chloecodes/finqa-de · Datasets at Hugging Face

finqa200

what was the percentage growth of the five-year cumulative total return of s&p financials from 2015 to 2016

null

divide(subtract(188.9, 153.9), 153.9)

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 |

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 growth of the five-year cumulative total return of s&p financials from 2015 to 2016

null

divide(subtract(188.9, 153.9), 153.9)

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 |

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

finqa201

in these equity investment balances , what is the percent of unfunded commitments at december 31 , 2012?

6.3%

divide(685, 10877)

market risk management 2013 equity and other investment risk equity investment risk is the risk of potential losses associated with investing in both private and public equity markets . pnc invests primarily in private equity markets . in addition to extending credit , taking deposits , and underwriting and trading financial instruments , we make and manage direct investments in a variety of transactions , including management buyouts , recapitalizations , and growth financings in a variety of industries . we also have investments in affiliated and non- affiliated funds that make similar investments in private equity and in debt and equity-oriented hedge funds . the economic and/or book value of these investments and other assets such as loan servicing rights are directly affected by changes in market factors . the primary risk measurement for equity and other investments is economic capital . economic capital is a common measure of risk for credit , market and operational risk . it is an estimate of the potential value depreciation over a one year horizon commensurate with solvency expectations of an institution rated single-a by the credit rating agencies . given the illiquid nature of many of these types of investments , it can be a challenge to determine their fair values . see note 9 fair value in the notes to consolidated financial statements in item 8 of this report for additional information . various pnc business units manage our equity and other investment activities . our businesses are responsible for making investment decisions within the approved policy limits and associated guidelines . a summary of our equity investments follows : table 55 : equity investments summary in millions december 31 december 31 .

blackrock pnc owned approximately 36 million common stock equivalent shares of blackrock equity at december 31 , 2013 , accounted for under the equity method . the primary risk measurement , similar to other equity investments , is economic capital . the business segments review section of this item 7 includes additional information about blackrock . tax credit investments included in our equity investments are tax credit investments which are accounted for under the equity method . these investments , as well as equity investments held by consolidated partnerships , totaled $ 2.7 billion at december 31 , 2013 and $ 3.0 billion at december 31 , 2012 . these equity investment balances include unfunded commitments totaling $ 802 million and $ 685 million at december 31 , 2013 and december 31 , 2012 , respectively . these unfunded commitments are included in other liabilities on our consolidated balance sheet . note 3 loan sale and servicing activities and variable interest entities in the notes to consolidated financial statements in item 8 of this report has further information on tax credit investments . see also the critical accounting estimates and judgments section of this item 7 regarding asu 2014-01 and our intention to early adopt this guidance in the first quarter of 2014 . private equity the private equity portfolio is an illiquid portfolio comprised of mezzanine and equity investments that vary by industry , stage and type of investment . private equity investments carried at estimated fair value totaled $ 1.7 billion at december 31 , 2013 and $ 1.8 billion at december 31 , 2012 . as of december 31 , 2013 , $ 1.1 billion was invested directly in a variety of companies and $ .6 billion was invested indirectly through various private equity funds . included in direct investments are investment activities of two private equity funds that are consolidated for financial reporting purposes . the noncontrolling interests of these funds totaled $ 236 million as of december 31 , 2013 . the interests held in indirect private equity funds are not redeemable , but pnc may receive distributions over the life of the partnership from liquidation of the underlying investments . see item 1 business 2013 supervision and regulation and item 1a risk factors of this report for discussion of the potential impacts of the volcker rule provisions of dodd-frank on our interests in and sponsorship of private funds covered by the volcker our unfunded commitments related to private equity totaled $ 164 million at december 31 , 2013 compared with $ 182 million at december 31 , 2012 . during 2013 , we sold 4 million of visa class b common shares , in addition to the 9 million shares sold in 2012 , and entered into swap agreements with the purchaser of the shares . see note 9 fair value and note 17 financial derivatives in the notes to consolidated financial statements in item 8 of this report for additional information . at december 31 , 2013 , our investment in visa class b common shares totaled approximately 10 million shares and was recorded at $ 158 million . based on the december 31 , 2013 closing price of $ 222.68 for the visa class a common shares , the fair value of our total investment was approximately $ 971 million at the 94 the pnc financial services group , inc . 2013 form 10-k .

| | in millions | december 312013 | december 312012 | |---:|:-----------------------|:------------------|:------------------| | 0 | blackrock | $ 5940 | $ 5614 | | 1 | tax credit investments | 2676 | 2965 | | 2 | private equity | 1656 | 1802 | | 3 | visa | 158 | 251 | | 4 | other | 234 | 245 | | 5 | total | $ 10664 | $ 10877 |

market risk management 2013 equity and other investment risk equity investment risk is the risk of potential losses associated with investing in both private and public equity markets . pnc invests primarily in private equity markets . in addition to extending credit , taking deposits , and underwriting and trading financial instruments , we make and manage direct investments in a variety of transactions , including management buyouts , recapitalizations , and growth financings in a variety of industries . we also have investments in affiliated and non- affiliated funds that make similar investments in private equity and in debt and equity-oriented hedge funds . the economic and/or book value of these investments and other assets such as loan servicing rights are directly affected by changes in market factors . the primary risk measurement for equity and other investments is economic capital . economic capital is a common measure of risk for credit , market and operational risk . it is an estimate of the potential value depreciation over a one year horizon commensurate with solvency expectations of an institution rated single-a by the credit rating agencies . given the illiquid nature of many of these types of investments , it can be a challenge to determine their fair values . see note 9 fair value in the notes to consolidated financial statements in item 8 of this report for additional information . various pnc business units manage our equity and other investment activities . our businesses are responsible for making investment decisions within the approved policy limits and associated guidelines . a summary of our equity investments follows : table 55 : equity investments summary in millions december 31 december 31 ._| | in millions | december 312013 | december 312012 | |---:|:-----------------------|:------------------|:------------------| | 0 | blackrock | $ 5940 | $ 5614 | | 1 | tax credit investments | 2676 | 2965 | | 2 | private equity | 1656 | 1802 | | 3 | visa | 158 | 251 | | 4 | other | 234 | 245 | | 5 | total | $ 10664 | $ 10877 |_blackrock pnc owned approximately 36 million common stock equivalent shares of blackrock equity at december 31 , 2013 , accounted for under the equity method . the primary risk measurement , similar to other equity investments , is economic capital . the business segments review section of this item 7 includes additional information about blackrock . tax credit investments included in our equity investments are tax credit investments which are accounted for under the equity method . these investments , as well as equity investments held by consolidated partnerships , totaled $ 2.7 billion at december 31 , 2013 and $ 3.0 billion at december 31 , 2012 . these equity investment balances include unfunded commitments totaling $ 802 million and $ 685 million at december 31 , 2013 and december 31 , 2012 , respectively . these unfunded commitments are included in other liabilities on our consolidated balance sheet . note 3 loan sale and servicing activities and variable interest entities in the notes to consolidated financial statements in item 8 of this report has further information on tax credit investments . see also the critical accounting estimates and judgments section of this item 7 regarding asu 2014-01 and our intention to early adopt this guidance in the first quarter of 2014 . private equity the private equity portfolio is an illiquid portfolio comprised of mezzanine and equity investments that vary by industry , stage and type of investment . private equity investments carried at estimated fair value totaled $ 1.7 billion at december 31 , 2013 and $ 1.8 billion at december 31 , 2012 . as of december 31 , 2013 , $ 1.1 billion was invested directly in a variety of companies and $ .6 billion was invested indirectly through various private equity funds . included in direct investments are investment activities of two private equity funds that are consolidated for financial reporting purposes . the noncontrolling interests of these funds totaled $ 236 million as of december 31 , 2013 . the interests held in indirect private equity funds are not redeemable , but pnc may receive distributions over the life of the partnership from liquidation of the underlying investments . see item 1 business 2013 supervision and regulation and item 1a risk factors of this report for discussion of the potential impacts of the volcker rule provisions of dodd-frank on our interests in and sponsorship of private funds covered by the volcker our unfunded commitments related to private equity totaled $ 164 million at december 31 , 2013 compared with $ 182 million at december 31 , 2012 . during 2013 , we sold 4 million of visa class b common shares , in addition to the 9 million shares sold in 2012 , and entered into swap agreements with the purchaser of the shares . see note 9 fair value and note 17 financial derivatives in the notes to consolidated financial statements in item 8 of this report for additional information . at december 31 , 2013 , our investment in visa class b common shares totaled approximately 10 million shares and was recorded at $ 158 million . based on the december 31 , 2013 closing price of $ 222.68 for the visa class a common shares , the fair value of our total investment was approximately $ 971 million at the 94 the pnc financial services group , inc . 2013 form 10-k .

2,013

112

PNC

PNC Financial Services

Financials

Diversified Banks

Pittsburgh, Pennsylvania

1988-04-30

713,676

1845

in these equity investment balances , what is the percent of unfunded commitments at december 31 , 2012?

6.3%

divide(685, 10877)

market risk management 2013 equity and other investment risk equity investment risk is the risk of potential losses associated with investing in both private and public equity markets . pnc invests primarily in private equity markets . in addition to extending credit , taking deposits , and underwriting and trading financial instruments , we make and manage direct investments in a variety of transactions , including management buyouts , recapitalizations , and growth financings in a variety of industries . we also have investments in affiliated and non- affiliated funds that make similar investments in private equity and in debt and equity-oriented hedge funds . the economic and/or book value of these investments and other assets such as loan servicing rights are directly affected by changes in market factors . the primary risk measurement for equity and other investments is economic capital . economic capital is a common measure of risk for credit , market and operational risk . it is an estimate of the potential value depreciation over a one year horizon commensurate with solvency expectations of an institution rated single-a by the credit rating agencies . given the illiquid nature of many of these types of investments , it can be a challenge to determine their fair values . see note 9 fair value in the notes to consolidated financial statements in item 8 of this report for additional information . various pnc business units manage our equity and other investment activities . our businesses are responsible for making investment decisions within the approved policy limits and associated guidelines . a summary of our equity investments follows : table 55 : equity investments summary in millions december 31 december 31 .

blackrock pnc owned approximately 36 million common stock equivalent shares of blackrock equity at december 31 , 2013 , accounted for under the equity method . the primary risk measurement , similar to other equity investments , is economic capital . the business segments review section of this item 7 includes additional information about blackrock . tax credit investments included in our equity investments are tax credit investments which are accounted for under the equity method . these investments , as well as equity investments held by consolidated partnerships , totaled $ 2.7 billion at december 31 , 2013 and $ 3.0 billion at december 31 , 2012 . these equity investment balances include unfunded commitments totaling $ 802 million and $ 685 million at december 31 , 2013 and december 31 , 2012 , respectively . these unfunded commitments are included in other liabilities on our consolidated balance sheet . note 3 loan sale and servicing activities and variable interest entities in the notes to consolidated financial statements in item 8 of this report has further information on tax credit investments . see also the critical accounting estimates and judgments section of this item 7 regarding asu 2014-01 and our intention to early adopt this guidance in the first quarter of 2014 . private equity the private equity portfolio is an illiquid portfolio comprised of mezzanine and equity investments that vary by industry , stage and type of investment . private equity investments carried at estimated fair value totaled $ 1.7 billion at december 31 , 2013 and $ 1.8 billion at december 31 , 2012 . as of december 31 , 2013 , $ 1.1 billion was invested directly in a variety of companies and $ .6 billion was invested indirectly through various private equity funds . included in direct investments are investment activities of two private equity funds that are consolidated for financial reporting purposes . the noncontrolling interests of these funds totaled $ 236 million as of december 31 , 2013 . the interests held in indirect private equity funds are not redeemable , but pnc may receive distributions over the life of the partnership from liquidation of the underlying investments . see item 1 business 2013 supervision and regulation and item 1a risk factors of this report for discussion of the potential impacts of the volcker rule provisions of dodd-frank on our interests in and sponsorship of private funds covered by the volcker our unfunded commitments related to private equity totaled $ 164 million at december 31 , 2013 compared with $ 182 million at december 31 , 2012 . during 2013 , we sold 4 million of visa class b common shares , in addition to the 9 million shares sold in 2012 , and entered into swap agreements with the purchaser of the shares . see note 9 fair value and note 17 financial derivatives in the notes to consolidated financial statements in item 8 of this report for additional information . at december 31 , 2013 , our investment in visa class b common shares totaled approximately 10 million shares and was recorded at $ 158 million . based on the december 31 , 2013 closing price of $ 222.68 for the visa class a common shares , the fair value of our total investment was approximately $ 971 million at the 94 the pnc financial services group , inc . 2013 form 10-k .

| | in millions | december 312013 | december 312012 | |---:|:-----------------------|:------------------|:------------------| | 0 | blackrock | $ 5940 | $ 5614 | | 1 | tax credit investments | 2676 | 2965 | | 2 | private equity | 1656 | 1802 | | 3 | visa | 158 | 251 | | 4 | other | 234 | 245 | | 5 | total | $ 10664 | $ 10877 |

market risk management 2013 equity and other investment risk equity investment risk is the risk of potential losses associated with investing in both private and public equity markets . pnc invests primarily in private equity markets . in addition to extending credit , taking deposits , and underwriting and trading financial instruments , we make and manage direct investments in a variety of transactions , including management buyouts , recapitalizations , and growth financings in a variety of industries . we also have investments in affiliated and non- affiliated funds that make similar investments in private equity and in debt and equity-oriented hedge funds . the economic and/or book value of these investments and other assets such as loan servicing rights are directly affected by changes in market factors . the primary risk measurement for equity and other investments is economic capital . economic capital is a common measure of risk for credit , market and operational risk . it is an estimate of the potential value depreciation over a one year horizon commensurate with solvency expectations of an institution rated single-a by the credit rating agencies . given the illiquid nature of many of these types of investments , it can be a challenge to determine their fair values . see note 9 fair value in the notes to consolidated financial statements in item 8 of this report for additional information . various pnc business units manage our equity and other investment activities . our businesses are responsible for making investment decisions within the approved policy limits and associated guidelines . a summary of our equity investments follows : table 55 : equity investments summary in millions december 31 december 31 ._| | in millions | december 312013 | december 312012 | |---:|:-----------------------|:------------------|:------------------| | 0 | blackrock | $ 5940 | $ 5614 | | 1 | tax credit investments | 2676 | 2965 | | 2 | private equity | 1656 | 1802 | | 3 | visa | 158 | 251 | | 4 | other | 234 | 245 | | 5 | total | $ 10664 | $ 10877 |_blackrock pnc owned approximately 36 million common stock equivalent shares of blackrock equity at december 31 , 2013 , accounted for under the equity method . the primary risk measurement , similar to other equity investments , is economic capital . the business segments review section of this item 7 includes additional information about blackrock . tax credit investments included in our equity investments are tax credit investments which are accounted for under the equity method . these investments , as well as equity investments held by consolidated partnerships , totaled $ 2.7 billion at december 31 , 2013 and $ 3.0 billion at december 31 , 2012 . these equity investment balances include unfunded commitments totaling $ 802 million and $ 685 million at december 31 , 2013 and december 31 , 2012 , respectively . these unfunded commitments are included in other liabilities on our consolidated balance sheet . note 3 loan sale and servicing activities and variable interest entities in the notes to consolidated financial statements in item 8 of this report has further information on tax credit investments . see also the critical accounting estimates and judgments section of this item 7 regarding asu 2014-01 and our intention to early adopt this guidance in the first quarter of 2014 . private equity the private equity portfolio is an illiquid portfolio comprised of mezzanine and equity investments that vary by industry , stage and type of investment . private equity investments carried at estimated fair value totaled $ 1.7 billion at december 31 , 2013 and $ 1.8 billion at december 31 , 2012 . as of december 31 , 2013 , $ 1.1 billion was invested directly in a variety of companies and $ .6 billion was invested indirectly through various private equity funds . included in direct investments are investment activities of two private equity funds that are consolidated for financial reporting purposes . the noncontrolling interests of these funds totaled $ 236 million as of december 31 , 2013 . the interests held in indirect private equity funds are not redeemable , but pnc may receive distributions over the life of the partnership from liquidation of the underlying investments . see item 1 business 2013 supervision and regulation and item 1a risk factors of this report for discussion of the potential impacts of the volcker rule provisions of dodd-frank on our interests in and sponsorship of private funds covered by the volcker our unfunded commitments related to private equity totaled $ 164 million at december 31 , 2013 compared with $ 182 million at december 31 , 2012 . during 2013 , we sold 4 million of visa class b common shares , in addition to the 9 million shares sold in 2012 , and entered into swap agreements with the purchaser of the shares . see note 9 fair value and note 17 financial derivatives in the notes to consolidated financial statements in item 8 of this report for additional information . at december 31 , 2013 , our investment in visa class b common shares totaled approximately 10 million shares and was recorded at $ 158 million . based on the december 31 , 2013 closing price of $ 222.68 for the visa class a common shares , the fair value of our total investment was approximately $ 971 million at the 94 the pnc financial services group , inc . 2013 form 10-k .

2,013

112

PNC

PNC Financial Services

Financials

Diversified Banks

Pittsburgh, Pennsylvania

1988-04-30

713,676

1845

null

finqa202

what was the change in millions of weighted average common shares outstanding for diluted computations from 2016 to 2017?

-12.5

subtract(290.6, 303.1)

of prior service cost or credits , and net actuarial gains or losses ) as part of non-operating income . we adopted the requirements of asu no . 2017-07 on january 1 , 2018 using the retrospective transition method . we expect the adoption of asu no . 2017-07 to result in an increase to consolidated operating profit of $ 471 million and $ 846 million for 2016 and 2017 , respectively , and a corresponding decrease in non-operating income for each year . we do not expect any impact to our business segment operating profit , our consolidated net earnings , or cash flows as a result of adopting asu no . 2017-07 . intangibles-goodwill and other in january 2017 , the fasb issued asu no . 2017-04 , intangibles-goodwill and other ( topic 350 ) , which eliminates the requirement to compare the implied fair value of reporting unit goodwill with the carrying amount of that goodwill ( commonly referred to as step 2 ) from the goodwill impairment test . the new standard does not change how a goodwill impairment is identified . wewill continue to perform our quantitative and qualitative goodwill impairment test by comparing the fair value of each reporting unit to its carrying amount , but if we are required to recognize a goodwill impairment charge , under the new standard the amount of the charge will be calculated by subtracting the reporting unit 2019s fair value from its carrying amount . under the prior standard , if we were required to recognize a goodwill impairment charge , step 2 required us to calculate the implied value of goodwill by assigning the fair value of a reporting unit to all of its assets and liabilities as if that reporting unit had been acquired in a business combination and the amount of the charge was calculated by subtracting the reporting unit 2019s implied fair value of goodwill from its actual goodwill balance . the new standard is effective for interim and annual reporting periods beginning after december 15 , 2019 , with early adoption permitted , and should be applied prospectively from the date of adoption . we elected to adopt the new standard for future goodwill impairment tests at the beginning of the third quarter of 2017 , because it significantly simplifies the evaluation of goodwill for impairment . the impact of the new standard will depend on the outcomes of future goodwill impairment tests . derivatives and hedging inaugust 2017 , the fasb issuedasu no . 2017-12derivatives and hedging ( topic 815 ) , which eliminates the requirement to separately measure and report hedge ineffectiveness . the guidance is effective for fiscal years beginning after december 15 , 2018 , with early adoption permitted . we do not expect a significant impact to our consolidated assets and liabilities , net earnings , or cash flows as a result of adopting this new standard . we plan to adopt the new standard january 1 , 2019 . leases in february 2016 , the fasb issuedasu no . 2016-02 , leases ( topic 842 ) , which requires the recognition of lease assets and lease liabilities on the balance sheet and disclosure of key information about leasing arrangements for both lessees and lessors . the new standard is effective january 1 , 2019 for public companies , with early adoption permitted . the new standard currently requires the application of a modified retrospective approach to the beginning of the earliest period presented in the financial statements . we are continuing to evaluate the expected impact to our consolidated financial statements and related disclosures . we plan to adopt the new standard effective january 1 , 2019 . note 2 2013 earnings per share theweighted average number of shares outstanding used to compute earnings per common sharewere as follows ( in millions ) : .

we compute basic and diluted earnings per common share by dividing net earnings by the respectiveweighted average number of common shares outstanding for the periods presented . our calculation of diluted earnings per common share also includes the dilutive effects for the assumed vesting of outstanding restricted stock units ( rsus ) , performance stock units ( psus ) and exercise of outstanding stock options based on the treasury stock method . there were no significant anti-dilutive equity awards for the years ended december 31 , 2017 , 2016 and 2015 . note 3 2013 acquisitions and divestitures acquisition of sikorsky aircraft corporation on november 6 , 2015 , we completed the acquisition of sikorsky from united technologies corporation ( utc ) and certain of utc 2019s subsidiaries . the purchase price of the acquisition was $ 9.0 billion , net of cash acquired . as a result of the acquisition .

| | | 2017 | 2016 | 2015 | |---:|:--------------------------------------------------------------------|-------:|-------:|-------:| | 0 | weighted average common shares outstanding for basic computations | 287.8 | 299.3 | 310.3 | | 1 | weighted average dilutive effect of equity awards | 2.8 | 3.8 | 4.4 | | 2 | weighted average common shares outstanding for diluted computations | 290.6 | 303.1 | 314.7 |

of prior service cost or credits , and net actuarial gains or losses ) as part of non-operating income . we adopted the requirements of asu no . 2017-07 on january 1 , 2018 using the retrospective transition method . we expect the adoption of asu no . 2017-07 to result in an increase to consolidated operating profit of $ 471 million and $ 846 million for 2016 and 2017 , respectively , and a corresponding decrease in non-operating income for each year . we do not expect any impact to our business segment operating profit , our consolidated net earnings , or cash flows as a result of adopting asu no . 2017-07 . intangibles-goodwill and other in january 2017 , the fasb issued asu no . 2017-04 , intangibles-goodwill and other ( topic 350 ) , which eliminates the requirement to compare the implied fair value of reporting unit goodwill with the carrying amount of that goodwill ( commonly referred to as step 2 ) from the goodwill impairment test . the new standard does not change how a goodwill impairment is identified . wewill continue to perform our quantitative and qualitative goodwill impairment test by comparing the fair value of each reporting unit to its carrying amount , but if we are required to recognize a goodwill impairment charge , under the new standard the amount of the charge will be calculated by subtracting the reporting unit 2019s fair value from its carrying amount . under the prior standard , if we were required to recognize a goodwill impairment charge , step 2 required us to calculate the implied value of goodwill by assigning the fair value of a reporting unit to all of its assets and liabilities as if that reporting unit had been acquired in a business combination and the amount of the charge was calculated by subtracting the reporting unit 2019s implied fair value of goodwill from its actual goodwill balance . the new standard is effective for interim and annual reporting periods beginning after december 15 , 2019 , with early adoption permitted , and should be applied prospectively from the date of adoption . we elected to adopt the new standard for future goodwill impairment tests at the beginning of the third quarter of 2017 , because it significantly simplifies the evaluation of goodwill for impairment . the impact of the new standard will depend on the outcomes of future goodwill impairment tests . derivatives and hedging inaugust 2017 , the fasb issuedasu no . 2017-12derivatives and hedging ( topic 815 ) , which eliminates the requirement to separately measure and report hedge ineffectiveness . the guidance is effective for fiscal years beginning after december 15 , 2018 , with early adoption permitted . we do not expect a significant impact to our consolidated assets and liabilities , net earnings , or cash flows as a result of adopting this new standard . we plan to adopt the new standard january 1 , 2019 . leases in february 2016 , the fasb issuedasu no . 2016-02 , leases ( topic 842 ) , which requires the recognition of lease assets and lease liabilities on the balance sheet and disclosure of key information about leasing arrangements for both lessees and lessors . the new standard is effective january 1 , 2019 for public companies , with early adoption permitted . the new standard currently requires the application of a modified retrospective approach to the beginning of the earliest period presented in the financial statements . we are continuing to evaluate the expected impact to our consolidated financial statements and related disclosures . we plan to adopt the new standard effective january 1 , 2019 . note 2 2013 earnings per share theweighted average number of shares outstanding used to compute earnings per common sharewere as follows ( in millions ) : ._| | | 2017 | 2016 | 2015 | |---:|:--------------------------------------------------------------------|-------:|-------:|-------:| | 0 | weighted average common shares outstanding for basic computations | 287.8 | 299.3 | 310.3 | | 1 | weighted average dilutive effect of equity awards | 2.8 | 3.8 | 4.4 | | 2 | weighted average common shares outstanding for diluted computations | 290.6 | 303.1 | 314.7 |_we compute basic and diluted earnings per common share by dividing net earnings by the respectiveweighted average number of common shares outstanding for the periods presented . our calculation of diluted earnings per common share also includes the dilutive effects for the assumed vesting of outstanding restricted stock units ( rsus ) , performance stock units ( psus ) and exercise of outstanding stock options based on the treasury stock method . there were no significant anti-dilutive equity awards for the years ended december 31 , 2017 , 2016 and 2015 . note 3 2013 acquisitions and divestitures acquisition of sikorsky aircraft corporation on november 6 , 2015 , we completed the acquisition of sikorsky from united technologies corporation ( utc ) and certain of utc 2019s subsidiaries . the purchase price of the acquisition was $ 9.0 billion , net of cash acquired . as a result of the acquisition .

2,017

80

LMT

Lockheed Martin

Industrials

Aerospace & Defense

Bethesda, Maryland

1957-03-04

936,468

1995

what was the change in millions of weighted average common shares outstanding for diluted computations from 2016 to 2017?

-12.5

subtract(290.6, 303.1)

of prior service cost or credits , and net actuarial gains or losses ) as part of non-operating income . we adopted the requirements of asu no . 2017-07 on january 1 , 2018 using the retrospective transition method . we expect the adoption of asu no . 2017-07 to result in an increase to consolidated operating profit of $ 471 million and $ 846 million for 2016 and 2017 , respectively , and a corresponding decrease in non-operating income for each year . we do not expect any impact to our business segment operating profit , our consolidated net earnings , or cash flows as a result of adopting asu no . 2017-07 . intangibles-goodwill and other in january 2017 , the fasb issued asu no . 2017-04 , intangibles-goodwill and other ( topic 350 ) , which eliminates the requirement to compare the implied fair value of reporting unit goodwill with the carrying amount of that goodwill ( commonly referred to as step 2 ) from the goodwill impairment test . the new standard does not change how a goodwill impairment is identified . wewill continue to perform our quantitative and qualitative goodwill impairment test by comparing the fair value of each reporting unit to its carrying amount , but if we are required to recognize a goodwill impairment charge , under the new standard the amount of the charge will be calculated by subtracting the reporting unit 2019s fair value from its carrying amount . under the prior standard , if we were required to recognize a goodwill impairment charge , step 2 required us to calculate the implied value of goodwill by assigning the fair value of a reporting unit to all of its assets and liabilities as if that reporting unit had been acquired in a business combination and the amount of the charge was calculated by subtracting the reporting unit 2019s implied fair value of goodwill from its actual goodwill balance . the new standard is effective for interim and annual reporting periods beginning after december 15 , 2019 , with early adoption permitted , and should be applied prospectively from the date of adoption . we elected to adopt the new standard for future goodwill impairment tests at the beginning of the third quarter of 2017 , because it significantly simplifies the evaluation of goodwill for impairment . the impact of the new standard will depend on the outcomes of future goodwill impairment tests . derivatives and hedging inaugust 2017 , the fasb issuedasu no . 2017-12derivatives and hedging ( topic 815 ) , which eliminates the requirement to separately measure and report hedge ineffectiveness . the guidance is effective for fiscal years beginning after december 15 , 2018 , with early adoption permitted . we do not expect a significant impact to our consolidated assets and liabilities , net earnings , or cash flows as a result of adopting this new standard . we plan to adopt the new standard january 1 , 2019 . leases in february 2016 , the fasb issuedasu no . 2016-02 , leases ( topic 842 ) , which requires the recognition of lease assets and lease liabilities on the balance sheet and disclosure of key information about leasing arrangements for both lessees and lessors . the new standard is effective january 1 , 2019 for public companies , with early adoption permitted . the new standard currently requires the application of a modified retrospective approach to the beginning of the earliest period presented in the financial statements . we are continuing to evaluate the expected impact to our consolidated financial statements and related disclosures . we plan to adopt the new standard effective january 1 , 2019 . note 2 2013 earnings per share theweighted average number of shares outstanding used to compute earnings per common sharewere as follows ( in millions ) : .

we compute basic and diluted earnings per common share by dividing net earnings by the respectiveweighted average number of common shares outstanding for the periods presented . our calculation of diluted earnings per common share also includes the dilutive effects for the assumed vesting of outstanding restricted stock units ( rsus ) , performance stock units ( psus ) and exercise of outstanding stock options based on the treasury stock method . there were no significant anti-dilutive equity awards for the years ended december 31 , 2017 , 2016 and 2015 . note 3 2013 acquisitions and divestitures acquisition of sikorsky aircraft corporation on november 6 , 2015 , we completed the acquisition of sikorsky from united technologies corporation ( utc ) and certain of utc 2019s subsidiaries . the purchase price of the acquisition was $ 9.0 billion , net of cash acquired . as a result of the acquisition .

| | | 2017 | 2016 | 2015 | |---:|:--------------------------------------------------------------------|-------:|-------:|-------:| | 0 | weighted average common shares outstanding for basic computations | 287.8 | 299.3 | 310.3 | | 1 | weighted average dilutive effect of equity awards | 2.8 | 3.8 | 4.4 | | 2 | weighted average common shares outstanding for diluted computations | 290.6 | 303.1 | 314.7 |

of prior service cost or credits , and net actuarial gains or losses ) as part of non-operating income . we adopted the requirements of asu no . 2017-07 on january 1 , 2018 using the retrospective transition method . we expect the adoption of asu no . 2017-07 to result in an increase to consolidated operating profit of $ 471 million and $ 846 million for 2016 and 2017 , respectively , and a corresponding decrease in non-operating income for each year . we do not expect any impact to our business segment operating profit , our consolidated net earnings , or cash flows as a result of adopting asu no . 2017-07 . intangibles-goodwill and other in january 2017 , the fasb issued asu no . 2017-04 , intangibles-goodwill and other ( topic 350 ) , which eliminates the requirement to compare the implied fair value of reporting unit goodwill with the carrying amount of that goodwill ( commonly referred to as step 2 ) from the goodwill impairment test . the new standard does not change how a goodwill impairment is identified . wewill continue to perform our quantitative and qualitative goodwill impairment test by comparing the fair value of each reporting unit to its carrying amount , but if we are required to recognize a goodwill impairment charge , under the new standard the amount of the charge will be calculated by subtracting the reporting unit 2019s fair value from its carrying amount . under the prior standard , if we were required to recognize a goodwill impairment charge , step 2 required us to calculate the implied value of goodwill by assigning the fair value of a reporting unit to all of its assets and liabilities as if that reporting unit had been acquired in a business combination and the amount of the charge was calculated by subtracting the reporting unit 2019s implied fair value of goodwill from its actual goodwill balance . the new standard is effective for interim and annual reporting periods beginning after december 15 , 2019 , with early adoption permitted , and should be applied prospectively from the date of adoption . we elected to adopt the new standard for future goodwill impairment tests at the beginning of the third quarter of 2017 , because it significantly simplifies the evaluation of goodwill for impairment . the impact of the new standard will depend on the outcomes of future goodwill impairment tests . derivatives and hedging inaugust 2017 , the fasb issuedasu no . 2017-12derivatives and hedging ( topic 815 ) , which eliminates the requirement to separately measure and report hedge ineffectiveness . the guidance is effective for fiscal years beginning after december 15 , 2018 , with early adoption permitted . we do not expect a significant impact to our consolidated assets and liabilities , net earnings , or cash flows as a result of adopting this new standard . we plan to adopt the new standard january 1 , 2019 . leases in february 2016 , the fasb issuedasu no . 2016-02 , leases ( topic 842 ) , which requires the recognition of lease assets and lease liabilities on the balance sheet and disclosure of key information about leasing arrangements for both lessees and lessors . the new standard is effective january 1 , 2019 for public companies , with early adoption permitted . the new standard currently requires the application of a modified retrospective approach to the beginning of the earliest period presented in the financial statements . we are continuing to evaluate the expected impact to our consolidated financial statements and related disclosures . we plan to adopt the new standard effective january 1 , 2019 . note 2 2013 earnings per share theweighted average number of shares outstanding used to compute earnings per common sharewere as follows ( in millions ) : ._| | | 2017 | 2016 | 2015 | |---:|:--------------------------------------------------------------------|-------:|-------:|-------:| | 0 | weighted average common shares outstanding for basic computations | 287.8 | 299.3 | 310.3 | | 1 | weighted average dilutive effect of equity awards | 2.8 | 3.8 | 4.4 | | 2 | weighted average common shares outstanding for diluted computations | 290.6 | 303.1 | 314.7 |_we compute basic and diluted earnings per common share by dividing net earnings by the respectiveweighted average number of common shares outstanding for the periods presented . our calculation of diluted earnings per common share also includes the dilutive effects for the assumed vesting of outstanding restricted stock units ( rsus ) , performance stock units ( psus ) and exercise of outstanding stock options based on the treasury stock method . there were no significant anti-dilutive equity awards for the years ended december 31 , 2017 , 2016 and 2015 . note 3 2013 acquisitions and divestitures acquisition of sikorsky aircraft corporation on november 6 , 2015 , we completed the acquisition of sikorsky from united technologies corporation ( utc ) and certain of utc 2019s subsidiaries . the purchase price of the acquisition was $ 9.0 billion , net of cash acquired . as a result of the acquisition .

2,017

80

LMT

Lockheed Martin

Industrials

Aerospace & Defense

Bethesda, Maryland

1957-03-04

936,468

1995

null

finqa203

what was the percentage change in inventories between 2017 and 2018?

-8%

divide(subtract(4111.8, 4458.3), 4458.3)

note 6 : inventories we use the last-in , first-out ( lifo ) method for the majority of our inventories located in the continental u.s . other inventories are valued by the first-in , first-out ( fifo ) method . fifo cost approximates current replacement cost . inventories measured using lifo must be valued at the lower of cost or market . inventories measured using fifo must be valued at the lower of cost or net realizable value . inventories at december 31 consisted of the following: .

inventories valued under the lifo method comprised $ 1.57 billion and $ 1.56 billion of total inventories at december 31 , 2018 and 2017 , respectively . note 7 : financial instruments financial instruments that potentially subject us to credit risk consist principally of trade receivables and interest- bearing investments . wholesale distributors of life-science products account for a substantial portion of our trade receivables ; collateral is generally not required . we seek to mitigate the risk associated with this concentration through our ongoing credit-review procedures and insurance . a large portion of our cash is held by a few major financial institutions . we monitor our exposures with these institutions and do not expect any of these institutions to fail to meet their obligations . major financial institutions represent the largest component of our investments in corporate debt securities . in accordance with documented corporate risk-management policies , we monitor the amount of credit exposure to any one financial institution or corporate issuer . we are exposed to credit-related losses in the event of nonperformance by counterparties to risk-management instruments but do not expect any counterparties to fail to meet their obligations given their high credit ratings . we consider all highly liquid investments with a maturity of three months or less from the date of purchase to be cash equivalents . the cost of these investments approximates fair value . our equity investments are accounted for using three different methods depending on the type of equity investment : 2022 investments in companies over which we have significant influence but not a controlling interest are accounted for using the equity method , with our share of earnings or losses reported in other-net , ( income ) expense . 2022 for equity investments that do not have readily determinable fair values , we measure these investments at cost , less any impairment , plus or minus changes resulting from observable price changes in orderly transactions for the identical or similar investment of the same issuer . any change in recorded value is recorded in other-net , ( income ) expense . 2022 our public equity investments are measured and carried at fair value . any change in fair value is recognized in other-net , ( income ) expense . we review equity investments other than public equity investments for indications of impairment on a regular basis . our derivative activities are initiated within the guidelines of documented corporate risk-management policies and are intended to offset losses and gains on the assets , liabilities , and transactions being hedged . management reviews the correlation and effectiveness of our derivatives on a quarterly basis. .

| | | 2018 | 2017 | |---:|:----------------------------------------|:---------------|:---------| | 0 | finished products | $ 988.1 | $ 1211.4 | | 1 | work in process | 2628.2 | 2697.7 | | 2 | raw materials and supplies | 506.5 | 488.8 | | 3 | total ( approximates replacement cost ) | 4122.8 | 4397.9 | | 4 | increase ( reduction ) to lifo cost | -11.0 ( 11.0 ) | 60.4 | | 5 | inventories | $ 4111.8 | $ 4458.3 |

note 6 : inventories we use the last-in , first-out ( lifo ) method for the majority of our inventories located in the continental u.s . other inventories are valued by the first-in , first-out ( fifo ) method . fifo cost approximates current replacement cost . inventories measured using lifo must be valued at the lower of cost or market . inventories measured using fifo must be valued at the lower of cost or net realizable value . inventories at december 31 consisted of the following: ._| | | 2018 | 2017 | |---:|:----------------------------------------|:---------------|:---------| | 0 | finished products | $ 988.1 | $ 1211.4 | | 1 | work in process | 2628.2 | 2697.7 | | 2 | raw materials and supplies | 506.5 | 488.8 | | 3 | total ( approximates replacement cost ) | 4122.8 | 4397.9 | | 4 | increase ( reduction ) to lifo cost | -11.0 ( 11.0 ) | 60.4 | | 5 | inventories | $ 4111.8 | $ 4458.3 |_inventories valued under the lifo method comprised $ 1.57 billion and $ 1.56 billion of total inventories at december 31 , 2018 and 2017 , respectively . note 7 : financial instruments financial instruments that potentially subject us to credit risk consist principally of trade receivables and interest- bearing investments . wholesale distributors of life-science products account for a substantial portion of our trade receivables ; collateral is generally not required . we seek to mitigate the risk associated with this concentration through our ongoing credit-review procedures and insurance . a large portion of our cash is held by a few major financial institutions . we monitor our exposures with these institutions and do not expect any of these institutions to fail to meet their obligations . major financial institutions represent the largest component of our investments in corporate debt securities . in accordance with documented corporate risk-management policies , we monitor the amount of credit exposure to any one financial institution or corporate issuer . we are exposed to credit-related losses in the event of nonperformance by counterparties to risk-management instruments but do not expect any counterparties to fail to meet their obligations given their high credit ratings . we consider all highly liquid investments with a maturity of three months or less from the date of purchase to be cash equivalents . the cost of these investments approximates fair value . our equity investments are accounted for using three different methods depending on the type of equity investment : 2022 investments in companies over which we have significant influence but not a controlling interest are accounted for using the equity method , with our share of earnings or losses reported in other-net , ( income ) expense . 2022 for equity investments that do not have readily determinable fair values , we measure these investments at cost , less any impairment , plus or minus changes resulting from observable price changes in orderly transactions for the identical or similar investment of the same issuer . any change in recorded value is recorded in other-net , ( income ) expense . 2022 our public equity investments are measured and carried at fair value . any change in fair value is recognized in other-net , ( income ) expense . we review equity investments other than public equity investments for indications of impairment on a regular basis . our derivative activities are initiated within the guidelines of documented corporate risk-management policies and are intended to offset losses and gains on the assets , liabilities , and transactions being hedged . management reviews the correlation and effectiveness of our derivatives on a quarterly basis. .

2,018

63

LLY

Lilly (Eli)

Health Care

Pharmaceuticals

Indianapolis, Indiana

1970-12-31

59,478

1876

what was the percentage change in inventories between 2017 and 2018?

-8%

divide(subtract(4111.8, 4458.3), 4458.3)

note 6 : inventories we use the last-in , first-out ( lifo ) method for the majority of our inventories located in the continental u.s . other inventories are valued by the first-in , first-out ( fifo ) method . fifo cost approximates current replacement cost . inventories measured using lifo must be valued at the lower of cost or market . inventories measured using fifo must be valued at the lower of cost or net realizable value . inventories at december 31 consisted of the following: .

inventories valued under the lifo method comprised $ 1.57 billion and $ 1.56 billion of total inventories at december 31 , 2018 and 2017 , respectively . note 7 : financial instruments financial instruments that potentially subject us to credit risk consist principally of trade receivables and interest- bearing investments . wholesale distributors of life-science products account for a substantial portion of our trade receivables ; collateral is generally not required . we seek to mitigate the risk associated with this concentration through our ongoing credit-review procedures and insurance . a large portion of our cash is held by a few major financial institutions . we monitor our exposures with these institutions and do not expect any of these institutions to fail to meet their obligations . major financial institutions represent the largest component of our investments in corporate debt securities . in accordance with documented corporate risk-management policies , we monitor the amount of credit exposure to any one financial institution or corporate issuer . we are exposed to credit-related losses in the event of nonperformance by counterparties to risk-management instruments but do not expect any counterparties to fail to meet their obligations given their high credit ratings . we consider all highly liquid investments with a maturity of three months or less from the date of purchase to be cash equivalents . the cost of these investments approximates fair value . our equity investments are accounted for using three different methods depending on the type of equity investment : 2022 investments in companies over which we have significant influence but not a controlling interest are accounted for using the equity method , with our share of earnings or losses reported in other-net , ( income ) expense . 2022 for equity investments that do not have readily determinable fair values , we measure these investments at cost , less any impairment , plus or minus changes resulting from observable price changes in orderly transactions for the identical or similar investment of the same issuer . any change in recorded value is recorded in other-net , ( income ) expense . 2022 our public equity investments are measured and carried at fair value . any change in fair value is recognized in other-net , ( income ) expense . we review equity investments other than public equity investments for indications of impairment on a regular basis . our derivative activities are initiated within the guidelines of documented corporate risk-management policies and are intended to offset losses and gains on the assets , liabilities , and transactions being hedged . management reviews the correlation and effectiveness of our derivatives on a quarterly basis. .

| | | 2018 | 2017 | |---:|:----------------------------------------|:---------------|:---------| | 0 | finished products | $ 988.1 | $ 1211.4 | | 1 | work in process | 2628.2 | 2697.7 | | 2 | raw materials and supplies | 506.5 | 488.8 | | 3 | total ( approximates replacement cost ) | 4122.8 | 4397.9 | | 4 | increase ( reduction ) to lifo cost | -11.0 ( 11.0 ) | 60.4 | | 5 | inventories | $ 4111.8 | $ 4458.3 |

note 6 : inventories we use the last-in , first-out ( lifo ) method for the majority of our inventories located in the continental u.s . other inventories are valued by the first-in , first-out ( fifo ) method . fifo cost approximates current replacement cost . inventories measured using lifo must be valued at the lower of cost or market . inventories measured using fifo must be valued at the lower of cost or net realizable value . inventories at december 31 consisted of the following: ._| | | 2018 | 2017 | |---:|:----------------------------------------|:---------------|:---------| | 0 | finished products | $ 988.1 | $ 1211.4 | | 1 | work in process | 2628.2 | 2697.7 | | 2 | raw materials and supplies | 506.5 | 488.8 | | 3 | total ( approximates replacement cost ) | 4122.8 | 4397.9 | | 4 | increase ( reduction ) to lifo cost | -11.0 ( 11.0 ) | 60.4 | | 5 | inventories | $ 4111.8 | $ 4458.3 |_inventories valued under the lifo method comprised $ 1.57 billion and $ 1.56 billion of total inventories at december 31 , 2018 and 2017 , respectively . note 7 : financial instruments financial instruments that potentially subject us to credit risk consist principally of trade receivables and interest- bearing investments . wholesale distributors of life-science products account for a substantial portion of our trade receivables ; collateral is generally not required . we seek to mitigate the risk associated with this concentration through our ongoing credit-review procedures and insurance . a large portion of our cash is held by a few major financial institutions . we monitor our exposures with these institutions and do not expect any of these institutions to fail to meet their obligations . major financial institutions represent the largest component of our investments in corporate debt securities . in accordance with documented corporate risk-management policies , we monitor the amount of credit exposure to any one financial institution or corporate issuer . we are exposed to credit-related losses in the event of nonperformance by counterparties to risk-management instruments but do not expect any counterparties to fail to meet their obligations given their high credit ratings . we consider all highly liquid investments with a maturity of three months or less from the date of purchase to be cash equivalents . the cost of these investments approximates fair value . our equity investments are accounted for using three different methods depending on the type of equity investment : 2022 investments in companies over which we have significant influence but not a controlling interest are accounted for using the equity method , with our share of earnings or losses reported in other-net , ( income ) expense . 2022 for equity investments that do not have readily determinable fair values , we measure these investments at cost , less any impairment , plus or minus changes resulting from observable price changes in orderly transactions for the identical or similar investment of the same issuer . any change in recorded value is recorded in other-net , ( income ) expense . 2022 our public equity investments are measured and carried at fair value . any change in fair value is recognized in other-net , ( income ) expense . we review equity investments other than public equity investments for indications of impairment on a regular basis . our derivative activities are initiated within the guidelines of documented corporate risk-management policies and are intended to offset losses and gains on the assets , liabilities , and transactions being hedged . management reviews the correlation and effectiveness of our derivatives on a quarterly basis. .

2,018

63

LLY

Lilly (Eli)

Health Care

Pharmaceuticals

Indianapolis, Indiana

1970-12-31

59,478

1876

null

finqa204

what is the estimated price of hologic common stock used in the acquisition of suros?

23.2

divide(106500, 4600)

hologic , inc . notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) 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 . ( 201csuros 201d ) , 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 4600 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 final 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 . the company has considered the provision of eitf issue no . 95-8 , accounting for contingent consideration paid to the shareholders of and acquired enterprise in a purchase business combination , and concluded that this contingent consideration represents additional purchase price . during the fourth quarter of fiscal 2007 the company paid approximately $ 19000 to former suros shareholders for the first annual earn-out period resulting in an increase to goodwill for the same amount . the company also accrued $ 24500 for the second and final earn-out related to suros 2019 incremental revenue growth during the fourth quarter of fiscal 2008 , with an increase to goodwill , of which $ 24400 had been paid as of september 27 , 2008 . in addition to the earn-out discussed above , the company decreased goodwill in the amount of $ 1300 during the year ended september 27 , 2008 and increased goodwill in the amount of $ 210 during the year ended september 29 , 2007 . the increase in 2007 was primarily related to recording a liability of approximately $ 550 in accordance with eitf 95-3 related to the termination of certain employees who have ceased all services for the company . approximately $ 400 of this liability was paid during the year ended september 29 , 2007 and the balance was paid during fiscal 2008 . this increase was partially offset by a decrease to goodwill as a result of a change in the valuation of certain assets and liabilities acquired based on information received during the year ended september 29 , 2007 . the decrease in goodwill during 2008 was related to the reduction of an income tax liability . there have been no other material changes to purchase price allocations. .

| | net tangible assets acquired as of july 27 2006 | $ 13100 | |---:|:--------------------------------------------------|:-----------------| | 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 | 181700 | | 6 | final purchase price | $ 248100 |

hologic , inc . notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) 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 . ( 201csuros 201d ) , 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 4600 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 final purchase price , consists of the following approximate amounts: ._| | net tangible assets acquired as of july 27 2006 | $ 13100 | |---:|:--------------------------------------------------|:-----------------| | 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 | 181700 | | 6 | final purchase price | $ 248100 |_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 . the company has considered the provision of eitf issue no . 95-8 , accounting for contingent consideration paid to the shareholders of and acquired enterprise in a purchase business combination , and concluded that this contingent consideration represents additional purchase price . during the fourth quarter of fiscal 2007 the company paid approximately $ 19000 to former suros shareholders for the first annual earn-out period resulting in an increase to goodwill for the same amount . the company also accrued $ 24500 for the second and final earn-out related to suros 2019 incremental revenue growth during the fourth quarter of fiscal 2008 , with an increase to goodwill , of which $ 24400 had been paid as of september 27 , 2008 . in addition to the earn-out discussed above , the company decreased goodwill in the amount of $ 1300 during the year ended september 27 , 2008 and increased goodwill in the amount of $ 210 during the year ended september 29 , 2007 . the increase in 2007 was primarily related to recording a liability of approximately $ 550 in accordance with eitf 95-3 related to the termination of certain employees who have ceased all services for the company . approximately $ 400 of this liability was paid during the year ended september 29 , 2007 and the balance was paid during fiscal 2008 . this increase was partially offset by a decrease to goodwill as a result of a change in the valuation of certain assets and liabilities acquired based on information received during the year ended september 29 , 2007 . the decrease in goodwill during 2008 was related to the reduction of an income tax liability . there have been no other material changes to purchase price allocations. .

2,008

144

HOLX

Hologic

Health Care

Health Care Equipment

Marlborough, Massachusetts

2016-03-30

859,737

1985

what is the estimated price of hologic common stock used in the acquisition of suros?

23.2

divide(106500, 4600)

hologic , inc . notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) 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 . ( 201csuros 201d ) , 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 4600 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 final 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 . the company has considered the provision of eitf issue no . 95-8 , accounting for contingent consideration paid to the shareholders of and acquired enterprise in a purchase business combination , and concluded that this contingent consideration represents additional purchase price . during the fourth quarter of fiscal 2007 the company paid approximately $ 19000 to former suros shareholders for the first annual earn-out period resulting in an increase to goodwill for the same amount . the company also accrued $ 24500 for the second and final earn-out related to suros 2019 incremental revenue growth during the fourth quarter of fiscal 2008 , with an increase to goodwill , of which $ 24400 had been paid as of september 27 , 2008 . in addition to the earn-out discussed above , the company decreased goodwill in the amount of $ 1300 during the year ended september 27 , 2008 and increased goodwill in the amount of $ 210 during the year ended september 29 , 2007 . the increase in 2007 was primarily related to recording a liability of approximately $ 550 in accordance with eitf 95-3 related to the termination of certain employees who have ceased all services for the company . approximately $ 400 of this liability was paid during the year ended september 29 , 2007 and the balance was paid during fiscal 2008 . this increase was partially offset by a decrease to goodwill as a result of a change in the valuation of certain assets and liabilities acquired based on information received during the year ended september 29 , 2007 . the decrease in goodwill during 2008 was related to the reduction of an income tax liability . there have been no other material changes to purchase price allocations. .

| | net tangible assets acquired as of july 27 2006 | $ 13100 | |---:|:--------------------------------------------------|:-----------------| | 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 | 181700 | | 6 | final purchase price | $ 248100 |

hologic , inc . notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) 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 . ( 201csuros 201d ) , 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 4600 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 final purchase price , consists of the following approximate amounts: ._| | net tangible assets acquired as of july 27 2006 | $ 13100 | |---:|:--------------------------------------------------|:-----------------| | 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 | 181700 | | 6 | final purchase price | $ 248100 |_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 . the company has considered the provision of eitf issue no . 95-8 , accounting for contingent consideration paid to the shareholders of and acquired enterprise in a purchase business combination , and concluded that this contingent consideration represents additional purchase price . during the fourth quarter of fiscal 2007 the company paid approximately $ 19000 to former suros shareholders for the first annual earn-out period resulting in an increase to goodwill for the same amount . the company also accrued $ 24500 for the second and final earn-out related to suros 2019 incremental revenue growth during the fourth quarter of fiscal 2008 , with an increase to goodwill , of which $ 24400 had been paid as of september 27 , 2008 . in addition to the earn-out discussed above , the company decreased goodwill in the amount of $ 1300 during the year ended september 27 , 2008 and increased goodwill in the amount of $ 210 during the year ended september 29 , 2007 . the increase in 2007 was primarily related to recording a liability of approximately $ 550 in accordance with eitf 95-3 related to the termination of certain employees who have ceased all services for the company . approximately $ 400 of this liability was paid during the year ended september 29 , 2007 and the balance was paid during fiscal 2008 . this increase was partially offset by a decrease to goodwill as a result of a change in the valuation of certain assets and liabilities acquired based on information received during the year ended september 29 , 2007 . the decrease in goodwill during 2008 was related to the reduction of an income tax liability . there have been no other material changes to purchase price allocations. .

2,008

144

HOLX

Hologic

Health Care

Health Care Equipment

Marlborough, Massachusetts

2016-03-30

859,737

1985

null

finqa205

what was the percent of the increase in compensation cost recognized for rsus from 2008 to 2009

48.9%

divide(subtract(7.3, 4.9), 4.9)

70| | duke realty corporation annual report 2009 the following table summarizes transactions for our rsus , excluding dividend equivalents , for 2009 : weighted average number of grant date restricted stock units rsus fair value .

compensation cost recognized for rsus totaled $ 7.3 million , $ 4.9 million and $ 3.0 million for the years ended december 31 , 2009 , 2008 and 2007 , respectively . as of december 31 , 2009 , there was $ 6.7 million of total unrecognized compensation expense related to nonvested rsus granted under the plan , which is expected to be recognized over a weighted average period of 3.3 years . ( 14 ) financial instruments we are exposed to capital market risk , such as changes in interest rates . in an effort to manage interest rate risk , we may enter into interest rate hedging arrangements from time to time . we do not utilize derivative financial instruments for trading or speculative purposes . in november 2007 , we entered into forward starting interest swaps with notional amounts appropriate to hedge interest rates on $ 300.0 million of anticipated debt offerings in 2009 . the forward starting swaps were appropriately designated and tested for effectiveness as cash flow hedges . in march 2008 , we settled the forward starting swaps and made a cash payment of $ 14.6 million to the counterparties . an effectiveness test was performed as of the settlement date and it was concluded that a highly effective cash flow hedge was still in place for the expected debt offering . of the amount paid in settlement , approximately $ 700000 was immediately reclassified to interest expense , as the result of partial ineffectiveness calculated at the settlement date . the net amount of $ 13.9 million was recorded in other comprehensive income ( 201coci 201d ) and is being recognized through interest expense over the life of the hedged debt offering , which took place in may 2008 . the remaining unamortized amount included as a reduction to accumulated oci as of december 31 , 2009 is $ 9.3 million . in august 2005 , we entered into $ 300.0 million of cash flow hedges through forward starting interest rate swaps to hedge interest rates on $ 300.0 million of anticipated debt offerings in 2007 . the swaps qualified for hedge accounting , with any changes in fair value recorded in oci . in conjunction with the september 2007 issuance of $ 300.0 million of senior unsecured notes , we terminated these cash flow hedges as designated . the settlement amount received of $ 10.7 million is being recognized to earnings through a reduction of interest expense over the term of the hedged cash flows . the remaining unamortized amount included as an increase to accumulated oci as of december 31 , 2009 is $ 8.2 million . the ineffective portion of the hedge was insignificant . the effectiveness of our hedges is evaluated throughout their lives using the hypothetical derivative method under which the change in fair value of the actual swap designated as the hedging instrument is compared to the change in fair value of a hypothetical swap . we had no material interest rate derivatives , when considering both fair value and notional amount , at december 31 , 2009. .

| | restricted stock units | number of rsus | weighted average grant date fair value | |---:|:-------------------------|:-------------------|:-----------------------------------------| | 0 | rsus at december 31 2008 | 401375 | $ 29.03 | | 1 | granted | 1583616 | $ 9.32 | | 2 | vested | -129352 ( 129352 ) | $ 28.39 | | 3 | forfeited | -172033 ( 172033 ) | $ 12.53 | | 4 | rsus at december 31 2009 | 1683606 | $ 12.23 |

70| | duke realty corporation annual report 2009 the following table summarizes transactions for our rsus , excluding dividend equivalents , for 2009 : weighted average number of grant date restricted stock units rsus fair value ._| | restricted stock units | number of rsus | weighted average grant date fair value | |---:|:-------------------------|:-------------------|:-----------------------------------------| | 0 | rsus at december 31 2008 | 401375 | $ 29.03 | | 1 | granted | 1583616 | $ 9.32 | | 2 | vested | -129352 ( 129352 ) | $ 28.39 | | 3 | forfeited | -172033 ( 172033 ) | $ 12.53 | | 4 | rsus at december 31 2009 | 1683606 | $ 12.23 |_compensation cost recognized for rsus totaled $ 7.3 million , $ 4.9 million and $ 3.0 million for the years ended december 31 , 2009 , 2008 and 2007 , respectively . as of december 31 , 2009 , there was $ 6.7 million of total unrecognized compensation expense related to nonvested rsus granted under the plan , which is expected to be recognized over a weighted average period of 3.3 years . ( 14 ) financial instruments we are exposed to capital market risk , such as changes in interest rates . in an effort to manage interest rate risk , we may enter into interest rate hedging arrangements from time to time . we do not utilize derivative financial instruments for trading or speculative purposes . in november 2007 , we entered into forward starting interest swaps with notional amounts appropriate to hedge interest rates on $ 300.0 million of anticipated debt offerings in 2009 . the forward starting swaps were appropriately designated and tested for effectiveness as cash flow hedges . in march 2008 , we settled the forward starting swaps and made a cash payment of $ 14.6 million to the counterparties . an effectiveness test was performed as of the settlement date and it was concluded that a highly effective cash flow hedge was still in place for the expected debt offering . of the amount paid in settlement , approximately $ 700000 was immediately reclassified to interest expense , as the result of partial ineffectiveness calculated at the settlement date . the net amount of $ 13.9 million was recorded in other comprehensive income ( 201coci 201d ) and is being recognized through interest expense over the life of the hedged debt offering , which took place in may 2008 . the remaining unamortized amount included as a reduction to accumulated oci as of december 31 , 2009 is $ 9.3 million . in august 2005 , we entered into $ 300.0 million of cash flow hedges through forward starting interest rate swaps to hedge interest rates on $ 300.0 million of anticipated debt offerings in 2007 . the swaps qualified for hedge accounting , with any changes in fair value recorded in oci . in conjunction with the september 2007 issuance of $ 300.0 million of senior unsecured notes , we terminated these cash flow hedges as designated . the settlement amount received of $ 10.7 million is being recognized to earnings through a reduction of interest expense over the term of the hedged cash flows . the remaining unamortized amount included as an increase to accumulated oci as of december 31 , 2009 is $ 8.2 million . the ineffective portion of the hedge was insignificant . the effectiveness of our hedges is evaluated throughout their lives using the hypothetical derivative method under which the change in fair value of the actual swap designated as the hedging instrument is compared to the change in fair value of a hypothetical swap . we had no material interest rate derivatives , when considering both fair value and notional amount , at december 31 , 2009. .

2,009

72

DRE

Duke Realty Corporation

Real Estate

Industrial REITs

Indianapolis, IN

2004-01-01

783,280

1972

what was the percent of the increase in compensation cost recognized for rsus from 2008 to 2009

48.9%

divide(subtract(7.3, 4.9), 4.9)

70| | duke realty corporation annual report 2009 the following table summarizes transactions for our rsus , excluding dividend equivalents , for 2009 : weighted average number of grant date restricted stock units rsus fair value .

compensation cost recognized for rsus totaled $ 7.3 million , $ 4.9 million and $ 3.0 million for the years ended december 31 , 2009 , 2008 and 2007 , respectively . as of december 31 , 2009 , there was $ 6.7 million of total unrecognized compensation expense related to nonvested rsus granted under the plan , which is expected to be recognized over a weighted average period of 3.3 years . ( 14 ) financial instruments we are exposed to capital market risk , such as changes in interest rates . in an effort to manage interest rate risk , we may enter into interest rate hedging arrangements from time to time . we do not utilize derivative financial instruments for trading or speculative purposes . in november 2007 , we entered into forward starting interest swaps with notional amounts appropriate to hedge interest rates on $ 300.0 million of anticipated debt offerings in 2009 . the forward starting swaps were appropriately designated and tested for effectiveness as cash flow hedges . in march 2008 , we settled the forward starting swaps and made a cash payment of $ 14.6 million to the counterparties . an effectiveness test was performed as of the settlement date and it was concluded that a highly effective cash flow hedge was still in place for the expected debt offering . of the amount paid in settlement , approximately $ 700000 was immediately reclassified to interest expense , as the result of partial ineffectiveness calculated at the settlement date . the net amount of $ 13.9 million was recorded in other comprehensive income ( 201coci 201d ) and is being recognized through interest expense over the life of the hedged debt offering , which took place in may 2008 . the remaining unamortized amount included as a reduction to accumulated oci as of december 31 , 2009 is $ 9.3 million . in august 2005 , we entered into $ 300.0 million of cash flow hedges through forward starting interest rate swaps to hedge interest rates on $ 300.0 million of anticipated debt offerings in 2007 . the swaps qualified for hedge accounting , with any changes in fair value recorded in oci . in conjunction with the september 2007 issuance of $ 300.0 million of senior unsecured notes , we terminated these cash flow hedges as designated . the settlement amount received of $ 10.7 million is being recognized to earnings through a reduction of interest expense over the term of the hedged cash flows . the remaining unamortized amount included as an increase to accumulated oci as of december 31 , 2009 is $ 8.2 million . the ineffective portion of the hedge was insignificant . the effectiveness of our hedges is evaluated throughout their lives using the hypothetical derivative method under which the change in fair value of the actual swap designated as the hedging instrument is compared to the change in fair value of a hypothetical swap . we had no material interest rate derivatives , when considering both fair value and notional amount , at december 31 , 2009. .

| | restricted stock units | number of rsus | weighted average grant date fair value | |---:|:-------------------------|:-------------------|:-----------------------------------------| | 0 | rsus at december 31 2008 | 401375 | $ 29.03 | | 1 | granted | 1583616 | $ 9.32 | | 2 | vested | -129352 ( 129352 ) | $ 28.39 | | 3 | forfeited | -172033 ( 172033 ) | $ 12.53 | | 4 | rsus at december 31 2009 | 1683606 | $ 12.23 |

70| | duke realty corporation annual report 2009 the following table summarizes transactions for our rsus , excluding dividend equivalents , for 2009 : weighted average number of grant date restricted stock units rsus fair value ._| | restricted stock units | number of rsus | weighted average grant date fair value | |---:|:-------------------------|:-------------------|:-----------------------------------------| | 0 | rsus at december 31 2008 | 401375 | $ 29.03 | | 1 | granted | 1583616 | $ 9.32 | | 2 | vested | -129352 ( 129352 ) | $ 28.39 | | 3 | forfeited | -172033 ( 172033 ) | $ 12.53 | | 4 | rsus at december 31 2009 | 1683606 | $ 12.23 |_compensation cost recognized for rsus totaled $ 7.3 million , $ 4.9 million and $ 3.0 million for the years ended december 31 , 2009 , 2008 and 2007 , respectively . as of december 31 , 2009 , there was $ 6.7 million of total unrecognized compensation expense related to nonvested rsus granted under the plan , which is expected to be recognized over a weighted average period of 3.3 years . ( 14 ) financial instruments we are exposed to capital market risk , such as changes in interest rates . in an effort to manage interest rate risk , we may enter into interest rate hedging arrangements from time to time . we do not utilize derivative financial instruments for trading or speculative purposes . in november 2007 , we entered into forward starting interest swaps with notional amounts appropriate to hedge interest rates on $ 300.0 million of anticipated debt offerings in 2009 . the forward starting swaps were appropriately designated and tested for effectiveness as cash flow hedges . in march 2008 , we settled the forward starting swaps and made a cash payment of $ 14.6 million to the counterparties . an effectiveness test was performed as of the settlement date and it was concluded that a highly effective cash flow hedge was still in place for the expected debt offering . of the amount paid in settlement , approximately $ 700000 was immediately reclassified to interest expense , as the result of partial ineffectiveness calculated at the settlement date . the net amount of $ 13.9 million was recorded in other comprehensive income ( 201coci 201d ) and is being recognized through interest expense over the life of the hedged debt offering , which took place in may 2008 . the remaining unamortized amount included as a reduction to accumulated oci as of december 31 , 2009 is $ 9.3 million . in august 2005 , we entered into $ 300.0 million of cash flow hedges through forward starting interest rate swaps to hedge interest rates on $ 300.0 million of anticipated debt offerings in 2007 . the swaps qualified for hedge accounting , with any changes in fair value recorded in oci . in conjunction with the september 2007 issuance of $ 300.0 million of senior unsecured notes , we terminated these cash flow hedges as designated . the settlement amount received of $ 10.7 million is being recognized to earnings through a reduction of interest expense over the term of the hedged cash flows . the remaining unamortized amount included as an increase to accumulated oci as of december 31 , 2009 is $ 8.2 million . the ineffective portion of the hedge was insignificant . the effectiveness of our hedges is evaluated throughout their lives using the hypothetical derivative method under which the change in fair value of the actual swap designated as the hedging instrument is compared to the change in fair value of a hypothetical swap . we had no material interest rate derivatives , when considering both fair value and notional amount , at december 31 , 2009. .

2,009

72

DRE

Duke Realty Corporation

Real Estate

Industrial REITs

Indianapolis, IN

2004-01-01

783,280

1972

null

finqa206

as of december 2007 what was the ratio of the future debt maturities for 2011 to the amounts after 2012

0.15

divide(453815, 2996337)

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

as of december 2007 what was the ratio of the future debt maturities for 2011 to the amounts after 2012

0.15

divide(453815, 2996337)

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

finqa207

north american consumer packaging net sales where what percentage of consumer packaging sales in 2008?

78%

divide(multiply(2.5, const_1000), 3195)

for uncoated freesheet paper and market pulp announced at the end of 2009 become effective . input costs are expected to be higher due to wood supply constraints at the kwidzyn mill and annual tariff increases on energy in russia . planned main- tenance outage costs are expected to be about flat , while operating costs should be favorable . asian printing papers net sales were approx- imately $ 50 million in 2009 compared with approx- imately $ 20 million in both 2008 and 2007 . operating earnings increased slightly in 2009 compared with 2008 , but were less than $ 1 million in all periods . u.s . market pulp net sales in 2009 totaled $ 575 million compared with $ 750 million in 2008 and $ 655 million in 2007 . operating earnings in 2009 were $ 140 million ( a loss of $ 71 million excluding alter- native fuel mixture credits and plant closure costs ) compared with a loss of $ 156 million ( a loss of $ 33 million excluding costs associated with the perma- nent shutdown of the bastrop mill ) in 2008 and earn- ings of $ 78 million in 2007 . sales volumes in 2009 decreased from 2008 levels due to weaker global demand . average sales price realizations were significantly lower as the decline in demand resulted in significant price declines for market pulp and smaller declines in fluff pulp . input costs for wood , energy and chemicals decreased , and freight costs were significantly lower . mill operating costs were favorable across all mills , and planned maintenance downtime costs were lower . lack-of-order downtime in 2009 increased to approx- imately 540000 tons , including 480000 tons related to the permanent shutdown of our bastrop mill in the fourth quarter of 2008 , compared with 135000 tons in 2008 . in the first quarter of 2010 , sales volumes are expected to increase slightly , reflecting improving customer demand for fluff pulp , offset by slightly seasonally weaker demand for softwood and hard- wood pulp in china . average sales price realizations are expected to improve , reflecting the realization of previously announced sales price increases for fluff pulp , hardwood pulp and softwood pulp . input costs are expected to increase for wood , energy and chemicals , and freight costs may also increase . planned maintenance downtime costs will be higher , but operating costs should be about flat . 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 , freight costs , manufacturing efficiency and product mix . consumer packaging net sales in 2009 decreased 4% ( 4 % ) compared with 2008 and increased 1% ( 1 % ) compared with 2007 . operating profits increased significantly compared with both 2008 and 2007 . excluding alternative fuel mixture credits and facility closure costs , 2009 operating profits were sig- nificantly higher than 2008 and 57% ( 57 % ) higher than 2007 . benefits from higher average sales price realizations ( $ 114 million ) , lower raw material and energy costs ( $ 114 million ) , lower freight costs ( $ 21 million ) , lower costs associated with the reorganiza- tion of the shorewood business ( $ 23 million ) , favor- able foreign exchange effects ( $ 14 million ) and other items ( $ 12 million ) were partially offset by lower sales volumes and increased lack-of-order downtime ( $ 145 million ) and costs associated with the perma- nent shutdown of the franklin mill ( $ 67 million ) . additionally , operating profits in 2009 included $ 330 million of alternative fuel mixture credits . consumer packaging in millions 2009 2008 2007 .

north american consumer packaging net sales were $ 2.2 billion compared with $ 2.5 billion in 2008 and $ 2.4 billion in 2007 . operating earnings in 2009 were $ 343 million ( $ 87 million excluding alter- native fuel mixture credits and facility closure costs ) compared with $ 8 million ( $ 38 million excluding facility closure costs ) in 2008 and $ 70 million in 2007 . coated paperboard sales volumes were lower in 2009 compared with 2008 reflecting weaker market conditions . average sales price realizations were significantly higher , reflecting the full-year realization of price increases implemented in the second half of 2008 . raw material costs for wood , energy and chemicals were significantly lower in 2009 , while freight costs were also favorable . operating costs , however , were unfavorable and planned main- tenance downtime costs were higher . lack-of-order downtime increased to 300000 tons in 2009 from 15000 tons in 2008 due to weak demand . operating results in 2009 include income of $ 330 million for alternative fuel mixture credits and $ 67 million of expenses for shutdown costs for the franklin mill . foodservice sales volumes were lower in 2009 than in 2008 due to generally weak world-wide economic conditions . average sales price realizations were .

| | in millions | 2009 | 2008 | 2007 | |---:|:-----------------|:-------|:-------|:-------| | 0 | sales | $ 3060 | $ 3195 | $ 3015 | | 1 | operating profit | 433 | 17 | 112 |

for uncoated freesheet paper and market pulp announced at the end of 2009 become effective . input costs are expected to be higher due to wood supply constraints at the kwidzyn mill and annual tariff increases on energy in russia . planned main- tenance outage costs are expected to be about flat , while operating costs should be favorable . asian printing papers net sales were approx- imately $ 50 million in 2009 compared with approx- imately $ 20 million in both 2008 and 2007 . operating earnings increased slightly in 2009 compared with 2008 , but were less than $ 1 million in all periods . u.s . market pulp net sales in 2009 totaled $ 575 million compared with $ 750 million in 2008 and $ 655 million in 2007 . operating earnings in 2009 were $ 140 million ( a loss of $ 71 million excluding alter- native fuel mixture credits and plant closure costs ) compared with a loss of $ 156 million ( a loss of $ 33 million excluding costs associated with the perma- nent shutdown of the bastrop mill ) in 2008 and earn- ings of $ 78 million in 2007 . sales volumes in 2009 decreased from 2008 levels due to weaker global demand . average sales price realizations were significantly lower as the decline in demand resulted in significant price declines for market pulp and smaller declines in fluff pulp . input costs for wood , energy and chemicals decreased , and freight costs were significantly lower . mill operating costs were favorable across all mills , and planned maintenance downtime costs were lower . lack-of-order downtime in 2009 increased to approx- imately 540000 tons , including 480000 tons related to the permanent shutdown of our bastrop mill in the fourth quarter of 2008 , compared with 135000 tons in 2008 . in the first quarter of 2010 , sales volumes are expected to increase slightly , reflecting improving customer demand for fluff pulp , offset by slightly seasonally weaker demand for softwood and hard- wood pulp in china . average sales price realizations are expected to improve , reflecting the realization of previously announced sales price increases for fluff pulp , hardwood pulp and softwood pulp . input costs are expected to increase for wood , energy and chemicals , and freight costs may also increase . planned maintenance downtime costs will be higher , but operating costs should be about flat . 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 , freight costs , manufacturing efficiency and product mix . consumer packaging net sales in 2009 decreased 4% ( 4 % ) compared with 2008 and increased 1% ( 1 % ) compared with 2007 . operating profits increased significantly compared with both 2008 and 2007 . excluding alternative fuel mixture credits and facility closure costs , 2009 operating profits were sig- nificantly higher than 2008 and 57% ( 57 % ) higher than 2007 . benefits from higher average sales price realizations ( $ 114 million ) , lower raw material and energy costs ( $ 114 million ) , lower freight costs ( $ 21 million ) , lower costs associated with the reorganiza- tion of the shorewood business ( $ 23 million ) , favor- able foreign exchange effects ( $ 14 million ) and other items ( $ 12 million ) were partially offset by lower sales volumes and increased lack-of-order downtime ( $ 145 million ) and costs associated with the perma- nent shutdown of the franklin mill ( $ 67 million ) . additionally , operating profits in 2009 included $ 330 million of alternative fuel mixture credits . consumer packaging in millions 2009 2008 2007 ._| | in millions | 2009 | 2008 | 2007 | |---:|:-----------------|:-------|:-------|:-------| | 0 | sales | $ 3060 | $ 3195 | $ 3015 | | 1 | operating profit | 433 | 17 | 112 |_north american consumer packaging net sales were $ 2.2 billion compared with $ 2.5 billion in 2008 and $ 2.4 billion in 2007 . operating earnings in 2009 were $ 343 million ( $ 87 million excluding alter- native fuel mixture credits and facility closure costs ) compared with $ 8 million ( $ 38 million excluding facility closure costs ) in 2008 and $ 70 million in 2007 . coated paperboard sales volumes were lower in 2009 compared with 2008 reflecting weaker market conditions . average sales price realizations were significantly higher , reflecting the full-year realization of price increases implemented in the second half of 2008 . raw material costs for wood , energy and chemicals were significantly lower in 2009 , while freight costs were also favorable . operating costs , however , were unfavorable and planned main- tenance downtime costs were higher . lack-of-order downtime increased to 300000 tons in 2009 from 15000 tons in 2008 due to weak demand . operating results in 2009 include income of $ 330 million for alternative fuel mixture credits and $ 67 million of expenses for shutdown costs for the franklin mill . foodservice sales volumes were lower in 2009 than in 2008 due to generally weak world-wide economic conditions . average sales price realizations were .

2,009

37

IP

International Paper

Materials

Paper & Plastic Packaging Products & Materials

Memphis, Tennessee

1957-03-04

51,434

1898

north american consumer packaging net sales where what percentage of consumer packaging sales in 2008?

78%

divide(multiply(2.5, const_1000), 3195)

for uncoated freesheet paper and market pulp announced at the end of 2009 become effective . input costs are expected to be higher due to wood supply constraints at the kwidzyn mill and annual tariff increases on energy in russia . planned main- tenance outage costs are expected to be about flat , while operating costs should be favorable . asian printing papers net sales were approx- imately $ 50 million in 2009 compared with approx- imately $ 20 million in both 2008 and 2007 . operating earnings increased slightly in 2009 compared with 2008 , but were less than $ 1 million in all periods . u.s . market pulp net sales in 2009 totaled $ 575 million compared with $ 750 million in 2008 and $ 655 million in 2007 . operating earnings in 2009 were $ 140 million ( a loss of $ 71 million excluding alter- native fuel mixture credits and plant closure costs ) compared with a loss of $ 156 million ( a loss of $ 33 million excluding costs associated with the perma- nent shutdown of the bastrop mill ) in 2008 and earn- ings of $ 78 million in 2007 . sales volumes in 2009 decreased from 2008 levels due to weaker global demand . average sales price realizations were significantly lower as the decline in demand resulted in significant price declines for market pulp and smaller declines in fluff pulp . input costs for wood , energy and chemicals decreased , and freight costs were significantly lower . mill operating costs were favorable across all mills , and planned maintenance downtime costs were lower . lack-of-order downtime in 2009 increased to approx- imately 540000 tons , including 480000 tons related to the permanent shutdown of our bastrop mill in the fourth quarter of 2008 , compared with 135000 tons in 2008 . in the first quarter of 2010 , sales volumes are expected to increase slightly , reflecting improving customer demand for fluff pulp , offset by slightly seasonally weaker demand for softwood and hard- wood pulp in china . average sales price realizations are expected to improve , reflecting the realization of previously announced sales price increases for fluff pulp , hardwood pulp and softwood pulp . input costs are expected to increase for wood , energy and chemicals , and freight costs may also increase . planned maintenance downtime costs will be higher , but operating costs should be about flat . 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 , freight costs , manufacturing efficiency and product mix . consumer packaging net sales in 2009 decreased 4% ( 4 % ) compared with 2008 and increased 1% ( 1 % ) compared with 2007 . operating profits increased significantly compared with both 2008 and 2007 . excluding alternative fuel mixture credits and facility closure costs , 2009 operating profits were sig- nificantly higher than 2008 and 57% ( 57 % ) higher than 2007 . benefits from higher average sales price realizations ( $ 114 million ) , lower raw material and energy costs ( $ 114 million ) , lower freight costs ( $ 21 million ) , lower costs associated with the reorganiza- tion of the shorewood business ( $ 23 million ) , favor- able foreign exchange effects ( $ 14 million ) and other items ( $ 12 million ) were partially offset by lower sales volumes and increased lack-of-order downtime ( $ 145 million ) and costs associated with the perma- nent shutdown of the franklin mill ( $ 67 million ) . additionally , operating profits in 2009 included $ 330 million of alternative fuel mixture credits . consumer packaging in millions 2009 2008 2007 .

north american consumer packaging net sales were $ 2.2 billion compared with $ 2.5 billion in 2008 and $ 2.4 billion in 2007 . operating earnings in 2009 were $ 343 million ( $ 87 million excluding alter- native fuel mixture credits and facility closure costs ) compared with $ 8 million ( $ 38 million excluding facility closure costs ) in 2008 and $ 70 million in 2007 . coated paperboard sales volumes were lower in 2009 compared with 2008 reflecting weaker market conditions . average sales price realizations were significantly higher , reflecting the full-year realization of price increases implemented in the second half of 2008 . raw material costs for wood , energy and chemicals were significantly lower in 2009 , while freight costs were also favorable . operating costs , however , were unfavorable and planned main- tenance downtime costs were higher . lack-of-order downtime increased to 300000 tons in 2009 from 15000 tons in 2008 due to weak demand . operating results in 2009 include income of $ 330 million for alternative fuel mixture credits and $ 67 million of expenses for shutdown costs for the franklin mill . foodservice sales volumes were lower in 2009 than in 2008 due to generally weak world-wide economic conditions . average sales price realizations were .

| | in millions | 2009 | 2008 | 2007 | |---:|:-----------------|:-------|:-------|:-------| | 0 | sales | $ 3060 | $ 3195 | $ 3015 | | 1 | operating profit | 433 | 17 | 112 |

for uncoated freesheet paper and market pulp announced at the end of 2009 become effective . input costs are expected to be higher due to wood supply constraints at the kwidzyn mill and annual tariff increases on energy in russia . planned main- tenance outage costs are expected to be about flat , while operating costs should be favorable . asian printing papers net sales were approx- imately $ 50 million in 2009 compared with approx- imately $ 20 million in both 2008 and 2007 . operating earnings increased slightly in 2009 compared with 2008 , but were less than $ 1 million in all periods . u.s . market pulp net sales in 2009 totaled $ 575 million compared with $ 750 million in 2008 and $ 655 million in 2007 . operating earnings in 2009 were $ 140 million ( a loss of $ 71 million excluding alter- native fuel mixture credits and plant closure costs ) compared with a loss of $ 156 million ( a loss of $ 33 million excluding costs associated with the perma- nent shutdown of the bastrop mill ) in 2008 and earn- ings of $ 78 million in 2007 . sales volumes in 2009 decreased from 2008 levels due to weaker global demand . average sales price realizations were significantly lower as the decline in demand resulted in significant price declines for market pulp and smaller declines in fluff pulp . input costs for wood , energy and chemicals decreased , and freight costs were significantly lower . mill operating costs were favorable across all mills , and planned maintenance downtime costs were lower . lack-of-order downtime in 2009 increased to approx- imately 540000 tons , including 480000 tons related to the permanent shutdown of our bastrop mill in the fourth quarter of 2008 , compared with 135000 tons in 2008 . in the first quarter of 2010 , sales volumes are expected to increase slightly , reflecting improving customer demand for fluff pulp , offset by slightly seasonally weaker demand for softwood and hard- wood pulp in china . average sales price realizations are expected to improve , reflecting the realization of previously announced sales price increases for fluff pulp , hardwood pulp and softwood pulp . input costs are expected to increase for wood , energy and chemicals , and freight costs may also increase . planned maintenance downtime costs will be higher , but operating costs should be about flat . 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 , freight costs , manufacturing efficiency and product mix . consumer packaging net sales in 2009 decreased 4% ( 4 % ) compared with 2008 and increased 1% ( 1 % ) compared with 2007 . operating profits increased significantly compared with both 2008 and 2007 . excluding alternative fuel mixture credits and facility closure costs , 2009 operating profits were sig- nificantly higher than 2008 and 57% ( 57 % ) higher than 2007 . benefits from higher average sales price realizations ( $ 114 million ) , lower raw material and energy costs ( $ 114 million ) , lower freight costs ( $ 21 million ) , lower costs associated with the reorganiza- tion of the shorewood business ( $ 23 million ) , favor- able foreign exchange effects ( $ 14 million ) and other items ( $ 12 million ) were partially offset by lower sales volumes and increased lack-of-order downtime ( $ 145 million ) and costs associated with the perma- nent shutdown of the franklin mill ( $ 67 million ) . additionally , operating profits in 2009 included $ 330 million of alternative fuel mixture credits . consumer packaging in millions 2009 2008 2007 ._| | in millions | 2009 | 2008 | 2007 | |---:|:-----------------|:-------|:-------|:-------| | 0 | sales | $ 3060 | $ 3195 | $ 3015 | | 1 | operating profit | 433 | 17 | 112 |_north american consumer packaging net sales were $ 2.2 billion compared with $ 2.5 billion in 2008 and $ 2.4 billion in 2007 . operating earnings in 2009 were $ 343 million ( $ 87 million excluding alter- native fuel mixture credits and facility closure costs ) compared with $ 8 million ( $ 38 million excluding facility closure costs ) in 2008 and $ 70 million in 2007 . coated paperboard sales volumes were lower in 2009 compared with 2008 reflecting weaker market conditions . average sales price realizations were significantly higher , reflecting the full-year realization of price increases implemented in the second half of 2008 . raw material costs for wood , energy and chemicals were significantly lower in 2009 , while freight costs were also favorable . operating costs , however , were unfavorable and planned main- tenance downtime costs were higher . lack-of-order downtime increased to 300000 tons in 2009 from 15000 tons in 2008 due to weak demand . operating results in 2009 include income of $ 330 million for alternative fuel mixture credits and $ 67 million of expenses for shutdown costs for the franklin mill . foodservice sales volumes were lower in 2009 than in 2008 due to generally weak world-wide economic conditions . average sales price realizations were .

2,009

37

IP

International Paper

Materials

Paper & Plastic Packaging Products & Materials

Memphis, Tennessee

1957-03-04

51,434

1898

null

finqa208

what is the combined amount of accrued interest and penalties related to tax positions taken on our tax returns in millions for fiscal 2018 and 2017?

