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finqa0
|
what is the average payment volume per transaction for american express?
|
127.40
|
divide(637, const_5)
|
largest operators of open-loop and closed-loop retail electronic payments networks the largest operators of open-loop and closed-loop retail electronic payments networks are visa , mastercard , american express , discover , jcb and diners club .
with the exception of discover , which primarily operates in the united states , all of the other network operators can be considered multi- national or global providers of payments network services .
based on payments volume , total volume , number of transactions and number of cards in circulation , visa is the largest retail electronic payments network in the world .
the following chart compares our network with those of our major competitors for calendar year 2007 : company payments volume volume transactions cards ( billions ) ( billions ) ( billions ) ( millions ) visa inc. ( 1 ) .
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$ 2457 $ 3822 50.3 1592 .
|
( 1 ) visa inc .
figures as reported previously in our filings .
source : the nilson report , issue 902 ( may 2008 ) and issue 903 ( may 2008 ) .
note : visa inc .
figures exclude visa europe .
figures for competitors include their respective european operations .
visa figures include visa , visa electron , and interlink brands .
visa cards include plus proprietary cards , but proprietary plus cash volume is not included .
domestic china figures are excluded .
mastercard figures include pin-based debit card figures on mastercard cards , but not maestro or cirrus figures .
china commercial funds transfers are excluded .
american express and discover include business from third-party issuers .
jcb figures are for april 2006 through march 2007 , but cards and outlets are as of september 2007 .
jcb total transaction figures are estimates .
our primary operations we generate revenue from the transaction processing services we offer to our customers .
our customers deliver visa products and payment services to consumers and merchants based on the product platforms we define and manage .
payments network management is a core part of our operations , as it ensures that our payments system provides a safe , efficient , consistent , and interoperable service to cardholders , merchants , and financial institutions worldwide .
transaction processing services core processing services our core processing services involve the routing of payment information and related data to facilitate the authorization , clearing and settlement of transactions between visa issuers , which are the financial institutions that issue visa cards to cardholders , and acquirers , which are the financial institutions that offer visa network connectivity and payments acceptance services to merchants .
in addition , we offer a range of value-added processing services to support our customers 2019 visa programs and to promote the growth and security of the visa payments network .
authorization is the process of approving or declining a transaction before a purchase is finalized or cash is disbursed .
clearing is the process of delivering final transaction data from an acquirer to an issuer for posting to the cardholder 2019s account , the calculation of certain fees and charges that apply to the issuer and acquirer involved in the transaction , and the conversion of transaction amounts to the .
|
| | company | payments volume ( billions ) | total volume ( billions ) | total transactions ( billions ) | cards ( millions ) |
|---:|:-----------------|:-------------------------------|:----------------------------|----------------------------------:|---------------------:|
| 0 | visa inc. ( 1 ) | $ 2457 | $ 3822 | 50.3 | 1592 |
| 1 | mastercard | 1697 | 2276 | 27 | 916 |
| 2 | american express | 637 | 647 | 5 | 86 |
| 3 | discover | 102 | 119 | 1.6 | 57 |
| 4 | jcb | 55 | 61 | 0.6 | 58 |
| 5 | diners club | 29 | 30 | 0.2 | 7 |
|
largest operators of open-loop and closed-loop retail electronic payments networks the largest operators of open-loop and closed-loop retail electronic payments networks are visa , mastercard , american express , discover , jcb and diners club .
with the exception of discover , which primarily operates in the united states , all of the other network operators can be considered multi- national or global providers of payments network services .
based on payments volume , total volume , number of transactions and number of cards in circulation , visa is the largest retail electronic payments network in the world .
the following chart compares our network with those of our major competitors for calendar year 2007 : company payments volume volume transactions cards ( billions ) ( billions ) ( billions ) ( millions ) visa inc. ( 1 ) .
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$ 2457 $ 3822 50.3 1592 ._| | company | payments volume ( billions ) | total volume ( billions ) | total transactions ( billions ) | cards ( millions ) |
|---:|:-----------------|:-------------------------------|:----------------------------|----------------------------------:|---------------------:|
| 0 | visa inc. ( 1 ) | $ 2457 | $ 3822 | 50.3 | 1592 |
| 1 | mastercard | 1697 | 2276 | 27 | 916 |
| 2 | american express | 637 | 647 | 5 | 86 |
| 3 | discover | 102 | 119 | 1.6 | 57 |
| 4 | jcb | 55 | 61 | 0.6 | 58 |
| 5 | diners club | 29 | 30 | 0.2 | 7 |_( 1 ) visa inc .
figures as reported previously in our filings .
source : the nilson report , issue 902 ( may 2008 ) and issue 903 ( may 2008 ) .
note : visa inc .
figures exclude visa europe .
figures for competitors include their respective european operations .
visa figures include visa , visa electron , and interlink brands .
visa cards include plus proprietary cards , but proprietary plus cash volume is not included .
domestic china figures are excluded .
mastercard figures include pin-based debit card figures on mastercard cards , but not maestro or cirrus figures .
china commercial funds transfers are excluded .
american express and discover include business from third-party issuers .
jcb figures are for april 2006 through march 2007 , but cards and outlets are as of september 2007 .
jcb total transaction figures are estimates .
our primary operations we generate revenue from the transaction processing services we offer to our customers .
our customers deliver visa products and payment services to consumers and merchants based on the product platforms we define and manage .
payments network management is a core part of our operations , as it ensures that our payments system provides a safe , efficient , consistent , and interoperable service to cardholders , merchants , and financial institutions worldwide .
transaction processing services core processing services our core processing services involve the routing of payment information and related data to facilitate the authorization , clearing and settlement of transactions between visa issuers , which are the financial institutions that issue visa cards to cardholders , and acquirers , which are the financial institutions that offer visa network connectivity and payments acceptance services to merchants .
in addition , we offer a range of value-added processing services to support our customers 2019 visa programs and to promote the growth and security of the visa payments network .
authorization is the process of approving or declining a transaction before a purchase is finalized or cash is disbursed .
clearing is the process of delivering final transaction data from an acquirer to an issuer for posting to the cardholder 2019s account , the calculation of certain fees and charges that apply to the issuer and acquirer involved in the transaction , and the conversion of transaction amounts to the .
| 2,008
| 17
|
V
|
Visa Inc.
|
Financials
|
Transaction & Payment Processing Services
|
San Francisco, California
|
2009-12-21
| 1,403,161
|
1958
|
what is the average payment volume per transaction for american express?
|
127.40
|
divide(637, const_5)
|
largest operators of open-loop and closed-loop retail electronic payments networks the largest operators of open-loop and closed-loop retail electronic payments networks are visa , mastercard , american express , discover , jcb and diners club .
with the exception of discover , which primarily operates in the united states , all of the other network operators can be considered multi- national or global providers of payments network services .
based on payments volume , total volume , number of transactions and number of cards in circulation , visa is the largest retail electronic payments network in the world .
the following chart compares our network with those of our major competitors for calendar year 2007 : company payments volume volume transactions cards ( billions ) ( billions ) ( billions ) ( millions ) visa inc. ( 1 ) .
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.
.
$ 2457 $ 3822 50.3 1592 .
|
( 1 ) visa inc .
figures as reported previously in our filings .
source : the nilson report , issue 902 ( may 2008 ) and issue 903 ( may 2008 ) .
note : visa inc .
figures exclude visa europe .
figures for competitors include their respective european operations .
visa figures include visa , visa electron , and interlink brands .
visa cards include plus proprietary cards , but proprietary plus cash volume is not included .
domestic china figures are excluded .
mastercard figures include pin-based debit card figures on mastercard cards , but not maestro or cirrus figures .
china commercial funds transfers are excluded .
american express and discover include business from third-party issuers .
jcb figures are for april 2006 through march 2007 , but cards and outlets are as of september 2007 .
jcb total transaction figures are estimates .
our primary operations we generate revenue from the transaction processing services we offer to our customers .
our customers deliver visa products and payment services to consumers and merchants based on the product platforms we define and manage .
payments network management is a core part of our operations , as it ensures that our payments system provides a safe , efficient , consistent , and interoperable service to cardholders , merchants , and financial institutions worldwide .
transaction processing services core processing services our core processing services involve the routing of payment information and related data to facilitate the authorization , clearing and settlement of transactions between visa issuers , which are the financial institutions that issue visa cards to cardholders , and acquirers , which are the financial institutions that offer visa network connectivity and payments acceptance services to merchants .
in addition , we offer a range of value-added processing services to support our customers 2019 visa programs and to promote the growth and security of the visa payments network .
authorization is the process of approving or declining a transaction before a purchase is finalized or cash is disbursed .
clearing is the process of delivering final transaction data from an acquirer to an issuer for posting to the cardholder 2019s account , the calculation of certain fees and charges that apply to the issuer and acquirer involved in the transaction , and the conversion of transaction amounts to the .
|
| | company | payments volume ( billions ) | total volume ( billions ) | total transactions ( billions ) | cards ( millions ) |
|---:|:-----------------|:-------------------------------|:----------------------------|----------------------------------:|---------------------:|
| 0 | visa inc. ( 1 ) | $ 2457 | $ 3822 | 50.3 | 1592 |
| 1 | mastercard | 1697 | 2276 | 27 | 916 |
| 2 | american express | 637 | 647 | 5 | 86 |
| 3 | discover | 102 | 119 | 1.6 | 57 |
| 4 | jcb | 55 | 61 | 0.6 | 58 |
| 5 | diners club | 29 | 30 | 0.2 | 7 |
|
largest operators of open-loop and closed-loop retail electronic payments networks the largest operators of open-loop and closed-loop retail electronic payments networks are visa , mastercard , american express , discover , jcb and diners club .
with the exception of discover , which primarily operates in the united states , all of the other network operators can be considered multi- national or global providers of payments network services .
based on payments volume , total volume , number of transactions and number of cards in circulation , visa is the largest retail electronic payments network in the world .
the following chart compares our network with those of our major competitors for calendar year 2007 : company payments volume volume transactions cards ( billions ) ( billions ) ( billions ) ( millions ) visa inc. ( 1 ) .
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$ 2457 $ 3822 50.3 1592 ._| | company | payments volume ( billions ) | total volume ( billions ) | total transactions ( billions ) | cards ( millions ) |
|---:|:-----------------|:-------------------------------|:----------------------------|----------------------------------:|---------------------:|
| 0 | visa inc. ( 1 ) | $ 2457 | $ 3822 | 50.3 | 1592 |
| 1 | mastercard | 1697 | 2276 | 27 | 916 |
| 2 | american express | 637 | 647 | 5 | 86 |
| 3 | discover | 102 | 119 | 1.6 | 57 |
| 4 | jcb | 55 | 61 | 0.6 | 58 |
| 5 | diners club | 29 | 30 | 0.2 | 7 |_( 1 ) visa inc .
figures as reported previously in our filings .
source : the nilson report , issue 902 ( may 2008 ) and issue 903 ( may 2008 ) .
note : visa inc .
figures exclude visa europe .
figures for competitors include their respective european operations .
visa figures include visa , visa electron , and interlink brands .
visa cards include plus proprietary cards , but proprietary plus cash volume is not included .
domestic china figures are excluded .
mastercard figures include pin-based debit card figures on mastercard cards , but not maestro or cirrus figures .
china commercial funds transfers are excluded .
american express and discover include business from third-party issuers .
jcb figures are for april 2006 through march 2007 , but cards and outlets are as of september 2007 .
jcb total transaction figures are estimates .
our primary operations we generate revenue from the transaction processing services we offer to our customers .
our customers deliver visa products and payment services to consumers and merchants based on the product platforms we define and manage .
payments network management is a core part of our operations , as it ensures that our payments system provides a safe , efficient , consistent , and interoperable service to cardholders , merchants , and financial institutions worldwide .
transaction processing services core processing services our core processing services involve the routing of payment information and related data to facilitate the authorization , clearing and settlement of transactions between visa issuers , which are the financial institutions that issue visa cards to cardholders , and acquirers , which are the financial institutions that offer visa network connectivity and payments acceptance services to merchants .
in addition , we offer a range of value-added processing services to support our customers 2019 visa programs and to promote the growth and security of the visa payments network .
authorization is the process of approving or declining a transaction before a purchase is finalized or cash is disbursed .
clearing is the process of delivering final transaction data from an acquirer to an issuer for posting to the cardholder 2019s account , the calculation of certain fees and charges that apply to the issuer and acquirer involved in the transaction , and the conversion of transaction amounts to the .
| 2,008
| 17
|
V
|
Visa Inc.
|
Financials
|
Transaction & Payment Processing Services
|
San Francisco, California
|
2009-12-21
| 1,403,161
|
1958
| null | null |
finqa1
|
what was the percentage cumulative total return for the five year period ended 31-dec-2017 of citi common stock?
|
93.5%
|
divide(subtract(193.5, const_100), const_100)
|
performance graph comparison of five-year cumulative total return the following graph and table compare the cumulative total return on citi 2019s common stock , which is listed on the nyse under the ticker symbol 201cc 201d and held by 65691 common stockholders of record as of january 31 , 2018 , with the cumulative total return of the s&p 500 index and the s&p financial index over the five-year period through december 31 , 2017 .
the graph and table assume that $ 100 was invested on december 31 , 2012 in citi 2019s common stock , the s&p 500 index and the s&p financial index , and that all dividends were reinvested .
comparison of five-year cumulative total return for the years ended date citi s&p 500 financials .
|
.
|
| | date | citi | s&p 500 | s&p financials |
|---:|:------------|-------:|----------:|-----------------:|
| 0 | 31-dec-2012 | 100 | 100 | 100 |
| 1 | 31-dec-2013 | 131.8 | 132.4 | 135.6 |
| 2 | 31-dec-2014 | 137 | 150.5 | 156.2 |
| 3 | 31-dec-2015 | 131.4 | 152.6 | 153.9 |
| 4 | 31-dec-2016 | 152.3 | 170.8 | 188.9 |
| 5 | 31-dec-2017 | 193.5 | 208.1 | 230.9 |
|
performance graph comparison of five-year cumulative total return the following graph and table compare the cumulative total return on citi 2019s common stock , which is listed on the nyse under the ticker symbol 201cc 201d and held by 65691 common stockholders of record as of january 31 , 2018 , with the cumulative total return of the s&p 500 index and the s&p financial index over the five-year period through december 31 , 2017 .
the graph and table assume that $ 100 was invested on december 31 , 2012 in citi 2019s common stock , the s&p 500 index and the s&p financial index , and that all dividends were reinvested .
comparison of five-year cumulative total return for the years ended date citi s&p 500 financials ._| | date | citi | s&p 500 | s&p financials |
|---:|:------------|-------:|----------:|-----------------:|
| 0 | 31-dec-2012 | 100 | 100 | 100 |
| 1 | 31-dec-2013 | 131.8 | 132.4 | 135.6 |
| 2 | 31-dec-2014 | 137 | 150.5 | 156.2 |
| 3 | 31-dec-2015 | 131.4 | 152.6 | 153.9 |
| 4 | 31-dec-2016 | 152.3 | 170.8 | 188.9 |
| 5 | 31-dec-2017 | 193.5 | 208.1 | 230.9 |_.
| 2,017
| 328
|
C
|
Citigroup
|
Financials
|
Diversified Banks
|
New York City, New York
|
1988-05-31
| 831,001
|
1998
|
what was the percentage cumulative total return for the five year period ended 31-dec-2017 of citi common stock?
|
93.5%
|
divide(subtract(193.5, const_100), const_100)
|
performance graph comparison of five-year cumulative total return the following graph and table compare the cumulative total return on citi 2019s common stock , which is listed on the nyse under the ticker symbol 201cc 201d and held by 65691 common stockholders of record as of january 31 , 2018 , with the cumulative total return of the s&p 500 index and the s&p financial index over the five-year period through december 31 , 2017 .
the graph and table assume that $ 100 was invested on december 31 , 2012 in citi 2019s common stock , the s&p 500 index and the s&p financial index , and that all dividends were reinvested .
comparison of five-year cumulative total return for the years ended date citi s&p 500 financials .
|
.
|
| | date | citi | s&p 500 | s&p financials |
|---:|:------------|-------:|----------:|-----------------:|
| 0 | 31-dec-2012 | 100 | 100 | 100 |
| 1 | 31-dec-2013 | 131.8 | 132.4 | 135.6 |
| 2 | 31-dec-2014 | 137 | 150.5 | 156.2 |
| 3 | 31-dec-2015 | 131.4 | 152.6 | 153.9 |
| 4 | 31-dec-2016 | 152.3 | 170.8 | 188.9 |
| 5 | 31-dec-2017 | 193.5 | 208.1 | 230.9 |
|
performance graph comparison of five-year cumulative total return the following graph and table compare the cumulative total return on citi 2019s common stock , which is listed on the nyse under the ticker symbol 201cc 201d and held by 65691 common stockholders of record as of january 31 , 2018 , with the cumulative total return of the s&p 500 index and the s&p financial index over the five-year period through december 31 , 2017 .
the graph and table assume that $ 100 was invested on december 31 , 2012 in citi 2019s common stock , the s&p 500 index and the s&p financial index , and that all dividends were reinvested .
comparison of five-year cumulative total return for the years ended date citi s&p 500 financials ._| | date | citi | s&p 500 | s&p financials |
|---:|:------------|-------:|----------:|-----------------:|
| 0 | 31-dec-2012 | 100 | 100 | 100 |
| 1 | 31-dec-2013 | 131.8 | 132.4 | 135.6 |
| 2 | 31-dec-2014 | 137 | 150.5 | 156.2 |
| 3 | 31-dec-2015 | 131.4 | 152.6 | 153.9 |
| 4 | 31-dec-2016 | 152.3 | 170.8 | 188.9 |
| 5 | 31-dec-2017 | 193.5 | 208.1 | 230.9 |_.
| 2,017
| 328
|
C
|
Citigroup
|
Financials
|
Diversified Banks
|
New York City, New York
|
1988-05-31
| 831,001
|
1998
| null | null |
finqa2
|
what percentage of the total oil and gas mmboe comes from canada?
|
24.69%
|
multiply(divide(60, 243), const_100)
|
the acquisition date is on or after the beginning of the first annual reporting period beginning on or after december 15 , 2008 .
we will evaluate how the new requirements of statement no .
141 ( r ) would impact any business combinations completed in 2009 or thereafter .
in december 2007 , the fasb also issued statement of financial accounting standards no .
160 , noncontrolling interests in consolidated financial statements 2014an amendment of accounting research bulletin no .
51 .
a noncontrolling interest , sometimes called a minority interest , is the portion of equity in a subsidiary not attributable , directly or indirectly , to a parent .
statement no .
160 establishes accounting and reporting standards for the noncontrolling interest in a subsidiary and for the deconsolidation of a subsidiary .
under statement no .
160 , noncontrolling interests in a subsidiary must be reported as a component of consolidated equity separate from the parent 2019s equity .
additionally , the amounts of consolidated net income attributable to both the parent and the noncontrolling interest must be reported separately on the face of the income statement .
statement no .
160 is effective for fiscal years beginning on or after december 15 , 2008 and earlier adoption is prohibited .
we do not expect the adoption of statement no .
160 to have a material impact on our financial statements and related disclosures .
2008 estimates the forward-looking statements provided in this discussion are based on our examination of historical operating trends , the information that was used to prepare the december 31 , 2007 reserve reports and other data in our possession or available from third parties .
these forward-looking statements were prepared assuming demand , curtailment , producibility and general market conditions for our oil , natural gas and ngls during 2008 will be substantially similar to those of 2007 , unless otherwise noted .
we make reference to the 201cdisclosure regarding forward-looking statements 201d at the beginning of this report .
amounts related to canadian operations have been converted to u.s .
dollars using a projected average 2008 exchange rate of $ 0.98 u.s .
dollar to $ 1.00 canadian dollar .
in january 2007 , we announced our intent to divest our west african oil and gas assets and terminate our operations in west africa , including equatorial guinea , cote d 2019ivoire , gabon and other countries in the region .
in november 2007 , we announced an agreement to sell our operations in gabon for $ 205.5 million .
we are finalizing purchase and sales agreements and obtaining the necessary partner and government approvals for the remaining properties in this divestiture package .
we are optimistic we can complete these sales during the first half of 2008 .
all west african related revenues , expenses and capital will be reported as discontinued operations in our 2008 financial statements .
accordingly , all forward-looking estimates in the following discussion exclude amounts related to our operations in west africa , unless otherwise noted .
though we have completed several major property acquisitions and dispositions in recent years , these transactions are opportunity driven .
thus , the following forward-looking estimates do not include any financial and operating effects of potential property acquisitions or divestitures that may occur during 2008 , except for west africa as previously discussed .
oil , gas and ngl production set forth below are our estimates of oil , gas and ngl production for 2008 .
we estimate that our combined 2008 oil , gas and ngl production will total approximately 240 to 247 mmboe .
of this total , approximately 92% ( 92 % ) is estimated to be produced from reserves classified as 201cproved 201d at december 31 , 2007 .
the following estimates for oil , gas and ngl production are calculated at the midpoint of the estimated range for total production .
oil gas ngls total ( mmbbls ) ( bcf ) ( mmbbls ) ( mmboe ) .
|
.
|
| | | oil ( mmbbls ) | gas ( bcf ) | ngls ( mmbbls ) | total ( mmboe ) |
|---:|:---------------|-----------------:|--------------:|------------------:|------------------:|
| 0 | u.s . onshore | 12 | 626 | 23 | 140 |
| 1 | u.s . offshore | 8 | 68 | 1 | 20 |
| 2 | canada | 23 | 198 | 4 | 60 |
| 3 | international | 23 | 2 | 2014 | 23 |
| 4 | total | 66 | 894 | 28 | 243 |
|
the acquisition date is on or after the beginning of the first annual reporting period beginning on or after december 15 , 2008 .
we will evaluate how the new requirements of statement no .
141 ( r ) would impact any business combinations completed in 2009 or thereafter .
in december 2007 , the fasb also issued statement of financial accounting standards no .
160 , noncontrolling interests in consolidated financial statements 2014an amendment of accounting research bulletin no .
51 .
a noncontrolling interest , sometimes called a minority interest , is the portion of equity in a subsidiary not attributable , directly or indirectly , to a parent .
statement no .
160 establishes accounting and reporting standards for the noncontrolling interest in a subsidiary and for the deconsolidation of a subsidiary .
under statement no .
160 , noncontrolling interests in a subsidiary must be reported as a component of consolidated equity separate from the parent 2019s equity .
additionally , the amounts of consolidated net income attributable to both the parent and the noncontrolling interest must be reported separately on the face of the income statement .
statement no .
160 is effective for fiscal years beginning on or after december 15 , 2008 and earlier adoption is prohibited .
we do not expect the adoption of statement no .
160 to have a material impact on our financial statements and related disclosures .
2008 estimates the forward-looking statements provided in this discussion are based on our examination of historical operating trends , the information that was used to prepare the december 31 , 2007 reserve reports and other data in our possession or available from third parties .
these forward-looking statements were prepared assuming demand , curtailment , producibility and general market conditions for our oil , natural gas and ngls during 2008 will be substantially similar to those of 2007 , unless otherwise noted .
we make reference to the 201cdisclosure regarding forward-looking statements 201d at the beginning of this report .
amounts related to canadian operations have been converted to u.s .
dollars using a projected average 2008 exchange rate of $ 0.98 u.s .
dollar to $ 1.00 canadian dollar .
in january 2007 , we announced our intent to divest our west african oil and gas assets and terminate our operations in west africa , including equatorial guinea , cote d 2019ivoire , gabon and other countries in the region .
in november 2007 , we announced an agreement to sell our operations in gabon for $ 205.5 million .
we are finalizing purchase and sales agreements and obtaining the necessary partner and government approvals for the remaining properties in this divestiture package .
we are optimistic we can complete these sales during the first half of 2008 .
all west african related revenues , expenses and capital will be reported as discontinued operations in our 2008 financial statements .
accordingly , all forward-looking estimates in the following discussion exclude amounts related to our operations in west africa , unless otherwise noted .
though we have completed several major property acquisitions and dispositions in recent years , these transactions are opportunity driven .
thus , the following forward-looking estimates do not include any financial and operating effects of potential property acquisitions or divestitures that may occur during 2008 , except for west africa as previously discussed .
oil , gas and ngl production set forth below are our estimates of oil , gas and ngl production for 2008 .
we estimate that our combined 2008 oil , gas and ngl production will total approximately 240 to 247 mmboe .
of this total , approximately 92% ( 92 % ) is estimated to be produced from reserves classified as 201cproved 201d at december 31 , 2007 .
the following estimates for oil , gas and ngl production are calculated at the midpoint of the estimated range for total production .
oil gas ngls total ( mmbbls ) ( bcf ) ( mmbbls ) ( mmboe ) ._| | | oil ( mmbbls ) | gas ( bcf ) | ngls ( mmbbls ) | total ( mmboe ) |
|---:|:---------------|-----------------:|--------------:|------------------:|------------------:|
| 0 | u.s . onshore | 12 | 626 | 23 | 140 |
| 1 | u.s . offshore | 8 | 68 | 1 | 20 |
| 2 | canada | 23 | 198 | 4 | 60 |
| 3 | international | 23 | 2 | 2014 | 23 |
| 4 | total | 66 | 894 | 28 | 243 |_.
| 2,007
| 58
|
DVN
|
Devon Energy
|
Energy
|
Oil & Gas Exploration & Production
|
Oklahoma City, Oklahoma
|
2000-08-30
| 1,090,012
|
1971
|
what percentage of the total oil and gas mmboe comes from canada?
|
24.69%
|
multiply(divide(60, 243), const_100)
|
the acquisition date is on or after the beginning of the first annual reporting period beginning on or after december 15 , 2008 .
we will evaluate how the new requirements of statement no .
141 ( r ) would impact any business combinations completed in 2009 or thereafter .
in december 2007 , the fasb also issued statement of financial accounting standards no .
160 , noncontrolling interests in consolidated financial statements 2014an amendment of accounting research bulletin no .
51 .
a noncontrolling interest , sometimes called a minority interest , is the portion of equity in a subsidiary not attributable , directly or indirectly , to a parent .
statement no .
160 establishes accounting and reporting standards for the noncontrolling interest in a subsidiary and for the deconsolidation of a subsidiary .
under statement no .
160 , noncontrolling interests in a subsidiary must be reported as a component of consolidated equity separate from the parent 2019s equity .
additionally , the amounts of consolidated net income attributable to both the parent and the noncontrolling interest must be reported separately on the face of the income statement .
statement no .
160 is effective for fiscal years beginning on or after december 15 , 2008 and earlier adoption is prohibited .
we do not expect the adoption of statement no .
160 to have a material impact on our financial statements and related disclosures .
2008 estimates the forward-looking statements provided in this discussion are based on our examination of historical operating trends , the information that was used to prepare the december 31 , 2007 reserve reports and other data in our possession or available from third parties .
these forward-looking statements were prepared assuming demand , curtailment , producibility and general market conditions for our oil , natural gas and ngls during 2008 will be substantially similar to those of 2007 , unless otherwise noted .
we make reference to the 201cdisclosure regarding forward-looking statements 201d at the beginning of this report .
amounts related to canadian operations have been converted to u.s .
dollars using a projected average 2008 exchange rate of $ 0.98 u.s .
dollar to $ 1.00 canadian dollar .
in january 2007 , we announced our intent to divest our west african oil and gas assets and terminate our operations in west africa , including equatorial guinea , cote d 2019ivoire , gabon and other countries in the region .
in november 2007 , we announced an agreement to sell our operations in gabon for $ 205.5 million .
we are finalizing purchase and sales agreements and obtaining the necessary partner and government approvals for the remaining properties in this divestiture package .
we are optimistic we can complete these sales during the first half of 2008 .
all west african related revenues , expenses and capital will be reported as discontinued operations in our 2008 financial statements .
accordingly , all forward-looking estimates in the following discussion exclude amounts related to our operations in west africa , unless otherwise noted .
though we have completed several major property acquisitions and dispositions in recent years , these transactions are opportunity driven .
thus , the following forward-looking estimates do not include any financial and operating effects of potential property acquisitions or divestitures that may occur during 2008 , except for west africa as previously discussed .
oil , gas and ngl production set forth below are our estimates of oil , gas and ngl production for 2008 .
we estimate that our combined 2008 oil , gas and ngl production will total approximately 240 to 247 mmboe .
of this total , approximately 92% ( 92 % ) is estimated to be produced from reserves classified as 201cproved 201d at december 31 , 2007 .
the following estimates for oil , gas and ngl production are calculated at the midpoint of the estimated range for total production .
oil gas ngls total ( mmbbls ) ( bcf ) ( mmbbls ) ( mmboe ) .
|
.
|
| | | oil ( mmbbls ) | gas ( bcf ) | ngls ( mmbbls ) | total ( mmboe ) |
|---:|:---------------|-----------------:|--------------:|------------------:|------------------:|
| 0 | u.s . onshore | 12 | 626 | 23 | 140 |
| 1 | u.s . offshore | 8 | 68 | 1 | 20 |
| 2 | canada | 23 | 198 | 4 | 60 |
| 3 | international | 23 | 2 | 2014 | 23 |
| 4 | total | 66 | 894 | 28 | 243 |
|
the acquisition date is on or after the beginning of the first annual reporting period beginning on or after december 15 , 2008 .
we will evaluate how the new requirements of statement no .
141 ( r ) would impact any business combinations completed in 2009 or thereafter .
in december 2007 , the fasb also issued statement of financial accounting standards no .
160 , noncontrolling interests in consolidated financial statements 2014an amendment of accounting research bulletin no .
51 .
a noncontrolling interest , sometimes called a minority interest , is the portion of equity in a subsidiary not attributable , directly or indirectly , to a parent .
statement no .
160 establishes accounting and reporting standards for the noncontrolling interest in a subsidiary and for the deconsolidation of a subsidiary .
under statement no .
160 , noncontrolling interests in a subsidiary must be reported as a component of consolidated equity separate from the parent 2019s equity .
additionally , the amounts of consolidated net income attributable to both the parent and the noncontrolling interest must be reported separately on the face of the income statement .
statement no .
160 is effective for fiscal years beginning on or after december 15 , 2008 and earlier adoption is prohibited .
we do not expect the adoption of statement no .
160 to have a material impact on our financial statements and related disclosures .
2008 estimates the forward-looking statements provided in this discussion are based on our examination of historical operating trends , the information that was used to prepare the december 31 , 2007 reserve reports and other data in our possession or available from third parties .
these forward-looking statements were prepared assuming demand , curtailment , producibility and general market conditions for our oil , natural gas and ngls during 2008 will be substantially similar to those of 2007 , unless otherwise noted .
we make reference to the 201cdisclosure regarding forward-looking statements 201d at the beginning of this report .
amounts related to canadian operations have been converted to u.s .
dollars using a projected average 2008 exchange rate of $ 0.98 u.s .
dollar to $ 1.00 canadian dollar .
in january 2007 , we announced our intent to divest our west african oil and gas assets and terminate our operations in west africa , including equatorial guinea , cote d 2019ivoire , gabon and other countries in the region .
in november 2007 , we announced an agreement to sell our operations in gabon for $ 205.5 million .
we are finalizing purchase and sales agreements and obtaining the necessary partner and government approvals for the remaining properties in this divestiture package .
we are optimistic we can complete these sales during the first half of 2008 .
all west african related revenues , expenses and capital will be reported as discontinued operations in our 2008 financial statements .
accordingly , all forward-looking estimates in the following discussion exclude amounts related to our operations in west africa , unless otherwise noted .
though we have completed several major property acquisitions and dispositions in recent years , these transactions are opportunity driven .
thus , the following forward-looking estimates do not include any financial and operating effects of potential property acquisitions or divestitures that may occur during 2008 , except for west africa as previously discussed .
oil , gas and ngl production set forth below are our estimates of oil , gas and ngl production for 2008 .
we estimate that our combined 2008 oil , gas and ngl production will total approximately 240 to 247 mmboe .
of this total , approximately 92% ( 92 % ) is estimated to be produced from reserves classified as 201cproved 201d at december 31 , 2007 .
the following estimates for oil , gas and ngl production are calculated at the midpoint of the estimated range for total production .
oil gas ngls total ( mmbbls ) ( bcf ) ( mmbbls ) ( mmboe ) ._| | | oil ( mmbbls ) | gas ( bcf ) | ngls ( mmbbls ) | total ( mmboe ) |
|---:|:---------------|-----------------:|--------------:|------------------:|------------------:|
| 0 | u.s . onshore | 12 | 626 | 23 | 140 |
| 1 | u.s . offshore | 8 | 68 | 1 | 20 |
| 2 | canada | 23 | 198 | 4 | 60 |
| 3 | international | 23 | 2 | 2014 | 23 |
| 4 | total | 66 | 894 | 28 | 243 |_.
| 2,007
| 58
|
DVN
|
Devon Energy
|
Energy
|
Oil & Gas Exploration & Production
|
Oklahoma City, Oklahoma
|
2000-08-30
| 1,090,012
|
1971
| null | null |
finqa3
|
in 2010 what was the net change in net revenue in millions
|
18.6
|
add(18.9, 0.3)
|
entergy mississippi , inc .
management 2019s financial discussion and analysis 2010 compared to 2009 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges ( credits ) .
following is an analysis of the change in net revenue comparing 2010 to 2009 .
amount ( in millions ) .
|
the volume/weather variance is primarily due to an increase of 1046 gwh , or 8% ( 8 % ) , in billed electricity usage in all sectors , primarily due to the effect of more favorable weather on the residential sector .
gross operating revenues , fuel and purchased power expenses , and other regulatory charges ( credits ) gross operating revenues increased primarily due to an increase of $ 22 million in power management rider revenue as the result of higher rates , the volume/weather variance discussed above , and an increase in grand gulf rider revenue as a result of higher rates and increased usage , offset by a decrease of $ 23.5 million in fuel cost recovery revenues due to lower fuel rates .
fuel and purchased power expenses decreased primarily due to a decrease in deferred fuel expense as a result of prior over-collections , offset by an increase in the average market price of purchased power coupled with increased net area demand .
other regulatory charges increased primarily due to increased recovery of costs associated with the power management recovery rider .
other income statement variances 2011 compared to 2010 other operation and maintenance expenses decreased primarily due to : a $ 5.4 million decrease in compensation and benefits costs primarily resulting from an increase in the accrual for incentive-based compensation in 2010 and a decrease in stock option expense ; and the sale of $ 4.9 million of surplus oil inventory .
the decrease was partially offset by an increase of $ 3.9 million in legal expenses due to the deferral in 2010 of certain litigation expenses in accordance with regulatory treatment .
taxes other than income taxes increased primarily due to an increase in ad valorem taxes due to a higher 2011 assessment as compared to 2010 , partially offset by higher capitalized property taxes as compared with prior year .
depreciation and amortization expenses increased primarily due to an increase in plant in service .
interest expense decreased primarily due to a revision caused by ferc 2019s acceptance of a change in the treatment of funds received from independent power producers for transmission interconnection projects. .
|
| | | amount ( in millions ) |
|---:|:-----------------|:-------------------------|
| 0 | 2009 net revenue | $ 536.7 |
| 1 | volume/weather | 18.9 |
| 2 | other | -0.3 ( 0.3 ) |
| 3 | 2010 net revenue | $ 555.3 |
|
entergy mississippi , inc .
management 2019s financial discussion and analysis 2010 compared to 2009 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges ( credits ) .
following is an analysis of the change in net revenue comparing 2010 to 2009 .
amount ( in millions ) ._| | | amount ( in millions ) |
|---:|:-----------------|:-------------------------|
| 0 | 2009 net revenue | $ 536.7 |
| 1 | volume/weather | 18.9 |
| 2 | other | -0.3 ( 0.3 ) |
| 3 | 2010 net revenue | $ 555.3 |_the volume/weather variance is primarily due to an increase of 1046 gwh , or 8% ( 8 % ) , in billed electricity usage in all sectors , primarily due to the effect of more favorable weather on the residential sector .
gross operating revenues , fuel and purchased power expenses , and other regulatory charges ( credits ) gross operating revenues increased primarily due to an increase of $ 22 million in power management rider revenue as the result of higher rates , the volume/weather variance discussed above , and an increase in grand gulf rider revenue as a result of higher rates and increased usage , offset by a decrease of $ 23.5 million in fuel cost recovery revenues due to lower fuel rates .
fuel and purchased power expenses decreased primarily due to a decrease in deferred fuel expense as a result of prior over-collections , offset by an increase in the average market price of purchased power coupled with increased net area demand .
other regulatory charges increased primarily due to increased recovery of costs associated with the power management recovery rider .
other income statement variances 2011 compared to 2010 other operation and maintenance expenses decreased primarily due to : a $ 5.4 million decrease in compensation and benefits costs primarily resulting from an increase in the accrual for incentive-based compensation in 2010 and a decrease in stock option expense ; and the sale of $ 4.9 million of surplus oil inventory .
the decrease was partially offset by an increase of $ 3.9 million in legal expenses due to the deferral in 2010 of certain litigation expenses in accordance with regulatory treatment .
taxes other than income taxes increased primarily due to an increase in ad valorem taxes due to a higher 2011 assessment as compared to 2010 , partially offset by higher capitalized property taxes as compared with prior year .
depreciation and amortization expenses increased primarily due to an increase in plant in service .
interest expense decreased primarily due to a revision caused by ferc 2019s acceptance of a change in the treatment of funds received from independent power producers for transmission interconnection projects. .
| 2,011
| 341
|
ETR
|
Entergy
|
Utilities
|
Electric Utilities
|
New Orleans, Louisiana
|
1957-03-04
| 65,984
|
1913
|
in 2010 what was the net change in net revenue in millions
|
18.6
|
add(18.9, 0.3)
|
entergy mississippi , inc .
management 2019s financial discussion and analysis 2010 compared to 2009 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges ( credits ) .
following is an analysis of the change in net revenue comparing 2010 to 2009 .
amount ( in millions ) .
|
the volume/weather variance is primarily due to an increase of 1046 gwh , or 8% ( 8 % ) , in billed electricity usage in all sectors , primarily due to the effect of more favorable weather on the residential sector .
gross operating revenues , fuel and purchased power expenses , and other regulatory charges ( credits ) gross operating revenues increased primarily due to an increase of $ 22 million in power management rider revenue as the result of higher rates , the volume/weather variance discussed above , and an increase in grand gulf rider revenue as a result of higher rates and increased usage , offset by a decrease of $ 23.5 million in fuel cost recovery revenues due to lower fuel rates .
fuel and purchased power expenses decreased primarily due to a decrease in deferred fuel expense as a result of prior over-collections , offset by an increase in the average market price of purchased power coupled with increased net area demand .
other regulatory charges increased primarily due to increased recovery of costs associated with the power management recovery rider .
other income statement variances 2011 compared to 2010 other operation and maintenance expenses decreased primarily due to : a $ 5.4 million decrease in compensation and benefits costs primarily resulting from an increase in the accrual for incentive-based compensation in 2010 and a decrease in stock option expense ; and the sale of $ 4.9 million of surplus oil inventory .
the decrease was partially offset by an increase of $ 3.9 million in legal expenses due to the deferral in 2010 of certain litigation expenses in accordance with regulatory treatment .
taxes other than income taxes increased primarily due to an increase in ad valorem taxes due to a higher 2011 assessment as compared to 2010 , partially offset by higher capitalized property taxes as compared with prior year .
depreciation and amortization expenses increased primarily due to an increase in plant in service .
interest expense decreased primarily due to a revision caused by ferc 2019s acceptance of a change in the treatment of funds received from independent power producers for transmission interconnection projects. .
|
| | | amount ( in millions ) |
|---:|:-----------------|:-------------------------|
| 0 | 2009 net revenue | $ 536.7 |
| 1 | volume/weather | 18.9 |
| 2 | other | -0.3 ( 0.3 ) |
| 3 | 2010 net revenue | $ 555.3 |
|
entergy mississippi , inc .
management 2019s financial discussion and analysis 2010 compared to 2009 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges ( credits ) .
following is an analysis of the change in net revenue comparing 2010 to 2009 .
amount ( in millions ) ._| | | amount ( in millions ) |
|---:|:-----------------|:-------------------------|
| 0 | 2009 net revenue | $ 536.7 |
| 1 | volume/weather | 18.9 |
| 2 | other | -0.3 ( 0.3 ) |
| 3 | 2010 net revenue | $ 555.3 |_the volume/weather variance is primarily due to an increase of 1046 gwh , or 8% ( 8 % ) , in billed electricity usage in all sectors , primarily due to the effect of more favorable weather on the residential sector .
gross operating revenues , fuel and purchased power expenses , and other regulatory charges ( credits ) gross operating revenues increased primarily due to an increase of $ 22 million in power management rider revenue as the result of higher rates , the volume/weather variance discussed above , and an increase in grand gulf rider revenue as a result of higher rates and increased usage , offset by a decrease of $ 23.5 million in fuel cost recovery revenues due to lower fuel rates .
fuel and purchased power expenses decreased primarily due to a decrease in deferred fuel expense as a result of prior over-collections , offset by an increase in the average market price of purchased power coupled with increased net area demand .
other regulatory charges increased primarily due to increased recovery of costs associated with the power management recovery rider .
other income statement variances 2011 compared to 2010 other operation and maintenance expenses decreased primarily due to : a $ 5.4 million decrease in compensation and benefits costs primarily resulting from an increase in the accrual for incentive-based compensation in 2010 and a decrease in stock option expense ; and the sale of $ 4.9 million of surplus oil inventory .
the decrease was partially offset by an increase of $ 3.9 million in legal expenses due to the deferral in 2010 of certain litigation expenses in accordance with regulatory treatment .
taxes other than income taxes increased primarily due to an increase in ad valorem taxes due to a higher 2011 assessment as compared to 2010 , partially offset by higher capitalized property taxes as compared with prior year .
depreciation and amortization expenses increased primarily due to an increase in plant in service .
interest expense decreased primarily due to a revision caused by ferc 2019s acceptance of a change in the treatment of funds received from independent power producers for transmission interconnection projects. .
| 2,011
| 341
|
ETR
|
Entergy
|
Utilities
|
Electric Utilities
|
New Orleans, Louisiana
|
1957-03-04
| 65,984
|
1913
| null | null |
finqa4
|
what are the deferred fuel cost revisions as a percentage of the increase in fuel cost recovery revenues?
|
60.3%
|
divide(59.1, 98.0)
|
entergy louisiana , inc .
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. .
|
| | | ( in millions ) |
|---:|:-----------------------------|:------------------|
| 0 | 2002 net revenue | $ 922.9 |
| 1 | deferred fuel cost revisions | 59.1 |
| 2 | asset retirement obligation | 8.2 |
| 3 | volume | -16.2 ( 16.2 ) |
| 4 | vidalia settlement | -9.2 ( 9.2 ) |
| 5 | other | 8.9 |
| 6 | 2003 net revenue | $ 973.7 |
|
entergy louisiana , inc .
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. ._| | | ( in millions ) |
|---:|:-----------------------------|:------------------|
| 0 | 2002 net revenue | $ 922.9 |
| 1 | deferred fuel cost revisions | 59.1 |
| 2 | asset retirement obligation | 8.2 |
| 3 | volume | -16.2 ( 16.2 ) |
| 4 | vidalia settlement | -9.2 ( 9.2 ) |
| 5 | other | 8.9 |
| 6 | 2003 net revenue | $ 973.7 |_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. .
| 2,004
| 213
|
ETR
|
Entergy
|
Utilities
|
Electric Utilities
|
New Orleans, Louisiana
|
1957-03-04
| 65,984
|
1913
|
what are the deferred fuel cost revisions as a percentage of the increase in fuel cost recovery revenues?
|
60.3%
|
divide(59.1, 98.0)
|
entergy louisiana , inc .
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. .
|
| | | ( in millions ) |
|---:|:-----------------------------|:------------------|
| 0 | 2002 net revenue | $ 922.9 |
| 1 | deferred fuel cost revisions | 59.1 |
| 2 | asset retirement obligation | 8.2 |
| 3 | volume | -16.2 ( 16.2 ) |
| 4 | vidalia settlement | -9.2 ( 9.2 ) |
| 5 | other | 8.9 |
| 6 | 2003 net revenue | $ 973.7 |
|
entergy louisiana , inc .
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. ._| | | ( in millions ) |
|---:|:-----------------------------|:------------------|
| 0 | 2002 net revenue | $ 922.9 |
| 1 | deferred fuel cost revisions | 59.1 |
| 2 | asset retirement obligation | 8.2 |
| 3 | volume | -16.2 ( 16.2 ) |
| 4 | vidalia settlement | -9.2 ( 9.2 ) |
| 5 | other | 8.9 |
| 6 | 2003 net revenue | $ 973.7 |_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. .
| 2,004
| 213
|
ETR
|
Entergy
|
Utilities
|
Electric Utilities
|
New Orleans, Louisiana
|
1957-03-04
| 65,984
|
1913
| null | null |
finqa5
|
what was the change in millions of operating income from 2016 to 2017?
|
688
|
subtract(11503, 10815)
|
net revenues include $ 3.8 billion in 2017 and $ 739 million in 2016 related to the sale of rrps , mainly driven by japan .
these net revenue amounts include excise taxes billed to customers .
excluding excise taxes , net revenues for rrps were $ 3.6 billion in 2017 and $ 733 million in 2016 .
in some jurisdictions , including japan , we are not responsible for collecting excise taxes .
in 2017 , approximately $ 0.9 billion of our $ 3.6 billion in rrp net revenues , excluding excise taxes , were from iqos devices and accessories .
excise taxes on products increased by $ 1.1 billion , due to : 2022 higher excise taxes resulting from changes in retail prices and tax rates ( $ 4.6 billion ) , partially offset by 2022 favorable currency ( $ 1.9 billion ) and 2022 lower excise taxes resulting from volume/mix ( $ 1.6 billion ) .
our cost of sales ; marketing , administration and research costs ; and operating income were as follows : for the years ended december 31 , variance .
|
cost of sales increased by $ 1.0 billion , due to : 2022 higher cost of sales resulting from volume/mix ( $ 1.1 billion ) , partly offset by 2022 lower manufacturing costs ( $ 36 million ) and 2022 favorable currency ( $ 30 million ) .
marketing , administration and research costs increased by $ 320 million , due to : 2022 higher expenses ( $ 570 million , largely reflecting increased investment behind reduced-risk products , predominately in the european union and asia ) , partly offset by 2022 favorable currency ( $ 250 million ) .
operating income increased by $ 688 million , due primarily to : 2022 price increases ( $ 1.4 billion ) , partly offset by 2022 higher marketing , administration and research costs ( $ 570 million ) and 2022 unfavorable currency ( $ 157 million ) .
interest expense , net , of $ 914 million increased by $ 23 million , due primarily to unfavorably currency and higher average debt levels , partly offset by higher interest income .
our effective tax rate increased by 12.8 percentage points to 40.7% ( 40.7 % ) .
the 2017 effective tax rate was unfavorably impacted by $ 1.6 billion due to the tax cuts and jobs act .
for further details , see item 8 , note 11 .
income taxes to our consolidated financial statements .
we are continuing to evaluate the impact that the tax cuts and jobs act will have on our tax liability .
based upon our current interpretation of the tax cuts and jobs act , we estimate that our 2018 effective tax rate will be approximately 28% ( 28 % ) , subject to future regulatory developments and earnings mix by taxing jurisdiction .
we are regularly examined by tax authorities around the world , and we are currently under examination in a number of jurisdictions .
it is reasonably possible that within the next 12 months certain tax examinations will close , which could result in a change in unrecognized tax benefits along with related interest and penalties .
an estimate of any possible change cannot be made at this time .
net earnings attributable to pmi of $ 6.0 billion decreased by $ 932 million ( 13.4% ( 13.4 % ) ) .
this decrease was due primarily to a higher effective tax rate as discussed above , partly offset by higher operating income .
diluted and basic eps of $ 3.88 decreased by 13.4% ( 13.4 % ) .
excluding .
|
| | ( in millions ) | for the years ended december 31 , 2017 | for the years ended december 31 , 2016 | for the years ended december 31 , $ | % ( % ) |
|---:|:--------------------------------------------|:-----------------------------------------|:-----------------------------------------|:--------------------------------------|:-----------------|
| 0 | cost of sales | $ 10432 | $ 9391 | $ 1041 | 11.1% ( 11.1 % ) |
| 1 | marketing administration and research costs | 6725 | 6405 | 320 | 5.0% ( 5.0 % ) |
| 2 | operating income | 11503 | 10815 | 688 | 6.4% ( 6.4 % ) |
|
net revenues include $ 3.8 billion in 2017 and $ 739 million in 2016 related to the sale of rrps , mainly driven by japan .
these net revenue amounts include excise taxes billed to customers .
excluding excise taxes , net revenues for rrps were $ 3.6 billion in 2017 and $ 733 million in 2016 .
in some jurisdictions , including japan , we are not responsible for collecting excise taxes .
in 2017 , approximately $ 0.9 billion of our $ 3.6 billion in rrp net revenues , excluding excise taxes , were from iqos devices and accessories .
excise taxes on products increased by $ 1.1 billion , due to : 2022 higher excise taxes resulting from changes in retail prices and tax rates ( $ 4.6 billion ) , partially offset by 2022 favorable currency ( $ 1.9 billion ) and 2022 lower excise taxes resulting from volume/mix ( $ 1.6 billion ) .
our cost of sales ; marketing , administration and research costs ; and operating income were as follows : for the years ended december 31 , variance ._| | ( in millions ) | for the years ended december 31 , 2017 | for the years ended december 31 , 2016 | for the years ended december 31 , $ | % ( % ) |
|---:|:--------------------------------------------|:-----------------------------------------|:-----------------------------------------|:--------------------------------------|:-----------------|
| 0 | cost of sales | $ 10432 | $ 9391 | $ 1041 | 11.1% ( 11.1 % ) |
| 1 | marketing administration and research costs | 6725 | 6405 | 320 | 5.0% ( 5.0 % ) |
| 2 | operating income | 11503 | 10815 | 688 | 6.4% ( 6.4 % ) |_cost of sales increased by $ 1.0 billion , due to : 2022 higher cost of sales resulting from volume/mix ( $ 1.1 billion ) , partly offset by 2022 lower manufacturing costs ( $ 36 million ) and 2022 favorable currency ( $ 30 million ) .
marketing , administration and research costs increased by $ 320 million , due to : 2022 higher expenses ( $ 570 million , largely reflecting increased investment behind reduced-risk products , predominately in the european union and asia ) , partly offset by 2022 favorable currency ( $ 250 million ) .
operating income increased by $ 688 million , due primarily to : 2022 price increases ( $ 1.4 billion ) , partly offset by 2022 higher marketing , administration and research costs ( $ 570 million ) and 2022 unfavorable currency ( $ 157 million ) .
interest expense , net , of $ 914 million increased by $ 23 million , due primarily to unfavorably currency and higher average debt levels , partly offset by higher interest income .
our effective tax rate increased by 12.8 percentage points to 40.7% ( 40.7 % ) .
the 2017 effective tax rate was unfavorably impacted by $ 1.6 billion due to the tax cuts and jobs act .
for further details , see item 8 , note 11 .
income taxes to our consolidated financial statements .
we are continuing to evaluate the impact that the tax cuts and jobs act will have on our tax liability .
based upon our current interpretation of the tax cuts and jobs act , we estimate that our 2018 effective tax rate will be approximately 28% ( 28 % ) , subject to future regulatory developments and earnings mix by taxing jurisdiction .
we are regularly examined by tax authorities around the world , and we are currently under examination in a number of jurisdictions .
it is reasonably possible that within the next 12 months certain tax examinations will close , which could result in a change in unrecognized tax benefits along with related interest and penalties .
an estimate of any possible change cannot be made at this time .
net earnings attributable to pmi of $ 6.0 billion decreased by $ 932 million ( 13.4% ( 13.4 % ) ) .
this decrease was due primarily to a higher effective tax rate as discussed above , partly offset by higher operating income .
diluted and basic eps of $ 3.88 decreased by 13.4% ( 13.4 % ) .
excluding .
| 2,017
| 38
|
PM
|
Philip Morris International
|
Consumer Staples
|
Tobacco
|
New York City, New York
|
2008-03-31
| 1,413,329
|
2008 (1847)
|
what was the change in millions of operating income from 2016 to 2017?
|
688
|
subtract(11503, 10815)
|
net revenues include $ 3.8 billion in 2017 and $ 739 million in 2016 related to the sale of rrps , mainly driven by japan .
these net revenue amounts include excise taxes billed to customers .
excluding excise taxes , net revenues for rrps were $ 3.6 billion in 2017 and $ 733 million in 2016 .
in some jurisdictions , including japan , we are not responsible for collecting excise taxes .
in 2017 , approximately $ 0.9 billion of our $ 3.6 billion in rrp net revenues , excluding excise taxes , were from iqos devices and accessories .
excise taxes on products increased by $ 1.1 billion , due to : 2022 higher excise taxes resulting from changes in retail prices and tax rates ( $ 4.6 billion ) , partially offset by 2022 favorable currency ( $ 1.9 billion ) and 2022 lower excise taxes resulting from volume/mix ( $ 1.6 billion ) .
our cost of sales ; marketing , administration and research costs ; and operating income were as follows : for the years ended december 31 , variance .
|
cost of sales increased by $ 1.0 billion , due to : 2022 higher cost of sales resulting from volume/mix ( $ 1.1 billion ) , partly offset by 2022 lower manufacturing costs ( $ 36 million ) and 2022 favorable currency ( $ 30 million ) .
marketing , administration and research costs increased by $ 320 million , due to : 2022 higher expenses ( $ 570 million , largely reflecting increased investment behind reduced-risk products , predominately in the european union and asia ) , partly offset by 2022 favorable currency ( $ 250 million ) .
operating income increased by $ 688 million , due primarily to : 2022 price increases ( $ 1.4 billion ) , partly offset by 2022 higher marketing , administration and research costs ( $ 570 million ) and 2022 unfavorable currency ( $ 157 million ) .
interest expense , net , of $ 914 million increased by $ 23 million , due primarily to unfavorably currency and higher average debt levels , partly offset by higher interest income .
our effective tax rate increased by 12.8 percentage points to 40.7% ( 40.7 % ) .
the 2017 effective tax rate was unfavorably impacted by $ 1.6 billion due to the tax cuts and jobs act .
for further details , see item 8 , note 11 .
income taxes to our consolidated financial statements .
we are continuing to evaluate the impact that the tax cuts and jobs act will have on our tax liability .
based upon our current interpretation of the tax cuts and jobs act , we estimate that our 2018 effective tax rate will be approximately 28% ( 28 % ) , subject to future regulatory developments and earnings mix by taxing jurisdiction .
we are regularly examined by tax authorities around the world , and we are currently under examination in a number of jurisdictions .
it is reasonably possible that within the next 12 months certain tax examinations will close , which could result in a change in unrecognized tax benefits along with related interest and penalties .
an estimate of any possible change cannot be made at this time .
net earnings attributable to pmi of $ 6.0 billion decreased by $ 932 million ( 13.4% ( 13.4 % ) ) .
this decrease was due primarily to a higher effective tax rate as discussed above , partly offset by higher operating income .
diluted and basic eps of $ 3.88 decreased by 13.4% ( 13.4 % ) .
excluding .
|
| | ( in millions ) | for the years ended december 31 , 2017 | for the years ended december 31 , 2016 | for the years ended december 31 , $ | % ( % ) |
|---:|:--------------------------------------------|:-----------------------------------------|:-----------------------------------------|:--------------------------------------|:-----------------|
| 0 | cost of sales | $ 10432 | $ 9391 | $ 1041 | 11.1% ( 11.1 % ) |
| 1 | marketing administration and research costs | 6725 | 6405 | 320 | 5.0% ( 5.0 % ) |
| 2 | operating income | 11503 | 10815 | 688 | 6.4% ( 6.4 % ) |
|
net revenues include $ 3.8 billion in 2017 and $ 739 million in 2016 related to the sale of rrps , mainly driven by japan .
these net revenue amounts include excise taxes billed to customers .
excluding excise taxes , net revenues for rrps were $ 3.6 billion in 2017 and $ 733 million in 2016 .
in some jurisdictions , including japan , we are not responsible for collecting excise taxes .
in 2017 , approximately $ 0.9 billion of our $ 3.6 billion in rrp net revenues , excluding excise taxes , were from iqos devices and accessories .
excise taxes on products increased by $ 1.1 billion , due to : 2022 higher excise taxes resulting from changes in retail prices and tax rates ( $ 4.6 billion ) , partially offset by 2022 favorable currency ( $ 1.9 billion ) and 2022 lower excise taxes resulting from volume/mix ( $ 1.6 billion ) .
our cost of sales ; marketing , administration and research costs ; and operating income were as follows : for the years ended december 31 , variance ._| | ( in millions ) | for the years ended december 31 , 2017 | for the years ended december 31 , 2016 | for the years ended december 31 , $ | % ( % ) |
|---:|:--------------------------------------------|:-----------------------------------------|:-----------------------------------------|:--------------------------------------|:-----------------|
| 0 | cost of sales | $ 10432 | $ 9391 | $ 1041 | 11.1% ( 11.1 % ) |
| 1 | marketing administration and research costs | 6725 | 6405 | 320 | 5.0% ( 5.0 % ) |
| 2 | operating income | 11503 | 10815 | 688 | 6.4% ( 6.4 % ) |_cost of sales increased by $ 1.0 billion , due to : 2022 higher cost of sales resulting from volume/mix ( $ 1.1 billion ) , partly offset by 2022 lower manufacturing costs ( $ 36 million ) and 2022 favorable currency ( $ 30 million ) .
marketing , administration and research costs increased by $ 320 million , due to : 2022 higher expenses ( $ 570 million , largely reflecting increased investment behind reduced-risk products , predominately in the european union and asia ) , partly offset by 2022 favorable currency ( $ 250 million ) .
operating income increased by $ 688 million , due primarily to : 2022 price increases ( $ 1.4 billion ) , partly offset by 2022 higher marketing , administration and research costs ( $ 570 million ) and 2022 unfavorable currency ( $ 157 million ) .
interest expense , net , of $ 914 million increased by $ 23 million , due primarily to unfavorably currency and higher average debt levels , partly offset by higher interest income .
our effective tax rate increased by 12.8 percentage points to 40.7% ( 40.7 % ) .
the 2017 effective tax rate was unfavorably impacted by $ 1.6 billion due to the tax cuts and jobs act .
for further details , see item 8 , note 11 .
income taxes to our consolidated financial statements .
we are continuing to evaluate the impact that the tax cuts and jobs act will have on our tax liability .
based upon our current interpretation of the tax cuts and jobs act , we estimate that our 2018 effective tax rate will be approximately 28% ( 28 % ) , subject to future regulatory developments and earnings mix by taxing jurisdiction .
we are regularly examined by tax authorities around the world , and we are currently under examination in a number of jurisdictions .
it is reasonably possible that within the next 12 months certain tax examinations will close , which could result in a change in unrecognized tax benefits along with related interest and penalties .
an estimate of any possible change cannot be made at this time .
net earnings attributable to pmi of $ 6.0 billion decreased by $ 932 million ( 13.4% ( 13.4 % ) ) .
this decrease was due primarily to a higher effective tax rate as discussed above , partly offset by higher operating income .
diluted and basic eps of $ 3.88 decreased by 13.4% ( 13.4 % ) .
excluding .
| 2,017
| 38
|
PM
|
Philip Morris International
|
Consumer Staples
|
Tobacco
|
New York City, New York
|
2008-03-31
| 1,413,329
|
2008 (1847)
| null | null |
finqa6
|
what was jpmorgan chase & co's common equity tier 1 ( cet1 ) ratio in 2008?
|
10.94%
|
divide(136104, 1244659)
|
jpmorgan chase & co .
/ 2008 annual report 83 credit risk capital credit risk capital is estimated separately for the wholesale business- es ( ib , cb , tss and am ) and consumer businesses ( rfs and cs ) .
credit risk capital for the overall wholesale credit portfolio is defined in terms of unexpected credit losses , both from defaults and declines in the portfolio value due to credit deterioration , measured over a one-year period at a confidence level consistent with an 201caa 201d credit rating standard .
unexpected losses are losses in excess of those for which provisions for credit losses are maintained .
the capital methodology is based upon several principal drivers of credit risk : exposure at default ( or loan-equivalent amount ) , default likelihood , credit spreads , loss severity and portfolio correlation .
credit risk capital for the consumer portfolio is based upon product and other relevant risk segmentation .
actual segment level default and severity experience are used to estimate unexpected losses for a one-year horizon at a confidence level consistent with an 201caa 201d credit rating standard .
statistical results for certain segments or portfolios are adjusted to ensure that capital is consistent with external bench- marks , such as subordination levels on market transactions or capital held at representative monoline competitors , where appropriate .
market risk capital the firm calculates market risk capital guided by the principle that capital should reflect the risk of loss in the value of portfolios and financial instruments caused by adverse movements in market vari- ables , such as interest and foreign exchange rates , credit spreads , securities prices and commodities prices .
daily value-at-risk ( 201cvar 201d ) , biweekly stress-test results and other factors are used to determine appropriate capital levels .
the firm allocates market risk capital to each business segment according to a formula that weights that seg- ment 2019s var and stress-test exposures .
see market risk management on pages 111 2013116 of this annual report for more information about these market risk measures .
operational risk capital capital is allocated to the lines of business for operational risk using a risk-based capital allocation methodology which estimates opera- tional risk on a bottom-up basis .
the operational risk capital model is based upon actual losses and potential scenario-based stress losses , with adjustments to the capital calculation to reflect changes in the quality of the control environment or the use of risk-transfer prod- ucts .
the firm believes its model is consistent with the new basel ii framework .
private equity risk capital capital is allocated to privately and publicly held securities , third-party fund investments and commitments in the private equity portfolio to cover the potential loss associated with a decline in equity markets and related asset devaluations .
in addition to negative market fluctua- tions , potential losses in private equity investment portfolios can be magnified by liquidity risk .
the capital allocation for the private equity portfolio is based upon measurement of the loss experience suffered by the firm and other market participants over a prolonged period of adverse equity market conditions .
regulatory capital the board of governors of the federal reserve system ( the 201cfederal reserve 201d ) establishes capital requirements , including well-capitalized standards for the consolidated financial holding company .
the office of the comptroller of the currency ( 201cocc 201d ) establishes similar capital requirements and standards for the firm 2019s national banks , including jpmorgan chase bank , n.a. , and chase bank usa , n.a .
the federal reserve granted the firm , for a period of 18 months fol- lowing the bear stearns merger , relief up to a certain specified amount and subject to certain conditions from the federal reserve 2019s risk-based capital and leverage requirements with respect to bear stearns 2019 risk-weighted assets and other exposures acquired .
the amount of such relief is subject to reduction by one-sixth each quarter subsequent to the merger and expires on october 1 , 2009 .
the occ granted jpmorgan chase bank , n.a .
similar relief from its risk-based capital and leverage requirements .
jpmorgan chase maintained a well-capitalized position , based upon tier 1 and total capital ratios at december 31 , 2008 and 2007 , as indicated in the tables below .
for more information , see note 30 on pages 212 2013213 of this annual report .
risk-based capital components and assets .
|
( a ) the fasb has been deliberating certain amendments to both sfas 140 and fin 46r that may impact the accounting for transactions that involve qspes and vies .
based on the provisions of the current proposal and the firm 2019s interpretation of the propos- al , the firm estimates that the impact of consolidation could be up to $ 70 billion of credit card receivables , $ 40 billion of assets related to firm-sponsored multi-seller conduits , and $ 50 billion of other loans ( including residential mortgages ) ; the decrease in the tier 1 capital ratio could be approximately 80 basis points .
the ulti- mate impact could differ significantly due to the fasb 2019s continuing deliberations on the final requirements of the rule and market conditions. .
|
| | december 31 ( in millions ) | 2008 | 2007 |
|---:|:------------------------------|:----------|:----------|
| 0 | total tier 1capital ( a ) | $ 136104 | $ 88746 |
| 1 | total tier 2 capital | 48616 | 43496 |
| 2 | total capital | $ 184720 | $ 132242 |
| 3 | risk-weighted assets | $ 1244659 | $ 1051879 |
| 4 | total adjusted average assets | 1966895 | 1473541 |
|
jpmorgan chase & co .
/ 2008 annual report 83 credit risk capital credit risk capital is estimated separately for the wholesale business- es ( ib , cb , tss and am ) and consumer businesses ( rfs and cs ) .
credit risk capital for the overall wholesale credit portfolio is defined in terms of unexpected credit losses , both from defaults and declines in the portfolio value due to credit deterioration , measured over a one-year period at a confidence level consistent with an 201caa 201d credit rating standard .
unexpected losses are losses in excess of those for which provisions for credit losses are maintained .
the capital methodology is based upon several principal drivers of credit risk : exposure at default ( or loan-equivalent amount ) , default likelihood , credit spreads , loss severity and portfolio correlation .
credit risk capital for the consumer portfolio is based upon product and other relevant risk segmentation .
actual segment level default and severity experience are used to estimate unexpected losses for a one-year horizon at a confidence level consistent with an 201caa 201d credit rating standard .
statistical results for certain segments or portfolios are adjusted to ensure that capital is consistent with external bench- marks , such as subordination levels on market transactions or capital held at representative monoline competitors , where appropriate .
market risk capital the firm calculates market risk capital guided by the principle that capital should reflect the risk of loss in the value of portfolios and financial instruments caused by adverse movements in market vari- ables , such as interest and foreign exchange rates , credit spreads , securities prices and commodities prices .
daily value-at-risk ( 201cvar 201d ) , biweekly stress-test results and other factors are used to determine appropriate capital levels .
the firm allocates market risk capital to each business segment according to a formula that weights that seg- ment 2019s var and stress-test exposures .
see market risk management on pages 111 2013116 of this annual report for more information about these market risk measures .
operational risk capital capital is allocated to the lines of business for operational risk using a risk-based capital allocation methodology which estimates opera- tional risk on a bottom-up basis .
the operational risk capital model is based upon actual losses and potential scenario-based stress losses , with adjustments to the capital calculation to reflect changes in the quality of the control environment or the use of risk-transfer prod- ucts .
the firm believes its model is consistent with the new basel ii framework .
private equity risk capital capital is allocated to privately and publicly held securities , third-party fund investments and commitments in the private equity portfolio to cover the potential loss associated with a decline in equity markets and related asset devaluations .
in addition to negative market fluctua- tions , potential losses in private equity investment portfolios can be magnified by liquidity risk .
the capital allocation for the private equity portfolio is based upon measurement of the loss experience suffered by the firm and other market participants over a prolonged period of adverse equity market conditions .
regulatory capital the board of governors of the federal reserve system ( the 201cfederal reserve 201d ) establishes capital requirements , including well-capitalized standards for the consolidated financial holding company .
the office of the comptroller of the currency ( 201cocc 201d ) establishes similar capital requirements and standards for the firm 2019s national banks , including jpmorgan chase bank , n.a. , and chase bank usa , n.a .
the federal reserve granted the firm , for a period of 18 months fol- lowing the bear stearns merger , relief up to a certain specified amount and subject to certain conditions from the federal reserve 2019s risk-based capital and leverage requirements with respect to bear stearns 2019 risk-weighted assets and other exposures acquired .
the amount of such relief is subject to reduction by one-sixth each quarter subsequent to the merger and expires on october 1 , 2009 .
the occ granted jpmorgan chase bank , n.a .
similar relief from its risk-based capital and leverage requirements .
jpmorgan chase maintained a well-capitalized position , based upon tier 1 and total capital ratios at december 31 , 2008 and 2007 , as indicated in the tables below .
for more information , see note 30 on pages 212 2013213 of this annual report .
risk-based capital components and assets ._| | december 31 ( in millions ) | 2008 | 2007 |
|---:|:------------------------------|:----------|:----------|
| 0 | total tier 1capital ( a ) | $ 136104 | $ 88746 |
| 1 | total tier 2 capital | 48616 | 43496 |
| 2 | total capital | $ 184720 | $ 132242 |
| 3 | risk-weighted assets | $ 1244659 | $ 1051879 |
| 4 | total adjusted average assets | 1966895 | 1473541 |_( a ) the fasb has been deliberating certain amendments to both sfas 140 and fin 46r that may impact the accounting for transactions that involve qspes and vies .
based on the provisions of the current proposal and the firm 2019s interpretation of the propos- al , the firm estimates that the impact of consolidation could be up to $ 70 billion of credit card receivables , $ 40 billion of assets related to firm-sponsored multi-seller conduits , and $ 50 billion of other loans ( including residential mortgages ) ; the decrease in the tier 1 capital ratio could be approximately 80 basis points .
the ulti- mate impact could differ significantly due to the fasb 2019s continuing deliberations on the final requirements of the rule and market conditions. .
| 2,008
| 85
|
JPM
|
JPMorgan Chase
|
Financials
|
Diversified Banks
|
New York City, New York
|
1975-06-30
| 19,617
|
2000 (1799 / 1871)
|
what was jpmorgan chase & co's common equity tier 1 ( cet1 ) ratio in 2008?
|
10.94%
|
divide(136104, 1244659)
|
jpmorgan chase & co .
/ 2008 annual report 83 credit risk capital credit risk capital is estimated separately for the wholesale business- es ( ib , cb , tss and am ) and consumer businesses ( rfs and cs ) .
credit risk capital for the overall wholesale credit portfolio is defined in terms of unexpected credit losses , both from defaults and declines in the portfolio value due to credit deterioration , measured over a one-year period at a confidence level consistent with an 201caa 201d credit rating standard .
unexpected losses are losses in excess of those for which provisions for credit losses are maintained .
the capital methodology is based upon several principal drivers of credit risk : exposure at default ( or loan-equivalent amount ) , default likelihood , credit spreads , loss severity and portfolio correlation .
credit risk capital for the consumer portfolio is based upon product and other relevant risk segmentation .
actual segment level default and severity experience are used to estimate unexpected losses for a one-year horizon at a confidence level consistent with an 201caa 201d credit rating standard .
statistical results for certain segments or portfolios are adjusted to ensure that capital is consistent with external bench- marks , such as subordination levels on market transactions or capital held at representative monoline competitors , where appropriate .
market risk capital the firm calculates market risk capital guided by the principle that capital should reflect the risk of loss in the value of portfolios and financial instruments caused by adverse movements in market vari- ables , such as interest and foreign exchange rates , credit spreads , securities prices and commodities prices .
daily value-at-risk ( 201cvar 201d ) , biweekly stress-test results and other factors are used to determine appropriate capital levels .
the firm allocates market risk capital to each business segment according to a formula that weights that seg- ment 2019s var and stress-test exposures .
see market risk management on pages 111 2013116 of this annual report for more information about these market risk measures .
operational risk capital capital is allocated to the lines of business for operational risk using a risk-based capital allocation methodology which estimates opera- tional risk on a bottom-up basis .
the operational risk capital model is based upon actual losses and potential scenario-based stress losses , with adjustments to the capital calculation to reflect changes in the quality of the control environment or the use of risk-transfer prod- ucts .
the firm believes its model is consistent with the new basel ii framework .
private equity risk capital capital is allocated to privately and publicly held securities , third-party fund investments and commitments in the private equity portfolio to cover the potential loss associated with a decline in equity markets and related asset devaluations .
in addition to negative market fluctua- tions , potential losses in private equity investment portfolios can be magnified by liquidity risk .
the capital allocation for the private equity portfolio is based upon measurement of the loss experience suffered by the firm and other market participants over a prolonged period of adverse equity market conditions .
regulatory capital the board of governors of the federal reserve system ( the 201cfederal reserve 201d ) establishes capital requirements , including well-capitalized standards for the consolidated financial holding company .
the office of the comptroller of the currency ( 201cocc 201d ) establishes similar capital requirements and standards for the firm 2019s national banks , including jpmorgan chase bank , n.a. , and chase bank usa , n.a .
the federal reserve granted the firm , for a period of 18 months fol- lowing the bear stearns merger , relief up to a certain specified amount and subject to certain conditions from the federal reserve 2019s risk-based capital and leverage requirements with respect to bear stearns 2019 risk-weighted assets and other exposures acquired .
the amount of such relief is subject to reduction by one-sixth each quarter subsequent to the merger and expires on october 1 , 2009 .
the occ granted jpmorgan chase bank , n.a .
similar relief from its risk-based capital and leverage requirements .
jpmorgan chase maintained a well-capitalized position , based upon tier 1 and total capital ratios at december 31 , 2008 and 2007 , as indicated in the tables below .
for more information , see note 30 on pages 212 2013213 of this annual report .
risk-based capital components and assets .
|
( a ) the fasb has been deliberating certain amendments to both sfas 140 and fin 46r that may impact the accounting for transactions that involve qspes and vies .
based on the provisions of the current proposal and the firm 2019s interpretation of the propos- al , the firm estimates that the impact of consolidation could be up to $ 70 billion of credit card receivables , $ 40 billion of assets related to firm-sponsored multi-seller conduits , and $ 50 billion of other loans ( including residential mortgages ) ; the decrease in the tier 1 capital ratio could be approximately 80 basis points .
the ulti- mate impact could differ significantly due to the fasb 2019s continuing deliberations on the final requirements of the rule and market conditions. .
|
| | december 31 ( in millions ) | 2008 | 2007 |
|---:|:------------------------------|:----------|:----------|
| 0 | total tier 1capital ( a ) | $ 136104 | $ 88746 |
| 1 | total tier 2 capital | 48616 | 43496 |
| 2 | total capital | $ 184720 | $ 132242 |
| 3 | risk-weighted assets | $ 1244659 | $ 1051879 |
| 4 | total adjusted average assets | 1966895 | 1473541 |
|
jpmorgan chase & co .
/ 2008 annual report 83 credit risk capital credit risk capital is estimated separately for the wholesale business- es ( ib , cb , tss and am ) and consumer businesses ( rfs and cs ) .
credit risk capital for the overall wholesale credit portfolio is defined in terms of unexpected credit losses , both from defaults and declines in the portfolio value due to credit deterioration , measured over a one-year period at a confidence level consistent with an 201caa 201d credit rating standard .
unexpected losses are losses in excess of those for which provisions for credit losses are maintained .
the capital methodology is based upon several principal drivers of credit risk : exposure at default ( or loan-equivalent amount ) , default likelihood , credit spreads , loss severity and portfolio correlation .
credit risk capital for the consumer portfolio is based upon product and other relevant risk segmentation .
actual segment level default and severity experience are used to estimate unexpected losses for a one-year horizon at a confidence level consistent with an 201caa 201d credit rating standard .
statistical results for certain segments or portfolios are adjusted to ensure that capital is consistent with external bench- marks , such as subordination levels on market transactions or capital held at representative monoline competitors , where appropriate .
market risk capital the firm calculates market risk capital guided by the principle that capital should reflect the risk of loss in the value of portfolios and financial instruments caused by adverse movements in market vari- ables , such as interest and foreign exchange rates , credit spreads , securities prices and commodities prices .
daily value-at-risk ( 201cvar 201d ) , biweekly stress-test results and other factors are used to determine appropriate capital levels .
the firm allocates market risk capital to each business segment according to a formula that weights that seg- ment 2019s var and stress-test exposures .
see market risk management on pages 111 2013116 of this annual report for more information about these market risk measures .
operational risk capital capital is allocated to the lines of business for operational risk using a risk-based capital allocation methodology which estimates opera- tional risk on a bottom-up basis .
the operational risk capital model is based upon actual losses and potential scenario-based stress losses , with adjustments to the capital calculation to reflect changes in the quality of the control environment or the use of risk-transfer prod- ucts .
the firm believes its model is consistent with the new basel ii framework .
private equity risk capital capital is allocated to privately and publicly held securities , third-party fund investments and commitments in the private equity portfolio to cover the potential loss associated with a decline in equity markets and related asset devaluations .
in addition to negative market fluctua- tions , potential losses in private equity investment portfolios can be magnified by liquidity risk .
the capital allocation for the private equity portfolio is based upon measurement of the loss experience suffered by the firm and other market participants over a prolonged period of adverse equity market conditions .
regulatory capital the board of governors of the federal reserve system ( the 201cfederal reserve 201d ) establishes capital requirements , including well-capitalized standards for the consolidated financial holding company .
the office of the comptroller of the currency ( 201cocc 201d ) establishes similar capital requirements and standards for the firm 2019s national banks , including jpmorgan chase bank , n.a. , and chase bank usa , n.a .
the federal reserve granted the firm , for a period of 18 months fol- lowing the bear stearns merger , relief up to a certain specified amount and subject to certain conditions from the federal reserve 2019s risk-based capital and leverage requirements with respect to bear stearns 2019 risk-weighted assets and other exposures acquired .
the amount of such relief is subject to reduction by one-sixth each quarter subsequent to the merger and expires on october 1 , 2009 .
the occ granted jpmorgan chase bank , n.a .
similar relief from its risk-based capital and leverage requirements .
jpmorgan chase maintained a well-capitalized position , based upon tier 1 and total capital ratios at december 31 , 2008 and 2007 , as indicated in the tables below .
for more information , see note 30 on pages 212 2013213 of this annual report .
risk-based capital components and assets ._| | december 31 ( in millions ) | 2008 | 2007 |
|---:|:------------------------------|:----------|:----------|
| 0 | total tier 1capital ( a ) | $ 136104 | $ 88746 |
| 1 | total tier 2 capital | 48616 | 43496 |
| 2 | total capital | $ 184720 | $ 132242 |
| 3 | risk-weighted assets | $ 1244659 | $ 1051879 |
| 4 | total adjusted average assets | 1966895 | 1473541 |_( a ) the fasb has been deliberating certain amendments to both sfas 140 and fin 46r that may impact the accounting for transactions that involve qspes and vies .
based on the provisions of the current proposal and the firm 2019s interpretation of the propos- al , the firm estimates that the impact of consolidation could be up to $ 70 billion of credit card receivables , $ 40 billion of assets related to firm-sponsored multi-seller conduits , and $ 50 billion of other loans ( including residential mortgages ) ; the decrease in the tier 1 capital ratio could be approximately 80 basis points .
the ulti- mate impact could differ significantly due to the fasb 2019s continuing deliberations on the final requirements of the rule and market conditions. .
| 2,008
| 85
|
JPM
|
JPMorgan Chase
|
Financials
|
Diversified Banks
|
New York City, New York
|
1975-06-30
| 19,617
|
2000 (1799 / 1871)
| null | null |
finqa7
|
at the end of 2014 , the notional value of derivatives designated as hedging instruments under gaap was what percent of the fair value?
|
3044%
|
divide(36197, 1189)
|
note 17 financial derivatives we use derivative financial instruments ( derivatives ) primarily to help manage exposure to interest rate , market and credit risk and reduce the effects that changes in interest rates may have on net income , fair value of assets and liabilities , and cash flows .
we also enter into derivatives with customers to facilitate their risk management activities .
derivatives represent contracts between parties that usually require little or no initial net investment and result in one party delivering cash or another type of asset to the other party based on a notional amount and an underlying as specified in the contract .
derivative transactions are often measured in terms of notional amount , but this amount is generally not exchanged and it is not recorded on the balance sheet .
the notional amount is the basis to which the underlying is applied to determine required payments under the derivative contract .
the underlying is a referenced interest rate ( commonly libor ) , security price , credit spread or other index .
residential and commercial real estate loan commitments associated with loans to be sold also qualify as derivative instruments .
the following table presents the notional amounts and gross fair values of all derivative assets and liabilities held by pnc : table 127 : total gross derivatives .
|
( a ) included in other assets on our consolidated balance sheet .
( b ) included in other liabilities on our consolidated balance sheet .
all derivatives are carried on our consolidated balance sheet at fair value .
derivative balances are presented on the consolidated balance sheet on a net basis taking into consideration the effects of legally enforceable master netting agreements and any related cash collateral exchanged with counterparties .
further discussion regarding the rights of setoff associated with these legally enforceable master netting agreements is included in the offsetting , counterparty credit risk , and contingent features section below .
our exposure related to risk participations where we sold protection is discussed in the credit derivatives section below .
any nonperformance risk , including credit risk , is included in the determination of the estimated net fair value of the derivatives .
further discussion on how derivatives are accounted for is included in note 1 accounting policies .
derivatives designated as hedging instruments under gaap certain derivatives used to manage interest rate risk as part of our asset and liability risk management activities are designated as accounting hedges under gaap .
derivatives hedging the risks associated with changes in the fair value of assets or liabilities are considered fair value hedges , derivatives hedging the variability of expected future cash flows are considered cash flow hedges , and derivatives hedging a net investment in a foreign subsidiary are considered net investment hedges .
designating derivatives as accounting hedges allows for gains and losses on those derivatives , to the extent effective , to be recognized in the income statement in the same period the hedged items affect earnings .
the pnc financial services group , inc .
2013 form 10-k 189 .
|
| | in millions | december 31 2013 notional/contractamount | december 31 2013 assetfairvalue ( a ) | december 31 2013 liabilityfairvalue ( b ) | december 31 2013 notional/contractamount | december 31 2013 assetfairvalue ( a ) | liabilityfairvalue ( b ) |
|---:|:-------------------------------------------------------------|:-------------------------------------------|:----------------------------------------|:--------------------------------------------|:-------------------------------------------|:----------------------------------------|:---------------------------|
| 0 | derivatives designated as hedging instruments under gaap | $ 36197 | $ 1189 | $ 364 | $ 29270 | $ 1872 | $ 152 |
| 1 | derivatives not designated as hedging instruments under gaap | 345059 | 3604 | 3570 | 337086 | 6696 | 6458 |
| 2 | total gross derivatives | $ 381256 | $ 4793 | $ 3934 | $ 366356 | $ 8568 | $ 6610 |
|
note 17 financial derivatives we use derivative financial instruments ( derivatives ) primarily to help manage exposure to interest rate , market and credit risk and reduce the effects that changes in interest rates may have on net income , fair value of assets and liabilities , and cash flows .
we also enter into derivatives with customers to facilitate their risk management activities .
derivatives represent contracts between parties that usually require little or no initial net investment and result in one party delivering cash or another type of asset to the other party based on a notional amount and an underlying as specified in the contract .
derivative transactions are often measured in terms of notional amount , but this amount is generally not exchanged and it is not recorded on the balance sheet .
the notional amount is the basis to which the underlying is applied to determine required payments under the derivative contract .
the underlying is a referenced interest rate ( commonly libor ) , security price , credit spread or other index .
residential and commercial real estate loan commitments associated with loans to be sold also qualify as derivative instruments .
the following table presents the notional amounts and gross fair values of all derivative assets and liabilities held by pnc : table 127 : total gross derivatives ._| | in millions | december 31 2013 notional/contractamount | december 31 2013 assetfairvalue ( a ) | december 31 2013 liabilityfairvalue ( b ) | december 31 2013 notional/contractamount | december 31 2013 assetfairvalue ( a ) | liabilityfairvalue ( b ) |
|---:|:-------------------------------------------------------------|:-------------------------------------------|:----------------------------------------|:--------------------------------------------|:-------------------------------------------|:----------------------------------------|:---------------------------|
| 0 | derivatives designated as hedging instruments under gaap | $ 36197 | $ 1189 | $ 364 | $ 29270 | $ 1872 | $ 152 |
| 1 | derivatives not designated as hedging instruments under gaap | 345059 | 3604 | 3570 | 337086 | 6696 | 6458 |
| 2 | total gross derivatives | $ 381256 | $ 4793 | $ 3934 | $ 366356 | $ 8568 | $ 6610 |_( a ) included in other assets on our consolidated balance sheet .
( b ) included in other liabilities on our consolidated balance sheet .
all derivatives are carried on our consolidated balance sheet at fair value .
derivative balances are presented on the consolidated balance sheet on a net basis taking into consideration the effects of legally enforceable master netting agreements and any related cash collateral exchanged with counterparties .
further discussion regarding the rights of setoff associated with these legally enforceable master netting agreements is included in the offsetting , counterparty credit risk , and contingent features section below .
our exposure related to risk participations where we sold protection is discussed in the credit derivatives section below .
any nonperformance risk , including credit risk , is included in the determination of the estimated net fair value of the derivatives .
further discussion on how derivatives are accounted for is included in note 1 accounting policies .
derivatives designated as hedging instruments under gaap certain derivatives used to manage interest rate risk as part of our asset and liability risk management activities are designated as accounting hedges under gaap .
derivatives hedging the risks associated with changes in the fair value of assets or liabilities are considered fair value hedges , derivatives hedging the variability of expected future cash flows are considered cash flow hedges , and derivatives hedging a net investment in a foreign subsidiary are considered net investment hedges .
designating derivatives as accounting hedges allows for gains and losses on those derivatives , to the extent effective , to be recognized in the income statement in the same period the hedged items affect earnings .
the pnc financial services group , inc .
2013 form 10-k 189 .
| 2,013
| 207
|
PNC
|
PNC Financial Services
|
Financials
|
Diversified Banks
|
Pittsburgh, Pennsylvania
|
1988-04-30
| 713,676
|
1845
|
at the end of 2014 , the notional value of derivatives designated as hedging instruments under gaap was what percent of the fair value?
|
3044%
|
divide(36197, 1189)
|
note 17 financial derivatives we use derivative financial instruments ( derivatives ) primarily to help manage exposure to interest rate , market and credit risk and reduce the effects that changes in interest rates may have on net income , fair value of assets and liabilities , and cash flows .
we also enter into derivatives with customers to facilitate their risk management activities .
derivatives represent contracts between parties that usually require little or no initial net investment and result in one party delivering cash or another type of asset to the other party based on a notional amount and an underlying as specified in the contract .
derivative transactions are often measured in terms of notional amount , but this amount is generally not exchanged and it is not recorded on the balance sheet .
the notional amount is the basis to which the underlying is applied to determine required payments under the derivative contract .
the underlying is a referenced interest rate ( commonly libor ) , security price , credit spread or other index .
residential and commercial real estate loan commitments associated with loans to be sold also qualify as derivative instruments .
the following table presents the notional amounts and gross fair values of all derivative assets and liabilities held by pnc : table 127 : total gross derivatives .
|
( a ) included in other assets on our consolidated balance sheet .
( b ) included in other liabilities on our consolidated balance sheet .
all derivatives are carried on our consolidated balance sheet at fair value .
derivative balances are presented on the consolidated balance sheet on a net basis taking into consideration the effects of legally enforceable master netting agreements and any related cash collateral exchanged with counterparties .
further discussion regarding the rights of setoff associated with these legally enforceable master netting agreements is included in the offsetting , counterparty credit risk , and contingent features section below .
our exposure related to risk participations where we sold protection is discussed in the credit derivatives section below .
any nonperformance risk , including credit risk , is included in the determination of the estimated net fair value of the derivatives .
further discussion on how derivatives are accounted for is included in note 1 accounting policies .
derivatives designated as hedging instruments under gaap certain derivatives used to manage interest rate risk as part of our asset and liability risk management activities are designated as accounting hedges under gaap .
derivatives hedging the risks associated with changes in the fair value of assets or liabilities are considered fair value hedges , derivatives hedging the variability of expected future cash flows are considered cash flow hedges , and derivatives hedging a net investment in a foreign subsidiary are considered net investment hedges .
designating derivatives as accounting hedges allows for gains and losses on those derivatives , to the extent effective , to be recognized in the income statement in the same period the hedged items affect earnings .
the pnc financial services group , inc .
2013 form 10-k 189 .
|
| | in millions | december 31 2013 notional/contractamount | december 31 2013 assetfairvalue ( a ) | december 31 2013 liabilityfairvalue ( b ) | december 31 2013 notional/contractamount | december 31 2013 assetfairvalue ( a ) | liabilityfairvalue ( b ) |
|---:|:-------------------------------------------------------------|:-------------------------------------------|:----------------------------------------|:--------------------------------------------|:-------------------------------------------|:----------------------------------------|:---------------------------|
| 0 | derivatives designated as hedging instruments under gaap | $ 36197 | $ 1189 | $ 364 | $ 29270 | $ 1872 | $ 152 |
| 1 | derivatives not designated as hedging instruments under gaap | 345059 | 3604 | 3570 | 337086 | 6696 | 6458 |
| 2 | total gross derivatives | $ 381256 | $ 4793 | $ 3934 | $ 366356 | $ 8568 | $ 6610 |
|
note 17 financial derivatives we use derivative financial instruments ( derivatives ) primarily to help manage exposure to interest rate , market and credit risk and reduce the effects that changes in interest rates may have on net income , fair value of assets and liabilities , and cash flows .
we also enter into derivatives with customers to facilitate their risk management activities .
derivatives represent contracts between parties that usually require little or no initial net investment and result in one party delivering cash or another type of asset to the other party based on a notional amount and an underlying as specified in the contract .
derivative transactions are often measured in terms of notional amount , but this amount is generally not exchanged and it is not recorded on the balance sheet .
the notional amount is the basis to which the underlying is applied to determine required payments under the derivative contract .
the underlying is a referenced interest rate ( commonly libor ) , security price , credit spread or other index .
residential and commercial real estate loan commitments associated with loans to be sold also qualify as derivative instruments .
the following table presents the notional amounts and gross fair values of all derivative assets and liabilities held by pnc : table 127 : total gross derivatives ._| | in millions | december 31 2013 notional/contractamount | december 31 2013 assetfairvalue ( a ) | december 31 2013 liabilityfairvalue ( b ) | december 31 2013 notional/contractamount | december 31 2013 assetfairvalue ( a ) | liabilityfairvalue ( b ) |
|---:|:-------------------------------------------------------------|:-------------------------------------------|:----------------------------------------|:--------------------------------------------|:-------------------------------------------|:----------------------------------------|:---------------------------|
| 0 | derivatives designated as hedging instruments under gaap | $ 36197 | $ 1189 | $ 364 | $ 29270 | $ 1872 | $ 152 |
| 1 | derivatives not designated as hedging instruments under gaap | 345059 | 3604 | 3570 | 337086 | 6696 | 6458 |
| 2 | total gross derivatives | $ 381256 | $ 4793 | $ 3934 | $ 366356 | $ 8568 | $ 6610 |_( a ) included in other assets on our consolidated balance sheet .
( b ) included in other liabilities on our consolidated balance sheet .
all derivatives are carried on our consolidated balance sheet at fair value .
derivative balances are presented on the consolidated balance sheet on a net basis taking into consideration the effects of legally enforceable master netting agreements and any related cash collateral exchanged with counterparties .
further discussion regarding the rights of setoff associated with these legally enforceable master netting agreements is included in the offsetting , counterparty credit risk , and contingent features section below .
our exposure related to risk participations where we sold protection is discussed in the credit derivatives section below .
any nonperformance risk , including credit risk , is included in the determination of the estimated net fair value of the derivatives .
further discussion on how derivatives are accounted for is included in note 1 accounting policies .
derivatives designated as hedging instruments under gaap certain derivatives used to manage interest rate risk as part of our asset and liability risk management activities are designated as accounting hedges under gaap .
derivatives hedging the risks associated with changes in the fair value of assets or liabilities are considered fair value hedges , derivatives hedging the variability of expected future cash flows are considered cash flow hedges , and derivatives hedging a net investment in a foreign subsidiary are considered net investment hedges .
designating derivatives as accounting hedges allows for gains and losses on those derivatives , to the extent effective , to be recognized in the income statement in the same period the hedged items affect earnings .
the pnc financial services group , inc .
2013 form 10-k 189 .
| 2,013
| 207
|
PNC
|
PNC Financial Services
|
Financials
|
Diversified Banks
|
Pittsburgh, Pennsylvania
|
1988-04-30
| 713,676
|
1845
| null | null |
finqa8
|
what was the increase in class a common stock issued and outstanding between years , in thousands?
|
995
|
subtract(339235, 338240)
|
14 .
capital stock shares outstanding .
the following table presents information regarding capital stock: .
|
cme group has no shares of preferred stock issued and outstanding .
associated trading rights .
members of cme , cbot , nymex and comex own or lease trading rights which entitle them to access open outcry trading , discounts on trading fees and the right to vote on certain exchange matters as provided for by the rules of the particular exchange and cme group 2019s or the subsidiaries 2019 organizational documents .
each class of cme group class b common stock is associated with a membership in a specific division for trading at cme .
a cme trading right is a separate asset that is not part of or evidenced by the associated share of class b common stock of cme group .
the class b common stock of cme group is intended only to ensure that the class b shareholders of cme group retain rights with respect to representation on the board of directors and approval rights with respect to the core rights described below .
trading rights at cbot are evidenced by class b memberships in cbot , at nymex by class a memberships in nymex and at comex by comex division memberships .
members of cbot , nymex and comex do not have any rights to elect members of the board of directors and are not entitled to receive dividends or other distributions on their memberships or trading permits .
core rights .
holders of cme group class b common shares have the right to approve changes in specified rights relating to the trading privileges at cme associated with those shares .
these core rights relate primarily to trading right protections , certain trading fee protections and certain membership benefit protections .
votes on changes to these core rights are weighted by class .
each class of class b common stock has the following number of votes on matters relating to core rights : class b-1 , six votes per share ; class b-2 , two votes per share ; class b-3 , one vote per share ; and class b-4 , 1/6th of one vote per share .
the approval of a majority of the votes cast by the holders of shares of class b common stock is required in order to approve any changes to core rights .
holders of shares of class a common stock do not have the right to vote on changes to core rights .
voting rights .
with the exception of the matters reserved to holders of cme group class b common stock , holders of cme group common stock vote together on all matters for which a vote of common shareholders is required .
in these votes , each holder of shares of class a or class b common stock of cme group has one vote per share .
transfer restrictions .
each class of cme group class b common stock is subject to transfer restrictions contained in the certificate of incorporation of cme group .
these transfer restrictions prohibit the sale or transfer of any shares of class b common stock separate from the sale of the associated trading rights .
election of directors .
the cme group board of directors is currently comprised of 20 members .
holders of class b-1 , class b-2 and class b-3 common stock have the right to elect six directors , of which three are elected by class b-1 shareholders , two are elected by class b-2 shareholders and one is elected by class b-3 shareholders .
the remaining directors are elected by the class a and class b shareholders voting as a single class. .
|
| | ( in thousands ) | december 31 , 2017 | december 31 , 2016 |
|---:|:---------------------------------------------------------|---------------------:|---------------------:|
| 0 | class a common stock authorized | 1e+06 | 1e+06 |
| 1 | class a common stock issued and outstanding | 339235 | 338240 |
| 2 | class b-1 common stock authorized issued and outstanding | 0.6 | 0.6 |
| 3 | class b-2 common stock authorized issued and outstanding | 0.8 | 0.8 |
| 4 | class b-3 common stock authorized issued and outstanding | 1.3 | 1.3 |
| 5 | class b-4 common stock authorized issued and outstanding | 0.4 | 0.4 |
|
14 .
capital stock shares outstanding .
the following table presents information regarding capital stock: ._| | ( in thousands ) | december 31 , 2017 | december 31 , 2016 |
|---:|:---------------------------------------------------------|---------------------:|---------------------:|
| 0 | class a common stock authorized | 1e+06 | 1e+06 |
| 1 | class a common stock issued and outstanding | 339235 | 338240 |
| 2 | class b-1 common stock authorized issued and outstanding | 0.6 | 0.6 |
| 3 | class b-2 common stock authorized issued and outstanding | 0.8 | 0.8 |
| 4 | class b-3 common stock authorized issued and outstanding | 1.3 | 1.3 |
| 5 | class b-4 common stock authorized issued and outstanding | 0.4 | 0.4 |_cme group has no shares of preferred stock issued and outstanding .
associated trading rights .
members of cme , cbot , nymex and comex own or lease trading rights which entitle them to access open outcry trading , discounts on trading fees and the right to vote on certain exchange matters as provided for by the rules of the particular exchange and cme group 2019s or the subsidiaries 2019 organizational documents .
each class of cme group class b common stock is associated with a membership in a specific division for trading at cme .
a cme trading right is a separate asset that is not part of or evidenced by the associated share of class b common stock of cme group .
the class b common stock of cme group is intended only to ensure that the class b shareholders of cme group retain rights with respect to representation on the board of directors and approval rights with respect to the core rights described below .
trading rights at cbot are evidenced by class b memberships in cbot , at nymex by class a memberships in nymex and at comex by comex division memberships .
members of cbot , nymex and comex do not have any rights to elect members of the board of directors and are not entitled to receive dividends or other distributions on their memberships or trading permits .
core rights .
holders of cme group class b common shares have the right to approve changes in specified rights relating to the trading privileges at cme associated with those shares .
these core rights relate primarily to trading right protections , certain trading fee protections and certain membership benefit protections .
votes on changes to these core rights are weighted by class .
each class of class b common stock has the following number of votes on matters relating to core rights : class b-1 , six votes per share ; class b-2 , two votes per share ; class b-3 , one vote per share ; and class b-4 , 1/6th of one vote per share .
the approval of a majority of the votes cast by the holders of shares of class b common stock is required in order to approve any changes to core rights .
holders of shares of class a common stock do not have the right to vote on changes to core rights .
voting rights .
with the exception of the matters reserved to holders of cme group class b common stock , holders of cme group common stock vote together on all matters for which a vote of common shareholders is required .
in these votes , each holder of shares of class a or class b common stock of cme group has one vote per share .
transfer restrictions .
each class of cme group class b common stock is subject to transfer restrictions contained in the certificate of incorporation of cme group .
these transfer restrictions prohibit the sale or transfer of any shares of class b common stock separate from the sale of the associated trading rights .
election of directors .
the cme group board of directors is currently comprised of 20 members .
holders of class b-1 , class b-2 and class b-3 common stock have the right to elect six directors , of which three are elected by class b-1 shareholders , two are elected by class b-2 shareholders and one is elected by class b-3 shareholders .
the remaining directors are elected by the class a and class b shareholders voting as a single class. .
| 2,017
| 97
|
CME
|
CME Group
|
Financials
|
Financial Exchanges & Data
|
Chicago, Illinois
|
2006-08-11
| 1,156,375
|
1848
|
what was the increase in class a common stock issued and outstanding between years , in thousands?
|
995
|
subtract(339235, 338240)
|
14 .
capital stock shares outstanding .
the following table presents information regarding capital stock: .
|
cme group has no shares of preferred stock issued and outstanding .
associated trading rights .
members of cme , cbot , nymex and comex own or lease trading rights which entitle them to access open outcry trading , discounts on trading fees and the right to vote on certain exchange matters as provided for by the rules of the particular exchange and cme group 2019s or the subsidiaries 2019 organizational documents .
each class of cme group class b common stock is associated with a membership in a specific division for trading at cme .
a cme trading right is a separate asset that is not part of or evidenced by the associated share of class b common stock of cme group .
the class b common stock of cme group is intended only to ensure that the class b shareholders of cme group retain rights with respect to representation on the board of directors and approval rights with respect to the core rights described below .
trading rights at cbot are evidenced by class b memberships in cbot , at nymex by class a memberships in nymex and at comex by comex division memberships .
members of cbot , nymex and comex do not have any rights to elect members of the board of directors and are not entitled to receive dividends or other distributions on their memberships or trading permits .
core rights .
holders of cme group class b common shares have the right to approve changes in specified rights relating to the trading privileges at cme associated with those shares .
these core rights relate primarily to trading right protections , certain trading fee protections and certain membership benefit protections .
votes on changes to these core rights are weighted by class .
each class of class b common stock has the following number of votes on matters relating to core rights : class b-1 , six votes per share ; class b-2 , two votes per share ; class b-3 , one vote per share ; and class b-4 , 1/6th of one vote per share .
the approval of a majority of the votes cast by the holders of shares of class b common stock is required in order to approve any changes to core rights .
holders of shares of class a common stock do not have the right to vote on changes to core rights .
voting rights .
with the exception of the matters reserved to holders of cme group class b common stock , holders of cme group common stock vote together on all matters for which a vote of common shareholders is required .
in these votes , each holder of shares of class a or class b common stock of cme group has one vote per share .
transfer restrictions .
each class of cme group class b common stock is subject to transfer restrictions contained in the certificate of incorporation of cme group .
these transfer restrictions prohibit the sale or transfer of any shares of class b common stock separate from the sale of the associated trading rights .
election of directors .
the cme group board of directors is currently comprised of 20 members .
holders of class b-1 , class b-2 and class b-3 common stock have the right to elect six directors , of which three are elected by class b-1 shareholders , two are elected by class b-2 shareholders and one is elected by class b-3 shareholders .
the remaining directors are elected by the class a and class b shareholders voting as a single class. .
|
| | ( in thousands ) | december 31 , 2017 | december 31 , 2016 |
|---:|:---------------------------------------------------------|---------------------:|---------------------:|
| 0 | class a common stock authorized | 1e+06 | 1e+06 |
| 1 | class a common stock issued and outstanding | 339235 | 338240 |
| 2 | class b-1 common stock authorized issued and outstanding | 0.6 | 0.6 |
| 3 | class b-2 common stock authorized issued and outstanding | 0.8 | 0.8 |
| 4 | class b-3 common stock authorized issued and outstanding | 1.3 | 1.3 |
| 5 | class b-4 common stock authorized issued and outstanding | 0.4 | 0.4 |
|
14 .
capital stock shares outstanding .
the following table presents information regarding capital stock: ._| | ( in thousands ) | december 31 , 2017 | december 31 , 2016 |
|---:|:---------------------------------------------------------|---------------------:|---------------------:|
| 0 | class a common stock authorized | 1e+06 | 1e+06 |
| 1 | class a common stock issued and outstanding | 339235 | 338240 |
| 2 | class b-1 common stock authorized issued and outstanding | 0.6 | 0.6 |
| 3 | class b-2 common stock authorized issued and outstanding | 0.8 | 0.8 |
| 4 | class b-3 common stock authorized issued and outstanding | 1.3 | 1.3 |
| 5 | class b-4 common stock authorized issued and outstanding | 0.4 | 0.4 |_cme group has no shares of preferred stock issued and outstanding .
associated trading rights .
members of cme , cbot , nymex and comex own or lease trading rights which entitle them to access open outcry trading , discounts on trading fees and the right to vote on certain exchange matters as provided for by the rules of the particular exchange and cme group 2019s or the subsidiaries 2019 organizational documents .
each class of cme group class b common stock is associated with a membership in a specific division for trading at cme .
a cme trading right is a separate asset that is not part of or evidenced by the associated share of class b common stock of cme group .
the class b common stock of cme group is intended only to ensure that the class b shareholders of cme group retain rights with respect to representation on the board of directors and approval rights with respect to the core rights described below .
trading rights at cbot are evidenced by class b memberships in cbot , at nymex by class a memberships in nymex and at comex by comex division memberships .
members of cbot , nymex and comex do not have any rights to elect members of the board of directors and are not entitled to receive dividends or other distributions on their memberships or trading permits .
core rights .
holders of cme group class b common shares have the right to approve changes in specified rights relating to the trading privileges at cme associated with those shares .
these core rights relate primarily to trading right protections , certain trading fee protections and certain membership benefit protections .
votes on changes to these core rights are weighted by class .
each class of class b common stock has the following number of votes on matters relating to core rights : class b-1 , six votes per share ; class b-2 , two votes per share ; class b-3 , one vote per share ; and class b-4 , 1/6th of one vote per share .
the approval of a majority of the votes cast by the holders of shares of class b common stock is required in order to approve any changes to core rights .
holders of shares of class a common stock do not have the right to vote on changes to core rights .
voting rights .
with the exception of the matters reserved to holders of cme group class b common stock , holders of cme group common stock vote together on all matters for which a vote of common shareholders is required .
in these votes , each holder of shares of class a or class b common stock of cme group has one vote per share .
transfer restrictions .
each class of cme group class b common stock is subject to transfer restrictions contained in the certificate of incorporation of cme group .
these transfer restrictions prohibit the sale or transfer of any shares of class b common stock separate from the sale of the associated trading rights .
election of directors .
the cme group board of directors is currently comprised of 20 members .
holders of class b-1 , class b-2 and class b-3 common stock have the right to elect six directors , of which three are elected by class b-1 shareholders , two are elected by class b-2 shareholders and one is elected by class b-3 shareholders .
the remaining directors are elected by the class a and class b shareholders voting as a single class. .
| 2,017
| 97
|
CME
|
CME Group
|
Financials
|
Financial Exchanges & Data
|
Chicago, Illinois
|
2006-08-11
| 1,156,375
|
1848
| null | null |
finqa9
|
in millions what was total residential mortgages balance for 2013 and 2012?
|
3576
|
add(1356, 2220)
|
conditions and changes to regulatory capital requirements under basel iii capital standards .
beginning in 2014 , other comprehensive income related to available for sale securities ( as well as pension and other post-retirement plans ) are included in pnc 2019s regulatory capital ( subject to a phase-in schedule ) and , therefore will affect pnc 2019s regulatory capital ratios .
for additional information , see the supervision and regulation section in item 1 2013 business and the capital portion of the balance sheet review section in this item 7 of this report .
the duration of investment securities was 2.9 years at december 31 , 2013 .
we estimate that , at december 31 , 2013 , the effective duration of investment securities was 3.0 years for an immediate 50 basis points parallel increase in interest rates and 2.8 years for an immediate 50 basis points parallel decrease in interest rates .
comparable amounts at december 31 , 2012 were 2.3 years and 2.2 years , respectively .
we conduct a quarterly comprehensive security-level impairment assessment on all securities .
for securities in an unrealized loss position , we determine whether the loss represents otti .
for debt securities that we neither intend to sell nor believe we will be required to sell prior to expected recovery , we recognize the credit portion of otti charges in current earnings and include the noncredit portion of otti in net unrealized gains ( losses ) on otti securities on our consolidated statement of comprehensive income and net of tax in accumulated other comprehensive income ( loss ) on our consolidated balance sheet .
during 2013 and 2012 we recognized otti credit losses of $ 16 million and $ 111 million , respectively .
substantially all of the credit losses related to residential mortgage-backed and asset-backed securities collateralized by non-agency residential loans .
if current housing and economic conditions were to deteriorate from current levels , and if market volatility and illiquidity were to deteriorate from current levels , or if market interest rates were to increase or credit spreads were to widen appreciably , the valuation of our investment securities portfolio could be adversely affected and we could incur additional otti credit losses that would impact our consolidated income statement .
additional information regarding our investment securities is included in note 8 investment securities and note 9 fair value in the notes to consolidated financial statements included in item 8 of this report .
loans held for sale table 15 : loans held for sale in millions december 31 december 31 .
|
for commercial mortgages held for sale designated at fair value , we stopped originating these and continue to pursue opportunities to reduce these positions .
at december 31 , 2013 , the balance relating to these loans was $ 586 million compared to $ 772 million at december 31 , 2012 .
for commercial mortgages held for sale carried at lower of cost or fair value , we sold $ 2.8 billion in 2013 compared to $ 2.2 billion in 2012 .
all of these loan sales were to government agencies .
total gains of $ 79 million were recognized on the valuation and sale of commercial mortgage loans held for sale , net of hedges , in 2013 , and $ 41 million in 2012 .
residential mortgage loan origination volume was $ 15.1 billion in 2013 compared to $ 15.2 billion in 2012 .
substantially all such loans were originated under agency or federal housing administration ( fha ) standards .
we sold $ 14.7 billion of loans and recognized related gains of $ 568 million in 2013 .
the comparable amounts for 2012 were $ 13.8 billion and $ 747 million , respectively .
interest income on loans held for sale was $ 157 million in 2013 and $ 168 million in 2012 .
these amounts are included in other interest income on our consolidated income statement .
additional information regarding our loan sale and servicing activities is included in note 3 loan sales and servicing activities and variable interest entities and note 9 fair value in our notes to consolidated financial statements included in item 8 of this report .
goodwill and other intangible assets goodwill and other intangible assets totaled $ 11.3 billion at december 31 , 2013 and $ 10.9 billion at december 31 , 2012 .
the increase of $ .4 billion was primarily due to additions to and changes in value of mortgage and other loan servicing rights .
see additional information regarding our goodwill and intangible assets in note 10 goodwill and other intangible assets included in the notes to consolidated financial statements in item 8 of this report .
44 the pnc financial services group , inc .
2013 form 10-k .
|
| | in millions | december 312013 | december 312012 |
|---:|:-----------------------------------------------------|:------------------|:------------------|
| 0 | commercial mortgages at fair value | $ 586 | $ 772 |
| 1 | commercial mortgages at lower of cost or fair value | 281 | 620 |
| 2 | total commercial mortgages | 867 | 1392 |
| 3 | residential mortgages at fair value | 1315 | 2096 |
| 4 | residential mortgages at lower of cost or fair value | 41 | 124 |
| 5 | total residential mortgages | 1356 | 2220 |
| 6 | other | 32 | 81 |
| 7 | total | $ 2255 | $ 3693 |
|
conditions and changes to regulatory capital requirements under basel iii capital standards .
beginning in 2014 , other comprehensive income related to available for sale securities ( as well as pension and other post-retirement plans ) are included in pnc 2019s regulatory capital ( subject to a phase-in schedule ) and , therefore will affect pnc 2019s regulatory capital ratios .
for additional information , see the supervision and regulation section in item 1 2013 business and the capital portion of the balance sheet review section in this item 7 of this report .
the duration of investment securities was 2.9 years at december 31 , 2013 .
we estimate that , at december 31 , 2013 , the effective duration of investment securities was 3.0 years for an immediate 50 basis points parallel increase in interest rates and 2.8 years for an immediate 50 basis points parallel decrease in interest rates .
comparable amounts at december 31 , 2012 were 2.3 years and 2.2 years , respectively .
we conduct a quarterly comprehensive security-level impairment assessment on all securities .
for securities in an unrealized loss position , we determine whether the loss represents otti .
for debt securities that we neither intend to sell nor believe we will be required to sell prior to expected recovery , we recognize the credit portion of otti charges in current earnings and include the noncredit portion of otti in net unrealized gains ( losses ) on otti securities on our consolidated statement of comprehensive income and net of tax in accumulated other comprehensive income ( loss ) on our consolidated balance sheet .
during 2013 and 2012 we recognized otti credit losses of $ 16 million and $ 111 million , respectively .
substantially all of the credit losses related to residential mortgage-backed and asset-backed securities collateralized by non-agency residential loans .
if current housing and economic conditions were to deteriorate from current levels , and if market volatility and illiquidity were to deteriorate from current levels , or if market interest rates were to increase or credit spreads were to widen appreciably , the valuation of our investment securities portfolio could be adversely affected and we could incur additional otti credit losses that would impact our consolidated income statement .
additional information regarding our investment securities is included in note 8 investment securities and note 9 fair value in the notes to consolidated financial statements included in item 8 of this report .
loans held for sale table 15 : loans held for sale in millions december 31 december 31 ._| | in millions | december 312013 | december 312012 |
|---:|:-----------------------------------------------------|:------------------|:------------------|
| 0 | commercial mortgages at fair value | $ 586 | $ 772 |
| 1 | commercial mortgages at lower of cost or fair value | 281 | 620 |
| 2 | total commercial mortgages | 867 | 1392 |
| 3 | residential mortgages at fair value | 1315 | 2096 |
| 4 | residential mortgages at lower of cost or fair value | 41 | 124 |
| 5 | total residential mortgages | 1356 | 2220 |
| 6 | other | 32 | 81 |
| 7 | total | $ 2255 | $ 3693 |_for commercial mortgages held for sale designated at fair value , we stopped originating these and continue to pursue opportunities to reduce these positions .
at december 31 , 2013 , the balance relating to these loans was $ 586 million compared to $ 772 million at december 31 , 2012 .
for commercial mortgages held for sale carried at lower of cost or fair value , we sold $ 2.8 billion in 2013 compared to $ 2.2 billion in 2012 .
all of these loan sales were to government agencies .
total gains of $ 79 million were recognized on the valuation and sale of commercial mortgage loans held for sale , net of hedges , in 2013 , and $ 41 million in 2012 .
residential mortgage loan origination volume was $ 15.1 billion in 2013 compared to $ 15.2 billion in 2012 .
substantially all such loans were originated under agency or federal housing administration ( fha ) standards .
we sold $ 14.7 billion of loans and recognized related gains of $ 568 million in 2013 .
the comparable amounts for 2012 were $ 13.8 billion and $ 747 million , respectively .
interest income on loans held for sale was $ 157 million in 2013 and $ 168 million in 2012 .
these amounts are included in other interest income on our consolidated income statement .
additional information regarding our loan sale and servicing activities is included in note 3 loan sales and servicing activities and variable interest entities and note 9 fair value in our notes to consolidated financial statements included in item 8 of this report .
goodwill and other intangible assets goodwill and other intangible assets totaled $ 11.3 billion at december 31 , 2013 and $ 10.9 billion at december 31 , 2012 .
the increase of $ .4 billion was primarily due to additions to and changes in value of mortgage and other loan servicing rights .
see additional information regarding our goodwill and intangible assets in note 10 goodwill and other intangible assets included in the notes to consolidated financial statements in item 8 of this report .
44 the pnc financial services group , inc .
2013 form 10-k .
| 2,013
| 62
|
PNC
|
PNC Financial Services
|
Financials
|
Diversified Banks
|
Pittsburgh, Pennsylvania
|
1988-04-30
| 713,676
|
1845
|
in millions what was total residential mortgages balance for 2013 and 2012?
|
3576
|
add(1356, 2220)
|
conditions and changes to regulatory capital requirements under basel iii capital standards .
beginning in 2014 , other comprehensive income related to available for sale securities ( as well as pension and other post-retirement plans ) are included in pnc 2019s regulatory capital ( subject to a phase-in schedule ) and , therefore will affect pnc 2019s regulatory capital ratios .
for additional information , see the supervision and regulation section in item 1 2013 business and the capital portion of the balance sheet review section in this item 7 of this report .
the duration of investment securities was 2.9 years at december 31 , 2013 .
we estimate that , at december 31 , 2013 , the effective duration of investment securities was 3.0 years for an immediate 50 basis points parallel increase in interest rates and 2.8 years for an immediate 50 basis points parallel decrease in interest rates .
comparable amounts at december 31 , 2012 were 2.3 years and 2.2 years , respectively .
we conduct a quarterly comprehensive security-level impairment assessment on all securities .
for securities in an unrealized loss position , we determine whether the loss represents otti .
for debt securities that we neither intend to sell nor believe we will be required to sell prior to expected recovery , we recognize the credit portion of otti charges in current earnings and include the noncredit portion of otti in net unrealized gains ( losses ) on otti securities on our consolidated statement of comprehensive income and net of tax in accumulated other comprehensive income ( loss ) on our consolidated balance sheet .
during 2013 and 2012 we recognized otti credit losses of $ 16 million and $ 111 million , respectively .
substantially all of the credit losses related to residential mortgage-backed and asset-backed securities collateralized by non-agency residential loans .
if current housing and economic conditions were to deteriorate from current levels , and if market volatility and illiquidity were to deteriorate from current levels , or if market interest rates were to increase or credit spreads were to widen appreciably , the valuation of our investment securities portfolio could be adversely affected and we could incur additional otti credit losses that would impact our consolidated income statement .
additional information regarding our investment securities is included in note 8 investment securities and note 9 fair value in the notes to consolidated financial statements included in item 8 of this report .
loans held for sale table 15 : loans held for sale in millions december 31 december 31 .
|
for commercial mortgages held for sale designated at fair value , we stopped originating these and continue to pursue opportunities to reduce these positions .
at december 31 , 2013 , the balance relating to these loans was $ 586 million compared to $ 772 million at december 31 , 2012 .
for commercial mortgages held for sale carried at lower of cost or fair value , we sold $ 2.8 billion in 2013 compared to $ 2.2 billion in 2012 .
all of these loan sales were to government agencies .
total gains of $ 79 million were recognized on the valuation and sale of commercial mortgage loans held for sale , net of hedges , in 2013 , and $ 41 million in 2012 .
residential mortgage loan origination volume was $ 15.1 billion in 2013 compared to $ 15.2 billion in 2012 .
substantially all such loans were originated under agency or federal housing administration ( fha ) standards .
we sold $ 14.7 billion of loans and recognized related gains of $ 568 million in 2013 .
the comparable amounts for 2012 were $ 13.8 billion and $ 747 million , respectively .
interest income on loans held for sale was $ 157 million in 2013 and $ 168 million in 2012 .
these amounts are included in other interest income on our consolidated income statement .
additional information regarding our loan sale and servicing activities is included in note 3 loan sales and servicing activities and variable interest entities and note 9 fair value in our notes to consolidated financial statements included in item 8 of this report .
goodwill and other intangible assets goodwill and other intangible assets totaled $ 11.3 billion at december 31 , 2013 and $ 10.9 billion at december 31 , 2012 .
the increase of $ .4 billion was primarily due to additions to and changes in value of mortgage and other loan servicing rights .
see additional information regarding our goodwill and intangible assets in note 10 goodwill and other intangible assets included in the notes to consolidated financial statements in item 8 of this report .
44 the pnc financial services group , inc .
2013 form 10-k .
|
| | in millions | december 312013 | december 312012 |
|---:|:-----------------------------------------------------|:------------------|:------------------|
| 0 | commercial mortgages at fair value | $ 586 | $ 772 |
| 1 | commercial mortgages at lower of cost or fair value | 281 | 620 |
| 2 | total commercial mortgages | 867 | 1392 |
| 3 | residential mortgages at fair value | 1315 | 2096 |
| 4 | residential mortgages at lower of cost or fair value | 41 | 124 |
| 5 | total residential mortgages | 1356 | 2220 |
| 6 | other | 32 | 81 |
| 7 | total | $ 2255 | $ 3693 |
|
conditions and changes to regulatory capital requirements under basel iii capital standards .
beginning in 2014 , other comprehensive income related to available for sale securities ( as well as pension and other post-retirement plans ) are included in pnc 2019s regulatory capital ( subject to a phase-in schedule ) and , therefore will affect pnc 2019s regulatory capital ratios .
for additional information , see the supervision and regulation section in item 1 2013 business and the capital portion of the balance sheet review section in this item 7 of this report .
the duration of investment securities was 2.9 years at december 31 , 2013 .
we estimate that , at december 31 , 2013 , the effective duration of investment securities was 3.0 years for an immediate 50 basis points parallel increase in interest rates and 2.8 years for an immediate 50 basis points parallel decrease in interest rates .
comparable amounts at december 31 , 2012 were 2.3 years and 2.2 years , respectively .
we conduct a quarterly comprehensive security-level impairment assessment on all securities .
for securities in an unrealized loss position , we determine whether the loss represents otti .
for debt securities that we neither intend to sell nor believe we will be required to sell prior to expected recovery , we recognize the credit portion of otti charges in current earnings and include the noncredit portion of otti in net unrealized gains ( losses ) on otti securities on our consolidated statement of comprehensive income and net of tax in accumulated other comprehensive income ( loss ) on our consolidated balance sheet .
during 2013 and 2012 we recognized otti credit losses of $ 16 million and $ 111 million , respectively .
substantially all of the credit losses related to residential mortgage-backed and asset-backed securities collateralized by non-agency residential loans .
if current housing and economic conditions were to deteriorate from current levels , and if market volatility and illiquidity were to deteriorate from current levels , or if market interest rates were to increase or credit spreads were to widen appreciably , the valuation of our investment securities portfolio could be adversely affected and we could incur additional otti credit losses that would impact our consolidated income statement .
additional information regarding our investment securities is included in note 8 investment securities and note 9 fair value in the notes to consolidated financial statements included in item 8 of this report .
loans held for sale table 15 : loans held for sale in millions december 31 december 31 ._| | in millions | december 312013 | december 312012 |
|---:|:-----------------------------------------------------|:------------------|:------------------|
| 0 | commercial mortgages at fair value | $ 586 | $ 772 |
| 1 | commercial mortgages at lower of cost or fair value | 281 | 620 |
| 2 | total commercial mortgages | 867 | 1392 |
| 3 | residential mortgages at fair value | 1315 | 2096 |
| 4 | residential mortgages at lower of cost or fair value | 41 | 124 |
| 5 | total residential mortgages | 1356 | 2220 |
| 6 | other | 32 | 81 |
| 7 | total | $ 2255 | $ 3693 |_for commercial mortgages held for sale designated at fair value , we stopped originating these and continue to pursue opportunities to reduce these positions .
at december 31 , 2013 , the balance relating to these loans was $ 586 million compared to $ 772 million at december 31 , 2012 .
for commercial mortgages held for sale carried at lower of cost or fair value , we sold $ 2.8 billion in 2013 compared to $ 2.2 billion in 2012 .
all of these loan sales were to government agencies .
total gains of $ 79 million were recognized on the valuation and sale of commercial mortgage loans held for sale , net of hedges , in 2013 , and $ 41 million in 2012 .
residential mortgage loan origination volume was $ 15.1 billion in 2013 compared to $ 15.2 billion in 2012 .
substantially all such loans were originated under agency or federal housing administration ( fha ) standards .
we sold $ 14.7 billion of loans and recognized related gains of $ 568 million in 2013 .
the comparable amounts for 2012 were $ 13.8 billion and $ 747 million , respectively .
interest income on loans held for sale was $ 157 million in 2013 and $ 168 million in 2012 .
these amounts are included in other interest income on our consolidated income statement .
additional information regarding our loan sale and servicing activities is included in note 3 loan sales and servicing activities and variable interest entities and note 9 fair value in our notes to consolidated financial statements included in item 8 of this report .
goodwill and other intangible assets goodwill and other intangible assets totaled $ 11.3 billion at december 31 , 2013 and $ 10.9 billion at december 31 , 2012 .
the increase of $ .4 billion was primarily due to additions to and changes in value of mortgage and other loan servicing rights .
see additional information regarding our goodwill and intangible assets in note 10 goodwill and other intangible assets included in the notes to consolidated financial statements in item 8 of this report .
44 the pnc financial services group , inc .
2013 form 10-k .
| 2,013
| 62
|
PNC
|
PNC Financial Services
|
Financials
|
Diversified Banks
|
Pittsburgh, Pennsylvania
|
1988-04-30
| 713,676
|
1845
| null | null |
finqa10
|
what was the gross margin decline in fiscal 2004 from 2003?
|
.2
|
subtract(27.5, 27.3)
|
net sales of the retail segment grew to $ 1.185 billion during 2004 from $ 621 million and $ 283 million , in 2003 and 2002 , respectively .
the increases in net sales during both 2004 and 2003 reflect the impact of new store openings for each fiscal year , including the opening of 21 new stores in 2004 and 25 new stores in 2003 .
an increase in average revenue per store also contributed to the segment 2019s strong sales in fiscal 2004 .
with an average of 76 stores open during 2004 , the retail segment achieved annualized revenue per store of approximately $ 15.6 million , as compared to $ 11.5 million in 2003 with a 54 store average and $ 10.2 million in 2002 with a 28 store average .
as measured by the company 2019s operating segment reporting , the retail segment reported profit of $ 39 million during fiscal 2004 as compared to losses of $ 5 million and $ 22 million during 2003 and 2002 , respectively .
this improvement is primarily attributable to the segment 2019s year-over-year increase in average quarterly revenue per store , the impact of opening new stores , and the segment 2019s year-over-year increase in net sales , which resulted in higher leverage on occupancy , depreciation and other fixed costs .
expansion of the retail segment has required and will continue to require a substantial investment in fixed assets and related infrastructure , operating lease commitments , personnel , and other operating expenses .
capital expenditures associated with the retail segment were $ 104 million in fiscal 2004 , bringing the total capital expenditures since inception of the retail segment to approximately $ 394 million .
as of september 25 , 2004 , the retail segment had approximately 2100 employees and had outstanding operating lease commitments associated with retail store space and related facilities of approximately $ 436 million .
the company would incur substantial costs should it choose to terminate its retail segment or close individual stores .
such costs could adversely affect the company 2019s results of operations and financial condition .
gross margin gross margin for the three fiscal years ended september 25 , 2004 are as follows ( in millions , except gross margin percentages ) : .
|
gross margin declined in fiscal 2004 to 27.3% ( 27.3 % ) of net sales from 27.5% ( 27.5 % ) of net sales in 2003 .
the company 2019s gross margin during fiscal 2004 declined due to an increase in mix towards lower margin ipod and ibook sales , pricing actions on certain power macintosh g5 models that were transitioned during the beginning of 2004 , higher warranty costs on certain portable macintosh products , and higher freight and duty costs during fiscal 2004 .
these unfavorable factors were partially offset by an increase in direct sales and a 39% ( 39 % ) year-over-year increase in higher margin software sales .
the company anticipates that its gross margin and the gross margin of the overall personal computer and consumer electronics industries will remain under pressure throughout fiscal 2005 in light of price competition , especially for the ipod product line .
the company also expects to continue to incur air freight charges , which negatively impact gross margins on the imac and other products during the first quarter of 2005 and possibly beyond .
the foregoing statements regarding the company 2019s expected gross margin during 2005 , general demand for personal computers , anticipated air freight charges , and future economic conditions are forward- looking .
there can be no assurance that current gross margins will be maintained or targeted gross margin levels will be achieved .
in general , gross margins and margins on individual products , including ipods , will remain under significant downward pressure due to a variety of factors , including continued industry wide .
|
| | | 2004 | 2003 | 2002 |
|---:|:------------------------|:-----------------|:-----------------|:-----------------|
| 0 | net sales | $ 8279 | $ 6207 | $ 5742 |
| 1 | cost of sales | 6020 | 4499 | 4139 |
| 2 | gross margin | $ 2259 | $ 1708 | $ 1603 |
| 3 | gross margin percentage | 27.3% ( 27.3 % ) | 27.5% ( 27.5 % ) | 27.9% ( 27.9 % ) |
|
net sales of the retail segment grew to $ 1.185 billion during 2004 from $ 621 million and $ 283 million , in 2003 and 2002 , respectively .
the increases in net sales during both 2004 and 2003 reflect the impact of new store openings for each fiscal year , including the opening of 21 new stores in 2004 and 25 new stores in 2003 .
an increase in average revenue per store also contributed to the segment 2019s strong sales in fiscal 2004 .
with an average of 76 stores open during 2004 , the retail segment achieved annualized revenue per store of approximately $ 15.6 million , as compared to $ 11.5 million in 2003 with a 54 store average and $ 10.2 million in 2002 with a 28 store average .
as measured by the company 2019s operating segment reporting , the retail segment reported profit of $ 39 million during fiscal 2004 as compared to losses of $ 5 million and $ 22 million during 2003 and 2002 , respectively .
this improvement is primarily attributable to the segment 2019s year-over-year increase in average quarterly revenue per store , the impact of opening new stores , and the segment 2019s year-over-year increase in net sales , which resulted in higher leverage on occupancy , depreciation and other fixed costs .
expansion of the retail segment has required and will continue to require a substantial investment in fixed assets and related infrastructure , operating lease commitments , personnel , and other operating expenses .
capital expenditures associated with the retail segment were $ 104 million in fiscal 2004 , bringing the total capital expenditures since inception of the retail segment to approximately $ 394 million .
as of september 25 , 2004 , the retail segment had approximately 2100 employees and had outstanding operating lease commitments associated with retail store space and related facilities of approximately $ 436 million .
the company would incur substantial costs should it choose to terminate its retail segment or close individual stores .
such costs could adversely affect the company 2019s results of operations and financial condition .
gross margin gross margin for the three fiscal years ended september 25 , 2004 are as follows ( in millions , except gross margin percentages ) : ._| | | 2004 | 2003 | 2002 |
|---:|:------------------------|:-----------------|:-----------------|:-----------------|
| 0 | net sales | $ 8279 | $ 6207 | $ 5742 |
| 1 | cost of sales | 6020 | 4499 | 4139 |
| 2 | gross margin | $ 2259 | $ 1708 | $ 1603 |
| 3 | gross margin percentage | 27.3% ( 27.3 % ) | 27.5% ( 27.5 % ) | 27.9% ( 27.9 % ) |_gross margin declined in fiscal 2004 to 27.3% ( 27.3 % ) of net sales from 27.5% ( 27.5 % ) of net sales in 2003 .
the company 2019s gross margin during fiscal 2004 declined due to an increase in mix towards lower margin ipod and ibook sales , pricing actions on certain power macintosh g5 models that were transitioned during the beginning of 2004 , higher warranty costs on certain portable macintosh products , and higher freight and duty costs during fiscal 2004 .
these unfavorable factors were partially offset by an increase in direct sales and a 39% ( 39 % ) year-over-year increase in higher margin software sales .
the company anticipates that its gross margin and the gross margin of the overall personal computer and consumer electronics industries will remain under pressure throughout fiscal 2005 in light of price competition , especially for the ipod product line .
the company also expects to continue to incur air freight charges , which negatively impact gross margins on the imac and other products during the first quarter of 2005 and possibly beyond .
the foregoing statements regarding the company 2019s expected gross margin during 2005 , general demand for personal computers , anticipated air freight charges , and future economic conditions are forward- looking .
there can be no assurance that current gross margins will be maintained or targeted gross margin levels will be achieved .
in general , gross margins and margins on individual products , including ipods , will remain under significant downward pressure due to a variety of factors , including continued industry wide .
| 2,004
| 36
|
AAPL
|
Apple Inc.
|
Information Technology
|
Technology Hardware, Storage & Peripherals
|
Cupertino, California
|
1982-11-30
| 320,193
|
1977
|
what was the gross margin decline in fiscal 2004 from 2003?
|
.2
|
subtract(27.5, 27.3)
|
net sales of the retail segment grew to $ 1.185 billion during 2004 from $ 621 million and $ 283 million , in 2003 and 2002 , respectively .
the increases in net sales during both 2004 and 2003 reflect the impact of new store openings for each fiscal year , including the opening of 21 new stores in 2004 and 25 new stores in 2003 .
an increase in average revenue per store also contributed to the segment 2019s strong sales in fiscal 2004 .
with an average of 76 stores open during 2004 , the retail segment achieved annualized revenue per store of approximately $ 15.6 million , as compared to $ 11.5 million in 2003 with a 54 store average and $ 10.2 million in 2002 with a 28 store average .
as measured by the company 2019s operating segment reporting , the retail segment reported profit of $ 39 million during fiscal 2004 as compared to losses of $ 5 million and $ 22 million during 2003 and 2002 , respectively .
this improvement is primarily attributable to the segment 2019s year-over-year increase in average quarterly revenue per store , the impact of opening new stores , and the segment 2019s year-over-year increase in net sales , which resulted in higher leverage on occupancy , depreciation and other fixed costs .
expansion of the retail segment has required and will continue to require a substantial investment in fixed assets and related infrastructure , operating lease commitments , personnel , and other operating expenses .
capital expenditures associated with the retail segment were $ 104 million in fiscal 2004 , bringing the total capital expenditures since inception of the retail segment to approximately $ 394 million .
as of september 25 , 2004 , the retail segment had approximately 2100 employees and had outstanding operating lease commitments associated with retail store space and related facilities of approximately $ 436 million .
the company would incur substantial costs should it choose to terminate its retail segment or close individual stores .
such costs could adversely affect the company 2019s results of operations and financial condition .
gross margin gross margin for the three fiscal years ended september 25 , 2004 are as follows ( in millions , except gross margin percentages ) : .
|
gross margin declined in fiscal 2004 to 27.3% ( 27.3 % ) of net sales from 27.5% ( 27.5 % ) of net sales in 2003 .
the company 2019s gross margin during fiscal 2004 declined due to an increase in mix towards lower margin ipod and ibook sales , pricing actions on certain power macintosh g5 models that were transitioned during the beginning of 2004 , higher warranty costs on certain portable macintosh products , and higher freight and duty costs during fiscal 2004 .
these unfavorable factors were partially offset by an increase in direct sales and a 39% ( 39 % ) year-over-year increase in higher margin software sales .
the company anticipates that its gross margin and the gross margin of the overall personal computer and consumer electronics industries will remain under pressure throughout fiscal 2005 in light of price competition , especially for the ipod product line .
the company also expects to continue to incur air freight charges , which negatively impact gross margins on the imac and other products during the first quarter of 2005 and possibly beyond .
the foregoing statements regarding the company 2019s expected gross margin during 2005 , general demand for personal computers , anticipated air freight charges , and future economic conditions are forward- looking .
there can be no assurance that current gross margins will be maintained or targeted gross margin levels will be achieved .
in general , gross margins and margins on individual products , including ipods , will remain under significant downward pressure due to a variety of factors , including continued industry wide .
|
| | | 2004 | 2003 | 2002 |
|---:|:------------------------|:-----------------|:-----------------|:-----------------|
| 0 | net sales | $ 8279 | $ 6207 | $ 5742 |
| 1 | cost of sales | 6020 | 4499 | 4139 |
| 2 | gross margin | $ 2259 | $ 1708 | $ 1603 |
| 3 | gross margin percentage | 27.3% ( 27.3 % ) | 27.5% ( 27.5 % ) | 27.9% ( 27.9 % ) |
|
net sales of the retail segment grew to $ 1.185 billion during 2004 from $ 621 million and $ 283 million , in 2003 and 2002 , respectively .
the increases in net sales during both 2004 and 2003 reflect the impact of new store openings for each fiscal year , including the opening of 21 new stores in 2004 and 25 new stores in 2003 .
an increase in average revenue per store also contributed to the segment 2019s strong sales in fiscal 2004 .
with an average of 76 stores open during 2004 , the retail segment achieved annualized revenue per store of approximately $ 15.6 million , as compared to $ 11.5 million in 2003 with a 54 store average and $ 10.2 million in 2002 with a 28 store average .
as measured by the company 2019s operating segment reporting , the retail segment reported profit of $ 39 million during fiscal 2004 as compared to losses of $ 5 million and $ 22 million during 2003 and 2002 , respectively .
this improvement is primarily attributable to the segment 2019s year-over-year increase in average quarterly revenue per store , the impact of opening new stores , and the segment 2019s year-over-year increase in net sales , which resulted in higher leverage on occupancy , depreciation and other fixed costs .
expansion of the retail segment has required and will continue to require a substantial investment in fixed assets and related infrastructure , operating lease commitments , personnel , and other operating expenses .
capital expenditures associated with the retail segment were $ 104 million in fiscal 2004 , bringing the total capital expenditures since inception of the retail segment to approximately $ 394 million .
as of september 25 , 2004 , the retail segment had approximately 2100 employees and had outstanding operating lease commitments associated with retail store space and related facilities of approximately $ 436 million .
the company would incur substantial costs should it choose to terminate its retail segment or close individual stores .
such costs could adversely affect the company 2019s results of operations and financial condition .
gross margin gross margin for the three fiscal years ended september 25 , 2004 are as follows ( in millions , except gross margin percentages ) : ._| | | 2004 | 2003 | 2002 |
|---:|:------------------------|:-----------------|:-----------------|:-----------------|
| 0 | net sales | $ 8279 | $ 6207 | $ 5742 |
| 1 | cost of sales | 6020 | 4499 | 4139 |
| 2 | gross margin | $ 2259 | $ 1708 | $ 1603 |
| 3 | gross margin percentage | 27.3% ( 27.3 % ) | 27.5% ( 27.5 % ) | 27.9% ( 27.9 % ) |_gross margin declined in fiscal 2004 to 27.3% ( 27.3 % ) of net sales from 27.5% ( 27.5 % ) of net sales in 2003 .
the company 2019s gross margin during fiscal 2004 declined due to an increase in mix towards lower margin ipod and ibook sales , pricing actions on certain power macintosh g5 models that were transitioned during the beginning of 2004 , higher warranty costs on certain portable macintosh products , and higher freight and duty costs during fiscal 2004 .
these unfavorable factors were partially offset by an increase in direct sales and a 39% ( 39 % ) year-over-year increase in higher margin software sales .
the company anticipates that its gross margin and the gross margin of the overall personal computer and consumer electronics industries will remain under pressure throughout fiscal 2005 in light of price competition , especially for the ipod product line .
the company also expects to continue to incur air freight charges , which negatively impact gross margins on the imac and other products during the first quarter of 2005 and possibly beyond .
the foregoing statements regarding the company 2019s expected gross margin during 2005 , general demand for personal computers , anticipated air freight charges , and future economic conditions are forward- looking .
there can be no assurance that current gross margins will be maintained or targeted gross margin levels will be achieved .
in general , gross margins and margins on individual products , including ipods , will remain under significant downward pressure due to a variety of factors , including continued industry wide .
| 2,004
| 36
|
AAPL
|
Apple Inc.
|
Information Technology
|
Technology Hardware, Storage & Peripherals
|
Cupertino, California
|
1982-11-30
| 320,193
|
1977
| null | null |
finqa11
|
what percentage of total purchase commitments are due after 2014?
|
56%
|
divide(25048, 44572)
|
purchase commitments the company has entered into various purchase agreements for minimum amounts of pulpwood processing and energy over periods ranging from one to twenty years at fixed prices .
total purchase commitments are as follows: .
|
these purchase agreements are not marked to market .
the company purchased $ 37.3 million , $ 29.4 million , and $ 14.5 million during the years ended december 31 , 2009 , 2008 and 2007 , respectively , under these purchase agreements .
litigation pca is a party to various legal actions arising in the ordinary course of business .
these legal actions cover a broad variety of claims spanning our entire business .
as of the date of this filing , the company believes it is not reasonably possible that the resolution of these legal actions will , individually or in the aggregate , have a material adverse effect on its financial position , results of operations , or cash flows .
environmental liabilities the potential costs for various environmental matters are uncertain due to such factors as the unknown magnitude of possible cleanup costs , the complexity and evolving nature of governmental laws and regulations and their interpretations , and the timing , varying costs and effectiveness of alternative cleanup technologies .
from 1994 through 2009 , remediation costs at the company 2019s mills and corrugated plants totaled approximately $ 3.2 million .
as of december 31 , 2009 , the company maintained an environmental reserve of $ 9.1 million relating to on-site landfills ( see note 13 ) and surface impoundments as well as ongoing and anticipated remedial projects .
liabilities recorded for environmental contingencies are estimates of the probable costs based upon available information and assumptions .
because of these uncertainties , pca 2019s estimates may change .
as of the date of this filing , the company believes that it is not reasonably possible that future environmental expenditures and asset retirement obligations above the $ 9.1 million accrued as of december 31 , 2009 , will have a material impact on its financial condition , results of operations , or cash flows .
in connection with the sale to pca of its containerboard and corrugated products business , pactiv agreed to retain all liability for all former facilities and all sites associated with pre-closing off-site waste disposal and all environmental liabilities related to a closed landfill located near the company 2019s filer city mill .
13 .
asset retirement obligations asset retirement obligations consist primarily of landfill capping and closure and post-closure costs .
pca is legally required to perform capping and closure and post-closure care on the landfills at each of the company 2019s mills .
in accordance with asc 410 , 201c asset retirement and environmental obligations , 201d pca recognizes the fair value of these liabilities as an asset retirement obligation for each landfill and capitalizes packaging corporation of america notes to consolidated financial statements ( continued ) december 31 , 2009 .
|
| | | ( in thousands ) |
|---:|:-----------|:-------------------|
| 0 | 2010 | $ 6951 |
| 1 | 2011 | 5942 |
| 2 | 2012 | 3659 |
| 3 | 2013 | 1486 |
| 4 | 2014 | 1486 |
| 5 | thereafter | 25048 |
| 6 | total | $ 44572 |
|
purchase commitments the company has entered into various purchase agreements for minimum amounts of pulpwood processing and energy over periods ranging from one to twenty years at fixed prices .
total purchase commitments are as follows: ._| | | ( in thousands ) |
|---:|:-----------|:-------------------|
| 0 | 2010 | $ 6951 |
| 1 | 2011 | 5942 |
| 2 | 2012 | 3659 |
| 3 | 2013 | 1486 |
| 4 | 2014 | 1486 |
| 5 | thereafter | 25048 |
| 6 | total | $ 44572 |_these purchase agreements are not marked to market .
the company purchased $ 37.3 million , $ 29.4 million , and $ 14.5 million during the years ended december 31 , 2009 , 2008 and 2007 , respectively , under these purchase agreements .
litigation pca is a party to various legal actions arising in the ordinary course of business .
these legal actions cover a broad variety of claims spanning our entire business .
as of the date of this filing , the company believes it is not reasonably possible that the resolution of these legal actions will , individually or in the aggregate , have a material adverse effect on its financial position , results of operations , or cash flows .
environmental liabilities the potential costs for various environmental matters are uncertain due to such factors as the unknown magnitude of possible cleanup costs , the complexity and evolving nature of governmental laws and regulations and their interpretations , and the timing , varying costs and effectiveness of alternative cleanup technologies .
from 1994 through 2009 , remediation costs at the company 2019s mills and corrugated plants totaled approximately $ 3.2 million .
as of december 31 , 2009 , the company maintained an environmental reserve of $ 9.1 million relating to on-site landfills ( see note 13 ) and surface impoundments as well as ongoing and anticipated remedial projects .
liabilities recorded for environmental contingencies are estimates of the probable costs based upon available information and assumptions .
because of these uncertainties , pca 2019s estimates may change .
as of the date of this filing , the company believes that it is not reasonably possible that future environmental expenditures and asset retirement obligations above the $ 9.1 million accrued as of december 31 , 2009 , will have a material impact on its financial condition , results of operations , or cash flows .
in connection with the sale to pca of its containerboard and corrugated products business , pactiv agreed to retain all liability for all former facilities and all sites associated with pre-closing off-site waste disposal and all environmental liabilities related to a closed landfill located near the company 2019s filer city mill .
13 .
asset retirement obligations asset retirement obligations consist primarily of landfill capping and closure and post-closure costs .
pca is legally required to perform capping and closure and post-closure care on the landfills at each of the company 2019s mills .
in accordance with asc 410 , 201c asset retirement and environmental obligations , 201d pca recognizes the fair value of these liabilities as an asset retirement obligation for each landfill and capitalizes packaging corporation of america notes to consolidated financial statements ( continued ) december 31 , 2009 .
| 2,009
| 65
|
PKG
|
Packaging Corporation of America
|
Materials
|
Paper & Plastic Packaging Products & Materials
|
Lake Forest, Illinois
|
2017-07-26
| 75,677
|
1959
|
what percentage of total purchase commitments are due after 2014?
|
56%
|
divide(25048, 44572)
|
purchase commitments the company has entered into various purchase agreements for minimum amounts of pulpwood processing and energy over periods ranging from one to twenty years at fixed prices .
total purchase commitments are as follows: .
|
these purchase agreements are not marked to market .
the company purchased $ 37.3 million , $ 29.4 million , and $ 14.5 million during the years ended december 31 , 2009 , 2008 and 2007 , respectively , under these purchase agreements .
litigation pca is a party to various legal actions arising in the ordinary course of business .
these legal actions cover a broad variety of claims spanning our entire business .
as of the date of this filing , the company believes it is not reasonably possible that the resolution of these legal actions will , individually or in the aggregate , have a material adverse effect on its financial position , results of operations , or cash flows .
environmental liabilities the potential costs for various environmental matters are uncertain due to such factors as the unknown magnitude of possible cleanup costs , the complexity and evolving nature of governmental laws and regulations and their interpretations , and the timing , varying costs and effectiveness of alternative cleanup technologies .
from 1994 through 2009 , remediation costs at the company 2019s mills and corrugated plants totaled approximately $ 3.2 million .
as of december 31 , 2009 , the company maintained an environmental reserve of $ 9.1 million relating to on-site landfills ( see note 13 ) and surface impoundments as well as ongoing and anticipated remedial projects .
liabilities recorded for environmental contingencies are estimates of the probable costs based upon available information and assumptions .
because of these uncertainties , pca 2019s estimates may change .
as of the date of this filing , the company believes that it is not reasonably possible that future environmental expenditures and asset retirement obligations above the $ 9.1 million accrued as of december 31 , 2009 , will have a material impact on its financial condition , results of operations , or cash flows .
in connection with the sale to pca of its containerboard and corrugated products business , pactiv agreed to retain all liability for all former facilities and all sites associated with pre-closing off-site waste disposal and all environmental liabilities related to a closed landfill located near the company 2019s filer city mill .
13 .
asset retirement obligations asset retirement obligations consist primarily of landfill capping and closure and post-closure costs .
pca is legally required to perform capping and closure and post-closure care on the landfills at each of the company 2019s mills .
in accordance with asc 410 , 201c asset retirement and environmental obligations , 201d pca recognizes the fair value of these liabilities as an asset retirement obligation for each landfill and capitalizes packaging corporation of america notes to consolidated financial statements ( continued ) december 31 , 2009 .
|
| | | ( in thousands ) |
|---:|:-----------|:-------------------|
| 0 | 2010 | $ 6951 |
| 1 | 2011 | 5942 |
| 2 | 2012 | 3659 |
| 3 | 2013 | 1486 |
| 4 | 2014 | 1486 |
| 5 | thereafter | 25048 |
| 6 | total | $ 44572 |
|
purchase commitments the company has entered into various purchase agreements for minimum amounts of pulpwood processing and energy over periods ranging from one to twenty years at fixed prices .
total purchase commitments are as follows: ._| | | ( in thousands ) |
|---:|:-----------|:-------------------|
| 0 | 2010 | $ 6951 |
| 1 | 2011 | 5942 |
| 2 | 2012 | 3659 |
| 3 | 2013 | 1486 |
| 4 | 2014 | 1486 |
| 5 | thereafter | 25048 |
| 6 | total | $ 44572 |_these purchase agreements are not marked to market .
the company purchased $ 37.3 million , $ 29.4 million , and $ 14.5 million during the years ended december 31 , 2009 , 2008 and 2007 , respectively , under these purchase agreements .
litigation pca is a party to various legal actions arising in the ordinary course of business .
these legal actions cover a broad variety of claims spanning our entire business .
as of the date of this filing , the company believes it is not reasonably possible that the resolution of these legal actions will , individually or in the aggregate , have a material adverse effect on its financial position , results of operations , or cash flows .
environmental liabilities the potential costs for various environmental matters are uncertain due to such factors as the unknown magnitude of possible cleanup costs , the complexity and evolving nature of governmental laws and regulations and their interpretations , and the timing , varying costs and effectiveness of alternative cleanup technologies .
from 1994 through 2009 , remediation costs at the company 2019s mills and corrugated plants totaled approximately $ 3.2 million .
as of december 31 , 2009 , the company maintained an environmental reserve of $ 9.1 million relating to on-site landfills ( see note 13 ) and surface impoundments as well as ongoing and anticipated remedial projects .
liabilities recorded for environmental contingencies are estimates of the probable costs based upon available information and assumptions .
because of these uncertainties , pca 2019s estimates may change .
as of the date of this filing , the company believes that it is not reasonably possible that future environmental expenditures and asset retirement obligations above the $ 9.1 million accrued as of december 31 , 2009 , will have a material impact on its financial condition , results of operations , or cash flows .
in connection with the sale to pca of its containerboard and corrugated products business , pactiv agreed to retain all liability for all former facilities and all sites associated with pre-closing off-site waste disposal and all environmental liabilities related to a closed landfill located near the company 2019s filer city mill .
13 .
asset retirement obligations asset retirement obligations consist primarily of landfill capping and closure and post-closure costs .
pca is legally required to perform capping and closure and post-closure care on the landfills at each of the company 2019s mills .
in accordance with asc 410 , 201c asset retirement and environmental obligations , 201d pca recognizes the fair value of these liabilities as an asset retirement obligation for each landfill and capitalizes packaging corporation of america notes to consolidated financial statements ( continued ) december 31 , 2009 .
| 2,009
| 65
|
PKG
|
Packaging Corporation of America
|
Materials
|
Paper & Plastic Packaging Products & Materials
|
Lake Forest, Illinois
|
2017-07-26
| 75,677
|
1959
| null | null |
finqa12
|
what was the change in the weighted average common shares outstanding for diluted computations from 2012 to 2013 , in millions?
|
-1.9
|
subtract(326.5, 328.4)
|
note 2 2013 restructuring charges 2013 actions during 2013 , we recorded charges related to certain severance actions totaling $ 201 million , net of state tax benefits , of which $ 83 million , $ 37 million , and $ 81 million related to our information systems & global solutions ( is&gs ) , mission systems and training ( mst ) , and space systems business segments .
these charges reduced our net earnings by $ 130 million ( $ .40 per share ) and primarily related to a plan we committed to in november 2013 to close and consolidate certain facilities and reduce our total workforce by approximately 4000 positions within our is&gs , mst , and space systems business segments .
these charges also include $ 30 million related to certain severance actions at our is&gs business segment that occurred in the first quarter of 2013 , which were subsequently paid in 2013 .
the november 2013 plan resulted from a strategic review of these businesses 2019 facility capacity and future workload projections and is intended to better align our organization and cost structure and improve the affordability of our products and services given the continued decline in u.s .
government spending as well as the rapidly changing competitive and economic landscape .
upon separation , terminated employees will receive lump-sum severance payments primarily based on years of service .
during 2013 , we paid approximately $ 15 million in severance payments associated with these actions , with the remainder expected to be paid through the middle of 2015 .
in addition to the severance charges described above , we expect to incur accelerated and incremental costs ( e.g. , accelerated depreciation expense related to long-lived assets at the sites to be closed , relocation of equipment and other employee related costs ) of approximately $ 15 million , $ 50 million , and $ 135 million at our is&gs , mst , and space systems business segments related to the facility closures and consolidations .
the accelerated and incremental costs will be expensed as incurred in the respective business segment 2019s results of operations through their completion in 2015 .
we expect to recover a substantial amount of the restructuring charges through the pricing of our products and services to the u.s .
government and other customers in future periods , with the impact included in the respective business segment 2019s results of operations .
2012 and 2011 actions during 2012 , we recorded charges related to certain severance actions totaling $ 48 million , net of state tax benefits , of which $ 25 million related to our aeronautics business segment and $ 23 million related to the reorganization of our former electronic systems business segment .
these charges reduced our net earnings by $ 31 million ( $ .09 per share ) and consisted of severance costs associated with the elimination of certain positions through either voluntary or involuntary actions .
these severance actions resulted from cost reduction initiatives to better align our organization with changing economic conditions .
upon separation , terminated employees received lump-sum severance payments primarily based on years of service , all of which were paid in 2013 .
during 2011 , we recorded charges related to certain severance actions totaling $ 136 million , net of state tax benefits , of which $ 49 million , $ 48 million , and $ 39 million related to our aeronautics , space systems , and our is&gs business segments and corporate headquarters .
these charges reduced our net earnings by $ 88 million ( $ .26 per share ) and consisted of severance costs associated with the elimination of certain positions through either voluntary or involuntary actions .
these severance actions resulted from a strategic review of these businesses and our corporate headquarters and are intended to better align our organization and cost structure with changing economic conditions .
the workforce reductions at the business segments also reflected changes in program lifecycles , where several of our major programs were either transitioning out of development and into production or were ending .
upon separation , terminated employees received lump-sum severance payments based on years of service .
during 2011 , we made approximately half of the severance payments associated with these 2011 severance actions , and paid the remaining amounts in 2012 .
note 3 2013 earnings per share the weighted average number of shares outstanding used to compute earnings per common share were as follows ( in millions ) : .
|
.
|
| | | 2013 | 2012 | 2011 |
|---:|:--------------------------------------------------------------------|-------:|-------:|-------:|
| 0 | weighted average common shares outstanding for basic computations | 320.9 | 323.7 | 335.9 |
| 1 | weighted average dilutive effect of equity awards | 5.6 | 4.7 | 4 |
| 2 | weighted average common shares outstanding for diluted computations | 326.5 | 328.4 | 339.9 |
|
note 2 2013 restructuring charges 2013 actions during 2013 , we recorded charges related to certain severance actions totaling $ 201 million , net of state tax benefits , of which $ 83 million , $ 37 million , and $ 81 million related to our information systems & global solutions ( is&gs ) , mission systems and training ( mst ) , and space systems business segments .
these charges reduced our net earnings by $ 130 million ( $ .40 per share ) and primarily related to a plan we committed to in november 2013 to close and consolidate certain facilities and reduce our total workforce by approximately 4000 positions within our is&gs , mst , and space systems business segments .
these charges also include $ 30 million related to certain severance actions at our is&gs business segment that occurred in the first quarter of 2013 , which were subsequently paid in 2013 .
the november 2013 plan resulted from a strategic review of these businesses 2019 facility capacity and future workload projections and is intended to better align our organization and cost structure and improve the affordability of our products and services given the continued decline in u.s .
government spending as well as the rapidly changing competitive and economic landscape .
upon separation , terminated employees will receive lump-sum severance payments primarily based on years of service .
during 2013 , we paid approximately $ 15 million in severance payments associated with these actions , with the remainder expected to be paid through the middle of 2015 .
in addition to the severance charges described above , we expect to incur accelerated and incremental costs ( e.g. , accelerated depreciation expense related to long-lived assets at the sites to be closed , relocation of equipment and other employee related costs ) of approximately $ 15 million , $ 50 million , and $ 135 million at our is&gs , mst , and space systems business segments related to the facility closures and consolidations .
the accelerated and incremental costs will be expensed as incurred in the respective business segment 2019s results of operations through their completion in 2015 .
we expect to recover a substantial amount of the restructuring charges through the pricing of our products and services to the u.s .
government and other customers in future periods , with the impact included in the respective business segment 2019s results of operations .
2012 and 2011 actions during 2012 , we recorded charges related to certain severance actions totaling $ 48 million , net of state tax benefits , of which $ 25 million related to our aeronautics business segment and $ 23 million related to the reorganization of our former electronic systems business segment .
these charges reduced our net earnings by $ 31 million ( $ .09 per share ) and consisted of severance costs associated with the elimination of certain positions through either voluntary or involuntary actions .
these severance actions resulted from cost reduction initiatives to better align our organization with changing economic conditions .
upon separation , terminated employees received lump-sum severance payments primarily based on years of service , all of which were paid in 2013 .
during 2011 , we recorded charges related to certain severance actions totaling $ 136 million , net of state tax benefits , of which $ 49 million , $ 48 million , and $ 39 million related to our aeronautics , space systems , and our is&gs business segments and corporate headquarters .
these charges reduced our net earnings by $ 88 million ( $ .26 per share ) and consisted of severance costs associated with the elimination of certain positions through either voluntary or involuntary actions .
these severance actions resulted from a strategic review of these businesses and our corporate headquarters and are intended to better align our organization and cost structure with changing economic conditions .
the workforce reductions at the business segments also reflected changes in program lifecycles , where several of our major programs were either transitioning out of development and into production or were ending .
upon separation , terminated employees received lump-sum severance payments based on years of service .
during 2011 , we made approximately half of the severance payments associated with these 2011 severance actions , and paid the remaining amounts in 2012 .
note 3 2013 earnings per share the weighted average number of shares outstanding used to compute earnings per common share were as follows ( in millions ) : ._| | | 2013 | 2012 | 2011 |
|---:|:--------------------------------------------------------------------|-------:|-------:|-------:|
| 0 | weighted average common shares outstanding for basic computations | 320.9 | 323.7 | 335.9 |
| 1 | weighted average dilutive effect of equity awards | 5.6 | 4.7 | 4 |
| 2 | weighted average common shares outstanding for diluted computations | 326.5 | 328.4 | 339.9 |_.
| 2,013
| 74
|
LMT
|
Lockheed Martin
|
Industrials
|
Aerospace & Defense
|
Bethesda, Maryland
|
1957-03-04
| 936,468
|
1995
|
what was the change in the weighted average common shares outstanding for diluted computations from 2012 to 2013 , in millions?
|
-1.9
|
subtract(326.5, 328.4)
|
note 2 2013 restructuring charges 2013 actions during 2013 , we recorded charges related to certain severance actions totaling $ 201 million , net of state tax benefits , of which $ 83 million , $ 37 million , and $ 81 million related to our information systems & global solutions ( is&gs ) , mission systems and training ( mst ) , and space systems business segments .
these charges reduced our net earnings by $ 130 million ( $ .40 per share ) and primarily related to a plan we committed to in november 2013 to close and consolidate certain facilities and reduce our total workforce by approximately 4000 positions within our is&gs , mst , and space systems business segments .
these charges also include $ 30 million related to certain severance actions at our is&gs business segment that occurred in the first quarter of 2013 , which were subsequently paid in 2013 .
the november 2013 plan resulted from a strategic review of these businesses 2019 facility capacity and future workload projections and is intended to better align our organization and cost structure and improve the affordability of our products and services given the continued decline in u.s .
government spending as well as the rapidly changing competitive and economic landscape .
upon separation , terminated employees will receive lump-sum severance payments primarily based on years of service .
during 2013 , we paid approximately $ 15 million in severance payments associated with these actions , with the remainder expected to be paid through the middle of 2015 .
in addition to the severance charges described above , we expect to incur accelerated and incremental costs ( e.g. , accelerated depreciation expense related to long-lived assets at the sites to be closed , relocation of equipment and other employee related costs ) of approximately $ 15 million , $ 50 million , and $ 135 million at our is&gs , mst , and space systems business segments related to the facility closures and consolidations .
the accelerated and incremental costs will be expensed as incurred in the respective business segment 2019s results of operations through their completion in 2015 .
we expect to recover a substantial amount of the restructuring charges through the pricing of our products and services to the u.s .
government and other customers in future periods , with the impact included in the respective business segment 2019s results of operations .
2012 and 2011 actions during 2012 , we recorded charges related to certain severance actions totaling $ 48 million , net of state tax benefits , of which $ 25 million related to our aeronautics business segment and $ 23 million related to the reorganization of our former electronic systems business segment .
these charges reduced our net earnings by $ 31 million ( $ .09 per share ) and consisted of severance costs associated with the elimination of certain positions through either voluntary or involuntary actions .
these severance actions resulted from cost reduction initiatives to better align our organization with changing economic conditions .
upon separation , terminated employees received lump-sum severance payments primarily based on years of service , all of which were paid in 2013 .
during 2011 , we recorded charges related to certain severance actions totaling $ 136 million , net of state tax benefits , of which $ 49 million , $ 48 million , and $ 39 million related to our aeronautics , space systems , and our is&gs business segments and corporate headquarters .
these charges reduced our net earnings by $ 88 million ( $ .26 per share ) and consisted of severance costs associated with the elimination of certain positions through either voluntary or involuntary actions .
these severance actions resulted from a strategic review of these businesses and our corporate headquarters and are intended to better align our organization and cost structure with changing economic conditions .
the workforce reductions at the business segments also reflected changes in program lifecycles , where several of our major programs were either transitioning out of development and into production or were ending .
upon separation , terminated employees received lump-sum severance payments based on years of service .
during 2011 , we made approximately half of the severance payments associated with these 2011 severance actions , and paid the remaining amounts in 2012 .
note 3 2013 earnings per share the weighted average number of shares outstanding used to compute earnings per common share were as follows ( in millions ) : .
|
.
|
| | | 2013 | 2012 | 2011 |
|---:|:--------------------------------------------------------------------|-------:|-------:|-------:|
| 0 | weighted average common shares outstanding for basic computations | 320.9 | 323.7 | 335.9 |
| 1 | weighted average dilutive effect of equity awards | 5.6 | 4.7 | 4 |
| 2 | weighted average common shares outstanding for diluted computations | 326.5 | 328.4 | 339.9 |
|
note 2 2013 restructuring charges 2013 actions during 2013 , we recorded charges related to certain severance actions totaling $ 201 million , net of state tax benefits , of which $ 83 million , $ 37 million , and $ 81 million related to our information systems & global solutions ( is&gs ) , mission systems and training ( mst ) , and space systems business segments .
these charges reduced our net earnings by $ 130 million ( $ .40 per share ) and primarily related to a plan we committed to in november 2013 to close and consolidate certain facilities and reduce our total workforce by approximately 4000 positions within our is&gs , mst , and space systems business segments .
these charges also include $ 30 million related to certain severance actions at our is&gs business segment that occurred in the first quarter of 2013 , which were subsequently paid in 2013 .
the november 2013 plan resulted from a strategic review of these businesses 2019 facility capacity and future workload projections and is intended to better align our organization and cost structure and improve the affordability of our products and services given the continued decline in u.s .
government spending as well as the rapidly changing competitive and economic landscape .
upon separation , terminated employees will receive lump-sum severance payments primarily based on years of service .
during 2013 , we paid approximately $ 15 million in severance payments associated with these actions , with the remainder expected to be paid through the middle of 2015 .
in addition to the severance charges described above , we expect to incur accelerated and incremental costs ( e.g. , accelerated depreciation expense related to long-lived assets at the sites to be closed , relocation of equipment and other employee related costs ) of approximately $ 15 million , $ 50 million , and $ 135 million at our is&gs , mst , and space systems business segments related to the facility closures and consolidations .
the accelerated and incremental costs will be expensed as incurred in the respective business segment 2019s results of operations through their completion in 2015 .
we expect to recover a substantial amount of the restructuring charges through the pricing of our products and services to the u.s .
government and other customers in future periods , with the impact included in the respective business segment 2019s results of operations .