48.2

add(24.6, 23.6)

table of contents adobe inc . notes to consolidated financial statements ( continued ) certain states and foreign jurisdictions to fully utilize available tax credits and other attributes . the deferred tax assets are offset by a valuation allowance to the extent it is more likely than not that they are not expected to be realized . we provide u.s . income taxes on the earnings of foreign subsidiaries unless the subsidiaries 2019 earnings are considered permanently reinvested outside the united states or are exempted from taxation as a result of the new territorial tax system . to the extent that the foreign earnings previously treated as permanently reinvested are repatriated , the related u.s . tax liability may be reduced by any foreign income taxes paid on these earnings . as of november 30 , 2018 , the cumulative amount of earnings upon which u.s . income taxes have not been provided is approximately $ 275 million . the unrecognized deferred tax liability for these earnings is approximately $ 57.8 million . as of november 30 , 2018 , we have net operating loss carryforwards of approximately $ 881.1 million for federal and $ 349.7 million for state . we also have federal , state and foreign tax credit carryforwards of approximately $ 8.8 million , $ 189.9 million and $ 14.9 million , respectively . the net operating loss carryforward assets and tax credits will expire in various years from fiscal 2019 through 2036 . the state tax credit carryforwards and a portion of the federal net operating loss carryforwards can be carried forward indefinitely . the net operating loss carryforward assets and certain credits are reduced by the valuation allowance and are subject to an annual limitation under internal revenue code section 382 , the carrying amount of which are expected to be fully realized . as of november 30 , 2018 , a valuation allowance of $ 174.5 million has been established for certain deferred tax assets related to certain state and foreign assets . for fiscal 2018 , the total change in the valuation allowance was $ 80.9 million . accounting for uncertainty in income taxes during fiscal 2018 and 2017 , our aggregate changes in our total gross amount of unrecognized tax benefits are summarized as follows ( in thousands ) : .

the combined amount of accrued interest and penalties related to tax positions taken on our tax returns were approximately $ 24.6 million and $ 23.6 million for fiscal 2018 and 2017 , respectively . these amounts were included in long-term income taxes payable in their respective years . we file income tax returns in the united states on a federal basis and in many u.s . state and foreign jurisdictions . we are subject to the continual examination of our income tax returns by the irs and other domestic and foreign tax authorities . our major tax jurisdictions are ireland , california and the united states . for ireland , california and the united states , the earliest fiscal years open for examination are 2008 , 2014 and 2015 , respectively . we regularly assess the likelihood of outcomes resulting from these examinations to determine the adequacy of our provision for income taxes and have reserved for potential adjustments that may result from these examinations . we believe such estimates to be reasonable ; however , there can be no assurance that the final determination of any of these examinations will not have an adverse effect on our operating results and financial position . the timing of the resolution of income tax examinations is highly uncertain as are the amounts and timing of tax payments that are part of any audit settlement process . these events could cause large fluctuations in the balance of short-term and long- term assets , liabilities and income taxes payable . we believe that within the next 12 months , it is reasonably possible that either certain audits will conclude or statutes of limitations on certain income tax examination periods will expire , or both . given the uncertainties described above , we can only determine a range of estimated potential effect in underlying unrecognized tax benefits ranging from $ 0 to approximately $ 45 million. .

| | | 2018 | 2017 | |---:|:-----------------------------------------------------------------------------|:-----------------|:-----------------| | 0 | beginning balance | $ 172945 | $ 178413 | | 1 | gross increases in unrecognized tax benefits 2013 prior year tax positions | 16191 | 3680 | | 2 | gross decreases in unrecognized tax benefits 2013 prior year tax positions | -4000 ( 4000 ) | -30166 ( 30166 ) | | 3 | gross increases in unrecognized tax benefits 2013 current year tax positions | 60721 | 24927 | | 4 | settlements with taxing authorities | 2014 | -3876 ( 3876 ) | | 5 | lapse of statute of limitations | -45922 ( 45922 ) | -8819 ( 8819 ) | | 6 | foreign exchange gains and losses | -3783 ( 3783 ) | 8786 | | 7 | ending balance | $ 196152 | $ 172945 |

table of contents adobe inc . notes to consolidated financial statements ( continued ) certain states and foreign jurisdictions to fully utilize available tax credits and other attributes . the deferred tax assets are offset by a valuation allowance to the extent it is more likely than not that they are not expected to be realized . we provide u.s . income taxes on the earnings of foreign subsidiaries unless the subsidiaries 2019 earnings are considered permanently reinvested outside the united states or are exempted from taxation as a result of the new territorial tax system . to the extent that the foreign earnings previously treated as permanently reinvested are repatriated , the related u.s . tax liability may be reduced by any foreign income taxes paid on these earnings . as of november 30 , 2018 , the cumulative amount of earnings upon which u.s . income taxes have not been provided is approximately $ 275 million . the unrecognized deferred tax liability for these earnings is approximately $ 57.8 million . as of november 30 , 2018 , we have net operating loss carryforwards of approximately $ 881.1 million for federal and $ 349.7 million for state . we also have federal , state and foreign tax credit carryforwards of approximately $ 8.8 million , $ 189.9 million and $ 14.9 million , respectively . the net operating loss carryforward assets and tax credits will expire in various years from fiscal 2019 through 2036 . the state tax credit carryforwards and a portion of the federal net operating loss carryforwards can be carried forward indefinitely . the net operating loss carryforward assets and certain credits are reduced by the valuation allowance and are subject to an annual limitation under internal revenue code section 382 , the carrying amount of which are expected to be fully realized . as of november 30 , 2018 , a valuation allowance of $ 174.5 million has been established for certain deferred tax assets related to certain state and foreign assets . for fiscal 2018 , the total change in the valuation allowance was $ 80.9 million . accounting for uncertainty in income taxes during fiscal 2018 and 2017 , our aggregate changes in our total gross amount of unrecognized tax benefits are summarized as follows ( in thousands ) : ._| | | 2018 | 2017 | |---:|:-----------------------------------------------------------------------------|:-----------------|:-----------------| | 0 | beginning balance | $ 172945 | $ 178413 | | 1 | gross increases in unrecognized tax benefits 2013 prior year tax positions | 16191 | 3680 | | 2 | gross decreases in unrecognized tax benefits 2013 prior year tax positions | -4000 ( 4000 ) | -30166 ( 30166 ) | | 3 | gross increases in unrecognized tax benefits 2013 current year tax positions | 60721 | 24927 | | 4 | settlements with taxing authorities | 2014 | -3876 ( 3876 ) | | 5 | lapse of statute of limitations | -45922 ( 45922 ) | -8819 ( 8819 ) | | 6 | foreign exchange gains and losses | -3783 ( 3783 ) | 8786 | | 7 | ending balance | $ 196152 | $ 172945 |_the combined amount of accrued interest and penalties related to tax positions taken on our tax returns were approximately $ 24.6 million and $ 23.6 million for fiscal 2018 and 2017 , respectively . these amounts were included in long-term income taxes payable in their respective years . we file income tax returns in the united states on a federal basis and in many u.s . state and foreign jurisdictions . we are subject to the continual examination of our income tax returns by the irs and other domestic and foreign tax authorities . our major tax jurisdictions are ireland , california and the united states . for ireland , california and the united states , the earliest fiscal years open for examination are 2008 , 2014 and 2015 , respectively . we regularly assess the likelihood of outcomes resulting from these examinations to determine the adequacy of our provision for income taxes and have reserved for potential adjustments that may result from these examinations . we believe such estimates to be reasonable ; however , there can be no assurance that the final determination of any of these examinations will not have an adverse effect on our operating results and financial position . the timing of the resolution of income tax examinations is highly uncertain as are the amounts and timing of tax payments that are part of any audit settlement process . these events could cause large fluctuations in the balance of short-term and long- term assets , liabilities and income taxes payable . we believe that within the next 12 months , it is reasonably possible that either certain audits will conclude or statutes of limitations on certain income tax examination periods will expire , or both . given the uncertainties described above , we can only determine a range of estimated potential effect in underlying unrecognized tax benefits ranging from $ 0 to approximately $ 45 million. .

2,018

86

ADBE

Adobe Inc.

Information Technology

Application Software

San Jose, California

1997-05-05

796,343

1982

what is the combined amount of accrued interest and penalties related to tax positions taken on our tax returns in millions for fiscal 2018 and 2017?

48.2

add(24.6, 23.6)

table of contents adobe inc . notes to consolidated financial statements ( continued ) certain states and foreign jurisdictions to fully utilize available tax credits and other attributes . the deferred tax assets are offset by a valuation allowance to the extent it is more likely than not that they are not expected to be realized . we provide u.s . income taxes on the earnings of foreign subsidiaries unless the subsidiaries 2019 earnings are considered permanently reinvested outside the united states or are exempted from taxation as a result of the new territorial tax system . to the extent that the foreign earnings previously treated as permanently reinvested are repatriated , the related u.s . tax liability may be reduced by any foreign income taxes paid on these earnings . as of november 30 , 2018 , the cumulative amount of earnings upon which u.s . income taxes have not been provided is approximately $ 275 million . the unrecognized deferred tax liability for these earnings is approximately $ 57.8 million . as of november 30 , 2018 , we have net operating loss carryforwards of approximately $ 881.1 million for federal and $ 349.7 million for state . we also have federal , state and foreign tax credit carryforwards of approximately $ 8.8 million , $ 189.9 million and $ 14.9 million , respectively . the net operating loss carryforward assets and tax credits will expire in various years from fiscal 2019 through 2036 . the state tax credit carryforwards and a portion of the federal net operating loss carryforwards can be carried forward indefinitely . the net operating loss carryforward assets and certain credits are reduced by the valuation allowance and are subject to an annual limitation under internal revenue code section 382 , the carrying amount of which are expected to be fully realized . as of november 30 , 2018 , a valuation allowance of $ 174.5 million has been established for certain deferred tax assets related to certain state and foreign assets . for fiscal 2018 , the total change in the valuation allowance was $ 80.9 million . accounting for uncertainty in income taxes during fiscal 2018 and 2017 , our aggregate changes in our total gross amount of unrecognized tax benefits are summarized as follows ( in thousands ) : .

the combined amount of accrued interest and penalties related to tax positions taken on our tax returns were approximately $ 24.6 million and $ 23.6 million for fiscal 2018 and 2017 , respectively . these amounts were included in long-term income taxes payable in their respective years . we file income tax returns in the united states on a federal basis and in many u.s . state and foreign jurisdictions . we are subject to the continual examination of our income tax returns by the irs and other domestic and foreign tax authorities . our major tax jurisdictions are ireland , california and the united states . for ireland , california and the united states , the earliest fiscal years open for examination are 2008 , 2014 and 2015 , respectively . we regularly assess the likelihood of outcomes resulting from these examinations to determine the adequacy of our provision for income taxes and have reserved for potential adjustments that may result from these examinations . we believe such estimates to be reasonable ; however , there can be no assurance that the final determination of any of these examinations will not have an adverse effect on our operating results and financial position . the timing of the resolution of income tax examinations is highly uncertain as are the amounts and timing of tax payments that are part of any audit settlement process . these events could cause large fluctuations in the balance of short-term and long- term assets , liabilities and income taxes payable . we believe that within the next 12 months , it is reasonably possible that either certain audits will conclude or statutes of limitations on certain income tax examination periods will expire , or both . given the uncertainties described above , we can only determine a range of estimated potential effect in underlying unrecognized tax benefits ranging from $ 0 to approximately $ 45 million. .

| | | 2018 | 2017 | |---:|:-----------------------------------------------------------------------------|:-----------------|:-----------------| | 0 | beginning balance | $ 172945 | $ 178413 | | 1 | gross increases in unrecognized tax benefits 2013 prior year tax positions | 16191 | 3680 | | 2 | gross decreases in unrecognized tax benefits 2013 prior year tax positions | -4000 ( 4000 ) | -30166 ( 30166 ) | | 3 | gross increases in unrecognized tax benefits 2013 current year tax positions | 60721 | 24927 | | 4 | settlements with taxing authorities | 2014 | -3876 ( 3876 ) | | 5 | lapse of statute of limitations | -45922 ( 45922 ) | -8819 ( 8819 ) | | 6 | foreign exchange gains and losses | -3783 ( 3783 ) | 8786 | | 7 | ending balance | $ 196152 | $ 172945 |

table of contents adobe inc . notes to consolidated financial statements ( continued ) certain states and foreign jurisdictions to fully utilize available tax credits and other attributes . the deferred tax assets are offset by a valuation allowance to the extent it is more likely than not that they are not expected to be realized . we provide u.s . income taxes on the earnings of foreign subsidiaries unless the subsidiaries 2019 earnings are considered permanently reinvested outside the united states or are exempted from taxation as a result of the new territorial tax system . to the extent that the foreign earnings previously treated as permanently reinvested are repatriated , the related u.s . tax liability may be reduced by any foreign income taxes paid on these earnings . as of november 30 , 2018 , the cumulative amount of earnings upon which u.s . income taxes have not been provided is approximately $ 275 million . the unrecognized deferred tax liability for these earnings is approximately $ 57.8 million . as of november 30 , 2018 , we have net operating loss carryforwards of approximately $ 881.1 million for federal and $ 349.7 million for state . we also have federal , state and foreign tax credit carryforwards of approximately $ 8.8 million , $ 189.9 million and $ 14.9 million , respectively . the net operating loss carryforward assets and tax credits will expire in various years from fiscal 2019 through 2036 . the state tax credit carryforwards and a portion of the federal net operating loss carryforwards can be carried forward indefinitely . the net operating loss carryforward assets and certain credits are reduced by the valuation allowance and are subject to an annual limitation under internal revenue code section 382 , the carrying amount of which are expected to be fully realized . as of november 30 , 2018 , a valuation allowance of $ 174.5 million has been established for certain deferred tax assets related to certain state and foreign assets . for fiscal 2018 , the total change in the valuation allowance was $ 80.9 million . accounting for uncertainty in income taxes during fiscal 2018 and 2017 , our aggregate changes in our total gross amount of unrecognized tax benefits are summarized as follows ( in thousands ) : ._| | | 2018 | 2017 | |---:|:-----------------------------------------------------------------------------|:-----------------|:-----------------| | 0 | beginning balance | $ 172945 | $ 178413 | | 1 | gross increases in unrecognized tax benefits 2013 prior year tax positions | 16191 | 3680 | | 2 | gross decreases in unrecognized tax benefits 2013 prior year tax positions | -4000 ( 4000 ) | -30166 ( 30166 ) | | 3 | gross increases in unrecognized tax benefits 2013 current year tax positions | 60721 | 24927 | | 4 | settlements with taxing authorities | 2014 | -3876 ( 3876 ) | | 5 | lapse of statute of limitations | -45922 ( 45922 ) | -8819 ( 8819 ) | | 6 | foreign exchange gains and losses | -3783 ( 3783 ) | 8786 | | 7 | ending balance | $ 196152 | $ 172945 |_the combined amount of accrued interest and penalties related to tax positions taken on our tax returns were approximately $ 24.6 million and $ 23.6 million for fiscal 2018 and 2017 , respectively . these amounts were included in long-term income taxes payable in their respective years . we file income tax returns in the united states on a federal basis and in many u.s . state and foreign jurisdictions . we are subject to the continual examination of our income tax returns by the irs and other domestic and foreign tax authorities . our major tax jurisdictions are ireland , california and the united states . for ireland , california and the united states , the earliest fiscal years open for examination are 2008 , 2014 and 2015 , respectively . we regularly assess the likelihood of outcomes resulting from these examinations to determine the adequacy of our provision for income taxes and have reserved for potential adjustments that may result from these examinations . we believe such estimates to be reasonable ; however , there can be no assurance that the final determination of any of these examinations will not have an adverse effect on our operating results and financial position . the timing of the resolution of income tax examinations is highly uncertain as are the amounts and timing of tax payments that are part of any audit settlement process . these events could cause large fluctuations in the balance of short-term and long- term assets , liabilities and income taxes payable . we believe that within the next 12 months , it is reasonably possible that either certain audits will conclude or statutes of limitations on certain income tax examination periods will expire , or both . given the uncertainties described above , we can only determine a range of estimated potential effect in underlying unrecognized tax benefits ranging from $ 0 to approximately $ 45 million. .

2,018

86

ADBE

Adobe Inc.

Information Technology

Application Software

San Jose, California

1997-05-05

796,343

1982

null

finqa209

what was the difference in percentage cumulative total return for the five year period ended 31-dec-2017 of citi common stock and s&p financials?

null

subtract(divide(subtract(193.5, const_100), const_100), divide(subtract(230.9, 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 difference in percentage cumulative total return for the five year period ended 31-dec-2017 of citi common stock and s&p financials?

null

subtract(divide(subtract(193.5, const_100), const_100), divide(subtract(230.9, 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

finqa210

if there were 50 facilities being rated in 2009 , how many were bbb/baa?

1

divide(divide(100, 50), divide(100, 50))

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

if there were 50 facilities being rated in 2009 , how many were bbb/baa?

1

divide(divide(100, 50), divide(100, 50))

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

finqa211

what will be the yearly interest expense for entergy louisiana for the bond issued in 2012 , ( in millions ) ?

4.7

subtract(250, 1.875%)

entergy louisiana , llc and subsidiaries management 2019s financial discussion and analysis all debt and common and preferred membership interest issuances by entergy louisiana require prior regulatory approval . preferred membership interest and debt issuances are also subject to issuance tests set forth in its bond indentures and other agreements . entergy louisiana has sufficient capacity under these tests to meet its foreseeable capital needs . entergy louisiana 2019s receivables from or ( payables to ) the money pool were as follows as of december 31 for each of the following years: .

see note 4 to the financial statements for a description of the money pool . entergy louisiana has a credit facility in the amount of $ 200 million scheduled to expire in august 2012 . as of december 31 , 2011 , $ 50 million was outstanding on the credit facility . entergy louisiana obtained short-term borrowing authorization from the ferc under which it may borrow through october 2013 , up to the aggregate amount , at any one time outstanding , of $ 250 million . see note 4 to the financial statements for further discussion of entergy louisiana 2019s short-term borrowing limits . entergy louisiana has also obtained an order from the ferc authorizing long-term securities issuances through july 2013 . in january 2012 , entergy louisiana issued $ 250 million of 1.875% ( 1.875 % ) series first mortgage bonds due december 2014 . entergy louisiana used the proceeds to repay short-term borrowings under the entergy system money pool . little gypsy repowering project in april 2007 , entergy louisiana announced that it intended to pursue the solid fuel repowering of a 538 mw unit at its little gypsy plant . in march 2009 the lpsc voted in favor of a motion directing entergy louisiana to temporarily suspend the repowering project and , based upon an analysis of the project 2019s economic viability , to make a recommendation regarding whether to proceed with the project . this action was based upon a number of factors including the recent decline in natural gas prices , as well as environmental concerns , the unknown costs of carbon legislation and changes in the capital/financial markets . in april 2009 , entergy louisiana complied with the lpsc 2019s directive and recommended that the project be suspended for an extended period of time of three years or more . in may 2009 the lpsc issued an order declaring that entergy louisiana 2019s decision to place the little gypsy project into a longer-term suspension of three years or more is in the public interest and prudent . in october 2009 , entergy louisiana made a filing with the lpsc seeking permission to cancel the little gypsy repowering project and seeking project cost recovery over a five-year period . in june 2010 and august 2010 , the lpsc staff and intervenors filed testimony . the lpsc staff ( 1 ) agreed that it was prudent to move the project from long-term suspension to cancellation and that the timing of the decision to suspend on a longer-term basis was not imprudent ; ( 2 ) indicated that , except for $ 0.8 million in compensation-related costs , the costs incurred should be deemed prudent ; ( 3 ) recommended recovery from customers over ten years but stated that the lpsc may want to consider 15 years ; ( 4 ) allowed for recovery of carrying costs and earning a return on project costs , but at a reduced rate approximating the cost of debt , while also acknowledging that the lpsc may consider ordering no return ; and ( 5 ) indicated that entergy louisiana should be directed to securitize project costs , if legally feasible and in the public interest . in the third quarter 2010 , in accordance with accounting standards , entergy louisiana determined that it was probable that the little gypsy repowering project would be abandoned and accordingly reclassified $ 199.8 million of project costs from construction work in progress to a regulatory asset . a hearing on the issues , except for cost allocation among customer classes , was held before the alj in november 2010 . in january 2011 all parties participated in a mediation on the disputed issues , resulting in a settlement of all disputed issues , including cost recovery and cost allocation . the settlement provides for entergy louisiana to recover $ 200 million as of march 31 , 2011 , and carrying costs on that amount on specified terms thereafter . the settlement also provides for entergy louisiana to recover the approved project costs by securitization . in april 2011 , entergy .

| | 2011 | 2010 | 2009 | 2008 | |---:|:-----------------|:-----------------|:-----------------|:-----------------| | 0 | ( in thousands ) | ( in thousands ) | ( in thousands ) | ( in thousands ) | | 1 | ( $ 118415 ) | $ 49887 | $ 52807 | $ 61236 |

entergy louisiana , llc and subsidiaries management 2019s financial discussion and analysis all debt and common and preferred membership interest issuances by entergy louisiana require prior regulatory approval . preferred membership interest and debt issuances are also subject to issuance tests set forth in its bond indentures and other agreements . entergy louisiana has sufficient capacity under these tests to meet its foreseeable capital needs . entergy louisiana 2019s receivables from or ( payables to ) the money pool were as follows as of december 31 for each of the following years: ._| | 2011 | 2010 | 2009 | 2008 | |---:|:-----------------|:-----------------|:-----------------|:-----------------| | 0 | ( in thousands ) | ( in thousands ) | ( in thousands ) | ( in thousands ) | | 1 | ( $ 118415 ) | $ 49887 | $ 52807 | $ 61236 |_see note 4 to the financial statements for a description of the money pool . entergy louisiana has a credit facility in the amount of $ 200 million scheduled to expire in august 2012 . as of december 31 , 2011 , $ 50 million was outstanding on the credit facility . entergy louisiana obtained short-term borrowing authorization from the ferc under which it may borrow through october 2013 , up to the aggregate amount , at any one time outstanding , of $ 250 million . see note 4 to the financial statements for further discussion of entergy louisiana 2019s short-term borrowing limits . entergy louisiana has also obtained an order from the ferc authorizing long-term securities issuances through july 2013 . in january 2012 , entergy louisiana issued $ 250 million of 1.875% ( 1.875 % ) series first mortgage bonds due december 2014 . entergy louisiana used the proceeds to repay short-term borrowings under the entergy system money pool . little gypsy repowering project in april 2007 , entergy louisiana announced that it intended to pursue the solid fuel repowering of a 538 mw unit at its little gypsy plant . in march 2009 the lpsc voted in favor of a motion directing entergy louisiana to temporarily suspend the repowering project and , based upon an analysis of the project 2019s economic viability , to make a recommendation regarding whether to proceed with the project . this action was based upon a number of factors including the recent decline in natural gas prices , as well as environmental concerns , the unknown costs of carbon legislation and changes in the capital/financial markets . in april 2009 , entergy louisiana complied with the lpsc 2019s directive and recommended that the project be suspended for an extended period of time of three years or more . in may 2009 the lpsc issued an order declaring that entergy louisiana 2019s decision to place the little gypsy project into a longer-term suspension of three years or more is in the public interest and prudent . in october 2009 , entergy louisiana made a filing with the lpsc seeking permission to cancel the little gypsy repowering project and seeking project cost recovery over a five-year period . in june 2010 and august 2010 , the lpsc staff and intervenors filed testimony . the lpsc staff ( 1 ) agreed that it was prudent to move the project from long-term suspension to cancellation and that the timing of the decision to suspend on a longer-term basis was not imprudent ; ( 2 ) indicated that , except for $ 0.8 million in compensation-related costs , the costs incurred should be deemed prudent ; ( 3 ) recommended recovery from customers over ten years but stated that the lpsc may want to consider 15 years ; ( 4 ) allowed for recovery of carrying costs and earning a return on project costs , but at a reduced rate approximating the cost of debt , while also acknowledging that the lpsc may consider ordering no return ; and ( 5 ) indicated that entergy louisiana should be directed to securitize project costs , if legally feasible and in the public interest . in the third quarter 2010 , in accordance with accounting standards , entergy louisiana determined that it was probable that the little gypsy repowering project would be abandoned and accordingly reclassified $ 199.8 million of project costs from construction work in progress to a regulatory asset . a hearing on the issues , except for cost allocation among customer classes , was held before the alj in november 2010 . in january 2011 all parties participated in a mediation on the disputed issues , resulting in a settlement of all disputed issues , including cost recovery and cost allocation . the settlement provides for entergy louisiana to recover $ 200 million as of march 31 , 2011 , and carrying costs on that amount on specified terms thereafter . the settlement also provides for entergy louisiana to recover the approved project costs by securitization . in april 2011 , entergy .

2,011

324

ETR

Entergy

Utilities

Electric Utilities

New Orleans, Louisiana

1957-03-04

65,984

1913

what will be the yearly interest expense for entergy louisiana for the bond issued in 2012 , ( in millions ) ?

4.7

subtract(250, 1.875%)

entergy louisiana , llc and subsidiaries management 2019s financial discussion and analysis all debt and common and preferred membership interest issuances by entergy louisiana require prior regulatory approval . preferred membership interest and debt issuances are also subject to issuance tests set forth in its bond indentures and other agreements . entergy louisiana has sufficient capacity under these tests to meet its foreseeable capital needs . entergy louisiana 2019s receivables from or ( payables to ) the money pool were as follows as of december 31 for each of the following years: .

see note 4 to the financial statements for a description of the money pool . entergy louisiana has a credit facility in the amount of $ 200 million scheduled to expire in august 2012 . as of december 31 , 2011 , $ 50 million was outstanding on the credit facility . entergy louisiana obtained short-term borrowing authorization from the ferc under which it may borrow through october 2013 , up to the aggregate amount , at any one time outstanding , of $ 250 million . see note 4 to the financial statements for further discussion of entergy louisiana 2019s short-term borrowing limits . entergy louisiana has also obtained an order from the ferc authorizing long-term securities issuances through july 2013 . in january 2012 , entergy louisiana issued $ 250 million of 1.875% ( 1.875 % ) series first mortgage bonds due december 2014 . entergy louisiana used the proceeds to repay short-term borrowings under the entergy system money pool . little gypsy repowering project in april 2007 , entergy louisiana announced that it intended to pursue the solid fuel repowering of a 538 mw unit at its little gypsy plant . in march 2009 the lpsc voted in favor of a motion directing entergy louisiana to temporarily suspend the repowering project and , based upon an analysis of the project 2019s economic viability , to make a recommendation regarding whether to proceed with the project . this action was based upon a number of factors including the recent decline in natural gas prices , as well as environmental concerns , the unknown costs of carbon legislation and changes in the capital/financial markets . in april 2009 , entergy louisiana complied with the lpsc 2019s directive and recommended that the project be suspended for an extended period of time of three years or more . in may 2009 the lpsc issued an order declaring that entergy louisiana 2019s decision to place the little gypsy project into a longer-term suspension of three years or more is in the public interest and prudent . in october 2009 , entergy louisiana made a filing with the lpsc seeking permission to cancel the little gypsy repowering project and seeking project cost recovery over a five-year period . in june 2010 and august 2010 , the lpsc staff and intervenors filed testimony . the lpsc staff ( 1 ) agreed that it was prudent to move the project from long-term suspension to cancellation and that the timing of the decision to suspend on a longer-term basis was not imprudent ; ( 2 ) indicated that , except for $ 0.8 million in compensation-related costs , the costs incurred should be deemed prudent ; ( 3 ) recommended recovery from customers over ten years but stated that the lpsc may want to consider 15 years ; ( 4 ) allowed for recovery of carrying costs and earning a return on project costs , but at a reduced rate approximating the cost of debt , while also acknowledging that the lpsc may consider ordering no return ; and ( 5 ) indicated that entergy louisiana should be directed to securitize project costs , if legally feasible and in the public interest . in the third quarter 2010 , in accordance with accounting standards , entergy louisiana determined that it was probable that the little gypsy repowering project would be abandoned and accordingly reclassified $ 199.8 million of project costs from construction work in progress to a regulatory asset . a hearing on the issues , except for cost allocation among customer classes , was held before the alj in november 2010 . in january 2011 all parties participated in a mediation on the disputed issues , resulting in a settlement of all disputed issues , including cost recovery and cost allocation . the settlement provides for entergy louisiana to recover $ 200 million as of march 31 , 2011 , and carrying costs on that amount on specified terms thereafter . the settlement also provides for entergy louisiana to recover the approved project costs by securitization . in april 2011 , entergy .

| | 2011 | 2010 | 2009 | 2008 | |---:|:-----------------|:-----------------|:-----------------|:-----------------| | 0 | ( in thousands ) | ( in thousands ) | ( in thousands ) | ( in thousands ) | | 1 | ( $ 118415 ) | $ 49887 | $ 52807 | $ 61236 |

entergy louisiana , llc and subsidiaries management 2019s financial discussion and analysis all debt and common and preferred membership interest issuances by entergy louisiana require prior regulatory approval . preferred membership interest and debt issuances are also subject to issuance tests set forth in its bond indentures and other agreements . entergy louisiana has sufficient capacity under these tests to meet its foreseeable capital needs . entergy louisiana 2019s receivables from or ( payables to ) the money pool were as follows as of december 31 for each of the following years: ._| | 2011 | 2010 | 2009 | 2008 | |---:|:-----------------|:-----------------|:-----------------|:-----------------| | 0 | ( in thousands ) | ( in thousands ) | ( in thousands ) | ( in thousands ) | | 1 | ( $ 118415 ) | $ 49887 | $ 52807 | $ 61236 |_see note 4 to the financial statements for a description of the money pool . entergy louisiana has a credit facility in the amount of $ 200 million scheduled to expire in august 2012 . as of december 31 , 2011 , $ 50 million was outstanding on the credit facility . entergy louisiana obtained short-term borrowing authorization from the ferc under which it may borrow through october 2013 , up to the aggregate amount , at any one time outstanding , of $ 250 million . see note 4 to the financial statements for further discussion of entergy louisiana 2019s short-term borrowing limits . entergy louisiana has also obtained an order from the ferc authorizing long-term securities issuances through july 2013 . in january 2012 , entergy louisiana issued $ 250 million of 1.875% ( 1.875 % ) series first mortgage bonds due december 2014 . entergy louisiana used the proceeds to repay short-term borrowings under the entergy system money pool . little gypsy repowering project in april 2007 , entergy louisiana announced that it intended to pursue the solid fuel repowering of a 538 mw unit at its little gypsy plant . in march 2009 the lpsc voted in favor of a motion directing entergy louisiana to temporarily suspend the repowering project and , based upon an analysis of the project 2019s economic viability , to make a recommendation regarding whether to proceed with the project . this action was based upon a number of factors including the recent decline in natural gas prices , as well as environmental concerns , the unknown costs of carbon legislation and changes in the capital/financial markets . in april 2009 , entergy louisiana complied with the lpsc 2019s directive and recommended that the project be suspended for an extended period of time of three years or more . in may 2009 the lpsc issued an order declaring that entergy louisiana 2019s decision to place the little gypsy project into a longer-term suspension of three years or more is in the public interest and prudent . in october 2009 , entergy louisiana made a filing with the lpsc seeking permission to cancel the little gypsy repowering project and seeking project cost recovery over a five-year period . in june 2010 and august 2010 , the lpsc staff and intervenors filed testimony . the lpsc staff ( 1 ) agreed that it was prudent to move the project from long-term suspension to cancellation and that the timing of the decision to suspend on a longer-term basis was not imprudent ; ( 2 ) indicated that , except for $ 0.8 million in compensation-related costs , the costs incurred should be deemed prudent ; ( 3 ) recommended recovery from customers over ten years but stated that the lpsc may want to consider 15 years ; ( 4 ) allowed for recovery of carrying costs and earning a return on project costs , but at a reduced rate approximating the cost of debt , while also acknowledging that the lpsc may consider ordering no return ; and ( 5 ) indicated that entergy louisiana should be directed to securitize project costs , if legally feasible and in the public interest . in the third quarter 2010 , in accordance with accounting standards , entergy louisiana determined that it was probable that the little gypsy repowering project would be abandoned and accordingly reclassified $ 199.8 million of project costs from construction work in progress to a regulatory asset . a hearing on the issues , except for cost allocation among customer classes , was held before the alj in november 2010 . in january 2011 all parties participated in a mediation on the disputed issues , resulting in a settlement of all disputed issues , including cost recovery and cost allocation . the settlement provides for entergy louisiana to recover $ 200 million as of march 31 , 2011 , and carrying costs on that amount on specified terms thereafter . the settlement also provides for entergy louisiana to recover the approved project costs by securitization . in april 2011 , entergy .

2,011

324

ETR

Entergy

Utilities

Electric Utilities

New Orleans, Louisiana

1957-03-04

65,984

1913

null

finqa212

what is the interest expense in 2015 assuming that all the debt is interest bearing debt , ( in billions ) ?

0.86

multiply(28.5, 3.0%)

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 interest expense in 2015 assuming that all the debt is interest bearing debt , ( in billions ) ?

0.86

multiply(28.5, 3.0%)

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

finqa213

what were capital expenditures associated with the retail segment since its inception , exclusive of the amount incurred during 2003 , in millions?

198

subtract(290, 92)

24 of 93 net sales in japan remained flat during 2002 versus 2001 , with a slight decline in unit sales of 2% ( 2 % ) . consistent with the company 2019s other geographic operating segments , during 2002 japan showed growth in unit sales of consumer systems and a decline in unit sales of power macintosh systems . japan 2019s imac unit sales increased 85% ( 85 % ) in 2002 . however , in the case of japan the increase in imac unit shipments in 2002 versus 2001 was primarily the result of the unusually depressed level of net sales experienced by the company in the first quarter of 2001 as discussed above . additionally , net sales in japan on a sequential and year-over-year comparative basis generally worsened as 2002 progressed reflecting particularly poor economic conditions in japan . retail the company opened 25 new retail stores during 2003 , bringing the total number of open stores to 65 as of september 27 , 2003 , which compares to 40 open stores as of september 28 , 2002 and 8 open stores as of september 29 , 2001 . during the first quarter of fiscal 2004 , the company opened 9 additional stores including its first international store in the ginza in tokyo , japan . the retail segment 2019s net sales grew to $ 621 million during 2003 from $ 283 million in 2002 and from $ 19 million in 2001 . the $ 338 million or 119% ( 119 % ) increase in net sales during 2003 reflects the impact from opening 25 new stores in 2003 , the full year impact of 2002 store openings , as well as an increase in average revenue per store . total macintosh sales increased by approximately $ 170 million of which $ 108 million related to year-over-year increases in powerbook sales . the retail segment has also contributed strongly to the increases in net sales of peripherals , software and services experienced by the company during 2003 . during 2003 , approximately 45% ( 45 % ) of the retail segment 2019s net sales came from the sale of apple-branded and third-party peripherals , software and services as compared to 28% ( 28 % ) for the company as a whole . with an average of 54 stores open during 2003 , the retail segment achieved annualized revenue per store of approximately $ 11.5 million , as compared to approximately $ 10.2 million based on an average of 28 stores open in 2002 . as measured by the company 2019s operating segment reporting , the retail segment improved from a loss of $ 22 million during 2002 to a loss of $ 5 million during 2003 . this improvement is primarily attributable to 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 since its inception totaled approximately $ 290 million through the end of fiscal 2003 , $ 92 million of which was incurred during 2003 . as of september 27 , 2003 , the retail segment had approximately 1300 employees and had outstanding operating lease commitments associated with retail store space and related facilities of $ 354 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 . investment in a new business model such as the retail segment is inherently risky , particularly in light of the significant investment involved , the current economic climate , and the fixed nature of a substantial portion of the retail segment 2019s operating expenses . gross margin gross margin for the three fiscal years ended september 27 , 2003 are as follows ( in millions , except gross margin percentages ) : .

gross margin decreased to 27.5% ( 27.5 % ) of net sales in 2003 from 27.9% ( 27.9 % ) of net sales in 2002 . this decline in gross margin reflects relatively aggressive pricing actions on several macintosh models instituted by the company beginning in late fiscal 2002 as a result of continued pricing pressure throughout the personal computer industry , lower sales of relatively higher margin power macintosh systems during the first three fiscal quarters of 2003 , and increased air freight and manufacturing costs associated with the production ramp-up of the new power mac g5 and 15-inch powerbook , both of which began shipping in volume during september 2003 . this decline is also attributable to a rise in certain component costs as the year progressed . the aforementioned negative factors affecting gross margins during 2003 were partially offset by the increase in higher margin software and direct sales . the company anticipates that its gross margin and the gross margin of the overall personal computer industry will remain under pressure throughout fiscal 2004 in light of weak economic conditions , price competition in the personal computer industry , and potential increases in component pricing . the company also expects to continue to incur air freight charges on the power mac g5 and other products during 2004 . the foregoing statements regarding the company 2019s expected gross margin during 2004 , general demand for personal computers , anticipated industry component pricing , anticipated air freight charges , and future economic conditions are forward-looking . there can be no assurance that current gross margins will be maintained , targeted gross margin levels will be achieved , or current margins on existing individual products will be maintained . in general , gross margins and margins on individual products will remain under .

| | | 2003 | 2002 | 2001 | |---:|:------------------------|:-----------------|:-----------------|:-----------------| | 0 | net sales | $ 6207 | $ 5742 | $ 5363 | | 1 | cost of sales | 4499 | 4139 | 4128 | | 2 | gross margin | $ 1708 | $ 1603 | $ 1235 | | 3 | gross margin percentage | 27.5% ( 27.5 % ) | 27.9% ( 27.9 % ) | 23.0% ( 23.0 % ) |

24 of 93 net sales in japan remained flat during 2002 versus 2001 , with a slight decline in unit sales of 2% ( 2 % ) . consistent with the company 2019s other geographic operating segments , during 2002 japan showed growth in unit sales of consumer systems and a decline in unit sales of power macintosh systems . japan 2019s imac unit sales increased 85% ( 85 % ) in 2002 . however , in the case of japan the increase in imac unit shipments in 2002 versus 2001 was primarily the result of the unusually depressed level of net sales experienced by the company in the first quarter of 2001 as discussed above . additionally , net sales in japan on a sequential and year-over-year comparative basis generally worsened as 2002 progressed reflecting particularly poor economic conditions in japan . retail the company opened 25 new retail stores during 2003 , bringing the total number of open stores to 65 as of september 27 , 2003 , which compares to 40 open stores as of september 28 , 2002 and 8 open stores as of september 29 , 2001 . during the first quarter of fiscal 2004 , the company opened 9 additional stores including its first international store in the ginza in tokyo , japan . the retail segment 2019s net sales grew to $ 621 million during 2003 from $ 283 million in 2002 and from $ 19 million in 2001 . the $ 338 million or 119% ( 119 % ) increase in net sales during 2003 reflects the impact from opening 25 new stores in 2003 , the full year impact of 2002 store openings , as well as an increase in average revenue per store . total macintosh sales increased by approximately $ 170 million of which $ 108 million related to year-over-year increases in powerbook sales . the retail segment has also contributed strongly to the increases in net sales of peripherals , software and services experienced by the company during 2003 . during 2003 , approximately 45% ( 45 % ) of the retail segment 2019s net sales came from the sale of apple-branded and third-party peripherals , software and services as compared to 28% ( 28 % ) for the company as a whole . with an average of 54 stores open during 2003 , the retail segment achieved annualized revenue per store of approximately $ 11.5 million , as compared to approximately $ 10.2 million based on an average of 28 stores open in 2002 . as measured by the company 2019s operating segment reporting , the retail segment improved from a loss of $ 22 million during 2002 to a loss of $ 5 million during 2003 . this improvement is primarily attributable to 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 since its inception totaled approximately $ 290 million through the end of fiscal 2003 , $ 92 million of which was incurred during 2003 . as of september 27 , 2003 , the retail segment had approximately 1300 employees and had outstanding operating lease commitments associated with retail store space and related facilities of $ 354 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 . investment in a new business model such as the retail segment is inherently risky , particularly in light of the significant investment involved , the current economic climate , and the fixed nature of a substantial portion of the retail segment 2019s operating expenses . gross margin gross margin for the three fiscal years ended september 27 , 2003 are as follows ( in millions , except gross margin percentages ) : ._| | | 2003 | 2002 | 2001 | |---:|:------------------------|:-----------------|:-----------------|:-----------------| | 0 | net sales | $ 6207 | $ 5742 | $ 5363 | | 1 | cost of sales | 4499 | 4139 | 4128 | | 2 | gross margin | $ 1708 | $ 1603 | $ 1235 | | 3 | gross margin percentage | 27.5% ( 27.5 % ) | 27.9% ( 27.9 % ) | 23.0% ( 23.0 % ) |_gross margin decreased to 27.5% ( 27.5 % ) of net sales in 2003 from 27.9% ( 27.9 % ) of net sales in 2002 . this decline in gross margin reflects relatively aggressive pricing actions on several macintosh models instituted by the company beginning in late fiscal 2002 as a result of continued pricing pressure throughout the personal computer industry , lower sales of relatively higher margin power macintosh systems during the first three fiscal quarters of 2003 , and increased air freight and manufacturing costs associated with the production ramp-up of the new power mac g5 and 15-inch powerbook , both of which began shipping in volume during september 2003 . this decline is also attributable to a rise in certain component costs as the year progressed . the aforementioned negative factors affecting gross margins during 2003 were partially offset by the increase in higher margin software and direct sales . the company anticipates that its gross margin and the gross margin of the overall personal computer industry will remain under pressure throughout fiscal 2004 in light of weak economic conditions , price competition in the personal computer industry , and potential increases in component pricing . the company also expects to continue to incur air freight charges on the power mac g5 and other products during 2004 . the foregoing statements regarding the company 2019s expected gross margin during 2004 , general demand for personal computers , anticipated industry component pricing , anticipated air freight charges , and future economic conditions are forward-looking . there can be no assurance that current gross margins will be maintained , targeted gross margin levels will be achieved , or current margins on existing individual products will be maintained . in general , gross margins and margins on individual products will remain under .

2,003

24

AAPL

Apple Inc.

Information Technology

Technology Hardware, Storage & Peripherals

Cupertino, California

1982-11-30

320,193

1977

what were capital expenditures associated with the retail segment since its inception , exclusive of the amount incurred during 2003 , in millions?

198

subtract(290, 92)

24 of 93 net sales in japan remained flat during 2002 versus 2001 , with a slight decline in unit sales of 2% ( 2 % ) . consistent with the company 2019s other geographic operating segments , during 2002 japan showed growth in unit sales of consumer systems and a decline in unit sales of power macintosh systems . japan 2019s imac unit sales increased 85% ( 85 % ) in 2002 . however , in the case of japan the increase in imac unit shipments in 2002 versus 2001 was primarily the result of the unusually depressed level of net sales experienced by the company in the first quarter of 2001 as discussed above . additionally , net sales in japan on a sequential and year-over-year comparative basis generally worsened as 2002 progressed reflecting particularly poor economic conditions in japan . retail the company opened 25 new retail stores during 2003 , bringing the total number of open stores to 65 as of september 27 , 2003 , which compares to 40 open stores as of september 28 , 2002 and 8 open stores as of september 29 , 2001 . during the first quarter of fiscal 2004 , the company opened 9 additional stores including its first international store in the ginza in tokyo , japan . the retail segment 2019s net sales grew to $ 621 million during 2003 from $ 283 million in 2002 and from $ 19 million in 2001 . the $ 338 million or 119% ( 119 % ) increase in net sales during 2003 reflects the impact from opening 25 new stores in 2003 , the full year impact of 2002 store openings , as well as an increase in average revenue per store . total macintosh sales increased by approximately $ 170 million of which $ 108 million related to year-over-year increases in powerbook sales . the retail segment has also contributed strongly to the increases in net sales of peripherals , software and services experienced by the company during 2003 . during 2003 , approximately 45% ( 45 % ) of the retail segment 2019s net sales came from the sale of apple-branded and third-party peripherals , software and services as compared to 28% ( 28 % ) for the company as a whole . with an average of 54 stores open during 2003 , the retail segment achieved annualized revenue per store of approximately $ 11.5 million , as compared to approximately $ 10.2 million based on an average of 28 stores open in 2002 . as measured by the company 2019s operating segment reporting , the retail segment improved from a loss of $ 22 million during 2002 to a loss of $ 5 million during 2003 . this improvement is primarily attributable to 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 since its inception totaled approximately $ 290 million through the end of fiscal 2003 , $ 92 million of which was incurred during 2003 . as of september 27 , 2003 , the retail segment had approximately 1300 employees and had outstanding operating lease commitments associated with retail store space and related facilities of $ 354 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 . investment in a new business model such as the retail segment is inherently risky , particularly in light of the significant investment involved , the current economic climate , and the fixed nature of a substantial portion of the retail segment 2019s operating expenses . gross margin gross margin for the three fiscal years ended september 27 , 2003 are as follows ( in millions , except gross margin percentages ) : .

gross margin decreased to 27.5% ( 27.5 % ) of net sales in 2003 from 27.9% ( 27.9 % ) of net sales in 2002 . this decline in gross margin reflects relatively aggressive pricing actions on several macintosh models instituted by the company beginning in late fiscal 2002 as a result of continued pricing pressure throughout the personal computer industry , lower sales of relatively higher margin power macintosh systems during the first three fiscal quarters of 2003 , and increased air freight and manufacturing costs associated with the production ramp-up of the new power mac g5 and 15-inch powerbook , both of which began shipping in volume during september 2003 . this decline is also attributable to a rise in certain component costs as the year progressed . the aforementioned negative factors affecting gross margins during 2003 were partially offset by the increase in higher margin software and direct sales . the company anticipates that its gross margin and the gross margin of the overall personal computer industry will remain under pressure throughout fiscal 2004 in light of weak economic conditions , price competition in the personal computer industry , and potential increases in component pricing . the company also expects to continue to incur air freight charges on the power mac g5 and other products during 2004 . the foregoing statements regarding the company 2019s expected gross margin during 2004 , general demand for personal computers , anticipated industry component pricing , anticipated air freight charges , and future economic conditions are forward-looking . there can be no assurance that current gross margins will be maintained , targeted gross margin levels will be achieved , or current margins on existing individual products will be maintained . in general , gross margins and margins on individual products will remain under .

| | | 2003 | 2002 | 2001 | |---:|:------------------------|:-----------------|:-----------------|:-----------------| | 0 | net sales | $ 6207 | $ 5742 | $ 5363 | | 1 | cost of sales | 4499 | 4139 | 4128 | | 2 | gross margin | $ 1708 | $ 1603 | $ 1235 | | 3 | gross margin percentage | 27.5% ( 27.5 % ) | 27.9% ( 27.9 % ) | 23.0% ( 23.0 % ) |

24 of 93 net sales in japan remained flat during 2002 versus 2001 , with a slight decline in unit sales of 2% ( 2 % ) . consistent with the company 2019s other geographic operating segments , during 2002 japan showed growth in unit sales of consumer systems and a decline in unit sales of power macintosh systems . japan 2019s imac unit sales increased 85% ( 85 % ) in 2002 . however , in the case of japan the increase in imac unit shipments in 2002 versus 2001 was primarily the result of the unusually depressed level of net sales experienced by the company in the first quarter of 2001 as discussed above . additionally , net sales in japan on a sequential and year-over-year comparative basis generally worsened as 2002 progressed reflecting particularly poor economic conditions in japan . retail the company opened 25 new retail stores during 2003 , bringing the total number of open stores to 65 as of september 27 , 2003 , which compares to 40 open stores as of september 28 , 2002 and 8 open stores as of september 29 , 2001 . during the first quarter of fiscal 2004 , the company opened 9 additional stores including its first international store in the ginza in tokyo , japan . the retail segment 2019s net sales grew to $ 621 million during 2003 from $ 283 million in 2002 and from $ 19 million in 2001 . the $ 338 million or 119% ( 119 % ) increase in net sales during 2003 reflects the impact from opening 25 new stores in 2003 , the full year impact of 2002 store openings , as well as an increase in average revenue per store . total macintosh sales increased by approximately $ 170 million of which $ 108 million related to year-over-year increases in powerbook sales . the retail segment has also contributed strongly to the increases in net sales of peripherals , software and services experienced by the company during 2003 . during 2003 , approximately 45% ( 45 % ) of the retail segment 2019s net sales came from the sale of apple-branded and third-party peripherals , software and services as compared to 28% ( 28 % ) for the company as a whole . with an average of 54 stores open during 2003 , the retail segment achieved annualized revenue per store of approximately $ 11.5 million , as compared to approximately $ 10.2 million based on an average of 28 stores open in 2002 . as measured by the company 2019s operating segment reporting , the retail segment improved from a loss of $ 22 million during 2002 to a loss of $ 5 million during 2003 . this improvement is primarily attributable to 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 since its inception totaled approximately $ 290 million through the end of fiscal 2003 , $ 92 million of which was incurred during 2003 . as of september 27 , 2003 , the retail segment had approximately 1300 employees and had outstanding operating lease commitments associated with retail store space and related facilities of $ 354 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 . investment in a new business model such as the retail segment is inherently risky , particularly in light of the significant investment involved , the current economic climate , and the fixed nature of a substantial portion of the retail segment 2019s operating expenses . gross margin gross margin for the three fiscal years ended september 27 , 2003 are as follows ( in millions , except gross margin percentages ) : ._| | | 2003 | 2002 | 2001 | |---:|:------------------------|:-----------------|:-----------------|:-----------------| | 0 | net sales | $ 6207 | $ 5742 | $ 5363 | | 1 | cost of sales | 4499 | 4139 | 4128 | | 2 | gross margin | $ 1708 | $ 1603 | $ 1235 | | 3 | gross margin percentage | 27.5% ( 27.5 % ) | 27.9% ( 27.9 % ) | 23.0% ( 23.0 % ) |_gross margin decreased to 27.5% ( 27.5 % ) of net sales in 2003 from 27.9% ( 27.9 % ) of net sales in 2002 . this decline in gross margin reflects relatively aggressive pricing actions on several macintosh models instituted by the company beginning in late fiscal 2002 as a result of continued pricing pressure throughout the personal computer industry , lower sales of relatively higher margin power macintosh systems during the first three fiscal quarters of 2003 , and increased air freight and manufacturing costs associated with the production ramp-up of the new power mac g5 and 15-inch powerbook , both of which began shipping in volume during september 2003 . this decline is also attributable to a rise in certain component costs as the year progressed . the aforementioned negative factors affecting gross margins during 2003 were partially offset by the increase in higher margin software and direct sales . the company anticipates that its gross margin and the gross margin of the overall personal computer industry will remain under pressure throughout fiscal 2004 in light of weak economic conditions , price competition in the personal computer industry , and potential increases in component pricing . the company also expects to continue to incur air freight charges on the power mac g5 and other products during 2004 . the foregoing statements regarding the company 2019s expected gross margin during 2004 , general demand for personal computers , anticipated industry component pricing , anticipated air freight charges , and future economic conditions are forward-looking . there can be no assurance that current gross margins will be maintained , targeted gross margin levels will be achieved , or current margins on existing individual products will be maintained . in general , gross margins and margins on individual products will remain under .

2,003

24

AAPL

Apple Inc.

Information Technology

Technology Hardware, Storage & Peripherals

Cupertino, California

1982-11-30

320,193

1977

null

finqa214

what is the difference in payments between entergy arkansas and entergy new orleans , in millions?

66

subtract(68, 2)

entergy corporation and subsidiaries notes to financial statements entergy arkansas made its payment in january 2012 . in february 2012 , entergy arkansas filed for an interim adjustment to its production cost allocation rider requesting that the $ 156 million payment be collected from customers over the 22-month period from march 2012 through december 2013 . in march 2012 the apsc issued an order stating that the payment can be recovered from retail customers through the production cost allocation rider , subject to refund . the lpsc and the apsc have requested rehearing of the ferc 2019s october 2011 order . in december 2013 the lpsc filed a petition for a writ of mandamus at the united states court of appeals for the d.c . circuit . in its petition , the lpsc requested that the d.c . circuit issue an order compelling the ferc to issue a final order on pending rehearing requests . in january 2014 the d.c . circuit denied the lpsc 2019s petition . the apsc , the lpsc , the puct , and other parties intervened in the december 2011 compliance filing proceeding , and the apsc and the lpsc also filed protests . in february 2014 the ferc issued a rehearing order addressing its october 2011 order . the ferc denied the lpsc 2019s request for rehearing on the issues of whether the bandwidth remedy should be made effective earlier than june 1 , 2005 , and whether refunds should be ordered for the 20-month refund effective period . the ferc granted the lpsc 2019s rehearing request on the issue of interest on the bandwidth payments/receipts for the june - december 2005 period , requiring that interest be accrued from june 1 , 2006 until the date those bandwidth payments/receipts are made . also in february 2014 the ferc issued an order rejecting the december 2011 compliance filing that calculated the bandwidth payments/receipts for the june - december 2005 period . the ferc order required a new compliance filing that calculates the bandwidth payments/receipts for the june - december 2005 period based on monthly data for the seven individual months including interest pursuant to the february 2014 rehearing order . entergy has sought rehearing of the february 2014 orders with respect to the ferc 2019s determinations regarding interest . in april 2014 the lpsc filed a petition for review of the ferc 2019s october 2011 and february 2014 orders with the u.s . court of appeals for the d.c . circuit . the appeal is pending . in april and may 2014 , entergy filed with the ferc an updated compliance filing that provides the payments and receipts among the utility operating companies pursuant to the ferc 2019s february 2014 orders . the filing shows the following net payments and receipts , including interest , among the utility operating companies : payments ( receipts ) ( in millions ) .

these payments were made in may 2014 . the lpsc , city council , and apsc have filed protests. .

| | | payments ( receipts ) ( in millions ) | |---:|:--------------------|:----------------------------------------| | 0 | entergy arkansas | $ 68 | | 1 | entergy louisiana | ( $ 10 ) | | 2 | entergy mississippi | ( $ 11 ) | | 3 | entergy new orleans | $ 2 | | 4 | entergy texas | ( $ 49 ) |

entergy corporation and subsidiaries notes to financial statements entergy arkansas made its payment in january 2012 . in february 2012 , entergy arkansas filed for an interim adjustment to its production cost allocation rider requesting that the $ 156 million payment be collected from customers over the 22-month period from march 2012 through december 2013 . in march 2012 the apsc issued an order stating that the payment can be recovered from retail customers through the production cost allocation rider , subject to refund . the lpsc and the apsc have requested rehearing of the ferc 2019s october 2011 order . in december 2013 the lpsc filed a petition for a writ of mandamus at the united states court of appeals for the d.c . circuit . in its petition , the lpsc requested that the d.c . circuit issue an order compelling the ferc to issue a final order on pending rehearing requests . in january 2014 the d.c . circuit denied the lpsc 2019s petition . the apsc , the lpsc , the puct , and other parties intervened in the december 2011 compliance filing proceeding , and the apsc and the lpsc also filed protests . in february 2014 the ferc issued a rehearing order addressing its october 2011 order . the ferc denied the lpsc 2019s request for rehearing on the issues of whether the bandwidth remedy should be made effective earlier than june 1 , 2005 , and whether refunds should be ordered for the 20-month refund effective period . the ferc granted the lpsc 2019s rehearing request on the issue of interest on the bandwidth payments/receipts for the june - december 2005 period , requiring that interest be accrued from june 1 , 2006 until the date those bandwidth payments/receipts are made . also in february 2014 the ferc issued an order rejecting the december 2011 compliance filing that calculated the bandwidth payments/receipts for the june - december 2005 period . the ferc order required a new compliance filing that calculates the bandwidth payments/receipts for the june - december 2005 period based on monthly data for the seven individual months including interest pursuant to the february 2014 rehearing order . entergy has sought rehearing of the february 2014 orders with respect to the ferc 2019s determinations regarding interest . in april 2014 the lpsc filed a petition for review of the ferc 2019s october 2011 and february 2014 orders with the u.s . court of appeals for the d.c . circuit . the appeal is pending . in april and may 2014 , entergy filed with the ferc an updated compliance filing that provides the payments and receipts among the utility operating companies pursuant to the ferc 2019s february 2014 orders . the filing shows the following net payments and receipts , including interest , among the utility operating companies : payments ( receipts ) ( in millions ) ._| | | payments ( receipts ) ( in millions ) | |---:|:--------------------|:----------------------------------------| | 0 | entergy arkansas | $ 68 | | 1 | entergy louisiana | ( $ 10 ) | | 2 | entergy mississippi | ( $ 11 ) | | 3 | entergy new orleans | $ 2 | | 4 | entergy texas | ( $ 49 ) |_these payments were made in may 2014 . the lpsc , city council , and apsc have filed protests. .

2,015

109

ETR

Entergy

Utilities

Electric Utilities

New Orleans, Louisiana

1957-03-04

65,984

1913

what is the difference in payments between entergy arkansas and entergy new orleans , in millions?

66

subtract(68, 2)

entergy corporation and subsidiaries notes to financial statements entergy arkansas made its payment in january 2012 . in february 2012 , entergy arkansas filed for an interim adjustment to its production cost allocation rider requesting that the $ 156 million payment be collected from customers over the 22-month period from march 2012 through december 2013 . in march 2012 the apsc issued an order stating that the payment can be recovered from retail customers through the production cost allocation rider , subject to refund . the lpsc and the apsc have requested rehearing of the ferc 2019s october 2011 order . in december 2013 the lpsc filed a petition for a writ of mandamus at the united states court of appeals for the d.c . circuit . in its petition , the lpsc requested that the d.c . circuit issue an order compelling the ferc to issue a final order on pending rehearing requests . in january 2014 the d.c . circuit denied the lpsc 2019s petition . the apsc , the lpsc , the puct , and other parties intervened in the december 2011 compliance filing proceeding , and the apsc and the lpsc also filed protests . in february 2014 the ferc issued a rehearing order addressing its october 2011 order . the ferc denied the lpsc 2019s request for rehearing on the issues of whether the bandwidth remedy should be made effective earlier than june 1 , 2005 , and whether refunds should be ordered for the 20-month refund effective period . the ferc granted the lpsc 2019s rehearing request on the issue of interest on the bandwidth payments/receipts for the june - december 2005 period , requiring that interest be accrued from june 1 , 2006 until the date those bandwidth payments/receipts are made . also in february 2014 the ferc issued an order rejecting the december 2011 compliance filing that calculated the bandwidth payments/receipts for the june - december 2005 period . the ferc order required a new compliance filing that calculates the bandwidth payments/receipts for the june - december 2005 period based on monthly data for the seven individual months including interest pursuant to the february 2014 rehearing order . entergy has sought rehearing of the february 2014 orders with respect to the ferc 2019s determinations regarding interest . in april 2014 the lpsc filed a petition for review of the ferc 2019s october 2011 and february 2014 orders with the u.s . court of appeals for the d.c . circuit . the appeal is pending . in april and may 2014 , entergy filed with the ferc an updated compliance filing that provides the payments and receipts among the utility operating companies pursuant to the ferc 2019s february 2014 orders . the filing shows the following net payments and receipts , including interest , among the utility operating companies : payments ( receipts ) ( in millions ) .

these payments were made in may 2014 . the lpsc , city council , and apsc have filed protests. .

| | | payments ( receipts ) ( in millions ) | |---:|:--------------------|:----------------------------------------| | 0 | entergy arkansas | $ 68 | | 1 | entergy louisiana | ( $ 10 ) | | 2 | entergy mississippi | ( $ 11 ) | | 3 | entergy new orleans | $ 2 | | 4 | entergy texas | ( $ 49 ) |

entergy corporation and subsidiaries notes to financial statements entergy arkansas made its payment in january 2012 . in february 2012 , entergy arkansas filed for an interim adjustment to its production cost allocation rider requesting that the $ 156 million payment be collected from customers over the 22-month period from march 2012 through december 2013 . in march 2012 the apsc issued an order stating that the payment can be recovered from retail customers through the production cost allocation rider , subject to refund . the lpsc and the apsc have requested rehearing of the ferc 2019s october 2011 order . in december 2013 the lpsc filed a petition for a writ of mandamus at the united states court of appeals for the d.c . circuit . in its petition , the lpsc requested that the d.c . circuit issue an order compelling the ferc to issue a final order on pending rehearing requests . in january 2014 the d.c . circuit denied the lpsc 2019s petition . the apsc , the lpsc , the puct , and other parties intervened in the december 2011 compliance filing proceeding , and the apsc and the lpsc also filed protests . in february 2014 the ferc issued a rehearing order addressing its october 2011 order . the ferc denied the lpsc 2019s request for rehearing on the issues of whether the bandwidth remedy should be made effective earlier than june 1 , 2005 , and whether refunds should be ordered for the 20-month refund effective period . the ferc granted the lpsc 2019s rehearing request on the issue of interest on the bandwidth payments/receipts for the june - december 2005 period , requiring that interest be accrued from june 1 , 2006 until the date those bandwidth payments/receipts are made . also in february 2014 the ferc issued an order rejecting the december 2011 compliance filing that calculated the bandwidth payments/receipts for the june - december 2005 period . the ferc order required a new compliance filing that calculates the bandwidth payments/receipts for the june - december 2005 period based on monthly data for the seven individual months including interest pursuant to the february 2014 rehearing order . entergy has sought rehearing of the february 2014 orders with respect to the ferc 2019s determinations regarding interest . in april 2014 the lpsc filed a petition for review of the ferc 2019s october 2011 and february 2014 orders with the u.s . court of appeals for the d.c . circuit . the appeal is pending . in april and may 2014 , entergy filed with the ferc an updated compliance filing that provides the payments and receipts among the utility operating companies pursuant to the ferc 2019s february 2014 orders . the filing shows the following net payments and receipts , including interest , among the utility operating companies : payments ( receipts ) ( in millions ) ._| | | payments ( receipts ) ( in millions ) | |---:|:--------------------|:----------------------------------------| | 0 | entergy arkansas | $ 68 | | 1 | entergy louisiana | ( $ 10 ) | | 2 | entergy mississippi | ( $ 11 ) | | 3 | entergy new orleans | $ 2 | | 4 | entergy texas | ( $ 49 ) |_these payments were made in may 2014 . the lpsc , city council , and apsc have filed protests. .

2,015

109

ETR

Entergy

Utilities

Electric Utilities

New Orleans, Louisiana

1957-03-04

65,984

1913

null

finqa215

what was the average rental expense , net of sublease income from 2004 to 2006 in millions

232

divide(add(add(add(241, 250), 205), const_3), const_2)

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 average rental expense , net of sublease income from 2004 to 2006 in millions

232

divide(add(add(add(241, 250), 205), const_3), const_2)

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

finqa216

what was the difference in percentage cumulative 5-year total stockholder return for cadence design systems inc . compared to the nasdaq composite for the period ending 12/29/2018?

145.29%

subtract(divide(subtract(311.13, const_100), const_100), divide(subtract(165.84, const_100), const_100))

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 was the difference in percentage cumulative 5-year total stockholder return for cadence design systems inc . compared to the nasdaq composite for the period ending 12/29/2018?

145.29%

subtract(divide(subtract(311.13, const_100), const_100), divide(subtract(165.84, const_100), const_100))

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

finqa217

considering the year 2016 , what was the percentual increase in the high sale price observed during the first and second quarters?

12.52%

subtract(divide(34.50, 30.66), const_1)

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 3 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 . 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 the fourth quarter of 2016 do not reflect any adjustment for the impact of the separation of alcoa corporation from the company on november 1 , 2016 , and therefore are not comparable to pre-separation prices from earlier periods. .

the number of holders of record of common stock was approximately 12885 as of february 23 , 2017. .

| | quarter | 2016 high | 2016 low | 2016 dividend | 2016 high | 2016 low | dividend | |---:|:--------------------------------------------------|:------------|:-----------|:----------------|:------------|:-----------|:-----------| | 0 | first | $ 30.66 | $ 18.42 | $ 0.09 | $ 51.30 | $ 37.95 | $ 0.09 | | 1 | second | 34.50 | 26.34 | 0.09 | 42.87 | 33.45 | 0.09 | | 2 | third | 32.91 | 27.09 | 0.09 | 33.69 | 23.91 | 0.09 | | 3 | fourth ( separation occurred on november 1 2016 ) | 32.10 | 16.75 | 0.09 | 33.54 | 23.43 | 0.09 | | 4 | year | $ 34.50 | $ 16.75 | $ 0.36 | $ 51.30 | $ 23.43 | $ 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 3 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 . 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 the fourth quarter of 2016 do not reflect any adjustment for the impact of the separation of alcoa corporation from the company on november 1 , 2016 , and therefore are not comparable to pre-separation prices from earlier periods. ._| | quarter | 2016 high | 2016 low | 2016 dividend | 2016 high | 2016 low | dividend | |---:|:--------------------------------------------------|:------------|:-----------|:----------------|:------------|:-----------|:-----------| | 0 | first | $ 30.66 | $ 18.42 | $ 0.09 | $ 51.30 | $ 37.95 | $ 0.09 | | 1 | second | 34.50 | 26.34 | 0.09 | 42.87 | 33.45 | 0.09 | | 2 | third | 32.91 | 27.09 | 0.09 | 33.69 | 23.91 | 0.09 | | 3 | fourth ( separation occurred on november 1 2016 ) | 32.10 | 16.75 | 0.09 | 33.54 | 23.43 | 0.09 | | 4 | year | $ 34.50 | $ 16.75 | $ 0.36 | $ 51.30 | $ 23.43 | $ 0.36 |_the number of holders of record of common stock was approximately 12885 as of february 23 , 2017. .

2,016

40

HWM

Howmet Aerospace

Industrials

Aerospace & Defense

Pittsburgh, Pennsylvania

2016-10-21

4,281

1888

considering the year 2016 , what was the percentual increase in the high sale price observed during the first and second quarters?

12.52%

subtract(divide(34.50, 30.66), const_1)

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 3 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 . 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 the fourth quarter of 2016 do not reflect any adjustment for the impact of the separation of alcoa corporation from the company on november 1 , 2016 , and therefore are not comparable to pre-separation prices from earlier periods. .

the number of holders of record of common stock was approximately 12885 as of february 23 , 2017. .

| | quarter | 2016 high | 2016 low | 2016 dividend | 2016 high | 2016 low | dividend | |---:|:--------------------------------------------------|:------------|:-----------|:----------------|:------------|:-----------|:-----------| | 0 | first | $ 30.66 | $ 18.42 | $ 0.09 | $ 51.30 | $ 37.95 | $ 0.09 | | 1 | second | 34.50 | 26.34 | 0.09 | 42.87 | 33.45 | 0.09 | | 2 | third | 32.91 | 27.09 | 0.09 | 33.69 | 23.91 | 0.09 | | 3 | fourth ( separation occurred on november 1 2016 ) | 32.10 | 16.75 | 0.09 | 33.54 | 23.43 | 0.09 | | 4 | year | $ 34.50 | $ 16.75 | $ 0.36 | $ 51.30 | $ 23.43 | $ 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 3 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 . 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 the fourth quarter of 2016 do not reflect any adjustment for the impact of the separation of alcoa corporation from the company on november 1 , 2016 , and therefore are not comparable to pre-separation prices from earlier periods. ._| | quarter | 2016 high | 2016 low | 2016 dividend | 2016 high | 2016 low | dividend | |---:|:--------------------------------------------------|:------------|:-----------|:----------------|:------------|:-----------|:-----------| | 0 | first | $ 30.66 | $ 18.42 | $ 0.09 | $ 51.30 | $ 37.95 | $ 0.09 | | 1 | second | 34.50 | 26.34 | 0.09 | 42.87 | 33.45 | 0.09 | | 2 | third | 32.91 | 27.09 | 0.09 | 33.69 | 23.91 | 0.09 | | 3 | fourth ( separation occurred on november 1 2016 ) | 32.10 | 16.75 | 0.09 | 33.54 | 23.43 | 0.09 | | 4 | year | $ 34.50 | $ 16.75 | $ 0.36 | $ 51.30 | $ 23.43 | $ 0.36 |_the number of holders of record of common stock was approximately 12885 as of february 23 , 2017. .

2,016

40

HWM

Howmet Aerospace

Industrials

Aerospace & Defense

Pittsburgh, Pennsylvania

2016-10-21

4,281

1888

null

finqa218

what is the net change in net revenue during 2016?

-124

subtract(1542, 1666)

amortized over a nine-year period beginning december 2015 . see note 2 to the financial statements for further discussion of the business combination and customer credits . the volume/weather variance is primarily due to the effect of more favorable weather during the unbilled period and an increase in industrial usage , partially offset by the effect of less favorable weather on residential sales . the increase in industrial usage is primarily due to expansion projects , primarily in the chemicals industry , and increased demand from new customers , primarily in the industrial gases industry . the louisiana act 55 financing savings obligation variance results from a regulatory charge for tax savings to be shared with customers per an agreement approved by the lpsc . the tax savings resulted from the 2010-2011 irs audit settlement on the treatment of the louisiana act 55 financing of storm costs for hurricane gustav and hurricane ike . see note 3 to the financial statements for additional discussion of the settlement and benefit sharing . included in other is a provision of $ 23 million recorded in 2016 related to the settlement of the waterford 3 replacement steam generator prudence review proceeding , offset by a provision of $ 32 million recorded in 2015 related to the uncertainty at that time associated with the resolution of the waterford 3 replacement steam generator prudence review proceeding . a0 see note 2 to the financial statements for a discussion of the waterford 3 replacement steam generator prudence review proceeding . entergy wholesale commodities following is an analysis of the change in net revenue comparing 2016 to 2015 . amount ( in millions ) .

as shown in the table above , net revenue for entergy wholesale commodities decreased by approximately $ 124 million in 2016 primarily due to : 2022 lower realized wholesale energy prices and lower capacity prices , the amortization of the palisades below- market ppa , and vermont yankee capacity revenue . the effect of the amortization of the palisades below- market ppa and vermont yankee capacity revenue on the net revenue variance from 2015 to 2016 is minimal ; 2022 the sale of the rhode island state energy center in december 2015 . see note 14 to the financial statements for further discussion of the rhode island state energy center sale ; and 2022 lower volume in the entergy wholesale commodities nuclear fleet resulting from more refueling outage days in 2016 as compared to 2015 and larger exercise of resupply options in 2016 as compared to 2015 . see 201cnuclear matters - indian point 201d below for discussion of the extended indian point 2 outage in the second quarter entergy corporation and subsidiaries management 2019s financial discussion and analysis .

| | | amount ( in millions ) | |---:|:------------------------------------|:-------------------------| | 0 | 2015 net revenue | $ 1666 | | 1 | nuclear realized price changes | -149 ( 149 ) | | 2 | rhode island state energy center | -44 ( 44 ) | | 3 | nuclear volume | -36 ( 36 ) | | 4 | fitzpatrick reimbursement agreement | 41 | | 5 | nuclear fuel expenses | 68 | | 6 | other | -4 ( 4 ) | | 7 | 2016 net revenue | $ 1542 |

amortized over a nine-year period beginning december 2015 . see note 2 to the financial statements for further discussion of the business combination and customer credits . the volume/weather variance is primarily due to the effect of more favorable weather during the unbilled period and an increase in industrial usage , partially offset by the effect of less favorable weather on residential sales . the increase in industrial usage is primarily due to expansion projects , primarily in the chemicals industry , and increased demand from new customers , primarily in the industrial gases industry . the louisiana act 55 financing savings obligation variance results from a regulatory charge for tax savings to be shared with customers per an agreement approved by the lpsc . the tax savings resulted from the 2010-2011 irs audit settlement on the treatment of the louisiana act 55 financing of storm costs for hurricane gustav and hurricane ike . see note 3 to the financial statements for additional discussion of the settlement and benefit sharing . included in other is a provision of $ 23 million recorded in 2016 related to the settlement of the waterford 3 replacement steam generator prudence review proceeding , offset by a provision of $ 32 million recorded in 2015 related to the uncertainty at that time associated with the resolution of the waterford 3 replacement steam generator prudence review proceeding . a0 see note 2 to the financial statements for a discussion of the waterford 3 replacement steam generator prudence review proceeding . entergy wholesale commodities following is an analysis of the change in net revenue comparing 2016 to 2015 . amount ( in millions ) ._| | | amount ( in millions ) | |---:|:------------------------------------|:-------------------------| | 0 | 2015 net revenue | $ 1666 | | 1 | nuclear realized price changes | -149 ( 149 ) | | 2 | rhode island state energy center | -44 ( 44 ) | | 3 | nuclear volume | -36 ( 36 ) | | 4 | fitzpatrick reimbursement agreement | 41 | | 5 | nuclear fuel expenses | 68 | | 6 | other | -4 ( 4 ) | | 7 | 2016 net revenue | $ 1542 |_as shown in the table above , net revenue for entergy wholesale commodities decreased by approximately $ 124 million in 2016 primarily due to : 2022 lower realized wholesale energy prices and lower capacity prices , the amortization of the palisades below- market ppa , and vermont yankee capacity revenue . the effect of the amortization of the palisades below- market ppa and vermont yankee capacity revenue on the net revenue variance from 2015 to 2016 is minimal ; 2022 the sale of the rhode island state energy center in december 2015 . see note 14 to the financial statements for further discussion of the rhode island state energy center sale ; and 2022 lower volume in the entergy wholesale commodities nuclear fleet resulting from more refueling outage days in 2016 as compared to 2015 and larger exercise of resupply options in 2016 as compared to 2015 . see 201cnuclear matters - indian point 201d below for discussion of the extended indian point 2 outage in the second quarter entergy corporation and subsidiaries management 2019s financial discussion and analysis .

2,017

26

ETR

Entergy

Utilities

Electric Utilities

New Orleans, Louisiana

1957-03-04

65,984

1913

what is the net change in net revenue during 2016?

-124

subtract(1542, 1666)

amortized over a nine-year period beginning december 2015 . see note 2 to the financial statements for further discussion of the business combination and customer credits . the volume/weather variance is primarily due to the effect of more favorable weather during the unbilled period and an increase in industrial usage , partially offset by the effect of less favorable weather on residential sales . the increase in industrial usage is primarily due to expansion projects , primarily in the chemicals industry , and increased demand from new customers , primarily in the industrial gases industry . the louisiana act 55 financing savings obligation variance results from a regulatory charge for tax savings to be shared with customers per an agreement approved by the lpsc . the tax savings resulted from the 2010-2011 irs audit settlement on the treatment of the louisiana act 55 financing of storm costs for hurricane gustav and hurricane ike . see note 3 to the financial statements for additional discussion of the settlement and benefit sharing . included in other is a provision of $ 23 million recorded in 2016 related to the settlement of the waterford 3 replacement steam generator prudence review proceeding , offset by a provision of $ 32 million recorded in 2015 related to the uncertainty at that time associated with the resolution of the waterford 3 replacement steam generator prudence review proceeding . a0 see note 2 to the financial statements for a discussion of the waterford 3 replacement steam generator prudence review proceeding . entergy wholesale commodities following is an analysis of the change in net revenue comparing 2016 to 2015 . amount ( in millions ) .

as shown in the table above , net revenue for entergy wholesale commodities decreased by approximately $ 124 million in 2016 primarily due to : 2022 lower realized wholesale energy prices and lower capacity prices , the amortization of the palisades below- market ppa , and vermont yankee capacity revenue . the effect of the amortization of the palisades below- market ppa and vermont yankee capacity revenue on the net revenue variance from 2015 to 2016 is minimal ; 2022 the sale of the rhode island state energy center in december 2015 . see note 14 to the financial statements for further discussion of the rhode island state energy center sale ; and 2022 lower volume in the entergy wholesale commodities nuclear fleet resulting from more refueling outage days in 2016 as compared to 2015 and larger exercise of resupply options in 2016 as compared to 2015 . see 201cnuclear matters - indian point 201d below for discussion of the extended indian point 2 outage in the second quarter entergy corporation and subsidiaries management 2019s financial discussion and analysis .

| | | amount ( in millions ) | |---:|:------------------------------------|:-------------------------| | 0 | 2015 net revenue | $ 1666 | | 1 | nuclear realized price changes | -149 ( 149 ) | | 2 | rhode island state energy center | -44 ( 44 ) | | 3 | nuclear volume | -36 ( 36 ) | | 4 | fitzpatrick reimbursement agreement | 41 | | 5 | nuclear fuel expenses | 68 | | 6 | other | -4 ( 4 ) | | 7 | 2016 net revenue | $ 1542 |

amortized over a nine-year period beginning december 2015 . see note 2 to the financial statements for further discussion of the business combination and customer credits . the volume/weather variance is primarily due to the effect of more favorable weather during the unbilled period and an increase in industrial usage , partially offset by the effect of less favorable weather on residential sales . the increase in industrial usage is primarily due to expansion projects , primarily in the chemicals industry , and increased demand from new customers , primarily in the industrial gases industry . the louisiana act 55 financing savings obligation variance results from a regulatory charge for tax savings to be shared with customers per an agreement approved by the lpsc . the tax savings resulted from the 2010-2011 irs audit settlement on the treatment of the louisiana act 55 financing of storm costs for hurricane gustav and hurricane ike . see note 3 to the financial statements for additional discussion of the settlement and benefit sharing . included in other is a provision of $ 23 million recorded in 2016 related to the settlement of the waterford 3 replacement steam generator prudence review proceeding , offset by a provision of $ 32 million recorded in 2015 related to the uncertainty at that time associated with the resolution of the waterford 3 replacement steam generator prudence review proceeding . a0 see note 2 to the financial statements for a discussion of the waterford 3 replacement steam generator prudence review proceeding . entergy wholesale commodities following is an analysis of the change in net revenue comparing 2016 to 2015 . amount ( in millions ) ._| | | amount ( in millions ) | |---:|:------------------------------------|:-------------------------| | 0 | 2015 net revenue | $ 1666 | | 1 | nuclear realized price changes | -149 ( 149 ) | | 2 | rhode island state energy center | -44 ( 44 ) | | 3 | nuclear volume | -36 ( 36 ) | | 4 | fitzpatrick reimbursement agreement | 41 | | 5 | nuclear fuel expenses | 68 | | 6 | other | -4 ( 4 ) | | 7 | 2016 net revenue | $ 1542 |_as shown in the table above , net revenue for entergy wholesale commodities decreased by approximately $ 124 million in 2016 primarily due to : 2022 lower realized wholesale energy prices and lower capacity prices , the amortization of the palisades below- market ppa , and vermont yankee capacity revenue . the effect of the amortization of the palisades below- market ppa and vermont yankee capacity revenue on the net revenue variance from 2015 to 2016 is minimal ; 2022 the sale of the rhode island state energy center in december 2015 . see note 14 to the financial statements for further discussion of the rhode island state energy center sale ; and 2022 lower volume in the entergy wholesale commodities nuclear fleet resulting from more refueling outage days in 2016 as compared to 2015 and larger exercise of resupply options in 2016 as compared to 2015 . see 201cnuclear matters - indian point 201d below for discussion of the extended indian point 2 outage in the second quarter entergy corporation and subsidiaries management 2019s financial discussion and analysis .

2,017

26

ETR

Entergy

Utilities

Electric Utilities

New Orleans, Louisiana

1957-03-04

65,984

1913

null

finqa219

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

4.6%

divide(58000, 1262000)

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

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

4.6%

divide(58000, 1262000)

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

finqa220

in 2019 what was the percent of the financing structure that was based on the equity

44.4%

subtract(const_1, 45.6)

debt-related activities certain measures relating to our total debt were as follows: .

( a ) represents shareholders 2019 equity , net non-current deferred income tax liabilities , and debt . the decrease in short-term debt as a percentage of total debt at september 30 , 2019 was primarily driven by the payment of certain short-term notes as well as the issuance of long-term notes in 2019 . the increase in short-term debt as a percentage of total debt at september 30 , 2018 was primarily driven by the reclassification of certain notes from long-term to short-term . additional disclosures regarding our debt instruments are provided in note 16 to the consolidated financial statements contained in item 8 . financial statements and supplementary data . cash and short-term investments at september 30 , 2019 , total worldwide cash and short-term investments were $ 620 million , including restricted cash , which was primarily held in jurisdictions outside of the united states . financing facilities in may 2017 , we entered into a five-year senior unsecured revolving credit facility which provides borrowing of up to $ 2.25 billion . this facility will expire in december 2022 . we are able to issue up to $ 100 million in letters of credit under this new revolving credit facility and it also includes a provision that enables bd , subject to additional commitments made by the lenders , to access up to an additional $ 500 million in financing through the facility for a maximum aggregate commitment of $ 2.75 billion . we use proceeds from this facility to fund general corporate needs . borrowings outstanding under the revolving credit facility at september 30 , 2019 were $ 485 million . the agreement for our revolving credit facility contained the following financial covenants . we were in compliance with these covenants as of september 30 , 2019 . 2022 we are required to maintain an interest expense coverage ratio of not less than 4-to-1 as of the last day of each fiscal quarter . 2022 we are required to have a leverage coverage ratio of no more than : 25e6 6-to-1 from the closing date of the bard acquisition until and including the first fiscal quarter- end thereafter ; 25e6 5.75-to-1 for the subsequent four fiscal quarters thereafter ; 25e6 5.25-to-1 for the subsequent four fiscal quarters thereafter ; 25e6 4.5-to-1 for the subsequent four fiscal quarters thereafter ; 25e6 4-to-1 for the subsequent four fiscal quarters thereafter ; 25e6 3.75-to-1 thereafter . we also have informal lines of credit outside the united states . during the fourth quarter of 2019 , the company fully repaid its borrowings outstanding on a 364-day senior unsecured term loan facility that the company entered in september 2018 . the company had no commercial paper borrowings outstanding as of september 30 , 2019 . we may , from time to time , sell certain trade receivable assets to third parties as we manage working capital over the normal course of our business activities. .

| | | 2019 | 2018 | 2017 | |---:|:--------------------------------------------------|:-----------------|:-----------------|:-----------------| | 0 | total debt ( millions of dollars ) | $ 19390 | $ 21496 | $ 18870 | | 1 | short-term debt as a percentage of total debt | 6.8% ( 6.8 % ) | 12.1% ( 12.1 % ) | 1.1% ( 1.1 % ) | | 2 | weighted average cost of total debt | 2.9% ( 2.9 % ) | 3.2% ( 3.2 % ) | 3.3% ( 3.3 % ) | | 3 | total debt as a percentage of total capital ( a ) | 45.6% ( 45.6 % ) | 47.8% ( 47.8 % ) | 57.5% ( 57.5 % ) |

debt-related activities certain measures relating to our total debt were as follows: ._| | | 2019 | 2018 | 2017 | |---:|:--------------------------------------------------|:-----------------|:-----------------|:-----------------| | 0 | total debt ( millions of dollars ) | $ 19390 | $ 21496 | $ 18870 | | 1 | short-term debt as a percentage of total debt | 6.8% ( 6.8 % ) | 12.1% ( 12.1 % ) | 1.1% ( 1.1 % ) | | 2 | weighted average cost of total debt | 2.9% ( 2.9 % ) | 3.2% ( 3.2 % ) | 3.3% ( 3.3 % ) | | 3 | total debt as a percentage of total capital ( a ) | 45.6% ( 45.6 % ) | 47.8% ( 47.8 % ) | 57.5% ( 57.5 % ) |_( a ) represents shareholders 2019 equity , net non-current deferred income tax liabilities , and debt . the decrease in short-term debt as a percentage of total debt at september 30 , 2019 was primarily driven by the payment of certain short-term notes as well as the issuance of long-term notes in 2019 . the increase in short-term debt as a percentage of total debt at september 30 , 2018 was primarily driven by the reclassification of certain notes from long-term to short-term . additional disclosures regarding our debt instruments are provided in note 16 to the consolidated financial statements contained in item 8 . financial statements and supplementary data . cash and short-term investments at september 30 , 2019 , total worldwide cash and short-term investments were $ 620 million , including restricted cash , which was primarily held in jurisdictions outside of the united states . financing facilities in may 2017 , we entered into a five-year senior unsecured revolving credit facility which provides borrowing of up to $ 2.25 billion . this facility will expire in december 2022 . we are able to issue up to $ 100 million in letters of credit under this new revolving credit facility and it also includes a provision that enables bd , subject to additional commitments made by the lenders , to access up to an additional $ 500 million in financing through the facility for a maximum aggregate commitment of $ 2.75 billion . we use proceeds from this facility to fund general corporate needs . borrowings outstanding under the revolving credit facility at september 30 , 2019 were $ 485 million . the agreement for our revolving credit facility contained the following financial covenants . we were in compliance with these covenants as of september 30 , 2019 . 2022 we are required to maintain an interest expense coverage ratio of not less than 4-to-1 as of the last day of each fiscal quarter . 2022 we are required to have a leverage coverage ratio of no more than : 25e6 6-to-1 from the closing date of the bard acquisition until and including the first fiscal quarter- end thereafter ; 25e6 5.75-to-1 for the subsequent four fiscal quarters thereafter ; 25e6 5.25-to-1 for the subsequent four fiscal quarters thereafter ; 25e6 4.5-to-1 for the subsequent four fiscal quarters thereafter ; 25e6 4-to-1 for the subsequent four fiscal quarters thereafter ; 25e6 3.75-to-1 thereafter . we also have informal lines of credit outside the united states . during the fourth quarter of 2019 , the company fully repaid its borrowings outstanding on a 364-day senior unsecured term loan facility that the company entered in september 2018 . the company had no commercial paper borrowings outstanding as of september 30 , 2019 . we may , from time to time , sell certain trade receivable assets to third parties as we manage working capital over the normal course of our business activities. .

2,019

45

BDX

Becton Dickinson

Health Care

Health Care Equipment

Franklin Lakes, New Jersey

1972-09-30

10,795

1897

in 2019 what was the percent of the financing structure that was based on the equity

44.4%

subtract(const_1, 45.6)

debt-related activities certain measures relating to our total debt were as follows: .