2012 and 2011 actions during 2012 , we recorded charges related to certain severance actions totaling $ 48 million , net of state tax benefits , of which $ 25 million related to our aeronautics business segment and $ 23 million related to the reorganization of our former electronic systems business segment .
these charges reduced our net earnings by $ 31 million ( $ .09 per share ) and consisted of severance costs associated with the elimination of certain positions through either voluntary or involuntary actions .
these severance actions resulted from cost reduction initiatives to better align our organization with changing economic conditions .
upon separation , terminated employees received lump-sum severance payments primarily based on years of service , all of which were paid in 2013 .
during 2011 , we recorded charges related to certain severance actions totaling $ 136 million , net of state tax benefits , of which $ 49 million , $ 48 million , and $ 39 million related to our aeronautics , space systems , and our is&gs business segments and corporate headquarters .
these charges reduced our net earnings by $ 88 million ( $ .26 per share ) and consisted of severance costs associated with the elimination of certain positions through either voluntary or involuntary actions .
these severance actions resulted from a strategic review of these businesses and our corporate headquarters and are intended to better align our organization and cost structure with changing economic conditions .
the workforce reductions at the business segments also reflected changes in program lifecycles , where several of our major programs were either transitioning out of development and into production or were ending .
upon separation , terminated employees received lump-sum severance payments based on years of service .
during 2011 , we made approximately half of the severance payments associated with these 2011 severance actions , and paid the remaining amounts in 2012 .
note 3 2013 earnings per share the weighted average number of shares outstanding used to compute earnings per common share were as follows ( in millions ) : ._| | | 2013 | 2012 | 2011 |
|---:|:--------------------------------------------------------------------|-------:|-------:|-------:|
| 0 | weighted average common shares outstanding for basic computations | 320.9 | 323.7 | 335.9 |
| 1 | weighted average dilutive effect of equity awards | 5.6 | 4.7 | 4 |
| 2 | weighted average common shares outstanding for diluted computations | 326.5 | 328.4 | 339.9 |_.
| 2,013
| 74
|
LMT
|
Lockheed Martin
|
Industrials
|
Aerospace & Defense
|
Bethesda, Maryland
|
1957-03-04
| 936,468
|
1995
| null | null |
finqa13
|
in 2011 what was the amount of tax related to the unrealized losses reclassifications totaled $ 303 million , or $ 189 million after-tax,
|
114
|
subtract(303, 189)
|
impairment the following table presents net unrealized losses on securities available for sale as of december 31: .
|
the net unrealized amounts presented above excluded the remaining net unrealized losses related to reclassifications of securities available for sale to securities held to maturity .
these unrealized losses related to reclassifications totaled $ 303 million , or $ 189 million after-tax , and $ 523 million , or $ 317 million after-tax , as of december 31 , 2011 and 2010 , respectively , and were recorded in accumulated other comprehensive income , or oci .
refer to note 12 to the consolidated financial statements included under item 8 .
the decline in these remaining after-tax unrealized losses related to reclassifications from december 31 , 2010 to december 31 , 2011 resulted primarily from amortization .
we conduct periodic reviews of individual securities to assess whether other-than-temporary impairment exists .
to the extent that other-than-temporary impairment is identified , the impairment is broken into a credit component and a non-credit component .
the credit component is recorded in our consolidated statement of income , and the non-credit component is recorded in oci to the extent that we do not intend to sell the security .
our assessment of other-than-temporary impairment involves an evaluation , more fully described in note 3 , of economic and security-specific factors .
such factors are based on estimates , derived by management , which contemplate current market conditions and security-specific performance .
to the extent that market conditions are worse than management 2019s expectations , other-than-temporary impairment could increase , in particular , the credit component that would be recorded in our consolidated statement of income .
given the exposure of our investment securities portfolio , particularly mortgage- and asset-backed securities , to residential mortgage and other consumer credit risks , the performance of the u.s .
housing market is a significant driver of the portfolio 2019s credit performance .
as such , our assessment of other-than-temporary impairment relies to a significant extent on our estimates of trends in national housing prices .
generally , indices that measure trends in national housing prices are published in arrears .
as of september 30 , 2011 , national housing prices , according to the case-shiller national home price index , had declined by approximately 31.3% ( 31.3 % ) peak-to-current .
overall , management 2019s expectation , for purposes of its evaluation of other-than-temporary impairment as of december 31 , 2011 , was that housing prices would decline by approximately 35% ( 35 % ) peak-to-trough .
the performance of certain mortgage products and vintages of securities continues to deteriorate .
in addition , management continues to believe that housing prices will decline further as indicated above .
the combination of these factors has led to an increase in management 2019s overall loss expectations .
our investment portfolio continues to be sensitive to management 2019s estimates of future cumulative losses .
ultimately , other-than- temporary impairment is based on specific cusip-level detailed analysis of the unique characteristics of each security .
in addition , we perform sensitivity analysis across each significant product type within the non-agency u.s .
residential mortgage-backed portfolio .
we estimate , for example , that other-than-temporary impairment of the investment portfolio could increase by approximately $ 10 million to $ 50 million , if national housing prices were to decline by 37% ( 37 % ) to 39% ( 39 % ) peak-to-trough , compared to management 2019s expectation of 35% ( 35 % ) described above .
this sensitivity estimate is based on a number of factors , including , but not limited to , the level of housing prices and the timing of defaults .
to the extent that such factors differ substantially from management 2019s current expectations , resulting loss estimates may differ materially from those stated .
excluding the securities for which other-than-temporary impairment was recorded in 2011 , management considers the aggregate decline in fair value of the remaining .
|
| | ( in millions ) | 2011 | 2010 |
|---:|:------------------------------|:---------------|:---------------|
| 0 | fair value | $ 99832 | $ 81881 |
| 1 | amortized cost | 100013 | 82329 |
| 2 | net unrealized loss pre-tax | $ -181 ( 181 ) | $ -448 ( 448 ) |
| 3 | net unrealized loss after-tax | $ -113 ( 113 ) | $ -270 ( 270 ) |
|
impairment the following table presents net unrealized losses on securities available for sale as of december 31: ._| | ( in millions ) | 2011 | 2010 |
|---:|:------------------------------|:---------------|:---------------|
| 0 | fair value | $ 99832 | $ 81881 |
| 1 | amortized cost | 100013 | 82329 |
| 2 | net unrealized loss pre-tax | $ -181 ( 181 ) | $ -448 ( 448 ) |
| 3 | net unrealized loss after-tax | $ -113 ( 113 ) | $ -270 ( 270 ) |_the net unrealized amounts presented above excluded the remaining net unrealized losses related to reclassifications of securities available for sale to securities held to maturity .
these unrealized losses related to reclassifications totaled $ 303 million , or $ 189 million after-tax , and $ 523 million , or $ 317 million after-tax , as of december 31 , 2011 and 2010 , respectively , and were recorded in accumulated other comprehensive income , or oci .
refer to note 12 to the consolidated financial statements included under item 8 .
the decline in these remaining after-tax unrealized losses related to reclassifications from december 31 , 2010 to december 31 , 2011 resulted primarily from amortization .
we conduct periodic reviews of individual securities to assess whether other-than-temporary impairment exists .
to the extent that other-than-temporary impairment is identified , the impairment is broken into a credit component and a non-credit component .
the credit component is recorded in our consolidated statement of income , and the non-credit component is recorded in oci to the extent that we do not intend to sell the security .
our assessment of other-than-temporary impairment involves an evaluation , more fully described in note 3 , of economic and security-specific factors .
such factors are based on estimates , derived by management , which contemplate current market conditions and security-specific performance .
to the extent that market conditions are worse than management 2019s expectations , other-than-temporary impairment could increase , in particular , the credit component that would be recorded in our consolidated statement of income .
given the exposure of our investment securities portfolio , particularly mortgage- and asset-backed securities , to residential mortgage and other consumer credit risks , the performance of the u.s .
housing market is a significant driver of the portfolio 2019s credit performance .
as such , our assessment of other-than-temporary impairment relies to a significant extent on our estimates of trends in national housing prices .
generally , indices that measure trends in national housing prices are published in arrears .
as of september 30 , 2011 , national housing prices , according to the case-shiller national home price index , had declined by approximately 31.3% ( 31.3 % ) peak-to-current .
overall , management 2019s expectation , for purposes of its evaluation of other-than-temporary impairment as of december 31 , 2011 , was that housing prices would decline by approximately 35% ( 35 % ) peak-to-trough .
the performance of certain mortgage products and vintages of securities continues to deteriorate .
in addition , management continues to believe that housing prices will decline further as indicated above .
the combination of these factors has led to an increase in management 2019s overall loss expectations .
our investment portfolio continues to be sensitive to management 2019s estimates of future cumulative losses .
ultimately , other-than- temporary impairment is based on specific cusip-level detailed analysis of the unique characteristics of each security .
in addition , we perform sensitivity analysis across each significant product type within the non-agency u.s .
residential mortgage-backed portfolio .
we estimate , for example , that other-than-temporary impairment of the investment portfolio could increase by approximately $ 10 million to $ 50 million , if national housing prices were to decline by 37% ( 37 % ) to 39% ( 39 % ) peak-to-trough , compared to management 2019s expectation of 35% ( 35 % ) described above .
this sensitivity estimate is based on a number of factors , including , but not limited to , the level of housing prices and the timing of defaults .
to the extent that such factors differ substantially from management 2019s current expectations , resulting loss estimates may differ materially from those stated .
excluding the securities for which other-than-temporary impairment was recorded in 2011 , management considers the aggregate decline in fair value of the remaining .
| 2,011
| 83
|
STT
|
State Street Corporation
|
Financials
|
Asset Management & Custody Banks
|
Boston, Massachusetts
|
2003-03-14
| 93,751
|
1792
|
in 2011 what was the amount of tax related to the unrealized losses reclassifications totaled $ 303 million , or $ 189 million after-tax,
|
114
|
subtract(303, 189)
|
impairment the following table presents net unrealized losses on securities available for sale as of december 31: .
|
the net unrealized amounts presented above excluded the remaining net unrealized losses related to reclassifications of securities available for sale to securities held to maturity .
these unrealized losses related to reclassifications totaled $ 303 million , or $ 189 million after-tax , and $ 523 million , or $ 317 million after-tax , as of december 31 , 2011 and 2010 , respectively , and were recorded in accumulated other comprehensive income , or oci .
refer to note 12 to the consolidated financial statements included under item 8 .
the decline in these remaining after-tax unrealized losses related to reclassifications from december 31 , 2010 to december 31 , 2011 resulted primarily from amortization .
we conduct periodic reviews of individual securities to assess whether other-than-temporary impairment exists .
to the extent that other-than-temporary impairment is identified , the impairment is broken into a credit component and a non-credit component .
the credit component is recorded in our consolidated statement of income , and the non-credit component is recorded in oci to the extent that we do not intend to sell the security .
our assessment of other-than-temporary impairment involves an evaluation , more fully described in note 3 , of economic and security-specific factors .
such factors are based on estimates , derived by management , which contemplate current market conditions and security-specific performance .
to the extent that market conditions are worse than management 2019s expectations , other-than-temporary impairment could increase , in particular , the credit component that would be recorded in our consolidated statement of income .
given the exposure of our investment securities portfolio , particularly mortgage- and asset-backed securities , to residential mortgage and other consumer credit risks , the performance of the u.s .
housing market is a significant driver of the portfolio 2019s credit performance .
as such , our assessment of other-than-temporary impairment relies to a significant extent on our estimates of trends in national housing prices .
generally , indices that measure trends in national housing prices are published in arrears .
as of september 30 , 2011 , national housing prices , according to the case-shiller national home price index , had declined by approximately 31.3% ( 31.3 % ) peak-to-current .
overall , management 2019s expectation , for purposes of its evaluation of other-than-temporary impairment as of december 31 , 2011 , was that housing prices would decline by approximately 35% ( 35 % ) peak-to-trough .
the performance of certain mortgage products and vintages of securities continues to deteriorate .
in addition , management continues to believe that housing prices will decline further as indicated above .
the combination of these factors has led to an increase in management 2019s overall loss expectations .
our investment portfolio continues to be sensitive to management 2019s estimates of future cumulative losses .
ultimately , other-than- temporary impairment is based on specific cusip-level detailed analysis of the unique characteristics of each security .
in addition , we perform sensitivity analysis across each significant product type within the non-agency u.s .
residential mortgage-backed portfolio .
we estimate , for example , that other-than-temporary impairment of the investment portfolio could increase by approximately $ 10 million to $ 50 million , if national housing prices were to decline by 37% ( 37 % ) to 39% ( 39 % ) peak-to-trough , compared to management 2019s expectation of 35% ( 35 % ) described above .
this sensitivity estimate is based on a number of factors , including , but not limited to , the level of housing prices and the timing of defaults .
to the extent that such factors differ substantially from management 2019s current expectations , resulting loss estimates may differ materially from those stated .
excluding the securities for which other-than-temporary impairment was recorded in 2011 , management considers the aggregate decline in fair value of the remaining .
|
| | ( in millions ) | 2011 | 2010 |
|---:|:------------------------------|:---------------|:---------------|
| 0 | fair value | $ 99832 | $ 81881 |
| 1 | amortized cost | 100013 | 82329 |
| 2 | net unrealized loss pre-tax | $ -181 ( 181 ) | $ -448 ( 448 ) |
| 3 | net unrealized loss after-tax | $ -113 ( 113 ) | $ -270 ( 270 ) |
|
impairment the following table presents net unrealized losses on securities available for sale as of december 31: ._| | ( in millions ) | 2011 | 2010 |
|---:|:------------------------------|:---------------|:---------------|
| 0 | fair value | $ 99832 | $ 81881 |
| 1 | amortized cost | 100013 | 82329 |
| 2 | net unrealized loss pre-tax | $ -181 ( 181 ) | $ -448 ( 448 ) |
| 3 | net unrealized loss after-tax | $ -113 ( 113 ) | $ -270 ( 270 ) |_the net unrealized amounts presented above excluded the remaining net unrealized losses related to reclassifications of securities available for sale to securities held to maturity .
these unrealized losses related to reclassifications totaled $ 303 million , or $ 189 million after-tax , and $ 523 million , or $ 317 million after-tax , as of december 31 , 2011 and 2010 , respectively , and were recorded in accumulated other comprehensive income , or oci .
refer to note 12 to the consolidated financial statements included under item 8 .
the decline in these remaining after-tax unrealized losses related to reclassifications from december 31 , 2010 to december 31 , 2011 resulted primarily from amortization .
we conduct periodic reviews of individual securities to assess whether other-than-temporary impairment exists .
to the extent that other-than-temporary impairment is identified , the impairment is broken into a credit component and a non-credit component .
the credit component is recorded in our consolidated statement of income , and the non-credit component is recorded in oci to the extent that we do not intend to sell the security .
our assessment of other-than-temporary impairment involves an evaluation , more fully described in note 3 , of economic and security-specific factors .
such factors are based on estimates , derived by management , which contemplate current market conditions and security-specific performance .
to the extent that market conditions are worse than management 2019s expectations , other-than-temporary impairment could increase , in particular , the credit component that would be recorded in our consolidated statement of income .
given the exposure of our investment securities portfolio , particularly mortgage- and asset-backed securities , to residential mortgage and other consumer credit risks , the performance of the u.s .
housing market is a significant driver of the portfolio 2019s credit performance .
as such , our assessment of other-than-temporary impairment relies to a significant extent on our estimates of trends in national housing prices .
generally , indices that measure trends in national housing prices are published in arrears .
as of september 30 , 2011 , national housing prices , according to the case-shiller national home price index , had declined by approximately 31.3% ( 31.3 % ) peak-to-current .
overall , management 2019s expectation , for purposes of its evaluation of other-than-temporary impairment as of december 31 , 2011 , was that housing prices would decline by approximately 35% ( 35 % ) peak-to-trough .
the performance of certain mortgage products and vintages of securities continues to deteriorate .
in addition , management continues to believe that housing prices will decline further as indicated above .
the combination of these factors has led to an increase in management 2019s overall loss expectations .
our investment portfolio continues to be sensitive to management 2019s estimates of future cumulative losses .
ultimately , other-than- temporary impairment is based on specific cusip-level detailed analysis of the unique characteristics of each security .
in addition , we perform sensitivity analysis across each significant product type within the non-agency u.s .
residential mortgage-backed portfolio .
we estimate , for example , that other-than-temporary impairment of the investment portfolio could increase by approximately $ 10 million to $ 50 million , if national housing prices were to decline by 37% ( 37 % ) to 39% ( 39 % ) peak-to-trough , compared to management 2019s expectation of 35% ( 35 % ) described above .
this sensitivity estimate is based on a number of factors , including , but not limited to , the level of housing prices and the timing of defaults .
to the extent that such factors differ substantially from management 2019s current expectations , resulting loss estimates may differ materially from those stated .
excluding the securities for which other-than-temporary impairment was recorded in 2011 , management considers the aggregate decline in fair value of the remaining .
| 2,011
| 83
|
STT
|
State Street Corporation
|
Financials
|
Asset Management & Custody Banks
|
Boston, Massachusetts
|
2003-03-14
| 93,751
|
1792
| null | null |
finqa14
|
what percentage of total aggregate contractual obligations is due to purchase obligationst?
|
34%
|
divide(177.3, 521.3)
|
table of contents item 7 2013 management 2019s discussion and analysis of financial condition and results of operations liquidity and capital resources we recorded net earnings of $ 35.4 million or $ 1.18 per share in 2004 , compared with $ 52.2 million or $ 1.76 per share recorded in 2003 and $ 51.3 million or $ 1.86 per share in 2002 .
net earnings recorded in 2004 were negatively impacted by cost increases to steel and freight , as well as manufacturing inefficiencies during the first nine months of the year in our ashland city plant and higher selling , general and administrative expense ( sg&a ) .
while net earnings were flat in 2003 compared with 2002 , the lower earnings per share amount in 2003 as compared with 2002 reflected the full-year impact of our stock offering in may 2002 .
our individual segment performance will be discussed later in this section .
our working capital , excluding short-term debt , was $ 339.8 million at december 31 , 2004 , compared with $ 305.9 million and $ 225.1 million at december 31 , 2003 , and december 31 , 2002 , respectively .
the $ 33.9 million increase in 2004 reflects $ 44.9 million higher receivable balances due to longer payment terms experienced by both of our businesses as well as higher sales levels in the fourth quarter .
offsetting the increase in receivable balances were $ 13.5 million lower inventory levels split about equally between water systems and electrical products and $ 14.3 million higher accounts payable balances .
the $ 80.8 million increase in 2003 reflects $ 46.6 million higher inventory balances due primarily to extensive manufacturing repositioning in our electric motor business and several new product introductions and manufacturing consolidation in our water systems business .
additionally , receivable balances were $ 21.2 million higher due to price increases associated with new product introductions in our water systems business and an increase in international sales , which tend to have longer payment terms .
finally , a $ 13.1 million increase in accounts payable balances was largely offset by $ 9.4 million in restructuring expenses paid out in 2003 .
reducing working capital is one of our major initiatives in 2005 .
cash provided by operating activities during 2004 was $ 67.2 million compared with $ 29.0 million during 2003 and $ 116.0 million during 2002 .
despite lower earnings in 2004 , a smaller investment in working capital explains the majority of the improvement in cash flow compared with 2003 .
the higher investment in working capital in 2003 ( as discussed above ) , explains the majority of the difference between 2003 and our capital expenditures were $ 48.5 million in 2004 , essentially the same as in 2003 and approximately $ 2.2 million higher than in 2002 .
the increase in 2003 was associated with new product launches in our water systems business .
we are projecting 2005 capital expenditures to be approximately $ 55 million , essentially the same as our projected 2005 depreciation expense .
we believe that our present facilities and planned capital expenditures are sufficient to provide adequate capacity for our operations in 2005 .
in june 2004 , we completed a $ 265 million , five-year revolving credit facility with a group of eight banks .
the new facility expires on june 10 , 2009 , and it replaced a $ 250 million credit facility which expired on august 2 , 2004 , and was terminated on june 10 , 2004 .
the new facility backs up commercial paper and credit line borrowings .
as a result of the long-term nature of this facility , the commercial paper and credit line borrowings are now classified as long-term debt .
at december 31 , 2004 , we had available borrowing capacity of $ 153.9 million under this facility .
we believe that the combination of available borrowing capacity and operating cash flow will provide sufficient funds to finance our existing operations for the foreseeable future .
to take advantage of historically low long-term borrowing rates , we issued $ 50.0 million in senior notes with two insurance companies in june 2003 .
the notes range in maturity between 2013 and 2016 and carry a weighted average interest rate of slightly less than 4.5 percent .
the proceeds of the notes were used to repay commercial paper and borrowing under the credit facility .
our leverage , as measured by the ratio of total debt to total capitalization , was 32 percent at the end of 2004 and the end of 2003 .
aggregate contractual obligations a summary of our contractual obligations as of december 31 , 2004 , is as follows: .
|
.
|
| | ( dollars in millions ) contractual obligation | ( dollars in millions ) total | ( dollars in millions ) less than 1 year | ( dollars in millions ) 1 - 3 years | ( dollars in millions ) 3 - 5 years | more than 5 years |
|---:|:-------------------------------------------------|:--------------------------------|:-------------------------------------------|:--------------------------------------|:--------------------------------------|:--------------------|
| 0 | long-term debt | $ 275.1 | $ 8.6 | $ 13.8 | $ 138.2 | $ 114.5 |
| 1 | capital leases | 6.0 | 2014 | 2014 | 6.0 | 2014 |
| 2 | operating leases | 62.9 | 14.4 | 20.7 | 11.6 | 16.2 |
| 3 | purchase obligations | 177.3 | 176.6 | 0.7 | 2014 | 2014 |
| 4 | total | $ 521.3 | $ 199.6 | $ 35.2 | $ 155.8 | $ 130.7 |
|
table of contents item 7 2013 management 2019s discussion and analysis of financial condition and results of operations liquidity and capital resources we recorded net earnings of $ 35.4 million or $ 1.18 per share in 2004 , compared with $ 52.2 million or $ 1.76 per share recorded in 2003 and $ 51.3 million or $ 1.86 per share in 2002 .
net earnings recorded in 2004 were negatively impacted by cost increases to steel and freight , as well as manufacturing inefficiencies during the first nine months of the year in our ashland city plant and higher selling , general and administrative expense ( sg&a ) .
while net earnings were flat in 2003 compared with 2002 , the lower earnings per share amount in 2003 as compared with 2002 reflected the full-year impact of our stock offering in may 2002 .
our individual segment performance will be discussed later in this section .
our working capital , excluding short-term debt , was $ 339.8 million at december 31 , 2004 , compared with $ 305.9 million and $ 225.1 million at december 31 , 2003 , and december 31 , 2002 , respectively .
the $ 33.9 million increase in 2004 reflects $ 44.9 million higher receivable balances due to longer payment terms experienced by both of our businesses as well as higher sales levels in the fourth quarter .
offsetting the increase in receivable balances were $ 13.5 million lower inventory levels split about equally between water systems and electrical products and $ 14.3 million higher accounts payable balances .
the $ 80.8 million increase in 2003 reflects $ 46.6 million higher inventory balances due primarily to extensive manufacturing repositioning in our electric motor business and several new product introductions and manufacturing consolidation in our water systems business .
additionally , receivable balances were $ 21.2 million higher due to price increases associated with new product introductions in our water systems business and an increase in international sales , which tend to have longer payment terms .
finally , a $ 13.1 million increase in accounts payable balances was largely offset by $ 9.4 million in restructuring expenses paid out in 2003 .
reducing working capital is one of our major initiatives in 2005 .
cash provided by operating activities during 2004 was $ 67.2 million compared with $ 29.0 million during 2003 and $ 116.0 million during 2002 .
despite lower earnings in 2004 , a smaller investment in working capital explains the majority of the improvement in cash flow compared with 2003 .
the higher investment in working capital in 2003 ( as discussed above ) , explains the majority of the difference between 2003 and our capital expenditures were $ 48.5 million in 2004 , essentially the same as in 2003 and approximately $ 2.2 million higher than in 2002 .
the increase in 2003 was associated with new product launches in our water systems business .
we are projecting 2005 capital expenditures to be approximately $ 55 million , essentially the same as our projected 2005 depreciation expense .
we believe that our present facilities and planned capital expenditures are sufficient to provide adequate capacity for our operations in 2005 .
in june 2004 , we completed a $ 265 million , five-year revolving credit facility with a group of eight banks .
the new facility expires on june 10 , 2009 , and it replaced a $ 250 million credit facility which expired on august 2 , 2004 , and was terminated on june 10 , 2004 .
the new facility backs up commercial paper and credit line borrowings .
as a result of the long-term nature of this facility , the commercial paper and credit line borrowings are now classified as long-term debt .
at december 31 , 2004 , we had available borrowing capacity of $ 153.9 million under this facility .
we believe that the combination of available borrowing capacity and operating cash flow will provide sufficient funds to finance our existing operations for the foreseeable future .
to take advantage of historically low long-term borrowing rates , we issued $ 50.0 million in senior notes with two insurance companies in june 2003 .
the notes range in maturity between 2013 and 2016 and carry a weighted average interest rate of slightly less than 4.5 percent .
the proceeds of the notes were used to repay commercial paper and borrowing under the credit facility .
our leverage , as measured by the ratio of total debt to total capitalization , was 32 percent at the end of 2004 and the end of 2003 .
aggregate contractual obligations a summary of our contractual obligations as of december 31 , 2004 , is as follows: ._| | ( dollars in millions ) contractual obligation | ( dollars in millions ) total | ( dollars in millions ) less than 1 year | ( dollars in millions ) 1 - 3 years | ( dollars in millions ) 3 - 5 years | more than 5 years |
|---:|:-------------------------------------------------|:--------------------------------|:-------------------------------------------|:--------------------------------------|:--------------------------------------|:--------------------|
| 0 | long-term debt | $ 275.1 | $ 8.6 | $ 13.8 | $ 138.2 | $ 114.5 |
| 1 | capital leases | 6.0 | 2014 | 2014 | 6.0 | 2014 |
| 2 | operating leases | 62.9 | 14.4 | 20.7 | 11.6 | 16.2 |
| 3 | purchase obligations | 177.3 | 176.6 | 0.7 | 2014 | 2014 |
| 4 | total | $ 521.3 | $ 199.6 | $ 35.2 | $ 155.8 | $ 130.7 |_.
| 2,004
| 11
|
AOS
|
A. O. Smith
|
Industrials
|
Building Products
|
Milwaukee, Wisconsin
|
2017-07-26
| 91,142
|
1916
|
what percentage of total aggregate contractual obligations is due to purchase obligationst?
|
34%
|
divide(177.3, 521.3)
|
table of contents item 7 2013 management 2019s discussion and analysis of financial condition and results of operations liquidity and capital resources we recorded net earnings of $ 35.4 million or $ 1.18 per share in 2004 , compared with $ 52.2 million or $ 1.76 per share recorded in 2003 and $ 51.3 million or $ 1.86 per share in 2002 .
net earnings recorded in 2004 were negatively impacted by cost increases to steel and freight , as well as manufacturing inefficiencies during the first nine months of the year in our ashland city plant and higher selling , general and administrative expense ( sg&a ) .
while net earnings were flat in 2003 compared with 2002 , the lower earnings per share amount in 2003 as compared with 2002 reflected the full-year impact of our stock offering in may 2002 .
our individual segment performance will be discussed later in this section .
our working capital , excluding short-term debt , was $ 339.8 million at december 31 , 2004 , compared with $ 305.9 million and $ 225.1 million at december 31 , 2003 , and december 31 , 2002 , respectively .
the $ 33.9 million increase in 2004 reflects $ 44.9 million higher receivable balances due to longer payment terms experienced by both of our businesses as well as higher sales levels in the fourth quarter .
offsetting the increase in receivable balances were $ 13.5 million lower inventory levels split about equally between water systems and electrical products and $ 14.3 million higher accounts payable balances .
the $ 80.8 million increase in 2003 reflects $ 46.6 million higher inventory balances due primarily to extensive manufacturing repositioning in our electric motor business and several new product introductions and manufacturing consolidation in our water systems business .
additionally , receivable balances were $ 21.2 million higher due to price increases associated with new product introductions in our water systems business and an increase in international sales , which tend to have longer payment terms .
finally , a $ 13.1 million increase in accounts payable balances was largely offset by $ 9.4 million in restructuring expenses paid out in 2003 .
reducing working capital is one of our major initiatives in 2005 .
cash provided by operating activities during 2004 was $ 67.2 million compared with $ 29.0 million during 2003 and $ 116.0 million during 2002 .
despite lower earnings in 2004 , a smaller investment in working capital explains the majority of the improvement in cash flow compared with 2003 .
the higher investment in working capital in 2003 ( as discussed above ) , explains the majority of the difference between 2003 and our capital expenditures were $ 48.5 million in 2004 , essentially the same as in 2003 and approximately $ 2.2 million higher than in 2002 .
the increase in 2003 was associated with new product launches in our water systems business .
we are projecting 2005 capital expenditures to be approximately $ 55 million , essentially the same as our projected 2005 depreciation expense .
we believe that our present facilities and planned capital expenditures are sufficient to provide adequate capacity for our operations in 2005 .
in june 2004 , we completed a $ 265 million , five-year revolving credit facility with a group of eight banks .
the new facility expires on june 10 , 2009 , and it replaced a $ 250 million credit facility which expired on august 2 , 2004 , and was terminated on june 10 , 2004 .
the new facility backs up commercial paper and credit line borrowings .
as a result of the long-term nature of this facility , the commercial paper and credit line borrowings are now classified as long-term debt .
at december 31 , 2004 , we had available borrowing capacity of $ 153.9 million under this facility .
we believe that the combination of available borrowing capacity and operating cash flow will provide sufficient funds to finance our existing operations for the foreseeable future .
to take advantage of historically low long-term borrowing rates , we issued $ 50.0 million in senior notes with two insurance companies in june 2003 .
the notes range in maturity between 2013 and 2016 and carry a weighted average interest rate of slightly less than 4.5 percent .
the proceeds of the notes were used to repay commercial paper and borrowing under the credit facility .
our leverage , as measured by the ratio of total debt to total capitalization , was 32 percent at the end of 2004 and the end of 2003 .
aggregate contractual obligations a summary of our contractual obligations as of december 31 , 2004 , is as follows: .
|
.
|
| | ( dollars in millions ) contractual obligation | ( dollars in millions ) total | ( dollars in millions ) less than 1 year | ( dollars in millions ) 1 - 3 years | ( dollars in millions ) 3 - 5 years | more than 5 years |
|---:|:-------------------------------------------------|:--------------------------------|:-------------------------------------------|:--------------------------------------|:--------------------------------------|:--------------------|
| 0 | long-term debt | $ 275.1 | $ 8.6 | $ 13.8 | $ 138.2 | $ 114.5 |
| 1 | capital leases | 6.0 | 2014 | 2014 | 6.0 | 2014 |
| 2 | operating leases | 62.9 | 14.4 | 20.7 | 11.6 | 16.2 |
| 3 | purchase obligations | 177.3 | 176.6 | 0.7 | 2014 | 2014 |
| 4 | total | $ 521.3 | $ 199.6 | $ 35.2 | $ 155.8 | $ 130.7 |
|
table of contents item 7 2013 management 2019s discussion and analysis of financial condition and results of operations liquidity and capital resources we recorded net earnings of $ 35.4 million or $ 1.18 per share in 2004 , compared with $ 52.2 million or $ 1.76 per share recorded in 2003 and $ 51.3 million or $ 1.86 per share in 2002 .
net earnings recorded in 2004 were negatively impacted by cost increases to steel and freight , as well as manufacturing inefficiencies during the first nine months of the year in our ashland city plant and higher selling , general and administrative expense ( sg&a ) .
while net earnings were flat in 2003 compared with 2002 , the lower earnings per share amount in 2003 as compared with 2002 reflected the full-year impact of our stock offering in may 2002 .
our individual segment performance will be discussed later in this section .
our working capital , excluding short-term debt , was $ 339.8 million at december 31 , 2004 , compared with $ 305.9 million and $ 225.1 million at december 31 , 2003 , and december 31 , 2002 , respectively .
the $ 33.9 million increase in 2004 reflects $ 44.9 million higher receivable balances due to longer payment terms experienced by both of our businesses as well as higher sales levels in the fourth quarter .
offsetting the increase in receivable balances were $ 13.5 million lower inventory levels split about equally between water systems and electrical products and $ 14.3 million higher accounts payable balances .
the $ 80.8 million increase in 2003 reflects $ 46.6 million higher inventory balances due primarily to extensive manufacturing repositioning in our electric motor business and several new product introductions and manufacturing consolidation in our water systems business .
additionally , receivable balances were $ 21.2 million higher due to price increases associated with new product introductions in our water systems business and an increase in international sales , which tend to have longer payment terms .
finally , a $ 13.1 million increase in accounts payable balances was largely offset by $ 9.4 million in restructuring expenses paid out in 2003 .
reducing working capital is one of our major initiatives in 2005 .
cash provided by operating activities during 2004 was $ 67.2 million compared with $ 29.0 million during 2003 and $ 116.0 million during 2002 .
despite lower earnings in 2004 , a smaller investment in working capital explains the majority of the improvement in cash flow compared with 2003 .
the higher investment in working capital in 2003 ( as discussed above ) , explains the majority of the difference between 2003 and our capital expenditures were $ 48.5 million in 2004 , essentially the same as in 2003 and approximately $ 2.2 million higher than in 2002 .
the increase in 2003 was associated with new product launches in our water systems business .
we are projecting 2005 capital expenditures to be approximately $ 55 million , essentially the same as our projected 2005 depreciation expense .
we believe that our present facilities and planned capital expenditures are sufficient to provide adequate capacity for our operations in 2005 .
in june 2004 , we completed a $ 265 million , five-year revolving credit facility with a group of eight banks .
the new facility expires on june 10 , 2009 , and it replaced a $ 250 million credit facility which expired on august 2 , 2004 , and was terminated on june 10 , 2004 .
the new facility backs up commercial paper and credit line borrowings .
as a result of the long-term nature of this facility , the commercial paper and credit line borrowings are now classified as long-term debt .
at december 31 , 2004 , we had available borrowing capacity of $ 153.9 million under this facility .
we believe that the combination of available borrowing capacity and operating cash flow will provide sufficient funds to finance our existing operations for the foreseeable future .
to take advantage of historically low long-term borrowing rates , we issued $ 50.0 million in senior notes with two insurance companies in june 2003 .
the notes range in maturity between 2013 and 2016 and carry a weighted average interest rate of slightly less than 4.5 percent .
the proceeds of the notes were used to repay commercial paper and borrowing under the credit facility .
our leverage , as measured by the ratio of total debt to total capitalization , was 32 percent at the end of 2004 and the end of 2003 .
aggregate contractual obligations a summary of our contractual obligations as of december 31 , 2004 , is as follows: ._| | ( dollars in millions ) contractual obligation | ( dollars in millions ) total | ( dollars in millions ) less than 1 year | ( dollars in millions ) 1 - 3 years | ( dollars in millions ) 3 - 5 years | more than 5 years |
|---:|:-------------------------------------------------|:--------------------------------|:-------------------------------------------|:--------------------------------------|:--------------------------------------|:--------------------|
| 0 | long-term debt | $ 275.1 | $ 8.6 | $ 13.8 | $ 138.2 | $ 114.5 |
| 1 | capital leases | 6.0 | 2014 | 2014 | 6.0 | 2014 |
| 2 | operating leases | 62.9 | 14.4 | 20.7 | 11.6 | 16.2 |
| 3 | purchase obligations | 177.3 | 176.6 | 0.7 | 2014 | 2014 |
| 4 | total | $ 521.3 | $ 199.6 | $ 35.2 | $ 155.8 | $ 130.7 |_.
| 2,004
| 11
|
AOS
|
A. O. Smith
|
Industrials
|
Building Products
|
Milwaukee, Wisconsin
|
2017-07-26
| 91,142
|
1916
| null | null |
finqa15
|
in 2010 what was the percentage change of the carrying amount of loan receivable net of the allowance
|
-52.5%
|
divide(subtract(subtract(469, 77), subtract(920, 95)), subtract(920, 95))
|
included in the corporate and consumer loan tables above are purchased distressed loans , which are loans that have evidenced significant credit deterioration subsequent to origination but prior to acquisition by citigroup .
in accordance with sop 03-3 , the difference between the total expected cash flows for these loans and the initial recorded investments is recognized in income over the life of the loans using a level yield .
accordingly , these loans have been excluded from the impaired loan information presented above .
in addition , per sop 03-3 , subsequent decreases to the expected cash flows for a purchased distressed loan require a build of an allowance so the loan retains its level yield .
however , increases in the expected cash flows are first recognized as a reduction of any previously established allowance and then recognized as income prospectively over the remaining life of the loan by increasing the loan 2019s level yield .
where the expected cash flows cannot be reliably estimated , the purchased distressed loan is accounted for under the cost recovery method .
the carrying amount of the company 2019s purchased distressed loan portfolio at december 31 , 2010 was $ 392 million , net of an allowance of $ 77 million as of december 31 , 2010 .
the changes in the accretable yield , related allowance and carrying amount net of accretable yield for 2010 are as follows : in millions of dollars accretable carrying amount of loan receivable allowance .
|
( 1 ) the balance reported in the column 201ccarrying amount of loan receivable 201d consists of $ 130 million of purchased loans accounted for under the level-yield method and $ 0 under the cost-recovery method .
these balances represent the fair value of these loans at their acquisition date .
the related total expected cash flows for the level-yield loans were $ 131 million at their acquisition dates .
( 2 ) the balance reported in the column 201ccarrying amount of loan receivable 201d consists of $ 315 million of loans accounted for under the level-yield method and $ 154 million accounted for under the cost-recovery method. .
|
| | in millions of dollars | accretable yield | carrying amount of loan receivable | allowance |
|---:|:---------------------------------------|:-------------------|:-------------------------------------|:------------|
| 0 | beginning balance | $ 27 | $ 920 | $ 95 |
| 1 | purchases ( 1 ) | 1 | 130 | 2014 |
| 2 | disposals/payments received | -11 ( 11 ) | -594 ( 594 ) | 2014 |
| 3 | accretion | -44 ( 44 ) | 44 | 2014 |
| 4 | builds ( reductions ) to the allowance | 128 | 2014 | -18 ( 18 ) |
| 5 | increase to expected cash flows | -2 ( 2 ) | 19 | 2014 |
| 6 | fx/other | 17 | -50 ( 50 ) | 2014 |
| 7 | balance at december 31 2010 ( 2 ) | $ 116 | $ 469 | $ 77 |
|
included in the corporate and consumer loan tables above are purchased distressed loans , which are loans that have evidenced significant credit deterioration subsequent to origination but prior to acquisition by citigroup .
in accordance with sop 03-3 , the difference between the total expected cash flows for these loans and the initial recorded investments is recognized in income over the life of the loans using a level yield .
accordingly , these loans have been excluded from the impaired loan information presented above .
in addition , per sop 03-3 , subsequent decreases to the expected cash flows for a purchased distressed loan require a build of an allowance so the loan retains its level yield .
however , increases in the expected cash flows are first recognized as a reduction of any previously established allowance and then recognized as income prospectively over the remaining life of the loan by increasing the loan 2019s level yield .
where the expected cash flows cannot be reliably estimated , the purchased distressed loan is accounted for under the cost recovery method .
the carrying amount of the company 2019s purchased distressed loan portfolio at december 31 , 2010 was $ 392 million , net of an allowance of $ 77 million as of december 31 , 2010 .
the changes in the accretable yield , related allowance and carrying amount net of accretable yield for 2010 are as follows : in millions of dollars accretable carrying amount of loan receivable allowance ._| | in millions of dollars | accretable yield | carrying amount of loan receivable | allowance |
|---:|:---------------------------------------|:-------------------|:-------------------------------------|:------------|
| 0 | beginning balance | $ 27 | $ 920 | $ 95 |
| 1 | purchases ( 1 ) | 1 | 130 | 2014 |
| 2 | disposals/payments received | -11 ( 11 ) | -594 ( 594 ) | 2014 |
| 3 | accretion | -44 ( 44 ) | 44 | 2014 |
| 4 | builds ( reductions ) to the allowance | 128 | 2014 | -18 ( 18 ) |
| 5 | increase to expected cash flows | -2 ( 2 ) | 19 | 2014 |
| 6 | fx/other | 17 | -50 ( 50 ) | 2014 |
| 7 | balance at december 31 2010 ( 2 ) | $ 116 | $ 469 | $ 77 |_( 1 ) the balance reported in the column 201ccarrying amount of loan receivable 201d consists of $ 130 million of purchased loans accounted for under the level-yield method and $ 0 under the cost-recovery method .
these balances represent the fair value of these loans at their acquisition date .
the related total expected cash flows for the level-yield loans were $ 131 million at their acquisition dates .
( 2 ) the balance reported in the column 201ccarrying amount of loan receivable 201d consists of $ 315 million of loans accounted for under the level-yield method and $ 154 million accounted for under the cost-recovery method. .
| 2,010
| 223
|
C
|
Citigroup
|
Financials
|
Diversified Banks
|
New York City, New York
|
1988-05-31
| 831,001
|
1998
|
in 2010 what was the percentage change of the carrying amount of loan receivable net of the allowance
|
-52.5%
|
divide(subtract(subtract(469, 77), subtract(920, 95)), subtract(920, 95))
|
included in the corporate and consumer loan tables above are purchased distressed loans , which are loans that have evidenced significant credit deterioration subsequent to origination but prior to acquisition by citigroup .
in accordance with sop 03-3 , the difference between the total expected cash flows for these loans and the initial recorded investments is recognized in income over the life of the loans using a level yield .
accordingly , these loans have been excluded from the impaired loan information presented above .
in addition , per sop 03-3 , subsequent decreases to the expected cash flows for a purchased distressed loan require a build of an allowance so the loan retains its level yield .
however , increases in the expected cash flows are first recognized as a reduction of any previously established allowance and then recognized as income prospectively over the remaining life of the loan by increasing the loan 2019s level yield .
where the expected cash flows cannot be reliably estimated , the purchased distressed loan is accounted for under the cost recovery method .
the carrying amount of the company 2019s purchased distressed loan portfolio at december 31 , 2010 was $ 392 million , net of an allowance of $ 77 million as of december 31 , 2010 .
the changes in the accretable yield , related allowance and carrying amount net of accretable yield for 2010 are as follows : in millions of dollars accretable carrying amount of loan receivable allowance .
|
( 1 ) the balance reported in the column 201ccarrying amount of loan receivable 201d consists of $ 130 million of purchased loans accounted for under the level-yield method and $ 0 under the cost-recovery method .
these balances represent the fair value of these loans at their acquisition date .
the related total expected cash flows for the level-yield loans were $ 131 million at their acquisition dates .
( 2 ) the balance reported in the column 201ccarrying amount of loan receivable 201d consists of $ 315 million of loans accounted for under the level-yield method and $ 154 million accounted for under the cost-recovery method. .
|
| | in millions of dollars | accretable yield | carrying amount of loan receivable | allowance |
|---:|:---------------------------------------|:-------------------|:-------------------------------------|:------------|
| 0 | beginning balance | $ 27 | $ 920 | $ 95 |
| 1 | purchases ( 1 ) | 1 | 130 | 2014 |
| 2 | disposals/payments received | -11 ( 11 ) | -594 ( 594 ) | 2014 |
| 3 | accretion | -44 ( 44 ) | 44 | 2014 |
| 4 | builds ( reductions ) to the allowance | 128 | 2014 | -18 ( 18 ) |
| 5 | increase to expected cash flows | -2 ( 2 ) | 19 | 2014 |
| 6 | fx/other | 17 | -50 ( 50 ) | 2014 |
| 7 | balance at december 31 2010 ( 2 ) | $ 116 | $ 469 | $ 77 |
|
included in the corporate and consumer loan tables above are purchased distressed loans , which are loans that have evidenced significant credit deterioration subsequent to origination but prior to acquisition by citigroup .
in accordance with sop 03-3 , the difference between the total expected cash flows for these loans and the initial recorded investments is recognized in income over the life of the loans using a level yield .
accordingly , these loans have been excluded from the impaired loan information presented above .
in addition , per sop 03-3 , subsequent decreases to the expected cash flows for a purchased distressed loan require a build of an allowance so the loan retains its level yield .
however , increases in the expected cash flows are first recognized as a reduction of any previously established allowance and then recognized as income prospectively over the remaining life of the loan by increasing the loan 2019s level yield .
where the expected cash flows cannot be reliably estimated , the purchased distressed loan is accounted for under the cost recovery method .
the carrying amount of the company 2019s purchased distressed loan portfolio at december 31 , 2010 was $ 392 million , net of an allowance of $ 77 million as of december 31 , 2010 .
the changes in the accretable yield , related allowance and carrying amount net of accretable yield for 2010 are as follows : in millions of dollars accretable carrying amount of loan receivable allowance ._| | in millions of dollars | accretable yield | carrying amount of loan receivable | allowance |
|---:|:---------------------------------------|:-------------------|:-------------------------------------|:------------|
| 0 | beginning balance | $ 27 | $ 920 | $ 95 |
| 1 | purchases ( 1 ) | 1 | 130 | 2014 |
| 2 | disposals/payments received | -11 ( 11 ) | -594 ( 594 ) | 2014 |
| 3 | accretion | -44 ( 44 ) | 44 | 2014 |
| 4 | builds ( reductions ) to the allowance | 128 | 2014 | -18 ( 18 ) |
| 5 | increase to expected cash flows | -2 ( 2 ) | 19 | 2014 |
| 6 | fx/other | 17 | -50 ( 50 ) | 2014 |
| 7 | balance at december 31 2010 ( 2 ) | $ 116 | $ 469 | $ 77 |_( 1 ) the balance reported in the column 201ccarrying amount of loan receivable 201d consists of $ 130 million of purchased loans accounted for under the level-yield method and $ 0 under the cost-recovery method .
these balances represent the fair value of these loans at their acquisition date .
the related total expected cash flows for the level-yield loans were $ 131 million at their acquisition dates .
( 2 ) the balance reported in the column 201ccarrying amount of loan receivable 201d consists of $ 315 million of loans accounted for under the level-yield method and $ 154 million accounted for under the cost-recovery method. .
| 2,010
| 223
|
C
|
Citigroup
|
Financials
|
Diversified Banks
|
New York City, New York
|
1988-05-31
| 831,001
|
1998
| null | null |
finqa16
|
what was the percent of the total long-term debt obligations that was due after 2011
|
35.1%
|
divide(1451, 4134)
|
53management's discussion and analysis of financial condition and results of operations in order to borrow funds under the 5-year credit facility , the company must be in compliance with various conditions , covenants and representations contained in the agreements .
the company was in compliance with the terms of the 5-year credit facility at december 31 , 2006 .
the company has never borrowed under its domestic revolving credit facilities .
utilization of the non-u.s .
credit facilities may also be dependent on the company's ability to meet certain conditions at the time a borrowing is requested .
contractual obligations , guarantees , and other purchase commitments contractual obligations summarized in the table below are the company's obligations and commitments to make future payments under debt obligations ( assuming earliest possible exercise of put rights by holders ) , lease payment obligations , and purchase obligations as of december 31 , 2006 .
payments due by period ( 1 ) ( in millions ) total 2007 2008 2009 2010 2011 thereafter .
|
( 1 ) amounts included represent firm , non-cancelable commitments .
debt obligations : at december 31 , 2006 , the company's long-term debt obligations , including current maturities and unamortized discount and issue costs , totaled $ 4.1 billion , as compared to $ 4.0 billion at december 31 , 2005 .
a table of all outstanding long-term debt securities can be found in note 4 , ""debt and credit facilities'' to the company's consolidated financial statements .
lease obligations : the company owns most of its major facilities , but does lease certain office , factory and warehouse space , land , and information technology and other equipment under principally non-cancelable operating leases .
at december 31 , 2006 , future minimum lease obligations , net of minimum sublease rentals , totaled $ 2.3 billion .
rental expense , net of sublease income , was $ 241 million in 2006 , $ 250 million in 2005 and $ 205 million in 2004 .
purchase obligations : the company has entered into agreements for the purchase of inventory , license of software , promotional agreements , and research and development agreements which are firm commitments and are not cancelable .
the longest of these agreements extends through 2015 .
total payments expected to be made under these agreements total $ 1.0 billion .
commitments under other long-term agreements : the company has entered into certain long-term agreements to purchase software , components , supplies and materials from suppliers .
most of the agreements extend for periods of one to three years ( three to five years for software ) .
however , generally these agreements do not obligate the company to make any purchases , and many permit the company to terminate the agreement with advance notice ( usually ranging from 60 to 180 days ) .
if the company were to terminate these agreements , it generally would be liable for certain termination charges , typically based on work performed and supplier on-hand inventory and raw materials attributable to canceled orders .
the company's liability would only arise in the event it terminates the agreements for reasons other than ""cause.'' the company also enters into a number of arrangements for the sourcing of supplies and materials with minimum purchase commitments and take-or-pay obligations .
the majority of the minimum purchase obligations under these contracts are over the life of the contract as opposed to a year-by-year take-or-pay .
if these agreements were terminated at december 31 , 2006 , the company's obligation would not have been significant .
the company does not anticipate the cancellation of any of these agreements in the future .
subsequent to the end of 2006 , the company entered into take-or-pay arrangements with suppliers through may 2009 with minimum purchase obligations of $ 2.2 billion during that period .
the company estimates purchases during that period that exceed the minimum obligations .
the company outsources certain corporate functions , such as benefit administration and information technology-related services .
these contracts are expected to expire in 2013 .
the total remaining payments under these contracts are approximately $ 1.3 billion over the remaining seven years ; however , these contracts can be %%transmsg*** transmitting job : c11830 pcn : 055000000 *** %%pcmsg| |00030|yes|no|02/28/2007 13:05|0|1|page is valid , no graphics -- color : n| .
|
| | ( in millions ) | payments due by period ( 1 ) total | payments due by period ( 1 ) 2007 | payments due by period ( 1 ) 2008 | payments due by period ( 1 ) 2009 | payments due by period ( 1 ) 2010 | payments due by period ( 1 ) 2011 | payments due by period ( 1 ) thereafter |
|---:|:------------------------------|:-------------------------------------|:------------------------------------|:------------------------------------|:------------------------------------|:------------------------------------|:------------------------------------|:------------------------------------------|
| 0 | long-term debt obligations | $ 4134 | $ 1340 | $ 198 | $ 4 | $ 534 | $ 607 | $ 1451 |
| 1 | lease obligations | 2328 | 351 | 281 | 209 | 178 | 158 | 1151 |
| 2 | purchase obligations | 1035 | 326 | 120 | 26 | 12 | 12 | 539 |
| 3 | total contractual obligations | $ 7497 | $ 2017 | $ 599 | $ 239 | $ 724 | $ 777 | $ 3141 |
|
53management's discussion and analysis of financial condition and results of operations in order to borrow funds under the 5-year credit facility , the company must be in compliance with various conditions , covenants and representations contained in the agreements .
the company was in compliance with the terms of the 5-year credit facility at december 31 , 2006 .
the company has never borrowed under its domestic revolving credit facilities .
utilization of the non-u.s .
credit facilities may also be dependent on the company's ability to meet certain conditions at the time a borrowing is requested .
contractual obligations , guarantees , and other purchase commitments contractual obligations summarized in the table below are the company's obligations and commitments to make future payments under debt obligations ( assuming earliest possible exercise of put rights by holders ) , lease payment obligations , and purchase obligations as of december 31 , 2006 .
payments due by period ( 1 ) ( in millions ) total 2007 2008 2009 2010 2011 thereafter ._| | ( in millions ) | payments due by period ( 1 ) total | payments due by period ( 1 ) 2007 | payments due by period ( 1 ) 2008 | payments due by period ( 1 ) 2009 | payments due by period ( 1 ) 2010 | payments due by period ( 1 ) 2011 | payments due by period ( 1 ) thereafter |
|---:|:------------------------------|:-------------------------------------|:------------------------------------|:------------------------------------|:------------------------------------|:------------------------------------|:------------------------------------|:------------------------------------------|
| 0 | long-term debt obligations | $ 4134 | $ 1340 | $ 198 | $ 4 | $ 534 | $ 607 | $ 1451 |
| 1 | lease obligations | 2328 | 351 | 281 | 209 | 178 | 158 | 1151 |
| 2 | purchase obligations | 1035 | 326 | 120 | 26 | 12 | 12 | 539 |
| 3 | total contractual obligations | $ 7497 | $ 2017 | $ 599 | $ 239 | $ 724 | $ 777 | $ 3141 |_( 1 ) amounts included represent firm , non-cancelable commitments .
debt obligations : at december 31 , 2006 , the company's long-term debt obligations , including current maturities and unamortized discount and issue costs , totaled $ 4.1 billion , as compared to $ 4.0 billion at december 31 , 2005 .
a table of all outstanding long-term debt securities can be found in note 4 , ""debt and credit facilities'' to the company's consolidated financial statements .
lease obligations : the company owns most of its major facilities , but does lease certain office , factory and warehouse space , land , and information technology and other equipment under principally non-cancelable operating leases .
at december 31 , 2006 , future minimum lease obligations , net of minimum sublease rentals , totaled $ 2.3 billion .
rental expense , net of sublease income , was $ 241 million in 2006 , $ 250 million in 2005 and $ 205 million in 2004 .
purchase obligations : the company has entered into agreements for the purchase of inventory , license of software , promotional agreements , and research and development agreements which are firm commitments and are not cancelable .
the longest of these agreements extends through 2015 .
total payments expected to be made under these agreements total $ 1.0 billion .
commitments under other long-term agreements : the company has entered into certain long-term agreements to purchase software , components , supplies and materials from suppliers .
most of the agreements extend for periods of one to three years ( three to five years for software ) .
however , generally these agreements do not obligate the company to make any purchases , and many permit the company to terminate the agreement with advance notice ( usually ranging from 60 to 180 days ) .
if the company were to terminate these agreements , it generally would be liable for certain termination charges , typically based on work performed and supplier on-hand inventory and raw materials attributable to canceled orders .
the company's liability would only arise in the event it terminates the agreements for reasons other than ""cause.'' the company also enters into a number of arrangements for the sourcing of supplies and materials with minimum purchase commitments and take-or-pay obligations .
the majority of the minimum purchase obligations under these contracts are over the life of the contract as opposed to a year-by-year take-or-pay .
if these agreements were terminated at december 31 , 2006 , the company's obligation would not have been significant .
the company does not anticipate the cancellation of any of these agreements in the future .
subsequent to the end of 2006 , the company entered into take-or-pay arrangements with suppliers through may 2009 with minimum purchase obligations of $ 2.2 billion during that period .
the company estimates purchases during that period that exceed the minimum obligations .
the company outsources certain corporate functions , such as benefit administration and information technology-related services .
these contracts are expected to expire in 2013 .
the total remaining payments under these contracts are approximately $ 1.3 billion over the remaining seven years ; however , these contracts can be %%transmsg*** transmitting job : c11830 pcn : 055000000 *** %%pcmsg| |00030|yes|no|02/28/2007 13:05|0|1|page is valid , no graphics -- color : n| .
| 2,006
| 61
|
MSI
|
Motorola Solutions
|
Information Technology
|
Communications Equipment
|
Chicago, Illinois
|
1957-03-04
| 68,505
|
1928 (2011)
|
what was the percent of the total long-term debt obligations that was due after 2011
|
35.1%
|
divide(1451, 4134)
|
53management's discussion and analysis of financial condition and results of operations in order to borrow funds under the 5-year credit facility , the company must be in compliance with various conditions , covenants and representations contained in the agreements .
the company was in compliance with the terms of the 5-year credit facility at december 31 , 2006 .
the company has never borrowed under its domestic revolving credit facilities .
utilization of the non-u.s .
credit facilities may also be dependent on the company's ability to meet certain conditions at the time a borrowing is requested .
contractual obligations , guarantees , and other purchase commitments contractual obligations summarized in the table below are the company's obligations and commitments to make future payments under debt obligations ( assuming earliest possible exercise of put rights by holders ) , lease payment obligations , and purchase obligations as of december 31 , 2006 .
payments due by period ( 1 ) ( in millions ) total 2007 2008 2009 2010 2011 thereafter .
|
( 1 ) amounts included represent firm , non-cancelable commitments .
debt obligations : at december 31 , 2006 , the company's long-term debt obligations , including current maturities and unamortized discount and issue costs , totaled $ 4.1 billion , as compared to $ 4.0 billion at december 31 , 2005 .
a table of all outstanding long-term debt securities can be found in note 4 , ""debt and credit facilities'' to the company's consolidated financial statements .
lease obligations : the company owns most of its major facilities , but does lease certain office , factory and warehouse space , land , and information technology and other equipment under principally non-cancelable operating leases .
at december 31 , 2006 , future minimum lease obligations , net of minimum sublease rentals , totaled $ 2.3 billion .
rental expense , net of sublease income , was $ 241 million in 2006 , $ 250 million in 2005 and $ 205 million in 2004 .
purchase obligations : the company has entered into agreements for the purchase of inventory , license of software , promotional agreements , and research and development agreements which are firm commitments and are not cancelable .
the longest of these agreements extends through 2015 .
total payments expected to be made under these agreements total $ 1.0 billion .
commitments under other long-term agreements : the company has entered into certain long-term agreements to purchase software , components , supplies and materials from suppliers .
most of the agreements extend for periods of one to three years ( three to five years for software ) .
however , generally these agreements do not obligate the company to make any purchases , and many permit the company to terminate the agreement with advance notice ( usually ranging from 60 to 180 days ) .
if the company were to terminate these agreements , it generally would be liable for certain termination charges , typically based on work performed and supplier on-hand inventory and raw materials attributable to canceled orders .
the company's liability would only arise in the event it terminates the agreements for reasons other than ""cause.'' the company also enters into a number of arrangements for the sourcing of supplies and materials with minimum purchase commitments and take-or-pay obligations .
the majority of the minimum purchase obligations under these contracts are over the life of the contract as opposed to a year-by-year take-or-pay .
if these agreements were terminated at december 31 , 2006 , the company's obligation would not have been significant .
the company does not anticipate the cancellation of any of these agreements in the future .
subsequent to the end of 2006 , the company entered into take-or-pay arrangements with suppliers through may 2009 with minimum purchase obligations of $ 2.2 billion during that period .
the company estimates purchases during that period that exceed the minimum obligations .
the company outsources certain corporate functions , such as benefit administration and information technology-related services .
these contracts are expected to expire in 2013 .
the total remaining payments under these contracts are approximately $ 1.3 billion over the remaining seven years ; however , these contracts can be %%transmsg*** transmitting job : c11830 pcn : 055000000 *** %%pcmsg| |00030|yes|no|02/28/2007 13:05|0|1|page is valid , no graphics -- color : n| .
|
| | ( in millions ) | payments due by period ( 1 ) total | payments due by period ( 1 ) 2007 | payments due by period ( 1 ) 2008 | payments due by period ( 1 ) 2009 | payments due by period ( 1 ) 2010 | payments due by period ( 1 ) 2011 | payments due by period ( 1 ) thereafter |
|---:|:------------------------------|:-------------------------------------|:------------------------------------|:------------------------------------|:------------------------------------|:------------------------------------|:------------------------------------|:------------------------------------------|
| 0 | long-term debt obligations | $ 4134 | $ 1340 | $ 198 | $ 4 | $ 534 | $ 607 | $ 1451 |
| 1 | lease obligations | 2328 | 351 | 281 | 209 | 178 | 158 | 1151 |
| 2 | purchase obligations | 1035 | 326 | 120 | 26 | 12 | 12 | 539 |
| 3 | total contractual obligations | $ 7497 | $ 2017 | $ 599 | $ 239 | $ 724 | $ 777 | $ 3141 |
|
53management's discussion and analysis of financial condition and results of operations in order to borrow funds under the 5-year credit facility , the company must be in compliance with various conditions , covenants and representations contained in the agreements .
the company was in compliance with the terms of the 5-year credit facility at december 31 , 2006 .
the company has never borrowed under its domestic revolving credit facilities .
utilization of the non-u.s .
credit facilities may also be dependent on the company's ability to meet certain conditions at the time a borrowing is requested .
contractual obligations , guarantees , and other purchase commitments contractual obligations summarized in the table below are the company's obligations and commitments to make future payments under debt obligations ( assuming earliest possible exercise of put rights by holders ) , lease payment obligations , and purchase obligations as of december 31 , 2006 .
payments due by period ( 1 ) ( in millions ) total 2007 2008 2009 2010 2011 thereafter ._| | ( in millions ) | payments due by period ( 1 ) total | payments due by period ( 1 ) 2007 | payments due by period ( 1 ) 2008 | payments due by period ( 1 ) 2009 | payments due by period ( 1 ) 2010 | payments due by period ( 1 ) 2011 | payments due by period ( 1 ) thereafter |
|---:|:------------------------------|:-------------------------------------|:------------------------------------|:------------------------------------|:------------------------------------|:------------------------------------|:------------------------------------|:------------------------------------------|
| 0 | long-term debt obligations | $ 4134 | $ 1340 | $ 198 | $ 4 | $ 534 | $ 607 | $ 1451 |
| 1 | lease obligations | 2328 | 351 | 281 | 209 | 178 | 158 | 1151 |
| 2 | purchase obligations | 1035 | 326 | 120 | 26 | 12 | 12 | 539 |
| 3 | total contractual obligations | $ 7497 | $ 2017 | $ 599 | $ 239 | $ 724 | $ 777 | $ 3141 |_( 1 ) amounts included represent firm , non-cancelable commitments .
debt obligations : at december 31 , 2006 , the company's long-term debt obligations , including current maturities and unamortized discount and issue costs , totaled $ 4.1 billion , as compared to $ 4.0 billion at december 31 , 2005 .
a table of all outstanding long-term debt securities can be found in note 4 , ""debt and credit facilities'' to the company's consolidated financial statements .
lease obligations : the company owns most of its major facilities , but does lease certain office , factory and warehouse space , land , and information technology and other equipment under principally non-cancelable operating leases .
at december 31 , 2006 , future minimum lease obligations , net of minimum sublease rentals , totaled $ 2.3 billion .
rental expense , net of sublease income , was $ 241 million in 2006 , $ 250 million in 2005 and $ 205 million in 2004 .
purchase obligations : the company has entered into agreements for the purchase of inventory , license of software , promotional agreements , and research and development agreements which are firm commitments and are not cancelable .
the longest of these agreements extends through 2015 .
total payments expected to be made under these agreements total $ 1.0 billion .
commitments under other long-term agreements : the company has entered into certain long-term agreements to purchase software , components , supplies and materials from suppliers .
most of the agreements extend for periods of one to three years ( three to five years for software ) .
however , generally these agreements do not obligate the company to make any purchases , and many permit the company to terminate the agreement with advance notice ( usually ranging from 60 to 180 days ) .
if the company were to terminate these agreements , it generally would be liable for certain termination charges , typically based on work performed and supplier on-hand inventory and raw materials attributable to canceled orders .
the company's liability would only arise in the event it terminates the agreements for reasons other than ""cause.'' the company also enters into a number of arrangements for the sourcing of supplies and materials with minimum purchase commitments and take-or-pay obligations .
the majority of the minimum purchase obligations under these contracts are over the life of the contract as opposed to a year-by-year take-or-pay .
if these agreements were terminated at december 31 , 2006 , the company's obligation would not have been significant .
the company does not anticipate the cancellation of any of these agreements in the future .
subsequent to the end of 2006 , the company entered into take-or-pay arrangements with suppliers through may 2009 with minimum purchase obligations of $ 2.2 billion during that period .
the company estimates purchases during that period that exceed the minimum obligations .
the company outsources certain corporate functions , such as benefit administration and information technology-related services .
these contracts are expected to expire in 2013 .
the total remaining payments under these contracts are approximately $ 1.3 billion over the remaining seven years ; however , these contracts can be %%transmsg*** transmitting job : c11830 pcn : 055000000 *** %%pcmsg| |00030|yes|no|02/28/2007 13:05|0|1|page is valid , no graphics -- color : n| .
| 2,006
| 61
|
MSI
|
Motorola Solutions
|
Information Technology
|
Communications Equipment
|
Chicago, Illinois
|
1957-03-04
| 68,505
|
1928 (2011)
| null | null |
finqa17
|
what is the decline from current future minimum lease payments and the following years expected obligation?\\n
|
25%
|
divide(subtract(1703, 1371), 1703)
|
abiomed , inc .
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 .
34 ( fin 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 .
under the provisions of fin no .
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 .
on may 15 , 2006 richard a .
nazarian , as selling stockholder representative , filed a demand for arbitration ( subsequently amended ) with the boston office of the american arbitration association .
|
| | fiscal year ending march 31, | operating leases |
|---:|:------------------------------------|:-------------------|
| 0 | 2007 | 1703 |
| 1 | 2008 | 1371 |
| 2 | 2009 | 1035 |
| 3 | 2010 | 710 |
| 4 | total future minimum lease payments | $ 4819 |
|
abiomed , inc .
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 .
34 ( fin 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 .
under the provisions of fin no .
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 ._| | fiscal year ending march 31, | operating leases |
|---:|:------------------------------------|:-------------------|
| 0 | 2007 | 1703 |
| 1 | 2008 | 1371 |
| 2 | 2009 | 1035 |
| 3 | 2010 | 710 |
| 4 | total future minimum lease payments | $ 4819 |_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 .
on may 15 , 2006 richard a .
nazarian , as selling stockholder representative , filed a demand for arbitration ( subsequently amended ) with the boston office of the american arbitration association .
| 2,006
| 75
|
ABMD
|
Abiomed, Inc.
|
Healthcare
|
Medical Devices
|
Danvers, MA
|
2018-01-01
| 815,094
|
1981
|
what is the decline from current future minimum lease payments and the following years expected obligation?\\n
|
25%
|
divide(subtract(1703, 1371), 1703)
|
abiomed , inc .
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 .
34 ( fin 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 .
under the provisions of fin no .
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 .
on may 15 , 2006 richard a .
nazarian , as selling stockholder representative , filed a demand for arbitration ( subsequently amended ) with the boston office of the american arbitration association .
|
| | fiscal year ending march 31, | operating leases |
|---:|:------------------------------------|:-------------------|
| 0 | 2007 | 1703 |
| 1 | 2008 | 1371 |
| 2 | 2009 | 1035 |
| 3 | 2010 | 710 |
| 4 | total future minimum lease payments | $ 4819 |
|
abiomed , inc .
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 .
34 ( fin 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 .
under the provisions of fin no .
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 ._| | fiscal year ending march 31, | operating leases |
|---:|:------------------------------------|:-------------------|
| 0 | 2007 | 1703 |
| 1 | 2008 | 1371 |
| 2 | 2009 | 1035 |
| 3 | 2010 | 710 |
| 4 | total future minimum lease payments | $ 4819 |_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 .
on may 15 , 2006 richard a .
nazarian , as selling stockholder representative , filed a demand for arbitration ( subsequently amended ) with the boston office of the american arbitration association .
| 2,006
| 75
|
ABMD
|
Abiomed, Inc.
|
Healthcare
|
Medical Devices
|
Danvers, MA
|
2018-01-01
| 815,094
|
1981
| null | null |
finqa18
|
what is the applied 2019s net sales in 2018 , ( in billions ) ?
|
7.22
|
divide(1.3, divide(18, const_100))
|
backlog applied manufactures systems to meet demand represented by order backlog and customer commitments .
backlog consists of : ( 1 ) orders for which written authorizations have been accepted and assigned shipment dates are within the next 12 months , or shipment has occurred but revenue has not been recognized ; and ( 2 ) contractual service revenue and maintenance fees to be earned within the next 12 months .
backlog by reportable segment as of october 27 , 2013 and october 28 , 2012 was as follows : 2013 2012 ( in millions , except percentages ) .
|
applied 2019s backlog on any particular date is not necessarily indicative of actual sales for any future periods , due to the potential for customer changes in delivery schedules or cancellation of orders .
customers may delay delivery of products or cancel orders prior to shipment , subject to possible cancellation penalties .
delays in delivery schedules and/or a reduction of backlog during any particular period could have a material adverse effect on applied 2019s business and results of operations .
manufacturing , raw materials and supplies applied 2019s manufacturing activities consist primarily of assembly , test and integration of various proprietary and commercial parts , components and subassemblies ( collectively , parts ) that are used to manufacture systems .
applied has implemented a distributed manufacturing model under which manufacturing and supply chain activities are conducted in various countries , including the united states , europe , israel , singapore , taiwan , and other countries in asia , and assembly of some systems is completed at customer sites .
applied uses numerous vendors , including contract manufacturers , to supply parts and assembly services for the manufacture and support of its products .
although applied makes reasonable efforts to assure that parts are available from multiple qualified suppliers , this is not always possible .
accordingly , some key parts may be obtained from only a single supplier or a limited group of suppliers .
applied seeks to reduce costs and to lower the risks of manufacturing and service interruptions by : ( 1 ) selecting and qualifying alternate suppliers for key parts ; ( 2 ) monitoring the financial condition of key suppliers ; ( 3 ) maintaining appropriate inventories of key parts ; ( 4 ) qualifying new parts on a timely basis ; and ( 5 ) locating certain manufacturing operations in close proximity to suppliers and customers .
research , development and engineering applied 2019s long-term growth strategy requires continued development of new products .
the company 2019s significant investment in research , development and engineering ( rd&e ) has generally enabled it to deliver new products and technologies before the emergence of strong demand , thus allowing customers to incorporate these products into their manufacturing plans at an early stage in the technology selection cycle .
applied works closely with its global customers to design systems and processes that meet their planned technical and production requirements .
product development and engineering organizations are located primarily in the united states , as well as in europe , israel , taiwan , and china .
in addition , applied outsources certain rd&e activities , some of which are performed outside the united states , primarily in india .
process support and customer demonstration laboratories are located in the united states , china , taiwan , europe , and israel .
applied 2019s investments in rd&e for product development and engineering programs to create or improve products and technologies over the last three years were as follows : $ 1.3 billion ( 18 percent of net sales ) in fiscal 2013 , $ 1.2 billion ( 14 percent of net sales ) in fiscal 2012 , and $ 1.1 billion ( 11 percent of net sales ) in fiscal 2011 .
applied has spent an average of 14 percent of net sales in rd&e over the last five years .
in addition to rd&e for specific product technologies , applied maintains ongoing programs for automation control systems , materials research , and environmental control that are applicable to its products. .
|
| | | 2013 | 2012 | | ( in millions except percentages ) |
|---:|:-----------------------------------|:-------|:---------------|:-------|:-------------------------------------|
| 0 | silicon systems group | $ 1295 | 55% ( 55 % ) | $ 705 | 44% ( 44 % ) |
| 1 | applied global services | 591 | 25% ( 25 % ) | 580 | 36% ( 36 % ) |
| 2 | display | 361 | 15% ( 15 % ) | 206 | 13% ( 13 % ) |
| 3 | energy and environmental solutions | 125 | 5% ( 5 % ) | 115 | 7% ( 7 % ) |
| 4 | total | $ 2372 | 100% ( 100 % ) | $ 1606 | 100% ( 100 % ) |
|
backlog applied manufactures systems to meet demand represented by order backlog and customer commitments .
backlog consists of : ( 1 ) orders for which written authorizations have been accepted and assigned shipment dates are within the next 12 months , or shipment has occurred but revenue has not been recognized ; and ( 2 ) contractual service revenue and maintenance fees to be earned within the next 12 months .
backlog by reportable segment as of october 27 , 2013 and october 28 , 2012 was as follows : 2013 2012 ( in millions , except percentages ) ._| | | 2013 | 2012 | | ( in millions except percentages ) |
|---:|:-----------------------------------|:-------|:---------------|:-------|:-------------------------------------|
| 0 | silicon systems group | $ 1295 | 55% ( 55 % ) | $ 705 | 44% ( 44 % ) |
| 1 | applied global services | 591 | 25% ( 25 % ) | 580 | 36% ( 36 % ) |
| 2 | display | 361 | 15% ( 15 % ) | 206 | 13% ( 13 % ) |
| 3 | energy and environmental solutions | 125 | 5% ( 5 % ) | 115 | 7% ( 7 % ) |
| 4 | total | $ 2372 | 100% ( 100 % ) | $ 1606 | 100% ( 100 % ) |_applied 2019s backlog on any particular date is not necessarily indicative of actual sales for any future periods , due to the potential for customer changes in delivery schedules or cancellation of orders .
customers may delay delivery of products or cancel orders prior to shipment , subject to possible cancellation penalties .
delays in delivery schedules and/or a reduction of backlog during any particular period could have a material adverse effect on applied 2019s business and results of operations .
manufacturing , raw materials and supplies applied 2019s manufacturing activities consist primarily of assembly , test and integration of various proprietary and commercial parts , components and subassemblies ( collectively , parts ) that are used to manufacture systems .
applied has implemented a distributed manufacturing model under which manufacturing and supply chain activities are conducted in various countries , including the united states , europe , israel , singapore , taiwan , and other countries in asia , and assembly of some systems is completed at customer sites .
applied uses numerous vendors , including contract manufacturers , to supply parts and assembly services for the manufacture and support of its products .
although applied makes reasonable efforts to assure that parts are available from multiple qualified suppliers , this is not always possible .
accordingly , some key parts may be obtained from only a single supplier or a limited group of suppliers .
applied seeks to reduce costs and to lower the risks of manufacturing and service interruptions by : ( 1 ) selecting and qualifying alternate suppliers for key parts ; ( 2 ) monitoring the financial condition of key suppliers ; ( 3 ) maintaining appropriate inventories of key parts ; ( 4 ) qualifying new parts on a timely basis ; and ( 5 ) locating certain manufacturing operations in close proximity to suppliers and customers .
research , development and engineering applied 2019s long-term growth strategy requires continued development of new products .
the company 2019s significant investment in research , development and engineering ( rd&e ) has generally enabled it to deliver new products and technologies before the emergence of strong demand , thus allowing customers to incorporate these products into their manufacturing plans at an early stage in the technology selection cycle .
applied works closely with its global customers to design systems and processes that meet their planned technical and production requirements .
product development and engineering organizations are located primarily in the united states , as well as in europe , israel , taiwan , and china .
in addition , applied outsources certain rd&e activities , some of which are performed outside the united states , primarily in india .
process support and customer demonstration laboratories are located in the united states , china , taiwan , europe , and israel .
applied 2019s investments in rd&e for product development and engineering programs to create or improve products and technologies over the last three years were as follows : $ 1.3 billion ( 18 percent of net sales ) in fiscal 2013 , $ 1.2 billion ( 14 percent of net sales ) in fiscal 2012 , and $ 1.1 billion ( 11 percent of net sales ) in fiscal 2011 .
applied has spent an average of 14 percent of net sales in rd&e over the last five years .
in addition to rd&e for specific product technologies , applied maintains ongoing programs for automation control systems , materials research , and environmental control that are applicable to its products. .
| 2,013
| 18
|
AMAT
|
Applied Materials
|
Information Technology
|
Semiconductor Materials & Equipment
|
Santa Clara, California
|
1995-03-16
| 6,951
|
1967
|
what is the applied 2019s net sales in 2018 , ( in billions ) ?
|
7.22
|
divide(1.3, divide(18, const_100))
|
backlog applied manufactures systems to meet demand represented by order backlog and customer commitments .
backlog consists of : ( 1 ) orders for which written authorizations have been accepted and assigned shipment dates are within the next 12 months , or shipment has occurred but revenue has not been recognized ; and ( 2 ) contractual service revenue and maintenance fees to be earned within the next 12 months .
backlog by reportable segment as of october 27 , 2013 and october 28 , 2012 was as follows : 2013 2012 ( in millions , except percentages ) .
|
applied 2019s backlog on any particular date is not necessarily indicative of actual sales for any future periods , due to the potential for customer changes in delivery schedules or cancellation of orders .
customers may delay delivery of products or cancel orders prior to shipment , subject to possible cancellation penalties .
delays in delivery schedules and/or a reduction of backlog during any particular period could have a material adverse effect on applied 2019s business and results of operations .
manufacturing , raw materials and supplies applied 2019s manufacturing activities consist primarily of assembly , test and integration of various proprietary and commercial parts , components and subassemblies ( collectively , parts ) that are used to manufacture systems .
applied has implemented a distributed manufacturing model under which manufacturing and supply chain activities are conducted in various countries , including the united states , europe , israel , singapore , taiwan , and other countries in asia , and assembly of some systems is completed at customer sites .
applied uses numerous vendors , including contract manufacturers , to supply parts and assembly services for the manufacture and support of its products .
although applied makes reasonable efforts to assure that parts are available from multiple qualified suppliers , this is not always possible .
accordingly , some key parts may be obtained from only a single supplier or a limited group of suppliers .
applied seeks to reduce costs and to lower the risks of manufacturing and service interruptions by : ( 1 ) selecting and qualifying alternate suppliers for key parts ; ( 2 ) monitoring the financial condition of key suppliers ; ( 3 ) maintaining appropriate inventories of key parts ; ( 4 ) qualifying new parts on a timely basis ; and ( 5 ) locating certain manufacturing operations in close proximity to suppliers and customers .
research , development and engineering applied 2019s long-term growth strategy requires continued development of new products .
the company 2019s significant investment in research , development and engineering ( rd&e ) has generally enabled it to deliver new products and technologies before the emergence of strong demand , thus allowing customers to incorporate these products into their manufacturing plans at an early stage in the technology selection cycle .
applied works closely with its global customers to design systems and processes that meet their planned technical and production requirements .
product development and engineering organizations are located primarily in the united states , as well as in europe , israel , taiwan , and china .
in addition , applied outsources certain rd&e activities , some of which are performed outside the united states , primarily in india .
process support and customer demonstration laboratories are located in the united states , china , taiwan , europe , and israel .
applied 2019s investments in rd&e for product development and engineering programs to create or improve products and technologies over the last three years were as follows : $ 1.3 billion ( 18 percent of net sales ) in fiscal 2013 , $ 1.2 billion ( 14 percent of net sales ) in fiscal 2012 , and $ 1.1 billion ( 11 percent of net sales ) in fiscal 2011 .
applied has spent an average of 14 percent of net sales in rd&e over the last five years .
in addition to rd&e for specific product technologies , applied maintains ongoing programs for automation control systems , materials research , and environmental control that are applicable to its products. .
|
| | | 2013 | 2012 | | ( in millions except percentages ) |
|---:|:-----------------------------------|:-------|:---------------|:-------|:-------------------------------------|
| 0 | silicon systems group | $ 1295 | 55% ( 55 % ) | $ 705 | 44% ( 44 % ) |
| 1 | applied global services | 591 | 25% ( 25 % ) | 580 | 36% ( 36 % ) |
| 2 | display | 361 | 15% ( 15 % ) | 206 | 13% ( 13 % ) |
| 3 | energy and environmental solutions | 125 | 5% ( 5 % ) | 115 | 7% ( 7 % ) |
| 4 | total | $ 2372 | 100% ( 100 % ) | $ 1606 | 100% ( 100 % ) |
|
backlog applied manufactures systems to meet demand represented by order backlog and customer commitments .
backlog consists of : ( 1 ) orders for which written authorizations have been accepted and assigned shipment dates are within the next 12 months , or shipment has occurred but revenue has not been recognized ; and ( 2 ) contractual service revenue and maintenance fees to be earned within the next 12 months .
backlog by reportable segment as of october 27 , 2013 and october 28 , 2012 was as follows : 2013 2012 ( in millions , except percentages ) ._| | | 2013 | 2012 | | ( in millions except percentages ) |
|---:|:-----------------------------------|:-------|:---------------|:-------|:-------------------------------------|
| 0 | silicon systems group | $ 1295 | 55% ( 55 % ) | $ 705 | 44% ( 44 % ) |
| 1 | applied global services | 591 | 25% ( 25 % ) | 580 | 36% ( 36 % ) |
| 2 | display | 361 | 15% ( 15 % ) | 206 | 13% ( 13 % ) |
| 3 | energy and environmental solutions | 125 | 5% ( 5 % ) | 115 | 7% ( 7 % ) |
| 4 | total | $ 2372 | 100% ( 100 % ) | $ 1606 | 100% ( 100 % ) |_applied 2019s backlog on any particular date is not necessarily indicative of actual sales for any future periods , due to the potential for customer changes in delivery schedules or cancellation of orders .
customers may delay delivery of products or cancel orders prior to shipment , subject to possible cancellation penalties .
delays in delivery schedules and/or a reduction of backlog during any particular period could have a material adverse effect on applied 2019s business and results of operations .
manufacturing , raw materials and supplies applied 2019s manufacturing activities consist primarily of assembly , test and integration of various proprietary and commercial parts , components and subassemblies ( collectively , parts ) that are used to manufacture systems .
applied has implemented a distributed manufacturing model under which manufacturing and supply chain activities are conducted in various countries , including the united states , europe , israel , singapore , taiwan , and other countries in asia , and assembly of some systems is completed at customer sites .
applied uses numerous vendors , including contract manufacturers , to supply parts and assembly services for the manufacture and support of its products .
although applied makes reasonable efforts to assure that parts are available from multiple qualified suppliers , this is not always possible .
accordingly , some key parts may be obtained from only a single supplier or a limited group of suppliers .
applied seeks to reduce costs and to lower the risks of manufacturing and service interruptions by : ( 1 ) selecting and qualifying alternate suppliers for key parts ; ( 2 ) monitoring the financial condition of key suppliers ; ( 3 ) maintaining appropriate inventories of key parts ; ( 4 ) qualifying new parts on a timely basis ; and ( 5 ) locating certain manufacturing operations in close proximity to suppliers and customers .
research , development and engineering applied 2019s long-term growth strategy requires continued development of new products .
the company 2019s significant investment in research , development and engineering ( rd&e ) has generally enabled it to deliver new products and technologies before the emergence of strong demand , thus allowing customers to incorporate these products into their manufacturing plans at an early stage in the technology selection cycle .
applied works closely with its global customers to design systems and processes that meet their planned technical and production requirements .
product development and engineering organizations are located primarily in the united states , as well as in europe , israel , taiwan , and china .
in addition , applied outsources certain rd&e activities , some of which are performed outside the united states , primarily in india .
process support and customer demonstration laboratories are located in the united states , china , taiwan , europe , and israel .
applied 2019s investments in rd&e for product development and engineering programs to create or improve products and technologies over the last three years were as follows : $ 1.3 billion ( 18 percent of net sales ) in fiscal 2013 , $ 1.2 billion ( 14 percent of net sales ) in fiscal 2012 , and $ 1.1 billion ( 11 percent of net sales ) in fiscal 2011 .
applied has spent an average of 14 percent of net sales in rd&e over the last five years .
in addition to rd&e for specific product technologies , applied maintains ongoing programs for automation control systems , materials research , and environmental control that are applicable to its products. .
| 2,013
| 18
|
AMAT
|
Applied Materials
|
Information Technology
|
Semiconductor Materials & Equipment
|
Santa Clara, California
|
1995-03-16
| 6,951
|
1967
| null | null |
finqa19
|
what is the average amortization amount , in millions , from 2015-2019?
|
44.8
|
divide(add(multiply(45, const_4), 44), const_5)
|
devon energy corporation and subsidiaries notes to consolidated financial statements 2013 ( continued ) asset divestitures in conjunction with the asset divestitures in 2013 and 2014 , devon removed $ 26 million and $ 706 million of goodwill , respectively , which were allocated to these assets .
impairment devon 2019s canadian goodwill was originally recognized in 2001 as a result of a business combination consisting almost entirely of conventional gas assets that devon no longer owns .
as a result of performing the goodwill impairment test described in note 1 , devon concluded the implied fair value of its canadian goodwill was zero as of december 31 , 2014 .
this conclusion was largely based on the significant decline in benchmark oil prices , particularly after opec 2019s decision not to reduce its production targets that was announced in late november 2014 .
consequently , in the fourth quarter of 2014 , devon wrote off its remaining canadian goodwill and recognized a $ 1.9 billion impairment .
other intangible assets as of december 31 , 2014 , intangible assets associated with customer relationships had a gross carrying amount of $ 569 million and $ 36 million of accumulated amortization .
the weighted-average amortization period for the customer relationships is 13.7 years .
amortization expense for intangibles was approximately $ 36 million for the year ended december 31 , 2014 .
other intangible assets are reported in other long-term assets in the accompanying consolidated balance sheets .
the following table summarizes the estimated aggregate amortization expense for the next five years .
year amortization amount ( in millions ) .
|
.
|
| | year | amortization amount ( in millions ) |
|---:|-------:|:--------------------------------------|
| 0 | 2015 | $ 45 |
| 1 | 2016 | $ 45 |
| 2 | 2017 | $ 45 |
| 3 | 2018 | $ 45 |
| 4 | 2019 | $ 44 |
|
devon energy corporation and subsidiaries notes to consolidated financial statements 2013 ( continued ) asset divestitures in conjunction with the asset divestitures in 2013 and 2014 , devon removed $ 26 million and $ 706 million of goodwill , respectively , which were allocated to these assets .
impairment devon 2019s canadian goodwill was originally recognized in 2001 as a result of a business combination consisting almost entirely of conventional gas assets that devon no longer owns .
as a result of performing the goodwill impairment test described in note 1 , devon concluded the implied fair value of its canadian goodwill was zero as of december 31 , 2014 .
this conclusion was largely based on the significant decline in benchmark oil prices , particularly after opec 2019s decision not to reduce its production targets that was announced in late november 2014 .
consequently , in the fourth quarter of 2014 , devon wrote off its remaining canadian goodwill and recognized a $ 1.9 billion impairment .
other intangible assets as of december 31 , 2014 , intangible assets associated with customer relationships had a gross carrying amount of $ 569 million and $ 36 million of accumulated amortization .
the weighted-average amortization period for the customer relationships is 13.7 years .
amortization expense for intangibles was approximately $ 36 million for the year ended december 31 , 2014 .
other intangible assets are reported in other long-term assets in the accompanying consolidated balance sheets .
the following table summarizes the estimated aggregate amortization expense for the next five years .
year amortization amount ( in millions ) ._| | year | amortization amount ( in millions ) |
|---:|-------:|:--------------------------------------|
| 0 | 2015 | $ 45 |
| 1 | 2016 | $ 45 |
| 2 | 2017 | $ 45 |
| 3 | 2018 | $ 45 |
| 4 | 2019 | $ 44 |_.
| 2,014
| 85
|
DVN
|
Devon Energy
|
Energy
|
Oil & Gas Exploration & Production
|
Oklahoma City, Oklahoma
|
2000-08-30
| 1,090,012
|
1971
|
what is the average amortization amount , in millions , from 2015-2019?
|
44.8
|
divide(add(multiply(45, const_4), 44), const_5)
|
devon energy corporation and subsidiaries notes to consolidated financial statements 2013 ( continued ) asset divestitures in conjunction with the asset divestitures in 2013 and 2014 , devon removed $ 26 million and $ 706 million of goodwill , respectively , which were allocated to these assets .
impairment devon 2019s canadian goodwill was originally recognized in 2001 as a result of a business combination consisting almost entirely of conventional gas assets that devon no longer owns .
as a result of performing the goodwill impairment test described in note 1 , devon concluded the implied fair value of its canadian goodwill was zero as of december 31 , 2014 .
this conclusion was largely based on the significant decline in benchmark oil prices , particularly after opec 2019s decision not to reduce its production targets that was announced in late november 2014 .
consequently , in the fourth quarter of 2014 , devon wrote off its remaining canadian goodwill and recognized a $ 1.9 billion impairment .
other intangible assets as of december 31 , 2014 , intangible assets associated with customer relationships had a gross carrying amount of $ 569 million and $ 36 million of accumulated amortization .
the weighted-average amortization period for the customer relationships is 13.7 years .
amortization expense for intangibles was approximately $ 36 million for the year ended december 31 , 2014 .
other intangible assets are reported in other long-term assets in the accompanying consolidated balance sheets .
the following table summarizes the estimated aggregate amortization expense for the next five years .
year amortization amount ( in millions ) .
|
.
|
| | year | amortization amount ( in millions ) |
|---:|-------:|:--------------------------------------|
| 0 | 2015 | $ 45 |
| 1 | 2016 | $ 45 |
| 2 | 2017 | $ 45 |
| 3 | 2018 | $ 45 |
| 4 | 2019 | $ 44 |
|
devon energy corporation and subsidiaries notes to consolidated financial statements 2013 ( continued ) asset divestitures in conjunction with the asset divestitures in 2013 and 2014 , devon removed $ 26 million and $ 706 million of goodwill , respectively , which were allocated to these assets .
impairment devon 2019s canadian goodwill was originally recognized in 2001 as a result of a business combination consisting almost entirely of conventional gas assets that devon no longer owns .
as a result of performing the goodwill impairment test described in note 1 , devon concluded the implied fair value of its canadian goodwill was zero as of december 31 , 2014 .
this conclusion was largely based on the significant decline in benchmark oil prices , particularly after opec 2019s decision not to reduce its production targets that was announced in late november 2014 .
consequently , in the fourth quarter of 2014 , devon wrote off its remaining canadian goodwill and recognized a $ 1.9 billion impairment .
other intangible assets as of december 31 , 2014 , intangible assets associated with customer relationships had a gross carrying amount of $ 569 million and $ 36 million of accumulated amortization .
the weighted-average amortization period for the customer relationships is 13.7 years .
amortization expense for intangibles was approximately $ 36 million for the year ended december 31 , 2014 .
other intangible assets are reported in other long-term assets in the accompanying consolidated balance sheets .
the following table summarizes the estimated aggregate amortization expense for the next five years .
year amortization amount ( in millions ) ._| | year | amortization amount ( in millions ) |
|---:|-------:|:--------------------------------------|
| 0 | 2015 | $ 45 |
| 1 | 2016 | $ 45 |
| 2 | 2017 | $ 45 |
| 3 | 2018 | $ 45 |
| 4 | 2019 | $ 44 |_.
| 2,014
| 85
|
DVN
|
Devon Energy
|
Energy
|
Oil & Gas Exploration & Production
|
Oklahoma City, Oklahoma
|
2000-08-30
| 1,090,012
|
1971
| null | null |
finqa20
|
what was the ratio of the pension trust assets for 2017 to 2018
|
1.16
|
divide(480, 415)
|
72 s&p global 2018 annual report .
|
for securities that are quoted in active markets , the trustee/ custodian determines fair value by applying securities 2019 prices obtained from its pricing vendors .
for commingled funds that are not actively traded , the trustee applies pricing information provided by investment management firms to the unit quantities of such funds .
investment management firms employ their own pricing vendors to value the securities underlying each commingled fund .
underlying securities that are not actively traded derive their prices from investment managers , which in turn , employ vendors that use pricing models ( e.g. , discounted cash flow , comparables ) .
the domestic defined benefit plans have no investment in our stock , except through the s&p 500 commingled trust index fund .
the trustee obtains estimated prices from vendors for securities that are not easily quotable and they are categorized accordingly as level 3 .
the following table details further information on our plan assets where we have used significant unobservable inputs ( level 3 ) : pension trusts 2019 asset allocations there are two pension trusts , one in the u.s .
and one in the u.k .
2022 the u.s .
pension trust had assets of $ 1572 million and $ 1739 million as of december 31 , 2018 and 2017 respectively , and the target allocations in 2018 include 75% ( 75 % ) fixed income , 16% ( 16 % ) domestic equities and 9% ( 9 % ) international equities .
2022 the u.k .
pension trust had assets of $ 415 million and $ 480 million as of december 31 , 2018 and 2017 , respectively , and the target allocations in 2018 include 40% ( 40 % ) fixed income , 30% ( 30 % ) diversified growth funds , 20% ( 20 % ) equities and 10% ( 10 % ) real estate .
the pension assets are invested with the goal of producing a combination of capital growth , income and a liability hedge .
the mix of assets is established after consideration of the long- term performance and risk characteristics of asset classes .
investments are selected based on their potential to enhance returns , preserve capital and reduce overall volatility .
holdings are diversified within each asset class .
the portfolios employ a mix of index and actively managed equity strategies by market capitalization , style , geographic regions and economic sectors .
the fixed income strategies include u.s .
long duration securities , opportunistic fixed income securities and u.k .
debt instruments .
the short-term portfolio , whose primary goal is capital preservation for liquidity purposes , is composed of government and government-agency securities , uninvested cash , receivables and payables .
the portfolios do not employ any financial leverage .
u.s .
defined contribution plan assets of the defined contribution plan in the u.s .
consist primarily of investment options , which include actively managed equity , indexed equity , actively managed equity/bond funds , target date funds , s&p global inc .
common stock , stable value and money market strategies .
there is also a self-directed mutual fund investment option .
the plan purchased 193051 shares and sold 205798 shares of s&p global inc .
common stock in 2018 and purchased 228248 shares and sold 297750 shares of s&p global inc .
common stock in 2017 .
the plan held approximately 1.5 million shares of s&p global inc .
common stock as of december 31 , 2018 and 2017 , with market values of $ 251 million and $ 255 million , respectively .
the plan received dividends on s&p global inc .
common stock of $ 3 million during both the years ended december 31 , 2018 and december 31 , 2017 .
8 .
stock-based compensation we issue stock-based incentive awards to our eligible employees and directors under the 2002 employee stock incentive plan and a director deferred stock ownership plan .
2022 2002 employee stock incentive plan ( the 201c2002 plan 201d ) 2013 the 2002 plan permits the granting of nonqualified stock options , stock appreciation rights , performance stock , restricted stock and other stock-based awards .
in 2018 , we made a one-time issuance of incentive stock options under the 2002 plan to replace kensho employees 2019 stock options that were assumed in connection with our acquisition of kensho in april of 2018 .
2022 director deferred stock ownership plan 2013 under this plan , common stock reserved may be credited to deferred stock accounts for eligible directors .
in general , the plan requires that 50% ( 50 % ) of eligible directors 2019 annual compensation plus dividend equivalents be credited to deferred stock accounts .
each director may also elect to defer all or a portion of the remaining compensation and have an equivalent number of shares credited to the deferred stock account .
recipients under this plan are not required to provide consideration to us other than rendering service .
shares will be delivered as of the date a recipient ceases to be a member of the board of directors or within five years thereafter , if so elected .
the plan will remain in effect until terminated by the board of directors or until no shares of stock remain available under the plan. .
|
| | ( in millions ) | level 3 |
|---:|:-------------------------------|:----------|
| 0 | balance as of december 31 2017 | $ 39 |
| 1 | purchases | 2014 |
| 2 | distributions | -2 ( 2 ) |
| 3 | gain ( loss ) | 2 |
| 4 | balance as of december 31 2018 | $ 39 |
|
72 s&p global 2018 annual report ._| | ( in millions ) | level 3 |
|---:|:-------------------------------|:----------|
| 0 | balance as of december 31 2017 | $ 39 |
| 1 | purchases | 2014 |
| 2 | distributions | -2 ( 2 ) |
| 3 | gain ( loss ) | 2 |
| 4 | balance as of december 31 2018 | $ 39 |_for securities that are quoted in active markets , the trustee/ custodian determines fair value by applying securities 2019 prices obtained from its pricing vendors .
for commingled funds that are not actively traded , the trustee applies pricing information provided by investment management firms to the unit quantities of such funds .
investment management firms employ their own pricing vendors to value the securities underlying each commingled fund .
underlying securities that are not actively traded derive their prices from investment managers , which in turn , employ vendors that use pricing models ( e.g. , discounted cash flow , comparables ) .
the domestic defined benefit plans have no investment in our stock , except through the s&p 500 commingled trust index fund .
the trustee obtains estimated prices from vendors for securities that are not easily quotable and they are categorized accordingly as level 3 .
the following table details further information on our plan assets where we have used significant unobservable inputs ( level 3 ) : pension trusts 2019 asset allocations there are two pension trusts , one in the u.s .
and one in the u.k .
2022 the u.s .
pension trust had assets of $ 1572 million and $ 1739 million as of december 31 , 2018 and 2017 respectively , and the target allocations in 2018 include 75% ( 75 % ) fixed income , 16% ( 16 % ) domestic equities and 9% ( 9 % ) international equities .
2022 the u.k .
pension trust had assets of $ 415 million and $ 480 million as of december 31 , 2018 and 2017 , respectively , and the target allocations in 2018 include 40% ( 40 % ) fixed income , 30% ( 30 % ) diversified growth funds , 20% ( 20 % ) equities and 10% ( 10 % ) real estate .
the pension assets are invested with the goal of producing a combination of capital growth , income and a liability hedge .
the mix of assets is established after consideration of the long- term performance and risk characteristics of asset classes .
investments are selected based on their potential to enhance returns , preserve capital and reduce overall volatility .
holdings are diversified within each asset class .
the portfolios employ a mix of index and actively managed equity strategies by market capitalization , style , geographic regions and economic sectors .
the fixed income strategies include u.s .
long duration securities , opportunistic fixed income securities and u.k .
debt instruments .
the short-term portfolio , whose primary goal is capital preservation for liquidity purposes , is composed of government and government-agency securities , uninvested cash , receivables and payables .
the portfolios do not employ any financial leverage .
u.s .
defined contribution plan assets of the defined contribution plan in the u.s .
consist primarily of investment options , which include actively managed equity , indexed equity , actively managed equity/bond funds , target date funds , s&p global inc .
common stock , stable value and money market strategies .
there is also a self-directed mutual fund investment option .
the plan purchased 193051 shares and sold 205798 shares of s&p global inc .
common stock in 2018 and purchased 228248 shares and sold 297750 shares of s&p global inc .
common stock in 2017 .
the plan held approximately 1.5 million shares of s&p global inc .
common stock as of december 31 , 2018 and 2017 , with market values of $ 251 million and $ 255 million , respectively .
the plan received dividends on s&p global inc .
common stock of $ 3 million during both the years ended december 31 , 2018 and december 31 , 2017 .
8 .
stock-based compensation we issue stock-based incentive awards to our eligible employees and directors under the 2002 employee stock incentive plan and a director deferred stock ownership plan .
2022 2002 employee stock incentive plan ( the 201c2002 plan 201d ) 2013 the 2002 plan permits the granting of nonqualified stock options , stock appreciation rights , performance stock , restricted stock and other stock-based awards .
in 2018 , we made a one-time issuance of incentive stock options under the 2002 plan to replace kensho employees 2019 stock options that were assumed in connection with our acquisition of kensho in april of 2018 .
2022 director deferred stock ownership plan 2013 under this plan , common stock reserved may be credited to deferred stock accounts for eligible directors .
in general , the plan requires that 50% ( 50 % ) of eligible directors 2019 annual compensation plus dividend equivalents be credited to deferred stock accounts .
each director may also elect to defer all or a portion of the remaining compensation and have an equivalent number of shares credited to the deferred stock account .
recipients under this plan are not required to provide consideration to us other than rendering service .
shares will be delivered as of the date a recipient ceases to be a member of the board of directors or within five years thereafter , if so elected .
the plan will remain in effect until terminated by the board of directors or until no shares of stock remain available under the plan. .
| 2,018
| 74
|
SPGI
|
S&P Global
|
Financials
|
Financial Exchanges & Data
|
New York City, New York
|
1957-03-04
| 64,040
|
1917
|
what was the ratio of the pension trust assets for 2017 to 2018
|
1.16
|
divide(480, 415)
|
72 s&p global 2018 annual report .
|
for securities that are quoted in active markets , the trustee/ custodian determines fair value by applying securities 2019 prices obtained from its pricing vendors .
for commingled funds that are not actively traded , the trustee applies pricing information provided by investment management firms to the unit quantities of such funds .
investment management firms employ their own pricing vendors to value the securities underlying each commingled fund .
underlying securities that are not actively traded derive their prices from investment managers , which in turn , employ vendors that use pricing models ( e.g. , discounted cash flow , comparables ) .
the domestic defined benefit plans have no investment in our stock , except through the s&p 500 commingled trust index fund .
the trustee obtains estimated prices from vendors for securities that are not easily quotable and they are categorized accordingly as level 3 .
the following table details further information on our plan assets where we have used significant unobservable inputs ( level 3 ) : pension trusts 2019 asset allocations there are two pension trusts , one in the u.s .
and one in the u.k .
2022 the u.s .
pension trust had assets of $ 1572 million and $ 1739 million as of december 31 , 2018 and 2017 respectively , and the target allocations in 2018 include 75% ( 75 % ) fixed income , 16% ( 16 % ) domestic equities and 9% ( 9 % ) international equities .
2022 the u.k .
pension trust had assets of $ 415 million and $ 480 million as of december 31 , 2018 and 2017 , respectively , and the target allocations in 2018 include 40% ( 40 % ) fixed income , 30% ( 30 % ) diversified growth funds , 20% ( 20 % ) equities and 10% ( 10 % ) real estate .
the pension assets are invested with the goal of producing a combination of capital growth , income and a liability hedge .
the mix of assets is established after consideration of the long- term performance and risk characteristics of asset classes .
investments are selected based on their potential to enhance returns , preserve capital and reduce overall volatility .
holdings are diversified within each asset class .
the portfolios employ a mix of index and actively managed equity strategies by market capitalization , style , geographic regions and economic sectors .
the fixed income strategies include u.s .
long duration securities , opportunistic fixed income securities and u.k .
debt instruments .
the short-term portfolio , whose primary goal is capital preservation for liquidity purposes , is composed of government and government-agency securities , uninvested cash , receivables and payables .
the portfolios do not employ any financial leverage .
u.s .
defined contribution plan assets of the defined contribution plan in the u.s .
consist primarily of investment options , which include actively managed equity , indexed equity , actively managed equity/bond funds , target date funds , s&p global inc .
common stock , stable value and money market strategies .
there is also a self-directed mutual fund investment option .
the plan purchased 193051 shares and sold 205798 shares of s&p global inc .
common stock in 2018 and purchased 228248 shares and sold 297750 shares of s&p global inc .
common stock in 2017 .
the plan held approximately 1.5 million shares of s&p global inc .
common stock as of december 31 , 2018 and 2017 , with market values of $ 251 million and $ 255 million , respectively .
the plan received dividends on s&p global inc .
common stock of $ 3 million during both the years ended december 31 , 2018 and december 31 , 2017 .
8 .
stock-based compensation we issue stock-based incentive awards to our eligible employees and directors under the 2002 employee stock incentive plan and a director deferred stock ownership plan .
2022 2002 employee stock incentive plan ( the 201c2002 plan 201d ) 2013 the 2002 plan permits the granting of nonqualified stock options , stock appreciation rights , performance stock , restricted stock and other stock-based awards .
in 2018 , we made a one-time issuance of incentive stock options under the 2002 plan to replace kensho employees 2019 stock options that were assumed in connection with our acquisition of kensho in april of 2018 .
2022 director deferred stock ownership plan 2013 under this plan , common stock reserved may be credited to deferred stock accounts for eligible directors .
in general , the plan requires that 50% ( 50 % ) of eligible directors 2019 annual compensation plus dividend equivalents be credited to deferred stock accounts .
each director may also elect to defer all or a portion of the remaining compensation and have an equivalent number of shares credited to the deferred stock account .
recipients under this plan are not required to provide consideration to us other than rendering service .
shares will be delivered as of the date a recipient ceases to be a member of the board of directors or within five years thereafter , if so elected .
the plan will remain in effect until terminated by the board of directors or until no shares of stock remain available under the plan. .
|
| | ( in millions ) | level 3 |
|---:|:-------------------------------|:----------|
| 0 | balance as of december 31 2017 | $ 39 |
| 1 | purchases | 2014 |
| 2 | distributions | -2 ( 2 ) |
| 3 | gain ( loss ) | 2 |
| 4 | balance as of december 31 2018 | $ 39 |
|
72 s&p global 2018 annual report ._| | ( in millions ) | level 3 |
|---:|:-------------------------------|:----------|
| 0 | balance as of december 31 2017 | $ 39 |
| 1 | purchases | 2014 |
| 2 | distributions | -2 ( 2 ) |
| 3 | gain ( loss ) | 2 |
| 4 | balance as of december 31 2018 | $ 39 |_for securities that are quoted in active markets , the trustee/ custodian determines fair value by applying securities 2019 prices obtained from its pricing vendors .
for commingled funds that are not actively traded , the trustee applies pricing information provided by investment management firms to the unit quantities of such funds .
investment management firms employ their own pricing vendors to value the securities underlying each commingled fund .
underlying securities that are not actively traded derive their prices from investment managers , which in turn , employ vendors that use pricing models ( e.g. , discounted cash flow , comparables ) .
the domestic defined benefit plans have no investment in our stock , except through the s&p 500 commingled trust index fund .
the trustee obtains estimated prices from vendors for securities that are not easily quotable and they are categorized accordingly as level 3 .
the following table details further information on our plan assets where we have used significant unobservable inputs ( level 3 ) : pension trusts 2019 asset allocations there are two pension trusts , one in the u.s .
and one in the u.k .
2022 the u.s .
pension trust had assets of $ 1572 million and $ 1739 million as of december 31 , 2018 and 2017 respectively , and the target allocations in 2018 include 75% ( 75 % ) fixed income , 16% ( 16 % ) domestic equities and 9% ( 9 % ) international equities .
2022 the u.k .
pension trust had assets of $ 415 million and $ 480 million as of december 31 , 2018 and 2017 , respectively , and the target allocations in 2018 include 40% ( 40 % ) fixed income , 30% ( 30 % ) diversified growth funds , 20% ( 20 % ) equities and 10% ( 10 % ) real estate .
the pension assets are invested with the goal of producing a combination of capital growth , income and a liability hedge .
the mix of assets is established after consideration of the long- term performance and risk characteristics of asset classes .
investments are selected based on their potential to enhance returns , preserve capital and reduce overall volatility .
holdings are diversified within each asset class .
the portfolios employ a mix of index and actively managed equity strategies by market capitalization , style , geographic regions and economic sectors .
the fixed income strategies include u.s .
long duration securities , opportunistic fixed income securities and u.k .
debt instruments .
the short-term portfolio , whose primary goal is capital preservation for liquidity purposes , is composed of government and government-agency securities , uninvested cash , receivables and payables .
the portfolios do not employ any financial leverage .
u.s .
defined contribution plan assets of the defined contribution plan in the u.s .
consist primarily of investment options , which include actively managed equity , indexed equity , actively managed equity/bond funds , target date funds , s&p global inc .
common stock , stable value and money market strategies .
there is also a self-directed mutual fund investment option .
the plan purchased 193051 shares and sold 205798 shares of s&p global inc .
common stock in 2018 and purchased 228248 shares and sold 297750 shares of s&p global inc .
common stock in 2017 .
the plan held approximately 1.5 million shares of s&p global inc .
common stock as of december 31 , 2018 and 2017 , with market values of $ 251 million and $ 255 million , respectively .
the plan received dividends on s&p global inc .
common stock of $ 3 million during both the years ended december 31 , 2018 and december 31 , 2017 .
8 .
stock-based compensation we issue stock-based incentive awards to our eligible employees and directors under the 2002 employee stock incentive plan and a director deferred stock ownership plan .
2022 2002 employee stock incentive plan ( the 201c2002 plan 201d ) 2013 the 2002 plan permits the granting of nonqualified stock options , stock appreciation rights , performance stock , restricted stock and other stock-based awards .
in 2018 , we made a one-time issuance of incentive stock options under the 2002 plan to replace kensho employees 2019 stock options that were assumed in connection with our acquisition of kensho in april of 2018 .
2022 director deferred stock ownership plan 2013 under this plan , common stock reserved may be credited to deferred stock accounts for eligible directors .
in general , the plan requires that 50% ( 50 % ) of eligible directors 2019 annual compensation plus dividend equivalents be credited to deferred stock accounts .
each director may also elect to defer all or a portion of the remaining compensation and have an equivalent number of shares credited to the deferred stock account .
recipients under this plan are not required to provide consideration to us other than rendering service .
shares will be delivered as of the date a recipient ceases to be a member of the board of directors or within five years thereafter , if so elected .
the plan will remain in effect until terminated by the board of directors or until no shares of stock remain available under the plan. .
| 2,018
| 74
|
SPGI
|
S&P Global
|
Financials
|
Financial Exchanges & Data
|
New York City, New York
|
1957-03-04
| 64,040
|
1917
| null | null |
finqa21
|
what percent of inventory is ready for liquidation ( sale ) in 2003?
|
72.83%
|
divide(384.3, 527.7)
|
z i m m e r h o l d i n g s , i n c .
a n d s u b s i d i a r i e s 2 0 0 3 f o r m 1 0 - k notes to consolidated financial statements ( continued ) the unaudited pro forma results for 2003 include events or changes in circumstances indicate that the carrying $ 90.4 million of expense related to centerpulse hip and knee value of an asset may not be recoverable .
an impairment loss litigation , $ 54.4 million of cash income tax benefits as a result would be recognized when estimated future cash flows of centerpulse electing to carry back its 2002 u.s .
federal net relating to the asset are less than its carrying amount .
operating loss for 5 years versus 10 years , which resulted in depreciation of instruments is recognized as selling , general more losses being carried forward to future years and less and administrative expense , consistent with the classification tax credits going unutilized due to the shorter carry back of instrument cost in periods prior to january 1 , 2003 .
period and an $ 8.0 million gain on sale of orquest inc. , an prior to january 1 , 2003 , undeployed instruments were investment previously held by centerpulse .
the unaudited carried as a prepaid expense at cost , net of allowances for pro forma results are not necessarily indicative either of the obsolescence ( $ 54.8 million , net , at december 31 , 2002 ) , and results of operations that actually would have resulted had recognized in selling , general and administrative expense in the exchange offers been in effect at the beginning of the the year in which the instruments were placed into service .
respective years or of future results .
the new method of accounting for instruments was adopted to recognize the cost of these important assets of the transfx company 2019s business within the consolidated balance sheet on june 25 , 2003 , the company acquired the transfx and meaningfully allocate the cost of these assets over the external fixation system product line from immedica , inc .
periods benefited , typically five years .
for approximately $ 14.8 million cash , which has been the effect of the change during the year ended allocated primarily to goodwill and technology based december 31 , 2003 was to increase earnings before intangible assets .
the company has sold the transfx cumulative effect of change in accounting principle by product line since early 2001 under a distribution agreement $ 26.8 million ( $ 17.8 million net of tax ) , or $ 0.08 per diluted with immedica .
share .
the cumulative effect adjustment of $ 55.1 million ( net of income taxes of $ 34.0 million ) to retroactively apply the implex corp .
new capitalization method as if applied in years prior to 2003 on march 2 , 2004 , the company entered into an is included in earnings during the year ended december 31 , amended and restated merger agreement relating to the 2003 .
the pro forma amounts shown on the consolidated acquisition of implex corp .
( 2018 2018implex 2019 2019 ) , a privately held statement of earnings have been adjusted for the effect of orthopaedics company based in new jersey , for cash .
each the retroactive application on depreciation and related share of implex stock will be converted into the right to income taxes .
receive cash having an aggregate value of approximately $ 108.0 million at closing and additional cash earn-out 5 .
inventories payments that are contingent on the growth of implex inventories at december 31 , 2003 and 2002 , consist of product sales through 2006 .
the net value transferred at the following ( in millions ) : closing will be approximately $ 89 million , which includes .
|
made by zimmer to implex pursuant to their existing alliance raw materials and work in progress 90.8 50.9 arrangement , escrow and other items .
the acquisition will be inventory step-up 52.6 2013 accounted for under the purchase method of accounting .
inventories , net $ 527.7 $ 257.6 reserves for obsolete and slow-moving inventory at4 .
change in accounting principle december 31 , 2003 and 2002 were $ 47.4 million and instruments are hand held devices used by orthopaedic $ 45.5 million , respectively .
provisions charged to expense surgeons during total joint replacement and other surgical were $ 11.6 million , $ 6.0 million and $ 11.9 million for the procedures .
effective january 1 , 2003 , instruments are years ended december 31 , 2003 , 2002 and 2001 , respectively .
recognized as long-lived assets and are included in property , amounts written off against the reserve were $ 11.7 million , plant and equipment .
undeployed instruments are carried at $ 7.1 million and $ 8.5 million for the years ended cost , net of allowances for obsolescence .
instruments in the december 31 , 2003 , 2002 and 2001 , respectively .
field are carried at cost less accumulated depreciation .
following the acquisition of centerpulse , the company depreciation is computed using the straight-line method established a common approach for estimating excess based on average estimated useful lives , determined inventory and instruments .
this change in estimate resulted principally in reference to associated product life cycles , in a charge to earnings of $ 3.0 million after tax in the fourth primarily five years .
in accordance with sfas no .
144 , the quarter .
company reviews instruments for impairment whenever .
|
| | | 2003 | 2002 |
|---:|:-----------------------------------|:--------|:--------|
| 0 | finished goods | $ 384.3 | $ 206.7 |
| 1 | raw materials and work in progress | 90.8 | 50.9 |
| 2 | inventory step-up | 52.6 | 2013 |
| 3 | inventories net | $ 527.7 | $ 257.6 |
|
z i m m e r h o l d i n g s , i n c .
a n d s u b s i d i a r i e s 2 0 0 3 f o r m 1 0 - k notes to consolidated financial statements ( continued ) the unaudited pro forma results for 2003 include events or changes in circumstances indicate that the carrying $ 90.4 million of expense related to centerpulse hip and knee value of an asset may not be recoverable .
an impairment loss litigation , $ 54.4 million of cash income tax benefits as a result would be recognized when estimated future cash flows of centerpulse electing to carry back its 2002 u.s .
federal net relating to the asset are less than its carrying amount .
operating loss for 5 years versus 10 years , which resulted in depreciation of instruments is recognized as selling , general more losses being carried forward to future years and less and administrative expense , consistent with the classification tax credits going unutilized due to the shorter carry back of instrument cost in periods prior to january 1 , 2003 .
period and an $ 8.0 million gain on sale of orquest inc. , an prior to january 1 , 2003 , undeployed instruments were investment previously held by centerpulse .
the unaudited carried as a prepaid expense at cost , net of allowances for pro forma results are not necessarily indicative either of the obsolescence ( $ 54.8 million , net , at december 31 , 2002 ) , and results of operations that actually would have resulted had recognized in selling , general and administrative expense in the exchange offers been in effect at the beginning of the the year in which the instruments were placed into service .
respective years or of future results .
the new method of accounting for instruments was adopted to recognize the cost of these important assets of the transfx company 2019s business within the consolidated balance sheet on june 25 , 2003 , the company acquired the transfx and meaningfully allocate the cost of these assets over the external fixation system product line from immedica , inc .
periods benefited , typically five years .
for approximately $ 14.8 million cash , which has been the effect of the change during the year ended allocated primarily to goodwill and technology based december 31 , 2003 was to increase earnings before intangible assets .
the company has sold the transfx cumulative effect of change in accounting principle by product line since early 2001 under a distribution agreement $ 26.8 million ( $ 17.8 million net of tax ) , or $ 0.08 per diluted with immedica .
share .
the cumulative effect adjustment of $ 55.1 million ( net of income taxes of $ 34.0 million ) to retroactively apply the implex corp .
new capitalization method as if applied in years prior to 2003 on march 2 , 2004 , the company entered into an is included in earnings during the year ended december 31 , amended and restated merger agreement relating to the 2003 .
the pro forma amounts shown on the consolidated acquisition of implex corp .
( 2018 2018implex 2019 2019 ) , a privately held statement of earnings have been adjusted for the effect of orthopaedics company based in new jersey , for cash .
each the retroactive application on depreciation and related share of implex stock will be converted into the right to income taxes .
receive cash having an aggregate value of approximately $ 108.0 million at closing and additional cash earn-out 5 .
inventories payments that are contingent on the growth of implex inventories at december 31 , 2003 and 2002 , consist of product sales through 2006 .
the net value transferred at the following ( in millions ) : closing will be approximately $ 89 million , which includes ._| | | 2003 | 2002 |
|---:|:-----------------------------------|:--------|:--------|
| 0 | finished goods | $ 384.3 | $ 206.7 |
| 1 | raw materials and work in progress | 90.8 | 50.9 |
| 2 | inventory step-up | 52.6 | 2013 |
| 3 | inventories net | $ 527.7 | $ 257.6 |_made by zimmer to implex pursuant to their existing alliance raw materials and work in progress 90.8 50.9 arrangement , escrow and other items .
the acquisition will be inventory step-up 52.6 2013 accounted for under the purchase method of accounting .
inventories , net $ 527.7 $ 257.6 reserves for obsolete and slow-moving inventory at4 .
change in accounting principle december 31 , 2003 and 2002 were $ 47.4 million and instruments are hand held devices used by orthopaedic $ 45.5 million , respectively .
provisions charged to expense surgeons during total joint replacement and other surgical were $ 11.6 million , $ 6.0 million and $ 11.9 million for the procedures .
effective january 1 , 2003 , instruments are years ended december 31 , 2003 , 2002 and 2001 , respectively .
recognized as long-lived assets and are included in property , amounts written off against the reserve were $ 11.7 million , plant and equipment .
undeployed instruments are carried at $ 7.1 million and $ 8.5 million for the years ended cost , net of allowances for obsolescence .
instruments in the december 31 , 2003 , 2002 and 2001 , respectively .
field are carried at cost less accumulated depreciation .
following the acquisition of centerpulse , the company depreciation is computed using the straight-line method established a common approach for estimating excess based on average estimated useful lives , determined inventory and instruments .
this change in estimate resulted principally in reference to associated product life cycles , in a charge to earnings of $ 3.0 million after tax in the fourth primarily five years .
in accordance with sfas no .
144 , the quarter .
company reviews instruments for impairment whenever .
| 2,003
| 58
|
ZBH
|
Zimmer Biomet
|
Health Care
|
Health Care Equipment
|
Warsaw, Indiana
|
2001-08-07
| 1,136,869
|
1927
|
what percent of inventory is ready for liquidation ( sale ) in 2003?
|
72.83%
|
divide(384.3, 527.7)
|
z i m m e r h o l d i n g s , i n c .
a n d s u b s i d i a r i e s 2 0 0 3 f o r m 1 0 - k notes to consolidated financial statements ( continued ) the unaudited pro forma results for 2003 include events or changes in circumstances indicate that the carrying $ 90.4 million of expense related to centerpulse hip and knee value of an asset may not be recoverable .
an impairment loss litigation , $ 54.4 million of cash income tax benefits as a result would be recognized when estimated future cash flows of centerpulse electing to carry back its 2002 u.s .
federal net relating to the asset are less than its carrying amount .
operating loss for 5 years versus 10 years , which resulted in depreciation of instruments is recognized as selling , general more losses being carried forward to future years and less and administrative expense , consistent with the classification tax credits going unutilized due to the shorter carry back of instrument cost in periods prior to january 1 , 2003 .
period and an $ 8.0 million gain on sale of orquest inc. , an prior to january 1 , 2003 , undeployed instruments were investment previously held by centerpulse .
the unaudited carried as a prepaid expense at cost , net of allowances for pro forma results are not necessarily indicative either of the obsolescence ( $ 54.8 million , net , at december 31 , 2002 ) , and results of operations that actually would have resulted had recognized in selling , general and administrative expense in the exchange offers been in effect at the beginning of the the year in which the instruments were placed into service .
respective years or of future results .
the new method of accounting for instruments was adopted to recognize the cost of these important assets of the transfx company 2019s business within the consolidated balance sheet on june 25 , 2003 , the company acquired the transfx and meaningfully allocate the cost of these assets over the external fixation system product line from immedica , inc .
periods benefited , typically five years .
for approximately $ 14.8 million cash , which has been the effect of the change during the year ended allocated primarily to goodwill and technology based december 31 , 2003 was to increase earnings before intangible assets .
the company has sold the transfx cumulative effect of change in accounting principle by product line since early 2001 under a distribution agreement $ 26.8 million ( $ 17.8 million net of tax ) , or $ 0.08 per diluted with immedica .
share .
the cumulative effect adjustment of $ 55.1 million ( net of income taxes of $ 34.0 million ) to retroactively apply the implex corp .
new capitalization method as if applied in years prior to 2003 on march 2 , 2004 , the company entered into an is included in earnings during the year ended december 31 , amended and restated merger agreement relating to the 2003 .
the pro forma amounts shown on the consolidated acquisition of implex corp .
( 2018 2018implex 2019 2019 ) , a privately held statement of earnings have been adjusted for the effect of orthopaedics company based in new jersey , for cash .
each the retroactive application on depreciation and related share of implex stock will be converted into the right to income taxes .
receive cash having an aggregate value of approximately $ 108.0 million at closing and additional cash earn-out 5 .
inventories payments that are contingent on the growth of implex inventories at december 31 , 2003 and 2002 , consist of product sales through 2006 .
the net value transferred at the following ( in millions ) : closing will be approximately $ 89 million , which includes .
|
made by zimmer to implex pursuant to their existing alliance raw materials and work in progress 90.8 50.9 arrangement , escrow and other items .
the acquisition will be inventory step-up 52.6 2013 accounted for under the purchase method of accounting .
inventories , net $ 527.7 $ 257.6 reserves for obsolete and slow-moving inventory at4 .
change in accounting principle december 31 , 2003 and 2002 were $ 47.4 million and instruments are hand held devices used by orthopaedic $ 45.5 million , respectively .
provisions charged to expense surgeons during total joint replacement and other surgical were $ 11.6 million , $ 6.0 million and $ 11.9 million for the procedures .
effective january 1 , 2003 , instruments are years ended december 31 , 2003 , 2002 and 2001 , respectively .
recognized as long-lived assets and are included in property , amounts written off against the reserve were $ 11.7 million , plant and equipment .
undeployed instruments are carried at $ 7.1 million and $ 8.5 million for the years ended cost , net of allowances for obsolescence .
instruments in the december 31 , 2003 , 2002 and 2001 , respectively .
field are carried at cost less accumulated depreciation .
following the acquisition of centerpulse , the company depreciation is computed using the straight-line method established a common approach for estimating excess based on average estimated useful lives , determined inventory and instruments .
this change in estimate resulted principally in reference to associated product life cycles , in a charge to earnings of $ 3.0 million after tax in the fourth primarily five years .
in accordance with sfas no .
144 , the quarter .
company reviews instruments for impairment whenever .
|
| | | 2003 | 2002 |
|---:|:-----------------------------------|:--------|:--------|
| 0 | finished goods | $ 384.3 | $ 206.7 |
| 1 | raw materials and work in progress | 90.8 | 50.9 |
| 2 | inventory step-up | 52.6 | 2013 |
| 3 | inventories net | $ 527.7 | $ 257.6 |
|
z i m m e r h o l d i n g s , i n c .
a n d s u b s i d i a r i e s 2 0 0 3 f o r m 1 0 - k notes to consolidated financial statements ( continued ) the unaudited pro forma results for 2003 include events or changes in circumstances indicate that the carrying $ 90.4 million of expense related to centerpulse hip and knee value of an asset may not be recoverable .
an impairment loss litigation , $ 54.4 million of cash income tax benefits as a result would be recognized when estimated future cash flows of centerpulse electing to carry back its 2002 u.s .
federal net relating to the asset are less than its carrying amount .
operating loss for 5 years versus 10 years , which resulted in depreciation of instruments is recognized as selling , general more losses being carried forward to future years and less and administrative expense , consistent with the classification tax credits going unutilized due to the shorter carry back of instrument cost in periods prior to january 1 , 2003 .
period and an $ 8.0 million gain on sale of orquest inc. , an prior to january 1 , 2003 , undeployed instruments were investment previously held by centerpulse .
the unaudited carried as a prepaid expense at cost , net of allowances for pro forma results are not necessarily indicative either of the obsolescence ( $ 54.8 million , net , at december 31 , 2002 ) , and results of operations that actually would have resulted had recognized in selling , general and administrative expense in the exchange offers been in effect at the beginning of the the year in which the instruments were placed into service .
respective years or of future results .
the new method of accounting for instruments was adopted to recognize the cost of these important assets of the transfx company 2019s business within the consolidated balance sheet on june 25 , 2003 , the company acquired the transfx and meaningfully allocate the cost of these assets over the external fixation system product line from immedica , inc .
periods benefited , typically five years .
for approximately $ 14.8 million cash , which has been the effect of the change during the year ended allocated primarily to goodwill and technology based december 31 , 2003 was to increase earnings before intangible assets .
the company has sold the transfx cumulative effect of change in accounting principle by product line since early 2001 under a distribution agreement $ 26.8 million ( $ 17.8 million net of tax ) , or $ 0.08 per diluted with immedica .
share .
the cumulative effect adjustment of $ 55.1 million ( net of income taxes of $ 34.0 million ) to retroactively apply the implex corp .
new capitalization method as if applied in years prior to 2003 on march 2 , 2004 , the company entered into an is included in earnings during the year ended december 31 , amended and restated merger agreement relating to the 2003 .
the pro forma amounts shown on the consolidated acquisition of implex corp .
( 2018 2018implex 2019 2019 ) , a privately held statement of earnings have been adjusted for the effect of orthopaedics company based in new jersey , for cash .
each the retroactive application on depreciation and related share of implex stock will be converted into the right to income taxes .
receive cash having an aggregate value of approximately $ 108.0 million at closing and additional cash earn-out 5 .
inventories payments that are contingent on the growth of implex inventories at december 31 , 2003 and 2002 , consist of product sales through 2006 .
the net value transferred at the following ( in millions ) : closing will be approximately $ 89 million , which includes ._| | | 2003 | 2002 |
|---:|:-----------------------------------|:--------|:--------|
| 0 | finished goods | $ 384.3 | $ 206.7 |
| 1 | raw materials and work in progress | 90.8 | 50.9 |
| 2 | inventory step-up | 52.6 | 2013 |
| 3 | inventories net | $ 527.7 | $ 257.6 |_made by zimmer to implex pursuant to their existing alliance raw materials and work in progress 90.8 50.9 arrangement , escrow and other items .
the acquisition will be inventory step-up 52.6 2013 accounted for under the purchase method of accounting .
inventories , net $ 527.7 $ 257.6 reserves for obsolete and slow-moving inventory at4 .
change in accounting principle december 31 , 2003 and 2002 were $ 47.4 million and instruments are hand held devices used by orthopaedic $ 45.5 million , respectively .
provisions charged to expense surgeons during total joint replacement and other surgical were $ 11.6 million , $ 6.0 million and $ 11.9 million for the procedures .
effective january 1 , 2003 , instruments are years ended december 31 , 2003 , 2002 and 2001 , respectively .
recognized as long-lived assets and are included in property , amounts written off against the reserve were $ 11.7 million , plant and equipment .
undeployed instruments are carried at $ 7.1 million and $ 8.5 million for the years ended cost , net of allowances for obsolescence .
instruments in the december 31 , 2003 , 2002 and 2001 , respectively .
field are carried at cost less accumulated depreciation .
following the acquisition of centerpulse , the company depreciation is computed using the straight-line method established a common approach for estimating excess based on average estimated useful lives , determined inventory and instruments .
this change in estimate resulted principally in reference to associated product life cycles , in a charge to earnings of $ 3.0 million after tax in the fourth primarily five years .
in accordance with sfas no .
144 , the quarter .
company reviews instruments for impairment whenever .
| 2,003
| 58
|
ZBH
|
Zimmer Biomet
|
Health Care
|
Health Care Equipment
|
Warsaw, Indiana
|
2001-08-07
| 1,136,869
|
1927
| null | null |
finqa22
|
what is the total value of net operating loss carryforwards?
|
4575515
|
add(2157503, 2418012)
|
american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) at december 31 , 2005 , the company had net federal and state operating loss carryforwards available to reduce future taxable income of approximately $ 2.2 billion and $ 2.4 billion , respectively .
if not utilized , the company 2019s net operating loss carryforwards expire as follows ( in thousands ) : .
|
sfas no .
109 , 201caccounting for income taxes , 201d requires that companies record a valuation allowance when it is 201cmore likely than not that some portion or all of the deferred tax assets will not be realized . 201d at december 31 , 2005 , the company has provided a valuation allowance of approximately $ 422.4 million , including approximately $ 249.5 million attributable to spectrasite , primarily related to net operating loss and capital loss carryforwards .
approximately $ 237.8 million of the spectrasite valuation allowance was assumed as of the acquisition date .
the balance of the valuation allowance primarily relates to net state deferred tax assets .
the company has not provided a valuation allowance for the remaining deferred tax assets , primarily its federal net operating loss carryforwards , as management believes the company will have sufficient time to realize these federal net operating loss carryforwards during the twenty-year tax carryforward period .
the company intends to recover a portion of its deferred tax asset through its federal income tax refund claims related to the carry back of certain federal net operating losses .
in june 2003 and october 2003 , the company filed federal income tax refund claims with the irs relating to the carry back of $ 380.0 million of net operating losses generated prior to 2003 , of which the company initially anticipated receiving approximately $ 90.0 million .
based on preliminary discussions with tax authorities , the company has revised its estimate of the net realizable value of the federal income tax refund claims and anticipates receiving a refund of approximately $ 65.0 million as a result of these claims by the end of 2006 .
there can be no assurances , however , with respect to the specific amount and timing of any refund .
the recoverability of the company 2019s remaining net deferred tax asset has been assessed utilizing stable state ( no growth ) projections based on its current operations .
the projections show a significant decrease in depreciation and interest expense in the later years of the carryforward period as a result of a significant portion of its assets being fully depreciated during the first fifteen years of the carryforward period and debt repayments reducing interest expense .
accordingly , the recoverability of the net deferred tax asset is not dependent on material improvements to operations , material asset sales or other non-routine transactions .
based on its current outlook of future taxable income during the carryforward period , management believes that the net deferred tax asset will be realized .
the realization of the company 2019s deferred tax assets as of december 31 , 2005 will be dependent upon its ability to generate approximately $ 1.3 billion in taxable income from january 1 , 2006 to december 31 , 2025 .
if the company is unable to generate sufficient taxable income in the future , or carry back losses , as described above , it will be required to reduce its net deferred tax asset through a charge to income tax expense , which would result in a corresponding decrease in stockholders 2019 equity .
from time to time the company is subject to examination by various tax authorities in jurisdictions in which the company has significant business operations .
the company regularly assesses the likelihood of additional assessments in each of the tax jurisdictions resulting from these examinations .
during the year ended .
|
| | years ended december 31, | federal | state |
|---:|:---------------------------|:----------|:----------|
| 0 | 2006 to 2010 | $ 5248 | $ 469747 |
| 1 | 2011 to 2015 | 10012 | 272662 |
| 2 | 2016 to 2020 | 397691 | 777707 |
| 3 | 2021 to 2025 | 1744552 | 897896 |
| 4 | total | $ 2157503 | $ 2418012 |
|
american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) at december 31 , 2005 , the company had net federal and state operating loss carryforwards available to reduce future taxable income of approximately $ 2.2 billion and $ 2.4 billion , respectively .
if not utilized , the company 2019s net operating loss carryforwards expire as follows ( in thousands ) : ._| | years ended december 31, | federal | state |
|---:|:---------------------------|:----------|:----------|
| 0 | 2006 to 2010 | $ 5248 | $ 469747 |
| 1 | 2011 to 2015 | 10012 | 272662 |
| 2 | 2016 to 2020 | 397691 | 777707 |
| 3 | 2021 to 2025 | 1744552 | 897896 |
| 4 | total | $ 2157503 | $ 2418012 |_sfas no .
109 , 201caccounting for income taxes , 201d requires that companies record a valuation allowance when it is 201cmore likely than not that some portion or all of the deferred tax assets will not be realized . 201d at december 31 , 2005 , the company has provided a valuation allowance of approximately $ 422.4 million , including approximately $ 249.5 million attributable to spectrasite , primarily related to net operating loss and capital loss carryforwards .
approximately $ 237.8 million of the spectrasite valuation allowance was assumed as of the acquisition date .
the balance of the valuation allowance primarily relates to net state deferred tax assets .
the company has not provided a valuation allowance for the remaining deferred tax assets , primarily its federal net operating loss carryforwards , as management believes the company will have sufficient time to realize these federal net operating loss carryforwards during the twenty-year tax carryforward period .
the company intends to recover a portion of its deferred tax asset through its federal income tax refund claims related to the carry back of certain federal net operating losses .
in june 2003 and october 2003 , the company filed federal income tax refund claims with the irs relating to the carry back of $ 380.0 million of net operating losses generated prior to 2003 , of which the company initially anticipated receiving approximately $ 90.0 million .
based on preliminary discussions with tax authorities , the company has revised its estimate of the net realizable value of the federal income tax refund claims and anticipates receiving a refund of approximately $ 65.0 million as a result of these claims by the end of 2006 .
there can be no assurances , however , with respect to the specific amount and timing of any refund .
the recoverability of the company 2019s remaining net deferred tax asset has been assessed utilizing stable state ( no growth ) projections based on its current operations .
the projections show a significant decrease in depreciation and interest expense in the later years of the carryforward period as a result of a significant portion of its assets being fully depreciated during the first fifteen years of the carryforward period and debt repayments reducing interest expense .
accordingly , the recoverability of the net deferred tax asset is not dependent on material improvements to operations , material asset sales or other non-routine transactions .
based on its current outlook of future taxable income during the carryforward period , management believes that the net deferred tax asset will be realized .
the realization of the company 2019s deferred tax assets as of december 31 , 2005 will be dependent upon its ability to generate approximately $ 1.3 billion in taxable income from january 1 , 2006 to december 31 , 2025 .
if the company is unable to generate sufficient taxable income in the future , or carry back losses , as described above , it will be required to reduce its net deferred tax asset through a charge to income tax expense , which would result in a corresponding decrease in stockholders 2019 equity .
from time to time the company is subject to examination by various tax authorities in jurisdictions in which the company has significant business operations .
the company regularly assesses the likelihood of additional assessments in each of the tax jurisdictions resulting from these examinations .
during the year ended .
| 2,005
| 105
|
AMT
|
American Tower
|
Real Estate
|
Telecom Tower REITs
|
Boston, Massachusetts
|
2007-11-19
| 1,053,507
|
1995
|
what is the total value of net operating loss carryforwards?
|
4575515
|
add(2157503, 2418012)
|
american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) at december 31 , 2005 , the company had net federal and state operating loss carryforwards available to reduce future taxable income of approximately $ 2.2 billion and $ 2.4 billion , respectively .
if not utilized , the company 2019s net operating loss carryforwards expire as follows ( in thousands ) : .
|
sfas no .
109 , 201caccounting for income taxes , 201d requires that companies record a valuation allowance when it is 201cmore likely than not that some portion or all of the deferred tax assets will not be realized . 201d at december 31 , 2005 , the company has provided a valuation allowance of approximately $ 422.4 million , including approximately $ 249.5 million attributable to spectrasite , primarily related to net operating loss and capital loss carryforwards .
approximately $ 237.8 million of the spectrasite valuation allowance was assumed as of the acquisition date .
the balance of the valuation allowance primarily relates to net state deferred tax assets .
the company has not provided a valuation allowance for the remaining deferred tax assets , primarily its federal net operating loss carryforwards , as management believes the company will have sufficient time to realize these federal net operating loss carryforwards during the twenty-year tax carryforward period .
the company intends to recover a portion of its deferred tax asset through its federal income tax refund claims related to the carry back of certain federal net operating losses .
in june 2003 and october 2003 , the company filed federal income tax refund claims with the irs relating to the carry back of $ 380.0 million of net operating losses generated prior to 2003 , of which the company initially anticipated receiving approximately $ 90.0 million .
based on preliminary discussions with tax authorities , the company has revised its estimate of the net realizable value of the federal income tax refund claims and anticipates receiving a refund of approximately $ 65.0 million as a result of these claims by the end of 2006 .
there can be no assurances , however , with respect to the specific amount and timing of any refund .
the recoverability of the company 2019s remaining net deferred tax asset has been assessed utilizing stable state ( no growth ) projections based on its current operations .
the projections show a significant decrease in depreciation and interest expense in the later years of the carryforward period as a result of a significant portion of its assets being fully depreciated during the first fifteen years of the carryforward period and debt repayments reducing interest expense .
accordingly , the recoverability of the net deferred tax asset is not dependent on material improvements to operations , material asset sales or other non-routine transactions .
based on its current outlook of future taxable income during the carryforward period , management believes that the net deferred tax asset will be realized .
the realization of the company 2019s deferred tax assets as of december 31 , 2005 will be dependent upon its ability to generate approximately $ 1.3 billion in taxable income from january 1 , 2006 to december 31 , 2025 .
if the company is unable to generate sufficient taxable income in the future , or carry back losses , as described above , it will be required to reduce its net deferred tax asset through a charge to income tax expense , which would result in a corresponding decrease in stockholders 2019 equity .
from time to time the company is subject to examination by various tax authorities in jurisdictions in which the company has significant business operations .
the company regularly assesses the likelihood of additional assessments in each of the tax jurisdictions resulting from these examinations .
during the year ended .
|
| | years ended december 31, | federal | state |
|---:|:---------------------------|:----------|:----------|
| 0 | 2006 to 2010 | $ 5248 | $ 469747 |
| 1 | 2011 to 2015 | 10012 | 272662 |
| 2 | 2016 to 2020 | 397691 | 777707 |
| 3 | 2021 to 2025 | 1744552 | 897896 |
| 4 | total | $ 2157503 | $ 2418012 |
|
american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) at december 31 , 2005 , the company had net federal and state operating loss carryforwards available to reduce future taxable income of approximately $ 2.2 billion and $ 2.4 billion , respectively .
if not utilized , the company 2019s net operating loss carryforwards expire as follows ( in thousands ) : ._| | years ended december 31, | federal | state |
|---:|:---------------------------|:----------|:----------|
| 0 | 2006 to 2010 | $ 5248 | $ 469747 |
| 1 | 2011 to 2015 | 10012 | 272662 |
| 2 | 2016 to 2020 | 397691 | 777707 |
| 3 | 2021 to 2025 | 1744552 | 897896 |
| 4 | total | $ 2157503 | $ 2418012 |_sfas no .
109 , 201caccounting for income taxes , 201d requires that companies record a valuation allowance when it is 201cmore likely than not that some portion or all of the deferred tax assets will not be realized . 201d at december 31 , 2005 , the company has provided a valuation allowance of approximately $ 422.4 million , including approximately $ 249.5 million attributable to spectrasite , primarily related to net operating loss and capital loss carryforwards .
approximately $ 237.8 million of the spectrasite valuation allowance was assumed as of the acquisition date .
the balance of the valuation allowance primarily relates to net state deferred tax assets .
the company has not provided a valuation allowance for the remaining deferred tax assets , primarily its federal net operating loss carryforwards , as management believes the company will have sufficient time to realize these federal net operating loss carryforwards during the twenty-year tax carryforward period .
the company intends to recover a portion of its deferred tax asset through its federal income tax refund claims related to the carry back of certain federal net operating losses .
in june 2003 and october 2003 , the company filed federal income tax refund claims with the irs relating to the carry back of $ 380.0 million of net operating losses generated prior to 2003 , of which the company initially anticipated receiving approximately $ 90.0 million .
based on preliminary discussions with tax authorities , the company has revised its estimate of the net realizable value of the federal income tax refund claims and anticipates receiving a refund of approximately $ 65.0 million as a result of these claims by the end of 2006 .
there can be no assurances , however , with respect to the specific amount and timing of any refund .
the recoverability of the company 2019s remaining net deferred tax asset has been assessed utilizing stable state ( no growth ) projections based on its current operations .
the projections show a significant decrease in depreciation and interest expense in the later years of the carryforward period as a result of a significant portion of its assets being fully depreciated during the first fifteen years of the carryforward period and debt repayments reducing interest expense .
accordingly , the recoverability of the net deferred tax asset is not dependent on material improvements to operations , material asset sales or other non-routine transactions .
based on its current outlook of future taxable income during the carryforward period , management believes that the net deferred tax asset will be realized .
the realization of the company 2019s deferred tax assets as of december 31 , 2005 will be dependent upon its ability to generate approximately $ 1.3 billion in taxable income from january 1 , 2006 to december 31 , 2025 .
if the company is unable to generate sufficient taxable income in the future , or carry back losses , as described above , it will be required to reduce its net deferred tax asset through a charge to income tax expense , which would result in a corresponding decrease in stockholders 2019 equity .
from time to time the company is subject to examination by various tax authorities in jurisdictions in which the company has significant business operations .
the company regularly assesses the likelihood of additional assessments in each of the tax jurisdictions resulting from these examinations .
during the year ended .
| 2,005
| 105
|
AMT
|
American Tower
|
Real Estate
|
Telecom Tower REITs
|
Boston, Massachusetts
|
2007-11-19
| 1,053,507
|
1995
| null | null |
finqa23
|
what is the percent change in annual long-term debt maturities from 2016 to 2017?
|
276%
|
divide(subtract(766451, 204079), 204079)
|
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 .
these notes do not have a stated interest rate , but have an implicit interest rate of 4.8% ( 4.8 % ) .
in accordance with the purchase agreement with nypa , the purchase of indian point 2 in 2001 resulted in entergy 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: .
|
| | | amount ( in thousands ) |
|---:|-----:|:--------------------------|
| 0 | 2016 | $ 204079 |
| 1 | 2017 | $ 766451 |
| 2 | 2018 | $ 822690 |
| 3 | 2019 | $ 768588 |
| 4 | 2020 | $ 1631181 |
|
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 ) ._| | | amount ( in thousands ) |
|---:|-----:|:--------------------------|
| 0 | 2016 | $ 204079 |
| 1 | 2017 | $ 766451 |
| 2 | 2018 | $ 822690 |
| 3 | 2019 | $ 768588 |
| 4 | 2020 | $ 1631181 |_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 .
these notes do not have a stated interest rate , but have an implicit interest rate of 4.8% ( 4.8 % ) .
in accordance with the purchase agreement with nypa , the purchase of indian point 2 in 2001 resulted in entergy 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: .
| 2,015
| 131
|
ETR
|
Entergy
|
Utilities
|
Electric Utilities
|
New Orleans, Louisiana
|
1957-03-04
| 65,984
|
1913
|
what is the percent change in annual long-term debt maturities from 2016 to 2017?
|
276%
|
divide(subtract(766451, 204079), 204079)
|
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 .
these notes do not have a stated interest rate , but have an implicit interest rate of 4.8% ( 4.8 % ) .
in accordance with the purchase agreement with nypa , the purchase of indian point 2 in 2001 resulted in entergy 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: .
|
| | | amount ( in thousands ) |
|---:|-----:|:--------------------------|
| 0 | 2016 | $ 204079 |
| 1 | 2017 | $ 766451 |
| 2 | 2018 | $ 822690 |
| 3 | 2019 | $ 768588 |
| 4 | 2020 | $ 1631181 |
|
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 ) ._| | | amount ( in thousands ) |
|---:|-----:|:--------------------------|
| 0 | 2016 | $ 204079 |
| 1 | 2017 | $ 766451 |
| 2 | 2018 | $ 822690 |
| 3 | 2019 | $ 768588 |
| 4 | 2020 | $ 1631181 |_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 .
these notes do not have a stated interest rate , but have an implicit interest rate of 4.8% ( 4.8 % ) .
in accordance with the purchase agreement with nypa , the purchase of indian point 2 in 2001 resulted in entergy 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: .
| 2,015
| 131
|
ETR
|
Entergy
|
Utilities
|
Electric Utilities
|
New Orleans, Louisiana
|
1957-03-04
| 65,984
|
1913
| null | null |
finqa24
|
share of total securities rated bbb/baa or below changed by how many percentage point between 2008 and 2009?
|
-1
|
subtract(2, 3)
|
market street commitments by credit rating ( a ) december 31 , december 31 .
|
( a ) the majority of our facilities are not explicitly rated by the rating agencies .
all facilities are structured to meet rating agency standards for applicable rating levels .
we evaluated the design of market street , its capital structure , the note , and relationships among the variable interest holders .
based on this analysis and under accounting guidance effective during 2009 and 2008 , we are not the primary beneficiary and therefore the assets and liabilities of market street are not included on our consolidated balance sheet .
we considered changes to the variable interest holders ( such as new expected loss note investors and changes to program- level credit enhancement providers ) , terms of expected loss notes , and new types of risks related to market street as reconsideration events .
we reviewed the activities of market street on at least a quarterly basis to determine if a reconsideration event has occurred .
tax credit investments we make certain equity investments in various limited partnerships or limited liability companies ( llcs ) that sponsor affordable housing projects utilizing the low income housing tax credit ( lihtc ) pursuant to sections 42 and 47 of the internal revenue code .
the purpose of these investments is to achieve a satisfactory return on capital , to facilitate the sale of additional affordable housing product offerings and to assist us in achieving goals associated with the community reinvestment act .
the primary activities of the investments include the identification , development and operation of multi-family housing that is leased to qualifying residential tenants .
generally , these types of investments are funded through a combination of debt and equity .
we typically invest in these partnerships as a limited partner or non-managing member .
also , we are a national syndicator of affordable housing equity ( together with the investments described above , the 201clihtc investments 201d ) .
in these syndication transactions , we create funds in which our subsidiaries are the general partner or managing member and sell limited partnership or non-managing member interests to third parties , and in some cases may also purchase a limited partnership or non-managing member interest in the fund .
the purpose of this business is to generate income from the syndication of these funds , generate servicing fees by managing the funds , and earn tax credits to reduce our tax liability .
general partner or managing member activities include selecting , evaluating , structuring , negotiating , and closing the fund investments in operating limited partnerships , as well as oversight of the ongoing operations of the fund portfolio .
we evaluate our interests and third party interests in the limited partnerships/llcs in determining whether we are the primary beneficiary .
the primary beneficiary determination is based on which party absorbs a majority of the variability .
the primary sources of variability in lihtc investments are the tax credits , tax benefits due to passive losses on the investments and development and operating cash flows .
we have consolidated lihtc investments in which we absorb a majority of the variability and thus are considered the primary beneficiary .
the assets are primarily included in equity investments and other assets on our consolidated balance sheet with the liabilities classified in other liabilities and third party investors 2019 interests included in the equity section as noncontrolling interests .
neither creditors nor equity investors in the lihtc investments have any recourse to our general credit .
the consolidated aggregate assets and liabilities of these lihtc investments are provided in the consolidated vies 2013 pnc is primary beneficiary table and reflected in the 201cother 201d business segment .
we also have lihtc investments in which we are not the primary beneficiary , but are considered to have a significant variable interest based on our interests in the partnership/llc .
these investments are disclosed in the non-consolidated vies 2013 significant variable interests table .
the table also reflects our maximum exposure to loss .
our maximum exposure to loss is equal to our legally binding equity commitments adjusted for recorded impairment and partnership results .
we use the equity and cost methods to account for our investment in these entities with the investments reflected in equity investments on our consolidated balance sheet .
in addition , we increase our recognized investments and recognize a liability for all legally binding unfunded equity commitments .
these liabilities are reflected in other liabilities on our consolidated balance sheet .
credit risk transfer transaction national city bank , ( a former pnc subsidiary which merged into pnc bank , n.a .
in november 2009 ) sponsored a special purpose entity ( spe ) and concurrently entered into a credit risk transfer agreement with an independent third party to mitigate credit losses on a pool of nonconforming mortgage loans originated by its former first franklin business unit .
the spe was formed with a small equity contribution and was structured as a bankruptcy-remote entity so that its creditors have no recourse to us .
in exchange for a perfected security interest in the cash flows of the nonconforming mortgage loans , the spe issued to us asset-backed securities in the form of senior , mezzanine , and subordinated equity notes .
the spe was deemed to be a vie as its equity was not sufficient to finance its activities .
we were determined to be the primary beneficiary of the spe as we would absorb the majority of the expected losses of the spe through our holding of the asset-backed securities .
accordingly , this spe was consolidated and all of the entity 2019s assets , liabilities , and .
|
| | | december 31 2009 | december 312008 |
|---:|:--------|:-------------------|:------------------|
| 0 | aaa/aaa | 14% ( 14 % ) | 19% ( 19 % ) |
| 1 | aa/aa | 50 | 6 |
| 2 | a/a | 34 | 72 |
| 3 | bbb/baa | 2 | 3 |
| 4 | total | 100% ( 100 % ) | 100% ( 100 % ) |
|
market street commitments by credit rating ( a ) december 31 , december 31 ._| | | december 31 2009 | december 312008 |
|---:|:--------|:-------------------|:------------------|
| 0 | aaa/aaa | 14% ( 14 % ) | 19% ( 19 % ) |
| 1 | aa/aa | 50 | 6 |
| 2 | a/a | 34 | 72 |
| 3 | bbb/baa | 2 | 3 |
| 4 | total | 100% ( 100 % ) | 100% ( 100 % ) |_( a ) the majority of our facilities are not explicitly rated by the rating agencies .
all facilities are structured to meet rating agency standards for applicable rating levels .
we evaluated the design of market street , its capital structure , the note , and relationships among the variable interest holders .
based on this analysis and under accounting guidance effective during 2009 and 2008 , we are not the primary beneficiary and therefore the assets and liabilities of market street are not included on our consolidated balance sheet .
we considered changes to the variable interest holders ( such as new expected loss note investors and changes to program- level credit enhancement providers ) , terms of expected loss notes , and new types of risks related to market street as reconsideration events .
we reviewed the activities of market street on at least a quarterly basis to determine if a reconsideration event has occurred .
tax credit investments we make certain equity investments in various limited partnerships or limited liability companies ( llcs ) that sponsor affordable housing projects utilizing the low income housing tax credit ( lihtc ) pursuant to sections 42 and 47 of the internal revenue code .
the purpose of these investments is to achieve a satisfactory return on capital , to facilitate the sale of additional affordable housing product offerings and to assist us in achieving goals associated with the community reinvestment act .
the primary activities of the investments include the identification , development and operation of multi-family housing that is leased to qualifying residential tenants .
generally , these types of investments are funded through a combination of debt and equity .
we typically invest in these partnerships as a limited partner or non-managing member .
also , we are a national syndicator of affordable housing equity ( together with the investments described above , the 201clihtc investments 201d ) .
in these syndication transactions , we create funds in which our subsidiaries are the general partner or managing member and sell limited partnership or non-managing member interests to third parties , and in some cases may also purchase a limited partnership or non-managing member interest in the fund .
the purpose of this business is to generate income from the syndication of these funds , generate servicing fees by managing the funds , and earn tax credits to reduce our tax liability .
general partner or managing member activities include selecting , evaluating , structuring , negotiating , and closing the fund investments in operating limited partnerships , as well as oversight of the ongoing operations of the fund portfolio .
we evaluate our interests and third party interests in the limited partnerships/llcs in determining whether we are the primary beneficiary .
the primary beneficiary determination is based on which party absorbs a majority of the variability .
the primary sources of variability in lihtc investments are the tax credits , tax benefits due to passive losses on the investments and development and operating cash flows .
we have consolidated lihtc investments in which we absorb a majority of the variability and thus are considered the primary beneficiary .
the assets are primarily included in equity investments and other assets on our consolidated balance sheet with the liabilities classified in other liabilities and third party investors 2019 interests included in the equity section as noncontrolling interests .
neither creditors nor equity investors in the lihtc investments have any recourse to our general credit .
the consolidated aggregate assets and liabilities of these lihtc investments are provided in the consolidated vies 2013 pnc is primary beneficiary table and reflected in the 201cother 201d business segment .
we also have lihtc investments in which we are not the primary beneficiary , but are considered to have a significant variable interest based on our interests in the partnership/llc .
these investments are disclosed in the non-consolidated vies 2013 significant variable interests table .
the table also reflects our maximum exposure to loss .
our maximum exposure to loss is equal to our legally binding equity commitments adjusted for recorded impairment and partnership results .
we use the equity and cost methods to account for our investment in these entities with the investments reflected in equity investments on our consolidated balance sheet .
in addition , we increase our recognized investments and recognize a liability for all legally binding unfunded equity commitments .
these liabilities are reflected in other liabilities on our consolidated balance sheet .
credit risk transfer transaction national city bank , ( a former pnc subsidiary which merged into pnc bank , n.a .
in november 2009 ) sponsored a special purpose entity ( spe ) and concurrently entered into a credit risk transfer agreement with an independent third party to mitigate credit losses on a pool of nonconforming mortgage loans originated by its former first franklin business unit .
the spe was formed with a small equity contribution and was structured as a bankruptcy-remote entity so that its creditors have no recourse to us .
in exchange for a perfected security interest in the cash flows of the nonconforming mortgage loans , the spe issued to us asset-backed securities in the form of senior , mezzanine , and subordinated equity notes .
the spe was deemed to be a vie as its equity was not sufficient to finance its activities .
we were determined to be the primary beneficiary of the spe as we would absorb the majority of the expected losses of the spe through our holding of the asset-backed securities .
accordingly , this spe was consolidated and all of the entity 2019s assets , liabilities , and .
| 2,009
| 46
|
PNC
|
PNC Financial Services
|
Financials
|
Diversified Banks
|
Pittsburgh, Pennsylvania
|
1988-04-30
| 713,676
|
1845
|
share of total securities rated bbb/baa or below changed by how many percentage point between 2008 and 2009?
|
-1
|
subtract(2, 3)
|
market street commitments by credit rating ( a ) december 31 , december 31 .
|
( a ) the majority of our facilities are not explicitly rated by the rating agencies .
all facilities are structured to meet rating agency standards for applicable rating levels .
we evaluated the design of market street , its capital structure , the note , and relationships among the variable interest holders .
based on this analysis and under accounting guidance effective during 2009 and 2008 , we are not the primary beneficiary and therefore the assets and liabilities of market street are not included on our consolidated balance sheet .
we considered changes to the variable interest holders ( such as new expected loss note investors and changes to program- level credit enhancement providers ) , terms of expected loss notes , and new types of risks related to market street as reconsideration events .
we reviewed the activities of market street on at least a quarterly basis to determine if a reconsideration event has occurred .
tax credit investments we make certain equity investments in various limited partnerships or limited liability companies ( llcs ) that sponsor affordable housing projects utilizing the low income housing tax credit ( lihtc ) pursuant to sections 42 and 47 of the internal revenue code .
the purpose of these investments is to achieve a satisfactory return on capital , to facilitate the sale of additional affordable housing product offerings and to assist us in achieving goals associated with the community reinvestment act .
the primary activities of the investments include the identification , development and operation of multi-family housing that is leased to qualifying residential tenants .
generally , these types of investments are funded through a combination of debt and equity .
we typically invest in these partnerships as a limited partner or non-managing member .
also , we are a national syndicator of affordable housing equity ( together with the investments described above , the 201clihtc investments 201d ) .
in these syndication transactions , we create funds in which our subsidiaries are the general partner or managing member and sell limited partnership or non-managing member interests to third parties , and in some cases may also purchase a limited partnership or non-managing member interest in the fund .
the purpose of this business is to generate income from the syndication of these funds , generate servicing fees by managing the funds , and earn tax credits to reduce our tax liability .
general partner or managing member activities include selecting , evaluating , structuring , negotiating , and closing the fund investments in operating limited partnerships , as well as oversight of the ongoing operations of the fund portfolio .
we evaluate our interests and third party interests in the limited partnerships/llcs in determining whether we are the primary beneficiary .
the primary beneficiary determination is based on which party absorbs a majority of the variability .
the primary sources of variability in lihtc investments are the tax credits , tax benefits due to passive losses on the investments and development and operating cash flows .
we have consolidated lihtc investments in which we absorb a majority of the variability and thus are considered the primary beneficiary .
the assets are primarily included in equity investments and other assets on our consolidated balance sheet with the liabilities classified in other liabilities and third party investors 2019 interests included in the equity section as noncontrolling interests .
neither creditors nor equity investors in the lihtc investments have any recourse to our general credit .
the consolidated aggregate assets and liabilities of these lihtc investments are provided in the consolidated vies 2013 pnc is primary beneficiary table and reflected in the 201cother 201d business segment .
we also have lihtc investments in which we are not the primary beneficiary , but are considered to have a significant variable interest based on our interests in the partnership/llc .
these investments are disclosed in the non-consolidated vies 2013 significant variable interests table .
the table also reflects our maximum exposure to loss .
our maximum exposure to loss is equal to our legally binding equity commitments adjusted for recorded impairment and partnership results .
we use the equity and cost methods to account for our investment in these entities with the investments reflected in equity investments on our consolidated balance sheet .
in addition , we increase our recognized investments and recognize a liability for all legally binding unfunded equity commitments .
these liabilities are reflected in other liabilities on our consolidated balance sheet .
credit risk transfer transaction national city bank , ( a former pnc subsidiary which merged into pnc bank , n.a .
in november 2009 ) sponsored a special purpose entity ( spe ) and concurrently entered into a credit risk transfer agreement with an independent third party to mitigate credit losses on a pool of nonconforming mortgage loans originated by its former first franklin business unit .
the spe was formed with a small equity contribution and was structured as a bankruptcy-remote entity so that its creditors have no recourse to us .
in exchange for a perfected security interest in the cash flows of the nonconforming mortgage loans , the spe issued to us asset-backed securities in the form of senior , mezzanine , and subordinated equity notes .
the spe was deemed to be a vie as its equity was not sufficient to finance its activities .
we were determined to be the primary beneficiary of the spe as we would absorb the majority of the expected losses of the spe through our holding of the asset-backed securities .
accordingly , this spe was consolidated and all of the entity 2019s assets , liabilities , and .
|
| | | december 31 2009 | december 312008 |
|---:|:--------|:-------------------|:------------------|
| 0 | aaa/aaa | 14% ( 14 % ) | 19% ( 19 % ) |
| 1 | aa/aa | 50 | 6 |
| 2 | a/a | 34 | 72 |
| 3 | bbb/baa | 2 | 3 |
| 4 | total | 100% ( 100 % ) | 100% ( 100 % ) |
|
market street commitments by credit rating ( a ) december 31 , december 31 ._| | | december 31 2009 | december 312008 |
|---:|:--------|:-------------------|:------------------|
| 0 | aaa/aaa | 14% ( 14 % ) | 19% ( 19 % ) |
| 1 | aa/aa | 50 | 6 |
| 2 | a/a | 34 | 72 |
| 3 | bbb/baa | 2 | 3 |
| 4 | total | 100% ( 100 % ) | 100% ( 100 % ) |_( a ) the majority of our facilities are not explicitly rated by the rating agencies .
all facilities are structured to meet rating agency standards for applicable rating levels .
we evaluated the design of market street , its capital structure , the note , and relationships among the variable interest holders .
based on this analysis and under accounting guidance effective during 2009 and 2008 , we are not the primary beneficiary and therefore the assets and liabilities of market street are not included on our consolidated balance sheet .
we considered changes to the variable interest holders ( such as new expected loss note investors and changes to program- level credit enhancement providers ) , terms of expected loss notes , and new types of risks related to market street as reconsideration events .
we reviewed the activities of market street on at least a quarterly basis to determine if a reconsideration event has occurred .
tax credit investments we make certain equity investments in various limited partnerships or limited liability companies ( llcs ) that sponsor affordable housing projects utilizing the low income housing tax credit ( lihtc ) pursuant to sections 42 and 47 of the internal revenue code .
the purpose of these investments is to achieve a satisfactory return on capital , to facilitate the sale of additional affordable housing product offerings and to assist us in achieving goals associated with the community reinvestment act .
the primary activities of the investments include the identification , development and operation of multi-family housing that is leased to qualifying residential tenants .
generally , these types of investments are funded through a combination of debt and equity .
we typically invest in these partnerships as a limited partner or non-managing member .
also , we are a national syndicator of affordable housing equity ( together with the investments described above , the 201clihtc investments 201d ) .
in these syndication transactions , we create funds in which our subsidiaries are the general partner or managing member and sell limited partnership or non-managing member interests to third parties , and in some cases may also purchase a limited partnership or non-managing member interest in the fund .
the purpose of this business is to generate income from the syndication of these funds , generate servicing fees by managing the funds , and earn tax credits to reduce our tax liability .
general partner or managing member activities include selecting , evaluating , structuring , negotiating , and closing the fund investments in operating limited partnerships , as well as oversight of the ongoing operations of the fund portfolio .
we evaluate our interests and third party interests in the limited partnerships/llcs in determining whether we are the primary beneficiary .
the primary beneficiary determination is based on which party absorbs a majority of the variability .
the primary sources of variability in lihtc investments are the tax credits , tax benefits due to passive losses on the investments and development and operating cash flows .
we have consolidated lihtc investments in which we absorb a majority of the variability and thus are considered the primary beneficiary .
the assets are primarily included in equity investments and other assets on our consolidated balance sheet with the liabilities classified in other liabilities and third party investors 2019 interests included in the equity section as noncontrolling interests .
neither creditors nor equity investors in the lihtc investments have any recourse to our general credit .
the consolidated aggregate assets and liabilities of these lihtc investments are provided in the consolidated vies 2013 pnc is primary beneficiary table and reflected in the 201cother 201d business segment .
we also have lihtc investments in which we are not the primary beneficiary , but are considered to have a significant variable interest based on our interests in the partnership/llc .
these investments are disclosed in the non-consolidated vies 2013 significant variable interests table .
the table also reflects our maximum exposure to loss .
our maximum exposure to loss is equal to our legally binding equity commitments adjusted for recorded impairment and partnership results .
we use the equity and cost methods to account for our investment in these entities with the investments reflected in equity investments on our consolidated balance sheet .
in addition , we increase our recognized investments and recognize a liability for all legally binding unfunded equity commitments .
these liabilities are reflected in other liabilities on our consolidated balance sheet .
credit risk transfer transaction national city bank , ( a former pnc subsidiary which merged into pnc bank , n.a .
in november 2009 ) sponsored a special purpose entity ( spe ) and concurrently entered into a credit risk transfer agreement with an independent third party to mitigate credit losses on a pool of nonconforming mortgage loans originated by its former first franklin business unit .
the spe was formed with a small equity contribution and was structured as a bankruptcy-remote entity so that its creditors have no recourse to us .
in exchange for a perfected security interest in the cash flows of the nonconforming mortgage loans , the spe issued to us asset-backed securities in the form of senior , mezzanine , and subordinated equity notes .
the spe was deemed to be a vie as its equity was not sufficient to finance its activities .
we were determined to be the primary beneficiary of the spe as we would absorb the majority of the expected losses of the spe through our holding of the asset-backed securities .
accordingly , this spe was consolidated and all of the entity 2019s assets , liabilities , and .
| 2,009
| 46
|
PNC
|
PNC Financial Services
|
Financials
|
Diversified Banks
|
Pittsburgh, Pennsylvania
|
1988-04-30
| 713,676
|
1845
| null | null |
finqa25
|
what is the percentage increase in interest expense?
|
2.6%
|
divide(23, subtract(914, 23))
|
net revenues include $ 3.8 billion in 2017 and $ 739 million in 2016 related to the sale of rrps , mainly driven by japan .
these net revenue amounts include excise taxes billed to customers .
excluding excise taxes , net revenues for rrps were $ 3.6 billion in 2017 and $ 733 million in 2016 .
in some jurisdictions , including japan , we are not responsible for collecting excise taxes .
in 2017 , approximately $ 0.9 billion of our $ 3.6 billion in rrp net revenues , excluding excise taxes , were from iqos devices and accessories .
excise taxes on products increased by $ 1.1 billion , due to : 2022 higher excise taxes resulting from changes in retail prices and tax rates ( $ 4.6 billion ) , partially offset by 2022 favorable currency ( $ 1.9 billion ) and 2022 lower excise taxes resulting from volume/mix ( $ 1.6 billion ) .
our cost of sales ; marketing , administration and research costs ; and operating income were as follows : for the years ended december 31 , variance .
|
cost of sales increased by $ 1.0 billion , due to : 2022 higher cost of sales resulting from volume/mix ( $ 1.1 billion ) , partly offset by 2022 lower manufacturing costs ( $ 36 million ) and 2022 favorable currency ( $ 30 million ) .
marketing , administration and research costs increased by $ 320 million , due to : 2022 higher expenses ( $ 570 million , largely reflecting increased investment behind reduced-risk products , predominately in the european union and asia ) , partly offset by 2022 favorable currency ( $ 250 million ) .
operating income increased by $ 688 million , due primarily to : 2022 price increases ( $ 1.4 billion ) , partly offset by 2022 higher marketing , administration and research costs ( $ 570 million ) and 2022 unfavorable currency ( $ 157 million ) .
interest expense , net , of $ 914 million increased by $ 23 million , due primarily to unfavorably currency and higher average debt levels , partly offset by higher interest income .
our effective tax rate increased by 12.8 percentage points to 40.7% ( 40.7 % ) .
the 2017 effective tax rate was unfavorably impacted by $ 1.6 billion due to the tax cuts and jobs act .
for further details , see item 8 , note 11 .
income taxes to our consolidated financial statements .
we are continuing to evaluate the impact that the tax cuts and jobs act will have on our tax liability .
based upon our current interpretation of the tax cuts and jobs act , we estimate that our 2018 effective tax rate will be approximately 28% ( 28 % ) , subject to future regulatory developments and earnings mix by taxing jurisdiction .
we are regularly examined by tax authorities around the world , and we are currently under examination in a number of jurisdictions .
it is reasonably possible that within the next 12 months certain tax examinations will close , which could result in a change in unrecognized tax benefits along with related interest and penalties .
an estimate of any possible change cannot be made at this time .
net earnings attributable to pmi of $ 6.0 billion decreased by $ 932 million ( 13.4% ( 13.4 % ) ) .
this decrease was due primarily to a higher effective tax rate as discussed above , partly offset by higher operating income .
diluted and basic eps of $ 3.88 decreased by 13.4% ( 13.4 % ) .
excluding .
|
| | ( in millions ) | for the years ended december 31 , 2017 | for the years ended december 31 , 2016 | for the years ended december 31 , $ | % ( % ) |
|---:|:--------------------------------------------|:-----------------------------------------|:-----------------------------------------|:--------------------------------------|:-----------------|
| 0 | cost of sales | $ 10432 | $ 9391 | $ 1041 | 11.1% ( 11.1 % ) |
| 1 | marketing administration and research costs | 6725 | 6405 | 320 | 5.0% ( 5.0 % ) |
| 2 | operating income | 11503 | 10815 | 688 | 6.4% ( 6.4 % ) |
|
net revenues include $ 3.8 billion in 2017 and $ 739 million in 2016 related to the sale of rrps , mainly driven by japan .
these net revenue amounts include excise taxes billed to customers .
excluding excise taxes , net revenues for rrps were $ 3.6 billion in 2017 and $ 733 million in 2016 .
in some jurisdictions , including japan , we are not responsible for collecting excise taxes .
in 2017 , approximately $ 0.9 billion of our $ 3.6 billion in rrp net revenues , excluding excise taxes , were from iqos devices and accessories .
excise taxes on products increased by $ 1.1 billion , due to : 2022 higher excise taxes resulting from changes in retail prices and tax rates ( $ 4.6 billion ) , partially offset by 2022 favorable currency ( $ 1.9 billion ) and 2022 lower excise taxes resulting from volume/mix ( $ 1.6 billion ) .
our cost of sales ; marketing , administration and research costs ; and operating income were as follows : for the years ended december 31 , variance ._| | ( in millions ) | for the years ended december 31 , 2017 | for the years ended december 31 , 2016 | for the years ended december 31 , $ | % ( % ) |
|---:|:--------------------------------------------|:-----------------------------------------|:-----------------------------------------|:--------------------------------------|:-----------------|
| 0 | cost of sales | $ 10432 | $ 9391 | $ 1041 | 11.1% ( 11.1 % ) |
| 1 | marketing administration and research costs | 6725 | 6405 | 320 | 5.0% ( 5.0 % ) |
| 2 | operating income | 11503 | 10815 | 688 | 6.4% ( 6.4 % ) |_cost of sales increased by $ 1.0 billion , due to : 2022 higher cost of sales resulting from volume/mix ( $ 1.1 billion ) , partly offset by 2022 lower manufacturing costs ( $ 36 million ) and 2022 favorable currency ( $ 30 million ) .
marketing , administration and research costs increased by $ 320 million , due to : 2022 higher expenses ( $ 570 million , largely reflecting increased investment behind reduced-risk products , predominately in the european union and asia ) , partly offset by 2022 favorable currency ( $ 250 million ) .
operating income increased by $ 688 million , due primarily to : 2022 price increases ( $ 1.4 billion ) , partly offset by 2022 higher marketing , administration and research costs ( $ 570 million ) and 2022 unfavorable currency ( $ 157 million ) .
interest expense , net , of $ 914 million increased by $ 23 million , due primarily to unfavorably currency and higher average debt levels , partly offset by higher interest income .
our effective tax rate increased by 12.8 percentage points to 40.7% ( 40.7 % ) .
the 2017 effective tax rate was unfavorably impacted by $ 1.6 billion due to the tax cuts and jobs act .
for further details , see item 8 , note 11 .
income taxes to our consolidated financial statements .
we are continuing to evaluate the impact that the tax cuts and jobs act will have on our tax liability .
based upon our current interpretation of the tax cuts and jobs act , we estimate that our 2018 effective tax rate will be approximately 28% ( 28 % ) , subject to future regulatory developments and earnings mix by taxing jurisdiction .
we are regularly examined by tax authorities around the world , and we are currently under examination in a number of jurisdictions .
it is reasonably possible that within the next 12 months certain tax examinations will close , which could result in a change in unrecognized tax benefits along with related interest and penalties .
an estimate of any possible change cannot be made at this time .
net earnings attributable to pmi of $ 6.0 billion decreased by $ 932 million ( 13.4% ( 13.4 % ) ) .
this decrease was due primarily to a higher effective tax rate as discussed above , partly offset by higher operating income .
diluted and basic eps of $ 3.88 decreased by 13.4% ( 13.4 % ) .
excluding .
| 2,017
| 38
|
PM
|
Philip Morris International
|
Consumer Staples
|
Tobacco
|
New York City, New York
|
2008-03-31
| 1,413,329
|
2008 (1847)
|
what is the percentage increase in interest expense?
|
2.6%
|
divide(23, subtract(914, 23))
|
net revenues include $ 3.8 billion in 2017 and $ 739 million in 2016 related to the sale of rrps , mainly driven by japan .
these net revenue amounts include excise taxes billed to customers .
excluding excise taxes , net revenues for rrps were $ 3.6 billion in 2017 and $ 733 million in 2016 .
in some jurisdictions , including japan , we are not responsible for collecting excise taxes .
in 2017 , approximately $ 0.9 billion of our $ 3.6 billion in rrp net revenues , excluding excise taxes , were from iqos devices and accessories .
excise taxes on products increased by $ 1.1 billion , due to : 2022 higher excise taxes resulting from changes in retail prices and tax rates ( $ 4.6 billion ) , partially offset by 2022 favorable currency ( $ 1.9 billion ) and 2022 lower excise taxes resulting from volume/mix ( $ 1.6 billion ) .
our cost of sales ; marketing , administration and research costs ; and operating income were as follows : for the years ended december 31 , variance .
|
cost of sales increased by $ 1.0 billion , due to : 2022 higher cost of sales resulting from volume/mix ( $ 1.1 billion ) , partly offset by 2022 lower manufacturing costs ( $ 36 million ) and 2022 favorable currency ( $ 30 million ) .
marketing , administration and research costs increased by $ 320 million , due to : 2022 higher expenses ( $ 570 million , largely reflecting increased investment behind reduced-risk products , predominately in the european union and asia ) , partly offset by 2022 favorable currency ( $ 250 million ) .
operating income increased by $ 688 million , due primarily to : 2022 price increases ( $ 1.4 billion ) , partly offset by 2022 higher marketing , administration and research costs ( $ 570 million ) and 2022 unfavorable currency ( $ 157 million ) .
interest expense , net , of $ 914 million increased by $ 23 million , due primarily to unfavorably currency and higher average debt levels , partly offset by higher interest income .
our effective tax rate increased by 12.8 percentage points to 40.7% ( 40.7 % ) .
the 2017 effective tax rate was unfavorably impacted by $ 1.6 billion due to the tax cuts and jobs act .
for further details , see item 8 , note 11 .
income taxes to our consolidated financial statements .
we are continuing to evaluate the impact that the tax cuts and jobs act will have on our tax liability .
based upon our current interpretation of the tax cuts and jobs act , we estimate that our 2018 effective tax rate will be approximately 28% ( 28 % ) , subject to future regulatory developments and earnings mix by taxing jurisdiction .
we are regularly examined by tax authorities around the world , and we are currently under examination in a number of jurisdictions .
it is reasonably possible that within the next 12 months certain tax examinations will close , which could result in a change in unrecognized tax benefits along with related interest and penalties .
an estimate of any possible change cannot be made at this time .
net earnings attributable to pmi of $ 6.0 billion decreased by $ 932 million ( 13.4% ( 13.4 % ) ) .
this decrease was due primarily to a higher effective tax rate as discussed above , partly offset by higher operating income .
diluted and basic eps of $ 3.88 decreased by 13.4% ( 13.4 % ) .
excluding .
|
| | ( in millions ) | for the years ended december 31 , 2017 | for the years ended december 31 , 2016 | for the years ended december 31 , $ | % ( % ) |
|---:|:--------------------------------------------|:-----------------------------------------|:-----------------------------------------|:--------------------------------------|:-----------------|
| 0 | cost of sales | $ 10432 | $ 9391 | $ 1041 | 11.1% ( 11.1 % ) |
| 1 | marketing administration and research costs | 6725 | 6405 | 320 | 5.0% ( 5.0 % ) |
| 2 | operating income | 11503 | 10815 | 688 | 6.4% ( 6.4 % ) |
|
net revenues include $ 3.8 billion in 2017 and $ 739 million in 2016 related to the sale of rrps , mainly driven by japan .
these net revenue amounts include excise taxes billed to customers .
excluding excise taxes , net revenues for rrps were $ 3.6 billion in 2017 and $ 733 million in 2016 .
in some jurisdictions , including japan , we are not responsible for collecting excise taxes .
in 2017 , approximately $ 0.9 billion of our $ 3.6 billion in rrp net revenues , excluding excise taxes , were from iqos devices and accessories .
excise taxes on products increased by $ 1.1 billion , due to : 2022 higher excise taxes resulting from changes in retail prices and tax rates ( $ 4.6 billion ) , partially offset by 2022 favorable currency ( $ 1.9 billion ) and 2022 lower excise taxes resulting from volume/mix ( $ 1.6 billion ) .
our cost of sales ; marketing , administration and research costs ; and operating income were as follows : for the years ended december 31 , variance ._| | ( in millions ) | for the years ended december 31 , 2017 | for the years ended december 31 , 2016 | for the years ended december 31 , $ | % ( % ) |
|---:|:--------------------------------------------|:-----------------------------------------|:-----------------------------------------|:--------------------------------------|:-----------------|
| 0 | cost of sales | $ 10432 | $ 9391 | $ 1041 | 11.1% ( 11.1 % ) |
| 1 | marketing administration and research costs | 6725 | 6405 | 320 | 5.0% ( 5.0 % ) |
| 2 | operating income | 11503 | 10815 | 688 | 6.4% ( 6.4 % ) |_cost of sales increased by $ 1.0 billion , due to : 2022 higher cost of sales resulting from volume/mix ( $ 1.1 billion ) , partly offset by 2022 lower manufacturing costs ( $ 36 million ) and 2022 favorable currency ( $ 30 million ) .
marketing , administration and research costs increased by $ 320 million , due to : 2022 higher expenses ( $ 570 million , largely reflecting increased investment behind reduced-risk products , predominately in the european union and asia ) , partly offset by 2022 favorable currency ( $ 250 million ) .
operating income increased by $ 688 million , due primarily to : 2022 price increases ( $ 1.4 billion ) , partly offset by 2022 higher marketing , administration and research costs ( $ 570 million ) and 2022 unfavorable currency ( $ 157 million ) .
interest expense , net , of $ 914 million increased by $ 23 million , due primarily to unfavorably currency and higher average debt levels , partly offset by higher interest income .
our effective tax rate increased by 12.8 percentage points to 40.7% ( 40.7 % ) .
the 2017 effective tax rate was unfavorably impacted by $ 1.6 billion due to the tax cuts and jobs act .
for further details , see item 8 , note 11 .
income taxes to our consolidated financial statements .
we are continuing to evaluate the impact that the tax cuts and jobs act will have on our tax liability .
based upon our current interpretation of the tax cuts and jobs act , we estimate that our 2018 effective tax rate will be approximately 28% ( 28 % ) , subject to future regulatory developments and earnings mix by taxing jurisdiction .
we are regularly examined by tax authorities around the world , and we are currently under examination in a number of jurisdictions .
it is reasonably possible that within the next 12 months certain tax examinations will close , which could result in a change in unrecognized tax benefits along with related interest and penalties .
an estimate of any possible change cannot be made at this time .
net earnings attributable to pmi of $ 6.0 billion decreased by $ 932 million ( 13.4% ( 13.4 % ) ) .
this decrease was due primarily to a higher effective tax rate as discussed above , partly offset by higher operating income .
diluted and basic eps of $ 3.88 decreased by 13.4% ( 13.4 % ) .
excluding .
| 2,017
| 38
|
PM
|
Philip Morris International
|
Consumer Staples
|
Tobacco
|
New York City, New York
|
2008-03-31
| 1,413,329
|
2008 (1847)
| null | null |
finqa26
|
what is the expected growth rate in amortization expense from 2016 to 2017?
|
-3.0%
|
divide(subtract(365.6, 377.0), 377.0)
|
table of contents the estimated amortization expense at september 26 , 2015 for each of the five succeeding fiscal years was as follows: .
|
goodwill in accordance with asc 350 , intangibles 2014goodwill and other ( asc 350 ) , the company tests goodwill for impairment at the reporting unit level on an annual basis and between annual tests if events and circumstances indicate it is more likely than not that the fair value of a reporting unit is less than its carrying value .
events that could indicate impairment and trigger an interim impairment assessment include , but are not limited to , current economic and market conditions , including a decline in market capitalization , a significant adverse change in legal factors , business climate , operational performance of the business or key personnel , and an adverse action or assessment by a regulator .
in performing the impairment test , the company utilizes the two-step approach prescribed under asc 350 .
the first step requires a comparison of the carrying value of each reporting unit to its estimated fair value .
to estimate the fair value of its reporting units for step 1 , the company primarily utilizes the income approach .
the income approach is based on a dcf analysis and calculates the fair value by estimating the after-tax cash flows attributable to a reporting unit and then discounting the after-tax cash flows to a present value using a risk-adjusted discount rate .
assumptions used in the dcf require significant judgment , including judgment about appropriate discount rates and terminal values , growth rates , and the amount and timing of expected future cash flows .
the forecasted cash flows are based on the company 2019s most recent budget and strategic plan and for years beyond this period , the company 2019s estimates are based on assumed growth rates expected as of the measurement date .
the company believes its assumptions are consistent with the plans and estimates used to manage the underlying businesses .
the discount rates used are intended to reflect the risks inherent in future cash flow projections and are based on estimates of the weighted-average cost of capital ( 201cwacc 201d ) of market participants relative to each respective reporting unit .
the market approach considers comparable market data based on multiples of revenue or earnings before interest , taxes , depreciation and amortization ( 201cebitda 201d ) and is primarily used as a corroborative analysis to the results of the dcf analysis .
the company believes its assumptions used to determine the fair value of its reporting units are reasonable .
if different assumptions were used , particularly with respect to forecasted cash flows , terminal values , waccs , or market multiples , different estimates of fair value may result and there could be the potential that an impairment charge could result .
actual operating results and the related cash flows of the reporting units could differ from the estimated operating results and related cash flows .
if the carrying value of a reporting unit exceeds its estimated fair value , the company is required to perform the second step of the goodwill impairment test to measure the amount of impairment loss , if any .
the second step of the goodwill impairment test compares the implied fair value of a reporting unit 2019s goodwill to its carrying value .
the implied fair value of goodwill is derived by performing a hypothetical purchase price allocation for each reporting unit as of the measurement date and allocating the reporting unit 2019s estimated fair value to its assets and liabilities .
the residual amount from performing this allocation represents the implied fair value of goodwill .
to the extent this amount is below the carrying value of goodwill , an impairment charge is recorded .
the company conducted its fiscal 2015 impairment test on the first day of the fourth quarter , and as noted above used dcf and market approaches to estimate the fair value of its reporting units as of june 28 , 2015 , and ultimately used the fair value determined by the dcf approach in making its impairment test conclusions .
the company believes it used reasonable estimates and assumptions about future revenue , cost projections , cash flows , market multiples and discount rates as of the measurement date .
as a result of completing step 1 , all of the company's reporting units had fair values exceeding their carrying values , and as such , step 2 of the impairment test was not required .
for illustrative purposes , had the fair value of each of the reporting units that passed step 1 been lower than 10% ( 10 % ) , all of the reporting units would still have passed step 1 of the goodwill impairment test .
at september 26 , 2015 , the company believes that each reporting unit , with goodwill aggregating 2.81 billion , was not at risk of failing step 1 of the goodwill impairment test based on the current forecasts .
the company conducted its fiscal 2014 annual impairment test on the first day of the fourth quarter , and as noted above used dcf and market approaches to estimate the fair value of its reporting units as of june 29 , 2014 , and ultimately used the fair value determined by the dcf approach in making its impairment test conclusions .
the company believes it used reasonable estimates and assumptions about future revenue , cost projections , cash flows , market multiples and discount rates as source : hologic inc , 10-k , november 19 , 2015 powered by morningstar ae document research 2120 the information contained herein may not be copied , adapted or distributed and is not warranted to be accurate , complete or timely .
the user assumes all risks for any damages or losses arising from any use of this information , except to the extent such damages or losses cannot be limited or excluded by applicable law .
past financial performance is no guarantee of future results. .
|
| | fiscal 2016 | $ 377.0 |
|---:|:--------------|:----------|
| 0 | fiscal 2017 | $ 365.6 |
| 1 | fiscal 2018 | $ 355.1 |
| 2 | fiscal 2019 | $ 343.5 |
| 3 | fiscal 2020 | $ 332.3 |
|
table of contents the estimated amortization expense at september 26 , 2015 for each of the five succeeding fiscal years was as follows: ._| | fiscal 2016 | $ 377.0 |
|---:|:--------------|:----------|
| 0 | fiscal 2017 | $ 365.6 |
| 1 | fiscal 2018 | $ 355.1 |
| 2 | fiscal 2019 | $ 343.5 |
| 3 | fiscal 2020 | $ 332.3 |_goodwill in accordance with asc 350 , intangibles 2014goodwill and other ( asc 350 ) , the company tests goodwill for impairment at the reporting unit level on an annual basis and between annual tests if events and circumstances indicate it is more likely than not that the fair value of a reporting unit is less than its carrying value .
events that could indicate impairment and trigger an interim impairment assessment include , but are not limited to , current economic and market conditions , including a decline in market capitalization , a significant adverse change in legal factors , business climate , operational performance of the business or key personnel , and an adverse action or assessment by a regulator .
in performing the impairment test , the company utilizes the two-step approach prescribed under asc 350 .
the first step requires a comparison of the carrying value of each reporting unit to its estimated fair value .
to estimate the fair value of its reporting units for step 1 , the company primarily utilizes the income approach .
the income approach is based on a dcf analysis and calculates the fair value by estimating the after-tax cash flows attributable to a reporting unit and then discounting the after-tax cash flows to a present value using a risk-adjusted discount rate .
assumptions used in the dcf require significant judgment , including judgment about appropriate discount rates and terminal values , growth rates , and the amount and timing of expected future cash flows .
the forecasted cash flows are based on the company 2019s most recent budget and strategic plan and for years beyond this period , the company 2019s estimates are based on assumed growth rates expected as of the measurement date .
the company believes its assumptions are consistent with the plans and estimates used to manage the underlying businesses .
the discount rates used are intended to reflect the risks inherent in future cash flow projections and are based on estimates of the weighted-average cost of capital ( 201cwacc 201d ) of market participants relative to each respective reporting unit .
the market approach considers comparable market data based on multiples of revenue or earnings before interest , taxes , depreciation and amortization ( 201cebitda 201d ) and is primarily used as a corroborative analysis to the results of the dcf analysis .
the company believes its assumptions used to determine the fair value of its reporting units are reasonable .
if different assumptions were used , particularly with respect to forecasted cash flows , terminal values , waccs , or market multiples , different estimates of fair value may result and there could be the potential that an impairment charge could result .
actual operating results and the related cash flows of the reporting units could differ from the estimated operating results and related cash flows .
if the carrying value of a reporting unit exceeds its estimated fair value , the company is required to perform the second step of the goodwill impairment test to measure the amount of impairment loss , if any .
the second step of the goodwill impairment test compares the implied fair value of a reporting unit 2019s goodwill to its carrying value .
the implied fair value of goodwill is derived by performing a hypothetical purchase price allocation for each reporting unit as of the measurement date and allocating the reporting unit 2019s estimated fair value to its assets and liabilities .
the residual amount from performing this allocation represents the implied fair value of goodwill .
to the extent this amount is below the carrying value of goodwill , an impairment charge is recorded .
the company conducted its fiscal 2015 impairment test on the first day of the fourth quarter , and as noted above used dcf and market approaches to estimate the fair value of its reporting units as of june 28 , 2015 , and ultimately used the fair value determined by the dcf approach in making its impairment test conclusions .
the company believes it used reasonable estimates and assumptions about future revenue , cost projections , cash flows , market multiples and discount rates as of the measurement date .
as a result of completing step 1 , all of the company's reporting units had fair values exceeding their carrying values , and as such , step 2 of the impairment test was not required .
for illustrative purposes , had the fair value of each of the reporting units that passed step 1 been lower than 10% ( 10 % ) , all of the reporting units would still have passed step 1 of the goodwill impairment test .
at september 26 , 2015 , the company believes that each reporting unit , with goodwill aggregating 2.81 billion , was not at risk of failing step 1 of the goodwill impairment test based on the current forecasts .
the company conducted its fiscal 2014 annual impairment test on the first day of the fourth quarter , and as noted above used dcf and market approaches to estimate the fair value of its reporting units as of june 29 , 2014 , and ultimately used the fair value determined by the dcf approach in making its impairment test conclusions .
the company believes it used reasonable estimates and assumptions about future revenue , cost projections , cash flows , market multiples and discount rates as source : hologic inc , 10-k , november 19 , 2015 powered by morningstar ae document research 2120 the information contained herein may not be copied , adapted or distributed and is not warranted to be accurate , complete or timely .
the user assumes all risks for any damages or losses arising from any use of this information , except to the extent such damages or losses cannot be limited or excluded by applicable law .
past financial performance is no guarantee of future results. .
| 2,015
| 98
|
HOLX
|
Hologic
|
Health Care
|
Health Care Equipment
|
Marlborough, Massachusetts
|
2016-03-30
| 859,737
|
1985
|
what is the expected growth rate in amortization expense from 2016 to 2017?
|
-3.0%
|
divide(subtract(365.6, 377.0), 377.0)
|
table of contents the estimated amortization expense at september 26 , 2015 for each of the five succeeding fiscal years was as follows: .
|
goodwill in accordance with asc 350 , intangibles 2014goodwill and other ( asc 350 ) , the company tests goodwill for impairment at the reporting unit level on an annual basis and between annual tests if events and circumstances indicate it is more likely than not that the fair value of a reporting unit is less than its carrying value .
events that could indicate impairment and trigger an interim impairment assessment include , but are not limited to , current economic and market conditions , including a decline in market capitalization , a significant adverse change in legal factors , business climate , operational performance of the business or key personnel , and an adverse action or assessment by a regulator .
in performing the impairment test , the company utilizes the two-step approach prescribed under asc 350 .
the first step requires a comparison of the carrying value of each reporting unit to its estimated fair value .
to estimate the fair value of its reporting units for step 1 , the company primarily utilizes the income approach .
the income approach is based on a dcf analysis and calculates the fair value by estimating the after-tax cash flows attributable to a reporting unit and then discounting the after-tax cash flows to a present value using a risk-adjusted discount rate .
assumptions used in the dcf require significant judgment , including judgment about appropriate discount rates and terminal values , growth rates , and the amount and timing of expected future cash flows .
the forecasted cash flows are based on the company 2019s most recent budget and strategic plan and for years beyond this period , the company 2019s estimates are based on assumed growth rates expected as of the measurement date .
the company believes its assumptions are consistent with the plans and estimates used to manage the underlying businesses .
the discount rates used are intended to reflect the risks inherent in future cash flow projections and are based on estimates of the weighted-average cost of capital ( 201cwacc 201d ) of market participants relative to each respective reporting unit .
the market approach considers comparable market data based on multiples of revenue or earnings before interest , taxes , depreciation and amortization ( 201cebitda 201d ) and is primarily used as a corroborative analysis to the results of the dcf analysis .
the company believes its assumptions used to determine the fair value of its reporting units are reasonable .
if different assumptions were used , particularly with respect to forecasted cash flows , terminal values , waccs , or market multiples , different estimates of fair value may result and there could be the potential that an impairment charge could result .
actual operating results and the related cash flows of the reporting units could differ from the estimated operating results and related cash flows .
if the carrying value of a reporting unit exceeds its estimated fair value , the company is required to perform the second step of the goodwill impairment test to measure the amount of impairment loss , if any .
the second step of the goodwill impairment test compares the implied fair value of a reporting unit 2019s goodwill to its carrying value .
the implied fair value of goodwill is derived by performing a hypothetical purchase price allocation for each reporting unit as of the measurement date and allocating the reporting unit 2019s estimated fair value to its assets and liabilities .
the residual amount from performing this allocation represents the implied fair value of goodwill .
to the extent this amount is below the carrying value of goodwill , an impairment charge is recorded .
the company conducted its fiscal 2015 impairment test on the first day of the fourth quarter , and as noted above used dcf and market approaches to estimate the fair value of its reporting units as of june 28 , 2015 , and ultimately used the fair value determined by the dcf approach in making its impairment test conclusions .
the company believes it used reasonable estimates and assumptions about future revenue , cost projections , cash flows , market multiples and discount rates as of the measurement date .
as a result of completing step 1 , all of the company's reporting units had fair values exceeding their carrying values , and as such , step 2 of the impairment test was not required .
for illustrative purposes , had the fair value of each of the reporting units that passed step 1 been lower than 10% ( 10 % ) , all of the reporting units would still have passed step 1 of the goodwill impairment test .
at september 26 , 2015 , the company believes that each reporting unit , with goodwill aggregating 2.81 billion , was not at risk of failing step 1 of the goodwill impairment test based on the current forecasts .
the company conducted its fiscal 2014 annual impairment test on the first day of the fourth quarter , and as noted above used dcf and market approaches to estimate the fair value of its reporting units as of june 29 , 2014 , and ultimately used the fair value determined by the dcf approach in making its impairment test conclusions .
the company believes it used reasonable estimates and assumptions about future revenue , cost projections , cash flows , market multiples and discount rates as source : hologic inc , 10-k , november 19 , 2015 powered by morningstar ae document research 2120 the information contained herein may not be copied , adapted or distributed and is not warranted to be accurate , complete or timely .
the user assumes all risks for any damages or losses arising from any use of this information , except to the extent such damages or losses cannot be limited or excluded by applicable law .
past financial performance is no guarantee of future results. .
|
| | fiscal 2016 | $ 377.0 |
|---:|:--------------|:----------|
| 0 | fiscal 2017 | $ 365.6 |
| 1 | fiscal 2018 | $ 355.1 |
| 2 | fiscal 2019 | $ 343.5 |
| 3 | fiscal 2020 | $ 332.3 |
|
table of contents the estimated amortization expense at september 26 , 2015 for each of the five succeeding fiscal years was as follows: ._| | fiscal 2016 | $ 377.0 |
|---:|:--------------|:----------|
| 0 | fiscal 2017 | $ 365.6 |
| 1 | fiscal 2018 | $ 355.1 |
| 2 | fiscal 2019 | $ 343.5 |
| 3 | fiscal 2020 | $ 332.3 |_goodwill in accordance with asc 350 , intangibles 2014goodwill and other ( asc 350 ) , the company tests goodwill for impairment at the reporting unit level on an annual basis and between annual tests if events and circumstances indicate it is more likely than not that the fair value of a reporting unit is less than its carrying value .
events that could indicate impairment and trigger an interim impairment assessment include , but are not limited to , current economic and market conditions , including a decline in market capitalization , a significant adverse change in legal factors , business climate , operational performance of the business or key personnel , and an adverse action or assessment by a regulator .
in performing the impairment test , the company utilizes the two-step approach prescribed under asc 350 .
the first step requires a comparison of the carrying value of each reporting unit to its estimated fair value .
to estimate the fair value of its reporting units for step 1 , the company primarily utilizes the income approach .
the income approach is based on a dcf analysis and calculates the fair value by estimating the after-tax cash flows attributable to a reporting unit and then discounting the after-tax cash flows to a present value using a risk-adjusted discount rate .
assumptions used in the dcf require significant judgment , including judgment about appropriate discount rates and terminal values , growth rates , and the amount and timing of expected future cash flows .
the forecasted cash flows are based on the company 2019s most recent budget and strategic plan and for years beyond this period , the company 2019s estimates are based on assumed growth rates expected as of the measurement date .
the company believes its assumptions are consistent with the plans and estimates used to manage the underlying businesses .
the discount rates used are intended to reflect the risks inherent in future cash flow projections and are based on estimates of the weighted-average cost of capital ( 201cwacc 201d ) of market participants relative to each respective reporting unit .
the market approach considers comparable market data based on multiples of revenue or earnings before interest , taxes , depreciation and amortization ( 201cebitda 201d ) and is primarily used as a corroborative analysis to the results of the dcf analysis .
the company believes its assumptions used to determine the fair value of its reporting units are reasonable .
if different assumptions were used , particularly with respect to forecasted cash flows , terminal values , waccs , or market multiples , different estimates of fair value may result and there could be the potential that an impairment charge could result .
actual operating results and the related cash flows of the reporting units could differ from the estimated operating results and related cash flows .
if the carrying value of a reporting unit exceeds its estimated fair value , the company is required to perform the second step of the goodwill impairment test to measure the amount of impairment loss , if any .
the second step of the goodwill impairment test compares the implied fair value of a reporting unit 2019s goodwill to its carrying value .
the implied fair value of goodwill is derived by performing a hypothetical purchase price allocation for each reporting unit as of the measurement date and allocating the reporting unit 2019s estimated fair value to its assets and liabilities .
the residual amount from performing this allocation represents the implied fair value of goodwill .
to the extent this amount is below the carrying value of goodwill , an impairment charge is recorded .
the company conducted its fiscal 2015 impairment test on the first day of the fourth quarter , and as noted above used dcf and market approaches to estimate the fair value of its reporting units as of june 28 , 2015 , and ultimately used the fair value determined by the dcf approach in making its impairment test conclusions .
the company believes it used reasonable estimates and assumptions about future revenue , cost projections , cash flows , market multiples and discount rates as of the measurement date .
as a result of completing step 1 , all of the company's reporting units had fair values exceeding their carrying values , and as such , step 2 of the impairment test was not required .
for illustrative purposes , had the fair value of each of the reporting units that passed step 1 been lower than 10% ( 10 % ) , all of the reporting units would still have passed step 1 of the goodwill impairment test .
at september 26 , 2015 , the company believes that each reporting unit , with goodwill aggregating 2.81 billion , was not at risk of failing step 1 of the goodwill impairment test based on the current forecasts .
the company conducted its fiscal 2014 annual impairment test on the first day of the fourth quarter , and as noted above used dcf and market approaches to estimate the fair value of its reporting units as of june 29 , 2014 , and ultimately used the fair value determined by the dcf approach in making its impairment test conclusions .
the company believes it used reasonable estimates and assumptions about future revenue , cost projections , cash flows , market multiples and discount rates as source : hologic inc , 10-k , november 19 , 2015 powered by morningstar ae document research 2120 the information contained herein may not be copied , adapted or distributed and is not warranted to be accurate , complete or timely .
the user assumes all risks for any damages or losses arising from any use of this information , except to the extent such damages or losses cannot be limited or excluded by applicable law .
past financial performance is no guarantee of future results. .
| 2,015
| 98
|
HOLX
|
Hologic
|
Health Care
|
Health Care Equipment
|
Marlborough, Massachusetts
|
2016-03-30
| 859,737
|
1985
| null | null |
finqa27
|
what are the payments for entergy arkansas as a percentage of payments for entergy louisiana?
|
33.3%
|
divide(2, 6)
|
payments ( receipts ) ( in millions ) .
|
in september 2016 the ferc accepted the february 2016 compliance filing subject to a further compliance filing made in november 2016 .
the further compliance filing was required as a result of an order issued in september 2016 ruling on the january 2016 rehearing requests filed by the lpsc , the apsc , and entergy .
in the order addressing the rehearing requests , the ferc granted the lpsc 2019s rehearing request and directed that interest be calculated on the payment/receipt amounts .
the ferc also granted the apsc 2019s and entergy 2019s rehearing request and ordered the removal of both securitized asset accumulated deferred income taxes and contra-securitization accumulated deferred income taxes from the calculation .
in november 2016 , entergy submitted its compliance filing in response to the ferc 2019s order on rehearing .
the compliance filing included a revised refund calculation of the true-up payments and receipts based on 2009 test year data and interest calculations .
the lpsc protested the interest calculations .
in november 2017 the ferc issued an order rejecting the november 2016 compliance filing .
the ferc determined that the payments detailed in the november 2016 compliance filing did not include adequate interest for the payments from entergy arkansas to entergy louisiana because it did not include interest on the principal portion of the payment that was made in february 2016 .
in december 2017 , entergy recalculated the interest pursuant to the november 2017 order .
as a result of the recalculations , entergy arkansas owed very minor payments to entergy louisiana , entergy mississippi , and entergy new orleans .