( a ) represents shareholders 2019 equity , net non-current deferred income tax liabilities , and debt . the decrease in short-term debt as a percentage of total debt at september 30 , 2019 was primarily driven by the payment of certain short-term notes as well as the issuance of long-term notes in 2019 . the increase in short-term debt as a percentage of total debt at september 30 , 2018 was primarily driven by the reclassification of certain notes from long-term to short-term . additional disclosures regarding our debt instruments are provided in note 16 to the consolidated financial statements contained in item 8 . financial statements and supplementary data . cash and short-term investments at september 30 , 2019 , total worldwide cash and short-term investments were $ 620 million , including restricted cash , which was primarily held in jurisdictions outside of the united states . financing facilities in may 2017 , we entered into a five-year senior unsecured revolving credit facility which provides borrowing of up to $ 2.25 billion . this facility will expire in december 2022 . we are able to issue up to $ 100 million in letters of credit under this new revolving credit facility and it also includes a provision that enables bd , subject to additional commitments made by the lenders , to access up to an additional $ 500 million in financing through the facility for a maximum aggregate commitment of $ 2.75 billion . we use proceeds from this facility to fund general corporate needs . borrowings outstanding under the revolving credit facility at september 30 , 2019 were $ 485 million . the agreement for our revolving credit facility contained the following financial covenants . we were in compliance with these covenants as of september 30 , 2019 . 2022 we are required to maintain an interest expense coverage ratio of not less than 4-to-1 as of the last day of each fiscal quarter . 2022 we are required to have a leverage coverage ratio of no more than : 25e6 6-to-1 from the closing date of the bard acquisition until and including the first fiscal quarter- end thereafter ; 25e6 5.75-to-1 for the subsequent four fiscal quarters thereafter ; 25e6 5.25-to-1 for the subsequent four fiscal quarters thereafter ; 25e6 4.5-to-1 for the subsequent four fiscal quarters thereafter ; 25e6 4-to-1 for the subsequent four fiscal quarters thereafter ; 25e6 3.75-to-1 thereafter . we also have informal lines of credit outside the united states . during the fourth quarter of 2019 , the company fully repaid its borrowings outstanding on a 364-day senior unsecured term loan facility that the company entered in september 2018 . the company had no commercial paper borrowings outstanding as of september 30 , 2019 . we may , from time to time , sell certain trade receivable assets to third parties as we manage working capital over the normal course of our business activities. .

| | | 2019 | 2018 | 2017 | |---:|:--------------------------------------------------|:-----------------|:-----------------|:-----------------| | 0 | total debt ( millions of dollars ) | $ 19390 | $ 21496 | $ 18870 | | 1 | short-term debt as a percentage of total debt | 6.8% ( 6.8 % ) | 12.1% ( 12.1 % ) | 1.1% ( 1.1 % ) | | 2 | weighted average cost of total debt | 2.9% ( 2.9 % ) | 3.2% ( 3.2 % ) | 3.3% ( 3.3 % ) | | 3 | total debt as a percentage of total capital ( a ) | 45.6% ( 45.6 % ) | 47.8% ( 47.8 % ) | 57.5% ( 57.5 % ) |

debt-related activities certain measures relating to our total debt were as follows: ._| | | 2019 | 2018 | 2017 | |---:|:--------------------------------------------------|:-----------------|:-----------------|:-----------------| | 0 | total debt ( millions of dollars ) | $ 19390 | $ 21496 | $ 18870 | | 1 | short-term debt as a percentage of total debt | 6.8% ( 6.8 % ) | 12.1% ( 12.1 % ) | 1.1% ( 1.1 % ) | | 2 | weighted average cost of total debt | 2.9% ( 2.9 % ) | 3.2% ( 3.2 % ) | 3.3% ( 3.3 % ) | | 3 | total debt as a percentage of total capital ( a ) | 45.6% ( 45.6 % ) | 47.8% ( 47.8 % ) | 57.5% ( 57.5 % ) |_( a ) represents shareholders 2019 equity , net non-current deferred income tax liabilities , and debt . the decrease in short-term debt as a percentage of total debt at september 30 , 2019 was primarily driven by the payment of certain short-term notes as well as the issuance of long-term notes in 2019 . the increase in short-term debt as a percentage of total debt at september 30 , 2018 was primarily driven by the reclassification of certain notes from long-term to short-term . additional disclosures regarding our debt instruments are provided in note 16 to the consolidated financial statements contained in item 8 . financial statements and supplementary data . cash and short-term investments at september 30 , 2019 , total worldwide cash and short-term investments were $ 620 million , including restricted cash , which was primarily held in jurisdictions outside of the united states . financing facilities in may 2017 , we entered into a five-year senior unsecured revolving credit facility which provides borrowing of up to $ 2.25 billion . this facility will expire in december 2022 . we are able to issue up to $ 100 million in letters of credit under this new revolving credit facility and it also includes a provision that enables bd , subject to additional commitments made by the lenders , to access up to an additional $ 500 million in financing through the facility for a maximum aggregate commitment of $ 2.75 billion . we use proceeds from this facility to fund general corporate needs . borrowings outstanding under the revolving credit facility at september 30 , 2019 were $ 485 million . the agreement for our revolving credit facility contained the following financial covenants . we were in compliance with these covenants as of september 30 , 2019 . 2022 we are required to maintain an interest expense coverage ratio of not less than 4-to-1 as of the last day of each fiscal quarter . 2022 we are required to have a leverage coverage ratio of no more than : 25e6 6-to-1 from the closing date of the bard acquisition until and including the first fiscal quarter- end thereafter ; 25e6 5.75-to-1 for the subsequent four fiscal quarters thereafter ; 25e6 5.25-to-1 for the subsequent four fiscal quarters thereafter ; 25e6 4.5-to-1 for the subsequent four fiscal quarters thereafter ; 25e6 4-to-1 for the subsequent four fiscal quarters thereafter ; 25e6 3.75-to-1 thereafter . we also have informal lines of credit outside the united states . during the fourth quarter of 2019 , the company fully repaid its borrowings outstanding on a 364-day senior unsecured term loan facility that the company entered in september 2018 . the company had no commercial paper borrowings outstanding as of september 30 , 2019 . we may , from time to time , sell certain trade receivable assets to third parties as we manage working capital over the normal course of our business activities. .

2,019

45

BDX

Becton Dickinson

Health Care

Health Care Equipment

Franklin Lakes, New Jersey

1972-09-30

10,795

1897

null

finqa221

in 2013 what was the percent of the total operating revenues from mexico

9.6%

divide(2.1, 21963)

notes to the consolidated financial statements union pacific corporation and subsidiary companies for purposes of this report , unless the context otherwise requires , all references herein to the 201ccorporation 201d , 201ccompany 201d , 201cupc 201d , 201cwe 201d , 201cus 201d , and 201cour 201d mean union pacific corporation and its subsidiaries , including union pacific railroad company , which will be separately referred to herein as 201cuprr 201d or the 201crailroad 201d . 1 . nature of operations operations and segmentation 2013 we are a class i railroad operating in the u.s . our network includes 31838 route miles , linking pacific coast and gulf coast ports with the midwest and eastern u.s . gateways and providing several corridors to key mexican gateways . we own 26009 miles and operate on the remainder pursuant to trackage rights or leases . we serve the western two-thirds of the country and maintain coordinated schedules with other rail carriers for the handling of freight to and from the atlantic coast , the pacific coast , the southeast , the southwest , canada , and mexico . export and import traffic is moved through gulf coast and pacific coast ports and across the mexican and canadian borders . the railroad , along with its subsidiaries and rail affiliates , is our one reportable operating segment . although we provide and review revenue by commodity group , we analyze the net financial results of the railroad as one segment due to the integrated nature of our rail network . the following table provides freight revenue by commodity group : millions 2013 2012 2011 .

although our revenues are principally derived from customers domiciled in the u.s. , the ultimate points of origination or destination for some products transported by us are outside the u.s . each of our commodity groups includes revenue from shipments to and from mexico . included in the above table are revenues from our mexico business which amounted to $ 2.1 billion in 2013 , $ 1.9 billion in 2012 , and $ 1.8 billion in 2011 . basis of presentation 2013 the consolidated financial statements are presented in accordance with accounting principles generally accepted in the u.s . ( gaap ) as codified in the financial accounting standards board ( fasb ) accounting standards codification ( asc ) . 2 . significant accounting policies principles of consolidation 2013 the consolidated financial statements include the accounts of union pacific corporation and all of its subsidiaries . investments in affiliated companies ( 20% ( 20 % ) to 50% ( 50 % ) owned ) are accounted for using the equity method of accounting . all intercompany transactions are eliminated . we currently have no less than majority-owned investments that require consolidation under variable interest entity requirements . cash and cash equivalents 2013 cash equivalents consist of investments with original maturities of three months or less . accounts receivable 2013 accounts receivable includes receivables reduced by an allowance for doubtful accounts . the allowance is based upon historical losses , credit worthiness of customers , and current economic conditions . receivables not expected to be collected in one year and the associated allowances are classified as other assets in our consolidated statements of financial position. .

| | millions | 2013 | 2012 | 2011 | |---:|:------------------------|:--------|:--------|:--------| | 0 | agricultural | $ 3276 | $ 3280 | $ 3324 | | 1 | automotive | 2077 | 1807 | 1510 | | 2 | chemicals | 3501 | 3238 | 2815 | | 3 | coal | 3978 | 3912 | 4084 | | 4 | industrial products | 3822 | 3494 | 3166 | | 5 | intermodal | 4030 | 3955 | 3609 | | 6 | total freight revenues | $ 20684 | $ 19686 | $ 18508 | | 7 | other revenues | 1279 | 1240 | 1049 | | 8 | total operatingrevenues | $ 21963 | $ 20926 | $ 19557 |

notes to the consolidated financial statements union pacific corporation and subsidiary companies for purposes of this report , unless the context otherwise requires , all references herein to the 201ccorporation 201d , 201ccompany 201d , 201cupc 201d , 201cwe 201d , 201cus 201d , and 201cour 201d mean union pacific corporation and its subsidiaries , including union pacific railroad company , which will be separately referred to herein as 201cuprr 201d or the 201crailroad 201d . 1 . nature of operations operations and segmentation 2013 we are a class i railroad operating in the u.s . our network includes 31838 route miles , linking pacific coast and gulf coast ports with the midwest and eastern u.s . gateways and providing several corridors to key mexican gateways . we own 26009 miles and operate on the remainder pursuant to trackage rights or leases . we serve the western two-thirds of the country and maintain coordinated schedules with other rail carriers for the handling of freight to and from the atlantic coast , the pacific coast , the southeast , the southwest , canada , and mexico . export and import traffic is moved through gulf coast and pacific coast ports and across the mexican and canadian borders . the railroad , along with its subsidiaries and rail affiliates , is our one reportable operating segment . although we provide and review revenue by commodity group , we analyze the net financial results of the railroad as one segment due to the integrated nature of our rail network . the following table provides freight revenue by commodity group : millions 2013 2012 2011 ._| | millions | 2013 | 2012 | 2011 | |---:|:------------------------|:--------|:--------|:--------| | 0 | agricultural | $ 3276 | $ 3280 | $ 3324 | | 1 | automotive | 2077 | 1807 | 1510 | | 2 | chemicals | 3501 | 3238 | 2815 | | 3 | coal | 3978 | 3912 | 4084 | | 4 | industrial products | 3822 | 3494 | 3166 | | 5 | intermodal | 4030 | 3955 | 3609 | | 6 | total freight revenues | $ 20684 | $ 19686 | $ 18508 | | 7 | other revenues | 1279 | 1240 | 1049 | | 8 | total operatingrevenues | $ 21963 | $ 20926 | $ 19557 |_although our revenues are principally derived from customers domiciled in the u.s. , the ultimate points of origination or destination for some products transported by us are outside the u.s . each of our commodity groups includes revenue from shipments to and from mexico . included in the above table are revenues from our mexico business which amounted to $ 2.1 billion in 2013 , $ 1.9 billion in 2012 , and $ 1.8 billion in 2011 . basis of presentation 2013 the consolidated financial statements are presented in accordance with accounting principles generally accepted in the u.s . ( gaap ) as codified in the financial accounting standards board ( fasb ) accounting standards codification ( asc ) . 2 . significant accounting policies principles of consolidation 2013 the consolidated financial statements include the accounts of union pacific corporation and all of its subsidiaries . investments in affiliated companies ( 20% ( 20 % ) to 50% ( 50 % ) owned ) are accounted for using the equity method of accounting . all intercompany transactions are eliminated . we currently have no less than majority-owned investments that require consolidation under variable interest entity requirements . cash and cash equivalents 2013 cash equivalents consist of investments with original maturities of three months or less . accounts receivable 2013 accounts receivable includes receivables reduced by an allowance for doubtful accounts . the allowance is based upon historical losses , credit worthiness of customers , and current economic conditions . receivables not expected to be collected in one year and the associated allowances are classified as other assets in our consolidated statements of financial position. .

2,013

54

UNP

Union Pacific Corporation

Industrials

Rail Transportation

Omaha, Nebraska

1957-03-04

100,885

1862

in 2013 what was the percent of the total operating revenues from mexico

9.6%

divide(2.1, 21963)

notes to the consolidated financial statements union pacific corporation and subsidiary companies for purposes of this report , unless the context otherwise requires , all references herein to the 201ccorporation 201d , 201ccompany 201d , 201cupc 201d , 201cwe 201d , 201cus 201d , and 201cour 201d mean union pacific corporation and its subsidiaries , including union pacific railroad company , which will be separately referred to herein as 201cuprr 201d or the 201crailroad 201d . 1 . nature of operations operations and segmentation 2013 we are a class i railroad operating in the u.s . our network includes 31838 route miles , linking pacific coast and gulf coast ports with the midwest and eastern u.s . gateways and providing several corridors to key mexican gateways . we own 26009 miles and operate on the remainder pursuant to trackage rights or leases . we serve the western two-thirds of the country and maintain coordinated schedules with other rail carriers for the handling of freight to and from the atlantic coast , the pacific coast , the southeast , the southwest , canada , and mexico . export and import traffic is moved through gulf coast and pacific coast ports and across the mexican and canadian borders . the railroad , along with its subsidiaries and rail affiliates , is our one reportable operating segment . although we provide and review revenue by commodity group , we analyze the net financial results of the railroad as one segment due to the integrated nature of our rail network . the following table provides freight revenue by commodity group : millions 2013 2012 2011 .

although our revenues are principally derived from customers domiciled in the u.s. , the ultimate points of origination or destination for some products transported by us are outside the u.s . each of our commodity groups includes revenue from shipments to and from mexico . included in the above table are revenues from our mexico business which amounted to $ 2.1 billion in 2013 , $ 1.9 billion in 2012 , and $ 1.8 billion in 2011 . basis of presentation 2013 the consolidated financial statements are presented in accordance with accounting principles generally accepted in the u.s . ( gaap ) as codified in the financial accounting standards board ( fasb ) accounting standards codification ( asc ) . 2 . significant accounting policies principles of consolidation 2013 the consolidated financial statements include the accounts of union pacific corporation and all of its subsidiaries . investments in affiliated companies ( 20% ( 20 % ) to 50% ( 50 % ) owned ) are accounted for using the equity method of accounting . all intercompany transactions are eliminated . we currently have no less than majority-owned investments that require consolidation under variable interest entity requirements . cash and cash equivalents 2013 cash equivalents consist of investments with original maturities of three months or less . accounts receivable 2013 accounts receivable includes receivables reduced by an allowance for doubtful accounts . the allowance is based upon historical losses , credit worthiness of customers , and current economic conditions . receivables not expected to be collected in one year and the associated allowances are classified as other assets in our consolidated statements of financial position. .

| | millions | 2013 | 2012 | 2011 | |---:|:------------------------|:--------|:--------|:--------| | 0 | agricultural | $ 3276 | $ 3280 | $ 3324 | | 1 | automotive | 2077 | 1807 | 1510 | | 2 | chemicals | 3501 | 3238 | 2815 | | 3 | coal | 3978 | 3912 | 4084 | | 4 | industrial products | 3822 | 3494 | 3166 | | 5 | intermodal | 4030 | 3955 | 3609 | | 6 | total freight revenues | $ 20684 | $ 19686 | $ 18508 | | 7 | other revenues | 1279 | 1240 | 1049 | | 8 | total operatingrevenues | $ 21963 | $ 20926 | $ 19557 |

notes to the consolidated financial statements union pacific corporation and subsidiary companies for purposes of this report , unless the context otherwise requires , all references herein to the 201ccorporation 201d , 201ccompany 201d , 201cupc 201d , 201cwe 201d , 201cus 201d , and 201cour 201d mean union pacific corporation and its subsidiaries , including union pacific railroad company , which will be separately referred to herein as 201cuprr 201d or the 201crailroad 201d . 1 . nature of operations operations and segmentation 2013 we are a class i railroad operating in the u.s . our network includes 31838 route miles , linking pacific coast and gulf coast ports with the midwest and eastern u.s . gateways and providing several corridors to key mexican gateways . we own 26009 miles and operate on the remainder pursuant to trackage rights or leases . we serve the western two-thirds of the country and maintain coordinated schedules with other rail carriers for the handling of freight to and from the atlantic coast , the pacific coast , the southeast , the southwest , canada , and mexico . export and import traffic is moved through gulf coast and pacific coast ports and across the mexican and canadian borders . the railroad , along with its subsidiaries and rail affiliates , is our one reportable operating segment . although we provide and review revenue by commodity group , we analyze the net financial results of the railroad as one segment due to the integrated nature of our rail network . the following table provides freight revenue by commodity group : millions 2013 2012 2011 ._| | millions | 2013 | 2012 | 2011 | |---:|:------------------------|:--------|:--------|:--------| | 0 | agricultural | $ 3276 | $ 3280 | $ 3324 | | 1 | automotive | 2077 | 1807 | 1510 | | 2 | chemicals | 3501 | 3238 | 2815 | | 3 | coal | 3978 | 3912 | 4084 | | 4 | industrial products | 3822 | 3494 | 3166 | | 5 | intermodal | 4030 | 3955 | 3609 | | 6 | total freight revenues | $ 20684 | $ 19686 | $ 18508 | | 7 | other revenues | 1279 | 1240 | 1049 | | 8 | total operatingrevenues | $ 21963 | $ 20926 | $ 19557 |_although our revenues are principally derived from customers domiciled in the u.s. , the ultimate points of origination or destination for some products transported by us are outside the u.s . each of our commodity groups includes revenue from shipments to and from mexico . included in the above table are revenues from our mexico business which amounted to $ 2.1 billion in 2013 , $ 1.9 billion in 2012 , and $ 1.8 billion in 2011 . basis of presentation 2013 the consolidated financial statements are presented in accordance with accounting principles generally accepted in the u.s . ( gaap ) as codified in the financial accounting standards board ( fasb ) accounting standards codification ( asc ) . 2 . significant accounting policies principles of consolidation 2013 the consolidated financial statements include the accounts of union pacific corporation and all of its subsidiaries . investments in affiliated companies ( 20% ( 20 % ) to 50% ( 50 % ) owned ) are accounted for using the equity method of accounting . all intercompany transactions are eliminated . we currently have no less than majority-owned investments that require consolidation under variable interest entity requirements . cash and cash equivalents 2013 cash equivalents consist of investments with original maturities of three months or less . accounts receivable 2013 accounts receivable includes receivables reduced by an allowance for doubtful accounts . the allowance is based upon historical losses , credit worthiness of customers , and current economic conditions . receivables not expected to be collected in one year and the associated allowances are classified as other assets in our consolidated statements of financial position. .

2,013

54

UNP

Union Pacific Corporation

Industrials

Rail Transportation

Omaha, Nebraska

1957-03-04

100,885

1862

null

finqa222

what was the net effect of the one-percentage point increase and decrease on total service and interest cost components

null

add(7367, -5974)

coupons and expected maturity values of individually selected bonds . the yield curve was developed for a universe containing the majority of u.s.-issued aa-graded corporate bonds , all of which were non callable ( or callable with make-whole provisions ) . historically , for each plan , the discount rate was developed as the level equivalent rate that would produce the same present value as that using spot rates aligned with the projected benefit payments . the expected long-term rate of return on plan assets is based on historical and projected rates of return , prior to administrative and investment management fees , for current and planned asset classes in the plans 2019 investment portfolios . assumed projected rates of return for each of the plans 2019 projected asset classes were selected after analyzing historical experience and future expectations of the returns and volatility of the various asset classes . based on the target asset allocation for each asset class , the overall expected rate of return for the portfolio was developed , adjusted for historical and expected experience of active portfolio management results compared to the benchmark returns and for the effect of expenses paid from plan assets . the company 2019s pension expense increases as the expected return on assets decreases . assumed health care cost trend rates have a significant effect on the amounts reported for the other postretirement benefit plans . the health care cost trend rate is based on historical rates and expected market conditions . a one-percentage-point change in assumed health care cost trend rates would have the following effects : percentage- increase percentage- decrease .

.

| | | one-percentage-pointincrease | one-percentage-pointdecrease | |---:|:--------------------------------------------------------|:-------------------------------|:-------------------------------| | 0 | effect on total of service and interest cost components | $ 7367 | $ -5974 ( 5974 ) | | 1 | effect on other postretirement benefit obligation | $ 72238 | $ -60261 ( 60261 ) |

coupons and expected maturity values of individually selected bonds . the yield curve was developed for a universe containing the majority of u.s.-issued aa-graded corporate bonds , all of which were non callable ( or callable with make-whole provisions ) . historically , for each plan , the discount rate was developed as the level equivalent rate that would produce the same present value as that using spot rates aligned with the projected benefit payments . the expected long-term rate of return on plan assets is based on historical and projected rates of return , prior to administrative and investment management fees , for current and planned asset classes in the plans 2019 investment portfolios . assumed projected rates of return for each of the plans 2019 projected asset classes were selected after analyzing historical experience and future expectations of the returns and volatility of the various asset classes . based on the target asset allocation for each asset class , the overall expected rate of return for the portfolio was developed , adjusted for historical and expected experience of active portfolio management results compared to the benchmark returns and for the effect of expenses paid from plan assets . the company 2019s pension expense increases as the expected return on assets decreases . assumed health care cost trend rates have a significant effect on the amounts reported for the other postretirement benefit plans . the health care cost trend rate is based on historical rates and expected market conditions . a one-percentage-point change in assumed health care cost trend rates would have the following effects : percentage- increase percentage- decrease ._| | | one-percentage-pointincrease | one-percentage-pointdecrease | |---:|:--------------------------------------------------------|:-------------------------------|:-------------------------------| | 0 | effect on total of service and interest cost components | $ 7367 | $ -5974 ( 5974 ) | | 1 | effect on other postretirement benefit obligation | $ 72238 | $ -60261 ( 60261 ) |_.

2,013

132

AWK

American Water Works

Utilities

Water Utilities

Camden, New Jersey

2016-03-04

1,410,636

1886

what was the net effect of the one-percentage point increase and decrease on total service and interest cost components

null

add(7367, -5974)

coupons and expected maturity values of individually selected bonds . the yield curve was developed for a universe containing the majority of u.s.-issued aa-graded corporate bonds , all of which were non callable ( or callable with make-whole provisions ) . historically , for each plan , the discount rate was developed as the level equivalent rate that would produce the same present value as that using spot rates aligned with the projected benefit payments . the expected long-term rate of return on plan assets is based on historical and projected rates of return , prior to administrative and investment management fees , for current and planned asset classes in the plans 2019 investment portfolios . assumed projected rates of return for each of the plans 2019 projected asset classes were selected after analyzing historical experience and future expectations of the returns and volatility of the various asset classes . based on the target asset allocation for each asset class , the overall expected rate of return for the portfolio was developed , adjusted for historical and expected experience of active portfolio management results compared to the benchmark returns and for the effect of expenses paid from plan assets . the company 2019s pension expense increases as the expected return on assets decreases . assumed health care cost trend rates have a significant effect on the amounts reported for the other postretirement benefit plans . the health care cost trend rate is based on historical rates and expected market conditions . a one-percentage-point change in assumed health care cost trend rates would have the following effects : percentage- increase percentage- decrease .

.

| | | one-percentage-pointincrease | one-percentage-pointdecrease | |---:|:--------------------------------------------------------|:-------------------------------|:-------------------------------| | 0 | effect on total of service and interest cost components | $ 7367 | $ -5974 ( 5974 ) | | 1 | effect on other postretirement benefit obligation | $ 72238 | $ -60261 ( 60261 ) |

coupons and expected maturity values of individually selected bonds . the yield curve was developed for a universe containing the majority of u.s.-issued aa-graded corporate bonds , all of which were non callable ( or callable with make-whole provisions ) . historically , for each plan , the discount rate was developed as the level equivalent rate that would produce the same present value as that using spot rates aligned with the projected benefit payments . the expected long-term rate of return on plan assets is based on historical and projected rates of return , prior to administrative and investment management fees , for current and planned asset classes in the plans 2019 investment portfolios . assumed projected rates of return for each of the plans 2019 projected asset classes were selected after analyzing historical experience and future expectations of the returns and volatility of the various asset classes . based on the target asset allocation for each asset class , the overall expected rate of return for the portfolio was developed , adjusted for historical and expected experience of active portfolio management results compared to the benchmark returns and for the effect of expenses paid from plan assets . the company 2019s pension expense increases as the expected return on assets decreases . assumed health care cost trend rates have a significant effect on the amounts reported for the other postretirement benefit plans . the health care cost trend rate is based on historical rates and expected market conditions . a one-percentage-point change in assumed health care cost trend rates would have the following effects : percentage- increase percentage- decrease ._| | | one-percentage-pointincrease | one-percentage-pointdecrease | |---:|:--------------------------------------------------------|:-------------------------------|:-------------------------------| | 0 | effect on total of service and interest cost components | $ 7367 | $ -5974 ( 5974 ) | | 1 | effect on other postretirement benefit obligation | $ 72238 | $ -60261 ( 60261 ) |_.

2,013

132

AWK

American Water Works

Utilities

Water Utilities

Camden, New Jersey

2016-03-04

1,410,636

1886

null

finqa223

in 2005 what percentage of consumer packaging sales were represented by foodservice net sales?

19%

divide(437, 2245)

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 2005 what percentage of consumer packaging sales were represented by foodservice net sales?

19%

divide(437, 2245)

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

finqa224

what was the percent of the total commitment with an expiration of less that 1 year was subject to renewal

93.3%

divide(2262, 2425)

page 38 five years . the amounts ultimately applied against our offset agreements are based on negotiations with the customer and generally require cash outlays that represent only a fraction of the original amount in the offset agreement . at december 31 , 2005 , we had outstanding offset agreements totaling $ 8.4 bil- lion , primarily related to our aeronautics segment , that extend through 2015 . to the extent we have entered into purchase obligations at december 31 , 2005 that also satisfy offset agree- ments , those amounts are included in the preceding table . we have entered into standby letter of credit agreements and other arrangements with financial institutions and custom- ers mainly relating to advances received from customers and/or the guarantee of future performance on some of our contracts . at december 31 , 2005 , we had outstanding letters of credit , surety bonds and guarantees , as follows : commitment expiration by period ( in millions ) commitment 1 year ( a ) years ( a ) standby letters of credit $ 2630 $ 2425 $ 171 $ 18 $ 16 .

( a ) approximately $ 2262 million and $ 49 million of standby letters of credit in the 201cless than 1 year 201d and 201c1-3 year 201d periods , respectively , and approximately $ 38 million of surety bonds in the 201cless than 1 year 201d period are expected to renew for additional periods until completion of the contractual obligation . included in the table above is approximately $ 200 million representing letter of credit and surety bond amounts for which related obligations or liabilities are also recorded in the bal- ance sheet , either as reductions of inventories , as customer advances and amounts in excess of costs incurred , or as other liabilities . approximately $ 2 billion of the standby letters of credit in the table above were to secure advance payments received under an f-16 contract from an international cus- tomer . these letters of credit are available for draw down in the event of our nonperformance , and the amount available will be reduced as certain events occur throughout the period of performance in accordance with the contract terms . similar to the letters of credit for the f-16 contract , other letters of credit and surety bonds are available for draw down in the event of our nonperformance . at december 31 , 2005 , we had no material off-balance sheet arrangements as those arrangements are defined by the securities and exchange commission ( sec ) . quantitative and qualitative disclosure of market risk our main exposure to market risk relates to interest rates and foreign currency exchange rates . our financial instruments that are subject to interest rate risk principally include fixed- rate and floating rate long-term debt . if interest rates were to change by plus or minus 1% ( 1 % ) , interest expense would increase or decrease by approximately $ 10 million related to our float- ing rate debt . the estimated fair values of the corporation 2019s long-term debt instruments at december 31 , 2005 aggregated approximately $ 6.2 billion , compared with a carrying amount of approximately $ 5.0 billion . the majority of our long-term debt obligations are not callable until maturity . we have used interest rate swaps in the past to manage our exposure to fixed and variable interest rates ; however , at year-end 2005 , we had no such agreements in place . we use forward foreign exchange contracts to manage our exposure to fluctuations in foreign currency exchange rates , and do so in ways that qualify for hedge accounting treatment . these exchange contracts hedge the fluctuations in cash flows associated with firm commitments or specific anticipated transactions contracted in foreign currencies , or hedge the exposure to rate changes affecting foreign currency denomi- nated assets or liabilities . related gains and losses on these contracts , to the extent they are effective hedges , are recog- nized in income at the same time the hedged transaction is recognized or when the hedged asset or liability is adjusted . to the extent the hedges are ineffective , gains and losses on the contracts are recognized in the current period . at december 31 , 2005 , the fair value of forward exchange con- tracts outstanding , as well as the amounts of gains and losses recorded during the year then ended , were not material . we do not hold or issue derivative financial instruments for trad- ing or speculative purposes . recent accounting pronouncements in december 2004 , the fasb issued fas 123 ( r ) , share- based payments , which will impact our net earnings and earn- ings per share and change the classification of certain elements of the statement of cash flows . fas 123 ( r ) requires stock options and other share-based payments made to employees to be accounted for as compensation expense and recorded at fair lockheed martin corporation management 2019s discussion and analysis of financial condition and results of operations december 31 , 2005 .

| | ( in millions ) | commitment expiration by period total commitment | commitment expiration by period less than 1 year ( a ) | commitment expiration by period 1-3 years ( a ) | commitment expiration by period 3-5 years | commitment expiration by period after 5 years | |---:|:--------------------------|:---------------------------------------------------|:---------------------------------------------------------|:--------------------------------------------------|:--------------------------------------------|:------------------------------------------------| | 0 | standby letters of credit | $ 2630 | $ 2425 | $ 171 | $ 18 | $ 16 | | 1 | surety bonds | 434 | 79 | 352 | 3 | 2014 | | 2 | guarantees | 2 | 1 | 1 | 2014 | 2014 | | 3 | total commitments | $ 3066 | $ 2505 | $ 524 | $ 21 | $ 16 |

page 38 five years . the amounts ultimately applied against our offset agreements are based on negotiations with the customer and generally require cash outlays that represent only a fraction of the original amount in the offset agreement . at december 31 , 2005 , we had outstanding offset agreements totaling $ 8.4 bil- lion , primarily related to our aeronautics segment , that extend through 2015 . to the extent we have entered into purchase obligations at december 31 , 2005 that also satisfy offset agree- ments , those amounts are included in the preceding table . we have entered into standby letter of credit agreements and other arrangements with financial institutions and custom- ers mainly relating to advances received from customers and/or the guarantee of future performance on some of our contracts . at december 31 , 2005 , we had outstanding letters of credit , surety bonds and guarantees , as follows : commitment expiration by period ( in millions ) commitment 1 year ( a ) years ( a ) standby letters of credit $ 2630 $ 2425 $ 171 $ 18 $ 16 ._| | ( in millions ) | commitment expiration by period total commitment | commitment expiration by period less than 1 year ( a ) | commitment expiration by period 1-3 years ( a ) | commitment expiration by period 3-5 years | commitment expiration by period after 5 years | |---:|:--------------------------|:---------------------------------------------------|:---------------------------------------------------------|:--------------------------------------------------|:--------------------------------------------|:------------------------------------------------| | 0 | standby letters of credit | $ 2630 | $ 2425 | $ 171 | $ 18 | $ 16 | | 1 | surety bonds | 434 | 79 | 352 | 3 | 2014 | | 2 | guarantees | 2 | 1 | 1 | 2014 | 2014 | | 3 | total commitments | $ 3066 | $ 2505 | $ 524 | $ 21 | $ 16 |_( a ) approximately $ 2262 million and $ 49 million of standby letters of credit in the 201cless than 1 year 201d and 201c1-3 year 201d periods , respectively , and approximately $ 38 million of surety bonds in the 201cless than 1 year 201d period are expected to renew for additional periods until completion of the contractual obligation . included in the table above is approximately $ 200 million representing letter of credit and surety bond amounts for which related obligations or liabilities are also recorded in the bal- ance sheet , either as reductions of inventories , as customer advances and amounts in excess of costs incurred , or as other liabilities . approximately $ 2 billion of the standby letters of credit in the table above were to secure advance payments received under an f-16 contract from an international cus- tomer . these letters of credit are available for draw down in the event of our nonperformance , and the amount available will be reduced as certain events occur throughout the period of performance in accordance with the contract terms . similar to the letters of credit for the f-16 contract , other letters of credit and surety bonds are available for draw down in the event of our nonperformance . at december 31 , 2005 , we had no material off-balance sheet arrangements as those arrangements are defined by the securities and exchange commission ( sec ) . quantitative and qualitative disclosure of market risk our main exposure to market risk relates to interest rates and foreign currency exchange rates . our financial instruments that are subject to interest rate risk principally include fixed- rate and floating rate long-term debt . if interest rates were to change by plus or minus 1% ( 1 % ) , interest expense would increase or decrease by approximately $ 10 million related to our float- ing rate debt . the estimated fair values of the corporation 2019s long-term debt instruments at december 31 , 2005 aggregated approximately $ 6.2 billion , compared with a carrying amount of approximately $ 5.0 billion . the majority of our long-term debt obligations are not callable until maturity . we have used interest rate swaps in the past to manage our exposure to fixed and variable interest rates ; however , at year-end 2005 , we had no such agreements in place . we use forward foreign exchange contracts to manage our exposure to fluctuations in foreign currency exchange rates , and do so in ways that qualify for hedge accounting treatment . these exchange contracts hedge the fluctuations in cash flows associated with firm commitments or specific anticipated transactions contracted in foreign currencies , or hedge the exposure to rate changes affecting foreign currency denomi- nated assets or liabilities . related gains and losses on these contracts , to the extent they are effective hedges , are recog- nized in income at the same time the hedged transaction is recognized or when the hedged asset or liability is adjusted . to the extent the hedges are ineffective , gains and losses on the contracts are recognized in the current period . at december 31 , 2005 , the fair value of forward exchange con- tracts outstanding , as well as the amounts of gains and losses recorded during the year then ended , were not material . we do not hold or issue derivative financial instruments for trad- ing or speculative purposes . recent accounting pronouncements in december 2004 , the fasb issued fas 123 ( r ) , share- based payments , which will impact our net earnings and earn- ings per share and change the classification of certain elements of the statement of cash flows . fas 123 ( r ) requires stock options and other share-based payments made to employees to be accounted for as compensation expense and recorded at fair lockheed martin corporation management 2019s discussion and analysis of financial condition and results of operations december 31 , 2005 .

2,005

40

LMT

Lockheed Martin

Industrials

Aerospace & Defense

Bethesda, Maryland

1957-03-04

936,468

1995

what was the percent of the total commitment with an expiration of less that 1 year was subject to renewal

93.3%

divide(2262, 2425)

page 38 five years . the amounts ultimately applied against our offset agreements are based on negotiations with the customer and generally require cash outlays that represent only a fraction of the original amount in the offset agreement . at december 31 , 2005 , we had outstanding offset agreements totaling $ 8.4 bil- lion , primarily related to our aeronautics segment , that extend through 2015 . to the extent we have entered into purchase obligations at december 31 , 2005 that also satisfy offset agree- ments , those amounts are included in the preceding table . we have entered into standby letter of credit agreements and other arrangements with financial institutions and custom- ers mainly relating to advances received from customers and/or the guarantee of future performance on some of our contracts . at december 31 , 2005 , we had outstanding letters of credit , surety bonds and guarantees , as follows : commitment expiration by period ( in millions ) commitment 1 year ( a ) years ( a ) standby letters of credit $ 2630 $ 2425 $ 171 $ 18 $ 16 .

( a ) approximately $ 2262 million and $ 49 million of standby letters of credit in the 201cless than 1 year 201d and 201c1-3 year 201d periods , respectively , and approximately $ 38 million of surety bonds in the 201cless than 1 year 201d period are expected to renew for additional periods until completion of the contractual obligation . included in the table above is approximately $ 200 million representing letter of credit and surety bond amounts for which related obligations or liabilities are also recorded in the bal- ance sheet , either as reductions of inventories , as customer advances and amounts in excess of costs incurred , or as other liabilities . approximately $ 2 billion of the standby letters of credit in the table above were to secure advance payments received under an f-16 contract from an international cus- tomer . these letters of credit are available for draw down in the event of our nonperformance , and the amount available will be reduced as certain events occur throughout the period of performance in accordance with the contract terms . similar to the letters of credit for the f-16 contract , other letters of credit and surety bonds are available for draw down in the event of our nonperformance . at december 31 , 2005 , we had no material off-balance sheet arrangements as those arrangements are defined by the securities and exchange commission ( sec ) . quantitative and qualitative disclosure of market risk our main exposure to market risk relates to interest rates and foreign currency exchange rates . our financial instruments that are subject to interest rate risk principally include fixed- rate and floating rate long-term debt . if interest rates were to change by plus or minus 1% ( 1 % ) , interest expense would increase or decrease by approximately $ 10 million related to our float- ing rate debt . the estimated fair values of the corporation 2019s long-term debt instruments at december 31 , 2005 aggregated approximately $ 6.2 billion , compared with a carrying amount of approximately $ 5.0 billion . the majority of our long-term debt obligations are not callable until maturity . we have used interest rate swaps in the past to manage our exposure to fixed and variable interest rates ; however , at year-end 2005 , we had no such agreements in place . we use forward foreign exchange contracts to manage our exposure to fluctuations in foreign currency exchange rates , and do so in ways that qualify for hedge accounting treatment . these exchange contracts hedge the fluctuations in cash flows associated with firm commitments or specific anticipated transactions contracted in foreign currencies , or hedge the exposure to rate changes affecting foreign currency denomi- nated assets or liabilities . related gains and losses on these contracts , to the extent they are effective hedges , are recog- nized in income at the same time the hedged transaction is recognized or when the hedged asset or liability is adjusted . to the extent the hedges are ineffective , gains and losses on the contracts are recognized in the current period . at december 31 , 2005 , the fair value of forward exchange con- tracts outstanding , as well as the amounts of gains and losses recorded during the year then ended , were not material . we do not hold or issue derivative financial instruments for trad- ing or speculative purposes . recent accounting pronouncements in december 2004 , the fasb issued fas 123 ( r ) , share- based payments , which will impact our net earnings and earn- ings per share and change the classification of certain elements of the statement of cash flows . fas 123 ( r ) requires stock options and other share-based payments made to employees to be accounted for as compensation expense and recorded at fair lockheed martin corporation management 2019s discussion and analysis of financial condition and results of operations december 31 , 2005 .

| | ( in millions ) | commitment expiration by period total commitment | commitment expiration by period less than 1 year ( a ) | commitment expiration by period 1-3 years ( a ) | commitment expiration by period 3-5 years | commitment expiration by period after 5 years | |---:|:--------------------------|:---------------------------------------------------|:---------------------------------------------------------|:--------------------------------------------------|:--------------------------------------------|:------------------------------------------------| | 0 | standby letters of credit | $ 2630 | $ 2425 | $ 171 | $ 18 | $ 16 | | 1 | surety bonds | 434 | 79 | 352 | 3 | 2014 | | 2 | guarantees | 2 | 1 | 1 | 2014 | 2014 | | 3 | total commitments | $ 3066 | $ 2505 | $ 524 | $ 21 | $ 16 |

page 38 five years . the amounts ultimately applied against our offset agreements are based on negotiations with the customer and generally require cash outlays that represent only a fraction of the original amount in the offset agreement . at december 31 , 2005 , we had outstanding offset agreements totaling $ 8.4 bil- lion , primarily related to our aeronautics segment , that extend through 2015 . to the extent we have entered into purchase obligations at december 31 , 2005 that also satisfy offset agree- ments , those amounts are included in the preceding table . we have entered into standby letter of credit agreements and other arrangements with financial institutions and custom- ers mainly relating to advances received from customers and/or the guarantee of future performance on some of our contracts . at december 31 , 2005 , we had outstanding letters of credit , surety bonds and guarantees , as follows : commitment expiration by period ( in millions ) commitment 1 year ( a ) years ( a ) standby letters of credit $ 2630 $ 2425 $ 171 $ 18 $ 16 ._| | ( in millions ) | commitment expiration by period total commitment | commitment expiration by period less than 1 year ( a ) | commitment expiration by period 1-3 years ( a ) | commitment expiration by period 3-5 years | commitment expiration by period after 5 years | |---:|:--------------------------|:---------------------------------------------------|:---------------------------------------------------------|:--------------------------------------------------|:--------------------------------------------|:------------------------------------------------| | 0 | standby letters of credit | $ 2630 | $ 2425 | $ 171 | $ 18 | $ 16 | | 1 | surety bonds | 434 | 79 | 352 | 3 | 2014 | | 2 | guarantees | 2 | 1 | 1 | 2014 | 2014 | | 3 | total commitments | $ 3066 | $ 2505 | $ 524 | $ 21 | $ 16 |_( a ) approximately $ 2262 million and $ 49 million of standby letters of credit in the 201cless than 1 year 201d and 201c1-3 year 201d periods , respectively , and approximately $ 38 million of surety bonds in the 201cless than 1 year 201d period are expected to renew for additional periods until completion of the contractual obligation . included in the table above is approximately $ 200 million representing letter of credit and surety bond amounts for which related obligations or liabilities are also recorded in the bal- ance sheet , either as reductions of inventories , as customer advances and amounts in excess of costs incurred , or as other liabilities . approximately $ 2 billion of the standby letters of credit in the table above were to secure advance payments received under an f-16 contract from an international cus- tomer . these letters of credit are available for draw down in the event of our nonperformance , and the amount available will be reduced as certain events occur throughout the period of performance in accordance with the contract terms . similar to the letters of credit for the f-16 contract , other letters of credit and surety bonds are available for draw down in the event of our nonperformance . at december 31 , 2005 , we had no material off-balance sheet arrangements as those arrangements are defined by the securities and exchange commission ( sec ) . quantitative and qualitative disclosure of market risk our main exposure to market risk relates to interest rates and foreign currency exchange rates . our financial instruments that are subject to interest rate risk principally include fixed- rate and floating rate long-term debt . if interest rates were to change by plus or minus 1% ( 1 % ) , interest expense would increase or decrease by approximately $ 10 million related to our float- ing rate debt . the estimated fair values of the corporation 2019s long-term debt instruments at december 31 , 2005 aggregated approximately $ 6.2 billion , compared with a carrying amount of approximately $ 5.0 billion . the majority of our long-term debt obligations are not callable until maturity . we have used interest rate swaps in the past to manage our exposure to fixed and variable interest rates ; however , at year-end 2005 , we had no such agreements in place . we use forward foreign exchange contracts to manage our exposure to fluctuations in foreign currency exchange rates , and do so in ways that qualify for hedge accounting treatment . these exchange contracts hedge the fluctuations in cash flows associated with firm commitments or specific anticipated transactions contracted in foreign currencies , or hedge the exposure to rate changes affecting foreign currency denomi- nated assets or liabilities . related gains and losses on these contracts , to the extent they are effective hedges , are recog- nized in income at the same time the hedged transaction is recognized or when the hedged asset or liability is adjusted . to the extent the hedges are ineffective , gains and losses on the contracts are recognized in the current period . at december 31 , 2005 , the fair value of forward exchange con- tracts outstanding , as well as the amounts of gains and losses recorded during the year then ended , were not material . we do not hold or issue derivative financial instruments for trad- ing or speculative purposes . recent accounting pronouncements in december 2004 , the fasb issued fas 123 ( r ) , share- based payments , which will impact our net earnings and earn- ings per share and change the classification of certain elements of the statement of cash flows . fas 123 ( r ) requires stock options and other share-based payments made to employees to be accounted for as compensation expense and recorded at fair lockheed martin corporation management 2019s discussion and analysis of financial condition and results of operations december 31 , 2005 .

2,005

40

LMT

Lockheed Martin

Industrials

Aerospace & Defense

Bethesda, Maryland

1957-03-04

936,468

1995

null

finqa225

considering the year 2014 , what is the variation between the capital expenditures on a gaap basis and the one on a non-gaap basis?

202.9

subtract(1885.1, 1682.2)

investing activities for the year ended 30 september 2014 , cash used for investing activities was $ 1638.0 , primarily capital expenditures for plant and equipment . for the year ended 30 september 2013 , cash used for investing activities was $ 1697.0 , primarily capital expenditures for plant and equipment and acquisitions . for the year ended 30 september 2012 , cash used for investing activities was $ 2435.2 , primarily capital expenditures for plant and equipment , acquisitions , and investments in unconsolidated affiliates . refer to the capital expenditures section below for additional detail . capital expenditures capital expenditures are detailed in the following table: .

( a ) we utilize a non-gaap measure in the computation of capital expenditures and include spending associated with facilities accounted for as capital leases and purchases of noncontrolling interests . certain contracts associated with facilities that are built to provide product to a specific customer are required to be accounted for as leases , and such spending is reflected as a use of cash within cash provided by operating activities , if the arrangement qualifies as a capital lease . additionally , the payment for subsidiary shares from noncontrolling interests in a subsidiary is accounted for as an equity transaction and will be reflected as a financing activity in the statement of cash flows . the presentation of this non-gaap measure is intended to enhance the usefulness of information by providing a measure that our management uses internally to evaluate and manage our expenditures . capital expenditures on a gaap basis in 2014 totaled $ 1682.2 , compared to $ 1747.8 in 2013 . the decrease of $ 65.6 was primarily due to the acquisitions in 2013 . additions to plant and equipment are largely in support of the merchant gases and tonnage gases businesses . additions to plant and equipment also included support capital of a routine , ongoing nature , including expenditures for distribution equipment and facility improvements . spending in 2014 and 2013 included plant and equipment constructed to provide oxygen for coal gasification in china , hydrogen to the global market , and renewable energy in the u.k . in 2013 , we completed three acquisitions with an aggregate cash use , net of cash acquired , of $ 224.9 . in the fourth quarter , we acquired an air separation unit and integrated gases liquefier in guiyang , china . during the third quarter , we acquired epco , the largest independent u.s . producer of liquid carbon dioxide ( co2 ) , and wcg . in 2012 , we acquired a controlling stake in indura s.a . for $ 690 and e.i . dupont de nemours and co. , inc . 2019s 50% ( 50 % ) interest in our joint venture , da nanomaterials for $ 147 . we also purchased a 25% ( 25 % ) equity interest in abdullah hashim industrial gases & equipment co . ltd . ( ahg ) , an unconsolidated affiliate , for $ 155 . refer to note 5 , business combinations , and note 7 , summarized financial information of equity affiliates , to the consolidated financial statements for additional details regarding the acquisitions and the investments . capital expenditures on a non-gaap basis in 2014 totaled $ 1885.1 compared to $ 1996.7 in 2013 . capital lease expenditures of $ 202.4 decreased by $ 32.5 , reflecting lower project spending . 2015 outlook excluding acquisitions , capital expenditures for new plant and equipment in 2015 on a gaap basis are expected to be between $ 1650 and $ 1800 , and on a non-gaap basis are expected to be between $ 1700 and $ 1900 . the non-gaap capital expenditures include spending associated with facilities accounted for as capital leases , which are expected to be between $ 50 and $ 100 . a majority of the total capital expenditures is expected to be for new plants . it is anticipated that capital expenditures will be funded principally with cash from continuing operations . in addition , we intend to continue to evaluate acquisition opportunities and investments in equity affiliates . financing activities for the year ended 2014 , cash used by financing activities was $ 504.3 primarily attributable to cash used to pay dividends of $ 627.7 , which was partially offset by proceeds from stock option exercises of $ 141.6 . our borrowings ( short- and long-term proceeds , net of repayments ) were a net source of cash ( issuance ) of $ 1.1 and included $ 148.7 of net commercial paper and other short-term debt issuances , debt proceeds from the issuance of a .

| | | 2014 | 2013 | 2012 | |---:|:----------------------------------------------------------|:-------------|:-------------|:---------| | 0 | additions to plant and equipment | $ 1684.2 | $ 1524.2 | $ 1521.0 | | 1 | acquisitions less cash acquired | 2014 | 224.9 | 863.4 | | 2 | investments in and advances to unconsolidated affiliates | -2.0 ( 2.0 ) | -1.3 ( 1.3 ) | 175.4 | | 3 | capital expenditures on a gaap basis | $ 1682.2 | $ 1747.8 | $ 2559.8 | | 4 | capital lease expenditures ( a ) | 202.4 | 234.9 | 212.2 | | 5 | purchase of noncontrolling interests in asubsidiary ( a ) | .5 | 14.0 | 6.3 | | 6 | capital expenditures on a non-gaap basis | $ 1885.1 | $ 1996.7 | $ 2778.3 |

investing activities for the year ended 30 september 2014 , cash used for investing activities was $ 1638.0 , primarily capital expenditures for plant and equipment . for the year ended 30 september 2013 , cash used for investing activities was $ 1697.0 , primarily capital expenditures for plant and equipment and acquisitions . for the year ended 30 september 2012 , cash used for investing activities was $ 2435.2 , primarily capital expenditures for plant and equipment , acquisitions , and investments in unconsolidated affiliates . refer to the capital expenditures section below for additional detail . capital expenditures capital expenditures are detailed in the following table: ._| | | 2014 | 2013 | 2012 | |---:|:----------------------------------------------------------|:-------------|:-------------|:---------| | 0 | additions to plant and equipment | $ 1684.2 | $ 1524.2 | $ 1521.0 | | 1 | acquisitions less cash acquired | 2014 | 224.9 | 863.4 | | 2 | investments in and advances to unconsolidated affiliates | -2.0 ( 2.0 ) | -1.3 ( 1.3 ) | 175.4 | | 3 | capital expenditures on a gaap basis | $ 1682.2 | $ 1747.8 | $ 2559.8 | | 4 | capital lease expenditures ( a ) | 202.4 | 234.9 | 212.2 | | 5 | purchase of noncontrolling interests in asubsidiary ( a ) | .5 | 14.0 | 6.3 | | 6 | capital expenditures on a non-gaap basis | $ 1885.1 | $ 1996.7 | $ 2778.3 |_( a ) we utilize a non-gaap measure in the computation of capital expenditures and include spending associated with facilities accounted for as capital leases and purchases of noncontrolling interests . certain contracts associated with facilities that are built to provide product to a specific customer are required to be accounted for as leases , and such spending is reflected as a use of cash within cash provided by operating activities , if the arrangement qualifies as a capital lease . additionally , the payment for subsidiary shares from noncontrolling interests in a subsidiary is accounted for as an equity transaction and will be reflected as a financing activity in the statement of cash flows . the presentation of this non-gaap measure is intended to enhance the usefulness of information by providing a measure that our management uses internally to evaluate and manage our expenditures . capital expenditures on a gaap basis in 2014 totaled $ 1682.2 , compared to $ 1747.8 in 2013 . the decrease of $ 65.6 was primarily due to the acquisitions in 2013 . additions to plant and equipment are largely in support of the merchant gases and tonnage gases businesses . additions to plant and equipment also included support capital of a routine , ongoing nature , including expenditures for distribution equipment and facility improvements . spending in 2014 and 2013 included plant and equipment constructed to provide oxygen for coal gasification in china , hydrogen to the global market , and renewable energy in the u.k . in 2013 , we completed three acquisitions with an aggregate cash use , net of cash acquired , of $ 224.9 . in the fourth quarter , we acquired an air separation unit and integrated gases liquefier in guiyang , china . during the third quarter , we acquired epco , the largest independent u.s . producer of liquid carbon dioxide ( co2 ) , and wcg . in 2012 , we acquired a controlling stake in indura s.a . for $ 690 and e.i . dupont de nemours and co. , inc . 2019s 50% ( 50 % ) interest in our joint venture , da nanomaterials for $ 147 . we also purchased a 25% ( 25 % ) equity interest in abdullah hashim industrial gases & equipment co . ltd . ( ahg ) , an unconsolidated affiliate , for $ 155 . refer to note 5 , business combinations , and note 7 , summarized financial information of equity affiliates , to the consolidated financial statements for additional details regarding the acquisitions and the investments . capital expenditures on a non-gaap basis in 2014 totaled $ 1885.1 compared to $ 1996.7 in 2013 . capital lease expenditures of $ 202.4 decreased by $ 32.5 , reflecting lower project spending . 2015 outlook excluding acquisitions , capital expenditures for new plant and equipment in 2015 on a gaap basis are expected to be between $ 1650 and $ 1800 , and on a non-gaap basis are expected to be between $ 1700 and $ 1900 . the non-gaap capital expenditures include spending associated with facilities accounted for as capital leases , which are expected to be between $ 50 and $ 100 . a majority of the total capital expenditures is expected to be for new plants . it is anticipated that capital expenditures will be funded principally with cash from continuing operations . in addition , we intend to continue to evaluate acquisition opportunities and investments in equity affiliates . financing activities for the year ended 2014 , cash used by financing activities was $ 504.3 primarily attributable to cash used to pay dividends of $ 627.7 , which was partially offset by proceeds from stock option exercises of $ 141.6 . our borrowings ( short- and long-term proceeds , net of repayments ) were a net source of cash ( issuance ) of $ 1.1 and included $ 148.7 of net commercial paper and other short-term debt issuances , debt proceeds from the issuance of a .

2,014

44

APD

Air Products

Materials

Industrial Gases

Upper Macungie Township, Pennsylvania

1985-04-30

2,969

1940

considering the year 2014 , what is the variation between the capital expenditures on a gaap basis and the one on a non-gaap basis?

202.9

subtract(1885.1, 1682.2)

investing activities for the year ended 30 september 2014 , cash used for investing activities was $ 1638.0 , primarily capital expenditures for plant and equipment . for the year ended 30 september 2013 , cash used for investing activities was $ 1697.0 , primarily capital expenditures for plant and equipment and acquisitions . for the year ended 30 september 2012 , cash used for investing activities was $ 2435.2 , primarily capital expenditures for plant and equipment , acquisitions , and investments in unconsolidated affiliates . refer to the capital expenditures section below for additional detail . capital expenditures capital expenditures are detailed in the following table: .

( a ) we utilize a non-gaap measure in the computation of capital expenditures and include spending associated with facilities accounted for as capital leases and purchases of noncontrolling interests . certain contracts associated with facilities that are built to provide product to a specific customer are required to be accounted for as leases , and such spending is reflected as a use of cash within cash provided by operating activities , if the arrangement qualifies as a capital lease . additionally , the payment for subsidiary shares from noncontrolling interests in a subsidiary is accounted for as an equity transaction and will be reflected as a financing activity in the statement of cash flows . the presentation of this non-gaap measure is intended to enhance the usefulness of information by providing a measure that our management uses internally to evaluate and manage our expenditures . capital expenditures on a gaap basis in 2014 totaled $ 1682.2 , compared to $ 1747.8 in 2013 . the decrease of $ 65.6 was primarily due to the acquisitions in 2013 . additions to plant and equipment are largely in support of the merchant gases and tonnage gases businesses . additions to plant and equipment also included support capital of a routine , ongoing nature , including expenditures for distribution equipment and facility improvements . spending in 2014 and 2013 included plant and equipment constructed to provide oxygen for coal gasification in china , hydrogen to the global market , and renewable energy in the u.k . in 2013 , we completed three acquisitions with an aggregate cash use , net of cash acquired , of $ 224.9 . in the fourth quarter , we acquired an air separation unit and integrated gases liquefier in guiyang , china . during the third quarter , we acquired epco , the largest independent u.s . producer of liquid carbon dioxide ( co2 ) , and wcg . in 2012 , we acquired a controlling stake in indura s.a . for $ 690 and e.i . dupont de nemours and co. , inc . 2019s 50% ( 50 % ) interest in our joint venture , da nanomaterials for $ 147 . we also purchased a 25% ( 25 % ) equity interest in abdullah hashim industrial gases & equipment co . ltd . ( ahg ) , an unconsolidated affiliate , for $ 155 . refer to note 5 , business combinations , and note 7 , summarized financial information of equity affiliates , to the consolidated financial statements for additional details regarding the acquisitions and the investments . capital expenditures on a non-gaap basis in 2014 totaled $ 1885.1 compared to $ 1996.7 in 2013 . capital lease expenditures of $ 202.4 decreased by $ 32.5 , reflecting lower project spending . 2015 outlook excluding acquisitions , capital expenditures for new plant and equipment in 2015 on a gaap basis are expected to be between $ 1650 and $ 1800 , and on a non-gaap basis are expected to be between $ 1700 and $ 1900 . the non-gaap capital expenditures include spending associated with facilities accounted for as capital leases , which are expected to be between $ 50 and $ 100 . a majority of the total capital expenditures is expected to be for new plants . it is anticipated that capital expenditures will be funded principally with cash from continuing operations . in addition , we intend to continue to evaluate acquisition opportunities and investments in equity affiliates . financing activities for the year ended 2014 , cash used by financing activities was $ 504.3 primarily attributable to cash used to pay dividends of $ 627.7 , which was partially offset by proceeds from stock option exercises of $ 141.6 . our borrowings ( short- and long-term proceeds , net of repayments ) were a net source of cash ( issuance ) of $ 1.1 and included $ 148.7 of net commercial paper and other short-term debt issuances , debt proceeds from the issuance of a .

| | | 2014 | 2013 | 2012 | |---:|:----------------------------------------------------------|:-------------|:-------------|:---------| | 0 | additions to plant and equipment | $ 1684.2 | $ 1524.2 | $ 1521.0 | | 1 | acquisitions less cash acquired | 2014 | 224.9 | 863.4 | | 2 | investments in and advances to unconsolidated affiliates | -2.0 ( 2.0 ) | -1.3 ( 1.3 ) | 175.4 | | 3 | capital expenditures on a gaap basis | $ 1682.2 | $ 1747.8 | $ 2559.8 | | 4 | capital lease expenditures ( a ) | 202.4 | 234.9 | 212.2 | | 5 | purchase of noncontrolling interests in asubsidiary ( a ) | .5 | 14.0 | 6.3 | | 6 | capital expenditures on a non-gaap basis | $ 1885.1 | $ 1996.7 | $ 2778.3 |

investing activities for the year ended 30 september 2014 , cash used for investing activities was $ 1638.0 , primarily capital expenditures for plant and equipment . for the year ended 30 september 2013 , cash used for investing activities was $ 1697.0 , primarily capital expenditures for plant and equipment and acquisitions . for the year ended 30 september 2012 , cash used for investing activities was $ 2435.2 , primarily capital expenditures for plant and equipment , acquisitions , and investments in unconsolidated affiliates . refer to the capital expenditures section below for additional detail . capital expenditures capital expenditures are detailed in the following table: ._| | | 2014 | 2013 | 2012 | |---:|:----------------------------------------------------------|:-------------|:-------------|:---------| | 0 | additions to plant and equipment | $ 1684.2 | $ 1524.2 | $ 1521.0 | | 1 | acquisitions less cash acquired | 2014 | 224.9 | 863.4 | | 2 | investments in and advances to unconsolidated affiliates | -2.0 ( 2.0 ) | -1.3 ( 1.3 ) | 175.4 | | 3 | capital expenditures on a gaap basis | $ 1682.2 | $ 1747.8 | $ 2559.8 | | 4 | capital lease expenditures ( a ) | 202.4 | 234.9 | 212.2 | | 5 | purchase of noncontrolling interests in asubsidiary ( a ) | .5 | 14.0 | 6.3 | | 6 | capital expenditures on a non-gaap basis | $ 1885.1 | $ 1996.7 | $ 2778.3 |_( a ) we utilize a non-gaap measure in the computation of capital expenditures and include spending associated with facilities accounted for as capital leases and purchases of noncontrolling interests . certain contracts associated with facilities that are built to provide product to a specific customer are required to be accounted for as leases , and such spending is reflected as a use of cash within cash provided by operating activities , if the arrangement qualifies as a capital lease . additionally , the payment for subsidiary shares from noncontrolling interests in a subsidiary is accounted for as an equity transaction and will be reflected as a financing activity in the statement of cash flows . the presentation of this non-gaap measure is intended to enhance the usefulness of information by providing a measure that our management uses internally to evaluate and manage our expenditures . capital expenditures on a gaap basis in 2014 totaled $ 1682.2 , compared to $ 1747.8 in 2013 . the decrease of $ 65.6 was primarily due to the acquisitions in 2013 . additions to plant and equipment are largely in support of the merchant gases and tonnage gases businesses . additions to plant and equipment also included support capital of a routine , ongoing nature , including expenditures for distribution equipment and facility improvements . spending in 2014 and 2013 included plant and equipment constructed to provide oxygen for coal gasification in china , hydrogen to the global market , and renewable energy in the u.k . in 2013 , we completed three acquisitions with an aggregate cash use , net of cash acquired , of $ 224.9 . in the fourth quarter , we acquired an air separation unit and integrated gases liquefier in guiyang , china . during the third quarter , we acquired epco , the largest independent u.s . producer of liquid carbon dioxide ( co2 ) , and wcg . in 2012 , we acquired a controlling stake in indura s.a . for $ 690 and e.i . dupont de nemours and co. , inc . 2019s 50% ( 50 % ) interest in our joint venture , da nanomaterials for $ 147 . we also purchased a 25% ( 25 % ) equity interest in abdullah hashim industrial gases & equipment co . ltd . ( ahg ) , an unconsolidated affiliate , for $ 155 . refer to note 5 , business combinations , and note 7 , summarized financial information of equity affiliates , to the consolidated financial statements for additional details regarding the acquisitions and the investments . capital expenditures on a non-gaap basis in 2014 totaled $ 1885.1 compared to $ 1996.7 in 2013 . capital lease expenditures of $ 202.4 decreased by $ 32.5 , reflecting lower project spending . 2015 outlook excluding acquisitions , capital expenditures for new plant and equipment in 2015 on a gaap basis are expected to be between $ 1650 and $ 1800 , and on a non-gaap basis are expected to be between $ 1700 and $ 1900 . the non-gaap capital expenditures include spending associated with facilities accounted for as capital leases , which are expected to be between $ 50 and $ 100 . a majority of the total capital expenditures is expected to be for new plants . it is anticipated that capital expenditures will be funded principally with cash from continuing operations . in addition , we intend to continue to evaluate acquisition opportunities and investments in equity affiliates . financing activities for the year ended 2014 , cash used by financing activities was $ 504.3 primarily attributable to cash used to pay dividends of $ 627.7 , which was partially offset by proceeds from stock option exercises of $ 141.6 . our borrowings ( short- and long-term proceeds , net of repayments ) were a net source of cash ( issuance ) of $ 1.1 and included $ 148.7 of net commercial paper and other short-term debt issuances , debt proceeds from the issuance of a .

2,014

44

APD

Air Products

Materials

Industrial Gases

Upper Macungie Township, Pennsylvania

1985-04-30

2,969

1940

null

finqa226

what is the percentage change in interest income from 2014 to 2015?

-16.8%

divide(subtract(22.8, 27.4), 27.4)

item 7a . quantitative and qualitative disclosures about market risk ( amounts in millions ) in the normal course of business , we are exposed to market risks related to interest rates , foreign currency rates and certain balance sheet items . from time to time , we use derivative instruments , pursuant to established guidelines and policies , to manage some portion of these risks . derivative instruments utilized in our hedging activities are viewed as risk management tools and are not used for trading or speculative purposes . interest rates our exposure to market risk for changes in interest rates relates primarily to the fair market value and cash flows of our debt obligations . the majority of our debt ( approximately 89% ( 89 % ) and 91% ( 91 % ) as of december 31 , 2015 and 2014 , respectively ) bears interest at fixed rates . we do have debt with variable interest rates , but a 10% ( 10 % ) increase or decrease in interest rates would not be material to our interest expense or cash flows . the fair market value of our debt is sensitive to changes in interest rates , and the impact of a 10% ( 10 % ) change in interest rates is summarized below . increase/ ( decrease ) in fair market value as of december 31 , 10% ( 10 % ) increase in interest rates 10% ( 10 % ) decrease in interest rates .

we have used interest rate swaps for risk management purposes to manage our exposure to changes in interest rates . we do not have any interest rate swaps outstanding as of december 31 , 2015 . we had $ 1509.7 of cash , cash equivalents and marketable securities as of december 31 , 2015 that we generally invest in conservative , short-term bank deposits or securities . the interest income generated from these investments is subject to both domestic and foreign interest rate movements . during 2015 and 2014 , we had interest income of $ 22.8 and $ 27.4 , respectively . based on our 2015 results , a 100-basis-point increase or decrease in interest rates would affect our interest income by approximately $ 15.0 , assuming that all cash , cash equivalents and marketable securities are impacted in the same manner and balances remain constant from year-end 2015 levels . foreign currency rates we are subject to translation and transaction risks related to changes in foreign currency exchange rates . since we report revenues and expenses in u.s . dollars , changes in exchange rates may either positively or negatively affect our consolidated revenues and expenses ( as expressed in u.s . dollars ) from foreign operations . the primary foreign currencies that impacted our results during 2015 included the australian dollar , brazilian real , british pound sterling and euro . based on 2015 exchange rates and operating results , if the u.s . dollar were to strengthen or weaken by 10% ( 10 % ) , we currently estimate operating income would decrease or increase approximately 4% ( 4 % ) , assuming that all currencies are impacted in the same manner and our international revenue and expenses remain constant at 2015 levels . the functional currency of our foreign operations is generally their respective local currency . assets and liabilities are translated at the exchange rates in effect at the balance sheet date , and revenues and expenses are translated at the average exchange rates during the period presented . the resulting translation adjustments are recorded as a component of accumulated other comprehensive loss , net of tax , in the stockholders 2019 equity section of our consolidated balance sheets . our foreign subsidiaries generally collect revenues and pay expenses in their functional currency , mitigating transaction risk . however , certain subsidiaries may enter into transactions in currencies other than their functional currency . assets and liabilities denominated in currencies other than the functional currency are susceptible to movements in foreign currency until final settlement . currency transaction gains or losses primarily arising from transactions in currencies other than the functional currency are included in office and general expenses . we regularly review our foreign exchange exposures that may have a material impact on our business and from time to time use foreign currency forward exchange contracts or other derivative financial instruments to hedge the effects of potential adverse fluctuations in foreign currency exchange rates arising from these exposures . we do not enter into foreign exchange contracts or other derivatives for speculative purposes. .

| | as of december 31, | increase/ ( decrease ) in fair market value 10% ( 10 % ) increasein interest rates | increase/ ( decrease ) in fair market value 10% ( 10 % ) decreasein interest rates | |---:|---------------------:|:-------------------------------------------------------------------------------------|:-------------------------------------------------------------------------------------| | 0 | 2015 | $ -33.7 ( 33.7 ) | $ 34.7 | | 1 | 2014 | -35.5 ( 35.5 ) | 36.6 |

item 7a . quantitative and qualitative disclosures about market risk ( amounts in millions ) in the normal course of business , we are exposed to market risks related to interest rates , foreign currency rates and certain balance sheet items . from time to time , we use derivative instruments , pursuant to established guidelines and policies , to manage some portion of these risks . derivative instruments utilized in our hedging activities are viewed as risk management tools and are not used for trading or speculative purposes . interest rates our exposure to market risk for changes in interest rates relates primarily to the fair market value and cash flows of our debt obligations . the majority of our debt ( approximately 89% ( 89 % ) and 91% ( 91 % ) as of december 31 , 2015 and 2014 , respectively ) bears interest at fixed rates . we do have debt with variable interest rates , but a 10% ( 10 % ) increase or decrease in interest rates would not be material to our interest expense or cash flows . the fair market value of our debt is sensitive to changes in interest rates , and the impact of a 10% ( 10 % ) change in interest rates is summarized below . increase/ ( decrease ) in fair market value as of december 31 , 10% ( 10 % ) increase in interest rates 10% ( 10 % ) decrease in interest rates ._| | as of december 31, | increase/ ( decrease ) in fair market value 10% ( 10 % ) increasein interest rates | increase/ ( decrease ) in fair market value 10% ( 10 % ) decreasein interest rates | |---:|---------------------:|:-------------------------------------------------------------------------------------|:-------------------------------------------------------------------------------------| | 0 | 2015 | $ -33.7 ( 33.7 ) | $ 34.7 | | 1 | 2014 | -35.5 ( 35.5 ) | 36.6 |_we have used interest rate swaps for risk management purposes to manage our exposure to changes in interest rates . we do not have any interest rate swaps outstanding as of december 31 , 2015 . we had $ 1509.7 of cash , cash equivalents and marketable securities as of december 31 , 2015 that we generally invest in conservative , short-term bank deposits or securities . the interest income generated from these investments is subject to both domestic and foreign interest rate movements . during 2015 and 2014 , we had interest income of $ 22.8 and $ 27.4 , respectively . based on our 2015 results , a 100-basis-point increase or decrease in interest rates would affect our interest income by approximately $ 15.0 , assuming that all cash , cash equivalents and marketable securities are impacted in the same manner and balances remain constant from year-end 2015 levels . foreign currency rates we are subject to translation and transaction risks related to changes in foreign currency exchange rates . since we report revenues and expenses in u.s . dollars , changes in exchange rates may either positively or negatively affect our consolidated revenues and expenses ( as expressed in u.s . dollars ) from foreign operations . the primary foreign currencies that impacted our results during 2015 included the australian dollar , brazilian real , british pound sterling and euro . based on 2015 exchange rates and operating results , if the u.s . dollar were to strengthen or weaken by 10% ( 10 % ) , we currently estimate operating income would decrease or increase approximately 4% ( 4 % ) , assuming that all currencies are impacted in the same manner and our international revenue and expenses remain constant at 2015 levels . the functional currency of our foreign operations is generally their respective local currency . assets and liabilities are translated at the exchange rates in effect at the balance sheet date , and revenues and expenses are translated at the average exchange rates during the period presented . the resulting translation adjustments are recorded as a component of accumulated other comprehensive loss , net of tax , in the stockholders 2019 equity section of our consolidated balance sheets . our foreign subsidiaries generally collect revenues and pay expenses in their functional currency , mitigating transaction risk . however , certain subsidiaries may enter into transactions in currencies other than their functional currency . assets and liabilities denominated in currencies other than the functional currency are susceptible to movements in foreign currency until final settlement . currency transaction gains or losses primarily arising from transactions in currencies other than the functional currency are included in office and general expenses . we regularly review our foreign exchange exposures that may have a material impact on our business and from time to time use foreign currency forward exchange contracts or other derivative financial instruments to hedge the effects of potential adverse fluctuations in foreign currency exchange rates arising from these exposures . we do not enter into foreign exchange contracts or other derivatives for speculative purposes. .

2,015

48

IPG

Interpublic Group of Companies (The)

Communication Services

Advertising

New York City, New York

1992-10-01

51,644

1961 (1930)

what is the percentage change in interest income from 2014 to 2015?

-16.8%

divide(subtract(22.8, 27.4), 27.4)

item 7a . quantitative and qualitative disclosures about market risk ( amounts in millions ) in the normal course of business , we are exposed to market risks related to interest rates , foreign currency rates and certain balance sheet items . from time to time , we use derivative instruments , pursuant to established guidelines and policies , to manage some portion of these risks . derivative instruments utilized in our hedging activities are viewed as risk management tools and are not used for trading or speculative purposes . interest rates our exposure to market risk for changes in interest rates relates primarily to the fair market value and cash flows of our debt obligations . the majority of our debt ( approximately 89% ( 89 % ) and 91% ( 91 % ) as of december 31 , 2015 and 2014 , respectively ) bears interest at fixed rates . we do have debt with variable interest rates , but a 10% ( 10 % ) increase or decrease in interest rates would not be material to our interest expense or cash flows . the fair market value of our debt is sensitive to changes in interest rates , and the impact of a 10% ( 10 % ) change in interest rates is summarized below . increase/ ( decrease ) in fair market value as of december 31 , 10% ( 10 % ) increase in interest rates 10% ( 10 % ) decrease in interest rates .

we have used interest rate swaps for risk management purposes to manage our exposure to changes in interest rates . we do not have any interest rate swaps outstanding as of december 31 , 2015 . we had $ 1509.7 of cash , cash equivalents and marketable securities as of december 31 , 2015 that we generally invest in conservative , short-term bank deposits or securities . the interest income generated from these investments is subject to both domestic and foreign interest rate movements . during 2015 and 2014 , we had interest income of $ 22.8 and $ 27.4 , respectively . based on our 2015 results , a 100-basis-point increase or decrease in interest rates would affect our interest income by approximately $ 15.0 , assuming that all cash , cash equivalents and marketable securities are impacted in the same manner and balances remain constant from year-end 2015 levels . foreign currency rates we are subject to translation and transaction risks related to changes in foreign currency exchange rates . since we report revenues and expenses in u.s . dollars , changes in exchange rates may either positively or negatively affect our consolidated revenues and expenses ( as expressed in u.s . dollars ) from foreign operations . the primary foreign currencies that impacted our results during 2015 included the australian dollar , brazilian real , british pound sterling and euro . based on 2015 exchange rates and operating results , if the u.s . dollar were to strengthen or weaken by 10% ( 10 % ) , we currently estimate operating income would decrease or increase approximately 4% ( 4 % ) , assuming that all currencies are impacted in the same manner and our international revenue and expenses remain constant at 2015 levels . the functional currency of our foreign operations is generally their respective local currency . assets and liabilities are translated at the exchange rates in effect at the balance sheet date , and revenues and expenses are translated at the average exchange rates during the period presented . the resulting translation adjustments are recorded as a component of accumulated other comprehensive loss , net of tax , in the stockholders 2019 equity section of our consolidated balance sheets . our foreign subsidiaries generally collect revenues and pay expenses in their functional currency , mitigating transaction risk . however , certain subsidiaries may enter into transactions in currencies other than their functional currency . assets and liabilities denominated in currencies other than the functional currency are susceptible to movements in foreign currency until final settlement . currency transaction gains or losses primarily arising from transactions in currencies other than the functional currency are included in office and general expenses . we regularly review our foreign exchange exposures that may have a material impact on our business and from time to time use foreign currency forward exchange contracts or other derivative financial instruments to hedge the effects of potential adverse fluctuations in foreign currency exchange rates arising from these exposures . we do not enter into foreign exchange contracts or other derivatives for speculative purposes. .

| | as of december 31, | increase/ ( decrease ) in fair market value 10% ( 10 % ) increasein interest rates | increase/ ( decrease ) in fair market value 10% ( 10 % ) decreasein interest rates | |---:|---------------------:|:-------------------------------------------------------------------------------------|:-------------------------------------------------------------------------------------| | 0 | 2015 | $ -33.7 ( 33.7 ) | $ 34.7 | | 1 | 2014 | -35.5 ( 35.5 ) | 36.6 |

item 7a . quantitative and qualitative disclosures about market risk ( amounts in millions ) in the normal course of business , we are exposed to market risks related to interest rates , foreign currency rates and certain balance sheet items . from time to time , we use derivative instruments , pursuant to established guidelines and policies , to manage some portion of these risks . derivative instruments utilized in our hedging activities are viewed as risk management tools and are not used for trading or speculative purposes . interest rates our exposure to market risk for changes in interest rates relates primarily to the fair market value and cash flows of our debt obligations . the majority of our debt ( approximately 89% ( 89 % ) and 91% ( 91 % ) as of december 31 , 2015 and 2014 , respectively ) bears interest at fixed rates . we do have debt with variable interest rates , but a 10% ( 10 % ) increase or decrease in interest rates would not be material to our interest expense or cash flows . the fair market value of our debt is sensitive to changes in interest rates , and the impact of a 10% ( 10 % ) change in interest rates is summarized below . increase/ ( decrease ) in fair market value as of december 31 , 10% ( 10 % ) increase in interest rates 10% ( 10 % ) decrease in interest rates ._| | as of december 31, | increase/ ( decrease ) in fair market value 10% ( 10 % ) increasein interest rates | increase/ ( decrease ) in fair market value 10% ( 10 % ) decreasein interest rates | |---:|---------------------:|:-------------------------------------------------------------------------------------|:-------------------------------------------------------------------------------------| | 0 | 2015 | $ -33.7 ( 33.7 ) | $ 34.7 | | 1 | 2014 | -35.5 ( 35.5 ) | 36.6 |_we have used interest rate swaps for risk management purposes to manage our exposure to changes in interest rates . we do not have any interest rate swaps outstanding as of december 31 , 2015 . we had $ 1509.7 of cash , cash equivalents and marketable securities as of december 31 , 2015 that we generally invest in conservative , short-term bank deposits or securities . the interest income generated from these investments is subject to both domestic and foreign interest rate movements . during 2015 and 2014 , we had interest income of $ 22.8 and $ 27.4 , respectively . based on our 2015 results , a 100-basis-point increase or decrease in interest rates would affect our interest income by approximately $ 15.0 , assuming that all cash , cash equivalents and marketable securities are impacted in the same manner and balances remain constant from year-end 2015 levels . foreign currency rates we are subject to translation and transaction risks related to changes in foreign currency exchange rates . since we report revenues and expenses in u.s . dollars , changes in exchange rates may either positively or negatively affect our consolidated revenues and expenses ( as expressed in u.s . dollars ) from foreign operations . the primary foreign currencies that impacted our results during 2015 included the australian dollar , brazilian real , british pound sterling and euro . based on 2015 exchange rates and operating results , if the u.s . dollar were to strengthen or weaken by 10% ( 10 % ) , we currently estimate operating income would decrease or increase approximately 4% ( 4 % ) , assuming that all currencies are impacted in the same manner and our international revenue and expenses remain constant at 2015 levels . the functional currency of our foreign operations is generally their respective local currency . assets and liabilities are translated at the exchange rates in effect at the balance sheet date , and revenues and expenses are translated at the average exchange rates during the period presented . the resulting translation adjustments are recorded as a component of accumulated other comprehensive loss , net of tax , in the stockholders 2019 equity section of our consolidated balance sheets . our foreign subsidiaries generally collect revenues and pay expenses in their functional currency , mitigating transaction risk . however , certain subsidiaries may enter into transactions in currencies other than their functional currency . assets and liabilities denominated in currencies other than the functional currency are susceptible to movements in foreign currency until final settlement . currency transaction gains or losses primarily arising from transactions in currencies other than the functional currency are included in office and general expenses . we regularly review our foreign exchange exposures that may have a material impact on our business and from time to time use foreign currency forward exchange contracts or other derivative financial instruments to hedge the effects of potential adverse fluctuations in foreign currency exchange rates arising from these exposures . we do not enter into foreign exchange contracts or other derivatives for speculative purposes. .

2,015

48

IPG

Interpublic Group of Companies (The)

Communication Services

Advertising

New York City, New York

1992-10-01

51,644

1961 (1930)

null

finqa227

what was the average high and low stock price for the second quarter of 2002?

6.36

divide(add(9.17, 3.55), const_2)

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 average high and low stock price for the second quarter of 2002?

6.36

divide(add(9.17, 3.55), const_2)

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

finqa228

assuming a 5% ( 5 % ) rate of return , what would the earnings be ( in millions ) on 2008 total adjusted average assets?

98345

multiply(divide(5, const_100), 1966895)

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)

assuming a 5% ( 5 % ) rate of return , what would the earnings be ( in millions ) on 2008 total adjusted average assets?

98345

multiply(divide(5, const_100), 1966895)

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

finqa229

what was the value of the rsu's granted

14759301.12

multiply(1583616, 9.32)

70| | duke realty corporation annual report 2009 the following table summarizes transactions for our rsus , excluding dividend equivalents , for 2009 : weighted average number of grant date restricted stock units rsus fair value .

compensation cost recognized for rsus totaled $ 7.3 million , $ 4.9 million and $ 3.0 million for the years ended december 31 , 2009 , 2008 and 2007 , respectively . as of december 31 , 2009 , there was $ 6.7 million of total unrecognized compensation expense related to nonvested rsus granted under the plan , which is expected to be recognized over a weighted average period of 3.3 years . ( 14 ) financial instruments we are exposed to capital market risk , such as changes in interest rates . in an effort to manage interest rate risk , we may enter into interest rate hedging arrangements from time to time . we do not utilize derivative financial instruments for trading or speculative purposes . in november 2007 , we entered into forward starting interest swaps with notional amounts appropriate to hedge interest rates on $ 300.0 million of anticipated debt offerings in 2009 . the forward starting swaps were appropriately designated and tested for effectiveness as cash flow hedges . in march 2008 , we settled the forward starting swaps and made a cash payment of $ 14.6 million to the counterparties . an effectiveness test was performed as of the settlement date and it was concluded that a highly effective cash flow hedge was still in place for the expected debt offering . of the amount paid in settlement , approximately $ 700000 was immediately reclassified to interest expense , as the result of partial ineffectiveness calculated at the settlement date . the net amount of $ 13.9 million was recorded in other comprehensive income ( 201coci 201d ) and is being recognized through interest expense over the life of the hedged debt offering , which took place in may 2008 . the remaining unamortized amount included as a reduction to accumulated oci as of december 31 , 2009 is $ 9.3 million . in august 2005 , we entered into $ 300.0 million of cash flow hedges through forward starting interest rate swaps to hedge interest rates on $ 300.0 million of anticipated debt offerings in 2007 . the swaps qualified for hedge accounting , with any changes in fair value recorded in oci . in conjunction with the september 2007 issuance of $ 300.0 million of senior unsecured notes , we terminated these cash flow hedges as designated . the settlement amount received of $ 10.7 million is being recognized to earnings through a reduction of interest expense over the term of the hedged cash flows . the remaining unamortized amount included as an increase to accumulated oci as of december 31 , 2009 is $ 8.2 million . the ineffective portion of the hedge was insignificant . the effectiveness of our hedges is evaluated throughout their lives using the hypothetical derivative method under which the change in fair value of the actual swap designated as the hedging instrument is compared to the change in fair value of a hypothetical swap . we had no material interest rate derivatives , when considering both fair value and notional amount , at december 31 , 2009. .

| | restricted stock units | number of rsus | weighted average grant date fair value | |---:|:-------------------------|:-------------------|:-----------------------------------------| | 0 | rsus at december 31 2008 | 401375 | $ 29.03 | | 1 | granted | 1583616 | $ 9.32 | | 2 | vested | -129352 ( 129352 ) | $ 28.39 | | 3 | forfeited | -172033 ( 172033 ) | $ 12.53 | | 4 | rsus at december 31 2009 | 1683606 | $ 12.23 |

70| | duke realty corporation annual report 2009 the following table summarizes transactions for our rsus , excluding dividend equivalents , for 2009 : weighted average number of grant date restricted stock units rsus fair value ._| | restricted stock units | number of rsus | weighted average grant date fair value | |---:|:-------------------------|:-------------------|:-----------------------------------------| | 0 | rsus at december 31 2008 | 401375 | $ 29.03 | | 1 | granted | 1583616 | $ 9.32 | | 2 | vested | -129352 ( 129352 ) | $ 28.39 | | 3 | forfeited | -172033 ( 172033 ) | $ 12.53 | | 4 | rsus at december 31 2009 | 1683606 | $ 12.23 |_compensation cost recognized for rsus totaled $ 7.3 million , $ 4.9 million and $ 3.0 million for the years ended december 31 , 2009 , 2008 and 2007 , respectively . as of december 31 , 2009 , there was $ 6.7 million of total unrecognized compensation expense related to nonvested rsus granted under the plan , which is expected to be recognized over a weighted average period of 3.3 years . ( 14 ) financial instruments we are exposed to capital market risk , such as changes in interest rates . in an effort to manage interest rate risk , we may enter into interest rate hedging arrangements from time to time . we do not utilize derivative financial instruments for trading or speculative purposes . in november 2007 , we entered into forward starting interest swaps with notional amounts appropriate to hedge interest rates on $ 300.0 million of anticipated debt offerings in 2009 . the forward starting swaps were appropriately designated and tested for effectiveness as cash flow hedges . in march 2008 , we settled the forward starting swaps and made a cash payment of $ 14.6 million to the counterparties . an effectiveness test was performed as of the settlement date and it was concluded that a highly effective cash flow hedge was still in place for the expected debt offering . of the amount paid in settlement , approximately $ 700000 was immediately reclassified to interest expense , as the result of partial ineffectiveness calculated at the settlement date . the net amount of $ 13.9 million was recorded in other comprehensive income ( 201coci 201d ) and is being recognized through interest expense over the life of the hedged debt offering , which took place in may 2008 . the remaining unamortized amount included as a reduction to accumulated oci as of december 31 , 2009 is $ 9.3 million . in august 2005 , we entered into $ 300.0 million of cash flow hedges through forward starting interest rate swaps to hedge interest rates on $ 300.0 million of anticipated debt offerings in 2007 . the swaps qualified for hedge accounting , with any changes in fair value recorded in oci . in conjunction with the september 2007 issuance of $ 300.0 million of senior unsecured notes , we terminated these cash flow hedges as designated . the settlement amount received of $ 10.7 million is being recognized to earnings through a reduction of interest expense over the term of the hedged cash flows . the remaining unamortized amount included as an increase to accumulated oci as of december 31 , 2009 is $ 8.2 million . the ineffective portion of the hedge was insignificant . the effectiveness of our hedges is evaluated throughout their lives using the hypothetical derivative method under which the change in fair value of the actual swap designated as the hedging instrument is compared to the change in fair value of a hypothetical swap . we had no material interest rate derivatives , when considering both fair value and notional amount , at december 31 , 2009. .

2,009

72

DRE

Duke Realty Corporation

Real Estate

Industrial REITs

Indianapolis, IN

2004-01-01

783,280

1972

what was the value of the rsu's granted

14759301.12

multiply(1583616, 9.32)

70| | duke realty corporation annual report 2009 the following table summarizes transactions for our rsus , excluding dividend equivalents , for 2009 : weighted average number of grant date restricted stock units rsus fair value .

compensation cost recognized for rsus totaled $ 7.3 million , $ 4.9 million and $ 3.0 million for the years ended december 31 , 2009 , 2008 and 2007 , respectively . as of december 31 , 2009 , there was $ 6.7 million of total unrecognized compensation expense related to nonvested rsus granted under the plan , which is expected to be recognized over a weighted average period of 3.3 years . ( 14 ) financial instruments we are exposed to capital market risk , such as changes in interest rates . in an effort to manage interest rate risk , we may enter into interest rate hedging arrangements from time to time . we do not utilize derivative financial instruments for trading or speculative purposes . in november 2007 , we entered into forward starting interest swaps with notional amounts appropriate to hedge interest rates on $ 300.0 million of anticipated debt offerings in 2009 . the forward starting swaps were appropriately designated and tested for effectiveness as cash flow hedges . in march 2008 , we settled the forward starting swaps and made a cash payment of $ 14.6 million to the counterparties . an effectiveness test was performed as of the settlement date and it was concluded that a highly effective cash flow hedge was still in place for the expected debt offering . of the amount paid in settlement , approximately $ 700000 was immediately reclassified to interest expense , as the result of partial ineffectiveness calculated at the settlement date . the net amount of $ 13.9 million was recorded in other comprehensive income ( 201coci 201d ) and is being recognized through interest expense over the life of the hedged debt offering , which took place in may 2008 . the remaining unamortized amount included as a reduction to accumulated oci as of december 31 , 2009 is $ 9.3 million . in august 2005 , we entered into $ 300.0 million of cash flow hedges through forward starting interest rate swaps to hedge interest rates on $ 300.0 million of anticipated debt offerings in 2007 . the swaps qualified for hedge accounting , with any changes in fair value recorded in oci . in conjunction with the september 2007 issuance of $ 300.0 million of senior unsecured notes , we terminated these cash flow hedges as designated . the settlement amount received of $ 10.7 million is being recognized to earnings through a reduction of interest expense over the term of the hedged cash flows . the remaining unamortized amount included as an increase to accumulated oci as of december 31 , 2009 is $ 8.2 million . the ineffective portion of the hedge was insignificant . the effectiveness of our hedges is evaluated throughout their lives using the hypothetical derivative method under which the change in fair value of the actual swap designated as the hedging instrument is compared to the change in fair value of a hypothetical swap . we had no material interest rate derivatives , when considering both fair value and notional amount , at december 31 , 2009. .

| | restricted stock units | number of rsus | weighted average grant date fair value | |---:|:-------------------------|:-------------------|:-----------------------------------------| | 0 | rsus at december 31 2008 | 401375 | $ 29.03 | | 1 | granted | 1583616 | $ 9.32 | | 2 | vested | -129352 ( 129352 ) | $ 28.39 | | 3 | forfeited | -172033 ( 172033 ) | $ 12.53 | | 4 | rsus at december 31 2009 | 1683606 | $ 12.23 |

70| | duke realty corporation annual report 2009 the following table summarizes transactions for our rsus , excluding dividend equivalents , for 2009 : weighted average number of grant date restricted stock units rsus fair value ._| | restricted stock units | number of rsus | weighted average grant date fair value | |---:|:-------------------------|:-------------------|:-----------------------------------------| | 0 | rsus at december 31 2008 | 401375 | $ 29.03 | | 1 | granted | 1583616 | $ 9.32 | | 2 | vested | -129352 ( 129352 ) | $ 28.39 | | 3 | forfeited | -172033 ( 172033 ) | $ 12.53 | | 4 | rsus at december 31 2009 | 1683606 | $ 12.23 |_compensation cost recognized for rsus totaled $ 7.3 million , $ 4.9 million and $ 3.0 million for the years ended december 31 , 2009 , 2008 and 2007 , respectively . as of december 31 , 2009 , there was $ 6.7 million of total unrecognized compensation expense related to nonvested rsus granted under the plan , which is expected to be recognized over a weighted average period of 3.3 years . ( 14 ) financial instruments we are exposed to capital market risk , such as changes in interest rates . in an effort to manage interest rate risk , we may enter into interest rate hedging arrangements from time to time . we do not utilize derivative financial instruments for trading or speculative purposes . in november 2007 , we entered into forward starting interest swaps with notional amounts appropriate to hedge interest rates on $ 300.0 million of anticipated debt offerings in 2009 . the forward starting swaps were appropriately designated and tested for effectiveness as cash flow hedges . in march 2008 , we settled the forward starting swaps and made a cash payment of $ 14.6 million to the counterparties . an effectiveness test was performed as of the settlement date and it was concluded that a highly effective cash flow hedge was still in place for the expected debt offering . of the amount paid in settlement , approximately $ 700000 was immediately reclassified to interest expense , as the result of partial ineffectiveness calculated at the settlement date . the net amount of $ 13.9 million was recorded in other comprehensive income ( 201coci 201d ) and is being recognized through interest expense over the life of the hedged debt offering , which took place in may 2008 . the remaining unamortized amount included as a reduction to accumulated oci as of december 31 , 2009 is $ 9.3 million . in august 2005 , we entered into $ 300.0 million of cash flow hedges through forward starting interest rate swaps to hedge interest rates on $ 300.0 million of anticipated debt offerings in 2007 . the swaps qualified for hedge accounting , with any changes in fair value recorded in oci . in conjunction with the september 2007 issuance of $ 300.0 million of senior unsecured notes , we terminated these cash flow hedges as designated . the settlement amount received of $ 10.7 million is being recognized to earnings through a reduction of interest expense over the term of the hedged cash flows . the remaining unamortized amount included as an increase to accumulated oci as of december 31 , 2009 is $ 8.2 million . the ineffective portion of the hedge was insignificant . the effectiveness of our hedges is evaluated throughout their lives using the hypothetical derivative method under which the change in fair value of the actual swap designated as the hedging instrument is compared to the change in fair value of a hypothetical swap . we had no material interest rate derivatives , when considering both fair value and notional amount , at december 31 , 2009. .

2,009

72

DRE

Duke Realty Corporation

Real Estate

Industrial REITs

Indianapolis, IN

2004-01-01

783,280

1972

null

finqa230

what was the percentage total return for delphi automotive plc for the five years ended december 31 2014?\\n

250.82%

divide(subtract(350.82, const_100), const_100)

stock performance graph * $ 100 invested on 11/17/11 in our stock or 10/31/11 in the relevant index , including reinvestment of dividends . fiscal year ending december 31 , 2014 . ( 1 ) delphi automotive plc ( 2 ) s&p 500 2013 standard & poor 2019s 500 total return index ( 3 ) automotive supplier peer group 2013 russell 3000 auto parts index , including american axle & manufacturing , borgwarner inc. , cooper tire & rubber company , dana holding corp. , delphi automotive plc , dorman products inc. , federal-mogul corp. , ford motor co. , fuel systems solutions inc. , general motors co. , gentex corp. , gentherm inc. , genuine parts co. , johnson controls inc. , lkq corp. , lear corp. , meritor inc. , remy international inc. , standard motor products inc. , stoneridge inc. , superior industries international , trw automotive holdings corp. , tenneco inc. , tesla motors inc. , the goodyear tire & rubber co. , tower international inc. , visteon corp. , and wabco holdings inc . company index november 17 , december 31 , december 31 , december 31 , december 31 .

dividends on february 26 , 2013 , the board of directors approved the initiation of dividend payments on the company's ordinary shares . the board of directors declared a regular quarterly cash dividend of $ 0.17 per ordinary share that was paid in each quarter of 2013 . in january 2014 , the board of directors increased the quarterly dividend rate to $ 0.25 per ordinary share , which was paid in each quarter of 2014 . in addition , in january 2015 , the board of directors declared a regular quarterly cash dividend of $ 0.25 per ordinary share , payable on february 27 , 2015 to shareholders of record at the close of business on february 18 , 2015. .

| | company index | november 17 2011 | december 31 2011 | december 31 2012 | december 31 2013 | december 31 2014 | |---:|:-------------------------------------|:-------------------|:-------------------|:-------------------|:-------------------|:-------------------| | 0 | delphi automotive plc ( 1 ) | $ 100.00 | $ 100.98 | $ 179.33 | $ 285.81 | $ 350.82 | | 1 | s&p 500 ( 2 ) | 100.00 | 100.80 | 116.93 | 154.80 | 175.99 | | 2 | automotive supplier peer group ( 3 ) | 100.00 | 89.27 | 110.41 | 166.46 | 178.05 |

stock performance graph * $ 100 invested on 11/17/11 in our stock or 10/31/11 in the relevant index , including reinvestment of dividends . fiscal year ending december 31 , 2014 . ( 1 ) delphi automotive plc ( 2 ) s&p 500 2013 standard & poor 2019s 500 total return index ( 3 ) automotive supplier peer group 2013 russell 3000 auto parts index , including american axle & manufacturing , borgwarner inc. , cooper tire & rubber company , dana holding corp. , delphi automotive plc , dorman products inc. , federal-mogul corp. , ford motor co. , fuel systems solutions inc. , general motors co. , gentex corp. , gentherm inc. , genuine parts co. , johnson controls inc. , lkq corp. , lear corp. , meritor inc. , remy international inc. , standard motor products inc. , stoneridge inc. , superior industries international , trw automotive holdings corp. , tenneco inc. , tesla motors inc. , the goodyear tire & rubber co. , tower international inc. , visteon corp. , and wabco holdings inc . company index november 17 , december 31 , december 31 , december 31 , december 31 ._| | company index | november 17 2011 | december 31 2011 | december 31 2012 | december 31 2013 | december 31 2014 | |---:|:-------------------------------------|:-------------------|:-------------------|:-------------------|:-------------------|:-------------------| | 0 | delphi automotive plc ( 1 ) | $ 100.00 | $ 100.98 | $ 179.33 | $ 285.81 | $ 350.82 | | 1 | s&p 500 ( 2 ) | 100.00 | 100.80 | 116.93 | 154.80 | 175.99 | | 2 | automotive supplier peer group ( 3 ) | 100.00 | 89.27 | 110.41 | 166.46 | 178.05 |_dividends on february 26 , 2013 , the board of directors approved the initiation of dividend payments on the company's ordinary shares . the board of directors declared a regular quarterly cash dividend of $ 0.17 per ordinary share that was paid in each quarter of 2013 . in january 2014 , the board of directors increased the quarterly dividend rate to $ 0.25 per ordinary share , which was paid in each quarter of 2014 . in addition , in january 2015 , the board of directors declared a regular quarterly cash dividend of $ 0.25 per ordinary share , payable on february 27 , 2015 to shareholders of record at the close of business on february 18 , 2015. .

2,014

49

APTV

Aptiv

Consumer Discretionary

Automotive Parts & Equipment

Dublin, Ireland

2012-12-24

1,521,332

1994

what was the percentage total return for delphi automotive plc for the five years ended december 31 2014?\\n

250.82%

divide(subtract(350.82, const_100), const_100)

stock performance graph * $ 100 invested on 11/17/11 in our stock or 10/31/11 in the relevant index , including reinvestment of dividends . fiscal year ending december 31 , 2014 . ( 1 ) delphi automotive plc ( 2 ) s&p 500 2013 standard & poor 2019s 500 total return index ( 3 ) automotive supplier peer group 2013 russell 3000 auto parts index , including american axle & manufacturing , borgwarner inc. , cooper tire & rubber company , dana holding corp. , delphi automotive plc , dorman products inc. , federal-mogul corp. , ford motor co. , fuel systems solutions inc. , general motors co. , gentex corp. , gentherm inc. , genuine parts co. , johnson controls inc. , lkq corp. , lear corp. , meritor inc. , remy international inc. , standard motor products inc. , stoneridge inc. , superior industries international , trw automotive holdings corp. , tenneco inc. , tesla motors inc. , the goodyear tire & rubber co. , tower international inc. , visteon corp. , and wabco holdings inc . company index november 17 , december 31 , december 31 , december 31 , december 31 .

dividends on february 26 , 2013 , the board of directors approved the initiation of dividend payments on the company's ordinary shares . the board of directors declared a regular quarterly cash dividend of $ 0.17 per ordinary share that was paid in each quarter of 2013 . in january 2014 , the board of directors increased the quarterly dividend rate to $ 0.25 per ordinary share , which was paid in each quarter of 2014 . in addition , in january 2015 , the board of directors declared a regular quarterly cash dividend of $ 0.25 per ordinary share , payable on february 27 , 2015 to shareholders of record at the close of business on february 18 , 2015. .

| | company index | november 17 2011 | december 31 2011 | december 31 2012 | december 31 2013 | december 31 2014 | |---:|:-------------------------------------|:-------------------|:-------------------|:-------------------|:-------------------|:-------------------| | 0 | delphi automotive plc ( 1 ) | $ 100.00 | $ 100.98 | $ 179.33 | $ 285.81 | $ 350.82 | | 1 | s&p 500 ( 2 ) | 100.00 | 100.80 | 116.93 | 154.80 | 175.99 | | 2 | automotive supplier peer group ( 3 ) | 100.00 | 89.27 | 110.41 | 166.46 | 178.05 |

stock performance graph * $ 100 invested on 11/17/11 in our stock or 10/31/11 in the relevant index , including reinvestment of dividends . fiscal year ending december 31 , 2014 . ( 1 ) delphi automotive plc ( 2 ) s&p 500 2013 standard & poor 2019s 500 total return index ( 3 ) automotive supplier peer group 2013 russell 3000 auto parts index , including american axle & manufacturing , borgwarner inc. , cooper tire & rubber company , dana holding corp. , delphi automotive plc , dorman products inc. , federal-mogul corp. , ford motor co. , fuel systems solutions inc. , general motors co. , gentex corp. , gentherm inc. , genuine parts co. , johnson controls inc. , lkq corp. , lear corp. , meritor inc. , remy international inc. , standard motor products inc. , stoneridge inc. , superior industries international , trw automotive holdings corp. , tenneco inc. , tesla motors inc. , the goodyear tire & rubber co. , tower international inc. , visteon corp. , and wabco holdings inc . company index november 17 , december 31 , december 31 , december 31 , december 31 ._| | company index | november 17 2011 | december 31 2011 | december 31 2012 | december 31 2013 | december 31 2014 | |---:|:-------------------------------------|:-------------------|:-------------------|:-------------------|:-------------------|:-------------------| | 0 | delphi automotive plc ( 1 ) | $ 100.00 | $ 100.98 | $ 179.33 | $ 285.81 | $ 350.82 | | 1 | s&p 500 ( 2 ) | 100.00 | 100.80 | 116.93 | 154.80 | 175.99 | | 2 | automotive supplier peer group ( 3 ) | 100.00 | 89.27 | 110.41 | 166.46 | 178.05 |_dividends on february 26 , 2013 , the board of directors approved the initiation of dividend payments on the company's ordinary shares . the board of directors declared a regular quarterly cash dividend of $ 0.17 per ordinary share that was paid in each quarter of 2013 . in january 2014 , the board of directors increased the quarterly dividend rate to $ 0.25 per ordinary share , which was paid in each quarter of 2014 . in addition , in january 2015 , the board of directors declared a regular quarterly cash dividend of $ 0.25 per ordinary share , payable on february 27 , 2015 to shareholders of record at the close of business on february 18 , 2015. .

2,014

49

APTV

Aptiv

Consumer Discretionary

Automotive Parts & Equipment

Dublin, Ireland

2012-12-24

1,521,332

1994

null

finqa231

what was the percentage change in net income ( loss ) on a pro forma basis between 2006 and 2007?

145%

divide(subtract(17388, -38957), 38957)

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

what was the percentage change in net income ( loss ) on a pro forma basis between 2006 and 2007?

145%

divide(subtract(17388, -38957), 38957)

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

finqa232

what percent did the balance increase between the beginning of 2010 and the end of 2012?

41.75%

subtract(divide(404, 285), 1)

19 . income taxes ( continued ) capital loss carryforwards of $ 69 million and $ 90 million , which were acquired in the bgi transaction and will expire on or before 2013 . at december 31 , 2012 and 2011 , the company had $ 95 million and $ 95 million of valuation allowances for deferred income tax assets , respectively , recorded on the consolidated statements of financial condition . the year- over-year increase in the valuation allowance primarily related to certain foreign deferred income tax assets . goodwill recorded in connection with the quellos transaction has been reduced during the period by the amount of tax benefit realized from tax-deductible goodwill . see note 9 , goodwill , for further discussion . current income taxes are recorded net in the consolidated statements of financial condition when related to the same tax jurisdiction . as of december 31 , 2012 , the company had current income taxes receivable and payable of $ 102 million and $ 121 million , respectively , recorded in other assets and accounts payable and accrued liabilities , respectively . as of december 31 , 2011 , the company had current income taxes receivable and payable of $ 108 million and $ 102 million , respectively , recorded in other assets and accounts payable and accrued liabilities , respectively . the company does not provide deferred taxes on the excess of the financial reporting over tax basis on its investments in foreign subsidiaries that are essentially permanent in duration . the excess totaled $ 2125 million and $ 1516 million as of december 31 , 2012 and 2011 , respectively . the determination of the additional deferred income taxes on the excess has not been provided because it is not practicable due to the complexities associated with its hypothetical calculation . the following tabular reconciliation presents the total amounts of gross unrecognized tax benefits : year ended december 31 , ( dollar amounts in millions ) 2012 2011 2010 .

included in the balance of unrecognized tax benefits at december 31 , 2012 , 2011 and 2010 , respectively , are $ 250 million , $ 226 million and $ 194 million of tax benefits that , if recognized , would affect the effective tax rate . the company recognizes interest and penalties related to income tax matters as a component of income tax expense . related to the unrecognized tax benefits noted above , the company accrued interest and penalties of $ 3 million during 2012 and in total , as of december 31 , 2012 , had recognized a liability for interest and penalties of $ 69 million . the company accrued interest and penalties of $ 10 million during 2011 and in total , as of december 31 , 2011 , had recognized a liability for interest and penalties of $ 66 million . the company accrued interest and penalties of $ 8 million during 2010 and in total , as of december 31 , 2010 , had recognized a liability for interest and penalties of $ 56 million . pursuant to the amended and restated stock purchase agreement , the company has been indemnified by barclays for $ 73 million and guggenheim for $ 6 million of unrecognized tax benefits . blackrock is subject to u.s . federal income tax , state and local income tax , and foreign income tax in multiple jurisdictions . tax years after 2007 remain open to u.s . federal income tax examination , tax years after 2005 remain open to state and local income tax examination , and tax years after 2006 remain open to income tax examination in the united kingdom . with few exceptions , as of december 31 , 2012 , the company is no longer subject to u.s . federal , state , local or foreign examinations by tax authorities for years before 2006 . the internal revenue service ( 201cirs 201d ) completed its examination of blackrock 2019s 2006 and 2007 tax years in march 2011 . in november 2011 , the irs commenced its examination of blackrock 2019s 2008 and 2009 tax years , and while the impact on the consolidated financial statements is undetermined , it is not expected to be material . in july 2011 , the irs commenced its federal income tax audit of the bgi group , which blackrock acquired in december 2009 . the tax years under examination are 2007 through december 1 , 2009 , and while the impact on the consolidated financial statements is undetermined , it is not expected to be material . the company is currently under audit in several state and local jurisdictions . the significant state and local income tax examinations are in california for tax years 2004 through 2006 , new york city for tax years 2007 through 2008 , and new jersey for tax years 2003 through 2009 . no state and local income tax audits cover years earlier than 2007 except for california , new jersey and new york city . no state and local income tax audits are expected to result in an assessment material to the consolidated financial statements. .

| | ( dollar amounts in millions ) | year ended december 31 , 2012 | year ended december 31 , 2011 | year ended december 31 , 2010 | |---:|:---------------------------------------------------------|:--------------------------------|:--------------------------------|:--------------------------------| | 0 | balance at january 1 | $ 349 | $ 307 | $ 285 | | 1 | additions for tax positions of prior years | 4 | 22 | 10 | | 2 | reductions for tax positions of prior years | -1 ( 1 ) | -1 ( 1 ) | -17 ( 17 ) | | 3 | additions based on tax positions related to current year | 69 | 46 | 35 | | 4 | lapse of statute of limitations | 2014 | 2014 | -8 ( 8 ) | | 5 | settlements | -29 ( 29 ) | -25 ( 25 ) | -2 ( 2 ) | | 6 | positions assumed in acquisitions | 12 | 2014 | 4 | | 7 | balance at december 31 | $ 404 | $ 349 | $ 307 |

19 . income taxes ( continued ) capital loss carryforwards of $ 69 million and $ 90 million , which were acquired in the bgi transaction and will expire on or before 2013 . at december 31 , 2012 and 2011 , the company had $ 95 million and $ 95 million of valuation allowances for deferred income tax assets , respectively , recorded on the consolidated statements of financial condition . the year- over-year increase in the valuation allowance primarily related to certain foreign deferred income tax assets . goodwill recorded in connection with the quellos transaction has been reduced during the period by the amount of tax benefit realized from tax-deductible goodwill . see note 9 , goodwill , for further discussion . current income taxes are recorded net in the consolidated statements of financial condition when related to the same tax jurisdiction . as of december 31 , 2012 , the company had current income taxes receivable and payable of $ 102 million and $ 121 million , respectively , recorded in other assets and accounts payable and accrued liabilities , respectively . as of december 31 , 2011 , the company had current income taxes receivable and payable of $ 108 million and $ 102 million , respectively , recorded in other assets and accounts payable and accrued liabilities , respectively . the company does not provide deferred taxes on the excess of the financial reporting over tax basis on its investments in foreign subsidiaries that are essentially permanent in duration . the excess totaled $ 2125 million and $ 1516 million as of december 31 , 2012 and 2011 , respectively . the determination of the additional deferred income taxes on the excess has not been provided because it is not practicable due to the complexities associated with its hypothetical calculation . the following tabular reconciliation presents the total amounts of gross unrecognized tax benefits : year ended december 31 , ( dollar amounts in millions ) 2012 2011 2010 ._| | ( dollar amounts in millions ) | year ended december 31 , 2012 | year ended december 31 , 2011 | year ended december 31 , 2010 | |---:|:---------------------------------------------------------|:--------------------------------|:--------------------------------|:--------------------------------| | 0 | balance at january 1 | $ 349 | $ 307 | $ 285 | | 1 | additions for tax positions of prior years | 4 | 22 | 10 | | 2 | reductions for tax positions of prior years | -1 ( 1 ) | -1 ( 1 ) | -17 ( 17 ) | | 3 | additions based on tax positions related to current year | 69 | 46 | 35 | | 4 | lapse of statute of limitations | 2014 | 2014 | -8 ( 8 ) | | 5 | settlements | -29 ( 29 ) | -25 ( 25 ) | -2 ( 2 ) | | 6 | positions assumed in acquisitions | 12 | 2014 | 4 | | 7 | balance at december 31 | $ 404 | $ 349 | $ 307 |_included in the balance of unrecognized tax benefits at december 31 , 2012 , 2011 and 2010 , respectively , are $ 250 million , $ 226 million and $ 194 million of tax benefits that , if recognized , would affect the effective tax rate . the company recognizes interest and penalties related to income tax matters as a component of income tax expense . related to the unrecognized tax benefits noted above , the company accrued interest and penalties of $ 3 million during 2012 and in total , as of december 31 , 2012 , had recognized a liability for interest and penalties of $ 69 million . the company accrued interest and penalties of $ 10 million during 2011 and in total , as of december 31 , 2011 , had recognized a liability for interest and penalties of $ 66 million . the company accrued interest and penalties of $ 8 million during 2010 and in total , as of december 31 , 2010 , had recognized a liability for interest and penalties of $ 56 million . pursuant to the amended and restated stock purchase agreement , the company has been indemnified by barclays for $ 73 million and guggenheim for $ 6 million of unrecognized tax benefits . blackrock is subject to u.s . federal income tax , state and local income tax , and foreign income tax in multiple jurisdictions . tax years after 2007 remain open to u.s . federal income tax examination , tax years after 2005 remain open to state and local income tax examination , and tax years after 2006 remain open to income tax examination in the united kingdom . with few exceptions , as of december 31 , 2012 , the company is no longer subject to u.s . federal , state , local or foreign examinations by tax authorities for years before 2006 . the internal revenue service ( 201cirs 201d ) completed its examination of blackrock 2019s 2006 and 2007 tax years in march 2011 . in november 2011 , the irs commenced its examination of blackrock 2019s 2008 and 2009 tax years , and while the impact on the consolidated financial statements is undetermined , it is not expected to be material . in july 2011 , the irs commenced its federal income tax audit of the bgi group , which blackrock acquired in december 2009 . the tax years under examination are 2007 through december 1 , 2009 , and while the impact on the consolidated financial statements is undetermined , it is not expected to be material . the company is currently under audit in several state and local jurisdictions . the significant state and local income tax examinations are in california for tax years 2004 through 2006 , new york city for tax years 2007 through 2008 , and new jersey for tax years 2003 through 2009 . no state and local income tax audits cover years earlier than 2007 except for california , new jersey and new york city . no state and local income tax audits are expected to result in an assessment material to the consolidated financial statements. .

2,012

160

BLK

BlackRock

Financials

Asset Management & Custody Banks

New York City, New York

2011-04-04

2,012,383

1988

what percent did the balance increase between the beginning of 2010 and the end of 2012?

41.75%

subtract(divide(404, 285), 1)

19 . income taxes ( continued ) capital loss carryforwards of $ 69 million and $ 90 million , which were acquired in the bgi transaction and will expire on or before 2013 . at december 31 , 2012 and 2011 , the company had $ 95 million and $ 95 million of valuation allowances for deferred income tax assets , respectively , recorded on the consolidated statements of financial condition . the year- over-year increase in the valuation allowance primarily related to certain foreign deferred income tax assets . goodwill recorded in connection with the quellos transaction has been reduced during the period by the amount of tax benefit realized from tax-deductible goodwill . see note 9 , goodwill , for further discussion . current income taxes are recorded net in the consolidated statements of financial condition when related to the same tax jurisdiction . as of december 31 , 2012 , the company had current income taxes receivable and payable of $ 102 million and $ 121 million , respectively , recorded in other assets and accounts payable and accrued liabilities , respectively . as of december 31 , 2011 , the company had current income taxes receivable and payable of $ 108 million and $ 102 million , respectively , recorded in other assets and accounts payable and accrued liabilities , respectively . the company does not provide deferred taxes on the excess of the financial reporting over tax basis on its investments in foreign subsidiaries that are essentially permanent in duration . the excess totaled $ 2125 million and $ 1516 million as of december 31 , 2012 and 2011 , respectively . the determination of the additional deferred income taxes on the excess has not been provided because it is not practicable due to the complexities associated with its hypothetical calculation . the following tabular reconciliation presents the total amounts of gross unrecognized tax benefits : year ended december 31 , ( dollar amounts in millions ) 2012 2011 2010 .

included in the balance of unrecognized tax benefits at december 31 , 2012 , 2011 and 2010 , respectively , are $ 250 million , $ 226 million and $ 194 million of tax benefits that , if recognized , would affect the effective tax rate . the company recognizes interest and penalties related to income tax matters as a component of income tax expense . related to the unrecognized tax benefits noted above , the company accrued interest and penalties of $ 3 million during 2012 and in total , as of december 31 , 2012 , had recognized a liability for interest and penalties of $ 69 million . the company accrued interest and penalties of $ 10 million during 2011 and in total , as of december 31 , 2011 , had recognized a liability for interest and penalties of $ 66 million . the company accrued interest and penalties of $ 8 million during 2010 and in total , as of december 31 , 2010 , had recognized a liability for interest and penalties of $ 56 million . pursuant to the amended and restated stock purchase agreement , the company has been indemnified by barclays for $ 73 million and guggenheim for $ 6 million of unrecognized tax benefits . blackrock is subject to u.s . federal income tax , state and local income tax , and foreign income tax in multiple jurisdictions . tax years after 2007 remain open to u.s . federal income tax examination , tax years after 2005 remain open to state and local income tax examination , and tax years after 2006 remain open to income tax examination in the united kingdom . with few exceptions , as of december 31 , 2012 , the company is no longer subject to u.s . federal , state , local or foreign examinations by tax authorities for years before 2006 . the internal revenue service ( 201cirs 201d ) completed its examination of blackrock 2019s 2006 and 2007 tax years in march 2011 . in november 2011 , the irs commenced its examination of blackrock 2019s 2008 and 2009 tax years , and while the impact on the consolidated financial statements is undetermined , it is not expected to be material . in july 2011 , the irs commenced its federal income tax audit of the bgi group , which blackrock acquired in december 2009 . the tax years under examination are 2007 through december 1 , 2009 , and while the impact on the consolidated financial statements is undetermined , it is not expected to be material . the company is currently under audit in several state and local jurisdictions . the significant state and local income tax examinations are in california for tax years 2004 through 2006 , new york city for tax years 2007 through 2008 , and new jersey for tax years 2003 through 2009 . no state and local income tax audits cover years earlier than 2007 except for california , new jersey and new york city . no state and local income tax audits are expected to result in an assessment material to the consolidated financial statements. .

| | ( dollar amounts in millions ) | year ended december 31 , 2012 | year ended december 31 , 2011 | year ended december 31 , 2010 | |---:|:---------------------------------------------------------|:--------------------------------|:--------------------------------|:--------------------------------| | 0 | balance at january 1 | $ 349 | $ 307 | $ 285 | | 1 | additions for tax positions of prior years | 4 | 22 | 10 | | 2 | reductions for tax positions of prior years | -1 ( 1 ) | -1 ( 1 ) | -17 ( 17 ) | | 3 | additions based on tax positions related to current year | 69 | 46 | 35 | | 4 | lapse of statute of limitations | 2014 | 2014 | -8 ( 8 ) | | 5 | settlements | -29 ( 29 ) | -25 ( 25 ) | -2 ( 2 ) | | 6 | positions assumed in acquisitions | 12 | 2014 | 4 | | 7 | balance at december 31 | $ 404 | $ 349 | $ 307 |

19 . income taxes ( continued ) capital loss carryforwards of $ 69 million and $ 90 million , which were acquired in the bgi transaction and will expire on or before 2013 . at december 31 , 2012 and 2011 , the company had $ 95 million and $ 95 million of valuation allowances for deferred income tax assets , respectively , recorded on the consolidated statements of financial condition . the year- over-year increase in the valuation allowance primarily related to certain foreign deferred income tax assets . goodwill recorded in connection with the quellos transaction has been reduced during the period by the amount of tax benefit realized from tax-deductible goodwill . see note 9 , goodwill , for further discussion . current income taxes are recorded net in the consolidated statements of financial condition when related to the same tax jurisdiction . as of december 31 , 2012 , the company had current income taxes receivable and payable of $ 102 million and $ 121 million , respectively , recorded in other assets and accounts payable and accrued liabilities , respectively . as of december 31 , 2011 , the company had current income taxes receivable and payable of $ 108 million and $ 102 million , respectively , recorded in other assets and accounts payable and accrued liabilities , respectively . the company does not provide deferred taxes on the excess of the financial reporting over tax basis on its investments in foreign subsidiaries that are essentially permanent in duration . the excess totaled $ 2125 million and $ 1516 million as of december 31 , 2012 and 2011 , respectively . the determination of the additional deferred income taxes on the excess has not been provided because it is not practicable due to the complexities associated with its hypothetical calculation . the following tabular reconciliation presents the total amounts of gross unrecognized tax benefits : year ended december 31 , ( dollar amounts in millions ) 2012 2011 2010 ._| | ( dollar amounts in millions ) | year ended december 31 , 2012 | year ended december 31 , 2011 | year ended december 31 , 2010 | |---:|:---------------------------------------------------------|:--------------------------------|:--------------------------------|:--------------------------------| | 0 | balance at january 1 | $ 349 | $ 307 | $ 285 | | 1 | additions for tax positions of prior years | 4 | 22 | 10 | | 2 | reductions for tax positions of prior years | -1 ( 1 ) | -1 ( 1 ) | -17 ( 17 ) | | 3 | additions based on tax positions related to current year | 69 | 46 | 35 | | 4 | lapse of statute of limitations | 2014 | 2014 | -8 ( 8 ) | | 5 | settlements | -29 ( 29 ) | -25 ( 25 ) | -2 ( 2 ) | | 6 | positions assumed in acquisitions | 12 | 2014 | 4 | | 7 | balance at december 31 | $ 404 | $ 349 | $ 307 |_included in the balance of unrecognized tax benefits at december 31 , 2012 , 2011 and 2010 , respectively , are $ 250 million , $ 226 million and $ 194 million of tax benefits that , if recognized , would affect the effective tax rate . the company recognizes interest and penalties related to income tax matters as a component of income tax expense . related to the unrecognized tax benefits noted above , the company accrued interest and penalties of $ 3 million during 2012 and in total , as of december 31 , 2012 , had recognized a liability for interest and penalties of $ 69 million . the company accrued interest and penalties of $ 10 million during 2011 and in total , as of december 31 , 2011 , had recognized a liability for interest and penalties of $ 66 million . the company accrued interest and penalties of $ 8 million during 2010 and in total , as of december 31 , 2010 , had recognized a liability for interest and penalties of $ 56 million . pursuant to the amended and restated stock purchase agreement , the company has been indemnified by barclays for $ 73 million and guggenheim for $ 6 million of unrecognized tax benefits . blackrock is subject to u.s . federal income tax , state and local income tax , and foreign income tax in multiple jurisdictions . tax years after 2007 remain open to u.s . federal income tax examination , tax years after 2005 remain open to state and local income tax examination , and tax years after 2006 remain open to income tax examination in the united kingdom . with few exceptions , as of december 31 , 2012 , the company is no longer subject to u.s . federal , state , local or foreign examinations by tax authorities for years before 2006 . the internal revenue service ( 201cirs 201d ) completed its examination of blackrock 2019s 2006 and 2007 tax years in march 2011 . in november 2011 , the irs commenced its examination of blackrock 2019s 2008 and 2009 tax years , and while the impact on the consolidated financial statements is undetermined , it is not expected to be material . in july 2011 , the irs commenced its federal income tax audit of the bgi group , which blackrock acquired in december 2009 . the tax years under examination are 2007 through december 1 , 2009 , and while the impact on the consolidated financial statements is undetermined , it is not expected to be material . the company is currently under audit in several state and local jurisdictions . the significant state and local income tax examinations are in california for tax years 2004 through 2006 , new york city for tax years 2007 through 2008 , and new jersey for tax years 2003 through 2009 . no state and local income tax audits cover years earlier than 2007 except for california , new jersey and new york city . no state and local income tax audits are expected to result in an assessment material to the consolidated financial statements. .

2,012

160

BLK

BlackRock

Financials

Asset Management & Custody Banks

New York City, New York

2011-04-04

2,012,383

1988

null

finqa233

what percentage of the total purchase price net of cash acquired is ipr&d ?

29%

divide(53.1, 182.2)

edwards lifesciences corporation notes to consolidated financial statements ( continued ) 7 . acquisitions ( continued ) 12 months after the acquisition date will be disbursed to harpoon medical , inc . 2019s former shareholders . acquisition-related costs of $ 0.4 million were recorded in 201cselling , general , and administrative expenses 201d during the year ended december 31 , 2017 . harpoon medical , inc . is a medical technology company pioneering beating-heart repair for degenerative mitral regurgitation . the company plans to add this technology to its portfolio of mitral and tricuspid repair products . the acquisition was accounted for as a business combination . tangible and intangible assets acquired were recorded based on their estimated fair values at the acquisition date . the excess of the purchase price over the fair value of net assets acquired 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 rates used to determine the fair value of the ipr&d ranged from 18.0% ( 18.0 % ) to 19.0% ( 19.0 % ) . 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 $ 41.4 million of additional research and development expenditures would be incurred prior to the date of product introduction . in the valuation , net cash inflows were modeled to commence in europe in 2018 , and in the united states and japan in 2022 . upon completion of development , the underlying research and development asset will be amortized over its estimated useful life . the results of operations for harpoon medical , inc . 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 harpoon medical , inc . are not material in relation to the consolidated financial statements of the company . valtech cardio ltd . on november 26 , 2016 , the company entered into an agreement and plan of merger to acquire valtech cardio ltd . ( 201cvaltech 201d ) for approximately $ 340.0 million , subject to certain adjustments , with the potential for up to an additional $ 350.0 million in pre-specified milestone-driven payments over the next 10 years . the .

| | current assets | $ 3.6 | |---:|:------------------------------------------|:---------------| | 0 | property and equipment net | 0.3 | | 1 | goodwill | 142.1 | | 2 | ipr&d | 53.1 | | 3 | other assets | 0.1 | | 4 | current liabilities assumed | -0.8 ( 0.8 ) | | 5 | deferred income taxes | -12.7 ( 12.7 ) | | 6 | total purchase price | 185.7 | | 7 | less : cash acquired | -3.5 ( 3.5 ) | | 8 | total purchase price net of cash acquired | $ 182.2 |

edwards lifesciences corporation notes to consolidated financial statements ( continued ) 7 . acquisitions ( continued ) 12 months after the acquisition date will be disbursed to harpoon medical , inc . 2019s former shareholders . acquisition-related costs of $ 0.4 million were recorded in 201cselling , general , and administrative expenses 201d during the year ended december 31 , 2017 . harpoon medical , inc . is a medical technology company pioneering beating-heart repair for degenerative mitral regurgitation . the company plans to add this technology to its portfolio of mitral and tricuspid repair products . the acquisition was accounted for as a business combination . tangible and intangible assets acquired were recorded based on their estimated fair values at the acquisition date . the excess of the purchase price over the fair value of net assets acquired was recorded to goodwill . the following table summarizes the fair values of the assets acquired and liabilities assumed ( in millions ) : ._| | current assets | $ 3.6 | |---:|:------------------------------------------|:---------------| | 0 | property and equipment net | 0.3 | | 1 | goodwill | 142.1 | | 2 | ipr&d | 53.1 | | 3 | other assets | 0.1 | | 4 | current liabilities assumed | -0.8 ( 0.8 ) | | 5 | deferred income taxes | -12.7 ( 12.7 ) | | 6 | total purchase price | 185.7 | | 7 | less : cash acquired | -3.5 ( 3.5 ) | | 8 | total purchase price net of cash acquired | $ 182.2 |_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 rates used to determine the fair value of the ipr&d ranged from 18.0% ( 18.0 % ) to 19.0% ( 19.0 % ) . 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 $ 41.4 million of additional research and development expenditures would be incurred prior to the date of product introduction . in the valuation , net cash inflows were modeled to commence in europe in 2018 , and in the united states and japan in 2022 . upon completion of development , the underlying research and development asset will be amortized over its estimated useful life . the results of operations for harpoon medical , inc . 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 harpoon medical , inc . are not material in relation to the consolidated financial statements of the company . valtech cardio ltd . on november 26 , 2016 , the company entered into an agreement and plan of merger to acquire valtech cardio ltd . ( 201cvaltech 201d ) for approximately $ 340.0 million , subject to certain adjustments , with the potential for up to an additional $ 350.0 million in pre-specified milestone-driven payments over the next 10 years . the .

2,017

82

EW

Edwards Lifesciences

Health Care

Health Care Equipment

Irvine, California

2011-04-01

1,099,800

1958

what percentage of the total purchase price net of cash acquired is ipr&d ?

29%

divide(53.1, 182.2)

edwards lifesciences corporation notes to consolidated financial statements ( continued ) 7 . acquisitions ( continued ) 12 months after the acquisition date will be disbursed to harpoon medical , inc . 2019s former shareholders . acquisition-related costs of $ 0.4 million were recorded in 201cselling , general , and administrative expenses 201d during the year ended december 31 , 2017 . harpoon medical , inc . is a medical technology company pioneering beating-heart repair for degenerative mitral regurgitation . the company plans to add this technology to its portfolio of mitral and tricuspid repair products . the acquisition was accounted for as a business combination . tangible and intangible assets acquired were recorded based on their estimated fair values at the acquisition date . the excess of the purchase price over the fair value of net assets acquired 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 rates used to determine the fair value of the ipr&d ranged from 18.0% ( 18.0 % ) to 19.0% ( 19.0 % ) . 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 $ 41.4 million of additional research and development expenditures would be incurred prior to the date of product introduction . in the valuation , net cash inflows were modeled to commence in europe in 2018 , and in the united states and japan in 2022 . upon completion of development , the underlying research and development asset will be amortized over its estimated useful life . the results of operations for harpoon medical , inc . 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 harpoon medical , inc . are not material in relation to the consolidated financial statements of the company . valtech cardio ltd . on november 26 , 2016 , the company entered into an agreement and plan of merger to acquire valtech cardio ltd . ( 201cvaltech 201d ) for approximately $ 340.0 million , subject to certain adjustments , with the potential for up to an additional $ 350.0 million in pre-specified milestone-driven payments over the next 10 years . the .

| | current assets | $ 3.6 | |---:|:------------------------------------------|:---------------| | 0 | property and equipment net | 0.3 | | 1 | goodwill | 142.1 | | 2 | ipr&d | 53.1 | | 3 | other assets | 0.1 | | 4 | current liabilities assumed | -0.8 ( 0.8 ) | | 5 | deferred income taxes | -12.7 ( 12.7 ) | | 6 | total purchase price | 185.7 | | 7 | less : cash acquired | -3.5 ( 3.5 ) | | 8 | total purchase price net of cash acquired | $ 182.2 |

edwards lifesciences corporation notes to consolidated financial statements ( continued ) 7 . acquisitions ( continued ) 12 months after the acquisition date will be disbursed to harpoon medical , inc . 2019s former shareholders . acquisition-related costs of $ 0.4 million were recorded in 201cselling , general , and administrative expenses 201d during the year ended december 31 , 2017 . harpoon medical , inc . is a medical technology company pioneering beating-heart repair for degenerative mitral regurgitation . the company plans to add this technology to its portfolio of mitral and tricuspid repair products . the acquisition was accounted for as a business combination . tangible and intangible assets acquired were recorded based on their estimated fair values at the acquisition date . the excess of the purchase price over the fair value of net assets acquired was recorded to goodwill . the following table summarizes the fair values of the assets acquired and liabilities assumed ( in millions ) : ._| | current assets | $ 3.6 | |---:|:------------------------------------------|:---------------| | 0 | property and equipment net | 0.3 | | 1 | goodwill | 142.1 | | 2 | ipr&d | 53.1 | | 3 | other assets | 0.1 | | 4 | current liabilities assumed | -0.8 ( 0.8 ) | | 5 | deferred income taxes | -12.7 ( 12.7 ) | | 6 | total purchase price | 185.7 | | 7 | less : cash acquired | -3.5 ( 3.5 ) | | 8 | total purchase price net of cash acquired | $ 182.2 |_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 rates used to determine the fair value of the ipr&d ranged from 18.0% ( 18.0 % ) to 19.0% ( 19.0 % ) . 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 $ 41.4 million of additional research and development expenditures would be incurred prior to the date of product introduction . in the valuation , net cash inflows were modeled to commence in europe in 2018 , and in the united states and japan in 2022 . upon completion of development , the underlying research and development asset will be amortized over its estimated useful life . the results of operations for harpoon medical , inc . 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 harpoon medical , inc . are not material in relation to the consolidated financial statements of the company . valtech cardio ltd . on november 26 , 2016 , the company entered into an agreement and plan of merger to acquire valtech cardio ltd . ( 201cvaltech 201d ) for approximately $ 340.0 million , subject to certain adjustments , with the potential for up to an additional $ 350.0 million in pre-specified milestone-driven payments over the next 10 years . the .

2,017

82

EW

Edwards Lifesciences

Health Care

Health Care Equipment

Irvine, California

2011-04-01

1,099,800

1958

null

finqa234

tier 2 capital is what percent of total capital for 2008?

26.3%

divide(48616, 184720)

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)

tier 2 capital is what percent of total capital for 2008?

26.3%

divide(48616, 184720)

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

finqa235

considering the fair market value of plan assets in 2018 , what is its estimated return for 10 years?

8327.41

multiply(4273.1, exp(add(const_1, divide(6.9%, const_100)), 10))

income tax liabilities tax liabilities related to unrecognized tax benefits as of 30 september 2018 were $ 233.6 . these tax liabilities were excluded from the contractual obligations table as it is impractical to determine a cash impact by year given that payments will vary according to changes in tax laws , tax rates , and our operating results . in addition , there are uncertainties in timing of the effective settlement of our uncertain tax positions with respective taxing authorities . however , the contractual obligations table above includes our accrued liability of approximately $ 184 for deemed repatriation tax that is payable over eight years related to the tax act . refer to note 22 , income taxes , to the consolidated financial statements for additional information . obligation for future contribution to an equity affiliate on 19 april 2015 , a joint venture between air products and acwa holding entered into a 20-year oxygen and nitrogen supply agreement to supply saudi aramco 2019s oil refinery and power plant being built in jazan , saudi arabia . air products owns 25% ( 25 % ) of the joint venture and guarantees the repayment of its share of an equity bridge loan . in total , we expect to invest approximately $ 100 in this joint venture . as of 30 september 2018 , we recorded a noncurrent liability of $ 94.4 for our obligation to make future equity contributions in 2020 based on our proportionate share of the advances received by the joint venture under the loan . expected investment in joint venture on 12 august 2018 , air products entered an agreement to form a gasification/power joint venture ( "jv" ) with saudi aramco and acwa in jazan , saudi arabia . air products will own at least 55% ( 55 % ) of the jv , with saudi aramco and acwa power owning the balance . the jv will purchase the gasification assets , power block , and the associated utilities from saudi aramco for approximately $ 8 billion . our expected investment has been excluded from the contractual obligations table above pending closing , which is currently expected in fiscal year 2020 . the jv will own and operate the facility under a 25-year contract for a fixed monthly fee . saudi aramco will supply feedstock to the jv , and the jv will produce power , hydrogen and other utilities for saudi aramco . pension benefits the company and certain of its subsidiaries sponsor defined benefit pension plans and defined contribution plans that cover a substantial portion of its worldwide employees . the principal defined benefit pension plans are the u.s . salaried pension plan and the u.k . pension plan . these plans were closed to new participants in 2005 , after which defined contribution plans were offered to new employees . the shift to defined contribution plans is expected to continue to reduce volatility of both plan expense and contributions . the fair market value of plan assets for our defined benefit pension plans as of the 30 september 2018 measurement date decreased to $ 4273.1 from $ 4409.2 at the end of fiscal year 2017 . the projected benefit obligation for these plans was $ 4583.3 and $ 5107.2 at the end of fiscal years 2018 and 2017 , respectively . the net unfunded liability decreased $ 387.8 from $ 698.0 to $ 310.2 , primarily due to higher discount rates and favorable asset experience . refer to note 16 , retirement benefits , to the consolidated financial statements for comprehensive and detailed disclosures on our postretirement benefits . pension expense .

.

| | | 2018 | 2017 | 2016 | |---:|:---------------------------------------------------------------------|:---------------|:---------------|:---------------| | 0 | pension expense 2013 continuing operations | $ 91.8 | $ 72.0 | $ 55.8 | | 1 | settlements termination benefits and curtailments ( included above ) | 48.9 | 15.0 | 6.0 | | 2 | weighted average discount rate 2013 service cost | 3.2% ( 3.2 % ) | 2.9% ( 2.9 % ) | 4.1% ( 4.1 % ) | | 3 | weighted average discount rate 2013 interest cost | 2.9% ( 2.9 % ) | 2.5% ( 2.5 % ) | 3.4% ( 3.4 % ) | | 4 | weighted average expected rate of return on plan assets | 6.9% ( 6.9 % ) | 7.4% ( 7.4 % ) | 7.5% ( 7.5 % ) | | 5 | weighted average expected rate of compensation increase | 3.5% ( 3.5 % ) | 3.5% ( 3.5 % ) | 3.5% ( 3.5 % ) |

income tax liabilities tax liabilities related to unrecognized tax benefits as of 30 september 2018 were $ 233.6 . these tax liabilities were excluded from the contractual obligations table as it is impractical to determine a cash impact by year given that payments will vary according to changes in tax laws , tax rates , and our operating results . in addition , there are uncertainties in timing of the effective settlement of our uncertain tax positions with respective taxing authorities . however , the contractual obligations table above includes our accrued liability of approximately $ 184 for deemed repatriation tax that is payable over eight years related to the tax act . refer to note 22 , income taxes , to the consolidated financial statements for additional information . obligation for future contribution to an equity affiliate on 19 april 2015 , a joint venture between air products and acwa holding entered into a 20-year oxygen and nitrogen supply agreement to supply saudi aramco 2019s oil refinery and power plant being built in jazan , saudi arabia . air products owns 25% ( 25 % ) of the joint venture and guarantees the repayment of its share of an equity bridge loan . in total , we expect to invest approximately $ 100 in this joint venture . as of 30 september 2018 , we recorded a noncurrent liability of $ 94.4 for our obligation to make future equity contributions in 2020 based on our proportionate share of the advances received by the joint venture under the loan . expected investment in joint venture on 12 august 2018 , air products entered an agreement to form a gasification/power joint venture ( "jv" ) with saudi aramco and acwa in jazan , saudi arabia . air products will own at least 55% ( 55 % ) of the jv , with saudi aramco and acwa power owning the balance . the jv will purchase the gasification assets , power block , and the associated utilities from saudi aramco for approximately $ 8 billion . our expected investment has been excluded from the contractual obligations table above pending closing , which is currently expected in fiscal year 2020 . the jv will own and operate the facility under a 25-year contract for a fixed monthly fee . saudi aramco will supply feedstock to the jv , and the jv will produce power , hydrogen and other utilities for saudi aramco . pension benefits the company and certain of its subsidiaries sponsor defined benefit pension plans and defined contribution plans that cover a substantial portion of its worldwide employees . the principal defined benefit pension plans are the u.s . salaried pension plan and the u.k . pension plan . these plans were closed to new participants in 2005 , after which defined contribution plans were offered to new employees . the shift to defined contribution plans is expected to continue to reduce volatility of both plan expense and contributions . the fair market value of plan assets for our defined benefit pension plans as of the 30 september 2018 measurement date decreased to $ 4273.1 from $ 4409.2 at the end of fiscal year 2017 . the projected benefit obligation for these plans was $ 4583.3 and $ 5107.2 at the end of fiscal years 2018 and 2017 , respectively . the net unfunded liability decreased $ 387.8 from $ 698.0 to $ 310.2 , primarily due to higher discount rates and favorable asset experience . refer to note 16 , retirement benefits , to the consolidated financial statements for comprehensive and detailed disclosures on our postretirement benefits . pension expense ._| | | 2018 | 2017 | 2016 | |---:|:---------------------------------------------------------------------|:---------------|:---------------|:---------------| | 0 | pension expense 2013 continuing operations | $ 91.8 | $ 72.0 | $ 55.8 | | 1 | settlements termination benefits and curtailments ( included above ) | 48.9 | 15.0 | 6.0 | | 2 | weighted average discount rate 2013 service cost | 3.2% ( 3.2 % ) | 2.9% ( 2.9 % ) | 4.1% ( 4.1 % ) | | 3 | weighted average discount rate 2013 interest cost | 2.9% ( 2.9 % ) | 2.5% ( 2.5 % ) | 3.4% ( 3.4 % ) | | 4 | weighted average expected rate of return on plan assets | 6.9% ( 6.9 % ) | 7.4% ( 7.4 % ) | 7.5% ( 7.5 % ) | | 5 | weighted average expected rate of compensation increase | 3.5% ( 3.5 % ) | 3.5% ( 3.5 % ) | 3.5% ( 3.5 % ) |_.

2,018

59

APD

Air Products

Materials

Industrial Gases

Upper Macungie Township, Pennsylvania

1985-04-30

2,969

1940

considering the fair market value of plan assets in 2018 , what is its estimated return for 10 years?

8327.41

multiply(4273.1, exp(add(const_1, divide(6.9%, const_100)), 10))

income tax liabilities tax liabilities related to unrecognized tax benefits as of 30 september 2018 were $ 233.6 . these tax liabilities were excluded from the contractual obligations table as it is impractical to determine a cash impact by year given that payments will vary according to changes in tax laws , tax rates , and our operating results . in addition , there are uncertainties in timing of the effective settlement of our uncertain tax positions with respective taxing authorities . however , the contractual obligations table above includes our accrued liability of approximately $ 184 for deemed repatriation tax that is payable over eight years related to the tax act . refer to note 22 , income taxes , to the consolidated financial statements for additional information . obligation for future contribution to an equity affiliate on 19 april 2015 , a joint venture between air products and acwa holding entered into a 20-year oxygen and nitrogen supply agreement to supply saudi aramco 2019s oil refinery and power plant being built in jazan , saudi arabia . air products owns 25% ( 25 % ) of the joint venture and guarantees the repayment of its share of an equity bridge loan . in total , we expect to invest approximately $ 100 in this joint venture . as of 30 september 2018 , we recorded a noncurrent liability of $ 94.4 for our obligation to make future equity contributions in 2020 based on our proportionate share of the advances received by the joint venture under the loan . expected investment in joint venture on 12 august 2018 , air products entered an agreement to form a gasification/power joint venture ( "jv" ) with saudi aramco and acwa in jazan , saudi arabia . air products will own at least 55% ( 55 % ) of the jv , with saudi aramco and acwa power owning the balance . the jv will purchase the gasification assets , power block , and the associated utilities from saudi aramco for approximately $ 8 billion . our expected investment has been excluded from the contractual obligations table above pending closing , which is currently expected in fiscal year 2020 . the jv will own and operate the facility under a 25-year contract for a fixed monthly fee . saudi aramco will supply feedstock to the jv , and the jv will produce power , hydrogen and other utilities for saudi aramco . pension benefits the company and certain of its subsidiaries sponsor defined benefit pension plans and defined contribution plans that cover a substantial portion of its worldwide employees . the principal defined benefit pension plans are the u.s . salaried pension plan and the u.k . pension plan . these plans were closed to new participants in 2005 , after which defined contribution plans were offered to new employees . the shift to defined contribution plans is expected to continue to reduce volatility of both plan expense and contributions . the fair market value of plan assets for our defined benefit pension plans as of the 30 september 2018 measurement date decreased to $ 4273.1 from $ 4409.2 at the end of fiscal year 2017 . the projected benefit obligation for these plans was $ 4583.3 and $ 5107.2 at the end of fiscal years 2018 and 2017 , respectively . the net unfunded liability decreased $ 387.8 from $ 698.0 to $ 310.2 , primarily due to higher discount rates and favorable asset experience . refer to note 16 , retirement benefits , to the consolidated financial statements for comprehensive and detailed disclosures on our postretirement benefits . pension expense .

.

| | | 2018 | 2017 | 2016 | |---:|:---------------------------------------------------------------------|:---------------|:---------------|:---------------| | 0 | pension expense 2013 continuing operations | $ 91.8 | $ 72.0 | $ 55.8 | | 1 | settlements termination benefits and curtailments ( included above ) | 48.9 | 15.0 | 6.0 | | 2 | weighted average discount rate 2013 service cost | 3.2% ( 3.2 % ) | 2.9% ( 2.9 % ) | 4.1% ( 4.1 % ) | | 3 | weighted average discount rate 2013 interest cost | 2.9% ( 2.9 % ) | 2.5% ( 2.5 % ) | 3.4% ( 3.4 % ) | | 4 | weighted average expected rate of return on plan assets | 6.9% ( 6.9 % ) | 7.4% ( 7.4 % ) | 7.5% ( 7.5 % ) | | 5 | weighted average expected rate of compensation increase | 3.5% ( 3.5 % ) | 3.5% ( 3.5 % ) | 3.5% ( 3.5 % ) |

income tax liabilities tax liabilities related to unrecognized tax benefits as of 30 september 2018 were $ 233.6 . these tax liabilities were excluded from the contractual obligations table as it is impractical to determine a cash impact by year given that payments will vary according to changes in tax laws , tax rates , and our operating results . in addition , there are uncertainties in timing of the effective settlement of our uncertain tax positions with respective taxing authorities . however , the contractual obligations table above includes our accrued liability of approximately $ 184 for deemed repatriation tax that is payable over eight years related to the tax act . refer to note 22 , income taxes , to the consolidated financial statements for additional information . obligation for future contribution to an equity affiliate on 19 april 2015 , a joint venture between air products and acwa holding entered into a 20-year oxygen and nitrogen supply agreement to supply saudi aramco 2019s oil refinery and power plant being built in jazan , saudi arabia . air products owns 25% ( 25 % ) of the joint venture and guarantees the repayment of its share of an equity bridge loan . in total , we expect to invest approximately $ 100 in this joint venture . as of 30 september 2018 , we recorded a noncurrent liability of $ 94.4 for our obligation to make future equity contributions in 2020 based on our proportionate share of the advances received by the joint venture under the loan . expected investment in joint venture on 12 august 2018 , air products entered an agreement to form a gasification/power joint venture ( "jv" ) with saudi aramco and acwa in jazan , saudi arabia . air products will own at least 55% ( 55 % ) of the jv , with saudi aramco and acwa power owning the balance . the jv will purchase the gasification assets , power block , and the associated utilities from saudi aramco for approximately $ 8 billion . our expected investment has been excluded from the contractual obligations table above pending closing , which is currently expected in fiscal year 2020 . the jv will own and operate the facility under a 25-year contract for a fixed monthly fee . saudi aramco will supply feedstock to the jv , and the jv will produce power , hydrogen and other utilities for saudi aramco . pension benefits the company and certain of its subsidiaries sponsor defined benefit pension plans and defined contribution plans that cover a substantial portion of its worldwide employees . the principal defined benefit pension plans are the u.s . salaried pension plan and the u.k . pension plan . these plans were closed to new participants in 2005 , after which defined contribution plans were offered to new employees . the shift to defined contribution plans is expected to continue to reduce volatility of both plan expense and contributions . the fair market value of plan assets for our defined benefit pension plans as of the 30 september 2018 measurement date decreased to $ 4273.1 from $ 4409.2 at the end of fiscal year 2017 . the projected benefit obligation for these plans was $ 4583.3 and $ 5107.2 at the end of fiscal years 2018 and 2017 , respectively . the net unfunded liability decreased $ 387.8 from $ 698.0 to $ 310.2 , primarily due to higher discount rates and favorable asset experience . refer to note 16 , retirement benefits , to the consolidated financial statements for comprehensive and detailed disclosures on our postretirement benefits . pension expense ._| | | 2018 | 2017 | 2016 | |---:|:---------------------------------------------------------------------|:---------------|:---------------|:---------------| | 0 | pension expense 2013 continuing operations | $ 91.8 | $ 72.0 | $ 55.8 | | 1 | settlements termination benefits and curtailments ( included above ) | 48.9 | 15.0 | 6.0 | | 2 | weighted average discount rate 2013 service cost | 3.2% ( 3.2 % ) | 2.9% ( 2.9 % ) | 4.1% ( 4.1 % ) | | 3 | weighted average discount rate 2013 interest cost | 2.9% ( 2.9 % ) | 2.5% ( 2.5 % ) | 3.4% ( 3.4 % ) | | 4 | weighted average expected rate of return on plan assets | 6.9% ( 6.9 % ) | 7.4% ( 7.4 % ) | 7.5% ( 7.5 % ) | | 5 | weighted average expected rate of compensation increase | 3.5% ( 3.5 % ) | 3.5% ( 3.5 % ) | 3.5% ( 3.5 % ) |_.

2,018

59

APD

Air Products

Materials

Industrial Gases

Upper Macungie Township, Pennsylvania

1985-04-30

2,969

1940

null

finqa236

in 2002 what was the ratio of the net mw in operation to the generation in gwh for the year

2 net mw in operation at december 31 3955 3445 2475\\n3 generation in gwh for the year 29953

divide(3955, 29953)

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

in 2002 what was the ratio of the net mw in operation to the generation in gwh for the year

2 net mw in operation at december 31 3955 3445 2475\\n3 generation in gwh for the year 29953

divide(3955, 29953)

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

finqa237

for 2013 , what was the total in millions of the combined interest only product and principal and interest product?

1542

add(1211, 331)

generally , our variable-rate home equity lines of credit have either a seven or ten year draw period , followed by a 20 year amortization term . during the draw period , we have home equity lines of credit where borrowers pay interest only and home equity lines of credit where borrowers pay principal and interest . based upon outstanding balances at december 31 , 2011 , the following table presents the periods when home equity lines of credit draw periods are scheduled to end . home equity lines of credit - draw period end dates in millions interest only product principal and interest product .

( a ) includes approximately $ 306 million , $ 44 million , $ 60 million , $ 100 million , and $ 246 million of home equity lines of credit with balloon payments with draw periods scheduled to end in 2012 , 2013 , 2014 , 2015 , and 2016 and thereafter , respectively . we view home equity lines of credit where borrowers are paying principal and interest under the draw period as less risky than those where the borrowers are paying interest only , as these borrowers have a demonstrated ability to make some level of principal and interest payments . based upon outstanding balances , and excluding purchased impaired loans , at december 31 , 2011 , for home equity lines of credit for which the borrower can no longer draw ( e.g. , draw period has ended or borrowing privileges have been terminated ) , approximately 4.32% ( 4.32 % ) were 30-89 days past due and approximately 5.57% ( 5.57 % ) were greater than or equal to 90 days past due . generally , when a borrower becomes 60 days past due , we terminate borrowing privileges , and those privileges are not subsequently reinstated . at that point , we continue our collection/recovery processes , which may include a loss mitigation loan modification resulting in a loan that is classified as a tdr . see note 5 asset quality and allowances for loan and lease losses and unfunded loan commitments and letters of credit in the notes to consolidated financial statements in item 8 of this report for additional information . loan modifications and troubled debt restructurings consumer loan modifications we modify loans under government and pnc-developed programs based upon our commitment to help eligible homeowners and borrowers avoid foreclosure , where appropriate . initially , a borrower is evaluated for a modification under a government program . if a borrower does not qualify under a government program , the borrower is then evaluated under a pnc program . our programs utilize both temporary and permanent modifications and typically reduce the interest rate , extend the term and/or defer principal . temporary and permanent modifications under programs involving a change to loan terms are generally classified as tdrs . further , certain payment plans and trial payment arrangements which do not include a contractual change to loan terms may be classified as tdrs . additional detail on tdrs is discussed below as well as in note 5 asset quality and allowances for loan and lease losses and unfunded loan commitments and letters of credit in the notes to consolidated financial statements in item 8 of this report . a temporary modification , with a term between three and 60 months , involves a change in original loan terms for a period of time and reverts to the original loan terms as of a specific date or the occurrence of an event , such as a failure to pay in accordance with the terms of the modification . typically , these modifications are for a period of up to 24 months after which the interest rate reverts to the original loan rate . a permanent modification , with a term greater than 60 months , is a modification in which the terms of the original loan are changed . permanent modifications primarily include the government-created home affordable modification program ( hamp ) or pnc-developed hamp-like modification programs . for consumer loan programs , such as residential mortgages and home equity loans and lines , we will enter into a temporary modification when the borrower has indicated a temporary hardship and a willingness to bring current the delinquent loan balance . examples of this situation often include delinquency due to illness or death in the family , or a loss of employment . permanent modifications are entered into when it is confirmed that the borrower does not possess the income necessary to continue making loan payments at the current amount , but our expectation is that payments at lower amounts can be made . residential mortgage and home equity loans and lines have been modified with changes in terms for up to 60 months , although the majority involve periods of three to 24 months . we also monitor the success rates and delinquency status of our loan modification programs to assess their effectiveness in serving our customers 2019 needs while mitigating credit losses . the following tables provide the number of accounts and unpaid principal balance of modified consumer real estate related loans as well as the number of accounts and unpaid principal balance of modified loans that were 60 days or more past due as of six months , nine months and twelve months after the modification date . 78 the pnc financial services group , inc . 2013 form 10-k .

| | in millions | interest only product | principal and interest product | |---:|:--------------------|:------------------------|:---------------------------------| | 0 | 2012 | $ 904 | $ 266 | | 1 | 2013 | 1211 | 331 | | 2 | 2014 | 2043 | 598 | | 3 | 2015 | 1988 | 820 | | 4 | 2016 and thereafter | 6961 | 5601 | | 5 | total ( a ) | $ 13107 | $ 7616 |

generally , our variable-rate home equity lines of credit have either a seven or ten year draw period , followed by a 20 year amortization term . during the draw period , we have home equity lines of credit where borrowers pay interest only and home equity lines of credit where borrowers pay principal and interest . based upon outstanding balances at december 31 , 2011 , the following table presents the periods when home equity lines of credit draw periods are scheduled to end . home equity lines of credit - draw period end dates in millions interest only product principal and interest product ._| | in millions | interest only product | principal and interest product | |---:|:--------------------|:------------------------|:---------------------------------| | 0 | 2012 | $ 904 | $ 266 | | 1 | 2013 | 1211 | 331 | | 2 | 2014 | 2043 | 598 | | 3 | 2015 | 1988 | 820 | | 4 | 2016 and thereafter | 6961 | 5601 | | 5 | total ( a ) | $ 13107 | $ 7616 |_( a ) includes approximately $ 306 million , $ 44 million , $ 60 million , $ 100 million , and $ 246 million of home equity lines of credit with balloon payments with draw periods scheduled to end in 2012 , 2013 , 2014 , 2015 , and 2016 and thereafter , respectively . we view home equity lines of credit where borrowers are paying principal and interest under the draw period as less risky than those where the borrowers are paying interest only , as these borrowers have a demonstrated ability to make some level of principal and interest payments . based upon outstanding balances , and excluding purchased impaired loans , at december 31 , 2011 , for home equity lines of credit for which the borrower can no longer draw ( e.g. , draw period has ended or borrowing privileges have been terminated ) , approximately 4.32% ( 4.32 % ) were 30-89 days past due and approximately 5.57% ( 5.57 % ) were greater than or equal to 90 days past due . generally , when a borrower becomes 60 days past due , we terminate borrowing privileges , and those privileges are not subsequently reinstated . at that point , we continue our collection/recovery processes , which may include a loss mitigation loan modification resulting in a loan that is classified as a tdr . see note 5 asset quality and allowances for loan and lease losses and unfunded loan commitments and letters of credit in the notes to consolidated financial statements in item 8 of this report for additional information . loan modifications and troubled debt restructurings consumer loan modifications we modify loans under government and pnc-developed programs based upon our commitment to help eligible homeowners and borrowers avoid foreclosure , where appropriate . initially , a borrower is evaluated for a modification under a government program . if a borrower does not qualify under a government program , the borrower is then evaluated under a pnc program . our programs utilize both temporary and permanent modifications and typically reduce the interest rate , extend the term and/or defer principal . temporary and permanent modifications under programs involving a change to loan terms are generally classified as tdrs . further , certain payment plans and trial payment arrangements which do not include a contractual change to loan terms may be classified as tdrs . additional detail on tdrs is discussed below as well as in note 5 asset quality and allowances for loan and lease losses and unfunded loan commitments and letters of credit in the notes to consolidated financial statements in item 8 of this report . a temporary modification , with a term between three and 60 months , involves a change in original loan terms for a period of time and reverts to the original loan terms as of a specific date or the occurrence of an event , such as a failure to pay in accordance with the terms of the modification . typically , these modifications are for a period of up to 24 months after which the interest rate reverts to the original loan rate . a permanent modification , with a term greater than 60 months , is a modification in which the terms of the original loan are changed . permanent modifications primarily include the government-created home affordable modification program ( hamp ) or pnc-developed hamp-like modification programs . for consumer loan programs , such as residential mortgages and home equity loans and lines , we will enter into a temporary modification when the borrower has indicated a temporary hardship and a willingness to bring current the delinquent loan balance . examples of this situation often include delinquency due to illness or death in the family , or a loss of employment . permanent modifications are entered into when it is confirmed that the borrower does not possess the income necessary to continue making loan payments at the current amount , but our expectation is that payments at lower amounts can be made . residential mortgage and home equity loans and lines have been modified with changes in terms for up to 60 months , although the majority involve periods of three to 24 months . we also monitor the success rates and delinquency status of our loan modification programs to assess their effectiveness in serving our customers 2019 needs while mitigating credit losses . the following tables provide the number of accounts and unpaid principal balance of modified consumer real estate related loans as well as the number of accounts and unpaid principal balance of modified loans that were 60 days or more past due as of six months , nine months and twelve months after the modification date . 78 the pnc financial services group , inc . 2013 form 10-k .

2,011

87

PNC

PNC Financial Services

Financials

Diversified Banks

Pittsburgh, Pennsylvania

1988-04-30

713,676

1845

for 2013 , what was the total in millions of the combined interest only product and principal and interest product?

1542

add(1211, 331)

generally , our variable-rate home equity lines of credit have either a seven or ten year draw period , followed by a 20 year amortization term . during the draw period , we have home equity lines of credit where borrowers pay interest only and home equity lines of credit where borrowers pay principal and interest . based upon outstanding balances at december 31 , 2011 , the following table presents the periods when home equity lines of credit draw periods are scheduled to end . home equity lines of credit - draw period end dates in millions interest only product principal and interest product .

( a ) includes approximately $ 306 million , $ 44 million , $ 60 million , $ 100 million , and $ 246 million of home equity lines of credit with balloon payments with draw periods scheduled to end in 2012 , 2013 , 2014 , 2015 , and 2016 and thereafter , respectively . we view home equity lines of credit where borrowers are paying principal and interest under the draw period as less risky than those where the borrowers are paying interest only , as these borrowers have a demonstrated ability to make some level of principal and interest payments . based upon outstanding balances , and excluding purchased impaired loans , at december 31 , 2011 , for home equity lines of credit for which the borrower can no longer draw ( e.g. , draw period has ended or borrowing privileges have been terminated ) , approximately 4.32% ( 4.32 % ) were 30-89 days past due and approximately 5.57% ( 5.57 % ) were greater than or equal to 90 days past due . generally , when a borrower becomes 60 days past due , we terminate borrowing privileges , and those privileges are not subsequently reinstated . at that point , we continue our collection/recovery processes , which may include a loss mitigation loan modification resulting in a loan that is classified as a tdr . see note 5 asset quality and allowances for loan and lease losses and unfunded loan commitments and letters of credit in the notes to consolidated financial statements in item 8 of this report for additional information . loan modifications and troubled debt restructurings consumer loan modifications we modify loans under government and pnc-developed programs based upon our commitment to help eligible homeowners and borrowers avoid foreclosure , where appropriate . initially , a borrower is evaluated for a modification under a government program . if a borrower does not qualify under a government program , the borrower is then evaluated under a pnc program . our programs utilize both temporary and permanent modifications and typically reduce the interest rate , extend the term and/or defer principal . temporary and permanent modifications under programs involving a change to loan terms are generally classified as tdrs . further , certain payment plans and trial payment arrangements which do not include a contractual change to loan terms may be classified as tdrs . additional detail on tdrs is discussed below as well as in note 5 asset quality and allowances for loan and lease losses and unfunded loan commitments and letters of credit in the notes to consolidated financial statements in item 8 of this report . a temporary modification , with a term between three and 60 months , involves a change in original loan terms for a period of time and reverts to the original loan terms as of a specific date or the occurrence of an event , such as a failure to pay in accordance with the terms of the modification . typically , these modifications are for a period of up to 24 months after which the interest rate reverts to the original loan rate . a permanent modification , with a term greater than 60 months , is a modification in which the terms of the original loan are changed . permanent modifications primarily include the government-created home affordable modification program ( hamp ) or pnc-developed hamp-like modification programs . for consumer loan programs , such as residential mortgages and home equity loans and lines , we will enter into a temporary modification when the borrower has indicated a temporary hardship and a willingness to bring current the delinquent loan balance . examples of this situation often include delinquency due to illness or death in the family , or a loss of employment . permanent modifications are entered into when it is confirmed that the borrower does not possess the income necessary to continue making loan payments at the current amount , but our expectation is that payments at lower amounts can be made . residential mortgage and home equity loans and lines have been modified with changes in terms for up to 60 months , although the majority involve periods of three to 24 months . we also monitor the success rates and delinquency status of our loan modification programs to assess their effectiveness in serving our customers 2019 needs while mitigating credit losses . the following tables provide the number of accounts and unpaid principal balance of modified consumer real estate related loans as well as the number of accounts and unpaid principal balance of modified loans that were 60 days or more past due as of six months , nine months and twelve months after the modification date . 78 the pnc financial services group , inc . 2013 form 10-k .

| | in millions | interest only product | principal and interest product | |---:|:--------------------|:------------------------|:---------------------------------| | 0 | 2012 | $ 904 | $ 266 | | 1 | 2013 | 1211 | 331 | | 2 | 2014 | 2043 | 598 | | 3 | 2015 | 1988 | 820 | | 4 | 2016 and thereafter | 6961 | 5601 | | 5 | total ( a ) | $ 13107 | $ 7616 |

generally , our variable-rate home equity lines of credit have either a seven or ten year draw period , followed by a 20 year amortization term . during the draw period , we have home equity lines of credit where borrowers pay interest only and home equity lines of credit where borrowers pay principal and interest . based upon outstanding balances at december 31 , 2011 , the following table presents the periods when home equity lines of credit draw periods are scheduled to end . home equity lines of credit - draw period end dates in millions interest only product principal and interest product ._| | in millions | interest only product | principal and interest product | |---:|:--------------------|:------------------------|:---------------------------------| | 0 | 2012 | $ 904 | $ 266 | | 1 | 2013 | 1211 | 331 | | 2 | 2014 | 2043 | 598 | | 3 | 2015 | 1988 | 820 | | 4 | 2016 and thereafter | 6961 | 5601 | | 5 | total ( a ) | $ 13107 | $ 7616 |_( a ) includes approximately $ 306 million , $ 44 million , $ 60 million , $ 100 million , and $ 246 million of home equity lines of credit with balloon payments with draw periods scheduled to end in 2012 , 2013 , 2014 , 2015 , and 2016 and thereafter , respectively . we view home equity lines of credit where borrowers are paying principal and interest under the draw period as less risky than those where the borrowers are paying interest only , as these borrowers have a demonstrated ability to make some level of principal and interest payments . based upon outstanding balances , and excluding purchased impaired loans , at december 31 , 2011 , for home equity lines of credit for which the borrower can no longer draw ( e.g. , draw period has ended or borrowing privileges have been terminated ) , approximately 4.32% ( 4.32 % ) were 30-89 days past due and approximately 5.57% ( 5.57 % ) were greater than or equal to 90 days past due . generally , when a borrower becomes 60 days past due , we terminate borrowing privileges , and those privileges are not subsequently reinstated . at that point , we continue our collection/recovery processes , which may include a loss mitigation loan modification resulting in a loan that is classified as a tdr . see note 5 asset quality and allowances for loan and lease losses and unfunded loan commitments and letters of credit in the notes to consolidated financial statements in item 8 of this report for additional information . loan modifications and troubled debt restructurings consumer loan modifications we modify loans under government and pnc-developed programs based upon our commitment to help eligible homeowners and borrowers avoid foreclosure , where appropriate . initially , a borrower is evaluated for a modification under a government program . if a borrower does not qualify under a government program , the borrower is then evaluated under a pnc program . our programs utilize both temporary and permanent modifications and typically reduce the interest rate , extend the term and/or defer principal . temporary and permanent modifications under programs involving a change to loan terms are generally classified as tdrs . further , certain payment plans and trial payment arrangements which do not include a contractual change to loan terms may be classified as tdrs . additional detail on tdrs is discussed below as well as in note 5 asset quality and allowances for loan and lease losses and unfunded loan commitments and letters of credit in the notes to consolidated financial statements in item 8 of this report . a temporary modification , with a term between three and 60 months , involves a change in original loan terms for a period of time and reverts to the original loan terms as of a specific date or the occurrence of an event , such as a failure to pay in accordance with the terms of the modification . typically , these modifications are for a period of up to 24 months after which the interest rate reverts to the original loan rate . a permanent modification , with a term greater than 60 months , is a modification in which the terms of the original loan are changed . permanent modifications primarily include the government-created home affordable modification program ( hamp ) or pnc-developed hamp-like modification programs . for consumer loan programs , such as residential mortgages and home equity loans and lines , we will enter into a temporary modification when the borrower has indicated a temporary hardship and a willingness to bring current the delinquent loan balance . examples of this situation often include delinquency due to illness or death in the family , or a loss of employment . permanent modifications are entered into when it is confirmed that the borrower does not possess the income necessary to continue making loan payments at the current amount , but our expectation is that payments at lower amounts can be made . residential mortgage and home equity loans and lines have been modified with changes in terms for up to 60 months , although the majority involve periods of three to 24 months . we also monitor the success rates and delinquency status of our loan modification programs to assess their effectiveness in serving our customers 2019 needs while mitigating credit losses . the following tables provide the number of accounts and unpaid principal balance of modified consumer real estate related loans as well as the number of accounts and unpaid principal balance of modified loans that were 60 days or more past due as of six months , nine months and twelve months after the modification date . 78 the pnc financial services group , inc . 2013 form 10-k .

2,011

87

PNC

PNC Financial Services

Financials

Diversified Banks

Pittsburgh, Pennsylvania

1988-04-30

713,676

1845

null

finqa238

in 2011 , did the company distribute more to shareholders than debtholders?

yes

greater(284, 197)

are allocated using appropriate statistical bases . total expense for repairs and maintenance incurred was $ 2.2 billion for 2011 , $ 2.0 billion for 2010 , and $ 1.9 billion for 2009 . 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 . 12 . accounts payable and other current liabilities dec . 31 , dec . 31 , millions 2011 2010 .

13 . financial instruments strategy and risk 2013 we may use derivative financial instruments in limited instances for other than trading purposes to assist in managing our overall exposure to fluctuations in interest rates and fuel prices . we are not a party to leveraged derivatives and , by policy , do not use derivative financial instruments for speculative purposes . derivative financial instruments qualifying for hedge accounting must maintain a specified level of effectiveness between the hedging instrument and the item being hedged , both at inception and throughout the hedged period . we formally document the nature and relationships between the hedging instruments and hedged items at inception , as well as our risk- management objectives , strategies for undertaking the various hedge transactions , and method of assessing hedge effectiveness . changes in the fair market value of derivative financial instruments that do not qualify for hedge accounting are charged to earnings . we may use swaps , collars , futures , and/or forward contracts to mitigate the risk of adverse movements in interest rates and fuel prices ; however , the use of these derivative financial instruments may limit future benefits from favorable interest rate and fuel price movements . market and credit risk 2013 we address market risk related to derivative financial instruments by selecting instruments with value fluctuations that highly correlate with the underlying hedged item . we manage credit risk related to derivative financial instruments , which is minimal , by requiring high credit standards for counterparties and periodic settlements . at december 31 , 2011 and 2010 , we were not required to provide collateral , nor had we received collateral , relating to our hedging activities . determination of fair value 2013 we determine the fair values of our derivative financial instrument positions based upon current fair values as quoted by recognized dealers or the present value of expected future cash flows . interest rate fair value hedges 2013 we manage our overall exposure to fluctuations in interest rates by adjusting the proportion of fixed and floating rate debt instruments within our debt portfolio over a given period . we generally manage the mix of fixed and floating rate debt through the issuance of targeted amounts of each as debt matures or as we require incremental borrowings . we employ derivatives , primarily swaps , as one of the tools to obtain the targeted mix . in addition , we also obtain flexibility in managing interest costs and the interest rate mix within our debt portfolio by evaluating the issuance of and managing outstanding callable fixed-rate debt securities . swaps allow us to convert debt from fixed rates to variable rates and thereby hedge the risk of changes in the debt 2019s fair value attributable to the changes in interest rates . we account for swaps as fair value .

| | millions | dec . 31 2011 | dec . 31 2010 | |---:|:----------------------------------------------------|:----------------|:----------------| | 0 | accounts payable | $ 819 | $ 677 | | 1 | income and other taxes | 482 | 337 | | 2 | accrued wages and vacation | 363 | 357 | | 3 | dividends payable | 284 | 183 | | 4 | accrued casualty costs | 249 | 325 | | 5 | interest payable | 197 | 200 | | 6 | equipment rents payable | 90 | 86 | | 7 | other | 624 | 548 | | 8 | total accounts payable and othercurrent liabilities | $ 3108 | $ 2713 |

are allocated using appropriate statistical bases . total expense for repairs and maintenance incurred was $ 2.2 billion for 2011 , $ 2.0 billion for 2010 , and $ 1.9 billion for 2009 . 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 . 12 . accounts payable and other current liabilities dec . 31 , dec . 31 , millions 2011 2010 ._| | millions | dec . 31 2011 | dec . 31 2010 | |---:|:----------------------------------------------------|:----------------|:----------------| | 0 | accounts payable | $ 819 | $ 677 | | 1 | income and other taxes | 482 | 337 | | 2 | accrued wages and vacation | 363 | 357 | | 3 | dividends payable | 284 | 183 | | 4 | accrued casualty costs | 249 | 325 | | 5 | interest payable | 197 | 200 | | 6 | equipment rents payable | 90 | 86 | | 7 | other | 624 | 548 | | 8 | total accounts payable and othercurrent liabilities | $ 3108 | $ 2713 |_13 . financial instruments strategy and risk 2013 we may use derivative financial instruments in limited instances for other than trading purposes to assist in managing our overall exposure to fluctuations in interest rates and fuel prices . we are not a party to leveraged derivatives and , by policy , do not use derivative financial instruments for speculative purposes . derivative financial instruments qualifying for hedge accounting must maintain a specified level of effectiveness between the hedging instrument and the item being hedged , both at inception and throughout the hedged period . we formally document the nature and relationships between the hedging instruments and hedged items at inception , as well as our risk- management objectives , strategies for undertaking the various hedge transactions , and method of assessing hedge effectiveness . changes in the fair market value of derivative financial instruments that do not qualify for hedge accounting are charged to earnings . we may use swaps , collars , futures , and/or forward contracts to mitigate the risk of adverse movements in interest rates and fuel prices ; however , the use of these derivative financial instruments may limit future benefits from favorable interest rate and fuel price movements . market and credit risk 2013 we address market risk related to derivative financial instruments by selecting instruments with value fluctuations that highly correlate with the underlying hedged item . we manage credit risk related to derivative financial instruments , which is minimal , by requiring high credit standards for counterparties and periodic settlements . at december 31 , 2011 and 2010 , we were not required to provide collateral , nor had we received collateral , relating to our hedging activities . determination of fair value 2013 we determine the fair values of our derivative financial instrument positions based upon current fair values as quoted by recognized dealers or the present value of expected future cash flows . interest rate fair value hedges 2013 we manage our overall exposure to fluctuations in interest rates by adjusting the proportion of fixed and floating rate debt instruments within our debt portfolio over a given period . we generally manage the mix of fixed and floating rate debt through the issuance of targeted amounts of each as debt matures or as we require incremental borrowings . we employ derivatives , primarily swaps , as one of the tools to obtain the targeted mix . in addition , we also obtain flexibility in managing interest costs and the interest rate mix within our debt portfolio by evaluating the issuance of and managing outstanding callable fixed-rate debt securities . swaps allow us to convert debt from fixed rates to variable rates and thereby hedge the risk of changes in the debt 2019s fair value attributable to the changes in interest rates . we account for swaps as fair value .

2,011

76

UNP

Union Pacific Corporation

Industrials

Rail Transportation

Omaha, Nebraska

1957-03-04

100,885

1862

in 2011 , did the company distribute more to shareholders than debtholders?

yes

greater(284, 197)

are allocated using appropriate statistical bases . total expense for repairs and maintenance incurred was $ 2.2 billion for 2011 , $ 2.0 billion for 2010 , and $ 1.9 billion for 2009 . 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 . 12 . accounts payable and other current liabilities dec . 31 , dec . 31 , millions 2011 2010 .

13 . financial instruments strategy and risk 2013 we may use derivative financial instruments in limited instances for other than trading purposes to assist in managing our overall exposure to fluctuations in interest rates and fuel prices . we are not a party to leveraged derivatives and , by policy , do not use derivative financial instruments for speculative purposes . derivative financial instruments qualifying for hedge accounting must maintain a specified level of effectiveness between the hedging instrument and the item being hedged , both at inception and throughout the hedged period . we formally document the nature and relationships between the hedging instruments and hedged items at inception , as well as our risk- management objectives , strategies for undertaking the various hedge transactions , and method of assessing hedge effectiveness . changes in the fair market value of derivative financial instruments that do not qualify for hedge accounting are charged to earnings . we may use swaps , collars , futures , and/or forward contracts to mitigate the risk of adverse movements in interest rates and fuel prices ; however , the use of these derivative financial instruments may limit future benefits from favorable interest rate and fuel price movements . market and credit risk 2013 we address market risk related to derivative financial instruments by selecting instruments with value fluctuations that highly correlate with the underlying hedged item . we manage credit risk related to derivative financial instruments , which is minimal , by requiring high credit standards for counterparties and periodic settlements . at december 31 , 2011 and 2010 , we were not required to provide collateral , nor had we received collateral , relating to our hedging activities . determination of fair value 2013 we determine the fair values of our derivative financial instrument positions based upon current fair values as quoted by recognized dealers or the present value of expected future cash flows . interest rate fair value hedges 2013 we manage our overall exposure to fluctuations in interest rates by adjusting the proportion of fixed and floating rate debt instruments within our debt portfolio over a given period . we generally manage the mix of fixed and floating rate debt through the issuance of targeted amounts of each as debt matures or as we require incremental borrowings . we employ derivatives , primarily swaps , as one of the tools to obtain the targeted mix . in addition , we also obtain flexibility in managing interest costs and the interest rate mix within our debt portfolio by evaluating the issuance of and managing outstanding callable fixed-rate debt securities . swaps allow us to convert debt from fixed rates to variable rates and thereby hedge the risk of changes in the debt 2019s fair value attributable to the changes in interest rates . we account for swaps as fair value .

| | millions | dec . 31 2011 | dec . 31 2010 | |---:|:----------------------------------------------------|:----------------|:----------------| | 0 | accounts payable | $ 819 | $ 677 | | 1 | income and other taxes | 482 | 337 | | 2 | accrued wages and vacation | 363 | 357 | | 3 | dividends payable | 284 | 183 | | 4 | accrued casualty costs | 249 | 325 | | 5 | interest payable | 197 | 200 | | 6 | equipment rents payable | 90 | 86 | | 7 | other | 624 | 548 | | 8 | total accounts payable and othercurrent liabilities | $ 3108 | $ 2713 |

are allocated using appropriate statistical bases . total expense for repairs and maintenance incurred was $ 2.2 billion for 2011 , $ 2.0 billion for 2010 , and $ 1.9 billion for 2009 . 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 . 12 . accounts payable and other current liabilities dec . 31 , dec . 31 , millions 2011 2010 ._| | millions | dec . 31 2011 | dec . 31 2010 | |---:|:----------------------------------------------------|:----------------|:----------------| | 0 | accounts payable | $ 819 | $ 677 | | 1 | income and other taxes | 482 | 337 | | 2 | accrued wages and vacation | 363 | 357 | | 3 | dividends payable | 284 | 183 | | 4 | accrued casualty costs | 249 | 325 | | 5 | interest payable | 197 | 200 | | 6 | equipment rents payable | 90 | 86 | | 7 | other | 624 | 548 | | 8 | total accounts payable and othercurrent liabilities | $ 3108 | $ 2713 |_13 . financial instruments strategy and risk 2013 we may use derivative financial instruments in limited instances for other than trading purposes to assist in managing our overall exposure to fluctuations in interest rates and fuel prices . we are not a party to leveraged derivatives and , by policy , do not use derivative financial instruments for speculative purposes . derivative financial instruments qualifying for hedge accounting must maintain a specified level of effectiveness between the hedging instrument and the item being hedged , both at inception and throughout the hedged period . we formally document the nature and relationships between the hedging instruments and hedged items at inception , as well as our risk- management objectives , strategies for undertaking the various hedge transactions , and method of assessing hedge effectiveness . changes in the fair market value of derivative financial instruments that do not qualify for hedge accounting are charged to earnings . we may use swaps , collars , futures , and/or forward contracts to mitigate the risk of adverse movements in interest rates and fuel prices ; however , the use of these derivative financial instruments may limit future benefits from favorable interest rate and fuel price movements . market and credit risk 2013 we address market risk related to derivative financial instruments by selecting instruments with value fluctuations that highly correlate with the underlying hedged item . we manage credit risk related to derivative financial instruments , which is minimal , by requiring high credit standards for counterparties and periodic settlements . at december 31 , 2011 and 2010 , we were not required to provide collateral , nor had we received collateral , relating to our hedging activities . determination of fair value 2013 we determine the fair values of our derivative financial instrument positions based upon current fair values as quoted by recognized dealers or the present value of expected future cash flows . interest rate fair value hedges 2013 we manage our overall exposure to fluctuations in interest rates by adjusting the proportion of fixed and floating rate debt instruments within our debt portfolio over a given period . we generally manage the mix of fixed and floating rate debt through the issuance of targeted amounts of each as debt matures or as we require incremental borrowings . we employ derivatives , primarily swaps , as one of the tools to obtain the targeted mix . in addition , we also obtain flexibility in managing interest costs and the interest rate mix within our debt portfolio by evaluating the issuance of and managing outstanding callable fixed-rate debt securities . swaps allow us to convert debt from fixed rates to variable rates and thereby hedge the risk of changes in the debt 2019s fair value attributable to the changes in interest rates . we account for swaps as fair value .