2011 rate filing based on calendar year 2010 production costs in may 2011 , entergy filed with the ferc the 2011 rates in accordance with the ferc 2019s orders in the system agreement proceeding . a0 a0several parties intervened in the proceeding at the ferc , including the lpsc , which also filed a protest . a0 a0in july a02011 the ferc a0accepted entergy 2019s proposed rates for filing , a0effective june a01 , a02011 , a0subject to refund .
after an abeyance of the proceeding schedule , in december 2014 the ferc consolidated the 2011 rate filing with the 2012 , 2013 , and 2014 rate filings for settlement and hearing procedures .
see discussion below regarding the consolidated settlement and hearing procedures in connection with this proceeding .
2012 rate filing based on calendar year 2011 production costs in may 2012 , entergy filed with the ferc the 2012 rates in accordance with the ferc 2019s orders in the system agreement proceeding . a0 a0several parties intervened in the proceeding at the ferc , including the lpsc , which also filed a protest . a0 a0in august 2012 the ferc a0accepted entergy 2019s proposed rates for filing , a0effective june a02012 , a0subject to refund .
after an abeyance of the proceeding schedule , in december 2014 the ferc consolidated the 2012 rate filing with the 2011 , 2013 , and 2014 rate filings for settlement and hearing procedures .
see discussion below regarding the consolidated settlement and hearing procedures in connection with this proceeding .
2013 rate filing based on calendar year 2012 production costs in may 2013 , entergy filed with the ferc the 2013 rates in accordance with the ferc 2019s orders in the system agreement proceeding .
several parties intervened in the proceeding at the ferc , including the lpsc , which also filed a protest .
the city council intervened and filed comments related to including the outcome of a related ferc proceeding in the 2013 cost equalization calculation .
in august 2013 the ferc issued an order accepting the 2013 rates , effective june 1 , 2013 , subject to refund .
after an abeyance of the proceeding schedule , in december 2014 the ferc consolidated the 2013 rate filing with the 2011 , 2012 , and 2014 rate filings for settlement and hearing procedures .
entergy corporation and subsidiaries notes to financial statements .
|
| | | payments ( receipts ) ( in millions ) |
|---:|:--------------------|:----------------------------------------|
| 0 | entergy arkansas | $ 2 |
| 1 | entergy louisiana | $ 6 |
| 2 | entergy mississippi | ( $ 4 ) |
| 3 | entergy new orleans | ( $ 1 ) |
| 4 | entergy texas | ( $ 3 ) |
|
payments ( receipts ) ( in millions ) ._| | | payments ( receipts ) ( in millions ) |
|---:|:--------------------|:----------------------------------------|
| 0 | entergy arkansas | $ 2 |
| 1 | entergy louisiana | $ 6 |
| 2 | entergy mississippi | ( $ 4 ) |
| 3 | entergy new orleans | ( $ 1 ) |
| 4 | entergy texas | ( $ 3 ) |_in september 2016 the ferc accepted the february 2016 compliance filing subject to a further compliance filing made in november 2016 .
the further compliance filing was required as a result of an order issued in september 2016 ruling on the january 2016 rehearing requests filed by the lpsc , the apsc , and entergy .
in the order addressing the rehearing requests , the ferc granted the lpsc 2019s rehearing request and directed that interest be calculated on the payment/receipt amounts .
the ferc also granted the apsc 2019s and entergy 2019s rehearing request and ordered the removal of both securitized asset accumulated deferred income taxes and contra-securitization accumulated deferred income taxes from the calculation .
in november 2016 , entergy submitted its compliance filing in response to the ferc 2019s order on rehearing .
the compliance filing included a revised refund calculation of the true-up payments and receipts based on 2009 test year data and interest calculations .
the lpsc protested the interest calculations .
in november 2017 the ferc issued an order rejecting the november 2016 compliance filing .
the ferc determined that the payments detailed in the november 2016 compliance filing did not include adequate interest for the payments from entergy arkansas to entergy louisiana because it did not include interest on the principal portion of the payment that was made in february 2016 .
in december 2017 , entergy recalculated the interest pursuant to the november 2017 order .
as a result of the recalculations , entergy arkansas owed very minor payments to entergy louisiana , entergy mississippi , and entergy new orleans .
2011 rate filing based on calendar year 2010 production costs in may 2011 , entergy filed with the ferc the 2011 rates in accordance with the ferc 2019s orders in the system agreement proceeding . a0 a0several parties intervened in the proceeding at the ferc , including the lpsc , which also filed a protest . a0 a0in july a02011 the ferc a0accepted entergy 2019s proposed rates for filing , a0effective june a01 , a02011 , a0subject to refund .
after an abeyance of the proceeding schedule , in december 2014 the ferc consolidated the 2011 rate filing with the 2012 , 2013 , and 2014 rate filings for settlement and hearing procedures .
see discussion below regarding the consolidated settlement and hearing procedures in connection with this proceeding .
2012 rate filing based on calendar year 2011 production costs in may 2012 , entergy filed with the ferc the 2012 rates in accordance with the ferc 2019s orders in the system agreement proceeding . a0 a0several parties intervened in the proceeding at the ferc , including the lpsc , which also filed a protest . a0 a0in august 2012 the ferc a0accepted entergy 2019s proposed rates for filing , a0effective june a02012 , a0subject to refund .
after an abeyance of the proceeding schedule , in december 2014 the ferc consolidated the 2012 rate filing with the 2011 , 2013 , and 2014 rate filings for settlement and hearing procedures .
see discussion below regarding the consolidated settlement and hearing procedures in connection with this proceeding .
2013 rate filing based on calendar year 2012 production costs in may 2013 , entergy filed with the ferc the 2013 rates in accordance with the ferc 2019s orders in the system agreement proceeding .
several parties intervened in the proceeding at the ferc , including the lpsc , which also filed a protest .
the city council intervened and filed comments related to including the outcome of a related ferc proceeding in the 2013 cost equalization calculation .
in august 2013 the ferc issued an order accepting the 2013 rates , effective june 1 , 2013 , subject to refund .
after an abeyance of the proceeding schedule , in december 2014 the ferc consolidated the 2013 rate filing with the 2011 , 2012 , and 2014 rate filings for settlement and hearing procedures .
entergy corporation and subsidiaries notes to financial statements .
| 2,017
| 114
|
ETR
|
Entergy
|
Utilities
|
Electric Utilities
|
New Orleans, Louisiana
|
1957-03-04
| 65,984
|
1913
|
what are the payments for entergy arkansas as a percentage of payments for entergy louisiana?
|
33.3%
|
divide(2, 6)
|
payments ( receipts ) ( in millions ) .
|
in september 2016 the ferc accepted the february 2016 compliance filing subject to a further compliance filing made in november 2016 .
the further compliance filing was required as a result of an order issued in september 2016 ruling on the january 2016 rehearing requests filed by the lpsc , the apsc , and entergy .
in the order addressing the rehearing requests , the ferc granted the lpsc 2019s rehearing request and directed that interest be calculated on the payment/receipt amounts .
the ferc also granted the apsc 2019s and entergy 2019s rehearing request and ordered the removal of both securitized asset accumulated deferred income taxes and contra-securitization accumulated deferred income taxes from the calculation .
in november 2016 , entergy submitted its compliance filing in response to the ferc 2019s order on rehearing .
the compliance filing included a revised refund calculation of the true-up payments and receipts based on 2009 test year data and interest calculations .
the lpsc protested the interest calculations .
in november 2017 the ferc issued an order rejecting the november 2016 compliance filing .
the ferc determined that the payments detailed in the november 2016 compliance filing did not include adequate interest for the payments from entergy arkansas to entergy louisiana because it did not include interest on the principal portion of the payment that was made in february 2016 .
in december 2017 , entergy recalculated the interest pursuant to the november 2017 order .
as a result of the recalculations , entergy arkansas owed very minor payments to entergy louisiana , entergy mississippi , and entergy new orleans .
2011 rate filing based on calendar year 2010 production costs in may 2011 , entergy filed with the ferc the 2011 rates in accordance with the ferc 2019s orders in the system agreement proceeding . a0 a0several parties intervened in the proceeding at the ferc , including the lpsc , which also filed a protest . a0 a0in july a02011 the ferc a0accepted entergy 2019s proposed rates for filing , a0effective june a01 , a02011 , a0subject to refund .
after an abeyance of the proceeding schedule , in december 2014 the ferc consolidated the 2011 rate filing with the 2012 , 2013 , and 2014 rate filings for settlement and hearing procedures .
see discussion below regarding the consolidated settlement and hearing procedures in connection with this proceeding .
2012 rate filing based on calendar year 2011 production costs in may 2012 , entergy filed with the ferc the 2012 rates in accordance with the ferc 2019s orders in the system agreement proceeding . a0 a0several parties intervened in the proceeding at the ferc , including the lpsc , which also filed a protest . a0 a0in august 2012 the ferc a0accepted entergy 2019s proposed rates for filing , a0effective june a02012 , a0subject to refund .
after an abeyance of the proceeding schedule , in december 2014 the ferc consolidated the 2012 rate filing with the 2011 , 2013 , and 2014 rate filings for settlement and hearing procedures .
see discussion below regarding the consolidated settlement and hearing procedures in connection with this proceeding .
2013 rate filing based on calendar year 2012 production costs in may 2013 , entergy filed with the ferc the 2013 rates in accordance with the ferc 2019s orders in the system agreement proceeding .
several parties intervened in the proceeding at the ferc , including the lpsc , which also filed a protest .
the city council intervened and filed comments related to including the outcome of a related ferc proceeding in the 2013 cost equalization calculation .
in august 2013 the ferc issued an order accepting the 2013 rates , effective june 1 , 2013 , subject to refund .
after an abeyance of the proceeding schedule , in december 2014 the ferc consolidated the 2013 rate filing with the 2011 , 2012 , and 2014 rate filings for settlement and hearing procedures .
entergy corporation and subsidiaries notes to financial statements .
|
| | | payments ( receipts ) ( in millions ) |
|---:|:--------------------|:----------------------------------------|
| 0 | entergy arkansas | $ 2 |
| 1 | entergy louisiana | $ 6 |
| 2 | entergy mississippi | ( $ 4 ) |
| 3 | entergy new orleans | ( $ 1 ) |
| 4 | entergy texas | ( $ 3 ) |
|
payments ( receipts ) ( in millions ) ._| | | payments ( receipts ) ( in millions ) |
|---:|:--------------------|:----------------------------------------|
| 0 | entergy arkansas | $ 2 |
| 1 | entergy louisiana | $ 6 |
| 2 | entergy mississippi | ( $ 4 ) |
| 3 | entergy new orleans | ( $ 1 ) |
| 4 | entergy texas | ( $ 3 ) |_in september 2016 the ferc accepted the february 2016 compliance filing subject to a further compliance filing made in november 2016 .
the further compliance filing was required as a result of an order issued in september 2016 ruling on the january 2016 rehearing requests filed by the lpsc , the apsc , and entergy .
in the order addressing the rehearing requests , the ferc granted the lpsc 2019s rehearing request and directed that interest be calculated on the payment/receipt amounts .
the ferc also granted the apsc 2019s and entergy 2019s rehearing request and ordered the removal of both securitized asset accumulated deferred income taxes and contra-securitization accumulated deferred income taxes from the calculation .
in november 2016 , entergy submitted its compliance filing in response to the ferc 2019s order on rehearing .
the compliance filing included a revised refund calculation of the true-up payments and receipts based on 2009 test year data and interest calculations .
the lpsc protested the interest calculations .
in november 2017 the ferc issued an order rejecting the november 2016 compliance filing .
the ferc determined that the payments detailed in the november 2016 compliance filing did not include adequate interest for the payments from entergy arkansas to entergy louisiana because it did not include interest on the principal portion of the payment that was made in february 2016 .
in december 2017 , entergy recalculated the interest pursuant to the november 2017 order .
as a result of the recalculations , entergy arkansas owed very minor payments to entergy louisiana , entergy mississippi , and entergy new orleans .
2011 rate filing based on calendar year 2010 production costs in may 2011 , entergy filed with the ferc the 2011 rates in accordance with the ferc 2019s orders in the system agreement proceeding . a0 a0several parties intervened in the proceeding at the ferc , including the lpsc , which also filed a protest . a0 a0in july a02011 the ferc a0accepted entergy 2019s proposed rates for filing , a0effective june a01 , a02011 , a0subject to refund .
after an abeyance of the proceeding schedule , in december 2014 the ferc consolidated the 2011 rate filing with the 2012 , 2013 , and 2014 rate filings for settlement and hearing procedures .
see discussion below regarding the consolidated settlement and hearing procedures in connection with this proceeding .
2012 rate filing based on calendar year 2011 production costs in may 2012 , entergy filed with the ferc the 2012 rates in accordance with the ferc 2019s orders in the system agreement proceeding . a0 a0several parties intervened in the proceeding at the ferc , including the lpsc , which also filed a protest . a0 a0in august 2012 the ferc a0accepted entergy 2019s proposed rates for filing , a0effective june a02012 , a0subject to refund .
after an abeyance of the proceeding schedule , in december 2014 the ferc consolidated the 2012 rate filing with the 2011 , 2013 , and 2014 rate filings for settlement and hearing procedures .
see discussion below regarding the consolidated settlement and hearing procedures in connection with this proceeding .
2013 rate filing based on calendar year 2012 production costs in may 2013 , entergy filed with the ferc the 2013 rates in accordance with the ferc 2019s orders in the system agreement proceeding .
several parties intervened in the proceeding at the ferc , including the lpsc , which also filed a protest .
the city council intervened and filed comments related to including the outcome of a related ferc proceeding in the 2013 cost equalization calculation .
in august 2013 the ferc issued an order accepting the 2013 rates , effective june 1 , 2013 , subject to refund .
after an abeyance of the proceeding schedule , in december 2014 the ferc consolidated the 2013 rate filing with the 2011 , 2012 , and 2014 rate filings for settlement and hearing procedures .
entergy corporation and subsidiaries notes to financial statements .
| 2,017
| 114
|
ETR
|
Entergy
|
Utilities
|
Electric Utilities
|
New Orleans, Louisiana
|
1957-03-04
| 65,984
|
1913
| null | null |
finqa28
|
as of december 31 , 2008 what was the percent of the total accounts payable and other liabilities that was accrued wages and vacation
|
14.3%
|
divide(367, 2560)
|
when we purchase an asset , we capitalize all costs necessary to make the asset ready for its intended use .
however , many of our assets are self-constructed .
a large portion of our capital expenditures is for track structure expansion ( capacity projects ) and replacement ( program projects ) , which is typically performed by our employees .
approximately 13% ( 13 % ) of our full-time equivalent employees are dedicated to the construction of capital assets .
costs that are directly attributable or overhead costs that relate directly to capital projects are capitalized .
direct costs that are capitalized as part of self-constructed assets include material , labor , and work equipment .
indirect costs are capitalized if they clearly relate to the construction of the asset .
these costs are allocated using appropriate statistical bases .
the capitalization of indirect costs is consistent with fasb statement no .
67 , accounting for costs and initial rental operations of real estate projects .
general and administrative expenditures are expensed as incurred .
normal repairs and maintenance are also expensed as incurred , while costs incurred that extend the useful life of an asset , improve the safety of our operations or improve operating efficiency are capitalized .
assets held under capital leases are recorded at the lower of the net present value of the minimum lease payments or the fair value of the leased asset at the inception of the lease .
amortization expense is computed using the straight-line method over the shorter of the estimated useful lives of the assets or the period of the related lease .
10 .
accounts payable and other current liabilities dec .
31 , dec .
31 , millions of dollars 2008 2007 .
|
11 .
fair value measurements during the first quarter of 2008 , we fully adopted fasb statement no .
157 , fair value measurements ( fas 157 ) .
fas 157 established a framework for measuring fair value and expanded disclosures about fair value measurements .
the adoption of fas 157 had no impact on our financial position or results of operations .
fas 157 applies to all assets and liabilities that are measured and reported on a fair value basis .
this enables the reader of the financial statements to assess the inputs used to develop those measurements by establishing a hierarchy for ranking the quality and reliability of the information used to determine fair values .
the statement requires that each asset and liability carried at fair value be classified into one of the following categories : level 1 : quoted market prices in active markets for identical assets or liabilities .
level 2 : observable market based inputs or unobservable inputs that are corroborated by market data .
level 3 : unobservable inputs that are not corroborated by market data. .
|
| | millions of dollars | dec . 31 2008 | dec . 31 2007 |
|---:|:-----------------------------------------------------|:----------------|:----------------|
| 0 | accounts payable | $ 629 | $ 732 |
| 1 | accrued wages and vacation | 367 | 394 |
| 2 | accrued casualty costs | 390 | 371 |
| 3 | income and other taxes | 207 | 343 |
| 4 | dividends and interest | 328 | 284 |
| 5 | equipment rents payable | 93 | 103 |
| 6 | other | 546 | 675 |
| 7 | total accounts payable and other current liabilities | $ 2560 | $ 2902 |
|
when we purchase an asset , we capitalize all costs necessary to make the asset ready for its intended use .
however , many of our assets are self-constructed .
a large portion of our capital expenditures is for track structure expansion ( capacity projects ) and replacement ( program projects ) , which is typically performed by our employees .
approximately 13% ( 13 % ) of our full-time equivalent employees are dedicated to the construction of capital assets .
costs that are directly attributable or overhead costs that relate directly to capital projects are capitalized .
direct costs that are capitalized as part of self-constructed assets include material , labor , and work equipment .
indirect costs are capitalized if they clearly relate to the construction of the asset .
these costs are allocated using appropriate statistical bases .
the capitalization of indirect costs is consistent with fasb statement no .
67 , accounting for costs and initial rental operations of real estate projects .
general and administrative expenditures are expensed as incurred .
normal repairs and maintenance are also expensed as incurred , while costs incurred that extend the useful life of an asset , improve the safety of our operations or improve operating efficiency are capitalized .
assets held under capital leases are recorded at the lower of the net present value of the minimum lease payments or the fair value of the leased asset at the inception of the lease .
amortization expense is computed using the straight-line method over the shorter of the estimated useful lives of the assets or the period of the related lease .
10 .
accounts payable and other current liabilities dec .
31 , dec .
31 , millions of dollars 2008 2007 ._| | millions of dollars | dec . 31 2008 | dec . 31 2007 |
|---:|:-----------------------------------------------------|:----------------|:----------------|
| 0 | accounts payable | $ 629 | $ 732 |
| 1 | accrued wages and vacation | 367 | 394 |
| 2 | accrued casualty costs | 390 | 371 |
| 3 | income and other taxes | 207 | 343 |
| 4 | dividends and interest | 328 | 284 |
| 5 | equipment rents payable | 93 | 103 |
| 6 | other | 546 | 675 |
| 7 | total accounts payable and other current liabilities | $ 2560 | $ 2902 |_11 .
fair value measurements during the first quarter of 2008 , we fully adopted fasb statement no .
157 , fair value measurements ( fas 157 ) .
fas 157 established a framework for measuring fair value and expanded disclosures about fair value measurements .
the adoption of fas 157 had no impact on our financial position or results of operations .
fas 157 applies to all assets and liabilities that are measured and reported on a fair value basis .
this enables the reader of the financial statements to assess the inputs used to develop those measurements by establishing a hierarchy for ranking the quality and reliability of the information used to determine fair values .
the statement requires that each asset and liability carried at fair value be classified into one of the following categories : level 1 : quoted market prices in active markets for identical assets or liabilities .
level 2 : observable market based inputs or unobservable inputs that are corroborated by market data .
level 3 : unobservable inputs that are not corroborated by market data. .
| 2,008
| 77
|
UNP
|
Union Pacific Corporation
|
Industrials
|
Rail Transportation
|
Omaha, Nebraska
|
1957-03-04
| 100,885
|
1862
|
as of december 31 , 2008 what was the percent of the total accounts payable and other liabilities that was accrued wages and vacation
|
14.3%
|
divide(367, 2560)
|
when we purchase an asset , we capitalize all costs necessary to make the asset ready for its intended use .
however , many of our assets are self-constructed .
a large portion of our capital expenditures is for track structure expansion ( capacity projects ) and replacement ( program projects ) , which is typically performed by our employees .
approximately 13% ( 13 % ) of our full-time equivalent employees are dedicated to the construction of capital assets .
costs that are directly attributable or overhead costs that relate directly to capital projects are capitalized .
direct costs that are capitalized as part of self-constructed assets include material , labor , and work equipment .
indirect costs are capitalized if they clearly relate to the construction of the asset .
these costs are allocated using appropriate statistical bases .
the capitalization of indirect costs is consistent with fasb statement no .
67 , accounting for costs and initial rental operations of real estate projects .
general and administrative expenditures are expensed as incurred .
normal repairs and maintenance are also expensed as incurred , while costs incurred that extend the useful life of an asset , improve the safety of our operations or improve operating efficiency are capitalized .
assets held under capital leases are recorded at the lower of the net present value of the minimum lease payments or the fair value of the leased asset at the inception of the lease .
amortization expense is computed using the straight-line method over the shorter of the estimated useful lives of the assets or the period of the related lease .
10 .
accounts payable and other current liabilities dec .
31 , dec .
31 , millions of dollars 2008 2007 .
|
11 .
fair value measurements during the first quarter of 2008 , we fully adopted fasb statement no .
157 , fair value measurements ( fas 157 ) .
fas 157 established a framework for measuring fair value and expanded disclosures about fair value measurements .
the adoption of fas 157 had no impact on our financial position or results of operations .
fas 157 applies to all assets and liabilities that are measured and reported on a fair value basis .
this enables the reader of the financial statements to assess the inputs used to develop those measurements by establishing a hierarchy for ranking the quality and reliability of the information used to determine fair values .
the statement requires that each asset and liability carried at fair value be classified into one of the following categories : level 1 : quoted market prices in active markets for identical assets or liabilities .
level 2 : observable market based inputs or unobservable inputs that are corroborated by market data .
level 3 : unobservable inputs that are not corroborated by market data. .
|
| | millions of dollars | dec . 31 2008 | dec . 31 2007 |
|---:|:-----------------------------------------------------|:----------------|:----------------|
| 0 | accounts payable | $ 629 | $ 732 |
| 1 | accrued wages and vacation | 367 | 394 |
| 2 | accrued casualty costs | 390 | 371 |
| 3 | income and other taxes | 207 | 343 |
| 4 | dividends and interest | 328 | 284 |
| 5 | equipment rents payable | 93 | 103 |
| 6 | other | 546 | 675 |
| 7 | total accounts payable and other current liabilities | $ 2560 | $ 2902 |
|
when we purchase an asset , we capitalize all costs necessary to make the asset ready for its intended use .
however , many of our assets are self-constructed .
a large portion of our capital expenditures is for track structure expansion ( capacity projects ) and replacement ( program projects ) , which is typically performed by our employees .
approximately 13% ( 13 % ) of our full-time equivalent employees are dedicated to the construction of capital assets .
costs that are directly attributable or overhead costs that relate directly to capital projects are capitalized .
direct costs that are capitalized as part of self-constructed assets include material , labor , and work equipment .
indirect costs are capitalized if they clearly relate to the construction of the asset .
these costs are allocated using appropriate statistical bases .
the capitalization of indirect costs is consistent with fasb statement no .
67 , accounting for costs and initial rental operations of real estate projects .
general and administrative expenditures are expensed as incurred .
normal repairs and maintenance are also expensed as incurred , while costs incurred that extend the useful life of an asset , improve the safety of our operations or improve operating efficiency are capitalized .
assets held under capital leases are recorded at the lower of the net present value of the minimum lease payments or the fair value of the leased asset at the inception of the lease .
amortization expense is computed using the straight-line method over the shorter of the estimated useful lives of the assets or the period of the related lease .
10 .
accounts payable and other current liabilities dec .
31 , dec .
31 , millions of dollars 2008 2007 ._| | millions of dollars | dec . 31 2008 | dec . 31 2007 |
|---:|:-----------------------------------------------------|:----------------|:----------------|
| 0 | accounts payable | $ 629 | $ 732 |
| 1 | accrued wages and vacation | 367 | 394 |
| 2 | accrued casualty costs | 390 | 371 |
| 3 | income and other taxes | 207 | 343 |
| 4 | dividends and interest | 328 | 284 |
| 5 | equipment rents payable | 93 | 103 |
| 6 | other | 546 | 675 |
| 7 | total accounts payable and other current liabilities | $ 2560 | $ 2902 |_11 .
fair value measurements during the first quarter of 2008 , we fully adopted fasb statement no .
157 , fair value measurements ( fas 157 ) .
fas 157 established a framework for measuring fair value and expanded disclosures about fair value measurements .
the adoption of fas 157 had no impact on our financial position or results of operations .
fas 157 applies to all assets and liabilities that are measured and reported on a fair value basis .
this enables the reader of the financial statements to assess the inputs used to develop those measurements by establishing a hierarchy for ranking the quality and reliability of the information used to determine fair values .
the statement requires that each asset and liability carried at fair value be classified into one of the following categories : level 1 : quoted market prices in active markets for identical assets or liabilities .
level 2 : observable market based inputs or unobservable inputs that are corroborated by market data .
level 3 : unobservable inputs that are not corroborated by market data. .
| 2,008
| 77
|
UNP
|
Union Pacific Corporation
|
Industrials
|
Rail Transportation
|
Omaha, Nebraska
|
1957-03-04
| 100,885
|
1862
| null | null |
finqa29
|
for the period ending in 2016 , what was the average amount of settlements , in millions?
|
11.3
|
table_average(settlements, none)
|
the aes corporation notes to consolidated financial statements 2014 ( continued ) december 31 , 2016 , 2015 , and 2014 the following is a reconciliation of the beginning and ending amounts of unrecognized tax benefits for the periods indicated ( in millions ) : .
|
the company and certain of its subsidiaries are currently under examination by the relevant taxing authorities for various tax years .
the company regularly assesses the potential outcome of these examinations in each of the taxing jurisdictions when determining the adequacy of the amount of unrecognized tax benefit recorded .
while it is often difficult to predict the final outcome or the timing of resolution of any particular uncertain tax position , we believe we have appropriately accrued for our uncertain tax benefits .
however , audit outcomes and the timing of audit settlements and future events that would impact our previously recorded unrecognized tax benefits and the range of anticipated increases or decreases in unrecognized tax benefits are subject to significant uncertainty .
it is possible that the ultimate outcome of current or future examinations may exceed our provision for current unrecognized tax benefits in amounts that could be material , but cannot be estimated as of december 31 , 2016 .
our effective tax rate and net income in any given future period could therefore be materially impacted .
22 .
discontinued operations brazil distribution 2014 due to a portfolio evaluation in the first half of 2016 , management has decided to pursue a strategic shift of its distribution companies in brazil , aes sul and eletropaulo .
the disposal of sul was completed in october 2016 .
in december 2016 , eletropaulo underwent a corporate restructuring which is expected to , among other things , provide more liquidity of its shares .
aes is continuing to pursue strategic options for eletropaulo in order to complete its strategic shift to reduce aes 2019 exposure to the brazilian distribution business , including preparation for listing its shares into the novo mercado , which is a listing segment of the brazilian stock exchange with the highest standards of corporate governance .
the company executed an agreement for the sale of its wholly-owned subsidiary aes sul in june 2016 .
we have reported the results of operations and financial position of aes sul as discontinued operations in the consolidated financial statements for all periods presented .
upon meeting the held-for-sale criteria , the company recognized an after tax loss of $ 382 million comprised of a pretax impairment charge of $ 783 million , offset by a tax benefit of $ 266 million related to the impairment of the sul long lived assets and a tax benefit of $ 135 million for deferred taxes related to the investment in aes sul .
prior to the impairment charge in the second quarter , the carrying value of the aes sul asset group of $ 1.6 billion was greater than its approximate fair value less costs to sell .
however , the impairment charge was limited to the carrying value of the long lived assets of the aes sul disposal group .
on october 31 , 2016 , the company completed the sale of aes sul and received final proceeds less costs to sell of $ 484 million , excluding contingent consideration .
upon disposal of aes sul , we incurred an additional after- tax loss on sale of $ 737 million .
the cumulative impact to earnings of the impairment and loss on sale was $ 1.1 billion .
this includes the reclassification of approximately $ 1 billion of cumulative translation losses , resulting in a net reduction to the company 2019s stockholders 2019 equity of $ 92 million .
sul 2019s pretax loss attributable to aes for the years ended december 31 , 2016 and 2015 was $ 1.4 billion and $ 32 million , respectively .
sul 2019s pretax gain attributable to aes for the year ended december 31 , 2014 was $ 133 million .
prior to its classification as discontinued operations , sul was reported in the brazil sbu reportable segment .
as discussed in note 1 2014general and summary of significant accounting policies , effective july 1 , 2014 , the company prospectively adopted asu no .
2014-08 .
discontinued operations prior to adoption of asu no .
2014-08 include the results of cameroon , saurashtra and various u.s .
wind projects which were each sold in the first half of cameroon 2014 in september 2013 , the company executed agreements for the sale of its 56% ( 56 % ) equity interests in businesses in cameroon : sonel , an integrated utility , kribi , a gas and light fuel oil plant , and dibamba , a heavy .
|
| | december 31, | 2016 | 2015 | 2014 |
|---:|:--------------------------------------------|:-----------|:-----------|:-----------|
| 0 | balance at january 1 | $ 373 | $ 394 | $ 392 |
| 1 | additions for current year tax positions | 8 | 7 | 7 |
| 2 | additions for tax positions of prior years | 1 | 12 | 14 |
| 3 | reductions for tax positions of prior years | -1 ( 1 ) | -7 ( 7 ) | -2 ( 2 ) |
| 4 | effects of foreign currency translation | 2 | -7 ( 7 ) | -3 ( 3 ) |
| 5 | settlements | -13 ( 13 ) | -19 ( 19 ) | -2 ( 2 ) |
| 6 | lapse of statute of limitations | -1 ( 1 ) | -7 ( 7 ) | -12 ( 12 ) |
| 7 | balance at december 31 | $ 369 | $ 373 | $ 394 |
|
the aes corporation notes to consolidated financial statements 2014 ( continued ) december 31 , 2016 , 2015 , and 2014 the following is a reconciliation of the beginning and ending amounts of unrecognized tax benefits for the periods indicated ( in millions ) : ._| | december 31, | 2016 | 2015 | 2014 |
|---:|:--------------------------------------------|:-----------|:-----------|:-----------|
| 0 | balance at january 1 | $ 373 | $ 394 | $ 392 |
| 1 | additions for current year tax positions | 8 | 7 | 7 |
| 2 | additions for tax positions of prior years | 1 | 12 | 14 |
| 3 | reductions for tax positions of prior years | -1 ( 1 ) | -7 ( 7 ) | -2 ( 2 ) |
| 4 | effects of foreign currency translation | 2 | -7 ( 7 ) | -3 ( 3 ) |
| 5 | settlements | -13 ( 13 ) | -19 ( 19 ) | -2 ( 2 ) |
| 6 | lapse of statute of limitations | -1 ( 1 ) | -7 ( 7 ) | -12 ( 12 ) |
| 7 | balance at december 31 | $ 369 | $ 373 | $ 394 |_the company and certain of its subsidiaries are currently under examination by the relevant taxing authorities for various tax years .
the company regularly assesses the potential outcome of these examinations in each of the taxing jurisdictions when determining the adequacy of the amount of unrecognized tax benefit recorded .
while it is often difficult to predict the final outcome or the timing of resolution of any particular uncertain tax position , we believe we have appropriately accrued for our uncertain tax benefits .
however , audit outcomes and the timing of audit settlements and future events that would impact our previously recorded unrecognized tax benefits and the range of anticipated increases or decreases in unrecognized tax benefits are subject to significant uncertainty .
it is possible that the ultimate outcome of current or future examinations may exceed our provision for current unrecognized tax benefits in amounts that could be material , but cannot be estimated as of december 31 , 2016 .
our effective tax rate and net income in any given future period could therefore be materially impacted .
22 .
discontinued operations brazil distribution 2014 due to a portfolio evaluation in the first half of 2016 , management has decided to pursue a strategic shift of its distribution companies in brazil , aes sul and eletropaulo .
the disposal of sul was completed in october 2016 .
in december 2016 , eletropaulo underwent a corporate restructuring which is expected to , among other things , provide more liquidity of its shares .
aes is continuing to pursue strategic options for eletropaulo in order to complete its strategic shift to reduce aes 2019 exposure to the brazilian distribution business , including preparation for listing its shares into the novo mercado , which is a listing segment of the brazilian stock exchange with the highest standards of corporate governance .
the company executed an agreement for the sale of its wholly-owned subsidiary aes sul in june 2016 .
we have reported the results of operations and financial position of aes sul as discontinued operations in the consolidated financial statements for all periods presented .
upon meeting the held-for-sale criteria , the company recognized an after tax loss of $ 382 million comprised of a pretax impairment charge of $ 783 million , offset by a tax benefit of $ 266 million related to the impairment of the sul long lived assets and a tax benefit of $ 135 million for deferred taxes related to the investment in aes sul .
prior to the impairment charge in the second quarter , the carrying value of the aes sul asset group of $ 1.6 billion was greater than its approximate fair value less costs to sell .
however , the impairment charge was limited to the carrying value of the long lived assets of the aes sul disposal group .
on october 31 , 2016 , the company completed the sale of aes sul and received final proceeds less costs to sell of $ 484 million , excluding contingent consideration .
upon disposal of aes sul , we incurred an additional after- tax loss on sale of $ 737 million .
the cumulative impact to earnings of the impairment and loss on sale was $ 1.1 billion .
this includes the reclassification of approximately $ 1 billion of cumulative translation losses , resulting in a net reduction to the company 2019s stockholders 2019 equity of $ 92 million .
sul 2019s pretax loss attributable to aes for the years ended december 31 , 2016 and 2015 was $ 1.4 billion and $ 32 million , respectively .
sul 2019s pretax gain attributable to aes for the year ended december 31 , 2014 was $ 133 million .
prior to its classification as discontinued operations , sul was reported in the brazil sbu reportable segment .
as discussed in note 1 2014general and summary of significant accounting policies , effective july 1 , 2014 , the company prospectively adopted asu no .
2014-08 .
discontinued operations prior to adoption of asu no .
2014-08 include the results of cameroon , saurashtra and various u.s .
wind projects which were each sold in the first half of cameroon 2014 in september 2013 , the company executed agreements for the sale of its 56% ( 56 % ) equity interests in businesses in cameroon : sonel , an integrated utility , kribi , a gas and light fuel oil plant , and dibamba , a heavy .
| 2,016
| 191
|
AES
|
AES Corporation
|
Utilities
|
Independent Power Producers & Energy Traders
|
Arlington, Virginia
|
1998-10-02
| 874,761
|
1981
|
for the period ending in 2016 , what was the average amount of settlements , in millions?
|
11.3
|
table_average(settlements, none)
|
the aes corporation notes to consolidated financial statements 2014 ( continued ) december 31 , 2016 , 2015 , and 2014 the following is a reconciliation of the beginning and ending amounts of unrecognized tax benefits for the periods indicated ( in millions ) : .
|
the company and certain of its subsidiaries are currently under examination by the relevant taxing authorities for various tax years .
the company regularly assesses the potential outcome of these examinations in each of the taxing jurisdictions when determining the adequacy of the amount of unrecognized tax benefit recorded .
while it is often difficult to predict the final outcome or the timing of resolution of any particular uncertain tax position , we believe we have appropriately accrued for our uncertain tax benefits .
however , audit outcomes and the timing of audit settlements and future events that would impact our previously recorded unrecognized tax benefits and the range of anticipated increases or decreases in unrecognized tax benefits are subject to significant uncertainty .
it is possible that the ultimate outcome of current or future examinations may exceed our provision for current unrecognized tax benefits in amounts that could be material , but cannot be estimated as of december 31 , 2016 .
our effective tax rate and net income in any given future period could therefore be materially impacted .
22 .
discontinued operations brazil distribution 2014 due to a portfolio evaluation in the first half of 2016 , management has decided to pursue a strategic shift of its distribution companies in brazil , aes sul and eletropaulo .
the disposal of sul was completed in october 2016 .
in december 2016 , eletropaulo underwent a corporate restructuring which is expected to , among other things , provide more liquidity of its shares .
aes is continuing to pursue strategic options for eletropaulo in order to complete its strategic shift to reduce aes 2019 exposure to the brazilian distribution business , including preparation for listing its shares into the novo mercado , which is a listing segment of the brazilian stock exchange with the highest standards of corporate governance .
the company executed an agreement for the sale of its wholly-owned subsidiary aes sul in june 2016 .
we have reported the results of operations and financial position of aes sul as discontinued operations in the consolidated financial statements for all periods presented .
upon meeting the held-for-sale criteria , the company recognized an after tax loss of $ 382 million comprised of a pretax impairment charge of $ 783 million , offset by a tax benefit of $ 266 million related to the impairment of the sul long lived assets and a tax benefit of $ 135 million for deferred taxes related to the investment in aes sul .
prior to the impairment charge in the second quarter , the carrying value of the aes sul asset group of $ 1.6 billion was greater than its approximate fair value less costs to sell .
however , the impairment charge was limited to the carrying value of the long lived assets of the aes sul disposal group .
on october 31 , 2016 , the company completed the sale of aes sul and received final proceeds less costs to sell of $ 484 million , excluding contingent consideration .
upon disposal of aes sul , we incurred an additional after- tax loss on sale of $ 737 million .
the cumulative impact to earnings of the impairment and loss on sale was $ 1.1 billion .
this includes the reclassification of approximately $ 1 billion of cumulative translation losses , resulting in a net reduction to the company 2019s stockholders 2019 equity of $ 92 million .
sul 2019s pretax loss attributable to aes for the years ended december 31 , 2016 and 2015 was $ 1.4 billion and $ 32 million , respectively .
sul 2019s pretax gain attributable to aes for the year ended december 31 , 2014 was $ 133 million .
prior to its classification as discontinued operations , sul was reported in the brazil sbu reportable segment .
as discussed in note 1 2014general and summary of significant accounting policies , effective july 1 , 2014 , the company prospectively adopted asu no .
2014-08 .
discontinued operations prior to adoption of asu no .
2014-08 include the results of cameroon , saurashtra and various u.s .
wind projects which were each sold in the first half of cameroon 2014 in september 2013 , the company executed agreements for the sale of its 56% ( 56 % ) equity interests in businesses in cameroon : sonel , an integrated utility , kribi , a gas and light fuel oil plant , and dibamba , a heavy .
|
| | december 31, | 2016 | 2015 | 2014 |
|---:|:--------------------------------------------|:-----------|:-----------|:-----------|
| 0 | balance at january 1 | $ 373 | $ 394 | $ 392 |
| 1 | additions for current year tax positions | 8 | 7 | 7 |
| 2 | additions for tax positions of prior years | 1 | 12 | 14 |
| 3 | reductions for tax positions of prior years | -1 ( 1 ) | -7 ( 7 ) | -2 ( 2 ) |
| 4 | effects of foreign currency translation | 2 | -7 ( 7 ) | -3 ( 3 ) |
| 5 | settlements | -13 ( 13 ) | -19 ( 19 ) | -2 ( 2 ) |
| 6 | lapse of statute of limitations | -1 ( 1 ) | -7 ( 7 ) | -12 ( 12 ) |
| 7 | balance at december 31 | $ 369 | $ 373 | $ 394 |
|
the aes corporation notes to consolidated financial statements 2014 ( continued ) december 31 , 2016 , 2015 , and 2014 the following is a reconciliation of the beginning and ending amounts of unrecognized tax benefits for the periods indicated ( in millions ) : ._| | december 31, | 2016 | 2015 | 2014 |
|---:|:--------------------------------------------|:-----------|:-----------|:-----------|
| 0 | balance at january 1 | $ 373 | $ 394 | $ 392 |
| 1 | additions for current year tax positions | 8 | 7 | 7 |
| 2 | additions for tax positions of prior years | 1 | 12 | 14 |
| 3 | reductions for tax positions of prior years | -1 ( 1 ) | -7 ( 7 ) | -2 ( 2 ) |
| 4 | effects of foreign currency translation | 2 | -7 ( 7 ) | -3 ( 3 ) |
| 5 | settlements | -13 ( 13 ) | -19 ( 19 ) | -2 ( 2 ) |
| 6 | lapse of statute of limitations | -1 ( 1 ) | -7 ( 7 ) | -12 ( 12 ) |
| 7 | balance at december 31 | $ 369 | $ 373 | $ 394 |_the company and certain of its subsidiaries are currently under examination by the relevant taxing authorities for various tax years .
the company regularly assesses the potential outcome of these examinations in each of the taxing jurisdictions when determining the adequacy of the amount of unrecognized tax benefit recorded .
while it is often difficult to predict the final outcome or the timing of resolution of any particular uncertain tax position , we believe we have appropriately accrued for our uncertain tax benefits .
however , audit outcomes and the timing of audit settlements and future events that would impact our previously recorded unrecognized tax benefits and the range of anticipated increases or decreases in unrecognized tax benefits are subject to significant uncertainty .
it is possible that the ultimate outcome of current or future examinations may exceed our provision for current unrecognized tax benefits in amounts that could be material , but cannot be estimated as of december 31 , 2016 .
our effective tax rate and net income in any given future period could therefore be materially impacted .
22 .
discontinued operations brazil distribution 2014 due to a portfolio evaluation in the first half of 2016 , management has decided to pursue a strategic shift of its distribution companies in brazil , aes sul and eletropaulo .
the disposal of sul was completed in october 2016 .
in december 2016 , eletropaulo underwent a corporate restructuring which is expected to , among other things , provide more liquidity of its shares .
aes is continuing to pursue strategic options for eletropaulo in order to complete its strategic shift to reduce aes 2019 exposure to the brazilian distribution business , including preparation for listing its shares into the novo mercado , which is a listing segment of the brazilian stock exchange with the highest standards of corporate governance .
the company executed an agreement for the sale of its wholly-owned subsidiary aes sul in june 2016 .
we have reported the results of operations and financial position of aes sul as discontinued operations in the consolidated financial statements for all periods presented .
upon meeting the held-for-sale criteria , the company recognized an after tax loss of $ 382 million comprised of a pretax impairment charge of $ 783 million , offset by a tax benefit of $ 266 million related to the impairment of the sul long lived assets and a tax benefit of $ 135 million for deferred taxes related to the investment in aes sul .
prior to the impairment charge in the second quarter , the carrying value of the aes sul asset group of $ 1.6 billion was greater than its approximate fair value less costs to sell .
however , the impairment charge was limited to the carrying value of the long lived assets of the aes sul disposal group .
on october 31 , 2016 , the company completed the sale of aes sul and received final proceeds less costs to sell of $ 484 million , excluding contingent consideration .
upon disposal of aes sul , we incurred an additional after- tax loss on sale of $ 737 million .
the cumulative impact to earnings of the impairment and loss on sale was $ 1.1 billion .
this includes the reclassification of approximately $ 1 billion of cumulative translation losses , resulting in a net reduction to the company 2019s stockholders 2019 equity of $ 92 million .
sul 2019s pretax loss attributable to aes for the years ended december 31 , 2016 and 2015 was $ 1.4 billion and $ 32 million , respectively .
sul 2019s pretax gain attributable to aes for the year ended december 31 , 2014 was $ 133 million .
prior to its classification as discontinued operations , sul was reported in the brazil sbu reportable segment .
as discussed in note 1 2014general and summary of significant accounting policies , effective july 1 , 2014 , the company prospectively adopted asu no .
2014-08 .
discontinued operations prior to adoption of asu no .
2014-08 include the results of cameroon , saurashtra and various u.s .
wind projects which were each sold in the first half of cameroon 2014 in september 2013 , the company executed agreements for the sale of its 56% ( 56 % ) equity interests in businesses in cameroon : sonel , an integrated utility , kribi , a gas and light fuel oil plant , and dibamba , a heavy .
| 2,016
| 191
|
AES
|
AES Corporation
|
Utilities
|
Independent Power Producers & Energy Traders
|
Arlington, Virginia
|
1998-10-02
| 874,761
|
1981
| null | null |
finqa30
|
what percentage of total future principal payments of corporate debt are due after 2012?
|
87%
|
divide(2996337, 3450152)
|
before the purchase in november 2008 , the units will be reflected in diluted earnings per share calculations using the treasury stock method as defined by sfas no .
128 , earnings per share .
under this method , the number of shares of common stock used in calculating diluted earnings per share ( based on the settlement formula applied at the end of the reporting period ) is deemed to be increased by the excess , if any , of the number of shares that would be issued upon settlement of the purchase contracts less the number of shares that could be purchased by the company in the market at the average market price during the period using the proceeds to be received upon settlement .
therefore , dilution will occur for periods when the average market price of the company 2019s common stock for the reporting period is above $ 21.816 .
senior secured revolving credit facility in september 2005 , the company entered into a $ 250 million , three-year senior secured revolving credit facility .
as a result of the citadel investment in november 2007 , the facility was terminated and all unamortized debt issuance costs were expensed .
corporate debt covenants certain of the company 2019s corporate debt described above have terms which include customary financial covenants .
as of december 31 , 2007 , the company was in compliance with all such covenants .
early extinguishment of debt in 2006 , the company called the entire remaining $ 185.2 million principal amount of its 6% ( 6 % ) notes for redemption .
the company recorded a $ 0.7 million loss on early extinguishment of debt relating to the write-off of the unamortized debt offering costs .
the company did not have any early extinguishments of debt in 2005 .
other corporate debt the company also has multiple term loans from financial institutions .
these loans are collateralized by equipment and are included within other borrowings on the consolidated balance sheet .
see note 14 2014securities sold under agreement to repurchase and other borrowings .
future maturities of corporate debt scheduled principal payments of corporate debt as of december 31 , 2007 are as follows ( dollars in thousands ) : years ending december 31 .
|
.
|
| | 2008 | $ 2014 |
|---:|:--------------------------------------------------|:-------------------|
| 0 | 2009 | 2014 |
| 1 | 2010 | 2014 |
| 2 | 2011 | 453815 |
| 3 | 2012 | 2014 |
| 4 | thereafter | 2996337 |
| 5 | total future principal payments of corporate debt | 3450152 |
| 6 | unamortized discount net | -427454 ( 427454 ) |
| 7 | total corporate debt | $ 3022698 |
|
before the purchase in november 2008 , the units will be reflected in diluted earnings per share calculations using the treasury stock method as defined by sfas no .
128 , earnings per share .
under this method , the number of shares of common stock used in calculating diluted earnings per share ( based on the settlement formula applied at the end of the reporting period ) is deemed to be increased by the excess , if any , of the number of shares that would be issued upon settlement of the purchase contracts less the number of shares that could be purchased by the company in the market at the average market price during the period using the proceeds to be received upon settlement .
therefore , dilution will occur for periods when the average market price of the company 2019s common stock for the reporting period is above $ 21.816 .
senior secured revolving credit facility in september 2005 , the company entered into a $ 250 million , three-year senior secured revolving credit facility .
as a result of the citadel investment in november 2007 , the facility was terminated and all unamortized debt issuance costs were expensed .
corporate debt covenants certain of the company 2019s corporate debt described above have terms which include customary financial covenants .
as of december 31 , 2007 , the company was in compliance with all such covenants .
early extinguishment of debt in 2006 , the company called the entire remaining $ 185.2 million principal amount of its 6% ( 6 % ) notes for redemption .
the company recorded a $ 0.7 million loss on early extinguishment of debt relating to the write-off of the unamortized debt offering costs .
the company did not have any early extinguishments of debt in 2005 .
other corporate debt the company also has multiple term loans from financial institutions .
these loans are collateralized by equipment and are included within other borrowings on the consolidated balance sheet .
see note 14 2014securities sold under agreement to repurchase and other borrowings .
future maturities of corporate debt scheduled principal payments of corporate debt as of december 31 , 2007 are as follows ( dollars in thousands ) : years ending december 31 ._| | 2008 | $ 2014 |
|---:|:--------------------------------------------------|:-------------------|
| 0 | 2009 | 2014 |
| 1 | 2010 | 2014 |
| 2 | 2011 | 453815 |
| 3 | 2012 | 2014 |
| 4 | thereafter | 2996337 |
| 5 | total future principal payments of corporate debt | 3450152 |
| 6 | unamortized discount net | -427454 ( 427454 ) |
| 7 | total corporate debt | $ 3022698 |_.
| 2,007
| 126
|
ETFC
|
E*TRADE Financial Corporation
|
Financials
|
Investment Banking & Brokerage
|
Arlington, VA
|
2004-01-01
| 1,015,780
|
1982
|
what percentage of total future principal payments of corporate debt are due after 2012?
|
87%
|
divide(2996337, 3450152)
|
before the purchase in november 2008 , the units will be reflected in diluted earnings per share calculations using the treasury stock method as defined by sfas no .
128 , earnings per share .
under this method , the number of shares of common stock used in calculating diluted earnings per share ( based on the settlement formula applied at the end of the reporting period ) is deemed to be increased by the excess , if any , of the number of shares that would be issued upon settlement of the purchase contracts less the number of shares that could be purchased by the company in the market at the average market price during the period using the proceeds to be received upon settlement .
therefore , dilution will occur for periods when the average market price of the company 2019s common stock for the reporting period is above $ 21.816 .
senior secured revolving credit facility in september 2005 , the company entered into a $ 250 million , three-year senior secured revolving credit facility .
as a result of the citadel investment in november 2007 , the facility was terminated and all unamortized debt issuance costs were expensed .
corporate debt covenants certain of the company 2019s corporate debt described above have terms which include customary financial covenants .
as of december 31 , 2007 , the company was in compliance with all such covenants .
early extinguishment of debt in 2006 , the company called the entire remaining $ 185.2 million principal amount of its 6% ( 6 % ) notes for redemption .
the company recorded a $ 0.7 million loss on early extinguishment of debt relating to the write-off of the unamortized debt offering costs .
the company did not have any early extinguishments of debt in 2005 .
other corporate debt the company also has multiple term loans from financial institutions .
these loans are collateralized by equipment and are included within other borrowings on the consolidated balance sheet .
see note 14 2014securities sold under agreement to repurchase and other borrowings .
future maturities of corporate debt scheduled principal payments of corporate debt as of december 31 , 2007 are as follows ( dollars in thousands ) : years ending december 31 .
|
.
|
| | 2008 | $ 2014 |
|---:|:--------------------------------------------------|:-------------------|
| 0 | 2009 | 2014 |
| 1 | 2010 | 2014 |
| 2 | 2011 | 453815 |
| 3 | 2012 | 2014 |
| 4 | thereafter | 2996337 |
| 5 | total future principal payments of corporate debt | 3450152 |
| 6 | unamortized discount net | -427454 ( 427454 ) |
| 7 | total corporate debt | $ 3022698 |
|
before the purchase in november 2008 , the units will be reflected in diluted earnings per share calculations using the treasury stock method as defined by sfas no .
128 , earnings per share .
under this method , the number of shares of common stock used in calculating diluted earnings per share ( based on the settlement formula applied at the end of the reporting period ) is deemed to be increased by the excess , if any , of the number of shares that would be issued upon settlement of the purchase contracts less the number of shares that could be purchased by the company in the market at the average market price during the period using the proceeds to be received upon settlement .
therefore , dilution will occur for periods when the average market price of the company 2019s common stock for the reporting period is above $ 21.816 .
senior secured revolving credit facility in september 2005 , the company entered into a $ 250 million , three-year senior secured revolving credit facility .
as a result of the citadel investment in november 2007 , the facility was terminated and all unamortized debt issuance costs were expensed .
corporate debt covenants certain of the company 2019s corporate debt described above have terms which include customary financial covenants .
as of december 31 , 2007 , the company was in compliance with all such covenants .
early extinguishment of debt in 2006 , the company called the entire remaining $ 185.2 million principal amount of its 6% ( 6 % ) notes for redemption .
the company recorded a $ 0.7 million loss on early extinguishment of debt relating to the write-off of the unamortized debt offering costs .
the company did not have any early extinguishments of debt in 2005 .
other corporate debt the company also has multiple term loans from financial institutions .
these loans are collateralized by equipment and are included within other borrowings on the consolidated balance sheet .
see note 14 2014securities sold under agreement to repurchase and other borrowings .
future maturities of corporate debt scheduled principal payments of corporate debt as of december 31 , 2007 are as follows ( dollars in thousands ) : years ending december 31 ._| | 2008 | $ 2014 |
|---:|:--------------------------------------------------|:-------------------|
| 0 | 2009 | 2014 |
| 1 | 2010 | 2014 |
| 2 | 2011 | 453815 |
| 3 | 2012 | 2014 |
| 4 | thereafter | 2996337 |
| 5 | total future principal payments of corporate debt | 3450152 |
| 6 | unamortized discount net | -427454 ( 427454 ) |
| 7 | total corporate debt | $ 3022698 |_.
| 2,007
| 126
|
ETFC
|
E*TRADE Financial Corporation
|
Financials
|
Investment Banking & Brokerage
|
Arlington, VA
|
2004-01-01
| 1,015,780
|
1982
| null | null |
finqa31
|
what was the percentage change in total net goodwill between 2010 and 2011?
|
-21%
|
divide(subtract(1891, 2383), 2383)
|
masco corporation notes to consolidated financial statements ( continued ) h .
goodwill and other intangible assets ( continued ) goodwill at december 31 , accumulated impairment losses goodwill at december 31 , 2010 additions ( a ) discontinued operations ( b ) pre-tax impairment charge other ( c ) goodwill at december 31 , cabinets and related products .
.
.
.
.
.
.
.
.
.
.
$ 587 $ ( 364 ) $ 223 $ 2014 $ 2014 $ ( 44 ) $ 2 $ 181 .
|
( a ) additions include acquisitions .
( b ) during 2011 , the company reclassified the goodwill related to the business units held for sale .
subsequent to the reclassification , the company recognized a charge for those business units expected to be divested at a loss ; the charge included a write-down of goodwill of $ 13 million .
( c ) other principally includes the effect of foreign currency translation and purchase price adjustments related to prior-year acquisitions .
in the fourth quarters of 2012 and 2011 , the company completed its annual impairment testing of goodwill and other indefinite-lived intangible assets .
the impairment test in 2012 indicated there was no impairment of goodwill for any of the company 2019s reporting units .
the impairment test in 2011 indicated that goodwill recorded for certain of the company 2019s reporting units was impaired .
the company recognized the non-cash , pre-tax impairment charges , in continuing operations , for goodwill of $ 486 million ( $ 330 million , after tax ) for 2011 .
in 2011 , the pre-tax impairment charge in the cabinets and related products segment relates to the european ready-to- assemble cabinet manufacturer and reflects the declining demand for certain products , as well as decreased operating margins .
the pre-tax impairment charge in the decorative architectural products segment relates to the builders 2019 hardware business and reflects increasing competitive conditions for that business .
the pre-tax impairment charge in the other specialty products segment relates to the north american window and door business and reflects the continuing weak level of new home construction activity in the western u.s. , the reduced levels of repair and remodel activity and the expectation that recovery in these segments will be modestly slower than anticipated .
the company then assessed the long-lived assets associated with these business units and determined no impairment was necessary at december 31 , 2011 .
other indefinite-lived intangible assets were $ 132 million and $ 174 million at december 31 , 2012 and 2011 , respectively , and principally included registered trademarks .
in 2012 and 2011 , the impairment test indicated that the registered trademark for a north american business unit in the other specialty products segment and the registered trademark for a north american business unit in the plumbing products segment ( 2011 only ) were impaired due to changes in the long-term outlook for the business units .
the company recognized non-cash , pre-tax impairment charges for other indefinite- lived intangible assets of $ 42 million ( $ 27 million , after tax ) and $ 8 million ( $ 5 million , after tax ) in 2012 and 2011 , respectively .
in 2010 , the company recognized non-cash , pre-tax impairment charges for other indefinite-lived intangible assets of $ 10 million ( $ 6 million after tax ) related to the installation and other services segment ( $ 9 million pre-tax ) and the plumbing products segment ( $ 1 million pre-tax ) . .
|
| | | gross goodwill at december 31 2010 | accumulated impairment losses | net goodwill at december 31 2010 | additions ( a ) | discontinued operations ( b ) | pre-tax impairment charge | other ( c ) | net goodwill at december 31 2011 |
|---:|:----------------------------------|:-------------------------------------|:--------------------------------|:-----------------------------------|:------------------|:--------------------------------|:----------------------------|:--------------|:-----------------------------------|
| 0 | cabinets and related products | $ 587 | $ -364 ( 364 ) | $ 223 | $ 2014 | $ 2014 | $ -44 ( 44 ) | $ 2 | $ 181 |
| 1 | plumbing products | 536 | -340 ( 340 ) | 196 | 9 | 2014 | 2014 | -4 ( 4 ) | 201 |
| 2 | installation and other services | 1819 | -762 ( 762 ) | 1057 | 2014 | -13 ( 13 ) | 2014 | 2014 | 1044 |
| 3 | decorative architectural products | 294 | 2014 | 294 | 2014 | 2014 | -75 ( 75 ) | 2014 | 219 |
| 4 | other specialty products | 980 | -367 ( 367 ) | 613 | 2014 | 2014 | -367 ( 367 ) | 2014 | 246 |
| 5 | total | $ 4216 | $ -1833 ( 1833 ) | $ 2383 | $ 9 | $ -13 ( 13 ) | $ -486 ( 486 ) | $ -2 ( 2 ) | $ 1891 |
|
masco corporation notes to consolidated financial statements ( continued ) h .
goodwill and other intangible assets ( continued ) goodwill at december 31 , accumulated impairment losses goodwill at december 31 , 2010 additions ( a ) discontinued operations ( b ) pre-tax impairment charge other ( c ) goodwill at december 31 , cabinets and related products .
.
.
.
.
.
.
.
.
.
.
$ 587 $ ( 364 ) $ 223 $ 2014 $ 2014 $ ( 44 ) $ 2 $ 181 ._| | | gross goodwill at december 31 2010 | accumulated impairment losses | net goodwill at december 31 2010 | additions ( a ) | discontinued operations ( b ) | pre-tax impairment charge | other ( c ) | net goodwill at december 31 2011 |
|---:|:----------------------------------|:-------------------------------------|:--------------------------------|:-----------------------------------|:------------------|:--------------------------------|:----------------------------|:--------------|:-----------------------------------|
| 0 | cabinets and related products | $ 587 | $ -364 ( 364 ) | $ 223 | $ 2014 | $ 2014 | $ -44 ( 44 ) | $ 2 | $ 181 |
| 1 | plumbing products | 536 | -340 ( 340 ) | 196 | 9 | 2014 | 2014 | -4 ( 4 ) | 201 |
| 2 | installation and other services | 1819 | -762 ( 762 ) | 1057 | 2014 | -13 ( 13 ) | 2014 | 2014 | 1044 |
| 3 | decorative architectural products | 294 | 2014 | 294 | 2014 | 2014 | -75 ( 75 ) | 2014 | 219 |
| 4 | other specialty products | 980 | -367 ( 367 ) | 613 | 2014 | 2014 | -367 ( 367 ) | 2014 | 246 |
| 5 | total | $ 4216 | $ -1833 ( 1833 ) | $ 2383 | $ 9 | $ -13 ( 13 ) | $ -486 ( 486 ) | $ -2 ( 2 ) | $ 1891 |_( a ) additions include acquisitions .
( b ) during 2011 , the company reclassified the goodwill related to the business units held for sale .
subsequent to the reclassification , the company recognized a charge for those business units expected to be divested at a loss ; the charge included a write-down of goodwill of $ 13 million .
( c ) other principally includes the effect of foreign currency translation and purchase price adjustments related to prior-year acquisitions .
in the fourth quarters of 2012 and 2011 , the company completed its annual impairment testing of goodwill and other indefinite-lived intangible assets .
the impairment test in 2012 indicated there was no impairment of goodwill for any of the company 2019s reporting units .
the impairment test in 2011 indicated that goodwill recorded for certain of the company 2019s reporting units was impaired .
the company recognized the non-cash , pre-tax impairment charges , in continuing operations , for goodwill of $ 486 million ( $ 330 million , after tax ) for 2011 .
in 2011 , the pre-tax impairment charge in the cabinets and related products segment relates to the european ready-to- assemble cabinet manufacturer and reflects the declining demand for certain products , as well as decreased operating margins .
the pre-tax impairment charge in the decorative architectural products segment relates to the builders 2019 hardware business and reflects increasing competitive conditions for that business .
the pre-tax impairment charge in the other specialty products segment relates to the north american window and door business and reflects the continuing weak level of new home construction activity in the western u.s. , the reduced levels of repair and remodel activity and the expectation that recovery in these segments will be modestly slower than anticipated .
the company then assessed the long-lived assets associated with these business units and determined no impairment was necessary at december 31 , 2011 .
other indefinite-lived intangible assets were $ 132 million and $ 174 million at december 31 , 2012 and 2011 , respectively , and principally included registered trademarks .
in 2012 and 2011 , the impairment test indicated that the registered trademark for a north american business unit in the other specialty products segment and the registered trademark for a north american business unit in the plumbing products segment ( 2011 only ) were impaired due to changes in the long-term outlook for the business units .
the company recognized non-cash , pre-tax impairment charges for other indefinite- lived intangible assets of $ 42 million ( $ 27 million , after tax ) and $ 8 million ( $ 5 million , after tax ) in 2012 and 2011 , respectively .
in 2010 , the company recognized non-cash , pre-tax impairment charges for other indefinite-lived intangible assets of $ 10 million ( $ 6 million after tax ) related to the installation and other services segment ( $ 9 million pre-tax ) and the plumbing products segment ( $ 1 million pre-tax ) . .
| 2,012
| 70
|
MAS
|
Masco
|
Industrials
|
Building Products
|
Livonia, Michigan
|
1981-06-30
| 62,996
|
1929
|
what was the percentage change in total net goodwill between 2010 and 2011?
|
-21%
|
divide(subtract(1891, 2383), 2383)
|
masco corporation notes to consolidated financial statements ( continued ) h .
goodwill and other intangible assets ( continued ) goodwill at december 31 , accumulated impairment losses goodwill at december 31 , 2010 additions ( a ) discontinued operations ( b ) pre-tax impairment charge other ( c ) goodwill at december 31 , cabinets and related products .
.
.
.
.
.
.
.
.
.
.
$ 587 $ ( 364 ) $ 223 $ 2014 $ 2014 $ ( 44 ) $ 2 $ 181 .
|
( a ) additions include acquisitions .
( b ) during 2011 , the company reclassified the goodwill related to the business units held for sale .
subsequent to the reclassification , the company recognized a charge for those business units expected to be divested at a loss ; the charge included a write-down of goodwill of $ 13 million .
( c ) other principally includes the effect of foreign currency translation and purchase price adjustments related to prior-year acquisitions .
in the fourth quarters of 2012 and 2011 , the company completed its annual impairment testing of goodwill and other indefinite-lived intangible assets .
the impairment test in 2012 indicated there was no impairment of goodwill for any of the company 2019s reporting units .
the impairment test in 2011 indicated that goodwill recorded for certain of the company 2019s reporting units was impaired .
the company recognized the non-cash , pre-tax impairment charges , in continuing operations , for goodwill of $ 486 million ( $ 330 million , after tax ) for 2011 .
in 2011 , the pre-tax impairment charge in the cabinets and related products segment relates to the european ready-to- assemble cabinet manufacturer and reflects the declining demand for certain products , as well as decreased operating margins .
the pre-tax impairment charge in the decorative architectural products segment relates to the builders 2019 hardware business and reflects increasing competitive conditions for that business .
the pre-tax impairment charge in the other specialty products segment relates to the north american window and door business and reflects the continuing weak level of new home construction activity in the western u.s. , the reduced levels of repair and remodel activity and the expectation that recovery in these segments will be modestly slower than anticipated .
the company then assessed the long-lived assets associated with these business units and determined no impairment was necessary at december 31 , 2011 .
other indefinite-lived intangible assets were $ 132 million and $ 174 million at december 31 , 2012 and 2011 , respectively , and principally included registered trademarks .
in 2012 and 2011 , the impairment test indicated that the registered trademark for a north american business unit in the other specialty products segment and the registered trademark for a north american business unit in the plumbing products segment ( 2011 only ) were impaired due to changes in the long-term outlook for the business units .
the company recognized non-cash , pre-tax impairment charges for other indefinite- lived intangible assets of $ 42 million ( $ 27 million , after tax ) and $ 8 million ( $ 5 million , after tax ) in 2012 and 2011 , respectively .
in 2010 , the company recognized non-cash , pre-tax impairment charges for other indefinite-lived intangible assets of $ 10 million ( $ 6 million after tax ) related to the installation and other services segment ( $ 9 million pre-tax ) and the plumbing products segment ( $ 1 million pre-tax ) . .
|
| | | gross goodwill at december 31 2010 | accumulated impairment losses | net goodwill at december 31 2010 | additions ( a ) | discontinued operations ( b ) | pre-tax impairment charge | other ( c ) | net goodwill at december 31 2011 |
|---:|:----------------------------------|:-------------------------------------|:--------------------------------|:-----------------------------------|:------------------|:--------------------------------|:----------------------------|:--------------|:-----------------------------------|
| 0 | cabinets and related products | $ 587 | $ -364 ( 364 ) | $ 223 | $ 2014 | $ 2014 | $ -44 ( 44 ) | $ 2 | $ 181 |
| 1 | plumbing products | 536 | -340 ( 340 ) | 196 | 9 | 2014 | 2014 | -4 ( 4 ) | 201 |
| 2 | installation and other services | 1819 | -762 ( 762 ) | 1057 | 2014 | -13 ( 13 ) | 2014 | 2014 | 1044 |
| 3 | decorative architectural products | 294 | 2014 | 294 | 2014 | 2014 | -75 ( 75 ) | 2014 | 219 |
| 4 | other specialty products | 980 | -367 ( 367 ) | 613 | 2014 | 2014 | -367 ( 367 ) | 2014 | 246 |
| 5 | total | $ 4216 | $ -1833 ( 1833 ) | $ 2383 | $ 9 | $ -13 ( 13 ) | $ -486 ( 486 ) | $ -2 ( 2 ) | $ 1891 |
|
masco corporation notes to consolidated financial statements ( continued ) h .
goodwill and other intangible assets ( continued ) goodwill at december 31 , accumulated impairment losses goodwill at december 31 , 2010 additions ( a ) discontinued operations ( b ) pre-tax impairment charge other ( c ) goodwill at december 31 , cabinets and related products .
.
.
.
.
.
.
.
.
.
.
$ 587 $ ( 364 ) $ 223 $ 2014 $ 2014 $ ( 44 ) $ 2 $ 181 ._| | | gross goodwill at december 31 2010 | accumulated impairment losses | net goodwill at december 31 2010 | additions ( a ) | discontinued operations ( b ) | pre-tax impairment charge | other ( c ) | net goodwill at december 31 2011 |
|---:|:----------------------------------|:-------------------------------------|:--------------------------------|:-----------------------------------|:------------------|:--------------------------------|:----------------------------|:--------------|:-----------------------------------|
| 0 | cabinets and related products | $ 587 | $ -364 ( 364 ) | $ 223 | $ 2014 | $ 2014 | $ -44 ( 44 ) | $ 2 | $ 181 |
| 1 | plumbing products | 536 | -340 ( 340 ) | 196 | 9 | 2014 | 2014 | -4 ( 4 ) | 201 |
| 2 | installation and other services | 1819 | -762 ( 762 ) | 1057 | 2014 | -13 ( 13 ) | 2014 | 2014 | 1044 |
| 3 | decorative architectural products | 294 | 2014 | 294 | 2014 | 2014 | -75 ( 75 ) | 2014 | 219 |
| 4 | other specialty products | 980 | -367 ( 367 ) | 613 | 2014 | 2014 | -367 ( 367 ) | 2014 | 246 |
| 5 | total | $ 4216 | $ -1833 ( 1833 ) | $ 2383 | $ 9 | $ -13 ( 13 ) | $ -486 ( 486 ) | $ -2 ( 2 ) | $ 1891 |_( a ) additions include acquisitions .
( b ) during 2011 , the company reclassified the goodwill related to the business units held for sale .
subsequent to the reclassification , the company recognized a charge for those business units expected to be divested at a loss ; the charge included a write-down of goodwill of $ 13 million .
( c ) other principally includes the effect of foreign currency translation and purchase price adjustments related to prior-year acquisitions .
in the fourth quarters of 2012 and 2011 , the company completed its annual impairment testing of goodwill and other indefinite-lived intangible assets .
the impairment test in 2012 indicated there was no impairment of goodwill for any of the company 2019s reporting units .
the impairment test in 2011 indicated that goodwill recorded for certain of the company 2019s reporting units was impaired .
the company recognized the non-cash , pre-tax impairment charges , in continuing operations , for goodwill of $ 486 million ( $ 330 million , after tax ) for 2011 .
in 2011 , the pre-tax impairment charge in the cabinets and related products segment relates to the european ready-to- assemble cabinet manufacturer and reflects the declining demand for certain products , as well as decreased operating margins .
the pre-tax impairment charge in the decorative architectural products segment relates to the builders 2019 hardware business and reflects increasing competitive conditions for that business .
the pre-tax impairment charge in the other specialty products segment relates to the north american window and door business and reflects the continuing weak level of new home construction activity in the western u.s. , the reduced levels of repair and remodel activity and the expectation that recovery in these segments will be modestly slower than anticipated .
the company then assessed the long-lived assets associated with these business units and determined no impairment was necessary at december 31 , 2011 .
other indefinite-lived intangible assets were $ 132 million and $ 174 million at december 31 , 2012 and 2011 , respectively , and principally included registered trademarks .
in 2012 and 2011 , the impairment test indicated that the registered trademark for a north american business unit in the other specialty products segment and the registered trademark for a north american business unit in the plumbing products segment ( 2011 only ) were impaired due to changes in the long-term outlook for the business units .
the company recognized non-cash , pre-tax impairment charges for other indefinite- lived intangible assets of $ 42 million ( $ 27 million , after tax ) and $ 8 million ( $ 5 million , after tax ) in 2012 and 2011 , respectively .
in 2010 , the company recognized non-cash , pre-tax impairment charges for other indefinite-lived intangible assets of $ 10 million ( $ 6 million after tax ) related to the installation and other services segment ( $ 9 million pre-tax ) and the plumbing products segment ( $ 1 million pre-tax ) . .
| 2,012
| 70
|
MAS
|
Masco
|
Industrials
|
Building Products
|
Livonia, Michigan
|
1981-06-30
| 62,996
|
1929
| null | null |
finqa32
|
from the data given , how many square feet have an expiry date in 2020?
|
778000
|
add(414000, 364000)
|
performance and revenue growth depends , in part , on the reliability and functionality of this infrastructure as a means of delivering human resources services .
the internet is a key mechanism for delivering our human resources services to our hr solutions clients efficiently and cost effectively .
our clients may not be receptive to human resource services delivered over the internet due to concerns regarding transaction security , user privacy , the reliability and quality of internet service and other reasons .
our clients 2019 concerns may be heightened by the fact we use the internet to transmit extremely confidential information about our clients and their employees , such as compensation , medical information and other personally identifiable information .
in order to maintain the level of security , service and reliability that our clients require , we may be required to make significant investments in our online methods of delivering human resources services .
in addition , websites and proprietary online services have experienced service interruptions and other delays occurring throughout their infrastructure .
the adoption of additional laws or regulations with respect to the internet may impede the efficiency of the internet as a medium of exchange of information and decrease the demand for our services .
if we cannot use the internet effectively to deliver our services , our revenue growth and results of operation may be impaired .
we may lose client data as a result of major catastrophes and other similar problems that may materially adversely impact our operations .
we have multiple processing centers around the world that use various commercial methods for disaster recovery capabilities .
our main data processing center is located near the aon hewitt headquarters in lincolnshire , illinois .
in the event of a disaster , our business continuity may not be sufficient , and the data recovered may not be sufficient for the administration of our clients 2019 human resources programs and processes .
item 1b .
unresolved staff comments .
item 2 .
properties .
we have offices in various locations throughout the world .
substantially all of our offices are located in leased premises .
we maintain our corporate headquarters at 200 e .
randolph street in chicago , illinois , where we occupy approximately 327000 square feet of space under an operating lease agreement that expires in 2013 .
there are two five-year renewal options at current market rates .
we own one building at pallbergweg 2-4 , amsterdam , the netherlands ( 150000 square feet ) .
the following are additional significant leased properties , along with the occupied square footage and expiration. .
|
7201 hewitt associates drive , charlotte , north carolina .
.
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.
.
.
.
.
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.
.
.
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.
.
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.
.
218000 2015 the locations in lincolnshire , illinois , the woodlands , texas , orlando , florida , and charlotte north carolina , each of which were acquired as part of the hewitt acquisition , are primarily dedicated to our hr solutions business .
the other locations listed above house personnel from each of our business segments. .
|
| | property: | occupied square footage | lease expiration dates |
|---:|:-----------------------------------------------------------|--------------------------:|:-------------------------|
| 0 | 4 overlook point and other locations lincolnshire illinois | 1279000 | 2014 - 2019 |
| 1 | 2601 research forest drive the woodlands texas | 414000 | 2020 |
| 2 | 2300 discovery drive orlando florida | 364000 | 2020 |
| 3 | devonshire square and other locations london uk | 339000 | 2018 - 2028 |
| 4 | 199 water street new york new york | 337000 | 2018 |
| 5 | 1000 n . milwaukee avenue glenview illinois | 233000 | 2017 |
| 6 | 7201 hewitt associates drive charlotte north carolina | 218000 | 2015 |
|
performance and revenue growth depends , in part , on the reliability and functionality of this infrastructure as a means of delivering human resources services .
the internet is a key mechanism for delivering our human resources services to our hr solutions clients efficiently and cost effectively .
our clients may not be receptive to human resource services delivered over the internet due to concerns regarding transaction security , user privacy , the reliability and quality of internet service and other reasons .
our clients 2019 concerns may be heightened by the fact we use the internet to transmit extremely confidential information about our clients and their employees , such as compensation , medical information and other personally identifiable information .
in order to maintain the level of security , service and reliability that our clients require , we may be required to make significant investments in our online methods of delivering human resources services .
in addition , websites and proprietary online services have experienced service interruptions and other delays occurring throughout their infrastructure .
the adoption of additional laws or regulations with respect to the internet may impede the efficiency of the internet as a medium of exchange of information and decrease the demand for our services .
if we cannot use the internet effectively to deliver our services , our revenue growth and results of operation may be impaired .
we may lose client data as a result of major catastrophes and other similar problems that may materially adversely impact our operations .
we have multiple processing centers around the world that use various commercial methods for disaster recovery capabilities .
our main data processing center is located near the aon hewitt headquarters in lincolnshire , illinois .
in the event of a disaster , our business continuity may not be sufficient , and the data recovered may not be sufficient for the administration of our clients 2019 human resources programs and processes .
item 1b .
unresolved staff comments .
item 2 .
properties .
we have offices in various locations throughout the world .
substantially all of our offices are located in leased premises .
we maintain our corporate headquarters at 200 e .
randolph street in chicago , illinois , where we occupy approximately 327000 square feet of space under an operating lease agreement that expires in 2013 .
there are two five-year renewal options at current market rates .
we own one building at pallbergweg 2-4 , amsterdam , the netherlands ( 150000 square feet ) .
the following are additional significant leased properties , along with the occupied square footage and expiration. ._| | property: | occupied square footage | lease expiration dates |
|---:|:-----------------------------------------------------------|--------------------------:|:-------------------------|
| 0 | 4 overlook point and other locations lincolnshire illinois | 1279000 | 2014 - 2019 |
| 1 | 2601 research forest drive the woodlands texas | 414000 | 2020 |
| 2 | 2300 discovery drive orlando florida | 364000 | 2020 |
| 3 | devonshire square and other locations london uk | 339000 | 2018 - 2028 |
| 4 | 199 water street new york new york | 337000 | 2018 |
| 5 | 1000 n . milwaukee avenue glenview illinois | 233000 | 2017 |
| 6 | 7201 hewitt associates drive charlotte north carolina | 218000 | 2015 |_7201 hewitt associates drive , charlotte , north carolina .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
218000 2015 the locations in lincolnshire , illinois , the woodlands , texas , orlando , florida , and charlotte north carolina , each of which were acquired as part of the hewitt acquisition , are primarily dedicated to our hr solutions business .
the other locations listed above house personnel from each of our business segments. .
| 2,010
| 28
|
AON
|
Aon plc
|
Financials
|
Insurance Brokers
|
London, United Kingdom
|
1996-04-23
| 315,293
|
1982 (1919)
|
from the data given , how many square feet have an expiry date in 2020?
|
778000
|
add(414000, 364000)
|
performance and revenue growth depends , in part , on the reliability and functionality of this infrastructure as a means of delivering human resources services .
the internet is a key mechanism for delivering our human resources services to our hr solutions clients efficiently and cost effectively .
our clients may not be receptive to human resource services delivered over the internet due to concerns regarding transaction security , user privacy , the reliability and quality of internet service and other reasons .
our clients 2019 concerns may be heightened by the fact we use the internet to transmit extremely confidential information about our clients and their employees , such as compensation , medical information and other personally identifiable information .
in order to maintain the level of security , service and reliability that our clients require , we may be required to make significant investments in our online methods of delivering human resources services .
in addition , websites and proprietary online services have experienced service interruptions and other delays occurring throughout their infrastructure .
the adoption of additional laws or regulations with respect to the internet may impede the efficiency of the internet as a medium of exchange of information and decrease the demand for our services .
if we cannot use the internet effectively to deliver our services , our revenue growth and results of operation may be impaired .
we may lose client data as a result of major catastrophes and other similar problems that may materially adversely impact our operations .
we have multiple processing centers around the world that use various commercial methods for disaster recovery capabilities .
our main data processing center is located near the aon hewitt headquarters in lincolnshire , illinois .
in the event of a disaster , our business continuity may not be sufficient , and the data recovered may not be sufficient for the administration of our clients 2019 human resources programs and processes .
item 1b .
unresolved staff comments .
item 2 .
properties .
we have offices in various locations throughout the world .
substantially all of our offices are located in leased premises .
we maintain our corporate headquarters at 200 e .
randolph street in chicago , illinois , where we occupy approximately 327000 square feet of space under an operating lease agreement that expires in 2013 .
there are two five-year renewal options at current market rates .
we own one building at pallbergweg 2-4 , amsterdam , the netherlands ( 150000 square feet ) .
the following are additional significant leased properties , along with the occupied square footage and expiration. .
|
7201 hewitt associates drive , charlotte , north carolina .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
218000 2015 the locations in lincolnshire , illinois , the woodlands , texas , orlando , florida , and charlotte north carolina , each of which were acquired as part of the hewitt acquisition , are primarily dedicated to our hr solutions business .
the other locations listed above house personnel from each of our business segments. .
|
| | property: | occupied square footage | lease expiration dates |
|---:|:-----------------------------------------------------------|--------------------------:|:-------------------------|
| 0 | 4 overlook point and other locations lincolnshire illinois | 1279000 | 2014 - 2019 |
| 1 | 2601 research forest drive the woodlands texas | 414000 | 2020 |
| 2 | 2300 discovery drive orlando florida | 364000 | 2020 |
| 3 | devonshire square and other locations london uk | 339000 | 2018 - 2028 |
| 4 | 199 water street new york new york | 337000 | 2018 |
| 5 | 1000 n . milwaukee avenue glenview illinois | 233000 | 2017 |
| 6 | 7201 hewitt associates drive charlotte north carolina | 218000 | 2015 |
|
performance and revenue growth depends , in part , on the reliability and functionality of this infrastructure as a means of delivering human resources services .
the internet is a key mechanism for delivering our human resources services to our hr solutions clients efficiently and cost effectively .
our clients may not be receptive to human resource services delivered over the internet due to concerns regarding transaction security , user privacy , the reliability and quality of internet service and other reasons .
our clients 2019 concerns may be heightened by the fact we use the internet to transmit extremely confidential information about our clients and their employees , such as compensation , medical information and other personally identifiable information .
in order to maintain the level of security , service and reliability that our clients require , we may be required to make significant investments in our online methods of delivering human resources services .
in addition , websites and proprietary online services have experienced service interruptions and other delays occurring throughout their infrastructure .
the adoption of additional laws or regulations with respect to the internet may impede the efficiency of the internet as a medium of exchange of information and decrease the demand for our services .
if we cannot use the internet effectively to deliver our services , our revenue growth and results of operation may be impaired .
we may lose client data as a result of major catastrophes and other similar problems that may materially adversely impact our operations .
we have multiple processing centers around the world that use various commercial methods for disaster recovery capabilities .
our main data processing center is located near the aon hewitt headquarters in lincolnshire , illinois .
in the event of a disaster , our business continuity may not be sufficient , and the data recovered may not be sufficient for the administration of our clients 2019 human resources programs and processes .
item 1b .
unresolved staff comments .
item 2 .
properties .
we have offices in various locations throughout the world .
substantially all of our offices are located in leased premises .
we maintain our corporate headquarters at 200 e .
randolph street in chicago , illinois , where we occupy approximately 327000 square feet of space under an operating lease agreement that expires in 2013 .
there are two five-year renewal options at current market rates .
we own one building at pallbergweg 2-4 , amsterdam , the netherlands ( 150000 square feet ) .
the following are additional significant leased properties , along with the occupied square footage and expiration. ._| | property: | occupied square footage | lease expiration dates |
|---:|:-----------------------------------------------------------|--------------------------:|:-------------------------|
| 0 | 4 overlook point and other locations lincolnshire illinois | 1279000 | 2014 - 2019 |
| 1 | 2601 research forest drive the woodlands texas | 414000 | 2020 |
| 2 | 2300 discovery drive orlando florida | 364000 | 2020 |
| 3 | devonshire square and other locations london uk | 339000 | 2018 - 2028 |
| 4 | 199 water street new york new york | 337000 | 2018 |
| 5 | 1000 n . milwaukee avenue glenview illinois | 233000 | 2017 |
| 6 | 7201 hewitt associates drive charlotte north carolina | 218000 | 2015 |_7201 hewitt associates drive , charlotte , north carolina .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
218000 2015 the locations in lincolnshire , illinois , the woodlands , texas , orlando , florida , and charlotte north carolina , each of which were acquired as part of the hewitt acquisition , are primarily dedicated to our hr solutions business .
the other locations listed above house personnel from each of our business segments. .
| 2,010
| 28
|
AON
|
Aon plc
|
Financials
|
Insurance Brokers
|
London, United Kingdom
|
1996-04-23
| 315,293
|
1982 (1919)
| null | null |
finqa33
|
what was the difference in dollars of the high low sale price for the common stock in the fourth quarter of 2002?
|
2.62
|
subtract(3.57, 0.95)
|
part ii item 5 2014market for registrant 2019s common equity and related stockholder matters market information .
the common stock of the company is currently traded on the new york stock exchange ( nyse ) under the symbol 2018 2018aes . 2019 2019 the following tables set forth the high and low sale prices for the common stock as reported by the nyse for the periods indicated .
price range of common stock .
|
holders .
as of march 3 , 2003 , there were 9663 record holders of the company 2019s common stock , par value $ 0.01 per share .
dividends .
under the terms of the company 2019s senior secured credit facilities entered into with a commercial bank syndicate , the company is not allowed to pay cash dividends .
in addition , the company is precluded from paying cash dividends on its common stock under the terms of a guaranty to the utility customer in connection with the aes thames project in the event certain net worth and liquidity tests of the company are not met .
the ability of the company 2019s project subsidiaries to declare and pay cash dividends to the company is subject to certain limitations in the project loans , governmental provisions and other agreements entered into by such project subsidiaries .
securities authorized for issuance under equity compensation plans .
see the information contained under the caption 2018 2018securities authorized for issuance under equity compensation plans 2019 2019 of the proxy statement for the annual meeting of stockholders of the registrant to be held on may 1 , 2003 , which information is incorporated herein by reference. .
|
| | 2002 first quarter | high $ 17.84 | low $ 4.11 | 2001 first quarter | high $ 60.15 | low $ 41.30 |
|---:|:---------------------|---------------:|-------------:|:---------------------|---------------:|--------------:|
| 0 | second quarter | 9.17 | 3.55 | second quarter | 52.25 | 39.95 |
| 1 | third quarter | 4.61 | 1.56 | third quarter | 44.5 | 12 |
| 2 | fourth quarter | 3.57 | 0.95 | fourth quarter | 17.8 | 11.6 |
|
part ii item 5 2014market for registrant 2019s common equity and related stockholder matters market information .
the common stock of the company is currently traded on the new york stock exchange ( nyse ) under the symbol 2018 2018aes . 2019 2019 the following tables set forth the high and low sale prices for the common stock as reported by the nyse for the periods indicated .
price range of common stock ._| | 2002 first quarter | high $ 17.84 | low $ 4.11 | 2001 first quarter | high $ 60.15 | low $ 41.30 |
|---:|:---------------------|---------------:|-------------:|:---------------------|---------------:|--------------:|
| 0 | second quarter | 9.17 | 3.55 | second quarter | 52.25 | 39.95 |
| 1 | third quarter | 4.61 | 1.56 | third quarter | 44.5 | 12 |
| 2 | fourth quarter | 3.57 | 0.95 | fourth quarter | 17.8 | 11.6 |_holders .
as of march 3 , 2003 , there were 9663 record holders of the company 2019s common stock , par value $ 0.01 per share .
dividends .
under the terms of the company 2019s senior secured credit facilities entered into with a commercial bank syndicate , the company is not allowed to pay cash dividends .
in addition , the company is precluded from paying cash dividends on its common stock under the terms of a guaranty to the utility customer in connection with the aes thames project in the event certain net worth and liquidity tests of the company are not met .
the ability of the company 2019s project subsidiaries to declare and pay cash dividends to the company is subject to certain limitations in the project loans , governmental provisions and other agreements entered into by such project subsidiaries .
securities authorized for issuance under equity compensation plans .
see the information contained under the caption 2018 2018securities authorized for issuance under equity compensation plans 2019 2019 of the proxy statement for the annual meeting of stockholders of the registrant to be held on may 1 , 2003 , which information is incorporated herein by reference. .
| 2,002
| 46
|
AES
|
AES Corporation
|
Utilities
|
Independent Power Producers & Energy Traders
|
Arlington, Virginia
|
1998-10-02
| 874,761
|
1981
|
what was the difference in dollars of the high low sale price for the common stock in the fourth quarter of 2002?
|
2.62
|
subtract(3.57, 0.95)
|
part ii item 5 2014market for registrant 2019s common equity and related stockholder matters market information .
the common stock of the company is currently traded on the new york stock exchange ( nyse ) under the symbol 2018 2018aes . 2019 2019 the following tables set forth the high and low sale prices for the common stock as reported by the nyse for the periods indicated .
price range of common stock .
|
holders .
as of march 3 , 2003 , there were 9663 record holders of the company 2019s common stock , par value $ 0.01 per share .
dividends .
under the terms of the company 2019s senior secured credit facilities entered into with a commercial bank syndicate , the company is not allowed to pay cash dividends .
in addition , the company is precluded from paying cash dividends on its common stock under the terms of a guaranty to the utility customer in connection with the aes thames project in the event certain net worth and liquidity tests of the company are not met .
the ability of the company 2019s project subsidiaries to declare and pay cash dividends to the company is subject to certain limitations in the project loans , governmental provisions and other agreements entered into by such project subsidiaries .
securities authorized for issuance under equity compensation plans .
see the information contained under the caption 2018 2018securities authorized for issuance under equity compensation plans 2019 2019 of the proxy statement for the annual meeting of stockholders of the registrant to be held on may 1 , 2003 , which information is incorporated herein by reference. .
|
| | 2002 first quarter | high $ 17.84 | low $ 4.11 | 2001 first quarter | high $ 60.15 | low $ 41.30 |
|---:|:---------------------|---------------:|-------------:|:---------------------|---------------:|--------------:|
| 0 | second quarter | 9.17 | 3.55 | second quarter | 52.25 | 39.95 |
| 1 | third quarter | 4.61 | 1.56 | third quarter | 44.5 | 12 |
| 2 | fourth quarter | 3.57 | 0.95 | fourth quarter | 17.8 | 11.6 |
|
part ii item 5 2014market for registrant 2019s common equity and related stockholder matters market information .
the common stock of the company is currently traded on the new york stock exchange ( nyse ) under the symbol 2018 2018aes . 2019 2019 the following tables set forth the high and low sale prices for the common stock as reported by the nyse for the periods indicated .
price range of common stock ._| | 2002 first quarter | high $ 17.84 | low $ 4.11 | 2001 first quarter | high $ 60.15 | low $ 41.30 |
|---:|:---------------------|---------------:|-------------:|:---------------------|---------------:|--------------:|
| 0 | second quarter | 9.17 | 3.55 | second quarter | 52.25 | 39.95 |
| 1 | third quarter | 4.61 | 1.56 | third quarter | 44.5 | 12 |
| 2 | fourth quarter | 3.57 | 0.95 | fourth quarter | 17.8 | 11.6 |_holders .
as of march 3 , 2003 , there were 9663 record holders of the company 2019s common stock , par value $ 0.01 per share .
dividends .
under the terms of the company 2019s senior secured credit facilities entered into with a commercial bank syndicate , the company is not allowed to pay cash dividends .
in addition , the company is precluded from paying cash dividends on its common stock under the terms of a guaranty to the utility customer in connection with the aes thames project in the event certain net worth and liquidity tests of the company are not met .
the ability of the company 2019s project subsidiaries to declare and pay cash dividends to the company is subject to certain limitations in the project loans , governmental provisions and other agreements entered into by such project subsidiaries .
securities authorized for issuance under equity compensation plans .
see the information contained under the caption 2018 2018securities authorized for issuance under equity compensation plans 2019 2019 of the proxy statement for the annual meeting of stockholders of the registrant to be held on may 1 , 2003 , which information is incorporated herein by reference. .
| 2,002
| 46
|
AES
|
AES Corporation
|
Utilities
|
Independent Power Producers & Energy Traders
|
Arlington, Virginia
|
1998-10-02
| 874,761
|
1981
| null | null |
finqa34
|
in 2010 what was the ratio of the statutory capital and surplus to the statutory net income
|
4.9\\n
|
divide(11798, 2430)
|
n o t e s t o t h e c o n s o l i d a t e d f i n a n c i a l s t a t e m e n t s 2013 ( continued ) ace limited and subsidiaries excluded from adjusted weighted-average shares outstanding and assumed conversions is the impact of securities that would have been anti-dilutive during the respective years .
for the years ended december 31 , 2010 , 2009 , and 2008 , the potential anti-dilutive share conversions were 256868 shares , 1230881 shares , and 638401 shares , respectively .
19 .
related party transactions the ace foundation 2013 bermuda is an unconsolidated not-for-profit organization whose primary purpose is to fund charitable causes in bermuda .
the trustees are principally comprised of ace management .
the company maintains a non-interest bear- ing demand note receivable from the ace foundation 2013 bermuda , the balance of which was $ 30 million and $ 31 million , at december 31 , 2010 and 2009 , respectively .
the receivable is included in other assets in the accompanying consolidated balance sheets .
the borrower has used the related proceeds to finance investments in bermuda real estate , some of which have been rented to ace employees at rates established by independent , professional real estate appraisers .
the borrower uses income from the investments to both repay the note and to fund charitable activities .
accordingly , the company reports the demand note at the lower of its principal value or the fair value of assets held by the borrower to repay the loan , including the real estate properties .
20 .
statutory financial information the company 2019s insurance and reinsurance subsidiaries are subject to insurance laws and regulations in the jurisdictions in which they operate .
these regulations include restrictions that limit the amount of dividends or other distributions , such as loans or cash advances , available to shareholders without prior approval of the insurance regulatory authorities .
there are no statutory restrictions on the payment of dividends from retained earnings by any of the bermuda subsidiaries as the minimum statutory capital and surplus requirements are satisfied by the share capital and additional paid-in capital of each of the bermuda subsidiaries .
the company 2019s u.s .
subsidiaries file financial statements prepared in accordance with statutory accounting practices prescribed or permitted by insurance regulators .
statutory accounting differs from gaap in the reporting of certain reinsurance contracts , investments , subsidiaries , acquis- ition expenses , fixed assets , deferred income taxes , and certain other items .
the statutory capital and surplus of the u.s .
subsidiaries met regulatory requirements for 2010 , 2009 , and 2008 .
the amount of dividends available to be paid in 2011 , without prior approval from the state insurance departments , totals $ 850 million .
the following table presents the combined statutory capital and surplus and statutory net income of the bermuda and u.s .
subsidiaries at and for the years ended december 31 , 2010 , 2009 , and 2008. .
|
as permitted by the restructuring discussed previously in note 7 , certain of the company 2019s u.s .
subsidiaries discount certain a&e liabilities , which increased statutory capital and surplus by approximately $ 206 million , $ 215 million , and $ 211 million at december 31 , 2010 , 2009 , and 2008 , respectively .
the company 2019s international subsidiaries prepare statutory financial statements based on local laws and regulations .
some jurisdictions impose complex regulatory requirements on insurance companies while other jurisdictions impose fewer requirements .
in some countries , the company must obtain licenses issued by governmental authorities to conduct local insurance business .
these licenses may be subject to reserves and minimum capital and solvency tests .
jurisdictions may impose fines , censure , and/or criminal sanctions for violation of regulatory requirements. .
|
| | ( in millions of u.s . dollars ) | bermuda subsidiaries 2010 | bermuda subsidiaries 2009 | bermuda subsidiaries 2008 | bermuda subsidiaries 2010 | bermuda subsidiaries 2009 | 2008 |
|---:|:-----------------------------------|:----------------------------|:----------------------------|:----------------------------|:----------------------------|:----------------------------|:-------|
| 0 | statutory capital and surplus | $ 11798 | $ 9164 | $ 6205 | $ 6266 | $ 5885 | $ 5368 |
| 1 | statutory net income | $ 2430 | $ 2369 | $ 2196 | $ 1047 | $ 904 | $ 818 |
|
n o t e s t o t h e c o n s o l i d a t e d f i n a n c i a l s t a t e m e n t s 2013 ( continued ) ace limited and subsidiaries excluded from adjusted weighted-average shares outstanding and assumed conversions is the impact of securities that would have been anti-dilutive during the respective years .
for the years ended december 31 , 2010 , 2009 , and 2008 , the potential anti-dilutive share conversions were 256868 shares , 1230881 shares , and 638401 shares , respectively .
19 .
related party transactions the ace foundation 2013 bermuda is an unconsolidated not-for-profit organization whose primary purpose is to fund charitable causes in bermuda .
the trustees are principally comprised of ace management .
the company maintains a non-interest bear- ing demand note receivable from the ace foundation 2013 bermuda , the balance of which was $ 30 million and $ 31 million , at december 31 , 2010 and 2009 , respectively .
the receivable is included in other assets in the accompanying consolidated balance sheets .
the borrower has used the related proceeds to finance investments in bermuda real estate , some of which have been rented to ace employees at rates established by independent , professional real estate appraisers .
the borrower uses income from the investments to both repay the note and to fund charitable activities .
accordingly , the company reports the demand note at the lower of its principal value or the fair value of assets held by the borrower to repay the loan , including the real estate properties .
20 .
statutory financial information the company 2019s insurance and reinsurance subsidiaries are subject to insurance laws and regulations in the jurisdictions in which they operate .
these regulations include restrictions that limit the amount of dividends or other distributions , such as loans or cash advances , available to shareholders without prior approval of the insurance regulatory authorities .
there are no statutory restrictions on the payment of dividends from retained earnings by any of the bermuda subsidiaries as the minimum statutory capital and surplus requirements are satisfied by the share capital and additional paid-in capital of each of the bermuda subsidiaries .
the company 2019s u.s .
subsidiaries file financial statements prepared in accordance with statutory accounting practices prescribed or permitted by insurance regulators .
statutory accounting differs from gaap in the reporting of certain reinsurance contracts , investments , subsidiaries , acquis- ition expenses , fixed assets , deferred income taxes , and certain other items .
the statutory capital and surplus of the u.s .
subsidiaries met regulatory requirements for 2010 , 2009 , and 2008 .
the amount of dividends available to be paid in 2011 , without prior approval from the state insurance departments , totals $ 850 million .
the following table presents the combined statutory capital and surplus and statutory net income of the bermuda and u.s .
subsidiaries at and for the years ended december 31 , 2010 , 2009 , and 2008. ._| | ( in millions of u.s . dollars ) | bermuda subsidiaries 2010 | bermuda subsidiaries 2009 | bermuda subsidiaries 2008 | bermuda subsidiaries 2010 | bermuda subsidiaries 2009 | 2008 |
|---:|:-----------------------------------|:----------------------------|:----------------------------|:----------------------------|:----------------------------|:----------------------------|:-------|
| 0 | statutory capital and surplus | $ 11798 | $ 9164 | $ 6205 | $ 6266 | $ 5885 | $ 5368 |
| 1 | statutory net income | $ 2430 | $ 2369 | $ 2196 | $ 1047 | $ 904 | $ 818 |_as permitted by the restructuring discussed previously in note 7 , certain of the company 2019s u.s .
subsidiaries discount certain a&e liabilities , which increased statutory capital and surplus by approximately $ 206 million , $ 215 million , and $ 211 million at december 31 , 2010 , 2009 , and 2008 , respectively .
the company 2019s international subsidiaries prepare statutory financial statements based on local laws and regulations .
some jurisdictions impose complex regulatory requirements on insurance companies while other jurisdictions impose fewer requirements .
in some countries , the company must obtain licenses issued by governmental authorities to conduct local insurance business .
these licenses may be subject to reserves and minimum capital and solvency tests .
jurisdictions may impose fines , censure , and/or criminal sanctions for violation of regulatory requirements. .
| 2,010
| 200
|
CB
|
Chubb Limited
|
Financials
|
Property & Casualty Insurance
|
Zurich, Switzerland
|
2010-07-15
| 896,159
|
1985
|
in 2010 what was the ratio of the statutory capital and surplus to the statutory net income
|
4.9\\n
|
divide(11798, 2430)
|
n o t e s t o t h e c o n s o l i d a t e d f i n a n c i a l s t a t e m e n t s 2013 ( continued ) ace limited and subsidiaries excluded from adjusted weighted-average shares outstanding and assumed conversions is the impact of securities that would have been anti-dilutive during the respective years .
for the years ended december 31 , 2010 , 2009 , and 2008 , the potential anti-dilutive share conversions were 256868 shares , 1230881 shares , and 638401 shares , respectively .
19 .
related party transactions the ace foundation 2013 bermuda is an unconsolidated not-for-profit organization whose primary purpose is to fund charitable causes in bermuda .
the trustees are principally comprised of ace management .
the company maintains a non-interest bear- ing demand note receivable from the ace foundation 2013 bermuda , the balance of which was $ 30 million and $ 31 million , at december 31 , 2010 and 2009 , respectively .
the receivable is included in other assets in the accompanying consolidated balance sheets .
the borrower has used the related proceeds to finance investments in bermuda real estate , some of which have been rented to ace employees at rates established by independent , professional real estate appraisers .
the borrower uses income from the investments to both repay the note and to fund charitable activities .
accordingly , the company reports the demand note at the lower of its principal value or the fair value of assets held by the borrower to repay the loan , including the real estate properties .
20 .
statutory financial information the company 2019s insurance and reinsurance subsidiaries are subject to insurance laws and regulations in the jurisdictions in which they operate .
these regulations include restrictions that limit the amount of dividends or other distributions , such as loans or cash advances , available to shareholders without prior approval of the insurance regulatory authorities .
there are no statutory restrictions on the payment of dividends from retained earnings by any of the bermuda subsidiaries as the minimum statutory capital and surplus requirements are satisfied by the share capital and additional paid-in capital of each of the bermuda subsidiaries .
the company 2019s u.s .
subsidiaries file financial statements prepared in accordance with statutory accounting practices prescribed or permitted by insurance regulators .
statutory accounting differs from gaap in the reporting of certain reinsurance contracts , investments , subsidiaries , acquis- ition expenses , fixed assets , deferred income taxes , and certain other items .
the statutory capital and surplus of the u.s .
subsidiaries met regulatory requirements for 2010 , 2009 , and 2008 .
the amount of dividends available to be paid in 2011 , without prior approval from the state insurance departments , totals $ 850 million .
the following table presents the combined statutory capital and surplus and statutory net income of the bermuda and u.s .
subsidiaries at and for the years ended december 31 , 2010 , 2009 , and 2008. .
|
as permitted by the restructuring discussed previously in note 7 , certain of the company 2019s u.s .
subsidiaries discount certain a&e liabilities , which increased statutory capital and surplus by approximately $ 206 million , $ 215 million , and $ 211 million at december 31 , 2010 , 2009 , and 2008 , respectively .
the company 2019s international subsidiaries prepare statutory financial statements based on local laws and regulations .
some jurisdictions impose complex regulatory requirements on insurance companies while other jurisdictions impose fewer requirements .
in some countries , the company must obtain licenses issued by governmental authorities to conduct local insurance business .
these licenses may be subject to reserves and minimum capital and solvency tests .
jurisdictions may impose fines , censure , and/or criminal sanctions for violation of regulatory requirements. .
|
| | ( in millions of u.s . dollars ) | bermuda subsidiaries 2010 | bermuda subsidiaries 2009 | bermuda subsidiaries 2008 | bermuda subsidiaries 2010 | bermuda subsidiaries 2009 | 2008 |
|---:|:-----------------------------------|:----------------------------|:----------------------------|:----------------------------|:----------------------------|:----------------------------|:-------|
| 0 | statutory capital and surplus | $ 11798 | $ 9164 | $ 6205 | $ 6266 | $ 5885 | $ 5368 |
| 1 | statutory net income | $ 2430 | $ 2369 | $ 2196 | $ 1047 | $ 904 | $ 818 |
|
n o t e s t o t h e c o n s o l i d a t e d f i n a n c i a l s t a t e m e n t s 2013 ( continued ) ace limited and subsidiaries excluded from adjusted weighted-average shares outstanding and assumed conversions is the impact of securities that would have been anti-dilutive during the respective years .
for the years ended december 31 , 2010 , 2009 , and 2008 , the potential anti-dilutive share conversions were 256868 shares , 1230881 shares , and 638401 shares , respectively .
19 .
related party transactions the ace foundation 2013 bermuda is an unconsolidated not-for-profit organization whose primary purpose is to fund charitable causes in bermuda .
the trustees are principally comprised of ace management .
the company maintains a non-interest bear- ing demand note receivable from the ace foundation 2013 bermuda , the balance of which was $ 30 million and $ 31 million , at december 31 , 2010 and 2009 , respectively .
the receivable is included in other assets in the accompanying consolidated balance sheets .
the borrower has used the related proceeds to finance investments in bermuda real estate , some of which have been rented to ace employees at rates established by independent , professional real estate appraisers .
the borrower uses income from the investments to both repay the note and to fund charitable activities .
accordingly , the company reports the demand note at the lower of its principal value or the fair value of assets held by the borrower to repay the loan , including the real estate properties .
20 .
statutory financial information the company 2019s insurance and reinsurance subsidiaries are subject to insurance laws and regulations in the jurisdictions in which they operate .
these regulations include restrictions that limit the amount of dividends or other distributions , such as loans or cash advances , available to shareholders without prior approval of the insurance regulatory authorities .
there are no statutory restrictions on the payment of dividends from retained earnings by any of the bermuda subsidiaries as the minimum statutory capital and surplus requirements are satisfied by the share capital and additional paid-in capital of each of the bermuda subsidiaries .
the company 2019s u.s .
subsidiaries file financial statements prepared in accordance with statutory accounting practices prescribed or permitted by insurance regulators .
statutory accounting differs from gaap in the reporting of certain reinsurance contracts , investments , subsidiaries , acquis- ition expenses , fixed assets , deferred income taxes , and certain other items .
the statutory capital and surplus of the u.s .
subsidiaries met regulatory requirements for 2010 , 2009 , and 2008 .
the amount of dividends available to be paid in 2011 , without prior approval from the state insurance departments , totals $ 850 million .
the following table presents the combined statutory capital and surplus and statutory net income of the bermuda and u.s .
subsidiaries at and for the years ended december 31 , 2010 , 2009 , and 2008. ._| | ( in millions of u.s . dollars ) | bermuda subsidiaries 2010 | bermuda subsidiaries 2009 | bermuda subsidiaries 2008 | bermuda subsidiaries 2010 | bermuda subsidiaries 2009 | 2008 |
|---:|:-----------------------------------|:----------------------------|:----------------------------|:----------------------------|:----------------------------|:----------------------------|:-------|
| 0 | statutory capital and surplus | $ 11798 | $ 9164 | $ 6205 | $ 6266 | $ 5885 | $ 5368 |
| 1 | statutory net income | $ 2430 | $ 2369 | $ 2196 | $ 1047 | $ 904 | $ 818 |_as permitted by the restructuring discussed previously in note 7 , certain of the company 2019s u.s .
subsidiaries discount certain a&e liabilities , which increased statutory capital and surplus by approximately $ 206 million , $ 215 million , and $ 211 million at december 31 , 2010 , 2009 , and 2008 , respectively .
the company 2019s international subsidiaries prepare statutory financial statements based on local laws and regulations .
some jurisdictions impose complex regulatory requirements on insurance companies while other jurisdictions impose fewer requirements .
in some countries , the company must obtain licenses issued by governmental authorities to conduct local insurance business .
these licenses may be subject to reserves and minimum capital and solvency tests .
jurisdictions may impose fines , censure , and/or criminal sanctions for violation of regulatory requirements. .
| 2,010
| 200
|
CB
|
Chubb Limited
|
Financials
|
Property & Casualty Insurance
|
Zurich, Switzerland
|
2010-07-15
| 896,159
|
1985
| null | null |
finqa35
|
what is the percentage change in total debt from 2014 to 2015?
|
3.4%
|
divide(subtract(28.5, 29.5), 29.5)
|
in addition to the committed credit facilities discussed above , certain of our subsidiaries maintain short-term credit arrangements to meet their respective working capital needs .
these credit arrangements , which amounted to approximately $ 2.9 billion at december 31 , 2015 , and $ 3.2 billion at december 31 , 2014 , are for the sole use of our subsidiaries .
borrowings under these arrangements amounted to $ 825 million at december 31 , 2015 , and $ 1.2 billion at december 31 , 2014 .
commercial paper program 2013 we have commercial paper programs in place in the u.s .
and in europe .
at december 31 , 2015 and december 31 , 2014 , we had no commercial paper outstanding .
effective april 19 , 2013 , our commercial paper program in the u.s .
was increased by $ 2.0 billion .
as a result , our commercial paper programs in place in the u.s .
and in europe currently have an aggregate issuance capacity of $ 8.0 billion .
we expect that the existence of the commercial paper program and the committed credit facilities , coupled with our operating cash flows , will enable us to meet our liquidity requirements .
sale of accounts receivable 2013 to mitigate credit risk and enhance cash and liquidity management we sell trade receivables to unaffiliated financial institutions .
these arrangements allow us to sell , on an ongoing basis , certain trade receivables without recourse .
the trade receivables sold are generally short-term in nature and are removed from the consolidated balance sheets .
we sell trade receivables under two types of arrangements , servicing and non-servicing .
pmi 2019s operating cash flows were positively impacted by the amount of the trade receivables sold and derecognized from the consolidated balance sheets , which remained outstanding with the unaffiliated financial institutions .
the trade receivables sold that remained outstanding under these arrangements as of december 31 , 2015 , 2014 and 2013 were $ 888 million , $ 120 million and $ 146 million , respectively .
the net proceeds received are included in cash provided by operating activities in the consolidated statements of cash flows .
for further details , see item 8 , note 23 .
sale of accounts receivable to our consolidated financial statements .
debt 2013 our total debt was $ 28.5 billion at december 31 , 2015 , and $ 29.5 billion at december 31 , 2014 .
our total debt is primarily fixed rate in nature .
for further details , see item 8 , note 7 .
indebtedness .
the weighted-average all-in financing cost of our total debt was 3.0% ( 3.0 % ) in 2015 , compared to 3.2% ( 3.2 % ) in 2014 .
see item 8 , note 16 .
fair value measurements to our consolidated financial statements for a discussion of our disclosures related to the fair value of debt .
the amount of debt that we can issue is subject to approval by our board of directors .
on february 21 , 2014 , we filed a shelf registration statement with the u.s .
securities and exchange commission , under which we may from time to time sell debt securities and/or warrants to purchase debt securities over a three-year period .
our debt issuances in 2015 were as follows : ( in millions ) type face value interest rate issuance maturity u.s .
dollar notes ( a ) $ 500 1.250% ( 1.250 % ) august 2015 august 2017 u.s .
dollar notes ( a ) $ 750 3.375% ( 3.375 % ) august 2015 august 2025 ( a ) interest on these notes is payable annually in arrears beginning in february 2016 .
the net proceeds from the sale of the securities listed in the table above will be used for general corporate purposes .
the weighted-average time to maturity of our long-term debt was 10.8 years at the end of 2014 and 10.5 years at the end of 2015 .
2022 off-balance sheet arrangements and aggregate contractual obligations we have no off-balance sheet arrangements , including special purpose entities , other than guarantees and contractual obligations discussed below. .
|
in addition to the committed credit facilities discussed above , certain of our subsidiaries maintain short-term credit arrangements to meet their respective working capital needs .
these credit arrangements , which amounted to approximately $ 2.9 billion at december 31 , 2015 , and $ 3.2 billion at december 31 , 2014 , are for the sole use of our subsidiaries .
borrowings under these arrangements amounted to $ 825 million at december 31 , 2015 , and $ 1.2 billion at december 31 , 2014 .
commercial paper program 2013 we have commercial paper programs in place in the u.s .
and in europe .
at december 31 , 2015 and december 31 , 2014 , we had no commercial paper outstanding .
effective april 19 , 2013 , our commercial paper program in the u.s .
was increased by $ 2.0 billion .
as a result , our commercial paper programs in place in the u.s .
and in europe currently have an aggregate issuance capacity of $ 8.0 billion .
we expect that the existence of the commercial paper program and the committed credit facilities , coupled with our operating cash flows , will enable us to meet our liquidity requirements .
sale of accounts receivable 2013 to mitigate credit risk and enhance cash and liquidity management we sell trade receivables to unaffiliated financial institutions .
these arrangements allow us to sell , on an ongoing basis , certain trade receivables without recourse .
the trade receivables sold are generally short-term in nature and are removed from the consolidated balance sheets .
we sell trade receivables under two types of arrangements , servicing and non-servicing .
pmi 2019s operating cash flows were positively impacted by the amount of the trade receivables sold and derecognized from the consolidated balance sheets , which remained outstanding with the unaffiliated financial institutions .
the trade receivables sold that remained outstanding under these arrangements as of december 31 , 2015 , 2014 and 2013 were $ 888 million , $ 120 million and $ 146 million , respectively .
the net proceeds received are included in cash provided by operating activities in the consolidated statements of cash flows .
for further details , see item 8 , note 23 .
sale of accounts receivable to our consolidated financial statements .
debt 2013 our total debt was $ 28.5 billion at december 31 , 2015 , and $ 29.5 billion at december 31 , 2014 .
our total debt is primarily fixed rate in nature .
for further details , see item 8 , note 7 .
indebtedness .
the weighted-average all-in financing cost of our total debt was 3.0% ( 3.0 % ) in 2015 , compared to 3.2% ( 3.2 % ) in 2014 .
see item 8 , note 16 .
fair value measurements to our consolidated financial statements for a discussion of our disclosures related to the fair value of debt .
the amount of debt that we can issue is subject to approval by our board of directors .
on february 21 , 2014 , we filed a shelf registration statement with the u.s .
securities and exchange commission , under which we may from time to time sell debt securities and/or warrants to purchase debt securities over a three-year period .
our debt issuances in 2015 were as follows : ( in millions ) type face value interest rate issuance maturity u.s .
dollar notes ( a ) $ 500 1.250% ( 1.250 % ) august 2015 august 2017 u.s .
dollar notes ( a ) $ 750 3.375% ( 3.375 % ) august 2015 august 2025 ( a ) interest on these notes is payable annually in arrears beginning in february 2016 .
the net proceeds from the sale of the securities listed in the table above will be used for general corporate purposes .
the weighted-average time to maturity of our long-term debt was 10.8 years at the end of 2014 and 10.5 years at the end of 2015 .
2022 off-balance sheet arrangements and aggregate contractual obligations we have no off-balance sheet arrangements , including special purpose entities , other than guarantees and contractual obligations discussed below. .
|
| | type | | face value | interest rate | issuance | maturity |
|---:|:-------------------|:------|:-------------|:-------------------|:------------|:------------|
| 0 | u.s . dollar notes | ( a ) | $ 500 | 1.250% ( 1.250 % ) | august 2015 | august 2017 |
| 1 | u.s . dollar notes | ( a ) | $ 750 | 3.375% ( 3.375 % ) | august 2015 | august 2025 |
|
in addition to the committed credit facilities discussed above , certain of our subsidiaries maintain short-term credit arrangements to meet their respective working capital needs .
these credit arrangements , which amounted to approximately $ 2.9 billion at december 31 , 2015 , and $ 3.2 billion at december 31 , 2014 , are for the sole use of our subsidiaries .
borrowings under these arrangements amounted to $ 825 million at december 31 , 2015 , and $ 1.2 billion at december 31 , 2014 .
commercial paper program 2013 we have commercial paper programs in place in the u.s .
and in europe .
at december 31 , 2015 and december 31 , 2014 , we had no commercial paper outstanding .
effective april 19 , 2013 , our commercial paper program in the u.s .
was increased by $ 2.0 billion .
as a result , our commercial paper programs in place in the u.s .
and in europe currently have an aggregate issuance capacity of $ 8.0 billion .
we expect that the existence of the commercial paper program and the committed credit facilities , coupled with our operating cash flows , will enable us to meet our liquidity requirements .
sale of accounts receivable 2013 to mitigate credit risk and enhance cash and liquidity management we sell trade receivables to unaffiliated financial institutions .
these arrangements allow us to sell , on an ongoing basis , certain trade receivables without recourse .
the trade receivables sold are generally short-term in nature and are removed from the consolidated balance sheets .
we sell trade receivables under two types of arrangements , servicing and non-servicing .
pmi 2019s operating cash flows were positively impacted by the amount of the trade receivables sold and derecognized from the consolidated balance sheets , which remained outstanding with the unaffiliated financial institutions .
the trade receivables sold that remained outstanding under these arrangements as of december 31 , 2015 , 2014 and 2013 were $ 888 million , $ 120 million and $ 146 million , respectively .
the net proceeds received are included in cash provided by operating activities in the consolidated statements of cash flows .
for further details , see item 8 , note 23 .
sale of accounts receivable to our consolidated financial statements .
debt 2013 our total debt was $ 28.5 billion at december 31 , 2015 , and $ 29.5 billion at december 31 , 2014 .
our total debt is primarily fixed rate in nature .
for further details , see item 8 , note 7 .
indebtedness .
the weighted-average all-in financing cost of our total debt was 3.0% ( 3.0 % ) in 2015 , compared to 3.2% ( 3.2 % ) in 2014 .
see item 8 , note 16 .
fair value measurements to our consolidated financial statements for a discussion of our disclosures related to the fair value of debt .
the amount of debt that we can issue is subject to approval by our board of directors .
on february 21 , 2014 , we filed a shelf registration statement with the u.s .
securities and exchange commission , under which we may from time to time sell debt securities and/or warrants to purchase debt securities over a three-year period .
our debt issuances in 2015 were as follows : ( in millions ) type face value interest rate issuance maturity u.s .
dollar notes ( a ) $ 500 1.250% ( 1.250 % ) august 2015 august 2017 u.s .
dollar notes ( a ) $ 750 3.375% ( 3.375 % ) august 2015 august 2025 ( a ) interest on these notes is payable annually in arrears beginning in february 2016 .
the net proceeds from the sale of the securities listed in the table above will be used for general corporate purposes .
the weighted-average time to maturity of our long-term debt was 10.8 years at the end of 2014 and 10.5 years at the end of 2015 .
2022 off-balance sheet arrangements and aggregate contractual obligations we have no off-balance sheet arrangements , including special purpose entities , other than guarantees and contractual obligations discussed below. ._| | type | | face value | interest rate | issuance | maturity |
|---:|:-------------------|:------|:-------------|:-------------------|:------------|:------------|
| 0 | u.s . dollar notes | ( a ) | $ 500 | 1.250% ( 1.250 % ) | august 2015 | august 2017 |
| 1 | u.s . dollar notes | ( a ) | $ 750 | 3.375% ( 3.375 % ) | august 2015 | august 2025 |_in addition to the committed credit facilities discussed above , certain of our subsidiaries maintain short-term credit arrangements to meet their respective working capital needs .
these credit arrangements , which amounted to approximately $ 2.9 billion at december 31 , 2015 , and $ 3.2 billion at december 31 , 2014 , are for the sole use of our subsidiaries .
borrowings under these arrangements amounted to $ 825 million at december 31 , 2015 , and $ 1.2 billion at december 31 , 2014 .
commercial paper program 2013 we have commercial paper programs in place in the u.s .
and in europe .
at december 31 , 2015 and december 31 , 2014 , we had no commercial paper outstanding .
effective april 19 , 2013 , our commercial paper program in the u.s .
was increased by $ 2.0 billion .
as a result , our commercial paper programs in place in the u.s .
and in europe currently have an aggregate issuance capacity of $ 8.0 billion .
we expect that the existence of the commercial paper program and the committed credit facilities , coupled with our operating cash flows , will enable us to meet our liquidity requirements .
sale of accounts receivable 2013 to mitigate credit risk and enhance cash and liquidity management we sell trade receivables to unaffiliated financial institutions .
these arrangements allow us to sell , on an ongoing basis , certain trade receivables without recourse .
the trade receivables sold are generally short-term in nature and are removed from the consolidated balance sheets .
we sell trade receivables under two types of arrangements , servicing and non-servicing .
pmi 2019s operating cash flows were positively impacted by the amount of the trade receivables sold and derecognized from the consolidated balance sheets , which remained outstanding with the unaffiliated financial institutions .
the trade receivables sold that remained outstanding under these arrangements as of december 31 , 2015 , 2014 and 2013 were $ 888 million , $ 120 million and $ 146 million , respectively .
the net proceeds received are included in cash provided by operating activities in the consolidated statements of cash flows .
for further details , see item 8 , note 23 .
sale of accounts receivable to our consolidated financial statements .
debt 2013 our total debt was $ 28.5 billion at december 31 , 2015 , and $ 29.5 billion at december 31 , 2014 .
our total debt is primarily fixed rate in nature .
for further details , see item 8 , note 7 .
indebtedness .
the weighted-average all-in financing cost of our total debt was 3.0% ( 3.0 % ) in 2015 , compared to 3.2% ( 3.2 % ) in 2014 .
see item 8 , note 16 .
fair value measurements to our consolidated financial statements for a discussion of our disclosures related to the fair value of debt .
the amount of debt that we can issue is subject to approval by our board of directors .
on february 21 , 2014 , we filed a shelf registration statement with the u.s .
securities and exchange commission , under which we may from time to time sell debt securities and/or warrants to purchase debt securities over a three-year period .
our debt issuances in 2015 were as follows : ( in millions ) type face value interest rate issuance maturity u.s .
dollar notes ( a ) $ 500 1.250% ( 1.250 % ) august 2015 august 2017 u.s .
dollar notes ( a ) $ 750 3.375% ( 3.375 % ) august 2015 august 2025 ( a ) interest on these notes is payable annually in arrears beginning in february 2016 .
the net proceeds from the sale of the securities listed in the table above will be used for general corporate purposes .
the weighted-average time to maturity of our long-term debt was 10.8 years at the end of 2014 and 10.5 years at the end of 2015 .
2022 off-balance sheet arrangements and aggregate contractual obligations we have no off-balance sheet arrangements , including special purpose entities , other than guarantees and contractual obligations discussed below. .
| 2,015
| 85
|
PM
|
Philip Morris International
|
Consumer Staples
|
Tobacco
|
New York City, New York
|
2008-03-31
| 1,413,329
|
2008 (1847)
|
what is the percentage change in total debt from 2014 to 2015?
|
3.4%
|
divide(subtract(28.5, 29.5), 29.5)
|
in addition to the committed credit facilities discussed above , certain of our subsidiaries maintain short-term credit arrangements to meet their respective working capital needs .
these credit arrangements , which amounted to approximately $ 2.9 billion at december 31 , 2015 , and $ 3.2 billion at december 31 , 2014 , are for the sole use of our subsidiaries .
borrowings under these arrangements amounted to $ 825 million at december 31 , 2015 , and $ 1.2 billion at december 31 , 2014 .
commercial paper program 2013 we have commercial paper programs in place in the u.s .
and in europe .
at december 31 , 2015 and december 31 , 2014 , we had no commercial paper outstanding .
effective april 19 , 2013 , our commercial paper program in the u.s .
was increased by $ 2.0 billion .
as a result , our commercial paper programs in place in the u.s .
and in europe currently have an aggregate issuance capacity of $ 8.0 billion .
we expect that the existence of the commercial paper program and the committed credit facilities , coupled with our operating cash flows , will enable us to meet our liquidity requirements .
sale of accounts receivable 2013 to mitigate credit risk and enhance cash and liquidity management we sell trade receivables to unaffiliated financial institutions .
these arrangements allow us to sell , on an ongoing basis , certain trade receivables without recourse .
the trade receivables sold are generally short-term in nature and are removed from the consolidated balance sheets .
we sell trade receivables under two types of arrangements , servicing and non-servicing .
pmi 2019s operating cash flows were positively impacted by the amount of the trade receivables sold and derecognized from the consolidated balance sheets , which remained outstanding with the unaffiliated financial institutions .
the trade receivables sold that remained outstanding under these arrangements as of december 31 , 2015 , 2014 and 2013 were $ 888 million , $ 120 million and $ 146 million , respectively .
the net proceeds received are included in cash provided by operating activities in the consolidated statements of cash flows .
for further details , see item 8 , note 23 .
sale of accounts receivable to our consolidated financial statements .
debt 2013 our total debt was $ 28.5 billion at december 31 , 2015 , and $ 29.5 billion at december 31 , 2014 .
our total debt is primarily fixed rate in nature .
for further details , see item 8 , note 7 .
indebtedness .
the weighted-average all-in financing cost of our total debt was 3.0% ( 3.0 % ) in 2015 , compared to 3.2% ( 3.2 % ) in 2014 .
see item 8 , note 16 .
fair value measurements to our consolidated financial statements for a discussion of our disclosures related to the fair value of debt .
the amount of debt that we can issue is subject to approval by our board of directors .
on february 21 , 2014 , we filed a shelf registration statement with the u.s .
securities and exchange commission , under which we may from time to time sell debt securities and/or warrants to purchase debt securities over a three-year period .
our debt issuances in 2015 were as follows : ( in millions ) type face value interest rate issuance maturity u.s .
dollar notes ( a ) $ 500 1.250% ( 1.250 % ) august 2015 august 2017 u.s .
dollar notes ( a ) $ 750 3.375% ( 3.375 % ) august 2015 august 2025 ( a ) interest on these notes is payable annually in arrears beginning in february 2016 .
the net proceeds from the sale of the securities listed in the table above will be used for general corporate purposes .
the weighted-average time to maturity of our long-term debt was 10.8 years at the end of 2014 and 10.5 years at the end of 2015 .
2022 off-balance sheet arrangements and aggregate contractual obligations we have no off-balance sheet arrangements , including special purpose entities , other than guarantees and contractual obligations discussed below. .
|
in addition to the committed credit facilities discussed above , certain of our subsidiaries maintain short-term credit arrangements to meet their respective working capital needs .
these credit arrangements , which amounted to approximately $ 2.9 billion at december 31 , 2015 , and $ 3.2 billion at december 31 , 2014 , are for the sole use of our subsidiaries .
borrowings under these arrangements amounted to $ 825 million at december 31 , 2015 , and $ 1.2 billion at december 31 , 2014 .
commercial paper program 2013 we have commercial paper programs in place in the u.s .
and in europe .
at december 31 , 2015 and december 31 , 2014 , we had no commercial paper outstanding .
effective april 19 , 2013 , our commercial paper program in the u.s .
was increased by $ 2.0 billion .
as a result , our commercial paper programs in place in the u.s .
and in europe currently have an aggregate issuance capacity of $ 8.0 billion .
we expect that the existence of the commercial paper program and the committed credit facilities , coupled with our operating cash flows , will enable us to meet our liquidity requirements .
sale of accounts receivable 2013 to mitigate credit risk and enhance cash and liquidity management we sell trade receivables to unaffiliated financial institutions .
these arrangements allow us to sell , on an ongoing basis , certain trade receivables without recourse .
the trade receivables sold are generally short-term in nature and are removed from the consolidated balance sheets .
we sell trade receivables under two types of arrangements , servicing and non-servicing .
pmi 2019s operating cash flows were positively impacted by the amount of the trade receivables sold and derecognized from the consolidated balance sheets , which remained outstanding with the unaffiliated financial institutions .
the trade receivables sold that remained outstanding under these arrangements as of december 31 , 2015 , 2014 and 2013 were $ 888 million , $ 120 million and $ 146 million , respectively .
the net proceeds received are included in cash provided by operating activities in the consolidated statements of cash flows .
for further details , see item 8 , note 23 .
sale of accounts receivable to our consolidated financial statements .
debt 2013 our total debt was $ 28.5 billion at december 31 , 2015 , and $ 29.5 billion at december 31 , 2014 .
our total debt is primarily fixed rate in nature .
for further details , see item 8 , note 7 .
indebtedness .
the weighted-average all-in financing cost of our total debt was 3.0% ( 3.0 % ) in 2015 , compared to 3.2% ( 3.2 % ) in 2014 .
see item 8 , note 16 .
fair value measurements to our consolidated financial statements for a discussion of our disclosures related to the fair value of debt .
the amount of debt that we can issue is subject to approval by our board of directors .
on february 21 , 2014 , we filed a shelf registration statement with the u.s .
securities and exchange commission , under which we may from time to time sell debt securities and/or warrants to purchase debt securities over a three-year period .
our debt issuances in 2015 were as follows : ( in millions ) type face value interest rate issuance maturity u.s .
dollar notes ( a ) $ 500 1.250% ( 1.250 % ) august 2015 august 2017 u.s .
dollar notes ( a ) $ 750 3.375% ( 3.375 % ) august 2015 august 2025 ( a ) interest on these notes is payable annually in arrears beginning in february 2016 .
the net proceeds from the sale of the securities listed in the table above will be used for general corporate purposes .
the weighted-average time to maturity of our long-term debt was 10.8 years at the end of 2014 and 10.5 years at the end of 2015 .
2022 off-balance sheet arrangements and aggregate contractual obligations we have no off-balance sheet arrangements , including special purpose entities , other than guarantees and contractual obligations discussed below. .
|
| | type | | face value | interest rate | issuance | maturity |
|---:|:-------------------|:------|:-------------|:-------------------|:------------|:------------|
| 0 | u.s . dollar notes | ( a ) | $ 500 | 1.250% ( 1.250 % ) | august 2015 | august 2017 |
| 1 | u.s . dollar notes | ( a ) | $ 750 | 3.375% ( 3.375 % ) | august 2015 | august 2025 |
|
in addition to the committed credit facilities discussed above , certain of our subsidiaries maintain short-term credit arrangements to meet their respective working capital needs .
these credit arrangements , which amounted to approximately $ 2.9 billion at december 31 , 2015 , and $ 3.2 billion at december 31 , 2014 , are for the sole use of our subsidiaries .
borrowings under these arrangements amounted to $ 825 million at december 31 , 2015 , and $ 1.2 billion at december 31 , 2014 .
commercial paper program 2013 we have commercial paper programs in place in the u.s .
and in europe .
at december 31 , 2015 and december 31 , 2014 , we had no commercial paper outstanding .
effective april 19 , 2013 , our commercial paper program in the u.s .
was increased by $ 2.0 billion .
as a result , our commercial paper programs in place in the u.s .
and in europe currently have an aggregate issuance capacity of $ 8.0 billion .
we expect that the existence of the commercial paper program and the committed credit facilities , coupled with our operating cash flows , will enable us to meet our liquidity requirements .
sale of accounts receivable 2013 to mitigate credit risk and enhance cash and liquidity management we sell trade receivables to unaffiliated financial institutions .
these arrangements allow us to sell , on an ongoing basis , certain trade receivables without recourse .
the trade receivables sold are generally short-term in nature and are removed from the consolidated balance sheets .
we sell trade receivables under two types of arrangements , servicing and non-servicing .
pmi 2019s operating cash flows were positively impacted by the amount of the trade receivables sold and derecognized from the consolidated balance sheets , which remained outstanding with the unaffiliated financial institutions .
the trade receivables sold that remained outstanding under these arrangements as of december 31 , 2015 , 2014 and 2013 were $ 888 million , $ 120 million and $ 146 million , respectively .
the net proceeds received are included in cash provided by operating activities in the consolidated statements of cash flows .
for further details , see item 8 , note 23 .
sale of accounts receivable to our consolidated financial statements .
debt 2013 our total debt was $ 28.5 billion at december 31 , 2015 , and $ 29.5 billion at december 31 , 2014 .
our total debt is primarily fixed rate in nature .
for further details , see item 8 , note 7 .
indebtedness .
the weighted-average all-in financing cost of our total debt was 3.0% ( 3.0 % ) in 2015 , compared to 3.2% ( 3.2 % ) in 2014 .
see item 8 , note 16 .
fair value measurements to our consolidated financial statements for a discussion of our disclosures related to the fair value of debt .
the amount of debt that we can issue is subject to approval by our board of directors .
on february 21 , 2014 , we filed a shelf registration statement with the u.s .
securities and exchange commission , under which we may from time to time sell debt securities and/or warrants to purchase debt securities over a three-year period .
our debt issuances in 2015 were as follows : ( in millions ) type face value interest rate issuance maturity u.s .
dollar notes ( a ) $ 500 1.250% ( 1.250 % ) august 2015 august 2017 u.s .
dollar notes ( a ) $ 750 3.375% ( 3.375 % ) august 2015 august 2025 ( a ) interest on these notes is payable annually in arrears beginning in february 2016 .
the net proceeds from the sale of the securities listed in the table above will be used for general corporate purposes .
the weighted-average time to maturity of our long-term debt was 10.8 years at the end of 2014 and 10.5 years at the end of 2015 .
2022 off-balance sheet arrangements and aggregate contractual obligations we have no off-balance sheet arrangements , including special purpose entities , other than guarantees and contractual obligations discussed below. ._| | type | | face value | interest rate | issuance | maturity |
|---:|:-------------------|:------|:-------------|:-------------------|:------------|:------------|
| 0 | u.s . dollar notes | ( a ) | $ 500 | 1.250% ( 1.250 % ) | august 2015 | august 2017 |
| 1 | u.s . dollar notes | ( a ) | $ 750 | 3.375% ( 3.375 % ) | august 2015 | august 2025 |_in addition to the committed credit facilities discussed above , certain of our subsidiaries maintain short-term credit arrangements to meet their respective working capital needs .
these credit arrangements , which amounted to approximately $ 2.9 billion at december 31 , 2015 , and $ 3.2 billion at december 31 , 2014 , are for the sole use of our subsidiaries .
borrowings under these arrangements amounted to $ 825 million at december 31 , 2015 , and $ 1.2 billion at december 31 , 2014 .
commercial paper program 2013 we have commercial paper programs in place in the u.s .
and in europe .
at december 31 , 2015 and december 31 , 2014 , we had no commercial paper outstanding .
effective april 19 , 2013 , our commercial paper program in the u.s .
was increased by $ 2.0 billion .
as a result , our commercial paper programs in place in the u.s .
and in europe currently have an aggregate issuance capacity of $ 8.0 billion .
we expect that the existence of the commercial paper program and the committed credit facilities , coupled with our operating cash flows , will enable us to meet our liquidity requirements .
sale of accounts receivable 2013 to mitigate credit risk and enhance cash and liquidity management we sell trade receivables to unaffiliated financial institutions .
these arrangements allow us to sell , on an ongoing basis , certain trade receivables without recourse .
the trade receivables sold are generally short-term in nature and are removed from the consolidated balance sheets .
we sell trade receivables under two types of arrangements , servicing and non-servicing .
pmi 2019s operating cash flows were positively impacted by the amount of the trade receivables sold and derecognized from the consolidated balance sheets , which remained outstanding with the unaffiliated financial institutions .
the trade receivables sold that remained outstanding under these arrangements as of december 31 , 2015 , 2014 and 2013 were $ 888 million , $ 120 million and $ 146 million , respectively .
the net proceeds received are included in cash provided by operating activities in the consolidated statements of cash flows .
for further details , see item 8 , note 23 .
sale of accounts receivable to our consolidated financial statements .
debt 2013 our total debt was $ 28.5 billion at december 31 , 2015 , and $ 29.5 billion at december 31 , 2014 .
our total debt is primarily fixed rate in nature .
for further details , see item 8 , note 7 .
indebtedness .
the weighted-average all-in financing cost of our total debt was 3.0% ( 3.0 % ) in 2015 , compared to 3.2% ( 3.2 % ) in 2014 .
see item 8 , note 16 .
fair value measurements to our consolidated financial statements for a discussion of our disclosures related to the fair value of debt .
the amount of debt that we can issue is subject to approval by our board of directors .
on february 21 , 2014 , we filed a shelf registration statement with the u.s .
securities and exchange commission , under which we may from time to time sell debt securities and/or warrants to purchase debt securities over a three-year period .
our debt issuances in 2015 were as follows : ( in millions ) type face value interest rate issuance maturity u.s .
dollar notes ( a ) $ 500 1.250% ( 1.250 % ) august 2015 august 2017 u.s .
dollar notes ( a ) $ 750 3.375% ( 3.375 % ) august 2015 august 2025 ( a ) interest on these notes is payable annually in arrears beginning in february 2016 .
the net proceeds from the sale of the securities listed in the table above will be used for general corporate purposes .
the weighted-average time to maturity of our long-term debt was 10.8 years at the end of 2014 and 10.5 years at the end of 2015 .