2,011

76

UNP

Union Pacific Corporation

Industrials

Rail Transportation

Omaha, Nebraska

1957-03-04

100,885

1862

null

finqa239

what is the ratio of the deffered tax assets for the state income tax credit carry-forwards to the net operating loss carry-forward

5.3

divide(16, const_3)

as of december 31 , 2017 , the company had gross state income tax credit carry-forwards of approximately $ 20 million , which expire from 2018 through 2020 . a deferred tax asset of approximately $ 16 million ( net of federal benefit ) has been established related to these state income tax credit carry-forwards , with a valuation allowance of $ 7 million against such deferred tax asset as of december 31 , 2017 . the company had a gross state net operating loss carry-forward of $ 39 million , which expires in 2027 . a deferred tax asset of approximately $ 3 million ( net of federal benefit ) has been established for the net operating loss carry-forward , with a full valuation allowance as of december 31 , 2017 . other state and foreign net operating loss carry-forwards are separately and cumulatively immaterial to the company 2019s deferred tax balances and expire between 2026 and 2036 . 14 . debt long-term debt consisted of the following: .

credit facility - in november 2017 , the company terminated its second amended and restated credit agreement and entered into a new credit agreement ( the "credit facility" ) with third-party lenders . the credit facility includes a revolving credit facility of $ 1250 million , which may be drawn upon during a period of five years from november 22 , 2017 . the revolving credit facility includes a letter of credit subfacility of $ 500 million . the revolving credit facility has a variable interest rate on outstanding borrowings based on the london interbank offered rate ( "libor" ) plus a spread based upon the company's credit rating , which may vary between 1.125% ( 1.125 % ) and 1.500% ( 1.500 % ) . the revolving credit facility also has a commitment fee rate on the unutilized balance based on the company 2019s leverage ratio . the commitment fee rate as of december 31 , 2017 was 0.25% ( 0.25 % ) and may vary between 0.20% ( 0.20 % ) and 0.30% ( 0.30 % ) . the credit facility contains customary affirmative and negative covenants , as well as a financial covenant based on a maximum total leverage ratio . each of the company's existing and future material wholly owned domestic subsidiaries , except those that are specifically designated as unrestricted subsidiaries , are and will be guarantors under the credit facility . in july 2015 , the company used cash on hand to repay all amounts outstanding under a prior credit facility , including $ 345 million in principal amount of outstanding term loans . as of december 31 , 2017 , $ 15 million in letters of credit were issued but undrawn , and the remaining $ 1235 million of the revolving credit facility was unutilized . the company had unamortized debt issuance costs associated with its credit facilities of $ 11 million and $ 8 million as of december 31 , 2017 and 2016 , respectively . senior notes - in december 2017 , the company issued $ 600 million aggregate principal amount of unregistered 3.483% ( 3.483 % ) senior notes with registration rights due december 2027 , the net proceeds of which were used to repurchase the company's 5.000% ( 5.000 % ) senior notes due in 2021 in connection with the 2017 redemption described below . in november 2015 , the company issued $ 600 million aggregate principal amount of unregistered 5.000% ( 5.000 % ) senior notes due november 2025 , the net proceeds of which were used to repurchase the company's 7.125% ( 7.125 % ) senior notes due in 2021 in connection with the 2015 tender offer and redemption described below . interest on the company's senior notes is payable semi-annually . the terms of the 5.000% ( 5.000 % ) and 3.483% ( 3.483 % ) senior notes limit the company 2019s ability and the ability of certain of its subsidiaries to create liens , enter into sale and leaseback transactions , sell assets , and effect consolidations or mergers . the company had unamortized debt issuance costs associated with the senior notes of $ 15 million and $ 19 million as of december 31 , 2017 and 2016 , respectively. .

| | ( $ in millions ) | december 31 2017 | december 31 2016 | |---:|:------------------------------------------------------------------------------------------------|:-------------------|:-------------------| | 0 | senior notes due december 15 2021 5.000% ( 5.000 % ) | 2014 | 600 | | 1 | senior notes due november 15 2025 5.000% ( 5.000 % ) | 600 | 600 | | 2 | senior notes due december 1 2027 3.483% ( 3.483 % ) | 600 | 2014 | | 3 | mississippi economic development revenue bonds due may 1 2024 7.81% ( 7.81 % ) | 84 | 84 | | 4 | gulf opportunity zone industrial development revenue bonds due december 1 2028 4.55% ( 4.55 % ) | 21 | 21 | | 5 | less unamortized debt issuance costs | -26 ( 26 ) | -27 ( 27 ) | | 6 | total long-term debt | 1279 | 1278 |

as of december 31 , 2017 , the company had gross state income tax credit carry-forwards of approximately $ 20 million , which expire from 2018 through 2020 . a deferred tax asset of approximately $ 16 million ( net of federal benefit ) has been established related to these state income tax credit carry-forwards , with a valuation allowance of $ 7 million against such deferred tax asset as of december 31 , 2017 . the company had a gross state net operating loss carry-forward of $ 39 million , which expires in 2027 . a deferred tax asset of approximately $ 3 million ( net of federal benefit ) has been established for the net operating loss carry-forward , with a full valuation allowance as of december 31 , 2017 . other state and foreign net operating loss carry-forwards are separately and cumulatively immaterial to the company 2019s deferred tax balances and expire between 2026 and 2036 . 14 . debt long-term debt consisted of the following: ._| | ( $ in millions ) | december 31 2017 | december 31 2016 | |---:|:------------------------------------------------------------------------------------------------|:-------------------|:-------------------| | 0 | senior notes due december 15 2021 5.000% ( 5.000 % ) | 2014 | 600 | | 1 | senior notes due november 15 2025 5.000% ( 5.000 % ) | 600 | 600 | | 2 | senior notes due december 1 2027 3.483% ( 3.483 % ) | 600 | 2014 | | 3 | mississippi economic development revenue bonds due may 1 2024 7.81% ( 7.81 % ) | 84 | 84 | | 4 | gulf opportunity zone industrial development revenue bonds due december 1 2028 4.55% ( 4.55 % ) | 21 | 21 | | 5 | less unamortized debt issuance costs | -26 ( 26 ) | -27 ( 27 ) | | 6 | total long-term debt | 1279 | 1278 |_credit facility - in november 2017 , the company terminated its second amended and restated credit agreement and entered into a new credit agreement ( the "credit facility" ) with third-party lenders . the credit facility includes a revolving credit facility of $ 1250 million , which may be drawn upon during a period of five years from november 22 , 2017 . the revolving credit facility includes a letter of credit subfacility of $ 500 million . the revolving credit facility has a variable interest rate on outstanding borrowings based on the london interbank offered rate ( "libor" ) plus a spread based upon the company's credit rating , which may vary between 1.125% ( 1.125 % ) and 1.500% ( 1.500 % ) . the revolving credit facility also has a commitment fee rate on the unutilized balance based on the company 2019s leverage ratio . the commitment fee rate as of december 31 , 2017 was 0.25% ( 0.25 % ) and may vary between 0.20% ( 0.20 % ) and 0.30% ( 0.30 % ) . the credit facility contains customary affirmative and negative covenants , as well as a financial covenant based on a maximum total leverage ratio . each of the company's existing and future material wholly owned domestic subsidiaries , except those that are specifically designated as unrestricted subsidiaries , are and will be guarantors under the credit facility . in july 2015 , the company used cash on hand to repay all amounts outstanding under a prior credit facility , including $ 345 million in principal amount of outstanding term loans . as of december 31 , 2017 , $ 15 million in letters of credit were issued but undrawn , and the remaining $ 1235 million of the revolving credit facility was unutilized . the company had unamortized debt issuance costs associated with its credit facilities of $ 11 million and $ 8 million as of december 31 , 2017 and 2016 , respectively . senior notes - in december 2017 , the company issued $ 600 million aggregate principal amount of unregistered 3.483% ( 3.483 % ) senior notes with registration rights due december 2027 , the net proceeds of which were used to repurchase the company's 5.000% ( 5.000 % ) senior notes due in 2021 in connection with the 2017 redemption described below . in november 2015 , the company issued $ 600 million aggregate principal amount of unregistered 5.000% ( 5.000 % ) senior notes due november 2025 , the net proceeds of which were used to repurchase the company's 7.125% ( 7.125 % ) senior notes due in 2021 in connection with the 2015 tender offer and redemption described below . interest on the company's senior notes is payable semi-annually . the terms of the 5.000% ( 5.000 % ) and 3.483% ( 3.483 % ) senior notes limit the company 2019s ability and the ability of certain of its subsidiaries to create liens , enter into sale and leaseback transactions , sell assets , and effect consolidations or mergers . the company had unamortized debt issuance costs associated with the senior notes of $ 15 million and $ 19 million as of december 31 , 2017 and 2016 , respectively. .

2,017

104

HII

Huntington Ingalls Industries

Industrials

Aerospace & Defense

Newport News, Virginia

2018-01-03

1,501,585

2011

what is the ratio of the deffered tax assets for the state income tax credit carry-forwards to the net operating loss carry-forward

5.3

divide(16, const_3)

as of december 31 , 2017 , the company had gross state income tax credit carry-forwards of approximately $ 20 million , which expire from 2018 through 2020 . a deferred tax asset of approximately $ 16 million ( net of federal benefit ) has been established related to these state income tax credit carry-forwards , with a valuation allowance of $ 7 million against such deferred tax asset as of december 31 , 2017 . the company had a gross state net operating loss carry-forward of $ 39 million , which expires in 2027 . a deferred tax asset of approximately $ 3 million ( net of federal benefit ) has been established for the net operating loss carry-forward , with a full valuation allowance as of december 31 , 2017 . other state and foreign net operating loss carry-forwards are separately and cumulatively immaterial to the company 2019s deferred tax balances and expire between 2026 and 2036 . 14 . debt long-term debt consisted of the following: .

credit facility - in november 2017 , the company terminated its second amended and restated credit agreement and entered into a new credit agreement ( the "credit facility" ) with third-party lenders . the credit facility includes a revolving credit facility of $ 1250 million , which may be drawn upon during a period of five years from november 22 , 2017 . the revolving credit facility includes a letter of credit subfacility of $ 500 million . the revolving credit facility has a variable interest rate on outstanding borrowings based on the london interbank offered rate ( "libor" ) plus a spread based upon the company's credit rating , which may vary between 1.125% ( 1.125 % ) and 1.500% ( 1.500 % ) . the revolving credit facility also has a commitment fee rate on the unutilized balance based on the company 2019s leverage ratio . the commitment fee rate as of december 31 , 2017 was 0.25% ( 0.25 % ) and may vary between 0.20% ( 0.20 % ) and 0.30% ( 0.30 % ) . the credit facility contains customary affirmative and negative covenants , as well as a financial covenant based on a maximum total leverage ratio . each of the company's existing and future material wholly owned domestic subsidiaries , except those that are specifically designated as unrestricted subsidiaries , are and will be guarantors under the credit facility . in july 2015 , the company used cash on hand to repay all amounts outstanding under a prior credit facility , including $ 345 million in principal amount of outstanding term loans . as of december 31 , 2017 , $ 15 million in letters of credit were issued but undrawn , and the remaining $ 1235 million of the revolving credit facility was unutilized . the company had unamortized debt issuance costs associated with its credit facilities of $ 11 million and $ 8 million as of december 31 , 2017 and 2016 , respectively . senior notes - in december 2017 , the company issued $ 600 million aggregate principal amount of unregistered 3.483% ( 3.483 % ) senior notes with registration rights due december 2027 , the net proceeds of which were used to repurchase the company's 5.000% ( 5.000 % ) senior notes due in 2021 in connection with the 2017 redemption described below . in november 2015 , the company issued $ 600 million aggregate principal amount of unregistered 5.000% ( 5.000 % ) senior notes due november 2025 , the net proceeds of which were used to repurchase the company's 7.125% ( 7.125 % ) senior notes due in 2021 in connection with the 2015 tender offer and redemption described below . interest on the company's senior notes is payable semi-annually . the terms of the 5.000% ( 5.000 % ) and 3.483% ( 3.483 % ) senior notes limit the company 2019s ability and the ability of certain of its subsidiaries to create liens , enter into sale and leaseback transactions , sell assets , and effect consolidations or mergers . the company had unamortized debt issuance costs associated with the senior notes of $ 15 million and $ 19 million as of december 31 , 2017 and 2016 , respectively. .

| | ( $ in millions ) | december 31 2017 | december 31 2016 | |---:|:------------------------------------------------------------------------------------------------|:-------------------|:-------------------| | 0 | senior notes due december 15 2021 5.000% ( 5.000 % ) | 2014 | 600 | | 1 | senior notes due november 15 2025 5.000% ( 5.000 % ) | 600 | 600 | | 2 | senior notes due december 1 2027 3.483% ( 3.483 % ) | 600 | 2014 | | 3 | mississippi economic development revenue bonds due may 1 2024 7.81% ( 7.81 % ) | 84 | 84 | | 4 | gulf opportunity zone industrial development revenue bonds due december 1 2028 4.55% ( 4.55 % ) | 21 | 21 | | 5 | less unamortized debt issuance costs | -26 ( 26 ) | -27 ( 27 ) | | 6 | total long-term debt | 1279 | 1278 |

as of december 31 , 2017 , the company had gross state income tax credit carry-forwards of approximately $ 20 million , which expire from 2018 through 2020 . a deferred tax asset of approximately $ 16 million ( net of federal benefit ) has been established related to these state income tax credit carry-forwards , with a valuation allowance of $ 7 million against such deferred tax asset as of december 31 , 2017 . the company had a gross state net operating loss carry-forward of $ 39 million , which expires in 2027 . a deferred tax asset of approximately $ 3 million ( net of federal benefit ) has been established for the net operating loss carry-forward , with a full valuation allowance as of december 31 , 2017 . other state and foreign net operating loss carry-forwards are separately and cumulatively immaterial to the company 2019s deferred tax balances and expire between 2026 and 2036 . 14 . debt long-term debt consisted of the following: ._| | ( $ in millions ) | december 31 2017 | december 31 2016 | |---:|:------------------------------------------------------------------------------------------------|:-------------------|:-------------------| | 0 | senior notes due december 15 2021 5.000% ( 5.000 % ) | 2014 | 600 | | 1 | senior notes due november 15 2025 5.000% ( 5.000 % ) | 600 | 600 | | 2 | senior notes due december 1 2027 3.483% ( 3.483 % ) | 600 | 2014 | | 3 | mississippi economic development revenue bonds due may 1 2024 7.81% ( 7.81 % ) | 84 | 84 | | 4 | gulf opportunity zone industrial development revenue bonds due december 1 2028 4.55% ( 4.55 % ) | 21 | 21 | | 5 | less unamortized debt issuance costs | -26 ( 26 ) | -27 ( 27 ) | | 6 | total long-term debt | 1279 | 1278 |_credit facility - in november 2017 , the company terminated its second amended and restated credit agreement and entered into a new credit agreement ( the "credit facility" ) with third-party lenders . the credit facility includes a revolving credit facility of $ 1250 million , which may be drawn upon during a period of five years from november 22 , 2017 . the revolving credit facility includes a letter of credit subfacility of $ 500 million . the revolving credit facility has a variable interest rate on outstanding borrowings based on the london interbank offered rate ( "libor" ) plus a spread based upon the company's credit rating , which may vary between 1.125% ( 1.125 % ) and 1.500% ( 1.500 % ) . the revolving credit facility also has a commitment fee rate on the unutilized balance based on the company 2019s leverage ratio . the commitment fee rate as of december 31 , 2017 was 0.25% ( 0.25 % ) and may vary between 0.20% ( 0.20 % ) and 0.30% ( 0.30 % ) . the credit facility contains customary affirmative and negative covenants , as well as a financial covenant based on a maximum total leverage ratio . each of the company's existing and future material wholly owned domestic subsidiaries , except those that are specifically designated as unrestricted subsidiaries , are and will be guarantors under the credit facility . in july 2015 , the company used cash on hand to repay all amounts outstanding under a prior credit facility , including $ 345 million in principal amount of outstanding term loans . as of december 31 , 2017 , $ 15 million in letters of credit were issued but undrawn , and the remaining $ 1235 million of the revolving credit facility was unutilized . the company had unamortized debt issuance costs associated with its credit facilities of $ 11 million and $ 8 million as of december 31 , 2017 and 2016 , respectively . senior notes - in december 2017 , the company issued $ 600 million aggregate principal amount of unregistered 3.483% ( 3.483 % ) senior notes with registration rights due december 2027 , the net proceeds of which were used to repurchase the company's 5.000% ( 5.000 % ) senior notes due in 2021 in connection with the 2017 redemption described below . in november 2015 , the company issued $ 600 million aggregate principal amount of unregistered 5.000% ( 5.000 % ) senior notes due november 2025 , the net proceeds of which were used to repurchase the company's 7.125% ( 7.125 % ) senior notes due in 2021 in connection with the 2015 tender offer and redemption described below . interest on the company's senior notes is payable semi-annually . the terms of the 5.000% ( 5.000 % ) and 3.483% ( 3.483 % ) senior notes limit the company 2019s ability and the ability of certain of its subsidiaries to create liens , enter into sale and leaseback transactions , sell assets , and effect consolidations or mergers . the company had unamortized debt issuance costs associated with the senior notes of $ 15 million and $ 19 million as of december 31 , 2017 and 2016 , respectively. .

2,017

104

HII

Huntington Ingalls Industries

Industrials

Aerospace & Defense

Newport News, Virginia

2018-01-03

1,501,585

2011

null

finqa240

what percent of assets acquired by the acquisition are non-tangible assets?

96%

divide(add(add(13536, 4091), 1031), 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 percent of assets acquired by the acquisition are non-tangible assets?

96%

divide(add(add(13536, 4091), 1031), 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

finqa241

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

22.19

divide(7.1, 32%)

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)

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

22.19

divide(7.1, 32%)

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

finqa242

what was the average revenue from discontinued operations in 2013 and 2011 , in millions?

738.5

divide(add(503, 974), const_2)

dish network corporation notes to consolidated financial statements - continued 9 . acquisitions dbsd north america and terrestar transactions on march 2 , 2012 , the fcc approved the transfer of 40 mhz of aws-4 wireless spectrum licenses held by dbsd north america and terrestar to us . on march 9 , 2012 , we completed the dbsd transaction and the terrestar transaction , pursuant to which we acquired , among other things , certain satellite assets and wireless spectrum licenses held by dbsd north america and terrestar . in addition , during the fourth quarter 2011 , we and sprint entered into a mutual release and settlement agreement ( the 201csprint settlement agreement 201d ) pursuant to which all issues then being disputed relating to the dbsd transaction and the terrestar transaction were resolved between us and sprint , including , but not limited to , issues relating to costs allegedly incurred by sprint to relocate users from the spectrum then licensed to dbsd north america and terrestar . the total consideration to acquire the dbsd north america and terrestar assets was approximately $ 2.860 billion . this amount includes $ 1.364 billion for the dbsd transaction , $ 1.382 billion for the terrestar transaction , and the net payment of $ 114 million to sprint pursuant to the sprint settlement agreement . see note 16 for further information . as a result of these acquisitions , we recognized the acquired assets and assumed liabilities based on our estimates of fair value at their acquisition date , including $ 102 million in an uncertain tax position in 201clong-term deferred revenue , distribution and carriage payments and other long-term liabilities 201d on our consolidated balance sheets . subsequently , in the third quarter 2013 , this uncertain tax position was resolved and $ 102 million was reversed and recorded as a decrease in 201cincome tax ( provision ) benefit , net 201d on our consolidated statements of operations and comprehensive income ( loss ) for the year ended december 31 , 2013 . 10 . discontinued operations as of december 31 , 2013 , blockbuster had ceased all material operations . accordingly , our consolidated balance sheets , consolidated statements of operations and comprehensive income ( loss ) and consolidated statements of cash flows have been recast to present blockbuster as discontinued operations for all periods presented and the amounts presented in the notes to our consolidated financial statements relate only to our continuing operations , unless otherwise noted . during the years ended december 31 , 2013 , 2012 and 2011 , the revenue from our discontinued operations was $ 503 million , $ 1.085 billion and $ 974 million , respectively . 201cincome ( loss ) from discontinued operations , before income taxes 201d for the same periods was a loss of $ 54 million , $ 62 million and $ 3 million , respectively . in addition , 201cincome ( loss ) from discontinued operations , net of tax 201d for the same periods was a loss of $ 47 million , $ 37 million and $ 7 million , respectively . as of december 31 , 2013 , the net assets from our discontinued operations consisted of the following : december 31 , 2013 ( in thousands ) .

.

| | | as of december 31 2013 ( in thousands ) | |---:|:---------------------------------------------------|:------------------------------------------| | 0 | current assets from discontinued operations | $ 68239 | | 1 | noncurrent assets from discontinued operations | 9965 | | 2 | current liabilities from discontinued operations | -49471 ( 49471 ) | | 3 | long-term liabilities from discontinued operations | -19804 ( 19804 ) | | 4 | net assets from discontinued operations | $ 8929 |

dish network corporation notes to consolidated financial statements - continued 9 . acquisitions dbsd north america and terrestar transactions on march 2 , 2012 , the fcc approved the transfer of 40 mhz of aws-4 wireless spectrum licenses held by dbsd north america and terrestar to us . on march 9 , 2012 , we completed the dbsd transaction and the terrestar transaction , pursuant to which we acquired , among other things , certain satellite assets and wireless spectrum licenses held by dbsd north america and terrestar . in addition , during the fourth quarter 2011 , we and sprint entered into a mutual release and settlement agreement ( the 201csprint settlement agreement 201d ) pursuant to which all issues then being disputed relating to the dbsd transaction and the terrestar transaction were resolved between us and sprint , including , but not limited to , issues relating to costs allegedly incurred by sprint to relocate users from the spectrum then licensed to dbsd north america and terrestar . the total consideration to acquire the dbsd north america and terrestar assets was approximately $ 2.860 billion . this amount includes $ 1.364 billion for the dbsd transaction , $ 1.382 billion for the terrestar transaction , and the net payment of $ 114 million to sprint pursuant to the sprint settlement agreement . see note 16 for further information . as a result of these acquisitions , we recognized the acquired assets and assumed liabilities based on our estimates of fair value at their acquisition date , including $ 102 million in an uncertain tax position in 201clong-term deferred revenue , distribution and carriage payments and other long-term liabilities 201d on our consolidated balance sheets . subsequently , in the third quarter 2013 , this uncertain tax position was resolved and $ 102 million was reversed and recorded as a decrease in 201cincome tax ( provision ) benefit , net 201d on our consolidated statements of operations and comprehensive income ( loss ) for the year ended december 31 , 2013 . 10 . discontinued operations as of december 31 , 2013 , blockbuster had ceased all material operations . accordingly , our consolidated balance sheets , consolidated statements of operations and comprehensive income ( loss ) and consolidated statements of cash flows have been recast to present blockbuster as discontinued operations for all periods presented and the amounts presented in the notes to our consolidated financial statements relate only to our continuing operations , unless otherwise noted . during the years ended december 31 , 2013 , 2012 and 2011 , the revenue from our discontinued operations was $ 503 million , $ 1.085 billion and $ 974 million , respectively . 201cincome ( loss ) from discontinued operations , before income taxes 201d for the same periods was a loss of $ 54 million , $ 62 million and $ 3 million , respectively . in addition , 201cincome ( loss ) from discontinued operations , net of tax 201d for the same periods was a loss of $ 47 million , $ 37 million and $ 7 million , respectively . as of december 31 , 2013 , the net assets from our discontinued operations consisted of the following : december 31 , 2013 ( in thousands ) ._| | | as of december 31 2013 ( in thousands ) | |---:|:---------------------------------------------------|:------------------------------------------| | 0 | current assets from discontinued operations | $ 68239 | | 1 | noncurrent assets from discontinued operations | 9965 | | 2 | current liabilities from discontinued operations | -49471 ( 49471 ) | | 3 | long-term liabilities from discontinued operations | -19804 ( 19804 ) | | 4 | net assets from discontinued operations | $ 8929 |_.

2,013

138

DISH

DISH Network Corporation

Communication Services

Cable & Satellite

Englewood, CO

2004-01-01

1,001,082

1980

what was the average revenue from discontinued operations in 2013 and 2011 , in millions?

738.5

divide(add(503, 974), const_2)

dish network corporation notes to consolidated financial statements - continued 9 . acquisitions dbsd north america and terrestar transactions on march 2 , 2012 , the fcc approved the transfer of 40 mhz of aws-4 wireless spectrum licenses held by dbsd north america and terrestar to us . on march 9 , 2012 , we completed the dbsd transaction and the terrestar transaction , pursuant to which we acquired , among other things , certain satellite assets and wireless spectrum licenses held by dbsd north america and terrestar . in addition , during the fourth quarter 2011 , we and sprint entered into a mutual release and settlement agreement ( the 201csprint settlement agreement 201d ) pursuant to which all issues then being disputed relating to the dbsd transaction and the terrestar transaction were resolved between us and sprint , including , but not limited to , issues relating to costs allegedly incurred by sprint to relocate users from the spectrum then licensed to dbsd north america and terrestar . the total consideration to acquire the dbsd north america and terrestar assets was approximately $ 2.860 billion . this amount includes $ 1.364 billion for the dbsd transaction , $ 1.382 billion for the terrestar transaction , and the net payment of $ 114 million to sprint pursuant to the sprint settlement agreement . see note 16 for further information . as a result of these acquisitions , we recognized the acquired assets and assumed liabilities based on our estimates of fair value at their acquisition date , including $ 102 million in an uncertain tax position in 201clong-term deferred revenue , distribution and carriage payments and other long-term liabilities 201d on our consolidated balance sheets . subsequently , in the third quarter 2013 , this uncertain tax position was resolved and $ 102 million was reversed and recorded as a decrease in 201cincome tax ( provision ) benefit , net 201d on our consolidated statements of operations and comprehensive income ( loss ) for the year ended december 31 , 2013 . 10 . discontinued operations as of december 31 , 2013 , blockbuster had ceased all material operations . accordingly , our consolidated balance sheets , consolidated statements of operations and comprehensive income ( loss ) and consolidated statements of cash flows have been recast to present blockbuster as discontinued operations for all periods presented and the amounts presented in the notes to our consolidated financial statements relate only to our continuing operations , unless otherwise noted . during the years ended december 31 , 2013 , 2012 and 2011 , the revenue from our discontinued operations was $ 503 million , $ 1.085 billion and $ 974 million , respectively . 201cincome ( loss ) from discontinued operations , before income taxes 201d for the same periods was a loss of $ 54 million , $ 62 million and $ 3 million , respectively . in addition , 201cincome ( loss ) from discontinued operations , net of tax 201d for the same periods was a loss of $ 47 million , $ 37 million and $ 7 million , respectively . as of december 31 , 2013 , the net assets from our discontinued operations consisted of the following : december 31 , 2013 ( in thousands ) .

.

| | | as of december 31 2013 ( in thousands ) | |---:|:---------------------------------------------------|:------------------------------------------| | 0 | current assets from discontinued operations | $ 68239 | | 1 | noncurrent assets from discontinued operations | 9965 | | 2 | current liabilities from discontinued operations | -49471 ( 49471 ) | | 3 | long-term liabilities from discontinued operations | -19804 ( 19804 ) | | 4 | net assets from discontinued operations | $ 8929 |

dish network corporation notes to consolidated financial statements - continued 9 . acquisitions dbsd north america and terrestar transactions on march 2 , 2012 , the fcc approved the transfer of 40 mhz of aws-4 wireless spectrum licenses held by dbsd north america and terrestar to us . on march 9 , 2012 , we completed the dbsd transaction and the terrestar transaction , pursuant to which we acquired , among other things , certain satellite assets and wireless spectrum licenses held by dbsd north america and terrestar . in addition , during the fourth quarter 2011 , we and sprint entered into a mutual release and settlement agreement ( the 201csprint settlement agreement 201d ) pursuant to which all issues then being disputed relating to the dbsd transaction and the terrestar transaction were resolved between us and sprint , including , but not limited to , issues relating to costs allegedly incurred by sprint to relocate users from the spectrum then licensed to dbsd north america and terrestar . the total consideration to acquire the dbsd north america and terrestar assets was approximately $ 2.860 billion . this amount includes $ 1.364 billion for the dbsd transaction , $ 1.382 billion for the terrestar transaction , and the net payment of $ 114 million to sprint pursuant to the sprint settlement agreement . see note 16 for further information . as a result of these acquisitions , we recognized the acquired assets and assumed liabilities based on our estimates of fair value at their acquisition date , including $ 102 million in an uncertain tax position in 201clong-term deferred revenue , distribution and carriage payments and other long-term liabilities 201d on our consolidated balance sheets . subsequently , in the third quarter 2013 , this uncertain tax position was resolved and $ 102 million was reversed and recorded as a decrease in 201cincome tax ( provision ) benefit , net 201d on our consolidated statements of operations and comprehensive income ( loss ) for the year ended december 31 , 2013 . 10 . discontinued operations as of december 31 , 2013 , blockbuster had ceased all material operations . accordingly , our consolidated balance sheets , consolidated statements of operations and comprehensive income ( loss ) and consolidated statements of cash flows have been recast to present blockbuster as discontinued operations for all periods presented and the amounts presented in the notes to our consolidated financial statements relate only to our continuing operations , unless otherwise noted . during the years ended december 31 , 2013 , 2012 and 2011 , the revenue from our discontinued operations was $ 503 million , $ 1.085 billion and $ 974 million , respectively . 201cincome ( loss ) from discontinued operations , before income taxes 201d for the same periods was a loss of $ 54 million , $ 62 million and $ 3 million , respectively . in addition , 201cincome ( loss ) from discontinued operations , net of tax 201d for the same periods was a loss of $ 47 million , $ 37 million and $ 7 million , respectively . as of december 31 , 2013 , the net assets from our discontinued operations consisted of the following : december 31 , 2013 ( in thousands ) ._| | | as of december 31 2013 ( in thousands ) | |---:|:---------------------------------------------------|:------------------------------------------| | 0 | current assets from discontinued operations | $ 68239 | | 1 | noncurrent assets from discontinued operations | 9965 | | 2 | current liabilities from discontinued operations | -49471 ( 49471 ) | | 3 | long-term liabilities from discontinued operations | -19804 ( 19804 ) | | 4 | net assets from discontinued operations | $ 8929 |_.

2,013

138

DISH

DISH Network Corporation

Communication Services

Cable & Satellite

Englewood, CO

2004-01-01

1,001,082

1980

null

finqa243

what is the total amount of parent company guarantees combined for 2007 and 2008 , in millions?

582.8

add(255.7, 327.1)

notes to consolidated financial statements 2014 ( continued ) ( amounts in millions , except per share amounts ) guarantees we have certain contingent obligations under guarantees of certain of our subsidiaries ( 201cparent company guarantees 201d ) relating principally to credit facilities , guarantees of certain media payables and operating leases . the amount of such parent company guarantees was $ 255.7 and $ 327.1 as of december 31 , 2008 and 2007 , respectively . in the event of non-payment by the applicable subsidiary of the obligations covered by a guarantee , we would be obligated to pay the amounts covered by that guarantee . as of december 31 , 2008 , there are no material assets pledged as security for such parent company guarantees . contingent acquisition obligations we have structured certain acquisitions with additional contingent purchase price obligations in order to reduce the potential risk associated with negative future performance of the acquired entity . in addition , we have entered into agreements that may require us to purchase additional equity interests in certain consolidated and unconsolidated subsidiaries . the amounts relating to these transactions are based on estimates of the future financial performance of the acquired entity , the timing of the exercise of these rights , changes in foreign currency exchange rates and other factors . we have not recorded a liability for these items since the definitive amounts payable are not determinable or distributable . when the contingent acquisition obligations have been met and consideration is determinable and distributable , we record the fair value of this consideration as an additional cost of the acquired entity . however , certain acquisitions contain deferred payments that are fixed and determinable on the acquisition date . in such cases , we record a liability for the payment and record this consideration as an additional cost of the acquired entity on the acquisition date . if deferred payments and purchases of additional interests after the effective date of purchase are contingent upon the future employment of the former owners then we recognize these payments as compensation expense . compensation expense is determined based on the terms and conditions of the respective acquisition agreements and employment terms of the former owners of the acquired businesses . this future expense will not be allocated to the assets and liabilities acquired and is amortized over the required employment terms of the former owners . the following table details the estimated liability with respect to our contingent acquisition obligations and the estimated amount that would be paid in the event of exercise at the earliest exercise date . we have certain put options that are exercisable at the discretion of the minority owners as of december 31 , 2008 . as such , these estimated acquisition payments of $ 5.5 have been included within the total payments expected to be made in 2009 in the table below and , if not made in 2009 , will continue to carry forward into 2010 or beyond until they are exercised or expire . all payments are contingent upon achieving projected operating performance targets and satisfying other conditions specified in the related agreements and are subject to revisions as the earn-out periods progress . as of december 31 , 2008 , our estimated future contingent acquisition obligations payable in cash are as follows: .

1 we have entered into certain acquisitions that contain both put and call options with similar terms and conditions . in such instances , we have included the related estimated contingent acquisition obligation in the period when the earliest related option is exercisable . as a result of revisions made during 2008 to eitf topic no . d-98 , classification and measurement of redeemable securities ( 201ceitf d-98 201d ) .

| | | 2009 | 2010 | 2011 | 2012 | 2013 | thereafter | total | |---:|:----------------------------------------------|:-------|:-------|:--------|:-------|:-------|:-------------|:--------| | 0 | deferred acquisition payments | $ 67.5 | $ 32.1 | $ 30.1 | $ 4.5 | $ 5.7 | $ 2014 | $ 139.9 | | 1 | put and call options with affiliates1 | 11.8 | 34.3 | 73.6 | 70.8 | 70.2 | 2.2 | 262.9 | | 2 | total contingent acquisition payments | 79.3 | 66.4 | 103.7 | 75.3 | 75.9 | 2.2 | 402.8 | | 3 | less cash compensation expense included above | 2.6 | 1.3 | 0.7 | 0.7 | 0.3 | 2014 | 5.6 | | 4 | total | $ 76.7 | $ 65.1 | $ 103.0 | $ 74.6 | $ 75.6 | $ 2.2 | $ 397.2 |

notes to consolidated financial statements 2014 ( continued ) ( amounts in millions , except per share amounts ) guarantees we have certain contingent obligations under guarantees of certain of our subsidiaries ( 201cparent company guarantees 201d ) relating principally to credit facilities , guarantees of certain media payables and operating leases . the amount of such parent company guarantees was $ 255.7 and $ 327.1 as of december 31 , 2008 and 2007 , respectively . in the event of non-payment by the applicable subsidiary of the obligations covered by a guarantee , we would be obligated to pay the amounts covered by that guarantee . as of december 31 , 2008 , there are no material assets pledged as security for such parent company guarantees . contingent acquisition obligations we have structured certain acquisitions with additional contingent purchase price obligations in order to reduce the potential risk associated with negative future performance of the acquired entity . in addition , we have entered into agreements that may require us to purchase additional equity interests in certain consolidated and unconsolidated subsidiaries . the amounts relating to these transactions are based on estimates of the future financial performance of the acquired entity , the timing of the exercise of these rights , changes in foreign currency exchange rates and other factors . we have not recorded a liability for these items since the definitive amounts payable are not determinable or distributable . when the contingent acquisition obligations have been met and consideration is determinable and distributable , we record the fair value of this consideration as an additional cost of the acquired entity . however , certain acquisitions contain deferred payments that are fixed and determinable on the acquisition date . in such cases , we record a liability for the payment and record this consideration as an additional cost of the acquired entity on the acquisition date . if deferred payments and purchases of additional interests after the effective date of purchase are contingent upon the future employment of the former owners then we recognize these payments as compensation expense . compensation expense is determined based on the terms and conditions of the respective acquisition agreements and employment terms of the former owners of the acquired businesses . this future expense will not be allocated to the assets and liabilities acquired and is amortized over the required employment terms of the former owners . the following table details the estimated liability with respect to our contingent acquisition obligations and the estimated amount that would be paid in the event of exercise at the earliest exercise date . we have certain put options that are exercisable at the discretion of the minority owners as of december 31 , 2008 . as such , these estimated acquisition payments of $ 5.5 have been included within the total payments expected to be made in 2009 in the table below and , if not made in 2009 , will continue to carry forward into 2010 or beyond until they are exercised or expire . all payments are contingent upon achieving projected operating performance targets and satisfying other conditions specified in the related agreements and are subject to revisions as the earn-out periods progress . as of december 31 , 2008 , our estimated future contingent acquisition obligations payable in cash are as follows: ._| | | 2009 | 2010 | 2011 | 2012 | 2013 | thereafter | total | |---:|:----------------------------------------------|:-------|:-------|:--------|:-------|:-------|:-------------|:--------| | 0 | deferred acquisition payments | $ 67.5 | $ 32.1 | $ 30.1 | $ 4.5 | $ 5.7 | $ 2014 | $ 139.9 | | 1 | put and call options with affiliates1 | 11.8 | 34.3 | 73.6 | 70.8 | 70.2 | 2.2 | 262.9 | | 2 | total contingent acquisition payments | 79.3 | 66.4 | 103.7 | 75.3 | 75.9 | 2.2 | 402.8 | | 3 | less cash compensation expense included above | 2.6 | 1.3 | 0.7 | 0.7 | 0.3 | 2014 | 5.6 | | 4 | total | $ 76.7 | $ 65.1 | $ 103.0 | $ 74.6 | $ 75.6 | $ 2.2 | $ 397.2 |_1 we have entered into certain acquisitions that contain both put and call options with similar terms and conditions . in such instances , we have included the related estimated contingent acquisition obligation in the period when the earliest related option is exercisable . as a result of revisions made during 2008 to eitf topic no . d-98 , classification and measurement of redeemable securities ( 201ceitf d-98 201d ) .

2,008

93

IPG

Interpublic Group of Companies (The)

Communication Services

Advertising

New York City, New York

1992-10-01

51,644

1961 (1930)

what is the total amount of parent company guarantees combined for 2007 and 2008 , in millions?

582.8

add(255.7, 327.1)

notes to consolidated financial statements 2014 ( continued ) ( amounts in millions , except per share amounts ) guarantees we have certain contingent obligations under guarantees of certain of our subsidiaries ( 201cparent company guarantees 201d ) relating principally to credit facilities , guarantees of certain media payables and operating leases . the amount of such parent company guarantees was $ 255.7 and $ 327.1 as of december 31 , 2008 and 2007 , respectively . in the event of non-payment by the applicable subsidiary of the obligations covered by a guarantee , we would be obligated to pay the amounts covered by that guarantee . as of december 31 , 2008 , there are no material assets pledged as security for such parent company guarantees . contingent acquisition obligations we have structured certain acquisitions with additional contingent purchase price obligations in order to reduce the potential risk associated with negative future performance of the acquired entity . in addition , we have entered into agreements that may require us to purchase additional equity interests in certain consolidated and unconsolidated subsidiaries . the amounts relating to these transactions are based on estimates of the future financial performance of the acquired entity , the timing of the exercise of these rights , changes in foreign currency exchange rates and other factors . we have not recorded a liability for these items since the definitive amounts payable are not determinable or distributable . when the contingent acquisition obligations have been met and consideration is determinable and distributable , we record the fair value of this consideration as an additional cost of the acquired entity . however , certain acquisitions contain deferred payments that are fixed and determinable on the acquisition date . in such cases , we record a liability for the payment and record this consideration as an additional cost of the acquired entity on the acquisition date . if deferred payments and purchases of additional interests after the effective date of purchase are contingent upon the future employment of the former owners then we recognize these payments as compensation expense . compensation expense is determined based on the terms and conditions of the respective acquisition agreements and employment terms of the former owners of the acquired businesses . this future expense will not be allocated to the assets and liabilities acquired and is amortized over the required employment terms of the former owners . the following table details the estimated liability with respect to our contingent acquisition obligations and the estimated amount that would be paid in the event of exercise at the earliest exercise date . we have certain put options that are exercisable at the discretion of the minority owners as of december 31 , 2008 . as such , these estimated acquisition payments of $ 5.5 have been included within the total payments expected to be made in 2009 in the table below and , if not made in 2009 , will continue to carry forward into 2010 or beyond until they are exercised or expire . all payments are contingent upon achieving projected operating performance targets and satisfying other conditions specified in the related agreements and are subject to revisions as the earn-out periods progress . as of december 31 , 2008 , our estimated future contingent acquisition obligations payable in cash are as follows: .

1 we have entered into certain acquisitions that contain both put and call options with similar terms and conditions . in such instances , we have included the related estimated contingent acquisition obligation in the period when the earliest related option is exercisable . as a result of revisions made during 2008 to eitf topic no . d-98 , classification and measurement of redeemable securities ( 201ceitf d-98 201d ) .

| | | 2009 | 2010 | 2011 | 2012 | 2013 | thereafter | total | |---:|:----------------------------------------------|:-------|:-------|:--------|:-------|:-------|:-------------|:--------| | 0 | deferred acquisition payments | $ 67.5 | $ 32.1 | $ 30.1 | $ 4.5 | $ 5.7 | $ 2014 | $ 139.9 | | 1 | put and call options with affiliates1 | 11.8 | 34.3 | 73.6 | 70.8 | 70.2 | 2.2 | 262.9 | | 2 | total contingent acquisition payments | 79.3 | 66.4 | 103.7 | 75.3 | 75.9 | 2.2 | 402.8 | | 3 | less cash compensation expense included above | 2.6 | 1.3 | 0.7 | 0.7 | 0.3 | 2014 | 5.6 | | 4 | total | $ 76.7 | $ 65.1 | $ 103.0 | $ 74.6 | $ 75.6 | $ 2.2 | $ 397.2 |

notes to consolidated financial statements 2014 ( continued ) ( amounts in millions , except per share amounts ) guarantees we have certain contingent obligations under guarantees of certain of our subsidiaries ( 201cparent company guarantees 201d ) relating principally to credit facilities , guarantees of certain media payables and operating leases . the amount of such parent company guarantees was $ 255.7 and $ 327.1 as of december 31 , 2008 and 2007 , respectively . in the event of non-payment by the applicable subsidiary of the obligations covered by a guarantee , we would be obligated to pay the amounts covered by that guarantee . as of december 31 , 2008 , there are no material assets pledged as security for such parent company guarantees . contingent acquisition obligations we have structured certain acquisitions with additional contingent purchase price obligations in order to reduce the potential risk associated with negative future performance of the acquired entity . in addition , we have entered into agreements that may require us to purchase additional equity interests in certain consolidated and unconsolidated subsidiaries . the amounts relating to these transactions are based on estimates of the future financial performance of the acquired entity , the timing of the exercise of these rights , changes in foreign currency exchange rates and other factors . we have not recorded a liability for these items since the definitive amounts payable are not determinable or distributable . when the contingent acquisition obligations have been met and consideration is determinable and distributable , we record the fair value of this consideration as an additional cost of the acquired entity . however , certain acquisitions contain deferred payments that are fixed and determinable on the acquisition date . in such cases , we record a liability for the payment and record this consideration as an additional cost of the acquired entity on the acquisition date . if deferred payments and purchases of additional interests after the effective date of purchase are contingent upon the future employment of the former owners then we recognize these payments as compensation expense . compensation expense is determined based on the terms and conditions of the respective acquisition agreements and employment terms of the former owners of the acquired businesses . this future expense will not be allocated to the assets and liabilities acquired and is amortized over the required employment terms of the former owners . the following table details the estimated liability with respect to our contingent acquisition obligations and the estimated amount that would be paid in the event of exercise at the earliest exercise date . we have certain put options that are exercisable at the discretion of the minority owners as of december 31 , 2008 . as such , these estimated acquisition payments of $ 5.5 have been included within the total payments expected to be made in 2009 in the table below and , if not made in 2009 , will continue to carry forward into 2010 or beyond until they are exercised or expire . all payments are contingent upon achieving projected operating performance targets and satisfying other conditions specified in the related agreements and are subject to revisions as the earn-out periods progress . as of december 31 , 2008 , our estimated future contingent acquisition obligations payable in cash are as follows: ._| | | 2009 | 2010 | 2011 | 2012 | 2013 | thereafter | total | |---:|:----------------------------------------------|:-------|:-------|:--------|:-------|:-------|:-------------|:--------| | 0 | deferred acquisition payments | $ 67.5 | $ 32.1 | $ 30.1 | $ 4.5 | $ 5.7 | $ 2014 | $ 139.9 | | 1 | put and call options with affiliates1 | 11.8 | 34.3 | 73.6 | 70.8 | 70.2 | 2.2 | 262.9 | | 2 | total contingent acquisition payments | 79.3 | 66.4 | 103.7 | 75.3 | 75.9 | 2.2 | 402.8 | | 3 | less cash compensation expense included above | 2.6 | 1.3 | 0.7 | 0.7 | 0.3 | 2014 | 5.6 | | 4 | total | $ 76.7 | $ 65.1 | $ 103.0 | $ 74.6 | $ 75.6 | $ 2.2 | $ 397.2 |_1 we have entered into certain acquisitions that contain both put and call options with similar terms and conditions . in such instances , we have included the related estimated contingent acquisition obligation in the period when the earliest related option is exercisable . as a result of revisions made during 2008 to eitf topic no . d-98 , classification and measurement of redeemable securities ( 201ceitf d-98 201d ) .

2,008

93

IPG

Interpublic Group of Companies (The)

Communication Services

Advertising

New York City, New York

1992-10-01

51,644

1961 (1930)

null

finqa244

what percent increase in net income was experienced between 2015 and 2016

6.51%

divide(92.9, subtract(1520.5, 92.9))

entergy arkansas , inc . and subsidiaries management 2019s financial discussion and analysis results of operations net income 2017 compared to 2016 net income decreased $ 27.4 million primarily due to higher nuclear refueling outage expenses , higher depreciation and amortization expenses , higher taxes other than income taxes , and higher interest expense , partially offset by higher other income . 2016 compared to 2015 net income increased $ 92.9 million primarily due to higher net revenue and lower other operation and maintenance expenses , partially offset by a higher effective income tax rate and higher depreciation and amortization expenses . net revenue 2017 compared to 2016 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 ) . a0 a0following is an analysis of the change in net revenue comparing 2017 to 2016 . amount ( in millions ) .

the retail electric price variance is primarily due to the implementation of formula rate plan rates effective with the first billing cycle of january 2017 and an increase in base rates effective february 24 , 2016 , each as approved by the apsc . a significant portion of the base rate increase was related to the purchase of power block 2 of the union power station in march 2016 . the increase was partially offset by decreases in the energy efficiency rider , as approved by the apsc , effective april 2016 and january 2017 . see note 2 to the financial statements for further discussion of the rate case and formula rate plan filings . see note 14 to the financial statements for further discussion of the union power station purchase . the opportunity sales variance results from the estimated net revenue effect of the 2017 and 2016 ferc orders in the opportunity sales proceeding attributable to wholesale customers . see note 2 to the financial statements for further discussion of the opportunity sales proceeding. .

| | | amount ( in millions ) | |---:|:----------------------------|:-------------------------| | 0 | 2016 net revenue | $ 1520.5 | | 1 | retail electric price | 33.8 | | 2 | opportunity sales | 5.6 | | 3 | asset retirement obligation | -14.8 ( 14.8 ) | | 4 | volume/weather | -29.0 ( 29.0 ) | | 5 | other | 6.5 | | 6 | 2017 net revenue | $ 1522.6 |

entergy arkansas , inc . and subsidiaries management 2019s financial discussion and analysis results of operations net income 2017 compared to 2016 net income decreased $ 27.4 million primarily due to higher nuclear refueling outage expenses , higher depreciation and amortization expenses , higher taxes other than income taxes , and higher interest expense , partially offset by higher other income . 2016 compared to 2015 net income increased $ 92.9 million primarily due to higher net revenue and lower other operation and maintenance expenses , partially offset by a higher effective income tax rate and higher depreciation and amortization expenses . net revenue 2017 compared to 2016 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 ) . a0 a0following is an analysis of the change in net revenue comparing 2017 to 2016 . amount ( in millions ) ._| | | amount ( in millions ) | |---:|:----------------------------|:-------------------------| | 0 | 2016 net revenue | $ 1520.5 | | 1 | retail electric price | 33.8 | | 2 | opportunity sales | 5.6 | | 3 | asset retirement obligation | -14.8 ( 14.8 ) | | 4 | volume/weather | -29.0 ( 29.0 ) | | 5 | other | 6.5 | | 6 | 2017 net revenue | $ 1522.6 |_the retail electric price variance is primarily due to the implementation of formula rate plan rates effective with the first billing cycle of january 2017 and an increase in base rates effective february 24 , 2016 , each as approved by the apsc . a significant portion of the base rate increase was related to the purchase of power block 2 of the union power station in march 2016 . the increase was partially offset by decreases in the energy efficiency rider , as approved by the apsc , effective april 2016 and january 2017 . see note 2 to the financial statements for further discussion of the rate case and formula rate plan filings . see note 14 to the financial statements for further discussion of the union power station purchase . the opportunity sales variance results from the estimated net revenue effect of the 2017 and 2016 ferc orders in the opportunity sales proceeding attributable to wholesale customers . see note 2 to the financial statements for further discussion of the opportunity sales proceeding. .

2,017

316

ETR

Entergy

Utilities

Electric Utilities

New Orleans, Louisiana

1957-03-04

65,984

1913

what percent increase in net income was experienced between 2015 and 2016

6.51%

divide(92.9, subtract(1520.5, 92.9))

entergy arkansas , inc . and subsidiaries management 2019s financial discussion and analysis results of operations net income 2017 compared to 2016 net income decreased $ 27.4 million primarily due to higher nuclear refueling outage expenses , higher depreciation and amortization expenses , higher taxes other than income taxes , and higher interest expense , partially offset by higher other income . 2016 compared to 2015 net income increased $ 92.9 million primarily due to higher net revenue and lower other operation and maintenance expenses , partially offset by a higher effective income tax rate and higher depreciation and amortization expenses . net revenue 2017 compared to 2016 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 ) . a0 a0following is an analysis of the change in net revenue comparing 2017 to 2016 . amount ( in millions ) .

the retail electric price variance is primarily due to the implementation of formula rate plan rates effective with the first billing cycle of january 2017 and an increase in base rates effective february 24 , 2016 , each as approved by the apsc . a significant portion of the base rate increase was related to the purchase of power block 2 of the union power station in march 2016 . the increase was partially offset by decreases in the energy efficiency rider , as approved by the apsc , effective april 2016 and january 2017 . see note 2 to the financial statements for further discussion of the rate case and formula rate plan filings . see note 14 to the financial statements for further discussion of the union power station purchase . the opportunity sales variance results from the estimated net revenue effect of the 2017 and 2016 ferc orders in the opportunity sales proceeding attributable to wholesale customers . see note 2 to the financial statements for further discussion of the opportunity sales proceeding. .

| | | amount ( in millions ) | |---:|:----------------------------|:-------------------------| | 0 | 2016 net revenue | $ 1520.5 | | 1 | retail electric price | 33.8 | | 2 | opportunity sales | 5.6 | | 3 | asset retirement obligation | -14.8 ( 14.8 ) | | 4 | volume/weather | -29.0 ( 29.0 ) | | 5 | other | 6.5 | | 6 | 2017 net revenue | $ 1522.6 |

entergy arkansas , inc . and subsidiaries management 2019s financial discussion and analysis results of operations net income 2017 compared to 2016 net income decreased $ 27.4 million primarily due to higher nuclear refueling outage expenses , higher depreciation and amortization expenses , higher taxes other than income taxes , and higher interest expense , partially offset by higher other income . 2016 compared to 2015 net income increased $ 92.9 million primarily due to higher net revenue and lower other operation and maintenance expenses , partially offset by a higher effective income tax rate and higher depreciation and amortization expenses . net revenue 2017 compared to 2016 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 ) . a0 a0following is an analysis of the change in net revenue comparing 2017 to 2016 . amount ( in millions ) ._| | | amount ( in millions ) | |---:|:----------------------------|:-------------------------| | 0 | 2016 net revenue | $ 1520.5 | | 1 | retail electric price | 33.8 | | 2 | opportunity sales | 5.6 | | 3 | asset retirement obligation | -14.8 ( 14.8 ) | | 4 | volume/weather | -29.0 ( 29.0 ) | | 5 | other | 6.5 | | 6 | 2017 net revenue | $ 1522.6 |_the retail electric price variance is primarily due to the implementation of formula rate plan rates effective with the first billing cycle of january 2017 and an increase in base rates effective february 24 , 2016 , each as approved by the apsc . a significant portion of the base rate increase was related to the purchase of power block 2 of the union power station in march 2016 . the increase was partially offset by decreases in the energy efficiency rider , as approved by the apsc , effective april 2016 and january 2017 . see note 2 to the financial statements for further discussion of the rate case and formula rate plan filings . see note 14 to the financial statements for further discussion of the union power station purchase . the opportunity sales variance results from the estimated net revenue effect of the 2017 and 2016 ferc orders in the opportunity sales proceeding attributable to wholesale customers . see note 2 to the financial statements for further discussion of the opportunity sales proceeding. .

2,017

316

ETR

Entergy

Utilities

Electric Utilities

New Orleans, Louisiana

1957-03-04

65,984

1913

null

finqa245

in 2008 what was the percent of the total gaap stockholders 2019 equity and aggregate statutory capital associated with life operations

43.9%

divide(6047, 13777)

table of contents the table below sets forth statutory surplus for the company 2019s insurance companies . the statutory surplus amounts as of december 31 , 2007 in the table below are based on actual statutory filings with the applicable regulatory authorities . the statutory surplus amounts as of december 31 , 2008 are estimates , as the respective 2008 statutory filings have not yet been the company has received approval from the connecticut insurance department regarding the use of two permitted practices in the statutory financial statements of its connecticut-domiciled life insurance subsidiaries as of december 31 , 2008 . the first permitted practice relates to the statutory accounting for deferred income taxes . specifically , this permitted practice modifies the accounting for deferred income taxes prescribed by the naic by increasing the realization period for deferred tax assets from one year to three years and increasing the asset recognition limit from 10% ( 10 % ) to 15% ( 15 % ) of adjusted statutory capital and surplus . the benefits of this permitted practice may not be considered by the company when determining surplus available for dividends . the second permitted practice relates to the statutory reserving requirements for variable annuities with guaranteed living benefit riders . actuarial guidelines prescribed by the naic require a stand-alone asset adequacy analysis reflecting only benefits , expenses and charges that are associated with the riders for variable annuities with guaranteed living benefits . the permitted practice allows for all benefits , expenses and charges associated with the variable annuity contract to be reflected in the stand- alone asset adequacy test . these permitted practices resulted in an increase to life operations estimated statutory surplus of $ 987 as of december 31 , 2008 . the effects of these permitted practices are included in the 2008 life operations surplus amount in the table above . statutory capital the company 2019s stockholders 2019 equity , as prepared using u.s . gaap was $ 9.3 billion as of december 31 , 2008 . the company 2019s estimated aggregate statutory capital and surplus , as prepared in accordance with the national association of insurance commissioners 2019 accounting practices and procedures manual ( 201cus stat 201d ) was $ 13.8 billion as of december 31 , 2008 . significant differences between u.s . gaap stockholders 2019 equity and aggregate statutory capital and surplus prepared in accordance with us stat include the following: .

2022 costs incurred by the company to acquire insurance policies are deferred under u.s . gaap while those costs are expensed immediately under us stat . 2022 temporary differences between the book and tax basis of an asset or liability which are recorded as deferred tax assets are evaluated for recoverability under u.s . gaap while those amounts deferred are subject to limitations under us stat . 2022 certain assumptions used in the determination of life benefit reserves are prescribed under us stat and are intended to be conservative , while the assumptions used under u.s . gaap are generally the company 2019s best estimates . in addition , the methodologies used for determining life reserve amounts are different between us stat and u.s . gaap . annuity reserving and cash-flow testing for death and living benefit reserves under us stat are generally addressed by the commissioners 2019 annuity reserving valuation methodology and the related actuarial guidelines . under these actuarial guidelines , in general , future cash flows associated with the variable annuity business are included in these methodologies with estimates of future fee revenues , claim payments , expenses , reinsurance impacts and hedging impacts . at december 31 , 2008 , in determining the cash-flow impacts related to future hedging , assumptions were made in the scenarios that generate reserve requirements , about the potential future decreases in the hedge benefits and increases in hedge costs which resulted in increased reserve requirements . reserves for death and living benefits under u.s . gaap are either considered embedded derivatives and recorded at fair value or they may be considered sop 03-1 reserves . 2022 the difference between the amortized cost and fair value of fixed maturity and other investments , net of tax , is recorded as an increase or decrease to the carrying value of the related asset and to equity under u.s . gaap , while us stat only records certain securities at fair value , such as equity securities and certain lower rated bonds required by the naic to be recorded at the lower of amortized cost or fair value . in the case of the company 2019s market value adjusted ( mva ) fixed annuity products , invested assets are marked to fair value ( including the impact of credit spreads ) and liabilities are marked to fair value ( but generally actual credit spreads are not fully reflected ) for statutory purposes only . 2022 us stat for life insurance companies establishes a formula reserve for realized and unrealized losses due to default and equity risks associated with certain invested assets ( the asset valuation reserve ) , while u.s . gaap does not . also , for those realized gains and losses caused by changes in interest rates , us stat for life insurance companies defers and amortizes the gains and losses , caused by changes in interest rates , into income over the original life to maturity of the asset sold ( the interest maintenance reserve ) while u.s . gaap does not . 2022 goodwill arising from the acquisition of a business is tested for recoverability on an annual basis ( or more frequently , as necessary ) for u.s . gaap , while under us stat goodwill is amortized over a period not to exceed 10 years and the .

| | | 2008 | 2007 | |---:|:-------------------------------|:--------|:--------| | 0 | life operations | $ 6047 | $ 5786 | | 1 | japan life operations | 1718 | 1620 | | 2 | property & casualty operations | 6012 | 8509 | | 3 | total | $ 13777 | $ 15915 |

table of contents the table below sets forth statutory surplus for the company 2019s insurance companies . the statutory surplus amounts as of december 31 , 2007 in the table below are based on actual statutory filings with the applicable regulatory authorities . the statutory surplus amounts as of december 31 , 2008 are estimates , as the respective 2008 statutory filings have not yet been the company has received approval from the connecticut insurance department regarding the use of two permitted practices in the statutory financial statements of its connecticut-domiciled life insurance subsidiaries as of december 31 , 2008 . the first permitted practice relates to the statutory accounting for deferred income taxes . specifically , this permitted practice modifies the accounting for deferred income taxes prescribed by the naic by increasing the realization period for deferred tax assets from one year to three years and increasing the asset recognition limit from 10% ( 10 % ) to 15% ( 15 % ) of adjusted statutory capital and surplus . the benefits of this permitted practice may not be considered by the company when determining surplus available for dividends . the second permitted practice relates to the statutory reserving requirements for variable annuities with guaranteed living benefit riders . actuarial guidelines prescribed by the naic require a stand-alone asset adequacy analysis reflecting only benefits , expenses and charges that are associated with the riders for variable annuities with guaranteed living benefits . the permitted practice allows for all benefits , expenses and charges associated with the variable annuity contract to be reflected in the stand- alone asset adequacy test . these permitted practices resulted in an increase to life operations estimated statutory surplus of $ 987 as of december 31 , 2008 . the effects of these permitted practices are included in the 2008 life operations surplus amount in the table above . statutory capital the company 2019s stockholders 2019 equity , as prepared using u.s . gaap was $ 9.3 billion as of december 31 , 2008 . the company 2019s estimated aggregate statutory capital and surplus , as prepared in accordance with the national association of insurance commissioners 2019 accounting practices and procedures manual ( 201cus stat 201d ) was $ 13.8 billion as of december 31 , 2008 . significant differences between u.s . gaap stockholders 2019 equity and aggregate statutory capital and surplus prepared in accordance with us stat include the following: ._| | | 2008 | 2007 | |---:|:-------------------------------|:--------|:--------| | 0 | life operations | $ 6047 | $ 5786 | | 1 | japan life operations | 1718 | 1620 | | 2 | property & casualty operations | 6012 | 8509 | | 3 | total | $ 13777 | $ 15915 |_2022 costs incurred by the company to acquire insurance policies are deferred under u.s . gaap while those costs are expensed immediately under us stat . 2022 temporary differences between the book and tax basis of an asset or liability which are recorded as deferred tax assets are evaluated for recoverability under u.s . gaap while those amounts deferred are subject to limitations under us stat . 2022 certain assumptions used in the determination of life benefit reserves are prescribed under us stat and are intended to be conservative , while the assumptions used under u.s . gaap are generally the company 2019s best estimates . in addition , the methodologies used for determining life reserve amounts are different between us stat and u.s . gaap . annuity reserving and cash-flow testing for death and living benefit reserves under us stat are generally addressed by the commissioners 2019 annuity reserving valuation methodology and the related actuarial guidelines . under these actuarial guidelines , in general , future cash flows associated with the variable annuity business are included in these methodologies with estimates of future fee revenues , claim payments , expenses , reinsurance impacts and hedging impacts . at december 31 , 2008 , in determining the cash-flow impacts related to future hedging , assumptions were made in the scenarios that generate reserve requirements , about the potential future decreases in the hedge benefits and increases in hedge costs which resulted in increased reserve requirements . reserves for death and living benefits under u.s . gaap are either considered embedded derivatives and recorded at fair value or they may be considered sop 03-1 reserves . 2022 the difference between the amortized cost and fair value of fixed maturity and other investments , net of tax , is recorded as an increase or decrease to the carrying value of the related asset and to equity under u.s . gaap , while us stat only records certain securities at fair value , such as equity securities and certain lower rated bonds required by the naic to be recorded at the lower of amortized cost or fair value . in the case of the company 2019s market value adjusted ( mva ) fixed annuity products , invested assets are marked to fair value ( including the impact of credit spreads ) and liabilities are marked to fair value ( but generally actual credit spreads are not fully reflected ) for statutory purposes only . 2022 us stat for life insurance companies establishes a formula reserve for realized and unrealized losses due to default and equity risks associated with certain invested assets ( the asset valuation reserve ) , while u.s . gaap does not . also , for those realized gains and losses caused by changes in interest rates , us stat for life insurance companies defers and amortizes the gains and losses , caused by changes in interest rates , into income over the original life to maturity of the asset sold ( the interest maintenance reserve ) while u.s . gaap does not . 2022 goodwill arising from the acquisition of a business is tested for recoverability on an annual basis ( or more frequently , as necessary ) for u.s . gaap , while under us stat goodwill is amortized over a period not to exceed 10 years and the .

2,008

318

HIG

Hartford (The)

Financials

Property & Casualty Insurance

Hartford, Connecticut

1957-03-04

874,766

1810

in 2008 what was the percent of the total gaap stockholders 2019 equity and aggregate statutory capital associated with life operations

43.9%

divide(6047, 13777)

table of contents the table below sets forth statutory surplus for the company 2019s insurance companies . the statutory surplus amounts as of december 31 , 2007 in the table below are based on actual statutory filings with the applicable regulatory authorities . the statutory surplus amounts as of december 31 , 2008 are estimates , as the respective 2008 statutory filings have not yet been the company has received approval from the connecticut insurance department regarding the use of two permitted practices in the statutory financial statements of its connecticut-domiciled life insurance subsidiaries as of december 31 , 2008 . the first permitted practice relates to the statutory accounting for deferred income taxes . specifically , this permitted practice modifies the accounting for deferred income taxes prescribed by the naic by increasing the realization period for deferred tax assets from one year to three years and increasing the asset recognition limit from 10% ( 10 % ) to 15% ( 15 % ) of adjusted statutory capital and surplus . the benefits of this permitted practice may not be considered by the company when determining surplus available for dividends . the second permitted practice relates to the statutory reserving requirements for variable annuities with guaranteed living benefit riders . actuarial guidelines prescribed by the naic require a stand-alone asset adequacy analysis reflecting only benefits , expenses and charges that are associated with the riders for variable annuities with guaranteed living benefits . the permitted practice allows for all benefits , expenses and charges associated with the variable annuity contract to be reflected in the stand- alone asset adequacy test . these permitted practices resulted in an increase to life operations estimated statutory surplus of $ 987 as of december 31 , 2008 . the effects of these permitted practices are included in the 2008 life operations surplus amount in the table above . statutory capital the company 2019s stockholders 2019 equity , as prepared using u.s . gaap was $ 9.3 billion as of december 31 , 2008 . the company 2019s estimated aggregate statutory capital and surplus , as prepared in accordance with the national association of insurance commissioners 2019 accounting practices and procedures manual ( 201cus stat 201d ) was $ 13.8 billion as of december 31 , 2008 . significant differences between u.s . gaap stockholders 2019 equity and aggregate statutory capital and surplus prepared in accordance with us stat include the following: .

2022 costs incurred by the company to acquire insurance policies are deferred under u.s . gaap while those costs are expensed immediately under us stat . 2022 temporary differences between the book and tax basis of an asset or liability which are recorded as deferred tax assets are evaluated for recoverability under u.s . gaap while those amounts deferred are subject to limitations under us stat . 2022 certain assumptions used in the determination of life benefit reserves are prescribed under us stat and are intended to be conservative , while the assumptions used under u.s . gaap are generally the company 2019s best estimates . in addition , the methodologies used for determining life reserve amounts are different between us stat and u.s . gaap . annuity reserving and cash-flow testing for death and living benefit reserves under us stat are generally addressed by the commissioners 2019 annuity reserving valuation methodology and the related actuarial guidelines . under these actuarial guidelines , in general , future cash flows associated with the variable annuity business are included in these methodologies with estimates of future fee revenues , claim payments , expenses , reinsurance impacts and hedging impacts . at december 31 , 2008 , in determining the cash-flow impacts related to future hedging , assumptions were made in the scenarios that generate reserve requirements , about the potential future decreases in the hedge benefits and increases in hedge costs which resulted in increased reserve requirements . reserves for death and living benefits under u.s . gaap are either considered embedded derivatives and recorded at fair value or they may be considered sop 03-1 reserves . 2022 the difference between the amortized cost and fair value of fixed maturity and other investments , net of tax , is recorded as an increase or decrease to the carrying value of the related asset and to equity under u.s . gaap , while us stat only records certain securities at fair value , such as equity securities and certain lower rated bonds required by the naic to be recorded at the lower of amortized cost or fair value . in the case of the company 2019s market value adjusted ( mva ) fixed annuity products , invested assets are marked to fair value ( including the impact of credit spreads ) and liabilities are marked to fair value ( but generally actual credit spreads are not fully reflected ) for statutory purposes only . 2022 us stat for life insurance companies establishes a formula reserve for realized and unrealized losses due to default and equity risks associated with certain invested assets ( the asset valuation reserve ) , while u.s . gaap does not . also , for those realized gains and losses caused by changes in interest rates , us stat for life insurance companies defers and amortizes the gains and losses , caused by changes in interest rates , into income over the original life to maturity of the asset sold ( the interest maintenance reserve ) while u.s . gaap does not . 2022 goodwill arising from the acquisition of a business is tested for recoverability on an annual basis ( or more frequently , as necessary ) for u.s . gaap , while under us stat goodwill is amortized over a period not to exceed 10 years and the .

| | | 2008 | 2007 | |---:|:-------------------------------|:--------|:--------| | 0 | life operations | $ 6047 | $ 5786 | | 1 | japan life operations | 1718 | 1620 | | 2 | property & casualty operations | 6012 | 8509 | | 3 | total | $ 13777 | $ 15915 |

table of contents the table below sets forth statutory surplus for the company 2019s insurance companies . the statutory surplus amounts as of december 31 , 2007 in the table below are based on actual statutory filings with the applicable regulatory authorities . the statutory surplus amounts as of december 31 , 2008 are estimates , as the respective 2008 statutory filings have not yet been the company has received approval from the connecticut insurance department regarding the use of two permitted practices in the statutory financial statements of its connecticut-domiciled life insurance subsidiaries as of december 31 , 2008 . the first permitted practice relates to the statutory accounting for deferred income taxes . specifically , this permitted practice modifies the accounting for deferred income taxes prescribed by the naic by increasing the realization period for deferred tax assets from one year to three years and increasing the asset recognition limit from 10% ( 10 % ) to 15% ( 15 % ) of adjusted statutory capital and surplus . the benefits of this permitted practice may not be considered by the company when determining surplus available for dividends . the second permitted practice relates to the statutory reserving requirements for variable annuities with guaranteed living benefit riders . actuarial guidelines prescribed by the naic require a stand-alone asset adequacy analysis reflecting only benefits , expenses and charges that are associated with the riders for variable annuities with guaranteed living benefits . the permitted practice allows for all benefits , expenses and charges associated with the variable annuity contract to be reflected in the stand- alone asset adequacy test . these permitted practices resulted in an increase to life operations estimated statutory surplus of $ 987 as of december 31 , 2008 . the effects of these permitted practices are included in the 2008 life operations surplus amount in the table above . statutory capital the company 2019s stockholders 2019 equity , as prepared using u.s . gaap was $ 9.3 billion as of december 31 , 2008 . the company 2019s estimated aggregate statutory capital and surplus , as prepared in accordance with the national association of insurance commissioners 2019 accounting practices and procedures manual ( 201cus stat 201d ) was $ 13.8 billion as of december 31 , 2008 . significant differences between u.s . gaap stockholders 2019 equity and aggregate statutory capital and surplus prepared in accordance with us stat include the following: ._| | | 2008 | 2007 | |---:|:-------------------------------|:--------|:--------| | 0 | life operations | $ 6047 | $ 5786 | | 1 | japan life operations | 1718 | 1620 | | 2 | property & casualty operations | 6012 | 8509 | | 3 | total | $ 13777 | $ 15915 |_2022 costs incurred by the company to acquire insurance policies are deferred under u.s . gaap while those costs are expensed immediately under us stat . 2022 temporary differences between the book and tax basis of an asset or liability which are recorded as deferred tax assets are evaluated for recoverability under u.s . gaap while those amounts deferred are subject to limitations under us stat . 2022 certain assumptions used in the determination of life benefit reserves are prescribed under us stat and are intended to be conservative , while the assumptions used under u.s . gaap are generally the company 2019s best estimates . in addition , the methodologies used for determining life reserve amounts are different between us stat and u.s . gaap . annuity reserving and cash-flow testing for death and living benefit reserves under us stat are generally addressed by the commissioners 2019 annuity reserving valuation methodology and the related actuarial guidelines . under these actuarial guidelines , in general , future cash flows associated with the variable annuity business are included in these methodologies with estimates of future fee revenues , claim payments , expenses , reinsurance impacts and hedging impacts . at december 31 , 2008 , in determining the cash-flow impacts related to future hedging , assumptions were made in the scenarios that generate reserve requirements , about the potential future decreases in the hedge benefits and increases in hedge costs which resulted in increased reserve requirements . reserves for death and living benefits under u.s . gaap are either considered embedded derivatives and recorded at fair value or they may be considered sop 03-1 reserves . 2022 the difference between the amortized cost and fair value of fixed maturity and other investments , net of tax , is recorded as an increase or decrease to the carrying value of the related asset and to equity under u.s . gaap , while us stat only records certain securities at fair value , such as equity securities and certain lower rated bonds required by the naic to be recorded at the lower of amortized cost or fair value . in the case of the company 2019s market value adjusted ( mva ) fixed annuity products , invested assets are marked to fair value ( including the impact of credit spreads ) and liabilities are marked to fair value ( but generally actual credit spreads are not fully reflected ) for statutory purposes only . 2022 us stat for life insurance companies establishes a formula reserve for realized and unrealized losses due to default and equity risks associated with certain invested assets ( the asset valuation reserve ) , while u.s . gaap does not . also , for those realized gains and losses caused by changes in interest rates , us stat for life insurance companies defers and amortizes the gains and losses , caused by changes in interest rates , into income over the original life to maturity of the asset sold ( the interest maintenance reserve ) while u.s . gaap does not . 2022 goodwill arising from the acquisition of a business is tested for recoverability on an annual basis ( or more frequently , as necessary ) for u.s . gaap , while under us stat goodwill is amortized over a period not to exceed 10 years and the .

2,008

318

HIG

Hartford (The)

Financials

Property & Casualty Insurance

Hartford, Connecticut

1957-03-04

874,766

1810

null

finqa246

what was the return on total assets during 2013?

4.2%

divide(261, 6190)

item 6 . selected financial data the following table sets forth our selected financial data . the table should be read in conjunction with item 7 and item 8 of this annual report on form 10-k. .

( 1 ) long-term debt does not include the current portion of long-term debt , which is included in current liabilities . ( 2 ) free cash flow is a non-gaap financial measure and represents cash from operating activities less capital expenditures net of related grant proceeds . see liquidity and capital resources in item 7 for more information on this measure. .

| | ( $ in millions except per share amounts ) | year ended december 31 2017 | year ended december 31 2016 | year ended december 31 2015 | year ended december 31 2014 | year ended december 31 2013 | |---:|:------------------------------------------------------|:------------------------------|:------------------------------|:------------------------------|:------------------------------|:------------------------------| | 0 | sales and service revenues | $ 7441 | $ 7068 | $ 7020 | $ 6957 | $ 6820 | | 1 | goodwill impairment | 2014 | 2014 | 75 | 47 | 2014 | | 2 | operating income ( loss ) | 865 | 858 | 769 | 655 | 512 | | 3 | net earnings ( loss ) | 479 | 573 | 404 | 338 | 261 | | 4 | total assets | 6374 | 6352 | 6024 | 6239 | 6190 | | 5 | long-term debt ( 1 ) | 1279 | 1278 | 1273 | 1562 | 1665 | | 6 | total long-term obligations | 3225 | 3356 | 3260 | 3562 | 3277 | | 7 | net cash provided by ( used in ) operating activities | 814 | 822 | 861 | 755 | 260 | | 8 | free cash flow ( 2 ) | 453 | 537 | 673 | 590 | 121 | | 9 | dividends declared per share | $ 2.52 | $ 2.10 | $ 1.70 | $ 1.00 | $ 0.50 | | 10 | basic earnings ( loss ) per share | $ 10.48 | $ 12.24 | $ 8.43 | $ 6.93 | $ 5.25 | | 11 | diluted earnings ( loss ) per share | $ 10.46 | $ 12.14 | $ 8.36 | $ 6.86 | $ 5.18 |

item 6 . selected financial data the following table sets forth our selected financial data . the table should be read in conjunction with item 7 and item 8 of this annual report on form 10-k. ._| | ( $ in millions except per share amounts ) | year ended december 31 2017 | year ended december 31 2016 | year ended december 31 2015 | year ended december 31 2014 | year ended december 31 2013 | |---:|:------------------------------------------------------|:------------------------------|:------------------------------|:------------------------------|:------------------------------|:------------------------------| | 0 | sales and service revenues | $ 7441 | $ 7068 | $ 7020 | $ 6957 | $ 6820 | | 1 | goodwill impairment | 2014 | 2014 | 75 | 47 | 2014 | | 2 | operating income ( loss ) | 865 | 858 | 769 | 655 | 512 | | 3 | net earnings ( loss ) | 479 | 573 | 404 | 338 | 261 | | 4 | total assets | 6374 | 6352 | 6024 | 6239 | 6190 | | 5 | long-term debt ( 1 ) | 1279 | 1278 | 1273 | 1562 | 1665 | | 6 | total long-term obligations | 3225 | 3356 | 3260 | 3562 | 3277 | | 7 | net cash provided by ( used in ) operating activities | 814 | 822 | 861 | 755 | 260 | | 8 | free cash flow ( 2 ) | 453 | 537 | 673 | 590 | 121 | | 9 | dividends declared per share | $ 2.52 | $ 2.10 | $ 1.70 | $ 1.00 | $ 0.50 | | 10 | basic earnings ( loss ) per share | $ 10.48 | $ 12.24 | $ 8.43 | $ 6.93 | $ 5.25 | | 11 | diluted earnings ( loss ) per share | $ 10.46 | $ 12.14 | $ 8.36 | $ 6.86 | $ 5.18 |_( 1 ) long-term debt does not include the current portion of long-term debt , which is included in current liabilities . ( 2 ) free cash flow is a non-gaap financial measure and represents cash from operating activities less capital expenditures net of related grant proceeds . see liquidity and capital resources in item 7 for more information on this measure. .

2,017

47

HII

Huntington Ingalls Industries

Industrials

Aerospace & Defense

Newport News, Virginia

2018-01-03

1,501,585

2011

what was the return on total assets during 2013?

4.2%

divide(261, 6190)

item 6 . selected financial data the following table sets forth our selected financial data . the table should be read in conjunction with item 7 and item 8 of this annual report on form 10-k. .

( 1 ) long-term debt does not include the current portion of long-term debt , which is included in current liabilities . ( 2 ) free cash flow is a non-gaap financial measure and represents cash from operating activities less capital expenditures net of related grant proceeds . see liquidity and capital resources in item 7 for more information on this measure. .

| | ( $ in millions except per share amounts ) | year ended december 31 2017 | year ended december 31 2016 | year ended december 31 2015 | year ended december 31 2014 | year ended december 31 2013 | |---:|:------------------------------------------------------|:------------------------------|:------------------------------|:------------------------------|:------------------------------|:------------------------------| | 0 | sales and service revenues | $ 7441 | $ 7068 | $ 7020 | $ 6957 | $ 6820 | | 1 | goodwill impairment | 2014 | 2014 | 75 | 47 | 2014 | | 2 | operating income ( loss ) | 865 | 858 | 769 | 655 | 512 | | 3 | net earnings ( loss ) | 479 | 573 | 404 | 338 | 261 | | 4 | total assets | 6374 | 6352 | 6024 | 6239 | 6190 | | 5 | long-term debt ( 1 ) | 1279 | 1278 | 1273 | 1562 | 1665 | | 6 | total long-term obligations | 3225 | 3356 | 3260 | 3562 | 3277 | | 7 | net cash provided by ( used in ) operating activities | 814 | 822 | 861 | 755 | 260 | | 8 | free cash flow ( 2 ) | 453 | 537 | 673 | 590 | 121 | | 9 | dividends declared per share | $ 2.52 | $ 2.10 | $ 1.70 | $ 1.00 | $ 0.50 | | 10 | basic earnings ( loss ) per share | $ 10.48 | $ 12.24 | $ 8.43 | $ 6.93 | $ 5.25 | | 11 | diluted earnings ( loss ) per share | $ 10.46 | $ 12.14 | $ 8.36 | $ 6.86 | $ 5.18 |

item 6 . selected financial data the following table sets forth our selected financial data . the table should be read in conjunction with item 7 and item 8 of this annual report on form 10-k. ._| | ( $ in millions except per share amounts ) | year ended december 31 2017 | year ended december 31 2016 | year ended december 31 2015 | year ended december 31 2014 | year ended december 31 2013 | |---:|:------------------------------------------------------|:------------------------------|:------------------------------|:------------------------------|:------------------------------|:------------------------------| | 0 | sales and service revenues | $ 7441 | $ 7068 | $ 7020 | $ 6957 | $ 6820 | | 1 | goodwill impairment | 2014 | 2014 | 75 | 47 | 2014 | | 2 | operating income ( loss ) | 865 | 858 | 769 | 655 | 512 | | 3 | net earnings ( loss ) | 479 | 573 | 404 | 338 | 261 | | 4 | total assets | 6374 | 6352 | 6024 | 6239 | 6190 | | 5 | long-term debt ( 1 ) | 1279 | 1278 | 1273 | 1562 | 1665 | | 6 | total long-term obligations | 3225 | 3356 | 3260 | 3562 | 3277 | | 7 | net cash provided by ( used in ) operating activities | 814 | 822 | 861 | 755 | 260 | | 8 | free cash flow ( 2 ) | 453 | 537 | 673 | 590 | 121 | | 9 | dividends declared per share | $ 2.52 | $ 2.10 | $ 1.70 | $ 1.00 | $ 0.50 | | 10 | basic earnings ( loss ) per share | $ 10.48 | $ 12.24 | $ 8.43 | $ 6.93 | $ 5.25 | | 11 | diluted earnings ( loss ) per share | $ 10.46 | $ 12.14 | $ 8.36 | $ 6.86 | $ 5.18 |_( 1 ) long-term debt does not include the current portion of long-term debt , which is included in current liabilities . ( 2 ) free cash flow is a non-gaap financial measure and represents cash from operating activities less capital expenditures net of related grant proceeds . see liquidity and capital resources in item 7 for more information on this measure. .

2,017

47

HII

Huntington Ingalls Industries

Industrials

Aerospace & Defense

Newport News, Virginia

2018-01-03

1,501,585

2011

null

finqa247

what was the percentage of the anticipated approximate tax refund in 2003 based on the nol $ 90.0 million .

23.7%

divide(90.0, 380.0)

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 was the percentage of the anticipated approximate tax refund in 2003 based on the nol $ 90.0 million .

23.7%

divide(90.0, 380.0)

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

finqa248

as of december 31 2010 percent of the cabinets and related products to the total gross goodwill

13.9%

divide(587, 4216)

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

as of december 31 2010 percent of the cabinets and related products to the total gross goodwill

13.9%

divide(587, 4216)

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

finqa249

what is the roi of an investment in loews common stock from 2010 to 2011?

-2.6%

divide(subtract(97.37, const_100), const_100)

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 roi of an investment in loews common stock from 2010 to 2011?

-2.6%

divide(subtract(97.37, const_100), const_100)

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

finqa250

what was the greatest gross margin percentage in the three year period?