2022 off-balance sheet arrangements and aggregate contractual obligations we have no off-balance sheet arrangements , including special purpose entities , other than guarantees and contractual obligations discussed below. .
| 2,015
| 85
|
PM
|
Philip Morris International
|
Consumer Staples
|
Tobacco
|
New York City, New York
|
2008-03-31
| 1,413,329
|
2008 (1847)
| null | null |
finqa36
|
what was the total return percentage for e*trade financial corporation for the five years ended 12/14?
|
37.81%
|
divide(subtract(137.81, const_100), const_100)
|
the following performance graph shows the cumulative total return to a holder of the company 2019s common stock , assuming dividend reinvestment , compared with the cumulative total return , assuming dividend reinvestment , of the standard & poor ( "s&p" ) 500 index and the dow jones us financials index during the period from december 31 , 2009 through december 31 , 2014. .
|
table of contents .
|
| | | 12/09 | 12/10 | 12/11 | 12/12 | 12/13 | 12/14 |
|---:|:------------------------------|--------:|--------:|--------:|--------:|--------:|--------:|
| 0 | e*trade financial corporation | 100 | 90.91 | 45.23 | 50.85 | 111.59 | 137.81 |
| 1 | s&p 500 index | 100 | 115.06 | 117.49 | 136.3 | 180.44 | 205.14 |
| 2 | dow jones us financials index | 100 | 112.72 | 98.24 | 124.62 | 167.26 | 191.67 |
|
the following performance graph shows the cumulative total return to a holder of the company 2019s common stock , assuming dividend reinvestment , compared with the cumulative total return , assuming dividend reinvestment , of the standard & poor ( "s&p" ) 500 index and the dow jones us financials index during the period from december 31 , 2009 through december 31 , 2014. ._| | | 12/09 | 12/10 | 12/11 | 12/12 | 12/13 | 12/14 |
|---:|:------------------------------|--------:|--------:|--------:|--------:|--------:|--------:|
| 0 | e*trade financial corporation | 100 | 90.91 | 45.23 | 50.85 | 111.59 | 137.81 |
| 1 | s&p 500 index | 100 | 115.06 | 117.49 | 136.3 | 180.44 | 205.14 |
| 2 | dow jones us financials index | 100 | 112.72 | 98.24 | 124.62 | 167.26 | 191.67 |_table of contents .
| 2,014
| 26
|
ETFC
|
E*TRADE Financial Corporation
|
Financials
|
Investment Banking & Brokerage
|
Arlington, VA
|
2004-01-01
| 1,015,780
|
1982
|
what was the total return percentage for e*trade financial corporation for the five years ended 12/14?
|
37.81%
|
divide(subtract(137.81, const_100), const_100)
|
the following performance graph shows the cumulative total return to a holder of the company 2019s common stock , assuming dividend reinvestment , compared with the cumulative total return , assuming dividend reinvestment , of the standard & poor ( "s&p" ) 500 index and the dow jones us financials index during the period from december 31 , 2009 through december 31 , 2014. .
|
table of contents .
|
| | | 12/09 | 12/10 | 12/11 | 12/12 | 12/13 | 12/14 |
|---:|:------------------------------|--------:|--------:|--------:|--------:|--------:|--------:|
| 0 | e*trade financial corporation | 100 | 90.91 | 45.23 | 50.85 | 111.59 | 137.81 |
| 1 | s&p 500 index | 100 | 115.06 | 117.49 | 136.3 | 180.44 | 205.14 |
| 2 | dow jones us financials index | 100 | 112.72 | 98.24 | 124.62 | 167.26 | 191.67 |
|
the following performance graph shows the cumulative total return to a holder of the company 2019s common stock , assuming dividend reinvestment , compared with the cumulative total return , assuming dividend reinvestment , of the standard & poor ( "s&p" ) 500 index and the dow jones us financials index during the period from december 31 , 2009 through december 31 , 2014. ._| | | 12/09 | 12/10 | 12/11 | 12/12 | 12/13 | 12/14 |
|---:|:------------------------------|--------:|--------:|--------:|--------:|--------:|--------:|
| 0 | e*trade financial corporation | 100 | 90.91 | 45.23 | 50.85 | 111.59 | 137.81 |
| 1 | s&p 500 index | 100 | 115.06 | 117.49 | 136.3 | 180.44 | 205.14 |
| 2 | dow jones us financials index | 100 | 112.72 | 98.24 | 124.62 | 167.26 | 191.67 |_table of contents .
| 2,014
| 26
|
ETFC
|
E*TRADE Financial Corporation
|
Financials
|
Investment Banking & Brokerage
|
Arlington, VA
|
2004-01-01
| 1,015,780
|
1982
| null | null |
finqa37
|
what was the difference in operating profit for the americas as a percentage of net sales between 2001 and 2003?
|
3.8%
|
subtract(51.2, 47.4)
|
z i m m e r h o l d i n g s , i n c .
a n d s u b s i d i a r i e s 2 0 0 3 f o r m 1 0 - k the following table sets forth the operating profit margin by cost of products sold .
included in cost of product sold are segment for the years ended december 31 , 2003 , losses on foreign exchange hedge contracts , which increased 2002 and 2001 : in 2003 relative to 2002 .
in the fourth quarter , the company reported operating profit as a percent of net sales of percent of net sales 47.1 percent for asia pacific. .
|
operating profit for the americas as a percentage of net sales increased to 48.3 percent in 2002 from 47.4 percent in year ended december 31 , 2003 2001 , reflecting improved gross profit margins due to higher compared to year ended december 31 , 2002 average selling prices and increased sales of higher margin operating profit for the americas as a percentage of net products , and lower selling expenses as a percent of sales sales increased due to improved gross margins driven by due to lower costs associated with the u.s .
distributor higher average selling prices and increased sales of higher network .
the americas continued to invest in strategic margin products , leveraged operating expenses and the initiatives such as mis technologies , field sales personnel , favorable impact of the change in accounting principle for medical education programs and new product launches .
instruments .
the change in accounting principle for operating profit for asia pacific as a percentage of net instruments increased operating profit by 1.7 percentage sales increased to 46.1 percent in 2002 from 45.4 percent points .
with respect to sales growth , increased zimmer in 2001 .
this increase reflects lower selling , general and standalone average selling prices of 4 percent in 2003 and administrative expenses as a percent of sales in japan as favorable effects of volume and mix , 15 percent increase in a result of a sales force and dealer reorganization , partially 2003 , represent the most significant factors in improved offset by lower gross profit margins as a result of lower yen operating profit in the americas .
as reconstructive implant hedge gains compared to 2001 .
sales grow at a higher rate than trauma and orthopaedic operating profit for europe as a percentage of net sales surgical products , operating profit margins generally tend to increased to 24.4 percent in 2002 from 19.5 percent in 2001 , improve since reconstructive product sales generally earn due to improved gross profit margins as a result of higher higher gross margins .
this was the case in 2003 , with zimmer average selling prices and favorable product and country mix , standalone reconstructive implant sales growth of 22 percent the leveraging of sales growth in europe on controlled as compared with total zimmer standalone sales growth of increases in operating expenses and improved efficiency 19 percent .
in the fourth quarter , the company reported in the utilization of instruments ( more frequent use of operating profit as a percent of net sales of 50.4 percent for instruments resulted in fewer placements and less expense ) .
the americas .
operating profit for europe as a percentage of net sales liquidity and capital resources increased due to improved gross profit margins driven by cash flows provided by operations were $ 494.8 million higher zimmer standalone average selling prices and in 2003 , compared with $ 220.2 million in 2002 .
the principal favorable product and country mix , leveraged operating source of cash was net earnings before cumulative effect of expenses and the favorable impact of the change in change in accounting principle of $ 291.2 million .
non-cash accounting principle for instruments .
the change in expenses for the period included depreciation and accounting for instruments increased operating profit by amortization expense of $ 103.3 million , centerpulse inventory 1.4 percentage points .
increases in zimmer standalone step-up of $ 42.7 million and centerpulse in-process research average selling prices in europe of 2 percent in 2003 and the and development write-offs of $ 11.2 million .
working capital effect of volume and mix , 19 percent increase in 2003 , were management , together with the collection of $ 20.0 million of the key factors in improved operating profit .
also cash related to centerpulse tax loss carryforwards , contributing to the improvement was significantly lower contributed $ 80.4 million to operating cash flow .
growth in operating expenses .
in the fourth quarter , the working capital continues to be a key management focus .
company reported operating profit as a percent of net sales at december 31 , 2003 , the company had 62 days of sales of 24.7 percent for europe .
outstanding in accounts receivable , unfavorable to the prior operating profit for asia pacific as a percentage of year by 10 days .
acquired centerpulse businesses had a net sales decreased primarily due to less favorable rates on negative impact of 10 days , due to centerpulse 2019s business hedge contracts during the year compared to the prior year , mix which has a greater proportion of european revenue with partially offset by increased zimmer standalone average payment terms generally longer than those in the u.s .
at selling prices and leveraged operating expenses .
the change december 31 , 2003 , the company had 232 days of inventory in accounting for instruments had an immaterial effect on on hand compared to 247 days reported at the end of 2002 .
operating profit for asia pacific .
increases in zimmer the reduction was principally due to improved inventory standalone average selling prices in asia pacific of 1 percent management and the acquired dental and spinal businesses and volume and mix improvements of 4 percent in 2003 carrying fewer days of inventory .
contributed modest improvement but was offset by higher .
|
| | year ended december 31, | 2003 | 2002 | 2001 |
|---:|:--------------------------|:-----------------|:-----------------|:-----------------|
| 0 | americas | 51.2% ( 51.2 % ) | 48.3% ( 48.3 % ) | 47.4% ( 47.4 % ) |
| 1 | europe | 26.3 | 24.4 | 19.5 |
| 2 | asia pacific | 45.3 | 46.1 | 45.4 |
|
z i m m e r h o l d i n g s , i n c .
a n d s u b s i d i a r i e s 2 0 0 3 f o r m 1 0 - k the following table sets forth the operating profit margin by cost of products sold .
included in cost of product sold are segment for the years ended december 31 , 2003 , losses on foreign exchange hedge contracts , which increased 2002 and 2001 : in 2003 relative to 2002 .
in the fourth quarter , the company reported operating profit as a percent of net sales of percent of net sales 47.1 percent for asia pacific. ._| | year ended december 31, | 2003 | 2002 | 2001 |
|---:|:--------------------------|:-----------------|:-----------------|:-----------------|
| 0 | americas | 51.2% ( 51.2 % ) | 48.3% ( 48.3 % ) | 47.4% ( 47.4 % ) |
| 1 | europe | 26.3 | 24.4 | 19.5 |
| 2 | asia pacific | 45.3 | 46.1 | 45.4 |_operating profit for the americas as a percentage of net sales increased to 48.3 percent in 2002 from 47.4 percent in year ended december 31 , 2003 2001 , reflecting improved gross profit margins due to higher compared to year ended december 31 , 2002 average selling prices and increased sales of higher margin operating profit for the americas as a percentage of net products , and lower selling expenses as a percent of sales sales increased due to improved gross margins driven by due to lower costs associated with the u.s .
distributor higher average selling prices and increased sales of higher network .
the americas continued to invest in strategic margin products , leveraged operating expenses and the initiatives such as mis technologies , field sales personnel , favorable impact of the change in accounting principle for medical education programs and new product launches .
instruments .
the change in accounting principle for operating profit for asia pacific as a percentage of net instruments increased operating profit by 1.7 percentage sales increased to 46.1 percent in 2002 from 45.4 percent points .
with respect to sales growth , increased zimmer in 2001 .
this increase reflects lower selling , general and standalone average selling prices of 4 percent in 2003 and administrative expenses as a percent of sales in japan as favorable effects of volume and mix , 15 percent increase in a result of a sales force and dealer reorganization , partially 2003 , represent the most significant factors in improved offset by lower gross profit margins as a result of lower yen operating profit in the americas .
as reconstructive implant hedge gains compared to 2001 .
sales grow at a higher rate than trauma and orthopaedic operating profit for europe as a percentage of net sales surgical products , operating profit margins generally tend to increased to 24.4 percent in 2002 from 19.5 percent in 2001 , improve since reconstructive product sales generally earn due to improved gross profit margins as a result of higher higher gross margins .
this was the case in 2003 , with zimmer average selling prices and favorable product and country mix , standalone reconstructive implant sales growth of 22 percent the leveraging of sales growth in europe on controlled as compared with total zimmer standalone sales growth of increases in operating expenses and improved efficiency 19 percent .
in the fourth quarter , the company reported in the utilization of instruments ( more frequent use of operating profit as a percent of net sales of 50.4 percent for instruments resulted in fewer placements and less expense ) .
the americas .
operating profit for europe as a percentage of net sales liquidity and capital resources increased due to improved gross profit margins driven by cash flows provided by operations were $ 494.8 million higher zimmer standalone average selling prices and in 2003 , compared with $ 220.2 million in 2002 .
the principal favorable product and country mix , leveraged operating source of cash was net earnings before cumulative effect of expenses and the favorable impact of the change in change in accounting principle of $ 291.2 million .
non-cash accounting principle for instruments .
the change in expenses for the period included depreciation and accounting for instruments increased operating profit by amortization expense of $ 103.3 million , centerpulse inventory 1.4 percentage points .
increases in zimmer standalone step-up of $ 42.7 million and centerpulse in-process research average selling prices in europe of 2 percent in 2003 and the and development write-offs of $ 11.2 million .
working capital effect of volume and mix , 19 percent increase in 2003 , were management , together with the collection of $ 20.0 million of the key factors in improved operating profit .
also cash related to centerpulse tax loss carryforwards , contributing to the improvement was significantly lower contributed $ 80.4 million to operating cash flow .
growth in operating expenses .
in the fourth quarter , the working capital continues to be a key management focus .
company reported operating profit as a percent of net sales at december 31 , 2003 , the company had 62 days of sales of 24.7 percent for europe .
outstanding in accounts receivable , unfavorable to the prior operating profit for asia pacific as a percentage of year by 10 days .
acquired centerpulse businesses had a net sales decreased primarily due to less favorable rates on negative impact of 10 days , due to centerpulse 2019s business hedge contracts during the year compared to the prior year , mix which has a greater proportion of european revenue with partially offset by increased zimmer standalone average payment terms generally longer than those in the u.s .
at selling prices and leveraged operating expenses .
the change december 31 , 2003 , the company had 232 days of inventory in accounting for instruments had an immaterial effect on on hand compared to 247 days reported at the end of 2002 .
operating profit for asia pacific .
increases in zimmer the reduction was principally due to improved inventory standalone average selling prices in asia pacific of 1 percent management and the acquired dental and spinal businesses and volume and mix improvements of 4 percent in 2003 carrying fewer days of inventory .
contributed modest improvement but was offset by higher .
| 2,003
| 40
|
ZBH
|
Zimmer Biomet
|
Health Care
|
Health Care Equipment
|
Warsaw, Indiana
|
2001-08-07
| 1,136,869
|
1927
|
what was the difference in operating profit for the americas as a percentage of net sales between 2001 and 2003?
|
3.8%
|
subtract(51.2, 47.4)
|
z i m m e r h o l d i n g s , i n c .
a n d s u b s i d i a r i e s 2 0 0 3 f o r m 1 0 - k the following table sets forth the operating profit margin by cost of products sold .
included in cost of product sold are segment for the years ended december 31 , 2003 , losses on foreign exchange hedge contracts , which increased 2002 and 2001 : in 2003 relative to 2002 .
in the fourth quarter , the company reported operating profit as a percent of net sales of percent of net sales 47.1 percent for asia pacific. .
|
operating profit for the americas as a percentage of net sales increased to 48.3 percent in 2002 from 47.4 percent in year ended december 31 , 2003 2001 , reflecting improved gross profit margins due to higher compared to year ended december 31 , 2002 average selling prices and increased sales of higher margin operating profit for the americas as a percentage of net products , and lower selling expenses as a percent of sales sales increased due to improved gross margins driven by due to lower costs associated with the u.s .
distributor higher average selling prices and increased sales of higher network .
the americas continued to invest in strategic margin products , leveraged operating expenses and the initiatives such as mis technologies , field sales personnel , favorable impact of the change in accounting principle for medical education programs and new product launches .
instruments .
the change in accounting principle for operating profit for asia pacific as a percentage of net instruments increased operating profit by 1.7 percentage sales increased to 46.1 percent in 2002 from 45.4 percent points .
with respect to sales growth , increased zimmer in 2001 .
this increase reflects lower selling , general and standalone average selling prices of 4 percent in 2003 and administrative expenses as a percent of sales in japan as favorable effects of volume and mix , 15 percent increase in a result of a sales force and dealer reorganization , partially 2003 , represent the most significant factors in improved offset by lower gross profit margins as a result of lower yen operating profit in the americas .
as reconstructive implant hedge gains compared to 2001 .
sales grow at a higher rate than trauma and orthopaedic operating profit for europe as a percentage of net sales surgical products , operating profit margins generally tend to increased to 24.4 percent in 2002 from 19.5 percent in 2001 , improve since reconstructive product sales generally earn due to improved gross profit margins as a result of higher higher gross margins .
this was the case in 2003 , with zimmer average selling prices and favorable product and country mix , standalone reconstructive implant sales growth of 22 percent the leveraging of sales growth in europe on controlled as compared with total zimmer standalone sales growth of increases in operating expenses and improved efficiency 19 percent .
in the fourth quarter , the company reported in the utilization of instruments ( more frequent use of operating profit as a percent of net sales of 50.4 percent for instruments resulted in fewer placements and less expense ) .
the americas .
operating profit for europe as a percentage of net sales liquidity and capital resources increased due to improved gross profit margins driven by cash flows provided by operations were $ 494.8 million higher zimmer standalone average selling prices and in 2003 , compared with $ 220.2 million in 2002 .
the principal favorable product and country mix , leveraged operating source of cash was net earnings before cumulative effect of expenses and the favorable impact of the change in change in accounting principle of $ 291.2 million .
non-cash accounting principle for instruments .
the change in expenses for the period included depreciation and accounting for instruments increased operating profit by amortization expense of $ 103.3 million , centerpulse inventory 1.4 percentage points .
increases in zimmer standalone step-up of $ 42.7 million and centerpulse in-process research average selling prices in europe of 2 percent in 2003 and the and development write-offs of $ 11.2 million .
working capital effect of volume and mix , 19 percent increase in 2003 , were management , together with the collection of $ 20.0 million of the key factors in improved operating profit .
also cash related to centerpulse tax loss carryforwards , contributing to the improvement was significantly lower contributed $ 80.4 million to operating cash flow .
growth in operating expenses .
in the fourth quarter , the working capital continues to be a key management focus .
company reported operating profit as a percent of net sales at december 31 , 2003 , the company had 62 days of sales of 24.7 percent for europe .
outstanding in accounts receivable , unfavorable to the prior operating profit for asia pacific as a percentage of year by 10 days .
acquired centerpulse businesses had a net sales decreased primarily due to less favorable rates on negative impact of 10 days , due to centerpulse 2019s business hedge contracts during the year compared to the prior year , mix which has a greater proportion of european revenue with partially offset by increased zimmer standalone average payment terms generally longer than those in the u.s .
at selling prices and leveraged operating expenses .
the change december 31 , 2003 , the company had 232 days of inventory in accounting for instruments had an immaterial effect on on hand compared to 247 days reported at the end of 2002 .
operating profit for asia pacific .
increases in zimmer the reduction was principally due to improved inventory standalone average selling prices in asia pacific of 1 percent management and the acquired dental and spinal businesses and volume and mix improvements of 4 percent in 2003 carrying fewer days of inventory .
contributed modest improvement but was offset by higher .
|
| | year ended december 31, | 2003 | 2002 | 2001 |
|---:|:--------------------------|:-----------------|:-----------------|:-----------------|
| 0 | americas | 51.2% ( 51.2 % ) | 48.3% ( 48.3 % ) | 47.4% ( 47.4 % ) |
| 1 | europe | 26.3 | 24.4 | 19.5 |
| 2 | asia pacific | 45.3 | 46.1 | 45.4 |
|
z i m m e r h o l d i n g s , i n c .
a n d s u b s i d i a r i e s 2 0 0 3 f o r m 1 0 - k the following table sets forth the operating profit margin by cost of products sold .
included in cost of product sold are segment for the years ended december 31 , 2003 , losses on foreign exchange hedge contracts , which increased 2002 and 2001 : in 2003 relative to 2002 .
in the fourth quarter , the company reported operating profit as a percent of net sales of percent of net sales 47.1 percent for asia pacific. ._| | year ended december 31, | 2003 | 2002 | 2001 |
|---:|:--------------------------|:-----------------|:-----------------|:-----------------|
| 0 | americas | 51.2% ( 51.2 % ) | 48.3% ( 48.3 % ) | 47.4% ( 47.4 % ) |
| 1 | europe | 26.3 | 24.4 | 19.5 |
| 2 | asia pacific | 45.3 | 46.1 | 45.4 |_operating profit for the americas as a percentage of net sales increased to 48.3 percent in 2002 from 47.4 percent in year ended december 31 , 2003 2001 , reflecting improved gross profit margins due to higher compared to year ended december 31 , 2002 average selling prices and increased sales of higher margin operating profit for the americas as a percentage of net products , and lower selling expenses as a percent of sales sales increased due to improved gross margins driven by due to lower costs associated with the u.s .
distributor higher average selling prices and increased sales of higher network .
the americas continued to invest in strategic margin products , leveraged operating expenses and the initiatives such as mis technologies , field sales personnel , favorable impact of the change in accounting principle for medical education programs and new product launches .
instruments .
the change in accounting principle for operating profit for asia pacific as a percentage of net instruments increased operating profit by 1.7 percentage sales increased to 46.1 percent in 2002 from 45.4 percent points .
with respect to sales growth , increased zimmer in 2001 .
this increase reflects lower selling , general and standalone average selling prices of 4 percent in 2003 and administrative expenses as a percent of sales in japan as favorable effects of volume and mix , 15 percent increase in a result of a sales force and dealer reorganization , partially 2003 , represent the most significant factors in improved offset by lower gross profit margins as a result of lower yen operating profit in the americas .
as reconstructive implant hedge gains compared to 2001 .
sales grow at a higher rate than trauma and orthopaedic operating profit for europe as a percentage of net sales surgical products , operating profit margins generally tend to increased to 24.4 percent in 2002 from 19.5 percent in 2001 , improve since reconstructive product sales generally earn due to improved gross profit margins as a result of higher higher gross margins .
this was the case in 2003 , with zimmer average selling prices and favorable product and country mix , standalone reconstructive implant sales growth of 22 percent the leveraging of sales growth in europe on controlled as compared with total zimmer standalone sales growth of increases in operating expenses and improved efficiency 19 percent .
in the fourth quarter , the company reported in the utilization of instruments ( more frequent use of operating profit as a percent of net sales of 50.4 percent for instruments resulted in fewer placements and less expense ) .
the americas .
operating profit for europe as a percentage of net sales liquidity and capital resources increased due to improved gross profit margins driven by cash flows provided by operations were $ 494.8 million higher zimmer standalone average selling prices and in 2003 , compared with $ 220.2 million in 2002 .
the principal favorable product and country mix , leveraged operating source of cash was net earnings before cumulative effect of expenses and the favorable impact of the change in change in accounting principle of $ 291.2 million .
non-cash accounting principle for instruments .
the change in expenses for the period included depreciation and accounting for instruments increased operating profit by amortization expense of $ 103.3 million , centerpulse inventory 1.4 percentage points .
increases in zimmer standalone step-up of $ 42.7 million and centerpulse in-process research average selling prices in europe of 2 percent in 2003 and the and development write-offs of $ 11.2 million .
working capital effect of volume and mix , 19 percent increase in 2003 , were management , together with the collection of $ 20.0 million of the key factors in improved operating profit .
also cash related to centerpulse tax loss carryforwards , contributing to the improvement was significantly lower contributed $ 80.4 million to operating cash flow .
growth in operating expenses .
in the fourth quarter , the working capital continues to be a key management focus .
company reported operating profit as a percent of net sales at december 31 , 2003 , the company had 62 days of sales of 24.7 percent for europe .
outstanding in accounts receivable , unfavorable to the prior operating profit for asia pacific as a percentage of year by 10 days .
acquired centerpulse businesses had a net sales decreased primarily due to less favorable rates on negative impact of 10 days , due to centerpulse 2019s business hedge contracts during the year compared to the prior year , mix which has a greater proportion of european revenue with partially offset by increased zimmer standalone average payment terms generally longer than those in the u.s .
at selling prices and leveraged operating expenses .
the change december 31 , 2003 , the company had 232 days of inventory in accounting for instruments had an immaterial effect on on hand compared to 247 days reported at the end of 2002 .
operating profit for asia pacific .
increases in zimmer the reduction was principally due to improved inventory standalone average selling prices in asia pacific of 1 percent management and the acquired dental and spinal businesses and volume and mix improvements of 4 percent in 2003 carrying fewer days of inventory .
contributed modest improvement but was offset by higher .
| 2,003
| 40
|
ZBH
|
Zimmer Biomet
|
Health Care
|
Health Care Equipment
|
Warsaw, Indiana
|
2001-08-07
| 1,136,869
|
1927
| null | null |
finqa38
|
what was the change in amount of long term debt between 2014 and 2012?
|
28987
|
subtract(28987, 0)
|
table of contents liquidity and capital resources the following table presents selected financial information and statistics as of and for the years ended september 27 , 2014 , september 28 , 2013 and september 29 , 2012 ( in millions ) : the company believes its existing balances of cash , cash equivalents and marketable securities will be sufficient to satisfy its working capital needs , capital asset purchases , outstanding commitments and other liquidity requirements associated with its existing operations over the next 12 months .
to provide additional flexibility in managing liquidity , the company began accessing the commercial paper markets in the third quarter of 2014 .
the company currently anticipates the cash used for future dividends and the share repurchase program will come from its current domestic cash , cash generated from on-going u.s .
operating activities and from borrowings .
as of september 27 , 2014 and september 28 , 2013 , $ 137.1 billion and $ 111.3 billion , respectively , of the company 2019s cash , cash equivalents and marketable securities were held by foreign subsidiaries and are generally based in u.s .
dollar-denominated holdings .
amounts held by foreign subsidiaries are generally subject to u.s .
income taxation on repatriation to the u.s .
the company 2019s marketable securities investment portfolio is invested primarily in highly-rated securities and its investment policy generally limits the amount of credit exposure to any one issuer .
the policy requires investments generally to be investment grade with the objective of minimizing the potential risk of principal loss .
during 2014 , cash generated from operating activities of $ 59.7 billion was a result of $ 39.5 billion of net income , non-cash adjustments to net income of $ 13.2 billion and an increase in net change in operating assets and liabilities of $ 7.0 billion .
cash used in investing activities of $ 22.6 billion during 2014 consisted primarily of cash used for purchases of marketable securities , net of sales and maturities , of $ 9.0 billion ; cash used to acquire property , plant and equipment of $ 9.6 billion ; and cash paid for business acquisitions , net of cash acquired , of $ 3.8 billion .
cash used in financing activities of $ 37.5 billion during 2014 consisted primarily of cash used to repurchase common stock of $ 45.0 billion and cash used to pay dividends and dividend equivalents of $ 11.1 billion , partially offset by net proceeds from the issuance of long-term debt and commercial paper of $ 12.0 billion and $ 6.3 billion , respectively .
during 2013 , cash generated from operating activities of $ 53.7 billion was a result of $ 37.0 billion of net income , non-cash adjustments to net income of $ 10.2 billion and an increase in net change in operating assets and liabilities of $ 6.5 billion .
cash used in investing activities of $ 33.8 billion during 2013 consisted primarily of cash used for purchases of marketable securities , net of sales and maturities , of $ 24.0 billion and cash used to acquire property , plant and equipment of $ 8.2 billion .
cash used in financing activities of $ 16.4 billion during 2013 consisted primarily of cash used to repurchase common stock of $ 22.9 billion and cash used to pay dividends and dividend equivalents of $ 10.6 billion , partially offset by net proceeds from the issuance of long-term debt of $ 16.9 billion .
apple inc .
| 2014 form 10-k | 35 .
|
.
|
| | | 2014 | 2013 | 2012 |
|---:|:------------------------------------------------|:-------------------|:-------------------|:-------------------|
| 0 | cash cash equivalents and marketable securities | $ 155239 | $ 146761 | $ 121251 |
| 1 | property plant and equipment net | $ 20624 | $ 16597 | $ 15452 |
| 2 | long-term debt | $ 28987 | $ 16960 | $ 0 |
| 3 | working capital | $ 5083 | $ 29628 | $ 19111 |
| 4 | cash generated by operating activities | $ 59713 | $ 53666 | $ 50856 |
| 5 | cash used in investing activities | $ -22579 ( 22579 ) | $ -33774 ( 33774 ) | $ -48227 ( 48227 ) |
| 6 | cash used in financing activities | $ -37549 ( 37549 ) | $ -16379 ( 16379 ) | $ -1698 ( 1698 ) |
|
table of contents liquidity and capital resources the following table presents selected financial information and statistics as of and for the years ended september 27 , 2014 , september 28 , 2013 and september 29 , 2012 ( in millions ) : the company believes its existing balances of cash , cash equivalents and marketable securities will be sufficient to satisfy its working capital needs , capital asset purchases , outstanding commitments and other liquidity requirements associated with its existing operations over the next 12 months .
to provide additional flexibility in managing liquidity , the company began accessing the commercial paper markets in the third quarter of 2014 .
the company currently anticipates the cash used for future dividends and the share repurchase program will come from its current domestic cash , cash generated from on-going u.s .
operating activities and from borrowings .
as of september 27 , 2014 and september 28 , 2013 , $ 137.1 billion and $ 111.3 billion , respectively , of the company 2019s cash , cash equivalents and marketable securities were held by foreign subsidiaries and are generally based in u.s .
dollar-denominated holdings .
amounts held by foreign subsidiaries are generally subject to u.s .
income taxation on repatriation to the u.s .
the company 2019s marketable securities investment portfolio is invested primarily in highly-rated securities and its investment policy generally limits the amount of credit exposure to any one issuer .
the policy requires investments generally to be investment grade with the objective of minimizing the potential risk of principal loss .
during 2014 , cash generated from operating activities of $ 59.7 billion was a result of $ 39.5 billion of net income , non-cash adjustments to net income of $ 13.2 billion and an increase in net change in operating assets and liabilities of $ 7.0 billion .
cash used in investing activities of $ 22.6 billion during 2014 consisted primarily of cash used for purchases of marketable securities , net of sales and maturities , of $ 9.0 billion ; cash used to acquire property , plant and equipment of $ 9.6 billion ; and cash paid for business acquisitions , net of cash acquired , of $ 3.8 billion .
cash used in financing activities of $ 37.5 billion during 2014 consisted primarily of cash used to repurchase common stock of $ 45.0 billion and cash used to pay dividends and dividend equivalents of $ 11.1 billion , partially offset by net proceeds from the issuance of long-term debt and commercial paper of $ 12.0 billion and $ 6.3 billion , respectively .
during 2013 , cash generated from operating activities of $ 53.7 billion was a result of $ 37.0 billion of net income , non-cash adjustments to net income of $ 10.2 billion and an increase in net change in operating assets and liabilities of $ 6.5 billion .
cash used in investing activities of $ 33.8 billion during 2013 consisted primarily of cash used for purchases of marketable securities , net of sales and maturities , of $ 24.0 billion and cash used to acquire property , plant and equipment of $ 8.2 billion .
cash used in financing activities of $ 16.4 billion during 2013 consisted primarily of cash used to repurchase common stock of $ 22.9 billion and cash used to pay dividends and dividend equivalents of $ 10.6 billion , partially offset by net proceeds from the issuance of long-term debt of $ 16.9 billion .
apple inc .
| 2014 form 10-k | 35 ._| | | 2014 | 2013 | 2012 |
|---:|:------------------------------------------------|:-------------------|:-------------------|:-------------------|
| 0 | cash cash equivalents and marketable securities | $ 155239 | $ 146761 | $ 121251 |
| 1 | property plant and equipment net | $ 20624 | $ 16597 | $ 15452 |
| 2 | long-term debt | $ 28987 | $ 16960 | $ 0 |
| 3 | working capital | $ 5083 | $ 29628 | $ 19111 |
| 4 | cash generated by operating activities | $ 59713 | $ 53666 | $ 50856 |
| 5 | cash used in investing activities | $ -22579 ( 22579 ) | $ -33774 ( 33774 ) | $ -48227 ( 48227 ) |
| 6 | cash used in financing activities | $ -37549 ( 37549 ) | $ -16379 ( 16379 ) | $ -1698 ( 1698 ) |_.
| 2,014
| 38
|
AAPL
|
Apple Inc.
|
Information Technology
|
Technology Hardware, Storage & Peripherals
|
Cupertino, California
|
1982-11-30
| 320,193
|
1977
|
what was the change in amount of long term debt between 2014 and 2012?
|
28987
|
subtract(28987, 0)
|
table of contents liquidity and capital resources the following table presents selected financial information and statistics as of and for the years ended september 27 , 2014 , september 28 , 2013 and september 29 , 2012 ( in millions ) : the company believes its existing balances of cash , cash equivalents and marketable securities will be sufficient to satisfy its working capital needs , capital asset purchases , outstanding commitments and other liquidity requirements associated with its existing operations over the next 12 months .
to provide additional flexibility in managing liquidity , the company began accessing the commercial paper markets in the third quarter of 2014 .
the company currently anticipates the cash used for future dividends and the share repurchase program will come from its current domestic cash , cash generated from on-going u.s .
operating activities and from borrowings .
as of september 27 , 2014 and september 28 , 2013 , $ 137.1 billion and $ 111.3 billion , respectively , of the company 2019s cash , cash equivalents and marketable securities were held by foreign subsidiaries and are generally based in u.s .
dollar-denominated holdings .
amounts held by foreign subsidiaries are generally subject to u.s .
income taxation on repatriation to the u.s .
the company 2019s marketable securities investment portfolio is invested primarily in highly-rated securities and its investment policy generally limits the amount of credit exposure to any one issuer .
the policy requires investments generally to be investment grade with the objective of minimizing the potential risk of principal loss .
during 2014 , cash generated from operating activities of $ 59.7 billion was a result of $ 39.5 billion of net income , non-cash adjustments to net income of $ 13.2 billion and an increase in net change in operating assets and liabilities of $ 7.0 billion .
cash used in investing activities of $ 22.6 billion during 2014 consisted primarily of cash used for purchases of marketable securities , net of sales and maturities , of $ 9.0 billion ; cash used to acquire property , plant and equipment of $ 9.6 billion ; and cash paid for business acquisitions , net of cash acquired , of $ 3.8 billion .
cash used in financing activities of $ 37.5 billion during 2014 consisted primarily of cash used to repurchase common stock of $ 45.0 billion and cash used to pay dividends and dividend equivalents of $ 11.1 billion , partially offset by net proceeds from the issuance of long-term debt and commercial paper of $ 12.0 billion and $ 6.3 billion , respectively .
during 2013 , cash generated from operating activities of $ 53.7 billion was a result of $ 37.0 billion of net income , non-cash adjustments to net income of $ 10.2 billion and an increase in net change in operating assets and liabilities of $ 6.5 billion .
cash used in investing activities of $ 33.8 billion during 2013 consisted primarily of cash used for purchases of marketable securities , net of sales and maturities , of $ 24.0 billion and cash used to acquire property , plant and equipment of $ 8.2 billion .
cash used in financing activities of $ 16.4 billion during 2013 consisted primarily of cash used to repurchase common stock of $ 22.9 billion and cash used to pay dividends and dividend equivalents of $ 10.6 billion , partially offset by net proceeds from the issuance of long-term debt of $ 16.9 billion .
apple inc .
| 2014 form 10-k | 35 .
|
.
|
| | | 2014 | 2013 | 2012 |
|---:|:------------------------------------------------|:-------------------|:-------------------|:-------------------|
| 0 | cash cash equivalents and marketable securities | $ 155239 | $ 146761 | $ 121251 |
| 1 | property plant and equipment net | $ 20624 | $ 16597 | $ 15452 |
| 2 | long-term debt | $ 28987 | $ 16960 | $ 0 |
| 3 | working capital | $ 5083 | $ 29628 | $ 19111 |
| 4 | cash generated by operating activities | $ 59713 | $ 53666 | $ 50856 |
| 5 | cash used in investing activities | $ -22579 ( 22579 ) | $ -33774 ( 33774 ) | $ -48227 ( 48227 ) |
| 6 | cash used in financing activities | $ -37549 ( 37549 ) | $ -16379 ( 16379 ) | $ -1698 ( 1698 ) |
|
table of contents liquidity and capital resources the following table presents selected financial information and statistics as of and for the years ended september 27 , 2014 , september 28 , 2013 and september 29 , 2012 ( in millions ) : the company believes its existing balances of cash , cash equivalents and marketable securities will be sufficient to satisfy its working capital needs , capital asset purchases , outstanding commitments and other liquidity requirements associated with its existing operations over the next 12 months .
to provide additional flexibility in managing liquidity , the company began accessing the commercial paper markets in the third quarter of 2014 .
the company currently anticipates the cash used for future dividends and the share repurchase program will come from its current domestic cash , cash generated from on-going u.s .
operating activities and from borrowings .
as of september 27 , 2014 and september 28 , 2013 , $ 137.1 billion and $ 111.3 billion , respectively , of the company 2019s cash , cash equivalents and marketable securities were held by foreign subsidiaries and are generally based in u.s .
dollar-denominated holdings .
amounts held by foreign subsidiaries are generally subject to u.s .
income taxation on repatriation to the u.s .
the company 2019s marketable securities investment portfolio is invested primarily in highly-rated securities and its investment policy generally limits the amount of credit exposure to any one issuer .
the policy requires investments generally to be investment grade with the objective of minimizing the potential risk of principal loss .
during 2014 , cash generated from operating activities of $ 59.7 billion was a result of $ 39.5 billion of net income , non-cash adjustments to net income of $ 13.2 billion and an increase in net change in operating assets and liabilities of $ 7.0 billion .
cash used in investing activities of $ 22.6 billion during 2014 consisted primarily of cash used for purchases of marketable securities , net of sales and maturities , of $ 9.0 billion ; cash used to acquire property , plant and equipment of $ 9.6 billion ; and cash paid for business acquisitions , net of cash acquired , of $ 3.8 billion .
cash used in financing activities of $ 37.5 billion during 2014 consisted primarily of cash used to repurchase common stock of $ 45.0 billion and cash used to pay dividends and dividend equivalents of $ 11.1 billion , partially offset by net proceeds from the issuance of long-term debt and commercial paper of $ 12.0 billion and $ 6.3 billion , respectively .
during 2013 , cash generated from operating activities of $ 53.7 billion was a result of $ 37.0 billion of net income , non-cash adjustments to net income of $ 10.2 billion and an increase in net change in operating assets and liabilities of $ 6.5 billion .
cash used in investing activities of $ 33.8 billion during 2013 consisted primarily of cash used for purchases of marketable securities , net of sales and maturities , of $ 24.0 billion and cash used to acquire property , plant and equipment of $ 8.2 billion .
cash used in financing activities of $ 16.4 billion during 2013 consisted primarily of cash used to repurchase common stock of $ 22.9 billion and cash used to pay dividends and dividend equivalents of $ 10.6 billion , partially offset by net proceeds from the issuance of long-term debt of $ 16.9 billion .
apple inc .
| 2014 form 10-k | 35 ._| | | 2014 | 2013 | 2012 |
|---:|:------------------------------------------------|:-------------------|:-------------------|:-------------------|
| 0 | cash cash equivalents and marketable securities | $ 155239 | $ 146761 | $ 121251 |
| 1 | property plant and equipment net | $ 20624 | $ 16597 | $ 15452 |
| 2 | long-term debt | $ 28987 | $ 16960 | $ 0 |
| 3 | working capital | $ 5083 | $ 29628 | $ 19111 |
| 4 | cash generated by operating activities | $ 59713 | $ 53666 | $ 50856 |
| 5 | cash used in investing activities | $ -22579 ( 22579 ) | $ -33774 ( 33774 ) | $ -48227 ( 48227 ) |
| 6 | cash used in financing activities | $ -37549 ( 37549 ) | $ -16379 ( 16379 ) | $ -1698 ( 1698 ) |_.
| 2,014
| 38
|
AAPL
|
Apple Inc.
|
Information Technology
|
Technology Hardware, Storage & Peripherals
|
Cupertino, California
|
1982-11-30
| 320,193
|
1977
| null | null |
finqa39
|
what amount of long-term debt due in the next 36 months as of december 31 , 2003 , in millions?
|
1041.5
|
divide(add(add(503215, 462420), 75896), const_1000)
|
entergy corporation notes to consolidated financial statements ( a ) consists of pollution control revenue bonds and environmental revenue bonds , certain series of which are secured by non-interest bearing first mortgage bonds .
( b ) the bonds are subject to mandatory tender for purchase from the holders at 100% ( 100 % ) of the principal amount outstanding on september 1 , 2005 and can then be remarketed .
( c ) the bonds are subject to mandatory tender for purchase from the holders at 100% ( 100 % ) of the principal amount outstanding on september 1 , 2004 and can then be remarketed .
( d ) the bonds had a mandatory tender date of october 1 , 2003 .
entergy louisiana purchased the bonds from the holders , pursuant to the mandatory tender provision , and has not remarketed the bonds at this time .
entergy louisiana used a combination of cash on hand and short-term borrowing to buy-in the bonds .
( e ) on june 1 , 2002 , entergy louisiana remarketed $ 55 million st .
charles parish pollution control revenue refunding bonds due 2030 , resetting the interest rate to 4.9% ( 4.9 % ) through may 2005 .
( f ) the bonds are subject to mandatory tender for purchase from the holders at 100% ( 100 % ) of the principal amount outstanding on june 1 , 2005 and can then be remarketed .
( g ) pursuant to the nuclear waste policy act of 1982 , entergy's nuclear owner/licensee subsidiaries have contracts with the doe for spent nuclear fuel disposal service .
the contracts include a one-time fee for generation prior to april 7 , 1983 .
entergy arkansas is the only entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee , plus accrued interest , in long-term ( h ) the fair value excludes lease obligations , long-term doe obligations , and other long-term debt and includes debt due within one year .
it is determined using bid prices reported by dealer markets and by nationally recognized investment banking firms .
the annual long-term debt maturities ( excluding lease obligations ) for debt outstanding as of december 31 , 2003 , for the next five years are as follows: .
|
in november 2000 , entergy's non-utility nuclear business purchased the fitzpatrick and indian point 3 power plants in a seller-financed transaction .
entergy issued notes to nypa with seven annual installments of approximately $ 108 million commencing one year from the date of the closing , and eight annual installments of $ 20 million commencing eight years from the date of the closing .
these notes do not have a stated interest rate , but have an implicit interest rate of 4.8% ( 4.8 % ) .
in accordance with the purchase agreement with nypa , the purchase of indian point 2 resulted in entergy's non-utility nuclear business becoming liable to nypa for an additional $ 10 million per year for 10 years , beginning in september 2003 .
this liability was recorded upon the purchase of indian point 2 in september 2001 , and is included in the note payable to nypa balance above .
in july 2003 , a payment of $ 102 million was made prior to maturity on the note payable to nypa .
under a provision in a letter of credit supporting these notes , if certain of the domestic utility companies or system energy were to default on other indebtedness , entergy could be required to post collateral to support the letter of credit .
covenants in the entergy corporation notes require it to maintain a consolidated debt ratio of 65% ( 65 % ) or less of its total capitalization .
if entergy's debt ratio exceeds this limit , or if entergy or certain of the domestic utility companies default on other indebtedness or are in bankruptcy or insolvency proceedings , an acceleration of the notes' maturity dates may occur. .
|
| | | ( in thousands ) |
|---:|-----:|:-------------------|
| 0 | 2004 | $ 503215 |
| 1 | 2005 | $ 462420 |
| 2 | 2006 | $ 75896 |
| 3 | 2007 | $ 624539 |
| 4 | 2008 | $ 941625 |
|
entergy corporation notes to consolidated financial statements ( a ) consists of pollution control revenue bonds and environmental revenue bonds , certain series of which are secured by non-interest bearing first mortgage bonds .
( b ) the bonds are subject to mandatory tender for purchase from the holders at 100% ( 100 % ) of the principal amount outstanding on september 1 , 2005 and can then be remarketed .
( c ) the bonds are subject to mandatory tender for purchase from the holders at 100% ( 100 % ) of the principal amount outstanding on september 1 , 2004 and can then be remarketed .
( d ) the bonds had a mandatory tender date of october 1 , 2003 .
entergy louisiana purchased the bonds from the holders , pursuant to the mandatory tender provision , and has not remarketed the bonds at this time .
entergy louisiana used a combination of cash on hand and short-term borrowing to buy-in the bonds .
( e ) on june 1 , 2002 , entergy louisiana remarketed $ 55 million st .
charles parish pollution control revenue refunding bonds due 2030 , resetting the interest rate to 4.9% ( 4.9 % ) through may 2005 .
( f ) the bonds are subject to mandatory tender for purchase from the holders at 100% ( 100 % ) of the principal amount outstanding on june 1 , 2005 and can then be remarketed .
( g ) pursuant to the nuclear waste policy act of 1982 , entergy's nuclear owner/licensee subsidiaries have contracts with the doe for spent nuclear fuel disposal service .
the contracts include a one-time fee for generation prior to april 7 , 1983 .
entergy arkansas is the only entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee , plus accrued interest , in long-term ( h ) the fair value excludes lease obligations , long-term doe obligations , and other long-term debt and includes debt due within one year .
it is determined using bid prices reported by dealer markets and by nationally recognized investment banking firms .
the annual long-term debt maturities ( excluding lease obligations ) for debt outstanding as of december 31 , 2003 , for the next five years are as follows: ._| | | ( in thousands ) |
|---:|-----:|:-------------------|
| 0 | 2004 | $ 503215 |
| 1 | 2005 | $ 462420 |
| 2 | 2006 | $ 75896 |
| 3 | 2007 | $ 624539 |
| 4 | 2008 | $ 941625 |_in november 2000 , entergy's non-utility nuclear business purchased the fitzpatrick and indian point 3 power plants in a seller-financed transaction .
entergy issued notes to nypa with seven annual installments of approximately $ 108 million commencing one year from the date of the closing , and eight annual installments of $ 20 million commencing eight years from the date of the closing .
these notes do not have a stated interest rate , but have an implicit interest rate of 4.8% ( 4.8 % ) .
in accordance with the purchase agreement with nypa , the purchase of indian point 2 resulted in entergy's non-utility nuclear business becoming liable to nypa for an additional $ 10 million per year for 10 years , beginning in september 2003 .
this liability was recorded upon the purchase of indian point 2 in september 2001 , and is included in the note payable to nypa balance above .
in july 2003 , a payment of $ 102 million was made prior to maturity on the note payable to nypa .
under a provision in a letter of credit supporting these notes , if certain of the domestic utility companies or system energy were to default on other indebtedness , entergy could be required to post collateral to support the letter of credit .
covenants in the entergy corporation notes require it to maintain a consolidated debt ratio of 65% ( 65 % ) or less of its total capitalization .
if entergy's debt ratio exceeds this limit , or if entergy or certain of the domestic utility companies default on other indebtedness or are in bankruptcy or insolvency proceedings , an acceleration of the notes' maturity dates may occur. .
| 2,003
| 84
|
ETR
|
Entergy
|
Utilities
|
Electric Utilities
|
New Orleans, Louisiana
|
1957-03-04
| 65,984
|
1913
|
what amount of long-term debt due in the next 36 months as of december 31 , 2003 , in millions?
|
1041.5
|
divide(add(add(503215, 462420), 75896), const_1000)
|
entergy corporation notes to consolidated financial statements ( a ) consists of pollution control revenue bonds and environmental revenue bonds , certain series of which are secured by non-interest bearing first mortgage bonds .
( b ) the bonds are subject to mandatory tender for purchase from the holders at 100% ( 100 % ) of the principal amount outstanding on september 1 , 2005 and can then be remarketed .
( c ) the bonds are subject to mandatory tender for purchase from the holders at 100% ( 100 % ) of the principal amount outstanding on september 1 , 2004 and can then be remarketed .
( d ) the bonds had a mandatory tender date of october 1 , 2003 .
entergy louisiana purchased the bonds from the holders , pursuant to the mandatory tender provision , and has not remarketed the bonds at this time .
entergy louisiana used a combination of cash on hand and short-term borrowing to buy-in the bonds .
( e ) on june 1 , 2002 , entergy louisiana remarketed $ 55 million st .
charles parish pollution control revenue refunding bonds due 2030 , resetting the interest rate to 4.9% ( 4.9 % ) through may 2005 .
( f ) the bonds are subject to mandatory tender for purchase from the holders at 100% ( 100 % ) of the principal amount outstanding on june 1 , 2005 and can then be remarketed .
( g ) pursuant to the nuclear waste policy act of 1982 , entergy's nuclear owner/licensee subsidiaries have contracts with the doe for spent nuclear fuel disposal service .
the contracts include a one-time fee for generation prior to april 7 , 1983 .
entergy arkansas is the only entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee , plus accrued interest , in long-term ( h ) the fair value excludes lease obligations , long-term doe obligations , and other long-term debt and includes debt due within one year .
it is determined using bid prices reported by dealer markets and by nationally recognized investment banking firms .
the annual long-term debt maturities ( excluding lease obligations ) for debt outstanding as of december 31 , 2003 , for the next five years are as follows: .
|
in november 2000 , entergy's non-utility nuclear business purchased the fitzpatrick and indian point 3 power plants in a seller-financed transaction .
entergy issued notes to nypa with seven annual installments of approximately $ 108 million commencing one year from the date of the closing , and eight annual installments of $ 20 million commencing eight years from the date of the closing .
these notes do not have a stated interest rate , but have an implicit interest rate of 4.8% ( 4.8 % ) .
in accordance with the purchase agreement with nypa , the purchase of indian point 2 resulted in entergy's non-utility nuclear business becoming liable to nypa for an additional $ 10 million per year for 10 years , beginning in september 2003 .
this liability was recorded upon the purchase of indian point 2 in september 2001 , and is included in the note payable to nypa balance above .
in july 2003 , a payment of $ 102 million was made prior to maturity on the note payable to nypa .
under a provision in a letter of credit supporting these notes , if certain of the domestic utility companies or system energy were to default on other indebtedness , entergy could be required to post collateral to support the letter of credit .
covenants in the entergy corporation notes require it to maintain a consolidated debt ratio of 65% ( 65 % ) or less of its total capitalization .
if entergy's debt ratio exceeds this limit , or if entergy or certain of the domestic utility companies default on other indebtedness or are in bankruptcy or insolvency proceedings , an acceleration of the notes' maturity dates may occur. .
|
| | | ( in thousands ) |
|---:|-----:|:-------------------|
| 0 | 2004 | $ 503215 |
| 1 | 2005 | $ 462420 |
| 2 | 2006 | $ 75896 |
| 3 | 2007 | $ 624539 |
| 4 | 2008 | $ 941625 |
|
entergy corporation notes to consolidated financial statements ( a ) consists of pollution control revenue bonds and environmental revenue bonds , certain series of which are secured by non-interest bearing first mortgage bonds .
( b ) the bonds are subject to mandatory tender for purchase from the holders at 100% ( 100 % ) of the principal amount outstanding on september 1 , 2005 and can then be remarketed .
( c ) the bonds are subject to mandatory tender for purchase from the holders at 100% ( 100 % ) of the principal amount outstanding on september 1 , 2004 and can then be remarketed .
( d ) the bonds had a mandatory tender date of october 1 , 2003 .
entergy louisiana purchased the bonds from the holders , pursuant to the mandatory tender provision , and has not remarketed the bonds at this time .
entergy louisiana used a combination of cash on hand and short-term borrowing to buy-in the bonds .
( e ) on june 1 , 2002 , entergy louisiana remarketed $ 55 million st .
charles parish pollution control revenue refunding bonds due 2030 , resetting the interest rate to 4.9% ( 4.9 % ) through may 2005 .
( f ) the bonds are subject to mandatory tender for purchase from the holders at 100% ( 100 % ) of the principal amount outstanding on june 1 , 2005 and can then be remarketed .
( g ) pursuant to the nuclear waste policy act of 1982 , entergy's nuclear owner/licensee subsidiaries have contracts with the doe for spent nuclear fuel disposal service .
the contracts include a one-time fee for generation prior to april 7 , 1983 .
entergy arkansas is the only entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee , plus accrued interest , in long-term ( h ) the fair value excludes lease obligations , long-term doe obligations , and other long-term debt and includes debt due within one year .
it is determined using bid prices reported by dealer markets and by nationally recognized investment banking firms .
the annual long-term debt maturities ( excluding lease obligations ) for debt outstanding as of december 31 , 2003 , for the next five years are as follows: ._| | | ( in thousands ) |
|---:|-----:|:-------------------|
| 0 | 2004 | $ 503215 |
| 1 | 2005 | $ 462420 |
| 2 | 2006 | $ 75896 |
| 3 | 2007 | $ 624539 |
| 4 | 2008 | $ 941625 |_in november 2000 , entergy's non-utility nuclear business purchased the fitzpatrick and indian point 3 power plants in a seller-financed transaction .
entergy issued notes to nypa with seven annual installments of approximately $ 108 million commencing one year from the date of the closing , and eight annual installments of $ 20 million commencing eight years from the date of the closing .
these notes do not have a stated interest rate , but have an implicit interest rate of 4.8% ( 4.8 % ) .
in accordance with the purchase agreement with nypa , the purchase of indian point 2 resulted in entergy's non-utility nuclear business becoming liable to nypa for an additional $ 10 million per year for 10 years , beginning in september 2003 .
this liability was recorded upon the purchase of indian point 2 in september 2001 , and is included in the note payable to nypa balance above .
in july 2003 , a payment of $ 102 million was made prior to maturity on the note payable to nypa .
under a provision in a letter of credit supporting these notes , if certain of the domestic utility companies or system energy were to default on other indebtedness , entergy could be required to post collateral to support the letter of credit .
covenants in the entergy corporation notes require it to maintain a consolidated debt ratio of 65% ( 65 % ) or less of its total capitalization .
if entergy's debt ratio exceeds this limit , or if entergy or certain of the domestic utility companies default on other indebtedness or are in bankruptcy or insolvency proceedings , an acceleration of the notes' maturity dates may occur. .
| 2,003
| 84
|
ETR
|
Entergy
|
Utilities
|
Electric Utilities
|
New Orleans, Louisiana
|
1957-03-04
| 65,984
|
1913
| null | null |
finqa40
|
what is the growth rate in operating profit for space systems in 2011?
|
3.2%
|
divide(subtract(1063, 1030), 1030)
|
2011 compared to 2010 mst 2019s net sales for 2011 decreased $ 311 million , or 4% ( 4 % ) , compared to 2010 .
the decrease was attributable to decreased volume of approximately $ 390 million for certain ship and aviation system programs ( primarily maritime patrol aircraft and ptds ) and approximately $ 75 million for training and logistics solutions programs .
partially offsetting these decreases was higher sales of about $ 165 million from production on the lcs program .
mst 2019s operating profit for 2011 decreased $ 68 million , or 10% ( 10 % ) , compared to 2010 .
the decrease was attributable to decreased operating profit of approximately $ 55 million as a result of increased reserves for contract cost matters on various ship and aviation system programs ( including the terminated presidential helicopter program ) and approximately $ 40 million due to lower volume and increased reserves on training and logistics solutions .
partially offsetting these decreases was higher operating profit of approximately $ 30 million in 2011 primarily due to the recognition of reserves on certain undersea systems programs in 2010 .
adjustments not related to volume , including net profit rate adjustments described above , were approximately $ 55 million lower in 2011 compared to 2010 .
backlog backlog increased in 2012 compared to 2011 mainly due to increased orders on ship and aviation system programs ( primarily mh-60 and lcs ) , partially offset decreased orders and higher sales volume on integrated warfare systems and sensors programs ( primarily aegis ) .
backlog decreased slightly in 2011 compared to 2010 primarily due to higher sales volume on various integrated warfare systems and sensors programs .
trends we expect mst 2019s net sales to decline in 2013 in the low single digit percentage range as compared to 2012 due to the completion of ptds deliveries in 2012 and expected lower volume on training services programs .
operating profit and margin are expected to increase slightly from 2012 levels primarily due to anticipated improved contract performance .
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 is also responsible for various classified systems and services in support of vital national security systems .
space systems 2019 major programs include the space-based infrared system ( sbirs ) , advanced extremely high frequency ( aehf ) system , mobile user objective system ( muos ) , global positioning satellite ( gps ) iii system , geostationary operational environmental satellite r-series ( goes-r ) , trident ii d5 fleet ballistic missile , and orion .
operating results for our space systems business segment include our equity interests in united launch alliance ( ula ) , which provides expendable launch services for the u.s .
government , united space alliance ( usa ) , which provided processing activities for the space shuttle program and is winding down following the completion of the last space shuttle mission in 2011 , and a joint venture that manages the u.k . 2019s atomic weapons establishment program .
space systems 2019 operating results included the following ( in millions ) : .
|
2012 compared to 2011 space systems 2019 net sales for 2012 increased $ 186 million , or 2% ( 2 % ) , compared to 2011 .
the increase was attributable to higher net sales of approximately $ 150 million due to increased commercial satellite deliveries ( two commercial satellites delivered in 2012 compared to one during 2011 ) ; about $ 125 million from the orion program due to higher volume and an increase in risk retirements ; and approximately $ 70 million from increased volume on various strategic and defensive missile programs .
partially offsetting the increases were lower net sales of approximately $ 105 million from certain government satellite programs ( primarily sbirs and muos ) as a result of decreased volume and a decline in risk retirements ; and about $ 55 million from the nasa external tank program , which ended in connection with the completion of the space shuttle program in 2011. .
|
| | | 2012 | 2011 | 2010 |
|---:|:--------------------|:-----------------|:-----------------|:-----------------|
| 0 | net sales | $ 8347 | $ 8161 | $ 8268 |
| 1 | operating profit | 1083 | 1063 | 1030 |
| 2 | operating margins | 13.0% ( 13.0 % ) | 13.0% ( 13.0 % ) | 12.5% ( 12.5 % ) |
| 3 | backlog at year-end | 18100 | 16000 | 17800 |
|
2011 compared to 2010 mst 2019s net sales for 2011 decreased $ 311 million , or 4% ( 4 % ) , compared to 2010 .
the decrease was attributable to decreased volume of approximately $ 390 million for certain ship and aviation system programs ( primarily maritime patrol aircraft and ptds ) and approximately $ 75 million for training and logistics solutions programs .
partially offsetting these decreases was higher sales of about $ 165 million from production on the lcs program .
mst 2019s operating profit for 2011 decreased $ 68 million , or 10% ( 10 % ) , compared to 2010 .
the decrease was attributable to decreased operating profit of approximately $ 55 million as a result of increased reserves for contract cost matters on various ship and aviation system programs ( including the terminated presidential helicopter program ) and approximately $ 40 million due to lower volume and increased reserves on training and logistics solutions .
partially offsetting these decreases was higher operating profit of approximately $ 30 million in 2011 primarily due to the recognition of reserves on certain undersea systems programs in 2010 .
adjustments not related to volume , including net profit rate adjustments described above , were approximately $ 55 million lower in 2011 compared to 2010 .
backlog backlog increased in 2012 compared to 2011 mainly due to increased orders on ship and aviation system programs ( primarily mh-60 and lcs ) , partially offset decreased orders and higher sales volume on integrated warfare systems and sensors programs ( primarily aegis ) .
backlog decreased slightly in 2011 compared to 2010 primarily due to higher sales volume on various integrated warfare systems and sensors programs .
trends we expect mst 2019s net sales to decline in 2013 in the low single digit percentage range as compared to 2012 due to the completion of ptds deliveries in 2012 and expected lower volume on training services programs .
operating profit and margin are expected to increase slightly from 2012 levels primarily due to anticipated improved contract performance .
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 is also responsible for various classified systems and services in support of vital national security systems .
space systems 2019 major programs include the space-based infrared system ( sbirs ) , advanced extremely high frequency ( aehf ) system , mobile user objective system ( muos ) , global positioning satellite ( gps ) iii system , geostationary operational environmental satellite r-series ( goes-r ) , trident ii d5 fleet ballistic missile , and orion .
operating results for our space systems business segment include our equity interests in united launch alliance ( ula ) , which provides expendable launch services for the u.s .
government , united space alliance ( usa ) , which provided processing activities for the space shuttle program and is winding down following the completion of the last space shuttle mission in 2011 , and a joint venture that manages the u.k . 2019s atomic weapons establishment program .
space systems 2019 operating results included the following ( in millions ) : ._| | | 2012 | 2011 | 2010 |
|---:|:--------------------|:-----------------|:-----------------|:-----------------|
| 0 | net sales | $ 8347 | $ 8161 | $ 8268 |
| 1 | operating profit | 1083 | 1063 | 1030 |
| 2 | operating margins | 13.0% ( 13.0 % ) | 13.0% ( 13.0 % ) | 12.5% ( 12.5 % ) |
| 3 | backlog at year-end | 18100 | 16000 | 17800 |_2012 compared to 2011 space systems 2019 net sales for 2012 increased $ 186 million , or 2% ( 2 % ) , compared to 2011 .
the increase was attributable to higher net sales of approximately $ 150 million due to increased commercial satellite deliveries ( two commercial satellites delivered in 2012 compared to one during 2011 ) ; about $ 125 million from the orion program due to higher volume and an increase in risk retirements ; and approximately $ 70 million from increased volume on various strategic and defensive missile programs .
partially offsetting the increases were lower net sales of approximately $ 105 million from certain government satellite programs ( primarily sbirs and muos ) as a result of decreased volume and a decline in risk retirements ; and about $ 55 million from the nasa external tank program , which ended in connection with the completion of the space shuttle program in 2011. .
| 2,012
| 47
|
LMT
|
Lockheed Martin
|
Industrials
|
Aerospace & Defense
|
Bethesda, Maryland
|
1957-03-04
| 936,468
|
1995
|
what is the growth rate in operating profit for space systems in 2011?
|
3.2%
|
divide(subtract(1063, 1030), 1030)
|
2011 compared to 2010 mst 2019s net sales for 2011 decreased $ 311 million , or 4% ( 4 % ) , compared to 2010 .
the decrease was attributable to decreased volume of approximately $ 390 million for certain ship and aviation system programs ( primarily maritime patrol aircraft and ptds ) and approximately $ 75 million for training and logistics solutions programs .
partially offsetting these decreases was higher sales of about $ 165 million from production on the lcs program .
mst 2019s operating profit for 2011 decreased $ 68 million , or 10% ( 10 % ) , compared to 2010 .
the decrease was attributable to decreased operating profit of approximately $ 55 million as a result of increased reserves for contract cost matters on various ship and aviation system programs ( including the terminated presidential helicopter program ) and approximately $ 40 million due to lower volume and increased reserves on training and logistics solutions .
partially offsetting these decreases was higher operating profit of approximately $ 30 million in 2011 primarily due to the recognition of reserves on certain undersea systems programs in 2010 .
adjustments not related to volume , including net profit rate adjustments described above , were approximately $ 55 million lower in 2011 compared to 2010 .
backlog backlog increased in 2012 compared to 2011 mainly due to increased orders on ship and aviation system programs ( primarily mh-60 and lcs ) , partially offset decreased orders and higher sales volume on integrated warfare systems and sensors programs ( primarily aegis ) .
backlog decreased slightly in 2011 compared to 2010 primarily due to higher sales volume on various integrated warfare systems and sensors programs .
trends we expect mst 2019s net sales to decline in 2013 in the low single digit percentage range as compared to 2012 due to the completion of ptds deliveries in 2012 and expected lower volume on training services programs .
operating profit and margin are expected to increase slightly from 2012 levels primarily due to anticipated improved contract performance .
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 is also responsible for various classified systems and services in support of vital national security systems .
space systems 2019 major programs include the space-based infrared system ( sbirs ) , advanced extremely high frequency ( aehf ) system , mobile user objective system ( muos ) , global positioning satellite ( gps ) iii system , geostationary operational environmental satellite r-series ( goes-r ) , trident ii d5 fleet ballistic missile , and orion .
operating results for our space systems business segment include our equity interests in united launch alliance ( ula ) , which provides expendable launch services for the u.s .
government , united space alliance ( usa ) , which provided processing activities for the space shuttle program and is winding down following the completion of the last space shuttle mission in 2011 , and a joint venture that manages the u.k . 2019s atomic weapons establishment program .
space systems 2019 operating results included the following ( in millions ) : .
|
2012 compared to 2011 space systems 2019 net sales for 2012 increased $ 186 million , or 2% ( 2 % ) , compared to 2011 .
the increase was attributable to higher net sales of approximately $ 150 million due to increased commercial satellite deliveries ( two commercial satellites delivered in 2012 compared to one during 2011 ) ; about $ 125 million from the orion program due to higher volume and an increase in risk retirements ; and approximately $ 70 million from increased volume on various strategic and defensive missile programs .
partially offsetting the increases were lower net sales of approximately $ 105 million from certain government satellite programs ( primarily sbirs and muos ) as a result of decreased volume and a decline in risk retirements ; and about $ 55 million from the nasa external tank program , which ended in connection with the completion of the space shuttle program in 2011. .
|
| | | 2012 | 2011 | 2010 |
|---:|:--------------------|:-----------------|:-----------------|:-----------------|
| 0 | net sales | $ 8347 | $ 8161 | $ 8268 |
| 1 | operating profit | 1083 | 1063 | 1030 |
| 2 | operating margins | 13.0% ( 13.0 % ) | 13.0% ( 13.0 % ) | 12.5% ( 12.5 % ) |
| 3 | backlog at year-end | 18100 | 16000 | 17800 |
|
2011 compared to 2010 mst 2019s net sales for 2011 decreased $ 311 million , or 4% ( 4 % ) , compared to 2010 .
the decrease was attributable to decreased volume of approximately $ 390 million for certain ship and aviation system programs ( primarily maritime patrol aircraft and ptds ) and approximately $ 75 million for training and logistics solutions programs .
partially offsetting these decreases was higher sales of about $ 165 million from production on the lcs program .
mst 2019s operating profit for 2011 decreased $ 68 million , or 10% ( 10 % ) , compared to 2010 .
the decrease was attributable to decreased operating profit of approximately $ 55 million as a result of increased reserves for contract cost matters on various ship and aviation system programs ( including the terminated presidential helicopter program ) and approximately $ 40 million due to lower volume and increased reserves on training and logistics solutions .
partially offsetting these decreases was higher operating profit of approximately $ 30 million in 2011 primarily due to the recognition of reserves on certain undersea systems programs in 2010 .
adjustments not related to volume , including net profit rate adjustments described above , were approximately $ 55 million lower in 2011 compared to 2010 .
backlog backlog increased in 2012 compared to 2011 mainly due to increased orders on ship and aviation system programs ( primarily mh-60 and lcs ) , partially offset decreased orders and higher sales volume on integrated warfare systems and sensors programs ( primarily aegis ) .
backlog decreased slightly in 2011 compared to 2010 primarily due to higher sales volume on various integrated warfare systems and sensors programs .
trends we expect mst 2019s net sales to decline in 2013 in the low single digit percentage range as compared to 2012 due to the completion of ptds deliveries in 2012 and expected lower volume on training services programs .
operating profit and margin are expected to increase slightly from 2012 levels primarily due to anticipated improved contract performance .
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 is also responsible for various classified systems and services in support of vital national security systems .
space systems 2019 major programs include the space-based infrared system ( sbirs ) , advanced extremely high frequency ( aehf ) system , mobile user objective system ( muos ) , global positioning satellite ( gps ) iii system , geostationary operational environmental satellite r-series ( goes-r ) , trident ii d5 fleet ballistic missile , and orion .
operating results for our space systems business segment include our equity interests in united launch alliance ( ula ) , which provides expendable launch services for the u.s .
government , united space alliance ( usa ) , which provided processing activities for the space shuttle program and is winding down following the completion of the last space shuttle mission in 2011 , and a joint venture that manages the u.k . 2019s atomic weapons establishment program .
space systems 2019 operating results included the following ( in millions ) : ._| | | 2012 | 2011 | 2010 |
|---:|:--------------------|:-----------------|:-----------------|:-----------------|
| 0 | net sales | $ 8347 | $ 8161 | $ 8268 |
| 1 | operating profit | 1083 | 1063 | 1030 |
| 2 | operating margins | 13.0% ( 13.0 % ) | 13.0% ( 13.0 % ) | 12.5% ( 12.5 % ) |
| 3 | backlog at year-end | 18100 | 16000 | 17800 |_2012 compared to 2011 space systems 2019 net sales for 2012 increased $ 186 million , or 2% ( 2 % ) , compared to 2011 .
the increase was attributable to higher net sales of approximately $ 150 million due to increased commercial satellite deliveries ( two commercial satellites delivered in 2012 compared to one during 2011 ) ; about $ 125 million from the orion program due to higher volume and an increase in risk retirements ; and approximately $ 70 million from increased volume on various strategic and defensive missile programs .
partially offsetting the increases were lower net sales of approximately $ 105 million from certain government satellite programs ( primarily sbirs and muos ) as a result of decreased volume and a decline in risk retirements ; and about $ 55 million from the nasa external tank program , which ended in connection with the completion of the space shuttle program in 2011. .
| 2,012
| 47
|
LMT
|
Lockheed Martin
|
Industrials
|
Aerospace & Defense
|
Bethesda, Maryland
|
1957-03-04
| 936,468
|
1995
| null | null |
finqa41
|
what was the percentage growth in the operating profit as reported from 2017 to 2018
|
1.4%
|
divide(subtract(1211, 1194), 1194)
|
divestiture of our arrow and moores businesses , and an unfavorable sales mix of international plumbing products , which , in aggregate , decreased sales by two percent .
net sales for 2016 were positively affected by increased sales volume of plumbing products , paints and other coating products and builders' hardware .
net sales for 2016 were also positively affected by favorable sales mix of cabinets and windows , and net selling price increases of north american windows and north american and international plumbing products .
net sales for 2016 were negatively affected by lower sales volume of cabinets and lower net selling prices of paints and other coating products .
our gross profit margins were 32.2 percent , 34.2 percent and 33.4 percent in 2018 , 2017 and 2016 , respectively .
the 2018 gross profit margin was negatively impacted by an increase in commodity costs , the recognition of the inventory step up adjustment established as a part of the the acquisition of kichler , an increase in other expenses ( such as logistics costs and salaries ) and unfavorable sales mix .
these negative impacts were partially offset by an increase in net selling prices , the benefits associated with cost savings initiatives , and increased sales volume .
the 2017 gross profit margin was positively impacted by increased sales volume , a more favorable relationship between net selling prices and commodity costs , and cost savings initiatives .
selling , general and administrative expenses as a percent of sales were 17.7 percent in 2018 compared with 18.6 percent in 2017 and 18.7 percent in 2016 .
the decrease in selling , general and administrative expenses , as a percentage of sales , was driven by leverage of fixed expenses , due primarily to increased sales volume , and improved cost control .
the following table reconciles reported operating profit to operating profit , as adjusted to exclude certain items , dollars in millions: .
|
operating profit margin in 2018 was negatively affected by an increase in commodity costs , the recognition of the inventory step up adjustment established as a part of the the acquisition of kichler and an increase in other expenses ( such as logistics costs , salaries and erp costs ) .
these negative impacts were partially offset by increased net selling prices , benefits associated with cost savings initiatives and increased sales volume .
operating profit margin in 2017 was positively impacted by increased sales volume , cost savings initiatives , and a more favorable relationship between net selling prices and commodity costs .
operating profit margin in 2017 was negatively impacted by an increase in strategic growth investments and certain other expenses , including stock-based compensation , health insurance costs , trade show costs and increased head count .
due to the recently-announced increase in tariffs on imported materials from china , and assuming tariffs rise to 25 percent in 2019 , we could be exposed to approximately $ 150 million of potential annual direct cost increases .
we will work to mitigate the impact of these tariffs through a combination of price increases , supplier negotiations , supply chain repositioning and other internal productivity measures .
other income ( expense ) , net other , net , for 2018 included $ 14 million of net periodic pension and post-retirement benefit cost and $ 8 million of realized foreign currency losses .
these expenses were partially offset by $ 3 million of earnings related to equity method investments and $ 1 million related to distributions from private equity funds .
other , net , for 2017 included $ 26 million related to periodic pension and post-retirement benefit costs , $ 13 million net loss related to the divestitures of moores and arrow and $ 2 million related to the impairment of a private equity fund , partially offset by $ 3 million related to distributions from private equity funds and $ 1 million of earnings related to equity method investments. .
|
| | | 2018 | 2017 | 2016 |
|---:|:-------------------------------------|:-----------------|:-----------------|:-----------------|
| 0 | operating profit as reported | $ 1211 | $ 1194 | $ 1087 |
| 1 | rationalization charges | 14 | 4 | 22 |
| 2 | kichler inventory step up adjustment | 40 | 2014 | 2014 |
| 3 | operating profit as adjusted | $ 1265 | $ 1198 | $ 1109 |
| 4 | operating profit margins as reported | 14.5% ( 14.5 % ) | 15.6% ( 15.6 % ) | 14.8% ( 14.8 % ) |
| 5 | operating profit margins as adjusted | 15.1% ( 15.1 % ) | 15.7% ( 15.7 % ) | 15.1% ( 15.1 % ) |
|
divestiture of our arrow and moores businesses , and an unfavorable sales mix of international plumbing products , which , in aggregate , decreased sales by two percent .
net sales for 2016 were positively affected by increased sales volume of plumbing products , paints and other coating products and builders' hardware .
net sales for 2016 were also positively affected by favorable sales mix of cabinets and windows , and net selling price increases of north american windows and north american and international plumbing products .
net sales for 2016 were negatively affected by lower sales volume of cabinets and lower net selling prices of paints and other coating products .
our gross profit margins were 32.2 percent , 34.2 percent and 33.4 percent in 2018 , 2017 and 2016 , respectively .
the 2018 gross profit margin was negatively impacted by an increase in commodity costs , the recognition of the inventory step up adjustment established as a part of the the acquisition of kichler , an increase in other expenses ( such as logistics costs and salaries ) and unfavorable sales mix .
these negative impacts were partially offset by an increase in net selling prices , the benefits associated with cost savings initiatives , and increased sales volume .
the 2017 gross profit margin was positively impacted by increased sales volume , a more favorable relationship between net selling prices and commodity costs , and cost savings initiatives .
selling , general and administrative expenses as a percent of sales were 17.7 percent in 2018 compared with 18.6 percent in 2017 and 18.7 percent in 2016 .
the decrease in selling , general and administrative expenses , as a percentage of sales , was driven by leverage of fixed expenses , due primarily to increased sales volume , and improved cost control .
the following table reconciles reported operating profit to operating profit , as adjusted to exclude certain items , dollars in millions: ._| | | 2018 | 2017 | 2016 |
|---:|:-------------------------------------|:-----------------|:-----------------|:-----------------|
| 0 | operating profit as reported | $ 1211 | $ 1194 | $ 1087 |
| 1 | rationalization charges | 14 | 4 | 22 |
| 2 | kichler inventory step up adjustment | 40 | 2014 | 2014 |
| 3 | operating profit as adjusted | $ 1265 | $ 1198 | $ 1109 |
| 4 | operating profit margins as reported | 14.5% ( 14.5 % ) | 15.6% ( 15.6 % ) | 14.8% ( 14.8 % ) |
| 5 | operating profit margins as adjusted | 15.1% ( 15.1 % ) | 15.7% ( 15.7 % ) | 15.1% ( 15.1 % ) |_operating profit margin in 2018 was negatively affected by an increase in commodity costs , the recognition of the inventory step up adjustment established as a part of the the acquisition of kichler and an increase in other expenses ( such as logistics costs , salaries and erp costs ) .
these negative impacts were partially offset by increased net selling prices , benefits associated with cost savings initiatives and increased sales volume .
operating profit margin in 2017 was positively impacted by increased sales volume , cost savings initiatives , and a more favorable relationship between net selling prices and commodity costs .
operating profit margin in 2017 was negatively impacted by an increase in strategic growth investments and certain other expenses , including stock-based compensation , health insurance costs , trade show costs and increased head count .
due to the recently-announced increase in tariffs on imported materials from china , and assuming tariffs rise to 25 percent in 2019 , we could be exposed to approximately $ 150 million of potential annual direct cost increases .
we will work to mitigate the impact of these tariffs through a combination of price increases , supplier negotiations , supply chain repositioning and other internal productivity measures .
other income ( expense ) , net other , net , for 2018 included $ 14 million of net periodic pension and post-retirement benefit cost and $ 8 million of realized foreign currency losses .
these expenses were partially offset by $ 3 million of earnings related to equity method investments and $ 1 million related to distributions from private equity funds .
other , net , for 2017 included $ 26 million related to periodic pension and post-retirement benefit costs , $ 13 million net loss related to the divestitures of moores and arrow and $ 2 million related to the impairment of a private equity fund , partially offset by $ 3 million related to distributions from private equity funds and $ 1 million of earnings related to equity method investments. .
| 2,018
| 35
|
MAS
|
Masco
|
Industrials
|
Building Products
|
Livonia, Michigan
|
1981-06-30
| 62,996
|
1929
|
what was the percentage growth in the operating profit as reported from 2017 to 2018
|
1.4%
|
divide(subtract(1211, 1194), 1194)
|
divestiture of our arrow and moores businesses , and an unfavorable sales mix of international plumbing products , which , in aggregate , decreased sales by two percent .
net sales for 2016 were positively affected by increased sales volume of plumbing products , paints and other coating products and builders' hardware .
net sales for 2016 were also positively affected by favorable sales mix of cabinets and windows , and net selling price increases of north american windows and north american and international plumbing products .
net sales for 2016 were negatively affected by lower sales volume of cabinets and lower net selling prices of paints and other coating products .
our gross profit margins were 32.2 percent , 34.2 percent and 33.4 percent in 2018 , 2017 and 2016 , respectively .
the 2018 gross profit margin was negatively impacted by an increase in commodity costs , the recognition of the inventory step up adjustment established as a part of the the acquisition of kichler , an increase in other expenses ( such as logistics costs and salaries ) and unfavorable sales mix .
these negative impacts were partially offset by an increase in net selling prices , the benefits associated with cost savings initiatives , and increased sales volume .
the 2017 gross profit margin was positively impacted by increased sales volume , a more favorable relationship between net selling prices and commodity costs , and cost savings initiatives .
selling , general and administrative expenses as a percent of sales were 17.7 percent in 2018 compared with 18.6 percent in 2017 and 18.7 percent in 2016 .
the decrease in selling , general and administrative expenses , as a percentage of sales , was driven by leverage of fixed expenses , due primarily to increased sales volume , and improved cost control .
the following table reconciles reported operating profit to operating profit , as adjusted to exclude certain items , dollars in millions: .
|
operating profit margin in 2018 was negatively affected by an increase in commodity costs , the recognition of the inventory step up adjustment established as a part of the the acquisition of kichler and an increase in other expenses ( such as logistics costs , salaries and erp costs ) .
these negative impacts were partially offset by increased net selling prices , benefits associated with cost savings initiatives and increased sales volume .
operating profit margin in 2017 was positively impacted by increased sales volume , cost savings initiatives , and a more favorable relationship between net selling prices and commodity costs .
operating profit margin in 2017 was negatively impacted by an increase in strategic growth investments and certain other expenses , including stock-based compensation , health insurance costs , trade show costs and increased head count .
due to the recently-announced increase in tariffs on imported materials from china , and assuming tariffs rise to 25 percent in 2019 , we could be exposed to approximately $ 150 million of potential annual direct cost increases .
we will work to mitigate the impact of these tariffs through a combination of price increases , supplier negotiations , supply chain repositioning and other internal productivity measures .
other income ( expense ) , net other , net , for 2018 included $ 14 million of net periodic pension and post-retirement benefit cost and $ 8 million of realized foreign currency losses .
these expenses were partially offset by $ 3 million of earnings related to equity method investments and $ 1 million related to distributions from private equity funds .
other , net , for 2017 included $ 26 million related to periodic pension and post-retirement benefit costs , $ 13 million net loss related to the divestitures of moores and arrow and $ 2 million related to the impairment of a private equity fund , partially offset by $ 3 million related to distributions from private equity funds and $ 1 million of earnings related to equity method investments. .
|
| | | 2018 | 2017 | 2016 |
|---:|:-------------------------------------|:-----------------|:-----------------|:-----------------|
| 0 | operating profit as reported | $ 1211 | $ 1194 | $ 1087 |
| 1 | rationalization charges | 14 | 4 | 22 |
| 2 | kichler inventory step up adjustment | 40 | 2014 | 2014 |
| 3 | operating profit as adjusted | $ 1265 | $ 1198 | $ 1109 |
| 4 | operating profit margins as reported | 14.5% ( 14.5 % ) | 15.6% ( 15.6 % ) | 14.8% ( 14.8 % ) |
| 5 | operating profit margins as adjusted | 15.1% ( 15.1 % ) | 15.7% ( 15.7 % ) | 15.1% ( 15.1 % ) |
|
divestiture of our arrow and moores businesses , and an unfavorable sales mix of international plumbing products , which , in aggregate , decreased sales by two percent .
net sales for 2016 were positively affected by increased sales volume of plumbing products , paints and other coating products and builders' hardware .
net sales for 2016 were also positively affected by favorable sales mix of cabinets and windows , and net selling price increases of north american windows and north american and international plumbing products .
net sales for 2016 were negatively affected by lower sales volume of cabinets and lower net selling prices of paints and other coating products .
our gross profit margins were 32.2 percent , 34.2 percent and 33.4 percent in 2018 , 2017 and 2016 , respectively .
the 2018 gross profit margin was negatively impacted by an increase in commodity costs , the recognition of the inventory step up adjustment established as a part of the the acquisition of kichler , an increase in other expenses ( such as logistics costs and salaries ) and unfavorable sales mix .
these negative impacts were partially offset by an increase in net selling prices , the benefits associated with cost savings initiatives , and increased sales volume .
the 2017 gross profit margin was positively impacted by increased sales volume , a more favorable relationship between net selling prices and commodity costs , and cost savings initiatives .
selling , general and administrative expenses as a percent of sales were 17.7 percent in 2018 compared with 18.6 percent in 2017 and 18.7 percent in 2016 .
the decrease in selling , general and administrative expenses , as a percentage of sales , was driven by leverage of fixed expenses , due primarily to increased sales volume , and improved cost control .
the following table reconciles reported operating profit to operating profit , as adjusted to exclude certain items , dollars in millions: ._| | | 2018 | 2017 | 2016 |
|---:|:-------------------------------------|:-----------------|:-----------------|:-----------------|
| 0 | operating profit as reported | $ 1211 | $ 1194 | $ 1087 |
| 1 | rationalization charges | 14 | 4 | 22 |
| 2 | kichler inventory step up adjustment | 40 | 2014 | 2014 |
| 3 | operating profit as adjusted | $ 1265 | $ 1198 | $ 1109 |
| 4 | operating profit margins as reported | 14.5% ( 14.5 % ) | 15.6% ( 15.6 % ) | 14.8% ( 14.8 % ) |
| 5 | operating profit margins as adjusted | 15.1% ( 15.1 % ) | 15.7% ( 15.7 % ) | 15.1% ( 15.1 % ) |_operating profit margin in 2018 was negatively affected by an increase in commodity costs , the recognition of the inventory step up adjustment established as a part of the the acquisition of kichler and an increase in other expenses ( such as logistics costs , salaries and erp costs ) .
these negative impacts were partially offset by increased net selling prices , benefits associated with cost savings initiatives and increased sales volume .
operating profit margin in 2017 was positively impacted by increased sales volume , cost savings initiatives , and a more favorable relationship between net selling prices and commodity costs .
operating profit margin in 2017 was negatively impacted by an increase in strategic growth investments and certain other expenses , including stock-based compensation , health insurance costs , trade show costs and increased head count .
due to the recently-announced increase in tariffs on imported materials from china , and assuming tariffs rise to 25 percent in 2019 , we could be exposed to approximately $ 150 million of potential annual direct cost increases .
we will work to mitigate the impact of these tariffs through a combination of price increases , supplier negotiations , supply chain repositioning and other internal productivity measures .
other income ( expense ) , net other , net , for 2018 included $ 14 million of net periodic pension and post-retirement benefit cost and $ 8 million of realized foreign currency losses .
these expenses were partially offset by $ 3 million of earnings related to equity method investments and $ 1 million related to distributions from private equity funds .
other , net , for 2017 included $ 26 million related to periodic pension and post-retirement benefit costs , $ 13 million net loss related to the divestitures of moores and arrow and $ 2 million related to the impairment of a private equity fund , partially offset by $ 3 million related to distributions from private equity funds and $ 1 million of earnings related to equity method investments. .
| 2,018
| 35
|
MAS
|
Masco
|
Industrials
|
Building Products
|
Livonia, Michigan
|
1981-06-30
| 62,996
|
1929
| null | null |
finqa42
|
what was the change in the percentage of sales to restaurants from 2018 to 2019?
|
0%
|
subtract(62%, 62%)
|
sysco corporation a0- a0form a010-k 3 part a0i item a01 a0business we estimate that our sales by type of customer during the past three fiscal years were as follows: .
|
( 1 ) other includes cafeterias that are not stand-alone restaurants , bakeries , caterers , churches , civic and fraternal organizations , vending distributors , other distributors and international exports .
none of these types of customers , as a group , exceeded 5% ( 5 % ) of total sales in any of the years for which information is presented .
sources of supply we purchase from thousands of suppliers , both domestic and international , none of which individually accounts for more than 10% ( 10 % ) of our purchases .
these suppliers consist generally of large corporations selling brand name and private label merchandise , as well as independent regional brand and private label processors and packers .
we also provide specialty and seasonal products from small to mid-sized producers to meet a growing demand for locally sourced products .
our locally sourced products , including produce , meats , cheese and other products , help differentiate our customers 2019 offerings , satisfy demands for new products , and support local communities .
purchasing is generally carried out through both centrally developed purchasing programs , domestically and internationally , and direct purchasing programs established by our various operating companies .
we administer a consolidated product procurement program designed to develop , obtain and ensure consistent quality food and non-food products .
the program covers the purchasing and marketing of branded merchandise , as well as products from a number of national brand suppliers , encompassing substantially all product lines .
some of our products are purchased internationally within global procurement centers in order to build strategic relationships with international suppliers and to optimize our supply chain network .
sysco 2019s operating companies purchase product from the suppliers participating in these consolidated programs and from other suppliers , although sysco brand products are only available to the operating companies through these consolidated programs .
we also focus on increasing profitability by lowering operating costs and by lowering aggregate inventory levels , which reduces future facility expansion needs at our broadline operating companies , while providing greater value to our suppliers and customers .
working capital practices our growth is funded through a combination of cash flow from operations , commercial paper issuances and long-term borrowings .
see the discussion in item 7 201cmanagement 2019s discussion and analysis of financial condition and results of operations - liquidity and capital resources 201d regarding our liquidity , financial position and sources and uses of funds .
we extend credit terms to our customers that can vary from cash on delivery to 30 days or more based on our assessment of each customer 2019s credit worthiness .
we monitor each customer 2019s account and will suspend shipments if necessary .
a majority of our sales orders are filled within 24 hours of when customer orders are placed .
we generally maintain inventory on hand to be able to meet customer demand .
the level of inventory on hand will vary by product depending on shelf-life , supplier order fulfillment lead times and customer demand .
we also make purchases of additional volumes of certain products based on supply or pricing opportunities .
we take advantage of suppliers 2019 cash discounts where appropriate and otherwise generally receive payment terms from our suppliers ranging from weekly to 45 days or more .
corporate headquarters and shared services center our corporate staff makes available a number of services to our operating companies and our shared services center performs support services for employees , suppliers and customers .
members of these groups possess experience and expertise in , among other areas , customer and vendor contract administration , accounting and finance , treasury , legal , information technology , payroll and employee benefits , risk management and insurance , sales and marketing , merchandising , inbound logistics , human resources , strategy and tax compliance services .
the corporate office also makes available supply chain expertise , such as in warehousing and distribution services , which provide assistance in operational best practices , including space utilization , energy conservation , fleet management and work flow. .
|
| | type of customer | 2019 | 2018 | 2017 |
|---:|:----------------------|:---------------|:---------------|:---------------|
| 0 | restaurants | 62% ( 62 % ) | 62% ( 62 % ) | 61% ( 61 % ) |
| 1 | education government | 9 | 8 | 9 |
| 2 | travel leisure retail | 9 | 8 | 9 |
| 3 | healthcare | 8 | 9 | 9 |
| 4 | other ( 1 ) | 12 | 13 | 12 |
| 5 | totals | 100% ( 100 % ) | 100% ( 100 % ) | 100% ( 100 % ) |
|
sysco corporation a0- a0form a010-k 3 part a0i item a01 a0business we estimate that our sales by type of customer during the past three fiscal years were as follows: ._| | type of customer | 2019 | 2018 | 2017 |
|---:|:----------------------|:---------------|:---------------|:---------------|
| 0 | restaurants | 62% ( 62 % ) | 62% ( 62 % ) | 61% ( 61 % ) |
| 1 | education government | 9 | 8 | 9 |
| 2 | travel leisure retail | 9 | 8 | 9 |
| 3 | healthcare | 8 | 9 | 9 |
| 4 | other ( 1 ) | 12 | 13 | 12 |
| 5 | totals | 100% ( 100 % ) | 100% ( 100 % ) | 100% ( 100 % ) |_( 1 ) other includes cafeterias that are not stand-alone restaurants , bakeries , caterers , churches , civic and fraternal organizations , vending distributors , other distributors and international exports .
none of these types of customers , as a group , exceeded 5% ( 5 % ) of total sales in any of the years for which information is presented .
sources of supply we purchase from thousands of suppliers , both domestic and international , none of which individually accounts for more than 10% ( 10 % ) of our purchases .
these suppliers consist generally of large corporations selling brand name and private label merchandise , as well as independent regional brand and private label processors and packers .
we also provide specialty and seasonal products from small to mid-sized producers to meet a growing demand for locally sourced products .
our locally sourced products , including produce , meats , cheese and other products , help differentiate our customers 2019 offerings , satisfy demands for new products , and support local communities .
purchasing is generally carried out through both centrally developed purchasing programs , domestically and internationally , and direct purchasing programs established by our various operating companies .
we administer a consolidated product procurement program designed to develop , obtain and ensure consistent quality food and non-food products .
the program covers the purchasing and marketing of branded merchandise , as well as products from a number of national brand suppliers , encompassing substantially all product lines .
some of our products are purchased internationally within global procurement centers in order to build strategic relationships with international suppliers and to optimize our supply chain network .
sysco 2019s operating companies purchase product from the suppliers participating in these consolidated programs and from other suppliers , although sysco brand products are only available to the operating companies through these consolidated programs .
we also focus on increasing profitability by lowering operating costs and by lowering aggregate inventory levels , which reduces future facility expansion needs at our broadline operating companies , while providing greater value to our suppliers and customers .
working capital practices our growth is funded through a combination of cash flow from operations , commercial paper issuances and long-term borrowings .
see the discussion in item 7 201cmanagement 2019s discussion and analysis of financial condition and results of operations - liquidity and capital resources 201d regarding our liquidity , financial position and sources and uses of funds .
we extend credit terms to our customers that can vary from cash on delivery to 30 days or more based on our assessment of each customer 2019s credit worthiness .
we monitor each customer 2019s account and will suspend shipments if necessary .
a majority of our sales orders are filled within 24 hours of when customer orders are placed .
we generally maintain inventory on hand to be able to meet customer demand .
the level of inventory on hand will vary by product depending on shelf-life , supplier order fulfillment lead times and customer demand .
we also make purchases of additional volumes of certain products based on supply or pricing opportunities .
we take advantage of suppliers 2019 cash discounts where appropriate and otherwise generally receive payment terms from our suppliers ranging from weekly to 45 days or more .
corporate headquarters and shared services center our corporate staff makes available a number of services to our operating companies and our shared services center performs support services for employees , suppliers and customers .
members of these groups possess experience and expertise in , among other areas , customer and vendor contract administration , accounting and finance , treasury , legal , information technology , payroll and employee benefits , risk management and insurance , sales and marketing , merchandising , inbound logistics , human resources , strategy and tax compliance services .
the corporate office also makes available supply chain expertise , such as in warehousing and distribution services , which provide assistance in operational best practices , including space utilization , energy conservation , fleet management and work flow. .
| 2,019
| 9
|
SYY
|
Sysco
|
Consumer Staples
|
Food Distributors
|
Houston, Texas
|
1986-12-31
| 96,021
|
1969
|
what was the change in the percentage of sales to restaurants from 2018 to 2019?
|
0%
|
subtract(62%, 62%)
|
sysco corporation a0- a0form a010-k 3 part a0i item a01 a0business we estimate that our sales by type of customer during the past three fiscal years were as follows: .
|
( 1 ) other includes cafeterias that are not stand-alone restaurants , bakeries , caterers , churches , civic and fraternal organizations , vending distributors , other distributors and international exports .
none of these types of customers , as a group , exceeded 5% ( 5 % ) of total sales in any of the years for which information is presented .
sources of supply we purchase from thousands of suppliers , both domestic and international , none of which individually accounts for more than 10% ( 10 % ) of our purchases .
these suppliers consist generally of large corporations selling brand name and private label merchandise , as well as independent regional brand and private label processors and packers .
we also provide specialty and seasonal products from small to mid-sized producers to meet a growing demand for locally sourced products .
our locally sourced products , including produce , meats , cheese and other products , help differentiate our customers 2019 offerings , satisfy demands for new products , and support local communities .
purchasing is generally carried out through both centrally developed purchasing programs , domestically and internationally , and direct purchasing programs established by our various operating companies .
we administer a consolidated product procurement program designed to develop , obtain and ensure consistent quality food and non-food products .
the program covers the purchasing and marketing of branded merchandise , as well as products from a number of national brand suppliers , encompassing substantially all product lines .
some of our products are purchased internationally within global procurement centers in order to build strategic relationships with international suppliers and to optimize our supply chain network .
sysco 2019s operating companies purchase product from the suppliers participating in these consolidated programs and from other suppliers , although sysco brand products are only available to the operating companies through these consolidated programs .
we also focus on increasing profitability by lowering operating costs and by lowering aggregate inventory levels , which reduces future facility expansion needs at our broadline operating companies , while providing greater value to our suppliers and customers .
working capital practices our growth is funded through a combination of cash flow from operations , commercial paper issuances and long-term borrowings .
see the discussion in item 7 201cmanagement 2019s discussion and analysis of financial condition and results of operations - liquidity and capital resources 201d regarding our liquidity , financial position and sources and uses of funds .
we extend credit terms to our customers that can vary from cash on delivery to 30 days or more based on our assessment of each customer 2019s credit worthiness .
we monitor each customer 2019s account and will suspend shipments if necessary .
a majority of our sales orders are filled within 24 hours of when customer orders are placed .
we generally maintain inventory on hand to be able to meet customer demand .
the level of inventory on hand will vary by product depending on shelf-life , supplier order fulfillment lead times and customer demand .
we also make purchases of additional volumes of certain products based on supply or pricing opportunities .
we take advantage of suppliers 2019 cash discounts where appropriate and otherwise generally receive payment terms from our suppliers ranging from weekly to 45 days or more .
corporate headquarters and shared services center our corporate staff makes available a number of services to our operating companies and our shared services center performs support services for employees , suppliers and customers .
members of these groups possess experience and expertise in , among other areas , customer and vendor contract administration , accounting and finance , treasury , legal , information technology , payroll and employee benefits , risk management and insurance , sales and marketing , merchandising , inbound logistics , human resources , strategy and tax compliance services .
the corporate office also makes available supply chain expertise , such as in warehousing and distribution services , which provide assistance in operational best practices , including space utilization , energy conservation , fleet management and work flow. .
|
| | type of customer | 2019 | 2018 | 2017 |
|---:|:----------------------|:---------------|:---------------|:---------------|
| 0 | restaurants | 62% ( 62 % ) | 62% ( 62 % ) | 61% ( 61 % ) |
| 1 | education government | 9 | 8 | 9 |
| 2 | travel leisure retail | 9 | 8 | 9 |
| 3 | healthcare | 8 | 9 | 9 |
| 4 | other ( 1 ) | 12 | 13 | 12 |
| 5 | totals | 100% ( 100 % ) | 100% ( 100 % ) | 100% ( 100 % ) |
|
sysco corporation a0- a0form a010-k 3 part a0i item a01 a0business we estimate that our sales by type of customer during the past three fiscal years were as follows: ._| | type of customer | 2019 | 2018 | 2017 |
|---:|:----------------------|:---------------|:---------------|:---------------|
| 0 | restaurants | 62% ( 62 % ) | 62% ( 62 % ) | 61% ( 61 % ) |
| 1 | education government | 9 | 8 | 9 |
| 2 | travel leisure retail | 9 | 8 | 9 |
| 3 | healthcare | 8 | 9 | 9 |
| 4 | other ( 1 ) | 12 | 13 | 12 |
| 5 | totals | 100% ( 100 % ) | 100% ( 100 % ) | 100% ( 100 % ) |_( 1 ) other includes cafeterias that are not stand-alone restaurants , bakeries , caterers , churches , civic and fraternal organizations , vending distributors , other distributors and international exports .
none of these types of customers , as a group , exceeded 5% ( 5 % ) of total sales in any of the years for which information is presented .
sources of supply we purchase from thousands of suppliers , both domestic and international , none of which individually accounts for more than 10% ( 10 % ) of our purchases .
these suppliers consist generally of large corporations selling brand name and private label merchandise , as well as independent regional brand and private label processors and packers .
we also provide specialty and seasonal products from small to mid-sized producers to meet a growing demand for locally sourced products .
our locally sourced products , including produce , meats , cheese and other products , help differentiate our customers 2019 offerings , satisfy demands for new products , and support local communities .
purchasing is generally carried out through both centrally developed purchasing programs , domestically and internationally , and direct purchasing programs established by our various operating companies .
we administer a consolidated product procurement program designed to develop , obtain and ensure consistent quality food and non-food products .
the program covers the purchasing and marketing of branded merchandise , as well as products from a number of national brand suppliers , encompassing substantially all product lines .
some of our products are purchased internationally within global procurement centers in order to build strategic relationships with international suppliers and to optimize our supply chain network .
sysco 2019s operating companies purchase product from the suppliers participating in these consolidated programs and from other suppliers , although sysco brand products are only available to the operating companies through these consolidated programs .
we also focus on increasing profitability by lowering operating costs and by lowering aggregate inventory levels , which reduces future facility expansion needs at our broadline operating companies , while providing greater value to our suppliers and customers .
working capital practices our growth is funded through a combination of cash flow from operations , commercial paper issuances and long-term borrowings .
see the discussion in item 7 201cmanagement 2019s discussion and analysis of financial condition and results of operations - liquidity and capital resources 201d regarding our liquidity , financial position and sources and uses of funds .
we extend credit terms to our customers that can vary from cash on delivery to 30 days or more based on our assessment of each customer 2019s credit worthiness .
we monitor each customer 2019s account and will suspend shipments if necessary .
a majority of our sales orders are filled within 24 hours of when customer orders are placed .
we generally maintain inventory on hand to be able to meet customer demand .
the level of inventory on hand will vary by product depending on shelf-life , supplier order fulfillment lead times and customer demand .
we also make purchases of additional volumes of certain products based on supply or pricing opportunities .
we take advantage of suppliers 2019 cash discounts where appropriate and otherwise generally receive payment terms from our suppliers ranging from weekly to 45 days or more .
corporate headquarters and shared services center our corporate staff makes available a number of services to our operating companies and our shared services center performs support services for employees , suppliers and customers .
members of these groups possess experience and expertise in , among other areas , customer and vendor contract administration , accounting and finance , treasury , legal , information technology , payroll and employee benefits , risk management and insurance , sales and marketing , merchandising , inbound logistics , human resources , strategy and tax compliance services .
the corporate office also makes available supply chain expertise , such as in warehousing and distribution services , which provide assistance in operational best practices , including space utilization , energy conservation , fleet management and work flow. .
| 2,019
| 9
|
SYY
|
Sysco
|
Consumer Staples
|
Food Distributors
|
Houston, Texas
|
1986-12-31
| 96,021
|
1969
| null | null |
finqa43
|
what are the annual other sinking fund requirements as a percentage of annual long-term debt maturities ( excluding lease obligations ) and annual cash sinking fund requirements for debt outstanding in 2007?
|
6.35%
|
divide(multiply(30.2, const_1000), 475288)
|
entergy corporation notes to consolidated financial statements ( d ) the bonds are subject to mandatory tender for purchase from the holders at 100% ( 100 % ) of the principal amount outstanding on october 1 , 2003 and will then be remarketed .
( e ) on june 1 , 2002 , entergy louisiana remarketed $ 55 million st .
charles parish pollution control revenue refunding bonds due 2030 , resetting the interest rate to 4.9% ( 4.9 % ) through may 2005 .
( f ) the bonds are subject to mandatory tender for purchase from the holders at 100% ( 100 % ) of the principal amount outstanding on june 1 , 2005 and will then be remarketed .
( g ) the fair value excludes lease obligations , long-term doe obligations , and other long-term debt and includes debt due within one year .
it is determined using bid prices reported by dealer markets and by nationally recognized investment banking firms .
the annual long-term debt maturities ( excluding lease obligations ) and annual cash sinking fund requirements for debt outstanding as of december 31 , 2002 , for the next five years are as follows ( in thousands ) : .
|
not included are other sinking fund requirements of approximately $ 30.2 million annually , which may be satisfied by cash or by certification of property additions at the rate of 167% ( 167 % ) of such requirements .
in december 2002 , when the damhead creek project was sold , the buyer of the project assumed all obligations under the damhead creek credit facilities and the damhead creek interest rate swap agreements .
in november 2000 , entergy's non-utility nuclear business purchased the fitzpatrick and indian point 3 power plants in a seller-financed transaction .
entergy issued notes to nypa with seven annual installments of approximately $ 108 million commencing one year from the date of the closing , and eight annual installments of $ 20 million commencing eight years from the date of the closing .
these notes do not have a stated interest rate , but have an implicit interest rate of 4.8% ( 4.8 % ) .
in accordance with the purchase agreement with nypa , the purchase of indian point 2 resulted in entergy's non-utility nuclear business becoming liable to nypa for an additional $ 10 million per year for 10 years , beginning in september 2003 .
this liability was recorded upon the purchase of indian point 2 in september 2001 .
covenants in the entergy corporation 7.75% ( 7.75 % ) notes require it to maintain a consolidated debt ratio of 65% ( 65 % ) or less of its total capitalization .
if entergy's debt ratio exceeds this limit , or if entergy or certain of the domestic utility companies default on other credit facilities or are in bankruptcy or insolvency proceedings , an acceleration of the facility's maturity may occur .
in january 2003 , entergy paid in full , at maturity , the outstanding debt relating to the top of iowa wind project .
capital funds agreement pursuant to an agreement with certain creditors , entergy corporation has agreed to supply system energy with sufficient capital to : fffd maintain system energy's equity capital at a minimum of 35% ( 35 % ) of its total capitalization ( excluding short-term debt ) ; fffd permit the continued commercial operation of grand gulf 1 ; fffd pay in full all system energy indebtedness for borrowed money when due ; and fffd enable system energy to make payments on specific system energy debt , under supplements to the agreement assigning system energy's rights in the agreement as security for the specific debt. .
|
| | 2003 | $ 1150786 |
|---:|-------:|:------------|
| 0 | 2004 | $ 925005 |
| 1 | 2005 | $ 540372 |
| 2 | 2006 | $ 139952 |
| 3 | 2007 | $ 475288 |
|
entergy corporation notes to consolidated financial statements ( d ) the bonds are subject to mandatory tender for purchase from the holders at 100% ( 100 % ) of the principal amount outstanding on october 1 , 2003 and will then be remarketed .
( e ) on june 1 , 2002 , entergy louisiana remarketed $ 55 million st .
charles parish pollution control revenue refunding bonds due 2030 , resetting the interest rate to 4.9% ( 4.9 % ) through may 2005 .
( f ) the bonds are subject to mandatory tender for purchase from the holders at 100% ( 100 % ) of the principal amount outstanding on june 1 , 2005 and will then be remarketed .
( g ) the fair value excludes lease obligations , long-term doe obligations , and other long-term debt and includes debt due within one year .
it is determined using bid prices reported by dealer markets and by nationally recognized investment banking firms .
the annual long-term debt maturities ( excluding lease obligations ) and annual cash sinking fund requirements for debt outstanding as of december 31 , 2002 , for the next five years are as follows ( in thousands ) : ._| | 2003 | $ 1150786 |
|---:|-------:|:------------|
| 0 | 2004 | $ 925005 |
| 1 | 2005 | $ 540372 |
| 2 | 2006 | $ 139952 |
| 3 | 2007 | $ 475288 |_not included are other sinking fund requirements of approximately $ 30.2 million annually , which may be satisfied by cash or by certification of property additions at the rate of 167% ( 167 % ) of such requirements .
in december 2002 , when the damhead creek project was sold , the buyer of the project assumed all obligations under the damhead creek credit facilities and the damhead creek interest rate swap agreements .
in november 2000 , entergy's non-utility nuclear business purchased the fitzpatrick and indian point 3 power plants in a seller-financed transaction .
entergy issued notes to nypa with seven annual installments of approximately $ 108 million commencing one year from the date of the closing , and eight annual installments of $ 20 million commencing eight years from the date of the closing .
these notes do not have a stated interest rate , but have an implicit interest rate of 4.8% ( 4.8 % ) .
in accordance with the purchase agreement with nypa , the purchase of indian point 2 resulted in entergy's non-utility nuclear business becoming liable to nypa for an additional $ 10 million per year for 10 years , beginning in september 2003 .
this liability was recorded upon the purchase of indian point 2 in september 2001 .
covenants in the entergy corporation 7.75% ( 7.75 % ) notes require it to maintain a consolidated debt ratio of 65% ( 65 % ) or less of its total capitalization .
if entergy's debt ratio exceeds this limit , or if entergy or certain of the domestic utility companies default on other credit facilities or are in bankruptcy or insolvency proceedings , an acceleration of the facility's maturity may occur .
in january 2003 , entergy paid in full , at maturity , the outstanding debt relating to the top of iowa wind project .
capital funds agreement pursuant to an agreement with certain creditors , entergy corporation has agreed to supply system energy with sufficient capital to : fffd maintain system energy's equity capital at a minimum of 35% ( 35 % ) of its total capitalization ( excluding short-term debt ) ; fffd permit the continued commercial operation of grand gulf 1 ; fffd pay in full all system energy indebtedness for borrowed money when due ; and fffd enable system energy to make payments on specific system energy debt , under supplements to the agreement assigning system energy's rights in the agreement as security for the specific debt. .
| 2,002
| 86
|
ETR
|
Entergy
|
Utilities
|
Electric Utilities
|
New Orleans, Louisiana
|
1957-03-04
| 65,984
|
1913
|
what are the annual other sinking fund requirements as a percentage of annual long-term debt maturities ( excluding lease obligations ) and annual cash sinking fund requirements for debt outstanding in 2007?
|
6.35%
|
divide(multiply(30.2, const_1000), 475288)
|
entergy corporation notes to consolidated financial statements ( d ) the bonds are subject to mandatory tender for purchase from the holders at 100% ( 100 % ) of the principal amount outstanding on october 1 , 2003 and will then be remarketed .
( e ) on june 1 , 2002 , entergy louisiana remarketed $ 55 million st .
charles parish pollution control revenue refunding bonds due 2030 , resetting the interest rate to 4.9% ( 4.9 % ) through may 2005 .
( f ) the bonds are subject to mandatory tender for purchase from the holders at 100% ( 100 % ) of the principal amount outstanding on june 1 , 2005 and will then be remarketed .
( g ) the fair value excludes lease obligations , long-term doe obligations , and other long-term debt and includes debt due within one year .
it is determined using bid prices reported by dealer markets and by nationally recognized investment banking firms .
the annual long-term debt maturities ( excluding lease obligations ) and annual cash sinking fund requirements for debt outstanding as of december 31 , 2002 , for the next five years are as follows ( in thousands ) : .
|
not included are other sinking fund requirements of approximately $ 30.2 million annually , which may be satisfied by cash or by certification of property additions at the rate of 167% ( 167 % ) of such requirements .
in december 2002 , when the damhead creek project was sold , the buyer of the project assumed all obligations under the damhead creek credit facilities and the damhead creek interest rate swap agreements .
in november 2000 , entergy's non-utility nuclear business purchased the fitzpatrick and indian point 3 power plants in a seller-financed transaction .
entergy issued notes to nypa with seven annual installments of approximately $ 108 million commencing one year from the date of the closing , and eight annual installments of $ 20 million commencing eight years from the date of the closing .
these notes do not have a stated interest rate , but have an implicit interest rate of 4.8% ( 4.8 % ) .
in accordance with the purchase agreement with nypa , the purchase of indian point 2 resulted in entergy's non-utility nuclear business becoming liable to nypa for an additional $ 10 million per year for 10 years , beginning in september 2003 .
this liability was recorded upon the purchase of indian point 2 in september 2001 .
covenants in the entergy corporation 7.75% ( 7.75 % ) notes require it to maintain a consolidated debt ratio of 65% ( 65 % ) or less of its total capitalization .
if entergy's debt ratio exceeds this limit , or if entergy or certain of the domestic utility companies default on other credit facilities or are in bankruptcy or insolvency proceedings , an acceleration of the facility's maturity may occur .
in january 2003 , entergy paid in full , at maturity , the outstanding debt relating to the top of iowa wind project .
capital funds agreement pursuant to an agreement with certain creditors , entergy corporation has agreed to supply system energy with sufficient capital to : fffd maintain system energy's equity capital at a minimum of 35% ( 35 % ) of its total capitalization ( excluding short-term debt ) ; fffd permit the continued commercial operation of grand gulf 1 ; fffd pay in full all system energy indebtedness for borrowed money when due ; and fffd enable system energy to make payments on specific system energy debt , under supplements to the agreement assigning system energy's rights in the agreement as security for the specific debt. .
|
| | 2003 | $ 1150786 |
|---:|-------:|:------------|
| 0 | 2004 | $ 925005 |
| 1 | 2005 | $ 540372 |
| 2 | 2006 | $ 139952 |
| 3 | 2007 | $ 475288 |
|
entergy corporation notes to consolidated financial statements ( d ) the bonds are subject to mandatory tender for purchase from the holders at 100% ( 100 % ) of the principal amount outstanding on october 1 , 2003 and will then be remarketed .
( e ) on june 1 , 2002 , entergy louisiana remarketed $ 55 million st .
charles parish pollution control revenue refunding bonds due 2030 , resetting the interest rate to 4.9% ( 4.9 % ) through may 2005 .
( f ) the bonds are subject to mandatory tender for purchase from the holders at 100% ( 100 % ) of the principal amount outstanding on june 1 , 2005 and will then be remarketed .
( g ) the fair value excludes lease obligations , long-term doe obligations , and other long-term debt and includes debt due within one year .
it is determined using bid prices reported by dealer markets and by nationally recognized investment banking firms .
the annual long-term debt maturities ( excluding lease obligations ) and annual cash sinking fund requirements for debt outstanding as of december 31 , 2002 , for the next five years are as follows ( in thousands ) : ._| | 2003 | $ 1150786 |
|---:|-------:|:------------|
| 0 | 2004 | $ 925005 |
| 1 | 2005 | $ 540372 |
| 2 | 2006 | $ 139952 |
| 3 | 2007 | $ 475288 |_not included are other sinking fund requirements of approximately $ 30.2 million annually , which may be satisfied by cash or by certification of property additions at the rate of 167% ( 167 % ) of such requirements .
in december 2002 , when the damhead creek project was sold , the buyer of the project assumed all obligations under the damhead creek credit facilities and the damhead creek interest rate swap agreements .
in november 2000 , entergy's non-utility nuclear business purchased the fitzpatrick and indian point 3 power plants in a seller-financed transaction .
entergy issued notes to nypa with seven annual installments of approximately $ 108 million commencing one year from the date of the closing , and eight annual installments of $ 20 million commencing eight years from the date of the closing .
these notes do not have a stated interest rate , but have an implicit interest rate of 4.8% ( 4.8 % ) .
in accordance with the purchase agreement with nypa , the purchase of indian point 2 resulted in entergy's non-utility nuclear business becoming liable to nypa for an additional $ 10 million per year for 10 years , beginning in september 2003 .
this liability was recorded upon the purchase of indian point 2 in september 2001 .
covenants in the entergy corporation 7.75% ( 7.75 % ) notes require it to maintain a consolidated debt ratio of 65% ( 65 % ) or less of its total capitalization .
if entergy's debt ratio exceeds this limit , or if entergy or certain of the domestic utility companies default on other credit facilities or are in bankruptcy or insolvency proceedings , an acceleration of the facility's maturity may occur .
in january 2003 , entergy paid in full , at maturity , the outstanding debt relating to the top of iowa wind project .
capital funds agreement pursuant to an agreement with certain creditors , entergy corporation has agreed to supply system energy with sufficient capital to : fffd maintain system energy's equity capital at a minimum of 35% ( 35 % ) of its total capitalization ( excluding short-term debt ) ; fffd permit the continued commercial operation of grand gulf 1 ; fffd pay in full all system energy indebtedness for borrowed money when due ; and fffd enable system energy to make payments on specific system energy debt , under supplements to the agreement assigning system energy's rights in the agreement as security for the specific debt. .
| 2,002
| 86
|
ETR
|
Entergy
|
Utilities
|
Electric Utilities
|
New Orleans, Louisiana
|
1957-03-04
| 65,984
|
1913
| null | null |
finqa44
|
what percent increase did inventories receive between 2002 and 2003?
|
104.85%
|
subtract(divide(527.7, 257.6), const_1)
|
z i m m e r h o l d i n g s , i n c .
a n d s u b s i d i a r i e s 2 0 0 3 f o r m 1 0 - k notes to consolidated financial statements ( continued ) the unaudited pro forma results for 2003 include events or changes in circumstances indicate that the carrying $ 90.4 million of expense related to centerpulse hip and knee value of an asset may not be recoverable .
an impairment loss litigation , $ 54.4 million of cash income tax benefits as a result would be recognized when estimated future cash flows of centerpulse electing to carry back its 2002 u.s .
federal net relating to the asset are less than its carrying amount .
operating loss for 5 years versus 10 years , which resulted in depreciation of instruments is recognized as selling , general more losses being carried forward to future years and less and administrative expense , consistent with the classification tax credits going unutilized due to the shorter carry back of instrument cost in periods prior to january 1 , 2003 .
period and an $ 8.0 million gain on sale of orquest inc. , an prior to january 1 , 2003 , undeployed instruments were investment previously held by centerpulse .
the unaudited carried as a prepaid expense at cost , net of allowances for pro forma results are not necessarily indicative either of the obsolescence ( $ 54.8 million , net , at december 31 , 2002 ) , and results of operations that actually would have resulted had recognized in selling , general and administrative expense in the exchange offers been in effect at the beginning of the the year in which the instruments were placed into service .
respective years or of future results .
the new method of accounting for instruments was adopted to recognize the cost of these important assets of the transfx company 2019s business within the consolidated balance sheet on june 25 , 2003 , the company acquired the transfx and meaningfully allocate the cost of these assets over the external fixation system product line from immedica , inc .
periods benefited , typically five years .
for approximately $ 14.8 million cash , which has been the effect of the change during the year ended allocated primarily to goodwill and technology based december 31 , 2003 was to increase earnings before intangible assets .
the company has sold the transfx cumulative effect of change in accounting principle by product line since early 2001 under a distribution agreement $ 26.8 million ( $ 17.8 million net of tax ) , or $ 0.08 per diluted with immedica .
share .
the cumulative effect adjustment of $ 55.1 million ( net of income taxes of $ 34.0 million ) to retroactively apply the implex corp .
new capitalization method as if applied in years prior to 2003 on march 2 , 2004 , the company entered into an is included in earnings during the year ended december 31 , amended and restated merger agreement relating to the 2003 .
the pro forma amounts shown on the consolidated acquisition of implex corp .
( 2018 2018implex 2019 2019 ) , a privately held statement of earnings have been adjusted for the effect of orthopaedics company based in new jersey , for cash .
each the retroactive application on depreciation and related share of implex stock will be converted into the right to income taxes .
receive cash having an aggregate value of approximately $ 108.0 million at closing and additional cash earn-out 5 .
inventories payments that are contingent on the growth of implex inventories at december 31 , 2003 and 2002 , consist of product sales through 2006 .
the net value transferred at the following ( in millions ) : closing will be approximately $ 89 million , which includes .
|
made by zimmer to implex pursuant to their existing alliance raw materials and work in progress 90.8 50.9 arrangement , escrow and other items .
the acquisition will be inventory step-up 52.6 2013 accounted for under the purchase method of accounting .
inventories , net $ 527.7 $ 257.6 reserves for obsolete and slow-moving inventory at4 .
change in accounting principle december 31 , 2003 and 2002 were $ 47.4 million and instruments are hand held devices used by orthopaedic $ 45.5 million , respectively .
provisions charged to expense surgeons during total joint replacement and other surgical were $ 11.6 million , $ 6.0 million and $ 11.9 million for the procedures .
effective january 1 , 2003 , instruments are years ended december 31 , 2003 , 2002 and 2001 , respectively .
recognized as long-lived assets and are included in property , amounts written off against the reserve were $ 11.7 million , plant and equipment .
undeployed instruments are carried at $ 7.1 million and $ 8.5 million for the years ended cost , net of allowances for obsolescence .
instruments in the december 31 , 2003 , 2002 and 2001 , respectively .
field are carried at cost less accumulated depreciation .
following the acquisition of centerpulse , the company depreciation is computed using the straight-line method established a common approach for estimating excess based on average estimated useful lives , determined inventory and instruments .
this change in estimate resulted principally in reference to associated product life cycles , in a charge to earnings of $ 3.0 million after tax in the fourth primarily five years .
in accordance with sfas no .
144 , the quarter .
company reviews instruments for impairment whenever .
|
| | | 2003 | 2002 |
|---:|:-----------------------------------|:--------|:--------|
| 0 | finished goods | $ 384.3 | $ 206.7 |
| 1 | raw materials and work in progress | 90.8 | 50.9 |
| 2 | inventory step-up | 52.6 | 2013 |
| 3 | inventories net | $ 527.7 | $ 257.6 |
|
z i m m e r h o l d i n g s , i n c .
a n d s u b s i d i a r i e s 2 0 0 3 f o r m 1 0 - k notes to consolidated financial statements ( continued ) the unaudited pro forma results for 2003 include events or changes in circumstances indicate that the carrying $ 90.4 million of expense related to centerpulse hip and knee value of an asset may not be recoverable .
an impairment loss litigation , $ 54.4 million of cash income tax benefits as a result would be recognized when estimated future cash flows of centerpulse electing to carry back its 2002 u.s .
federal net relating to the asset are less than its carrying amount .
operating loss for 5 years versus 10 years , which resulted in depreciation of instruments is recognized as selling , general more losses being carried forward to future years and less and administrative expense , consistent with the classification tax credits going unutilized due to the shorter carry back of instrument cost in periods prior to january 1 , 2003 .
period and an $ 8.0 million gain on sale of orquest inc. , an prior to january 1 , 2003 , undeployed instruments were investment previously held by centerpulse .
the unaudited carried as a prepaid expense at cost , net of allowances for pro forma results are not necessarily indicative either of the obsolescence ( $ 54.8 million , net , at december 31 , 2002 ) , and results of operations that actually would have resulted had recognized in selling , general and administrative expense in the exchange offers been in effect at the beginning of the the year in which the instruments were placed into service .
respective years or of future results .
the new method of accounting for instruments was adopted to recognize the cost of these important assets of the transfx company 2019s business within the consolidated balance sheet on june 25 , 2003 , the company acquired the transfx and meaningfully allocate the cost of these assets over the external fixation system product line from immedica , inc .
periods benefited , typically five years .
for approximately $ 14.8 million cash , which has been the effect of the change during the year ended allocated primarily to goodwill and technology based december 31 , 2003 was to increase earnings before intangible assets .
the company has sold the transfx cumulative effect of change in accounting principle by product line since early 2001 under a distribution agreement $ 26.8 million ( $ 17.8 million net of tax ) , or $ 0.08 per diluted with immedica .
share .
the cumulative effect adjustment of $ 55.1 million ( net of income taxes of $ 34.0 million ) to retroactively apply the implex corp .
new capitalization method as if applied in years prior to 2003 on march 2 , 2004 , the company entered into an is included in earnings during the year ended december 31 , amended and restated merger agreement relating to the 2003 .
the pro forma amounts shown on the consolidated acquisition of implex corp .
( 2018 2018implex 2019 2019 ) , a privately held statement of earnings have been adjusted for the effect of orthopaedics company based in new jersey , for cash .
each the retroactive application on depreciation and related share of implex stock will be converted into the right to income taxes .
receive cash having an aggregate value of approximately $ 108.0 million at closing and additional cash earn-out 5 .
inventories payments that are contingent on the growth of implex inventories at december 31 , 2003 and 2002 , consist of product sales through 2006 .
the net value transferred at the following ( in millions ) : closing will be approximately $ 89 million , which includes ._| | | 2003 | 2002 |
|---:|:-----------------------------------|:--------|:--------|
| 0 | finished goods | $ 384.3 | $ 206.7 |
| 1 | raw materials and work in progress | 90.8 | 50.9 |
| 2 | inventory step-up | 52.6 | 2013 |
| 3 | inventories net | $ 527.7 | $ 257.6 |_made by zimmer to implex pursuant to their existing alliance raw materials and work in progress 90.8 50.9 arrangement , escrow and other items .
the acquisition will be inventory step-up 52.6 2013 accounted for under the purchase method of accounting .
inventories , net $ 527.7 $ 257.6 reserves for obsolete and slow-moving inventory at4 .
change in accounting principle december 31 , 2003 and 2002 were $ 47.4 million and instruments are hand held devices used by orthopaedic $ 45.5 million , respectively .
provisions charged to expense surgeons during total joint replacement and other surgical were $ 11.6 million , $ 6.0 million and $ 11.9 million for the procedures .
effective january 1 , 2003 , instruments are years ended december 31 , 2003 , 2002 and 2001 , respectively .
recognized as long-lived assets and are included in property , amounts written off against the reserve were $ 11.7 million , plant and equipment .
undeployed instruments are carried at $ 7.1 million and $ 8.5 million for the years ended cost , net of allowances for obsolescence .
instruments in the december 31 , 2003 , 2002 and 2001 , respectively .
field are carried at cost less accumulated depreciation .
following the acquisition of centerpulse , the company depreciation is computed using the straight-line method established a common approach for estimating excess based on average estimated useful lives , determined inventory and instruments .
this change in estimate resulted principally in reference to associated product life cycles , in a charge to earnings of $ 3.0 million after tax in the fourth primarily five years .
in accordance with sfas no .
144 , the quarter .
company reviews instruments for impairment whenever .
| 2,003
| 58
|
ZBH
|
Zimmer Biomet
|
Health Care
|
Health Care Equipment
|
Warsaw, Indiana
|
2001-08-07
| 1,136,869
|
1927
|
what percent increase did inventories receive between 2002 and 2003?
|
104.85%
|
subtract(divide(527.7, 257.6), const_1)
|
z i m m e r h o l d i n g s , i n c .
a n d s u b s i d i a r i e s 2 0 0 3 f o r m 1 0 - k notes to consolidated financial statements ( continued ) the unaudited pro forma results for 2003 include events or changes in circumstances indicate that the carrying $ 90.4 million of expense related to centerpulse hip and knee value of an asset may not be recoverable .
an impairment loss litigation , $ 54.4 million of cash income tax benefits as a result would be recognized when estimated future cash flows of centerpulse electing to carry back its 2002 u.s .
federal net relating to the asset are less than its carrying amount .
operating loss for 5 years versus 10 years , which resulted in depreciation of instruments is recognized as selling , general more losses being carried forward to future years and less and administrative expense , consistent with the classification tax credits going unutilized due to the shorter carry back of instrument cost in periods prior to january 1 , 2003 .
period and an $ 8.0 million gain on sale of orquest inc. , an prior to january 1 , 2003 , undeployed instruments were investment previously held by centerpulse .
the unaudited carried as a prepaid expense at cost , net of allowances for pro forma results are not necessarily indicative either of the obsolescence ( $ 54.8 million , net , at december 31 , 2002 ) , and results of operations that actually would have resulted had recognized in selling , general and administrative expense in the exchange offers been in effect at the beginning of the the year in which the instruments were placed into service .
respective years or of future results .
the new method of accounting for instruments was adopted to recognize the cost of these important assets of the transfx company 2019s business within the consolidated balance sheet on june 25 , 2003 , the company acquired the transfx and meaningfully allocate the cost of these assets over the external fixation system product line from immedica , inc .
periods benefited , typically five years .
for approximately $ 14.8 million cash , which has been the effect of the change during the year ended allocated primarily to goodwill and technology based december 31 , 2003 was to increase earnings before intangible assets .
the company has sold the transfx cumulative effect of change in accounting principle by product line since early 2001 under a distribution agreement $ 26.8 million ( $ 17.8 million net of tax ) , or $ 0.08 per diluted with immedica .
share .
the cumulative effect adjustment of $ 55.1 million ( net of income taxes of $ 34.0 million ) to retroactively apply the implex corp .
new capitalization method as if applied in years prior to 2003 on march 2 , 2004 , the company entered into an is included in earnings during the year ended december 31 , amended and restated merger agreement relating to the 2003 .
the pro forma amounts shown on the consolidated acquisition of implex corp .
( 2018 2018implex 2019 2019 ) , a privately held statement of earnings have been adjusted for the effect of orthopaedics company based in new jersey , for cash .
each the retroactive application on depreciation and related share of implex stock will be converted into the right to income taxes .
receive cash having an aggregate value of approximately $ 108.0 million at closing and additional cash earn-out 5 .
inventories payments that are contingent on the growth of implex inventories at december 31 , 2003 and 2002 , consist of product sales through 2006 .
the net value transferred at the following ( in millions ) : closing will be approximately $ 89 million , which includes .
|
made by zimmer to implex pursuant to their existing alliance raw materials and work in progress 90.8 50.9 arrangement , escrow and other items .
the acquisition will be inventory step-up 52.6 2013 accounted for under the purchase method of accounting .
inventories , net $ 527.7 $ 257.6 reserves for obsolete and slow-moving inventory at4 .
change in accounting principle december 31 , 2003 and 2002 were $ 47.4 million and instruments are hand held devices used by orthopaedic $ 45.5 million , respectively .
provisions charged to expense surgeons during total joint replacement and other surgical were $ 11.6 million , $ 6.0 million and $ 11.9 million for the procedures .
effective january 1 , 2003 , instruments are years ended december 31 , 2003 , 2002 and 2001 , respectively .
recognized as long-lived assets and are included in property , amounts written off against the reserve were $ 11.7 million , plant and equipment .
undeployed instruments are carried at $ 7.1 million and $ 8.5 million for the years ended cost , net of allowances for obsolescence .
instruments in the december 31 , 2003 , 2002 and 2001 , respectively .
field are carried at cost less accumulated depreciation .
following the acquisition of centerpulse , the company depreciation is computed using the straight-line method established a common approach for estimating excess based on average estimated useful lives , determined inventory and instruments .
this change in estimate resulted principally in reference to associated product life cycles , in a charge to earnings of $ 3.0 million after tax in the fourth primarily five years .
in accordance with sfas no .
144 , the quarter .
company reviews instruments for impairment whenever .
|
| | | 2003 | 2002 |
|---:|:-----------------------------------|:--------|:--------|
| 0 | finished goods | $ 384.3 | $ 206.7 |
| 1 | raw materials and work in progress | 90.8 | 50.9 |
| 2 | inventory step-up | 52.6 | 2013 |
| 3 | inventories net | $ 527.7 | $ 257.6 |
|
z i m m e r h o l d i n g s , i n c .
a n d s u b s i d i a r i e s 2 0 0 3 f o r m 1 0 - k notes to consolidated financial statements ( continued ) the unaudited pro forma results for 2003 include events or changes in circumstances indicate that the carrying $ 90.4 million of expense related to centerpulse hip and knee value of an asset may not be recoverable .
an impairment loss litigation , $ 54.4 million of cash income tax benefits as a result would be recognized when estimated future cash flows of centerpulse electing to carry back its 2002 u.s .
federal net relating to the asset are less than its carrying amount .
operating loss for 5 years versus 10 years , which resulted in depreciation of instruments is recognized as selling , general more losses being carried forward to future years and less and administrative expense , consistent with the classification tax credits going unutilized due to the shorter carry back of instrument cost in periods prior to january 1 , 2003 .
period and an $ 8.0 million gain on sale of orquest inc. , an prior to january 1 , 2003 , undeployed instruments were investment previously held by centerpulse .
the unaudited carried as a prepaid expense at cost , net of allowances for pro forma results are not necessarily indicative either of the obsolescence ( $ 54.8 million , net , at december 31 , 2002 ) , and results of operations that actually would have resulted had recognized in selling , general and administrative expense in the exchange offers been in effect at the beginning of the the year in which the instruments were placed into service .
respective years or of future results .
the new method of accounting for instruments was adopted to recognize the cost of these important assets of the transfx company 2019s business within the consolidated balance sheet on june 25 , 2003 , the company acquired the transfx and meaningfully allocate the cost of these assets over the external fixation system product line from immedica , inc .
periods benefited , typically five years .
for approximately $ 14.8 million cash , which has been the effect of the change during the year ended allocated primarily to goodwill and technology based december 31 , 2003 was to increase earnings before intangible assets .
the company has sold the transfx cumulative effect of change in accounting principle by product line since early 2001 under a distribution agreement $ 26.8 million ( $ 17.8 million net of tax ) , or $ 0.08 per diluted with immedica .
share .
the cumulative effect adjustment of $ 55.1 million ( net of income taxes of $ 34.0 million ) to retroactively apply the implex corp .
new capitalization method as if applied in years prior to 2003 on march 2 , 2004 , the company entered into an is included in earnings during the year ended december 31 , amended and restated merger agreement relating to the 2003 .
the pro forma amounts shown on the consolidated acquisition of implex corp .
( 2018 2018implex 2019 2019 ) , a privately held statement of earnings have been adjusted for the effect of orthopaedics company based in new jersey , for cash .
each the retroactive application on depreciation and related share of implex stock will be converted into the right to income taxes .
receive cash having an aggregate value of approximately $ 108.0 million at closing and additional cash earn-out 5 .
inventories payments that are contingent on the growth of implex inventories at december 31 , 2003 and 2002 , consist of product sales through 2006 .
the net value transferred at the following ( in millions ) : closing will be approximately $ 89 million , which includes ._| | | 2003 | 2002 |
|---:|:-----------------------------------|:--------|:--------|
| 0 | finished goods | $ 384.3 | $ 206.7 |
| 1 | raw materials and work in progress | 90.8 | 50.9 |
| 2 | inventory step-up | 52.6 | 2013 |
| 3 | inventories net | $ 527.7 | $ 257.6 |_made by zimmer to implex pursuant to their existing alliance raw materials and work in progress 90.8 50.9 arrangement , escrow and other items .
the acquisition will be inventory step-up 52.6 2013 accounted for under the purchase method of accounting .
inventories , net $ 527.7 $ 257.6 reserves for obsolete and slow-moving inventory at4 .
change in accounting principle december 31 , 2003 and 2002 were $ 47.4 million and instruments are hand held devices used by orthopaedic $ 45.5 million , respectively .
provisions charged to expense surgeons during total joint replacement and other surgical were $ 11.6 million , $ 6.0 million and $ 11.9 million for the procedures .
effective january 1 , 2003 , instruments are years ended december 31 , 2003 , 2002 and 2001 , respectively .
recognized as long-lived assets and are included in property , amounts written off against the reserve were $ 11.7 million , plant and equipment .
undeployed instruments are carried at $ 7.1 million and $ 8.5 million for the years ended cost , net of allowances for obsolescence .
instruments in the december 31 , 2003 , 2002 and 2001 , respectively .
field are carried at cost less accumulated depreciation .
following the acquisition of centerpulse , the company depreciation is computed using the straight-line method established a common approach for estimating excess based on average estimated useful lives , determined inventory and instruments .
this change in estimate resulted principally in reference to associated product life cycles , in a charge to earnings of $ 3.0 million after tax in the fourth primarily five years .
in accordance with sfas no .
144 , the quarter .
company reviews instruments for impairment whenever .
| 2,003
| 58
|
ZBH
|
Zimmer Biomet
|
Health Care
|
Health Care Equipment
|
Warsaw, Indiana
|
2001-08-07
| 1,136,869
|
1927
| null | null |
finqa45
|
on february 112011 what was the market capitalization
|
22556579533.3
|
multiply(397612895, 56.73)
|
part ii item 5 .
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 2010 and 2009. .
|
on february 11 , 2011 , the closing price of our common stock was $ 56.73 per share as reported on the nyse .
as of february 11 , 2011 , we had 397612895 outstanding shares of common stock and 463 registered holders .
dividends we have not historically paid a dividend on our common stock .
payment of dividends in the future , when , as and if authorized by our board of directors , would depend upon many factors , including our earnings and financial condition , restrictions under applicable law and our current and future loan agreements , our debt service requirements , our capital expenditure requirements and other factors that our board of directors may deem relevant from time to time , including the potential determination to elect reit status .
in addition , the loan agreement for our revolving credit facility and term loan contain covenants that generally restrict our ability to pay dividends unless certain financial covenants are satisfied .
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 , 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. .
|
| | 2010 | high | low |
|---:|:---------------------------|:--------|:--------|
| 0 | quarter ended march 31 | $ 44.61 | $ 40.10 |
| 1 | quarter ended june 30 | 45.33 | 38.86 |
| 2 | quarter ended september 30 | 52.11 | 43.70 |
| 3 | quarter ended december 31 | 53.14 | 49.61 |
| 4 | 2009 | high | low |
| 5 | quarter ended march 31 | $ 32.53 | $ 25.45 |
| 6 | quarter ended june 30 | 34.52 | 27.93 |
| 7 | quarter ended september 30 | 37.71 | 29.89 |
| 8 | quarter ended december 31 | 43.84 | 35.03 |
|
part ii item 5 .
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 2010 and 2009. ._| | 2010 | high | low |
|---:|:---------------------------|:--------|:--------|
| 0 | quarter ended march 31 | $ 44.61 | $ 40.10 |
| 1 | quarter ended june 30 | 45.33 | 38.86 |
| 2 | quarter ended september 30 | 52.11 | 43.70 |
| 3 | quarter ended december 31 | 53.14 | 49.61 |
| 4 | 2009 | high | low |
| 5 | quarter ended march 31 | $ 32.53 | $ 25.45 |
| 6 | quarter ended june 30 | 34.52 | 27.93 |
| 7 | quarter ended september 30 | 37.71 | 29.89 |
| 8 | quarter ended december 31 | 43.84 | 35.03 |_on february 11 , 2011 , the closing price of our common stock was $ 56.73 per share as reported on the nyse .
as of february 11 , 2011 , we had 397612895 outstanding shares of common stock and 463 registered holders .
dividends we have not historically paid a dividend on our common stock .
payment of dividends in the future , when , as and if authorized by our board of directors , would depend upon many factors , including our earnings and financial condition , restrictions under applicable law and our current and future loan agreements , our debt service requirements , our capital expenditure requirements and other factors that our board of directors may deem relevant from time to time , including the potential determination to elect reit status .
in addition , the loan agreement for our revolving credit facility and term loan contain covenants that generally restrict our ability to pay dividends unless certain financial covenants are satisfied .
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 , 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. .
| 2,010
| 34
|
AMT
|
American Tower
|
Real Estate
|
Telecom Tower REITs
|
Boston, Massachusetts
|
2007-11-19
| 1,053,507
|
1995
|
on february 112011 what was the market capitalization
|
22556579533.3
|
multiply(397612895, 56.73)
|
part ii item 5 .
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 2010 and 2009. .
|
on february 11 , 2011 , the closing price of our common stock was $ 56.73 per share as reported on the nyse .
as of february 11 , 2011 , we had 397612895 outstanding shares of common stock and 463 registered holders .
dividends we have not historically paid a dividend on our common stock .
payment of dividends in the future , when , as and if authorized by our board of directors , would depend upon many factors , including our earnings and financial condition , restrictions under applicable law and our current and future loan agreements , our debt service requirements , our capital expenditure requirements and other factors that our board of directors may deem relevant from time to time , including the potential determination to elect reit status .
in addition , the loan agreement for our revolving credit facility and term loan contain covenants that generally restrict our ability to pay dividends unless certain financial covenants are satisfied .
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 , 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. .
|
| | 2010 | high | low |
|---:|:---------------------------|:--------|:--------|
| 0 | quarter ended march 31 | $ 44.61 | $ 40.10 |
| 1 | quarter ended june 30 | 45.33 | 38.86 |
| 2 | quarter ended september 30 | 52.11 | 43.70 |
| 3 | quarter ended december 31 | 53.14 | 49.61 |
| 4 | 2009 | high | low |
| 5 | quarter ended march 31 | $ 32.53 | $ 25.45 |
| 6 | quarter ended june 30 | 34.52 | 27.93 |
| 7 | quarter ended september 30 | 37.71 | 29.89 |
| 8 | quarter ended december 31 | 43.84 | 35.03 |
|
part ii item 5 .
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 2010 and 2009. ._| | 2010 | high | low |
|---:|:---------------------------|:--------|:--------|
| 0 | quarter ended march 31 | $ 44.61 | $ 40.10 |
| 1 | quarter ended june 30 | 45.33 | 38.86 |
| 2 | quarter ended september 30 | 52.11 | 43.70 |
| 3 | quarter ended december 31 | 53.14 | 49.61 |
| 4 | 2009 | high | low |
| 5 | quarter ended march 31 | $ 32.53 | $ 25.45 |
| 6 | quarter ended june 30 | 34.52 | 27.93 |
| 7 | quarter ended september 30 | 37.71 | 29.89 |
| 8 | quarter ended december 31 | 43.84 | 35.03 |_on february 11 , 2011 , the closing price of our common stock was $ 56.73 per share as reported on the nyse .
as of february 11 , 2011 , we had 397612895 outstanding shares of common stock and 463 registered holders .
dividends we have not historically paid a dividend on our common stock .
payment of dividends in the future , when , as and if authorized by our board of directors , would depend upon many factors , including our earnings and financial condition , restrictions under applicable law and our current and future loan agreements , our debt service requirements , our capital expenditure requirements and other factors that our board of directors may deem relevant from time to time , including the potential determination to elect reit status .
in addition , the loan agreement for our revolving credit facility and term loan contain covenants that generally restrict our ability to pay dividends unless certain financial covenants are satisfied .
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 , 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. .
| 2,010
| 34
|
AMT
|
American Tower
|
Real Estate
|
Telecom Tower REITs
|
Boston, Massachusetts
|
2007-11-19
| 1,053,507
|
1995
| null | null |
finqa46
|
what was the total of euro notes issued in 2014 , in millions of dollars approximately?
|
3098
|
add(add(1029, 1372), 697)
|
our debt issuances in 2014 were as follows : ( in millions ) type face value ( e ) interest rate issuance maturity euro notes ( a ) 20ac750 ( approximately $ 1029 ) 1.875% ( 1.875 % ) march 2014 march 2021 euro notes ( a ) 20ac1000 ( approximately $ 1372 ) 2.875% ( 2.875 % ) march 2014 march 2026 euro notes ( b ) 20ac500 ( approximately $ 697 ) 2.875% ( 2.875 % ) may 2014 may 2029 swiss franc notes ( c ) chf275 ( approximately $ 311 ) 0.750% ( 0.750 % ) may 2014 december 2019 swiss franc notes ( b ) chf250 ( approximately $ 283 ) 1.625% ( 1.625 % ) may 2014 may 2024 u.s .
dollar notes ( d ) $ 500 1.250% ( 1.250 % ) november 2014 november 2017 u.s .
dollar notes ( d ) $ 750 3.250% ( 3.250 % ) november 2014 november 2024 u.s .
dollar notes ( d ) $ 750 4.250% ( 4.250 % ) november 2014 november 2044 ( a ) interest on these notes is payable annually in arrears beginning in march 2015 .
( b ) interest on these notes is payable annually in arrears beginning in may 2015 .
( c ) interest on these notes is payable annually in arrears beginning in december 2014 .
( d ) interest on these notes is payable semiannually in arrears beginning in may 2015 .
( e ) u.s .
dollar equivalents for foreign currency notes were calculated based on exchange rates on the date of issuance .
the net proceeds from the sale of the securities listed in the table above will be used for general corporate purposes .
the weighted-average time to maturity of our long-term debt was 10.8 years at the end of 2013 and 2014 .
2022 off-balance sheet arrangements and aggregate contractual obligations we have no off-balance sheet arrangements , including special purpose entities , other than guarantees and contractual obligations discussed below .
guarantees 2013 at december 31 , 2014 , we were contingently liable for $ 1.0 billion of guarantees of our own performance , which were primarily related to excise taxes on the shipment of our products .
there is no liability in the consolidated financial statements associated with these guarantees .
at december 31 , 2014 , our third-party guarantees were insignificant. .
|
our debt issuances in 2014 were as follows : ( in millions ) type face value ( e ) interest rate issuance maturity euro notes ( a ) 20ac750 ( approximately $ 1029 ) 1.875% ( 1.875 % ) march 2014 march 2021 euro notes ( a ) 20ac1000 ( approximately $ 1372 ) 2.875% ( 2.875 % ) march 2014 march 2026 euro notes ( b ) 20ac500 ( approximately $ 697 ) 2.875% ( 2.875 % ) may 2014 may 2029 swiss franc notes ( c ) chf275 ( approximately $ 311 ) 0.750% ( 0.750 % ) may 2014 december 2019 swiss franc notes ( b ) chf250 ( approximately $ 283 ) 1.625% ( 1.625 % ) may 2014 may 2024 u.s .
dollar notes ( d ) $ 500 1.250% ( 1.250 % ) november 2014 november 2017 u.s .
dollar notes ( d ) $ 750 3.250% ( 3.250 % ) november 2014 november 2024 u.s .
dollar notes ( d ) $ 750 4.250% ( 4.250 % ) november 2014 november 2044 ( a ) interest on these notes is payable annually in arrears beginning in march 2015 .
( b ) interest on these notes is payable annually in arrears beginning in may 2015 .
( c ) interest on these notes is payable annually in arrears beginning in december 2014 .
( d ) interest on these notes is payable semiannually in arrears beginning in may 2015 .
( e ) u.s .
dollar equivalents for foreign currency notes were calculated based on exchange rates on the date of issuance .
the net proceeds from the sale of the securities listed in the table above will be used for general corporate purposes .
the weighted-average time to maturity of our long-term debt was 10.8 years at the end of 2013 and 2014 .
2022 off-balance sheet arrangements and aggregate contractual obligations we have no off-balance sheet arrangements , including special purpose entities , other than guarantees and contractual obligations discussed below .
guarantees 2013 at december 31 , 2014 , we were contingently liable for $ 1.0 billion of guarantees of our own performance , which were primarily related to excise taxes on the shipment of our products .
there is no liability in the consolidated financial statements associated with these guarantees .
at december 31 , 2014 , our third-party guarantees were insignificant. .
|
| | type | | face value ( e ) | interest rate | issuance | maturity |
|---:|:-------------------|:------|:----------------------------------|:-------------------|:--------------|:--------------|
| 0 | euro notes | ( a ) | 20ac750 ( approximately $ 1029 ) | 1.875% ( 1.875 % ) | march 2014 | march 2021 |
| 1 | euro notes | ( a ) | 20ac1000 ( approximately $ 1372 ) | 2.875% ( 2.875 % ) | march 2014 | march 2026 |
| 2 | euro notes | ( b ) | 20ac500 ( approximately $ 697 ) | 2.875% ( 2.875 % ) | may 2014 | may 2029 |
| 3 | swiss franc notes | ( c ) | chf275 ( approximately $ 311 ) | 0.750% ( 0.750 % ) | may 2014 | december 2019 |
| 4 | swiss franc notes | ( b ) | chf250 ( approximately $ 283 ) | 1.625% ( 1.625 % ) | may 2014 | may 2024 |
| 5 | u.s . dollar notes | ( d ) | $ 500 | 1.250% ( 1.250 % ) | november 2014 | november 2017 |
| 6 | u.s . dollar notes | ( d ) | $ 750 | 3.250% ( 3.250 % ) | november 2014 | november 2024 |
| 7 | u.s . dollar notes | ( d ) | $ 750 | 4.250% ( 4.250 % ) | november 2014 | november 2044 |
|
our debt issuances in 2014 were as follows : ( in millions ) type face value ( e ) interest rate issuance maturity euro notes ( a ) 20ac750 ( approximately $ 1029 ) 1.875% ( 1.875 % ) march 2014 march 2021 euro notes ( a ) 20ac1000 ( approximately $ 1372 ) 2.875% ( 2.875 % ) march 2014 march 2026 euro notes ( b ) 20ac500 ( approximately $ 697 ) 2.875% ( 2.875 % ) may 2014 may 2029 swiss franc notes ( c ) chf275 ( approximately $ 311 ) 0.750% ( 0.750 % ) may 2014 december 2019 swiss franc notes ( b ) chf250 ( approximately $ 283 ) 1.625% ( 1.625 % ) may 2014 may 2024 u.s .
dollar notes ( d ) $ 500 1.250% ( 1.250 % ) november 2014 november 2017 u.s .
dollar notes ( d ) $ 750 3.250% ( 3.250 % ) november 2014 november 2024 u.s .
dollar notes ( d ) $ 750 4.250% ( 4.250 % ) november 2014 november 2044 ( a ) interest on these notes is payable annually in arrears beginning in march 2015 .
( b ) interest on these notes is payable annually in arrears beginning in may 2015 .
( c ) interest on these notes is payable annually in arrears beginning in december 2014 .
( d ) interest on these notes is payable semiannually in arrears beginning in may 2015 .
( e ) u.s .
dollar equivalents for foreign currency notes were calculated based on exchange rates on the date of issuance .
the net proceeds from the sale of the securities listed in the table above will be used for general corporate purposes .
the weighted-average time to maturity of our long-term debt was 10.8 years at the end of 2013 and 2014 .
2022 off-balance sheet arrangements and aggregate contractual obligations we have no off-balance sheet arrangements , including special purpose entities , other than guarantees and contractual obligations discussed below .
guarantees 2013 at december 31 , 2014 , we were contingently liable for $ 1.0 billion of guarantees of our own performance , which were primarily related to excise taxes on the shipment of our products .
there is no liability in the consolidated financial statements associated with these guarantees .
at december 31 , 2014 , our third-party guarantees were insignificant. ._| | type | | face value ( e ) | interest rate | issuance | maturity |
|---:|:-------------------|:------|:----------------------------------|:-------------------|:--------------|:--------------|
| 0 | euro notes | ( a ) | 20ac750 ( approximately $ 1029 ) | 1.875% ( 1.875 % ) | march 2014 | march 2021 |
| 1 | euro notes | ( a ) | 20ac1000 ( approximately $ 1372 ) | 2.875% ( 2.875 % ) | march 2014 | march 2026 |
| 2 | euro notes | ( b ) | 20ac500 ( approximately $ 697 ) | 2.875% ( 2.875 % ) | may 2014 | may 2029 |
| 3 | swiss franc notes | ( c ) | chf275 ( approximately $ 311 ) | 0.750% ( 0.750 % ) | may 2014 | december 2019 |
| 4 | swiss franc notes | ( b ) | chf250 ( approximately $ 283 ) | 1.625% ( 1.625 % ) | may 2014 | may 2024 |
| 5 | u.s . dollar notes | ( d ) | $ 500 | 1.250% ( 1.250 % ) | november 2014 | november 2017 |
| 6 | u.s . dollar notes | ( d ) | $ 750 | 3.250% ( 3.250 % ) | november 2014 | november 2024 |
| 7 | u.s . dollar notes | ( d ) | $ 750 | 4.250% ( 4.250 % ) | november 2014 | november 2044 |_our debt issuances in 2014 were as follows : ( in millions ) type face value ( e ) interest rate issuance maturity euro notes ( a ) 20ac750 ( approximately $ 1029 ) 1.875% ( 1.875 % ) march 2014 march 2021 euro notes ( a ) 20ac1000 ( approximately $ 1372 ) 2.875% ( 2.875 % ) march 2014 march 2026 euro notes ( b ) 20ac500 ( approximately $ 697 ) 2.875% ( 2.875 % ) may 2014 may 2029 swiss franc notes ( c ) chf275 ( approximately $ 311 ) 0.750% ( 0.750 % ) may 2014 december 2019 swiss franc notes ( b ) chf250 ( approximately $ 283 ) 1.625% ( 1.625 % ) may 2014 may 2024 u.s .
dollar notes ( d ) $ 500 1.250% ( 1.250 % ) november 2014 november 2017 u.s .
dollar notes ( d ) $ 750 3.250% ( 3.250 % ) november 2014 november 2024 u.s .
dollar notes ( d ) $ 750 4.250% ( 4.250 % ) november 2014 november 2044 ( a ) interest on these notes is payable annually in arrears beginning in march 2015 .
( b ) interest on these notes is payable annually in arrears beginning in may 2015 .
( c ) interest on these notes is payable annually in arrears beginning in december 2014 .
( d ) interest on these notes is payable semiannually in arrears beginning in may 2015 .
( e ) u.s .
dollar equivalents for foreign currency notes were calculated based on exchange rates on the date of issuance .
the net proceeds from the sale of the securities listed in the table above will be used for general corporate purposes .
the weighted-average time to maturity of our long-term debt was 10.8 years at the end of 2013 and 2014 .
2022 off-balance sheet arrangements and aggregate contractual obligations we have no off-balance sheet arrangements , including special purpose entities , other than guarantees and contractual obligations discussed below .
guarantees 2013 at december 31 , 2014 , we were contingently liable for $ 1.0 billion of guarantees of our own performance , which were primarily related to excise taxes on the shipment of our products .
there is no liability in the consolidated financial statements associated with these guarantees .
at december 31 , 2014 , our third-party guarantees were insignificant. .
| 2,014
| 67
|
PM
|
Philip Morris International
|
Consumer Staples
|
Tobacco
|
New York City, New York
|
2008-03-31
| 1,413,329
|
2008 (1847)
|
what was the total of euro notes issued in 2014 , in millions of dollars approximately?
|
3098
|
add(add(1029, 1372), 697)
|
our debt issuances in 2014 were as follows : ( in millions ) type face value ( e ) interest rate issuance maturity euro notes ( a ) 20ac750 ( approximately $ 1029 ) 1.875% ( 1.875 % ) march 2014 march 2021 euro notes ( a ) 20ac1000 ( approximately $ 1372 ) 2.875% ( 2.875 % ) march 2014 march 2026 euro notes ( b ) 20ac500 ( approximately $ 697 ) 2.875% ( 2.875 % ) may 2014 may 2029 swiss franc notes ( c ) chf275 ( approximately $ 311 ) 0.750% ( 0.750 % ) may 2014 december 2019 swiss franc notes ( b ) chf250 ( approximately $ 283 ) 1.625% ( 1.625 % ) may 2014 may 2024 u.s .
dollar notes ( d ) $ 500 1.250% ( 1.250 % ) november 2014 november 2017 u.s .
dollar notes ( d ) $ 750 3.250% ( 3.250 % ) november 2014 november 2024 u.s .
dollar notes ( d ) $ 750 4.250% ( 4.250 % ) november 2014 november 2044 ( a ) interest on these notes is payable annually in arrears beginning in march 2015 .
( b ) interest on these notes is payable annually in arrears beginning in may 2015 .
( c ) interest on these notes is payable annually in arrears beginning in december 2014 .
( d ) interest on these notes is payable semiannually in arrears beginning in may 2015 .
( e ) u.s .
dollar equivalents for foreign currency notes were calculated based on exchange rates on the date of issuance .
the net proceeds from the sale of the securities listed in the table above will be used for general corporate purposes .
the weighted-average time to maturity of our long-term debt was 10.8 years at the end of 2013 and 2014 .
2022 off-balance sheet arrangements and aggregate contractual obligations we have no off-balance sheet arrangements , including special purpose entities , other than guarantees and contractual obligations discussed below .
guarantees 2013 at december 31 , 2014 , we were contingently liable for $ 1.0 billion of guarantees of our own performance , which were primarily related to excise taxes on the shipment of our products .
there is no liability in the consolidated financial statements associated with these guarantees .
at december 31 , 2014 , our third-party guarantees were insignificant. .
|
our debt issuances in 2014 were as follows : ( in millions ) type face value ( e ) interest rate issuance maturity euro notes ( a ) 20ac750 ( approximately $ 1029 ) 1.875% ( 1.875 % ) march 2014 march 2021 euro notes ( a ) 20ac1000 ( approximately $ 1372 ) 2.875% ( 2.875 % ) march 2014 march 2026 euro notes ( b ) 20ac500 ( approximately $ 697 ) 2.875% ( 2.875 % ) may 2014 may 2029 swiss franc notes ( c ) chf275 ( approximately $ 311 ) 0.750% ( 0.750 % ) may 2014 december 2019 swiss franc notes ( b ) chf250 ( approximately $ 283 ) 1.625% ( 1.625 % ) may 2014 may 2024 u.s .
dollar notes ( d ) $ 500 1.250% ( 1.250 % ) november 2014 november 2017 u.s .
dollar notes ( d ) $ 750 3.250% ( 3.250 % ) november 2014 november 2024 u.s .
dollar notes ( d ) $ 750 4.250% ( 4.250 % ) november 2014 november 2044 ( a ) interest on these notes is payable annually in arrears beginning in march 2015 .
( b ) interest on these notes is payable annually in arrears beginning in may 2015 .
( c ) interest on these notes is payable annually in arrears beginning in december 2014 .
( d ) interest on these notes is payable semiannually in arrears beginning in may 2015 .
( e ) u.s .
dollar equivalents for foreign currency notes were calculated based on exchange rates on the date of issuance .
the net proceeds from the sale of the securities listed in the table above will be used for general corporate purposes .
the weighted-average time to maturity of our long-term debt was 10.8 years at the end of 2013 and 2014 .
2022 off-balance sheet arrangements and aggregate contractual obligations we have no off-balance sheet arrangements , including special purpose entities , other than guarantees and contractual obligations discussed below .
guarantees 2013 at december 31 , 2014 , we were contingently liable for $ 1.0 billion of guarantees of our own performance , which were primarily related to excise taxes on the shipment of our products .
there is no liability in the consolidated financial statements associated with these guarantees .
at december 31 , 2014 , our third-party guarantees were insignificant. .
|
| | type | | face value ( e ) | interest rate | issuance | maturity |
|---:|:-------------------|:------|:----------------------------------|:-------------------|:--------------|:--------------|
| 0 | euro notes | ( a ) | 20ac750 ( approximately $ 1029 ) | 1.875% ( 1.875 % ) | march 2014 | march 2021 |
| 1 | euro notes | ( a ) | 20ac1000 ( approximately $ 1372 ) | 2.875% ( 2.875 % ) | march 2014 | march 2026 |
| 2 | euro notes | ( b ) | 20ac500 ( approximately $ 697 ) | 2.875% ( 2.875 % ) | may 2014 | may 2029 |
| 3 | swiss franc notes | ( c ) | chf275 ( approximately $ 311 ) | 0.750% ( 0.750 % ) | may 2014 | december 2019 |
| 4 | swiss franc notes | ( b ) | chf250 ( approximately $ 283 ) | 1.625% ( 1.625 % ) | may 2014 | may 2024 |
| 5 | u.s . dollar notes | ( d ) | $ 500 | 1.250% ( 1.250 % ) | november 2014 | november 2017 |
| 6 | u.s . dollar notes | ( d ) | $ 750 | 3.250% ( 3.250 % ) | november 2014 | november 2024 |
| 7 | u.s . dollar notes | ( d ) | $ 750 | 4.250% ( 4.250 % ) | november 2014 | november 2044 |
|
our debt issuances in 2014 were as follows : ( in millions ) type face value ( e ) interest rate issuance maturity euro notes ( a ) 20ac750 ( approximately $ 1029 ) 1.875% ( 1.875 % ) march 2014 march 2021 euro notes ( a ) 20ac1000 ( approximately $ 1372 ) 2.875% ( 2.875 % ) march 2014 march 2026 euro notes ( b ) 20ac500 ( approximately $ 697 ) 2.875% ( 2.875 % ) may 2014 may 2029 swiss franc notes ( c ) chf275 ( approximately $ 311 ) 0.750% ( 0.750 % ) may 2014 december 2019 swiss franc notes ( b ) chf250 ( approximately $ 283 ) 1.625% ( 1.625 % ) may 2014 may 2024 u.s .
dollar notes ( d ) $ 500 1.250% ( 1.250 % ) november 2014 november 2017 u.s .
dollar notes ( d ) $ 750 3.250% ( 3.250 % ) november 2014 november 2024 u.s .
dollar notes ( d ) $ 750 4.250% ( 4.250 % ) november 2014 november 2044 ( a ) interest on these notes is payable annually in arrears beginning in march 2015 .
( b ) interest on these notes is payable annually in arrears beginning in may 2015 .
( c ) interest on these notes is payable annually in arrears beginning in december 2014 .
( d ) interest on these notes is payable semiannually in arrears beginning in may 2015 .
( e ) u.s .
dollar equivalents for foreign currency notes were calculated based on exchange rates on the date of issuance .
the net proceeds from the sale of the securities listed in the table above will be used for general corporate purposes .
the weighted-average time to maturity of our long-term debt was 10.8 years at the end of 2013 and 2014 .
2022 off-balance sheet arrangements and aggregate contractual obligations we have no off-balance sheet arrangements , including special purpose entities , other than guarantees and contractual obligations discussed below .
guarantees 2013 at december 31 , 2014 , we were contingently liable for $ 1.0 billion of guarantees of our own performance , which were primarily related to excise taxes on the shipment of our products .
there is no liability in the consolidated financial statements associated with these guarantees .
at december 31 , 2014 , our third-party guarantees were insignificant. ._| | type | | face value ( e ) | interest rate | issuance | maturity |
|---:|:-------------------|:------|:----------------------------------|:-------------------|:--------------|:--------------|
| 0 | euro notes | ( a ) | 20ac750 ( approximately $ 1029 ) | 1.875% ( 1.875 % ) | march 2014 | march 2021 |
| 1 | euro notes | ( a ) | 20ac1000 ( approximately $ 1372 ) | 2.875% ( 2.875 % ) | march 2014 | march 2026 |
| 2 | euro notes | ( b ) | 20ac500 ( approximately $ 697 ) | 2.875% ( 2.875 % ) | may 2014 | may 2029 |
| 3 | swiss franc notes | ( c ) | chf275 ( approximately $ 311 ) | 0.750% ( 0.750 % ) | may 2014 | december 2019 |
| 4 | swiss franc notes | ( b ) | chf250 ( approximately $ 283 ) | 1.625% ( 1.625 % ) | may 2014 | may 2024 |
| 5 | u.s . dollar notes | ( d ) | $ 500 | 1.250% ( 1.250 % ) | november 2014 | november 2017 |
| 6 | u.s . dollar notes | ( d ) | $ 750 | 3.250% ( 3.250 % ) | november 2014 | november 2024 |
| 7 | u.s . dollar notes | ( d ) | $ 750 | 4.250% ( 4.250 % ) | november 2014 | november 2044 |_our debt issuances in 2014 were as follows : ( in millions ) type face value ( e ) interest rate issuance maturity euro notes ( a ) 20ac750 ( approximately $ 1029 ) 1.875% ( 1.875 % ) march 2014 march 2021 euro notes ( a ) 20ac1000 ( approximately $ 1372 ) 2.875% ( 2.875 % ) march 2014 march 2026 euro notes ( b ) 20ac500 ( approximately $ 697 ) 2.875% ( 2.875 % ) may 2014 may 2029 swiss franc notes ( c ) chf275 ( approximately $ 311 ) 0.750% ( 0.750 % ) may 2014 december 2019 swiss franc notes ( b ) chf250 ( approximately $ 283 ) 1.625% ( 1.625 % ) may 2014 may 2024 u.s .
dollar notes ( d ) $ 500 1.250% ( 1.250 % ) november 2014 november 2017 u.s .
dollar notes ( d ) $ 750 3.250% ( 3.250 % ) november 2014 november 2024 u.s .
dollar notes ( d ) $ 750 4.250% ( 4.250 % ) november 2014 november 2044 ( a ) interest on these notes is payable annually in arrears beginning in march 2015 .
( b ) interest on these notes is payable annually in arrears beginning in may 2015 .
( c ) interest on these notes is payable annually in arrears beginning in december 2014 .
( d ) interest on these notes is payable semiannually in arrears beginning in may 2015 .
( e ) u.s .
dollar equivalents for foreign currency notes were calculated based on exchange rates on the date of issuance .
the net proceeds from the sale of the securities listed in the table above will be used for general corporate purposes .
the weighted-average time to maturity of our long-term debt was 10.8 years at the end of 2013 and 2014 .
2022 off-balance sheet arrangements and aggregate contractual obligations we have no off-balance sheet arrangements , including special purpose entities , other than guarantees and contractual obligations discussed below .
guarantees 2013 at december 31 , 2014 , we were contingently liable for $ 1.0 billion of guarantees of our own performance , which were primarily related to excise taxes on the shipment of our products .
there is no liability in the consolidated financial statements associated with these guarantees .
at december 31 , 2014 , our third-party guarantees were insignificant. .
| 2,014
| 67
|
PM
|
Philip Morris International
|
Consumer Staples
|
Tobacco
|
New York City, New York
|
2008-03-31
| 1,413,329
|
2008 (1847)
| null | null |
finqa47
|
what was the percent of the increase in non-utility nuclear earnings in 2002
|
57%
|
divide(subtract(201, 128), 128)
|
entergy corporation and subsidiaries management's financial discussion and analysis the decrease in interest income in 2002 was primarily due to : fffd interest recognized in 2001 on grand gulf 1's decommissioning trust funds resulting from the final order addressing system energy's rate proceeding ; fffd interest recognized in 2001 at entergy mississippi and entergy new orleans on the deferred system energy costs that were not being recovered through rates ; and fffd lower interest earned on declining deferred fuel balances .
the decrease in interest charges in 2002 is primarily due to : fffd a decrease of $ 31.9 million in interest on long-term debt primarily due to the retirement of long-term debt in late 2001 and early 2002 ; and fffd a decrease of $ 76.0 million in other interest expense primarily due to interest recorded on system energy's reserve for rate refund in 2001 .
the refund was made in december 2001 .
2001 compared to 2000 results for the year ended december 31 , 2001 for u.s .
utility were also affected by an increase in interest charges of $ 61.5 million primarily due to : fffd the final ferc order addressing the 1995 system energy rate filing ; fffd debt issued at entergy arkansas in july 2001 , at entergy gulf states in june 2000 and august 2001 , at entergy mississippi in january 2001 , and at entergy new orleans in july 2000 and february 2001 ; and fffd borrowings under credit facilities during 2001 , primarily at entergy arkansas .
non-utility nuclear the increase in earnings in 2002 for non-utility nuclear from $ 128 million to $ 201 million was primarily due to the operation of indian point 2 and vermont yankee , which were purchased in september 2001 and july 2002 , respectively .
the increase in earnings in 2001 for non-utility nuclear from $ 49 million to $ 128 million was primarily due to the operation of fitzpatrick and indian point 3 for a full year , as each was purchased in november 2000 , and the operation of indian point 2 , which was purchased in september 2001 .
following are key performance measures for non-utility nuclear: .
|
2002 compared to 2001 the following fluctuations in the results of operations for non-utility nuclear in 2002 were primarily caused by the acquisitions of indian point 2 and vermont yankee ( except as otherwise noted ) : fffd operating revenues increased $ 411.0 million to $ 1.2 billion ; fffd other operation and maintenance expenses increased $ 201.8 million to $ 596.3 million ; fffd depreciation and amortization expenses increased $ 25.1 million to $ 42.8 million ; fffd fuel expenses increased $ 29.4 million to $ 105.2 million ; fffd nuclear refueling outage expenses increased $ 23.9 million to $ 46.8 million , which was due primarily to a .
|
| | | 2002 | 2001 | 2000 |
|---:|:-----------------------------------|:-------------|:-------------|:-------------|
| 0 | net mw in operation at december 31 | 3955 | 3445 | 2475 |
| 1 | generation in gwh for the year | 29953 | 22614 | 7171 |
| 2 | capacity factor for the year | 93% ( 93 % ) | 93% ( 93 % ) | 94% ( 94 % ) |
|
entergy corporation and subsidiaries management's financial discussion and analysis the decrease in interest income in 2002 was primarily due to : fffd interest recognized in 2001 on grand gulf 1's decommissioning trust funds resulting from the final order addressing system energy's rate proceeding ; fffd interest recognized in 2001 at entergy mississippi and entergy new orleans on the deferred system energy costs that were not being recovered through rates ; and fffd lower interest earned on declining deferred fuel balances .
the decrease in interest charges in 2002 is primarily due to : fffd a decrease of $ 31.9 million in interest on long-term debt primarily due to the retirement of long-term debt in late 2001 and early 2002 ; and fffd a decrease of $ 76.0 million in other interest expense primarily due to interest recorded on system energy's reserve for rate refund in 2001 .
the refund was made in december 2001 .
2001 compared to 2000 results for the year ended december 31 , 2001 for u.s .
utility were also affected by an increase in interest charges of $ 61.5 million primarily due to : fffd the final ferc order addressing the 1995 system energy rate filing ; fffd debt issued at entergy arkansas in july 2001 , at entergy gulf states in june 2000 and august 2001 , at entergy mississippi in january 2001 , and at entergy new orleans in july 2000 and february 2001 ; and fffd borrowings under credit facilities during 2001 , primarily at entergy arkansas .
non-utility nuclear the increase in earnings in 2002 for non-utility nuclear from $ 128 million to $ 201 million was primarily due to the operation of indian point 2 and vermont yankee , which were purchased in september 2001 and july 2002 , respectively .
the increase in earnings in 2001 for non-utility nuclear from $ 49 million to $ 128 million was primarily due to the operation of fitzpatrick and indian point 3 for a full year , as each was purchased in november 2000 , and the operation of indian point 2 , which was purchased in september 2001 .
following are key performance measures for non-utility nuclear: ._| | | 2002 | 2001 | 2000 |
|---:|:-----------------------------------|:-------------|:-------------|:-------------|
| 0 | net mw in operation at december 31 | 3955 | 3445 | 2475 |
| 1 | generation in gwh for the year | 29953 | 22614 | 7171 |
| 2 | capacity factor for the year | 93% ( 93 % ) | 93% ( 93 % ) | 94% ( 94 % ) |_2002 compared to 2001 the following fluctuations in the results of operations for non-utility nuclear in 2002 were primarily caused by the acquisitions of indian point 2 and vermont yankee ( except as otherwise noted ) : fffd operating revenues increased $ 411.0 million to $ 1.2 billion ; fffd other operation and maintenance expenses increased $ 201.8 million to $ 596.3 million ; fffd depreciation and amortization expenses increased $ 25.1 million to $ 42.8 million ; fffd fuel expenses increased $ 29.4 million to $ 105.2 million ; fffd nuclear refueling outage expenses increased $ 23.9 million to $ 46.8 million , which was due primarily to a .
| 2,002
| 24
|
ETR
|
Entergy
|
Utilities
|
Electric Utilities
|
New Orleans, Louisiana
|
1957-03-04
| 65,984
|
1913
|
what was the percent of the increase in non-utility nuclear earnings in 2002
|
57%
|
divide(subtract(201, 128), 128)
|
entergy corporation and subsidiaries management's financial discussion and analysis the decrease in interest income in 2002 was primarily due to : fffd interest recognized in 2001 on grand gulf 1's decommissioning trust funds resulting from the final order addressing system energy's rate proceeding ; fffd interest recognized in 2001 at entergy mississippi and entergy new orleans on the deferred system energy costs that were not being recovered through rates ; and fffd lower interest earned on declining deferred fuel balances .
the decrease in interest charges in 2002 is primarily due to : fffd a decrease of $ 31.9 million in interest on long-term debt primarily due to the retirement of long-term debt in late 2001 and early 2002 ; and fffd a decrease of $ 76.0 million in other interest expense primarily due to interest recorded on system energy's reserve for rate refund in 2001 .
the refund was made in december 2001 .
2001 compared to 2000 results for the year ended december 31 , 2001 for u.s .
utility were also affected by an increase in interest charges of $ 61.5 million primarily due to : fffd the final ferc order addressing the 1995 system energy rate filing ; fffd debt issued at entergy arkansas in july 2001 , at entergy gulf states in june 2000 and august 2001 , at entergy mississippi in january 2001 , and at entergy new orleans in july 2000 and february 2001 ; and fffd borrowings under credit facilities during 2001 , primarily at entergy arkansas .
non-utility nuclear the increase in earnings in 2002 for non-utility nuclear from $ 128 million to $ 201 million was primarily due to the operation of indian point 2 and vermont yankee , which were purchased in september 2001 and july 2002 , respectively .
the increase in earnings in 2001 for non-utility nuclear from $ 49 million to $ 128 million was primarily due to the operation of fitzpatrick and indian point 3 for a full year , as each was purchased in november 2000 , and the operation of indian point 2 , which was purchased in september 2001 .
following are key performance measures for non-utility nuclear: .
|
2002 compared to 2001 the following fluctuations in the results of operations for non-utility nuclear in 2002 were primarily caused by the acquisitions of indian point 2 and vermont yankee ( except as otherwise noted ) : fffd operating revenues increased $ 411.0 million to $ 1.2 billion ; fffd other operation and maintenance expenses increased $ 201.8 million to $ 596.3 million ; fffd depreciation and amortization expenses increased $ 25.1 million to $ 42.8 million ; fffd fuel expenses increased $ 29.4 million to $ 105.2 million ; fffd nuclear refueling outage expenses increased $ 23.9 million to $ 46.8 million , which was due primarily to a .
|
| | | 2002 | 2001 | 2000 |
|---:|:-----------------------------------|:-------------|:-------------|:-------------|
| 0 | net mw in operation at december 31 | 3955 | 3445 | 2475 |
| 1 | generation in gwh for the year | 29953 | 22614 | 7171 |
| 2 | capacity factor for the year | 93% ( 93 % ) | 93% ( 93 % ) | 94% ( 94 % ) |
|
entergy corporation and subsidiaries management's financial discussion and analysis the decrease in interest income in 2002 was primarily due to : fffd interest recognized in 2001 on grand gulf 1's decommissioning trust funds resulting from the final order addressing system energy's rate proceeding ; fffd interest recognized in 2001 at entergy mississippi and entergy new orleans on the deferred system energy costs that were not being recovered through rates ; and fffd lower interest earned on declining deferred fuel balances .
the decrease in interest charges in 2002 is primarily due to : fffd a decrease of $ 31.9 million in interest on long-term debt primarily due to the retirement of long-term debt in late 2001 and early 2002 ; and fffd a decrease of $ 76.0 million in other interest expense primarily due to interest recorded on system energy's reserve for rate refund in 2001 .
the refund was made in december 2001 .
2001 compared to 2000 results for the year ended december 31 , 2001 for u.s .
utility were also affected by an increase in interest charges of $ 61.5 million primarily due to : fffd the final ferc order addressing the 1995 system energy rate filing ; fffd debt issued at entergy arkansas in july 2001 , at entergy gulf states in june 2000 and august 2001 , at entergy mississippi in january 2001 , and at entergy new orleans in july 2000 and february 2001 ; and fffd borrowings under credit facilities during 2001 , primarily at entergy arkansas .
non-utility nuclear the increase in earnings in 2002 for non-utility nuclear from $ 128 million to $ 201 million was primarily due to the operation of indian point 2 and vermont yankee , which were purchased in september 2001 and july 2002 , respectively .
the increase in earnings in 2001 for non-utility nuclear from $ 49 million to $ 128 million was primarily due to the operation of fitzpatrick and indian point 3 for a full year , as each was purchased in november 2000 , and the operation of indian point 2 , which was purchased in september 2001 .
following are key performance measures for non-utility nuclear: ._| | | 2002 | 2001 | 2000 |
|---:|:-----------------------------------|:-------------|:-------------|:-------------|
| 0 | net mw in operation at december 31 | 3955 | 3445 | 2475 |
| 1 | generation in gwh for the year | 29953 | 22614 | 7171 |
| 2 | capacity factor for the year | 93% ( 93 % ) | 93% ( 93 % ) | 94% ( 94 % ) |_2002 compared to 2001 the following fluctuations in the results of operations for non-utility nuclear in 2002 were primarily caused by the acquisitions of indian point 2 and vermont yankee ( except as otherwise noted ) : fffd operating revenues increased $ 411.0 million to $ 1.2 billion ; fffd other operation and maintenance expenses increased $ 201.8 million to $ 596.3 million ; fffd depreciation and amortization expenses increased $ 25.1 million to $ 42.8 million ; fffd fuel expenses increased $ 29.4 million to $ 105.2 million ; fffd nuclear refueling outage expenses increased $ 23.9 million to $ 46.8 million , which was due primarily to a .
| 2,002
| 24
|
ETR
|
Entergy
|
Utilities
|
Electric Utilities
|
New Orleans, Louisiana
|
1957-03-04
| 65,984
|
1913
| null | null |
finqa48
|
what was the average currency translation adjustments from 2013 to 2015 in millions?
|
-6806
|
table_average(currency translation adjustments, none)
|
note 17 .
accumulated other comprehensive losses : pmi's accumulated other comprehensive losses , net of taxes , consisted of the following: .
|
reclassifications from other comprehensive earnings the movements in accumulated other comprehensive losses and the related tax impact , for each of the components above , that are due to current period activity and reclassifications to the income statement are shown on the consolidated statements of comprehensive earnings for the years ended december 31 , 2015 , 2014 , and 2013 .
the movement in currency translation adjustments for the year ended december 31 , 2013 , was also impacted by the purchase of the remaining shares of the mexican tobacco business .
in addition , $ 1 million , $ 5 million and $ 12 million of net currency translation adjustment gains were transferred from other comprehensive earnings to marketing , administration and research costs in the consolidated statements of earnings for the years ended december 31 , 2015 , 2014 and 2013 , respectively , upon liquidation of subsidiaries .
for additional information , see note 13 .
benefit plans and note 15 .
financial instruments for disclosures related to pmi's pension and other benefits and derivative financial instruments .
note 18 .
colombian investment and cooperation agreement : on june 19 , 2009 , pmi announced that it had signed an agreement with the republic of colombia , together with the departments of colombia and the capital district of bogota , to promote investment and cooperation with respect to the colombian tobacco market and to fight counterfeit and contraband tobacco products .
the investment and cooperation agreement provides $ 200 million in funding to the colombian governments over a 20-year period to address issues of mutual interest , such as combating the illegal cigarette trade , including the threat of counterfeit tobacco products , and increasing the quality and quantity of locally grown tobacco .
as a result of the investment and cooperation agreement , pmi recorded a pre-tax charge of $ 135 million in the operating results of the latin america & canada segment during the second quarter of 2009 .
at december 31 , 2015 and 2014 , pmi had $ 73 million and $ 71 million , respectively , of discounted liabilities associated with the colombian investment and cooperation agreement .
these discounted liabilities are primarily reflected in other long-term liabilities on the consolidated balance sheets and are expected to be paid through 2028 .
note 19 .
rbh legal settlement : on july 31 , 2008 , rothmans inc .
( "rothmans" ) announced the finalization of a cad 550 million settlement ( or approximately $ 540 million , based on the prevailing exchange rate at that time ) between itself and rothmans , benson & hedges inc .
( "rbh" ) , on the one hand , and the government of canada and all 10 provinces , on the other hand .
the settlement resolved the royal canadian mounted police's investigation relating to products exported from canada by rbh during the 1989-1996 period .
rothmans' sole holding was a 60% ( 60 % ) interest in rbh .
the remaining 40% ( 40 % ) interest in rbh was owned by pmi. .
|
| | ( losses ) earnings ( in millions ) | ( losses ) earnings 2015 | ( losses ) earnings 2014 | 2013 |
|---:|:---------------------------------------------|:---------------------------|:---------------------------|:-----------------|
| 0 | currency translation adjustments | $ -6129 ( 6129 ) | $ -3929 ( 3929 ) | $ -2207 ( 2207 ) |
| 1 | pension and other benefits | -3332 ( 3332 ) | -3020 ( 3020 ) | -2046 ( 2046 ) |
| 2 | derivatives accounted for as hedges | 59 | 123 | 63 |
| 3 | total accumulated other comprehensive losses | $ -9402 ( 9402 ) | $ -6826 ( 6826 ) | $ -4190 ( 4190 ) |
|
note 17 .
accumulated other comprehensive losses : pmi's accumulated other comprehensive losses , net of taxes , consisted of the following: ._| | ( losses ) earnings ( in millions ) | ( losses ) earnings 2015 | ( losses ) earnings 2014 | 2013 |
|---:|:---------------------------------------------|:---------------------------|:---------------------------|:-----------------|
| 0 | currency translation adjustments | $ -6129 ( 6129 ) | $ -3929 ( 3929 ) | $ -2207 ( 2207 ) |
| 1 | pension and other benefits | -3332 ( 3332 ) | -3020 ( 3020 ) | -2046 ( 2046 ) |
| 2 | derivatives accounted for as hedges | 59 | 123 | 63 |
| 3 | total accumulated other comprehensive losses | $ -9402 ( 9402 ) | $ -6826 ( 6826 ) | $ -4190 ( 4190 ) |_reclassifications from other comprehensive earnings the movements in accumulated other comprehensive losses and the related tax impact , for each of the components above , that are due to current period activity and reclassifications to the income statement are shown on the consolidated statements of comprehensive earnings for the years ended december 31 , 2015 , 2014 , and 2013 .
the movement in currency translation adjustments for the year ended december 31 , 2013 , was also impacted by the purchase of the remaining shares of the mexican tobacco business .
in addition , $ 1 million , $ 5 million and $ 12 million of net currency translation adjustment gains were transferred from other comprehensive earnings to marketing , administration and research costs in the consolidated statements of earnings for the years ended december 31 , 2015 , 2014 and 2013 , respectively , upon liquidation of subsidiaries .
for additional information , see note 13 .
benefit plans and note 15 .
financial instruments for disclosures related to pmi's pension and other benefits and derivative financial instruments .
note 18 .
colombian investment and cooperation agreement : on june 19 , 2009 , pmi announced that it had signed an agreement with the republic of colombia , together with the departments of colombia and the capital district of bogota , to promote investment and cooperation with respect to the colombian tobacco market and to fight counterfeit and contraband tobacco products .
the investment and cooperation agreement provides $ 200 million in funding to the colombian governments over a 20-year period to address issues of mutual interest , such as combating the illegal cigarette trade , including the threat of counterfeit tobacco products , and increasing the quality and quantity of locally grown tobacco .
as a result of the investment and cooperation agreement , pmi recorded a pre-tax charge of $ 135 million in the operating results of the latin america & canada segment during the second quarter of 2009 .
at december 31 , 2015 and 2014 , pmi had $ 73 million and $ 71 million , respectively , of discounted liabilities associated with the colombian investment and cooperation agreement .
these discounted liabilities are primarily reflected in other long-term liabilities on the consolidated balance sheets and are expected to be paid through 2028 .
note 19 .
rbh legal settlement : on july 31 , 2008 , rothmans inc .
( "rothmans" ) announced the finalization of a cad 550 million settlement ( or approximately $ 540 million , based on the prevailing exchange rate at that time ) between itself and rothmans , benson & hedges inc .
( "rbh" ) , on the one hand , and the government of canada and all 10 provinces , on the other hand .
the settlement resolved the royal canadian mounted police's investigation relating to products exported from canada by rbh during the 1989-1996 period .
rothmans' sole holding was a 60% ( 60 % ) interest in rbh .
the remaining 40% ( 40 % ) interest in rbh was owned by pmi. .
| 2,015
| 127
|
PM
|
Philip Morris International
|
Consumer Staples
|
Tobacco
|
New York City, New York
|
2008-03-31
| 1,413,329
|
2008 (1847)
|
what was the average currency translation adjustments from 2013 to 2015 in millions?
|
-6806
|
table_average(currency translation adjustments, none)
|
note 17 .
accumulated other comprehensive losses : pmi's accumulated other comprehensive losses , net of taxes , consisted of the following: .
|
reclassifications from other comprehensive earnings the movements in accumulated other comprehensive losses and the related tax impact , for each of the components above , that are due to current period activity and reclassifications to the income statement are shown on the consolidated statements of comprehensive earnings for the years ended december 31 , 2015 , 2014 , and 2013 .
the movement in currency translation adjustments for the year ended december 31 , 2013 , was also impacted by the purchase of the remaining shares of the mexican tobacco business .
in addition , $ 1 million , $ 5 million and $ 12 million of net currency translation adjustment gains were transferred from other comprehensive earnings to marketing , administration and research costs in the consolidated statements of earnings for the years ended december 31 , 2015 , 2014 and 2013 , respectively , upon liquidation of subsidiaries .
for additional information , see note 13 .
benefit plans and note 15 .
financial instruments for disclosures related to pmi's pension and other benefits and derivative financial instruments .
note 18 .
colombian investment and cooperation agreement : on june 19 , 2009 , pmi announced that it had signed an agreement with the republic of colombia , together with the departments of colombia and the capital district of bogota , to promote investment and cooperation with respect to the colombian tobacco market and to fight counterfeit and contraband tobacco products .
the investment and cooperation agreement provides $ 200 million in funding to the colombian governments over a 20-year period to address issues of mutual interest , such as combating the illegal cigarette trade , including the threat of counterfeit tobacco products , and increasing the quality and quantity of locally grown tobacco .
as a result of the investment and cooperation agreement , pmi recorded a pre-tax charge of $ 135 million in the operating results of the latin america & canada segment during the second quarter of 2009 .
at december 31 , 2015 and 2014 , pmi had $ 73 million and $ 71 million , respectively , of discounted liabilities associated with the colombian investment and cooperation agreement .
these discounted liabilities are primarily reflected in other long-term liabilities on the consolidated balance sheets and are expected to be paid through 2028 .
note 19 .
rbh legal settlement : on july 31 , 2008 , rothmans inc .
( "rothmans" ) announced the finalization of a cad 550 million settlement ( or approximately $ 540 million , based on the prevailing exchange rate at that time ) between itself and rothmans , benson & hedges inc .
( "rbh" ) , on the one hand , and the government of canada and all 10 provinces , on the other hand .
the settlement resolved the royal canadian mounted police's investigation relating to products exported from canada by rbh during the 1989-1996 period .
rothmans' sole holding was a 60% ( 60 % ) interest in rbh .
the remaining 40% ( 40 % ) interest in rbh was owned by pmi. .
|
| | ( losses ) earnings ( in millions ) | ( losses ) earnings 2015 | ( losses ) earnings 2014 | 2013 |
|---:|:---------------------------------------------|:---------------------------|:---------------------------|:-----------------|
| 0 | currency translation adjustments | $ -6129 ( 6129 ) | $ -3929 ( 3929 ) | $ -2207 ( 2207 ) |
| 1 | pension and other benefits | -3332 ( 3332 ) | -3020 ( 3020 ) | -2046 ( 2046 ) |
| 2 | derivatives accounted for as hedges | 59 | 123 | 63 |
| 3 | total accumulated other comprehensive losses | $ -9402 ( 9402 ) | $ -6826 ( 6826 ) | $ -4190 ( 4190 ) |
|
note 17 .
accumulated other comprehensive losses : pmi's accumulated other comprehensive losses , net of taxes , consisted of the following: ._| | ( losses ) earnings ( in millions ) | ( losses ) earnings 2015 | ( losses ) earnings 2014 | 2013 |
|---:|:---------------------------------------------|:---------------------------|:---------------------------|:-----------------|
| 0 | currency translation adjustments | $ -6129 ( 6129 ) | $ -3929 ( 3929 ) | $ -2207 ( 2207 ) |
| 1 | pension and other benefits | -3332 ( 3332 ) | -3020 ( 3020 ) | -2046 ( 2046 ) |
| 2 | derivatives accounted for as hedges | 59 | 123 | 63 |
| 3 | total accumulated other comprehensive losses | $ -9402 ( 9402 ) | $ -6826 ( 6826 ) | $ -4190 ( 4190 ) |_reclassifications from other comprehensive earnings the movements in accumulated other comprehensive losses and the related tax impact , for each of the components above , that are due to current period activity and reclassifications to the income statement are shown on the consolidated statements of comprehensive earnings for the years ended december 31 , 2015 , 2014 , and 2013 .
the movement in currency translation adjustments for the year ended december 31 , 2013 , was also impacted by the purchase of the remaining shares of the mexican tobacco business .
in addition , $ 1 million , $ 5 million and $ 12 million of net currency translation adjustment gains were transferred from other comprehensive earnings to marketing , administration and research costs in the consolidated statements of earnings for the years ended december 31 , 2015 , 2014 and 2013 , respectively , upon liquidation of subsidiaries .
for additional information , see note 13 .
benefit plans and note 15 .
financial instruments for disclosures related to pmi's pension and other benefits and derivative financial instruments .
note 18 .
colombian investment and cooperation agreement : on june 19 , 2009 , pmi announced that it had signed an agreement with the republic of colombia , together with the departments of colombia and the capital district of bogota , to promote investment and cooperation with respect to the colombian tobacco market and to fight counterfeit and contraband tobacco products .
the investment and cooperation agreement provides $ 200 million in funding to the colombian governments over a 20-year period to address issues of mutual interest , such as combating the illegal cigarette trade , including the threat of counterfeit tobacco products , and increasing the quality and quantity of locally grown tobacco .
as a result of the investment and cooperation agreement , pmi recorded a pre-tax charge of $ 135 million in the operating results of the latin america & canada segment during the second quarter of 2009 .
at december 31 , 2015 and 2014 , pmi had $ 73 million and $ 71 million , respectively , of discounted liabilities associated with the colombian investment and cooperation agreement .
these discounted liabilities are primarily reflected in other long-term liabilities on the consolidated balance sheets and are expected to be paid through 2028 .
note 19 .
rbh legal settlement : on july 31 , 2008 , rothmans inc .
( "rothmans" ) announced the finalization of a cad 550 million settlement ( or approximately $ 540 million , based on the prevailing exchange rate at that time ) between itself and rothmans , benson & hedges inc .
( "rbh" ) , on the one hand , and the government of canada and all 10 provinces , on the other hand .
the settlement resolved the royal canadian mounted police's investigation relating to products exported from canada by rbh during the 1989-1996 period .
rothmans' sole holding was a 60% ( 60 % ) interest in rbh .
the remaining 40% ( 40 % ) interest in rbh was owned by pmi. .
| 2,015
| 127
|
PM
|
Philip Morris International
|
Consumer Staples
|
Tobacco
|
New York City, New York
|
2008-03-31
| 1,413,329
|
2008 (1847)
| null | null |
finqa49
|
what was the ratio of the gallons hedged in 2017 to 2018
|
4
|
divide(12000000, 3000000)
|
republic services , inc .
notes to consolidated financial statements 2014 ( continued ) 16 .
financial instruments fuel hedges we have entered into multiple swap agreements designated as cash flow hedges to mitigate some of our exposure related to changes in diesel fuel prices .
these swaps qualified for , and were designated as , effective hedges of changes in the prices of forecasted diesel fuel purchases ( fuel hedges ) .
the following table summarizes our outstanding fuel hedges as of december 31 , 2016 : year gallons hedged weighted average contract price per gallon .
|
if the national u.s .
on-highway average price for a gallon of diesel fuel as published by the department of energy exceeds the contract price per gallon , we receive the difference between the average price and the contract price ( multiplied by the notional gallons ) from the counterparty .
if the average price is less than the contract price per gallon , we pay the difference to the counterparty .
the fair values of our fuel hedges are determined using standard option valuation models with assumptions about commodity prices based on those observed in underlying markets ( level 2 in the fair value hierarchy ) .
the aggregate fair values of our outstanding fuel hedges as of december 31 , 2016 and 2015 were current liabilities of $ 2.7 million and $ 37.8 million , respectively , and have been recorded in other accrued liabilities in our consolidated balance sheets .
the ineffective portions of the changes in fair values resulted in a gain of $ 0.8 million for the year ended december 31 , 2016 , and a loss of $ 0.4 million and $ 0.5 million for the years ended december 31 , 2015 and 2014 , respectively , and have been recorded in other income , net in our consolidated statements of income .
total gain ( loss ) recognized in other comprehensive income ( loss ) for fuel hedges ( the effective portion ) was $ 20.7 million , $ ( 2.0 ) million and $ ( 24.2 ) million , for the years ended december 31 , 2016 , 2015 and 2014 , respectively .
we classify cash inflows and outflows from our fuel hedges within operating activities in the unaudited consolidated statements of cash flows .
recycling commodity hedges revenue from the sale of recycled commodities is primarily from sales of old corrugated containers and old newsprint .
from time to time we use derivative instruments such as swaps and costless collars designated as cash flow hedges to manage our exposure to changes in prices of these commodities .
during 2016 , we entered into multiple agreements related to the forecasted occ sales .
the agreements qualified for , and were designated as , effective hedges of changes in the prices of certain forecasted recycling commodity sales ( commodity hedges ) .
we entered into costless collar agreements on forecasted sales of occ .
the agreements involve combining a purchased put option giving us the right to sell occ at an established floor strike price with a written call option obligating us to deliver occ at an established cap strike price .
the puts and calls have the same settlement dates , are net settled in cash on such dates and have the same terms to expiration .
the contemporaneous combination of options resulted in no net premium for us and represents costless collars .
under these agreements , we will make or receive no payments as long as the settlement price is between the floor price and cap price ; however , if the settlement price is above the cap , we will pay the counterparty an amount equal to the excess of the settlement price over the cap times the monthly volumes hedged .
if the settlement price is below the floor , the counterparty will pay us the deficit of the settlement price below the floor times the monthly volumes hedged .
the objective of these agreements is to reduce variability of cash flows for forecasted sales of occ between two designated strike prices. .
|
| | year | gallons hedged | weighted average contractprice per gallon |
|---:|-------:|-----------------:|:--------------------------------------------|
| 0 | 2017 | 12000000 | $ 2.92 |
| 1 | 2018 | 3000000 | 2.61 |
|
republic services , inc .
notes to consolidated financial statements 2014 ( continued ) 16 .
financial instruments fuel hedges we have entered into multiple swap agreements designated as cash flow hedges to mitigate some of our exposure related to changes in diesel fuel prices .
these swaps qualified for , and were designated as , effective hedges of changes in the prices of forecasted diesel fuel purchases ( fuel hedges ) .
the following table summarizes our outstanding fuel hedges as of december 31 , 2016 : year gallons hedged weighted average contract price per gallon ._| | year | gallons hedged | weighted average contractprice per gallon |
|---:|-------:|-----------------:|:--------------------------------------------|
| 0 | 2017 | 12000000 | $ 2.92 |
| 1 | 2018 | 3000000 | 2.61 |_if the national u.s .
on-highway average price for a gallon of diesel fuel as published by the department of energy exceeds the contract price per gallon , we receive the difference between the average price and the contract price ( multiplied by the notional gallons ) from the counterparty .
if the average price is less than the contract price per gallon , we pay the difference to the counterparty .
the fair values of our fuel hedges are determined using standard option valuation models with assumptions about commodity prices based on those observed in underlying markets ( level 2 in the fair value hierarchy ) .
the aggregate fair values of our outstanding fuel hedges as of december 31 , 2016 and 2015 were current liabilities of $ 2.7 million and $ 37.8 million , respectively , and have been recorded in other accrued liabilities in our consolidated balance sheets .
the ineffective portions of the changes in fair values resulted in a gain of $ 0.8 million for the year ended december 31 , 2016 , and a loss of $ 0.4 million and $ 0.5 million for the years ended december 31 , 2015 and 2014 , respectively , and have been recorded in other income , net in our consolidated statements of income .
total gain ( loss ) recognized in other comprehensive income ( loss ) for fuel hedges ( the effective portion ) was $ 20.7 million , $ ( 2.0 ) million and $ ( 24.2 ) million , for the years ended december 31 , 2016 , 2015 and 2014 , respectively .
we classify cash inflows and outflows from our fuel hedges within operating activities in the unaudited consolidated statements of cash flows .
recycling commodity hedges revenue from the sale of recycled commodities is primarily from sales of old corrugated containers and old newsprint .
from time to time we use derivative instruments such as swaps and costless collars designated as cash flow hedges to manage our exposure to changes in prices of these commodities .
during 2016 , we entered into multiple agreements related to the forecasted occ sales .
the agreements qualified for , and were designated as , effective hedges of changes in the prices of certain forecasted recycling commodity sales ( commodity hedges ) .
we entered into costless collar agreements on forecasted sales of occ .
the agreements involve combining a purchased put option giving us the right to sell occ at an established floor strike price with a written call option obligating us to deliver occ at an established cap strike price .
the puts and calls have the same settlement dates , are net settled in cash on such dates and have the same terms to expiration .
the contemporaneous combination of options resulted in no net premium for us and represents costless collars .
under these agreements , we will make or receive no payments as long as the settlement price is between the floor price and cap price ; however , if the settlement price is above the cap , we will pay the counterparty an amount equal to the excess of the settlement price over the cap times the monthly volumes hedged .
if the settlement price is below the floor , the counterparty will pay us the deficit of the settlement price below the floor times the monthly volumes hedged .
the objective of these agreements is to reduce variability of cash flows for forecasted sales of occ between two designated strike prices. .
| 2,016
| 144
|
RSG
|
Republic Services
|
Industrials
|
Environmental & Facilities Services
|
Phoenix, Arizona
|
2008-12-05
| 1,060,391
|
1998 (1981)
|
what was the ratio of the gallons hedged in 2017 to 2018
|
4
|
divide(12000000, 3000000)
|
republic services , inc .
notes to consolidated financial statements 2014 ( continued ) 16 .
financial instruments fuel hedges we have entered into multiple swap agreements designated as cash flow hedges to mitigate some of our exposure related to changes in diesel fuel prices .
these swaps qualified for , and were designated as , effective hedges of changes in the prices of forecasted diesel fuel purchases ( fuel hedges ) .
the following table summarizes our outstanding fuel hedges as of december 31 , 2016 : year gallons hedged weighted average contract price per gallon .
|
if the national u.s .
on-highway average price for a gallon of diesel fuel as published by the department of energy exceeds the contract price per gallon , we receive the difference between the average price and the contract price ( multiplied by the notional gallons ) from the counterparty .
if the average price is less than the contract price per gallon , we pay the difference to the counterparty .
the fair values of our fuel hedges are determined using standard option valuation models with assumptions about commodity prices based on those observed in underlying markets ( level 2 in the fair value hierarchy ) .
the aggregate fair values of our outstanding fuel hedges as of december 31 , 2016 and 2015 were current liabilities of $ 2.7 million and $ 37.8 million , respectively , and have been recorded in other accrued liabilities in our consolidated balance sheets .
the ineffective portions of the changes in fair values resulted in a gain of $ 0.8 million for the year ended december 31 , 2016 , and a loss of $ 0.4 million and $ 0.5 million for the years ended december 31 , 2015 and 2014 , respectively , and have been recorded in other income , net in our consolidated statements of income .
total gain ( loss ) recognized in other comprehensive income ( loss ) for fuel hedges ( the effective portion ) was $ 20.7 million , $ ( 2.0 ) million and $ ( 24.2 ) million , for the years ended december 31 , 2016 , 2015 and 2014 , respectively .
we classify cash inflows and outflows from our fuel hedges within operating activities in the unaudited consolidated statements of cash flows .
recycling commodity hedges revenue from the sale of recycled commodities is primarily from sales of old corrugated containers and old newsprint .
from time to time we use derivative instruments such as swaps and costless collars designated as cash flow hedges to manage our exposure to changes in prices of these commodities .
during 2016 , we entered into multiple agreements related to the forecasted occ sales .
the agreements qualified for , and were designated as , effective hedges of changes in the prices of certain forecasted recycling commodity sales ( commodity hedges ) .
we entered into costless collar agreements on forecasted sales of occ .
the agreements involve combining a purchased put option giving us the right to sell occ at an established floor strike price with a written call option obligating us to deliver occ at an established cap strike price .
the puts and calls have the same settlement dates , are net settled in cash on such dates and have the same terms to expiration .
the contemporaneous combination of options resulted in no net premium for us and represents costless collars .
under these agreements , we will make or receive no payments as long as the settlement price is between the floor price and cap price ; however , if the settlement price is above the cap , we will pay the counterparty an amount equal to the excess of the settlement price over the cap times the monthly volumes hedged .
if the settlement price is below the floor , the counterparty will pay us the deficit of the settlement price below the floor times the monthly volumes hedged .
the objective of these agreements is to reduce variability of cash flows for forecasted sales of occ between two designated strike prices. .
|
| | year | gallons hedged | weighted average contractprice per gallon |
|---:|-------:|-----------------:|:--------------------------------------------|
| 0 | 2017 | 12000000 | $ 2.92 |
| 1 | 2018 | 3000000 | 2.61 |
|
republic services , inc .
notes to consolidated financial statements 2014 ( continued ) 16 .
financial instruments fuel hedges we have entered into multiple swap agreements designated as cash flow hedges to mitigate some of our exposure related to changes in diesel fuel prices .
these swaps qualified for , and were designated as , effective hedges of changes in the prices of forecasted diesel fuel purchases ( fuel hedges ) .
the following table summarizes our outstanding fuel hedges as of december 31 , 2016 : year gallons hedged weighted average contract price per gallon ._| | year | gallons hedged | weighted average contractprice per gallon |
|---:|-------:|-----------------:|:--------------------------------------------|
| 0 | 2017 | 12000000 | $ 2.92 |
| 1 | 2018 | 3000000 | 2.61 |_if the national u.s .
on-highway average price for a gallon of diesel fuel as published by the department of energy exceeds the contract price per gallon , we receive the difference between the average price and the contract price ( multiplied by the notional gallons ) from the counterparty .
if the average price is less than the contract price per gallon , we pay the difference to the counterparty .
the fair values of our fuel hedges are determined using standard option valuation models with assumptions about commodity prices based on those observed in underlying markets ( level 2 in the fair value hierarchy ) .
the aggregate fair values of our outstanding fuel hedges as of december 31 , 2016 and 2015 were current liabilities of $ 2.7 million and $ 37.8 million , respectively , and have been recorded in other accrued liabilities in our consolidated balance sheets .
the ineffective portions of the changes in fair values resulted in a gain of $ 0.8 million for the year ended december 31 , 2016 , and a loss of $ 0.4 million and $ 0.5 million for the years ended december 31 , 2015 and 2014 , respectively , and have been recorded in other income , net in our consolidated statements of income .
total gain ( loss ) recognized in other comprehensive income ( loss ) for fuel hedges ( the effective portion ) was $ 20.7 million , $ ( 2.0 ) million and $ ( 24.2 ) million , for the years ended december 31 , 2016 , 2015 and 2014 , respectively .
we classify cash inflows and outflows from our fuel hedges within operating activities in the unaudited consolidated statements of cash flows .
recycling commodity hedges revenue from the sale of recycled commodities is primarily from sales of old corrugated containers and old newsprint .
from time to time we use derivative instruments such as swaps and costless collars designated as cash flow hedges to manage our exposure to changes in prices of these commodities .
during 2016 , we entered into multiple agreements related to the forecasted occ sales .
the agreements qualified for , and were designated as , effective hedges of changes in the prices of certain forecasted recycling commodity sales ( commodity hedges ) .
we entered into costless collar agreements on forecasted sales of occ .
the agreements involve combining a purchased put option giving us the right to sell occ at an established floor strike price with a written call option obligating us to deliver occ at an established cap strike price .
the puts and calls have the same settlement dates , are net settled in cash on such dates and have the same terms to expiration .
the contemporaneous combination of options resulted in no net premium for us and represents costless collars .
under these agreements , we will make or receive no payments as long as the settlement price is between the floor price and cap price ; however , if the settlement price is above the cap , we will pay the counterparty an amount equal to the excess of the settlement price over the cap times the monthly volumes hedged .
if the settlement price is below the floor , the counterparty will pay us the deficit of the settlement price below the floor times the monthly volumes hedged .
the objective of these agreements is to reduce variability of cash flows for forecasted sales of occ between two designated strike prices. .
| 2,016
| 144
|
RSG
|
Republic Services
|
Industrials
|
Environmental & Facilities Services
|
Phoenix, Arizona
|
2008-12-05
| 1,060,391
|
1998 (1981)
| null | null |
finqa50
|
what percentage of the total purchase price is represented by goodwill?
|
22%
|
divide(multiply(3.4, const_1000), 15704)
|
software and will give the company a comprehensive design-to-silicon flow that links directly into the semiconductor manufacturing process .
integrating hpl 2019s yield management and test chip technologies into the company 2019s industry-leading dfm portfolio is also expected to enable customers to increase their productivity and improve profitability in the design and manufacture of advanced semiconductor devices .
purchase price .
the company paid $ 11.0 million in cash for all outstanding shares of hpl .
in addition , the company had a prior investment in hpl of approximately $ 1.9 million .
the total purchase consideration consisted of: .
|
acquisition-related costs of $ 2.8 million consist primarily of legal , tax and accounting fees of $ 1.6 million , $ 0.3 million of estimated facilities closure costs and other directly related charges , and $ 0.9 million in employee termination costs .
as of october 31 , 2006 , the company had paid $ 2.2 million of the acquisition related costs , of which $ 1.1 million were for professional services costs , $ 0.2 million were for facilities closure costs and $ 0.9 million were for employee termination costs .
the $ 0.6 million balance remaining at october 31 , 2006 consists of professional and tax-related service fees and facilities closure costs .
assets acquired .
the company acquired $ 8.5 million of intangible assets consisting of $ 5.1 million in core developed technology , $ 3.2 million in customer relationships and $ 0.2 million in backlog to be amortized over two to four years .
approximately $ 0.8 million of the purchase price represents the fair value of acquired in-process research and development projects that have not yet reached technological feasibility and have no alternative future use .
accordingly , the amount was immediately expensed and included in the company 2019s condensed consolidated statement of operations for the first quarter of fiscal year 2006 .
additionally , the company acquired tangible assets of $ 14.0 million and assumed liabilities of $ 10.9 million .
goodwill , representing the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired in the merger was $ 3.4 million .
goodwill resulted primarily from the company 2019s expectation of synergies from the integration of hpl 2019s technology with the company 2019s technology and operations .
other .
during the fiscal year 2006 , the company completed an asset acquisition for cash consideration of $ 1.5 million .
this acquisition is not considered material to the company 2019s consolidated balance sheet and results of operations .
fiscal 2005 acquisitions nassda corporation ( nassda ) the company acquired nassda on may 11 , 2005 .
reasons for the acquisition .
the company believes nassda 2019s full-chip circuit simulation and analysis software will broaden its offerings of transistor-level circuit simulation tools , particularly in the area of mixed-signal and memory design .
purchase price .
the company acquired all the outstanding shares of nassda for total cash consideration of $ 200.2 million , or $ 7.00 per share .
in addition , as required by the merger agreement , certain nassda officers , directors and employees who were defendants in certain preexisting litigation .
|
| | | ( in thousands ) |
|---:|:--------------------------|:-------------------|
| 0 | cash paid | $ 11001 |
| 1 | prior investment in hpl | 1872 |
| 2 | acquisition-related costs | 2831 |
| 3 | total purchase price | $ 15704 |
|
software and will give the company a comprehensive design-to-silicon flow that links directly into the semiconductor manufacturing process .
integrating hpl 2019s yield management and test chip technologies into the company 2019s industry-leading dfm portfolio is also expected to enable customers to increase their productivity and improve profitability in the design and manufacture of advanced semiconductor devices .
purchase price .
the company paid $ 11.0 million in cash for all outstanding shares of hpl .
in addition , the company had a prior investment in hpl of approximately $ 1.9 million .
the total purchase consideration consisted of: ._| | | ( in thousands ) |
|---:|:--------------------------|:-------------------|
| 0 | cash paid | $ 11001 |
| 1 | prior investment in hpl | 1872 |
| 2 | acquisition-related costs | 2831 |
| 3 | total purchase price | $ 15704 |_acquisition-related costs of $ 2.8 million consist primarily of legal , tax and accounting fees of $ 1.6 million , $ 0.3 million of estimated facilities closure costs and other directly related charges , and $ 0.9 million in employee termination costs .
as of october 31 , 2006 , the company had paid $ 2.2 million of the acquisition related costs , of which $ 1.1 million were for professional services costs , $ 0.2 million were for facilities closure costs and $ 0.9 million were for employee termination costs .
the $ 0.6 million balance remaining at october 31 , 2006 consists of professional and tax-related service fees and facilities closure costs .
assets acquired .
the company acquired $ 8.5 million of intangible assets consisting of $ 5.1 million in core developed technology , $ 3.2 million in customer relationships and $ 0.2 million in backlog to be amortized over two to four years .
approximately $ 0.8 million of the purchase price represents the fair value of acquired in-process research and development projects that have not yet reached technological feasibility and have no alternative future use .
accordingly , the amount was immediately expensed and included in the company 2019s condensed consolidated statement of operations for the first quarter of fiscal year 2006 .
additionally , the company acquired tangible assets of $ 14.0 million and assumed liabilities of $ 10.9 million .
goodwill , representing the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired in the merger was $ 3.4 million .
goodwill resulted primarily from the company 2019s expectation of synergies from the integration of hpl 2019s technology with the company 2019s technology and operations .
other .
during the fiscal year 2006 , the company completed an asset acquisition for cash consideration of $ 1.5 million .
this acquisition is not considered material to the company 2019s consolidated balance sheet and results of operations .
fiscal 2005 acquisitions nassda corporation ( nassda ) the company acquired nassda on may 11 , 2005 .
reasons for the acquisition .
the company believes nassda 2019s full-chip circuit simulation and analysis software will broaden its offerings of transistor-level circuit simulation tools , particularly in the area of mixed-signal and memory design .
purchase price .
the company acquired all the outstanding shares of nassda for total cash consideration of $ 200.2 million , or $ 7.00 per share .
in addition , as required by the merger agreement , certain nassda officers , directors and employees who were defendants in certain preexisting litigation .
| 2,006
| 69
|
SNPS
|
Synopsys
|
Information Technology
|
Application Software
|
Sunnyvale, California
|
2017-03-16
| 883,241
|
1986
|
what percentage of the total purchase price is represented by goodwill?
|
22%
|
divide(multiply(3.4, const_1000), 15704)
|
software and will give the company a comprehensive design-to-silicon flow that links directly into the semiconductor manufacturing process .
integrating hpl 2019s yield management and test chip technologies into the company 2019s industry-leading dfm portfolio is also expected to enable customers to increase their productivity and improve profitability in the design and manufacture of advanced semiconductor devices .
purchase price .
the company paid $ 11.0 million in cash for all outstanding shares of hpl .
in addition , the company had a prior investment in hpl of approximately $ 1.9 million .
the total purchase consideration consisted of: .
|
acquisition-related costs of $ 2.8 million consist primarily of legal , tax and accounting fees of $ 1.6 million , $ 0.3 million of estimated facilities closure costs and other directly related charges , and $ 0.9 million in employee termination costs .
as of october 31 , 2006 , the company had paid $ 2.2 million of the acquisition related costs , of which $ 1.1 million were for professional services costs , $ 0.2 million were for facilities closure costs and $ 0.9 million were for employee termination costs .
the $ 0.6 million balance remaining at october 31 , 2006 consists of professional and tax-related service fees and facilities closure costs .
assets acquired .
the company acquired $ 8.5 million of intangible assets consisting of $ 5.1 million in core developed technology , $ 3.2 million in customer relationships and $ 0.2 million in backlog to be amortized over two to four years .
approximately $ 0.8 million of the purchase price represents the fair value of acquired in-process research and development projects that have not yet reached technological feasibility and have no alternative future use .
accordingly , the amount was immediately expensed and included in the company 2019s condensed consolidated statement of operations for the first quarter of fiscal year 2006 .
additionally , the company acquired tangible assets of $ 14.0 million and assumed liabilities of $ 10.9 million .
goodwill , representing the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired in the merger was $ 3.4 million .
goodwill resulted primarily from the company 2019s expectation of synergies from the integration of hpl 2019s technology with the company 2019s technology and operations .
other .
during the fiscal year 2006 , the company completed an asset acquisition for cash consideration of $ 1.5 million .
this acquisition is not considered material to the company 2019s consolidated balance sheet and results of operations .
fiscal 2005 acquisitions nassda corporation ( nassda ) the company acquired nassda on may 11 , 2005 .
reasons for the acquisition .
the company believes nassda 2019s full-chip circuit simulation and analysis software will broaden its offerings of transistor-level circuit simulation tools , particularly in the area of mixed-signal and memory design .
purchase price .
the company acquired all the outstanding shares of nassda for total cash consideration of $ 200.2 million , or $ 7.00 per share .
in addition , as required by the merger agreement , certain nassda officers , directors and employees who were defendants in certain preexisting litigation .
|
| | | ( in thousands ) |
|---:|:--------------------------|:-------------------|
| 0 | cash paid | $ 11001 |
| 1 | prior investment in hpl | 1872 |
| 2 | acquisition-related costs | 2831 |
| 3 | total purchase price | $ 15704 |
|
software and will give the company a comprehensive design-to-silicon flow that links directly into the semiconductor manufacturing process .
integrating hpl 2019s yield management and test chip technologies into the company 2019s industry-leading dfm portfolio is also expected to enable customers to increase their productivity and improve profitability in the design and manufacture of advanced semiconductor devices .
purchase price .
the company paid $ 11.0 million in cash for all outstanding shares of hpl .
in addition , the company had a prior investment in hpl of approximately $ 1.9 million .
the total purchase consideration consisted of: ._| | | ( in thousands ) |
|---:|:--------------------------|:-------------------|
| 0 | cash paid | $ 11001 |
| 1 | prior investment in hpl | 1872 |
| 2 | acquisition-related costs | 2831 |
| 3 | total purchase price | $ 15704 |_acquisition-related costs of $ 2.8 million consist primarily of legal , tax and accounting fees of $ 1.6 million , $ 0.3 million of estimated facilities closure costs and other directly related charges , and $ 0.9 million in employee termination costs .
as of october 31 , 2006 , the company had paid $ 2.2 million of the acquisition related costs , of which $ 1.1 million were for professional services costs , $ 0.2 million were for facilities closure costs and $ 0.9 million were for employee termination costs .
the $ 0.6 million balance remaining at october 31 , 2006 consists of professional and tax-related service fees and facilities closure costs .
assets acquired .
the company acquired $ 8.5 million of intangible assets consisting of $ 5.1 million in core developed technology , $ 3.2 million in customer relationships and $ 0.2 million in backlog to be amortized over two to four years .
approximately $ 0.8 million of the purchase price represents the fair value of acquired in-process research and development projects that have not yet reached technological feasibility and have no alternative future use .
accordingly , the amount was immediately expensed and included in the company 2019s condensed consolidated statement of operations for the first quarter of fiscal year 2006 .
additionally , the company acquired tangible assets of $ 14.0 million and assumed liabilities of $ 10.9 million .
goodwill , representing the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired in the merger was $ 3.4 million .
goodwill resulted primarily from the company 2019s expectation of synergies from the integration of hpl 2019s technology with the company 2019s technology and operations .
other .
during the fiscal year 2006 , the company completed an asset acquisition for cash consideration of $ 1.5 million .
this acquisition is not considered material to the company 2019s consolidated balance sheet and results of operations .
fiscal 2005 acquisitions nassda corporation ( nassda ) the company acquired nassda on may 11 , 2005 .
reasons for the acquisition .
the company believes nassda 2019s full-chip circuit simulation and analysis software will broaden its offerings of transistor-level circuit simulation tools , particularly in the area of mixed-signal and memory design .
purchase price .
the company acquired all the outstanding shares of nassda for total cash consideration of $ 200.2 million , or $ 7.00 per share .
in addition , as required by the merger agreement , certain nassda officers , directors and employees who were defendants in certain preexisting litigation .
| 2,006
| 69
|
SNPS
|
Synopsys
|
Information Technology
|
Application Software
|
Sunnyvale, California
|
2017-03-16
| 883,241
|
1986
| null | null |
finqa51
|
what was the percentage change of our accrued trade liabilities in 2019 compared to 2018
|
-3.2%
|
subtract(484, 500)
|
the following table summarizes our future estimated cash payments under existing contractual obligations , including payments due by period: .
|
( a ) amounts represent the expected cash payments of our long-term debt and do not include $ 0.3 million for capital leases or $ 72.0 million for net unamortized debt issuance costs , premiums and discounts , and fair value adjustments .
( b ) operating leases represents the minimum rental commitments under non-cancelable operating leases .
( c ) the majority of the purchase obligations represent commitments for raw material and packaging to be utilized in the normal course of business and for consumer marketing spending commitments that support our brands .
for purposes of this table , arrangements are considered purchase obligations if a contract specifies all significant terms , including fixed or minimum quantities to be purchased , a pricing structure , and approximate timing of the transaction .
most arrangements are cancelable without a significant penalty and with short notice ( usually 30 days ) .
any amounts reflected on the consolidated balance sheets as accounts payable and accrued liabilities are excluded from the table above .
( d ) the fair value of our foreign exchange , equity , commodity , and grain derivative contracts with a payable position to the counterparty was $ 17.3 million as of may 26 , 2019 , based on fair market values as of that date .
future changes in market values will impact the amount of cash ultimately paid or received to settle those instruments in the future .
other long-term obligations mainly consist of liabilities for accrued compensation and benefits , including the underfunded status of certain of our defined benefit pension , other postretirement benefit , and postemployment benefit plans , and miscellaneous liabilities .
we expect to pay approximately $ 20 million of benefits from our unfunded postemployment benefit plans and approximately $ 18 million of deferred compensation in fiscal 2020 .
we are unable to reliably estimate the amount of these payments beyond fiscal 2020 .
as of may 26 , 2019 , our total liability for uncertain tax positions and accrued interest and penalties was $ 165.1 million .
significant accounting estimates for a complete description of our significant accounting policies , please see note 2 to the consolidated financial statements in item 8 of this report .
our significant accounting estimates are those that have a meaningful impact on the reporting of our financial condition and results of operations .
these estimates include our accounting for promotional expenditures , valuation of long-lived assets , intangible assets , redeemable interest , stock-based compensation , income taxes , and defined benefit pension , other postretirement benefit , and postemployment benefit plans .
revenue recognition our revenues are reported net of variable consideration and consideration payable to our customers , including trade promotion , consumer coupon redemption and other costs , including estimated allowances for returns , unsalable product , and prompt pay discounts .
trade promotions are recorded using significant judgment of estimated participation and performance levels for offered programs at the time of sale .
differences between estimated expenses and actual costs are recognized as a change in management estimate in a subsequent period .
our accrued trade liabilities were $ 484 million as of may 26 , 2019 , and $ 500 million as of may 27 , 2018 .
because these amounts are significant , if our estimates are inaccurate we would have to make adjustments in subsequent periods that could have a significant effect on our results of operations. .
|
| | in millions | payments due by fiscal year total | payments due by fiscal year 2020 | payments due by fiscal year 2021 -22 | payments due by fiscal year 2023 -24 | payments due by fiscal year 2025 and thereafter |
|---:|:----------------------------------|:------------------------------------|:-----------------------------------|:---------------------------------------|:---------------------------------------|:--------------------------------------------------|
| 0 | long-term debt ( a ) | $ 13093.0 | $ 1396.3 | $ 3338.4 | $ 2810.2 | $ 5548.1 |
| 1 | accrued interest | 92.6 | 92.6 | - | - | - |
| 2 | operating leases ( b ) | 482.6 | 120.0 | 186.7 | 112.9 | 63.0 |
| 3 | capital leases | 0.3 | 0.2 | 0.1 | - | - |
| 4 | purchase obligations ( c ) | 2961.8 | 2605.1 | 321.9 | 27.6 | 7.2 |
| 5 | total contractual obligations | 16630.3 | 4214.2 | 3847.1 | 2950.7 | 5618.3 |
| 6 | other long-term obligations ( d ) | 1302.4 | - | - | - | - |
| 7 | total long-term obligations | $ 17932.7 | $ 4214.2 | $ 3847.1 | $ 2950.7 | $ 5618.3 |
|
the following table summarizes our future estimated cash payments under existing contractual obligations , including payments due by period: ._| | in millions | payments due by fiscal year total | payments due by fiscal year 2020 | payments due by fiscal year 2021 -22 | payments due by fiscal year 2023 -24 | payments due by fiscal year 2025 and thereafter |
|---:|:----------------------------------|:------------------------------------|:-----------------------------------|:---------------------------------------|:---------------------------------------|:--------------------------------------------------|
| 0 | long-term debt ( a ) | $ 13093.0 | $ 1396.3 | $ 3338.4 | $ 2810.2 | $ 5548.1 |
| 1 | accrued interest | 92.6 | 92.6 | - | - | - |
| 2 | operating leases ( b ) | 482.6 | 120.0 | 186.7 | 112.9 | 63.0 |
| 3 | capital leases | 0.3 | 0.2 | 0.1 | - | - |
| 4 | purchase obligations ( c ) | 2961.8 | 2605.1 | 321.9 | 27.6 | 7.2 |
| 5 | total contractual obligations | 16630.3 | 4214.2 | 3847.1 | 2950.7 | 5618.3 |
| 6 | other long-term obligations ( d ) | 1302.4 | - | - | - | - |
| 7 | total long-term obligations | $ 17932.7 | $ 4214.2 | $ 3847.1 | $ 2950.7 | $ 5618.3 |_( a ) amounts represent the expected cash payments of our long-term debt and do not include $ 0.3 million for capital leases or $ 72.0 million for net unamortized debt issuance costs , premiums and discounts , and fair value adjustments .
( b ) operating leases represents the minimum rental commitments under non-cancelable operating leases .
( c ) the majority of the purchase obligations represent commitments for raw material and packaging to be utilized in the normal course of business and for consumer marketing spending commitments that support our brands .
for purposes of this table , arrangements are considered purchase obligations if a contract specifies all significant terms , including fixed or minimum quantities to be purchased , a pricing structure , and approximate timing of the transaction .
most arrangements are cancelable without a significant penalty and with short notice ( usually 30 days ) .
any amounts reflected on the consolidated balance sheets as accounts payable and accrued liabilities are excluded from the table above .
( d ) the fair value of our foreign exchange , equity , commodity , and grain derivative contracts with a payable position to the counterparty was $ 17.3 million as of may 26 , 2019 , based on fair market values as of that date .
future changes in market values will impact the amount of cash ultimately paid or received to settle those instruments in the future .
other long-term obligations mainly consist of liabilities for accrued compensation and benefits , including the underfunded status of certain of our defined benefit pension , other postretirement benefit , and postemployment benefit plans , and miscellaneous liabilities .
we expect to pay approximately $ 20 million of benefits from our unfunded postemployment benefit plans and approximately $ 18 million of deferred compensation in fiscal 2020 .
we are unable to reliably estimate the amount of these payments beyond fiscal 2020 .
as of may 26 , 2019 , our total liability for uncertain tax positions and accrued interest and penalties was $ 165.1 million .
significant accounting estimates for a complete description of our significant accounting policies , please see note 2 to the consolidated financial statements in item 8 of this report .
our significant accounting estimates are those that have a meaningful impact on the reporting of our financial condition and results of operations .
these estimates include our accounting for promotional expenditures , valuation of long-lived assets , intangible assets , redeemable interest , stock-based compensation , income taxes , and defined benefit pension , other postretirement benefit , and postemployment benefit plans .
revenue recognition our revenues are reported net of variable consideration and consideration payable to our customers , including trade promotion , consumer coupon redemption and other costs , including estimated allowances for returns , unsalable product , and prompt pay discounts .
trade promotions are recorded using significant judgment of estimated participation and performance levels for offered programs at the time of sale .
differences between estimated expenses and actual costs are recognized as a change in management estimate in a subsequent period .
our accrued trade liabilities were $ 484 million as of may 26 , 2019 , and $ 500 million as of may 27 , 2018 .
because these amounts are significant , if our estimates are inaccurate we would have to make adjustments in subsequent periods that could have a significant effect on our results of operations. .
| 2,019
| 37
|
GIS
|
General Mills
|
Consumer Staples
|
Packaged Foods & Meats
|
Golden Valley, Minnesota
|
1957-03-04
| 40,704
|
1856
|
what was the percentage change of our accrued trade liabilities in 2019 compared to 2018
|
-3.2%
|
subtract(484, 500)
|
the following table summarizes our future estimated cash payments under existing contractual obligations , including payments due by period: .
|
( a ) amounts represent the expected cash payments of our long-term debt and do not include $ 0.3 million for capital leases or $ 72.0 million for net unamortized debt issuance costs , premiums and discounts , and fair value adjustments .
( b ) operating leases represents the minimum rental commitments under non-cancelable operating leases .
( c ) the majority of the purchase obligations represent commitments for raw material and packaging to be utilized in the normal course of business and for consumer marketing spending commitments that support our brands .
for purposes of this table , arrangements are considered purchase obligations if a contract specifies all significant terms , including fixed or minimum quantities to be purchased , a pricing structure , and approximate timing of the transaction .
most arrangements are cancelable without a significant penalty and with short notice ( usually 30 days ) .
any amounts reflected on the consolidated balance sheets as accounts payable and accrued liabilities are excluded from the table above .
( d ) the fair value of our foreign exchange , equity , commodity , and grain derivative contracts with a payable position to the counterparty was $ 17.3 million as of may 26 , 2019 , based on fair market values as of that date .
future changes in market values will impact the amount of cash ultimately paid or received to settle those instruments in the future .
other long-term obligations mainly consist of liabilities for accrued compensation and benefits , including the underfunded status of certain of our defined benefit pension , other postretirement benefit , and postemployment benefit plans , and miscellaneous liabilities .
we expect to pay approximately $ 20 million of benefits from our unfunded postemployment benefit plans and approximately $ 18 million of deferred compensation in fiscal 2020 .
we are unable to reliably estimate the amount of these payments beyond fiscal 2020 .
as of may 26 , 2019 , our total liability for uncertain tax positions and accrued interest and penalties was $ 165.1 million .
significant accounting estimates for a complete description of our significant accounting policies , please see note 2 to the consolidated financial statements in item 8 of this report .
our significant accounting estimates are those that have a meaningful impact on the reporting of our financial condition and results of operations .
these estimates include our accounting for promotional expenditures , valuation of long-lived assets , intangible assets , redeemable interest , stock-based compensation , income taxes , and defined benefit pension , other postretirement benefit , and postemployment benefit plans .
revenue recognition our revenues are reported net of variable consideration and consideration payable to our customers , including trade promotion , consumer coupon redemption and other costs , including estimated allowances for returns , unsalable product , and prompt pay discounts .
trade promotions are recorded using significant judgment of estimated participation and performance levels for offered programs at the time of sale .
differences between estimated expenses and actual costs are recognized as a change in management estimate in a subsequent period .
our accrued trade liabilities were $ 484 million as of may 26 , 2019 , and $ 500 million as of may 27 , 2018 .
because these amounts are significant , if our estimates are inaccurate we would have to make adjustments in subsequent periods that could have a significant effect on our results of operations. .
|
| | in millions | payments due by fiscal year total | payments due by fiscal year 2020 | payments due by fiscal year 2021 -22 | payments due by fiscal year 2023 -24 | payments due by fiscal year 2025 and thereafter |
|---:|:----------------------------------|:------------------------------------|:-----------------------------------|:---------------------------------------|:---------------------------------------|:--------------------------------------------------|
| 0 | long-term debt ( a ) | $ 13093.0 | $ 1396.3 | $ 3338.4 | $ 2810.2 | $ 5548.1 |
| 1 | accrued interest | 92.6 | 92.6 | - | - | - |
| 2 | operating leases ( b ) | 482.6 | 120.0 | 186.7 | 112.9 | 63.0 |
| 3 | capital leases | 0.3 | 0.2 | 0.1 | - | - |
| 4 | purchase obligations ( c ) | 2961.8 | 2605.1 | 321.9 | 27.6 | 7.2 |
| 5 | total contractual obligations | 16630.3 | 4214.2 | 3847.1 | 2950.7 | 5618.3 |
| 6 | other long-term obligations ( d ) | 1302.4 | - | - | - | - |
| 7 | total long-term obligations | $ 17932.7 | $ 4214.2 | $ 3847.1 | $ 2950.7 | $ 5618.3 |
|
the following table summarizes our future estimated cash payments under existing contractual obligations , including payments due by period: ._| | in millions | payments due by fiscal year total | payments due by fiscal year 2020 | payments due by fiscal year 2021 -22 | payments due by fiscal year 2023 -24 | payments due by fiscal year 2025 and thereafter |
|---:|:----------------------------------|:------------------------------------|:-----------------------------------|:---------------------------------------|:---------------------------------------|:--------------------------------------------------|
| 0 | long-term debt ( a ) | $ 13093.0 | $ 1396.3 | $ 3338.4 | $ 2810.2 | $ 5548.1 |
| 1 | accrued interest | 92.6 | 92.6 | - | - | - |
| 2 | operating leases ( b ) | 482.6 | 120.0 | 186.7 | 112.9 | 63.0 |
| 3 | capital leases | 0.3 | 0.2 | 0.1 | - | - |
| 4 | purchase obligations ( c ) | 2961.8 | 2605.1 | 321.9 | 27.6 | 7.2 |
| 5 | total contractual obligations | 16630.3 | 4214.2 | 3847.1 | 2950.7 | 5618.3 |
| 6 | other long-term obligations ( d ) | 1302.4 | - | - | - | - |
| 7 | total long-term obligations | $ 17932.7 | $ 4214.2 | $ 3847.1 | $ 2950.7 | $ 5618.3 |_( a ) amounts represent the expected cash payments of our long-term debt and do not include $ 0.3 million for capital leases or $ 72.0 million for net unamortized debt issuance costs , premiums and discounts , and fair value adjustments .
( b ) operating leases represents the minimum rental commitments under non-cancelable operating leases .
( c ) the majority of the purchase obligations represent commitments for raw material and packaging to be utilized in the normal course of business and for consumer marketing spending commitments that support our brands .
for purposes of this table , arrangements are considered purchase obligations if a contract specifies all significant terms , including fixed or minimum quantities to be purchased , a pricing structure , and approximate timing of the transaction .
most arrangements are cancelable without a significant penalty and with short notice ( usually 30 days ) .
any amounts reflected on the consolidated balance sheets as accounts payable and accrued liabilities are excluded from the table above .
( d ) the fair value of our foreign exchange , equity , commodity , and grain derivative contracts with a payable position to the counterparty was $ 17.3 million as of may 26 , 2019 , based on fair market values as of that date .
future changes in market values will impact the amount of cash ultimately paid or received to settle those instruments in the future .
other long-term obligations mainly consist of liabilities for accrued compensation and benefits , including the underfunded status of certain of our defined benefit pension , other postretirement benefit , and postemployment benefit plans , and miscellaneous liabilities .
we expect to pay approximately $ 20 million of benefits from our unfunded postemployment benefit plans and approximately $ 18 million of deferred compensation in fiscal 2020 .
we are unable to reliably estimate the amount of these payments beyond fiscal 2020 .
as of may 26 , 2019 , our total liability for uncertain tax positions and accrued interest and penalties was $ 165.1 million .
significant accounting estimates for a complete description of our significant accounting policies , please see note 2 to the consolidated financial statements in item 8 of this report .
our significant accounting estimates are those that have a meaningful impact on the reporting of our financial condition and results of operations .
these estimates include our accounting for promotional expenditures , valuation of long-lived assets , intangible assets , redeemable interest , stock-based compensation , income taxes , and defined benefit pension , other postretirement benefit , and postemployment benefit plans .
revenue recognition our revenues are reported net of variable consideration and consideration payable to our customers , including trade promotion , consumer coupon redemption and other costs , including estimated allowances for returns , unsalable product , and prompt pay discounts .
trade promotions are recorded using significant judgment of estimated participation and performance levels for offered programs at the time of sale .
differences between estimated expenses and actual costs are recognized as a change in management estimate in a subsequent period .
our accrued trade liabilities were $ 484 million as of may 26 , 2019 , and $ 500 million as of may 27 , 2018 .
because these amounts are significant , if our estimates are inaccurate we would have to make adjustments in subsequent periods that could have a significant effect on our results of operations. .
| 2,019
| 37
|
GIS
|
General Mills
|
Consumer Staples
|
Packaged Foods & Meats
|
Golden Valley, Minnesota
|
1957-03-04
| 40,704
|
1856
| null | null |
finqa52
|
what was the net change in ending available for sale investment securities from 2017 to 2018?
|
28434
|
subtract(228681, 200247)
|
management 2019s discussion and analysis 78 jpmorgan chase & co./2018 form 10-k treasury and cio overview treasury and cio is predominantly responsible for measuring , monitoring , reporting and managing the firm 2019s liquidity , funding , capital , structural interest rate and foreign exchange risks .
the risks managed by treasury and cio arise from the activities undertaken by the firm 2019s four major reportable business segments to serve their respective client bases , which generate both on- and off- balance sheet assets and liabilities .
treasury and cio seek to achieve the firm 2019s asset-liability management objectives generally by investing in high- quality securities that are managed for the longer-term as part of the firm 2019s investment securities portfolio .
treasury and cio also use derivatives to meet the firm 2019s asset- liability management objectives .
for further information on derivatives , refer to note 5 .
in addition , treasury and cio manage the firm 2019s cash position primarily through depositing at central banks and investing in short-term instruments .
for further information on liquidity and funding risk , refer to liquidity risk management on pages 95 2013100 .
for information on interest rate , foreign exchange and other risks , refer to market risk management on pages 124 2013131 .
the investment securities portfolio primarily consists of agency and nonagency mortgage-backed securities , u.s .
and non-u.s .
government securities , obligations of u.s .
states and municipalities , other abs and corporate debt securities .
at december 31 , 2018 , the investment securities portfolio was $ 260.1 billion , and the average credit rating of the securities comprising the portfolio was aa+ ( based upon external ratings where available and , where not available , based primarily upon internal ratings that correspond to ratings as defined by s&p and moody 2019s ) .
refer to note 10 for further information on the firm 2019s investment securities portfolio .
selected income statement and balance sheet data as of or for the year ended december 31 , ( in millions ) 2018 2017 2016 investment securities gains/ ( losses ) $ ( 395 ) $ ( 78 ) $ 132 available-for-sale ( 201cafs 201d ) investment securities ( average ) 203449 219345 226892 held-to-maturity ( 201chtm 201d ) investment securities ( average ) 31747 47927 51358 investment securities portfolio ( average ) 235197 267272 278250 afs investment securities ( period-end ) 228681 200247 236670 htm investment securities ( period-end ) 31434 47733 50168 investment securities portfolio ( period 2013end ) 260115 247980 286838 as permitted by the new hedge accounting guidance , the firm elected to transfer certain investment securities from htm to afs in the first quarter of 2018 .
for additional information , refer to notes 1 and 10. .
|
management 2019s discussion and analysis 78 jpmorgan chase & co./2018 form 10-k treasury and cio overview treasury and cio is predominantly responsible for measuring , monitoring , reporting and managing the firm 2019s liquidity , funding , capital , structural interest rate and foreign exchange risks .
the risks managed by treasury and cio arise from the activities undertaken by the firm 2019s four major reportable business segments to serve their respective client bases , which generate both on- and off- balance sheet assets and liabilities .
treasury and cio seek to achieve the firm 2019s asset-liability management objectives generally by investing in high- quality securities that are managed for the longer-term as part of the firm 2019s investment securities portfolio .
treasury and cio also use derivatives to meet the firm 2019s asset- liability management objectives .
for further information on derivatives , refer to note 5 .
in addition , treasury and cio manage the firm 2019s cash position primarily through depositing at central banks and investing in short-term instruments .
for further information on liquidity and funding risk , refer to liquidity risk management on pages 95 2013100 .
for information on interest rate , foreign exchange and other risks , refer to market risk management on pages 124 2013131 .
the investment securities portfolio primarily consists of agency and nonagency mortgage-backed securities , u.s .
and non-u.s .
government securities , obligations of u.s .
states and municipalities , other abs and corporate debt securities .
at december 31 , 2018 , the investment securities portfolio was $ 260.1 billion , and the average credit rating of the securities comprising the portfolio was aa+ ( based upon external ratings where available and , where not available , based primarily upon internal ratings that correspond to ratings as defined by s&p and moody 2019s ) .
refer to note 10 for further information on the firm 2019s investment securities portfolio .
selected income statement and balance sheet data as of or for the year ended december 31 , ( in millions ) 2018 2017 2016 investment securities gains/ ( losses ) $ ( 395 ) $ ( 78 ) $ 132 available-for-sale ( 201cafs 201d ) investment securities ( average ) 203449 219345 226892 held-to-maturity ( 201chtm 201d ) investment securities ( average ) 31747 47927 51358 investment securities portfolio ( average ) 235197 267272 278250 afs investment securities ( period-end ) 228681 200247 236670 htm investment securities ( period-end ) 31434 47733 50168 investment securities portfolio ( period 2013end ) 260115 247980 286838 as permitted by the new hedge accounting guidance , the firm elected to transfer certain investment securities from htm to afs in the first quarter of 2018 .
for additional information , refer to notes 1 and 10. .
|
| | as of or for the year ended december 31 ( in millions ) | 2018 | 2017 | 2016 |
|---:|:----------------------------------------------------------------------|:---------------|:-------------|:-------|
| 0 | investment securities gains/ ( losses ) | $ -395 ( 395 ) | $ -78 ( 78 ) | $ 132 |
| 1 | available-for-sale ( 201cafs 201d ) investment securities ( average ) | 203449 | 219345 | 226892 |
| 2 | held-to-maturity ( 201chtm 201d ) investment securities ( average ) | 31747 | 47927 | 51358 |
| 3 | investment securities portfolio ( average ) | 235197 | 267272 | 278250 |
| 4 | afs investment securities ( period-end ) | 228681 | 200247 | 236670 |
| 5 | htm investment securities ( period-end ) | 31434 | 47733 | 50168 |
| 6 | investment securities portfolio ( period 2013end ) | 260115 | 247980 | 286838 |
|
management 2019s discussion and analysis 78 jpmorgan chase & co./2018 form 10-k treasury and cio overview treasury and cio is predominantly responsible for measuring , monitoring , reporting and managing the firm 2019s liquidity , funding , capital , structural interest rate and foreign exchange risks .
the risks managed by treasury and cio arise from the activities undertaken by the firm 2019s four major reportable business segments to serve their respective client bases , which generate both on- and off- balance sheet assets and liabilities .
treasury and cio seek to achieve the firm 2019s asset-liability management objectives generally by investing in high- quality securities that are managed for the longer-term as part of the firm 2019s investment securities portfolio .
treasury and cio also use derivatives to meet the firm 2019s asset- liability management objectives .
for further information on derivatives , refer to note 5 .
in addition , treasury and cio manage the firm 2019s cash position primarily through depositing at central banks and investing in short-term instruments .
for further information on liquidity and funding risk , refer to liquidity risk management on pages 95 2013100 .
for information on interest rate , foreign exchange and other risks , refer to market risk management on pages 124 2013131 .
the investment securities portfolio primarily consists of agency and nonagency mortgage-backed securities , u.s .
and non-u.s .
government securities , obligations of u.s .
states and municipalities , other abs and corporate debt securities .
at december 31 , 2018 , the investment securities portfolio was $ 260.1 billion , and the average credit rating of the securities comprising the portfolio was aa+ ( based upon external ratings where available and , where not available , based primarily upon internal ratings that correspond to ratings as defined by s&p and moody 2019s ) .
refer to note 10 for further information on the firm 2019s investment securities portfolio .
selected income statement and balance sheet data as of or for the year ended december 31 , ( in millions ) 2018 2017 2016 investment securities gains/ ( losses ) $ ( 395 ) $ ( 78 ) $ 132 available-for-sale ( 201cafs 201d ) investment securities ( average ) 203449 219345 226892 held-to-maturity ( 201chtm 201d ) investment securities ( average ) 31747 47927 51358 investment securities portfolio ( average ) 235197 267272 278250 afs investment securities ( period-end ) 228681 200247 236670 htm investment securities ( period-end ) 31434 47733 50168 investment securities portfolio ( period 2013end ) 260115 247980 286838 as permitted by the new hedge accounting guidance , the firm elected to transfer certain investment securities from htm to afs in the first quarter of 2018 .
for additional information , refer to notes 1 and 10. ._| | as of or for the year ended december 31 ( in millions ) | 2018 | 2017 | 2016 |
|---:|:----------------------------------------------------------------------|:---------------|:-------------|:-------|
| 0 | investment securities gains/ ( losses ) | $ -395 ( 395 ) | $ -78 ( 78 ) | $ 132 |
| 1 | available-for-sale ( 201cafs 201d ) investment securities ( average ) | 203449 | 219345 | 226892 |
| 2 | held-to-maturity ( 201chtm 201d ) investment securities ( average ) | 31747 | 47927 | 51358 |
| 3 | investment securities portfolio ( average ) | 235197 | 267272 | 278250 |
| 4 | afs investment securities ( period-end ) | 228681 | 200247 | 236670 |
| 5 | htm investment securities ( period-end ) | 31434 | 47733 | 50168 |
| 6 | investment securities portfolio ( period 2013end ) | 260115 | 247980 | 286838 |_management 2019s discussion and analysis 78 jpmorgan chase & co./2018 form 10-k treasury and cio overview treasury and cio is predominantly responsible for measuring , monitoring , reporting and managing the firm 2019s liquidity , funding , capital , structural interest rate and foreign exchange risks .
the risks managed by treasury and cio arise from the activities undertaken by the firm 2019s four major reportable business segments to serve their respective client bases , which generate both on- and off- balance sheet assets and liabilities .
treasury and cio seek to achieve the firm 2019s asset-liability management objectives generally by investing in high- quality securities that are managed for the longer-term as part of the firm 2019s investment securities portfolio .
treasury and cio also use derivatives to meet the firm 2019s asset- liability management objectives .
for further information on derivatives , refer to note 5 .
in addition , treasury and cio manage the firm 2019s cash position primarily through depositing at central banks and investing in short-term instruments .
for further information on liquidity and funding risk , refer to liquidity risk management on pages 95 2013100 .
for information on interest rate , foreign exchange and other risks , refer to market risk management on pages 124 2013131 .
the investment securities portfolio primarily consists of agency and nonagency mortgage-backed securities , u.s .
and non-u.s .
government securities , obligations of u.s .
states and municipalities , other abs and corporate debt securities .
at december 31 , 2018 , the investment securities portfolio was $ 260.1 billion , and the average credit rating of the securities comprising the portfolio was aa+ ( based upon external ratings where available and , where not available , based primarily upon internal ratings that correspond to ratings as defined by s&p and moody 2019s ) .
refer to note 10 for further information on the firm 2019s investment securities portfolio .
selected income statement and balance sheet data as of or for the year ended december 31 , ( in millions ) 2018 2017 2016 investment securities gains/ ( losses ) $ ( 395 ) $ ( 78 ) $ 132 available-for-sale ( 201cafs 201d ) investment securities ( average ) 203449 219345 226892 held-to-maturity ( 201chtm 201d ) investment securities ( average ) 31747 47927 51358 investment securities portfolio ( average ) 235197 267272 278250 afs investment securities ( period-end ) 228681 200247 236670 htm investment securities ( period-end ) 31434 47733 50168 investment securities portfolio ( period 2013end ) 260115 247980 286838 as permitted by the new hedge accounting guidance , the firm elected to transfer certain investment securities from htm to afs in the first quarter of 2018 .
for additional information , refer to notes 1 and 10. .
| 2,018
| 110
|
JPM
|
JPMorgan Chase
|
Financials
|
Diversified Banks
|
New York City, New York
|
1975-06-30
| 19,617
|
2000 (1799 / 1871)
|
what was the net change in ending available for sale investment securities from 2017 to 2018?
|
28434
|
subtract(228681, 200247)
|
management 2019s discussion and analysis 78 jpmorgan chase & co./2018 form 10-k treasury and cio overview treasury and cio is predominantly responsible for measuring , monitoring , reporting and managing the firm 2019s liquidity , funding , capital , structural interest rate and foreign exchange risks .
the risks managed by treasury and cio arise from the activities undertaken by the firm 2019s four major reportable business segments to serve their respective client bases , which generate both on- and off- balance sheet assets and liabilities .
treasury and cio seek to achieve the firm 2019s asset-liability management objectives generally by investing in high- quality securities that are managed for the longer-term as part of the firm 2019s investment securities portfolio .
treasury and cio also use derivatives to meet the firm 2019s asset- liability management objectives .
for further information on derivatives , refer to note 5 .
in addition , treasury and cio manage the firm 2019s cash position primarily through depositing at central banks and investing in short-term instruments .
for further information on liquidity and funding risk , refer to liquidity risk management on pages 95 2013100 .
for information on interest rate , foreign exchange and other risks , refer to market risk management on pages 124 2013131 .
the investment securities portfolio primarily consists of agency and nonagency mortgage-backed securities , u.s .
and non-u.s .
government securities , obligations of u.s .
states and municipalities , other abs and corporate debt securities .
at december 31 , 2018 , the investment securities portfolio was $ 260.1 billion , and the average credit rating of the securities comprising the portfolio was aa+ ( based upon external ratings where available and , where not available , based primarily upon internal ratings that correspond to ratings as defined by s&p and moody 2019s ) .
refer to note 10 for further information on the firm 2019s investment securities portfolio .
selected income statement and balance sheet data as of or for the year ended december 31 , ( in millions ) 2018 2017 2016 investment securities gains/ ( losses ) $ ( 395 ) $ ( 78 ) $ 132 available-for-sale ( 201cafs 201d ) investment securities ( average ) 203449 219345 226892 held-to-maturity ( 201chtm 201d ) investment securities ( average ) 31747 47927 51358 investment securities portfolio ( average ) 235197 267272 278250 afs investment securities ( period-end ) 228681 200247 236670 htm investment securities ( period-end ) 31434 47733 50168 investment securities portfolio ( period 2013end ) 260115 247980 286838 as permitted by the new hedge accounting guidance , the firm elected to transfer certain investment securities from htm to afs in the first quarter of 2018 .
for additional information , refer to notes 1 and 10. .
|
management 2019s discussion and analysis 78 jpmorgan chase & co./2018 form 10-k treasury and cio overview treasury and cio is predominantly responsible for measuring , monitoring , reporting and managing the firm 2019s liquidity , funding , capital , structural interest rate and foreign exchange risks .
the risks managed by treasury and cio arise from the activities undertaken by the firm 2019s four major reportable business segments to serve their respective client bases , which generate both on- and off- balance sheet assets and liabilities .
treasury and cio seek to achieve the firm 2019s asset-liability management objectives generally by investing in high- quality securities that are managed for the longer-term as part of the firm 2019s investment securities portfolio .
treasury and cio also use derivatives to meet the firm 2019s asset- liability management objectives .
for further information on derivatives , refer to note 5 .
in addition , treasury and cio manage the firm 2019s cash position primarily through depositing at central banks and investing in short-term instruments .
for further information on liquidity and funding risk , refer to liquidity risk management on pages 95 2013100 .
for information on interest rate , foreign exchange and other risks , refer to market risk management on pages 124 2013131 .
the investment securities portfolio primarily consists of agency and nonagency mortgage-backed securities , u.s .
and non-u.s .
government securities , obligations of u.s .
states and municipalities , other abs and corporate debt securities .
at december 31 , 2018 , the investment securities portfolio was $ 260.1 billion , and the average credit rating of the securities comprising the portfolio was aa+ ( based upon external ratings where available and , where not available , based primarily upon internal ratings that correspond to ratings as defined by s&p and moody 2019s ) .
refer to note 10 for further information on the firm 2019s investment securities portfolio .
selected income statement and balance sheet data as of or for the year ended december 31 , ( in millions ) 2018 2017 2016 investment securities gains/ ( losses ) $ ( 395 ) $ ( 78 ) $ 132 available-for-sale ( 201cafs 201d ) investment securities ( average ) 203449 219345 226892 held-to-maturity ( 201chtm 201d ) investment securities ( average ) 31747 47927 51358 investment securities portfolio ( average ) 235197 267272 278250 afs investment securities ( period-end ) 228681 200247 236670 htm investment securities ( period-end ) 31434 47733 50168 investment securities portfolio ( period 2013end ) 260115 247980 286838 as permitted by the new hedge accounting guidance , the firm elected to transfer certain investment securities from htm to afs in the first quarter of 2018 .
for additional information , refer to notes 1 and 10. .
|
| | as of or for the year ended december 31 ( in millions ) | 2018 | 2017 | 2016 |
|---:|:----------------------------------------------------------------------|:---------------|:-------------|:-------|
| 0 | investment securities gains/ ( losses ) | $ -395 ( 395 ) | $ -78 ( 78 ) | $ 132 |
| 1 | available-for-sale ( 201cafs 201d ) investment securities ( average ) | 203449 | 219345 | 226892 |
| 2 | held-to-maturity ( 201chtm 201d ) investment securities ( average ) | 31747 | 47927 | 51358 |
| 3 | investment securities portfolio ( average ) | 235197 | 267272 | 278250 |
| 4 | afs investment securities ( period-end ) | 228681 | 200247 | 236670 |
| 5 | htm investment securities ( period-end ) | 31434 | 47733 | 50168 |
| 6 | investment securities portfolio ( period 2013end ) | 260115 | 247980 | 286838 |
|
management 2019s discussion and analysis 78 jpmorgan chase & co./2018 form 10-k treasury and cio overview treasury and cio is predominantly responsible for measuring , monitoring , reporting and managing the firm 2019s liquidity , funding , capital , structural interest rate and foreign exchange risks .
the risks managed by treasury and cio arise from the activities undertaken by the firm 2019s four major reportable business segments to serve their respective client bases , which generate both on- and off- balance sheet assets and liabilities .
treasury and cio seek to achieve the firm 2019s asset-liability management objectives generally by investing in high- quality securities that are managed for the longer-term as part of the firm 2019s investment securities portfolio .
treasury and cio also use derivatives to meet the firm 2019s asset- liability management objectives .
for further information on derivatives , refer to note 5 .
in addition , treasury and cio manage the firm 2019s cash position primarily through depositing at central banks and investing in short-term instruments .
for further information on liquidity and funding risk , refer to liquidity risk management on pages 95 2013100 .
for information on interest rate , foreign exchange and other risks , refer to market risk management on pages 124 2013131 .
the investment securities portfolio primarily consists of agency and nonagency mortgage-backed securities , u.s .
and non-u.s .
government securities , obligations of u.s .
states and municipalities , other abs and corporate debt securities .
at december 31 , 2018 , the investment securities portfolio was $ 260.1 billion , and the average credit rating of the securities comprising the portfolio was aa+ ( based upon external ratings where available and , where not available , based primarily upon internal ratings that correspond to ratings as defined by s&p and moody 2019s ) .
refer to note 10 for further information on the firm 2019s investment securities portfolio .
selected income statement and balance sheet data as of or for the year ended december 31 , ( in millions ) 2018 2017 2016 investment securities gains/ ( losses ) $ ( 395 ) $ ( 78 ) $ 132 available-for-sale ( 201cafs 201d ) investment securities ( average ) 203449 219345 226892 held-to-maturity ( 201chtm 201d ) investment securities ( average ) 31747 47927 51358 investment securities portfolio ( average ) 235197 267272 278250 afs investment securities ( period-end ) 228681 200247 236670 htm investment securities ( period-end ) 31434 47733 50168 investment securities portfolio ( period 2013end ) 260115 247980 286838 as permitted by the new hedge accounting guidance , the firm elected to transfer certain investment securities from htm to afs in the first quarter of 2018 .
for additional information , refer to notes 1 and 10. ._| | as of or for the year ended december 31 ( in millions ) | 2018 | 2017 | 2016 |
|---:|:----------------------------------------------------------------------|:---------------|:-------------|:-------|
| 0 | investment securities gains/ ( losses ) | $ -395 ( 395 ) | $ -78 ( 78 ) | $ 132 |
| 1 | available-for-sale ( 201cafs 201d ) investment securities ( average ) | 203449 | 219345 | 226892 |
| 2 | held-to-maturity ( 201chtm 201d ) investment securities ( average ) | 31747 | 47927 | 51358 |
| 3 | investment securities portfolio ( average ) | 235197 | 267272 | 278250 |
| 4 | afs investment securities ( period-end ) | 228681 | 200247 | 236670 |
| 5 | htm investment securities ( period-end ) | 31434 | 47733 | 50168 |
| 6 | investment securities portfolio ( period 2013end ) | 260115 | 247980 | 286838 |_management 2019s discussion and analysis 78 jpmorgan chase & co./2018 form 10-k treasury and cio overview treasury and cio is predominantly responsible for measuring , monitoring , reporting and managing the firm 2019s liquidity , funding , capital , structural interest rate and foreign exchange risks .
the risks managed by treasury and cio arise from the activities undertaken by the firm 2019s four major reportable business segments to serve their respective client bases , which generate both on- and off- balance sheet assets and liabilities .
treasury and cio seek to achieve the firm 2019s asset-liability management objectives generally by investing in high- quality securities that are managed for the longer-term as part of the firm 2019s investment securities portfolio .
treasury and cio also use derivatives to meet the firm 2019s asset- liability management objectives .
for further information on derivatives , refer to note 5 .
in addition , treasury and cio manage the firm 2019s cash position primarily through depositing at central banks and investing in short-term instruments .
for further information on liquidity and funding risk , refer to liquidity risk management on pages 95 2013100 .
for information on interest rate , foreign exchange and other risks , refer to market risk management on pages 124 2013131 .
the investment securities portfolio primarily consists of agency and nonagency mortgage-backed securities , u.s .
and non-u.s .
government securities , obligations of u.s .
states and municipalities , other abs and corporate debt securities .
at december 31 , 2018 , the investment securities portfolio was $ 260.1 billion , and the average credit rating of the securities comprising the portfolio was aa+ ( based upon external ratings where available and , where not available , based primarily upon internal ratings that correspond to ratings as defined by s&p and moody 2019s ) .
refer to note 10 for further information on the firm 2019s investment securities portfolio .
selected income statement and balance sheet data as of or for the year ended december 31 , ( in millions ) 2018 2017 2016 investment securities gains/ ( losses ) $ ( 395 ) $ ( 78 ) $ 132 available-for-sale ( 201cafs 201d ) investment securities ( average ) 203449 219345 226892 held-to-maturity ( 201chtm 201d ) investment securities ( average ) 31747 47927 51358 investment securities portfolio ( average ) 235197 267272 278250 afs investment securities ( period-end ) 228681 200247 236670 htm investment securities ( period-end ) 31434 47733 50168 investment securities portfolio ( period 2013end ) 260115 247980 286838 as permitted by the new hedge accounting guidance , the firm elected to transfer certain investment securities from htm to afs in the first quarter of 2018 .
for additional information , refer to notes 1 and 10. .
| 2,018
| 110
|
JPM
|
JPMorgan Chase
|
Financials
|
Diversified Banks
|
New York City, New York
|
1975-06-30
| 19,617
|
2000 (1799 / 1871)
| null | null |
finqa53
|
what percent higher is the average var for foreign exchange products than that of interest rate products?
|
44%
|
divide(add(1.1, 1.4), const_2)
|
the following table presents var with respect to our trading activities , as measured by our var methodology for the periods indicated : value-at-risk .
|
we back-test the estimated one-day var on a daily basis .
this information is reviewed and used to confirm that all relevant trading positions are properly modeled .
for the years ended december 31 , 2008 and 2007 , we did not experience any actual trading losses in excess of our end-of-day var estimate .
asset and liability management activities the primary objective of asset and liability management is to provide sustainable and growing net interest revenue , or nir , under varying economic environments , while protecting the economic values of our balance sheet assets and liabilities from the adverse effects of changes in interest rates .
most of our nir is earned from the investment of deposits generated by our core investment servicing and investment management businesses .
we structure our balance sheet assets to generally conform to the characteristics of our balance sheet liabilities , but we manage our overall interest-rate risk position in the context of current and anticipated market conditions and within internally-approved risk guidelines .
our overall interest-rate risk position is maintained within a series of policies approved by the board and guidelines established and monitored by alco .
our global treasury group has responsibility for managing state street 2019s day-to-day interest-rate risk .
to effectively manage the consolidated balance sheet and related nir , global treasury has the authority to take a limited amount of interest-rate risk based on market conditions and its views about the direction of global interest rates over both short-term and long-term time horizons .
global treasury manages our exposure to changes in interest rates on a consolidated basis organized into three regional treasury units , north america , europe and asia/pacific , to reflect the growing , global nature of our exposures and to capture the impact of change in regional market environments on our total risk position .
our investment activities and our use of derivative financial instruments are the primary tools used in managing interest-rate risk .
we invest in financial instruments with currency , repricing , and maturity characteristics we consider appropriate to manage our overall interest-rate risk position .
in addition to on-balance sheet assets , we use certain derivatives , primarily interest-rate swaps , to alter the interest-rate characteristics of specific balance sheet assets or liabilities .
the use of derivatives is subject to alco-approved guidelines .
additional information about our use of derivatives is in note 17 of the notes to consolidated financial statements included in this form 10-k under item 8 .
as a result of growth in our non-u.s .
operations , non-u.s .
dollar denominated customer liabilities are a significant portion of our consolidated balance sheet .
this growth results in exposure to changes in the shape and level of non-u.s .
dollar yield curves , which we include in our consolidated interest-rate risk management process .
because no one individual measure can accurately assess all of our exposures to changes in interest rates , we use several quantitative measures in our assessment of current and potential future exposures to changes in interest rates and their impact on net interest revenue and balance sheet values .
net interest revenue simulation is the primary tool used in our evaluation of the potential range of possible net interest revenue results that could occur under a variety of interest-rate environments .
we also use market valuation and duration analysis to assess changes in the economic value of balance sheet assets and liabilities caused by assumed changes in interest rates .
finally , gap analysis 2014the difference between the amount of balance sheet assets and liabilities re-pricing within a specified time period 2014is used as a measurement of our interest-rate risk position. .
|
| | years ended december 31 ( inmillions ) | 2008 annual average | 2008 maximum | 2008 minimum | 2008 annual average | 2008 maximum | minimum |
|---:|:-----------------------------------------|:----------------------|:---------------|:---------------|:----------------------|:---------------|:----------|
| 0 | foreign exchange products | $ 1.8 | $ 4.7 | $ .3 | $ 1.8 | $ 4.0 | $ .7 |
| 1 | interest-rate products | 1.1 | 2.4 | .6 | 1.4 | 3.7 | .1 |
|
the following table presents var with respect to our trading activities , as measured by our var methodology for the periods indicated : value-at-risk ._| | years ended december 31 ( inmillions ) | 2008 annual average | 2008 maximum | 2008 minimum | 2008 annual average | 2008 maximum | minimum |
|---:|:-----------------------------------------|:----------------------|:---------------|:---------------|:----------------------|:---------------|:----------|
| 0 | foreign exchange products | $ 1.8 | $ 4.7 | $ .3 | $ 1.8 | $ 4.0 | $ .7 |
| 1 | interest-rate products | 1.1 | 2.4 | .6 | 1.4 | 3.7 | .1 |_we back-test the estimated one-day var on a daily basis .
this information is reviewed and used to confirm that all relevant trading positions are properly modeled .
for the years ended december 31 , 2008 and 2007 , we did not experience any actual trading losses in excess of our end-of-day var estimate .
asset and liability management activities the primary objective of asset and liability management is to provide sustainable and growing net interest revenue , or nir , under varying economic environments , while protecting the economic values of our balance sheet assets and liabilities from the adverse effects of changes in interest rates .
most of our nir is earned from the investment of deposits generated by our core investment servicing and investment management businesses .
we structure our balance sheet assets to generally conform to the characteristics of our balance sheet liabilities , but we manage our overall interest-rate risk position in the context of current and anticipated market conditions and within internally-approved risk guidelines .
our overall interest-rate risk position is maintained within a series of policies approved by the board and guidelines established and monitored by alco .
our global treasury group has responsibility for managing state street 2019s day-to-day interest-rate risk .
to effectively manage the consolidated balance sheet and related nir , global treasury has the authority to take a limited amount of interest-rate risk based on market conditions and its views about the direction of global interest rates over both short-term and long-term time horizons .
global treasury manages our exposure to changes in interest rates on a consolidated basis organized into three regional treasury units , north america , europe and asia/pacific , to reflect the growing , global nature of our exposures and to capture the impact of change in regional market environments on our total risk position .
our investment activities and our use of derivative financial instruments are the primary tools used in managing interest-rate risk .
we invest in financial instruments with currency , repricing , and maturity characteristics we consider appropriate to manage our overall interest-rate risk position .
in addition to on-balance sheet assets , we use certain derivatives , primarily interest-rate swaps , to alter the interest-rate characteristics of specific balance sheet assets or liabilities .
the use of derivatives is subject to alco-approved guidelines .
additional information about our use of derivatives is in note 17 of the notes to consolidated financial statements included in this form 10-k under item 8 .
as a result of growth in our non-u.s .
operations , non-u.s .
dollar denominated customer liabilities are a significant portion of our consolidated balance sheet .
this growth results in exposure to changes in the shape and level of non-u.s .
dollar yield curves , which we include in our consolidated interest-rate risk management process .
because no one individual measure can accurately assess all of our exposures to changes in interest rates , we use several quantitative measures in our assessment of current and potential future exposures to changes in interest rates and their impact on net interest revenue and balance sheet values .
net interest revenue simulation is the primary tool used in our evaluation of the potential range of possible net interest revenue results that could occur under a variety of interest-rate environments .
we also use market valuation and duration analysis to assess changes in the economic value of balance sheet assets and liabilities caused by assumed changes in interest rates .
finally , gap analysis 2014the difference between the amount of balance sheet assets and liabilities re-pricing within a specified time period 2014is used as a measurement of our interest-rate risk position. .
| 2,008
| 83
|
STT
|
State Street Corporation
|
Financials
|
Asset Management & Custody Banks
|
Boston, Massachusetts
|
2003-03-14
| 93,751
|
1792
|
what percent higher is the average var for foreign exchange products than that of interest rate products?
|
44%
|
divide(add(1.1, 1.4), const_2)
|
the following table presents var with respect to our trading activities , as measured by our var methodology for the periods indicated : value-at-risk .
|
we back-test the estimated one-day var on a daily basis .
this information is reviewed and used to confirm that all relevant trading positions are properly modeled .
for the years ended december 31 , 2008 and 2007 , we did not experience any actual trading losses in excess of our end-of-day var estimate .
asset and liability management activities the primary objective of asset and liability management is to provide sustainable and growing net interest revenue , or nir , under varying economic environments , while protecting the economic values of our balance sheet assets and liabilities from the adverse effects of changes in interest rates .
most of our nir is earned from the investment of deposits generated by our core investment servicing and investment management businesses .
we structure our balance sheet assets to generally conform to the characteristics of our balance sheet liabilities , but we manage our overall interest-rate risk position in the context of current and anticipated market conditions and within internally-approved risk guidelines .
our overall interest-rate risk position is maintained within a series of policies approved by the board and guidelines established and monitored by alco .
our global treasury group has responsibility for managing state street 2019s day-to-day interest-rate risk .
to effectively manage the consolidated balance sheet and related nir , global treasury has the authority to take a limited amount of interest-rate risk based on market conditions and its views about the direction of global interest rates over both short-term and long-term time horizons .
global treasury manages our exposure to changes in interest rates on a consolidated basis organized into three regional treasury units , north america , europe and asia/pacific , to reflect the growing , global nature of our exposures and to capture the impact of change in regional market environments on our total risk position .
our investment activities and our use of derivative financial instruments are the primary tools used in managing interest-rate risk .
we invest in financial instruments with currency , repricing , and maturity characteristics we consider appropriate to manage our overall interest-rate risk position .
in addition to on-balance sheet assets , we use certain derivatives , primarily interest-rate swaps , to alter the interest-rate characteristics of specific balance sheet assets or liabilities .
the use of derivatives is subject to alco-approved guidelines .
additional information about our use of derivatives is in note 17 of the notes to consolidated financial statements included in this form 10-k under item 8 .
as a result of growth in our non-u.s .
operations , non-u.s .
dollar denominated customer liabilities are a significant portion of our consolidated balance sheet .
this growth results in exposure to changes in the shape and level of non-u.s .
dollar yield curves , which we include in our consolidated interest-rate risk management process .
because no one individual measure can accurately assess all of our exposures to changes in interest rates , we use several quantitative measures in our assessment of current and potential future exposures to changes in interest rates and their impact on net interest revenue and balance sheet values .
net interest revenue simulation is the primary tool used in our evaluation of the potential range of possible net interest revenue results that could occur under a variety of interest-rate environments .
we also use market valuation and duration analysis to assess changes in the economic value of balance sheet assets and liabilities caused by assumed changes in interest rates .
finally , gap analysis 2014the difference between the amount of balance sheet assets and liabilities re-pricing within a specified time period 2014is used as a measurement of our interest-rate risk position. .
|
| | years ended december 31 ( inmillions ) | 2008 annual average | 2008 maximum | 2008 minimum | 2008 annual average | 2008 maximum | minimum |
|---:|:-----------------------------------------|:----------------------|:---------------|:---------------|:----------------------|:---------------|:----------|
| 0 | foreign exchange products | $ 1.8 | $ 4.7 | $ .3 | $ 1.8 | $ 4.0 | $ .7 |
| 1 | interest-rate products | 1.1 | 2.4 | .6 | 1.4 | 3.7 | .1 |
|
the following table presents var with respect to our trading activities , as measured by our var methodology for the periods indicated : value-at-risk ._| | years ended december 31 ( inmillions ) | 2008 annual average | 2008 maximum | 2008 minimum | 2008 annual average | 2008 maximum | minimum |
|---:|:-----------------------------------------|:----------------------|:---------------|:---------------|:----------------------|:---------------|:----------|
| 0 | foreign exchange products | $ 1.8 | $ 4.7 | $ .3 | $ 1.8 | $ 4.0 | $ .7 |
| 1 | interest-rate products | 1.1 | 2.4 | .6 | 1.4 | 3.7 | .1 |_we back-test the estimated one-day var on a daily basis .
this information is reviewed and used to confirm that all relevant trading positions are properly modeled .
for the years ended december 31 , 2008 and 2007 , we did not experience any actual trading losses in excess of our end-of-day var estimate .
asset and liability management activities the primary objective of asset and liability management is to provide sustainable and growing net interest revenue , or nir , under varying economic environments , while protecting the economic values of our balance sheet assets and liabilities from the adverse effects of changes in interest rates .
most of our nir is earned from the investment of deposits generated by our core investment servicing and investment management businesses .
we structure our balance sheet assets to generally conform to the characteristics of our balance sheet liabilities , but we manage our overall interest-rate risk position in the context of current and anticipated market conditions and within internally-approved risk guidelines .
our overall interest-rate risk position is maintained within a series of policies approved by the board and guidelines established and monitored by alco .
our global treasury group has responsibility for managing state street 2019s day-to-day interest-rate risk .
to effectively manage the consolidated balance sheet and related nir , global treasury has the authority to take a limited amount of interest-rate risk based on market conditions and its views about the direction of global interest rates over both short-term and long-term time horizons .
global treasury manages our exposure to changes in interest rates on a consolidated basis organized into three regional treasury units , north america , europe and asia/pacific , to reflect the growing , global nature of our exposures and to capture the impact of change in regional market environments on our total risk position .
our investment activities and our use of derivative financial instruments are the primary tools used in managing interest-rate risk .
we invest in financial instruments with currency , repricing , and maturity characteristics we consider appropriate to manage our overall interest-rate risk position .
in addition to on-balance sheet assets , we use certain derivatives , primarily interest-rate swaps , to alter the interest-rate characteristics of specific balance sheet assets or liabilities .
the use of derivatives is subject to alco-approved guidelines .
additional information about our use of derivatives is in note 17 of the notes to consolidated financial statements included in this form 10-k under item 8 .
as a result of growth in our non-u.s .
operations , non-u.s .
dollar denominated customer liabilities are a significant portion of our consolidated balance sheet .
this growth results in exposure to changes in the shape and level of non-u.s .
dollar yield curves , which we include in our consolidated interest-rate risk management process .
because no one individual measure can accurately assess all of our exposures to changes in interest rates , we use several quantitative measures in our assessment of current and potential future exposures to changes in interest rates and their impact on net interest revenue and balance sheet values .
net interest revenue simulation is the primary tool used in our evaluation of the potential range of possible net interest revenue results that could occur under a variety of interest-rate environments .
we also use market valuation and duration analysis to assess changes in the economic value of balance sheet assets and liabilities caused by assumed changes in interest rates .
finally , gap analysis 2014the difference between the amount of balance sheet assets and liabilities re-pricing within a specified time period 2014is used as a measurement of our interest-rate risk position. .
| 2,008
| 83
|
STT
|
State Street Corporation
|
Financials
|
Asset Management & Custody Banks
|
Boston, Massachusetts
|
2003-03-14
| 93,751
|
1792
| null | null |
finqa54
|
what was the change in millions of total redeemable stock of subsidiaries from 2015 to 2016?
|
244
|
subtract(782, 538)
|
the aes corporation notes to consolidated financial statements december 31 , 2016 , 2015 , and 2014 the following table summarizes the company's redeemable stock of subsidiaries balances as of the periods indicated ( in millions ) : .
|
_____________________________ ( 1 ) characteristics of quotas are similar to common stock .
colon 2014 during the year ended december 31 , 2016 , our partner in colon increased their ownership from 25% ( 25 % ) to 49.9% ( 49.9 % ) and made capital contributions of $ 106 million .
any subsequent adjustments to allocate earnings and dividends to our partner , or measure the investment at fair value , will be classified as temporary equity each reporting period as it is probable that the shares will become redeemable .
ipl 2014 ipl had $ 60 million of cumulative preferred stock outstanding at december 31 , 2016 and 2015 , which represented five series of preferred stock .
the total annual dividend requirements were approximately $ 3 million at december 31 , 2016 and 2015 .
certain series of the preferred stock were redeemable solely at the option of the issuer at prices between $ 100 and $ 118 per share .
holders of the preferred stock are entitled to elect a majority of ipl's board of directors if ipl has not paid dividends to its preferred stockholders for four consecutive quarters .
based on the preferred stockholders' ability to elect a majority of ipl's board of directors in this circumstance , the redemption of the preferred shares is considered to be not solely within the control of the issuer and the preferred stock is considered temporary equity .
dpl 2014 dpl had $ 18 million of cumulative preferred stock outstanding as of december 31 , 2015 , which represented three series of preferred stock issued by dp&l , a wholly-owned subsidiary of dpl .
the dp&l preferred stock was redeemable at dp&l's option as determined by its board of directors at per-share redemption prices between $ 101 and $ 103 per share , plus cumulative preferred dividends .
in addition , dp&l's amended articles of incorporation contained provisions that permitted preferred stockholders to elect members of the dp&l board of directors in the event that cumulative dividends on the preferred stock are in arrears in an aggregate amount equivalent to at least four full quarterly dividends .
based on the preferred stockholders' ability to elect members of dp&l's board of directors in this circumstance , the redemption of the preferred shares was considered to be not solely within the control of the issuer and the preferred stock was considered temporary equity .
in september 2016 , it became probable that the preferred shares would become redeemable .
as such , the company recorded an adjustment of $ 5 million to retained earnings to adjust the preferred shares to their redemption value of $ 23 million .
in october 2016 , dp&l redeemed all of its preferred shares .
upon redemption , the preferred shares were no longer outstanding and all rights of the holders thereof as shareholders of dp&l ceased to exist .
ipalco 2014 in february 2015 , cdpq purchased 15% ( 15 % ) of aes us investment , inc. , a wholly-owned subsidiary that owns 100% ( 100 % ) of ipalco , for $ 247 million , with an option to invest an additional $ 349 million in ipalco through 2016 in exchange for a 17.65% ( 17.65 % ) equity stake .
in april 2015 , cdpq invested an additional $ 214 million in ipalco , which resulted in cdpq's combined direct and indirect interest in ipalco of 24.90% ( 24.90 % ) .
as a result of these transactions , $ 84 million in taxes and transaction costs were recognized as a net decrease to equity .
the company also recognized an increase to additional paid-in capital and a reduction to retained earnings of 377 million for the excess of the fair value of the shares over their book value .
no gain or loss was recognized in net income as the transaction was not considered to be a sale of in-substance real estate .
in march 2016 , cdpq exercised its remaining option by investing $ 134 million in ipalco , which resulted in cdpq's combined direct and indirect interest in ipalco of 30% ( 30 % ) .
the company also recognized an increase to additional paid-in capital and a reduction to retained earnings of $ 84 million for the excess of the fair value of the shares over their book value .
in june 2016 , cdpq contributed an additional $ 24 million to ipalco , with no impact to the ownership structure of the investment .
any subsequent adjustments to allocate earnings and dividends to cdpq will be classified as nci within permanent equity as it is not probable that the shares will become redeemable. .
|
| | december 31, | 2016 | 2015 |
|---:|:---------------------------------------|:-------|:-------|
| 0 | ipalco common stock | $ 618 | $ 460 |
| 1 | colon quotas ( 1 ) | 100 | 2014 |
| 2 | ipl preferred stock | 60 | 60 |
| 3 | other common stock | 4 | 2014 |
| 4 | dpl preferred stock | 2014 | 18 |
| 5 | total redeemable stock of subsidiaries | $ 782 | $ 538 |
|
the aes corporation notes to consolidated financial statements december 31 , 2016 , 2015 , and 2014 the following table summarizes the company's redeemable stock of subsidiaries balances as of the periods indicated ( in millions ) : ._| | december 31, | 2016 | 2015 |
|---:|:---------------------------------------|:-------|:-------|
| 0 | ipalco common stock | $ 618 | $ 460 |
| 1 | colon quotas ( 1 ) | 100 | 2014 |
| 2 | ipl preferred stock | 60 | 60 |
| 3 | other common stock | 4 | 2014 |
| 4 | dpl preferred stock | 2014 | 18 |
| 5 | total redeemable stock of subsidiaries | $ 782 | $ 538 |______________________________ ( 1 ) characteristics of quotas are similar to common stock .
colon 2014 during the year ended december 31 , 2016 , our partner in colon increased their ownership from 25% ( 25 % ) to 49.9% ( 49.9 % ) and made capital contributions of $ 106 million .
any subsequent adjustments to allocate earnings and dividends to our partner , or measure the investment at fair value , will be classified as temporary equity each reporting period as it is probable that the shares will become redeemable .
ipl 2014 ipl had $ 60 million of cumulative preferred stock outstanding at december 31 , 2016 and 2015 , which represented five series of preferred stock .
the total annual dividend requirements were approximately $ 3 million at december 31 , 2016 and 2015 .
certain series of the preferred stock were redeemable solely at the option of the issuer at prices between $ 100 and $ 118 per share .
holders of the preferred stock are entitled to elect a majority of ipl's board of directors if ipl has not paid dividends to its preferred stockholders for four consecutive quarters .
based on the preferred stockholders' ability to elect a majority of ipl's board of directors in this circumstance , the redemption of the preferred shares is considered to be not solely within the control of the issuer and the preferred stock is considered temporary equity .
dpl 2014 dpl had $ 18 million of cumulative preferred stock outstanding as of december 31 , 2015 , which represented three series of preferred stock issued by dp&l , a wholly-owned subsidiary of dpl .
the dp&l preferred stock was redeemable at dp&l's option as determined by its board of directors at per-share redemption prices between $ 101 and $ 103 per share , plus cumulative preferred dividends .
in addition , dp&l's amended articles of incorporation contained provisions that permitted preferred stockholders to elect members of the dp&l board of directors in the event that cumulative dividends on the preferred stock are in arrears in an aggregate amount equivalent to at least four full quarterly dividends .
based on the preferred stockholders' ability to elect members of dp&l's board of directors in this circumstance , the redemption of the preferred shares was considered to be not solely within the control of the issuer and the preferred stock was considered temporary equity .
in september 2016 , it became probable that the preferred shares would become redeemable .
as such , the company recorded an adjustment of $ 5 million to retained earnings to adjust the preferred shares to their redemption value of $ 23 million .
in october 2016 , dp&l redeemed all of its preferred shares .
upon redemption , the preferred shares were no longer outstanding and all rights of the holders thereof as shareholders of dp&l ceased to exist .
ipalco 2014 in february 2015 , cdpq purchased 15% ( 15 % ) of aes us investment , inc. , a wholly-owned subsidiary that owns 100% ( 100 % ) of ipalco , for $ 247 million , with an option to invest an additional $ 349 million in ipalco through 2016 in exchange for a 17.65% ( 17.65 % ) equity stake .
in april 2015 , cdpq invested an additional $ 214 million in ipalco , which resulted in cdpq's combined direct and indirect interest in ipalco of 24.90% ( 24.90 % ) .
as a result of these transactions , $ 84 million in taxes and transaction costs were recognized as a net decrease to equity .
the company also recognized an increase to additional paid-in capital and a reduction to retained earnings of 377 million for the excess of the fair value of the shares over their book value .
no gain or loss was recognized in net income as the transaction was not considered to be a sale of in-substance real estate .
in march 2016 , cdpq exercised its remaining option by investing $ 134 million in ipalco , which resulted in cdpq's combined direct and indirect interest in ipalco of 30% ( 30 % ) .
the company also recognized an increase to additional paid-in capital and a reduction to retained earnings of $ 84 million for the excess of the fair value of the shares over their book value .
in june 2016 , cdpq contributed an additional $ 24 million to ipalco , with no impact to the ownership structure of the investment .
any subsequent adjustments to allocate earnings and dividends to cdpq will be classified as nci within permanent equity as it is not probable that the shares will become redeemable. .
| 2,016
| 185
|
AES
|
AES Corporation
|
Utilities
|
Independent Power Producers & Energy Traders
|
Arlington, Virginia
|
1998-10-02
| 874,761
|
1981
|
what was the change in millions of total redeemable stock of subsidiaries from 2015 to 2016?
|
244
|
subtract(782, 538)
|
the aes corporation notes to consolidated financial statements december 31 , 2016 , 2015 , and 2014 the following table summarizes the company's redeemable stock of subsidiaries balances as of the periods indicated ( in millions ) : .
|
_____________________________ ( 1 ) characteristics of quotas are similar to common stock .
colon 2014 during the year ended december 31 , 2016 , our partner in colon increased their ownership from 25% ( 25 % ) to 49.9% ( 49.9 % ) and made capital contributions of $ 106 million .
any subsequent adjustments to allocate earnings and dividends to our partner , or measure the investment at fair value , will be classified as temporary equity each reporting period as it is probable that the shares will become redeemable .
ipl 2014 ipl had $ 60 million of cumulative preferred stock outstanding at december 31 , 2016 and 2015 , which represented five series of preferred stock .
the total annual dividend requirements were approximately $ 3 million at december 31 , 2016 and 2015 .
certain series of the preferred stock were redeemable solely at the option of the issuer at prices between $ 100 and $ 118 per share .
holders of the preferred stock are entitled to elect a majority of ipl's board of directors if ipl has not paid dividends to its preferred stockholders for four consecutive quarters .
based on the preferred stockholders' ability to elect a majority of ipl's board of directors in this circumstance , the redemption of the preferred shares is considered to be not solely within the control of the issuer and the preferred stock is considered temporary equity .
dpl 2014 dpl had $ 18 million of cumulative preferred stock outstanding as of december 31 , 2015 , which represented three series of preferred stock issued by dp&l , a wholly-owned subsidiary of dpl .
the dp&l preferred stock was redeemable at dp&l's option as determined by its board of directors at per-share redemption prices between $ 101 and $ 103 per share , plus cumulative preferred dividends .
in addition , dp&l's amended articles of incorporation contained provisions that permitted preferred stockholders to elect members of the dp&l board of directors in the event that cumulative dividends on the preferred stock are in arrears in an aggregate amount equivalent to at least four full quarterly dividends .
based on the preferred stockholders' ability to elect members of dp&l's board of directors in this circumstance , the redemption of the preferred shares was considered to be not solely within the control of the issuer and the preferred stock was considered temporary equity .
in september 2016 , it became probable that the preferred shares would become redeemable .
as such , the company recorded an adjustment of $ 5 million to retained earnings to adjust the preferred shares to their redemption value of $ 23 million .
in october 2016 , dp&l redeemed all of its preferred shares .
upon redemption , the preferred shares were no longer outstanding and all rights of the holders thereof as shareholders of dp&l ceased to exist .
ipalco 2014 in february 2015 , cdpq purchased 15% ( 15 % ) of aes us investment , inc. , a wholly-owned subsidiary that owns 100% ( 100 % ) of ipalco , for $ 247 million , with an option to invest an additional $ 349 million in ipalco through 2016 in exchange for a 17.65% ( 17.65 % ) equity stake .
in april 2015 , cdpq invested an additional $ 214 million in ipalco , which resulted in cdpq's combined direct and indirect interest in ipalco of 24.90% ( 24.90 % ) .
as a result of these transactions , $ 84 million in taxes and transaction costs were recognized as a net decrease to equity .
the company also recognized an increase to additional paid-in capital and a reduction to retained earnings of 377 million for the excess of the fair value of the shares over their book value .
no gain or loss was recognized in net income as the transaction was not considered to be a sale of in-substance real estate .
in march 2016 , cdpq exercised its remaining option by investing $ 134 million in ipalco , which resulted in cdpq's combined direct and indirect interest in ipalco of 30% ( 30 % ) .
the company also recognized an increase to additional paid-in capital and a reduction to retained earnings of $ 84 million for the excess of the fair value of the shares over their book value .
in june 2016 , cdpq contributed an additional $ 24 million to ipalco , with no impact to the ownership structure of the investment .
any subsequent adjustments to allocate earnings and dividends to cdpq will be classified as nci within permanent equity as it is not probable that the shares will become redeemable. .
|
| | december 31, | 2016 | 2015 |
|---:|:---------------------------------------|:-------|:-------|
| 0 | ipalco common stock | $ 618 | $ 460 |
| 1 | colon quotas ( 1 ) | 100 | 2014 |
| 2 | ipl preferred stock | 60 | 60 |
| 3 | other common stock | 4 | 2014 |
| 4 | dpl preferred stock | 2014 | 18 |
| 5 | total redeemable stock of subsidiaries | $ 782 | $ 538 |
|
the aes corporation notes to consolidated financial statements december 31 , 2016 , 2015 , and 2014 the following table summarizes the company's redeemable stock of subsidiaries balances as of the periods indicated ( in millions ) : ._| | december 31, | 2016 | 2015 |
|---:|:---------------------------------------|:-------|:-------|
| 0 | ipalco common stock | $ 618 | $ 460 |
| 1 | colon quotas ( 1 ) | 100 | 2014 |
| 2 | ipl preferred stock | 60 | 60 |
| 3 | other common stock | 4 | 2014 |
| 4 | dpl preferred stock | 2014 | 18 |
| 5 | total redeemable stock of subsidiaries | $ 782 | $ 538 |______________________________ ( 1 ) characteristics of quotas are similar to common stock .
colon 2014 during the year ended december 31 , 2016 , our partner in colon increased their ownership from 25% ( 25 % ) to 49.9% ( 49.9 % ) and made capital contributions of $ 106 million .
any subsequent adjustments to allocate earnings and dividends to our partner , or measure the investment at fair value , will be classified as temporary equity each reporting period as it is probable that the shares will become redeemable .
ipl 2014 ipl had $ 60 million of cumulative preferred stock outstanding at december 31 , 2016 and 2015 , which represented five series of preferred stock .
the total annual dividend requirements were approximately $ 3 million at december 31 , 2016 and 2015 .
certain series of the preferred stock were redeemable solely at the option of the issuer at prices between $ 100 and $ 118 per share .
holders of the preferred stock are entitled to elect a majority of ipl's board of directors if ipl has not paid dividends to its preferred stockholders for four consecutive quarters .
based on the preferred stockholders' ability to elect a majority of ipl's board of directors in this circumstance , the redemption of the preferred shares is considered to be not solely within the control of the issuer and the preferred stock is considered temporary equity .
dpl 2014 dpl had $ 18 million of cumulative preferred stock outstanding as of december 31 , 2015 , which represented three series of preferred stock issued by dp&l , a wholly-owned subsidiary of dpl .
the dp&l preferred stock was redeemable at dp&l's option as determined by its board of directors at per-share redemption prices between $ 101 and $ 103 per share , plus cumulative preferred dividends .
in addition , dp&l's amended articles of incorporation contained provisions that permitted preferred stockholders to elect members of the dp&l board of directors in the event that cumulative dividends on the preferred stock are in arrears in an aggregate amount equivalent to at least four full quarterly dividends .
based on the preferred stockholders' ability to elect members of dp&l's board of directors in this circumstance , the redemption of the preferred shares was considered to be not solely within the control of the issuer and the preferred stock was considered temporary equity .
in september 2016 , it became probable that the preferred shares would become redeemable .
as such , the company recorded an adjustment of $ 5 million to retained earnings to adjust the preferred shares to their redemption value of $ 23 million .
in october 2016 , dp&l redeemed all of its preferred shares .
upon redemption , the preferred shares were no longer outstanding and all rights of the holders thereof as shareholders of dp&l ceased to exist .
ipalco 2014 in february 2015 , cdpq purchased 15% ( 15 % ) of aes us investment , inc. , a wholly-owned subsidiary that owns 100% ( 100 % ) of ipalco , for $ 247 million , with an option to invest an additional $ 349 million in ipalco through 2016 in exchange for a 17.65% ( 17.65 % ) equity stake .
in april 2015 , cdpq invested an additional $ 214 million in ipalco , which resulted in cdpq's combined direct and indirect interest in ipalco of 24.90% ( 24.90 % ) .
as a result of these transactions , $ 84 million in taxes and transaction costs were recognized as a net decrease to equity .
the company also recognized an increase to additional paid-in capital and a reduction to retained earnings of 377 million for the excess of the fair value of the shares over their book value .
no gain or loss was recognized in net income as the transaction was not considered to be a sale of in-substance real estate .
in march 2016 , cdpq exercised its remaining option by investing $ 134 million in ipalco , which resulted in cdpq's combined direct and indirect interest in ipalco of 30% ( 30 % ) .
the company also recognized an increase to additional paid-in capital and a reduction to retained earnings of $ 84 million for the excess of the fair value of the shares over their book value .
in june 2016 , cdpq contributed an additional $ 24 million to ipalco , with no impact to the ownership structure of the investment .
any subsequent adjustments to allocate earnings and dividends to cdpq will be classified as nci within permanent equity as it is not probable that the shares will become redeemable. .
| 2,016
| 185
|
AES
|
AES Corporation
|
Utilities
|
Independent Power Producers & Energy Traders
|
Arlington, Virginia
|
1998-10-02
| 874,761
|
1981
| null | null |
finqa55
|
what is the roi of nasdaq composite from 2008 to 2009?
|
-41.0%
|
divide(subtract(59.03, const_100), const_1000)
|
stockholder return performance graphs the following graph compares the cumulative 5-year total stockholder return on our common stock relative to the cumulative total return of the nasdaq composite index and the s&p 400 information technology index .
the graph assumes that the value of the investment in our common stock and in each index ( including reinvestment of dividends ) was $ 100 on december 29 , 2007 and tracks it through december 29 , 2012 .
comparison of 5 year cumulative total return* among cadence design systems , inc. , the nasdaq composite index , and s&p 400 information technology cadence design systems , inc .
nasdaq composite s&p 400 information technology 12/29/1212/31/111/1/111/2/101/3/0912/29/07 *$ 100 invested on 12/29/07 in stock or 12/31/07 in index , including reinvestment of dividends .
indexes calculated on month-end basis .
copyright a9 2013 s&p , a division of the mcgraw-hill companies inc .
all rights reserved. .
|
the stock price performance included in this graph is not necessarily indicative of future stock price performance .
|
| | | 12/29/2007 | 1/3/2009 | 1/2/2010 | 1/1/2011 | 12/31/2011 | 12/29/2012 |
|---:|:-------------------------------|-------------:|-----------:|-----------:|-----------:|-------------:|-------------:|
| 0 | cadence design systems inc . | 100 | 22.55 | 35.17 | 48.5 | 61.07 | 78.92 |
| 1 | nasdaq composite | 100 | 59.03 | 82.25 | 97.32 | 98.63 | 110.78 |
| 2 | s&p 400 information technology | 100 | 54.6 | 82.76 | 108.11 | 95.48 | 109.88 |
|
stockholder return performance graphs the following graph compares the cumulative 5-year total stockholder return on our common stock relative to the cumulative total return of the nasdaq composite index and the s&p 400 information technology index .
the graph assumes that the value of the investment in our common stock and in each index ( including reinvestment of dividends ) was $ 100 on december 29 , 2007 and tracks it through december 29 , 2012 .
comparison of 5 year cumulative total return* among cadence design systems , inc. , the nasdaq composite index , and s&p 400 information technology cadence design systems , inc .
nasdaq composite s&p 400 information technology 12/29/1212/31/111/1/111/2/101/3/0912/29/07 *$ 100 invested on 12/29/07 in stock or 12/31/07 in index , including reinvestment of dividends .
indexes calculated on month-end basis .
copyright a9 2013 s&p , a division of the mcgraw-hill companies inc .
all rights reserved. ._| | | 12/29/2007 | 1/3/2009 | 1/2/2010 | 1/1/2011 | 12/31/2011 | 12/29/2012 |
|---:|:-------------------------------|-------------:|-----------:|-----------:|-----------:|-------------:|-------------:|
| 0 | cadence design systems inc . | 100 | 22.55 | 35.17 | 48.5 | 61.07 | 78.92 |
| 1 | nasdaq composite | 100 | 59.03 | 82.25 | 97.32 | 98.63 | 110.78 |
| 2 | s&p 400 information technology | 100 | 54.6 | 82.76 | 108.11 | 95.48 | 109.88 |_the stock price performance included in this graph is not necessarily indicative of future stock price performance .
| 2,012
| 30
|
CDNS
|
Cadence Design Systems
|
Information Technology
|
Application Software
|
San Jose, California
|
2017-09-18
| 813,672
|
1988
|
what is the roi of nasdaq composite from 2008 to 2009?
|
-41.0%
|
divide(subtract(59.03, const_100), const_1000)
|
stockholder return performance graphs the following graph compares the cumulative 5-year total stockholder return on our common stock relative to the cumulative total return of the nasdaq composite index and the s&p 400 information technology index .
the graph assumes that the value of the investment in our common stock and in each index ( including reinvestment of dividends ) was $ 100 on december 29 , 2007 and tracks it through december 29 , 2012 .
comparison of 5 year cumulative total return* among cadence design systems , inc. , the nasdaq composite index , and s&p 400 information technology cadence design systems , inc .
nasdaq composite s&p 400 information technology 12/29/1212/31/111/1/111/2/101/3/0912/29/07 *$ 100 invested on 12/29/07 in stock or 12/31/07 in index , including reinvestment of dividends .
indexes calculated on month-end basis .
copyright a9 2013 s&p , a division of the mcgraw-hill companies inc .
all rights reserved. .
|
the stock price performance included in this graph is not necessarily indicative of future stock price performance .
|
| | | 12/29/2007 | 1/3/2009 | 1/2/2010 | 1/1/2011 | 12/31/2011 | 12/29/2012 |
|---:|:-------------------------------|-------------:|-----------:|-----------:|-----------:|-------------:|-------------:|
| 0 | cadence design systems inc . | 100 | 22.55 | 35.17 | 48.5 | 61.07 | 78.92 |
| 1 | nasdaq composite | 100 | 59.03 | 82.25 | 97.32 | 98.63 | 110.78 |
| 2 | s&p 400 information technology | 100 | 54.6 | 82.76 | 108.11 | 95.48 | 109.88 |
|
stockholder return performance graphs the following graph compares the cumulative 5-year total stockholder return on our common stock relative to the cumulative total return of the nasdaq composite index and the s&p 400 information technology index .
the graph assumes that the value of the investment in our common stock and in each index ( including reinvestment of dividends ) was $ 100 on december 29 , 2007 and tracks it through december 29 , 2012 .
comparison of 5 year cumulative total return* among cadence design systems , inc. , the nasdaq composite index , and s&p 400 information technology cadence design systems , inc .
nasdaq composite s&p 400 information technology 12/29/1212/31/111/1/111/2/101/3/0912/29/07 *$ 100 invested on 12/29/07 in stock or 12/31/07 in index , including reinvestment of dividends .
indexes calculated on month-end basis .
copyright a9 2013 s&p , a division of the mcgraw-hill companies inc .
all rights reserved. ._| | | 12/29/2007 | 1/3/2009 | 1/2/2010 | 1/1/2011 | 12/31/2011 | 12/29/2012 |
|---:|:-------------------------------|-------------:|-----------:|-----------:|-----------:|-------------:|-------------:|
| 0 | cadence design systems inc . | 100 | 22.55 | 35.17 | 48.5 | 61.07 | 78.92 |
| 1 | nasdaq composite | 100 | 59.03 | 82.25 | 97.32 | 98.63 | 110.78 |
| 2 | s&p 400 information technology | 100 | 54.6 | 82.76 | 108.11 | 95.48 | 109.88 |_the stock price performance included in this graph is not necessarily indicative of future stock price performance .
| 2,012
| 30
|
CDNS
|
Cadence Design Systems
|
Information Technology
|
Application Software
|
San Jose, California
|
2017-09-18
| 813,672
|
1988
| null | null |
finqa56
|
what percentage of warehouse locations are in north america?
|
21.3%
|
divide(16, 75)
|
item 2 : properties information concerning applied 2019s principal properties at october 26 , 2014 is set forth below : location type principal use square footage ownership santa clara , ca .
.
.
.
.
.
.
.
.
.
.
office , plant & warehouse headquarters ; marketing ; manufacturing ; distribution ; research , development , engineering ; customer support 1358000 164000 leased austin , tx .
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.
.
.
.
.
.
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.
.
office , plant & warehouse manufacturing 1676000 145000 leased rehovot , israel .
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.
.
.
.
.
.
.
.
office , plant & warehouse manufacturing ; research , development , engineering ; customer support 381000 leased singapore .
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.
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.
office , plant & warehouse manufacturing and customer support 408000 11000 leased gloucester , ma .
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.
office , plant & warehouse manufacturing ; research , development , engineering ; customer support 315000 125000 leased tainan , taiwan .
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.
office , plant & warehouse manufacturing and customer support 320000 owned because of the interrelation of applied 2019s operations , properties within a country may be shared by the segments operating within that country .
products in the silicon systems group are manufactured in austin , texas ; singapore ; gloucester , massachusetts ; and rehovot , israel .
remanufactured equipment products in the applied global services segment are produced primarily in austin , texas .
products in the display segment are manufactured in tainan , taiwan and santa clara , california .
products in the energy and environmental solutions segment are primarily manufactured in alzenau , germany ; treviso , italy ; and cheseaux , switzerland .
in addition to the above properties , applied also owns and leases offices , plants and/or warehouse locations in 75 locations throughout the world : 16 in europe , 20 in japan , 16 in north america ( principally the united states ) , 7 in china , 3 in india , 7 in korea , 3 in southeast asia , and 3 in taiwan .
these facilities are principally used for manufacturing ; research , development and engineering ; and marketing , sales and/or customer support .
applied also owns a total of approximately 150 acres of buildable land in texas , california , massachusetts , israel and italy that could accommodate additional building space .
applied considers the properties that it owns or leases as adequate to meet its current and future requirements .
applied regularly assesses the size , capability and location of its global infrastructure and periodically makes adjustments based on these assessments. .
|
item 2 : properties information concerning applied 2019s principal properties at october 26 , 2014 is set forth below : location type principal use square footage ownership santa clara , ca .
.
.
.
.
.
.
.
.
.
.
office , plant & warehouse headquarters ; marketing ; manufacturing ; distribution ; research , development , engineering ; customer support 1358000 164000 leased austin , tx .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
office , plant & warehouse manufacturing 1676000 145000 leased rehovot , israel .
.
.
.
.
.
.
.
.
.
.
office , plant & warehouse manufacturing ; research , development , engineering ; customer support 381000 leased singapore .
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.
.
.
.
.
.
.
.
.
.
.
.
.
office , plant & warehouse manufacturing and customer support 408000 11000 leased gloucester , ma .
.
.
.
.
.
.
.
.
.
.
office , plant & warehouse manufacturing ; research , development , engineering ; customer support 315000 125000 leased tainan , taiwan .
.
.
.
.
.
.
.
.
.
.
office , plant & warehouse manufacturing and customer support 320000 owned because of the interrelation of applied 2019s operations , properties within a country may be shared by the segments operating within that country .
products in the silicon systems group are manufactured in austin , texas ; singapore ; gloucester , massachusetts ; and rehovot , israel .
remanufactured equipment products in the applied global services segment are produced primarily in austin , texas .
products in the display segment are manufactured in tainan , taiwan and santa clara , california .
products in the energy and environmental solutions segment are primarily manufactured in alzenau , germany ; treviso , italy ; and cheseaux , switzerland .
in addition to the above properties , applied also owns and leases offices , plants and/or warehouse locations in 75 locations throughout the world : 16 in europe , 20 in japan , 16 in north america ( principally the united states ) , 7 in china , 3 in india , 7 in korea , 3 in southeast asia , and 3 in taiwan .
these facilities are principally used for manufacturing ; research , development and engineering ; and marketing , sales and/or customer support .
applied also owns a total of approximately 150 acres of buildable land in texas , california , massachusetts , israel and italy that could accommodate additional building space .
applied considers the properties that it owns or leases as adequate to meet its current and future requirements .
applied regularly assesses the size , capability and location of its global infrastructure and periodically makes adjustments based on these assessments. .
|
| | location | type | principal use | squarefootage | ownership |
|---:|:---------------|:-------------------------|:-------------------------------------------------------------------------------------------------------------|----------------:|:------------|
| 0 | santa clara ca | office plant & warehouse | headquarters ; marketing ; manufacturing ; distribution ; research developmentengineering ; customer support | 1358000164000 | ownedleased |
| 1 | austin tx | office plant & warehouse | manufacturing | 1676000145000 | ownedleased |
| 2 | rehovot israel | office plant & warehouse | manufacturing ; researchdevelopment engineering;customer support | 3810005400 | ownedleased |
| 3 | singapore | office plant & warehouse | manufacturing andcustomer support | 40800011000 | ownedleased |
| 4 | gloucester ma | office plant & warehouse | manufacturing ; researchdevelopment engineering;customer support | 315000125000 | ownedleased |
| 5 | tainan taiwan | office plant & warehouse | manufacturing andcustomer support | 320000 | owned |
|
item 2 : properties information concerning applied 2019s principal properties at october 26 , 2014 is set forth below : location type principal use square footage ownership santa clara , ca .
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office , plant & warehouse headquarters ; marketing ; manufacturing ; distribution ; research , development , engineering ; customer support 1358000 164000 leased austin , tx .
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office , plant & warehouse manufacturing 1676000 145000 leased rehovot , israel .
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office , plant & warehouse manufacturing ; research , development , engineering ; customer support 381000 leased singapore .
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office , plant & warehouse manufacturing and customer support 408000 11000 leased gloucester , ma .
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office , plant & warehouse manufacturing ; research , development , engineering ; customer support 315000 125000 leased tainan , taiwan .
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.
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.
.
.
office , plant & warehouse manufacturing and customer support 320000 owned because of the interrelation of applied 2019s operations , properties within a country may be shared by the segments operating within that country .
products in the silicon systems group are manufactured in austin , texas ; singapore ; gloucester , massachusetts ; and rehovot , israel .
remanufactured equipment products in the applied global services segment are produced primarily in austin , texas .
products in the display segment are manufactured in tainan , taiwan and santa clara , california .
products in the energy and environmental solutions segment are primarily manufactured in alzenau , germany ; treviso , italy ; and cheseaux , switzerland .
in addition to the above properties , applied also owns and leases offices , plants and/or warehouse locations in 75 locations throughout the world : 16 in europe , 20 in japan , 16 in north america ( principally the united states ) , 7 in china , 3 in india , 7 in korea , 3 in southeast asia , and 3 in taiwan .
these facilities are principally used for manufacturing ; research , development and engineering ; and marketing , sales and/or customer support .
applied also owns a total of approximately 150 acres of buildable land in texas , california , massachusetts , israel and italy that could accommodate additional building space .
applied considers the properties that it owns or leases as adequate to meet its current and future requirements .
applied regularly assesses the size , capability and location of its global infrastructure and periodically makes adjustments based on these assessments. ._| | location | type | principal use | squarefootage | ownership |
|---:|:---------------|:-------------------------|:-------------------------------------------------------------------------------------------------------------|----------------:|:------------|
| 0 | santa clara ca | office plant & warehouse | headquarters ; marketing ; manufacturing ; distribution ; research developmentengineering ; customer support | 1358000164000 | ownedleased |
| 1 | austin tx | office plant & warehouse | manufacturing | 1676000145000 | ownedleased |
| 2 | rehovot israel | office plant & warehouse | manufacturing ; researchdevelopment engineering;customer support | 3810005400 | ownedleased |
| 3 | singapore | office plant & warehouse | manufacturing andcustomer support | 40800011000 | ownedleased |
| 4 | gloucester ma | office plant & warehouse | manufacturing ; researchdevelopment engineering;customer support | 315000125000 | ownedleased |
| 5 | tainan taiwan | office plant & warehouse | manufacturing andcustomer support | 320000 | owned |_item 2 : properties information concerning applied 2019s principal properties at october 26 , 2014 is set forth below : location type principal use square footage ownership santa clara , ca .
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office , plant & warehouse headquarters ; marketing ; manufacturing ; distribution ; research , development , engineering ; customer support 1358000 164000 leased austin , tx .
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office , plant & warehouse manufacturing 1676000 145000 leased rehovot , israel .
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office , plant & warehouse manufacturing ; research , development , engineering ; customer support 381000 leased singapore .
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office , plant & warehouse manufacturing and customer support 408000 11000 leased gloucester , ma .
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office , plant & warehouse manufacturing ; research , development , engineering ; customer support 315000 125000 leased tainan , taiwan .
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.
.
.
.
.
.
.
.
.
office , plant & warehouse manufacturing and customer support 320000 owned because of the interrelation of applied 2019s operations , properties within a country may be shared by the segments operating within that country .
products in the silicon systems group are manufactured in austin , texas ; singapore ; gloucester , massachusetts ; and rehovot , israel .
remanufactured equipment products in the applied global services segment are produced primarily in austin , texas .
products in the display segment are manufactured in tainan , taiwan and santa clara , california .
products in the energy and environmental solutions segment are primarily manufactured in alzenau , germany ; treviso , italy ; and cheseaux , switzerland .
in addition to the above properties , applied also owns and leases offices , plants and/or warehouse locations in 75 locations throughout the world : 16 in europe , 20 in japan , 16 in north america ( principally the united states ) , 7 in china , 3 in india , 7 in korea , 3 in southeast asia , and 3 in taiwan .
these facilities are principally used for manufacturing ; research , development and engineering ; and marketing , sales and/or customer support .
applied also owns a total of approximately 150 acres of buildable land in texas , california , massachusetts , israel and italy that could accommodate additional building space .
applied considers the properties that it owns or leases as adequate to meet its current and future requirements .
applied regularly assesses the size , capability and location of its global infrastructure and periodically makes adjustments based on these assessments. .
| 2,014
| 35
|
AMAT
|
Applied Materials
|
Information Technology
|
Semiconductor Materials & Equipment
|
Santa Clara, California
|
1995-03-16
| 6,951
|
1967
|
what percentage of warehouse locations are in north america?
|
21.3%
|
divide(16, 75)
|
item 2 : properties information concerning applied 2019s principal properties at october 26 , 2014 is set forth below : location type principal use square footage ownership santa clara , ca .
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.
.
.
.
.
.
.
.
office , plant & warehouse headquarters ; marketing ; manufacturing ; distribution ; research , development , engineering ; customer support 1358000 164000 leased austin , tx .
.
.
.
.
.
.
.
.
.
.
.
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.
.
office , plant & warehouse manufacturing 1676000 145000 leased rehovot , israel .
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.
.
.
.
.
.
.
.
.
office , plant & warehouse manufacturing ; research , development , engineering ; customer support 381000 leased singapore .
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.
.
.
.
.
.
.
.
.
.
.
.
.
office , plant & warehouse manufacturing and customer support 408000 11000 leased gloucester , ma .
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.
.
.
.
.
.
.
.
.
office , plant & warehouse manufacturing ; research , development , engineering ; customer support 315000 125000 leased tainan , taiwan .
.
.
.
.
.
.
.
.
.
.
office , plant & warehouse manufacturing and customer support 320000 owned because of the interrelation of applied 2019s operations , properties within a country may be shared by the segments operating within that country .
products in the silicon systems group are manufactured in austin , texas ; singapore ; gloucester , massachusetts ; and rehovot , israel .
remanufactured equipment products in the applied global services segment are produced primarily in austin , texas .
products in the display segment are manufactured in tainan , taiwan and santa clara , california .
products in the energy and environmental solutions segment are primarily manufactured in alzenau , germany ; treviso , italy ; and cheseaux , switzerland .
in addition to the above properties , applied also owns and leases offices , plants and/or warehouse locations in 75 locations throughout the world : 16 in europe , 20 in japan , 16 in north america ( principally the united states ) , 7 in china , 3 in india , 7 in korea , 3 in southeast asia , and 3 in taiwan .
these facilities are principally used for manufacturing ; research , development and engineering ; and marketing , sales and/or customer support .
applied also owns a total of approximately 150 acres of buildable land in texas , california , massachusetts , israel and italy that could accommodate additional building space .
applied considers the properties that it owns or leases as adequate to meet its current and future requirements .
applied regularly assesses the size , capability and location of its global infrastructure and periodically makes adjustments based on these assessments. .
|
item 2 : properties information concerning applied 2019s principal properties at october 26 , 2014 is set forth below : location type principal use square footage ownership santa clara , ca .
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.
.
.
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.
.
office , plant & warehouse headquarters ; marketing ; manufacturing ; distribution ; research , development , engineering ; customer support 1358000 164000 leased austin , tx .
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.
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.
.
.
.
.
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.
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office , plant & warehouse manufacturing 1676000 145000 leased rehovot , israel .
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.
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.
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.
office , plant & warehouse manufacturing ; research , development , engineering ; customer support 381000 leased singapore .
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.
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.
.
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.
.
.
.
office , plant & warehouse manufacturing and customer support 408000 11000 leased gloucester , ma .
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.
.
.
.
.
.
.
.
office , plant & warehouse manufacturing ; research , development , engineering ; customer support 315000 125000 leased tainan , taiwan .
.
.
.
.
.
.
.
.
.
.
office , plant & warehouse manufacturing and customer support 320000 owned because of the interrelation of applied 2019s operations , properties within a country may be shared by the segments operating within that country .
products in the silicon systems group are manufactured in austin , texas ; singapore ; gloucester , massachusetts ; and rehovot , israel .
remanufactured equipment products in the applied global services segment are produced primarily in austin , texas .
products in the display segment are manufactured in tainan , taiwan and santa clara , california .
products in the energy and environmental solutions segment are primarily manufactured in alzenau , germany ; treviso , italy ; and cheseaux , switzerland .
in addition to the above properties , applied also owns and leases offices , plants and/or warehouse locations in 75 locations throughout the world : 16 in europe , 20 in japan , 16 in north america ( principally the united states ) , 7 in china , 3 in india , 7 in korea , 3 in southeast asia , and 3 in taiwan .
these facilities are principally used for manufacturing ; research , development and engineering ; and marketing , sales and/or customer support .
applied also owns a total of approximately 150 acres of buildable land in texas , california , massachusetts , israel and italy that could accommodate additional building space .
applied considers the properties that it owns or leases as adequate to meet its current and future requirements .
applied regularly assesses the size , capability and location of its global infrastructure and periodically makes adjustments based on these assessments. .
|
| | location | type | principal use | squarefootage | ownership |
|---:|:---------------|:-------------------------|:-------------------------------------------------------------------------------------------------------------|----------------:|:------------|
| 0 | santa clara ca | office plant & warehouse | headquarters ; marketing ; manufacturing ; distribution ; research developmentengineering ; customer support | 1358000164000 | ownedleased |
| 1 | austin tx | office plant & warehouse | manufacturing | 1676000145000 | ownedleased |
| 2 | rehovot israel | office plant & warehouse | manufacturing ; researchdevelopment engineering;customer support | 3810005400 | ownedleased |
| 3 | singapore | office plant & warehouse | manufacturing andcustomer support | 40800011000 | ownedleased |
| 4 | gloucester ma | office plant & warehouse | manufacturing ; researchdevelopment engineering;customer support | 315000125000 | ownedleased |
| 5 | tainan taiwan | office plant & warehouse | manufacturing andcustomer support | 320000 | owned |
|
item 2 : properties information concerning applied 2019s principal properties at october 26 , 2014 is set forth below : location type principal use square footage ownership santa clara , ca .
.
.
.
.
.
.
.
.
.
.
office , plant & warehouse headquarters ; marketing ; manufacturing ; distribution ; research , development , engineering ; customer support 1358000 164000 leased austin , tx .
.
.
.
.
.
.
.
.
.
.
.
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.
.
office , plant & warehouse manufacturing 1676000 145000 leased rehovot , israel .
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.
.
.
.
.
.
.
.
.
office , plant & warehouse manufacturing ; research , development , engineering ; customer support 381000 leased singapore .
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.
.
.
.
.
.
.
.
.
.
.
.
.
office , plant & warehouse manufacturing and customer support 408000 11000 leased gloucester , ma .
.
.
.
.
.
.
.
.
.
.
office , plant & warehouse manufacturing ; research , development , engineering ; customer support 315000 125000 leased tainan , taiwan .
.
.
.
.
.
.
.
.
.
.
office , plant & warehouse manufacturing and customer support 320000 owned because of the interrelation of applied 2019s operations , properties within a country may be shared by the segments operating within that country .
products in the silicon systems group are manufactured in austin , texas ; singapore ; gloucester , massachusetts ; and rehovot , israel .
remanufactured equipment products in the applied global services segment are produced primarily in austin , texas .
products in the display segment are manufactured in tainan , taiwan and santa clara , california .
products in the energy and environmental solutions segment are primarily manufactured in alzenau , germany ; treviso , italy ; and cheseaux , switzerland .
in addition to the above properties , applied also owns and leases offices , plants and/or warehouse locations in 75 locations throughout the world : 16 in europe , 20 in japan , 16 in north america ( principally the united states ) , 7 in china , 3 in india , 7 in korea , 3 in southeast asia , and 3 in taiwan .
these facilities are principally used for manufacturing ; research , development and engineering ; and marketing , sales and/or customer support .
applied also owns a total of approximately 150 acres of buildable land in texas , california , massachusetts , israel and italy that could accommodate additional building space .
applied considers the properties that it owns or leases as adequate to meet its current and future requirements .
applied regularly assesses the size , capability and location of its global infrastructure and periodically makes adjustments based on these assessments. ._| | location | type | principal use | squarefootage | ownership |
|---:|:---------------|:-------------------------|:-------------------------------------------------------------------------------------------------------------|----------------:|:------------|
| 0 | santa clara ca | office plant & warehouse | headquarters ; marketing ; manufacturing ; distribution ; research developmentengineering ; customer support | 1358000164000 | ownedleased |
| 1 | austin tx | office plant & warehouse | manufacturing | 1676000145000 | ownedleased |
| 2 | rehovot israel | office plant & warehouse | manufacturing ; researchdevelopment engineering;customer support | 3810005400 | ownedleased |
| 3 | singapore | office plant & warehouse | manufacturing andcustomer support | 40800011000 | ownedleased |
| 4 | gloucester ma | office plant & warehouse | manufacturing ; researchdevelopment engineering;customer support | 315000125000 | ownedleased |
| 5 | tainan taiwan | office plant & warehouse | manufacturing andcustomer support | 320000 | owned |_item 2 : properties information concerning applied 2019s principal properties at october 26 , 2014 is set forth below : location type principal use square footage ownership santa clara , ca .
.
.
.
.
.
.
.
.
.
.
office , plant & warehouse headquarters ; marketing ; manufacturing ; distribution ; research , development , engineering ; customer support 1358000 164000 leased austin , tx .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
office , plant & warehouse manufacturing 1676000 145000 leased rehovot , israel .
.
.
.
.
.
.
.
.
.
.
office , plant & warehouse manufacturing ; research , development , engineering ; customer support 381000 leased singapore .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
office , plant & warehouse manufacturing and customer support 408000 11000 leased gloucester , ma .
.
.
.
.
.
.
.
.
.
.
office , plant & warehouse manufacturing ; research , development , engineering ; customer support 315000 125000 leased tainan , taiwan .
.
.
.
.
.
.
.
.
.
.
office , plant & warehouse manufacturing and customer support 320000 owned because of the interrelation of applied 2019s operations , properties within a country may be shared by the segments operating within that country .
products in the silicon systems group are manufactured in austin , texas ; singapore ; gloucester , massachusetts ; and rehovot , israel .
remanufactured equipment products in the applied global services segment are produced primarily in austin , texas .
products in the display segment are manufactured in tainan , taiwan and santa clara , california .
products in the energy and environmental solutions segment are primarily manufactured in alzenau , germany ; treviso , italy ; and cheseaux , switzerland .
in addition to the above properties , applied also owns and leases offices , plants and/or warehouse locations in 75 locations throughout the world : 16 in europe , 20 in japan , 16 in north america ( principally the united states ) , 7 in china , 3 in india , 7 in korea , 3 in southeast asia , and 3 in taiwan .
these facilities are principally used for manufacturing ; research , development and engineering ; and marketing , sales and/or customer support .
applied also owns a total of approximately 150 acres of buildable land in texas , california , massachusetts , israel and italy that could accommodate additional building space .
applied considers the properties that it owns or leases as adequate to meet its current and future requirements .
applied regularly assesses the size , capability and location of its global infrastructure and periodically makes adjustments based on these assessments. .
| 2,014
| 35
|
AMAT
|
Applied Materials
|
Information Technology
|
Semiconductor Materials & Equipment
|
Santa Clara, California
|
1995-03-16
| 6,951
|
1967
| null | null |
finqa57
|
at december 31 , 2006 what was the ratio of the expected future pension benefits after 2012 compared to 2008
|
6.4
|
divide(9530, 1490)
|
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 .
john d .
tillson v .
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 .
|
| | ( in millions ) | pensionbenefits | otherbenefits |
|---:|:---------------------|:------------------|:----------------|
| 0 | 2007 | $ 1440 | $ 260 |
| 1 | 2008 | 1490 | 260 |
| 2 | 2009 | 1540 | 270 |
| 3 | 2010 | 1600 | 270 |
| 4 | 2011 | 1660 | 270 |
| 5 | years 2012 2013 2016 | 9530 | 1260 |
|
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 ._| | ( in millions ) | pensionbenefits | otherbenefits |
|---:|:---------------------|:------------------|:----------------|
| 0 | 2007 | $ 1440 | $ 260 |
| 1 | 2008 | 1490 | 260 |
| 2 | 2009 | 1540 | 270 |
| 3 | 2010 | 1600 | 270 |
| 4 | 2011 | 1660 | 270 |
| 5 | years 2012 2013 2016 | 9530 | 1260 |_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 .
john d .
tillson v .
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 .
| 2,006
| 90
|
LMT
|
Lockheed Martin
|
Industrials
|
Aerospace & Defense
|
Bethesda, Maryland
|
1957-03-04
| 936,468
|
1995
|
at december 31 , 2006 what was the ratio of the expected future pension benefits after 2012 compared to 2008
|
6.4
|
divide(9530, 1490)
|
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 .
john d .
tillson v .
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 .
|
| | ( in millions ) | pensionbenefits | otherbenefits |
|---:|:---------------------|:------------------|:----------------|
| 0 | 2007 | $ 1440 | $ 260 |
| 1 | 2008 | 1490 | 260 |
| 2 | 2009 | 1540 | 270 |
| 3 | 2010 | 1600 | 270 |
| 4 | 2011 | 1660 | 270 |
| 5 | years 2012 2013 2016 | 9530 | 1260 |
|
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 ._| | ( in millions ) | pensionbenefits | otherbenefits |
|---:|:---------------------|:------------------|:----------------|
| 0 | 2007 | $ 1440 | $ 260 |
| 1 | 2008 | 1490 | 260 |
| 2 | 2009 | 1540 | 270 |
| 3 | 2010 | 1600 | 270 |
| 4 | 2011 | 1660 | 270 |
| 5 | years 2012 2013 2016 | 9530 | 1260 |_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 .
john d .
tillson v .
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 .
| 2,006
| 90
|
LMT
|
Lockheed Martin
|
Industrials
|
Aerospace & Defense
|
Bethesda, Maryland
|
1957-03-04
| 936,468
|
1995
| null | null |
finqa58
|
what are the cost reduction initiatives as a percentage of the operating companies income increase?
|
166%
|
divide(198, 119)
|
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 .
|
| | ( 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 |
|---:|:---------------------------------|--------------------------------------------------------:|--------------------------------------------------------:|--------------------------------------------------------:|
| 0 | copenhagen | 392.5 | 354.2 | 327.5 |
| 1 | skoal | 288.4 | 286.8 | 274.4 |
| 2 | copenhagenandskoal | 680.9 | 641 | 601.9 |
| 3 | other | 82.4 | 93.6 | 122.5 |
| 4 | total smokeless products | 763.3 | 734.6 | 724.4 |
|
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 ._| | ( 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 |
|---:|:---------------------------------|--------------------------------------------------------:|--------------------------------------------------------:|--------------------------------------------------------:|
| 0 | copenhagen | 392.5 | 354.2 | 327.5 |
| 1 | skoal | 288.4 | 286.8 | 274.4 |
| 2 | copenhagenandskoal | 680.9 | 641 | 601.9 |
| 3 | other | 82.4 | 93.6 | 122.5 |
| 4 | total smokeless products | 763.3 | 734.6 | 724.4 |_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 .
| 2,012
| 44
|
MO
|
Altria
|
Consumer Staples
|
Tobacco
|
Richmond, Virginia
|
1957-03-04
| 764,180
|
1985
|
what are the cost reduction initiatives as a percentage of the operating companies income increase?
|
166%
|
divide(198, 119)
|
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 .
|
| | ( 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 |
|---:|:---------------------------------|--------------------------------------------------------:|--------------------------------------------------------:|--------------------------------------------------------:|
| 0 | copenhagen | 392.5 | 354.2 | 327.5 |
| 1 | skoal | 288.4 | 286.8 | 274.4 |
| 2 | copenhagenandskoal | 680.9 | 641 | 601.9 |
| 3 | other | 82.4 | 93.6 | 122.5 |
| 4 | total smokeless products | 763.3 | 734.6 | 724.4 |
|
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 ._| | ( 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 |
|---:|:---------------------------------|--------------------------------------------------------:|--------------------------------------------------------:|--------------------------------------------------------:|
| 0 | copenhagen | 392.5 | 354.2 | 327.5 |
| 1 | skoal | 288.4 | 286.8 | 274.4 |
| 2 | copenhagenandskoal | 680.9 | 641 | 601.9 |
| 3 | other | 82.4 | 93.6 | 122.5 |
| 4 | total smokeless products | 763.3 | 734.6 | 724.4 |_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 .
| 2,012
| 44
|
MO
|
Altria
|
Consumer Staples
|
Tobacco
|
Richmond, Virginia
|
1957-03-04
| 764,180
|
1985
| null | null |
finqa59
|
what was change in millions for the estimated sensitivity to a one basis point increase in credit spreads on derivatives ( including hedges ) between 2017 and 2016?
|
1
|
subtract(3, 2)
|
the goldman sachs group , inc .
and subsidiaries management 2019s discussion and analysis sensitivity measures certain portfolios and individual positions are not included in var because var is not the most appropriate risk measure .
other sensitivity measures we use to analyze market risk are described below .
10% ( 10 % ) sensitivity measures .
the table below presents market risk for positions , accounted for at fair value , that are not included in var by asset category. .
|
in the table above : 2030 the market risk of these positions is determined by estimating the potential reduction in net revenues of a 10% ( 10 % ) decline in the value of these positions .
2030 equity positions relate to private and restricted public equity securities , including interests in funds that invest in corporate equities and real estate and interests in hedge funds .
2030 debt positions include interests in funds that invest in corporate mezzanine and senior debt instruments , loans backed by commercial and residential real estate , corporate bank loans and other corporate debt , including acquired portfolios of distressed loans .
2030 equity and debt funded positions are included in our consolidated statements of financial condition in financial instruments owned .
see note 6 to the consolidated financial statements for further information about cash instruments .
2030 these measures do not reflect the diversification effect across asset categories or across other market risk measures .
credit spread sensitivity on derivatives and financial liabilities .
var excludes the impact of changes in counterparty and our own credit spreads on derivatives , as well as changes in our own credit spreads ( debt valuation adjustment ) on financial liabilities for which the fair value option was elected .
the estimated sensitivity to a one basis point increase in credit spreads ( counterparty and our own ) on derivatives was a gain of $ 3 million and $ 2 million ( including hedges ) as of december 2017 and december 2016 , respectively .
in addition , the estimated sensitivity to a one basis point increase in our own credit spreads on financial liabilities for which the fair value option was elected was a gain of $ 35 million and $ 25 million as of december 2017 and december 2016 , respectively .
however , the actual net impact of a change in our own credit spreads is also affected by the liquidity , duration and convexity ( as the sensitivity is not linear to changes in yields ) of those financial liabilities for which the fair value option was elected , as well as the relative performance of any hedges undertaken .
interest rate sensitivity .
loans receivable as of december 2017 and december 2016 were $ 65.93 billion and $ 49.67 billion , respectively , substantially all of which had floating interest rates .
as of december 2017 and december 2016 , the estimated sensitivity to a 100 basis point increase in interest rates on such loans was $ 527 million and $ 405 million , respectively , of additional interest income over a twelve-month period , which does not take into account the potential impact of an increase in costs to fund such loans .
see note 9 to the consolidated financial statements for further information about loans receivable .
other market risk considerations as of december 2017 and december 2016 , we had commitments and held loans for which we have obtained credit loss protection from sumitomo mitsui financial group , inc .
see note 18 to the consolidated financial statements for further information about such lending commitments .
in addition , we make investments in securities that are accounted for as available-for-sale and included in financial instruments owned in the consolidated statements of financial condition .
see note 6 to the consolidated financial statements for further information .
we also make investments accounted for under the equity method and we also make direct investments in real estate , both of which are included in other assets .
direct investments in real estate are accounted for at cost less accumulated depreciation .
see note 13 to the consolidated financial statements for further information about other assets .
goldman sachs 2017 form 10-k 93 .
|
| | $ in millions | as of december 2017 | as of december 2016 | as of december 2015 |
|---:|:----------------|:----------------------|:----------------------|:----------------------|
| 0 | equity | $ 2096 | $ 2085 | $ 2157 |
| 1 | debt | 1606 | 1702 | 1479 |
| 2 | total | $ 3702 | $ 3787 | $ 3636 |
|
the goldman sachs group , inc .
and subsidiaries management 2019s discussion and analysis sensitivity measures certain portfolios and individual positions are not included in var because var is not the most appropriate risk measure .
other sensitivity measures we use to analyze market risk are described below .
10% ( 10 % ) sensitivity measures .
the table below presents market risk for positions , accounted for at fair value , that are not included in var by asset category. ._| | $ in millions | as of december 2017 | as of december 2016 | as of december 2015 |
|---:|:----------------|:----------------------|:----------------------|:----------------------|
| 0 | equity | $ 2096 | $ 2085 | $ 2157 |
| 1 | debt | 1606 | 1702 | 1479 |
| 2 | total | $ 3702 | $ 3787 | $ 3636 |_in the table above : 2030 the market risk of these positions is determined by estimating the potential reduction in net revenues of a 10% ( 10 % ) decline in the value of these positions .
2030 equity positions relate to private and restricted public equity securities , including interests in funds that invest in corporate equities and real estate and interests in hedge funds .
2030 debt positions include interests in funds that invest in corporate mezzanine and senior debt instruments , loans backed by commercial and residential real estate , corporate bank loans and other corporate debt , including acquired portfolios of distressed loans .
2030 equity and debt funded positions are included in our consolidated statements of financial condition in financial instruments owned .
see note 6 to the consolidated financial statements for further information about cash instruments .
2030 these measures do not reflect the diversification effect across asset categories or across other market risk measures .
credit spread sensitivity on derivatives and financial liabilities .
var excludes the impact of changes in counterparty and our own credit spreads on derivatives , as well as changes in our own credit spreads ( debt valuation adjustment ) on financial liabilities for which the fair value option was elected .
the estimated sensitivity to a one basis point increase in credit spreads ( counterparty and our own ) on derivatives was a gain of $ 3 million and $ 2 million ( including hedges ) as of december 2017 and december 2016 , respectively .
in addition , the estimated sensitivity to a one basis point increase in our own credit spreads on financial liabilities for which the fair value option was elected was a gain of $ 35 million and $ 25 million as of december 2017 and december 2016 , respectively .
however , the actual net impact of a change in our own credit spreads is also affected by the liquidity , duration and convexity ( as the sensitivity is not linear to changes in yields ) of those financial liabilities for which the fair value option was elected , as well as the relative performance of any hedges undertaken .
interest rate sensitivity .
loans receivable as of december 2017 and december 2016 were $ 65.93 billion and $ 49.67 billion , respectively , substantially all of which had floating interest rates .
as of december 2017 and december 2016 , the estimated sensitivity to a 100 basis point increase in interest rates on such loans was $ 527 million and $ 405 million , respectively , of additional interest income over a twelve-month period , which does not take into account the potential impact of an increase in costs to fund such loans .
see note 9 to the consolidated financial statements for further information about loans receivable .
other market risk considerations as of december 2017 and december 2016 , we had commitments and held loans for which we have obtained credit loss protection from sumitomo mitsui financial group , inc .
see note 18 to the consolidated financial statements for further information about such lending commitments .
in addition , we make investments in securities that are accounted for as available-for-sale and included in financial instruments owned in the consolidated statements of financial condition .
see note 6 to the consolidated financial statements for further information .
we also make investments accounted for under the equity method and we also make direct investments in real estate , both of which are included in other assets .
direct investments in real estate are accounted for at cost less accumulated depreciation .
see note 13 to the consolidated financial statements for further information about other assets .
goldman sachs 2017 form 10-k 93 .
| 2,017
| 106
|
GS
|
Goldman Sachs
|
Financials
|
Investment Banking & Brokerage
|
New York City, New York
|
2002-07-22
| 886,982
|
1869
|
what was change in millions for the estimated sensitivity to a one basis point increase in credit spreads on derivatives ( including hedges ) between 2017 and 2016?
|
1
|
subtract(3, 2)
|
the goldman sachs group , inc .
and subsidiaries management 2019s discussion and analysis sensitivity measures certain portfolios and individual positions are not included in var because var is not the most appropriate risk measure .
other sensitivity measures we use to analyze market risk are described below .
10% ( 10 % ) sensitivity measures .
the table below presents market risk for positions , accounted for at fair value , that are not included in var by asset category. .
|
in the table above : 2030 the market risk of these positions is determined by estimating the potential reduction in net revenues of a 10% ( 10 % ) decline in the value of these positions .
2030 equity positions relate to private and restricted public equity securities , including interests in funds that invest in corporate equities and real estate and interests in hedge funds .
2030 debt positions include interests in funds that invest in corporate mezzanine and senior debt instruments , loans backed by commercial and residential real estate , corporate bank loans and other corporate debt , including acquired portfolios of distressed loans .
2030 equity and debt funded positions are included in our consolidated statements of financial condition in financial instruments owned .
see note 6 to the consolidated financial statements for further information about cash instruments .
2030 these measures do not reflect the diversification effect across asset categories or across other market risk measures .
credit spread sensitivity on derivatives and financial liabilities .
var excludes the impact of changes in counterparty and our own credit spreads on derivatives , as well as changes in our own credit spreads ( debt valuation adjustment ) on financial liabilities for which the fair value option was elected .
the estimated sensitivity to a one basis point increase in credit spreads ( counterparty and our own ) on derivatives was a gain of $ 3 million and $ 2 million ( including hedges ) as of december 2017 and december 2016 , respectively .
in addition , the estimated sensitivity to a one basis point increase in our own credit spreads on financial liabilities for which the fair value option was elected was a gain of $ 35 million and $ 25 million as of december 2017 and december 2016 , respectively .
however , the actual net impact of a change in our own credit spreads is also affected by the liquidity , duration and convexity ( as the sensitivity is not linear to changes in yields ) of those financial liabilities for which the fair value option was elected , as well as the relative performance of any hedges undertaken .
interest rate sensitivity .
loans receivable as of december 2017 and december 2016 were $ 65.93 billion and $ 49.67 billion , respectively , substantially all of which had floating interest rates .
as of december 2017 and december 2016 , the estimated sensitivity to a 100 basis point increase in interest rates on such loans was $ 527 million and $ 405 million , respectively , of additional interest income over a twelve-month period , which does not take into account the potential impact of an increase in costs to fund such loans .
see note 9 to the consolidated financial statements for further information about loans receivable .
other market risk considerations as of december 2017 and december 2016 , we had commitments and held loans for which we have obtained credit loss protection from sumitomo mitsui financial group , inc .
see note 18 to the consolidated financial statements for further information about such lending commitments .
in addition , we make investments in securities that are accounted for as available-for-sale and included in financial instruments owned in the consolidated statements of financial condition .
see note 6 to the consolidated financial statements for further information .
we also make investments accounted for under the equity method and we also make direct investments in real estate , both of which are included in other assets .
direct investments in real estate are accounted for at cost less accumulated depreciation .
see note 13 to the consolidated financial statements for further information about other assets .
goldman sachs 2017 form 10-k 93 .
|
| | $ in millions | as of december 2017 | as of december 2016 | as of december 2015 |
|---:|:----------------|:----------------------|:----------------------|:----------------------|
| 0 | equity | $ 2096 | $ 2085 | $ 2157 |
| 1 | debt | 1606 | 1702 | 1479 |
| 2 | total | $ 3702 | $ 3787 | $ 3636 |
|
the goldman sachs group , inc .
and subsidiaries management 2019s discussion and analysis sensitivity measures certain portfolios and individual positions are not included in var because var is not the most appropriate risk measure .
other sensitivity measures we use to analyze market risk are described below .
10% ( 10 % ) sensitivity measures .
the table below presents market risk for positions , accounted for at fair value , that are not included in var by asset category. ._| | $ in millions | as of december 2017 | as of december 2016 | as of december 2015 |
|---:|:----------------|:----------------------|:----------------------|:----------------------|
| 0 | equity | $ 2096 | $ 2085 | $ 2157 |
| 1 | debt | 1606 | 1702 | 1479 |
| 2 | total | $ 3702 | $ 3787 | $ 3636 |_in the table above : 2030 the market risk of these positions is determined by estimating the potential reduction in net revenues of a 10% ( 10 % ) decline in the value of these positions .
2030 equity positions relate to private and restricted public equity securities , including interests in funds that invest in corporate equities and real estate and interests in hedge funds .
2030 debt positions include interests in funds that invest in corporate mezzanine and senior debt instruments , loans backed by commercial and residential real estate , corporate bank loans and other corporate debt , including acquired portfolios of distressed loans .
2030 equity and debt funded positions are included in our consolidated statements of financial condition in financial instruments owned .
see note 6 to the consolidated financial statements for further information about cash instruments .
2030 these measures do not reflect the diversification effect across asset categories or across other market risk measures .
credit spread sensitivity on derivatives and financial liabilities .
var excludes the impact of changes in counterparty and our own credit spreads on derivatives , as well as changes in our own credit spreads ( debt valuation adjustment ) on financial liabilities for which the fair value option was elected .
the estimated sensitivity to a one basis point increase in credit spreads ( counterparty and our own ) on derivatives was a gain of $ 3 million and $ 2 million ( including hedges ) as of december 2017 and december 2016 , respectively .
in addition , the estimated sensitivity to a one basis point increase in our own credit spreads on financial liabilities for which the fair value option was elected was a gain of $ 35 million and $ 25 million as of december 2017 and december 2016 , respectively .
however , the actual net impact of a change in our own credit spreads is also affected by the liquidity , duration and convexity ( as the sensitivity is not linear to changes in yields ) of those financial liabilities for which the fair value option was elected , as well as the relative performance of any hedges undertaken .
interest rate sensitivity .
loans receivable as of december 2017 and december 2016 were $ 65.93 billion and $ 49.67 billion , respectively , substantially all of which had floating interest rates .
as of december 2017 and december 2016 , the estimated sensitivity to a 100 basis point increase in interest rates on such loans was $ 527 million and $ 405 million , respectively , of additional interest income over a twelve-month period , which does not take into account the potential impact of an increase in costs to fund such loans .
see note 9 to the consolidated financial statements for further information about loans receivable .
other market risk considerations as of december 2017 and december 2016 , we had commitments and held loans for which we have obtained credit loss protection from sumitomo mitsui financial group , inc .
see note 18 to the consolidated financial statements for further information about such lending commitments .
in addition , we make investments in securities that are accounted for as available-for-sale and included in financial instruments owned in the consolidated statements of financial condition .
see note 6 to the consolidated financial statements for further information .
we also make investments accounted for under the equity method and we also make direct investments in real estate , both of which are included in other assets .
direct investments in real estate are accounted for at cost less accumulated depreciation .
see note 13 to the consolidated financial statements for further information about other assets .
goldman sachs 2017 form 10-k 93 .
| 2,017
| 106
|
GS
|
Goldman Sachs
|
Financials
|
Investment Banking & Brokerage
|
New York City, New York
|
2002-07-22
| 886,982
|
1869
| null | null |
finqa60
|
what percentage of the total cash purchase price net of cash acquired was represented by ipr&d?
|
59%
|
divide(190.0, 320.1)
|
edwards lifesciences corporation notes to consolidated financial statements ( continued ) 7 .
acquisitions ( continued ) was recorded to goodwill .
the following table summarizes the fair values of the assets acquired and liabilities assumed ( in millions ) : .
|
goodwill includes expected synergies and other benefits the company believes will result from the acquisition .
goodwill was assigned to the company 2019s united states segment and is not deductible for tax purposes .
ipr&d has been capitalized at fair value as an intangible asset with an indefinite life and will be assessed for impairment in subsequent periods .
the fair value of the ipr&d was determined using the income approach .
this approach determines fair value based on cash flow projections which are discounted to present value using a risk-adjusted rate of return .
the discount rate used to determine the fair value of the ipr&d was 16.5% ( 16.5 % ) .
completion of successful design developments , bench testing , pre-clinical studies and human clinical studies are required prior to selling any product .
the risks and uncertainties associated with completing development within a reasonable period of time include those related to the design , development , and manufacturability of the product , the success of pre-clinical and clinical studies , and the timing of regulatory approvals .
the valuation assumed $ 97.7 million of additional research and development expenditures would be incurred prior to the date of product introduction , and the company does not currently anticipate significant changes to forecasted research and development expenditures associated with the cardiaq program .
the company 2019s valuation model also assumed net cash inflows would commence in late 2018 , if successful clinical trial experiences lead to a ce mark approval .
upon completion of development , the underlying research and development intangible asset will be amortized over its estimated useful life .
the company disclosed in early february 2017 that it had voluntarily paused enrollment in its clinical trials for the edwards-cardiaq valve to perform further design validation testing on a feature of the valve .
this testing has been completed and , in collaboration with clinical investigators , the company has decided to resume screening patients for enrollment in its clinical trials .
the results of operations for cardiaq have been included in the accompanying consolidated financial statements from the date of acquisition .
pro forma results have not been presented as the results of cardiaq are not material in relation to the consolidated financial statements of the company .
8 .
goodwill and other intangible assets on july 3 , 2015 , the company acquired cardiaq ( see note 7 ) .
this transaction resulted in an increase to goodwill of $ 258.9 million and ipr&d of $ 190.0 million. .
|
| | current assets | $ 28.1 |
|---:|:-----------------------------------------------|:---------------|
| 0 | property and equipment net | 0.2 |
| 1 | goodwill | 258.9 |
| 2 | ipr&d | 190.0 |
| 3 | current liabilities assumed | -32.9 ( 32.9 ) |
| 4 | deferred income taxes | -66.0 ( 66.0 ) |
| 5 | contingent consideration | -30.3 ( 30.3 ) |
| 6 | total cash purchase price | 348.0 |
| 7 | less : cash acquired | -27.9 ( 27.9 ) |
| 8 | total cash purchase price net of cash acquired | $ 320.1 |
|
edwards lifesciences corporation notes to consolidated financial statements ( continued ) 7 .
acquisitions ( continued ) was recorded to goodwill .
the following table summarizes the fair values of the assets acquired and liabilities assumed ( in millions ) : ._| | current assets | $ 28.1 |
|---:|:-----------------------------------------------|:---------------|
| 0 | property and equipment net | 0.2 |
| 1 | goodwill | 258.9 |
| 2 | ipr&d | 190.0 |
| 3 | current liabilities assumed | -32.9 ( 32.9 ) |
| 4 | deferred income taxes | -66.0 ( 66.0 ) |
| 5 | contingent consideration | -30.3 ( 30.3 ) |
| 6 | total cash purchase price | 348.0 |
| 7 | less : cash acquired | -27.9 ( 27.9 ) |
| 8 | total cash purchase price net of cash acquired | $ 320.1 |_goodwill includes expected synergies and other benefits the company believes will result from the acquisition .
goodwill was assigned to the company 2019s united states segment and is not deductible for tax purposes .
ipr&d has been capitalized at fair value as an intangible asset with an indefinite life and will be assessed for impairment in subsequent periods .
the fair value of the ipr&d was determined using the income approach .
this approach determines fair value based on cash flow projections which are discounted to present value using a risk-adjusted rate of return .
the discount rate used to determine the fair value of the ipr&d was 16.5% ( 16.5 % ) .
completion of successful design developments , bench testing , pre-clinical studies and human clinical studies are required prior to selling any product .
the risks and uncertainties associated with completing development within a reasonable period of time include those related to the design , development , and manufacturability of the product , the success of pre-clinical and clinical studies , and the timing of regulatory approvals .
the valuation assumed $ 97.7 million of additional research and development expenditures would be incurred prior to the date of product introduction , and the company does not currently anticipate significant changes to forecasted research and development expenditures associated with the cardiaq program .
the company 2019s valuation model also assumed net cash inflows would commence in late 2018 , if successful clinical trial experiences lead to a ce mark approval .
upon completion of development , the underlying research and development intangible asset will be amortized over its estimated useful life .
the company disclosed in early february 2017 that it had voluntarily paused enrollment in its clinical trials for the edwards-cardiaq valve to perform further design validation testing on a feature of the valve .
this testing has been completed and , in collaboration with clinical investigators , the company has decided to resume screening patients for enrollment in its clinical trials .
the results of operations for cardiaq have been included in the accompanying consolidated financial statements from the date of acquisition .
pro forma results have not been presented as the results of cardiaq are not material in relation to the consolidated financial statements of the company .
8 .
goodwill and other intangible assets on july 3 , 2015 , the company acquired cardiaq ( see note 7 ) .
this transaction resulted in an increase to goodwill of $ 258.9 million and ipr&d of $ 190.0 million. .
| 2,016
| 79
|
EW
|
Edwards Lifesciences
|
Health Care
|
Health Care Equipment
|
Irvine, California
|
2011-04-01
| 1,099,800
|
1958
|
what percentage of the total cash purchase price net of cash acquired was represented by ipr&d?
|
59%
|
divide(190.0, 320.1)
|
edwards lifesciences corporation notes to consolidated financial statements ( continued ) 7 .
acquisitions ( continued ) was recorded to goodwill .
the following table summarizes the fair values of the assets acquired and liabilities assumed ( in millions ) : .
|
goodwill includes expected synergies and other benefits the company believes will result from the acquisition .
goodwill was assigned to the company 2019s united states segment and is not deductible for tax purposes .
ipr&d has been capitalized at fair value as an intangible asset with an indefinite life and will be assessed for impairment in subsequent periods .
the fair value of the ipr&d was determined using the income approach .
this approach determines fair value based on cash flow projections which are discounted to present value using a risk-adjusted rate of return .
the discount rate used to determine the fair value of the ipr&d was 16.5% ( 16.5 % ) .
completion of successful design developments , bench testing , pre-clinical studies and human clinical studies are required prior to selling any product .
the risks and uncertainties associated with completing development within a reasonable period of time include those related to the design , development , and manufacturability of the product , the success of pre-clinical and clinical studies , and the timing of regulatory approvals .
the valuation assumed $ 97.7 million of additional research and development expenditures would be incurred prior to the date of product introduction , and the company does not currently anticipate significant changes to forecasted research and development expenditures associated with the cardiaq program .
the company 2019s valuation model also assumed net cash inflows would commence in late 2018 , if successful clinical trial experiences lead to a ce mark approval .
upon completion of development , the underlying research and development intangible asset will be amortized over its estimated useful life .
the company disclosed in early february 2017 that it had voluntarily paused enrollment in its clinical trials for the edwards-cardiaq valve to perform further design validation testing on a feature of the valve .
this testing has been completed and , in collaboration with clinical investigators , the company has decided to resume screening patients for enrollment in its clinical trials .
the results of operations for cardiaq have been included in the accompanying consolidated financial statements from the date of acquisition .
pro forma results have not been presented as the results of cardiaq are not material in relation to the consolidated financial statements of the company .
8 .
goodwill and other intangible assets on july 3 , 2015 , the company acquired cardiaq ( see note 7 ) .
this transaction resulted in an increase to goodwill of $ 258.9 million and ipr&d of $ 190.0 million. .
|
| | current assets | $ 28.1 |
|---:|:-----------------------------------------------|:---------------|
| 0 | property and equipment net | 0.2 |
| 1 | goodwill | 258.9 |
| 2 | ipr&d | 190.0 |
| 3 | current liabilities assumed | -32.9 ( 32.9 ) |
| 4 | deferred income taxes | -66.0 ( 66.0 ) |
| 5 | contingent consideration | -30.3 ( 30.3 ) |
| 6 | total cash purchase price | 348.0 |
| 7 | less : cash acquired | -27.9 ( 27.9 ) |
| 8 | total cash purchase price net of cash acquired | $ 320.1 |
|
edwards lifesciences corporation notes to consolidated financial statements ( continued ) 7 .
acquisitions ( continued ) was recorded to goodwill .
the following table summarizes the fair values of the assets acquired and liabilities assumed ( in millions ) : ._| | current assets | $ 28.1 |
|---:|:-----------------------------------------------|:---------------|
| 0 | property and equipment net | 0.2 |
| 1 | goodwill | 258.9 |
| 2 | ipr&d | 190.0 |
| 3 | current liabilities assumed | -32.9 ( 32.9 ) |
| 4 | deferred income taxes | -66.0 ( 66.0 ) |
| 5 | contingent consideration | -30.3 ( 30.3 ) |
| 6 | total cash purchase price | 348.0 |
| 7 | less : cash acquired | -27.9 ( 27.9 ) |
| 8 | total cash purchase price net of cash acquired | $ 320.1 |_goodwill includes expected synergies and other benefits the company believes will result from the acquisition .
goodwill was assigned to the company 2019s united states segment and is not deductible for tax purposes .
ipr&d has been capitalized at fair value as an intangible asset with an indefinite life and will be assessed for impairment in subsequent periods .
the fair value of the ipr&d was determined using the income approach .
this approach determines fair value based on cash flow projections which are discounted to present value using a risk-adjusted rate of return .
the discount rate used to determine the fair value of the ipr&d was 16.5% ( 16.5 % ) .
completion of successful design developments , bench testing , pre-clinical studies and human clinical studies are required prior to selling any product .
the risks and uncertainties associated with completing development within a reasonable period of time include those related to the design , development , and manufacturability of the product , the success of pre-clinical and clinical studies , and the timing of regulatory approvals .
the valuation assumed $ 97.7 million of additional research and development expenditures would be incurred prior to the date of product introduction , and the company does not currently anticipate significant changes to forecasted research and development expenditures associated with the cardiaq program .
the company 2019s valuation model also assumed net cash inflows would commence in late 2018 , if successful clinical trial experiences lead to a ce mark approval .
upon completion of development , the underlying research and development intangible asset will be amortized over its estimated useful life .
the company disclosed in early february 2017 that it had voluntarily paused enrollment in its clinical trials for the edwards-cardiaq valve to perform further design validation testing on a feature of the valve .
this testing has been completed and , in collaboration with clinical investigators , the company has decided to resume screening patients for enrollment in its clinical trials .
the results of operations for cardiaq have been included in the accompanying consolidated financial statements from the date of acquisition .
pro forma results have not been presented as the results of cardiaq are not material in relation to the consolidated financial statements of the company .
8 .
goodwill and other intangible assets on july 3 , 2015 , the company acquired cardiaq ( see note 7 ) .
this transaction resulted in an increase to goodwill of $ 258.9 million and ipr&d of $ 190.0 million. .
| 2,016
| 79
|
EW
|
Edwards Lifesciences
|
Health Care
|
Health Care Equipment
|
Irvine, California
|
2011-04-01
| 1,099,800
|
1958
| null | null |
finqa61
|
by how much did the average price per share increase from 2010 to 2011?
|
25.9%
|
divide(subtract(81.15, 64.48), 64.48)
|
during the fourth quarter of 2010 , schlumberger issued 20ac1.0 billion 2.75% ( 2.75 % ) guaranteed notes due under this program .
schlumberger entered into agreements to swap these euro notes for us dollars on the date of issue until maturity , effectively making this a us denominated debt on which schlumberger will pay interest in us dollars at a rate of 2.56% ( 2.56 % ) .
during the first quarter of 2009 , schlumberger issued 20ac1.0 billion 4.50% ( 4.50 % ) guaranteed notes due 2014 under this program .
schlumberger entered into agreements to swap these euro notes for us dollars on the date of issue until maturity , effectively making this a us dollar denominated debt on which schlumberger will pay interest in us dollars at a rate of 4.95% ( 4.95 % ) .
0160 on april 17 , 2008 , the schlumberger board of directors approved an $ 8 billion share repurchase program for shares of schlumberger common stock , to be acquired in the open market before december 31 , 2011 .
on july 21 , 2011 , the schlumberger board of directors approved an extension of this repurchase program to december 31 , 2013 .
schlumberger had repurchased $ 7.12 billion of shares under this program as of december 31 , 2012 .
the following table summarizes the activity under this share repurchase program during 2012 , 2011 and 2010 : ( stated in thousands except per share amounts ) total cost of shares purchased total number of shares purchased average price paid per share .
|
0160 cash flow provided by operations was $ 6.8 billion in 2012 , $ 6.1 billion in 2011 and $ 5.5 billion in 2010 .
in recent years , schlumberger has actively managed its activity levels in venezuela relative to its accounts receivable balance , and has recently experienced an increased delay in payment from its national oil company customer there .
schlumberger operates in approximately 85 countries .
at december 31 , 2012 , only five of those countries ( including venezuela ) individually accounted for greater than 5% ( 5 % ) of schlumberger 2019s accounts receivable balance of which only one , the united states , represented greater than 10% ( 10 % ) .
0160 dividends paid during 2012 , 2011 and 2010 were $ 1.43 billion , $ 1.30 billion and $ 1.04 billion , respectively .
on january 17 , 2013 , schlumberger announced that its board of directors had approved an increase in the quarterly dividend of 13.6% ( 13.6 % ) , to $ 0.3125 .
on january 19 , 2012 , schlumberger announced that its board of directors had approved an increase in the quarterly dividend of 10% ( 10 % ) , to $ 0.275 .
on january 21 , 2011 , schlumberger announced that its board of directors had approved an increase in the quarterly dividend of 19% ( 19 % ) , to $ 0.25 .
0160 capital expenditures were $ 4.7 billion in 2012 , $ 4.0 billion in 2011 and $ 2.9 billion in 2010 .
capital expenditures are expected to approach $ 3.9 billion for the full year 2013 .
0160 during 2012 , 2011 and 2010 schlumberger made contributions of $ 673 million , $ 601 million and $ 868 million , respectively , to its postretirement benefit plans .
the us pension plans were 82% ( 82 % ) funded at december 31 , 2012 based on the projected benefit obligation .
this compares to 87% ( 87 % ) funded at december 31 , 2011 .
schlumberger 2019s international defined benefit pension plans are a combined 88% ( 88 % ) funded at december 31 , 2012 based on the projected benefit obligation .
this compares to 88% ( 88 % ) funded at december 31 , 2011 .
schlumberger currently anticipates contributing approximately $ 650 million to its postretirement benefit plans in 2013 , subject to market and business conditions .
0160 there were $ 321 million outstanding series b debentures at december 31 , 2009 .
during 2010 , the remaining $ 320 million of the 2.125% ( 2.125 % ) series b convertible debentures due june 1 , 2023 were converted by holders into 8.0 million shares of schlumberger common stock and the remaining $ 1 million of outstanding series b debentures were redeemed for cash. .
|
| | | total cost of shares purchased | total number of shares purchased | average price paid per share |
|---:|-----:|:---------------------------------|-----------------------------------:|:-------------------------------|
| 0 | 2012 | $ 971883 | 14087.8 | $ 68.99 |
| 1 | 2011 | $ 2997688 | 36940.4 | $ 81.15 |
| 2 | 2010 | $ 1716675 | 26624.8 | $ 64.48 |
|
during the fourth quarter of 2010 , schlumberger issued 20ac1.0 billion 2.75% ( 2.75 % ) guaranteed notes due under this program .
schlumberger entered into agreements to swap these euro notes for us dollars on the date of issue until maturity , effectively making this a us denominated debt on which schlumberger will pay interest in us dollars at a rate of 2.56% ( 2.56 % ) .
during the first quarter of 2009 , schlumberger issued 20ac1.0 billion 4.50% ( 4.50 % ) guaranteed notes due 2014 under this program .
schlumberger entered into agreements to swap these euro notes for us dollars on the date of issue until maturity , effectively making this a us dollar denominated debt on which schlumberger will pay interest in us dollars at a rate of 4.95% ( 4.95 % ) .
0160 on april 17 , 2008 , the schlumberger board of directors approved an $ 8 billion share repurchase program for shares of schlumberger common stock , to be acquired in the open market before december 31 , 2011 .
on july 21 , 2011 , the schlumberger board of directors approved an extension of this repurchase program to december 31 , 2013 .
schlumberger had repurchased $ 7.12 billion of shares under this program as of december 31 , 2012 .
the following table summarizes the activity under this share repurchase program during 2012 , 2011 and 2010 : ( stated in thousands except per share amounts ) total cost of shares purchased total number of shares purchased average price paid per share ._| | | total cost of shares purchased | total number of shares purchased | average price paid per share |
|---:|-----:|:---------------------------------|-----------------------------------:|:-------------------------------|
| 0 | 2012 | $ 971883 | 14087.8 | $ 68.99 |
| 1 | 2011 | $ 2997688 | 36940.4 | $ 81.15 |
| 2 | 2010 | $ 1716675 | 26624.8 | $ 64.48 |_0160 cash flow provided by operations was $ 6.8 billion in 2012 , $ 6.1 billion in 2011 and $ 5.5 billion in 2010 .
in recent years , schlumberger has actively managed its activity levels in venezuela relative to its accounts receivable balance , and has recently experienced an increased delay in payment from its national oil company customer there .
schlumberger operates in approximately 85 countries .
at december 31 , 2012 , only five of those countries ( including venezuela ) individually accounted for greater than 5% ( 5 % ) of schlumberger 2019s accounts receivable balance of which only one , the united states , represented greater than 10% ( 10 % ) .
0160 dividends paid during 2012 , 2011 and 2010 were $ 1.43 billion , $ 1.30 billion and $ 1.04 billion , respectively .
on january 17 , 2013 , schlumberger announced that its board of directors had approved an increase in the quarterly dividend of 13.6% ( 13.6 % ) , to $ 0.3125 .
on january 19 , 2012 , schlumberger announced that its board of directors had approved an increase in the quarterly dividend of 10% ( 10 % ) , to $ 0.275 .
on january 21 , 2011 , schlumberger announced that its board of directors had approved an increase in the quarterly dividend of 19% ( 19 % ) , to $ 0.25 .
0160 capital expenditures were $ 4.7 billion in 2012 , $ 4.0 billion in 2011 and $ 2.9 billion in 2010 .
capital expenditures are expected to approach $ 3.9 billion for the full year 2013 .
0160 during 2012 , 2011 and 2010 schlumberger made contributions of $ 673 million , $ 601 million and $ 868 million , respectively , to its postretirement benefit plans .
the us pension plans were 82% ( 82 % ) funded at december 31 , 2012 based on the projected benefit obligation .
this compares to 87% ( 87 % ) funded at december 31 , 2011 .
schlumberger 2019s international defined benefit pension plans are a combined 88% ( 88 % ) funded at december 31 , 2012 based on the projected benefit obligation .
this compares to 88% ( 88 % ) funded at december 31 , 2011 .
schlumberger currently anticipates contributing approximately $ 650 million to its postretirement benefit plans in 2013 , subject to market and business conditions .
0160 there were $ 321 million outstanding series b debentures at december 31 , 2009 .
during 2010 , the remaining $ 320 million of the 2.125% ( 2.125 % ) series b convertible debentures due june 1 , 2023 were converted by holders into 8.0 million shares of schlumberger common stock and the remaining $ 1 million of outstanding series b debentures were redeemed for cash. .
| 2,012
| 44
|
SLB
|
Schlumberger
|
Energy
|
Oil & Gas Equipment & Services
|
Houston, Texas
|
1957-03-04
| 87,347
|
1926
|
by how much did the average price per share increase from 2010 to 2011?
|
25.9%
|
divide(subtract(81.15, 64.48), 64.48)
|
during the fourth quarter of 2010 , schlumberger issued 20ac1.0 billion 2.75% ( 2.75 % ) guaranteed notes due under this program .
schlumberger entered into agreements to swap these euro notes for us dollars on the date of issue until maturity , effectively making this a us denominated debt on which schlumberger will pay interest in us dollars at a rate of 2.56% ( 2.56 % ) .
during the first quarter of 2009 , schlumberger issued 20ac1.0 billion 4.50% ( 4.50 % ) guaranteed notes due 2014 under this program .
schlumberger entered into agreements to swap these euro notes for us dollars on the date of issue until maturity , effectively making this a us dollar denominated debt on which schlumberger will pay interest in us dollars at a rate of 4.95% ( 4.95 % ) .
0160 on april 17 , 2008 , the schlumberger board of directors approved an $ 8 billion share repurchase program for shares of schlumberger common stock , to be acquired in the open market before december 31 , 2011 .
on july 21 , 2011 , the schlumberger board of directors approved an extension of this repurchase program to december 31 , 2013 .
schlumberger had repurchased $ 7.12 billion of shares under this program as of december 31 , 2012 .
the following table summarizes the activity under this share repurchase program during 2012 , 2011 and 2010 : ( stated in thousands except per share amounts ) total cost of shares purchased total number of shares purchased average price paid per share .
|
0160 cash flow provided by operations was $ 6.8 billion in 2012 , $ 6.1 billion in 2011 and $ 5.5 billion in 2010 .
in recent years , schlumberger has actively managed its activity levels in venezuela relative to its accounts receivable balance , and has recently experienced an increased delay in payment from its national oil company customer there .
schlumberger operates in approximately 85 countries .
at december 31 , 2012 , only five of those countries ( including venezuela ) individually accounted for greater than 5% ( 5 % ) of schlumberger 2019s accounts receivable balance of which only one , the united states , represented greater than 10% ( 10 % ) .
0160 dividends paid during 2012 , 2011 and 2010 were $ 1.43 billion , $ 1.30 billion and $ 1.04 billion , respectively .
on january 17 , 2013 , schlumberger announced that its board of directors had approved an increase in the quarterly dividend of 13.6% ( 13.6 % ) , to $ 0.3125 .
on january 19 , 2012 , schlumberger announced that its board of directors had approved an increase in the quarterly dividend of 10% ( 10 % ) , to $ 0.275 .
on january 21 , 2011 , schlumberger announced that its board of directors had approved an increase in the quarterly dividend of 19% ( 19 % ) , to $ 0.25 .
0160 capital expenditures were $ 4.7 billion in 2012 , $ 4.0 billion in 2011 and $ 2.9 billion in 2010 .
capital expenditures are expected to approach $ 3.9 billion for the full year 2013 .
0160 during 2012 , 2011 and 2010 schlumberger made contributions of $ 673 million , $ 601 million and $ 868 million , respectively , to its postretirement benefit plans .
the us pension plans were 82% ( 82 % ) funded at december 31 , 2012 based on the projected benefit obligation .
this compares to 87% ( 87 % ) funded at december 31 , 2011 .
schlumberger 2019s international defined benefit pension plans are a combined 88% ( 88 % ) funded at december 31 , 2012 based on the projected benefit obligation .
this compares to 88% ( 88 % ) funded at december 31 , 2011 .
schlumberger currently anticipates contributing approximately $ 650 million to its postretirement benefit plans in 2013 , subject to market and business conditions .
0160 there were $ 321 million outstanding series b debentures at december 31 , 2009 .
during 2010 , the remaining $ 320 million of the 2.125% ( 2.125 % ) series b convertible debentures due june 1 , 2023 were converted by holders into 8.0 million shares of schlumberger common stock and the remaining $ 1 million of outstanding series b debentures were redeemed for cash. .
|
| | | total cost of shares purchased | total number of shares purchased | average price paid per share |
|---:|-----:|:---------------------------------|-----------------------------------:|:-------------------------------|
| 0 | 2012 | $ 971883 | 14087.8 | $ 68.99 |
| 1 | 2011 | $ 2997688 | 36940.4 | $ 81.15 |
| 2 | 2010 | $ 1716675 | 26624.8 | $ 64.48 |
|
during the fourth quarter of 2010 , schlumberger issued 20ac1.0 billion 2.75% ( 2.75 % ) guaranteed notes due under this program .
schlumberger entered into agreements to swap these euro notes for us dollars on the date of issue until maturity , effectively making this a us denominated debt on which schlumberger will pay interest in us dollars at a rate of 2.56% ( 2.56 % ) .
during the first quarter of 2009 , schlumberger issued 20ac1.0 billion 4.50% ( 4.50 % ) guaranteed notes due 2014 under this program .
schlumberger entered into agreements to swap these euro notes for us dollars on the date of issue until maturity , effectively making this a us dollar denominated debt on which schlumberger will pay interest in us dollars at a rate of 4.95% ( 4.95 % ) .
0160 on april 17 , 2008 , the schlumberger board of directors approved an $ 8 billion share repurchase program for shares of schlumberger common stock , to be acquired in the open market before december 31 , 2011 .
on july 21 , 2011 , the schlumberger board of directors approved an extension of this repurchase program to december 31 , 2013 .
schlumberger had repurchased $ 7.12 billion of shares under this program as of december 31 , 2012 .
the following table summarizes the activity under this share repurchase program during 2012 , 2011 and 2010 : ( stated in thousands except per share amounts ) total cost of shares purchased total number of shares purchased average price paid per share ._| | | total cost of shares purchased | total number of shares purchased | average price paid per share |
|---:|-----:|:---------------------------------|-----------------------------------:|:-------------------------------|
| 0 | 2012 | $ 971883 | 14087.8 | $ 68.99 |
| 1 | 2011 | $ 2997688 | 36940.4 | $ 81.15 |
| 2 | 2010 | $ 1716675 | 26624.8 | $ 64.48 |_0160 cash flow provided by operations was $ 6.8 billion in 2012 , $ 6.1 billion in 2011 and $ 5.5 billion in 2010 .
in recent years , schlumberger has actively managed its activity levels in venezuela relative to its accounts receivable balance , and has recently experienced an increased delay in payment from its national oil company customer there .
schlumberger operates in approximately 85 countries .
at december 31 , 2012 , only five of those countries ( including venezuela ) individually accounted for greater than 5% ( 5 % ) of schlumberger 2019s accounts receivable balance of which only one , the united states , represented greater than 10% ( 10 % ) .
0160 dividends paid during 2012 , 2011 and 2010 were $ 1.43 billion , $ 1.30 billion and $ 1.04 billion , respectively .
on january 17 , 2013 , schlumberger announced that its board of directors had approved an increase in the quarterly dividend of 13.6% ( 13.6 % ) , to $ 0.3125 .
on january 19 , 2012 , schlumberger announced that its board of directors had approved an increase in the quarterly dividend of 10% ( 10 % ) , to $ 0.275 .
on january 21 , 2011 , schlumberger announced that its board of directors had approved an increase in the quarterly dividend of 19% ( 19 % ) , to $ 0.25 .