27.9

table_max(gross margin percentage, none)

24 of 93 net sales in japan remained flat during 2002 versus 2001 , with a slight decline in unit sales of 2% ( 2 % ) . consistent with the company 2019s other geographic operating segments , during 2002 japan showed growth in unit sales of consumer systems and a decline in unit sales of power macintosh systems . japan 2019s imac unit sales increased 85% ( 85 % ) in 2002 . however , in the case of japan the increase in imac unit shipments in 2002 versus 2001 was primarily the result of the unusually depressed level of net sales experienced by the company in the first quarter of 2001 as discussed above . additionally , net sales in japan on a sequential and year-over-year comparative basis generally worsened as 2002 progressed reflecting particularly poor economic conditions in japan . retail the company opened 25 new retail stores during 2003 , bringing the total number of open stores to 65 as of september 27 , 2003 , which compares to 40 open stores as of september 28 , 2002 and 8 open stores as of september 29 , 2001 . during the first quarter of fiscal 2004 , the company opened 9 additional stores including its first international store in the ginza in tokyo , japan . the retail segment 2019s net sales grew to $ 621 million during 2003 from $ 283 million in 2002 and from $ 19 million in 2001 . the $ 338 million or 119% ( 119 % ) increase in net sales during 2003 reflects the impact from opening 25 new stores in 2003 , the full year impact of 2002 store openings , as well as an increase in average revenue per store . total macintosh sales increased by approximately $ 170 million of which $ 108 million related to year-over-year increases in powerbook sales . the retail segment has also contributed strongly to the increases in net sales of peripherals , software and services experienced by the company during 2003 . during 2003 , approximately 45% ( 45 % ) of the retail segment 2019s net sales came from the sale of apple-branded and third-party peripherals , software and services as compared to 28% ( 28 % ) for the company as a whole . with an average of 54 stores open during 2003 , the retail segment achieved annualized revenue per store of approximately $ 11.5 million , as compared to approximately $ 10.2 million based on an average of 28 stores open in 2002 . as measured by the company 2019s operating segment reporting , the retail segment improved from a loss of $ 22 million during 2002 to a loss of $ 5 million during 2003 . this improvement is primarily attributable to 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 since its inception totaled approximately $ 290 million through the end of fiscal 2003 , $ 92 million of which was incurred during 2003 . as of september 27 , 2003 , the retail segment had approximately 1300 employees and had outstanding operating lease commitments associated with retail store space and related facilities of $ 354 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 . investment in a new business model such as the retail segment is inherently risky , particularly in light of the significant investment involved , the current economic climate , and the fixed nature of a substantial portion of the retail segment 2019s operating expenses . gross margin gross margin for the three fiscal years ended september 27 , 2003 are as follows ( in millions , except gross margin percentages ) : .

gross margin decreased to 27.5% ( 27.5 % ) of net sales in 2003 from 27.9% ( 27.9 % ) of net sales in 2002 . this decline in gross margin reflects relatively aggressive pricing actions on several macintosh models instituted by the company beginning in late fiscal 2002 as a result of continued pricing pressure throughout the personal computer industry , lower sales of relatively higher margin power macintosh systems during the first three fiscal quarters of 2003 , and increased air freight and manufacturing costs associated with the production ramp-up of the new power mac g5 and 15-inch powerbook , both of which began shipping in volume during september 2003 . this decline is also attributable to a rise in certain component costs as the year progressed . the aforementioned negative factors affecting gross margins during 2003 were partially offset by the increase in higher margin software and direct sales . the company anticipates that its gross margin and the gross margin of the overall personal computer industry will remain under pressure throughout fiscal 2004 in light of weak economic conditions , price competition in the personal computer industry , and potential increases in component pricing . the company also expects to continue to incur air freight charges on the power mac g5 and other products during 2004 . the foregoing statements regarding the company 2019s expected gross margin during 2004 , general demand for personal computers , anticipated industry component pricing , anticipated air freight charges , and future economic conditions are forward-looking . there can be no assurance that current gross margins will be maintained , targeted gross margin levels will be achieved , or current margins on existing individual products will be maintained . in general , gross margins and margins on individual products will remain under .

| | | 2003 | 2002 | 2001 | |---:|:------------------------|:-----------------|:-----------------|:-----------------| | 0 | net sales | $ 6207 | $ 5742 | $ 5363 | | 1 | cost of sales | 4499 | 4139 | 4128 | | 2 | gross margin | $ 1708 | $ 1603 | $ 1235 | | 3 | gross margin percentage | 27.5% ( 27.5 % ) | 27.9% ( 27.9 % ) | 23.0% ( 23.0 % ) |

24 of 93 net sales in japan remained flat during 2002 versus 2001 , with a slight decline in unit sales of 2% ( 2 % ) . consistent with the company 2019s other geographic operating segments , during 2002 japan showed growth in unit sales of consumer systems and a decline in unit sales of power macintosh systems . japan 2019s imac unit sales increased 85% ( 85 % ) in 2002 . however , in the case of japan the increase in imac unit shipments in 2002 versus 2001 was primarily the result of the unusually depressed level of net sales experienced by the company in the first quarter of 2001 as discussed above . additionally , net sales in japan on a sequential and year-over-year comparative basis generally worsened as 2002 progressed reflecting particularly poor economic conditions in japan . retail the company opened 25 new retail stores during 2003 , bringing the total number of open stores to 65 as of september 27 , 2003 , which compares to 40 open stores as of september 28 , 2002 and 8 open stores as of september 29 , 2001 . during the first quarter of fiscal 2004 , the company opened 9 additional stores including its first international store in the ginza in tokyo , japan . the retail segment 2019s net sales grew to $ 621 million during 2003 from $ 283 million in 2002 and from $ 19 million in 2001 . the $ 338 million or 119% ( 119 % ) increase in net sales during 2003 reflects the impact from opening 25 new stores in 2003 , the full year impact of 2002 store openings , as well as an increase in average revenue per store . total macintosh sales increased by approximately $ 170 million of which $ 108 million related to year-over-year increases in powerbook sales . the retail segment has also contributed strongly to the increases in net sales of peripherals , software and services experienced by the company during 2003 . during 2003 , approximately 45% ( 45 % ) of the retail segment 2019s net sales came from the sale of apple-branded and third-party peripherals , software and services as compared to 28% ( 28 % ) for the company as a whole . with an average of 54 stores open during 2003 , the retail segment achieved annualized revenue per store of approximately $ 11.5 million , as compared to approximately $ 10.2 million based on an average of 28 stores open in 2002 . as measured by the company 2019s operating segment reporting , the retail segment improved from a loss of $ 22 million during 2002 to a loss of $ 5 million during 2003 . this improvement is primarily attributable to 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 since its inception totaled approximately $ 290 million through the end of fiscal 2003 , $ 92 million of which was incurred during 2003 . as of september 27 , 2003 , the retail segment had approximately 1300 employees and had outstanding operating lease commitments associated with retail store space and related facilities of $ 354 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 . investment in a new business model such as the retail segment is inherently risky , particularly in light of the significant investment involved , the current economic climate , and the fixed nature of a substantial portion of the retail segment 2019s operating expenses . gross margin gross margin for the three fiscal years ended september 27 , 2003 are as follows ( in millions , except gross margin percentages ) : ._| | | 2003 | 2002 | 2001 | |---:|:------------------------|:-----------------|:-----------------|:-----------------| | 0 | net sales | $ 6207 | $ 5742 | $ 5363 | | 1 | cost of sales | 4499 | 4139 | 4128 | | 2 | gross margin | $ 1708 | $ 1603 | $ 1235 | | 3 | gross margin percentage | 27.5% ( 27.5 % ) | 27.9% ( 27.9 % ) | 23.0% ( 23.0 % ) |_gross margin decreased to 27.5% ( 27.5 % ) of net sales in 2003 from 27.9% ( 27.9 % ) of net sales in 2002 . this decline in gross margin reflects relatively aggressive pricing actions on several macintosh models instituted by the company beginning in late fiscal 2002 as a result of continued pricing pressure throughout the personal computer industry , lower sales of relatively higher margin power macintosh systems during the first three fiscal quarters of 2003 , and increased air freight and manufacturing costs associated with the production ramp-up of the new power mac g5 and 15-inch powerbook , both of which began shipping in volume during september 2003 . this decline is also attributable to a rise in certain component costs as the year progressed . the aforementioned negative factors affecting gross margins during 2003 were partially offset by the increase in higher margin software and direct sales . the company anticipates that its gross margin and the gross margin of the overall personal computer industry will remain under pressure throughout fiscal 2004 in light of weak economic conditions , price competition in the personal computer industry , and potential increases in component pricing . the company also expects to continue to incur air freight charges on the power mac g5 and other products during 2004 . the foregoing statements regarding the company 2019s expected gross margin during 2004 , general demand for personal computers , anticipated industry component pricing , anticipated air freight charges , and future economic conditions are forward-looking . there can be no assurance that current gross margins will be maintained , targeted gross margin levels will be achieved , or current margins on existing individual products will be maintained . in general , gross margins and margins on individual products will remain under .

2,003

24

AAPL

Apple Inc.

Information Technology

Technology Hardware, Storage & Peripherals

Cupertino, California

1982-11-30

320,193

1977

what was the greatest gross margin percentage in the three year period?

27.9

table_max(gross margin percentage, none)

24 of 93 net sales in japan remained flat during 2002 versus 2001 , with a slight decline in unit sales of 2% ( 2 % ) . consistent with the company 2019s other geographic operating segments , during 2002 japan showed growth in unit sales of consumer systems and a decline in unit sales of power macintosh systems . japan 2019s imac unit sales increased 85% ( 85 % ) in 2002 . however , in the case of japan the increase in imac unit shipments in 2002 versus 2001 was primarily the result of the unusually depressed level of net sales experienced by the company in the first quarter of 2001 as discussed above . additionally , net sales in japan on a sequential and year-over-year comparative basis generally worsened as 2002 progressed reflecting particularly poor economic conditions in japan . retail the company opened 25 new retail stores during 2003 , bringing the total number of open stores to 65 as of september 27 , 2003 , which compares to 40 open stores as of september 28 , 2002 and 8 open stores as of september 29 , 2001 . during the first quarter of fiscal 2004 , the company opened 9 additional stores including its first international store in the ginza in tokyo , japan . the retail segment 2019s net sales grew to $ 621 million during 2003 from $ 283 million in 2002 and from $ 19 million in 2001 . the $ 338 million or 119% ( 119 % ) increase in net sales during 2003 reflects the impact from opening 25 new stores in 2003 , the full year impact of 2002 store openings , as well as an increase in average revenue per store . total macintosh sales increased by approximately $ 170 million of which $ 108 million related to year-over-year increases in powerbook sales . the retail segment has also contributed strongly to the increases in net sales of peripherals , software and services experienced by the company during 2003 . during 2003 , approximately 45% ( 45 % ) of the retail segment 2019s net sales came from the sale of apple-branded and third-party peripherals , software and services as compared to 28% ( 28 % ) for the company as a whole . with an average of 54 stores open during 2003 , the retail segment achieved annualized revenue per store of approximately $ 11.5 million , as compared to approximately $ 10.2 million based on an average of 28 stores open in 2002 . as measured by the company 2019s operating segment reporting , the retail segment improved from a loss of $ 22 million during 2002 to a loss of $ 5 million during 2003 . this improvement is primarily attributable to 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 since its inception totaled approximately $ 290 million through the end of fiscal 2003 , $ 92 million of which was incurred during 2003 . as of september 27 , 2003 , the retail segment had approximately 1300 employees and had outstanding operating lease commitments associated with retail store space and related facilities of $ 354 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 . investment in a new business model such as the retail segment is inherently risky , particularly in light of the significant investment involved , the current economic climate , and the fixed nature of a substantial portion of the retail segment 2019s operating expenses . gross margin gross margin for the three fiscal years ended september 27 , 2003 are as follows ( in millions , except gross margin percentages ) : .

gross margin decreased to 27.5% ( 27.5 % ) of net sales in 2003 from 27.9% ( 27.9 % ) of net sales in 2002 . this decline in gross margin reflects relatively aggressive pricing actions on several macintosh models instituted by the company beginning in late fiscal 2002 as a result of continued pricing pressure throughout the personal computer industry , lower sales of relatively higher margin power macintosh systems during the first three fiscal quarters of 2003 , and increased air freight and manufacturing costs associated with the production ramp-up of the new power mac g5 and 15-inch powerbook , both of which began shipping in volume during september 2003 . this decline is also attributable to a rise in certain component costs as the year progressed . the aforementioned negative factors affecting gross margins during 2003 were partially offset by the increase in higher margin software and direct sales . the company anticipates that its gross margin and the gross margin of the overall personal computer industry will remain under pressure throughout fiscal 2004 in light of weak economic conditions , price competition in the personal computer industry , and potential increases in component pricing . the company also expects to continue to incur air freight charges on the power mac g5 and other products during 2004 . the foregoing statements regarding the company 2019s expected gross margin during 2004 , general demand for personal computers , anticipated industry component pricing , anticipated air freight charges , and future economic conditions are forward-looking . there can be no assurance that current gross margins will be maintained , targeted gross margin levels will be achieved , or current margins on existing individual products will be maintained . in general , gross margins and margins on individual products will remain under .

| | | 2003 | 2002 | 2001 | |---:|:------------------------|:-----------------|:-----------------|:-----------------| | 0 | net sales | $ 6207 | $ 5742 | $ 5363 | | 1 | cost of sales | 4499 | 4139 | 4128 | | 2 | gross margin | $ 1708 | $ 1603 | $ 1235 | | 3 | gross margin percentage | 27.5% ( 27.5 % ) | 27.9% ( 27.9 % ) | 23.0% ( 23.0 % ) |

24 of 93 net sales in japan remained flat during 2002 versus 2001 , with a slight decline in unit sales of 2% ( 2 % ) . consistent with the company 2019s other geographic operating segments , during 2002 japan showed growth in unit sales of consumer systems and a decline in unit sales of power macintosh systems . japan 2019s imac unit sales increased 85% ( 85 % ) in 2002 . however , in the case of japan the increase in imac unit shipments in 2002 versus 2001 was primarily the result of the unusually depressed level of net sales experienced by the company in the first quarter of 2001 as discussed above . additionally , net sales in japan on a sequential and year-over-year comparative basis generally worsened as 2002 progressed reflecting particularly poor economic conditions in japan . retail the company opened 25 new retail stores during 2003 , bringing the total number of open stores to 65 as of september 27 , 2003 , which compares to 40 open stores as of september 28 , 2002 and 8 open stores as of september 29 , 2001 . during the first quarter of fiscal 2004 , the company opened 9 additional stores including its first international store in the ginza in tokyo , japan . the retail segment 2019s net sales grew to $ 621 million during 2003 from $ 283 million in 2002 and from $ 19 million in 2001 . the $ 338 million or 119% ( 119 % ) increase in net sales during 2003 reflects the impact from opening 25 new stores in 2003 , the full year impact of 2002 store openings , as well as an increase in average revenue per store . total macintosh sales increased by approximately $ 170 million of which $ 108 million related to year-over-year increases in powerbook sales . the retail segment has also contributed strongly to the increases in net sales of peripherals , software and services experienced by the company during 2003 . during 2003 , approximately 45% ( 45 % ) of the retail segment 2019s net sales came from the sale of apple-branded and third-party peripherals , software and services as compared to 28% ( 28 % ) for the company as a whole . with an average of 54 stores open during 2003 , the retail segment achieved annualized revenue per store of approximately $ 11.5 million , as compared to approximately $ 10.2 million based on an average of 28 stores open in 2002 . as measured by the company 2019s operating segment reporting , the retail segment improved from a loss of $ 22 million during 2002 to a loss of $ 5 million during 2003 . this improvement is primarily attributable to 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 since its inception totaled approximately $ 290 million through the end of fiscal 2003 , $ 92 million of which was incurred during 2003 . as of september 27 , 2003 , the retail segment had approximately 1300 employees and had outstanding operating lease commitments associated with retail store space and related facilities of $ 354 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 . investment in a new business model such as the retail segment is inherently risky , particularly in light of the significant investment involved , the current economic climate , and the fixed nature of a substantial portion of the retail segment 2019s operating expenses . gross margin gross margin for the three fiscal years ended september 27 , 2003 are as follows ( in millions , except gross margin percentages ) : ._| | | 2003 | 2002 | 2001 | |---:|:------------------------|:-----------------|:-----------------|:-----------------| | 0 | net sales | $ 6207 | $ 5742 | $ 5363 | | 1 | cost of sales | 4499 | 4139 | 4128 | | 2 | gross margin | $ 1708 | $ 1603 | $ 1235 | | 3 | gross margin percentage | 27.5% ( 27.5 % ) | 27.9% ( 27.9 % ) | 23.0% ( 23.0 % ) |_gross margin decreased to 27.5% ( 27.5 % ) of net sales in 2003 from 27.9% ( 27.9 % ) of net sales in 2002 . this decline in gross margin reflects relatively aggressive pricing actions on several macintosh models instituted by the company beginning in late fiscal 2002 as a result of continued pricing pressure throughout the personal computer industry , lower sales of relatively higher margin power macintosh systems during the first three fiscal quarters of 2003 , and increased air freight and manufacturing costs associated with the production ramp-up of the new power mac g5 and 15-inch powerbook , both of which began shipping in volume during september 2003 . this decline is also attributable to a rise in certain component costs as the year progressed . the aforementioned negative factors affecting gross margins during 2003 were partially offset by the increase in higher margin software and direct sales . the company anticipates that its gross margin and the gross margin of the overall personal computer industry will remain under pressure throughout fiscal 2004 in light of weak economic conditions , price competition in the personal computer industry , and potential increases in component pricing . the company also expects to continue to incur air freight charges on the power mac g5 and other products during 2004 . the foregoing statements regarding the company 2019s expected gross margin during 2004 , general demand for personal computers , anticipated industry component pricing , anticipated air freight charges , and future economic conditions are forward-looking . there can be no assurance that current gross margins will be maintained , targeted gross margin levels will be achieved , or current margins on existing individual products will be maintained . in general , gross margins and margins on individual products will remain under .

2,003

24

AAPL

Apple Inc.

Information Technology

Technology Hardware, Storage & Peripherals

Cupertino, California

1982-11-30

320,193

1977

null

finqa251

what is the total value of fixed maturities and cash as of december 31 , 2015 , in billions?

15.5

multiply(17.7, 87.4%)

the company had net realized capital losses for 2015 of $ 184.1 million . in 2015 , the company recorded $ 102.2 million of other-than-temporary impairments on fixed maturity securities , $ 45.6 million of losses due to fair value re-measurements and $ 36.3 million of net realized capital losses from sales of fixed maturity and equity securities . in 2014 , net realized capital gains were $ 84.0 million due to $ 121.7 million of gains from fair value re-measurements on fixed maturity and equity securities and $ 1.9 million of net realized capital gains from sales of fixed maturity and equity securities , partially offset by $ 39.5 million of other-than- temporary impairments on fixed maturity securities . in 2013 , net realized capital gains were $ 300.2 million due to $ 258.9 million of gains due to fair value re-measurements on fixed maturity and equity securities and $ 42.4 million of net realized capital gains from sales of fixed maturity and equity securities , partially offset by $ 1.1 million of other-than-temporary impairments on fixed maturity securities . the company 2019s cash and invested assets totaled $ 17.7 billion at december 31 , 2015 , which consisted of 87.4% ( 87.4 % ) fixed maturities and cash , of which 91.4% ( 91.4 % ) were investment grade ; 8.2% ( 8.2 % ) equity securities and 4.4% ( 4.4 % ) other invested assets . the average maturity of fixed maturity securities was 4.1 years at december 31 , 2015 , and their overall duration was 3.0 years . as of december 31 , 2015 , the company did not have any direct investments in commercial real estate or direct commercial mortgages or any material holdings of derivative investments ( other than equity index put option contracts as discussed in item 8 , 201cfinancial statements and supplementary data 201d - note 4 of notes to consolidated financial statements ) or securities of issuers that are experiencing cash flow difficulty to an extent that the company 2019s management believes could threaten the issuer 2019s ability to meet debt service payments , except where other-than-temporary impairments have been recognized . the company 2019s investment portfolio includes structured commercial mortgage-backed securities ( 201ccmbs 201d ) with a book value of $ 264.9 million and a market value of $ 266.3 million . cmbs securities comprising more than 70% ( 70 % ) of the december 31 , 2015 market value are rated aaa by standard & poor 2019s financial services llc ( 201cstandard & poor 2019s 201d ) . furthermore , securities comprising more than 90% ( 90 % ) of the market value are rated investment grade by standard & poor 2019s . the following table reflects investment results for the company for the periods indicated: .

pre-tax pre-tax pre-tax pre-tax realized net unrealized net average investment effective capital ( losses ) capital gains ( dollars in millions ) investments ( 1 ) income ( 2 ) yield gains ( 3 ) ( losses ) 17430.8$ 473.8$ 2.72% ( 2.72 % ) ( 184.1 ) $ ( 194.0 ) $ 16831.9 530.6 3.15% ( 3.15 % ) 84.0 20.3 16472.5 548.5 3.33% ( 3.33 % ) 300.2 ( 467.2 ) 16220.9 600.2 3.70% ( 3.70 % ) 164.4 161.0 15680.9 620.0 3.95% ( 3.95 % ) 6.9 106.6 ( 1 ) average of the beginning and ending carrying values of investments and cash , less net funds held , future policy benefit reserve , and non-interest bearing cash . bonds , common stock and redeemable and non-redeemable preferred stocks are carried at market value . common stock which are actively managed are carried at fair value . ( 2 ) after investment expenses , excluding realized net capital gains ( losses ) . ( 3 ) included in 2015 , 2014 , 2013 , 2012 and 2011 are fair value re-measurements of ( $ 45.6 ) million , $ 121.7 million , $ 258.9 million , $ 118.1 million and ( $ 4.4 ) million , respectively. .

| | ( dollars in millions ) | december 31 , average investments ( 1 ) | december 31 , pre-tax investment income ( 2 ) | december 31 , pre-tax effective yield | december 31 , pre-tax realized net capital ( losses ) gains ( 3 ) | december 31 , pre-tax unrealized net capital gains ( losses ) | |---:|--------------------------:|:------------------------------------------|:------------------------------------------------|:----------------------------------------|:--------------------------------------------------------------------|:----------------------------------------------------------------| | 0 | 2015 | $ 17430.8 | $ 473.8 | 2.72% ( 2.72 % ) | $ -184.1 ( 184.1 ) | $ -194.0 ( 194.0 ) | | 1 | 2014 | 16831.9 | 530.6 | 3.15% ( 3.15 % ) | 84.0 | 20.3 | | 2 | 2013 | 16472.5 | 548.5 | 3.33% ( 3.33 % ) | 300.2 | -467.2 ( 467.2 ) | | 3 | 2012 | 16220.9 | 600.2 | 3.70% ( 3.70 % ) | 164.4 | 161.0 | | 4 | 2011 | 15680.9 | 620.0 | 3.95% ( 3.95 % ) | 6.9 | 106.6 |

the company had net realized capital losses for 2015 of $ 184.1 million . in 2015 , the company recorded $ 102.2 million of other-than-temporary impairments on fixed maturity securities , $ 45.6 million of losses due to fair value re-measurements and $ 36.3 million of net realized capital losses from sales of fixed maturity and equity securities . in 2014 , net realized capital gains were $ 84.0 million due to $ 121.7 million of gains from fair value re-measurements on fixed maturity and equity securities and $ 1.9 million of net realized capital gains from sales of fixed maturity and equity securities , partially offset by $ 39.5 million of other-than- temporary impairments on fixed maturity securities . in 2013 , net realized capital gains were $ 300.2 million due to $ 258.9 million of gains due to fair value re-measurements on fixed maturity and equity securities and $ 42.4 million of net realized capital gains from sales of fixed maturity and equity securities , partially offset by $ 1.1 million of other-than-temporary impairments on fixed maturity securities . the company 2019s cash and invested assets totaled $ 17.7 billion at december 31 , 2015 , which consisted of 87.4% ( 87.4 % ) fixed maturities and cash , of which 91.4% ( 91.4 % ) were investment grade ; 8.2% ( 8.2 % ) equity securities and 4.4% ( 4.4 % ) other invested assets . the average maturity of fixed maturity securities was 4.1 years at december 31 , 2015 , and their overall duration was 3.0 years . as of december 31 , 2015 , the company did not have any direct investments in commercial real estate or direct commercial mortgages or any material holdings of derivative investments ( other than equity index put option contracts as discussed in item 8 , 201cfinancial statements and supplementary data 201d - note 4 of notes to consolidated financial statements ) or securities of issuers that are experiencing cash flow difficulty to an extent that the company 2019s management believes could threaten the issuer 2019s ability to meet debt service payments , except where other-than-temporary impairments have been recognized . the company 2019s investment portfolio includes structured commercial mortgage-backed securities ( 201ccmbs 201d ) with a book value of $ 264.9 million and a market value of $ 266.3 million . cmbs securities comprising more than 70% ( 70 % ) of the december 31 , 2015 market value are rated aaa by standard & poor 2019s financial services llc ( 201cstandard & poor 2019s 201d ) . furthermore , securities comprising more than 90% ( 90 % ) of the market value are rated investment grade by standard & poor 2019s . the following table reflects investment results for the company for the periods indicated: ._| | ( dollars in millions ) | december 31 , average investments ( 1 ) | december 31 , pre-tax investment income ( 2 ) | december 31 , pre-tax effective yield | december 31 , pre-tax realized net capital ( losses ) gains ( 3 ) | december 31 , pre-tax unrealized net capital gains ( losses ) | |---:|--------------------------:|:------------------------------------------|:------------------------------------------------|:----------------------------------------|:--------------------------------------------------------------------|:----------------------------------------------------------------| | 0 | 2015 | $ 17430.8 | $ 473.8 | 2.72% ( 2.72 % ) | $ -184.1 ( 184.1 ) | $ -194.0 ( 194.0 ) | | 1 | 2014 | 16831.9 | 530.6 | 3.15% ( 3.15 % ) | 84.0 | 20.3 | | 2 | 2013 | 16472.5 | 548.5 | 3.33% ( 3.33 % ) | 300.2 | -467.2 ( 467.2 ) | | 3 | 2012 | 16220.9 | 600.2 | 3.70% ( 3.70 % ) | 164.4 | 161.0 | | 4 | 2011 | 15680.9 | 620.0 | 3.95% ( 3.95 % ) | 6.9 | 106.6 |_pre-tax pre-tax pre-tax pre-tax realized net unrealized net average investment effective capital ( losses ) capital gains ( dollars in millions ) investments ( 1 ) income ( 2 ) yield gains ( 3 ) ( losses ) 17430.8$ 473.8$ 2.72% ( 2.72 % ) ( 184.1 ) $ ( 194.0 ) $ 16831.9 530.6 3.15% ( 3.15 % ) 84.0 20.3 16472.5 548.5 3.33% ( 3.33 % ) 300.2 ( 467.2 ) 16220.9 600.2 3.70% ( 3.70 % ) 164.4 161.0 15680.9 620.0 3.95% ( 3.95 % ) 6.9 106.6 ( 1 ) average of the beginning and ending carrying values of investments and cash , less net funds held , future policy benefit reserve , and non-interest bearing cash . bonds , common stock and redeemable and non-redeemable preferred stocks are carried at market value . common stock which are actively managed are carried at fair value . ( 2 ) after investment expenses , excluding realized net capital gains ( losses ) . ( 3 ) included in 2015 , 2014 , 2013 , 2012 and 2011 are fair value re-measurements of ( $ 45.6 ) million , $ 121.7 million , $ 258.9 million , $ 118.1 million and ( $ 4.4 ) million , respectively. .

2,015

33

RE

Everest Re Group, Ltd.

Financials

Reinsurance

Hamilton, Bermuda

2010-01-01

1,095,073

1973

what is the total value of fixed maturities and cash as of december 31 , 2015 , in billions?

15.5

multiply(17.7, 87.4%)

the company had net realized capital losses for 2015 of $ 184.1 million . in 2015 , the company recorded $ 102.2 million of other-than-temporary impairments on fixed maturity securities , $ 45.6 million of losses due to fair value re-measurements and $ 36.3 million of net realized capital losses from sales of fixed maturity and equity securities . in 2014 , net realized capital gains were $ 84.0 million due to $ 121.7 million of gains from fair value re-measurements on fixed maturity and equity securities and $ 1.9 million of net realized capital gains from sales of fixed maturity and equity securities , partially offset by $ 39.5 million of other-than- temporary impairments on fixed maturity securities . in 2013 , net realized capital gains were $ 300.2 million due to $ 258.9 million of gains due to fair value re-measurements on fixed maturity and equity securities and $ 42.4 million of net realized capital gains from sales of fixed maturity and equity securities , partially offset by $ 1.1 million of other-than-temporary impairments on fixed maturity securities . the company 2019s cash and invested assets totaled $ 17.7 billion at december 31 , 2015 , which consisted of 87.4% ( 87.4 % ) fixed maturities and cash , of which 91.4% ( 91.4 % ) were investment grade ; 8.2% ( 8.2 % ) equity securities and 4.4% ( 4.4 % ) other invested assets . the average maturity of fixed maturity securities was 4.1 years at december 31 , 2015 , and their overall duration was 3.0 years . as of december 31 , 2015 , the company did not have any direct investments in commercial real estate or direct commercial mortgages or any material holdings of derivative investments ( other than equity index put option contracts as discussed in item 8 , 201cfinancial statements and supplementary data 201d - note 4 of notes to consolidated financial statements ) or securities of issuers that are experiencing cash flow difficulty to an extent that the company 2019s management believes could threaten the issuer 2019s ability to meet debt service payments , except where other-than-temporary impairments have been recognized . the company 2019s investment portfolio includes structured commercial mortgage-backed securities ( 201ccmbs 201d ) with a book value of $ 264.9 million and a market value of $ 266.3 million . cmbs securities comprising more than 70% ( 70 % ) of the december 31 , 2015 market value are rated aaa by standard & poor 2019s financial services llc ( 201cstandard & poor 2019s 201d ) . furthermore , securities comprising more than 90% ( 90 % ) of the market value are rated investment grade by standard & poor 2019s . the following table reflects investment results for the company for the periods indicated: .

pre-tax pre-tax pre-tax pre-tax realized net unrealized net average investment effective capital ( losses ) capital gains ( dollars in millions ) investments ( 1 ) income ( 2 ) yield gains ( 3 ) ( losses ) 17430.8$ 473.8$ 2.72% ( 2.72 % ) ( 184.1 ) $ ( 194.0 ) $ 16831.9 530.6 3.15% ( 3.15 % ) 84.0 20.3 16472.5 548.5 3.33% ( 3.33 % ) 300.2 ( 467.2 ) 16220.9 600.2 3.70% ( 3.70 % ) 164.4 161.0 15680.9 620.0 3.95% ( 3.95 % ) 6.9 106.6 ( 1 ) average of the beginning and ending carrying values of investments and cash , less net funds held , future policy benefit reserve , and non-interest bearing cash . bonds , common stock and redeemable and non-redeemable preferred stocks are carried at market value . common stock which are actively managed are carried at fair value . ( 2 ) after investment expenses , excluding realized net capital gains ( losses ) . ( 3 ) included in 2015 , 2014 , 2013 , 2012 and 2011 are fair value re-measurements of ( $ 45.6 ) million , $ 121.7 million , $ 258.9 million , $ 118.1 million and ( $ 4.4 ) million , respectively. .

| | ( dollars in millions ) | december 31 , average investments ( 1 ) | december 31 , pre-tax investment income ( 2 ) | december 31 , pre-tax effective yield | december 31 , pre-tax realized net capital ( losses ) gains ( 3 ) | december 31 , pre-tax unrealized net capital gains ( losses ) | |---:|--------------------------:|:------------------------------------------|:------------------------------------------------|:----------------------------------------|:--------------------------------------------------------------------|:----------------------------------------------------------------| | 0 | 2015 | $ 17430.8 | $ 473.8 | 2.72% ( 2.72 % ) | $ -184.1 ( 184.1 ) | $ -194.0 ( 194.0 ) | | 1 | 2014 | 16831.9 | 530.6 | 3.15% ( 3.15 % ) | 84.0 | 20.3 | | 2 | 2013 | 16472.5 | 548.5 | 3.33% ( 3.33 % ) | 300.2 | -467.2 ( 467.2 ) | | 3 | 2012 | 16220.9 | 600.2 | 3.70% ( 3.70 % ) | 164.4 | 161.0 | | 4 | 2011 | 15680.9 | 620.0 | 3.95% ( 3.95 % ) | 6.9 | 106.6 |

the company had net realized capital losses for 2015 of $ 184.1 million . in 2015 , the company recorded $ 102.2 million of other-than-temporary impairments on fixed maturity securities , $ 45.6 million of losses due to fair value re-measurements and $ 36.3 million of net realized capital losses from sales of fixed maturity and equity securities . in 2014 , net realized capital gains were $ 84.0 million due to $ 121.7 million of gains from fair value re-measurements on fixed maturity and equity securities and $ 1.9 million of net realized capital gains from sales of fixed maturity and equity securities , partially offset by $ 39.5 million of other-than- temporary impairments on fixed maturity securities . in 2013 , net realized capital gains were $ 300.2 million due to $ 258.9 million of gains due to fair value re-measurements on fixed maturity and equity securities and $ 42.4 million of net realized capital gains from sales of fixed maturity and equity securities , partially offset by $ 1.1 million of other-than-temporary impairments on fixed maturity securities . the company 2019s cash and invested assets totaled $ 17.7 billion at december 31 , 2015 , which consisted of 87.4% ( 87.4 % ) fixed maturities and cash , of which 91.4% ( 91.4 % ) were investment grade ; 8.2% ( 8.2 % ) equity securities and 4.4% ( 4.4 % ) other invested assets . the average maturity of fixed maturity securities was 4.1 years at december 31 , 2015 , and their overall duration was 3.0 years . as of december 31 , 2015 , the company did not have any direct investments in commercial real estate or direct commercial mortgages or any material holdings of derivative investments ( other than equity index put option contracts as discussed in item 8 , 201cfinancial statements and supplementary data 201d - note 4 of notes to consolidated financial statements ) or securities of issuers that are experiencing cash flow difficulty to an extent that the company 2019s management believes could threaten the issuer 2019s ability to meet debt service payments , except where other-than-temporary impairments have been recognized . the company 2019s investment portfolio includes structured commercial mortgage-backed securities ( 201ccmbs 201d ) with a book value of $ 264.9 million and a market value of $ 266.3 million . cmbs securities comprising more than 70% ( 70 % ) of the december 31 , 2015 market value are rated aaa by standard & poor 2019s financial services llc ( 201cstandard & poor 2019s 201d ) . furthermore , securities comprising more than 90% ( 90 % ) of the market value are rated investment grade by standard & poor 2019s . the following table reflects investment results for the company for the periods indicated: ._| | ( dollars in millions ) | december 31 , average investments ( 1 ) | december 31 , pre-tax investment income ( 2 ) | december 31 , pre-tax effective yield | december 31 , pre-tax realized net capital ( losses ) gains ( 3 ) | december 31 , pre-tax unrealized net capital gains ( losses ) | |---:|--------------------------:|:------------------------------------------|:------------------------------------------------|:----------------------------------------|:--------------------------------------------------------------------|:----------------------------------------------------------------| | 0 | 2015 | $ 17430.8 | $ 473.8 | 2.72% ( 2.72 % ) | $ -184.1 ( 184.1 ) | $ -194.0 ( 194.0 ) | | 1 | 2014 | 16831.9 | 530.6 | 3.15% ( 3.15 % ) | 84.0 | 20.3 | | 2 | 2013 | 16472.5 | 548.5 | 3.33% ( 3.33 % ) | 300.2 | -467.2 ( 467.2 ) | | 3 | 2012 | 16220.9 | 600.2 | 3.70% ( 3.70 % ) | 164.4 | 161.0 | | 4 | 2011 | 15680.9 | 620.0 | 3.95% ( 3.95 % ) | 6.9 | 106.6 |_pre-tax pre-tax pre-tax pre-tax realized net unrealized net average investment effective capital ( losses ) capital gains ( dollars in millions ) investments ( 1 ) income ( 2 ) yield gains ( 3 ) ( losses ) 17430.8$ 473.8$ 2.72% ( 2.72 % ) ( 184.1 ) $ ( 194.0 ) $ 16831.9 530.6 3.15% ( 3.15 % ) 84.0 20.3 16472.5 548.5 3.33% ( 3.33 % ) 300.2 ( 467.2 ) 16220.9 600.2 3.70% ( 3.70 % ) 164.4 161.0 15680.9 620.0 3.95% ( 3.95 % ) 6.9 106.6 ( 1 ) average of the beginning and ending carrying values of investments and cash , less net funds held , future policy benefit reserve , and non-interest bearing cash . bonds , common stock and redeemable and non-redeemable preferred stocks are carried at market value . common stock which are actively managed are carried at fair value . ( 2 ) after investment expenses , excluding realized net capital gains ( losses ) . ( 3 ) included in 2015 , 2014 , 2013 , 2012 and 2011 are fair value re-measurements of ( $ 45.6 ) million , $ 121.7 million , $ 258.9 million , $ 118.1 million and ( $ 4.4 ) million , respectively. .

2,015

33

RE

Everest Re Group, Ltd.

Financials

Reinsurance

Hamilton, Bermuda

2010-01-01

1,095,073

1973

null

finqa252

what percent of assets acquired by the acquisition are non-tangible assets?

96%

divide(add(add(13536, 4091), 1031), 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 percent of assets acquired by the acquisition are non-tangible assets?

96%

divide(add(add(13536, 4091), 1031), 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

finqa253

what percentage of total inventories is comprised of finished goods in 2007?

62%

divide(1001.3, 1625.1)

notes to consolidated financial statements 2014 ( continued ) fiscal years ended may 25 , 2008 , may 27 , 2007 , and may 28 , 2006 columnar amounts in millions except per share amounts administrative expenses , including the reclassification of the cumulative after-tax charges of $ 21.9 million from accumulated other comprehensive income . during fiscal 2007 , the company closed on the sale of these notes for approximately $ 117 million , net of transaction expenses , resulting in no additional gain or loss . 8 . inventories the major classes of inventories are as follows: .

9 . credit facilities and borrowings at may 25 , 2008 , the company had credit lines from banks that totaled approximately $ 2.3 billion . these lines are comprised of a $ 1.5 billion multi-year revolving credit facility with a syndicate of financial institutions which matures in december 2011 , uncommitted short-term loan facilities approximating $ 364 million , and uncommitted trade finance facilities approximating $ 424 million . borrowings under the multi-year facility bear interest at or below prime rate and may be prepaid without penalty . the company has not drawn upon this multi- year facility . the uncommitted trade finance facilities mentioned above were maintained in order to finance certain working capital needs of the company 2019s trading and merchandising operations . subsequent to the sale of this business in june 2008 , the company exited these facilities . the company finances its short-term liquidity needs with bank borrowings , commercial paper borrowings , and bankers 2019 acceptances . as of may 25 , 2008 , the company had outstanding borrowings of $ 578.3 million , primarily under the commercial paper arrangements . the weighted average interest rate on these borrowings as of may 25 , 2008 was 2.76% ( 2.76 % ) . the average consolidated short-term borrowings outstanding under these facilities were $ 418.5 million and $ 4.3 million for fiscal 2008 and 2007 , respectively. .

| | | 2008 | 2007 | |---:|:----------------------------|:---------|:---------| | 0 | raw materials and packaging | $ 580.8 | $ 458.5 | | 1 | work in progress | 100.0 | 94.6 | | 2 | finished goods | 1179.1 | 1001.3 | | 3 | supplies and other | 71.6 | 70.7 | | 4 | total | $ 1931.5 | $ 1625.1 |

notes to consolidated financial statements 2014 ( continued ) fiscal years ended may 25 , 2008 , may 27 , 2007 , and may 28 , 2006 columnar amounts in millions except per share amounts administrative expenses , including the reclassification of the cumulative after-tax charges of $ 21.9 million from accumulated other comprehensive income . during fiscal 2007 , the company closed on the sale of these notes for approximately $ 117 million , net of transaction expenses , resulting in no additional gain or loss . 8 . inventories the major classes of inventories are as follows: ._| | | 2008 | 2007 | |---:|:----------------------------|:---------|:---------| | 0 | raw materials and packaging | $ 580.8 | $ 458.5 | | 1 | work in progress | 100.0 | 94.6 | | 2 | finished goods | 1179.1 | 1001.3 | | 3 | supplies and other | 71.6 | 70.7 | | 4 | total | $ 1931.5 | $ 1625.1 |_9 . credit facilities and borrowings at may 25 , 2008 , the company had credit lines from banks that totaled approximately $ 2.3 billion . these lines are comprised of a $ 1.5 billion multi-year revolving credit facility with a syndicate of financial institutions which matures in december 2011 , uncommitted short-term loan facilities approximating $ 364 million , and uncommitted trade finance facilities approximating $ 424 million . borrowings under the multi-year facility bear interest at or below prime rate and may be prepaid without penalty . the company has not drawn upon this multi- year facility . the uncommitted trade finance facilities mentioned above were maintained in order to finance certain working capital needs of the company 2019s trading and merchandising operations . subsequent to the sale of this business in june 2008 , the company exited these facilities . the company finances its short-term liquidity needs with bank borrowings , commercial paper borrowings , and bankers 2019 acceptances . as of may 25 , 2008 , the company had outstanding borrowings of $ 578.3 million , primarily under the commercial paper arrangements . the weighted average interest rate on these borrowings as of may 25 , 2008 was 2.76% ( 2.76 % ) . the average consolidated short-term borrowings outstanding under these facilities were $ 418.5 million and $ 4.3 million for fiscal 2008 and 2007 , respectively. .

2,008

75

CAG

Conagra Brands

Consumer Staples

Packaged Foods & Meats

Chicago, Illinois

1983-08-31

23,217

1919

what percentage of total inventories is comprised of finished goods in 2007?

62%

divide(1001.3, 1625.1)

notes to consolidated financial statements 2014 ( continued ) fiscal years ended may 25 , 2008 , may 27 , 2007 , and may 28 , 2006 columnar amounts in millions except per share amounts administrative expenses , including the reclassification of the cumulative after-tax charges of $ 21.9 million from accumulated other comprehensive income . during fiscal 2007 , the company closed on the sale of these notes for approximately $ 117 million , net of transaction expenses , resulting in no additional gain or loss . 8 . inventories the major classes of inventories are as follows: .

9 . credit facilities and borrowings at may 25 , 2008 , the company had credit lines from banks that totaled approximately $ 2.3 billion . these lines are comprised of a $ 1.5 billion multi-year revolving credit facility with a syndicate of financial institutions which matures in december 2011 , uncommitted short-term loan facilities approximating $ 364 million , and uncommitted trade finance facilities approximating $ 424 million . borrowings under the multi-year facility bear interest at or below prime rate and may be prepaid without penalty . the company has not drawn upon this multi- year facility . the uncommitted trade finance facilities mentioned above were maintained in order to finance certain working capital needs of the company 2019s trading and merchandising operations . subsequent to the sale of this business in june 2008 , the company exited these facilities . the company finances its short-term liquidity needs with bank borrowings , commercial paper borrowings , and bankers 2019 acceptances . as of may 25 , 2008 , the company had outstanding borrowings of $ 578.3 million , primarily under the commercial paper arrangements . the weighted average interest rate on these borrowings as of may 25 , 2008 was 2.76% ( 2.76 % ) . the average consolidated short-term borrowings outstanding under these facilities were $ 418.5 million and $ 4.3 million for fiscal 2008 and 2007 , respectively. .

| | | 2008 | 2007 | |---:|:----------------------------|:---------|:---------| | 0 | raw materials and packaging | $ 580.8 | $ 458.5 | | 1 | work in progress | 100.0 | 94.6 | | 2 | finished goods | 1179.1 | 1001.3 | | 3 | supplies and other | 71.6 | 70.7 | | 4 | total | $ 1931.5 | $ 1625.1 |

notes to consolidated financial statements 2014 ( continued ) fiscal years ended may 25 , 2008 , may 27 , 2007 , and may 28 , 2006 columnar amounts in millions except per share amounts administrative expenses , including the reclassification of the cumulative after-tax charges of $ 21.9 million from accumulated other comprehensive income . during fiscal 2007 , the company closed on the sale of these notes for approximately $ 117 million , net of transaction expenses , resulting in no additional gain or loss . 8 . inventories the major classes of inventories are as follows: ._| | | 2008 | 2007 | |---:|:----------------------------|:---------|:---------| | 0 | raw materials and packaging | $ 580.8 | $ 458.5 | | 1 | work in progress | 100.0 | 94.6 | | 2 | finished goods | 1179.1 | 1001.3 | | 3 | supplies and other | 71.6 | 70.7 | | 4 | total | $ 1931.5 | $ 1625.1 |_9 . credit facilities and borrowings at may 25 , 2008 , the company had credit lines from banks that totaled approximately $ 2.3 billion . these lines are comprised of a $ 1.5 billion multi-year revolving credit facility with a syndicate of financial institutions which matures in december 2011 , uncommitted short-term loan facilities approximating $ 364 million , and uncommitted trade finance facilities approximating $ 424 million . borrowings under the multi-year facility bear interest at or below prime rate and may be prepaid without penalty . the company has not drawn upon this multi- year facility . the uncommitted trade finance facilities mentioned above were maintained in order to finance certain working capital needs of the company 2019s trading and merchandising operations . subsequent to the sale of this business in june 2008 , the company exited these facilities . the company finances its short-term liquidity needs with bank borrowings , commercial paper borrowings , and bankers 2019 acceptances . as of may 25 , 2008 , the company had outstanding borrowings of $ 578.3 million , primarily under the commercial paper arrangements . the weighted average interest rate on these borrowings as of may 25 , 2008 was 2.76% ( 2.76 % ) . the average consolidated short-term borrowings outstanding under these facilities were $ 418.5 million and $ 4.3 million for fiscal 2008 and 2007 , respectively. .

2,008

75

CAG

Conagra Brands

Consumer Staples

Packaged Foods & Meats

Chicago, Illinois

1983-08-31

23,217

1919

null

finqa254

what was the percentage change in the company recognized tax-related interest and penalties in 2011 .

15.8%

divide(3, add(16, 3))

december 31 , 2011 , the company recognized a decrease of $ 3 million of tax-related interest and penalties and had approximately $ 16 million accrued at december 31 , 2011 . note 12 derivative instruments and fair value measurements the company is exposed to certain market risks such as changes in interest rates , foreign currency exchange rates , and commodity prices , which exist as a part of its ongoing business operations . management uses derivative financial and commodity instruments , including futures , options , and swaps , where appropriate , to manage these risks . instruments used as hedges must be effective at reducing the risk associated with the exposure being hedged and must be designated as a hedge at the inception of the contract . the company designates derivatives as cash flow hedges , fair value hedges , net investment hedges , and uses other contracts to reduce volatility in interest rates , foreign currency and commodities . as a matter of policy , the company does not engage in trading or speculative hedging transactions . total notional amounts of the company 2019s derivative instruments as of december 28 , 2013 and december 29 , 2012 were as follows: .

following is a description of each category in the fair value hierarchy and the financial assets and liabilities of the company that were included in each category at december 28 , 2013 and december 29 , 2012 , measured on a recurring basis . level 1 2014 financial assets and liabilities whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market . for the company , level 1 financial assets and liabilities consist primarily of commodity derivative contracts . level 2 2014 financial assets and liabilities whose values are based on quoted prices in markets that are not active or model inputs that are observable either directly or indirectly for substantially the full term of the asset or liability . for the company , level 2 financial assets and liabilities consist of interest rate swaps and over-the-counter commodity and currency contracts . the company 2019s calculation of the fair value of interest rate swaps is derived from a discounted cash flow analysis based on the terms of the contract and the interest rate curve . over-the-counter commodity derivatives are valued using an income approach based on the commodity index prices less the contract rate multiplied by the notional amount . foreign currency contracts are valued using an income approach based on forward rates less the contract rate multiplied by the notional amount . the company 2019s calculation of the fair value of level 2 financial assets and liabilities takes into consideration the risk of nonperformance , including counterparty credit risk . level 3 2014 financial assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement . these inputs reflect management 2019s own assumptions about the assumptions a market participant would use in pricing the asset or liability . the company did not have any level 3 financial assets or liabilities as of december 28 , 2013 or december 29 , 2012. .

| | ( millions ) | 2013 | 2012 | |---:|:------------------------------------|:-------|:-------| | 0 | foreign currency exchange contracts | $ 517 | $ 570 | | 1 | interest rate contracts | 2400 | 2150 | | 2 | commodity contracts | 361 | 320 | | 3 | total | $ 3278 | $ 3040 |

december 31 , 2011 , the company recognized a decrease of $ 3 million of tax-related interest and penalties and had approximately $ 16 million accrued at december 31 , 2011 . note 12 derivative instruments and fair value measurements the company is exposed to certain market risks such as changes in interest rates , foreign currency exchange rates , and commodity prices , which exist as a part of its ongoing business operations . management uses derivative financial and commodity instruments , including futures , options , and swaps , where appropriate , to manage these risks . instruments used as hedges must be effective at reducing the risk associated with the exposure being hedged and must be designated as a hedge at the inception of the contract . the company designates derivatives as cash flow hedges , fair value hedges , net investment hedges , and uses other contracts to reduce volatility in interest rates , foreign currency and commodities . as a matter of policy , the company does not engage in trading or speculative hedging transactions . total notional amounts of the company 2019s derivative instruments as of december 28 , 2013 and december 29 , 2012 were as follows: ._| | ( millions ) | 2013 | 2012 | |---:|:------------------------------------|:-------|:-------| | 0 | foreign currency exchange contracts | $ 517 | $ 570 | | 1 | interest rate contracts | 2400 | 2150 | | 2 | commodity contracts | 361 | 320 | | 3 | total | $ 3278 | $ 3040 |_following is a description of each category in the fair value hierarchy and the financial assets and liabilities of the company that were included in each category at december 28 , 2013 and december 29 , 2012 , measured on a recurring basis . level 1 2014 financial assets and liabilities whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market . for the company , level 1 financial assets and liabilities consist primarily of commodity derivative contracts . level 2 2014 financial assets and liabilities whose values are based on quoted prices in markets that are not active or model inputs that are observable either directly or indirectly for substantially the full term of the asset or liability . for the company , level 2 financial assets and liabilities consist of interest rate swaps and over-the-counter commodity and currency contracts . the company 2019s calculation of the fair value of interest rate swaps is derived from a discounted cash flow analysis based on the terms of the contract and the interest rate curve . over-the-counter commodity derivatives are valued using an income approach based on the commodity index prices less the contract rate multiplied by the notional amount . foreign currency contracts are valued using an income approach based on forward rates less the contract rate multiplied by the notional amount . the company 2019s calculation of the fair value of level 2 financial assets and liabilities takes into consideration the risk of nonperformance , including counterparty credit risk . level 3 2014 financial assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement . these inputs reflect management 2019s own assumptions about the assumptions a market participant would use in pricing the asset or liability . the company did not have any level 3 financial assets or liabilities as of december 28 , 2013 or december 29 , 2012. .

2,013

62

K

Kellanova

Consumer Staples

Packaged Foods & Meats

Chicago, Illinois

1989-09-11

55,067

1906

what was the percentage change in the company recognized tax-related interest and penalties in 2011 .

15.8%

divide(3, add(16, 3))

december 31 , 2011 , the company recognized a decrease of $ 3 million of tax-related interest and penalties and had approximately $ 16 million accrued at december 31 , 2011 . note 12 derivative instruments and fair value measurements the company is exposed to certain market risks such as changes in interest rates , foreign currency exchange rates , and commodity prices , which exist as a part of its ongoing business operations . management uses derivative financial and commodity instruments , including futures , options , and swaps , where appropriate , to manage these risks . instruments used as hedges must be effective at reducing the risk associated with the exposure being hedged and must be designated as a hedge at the inception of the contract . the company designates derivatives as cash flow hedges , fair value hedges , net investment hedges , and uses other contracts to reduce volatility in interest rates , foreign currency and commodities . as a matter of policy , the company does not engage in trading or speculative hedging transactions . total notional amounts of the company 2019s derivative instruments as of december 28 , 2013 and december 29 , 2012 were as follows: .

following is a description of each category in the fair value hierarchy and the financial assets and liabilities of the company that were included in each category at december 28 , 2013 and december 29 , 2012 , measured on a recurring basis . level 1 2014 financial assets and liabilities whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market . for the company , level 1 financial assets and liabilities consist primarily of commodity derivative contracts . level 2 2014 financial assets and liabilities whose values are based on quoted prices in markets that are not active or model inputs that are observable either directly or indirectly for substantially the full term of the asset or liability . for the company , level 2 financial assets and liabilities consist of interest rate swaps and over-the-counter commodity and currency contracts . the company 2019s calculation of the fair value of interest rate swaps is derived from a discounted cash flow analysis based on the terms of the contract and the interest rate curve . over-the-counter commodity derivatives are valued using an income approach based on the commodity index prices less the contract rate multiplied by the notional amount . foreign currency contracts are valued using an income approach based on forward rates less the contract rate multiplied by the notional amount . the company 2019s calculation of the fair value of level 2 financial assets and liabilities takes into consideration the risk of nonperformance , including counterparty credit risk . level 3 2014 financial assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement . these inputs reflect management 2019s own assumptions about the assumptions a market participant would use in pricing the asset or liability . the company did not have any level 3 financial assets or liabilities as of december 28 , 2013 or december 29 , 2012. .

| | ( millions ) | 2013 | 2012 | |---:|:------------------------------------|:-------|:-------| | 0 | foreign currency exchange contracts | $ 517 | $ 570 | | 1 | interest rate contracts | 2400 | 2150 | | 2 | commodity contracts | 361 | 320 | | 3 | total | $ 3278 | $ 3040 |

december 31 , 2011 , the company recognized a decrease of $ 3 million of tax-related interest and penalties and had approximately $ 16 million accrued at december 31 , 2011 . note 12 derivative instruments and fair value measurements the company is exposed to certain market risks such as changes in interest rates , foreign currency exchange rates , and commodity prices , which exist as a part of its ongoing business operations . management uses derivative financial and commodity instruments , including futures , options , and swaps , where appropriate , to manage these risks . instruments used as hedges must be effective at reducing the risk associated with the exposure being hedged and must be designated as a hedge at the inception of the contract . the company designates derivatives as cash flow hedges , fair value hedges , net investment hedges , and uses other contracts to reduce volatility in interest rates , foreign currency and commodities . as a matter of policy , the company does not engage in trading or speculative hedging transactions . total notional amounts of the company 2019s derivative instruments as of december 28 , 2013 and december 29 , 2012 were as follows: ._| | ( millions ) | 2013 | 2012 | |---:|:------------------------------------|:-------|:-------| | 0 | foreign currency exchange contracts | $ 517 | $ 570 | | 1 | interest rate contracts | 2400 | 2150 | | 2 | commodity contracts | 361 | 320 | | 3 | total | $ 3278 | $ 3040 |_following is a description of each category in the fair value hierarchy and the financial assets and liabilities of the company that were included in each category at december 28 , 2013 and december 29 , 2012 , measured on a recurring basis . level 1 2014 financial assets and liabilities whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market . for the company , level 1 financial assets and liabilities consist primarily of commodity derivative contracts . level 2 2014 financial assets and liabilities whose values are based on quoted prices in markets that are not active or model inputs that are observable either directly or indirectly for substantially the full term of the asset or liability . for the company , level 2 financial assets and liabilities consist of interest rate swaps and over-the-counter commodity and currency contracts . the company 2019s calculation of the fair value of interest rate swaps is derived from a discounted cash flow analysis based on the terms of the contract and the interest rate curve . over-the-counter commodity derivatives are valued using an income approach based on the commodity index prices less the contract rate multiplied by the notional amount . foreign currency contracts are valued using an income approach based on forward rates less the contract rate multiplied by the notional amount . the company 2019s calculation of the fair value of level 2 financial assets and liabilities takes into consideration the risk of nonperformance , including counterparty credit risk . level 3 2014 financial assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement . these inputs reflect management 2019s own assumptions about the assumptions a market participant would use in pricing the asset or liability . the company did not have any level 3 financial assets or liabilities as of december 28 , 2013 or december 29 , 2012. .

2,013

62

K

Kellanova

Consumer Staples

Packaged Foods & Meats

Chicago, Illinois

1989-09-11

55,067

1906

null

finqa255

what is the operating margin for connected fitness in 2014?

-68.0%

divide(divide(-13064, const_1000), 19.2)

2022 net revenues in our connected fitness operating segment increased $ 34.2 million to $ 53.4 million in 2015 from $ 19.2 million in 2014 primarily due to revenues generated from our two connected fitness acquisitions in 2015 and growth in our existing connected fitness business . operating income ( loss ) by segment is summarized below: .

the increase in total operating income was driven by the following : 2022 operating income in our north america operating segment increased $ 88.6 million to $ 461.0 million in 2015 from $ 372.4 million in 2014 primarily due to the items discussed above in the consolidated results of operations . 2022 operating income in our emea operating segment increased $ 14.9 million to $ 3.1 million in 2015 from a loss of $ 11.8 million in 2014 primarily due to sales growth discussed above in the consolidated results of operations . 2022 operating income in our asia-pacific operating segment increased $ 14.5 million to $ 36.4 million in 2015 from $ 21.9 million in 2014 primarily due to sales growth discussed above in the consolidated results of operations . 2022 operating loss in our latin america operating segment increased $ 15.2 million to $ 30.6 million in 2015 from $ 15.4 million in 2014 primarily due to increased investments to support growth in the region and the economic challenges in brazil during the period . this increase in operating loss was offset by sales growth discussed above . 2022 operating loss in our connected fitness segment increased $ 48.2 million to $ 61.3 million in 2015 from $ 13.1 million in 2014 primarily due to investments to support growth in our connected fitness business , including the impact of our two connected fitness acquisitions in 2015 . these acquisitions contributed $ 23.6 million to the operating loss for the connected fitness segment in 2015 . seasonality historically , we have recognized a majority of our net revenues and a significant portion of our income from operations in the last two quarters of the year , driven primarily by increased sales volume of our products during the fall selling season , including our higher priced cold weather products , along with a larger proportion of higher margin direct to consumer sales . seasonality could have an impact on the timing of accruals if the sales in the last two quarters of the year do not materialize . the level of our working capital generally reflects the seasonality and growth in our business . we generally expect inventory , accounts payable and certain accrued expenses to be higher in the second and third quarters in preparation for the fall selling season. .

| | ( in thousands ) | year ended december 31 , 2015 | year ended december 31 , 2014 | year ended december 31 , $ change | year ended december 31 , % ( % ) change | |---:|:-----------------------|:--------------------------------|:--------------------------------|:------------------------------------|:-------------------------------------------| | 0 | north america | $ 460961 | $ 372347 | $ 88614 | 23.8% ( 23.8 % ) | | 1 | emea | 3122 | -11763 ( 11763 ) | 14885 | 126.5 | | 2 | asia-pacific | 36358 | 21858 | 14500 | 66.3 | | 3 | latin america | -30593 ( 30593 ) | -15423 ( 15423 ) | -15170 ( 15170 ) | -98.4 ( 98.4 ) | | 4 | connected fitness | -61301 ( 61301 ) | -13064 ( 13064 ) | -48237 ( 48237 ) | -369.2 ( 369.2 ) | | 5 | total operating income | $ 408547 | $ 353955 | $ 54592 | 15.4% ( 15.4 % ) |

2022 net revenues in our connected fitness operating segment increased $ 34.2 million to $ 53.4 million in 2015 from $ 19.2 million in 2014 primarily due to revenues generated from our two connected fitness acquisitions in 2015 and growth in our existing connected fitness business . operating income ( loss ) by segment is summarized below: ._| | ( in thousands ) | year ended december 31 , 2015 | year ended december 31 , 2014 | year ended december 31 , $ change | year ended december 31 , % ( % ) change | |---:|:-----------------------|:--------------------------------|:--------------------------------|:------------------------------------|:-------------------------------------------| | 0 | north america | $ 460961 | $ 372347 | $ 88614 | 23.8% ( 23.8 % ) | | 1 | emea | 3122 | -11763 ( 11763 ) | 14885 | 126.5 | | 2 | asia-pacific | 36358 | 21858 | 14500 | 66.3 | | 3 | latin america | -30593 ( 30593 ) | -15423 ( 15423 ) | -15170 ( 15170 ) | -98.4 ( 98.4 ) | | 4 | connected fitness | -61301 ( 61301 ) | -13064 ( 13064 ) | -48237 ( 48237 ) | -369.2 ( 369.2 ) | | 5 | total operating income | $ 408547 | $ 353955 | $ 54592 | 15.4% ( 15.4 % ) |_the increase in total operating income was driven by the following : 2022 operating income in our north america operating segment increased $ 88.6 million to $ 461.0 million in 2015 from $ 372.4 million in 2014 primarily due to the items discussed above in the consolidated results of operations . 2022 operating income in our emea operating segment increased $ 14.9 million to $ 3.1 million in 2015 from a loss of $ 11.8 million in 2014 primarily due to sales growth discussed above in the consolidated results of operations . 2022 operating income in our asia-pacific operating segment increased $ 14.5 million to $ 36.4 million in 2015 from $ 21.9 million in 2014 primarily due to sales growth discussed above in the consolidated results of operations . 2022 operating loss in our latin america operating segment increased $ 15.2 million to $ 30.6 million in 2015 from $ 15.4 million in 2014 primarily due to increased investments to support growth in the region and the economic challenges in brazil during the period . this increase in operating loss was offset by sales growth discussed above . 2022 operating loss in our connected fitness segment increased $ 48.2 million to $ 61.3 million in 2015 from $ 13.1 million in 2014 primarily due to investments to support growth in our connected fitness business , including the impact of our two connected fitness acquisitions in 2015 . these acquisitions contributed $ 23.6 million to the operating loss for the connected fitness segment in 2015 . seasonality historically , we have recognized a majority of our net revenues and a significant portion of our income from operations in the last two quarters of the year , driven primarily by increased sales volume of our products during the fall selling season , including our higher priced cold weather products , along with a larger proportion of higher margin direct to consumer sales . seasonality could have an impact on the timing of accruals if the sales in the last two quarters of the year do not materialize . the level of our working capital generally reflects the seasonality and growth in our business . we generally expect inventory , accounts payable and certain accrued expenses to be higher in the second and third quarters in preparation for the fall selling season. .

2,016

52

UAA

Under Armour, Inc.

Consumer Discretionary

Apparel, Accessories, & Luxury

Baltimore, MD

2016-01-01

1,336,917

1996

what is the operating margin for connected fitness in 2014?

-68.0%

divide(divide(-13064, const_1000), 19.2)

2022 net revenues in our connected fitness operating segment increased $ 34.2 million to $ 53.4 million in 2015 from $ 19.2 million in 2014 primarily due to revenues generated from our two connected fitness acquisitions in 2015 and growth in our existing connected fitness business . operating income ( loss ) by segment is summarized below: .

the increase in total operating income was driven by the following : 2022 operating income in our north america operating segment increased $ 88.6 million to $ 461.0 million in 2015 from $ 372.4 million in 2014 primarily due to the items discussed above in the consolidated results of operations . 2022 operating income in our emea operating segment increased $ 14.9 million to $ 3.1 million in 2015 from a loss of $ 11.8 million in 2014 primarily due to sales growth discussed above in the consolidated results of operations . 2022 operating income in our asia-pacific operating segment increased $ 14.5 million to $ 36.4 million in 2015 from $ 21.9 million in 2014 primarily due to sales growth discussed above in the consolidated results of operations . 2022 operating loss in our latin america operating segment increased $ 15.2 million to $ 30.6 million in 2015 from $ 15.4 million in 2014 primarily due to increased investments to support growth in the region and the economic challenges in brazil during the period . this increase in operating loss was offset by sales growth discussed above . 2022 operating loss in our connected fitness segment increased $ 48.2 million to $ 61.3 million in 2015 from $ 13.1 million in 2014 primarily due to investments to support growth in our connected fitness business , including the impact of our two connected fitness acquisitions in 2015 . these acquisitions contributed $ 23.6 million to the operating loss for the connected fitness segment in 2015 . seasonality historically , we have recognized a majority of our net revenues and a significant portion of our income from operations in the last two quarters of the year , driven primarily by increased sales volume of our products during the fall selling season , including our higher priced cold weather products , along with a larger proportion of higher margin direct to consumer sales . seasonality could have an impact on the timing of accruals if the sales in the last two quarters of the year do not materialize . the level of our working capital generally reflects the seasonality and growth in our business . we generally expect inventory , accounts payable and certain accrued expenses to be higher in the second and third quarters in preparation for the fall selling season. .

| | ( in thousands ) | year ended december 31 , 2015 | year ended december 31 , 2014 | year ended december 31 , $ change | year ended december 31 , % ( % ) change | |---:|:-----------------------|:--------------------------------|:--------------------------------|:------------------------------------|:-------------------------------------------| | 0 | north america | $ 460961 | $ 372347 | $ 88614 | 23.8% ( 23.8 % ) | | 1 | emea | 3122 | -11763 ( 11763 ) | 14885 | 126.5 | | 2 | asia-pacific | 36358 | 21858 | 14500 | 66.3 | | 3 | latin america | -30593 ( 30593 ) | -15423 ( 15423 ) | -15170 ( 15170 ) | -98.4 ( 98.4 ) | | 4 | connected fitness | -61301 ( 61301 ) | -13064 ( 13064 ) | -48237 ( 48237 ) | -369.2 ( 369.2 ) | | 5 | total operating income | $ 408547 | $ 353955 | $ 54592 | 15.4% ( 15.4 % ) |

2022 net revenues in our connected fitness operating segment increased $ 34.2 million to $ 53.4 million in 2015 from $ 19.2 million in 2014 primarily due to revenues generated from our two connected fitness acquisitions in 2015 and growth in our existing connected fitness business . operating income ( loss ) by segment is summarized below: ._| | ( in thousands ) | year ended december 31 , 2015 | year ended december 31 , 2014 | year ended december 31 , $ change | year ended december 31 , % ( % ) change | |---:|:-----------------------|:--------------------------------|:--------------------------------|:------------------------------------|:-------------------------------------------| | 0 | north america | $ 460961 | $ 372347 | $ 88614 | 23.8% ( 23.8 % ) | | 1 | emea | 3122 | -11763 ( 11763 ) | 14885 | 126.5 | | 2 | asia-pacific | 36358 | 21858 | 14500 | 66.3 | | 3 | latin america | -30593 ( 30593 ) | -15423 ( 15423 ) | -15170 ( 15170 ) | -98.4 ( 98.4 ) | | 4 | connected fitness | -61301 ( 61301 ) | -13064 ( 13064 ) | -48237 ( 48237 ) | -369.2 ( 369.2 ) | | 5 | total operating income | $ 408547 | $ 353955 | $ 54592 | 15.4% ( 15.4 % ) |_the increase in total operating income was driven by the following : 2022 operating income in our north america operating segment increased $ 88.6 million to $ 461.0 million in 2015 from $ 372.4 million in 2014 primarily due to the items discussed above in the consolidated results of operations . 2022 operating income in our emea operating segment increased $ 14.9 million to $ 3.1 million in 2015 from a loss of $ 11.8 million in 2014 primarily due to sales growth discussed above in the consolidated results of operations . 2022 operating income in our asia-pacific operating segment increased $ 14.5 million to $ 36.4 million in 2015 from $ 21.9 million in 2014 primarily due to sales growth discussed above in the consolidated results of operations . 2022 operating loss in our latin america operating segment increased $ 15.2 million to $ 30.6 million in 2015 from $ 15.4 million in 2014 primarily due to increased investments to support growth in the region and the economic challenges in brazil during the period . this increase in operating loss was offset by sales growth discussed above . 2022 operating loss in our connected fitness segment increased $ 48.2 million to $ 61.3 million in 2015 from $ 13.1 million in 2014 primarily due to investments to support growth in our connected fitness business , including the impact of our two connected fitness acquisitions in 2015 . these acquisitions contributed $ 23.6 million to the operating loss for the connected fitness segment in 2015 . seasonality historically , we have recognized a majority of our net revenues and a significant portion of our income from operations in the last two quarters of the year , driven primarily by increased sales volume of our products during the fall selling season , including our higher priced cold weather products , along with a larger proportion of higher margin direct to consumer sales . seasonality could have an impact on the timing of accruals if the sales in the last two quarters of the year do not materialize . the level of our working capital generally reflects the seasonality and growth in our business . we generally expect inventory , accounts payable and certain accrued expenses to be higher in the second and third quarters in preparation for the fall selling season. .

2,016

52

UAA

Under Armour, Inc.

Consumer Discretionary

Apparel, Accessories, & Luxury

Baltimore, MD

2016-01-01

1,336,917

1996

null

finqa256

what is the difference in millions of international subscribers between discovery channel and animal planet?

63

subtract(246, 183)

international networks international networks generated revenues of $ 1637 million during 2012 , which represented 37% ( 37 % ) of our total consolidated revenues . our international networks segment principally consists of national and pan-regional television networks . this segment generates revenue from operations in virtually every pay-television market in the world through an infrastructure that includes operational centers in london , singapore and miami . discovery channel , animal planet and tlc lead the international networks 2019 portfolio of television networks . international networks has one of the largest international distribution platforms of networks with as many as fourteen networks in more than 200 countries and territories around the world . at december 31 , 2012 , international networks operated over 180 unique distribution feeds in over 40 languages with channel feeds customized according to language needs and advertising sales opportunities . international networks also has free-to-air networks in the u.k. , germany , italy and spain and continues to pursue international expansion . our international networks segment owns and operates the following television networks which reached the following number of subscribers as of december 31 , 2012 : global networks international subscribers ( millions ) regional networks international subscribers ( millions ) .

on december 21 , 2012 , our international networks segment acquired 20% ( 20 % ) equity ownership interests in eurosport , a european sports satellite and cable network , and a portfolio of pay television networks from tf1 , a french media company , for $ 264 million , including transaction costs . we have a call right that enables us to purchase a controlling interest in eurosport starting december 2014 and for one year thereafter . if we exercise our call right , tf1 will have the right to put its remaining interest to us for one year thereafter . the arrangement is intended to increase the growth of eurosport , which focuses on niche but regionally popular sports such as tennis , skiing , cycling and skating , and enhance our pay television offerings in france . on december 28 , 2012 , we acquired switchover media , a group of five italian television channels with children's and entertainment programming . ( see note 3 to the accompanying consolidated financial statements. ) education education generated revenues of $ 105 million during 2012 , which represented 2% ( 2 % ) of our total consolidated revenues . education is comprised of curriculum-based product and service offerings . this segment generates revenues primarily from subscriptions charged to k-12 schools for access to an online suite of curriculum-based vod tools , professional development services , digital textbooks and , to a lesser extent , student assessments and publication of hardcopy curriculum-based content . our education business also participates in global brand and content licensing and engages in partnerships with leading non-profits , corporations , foundations and trade associations . content development our content development strategy is designed to increase viewership , maintain innovation and quality leadership , and provide value for our network distributors and advertising customers . our content is sourced from a wide range of third-party producers , which include some of the world 2019s leading nonfiction production companies as well as independent producers . our production arrangements fall into three categories : produced , coproduced and licensed . substantially all produced content includes content that we engage third parties to develop and produce , while we retain editorial control and own most or all of the rights , in exchange for paying all development and production costs . coproduced content refers to program rights that we have collaborated with third parties to finance and develop because at times world-wide rights are not available for acquisition or we save costs by collaborating with third parties . licensed content is comprised of films or series that have been previously produced by third parties. .

| | global networks discovery channel | internationalsubscribers ( millions ) 246 | regional networks dmax | internationalsubscribers ( millions ) 90 | |---:|:------------------------------------|--------------------------------------------:|:------------------------------|:-------------------------------------------| | 0 | animal planet | 183 | discovery kids | 61 | | 1 | tlc real time and travel & living | 174 | quest | 26 | | 2 | discovery science | 75 | discovery history | 13 | | 3 | investigation discovery | 63 | shed | 12 | | 4 | discovery home & health | 57 | discovery en espanol ( u.s. ) | 5 | | 5 | turbo | 42 | discovery familia ( u.s ) | 4 | | 6 | discovery world | 27 | | |

international networks international networks generated revenues of $ 1637 million during 2012 , which represented 37% ( 37 % ) of our total consolidated revenues . our international networks segment principally consists of national and pan-regional television networks . this segment generates revenue from operations in virtually every pay-television market in the world through an infrastructure that includes operational centers in london , singapore and miami . discovery channel , animal planet and tlc lead the international networks 2019 portfolio of television networks . international networks has one of the largest international distribution platforms of networks with as many as fourteen networks in more than 200 countries and territories around the world . at december 31 , 2012 , international networks operated over 180 unique distribution feeds in over 40 languages with channel feeds customized according to language needs and advertising sales opportunities . international networks also has free-to-air networks in the u.k. , germany , italy and spain and continues to pursue international expansion . our international networks segment owns and operates the following television networks which reached the following number of subscribers as of december 31 , 2012 : global networks international subscribers ( millions ) regional networks international subscribers ( millions ) ._| | global networks discovery channel | internationalsubscribers ( millions ) 246 | regional networks dmax | internationalsubscribers ( millions ) 90 | |---:|:------------------------------------|--------------------------------------------:|:------------------------------|:-------------------------------------------| | 0 | animal planet | 183 | discovery kids | 61 | | 1 | tlc real time and travel & living | 174 | quest | 26 | | 2 | discovery science | 75 | discovery history | 13 | | 3 | investigation discovery | 63 | shed | 12 | | 4 | discovery home & health | 57 | discovery en espanol ( u.s. ) | 5 | | 5 | turbo | 42 | discovery familia ( u.s ) | 4 | | 6 | discovery world | 27 | | |_on december 21 , 2012 , our international networks segment acquired 20% ( 20 % ) equity ownership interests in eurosport , a european sports satellite and cable network , and a portfolio of pay television networks from tf1 , a french media company , for $ 264 million , including transaction costs . we have a call right that enables us to purchase a controlling interest in eurosport starting december 2014 and for one year thereafter . if we exercise our call right , tf1 will have the right to put its remaining interest to us for one year thereafter . the arrangement is intended to increase the growth of eurosport , which focuses on niche but regionally popular sports such as tennis , skiing , cycling and skating , and enhance our pay television offerings in france . on december 28 , 2012 , we acquired switchover media , a group of five italian television channels with children's and entertainment programming . ( see note 3 to the accompanying consolidated financial statements. ) education education generated revenues of $ 105 million during 2012 , which represented 2% ( 2 % ) of our total consolidated revenues . education is comprised of curriculum-based product and service offerings . this segment generates revenues primarily from subscriptions charged to k-12 schools for access to an online suite of curriculum-based vod tools , professional development services , digital textbooks and , to a lesser extent , student assessments and publication of hardcopy curriculum-based content . our education business also participates in global brand and content licensing and engages in partnerships with leading non-profits , corporations , foundations and trade associations . content development our content development strategy is designed to increase viewership , maintain innovation and quality leadership , and provide value for our network distributors and advertising customers . our content is sourced from a wide range of third-party producers , which include some of the world 2019s leading nonfiction production companies as well as independent producers . our production arrangements fall into three categories : produced , coproduced and licensed . substantially all produced content includes content that we engage third parties to develop and produce , while we retain editorial control and own most or all of the rights , in exchange for paying all development and production costs . coproduced content refers to program rights that we have collaborated with third parties to finance and develop because at times world-wide rights are not available for acquisition or we save costs by collaborating with third parties . licensed content is comprised of films or series that have been previously produced by third parties. .

2,012

39

DISCA

Discovery, Inc.

Communication Services

Broadcasting

New York, NY

2014-01-01

1,437,107

1985

what is the difference in millions of international subscribers between discovery channel and animal planet?

63

subtract(246, 183)

international networks international networks generated revenues of $ 1637 million during 2012 , which represented 37% ( 37 % ) of our total consolidated revenues . our international networks segment principally consists of national and pan-regional television networks . this segment generates revenue from operations in virtually every pay-television market in the world through an infrastructure that includes operational centers in london , singapore and miami . discovery channel , animal planet and tlc lead the international networks 2019 portfolio of television networks . international networks has one of the largest international distribution platforms of networks with as many as fourteen networks in more than 200 countries and territories around the world . at december 31 , 2012 , international networks operated over 180 unique distribution feeds in over 40 languages with channel feeds customized according to language needs and advertising sales opportunities . international networks also has free-to-air networks in the u.k. , germany , italy and spain and continues to pursue international expansion . our international networks segment owns and operates the following television networks which reached the following number of subscribers as of december 31 , 2012 : global networks international subscribers ( millions ) regional networks international subscribers ( millions ) .

on december 21 , 2012 , our international networks segment acquired 20% ( 20 % ) equity ownership interests in eurosport , a european sports satellite and cable network , and a portfolio of pay television networks from tf1 , a french media company , for $ 264 million , including transaction costs . we have a call right that enables us to purchase a controlling interest in eurosport starting december 2014 and for one year thereafter . if we exercise our call right , tf1 will have the right to put its remaining interest to us for one year thereafter . the arrangement is intended to increase the growth of eurosport , which focuses on niche but regionally popular sports such as tennis , skiing , cycling and skating , and enhance our pay television offerings in france . on december 28 , 2012 , we acquired switchover media , a group of five italian television channels with children's and entertainment programming . ( see note 3 to the accompanying consolidated financial statements. ) education education generated revenues of $ 105 million during 2012 , which represented 2% ( 2 % ) of our total consolidated revenues . education is comprised of curriculum-based product and service offerings . this segment generates revenues primarily from subscriptions charged to k-12 schools for access to an online suite of curriculum-based vod tools , professional development services , digital textbooks and , to a lesser extent , student assessments and publication of hardcopy curriculum-based content . our education business also participates in global brand and content licensing and engages in partnerships with leading non-profits , corporations , foundations and trade associations . content development our content development strategy is designed to increase viewership , maintain innovation and quality leadership , and provide value for our network distributors and advertising customers . our content is sourced from a wide range of third-party producers , which include some of the world 2019s leading nonfiction production companies as well as independent producers . our production arrangements fall into three categories : produced , coproduced and licensed . substantially all produced content includes content that we engage third parties to develop and produce , while we retain editorial control and own most or all of the rights , in exchange for paying all development and production costs . coproduced content refers to program rights that we have collaborated with third parties to finance and develop because at times world-wide rights are not available for acquisition or we save costs by collaborating with third parties . licensed content is comprised of films or series that have been previously produced by third parties. .

| | global networks discovery channel | internationalsubscribers ( millions ) 246 | regional networks dmax | internationalsubscribers ( millions ) 90 | |---:|:------------------------------------|--------------------------------------------:|:------------------------------|:-------------------------------------------| | 0 | animal planet | 183 | discovery kids | 61 | | 1 | tlc real time and travel & living | 174 | quest | 26 | | 2 | discovery science | 75 | discovery history | 13 | | 3 | investigation discovery | 63 | shed | 12 | | 4 | discovery home & health | 57 | discovery en espanol ( u.s. ) | 5 | | 5 | turbo | 42 | discovery familia ( u.s ) | 4 | | 6 | discovery world | 27 | | |

international networks international networks generated revenues of $ 1637 million during 2012 , which represented 37% ( 37 % ) of our total consolidated revenues . our international networks segment principally consists of national and pan-regional television networks . this segment generates revenue from operations in virtually every pay-television market in the world through an infrastructure that includes operational centers in london , singapore and miami . discovery channel , animal planet and tlc lead the international networks 2019 portfolio of television networks . international networks has one of the largest international distribution platforms of networks with as many as fourteen networks in more than 200 countries and territories around the world . at december 31 , 2012 , international networks operated over 180 unique distribution feeds in over 40 languages with channel feeds customized according to language needs and advertising sales opportunities . international networks also has free-to-air networks in the u.k. , germany , italy and spain and continues to pursue international expansion . our international networks segment owns and operates the following television networks which reached the following number of subscribers as of december 31 , 2012 : global networks international subscribers ( millions ) regional networks international subscribers ( millions ) ._| | global networks discovery channel | internationalsubscribers ( millions ) 246 | regional networks dmax | internationalsubscribers ( millions ) 90 | |---:|:------------------------------------|--------------------------------------------:|:------------------------------|:-------------------------------------------| | 0 | animal planet | 183 | discovery kids | 61 | | 1 | tlc real time and travel & living | 174 | quest | 26 | | 2 | discovery science | 75 | discovery history | 13 | | 3 | investigation discovery | 63 | shed | 12 | | 4 | discovery home & health | 57 | discovery en espanol ( u.s. ) | 5 | | 5 | turbo | 42 | discovery familia ( u.s ) | 4 | | 6 | discovery world | 27 | | |_on december 21 , 2012 , our international networks segment acquired 20% ( 20 % ) equity ownership interests in eurosport , a european sports satellite and cable network , and a portfolio of pay television networks from tf1 , a french media company , for $ 264 million , including transaction costs . we have a call right that enables us to purchase a controlling interest in eurosport starting december 2014 and for one year thereafter . if we exercise our call right , tf1 will have the right to put its remaining interest to us for one year thereafter . the arrangement is intended to increase the growth of eurosport , which focuses on niche but regionally popular sports such as tennis , skiing , cycling and skating , and enhance our pay television offerings in france . on december 28 , 2012 , we acquired switchover media , a group of five italian television channels with children's and entertainment programming . ( see note 3 to the accompanying consolidated financial statements. ) education education generated revenues of $ 105 million during 2012 , which represented 2% ( 2 % ) of our total consolidated revenues . education is comprised of curriculum-based product and service offerings . this segment generates revenues primarily from subscriptions charged to k-12 schools for access to an online suite of curriculum-based vod tools , professional development services , digital textbooks and , to a lesser extent , student assessments and publication of hardcopy curriculum-based content . our education business also participates in global brand and content licensing and engages in partnerships with leading non-profits , corporations , foundations and trade associations . content development our content development strategy is designed to increase viewership , maintain innovation and quality leadership , and provide value for our network distributors and advertising customers . our content is sourced from a wide range of third-party producers , which include some of the world 2019s leading nonfiction production companies as well as independent producers . our production arrangements fall into three categories : produced , coproduced and licensed . substantially all produced content includes content that we engage third parties to develop and produce , while we retain editorial control and own most or all of the rights , in exchange for paying all development and production costs . coproduced content refers to program rights that we have collaborated with third parties to finance and develop because at times world-wide rights are not available for acquisition or we save costs by collaborating with third parties . licensed content is comprised of films or series that have been previously produced by third parties. .

2,012

39

DISCA

Discovery, Inc.

Communication Services

Broadcasting

New York, NY

2014-01-01

1,437,107

1985

null

finqa257

what is the percentage change in the weighted-average discount rate for non-u.s . pension plans from 2014 to 2015?

-12.5%

divide(subtract(1.68, 1.92), 1.92)

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 non-u.s . pension plans from 2014 to 2015?