0160 capital expenditures were $ 4.7 billion in 2012 , $ 4.0 billion in 2011 and $ 2.9 billion in 2010 .
capital expenditures are expected to approach $ 3.9 billion for the full year 2013 .
0160 during 2012 , 2011 and 2010 schlumberger made contributions of $ 673 million , $ 601 million and $ 868 million , respectively , to its postretirement benefit plans .
the us pension plans were 82% ( 82 % ) funded at december 31 , 2012 based on the projected benefit obligation .
this compares to 87% ( 87 % ) funded at december 31 , 2011 .
schlumberger 2019s international defined benefit pension plans are a combined 88% ( 88 % ) funded at december 31 , 2012 based on the projected benefit obligation .
this compares to 88% ( 88 % ) funded at december 31 , 2011 .
schlumberger currently anticipates contributing approximately $ 650 million to its postretirement benefit plans in 2013 , subject to market and business conditions .
0160 there were $ 321 million outstanding series b debentures at december 31 , 2009 .
during 2010 , the remaining $ 320 million of the 2.125% ( 2.125 % ) series b convertible debentures due june 1 , 2023 were converted by holders into 8.0 million shares of schlumberger common stock and the remaining $ 1 million of outstanding series b debentures were redeemed for cash. .
| 2,012
| 44
|
SLB
|
Schlumberger
|
Energy
|
Oil & Gas Equipment & Services
|
Houston, Texas
|
1957-03-04
| 87,347
|
1926
| null | null |
finqa62
|
what portion of the total notes payable comes from u.s . commercial paper?
|
78.3%
|
divide(412.0, 526.5)
|
62 general mills amounts recorded in accumulated other comprehensive loss unrealized losses from interest rate cash flow hedges recorded in aoci as of may 27 , 2012 , totaled $ 73.6 million after tax .
these deferred losses are primarily related to interest rate swaps that we entered into in contemplation of future borrowings and other financ- ing requirements and that are being reclassified into net interest over the lives of the hedged forecasted transac- tions .
unrealized losses from foreign currency cash flow hedges recorded in aoci as of may 27 , 2012 , were $ 1.7 million after-tax .
the net amount of pre-tax gains and losses in aoci as of may 27 , 2012 , that we expect to be reclassified into net earnings within the next 12 months is $ 14.0 million of expense .
credit-risk-related contingent features certain of our derivative instruments contain provisions that require us to maintain an investment grade credit rating on our debt from each of the major credit rat- ing agencies .
if our debt were to fall below investment grade , the counterparties to the derivative instruments could request full collateralization on derivative instru- ments in net liability positions .
the aggregate fair value of all derivative instruments with credit-risk-related contingent features that were in a liability position on may 27 , 2012 , was $ 19.9 million .
we have posted col- lateral of $ 4.3 million in the normal course of business associated with these contracts .
if the credit-risk-related contingent features underlying these agreements had been triggered on may 27 , 2012 , we would have been required to post an additional $ 15.6 million of collateral to counterparties .
concentrations of credit and counterparty credit risk during fiscal 2012 , wal-mart stores , inc .
and its affili- ates ( wal-mart ) accounted for 22 percent of our con- solidated net sales and 30 percent of our net sales in the u.s .
retail segment .
no other customer accounted for 10 percent or more of our consolidated net sales .
wal- mart also represented 6 percent of our net sales in the international segment and 7 percent of our net sales in the bakeries and foodservice segment .
as of may 27 , 2012 , wal-mart accounted for 26 percent of our u.s .
retail receivables , 5 percent of our international receiv- ables , and 9 percent of our bakeries and foodservice receivables .
the five largest customers in our u.s .
retail segment accounted for 54 percent of its fiscal 2012 net sales , the five largest customers in our international segment accounted for 26 percent of its fiscal 2012 net sales , and the five largest customers in our bakeries and foodservice segment accounted for 46 percent of its fis- cal 2012 net sales .
we enter into interest rate , foreign exchange , and cer- tain commodity and equity derivatives , primarily with a diversified group of highly rated counterparties .
we continually monitor our positions and the credit rat- ings of the counterparties involved and , by policy , limit the amount of credit exposure to any one party .
these transactions may expose us to potential losses due to the risk of nonperformance by these counterparties ; however , we have not incurred a material loss .
we also enter into commodity futures transactions through vari- ous regulated exchanges .
the amount of loss due to the credit risk of the coun- terparties , should the counterparties fail to perform according to the terms of the contracts , is $ 19.5 million against which we do not hold collateral .
under the terms of master swap agreements , some of our transactions require collateral or other security to support financial instruments subject to threshold levels of exposure and counterparty credit risk .
collateral assets are either cash or u.s .
treasury instruments and are held in a trust account that we may access if the counterparty defaults .
note 8 .
debt notes payable the components of notes payable and their respective weighted-average interest rates at the end of the periods were as follows: .
|
to ensure availability of funds , we maintain bank credit lines sufficient to cover our outstanding short- term borrowings .
commercial paper is a continuing source of short-term financing .
we have commercial paper programs available to us in the united states and europe .
in april 2012 , we entered into fee-paid commit- ted credit lines , consisting of a $ 1.0 billion facility sched- uled to expire in april 2015 and a $ 1.7 billion facility .
|
| | in millions | may 27 2012 notes payable | may 27 2012 weighted- average interest rate | may 27 2012 notespayable | weighted-averageinterest rate |
|---:|:-----------------------|:----------------------------|:----------------------------------------------|:---------------------------|:--------------------------------|
| 0 | u.s . commercial paper | $ 412.0 | 0.2% ( 0.2 % ) | $ 192.5 | 0.2% ( 0.2 % ) |
| 1 | financial institutions | 114.5 | 10.0 | 118.8 | 11.5 |
| 2 | total | $ 526.5 | 2.4% ( 2.4 % ) | $ 311.3 | 4.5% ( 4.5 % ) |
|
62 general mills amounts recorded in accumulated other comprehensive loss unrealized losses from interest rate cash flow hedges recorded in aoci as of may 27 , 2012 , totaled $ 73.6 million after tax .
these deferred losses are primarily related to interest rate swaps that we entered into in contemplation of future borrowings and other financ- ing requirements and that are being reclassified into net interest over the lives of the hedged forecasted transac- tions .
unrealized losses from foreign currency cash flow hedges recorded in aoci as of may 27 , 2012 , were $ 1.7 million after-tax .
the net amount of pre-tax gains and losses in aoci as of may 27 , 2012 , that we expect to be reclassified into net earnings within the next 12 months is $ 14.0 million of expense .
credit-risk-related contingent features certain of our derivative instruments contain provisions that require us to maintain an investment grade credit rating on our debt from each of the major credit rat- ing agencies .
if our debt were to fall below investment grade , the counterparties to the derivative instruments could request full collateralization on derivative instru- ments in net liability positions .
the aggregate fair value of all derivative instruments with credit-risk-related contingent features that were in a liability position on may 27 , 2012 , was $ 19.9 million .
we have posted col- lateral of $ 4.3 million in the normal course of business associated with these contracts .
if the credit-risk-related contingent features underlying these agreements had been triggered on may 27 , 2012 , we would have been required to post an additional $ 15.6 million of collateral to counterparties .
concentrations of credit and counterparty credit risk during fiscal 2012 , wal-mart stores , inc .
and its affili- ates ( wal-mart ) accounted for 22 percent of our con- solidated net sales and 30 percent of our net sales in the u.s .
retail segment .
no other customer accounted for 10 percent or more of our consolidated net sales .
wal- mart also represented 6 percent of our net sales in the international segment and 7 percent of our net sales in the bakeries and foodservice segment .
as of may 27 , 2012 , wal-mart accounted for 26 percent of our u.s .
retail receivables , 5 percent of our international receiv- ables , and 9 percent of our bakeries and foodservice receivables .
the five largest customers in our u.s .
retail segment accounted for 54 percent of its fiscal 2012 net sales , the five largest customers in our international segment accounted for 26 percent of its fiscal 2012 net sales , and the five largest customers in our bakeries and foodservice segment accounted for 46 percent of its fis- cal 2012 net sales .
we enter into interest rate , foreign exchange , and cer- tain commodity and equity derivatives , primarily with a diversified group of highly rated counterparties .
we continually monitor our positions and the credit rat- ings of the counterparties involved and , by policy , limit the amount of credit exposure to any one party .
these transactions may expose us to potential losses due to the risk of nonperformance by these counterparties ; however , we have not incurred a material loss .
we also enter into commodity futures transactions through vari- ous regulated exchanges .
the amount of loss due to the credit risk of the coun- terparties , should the counterparties fail to perform according to the terms of the contracts , is $ 19.5 million against which we do not hold collateral .
under the terms of master swap agreements , some of our transactions require collateral or other security to support financial instruments subject to threshold levels of exposure and counterparty credit risk .
collateral assets are either cash or u.s .
treasury instruments and are held in a trust account that we may access if the counterparty defaults .
note 8 .
debt notes payable the components of notes payable and their respective weighted-average interest rates at the end of the periods were as follows: ._| | in millions | may 27 2012 notes payable | may 27 2012 weighted- average interest rate | may 27 2012 notespayable | weighted-averageinterest rate |
|---:|:-----------------------|:----------------------------|:----------------------------------------------|:---------------------------|:--------------------------------|
| 0 | u.s . commercial paper | $ 412.0 | 0.2% ( 0.2 % ) | $ 192.5 | 0.2% ( 0.2 % ) |
| 1 | financial institutions | 114.5 | 10.0 | 118.8 | 11.5 |
| 2 | total | $ 526.5 | 2.4% ( 2.4 % ) | $ 311.3 | 4.5% ( 4.5 % ) |_to ensure availability of funds , we maintain bank credit lines sufficient to cover our outstanding short- term borrowings .
commercial paper is a continuing source of short-term financing .
we have commercial paper programs available to us in the united states and europe .
in april 2012 , we entered into fee-paid commit- ted credit lines , consisting of a $ 1.0 billion facility sched- uled to expire in april 2015 and a $ 1.7 billion facility .
| 2,012
| 64
|
GIS
|
General Mills
|
Consumer Staples
|
Packaged Foods & Meats
|
Golden Valley, Minnesota
|
1957-03-04
| 40,704
|
1856
|
what portion of the total notes payable comes from u.s . commercial paper?
|
78.3%
|
divide(412.0, 526.5)
|
62 general mills amounts recorded in accumulated other comprehensive loss unrealized losses from interest rate cash flow hedges recorded in aoci as of may 27 , 2012 , totaled $ 73.6 million after tax .
these deferred losses are primarily related to interest rate swaps that we entered into in contemplation of future borrowings and other financ- ing requirements and that are being reclassified into net interest over the lives of the hedged forecasted transac- tions .
unrealized losses from foreign currency cash flow hedges recorded in aoci as of may 27 , 2012 , were $ 1.7 million after-tax .
the net amount of pre-tax gains and losses in aoci as of may 27 , 2012 , that we expect to be reclassified into net earnings within the next 12 months is $ 14.0 million of expense .
credit-risk-related contingent features certain of our derivative instruments contain provisions that require us to maintain an investment grade credit rating on our debt from each of the major credit rat- ing agencies .
if our debt were to fall below investment grade , the counterparties to the derivative instruments could request full collateralization on derivative instru- ments in net liability positions .
the aggregate fair value of all derivative instruments with credit-risk-related contingent features that were in a liability position on may 27 , 2012 , was $ 19.9 million .
we have posted col- lateral of $ 4.3 million in the normal course of business associated with these contracts .
if the credit-risk-related contingent features underlying these agreements had been triggered on may 27 , 2012 , we would have been required to post an additional $ 15.6 million of collateral to counterparties .
concentrations of credit and counterparty credit risk during fiscal 2012 , wal-mart stores , inc .
and its affili- ates ( wal-mart ) accounted for 22 percent of our con- solidated net sales and 30 percent of our net sales in the u.s .
retail segment .
no other customer accounted for 10 percent or more of our consolidated net sales .
wal- mart also represented 6 percent of our net sales in the international segment and 7 percent of our net sales in the bakeries and foodservice segment .
as of may 27 , 2012 , wal-mart accounted for 26 percent of our u.s .
retail receivables , 5 percent of our international receiv- ables , and 9 percent of our bakeries and foodservice receivables .
the five largest customers in our u.s .
retail segment accounted for 54 percent of its fiscal 2012 net sales , the five largest customers in our international segment accounted for 26 percent of its fiscal 2012 net sales , and the five largest customers in our bakeries and foodservice segment accounted for 46 percent of its fis- cal 2012 net sales .
we enter into interest rate , foreign exchange , and cer- tain commodity and equity derivatives , primarily with a diversified group of highly rated counterparties .
we continually monitor our positions and the credit rat- ings of the counterparties involved and , by policy , limit the amount of credit exposure to any one party .
these transactions may expose us to potential losses due to the risk of nonperformance by these counterparties ; however , we have not incurred a material loss .
we also enter into commodity futures transactions through vari- ous regulated exchanges .
the amount of loss due to the credit risk of the coun- terparties , should the counterparties fail to perform according to the terms of the contracts , is $ 19.5 million against which we do not hold collateral .
under the terms of master swap agreements , some of our transactions require collateral or other security to support financial instruments subject to threshold levels of exposure and counterparty credit risk .
collateral assets are either cash or u.s .
treasury instruments and are held in a trust account that we may access if the counterparty defaults .
note 8 .
debt notes payable the components of notes payable and their respective weighted-average interest rates at the end of the periods were as follows: .
|
to ensure availability of funds , we maintain bank credit lines sufficient to cover our outstanding short- term borrowings .
commercial paper is a continuing source of short-term financing .
we have commercial paper programs available to us in the united states and europe .
in april 2012 , we entered into fee-paid commit- ted credit lines , consisting of a $ 1.0 billion facility sched- uled to expire in april 2015 and a $ 1.7 billion facility .
|
| | in millions | may 27 2012 notes payable | may 27 2012 weighted- average interest rate | may 27 2012 notespayable | weighted-averageinterest rate |
|---:|:-----------------------|:----------------------------|:----------------------------------------------|:---------------------------|:--------------------------------|
| 0 | u.s . commercial paper | $ 412.0 | 0.2% ( 0.2 % ) | $ 192.5 | 0.2% ( 0.2 % ) |
| 1 | financial institutions | 114.5 | 10.0 | 118.8 | 11.5 |
| 2 | total | $ 526.5 | 2.4% ( 2.4 % ) | $ 311.3 | 4.5% ( 4.5 % ) |
|
62 general mills amounts recorded in accumulated other comprehensive loss unrealized losses from interest rate cash flow hedges recorded in aoci as of may 27 , 2012 , totaled $ 73.6 million after tax .
these deferred losses are primarily related to interest rate swaps that we entered into in contemplation of future borrowings and other financ- ing requirements and that are being reclassified into net interest over the lives of the hedged forecasted transac- tions .
unrealized losses from foreign currency cash flow hedges recorded in aoci as of may 27 , 2012 , were $ 1.7 million after-tax .
the net amount of pre-tax gains and losses in aoci as of may 27 , 2012 , that we expect to be reclassified into net earnings within the next 12 months is $ 14.0 million of expense .
credit-risk-related contingent features certain of our derivative instruments contain provisions that require us to maintain an investment grade credit rating on our debt from each of the major credit rat- ing agencies .
if our debt were to fall below investment grade , the counterparties to the derivative instruments could request full collateralization on derivative instru- ments in net liability positions .
the aggregate fair value of all derivative instruments with credit-risk-related contingent features that were in a liability position on may 27 , 2012 , was $ 19.9 million .
we have posted col- lateral of $ 4.3 million in the normal course of business associated with these contracts .
if the credit-risk-related contingent features underlying these agreements had been triggered on may 27 , 2012 , we would have been required to post an additional $ 15.6 million of collateral to counterparties .
concentrations of credit and counterparty credit risk during fiscal 2012 , wal-mart stores , inc .
and its affili- ates ( wal-mart ) accounted for 22 percent of our con- solidated net sales and 30 percent of our net sales in the u.s .
retail segment .
no other customer accounted for 10 percent or more of our consolidated net sales .
wal- mart also represented 6 percent of our net sales in the international segment and 7 percent of our net sales in the bakeries and foodservice segment .
as of may 27 , 2012 , wal-mart accounted for 26 percent of our u.s .
retail receivables , 5 percent of our international receiv- ables , and 9 percent of our bakeries and foodservice receivables .
the five largest customers in our u.s .
retail segment accounted for 54 percent of its fiscal 2012 net sales , the five largest customers in our international segment accounted for 26 percent of its fiscal 2012 net sales , and the five largest customers in our bakeries and foodservice segment accounted for 46 percent of its fis- cal 2012 net sales .
we enter into interest rate , foreign exchange , and cer- tain commodity and equity derivatives , primarily with a diversified group of highly rated counterparties .
we continually monitor our positions and the credit rat- ings of the counterparties involved and , by policy , limit the amount of credit exposure to any one party .
these transactions may expose us to potential losses due to the risk of nonperformance by these counterparties ; however , we have not incurred a material loss .
we also enter into commodity futures transactions through vari- ous regulated exchanges .
the amount of loss due to the credit risk of the coun- terparties , should the counterparties fail to perform according to the terms of the contracts , is $ 19.5 million against which we do not hold collateral .
under the terms of master swap agreements , some of our transactions require collateral or other security to support financial instruments subject to threshold levels of exposure and counterparty credit risk .
collateral assets are either cash or u.s .
treasury instruments and are held in a trust account that we may access if the counterparty defaults .
note 8 .
debt notes payable the components of notes payable and their respective weighted-average interest rates at the end of the periods were as follows: ._| | in millions | may 27 2012 notes payable | may 27 2012 weighted- average interest rate | may 27 2012 notespayable | weighted-averageinterest rate |
|---:|:-----------------------|:----------------------------|:----------------------------------------------|:---------------------------|:--------------------------------|
| 0 | u.s . commercial paper | $ 412.0 | 0.2% ( 0.2 % ) | $ 192.5 | 0.2% ( 0.2 % ) |
| 1 | financial institutions | 114.5 | 10.0 | 118.8 | 11.5 |
| 2 | total | $ 526.5 | 2.4% ( 2.4 % ) | $ 311.3 | 4.5% ( 4.5 % ) |_to ensure availability of funds , we maintain bank credit lines sufficient to cover our outstanding short- term borrowings .
commercial paper is a continuing source of short-term financing .
we have commercial paper programs available to us in the united states and europe .
in april 2012 , we entered into fee-paid commit- ted credit lines , consisting of a $ 1.0 billion facility sched- uled to expire in april 2015 and a $ 1.7 billion facility .
| 2,012
| 64
|
GIS
|
General Mills
|
Consumer Staples
|
Packaged Foods & Meats
|
Golden Valley, Minnesota
|
1957-03-04
| 40,704
|
1856
| null | null |
finqa63
|
what is the growth rate of the net earnings attributable to pmi?
|
-13.3%
|
divide(subtract(6035, 6967), 6967)
|
the fair value of the psu award at the date of grant is amortized to expense over the performance period , which is typically three years after the date of the award , or upon death , disability or reaching the age of 58 .
as of december 31 , 2017 , pmi had $ 34 million of total unrecognized compensation cost related to non-vested psu awards .
this cost is recognized over a weighted-average performance cycle period of two years , or upon death , disability or reaching the age of 58 .
during the years ended december 31 , 2017 , and 2016 , there were no psu awards that vested .
pmi did not grant any psu awards during note 10 .
earnings per share : unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents are participating securities and therefore are included in pmi 2019s earnings per share calculation pursuant to the two-class method .
basic and diluted earnings per share ( 201ceps 201d ) were calculated using the following: .
|
for the 2017 , 2016 and 2015 computations , there were no antidilutive stock options. .
|
| | ( in millions ) | for the years ended december 31 , 2017 | for the years ended december 31 , 2016 | for the years ended december 31 , 2015 |
|---:|:---------------------------------------------------------------------------------------|:-----------------------------------------|:-----------------------------------------|:-----------------------------------------|
| 0 | net earnings attributable to pmi | $ 6035 | $ 6967 | $ 6873 |
| 1 | less distributed and undistributed earnings attributable to share-based payment awards | 14 | 19 | 24 |
| 2 | net earnings for basic and diluted eps | $ 6021 | $ 6948 | $ 6849 |
| 3 | weighted-average shares for basic eps | 1552 | 1551 | 1549 |
| 4 | plus contingently issuable performance stock units ( psus ) | 1 | 2014 | 2014 |
| 5 | weighted-average shares for diluted eps | 1553 | 1551 | 1549 |
|
the fair value of the psu award at the date of grant is amortized to expense over the performance period , which is typically three years after the date of the award , or upon death , disability or reaching the age of 58 .
as of december 31 , 2017 , pmi had $ 34 million of total unrecognized compensation cost related to non-vested psu awards .
this cost is recognized over a weighted-average performance cycle period of two years , or upon death , disability or reaching the age of 58 .
during the years ended december 31 , 2017 , and 2016 , there were no psu awards that vested .
pmi did not grant any psu awards during note 10 .
earnings per share : unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents are participating securities and therefore are included in pmi 2019s earnings per share calculation pursuant to the two-class method .
basic and diluted earnings per share ( 201ceps 201d ) were calculated using the following: ._| | ( in millions ) | for the years ended december 31 , 2017 | for the years ended december 31 , 2016 | for the years ended december 31 , 2015 |
|---:|:---------------------------------------------------------------------------------------|:-----------------------------------------|:-----------------------------------------|:-----------------------------------------|
| 0 | net earnings attributable to pmi | $ 6035 | $ 6967 | $ 6873 |
| 1 | less distributed and undistributed earnings attributable to share-based payment awards | 14 | 19 | 24 |
| 2 | net earnings for basic and diluted eps | $ 6021 | $ 6948 | $ 6849 |
| 3 | weighted-average shares for basic eps | 1552 | 1551 | 1549 |
| 4 | plus contingently issuable performance stock units ( psus ) | 1 | 2014 | 2014 |
| 5 | weighted-average shares for diluted eps | 1553 | 1551 | 1549 |_for the 2017 , 2016 and 2015 computations , there were no antidilutive stock options. .
| 2,017
| 99
|
PM
|
Philip Morris International
|
Consumer Staples
|
Tobacco
|
New York City, New York
|
2008-03-31
| 1,413,329
|
2008 (1847)
|
what is the growth rate of the net earnings attributable to pmi?
|
-13.3%
|
divide(subtract(6035, 6967), 6967)
|
the fair value of the psu award at the date of grant is amortized to expense over the performance period , which is typically three years after the date of the award , or upon death , disability or reaching the age of 58 .
as of december 31 , 2017 , pmi had $ 34 million of total unrecognized compensation cost related to non-vested psu awards .
this cost is recognized over a weighted-average performance cycle period of two years , or upon death , disability or reaching the age of 58 .
during the years ended december 31 , 2017 , and 2016 , there were no psu awards that vested .
pmi did not grant any psu awards during note 10 .
earnings per share : unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents are participating securities and therefore are included in pmi 2019s earnings per share calculation pursuant to the two-class method .
basic and diluted earnings per share ( 201ceps 201d ) were calculated using the following: .
|
for the 2017 , 2016 and 2015 computations , there were no antidilutive stock options. .
|
| | ( in millions ) | for the years ended december 31 , 2017 | for the years ended december 31 , 2016 | for the years ended december 31 , 2015 |
|---:|:---------------------------------------------------------------------------------------|:-----------------------------------------|:-----------------------------------------|:-----------------------------------------|
| 0 | net earnings attributable to pmi | $ 6035 | $ 6967 | $ 6873 |
| 1 | less distributed and undistributed earnings attributable to share-based payment awards | 14 | 19 | 24 |
| 2 | net earnings for basic and diluted eps | $ 6021 | $ 6948 | $ 6849 |
| 3 | weighted-average shares for basic eps | 1552 | 1551 | 1549 |
| 4 | plus contingently issuable performance stock units ( psus ) | 1 | 2014 | 2014 |
| 5 | weighted-average shares for diluted eps | 1553 | 1551 | 1549 |
|
the fair value of the psu award at the date of grant is amortized to expense over the performance period , which is typically three years after the date of the award , or upon death , disability or reaching the age of 58 .
as of december 31 , 2017 , pmi had $ 34 million of total unrecognized compensation cost related to non-vested psu awards .
this cost is recognized over a weighted-average performance cycle period of two years , or upon death , disability or reaching the age of 58 .
during the years ended december 31 , 2017 , and 2016 , there were no psu awards that vested .
pmi did not grant any psu awards during note 10 .
earnings per share : unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents are participating securities and therefore are included in pmi 2019s earnings per share calculation pursuant to the two-class method .
basic and diluted earnings per share ( 201ceps 201d ) were calculated using the following: ._| | ( in millions ) | for the years ended december 31 , 2017 | for the years ended december 31 , 2016 | for the years ended december 31 , 2015 |
|---:|:---------------------------------------------------------------------------------------|:-----------------------------------------|:-----------------------------------------|:-----------------------------------------|
| 0 | net earnings attributable to pmi | $ 6035 | $ 6967 | $ 6873 |
| 1 | less distributed and undistributed earnings attributable to share-based payment awards | 14 | 19 | 24 |
| 2 | net earnings for basic and diluted eps | $ 6021 | $ 6948 | $ 6849 |
| 3 | weighted-average shares for basic eps | 1552 | 1551 | 1549 |
| 4 | plus contingently issuable performance stock units ( psus ) | 1 | 2014 | 2014 |
| 5 | weighted-average shares for diluted eps | 1553 | 1551 | 1549 |_for the 2017 , 2016 and 2015 computations , there were no antidilutive stock options. .
| 2,017
| 99
|
PM
|
Philip Morris International
|
Consumer Staples
|
Tobacco
|
New York City, New York
|
2008-03-31
| 1,413,329
|
2008 (1847)
| null | null |
finqa64
|
what percentage of december 31 , 2007 , total future minimum commitments under existing non-cancelable operating leases and purchase obligations were due to purchase obligations for the year of 2008?
|
93%
|
divide(1953, 2089)
|
settlements , and the expiration of statutes of limi- tation , the company currently estimates that the amount of unrecognized tax benefits could be reduced by up to $ 365 million during the next twelve months , with no significant impact on earnings or cash tax payments .
while the company believes that it is adequately accrued for possible audit adjust- ments , the final resolution of these examinations cannot be determined at this time and could result in final settlements that differ from current estimates .
the company recorded an income tax provision for 2007 of $ 415 million , including a $ 41 million benefit related to the effective settlement of tax audits , and $ 8 million of other tax benefits .
excluding the impact of special items , the tax provision was $ 423 million , or 30% ( 30 % ) of pre-tax earnings before minority interest .
the company recorded an income tax provision for 2006 of $ 1.9 billion , consisting of a $ 1.6 billion deferred tax provision ( principally reflecting deferred taxes on the 2006 transformation plan forestland sales ) and a $ 300 million current tax provision .
the provision also includes an $ 11 million provision related to a special tax adjustment .
excluding the impact of special items , the tax provision was $ 272 million , or 29% ( 29 % ) of pre-tax earnings before minority interest .
the company recorded an income tax benefit for 2005 of $ 407 million , including a $ 454 million net tax benefit related to a special tax adjustment , consisting of a tax benefit of $ 627 million resulting from an agreement reached with the u.s .
internal revenue service concerning the 1997 through 2000 u.s .
federal income tax audit , a $ 142 million charge for deferred taxes related to earnings repatriations under the american jobs creation act of 2004 , and $ 31 million of other tax charges .
excluding the impact of special items , the tax provision was $ 83 million , or 20% ( 20 % ) of pre-tax earnings before minority interest .
international paper has non-u.s .
net operating loss carryforwards of approximately $ 352 million that expire as follows : 2008 through 2017 2014 $ 14 million and indefinite carryforwards of $ 338 million .
interna- tional paper has tax benefits from net operating loss carryforwards for state taxing jurisdictions of approximately $ 258 million that expire as follows : 2008 through 2017 2014$ 83 million and 2018 through 2027 2014$ 175 million .
international paper also has federal , non-u.s .
and state tax credit carryforwards that expire as follows : 2008 through 2017 2014 $ 67 million , 2018 through 2027 2014 $ 92 million , and indefinite carryforwards 2014 $ 316 million .
further , international paper has state capital loss carryfor- wards that expire as follows : 2008 through 2017 2014 $ 9 million .
deferred income taxes are not provided for tempo- rary differences of approximately $ 3.7 billion , $ 2.7 billion and $ 2.4 billion as of december 31 , 2007 , 2006 and 2005 , respectively , representing earnings of non-u.s .
subsidiaries intended to be permanently reinvested .
computation of the potential deferred tax liability associated with these undistributed earnings and other basis differences is not practicable .
note 10 commitments and contingent liabilities certain property , machinery and equipment are leased under cancelable and non-cancelable agree- ments .
unconditional purchase obligations have been entered into in the ordinary course of business , prin- cipally for capital projects and the purchase of cer- tain pulpwood , wood chips , raw materials , energy and services , including fiber supply agreements to purchase pulpwood that were entered into con- currently with the 2006 transformation plan forest- land sales ( see note 7 ) .
at december 31 , 2007 , total future minimum commitments under existing non-cancelable operat- ing leases and purchase obligations were as follows : in millions 2008 2009 2010 2011 2012 thereafter .
|
( a ) includes $ 2.1 billion relating to fiber supply agreements entered into at the time of the transformation plan forestland sales .
rent expense was $ 168 million , $ 217 million and $ 216 million for 2007 , 2006 and 2005 , respectively .
international paper entered into an agreement in 2000 to guarantee , for a fee , an unsecured con- tractual credit agreement between a financial institution and an unrelated third-party customer .
in the fourth quarter of 2006 , the customer cancelled the agreement and paid the company a fee of $ 11 million , which is included in cost of products sold in the accompanying consolidated statement of oper- ations .
the company has no future obligations under this agreement. .
|
| | in millions | 2008 | 2009 | 2010 | 2011 | 2012 | thereafter |
|---:|:---------------------------|:-------|:-------|:-------|:-------|:-------|:-------------|
| 0 | lease obligations | $ 136 | $ 116 | $ 101 | $ 84 | $ 67 | $ 92 |
| 1 | purchase obligations ( a ) | 1953 | 294 | 261 | 235 | 212 | 1480 |
| 2 | total | $ 2089 | $ 410 | $ 362 | $ 319 | $ 279 | $ 1572 |
|
settlements , and the expiration of statutes of limi- tation , the company currently estimates that the amount of unrecognized tax benefits could be reduced by up to $ 365 million during the next twelve months , with no significant impact on earnings or cash tax payments .
while the company believes that it is adequately accrued for possible audit adjust- ments , the final resolution of these examinations cannot be determined at this time and could result in final settlements that differ from current estimates .
the company recorded an income tax provision for 2007 of $ 415 million , including a $ 41 million benefit related to the effective settlement of tax audits , and $ 8 million of other tax benefits .
excluding the impact of special items , the tax provision was $ 423 million , or 30% ( 30 % ) of pre-tax earnings before minority interest .
the company recorded an income tax provision for 2006 of $ 1.9 billion , consisting of a $ 1.6 billion deferred tax provision ( principally reflecting deferred taxes on the 2006 transformation plan forestland sales ) and a $ 300 million current tax provision .
the provision also includes an $ 11 million provision related to a special tax adjustment .
excluding the impact of special items , the tax provision was $ 272 million , or 29% ( 29 % ) of pre-tax earnings before minority interest .
the company recorded an income tax benefit for 2005 of $ 407 million , including a $ 454 million net tax benefit related to a special tax adjustment , consisting of a tax benefit of $ 627 million resulting from an agreement reached with the u.s .
internal revenue service concerning the 1997 through 2000 u.s .
federal income tax audit , a $ 142 million charge for deferred taxes related to earnings repatriations under the american jobs creation act of 2004 , and $ 31 million of other tax charges .
excluding the impact of special items , the tax provision was $ 83 million , or 20% ( 20 % ) of pre-tax earnings before minority interest .
international paper has non-u.s .
net operating loss carryforwards of approximately $ 352 million that expire as follows : 2008 through 2017 2014 $ 14 million and indefinite carryforwards of $ 338 million .
interna- tional paper has tax benefits from net operating loss carryforwards for state taxing jurisdictions of approximately $ 258 million that expire as follows : 2008 through 2017 2014$ 83 million and 2018 through 2027 2014$ 175 million .
international paper also has federal , non-u.s .
and state tax credit carryforwards that expire as follows : 2008 through 2017 2014 $ 67 million , 2018 through 2027 2014 $ 92 million , and indefinite carryforwards 2014 $ 316 million .
further , international paper has state capital loss carryfor- wards that expire as follows : 2008 through 2017 2014 $ 9 million .
deferred income taxes are not provided for tempo- rary differences of approximately $ 3.7 billion , $ 2.7 billion and $ 2.4 billion as of december 31 , 2007 , 2006 and 2005 , respectively , representing earnings of non-u.s .
subsidiaries intended to be permanently reinvested .
computation of the potential deferred tax liability associated with these undistributed earnings and other basis differences is not practicable .
note 10 commitments and contingent liabilities certain property , machinery and equipment are leased under cancelable and non-cancelable agree- ments .
unconditional purchase obligations have been entered into in the ordinary course of business , prin- cipally for capital projects and the purchase of cer- tain pulpwood , wood chips , raw materials , energy and services , including fiber supply agreements to purchase pulpwood that were entered into con- currently with the 2006 transformation plan forest- land sales ( see note 7 ) .
at december 31 , 2007 , total future minimum commitments under existing non-cancelable operat- ing leases and purchase obligations were as follows : in millions 2008 2009 2010 2011 2012 thereafter ._| | in millions | 2008 | 2009 | 2010 | 2011 | 2012 | thereafter |
|---:|:---------------------------|:-------|:-------|:-------|:-------|:-------|:-------------|
| 0 | lease obligations | $ 136 | $ 116 | $ 101 | $ 84 | $ 67 | $ 92 |
| 1 | purchase obligations ( a ) | 1953 | 294 | 261 | 235 | 212 | 1480 |
| 2 | total | $ 2089 | $ 410 | $ 362 | $ 319 | $ 279 | $ 1572 |_( a ) includes $ 2.1 billion relating to fiber supply agreements entered into at the time of the transformation plan forestland sales .
rent expense was $ 168 million , $ 217 million and $ 216 million for 2007 , 2006 and 2005 , respectively .
international paper entered into an agreement in 2000 to guarantee , for a fee , an unsecured con- tractual credit agreement between a financial institution and an unrelated third-party customer .
in the fourth quarter of 2006 , the customer cancelled the agreement and paid the company a fee of $ 11 million , which is included in cost of products sold in the accompanying consolidated statement of oper- ations .
the company has no future obligations under this agreement. .
| 2,007
| 75
|
IP
|
International Paper
|
Materials
|
Paper & Plastic Packaging Products & Materials
|
Memphis, Tennessee
|
1957-03-04
| 51,434
|
1898
|
what percentage of december 31 , 2007 , total future minimum commitments under existing non-cancelable operating leases and purchase obligations were due to purchase obligations for the year of 2008?
|
93%
|
divide(1953, 2089)
|
settlements , and the expiration of statutes of limi- tation , the company currently estimates that the amount of unrecognized tax benefits could be reduced by up to $ 365 million during the next twelve months , with no significant impact on earnings or cash tax payments .
while the company believes that it is adequately accrued for possible audit adjust- ments , the final resolution of these examinations cannot be determined at this time and could result in final settlements that differ from current estimates .
the company recorded an income tax provision for 2007 of $ 415 million , including a $ 41 million benefit related to the effective settlement of tax audits , and $ 8 million of other tax benefits .
excluding the impact of special items , the tax provision was $ 423 million , or 30% ( 30 % ) of pre-tax earnings before minority interest .
the company recorded an income tax provision for 2006 of $ 1.9 billion , consisting of a $ 1.6 billion deferred tax provision ( principally reflecting deferred taxes on the 2006 transformation plan forestland sales ) and a $ 300 million current tax provision .
the provision also includes an $ 11 million provision related to a special tax adjustment .
excluding the impact of special items , the tax provision was $ 272 million , or 29% ( 29 % ) of pre-tax earnings before minority interest .
the company recorded an income tax benefit for 2005 of $ 407 million , including a $ 454 million net tax benefit related to a special tax adjustment , consisting of a tax benefit of $ 627 million resulting from an agreement reached with the u.s .
internal revenue service concerning the 1997 through 2000 u.s .
federal income tax audit , a $ 142 million charge for deferred taxes related to earnings repatriations under the american jobs creation act of 2004 , and $ 31 million of other tax charges .
excluding the impact of special items , the tax provision was $ 83 million , or 20% ( 20 % ) of pre-tax earnings before minority interest .
international paper has non-u.s .
net operating loss carryforwards of approximately $ 352 million that expire as follows : 2008 through 2017 2014 $ 14 million and indefinite carryforwards of $ 338 million .
interna- tional paper has tax benefits from net operating loss carryforwards for state taxing jurisdictions of approximately $ 258 million that expire as follows : 2008 through 2017 2014$ 83 million and 2018 through 2027 2014$ 175 million .
international paper also has federal , non-u.s .
and state tax credit carryforwards that expire as follows : 2008 through 2017 2014 $ 67 million , 2018 through 2027 2014 $ 92 million , and indefinite carryforwards 2014 $ 316 million .
further , international paper has state capital loss carryfor- wards that expire as follows : 2008 through 2017 2014 $ 9 million .
deferred income taxes are not provided for tempo- rary differences of approximately $ 3.7 billion , $ 2.7 billion and $ 2.4 billion as of december 31 , 2007 , 2006 and 2005 , respectively , representing earnings of non-u.s .
subsidiaries intended to be permanently reinvested .
computation of the potential deferred tax liability associated with these undistributed earnings and other basis differences is not practicable .
note 10 commitments and contingent liabilities certain property , machinery and equipment are leased under cancelable and non-cancelable agree- ments .
unconditional purchase obligations have been entered into in the ordinary course of business , prin- cipally for capital projects and the purchase of cer- tain pulpwood , wood chips , raw materials , energy and services , including fiber supply agreements to purchase pulpwood that were entered into con- currently with the 2006 transformation plan forest- land sales ( see note 7 ) .
at december 31 , 2007 , total future minimum commitments under existing non-cancelable operat- ing leases and purchase obligations were as follows : in millions 2008 2009 2010 2011 2012 thereafter .
|
( a ) includes $ 2.1 billion relating to fiber supply agreements entered into at the time of the transformation plan forestland sales .
rent expense was $ 168 million , $ 217 million and $ 216 million for 2007 , 2006 and 2005 , respectively .
international paper entered into an agreement in 2000 to guarantee , for a fee , an unsecured con- tractual credit agreement between a financial institution and an unrelated third-party customer .
in the fourth quarter of 2006 , the customer cancelled the agreement and paid the company a fee of $ 11 million , which is included in cost of products sold in the accompanying consolidated statement of oper- ations .
the company has no future obligations under this agreement. .
|
| | in millions | 2008 | 2009 | 2010 | 2011 | 2012 | thereafter |
|---:|:---------------------------|:-------|:-------|:-------|:-------|:-------|:-------------|
| 0 | lease obligations | $ 136 | $ 116 | $ 101 | $ 84 | $ 67 | $ 92 |
| 1 | purchase obligations ( a ) | 1953 | 294 | 261 | 235 | 212 | 1480 |
| 2 | total | $ 2089 | $ 410 | $ 362 | $ 319 | $ 279 | $ 1572 |
|
settlements , and the expiration of statutes of limi- tation , the company currently estimates that the amount of unrecognized tax benefits could be reduced by up to $ 365 million during the next twelve months , with no significant impact on earnings or cash tax payments .
while the company believes that it is adequately accrued for possible audit adjust- ments , the final resolution of these examinations cannot be determined at this time and could result in final settlements that differ from current estimates .
the company recorded an income tax provision for 2007 of $ 415 million , including a $ 41 million benefit related to the effective settlement of tax audits , and $ 8 million of other tax benefits .
excluding the impact of special items , the tax provision was $ 423 million , or 30% ( 30 % ) of pre-tax earnings before minority interest .
the company recorded an income tax provision for 2006 of $ 1.9 billion , consisting of a $ 1.6 billion deferred tax provision ( principally reflecting deferred taxes on the 2006 transformation plan forestland sales ) and a $ 300 million current tax provision .
the provision also includes an $ 11 million provision related to a special tax adjustment .
excluding the impact of special items , the tax provision was $ 272 million , or 29% ( 29 % ) of pre-tax earnings before minority interest .
the company recorded an income tax benefit for 2005 of $ 407 million , including a $ 454 million net tax benefit related to a special tax adjustment , consisting of a tax benefit of $ 627 million resulting from an agreement reached with the u.s .
internal revenue service concerning the 1997 through 2000 u.s .
federal income tax audit , a $ 142 million charge for deferred taxes related to earnings repatriations under the american jobs creation act of 2004 , and $ 31 million of other tax charges .
excluding the impact of special items , the tax provision was $ 83 million , or 20% ( 20 % ) of pre-tax earnings before minority interest .
international paper has non-u.s .
net operating loss carryforwards of approximately $ 352 million that expire as follows : 2008 through 2017 2014 $ 14 million and indefinite carryforwards of $ 338 million .
interna- tional paper has tax benefits from net operating loss carryforwards for state taxing jurisdictions of approximately $ 258 million that expire as follows : 2008 through 2017 2014$ 83 million and 2018 through 2027 2014$ 175 million .
international paper also has federal , non-u.s .
and state tax credit carryforwards that expire as follows : 2008 through 2017 2014 $ 67 million , 2018 through 2027 2014 $ 92 million , and indefinite carryforwards 2014 $ 316 million .
further , international paper has state capital loss carryfor- wards that expire as follows : 2008 through 2017 2014 $ 9 million .
deferred income taxes are not provided for tempo- rary differences of approximately $ 3.7 billion , $ 2.7 billion and $ 2.4 billion as of december 31 , 2007 , 2006 and 2005 , respectively , representing earnings of non-u.s .
subsidiaries intended to be permanently reinvested .
computation of the potential deferred tax liability associated with these undistributed earnings and other basis differences is not practicable .
note 10 commitments and contingent liabilities certain property , machinery and equipment are leased under cancelable and non-cancelable agree- ments .
unconditional purchase obligations have been entered into in the ordinary course of business , prin- cipally for capital projects and the purchase of cer- tain pulpwood , wood chips , raw materials , energy and services , including fiber supply agreements to purchase pulpwood that were entered into con- currently with the 2006 transformation plan forest- land sales ( see note 7 ) .
at december 31 , 2007 , total future minimum commitments under existing non-cancelable operat- ing leases and purchase obligations were as follows : in millions 2008 2009 2010 2011 2012 thereafter ._| | in millions | 2008 | 2009 | 2010 | 2011 | 2012 | thereafter |
|---:|:---------------------------|:-------|:-------|:-------|:-------|:-------|:-------------|
| 0 | lease obligations | $ 136 | $ 116 | $ 101 | $ 84 | $ 67 | $ 92 |
| 1 | purchase obligations ( a ) | 1953 | 294 | 261 | 235 | 212 | 1480 |
| 2 | total | $ 2089 | $ 410 | $ 362 | $ 319 | $ 279 | $ 1572 |_( a ) includes $ 2.1 billion relating to fiber supply agreements entered into at the time of the transformation plan forestland sales .
rent expense was $ 168 million , $ 217 million and $ 216 million for 2007 , 2006 and 2005 , respectively .
international paper entered into an agreement in 2000 to guarantee , for a fee , an unsecured con- tractual credit agreement between a financial institution and an unrelated third-party customer .
in the fourth quarter of 2006 , the customer cancelled the agreement and paid the company a fee of $ 11 million , which is included in cost of products sold in the accompanying consolidated statement of oper- ations .
the company has no future obligations under this agreement. .
| 2,007
| 75
|
IP
|
International Paper
|
Materials
|
Paper & Plastic Packaging Products & Materials
|
Memphis, Tennessee
|
1957-03-04
| 51,434
|
1898
| null | null |
finqa65
|
what is the percentage change in net comodities from 2016 to 2017?
|
-35.6%
|
divide(subtract(47, 73), 73)
|
the goldman sachs group , inc .
and subsidiaries notes to consolidated financial statements in the tables above : 2030 the gross fair values exclude the effects of both counterparty netting and collateral netting , and therefore are not representative of the firm 2019s exposure .
2030 counterparty netting is reflected in each level to the extent that receivable and payable balances are netted within the same level and is included in counterparty netting in levels .
where the counterparty netting is across levels , the netting is included in cross-level counterparty netting .
2030 derivative assets are shown as positive amounts and derivative liabilities are shown as negative amounts .
significant unobservable inputs the table below presents the amount of level 3 assets ( liabilities ) , and ranges , averages and medians of significant unobservable inputs used to value the firm 2019s level 3 derivatives .
level 3 assets ( liabilities ) and range of significant unobservable inputs ( average/median ) as of december $ in millions 2017 2016 .
|
in the table above : 2030 derivative assets are shown as positive amounts and derivative liabilities are shown as negative amounts .
2030 ranges represent the significant unobservable inputs that were used in the valuation of each type of derivative .
2030 averages represent the arithmetic average of the inputs and are not weighted by the relative fair value or notional of the respective financial instruments .
an average greater than the median indicates that the majority of inputs are below the average .
for example , the difference between the average and the median for credit spreads and oil spread inputs indicates that the majority of the inputs fall in the lower end of the range .
2030 the ranges , averages and medians of these inputs are not representative of the appropriate inputs to use when calculating the fair value of any one derivative .
for example , the highest correlation for interest rate derivatives is appropriate for valuing a specific interest rate derivative but may not be appropriate for valuing any other interest rate derivative .
accordingly , the ranges of inputs do not represent uncertainty in , or possible ranges of , fair value measurements of the firm 2019s level 3 derivatives .
2030 interest rates , currencies and equities derivatives are valued using option pricing models , credit derivatives are valued using option pricing , correlation and discounted cash flow models , and commodities derivatives are valued using option pricing and discounted cash flow models .
2030 the fair value of any one instrument may be determined using multiple valuation techniques .
for example , option pricing models and discounted cash flows models are typically used together to determine fair value .
therefore , the level 3 balance encompasses both of these techniques .
2030 correlation within currencies and equities includes cross- product type correlation .
2030 natural gas spread represents the spread per million british thermal units of natural gas .
2030 oil spread represents the spread per barrel of oil and refined products .
range of significant unobservable inputs the following is information about the ranges of significant unobservable inputs used to value the firm 2019s level 3 derivative instruments : 2030 correlation .
ranges for correlation cover a variety of underliers both within one product type ( e.g. , equity index and equity single stock names ) and across product types ( e.g. , correlation of an interest rate and a currency ) , as well as across regions .
generally , cross-product type correlation inputs are used to value more complex instruments and are lower than correlation inputs on assets within the same derivative product type .
2030 volatility .
ranges for volatility cover numerous underliers across a variety of markets , maturities and strike prices .
for example , volatility of equity indices is generally lower than volatility of single stocks .
2030 credit spreads , upfront credit points and recovery rates .
the ranges for credit spreads , upfront credit points and recovery rates cover a variety of underliers ( index and single names ) , regions , sectors , maturities and credit qualities ( high-yield and investment-grade ) .
the broad range of this population gives rise to the width of the ranges of significant unobservable inputs .
130 goldman sachs 2017 form 10-k .
|
| | $ in millions | level 3 assets ( liabilities ) and range of significant unobservable inputs ( average/median ) as of december 2017 | level 3 assets ( liabilities ) and range of significant unobservable inputs ( average/median ) as of december 2016 |
|---:|:-----------------------|:---------------------------------------------------------------------------------------------------------------------|:---------------------------------------------------------------------------------------------------------------------|
| 0 | interest rates net | $ -410 ( 410 ) | $ -381 ( 381 ) |
| 1 | correlation | ( 10 ) % ( % ) to 95% ( 95 % ) ( 71%/79% ( 71%/79 % ) ) | ( 10 ) % ( % ) to 86% ( 86 % ) ( 56%/60% ( 56%/60 % ) ) |
| 2 | volatility ( bps ) | 31 to 150 ( 84/78 ) | 31 to 151 ( 84/57 ) |
| 3 | credit net | $ 1505 | $ 2504 |
| 4 | correlation | 28% ( 28 % ) to 84% ( 84 % ) ( 61%/60% ( 61%/60 % ) ) | 35% ( 35 % ) to 91% ( 91 % ) ( 65%/68% ( 65%/68 % ) ) |
| 5 | credit spreads ( bps ) | 1 to 633 ( 69/42 ) | 1 to 993 ( 122/73 ) |
| 6 | upfront credit points | 0 to 97 ( 42/38 ) | 0 to 100 ( 43/35 ) |
| 7 | recovery rates | 22% ( 22 % ) to 73% ( 73 % ) ( 68%/73% ( 68%/73 % ) ) | 1% ( 1 % ) to 97% ( 97 % ) ( 58%/70% ( 58%/70 % ) ) |
| 8 | currencies net | $ -181 ( 181 ) | $ 3 |
| 9 | correlation | 49% ( 49 % ) to 72% ( 72 % ) ( 61%/62% ( 61%/62 % ) ) | 25% ( 25 % ) to 70% ( 70 % ) ( 50%/55% ( 50%/55 % ) ) |
| 10 | commodities net | $ 47 | $ 73 |
| 11 | volatility | 9% ( 9 % ) to 79% ( 79 % ) ( 24%/24% ( 24%/24 % ) ) | 13% ( 13 % ) to 68% ( 68 % ) ( 33%/33% ( 33%/33 % ) ) |
| 12 | natural gas spread | $ ( 2.38 ) to $ 3.34 ( $ ( 0.22 ) /$ ( 0.12 ) ) | $ ( 1.81 ) to $ 4.33 ( $ ( 0.14 ) /$ ( 0.05 ) ) |
| 13 | oil spread | $ ( 2.86 ) to $ 23.61 ( $ 6.47/$ 2.35 ) | $ ( 19.72 ) to $ 64.92 ( $ 25.30/$ 16.43 ) |
| 14 | equities net | $ -1249 ( 1249 ) | $ -3416 ( 3416 ) |
| 15 | correlation | ( 36 ) % ( % ) to 94% ( 94 % ) ( 50%/52% ( 50%/52 % ) ) | ( 39 ) % ( % ) to 88% ( 88 % ) ( 41%/41% ( 41%/41 % ) ) |
| 16 | volatility | 4% ( 4 % ) to 72% ( 72 % ) ( 24%/22% ( 24%/22 % ) ) | 5% ( 5 % ) to 72% ( 72 % ) ( 24%/23% ( 24%/23 % ) ) |
|
the goldman sachs group , inc .
and subsidiaries notes to consolidated financial statements in the tables above : 2030 the gross fair values exclude the effects of both counterparty netting and collateral netting , and therefore are not representative of the firm 2019s exposure .
2030 counterparty netting is reflected in each level to the extent that receivable and payable balances are netted within the same level and is included in counterparty netting in levels .
where the counterparty netting is across levels , the netting is included in cross-level counterparty netting .
2030 derivative assets are shown as positive amounts and derivative liabilities are shown as negative amounts .
significant unobservable inputs the table below presents the amount of level 3 assets ( liabilities ) , and ranges , averages and medians of significant unobservable inputs used to value the firm 2019s level 3 derivatives .
level 3 assets ( liabilities ) and range of significant unobservable inputs ( average/median ) as of december $ in millions 2017 2016 ._| | $ in millions | level 3 assets ( liabilities ) and range of significant unobservable inputs ( average/median ) as of december 2017 | level 3 assets ( liabilities ) and range of significant unobservable inputs ( average/median ) as of december 2016 |
|---:|:-----------------------|:---------------------------------------------------------------------------------------------------------------------|:---------------------------------------------------------------------------------------------------------------------|
| 0 | interest rates net | $ -410 ( 410 ) | $ -381 ( 381 ) |
| 1 | correlation | ( 10 ) % ( % ) to 95% ( 95 % ) ( 71%/79% ( 71%/79 % ) ) | ( 10 ) % ( % ) to 86% ( 86 % ) ( 56%/60% ( 56%/60 % ) ) |
| 2 | volatility ( bps ) | 31 to 150 ( 84/78 ) | 31 to 151 ( 84/57 ) |
| 3 | credit net | $ 1505 | $ 2504 |
| 4 | correlation | 28% ( 28 % ) to 84% ( 84 % ) ( 61%/60% ( 61%/60 % ) ) | 35% ( 35 % ) to 91% ( 91 % ) ( 65%/68% ( 65%/68 % ) ) |
| 5 | credit spreads ( bps ) | 1 to 633 ( 69/42 ) | 1 to 993 ( 122/73 ) |
| 6 | upfront credit points | 0 to 97 ( 42/38 ) | 0 to 100 ( 43/35 ) |
| 7 | recovery rates | 22% ( 22 % ) to 73% ( 73 % ) ( 68%/73% ( 68%/73 % ) ) | 1% ( 1 % ) to 97% ( 97 % ) ( 58%/70% ( 58%/70 % ) ) |
| 8 | currencies net | $ -181 ( 181 ) | $ 3 |
| 9 | correlation | 49% ( 49 % ) to 72% ( 72 % ) ( 61%/62% ( 61%/62 % ) ) | 25% ( 25 % ) to 70% ( 70 % ) ( 50%/55% ( 50%/55 % ) ) |
| 10 | commodities net | $ 47 | $ 73 |
| 11 | volatility | 9% ( 9 % ) to 79% ( 79 % ) ( 24%/24% ( 24%/24 % ) ) | 13% ( 13 % ) to 68% ( 68 % ) ( 33%/33% ( 33%/33 % ) ) |
| 12 | natural gas spread | $ ( 2.38 ) to $ 3.34 ( $ ( 0.22 ) /$ ( 0.12 ) ) | $ ( 1.81 ) to $ 4.33 ( $ ( 0.14 ) /$ ( 0.05 ) ) |
| 13 | oil spread | $ ( 2.86 ) to $ 23.61 ( $ 6.47/$ 2.35 ) | $ ( 19.72 ) to $ 64.92 ( $ 25.30/$ 16.43 ) |
| 14 | equities net | $ -1249 ( 1249 ) | $ -3416 ( 3416 ) |
| 15 | correlation | ( 36 ) % ( % ) to 94% ( 94 % ) ( 50%/52% ( 50%/52 % ) ) | ( 39 ) % ( % ) to 88% ( 88 % ) ( 41%/41% ( 41%/41 % ) ) |
| 16 | volatility | 4% ( 4 % ) to 72% ( 72 % ) ( 24%/22% ( 24%/22 % ) ) | 5% ( 5 % ) to 72% ( 72 % ) ( 24%/23% ( 24%/23 % ) ) |_in the table above : 2030 derivative assets are shown as positive amounts and derivative liabilities are shown as negative amounts .
2030 ranges represent the significant unobservable inputs that were used in the valuation of each type of derivative .
2030 averages represent the arithmetic average of the inputs and are not weighted by the relative fair value or notional of the respective financial instruments .
an average greater than the median indicates that the majority of inputs are below the average .
for example , the difference between the average and the median for credit spreads and oil spread inputs indicates that the majority of the inputs fall in the lower end of the range .
2030 the ranges , averages and medians of these inputs are not representative of the appropriate inputs to use when calculating the fair value of any one derivative .
for example , the highest correlation for interest rate derivatives is appropriate for valuing a specific interest rate derivative but may not be appropriate for valuing any other interest rate derivative .
accordingly , the ranges of inputs do not represent uncertainty in , or possible ranges of , fair value measurements of the firm 2019s level 3 derivatives .
2030 interest rates , currencies and equities derivatives are valued using option pricing models , credit derivatives are valued using option pricing , correlation and discounted cash flow models , and commodities derivatives are valued using option pricing and discounted cash flow models .
2030 the fair value of any one instrument may be determined using multiple valuation techniques .
for example , option pricing models and discounted cash flows models are typically used together to determine fair value .
therefore , the level 3 balance encompasses both of these techniques .
2030 correlation within currencies and equities includes cross- product type correlation .
2030 natural gas spread represents the spread per million british thermal units of natural gas .
2030 oil spread represents the spread per barrel of oil and refined products .
range of significant unobservable inputs the following is information about the ranges of significant unobservable inputs used to value the firm 2019s level 3 derivative instruments : 2030 correlation .
ranges for correlation cover a variety of underliers both within one product type ( e.g. , equity index and equity single stock names ) and across product types ( e.g. , correlation of an interest rate and a currency ) , as well as across regions .
generally , cross-product type correlation inputs are used to value more complex instruments and are lower than correlation inputs on assets within the same derivative product type .
2030 volatility .
ranges for volatility cover numerous underliers across a variety of markets , maturities and strike prices .
for example , volatility of equity indices is generally lower than volatility of single stocks .
2030 credit spreads , upfront credit points and recovery rates .
the ranges for credit spreads , upfront credit points and recovery rates cover a variety of underliers ( index and single names ) , regions , sectors , maturities and credit qualities ( high-yield and investment-grade ) .
the broad range of this population gives rise to the width of the ranges of significant unobservable inputs .
130 goldman sachs 2017 form 10-k .
| 2,017
| 143
|
GS
|
Goldman Sachs
|
Financials
|
Investment Banking & Brokerage
|
New York City, New York
|
2002-07-22
| 886,982
|
1869
|
what is the percentage change in net comodities from 2016 to 2017?
|
-35.6%
|
divide(subtract(47, 73), 73)
|
the goldman sachs group , inc .
and subsidiaries notes to consolidated financial statements in the tables above : 2030 the gross fair values exclude the effects of both counterparty netting and collateral netting , and therefore are not representative of the firm 2019s exposure .
2030 counterparty netting is reflected in each level to the extent that receivable and payable balances are netted within the same level and is included in counterparty netting in levels .
where the counterparty netting is across levels , the netting is included in cross-level counterparty netting .
2030 derivative assets are shown as positive amounts and derivative liabilities are shown as negative amounts .
significant unobservable inputs the table below presents the amount of level 3 assets ( liabilities ) , and ranges , averages and medians of significant unobservable inputs used to value the firm 2019s level 3 derivatives .
level 3 assets ( liabilities ) and range of significant unobservable inputs ( average/median ) as of december $ in millions 2017 2016 .
|
in the table above : 2030 derivative assets are shown as positive amounts and derivative liabilities are shown as negative amounts .
2030 ranges represent the significant unobservable inputs that were used in the valuation of each type of derivative .
2030 averages represent the arithmetic average of the inputs and are not weighted by the relative fair value or notional of the respective financial instruments .
an average greater than the median indicates that the majority of inputs are below the average .
for example , the difference between the average and the median for credit spreads and oil spread inputs indicates that the majority of the inputs fall in the lower end of the range .
2030 the ranges , averages and medians of these inputs are not representative of the appropriate inputs to use when calculating the fair value of any one derivative .
for example , the highest correlation for interest rate derivatives is appropriate for valuing a specific interest rate derivative but may not be appropriate for valuing any other interest rate derivative .
accordingly , the ranges of inputs do not represent uncertainty in , or possible ranges of , fair value measurements of the firm 2019s level 3 derivatives .
2030 interest rates , currencies and equities derivatives are valued using option pricing models , credit derivatives are valued using option pricing , correlation and discounted cash flow models , and commodities derivatives are valued using option pricing and discounted cash flow models .
2030 the fair value of any one instrument may be determined using multiple valuation techniques .
for example , option pricing models and discounted cash flows models are typically used together to determine fair value .
therefore , the level 3 balance encompasses both of these techniques .
2030 correlation within currencies and equities includes cross- product type correlation .
2030 natural gas spread represents the spread per million british thermal units of natural gas .
2030 oil spread represents the spread per barrel of oil and refined products .
range of significant unobservable inputs the following is information about the ranges of significant unobservable inputs used to value the firm 2019s level 3 derivative instruments : 2030 correlation .
ranges for correlation cover a variety of underliers both within one product type ( e.g. , equity index and equity single stock names ) and across product types ( e.g. , correlation of an interest rate and a currency ) , as well as across regions .
generally , cross-product type correlation inputs are used to value more complex instruments and are lower than correlation inputs on assets within the same derivative product type .
2030 volatility .
ranges for volatility cover numerous underliers across a variety of markets , maturities and strike prices .
for example , volatility of equity indices is generally lower than volatility of single stocks .
2030 credit spreads , upfront credit points and recovery rates .
the ranges for credit spreads , upfront credit points and recovery rates cover a variety of underliers ( index and single names ) , regions , sectors , maturities and credit qualities ( high-yield and investment-grade ) .
the broad range of this population gives rise to the width of the ranges of significant unobservable inputs .
130 goldman sachs 2017 form 10-k .
|
| | $ in millions | level 3 assets ( liabilities ) and range of significant unobservable inputs ( average/median ) as of december 2017 | level 3 assets ( liabilities ) and range of significant unobservable inputs ( average/median ) as of december 2016 |
|---:|:-----------------------|:---------------------------------------------------------------------------------------------------------------------|:---------------------------------------------------------------------------------------------------------------------|
| 0 | interest rates net | $ -410 ( 410 ) | $ -381 ( 381 ) |
| 1 | correlation | ( 10 ) % ( % ) to 95% ( 95 % ) ( 71%/79% ( 71%/79 % ) ) | ( 10 ) % ( % ) to 86% ( 86 % ) ( 56%/60% ( 56%/60 % ) ) |
| 2 | volatility ( bps ) | 31 to 150 ( 84/78 ) | 31 to 151 ( 84/57 ) |
| 3 | credit net | $ 1505 | $ 2504 |
| 4 | correlation | 28% ( 28 % ) to 84% ( 84 % ) ( 61%/60% ( 61%/60 % ) ) | 35% ( 35 % ) to 91% ( 91 % ) ( 65%/68% ( 65%/68 % ) ) |
| 5 | credit spreads ( bps ) | 1 to 633 ( 69/42 ) | 1 to 993 ( 122/73 ) |
| 6 | upfront credit points | 0 to 97 ( 42/38 ) | 0 to 100 ( 43/35 ) |
| 7 | recovery rates | 22% ( 22 % ) to 73% ( 73 % ) ( 68%/73% ( 68%/73 % ) ) | 1% ( 1 % ) to 97% ( 97 % ) ( 58%/70% ( 58%/70 % ) ) |
| 8 | currencies net | $ -181 ( 181 ) | $ 3 |
| 9 | correlation | 49% ( 49 % ) to 72% ( 72 % ) ( 61%/62% ( 61%/62 % ) ) | 25% ( 25 % ) to 70% ( 70 % ) ( 50%/55% ( 50%/55 % ) ) |
| 10 | commodities net | $ 47 | $ 73 |
| 11 | volatility | 9% ( 9 % ) to 79% ( 79 % ) ( 24%/24% ( 24%/24 % ) ) | 13% ( 13 % ) to 68% ( 68 % ) ( 33%/33% ( 33%/33 % ) ) |
| 12 | natural gas spread | $ ( 2.38 ) to $ 3.34 ( $ ( 0.22 ) /$ ( 0.12 ) ) | $ ( 1.81 ) to $ 4.33 ( $ ( 0.14 ) /$ ( 0.05 ) ) |
| 13 | oil spread | $ ( 2.86 ) to $ 23.61 ( $ 6.47/$ 2.35 ) | $ ( 19.72 ) to $ 64.92 ( $ 25.30/$ 16.43 ) |
| 14 | equities net | $ -1249 ( 1249 ) | $ -3416 ( 3416 ) |
| 15 | correlation | ( 36 ) % ( % ) to 94% ( 94 % ) ( 50%/52% ( 50%/52 % ) ) | ( 39 ) % ( % ) to 88% ( 88 % ) ( 41%/41% ( 41%/41 % ) ) |
| 16 | volatility | 4% ( 4 % ) to 72% ( 72 % ) ( 24%/22% ( 24%/22 % ) ) | 5% ( 5 % ) to 72% ( 72 % ) ( 24%/23% ( 24%/23 % ) ) |
|
the goldman sachs group , inc .
and subsidiaries notes to consolidated financial statements in the tables above : 2030 the gross fair values exclude the effects of both counterparty netting and collateral netting , and therefore are not representative of the firm 2019s exposure .
2030 counterparty netting is reflected in each level to the extent that receivable and payable balances are netted within the same level and is included in counterparty netting in levels .
where the counterparty netting is across levels , the netting is included in cross-level counterparty netting .
2030 derivative assets are shown as positive amounts and derivative liabilities are shown as negative amounts .
significant unobservable inputs the table below presents the amount of level 3 assets ( liabilities ) , and ranges , averages and medians of significant unobservable inputs used to value the firm 2019s level 3 derivatives .
level 3 assets ( liabilities ) and range of significant unobservable inputs ( average/median ) as of december $ in millions 2017 2016 ._| | $ in millions | level 3 assets ( liabilities ) and range of significant unobservable inputs ( average/median ) as of december 2017 | level 3 assets ( liabilities ) and range of significant unobservable inputs ( average/median ) as of december 2016 |
|---:|:-----------------------|:---------------------------------------------------------------------------------------------------------------------|:---------------------------------------------------------------------------------------------------------------------|
| 0 | interest rates net | $ -410 ( 410 ) | $ -381 ( 381 ) |
| 1 | correlation | ( 10 ) % ( % ) to 95% ( 95 % ) ( 71%/79% ( 71%/79 % ) ) | ( 10 ) % ( % ) to 86% ( 86 % ) ( 56%/60% ( 56%/60 % ) ) |
| 2 | volatility ( bps ) | 31 to 150 ( 84/78 ) | 31 to 151 ( 84/57 ) |
| 3 | credit net | $ 1505 | $ 2504 |
| 4 | correlation | 28% ( 28 % ) to 84% ( 84 % ) ( 61%/60% ( 61%/60 % ) ) | 35% ( 35 % ) to 91% ( 91 % ) ( 65%/68% ( 65%/68 % ) ) |
| 5 | credit spreads ( bps ) | 1 to 633 ( 69/42 ) | 1 to 993 ( 122/73 ) |
| 6 | upfront credit points | 0 to 97 ( 42/38 ) | 0 to 100 ( 43/35 ) |
| 7 | recovery rates | 22% ( 22 % ) to 73% ( 73 % ) ( 68%/73% ( 68%/73 % ) ) | 1% ( 1 % ) to 97% ( 97 % ) ( 58%/70% ( 58%/70 % ) ) |
| 8 | currencies net | $ -181 ( 181 ) | $ 3 |
| 9 | correlation | 49% ( 49 % ) to 72% ( 72 % ) ( 61%/62% ( 61%/62 % ) ) | 25% ( 25 % ) to 70% ( 70 % ) ( 50%/55% ( 50%/55 % ) ) |
| 10 | commodities net | $ 47 | $ 73 |
| 11 | volatility | 9% ( 9 % ) to 79% ( 79 % ) ( 24%/24% ( 24%/24 % ) ) | 13% ( 13 % ) to 68% ( 68 % ) ( 33%/33% ( 33%/33 % ) ) |
| 12 | natural gas spread | $ ( 2.38 ) to $ 3.34 ( $ ( 0.22 ) /$ ( 0.12 ) ) | $ ( 1.81 ) to $ 4.33 ( $ ( 0.14 ) /$ ( 0.05 ) ) |
| 13 | oil spread | $ ( 2.86 ) to $ 23.61 ( $ 6.47/$ 2.35 ) | $ ( 19.72 ) to $ 64.92 ( $ 25.30/$ 16.43 ) |
| 14 | equities net | $ -1249 ( 1249 ) | $ -3416 ( 3416 ) |
| 15 | correlation | ( 36 ) % ( % ) to 94% ( 94 % ) ( 50%/52% ( 50%/52 % ) ) | ( 39 ) % ( % ) to 88% ( 88 % ) ( 41%/41% ( 41%/41 % ) ) |
| 16 | volatility | 4% ( 4 % ) to 72% ( 72 % ) ( 24%/22% ( 24%/22 % ) ) | 5% ( 5 % ) to 72% ( 72 % ) ( 24%/23% ( 24%/23 % ) ) |_in the table above : 2030 derivative assets are shown as positive amounts and derivative liabilities are shown as negative amounts .
2030 ranges represent the significant unobservable inputs that were used in the valuation of each type of derivative .
2030 averages represent the arithmetic average of the inputs and are not weighted by the relative fair value or notional of the respective financial instruments .
an average greater than the median indicates that the majority of inputs are below the average .
for example , the difference between the average and the median for credit spreads and oil spread inputs indicates that the majority of the inputs fall in the lower end of the range .
2030 the ranges , averages and medians of these inputs are not representative of the appropriate inputs to use when calculating the fair value of any one derivative .
for example , the highest correlation for interest rate derivatives is appropriate for valuing a specific interest rate derivative but may not be appropriate for valuing any other interest rate derivative .
accordingly , the ranges of inputs do not represent uncertainty in , or possible ranges of , fair value measurements of the firm 2019s level 3 derivatives .
2030 interest rates , currencies and equities derivatives are valued using option pricing models , credit derivatives are valued using option pricing , correlation and discounted cash flow models , and commodities derivatives are valued using option pricing and discounted cash flow models .
2030 the fair value of any one instrument may be determined using multiple valuation techniques .
for example , option pricing models and discounted cash flows models are typically used together to determine fair value .
therefore , the level 3 balance encompasses both of these techniques .
2030 correlation within currencies and equities includes cross- product type correlation .
2030 natural gas spread represents the spread per million british thermal units of natural gas .
2030 oil spread represents the spread per barrel of oil and refined products .
range of significant unobservable inputs the following is information about the ranges of significant unobservable inputs used to value the firm 2019s level 3 derivative instruments : 2030 correlation .
ranges for correlation cover a variety of underliers both within one product type ( e.g. , equity index and equity single stock names ) and across product types ( e.g. , correlation of an interest rate and a currency ) , as well as across regions .
generally , cross-product type correlation inputs are used to value more complex instruments and are lower than correlation inputs on assets within the same derivative product type .
2030 volatility .
ranges for volatility cover numerous underliers across a variety of markets , maturities and strike prices .
for example , volatility of equity indices is generally lower than volatility of single stocks .
2030 credit spreads , upfront credit points and recovery rates .
the ranges for credit spreads , upfront credit points and recovery rates cover a variety of underliers ( index and single names ) , regions , sectors , maturities and credit qualities ( high-yield and investment-grade ) .
the broad range of this population gives rise to the width of the ranges of significant unobservable inputs .
130 goldman sachs 2017 form 10-k .
| 2,017
| 143
|
GS
|
Goldman Sachs
|
Financials
|
Investment Banking & Brokerage
|
New York City, New York
|
2002-07-22
| 886,982
|
1869
| null | null |
finqa66
|
what the percentage increase defined contribution plans for foreign countries and contribution from 2007 to 2008
|
7.5%
|
divide(subtract(28.7, 26.7), 26.7)
|
notes to consolidated financial statements 2013 ( continued ) ( amounts in millions , except per share amounts ) cash flows for 2010 , we expect to contribute $ 25.2 and $ 9.2 to our foreign pension plans and domestic pension plans , respectively .
a significant portion of our contributions to the foreign pension plans relate to the u.k .
pension plan .
additionally , we are in the process of modifying the schedule of employer contributions for the u.k .
pension plan and we expect to finalize this during 2010 .
as a result , we expect our contributions to our foreign pension plans to increase from current levels in 2010 and subsequent years .
during 2009 , we contributed $ 31.9 to our foreign pension plans and contributions to the domestic pension plan were negligible .
the following estimated future benefit payments , which reflect future service , as appropriate , are expected to be paid in the years indicated below .
domestic pension plans foreign pension plans postretirement benefit plans .
|
the estimated future payments for our postretirement benefit plans are before any estimated federal subsidies expected to be received under the medicare prescription drug , improvement and modernization act of 2003 .
federal subsidies are estimated to range from $ 0.5 in 2010 to $ 0.6 in 2014 and are estimated to be $ 2.4 for the period 2015-2019 .
savings plans we sponsor defined contribution plans ( the 201csavings plans 201d ) that cover substantially all domestic employees .
the savings plans permit participants to make contributions on a pre-tax and/or after-tax basis and allows participants to choose among various investment alternatives .
we match a portion of participant contributions based upon their years of service .
amounts expensed for the savings plans for 2009 , 2008 and 2007 were $ 35.1 , $ 29.6 and $ 31.4 , respectively .
expense includes a discretionary company contribution of $ 3.8 , $ 4.0 and $ 4.9 offset by participant forfeitures of $ 2.7 , $ 7.8 , $ 6.0 in 2009 , 2008 and 2007 , respectively .
in addition , we maintain defined contribution plans in various foreign countries and contributed $ 25.0 , $ 28.7 and $ 26.7 to these plans in 2009 , 2008 and 2007 , respectively .
deferred compensation and benefit arrangements we have deferred compensation arrangements which ( i ) permit certain of our key officers and employees to defer a portion of their salary or incentive compensation , or ( ii ) require us to contribute an amount to the participant 2019s account .
the arrangements typically provide that the participant will receive the amounts deferred plus interest upon attaining certain conditions , such as completing a certain number of years of service or upon retirement or termination .
as of december 31 , 2009 and 2008 , the deferred compensation liability balance was $ 100.3 and $ 107.6 , respectively .
amounts expensed for deferred compensation arrangements in 2009 , 2008 and 2007 were $ 11.6 , $ 5.7 and $ 11.9 , respectively .
we have deferred benefit arrangements with certain key officers and employees that provide participants with an annual payment , payable when the participant attains a certain age and after the participant 2019s employment has terminated .
the deferred benefit liability was $ 178.2 and $ 182.1 as of december 31 , 2009 and 2008 , respectively .
amounts expensed for deferred benefit arrangements in 2009 , 2008 and 2007 were $ 12.0 , $ 14.9 and $ 15.5 , respectively .
we have purchased life insurance policies on participants 2019 lives to assist in the funding of the related deferred compensation and deferred benefit liabilities .
as of december 31 , 2009 and 2008 , the cash surrender value of these policies was $ 119.4 and $ 100.2 , respectively .
in addition to the life insurance policies , certain investments are held for the purpose of paying the deferred compensation and deferred benefit liabilities .
these investments , along with the life insurance policies , are held in a separate revocable trust for the purpose of paying the deferred compensation and the deferred benefit .
|
| | years | domestic pension plans | foreign pension plans | postretirement benefit plans |
|---:|:---------------|:-------------------------|:------------------------|:-------------------------------|
| 0 | 2010 | $ 17.2 | $ 23.5 | $ 5.8 |
| 1 | 2011 | 11.1 | 24.7 | 5.7 |
| 2 | 2012 | 10.8 | 26.4 | 5.7 |
| 3 | 2013 | 10.5 | 28.2 | 5.6 |
| 4 | 2014 | 10.5 | 32.4 | 5.5 |
| 5 | 2015 2013 2019 | 48.5 | 175.3 | 24.8 |
|
notes to consolidated financial statements 2013 ( continued ) ( amounts in millions , except per share amounts ) cash flows for 2010 , we expect to contribute $ 25.2 and $ 9.2 to our foreign pension plans and domestic pension plans , respectively .
a significant portion of our contributions to the foreign pension plans relate to the u.k .
pension plan .
additionally , we are in the process of modifying the schedule of employer contributions for the u.k .
pension plan and we expect to finalize this during 2010 .
as a result , we expect our contributions to our foreign pension plans to increase from current levels in 2010 and subsequent years .
during 2009 , we contributed $ 31.9 to our foreign pension plans and contributions to the domestic pension plan were negligible .
the following estimated future benefit payments , which reflect future service , as appropriate , are expected to be paid in the years indicated below .
domestic pension plans foreign pension plans postretirement benefit plans ._| | years | domestic pension plans | foreign pension plans | postretirement benefit plans |
|---:|:---------------|:-------------------------|:------------------------|:-------------------------------|
| 0 | 2010 | $ 17.2 | $ 23.5 | $ 5.8 |
| 1 | 2011 | 11.1 | 24.7 | 5.7 |
| 2 | 2012 | 10.8 | 26.4 | 5.7 |
| 3 | 2013 | 10.5 | 28.2 | 5.6 |
| 4 | 2014 | 10.5 | 32.4 | 5.5 |
| 5 | 2015 2013 2019 | 48.5 | 175.3 | 24.8 |_the estimated future payments for our postretirement benefit plans are before any estimated federal subsidies expected to be received under the medicare prescription drug , improvement and modernization act of 2003 .
federal subsidies are estimated to range from $ 0.5 in 2010 to $ 0.6 in 2014 and are estimated to be $ 2.4 for the period 2015-2019 .
savings plans we sponsor defined contribution plans ( the 201csavings plans 201d ) that cover substantially all domestic employees .
the savings plans permit participants to make contributions on a pre-tax and/or after-tax basis and allows participants to choose among various investment alternatives .
we match a portion of participant contributions based upon their years of service .
amounts expensed for the savings plans for 2009 , 2008 and 2007 were $ 35.1 , $ 29.6 and $ 31.4 , respectively .
expense includes a discretionary company contribution of $ 3.8 , $ 4.0 and $ 4.9 offset by participant forfeitures of $ 2.7 , $ 7.8 , $ 6.0 in 2009 , 2008 and 2007 , respectively .
in addition , we maintain defined contribution plans in various foreign countries and contributed $ 25.0 , $ 28.7 and $ 26.7 to these plans in 2009 , 2008 and 2007 , respectively .
deferred compensation and benefit arrangements we have deferred compensation arrangements which ( i ) permit certain of our key officers and employees to defer a portion of their salary or incentive compensation , or ( ii ) require us to contribute an amount to the participant 2019s account .
the arrangements typically provide that the participant will receive the amounts deferred plus interest upon attaining certain conditions , such as completing a certain number of years of service or upon retirement or termination .
as of december 31 , 2009 and 2008 , the deferred compensation liability balance was $ 100.3 and $ 107.6 , respectively .
amounts expensed for deferred compensation arrangements in 2009 , 2008 and 2007 were $ 11.6 , $ 5.7 and $ 11.9 , respectively .
we have deferred benefit arrangements with certain key officers and employees that provide participants with an annual payment , payable when the participant attains a certain age and after the participant 2019s employment has terminated .
the deferred benefit liability was $ 178.2 and $ 182.1 as of december 31 , 2009 and 2008 , respectively .
amounts expensed for deferred benefit arrangements in 2009 , 2008 and 2007 were $ 12.0 , $ 14.9 and $ 15.5 , respectively .
we have purchased life insurance policies on participants 2019 lives to assist in the funding of the related deferred compensation and deferred benefit liabilities .
as of december 31 , 2009 and 2008 , the cash surrender value of these policies was $ 119.4 and $ 100.2 , respectively .
in addition to the life insurance policies , certain investments are held for the purpose of paying the deferred compensation and deferred benefit liabilities .
these investments , along with the life insurance policies , are held in a separate revocable trust for the purpose of paying the deferred compensation and the deferred benefit .
| 2,009
| 85
|
IPG
|
Interpublic Group of Companies (The)
|
Communication Services
|
Advertising
|
New York City, New York
|
1992-10-01
| 51,644
|
1961 (1930)
|
what the percentage increase defined contribution plans for foreign countries and contribution from 2007 to 2008
|
7.5%
|
divide(subtract(28.7, 26.7), 26.7)
|
notes to consolidated financial statements 2013 ( continued ) ( amounts in millions , except per share amounts ) cash flows for 2010 , we expect to contribute $ 25.2 and $ 9.2 to our foreign pension plans and domestic pension plans , respectively .
a significant portion of our contributions to the foreign pension plans relate to the u.k .
pension plan .
additionally , we are in the process of modifying the schedule of employer contributions for the u.k .
pension plan and we expect to finalize this during 2010 .
as a result , we expect our contributions to our foreign pension plans to increase from current levels in 2010 and subsequent years .
during 2009 , we contributed $ 31.9 to our foreign pension plans and contributions to the domestic pension plan were negligible .
the following estimated future benefit payments , which reflect future service , as appropriate , are expected to be paid in the years indicated below .
domestic pension plans foreign pension plans postretirement benefit plans .
|
the estimated future payments for our postretirement benefit plans are before any estimated federal subsidies expected to be received under the medicare prescription drug , improvement and modernization act of 2003 .
federal subsidies are estimated to range from $ 0.5 in 2010 to $ 0.6 in 2014 and are estimated to be $ 2.4 for the period 2015-2019 .
savings plans we sponsor defined contribution plans ( the 201csavings plans 201d ) that cover substantially all domestic employees .
the savings plans permit participants to make contributions on a pre-tax and/or after-tax basis and allows participants to choose among various investment alternatives .
we match a portion of participant contributions based upon their years of service .
amounts expensed for the savings plans for 2009 , 2008 and 2007 were $ 35.1 , $ 29.6 and $ 31.4 , respectively .
expense includes a discretionary company contribution of $ 3.8 , $ 4.0 and $ 4.9 offset by participant forfeitures of $ 2.7 , $ 7.8 , $ 6.0 in 2009 , 2008 and 2007 , respectively .
in addition , we maintain defined contribution plans in various foreign countries and contributed $ 25.0 , $ 28.7 and $ 26.7 to these plans in 2009 , 2008 and 2007 , respectively .
deferred compensation and benefit arrangements we have deferred compensation arrangements which ( i ) permit certain of our key officers and employees to defer a portion of their salary or incentive compensation , or ( ii ) require us to contribute an amount to the participant 2019s account .
the arrangements typically provide that the participant will receive the amounts deferred plus interest upon attaining certain conditions , such as completing a certain number of years of service or upon retirement or termination .
as of december 31 , 2009 and 2008 , the deferred compensation liability balance was $ 100.3 and $ 107.6 , respectively .
amounts expensed for deferred compensation arrangements in 2009 , 2008 and 2007 were $ 11.6 , $ 5.7 and $ 11.9 , respectively .
we have deferred benefit arrangements with certain key officers and employees that provide participants with an annual payment , payable when the participant attains a certain age and after the participant 2019s employment has terminated .
the deferred benefit liability was $ 178.2 and $ 182.1 as of december 31 , 2009 and 2008 , respectively .
amounts expensed for deferred benefit arrangements in 2009 , 2008 and 2007 were $ 12.0 , $ 14.9 and $ 15.5 , respectively .
we have purchased life insurance policies on participants 2019 lives to assist in the funding of the related deferred compensation and deferred benefit liabilities .
as of december 31 , 2009 and 2008 , the cash surrender value of these policies was $ 119.4 and $ 100.2 , respectively .
in addition to the life insurance policies , certain investments are held for the purpose of paying the deferred compensation and deferred benefit liabilities .
these investments , along with the life insurance policies , are held in a separate revocable trust for the purpose of paying the deferred compensation and the deferred benefit .
|
| | years | domestic pension plans | foreign pension plans | postretirement benefit plans |
|---:|:---------------|:-------------------------|:------------------------|:-------------------------------|
| 0 | 2010 | $ 17.2 | $ 23.5 | $ 5.8 |
| 1 | 2011 | 11.1 | 24.7 | 5.7 |
| 2 | 2012 | 10.8 | 26.4 | 5.7 |
| 3 | 2013 | 10.5 | 28.2 | 5.6 |
| 4 | 2014 | 10.5 | 32.4 | 5.5 |
| 5 | 2015 2013 2019 | 48.5 | 175.3 | 24.8 |
|
notes to consolidated financial statements 2013 ( continued ) ( amounts in millions , except per share amounts ) cash flows for 2010 , we expect to contribute $ 25.2 and $ 9.2 to our foreign pension plans and domestic pension plans , respectively .
a significant portion of our contributions to the foreign pension plans relate to the u.k .
pension plan .
additionally , we are in the process of modifying the schedule of employer contributions for the u.k .
pension plan and we expect to finalize this during 2010 .
as a result , we expect our contributions to our foreign pension plans to increase from current levels in 2010 and subsequent years .
during 2009 , we contributed $ 31.9 to our foreign pension plans and contributions to the domestic pension plan were negligible .
the following estimated future benefit payments , which reflect future service , as appropriate , are expected to be paid in the years indicated below .
domestic pension plans foreign pension plans postretirement benefit plans ._| | years | domestic pension plans | foreign pension plans | postretirement benefit plans |
|---:|:---------------|:-------------------------|:------------------------|:-------------------------------|
| 0 | 2010 | $ 17.2 | $ 23.5 | $ 5.8 |
| 1 | 2011 | 11.1 | 24.7 | 5.7 |
| 2 | 2012 | 10.8 | 26.4 | 5.7 |
| 3 | 2013 | 10.5 | 28.2 | 5.6 |
| 4 | 2014 | 10.5 | 32.4 | 5.5 |
| 5 | 2015 2013 2019 | 48.5 | 175.3 | 24.8 |_the estimated future payments for our postretirement benefit plans are before any estimated federal subsidies expected to be received under the medicare prescription drug , improvement and modernization act of 2003 .
federal subsidies are estimated to range from $ 0.5 in 2010 to $ 0.6 in 2014 and are estimated to be $ 2.4 for the period 2015-2019 .
savings plans we sponsor defined contribution plans ( the 201csavings plans 201d ) that cover substantially all domestic employees .
the savings plans permit participants to make contributions on a pre-tax and/or after-tax basis and allows participants to choose among various investment alternatives .
we match a portion of participant contributions based upon their years of service .
amounts expensed for the savings plans for 2009 , 2008 and 2007 were $ 35.1 , $ 29.6 and $ 31.4 , respectively .
expense includes a discretionary company contribution of $ 3.8 , $ 4.0 and $ 4.9 offset by participant forfeitures of $ 2.7 , $ 7.8 , $ 6.0 in 2009 , 2008 and 2007 , respectively .
in addition , we maintain defined contribution plans in various foreign countries and contributed $ 25.0 , $ 28.7 and $ 26.7 to these plans in 2009 , 2008 and 2007 , respectively .
deferred compensation and benefit arrangements we have deferred compensation arrangements which ( i ) permit certain of our key officers and employees to defer a portion of their salary or incentive compensation , or ( ii ) require us to contribute an amount to the participant 2019s account .
the arrangements typically provide that the participant will receive the amounts deferred plus interest upon attaining certain conditions , such as completing a certain number of years of service or upon retirement or termination .
as of december 31 , 2009 and 2008 , the deferred compensation liability balance was $ 100.3 and $ 107.6 , respectively .
amounts expensed for deferred compensation arrangements in 2009 , 2008 and 2007 were $ 11.6 , $ 5.7 and $ 11.9 , respectively .
we have deferred benefit arrangements with certain key officers and employees that provide participants with an annual payment , payable when the participant attains a certain age and after the participant 2019s employment has terminated .
the deferred benefit liability was $ 178.2 and $ 182.1 as of december 31 , 2009 and 2008 , respectively .
amounts expensed for deferred benefit arrangements in 2009 , 2008 and 2007 were $ 12.0 , $ 14.9 and $ 15.5 , respectively .
we have purchased life insurance policies on participants 2019 lives to assist in the funding of the related deferred compensation and deferred benefit liabilities .
as of december 31 , 2009 and 2008 , the cash surrender value of these policies was $ 119.4 and $ 100.2 , respectively .
in addition to the life insurance policies , certain investments are held for the purpose of paying the deferred compensation and deferred benefit liabilities .
these investments , along with the life insurance policies , are held in a separate revocable trust for the purpose of paying the deferred compensation and the deferred benefit .
| 2,009
| 85
|
IPG
|
Interpublic Group of Companies (The)
|
Communication Services
|
Advertising
|
New York City, New York
|
1992-10-01
| 51,644
|
1961 (1930)
| null | null |
finqa67
|
what are the total contingent payments relating to impella?
|
5583331
|
multiply(5583334, const_3)
|
abiomed , inc .
and subsidiaries notes to consolidated financial statements 2014 ( continued ) note 14 .
income taxes ( continued ) on april 1 , 2007 , the company adopted financial interpretation fin no .
48 , accounting for uncertainty in income taxes 2014an interpretation of fasb statement no .
109 ( 201cfin no .
48 201d ) , which clarifies the accounting for uncertainty in income taxes recognized in an enterprise 2019s financial statements in accordance with fasb statement no .
109 , accounting for income taxes .
fin no .
48 prescribes a recognition threshold and measurement process for recording in the financial statements uncertain tax positions taken or expected to be taken in a tax return .
fin no .
48 also provides guidance on derecognition , classification , interest and penalties , accounting in interim periods , disclosure , and transition and defines the criteria that must be met for the benefits of a tax position to be recognized .
as a result of its adoption of fin no .
48 , the company recorded the cumulative effect of the change in accounting principle of $ 0.3 million as a decrease to opening retained earnings and an increase to other long-term liabilities as of april 1 , 2007 .
this adjustment related to state nexus for failure to file tax returns in various states for the years ended march 31 , 2003 , 2004 , and 2005 .
the company initiated a voluntary disclosure plan , which it completed in fiscal year 2009 .
the company elected to recognize interest and/or penalties related to income tax matters in income tax expense in its consolidated statements of operations .
as of march 31 , 2009 , the company had remitted all outstanding amounts owed to each of the states in connection with the outstanding taxes owed at march 31 , 2008 .
as such , the company had no fin no .
48 liability at march 31 , 2009 .
on a quarterly basis , the company accrues for the effects of uncertain tax positions and the related potential penalties and interest .
it is reasonably possible that the amount of the unrecognized tax benefit with respect to certain of the unrecognized tax positions will increase or decrease during the next 12 months ; however , it is not expected that the change will have a significant effect on the company 2019s results of operations or financial position .
a reconciliation of the beginning and ending balance of unrecognized tax benefits , excluding accrued interest recorded at march 31 , 2009 ( in thousands ) is as follows: .
|
the company and its subsidiaries are subject to u.s .
federal income tax , as well as income tax of multiple state and foreign jurisdictions .
the company has accumulated significant losses since its inception in 1981 .
all tax years remain subject to examination by major tax jurisdictions , including the federal government and the commonwealth of massachusetts .
however , since the company has net operating loss and tax credit carry forwards which may be utilized in future years to offset taxable income , those years may also be subject to review by relevant taxing authorities if the carry forwards are utilized .
note 15 .
commitments and contingencies the company 2019s acquisition of impella provided that abiomed was required to make contingent payments to impella 2019s former shareholders as follows : 2022 upon fda approval of the impella 2.5 device , a payment of $ 5583333 2022 upon fda approval of the impella 5.0 device , a payment of $ 5583333 , and 2022 upon the sale of 1000 units of impella 2019s products worldwide , a payment of $ 5583334 .
the two milestones related to sales and fda approval of the impella 2.5 device were achieved and paid prior to march 31 , 2009 .
in april 2009 , the company received fda 510 ( k ) clearance of its impella 5.0 product , triggering an obligation to pay the milestone related to the impella 5.0 device .
in may 2009 , the company paid $ 1.8 million of this final milestone in cash and elected to pay the remaining amount through the issuance of approximately 664612 shares of common stock. .
|
| | balance at march 31 2008 | $ 168 |
|---:|:----------------------------------------------------------------------------------|:-------------|
| 0 | reductions for tax positions for closing of the applicable statute of limitations | -168 ( 168 ) |
| 1 | balance at march 31 2009 | $ 2014 |
|
abiomed , inc .
and subsidiaries notes to consolidated financial statements 2014 ( continued ) note 14 .
income taxes ( continued ) on april 1 , 2007 , the company adopted financial interpretation fin no .
48 , accounting for uncertainty in income taxes 2014an interpretation of fasb statement no .
109 ( 201cfin no .
48 201d ) , which clarifies the accounting for uncertainty in income taxes recognized in an enterprise 2019s financial statements in accordance with fasb statement no .
109 , accounting for income taxes .
fin no .
48 prescribes a recognition threshold and measurement process for recording in the financial statements uncertain tax positions taken or expected to be taken in a tax return .
fin no .
48 also provides guidance on derecognition , classification , interest and penalties , accounting in interim periods , disclosure , and transition and defines the criteria that must be met for the benefits of a tax position to be recognized .
as a result of its adoption of fin no .
48 , the company recorded the cumulative effect of the change in accounting principle of $ 0.3 million as a decrease to opening retained earnings and an increase to other long-term liabilities as of april 1 , 2007 .
this adjustment related to state nexus for failure to file tax returns in various states for the years ended march 31 , 2003 , 2004 , and 2005 .
the company initiated a voluntary disclosure plan , which it completed in fiscal year 2009 .
the company elected to recognize interest and/or penalties related to income tax matters in income tax expense in its consolidated statements of operations .
as of march 31 , 2009 , the company had remitted all outstanding amounts owed to each of the states in connection with the outstanding taxes owed at march 31 , 2008 .
as such , the company had no fin no .
48 liability at march 31 , 2009 .
on a quarterly basis , the company accrues for the effects of uncertain tax positions and the related potential penalties and interest .
it is reasonably possible that the amount of the unrecognized tax benefit with respect to certain of the unrecognized tax positions will increase or decrease during the next 12 months ; however , it is not expected that the change will have a significant effect on the company 2019s results of operations or financial position .
a reconciliation of the beginning and ending balance of unrecognized tax benefits , excluding accrued interest recorded at march 31 , 2009 ( in thousands ) is as follows: ._| | balance at march 31 2008 | $ 168 |
|---:|:----------------------------------------------------------------------------------|:-------------|
| 0 | reductions for tax positions for closing of the applicable statute of limitations | -168 ( 168 ) |
| 1 | balance at march 31 2009 | $ 2014 |_the company and its subsidiaries are subject to u.s .
federal income tax , as well as income tax of multiple state and foreign jurisdictions .
the company has accumulated significant losses since its inception in 1981 .
all tax years remain subject to examination by major tax jurisdictions , including the federal government and the commonwealth of massachusetts .
however , since the company has net operating loss and tax credit carry forwards which may be utilized in future years to offset taxable income , those years may also be subject to review by relevant taxing authorities if the carry forwards are utilized .
note 15 .
commitments and contingencies the company 2019s acquisition of impella provided that abiomed was required to make contingent payments to impella 2019s former shareholders as follows : 2022 upon fda approval of the impella 2.5 device , a payment of $ 5583333 2022 upon fda approval of the impella 5.0 device , a payment of $ 5583333 , and 2022 upon the sale of 1000 units of impella 2019s products worldwide , a payment of $ 5583334 .
the two milestones related to sales and fda approval of the impella 2.5 device were achieved and paid prior to march 31 , 2009 .
in april 2009 , the company received fda 510 ( k ) clearance of its impella 5.0 product , triggering an obligation to pay the milestone related to the impella 5.0 device .
in may 2009 , the company paid $ 1.8 million of this final milestone in cash and elected to pay the remaining amount through the issuance of approximately 664612 shares of common stock. .
| 2,009
| 88
|
ABMD
|
Abiomed, Inc.
|
Healthcare
|
Medical Devices
|
Danvers, MA
|
2018-01-01
| 815,094
|
1981
|
what are the total contingent payments relating to impella?
|
5583331
|
multiply(5583334, const_3)
|
abiomed , inc .
and subsidiaries notes to consolidated financial statements 2014 ( continued ) note 14 .
income taxes ( continued ) on april 1 , 2007 , the company adopted financial interpretation fin no .
48 , accounting for uncertainty in income taxes 2014an interpretation of fasb statement no .
109 ( 201cfin no .
48 201d ) , which clarifies the accounting for uncertainty in income taxes recognized in an enterprise 2019s financial statements in accordance with fasb statement no .
109 , accounting for income taxes .
fin no .
48 prescribes a recognition threshold and measurement process for recording in the financial statements uncertain tax positions taken or expected to be taken in a tax return .
fin no .
48 also provides guidance on derecognition , classification , interest and penalties , accounting in interim periods , disclosure , and transition and defines the criteria that must be met for the benefits of a tax position to be recognized .
as a result of its adoption of fin no .
48 , the company recorded the cumulative effect of the change in accounting principle of $ 0.3 million as a decrease to opening retained earnings and an increase to other long-term liabilities as of april 1 , 2007 .
this adjustment related to state nexus for failure to file tax returns in various states for the years ended march 31 , 2003 , 2004 , and 2005 .
the company initiated a voluntary disclosure plan , which it completed in fiscal year 2009 .
the company elected to recognize interest and/or penalties related to income tax matters in income tax expense in its consolidated statements of operations .
as of march 31 , 2009 , the company had remitted all outstanding amounts owed to each of the states in connection with the outstanding taxes owed at march 31 , 2008 .
as such , the company had no fin no .
48 liability at march 31 , 2009 .
on a quarterly basis , the company accrues for the effects of uncertain tax positions and the related potential penalties and interest .
it is reasonably possible that the amount of the unrecognized tax benefit with respect to certain of the unrecognized tax positions will increase or decrease during the next 12 months ; however , it is not expected that the change will have a significant effect on the company 2019s results of operations or financial position .
a reconciliation of the beginning and ending balance of unrecognized tax benefits , excluding accrued interest recorded at march 31 , 2009 ( in thousands ) is as follows: .
|
the company and its subsidiaries are subject to u.s .
federal income tax , as well as income tax of multiple state and foreign jurisdictions .
the company has accumulated significant losses since its inception in 1981 .
all tax years remain subject to examination by major tax jurisdictions , including the federal government and the commonwealth of massachusetts .
however , since the company has net operating loss and tax credit carry forwards which may be utilized in future years to offset taxable income , those years may also be subject to review by relevant taxing authorities if the carry forwards are utilized .
note 15 .
commitments and contingencies the company 2019s acquisition of impella provided that abiomed was required to make contingent payments to impella 2019s former shareholders as follows : 2022 upon fda approval of the impella 2.5 device , a payment of $ 5583333 2022 upon fda approval of the impella 5.0 device , a payment of $ 5583333 , and 2022 upon the sale of 1000 units of impella 2019s products worldwide , a payment of $ 5583334 .
the two milestones related to sales and fda approval of the impella 2.5 device were achieved and paid prior to march 31 , 2009 .
in april 2009 , the company received fda 510 ( k ) clearance of its impella 5.0 product , triggering an obligation to pay the milestone related to the impella 5.0 device .
in may 2009 , the company paid $ 1.8 million of this final milestone in cash and elected to pay the remaining amount through the issuance of approximately 664612 shares of common stock. .
|
| | balance at march 31 2008 | $ 168 |
|---:|:----------------------------------------------------------------------------------|:-------------|
| 0 | reductions for tax positions for closing of the applicable statute of limitations | -168 ( 168 ) |
| 1 | balance at march 31 2009 | $ 2014 |
|
abiomed , inc .
and subsidiaries notes to consolidated financial statements 2014 ( continued ) note 14 .
income taxes ( continued ) on april 1 , 2007 , the company adopted financial interpretation fin no .
48 , accounting for uncertainty in income taxes 2014an interpretation of fasb statement no .
109 ( 201cfin no .
48 201d ) , which clarifies the accounting for uncertainty in income taxes recognized in an enterprise 2019s financial statements in accordance with fasb statement no .
109 , accounting for income taxes .
fin no .
48 prescribes a recognition threshold and measurement process for recording in the financial statements uncertain tax positions taken or expected to be taken in a tax return .
fin no .
48 also provides guidance on derecognition , classification , interest and penalties , accounting in interim periods , disclosure , and transition and defines the criteria that must be met for the benefits of a tax position to be recognized .
as a result of its adoption of fin no .
48 , the company recorded the cumulative effect of the change in accounting principle of $ 0.3 million as a decrease to opening retained earnings and an increase to other long-term liabilities as of april 1 , 2007 .
this adjustment related to state nexus for failure to file tax returns in various states for the years ended march 31 , 2003 , 2004 , and 2005 .
the company initiated a voluntary disclosure plan , which it completed in fiscal year 2009 .
the company elected to recognize interest and/or penalties related to income tax matters in income tax expense in its consolidated statements of operations .
as of march 31 , 2009 , the company had remitted all outstanding amounts owed to each of the states in connection with the outstanding taxes owed at march 31 , 2008 .
as such , the company had no fin no .
48 liability at march 31 , 2009 .
on a quarterly basis , the company accrues for the effects of uncertain tax positions and the related potential penalties and interest .
it is reasonably possible that the amount of the unrecognized tax benefit with respect to certain of the unrecognized tax positions will increase or decrease during the next 12 months ; however , it is not expected that the change will have a significant effect on the company 2019s results of operations or financial position .
a reconciliation of the beginning and ending balance of unrecognized tax benefits , excluding accrued interest recorded at march 31 , 2009 ( in thousands ) is as follows: ._| | balance at march 31 2008 | $ 168 |
|---:|:----------------------------------------------------------------------------------|:-------------|
| 0 | reductions for tax positions for closing of the applicable statute of limitations | -168 ( 168 ) |
| 1 | balance at march 31 2009 | $ 2014 |_the company and its subsidiaries are subject to u.s .
federal income tax , as well as income tax of multiple state and foreign jurisdictions .
the company has accumulated significant losses since its inception in 1981 .
all tax years remain subject to examination by major tax jurisdictions , including the federal government and the commonwealth of massachusetts .
however , since the company has net operating loss and tax credit carry forwards which may be utilized in future years to offset taxable income , those years may also be subject to review by relevant taxing authorities if the carry forwards are utilized .
note 15 .
commitments and contingencies the company 2019s acquisition of impella provided that abiomed was required to make contingent payments to impella 2019s former shareholders as follows : 2022 upon fda approval of the impella 2.5 device , a payment of $ 5583333 2022 upon fda approval of the impella 5.0 device , a payment of $ 5583333 , and 2022 upon the sale of 1000 units of impella 2019s products worldwide , a payment of $ 5583334 .
the two milestones related to sales and fda approval of the impella 2.5 device were achieved and paid prior to march 31 , 2009 .
in april 2009 , the company received fda 510 ( k ) clearance of its impella 5.0 product , triggering an obligation to pay the milestone related to the impella 5.0 device .
in may 2009 , the company paid $ 1.8 million of this final milestone in cash and elected to pay the remaining amount through the issuance of approximately 664612 shares of common stock. .
| 2,009
| 88
|
ABMD
|
Abiomed, Inc.
|
Healthcare
|
Medical Devices
|
Danvers, MA
|
2018-01-01
| 815,094
|
1981
| null | null |
finqa68
|
in 2006 what percentage of consumer packaging sales were represented by foodservice net sales?
|
16%
|
divide(396, 2455)
|
earnings for the first quarter of 2007 are expected to be lower than in the fourth quarter of 2006 .
containerboard export sales volumes are expected to decline due to scheduled first-quarter main- tenance outages .
sales volumes for u.s .
converted products will be higher due to more shipping days , but expected softer demand should cause the ship- ments per day to decrease .
average sales price real- izations are expected to be comparable to fourth- quarter averages .
an additional containerboard price increase was announced in january that is expected to be fully realized in the second quarter .
costs for wood , energy , starch , adhesives and freight are expected to increase .
manufacturing costs will be higher due to costs associated with scheduled main- tenance outages in the containerboard mills .
euro- pean container operating results are expected to improve as seasonally higher sales volumes and improved margins more than offset slightly higher manufacturing costs .
consumer packaging demand and pricing for consumer packaging prod- ucts correlate closely with consumer spending and general economic activity .
in addition to prices and volumes , major factors affecting the profitability of consumer packaging are raw material and energy costs , manufacturing efficiency and product mix .
consumer packaging net sales increased 9% ( 9 % ) compared with 2005 and 7% ( 7 % ) compared with 2004 .
operating profits rose 8% ( 8 % ) from 2005 , but declined 15% ( 15 % ) from 2004 levels .
compared with 2005 , higher sales volumes ( $ 9 million ) , improved average sales price realizations ( $ 33 million ) , reduced lack-of-order downtime ( $ 18 million ) , and favorable mill oper- ations ( $ 25 million ) were partially offset by higher raw material costs ( $ 19 million ) and freight costs ( $ 21 million ) , unfavorable mix ( $ 14 million ) and other costs ( $ 21 million ) .
consumer packaging in millions 2006 2005 2004 .
|
coated paperboard net sales of $ 1.5 billion in 2006 were higher than $ 1.3 billion in 2005 and $ 1.1 billion in 2004 .
sales volumes increased in 2006 compared with 2005 , particularly in the folding car- ton board segment , reflecting improved demand for coated paperboard products .
in 2006 , our coated paperboard mills took 4000 tons of lack-of-order downtime , compared with 82000 tons of lack-of-order downtime in 2005 .
average sales price realizations were substantially improved in the cur- rent year , principally for folding carton board and cupstock board .
operating profits were 51% ( 51 % ) higher in 2006 than in 2005 , and 7% ( 7 % ) better than in 2004 .
the impact of the higher sales prices along with more favorable manufacturing operations due to strong performance at the mills more than offset higher input costs for energy and freight .
foodservice net sales declined to $ 396 million in 2006 , compared with $ 437 million in 2005 and $ 480 million in 2004 , due principally to the sale of the jackson , tennessee plant in july 2005 .
sales vol- umes were lower in 2006 than in 2005 , although average sales prices were higher due to the realiza- tion of price increases implemented during 2005 .
operating profits for 2006 improved over 2005 and 2004 levels largely due to the benefits from higher sales prices .
raw material costs for bleached board were higher than in 2005 , but manufacturing costs were more favorable due to increased productivity and reduced waste .
shorewood net sales of $ 670 million were down from $ 691 million in 2005 and $ 687 million in 2004 .
sales volumes in 2006 were down from 2005 levels due to weak demand in the home entertainment and consumer products markets , although demand was strong in the tobacco segment .
average sales prices for the year were lower than in 2005 .
operating prof- its were down significantly from both 2005 and 2004 due to the decline in sales , particularly in the higher margin home entertainment markets , higher raw material costs for bleached board and certain inventory adjustment costs .
entering 2007 , coated paperboard first-quarter sales volumes are expected to be seasonally stronger than in the fourth quarter 2006 for folding carton board and bristols .
average sales price realizations are expected to rise with a price increase announced in january .
it is anticipated that manufacturing costs will improve versus an unfavorable fourth quarter .
foodservice earnings for the first quarter of 2007 are expected to decline due to seasonally weaker vol- ume .
however , sales price realizations will be slightly higher , and the seasonal switch to hot cup contain- ers will have a favorable impact on product mix .
shorewood sales volumes for the first quarter of 2007 are expected to seasonally decline , but the earnings impact will be partially offset by pricing improvements and an improved product mix .
distribution our distribution business , principally represented by our xpedx business , markets a diverse array of products and supply chain services to customers in .
|
| | in millions | 2006 | 2005 | 2004 |
|---:|:-----------------|:-------|:-------|:-------|
| 0 | sales | $ 2455 | $ 2245 | $ 2295 |
| 1 | operating profit | $ 131 | $ 121 | $ 155 |
|
earnings for the first quarter of 2007 are expected to be lower than in the fourth quarter of 2006 .
containerboard export sales volumes are expected to decline due to scheduled first-quarter main- tenance outages .
sales volumes for u.s .
converted products will be higher due to more shipping days , but expected softer demand should cause the ship- ments per day to decrease .
average sales price real- izations are expected to be comparable to fourth- quarter averages .
an additional containerboard price increase was announced in january that is expected to be fully realized in the second quarter .
costs for wood , energy , starch , adhesives and freight are expected to increase .
manufacturing costs will be higher due to costs associated with scheduled main- tenance outages in the containerboard mills .
euro- pean container operating results are expected to improve as seasonally higher sales volumes and improved margins more than offset slightly higher manufacturing costs .
consumer packaging demand and pricing for consumer packaging prod- ucts correlate closely with consumer spending and general economic activity .
in addition to prices and volumes , major factors affecting the profitability of consumer packaging are raw material and energy costs , manufacturing efficiency and product mix .
consumer packaging net sales increased 9% ( 9 % ) compared with 2005 and 7% ( 7 % ) compared with 2004 .
operating profits rose 8% ( 8 % ) from 2005 , but declined 15% ( 15 % ) from 2004 levels .
compared with 2005 , higher sales volumes ( $ 9 million ) , improved average sales price realizations ( $ 33 million ) , reduced lack-of-order downtime ( $ 18 million ) , and favorable mill oper- ations ( $ 25 million ) were partially offset by higher raw material costs ( $ 19 million ) and freight costs ( $ 21 million ) , unfavorable mix ( $ 14 million ) and other costs ( $ 21 million ) .
consumer packaging in millions 2006 2005 2004 ._| | in millions | 2006 | 2005 | 2004 |
|---:|:-----------------|:-------|:-------|:-------|
| 0 | sales | $ 2455 | $ 2245 | $ 2295 |
| 1 | operating profit | $ 131 | $ 121 | $ 155 |_coated paperboard net sales of $ 1.5 billion in 2006 were higher than $ 1.3 billion in 2005 and $ 1.1 billion in 2004 .
sales volumes increased in 2006 compared with 2005 , particularly in the folding car- ton board segment , reflecting improved demand for coated paperboard products .
in 2006 , our coated paperboard mills took 4000 tons of lack-of-order downtime , compared with 82000 tons of lack-of-order downtime in 2005 .
average sales price realizations were substantially improved in the cur- rent year , principally for folding carton board and cupstock board .
operating profits were 51% ( 51 % ) higher in 2006 than in 2005 , and 7% ( 7 % ) better than in 2004 .
the impact of the higher sales prices along with more favorable manufacturing operations due to strong performance at the mills more than offset higher input costs for energy and freight .
foodservice net sales declined to $ 396 million in 2006 , compared with $ 437 million in 2005 and $ 480 million in 2004 , due principally to the sale of the jackson , tennessee plant in july 2005 .
sales vol- umes were lower in 2006 than in 2005 , although average sales prices were higher due to the realiza- tion of price increases implemented during 2005 .
operating profits for 2006 improved over 2005 and 2004 levels largely due to the benefits from higher sales prices .
raw material costs for bleached board were higher than in 2005 , but manufacturing costs were more favorable due to increased productivity and reduced waste .
shorewood net sales of $ 670 million were down from $ 691 million in 2005 and $ 687 million in 2004 .
sales volumes in 2006 were down from 2005 levels due to weak demand in the home entertainment and consumer products markets , although demand was strong in the tobacco segment .
average sales prices for the year were lower than in 2005 .
operating prof- its were down significantly from both 2005 and 2004 due to the decline in sales , particularly in the higher margin home entertainment markets , higher raw material costs for bleached board and certain inventory adjustment costs .
entering 2007 , coated paperboard first-quarter sales volumes are expected to be seasonally stronger than in the fourth quarter 2006 for folding carton board and bristols .
average sales price realizations are expected to rise with a price increase announced in january .
it is anticipated that manufacturing costs will improve versus an unfavorable fourth quarter .
foodservice earnings for the first quarter of 2007 are expected to decline due to seasonally weaker vol- ume .
however , sales price realizations will be slightly higher , and the seasonal switch to hot cup contain- ers will have a favorable impact on product mix .
shorewood sales volumes for the first quarter of 2007 are expected to seasonally decline , but the earnings impact will be partially offset by pricing improvements and an improved product mix .
distribution our distribution business , principally represented by our xpedx business , markets a diverse array of products and supply chain services to customers in .
| 2,006
| 32
|
IP
|
International Paper
|
Materials
|
Paper & Plastic Packaging Products & Materials
|
Memphis, Tennessee
|
1957-03-04
| 51,434
|
1898
|
in 2006 what percentage of consumer packaging sales were represented by foodservice net sales?
|
16%
|
divide(396, 2455)
|
earnings for the first quarter of 2007 are expected to be lower than in the fourth quarter of 2006 .
containerboard export sales volumes are expected to decline due to scheduled first-quarter main- tenance outages .
sales volumes for u.s .
converted products will be higher due to more shipping days , but expected softer demand should cause the ship- ments per day to decrease .
average sales price real- izations are expected to be comparable to fourth- quarter averages .
an additional containerboard price increase was announced in january that is expected to be fully realized in the second quarter .
costs for wood , energy , starch , adhesives and freight are expected to increase .
manufacturing costs will be higher due to costs associated with scheduled main- tenance outages in the containerboard mills .
euro- pean container operating results are expected to improve as seasonally higher sales volumes and improved margins more than offset slightly higher manufacturing costs .
consumer packaging demand and pricing for consumer packaging prod- ucts correlate closely with consumer spending and general economic activity .
in addition to prices and volumes , major factors affecting the profitability of consumer packaging are raw material and energy costs , manufacturing efficiency and product mix .
consumer packaging net sales increased 9% ( 9 % ) compared with 2005 and 7% ( 7 % ) compared with 2004 .
operating profits rose 8% ( 8 % ) from 2005 , but declined 15% ( 15 % ) from 2004 levels .
compared with 2005 , higher sales volumes ( $ 9 million ) , improved average sales price realizations ( $ 33 million ) , reduced lack-of-order downtime ( $ 18 million ) , and favorable mill oper- ations ( $ 25 million ) were partially offset by higher raw material costs ( $ 19 million ) and freight costs ( $ 21 million ) , unfavorable mix ( $ 14 million ) and other costs ( $ 21 million ) .
consumer packaging in millions 2006 2005 2004 .
|
coated paperboard net sales of $ 1.5 billion in 2006 were higher than $ 1.3 billion in 2005 and $ 1.1 billion in 2004 .
sales volumes increased in 2006 compared with 2005 , particularly in the folding car- ton board segment , reflecting improved demand for coated paperboard products .
in 2006 , our coated paperboard mills took 4000 tons of lack-of-order downtime , compared with 82000 tons of lack-of-order downtime in 2005 .
average sales price realizations were substantially improved in the cur- rent year , principally for folding carton board and cupstock board .
operating profits were 51% ( 51 % ) higher in 2006 than in 2005 , and 7% ( 7 % ) better than in 2004 .
the impact of the higher sales prices along with more favorable manufacturing operations due to strong performance at the mills more than offset higher input costs for energy and freight .
foodservice net sales declined to $ 396 million in 2006 , compared with $ 437 million in 2005 and $ 480 million in 2004 , due principally to the sale of the jackson , tennessee plant in july 2005 .
sales vol- umes were lower in 2006 than in 2005 , although average sales prices were higher due to the realiza- tion of price increases implemented during 2005 .
operating profits for 2006 improved over 2005 and 2004 levels largely due to the benefits from higher sales prices .
raw material costs for bleached board were higher than in 2005 , but manufacturing costs were more favorable due to increased productivity and reduced waste .
shorewood net sales of $ 670 million were down from $ 691 million in 2005 and $ 687 million in 2004 .
sales volumes in 2006 were down from 2005 levels due to weak demand in the home entertainment and consumer products markets , although demand was strong in the tobacco segment .
average sales prices for the year were lower than in 2005 .
operating prof- its were down significantly from both 2005 and 2004 due to the decline in sales , particularly in the higher margin home entertainment markets , higher raw material costs for bleached board and certain inventory adjustment costs .
entering 2007 , coated paperboard first-quarter sales volumes are expected to be seasonally stronger than in the fourth quarter 2006 for folding carton board and bristols .
average sales price realizations are expected to rise with a price increase announced in january .
it is anticipated that manufacturing costs will improve versus an unfavorable fourth quarter .
foodservice earnings for the first quarter of 2007 are expected to decline due to seasonally weaker vol- ume .
however , sales price realizations will be slightly higher , and the seasonal switch to hot cup contain- ers will have a favorable impact on product mix .
shorewood sales volumes for the first quarter of 2007 are expected to seasonally decline , but the earnings impact will be partially offset by pricing improvements and an improved product mix .
distribution our distribution business , principally represented by our xpedx business , markets a diverse array of products and supply chain services to customers in .
|
| | in millions | 2006 | 2005 | 2004 |
|---:|:-----------------|:-------|:-------|:-------|
| 0 | sales | $ 2455 | $ 2245 | $ 2295 |
| 1 | operating profit | $ 131 | $ 121 | $ 155 |
|
earnings for the first quarter of 2007 are expected to be lower than in the fourth quarter of 2006 .
containerboard export sales volumes are expected to decline due to scheduled first-quarter main- tenance outages .
sales volumes for u.s .
converted products will be higher due to more shipping days , but expected softer demand should cause the ship- ments per day to decrease .
average sales price real- izations are expected to be comparable to fourth- quarter averages .
an additional containerboard price increase was announced in january that is expected to be fully realized in the second quarter .
costs for wood , energy , starch , adhesives and freight are expected to increase .
manufacturing costs will be higher due to costs associated with scheduled main- tenance outages in the containerboard mills .
euro- pean container operating results are expected to improve as seasonally higher sales volumes and improved margins more than offset slightly higher manufacturing costs .
consumer packaging demand and pricing for consumer packaging prod- ucts correlate closely with consumer spending and general economic activity .
in addition to prices and volumes , major factors affecting the profitability of consumer packaging are raw material and energy costs , manufacturing efficiency and product mix .
consumer packaging net sales increased 9% ( 9 % ) compared with 2005 and 7% ( 7 % ) compared with 2004 .
operating profits rose 8% ( 8 % ) from 2005 , but declined 15% ( 15 % ) from 2004 levels .
compared with 2005 , higher sales volumes ( $ 9 million ) , improved average sales price realizations ( $ 33 million ) , reduced lack-of-order downtime ( $ 18 million ) , and favorable mill oper- ations ( $ 25 million ) were partially offset by higher raw material costs ( $ 19 million ) and freight costs ( $ 21 million ) , unfavorable mix ( $ 14 million ) and other costs ( $ 21 million ) .
consumer packaging in millions 2006 2005 2004 ._| | in millions | 2006 | 2005 | 2004 |
|---:|:-----------------|:-------|:-------|:-------|
| 0 | sales | $ 2455 | $ 2245 | $ 2295 |
| 1 | operating profit | $ 131 | $ 121 | $ 155 |_coated paperboard net sales of $ 1.5 billion in 2006 were higher than $ 1.3 billion in 2005 and $ 1.1 billion in 2004 .
sales volumes increased in 2006 compared with 2005 , particularly in the folding car- ton board segment , reflecting improved demand for coated paperboard products .
in 2006 , our coated paperboard mills took 4000 tons of lack-of-order downtime , compared with 82000 tons of lack-of-order downtime in 2005 .
average sales price realizations were substantially improved in the cur- rent year , principally for folding carton board and cupstock board .
operating profits were 51% ( 51 % ) higher in 2006 than in 2005 , and 7% ( 7 % ) better than in 2004 .
the impact of the higher sales prices along with more favorable manufacturing operations due to strong performance at the mills more than offset higher input costs for energy and freight .
foodservice net sales declined to $ 396 million in 2006 , compared with $ 437 million in 2005 and $ 480 million in 2004 , due principally to the sale of the jackson , tennessee plant in july 2005 .
sales vol- umes were lower in 2006 than in 2005 , although average sales prices were higher due to the realiza- tion of price increases implemented during 2005 .
operating profits for 2006 improved over 2005 and 2004 levels largely due to the benefits from higher sales prices .
raw material costs for bleached board were higher than in 2005 , but manufacturing costs were more favorable due to increased productivity and reduced waste .
shorewood net sales of $ 670 million were down from $ 691 million in 2005 and $ 687 million in 2004 .
sales volumes in 2006 were down from 2005 levels due to weak demand in the home entertainment and consumer products markets , although demand was strong in the tobacco segment .
average sales prices for the year were lower than in 2005 .
operating prof- its were down significantly from both 2005 and 2004 due to the decline in sales , particularly in the higher margin home entertainment markets , higher raw material costs for bleached board and certain inventory adjustment costs .
entering 2007 , coated paperboard first-quarter sales volumes are expected to be seasonally stronger than in the fourth quarter 2006 for folding carton board and bristols .
average sales price realizations are expected to rise with a price increase announced in january .
it is anticipated that manufacturing costs will improve versus an unfavorable fourth quarter .
foodservice earnings for the first quarter of 2007 are expected to decline due to seasonally weaker vol- ume .
however , sales price realizations will be slightly higher , and the seasonal switch to hot cup contain- ers will have a favorable impact on product mix .
shorewood sales volumes for the first quarter of 2007 are expected to seasonally decline , but the earnings impact will be partially offset by pricing improvements and an improved product mix .
distribution our distribution business , principally represented by our xpedx business , markets a diverse array of products and supply chain services to customers in .
| 2,006
| 32
|
IP
|
International Paper
|
Materials
|
Paper & Plastic Packaging Products & Materials
|
Memphis, Tennessee
|
1957-03-04
| 51,434
|
1898
| null | null |
finqa69
|
what is the rate of return of an investment in nasdaq from 2017 to 2018?
|
-3.6%
|
divide(subtract(165.84, 172.11), 172.11)
|
part ii .
item 5 .
market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities our common stock is traded on the nasdaq global select market under the symbol cdns .
as of february 2 , 2019 , we had 523 registered stockholders and approximately 56000 beneficial owners of our common stock .
stockholder return performance graph the following graph compares the cumulative 5-year total stockholder return on our common stock relative to the cumulative total return of the nasdaq composite index , the s&p 500 index and the s&p 500 information technology index .
the graph assumes that the value of the investment in our common stock and in each index on december 28 , 2013 ( including reinvestment of dividends ) was $ 100 and tracks it each year thereafter on the last day of our fiscal year through december 29 , 2018 and , for each index , on the last day of the calendar year .
comparison of 5 year cumulative total return* among cadence design systems , inc. , the nasdaq composite index , the s&p 500 index and the s&p 500 information technology index 12/29/181/2/16 12/30/1712/28/13 12/31/161/3/15 *$ 100 invested on 12/28/13 in stock or index , including reinvestment of dividends .
fiscal year ending december 29 .
copyright a9 2019 standard & poor 2019s , a division of s&p global .
all rights reserved .
nasdaq compositecadence design systems , inc .
s&p 500 s&p 500 information technology .
|
the stock price performance included in this graph is not necessarily indicative of future stock price performance. .
|
| | | 12/28/2013 | 1/3/2015 | 1/2/2016 | 12/31/2016 | 12/30/2017 | 12/29/2018 |
|---:|:-------------------------------|:-------------|:-----------|:-----------|:-------------|:-------------|:-------------|
| 0 | cadence design systems inc . | $ 100.00 | $ 135.18 | $ 149.39 | $ 181.05 | $ 300.22 | $ 311.13 |
| 1 | nasdaq composite | 100.00 | 112.60 | 113.64 | 133.19 | 172.11 | 165.84 |
| 2 | s&p 500 | 100.00 | 110.28 | 109.54 | 129.05 | 157.22 | 150.33 |
| 3 | s&p 500 information technology | 100.00 | 115.49 | 121.08 | 144.85 | 201.10 | 200.52 |
|
part ii .
item 5 .
market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities our common stock is traded on the nasdaq global select market under the symbol cdns .
as of february 2 , 2019 , we had 523 registered stockholders and approximately 56000 beneficial owners of our common stock .
stockholder return performance graph the following graph compares the cumulative 5-year total stockholder return on our common stock relative to the cumulative total return of the nasdaq composite index , the s&p 500 index and the s&p 500 information technology index .
the graph assumes that the value of the investment in our common stock and in each index on december 28 , 2013 ( including reinvestment of dividends ) was $ 100 and tracks it each year thereafter on the last day of our fiscal year through december 29 , 2018 and , for each index , on the last day of the calendar year .
comparison of 5 year cumulative total return* among cadence design systems , inc. , the nasdaq composite index , the s&p 500 index and the s&p 500 information technology index 12/29/181/2/16 12/30/1712/28/13 12/31/161/3/15 *$ 100 invested on 12/28/13 in stock or index , including reinvestment of dividends .
fiscal year ending december 29 .
copyright a9 2019 standard & poor 2019s , a division of s&p global .
all rights reserved .
nasdaq compositecadence design systems , inc .
s&p 500 s&p 500 information technology ._| | | 12/28/2013 | 1/3/2015 | 1/2/2016 | 12/31/2016 | 12/30/2017 | 12/29/2018 |
|---:|:-------------------------------|:-------------|:-----------|:-----------|:-------------|:-------------|:-------------|
| 0 | cadence design systems inc . | $ 100.00 | $ 135.18 | $ 149.39 | $ 181.05 | $ 300.22 | $ 311.13 |
| 1 | nasdaq composite | 100.00 | 112.60 | 113.64 | 133.19 | 172.11 | 165.84 |
| 2 | s&p 500 | 100.00 | 110.28 | 109.54 | 129.05 | 157.22 | 150.33 |
| 3 | s&p 500 information technology | 100.00 | 115.49 | 121.08 | 144.85 | 201.10 | 200.52 |_the stock price performance included in this graph is not necessarily indicative of future stock price performance. .
| 2,018
| 31
|
CDNS
|
Cadence Design Systems
|
Information Technology
|
Application Software
|
San Jose, California
|
2017-09-18
| 813,672
|
1988
|
what is the rate of return of an investment in nasdaq from 2017 to 2018?
|
-3.6%
|
divide(subtract(165.84, 172.11), 172.11)
|
part ii .
item 5 .
market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities our common stock is traded on the nasdaq global select market under the symbol cdns .
as of february 2 , 2019 , we had 523 registered stockholders and approximately 56000 beneficial owners of our common stock .
stockholder return performance graph the following graph compares the cumulative 5-year total stockholder return on our common stock relative to the cumulative total return of the nasdaq composite index , the s&p 500 index and the s&p 500 information technology index .
the graph assumes that the value of the investment in our common stock and in each index on december 28 , 2013 ( including reinvestment of dividends ) was $ 100 and tracks it each year thereafter on the last day of our fiscal year through december 29 , 2018 and , for each index , on the last day of the calendar year .
comparison of 5 year cumulative total return* among cadence design systems , inc. , the nasdaq composite index , the s&p 500 index and the s&p 500 information technology index 12/29/181/2/16 12/30/1712/28/13 12/31/161/3/15 *$ 100 invested on 12/28/13 in stock or index , including reinvestment of dividends .
fiscal year ending december 29 .
copyright a9 2019 standard & poor 2019s , a division of s&p global .
all rights reserved .
nasdaq compositecadence design systems , inc .
s&p 500 s&p 500 information technology .
|
the stock price performance included in this graph is not necessarily indicative of future stock price performance. .
|
| | | 12/28/2013 | 1/3/2015 | 1/2/2016 | 12/31/2016 | 12/30/2017 | 12/29/2018 |
|---:|:-------------------------------|:-------------|:-----------|:-----------|:-------------|:-------------|:-------------|
| 0 | cadence design systems inc . | $ 100.00 | $ 135.18 | $ 149.39 | $ 181.05 | $ 300.22 | $ 311.13 |
| 1 | nasdaq composite | 100.00 | 112.60 | 113.64 | 133.19 | 172.11 | 165.84 |
| 2 | s&p 500 | 100.00 | 110.28 | 109.54 | 129.05 | 157.22 | 150.33 |
| 3 | s&p 500 information technology | 100.00 | 115.49 | 121.08 | 144.85 | 201.10 | 200.52 |
|
part ii .
item 5 .
market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities our common stock is traded on the nasdaq global select market under the symbol cdns .
as of february 2 , 2019 , we had 523 registered stockholders and approximately 56000 beneficial owners of our common stock .
stockholder return performance graph the following graph compares the cumulative 5-year total stockholder return on our common stock relative to the cumulative total return of the nasdaq composite index , the s&p 500 index and the s&p 500 information technology index .
the graph assumes that the value of the investment in our common stock and in each index on december 28 , 2013 ( including reinvestment of dividends ) was $ 100 and tracks it each year thereafter on the last day of our fiscal year through december 29 , 2018 and , for each index , on the last day of the calendar year .
comparison of 5 year cumulative total return* among cadence design systems , inc. , the nasdaq composite index , the s&p 500 index and the s&p 500 information technology index 12/29/181/2/16 12/30/1712/28/13 12/31/161/3/15 *$ 100 invested on 12/28/13 in stock or index , including reinvestment of dividends .
fiscal year ending december 29 .
copyright a9 2019 standard & poor 2019s , a division of s&p global .
all rights reserved .
nasdaq compositecadence design systems , inc .
s&p 500 s&p 500 information technology ._| | | 12/28/2013 | 1/3/2015 | 1/2/2016 | 12/31/2016 | 12/30/2017 | 12/29/2018 |
|---:|:-------------------------------|:-------------|:-----------|:-----------|:-------------|:-------------|:-------------|
| 0 | cadence design systems inc . | $ 100.00 | $ 135.18 | $ 149.39 | $ 181.05 | $ 300.22 | $ 311.13 |
| 1 | nasdaq composite | 100.00 | 112.60 | 113.64 | 133.19 | 172.11 | 165.84 |
| 2 | s&p 500 | 100.00 | 110.28 | 109.54 | 129.05 | 157.22 | 150.33 |
| 3 | s&p 500 information technology | 100.00 | 115.49 | 121.08 | 144.85 | 201.10 | 200.52 |_the stock price performance included in this graph is not necessarily indicative of future stock price performance. .
| 2,018
| 31
|
CDNS
|
Cadence Design Systems
|
Information Technology
|
Application Software
|
San Jose, California
|
2017-09-18
| 813,672
|
1988
| null | null |
finqa70
|
what is the percentage reduction in the loews common stock from 2013 to 2014
|
-12.4%
|
divide(subtract(110.59, 126.23), 126.23)
|
item 5 .
market for the registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities the following graph compares annual total return of our common stock , the standard & poor 2019s 500 composite stock index ( 201cs&p 500 index 201d ) and our peer group ( 201cloews peer group 201d ) for the five years ended december 31 , 2015 .
the graph assumes that the value of the investment in our common stock , the s&p 500 index and the loews peer group was $ 100 on december 31 , 2010 and that all dividends were reinvested. .
|
( a ) the loews peer group consists of the following companies that are industry competitors of our principal operating subsidiaries : ace limited , w.r .
berkley corporation , the chubb corporation , energy transfer partners l.p. , ensco plc , the hartford financial services group , inc. , kinder morgan energy partners , l.p .
( included through november 26 , 2014 when it was acquired by kinder morgan inc. ) , noble corporation , spectra energy corp , transocean ltd .
and the travelers companies , inc .
dividend information we have paid quarterly cash dividends on loews common stock in each year since 1967 .
regular dividends of $ 0.0625 per share of loews common stock were paid in each calendar quarter of 2015 and 2014. .
|
| | | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
|---:|:-----------------------|-------:|-------:|-------:|-------:|-------:|-------:|
| 0 | loews common stock | 100 | 97.37 | 106.04 | 126.23 | 110.59 | 101.72 |
| 1 | s&p 500 index | 100 | 102.11 | 118.45 | 156.82 | 178.29 | 180.75 |
| 2 | loews peer group ( a ) | 100 | 101.59 | 115.19 | 145.12 | 152.84 | 144.7 |
|
item 5 .
market for the registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities the following graph compares annual total return of our common stock , the standard & poor 2019s 500 composite stock index ( 201cs&p 500 index 201d ) and our peer group ( 201cloews peer group 201d ) for the five years ended december 31 , 2015 .
the graph assumes that the value of the investment in our common stock , the s&p 500 index and the loews peer group was $ 100 on december 31 , 2010 and that all dividends were reinvested. ._| | | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
|---:|:-----------------------|-------:|-------:|-------:|-------:|-------:|-------:|
| 0 | loews common stock | 100 | 97.37 | 106.04 | 126.23 | 110.59 | 101.72 |
| 1 | s&p 500 index | 100 | 102.11 | 118.45 | 156.82 | 178.29 | 180.75 |
| 2 | loews peer group ( a ) | 100 | 101.59 | 115.19 | 145.12 | 152.84 | 144.7 |_( a ) the loews peer group consists of the following companies that are industry competitors of our principal operating subsidiaries : ace limited , w.r .
berkley corporation , the chubb corporation , energy transfer partners l.p. , ensco plc , the hartford financial services group , inc. , kinder morgan energy partners , l.p .
( included through november 26 , 2014 when it was acquired by kinder morgan inc. ) , noble corporation , spectra energy corp , transocean ltd .
and the travelers companies , inc .
dividend information we have paid quarterly cash dividends on loews common stock in each year since 1967 .
regular dividends of $ 0.0625 per share of loews common stock were paid in each calendar quarter of 2015 and 2014. .
| 2,015
| 59
|
L
|
Loews Corporation
|
Financials
|
Multi-line Insurance
|
New York City, New York
|
1995-05-31
| 60,086
|
1959
|
what is the percentage reduction in the loews common stock from 2013 to 2014
|
-12.4%
|
divide(subtract(110.59, 126.23), 126.23)
|
item 5 .
market for the registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities the following graph compares annual total return of our common stock , the standard & poor 2019s 500 composite stock index ( 201cs&p 500 index 201d ) and our peer group ( 201cloews peer group 201d ) for the five years ended december 31 , 2015 .
the graph assumes that the value of the investment in our common stock , the s&p 500 index and the loews peer group was $ 100 on december 31 , 2010 and that all dividends were reinvested. .
|
( a ) the loews peer group consists of the following companies that are industry competitors of our principal operating subsidiaries : ace limited , w.r .
berkley corporation , the chubb corporation , energy transfer partners l.p. , ensco plc , the hartford financial services group , inc. , kinder morgan energy partners , l.p .
( included through november 26 , 2014 when it was acquired by kinder morgan inc. ) , noble corporation , spectra energy corp , transocean ltd .
and the travelers companies , inc .
dividend information we have paid quarterly cash dividends on loews common stock in each year since 1967 .
regular dividends of $ 0.0625 per share of loews common stock were paid in each calendar quarter of 2015 and 2014. .
|
| | | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
|---:|:-----------------------|-------:|-------:|-------:|-------:|-------:|-------:|
| 0 | loews common stock | 100 | 97.37 | 106.04 | 126.23 | 110.59 | 101.72 |
| 1 | s&p 500 index | 100 | 102.11 | 118.45 | 156.82 | 178.29 | 180.75 |
| 2 | loews peer group ( a ) | 100 | 101.59 | 115.19 | 145.12 | 152.84 | 144.7 |
|
item 5 .
market for the registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities the following graph compares annual total return of our common stock , the standard & poor 2019s 500 composite stock index ( 201cs&p 500 index 201d ) and our peer group ( 201cloews peer group 201d ) for the five years ended december 31 , 2015 .
the graph assumes that the value of the investment in our common stock , the s&p 500 index and the loews peer group was $ 100 on december 31 , 2010 and that all dividends were reinvested. ._| | | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
|---:|:-----------------------|-------:|-------:|-------:|-------:|-------:|-------:|
| 0 | loews common stock | 100 | 97.37 | 106.04 | 126.23 | 110.59 | 101.72 |
| 1 | s&p 500 index | 100 | 102.11 | 118.45 | 156.82 | 178.29 | 180.75 |
| 2 | loews peer group ( a ) | 100 | 101.59 | 115.19 | 145.12 | 152.84 | 144.7 |_( a ) the loews peer group consists of the following companies that are industry competitors of our principal operating subsidiaries : ace limited , w.r .
berkley corporation , the chubb corporation , energy transfer partners l.p. , ensco plc , the hartford financial services group , inc. , kinder morgan energy partners , l.p .
( included through november 26 , 2014 when it was acquired by kinder morgan inc. ) , noble corporation , spectra energy corp , transocean ltd .
and the travelers companies , inc .
dividend information we have paid quarterly cash dividends on loews common stock in each year since 1967 .
regular dividends of $ 0.0625 per share of loews common stock were paid in each calendar quarter of 2015 and 2014. .
| 2,015
| 59
|
L
|
Loews Corporation
|
Financials
|
Multi-line Insurance
|
New York City, New York
|
1995-05-31
| 60,086
|
1959
| null | null |
finqa71
|
based on the investment in solexa on november 12 , 2006 what was the price per share in the transaction in dollars
|
9.7
|
divide(50, 5154639)
|
goodwill goodwill represents the excess of the solexa purchase price over the sum of the amounts assigned to assets acquired less liabilities assumed .
the company believes that the acquisition of solexa will produce the following significant benefits : 2022 increased market presence and opportunities .
the combination of the company and solexa should increase the combined company 2019s market presence and opportunities for growth in revenue , earnings and stockholder return .
the company believes that the solexa technology is highly complementary to the company 2019s own portfolio of products and services and will enhance the company 2019s capabilities to service its existing customers , as well as accelerate the develop- ment of additional technologies , products and services .
the company believes that integrating solexa 2019s capabilities with the company 2019s technologies will better position the company to address the emerging biomarker research and development and in-vitro and molecular diag- nostic markets .
the company began to recognize revenue from products shipped as a result of this acquisition during the first quarter of 2007 .
2022 operating efficiencies .
the combination of the company and solexa provides the opportunity for potential economies of scale and cost savings .
the company believes that these primary factors support the amount of goodwill recognized as a result of the purchase price paid for solexa , in relation to other acquired tangible and intangible assets , including in-process research and development .
the following unaudited pro forma information shows the results of the company 2019s operations for the specified reporting periods as though the acquisition had occurred as of the beginning of that period ( in thousands , except per share data ) : year ended december 30 , year ended december 31 .
|
the pro forma results have been prepared for comparative purposes only and are not necessarily indicative of the actual results of operations had the acquisition taken place as of the beginning of the periods presented , or the results that may occur in the future .
the pro forma results exclude the $ 303.4 million non-cash acquired ipr&d charge recorded upon the closing of the acquisition during the first quarter of 2007 .
investment in solexa on november 12 , 2006 , the company entered into a definitive securities purchase agreement with solexa in which the company invested approximately $ 50 million in solexa in exchange for 5154639 newly issued shares of solexa common stock in conjunction with the merger of the two companies .
this investment was valued at $ 67.8 million as of december 31 , 2006 , which represented a market value of $ 13.15 per share of solexa common stock .
this investment was eliminated as part of the company 2019s purchase accounting upon the closing of the merger on january 26 , 2007 .
illumina , inc .
notes to consolidated financial statements 2014 ( continued ) .
|
| | | year ended december 30 2007 | year ended december 31 2006 |
|---:|:--------------------------------------|:------------------------------|:------------------------------|
| 0 | revenue | $ 366854 | $ 187103 |
| 1 | net income ( loss ) | $ 17388 | $ -38957 ( 38957 ) |
| 2 | net income ( loss ) per share basic | $ 0.32 | $ -0.68 ( 0.68 ) |
| 3 | net income ( loss ) per share diluted | $ 0.29 | $ -0.68 ( 0.68 ) |
|
goodwill goodwill represents the excess of the solexa purchase price over the sum of the amounts assigned to assets acquired less liabilities assumed .
the company believes that the acquisition of solexa will produce the following significant benefits : 2022 increased market presence and opportunities .
the combination of the company and solexa should increase the combined company 2019s market presence and opportunities for growth in revenue , earnings and stockholder return .
the company believes that the solexa technology is highly complementary to the company 2019s own portfolio of products and services and will enhance the company 2019s capabilities to service its existing customers , as well as accelerate the develop- ment of additional technologies , products and services .
the company believes that integrating solexa 2019s capabilities with the company 2019s technologies will better position the company to address the emerging biomarker research and development and in-vitro and molecular diag- nostic markets .
the company began to recognize revenue from products shipped as a result of this acquisition during the first quarter of 2007 .
2022 operating efficiencies .
the combination of the company and solexa provides the opportunity for potential economies of scale and cost savings .
the company believes that these primary factors support the amount of goodwill recognized as a result of the purchase price paid for solexa , in relation to other acquired tangible and intangible assets , including in-process research and development .
the following unaudited pro forma information shows the results of the company 2019s operations for the specified reporting periods as though the acquisition had occurred as of the beginning of that period ( in thousands , except per share data ) : year ended december 30 , year ended december 31 ._| | | year ended december 30 2007 | year ended december 31 2006 |
|---:|:--------------------------------------|:------------------------------|:------------------------------|
| 0 | revenue | $ 366854 | $ 187103 |
| 1 | net income ( loss ) | $ 17388 | $ -38957 ( 38957 ) |
| 2 | net income ( loss ) per share basic | $ 0.32 | $ -0.68 ( 0.68 ) |
| 3 | net income ( loss ) per share diluted | $ 0.29 | $ -0.68 ( 0.68 ) |_the pro forma results have been prepared for comparative purposes only and are not necessarily indicative of the actual results of operations had the acquisition taken place as of the beginning of the periods presented , or the results that may occur in the future .
the pro forma results exclude the $ 303.4 million non-cash acquired ipr&d charge recorded upon the closing of the acquisition during the first quarter of 2007 .
investment in solexa on november 12 , 2006 , the company entered into a definitive securities purchase agreement with solexa in which the company invested approximately $ 50 million in solexa in exchange for 5154639 newly issued shares of solexa common stock in conjunction with the merger of the two companies .
this investment was valued at $ 67.8 million as of december 31 , 2006 , which represented a market value of $ 13.15 per share of solexa common stock .
this investment was eliminated as part of the company 2019s purchase accounting upon the closing of the merger on january 26 , 2007 .
illumina , inc .
notes to consolidated financial statements 2014 ( continued ) .
| 2,007
| 78
|
ILMN
|
Illumina, Inc.
|
Healthcare
|
Life Sciences Tools & Services
|
San Diego, CA
|
2015-01-01
| 1,110,803
|
1998
|
based on the investment in solexa on november 12 , 2006 what was the price per share in the transaction in dollars
|
9.7
|
divide(50, 5154639)
|
goodwill goodwill represents the excess of the solexa purchase price over the sum of the amounts assigned to assets acquired less liabilities assumed .
the company believes that the acquisition of solexa will produce the following significant benefits : 2022 increased market presence and opportunities .
the combination of the company and solexa should increase the combined company 2019s market presence and opportunities for growth in revenue , earnings and stockholder return .
the company believes that the solexa technology is highly complementary to the company 2019s own portfolio of products and services and will enhance the company 2019s capabilities to service its existing customers , as well as accelerate the develop- ment of additional technologies , products and services .
the company believes that integrating solexa 2019s capabilities with the company 2019s technologies will better position the company to address the emerging biomarker research and development and in-vitro and molecular diag- nostic markets .
the company began to recognize revenue from products shipped as a result of this acquisition during the first quarter of 2007 .
2022 operating efficiencies .
the combination of the company and solexa provides the opportunity for potential economies of scale and cost savings .
the company believes that these primary factors support the amount of goodwill recognized as a result of the purchase price paid for solexa , in relation to other acquired tangible and intangible assets , including in-process research and development .
the following unaudited pro forma information shows the results of the company 2019s operations for the specified reporting periods as though the acquisition had occurred as of the beginning of that period ( in thousands , except per share data ) : year ended december 30 , year ended december 31 .
|
the pro forma results have been prepared for comparative purposes only and are not necessarily indicative of the actual results of operations had the acquisition taken place as of the beginning of the periods presented , or the results that may occur in the future .
the pro forma results exclude the $ 303.4 million non-cash acquired ipr&d charge recorded upon the closing of the acquisition during the first quarter of 2007 .
investment in solexa on november 12 , 2006 , the company entered into a definitive securities purchase agreement with solexa in which the company invested approximately $ 50 million in solexa in exchange for 5154639 newly issued shares of solexa common stock in conjunction with the merger of the two companies .
this investment was valued at $ 67.8 million as of december 31 , 2006 , which represented a market value of $ 13.15 per share of solexa common stock .
this investment was eliminated as part of the company 2019s purchase accounting upon the closing of the merger on january 26 , 2007 .
illumina , inc .
notes to consolidated financial statements 2014 ( continued ) .
|
| | | year ended december 30 2007 | year ended december 31 2006 |
|---:|:--------------------------------------|:------------------------------|:------------------------------|
| 0 | revenue | $ 366854 | $ 187103 |
| 1 | net income ( loss ) | $ 17388 | $ -38957 ( 38957 ) |
| 2 | net income ( loss ) per share basic | $ 0.32 | $ -0.68 ( 0.68 ) |
| 3 | net income ( loss ) per share diluted | $ 0.29 | $ -0.68 ( 0.68 ) |
|
goodwill goodwill represents the excess of the solexa purchase price over the sum of the amounts assigned to assets acquired less liabilities assumed .
the company believes that the acquisition of solexa will produce the following significant benefits : 2022 increased market presence and opportunities .
the combination of the company and solexa should increase the combined company 2019s market presence and opportunities for growth in revenue , earnings and stockholder return .
the company believes that the solexa technology is highly complementary to the company 2019s own portfolio of products and services and will enhance the company 2019s capabilities to service its existing customers , as well as accelerate the develop- ment of additional technologies , products and services .
the company believes that integrating solexa 2019s capabilities with the company 2019s technologies will better position the company to address the emerging biomarker research and development and in-vitro and molecular diag- nostic markets .
the company began to recognize revenue from products shipped as a result of this acquisition during the first quarter of 2007 .
2022 operating efficiencies .
the combination of the company and solexa provides the opportunity for potential economies of scale and cost savings .
the company believes that these primary factors support the amount of goodwill recognized as a result of the purchase price paid for solexa , in relation to other acquired tangible and intangible assets , including in-process research and development .
the following unaudited pro forma information shows the results of the company 2019s operations for the specified reporting periods as though the acquisition had occurred as of the beginning of that period ( in thousands , except per share data ) : year ended december 30 , year ended december 31 ._| | | year ended december 30 2007 | year ended december 31 2006 |
|---:|:--------------------------------------|:------------------------------|:------------------------------|
| 0 | revenue | $ 366854 | $ 187103 |
| 1 | net income ( loss ) | $ 17388 | $ -38957 ( 38957 ) |
| 2 | net income ( loss ) per share basic | $ 0.32 | $ -0.68 ( 0.68 ) |
| 3 | net income ( loss ) per share diluted | $ 0.29 | $ -0.68 ( 0.68 ) |_the pro forma results have been prepared for comparative purposes only and are not necessarily indicative of the actual results of operations had the acquisition taken place as of the beginning of the periods presented , or the results that may occur in the future .
the pro forma results exclude the $ 303.4 million non-cash acquired ipr&d charge recorded upon the closing of the acquisition during the first quarter of 2007 .
investment in solexa on november 12 , 2006 , the company entered into a definitive securities purchase agreement with solexa in which the company invested approximately $ 50 million in solexa in exchange for 5154639 newly issued shares of solexa common stock in conjunction with the merger of the two companies .
this investment was valued at $ 67.8 million as of december 31 , 2006 , which represented a market value of $ 13.15 per share of solexa common stock .
this investment was eliminated as part of the company 2019s purchase accounting upon the closing of the merger on january 26 , 2007 .
illumina , inc .
notes to consolidated financial statements 2014 ( continued ) .
| 2,007
| 78
|
ILMN
|
Illumina, Inc.
|
Healthcare
|
Life Sciences Tools & Services
|
San Diego, CA
|
2015-01-01
| 1,110,803
|
1998
| null | null |
finqa72
|
what portion of the total investment is allocated to mutual funds in 2011?
|
65.1%
|
divide(17187, 26410)
|
contingent consideration of up to $ 13.8 million .
the contingent consideration arrangement requires additional cash payments to the former equity holders of lyric upon the achievement of certain technological and product development milestones payable during the period from june 2011 through june 2016 .
the company estimated the fair value of the contingent consideration arrangement utilizing the income approach .
changes in the fair value of the contingent consideration subsequent to the acquisition date primarily driven by assumptions pertaining to the achievement of the defined milestones will be recognized in operating income in the period of the estimated fair value change .
as of october 29 , 2011 , no contingent payments have been made and the fair value of the contingent consideration was approximately $ 14.0 million .
the company allocated the purchase price to the tangible and intangible assets acquired and liabilities assumed based on their estimated fair values at the date of acquisition , resulting in the recognition of $ 12.2 million of ipr&d , $ 18.9 million of goodwill and $ 3.3 million of net deferred tax liabilities .
the goodwill recognized is attributable to future technologies that have yet to be determined as well as the assembled workforce of lyric .
future technologies do not meet the criteria for recognition separately from goodwill because they are a part of future development and growth of the business .
none of the goodwill is expected to be deductible for tax purposes .
in addition , the company will be obligated to pay royalties to the former equity holders of lyric on revenue recognized from the sale of lyric products and licenses through the earlier of 20 years or the accrual of a maximum of $ 25 million .
royalty payments to lyric employees require post-acquisition services to be rendered and , as such , the company will record these amounts as compensation expense in the related periods .
as of october 29 , 2011 , no royalty payments have been made .
the company recognized $ 0.2 million of acquisition-related costs that were expensed in the third quarter of fiscal 2011 .
these costs are included in operating expenses in the consolidated statement of income .
the company has not provided pro forma results of operations for integrant , audioasics and lyric herein as they were not material to the company on either an individual or an aggregate basis .
the company included the results of operations of each acquisition in its consolidated statement of income from the date of such acquisition .
7 .
deferred compensation plan investments investments in the analog devices , inc .
deferred compensation plan ( the deferred compensation plan ) are classified as trading .
the components of the investments as of october 29 , 2011 and october 30 , 2010 were as follows: .
|
the fair values of these investments are based on published market quotes on october 29 , 2011 and october 30 , 2010 , respectively .
adjustments to the fair value of , and income pertaining to , deferred compensation plan investments are recorded in operating expenses .
gross realized and unrealized gains and losses from trading securities were not material in fiscal 2011 , 2010 or 2009 .
the company has recorded a corresponding liability for amounts owed to the deferred compensation plan participants ( see note 10 ) .
these investments are specifically designated as available to the company solely for the purpose of paying benefits under the deferred compensation plan .
however , in the event the company became insolvent , the investments would be available to all unsecured general creditors .
8 .
other investments other investments consist of equity securities and other long-term investments .
investments are stated at fair value , which is based on market quotes or on a cost-basis , dependent on the nature of the investment , as appropriate .
adjustments to the fair value of investments classified as available-for-sale are recorded as an increase or decrease analog devices , inc .
notes to consolidated financial statements 2014 ( continued ) .
|
| | | 2011 | 2010 |
|---:|:---------------------------------------------|:--------|:-------|
| 0 | money market funds | $ 17187 | $ 1840 |
| 1 | mutual funds | 9223 | 6850 |
| 2 | total deferred compensation plan investments | $ 26410 | $ 8690 |
|
contingent consideration of up to $ 13.8 million .
the contingent consideration arrangement requires additional cash payments to the former equity holders of lyric upon the achievement of certain technological and product development milestones payable during the period from june 2011 through june 2016 .
the company estimated the fair value of the contingent consideration arrangement utilizing the income approach .
changes in the fair value of the contingent consideration subsequent to the acquisition date primarily driven by assumptions pertaining to the achievement of the defined milestones will be recognized in operating income in the period of the estimated fair value change .
as of october 29 , 2011 , no contingent payments have been made and the fair value of the contingent consideration was approximately $ 14.0 million .
the company allocated the purchase price to the tangible and intangible assets acquired and liabilities assumed based on their estimated fair values at the date of acquisition , resulting in the recognition of $ 12.2 million of ipr&d , $ 18.9 million of goodwill and $ 3.3 million of net deferred tax liabilities .
the goodwill recognized is attributable to future technologies that have yet to be determined as well as the assembled workforce of lyric .
future technologies do not meet the criteria for recognition separately from goodwill because they are a part of future development and growth of the business .
none of the goodwill is expected to be deductible for tax purposes .
in addition , the company will be obligated to pay royalties to the former equity holders of lyric on revenue recognized from the sale of lyric products and licenses through the earlier of 20 years or the accrual of a maximum of $ 25 million .
royalty payments to lyric employees require post-acquisition services to be rendered and , as such , the company will record these amounts as compensation expense in the related periods .
as of october 29 , 2011 , no royalty payments have been made .
the company recognized $ 0.2 million of acquisition-related costs that were expensed in the third quarter of fiscal 2011 .
these costs are included in operating expenses in the consolidated statement of income .
the company has not provided pro forma results of operations for integrant , audioasics and lyric herein as they were not material to the company on either an individual or an aggregate basis .
the company included the results of operations of each acquisition in its consolidated statement of income from the date of such acquisition .
7 .
deferred compensation plan investments investments in the analog devices , inc .
deferred compensation plan ( the deferred compensation plan ) are classified as trading .
the components of the investments as of october 29 , 2011 and october 30 , 2010 were as follows: ._| | | 2011 | 2010 |
|---:|:---------------------------------------------|:--------|:-------|
| 0 | money market funds | $ 17187 | $ 1840 |
| 1 | mutual funds | 9223 | 6850 |
| 2 | total deferred compensation plan investments | $ 26410 | $ 8690 |_the fair values of these investments are based on published market quotes on october 29 , 2011 and october 30 , 2010 , respectively .
adjustments to the fair value of , and income pertaining to , deferred compensation plan investments are recorded in operating expenses .
gross realized and unrealized gains and losses from trading securities were not material in fiscal 2011 , 2010 or 2009 .
the company has recorded a corresponding liability for amounts owed to the deferred compensation plan participants ( see note 10 ) .
these investments are specifically designated as available to the company solely for the purpose of paying benefits under the deferred compensation plan .
however , in the event the company became insolvent , the investments would be available to all unsecured general creditors .
8 .
other investments other investments consist of equity securities and other long-term investments .
investments are stated at fair value , which is based on market quotes or on a cost-basis , dependent on the nature of the investment , as appropriate .
adjustments to the fair value of investments classified as available-for-sale are recorded as an increase or decrease analog devices , inc .
notes to consolidated financial statements 2014 ( continued ) .
| 2,011
| 81
|
ADI
|
Analog Devices
|
Information Technology
|
Semiconductors
|
Wilmington, Massachusetts
|
1999-10-12
| 6,281
|
1965
|
what portion of the total investment is allocated to mutual funds in 2011?
|
65.1%
|
divide(17187, 26410)
|
contingent consideration of up to $ 13.8 million .
the contingent consideration arrangement requires additional cash payments to the former equity holders of lyric upon the achievement of certain technological and product development milestones payable during the period from june 2011 through june 2016 .
the company estimated the fair value of the contingent consideration arrangement utilizing the income approach .
changes in the fair value of the contingent consideration subsequent to the acquisition date primarily driven by assumptions pertaining to the achievement of the defined milestones will be recognized in operating income in the period of the estimated fair value change .
as of october 29 , 2011 , no contingent payments have been made and the fair value of the contingent consideration was approximately $ 14.0 million .
the company allocated the purchase price to the tangible and intangible assets acquired and liabilities assumed based on their estimated fair values at the date of acquisition , resulting in the recognition of $ 12.2 million of ipr&d , $ 18.9 million of goodwill and $ 3.3 million of net deferred tax liabilities .
the goodwill recognized is attributable to future technologies that have yet to be determined as well as the assembled workforce of lyric .
future technologies do not meet the criteria for recognition separately from goodwill because they are a part of future development and growth of the business .
none of the goodwill is expected to be deductible for tax purposes .
in addition , the company will be obligated to pay royalties to the former equity holders of lyric on revenue recognized from the sale of lyric products and licenses through the earlier of 20 years or the accrual of a maximum of $ 25 million .
royalty payments to lyric employees require post-acquisition services to be rendered and , as such , the company will record these amounts as compensation expense in the related periods .
as of october 29 , 2011 , no royalty payments have been made .
the company recognized $ 0.2 million of acquisition-related costs that were expensed in the third quarter of fiscal 2011 .
these costs are included in operating expenses in the consolidated statement of income .
the company has not provided pro forma results of operations for integrant , audioasics and lyric herein as they were not material to the company on either an individual or an aggregate basis .
the company included the results of operations of each acquisition in its consolidated statement of income from the date of such acquisition .
7 .
deferred compensation plan investments investments in the analog devices , inc .
deferred compensation plan ( the deferred compensation plan ) are classified as trading .
the components of the investments as of october 29 , 2011 and october 30 , 2010 were as follows: .
|
the fair values of these investments are based on published market quotes on october 29 , 2011 and october 30 , 2010 , respectively .
adjustments to the fair value of , and income pertaining to , deferred compensation plan investments are recorded in operating expenses .
gross realized and unrealized gains and losses from trading securities were not material in fiscal 2011 , 2010 or 2009 .
the company has recorded a corresponding liability for amounts owed to the deferred compensation plan participants ( see note 10 ) .
these investments are specifically designated as available to the company solely for the purpose of paying benefits under the deferred compensation plan .
however , in the event the company became insolvent , the investments would be available to all unsecured general creditors .
8 .
other investments other investments consist of equity securities and other long-term investments .
investments are stated at fair value , which is based on market quotes or on a cost-basis , dependent on the nature of the investment , as appropriate .
adjustments to the fair value of investments classified as available-for-sale are recorded as an increase or decrease analog devices , inc .
notes to consolidated financial statements 2014 ( continued ) .
|
| | | 2011 | 2010 |
|---:|:---------------------------------------------|:--------|:-------|
| 0 | money market funds | $ 17187 | $ 1840 |
| 1 | mutual funds | 9223 | 6850 |
| 2 | total deferred compensation plan investments | $ 26410 | $ 8690 |
|
contingent consideration of up to $ 13.8 million .
the contingent consideration arrangement requires additional cash payments to the former equity holders of lyric upon the achievement of certain technological and product development milestones payable during the period from june 2011 through june 2016 .
the company estimated the fair value of the contingent consideration arrangement utilizing the income approach .
changes in the fair value of the contingent consideration subsequent to the acquisition date primarily driven by assumptions pertaining to the achievement of the defined milestones will be recognized in operating income in the period of the estimated fair value change .
as of october 29 , 2011 , no contingent payments have been made and the fair value of the contingent consideration was approximately $ 14.0 million .
the company allocated the purchase price to the tangible and intangible assets acquired and liabilities assumed based on their estimated fair values at the date of acquisition , resulting in the recognition of $ 12.2 million of ipr&d , $ 18.9 million of goodwill and $ 3.3 million of net deferred tax liabilities .
the goodwill recognized is attributable to future technologies that have yet to be determined as well as the assembled workforce of lyric .
future technologies do not meet the criteria for recognition separately from goodwill because they are a part of future development and growth of the business .
none of the goodwill is expected to be deductible for tax purposes .
in addition , the company will be obligated to pay royalties to the former equity holders of lyric on revenue recognized from the sale of lyric products and licenses through the earlier of 20 years or the accrual of a maximum of $ 25 million .
royalty payments to lyric employees require post-acquisition services to be rendered and , as such , the company will record these amounts as compensation expense in the related periods .
as of october 29 , 2011 , no royalty payments have been made .
the company recognized $ 0.2 million of acquisition-related costs that were expensed in the third quarter of fiscal 2011 .
these costs are included in operating expenses in the consolidated statement of income .
the company has not provided pro forma results of operations for integrant , audioasics and lyric herein as they were not material to the company on either an individual or an aggregate basis .
the company included the results of operations of each acquisition in its consolidated statement of income from the date of such acquisition .
7 .
deferred compensation plan investments investments in the analog devices , inc .
deferred compensation plan ( the deferred compensation plan ) are classified as trading .
the components of the investments as of october 29 , 2011 and october 30 , 2010 were as follows: ._| | | 2011 | 2010 |
|---:|:---------------------------------------------|:--------|:-------|
| 0 | money market funds | $ 17187 | $ 1840 |
| 1 | mutual funds | 9223 | 6850 |
| 2 | total deferred compensation plan investments | $ 26410 | $ 8690 |_the fair values of these investments are based on published market quotes on october 29 , 2011 and october 30 , 2010 , respectively .
adjustments to the fair value of , and income pertaining to , deferred compensation plan investments are recorded in operating expenses .
gross realized and unrealized gains and losses from trading securities were not material in fiscal 2011 , 2010 or 2009 .
the company has recorded a corresponding liability for amounts owed to the deferred compensation plan participants ( see note 10 ) .
these investments are specifically designated as available to the company solely for the purpose of paying benefits under the deferred compensation plan .
however , in the event the company became insolvent , the investments would be available to all unsecured general creditors .
8 .
other investments other investments consist of equity securities and other long-term investments .
investments are stated at fair value , which is based on market quotes or on a cost-basis , dependent on the nature of the investment , as appropriate .
adjustments to the fair value of investments classified as available-for-sale are recorded as an increase or decrease analog devices , inc .
notes to consolidated financial statements 2014 ( continued ) .
| 2,011
| 81
|
ADI
|
Analog Devices
|
Information Technology
|
Semiconductors
|
Wilmington, Massachusetts
|
1999-10-12
| 6,281
|
1965
| null | null |
finqa73
|
for the mtn deal , what was the total post closing adjustments , in millions?
|
1.7
|
subtract(173.2, 171.5)
|
american tower corporation and subsidiaries notes to consolidated financial statements ( 3 ) consists of customer-related intangibles of approximately $ 15.5 million and network location intangibles of approximately $ 19.8 million .
the customer-related intangibles and network location intangibles are being amortized on a straight-line basis over periods of up to 20 years .
( 4 ) the company expects that the goodwill recorded will be deductible for tax purposes .
the goodwill was allocated to the company 2019s international rental and management segment .
uganda acquisition 2014on december 8 , 2011 , the company entered into a definitive agreement with mtn group to establish a joint venture in uganda .
the joint venture is controlled by a holding company of which a wholly owned subsidiary of the company ( the 201catc uganda subsidiary 201d ) holds a 51% ( 51 % ) interest and a wholly owned subsidiary of mtn group ( the 201cmtn uganda subsidiary 201d ) holds a 49% ( 49 % ) interest .
the joint venture is managed and controlled by the company and owns a tower operations company in uganda .
pursuant to the agreement , the joint venture agreed to purchase a total of up to 1000 existing communications sites from mtn group 2019s operating subsidiary in uganda , subject to customary closing conditions .
on june 29 , 2012 , the joint venture acquired 962 communications sites for an aggregate purchase price of $ 171.5 million , subject to post-closing adjustments .
the aggregate purchase price was subsequently increased to $ 173.2 million , subject to future post-closing adjustments .
under the terms of the purchase agreement , legal title to certain of these communications sites will be transferred upon fulfillment of certain conditions by mtn group .
prior to the fulfillment of these conditions , the company will operate and maintain control of these communications sites , and accordingly , reflect these sites in the allocation of purchase price and the consolidated operating results .
the following table summarizes the preliminary allocation of the aggregate purchase price consideration paid and the amounts of assets acquired and liabilities assumed based upon their estimated fair value at the date of acquisition ( in thousands ) : preliminary purchase price allocation .
|
( 1 ) consists of customer-related intangibles of approximately $ 36.5 million and network location intangibles of approximately $ 27.0 million .
the customer-related intangibles and network location intangibles are being amortized on a straight-line basis over periods of up to 20 years .
( 2 ) the company expects that the goodwill recorded will be not be deductible for tax purposes .
the goodwill was allocated to the company 2019s international rental and management segment .
germany acquisition 2014on november 14 , 2012 , the company entered into a definitive agreement to purchase communications sites from e-plus mobilfunk gmbh & co .
kg .
on december 4 , 2012 , the company completed the purchase of 2031 communications sites , for an aggregate purchase price of $ 525.7 million. .
|
| | | preliminary purchase price allocation |
|---:|:----------------------------------|:----------------------------------------|
| 0 | non-current assets | $ 2258 |
| 1 | property and equipment | 102366 |
| 2 | intangible assets ( 1 ) | 63500 |
| 3 | other non-current liabilities | -7528 ( 7528 ) |
| 4 | fair value of net assets acquired | $ 160596 |
| 5 | goodwill ( 2 ) | 12564 |
|
american tower corporation and subsidiaries notes to consolidated financial statements ( 3 ) consists of customer-related intangibles of approximately $ 15.5 million and network location intangibles of approximately $ 19.8 million .
the customer-related intangibles and network location intangibles are being amortized on a straight-line basis over periods of up to 20 years .
( 4 ) the company expects that the goodwill recorded will be deductible for tax purposes .
the goodwill was allocated to the company 2019s international rental and management segment .
uganda acquisition 2014on december 8 , 2011 , the company entered into a definitive agreement with mtn group to establish a joint venture in uganda .
the joint venture is controlled by a holding company of which a wholly owned subsidiary of the company ( the 201catc uganda subsidiary 201d ) holds a 51% ( 51 % ) interest and a wholly owned subsidiary of mtn group ( the 201cmtn uganda subsidiary 201d ) holds a 49% ( 49 % ) interest .
the joint venture is managed and controlled by the company and owns a tower operations company in uganda .
pursuant to the agreement , the joint venture agreed to purchase a total of up to 1000 existing communications sites from mtn group 2019s operating subsidiary in uganda , subject to customary closing conditions .
on june 29 , 2012 , the joint venture acquired 962 communications sites for an aggregate purchase price of $ 171.5 million , subject to post-closing adjustments .
the aggregate purchase price was subsequently increased to $ 173.2 million , subject to future post-closing adjustments .
under the terms of the purchase agreement , legal title to certain of these communications sites will be transferred upon fulfillment of certain conditions by mtn group .
prior to the fulfillment of these conditions , the company will operate and maintain control of these communications sites , and accordingly , reflect these sites in the allocation of purchase price and the consolidated operating results .
the following table summarizes the preliminary allocation of the aggregate purchase price consideration paid and the amounts of assets acquired and liabilities assumed based upon their estimated fair value at the date of acquisition ( in thousands ) : preliminary purchase price allocation ._| | | preliminary purchase price allocation |
|---:|:----------------------------------|:----------------------------------------|
| 0 | non-current assets | $ 2258 |
| 1 | property and equipment | 102366 |
| 2 | intangible assets ( 1 ) | 63500 |
| 3 | other non-current liabilities | -7528 ( 7528 ) |
| 4 | fair value of net assets acquired | $ 160596 |
| 5 | goodwill ( 2 ) | 12564 |_( 1 ) consists of customer-related intangibles of approximately $ 36.5 million and network location intangibles of approximately $ 27.0 million .
the customer-related intangibles and network location intangibles are being amortized on a straight-line basis over periods of up to 20 years .
( 2 ) the company expects that the goodwill recorded will be not be deductible for tax purposes .
the goodwill was allocated to the company 2019s international rental and management segment .
germany acquisition 2014on november 14 , 2012 , the company entered into a definitive agreement to purchase communications sites from e-plus mobilfunk gmbh & co .
kg .
on december 4 , 2012 , the company completed the purchase of 2031 communications sites , for an aggregate purchase price of $ 525.7 million. .
| 2,012
| 125
|
AMT
|
American Tower
|
Real Estate
|
Telecom Tower REITs
|
Boston, Massachusetts
|
2007-11-19
| 1,053,507
|
1995
|
for the mtn deal , what was the total post closing adjustments , in millions?
|
1.7
|
subtract(173.2, 171.5)
|
american tower corporation and subsidiaries notes to consolidated financial statements ( 3 ) consists of customer-related intangibles of approximately $ 15.5 million and network location intangibles of approximately $ 19.8 million .
the customer-related intangibles and network location intangibles are being amortized on a straight-line basis over periods of up to 20 years .
( 4 ) the company expects that the goodwill recorded will be deductible for tax purposes .
the goodwill was allocated to the company 2019s international rental and management segment .
uganda acquisition 2014on december 8 , 2011 , the company entered into a definitive agreement with mtn group to establish a joint venture in uganda .
the joint venture is controlled by a holding company of which a wholly owned subsidiary of the company ( the 201catc uganda subsidiary 201d ) holds a 51% ( 51 % ) interest and a wholly owned subsidiary of mtn group ( the 201cmtn uganda subsidiary 201d ) holds a 49% ( 49 % ) interest .
the joint venture is managed and controlled by the company and owns a tower operations company in uganda .
pursuant to the agreement , the joint venture agreed to purchase a total of up to 1000 existing communications sites from mtn group 2019s operating subsidiary in uganda , subject to customary closing conditions .
on june 29 , 2012 , the joint venture acquired 962 communications sites for an aggregate purchase price of $ 171.5 million , subject to post-closing adjustments .
the aggregate purchase price was subsequently increased to $ 173.2 million , subject to future post-closing adjustments .
under the terms of the purchase agreement , legal title to certain of these communications sites will be transferred upon fulfillment of certain conditions by mtn group .
prior to the fulfillment of these conditions , the company will operate and maintain control of these communications sites , and accordingly , reflect these sites in the allocation of purchase price and the consolidated operating results .
the following table summarizes the preliminary allocation of the aggregate purchase price consideration paid and the amounts of assets acquired and liabilities assumed based upon their estimated fair value at the date of acquisition ( in thousands ) : preliminary purchase price allocation .
|
( 1 ) consists of customer-related intangibles of approximately $ 36.5 million and network location intangibles of approximately $ 27.0 million .
the customer-related intangibles and network location intangibles are being amortized on a straight-line basis over periods of up to 20 years .
( 2 ) the company expects that the goodwill recorded will be not be deductible for tax purposes .
the goodwill was allocated to the company 2019s international rental and management segment .
germany acquisition 2014on november 14 , 2012 , the company entered into a definitive agreement to purchase communications sites from e-plus mobilfunk gmbh & co .
kg .
on december 4 , 2012 , the company completed the purchase of 2031 communications sites , for an aggregate purchase price of $ 525.7 million. .
|
| | | preliminary purchase price allocation |
|---:|:----------------------------------|:----------------------------------------|
| 0 | non-current assets | $ 2258 |
| 1 | property and equipment | 102366 |
| 2 | intangible assets ( 1 ) | 63500 |
| 3 | other non-current liabilities | -7528 ( 7528 ) |
| 4 | fair value of net assets acquired | $ 160596 |
| 5 | goodwill ( 2 ) | 12564 |
|
american tower corporation and subsidiaries notes to consolidated financial statements ( 3 ) consists of customer-related intangibles of approximately $ 15.5 million and network location intangibles of approximately $ 19.8 million .
the customer-related intangibles and network location intangibles are being amortized on a straight-line basis over periods of up to 20 years .
( 4 ) the company expects that the goodwill recorded will be deductible for tax purposes .
the goodwill was allocated to the company 2019s international rental and management segment .
uganda acquisition 2014on december 8 , 2011 , the company entered into a definitive agreement with mtn group to establish a joint venture in uganda .
the joint venture is controlled by a holding company of which a wholly owned subsidiary of the company ( the 201catc uganda subsidiary 201d ) holds a 51% ( 51 % ) interest and a wholly owned subsidiary of mtn group ( the 201cmtn uganda subsidiary 201d ) holds a 49% ( 49 % ) interest .
the joint venture is managed and controlled by the company and owns a tower operations company in uganda .
pursuant to the agreement , the joint venture agreed to purchase a total of up to 1000 existing communications sites from mtn group 2019s operating subsidiary in uganda , subject to customary closing conditions .
on june 29 , 2012 , the joint venture acquired 962 communications sites for an aggregate purchase price of $ 171.5 million , subject to post-closing adjustments .
the aggregate purchase price was subsequently increased to $ 173.2 million , subject to future post-closing adjustments .
under the terms of the purchase agreement , legal title to certain of these communications sites will be transferred upon fulfillment of certain conditions by mtn group .
prior to the fulfillment of these conditions , the company will operate and maintain control of these communications sites , and accordingly , reflect these sites in the allocation of purchase price and the consolidated operating results .
the following table summarizes the preliminary allocation of the aggregate purchase price consideration paid and the amounts of assets acquired and liabilities assumed based upon their estimated fair value at the date of acquisition ( in thousands ) : preliminary purchase price allocation ._| | | preliminary purchase price allocation |
|---:|:----------------------------------|:----------------------------------------|
| 0 | non-current assets | $ 2258 |
| 1 | property and equipment | 102366 |
| 2 | intangible assets ( 1 ) | 63500 |
| 3 | other non-current liabilities | -7528 ( 7528 ) |
| 4 | fair value of net assets acquired | $ 160596 |
| 5 | goodwill ( 2 ) | 12564 |_( 1 ) consists of customer-related intangibles of approximately $ 36.5 million and network location intangibles of approximately $ 27.0 million .
the customer-related intangibles and network location intangibles are being amortized on a straight-line basis over periods of up to 20 years .
( 2 ) the company expects that the goodwill recorded will be not be deductible for tax purposes .
the goodwill was allocated to the company 2019s international rental and management segment .
germany acquisition 2014on november 14 , 2012 , the company entered into a definitive agreement to purchase communications sites from e-plus mobilfunk gmbh & co .
kg .
on december 4 , 2012 , the company completed the purchase of 2031 communications sites , for an aggregate purchase price of $ 525.7 million. .
| 2,012
| 125
|
AMT
|
American Tower
|
Real Estate
|
Telecom Tower REITs
|
Boston, Massachusetts
|
2007-11-19
| 1,053,507
|
1995
| null | null |
finqa74
|
what is the growth rate in net revenue in 2003 for entergy louisiana , inc.?
|
5.5%
|
divide(subtract(973.7, 922.9), 922.9)
|
entergy louisiana , inc .
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. .
|
| | | ( in millions ) |
|---:|:-----------------------------|:------------------|
| 0 | 2002 net revenue | $ 922.9 |
| 1 | deferred fuel cost revisions | 59.1 |
| 2 | asset retirement obligation | 8.2 |
| 3 | volume | -16.2 ( 16.2 ) |
| 4 | vidalia settlement | -9.2 ( 9.2 ) |
| 5 | other | 8.9 |
| 6 | 2003 net revenue | $ 973.7 |
|
entergy louisiana , inc .
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. ._| | | ( in millions ) |
|---:|:-----------------------------|:------------------|
| 0 | 2002 net revenue | $ 922.9 |
| 1 | deferred fuel cost revisions | 59.1 |
| 2 | asset retirement obligation | 8.2 |
| 3 | volume | -16.2 ( 16.2 ) |
| 4 | vidalia settlement | -9.2 ( 9.2 ) |
| 5 | other | 8.9 |
| 6 | 2003 net revenue | $ 973.7 |_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. .
| 2,004
| 213
|
ETR
|
Entergy
|
Utilities
|
Electric Utilities
|
New Orleans, Louisiana
|
1957-03-04
| 65,984
|
1913
|
what is the growth rate in net revenue in 2003 for entergy louisiana , inc.?
|
5.5%
|
divide(subtract(973.7, 922.9), 922.9)
|
entergy louisiana , inc .
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. .
|
| | | ( in millions ) |
|---:|:-----------------------------|:------------------|
| 0 | 2002 net revenue | $ 922.9 |
| 1 | deferred fuel cost revisions | 59.1 |
| 2 | asset retirement obligation | 8.2 |
| 3 | volume | -16.2 ( 16.2 ) |
| 4 | vidalia settlement | -9.2 ( 9.2 ) |
| 5 | other | 8.9 |
| 6 | 2003 net revenue | $ 973.7 |
|
entergy louisiana , inc .
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. ._| | | ( in millions ) |
|---:|:-----------------------------|:------------------|
| 0 | 2002 net revenue | $ 922.9 |
| 1 | deferred fuel cost revisions | 59.1 |
| 2 | asset retirement obligation | 8.2 |
| 3 | volume | -16.2 ( 16.2 ) |
| 4 | vidalia settlement | -9.2 ( 9.2 ) |
| 5 | other | 8.9 |
| 6 | 2003 net revenue | $ 973.7 |_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. .
| 2,004
| 213
|
ETR
|
Entergy
|
Utilities
|
Electric Utilities
|
New Orleans, Louisiana
|
1957-03-04
| 65,984
|
1913
| null | null |
finqa75
|
what percentage of industrial packaging sales where represented by european industrial packaging net sales in 2007?
|
21%
|
divide(multiply(1.1, const_1000), 5245)
|
tissue pulp due to strong market demand , partic- ularly from asia .
average sales price realizations improved significantly in 2007 , principally reflecting higher average prices for softwood , hardwood and fluff pulp .
operating earnings in 2007 were $ 104 mil- lion compared with $ 48 million in 2006 and $ 37 mil- lion in 2005 .
the benefits from higher sales price realizations were partially offset by increased input costs for energy , chemicals and freight .
entering the first quarter of 2008 , demand for market pulp remains strong , and average sales price realiza- tions should increase slightly .
however , input costs for energy , chemicals and freight are expected to be higher , and increased spending is anticipated for planned mill maintenance outages .
industrial packaging demand for industrial packaging products is closely correlated with non-durable industrial goods pro- duction , as well as with demand for processed foods , poultry , meat and agricultural products .
in addition to prices and volumes , major factors affecting the profitability of industrial packaging are raw material and energy costs , freight costs , manufacturing effi- ciency and product mix .
industrial packaging net sales for 2007 increased 6% ( 6 % ) to $ 5.2 billion compared with $ 4.9 bil- lion in 2006 , and 13% ( 13 % ) compared with $ 4.6 billion in 2005 .
operating profits in 2007 were 26% ( 26 % ) higher than in 2006 and more than double 2005 earnings .
bene- fits from improved price realizations ( $ 147 million ) , sales volume increases net of increased lack of order downtime ( $ 3 million ) , a more favorable mix ( $ 31 million ) , strong mill and converting operations ( $ 33 million ) and other costs ( $ 47 million ) were partially offset by the effects of higher raw material costs ( $ 76 million ) and higher freight costs ( $ 18 million ) .
in addition , a gain of $ 13 million was recognized in 2006 related to a sale of property in spain and costs of $ 52 million were incurred in 2007 related to the conversion of the paper machine at pensacola to production of lightweight linerboard .
the segment took 165000 tons of downtime in 2007 which included 16000 tons of market-related downtime compared with 135000 tons of downtime in 2006 of which none was market-related .
industrial packaging in millions 2007 2006 2005 .
|
north american industrial packaging net sales for 2007 were $ 3.9 billion , compared with $ 3.7 billion in 2006 and $ 3.6 billion in 2005 .
operating profits in 2007 were $ 407 million , up from $ 327 mil- lion in 2006 and $ 170 million in 2005 .
containerboard shipments were higher in 2007 compared with 2006 , including production from the paper machine at pensacola that was converted to lightweight linerboard during 2007 .
average sales price realizations were significantly higher than in 2006 reflecting price increases announced early in 2006 and in the third quarter of 2007 .
margins improved reflecting stronger export demand .
manu- facturing performance was strong , although costs associated with planned mill maintenance outages were higher due to timing of outages .
raw material costs for wood , energy , chemicals and recycled fiber increased significantly .
operating results for 2007 were also unfavorably impacted by $ 52 million of costs associated with the conversion and startup of the pensacola paper machine .
u.s .
converting sales volumes were slightly lower in 2007 compared with 2006 reflecting softer customer box demand .
earnings improvement in 2007 bene- fited from the realization of box price increases announced in early 2006 and late 2007 .
favorable manufacturing operations and higher sales prices for waste fiber more than offset significantly higher raw material and freight costs .
looking ahead to the first quarter of 2008 , sales volumes are expected to increase slightly , and results should benefit from a full-quarter impact of the price increases announced in the third quarter of 2007 .
however , additional mill maintenance outages are planned for the first quarter , and freight and input costs are expected to rise , particularly for wood and energy .
manufacturing operations should be favorable compared with the fourth quarter .
european industrial packaging net sales for 2007 were $ 1.1 billion , up from $ 1.0 billion in 2006 and $ 880 million in 2005 .
sales volumes were about flat as early stronger demand in the industrial segment weakened in the second half of the year .
operating profits in 2007 were $ 88 million compared with $ 69 million in 2006 and $ 53 million in 2005 .
sales margins improved reflecting increased sales prices for boxes .
conversion costs were favorable as the result of manufacturing improvement programs .
entering the first quarter of 2008 , sales volumes should be strong seasonally across all regions as the winter fruit and vegetable season continues .
profit margins , however , are expected to be somewhat lower. .
|
| | in millions | 2007 | 2006 | 2005 |
|---:|:-----------------|:-------|:-------|:-------|
| 0 | sales | $ 5245 | $ 4925 | $ 4625 |
| 1 | operating profit | $ 501 | $ 399 | $ 219 |
|
tissue pulp due to strong market demand , partic- ularly from asia .
average sales price realizations improved significantly in 2007 , principally reflecting higher average prices for softwood , hardwood and fluff pulp .
operating earnings in 2007 were $ 104 mil- lion compared with $ 48 million in 2006 and $ 37 mil- lion in 2005 .
the benefits from higher sales price realizations were partially offset by increased input costs for energy , chemicals and freight .
entering the first quarter of 2008 , demand for market pulp remains strong , and average sales price realiza- tions should increase slightly .
however , input costs for energy , chemicals and freight are expected to be higher , and increased spending is anticipated for planned mill maintenance outages .
industrial packaging demand for industrial packaging products is closely correlated with non-durable industrial goods pro- duction , as well as with demand for processed foods , poultry , meat and agricultural products .
in addition to prices and volumes , major factors affecting the profitability of industrial packaging are raw material and energy costs , freight costs , manufacturing effi- ciency and product mix .
industrial packaging net sales for 2007 increased 6% ( 6 % ) to $ 5.2 billion compared with $ 4.9 bil- lion in 2006 , and 13% ( 13 % ) compared with $ 4.6 billion in 2005 .
operating profits in 2007 were 26% ( 26 % ) higher than in 2006 and more than double 2005 earnings .
bene- fits from improved price realizations ( $ 147 million ) , sales volume increases net of increased lack of order downtime ( $ 3 million ) , a more favorable mix ( $ 31 million ) , strong mill and converting operations ( $ 33 million ) and other costs ( $ 47 million ) were partially offset by the effects of higher raw material costs ( $ 76 million ) and higher freight costs ( $ 18 million ) .
in addition , a gain of $ 13 million was recognized in 2006 related to a sale of property in spain and costs of $ 52 million were incurred in 2007 related to the conversion of the paper machine at pensacola to production of lightweight linerboard .
the segment took 165000 tons of downtime in 2007 which included 16000 tons of market-related downtime compared with 135000 tons of downtime in 2006 of which none was market-related .
industrial packaging in millions 2007 2006 2005 ._| | in millions | 2007 | 2006 | 2005 |
|---:|:-----------------|:-------|:-------|:-------|
| 0 | sales | $ 5245 | $ 4925 | $ 4625 |
| 1 | operating profit | $ 501 | $ 399 | $ 219 |_north american industrial packaging net sales for 2007 were $ 3.9 billion , compared with $ 3.7 billion in 2006 and $ 3.6 billion in 2005 .
operating profits in 2007 were $ 407 million , up from $ 327 mil- lion in 2006 and $ 170 million in 2005 .
containerboard shipments were higher in 2007 compared with 2006 , including production from the paper machine at pensacola that was converted to lightweight linerboard during 2007 .
average sales price realizations were significantly higher than in 2006 reflecting price increases announced early in 2006 and in the third quarter of 2007 .
margins improved reflecting stronger export demand .
manu- facturing performance was strong , although costs associated with planned mill maintenance outages were higher due to timing of outages .
raw material costs for wood , energy , chemicals and recycled fiber increased significantly .
operating results for 2007 were also unfavorably impacted by $ 52 million of costs associated with the conversion and startup of the pensacola paper machine .
u.s .
converting sales volumes were slightly lower in 2007 compared with 2006 reflecting softer customer box demand .
earnings improvement in 2007 bene- fited from the realization of box price increases announced in early 2006 and late 2007 .
favorable manufacturing operations and higher sales prices for waste fiber more than offset significantly higher raw material and freight costs .
looking ahead to the first quarter of 2008 , sales volumes are expected to increase slightly , and results should benefit from a full-quarter impact of the price increases announced in the third quarter of 2007 .
however , additional mill maintenance outages are planned for the first quarter , and freight and input costs are expected to rise , particularly for wood and energy .
manufacturing operations should be favorable compared with the fourth quarter .
european industrial packaging net sales for 2007 were $ 1.1 billion , up from $ 1.0 billion in 2006 and $ 880 million in 2005 .
sales volumes were about flat as early stronger demand in the industrial segment weakened in the second half of the year .
operating profits in 2007 were $ 88 million compared with $ 69 million in 2006 and $ 53 million in 2005 .
sales margins improved reflecting increased sales prices for boxes .
conversion costs were favorable as the result of manufacturing improvement programs .
entering the first quarter of 2008 , sales volumes should be strong seasonally across all regions as the winter fruit and vegetable season continues .
profit margins , however , are expected to be somewhat lower. .
| 2,007
| 31
|
IP
|
International Paper
|
Materials
|
Paper & Plastic Packaging Products & Materials
|
Memphis, Tennessee
|
1957-03-04
| 51,434
|
1898
|
what percentage of industrial packaging sales where represented by european industrial packaging net sales in 2007?
|
21%
|
divide(multiply(1.1, const_1000), 5245)
|
tissue pulp due to strong market demand , partic- ularly from asia .
average sales price realizations improved significantly in 2007 , principally reflecting higher average prices for softwood , hardwood and fluff pulp .
operating earnings in 2007 were $ 104 mil- lion compared with $ 48 million in 2006 and $ 37 mil- lion in 2005 .
the benefits from higher sales price realizations were partially offset by increased input costs for energy , chemicals and freight .
entering the first quarter of 2008 , demand for market pulp remains strong , and average sales price realiza- tions should increase slightly .
however , input costs for energy , chemicals and freight are expected to be higher , and increased spending is anticipated for planned mill maintenance outages .
industrial packaging demand for industrial packaging products is closely correlated with non-durable industrial goods pro- duction , as well as with demand for processed foods , poultry , meat and agricultural products .
in addition to prices and volumes , major factors affecting the profitability of industrial packaging are raw material and energy costs , freight costs , manufacturing effi- ciency and product mix .
industrial packaging net sales for 2007 increased 6% ( 6 % ) to $ 5.2 billion compared with $ 4.9 bil- lion in 2006 , and 13% ( 13 % ) compared with $ 4.6 billion in 2005 .
operating profits in 2007 were 26% ( 26 % ) higher than in 2006 and more than double 2005 earnings .
bene- fits from improved price realizations ( $ 147 million ) , sales volume increases net of increased lack of order downtime ( $ 3 million ) , a more favorable mix ( $ 31 million ) , strong mill and converting operations ( $ 33 million ) and other costs ( $ 47 million ) were partially offset by the effects of higher raw material costs ( $ 76 million ) and higher freight costs ( $ 18 million ) .
in addition , a gain of $ 13 million was recognized in 2006 related to a sale of property in spain and costs of $ 52 million were incurred in 2007 related to the conversion of the paper machine at pensacola to production of lightweight linerboard .
the segment took 165000 tons of downtime in 2007 which included 16000 tons of market-related downtime compared with 135000 tons of downtime in 2006 of which none was market-related .
industrial packaging in millions 2007 2006 2005 .
|
north american industrial packaging net sales for 2007 were $ 3.9 billion , compared with $ 3.7 billion in 2006 and $ 3.6 billion in 2005 .
operating profits in 2007 were $ 407 million , up from $ 327 mil- lion in 2006 and $ 170 million in 2005 .
containerboard shipments were higher in 2007 compared with 2006 , including production from the paper machine at pensacola that was converted to lightweight linerboard during 2007 .
average sales price realizations were significantly higher than in 2006 reflecting price increases announced early in 2006 and in the third quarter of 2007 .
margins improved reflecting stronger export demand .
manu- facturing performance was strong , although costs associated with planned mill maintenance outages were higher due to timing of outages .
raw material costs for wood , energy , chemicals and recycled fiber increased significantly .
operating results for 2007 were also unfavorably impacted by $ 52 million of costs associated with the conversion and startup of the pensacola paper machine .
u.s .
converting sales volumes were slightly lower in 2007 compared with 2006 reflecting softer customer box demand .
earnings improvement in 2007 bene- fited from the realization of box price increases announced in early 2006 and late 2007 .
favorable manufacturing operations and higher sales prices for waste fiber more than offset significantly higher raw material and freight costs .
looking ahead to the first quarter of 2008 , sales volumes are expected to increase slightly , and results should benefit from a full-quarter impact of the price increases announced in the third quarter of 2007 .
however , additional mill maintenance outages are planned for the first quarter , and freight and input costs are expected to rise , particularly for wood and energy .
manufacturing operations should be favorable compared with the fourth quarter .
european industrial packaging net sales for 2007 were $ 1.1 billion , up from $ 1.0 billion in 2006 and $ 880 million in 2005 .
sales volumes were about flat as early stronger demand in the industrial segment weakened in the second half of the year .
operating profits in 2007 were $ 88 million compared with $ 69 million in 2006 and $ 53 million in 2005 .
sales margins improved reflecting increased sales prices for boxes .
conversion costs were favorable as the result of manufacturing improvement programs .
entering the first quarter of 2008 , sales volumes should be strong seasonally across all regions as the winter fruit and vegetable season continues .
profit margins , however , are expected to be somewhat lower. .
|
| | in millions | 2007 | 2006 | 2005 |
|---:|:-----------------|:-------|:-------|:-------|
| 0 | sales | $ 5245 | $ 4925 | $ 4625 |
| 1 | operating profit | $ 501 | $ 399 | $ 219 |
|
tissue pulp due to strong market demand , partic- ularly from asia .
average sales price realizations improved significantly in 2007 , principally reflecting higher average prices for softwood , hardwood and fluff pulp .
operating earnings in 2007 were $ 104 mil- lion compared with $ 48 million in 2006 and $ 37 mil- lion in 2005 .
the benefits from higher sales price realizations were partially offset by increased input costs for energy , chemicals and freight .
entering the first quarter of 2008 , demand for market pulp remains strong , and average sales price realiza- tions should increase slightly .
however , input costs for energy , chemicals and freight are expected to be higher , and increased spending is anticipated for planned mill maintenance outages .
industrial packaging demand for industrial packaging products is closely correlated with non-durable industrial goods pro- duction , as well as with demand for processed foods , poultry , meat and agricultural products .
in addition to prices and volumes , major factors affecting the profitability of industrial packaging are raw material and energy costs , freight costs , manufacturing effi- ciency and product mix .
industrial packaging net sales for 2007 increased 6% ( 6 % ) to $ 5.2 billion compared with $ 4.9 bil- lion in 2006 , and 13% ( 13 % ) compared with $ 4.6 billion in 2005 .
operating profits in 2007 were 26% ( 26 % ) higher than in 2006 and more than double 2005 earnings .
bene- fits from improved price realizations ( $ 147 million ) , sales volume increases net of increased lack of order downtime ( $ 3 million ) , a more favorable mix ( $ 31 million ) , strong mill and converting operations ( $ 33 million ) and other costs ( $ 47 million ) were partially offset by the effects of higher raw material costs ( $ 76 million ) and higher freight costs ( $ 18 million ) .
in addition , a gain of $ 13 million was recognized in 2006 related to a sale of property in spain and costs of $ 52 million were incurred in 2007 related to the conversion of the paper machine at pensacola to production of lightweight linerboard .
the segment took 165000 tons of downtime in 2007 which included 16000 tons of market-related downtime compared with 135000 tons of downtime in 2006 of which none was market-related .
industrial packaging in millions 2007 2006 2005 ._| | in millions | 2007 | 2006 | 2005 |
|---:|:-----------------|:-------|:-------|:-------|
| 0 | sales | $ 5245 | $ 4925 | $ 4625 |
| 1 | operating profit | $ 501 | $ 399 | $ 219 |_north american industrial packaging net sales for 2007 were $ 3.9 billion , compared with $ 3.7 billion in 2006 and $ 3.6 billion in 2005 .
operating profits in 2007 were $ 407 million , up from $ 327 mil- lion in 2006 and $ 170 million in 2005 .
containerboard shipments were higher in 2007 compared with 2006 , including production from the paper machine at pensacola that was converted to lightweight linerboard during 2007 .
average sales price realizations were significantly higher than in 2006 reflecting price increases announced early in 2006 and in the third quarter of 2007 .
margins improved reflecting stronger export demand .
manu- facturing performance was strong , although costs associated with planned mill maintenance outages were higher due to timing of outages .
raw material costs for wood , energy , chemicals and recycled fiber increased significantly .
operating results for 2007 were also unfavorably impacted by $ 52 million of costs associated with the conversion and startup of the pensacola paper machine .
u.s .
converting sales volumes were slightly lower in 2007 compared with 2006 reflecting softer customer box demand .
earnings improvement in 2007 bene- fited from the realization of box price increases announced in early 2006 and late 2007 .
favorable manufacturing operations and higher sales prices for waste fiber more than offset significantly higher raw material and freight costs .
looking ahead to the first quarter of 2008 , sales volumes are expected to increase slightly , and results should benefit from a full-quarter impact of the price increases announced in the third quarter of 2007 .
however , additional mill maintenance outages are planned for the first quarter , and freight and input costs are expected to rise , particularly for wood and energy .
manufacturing operations should be favorable compared with the fourth quarter .
european industrial packaging net sales for 2007 were $ 1.1 billion , up from $ 1.0 billion in 2006 and $ 880 million in 2005 .
sales volumes were about flat as early stronger demand in the industrial segment weakened in the second half of the year .
operating profits in 2007 were $ 88 million compared with $ 69 million in 2006 and $ 53 million in 2005 .
sales margins improved reflecting increased sales prices for boxes .
conversion costs were favorable as the result of manufacturing improvement programs .
entering the first quarter of 2008 , sales volumes should be strong seasonally across all regions as the winter fruit and vegetable season continues .
profit margins , however , are expected to be somewhat lower. .
| 2,007
| 31
|
IP
|
International Paper
|
Materials
|
Paper & Plastic Packaging Products & Materials
|
Memphis, Tennessee
|
1957-03-04
| 51,434
|
1898
| null | null |
finqa76
|
what portion of the adjusted consolidated cash flow for the twelve months ended december 31 , 2005 is related to tower cash flow?
|
105.0%
|
divide(558360, 531822)
|
with apb no .
25 .
instead , companies will be required to account for such transactions using a fair-value method and recognize the related expense associated with share-based payments in the statement of operations .
sfas 123r is effective for us as of january 1 , 2006 .
we have historically accounted for share-based payments to employees under apb no .
25 2019s intrinsic value method .
as such , we generally have not recognized compensation expense for options granted to employees .
we will adopt the provisions of sfas 123r under the modified prospective method , in which compensation cost for all share-based payments granted or modified after the effective date is recognized based upon the requirements of sfas 123r , and compensation cost for all awards granted to employees prior to the effective date that are unvested as of the effective date of sfas 123r is recognized based on sfas 123 .
tax benefits will be recognized related to the cost for share-based payments to the extent the equity instrument would ordinarily result in a future tax deduction under existing law .
tax expense will be recognized to write off excess deferred tax assets when the tax deduction upon settlement of a vested option is less than the expense recorded in the statement of operations ( to the extent not offset by prior tax credits for settlements where the tax deduction was greater than the fair value cost ) .
we estimate that we will recognize equity-based compensation expense of approximately $ 35 million to $ 38 million for the year ending december 31 , 2006 .
this amount is subject to revisions as we finalize certain assumptions related to 2006 , including the size and nature of awards and forfeiture rates .
sfas 123r also requires the benefits of tax deductions in excess of recognized compensation cost be reported as a financing cash flow rather than as operating cash flow as was previously required .
we cannot estimate what the future tax benefits will be as the amounts depend on , among other factors , future employee stock option exercises .
due to the our tax loss position , there was no operating cash inflow realized for december 31 , 2005 and 2004 for such excess tax deductions .
in march 2005 , the sec issued staff accounting bulletin ( sab ) no .
107 regarding the staff 2019s interpretation of sfas 123r .
this interpretation provides the staff 2019s views regarding interactions between sfas 123r and certain sec rules and regulations and provides interpretations of the valuation of share-based payments for public companies .
the interpretive guidance is intended to assist companies in applying the provisions of sfas 123r and investors and users of the financial statements in analyzing the information provided .
we will follow the guidance prescribed in sab no .
107 in connection with our adoption of sfas 123r .
information presented pursuant to the indentures of our 7.50% ( 7.50 % ) notes , 7.125% ( 7.125 % ) notes and ati 7.25% ( 7.25 % ) the following table sets forth information that is presented solely to address certain tower cash flow reporting requirements contained in the indentures for our 7.50% ( 7.50 % ) notes , 7.125% ( 7.125 % ) notes and ati 7.25% ( 7.25 % ) notes .
the information contained in note 19 to our consolidated financial statements is also presented to address certain reporting requirements contained in the indenture for our ati 7.25% ( 7.25 % ) notes .
the following table presents tower cash flow , adjusted consolidated cash flow and non-tower cash flow for the company and its restricted subsidiaries , as defined in the indentures for the applicable notes ( in thousands ) : .
|
.
|
| | tower cash flow for the three months ended december 31 2005 | $ 139590 |
|---:|:------------------------------------------------------------------------------|:-------------------|
| 0 | consolidated cash flow for the twelve months ended december 31 2005 | $ 498266 |
| 1 | less : tower cash flow for the twelve months ended december 31 2005 | -524804 ( 524804 ) |
| 2 | plus : four times tower cash flow for the three months ended december 31 2005 | 558360 |
| 3 | adjusted consolidated cash flow for the twelve months ended december 31 2005 | $ 531822 |
| 4 | non-tower cash flow for the twelve months ended december 31 2005 | $ -30584 ( 30584 ) |
|
with apb no .
25 .
instead , companies will be required to account for such transactions using a fair-value method and recognize the related expense associated with share-based payments in the statement of operations .
sfas 123r is effective for us as of january 1 , 2006 .
we have historically accounted for share-based payments to employees under apb no .
25 2019s intrinsic value method .
as such , we generally have not recognized compensation expense for options granted to employees .
we will adopt the provisions of sfas 123r under the modified prospective method , in which compensation cost for all share-based payments granted or modified after the effective date is recognized based upon the requirements of sfas 123r , and compensation cost for all awards granted to employees prior to the effective date that are unvested as of the effective date of sfas 123r is recognized based on sfas 123 .
tax benefits will be recognized related to the cost for share-based payments to the extent the equity instrument would ordinarily result in a future tax deduction under existing law .
tax expense will be recognized to write off excess deferred tax assets when the tax deduction upon settlement of a vested option is less than the expense recorded in the statement of operations ( to the extent not offset by prior tax credits for settlements where the tax deduction was greater than the fair value cost ) .
we estimate that we will recognize equity-based compensation expense of approximately $ 35 million to $ 38 million for the year ending december 31 , 2006 .
this amount is subject to revisions as we finalize certain assumptions related to 2006 , including the size and nature of awards and forfeiture rates .
sfas 123r also requires the benefits of tax deductions in excess of recognized compensation cost be reported as a financing cash flow rather than as operating cash flow as was previously required .
we cannot estimate what the future tax benefits will be as the amounts depend on , among other factors , future employee stock option exercises .
due to the our tax loss position , there was no operating cash inflow realized for december 31 , 2005 and 2004 for such excess tax deductions .
in march 2005 , the sec issued staff accounting bulletin ( sab ) no .
107 regarding the staff 2019s interpretation of sfas 123r .
this interpretation provides the staff 2019s views regarding interactions between sfas 123r and certain sec rules and regulations and provides interpretations of the valuation of share-based payments for public companies .
the interpretive guidance is intended to assist companies in applying the provisions of sfas 123r and investors and users of the financial statements in analyzing the information provided .
we will follow the guidance prescribed in sab no .
107 in connection with our adoption of sfas 123r .
information presented pursuant to the indentures of our 7.50% ( 7.50 % ) notes , 7.125% ( 7.125 % ) notes and ati 7.25% ( 7.25 % ) the following table sets forth information that is presented solely to address certain tower cash flow reporting requirements contained in the indentures for our 7.50% ( 7.50 % ) notes , 7.125% ( 7.125 % ) notes and ati 7.25% ( 7.25 % ) notes .
the information contained in note 19 to our consolidated financial statements is also presented to address certain reporting requirements contained in the indenture for our ati 7.25% ( 7.25 % ) notes .
the following table presents tower cash flow , adjusted consolidated cash flow and non-tower cash flow for the company and its restricted subsidiaries , as defined in the indentures for the applicable notes ( in thousands ) : ._| | tower cash flow for the three months ended december 31 2005 | $ 139590 |
|---:|:------------------------------------------------------------------------------|:-------------------|
| 0 | consolidated cash flow for the twelve months ended december 31 2005 | $ 498266 |
| 1 | less : tower cash flow for the twelve months ended december 31 2005 | -524804 ( 524804 ) |
| 2 | plus : four times tower cash flow for the three months ended december 31 2005 | 558360 |
| 3 | adjusted consolidated cash flow for the twelve months ended december 31 2005 | $ 531822 |
| 4 | non-tower cash flow for the twelve months ended december 31 2005 | $ -30584 ( 30584 ) |_.
| 2,005
| 54
|
AMT
|
American Tower
|
Real Estate
|
Telecom Tower REITs
|
Boston, Massachusetts
|
2007-11-19
| 1,053,507
|
1995
|
what portion of the adjusted consolidated cash flow for the twelve months ended december 31 , 2005 is related to tower cash flow?
|
105.0%
|
divide(558360, 531822)
|
with apb no .
25 .
instead , companies will be required to account for such transactions using a fair-value method and recognize the related expense associated with share-based payments in the statement of operations .
sfas 123r is effective for us as of january 1 , 2006 .
we have historically accounted for share-based payments to employees under apb no .
25 2019s intrinsic value method .
as such , we generally have not recognized compensation expense for options granted to employees .
we will adopt the provisions of sfas 123r under the modified prospective method , in which compensation cost for all share-based payments granted or modified after the effective date is recognized based upon the requirements of sfas 123r , and compensation cost for all awards granted to employees prior to the effective date that are unvested as of the effective date of sfas 123r is recognized based on sfas 123 .
tax benefits will be recognized related to the cost for share-based payments to the extent the equity instrument would ordinarily result in a future tax deduction under existing law .
tax expense will be recognized to write off excess deferred tax assets when the tax deduction upon settlement of a vested option is less than the expense recorded in the statement of operations ( to the extent not offset by prior tax credits for settlements where the tax deduction was greater than the fair value cost ) .
we estimate that we will recognize equity-based compensation expense of approximately $ 35 million to $ 38 million for the year ending december 31 , 2006 .
this amount is subject to revisions as we finalize certain assumptions related to 2006 , including the size and nature of awards and forfeiture rates .
sfas 123r also requires the benefits of tax deductions in excess of recognized compensation cost be reported as a financing cash flow rather than as operating cash flow as was previously required .
we cannot estimate what the future tax benefits will be as the amounts depend on , among other factors , future employee stock option exercises .
due to the our tax loss position , there was no operating cash inflow realized for december 31 , 2005 and 2004 for such excess tax deductions .
in march 2005 , the sec issued staff accounting bulletin ( sab ) no .
107 regarding the staff 2019s interpretation of sfas 123r .
this interpretation provides the staff 2019s views regarding interactions between sfas 123r and certain sec rules and regulations and provides interpretations of the valuation of share-based payments for public companies .
the interpretive guidance is intended to assist companies in applying the provisions of sfas 123r and investors and users of the financial statements in analyzing the information provided .
we will follow the guidance prescribed in sab no .
107 in connection with our adoption of sfas 123r .
information presented pursuant to the indentures of our 7.50% ( 7.50 % ) notes , 7.125% ( 7.125 % ) notes and ati 7.25% ( 7.25 % ) the following table sets forth information that is presented solely to address certain tower cash flow reporting requirements contained in the indentures for our 7.50% ( 7.50 % ) notes , 7.125% ( 7.125 % ) notes and ati 7.25% ( 7.25 % ) notes .
the information contained in note 19 to our consolidated financial statements is also presented to address certain reporting requirements contained in the indenture for our ati 7.25% ( 7.25 % ) notes .
the following table presents tower cash flow , adjusted consolidated cash flow and non-tower cash flow for the company and its restricted subsidiaries , as defined in the indentures for the applicable notes ( in thousands ) : .
|
.
|
| | tower cash flow for the three months ended december 31 2005 | $ 139590 |
|---:|:------------------------------------------------------------------------------|:-------------------|
| 0 | consolidated cash flow for the twelve months ended december 31 2005 | $ 498266 |
| 1 | less : tower cash flow for the twelve months ended december 31 2005 | -524804 ( 524804 ) |
| 2 | plus : four times tower cash flow for the three months ended december 31 2005 | 558360 |
| 3 | adjusted consolidated cash flow for the twelve months ended december 31 2005 | $ 531822 |
| 4 | non-tower cash flow for the twelve months ended december 31 2005 | $ -30584 ( 30584 ) |
|
with apb no .
25 .
instead , companies will be required to account for such transactions using a fair-value method and recognize the related expense associated with share-based payments in the statement of operations .
sfas 123r is effective for us as of january 1 , 2006 .
we have historically accounted for share-based payments to employees under apb no .
25 2019s intrinsic value method .
as such , we generally have not recognized compensation expense for options granted to employees .
we will adopt the provisions of sfas 123r under the modified prospective method , in which compensation cost for all share-based payments granted or modified after the effective date is recognized based upon the requirements of sfas 123r , and compensation cost for all awards granted to employees prior to the effective date that are unvested as of the effective date of sfas 123r is recognized based on sfas 123 .
tax benefits will be recognized related to the cost for share-based payments to the extent the equity instrument would ordinarily result in a future tax deduction under existing law .
tax expense will be recognized to write off excess deferred tax assets when the tax deduction upon settlement of a vested option is less than the expense recorded in the statement of operations ( to the extent not offset by prior tax credits for settlements where the tax deduction was greater than the fair value cost ) .
we estimate that we will recognize equity-based compensation expense of approximately $ 35 million to $ 38 million for the year ending december 31 , 2006 .
this amount is subject to revisions as we finalize certain assumptions related to 2006 , including the size and nature of awards and forfeiture rates .
sfas 123r also requires the benefits of tax deductions in excess of recognized compensation cost be reported as a financing cash flow rather than as operating cash flow as was previously required .
we cannot estimate what the future tax benefits will be as the amounts depend on , among other factors , future employee stock option exercises .
due to the our tax loss position , there was no operating cash inflow realized for december 31 , 2005 and 2004 for such excess tax deductions .
in march 2005 , the sec issued staff accounting bulletin ( sab ) no .
107 regarding the staff 2019s interpretation of sfas 123r .
this interpretation provides the staff 2019s views regarding interactions between sfas 123r and certain sec rules and regulations and provides interpretations of the valuation of share-based payments for public companies .
the interpretive guidance is intended to assist companies in applying the provisions of sfas 123r and investors and users of the financial statements in analyzing the information provided .
we will follow the guidance prescribed in sab no .
107 in connection with our adoption of sfas 123r .
information presented pursuant to the indentures of our 7.50% ( 7.50 % ) notes , 7.125% ( 7.125 % ) notes and ati 7.25% ( 7.25 % ) the following table sets forth information that is presented solely to address certain tower cash flow reporting requirements contained in the indentures for our 7.50% ( 7.50 % ) notes , 7.125% ( 7.125 % ) notes and ati 7.25% ( 7.25 % ) notes .
the information contained in note 19 to our consolidated financial statements is also presented to address certain reporting requirements contained in the indenture for our ati 7.25% ( 7.25 % ) notes .
the following table presents tower cash flow , adjusted consolidated cash flow and non-tower cash flow for the company and its restricted subsidiaries , as defined in the indentures for the applicable notes ( in thousands ) : ._| | tower cash flow for the three months ended december 31 2005 | $ 139590 |
|---:|:------------------------------------------------------------------------------|:-------------------|
| 0 | consolidated cash flow for the twelve months ended december 31 2005 | $ 498266 |
| 1 | less : tower cash flow for the twelve months ended december 31 2005 | -524804 ( 524804 ) |
| 2 | plus : four times tower cash flow for the three months ended december 31 2005 | 558360 |
| 3 | adjusted consolidated cash flow for the twelve months ended december 31 2005 | $ 531822 |
| 4 | non-tower cash flow for the twelve months ended december 31 2005 | $ -30584 ( 30584 ) |_.
| 2,005
| 54
|
AMT
|
American Tower
|
Real Estate
|
Telecom Tower REITs
|
Boston, Massachusetts
|
2007-11-19
| 1,053,507
|
1995
| null | null |
finqa77
|
what was the percentage growth in sales of cabinets from 2016 to 2017
|
2.9%
|
divide(subtract(2467.1, 2397.8), 2397.8)
|
south america .
approximately 26% ( 26 % ) of 2017 net sales were to international markets .
this segment sells directly through its own sales force and indirectly through independent manufacturers 2019 representatives , primarily to wholesalers , home centers , mass merchandisers and industrial distributors .
in aggregate , sales to the home depot and lowe 2019s comprised approximately 23% ( 23 % ) of net sales of the plumbing segment in 2017 .
this segment 2019s chief competitors include delta ( owned by masco ) , kohler , pfister ( owned by spectrum brands ) , american standard ( owned by lixil group ) , insinkerator ( owned by emerson electronic company ) and imported private-label brands .
doors .
our doors segment manufactures and sells fiberglass and steel entry door systems under the therma-tru brand and urethane millwork product lines under the fypon brand .
this segment benefits from the long-term trend away from traditional materials , such as wood , steel and aluminum , toward more energy-efficient and durable synthetic materials .
therma-tru products include fiberglass and steel residential entry door and patio door systems , primarily for sale in the u.s .
and canada .
this segment 2019s principal customers are home centers , millwork building products and wholesale distributors , and specialty dealers that provide products to the residential new construction market , as well as to the remodeling and renovation markets .
in aggregate , sales to the home depot and lowe 2019s comprised approximately 14% ( 14 % ) of net sales of the doors segment in 2017 .
this segment 2019s competitors include masonite , jeld-wen , plastpro and pella .
security .
our security segment 2019s products consist of locks , safety and security devices , and electronic security products manufactured , sourced and distributed primarily under the master lock brand and fire resistant safes , security containers and commercial cabinets manufactured , sourced and distributed under the sentrysafe brand .
this segment sells products principally in the u.s. , canada , europe , central america , japan and australia .
approximately 25% ( 25 % ) of 2017 net sales were to international markets .
this segment manufactures and sells key-controlled and combination padlocks , bicycle and cable locks , built-in locker locks , door hardware , automotive , trailer and towing locks , electronic access control solutions , and other specialty safety and security devices for consumer use to hardware , home center and other retail outlets .
in addition , the segment sells lock systems and fire resistant safes to locksmiths , industrial and institutional users , and original equipment manufacturers .
in aggregate , sales to the home depot and lowe 2019s comprised approximately 18% ( 18 % ) of the net sales of the security segment in 2017 .
master lock competes with abus , w.h .
brady , hampton , kwikset ( owned by spectrum brands ) , schlage ( owned by allegion ) , assa abloy and various imports , and sentrysafe competes with first alert , magnum , fortress , stack-on and fire king .
annual net sales for each of the last three fiscal years for each of our business segments were as follows : ( in millions ) 2017 2016 2015 .
|
for additional financial information for each of our business segments , refer to note 18 , 201cinformation on business segments , 201d to the consolidated financial statements in item 8 of this annual report on form other information raw materials .
the table below indicates the principal raw materials used by each of our segments .
these materials are available from a number of sources .
volatility in the prices of commodities and energy used in making and distributing our products impacts the cost of manufacturing our products. .
|
| | ( in millions ) | 2017 | 2016 | 2015 |
|---:|:------------------|:---------|:---------|:---------|
| 0 | cabinets | $ 2467.1 | $ 2397.8 | $ 2173.4 |
| 1 | plumbing | 1720.8 | 1534.4 | 1414.5 |
| 2 | doors | 502.9 | 473.0 | 439.1 |
| 3 | security | 592.5 | 579.7 | 552.4 |
| 4 | total | $ 5283.3 | $ 4984.9 | $ 4579.4 |
|
south america .
approximately 26% ( 26 % ) of 2017 net sales were to international markets .
this segment sells directly through its own sales force and indirectly through independent manufacturers 2019 representatives , primarily to wholesalers , home centers , mass merchandisers and industrial distributors .
in aggregate , sales to the home depot and lowe 2019s comprised approximately 23% ( 23 % ) of net sales of the plumbing segment in 2017 .
this segment 2019s chief competitors include delta ( owned by masco ) , kohler , pfister ( owned by spectrum brands ) , american standard ( owned by lixil group ) , insinkerator ( owned by emerson electronic company ) and imported private-label brands .
doors .
our doors segment manufactures and sells fiberglass and steel entry door systems under the therma-tru brand and urethane millwork product lines under the fypon brand .
this segment benefits from the long-term trend away from traditional materials , such as wood , steel and aluminum , toward more energy-efficient and durable synthetic materials .
therma-tru products include fiberglass and steel residential entry door and patio door systems , primarily for sale in the u.s .
and canada .
this segment 2019s principal customers are home centers , millwork building products and wholesale distributors , and specialty dealers that provide products to the residential new construction market , as well as to the remodeling and renovation markets .
in aggregate , sales to the home depot and lowe 2019s comprised approximately 14% ( 14 % ) of net sales of the doors segment in 2017 .
this segment 2019s competitors include masonite , jeld-wen , plastpro and pella .
security .
our security segment 2019s products consist of locks , safety and security devices , and electronic security products manufactured , sourced and distributed primarily under the master lock brand and fire resistant safes , security containers and commercial cabinets manufactured , sourced and distributed under the sentrysafe brand .
this segment sells products principally in the u.s. , canada , europe , central america , japan and australia .
approximately 25% ( 25 % ) of 2017 net sales were to international markets .
this segment manufactures and sells key-controlled and combination padlocks , bicycle and cable locks , built-in locker locks , door hardware , automotive , trailer and towing locks , electronic access control solutions , and other specialty safety and security devices for consumer use to hardware , home center and other retail outlets .
in addition , the segment sells lock systems and fire resistant safes to locksmiths , industrial and institutional users , and original equipment manufacturers .
in aggregate , sales to the home depot and lowe 2019s comprised approximately 18% ( 18 % ) of the net sales of the security segment in 2017 .
master lock competes with abus , w.h .
brady , hampton , kwikset ( owned by spectrum brands ) , schlage ( owned by allegion ) , assa abloy and various imports , and sentrysafe competes with first alert , magnum , fortress , stack-on and fire king .
annual net sales for each of the last three fiscal years for each of our business segments were as follows : ( in millions ) 2017 2016 2015 ._| | ( in millions ) | 2017 | 2016 | 2015 |
|---:|:------------------|:---------|:---------|:---------|
| 0 | cabinets | $ 2467.1 | $ 2397.8 | $ 2173.4 |
| 1 | plumbing | 1720.8 | 1534.4 | 1414.5 |
| 2 | doors | 502.9 | 473.0 | 439.1 |
| 3 | security | 592.5 | 579.7 | 552.4 |
| 4 | total | $ 5283.3 | $ 4984.9 | $ 4579.4 |_for additional financial information for each of our business segments , refer to note 18 , 201cinformation on business segments , 201d to the consolidated financial statements in item 8 of this annual report on form other information raw materials .
the table below indicates the principal raw materials used by each of our segments .
these materials are available from a number of sources .
volatility in the prices of commodities and energy used in making and distributing our products impacts the cost of manufacturing our products. .
| 2,017
| 23
|
FBHS
|
Fortune Brands Home & Security
|
Industrials
|
Building Products
|
Deerfield, IL
|
2011-01-01
| 1,519,751
|
2011
|
what was the percentage growth in sales of cabinets from 2016 to 2017
|
2.9%
|
divide(subtract(2467.1, 2397.8), 2397.8)
|
south america .
approximately 26% ( 26 % ) of 2017 net sales were to international markets .
this segment sells directly through its own sales force and indirectly through independent manufacturers 2019 representatives , primarily to wholesalers , home centers , mass merchandisers and industrial distributors .
in aggregate , sales to the home depot and lowe 2019s comprised approximately 23% ( 23 % ) of net sales of the plumbing segment in 2017 .
this segment 2019s chief competitors include delta ( owned by masco ) , kohler , pfister ( owned by spectrum brands ) , american standard ( owned by lixil group ) , insinkerator ( owned by emerson electronic company ) and imported private-label brands .
doors .
our doors segment manufactures and sells fiberglass and steel entry door systems under the therma-tru brand and urethane millwork product lines under the fypon brand .
this segment benefits from the long-term trend away from traditional materials , such as wood , steel and aluminum , toward more energy-efficient and durable synthetic materials .
therma-tru products include fiberglass and steel residential entry door and patio door systems , primarily for sale in the u.s .
and canada .
this segment 2019s principal customers are home centers , millwork building products and wholesale distributors , and specialty dealers that provide products to the residential new construction market , as well as to the remodeling and renovation markets .
in aggregate , sales to the home depot and lowe 2019s comprised approximately 14% ( 14 % ) of net sales of the doors segment in 2017 .
this segment 2019s competitors include masonite , jeld-wen , plastpro and pella .
security .
our security segment 2019s products consist of locks , safety and security devices , and electronic security products manufactured , sourced and distributed primarily under the master lock brand and fire resistant safes , security containers and commercial cabinets manufactured , sourced and distributed under the sentrysafe brand .
this segment sells products principally in the u.s. , canada , europe , central america , japan and australia .
approximately 25% ( 25 % ) of 2017 net sales were to international markets .
this segment manufactures and sells key-controlled and combination padlocks , bicycle and cable locks , built-in locker locks , door hardware , automotive , trailer and towing locks , electronic access control solutions , and other specialty safety and security devices for consumer use to hardware , home center and other retail outlets .
in addition , the segment sells lock systems and fire resistant safes to locksmiths , industrial and institutional users , and original equipment manufacturers .
in aggregate , sales to the home depot and lowe 2019s comprised approximately 18% ( 18 % ) of the net sales of the security segment in 2017 .
master lock competes with abus , w.h .
brady , hampton , kwikset ( owned by spectrum brands ) , schlage ( owned by allegion ) , assa abloy and various imports , and sentrysafe competes with first alert , magnum , fortress , stack-on and fire king .
annual net sales for each of the last three fiscal years for each of our business segments were as follows : ( in millions ) 2017 2016 2015 .
|
for additional financial information for each of our business segments , refer to note 18 , 201cinformation on business segments , 201d to the consolidated financial statements in item 8 of this annual report on form other information raw materials .
the table below indicates the principal raw materials used by each of our segments .
these materials are available from a number of sources .
volatility in the prices of commodities and energy used in making and distributing our products impacts the cost of manufacturing our products. .
|
| | ( in millions ) | 2017 | 2016 | 2015 |
|---:|:------------------|:---------|:---------|:---------|
| 0 | cabinets | $ 2467.1 | $ 2397.8 | $ 2173.4 |
| 1 | plumbing | 1720.8 | 1534.4 | 1414.5 |
| 2 | doors | 502.9 | 473.0 | 439.1 |
| 3 | security | 592.5 | 579.7 | 552.4 |
| 4 | total | $ 5283.3 | $ 4984.9 | $ 4579.4 |
|
south america .
approximately 26% ( 26 % ) of 2017 net sales were to international markets .
this segment sells directly through its own sales force and indirectly through independent manufacturers 2019 representatives , primarily to wholesalers , home centers , mass merchandisers and industrial distributors .
in aggregate , sales to the home depot and lowe 2019s comprised approximately 23% ( 23 % ) of net sales of the plumbing segment in 2017 .
this segment 2019s chief competitors include delta ( owned by masco ) , kohler , pfister ( owned by spectrum brands ) , american standard ( owned by lixil group ) , insinkerator ( owned by emerson electronic company ) and imported private-label brands .
doors .
our doors segment manufactures and sells fiberglass and steel entry door systems under the therma-tru brand and urethane millwork product lines under the fypon brand .
this segment benefits from the long-term trend away from traditional materials , such as wood , steel and aluminum , toward more energy-efficient and durable synthetic materials .
therma-tru products include fiberglass and steel residential entry door and patio door systems , primarily for sale in the u.s .
and canada .
this segment 2019s principal customers are home centers , millwork building products and wholesale distributors , and specialty dealers that provide products to the residential new construction market , as well as to the remodeling and renovation markets .
in aggregate , sales to the home depot and lowe 2019s comprised approximately 14% ( 14 % ) of net sales of the doors segment in 2017 .
this segment 2019s competitors include masonite , jeld-wen , plastpro and pella .
security .
our security segment 2019s products consist of locks , safety and security devices , and electronic security products manufactured , sourced and distributed primarily under the master lock brand and fire resistant safes , security containers and commercial cabinets manufactured , sourced and distributed under the sentrysafe brand .
this segment sells products principally in the u.s. , canada , europe , central america , japan and australia .
approximately 25% ( 25 % ) of 2017 net sales were to international markets .
this segment manufactures and sells key-controlled and combination padlocks , bicycle and cable locks , built-in locker locks , door hardware , automotive , trailer and towing locks , electronic access control solutions , and other specialty safety and security devices for consumer use to hardware , home center and other retail outlets .
in addition , the segment sells lock systems and fire resistant safes to locksmiths , industrial and institutional users , and original equipment manufacturers .
in aggregate , sales to the home depot and lowe 2019s comprised approximately 18% ( 18 % ) of the net sales of the security segment in 2017 .
master lock competes with abus , w.h .
brady , hampton , kwikset ( owned by spectrum brands ) , schlage ( owned by allegion ) , assa abloy and various imports , and sentrysafe competes with first alert , magnum , fortress , stack-on and fire king .
annual net sales for each of the last three fiscal years for each of our business segments were as follows : ( in millions ) 2017 2016 2015 ._| | ( in millions ) | 2017 | 2016 | 2015 |
|---:|:------------------|:---------|:---------|:---------|
| 0 | cabinets | $ 2467.1 | $ 2397.8 | $ 2173.4 |
| 1 | plumbing | 1720.8 | 1534.4 | 1414.5 |
| 2 | doors | 502.9 | 473.0 | 439.1 |
| 3 | security | 592.5 | 579.7 | 552.4 |
| 4 | total | $ 5283.3 | $ 4984.9 | $ 4579.4 |_for additional financial information for each of our business segments , refer to note 18 , 201cinformation on business segments , 201d to the consolidated financial statements in item 8 of this annual report on form other information raw materials .
the table below indicates the principal raw materials used by each of our segments .
these materials are available from a number of sources .
volatility in the prices of commodities and energy used in making and distributing our products impacts the cost of manufacturing our products. .
| 2,017
| 23
|
FBHS
|
Fortune Brands Home & Security
|
Industrials
|
Building Products
|
Deerfield, IL
|
2011-01-01
| 1,519,751
|
2011
| null | null |
finqa78
|
what was the ratio of the segment net sales in 2008 to 2009
|
1.69
|
divide(12099, 7146)
|
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 .
accordingly , a strong commitment to .
|
| | ( dollars in millions ) | years ended december 31 2009 | years ended december 31 2008 | years ended december 31 2007 | years ended december 31 2009 20142008 | 2008 20142007 |
|---:|:----------------------------|:-------------------------------|:-------------------------------|:-------------------------------|:----------------------------------------|:----------------|
| 0 | segment net sales | $ 7146 | $ 12099 | $ 18988 | ( 41 ) % ( % ) | ( 36 ) % ( % ) |
| 1 | operating earnings ( loss ) | -1077 ( 1077 ) | -2199 ( 2199 ) | -1201 ( 1201 ) | ( 51 ) % ( % ) | 83% ( 83 % ) |
|
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. ._| | ( dollars in millions ) | years ended december 31 2009 | years ended december 31 2008 | years ended december 31 2007 | years ended december 31 2009 20142008 | 2008 20142007 |
|---:|:----------------------------|:-------------------------------|:-------------------------------|:-------------------------------|:----------------------------------------|:----------------|
| 0 | segment net sales | $ 7146 | $ 12099 | $ 18988 | ( 41 ) % ( % ) | ( 36 ) % ( % ) |
| 1 | operating earnings ( loss ) | -1077 ( 1077 ) | -2199 ( 2199 ) | -1201 ( 1201 ) | ( 51 ) % ( % ) | 83% ( 83 % ) |_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 .
accordingly , a strong commitment to .
| 2,009
| 65
|
MSI
|
Motorola Solutions
|
Information Technology
|
Communications Equipment
|
Chicago, Illinois
|
1957-03-04
| 68,505
|
1928 (2011)
|
what was the ratio of the segment net sales in 2008 to 2009
|
1.69
|
divide(12099, 7146)
|
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 .
accordingly , a strong commitment to .
|
| | ( dollars in millions ) | years ended december 31 2009 | years ended december 31 2008 | years ended december 31 2007 | years ended december 31 2009 20142008 | 2008 20142007 |
|---:|:----------------------------|:-------------------------------|:-------------------------------|:-------------------------------|:----------------------------------------|:----------------|
| 0 | segment net sales | $ 7146 | $ 12099 | $ 18988 | ( 41 ) % ( % ) | ( 36 ) % ( % ) |
| 1 | operating earnings ( loss ) | -1077 ( 1077 ) | -2199 ( 2199 ) | -1201 ( 1201 ) | ( 51 ) % ( % ) | 83% ( 83 % ) |
|
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. ._| | ( dollars in millions ) | years ended december 31 2009 | years ended december 31 2008 | years ended december 31 2007 | years ended december 31 2009 20142008 | 2008 20142007 |
|---:|:----------------------------|:-------------------------------|:-------------------------------|:-------------------------------|:----------------------------------------|:----------------|
| 0 | segment net sales | $ 7146 | $ 12099 | $ 18988 | ( 41 ) % ( % ) | ( 36 ) % ( % ) |
| 1 | operating earnings ( loss ) | -1077 ( 1077 ) | -2199 ( 2199 ) | -1201 ( 1201 ) | ( 51 ) % ( % ) | 83% ( 83 % ) |_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 .
accordingly , a strong commitment to .
| 2,009
| 65
|
MSI
|
Motorola Solutions
|
Information Technology
|
Communications Equipment
|
Chicago, Illinois
|
1957-03-04
| 68,505
|
1928 (2011)
| null | null |
finqa79
|
what is the percentage change in the weighted-average discount rate for u.s . pension plans from 2014 to 2015?
|
8.9%
|
divide(subtract(4.30, 3.95), 3.95)
|
the selection and disclosure of our critical accounting estimates have been discussed with our audit committee .
the following is a discussion of the more significant assumptions , estimates , accounting policies and methods used in the preparation of our consolidated financial statements : 2022 revenue recognition - we recognize revenue when persuasive evidence of an arrangement exists , delivery of product has occurred , the sales price is fixed or determinable and collectability is reasonably assured .
for our company , this means that revenue is recognized when title and risk of loss is transferred to our customers .
title transfers to our customers upon shipment or upon receipt at the customer's location as determined by the sales terms for each transaction .
the company estimates the cost of sales returns based on historical experience , and these estimates are normally immaterial .
2022 goodwill and non-amortizable intangible assets valuation - we test goodwill and non-amortizable intangible assets for impairment annually or more frequently if events occur that would warrant such review .
we perform our annual impairment analysis in the first quarter of each year .
while the company has the option to perform a qualitative assessment for both goodwill and non-amortizable intangible assets to determine if it is more likely than not that an impairment exists , the company elects to perform the quantitative assessment for our annual impairment analysis .
the impairment analysis involves comparing the fair value of each reporting unit or non-amortizable intangible asset to the carrying value .
if the carrying value exceeds the fair value , goodwill or a non-amortizable intangible asset is considered impaired .
to determine the fair value of goodwill , we primarily use a discounted cash flow model , supported by the market approach using earnings multiples of comparable global and local companies within the tobacco industry .
at december 31 , 2015 , the carrying value of our goodwill was $ 7.4 billion , which is related to ten reporting units , each of which is comprised of a group of markets with similar economic characteristics .
the estimated fair value of our ten reporting units exceeded the carrying value as of december 31 , 2015 .
to determine the fair value of non-amortizable intangible assets , we primarily use a discounted cash flow model applying the relief-from-royalty method .
we concluded that the fair value of our non-amortizable intangible assets exceeded the carrying value , and any reasonable movement in the assumptions would not result in an impairment .
these discounted cash flow models include management assumptions relevant for forecasting operating cash flows , which are subject to changes in business conditions , such as volumes and prices , costs to produce , discount rates and estimated capital needs .
management considers historical experience and all available information at the time the fair values are estimated , and we believe these assumptions are consistent with the assumptions a hypothetical marketplace participant would use .
since the march 28 , 2008 , spin-off from altria , we have not recorded a charge to earnings for an impairment of goodwill or non-amortizable intangible assets .
2022 marketing and advertising costs - we incur certain costs to support our products through programs which include advertising , marketing , consumer engagement and trade promotions .
the costs of our advertising and marketing programs are expensed in accordance with u.s .
gaap .
recognition of the cost related to our consumer engagement and trade promotion programs contain uncertainties due to the judgment required in estimating the potential performance and compliance for each program .
for volume-based incentives provided to customers , management continually assesses and estimates , by customer , the likelihood of the customer achieving the specified targets and records the reduction of revenue as the sales are made .
for other trade promotions , management relies on estimated utilization rates that have been developed from historical experience .
changes in the assumptions used in estimating the cost of any individual marketing program would not result in a material change in our financial position , results of operations or operating cash flows .
we have not made any material changes in the accounting methodology used to estimate our marketing programs during the past three years .
2022 employee benefit plans - as discussed in item 8 , note 13 .
benefit plans to our consolidated financial statements , we provide a range of benefits to our employees and retired employees , including pensions , postretirement health care and postemployment benefits ( primarily severance ) .
we record annual amounts relating to these plans based on calculations specified by u.s .
gaap .
these calculations include various actuarial assumptions , such as discount rates , assumed rates of return on plan assets , compensation increases , mortality , turnover rates and health care cost trend rates .
we review actuarial assumptions on an annual basis and make modifications to the assumptions based on current rates and trends when it is deemed appropriate to do so .
as permitted by u.s .
gaap , any effect of the modifications is generally amortized over future periods .
we believe that the assumptions utilized in calculating our obligations under these plans are reasonable based upon our historical experience and advice from our actuaries .
weighted-average discount rate assumptions for pensions and postretirement plans are as follows: .
|
we anticipate that assumption changes , coupled with decreased amortization of deferred losses , will decrease 2016 pre-tax u.s .
and non- u.s .
pension and postretirement expense to approximately $ 209 million as compared with approximately $ 240 million in 2015 , excluding .
|
| | | 2015 | 2014 |
|---:|:------------------------|:-----------------|:-----------------|
| 0 | u.s . pension plans | 4.30% ( 4.30 % ) | 3.95% ( 3.95 % ) |
| 1 | non-u.s . pension plans | 1.68% ( 1.68 % ) | 1.92% ( 1.92 % ) |
| 2 | postretirement plans | 4.45% ( 4.45 % ) | 4.20% ( 4.20 % ) |
|
the selection and disclosure of our critical accounting estimates have been discussed with our audit committee .
the following is a discussion of the more significant assumptions , estimates , accounting policies and methods used in the preparation of our consolidated financial statements : 2022 revenue recognition - we recognize revenue when persuasive evidence of an arrangement exists , delivery of product has occurred , the sales price is fixed or determinable and collectability is reasonably assured .
for our company , this means that revenue is recognized when title and risk of loss is transferred to our customers .
title transfers to our customers upon shipment or upon receipt at the customer's location as determined by the sales terms for each transaction .
the company estimates the cost of sales returns based on historical experience , and these estimates are normally immaterial .
2022 goodwill and non-amortizable intangible assets valuation - we test goodwill and non-amortizable intangible assets for impairment annually or more frequently if events occur that would warrant such review .
we perform our annual impairment analysis in the first quarter of each year .
while the company has the option to perform a qualitative assessment for both goodwill and non-amortizable intangible assets to determine if it is more likely than not that an impairment exists , the company elects to perform the quantitative assessment for our annual impairment analysis .
the impairment analysis involves comparing the fair value of each reporting unit or non-amortizable intangible asset to the carrying value .
if the carrying value exceeds the fair value , goodwill or a non-amortizable intangible asset is considered impaired .
to determine the fair value of goodwill , we primarily use a discounted cash flow model , supported by the market approach using earnings multiples of comparable global and local companies within the tobacco industry .
at december 31 , 2015 , the carrying value of our goodwill was $ 7.4 billion , which is related to ten reporting units , each of which is comprised of a group of markets with similar economic characteristics .
the estimated fair value of our ten reporting units exceeded the carrying value as of december 31 , 2015 .
to determine the fair value of non-amortizable intangible assets , we primarily use a discounted cash flow model applying the relief-from-royalty method .
we concluded that the fair value of our non-amortizable intangible assets exceeded the carrying value , and any reasonable movement in the assumptions would not result in an impairment .
these discounted cash flow models include management assumptions relevant for forecasting operating cash flows , which are subject to changes in business conditions , such as volumes and prices , costs to produce , discount rates and estimated capital needs .
management considers historical experience and all available information at the time the fair values are estimated , and we believe these assumptions are consistent with the assumptions a hypothetical marketplace participant would use .
since the march 28 , 2008 , spin-off from altria , we have not recorded a charge to earnings for an impairment of goodwill or non-amortizable intangible assets .
2022 marketing and advertising costs - we incur certain costs to support our products through programs which include advertising , marketing , consumer engagement and trade promotions .
the costs of our advertising and marketing programs are expensed in accordance with u.s .
gaap .
recognition of the cost related to our consumer engagement and trade promotion programs contain uncertainties due to the judgment required in estimating the potential performance and compliance for each program .
for volume-based incentives provided to customers , management continually assesses and estimates , by customer , the likelihood of the customer achieving the specified targets and records the reduction of revenue as the sales are made .
for other trade promotions , management relies on estimated utilization rates that have been developed from historical experience .
changes in the assumptions used in estimating the cost of any individual marketing program would not result in a material change in our financial position , results of operations or operating cash flows .
we have not made any material changes in the accounting methodology used to estimate our marketing programs during the past three years .
2022 employee benefit plans - as discussed in item 8 , note 13 .
benefit plans to our consolidated financial statements , we provide a range of benefits to our employees and retired employees , including pensions , postretirement health care and postemployment benefits ( primarily severance ) .
we record annual amounts relating to these plans based on calculations specified by u.s .
gaap .
these calculations include various actuarial assumptions , such as discount rates , assumed rates of return on plan assets , compensation increases , mortality , turnover rates and health care cost trend rates .
we review actuarial assumptions on an annual basis and make modifications to the assumptions based on current rates and trends when it is deemed appropriate to do so .
as permitted by u.s .
gaap , any effect of the modifications is generally amortized over future periods .
we believe that the assumptions utilized in calculating our obligations under these plans are reasonable based upon our historical experience and advice from our actuaries .
weighted-average discount rate assumptions for pensions and postretirement plans are as follows: ._| | | 2015 | 2014 |
|---:|:------------------------|:-----------------|:-----------------|
| 0 | u.s . pension plans | 4.30% ( 4.30 % ) | 3.95% ( 3.95 % ) |
| 1 | non-u.s . pension plans | 1.68% ( 1.68 % ) | 1.92% ( 1.92 % ) |
| 2 | postretirement plans | 4.45% ( 4.45 % ) | 4.20% ( 4.20 % ) |_we anticipate that assumption changes , coupled with decreased amortization of deferred losses , will decrease 2016 pre-tax u.s .
and non- u.s .
pension and postretirement expense to approximately $ 209 million as compared with approximately $ 240 million in 2015 , excluding .
| 2,015
| 38
|
PM
|
Philip Morris International
|
Consumer Staples
|
Tobacco
|
New York City, New York
|
2008-03-31
| 1,413,329
|
2008 (1847)
|
what is the percentage change in the weighted-average discount rate for u.s . pension plans from 2014 to 2015?
|
8.9%
|
divide(subtract(4.30, 3.95), 3.95)
|
the selection and disclosure of our critical accounting estimates have been discussed with our audit committee .
the following is a discussion of the more significant assumptions , estimates , accounting policies and methods used in the preparation of our consolidated financial statements : 2022 revenue recognition - we recognize revenue when persuasive evidence of an arrangement exists , delivery of product has occurred , the sales price is fixed or determinable and collectability is reasonably assured .
for our company , this means that revenue is recognized when title and risk of loss is transferred to our customers .
title transfers to our customers upon shipment or upon receipt at the customer's location as determined by the sales terms for each transaction .
the company estimates the cost of sales returns based on historical experience , and these estimates are normally immaterial .
2022 goodwill and non-amortizable intangible assets valuation - we test goodwill and non-amortizable intangible assets for impairment annually or more frequently if events occur that would warrant such review .
we perform our annual impairment analysis in the first quarter of each year .
while the company has the option to perform a qualitative assessment for both goodwill and non-amortizable intangible assets to determine if it is more likely than not that an impairment exists , the company elects to perform the quantitative assessment for our annual impairment analysis .
the impairment analysis involves comparing the fair value of each reporting unit or non-amortizable intangible asset to the carrying value .
if the carrying value exceeds the fair value , goodwill or a non-amortizable intangible asset is considered impaired .
to determine the fair value of goodwill , we primarily use a discounted cash flow model , supported by the market approach using earnings multiples of comparable global and local companies within the tobacco industry .
at december 31 , 2015 , the carrying value of our goodwill was $ 7.4 billion , which is related to ten reporting units , each of which is comprised of a group of markets with similar economic characteristics .
the estimated fair value of our ten reporting units exceeded the carrying value as of december 31 , 2015 .
to determine the fair value of non-amortizable intangible assets , we primarily use a discounted cash flow model applying the relief-from-royalty method .
we concluded that the fair value of our non-amortizable intangible assets exceeded the carrying value , and any reasonable movement in the assumptions would not result in an impairment .
these discounted cash flow models include management assumptions relevant for forecasting operating cash flows , which are subject to changes in business conditions , such as volumes and prices , costs to produce , discount rates and estimated capital needs .
management considers historical experience and all available information at the time the fair values are estimated , and we believe these assumptions are consistent with the assumptions a hypothetical marketplace participant would use .
since the march 28 , 2008 , spin-off from altria , we have not recorded a charge to earnings for an impairment of goodwill or non-amortizable intangible assets .
2022 marketing and advertising costs - we incur certain costs to support our products through programs which include advertising , marketing , consumer engagement and trade promotions .
the costs of our advertising and marketing programs are expensed in accordance with u.s .
gaap .
recognition of the cost related to our consumer engagement and trade promotion programs contain uncertainties due to the judgment required in estimating the potential performance and compliance for each program .
for volume-based incentives provided to customers , management continually assesses and estimates , by customer , the likelihood of the customer achieving the specified targets and records the reduction of revenue as the sales are made .
for other trade promotions , management relies on estimated utilization rates that have been developed from historical experience .
changes in the assumptions used in estimating the cost of any individual marketing program would not result in a material change in our financial position , results of operations or operating cash flows .
we have not made any material changes in the accounting methodology used to estimate our marketing programs during the past three years .
2022 employee benefit plans - as discussed in item 8 , note 13 .
benefit plans to our consolidated financial statements , we provide a range of benefits to our employees and retired employees , including pensions , postretirement health care and postemployment benefits ( primarily severance ) .
we record annual amounts relating to these plans based on calculations specified by u.s .
gaap .
these calculations include various actuarial assumptions , such as discount rates , assumed rates of return on plan assets , compensation increases , mortality , turnover rates and health care cost trend rates .
we review actuarial assumptions on an annual basis and make modifications to the assumptions based on current rates and trends when it is deemed appropriate to do so .
as permitted by u.s .
gaap , any effect of the modifications is generally amortized over future periods .
we believe that the assumptions utilized in calculating our obligations under these plans are reasonable based upon our historical experience and advice from our actuaries .
weighted-average discount rate assumptions for pensions and postretirement plans are as follows: .
|
we anticipate that assumption changes , coupled with decreased amortization of deferred losses , will decrease 2016 pre-tax u.s .
and non- u.s .
pension and postretirement expense to approximately $ 209 million as compared with approximately $ 240 million in 2015 , excluding .
|
| | | 2015 | 2014 |
|---:|:------------------------|:-----------------|:-----------------|
| 0 | u.s . pension plans | 4.30% ( 4.30 % ) | 3.95% ( 3.95 % ) |
| 1 | non-u.s . pension plans | 1.68% ( 1.68 % ) | 1.92% ( 1.92 % ) |
| 2 | postretirement plans | 4.45% ( 4.45 % ) | 4.20% ( 4.20 % ) |
|
the selection and disclosure of our critical accounting estimates have been discussed with our audit committee .
the following is a discussion of the more significant assumptions , estimates , accounting policies and methods used in the preparation of our consolidated financial statements : 2022 revenue recognition - we recognize revenue when persuasive evidence of an arrangement exists , delivery of product has occurred , the sales price is fixed or determinable and collectability is reasonably assured .
for our company , this means that revenue is recognized when title and risk of loss is transferred to our customers .
title transfers to our customers upon shipment or upon receipt at the customer's location as determined by the sales terms for each transaction .
the company estimates the cost of sales returns based on historical experience , and these estimates are normally immaterial .
2022 goodwill and non-amortizable intangible assets valuation - we test goodwill and non-amortizable intangible assets for impairment annually or more frequently if events occur that would warrant such review .
we perform our annual impairment analysis in the first quarter of each year .
while the company has the option to perform a qualitative assessment for both goodwill and non-amortizable intangible assets to determine if it is more likely than not that an impairment exists , the company elects to perform the quantitative assessment for our annual impairment analysis .
the impairment analysis involves comparing the fair value of each reporting unit or non-amortizable intangible asset to the carrying value .
if the carrying value exceeds the fair value , goodwill or a non-amortizable intangible asset is considered impaired .
to determine the fair value of goodwill , we primarily use a discounted cash flow model , supported by the market approach using earnings multiples of comparable global and local companies within the tobacco industry .
at december 31 , 2015 , the carrying value of our goodwill was $ 7.4 billion , which is related to ten reporting units , each of which is comprised of a group of markets with similar economic characteristics .
the estimated fair value of our ten reporting units exceeded the carrying value as of december 31 , 2015 .
to determine the fair value of non-amortizable intangible assets , we primarily use a discounted cash flow model applying the relief-from-royalty method .
we concluded that the fair value of our non-amortizable intangible assets exceeded the carrying value , and any reasonable movement in the assumptions would not result in an impairment .
these discounted cash flow models include management assumptions relevant for forecasting operating cash flows , which are subject to changes in business conditions , such as volumes and prices , costs to produce , discount rates and estimated capital needs .
management considers historical experience and all available information at the time the fair values are estimated , and we believe these assumptions are consistent with the assumptions a hypothetical marketplace participant would use .
since the march 28 , 2008 , spin-off from altria , we have not recorded a charge to earnings for an impairment of goodwill or non-amortizable intangible assets .
2022 marketing and advertising costs - we incur certain costs to support our products through programs which include advertising , marketing , consumer engagement and trade promotions .
the costs of our advertising and marketing programs are expensed in accordance with u.s .
gaap .
recognition of the cost related to our consumer engagement and trade promotion programs contain uncertainties due to the judgment required in estimating the potential performance and compliance for each program .
for volume-based incentives provided to customers , management continually assesses and estimates , by customer , the likelihood of the customer achieving the specified targets and records the reduction of revenue as the sales are made .
for other trade promotions , management relies on estimated utilization rates that have been developed from historical experience .
changes in the assumptions used in estimating the cost of any individual marketing program would not result in a material change in our financial position , results of operations or operating cash flows .
we have not made any material changes in the accounting methodology used to estimate our marketing programs during the past three years .
2022 employee benefit plans - as discussed in item 8 , note 13 .
benefit plans to our consolidated financial statements , we provide a range of benefits to our employees and retired employees , including pensions , postretirement health care and postemployment benefits ( primarily severance ) .
we record annual amounts relating to these plans based on calculations specified by u.s .
gaap .
these calculations include various actuarial assumptions , such as discount rates , assumed rates of return on plan assets , compensation increases , mortality , turnover rates and health care cost trend rates .
we review actuarial assumptions on an annual basis and make modifications to the assumptions based on current rates and trends when it is deemed appropriate to do so .
as permitted by u.s .
gaap , any effect of the modifications is generally amortized over future periods .
we believe that the assumptions utilized in calculating our obligations under these plans are reasonable based upon our historical experience and advice from our actuaries .
weighted-average discount rate assumptions for pensions and postretirement plans are as follows: ._| | | 2015 | 2014 |
|---:|:------------------------|:-----------------|:-----------------|
| 0 | u.s . pension plans | 4.30% ( 4.30 % ) | 3.95% ( 3.95 % ) |
| 1 | non-u.s . pension plans | 1.68% ( 1.68 % ) | 1.92% ( 1.92 % ) |
| 2 | postretirement plans | 4.45% ( 4.45 % ) | 4.20% ( 4.20 % ) |_we anticipate that assumption changes , coupled with decreased amortization of deferred losses , will decrease 2016 pre-tax u.s .
and non- u.s .
pension and postretirement expense to approximately $ 209 million as compared with approximately $ 240 million in 2015 , excluding .
| 2,015
| 38
|
PM
|
Philip Morris International
|
Consumer Staples
|
Tobacco
|
New York City, New York
|
2008-03-31
| 1,413,329
|
2008 (1847)
| null | null |
finqa80
|
considering the year 2009 , what is the percentage of the segment's operating income among the total operating income?
|
22.55%
|
divide(203, 900)
|
of exiting a business in japan , economic weakness in asia and political unrest in thailand , partially offset by growth in new zealand and certain emerging markets .
reinsurance commissions , fees and other revenue increased 48% ( 48 % ) , due mainly to the benfield merger , partially offset by unfavorable foreign currency translation .
organic revenue is even with 2008 , as growth in domestic treaty business and slightly higher pricing was offset by greater client retention , and declines in investment banking and facultative placements .
operating income operating income increased $ 54 million or 6% ( 6 % ) from 2008 to $ 900 million in 2009 .
in 2009 , operating income margins in this segment were 14.3% ( 14.3 % ) , up 60 basis points from 13.7% ( 13.7 % ) in 2008 .
contributing to increased operating income and margins were the merger with benfield , lower e&o costs due to insurance recoveries , a pension curtailment gain of $ 54 million in 2009 versus a curtailment loss of $ 6 million in 2008 , declines in anti-corruption and compliance initiative costs of $ 35 million , restructuring savings , and other cost savings initiatives .
these items were partially offset by an increase of $ 140 million in restructuring costs , $ 95 million of lower fiduciary investment income , benfield integration costs and higher amortization of intangible assets obtained in the merger , and unfavorable foreign currency translation .
consulting .
|
our consulting segment generated 17% ( 17 % ) of our consolidated total revenues in 2009 and provides a broad range of human capital consulting services , as follows : consulting services : 1 .
health and benefits advises clients about how to structure , fund , and administer employee benefit programs that attract , retain , and motivate employees .
benefits consulting include health and welfare , executive benefits , workforce strategies and productivity , absence management , benefits administration , data-driven health , compliance , employee commitment , investment advisory and elective benefits services .
2 .
retirement specializes in global actuarial services , defined contribution consulting , investment consulting , tax and erisa consulting , and pension administration .
3 .
compensation focuses on compensatory advisory/counsel including : compensation planning design , executive reward strategies , salary survey and benchmarking , market share studies and sales force effectiveness , with special expertise in the financial services and technology industries .
4 .
strategic human capital delivers advice to complex global organizations on talent , change and organizational effectiveness issues , including talent strategy and acquisition , executive on-boarding , performance management , leadership assessment and development , communication strategy , workforce training and change management .
outsourcing offers employment processing , performance improvement , benefits administration and other employment-related services .
beginning in late 2008 and continuing throughout 2009 , the disruption in the global credit markets and the deterioration of the financial markets has created significant uncertainty in the marketplace .
the prolonged economic downturn is adversely impacting our clients 2019 financial condition and the levels of business activities in the industries and geographies where we operate .
while we believe that the majority of our practices are well positioned to manage through this time , these challenges are reducing demand for some of our services and depressing the price of those services , which is having an adverse effect on our new business and results of operations. .
|
| | years ended december 31, | 2009 | 2008 | 2007 |
|---:|:--------------------------------|:-----------------|:-----------------|:-----------------|
| 0 | segment revenue | $ 1267 | $ 1356 | $ 1345 |
| 1 | segment operating income | 203 | 208 | 180 |
| 2 | segment operating income margin | 16.0% ( 16.0 % ) | 15.3% ( 15.3 % ) | 13.4% ( 13.4 % ) |
|
of exiting a business in japan , economic weakness in asia and political unrest in thailand , partially offset by growth in new zealand and certain emerging markets .
reinsurance commissions , fees and other revenue increased 48% ( 48 % ) , due mainly to the benfield merger , partially offset by unfavorable foreign currency translation .
organic revenue is even with 2008 , as growth in domestic treaty business and slightly higher pricing was offset by greater client retention , and declines in investment banking and facultative placements .
operating income operating income increased $ 54 million or 6% ( 6 % ) from 2008 to $ 900 million in 2009 .
in 2009 , operating income margins in this segment were 14.3% ( 14.3 % ) , up 60 basis points from 13.7% ( 13.7 % ) in 2008 .
contributing to increased operating income and margins were the merger with benfield , lower e&o costs due to insurance recoveries , a pension curtailment gain of $ 54 million in 2009 versus a curtailment loss of $ 6 million in 2008 , declines in anti-corruption and compliance initiative costs of $ 35 million , restructuring savings , and other cost savings initiatives .
these items were partially offset by an increase of $ 140 million in restructuring costs , $ 95 million of lower fiduciary investment income , benfield integration costs and higher amortization of intangible assets obtained in the merger , and unfavorable foreign currency translation .
consulting ._| | years ended december 31, | 2009 | 2008 | 2007 |
|---:|:--------------------------------|:-----------------|:-----------------|:-----------------|
| 0 | segment revenue | $ 1267 | $ 1356 | $ 1345 |
| 1 | segment operating income | 203 | 208 | 180 |
| 2 | segment operating income margin | 16.0% ( 16.0 % ) | 15.3% ( 15.3 % ) | 13.4% ( 13.4 % ) |_our consulting segment generated 17% ( 17 % ) of our consolidated total revenues in 2009 and provides a broad range of human capital consulting services , as follows : consulting services : 1 .
health and benefits advises clients about how to structure , fund , and administer employee benefit programs that attract , retain , and motivate employees .
benefits consulting include health and welfare , executive benefits , workforce strategies and productivity , absence management , benefits administration , data-driven health , compliance , employee commitment , investment advisory and elective benefits services .
2 .
retirement specializes in global actuarial services , defined contribution consulting , investment consulting , tax and erisa consulting , and pension administration .
3 .
compensation focuses on compensatory advisory/counsel including : compensation planning design , executive reward strategies , salary survey and benchmarking , market share studies and sales force effectiveness , with special expertise in the financial services and technology industries .
4 .
strategic human capital delivers advice to complex global organizations on talent , change and organizational effectiveness issues , including talent strategy and acquisition , executive on-boarding , performance management , leadership assessment and development , communication strategy , workforce training and change management .
outsourcing offers employment processing , performance improvement , benefits administration and other employment-related services .
beginning in late 2008 and continuing throughout 2009 , the disruption in the global credit markets and the deterioration of the financial markets has created significant uncertainty in the marketplace .
the prolonged economic downturn is adversely impacting our clients 2019 financial condition and the levels of business activities in the industries and geographies where we operate .
while we believe that the majority of our practices are well positioned to manage through this time , these challenges are reducing demand for some of our services and depressing the price of those services , which is having an adverse effect on our new business and results of operations. .
| 2,009
| 48
|
AON
|
Aon plc
|
Financials
|
Insurance Brokers
|
London, United Kingdom
|
1996-04-23
| 315,293
|
1982 (1919)
|
considering the year 2009 , what is the percentage of the segment's operating income among the total operating income?
|
22.55%
|
divide(203, 900)
|
of exiting a business in japan , economic weakness in asia and political unrest in thailand , partially offset by growth in new zealand and certain emerging markets .
reinsurance commissions , fees and other revenue increased 48% ( 48 % ) , due mainly to the benfield merger , partially offset by unfavorable foreign currency translation .
organic revenue is even with 2008 , as growth in domestic treaty business and slightly higher pricing was offset by greater client retention , and declines in investment banking and facultative placements .
operating income operating income increased $ 54 million or 6% ( 6 % ) from 2008 to $ 900 million in 2009 .
in 2009 , operating income margins in this segment were 14.3% ( 14.3 % ) , up 60 basis points from 13.7% ( 13.7 % ) in 2008 .
contributing to increased operating income and margins were the merger with benfield , lower e&o costs due to insurance recoveries , a pension curtailment gain of $ 54 million in 2009 versus a curtailment loss of $ 6 million in 2008 , declines in anti-corruption and compliance initiative costs of $ 35 million , restructuring savings , and other cost savings initiatives .
these items were partially offset by an increase of $ 140 million in restructuring costs , $ 95 million of lower fiduciary investment income , benfield integration costs and higher amortization of intangible assets obtained in the merger , and unfavorable foreign currency translation .
consulting .
|
our consulting segment generated 17% ( 17 % ) of our consolidated total revenues in 2009 and provides a broad range of human capital consulting services , as follows : consulting services : 1 .
health and benefits advises clients about how to structure , fund , and administer employee benefit programs that attract , retain , and motivate employees .
benefits consulting include health and welfare , executive benefits , workforce strategies and productivity , absence management , benefits administration , data-driven health , compliance , employee commitment , investment advisory and elective benefits services .
2 .
retirement specializes in global actuarial services , defined contribution consulting , investment consulting , tax and erisa consulting , and pension administration .
3 .
compensation focuses on compensatory advisory/counsel including : compensation planning design , executive reward strategies , salary survey and benchmarking , market share studies and sales force effectiveness , with special expertise in the financial services and technology industries .
4 .
strategic human capital delivers advice to complex global organizations on talent , change and organizational effectiveness issues , including talent strategy and acquisition , executive on-boarding , performance management , leadership assessment and development , communication strategy , workforce training and change management .
outsourcing offers employment processing , performance improvement , benefits administration and other employment-related services .
beginning in late 2008 and continuing throughout 2009 , the disruption in the global credit markets and the deterioration of the financial markets has created significant uncertainty in the marketplace .
the prolonged economic downturn is adversely impacting our clients 2019 financial condition and the levels of business activities in the industries and geographies where we operate .
while we believe that the majority of our practices are well positioned to manage through this time , these challenges are reducing demand for some of our services and depressing the price of those services , which is having an adverse effect on our new business and results of operations. .
|
| | years ended december 31, | 2009 | 2008 | 2007 |
|---:|:--------------------------------|:-----------------|:-----------------|:-----------------|
| 0 | segment revenue | $ 1267 | $ 1356 | $ 1345 |
| 1 | segment operating income | 203 | 208 | 180 |
| 2 | segment operating income margin | 16.0% ( 16.0 % ) | 15.3% ( 15.3 % ) | 13.4% ( 13.4 % ) |
|
of exiting a business in japan , economic weakness in asia and political unrest in thailand , partially offset by growth in new zealand and certain emerging markets .
reinsurance commissions , fees and other revenue increased 48% ( 48 % ) , due mainly to the benfield merger , partially offset by unfavorable foreign currency translation .
organic revenue is even with 2008 , as growth in domestic treaty business and slightly higher pricing was offset by greater client retention , and declines in investment banking and facultative placements .
operating income operating income increased $ 54 million or 6% ( 6 % ) from 2008 to $ 900 million in 2009 .
in 2009 , operating income margins in this segment were 14.3% ( 14.3 % ) , up 60 basis points from 13.7% ( 13.7 % ) in 2008 .
contributing to increased operating income and margins were the merger with benfield , lower e&o costs due to insurance recoveries , a pension curtailment gain of $ 54 million in 2009 versus a curtailment loss of $ 6 million in 2008 , declines in anti-corruption and compliance initiative costs of $ 35 million , restructuring savings , and other cost savings initiatives .
these items were partially offset by an increase of $ 140 million in restructuring costs , $ 95 million of lower fiduciary investment income , benfield integration costs and higher amortization of intangible assets obtained in the merger , and unfavorable foreign currency translation .
consulting ._| | years ended december 31, | 2009 | 2008 | 2007 |
|---:|:--------------------------------|:-----------------|:-----------------|:-----------------|
| 0 | segment revenue | $ 1267 | $ 1356 | $ 1345 |
| 1 | segment operating income | 203 | 208 | 180 |
| 2 | segment operating income margin | 16.0% ( 16.0 % ) | 15.3% ( 15.3 % ) | 13.4% ( 13.4 % ) |_our consulting segment generated 17% ( 17 % ) of our consolidated total revenues in 2009 and provides a broad range of human capital consulting services , as follows : consulting services : 1 .
health and benefits advises clients about how to structure , fund , and administer employee benefit programs that attract , retain , and motivate employees .
benefits consulting include health and welfare , executive benefits , workforce strategies and productivity , absence management , benefits administration , data-driven health , compliance , employee commitment , investment advisory and elective benefits services .
2 .
retirement specializes in global actuarial services , defined contribution consulting , investment consulting , tax and erisa consulting , and pension administration .
3 .
compensation focuses on compensatory advisory/counsel including : compensation planning design , executive reward strategies , salary survey and benchmarking , market share studies and sales force effectiveness , with special expertise in the financial services and technology industries .
4 .
strategic human capital delivers advice to complex global organizations on talent , change and organizational effectiveness issues , including talent strategy and acquisition , executive on-boarding , performance management , leadership assessment and development , communication strategy , workforce training and change management .
outsourcing offers employment processing , performance improvement , benefits administration and other employment-related services .
beginning in late 2008 and continuing throughout 2009 , the disruption in the global credit markets and the deterioration of the financial markets has created significant uncertainty in the marketplace .
the prolonged economic downturn is adversely impacting our clients 2019 financial condition and the levels of business activities in the industries and geographies where we operate .
while we believe that the majority of our practices are well positioned to manage through this time , these challenges are reducing demand for some of our services and depressing the price of those services , which is having an adverse effect on our new business and results of operations. .
| 2,009
| 48
|
AON
|
Aon plc
|
Financials
|
Insurance Brokers
|
London, United Kingdom
|
1996-04-23
| 315,293
|
1982 (1919)
| null | null |
finqa81
|
what was the percentage cumulative 5-year total return to shareholders of cadence design systems , inc . 2019s common stock for the period ended december 30 , 2006?
|
-20.04%
|
divide(subtract(79.96, const_100), const_100)
|
the following graph compares the cumulative 5-year total return to shareholders of cadence design systems , inc . 2019s common stock relative to the cumulative total returns of the s & p 500 index , the nasdaq composite index and the s & p information technology index .
the graph assumes that the value of the investment in the company 2019s common stock and in each of the indexes ( including reinvestment of dividends ) was $ 100 on december 29 , 2001 and tracks it through december 30 , 2006 .
comparison of 5 year cumulative total return* among cadence design systems , inc. , the s & p 500 index , the nasdaq composite index and the s & p information technology index 12/30/0612/31/051/1/051/3/0412/28/0212/29/01 cadence design systems , inc .
nasdaq composite s & p information technology s & p 500 * $ 100 invested on 12/29/01 in stock or on 12/31/01 in index-incuding reinvestment of dividends .
indexes calculated on month-end basis .
copyright b7 2007 , standard & poor 2019s , a division of the mcgraw-hill companies , inc .
all rights reserved .
www.researchdatagroup.com/s&p.htm december 29 , december 28 , january 3 , january 1 , december 31 , december 30 .
|
.
|
| | | december 29 2001 | december 28 2002 | january 3 2004 | january 1 2005 | december 31 2005 | december 30 2006 |
|---:|:-----------------------------|-------------------:|-------------------:|-----------------:|-----------------:|-------------------:|-------------------:|
| 0 | cadence design systems inc . | 100 | 54.38 | 81.52 | 61.65 | 75.54 | 79.96 |
| 1 | s & p 500 | 100 | 77.9 | 100.24 | 111.15 | 116.61 | 135.03 |
| 2 | nasdaq composite | 100 | 71.97 | 107.18 | 117.07 | 120.5 | 137.02 |
| 3 | s & p information technology | 100 | 62.59 | 92.14 | 94.5 | 95.44 | 103.47 |
|
the following graph compares the cumulative 5-year total return to shareholders of cadence design systems , inc . 2019s common stock relative to the cumulative total returns of the s & p 500 index , the nasdaq composite index and the s & p information technology index .
the graph assumes that the value of the investment in the company 2019s common stock and in each of the indexes ( including reinvestment of dividends ) was $ 100 on december 29 , 2001 and tracks it through december 30 , 2006 .
comparison of 5 year cumulative total return* among cadence design systems , inc. , the s & p 500 index , the nasdaq composite index and the s & p information technology index 12/30/0612/31/051/1/051/3/0412/28/0212/29/01 cadence design systems , inc .
nasdaq composite s & p information technology s & p 500 * $ 100 invested on 12/29/01 in stock or on 12/31/01 in index-incuding reinvestment of dividends .
indexes calculated on month-end basis .
copyright b7 2007 , standard & poor 2019s , a division of the mcgraw-hill companies , inc .
all rights reserved .
www.researchdatagroup.com/s&p.htm december 29 , december 28 , january 3 , january 1 , december 31 , december 30 ._| | | december 29 2001 | december 28 2002 | january 3 2004 | january 1 2005 | december 31 2005 | december 30 2006 |
|---:|:-----------------------------|-------------------:|-------------------:|-----------------:|-----------------:|-------------------:|-------------------:|
| 0 | cadence design systems inc . | 100 | 54.38 | 81.52 | 61.65 | 75.54 | 79.96 |
| 1 | s & p 500 | 100 | 77.9 | 100.24 | 111.15 | 116.61 | 135.03 |
| 2 | nasdaq composite | 100 | 71.97 | 107.18 | 117.07 | 120.5 | 137.02 |
| 3 | s & p information technology | 100 | 62.59 | 92.14 | 94.5 | 95.44 | 103.47 |_.
| 2,006
| 30
|
CDNS
|
Cadence Design Systems
|
Information Technology
|
Application Software
|
San Jose, California
|
2017-09-18
| 813,672
|
1988
|
what was the percentage cumulative 5-year total return to shareholders of cadence design systems , inc . 2019s common stock for the period ended december 30 , 2006?
|
-20.04%
|
divide(subtract(79.96, const_100), const_100)
|
the following graph compares the cumulative 5-year total return to shareholders of cadence design systems , inc . 2019s common stock relative to the cumulative total returns of the s & p 500 index , the nasdaq composite index and the s & p information technology index .
the graph assumes that the value of the investment in the company 2019s common stock and in each of the indexes ( including reinvestment of dividends ) was $ 100 on december 29 , 2001 and tracks it through december 30 , 2006 .
comparison of 5 year cumulative total return* among cadence design systems , inc. , the s & p 500 index , the nasdaq composite index and the s & p information technology index 12/30/0612/31/051/1/051/3/0412/28/0212/29/01 cadence design systems , inc .
nasdaq composite s & p information technology s & p 500 * $ 100 invested on 12/29/01 in stock or on 12/31/01 in index-incuding reinvestment of dividends .
indexes calculated on month-end basis .
copyright b7 2007 , standard & poor 2019s , a division of the mcgraw-hill companies , inc .
all rights reserved .
www.researchdatagroup.com/s&p.htm december 29 , december 28 , january 3 , january 1 , december 31 , december 30 .
|
.
|
| | | december 29 2001 | december 28 2002 | january 3 2004 | january 1 2005 | december 31 2005 | december 30 2006 |
|---:|:-----------------------------|-------------------:|-------------------:|-----------------:|-----------------:|-------------------:|-------------------:|
| 0 | cadence design systems inc . | 100 | 54.38 | 81.52 | 61.65 | 75.54 | 79.96 |
| 1 | s & p 500 | 100 | 77.9 | 100.24 | 111.15 | 116.61 | 135.03 |
| 2 | nasdaq composite | 100 | 71.97 | 107.18 | 117.07 | 120.5 | 137.02 |
| 3 | s & p information technology | 100 | 62.59 | 92.14 | 94.5 | 95.44 | 103.47 |
|
the following graph compares the cumulative 5-year total return to shareholders of cadence design systems , inc . 2019s common stock relative to the cumulative total returns of the s & p 500 index , the nasdaq composite index and the s & p information technology index .
the graph assumes that the value of the investment in the company 2019s common stock and in each of the indexes ( including reinvestment of dividends ) was $ 100 on december 29 , 2001 and tracks it through december 30 , 2006 .
comparison of 5 year cumulative total return* among cadence design systems , inc. , the s & p 500 index , the nasdaq composite index and the s & p information technology index 12/30/0612/31/051/1/051/3/0412/28/0212/29/01 cadence design systems , inc .
nasdaq composite s & p information technology s & p 500 * $ 100 invested on 12/29/01 in stock or on 12/31/01 in index-incuding reinvestment of dividends .
indexes calculated on month-end basis .
copyright b7 2007 , standard & poor 2019s , a division of the mcgraw-hill companies , inc .
all rights reserved .
www.researchdatagroup.com/s&p.htm december 29 , december 28 , january 3 , january 1 , december 31 , december 30 ._| | | december 29 2001 | december 28 2002 | january 3 2004 | january 1 2005 | december 31 2005 | december 30 2006 |
|---:|:-----------------------------|-------------------:|-------------------:|-----------------:|-----------------:|-------------------:|-------------------:|
| 0 | cadence design systems inc . | 100 | 54.38 | 81.52 | 61.65 | 75.54 | 79.96 |
| 1 | s & p 500 | 100 | 77.9 | 100.24 | 111.15 | 116.61 | 135.03 |
| 2 | nasdaq composite | 100 | 71.97 | 107.18 | 117.07 | 120.5 | 137.02 |
| 3 | s & p information technology | 100 | 62.59 | 92.14 | 94.5 | 95.44 | 103.47 |_.
| 2,006
| 30
|
CDNS
|
Cadence Design Systems
|
Information Technology
|
Application Software
|
San Jose, California
|
2017-09-18
| 813,672
|
1988
| null | null |
finqa82
|
what is the percent change in minimum annual rental payment between 2010 and 2011?
|
1.3%
|
divide(subtract(3200, 3160), 3160)
|
alexion pharmaceuticals , inc .
notes to consolidated financial statements 2014 ( continued ) for the years ended december 31 , 2007 and 2006 , five month period ended december 31 , 2005 , and year ended july 31 , 2005 ( amounts in thousands , except share and per share amounts ) aggregate future minimum annual rental payments for the next five years and thereafter under non-cancellable operating leases ( including facilities and equipment ) as of december 31 , 2007 are: .
|
9 .
commitments and contingencies legal proceedings on march 16 , 2007 , pdl biopharma , inc. , or pdl , filed a civil action against alexion in the u.s .
district court for the district of delaware .
pdl claims willful infringement by alexion of pdl patents due to sales of soliris .
pdl seeks unspecified damages , but no less than a reasonable royalty , plus attorney 2019s fees .
alexion has denied pdl's claims .
in addition , we filed counterclaims seeking declarations of non-infringement and invalidity of certain u.s .
patents held by pdl .
alexion believes it has good and valid defenses to pdl's claims and intends to vigorously defend the case and pursue its counterclaims .
on february 4 , 2008 , sb2 , inc .
filed a civil action against alexion in the united states district court for the northern district of california .
sb2 , inc .
claims willfull infringement by alexion of sb2 , inc .
patents due to sales of soliris .
sb2 , inc .
seeks unspecified monetary damages , equitable relief and attorneys fees .
alexion believes it has good and valid defenses to sb2's claims and intends to vigorously defend the case and pursue its counterclaims .
the results of such civil actions cannot be predicted with certainty due to their early stages .
however , depending on the outcome of these legal matters , the operating results of the company could be materially impacted through adjustments to cost of sales ( see notes 2 , 6 and 15 for additional information related to royalties ) .
product supply the large-scale product supply agreement dated december 18 , 2002 , or the lonza agreement , between lonza sales ag , or lonza , and us , relating to the manufacture of soliris , was amended in june 2007 .
we amended our supply agreement to provide for additional purchase commitments of soliris of $ 30000 to $ 35000 through 2013 .
such commitments may only be cancelled in limited circumstances. .
|
| | 2008 | $ 4935 |
|---:|:-----------|---------:|
| 0 | 2009 | 3144 |
| 1 | 2010 | 3160 |
| 2 | 2011 | 3200 |
| 3 | 2012 | 2768 |
| 4 | thereafter | 9934 |
|
alexion pharmaceuticals , inc .
notes to consolidated financial statements 2014 ( continued ) for the years ended december 31 , 2007 and 2006 , five month period ended december 31 , 2005 , and year ended july 31 , 2005 ( amounts in thousands , except share and per share amounts ) aggregate future minimum annual rental payments for the next five years and thereafter under non-cancellable operating leases ( including facilities and equipment ) as of december 31 , 2007 are: ._| | 2008 | $ 4935 |
|---:|:-----------|---------:|
| 0 | 2009 | 3144 |
| 1 | 2010 | 3160 |
| 2 | 2011 | 3200 |
| 3 | 2012 | 2768 |
| 4 | thereafter | 9934 |_9 .
commitments and contingencies legal proceedings on march 16 , 2007 , pdl biopharma , inc. , or pdl , filed a civil action against alexion in the u.s .
district court for the district of delaware .
pdl claims willful infringement by alexion of pdl patents due to sales of soliris .
pdl seeks unspecified damages , but no less than a reasonable royalty , plus attorney 2019s fees .
alexion has denied pdl's claims .
in addition , we filed counterclaims seeking declarations of non-infringement and invalidity of certain u.s .
patents held by pdl .
alexion believes it has good and valid defenses to pdl's claims and intends to vigorously defend the case and pursue its counterclaims .
on february 4 , 2008 , sb2 , inc .
filed a civil action against alexion in the united states district court for the northern district of california .
sb2 , inc .
claims willfull infringement by alexion of sb2 , inc .
patents due to sales of soliris .
sb2 , inc .
seeks unspecified monetary damages , equitable relief and attorneys fees .
alexion believes it has good and valid defenses to sb2's claims and intends to vigorously defend the case and pursue its counterclaims .
the results of such civil actions cannot be predicted with certainty due to their early stages .
however , depending on the outcome of these legal matters , the operating results of the company could be materially impacted through adjustments to cost of sales ( see notes 2 , 6 and 15 for additional information related to royalties ) .
product supply the large-scale product supply agreement dated december 18 , 2002 , or the lonza agreement , between lonza sales ag , or lonza , and us , relating to the manufacture of soliris , was amended in june 2007 .
we amended our supply agreement to provide for additional purchase commitments of soliris of $ 30000 to $ 35000 through 2013 .
such commitments may only be cancelled in limited circumstances. .
| 2,007
| 104
|
ALXN
|
Alexion Pharmaceuticals, Inc.
|
Healthcare
|
Biotechnology
|
Boston, MA
|
2012-01-01
| 899,866
|
1992
|
what is the percent change in minimum annual rental payment between 2010 and 2011?
|
1.3%
|
divide(subtract(3200, 3160), 3160)
|
alexion pharmaceuticals , inc .
notes to consolidated financial statements 2014 ( continued ) for the years ended december 31 , 2007 and 2006 , five month period ended december 31 , 2005 , and year ended july 31 , 2005 ( amounts in thousands , except share and per share amounts ) aggregate future minimum annual rental payments for the next five years and thereafter under non-cancellable operating leases ( including facilities and equipment ) as of december 31 , 2007 are: .
|
9 .
commitments and contingencies legal proceedings on march 16 , 2007 , pdl biopharma , inc. , or pdl , filed a civil action against alexion in the u.s .
district court for the district of delaware .
pdl claims willful infringement by alexion of pdl patents due to sales of soliris .
pdl seeks unspecified damages , but no less than a reasonable royalty , plus attorney 2019s fees .
alexion has denied pdl's claims .
in addition , we filed counterclaims seeking declarations of non-infringement and invalidity of certain u.s .
patents held by pdl .
alexion believes it has good and valid defenses to pdl's claims and intends to vigorously defend the case and pursue its counterclaims .
on february 4 , 2008 , sb2 , inc .
filed a civil action against alexion in the united states district court for the northern district of california .
sb2 , inc .
claims willfull infringement by alexion of sb2 , inc .
patents due to sales of soliris .
sb2 , inc .
seeks unspecified monetary damages , equitable relief and attorneys fees .
alexion believes it has good and valid defenses to sb2's claims and intends to vigorously defend the case and pursue its counterclaims .
the results of such civil actions cannot be predicted with certainty due to their early stages .
however , depending on the outcome of these legal matters , the operating results of the company could be materially impacted through adjustments to cost of sales ( see notes 2 , 6 and 15 for additional information related to royalties ) .
product supply the large-scale product supply agreement dated december 18 , 2002 , or the lonza agreement , between lonza sales ag , or lonza , and us , relating to the manufacture of soliris , was amended in june 2007 .
we amended our supply agreement to provide for additional purchase commitments of soliris of $ 30000 to $ 35000 through 2013 .
such commitments may only be cancelled in limited circumstances. .
|
| | 2008 | $ 4935 |
|---:|:-----------|---------:|
| 0 | 2009 | 3144 |
| 1 | 2010 | 3160 |
| 2 | 2011 | 3200 |
| 3 | 2012 | 2768 |
| 4 | thereafter | 9934 |
|
alexion pharmaceuticals , inc .
notes to consolidated financial statements 2014 ( continued ) for the years ended december 31 , 2007 and 2006 , five month period ended december 31 , 2005 , and year ended july 31 , 2005 ( amounts in thousands , except share and per share amounts ) aggregate future minimum annual rental payments for the next five years and thereafter under non-cancellable operating leases ( including facilities and equipment ) as of december 31 , 2007 are: ._| | 2008 | $ 4935 |
|---:|:-----------|---------:|
| 0 | 2009 | 3144 |
| 1 | 2010 | 3160 |
| 2 | 2011 | 3200 |
| 3 | 2012 | 2768 |
| 4 | thereafter | 9934 |_9 .
commitments and contingencies legal proceedings on march 16 , 2007 , pdl biopharma , inc. , or pdl , filed a civil action against alexion in the u.s .
district court for the district of delaware .
pdl claims willful infringement by alexion of pdl patents due to sales of soliris .
pdl seeks unspecified damages , but no less than a reasonable royalty , plus attorney 2019s fees .
alexion has denied pdl's claims .
in addition , we filed counterclaims seeking declarations of non-infringement and invalidity of certain u.s .
patents held by pdl .
alexion believes it has good and valid defenses to pdl's claims and intends to vigorously defend the case and pursue its counterclaims .
on february 4 , 2008 , sb2 , inc .
filed a civil action against alexion in the united states district court for the northern district of california .
sb2 , inc .
claims willfull infringement by alexion of sb2 , inc .
patents due to sales of soliris .
sb2 , inc .
seeks unspecified monetary damages , equitable relief and attorneys fees .
alexion believes it has good and valid defenses to sb2's claims and intends to vigorously defend the case and pursue its counterclaims .
the results of such civil actions cannot be predicted with certainty due to their early stages .
however , depending on the outcome of these legal matters , the operating results of the company could be materially impacted through adjustments to cost of sales ( see notes 2 , 6 and 15 for additional information related to royalties ) .
product supply the large-scale product supply agreement dated december 18 , 2002 , or the lonza agreement , between lonza sales ag , or lonza , and us , relating to the manufacture of soliris , was amended in june 2007 .
we amended our supply agreement to provide for additional purchase commitments of soliris of $ 30000 to $ 35000 through 2013 .
such commitments may only be cancelled in limited circumstances. .
| 2,007
| 104
|
ALXN
|
Alexion Pharmaceuticals, Inc.
|
Healthcare
|
Biotechnology
|
Boston, MA
|
2012-01-01
| 899,866
|
1992
| null | null |
finqa83
|
what was the percentage change in the unrecognized tax benefits from 2015 to 2016?
|
-1%
|
divide(subtract(369, 373), 373)
|
the aes corporation notes to consolidated financial statements 2014 ( continued ) december 31 , 2016 , 2015 , and 2014 the following is a reconciliation of the beginning and ending amounts of unrecognized tax benefits for the periods indicated ( in millions ) : .
|
the company and certain of its subsidiaries are currently under examination by the relevant taxing authorities for various tax years .
the company regularly assesses the potential outcome of these examinations in each of the taxing jurisdictions when determining the adequacy of the amount of unrecognized tax benefit recorded .
while it is often difficult to predict the final outcome or the timing of resolution of any particular uncertain tax position , we believe we have appropriately accrued for our uncertain tax benefits .
however , audit outcomes and the timing of audit settlements and future events that would impact our previously recorded unrecognized tax benefits and the range of anticipated increases or decreases in unrecognized tax benefits are subject to significant uncertainty .
it is possible that the ultimate outcome of current or future examinations may exceed our provision for current unrecognized tax benefits in amounts that could be material , but cannot be estimated as of december 31 , 2016 .
our effective tax rate and net income in any given future period could therefore be materially impacted .
22 .
discontinued operations brazil distribution 2014 due to a portfolio evaluation in the first half of 2016 , management has decided to pursue a strategic shift of its distribution companies in brazil , aes sul and eletropaulo .
the disposal of sul was completed in october 2016 .
in december 2016 , eletropaulo underwent a corporate restructuring which is expected to , among other things , provide more liquidity of its shares .
aes is continuing to pursue strategic options for eletropaulo in order to complete its strategic shift to reduce aes 2019 exposure to the brazilian distribution business , including preparation for listing its shares into the novo mercado , which is a listing segment of the brazilian stock exchange with the highest standards of corporate governance .
the company executed an agreement for the sale of its wholly-owned subsidiary aes sul in june 2016 .
we have reported the results of operations and financial position of aes sul as discontinued operations in the consolidated financial statements for all periods presented .
upon meeting the held-for-sale criteria , the company recognized an after tax loss of $ 382 million comprised of a pretax impairment charge of $ 783 million , offset by a tax benefit of $ 266 million related to the impairment of the sul long lived assets and a tax benefit of $ 135 million for deferred taxes related to the investment in aes sul .
prior to the impairment charge in the second quarter , the carrying value of the aes sul asset group of $ 1.6 billion was greater than its approximate fair value less costs to sell .
however , the impairment charge was limited to the carrying value of the long lived assets of the aes sul disposal group .
on october 31 , 2016 , the company completed the sale of aes sul and received final proceeds less costs to sell of $ 484 million , excluding contingent consideration .
upon disposal of aes sul , we incurred an additional after- tax loss on sale of $ 737 million .
the cumulative impact to earnings of the impairment and loss on sale was $ 1.1 billion .
this includes the reclassification of approximately $ 1 billion of cumulative translation losses , resulting in a net reduction to the company 2019s stockholders 2019 equity of $ 92 million .
sul 2019s pretax loss attributable to aes for the years ended december 31 , 2016 and 2015 was $ 1.4 billion and $ 32 million , respectively .
sul 2019s pretax gain attributable to aes for the year ended december 31 , 2014 was $ 133 million .
prior to its classification as discontinued operations , sul was reported in the brazil sbu reportable segment .
as discussed in note 1 2014general and summary of significant accounting policies , effective july 1 , 2014 , the company prospectively adopted asu no .
2014-08 .
discontinued operations prior to adoption of asu no .
2014-08 include the results of cameroon , saurashtra and various u.s .
wind projects which were each sold in the first half of cameroon 2014 in september 2013 , the company executed agreements for the sale of its 56% ( 56 % ) equity interests in businesses in cameroon : sonel , an integrated utility , kribi , a gas and light fuel oil plant , and dibamba , a heavy .
|
| | december 31, | 2016 | 2015 | 2014 |
|---:|:--------------------------------------------|:-----------|:-----------|:-----------|
| 0 | balance at january 1 | $ 373 | $ 394 | $ 392 |
| 1 | additions for current year tax positions | 8 | 7 | 7 |
| 2 | additions for tax positions of prior years | 1 | 12 | 14 |
| 3 | reductions for tax positions of prior years | -1 ( 1 ) | -7 ( 7 ) | -2 ( 2 ) |
| 4 | effects of foreign currency translation | 2 | -7 ( 7 ) | -3 ( 3 ) |
| 5 | settlements | -13 ( 13 ) | -19 ( 19 ) | -2 ( 2 ) |
| 6 | lapse of statute of limitations | -1 ( 1 ) | -7 ( 7 ) | -12 ( 12 ) |
| 7 | balance at december 31 | $ 369 | $ 373 | $ 394 |
|
the aes corporation notes to consolidated financial statements 2014 ( continued ) december 31 , 2016 , 2015 , and 2014 the following is a reconciliation of the beginning and ending amounts of unrecognized tax benefits for the periods indicated ( in millions ) : ._| | december 31, | 2016 | 2015 | 2014 |
|---:|:--------------------------------------------|:-----------|:-----------|:-----------|
| 0 | balance at january 1 | $ 373 | $ 394 | $ 392 |
| 1 | additions for current year tax positions | 8 | 7 | 7 |
| 2 | additions for tax positions of prior years | 1 | 12 | 14 |
| 3 | reductions for tax positions of prior years | -1 ( 1 ) | -7 ( 7 ) | -2 ( 2 ) |
| 4 | effects of foreign currency translation | 2 | -7 ( 7 ) | -3 ( 3 ) |
| 5 | settlements | -13 ( 13 ) | -19 ( 19 ) | -2 ( 2 ) |
| 6 | lapse of statute of limitations | -1 ( 1 ) | -7 ( 7 ) | -12 ( 12 ) |
| 7 | balance at december 31 | $ 369 | $ 373 | $ 394 |_the company and certain of its subsidiaries are currently under examination by the relevant taxing authorities for various tax years .
the company regularly assesses the potential outcome of these examinations in each of the taxing jurisdictions when determining the adequacy of the amount of unrecognized tax benefit recorded .
while it is often difficult to predict the final outcome or the timing of resolution of any particular uncertain tax position , we believe we have appropriately accrued for our uncertain tax benefits .
however , audit outcomes and the timing of audit settlements and future events that would impact our previously recorded unrecognized tax benefits and the range of anticipated increases or decreases in unrecognized tax benefits are subject to significant uncertainty .
it is possible that the ultimate outcome of current or future examinations may exceed our provision for current unrecognized tax benefits in amounts that could be material , but cannot be estimated as of december 31 , 2016 .
our effective tax rate and net income in any given future period could therefore be materially impacted .
22 .
discontinued operations brazil distribution 2014 due to a portfolio evaluation in the first half of 2016 , management has decided to pursue a strategic shift of its distribution companies in brazil , aes sul and eletropaulo .
the disposal of sul was completed in october 2016 .
in december 2016 , eletropaulo underwent a corporate restructuring which is expected to , among other things , provide more liquidity of its shares .
aes is continuing to pursue strategic options for eletropaulo in order to complete its strategic shift to reduce aes 2019 exposure to the brazilian distribution business , including preparation for listing its shares into the novo mercado , which is a listing segment of the brazilian stock exchange with the highest standards of corporate governance .
the company executed an agreement for the sale of its wholly-owned subsidiary aes sul in june 2016 .
we have reported the results of operations and financial position of aes sul as discontinued operations in the consolidated financial statements for all periods presented .
upon meeting the held-for-sale criteria , the company recognized an after tax loss of $ 382 million comprised of a pretax impairment charge of $ 783 million , offset by a tax benefit of $ 266 million related to the impairment of the sul long lived assets and a tax benefit of $ 135 million for deferred taxes related to the investment in aes sul .
prior to the impairment charge in the second quarter , the carrying value of the aes sul asset group of $ 1.6 billion was greater than its approximate fair value less costs to sell .
however , the impairment charge was limited to the carrying value of the long lived assets of the aes sul disposal group .
on october 31 , 2016 , the company completed the sale of aes sul and received final proceeds less costs to sell of $ 484 million , excluding contingent consideration .
upon disposal of aes sul , we incurred an additional after- tax loss on sale of $ 737 million .
the cumulative impact to earnings of the impairment and loss on sale was $ 1.1 billion .
this includes the reclassification of approximately $ 1 billion of cumulative translation losses , resulting in a net reduction to the company 2019s stockholders 2019 equity of $ 92 million .
sul 2019s pretax loss attributable to aes for the years ended december 31 , 2016 and 2015 was $ 1.4 billion and $ 32 million , respectively .
sul 2019s pretax gain attributable to aes for the year ended december 31 , 2014 was $ 133 million .
prior to its classification as discontinued operations , sul was reported in the brazil sbu reportable segment .
as discussed in note 1 2014general and summary of significant accounting policies , effective july 1 , 2014 , the company prospectively adopted asu no .
2014-08 .
discontinued operations prior to adoption of asu no .
2014-08 include the results of cameroon , saurashtra and various u.s .
wind projects which were each sold in the first half of cameroon 2014 in september 2013 , the company executed agreements for the sale of its 56% ( 56 % ) equity interests in businesses in cameroon : sonel , an integrated utility , kribi , a gas and light fuel oil plant , and dibamba , a heavy .
| 2,016
| 191
|
AES
|
AES Corporation
|
Utilities
|
Independent Power Producers & Energy Traders
|
Arlington, Virginia
|
1998-10-02
| 874,761
|
1981
|
what was the percentage change in the unrecognized tax benefits from 2015 to 2016?
|
-1%
|
divide(subtract(369, 373), 373)
|
the aes corporation notes to consolidated financial statements 2014 ( continued ) december 31 , 2016 , 2015 , and 2014 the following is a reconciliation of the beginning and ending amounts of unrecognized tax benefits for the periods indicated ( in millions ) : .
|
the company and certain of its subsidiaries are currently under examination by the relevant taxing authorities for various tax years .
the company regularly assesses the potential outcome of these examinations in each of the taxing jurisdictions when determining the adequacy of the amount of unrecognized tax benefit recorded .
while it is often difficult to predict the final outcome or the timing of resolution of any particular uncertain tax position , we believe we have appropriately accrued for our uncertain tax benefits .
however , audit outcomes and the timing of audit settlements and future events that would impact our previously recorded unrecognized tax benefits and the range of anticipated increases or decreases in unrecognized tax benefits are subject to significant uncertainty .
it is possible that the ultimate outcome of current or future examinations may exceed our provision for current unrecognized tax benefits in amounts that could be material , but cannot be estimated as of december 31 , 2016 .
our effective tax rate and net income in any given future period could therefore be materially impacted .
22 .
discontinued operations brazil distribution 2014 due to a portfolio evaluation in the first half of 2016 , management has decided to pursue a strategic shift of its distribution companies in brazil , aes sul and eletropaulo .
the disposal of sul was completed in october 2016 .
in december 2016 , eletropaulo underwent a corporate restructuring which is expected to , among other things , provide more liquidity of its shares .
aes is continuing to pursue strategic options for eletropaulo in order to complete its strategic shift to reduce aes 2019 exposure to the brazilian distribution business , including preparation for listing its shares into the novo mercado , which is a listing segment of the brazilian stock exchange with the highest standards of corporate governance .
the company executed an agreement for the sale of its wholly-owned subsidiary aes sul in june 2016 .
we have reported the results of operations and financial position of aes sul as discontinued operations in the consolidated financial statements for all periods presented .
upon meeting the held-for-sale criteria , the company recognized an after tax loss of $ 382 million comprised of a pretax impairment charge of $ 783 million , offset by a tax benefit of $ 266 million related to the impairment of the sul long lived assets and a tax benefit of $ 135 million for deferred taxes related to the investment in aes sul .
prior to the impairment charge in the second quarter , the carrying value of the aes sul asset group of $ 1.6 billion was greater than its approximate fair value less costs to sell .
however , the impairment charge was limited to the carrying value of the long lived assets of the aes sul disposal group .
on october 31 , 2016 , the company completed the sale of aes sul and received final proceeds less costs to sell of $ 484 million , excluding contingent consideration .
upon disposal of aes sul , we incurred an additional after- tax loss on sale of $ 737 million .
the cumulative impact to earnings of the impairment and loss on sale was $ 1.1 billion .
this includes the reclassification of approximately $ 1 billion of cumulative translation losses , resulting in a net reduction to the company 2019s stockholders 2019 equity of $ 92 million .
sul 2019s pretax loss attributable to aes for the years ended december 31 , 2016 and 2015 was $ 1.4 billion and $ 32 million , respectively .
sul 2019s pretax gain attributable to aes for the year ended december 31 , 2014 was $ 133 million .
prior to its classification as discontinued operations , sul was reported in the brazil sbu reportable segment .
as discussed in note 1 2014general and summary of significant accounting policies , effective july 1 , 2014 , the company prospectively adopted asu no .
2014-08 .
discontinued operations prior to adoption of asu no .
2014-08 include the results of cameroon , saurashtra and various u.s .
wind projects which were each sold in the first half of cameroon 2014 in september 2013 , the company executed agreements for the sale of its 56% ( 56 % ) equity interests in businesses in cameroon : sonel , an integrated utility , kribi , a gas and light fuel oil plant , and dibamba , a heavy .
|
| | december 31, | 2016 | 2015 | 2014 |
|---:|:--------------------------------------------|:-----------|:-----------|:-----------|
| 0 | balance at january 1 | $ 373 | $ 394 | $ 392 |
| 1 | additions for current year tax positions | 8 | 7 | 7 |
| 2 | additions for tax positions of prior years | 1 | 12 | 14 |
| 3 | reductions for tax positions of prior years | -1 ( 1 ) | -7 ( 7 ) | -2 ( 2 ) |
| 4 | effects of foreign currency translation | 2 | -7 ( 7 ) | -3 ( 3 ) |
| 5 | settlements | -13 ( 13 ) | -19 ( 19 ) | -2 ( 2 ) |
| 6 | lapse of statute of limitations | -1 ( 1 ) | -7 ( 7 ) | -12 ( 12 ) |
| 7 | balance at december 31 | $ 369 | $ 373 | $ 394 |
|
the aes corporation notes to consolidated financial statements 2014 ( continued ) december 31 , 2016 , 2015 , and 2014 the following is a reconciliation of the beginning and ending amounts of unrecognized tax benefits for the periods indicated ( in millions ) : ._| | december 31, | 2016 | 2015 | 2014 |
|---:|:--------------------------------------------|:-----------|:-----------|:-----------|
| 0 | balance at january 1 | $ 373 | $ 394 | $ 392 |
| 1 | additions for current year tax positions | 8 | 7 | 7 |
| 2 | additions for tax positions of prior years | 1 | 12 | 14 |
| 3 | reductions for tax positions of prior years | -1 ( 1 ) | -7 ( 7 ) | -2 ( 2 ) |
| 4 | effects of foreign currency translation | 2 | -7 ( 7 ) | -3 ( 3 ) |
| 5 | settlements | -13 ( 13 ) | -19 ( 19 ) | -2 ( 2 ) |
| 6 | lapse of statute of limitations | -1 ( 1 ) | -7 ( 7 ) | -12 ( 12 ) |
| 7 | balance at december 31 | $ 369 | $ 373 | $ 394 |_the company and certain of its subsidiaries are currently under examination by the relevant taxing authorities for various tax years .
the company regularly assesses the potential outcome of these examinations in each of the taxing jurisdictions when determining the adequacy of the amount of unrecognized tax benefit recorded .
while it is often difficult to predict the final outcome or the timing of resolution of any particular uncertain tax position , we believe we have appropriately accrued for our uncertain tax benefits .
however , audit outcomes and the timing of audit settlements and future events that would impact our previously recorded unrecognized tax benefits and the range of anticipated increases or decreases in unrecognized tax benefits are subject to significant uncertainty .
it is possible that the ultimate outcome of current or future examinations may exceed our provision for current unrecognized tax benefits in amounts that could be material , but cannot be estimated as of december 31 , 2016 .
our effective tax rate and net income in any given future period could therefore be materially impacted .
22 .
discontinued operations brazil distribution 2014 due to a portfolio evaluation in the first half of 2016 , management has decided to pursue a strategic shift of its distribution companies in brazil , aes sul and eletropaulo .
the disposal of sul was completed in october 2016 .
in december 2016 , eletropaulo underwent a corporate restructuring which is expected to , among other things , provide more liquidity of its shares .
aes is continuing to pursue strategic options for eletropaulo in order to complete its strategic shift to reduce aes 2019 exposure to the brazilian distribution business , including preparation for listing its shares into the novo mercado , which is a listing segment of the brazilian stock exchange with the highest standards of corporate governance .
the company executed an agreement for the sale of its wholly-owned subsidiary aes sul in june 2016 .
we have reported the results of operations and financial position of aes sul as discontinued operations in the consolidated financial statements for all periods presented .
upon meeting the held-for-sale criteria , the company recognized an after tax loss of $ 382 million comprised of a pretax impairment charge of $ 783 million , offset by a tax benefit of $ 266 million related to the impairment of the sul long lived assets and a tax benefit of $ 135 million for deferred taxes related to the investment in aes sul .
prior to the impairment charge in the second quarter , the carrying value of the aes sul asset group of $ 1.6 billion was greater than its approximate fair value less costs to sell .
however , the impairment charge was limited to the carrying value of the long lived assets of the aes sul disposal group .
on october 31 , 2016 , the company completed the sale of aes sul and received final proceeds less costs to sell of $ 484 million , excluding contingent consideration .
upon disposal of aes sul , we incurred an additional after- tax loss on sale of $ 737 million .
the cumulative impact to earnings of the impairment and loss on sale was $ 1.1 billion .
this includes the reclassification of approximately $ 1 billion of cumulative translation losses , resulting in a net reduction to the company 2019s stockholders 2019 equity of $ 92 million .
sul 2019s pretax loss attributable to aes for the years ended december 31 , 2016 and 2015 was $ 1.4 billion and $ 32 million , respectively .
sul 2019s pretax gain attributable to aes for the year ended december 31 , 2014 was $ 133 million .
prior to its classification as discontinued operations , sul was reported in the brazil sbu reportable segment .
as discussed in note 1 2014general and summary of significant accounting policies , effective july 1 , 2014 , the company prospectively adopted asu no .
2014-08 .
discontinued operations prior to adoption of asu no .
2014-08 include the results of cameroon , saurashtra and various u.s .
wind projects which were each sold in the first half of cameroon 2014 in september 2013 , the company executed agreements for the sale of its 56% ( 56 % ) equity interests in businesses in cameroon : sonel , an integrated utility , kribi , a gas and light fuel oil plant , and dibamba , a heavy .
| 2,016
| 191
|
AES
|
AES Corporation
|
Utilities
|
Independent Power Producers & Energy Traders
|
Arlington, Virginia
|
1998-10-02
| 874,761
|
1981
| null | null |
finqa84
|
what was the average potential anti-dilutive share conversions from 2008 to 2010
|
708716.6
|
divide(add(add(638401, add(256868, 1230881)), const_3), const_2)
|
n o t e s t o t h e c o n s o l i d a t e d f i n a n c i a l s t a t e m e n t s 2013 ( continued ) ace limited and subsidiaries excluded from adjusted weighted-average shares outstanding and assumed conversions is the impact of securities that would have been anti-dilutive during the respective years .
for the years ended december 31 , 2010 , 2009 , and 2008 , the potential anti-dilutive share conversions were 256868 shares , 1230881 shares , and 638401 shares , respectively .
19 .
related party transactions the ace foundation 2013 bermuda is an unconsolidated not-for-profit organization whose primary purpose is to fund charitable causes in bermuda .
the trustees are principally comprised of ace management .
the company maintains a non-interest bear- ing demand note receivable from the ace foundation 2013 bermuda , the balance of which was $ 30 million and $ 31 million , at december 31 , 2010 and 2009 , respectively .
the receivable is included in other assets in the accompanying consolidated balance sheets .
the borrower has used the related proceeds to finance investments in bermuda real estate , some of which have been rented to ace employees at rates established by independent , professional real estate appraisers .
the borrower uses income from the investments to both repay the note and to fund charitable activities .
accordingly , the company reports the demand note at the lower of its principal value or the fair value of assets held by the borrower to repay the loan , including the real estate properties .
20 .
statutory financial information the company 2019s insurance and reinsurance subsidiaries are subject to insurance laws and regulations in the jurisdictions in which they operate .
these regulations include restrictions that limit the amount of dividends or other distributions , such as loans or cash advances , available to shareholders without prior approval of the insurance regulatory authorities .
there are no statutory restrictions on the payment of dividends from retained earnings by any of the bermuda subsidiaries as the minimum statutory capital and surplus requirements are satisfied by the share capital and additional paid-in capital of each of the bermuda subsidiaries .
the company 2019s u.s .
subsidiaries file financial statements prepared in accordance with statutory accounting practices prescribed or permitted by insurance regulators .
statutory accounting differs from gaap in the reporting of certain reinsurance contracts , investments , subsidiaries , acquis- ition expenses , fixed assets , deferred income taxes , and certain other items .
the statutory capital and surplus of the u.s .
subsidiaries met regulatory requirements for 2010 , 2009 , and 2008 .
the amount of dividends available to be paid in 2011 , without prior approval from the state insurance departments , totals $ 850 million .
the following table presents the combined statutory capital and surplus and statutory net income of the bermuda and u.s .
subsidiaries at and for the years ended december 31 , 2010 , 2009 , and 2008. .
|
as permitted by the restructuring discussed previously in note 7 , certain of the company 2019s u.s .
subsidiaries discount certain a&e liabilities , which increased statutory capital and surplus by approximately $ 206 million , $ 215 million , and $ 211 million at december 31 , 2010 , 2009 , and 2008 , respectively .
the company 2019s international subsidiaries prepare statutory financial statements based on local laws and regulations .
some jurisdictions impose complex regulatory requirements on insurance companies while other jurisdictions impose fewer requirements .
in some countries , the company must obtain licenses issued by governmental authorities to conduct local insurance business .
these licenses may be subject to reserves and minimum capital and solvency tests .
jurisdictions may impose fines , censure , and/or criminal sanctions for violation of regulatory requirements. .
|
| | ( in millions of u.s . dollars ) | bermuda subsidiaries 2010 | bermuda subsidiaries 2009 | bermuda subsidiaries 2008 | bermuda subsidiaries 2010 | bermuda subsidiaries 2009 | 2008 |
|---:|:-----------------------------------|:----------------------------|:----------------------------|:----------------------------|:----------------------------|:----------------------------|:-------|
| 0 | statutory capital and surplus | $ 11798 | $ 9164 | $ 6205 | $ 6266 | $ 5885 | $ 5368 |
| 1 | statutory net income | $ 2430 | $ 2369 | $ 2196 | $ 1047 | $ 904 | $ 818 |
|
n o t e s t o t h e c o n s o l i d a t e d f i n a n c i a l s t a t e m e n t s 2013 ( continued ) ace limited and subsidiaries excluded from adjusted weighted-average shares outstanding and assumed conversions is the impact of securities that would have been anti-dilutive during the respective years .
for the years ended december 31 , 2010 , 2009 , and 2008 , the potential anti-dilutive share conversions were 256868 shares , 1230881 shares , and 638401 shares , respectively .
19 .
related party transactions the ace foundation 2013 bermuda is an unconsolidated not-for-profit organization whose primary purpose is to fund charitable causes in bermuda .
the trustees are principally comprised of ace management .
the company maintains a non-interest bear- ing demand note receivable from the ace foundation 2013 bermuda , the balance of which was $ 30 million and $ 31 million , at december 31 , 2010 and 2009 , respectively .
the receivable is included in other assets in the accompanying consolidated balance sheets .
the borrower has used the related proceeds to finance investments in bermuda real estate , some of which have been rented to ace employees at rates established by independent , professional real estate appraisers .
the borrower uses income from the investments to both repay the note and to fund charitable activities .
accordingly , the company reports the demand note at the lower of its principal value or the fair value of assets held by the borrower to repay the loan , including the real estate properties .
20 .
statutory financial information the company 2019s insurance and reinsurance subsidiaries are subject to insurance laws and regulations in the jurisdictions in which they operate .
these regulations include restrictions that limit the amount of dividends or other distributions , such as loans or cash advances , available to shareholders without prior approval of the insurance regulatory authorities .
there are no statutory restrictions on the payment of dividends from retained earnings by any of the bermuda subsidiaries as the minimum statutory capital and surplus requirements are satisfied by the share capital and additional paid-in capital of each of the bermuda subsidiaries .
the company 2019s u.s .
subsidiaries file financial statements prepared in accordance with statutory accounting practices prescribed or permitted by insurance regulators .
statutory accounting differs from gaap in the reporting of certain reinsurance contracts , investments , subsidiaries , acquis- ition expenses , fixed assets , deferred income taxes , and certain other items .
the statutory capital and surplus of the u.s .
subsidiaries met regulatory requirements for 2010 , 2009 , and 2008 .
the amount of dividends available to be paid in 2011 , without prior approval from the state insurance departments , totals $ 850 million .
the following table presents the combined statutory capital and surplus and statutory net income of the bermuda and u.s .
subsidiaries at and for the years ended december 31 , 2010 , 2009 , and 2008. ._| | ( in millions of u.s . dollars ) | bermuda subsidiaries 2010 | bermuda subsidiaries 2009 | bermuda subsidiaries 2008 | bermuda subsidiaries 2010 | bermuda subsidiaries 2009 | 2008 |
|---:|:-----------------------------------|:----------------------------|:----------------------------|:----------------------------|:----------------------------|:----------------------------|:-------|
| 0 | statutory capital and surplus | $ 11798 | $ 9164 | $ 6205 | $ 6266 | $ 5885 | $ 5368 |
| 1 | statutory net income | $ 2430 | $ 2369 | $ 2196 | $ 1047 | $ 904 | $ 818 |_as permitted by the restructuring discussed previously in note 7 , certain of the company 2019s u.s .
subsidiaries discount certain a&e liabilities , which increased statutory capital and surplus by approximately $ 206 million , $ 215 million , and $ 211 million at december 31 , 2010 , 2009 , and 2008 , respectively .
the company 2019s international subsidiaries prepare statutory financial statements based on local laws and regulations .
some jurisdictions impose complex regulatory requirements on insurance companies while other jurisdictions impose fewer requirements .
in some countries , the company must obtain licenses issued by governmental authorities to conduct local insurance business .
these licenses may be subject to reserves and minimum capital and solvency tests .
jurisdictions may impose fines , censure , and/or criminal sanctions for violation of regulatory requirements. .
| 2,010
| 200
|
CB
|
Chubb Limited
|
Financials
|
Property & Casualty Insurance
|
Zurich, Switzerland
|
2010-07-15
| 896,159
|
1985
|
what was the average potential anti-dilutive share conversions from 2008 to 2010
|
708716.6
|
divide(add(add(638401, add(256868, 1230881)), const_3), const_2)
|
n o t e s t o t h e c o n s o l i d a t e d f i n a n c i a l s t a t e m e n t s 2013 ( continued ) ace limited and subsidiaries excluded from adjusted weighted-average shares outstanding and assumed conversions is the impact of securities that would have been anti-dilutive during the respective years .
for the years ended december 31 , 2010 , 2009 , and 2008 , the potential anti-dilutive share conversions were 256868 shares , 1230881 shares , and 638401 shares , respectively .
19 .
related party transactions the ace foundation 2013 bermuda is an unconsolidated not-for-profit organization whose primary purpose is to fund charitable causes in bermuda .
the trustees are principally comprised of ace management .
the company maintains a non-interest bear- ing demand note receivable from the ace foundation 2013 bermuda , the balance of which was $ 30 million and $ 31 million , at december 31 , 2010 and 2009 , respectively .
the receivable is included in other assets in the accompanying consolidated balance sheets .
the borrower has used the related proceeds to finance investments in bermuda real estate , some of which have been rented to ace employees at rates established by independent , professional real estate appraisers .
the borrower uses income from the investments to both repay the note and to fund charitable activities .
accordingly , the company reports the demand note at the lower of its principal value or the fair value of assets held by the borrower to repay the loan , including the real estate properties .
20 .
statutory financial information the company 2019s insurance and reinsurance subsidiaries are subject to insurance laws and regulations in the jurisdictions in which they operate .
these regulations include restrictions that limit the amount of dividends or other distributions , such as loans or cash advances , available to shareholders without prior approval of the insurance regulatory authorities .
there are no statutory restrictions on the payment of dividends from retained earnings by any of the bermuda subsidiaries as the minimum statutory capital and surplus requirements are satisfied by the share capital and additional paid-in capital of each of the bermuda subsidiaries .
the company 2019s u.s .
subsidiaries file financial statements prepared in accordance with statutory accounting practices prescribed or permitted by insurance regulators .
statutory accounting differs from gaap in the reporting of certain reinsurance contracts , investments , subsidiaries , acquis- ition expenses , fixed assets , deferred income taxes , and certain other items .
the statutory capital and surplus of the u.s .
subsidiaries met regulatory requirements for 2010 , 2009 , and 2008 .
the amount of dividends available to be paid in 2011 , without prior approval from the state insurance departments , totals $ 850 million .
the following table presents the combined statutory capital and surplus and statutory net income of the bermuda and u.s .
subsidiaries at and for the years ended december 31 , 2010 , 2009 , and 2008. .
|
as permitted by the restructuring discussed previously in note 7 , certain of the company 2019s u.s .
subsidiaries discount certain a&e liabilities , which increased statutory capital and surplus by approximately $ 206 million , $ 215 million , and $ 211 million at december 31 , 2010 , 2009 , and 2008 , respectively .
the company 2019s international subsidiaries prepare statutory financial statements based on local laws and regulations .
some jurisdictions impose complex regulatory requirements on insurance companies while other jurisdictions impose fewer requirements .
in some countries , the company must obtain licenses issued by governmental authorities to conduct local insurance business .
these licenses may be subject to reserves and minimum capital and solvency tests .
jurisdictions may impose fines , censure , and/or criminal sanctions for violation of regulatory requirements. .
|
| | ( in millions of u.s . dollars ) | bermuda subsidiaries 2010 | bermuda subsidiaries 2009 | bermuda subsidiaries 2008 | bermuda subsidiaries 2010 | bermuda subsidiaries 2009 | 2008 |
|---:|:-----------------------------------|:----------------------------|:----------------------------|:----------------------------|:----------------------------|:----------------------------|:-------|
| 0 | statutory capital and surplus | $ 11798 | $ 9164 | $ 6205 | $ 6266 | $ 5885 | $ 5368 |
| 1 | statutory net income | $ 2430 | $ 2369 | $ 2196 | $ 1047 | $ 904 | $ 818 |
|
n o t e s t o t h e c o n s o l i d a t e d f i n a n c i a l s t a t e m e n t s 2013 ( continued ) ace limited and subsidiaries excluded from adjusted weighted-average shares outstanding and assumed conversions is the impact of securities that would have been anti-dilutive during the respective years .
for the years ended december 31 , 2010 , 2009 , and 2008 , the potential anti-dilutive share conversions were 256868 shares , 1230881 shares , and 638401 shares , respectively .
19 .
related party transactions the ace foundation 2013 bermuda is an unconsolidated not-for-profit organization whose primary purpose is to fund charitable causes in bermuda .
the trustees are principally comprised of ace management .
the company maintains a non-interest bear- ing demand note receivable from the ace foundation 2013 bermuda , the balance of which was $ 30 million and $ 31 million , at december 31 , 2010 and 2009 , respectively .
the receivable is included in other assets in the accompanying consolidated balance sheets .
the borrower has used the related proceeds to finance investments in bermuda real estate , some of which have been rented to ace employees at rates established by independent , professional real estate appraisers .
the borrower uses income from the investments to both repay the note and to fund charitable activities .
accordingly , the company reports the demand note at the lower of its principal value or the fair value of assets held by the borrower to repay the loan , including the real estate properties .
20 .
statutory financial information the company 2019s insurance and reinsurance subsidiaries are subject to insurance laws and regulations in the jurisdictions in which they operate .
these regulations include restrictions that limit the amount of dividends or other distributions , such as loans or cash advances , available to shareholders without prior approval of the insurance regulatory authorities .
there are no statutory restrictions on the payment of dividends from retained earnings by any of the bermuda subsidiaries as the minimum statutory capital and surplus requirements are satisfied by the share capital and additional paid-in capital of each of the bermuda subsidiaries .
the company 2019s u.s .
subsidiaries file financial statements prepared in accordance with statutory accounting practices prescribed or permitted by insurance regulators .
statutory accounting differs from gaap in the reporting of certain reinsurance contracts , investments , subsidiaries , acquis- ition expenses , fixed assets , deferred income taxes , and certain other items .
the statutory capital and surplus of the u.s .
subsidiaries met regulatory requirements for 2010 , 2009 , and 2008 .
the amount of dividends available to be paid in 2011 , without prior approval from the state insurance departments , totals $ 850 million .
the following table presents the combined statutory capital and surplus and statutory net income of the bermuda and u.s .
subsidiaries at and for the years ended december 31 , 2010 , 2009 , and 2008. ._| | ( in millions of u.s . dollars ) | bermuda subsidiaries 2010 | bermuda subsidiaries 2009 | bermuda subsidiaries 2008 | bermuda subsidiaries 2010 | bermuda subsidiaries 2009 | 2008 |
|---:|:-----------------------------------|:----------------------------|:----------------------------|:----------------------------|:----------------------------|:----------------------------|:-------|
| 0 | statutory capital and surplus | $ 11798 | $ 9164 | $ 6205 | $ 6266 | $ 5885 | $ 5368 |
| 1 | statutory net income | $ 2430 | $ 2369 | $ 2196 | $ 1047 | $ 904 | $ 818 |_as permitted by the restructuring discussed previously in note 7 , certain of the company 2019s u.s .
subsidiaries discount certain a&e liabilities , which increased statutory capital and surplus by approximately $ 206 million , $ 215 million , and $ 211 million at december 31 , 2010 , 2009 , and 2008 , respectively .
the company 2019s international subsidiaries prepare statutory financial statements based on local laws and regulations .
some jurisdictions impose complex regulatory requirements on insurance companies while other jurisdictions impose fewer requirements .
in some countries , the company must obtain licenses issued by governmental authorities to conduct local insurance business .
these licenses may be subject to reserves and minimum capital and solvency tests .
jurisdictions may impose fines , censure , and/or criminal sanctions for violation of regulatory requirements. .
| 2,010
| 200
|
CB
|
Chubb Limited
|
Financials
|
Property & Casualty Insurance
|
Zurich, Switzerland
|
2010-07-15
| 896,159
|
1985
| null | null |
finqa85
|
what was the change in rent expenses between 2011 and 2012?
|
26
|
subtract(231, 205)
|
at december 31 , 2012 , total future minimum commitments under existing non-cancelable operat- ing leases and purchase obligations were as follows: .
|
( a ) includes $ 3.6 billion relating to fiber supply agreements entered into at the time of the company 2019s 2006 transformation plan forestland sales and in conjunction with the 2008 acquis- ition of weyerhaeuser company 2019s containerboard , packaging and recycling business .
rent expense was $ 231 million , $ 205 million and $ 210 million for 2012 , 2011 and 2010 , respectively .
guarantees in connection with sales of businesses , property , equipment , forestlands and other assets , interna- tional paper commonly makes representations and warranties relating to such businesses or assets , and may agree to indemnify buyers with respect to tax and environmental liabilities , breaches of representations and warranties , and other matters .
where liabilities for such matters are determined to be probable and subject to reasonable estimation , accrued liabilities are recorded at the time of sale as a cost of the transaction .
environmental proceedings international paper has been named as a potentially responsible party in environmental remediation actions under various federal and state laws , includ- ing the comprehensive environmental response , compensation and liability act ( cercla ) .
many of these proceedings involve the cleanup of hazardous substances at large commercial landfills that received waste from many different sources .
while joint and several liability is authorized under cercla and equivalent state laws , as a practical matter , liability for cercla cleanups is typically allocated among the many potential responsible parties .
remedial costs are recorded in the consolidated financial statements when they become probable and reasonably estimable .
international paper has estimated the probable liability associated with these matters to be approximately $ 92 million in the aggregate at december 31 , 2012 .
one of the matters referenced above is a closed wood treating facility located in cass lake , minneso- ta .
during 2009 , in connection with an environmental site remediation action under cercla , international paper submitted to the epa a site remediation feasi- bility study .
in june 2011 , the epa selected and published a proposed soil remedy at the site with an estimated cost of $ 46 million .
the overall remediation reserve for the site is currently $ 48 mil- lion to address this selection of an alternative for the soil remediation component of the overall site remedy .
in october 2011 , the epa released a public statement indicating that the final soil remedy deci- sion would be delayed .
in the unlikely event that the epa changes its proposed soil remedy and approves instead a more expensive clean-up alternative , the remediation costs could be material , and sig- nificantly higher than amounts currently recorded .
in october 2012 , the natural resource trustees for this site provided notice to international paper and other potentially responsible parties of their intent to per- form a natural resource damage assessment .
it is premature to predict the outcome of the assessment or to estimate a loss or range of loss , if any , which may be incurred .
in addition to the above matters , other remediation costs typically associated with the cleanup of hazardous substances at the company 2019s current , closed or formerly-owned facilities , and recorded as liabilities in the balance sheet , totaled approximately $ 46 million at december 31 , 2012 .
other than as described above , completion of required remedial actions is not expected to have a material effect on our consolidated financial statements .
the company is a potentially responsible party with respect to the allied paper , inc./portage creek/ kalamazoo river superfund site ( kalamazoo river superfund site ) in michigan .
the epa asserts that the site is contaminated primarily by pcbs as a result of discharges from various paper mills located along the river , including a paper mill formerly owned by st .
regis .
the company is a successor in interest to st .
regis .
international paper has not received any orders from the epa with respect to the site and is in the process of collecting information from the epa and other parties relative to the kalamazoo river superfund site to evaluate the extent of its liability , if any , with respect to the site .
accordingly , it is pre- mature to estimate a loss or range of loss with respect to this site .
also in connection with the kalamazoo river superfund site , the company was named as a defendant by georgia-pacific consumer products lp , fort james corporation and georgia pacific llc in a contribution and cost recovery action for alleged pollution at the kalamazoo river super- fund site .
the suit seeks contribution under cercla for $ 79 million in costs purportedly expended by plaintiffs as of the filing of the com- plaint , and for future remediation costs .
the suit alleges that a mill , during the time it was allegedly owned and operated by st .
regis , discharged pcb contaminated solids and paper residuals resulting from paper de-inking and recycling .
also named as defendants in the suit are ncr corporation and weyerhaeuser company .
in mid-2011 , the suit was .
|
| | in millions | 2013 | 2014 | 2015 | 2016 | 2017 | thereafter |
|---:|:---------------------------|:-------|:-------|:-------|:-------|:-------|:-------------|
| 0 | lease obligations | $ 198 | $ 136 | $ 106 | $ 70 | $ 50 | $ 141 |
| 1 | purchase obligations ( a ) | 3213 | 828 | 722 | 620 | 808 | 2654 |
| 2 | total | $ 3411 | $ 964 | $ 828 | $ 690 | $ 858 | $ 2795 |
|
at december 31 , 2012 , total future minimum commitments under existing non-cancelable operat- ing leases and purchase obligations were as follows: ._| | in millions | 2013 | 2014 | 2015 | 2016 | 2017 | thereafter |
|---:|:---------------------------|:-------|:-------|:-------|:-------|:-------|:-------------|
| 0 | lease obligations | $ 198 | $ 136 | $ 106 | $ 70 | $ 50 | $ 141 |
| 1 | purchase obligations ( a ) | 3213 | 828 | 722 | 620 | 808 | 2654 |
| 2 | total | $ 3411 | $ 964 | $ 828 | $ 690 | $ 858 | $ 2795 |_( a ) includes $ 3.6 billion relating to fiber supply agreements entered into at the time of the company 2019s 2006 transformation plan forestland sales and in conjunction with the 2008 acquis- ition of weyerhaeuser company 2019s containerboard , packaging and recycling business .
rent expense was $ 231 million , $ 205 million and $ 210 million for 2012 , 2011 and 2010 , respectively .
guarantees in connection with sales of businesses , property , equipment , forestlands and other assets , interna- tional paper commonly makes representations and warranties relating to such businesses or assets , and may agree to indemnify buyers with respect to tax and environmental liabilities , breaches of representations and warranties , and other matters .
where liabilities for such matters are determined to be probable and subject to reasonable estimation , accrued liabilities are recorded at the time of sale as a cost of the transaction .
environmental proceedings international paper has been named as a potentially responsible party in environmental remediation actions under various federal and state laws , includ- ing the comprehensive environmental response , compensation and liability act ( cercla ) .
many of these proceedings involve the cleanup of hazardous substances at large commercial landfills that received waste from many different sources .
while joint and several liability is authorized under cercla and equivalent state laws , as a practical matter , liability for cercla cleanups is typically allocated among the many potential responsible parties .
remedial costs are recorded in the consolidated financial statements when they become probable and reasonably estimable .
international paper has estimated the probable liability associated with these matters to be approximately $ 92 million in the aggregate at december 31 , 2012 .
one of the matters referenced above is a closed wood treating facility located in cass lake , minneso- ta .
during 2009 , in connection with an environmental site remediation action under cercla , international paper submitted to the epa a site remediation feasi- bility study .
in june 2011 , the epa selected and published a proposed soil remedy at the site with an estimated cost of $ 46 million .
the overall remediation reserve for the site is currently $ 48 mil- lion to address this selection of an alternative for the soil remediation component of the overall site remedy .
in october 2011 , the epa released a public statement indicating that the final soil remedy deci- sion would be delayed .
in the unlikely event that the epa changes its proposed soil remedy and approves instead a more expensive clean-up alternative , the remediation costs could be material , and sig- nificantly higher than amounts currently recorded .
in october 2012 , the natural resource trustees for this site provided notice to international paper and other potentially responsible parties of their intent to per- form a natural resource damage assessment .
it is premature to predict the outcome of the assessment or to estimate a loss or range of loss , if any , which may be incurred .
in addition to the above matters , other remediation costs typically associated with the cleanup of hazardous substances at the company 2019s current , closed or formerly-owned facilities , and recorded as liabilities in the balance sheet , totaled approximately $ 46 million at december 31 , 2012 .
other than as described above , completion of required remedial actions is not expected to have a material effect on our consolidated financial statements .
the company is a potentially responsible party with respect to the allied paper , inc./portage creek/ kalamazoo river superfund site ( kalamazoo river superfund site ) in michigan .
the epa asserts that the site is contaminated primarily by pcbs as a result of discharges from various paper mills located along the river , including a paper mill formerly owned by st .
regis .
the company is a successor in interest to st .
regis .
international paper has not received any orders from the epa with respect to the site and is in the process of collecting information from the epa and other parties relative to the kalamazoo river superfund site to evaluate the extent of its liability , if any , with respect to the site .
accordingly , it is pre- mature to estimate a loss or range of loss with respect to this site .
also in connection with the kalamazoo river superfund site , the company was named as a defendant by georgia-pacific consumer products lp , fort james corporation and georgia pacific llc in a contribution and cost recovery action for alleged pollution at the kalamazoo river super- fund site .
the suit seeks contribution under cercla for $ 79 million in costs purportedly expended by plaintiffs as of the filing of the com- plaint , and for future remediation costs .
the suit alleges that a mill , during the time it was allegedly owned and operated by st .
regis , discharged pcb contaminated solids and paper residuals resulting from paper de-inking and recycling .
also named as defendants in the suit are ncr corporation and weyerhaeuser company .
in mid-2011 , the suit was .
| 2,012
| 93
|
IP
|
International Paper
|
Materials
|
Paper & Plastic Packaging Products & Materials
|
Memphis, Tennessee
|
1957-03-04
| 51,434
|
1898
|
what was the change in rent expenses between 2011 and 2012?
|
26
|
subtract(231, 205)
|
at december 31 , 2012 , total future minimum commitments under existing non-cancelable operat- ing leases and purchase obligations were as follows: .
|
( a ) includes $ 3.6 billion relating to fiber supply agreements entered into at the time of the company 2019s 2006 transformation plan forestland sales and in conjunction with the 2008 acquis- ition of weyerhaeuser company 2019s containerboard , packaging and recycling business .
rent expense was $ 231 million , $ 205 million and $ 210 million for 2012 , 2011 and 2010 , respectively .
guarantees in connection with sales of businesses , property , equipment , forestlands and other assets , interna- tional paper commonly makes representations and warranties relating to such businesses or assets , and may agree to indemnify buyers with respect to tax and environmental liabilities , breaches of representations and warranties , and other matters .
where liabilities for such matters are determined to be probable and subject to reasonable estimation , accrued liabilities are recorded at the time of sale as a cost of the transaction .
environmental proceedings international paper has been named as a potentially responsible party in environmental remediation actions under various federal and state laws , includ- ing the comprehensive environmental response , compensation and liability act ( cercla ) .
many of these proceedings involve the cleanup of hazardous substances at large commercial landfills that received waste from many different sources .
while joint and several liability is authorized under cercla and equivalent state laws , as a practical matter , liability for cercla cleanups is typically allocated among the many potential responsible parties .
remedial costs are recorded in the consolidated financial statements when they become probable and reasonably estimable .
international paper has estimated the probable liability associated with these matters to be approximately $ 92 million in the aggregate at december 31 , 2012 .
one of the matters referenced above is a closed wood treating facility located in cass lake , minneso- ta .
during 2009 , in connection with an environmental site remediation action under cercla , international paper submitted to the epa a site remediation feasi- bility study .
in june 2011 , the epa selected and published a proposed soil remedy at the site with an estimated cost of $ 46 million .
the overall remediation reserve for the site is currently $ 48 mil- lion to address this selection of an alternative for the soil remediation component of the overall site remedy .
in october 2011 , the epa released a public statement indicating that the final soil remedy deci- sion would be delayed .
in the unlikely event that the epa changes its proposed soil remedy and approves instead a more expensive clean-up alternative , the remediation costs could be material , and sig- nificantly higher than amounts currently recorded .
in october 2012 , the natural resource trustees for this site provided notice to international paper and other potentially responsible parties of their intent to per- form a natural resource damage assessment .
it is premature to predict the outcome of the assessment or to estimate a loss or range of loss , if any , which may be incurred .
in addition to the above matters , other remediation costs typically associated with the cleanup of hazardous substances at the company 2019s current , closed or formerly-owned facilities , and recorded as liabilities in the balance sheet , totaled approximately $ 46 million at december 31 , 2012 .
other than as described above , completion of required remedial actions is not expected to have a material effect on our consolidated financial statements .
the company is a potentially responsible party with respect to the allied paper , inc./portage creek/ kalamazoo river superfund site ( kalamazoo river superfund site ) in michigan .
the epa asserts that the site is contaminated primarily by pcbs as a result of discharges from various paper mills located along the river , including a paper mill formerly owned by st .
regis .
the company is a successor in interest to st .
regis .
international paper has not received any orders from the epa with respect to the site and is in the process of collecting information from the epa and other parties relative to the kalamazoo river superfund site to evaluate the extent of its liability , if any , with respect to the site .
accordingly , it is pre- mature to estimate a loss or range of loss with respect to this site .
also in connection with the kalamazoo river superfund site , the company was named as a defendant by georgia-pacific consumer products lp , fort james corporation and georgia pacific llc in a contribution and cost recovery action for alleged pollution at the kalamazoo river super- fund site .
the suit seeks contribution under cercla for $ 79 million in costs purportedly expended by plaintiffs as of the filing of the com- plaint , and for future remediation costs .
the suit alleges that a mill , during the time it was allegedly owned and operated by st .
regis , discharged pcb contaminated solids and paper residuals resulting from paper de-inking and recycling .
also named as defendants in the suit are ncr corporation and weyerhaeuser company .
in mid-2011 , the suit was .
|
| | in millions | 2013 | 2014 | 2015 | 2016 | 2017 | thereafter |
|---:|:---------------------------|:-------|:-------|:-------|:-------|:-------|:-------------|
| 0 | lease obligations | $ 198 | $ 136 | $ 106 | $ 70 | $ 50 | $ 141 |
| 1 | purchase obligations ( a ) | 3213 | 828 | 722 | 620 | 808 | 2654 |
| 2 | total | $ 3411 | $ 964 | $ 828 | $ 690 | $ 858 | $ 2795 |
|
at december 31 , 2012 , total future minimum commitments under existing non-cancelable operat- ing leases and purchase obligations were as follows: ._| | in millions | 2013 | 2014 | 2015 | 2016 | 2017 | thereafter |
|---:|:---------------------------|:-------|:-------|:-------|:-------|:-------|:-------------|
| 0 | lease obligations | $ 198 | $ 136 | $ 106 | $ 70 | $ 50 | $ 141 |
| 1 | purchase obligations ( a ) | 3213 | 828 | 722 | 620 | 808 | 2654 |
| 2 | total | $ 3411 | $ 964 | $ 828 | $ 690 | $ 858 | $ 2795 |_( a ) includes $ 3.6 billion relating to fiber supply agreements entered into at the time of the company 2019s 2006 transformation plan forestland sales and in conjunction with the 2008 acquis- ition of weyerhaeuser company 2019s containerboard , packaging and recycling business .
rent expense was $ 231 million , $ 205 million and $ 210 million for 2012 , 2011 and 2010 , respectively .
guarantees in connection with sales of businesses , property , equipment , forestlands and other assets , interna- tional paper commonly makes representations and warranties relating to such businesses or assets , and may agree to indemnify buyers with respect to tax and environmental liabilities , breaches of representations and warranties , and other matters .
where liabilities for such matters are determined to be probable and subject to reasonable estimation , accrued liabilities are recorded at the time of sale as a cost of the transaction .
environmental proceedings international paper has been named as a potentially responsible party in environmental remediation actions under various federal and state laws , includ- ing the comprehensive environmental response , compensation and liability act ( cercla ) .
many of these proceedings involve the cleanup of hazardous substances at large commercial landfills that received waste from many different sources .
while joint and several liability is authorized under cercla and equivalent state laws , as a practical matter , liability for cercla cleanups is typically allocated among the many potential responsible parties .
remedial costs are recorded in the consolidated financial statements when they become probable and reasonably estimable .
international paper has estimated the probable liability associated with these matters to be approximately $ 92 million in the aggregate at december 31 , 2012 .
one of the matters referenced above is a closed wood treating facility located in cass lake , minneso- ta .
during 2009 , in connection with an environmental site remediation action under cercla , international paper submitted to the epa a site remediation feasi- bility study .
in june 2011 , the epa selected and published a proposed soil remedy at the site with an estimated cost of $ 46 million .
the overall remediation reserve for the site is currently $ 48 mil- lion to address this selection of an alternative for the soil remediation component of the overall site remedy .
in october 2011 , the epa released a public statement indicating that the final soil remedy deci- sion would be delayed .
in the unlikely event that the epa changes its proposed soil remedy and approves instead a more expensive clean-up alternative , the remediation costs could be material , and sig- nificantly higher than amounts currently recorded .
in october 2012 , the natural resource trustees for this site provided notice to international paper and other potentially responsible parties of their intent to per- form a natural resource damage assessment .
it is premature to predict the outcome of the assessment or to estimate a loss or range of loss , if any , which may be incurred .
in addition to the above matters , other remediation costs typically associated with the cleanup of hazardous substances at the company 2019s current , closed or formerly-owned facilities , and recorded as liabilities in the balance sheet , totaled approximately $ 46 million at december 31 , 2012 .
other than as described above , completion of required remedial actions is not expected to have a material effect on our consolidated financial statements .
the company is a potentially responsible party with respect to the allied paper , inc./portage creek/ kalamazoo river superfund site ( kalamazoo river superfund site ) in michigan .
the epa asserts that the site is contaminated primarily by pcbs as a result of discharges from various paper mills located along the river , including a paper mill formerly owned by st .
regis .
the company is a successor in interest to st .
regis .
international paper has not received any orders from the epa with respect to the site and is in the process of collecting information from the epa and other parties relative to the kalamazoo river superfund site to evaluate the extent of its liability , if any , with respect to the site .
accordingly , it is pre- mature to estimate a loss or range of loss with respect to this site .
also in connection with the kalamazoo river superfund site , the company was named as a defendant by georgia-pacific consumer products lp , fort james corporation and georgia pacific llc in a contribution and cost recovery action for alleged pollution at the kalamazoo river super- fund site .
the suit seeks contribution under cercla for $ 79 million in costs purportedly expended by plaintiffs as of the filing of the com- plaint , and for future remediation costs .
the suit alleges that a mill , during the time it was allegedly owned and operated by st .
regis , discharged pcb contaminated solids and paper residuals resulting from paper de-inking and recycling .
also named as defendants in the suit are ncr corporation and weyerhaeuser company .
in mid-2011 , the suit was .
| 2,012
| 93
|
IP
|
International Paper
|
Materials
|
Paper & Plastic Packaging Products & Materials
|
Memphis, Tennessee
|
1957-03-04
| 51,434
|
1898
| null | null |
finqa86
|
what is the percentage change in credit net from 2016 to 2017?
|
-39.9%
|
divide(subtract(1505, 2504), 2504)
|
the goldman sachs group , inc .
and subsidiaries notes to consolidated financial statements in the tables above : 2030 the gross fair values exclude the effects of both counterparty netting and collateral netting , and therefore are not representative of the firm 2019s exposure .
2030 counterparty netting is reflected in each level to the extent that receivable and payable balances are netted within the same level and is included in counterparty netting in levels .
where the counterparty netting is across levels , the netting is included in cross-level counterparty netting .
2030 derivative assets are shown as positive amounts and derivative liabilities are shown as negative amounts .
significant unobservable inputs the table below presents the amount of level 3 assets ( liabilities ) , and ranges , averages and medians of significant unobservable inputs used to value the firm 2019s level 3 derivatives .
level 3 assets ( liabilities ) and range of significant unobservable inputs ( average/median ) as of december $ in millions 2017 2016 .
|
in the table above : 2030 derivative assets are shown as positive amounts and derivative liabilities are shown as negative amounts .
2030 ranges represent the significant unobservable inputs that were used in the valuation of each type of derivative .
2030 averages represent the arithmetic average of the inputs and are not weighted by the relative fair value or notional of the respective financial instruments .
an average greater than the median indicates that the majority of inputs are below the average .
for example , the difference between the average and the median for credit spreads and oil spread inputs indicates that the majority of the inputs fall in the lower end of the range .
2030 the ranges , averages and medians of these inputs are not representative of the appropriate inputs to use when calculating the fair value of any one derivative .
for example , the highest correlation for interest rate derivatives is appropriate for valuing a specific interest rate derivative but may not be appropriate for valuing any other interest rate derivative .
accordingly , the ranges of inputs do not represent uncertainty in , or possible ranges of , fair value measurements of the firm 2019s level 3 derivatives .
2030 interest rates , currencies and equities derivatives are valued using option pricing models , credit derivatives are valued using option pricing , correlation and discounted cash flow models , and commodities derivatives are valued using option pricing and discounted cash flow models .
2030 the fair value of any one instrument may be determined using multiple valuation techniques .
for example , option pricing models and discounted cash flows models are typically used together to determine fair value .
therefore , the level 3 balance encompasses both of these techniques .
2030 correlation within currencies and equities includes cross- product type correlation .
2030 natural gas spread represents the spread per million british thermal units of natural gas .
2030 oil spread represents the spread per barrel of oil and refined products .
range of significant unobservable inputs the following is information about the ranges of significant unobservable inputs used to value the firm 2019s level 3 derivative instruments : 2030 correlation .
ranges for correlation cover a variety of underliers both within one product type ( e.g. , equity index and equity single stock names ) and across product types ( e.g. , correlation of an interest rate and a currency ) , as well as across regions .
generally , cross-product type correlation inputs are used to value more complex instruments and are lower than correlation inputs on assets within the same derivative product type .
2030 volatility .
ranges for volatility cover numerous underliers across a variety of markets , maturities and strike prices .
for example , volatility of equity indices is generally lower than volatility of single stocks .
2030 credit spreads , upfront credit points and recovery rates .
the ranges for credit spreads , upfront credit points and recovery rates cover a variety of underliers ( index and single names ) , regions , sectors , maturities and credit qualities ( high-yield and investment-grade ) .
the broad range of this population gives rise to the width of the ranges of significant unobservable inputs .
130 goldman sachs 2017 form 10-k .
|
| | $ in millions | level 3 assets ( liabilities ) and range of significant unobservable inputs ( average/median ) as of december 2017 | level 3 assets ( liabilities ) and range of significant unobservable inputs ( average/median ) as of december 2016 |
|---:|:-----------------------|:---------------------------------------------------------------------------------------------------------------------|:---------------------------------------------------------------------------------------------------------------------|
| 0 | interest rates net | $ -410 ( 410 ) | $ -381 ( 381 ) |
| 1 | correlation | ( 10 ) % ( % ) to 95% ( 95 % ) ( 71%/79% ( 71%/79 % ) ) | ( 10 ) % ( % ) to 86% ( 86 % ) ( 56%/60% ( 56%/60 % ) ) |
| 2 | volatility ( bps ) | 31 to 150 ( 84/78 ) | 31 to 151 ( 84/57 ) |
| 3 | credit net | $ 1505 | $ 2504 |
| 4 | correlation | 28% ( 28 % ) to 84% ( 84 % ) ( 61%/60% ( 61%/60 % ) ) | 35% ( 35 % ) to 91% ( 91 % ) ( 65%/68% ( 65%/68 % ) ) |
| 5 | credit spreads ( bps ) | 1 to 633 ( 69/42 ) | 1 to 993 ( 122/73 ) |
| 6 | upfront credit points | 0 to 97 ( 42/38 ) | 0 to 100 ( 43/35 ) |
| 7 | recovery rates | 22% ( 22 % ) to 73% ( 73 % ) ( 68%/73% ( 68%/73 % ) ) | 1% ( 1 % ) to 97% ( 97 % ) ( 58%/70% ( 58%/70 % ) ) |
| 8 | currencies net | $ -181 ( 181 ) | $ 3 |
| 9 | correlation | 49% ( 49 % ) to 72% ( 72 % ) ( 61%/62% ( 61%/62 % ) ) | 25% ( 25 % ) to 70% ( 70 % ) ( 50%/55% ( 50%/55 % ) ) |
| 10 | commodities net | $ 47 | $ 73 |
| 11 | volatility | 9% ( 9 % ) to 79% ( 79 % ) ( 24%/24% ( 24%/24 % ) ) | 13% ( 13 % ) to 68% ( 68 % ) ( 33%/33% ( 33%/33 % ) ) |
| 12 | natural gas spread | $ ( 2.38 ) to $ 3.34 ( $ ( 0.22 ) /$ ( 0.12 ) ) | $ ( 1.81 ) to $ 4.33 ( $ ( 0.14 ) /$ ( 0.05 ) ) |
| 13 | oil spread | $ ( 2.86 ) to $ 23.61 ( $ 6.47/$ 2.35 ) | $ ( 19.72 ) to $ 64.92 ( $ 25.30/$ 16.43 ) |
| 14 | equities net | $ -1249 ( 1249 ) | $ -3416 ( 3416 ) |
| 15 | correlation | ( 36 ) % ( % ) to 94% ( 94 % ) ( 50%/52% ( 50%/52 % ) ) | ( 39 ) % ( % ) to 88% ( 88 % ) ( 41%/41% ( 41%/41 % ) ) |
| 16 | volatility | 4% ( 4 % ) to 72% ( 72 % ) ( 24%/22% ( 24%/22 % ) ) | 5% ( 5 % ) to 72% ( 72 % ) ( 24%/23% ( 24%/23 % ) ) |
|
the goldman sachs group , inc .
and subsidiaries notes to consolidated financial statements in the tables above : 2030 the gross fair values exclude the effects of both counterparty netting and collateral netting , and therefore are not representative of the firm 2019s exposure .
2030 counterparty netting is reflected in each level to the extent that receivable and payable balances are netted within the same level and is included in counterparty netting in levels .
where the counterparty netting is across levels , the netting is included in cross-level counterparty netting .
2030 derivative assets are shown as positive amounts and derivative liabilities are shown as negative amounts .
significant unobservable inputs the table below presents the amount of level 3 assets ( liabilities ) , and ranges , averages and medians of significant unobservable inputs used to value the firm 2019s level 3 derivatives .
level 3 assets ( liabilities ) and range of significant unobservable inputs ( average/median ) as of december $ in millions 2017 2016 ._| | $ in millions | level 3 assets ( liabilities ) and range of significant unobservable inputs ( average/median ) as of december 2017 | level 3 assets ( liabilities ) and range of significant unobservable inputs ( average/median ) as of december 2016 |
|---:|:-----------------------|:---------------------------------------------------------------------------------------------------------------------|:---------------------------------------------------------------------------------------------------------------------|
| 0 | interest rates net | $ -410 ( 410 ) | $ -381 ( 381 ) |
| 1 | correlation | ( 10 ) % ( % ) to 95% ( 95 % ) ( 71%/79% ( 71%/79 % ) ) | ( 10 ) % ( % ) to 86% ( 86 % ) ( 56%/60% ( 56%/60 % ) ) |
| 2 | volatility ( bps ) | 31 to 150 ( 84/78 ) | 31 to 151 ( 84/57 ) |
| 3 | credit net | $ 1505 | $ 2504 |
| 4 | correlation | 28% ( 28 % ) to 84% ( 84 % ) ( 61%/60% ( 61%/60 % ) ) | 35% ( 35 % ) to 91% ( 91 % ) ( 65%/68% ( 65%/68 % ) ) |
| 5 | credit spreads ( bps ) | 1 to 633 ( 69/42 ) | 1 to 993 ( 122/73 ) |
| 6 | upfront credit points | 0 to 97 ( 42/38 ) | 0 to 100 ( 43/35 ) |
| 7 | recovery rates | 22% ( 22 % ) to 73% ( 73 % ) ( 68%/73% ( 68%/73 % ) ) | 1% ( 1 % ) to 97% ( 97 % ) ( 58%/70% ( 58%/70 % ) ) |
| 8 | currencies net | $ -181 ( 181 ) | $ 3 |
| 9 | correlation | 49% ( 49 % ) to 72% ( 72 % ) ( 61%/62% ( 61%/62 % ) ) | 25% ( 25 % ) to 70% ( 70 % ) ( 50%/55% ( 50%/55 % ) ) |
| 10 | commodities net | $ 47 | $ 73 |
| 11 | volatility | 9% ( 9 % ) to 79% ( 79 % ) ( 24%/24% ( 24%/24 % ) ) | 13% ( 13 % ) to 68% ( 68 % ) ( 33%/33% ( 33%/33 % ) ) |
| 12 | natural gas spread | $ ( 2.38 ) to $ 3.34 ( $ ( 0.22 ) /$ ( 0.12 ) ) | $ ( 1.81 ) to $ 4.33 ( $ ( 0.14 ) /$ ( 0.05 ) ) |
| 13 | oil spread | $ ( 2.86 ) to $ 23.61 ( $ 6.47/$ 2.35 ) | $ ( 19.72 ) to $ 64.92 ( $ 25.30/$ 16.43 ) |
| 14 | equities net | $ -1249 ( 1249 ) | $ -3416 ( 3416 ) |
| 15 | correlation | ( 36 ) % ( % ) to 94% ( 94 % ) ( 50%/52% ( 50%/52 % ) ) | ( 39 ) % ( % ) to 88% ( 88 % ) ( 41%/41% ( 41%/41 % ) ) |
| 16 | volatility | 4% ( 4 % ) to 72% ( 72 % ) ( 24%/22% ( 24%/22 % ) ) | 5% ( 5 % ) to 72% ( 72 % ) ( 24%/23% ( 24%/23 % ) ) |_in the table above : 2030 derivative assets are shown as positive amounts and derivative liabilities are shown as negative amounts .
2030 ranges represent the significant unobservable inputs that were used in the valuation of each type of derivative .
2030 averages represent the arithmetic average of the inputs and are not weighted by the relative fair value or notional of the respective financial instruments .
an average greater than the median indicates that the majority of inputs are below the average .
for example , the difference between the average and the median for credit spreads and oil spread inputs indicates that the majority of the inputs fall in the lower end of the range .
2030 the ranges , averages and medians of these inputs are not representative of the appropriate inputs to use when calculating the fair value of any one derivative .
for example , the highest correlation for interest rate derivatives is appropriate for valuing a specific interest rate derivative but may not be appropriate for valuing any other interest rate derivative .
accordingly , the ranges of inputs do not represent uncertainty in , or possible ranges of , fair value measurements of the firm 2019s level 3 derivatives .
2030 interest rates , currencies and equities derivatives are valued using option pricing models , credit derivatives are valued using option pricing , correlation and discounted cash flow models , and commodities derivatives are valued using option pricing and discounted cash flow models .
2030 the fair value of any one instrument may be determined using multiple valuation techniques .
for example , option pricing models and discounted cash flows models are typically used together to determine fair value .
therefore , the level 3 balance encompasses both of these techniques .