-12.5%

divide(subtract(1.68, 1.92), 1.92)

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

finqa258

what was the percent of minimum total assets available for default that was guaranty fund contributions ( 2 )

26.4%

divide(2899.5, 10973.1)

2022 a financial safeguard package for cleared over-the-counter credit default swap contracts , and 2022 a financial safeguard package for cleared over-the-counter interest rate swap contracts . in the unlikely event of a payment default by a clearing firm , we would first apply assets of the defaulting clearing firm to satisfy its payment obligation . these assets include the defaulting firm 2019s guaranty fund contributions , performance bonds and any other available assets , such as assets required for membership and any associated trading rights . in addition , we would make a demand for payment pursuant to any applicable guarantee provided to us by the parent company of the clearing firm . thereafter , if the payment default remains unsatisfied , we would use the corporate contributions designated for the respective financial safeguard package . we would then use guaranty fund contributions of other clearing firms within the respective financial safeguard package and funds collected through an assessment against solvent clearing firms within the respective financial safeguard package to satisfy the deficit . we maintain a $ 5.0 billion 364-day multi-currency line of credit with a consortium of domestic and international banks to be used in certain situations by cme clearing . we have the option to request an increase in the line from $ 5.0 billion to $ 7.0 billion . we may use the proceeds to provide temporary liquidity in the unlikely event of a clearing firm default , in the event of a liquidity constraint or default by a depositary ( custodian of the collateral ) , or in the event of a temporary disruption with the payments systems that would delay payment of settlement variation between us and our clearing firms . the credit agreement requires us to pledge certain assets to the line of credit custodian prior to drawing on the line of credit . pledged assets may include clearing firm guaranty fund deposits held by us in the form of u.s . treasury or agency securities , as well as select money market mutual funds approved for our select interest earning facility ( ief ) programs . performance bond collateral of a defaulting clearing firm may also be used to secure a draw on the line . in addition to the 364-day multi- currency line of credit , we also have the option to use our $ 1.8 billion multi-currency revolving senior credit facility to provide liquidity for our clearing house in the unlikely event of default . aggregate performance bond deposits for clearing firms for all three cme financial safeguard packages was $ 86.8 billion , including $ 5.6 billion of cash performance bond deposits and $ 4.2 billion of letters of credit . a defaulting firm 2019s performance bond deposits can be used in the event of default of that clearing firm . the following shows the available assets at december 31 , 2012 in the event of a payment default by a clearing firm for the base financial safeguard package after first utilizing the defaulting firm 2019s available assets : ( in millions ) cme clearing available assets designated corporate contributions for futures and options ( 1 ) . . . . . . . . $ 100.0 guaranty fund contributions ( 2 ) . . . . . 2899.5 assessment powers ( 3 ) . . . . . . . . . . . . 7973.6 minimum total assets available for default ( 4 ) . . . . . . . . . . . . . . . . . . . . $ 10973.1 ( 1 ) cme clearing designates $ 100.0 million of corporate contributions to satisfy a clearing firm default in the event that the defaulting clearing firm 2019s guaranty contributions and performance bonds do not satisfy the deficit . ( 2 ) guaranty fund contributions of clearing firms include guaranty fund contributions required of clearing firms , but do not include any excess deposits held by us at the direction of clearing firms . ( 3 ) in the event of a clearing firm default , if a loss continues to exist after the utilization of the assets of the defaulted firm , our designated working capital and the non-defaulting clearing firms 2019 guaranty fund contributions , we have the right to assess all non-defaulting clearing members as defined in the rules governing the guaranty fund . ( 4 ) represents the aggregate minimum resources available to satisfy any obligations not met by a defaulting firm subsequent to the liquidation of the defaulting firm 2019s performance bond collateral. .

| | ( in millions ) | cme clearingavailable assets | |---:|:-----------------------------------------------------------------|:-------------------------------| | 0 | designated corporate contributions for futures and options ( 1 ) | $ 100.0 | | 1 | guaranty fund contributions ( 2 ) | 2899.5 | | 2 | assessment powers ( 3 ) | 7973.6 | | 3 | minimum total assets available for default ( 4 ) | $ 10973.1 |

2022 a financial safeguard package for cleared over-the-counter credit default swap contracts , and 2022 a financial safeguard package for cleared over-the-counter interest rate swap contracts . in the unlikely event of a payment default by a clearing firm , we would first apply assets of the defaulting clearing firm to satisfy its payment obligation . these assets include the defaulting firm 2019s guaranty fund contributions , performance bonds and any other available assets , such as assets required for membership and any associated trading rights . in addition , we would make a demand for payment pursuant to any applicable guarantee provided to us by the parent company of the clearing firm . thereafter , if the payment default remains unsatisfied , we would use the corporate contributions designated for the respective financial safeguard package . we would then use guaranty fund contributions of other clearing firms within the respective financial safeguard package and funds collected through an assessment against solvent clearing firms within the respective financial safeguard package to satisfy the deficit . we maintain a $ 5.0 billion 364-day multi-currency line of credit with a consortium of domestic and international banks to be used in certain situations by cme clearing . we have the option to request an increase in the line from $ 5.0 billion to $ 7.0 billion . we may use the proceeds to provide temporary liquidity in the unlikely event of a clearing firm default , in the event of a liquidity constraint or default by a depositary ( custodian of the collateral ) , or in the event of a temporary disruption with the payments systems that would delay payment of settlement variation between us and our clearing firms . the credit agreement requires us to pledge certain assets to the line of credit custodian prior to drawing on the line of credit . pledged assets may include clearing firm guaranty fund deposits held by us in the form of u.s . treasury or agency securities , as well as select money market mutual funds approved for our select interest earning facility ( ief ) programs . performance bond collateral of a defaulting clearing firm may also be used to secure a draw on the line . in addition to the 364-day multi- currency line of credit , we also have the option to use our $ 1.8 billion multi-currency revolving senior credit facility to provide liquidity for our clearing house in the unlikely event of default . aggregate performance bond deposits for clearing firms for all three cme financial safeguard packages was $ 86.8 billion , including $ 5.6 billion of cash performance bond deposits and $ 4.2 billion of letters of credit . a defaulting firm 2019s performance bond deposits can be used in the event of default of that clearing firm . the following shows the available assets at december 31 , 2012 in the event of a payment default by a clearing firm for the base financial safeguard package after first utilizing the defaulting firm 2019s available assets : ( in millions ) cme clearing available assets designated corporate contributions for futures and options ( 1 ) . . . . . . . . $ 100.0 guaranty fund contributions ( 2 ) . . . . . 2899.5 assessment powers ( 3 ) . . . . . . . . . . . . 7973.6 minimum total assets available for default ( 4 ) . . . . . . . . . . . . . . . . . . . . $ 10973.1 ( 1 ) cme clearing designates $ 100.0 million of corporate contributions to satisfy a clearing firm default in the event that the defaulting clearing firm 2019s guaranty contributions and performance bonds do not satisfy the deficit . ( 2 ) guaranty fund contributions of clearing firms include guaranty fund contributions required of clearing firms , but do not include any excess deposits held by us at the direction of clearing firms . ( 3 ) in the event of a clearing firm default , if a loss continues to exist after the utilization of the assets of the defaulted firm , our designated working capital and the non-defaulting clearing firms 2019 guaranty fund contributions , we have the right to assess all non-defaulting clearing members as defined in the rules governing the guaranty fund . ( 4 ) represents the aggregate minimum resources available to satisfy any obligations not met by a defaulting firm subsequent to the liquidation of the defaulting firm 2019s performance bond collateral. ._| | ( in millions ) | cme clearingavailable assets | |---:|:-----------------------------------------------------------------|:-------------------------------| | 0 | designated corporate contributions for futures and options ( 1 ) | $ 100.0 | | 1 | guaranty fund contributions ( 2 ) | 2899.5 | | 2 | assessment powers ( 3 ) | 7973.6 | | 3 | minimum total assets available for default ( 4 ) | $ 10973.1 |_2022 a financial safeguard package for cleared over-the-counter credit default swap contracts , and 2022 a financial safeguard package for cleared over-the-counter interest rate swap contracts . in the unlikely event of a payment default by a clearing firm , we would first apply assets of the defaulting clearing firm to satisfy its payment obligation . these assets include the defaulting firm 2019s guaranty fund contributions , performance bonds and any other available assets , such as assets required for membership and any associated trading rights . in addition , we would make a demand for payment pursuant to any applicable guarantee provided to us by the parent company of the clearing firm . thereafter , if the payment default remains unsatisfied , we would use the corporate contributions designated for the respective financial safeguard package . we would then use guaranty fund contributions of other clearing firms within the respective financial safeguard package and funds collected through an assessment against solvent clearing firms within the respective financial safeguard package to satisfy the deficit . we maintain a $ 5.0 billion 364-day multi-currency line of credit with a consortium of domestic and international banks to be used in certain situations by cme clearing . we have the option to request an increase in the line from $ 5.0 billion to $ 7.0 billion . we may use the proceeds to provide temporary liquidity in the unlikely event of a clearing firm default , in the event of a liquidity constraint or default by a depositary ( custodian of the collateral ) , or in the event of a temporary disruption with the payments systems that would delay payment of settlement variation between us and our clearing firms . the credit agreement requires us to pledge certain assets to the line of credit custodian prior to drawing on the line of credit . pledged assets may include clearing firm guaranty fund deposits held by us in the form of u.s . treasury or agency securities , as well as select money market mutual funds approved for our select interest earning facility ( ief ) programs . performance bond collateral of a defaulting clearing firm may also be used to secure a draw on the line . in addition to the 364-day multi- currency line of credit , we also have the option to use our $ 1.8 billion multi-currency revolving senior credit facility to provide liquidity for our clearing house in the unlikely event of default . aggregate performance bond deposits for clearing firms for all three cme financial safeguard packages was $ 86.8 billion , including $ 5.6 billion of cash performance bond deposits and $ 4.2 billion of letters of credit . a defaulting firm 2019s performance bond deposits can be used in the event of default of that clearing firm . the following shows the available assets at december 31 , 2012 in the event of a payment default by a clearing firm for the base financial safeguard package after first utilizing the defaulting firm 2019s available assets : ( in millions ) cme clearing available assets designated corporate contributions for futures and options ( 1 ) . . . . . . . . $ 100.0 guaranty fund contributions ( 2 ) . . . . . 2899.5 assessment powers ( 3 ) . . . . . . . . . . . . 7973.6 minimum total assets available for default ( 4 ) . . . . . . . . . . . . . . . . . . . . $ 10973.1 ( 1 ) cme clearing designates $ 100.0 million of corporate contributions to satisfy a clearing firm default in the event that the defaulting clearing firm 2019s guaranty contributions and performance bonds do not satisfy the deficit . ( 2 ) guaranty fund contributions of clearing firms include guaranty fund contributions required of clearing firms , but do not include any excess deposits held by us at the direction of clearing firms . ( 3 ) in the event of a clearing firm default , if a loss continues to exist after the utilization of the assets of the defaulted firm , our designated working capital and the non-defaulting clearing firms 2019 guaranty fund contributions , we have the right to assess all non-defaulting clearing members as defined in the rules governing the guaranty fund . ( 4 ) represents the aggregate minimum resources available to satisfy any obligations not met by a defaulting firm subsequent to the liquidation of the defaulting firm 2019s performance bond collateral. .

2,012

70

CME

CME Group

Financials

Financial Exchanges & Data

Chicago, Illinois

2006-08-11

1,156,375

1848

what was the percent of minimum total assets available for default that was guaranty fund contributions ( 2 )

26.4%

divide(2899.5, 10973.1)

2022 a financial safeguard package for cleared over-the-counter credit default swap contracts , and 2022 a financial safeguard package for cleared over-the-counter interest rate swap contracts . in the unlikely event of a payment default by a clearing firm , we would first apply assets of the defaulting clearing firm to satisfy its payment obligation . these assets include the defaulting firm 2019s guaranty fund contributions , performance bonds and any other available assets , such as assets required for membership and any associated trading rights . in addition , we would make a demand for payment pursuant to any applicable guarantee provided to us by the parent company of the clearing firm . thereafter , if the payment default remains unsatisfied , we would use the corporate contributions designated for the respective financial safeguard package . we would then use guaranty fund contributions of other clearing firms within the respective financial safeguard package and funds collected through an assessment against solvent clearing firms within the respective financial safeguard package to satisfy the deficit . we maintain a $ 5.0 billion 364-day multi-currency line of credit with a consortium of domestic and international banks to be used in certain situations by cme clearing . we have the option to request an increase in the line from $ 5.0 billion to $ 7.0 billion . we may use the proceeds to provide temporary liquidity in the unlikely event of a clearing firm default , in the event of a liquidity constraint or default by a depositary ( custodian of the collateral ) , or in the event of a temporary disruption with the payments systems that would delay payment of settlement variation between us and our clearing firms . the credit agreement requires us to pledge certain assets to the line of credit custodian prior to drawing on the line of credit . pledged assets may include clearing firm guaranty fund deposits held by us in the form of u.s . treasury or agency securities , as well as select money market mutual funds approved for our select interest earning facility ( ief ) programs . performance bond collateral of a defaulting clearing firm may also be used to secure a draw on the line . in addition to the 364-day multi- currency line of credit , we also have the option to use our $ 1.8 billion multi-currency revolving senior credit facility to provide liquidity for our clearing house in the unlikely event of default . aggregate performance bond deposits for clearing firms for all three cme financial safeguard packages was $ 86.8 billion , including $ 5.6 billion of cash performance bond deposits and $ 4.2 billion of letters of credit . a defaulting firm 2019s performance bond deposits can be used in the event of default of that clearing firm . the following shows the available assets at december 31 , 2012 in the event of a payment default by a clearing firm for the base financial safeguard package after first utilizing the defaulting firm 2019s available assets : ( in millions ) cme clearing available assets designated corporate contributions for futures and options ( 1 ) . . . . . . . . $ 100.0 guaranty fund contributions ( 2 ) . . . . . 2899.5 assessment powers ( 3 ) . . . . . . . . . . . . 7973.6 minimum total assets available for default ( 4 ) . . . . . . . . . . . . . . . . . . . . $ 10973.1 ( 1 ) cme clearing designates $ 100.0 million of corporate contributions to satisfy a clearing firm default in the event that the defaulting clearing firm 2019s guaranty contributions and performance bonds do not satisfy the deficit . ( 2 ) guaranty fund contributions of clearing firms include guaranty fund contributions required of clearing firms , but do not include any excess deposits held by us at the direction of clearing firms . ( 3 ) in the event of a clearing firm default , if a loss continues to exist after the utilization of the assets of the defaulted firm , our designated working capital and the non-defaulting clearing firms 2019 guaranty fund contributions , we have the right to assess all non-defaulting clearing members as defined in the rules governing the guaranty fund . ( 4 ) represents the aggregate minimum resources available to satisfy any obligations not met by a defaulting firm subsequent to the liquidation of the defaulting firm 2019s performance bond collateral. .

| | ( in millions ) | cme clearingavailable assets | |---:|:-----------------------------------------------------------------|:-------------------------------| | 0 | designated corporate contributions for futures and options ( 1 ) | $ 100.0 | | 1 | guaranty fund contributions ( 2 ) | 2899.5 | | 2 | assessment powers ( 3 ) | 7973.6 | | 3 | minimum total assets available for default ( 4 ) | $ 10973.1 |

2022 a financial safeguard package for cleared over-the-counter credit default swap contracts , and 2022 a financial safeguard package for cleared over-the-counter interest rate swap contracts . in the unlikely event of a payment default by a clearing firm , we would first apply assets of the defaulting clearing firm to satisfy its payment obligation . these assets include the defaulting firm 2019s guaranty fund contributions , performance bonds and any other available assets , such as assets required for membership and any associated trading rights . in addition , we would make a demand for payment pursuant to any applicable guarantee provided to us by the parent company of the clearing firm . thereafter , if the payment default remains unsatisfied , we would use the corporate contributions designated for the respective financial safeguard package . we would then use guaranty fund contributions of other clearing firms within the respective financial safeguard package and funds collected through an assessment against solvent clearing firms within the respective financial safeguard package to satisfy the deficit . we maintain a $ 5.0 billion 364-day multi-currency line of credit with a consortium of domestic and international banks to be used in certain situations by cme clearing . we have the option to request an increase in the line from $ 5.0 billion to $ 7.0 billion . we may use the proceeds to provide temporary liquidity in the unlikely event of a clearing firm default , in the event of a liquidity constraint or default by a depositary ( custodian of the collateral ) , or in the event of a temporary disruption with the payments systems that would delay payment of settlement variation between us and our clearing firms . the credit agreement requires us to pledge certain assets to the line of credit custodian prior to drawing on the line of credit . pledged assets may include clearing firm guaranty fund deposits held by us in the form of u.s . treasury or agency securities , as well as select money market mutual funds approved for our select interest earning facility ( ief ) programs . performance bond collateral of a defaulting clearing firm may also be used to secure a draw on the line . in addition to the 364-day multi- currency line of credit , we also have the option to use our $ 1.8 billion multi-currency revolving senior credit facility to provide liquidity for our clearing house in the unlikely event of default . aggregate performance bond deposits for clearing firms for all three cme financial safeguard packages was $ 86.8 billion , including $ 5.6 billion of cash performance bond deposits and $ 4.2 billion of letters of credit . a defaulting firm 2019s performance bond deposits can be used in the event of default of that clearing firm . the following shows the available assets at december 31 , 2012 in the event of a payment default by a clearing firm for the base financial safeguard package after first utilizing the defaulting firm 2019s available assets : ( in millions ) cme clearing available assets designated corporate contributions for futures and options ( 1 ) . . . . . . . . $ 100.0 guaranty fund contributions ( 2 ) . . . . . 2899.5 assessment powers ( 3 ) . . . . . . . . . . . . 7973.6 minimum total assets available for default ( 4 ) . . . . . . . . . . . . . . . . . . . . $ 10973.1 ( 1 ) cme clearing designates $ 100.0 million of corporate contributions to satisfy a clearing firm default in the event that the defaulting clearing firm 2019s guaranty contributions and performance bonds do not satisfy the deficit . ( 2 ) guaranty fund contributions of clearing firms include guaranty fund contributions required of clearing firms , but do not include any excess deposits held by us at the direction of clearing firms . ( 3 ) in the event of a clearing firm default , if a loss continues to exist after the utilization of the assets of the defaulted firm , our designated working capital and the non-defaulting clearing firms 2019 guaranty fund contributions , we have the right to assess all non-defaulting clearing members as defined in the rules governing the guaranty fund . ( 4 ) represents the aggregate minimum resources available to satisfy any obligations not met by a defaulting firm subsequent to the liquidation of the defaulting firm 2019s performance bond collateral. ._| | ( in millions ) | cme clearingavailable assets | |---:|:-----------------------------------------------------------------|:-------------------------------| | 0 | designated corporate contributions for futures and options ( 1 ) | $ 100.0 | | 1 | guaranty fund contributions ( 2 ) | 2899.5 | | 2 | assessment powers ( 3 ) | 7973.6 | | 3 | minimum total assets available for default ( 4 ) | $ 10973.1 |_2022 a financial safeguard package for cleared over-the-counter credit default swap contracts , and 2022 a financial safeguard package for cleared over-the-counter interest rate swap contracts . in the unlikely event of a payment default by a clearing firm , we would first apply assets of the defaulting clearing firm to satisfy its payment obligation . these assets include the defaulting firm 2019s guaranty fund contributions , performance bonds and any other available assets , such as assets required for membership and any associated trading rights . in addition , we would make a demand for payment pursuant to any applicable guarantee provided to us by the parent company of the clearing firm . thereafter , if the payment default remains unsatisfied , we would use the corporate contributions designated for the respective financial safeguard package . we would then use guaranty fund contributions of other clearing firms within the respective financial safeguard package and funds collected through an assessment against solvent clearing firms within the respective financial safeguard package to satisfy the deficit . we maintain a $ 5.0 billion 364-day multi-currency line of credit with a consortium of domestic and international banks to be used in certain situations by cme clearing . we have the option to request an increase in the line from $ 5.0 billion to $ 7.0 billion . we may use the proceeds to provide temporary liquidity in the unlikely event of a clearing firm default , in the event of a liquidity constraint or default by a depositary ( custodian of the collateral ) , or in the event of a temporary disruption with the payments systems that would delay payment of settlement variation between us and our clearing firms . the credit agreement requires us to pledge certain assets to the line of credit custodian prior to drawing on the line of credit . pledged assets may include clearing firm guaranty fund deposits held by us in the form of u.s . treasury or agency securities , as well as select money market mutual funds approved for our select interest earning facility ( ief ) programs . performance bond collateral of a defaulting clearing firm may also be used to secure a draw on the line . in addition to the 364-day multi- currency line of credit , we also have the option to use our $ 1.8 billion multi-currency revolving senior credit facility to provide liquidity for our clearing house in the unlikely event of default . aggregate performance bond deposits for clearing firms for all three cme financial safeguard packages was $ 86.8 billion , including $ 5.6 billion of cash performance bond deposits and $ 4.2 billion of letters of credit . a defaulting firm 2019s performance bond deposits can be used in the event of default of that clearing firm . the following shows the available assets at december 31 , 2012 in the event of a payment default by a clearing firm for the base financial safeguard package after first utilizing the defaulting firm 2019s available assets : ( in millions ) cme clearing available assets designated corporate contributions for futures and options ( 1 ) . . . . . . . . $ 100.0 guaranty fund contributions ( 2 ) . . . . . 2899.5 assessment powers ( 3 ) . . . . . . . . . . . . 7973.6 minimum total assets available for default ( 4 ) . . . . . . . . . . . . . . . . . . . . $ 10973.1 ( 1 ) cme clearing designates $ 100.0 million of corporate contributions to satisfy a clearing firm default in the event that the defaulting clearing firm 2019s guaranty contributions and performance bonds do not satisfy the deficit . ( 2 ) guaranty fund contributions of clearing firms include guaranty fund contributions required of clearing firms , but do not include any excess deposits held by us at the direction of clearing firms . ( 3 ) in the event of a clearing firm default , if a loss continues to exist after the utilization of the assets of the defaulted firm , our designated working capital and the non-defaulting clearing firms 2019 guaranty fund contributions , we have the right to assess all non-defaulting clearing members as defined in the rules governing the guaranty fund . ( 4 ) represents the aggregate minimum resources available to satisfy any obligations not met by a defaulting firm subsequent to the liquidation of the defaulting firm 2019s performance bond collateral. .

2,012

70

CME

CME Group

Financials

Financial Exchanges & Data

Chicago, Illinois

2006-08-11

1,156,375

1848

null

finqa259

considering the gaap basis , what was the growth observed in the effective tax rate during 2012 and 2013?

0.9%

subtract(22.8%, 21.9%)

shutdown . the customer , which primarily received products from the tonnage gases segment , filed for bankruptcy in may 2012 and announced the mill shutdown in august 2012 . pension settlement loss our u.s . supplemental pension plan provides for a lump sum benefit payment option at the time of retirement , or for corporate officers , six months after the retirement date . pension settlements are recognized when cash payments exceed the sum of the service and interest cost components of net periodic pension cost of the plan for the fiscal year . the participant 2019s vested benefit is considered fully settled upon cash payment of the lump sum . we recognized $ 12.4 of settlement charges in 2013 . advisory costs during the fourth quarter of 2013 , we incurred legal and other advisory fees of $ 10.1 ( $ 6.4 after-tax , or $ .03 per share ) in connection with our response to the rapid acquisition of a large position in shares of our common stock by pershing square capital management llc and its affiliates ( pershing square ) . these fees , which are reflected on the consolidated income statements as 201cadvisory costs , 201d include costs incurred before and after pershing square 2019s disclosure of its holdings and cover advisory services related to the adoption of the shareholders rights plan , preparation for a potential proxy solicitation campaign , and entering into an agreement with pershing square . other income ( expense ) , net items recorded to other income ( expense ) , net arise from transactions and events not directly related to our principal income earning activities . the detail of other income ( expense ) , net is presented in note 23 , supplemental information , to the consolidated financial statements . 2013 vs . 2012 other income ( expense ) , net of $ 70.2 increased $ 23.1 , primarily due to higher gains from the sale of a number of small assets and investments and a favorable commercial contract settlement , partially offset by lower government grants . otherwise , no individual items were significant in comparison to the prior year . 2012 vs . 2011 other income ( expense ) , net of $ 47.1 increased $ 5.4 , primarily due to favorable foreign exchange and reimbursements from government grants for expense , partially offset by lower gains from the sale of assets . otherwise , no individual items were significant in comparison to the prior year . interest expense .

2013 vs . 2012 interest incurred increased $ 13.7 . the increase was driven primarily by a higher average debt balance for $ 41 , partially offset by a lower average interest rate on the debt portfolio of $ 24 . the change in capitalized interest was driven by a decrease in project spending and a lower average interest rate . 2012 vs . 2011 interest incurred increased $ 15.7 . the increase was driven primarily by a higher average debt balance and debt issuance costs related to the indura s.a . acquisition , partially offset by the impact of a stronger dollar on the translation of foreign currency interest . the change in capitalized interest was driven by an increase in project spending which qualified for capitalization . effective tax rate the effective tax rate equals the income tax provision divided by income from continuing operations before taxes . refer to note 22 , income taxes , to the consolidated financial statements for details on factors affecting the effective tax rate . 2013 vs . 2012 on a gaap basis , the effective tax rate was 22.8% ( 22.8 % ) and 21.9% ( 21.9 % ) in 2013 and 2012 , respectively . the current year rate includes income tax benefits of $ 73.7 related to the business restructuring and cost reduction plans and $ 3.7 for the advisory costs . the prior year rate includes income tax benefits of $ 105.0 related to the business restructuring and cost reduction plans , $ 58.3 related to the second quarter spanish tax ruling , and $ 3.7 related to the customer .

| | | 2013 | 2012 | 2011 | |---:|:----------------------------|:--------|:--------|:--------| | 0 | interest incurred | $ 167.6 | $ 153.9 | $ 138.2 | | 1 | less : capitalized interest | 25.8 | 30.2 | 22.7 | | 2 | interest expense | $ 141.8 | $ 123.7 | $ 115.5 |

shutdown . the customer , which primarily received products from the tonnage gases segment , filed for bankruptcy in may 2012 and announced the mill shutdown in august 2012 . pension settlement loss our u.s . supplemental pension plan provides for a lump sum benefit payment option at the time of retirement , or for corporate officers , six months after the retirement date . pension settlements are recognized when cash payments exceed the sum of the service and interest cost components of net periodic pension cost of the plan for the fiscal year . the participant 2019s vested benefit is considered fully settled upon cash payment of the lump sum . we recognized $ 12.4 of settlement charges in 2013 . advisory costs during the fourth quarter of 2013 , we incurred legal and other advisory fees of $ 10.1 ( $ 6.4 after-tax , or $ .03 per share ) in connection with our response to the rapid acquisition of a large position in shares of our common stock by pershing square capital management llc and its affiliates ( pershing square ) . these fees , which are reflected on the consolidated income statements as 201cadvisory costs , 201d include costs incurred before and after pershing square 2019s disclosure of its holdings and cover advisory services related to the adoption of the shareholders rights plan , preparation for a potential proxy solicitation campaign , and entering into an agreement with pershing square . other income ( expense ) , net items recorded to other income ( expense ) , net arise from transactions and events not directly related to our principal income earning activities . the detail of other income ( expense ) , net is presented in note 23 , supplemental information , to the consolidated financial statements . 2013 vs . 2012 other income ( expense ) , net of $ 70.2 increased $ 23.1 , primarily due to higher gains from the sale of a number of small assets and investments and a favorable commercial contract settlement , partially offset by lower government grants . otherwise , no individual items were significant in comparison to the prior year . 2012 vs . 2011 other income ( expense ) , net of $ 47.1 increased $ 5.4 , primarily due to favorable foreign exchange and reimbursements from government grants for expense , partially offset by lower gains from the sale of assets . otherwise , no individual items were significant in comparison to the prior year . interest expense ._| | | 2013 | 2012 | 2011 | |---:|:----------------------------|:--------|:--------|:--------| | 0 | interest incurred | $ 167.6 | $ 153.9 | $ 138.2 | | 1 | less : capitalized interest | 25.8 | 30.2 | 22.7 | | 2 | interest expense | $ 141.8 | $ 123.7 | $ 115.5 |_2013 vs . 2012 interest incurred increased $ 13.7 . the increase was driven primarily by a higher average debt balance for $ 41 , partially offset by a lower average interest rate on the debt portfolio of $ 24 . the change in capitalized interest was driven by a decrease in project spending and a lower average interest rate . 2012 vs . 2011 interest incurred increased $ 15.7 . the increase was driven primarily by a higher average debt balance and debt issuance costs related to the indura s.a . acquisition , partially offset by the impact of a stronger dollar on the translation of foreign currency interest . the change in capitalized interest was driven by an increase in project spending which qualified for capitalization . effective tax rate the effective tax rate equals the income tax provision divided by income from continuing operations before taxes . refer to note 22 , income taxes , to the consolidated financial statements for details on factors affecting the effective tax rate . 2013 vs . 2012 on a gaap basis , the effective tax rate was 22.8% ( 22.8 % ) and 21.9% ( 21.9 % ) in 2013 and 2012 , respectively . the current year rate includes income tax benefits of $ 73.7 related to the business restructuring and cost reduction plans and $ 3.7 for the advisory costs . the prior year rate includes income tax benefits of $ 105.0 related to the business restructuring and cost reduction plans , $ 58.3 related to the second quarter spanish tax ruling , and $ 3.7 related to the customer .

2,013

32

APD

Air Products

Materials

Industrial Gases

Upper Macungie Township, Pennsylvania

1985-04-30

2,969

1940

considering the gaap basis , what was the growth observed in the effective tax rate during 2012 and 2013?

0.9%

subtract(22.8%, 21.9%)

shutdown . the customer , which primarily received products from the tonnage gases segment , filed for bankruptcy in may 2012 and announced the mill shutdown in august 2012 . pension settlement loss our u.s . supplemental pension plan provides for a lump sum benefit payment option at the time of retirement , or for corporate officers , six months after the retirement date . pension settlements are recognized when cash payments exceed the sum of the service and interest cost components of net periodic pension cost of the plan for the fiscal year . the participant 2019s vested benefit is considered fully settled upon cash payment of the lump sum . we recognized $ 12.4 of settlement charges in 2013 . advisory costs during the fourth quarter of 2013 , we incurred legal and other advisory fees of $ 10.1 ( $ 6.4 after-tax , or $ .03 per share ) in connection with our response to the rapid acquisition of a large position in shares of our common stock by pershing square capital management llc and its affiliates ( pershing square ) . these fees , which are reflected on the consolidated income statements as 201cadvisory costs , 201d include costs incurred before and after pershing square 2019s disclosure of its holdings and cover advisory services related to the adoption of the shareholders rights plan , preparation for a potential proxy solicitation campaign , and entering into an agreement with pershing square . other income ( expense ) , net items recorded to other income ( expense ) , net arise from transactions and events not directly related to our principal income earning activities . the detail of other income ( expense ) , net is presented in note 23 , supplemental information , to the consolidated financial statements . 2013 vs . 2012 other income ( expense ) , net of $ 70.2 increased $ 23.1 , primarily due to higher gains from the sale of a number of small assets and investments and a favorable commercial contract settlement , partially offset by lower government grants . otherwise , no individual items were significant in comparison to the prior year . 2012 vs . 2011 other income ( expense ) , net of $ 47.1 increased $ 5.4 , primarily due to favorable foreign exchange and reimbursements from government grants for expense , partially offset by lower gains from the sale of assets . otherwise , no individual items were significant in comparison to the prior year . interest expense .

2013 vs . 2012 interest incurred increased $ 13.7 . the increase was driven primarily by a higher average debt balance for $ 41 , partially offset by a lower average interest rate on the debt portfolio of $ 24 . the change in capitalized interest was driven by a decrease in project spending and a lower average interest rate . 2012 vs . 2011 interest incurred increased $ 15.7 . the increase was driven primarily by a higher average debt balance and debt issuance costs related to the indura s.a . acquisition , partially offset by the impact of a stronger dollar on the translation of foreign currency interest . the change in capitalized interest was driven by an increase in project spending which qualified for capitalization . effective tax rate the effective tax rate equals the income tax provision divided by income from continuing operations before taxes . refer to note 22 , income taxes , to the consolidated financial statements for details on factors affecting the effective tax rate . 2013 vs . 2012 on a gaap basis , the effective tax rate was 22.8% ( 22.8 % ) and 21.9% ( 21.9 % ) in 2013 and 2012 , respectively . the current year rate includes income tax benefits of $ 73.7 related to the business restructuring and cost reduction plans and $ 3.7 for the advisory costs . the prior year rate includes income tax benefits of $ 105.0 related to the business restructuring and cost reduction plans , $ 58.3 related to the second quarter spanish tax ruling , and $ 3.7 related to the customer .

| | | 2013 | 2012 | 2011 | |---:|:----------------------------|:--------|:--------|:--------| | 0 | interest incurred | $ 167.6 | $ 153.9 | $ 138.2 | | 1 | less : capitalized interest | 25.8 | 30.2 | 22.7 | | 2 | interest expense | $ 141.8 | $ 123.7 | $ 115.5 |

shutdown . the customer , which primarily received products from the tonnage gases segment , filed for bankruptcy in may 2012 and announced the mill shutdown in august 2012 . pension settlement loss our u.s . supplemental pension plan provides for a lump sum benefit payment option at the time of retirement , or for corporate officers , six months after the retirement date . pension settlements are recognized when cash payments exceed the sum of the service and interest cost components of net periodic pension cost of the plan for the fiscal year . the participant 2019s vested benefit is considered fully settled upon cash payment of the lump sum . we recognized $ 12.4 of settlement charges in 2013 . advisory costs during the fourth quarter of 2013 , we incurred legal and other advisory fees of $ 10.1 ( $ 6.4 after-tax , or $ .03 per share ) in connection with our response to the rapid acquisition of a large position in shares of our common stock by pershing square capital management llc and its affiliates ( pershing square ) . these fees , which are reflected on the consolidated income statements as 201cadvisory costs , 201d include costs incurred before and after pershing square 2019s disclosure of its holdings and cover advisory services related to the adoption of the shareholders rights plan , preparation for a potential proxy solicitation campaign , and entering into an agreement with pershing square . other income ( expense ) , net items recorded to other income ( expense ) , net arise from transactions and events not directly related to our principal income earning activities . the detail of other income ( expense ) , net is presented in note 23 , supplemental information , to the consolidated financial statements . 2013 vs . 2012 other income ( expense ) , net of $ 70.2 increased $ 23.1 , primarily due to higher gains from the sale of a number of small assets and investments and a favorable commercial contract settlement , partially offset by lower government grants . otherwise , no individual items were significant in comparison to the prior year . 2012 vs . 2011 other income ( expense ) , net of $ 47.1 increased $ 5.4 , primarily due to favorable foreign exchange and reimbursements from government grants for expense , partially offset by lower gains from the sale of assets . otherwise , no individual items were significant in comparison to the prior year . interest expense ._| | | 2013 | 2012 | 2011 | |---:|:----------------------------|:--------|:--------|:--------| | 0 | interest incurred | $ 167.6 | $ 153.9 | $ 138.2 | | 1 | less : capitalized interest | 25.8 | 30.2 | 22.7 | | 2 | interest expense | $ 141.8 | $ 123.7 | $ 115.5 |_2013 vs . 2012 interest incurred increased $ 13.7 . the increase was driven primarily by a higher average debt balance for $ 41 , partially offset by a lower average interest rate on the debt portfolio of $ 24 . the change in capitalized interest was driven by a decrease in project spending and a lower average interest rate . 2012 vs . 2011 interest incurred increased $ 15.7 . the increase was driven primarily by a higher average debt balance and debt issuance costs related to the indura s.a . acquisition , partially offset by the impact of a stronger dollar on the translation of foreign currency interest . the change in capitalized interest was driven by an increase in project spending which qualified for capitalization . effective tax rate the effective tax rate equals the income tax provision divided by income from continuing operations before taxes . refer to note 22 , income taxes , to the consolidated financial statements for details on factors affecting the effective tax rate . 2013 vs . 2012 on a gaap basis , the effective tax rate was 22.8% ( 22.8 % ) and 21.9% ( 21.9 % ) in 2013 and 2012 , respectively . the current year rate includes income tax benefits of $ 73.7 related to the business restructuring and cost reduction plans and $ 3.7 for the advisory costs . the prior year rate includes income tax benefits of $ 105.0 related to the business restructuring and cost reduction plans , $ 58.3 related to the second quarter spanish tax ruling , and $ 3.7 related to the customer .

2,013

32

APD

Air Products

Materials

Industrial Gases

Upper Macungie Township, Pennsylvania

1985-04-30

2,969

1940

null

finqa260

for the year ended december 302007 what was the net margin

4.7%

divide(17388, 366854)

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

for the year ended december 302007 what was the net margin

4.7%

divide(17388, 366854)

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

finqa261

what is the percentage increase in total accumulated other comprehensive losses from 2013 to 2014?

62.9%

divide(subtract(6826, 4190), 4190)

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 is the percentage increase in total accumulated other comprehensive losses from 2013 to 2014?

62.9%

divide(subtract(6826, 4190), 4190)

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

finqa262

what is the net change in net revenue during 2016 for entergy texas , inc.?

7

subtract(644.2, 637.2)

entergy texas , inc . and subsidiaries management 2019s financial discussion and analysis results of operations net income 2016 compared to 2015 net income increased $ 37.9 million primarily due to lower other operation and maintenance expenses , the asset write-off of its receivable associated with the spindletop gas storage facility in 2015 , and higher net revenue . 2015 compared to 2014 net income decreased $ 5.2 million primarily due to the asset write-off of its receivable associated with the spindletop gas storage facility and higher other operation and maintenance expenses , partially offset by higher net revenue and a lower effective tax rate . net revenue 2016 compared to 2015 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges . following is an analysis of the change in net revenue comparing 2016 to 2015 . amount ( in millions ) .

the reserve equalization variance is primarily due to a reduction in reserve equalization expense primarily due to changes in the entergy system generation mix compared to the same period in 2015 as a result of the execution of a new purchased power agreement and entergy mississippi 2019s exit from the system agreement , each in november 2015 , and entergy texas 2019s exit from the system agreement in august 2016 . see note 2 to the financial statements for a discussion of the system agreement . the purchased power capacity variance is primarily due to decreased expenses due to the termination of the purchased power agreements between entergy louisiana and entergy texas in august 2016 , as well as capacity cost changes for ongoing purchased power capacity contracts . the transmission revenue variance is primarily due to an increase in attachment o rates charged by miso to transmission customers and a settlement of attachment o rates previously billed to transmission customers by miso. .

| | | amount ( in millions ) | |---:|:-------------------------|:-------------------------| | 0 | 2015 net revenue | $ 637.2 | | 1 | reserve equalization | 14.3 | | 2 | purchased power capacity | 12.4 | | 3 | transmission revenue | 7.0 | | 4 | retail electric price | 5.4 | | 5 | net wholesale | -27.8 ( 27.8 ) | | 6 | other | -4.3 ( 4.3 ) | | 7 | 2016 net revenue | $ 644.2 |

entergy texas , inc . and subsidiaries management 2019s financial discussion and analysis results of operations net income 2016 compared to 2015 net income increased $ 37.9 million primarily due to lower other operation and maintenance expenses , the asset write-off of its receivable associated with the spindletop gas storage facility in 2015 , and higher net revenue . 2015 compared to 2014 net income decreased $ 5.2 million primarily due to the asset write-off of its receivable associated with the spindletop gas storage facility and higher other operation and maintenance expenses , partially offset by higher net revenue and a lower effective tax rate . net revenue 2016 compared to 2015 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges . following is an analysis of the change in net revenue comparing 2016 to 2015 . amount ( in millions ) ._| | | amount ( in millions ) | |---:|:-------------------------|:-------------------------| | 0 | 2015 net revenue | $ 637.2 | | 1 | reserve equalization | 14.3 | | 2 | purchased power capacity | 12.4 | | 3 | transmission revenue | 7.0 | | 4 | retail electric price | 5.4 | | 5 | net wholesale | -27.8 ( 27.8 ) | | 6 | other | -4.3 ( 4.3 ) | | 7 | 2016 net revenue | $ 644.2 |_the reserve equalization variance is primarily due to a reduction in reserve equalization expense primarily due to changes in the entergy system generation mix compared to the same period in 2015 as a result of the execution of a new purchased power agreement and entergy mississippi 2019s exit from the system agreement , each in november 2015 , and entergy texas 2019s exit from the system agreement in august 2016 . see note 2 to the financial statements for a discussion of the system agreement . the purchased power capacity variance is primarily due to decreased expenses due to the termination of the purchased power agreements between entergy louisiana and entergy texas in august 2016 , as well as capacity cost changes for ongoing purchased power capacity contracts . the transmission revenue variance is primarily due to an increase in attachment o rates charged by miso to transmission customers and a settlement of attachment o rates previously billed to transmission customers by miso. .

2,016

418

ETR

Entergy

Utilities

Electric Utilities

New Orleans, Louisiana

1957-03-04

65,984

1913

what is the net change in net revenue during 2016 for entergy texas , inc.?

7

subtract(644.2, 637.2)

entergy texas , inc . and subsidiaries management 2019s financial discussion and analysis results of operations net income 2016 compared to 2015 net income increased $ 37.9 million primarily due to lower other operation and maintenance expenses , the asset write-off of its receivable associated with the spindletop gas storage facility in 2015 , and higher net revenue . 2015 compared to 2014 net income decreased $ 5.2 million primarily due to the asset write-off of its receivable associated with the spindletop gas storage facility and higher other operation and maintenance expenses , partially offset by higher net revenue and a lower effective tax rate . net revenue 2016 compared to 2015 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges . following is an analysis of the change in net revenue comparing 2016 to 2015 . amount ( in millions ) .

the reserve equalization variance is primarily due to a reduction in reserve equalization expense primarily due to changes in the entergy system generation mix compared to the same period in 2015 as a result of the execution of a new purchased power agreement and entergy mississippi 2019s exit from the system agreement , each in november 2015 , and entergy texas 2019s exit from the system agreement in august 2016 . see note 2 to the financial statements for a discussion of the system agreement . the purchased power capacity variance is primarily due to decreased expenses due to the termination of the purchased power agreements between entergy louisiana and entergy texas in august 2016 , as well as capacity cost changes for ongoing purchased power capacity contracts . the transmission revenue variance is primarily due to an increase in attachment o rates charged by miso to transmission customers and a settlement of attachment o rates previously billed to transmission customers by miso. .

| | | amount ( in millions ) | |---:|:-------------------------|:-------------------------| | 0 | 2015 net revenue | $ 637.2 | | 1 | reserve equalization | 14.3 | | 2 | purchased power capacity | 12.4 | | 3 | transmission revenue | 7.0 | | 4 | retail electric price | 5.4 | | 5 | net wholesale | -27.8 ( 27.8 ) | | 6 | other | -4.3 ( 4.3 ) | | 7 | 2016 net revenue | $ 644.2 |

entergy texas , inc . and subsidiaries management 2019s financial discussion and analysis results of operations net income 2016 compared to 2015 net income increased $ 37.9 million primarily due to lower other operation and maintenance expenses , the asset write-off of its receivable associated with the spindletop gas storage facility in 2015 , and higher net revenue . 2015 compared to 2014 net income decreased $ 5.2 million primarily due to the asset write-off of its receivable associated with the spindletop gas storage facility and higher other operation and maintenance expenses , partially offset by higher net revenue and a lower effective tax rate . net revenue 2016 compared to 2015 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges . following is an analysis of the change in net revenue comparing 2016 to 2015 . amount ( in millions ) ._| | | amount ( in millions ) | |---:|:-------------------------|:-------------------------| | 0 | 2015 net revenue | $ 637.2 | | 1 | reserve equalization | 14.3 | | 2 | purchased power capacity | 12.4 | | 3 | transmission revenue | 7.0 | | 4 | retail electric price | 5.4 | | 5 | net wholesale | -27.8 ( 27.8 ) | | 6 | other | -4.3 ( 4.3 ) | | 7 | 2016 net revenue | $ 644.2 |_the reserve equalization variance is primarily due to a reduction in reserve equalization expense primarily due to changes in the entergy system generation mix compared to the same period in 2015 as a result of the execution of a new purchased power agreement and entergy mississippi 2019s exit from the system agreement , each in november 2015 , and entergy texas 2019s exit from the system agreement in august 2016 . see note 2 to the financial statements for a discussion of the system agreement . the purchased power capacity variance is primarily due to decreased expenses due to the termination of the purchased power agreements between entergy louisiana and entergy texas in august 2016 , as well as capacity cost changes for ongoing purchased power capacity contracts . the transmission revenue variance is primarily due to an increase in attachment o rates charged by miso to transmission customers and a settlement of attachment o rates previously billed to transmission customers by miso. .

2,016

418

ETR

Entergy

Utilities

Electric Utilities

New Orleans, Louisiana

1957-03-04

65,984

1913

null

finqa263

what was the percentage cumulative 5-year total stockholder return for cadence design systems inc . for the period ending 12/29/2018?

211.13%

divide(subtract(311.13, const_100), const_100)

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 was the percentage cumulative 5-year total stockholder return for cadence design systems inc . for the period ending 12/29/2018?

211.13%

divide(subtract(311.13, const_100), const_100)

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

finqa264

what was the ratio of the snap-on 2019s performance to that of the standard & poor 2019s 500 stock index in 2012

1.72

divide(187.26, 108.59)

five-year stock performance graph the graph below illustrates the cumulative total shareholder return on snap-on common stock since december 31 , 2007 , assuming that dividends were reinvested . the graph compares snap-on 2019s performance to that of the standard & poor 2019s 500 stock index ( 201cs&p 500 201d ) and a peer group . snap-on incorporated total shareholder return ( 1 ) fiscal year ended ( 2 ) snap-on incorporated peer group ( 3 ) s&p 500 .

( 1 ) assumes $ 100 was invested on december 31 , 2007 , and that dividends were reinvested quarterly . ( 2 ) the company's fiscal year ends on the saturday that is on or nearest to december 31 of each year ; for ease of calculation , the fiscal year end is assumed to be december 31 . ( 3 ) the peer group consists of : stanley black & decker , inc. , danaher corporation , emerson electric co. , genuine parts company , newell rubbermaid inc. , pentair ltd. , spx corporation and w.w . grainger , inc . cooper industries plc , a former member of the peer group , was removed , as it was acquired by a larger , non-comparable company in 2012 . 2012 annual report 23 snap-on incorporated peer group s&p 500 2007 2008 201120102009 2012 .

| | fiscal year ended ( 2 ) | snap-onincorporated | peer group ( 3 ) | s&p 500 | |---:|:--------------------------|:----------------------|:-------------------|:----------| | 0 | december 31 2007 | $ 100.00 | $ 100.00 | $ 100.00 | | 1 | december 31 2008 | 83.66 | 66.15 | 63.00 | | 2 | december 31 2009 | 93.20 | 84.12 | 79.67 | | 3 | december 31 2010 | 128.21 | 112.02 | 91.67 | | 4 | december 31 2011 | 117.47 | 109.70 | 93.61 | | 5 | december 31 2012 | 187.26 | 129.00 | 108.59 |

five-year stock performance graph the graph below illustrates the cumulative total shareholder return on snap-on common stock since december 31 , 2007 , assuming that dividends were reinvested . the graph compares snap-on 2019s performance to that of the standard & poor 2019s 500 stock index ( 201cs&p 500 201d ) and a peer group . snap-on incorporated total shareholder return ( 1 ) fiscal year ended ( 2 ) snap-on incorporated peer group ( 3 ) s&p 500 ._| | fiscal year ended ( 2 ) | snap-onincorporated | peer group ( 3 ) | s&p 500 | |---:|:--------------------------|:----------------------|:-------------------|:----------| | 0 | december 31 2007 | $ 100.00 | $ 100.00 | $ 100.00 | | 1 | december 31 2008 | 83.66 | 66.15 | 63.00 | | 2 | december 31 2009 | 93.20 | 84.12 | 79.67 | | 3 | december 31 2010 | 128.21 | 112.02 | 91.67 | | 4 | december 31 2011 | 117.47 | 109.70 | 93.61 | | 5 | december 31 2012 | 187.26 | 129.00 | 108.59 |_( 1 ) assumes $ 100 was invested on december 31 , 2007 , and that dividends were reinvested quarterly . ( 2 ) the company's fiscal year ends on the saturday that is on or nearest to december 31 of each year ; for ease of calculation , the fiscal year end is assumed to be december 31 . ( 3 ) the peer group consists of : stanley black & decker , inc. , danaher corporation , emerson electric co. , genuine parts company , newell rubbermaid inc. , pentair ltd. , spx corporation and w.w . grainger , inc . cooper industries plc , a former member of the peer group , was removed , as it was acquired by a larger , non-comparable company in 2012 . 2012 annual report 23 snap-on incorporated peer group s&p 500 2007 2008 201120102009 2012 .

2,012

33

SNA

Snap-on

Industrials

Industrial Machinery & Supplies & Components

Kenosha, Wisconsin

1982-09-30

91,440

1920

what was the ratio of the snap-on 2019s performance to that of the standard & poor 2019s 500 stock index in 2012

1.72

divide(187.26, 108.59)

five-year stock performance graph the graph below illustrates the cumulative total shareholder return on snap-on common stock since december 31 , 2007 , assuming that dividends were reinvested . the graph compares snap-on 2019s performance to that of the standard & poor 2019s 500 stock index ( 201cs&p 500 201d ) and a peer group . snap-on incorporated total shareholder return ( 1 ) fiscal year ended ( 2 ) snap-on incorporated peer group ( 3 ) s&p 500 .

( 1 ) assumes $ 100 was invested on december 31 , 2007 , and that dividends were reinvested quarterly . ( 2 ) the company's fiscal year ends on the saturday that is on or nearest to december 31 of each year ; for ease of calculation , the fiscal year end is assumed to be december 31 . ( 3 ) the peer group consists of : stanley black & decker , inc. , danaher corporation , emerson electric co. , genuine parts company , newell rubbermaid inc. , pentair ltd. , spx corporation and w.w . grainger , inc . cooper industries plc , a former member of the peer group , was removed , as it was acquired by a larger , non-comparable company in 2012 . 2012 annual report 23 snap-on incorporated peer group s&p 500 2007 2008 201120102009 2012 .

| | fiscal year ended ( 2 ) | snap-onincorporated | peer group ( 3 ) | s&p 500 | |---:|:--------------------------|:----------------------|:-------------------|:----------| | 0 | december 31 2007 | $ 100.00 | $ 100.00 | $ 100.00 | | 1 | december 31 2008 | 83.66 | 66.15 | 63.00 | | 2 | december 31 2009 | 93.20 | 84.12 | 79.67 | | 3 | december 31 2010 | 128.21 | 112.02 | 91.67 | | 4 | december 31 2011 | 117.47 | 109.70 | 93.61 | | 5 | december 31 2012 | 187.26 | 129.00 | 108.59 |

five-year stock performance graph the graph below illustrates the cumulative total shareholder return on snap-on common stock since december 31 , 2007 , assuming that dividends were reinvested . the graph compares snap-on 2019s performance to that of the standard & poor 2019s 500 stock index ( 201cs&p 500 201d ) and a peer group . snap-on incorporated total shareholder return ( 1 ) fiscal year ended ( 2 ) snap-on incorporated peer group ( 3 ) s&p 500 ._| | fiscal year ended ( 2 ) | snap-onincorporated | peer group ( 3 ) | s&p 500 | |---:|:--------------------------|:----------------------|:-------------------|:----------| | 0 | december 31 2007 | $ 100.00 | $ 100.00 | $ 100.00 | | 1 | december 31 2008 | 83.66 | 66.15 | 63.00 | | 2 | december 31 2009 | 93.20 | 84.12 | 79.67 | | 3 | december 31 2010 | 128.21 | 112.02 | 91.67 | | 4 | december 31 2011 | 117.47 | 109.70 | 93.61 | | 5 | december 31 2012 | 187.26 | 129.00 | 108.59 |_( 1 ) assumes $ 100 was invested on december 31 , 2007 , and that dividends were reinvested quarterly . ( 2 ) the company's fiscal year ends on the saturday that is on or nearest to december 31 of each year ; for ease of calculation , the fiscal year end is assumed to be december 31 . ( 3 ) the peer group consists of : stanley black & decker , inc. , danaher corporation , emerson electric co. , genuine parts company , newell rubbermaid inc. , pentair ltd. , spx corporation and w.w . grainger , inc . cooper industries plc , a former member of the peer group , was removed , as it was acquired by a larger , non-comparable company in 2012 . 2012 annual report 23 snap-on incorporated peer group s&p 500 2007 2008 201120102009 2012 .

2,012

33

SNA

Snap-on

Industrials

Industrial Machinery & Supplies & Components

Kenosha, Wisconsin

1982-09-30

91,440

1920

null

finqa265

what was the total revenues in 2009 based on the consulting segment generated 17% ( 17 % ) of our consolidated total revenues in millions

7452.94

divide(1267, 17%)

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)

what was the total revenues in 2009 based on the consulting segment generated 17% ( 17 % ) of our consolidated total revenues in millions

7452.94

divide(1267, 17%)

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

finqa266

what is the percentage of allowance of the company's purchased distressed loan portfolio at december 31 , 2010?

16%

divide(77, add(392, 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 .

( 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

what is the percentage of allowance of the company's purchased distressed loan portfolio at december 31 , 2010?

16%

divide(77, add(392, 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 .

( 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

finqa267

what would the investment income ( loss ) have been in 2015 without the gain from the sale of shares of arris group common stock in 2014?

-73

subtract(81, 154)

consolidated other income ( expense ) items , net .

interest expense interest expense increased in 2015 primarily due to an increase in our debt outstanding and $ 47 million of additional interest expense associated with the early redemption in june 2015 of our $ 750 million aggregate principal amount of 5.85% ( 5.85 % ) senior notes due november 2015 and our $ 1.0 billion aggregate principal amount of 5.90% ( 5.90 % ) senior notes due march 2016 . interest expense increased in 2014 primarily due to the effect of our interest rate derivative financial instruments . investment income ( loss ) , net the change in investment income ( loss ) , net in 2015 was primarily due to a $ 154 million gain related to the sale of our shares of arris group common stock in 2014 . the change in investment income ( loss ) , net in 2014 was primarily due to a $ 443 million gain related to the sale of our investment in clearwire corporation in 2013 . the components of investment income ( loss ) , net are presented in a table in note 7 to comcast 2019s consolidated financial statements . equity in net income ( losses ) of investees , net the change in equity in net income ( losses ) of investees , net in 2015 was primarily due to twcc holding corp . ( 201cthe weather channel 201d ) recording impairment charges related to goodwill . we recorded expenses of $ 333 million in 2015 that represent nbcuniversal 2019s proportionate share of these impairment charges . the change in 2015 was also due to an increase in our proportionate share of losses in hulu , llc ( 201chulu 201d ) , which were driven by hulu 2019s higher programming and marketing costs . in 2015 and 2014 , we recognized our pro- portionate share of losses of $ 106 million and $ 20 million , respectively , related to our investment in hulu . the change in equity in net income ( losses ) of investees , net in 2014 was primarily due to $ 142 million of total equity losses recorded in 2013 attributable to our investment in hulu . in july 2013 , we entered into an agreement to provide capital contributions totaling $ 247 million to hulu , which we had previously accounted for as a cost method investment . this represented an agreement to provide our first capital contribution to hulu since we acquired our interest in it as part of our acquisition of a controlling interest in nbcuniversal in 2011 ( the 201cnbcuniversal transaction 201d ) ; therefore , we began to apply the equity method of accounting for this investment . the change in the method of accounting for this investment required us to recognize our propor- tionate share of hulu 2019s accumulated losses from the date of the nbcuniversal transaction through july 2013 . other income ( expense ) , net other income ( expense ) , net for 2015 included gains of $ 335 million on the sales of a business and an invest- ment , $ 240 million recorded on the settlement of a contingent consideration liability with general electric company ( 201cge 201d ) related to the acquisition of nbcuniversal , and $ 43 million related to an equity method investment . these gains were partially offset by $ 236 million of expenses related to fair value adjustments to a contractual obligation . see note 11 to comcast 2019s consolidated financial statements for additional information on this contractual obligation . other income ( expense ) , net for 2014 included a $ 27 million favorable settlement of a contingency related to the at&t broadband transaction in 2002 , which was more than offset by $ 208 million of expenses related to 61 comcast 2015 annual report on form 10-k .

| | year ended december 31 ( in millions ) | 2015 | 2014 | 2013 | |---:|:-------------------------------------------------|:-----------------|:-----------------|:-----------------| | 0 | interest expense | $ -2702 ( 2702 ) | $ -2617 ( 2617 ) | $ -2574 ( 2574 ) | | 1 | investment income ( loss ) net | 81 | 296 | 576 | | 2 | equity in net income ( losses ) of investees net | -325 ( 325 ) | 97 | -86 ( 86 ) | | 3 | other income ( expense ) net | 320 | -215 ( 215 ) | -364 ( 364 ) | | 4 | total | $ -2626 ( 2626 ) | $ -2439 ( 2439 ) | $ -2448 ( 2448 ) |

consolidated other income ( expense ) items , net ._| | year ended december 31 ( in millions ) | 2015 | 2014 | 2013 | |---:|:-------------------------------------------------|:-----------------|:-----------------|:-----------------| | 0 | interest expense | $ -2702 ( 2702 ) | $ -2617 ( 2617 ) | $ -2574 ( 2574 ) | | 1 | investment income ( loss ) net | 81 | 296 | 576 | | 2 | equity in net income ( losses ) of investees net | -325 ( 325 ) | 97 | -86 ( 86 ) | | 3 | other income ( expense ) net | 320 | -215 ( 215 ) | -364 ( 364 ) | | 4 | total | $ -2626 ( 2626 ) | $ -2439 ( 2439 ) | $ -2448 ( 2448 ) |_interest expense interest expense increased in 2015 primarily due to an increase in our debt outstanding and $ 47 million of additional interest expense associated with the early redemption in june 2015 of our $ 750 million aggregate principal amount of 5.85% ( 5.85 % ) senior notes due november 2015 and our $ 1.0 billion aggregate principal amount of 5.90% ( 5.90 % ) senior notes due march 2016 . interest expense increased in 2014 primarily due to the effect of our interest rate derivative financial instruments . investment income ( loss ) , net the change in investment income ( loss ) , net in 2015 was primarily due to a $ 154 million gain related to the sale of our shares of arris group common stock in 2014 . the change in investment income ( loss ) , net in 2014 was primarily due to a $ 443 million gain related to the sale of our investment in clearwire corporation in 2013 . the components of investment income ( loss ) , net are presented in a table in note 7 to comcast 2019s consolidated financial statements . equity in net income ( losses ) of investees , net the change in equity in net income ( losses ) of investees , net in 2015 was primarily due to twcc holding corp . ( 201cthe weather channel 201d ) recording impairment charges related to goodwill . we recorded expenses of $ 333 million in 2015 that represent nbcuniversal 2019s proportionate share of these impairment charges . the change in 2015 was also due to an increase in our proportionate share of losses in hulu , llc ( 201chulu 201d ) , which were driven by hulu 2019s higher programming and marketing costs . in 2015 and 2014 , we recognized our pro- portionate share of losses of $ 106 million and $ 20 million , respectively , related to our investment in hulu . the change in equity in net income ( losses ) of investees , net in 2014 was primarily due to $ 142 million of total equity losses recorded in 2013 attributable to our investment in hulu . in july 2013 , we entered into an agreement to provide capital contributions totaling $ 247 million to hulu , which we had previously accounted for as a cost method investment . this represented an agreement to provide our first capital contribution to hulu since we acquired our interest in it as part of our acquisition of a controlling interest in nbcuniversal in 2011 ( the 201cnbcuniversal transaction 201d ) ; therefore , we began to apply the equity method of accounting for this investment . the change in the method of accounting for this investment required us to recognize our propor- tionate share of hulu 2019s accumulated losses from the date of the nbcuniversal transaction through july 2013 . other income ( expense ) , net other income ( expense ) , net for 2015 included gains of $ 335 million on the sales of a business and an invest- ment , $ 240 million recorded on the settlement of a contingent consideration liability with general electric company ( 201cge 201d ) related to the acquisition of nbcuniversal , and $ 43 million related to an equity method investment . these gains were partially offset by $ 236 million of expenses related to fair value adjustments to a contractual obligation . see note 11 to comcast 2019s consolidated financial statements for additional information on this contractual obligation . other income ( expense ) , net for 2014 included a $ 27 million favorable settlement of a contingency related to the at&t broadband transaction in 2002 , which was more than offset by $ 208 million of expenses related to 61 comcast 2015 annual report on form 10-k .

2,015

64

CMCSA

Comcast

Communication Services

Cable & Satellite

Philadelphia, Pennsylvania

2002-11-19

1,166,691

1963

what would the investment income ( loss ) have been in 2015 without the gain from the sale of shares of arris group common stock in 2014?

-73

subtract(81, 154)

consolidated other income ( expense ) items , net .

interest expense interest expense increased in 2015 primarily due to an increase in our debt outstanding and $ 47 million of additional interest expense associated with the early redemption in june 2015 of our $ 750 million aggregate principal amount of 5.85% ( 5.85 % ) senior notes due november 2015 and our $ 1.0 billion aggregate principal amount of 5.90% ( 5.90 % ) senior notes due march 2016 . interest expense increased in 2014 primarily due to the effect of our interest rate derivative financial instruments . investment income ( loss ) , net the change in investment income ( loss ) , net in 2015 was primarily due to a $ 154 million gain related to the sale of our shares of arris group common stock in 2014 . the change in investment income ( loss ) , net in 2014 was primarily due to a $ 443 million gain related to the sale of our investment in clearwire corporation in 2013 . the components of investment income ( loss ) , net are presented in a table in note 7 to comcast 2019s consolidated financial statements . equity in net income ( losses ) of investees , net the change in equity in net income ( losses ) of investees , net in 2015 was primarily due to twcc holding corp . ( 201cthe weather channel 201d ) recording impairment charges related to goodwill . we recorded expenses of $ 333 million in 2015 that represent nbcuniversal 2019s proportionate share of these impairment charges . the change in 2015 was also due to an increase in our proportionate share of losses in hulu , llc ( 201chulu 201d ) , which were driven by hulu 2019s higher programming and marketing costs . in 2015 and 2014 , we recognized our pro- portionate share of losses of $ 106 million and $ 20 million , respectively , related to our investment in hulu . the change in equity in net income ( losses ) of investees , net in 2014 was primarily due to $ 142 million of total equity losses recorded in 2013 attributable to our investment in hulu . in july 2013 , we entered into an agreement to provide capital contributions totaling $ 247 million to hulu , which we had previously accounted for as a cost method investment . this represented an agreement to provide our first capital contribution to hulu since we acquired our interest in it as part of our acquisition of a controlling interest in nbcuniversal in 2011 ( the 201cnbcuniversal transaction 201d ) ; therefore , we began to apply the equity method of accounting for this investment . the change in the method of accounting for this investment required us to recognize our propor- tionate share of hulu 2019s accumulated losses from the date of the nbcuniversal transaction through july 2013 . other income ( expense ) , net other income ( expense ) , net for 2015 included gains of $ 335 million on the sales of a business and an invest- ment , $ 240 million recorded on the settlement of a contingent consideration liability with general electric company ( 201cge 201d ) related to the acquisition of nbcuniversal , and $ 43 million related to an equity method investment . these gains were partially offset by $ 236 million of expenses related to fair value adjustments to a contractual obligation . see note 11 to comcast 2019s consolidated financial statements for additional information on this contractual obligation . other income ( expense ) , net for 2014 included a $ 27 million favorable settlement of a contingency related to the at&t broadband transaction in 2002 , which was more than offset by $ 208 million of expenses related to 61 comcast 2015 annual report on form 10-k .

| | year ended december 31 ( in millions ) | 2015 | 2014 | 2013 | |---:|:-------------------------------------------------|:-----------------|:-----------------|:-----------------| | 0 | interest expense | $ -2702 ( 2702 ) | $ -2617 ( 2617 ) | $ -2574 ( 2574 ) | | 1 | investment income ( loss ) net | 81 | 296 | 576 | | 2 | equity in net income ( losses ) of investees net | -325 ( 325 ) | 97 | -86 ( 86 ) | | 3 | other income ( expense ) net | 320 | -215 ( 215 ) | -364 ( 364 ) | | 4 | total | $ -2626 ( 2626 ) | $ -2439 ( 2439 ) | $ -2448 ( 2448 ) |

consolidated other income ( expense ) items , net ._| | year ended december 31 ( in millions ) | 2015 | 2014 | 2013 | |---:|:-------------------------------------------------|:-----------------|:-----------------|:-----------------| | 0 | interest expense | $ -2702 ( 2702 ) | $ -2617 ( 2617 ) | $ -2574 ( 2574 ) | | 1 | investment income ( loss ) net | 81 | 296 | 576 | | 2 | equity in net income ( losses ) of investees net | -325 ( 325 ) | 97 | -86 ( 86 ) | | 3 | other income ( expense ) net | 320 | -215 ( 215 ) | -364 ( 364 ) | | 4 | total | $ -2626 ( 2626 ) | $ -2439 ( 2439 ) | $ -2448 ( 2448 ) |_interest expense interest expense increased in 2015 primarily due to an increase in our debt outstanding and $ 47 million of additional interest expense associated with the early redemption in june 2015 of our $ 750 million aggregate principal amount of 5.85% ( 5.85 % ) senior notes due november 2015 and our $ 1.0 billion aggregate principal amount of 5.90% ( 5.90 % ) senior notes due march 2016 . interest expense increased in 2014 primarily due to the effect of our interest rate derivative financial instruments . investment income ( loss ) , net the change in investment income ( loss ) , net in 2015 was primarily due to a $ 154 million gain related to the sale of our shares of arris group common stock in 2014 . the change in investment income ( loss ) , net in 2014 was primarily due to a $ 443 million gain related to the sale of our investment in clearwire corporation in 2013 . the components of investment income ( loss ) , net are presented in a table in note 7 to comcast 2019s consolidated financial statements . equity in net income ( losses ) of investees , net the change in equity in net income ( losses ) of investees , net in 2015 was primarily due to twcc holding corp . ( 201cthe weather channel 201d ) recording impairment charges related to goodwill . we recorded expenses of $ 333 million in 2015 that represent nbcuniversal 2019s proportionate share of these impairment charges . the change in 2015 was also due to an increase in our proportionate share of losses in hulu , llc ( 201chulu 201d ) , which were driven by hulu 2019s higher programming and marketing costs . in 2015 and 2014 , we recognized our pro- portionate share of losses of $ 106 million and $ 20 million , respectively , related to our investment in hulu . the change in equity in net income ( losses ) of investees , net in 2014 was primarily due to $ 142 million of total equity losses recorded in 2013 attributable to our investment in hulu . in july 2013 , we entered into an agreement to provide capital contributions totaling $ 247 million to hulu , which we had previously accounted for as a cost method investment . this represented an agreement to provide our first capital contribution to hulu since we acquired our interest in it as part of our acquisition of a controlling interest in nbcuniversal in 2011 ( the 201cnbcuniversal transaction 201d ) ; therefore , we began to apply the equity method of accounting for this investment . the change in the method of accounting for this investment required us to recognize our propor- tionate share of hulu 2019s accumulated losses from the date of the nbcuniversal transaction through july 2013 . other income ( expense ) , net other income ( expense ) , net for 2015 included gains of $ 335 million on the sales of a business and an invest- ment , $ 240 million recorded on the settlement of a contingent consideration liability with general electric company ( 201cge 201d ) related to the acquisition of nbcuniversal , and $ 43 million related to an equity method investment . these gains were partially offset by $ 236 million of expenses related to fair value adjustments to a contractual obligation . see note 11 to comcast 2019s consolidated financial statements for additional information on this contractual obligation . other income ( expense ) , net for 2014 included a $ 27 million favorable settlement of a contingency related to the at&t broadband transaction in 2002 , which was more than offset by $ 208 million of expenses related to 61 comcast 2015 annual report on form 10-k .

2,015

64

CMCSA

Comcast

Communication Services

Cable & Satellite

Philadelphia, Pennsylvania

2002-11-19

1,166,691

1963

null

finqa268

what is the current ratio of robert mondavi?

1.7

divide(513782, 310919)

c o n s t e l l a t i o n b r a n d s , i n c . baroness philippine de rothschild announced an agree- ment to maintain equal ownership of opus one . opus one produces fine wines at its napa valley winery . the acquisition of robert mondavi supports the com- pany 2019s strategy of strengthening the breadth of its portfolio across price segments to capitalize on the overall growth in the premium , super-premium and fine wine categories . the company believes that the acquired robert mondavi brand names have strong brand recognition globally . the vast majority of sales from these brands are generated in the united states . the company is leveraging the robert mondavi brands in the united states through its selling , marketing and distribution infrastructure . the company also intends to further expand distribution for the robert mondavi brands in europe through its constellation europe infrastructure . the robert mondavi acquisition supports the com- pany 2019s strategy of growth and breadth across categories and geographies , and strengthens its competitive position in its core markets . the robert mondavi acquisition provides the company with a greater presence in the growing premium , super-premium and fine wine sectors within the united states and the ability to capitalize on the broader geographic distribution in strategic international markets . in particular , the company believes there are growth opportunities for premium , super-premium and fine wines in the united kingdom and other 201cnew world 201d wine markets . total con- sideration paid in cash to the robert mondavi shareholders was $ 1030.7 million . additionally , the company incurred direct acquisition costs of $ 12.0 million . the purchase price was financed with borrowings under the company 2019s 2004 credit agreement ( as defined in note 9 ) . in accordance with the purchase method of accounting , the acquired net assets are recorded at fair value at the date of acquisition . the purchase price was based primarily on the estimated future operating results of the robert mondavi business , including the factors described above , as well as an estimated benefit from operating cost synergies . the results of operations of the robert mondavi busi- ness are reported in the constellation wines segment and have been included in the consolidated statements of income since the acquisition date . the following table summarizes the fair values of the assets acquired and liabilities assumed in the robert mondavi acquisition at the date of acquisition , as adjusted for the final appraisal : ( in thousands ) .

the trademarks are not subject to amortization . none of the goodwill is expected to be deductible for tax purposes . following the robert mondavi acquisition , the company sold certain of the acquired vineyard properties and related assets , investments accounted for under the equity method , and other winery properties and related assets , during the years ended february 28 , 2006 , and february 28 , 2005 . the company realized net proceeds of $ 170.8 million from the sale of these assets during the year ended february 28 , 2006 . amounts realized during the year ended february 28 , 2005 , were not material . no gain or loss has been recognized upon the sale of these assets . hardy acquisition 2013 on march 27 , 2003 , the company acquired control of brl hardy limited , now known as hardy wine company limited ( 201chardy 201d ) , and on april 9 , 2003 , the company completed its acquisition of all of hardy 2019s outstanding capital stock . as a result of the acquisi- tion of hardy , the company also acquired the remaining 50% ( 50 % ) ownership of pacific wine partners llc ( 201cpwp 201d ) , the joint venture the company established with hardy in july 2001 . the acquisition of hardy along with the remaining interest in pwp is referred to together as the 201chardy acquisition . 201d through this acquisition , the company acquired one of australia 2019s largest wine producers with interests in wineries and vineyards in most of australia 2019s major wine regions as well as new zealand and the united states and hardy 2019s marketing and sales operations in the united kingdom . in october 2005 , pwp was merged into another subsidiary of the company . total consideration paid in cash and class a common stock to the hardy shareholders was $ 1137.4 million . additionally , the company recorded direct acquisition costs of $ 17.2 million . the acquisition date for accounting pur- poses is march 27 , 2003 . the company has recorded a $ 1.6 million reduction in the purchase price to reflect imputed interest between the accounting acquisition date and the final payment of consideration . this charge is included as interest expense in the consolidated statement of income for the year ended february 29 , 2004 . the cash portion of the purchase price paid to the hardy shareholders and optionholders ( $ 1060.2 million ) was financed with $ 660.2 million of borrowings under the company 2019s then existing credit agreement and $ 400.0 million of borrowings under the company 2019s then existing bridge loan agreement . addi- tionally , the company issued 6577826 shares of the com- pany 2019s class a common stock , which were valued at $ 77.2 million based on the simple average of the closing market price of the company 2019s class a common stock beginning two days before and ending two days after april 4 , 2003 , the day the hardy shareholders elected the form of consid- eration they wished to receive . the purchase price was based primarily on a discounted cash flow analysis that contemplated , among other things , the value of a broader geographic distribution in strategic international markets and a presence in the important australian winemaking regions . the company and hardy have complementary businesses that share a common growth orientation and operating philosophy . the hardy acquisition supports the company 2019s strategy of growth and breadth across categories .

| | current assets | $ 513782 | |---:|:-----------------------------|:-----------| | 0 | property plant and equipment | 438140 | | 1 | other assets | 124450 | | 2 | trademarks | 138000 | | 3 | goodwill | 634203 | | 4 | total assets acquired | 1848575 | | 5 | current liabilities | 310919 | | 6 | long-term liabilities | 494995 | | 7 | total liabilities assumed | 805914 | | 8 | net assets acquired | $ 1042661 |

c o n s t e l l a t i o n b r a n d s , i n c . baroness philippine de rothschild announced an agree- ment to maintain equal ownership of opus one . opus one produces fine wines at its napa valley winery . the acquisition of robert mondavi supports the com- pany 2019s strategy of strengthening the breadth of its portfolio across price segments to capitalize on the overall growth in the premium , super-premium and fine wine categories . the company believes that the acquired robert mondavi brand names have strong brand recognition globally . the vast majority of sales from these brands are generated in the united states . the company is leveraging the robert mondavi brands in the united states through its selling , marketing and distribution infrastructure . the company also intends to further expand distribution for the robert mondavi brands in europe through its constellation europe infrastructure . the robert mondavi acquisition supports the com- pany 2019s strategy of growth and breadth across categories and geographies , and strengthens its competitive position in its core markets . the robert mondavi acquisition provides the company with a greater presence in the growing premium , super-premium and fine wine sectors within the united states and the ability to capitalize on the broader geographic distribution in strategic international markets . in particular , the company believes there are growth opportunities for premium , super-premium and fine wines in the united kingdom and other 201cnew world 201d wine markets . total con- sideration paid in cash to the robert mondavi shareholders was $ 1030.7 million . additionally , the company incurred direct acquisition costs of $ 12.0 million . the purchase price was financed with borrowings under the company 2019s 2004 credit agreement ( as defined in note 9 ) . in accordance with the purchase method of accounting , the acquired net assets are recorded at fair value at the date of acquisition . the purchase price was based primarily on the estimated future operating results of the robert mondavi business , including the factors described above , as well as an estimated benefit from operating cost synergies . the results of operations of the robert mondavi busi- ness are reported in the constellation wines segment and have been included in the consolidated statements of income since the acquisition date . the following table summarizes the fair values of the assets acquired and liabilities assumed in the robert mondavi acquisition at the date of acquisition , as adjusted for the final appraisal : ( in thousands ) ._| | current assets | $ 513782 | |---:|:-----------------------------|:-----------| | 0 | property plant and equipment | 438140 | | 1 | other assets | 124450 | | 2 | trademarks | 138000 | | 3 | goodwill | 634203 | | 4 | total assets acquired | 1848575 | | 5 | current liabilities | 310919 | | 6 | long-term liabilities | 494995 | | 7 | total liabilities assumed | 805914 | | 8 | net assets acquired | $ 1042661 |_the trademarks are not subject to amortization . none of the goodwill is expected to be deductible for tax purposes . following the robert mondavi acquisition , the company sold certain of the acquired vineyard properties and related assets , investments accounted for under the equity method , and other winery properties and related assets , during the years ended february 28 , 2006 , and february 28 , 2005 . the company realized net proceeds of $ 170.8 million from the sale of these assets during the year ended february 28 , 2006 . amounts realized during the year ended february 28 , 2005 , were not material . no gain or loss has been recognized upon the sale of these assets . hardy acquisition 2013 on march 27 , 2003 , the company acquired control of brl hardy limited , now known as hardy wine company limited ( 201chardy 201d ) , and on april 9 , 2003 , the company completed its acquisition of all of hardy 2019s outstanding capital stock . as a result of the acquisi- tion of hardy , the company also acquired the remaining 50% ( 50 % ) ownership of pacific wine partners llc ( 201cpwp 201d ) , the joint venture the company established with hardy in july 2001 . the acquisition of hardy along with the remaining interest in pwp is referred to together as the 201chardy acquisition . 201d through this acquisition , the company acquired one of australia 2019s largest wine producers with interests in wineries and vineyards in most of australia 2019s major wine regions as well as new zealand and the united states and hardy 2019s marketing and sales operations in the united kingdom . in october 2005 , pwp was merged into another subsidiary of the company . total consideration paid in cash and class a common stock to the hardy shareholders was $ 1137.4 million . additionally , the company recorded direct acquisition costs of $ 17.2 million . the acquisition date for accounting pur- poses is march 27 , 2003 . the company has recorded a $ 1.6 million reduction in the purchase price to reflect imputed interest between the accounting acquisition date and the final payment of consideration . this charge is included as interest expense in the consolidated statement of income for the year ended february 29 , 2004 . the cash portion of the purchase price paid to the hardy shareholders and optionholders ( $ 1060.2 million ) was financed with $ 660.2 million of borrowings under the company 2019s then existing credit agreement and $ 400.0 million of borrowings under the company 2019s then existing bridge loan agreement . addi- tionally , the company issued 6577826 shares of the com- pany 2019s class a common stock , which were valued at $ 77.2 million based on the simple average of the closing market price of the company 2019s class a common stock beginning two days before and ending two days after april 4 , 2003 , the day the hardy shareholders elected the form of consid- eration they wished to receive . the purchase price was based primarily on a discounted cash flow analysis that contemplated , among other things , the value of a broader geographic distribution in strategic international markets and a presence in the important australian winemaking regions . the company and hardy have complementary businesses that share a common growth orientation and operating philosophy . the hardy acquisition supports the company 2019s strategy of growth and breadth across categories .

2,006

68

STZ

Constellation Brands

Consumer Staples

Distillers & Vintners

Rochester, New York

2005-07-01

16,918

1945

what is the current ratio of robert mondavi?

1.7

divide(513782, 310919)

c o n s t e l l a t i o n b r a n d s , i n c . baroness philippine de rothschild announced an agree- ment to maintain equal ownership of opus one . opus one produces fine wines at its napa valley winery . the acquisition of robert mondavi supports the com- pany 2019s strategy of strengthening the breadth of its portfolio across price segments to capitalize on the overall growth in the premium , super-premium and fine wine categories . the company believes that the acquired robert mondavi brand names have strong brand recognition globally . the vast majority of sales from these brands are generated in the united states . the company is leveraging the robert mondavi brands in the united states through its selling , marketing and distribution infrastructure . the company also intends to further expand distribution for the robert mondavi brands in europe through its constellation europe infrastructure . the robert mondavi acquisition supports the com- pany 2019s strategy of growth and breadth across categories and geographies , and strengthens its competitive position in its core markets . the robert mondavi acquisition provides the company with a greater presence in the growing premium , super-premium and fine wine sectors within the united states and the ability to capitalize on the broader geographic distribution in strategic international markets . in particular , the company believes there are growth opportunities for premium , super-premium and fine wines in the united kingdom and other 201cnew world 201d wine markets . total con- sideration paid in cash to the robert mondavi shareholders was $ 1030.7 million . additionally , the company incurred direct acquisition costs of $ 12.0 million . the purchase price was financed with borrowings under the company 2019s 2004 credit agreement ( as defined in note 9 ) . in accordance with the purchase method of accounting , the acquired net assets are recorded at fair value at the date of acquisition . the purchase price was based primarily on the estimated future operating results of the robert mondavi business , including the factors described above , as well as an estimated benefit from operating cost synergies . the results of operations of the robert mondavi busi- ness are reported in the constellation wines segment and have been included in the consolidated statements of income since the acquisition date . the following table summarizes the fair values of the assets acquired and liabilities assumed in the robert mondavi acquisition at the date of acquisition , as adjusted for the final appraisal : ( in thousands ) .

the trademarks are not subject to amortization . none of the goodwill is expected to be deductible for tax purposes . following the robert mondavi acquisition , the company sold certain of the acquired vineyard properties and related assets , investments accounted for under the equity method , and other winery properties and related assets , during the years ended february 28 , 2006 , and february 28 , 2005 . the company realized net proceeds of $ 170.8 million from the sale of these assets during the year ended february 28 , 2006 . amounts realized during the year ended february 28 , 2005 , were not material . no gain or loss has been recognized upon the sale of these assets . hardy acquisition 2013 on march 27 , 2003 , the company acquired control of brl hardy limited , now known as hardy wine company limited ( 201chardy 201d ) , and on april 9 , 2003 , the company completed its acquisition of all of hardy 2019s outstanding capital stock . as a result of the acquisi- tion of hardy , the company also acquired the remaining 50% ( 50 % ) ownership of pacific wine partners llc ( 201cpwp 201d ) , the joint venture the company established with hardy in july 2001 . the acquisition of hardy along with the remaining interest in pwp is referred to together as the 201chardy acquisition . 201d through this acquisition , the company acquired one of australia 2019s largest wine producers with interests in wineries and vineyards in most of australia 2019s major wine regions as well as new zealand and the united states and hardy 2019s marketing and sales operations in the united kingdom . in october 2005 , pwp was merged into another subsidiary of the company . total consideration paid in cash and class a common stock to the hardy shareholders was $ 1137.4 million . additionally , the company recorded direct acquisition costs of $ 17.2 million . the acquisition date for accounting pur- poses is march 27 , 2003 . the company has recorded a $ 1.6 million reduction in the purchase price to reflect imputed interest between the accounting acquisition date and the final payment of consideration . this charge is included as interest expense in the consolidated statement of income for the year ended february 29 , 2004 . the cash portion of the purchase price paid to the hardy shareholders and optionholders ( $ 1060.2 million ) was financed with $ 660.2 million of borrowings under the company 2019s then existing credit agreement and $ 400.0 million of borrowings under the company 2019s then existing bridge loan agreement . addi- tionally , the company issued 6577826 shares of the com- pany 2019s class a common stock , which were valued at $ 77.2 million based on the simple average of the closing market price of the company 2019s class a common stock beginning two days before and ending two days after april 4 , 2003 , the day the hardy shareholders elected the form of consid- eration they wished to receive . the purchase price was based primarily on a discounted cash flow analysis that contemplated , among other things , the value of a broader geographic distribution in strategic international markets and a presence in the important australian winemaking regions . the company and hardy have complementary businesses that share a common growth orientation and operating philosophy . the hardy acquisition supports the company 2019s strategy of growth and breadth across categories .

| | current assets | $ 513782 | |---:|:-----------------------------|:-----------| | 0 | property plant and equipment | 438140 | | 1 | other assets | 124450 | | 2 | trademarks | 138000 | | 3 | goodwill | 634203 | | 4 | total assets acquired | 1848575 | | 5 | current liabilities | 310919 | | 6 | long-term liabilities | 494995 | | 7 | total liabilities assumed | 805914 | | 8 | net assets acquired | $ 1042661 |

c o n s t e l l a t i o n b r a n d s , i n c . baroness philippine de rothschild announced an agree- ment to maintain equal ownership of opus one . opus one produces fine wines at its napa valley winery . the acquisition of robert mondavi supports the com- pany 2019s strategy of strengthening the breadth of its portfolio across price segments to capitalize on the overall growth in the premium , super-premium and fine wine categories . the company believes that the acquired robert mondavi brand names have strong brand recognition globally . the vast majority of sales from these brands are generated in the united states . the company is leveraging the robert mondavi brands in the united states through its selling , marketing and distribution infrastructure . the company also intends to further expand distribution for the robert mondavi brands in europe through its constellation europe infrastructure . the robert mondavi acquisition supports the com- pany 2019s strategy of growth and breadth across categories and geographies , and strengthens its competitive position in its core markets . the robert mondavi acquisition provides the company with a greater presence in the growing premium , super-premium and fine wine sectors within the united states and the ability to capitalize on the broader geographic distribution in strategic international markets . in particular , the company believes there are growth opportunities for premium , super-premium and fine wines in the united kingdom and other 201cnew world 201d wine markets . total con- sideration paid in cash to the robert mondavi shareholders was $ 1030.7 million . additionally , the company incurred direct acquisition costs of $ 12.0 million . the purchase price was financed with borrowings under the company 2019s 2004 credit agreement ( as defined in note 9 ) . in accordance with the purchase method of accounting , the acquired net assets are recorded at fair value at the date of acquisition . the purchase price was based primarily on the estimated future operating results of the robert mondavi business , including the factors described above , as well as an estimated benefit from operating cost synergies . the results of operations of the robert mondavi busi- ness are reported in the constellation wines segment and have been included in the consolidated statements of income since the acquisition date . the following table summarizes the fair values of the assets acquired and liabilities assumed in the robert mondavi acquisition at the date of acquisition , as adjusted for the final appraisal : ( in thousands ) ._| | current assets | $ 513782 | |---:|:-----------------------------|:-----------| | 0 | property plant and equipment | 438140 | | 1 | other assets | 124450 | | 2 | trademarks | 138000 | | 3 | goodwill | 634203 | | 4 | total assets acquired | 1848575 | | 5 | current liabilities | 310919 | | 6 | long-term liabilities | 494995 | | 7 | total liabilities assumed | 805914 | | 8 | net assets acquired | $ 1042661 |_the trademarks are not subject to amortization . none of the goodwill is expected to be deductible for tax purposes . following the robert mondavi acquisition , the company sold certain of the acquired vineyard properties and related assets , investments accounted for under the equity method , and other winery properties and related assets , during the years ended february 28 , 2006 , and february 28 , 2005 . the company realized net proceeds of $ 170.8 million from the sale of these assets during the year ended february 28 , 2006 . amounts realized during the year ended february 28 , 2005 , were not material . no gain or loss has been recognized upon the sale of these assets . hardy acquisition 2013 on march 27 , 2003 , the company acquired control of brl hardy limited , now known as hardy wine company limited ( 201chardy 201d ) , and on april 9 , 2003 , the company completed its acquisition of all of hardy 2019s outstanding capital stock . as a result of the acquisi- tion of hardy , the company also acquired the remaining 50% ( 50 % ) ownership of pacific wine partners llc ( 201cpwp 201d ) , the joint venture the company established with hardy in july 2001 . the acquisition of hardy along with the remaining interest in pwp is referred to together as the 201chardy acquisition . 201d through this acquisition , the company acquired one of australia 2019s largest wine producers with interests in wineries and vineyards in most of australia 2019s major wine regions as well as new zealand and the united states and hardy 2019s marketing and sales operations in the united kingdom . in october 2005 , pwp was merged into another subsidiary of the company . total consideration paid in cash and class a common stock to the hardy shareholders was $ 1137.4 million . additionally , the company recorded direct acquisition costs of $ 17.2 million . the acquisition date for accounting pur- poses is march 27 , 2003 . the company has recorded a $ 1.6 million reduction in the purchase price to reflect imputed interest between the accounting acquisition date and the final payment of consideration . this charge is included as interest expense in the consolidated statement of income for the year ended february 29 , 2004 . the cash portion of the purchase price paid to the hardy shareholders and optionholders ( $ 1060.2 million ) was financed with $ 660.2 million of borrowings under the company 2019s then existing credit agreement and $ 400.0 million of borrowings under the company 2019s then existing bridge loan agreement . addi- tionally , the company issued 6577826 shares of the com- pany 2019s class a common stock , which were valued at $ 77.2 million based on the simple average of the closing market price of the company 2019s class a common stock beginning two days before and ending two days after april 4 , 2003 , the day the hardy shareholders elected the form of consid- eration they wished to receive . the purchase price was based primarily on a discounted cash flow analysis that contemplated , among other things , the value of a broader geographic distribution in strategic international markets and a presence in the important australian winemaking regions . the company and hardy have complementary businesses that share a common growth orientation and operating philosophy . the hardy acquisition supports the company 2019s strategy of growth and breadth across categories .

2,006

68

STZ

Constellation Brands

Consumer Staples

Distillers & Vintners

Rochester, New York

2005-07-01

16,918

1945

null

finqa269

what is the percent change in earnings for non-utility nuclear from 2001 to 2002?

57.0%

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 is the percent change in earnings for non-utility nuclear from 2001 to 2002?

57.0%

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

finqa270

what were average backlog at year-end for mfc from 2013 to 2015 in millions?

14367

divide(add(add(15500, 13300), 14300), const_3)

backlog backlog decreased in 2015 compared to 2014 primarily due to sales being recognized on several multi-year programs ( such as hmsc , nisc iii , ciog and nsf asc ) related to prior year awards and a limited number of large new business awards . backlog decreased in 2014 compared to 2013 primarily due to lower customer funding levels and declining activities on direct warfighter support programs impacted by defense budget reductions . trends we expect is&gs 2019 2016 net sales to decline in the high-single digit percentage range as compared to 2015 , primarily driven by key loss contracts in an increasingly competitive environment , along with volume contraction on the segment 2019s major contracts . operating profit is expected to decline at a higher percentage range in 2016 , as compared to net sales percentage declines , driven by higher margin program losses and re-compete programs awarded at lower margins . accordingly , 2016 margins are expected to be lower than 2015 results . missiles and fire control our mfc business segment provides air and missile defense systems ; tactical missiles and air-to-ground precision strike weapon systems ; logistics ; fire control systems ; mission operations support , readiness , engineering support and integration services ; manned and unmanned ground vehicles ; and energy management solutions . mfc 2019s major programs include pac-3 , thaad , multiple launch rocket system , hellfire , jassm , javelin , apache , sniper ae , low altitude navigation and targeting infrared for night ( lantirn ae ) and sof clss . mfc 2019s operating results included the following ( in millions ) : .