2030 correlation within currencies and equities includes cross- product type correlation .
2030 natural gas spread represents the spread per million british thermal units of natural gas .
2030 oil spread represents the spread per barrel of oil and refined products .
range of significant unobservable inputs the following is information about the ranges of significant unobservable inputs used to value the firm 2019s level 3 derivative instruments : 2030 correlation .
ranges for correlation cover a variety of underliers both within one product type ( e.g. , equity index and equity single stock names ) and across product types ( e.g. , correlation of an interest rate and a currency ) , as well as across regions .
generally , cross-product type correlation inputs are used to value more complex instruments and are lower than correlation inputs on assets within the same derivative product type .
2030 volatility .
ranges for volatility cover numerous underliers across a variety of markets , maturities and strike prices .
for example , volatility of equity indices is generally lower than volatility of single stocks .
2030 credit spreads , upfront credit points and recovery rates .
the ranges for credit spreads , upfront credit points and recovery rates cover a variety of underliers ( index and single names ) , regions , sectors , maturities and credit qualities ( high-yield and investment-grade ) .
the broad range of this population gives rise to the width of the ranges of significant unobservable inputs .
130 goldman sachs 2017 form 10-k .
| 2,017
| 143
|
GS
|
Goldman Sachs
|
Financials
|
Investment Banking & Brokerage
|
New York City, New York
|
2002-07-22
| 886,982
|
1869
|
what is the percentage change in credit net from 2016 to 2017?
|
-39.9%
|
divide(subtract(1505, 2504), 2504)
|
the goldman sachs group , inc .
and subsidiaries notes to consolidated financial statements in the tables above : 2030 the gross fair values exclude the effects of both counterparty netting and collateral netting , and therefore are not representative of the firm 2019s exposure .
2030 counterparty netting is reflected in each level to the extent that receivable and payable balances are netted within the same level and is included in counterparty netting in levels .
where the counterparty netting is across levels , the netting is included in cross-level counterparty netting .
2030 derivative assets are shown as positive amounts and derivative liabilities are shown as negative amounts .
significant unobservable inputs the table below presents the amount of level 3 assets ( liabilities ) , and ranges , averages and medians of significant unobservable inputs used to value the firm 2019s level 3 derivatives .
level 3 assets ( liabilities ) and range of significant unobservable inputs ( average/median ) as of december $ in millions 2017 2016 .
|
in the table above : 2030 derivative assets are shown as positive amounts and derivative liabilities are shown as negative amounts .
2030 ranges represent the significant unobservable inputs that were used in the valuation of each type of derivative .
2030 averages represent the arithmetic average of the inputs and are not weighted by the relative fair value or notional of the respective financial instruments .
an average greater than the median indicates that the majority of inputs are below the average .
for example , the difference between the average and the median for credit spreads and oil spread inputs indicates that the majority of the inputs fall in the lower end of the range .
2030 the ranges , averages and medians of these inputs are not representative of the appropriate inputs to use when calculating the fair value of any one derivative .
for example , the highest correlation for interest rate derivatives is appropriate for valuing a specific interest rate derivative but may not be appropriate for valuing any other interest rate derivative .
accordingly , the ranges of inputs do not represent uncertainty in , or possible ranges of , fair value measurements of the firm 2019s level 3 derivatives .
2030 interest rates , currencies and equities derivatives are valued using option pricing models , credit derivatives are valued using option pricing , correlation and discounted cash flow models , and commodities derivatives are valued using option pricing and discounted cash flow models .
2030 the fair value of any one instrument may be determined using multiple valuation techniques .
for example , option pricing models and discounted cash flows models are typically used together to determine fair value .
therefore , the level 3 balance encompasses both of these techniques .
2030 correlation within currencies and equities includes cross- product type correlation .
2030 natural gas spread represents the spread per million british thermal units of natural gas .
2030 oil spread represents the spread per barrel of oil and refined products .
range of significant unobservable inputs the following is information about the ranges of significant unobservable inputs used to value the firm 2019s level 3 derivative instruments : 2030 correlation .
ranges for correlation cover a variety of underliers both within one product type ( e.g. , equity index and equity single stock names ) and across product types ( e.g. , correlation of an interest rate and a currency ) , as well as across regions .
generally , cross-product type correlation inputs are used to value more complex instruments and are lower than correlation inputs on assets within the same derivative product type .
2030 volatility .
ranges for volatility cover numerous underliers across a variety of markets , maturities and strike prices .
for example , volatility of equity indices is generally lower than volatility of single stocks .
2030 credit spreads , upfront credit points and recovery rates .
the ranges for credit spreads , upfront credit points and recovery rates cover a variety of underliers ( index and single names ) , regions , sectors , maturities and credit qualities ( high-yield and investment-grade ) .
the broad range of this population gives rise to the width of the ranges of significant unobservable inputs .
130 goldman sachs 2017 form 10-k .
|
| | $ in millions | level 3 assets ( liabilities ) and range of significant unobservable inputs ( average/median ) as of december 2017 | level 3 assets ( liabilities ) and range of significant unobservable inputs ( average/median ) as of december 2016 |
|---:|:-----------------------|:---------------------------------------------------------------------------------------------------------------------|:---------------------------------------------------------------------------------------------------------------------|
| 0 | interest rates net | $ -410 ( 410 ) | $ -381 ( 381 ) |
| 1 | correlation | ( 10 ) % ( % ) to 95% ( 95 % ) ( 71%/79% ( 71%/79 % ) ) | ( 10 ) % ( % ) to 86% ( 86 % ) ( 56%/60% ( 56%/60 % ) ) |
| 2 | volatility ( bps ) | 31 to 150 ( 84/78 ) | 31 to 151 ( 84/57 ) |
| 3 | credit net | $ 1505 | $ 2504 |
| 4 | correlation | 28% ( 28 % ) to 84% ( 84 % ) ( 61%/60% ( 61%/60 % ) ) | 35% ( 35 % ) to 91% ( 91 % ) ( 65%/68% ( 65%/68 % ) ) |
| 5 | credit spreads ( bps ) | 1 to 633 ( 69/42 ) | 1 to 993 ( 122/73 ) |
| 6 | upfront credit points | 0 to 97 ( 42/38 ) | 0 to 100 ( 43/35 ) |
| 7 | recovery rates | 22% ( 22 % ) to 73% ( 73 % ) ( 68%/73% ( 68%/73 % ) ) | 1% ( 1 % ) to 97% ( 97 % ) ( 58%/70% ( 58%/70 % ) ) |
| 8 | currencies net | $ -181 ( 181 ) | $ 3 |
| 9 | correlation | 49% ( 49 % ) to 72% ( 72 % ) ( 61%/62% ( 61%/62 % ) ) | 25% ( 25 % ) to 70% ( 70 % ) ( 50%/55% ( 50%/55 % ) ) |
| 10 | commodities net | $ 47 | $ 73 |
| 11 | volatility | 9% ( 9 % ) to 79% ( 79 % ) ( 24%/24% ( 24%/24 % ) ) | 13% ( 13 % ) to 68% ( 68 % ) ( 33%/33% ( 33%/33 % ) ) |
| 12 | natural gas spread | $ ( 2.38 ) to $ 3.34 ( $ ( 0.22 ) /$ ( 0.12 ) ) | $ ( 1.81 ) to $ 4.33 ( $ ( 0.14 ) /$ ( 0.05 ) ) |
| 13 | oil spread | $ ( 2.86 ) to $ 23.61 ( $ 6.47/$ 2.35 ) | $ ( 19.72 ) to $ 64.92 ( $ 25.30/$ 16.43 ) |
| 14 | equities net | $ -1249 ( 1249 ) | $ -3416 ( 3416 ) |
| 15 | correlation | ( 36 ) % ( % ) to 94% ( 94 % ) ( 50%/52% ( 50%/52 % ) ) | ( 39 ) % ( % ) to 88% ( 88 % ) ( 41%/41% ( 41%/41 % ) ) |
| 16 | volatility | 4% ( 4 % ) to 72% ( 72 % ) ( 24%/22% ( 24%/22 % ) ) | 5% ( 5 % ) to 72% ( 72 % ) ( 24%/23% ( 24%/23 % ) ) |
|
the goldman sachs group , inc .
and subsidiaries notes to consolidated financial statements in the tables above : 2030 the gross fair values exclude the effects of both counterparty netting and collateral netting , and therefore are not representative of the firm 2019s exposure .
2030 counterparty netting is reflected in each level to the extent that receivable and payable balances are netted within the same level and is included in counterparty netting in levels .
where the counterparty netting is across levels , the netting is included in cross-level counterparty netting .
2030 derivative assets are shown as positive amounts and derivative liabilities are shown as negative amounts .
significant unobservable inputs the table below presents the amount of level 3 assets ( liabilities ) , and ranges , averages and medians of significant unobservable inputs used to value the firm 2019s level 3 derivatives .
level 3 assets ( liabilities ) and range of significant unobservable inputs ( average/median ) as of december $ in millions 2017 2016 ._| | $ in millions | level 3 assets ( liabilities ) and range of significant unobservable inputs ( average/median ) as of december 2017 | level 3 assets ( liabilities ) and range of significant unobservable inputs ( average/median ) as of december 2016 |
|---:|:-----------------------|:---------------------------------------------------------------------------------------------------------------------|:---------------------------------------------------------------------------------------------------------------------|
| 0 | interest rates net | $ -410 ( 410 ) | $ -381 ( 381 ) |
| 1 | correlation | ( 10 ) % ( % ) to 95% ( 95 % ) ( 71%/79% ( 71%/79 % ) ) | ( 10 ) % ( % ) to 86% ( 86 % ) ( 56%/60% ( 56%/60 % ) ) |
| 2 | volatility ( bps ) | 31 to 150 ( 84/78 ) | 31 to 151 ( 84/57 ) |
| 3 | credit net | $ 1505 | $ 2504 |
| 4 | correlation | 28% ( 28 % ) to 84% ( 84 % ) ( 61%/60% ( 61%/60 % ) ) | 35% ( 35 % ) to 91% ( 91 % ) ( 65%/68% ( 65%/68 % ) ) |
| 5 | credit spreads ( bps ) | 1 to 633 ( 69/42 ) | 1 to 993 ( 122/73 ) |
| 6 | upfront credit points | 0 to 97 ( 42/38 ) | 0 to 100 ( 43/35 ) |
| 7 | recovery rates | 22% ( 22 % ) to 73% ( 73 % ) ( 68%/73% ( 68%/73 % ) ) | 1% ( 1 % ) to 97% ( 97 % ) ( 58%/70% ( 58%/70 % ) ) |
| 8 | currencies net | $ -181 ( 181 ) | $ 3 |
| 9 | correlation | 49% ( 49 % ) to 72% ( 72 % ) ( 61%/62% ( 61%/62 % ) ) | 25% ( 25 % ) to 70% ( 70 % ) ( 50%/55% ( 50%/55 % ) ) |
| 10 | commodities net | $ 47 | $ 73 |
| 11 | volatility | 9% ( 9 % ) to 79% ( 79 % ) ( 24%/24% ( 24%/24 % ) ) | 13% ( 13 % ) to 68% ( 68 % ) ( 33%/33% ( 33%/33 % ) ) |
| 12 | natural gas spread | $ ( 2.38 ) to $ 3.34 ( $ ( 0.22 ) /$ ( 0.12 ) ) | $ ( 1.81 ) to $ 4.33 ( $ ( 0.14 ) /$ ( 0.05 ) ) |
| 13 | oil spread | $ ( 2.86 ) to $ 23.61 ( $ 6.47/$ 2.35 ) | $ ( 19.72 ) to $ 64.92 ( $ 25.30/$ 16.43 ) |
| 14 | equities net | $ -1249 ( 1249 ) | $ -3416 ( 3416 ) |
| 15 | correlation | ( 36 ) % ( % ) to 94% ( 94 % ) ( 50%/52% ( 50%/52 % ) ) | ( 39 ) % ( % ) to 88% ( 88 % ) ( 41%/41% ( 41%/41 % ) ) |
| 16 | volatility | 4% ( 4 % ) to 72% ( 72 % ) ( 24%/22% ( 24%/22 % ) ) | 5% ( 5 % ) to 72% ( 72 % ) ( 24%/23% ( 24%/23 % ) ) |_in the table above : 2030 derivative assets are shown as positive amounts and derivative liabilities are shown as negative amounts .
2030 ranges represent the significant unobservable inputs that were used in the valuation of each type of derivative .
2030 averages represent the arithmetic average of the inputs and are not weighted by the relative fair value or notional of the respective financial instruments .
an average greater than the median indicates that the majority of inputs are below the average .
for example , the difference between the average and the median for credit spreads and oil spread inputs indicates that the majority of the inputs fall in the lower end of the range .
2030 the ranges , averages and medians of these inputs are not representative of the appropriate inputs to use when calculating the fair value of any one derivative .
for example , the highest correlation for interest rate derivatives is appropriate for valuing a specific interest rate derivative but may not be appropriate for valuing any other interest rate derivative .
accordingly , the ranges of inputs do not represent uncertainty in , or possible ranges of , fair value measurements of the firm 2019s level 3 derivatives .
2030 interest rates , currencies and equities derivatives are valued using option pricing models , credit derivatives are valued using option pricing , correlation and discounted cash flow models , and commodities derivatives are valued using option pricing and discounted cash flow models .
2030 the fair value of any one instrument may be determined using multiple valuation techniques .
for example , option pricing models and discounted cash flows models are typically used together to determine fair value .
therefore , the level 3 balance encompasses both of these techniques .
2030 correlation within currencies and equities includes cross- product type correlation .
2030 natural gas spread represents the spread per million british thermal units of natural gas .
2030 oil spread represents the spread per barrel of oil and refined products .
range of significant unobservable inputs the following is information about the ranges of significant unobservable inputs used to value the firm 2019s level 3 derivative instruments : 2030 correlation .
ranges for correlation cover a variety of underliers both within one product type ( e.g. , equity index and equity single stock names ) and across product types ( e.g. , correlation of an interest rate and a currency ) , as well as across regions .
generally , cross-product type correlation inputs are used to value more complex instruments and are lower than correlation inputs on assets within the same derivative product type .
2030 volatility .
ranges for volatility cover numerous underliers across a variety of markets , maturities and strike prices .
for example , volatility of equity indices is generally lower than volatility of single stocks .
2030 credit spreads , upfront credit points and recovery rates .
the ranges for credit spreads , upfront credit points and recovery rates cover a variety of underliers ( index and single names ) , regions , sectors , maturities and credit qualities ( high-yield and investment-grade ) .
the broad range of this population gives rise to the width of the ranges of significant unobservable inputs .
130 goldman sachs 2017 form 10-k .
| 2,017
| 143
|
GS
|
Goldman Sachs
|
Financials
|
Investment Banking & Brokerage
|
New York City, New York
|
2002-07-22
| 886,982
|
1869
| null | null |
finqa87
|
considering the reverse stock split , what was the percentual reduction of the common stock outstanding shares?
|
69.24%
|
subtract(const_1, divide(0.4, 1.3))
|
part ii item 5 .
market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities .
the company 2019s common stock is listed on the new york stock exchange .
prior to the separation of alcoa corporation from the company , the company 2019s common stock traded under the symbol 201caa . 201d in connection with the separation , on november 1 , 2016 , the company changed its stock symbol and its common stock began trading under the symbol 201carnc . 201d on october 5 , 2016 , the company 2019s common shareholders approved a 1-for-3 reverse stock split of the company 2019s outstanding and authorized shares of common stock ( the 201creverse stock split 201d ) .
as a result of the reverse stock split , every three shares of issued and outstanding common stock were combined into one issued and outstanding share of common stock , without any change in the par value per share .
the reverse stock split reduced the number of shares of common stock outstanding from approximately 1.3 billion shares to approximately 0.4 billion shares , and proportionately decreased the number of authorized shares of common stock from 1.8 billion to 0.6 billion shares .
the company 2019s common stock began trading on a reverse stock split-adjusted basis on october 6 , 2016 .
on november 1 , 2016 , the company completed the separation of its business into two independent , publicly traded companies : the company and alcoa corporation .
the separation was effected by means of a pro rata distribution by the company of 80.1% ( 80.1 % ) of the outstanding shares of alcoa corporation common stock to the company 2019s shareholders .
the company 2019s shareholders of record as of the close of business on october 20 , 2016 ( the 201crecord date 201d ) received one share of alcoa corporation common stock for every three shares of the company 2019s common stock held as of the record date .
the company retained 19.9% ( 19.9 % ) of the outstanding common stock of alcoa corporation immediately following the separation .
see disposition of retained shares in note c to the consolidated financial statements in part ii item 8 of this form 10-k .
the following table sets forth , for the periods indicated , the high and low sales prices and quarterly dividend amounts per share of the company 2019s common stock as reported on the new york stock exchange , adjusted to take into account the reverse stock split effected on october 6 , 2016 .
the prices listed below for those dates prior to november 1 , 2016 reflect stock trading prices of alcoa inc .
prior to the separation of alcoa corporation from the company on november 1 , 2016 , and therefore are not comparable to the company 2019s post-separation prices. .
|
the number of holders of record of common stock was approximately 12271 as of february 16 , 2018. .
|
| | quarter | 2017 high | 2017 low | 2017 dividend | 2017 high | 2017 low | dividend |
|---:|:--------------------------------------------------|:------------|:-----------|:----------------|:------------|:-----------|:-----------|
| 0 | first | $ 30.69 | $ 18.64 | $ 0.06 | $ 30.66 | $ 18.42 | $ 0.09 |
| 1 | second | 28.65 | 21.76 | 0.06 | 34.50 | 26.34 | 0.09 |
| 2 | third | 26.84 | 22.67 | 0.06 | 32.91 | 27.09 | 0.09 |
| 3 | fourth ( separation occurred on november 1 2016 ) | 27.85 | 22.74 | 0.06 | 32.10 | 16.75 | 0.09 |
| 4 | year | $ 30.69 | $ 18.64 | $ 0.24 | $ 34.50 | $ 16.75 | $ 0.36 |
|
part ii item 5 .
market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities .
the company 2019s common stock is listed on the new york stock exchange .
prior to the separation of alcoa corporation from the company , the company 2019s common stock traded under the symbol 201caa . 201d in connection with the separation , on november 1 , 2016 , the company changed its stock symbol and its common stock began trading under the symbol 201carnc . 201d on october 5 , 2016 , the company 2019s common shareholders approved a 1-for-3 reverse stock split of the company 2019s outstanding and authorized shares of common stock ( the 201creverse stock split 201d ) .
as a result of the reverse stock split , every three shares of issued and outstanding common stock were combined into one issued and outstanding share of common stock , without any change in the par value per share .
the reverse stock split reduced the number of shares of common stock outstanding from approximately 1.3 billion shares to approximately 0.4 billion shares , and proportionately decreased the number of authorized shares of common stock from 1.8 billion to 0.6 billion shares .
the company 2019s common stock began trading on a reverse stock split-adjusted basis on october 6 , 2016 .
on november 1 , 2016 , the company completed the separation of its business into two independent , publicly traded companies : the company and alcoa corporation .
the separation was effected by means of a pro rata distribution by the company of 80.1% ( 80.1 % ) of the outstanding shares of alcoa corporation common stock to the company 2019s shareholders .
the company 2019s shareholders of record as of the close of business on october 20 , 2016 ( the 201crecord date 201d ) received one share of alcoa corporation common stock for every three shares of the company 2019s common stock held as of the record date .
the company retained 19.9% ( 19.9 % ) of the outstanding common stock of alcoa corporation immediately following the separation .
see disposition of retained shares in note c to the consolidated financial statements in part ii item 8 of this form 10-k .
the following table sets forth , for the periods indicated , the high and low sales prices and quarterly dividend amounts per share of the company 2019s common stock as reported on the new york stock exchange , adjusted to take into account the reverse stock split effected on october 6 , 2016 .
the prices listed below for those dates prior to november 1 , 2016 reflect stock trading prices of alcoa inc .
prior to the separation of alcoa corporation from the company on november 1 , 2016 , and therefore are not comparable to the company 2019s post-separation prices. ._| | quarter | 2017 high | 2017 low | 2017 dividend | 2017 high | 2017 low | dividend |
|---:|:--------------------------------------------------|:------------|:-----------|:----------------|:------------|:-----------|:-----------|
| 0 | first | $ 30.69 | $ 18.64 | $ 0.06 | $ 30.66 | $ 18.42 | $ 0.09 |
| 1 | second | 28.65 | 21.76 | 0.06 | 34.50 | 26.34 | 0.09 |
| 2 | third | 26.84 | 22.67 | 0.06 | 32.91 | 27.09 | 0.09 |
| 3 | fourth ( separation occurred on november 1 2016 ) | 27.85 | 22.74 | 0.06 | 32.10 | 16.75 | 0.09 |
| 4 | year | $ 30.69 | $ 18.64 | $ 0.24 | $ 34.50 | $ 16.75 | $ 0.36 |_the number of holders of record of common stock was approximately 12271 as of february 16 , 2018. .
| 2,017
| 41
|
HWM
|
Howmet Aerospace
|
Industrials
|
Aerospace & Defense
|
Pittsburgh, Pennsylvania
|
2016-10-21
| 4,281
|
1888
|
considering the reverse stock split , what was the percentual reduction of the common stock outstanding shares?
|
69.24%
|
subtract(const_1, divide(0.4, 1.3))
|
part ii item 5 .
market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities .
the company 2019s common stock is listed on the new york stock exchange .
prior to the separation of alcoa corporation from the company , the company 2019s common stock traded under the symbol 201caa . 201d in connection with the separation , on november 1 , 2016 , the company changed its stock symbol and its common stock began trading under the symbol 201carnc . 201d on october 5 , 2016 , the company 2019s common shareholders approved a 1-for-3 reverse stock split of the company 2019s outstanding and authorized shares of common stock ( the 201creverse stock split 201d ) .
as a result of the reverse stock split , every three shares of issued and outstanding common stock were combined into one issued and outstanding share of common stock , without any change in the par value per share .
the reverse stock split reduced the number of shares of common stock outstanding from approximately 1.3 billion shares to approximately 0.4 billion shares , and proportionately decreased the number of authorized shares of common stock from 1.8 billion to 0.6 billion shares .
the company 2019s common stock began trading on a reverse stock split-adjusted basis on october 6 , 2016 .
on november 1 , 2016 , the company completed the separation of its business into two independent , publicly traded companies : the company and alcoa corporation .
the separation was effected by means of a pro rata distribution by the company of 80.1% ( 80.1 % ) of the outstanding shares of alcoa corporation common stock to the company 2019s shareholders .
the company 2019s shareholders of record as of the close of business on october 20 , 2016 ( the 201crecord date 201d ) received one share of alcoa corporation common stock for every three shares of the company 2019s common stock held as of the record date .
the company retained 19.9% ( 19.9 % ) of the outstanding common stock of alcoa corporation immediately following the separation .
see disposition of retained shares in note c to the consolidated financial statements in part ii item 8 of this form 10-k .
the following table sets forth , for the periods indicated , the high and low sales prices and quarterly dividend amounts per share of the company 2019s common stock as reported on the new york stock exchange , adjusted to take into account the reverse stock split effected on october 6 , 2016 .
the prices listed below for those dates prior to november 1 , 2016 reflect stock trading prices of alcoa inc .
prior to the separation of alcoa corporation from the company on november 1 , 2016 , and therefore are not comparable to the company 2019s post-separation prices. .
|
the number of holders of record of common stock was approximately 12271 as of february 16 , 2018. .
|
| | quarter | 2017 high | 2017 low | 2017 dividend | 2017 high | 2017 low | dividend |
|---:|:--------------------------------------------------|:------------|:-----------|:----------------|:------------|:-----------|:-----------|
| 0 | first | $ 30.69 | $ 18.64 | $ 0.06 | $ 30.66 | $ 18.42 | $ 0.09 |
| 1 | second | 28.65 | 21.76 | 0.06 | 34.50 | 26.34 | 0.09 |
| 2 | third | 26.84 | 22.67 | 0.06 | 32.91 | 27.09 | 0.09 |
| 3 | fourth ( separation occurred on november 1 2016 ) | 27.85 | 22.74 | 0.06 | 32.10 | 16.75 | 0.09 |
| 4 | year | $ 30.69 | $ 18.64 | $ 0.24 | $ 34.50 | $ 16.75 | $ 0.36 |
|
part ii item 5 .
market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities .
the company 2019s common stock is listed on the new york stock exchange .
prior to the separation of alcoa corporation from the company , the company 2019s common stock traded under the symbol 201caa . 201d in connection with the separation , on november 1 , 2016 , the company changed its stock symbol and its common stock began trading under the symbol 201carnc . 201d on october 5 , 2016 , the company 2019s common shareholders approved a 1-for-3 reverse stock split of the company 2019s outstanding and authorized shares of common stock ( the 201creverse stock split 201d ) .
as a result of the reverse stock split , every three shares of issued and outstanding common stock were combined into one issued and outstanding share of common stock , without any change in the par value per share .
the reverse stock split reduced the number of shares of common stock outstanding from approximately 1.3 billion shares to approximately 0.4 billion shares , and proportionately decreased the number of authorized shares of common stock from 1.8 billion to 0.6 billion shares .
the company 2019s common stock began trading on a reverse stock split-adjusted basis on october 6 , 2016 .
on november 1 , 2016 , the company completed the separation of its business into two independent , publicly traded companies : the company and alcoa corporation .
the separation was effected by means of a pro rata distribution by the company of 80.1% ( 80.1 % ) of the outstanding shares of alcoa corporation common stock to the company 2019s shareholders .
the company 2019s shareholders of record as of the close of business on october 20 , 2016 ( the 201crecord date 201d ) received one share of alcoa corporation common stock for every three shares of the company 2019s common stock held as of the record date .
the company retained 19.9% ( 19.9 % ) of the outstanding common stock of alcoa corporation immediately following the separation .
see disposition of retained shares in note c to the consolidated financial statements in part ii item 8 of this form 10-k .
the following table sets forth , for the periods indicated , the high and low sales prices and quarterly dividend amounts per share of the company 2019s common stock as reported on the new york stock exchange , adjusted to take into account the reverse stock split effected on october 6 , 2016 .
the prices listed below for those dates prior to november 1 , 2016 reflect stock trading prices of alcoa inc .
prior to the separation of alcoa corporation from the company on november 1 , 2016 , and therefore are not comparable to the company 2019s post-separation prices. ._| | quarter | 2017 high | 2017 low | 2017 dividend | 2017 high | 2017 low | dividend |
|---:|:--------------------------------------------------|:------------|:-----------|:----------------|:------------|:-----------|:-----------|
| 0 | first | $ 30.69 | $ 18.64 | $ 0.06 | $ 30.66 | $ 18.42 | $ 0.09 |
| 1 | second | 28.65 | 21.76 | 0.06 | 34.50 | 26.34 | 0.09 |
| 2 | third | 26.84 | 22.67 | 0.06 | 32.91 | 27.09 | 0.09 |
| 3 | fourth ( separation occurred on november 1 2016 ) | 27.85 | 22.74 | 0.06 | 32.10 | 16.75 | 0.09 |
| 4 | year | $ 30.69 | $ 18.64 | $ 0.24 | $ 34.50 | $ 16.75 | $ 0.36 |_the number of holders of record of common stock was approximately 12271 as of february 16 , 2018. .
| 2,017
| 41
|
HWM
|
Howmet Aerospace
|
Industrials
|
Aerospace & Defense
|
Pittsburgh, Pennsylvania
|
2016-10-21
| 4,281
|
1888
| null | null |
finqa88
|
as of december 312019 what was the percentage of restricted cash that was proceeds from the issuance of tax-exempt bonds
|
39.3%
|
divide(93.1, 236.6)
|
in our primary disbursement accounts which were reclassified as accounts payable and other accrued liabilities on our consolidated balance sheet .
concentration of credit risk financial instruments that potentially subject us to concentrations of credit risk consist of cash and cash equivalents , trade accounts receivable and derivative instruments .
we place our cash and cash equivalents with high quality financial institutions .
such balances may be in excess of fdic insured limits .
in order to manage the related credit exposure , we continually monitor the credit worthiness of the financial institutions where we have deposits .
concentrations of credit risk with respect to trade accounts receivable are limited due to the wide variety of customers and markets in which we provide services , as well as the dispersion of our operations across many geographic areas .
we provide services to commercial , industrial , municipal and residential customers in the united states and puerto rico .
we perform ongoing credit evaluations of our customers , but do not require collateral to support customer receivables .
we establish an allowance for doubtful accounts based on various factors including the credit risk of specific customers , age of receivables outstanding , historical trends , economic conditions and other information .
no customer exceeded 5% ( 5 % ) of our outstanding accounts receivable balance at december 31 , 2009 or 2008 .
accounts receivable , net of allowance for doubtful accounts accounts receivable represent receivables from customers for collection , transfer , recycling , disposal and other services .
our receivables are recorded when billed or when the related revenue is earned , if earlier , and represent claims against third parties that will be settled in cash .
the carrying value of our receivables , net of the allowance for doubtful accounts , represents their estimated net realizable value .
provisions for doubtful accounts are evaluated on a monthly basis and are recorded based on our historical collection experience , the age of the receivables , specific customer information and economic conditions .
we also review outstanding balances on an account-specific basis .
in general , reserves are provided for accounts receivable in excess of ninety days old .
past due receivable balances are written-off when our collection efforts have been unsuccess- ful in collecting amounts due .
the following table reflects the activity in our allowance for doubtful accounts for the years ended december 31 , 2009 , 2008 and 2007: .
|
subsequent to our acquisition of allied , we recorded a provision for doubtful accounts of $ 14.2 million to adjust the allowance acquired from allied to conform to republic 2019s accounting policies .
we also recorded $ 5.4 million to provide for specific bankruptcy exposures in 2008 .
in 2007 , we recorded a $ 4.3 million reduction in our allowance for doubtful accounts as a result of refining our estimate of the allowance based on our historical collection experience .
restricted cash as of december 31 , 2009 , we had $ 236.6 million of restricted cash , of which $ 93.1 million was proceeds from the issuance of tax-exempt bonds and other tax-exempt financings and will be used to fund capital republic services , inc .
and subsidiaries notes to consolidated financial statements , continued .
|
| | | 2009 | 2008 | 2007 |
|---:|:-----------------------------|:---------------|:---------------|:-------------|
| 0 | balance at beginning of year | $ 65.7 | $ 14.7 | $ 18.8 |
| 1 | additions charged to expense | 27.3 | 36.5 | 3.9 |
| 2 | accounts written-off | -37.8 ( 37.8 ) | -12.7 ( 12.7 ) | -7.8 ( 7.8 ) |
| 3 | acquisitions | - | 27.2 | -0.2 ( 0.2 ) |
| 4 | balance at end of year | $ 55.2 | $ 65.7 | $ 14.7 |
|
in our primary disbursement accounts which were reclassified as accounts payable and other accrued liabilities on our consolidated balance sheet .
concentration of credit risk financial instruments that potentially subject us to concentrations of credit risk consist of cash and cash equivalents , trade accounts receivable and derivative instruments .
we place our cash and cash equivalents with high quality financial institutions .
such balances may be in excess of fdic insured limits .
in order to manage the related credit exposure , we continually monitor the credit worthiness of the financial institutions where we have deposits .
concentrations of credit risk with respect to trade accounts receivable are limited due to the wide variety of customers and markets in which we provide services , as well as the dispersion of our operations across many geographic areas .
we provide services to commercial , industrial , municipal and residential customers in the united states and puerto rico .
we perform ongoing credit evaluations of our customers , but do not require collateral to support customer receivables .
we establish an allowance for doubtful accounts based on various factors including the credit risk of specific customers , age of receivables outstanding , historical trends , economic conditions and other information .
no customer exceeded 5% ( 5 % ) of our outstanding accounts receivable balance at december 31 , 2009 or 2008 .
accounts receivable , net of allowance for doubtful accounts accounts receivable represent receivables from customers for collection , transfer , recycling , disposal and other services .
our receivables are recorded when billed or when the related revenue is earned , if earlier , and represent claims against third parties that will be settled in cash .
the carrying value of our receivables , net of the allowance for doubtful accounts , represents their estimated net realizable value .
provisions for doubtful accounts are evaluated on a monthly basis and are recorded based on our historical collection experience , the age of the receivables , specific customer information and economic conditions .
we also review outstanding balances on an account-specific basis .
in general , reserves are provided for accounts receivable in excess of ninety days old .
past due receivable balances are written-off when our collection efforts have been unsuccess- ful in collecting amounts due .
the following table reflects the activity in our allowance for doubtful accounts for the years ended december 31 , 2009 , 2008 and 2007: ._| | | 2009 | 2008 | 2007 |
|---:|:-----------------------------|:---------------|:---------------|:-------------|
| 0 | balance at beginning of year | $ 65.7 | $ 14.7 | $ 18.8 |
| 1 | additions charged to expense | 27.3 | 36.5 | 3.9 |
| 2 | accounts written-off | -37.8 ( 37.8 ) | -12.7 ( 12.7 ) | -7.8 ( 7.8 ) |
| 3 | acquisitions | - | 27.2 | -0.2 ( 0.2 ) |
| 4 | balance at end of year | $ 55.2 | $ 65.7 | $ 14.7 |_subsequent to our acquisition of allied , we recorded a provision for doubtful accounts of $ 14.2 million to adjust the allowance acquired from allied to conform to republic 2019s accounting policies .
we also recorded $ 5.4 million to provide for specific bankruptcy exposures in 2008 .
in 2007 , we recorded a $ 4.3 million reduction in our allowance for doubtful accounts as a result of refining our estimate of the allowance based on our historical collection experience .
restricted cash as of december 31 , 2009 , we had $ 236.6 million of restricted cash , of which $ 93.1 million was proceeds from the issuance of tax-exempt bonds and other tax-exempt financings and will be used to fund capital republic services , inc .
and subsidiaries notes to consolidated financial statements , continued .
| 2,009
| 100
|
RSG
|
Republic Services
|
Industrials
|
Environmental & Facilities Services
|
Phoenix, Arizona
|
2008-12-05
| 1,060,391
|
1998 (1981)
|
as of december 312019 what was the percentage of restricted cash that was proceeds from the issuance of tax-exempt bonds
|
39.3%
|
divide(93.1, 236.6)
|
in our primary disbursement accounts which were reclassified as accounts payable and other accrued liabilities on our consolidated balance sheet .
concentration of credit risk financial instruments that potentially subject us to concentrations of credit risk consist of cash and cash equivalents , trade accounts receivable and derivative instruments .
we place our cash and cash equivalents with high quality financial institutions .
such balances may be in excess of fdic insured limits .
in order to manage the related credit exposure , we continually monitor the credit worthiness of the financial institutions where we have deposits .
concentrations of credit risk with respect to trade accounts receivable are limited due to the wide variety of customers and markets in which we provide services , as well as the dispersion of our operations across many geographic areas .
we provide services to commercial , industrial , municipal and residential customers in the united states and puerto rico .
we perform ongoing credit evaluations of our customers , but do not require collateral to support customer receivables .
we establish an allowance for doubtful accounts based on various factors including the credit risk of specific customers , age of receivables outstanding , historical trends , economic conditions and other information .
no customer exceeded 5% ( 5 % ) of our outstanding accounts receivable balance at december 31 , 2009 or 2008 .
accounts receivable , net of allowance for doubtful accounts accounts receivable represent receivables from customers for collection , transfer , recycling , disposal and other services .
our receivables are recorded when billed or when the related revenue is earned , if earlier , and represent claims against third parties that will be settled in cash .
the carrying value of our receivables , net of the allowance for doubtful accounts , represents their estimated net realizable value .
provisions for doubtful accounts are evaluated on a monthly basis and are recorded based on our historical collection experience , the age of the receivables , specific customer information and economic conditions .
we also review outstanding balances on an account-specific basis .
in general , reserves are provided for accounts receivable in excess of ninety days old .
past due receivable balances are written-off when our collection efforts have been unsuccess- ful in collecting amounts due .
the following table reflects the activity in our allowance for doubtful accounts for the years ended december 31 , 2009 , 2008 and 2007: .
|
subsequent to our acquisition of allied , we recorded a provision for doubtful accounts of $ 14.2 million to adjust the allowance acquired from allied to conform to republic 2019s accounting policies .
we also recorded $ 5.4 million to provide for specific bankruptcy exposures in 2008 .
in 2007 , we recorded a $ 4.3 million reduction in our allowance for doubtful accounts as a result of refining our estimate of the allowance based on our historical collection experience .
restricted cash as of december 31 , 2009 , we had $ 236.6 million of restricted cash , of which $ 93.1 million was proceeds from the issuance of tax-exempt bonds and other tax-exempt financings and will be used to fund capital republic services , inc .
and subsidiaries notes to consolidated financial statements , continued .
|
| | | 2009 | 2008 | 2007 |
|---:|:-----------------------------|:---------------|:---------------|:-------------|
| 0 | balance at beginning of year | $ 65.7 | $ 14.7 | $ 18.8 |
| 1 | additions charged to expense | 27.3 | 36.5 | 3.9 |
| 2 | accounts written-off | -37.8 ( 37.8 ) | -12.7 ( 12.7 ) | -7.8 ( 7.8 ) |
| 3 | acquisitions | - | 27.2 | -0.2 ( 0.2 ) |
| 4 | balance at end of year | $ 55.2 | $ 65.7 | $ 14.7 |
|
in our primary disbursement accounts which were reclassified as accounts payable and other accrued liabilities on our consolidated balance sheet .
concentration of credit risk financial instruments that potentially subject us to concentrations of credit risk consist of cash and cash equivalents , trade accounts receivable and derivative instruments .
we place our cash and cash equivalents with high quality financial institutions .
such balances may be in excess of fdic insured limits .
in order to manage the related credit exposure , we continually monitor the credit worthiness of the financial institutions where we have deposits .
concentrations of credit risk with respect to trade accounts receivable are limited due to the wide variety of customers and markets in which we provide services , as well as the dispersion of our operations across many geographic areas .
we provide services to commercial , industrial , municipal and residential customers in the united states and puerto rico .
we perform ongoing credit evaluations of our customers , but do not require collateral to support customer receivables .
we establish an allowance for doubtful accounts based on various factors including the credit risk of specific customers , age of receivables outstanding , historical trends , economic conditions and other information .
no customer exceeded 5% ( 5 % ) of our outstanding accounts receivable balance at december 31 , 2009 or 2008 .
accounts receivable , net of allowance for doubtful accounts accounts receivable represent receivables from customers for collection , transfer , recycling , disposal and other services .
our receivables are recorded when billed or when the related revenue is earned , if earlier , and represent claims against third parties that will be settled in cash .
the carrying value of our receivables , net of the allowance for doubtful accounts , represents their estimated net realizable value .
provisions for doubtful accounts are evaluated on a monthly basis and are recorded based on our historical collection experience , the age of the receivables , specific customer information and economic conditions .
we also review outstanding balances on an account-specific basis .
in general , reserves are provided for accounts receivable in excess of ninety days old .
past due receivable balances are written-off when our collection efforts have been unsuccess- ful in collecting amounts due .
the following table reflects the activity in our allowance for doubtful accounts for the years ended december 31 , 2009 , 2008 and 2007: ._| | | 2009 | 2008 | 2007 |
|---:|:-----------------------------|:---------------|:---------------|:-------------|
| 0 | balance at beginning of year | $ 65.7 | $ 14.7 | $ 18.8 |
| 1 | additions charged to expense | 27.3 | 36.5 | 3.9 |
| 2 | accounts written-off | -37.8 ( 37.8 ) | -12.7 ( 12.7 ) | -7.8 ( 7.8 ) |
| 3 | acquisitions | - | 27.2 | -0.2 ( 0.2 ) |
| 4 | balance at end of year | $ 55.2 | $ 65.7 | $ 14.7 |_subsequent to our acquisition of allied , we recorded a provision for doubtful accounts of $ 14.2 million to adjust the allowance acquired from allied to conform to republic 2019s accounting policies .
we also recorded $ 5.4 million to provide for specific bankruptcy exposures in 2008 .
in 2007 , we recorded a $ 4.3 million reduction in our allowance for doubtful accounts as a result of refining our estimate of the allowance based on our historical collection experience .
restricted cash as of december 31 , 2009 , we had $ 236.6 million of restricted cash , of which $ 93.1 million was proceeds from the issuance of tax-exempt bonds and other tax-exempt financings and will be used to fund capital republic services , inc .
and subsidiaries notes to consolidated financial statements , continued .
| 2,009
| 100
|
RSG
|
Republic Services
|
Industrials
|
Environmental & Facilities Services
|
Phoenix, Arizona
|
2008-12-05
| 1,060,391
|
1998 (1981)
| null | null |
finqa89
|
what is the carrying value of notes due by 2017 ? in millions $ .
|
2448
|
add(add(1000, 750), 698)
|
long-term borrowings the carrying value and fair value of long-term borrowings estimated using market prices at december 31 , 2013 included the following : ( in millions ) maturity amount unamortized discount carrying value fair value .
|
long-term borrowings at december 31 , 2012 had a carrying value of $ 5.687 billion and a fair value of $ 6.275 billion determined using market prices at the end of december 2012 .
2015 and 2022 notes .
in may 2012 , the company issued $ 1.5 billion in aggregate principal amount of unsecured unsubordinated obligations .
these notes were issued as two separate series of senior debt securities including $ 750 million of 1.375% ( 1.375 % ) notes maturing in june 2015 ( the 201c2015 notes 201d ) and $ 750 million of 3.375% ( 3.375 % ) notes maturing in june 2022 ( the 201c2022 notes 201d ) .
net proceeds were used to fund the repurchase of blackrock 2019s common stock and series b preferred from barclays and affiliates and for general corporate purposes .
interest on the 2015 notes and the 2022 notes of approximately $ 10 million and $ 25 million per year , respectively , is payable semi-annually on june 1 and december 1 of each year , which commenced december 1 , 2012 .
the 2015 notes and 2022 notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price .
the 201cmake-whole 201d redemption price represents a price , subject to the specific terms of the 2015 and 2022 notes and related indenture , that is the greater of ( a ) par value and ( b ) the present value of future payments that will not be paid because of an early redemption , which is discounted at a fixed spread over a comparable treasury security .
the 2015 notes and 2022 notes were issued at a discount of $ 5 million that is being amortized over the term of the notes .
the company incurred approximately $ 7 million of debt issuance costs , which are being amortized over the respective terms of the 2015 notes and 2022 notes .
at december 31 , 2013 , $ 5 million of unamortized debt issuance costs was included in other assets on the consolidated statement of financial condition .
2013 and 2021 notes .
in may 2011 , the company issued $ 1.5 billion in aggregate principal amount of unsecured unsubordinated obligations .
these notes were issued as two separate series of senior debt securities including $ 750 million of 4.25% ( 4.25 % ) notes maturing in may 2021 and $ 750 million of floating rate notes ( 201c2013 floating rate notes 201d ) , which were repaid in may 2013 at maturity .
net proceeds of this offering were used to fund the repurchase of blackrock 2019s series b preferred from affiliates of merrill lynch & co. , inc .
( 201cmerrill lynch 201d ) .
interest on the 4.25% ( 4.25 % ) notes due in 2021 ( 201c2021 notes 201d ) is payable semi-annually on may 24 and november 24 of each year , which commenced november 24 , 2011 , and is approximately $ 32 million per year .
the 2021 notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price .
the 2021 notes were issued at a discount of $ 4 million that is being amortized over the term of the notes .
the company incurred approximately $ 7 million of debt issuance costs for the $ 1.5 billion note issuances , which are being amortized over the respective terms of the notes .
at december 31 , 2013 , $ 3 million of unamortized debt issuance costs was included in other assets on the consolidated statement of financial condition .
in may 2011 , in conjunction with the issuance of the 2013 floating rate notes , the company entered into a $ 750 million notional interest rate swap maturing in 2013 to hedge the future cash flows of its obligation at a fixed rate of 1.03% ( 1.03 % ) .
during the second quarter of 2013 , the interest rate swap matured and the 2013 floating rate notes were fully repaid .
2012 , 2014 and 2019 notes .
in december 2009 , the company issued $ 2.5 billion in aggregate principal amount of unsecured and unsubordinated obligations .
these notes were issued as three separate series of senior debt securities including $ 0.5 billion of 2.25% ( 2.25 % ) notes , which were repaid in december 2012 , $ 1.0 billion of 3.50% ( 3.50 % ) notes and $ 1.0 billion of 5.0% ( 5.0 % ) notes maturing in december 2014 and 2019 , respectively .
net proceeds of this offering were used to repay borrowings under the cp program , which was used to finance a portion of the acquisition of barclays global investors ( 201cbgi 201d ) from barclays on december 1 , 2009 ( the 201cbgi transaction 201d ) , and for general corporate purposes .
interest on the 2014 notes and 2019 notes of approximately $ 35 million and $ 50 million per year , respectively , is payable semi-annually in arrears on june 10 and december 10 of each year .
these notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price .
these notes were issued collectively at a discount of $ 5 million , which is being amortized over the respective terms of the notes .
the company incurred approximately $ 13 million of debt issuance costs , which are being amortized over the respective terms of these notes .
at december 31 , 2013 , $ 4 million of unamortized debt issuance costs was included in other assets on the consolidated statement of financial condition .
2017 notes .
in september 2007 , the company issued $ 700 million in aggregate principal amount of 6.25% ( 6.25 % ) senior unsecured and unsubordinated notes maturing on september 15 , 2017 ( the 201c2017 notes 201d ) .
a portion of the net proceeds of the 2017 notes was used to fund the initial cash payment for the acquisition of the fund of funds business of quellos and the remainder was used for general corporate purposes .
interest is payable semi-annually in arrears on march 15 and september 15 of each year , or approximately $ 44 million per year .
the 2017 notes may be redeemed prior .
|
| | ( in millions ) | maturity amount | unamortized discount | carrying value | fair value |
|---:|:----------------------------------|:------------------|:-----------------------|:-----------------|:-------------|
| 0 | 3.50% ( 3.50 % ) notes due 2014 | $ 1000 | $ 2014 | $ 1000 | $ 1029 |
| 1 | 1.375% ( 1.375 % ) notes due 2015 | 750 | 2014 | 750 | 759 |
| 2 | 6.25% ( 6.25 % ) notes due 2017 | 700 | -2 ( 2 ) | 698 | 812 |
| 3 | 5.00% ( 5.00 % ) notes due 2019 | 1000 | -2 ( 2 ) | 998 | 1140 |
| 4 | 4.25% ( 4.25 % ) notes due 2021 | 750 | -3 ( 3 ) | 747 | 799 |
| 5 | 3.375% ( 3.375 % ) notes due 2022 | 750 | -4 ( 4 ) | 746 | 745 |
| 6 | total long-term borrowings | $ 4950 | $ -11 ( 11 ) | $ 4939 | $ 5284 |
|
long-term borrowings the carrying value and fair value of long-term borrowings estimated using market prices at december 31 , 2013 included the following : ( in millions ) maturity amount unamortized discount carrying value fair value ._| | ( in millions ) | maturity amount | unamortized discount | carrying value | fair value |
|---:|:----------------------------------|:------------------|:-----------------------|:-----------------|:-------------|
| 0 | 3.50% ( 3.50 % ) notes due 2014 | $ 1000 | $ 2014 | $ 1000 | $ 1029 |
| 1 | 1.375% ( 1.375 % ) notes due 2015 | 750 | 2014 | 750 | 759 |
| 2 | 6.25% ( 6.25 % ) notes due 2017 | 700 | -2 ( 2 ) | 698 | 812 |
| 3 | 5.00% ( 5.00 % ) notes due 2019 | 1000 | -2 ( 2 ) | 998 | 1140 |
| 4 | 4.25% ( 4.25 % ) notes due 2021 | 750 | -3 ( 3 ) | 747 | 799 |
| 5 | 3.375% ( 3.375 % ) notes due 2022 | 750 | -4 ( 4 ) | 746 | 745 |
| 6 | total long-term borrowings | $ 4950 | $ -11 ( 11 ) | $ 4939 | $ 5284 |_long-term borrowings at december 31 , 2012 had a carrying value of $ 5.687 billion and a fair value of $ 6.275 billion determined using market prices at the end of december 2012 .
2015 and 2022 notes .
in may 2012 , the company issued $ 1.5 billion in aggregate principal amount of unsecured unsubordinated obligations .
these notes were issued as two separate series of senior debt securities including $ 750 million of 1.375% ( 1.375 % ) notes maturing in june 2015 ( the 201c2015 notes 201d ) and $ 750 million of 3.375% ( 3.375 % ) notes maturing in june 2022 ( the 201c2022 notes 201d ) .
net proceeds were used to fund the repurchase of blackrock 2019s common stock and series b preferred from barclays and affiliates and for general corporate purposes .
interest on the 2015 notes and the 2022 notes of approximately $ 10 million and $ 25 million per year , respectively , is payable semi-annually on june 1 and december 1 of each year , which commenced december 1 , 2012 .
the 2015 notes and 2022 notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price .
the 201cmake-whole 201d redemption price represents a price , subject to the specific terms of the 2015 and 2022 notes and related indenture , that is the greater of ( a ) par value and ( b ) the present value of future payments that will not be paid because of an early redemption , which is discounted at a fixed spread over a comparable treasury security .
the 2015 notes and 2022 notes were issued at a discount of $ 5 million that is being amortized over the term of the notes .
the company incurred approximately $ 7 million of debt issuance costs , which are being amortized over the respective terms of the 2015 notes and 2022 notes .
at december 31 , 2013 , $ 5 million of unamortized debt issuance costs was included in other assets on the consolidated statement of financial condition .
2013 and 2021 notes .
in may 2011 , the company issued $ 1.5 billion in aggregate principal amount of unsecured unsubordinated obligations .
these notes were issued as two separate series of senior debt securities including $ 750 million of 4.25% ( 4.25 % ) notes maturing in may 2021 and $ 750 million of floating rate notes ( 201c2013 floating rate notes 201d ) , which were repaid in may 2013 at maturity .
net proceeds of this offering were used to fund the repurchase of blackrock 2019s series b preferred from affiliates of merrill lynch & co. , inc .
( 201cmerrill lynch 201d ) .
interest on the 4.25% ( 4.25 % ) notes due in 2021 ( 201c2021 notes 201d ) is payable semi-annually on may 24 and november 24 of each year , which commenced november 24 , 2011 , and is approximately $ 32 million per year .
the 2021 notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price .
the 2021 notes were issued at a discount of $ 4 million that is being amortized over the term of the notes .
the company incurred approximately $ 7 million of debt issuance costs for the $ 1.5 billion note issuances , which are being amortized over the respective terms of the notes .
at december 31 , 2013 , $ 3 million of unamortized debt issuance costs was included in other assets on the consolidated statement of financial condition .
in may 2011 , in conjunction with the issuance of the 2013 floating rate notes , the company entered into a $ 750 million notional interest rate swap maturing in 2013 to hedge the future cash flows of its obligation at a fixed rate of 1.03% ( 1.03 % ) .
during the second quarter of 2013 , the interest rate swap matured and the 2013 floating rate notes were fully repaid .
2012 , 2014 and 2019 notes .
in december 2009 , the company issued $ 2.5 billion in aggregate principal amount of unsecured and unsubordinated obligations .
these notes were issued as three separate series of senior debt securities including $ 0.5 billion of 2.25% ( 2.25 % ) notes , which were repaid in december 2012 , $ 1.0 billion of 3.50% ( 3.50 % ) notes and $ 1.0 billion of 5.0% ( 5.0 % ) notes maturing in december 2014 and 2019 , respectively .
net proceeds of this offering were used to repay borrowings under the cp program , which was used to finance a portion of the acquisition of barclays global investors ( 201cbgi 201d ) from barclays on december 1 , 2009 ( the 201cbgi transaction 201d ) , and for general corporate purposes .
interest on the 2014 notes and 2019 notes of approximately $ 35 million and $ 50 million per year , respectively , is payable semi-annually in arrears on june 10 and december 10 of each year .
these notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price .
these notes were issued collectively at a discount of $ 5 million , which is being amortized over the respective terms of the notes .
the company incurred approximately $ 13 million of debt issuance costs , which are being amortized over the respective terms of these notes .
at december 31 , 2013 , $ 4 million of unamortized debt issuance costs was included in other assets on the consolidated statement of financial condition .
2017 notes .
in september 2007 , the company issued $ 700 million in aggregate principal amount of 6.25% ( 6.25 % ) senior unsecured and unsubordinated notes maturing on september 15 , 2017 ( the 201c2017 notes 201d ) .
a portion of the net proceeds of the 2017 notes was used to fund the initial cash payment for the acquisition of the fund of funds business of quellos and the remainder was used for general corporate purposes .
interest is payable semi-annually in arrears on march 15 and september 15 of each year , or approximately $ 44 million per year .
the 2017 notes may be redeemed prior .
| 2,013
| 124
|
BLK
|
BlackRock
|
Financials
|
Asset Management & Custody Banks
|
New York City, New York
|
2011-04-04
| 2,012,383
|
1988
|
what is the carrying value of notes due by 2017 ? in millions $ .
|
2448
|
add(add(1000, 750), 698)
|
long-term borrowings the carrying value and fair value of long-term borrowings estimated using market prices at december 31 , 2013 included the following : ( in millions ) maturity amount unamortized discount carrying value fair value .
|
long-term borrowings at december 31 , 2012 had a carrying value of $ 5.687 billion and a fair value of $ 6.275 billion determined using market prices at the end of december 2012 .
2015 and 2022 notes .
in may 2012 , the company issued $ 1.5 billion in aggregate principal amount of unsecured unsubordinated obligations .
these notes were issued as two separate series of senior debt securities including $ 750 million of 1.375% ( 1.375 % ) notes maturing in june 2015 ( the 201c2015 notes 201d ) and $ 750 million of 3.375% ( 3.375 % ) notes maturing in june 2022 ( the 201c2022 notes 201d ) .
net proceeds were used to fund the repurchase of blackrock 2019s common stock and series b preferred from barclays and affiliates and for general corporate purposes .
interest on the 2015 notes and the 2022 notes of approximately $ 10 million and $ 25 million per year , respectively , is payable semi-annually on june 1 and december 1 of each year , which commenced december 1 , 2012 .
the 2015 notes and 2022 notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price .
the 201cmake-whole 201d redemption price represents a price , subject to the specific terms of the 2015 and 2022 notes and related indenture , that is the greater of ( a ) par value and ( b ) the present value of future payments that will not be paid because of an early redemption , which is discounted at a fixed spread over a comparable treasury security .
the 2015 notes and 2022 notes were issued at a discount of $ 5 million that is being amortized over the term of the notes .
the company incurred approximately $ 7 million of debt issuance costs , which are being amortized over the respective terms of the 2015 notes and 2022 notes .
at december 31 , 2013 , $ 5 million of unamortized debt issuance costs was included in other assets on the consolidated statement of financial condition .
2013 and 2021 notes .
in may 2011 , the company issued $ 1.5 billion in aggregate principal amount of unsecured unsubordinated obligations .
these notes were issued as two separate series of senior debt securities including $ 750 million of 4.25% ( 4.25 % ) notes maturing in may 2021 and $ 750 million of floating rate notes ( 201c2013 floating rate notes 201d ) , which were repaid in may 2013 at maturity .
net proceeds of this offering were used to fund the repurchase of blackrock 2019s series b preferred from affiliates of merrill lynch & co. , inc .
( 201cmerrill lynch 201d ) .
interest on the 4.25% ( 4.25 % ) notes due in 2021 ( 201c2021 notes 201d ) is payable semi-annually on may 24 and november 24 of each year , which commenced november 24 , 2011 , and is approximately $ 32 million per year .
the 2021 notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price .
the 2021 notes were issued at a discount of $ 4 million that is being amortized over the term of the notes .
the company incurred approximately $ 7 million of debt issuance costs for the $ 1.5 billion note issuances , which are being amortized over the respective terms of the notes .
at december 31 , 2013 , $ 3 million of unamortized debt issuance costs was included in other assets on the consolidated statement of financial condition .
in may 2011 , in conjunction with the issuance of the 2013 floating rate notes , the company entered into a $ 750 million notional interest rate swap maturing in 2013 to hedge the future cash flows of its obligation at a fixed rate of 1.03% ( 1.03 % ) .
during the second quarter of 2013 , the interest rate swap matured and the 2013 floating rate notes were fully repaid .
2012 , 2014 and 2019 notes .
in december 2009 , the company issued $ 2.5 billion in aggregate principal amount of unsecured and unsubordinated obligations .
these notes were issued as three separate series of senior debt securities including $ 0.5 billion of 2.25% ( 2.25 % ) notes , which were repaid in december 2012 , $ 1.0 billion of 3.50% ( 3.50 % ) notes and $ 1.0 billion of 5.0% ( 5.0 % ) notes maturing in december 2014 and 2019 , respectively .
net proceeds of this offering were used to repay borrowings under the cp program , which was used to finance a portion of the acquisition of barclays global investors ( 201cbgi 201d ) from barclays on december 1 , 2009 ( the 201cbgi transaction 201d ) , and for general corporate purposes .
interest on the 2014 notes and 2019 notes of approximately $ 35 million and $ 50 million per year , respectively , is payable semi-annually in arrears on june 10 and december 10 of each year .
these notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price .
these notes were issued collectively at a discount of $ 5 million , which is being amortized over the respective terms of the notes .
the company incurred approximately $ 13 million of debt issuance costs , which are being amortized over the respective terms of these notes .
at december 31 , 2013 , $ 4 million of unamortized debt issuance costs was included in other assets on the consolidated statement of financial condition .
2017 notes .
in september 2007 , the company issued $ 700 million in aggregate principal amount of 6.25% ( 6.25 % ) senior unsecured and unsubordinated notes maturing on september 15 , 2017 ( the 201c2017 notes 201d ) .
a portion of the net proceeds of the 2017 notes was used to fund the initial cash payment for the acquisition of the fund of funds business of quellos and the remainder was used for general corporate purposes .
interest is payable semi-annually in arrears on march 15 and september 15 of each year , or approximately $ 44 million per year .
the 2017 notes may be redeemed prior .
|
| | ( in millions ) | maturity amount | unamortized discount | carrying value | fair value |
|---:|:----------------------------------|:------------------|:-----------------------|:-----------------|:-------------|
| 0 | 3.50% ( 3.50 % ) notes due 2014 | $ 1000 | $ 2014 | $ 1000 | $ 1029 |
| 1 | 1.375% ( 1.375 % ) notes due 2015 | 750 | 2014 | 750 | 759 |
| 2 | 6.25% ( 6.25 % ) notes due 2017 | 700 | -2 ( 2 ) | 698 | 812 |
| 3 | 5.00% ( 5.00 % ) notes due 2019 | 1000 | -2 ( 2 ) | 998 | 1140 |
| 4 | 4.25% ( 4.25 % ) notes due 2021 | 750 | -3 ( 3 ) | 747 | 799 |
| 5 | 3.375% ( 3.375 % ) notes due 2022 | 750 | -4 ( 4 ) | 746 | 745 |
| 6 | total long-term borrowings | $ 4950 | $ -11 ( 11 ) | $ 4939 | $ 5284 |
|
long-term borrowings the carrying value and fair value of long-term borrowings estimated using market prices at december 31 , 2013 included the following : ( in millions ) maturity amount unamortized discount carrying value fair value ._| | ( in millions ) | maturity amount | unamortized discount | carrying value | fair value |
|---:|:----------------------------------|:------------------|:-----------------------|:-----------------|:-------------|
| 0 | 3.50% ( 3.50 % ) notes due 2014 | $ 1000 | $ 2014 | $ 1000 | $ 1029 |
| 1 | 1.375% ( 1.375 % ) notes due 2015 | 750 | 2014 | 750 | 759 |
| 2 | 6.25% ( 6.25 % ) notes due 2017 | 700 | -2 ( 2 ) | 698 | 812 |
| 3 | 5.00% ( 5.00 % ) notes due 2019 | 1000 | -2 ( 2 ) | 998 | 1140 |
| 4 | 4.25% ( 4.25 % ) notes due 2021 | 750 | -3 ( 3 ) | 747 | 799 |
| 5 | 3.375% ( 3.375 % ) notes due 2022 | 750 | -4 ( 4 ) | 746 | 745 |
| 6 | total long-term borrowings | $ 4950 | $ -11 ( 11 ) | $ 4939 | $ 5284 |_long-term borrowings at december 31 , 2012 had a carrying value of $ 5.687 billion and a fair value of $ 6.275 billion determined using market prices at the end of december 2012 .
2015 and 2022 notes .
in may 2012 , the company issued $ 1.5 billion in aggregate principal amount of unsecured unsubordinated obligations .
these notes were issued as two separate series of senior debt securities including $ 750 million of 1.375% ( 1.375 % ) notes maturing in june 2015 ( the 201c2015 notes 201d ) and $ 750 million of 3.375% ( 3.375 % ) notes maturing in june 2022 ( the 201c2022 notes 201d ) .
net proceeds were used to fund the repurchase of blackrock 2019s common stock and series b preferred from barclays and affiliates and for general corporate purposes .
interest on the 2015 notes and the 2022 notes of approximately $ 10 million and $ 25 million per year , respectively , is payable semi-annually on june 1 and december 1 of each year , which commenced december 1 , 2012 .
the 2015 notes and 2022 notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price .
the 201cmake-whole 201d redemption price represents a price , subject to the specific terms of the 2015 and 2022 notes and related indenture , that is the greater of ( a ) par value and ( b ) the present value of future payments that will not be paid because of an early redemption , which is discounted at a fixed spread over a comparable treasury security .
the 2015 notes and 2022 notes were issued at a discount of $ 5 million that is being amortized over the term of the notes .
the company incurred approximately $ 7 million of debt issuance costs , which are being amortized over the respective terms of the 2015 notes and 2022 notes .
at december 31 , 2013 , $ 5 million of unamortized debt issuance costs was included in other assets on the consolidated statement of financial condition .
2013 and 2021 notes .
in may 2011 , the company issued $ 1.5 billion in aggregate principal amount of unsecured unsubordinated obligations .
these notes were issued as two separate series of senior debt securities including $ 750 million of 4.25% ( 4.25 % ) notes maturing in may 2021 and $ 750 million of floating rate notes ( 201c2013 floating rate notes 201d ) , which were repaid in may 2013 at maturity .
net proceeds of this offering were used to fund the repurchase of blackrock 2019s series b preferred from affiliates of merrill lynch & co. , inc .
( 201cmerrill lynch 201d ) .
interest on the 4.25% ( 4.25 % ) notes due in 2021 ( 201c2021 notes 201d ) is payable semi-annually on may 24 and november 24 of each year , which commenced november 24 , 2011 , and is approximately $ 32 million per year .
the 2021 notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price .
the 2021 notes were issued at a discount of $ 4 million that is being amortized over the term of the notes .
the company incurred approximately $ 7 million of debt issuance costs for the $ 1.5 billion note issuances , which are being amortized over the respective terms of the notes .
at december 31 , 2013 , $ 3 million of unamortized debt issuance costs was included in other assets on the consolidated statement of financial condition .
in may 2011 , in conjunction with the issuance of the 2013 floating rate notes , the company entered into a $ 750 million notional interest rate swap maturing in 2013 to hedge the future cash flows of its obligation at a fixed rate of 1.03% ( 1.03 % ) .
during the second quarter of 2013 , the interest rate swap matured and the 2013 floating rate notes were fully repaid .
2012 , 2014 and 2019 notes .
in december 2009 , the company issued $ 2.5 billion in aggregate principal amount of unsecured and unsubordinated obligations .
these notes were issued as three separate series of senior debt securities including $ 0.5 billion of 2.25% ( 2.25 % ) notes , which were repaid in december 2012 , $ 1.0 billion of 3.50% ( 3.50 % ) notes and $ 1.0 billion of 5.0% ( 5.0 % ) notes maturing in december 2014 and 2019 , respectively .
net proceeds of this offering were used to repay borrowings under the cp program , which was used to finance a portion of the acquisition of barclays global investors ( 201cbgi 201d ) from barclays on december 1 , 2009 ( the 201cbgi transaction 201d ) , and for general corporate purposes .
interest on the 2014 notes and 2019 notes of approximately $ 35 million and $ 50 million per year , respectively , is payable semi-annually in arrears on june 10 and december 10 of each year .
these notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price .
these notes were issued collectively at a discount of $ 5 million , which is being amortized over the respective terms of the notes .
the company incurred approximately $ 13 million of debt issuance costs , which are being amortized over the respective terms of these notes .
at december 31 , 2013 , $ 4 million of unamortized debt issuance costs was included in other assets on the consolidated statement of financial condition .
2017 notes .
in september 2007 , the company issued $ 700 million in aggregate principal amount of 6.25% ( 6.25 % ) senior unsecured and unsubordinated notes maturing on september 15 , 2017 ( the 201c2017 notes 201d ) .
a portion of the net proceeds of the 2017 notes was used to fund the initial cash payment for the acquisition of the fund of funds business of quellos and the remainder was used for general corporate purposes .
interest is payable semi-annually in arrears on march 15 and september 15 of each year , or approximately $ 44 million per year .
the 2017 notes may be redeemed prior .
| 2,013
| 124
|
BLK
|
BlackRock
|
Financials
|
Asset Management & Custody Banks
|
New York City, New York
|
2011-04-04
| 2,012,383
|
1988
| null | null |
finqa90
|
what is the roi of an investment in s&p500 index from 2006 to january 3 , 2009?
|
-34.3%
|
divide(subtract(65.70, const_100), const_100)
|
stock price performance the following graph shows a comparison of the cumulative total return on our common stock , the standard & poor's 500 index and the standard & poor's 500 retail index .
the graph assumes that the value of an investment in our common stock and in each such index was $ 100 on december 30 , 2006 , and that any dividends have been reinvested .
the comparison in the graph below is based solely on historical data and is not intended to forecast the possible future performance of our common stock .
comparison of cumulative total return among advance auto parts , inc. , s&p 500 index and s&p 500 retail index company/index advance auto parts s&p 500 index s&p retail index december 30 , $ 100.00 100.00 100.00 december 29 , $ 108.00 104.24 january 3 , $ 97.26 january 2 , $ 116.01 january 1 , $ 190.41 101.84 december 31 , $ 201.18 104.81 .
|
stock price performance the following graph shows a comparison of the cumulative total return on our common stock , the standard & poor's 500 index and the standard & poor's 500 retail index .
the graph assumes that the value of an investment in our common stock and in each such index was $ 100 on december 30 , 2006 , and that any dividends have been reinvested .
the comparison in the graph below is based solely on historical data and is not intended to forecast the possible future performance of our common stock .
comparison of cumulative total return among advance auto parts , inc. , s&p 500 index and s&p 500 retail index company/index advance auto parts s&p 500 index s&p retail index december 30 , $ 100.00 100.00 100.00 december 29 , $ 108.00 104.24 january 3 , $ 97.26 january 2 , $ 116.01 january 1 , $ 190.41 101.84 december 31 , $ 201.18 104.81 .
|
| | company/index | december 30 2006 | december 29 2007 | january 3 2009 | january 2 2010 | january 1 2011 | december 31 2011 |
|---:|:-------------------|:-------------------|:-------------------|:-----------------|:-----------------|:-----------------|:-------------------|
| 0 | advance auto parts | $ 100.00 | $ 108.00 | $ 97.26 | $ 116.01 | $ 190.41 | $ 201.18 |
| 1 | s&p 500 index | 100.00 | 104.24 | 65.70 | 78.62 | 88.67 | 88.67 |
| 2 | s&p retail index | 100.00 | 82.15 | 58.29 | 82.36 | 101.84 | 104.81 |
|
stock price performance the following graph shows a comparison of the cumulative total return on our common stock , the standard & poor's 500 index and the standard & poor's 500 retail index .
the graph assumes that the value of an investment in our common stock and in each such index was $ 100 on december 30 , 2006 , and that any dividends have been reinvested .
the comparison in the graph below is based solely on historical data and is not intended to forecast the possible future performance of our common stock .
comparison of cumulative total return among advance auto parts , inc. , s&p 500 index and s&p 500 retail index company/index advance auto parts s&p 500 index s&p retail index december 30 , $ 100.00 100.00 100.00 december 29 , $ 108.00 104.24 january 3 , $ 97.26 january 2 , $ 116.01 january 1 , $ 190.41 101.84 december 31 , $ 201.18 104.81 ._| | company/index | december 30 2006 | december 29 2007 | january 3 2009 | january 2 2010 | january 1 2011 | december 31 2011 |
|---:|:-------------------|:-------------------|:-------------------|:-----------------|:-----------------|:-----------------|:-------------------|
| 0 | advance auto parts | $ 100.00 | $ 108.00 | $ 97.26 | $ 116.01 | $ 190.41 | $ 201.18 |
| 1 | s&p 500 index | 100.00 | 104.24 | 65.70 | 78.62 | 88.67 | 88.67 |
| 2 | s&p retail index | 100.00 | 82.15 | 58.29 | 82.36 | 101.84 | 104.81 |_stock price performance the following graph shows a comparison of the cumulative total return on our common stock , the standard & poor's 500 index and the standard & poor's 500 retail index .
the graph assumes that the value of an investment in our common stock and in each such index was $ 100 on december 30 , 2006 , and that any dividends have been reinvested .
the comparison in the graph below is based solely on historical data and is not intended to forecast the possible future performance of our common stock .
comparison of cumulative total return among advance auto parts , inc. , s&p 500 index and s&p 500 retail index company/index advance auto parts s&p 500 index s&p retail index december 30 , $ 100.00 100.00 100.00 december 29 , $ 108.00 104.24 january 3 , $ 97.26 january 2 , $ 116.01 january 1 , $ 190.41 101.84 december 31 , $ 201.18 104.81 .
| 2,011
| 28
|
AAP
|
Advance Auto Parts, Inc.
|
Consumer Discretionary
|
Specialty Retail
|
Raleigh, NC
|
2015-01-01
| 1,158,449
|
1932
|
what is the roi of an investment in s&p500 index from 2006 to january 3 , 2009?
|
-34.3%
|
divide(subtract(65.70, const_100), const_100)
|
stock price performance the following graph shows a comparison of the cumulative total return on our common stock , the standard & poor's 500 index and the standard & poor's 500 retail index .
the graph assumes that the value of an investment in our common stock and in each such index was $ 100 on december 30 , 2006 , and that any dividends have been reinvested .
the comparison in the graph below is based solely on historical data and is not intended to forecast the possible future performance of our common stock .
comparison of cumulative total return among advance auto parts , inc. , s&p 500 index and s&p 500 retail index company/index advance auto parts s&p 500 index s&p retail index december 30 , $ 100.00 100.00 100.00 december 29 , $ 108.00 104.24 january 3 , $ 97.26 january 2 , $ 116.01 january 1 , $ 190.41 101.84 december 31 , $ 201.18 104.81 .
|
stock price performance the following graph shows a comparison of the cumulative total return on our common stock , the standard & poor's 500 index and the standard & poor's 500 retail index .
the graph assumes that the value of an investment in our common stock and in each such index was $ 100 on december 30 , 2006 , and that any dividends have been reinvested .
the comparison in the graph below is based solely on historical data and is not intended to forecast the possible future performance of our common stock .
comparison of cumulative total return among advance auto parts , inc. , s&p 500 index and s&p 500 retail index company/index advance auto parts s&p 500 index s&p retail index december 30 , $ 100.00 100.00 100.00 december 29 , $ 108.00 104.24 january 3 , $ 97.26 january 2 , $ 116.01 january 1 , $ 190.41 101.84 december 31 , $ 201.18 104.81 .
|
| | company/index | december 30 2006 | december 29 2007 | january 3 2009 | january 2 2010 | january 1 2011 | december 31 2011 |
|---:|:-------------------|:-------------------|:-------------------|:-----------------|:-----------------|:-----------------|:-------------------|
| 0 | advance auto parts | $ 100.00 | $ 108.00 | $ 97.26 | $ 116.01 | $ 190.41 | $ 201.18 |
| 1 | s&p 500 index | 100.00 | 104.24 | 65.70 | 78.62 | 88.67 | 88.67 |
| 2 | s&p retail index | 100.00 | 82.15 | 58.29 | 82.36 | 101.84 | 104.81 |
|
stock price performance the following graph shows a comparison of the cumulative total return on our common stock , the standard & poor's 500 index and the standard & poor's 500 retail index .
the graph assumes that the value of an investment in our common stock and in each such index was $ 100 on december 30 , 2006 , and that any dividends have been reinvested .
the comparison in the graph below is based solely on historical data and is not intended to forecast the possible future performance of our common stock .
comparison of cumulative total return among advance auto parts , inc. , s&p 500 index and s&p 500 retail index company/index advance auto parts s&p 500 index s&p retail index december 30 , $ 100.00 100.00 100.00 december 29 , $ 108.00 104.24 january 3 , $ 97.26 january 2 , $ 116.01 january 1 , $ 190.41 101.84 december 31 , $ 201.18 104.81 ._| | company/index | december 30 2006 | december 29 2007 | january 3 2009 | january 2 2010 | january 1 2011 | december 31 2011 |
|---:|:-------------------|:-------------------|:-------------------|:-----------------|:-----------------|:-----------------|:-------------------|
| 0 | advance auto parts | $ 100.00 | $ 108.00 | $ 97.26 | $ 116.01 | $ 190.41 | $ 201.18 |
| 1 | s&p 500 index | 100.00 | 104.24 | 65.70 | 78.62 | 88.67 | 88.67 |
| 2 | s&p retail index | 100.00 | 82.15 | 58.29 | 82.36 | 101.84 | 104.81 |_stock price performance the following graph shows a comparison of the cumulative total return on our common stock , the standard & poor's 500 index and the standard & poor's 500 retail index .
the graph assumes that the value of an investment in our common stock and in each such index was $ 100 on december 30 , 2006 , and that any dividends have been reinvested .
the comparison in the graph below is based solely on historical data and is not intended to forecast the possible future performance of our common stock .
comparison of cumulative total return among advance auto parts , inc. , s&p 500 index and s&p 500 retail index company/index advance auto parts s&p 500 index s&p retail index december 30 , $ 100.00 100.00 100.00 december 29 , $ 108.00 104.24 january 3 , $ 97.26 january 2 , $ 116.01 january 1 , $ 190.41 101.84 december 31 , $ 201.18 104.81 .
| 2,011
| 28
|
AAP
|
Advance Auto Parts, Inc.
|
Consumer Discretionary
|
Specialty Retail
|
Raleigh, NC
|
2015-01-01
| 1,158,449
|
1932
| null | null |
finqa91
|
what is the fair value of hologic common stock used to acquire suros?
|
46.3
|
divide(106500, 2300)
|
hologic , inc .
notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) acquisition and the adjustments did not have a material impact on the company 2019s financial position or results of operation .
there have no other material changes to the purchase price allocation as disclosed in the company 2019s form 10-k for the year ended september 30 , 2006 .
as part of the purchase price allocation , all intangible assets that were a part of the acquisition were identified and valued .
it was determined that only customer relationship , trade name , developed technology and know how and in-process research and development had separately identifiable values .
customer relationship represents r2 2019s strong active customer base , dominant market position and strong partnership with several large companies .
trade name represents the r2 product names that the company intends to continue to use .
order backlog consists of customer orders for which revenue has not yet been recognized .
developed technology and know how represents currently marketable purchased products that the company continues to resell as well as utilize to enhance and incorporate into the company 2019s existing products .
the estimated $ 10200 of purchase price allocated to in-process research and development projects primarily related to r2 2019s digital cad products .
the projects added direct digital algorithm capabilities as well as a new platform technology to analyze images and breast density measurement .
the projects were substantially completed as planned in fiscal 2007 .
the deferred income tax asset relates to the tax effect of acquired net operating loss carry forwards that the company believes are realizable partially offset by acquired identifiable intangible assets , and fair value adjustments to acquired inventory as such amounts are not deductible for tax purposes .
acquisition of suros surgical systems , inc .
on july 27 , 2006 , the company completed the acquisition of suros surgical systems , inc .
( suros ) , pursuant to an agreement and plan of merger dated april 17 , 2006 .
the results of operations for suros have been included in the company 2019s consolidated financial statements from the date of acquisition as part of its mammography/breast care business segment .
suros , located in indianapolis , indiana , develops , manufactures and sells minimally invasive interventional breast biopsy technology and products for biopsy , tissue removal and biopsy site marking .
the initial aggregate purchase price for suros of approximately $ 248100 ( subject to adjustment ) consisted of 2300 shares of hologic common stock valued at $ 106500 , cash paid of $ 139000 , and approximately $ 2600 for acquisition related fees and expenses .
the company determined the fair value of the shares issued in connection with the acquisition in accordance with eitf issue no .
99-12 , determination of the measurement date for the market price of acquirer securities issued in a purchase business combination .
the components and allocation of the purchase price , consists of the following approximate amounts: .
|
the acquisition also provides for a two-year earn out .
the earn-out is payable in two annual cash installments equal to the incremental revenue growth in suros 2019 business in the two years following the closing. .
|
| | net tangible assets acquired as of july 27 2006 | $ 11800 |
|---:|:--------------------------------------------------|:-----------------|
| 0 | in-process research and development | 4900 |
| 1 | developed technology and know how | 46000 |
| 2 | customer relationship | 17900 |
| 3 | trade name | 5800 |
| 4 | deferred income taxes | -21300 ( 21300 ) |
| 5 | goodwill | 202000 |
| 6 | estimated purchase price | $ 267100 |
|
hologic , inc .
notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) acquisition and the adjustments did not have a material impact on the company 2019s financial position or results of operation .
there have no other material changes to the purchase price allocation as disclosed in the company 2019s form 10-k for the year ended september 30 , 2006 .
as part of the purchase price allocation , all intangible assets that were a part of the acquisition were identified and valued .
it was determined that only customer relationship , trade name , developed technology and know how and in-process research and development had separately identifiable values .
customer relationship represents r2 2019s strong active customer base , dominant market position and strong partnership with several large companies .
trade name represents the r2 product names that the company intends to continue to use .
order backlog consists of customer orders for which revenue has not yet been recognized .
developed technology and know how represents currently marketable purchased products that the company continues to resell as well as utilize to enhance and incorporate into the company 2019s existing products .
the estimated $ 10200 of purchase price allocated to in-process research and development projects primarily related to r2 2019s digital cad products .
the projects added direct digital algorithm capabilities as well as a new platform technology to analyze images and breast density measurement .
the projects were substantially completed as planned in fiscal 2007 .
the deferred income tax asset relates to the tax effect of acquired net operating loss carry forwards that the company believes are realizable partially offset by acquired identifiable intangible assets , and fair value adjustments to acquired inventory as such amounts are not deductible for tax purposes .
acquisition of suros surgical systems , inc .
on july 27 , 2006 , the company completed the acquisition of suros surgical systems , inc .
( suros ) , pursuant to an agreement and plan of merger dated april 17 , 2006 .
the results of operations for suros have been included in the company 2019s consolidated financial statements from the date of acquisition as part of its mammography/breast care business segment .
suros , located in indianapolis , indiana , develops , manufactures and sells minimally invasive interventional breast biopsy technology and products for biopsy , tissue removal and biopsy site marking .
the initial aggregate purchase price for suros of approximately $ 248100 ( subject to adjustment ) consisted of 2300 shares of hologic common stock valued at $ 106500 , cash paid of $ 139000 , and approximately $ 2600 for acquisition related fees and expenses .
the company determined the fair value of the shares issued in connection with the acquisition in accordance with eitf issue no .
99-12 , determination of the measurement date for the market price of acquirer securities issued in a purchase business combination .
the components and allocation of the purchase price , consists of the following approximate amounts: ._| | net tangible assets acquired as of july 27 2006 | $ 11800 |
|---:|:--------------------------------------------------|:-----------------|
| 0 | in-process research and development | 4900 |
| 1 | developed technology and know how | 46000 |
| 2 | customer relationship | 17900 |
| 3 | trade name | 5800 |
| 4 | deferred income taxes | -21300 ( 21300 ) |
| 5 | goodwill | 202000 |
| 6 | estimated purchase price | $ 267100 |_the acquisition also provides for a two-year earn out .
the earn-out is payable in two annual cash installments equal to the incremental revenue growth in suros 2019 business in the two years following the closing. .
| 2,007
| 129
|
HOLX
|
Hologic
|
Health Care
|
Health Care Equipment
|
Marlborough, Massachusetts
|
2016-03-30
| 859,737
|
1985
|
what is the fair value of hologic common stock used to acquire suros?
|
46.3
|
divide(106500, 2300)
|
hologic , inc .
notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) acquisition and the adjustments did not have a material impact on the company 2019s financial position or results of operation .
there have no other material changes to the purchase price allocation as disclosed in the company 2019s form 10-k for the year ended september 30 , 2006 .
as part of the purchase price allocation , all intangible assets that were a part of the acquisition were identified and valued .
it was determined that only customer relationship , trade name , developed technology and know how and in-process research and development had separately identifiable values .
customer relationship represents r2 2019s strong active customer base , dominant market position and strong partnership with several large companies .
trade name represents the r2 product names that the company intends to continue to use .
order backlog consists of customer orders for which revenue has not yet been recognized .
developed technology and know how represents currently marketable purchased products that the company continues to resell as well as utilize to enhance and incorporate into the company 2019s existing products .
the estimated $ 10200 of purchase price allocated to in-process research and development projects primarily related to r2 2019s digital cad products .
the projects added direct digital algorithm capabilities as well as a new platform technology to analyze images and breast density measurement .
the projects were substantially completed as planned in fiscal 2007 .
the deferred income tax asset relates to the tax effect of acquired net operating loss carry forwards that the company believes are realizable partially offset by acquired identifiable intangible assets , and fair value adjustments to acquired inventory as such amounts are not deductible for tax purposes .
acquisition of suros surgical systems , inc .
on july 27 , 2006 , the company completed the acquisition of suros surgical systems , inc .
( suros ) , pursuant to an agreement and plan of merger dated april 17 , 2006 .
the results of operations for suros have been included in the company 2019s consolidated financial statements from the date of acquisition as part of its mammography/breast care business segment .
suros , located in indianapolis , indiana , develops , manufactures and sells minimally invasive interventional breast biopsy technology and products for biopsy , tissue removal and biopsy site marking .
the initial aggregate purchase price for suros of approximately $ 248100 ( subject to adjustment ) consisted of 2300 shares of hologic common stock valued at $ 106500 , cash paid of $ 139000 , and approximately $ 2600 for acquisition related fees and expenses .
the company determined the fair value of the shares issued in connection with the acquisition in accordance with eitf issue no .
99-12 , determination of the measurement date for the market price of acquirer securities issued in a purchase business combination .
the components and allocation of the purchase price , consists of the following approximate amounts: .
|
the acquisition also provides for a two-year earn out .
the earn-out is payable in two annual cash installments equal to the incremental revenue growth in suros 2019 business in the two years following the closing. .
|
| | net tangible assets acquired as of july 27 2006 | $ 11800 |
|---:|:--------------------------------------------------|:-----------------|
| 0 | in-process research and development | 4900 |
| 1 | developed technology and know how | 46000 |
| 2 | customer relationship | 17900 |
| 3 | trade name | 5800 |
| 4 | deferred income taxes | -21300 ( 21300 ) |
| 5 | goodwill | 202000 |
| 6 | estimated purchase price | $ 267100 |
|
hologic , inc .
notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) acquisition and the adjustments did not have a material impact on the company 2019s financial position or results of operation .
there have no other material changes to the purchase price allocation as disclosed in the company 2019s form 10-k for the year ended september 30 , 2006 .
as part of the purchase price allocation , all intangible assets that were a part of the acquisition were identified and valued .
it was determined that only customer relationship , trade name , developed technology and know how and in-process research and development had separately identifiable values .
customer relationship represents r2 2019s strong active customer base , dominant market position and strong partnership with several large companies .
trade name represents the r2 product names that the company intends to continue to use .
order backlog consists of customer orders for which revenue has not yet been recognized .
developed technology and know how represents currently marketable purchased products that the company continues to resell as well as utilize to enhance and incorporate into the company 2019s existing products .
the estimated $ 10200 of purchase price allocated to in-process research and development projects primarily related to r2 2019s digital cad products .
the projects added direct digital algorithm capabilities as well as a new platform technology to analyze images and breast density measurement .
the projects were substantially completed as planned in fiscal 2007 .
the deferred income tax asset relates to the tax effect of acquired net operating loss carry forwards that the company believes are realizable partially offset by acquired identifiable intangible assets , and fair value adjustments to acquired inventory as such amounts are not deductible for tax purposes .
acquisition of suros surgical systems , inc .
on july 27 , 2006 , the company completed the acquisition of suros surgical systems , inc .
( suros ) , pursuant to an agreement and plan of merger dated april 17 , 2006 .
the results of operations for suros have been included in the company 2019s consolidated financial statements from the date of acquisition as part of its mammography/breast care business segment .
suros , located in indianapolis , indiana , develops , manufactures and sells minimally invasive interventional breast biopsy technology and products for biopsy , tissue removal and biopsy site marking .
the initial aggregate purchase price for suros of approximately $ 248100 ( subject to adjustment ) consisted of 2300 shares of hologic common stock valued at $ 106500 , cash paid of $ 139000 , and approximately $ 2600 for acquisition related fees and expenses .
the company determined the fair value of the shares issued in connection with the acquisition in accordance with eitf issue no .
99-12 , determination of the measurement date for the market price of acquirer securities issued in a purchase business combination .
the components and allocation of the purchase price , consists of the following approximate amounts: ._| | net tangible assets acquired as of july 27 2006 | $ 11800 |
|---:|:--------------------------------------------------|:-----------------|
| 0 | in-process research and development | 4900 |
| 1 | developed technology and know how | 46000 |
| 2 | customer relationship | 17900 |
| 3 | trade name | 5800 |
| 4 | deferred income taxes | -21300 ( 21300 ) |
| 5 | goodwill | 202000 |
| 6 | estimated purchase price | $ 267100 |_the acquisition also provides for a two-year earn out .
the earn-out is payable in two annual cash installments equal to the incremental revenue growth in suros 2019 business in the two years following the closing. .
| 2,007
| 129
|
HOLX
|
Hologic
|
Health Care
|
Health Care Equipment
|
Marlborough, Massachusetts
|
2016-03-30
| 859,737
|
1985
| null | null |
finqa92
|
what was the percentage change in rental expense for operating leases from 2008 to 2009?
|
17%
|
divide(subtract(57.2, 49.0), 49.0)
|
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 .
infringed on ford design patents .
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 .
design patent .
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. .
|
| | 2011 | $ 62465 |
|---:|:------------------------------|:----------|
| 0 | 2012 | 54236 |
| 1 | 2013 | 47860 |
| 2 | 2014 | 37660 |
| 3 | 2015 | 28622 |
| 4 | thereafter | 79800 |
| 5 | future minimum lease payments | $ 310643 |
|
the future minimum lease commitments under these leases at december 31 , 2010 are as follows ( in thousands ) : years ending december 31: ._| | 2011 | $ 62465 |
|---:|:------------------------------|:----------|
| 0 | 2012 | 54236 |
| 1 | 2013 | 47860 |
| 2 | 2014 | 37660 |
| 3 | 2015 | 28622 |
| 4 | thereafter | 79800 |
| 5 | future minimum lease payments | $ 310643 |_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 .
infringed on ford design patents .
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 .
design patent .
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. .
| 2,010
| 84
|
LKQ
|
LKQ Corporation
|
Consumer Discretionary
|
Distributors
|
Chicago, Illinois
|
2016-05-23
| 1,065,696
|
1998
|
what was the percentage change in rental expense for operating leases from 2008 to 2009?
|
17%
|
divide(subtract(57.2, 49.0), 49.0)
|
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 .
infringed on ford design patents .
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 .
design patent .
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. .
|
| | 2011 | $ 62465 |
|---:|:------------------------------|:----------|
| 0 | 2012 | 54236 |
| 1 | 2013 | 47860 |
| 2 | 2014 | 37660 |
| 3 | 2015 | 28622 |
| 4 | thereafter | 79800 |
| 5 | future minimum lease payments | $ 310643 |
|
the future minimum lease commitments under these leases at december 31 , 2010 are as follows ( in thousands ) : years ending december 31: ._| | 2011 | $ 62465 |
|---:|:------------------------------|:----------|
| 0 | 2012 | 54236 |
| 1 | 2013 | 47860 |
| 2 | 2014 | 37660 |
| 3 | 2015 | 28622 |
| 4 | thereafter | 79800 |
| 5 | future minimum lease payments | $ 310643 |_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 .
infringed on ford design patents .
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 .
design patent .
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. .
| 2,010
| 84
|
LKQ
|
LKQ Corporation
|
Consumer Discretionary
|
Distributors
|
Chicago, Illinois
|
2016-05-23
| 1,065,696
|
1998
| null | null |
finqa93
|
what was the average change in unrealized gains on derivative instruments?
|
5
|
table_average(change in unrealized gains on derivative instruments, none)
|
table of contents notes to consolidated financial statements ( continued ) note 6 2014shareholders 2019 equity ( continued ) the following table summarizes activity in other comprehensive income related to derivatives , net of taxes , held by the company during the three fiscal years ended september 27 , 2008 ( in millions ) : the tax effect related to the changes in fair value of derivatives was $ ( 5 ) million , $ 1 million , and $ ( 8 ) million for 2008 , 2007 , and 2006 , respectively .
the tax effect related to derivative gains/losses reclassified from other comprehensive income to net income was $ ( 9 ) million , $ 2 million , and $ 8 million for 2008 , 2007 , and 2006 , respectively .
employee benefit plans 2003 employee stock plan the 2003 employee stock plan ( the 201c2003 plan 201d ) is a shareholder approved plan that provides for broad-based grants to employees , including executive officers .
based on the terms of individual option grants , options granted under the 2003 plan generally expire 7 to 10 years after the grant date and generally become exercisable over a period of four years , based on continued employment , with either annual or quarterly vesting .
the 2003 plan permits the granting of incentive stock options , nonstatutory stock options , rsus , stock appreciation rights , stock purchase rights and performance-based awards .
as of september 27 , 2008 , approximately 50.3 million shares were reserved for future issuance under the 2003 1997 employee stock option plan in august 1997 , the company 2019s board of directors approved the 1997 employee stock option plan ( the 201c1997 plan 201d ) , a non-shareholder approved plan for grants of stock options to employees who are not officers of the company .
based on the terms of individual option grants , options granted under the 1997 plan generally expire 7 to 10 years after the grant date and generally become exercisable over a period of four years , based on continued employment , with either annual or quarterly vesting .
in october 2003 , the company terminated the 1997 plan and no new options can be granted from this plan .
1997 director stock option plan in august 1997 , the company 2019s board of directors adopted a director stock option plan ( the 201cdirector plan 201d ) for non-employee directors of the company , which was approved by shareholders in 1998 .
pursuant to the director plan , the company 2019s non-employee directors are granted an option to acquire 30000 shares of common stock upon their initial election to the board ( 201cinitial options 201d ) .
the initial options vest and become exercisable in three equal annual installments on each of the first through third anniversaries of the grant date .
on the fourth anniversary of a non-employee director 2019s initial election to the board and on each subsequent anniversary thereafter , the director will be entitled to receive an option to acquire 10000 shares of common stock ( 201cannual options 201d ) .
annual options are fully vested and immediately exercisable on their date of grant .
options granted under the director plan expire 10 years after the grant date .
as of september 27 , 2008 , approximately 290000 shares were reserved for future issuance under the director plan .
rule 10b5-1 trading plans the following executive officers , timothy d .
cook , peter oppenheimer , philip w .
schiller , and bertrand serlet , have entered into trading plans pursuant to rule 10b5-1 ( c ) ( 1 ) of the securities exchange act of 1934 , as amended ( the 201cexchange act 201d ) , as of november 1 , 2008 .
a trading plan is a written document that .
|
.
|
| | | 2008 | 2007 | 2006 |
|---:|:-------------------------------------------------------------------------|:-------|:-----------|:-----------|
| 0 | changes in fair value of derivatives | $ 7 | $ -1 ( 1 ) | $ 11 |
| 1 | adjustment for net gains/ ( losses ) realized and included in net income | 12 | -2 ( 2 ) | -12 ( 12 ) |
| 2 | change in unrealized gains on derivative instruments | $ 19 | $ -3 ( 3 ) | $ -1 ( 1 ) |
|
table of contents notes to consolidated financial statements ( continued ) note 6 2014shareholders 2019 equity ( continued ) the following table summarizes activity in other comprehensive income related to derivatives , net of taxes , held by the company during the three fiscal years ended september 27 , 2008 ( in millions ) : the tax effect related to the changes in fair value of derivatives was $ ( 5 ) million , $ 1 million , and $ ( 8 ) million for 2008 , 2007 , and 2006 , respectively .
the tax effect related to derivative gains/losses reclassified from other comprehensive income to net income was $ ( 9 ) million , $ 2 million , and $ 8 million for 2008 , 2007 , and 2006 , respectively .
employee benefit plans 2003 employee stock plan the 2003 employee stock plan ( the 201c2003 plan 201d ) is a shareholder approved plan that provides for broad-based grants to employees , including executive officers .
based on the terms of individual option grants , options granted under the 2003 plan generally expire 7 to 10 years after the grant date and generally become exercisable over a period of four years , based on continued employment , with either annual or quarterly vesting .
the 2003 plan permits the granting of incentive stock options , nonstatutory stock options , rsus , stock appreciation rights , stock purchase rights and performance-based awards .
as of september 27 , 2008 , approximately 50.3 million shares were reserved for future issuance under the 2003 1997 employee stock option plan in august 1997 , the company 2019s board of directors approved the 1997 employee stock option plan ( the 201c1997 plan 201d ) , a non-shareholder approved plan for grants of stock options to employees who are not officers of the company .
based on the terms of individual option grants , options granted under the 1997 plan generally expire 7 to 10 years after the grant date and generally become exercisable over a period of four years , based on continued employment , with either annual or quarterly vesting .
in october 2003 , the company terminated the 1997 plan and no new options can be granted from this plan .
1997 director stock option plan in august 1997 , the company 2019s board of directors adopted a director stock option plan ( the 201cdirector plan 201d ) for non-employee directors of the company , which was approved by shareholders in 1998 .
pursuant to the director plan , the company 2019s non-employee directors are granted an option to acquire 30000 shares of common stock upon their initial election to the board ( 201cinitial options 201d ) .
the initial options vest and become exercisable in three equal annual installments on each of the first through third anniversaries of the grant date .
on the fourth anniversary of a non-employee director 2019s initial election to the board and on each subsequent anniversary thereafter , the director will be entitled to receive an option to acquire 10000 shares of common stock ( 201cannual options 201d ) .
annual options are fully vested and immediately exercisable on their date of grant .
options granted under the director plan expire 10 years after the grant date .
as of september 27 , 2008 , approximately 290000 shares were reserved for future issuance under the director plan .
rule 10b5-1 trading plans the following executive officers , timothy d .
cook , peter oppenheimer , philip w .
schiller , and bertrand serlet , have entered into trading plans pursuant to rule 10b5-1 ( c ) ( 1 ) of the securities exchange act of 1934 , as amended ( the 201cexchange act 201d ) , as of november 1 , 2008 .
a trading plan is a written document that ._| | | 2008 | 2007 | 2006 |
|---:|:-------------------------------------------------------------------------|:-------|:-----------|:-----------|
| 0 | changes in fair value of derivatives | $ 7 | $ -1 ( 1 ) | $ 11 |
| 1 | adjustment for net gains/ ( losses ) realized and included in net income | 12 | -2 ( 2 ) | -12 ( 12 ) |
| 2 | change in unrealized gains on derivative instruments | $ 19 | $ -3 ( 3 ) | $ -1 ( 1 ) |_.
| 2,008
| 78
|
AAPL
|
Apple Inc.
|
Information Technology
|
Technology Hardware, Storage & Peripherals
|
Cupertino, California
|
1982-11-30
| 320,193
|
1977
|
what was the average change in unrealized gains on derivative instruments?
|
5
|
table_average(change in unrealized gains on derivative instruments, none)
|
table of contents notes to consolidated financial statements ( continued ) note 6 2014shareholders 2019 equity ( continued ) the following table summarizes activity in other comprehensive income related to derivatives , net of taxes , held by the company during the three fiscal years ended september 27 , 2008 ( in millions ) : the tax effect related to the changes in fair value of derivatives was $ ( 5 ) million , $ 1 million , and $ ( 8 ) million for 2008 , 2007 , and 2006 , respectively .
the tax effect related to derivative gains/losses reclassified from other comprehensive income to net income was $ ( 9 ) million , $ 2 million , and $ 8 million for 2008 , 2007 , and 2006 , respectively .
employee benefit plans 2003 employee stock plan the 2003 employee stock plan ( the 201c2003 plan 201d ) is a shareholder approved plan that provides for broad-based grants to employees , including executive officers .
based on the terms of individual option grants , options granted under the 2003 plan generally expire 7 to 10 years after the grant date and generally become exercisable over a period of four years , based on continued employment , with either annual or quarterly vesting .
the 2003 plan permits the granting of incentive stock options , nonstatutory stock options , rsus , stock appreciation rights , stock purchase rights and performance-based awards .
as of september 27 , 2008 , approximately 50.3 million shares were reserved for future issuance under the 2003 1997 employee stock option plan in august 1997 , the company 2019s board of directors approved the 1997 employee stock option plan ( the 201c1997 plan 201d ) , a non-shareholder approved plan for grants of stock options to employees who are not officers of the company .
based on the terms of individual option grants , options granted under the 1997 plan generally expire 7 to 10 years after the grant date and generally become exercisable over a period of four years , based on continued employment , with either annual or quarterly vesting .
in october 2003 , the company terminated the 1997 plan and no new options can be granted from this plan .
1997 director stock option plan in august 1997 , the company 2019s board of directors adopted a director stock option plan ( the 201cdirector plan 201d ) for non-employee directors of the company , which was approved by shareholders in 1998 .
pursuant to the director plan , the company 2019s non-employee directors are granted an option to acquire 30000 shares of common stock upon their initial election to the board ( 201cinitial options 201d ) .
the initial options vest and become exercisable in three equal annual installments on each of the first through third anniversaries of the grant date .
on the fourth anniversary of a non-employee director 2019s initial election to the board and on each subsequent anniversary thereafter , the director will be entitled to receive an option to acquire 10000 shares of common stock ( 201cannual options 201d ) .
annual options are fully vested and immediately exercisable on their date of grant .
options granted under the director plan expire 10 years after the grant date .
as of september 27 , 2008 , approximately 290000 shares were reserved for future issuance under the director plan .
rule 10b5-1 trading plans the following executive officers , timothy d .
cook , peter oppenheimer , philip w .
schiller , and bertrand serlet , have entered into trading plans pursuant to rule 10b5-1 ( c ) ( 1 ) of the securities exchange act of 1934 , as amended ( the 201cexchange act 201d ) , as of november 1 , 2008 .
a trading plan is a written document that .
|
.
|
| | | 2008 | 2007 | 2006 |
|---:|:-------------------------------------------------------------------------|:-------|:-----------|:-----------|
| 0 | changes in fair value of derivatives | $ 7 | $ -1 ( 1 ) | $ 11 |
| 1 | adjustment for net gains/ ( losses ) realized and included in net income | 12 | -2 ( 2 ) | -12 ( 12 ) |
| 2 | change in unrealized gains on derivative instruments | $ 19 | $ -3 ( 3 ) | $ -1 ( 1 ) |
|
table of contents notes to consolidated financial statements ( continued ) note 6 2014shareholders 2019 equity ( continued ) the following table summarizes activity in other comprehensive income related to derivatives , net of taxes , held by the company during the three fiscal years ended september 27 , 2008 ( in millions ) : the tax effect related to the changes in fair value of derivatives was $ ( 5 ) million , $ 1 million , and $ ( 8 ) million for 2008 , 2007 , and 2006 , respectively .
the tax effect related to derivative gains/losses reclassified from other comprehensive income to net income was $ ( 9 ) million , $ 2 million , and $ 8 million for 2008 , 2007 , and 2006 , respectively .
employee benefit plans 2003 employee stock plan the 2003 employee stock plan ( the 201c2003 plan 201d ) is a shareholder approved plan that provides for broad-based grants to employees , including executive officers .
based on the terms of individual option grants , options granted under the 2003 plan generally expire 7 to 10 years after the grant date and generally become exercisable over a period of four years , based on continued employment , with either annual or quarterly vesting .
the 2003 plan permits the granting of incentive stock options , nonstatutory stock options , rsus , stock appreciation rights , stock purchase rights and performance-based awards .
as of september 27 , 2008 , approximately 50.3 million shares were reserved for future issuance under the 2003 1997 employee stock option plan in august 1997 , the company 2019s board of directors approved the 1997 employee stock option plan ( the 201c1997 plan 201d ) , a non-shareholder approved plan for grants of stock options to employees who are not officers of the company .
based on the terms of individual option grants , options granted under the 1997 plan generally expire 7 to 10 years after the grant date and generally become exercisable over a period of four years , based on continued employment , with either annual or quarterly vesting .
in october 2003 , the company terminated the 1997 plan and no new options can be granted from this plan .
1997 director stock option plan in august 1997 , the company 2019s board of directors adopted a director stock option plan ( the 201cdirector plan 201d ) for non-employee directors of the company , which was approved by shareholders in 1998 .
pursuant to the director plan , the company 2019s non-employee directors are granted an option to acquire 30000 shares of common stock upon their initial election to the board ( 201cinitial options 201d ) .
the initial options vest and become exercisable in three equal annual installments on each of the first through third anniversaries of the grant date .
on the fourth anniversary of a non-employee director 2019s initial election to the board and on each subsequent anniversary thereafter , the director will be entitled to receive an option to acquire 10000 shares of common stock ( 201cannual options 201d ) .
annual options are fully vested and immediately exercisable on their date of grant .
options granted under the director plan expire 10 years after the grant date .
as of september 27 , 2008 , approximately 290000 shares were reserved for future issuance under the director plan .
rule 10b5-1 trading plans the following executive officers , timothy d .
cook , peter oppenheimer , philip w .
schiller , and bertrand serlet , have entered into trading plans pursuant to rule 10b5-1 ( c ) ( 1 ) of the securities exchange act of 1934 , as amended ( the 201cexchange act 201d ) , as of november 1 , 2008 .
a trading plan is a written document that ._| | | 2008 | 2007 | 2006 |
|---:|:-------------------------------------------------------------------------|:-------|:-----------|:-----------|
| 0 | changes in fair value of derivatives | $ 7 | $ -1 ( 1 ) | $ 11 |
| 1 | adjustment for net gains/ ( losses ) realized and included in net income | 12 | -2 ( 2 ) | -12 ( 12 ) |
| 2 | change in unrealized gains on derivative instruments | $ 19 | $ -3 ( 3 ) | $ -1 ( 1 ) |_.
| 2,008
| 78
|
AAPL
|
Apple Inc.
|
Information Technology
|
Technology Hardware, Storage & Peripherals
|
Cupertino, California
|
1982-11-30
| 320,193
|
1977
| null | null |
finqa94
|
what was the change in millions between 2012 and 2013 in currency hedges?
|
383
|
subtract(150, -233)
|
notes to consolidated financial statements net investment hedges the firm seeks to reduce the impact of fluctuations in foreign exchange rates on its net investment in certain non- u.s .
operations through the use of foreign currency forward contracts and foreign currency-denominated debt .
for foreign currency forward contracts designated as hedges , the effectiveness of the hedge is assessed based on the overall changes in the fair value of the forward contracts ( i.e. , based on changes in forward rates ) .
for foreign currency-denominated debt designated as a hedge , the effectiveness of the hedge is assessed based on changes in spot rates .
for qualifying net investment hedges , the gains or losses on the hedging instruments , to the extent effective , are included in 201ccurrency translation 201d within the consolidated statements of comprehensive income .
the table below presents the gains/ ( losses ) from net investment hedging. .
|
the gain/ ( loss ) related to ineffectiveness was not material for 2013 , 2012 or 2011 .
the loss reclassified to earnings from accumulated other comprehensive income was not material for 2013 or 2012 , and was $ 186 million for 2011 .
as of december 2013 and december 2012 , the firm had designated $ 1.97 billion and $ 2.77 billion , respectively , of foreign currency-denominated debt , included in 201cunsecured long-term borrowings 201d and 201cunsecured short- term borrowings , 201d as hedges of net investments in non- u.s .
subsidiaries .
cash flow hedges beginning in the third quarter of 2013 , the firm designated certain commodities-related swap and forward contracts as cash flow hedges .
these swap and forward contracts hedge the firm 2019s exposure to the variability in cash flows associated with the forecasted sales of certain energy commodities by one of the firm 2019s consolidated investments .
the firm applies a statistical method that utilizes regression analysis when assessing hedge effectiveness .
a cash flow hedge is considered highly effective in offsetting changes in forecasted cash flows attributable to the hedged risk when the regression analysis results in a coefficient of determination of 80% ( 80 % ) or greater and a slope between 80% ( 80 % ) and 125% ( 125 % ) .
for qualifying cash flow hedges , the gains or losses on derivatives , to the extent effective , are included in 201ccash flow hedges 201d within the consolidated statements of comprehensive income .
gains or losses resulting from hedge ineffectiveness are included in 201cother principal transactions 201d in the consolidated statements of earnings .
the effective portion of the gains , before taxes , recognized on these cash flow hedges was $ 14 million for 2013 .
the gain/ ( loss ) related to hedge ineffectiveness was not material for 2013 .
there were no gains/ ( losses ) excluded from the assessment of hedge effectiveness or reclassified to earnings from accumulated other comprehensive income during 2013 .
the amounts recorded in 201ccash flow hedges 201d will be reclassified to 201cother principal transactions 201d in the same periods as the corresponding gain or loss on the sale of the hedged energy commodities , which is also recorded in 201cother principal transactions . 201d the firm expects to reclassify $ 5 million of gains , net of taxes , related to cash flow hedges from 201ccash flow hedges 201d to earnings within the next twelve months .
the length of time over which the firm is hedging its exposure to the variability in future cash flows for forecasted transactions is approximately two years .
150 goldman sachs 2013 annual report .
|
| | in millions | year ended december 2013 | year ended december 2012 | year ended december 2011 |
|---:|:-----------------------------------------|:---------------------------|:---------------------------|:---------------------------|
| 0 | currency hedges | $ 150 | $ -233 ( 233 ) | $ 160 |
| 1 | foreign currency-denominated debt hedges | 470 | 347 | -147 ( 147 ) |
|
notes to consolidated financial statements net investment hedges the firm seeks to reduce the impact of fluctuations in foreign exchange rates on its net investment in certain non- u.s .
operations through the use of foreign currency forward contracts and foreign currency-denominated debt .
for foreign currency forward contracts designated as hedges , the effectiveness of the hedge is assessed based on the overall changes in the fair value of the forward contracts ( i.e. , based on changes in forward rates ) .
for foreign currency-denominated debt designated as a hedge , the effectiveness of the hedge is assessed based on changes in spot rates .
for qualifying net investment hedges , the gains or losses on the hedging instruments , to the extent effective , are included in 201ccurrency translation 201d within the consolidated statements of comprehensive income .
the table below presents the gains/ ( losses ) from net investment hedging. ._| | in millions | year ended december 2013 | year ended december 2012 | year ended december 2011 |
|---:|:-----------------------------------------|:---------------------------|:---------------------------|:---------------------------|
| 0 | currency hedges | $ 150 | $ -233 ( 233 ) | $ 160 |
| 1 | foreign currency-denominated debt hedges | 470 | 347 | -147 ( 147 ) |_the gain/ ( loss ) related to ineffectiveness was not material for 2013 , 2012 or 2011 .
the loss reclassified to earnings from accumulated other comprehensive income was not material for 2013 or 2012 , and was $ 186 million for 2011 .
as of december 2013 and december 2012 , the firm had designated $ 1.97 billion and $ 2.77 billion , respectively , of foreign currency-denominated debt , included in 201cunsecured long-term borrowings 201d and 201cunsecured short- term borrowings , 201d as hedges of net investments in non- u.s .
subsidiaries .
cash flow hedges beginning in the third quarter of 2013 , the firm designated certain commodities-related swap and forward contracts as cash flow hedges .
these swap and forward contracts hedge the firm 2019s exposure to the variability in cash flows associated with the forecasted sales of certain energy commodities by one of the firm 2019s consolidated investments .
the firm applies a statistical method that utilizes regression analysis when assessing hedge effectiveness .
a cash flow hedge is considered highly effective in offsetting changes in forecasted cash flows attributable to the hedged risk when the regression analysis results in a coefficient of determination of 80% ( 80 % ) or greater and a slope between 80% ( 80 % ) and 125% ( 125 % ) .
for qualifying cash flow hedges , the gains or losses on derivatives , to the extent effective , are included in 201ccash flow hedges 201d within the consolidated statements of comprehensive income .
gains or losses resulting from hedge ineffectiveness are included in 201cother principal transactions 201d in the consolidated statements of earnings .
the effective portion of the gains , before taxes , recognized on these cash flow hedges was $ 14 million for 2013 .
the gain/ ( loss ) related to hedge ineffectiveness was not material for 2013 .
there were no gains/ ( losses ) excluded from the assessment of hedge effectiveness or reclassified to earnings from accumulated other comprehensive income during 2013 .
the amounts recorded in 201ccash flow hedges 201d will be reclassified to 201cother principal transactions 201d in the same periods as the corresponding gain or loss on the sale of the hedged energy commodities , which is also recorded in 201cother principal transactions . 201d the firm expects to reclassify $ 5 million of gains , net of taxes , related to cash flow hedges from 201ccash flow hedges 201d to earnings within the next twelve months .
the length of time over which the firm is hedging its exposure to the variability in future cash flows for forecasted transactions is approximately two years .
150 goldman sachs 2013 annual report .
| 2,013
| 152
|
GS
|
Goldman Sachs
|
Financials
|
Investment Banking & Brokerage
|
New York City, New York
|
2002-07-22
| 886,982
|
1869
|
what was the change in millions between 2012 and 2013 in currency hedges?
|
383
|
subtract(150, -233)
|
notes to consolidated financial statements net investment hedges the firm seeks to reduce the impact of fluctuations in foreign exchange rates on its net investment in certain non- u.s .
operations through the use of foreign currency forward contracts and foreign currency-denominated debt .
for foreign currency forward contracts designated as hedges , the effectiveness of the hedge is assessed based on the overall changes in the fair value of the forward contracts ( i.e. , based on changes in forward rates ) .
for foreign currency-denominated debt designated as a hedge , the effectiveness of the hedge is assessed based on changes in spot rates .
for qualifying net investment hedges , the gains or losses on the hedging instruments , to the extent effective , are included in 201ccurrency translation 201d within the consolidated statements of comprehensive income .
the table below presents the gains/ ( losses ) from net investment hedging. .
|
the gain/ ( loss ) related to ineffectiveness was not material for 2013 , 2012 or 2011 .
the loss reclassified to earnings from accumulated other comprehensive income was not material for 2013 or 2012 , and was $ 186 million for 2011 .
as of december 2013 and december 2012 , the firm had designated $ 1.97 billion and $ 2.77 billion , respectively , of foreign currency-denominated debt , included in 201cunsecured long-term borrowings 201d and 201cunsecured short- term borrowings , 201d as hedges of net investments in non- u.s .
subsidiaries .
cash flow hedges beginning in the third quarter of 2013 , the firm designated certain commodities-related swap and forward contracts as cash flow hedges .
these swap and forward contracts hedge the firm 2019s exposure to the variability in cash flows associated with the forecasted sales of certain energy commodities by one of the firm 2019s consolidated investments .
the firm applies a statistical method that utilizes regression analysis when assessing hedge effectiveness .
a cash flow hedge is considered highly effective in offsetting changes in forecasted cash flows attributable to the hedged risk when the regression analysis results in a coefficient of determination of 80% ( 80 % ) or greater and a slope between 80% ( 80 % ) and 125% ( 125 % ) .
for qualifying cash flow hedges , the gains or losses on derivatives , to the extent effective , are included in 201ccash flow hedges 201d within the consolidated statements of comprehensive income .
gains or losses resulting from hedge ineffectiveness are included in 201cother principal transactions 201d in the consolidated statements of earnings .
the effective portion of the gains , before taxes , recognized on these cash flow hedges was $ 14 million for 2013 .
the gain/ ( loss ) related to hedge ineffectiveness was not material for 2013 .
there were no gains/ ( losses ) excluded from the assessment of hedge effectiveness or reclassified to earnings from accumulated other comprehensive income during 2013 .
the amounts recorded in 201ccash flow hedges 201d will be reclassified to 201cother principal transactions 201d in the same periods as the corresponding gain or loss on the sale of the hedged energy commodities , which is also recorded in 201cother principal transactions . 201d the firm expects to reclassify $ 5 million of gains , net of taxes , related to cash flow hedges from 201ccash flow hedges 201d to earnings within the next twelve months .
the length of time over which the firm is hedging its exposure to the variability in future cash flows for forecasted transactions is approximately two years .
150 goldman sachs 2013 annual report .
|
| | in millions | year ended december 2013 | year ended december 2012 | year ended december 2011 |
|---:|:-----------------------------------------|:---------------------------|:---------------------------|:---------------------------|
| 0 | currency hedges | $ 150 | $ -233 ( 233 ) | $ 160 |
| 1 | foreign currency-denominated debt hedges | 470 | 347 | -147 ( 147 ) |
|
notes to consolidated financial statements net investment hedges the firm seeks to reduce the impact of fluctuations in foreign exchange rates on its net investment in certain non- u.s .
operations through the use of foreign currency forward contracts and foreign currency-denominated debt .
for foreign currency forward contracts designated as hedges , the effectiveness of the hedge is assessed based on the overall changes in the fair value of the forward contracts ( i.e. , based on changes in forward rates ) .
for foreign currency-denominated debt designated as a hedge , the effectiveness of the hedge is assessed based on changes in spot rates .
for qualifying net investment hedges , the gains or losses on the hedging instruments , to the extent effective , are included in 201ccurrency translation 201d within the consolidated statements of comprehensive income .
the table below presents the gains/ ( losses ) from net investment hedging. ._| | in millions | year ended december 2013 | year ended december 2012 | year ended december 2011 |
|---:|:-----------------------------------------|:---------------------------|:---------------------------|:---------------------------|
| 0 | currency hedges | $ 150 | $ -233 ( 233 ) | $ 160 |
| 1 | foreign currency-denominated debt hedges | 470 | 347 | -147 ( 147 ) |_the gain/ ( loss ) related to ineffectiveness was not material for 2013 , 2012 or 2011 .
the loss reclassified to earnings from accumulated other comprehensive income was not material for 2013 or 2012 , and was $ 186 million for 2011 .
as of december 2013 and december 2012 , the firm had designated $ 1.97 billion and $ 2.77 billion , respectively , of foreign currency-denominated debt , included in 201cunsecured long-term borrowings 201d and 201cunsecured short- term borrowings , 201d as hedges of net investments in non- u.s .
subsidiaries .
cash flow hedges beginning in the third quarter of 2013 , the firm designated certain commodities-related swap and forward contracts as cash flow hedges .
these swap and forward contracts hedge the firm 2019s exposure to the variability in cash flows associated with the forecasted sales of certain energy commodities by one of the firm 2019s consolidated investments .
the firm applies a statistical method that utilizes regression analysis when assessing hedge effectiveness .
a cash flow hedge is considered highly effective in offsetting changes in forecasted cash flows attributable to the hedged risk when the regression analysis results in a coefficient of determination of 80% ( 80 % ) or greater and a slope between 80% ( 80 % ) and 125% ( 125 % ) .
for qualifying cash flow hedges , the gains or losses on derivatives , to the extent effective , are included in 201ccash flow hedges 201d within the consolidated statements of comprehensive income .
gains or losses resulting from hedge ineffectiveness are included in 201cother principal transactions 201d in the consolidated statements of earnings .
the effective portion of the gains , before taxes , recognized on these cash flow hedges was $ 14 million for 2013 .
the gain/ ( loss ) related to hedge ineffectiveness was not material for 2013 .
there were no gains/ ( losses ) excluded from the assessment of hedge effectiveness or reclassified to earnings from accumulated other comprehensive income during 2013 .
the amounts recorded in 201ccash flow hedges 201d will be reclassified to 201cother principal transactions 201d in the same periods as the corresponding gain or loss on the sale of the hedged energy commodities , which is also recorded in 201cother principal transactions . 201d the firm expects to reclassify $ 5 million of gains , net of taxes , related to cash flow hedges from 201ccash flow hedges 201d to earnings within the next twelve months .
the length of time over which the firm is hedging its exposure to the variability in future cash flows for forecasted transactions is approximately two years .
150 goldman sachs 2013 annual report .
| 2,013
| 152
|
GS
|
Goldman Sachs
|
Financials
|
Investment Banking & Brokerage
|
New York City, New York
|
2002-07-22
| 886,982
|
1869
| null | null |
finqa95
|
what portion of total assets acquired is composed of goodwill?
|
69.7%
|
divide(13536, 19427)
|
notes to consolidated financial statements 2014 ( continued ) in connection with these discover related purchases , we have sold the contractual rights to future commissions on discover transactions to certain of our isos .
contractual rights sold totaled $ 7.6 million during the year ended may 31 , 2008 and $ 1.0 million during fiscal 2009 .
such sale proceeds are generally collected in installments over periods ranging from three to nine months .
during fiscal 2009 , we collected $ 4.4 million of such proceeds , which are included in the proceeds from sale of investment and contractual rights in our consolidated statement of cash flows .
we do not recognize gains on these sales of contractual rights at the time of sale .
proceeds are deferred and recognized as a reduction of the related commission expense .
during fiscal 2009 , we recognized $ 1.2 million of such deferred sales proceeds as other long-term liabilities .
other 2008 acquisitions during fiscal 2008 , we acquired a majority of the assets of euroenvios money transfer , s.a .
and euroenvios conecta , s.l. , which we collectively refer to as lfs spain .
lfs spain consisted of two privately- held corporations engaged in money transmittal and ancillary services from spain to settlement locations primarily in latin america .
the purpose of the acquisition was to further our strategy of expanding our customer base and market share by opening additional branch locations .
during fiscal 2008 , we acquired a series of money transfer branch locations in the united states .
the purpose of these acquisitions was to increase the market presence of our dolex-branded money transfer offering .
the following table summarizes the preliminary purchase price allocations of all these fiscal 2008 business acquisitions ( in thousands ) : .
|
the customer-related intangible assets have amortization periods of up to 14 years .
the contract-based intangible assets have amortization periods of 3 to 10 years .
these business acquisitions were not significant to our consolidated financial statements and accordingly , we have not provided pro forma information relating to these acquisitions .
in addition , during fiscal 2008 , we acquired a customer list and long-term merchant referral agreement in our canadian merchant services channel for $ 1.7 million .
the value assigned to the customer list of $ 0.1 million was expensed immediately .
the remaining value was assigned to the merchant referral agreement and is being amortized on a straight-line basis over its useful life of 10 years .
fiscal 2007 on july 24 , 2006 , we completed the purchase of a fifty-six percent ownership interest in the asia-pacific merchant acquiring business of the hongkong and shanghai banking corporation limited , or hsbc asia pacific .
this business provides card payment processing services to merchants in the asia-pacific region .
the .
|
| | | total |
|---:|:-----------------------------------------------------------------|:---------------|
| 0 | goodwill | $ 13536 |
| 1 | customer-related intangible assets | 4091 |
| 2 | contract-based intangible assets | 1031 |
| 3 | property and equipment | 267 |
| 4 | other current assets | 502 |
| 5 | total assets acquired | 19427 |
| 6 | current liabilities | -2347 ( 2347 ) |
| 7 | minority interest in equity of subsidiary ( at historical cost ) | -486 ( 486 ) |
| 8 | net assets acquired | $ 16594 |
|
notes to consolidated financial statements 2014 ( continued ) in connection with these discover related purchases , we have sold the contractual rights to future commissions on discover transactions to certain of our isos .
contractual rights sold totaled $ 7.6 million during the year ended may 31 , 2008 and $ 1.0 million during fiscal 2009 .
such sale proceeds are generally collected in installments over periods ranging from three to nine months .
during fiscal 2009 , we collected $ 4.4 million of such proceeds , which are included in the proceeds from sale of investment and contractual rights in our consolidated statement of cash flows .
we do not recognize gains on these sales of contractual rights at the time of sale .
proceeds are deferred and recognized as a reduction of the related commission expense .
during fiscal 2009 , we recognized $ 1.2 million of such deferred sales proceeds as other long-term liabilities .
other 2008 acquisitions during fiscal 2008 , we acquired a majority of the assets of euroenvios money transfer , s.a .
and euroenvios conecta , s.l. , which we collectively refer to as lfs spain .
lfs spain consisted of two privately- held corporations engaged in money transmittal and ancillary services from spain to settlement locations primarily in latin america .
the purpose of the acquisition was to further our strategy of expanding our customer base and market share by opening additional branch locations .
during fiscal 2008 , we acquired a series of money transfer branch locations in the united states .
the purpose of these acquisitions was to increase the market presence of our dolex-branded money transfer offering .
the following table summarizes the preliminary purchase price allocations of all these fiscal 2008 business acquisitions ( in thousands ) : ._| | | total |
|---:|:-----------------------------------------------------------------|:---------------|
| 0 | goodwill | $ 13536 |
| 1 | customer-related intangible assets | 4091 |
| 2 | contract-based intangible assets | 1031 |
| 3 | property and equipment | 267 |
| 4 | other current assets | 502 |
| 5 | total assets acquired | 19427 |
| 6 | current liabilities | -2347 ( 2347 ) |
| 7 | minority interest in equity of subsidiary ( at historical cost ) | -486 ( 486 ) |
| 8 | net assets acquired | $ 16594 |_the customer-related intangible assets have amortization periods of up to 14 years .
the contract-based intangible assets have amortization periods of 3 to 10 years .
these business acquisitions were not significant to our consolidated financial statements and accordingly , we have not provided pro forma information relating to these acquisitions .
in addition , during fiscal 2008 , we acquired a customer list and long-term merchant referral agreement in our canadian merchant services channel for $ 1.7 million .
the value assigned to the customer list of $ 0.1 million was expensed immediately .
the remaining value was assigned to the merchant referral agreement and is being amortized on a straight-line basis over its useful life of 10 years .
fiscal 2007 on july 24 , 2006 , we completed the purchase of a fifty-six percent ownership interest in the asia-pacific merchant acquiring business of the hongkong and shanghai banking corporation limited , or hsbc asia pacific .
this business provides card payment processing services to merchants in the asia-pacific region .
the .
| 2,009
| 70
|
GPN
|
Global Payments
|
Financials
|
Transaction & Payment Processing Services
|
Atlanta, Georgia
|
2016-04-25
| 1,123,360
|
2000
|
what portion of total assets acquired is composed of goodwill?
|
69.7%
|
divide(13536, 19427)
|
notes to consolidated financial statements 2014 ( continued ) in connection with these discover related purchases , we have sold the contractual rights to future commissions on discover transactions to certain of our isos .
contractual rights sold totaled $ 7.6 million during the year ended may 31 , 2008 and $ 1.0 million during fiscal 2009 .
such sale proceeds are generally collected in installments over periods ranging from three to nine months .
during fiscal 2009 , we collected $ 4.4 million of such proceeds , which are included in the proceeds from sale of investment and contractual rights in our consolidated statement of cash flows .
we do not recognize gains on these sales of contractual rights at the time of sale .
proceeds are deferred and recognized as a reduction of the related commission expense .
during fiscal 2009 , we recognized $ 1.2 million of such deferred sales proceeds as other long-term liabilities .
other 2008 acquisitions during fiscal 2008 , we acquired a majority of the assets of euroenvios money transfer , s.a .
and euroenvios conecta , s.l. , which we collectively refer to as lfs spain .
lfs spain consisted of two privately- held corporations engaged in money transmittal and ancillary services from spain to settlement locations primarily in latin america .
the purpose of the acquisition was to further our strategy of expanding our customer base and market share by opening additional branch locations .
during fiscal 2008 , we acquired a series of money transfer branch locations in the united states .
the purpose of these acquisitions was to increase the market presence of our dolex-branded money transfer offering .
the following table summarizes the preliminary purchase price allocations of all these fiscal 2008 business acquisitions ( in thousands ) : .
|
the customer-related intangible assets have amortization periods of up to 14 years .
the contract-based intangible assets have amortization periods of 3 to 10 years .
these business acquisitions were not significant to our consolidated financial statements and accordingly , we have not provided pro forma information relating to these acquisitions .
in addition , during fiscal 2008 , we acquired a customer list and long-term merchant referral agreement in our canadian merchant services channel for $ 1.7 million .
the value assigned to the customer list of $ 0.1 million was expensed immediately .
the remaining value was assigned to the merchant referral agreement and is being amortized on a straight-line basis over its useful life of 10 years .
fiscal 2007 on july 24 , 2006 , we completed the purchase of a fifty-six percent ownership interest in the asia-pacific merchant acquiring business of the hongkong and shanghai banking corporation limited , or hsbc asia pacific .
this business provides card payment processing services to merchants in the asia-pacific region .
the .
|
| | | total |
|---:|:-----------------------------------------------------------------|:---------------|
| 0 | goodwill | $ 13536 |
| 1 | customer-related intangible assets | 4091 |
| 2 | contract-based intangible assets | 1031 |
| 3 | property and equipment | 267 |
| 4 | other current assets | 502 |
| 5 | total assets acquired | 19427 |
| 6 | current liabilities | -2347 ( 2347 ) |
| 7 | minority interest in equity of subsidiary ( at historical cost ) | -486 ( 486 ) |
| 8 | net assets acquired | $ 16594 |
|
notes to consolidated financial statements 2014 ( continued ) in connection with these discover related purchases , we have sold the contractual rights to future commissions on discover transactions to certain of our isos .
contractual rights sold totaled $ 7.6 million during the year ended may 31 , 2008 and $ 1.0 million during fiscal 2009 .
such sale proceeds are generally collected in installments over periods ranging from three to nine months .
during fiscal 2009 , we collected $ 4.4 million of such proceeds , which are included in the proceeds from sale of investment and contractual rights in our consolidated statement of cash flows .
we do not recognize gains on these sales of contractual rights at the time of sale .
proceeds are deferred and recognized as a reduction of the related commission expense .
during fiscal 2009 , we recognized $ 1.2 million of such deferred sales proceeds as other long-term liabilities .
other 2008 acquisitions during fiscal 2008 , we acquired a majority of the assets of euroenvios money transfer , s.a .
and euroenvios conecta , s.l. , which we collectively refer to as lfs spain .
lfs spain consisted of two privately- held corporations engaged in money transmittal and ancillary services from spain to settlement locations primarily in latin america .
the purpose of the acquisition was to further our strategy of expanding our customer base and market share by opening additional branch locations .
during fiscal 2008 , we acquired a series of money transfer branch locations in the united states .
the purpose of these acquisitions was to increase the market presence of our dolex-branded money transfer offering .
the following table summarizes the preliminary purchase price allocations of all these fiscal 2008 business acquisitions ( in thousands ) : ._| | | total |
|---:|:-----------------------------------------------------------------|:---------------|
| 0 | goodwill | $ 13536 |
| 1 | customer-related intangible assets | 4091 |
| 2 | contract-based intangible assets | 1031 |
| 3 | property and equipment | 267 |
| 4 | other current assets | 502 |
| 5 | total assets acquired | 19427 |
| 6 | current liabilities | -2347 ( 2347 ) |
| 7 | minority interest in equity of subsidiary ( at historical cost ) | -486 ( 486 ) |
| 8 | net assets acquired | $ 16594 |_the customer-related intangible assets have amortization periods of up to 14 years .
the contract-based intangible assets have amortization periods of 3 to 10 years .
these business acquisitions were not significant to our consolidated financial statements and accordingly , we have not provided pro forma information relating to these acquisitions .
in addition , during fiscal 2008 , we acquired a customer list and long-term merchant referral agreement in our canadian merchant services channel for $ 1.7 million .
the value assigned to the customer list of $ 0.1 million was expensed immediately .
the remaining value was assigned to the merchant referral agreement and is being amortized on a straight-line basis over its useful life of 10 years .
fiscal 2007 on july 24 , 2006 , we completed the purchase of a fifty-six percent ownership interest in the asia-pacific merchant acquiring business of the hongkong and shanghai banking corporation limited , or hsbc asia pacific .
this business provides card payment processing services to merchants in the asia-pacific region .
the .
| 2,009
| 70
|
GPN
|
Global Payments
|
Financials
|
Transaction & Payment Processing Services
|
Atlanta, Georgia
|
2016-04-25
| 1,123,360
|
2000
| null | null |
finqa96
|
what was the change in billions in total capital ( tier 1 and tier 2 ) from 2007 to 2008?
|
-13.2
|
subtract(108.4, 121.6)
|
mandatorily redeemable securities of subsidiary trusts total mandatorily redeemable securities of subsidiary trusts ( trust preferred securities ) , which qualify as tier 1 capital , were $ 23.899 billion at december 31 , 2008 , as compared to $ 23.594 billion at december 31 , 2007 .
in 2008 , citigroup did not issue any new enhanced trust preferred securities .
the frb issued a final rule , with an effective date of april 11 , 2005 , which retains trust preferred securities in tier 1 capital of bank holding companies , but with stricter quantitative limits and clearer qualitative standards .
under the rule , after a five-year transition period , the aggregate amount of trust preferred securities and certain other restricted core capital elements included in tier 1 capital of internationally active banking organizations , such as citigroup , would be limited to 15% ( 15 % ) of total core capital elements , net of goodwill , less any associated deferred tax liability .
the amount of trust preferred securities and certain other elements in excess of the limit could be included in tier 2 capital , subject to restrictions .
at december 31 , 2008 , citigroup had approximately 11.8% ( 11.8 % ) against the limit .
the company expects to be within restricted core capital limits prior to the implementation date of march 31 , 2009 .
the frb permits additional securities , such as the equity units sold to adia , to be included in tier 1 capital up to 25% ( 25 % ) ( including the restricted core capital elements in the 15% ( 15 % ) limit ) of total core capital elements , net of goodwill less any associated deferred tax liability .
at december 31 , 2008 , citigroup had approximately 16.1% ( 16.1 % ) against the limit .
the frb granted interim capital relief for the impact of adopting sfas 158 at december 31 , 2008 and december 31 , 2007 .
the frb and the ffiec may propose amendments to , and issue interpretations of , risk-based capital guidelines and reporting instructions .
these may affect reported capital ratios and net risk-weighted assets .
capital resources of citigroup 2019s depository institutions citigroup 2019s subsidiary depository institutions in the united states are subject to risk-based capital guidelines issued by their respective primary federal bank regulatory agencies , which are similar to the frb 2019s guidelines .
to be 201cwell capitalized 201d under federal bank regulatory agency definitions , citigroup 2019s depository institutions must have a tier 1 capital ratio of at least 6% ( 6 % ) , a total capital ( tier 1 + tier 2 capital ) ratio of at least 10% ( 10 % ) and a leverage ratio of at least 5% ( 5 % ) , and not be subject to a regulatory directive to meet and maintain higher capital levels .
at december 31 , 2008 , all of citigroup 2019s subsidiary depository institutions were 201cwell capitalized 201d under the federal regulatory agencies 2019 definitions , including citigroup 2019s primary depository institution , citibank , n.a. , as noted in the following table : citibank , n.a .
components of capital and ratios under regulatory guidelines in billions of dollars at year end 2008 2007 .
|
leverage ratio ( 1 ) 5.82 6.65 ( 1 ) tier 1 capital divided by adjusted average assets .
citibank , n.a .
had a net loss for 2008 amounting to $ 6.2 billion .
during 2008 , citibank , n.a .
received contributions from its parent company of $ 6.1 billion .
citibank , n.a .
did not issue any additional subordinated notes in 2008 .
total subordinated notes issued to citicorp holdings inc .
that were outstanding at december 31 , 2008 and december 31 , 2007 and included in citibank , n.a . 2019s tier 2 capital , amounted to $ 28.2 billion .
citibank , n.a .
received an additional $ 14.3 billion in capital contribution from its parent company in january 2009 .
the impact of this contribution is not reflected in the table above .
the substantial events in 2008 impacting the capital of citigroup , and the potential future events discussed on page 94 under 201ccitigroup regulatory capital ratios , 201d also affected , or could affect , citibank , n.a. .
|
| | in billions of dollars at year end | 2008 | 2007 |
|---:|:------------------------------------------|:-----------------|:-----------------|
| 0 | tier 1 capital | $ 71.0 | $ 82.0 |
| 1 | total capital ( tier 1 and tier 2 ) | 108.4 | 121.6 |
| 2 | tier 1 capital ratio | 9.94% ( 9.94 % ) | 8.98% ( 8.98 % ) |
| 3 | total capital ratio ( tier 1 and tier 2 ) | 15.18 | 13.33 |
| 4 | leverage ratio ( 1 ) | 5.82 | 6.65 |
|
mandatorily redeemable securities of subsidiary trusts total mandatorily redeemable securities of subsidiary trusts ( trust preferred securities ) , which qualify as tier 1 capital , were $ 23.899 billion at december 31 , 2008 , as compared to $ 23.594 billion at december 31 , 2007 .
in 2008 , citigroup did not issue any new enhanced trust preferred securities .
the frb issued a final rule , with an effective date of april 11 , 2005 , which retains trust preferred securities in tier 1 capital of bank holding companies , but with stricter quantitative limits and clearer qualitative standards .
under the rule , after a five-year transition period , the aggregate amount of trust preferred securities and certain other restricted core capital elements included in tier 1 capital of internationally active banking organizations , such as citigroup , would be limited to 15% ( 15 % ) of total core capital elements , net of goodwill , less any associated deferred tax liability .
the amount of trust preferred securities and certain other elements in excess of the limit could be included in tier 2 capital , subject to restrictions .
at december 31 , 2008 , citigroup had approximately 11.8% ( 11.8 % ) against the limit .
the company expects to be within restricted core capital limits prior to the implementation date of march 31 , 2009 .
the frb permits additional securities , such as the equity units sold to adia , to be included in tier 1 capital up to 25% ( 25 % ) ( including the restricted core capital elements in the 15% ( 15 % ) limit ) of total core capital elements , net of goodwill less any associated deferred tax liability .
at december 31 , 2008 , citigroup had approximately 16.1% ( 16.1 % ) against the limit .
the frb granted interim capital relief for the impact of adopting sfas 158 at december 31 , 2008 and december 31 , 2007 .
the frb and the ffiec may propose amendments to , and issue interpretations of , risk-based capital guidelines and reporting instructions .
these may affect reported capital ratios and net risk-weighted assets .
capital resources of citigroup 2019s depository institutions citigroup 2019s subsidiary depository institutions in the united states are subject to risk-based capital guidelines issued by their respective primary federal bank regulatory agencies , which are similar to the frb 2019s guidelines .
to be 201cwell capitalized 201d under federal bank regulatory agency definitions , citigroup 2019s depository institutions must have a tier 1 capital ratio of at least 6% ( 6 % ) , a total capital ( tier 1 + tier 2 capital ) ratio of at least 10% ( 10 % ) and a leverage ratio of at least 5% ( 5 % ) , and not be subject to a regulatory directive to meet and maintain higher capital levels .
at december 31 , 2008 , all of citigroup 2019s subsidiary depository institutions were 201cwell capitalized 201d under the federal regulatory agencies 2019 definitions , including citigroup 2019s primary depository institution , citibank , n.a. , as noted in the following table : citibank , n.a .
components of capital and ratios under regulatory guidelines in billions of dollars at year end 2008 2007 ._| | in billions of dollars at year end | 2008 | 2007 |
|---:|:------------------------------------------|:-----------------|:-----------------|
| 0 | tier 1 capital | $ 71.0 | $ 82.0 |
| 1 | total capital ( tier 1 and tier 2 ) | 108.4 | 121.6 |
| 2 | tier 1 capital ratio | 9.94% ( 9.94 % ) | 8.98% ( 8.98 % ) |
| 3 | total capital ratio ( tier 1 and tier 2 ) | 15.18 | 13.33 |
| 4 | leverage ratio ( 1 ) | 5.82 | 6.65 |_leverage ratio ( 1 ) 5.82 6.65 ( 1 ) tier 1 capital divided by adjusted average assets .
citibank , n.a .
had a net loss for 2008 amounting to $ 6.2 billion .
during 2008 , citibank , n.a .
received contributions from its parent company of $ 6.1 billion .
citibank , n.a .
did not issue any additional subordinated notes in 2008 .
total subordinated notes issued to citicorp holdings inc .
that were outstanding at december 31 , 2008 and december 31 , 2007 and included in citibank , n.a . 2019s tier 2 capital , amounted to $ 28.2 billion .
citibank , n.a .
received an additional $ 14.3 billion in capital contribution from its parent company in january 2009 .
the impact of this contribution is not reflected in the table above .
the substantial events in 2008 impacting the capital of citigroup , and the potential future events discussed on page 94 under 201ccitigroup regulatory capital ratios , 201d also affected , or could affect , citibank , n.a. .
| 2,008
| 102
|
C
|
Citigroup
|
Financials
|
Diversified Banks
|
New York City, New York
|
1988-05-31
| 831,001
|
1998
|
what was the change in billions in total capital ( tier 1 and tier 2 ) from 2007 to 2008?
|
-13.2
|
subtract(108.4, 121.6)
|
mandatorily redeemable securities of subsidiary trusts total mandatorily redeemable securities of subsidiary trusts ( trust preferred securities ) , which qualify as tier 1 capital , were $ 23.899 billion at december 31 , 2008 , as compared to $ 23.594 billion at december 31 , 2007 .
in 2008 , citigroup did not issue any new enhanced trust preferred securities .
the frb issued a final rule , with an effective date of april 11 , 2005 , which retains trust preferred securities in tier 1 capital of bank holding companies , but with stricter quantitative limits and clearer qualitative standards .
under the rule , after a five-year transition period , the aggregate amount of trust preferred securities and certain other restricted core capital elements included in tier 1 capital of internationally active banking organizations , such as citigroup , would be limited to 15% ( 15 % ) of total core capital elements , net of goodwill , less any associated deferred tax liability .
the amount of trust preferred securities and certain other elements in excess of the limit could be included in tier 2 capital , subject to restrictions .
at december 31 , 2008 , citigroup had approximately 11.8% ( 11.8 % ) against the limit .
the company expects to be within restricted core capital limits prior to the implementation date of march 31 , 2009 .
the frb permits additional securities , such as the equity units sold to adia , to be included in tier 1 capital up to 25% ( 25 % ) ( including the restricted core capital elements in the 15% ( 15 % ) limit ) of total core capital elements , net of goodwill less any associated deferred tax liability .
at december 31 , 2008 , citigroup had approximately 16.1% ( 16.1 % ) against the limit .
the frb granted interim capital relief for the impact of adopting sfas 158 at december 31 , 2008 and december 31 , 2007 .
the frb and the ffiec may propose amendments to , and issue interpretations of , risk-based capital guidelines and reporting instructions .
these may affect reported capital ratios and net risk-weighted assets .
capital resources of citigroup 2019s depository institutions citigroup 2019s subsidiary depository institutions in the united states are subject to risk-based capital guidelines issued by their respective primary federal bank regulatory agencies , which are similar to the frb 2019s guidelines .
to be 201cwell capitalized 201d under federal bank regulatory agency definitions , citigroup 2019s depository institutions must have a tier 1 capital ratio of at least 6% ( 6 % ) , a total capital ( tier 1 + tier 2 capital ) ratio of at least 10% ( 10 % ) and a leverage ratio of at least 5% ( 5 % ) , and not be subject to a regulatory directive to meet and maintain higher capital levels .
at december 31 , 2008 , all of citigroup 2019s subsidiary depository institutions were 201cwell capitalized 201d under the federal regulatory agencies 2019 definitions , including citigroup 2019s primary depository institution , citibank , n.a. , as noted in the following table : citibank , n.a .
components of capital and ratios under regulatory guidelines in billions of dollars at year end 2008 2007 .
|
leverage ratio ( 1 ) 5.82 6.65 ( 1 ) tier 1 capital divided by adjusted average assets .
citibank , n.a .
had a net loss for 2008 amounting to $ 6.2 billion .
during 2008 , citibank , n.a .
received contributions from its parent company of $ 6.1 billion .
citibank , n.a .
did not issue any additional subordinated notes in 2008 .
total subordinated notes issued to citicorp holdings inc .
that were outstanding at december 31 , 2008 and december 31 , 2007 and included in citibank , n.a . 2019s tier 2 capital , amounted to $ 28.2 billion .
citibank , n.a .
received an additional $ 14.3 billion in capital contribution from its parent company in january 2009 .
the impact of this contribution is not reflected in the table above .
the substantial events in 2008 impacting the capital of citigroup , and the potential future events discussed on page 94 under 201ccitigroup regulatory capital ratios , 201d also affected , or could affect , citibank , n.a. .
|
| | in billions of dollars at year end | 2008 | 2007 |
|---:|:------------------------------------------|:-----------------|:-----------------|
| 0 | tier 1 capital | $ 71.0 | $ 82.0 |
| 1 | total capital ( tier 1 and tier 2 ) | 108.4 | 121.6 |
| 2 | tier 1 capital ratio | 9.94% ( 9.94 % ) | 8.98% ( 8.98 % ) |
| 3 | total capital ratio ( tier 1 and tier 2 ) | 15.18 | 13.33 |
| 4 | leverage ratio ( 1 ) | 5.82 | 6.65 |
|
mandatorily redeemable securities of subsidiary trusts total mandatorily redeemable securities of subsidiary trusts ( trust preferred securities ) , which qualify as tier 1 capital , were $ 23.899 billion at december 31 , 2008 , as compared to $ 23.594 billion at december 31 , 2007 .
in 2008 , citigroup did not issue any new enhanced trust preferred securities .
the frb issued a final rule , with an effective date of april 11 , 2005 , which retains trust preferred securities in tier 1 capital of bank holding companies , but with stricter quantitative limits and clearer qualitative standards .
under the rule , after a five-year transition period , the aggregate amount of trust preferred securities and certain other restricted core capital elements included in tier 1 capital of internationally active banking organizations , such as citigroup , would be limited to 15% ( 15 % ) of total core capital elements , net of goodwill , less any associated deferred tax liability .
the amount of trust preferred securities and certain other elements in excess of the limit could be included in tier 2 capital , subject to restrictions .
at december 31 , 2008 , citigroup had approximately 11.8% ( 11.8 % ) against the limit .
the company expects to be within restricted core capital limits prior to the implementation date of march 31 , 2009 .
the frb permits additional securities , such as the equity units sold to adia , to be included in tier 1 capital up to 25% ( 25 % ) ( including the restricted core capital elements in the 15% ( 15 % ) limit ) of total core capital elements , net of goodwill less any associated deferred tax liability .
at december 31 , 2008 , citigroup had approximately 16.1% ( 16.1 % ) against the limit .
the frb granted interim capital relief for the impact of adopting sfas 158 at december 31 , 2008 and december 31 , 2007 .
the frb and the ffiec may propose amendments to , and issue interpretations of , risk-based capital guidelines and reporting instructions .
these may affect reported capital ratios and net risk-weighted assets .
capital resources of citigroup 2019s depository institutions citigroup 2019s subsidiary depository institutions in the united states are subject to risk-based capital guidelines issued by their respective primary federal bank regulatory agencies , which are similar to the frb 2019s guidelines .
to be 201cwell capitalized 201d under federal bank regulatory agency definitions , citigroup 2019s depository institutions must have a tier 1 capital ratio of at least 6% ( 6 % ) , a total capital ( tier 1 + tier 2 capital ) ratio of at least 10% ( 10 % ) and a leverage ratio of at least 5% ( 5 % ) , and not be subject to a regulatory directive to meet and maintain higher capital levels .
at december 31 , 2008 , all of citigroup 2019s subsidiary depository institutions were 201cwell capitalized 201d under the federal regulatory agencies 2019 definitions , including citigroup 2019s primary depository institution , citibank , n.a. , as noted in the following table : citibank , n.a .
components of capital and ratios under regulatory guidelines in billions of dollars at year end 2008 2007 ._| | in billions of dollars at year end | 2008 | 2007 |
|---:|:------------------------------------------|:-----------------|:-----------------|
| 0 | tier 1 capital | $ 71.0 | $ 82.0 |
| 1 | total capital ( tier 1 and tier 2 ) | 108.4 | 121.6 |
| 2 | tier 1 capital ratio | 9.94% ( 9.94 % ) | 8.98% ( 8.98 % ) |
| 3 | total capital ratio ( tier 1 and tier 2 ) | 15.18 | 13.33 |
| 4 | leverage ratio ( 1 ) | 5.82 | 6.65 |_leverage ratio ( 1 ) 5.82 6.65 ( 1 ) tier 1 capital divided by adjusted average assets .
citibank , n.a .
had a net loss for 2008 amounting to $ 6.2 billion .
during 2008 , citibank , n.a .
received contributions from its parent company of $ 6.1 billion .
citibank , n.a .
did not issue any additional subordinated notes in 2008 .
total subordinated notes issued to citicorp holdings inc .
that were outstanding at december 31 , 2008 and december 31 , 2007 and included in citibank , n.a . 2019s tier 2 capital , amounted to $ 28.2 billion .
citibank , n.a .
received an additional $ 14.3 billion in capital contribution from its parent company in january 2009 .
the impact of this contribution is not reflected in the table above .
the substantial events in 2008 impacting the capital of citigroup , and the potential future events discussed on page 94 under 201ccitigroup regulatory capital ratios , 201d also affected , or could affect , citibank , n.a. .
| 2,008
| 102
|
C
|
Citigroup
|
Financials
|
Diversified Banks
|
New York City, New York
|
1988-05-31
| 831,001
|
1998
| null | null |
finqa97
|
for the the quarter ended december 31 , 2006 what was the percent of the total number of shares purchased bought in october
|
48.2%
|
divide(447700, 929400)
|
issuer purchases of equity securities the following table provides information about our repurchases of common stock during the three-month period ended december 31 , 2006 .
period total number of shares purchased average price paid per total number of shares purchased as part of publicly announced program ( 1 ) maximum number of shares that may yet be purchased under the program ( 2 ) .
|
( 1 ) we repurchased a total of 2226300 shares of our common stock during the quarter ended december 31 , 2006 .
( 2 ) in october 2002 , our board of directors approved a share repurchase program for the repurchase of up to 23 million shares of our common stock .
since the program 2019s inception , an additional 85 million shares have been authorized for repurchase under the program .
management has discretion to determine the number and price of the shares to be repurchased , and the timing of any repurchases in compliance with applicable law and regulation , under the program .
as of december 31 , 2006 , we had repurchased a total of 73669912 shares under the program .
in 2006 , we did not make any unregistered sales of equity securities. .
|
| | period | total number ofshares purchased | average pricepaid pershare | total number of sharespurchased as part ofpublicly announcedprogram ( 1 ) | maximum number ofshares that may yet bepurchased under theprogram ( 2 ) |
|---:|:---------|----------------------------------:|:-----------------------------|----------------------------------------------------------------------------:|--------------------------------------------------------------------------:|
| 0 | october | 447700 | $ 86.92 | 447700 | 36108688 |
| 1 | november | 849200 | 86.79 | 849200 | 35259488 |
| 2 | december | 929400 | 90.74 | 929400 | 34330088 |
|
issuer purchases of equity securities the following table provides information about our repurchases of common stock during the three-month period ended december 31 , 2006 .
period total number of shares purchased average price paid per total number of shares purchased as part of publicly announced program ( 1 ) maximum number of shares that may yet be purchased under the program ( 2 ) ._| | period | total number ofshares purchased | average pricepaid pershare | total number of sharespurchased as part ofpublicly announcedprogram ( 1 ) | maximum number ofshares that may yet bepurchased under theprogram ( 2 ) |
|---:|:---------|----------------------------------:|:-----------------------------|----------------------------------------------------------------------------:|--------------------------------------------------------------------------:|
| 0 | october | 447700 | $ 86.92 | 447700 | 36108688 |
| 1 | november | 849200 | 86.79 | 849200 | 35259488 |
| 2 | december | 929400 | 90.74 | 929400 | 34330088 |_( 1 ) we repurchased a total of 2226300 shares of our common stock during the quarter ended december 31 , 2006 .
( 2 ) in october 2002 , our board of directors approved a share repurchase program for the repurchase of up to 23 million shares of our common stock .
since the program 2019s inception , an additional 85 million shares have been authorized for repurchase under the program .
management has discretion to determine the number and price of the shares to be repurchased , and the timing of any repurchases in compliance with applicable law and regulation , under the program .
as of december 31 , 2006 , we had repurchased a total of 73669912 shares under the program .
in 2006 , we did not make any unregistered sales of equity securities. .
| 2,006
| 37
|
LMT
|
Lockheed Martin
|
Industrials
|
Aerospace & Defense
|
Bethesda, Maryland
|
1957-03-04
| 936,468
|
1995
|
for the the quarter ended december 31 , 2006 what was the percent of the total number of shares purchased bought in october
|
48.2%
|
divide(447700, 929400)
|
issuer purchases of equity securities the following table provides information about our repurchases of common stock during the three-month period ended december 31 , 2006 .
period total number of shares purchased average price paid per total number of shares purchased as part of publicly announced program ( 1 ) maximum number of shares that may yet be purchased under the program ( 2 ) .
|
( 1 ) we repurchased a total of 2226300 shares of our common stock during the quarter ended december 31 , 2006 .
( 2 ) in october 2002 , our board of directors approved a share repurchase program for the repurchase of up to 23 million shares of our common stock .
since the program 2019s inception , an additional 85 million shares have been authorized for repurchase under the program .
management has discretion to determine the number and price of the shares to be repurchased , and the timing of any repurchases in compliance with applicable law and regulation , under the program .
as of december 31 , 2006 , we had repurchased a total of 73669912 shares under the program .
in 2006 , we did not make any unregistered sales of equity securities. .
|
| | period | total number ofshares purchased | average pricepaid pershare | total number of sharespurchased as part ofpublicly announcedprogram ( 1 ) | maximum number ofshares that may yet bepurchased under theprogram ( 2 ) |
|---:|:---------|----------------------------------:|:-----------------------------|----------------------------------------------------------------------------:|--------------------------------------------------------------------------:|
| 0 | october | 447700 | $ 86.92 | 447700 | 36108688 |
| 1 | november | 849200 | 86.79 | 849200 | 35259488 |
| 2 | december | 929400 | 90.74 | 929400 | 34330088 |
|
issuer purchases of equity securities the following table provides information about our repurchases of common stock during the three-month period ended december 31 , 2006 .
period total number of shares purchased average price paid per total number of shares purchased as part of publicly announced program ( 1 ) maximum number of shares that may yet be purchased under the program ( 2 ) ._| | period | total number ofshares purchased | average pricepaid pershare | total number of sharespurchased as part ofpublicly announcedprogram ( 1 ) | maximum number ofshares that may yet bepurchased under theprogram ( 2 ) |
|---:|:---------|----------------------------------:|:-----------------------------|----------------------------------------------------------------------------:|--------------------------------------------------------------------------:|
| 0 | october | 447700 | $ 86.92 | 447700 | 36108688 |
| 1 | november | 849200 | 86.79 | 849200 | 35259488 |
| 2 | december | 929400 | 90.74 | 929400 | 34330088 |_( 1 ) we repurchased a total of 2226300 shares of our common stock during the quarter ended december 31 , 2006 .
( 2 ) in october 2002 , our board of directors approved a share repurchase program for the repurchase of up to 23 million shares of our common stock .
since the program 2019s inception , an additional 85 million shares have been authorized for repurchase under the program .
management has discretion to determine the number and price of the shares to be repurchased , and the timing of any repurchases in compliance with applicable law and regulation , under the program .
as of december 31 , 2006 , we had repurchased a total of 73669912 shares under the program .
in 2006 , we did not make any unregistered sales of equity securities. .
| 2,006
| 37
|
LMT
|
Lockheed Martin
|
Industrials
|
Aerospace & Defense
|
Bethesda, Maryland
|
1957-03-04
| 936,468
|
1995
| null | null |
finqa98
|
what was the percentage change in proportional free cash flow between 2014 and 2015?
|
39%
|
divide(350, 891)
|
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. .
|
| | calculation of proportional free cash flow ( in millions ) | 2015 | 2014 | 2013 | 2015/2014 change | 2014/2013 change |
|---:|:---------------------------------------------------------------------------------------|:-------------|:-------------|:-------------|:-------------------|:-------------------|
| 0 | net cash provided by operating activities | $ 2134 | $ 1791 | $ 2715 | $ 343 | $ -924 ( 924 ) |
| 1 | add : capital expenditures related to service concession assets ( 1 ) | 165 | 2014 | 2014 | 165 | 2014 |
| 2 | adjusted operating cash flow | 2299 | 1791 | 2715 | 508 | -924 ( 924 ) |
| 3 | less : proportional adjustment factor on operating cash activities ( 2 ) ( 3 ) | -558 ( 558 ) | -359 ( 359 ) | -834 ( 834 ) | -199 ( 199 ) | 475 |
| 4 | proportional adjusted operating cash flow | 1741 | 1432 | 1881 | 309 | -449 ( 449 ) |
| 5 | less : proportional maintenance capital expenditures net of reinsurance proceeds ( 2 ) | -449 ( 449 ) | -485 ( 485 ) | -535 ( 535 ) | 36 | 50 |
| 6 | less : proportional non-recoverable environmental capital expenditures ( 2 ) ( 4 ) | -51 ( 51 ) | -56 ( 56 ) | -75 ( 75 ) | 5 | 19 |
| 7 | proportional free cash flow | $ 1241 | $ 891 | $ 1271 | $ 350 | $ -380 ( 380 ) |
|
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 ._| | calculation of proportional free cash flow ( in millions ) | 2015 | 2014 | 2013 | 2015/2014 change | 2014/2013 change |
|---:|:---------------------------------------------------------------------------------------|:-------------|:-------------|:-------------|:-------------------|:-------------------|
| 0 | net cash provided by operating activities | $ 2134 | $ 1791 | $ 2715 | $ 343 | $ -924 ( 924 ) |
| 1 | add : capital expenditures related to service concession assets ( 1 ) | 165 | 2014 | 2014 | 165 | 2014 |
| 2 | adjusted operating cash flow | 2299 | 1791 | 2715 | 508 | -924 ( 924 ) |
| 3 | less : proportional adjustment factor on operating cash activities ( 2 ) ( 3 ) | -558 ( 558 ) | -359 ( 359 ) | -834 ( 834 ) | -199 ( 199 ) | 475 |
| 4 | proportional adjusted operating cash flow | 1741 | 1432 | 1881 | 309 | -449 ( 449 ) |
| 5 | less : proportional maintenance capital expenditures net of reinsurance proceeds ( 2 ) | -449 ( 449 ) | -485 ( 485 ) | -535 ( 535 ) | 36 | 50 |
| 6 | less : proportional non-recoverable environmental capital expenditures ( 2 ) ( 4 ) | -51 ( 51 ) | -56 ( 56 ) | -75 ( 75 ) | 5 | 19 |
| 7 | proportional free cash flow | $ 1241 | $ 891 | $ 1271 | $ 350 | $ -380 ( 380 ) |_( 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. .
| 2,015
| 117
|
AES
|
AES Corporation
|
Utilities
|
Independent Power Producers & Energy Traders
|
Arlington, Virginia
|
1998-10-02
| 874,761
|
1981
|
what was the percentage change in proportional free cash flow between 2014 and 2015?
|
39%
|
divide(350, 891)
|
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. .
|
| | calculation of proportional free cash flow ( in millions ) | 2015 | 2014 | 2013 | 2015/2014 change | 2014/2013 change |
|---:|:---------------------------------------------------------------------------------------|:-------------|:-------------|:-------------|:-------------------|:-------------------|
| 0 | net cash provided by operating activities | $ 2134 | $ 1791 | $ 2715 | $ 343 | $ -924 ( 924 ) |
| 1 | add : capital expenditures related to service concession assets ( 1 ) | 165 | 2014 | 2014 | 165 | 2014 |
| 2 | adjusted operating cash flow | 2299 | 1791 | 2715 | 508 | -924 ( 924 ) |
| 3 | less : proportional adjustment factor on operating cash activities ( 2 ) ( 3 ) | -558 ( 558 ) | -359 ( 359 ) | -834 ( 834 ) | -199 ( 199 ) | 475 |
| 4 | proportional adjusted operating cash flow | 1741 | 1432 | 1881 | 309 | -449 ( 449 ) |
| 5 | less : proportional maintenance capital expenditures net of reinsurance proceeds ( 2 ) | -449 ( 449 ) | -485 ( 485 ) | -535 ( 535 ) | 36 | 50 |
| 6 | less : proportional non-recoverable environmental capital expenditures ( 2 ) ( 4 ) | -51 ( 51 ) | -56 ( 56 ) | -75 ( 75 ) | 5 | 19 |
| 7 | proportional free cash flow | $ 1241 | $ 891 | $ 1271 | $ 350 | $ -380 ( 380 ) |
|
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 ._| | calculation of proportional free cash flow ( in millions ) | 2015 | 2014 | 2013 | 2015/2014 change | 2014/2013 change |
|---:|:---------------------------------------------------------------------------------------|:-------------|:-------------|:-------------|:-------------------|:-------------------|
| 0 | net cash provided by operating activities | $ 2134 | $ 1791 | $ 2715 | $ 343 | $ -924 ( 924 ) |
| 1 | add : capital expenditures related to service concession assets ( 1 ) | 165 | 2014 | 2014 | 165 | 2014 |
| 2 | adjusted operating cash flow | 2299 | 1791 | 2715 | 508 | -924 ( 924 ) |
| 3 | less : proportional adjustment factor on operating cash activities ( 2 ) ( 3 ) | -558 ( 558 ) | -359 ( 359 ) | -834 ( 834 ) | -199 ( 199 ) | 475 |
| 4 | proportional adjusted operating cash flow | 1741 | 1432 | 1881 | 309 | -449 ( 449 ) |
| 5 | less : proportional maintenance capital expenditures net of reinsurance proceeds ( 2 ) | -449 ( 449 ) | -485 ( 485 ) | -535 ( 535 ) | 36 | 50 |
| 6 | less : proportional non-recoverable environmental capital expenditures ( 2 ) ( 4 ) | -51 ( 51 ) | -56 ( 56 ) | -75 ( 75 ) | 5 | 19 |
| 7 | proportional free cash flow | $ 1241 | $ 891 | $ 1271 | $ 350 | $ -380 ( 380 ) |_( 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. .
| 2,015
| 117
|
AES
|
AES Corporation
|
Utilities
|
Independent Power Producers & Energy Traders
|
Arlington, Virginia
|
1998-10-02
| 874,761
|
1981
| null | null |
finqa99
|
what was the increase in long-term debt between 2004 and 2005 in thousands?
|
296048
|
subtract(3451276, 3155228)
|
american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) the term of the economic rights agreement is seventy years ; however , tv azteca has the right to purchase , at fair market value , the economic rights from the company at any time during the last fifty years of the agreement .
should tv azteca elect to purchase the economic rights ( in whole or in part ) , it would also be obligated to repay a proportional amount of the loan discussed above at the time of such election .
the company 2019s obligation to pay tv azteca $ 1.5 million annually would also be reduced proportionally .
the company has accounted for the annual payment of $ 1.5 million as a capital lease ( initially recording an asset and a corresponding liability of approximately $ 18.6 million ) .
the capital lease asset and the discount on the note , which aggregate approximately $ 30.2 million , represent the cost to acquire the economic rights and are being amortized over the seventy-year life of the economic rights agreement .
on a quarterly basis , the company assesses the recoverability of its note receivable from tv azteca .
as of december 31 , 2005 and 2004 , the company has assessed the recoverability of the note receivable from tv azteca and concluded that no adjustment to its carrying value is required .
an executive officer and former director of the company served as a director of tv azteca from december 1999 to february 2006 .
as of december 31 , 2005 and 2004 , the company also had other long-term notes receivable outstanding of approximately $ 11.1 million and $ 11.2 million , respectively .
7 .
financing arrangements outstanding amounts under the company 2019s long-term financing arrangements consisted of the following as of december 31 , ( in thousands ) : .
|
new credit facilities 2014in october 2005 , the company refinanced the two existing credit facilities of its principal operating subsidiaries .
the company replaced the existing american tower $ 1.1 billion senior secured credit facility with a new $ 1.3 billion senior secured credit facility and replaced the existing spectrasite $ 900.0 million senior secured credit facility with a new $ 1.15 billion senior secured credit facility .
as a result of the repayment of the previous credit facilities , the company recorded a net loss on retirement of long-term obligations of $ 9.8 million in the fourth quarter of 2005. .
|
| | | 2005 | 2004 |
|---:|:-------------------------------------------------------------------------|:-------------------|:-------------------|
| 0 | american tower credit facility | $ 793000 | $ 698000 |
| 1 | spectrasite credit facility | 700000 | |
| 2 | senior subordinated notes | 400000 | 400000 |
| 3 | senior subordinated discount notes net of discount and warrant valuation | 160252 | 303755 |
| 4 | senior notes net of discount and premium | 726754 | 1001817 |
| 5 | convertible notes net of discount | 773058 | 830056 |
| 6 | notes payable and capital leases | 60365 | 59986 |
| 7 | total | 3613429 | 3293614 |
| 8 | less current portion of other long-term obligations | -162153 ( 162153 ) | -138386 ( 138386 ) |
| 9 | long-term debt | $ 3451276 | $ 3155228 |
|
american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) the term of the economic rights agreement is seventy years ; however , tv azteca has the right to purchase , at fair market value , the economic rights from the company at any time during the last fifty years of the agreement .
should tv azteca elect to purchase the economic rights ( in whole or in part ) , it would also be obligated to repay a proportional amount of the loan discussed above at the time of such election .
the company 2019s obligation to pay tv azteca $ 1.5 million annually would also be reduced proportionally .
the company has accounted for the annual payment of $ 1.5 million as a capital lease ( initially recording an asset and a corresponding liability of approximately $ 18.6 million ) .
the capital lease asset and the discount on the note , which aggregate approximately $ 30.2 million , represent the cost to acquire the economic rights and are being amortized over the seventy-year life of the economic rights agreement .
on a quarterly basis , the company assesses the recoverability of its note receivable from tv azteca .
as of december 31 , 2005 and 2004 , the company has assessed the recoverability of the note receivable from tv azteca and concluded that no adjustment to its carrying value is required .
an executive officer and former director of the company served as a director of tv azteca from december 1999 to february 2006 .
as of december 31 , 2005 and 2004 , the company also had other long-term notes receivable outstanding of approximately $ 11.1 million and $ 11.2 million , respectively .
7 .
financing arrangements outstanding amounts under the company 2019s long-term financing arrangements consisted of the following as of december 31 , ( in thousands ) : ._| | | 2005 | 2004 |
|---:|:-------------------------------------------------------------------------|:-------------------|:-------------------|
| 0 | american tower credit facility | $ 793000 | $ 698000 |
| 1 | spectrasite credit facility | 700000 | |
| 2 | senior subordinated notes | 400000 | 400000 |
| 3 | senior subordinated discount notes net of discount and warrant valuation | 160252 | 303755 |
| 4 | senior notes net of discount and premium | 726754 | 1001817 |
| 5 | convertible notes net of discount | 773058 | 830056 |
| 6 | notes payable and capital leases | 60365 | 59986 |
| 7 | total | 3613429 | 3293614 |
| 8 | less current portion of other long-term obligations | -162153 ( 162153 ) | -138386 ( 138386 ) |
| 9 | long-term debt | $ 3451276 | $ 3155228 |_new credit facilities 2014in october 2005 , the company refinanced the two existing credit facilities of its principal operating subsidiaries .
the company replaced the existing american tower $ 1.1 billion senior secured credit facility with a new $ 1.3 billion senior secured credit facility and replaced the existing spectrasite $ 900.0 million senior secured credit facility with a new $ 1.15 billion senior secured credit facility .
as a result of the repayment of the previous credit facilities , the company recorded a net loss on retirement of long-term obligations of $ 9.8 million in the fourth quarter of 2005. .
| 2,005
| 85
|
AMT
|
American Tower
|
Real Estate
|
Telecom Tower REITs
|
Boston, Massachusetts
|
2007-11-19
| 1,053,507
|
1995
|
what was the increase in long-term debt between 2004 and 2005 in thousands?
|
296048
|
subtract(3451276, 3155228)
|
american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) the term of the economic rights agreement is seventy years ; however , tv azteca has the right to purchase , at fair market value , the economic rights from the company at any time during the last fifty years of the agreement .
should tv azteca elect to purchase the economic rights ( in whole or in part ) , it would also be obligated to repay a proportional amount of the loan discussed above at the time of such election .
the company 2019s obligation to pay tv azteca $ 1.5 million annually would also be reduced proportionally .
the company has accounted for the annual payment of $ 1.5 million as a capital lease ( initially recording an asset and a corresponding liability of approximately $ 18.6 million ) .
the capital lease asset and the discount on the note , which aggregate approximately $ 30.2 million , represent the cost to acquire the economic rights and are being amortized over the seventy-year life of the economic rights agreement .
on a quarterly basis , the company assesses the recoverability of its note receivable from tv azteca .
as of december 31 , 2005 and 2004 , the company has assessed the recoverability of the note receivable from tv azteca and concluded that no adjustment to its carrying value is required .
an executive officer and former director of the company served as a director of tv azteca from december 1999 to february 2006 .
as of december 31 , 2005 and 2004 , the company also had other long-term notes receivable outstanding of approximately $ 11.1 million and $ 11.2 million , respectively .
7 .
financing arrangements outstanding amounts under the company 2019s long-term financing arrangements consisted of the following as of december 31 , ( in thousands ) : .
|
new credit facilities 2014in october 2005 , the company refinanced the two existing credit facilities of its principal operating subsidiaries .
the company replaced the existing american tower $ 1.1 billion senior secured credit facility with a new $ 1.3 billion senior secured credit facility and replaced the existing spectrasite $ 900.0 million senior secured credit facility with a new $ 1.15 billion senior secured credit facility .
as a result of the repayment of the previous credit facilities , the company recorded a net loss on retirement of long-term obligations of $ 9.8 million in the fourth quarter of 2005. .
|
| | | 2005 | 2004 |
|---:|:-------------------------------------------------------------------------|:-------------------|:-------------------|
| 0 | american tower credit facility | $ 793000 | $ 698000 |
| 1 | spectrasite credit facility | 700000 | |
| 2 | senior subordinated notes | 400000 | 400000 |
| 3 | senior subordinated discount notes net of discount and warrant valuation | 160252 | 303755 |
| 4 | senior notes net of discount and premium | 726754 | 1001817 |
| 5 | convertible notes net of discount | 773058 | 830056 |
| 6 | notes payable and capital leases | 60365 | 59986 |
| 7 | total | 3613429 | 3293614 |
| 8 | less current portion of other long-term obligations | -162153 ( 162153 ) | -138386 ( 138386 ) |
| 9 | long-term debt | $ 3451276 | $ 3155228 |
|
american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) the term of the economic rights agreement is seventy years ; however , tv azteca has the right to purchase , at fair market value , the economic rights from the company at any time during the last fifty years of the agreement .
should tv azteca elect to purchase the economic rights ( in whole or in part ) , it would also be obligated to repay a proportional amount of the loan discussed above at the time of such election .
the company 2019s obligation to pay tv azteca $ 1.5 million annually would also be reduced proportionally .
the company has accounted for the annual payment of $ 1.5 million as a capital lease ( initially recording an asset and a corresponding liability of approximately $ 18.6 million ) .
the capital lease asset and the discount on the note , which aggregate approximately $ 30.2 million , represent the cost to acquire the economic rights and are being amortized over the seventy-year life of the economic rights agreement .
on a quarterly basis , the company assesses the recoverability of its note receivable from tv azteca .
as of december 31 , 2005 and 2004 , the company has assessed the recoverability of the note receivable from tv azteca and concluded that no adjustment to its carrying value is required .
an executive officer and former director of the company served as a director of tv azteca from december 1999 to february 2006 .
as of december 31 , 2005 and 2004 , the company also had other long-term notes receivable outstanding of approximately $ 11.1 million and $ 11.2 million , respectively .
7 .
financing arrangements outstanding amounts under the company 2019s long-term financing arrangements consisted of the following as of december 31 , ( in thousands ) : ._| | | 2005 | 2004 |
|---:|:-------------------------------------------------------------------------|:-------------------|:-------------------|
| 0 | american tower credit facility | $ 793000 | $ 698000 |
| 1 | spectrasite credit facility | 700000 | |
| 2 | senior subordinated notes | 400000 | 400000 |
| 3 | senior subordinated discount notes net of discount and warrant valuation | 160252 | 303755 |
| 4 | senior notes net of discount and premium | 726754 | 1001817 |
| 5 | convertible notes net of discount | 773058 | 830056 |
| 6 | notes payable and capital leases | 60365 | 59986 |
| 7 | total | 3613429 | 3293614 |
| 8 | less current portion of other long-term obligations | -162153 ( 162153 ) | -138386 ( 138386 ) |
| 9 | long-term debt | $ 3451276 | $ 3155228 |_new credit facilities 2014in october 2005 , the company refinanced the two existing credit facilities of its principal operating subsidiaries .
the company replaced the existing american tower $ 1.1 billion senior secured credit facility with a new $ 1.3 billion senior secured credit facility and replaced the existing spectrasite $ 900.0 million senior secured credit facility with a new $ 1.15 billion senior secured credit facility .
as a result of the repayment of the previous credit facilities , the company recorded a net loss on retirement of long-term obligations of $ 9.8 million in the fourth quarter of 2005. .
| 2,005
| 85
|
AMT
|
American Tower
|
Real Estate
|
Telecom Tower REITs
|
Boston, Massachusetts
|
2007-11-19
| 1,053,507
|
1995
| null | null |
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