2015 compared to 2014 mfc 2019s net sales in 2015 decreased $ 322 million , or 5% ( 5 % ) , compared to the same period in 2014 . the decrease was attributable to lower net sales of approximately $ 345 million for air and missile defense programs due to fewer deliveries ( primarily pac-3 ) and lower volume ( primarily thaad ) ; and approximately $ 85 million for tactical missile programs due to fewer deliveries ( primarily guided multiple launch rocket system ( gmlrs ) ) and joint air-to-surface standoff missile , partially offset by increased deliveries for hellfire . these decreases were partially offset by higher net sales of approximately $ 55 million for energy solutions programs due to increased volume . mfc 2019s operating profit in 2015 decreased $ 62 million , or 5% ( 5 % ) , compared to 2014 . the decrease was attributable to lower operating profit of approximately $ 100 million for fire control programs due primarily to lower risk retirements ( primarily lantirn and sniper ) ; and approximately $ 65 million for tactical missile programs due to lower risk retirements ( primarily hellfire and gmlrs ) and fewer deliveries . these decreases were partially offset by higher operating profit of approximately $ 75 million for air and missile defense programs due to increased risk retirements ( primarily thaad ) . adjustments not related to volume , including net profit booking rate adjustments and other matters , were approximately $ 60 million lower in 2015 compared to 2014 . 2014 compared to 2013 mfc 2019s net sales increased $ 297 million , or 4% ( 4 % ) , in 2014 as compared to 2013 . the increase was primarily attributable to higher net sales of approximately $ 180 million for air and missile defense programs primarily due to increased volume for thaad ; about $ 115 million for fire control programs due to increased deliveries ( including apache ) ; and about $ 125 million for various other programs due to increased volume . these increases were partially offset by lower net sales of approximately $ 115 million for tactical missile programs due to fewer deliveries ( primarily high mobility artillery rocket system and army tactical missile system ) . mfc 2019s operating profit decreased $ 35 million , or 3% ( 3 % ) , in 2014 as compared to 2013 . the decrease was primarily attributable to lower operating profit of about $ 20 million for tactical missile programs due to net warranty reserve adjustments for various programs ( including jassm and gmlrs ) and fewer deliveries ; and approximately $ 45 million for various other programs due to lower risk retirements . the decreases were offset by higher operating profit of approximately $ 20 million for air and missile defense programs due to increased volume ( primarily thaad and pac-3 ) ; and about .

| | | 2015 | 2014 | 2013 | |---:|:--------------------|:-----------------|:-----------------|:-----------------| | 0 | net sales | $ 6770 | $ 7092 | $ 6795 | | 1 | operating profit | 1282 | 1344 | 1379 | | 2 | operating margins | 18.9% ( 18.9 % ) | 19.0% ( 19.0 % ) | 20.3% ( 20.3 % ) | | 3 | backlog at year-end | $ 15500 | $ 13300 | $ 14300 |

backlog backlog decreased in 2015 compared to 2014 primarily due to sales being recognized on several multi-year programs ( such as hmsc , nisc iii , ciog and nsf asc ) related to prior year awards and a limited number of large new business awards . backlog decreased in 2014 compared to 2013 primarily due to lower customer funding levels and declining activities on direct warfighter support programs impacted by defense budget reductions . trends we expect is&gs 2019 2016 net sales to decline in the high-single digit percentage range as compared to 2015 , primarily driven by key loss contracts in an increasingly competitive environment , along with volume contraction on the segment 2019s major contracts . operating profit is expected to decline at a higher percentage range in 2016 , as compared to net sales percentage declines , driven by higher margin program losses and re-compete programs awarded at lower margins . accordingly , 2016 margins are expected to be lower than 2015 results . missiles and fire control our mfc business segment provides air and missile defense systems ; tactical missiles and air-to-ground precision strike weapon systems ; logistics ; fire control systems ; mission operations support , readiness , engineering support and integration services ; manned and unmanned ground vehicles ; and energy management solutions . mfc 2019s major programs include pac-3 , thaad , multiple launch rocket system , hellfire , jassm , javelin , apache , sniper ae , low altitude navigation and targeting infrared for night ( lantirn ae ) and sof clss . mfc 2019s operating results included the following ( in millions ) : ._| | | 2015 | 2014 | 2013 | |---:|:--------------------|:-----------------|:-----------------|:-----------------| | 0 | net sales | $ 6770 | $ 7092 | $ 6795 | | 1 | operating profit | 1282 | 1344 | 1379 | | 2 | operating margins | 18.9% ( 18.9 % ) | 19.0% ( 19.0 % ) | 20.3% ( 20.3 % ) | | 3 | backlog at year-end | $ 15500 | $ 13300 | $ 14300 |_2015 compared to 2014 mfc 2019s net sales in 2015 decreased $ 322 million , or 5% ( 5 % ) , compared to the same period in 2014 . the decrease was attributable to lower net sales of approximately $ 345 million for air and missile defense programs due to fewer deliveries ( primarily pac-3 ) and lower volume ( primarily thaad ) ; and approximately $ 85 million for tactical missile programs due to fewer deliveries ( primarily guided multiple launch rocket system ( gmlrs ) ) and joint air-to-surface standoff missile , partially offset by increased deliveries for hellfire . these decreases were partially offset by higher net sales of approximately $ 55 million for energy solutions programs due to increased volume . mfc 2019s operating profit in 2015 decreased $ 62 million , or 5% ( 5 % ) , compared to 2014 . the decrease was attributable to lower operating profit of approximately $ 100 million for fire control programs due primarily to lower risk retirements ( primarily lantirn and sniper ) ; and approximately $ 65 million for tactical missile programs due to lower risk retirements ( primarily hellfire and gmlrs ) and fewer deliveries . these decreases were partially offset by higher operating profit of approximately $ 75 million for air and missile defense programs due to increased risk retirements ( primarily thaad ) . adjustments not related to volume , including net profit booking rate adjustments and other matters , were approximately $ 60 million lower in 2015 compared to 2014 . 2014 compared to 2013 mfc 2019s net sales increased $ 297 million , or 4% ( 4 % ) , in 2014 as compared to 2013 . the increase was primarily attributable to higher net sales of approximately $ 180 million for air and missile defense programs primarily due to increased volume for thaad ; about $ 115 million for fire control programs due to increased deliveries ( including apache ) ; and about $ 125 million for various other programs due to increased volume . these increases were partially offset by lower net sales of approximately $ 115 million for tactical missile programs due to fewer deliveries ( primarily high mobility artillery rocket system and army tactical missile system ) . mfc 2019s operating profit decreased $ 35 million , or 3% ( 3 % ) , in 2014 as compared to 2013 . the decrease was primarily attributable to lower operating profit of about $ 20 million for tactical missile programs due to net warranty reserve adjustments for various programs ( including jassm and gmlrs ) and fewer deliveries ; and approximately $ 45 million for various other programs due to lower risk retirements . the decreases were offset by higher operating profit of approximately $ 20 million for air and missile defense programs due to increased volume ( primarily thaad and pac-3 ) ; and about .

2,015

54

LMT

Lockheed Martin

Industrials

Aerospace & Defense

Bethesda, Maryland

1957-03-04

936,468

1995

what were average backlog at year-end for mfc from 2013 to 2015 in millions?

14367

divide(add(add(15500, 13300), 14300), const_3)

backlog backlog decreased in 2015 compared to 2014 primarily due to sales being recognized on several multi-year programs ( such as hmsc , nisc iii , ciog and nsf asc ) related to prior year awards and a limited number of large new business awards . backlog decreased in 2014 compared to 2013 primarily due to lower customer funding levels and declining activities on direct warfighter support programs impacted by defense budget reductions . trends we expect is&gs 2019 2016 net sales to decline in the high-single digit percentage range as compared to 2015 , primarily driven by key loss contracts in an increasingly competitive environment , along with volume contraction on the segment 2019s major contracts . operating profit is expected to decline at a higher percentage range in 2016 , as compared to net sales percentage declines , driven by higher margin program losses and re-compete programs awarded at lower margins . accordingly , 2016 margins are expected to be lower than 2015 results . missiles and fire control our mfc business segment provides air and missile defense systems ; tactical missiles and air-to-ground precision strike weapon systems ; logistics ; fire control systems ; mission operations support , readiness , engineering support and integration services ; manned and unmanned ground vehicles ; and energy management solutions . mfc 2019s major programs include pac-3 , thaad , multiple launch rocket system , hellfire , jassm , javelin , apache , sniper ae , low altitude navigation and targeting infrared for night ( lantirn ae ) and sof clss . mfc 2019s operating results included the following ( in millions ) : .

2015 compared to 2014 mfc 2019s net sales in 2015 decreased $ 322 million , or 5% ( 5 % ) , compared to the same period in 2014 . the decrease was attributable to lower net sales of approximately $ 345 million for air and missile defense programs due to fewer deliveries ( primarily pac-3 ) and lower volume ( primarily thaad ) ; and approximately $ 85 million for tactical missile programs due to fewer deliveries ( primarily guided multiple launch rocket system ( gmlrs ) ) and joint air-to-surface standoff missile , partially offset by increased deliveries for hellfire . these decreases were partially offset by higher net sales of approximately $ 55 million for energy solutions programs due to increased volume . mfc 2019s operating profit in 2015 decreased $ 62 million , or 5% ( 5 % ) , compared to 2014 . the decrease was attributable to lower operating profit of approximately $ 100 million for fire control programs due primarily to lower risk retirements ( primarily lantirn and sniper ) ; and approximately $ 65 million for tactical missile programs due to lower risk retirements ( primarily hellfire and gmlrs ) and fewer deliveries . these decreases were partially offset by higher operating profit of approximately $ 75 million for air and missile defense programs due to increased risk retirements ( primarily thaad ) . adjustments not related to volume , including net profit booking rate adjustments and other matters , were approximately $ 60 million lower in 2015 compared to 2014 . 2014 compared to 2013 mfc 2019s net sales increased $ 297 million , or 4% ( 4 % ) , in 2014 as compared to 2013 . the increase was primarily attributable to higher net sales of approximately $ 180 million for air and missile defense programs primarily due to increased volume for thaad ; about $ 115 million for fire control programs due to increased deliveries ( including apache ) ; and about $ 125 million for various other programs due to increased volume . these increases were partially offset by lower net sales of approximately $ 115 million for tactical missile programs due to fewer deliveries ( primarily high mobility artillery rocket system and army tactical missile system ) . mfc 2019s operating profit decreased $ 35 million , or 3% ( 3 % ) , in 2014 as compared to 2013 . the decrease was primarily attributable to lower operating profit of about $ 20 million for tactical missile programs due to net warranty reserve adjustments for various programs ( including jassm and gmlrs ) and fewer deliveries ; and approximately $ 45 million for various other programs due to lower risk retirements . the decreases were offset by higher operating profit of approximately $ 20 million for air and missile defense programs due to increased volume ( primarily thaad and pac-3 ) ; and about .

| | | 2015 | 2014 | 2013 | |---:|:--------------------|:-----------------|:-----------------|:-----------------| | 0 | net sales | $ 6770 | $ 7092 | $ 6795 | | 1 | operating profit | 1282 | 1344 | 1379 | | 2 | operating margins | 18.9% ( 18.9 % ) | 19.0% ( 19.0 % ) | 20.3% ( 20.3 % ) | | 3 | backlog at year-end | $ 15500 | $ 13300 | $ 14300 |

backlog backlog decreased in 2015 compared to 2014 primarily due to sales being recognized on several multi-year programs ( such as hmsc , nisc iii , ciog and nsf asc ) related to prior year awards and a limited number of large new business awards . backlog decreased in 2014 compared to 2013 primarily due to lower customer funding levels and declining activities on direct warfighter support programs impacted by defense budget reductions . trends we expect is&gs 2019 2016 net sales to decline in the high-single digit percentage range as compared to 2015 , primarily driven by key loss contracts in an increasingly competitive environment , along with volume contraction on the segment 2019s major contracts . operating profit is expected to decline at a higher percentage range in 2016 , as compared to net sales percentage declines , driven by higher margin program losses and re-compete programs awarded at lower margins . accordingly , 2016 margins are expected to be lower than 2015 results . missiles and fire control our mfc business segment provides air and missile defense systems ; tactical missiles and air-to-ground precision strike weapon systems ; logistics ; fire control systems ; mission operations support , readiness , engineering support and integration services ; manned and unmanned ground vehicles ; and energy management solutions . mfc 2019s major programs include pac-3 , thaad , multiple launch rocket system , hellfire , jassm , javelin , apache , sniper ae , low altitude navigation and targeting infrared for night ( lantirn ae ) and sof clss . mfc 2019s operating results included the following ( in millions ) : ._| | | 2015 | 2014 | 2013 | |---:|:--------------------|:-----------------|:-----------------|:-----------------| | 0 | net sales | $ 6770 | $ 7092 | $ 6795 | | 1 | operating profit | 1282 | 1344 | 1379 | | 2 | operating margins | 18.9% ( 18.9 % ) | 19.0% ( 19.0 % ) | 20.3% ( 20.3 % ) | | 3 | backlog at year-end | $ 15500 | $ 13300 | $ 14300 |_2015 compared to 2014 mfc 2019s net sales in 2015 decreased $ 322 million , or 5% ( 5 % ) , compared to the same period in 2014 . the decrease was attributable to lower net sales of approximately $ 345 million for air and missile defense programs due to fewer deliveries ( primarily pac-3 ) and lower volume ( primarily thaad ) ; and approximately $ 85 million for tactical missile programs due to fewer deliveries ( primarily guided multiple launch rocket system ( gmlrs ) ) and joint air-to-surface standoff missile , partially offset by increased deliveries for hellfire . these decreases were partially offset by higher net sales of approximately $ 55 million for energy solutions programs due to increased volume . mfc 2019s operating profit in 2015 decreased $ 62 million , or 5% ( 5 % ) , compared to 2014 . the decrease was attributable to lower operating profit of approximately $ 100 million for fire control programs due primarily to lower risk retirements ( primarily lantirn and sniper ) ; and approximately $ 65 million for tactical missile programs due to lower risk retirements ( primarily hellfire and gmlrs ) and fewer deliveries . these decreases were partially offset by higher operating profit of approximately $ 75 million for air and missile defense programs due to increased risk retirements ( primarily thaad ) . adjustments not related to volume , including net profit booking rate adjustments and other matters , were approximately $ 60 million lower in 2015 compared to 2014 . 2014 compared to 2013 mfc 2019s net sales increased $ 297 million , or 4% ( 4 % ) , in 2014 as compared to 2013 . the increase was primarily attributable to higher net sales of approximately $ 180 million for air and missile defense programs primarily due to increased volume for thaad ; about $ 115 million for fire control programs due to increased deliveries ( including apache ) ; and about $ 125 million for various other programs due to increased volume . these increases were partially offset by lower net sales of approximately $ 115 million for tactical missile programs due to fewer deliveries ( primarily high mobility artillery rocket system and army tactical missile system ) . mfc 2019s operating profit decreased $ 35 million , or 3% ( 3 % ) , in 2014 as compared to 2013 . the decrease was primarily attributable to lower operating profit of about $ 20 million for tactical missile programs due to net warranty reserve adjustments for various programs ( including jassm and gmlrs ) and fewer deliveries ; and approximately $ 45 million for various other programs due to lower risk retirements . the decreases were offset by higher operating profit of approximately $ 20 million for air and missile defense programs due to increased volume ( primarily thaad and pac-3 ) ; and about .

2,015

54

LMT

Lockheed Martin

Industrials

Aerospace & Defense

Bethesda, Maryland

1957-03-04

936,468

1995

null

finqa271

as of december 31 , 2015 what was the percentage decline in the gross unrecognized tax benefits from 2014 to 2015

-32.9%

divide(subtract(47.0, 70.1), 70.1)

republic services , inc . notes to consolidated financial statements 2014 ( continued ) the following table summarizes the activity in our gross unrecognized tax benefits for the years ended december 31: .

during 2015 , we settled tax matters in various states and puerto rico which reduced our gross unrecognized tax benefits by $ 13.9 million . during 2014 , we settled tax matters in various jurisdictions and reduced our gross unrecognized tax benefits by $ 1.5 million . during 2013 , we settled with the irs appeals division and the joint committee on taxation our 2009 and 2010 tax years . the resolution of these tax periods in addition to various state tax resolutions during the year reduced our gross unrecognized tax benefits by $ 20.7 million . included in our gross unrecognized tax benefits as of december 31 , 2015 and 2014 are $ 30.5 million and $ 45.6 million of unrecognized tax benefits ( net of the federal benefit on state matters ) that , if recognized , would affect our effective income tax rate in future periods . we recognize interest and penalties as incurred within the provision for income taxes in our consolidated statements of income . related to the unrecognized tax benefits previously noted , we recorded interest expense of approximately $ 1.2 million during 2015 and , in total as of december 31 , 2015 , have recognized a liability for penalties of $ 0.5 million and interest of $ 10.3 million . during 2014 , we accrued interest of approximately $ 1.5 million and , in total as of december 31 , 2014 , had recognized a liability for penalties of $ 0.5 million and interest of $ 18.7 million . during 2013 , we accrued interest of approximately $ 1.2 million and , in total as of december 31 , 2013 , had recognized a liability for penalties of $ 0.5 million and interest of $ 17.0 million . gross unrecognized benefits that we expect to settle in the following twelve months are in the range of $ 0 to $ 10 million ; however , it is reasonably possible that the amount of unrecognized tax benefits may either increase or decrease in the next twelve months . we are currently under examination or administrative review by state and local taxing authorities for various tax years . these state audits are ongoing . we believe the recorded liabilities for uncertain tax positions are adequate . however , a significant assessment against us in excess of the liabilities recorded could have a material adverse effect on our consolidated financial position , results of operations or cash flows. .

| | | 2015 | 2014 | 2013 | |---:|:----------------------------------------------------------------------------|:---------------|:-------------|:---------------| | 0 | balance at beginning of year | $ 70.1 | $ 72.0 | $ 84.7 | | 1 | additions based on tax positions related to current year | 0.2 | 0.8 | 0.3 | | 2 | additions for tax positions of prior years | 1.4 | 5.0 | 11.4 | | 3 | reductions for tax positions of prior years | -10.2 ( 10.2 ) | -6.0 ( 6.0 ) | -2.4 ( 2.4 ) | | 4 | reductions for tax positions resulting from lapse of statute of limitations | -0.6 ( 0.6 ) | -0.2 ( 0.2 ) | -1.3 ( 1.3 ) | | 5 | settlements | -13.9 ( 13.9 ) | -1.5 ( 1.5 ) | -20.7 ( 20.7 ) | | 6 | balance at end of year | $ 47.0 | $ 70.1 | $ 72.0 |

republic services , inc . notes to consolidated financial statements 2014 ( continued ) the following table summarizes the activity in our gross unrecognized tax benefits for the years ended december 31: ._| | | 2015 | 2014 | 2013 | |---:|:----------------------------------------------------------------------------|:---------------|:-------------|:---------------| | 0 | balance at beginning of year | $ 70.1 | $ 72.0 | $ 84.7 | | 1 | additions based on tax positions related to current year | 0.2 | 0.8 | 0.3 | | 2 | additions for tax positions of prior years | 1.4 | 5.0 | 11.4 | | 3 | reductions for tax positions of prior years | -10.2 ( 10.2 ) | -6.0 ( 6.0 ) | -2.4 ( 2.4 ) | | 4 | reductions for tax positions resulting from lapse of statute of limitations | -0.6 ( 0.6 ) | -0.2 ( 0.2 ) | -1.3 ( 1.3 ) | | 5 | settlements | -13.9 ( 13.9 ) | -1.5 ( 1.5 ) | -20.7 ( 20.7 ) | | 6 | balance at end of year | $ 47.0 | $ 70.1 | $ 72.0 |_during 2015 , we settled tax matters in various states and puerto rico which reduced our gross unrecognized tax benefits by $ 13.9 million . during 2014 , we settled tax matters in various jurisdictions and reduced our gross unrecognized tax benefits by $ 1.5 million . during 2013 , we settled with the irs appeals division and the joint committee on taxation our 2009 and 2010 tax years . the resolution of these tax periods in addition to various state tax resolutions during the year reduced our gross unrecognized tax benefits by $ 20.7 million . included in our gross unrecognized tax benefits as of december 31 , 2015 and 2014 are $ 30.5 million and $ 45.6 million of unrecognized tax benefits ( net of the federal benefit on state matters ) that , if recognized , would affect our effective income tax rate in future periods . we recognize interest and penalties as incurred within the provision for income taxes in our consolidated statements of income . related to the unrecognized tax benefits previously noted , we recorded interest expense of approximately $ 1.2 million during 2015 and , in total as of december 31 , 2015 , have recognized a liability for penalties of $ 0.5 million and interest of $ 10.3 million . during 2014 , we accrued interest of approximately $ 1.5 million and , in total as of december 31 , 2014 , had recognized a liability for penalties of $ 0.5 million and interest of $ 18.7 million . during 2013 , we accrued interest of approximately $ 1.2 million and , in total as of december 31 , 2013 , had recognized a liability for penalties of $ 0.5 million and interest of $ 17.0 million . gross unrecognized benefits that we expect to settle in the following twelve months are in the range of $ 0 to $ 10 million ; however , it is reasonably possible that the amount of unrecognized tax benefits may either increase or decrease in the next twelve months . we are currently under examination or administrative review by state and local taxing authorities for various tax years . these state audits are ongoing . we believe the recorded liabilities for uncertain tax positions are adequate . however , a significant assessment against us in excess of the liabilities recorded could have a material adverse effect on our consolidated financial position , results of operations or cash flows. .

2,015

126

RSG

Republic Services

Industrials

Environmental & Facilities Services

Phoenix, Arizona

2008-12-05

1,060,391

1998 (1981)

as of december 31 , 2015 what was the percentage decline in the gross unrecognized tax benefits from 2014 to 2015

-32.9%

divide(subtract(47.0, 70.1), 70.1)

republic services , inc . notes to consolidated financial statements 2014 ( continued ) the following table summarizes the activity in our gross unrecognized tax benefits for the years ended december 31: .

during 2015 , we settled tax matters in various states and puerto rico which reduced our gross unrecognized tax benefits by $ 13.9 million . during 2014 , we settled tax matters in various jurisdictions and reduced our gross unrecognized tax benefits by $ 1.5 million . during 2013 , we settled with the irs appeals division and the joint committee on taxation our 2009 and 2010 tax years . the resolution of these tax periods in addition to various state tax resolutions during the year reduced our gross unrecognized tax benefits by $ 20.7 million . included in our gross unrecognized tax benefits as of december 31 , 2015 and 2014 are $ 30.5 million and $ 45.6 million of unrecognized tax benefits ( net of the federal benefit on state matters ) that , if recognized , would affect our effective income tax rate in future periods . we recognize interest and penalties as incurred within the provision for income taxes in our consolidated statements of income . related to the unrecognized tax benefits previously noted , we recorded interest expense of approximately $ 1.2 million during 2015 and , in total as of december 31 , 2015 , have recognized a liability for penalties of $ 0.5 million and interest of $ 10.3 million . during 2014 , we accrued interest of approximately $ 1.5 million and , in total as of december 31 , 2014 , had recognized a liability for penalties of $ 0.5 million and interest of $ 18.7 million . during 2013 , we accrued interest of approximately $ 1.2 million and , in total as of december 31 , 2013 , had recognized a liability for penalties of $ 0.5 million and interest of $ 17.0 million . gross unrecognized benefits that we expect to settle in the following twelve months are in the range of $ 0 to $ 10 million ; however , it is reasonably possible that the amount of unrecognized tax benefits may either increase or decrease in the next twelve months . we are currently under examination or administrative review by state and local taxing authorities for various tax years . these state audits are ongoing . we believe the recorded liabilities for uncertain tax positions are adequate . however , a significant assessment against us in excess of the liabilities recorded could have a material adverse effect on our consolidated financial position , results of operations or cash flows. .

| | | 2015 | 2014 | 2013 | |---:|:----------------------------------------------------------------------------|:---------------|:-------------|:---------------| | 0 | balance at beginning of year | $ 70.1 | $ 72.0 | $ 84.7 | | 1 | additions based on tax positions related to current year | 0.2 | 0.8 | 0.3 | | 2 | additions for tax positions of prior years | 1.4 | 5.0 | 11.4 | | 3 | reductions for tax positions of prior years | -10.2 ( 10.2 ) | -6.0 ( 6.0 ) | -2.4 ( 2.4 ) | | 4 | reductions for tax positions resulting from lapse of statute of limitations | -0.6 ( 0.6 ) | -0.2 ( 0.2 ) | -1.3 ( 1.3 ) | | 5 | settlements | -13.9 ( 13.9 ) | -1.5 ( 1.5 ) | -20.7 ( 20.7 ) | | 6 | balance at end of year | $ 47.0 | $ 70.1 | $ 72.0 |

republic services , inc . notes to consolidated financial statements 2014 ( continued ) the following table summarizes the activity in our gross unrecognized tax benefits for the years ended december 31: ._| | | 2015 | 2014 | 2013 | |---:|:----------------------------------------------------------------------------|:---------------|:-------------|:---------------| | 0 | balance at beginning of year | $ 70.1 | $ 72.0 | $ 84.7 | | 1 | additions based on tax positions related to current year | 0.2 | 0.8 | 0.3 | | 2 | additions for tax positions of prior years | 1.4 | 5.0 | 11.4 | | 3 | reductions for tax positions of prior years | -10.2 ( 10.2 ) | -6.0 ( 6.0 ) | -2.4 ( 2.4 ) | | 4 | reductions for tax positions resulting from lapse of statute of limitations | -0.6 ( 0.6 ) | -0.2 ( 0.2 ) | -1.3 ( 1.3 ) | | 5 | settlements | -13.9 ( 13.9 ) | -1.5 ( 1.5 ) | -20.7 ( 20.7 ) | | 6 | balance at end of year | $ 47.0 | $ 70.1 | $ 72.0 |_during 2015 , we settled tax matters in various states and puerto rico which reduced our gross unrecognized tax benefits by $ 13.9 million . during 2014 , we settled tax matters in various jurisdictions and reduced our gross unrecognized tax benefits by $ 1.5 million . during 2013 , we settled with the irs appeals division and the joint committee on taxation our 2009 and 2010 tax years . the resolution of these tax periods in addition to various state tax resolutions during the year reduced our gross unrecognized tax benefits by $ 20.7 million . included in our gross unrecognized tax benefits as of december 31 , 2015 and 2014 are $ 30.5 million and $ 45.6 million of unrecognized tax benefits ( net of the federal benefit on state matters ) that , if recognized , would affect our effective income tax rate in future periods . we recognize interest and penalties as incurred within the provision for income taxes in our consolidated statements of income . related to the unrecognized tax benefits previously noted , we recorded interest expense of approximately $ 1.2 million during 2015 and , in total as of december 31 , 2015 , have recognized a liability for penalties of $ 0.5 million and interest of $ 10.3 million . during 2014 , we accrued interest of approximately $ 1.5 million and , in total as of december 31 , 2014 , had recognized a liability for penalties of $ 0.5 million and interest of $ 18.7 million . during 2013 , we accrued interest of approximately $ 1.2 million and , in total as of december 31 , 2013 , had recognized a liability for penalties of $ 0.5 million and interest of $ 17.0 million . gross unrecognized benefits that we expect to settle in the following twelve months are in the range of $ 0 to $ 10 million ; however , it is reasonably possible that the amount of unrecognized tax benefits may either increase or decrease in the next twelve months . we are currently under examination or administrative review by state and local taxing authorities for various tax years . these state audits are ongoing . we believe the recorded liabilities for uncertain tax positions are adequate . however , a significant assessment against us in excess of the liabilities recorded could have a material adverse effect on our consolidated financial position , results of operations or cash flows. .

2,015

126

RSG

Republic Services

Industrials

Environmental & Facilities Services

Phoenix, Arizona

2008-12-05

1,060,391

1998 (1981)

null

finqa272

what is the growth rate in the number of stores during 2011?

2.7%

divide(subtract(3460, 3369), 3369)

the following table sets forth information concerning increases in the total number of our aap stores during the past five years: .

( 1 ) does not include stores that opened as relocations of previously existing stores within the same general market area or substantial renovations of stores . store technology . our store-based information systems are comprised of a proprietary and integrated point of sale , electronic parts catalog , or epc , and store-level inventory management system ( collectively "store system" ) . information maintained by our store system is used to formulate pricing , marketing and merchandising strategies and to replenish inventory accurately and rapidly . our fully integrated system enables our store team members to assist our customers in their parts selection and ordering based on the year , make , model and engine type of their vehicles . our store system provides real-time inventory tracking at the store level allowing store team members to check the quantity of on-hand inventory for any sku , adjust stock levels for select items for store specific events , automatically process returns and defective merchandise , designate skus for cycle counts and track merchandise transfers . if a hard-to-find part or accessory is not available at one of our stores , the store system can determine whether the part is carried and in-stock through our hub or pdq ae networks or can be ordered directly from one of our vendors . available parts and accessories are then ordered electronically from another store , hub , pdq ae or directly from the vendor with immediate confirmation of price , availability and estimated delivery time . our centrally-based epc data management system enables us to reduce the time needed to ( i ) exchange data with our vendors and ( ii ) catalog and deliver updated , accurate parts information . we also support our store operations with additional proprietary systems and customer driven labor scheduling capabilities . all of these systems are tightly integrated and provide real-time , comprehensive information to store personnel , resulting in improved customer service levels , team member productivity and in-stock availability . we plan to start rolling out a new and enhanced epc in fiscal 2013 which is expected to simplify and improve the customer experience . among the improvements is a more efficient way to systematically identify add-on sales to ensure our customers have what they need to complete their automotive repair project . store support center merchandising . purchasing for virtually all of the merchandise for our stores is handled by our merchandise teams located in three primary locations : 2022 store support center in roanoke , virginia ; 2022 regional office in minneapolis , minnesota ; and 2022 global sourcing office in taipei , taiwan . our roanoke team is primarily responsible for the parts categories and our minnesota team is primarily responsible for accessories , oil and chemicals . our global sourcing team works closely with both teams . in fiscal 2012 , we purchased merchandise from approximately 450 vendors , with no single vendor accounting for more than 9% ( 9 % ) of purchases . our purchasing strategy involves negotiating agreements with most of our vendors to purchase merchandise over a specified period of time along with other terms , including pricing , payment terms and volume . the merchandising team has developed strong vendor relationships in the industry and , in a collaborative effort with our vendor partners , utilizes a category management process where we manage the mix of our product offerings to meet customer demand . we believe this process , which develops a customer-focused business plan for each merchandise category , and our global sourcing operation are critical to improving comparable store sales , gross margin and inventory productivity. .

| | | 2012 | 2011 | 2010 | 2009 | 2008 | |---:|:-----------------|-------:|:---------|:---------|:-----------|:-----------| | 0 | beginning stores | 3460 | 3369 | 3264 | 3243 | 3153 | | 1 | new stores ( 1 ) | 116 | 95 | 110 | 75 | 109 | | 2 | stores closed | 2014 | -4 ( 4 ) | -5 ( 5 ) | -54 ( 54 ) | -19 ( 19 ) | | 3 | ending stores | 3576 | 3460 | 3369 | 3264 | 3243 |

the following table sets forth information concerning increases in the total number of our aap stores during the past five years: ._| | | 2012 | 2011 | 2010 | 2009 | 2008 | |---:|:-----------------|-------:|:---------|:---------|:-----------|:-----------| | 0 | beginning stores | 3460 | 3369 | 3264 | 3243 | 3153 | | 1 | new stores ( 1 ) | 116 | 95 | 110 | 75 | 109 | | 2 | stores closed | 2014 | -4 ( 4 ) | -5 ( 5 ) | -54 ( 54 ) | -19 ( 19 ) | | 3 | ending stores | 3576 | 3460 | 3369 | 3264 | 3243 |_( 1 ) does not include stores that opened as relocations of previously existing stores within the same general market area or substantial renovations of stores . store technology . our store-based information systems are comprised of a proprietary and integrated point of sale , electronic parts catalog , or epc , and store-level inventory management system ( collectively "store system" ) . information maintained by our store system is used to formulate pricing , marketing and merchandising strategies and to replenish inventory accurately and rapidly . our fully integrated system enables our store team members to assist our customers in their parts selection and ordering based on the year , make , model and engine type of their vehicles . our store system provides real-time inventory tracking at the store level allowing store team members to check the quantity of on-hand inventory for any sku , adjust stock levels for select items for store specific events , automatically process returns and defective merchandise , designate skus for cycle counts and track merchandise transfers . if a hard-to-find part or accessory is not available at one of our stores , the store system can determine whether the part is carried and in-stock through our hub or pdq ae networks or can be ordered directly from one of our vendors . available parts and accessories are then ordered electronically from another store , hub , pdq ae or directly from the vendor with immediate confirmation of price , availability and estimated delivery time . our centrally-based epc data management system enables us to reduce the time needed to ( i ) exchange data with our vendors and ( ii ) catalog and deliver updated , accurate parts information . we also support our store operations with additional proprietary systems and customer driven labor scheduling capabilities . all of these systems are tightly integrated and provide real-time , comprehensive information to store personnel , resulting in improved customer service levels , team member productivity and in-stock availability . we plan to start rolling out a new and enhanced epc in fiscal 2013 which is expected to simplify and improve the customer experience . among the improvements is a more efficient way to systematically identify add-on sales to ensure our customers have what they need to complete their automotive repair project . store support center merchandising . purchasing for virtually all of the merchandise for our stores is handled by our merchandise teams located in three primary locations : 2022 store support center in roanoke , virginia ; 2022 regional office in minneapolis , minnesota ; and 2022 global sourcing office in taipei , taiwan . our roanoke team is primarily responsible for the parts categories and our minnesota team is primarily responsible for accessories , oil and chemicals . our global sourcing team works closely with both teams . in fiscal 2012 , we purchased merchandise from approximately 450 vendors , with no single vendor accounting for more than 9% ( 9 % ) of purchases . our purchasing strategy involves negotiating agreements with most of our vendors to purchase merchandise over a specified period of time along with other terms , including pricing , payment terms and volume . the merchandising team has developed strong vendor relationships in the industry and , in a collaborative effort with our vendor partners , utilizes a category management process where we manage the mix of our product offerings to meet customer demand . we believe this process , which develops a customer-focused business plan for each merchandise category , and our global sourcing operation are critical to improving comparable store sales , gross margin and inventory productivity. .

2,012

12

AAP

Advance Auto Parts, Inc.

Consumer Discretionary

Specialty Retail

Raleigh, NC

2015-01-01

1,158,449

1932

what is the growth rate in the number of stores during 2011?

2.7%

divide(subtract(3460, 3369), 3369)

the following table sets forth information concerning increases in the total number of our aap stores during the past five years: .

( 1 ) does not include stores that opened as relocations of previously existing stores within the same general market area or substantial renovations of stores . store technology . our store-based information systems are comprised of a proprietary and integrated point of sale , electronic parts catalog , or epc , and store-level inventory management system ( collectively "store system" ) . information maintained by our store system is used to formulate pricing , marketing and merchandising strategies and to replenish inventory accurately and rapidly . our fully integrated system enables our store team members to assist our customers in their parts selection and ordering based on the year , make , model and engine type of their vehicles . our store system provides real-time inventory tracking at the store level allowing store team members to check the quantity of on-hand inventory for any sku , adjust stock levels for select items for store specific events , automatically process returns and defective merchandise , designate skus for cycle counts and track merchandise transfers . if a hard-to-find part or accessory is not available at one of our stores , the store system can determine whether the part is carried and in-stock through our hub or pdq ae networks or can be ordered directly from one of our vendors . available parts and accessories are then ordered electronically from another store , hub , pdq ae or directly from the vendor with immediate confirmation of price , availability and estimated delivery time . our centrally-based epc data management system enables us to reduce the time needed to ( i ) exchange data with our vendors and ( ii ) catalog and deliver updated , accurate parts information . we also support our store operations with additional proprietary systems and customer driven labor scheduling capabilities . all of these systems are tightly integrated and provide real-time , comprehensive information to store personnel , resulting in improved customer service levels , team member productivity and in-stock availability . we plan to start rolling out a new and enhanced epc in fiscal 2013 which is expected to simplify and improve the customer experience . among the improvements is a more efficient way to systematically identify add-on sales to ensure our customers have what they need to complete their automotive repair project . store support center merchandising . purchasing for virtually all of the merchandise for our stores is handled by our merchandise teams located in three primary locations : 2022 store support center in roanoke , virginia ; 2022 regional office in minneapolis , minnesota ; and 2022 global sourcing office in taipei , taiwan . our roanoke team is primarily responsible for the parts categories and our minnesota team is primarily responsible for accessories , oil and chemicals . our global sourcing team works closely with both teams . in fiscal 2012 , we purchased merchandise from approximately 450 vendors , with no single vendor accounting for more than 9% ( 9 % ) of purchases . our purchasing strategy involves negotiating agreements with most of our vendors to purchase merchandise over a specified period of time along with other terms , including pricing , payment terms and volume . the merchandising team has developed strong vendor relationships in the industry and , in a collaborative effort with our vendor partners , utilizes a category management process where we manage the mix of our product offerings to meet customer demand . we believe this process , which develops a customer-focused business plan for each merchandise category , and our global sourcing operation are critical to improving comparable store sales , gross margin and inventory productivity. .

| | | 2012 | 2011 | 2010 | 2009 | 2008 | |---:|:-----------------|-------:|:---------|:---------|:-----------|:-----------| | 0 | beginning stores | 3460 | 3369 | 3264 | 3243 | 3153 | | 1 | new stores ( 1 ) | 116 | 95 | 110 | 75 | 109 | | 2 | stores closed | 2014 | -4 ( 4 ) | -5 ( 5 ) | -54 ( 54 ) | -19 ( 19 ) | | 3 | ending stores | 3576 | 3460 | 3369 | 3264 | 3243 |

the following table sets forth information concerning increases in the total number of our aap stores during the past five years: ._| | | 2012 | 2011 | 2010 | 2009 | 2008 | |---:|:-----------------|-------:|:---------|:---------|:-----------|:-----------| | 0 | beginning stores | 3460 | 3369 | 3264 | 3243 | 3153 | | 1 | new stores ( 1 ) | 116 | 95 | 110 | 75 | 109 | | 2 | stores closed | 2014 | -4 ( 4 ) | -5 ( 5 ) | -54 ( 54 ) | -19 ( 19 ) | | 3 | ending stores | 3576 | 3460 | 3369 | 3264 | 3243 |_( 1 ) does not include stores that opened as relocations of previously existing stores within the same general market area or substantial renovations of stores . store technology . our store-based information systems are comprised of a proprietary and integrated point of sale , electronic parts catalog , or epc , and store-level inventory management system ( collectively "store system" ) . information maintained by our store system is used to formulate pricing , marketing and merchandising strategies and to replenish inventory accurately and rapidly . our fully integrated system enables our store team members to assist our customers in their parts selection and ordering based on the year , make , model and engine type of their vehicles . our store system provides real-time inventory tracking at the store level allowing store team members to check the quantity of on-hand inventory for any sku , adjust stock levels for select items for store specific events , automatically process returns and defective merchandise , designate skus for cycle counts and track merchandise transfers . if a hard-to-find part or accessory is not available at one of our stores , the store system can determine whether the part is carried and in-stock through our hub or pdq ae networks or can be ordered directly from one of our vendors . available parts and accessories are then ordered electronically from another store , hub , pdq ae or directly from the vendor with immediate confirmation of price , availability and estimated delivery time . our centrally-based epc data management system enables us to reduce the time needed to ( i ) exchange data with our vendors and ( ii ) catalog and deliver updated , accurate parts information . we also support our store operations with additional proprietary systems and customer driven labor scheduling capabilities . all of these systems are tightly integrated and provide real-time , comprehensive information to store personnel , resulting in improved customer service levels , team member productivity and in-stock availability . we plan to start rolling out a new and enhanced epc in fiscal 2013 which is expected to simplify and improve the customer experience . among the improvements is a more efficient way to systematically identify add-on sales to ensure our customers have what they need to complete their automotive repair project . store support center merchandising . purchasing for virtually all of the merchandise for our stores is handled by our merchandise teams located in three primary locations : 2022 store support center in roanoke , virginia ; 2022 regional office in minneapolis , minnesota ; and 2022 global sourcing office in taipei , taiwan . our roanoke team is primarily responsible for the parts categories and our minnesota team is primarily responsible for accessories , oil and chemicals . our global sourcing team works closely with both teams . in fiscal 2012 , we purchased merchandise from approximately 450 vendors , with no single vendor accounting for more than 9% ( 9 % ) of purchases . our purchasing strategy involves negotiating agreements with most of our vendors to purchase merchandise over a specified period of time along with other terms , including pricing , payment terms and volume . the merchandising team has developed strong vendor relationships in the industry and , in a collaborative effort with our vendor partners , utilizes a category management process where we manage the mix of our product offerings to meet customer demand . we believe this process , which develops a customer-focused business plan for each merchandise category , and our global sourcing operation are critical to improving comparable store sales , gross margin and inventory productivity. .

2,012

12

AAP

Advance Auto Parts, Inc.

Consumer Discretionary

Specialty Retail

Raleigh, NC

2015-01-01

1,158,449

1932

null

finqa273

what portion of the company owned facilities are located in europe?

13.3%

divide(11, 83)

item 1b . unresolved staff comments . item 2 . properties . our corporate co-headquarters are located in pittsburgh , pennsylvania and chicago , illinois . our co-headquarters are leased and house our executive offices , certain u.s . business units , and our administrative , finance , and human resource functions . we maintain additional owned and leased offices throughout the regions in which we operate . we manufacture our products in our network of manufacturing and processing facilities located throughout the world . as of december 31 , 2016 , we operated 87 manufacturing and processing facilities . we own 83 and lease four of these facilities . our manufacturing and processing facilities count by segment as of december 31 , 2016 was: .

we maintain all of our manufacturing and processing facilities in good condition and believe they are suitable and are adequate for our present needs . we also enter into co-manufacturing arrangements with third parties if we determine it is advantageous to outsource the production of any of our products . in the fourth quarter of 2016 , we reorganized our segment structure to move our russia business from the rest of world segment to the europe segment . we have reflected this change in the table above . see note 18 , segment reporting , to the consolidated financial statements for additional information . several of our current manufacturing and processing facilities are scheduled to be closed within the next year . see note 3 , integration and restructuring expenses , to the consolidated financial statements for additional information . item 3 . legal proceedings . we are routinely involved in legal proceedings , claims , and governmental inquiries , inspections or investigations ( 201clegal matters 201d ) arising in the ordinary course of our business . on april 1 , 2015 , the commodity futures trading commission ( 201ccftc 201d ) filed a formal complaint against mondel 0113z international ( formerly known as kraft foods inc. ) and kraft in the u.s . district court for the northern district of illinois , eastern division , related to activities involving the trading of december 2011 wheat futures contracts . the complaint alleges that mondel 0113z international and kraft ( 1 ) manipulated or attempted to manipulate the wheat markets during the fall of 2011 , ( 2 ) violated position limit levels for wheat futures , and ( 3 ) engaged in non-competitive trades by trading both sides of exchange-for-physical chicago board of trade wheat contracts . as previously disclosed by kraft , these activities arose prior to the october 1 , 2012 spin-off of kraft by mondel 0113z international to its shareholders and involve the business now owned and operated by mondel 0113z international or its affiliates . the separation and distribution agreement between kraft and mondel 0113z international , dated as of september 27 , 2012 , governs the allocation of liabilities between mondel 0113z international and kraft and , accordingly , mondel 0113z international will predominantly bear the costs of this matter and any monetary penalties or other payments that the cftc may impose . we do not expect this matter to have a material adverse effect on our financial condition , results of operations , or business . while we cannot predict with certainty the results of legal matters in which we are currently involved or may in the future be involved , we do not expect that the ultimate costs to resolve any of the legal matters that are currently pending will have a material adverse effect on our financial condition or results of operations . item 4 . mine safety disclosures . not applicable. .

| | | owned | leased | |---:|:--------------|--------:|---------:| | 0 | united states | 43 | 2 | | 1 | canada | 3 | 2014 | | 2 | europe | 11 | 2014 | | 3 | rest of world | 26 | 2 |

item 1b . unresolved staff comments . item 2 . properties . our corporate co-headquarters are located in pittsburgh , pennsylvania and chicago , illinois . our co-headquarters are leased and house our executive offices , certain u.s . business units , and our administrative , finance , and human resource functions . we maintain additional owned and leased offices throughout the regions in which we operate . we manufacture our products in our network of manufacturing and processing facilities located throughout the world . as of december 31 , 2016 , we operated 87 manufacturing and processing facilities . we own 83 and lease four of these facilities . our manufacturing and processing facilities count by segment as of december 31 , 2016 was: ._| | | owned | leased | |---:|:--------------|--------:|---------:| | 0 | united states | 43 | 2 | | 1 | canada | 3 | 2014 | | 2 | europe | 11 | 2014 | | 3 | rest of world | 26 | 2 |_we maintain all of our manufacturing and processing facilities in good condition and believe they are suitable and are adequate for our present needs . we also enter into co-manufacturing arrangements with third parties if we determine it is advantageous to outsource the production of any of our products . in the fourth quarter of 2016 , we reorganized our segment structure to move our russia business from the rest of world segment to the europe segment . we have reflected this change in the table above . see note 18 , segment reporting , to the consolidated financial statements for additional information . several of our current manufacturing and processing facilities are scheduled to be closed within the next year . see note 3 , integration and restructuring expenses , to the consolidated financial statements for additional information . item 3 . legal proceedings . we are routinely involved in legal proceedings , claims , and governmental inquiries , inspections or investigations ( 201clegal matters 201d ) arising in the ordinary course of our business . on april 1 , 2015 , the commodity futures trading commission ( 201ccftc 201d ) filed a formal complaint against mondel 0113z international ( formerly known as kraft foods inc. ) and kraft in the u.s . district court for the northern district of illinois , eastern division , related to activities involving the trading of december 2011 wheat futures contracts . the complaint alleges that mondel 0113z international and kraft ( 1 ) manipulated or attempted to manipulate the wheat markets during the fall of 2011 , ( 2 ) violated position limit levels for wheat futures , and ( 3 ) engaged in non-competitive trades by trading both sides of exchange-for-physical chicago board of trade wheat contracts . as previously disclosed by kraft , these activities arose prior to the october 1 , 2012 spin-off of kraft by mondel 0113z international to its shareholders and involve the business now owned and operated by mondel 0113z international or its affiliates . the separation and distribution agreement between kraft and mondel 0113z international , dated as of september 27 , 2012 , governs the allocation of liabilities between mondel 0113z international and kraft and , accordingly , mondel 0113z international will predominantly bear the costs of this matter and any monetary penalties or other payments that the cftc may impose . we do not expect this matter to have a material adverse effect on our financial condition , results of operations , or business . while we cannot predict with certainty the results of legal matters in which we are currently involved or may in the future be involved , we do not expect that the ultimate costs to resolve any of the legal matters that are currently pending will have a material adverse effect on our financial condition or results of operations . item 4 . mine safety disclosures . not applicable. .

2,016

23

KHC

Kraft Heinz

Consumer Staples

Packaged Foods & Meats

Chicago, Illinois; Pittsburgh, Pennsylvania

2015-07-06

1,637,459

2015 (1869)

what portion of the company owned facilities are located in europe?

13.3%

divide(11, 83)

item 1b . unresolved staff comments . item 2 . properties . our corporate co-headquarters are located in pittsburgh , pennsylvania and chicago , illinois . our co-headquarters are leased and house our executive offices , certain u.s . business units , and our administrative , finance , and human resource functions . we maintain additional owned and leased offices throughout the regions in which we operate . we manufacture our products in our network of manufacturing and processing facilities located throughout the world . as of december 31 , 2016 , we operated 87 manufacturing and processing facilities . we own 83 and lease four of these facilities . our manufacturing and processing facilities count by segment as of december 31 , 2016 was: .

we maintain all of our manufacturing and processing facilities in good condition and believe they are suitable and are adequate for our present needs . we also enter into co-manufacturing arrangements with third parties if we determine it is advantageous to outsource the production of any of our products . in the fourth quarter of 2016 , we reorganized our segment structure to move our russia business from the rest of world segment to the europe segment . we have reflected this change in the table above . see note 18 , segment reporting , to the consolidated financial statements for additional information . several of our current manufacturing and processing facilities are scheduled to be closed within the next year . see note 3 , integration and restructuring expenses , to the consolidated financial statements for additional information . item 3 . legal proceedings . we are routinely involved in legal proceedings , claims , and governmental inquiries , inspections or investigations ( 201clegal matters 201d ) arising in the ordinary course of our business . on april 1 , 2015 , the commodity futures trading commission ( 201ccftc 201d ) filed a formal complaint against mondel 0113z international ( formerly known as kraft foods inc. ) and kraft in the u.s . district court for the northern district of illinois , eastern division , related to activities involving the trading of december 2011 wheat futures contracts . the complaint alleges that mondel 0113z international and kraft ( 1 ) manipulated or attempted to manipulate the wheat markets during the fall of 2011 , ( 2 ) violated position limit levels for wheat futures , and ( 3 ) engaged in non-competitive trades by trading both sides of exchange-for-physical chicago board of trade wheat contracts . as previously disclosed by kraft , these activities arose prior to the october 1 , 2012 spin-off of kraft by mondel 0113z international to its shareholders and involve the business now owned and operated by mondel 0113z international or its affiliates . the separation and distribution agreement between kraft and mondel 0113z international , dated as of september 27 , 2012 , governs the allocation of liabilities between mondel 0113z international and kraft and , accordingly , mondel 0113z international will predominantly bear the costs of this matter and any monetary penalties or other payments that the cftc may impose . we do not expect this matter to have a material adverse effect on our financial condition , results of operations , or business . while we cannot predict with certainty the results of legal matters in which we are currently involved or may in the future be involved , we do not expect that the ultimate costs to resolve any of the legal matters that are currently pending will have a material adverse effect on our financial condition or results of operations . item 4 . mine safety disclosures . not applicable. .

| | | owned | leased | |---:|:--------------|--------:|---------:| | 0 | united states | 43 | 2 | | 1 | canada | 3 | 2014 | | 2 | europe | 11 | 2014 | | 3 | rest of world | 26 | 2 |

item 1b . unresolved staff comments . item 2 . properties . our corporate co-headquarters are located in pittsburgh , pennsylvania and chicago , illinois . our co-headquarters are leased and house our executive offices , certain u.s . business units , and our administrative , finance , and human resource functions . we maintain additional owned and leased offices throughout the regions in which we operate . we manufacture our products in our network of manufacturing and processing facilities located throughout the world . as of december 31 , 2016 , we operated 87 manufacturing and processing facilities . we own 83 and lease four of these facilities . our manufacturing and processing facilities count by segment as of december 31 , 2016 was: ._| | | owned | leased | |---:|:--------------|--------:|---------:| | 0 | united states | 43 | 2 | | 1 | canada | 3 | 2014 | | 2 | europe | 11 | 2014 | | 3 | rest of world | 26 | 2 |_we maintain all of our manufacturing and processing facilities in good condition and believe they are suitable and are adequate for our present needs . we also enter into co-manufacturing arrangements with third parties if we determine it is advantageous to outsource the production of any of our products . in the fourth quarter of 2016 , we reorganized our segment structure to move our russia business from the rest of world segment to the europe segment . we have reflected this change in the table above . see note 18 , segment reporting , to the consolidated financial statements for additional information . several of our current manufacturing and processing facilities are scheduled to be closed within the next year . see note 3 , integration and restructuring expenses , to the consolidated financial statements for additional information . item 3 . legal proceedings . we are routinely involved in legal proceedings , claims , and governmental inquiries , inspections or investigations ( 201clegal matters 201d ) arising in the ordinary course of our business . on april 1 , 2015 , the commodity futures trading commission ( 201ccftc 201d ) filed a formal complaint against mondel 0113z international ( formerly known as kraft foods inc. ) and kraft in the u.s . district court for the northern district of illinois , eastern division , related to activities involving the trading of december 2011 wheat futures contracts . the complaint alleges that mondel 0113z international and kraft ( 1 ) manipulated or attempted to manipulate the wheat markets during the fall of 2011 , ( 2 ) violated position limit levels for wheat futures , and ( 3 ) engaged in non-competitive trades by trading both sides of exchange-for-physical chicago board of trade wheat contracts . as previously disclosed by kraft , these activities arose prior to the october 1 , 2012 spin-off of kraft by mondel 0113z international to its shareholders and involve the business now owned and operated by mondel 0113z international or its affiliates . the separation and distribution agreement between kraft and mondel 0113z international , dated as of september 27 , 2012 , governs the allocation of liabilities between mondel 0113z international and kraft and , accordingly , mondel 0113z international will predominantly bear the costs of this matter and any monetary penalties or other payments that the cftc may impose . we do not expect this matter to have a material adverse effect on our financial condition , results of operations , or business . while we cannot predict with certainty the results of legal matters in which we are currently involved or may in the future be involved , we do not expect that the ultimate costs to resolve any of the legal matters that are currently pending will have a material adverse effect on our financial condition or results of operations . item 4 . mine safety disclosures . not applicable. .

2,016

23

KHC

Kraft Heinz

Consumer Staples

Packaged Foods & Meats

Chicago, Illinois; Pittsburgh, Pennsylvania

2015-07-06

1,637,459

2015 (1869)

null

finqa274

what was the average price per share from november to december?

3.61

divide(add(3.24, 3.98), const_2)

repurchase of equity securities the following table provides information regarding our purchases of equity securities during the fourth quarter of 2008 : number of shares purchased average paid per share2 total number of shares purchased as part of publicly announced plans or programs maximum number of shares that may yet be purchased under the plans or programs .

total1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47022 $ 5.18 2014 2014 1 consists of restricted shares of our common stock withheld under the terms of grants under employee stock compensation plans to offset tax withholding obligations that occurred upon vesting and release of restricted shares during each month of the fourth quarter of 2008 ( the 201cwithheld shares 201d ) . 2 the average price per month of the withheld shares was calculated by dividing the aggregate value of the tax withholding obligations for each month by the aggregate number of shares of our common stock withheld each month. .

| | | total number of shares purchased | average price paid per share2 | total number of shares purchased as part of publicly announced plans or programs | maximum number ofshares that may yet be purchased under the plans or programs | |---:|:--------------|-----------------------------------:|:--------------------------------|-----------------------------------------------------------------------------------:|--------------------------------------------------------------------------------:| | 0 | october 1-31 | 29704 | $ 5.99 | 2014 | 2014 | | 1 | november 1-30 | 4468 | $ 3.24 | 2014 | 2014 | | 2 | december 1-31 | 12850 | $ 3.98 | 2014 | 2014 | | 3 | total1 | 47022 | $ 5.18 | 2014 | 2014 |

repurchase of equity securities the following table provides information regarding our purchases of equity securities during the fourth quarter of 2008 : number of shares purchased average paid per share2 total number of shares purchased as part of publicly announced plans or programs maximum number of shares that may yet be purchased under the plans or programs ._| | | total number of shares purchased | average price paid per share2 | total number of shares purchased as part of publicly announced plans or programs | maximum number ofshares that may yet be purchased under the plans or programs | |---:|:--------------|-----------------------------------:|:--------------------------------|-----------------------------------------------------------------------------------:|--------------------------------------------------------------------------------:| | 0 | october 1-31 | 29704 | $ 5.99 | 2014 | 2014 | | 1 | november 1-30 | 4468 | $ 3.24 | 2014 | 2014 | | 2 | december 1-31 | 12850 | $ 3.98 | 2014 | 2014 | | 3 | total1 | 47022 | $ 5.18 | 2014 | 2014 |_total1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47022 $ 5.18 2014 2014 1 consists of restricted shares of our common stock withheld under the terms of grants under employee stock compensation plans to offset tax withholding obligations that occurred upon vesting and release of restricted shares during each month of the fourth quarter of 2008 ( the 201cwithheld shares 201d ) . 2 the average price per month of the withheld shares was calculated by dividing the aggregate value of the tax withholding obligations for each month by the aggregate number of shares of our common stock withheld each month. .

2,008

21

IPG

Interpublic Group of Companies (The)

Communication Services

Advertising

New York City, New York

1992-10-01

51,644

1961 (1930)

what was the average price per share from november to december?

3.61

divide(add(3.24, 3.98), const_2)

repurchase of equity securities the following table provides information regarding our purchases of equity securities during the fourth quarter of 2008 : number of shares purchased average paid per share2 total number of shares purchased as part of publicly announced plans or programs maximum number of shares that may yet be purchased under the plans or programs .

total1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47022 $ 5.18 2014 2014 1 consists of restricted shares of our common stock withheld under the terms of grants under employee stock compensation plans to offset tax withholding obligations that occurred upon vesting and release of restricted shares during each month of the fourth quarter of 2008 ( the 201cwithheld shares 201d ) . 2 the average price per month of the withheld shares was calculated by dividing the aggregate value of the tax withholding obligations for each month by the aggregate number of shares of our common stock withheld each month. .

| | | total number of shares purchased | average price paid per share2 | total number of shares purchased as part of publicly announced plans or programs | maximum number ofshares that may yet be purchased under the plans or programs | |---:|:--------------|-----------------------------------:|:--------------------------------|-----------------------------------------------------------------------------------:|--------------------------------------------------------------------------------:| | 0 | october 1-31 | 29704 | $ 5.99 | 2014 | 2014 | | 1 | november 1-30 | 4468 | $ 3.24 | 2014 | 2014 | | 2 | december 1-31 | 12850 | $ 3.98 | 2014 | 2014 | | 3 | total1 | 47022 | $ 5.18 | 2014 | 2014 |

repurchase of equity securities the following table provides information regarding our purchases of equity securities during the fourth quarter of 2008 : number of shares purchased average paid per share2 total number of shares purchased as part of publicly announced plans or programs maximum number of shares that may yet be purchased under the plans or programs ._| | | total number of shares purchased | average price paid per share2 | total number of shares purchased as part of publicly announced plans or programs | maximum number ofshares that may yet be purchased under the plans or programs | |---:|:--------------|-----------------------------------:|:--------------------------------|-----------------------------------------------------------------------------------:|--------------------------------------------------------------------------------:| | 0 | october 1-31 | 29704 | $ 5.99 | 2014 | 2014 | | 1 | november 1-30 | 4468 | $ 3.24 | 2014 | 2014 | | 2 | december 1-31 | 12850 | $ 3.98 | 2014 | 2014 | | 3 | total1 | 47022 | $ 5.18 | 2014 | 2014 |_total1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47022 $ 5.18 2014 2014 1 consists of restricted shares of our common stock withheld under the terms of grants under employee stock compensation plans to offset tax withholding obligations that occurred upon vesting and release of restricted shares during each month of the fourth quarter of 2008 ( the 201cwithheld shares 201d ) . 2 the average price per month of the withheld shares was calculated by dividing the aggregate value of the tax withholding obligations for each month by the aggregate number of shares of our common stock withheld each month. .

2,008

21

IPG

Interpublic Group of Companies (The)

Communication Services

Advertising

New York City, New York

1992-10-01

51,644

1961 (1930)

null

finqa275

what is the gross carrying amount in millions of the company's purchased distressed loan portfolio at december 31 , 2010?

469

add(392, 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 .

( 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

what is the gross carrying amount in millions of the company's purchased distressed loan portfolio at december 31 , 2010?

469

add(392, 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 .

( 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

finqa276

including the shares repurchased under the december 2007 repo agreement , what was the total authorized shares ( in millions ) eligible for repurchase under the january 23 , 2008 repurchase authorization?\\n\\n

12.675

add(divide(675000, const_1000000), 12)

page 19 of 94 responded to the request for information pursuant to section 104 ( e ) of cercla . the usepa has initially estimated cleanup costs to be between $ 4 million and $ 5 million . based on the information available to the company at the present time , the company does not believe that this matter will have a material adverse effect upon the liquidity , results of operations or financial condition of the company . europe in january 2003 the german government passed legislation that imposed a mandatory deposit of 25 eurocents on all one-way packages containing beverages except milk , wine , fruit juices and certain alcoholic beverages . ball packaging europe gmbh ( bpe ) , together with certain other plaintiffs , contested the enactment of the mandatory deposit for non-returnable containers based on the german packaging regulation ( verpackungsverordnung ) in federal and state administrative court . all other proceedings have been terminated except for the determination of minimal court fees that are still outstanding in some cases , together with minimal ancillary legal fees . the relevant industries , including bpe and its competitors , have successfully set up a germany-wide return system for one-way beverage containers , which has been operational since may 1 , 2006 , the date required under the deposit legislation . item 4 . submission of matters to a vote of security holders there were no matters submitted to the security holders during the fourth quarter of 2007 . part ii item 5 . market for the registrant 2019s common stock and related stockholder matters ball corporation common stock ( bll ) is traded on the new york stock exchange and the chicago stock exchange . there were 5424 common shareholders of record on february 3 , 2008 . common stock repurchases the following table summarizes the company 2019s repurchases of its common stock during the quarter ended december 31 , 2007 . purchases of securities total number of shares purchased ( a ) average price paid per share total number of shares purchased as part of publicly announced plans or programs maximum number of shares that may yet be purchased under the plans or programs ( b ) .

( a ) includes open market purchases and/or shares retained by the company to settle employee withholding tax liabilities . ( b ) the company has an ongoing repurchase program for which shares are authorized for repurchase from time to time by ball 2019s board of directors . on january 23 , 2008 , ball's board of directors authorized the repurchase by the company of up to a total of 12 million shares of its common stock . this repurchase authorization replaces all previous authorizations . ( c ) does not include 675000 shares under a forward share repurchase agreement entered into in december 2007 and settled on january 7 , 2008 , for approximately $ 31 million . also does not include shares to be acquired in 2008 under an accelerated share repurchase program entered into in december 2007 and funded on january 7 , 2008. .

| | | total number of shares purchased ( a ) | average pricepaid per share | total number of shares purchased as part of publicly announced plans or programs | maximum number of shares that may yet be purchased under the plans or programs ( b ) | |---:|:--------------------------------|:-----------------------------------------|:------------------------------|-----------------------------------------------------------------------------------:|:---------------------------------------------------------------------------------------| | 0 | october 1 to october 28 2007 | 705292 | $ 53.53 | 705292 | 4904824 | | 1 | october 29 to november 25 2007 | 431170 | $ 48.11 | 431170 | 4473654 | | 2 | november 26 to december 31 2007 | 8310 ( c ) | $ 44.99 | 8310 | 4465344 | | 3 | total | 1144772 | $ 51.42 | 1144772 | |

page 19 of 94 responded to the request for information pursuant to section 104 ( e ) of cercla . the usepa has initially estimated cleanup costs to be between $ 4 million and $ 5 million . based on the information available to the company at the present time , the company does not believe that this matter will have a material adverse effect upon the liquidity , results of operations or financial condition of the company . europe in january 2003 the german government passed legislation that imposed a mandatory deposit of 25 eurocents on all one-way packages containing beverages except milk , wine , fruit juices and certain alcoholic beverages . ball packaging europe gmbh ( bpe ) , together with certain other plaintiffs , contested the enactment of the mandatory deposit for non-returnable containers based on the german packaging regulation ( verpackungsverordnung ) in federal and state administrative court . all other proceedings have been terminated except for the determination of minimal court fees that are still outstanding in some cases , together with minimal ancillary legal fees . the relevant industries , including bpe and its competitors , have successfully set up a germany-wide return system for one-way beverage containers , which has been operational since may 1 , 2006 , the date required under the deposit legislation . item 4 . submission of matters to a vote of security holders there were no matters submitted to the security holders during the fourth quarter of 2007 . part ii item 5 . market for the registrant 2019s common stock and related stockholder matters ball corporation common stock ( bll ) is traded on the new york stock exchange and the chicago stock exchange . there were 5424 common shareholders of record on february 3 , 2008 . common stock repurchases the following table summarizes the company 2019s repurchases of its common stock during the quarter ended december 31 , 2007 . purchases of securities total number of shares purchased ( a ) average price paid per share total number of shares purchased as part of publicly announced plans or programs maximum number of shares that may yet be purchased under the plans or programs ( b ) ._| | | total number of shares purchased ( a ) | average pricepaid per share | total number of shares purchased as part of publicly announced plans or programs | maximum number of shares that may yet be purchased under the plans or programs ( b ) | |---:|:--------------------------------|:-----------------------------------------|:------------------------------|-----------------------------------------------------------------------------------:|:---------------------------------------------------------------------------------------| | 0 | october 1 to october 28 2007 | 705292 | $ 53.53 | 705292 | 4904824 | | 1 | october 29 to november 25 2007 | 431170 | $ 48.11 | 431170 | 4473654 | | 2 | november 26 to december 31 2007 | 8310 ( c ) | $ 44.99 | 8310 | 4465344 | | 3 | total | 1144772 | $ 51.42 | 1144772 | |_( a ) includes open market purchases and/or shares retained by the company to settle employee withholding tax liabilities . ( b ) the company has an ongoing repurchase program for which shares are authorized for repurchase from time to time by ball 2019s board of directors . on january 23 , 2008 , ball's board of directors authorized the repurchase by the company of up to a total of 12 million shares of its common stock . this repurchase authorization replaces all previous authorizations . ( c ) does not include 675000 shares under a forward share repurchase agreement entered into in december 2007 and settled on january 7 , 2008 , for approximately $ 31 million . also does not include shares to be acquired in 2008 under an accelerated share repurchase program entered into in december 2007 and funded on january 7 , 2008. .

2,007

35

BLL

Ball Corporation

Materials

Containers & Packaging

Westminster, CO

1970-01-01

9,389

1880

including the shares repurchased under the december 2007 repo agreement , what was the total authorized shares ( in millions ) eligible for repurchase under the january 23 , 2008 repurchase authorization?\\n\\n

12.675

add(divide(675000, const_1000000), 12)

page 19 of 94 responded to the request for information pursuant to section 104 ( e ) of cercla . the usepa has initially estimated cleanup costs to be between $ 4 million and $ 5 million . based on the information available to the company at the present time , the company does not believe that this matter will have a material adverse effect upon the liquidity , results of operations or financial condition of the company . europe in january 2003 the german government passed legislation that imposed a mandatory deposit of 25 eurocents on all one-way packages containing beverages except milk , wine , fruit juices and certain alcoholic beverages . ball packaging europe gmbh ( bpe ) , together with certain other plaintiffs , contested the enactment of the mandatory deposit for non-returnable containers based on the german packaging regulation ( verpackungsverordnung ) in federal and state administrative court . all other proceedings have been terminated except for the determination of minimal court fees that are still outstanding in some cases , together with minimal ancillary legal fees . the relevant industries , including bpe and its competitors , have successfully set up a germany-wide return system for one-way beverage containers , which has been operational since may 1 , 2006 , the date required under the deposit legislation . item 4 . submission of matters to a vote of security holders there were no matters submitted to the security holders during the fourth quarter of 2007 . part ii item 5 . market for the registrant 2019s common stock and related stockholder matters ball corporation common stock ( bll ) is traded on the new york stock exchange and the chicago stock exchange . there were 5424 common shareholders of record on february 3 , 2008 . common stock repurchases the following table summarizes the company 2019s repurchases of its common stock during the quarter ended december 31 , 2007 . purchases of securities total number of shares purchased ( a ) average price paid per share total number of shares purchased as part of publicly announced plans or programs maximum number of shares that may yet be purchased under the plans or programs ( b ) .

( a ) includes open market purchases and/or shares retained by the company to settle employee withholding tax liabilities . ( b ) the company has an ongoing repurchase program for which shares are authorized for repurchase from time to time by ball 2019s board of directors . on january 23 , 2008 , ball's board of directors authorized the repurchase by the company of up to a total of 12 million shares of its common stock . this repurchase authorization replaces all previous authorizations . ( c ) does not include 675000 shares under a forward share repurchase agreement entered into in december 2007 and settled on january 7 , 2008 , for approximately $ 31 million . also does not include shares to be acquired in 2008 under an accelerated share repurchase program entered into in december 2007 and funded on january 7 , 2008. .

| | | total number of shares purchased ( a ) | average pricepaid per share | total number of shares purchased as part of publicly announced plans or programs | maximum number of shares that may yet be purchased under the plans or programs ( b ) | |---:|:--------------------------------|:-----------------------------------------|:------------------------------|-----------------------------------------------------------------------------------:|:---------------------------------------------------------------------------------------| | 0 | october 1 to october 28 2007 | 705292 | $ 53.53 | 705292 | 4904824 | | 1 | october 29 to november 25 2007 | 431170 | $ 48.11 | 431170 | 4473654 | | 2 | november 26 to december 31 2007 | 8310 ( c ) | $ 44.99 | 8310 | 4465344 | | 3 | total | 1144772 | $ 51.42 | 1144772 | |

page 19 of 94 responded to the request for information pursuant to section 104 ( e ) of cercla . the usepa has initially estimated cleanup costs to be between $ 4 million and $ 5 million . based on the information available to the company at the present time , the company does not believe that this matter will have a material adverse effect upon the liquidity , results of operations or financial condition of the company . europe in january 2003 the german government passed legislation that imposed a mandatory deposit of 25 eurocents on all one-way packages containing beverages except milk , wine , fruit juices and certain alcoholic beverages . ball packaging europe gmbh ( bpe ) , together with certain other plaintiffs , contested the enactment of the mandatory deposit for non-returnable containers based on the german packaging regulation ( verpackungsverordnung ) in federal and state administrative court . all other proceedings have been terminated except for the determination of minimal court fees that are still outstanding in some cases , together with minimal ancillary legal fees . the relevant industries , including bpe and its competitors , have successfully set up a germany-wide return system for one-way beverage containers , which has been operational since may 1 , 2006 , the date required under the deposit legislation . item 4 . submission of matters to a vote of security holders there were no matters submitted to the security holders during the fourth quarter of 2007 . part ii item 5 . market for the registrant 2019s common stock and related stockholder matters ball corporation common stock ( bll ) is traded on the new york stock exchange and the chicago stock exchange . there were 5424 common shareholders of record on february 3 , 2008 . common stock repurchases the following table summarizes the company 2019s repurchases of its common stock during the quarter ended december 31 , 2007 . purchases of securities total number of shares purchased ( a ) average price paid per share total number of shares purchased as part of publicly announced plans or programs maximum number of shares that may yet be purchased under the plans or programs ( b ) ._| | | total number of shares purchased ( a ) | average pricepaid per share | total number of shares purchased as part of publicly announced plans or programs | maximum number of shares that may yet be purchased under the plans or programs ( b ) | |---:|:--------------------------------|:-----------------------------------------|:------------------------------|-----------------------------------------------------------------------------------:|:---------------------------------------------------------------------------------------| | 0 | october 1 to october 28 2007 | 705292 | $ 53.53 | 705292 | 4904824 | | 1 | october 29 to november 25 2007 | 431170 | $ 48.11 | 431170 | 4473654 | | 2 | november 26 to december 31 2007 | 8310 ( c ) | $ 44.99 | 8310 | 4465344 | | 3 | total | 1144772 | $ 51.42 | 1144772 | |_( a ) includes open market purchases and/or shares retained by the company to settle employee withholding tax liabilities . ( b ) the company has an ongoing repurchase program for which shares are authorized for repurchase from time to time by ball 2019s board of directors . on january 23 , 2008 , ball's board of directors authorized the repurchase by the company of up to a total of 12 million shares of its common stock . this repurchase authorization replaces all previous authorizations . ( c ) does not include 675000 shares under a forward share repurchase agreement entered into in december 2007 and settled on january 7 , 2008 , for approximately $ 31 million . also does not include shares to be acquired in 2008 under an accelerated share repurchase program entered into in december 2007 and funded on january 7 , 2008. .

2,007

35

BLL

Ball Corporation

Materials

Containers & Packaging

Westminster, CO

1970-01-01

9,389

1880

null

finqa277

what was the percentage cumulative total shareholder return for ball corporation for the five year period ending 12/31/10?

78.93%

divide(subtract(178.93, const_100), const_100)

page 15 of 100 shareholder return performance the line graph below compares the annual percentage change in ball corporation 2019s cumulative total shareholder return on its common stock with the cumulative total return of the dow jones containers & packaging index and the s&p composite 500 stock index for the five-year period ended december 31 , 2010 . it assumes $ 100 was invested on december 31 , 2005 , and that all dividends were reinvested . the dow jones containers & packaging index total return has been weighted by market capitalization . total return analysis .

.

| | | 12/31/05 | 12/31/06 | 12/31/07 | 12/31/08 | 12/31/09 | 12/31/10 | |---:|:--------------------------------------------------------------------------------------------------------------------------------------------------|:--------------------------------------------------------------------------------------------------------------------------------------------------|:--------------------------------------------------------------------------------------------------------------------------------------------------|:--------------------------------------------------------------------------------------------------------------------------------------------------|:--------------------------------------------------------------------------------------------------------------------------------------------------|:--------------------------------------------------------------------------------------------------------------------------------------------------|:--------------------------------------------------------------------------------------------------------------------------------------------------| | 0 | ball corporation | $ 100.00 | $ 110.86 | $ 115.36 | $ 107.58 | $ 134.96 | $ 178.93 | | 1 | dj containers & packaging index | $ 100.00 | $ 112.09 | $ 119.63 | $ 75.00 | $ 105.34 | $ 123.56 | | 2 | s&p 500 index | $ 100.00 | $ 115.80 | $ 122.16 | $ 76.96 | $ 97.33 | $ 111.99 | | 3 | copyright a9 2011 standard & poor 2019s a division of the mcgraw-hill companies inc . all rights reserved . ( www.researchdatagroup.com/s&p.htm ) | copyright a9 2011 standard & poor 2019s a division of the mcgraw-hill companies inc . all rights reserved . ( www.researchdatagroup.com/s&p.htm ) | copyright a9 2011 standard & poor 2019s a division of the mcgraw-hill companies inc . all rights reserved . ( www.researchdatagroup.com/s&p.htm ) | copyright a9 2011 standard & poor 2019s a division of the mcgraw-hill companies inc . all rights reserved . ( www.researchdatagroup.com/s&p.htm ) | copyright a9 2011 standard & poor 2019s a division of the mcgraw-hill companies inc . all rights reserved . ( www.researchdatagroup.com/s&p.htm ) | copyright a9 2011 standard & poor 2019s a division of the mcgraw-hill companies inc . all rights reserved . ( www.researchdatagroup.com/s&p.htm ) | copyright a9 2011 standard & poor 2019s a division of the mcgraw-hill companies inc . all rights reserved . ( www.researchdatagroup.com/s&p.htm ) | | 4 | copyright a9 2011 dow jones & company . all rights reserved . | copyright a9 2011 dow jones & company . all rights reserved . | copyright a9 2011 dow jones & company . all rights reserved . | copyright a9 2011 dow jones & company . all rights reserved . | copyright a9 2011 dow jones & company . all rights reserved . | copyright a9 2011 dow jones & company . all rights reserved . | copyright a9 2011 dow jones & company . all rights reserved . |

page 15 of 100 shareholder return performance the line graph below compares the annual percentage change in ball corporation 2019s cumulative total shareholder return on its common stock with the cumulative total return of the dow jones containers & packaging index and the s&p composite 500 stock index for the five-year period ended december 31 , 2010 . it assumes $ 100 was invested on december 31 , 2005 , and that all dividends were reinvested . the dow jones containers & packaging index total return has been weighted by market capitalization . total return analysis ._| | | 12/31/05 | 12/31/06 | 12/31/07 | 12/31/08 | 12/31/09 | 12/31/10 | |---:|:--------------------------------------------------------------------------------------------------------------------------------------------------|:--------------------------------------------------------------------------------------------------------------------------------------------------|:--------------------------------------------------------------------------------------------------------------------------------------------------|:--------------------------------------------------------------------------------------------------------------------------------------------------|:--------------------------------------------------------------------------------------------------------------------------------------------------|:--------------------------------------------------------------------------------------------------------------------------------------------------|:--------------------------------------------------------------------------------------------------------------------------------------------------| | 0 | ball corporation | $ 100.00 | $ 110.86 | $ 115.36 | $ 107.58 | $ 134.96 | $ 178.93 | | 1 | dj containers & packaging index | $ 100.00 | $ 112.09 | $ 119.63 | $ 75.00 | $ 105.34 | $ 123.56 | | 2 | s&p 500 index | $ 100.00 | $ 115.80 | $ 122.16 | $ 76.96 | $ 97.33 | $ 111.99 | | 3 | copyright a9 2011 standard & poor 2019s a division of the mcgraw-hill companies inc . all rights reserved . ( www.researchdatagroup.com/s&p.htm ) | copyright a9 2011 standard & poor 2019s a division of the mcgraw-hill companies inc . all rights reserved . ( www.researchdatagroup.com/s&p.htm ) | copyright a9 2011 standard & poor 2019s a division of the mcgraw-hill companies inc . all rights reserved . ( www.researchdatagroup.com/s&p.htm ) | copyright a9 2011 standard & poor 2019s a division of the mcgraw-hill companies inc . all rights reserved . ( www.researchdatagroup.com/s&p.htm ) | copyright a9 2011 standard & poor 2019s a division of the mcgraw-hill companies inc . all rights reserved . ( www.researchdatagroup.com/s&p.htm ) | copyright a9 2011 standard & poor 2019s a division of the mcgraw-hill companies inc . all rights reserved . ( www.researchdatagroup.com/s&p.htm ) | copyright a9 2011 standard & poor 2019s a division of the mcgraw-hill companies inc . all rights reserved . ( www.researchdatagroup.com/s&p.htm ) | | 4 | copyright a9 2011 dow jones & company . all rights reserved . | copyright a9 2011 dow jones & company . all rights reserved . | copyright a9 2011 dow jones & company . all rights reserved . | copyright a9 2011 dow jones & company . all rights reserved . | copyright a9 2011 dow jones & company . all rights reserved . | copyright a9 2011 dow jones & company . all rights reserved . | copyright a9 2011 dow jones & company . all rights reserved . |_.

2,010

28

BLL

Ball Corporation

Materials

Containers & Packaging

Westminster, CO

1970-01-01

9,389

1880

what was the percentage cumulative total shareholder return for ball corporation for the five year period ending 12/31/10?

78.93%

divide(subtract(178.93, const_100), const_100)

page 15 of 100 shareholder return performance the line graph below compares the annual percentage change in ball corporation 2019s cumulative total shareholder return on its common stock with the cumulative total return of the dow jones containers & packaging index and the s&p composite 500 stock index for the five-year period ended december 31 , 2010 . it assumes $ 100 was invested on december 31 , 2005 , and that all dividends were reinvested . the dow jones containers & packaging index total return has been weighted by market capitalization . total return analysis .

.

| | | 12/31/05 | 12/31/06 | 12/31/07 | 12/31/08 | 12/31/09 | 12/31/10 | |---:|:--------------------------------------------------------------------------------------------------------------------------------------------------|:--------------------------------------------------------------------------------------------------------------------------------------------------|:--------------------------------------------------------------------------------------------------------------------------------------------------|:--------------------------------------------------------------------------------------------------------------------------------------------------|:--------------------------------------------------------------------------------------------------------------------------------------------------|:--------------------------------------------------------------------------------------------------------------------------------------------------|:--------------------------------------------------------------------------------------------------------------------------------------------------| | 0 | ball corporation | $ 100.00 | $ 110.86 | $ 115.36 | $ 107.58 | $ 134.96 | $ 178.93 | | 1 | dj containers & packaging index | $ 100.00 | $ 112.09 | $ 119.63 | $ 75.00 | $ 105.34 | $ 123.56 | | 2 | s&p 500 index | $ 100.00 | $ 115.80 | $ 122.16 | $ 76.96 | $ 97.33 | $ 111.99 | | 3 | copyright a9 2011 standard & poor 2019s a division of the mcgraw-hill companies inc . all rights reserved . ( www.researchdatagroup.com/s&p.htm ) | copyright a9 2011 standard & poor 2019s a division of the mcgraw-hill companies inc . all rights reserved . ( www.researchdatagroup.com/s&p.htm ) | copyright a9 2011 standard & poor 2019s a division of the mcgraw-hill companies inc . all rights reserved . ( www.researchdatagroup.com/s&p.htm ) | copyright a9 2011 standard & poor 2019s a division of the mcgraw-hill companies inc . all rights reserved . ( www.researchdatagroup.com/s&p.htm ) | copyright a9 2011 standard & poor 2019s a division of the mcgraw-hill companies inc . all rights reserved . ( www.researchdatagroup.com/s&p.htm ) | copyright a9 2011 standard & poor 2019s a division of the mcgraw-hill companies inc . all rights reserved . ( www.researchdatagroup.com/s&p.htm ) | copyright a9 2011 standard & poor 2019s a division of the mcgraw-hill companies inc . all rights reserved . ( www.researchdatagroup.com/s&p.htm ) | | 4 | copyright a9 2011 dow jones & company . all rights reserved . | copyright a9 2011 dow jones & company . all rights reserved . | copyright a9 2011 dow jones & company . all rights reserved . | copyright a9 2011 dow jones & company . all rights reserved . | copyright a9 2011 dow jones & company . all rights reserved . | copyright a9 2011 dow jones & company . all rights reserved . | copyright a9 2011 dow jones & company . all rights reserved . |

page 15 of 100 shareholder return performance the line graph below compares the annual percentage change in ball corporation 2019s cumulative total shareholder return on its common stock with the cumulative total return of the dow jones containers & packaging index and the s&p composite 500 stock index for the five-year period ended december 31 , 2010 . it assumes $ 100 was invested on december 31 , 2005 , and that all dividends were reinvested . the dow jones containers & packaging index total return has been weighted by market capitalization . total return analysis ._| | | 12/31/05 | 12/31/06 | 12/31/07 | 12/31/08 | 12/31/09 | 12/31/10 | |---:|:--------------------------------------------------------------------------------------------------------------------------------------------------|:--------------------------------------------------------------------------------------------------------------------------------------------------|:--------------------------------------------------------------------------------------------------------------------------------------------------|:--------------------------------------------------------------------------------------------------------------------------------------------------|:--------------------------------------------------------------------------------------------------------------------------------------------------|:--------------------------------------------------------------------------------------------------------------------------------------------------|:--------------------------------------------------------------------------------------------------------------------------------------------------| | 0 | ball corporation | $ 100.00 | $ 110.86 | $ 115.36 | $ 107.58 | $ 134.96 | $ 178.93 | | 1 | dj containers & packaging index | $ 100.00 | $ 112.09 | $ 119.63 | $ 75.00 | $ 105.34 | $ 123.56 | | 2 | s&p 500 index | $ 100.00 | $ 115.80 | $ 122.16 | $ 76.96 | $ 97.33 | $ 111.99 | | 3 | copyright a9 2011 standard & poor 2019s a division of the mcgraw-hill companies inc . all rights reserved . ( www.researchdatagroup.com/s&p.htm ) | copyright a9 2011 standard & poor 2019s a division of the mcgraw-hill companies inc . all rights reserved . ( www.researchdatagroup.com/s&p.htm ) | copyright a9 2011 standard & poor 2019s a division of the mcgraw-hill companies inc . all rights reserved . ( www.researchdatagroup.com/s&p.htm ) | copyright a9 2011 standard & poor 2019s a division of the mcgraw-hill companies inc . all rights reserved . ( www.researchdatagroup.com/s&p.htm ) | copyright a9 2011 standard & poor 2019s a division of the mcgraw-hill companies inc . all rights reserved . ( www.researchdatagroup.com/s&p.htm ) | copyright a9 2011 standard & poor 2019s a division of the mcgraw-hill companies inc . all rights reserved . ( www.researchdatagroup.com/s&p.htm ) | copyright a9 2011 standard & poor 2019s a division of the mcgraw-hill companies inc . all rights reserved . ( www.researchdatagroup.com/s&p.htm ) | | 4 | copyright a9 2011 dow jones & company . all rights reserved . | copyright a9 2011 dow jones & company . all rights reserved . | copyright a9 2011 dow jones & company . all rights reserved . | copyright a9 2011 dow jones & company . all rights reserved . | copyright a9 2011 dow jones & company . all rights reserved . | copyright a9 2011 dow jones & company . all rights reserved . | copyright a9 2011 dow jones & company . all rights reserved . |_.

2,010

28

BLL

Ball Corporation

Materials

Containers & Packaging

Westminster, CO

1970-01-01

9,389

1880

null

finqa278

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

-30%

divide(-380, 1271)

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 2013 and 2014?

-30%

divide(-380, 1271)

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

finqa279

what was the change in defined contribution plans expenses for the u.s . between 2015 and 2016 in millions?

2.3

subtract(42.5, 40.2)

zimmer biomet holdings , inc . and subsidiaries 2017 form 10-k annual report notes to consolidated financial statements ( continued ) the following table provides a reconciliation of the beginning and ending balances of our foreign pension plan assets measured at fair value that used significant unobservable inputs ( level 3 ) ( in millions ) : .

we expect that we will have no legally required minimum funding requirements in 2018 for the qualified u.s . and puerto rico defined benefit retirement plans , nor do we expect to voluntarily contribute to these plans during 2018 . contributions to foreign defined benefit plans are estimated to be $ 17.0 million in 2018 . we do not expect the assets in any of our plans to be returned to us in the next year . defined contribution plans we also sponsor defined contribution plans for substantially all of the u.s . and puerto rico employees and certain employees in other countries . the benefits offered under these plans are reflective of local customs and practices in the countries concerned . we expensed $ 47.9 million , $ 42.5 million and $ 40.2 million related to these plans for the years ended december 31 , 2017 , 2016 and 2015 , respectively . 15 . income taxes 2017 tax act : the president signed u.s . tax reform legislation ( 201c2017 tax act 201d ) on december 22 , 2017 , which is considered the enactment date . the 2017 tax act includes a broad range of provisions , many of which significantly differ from those contained in previous u.s . tax law . changes in tax law are accounted for in the period of enactment . as such , our 2017 consolidated financial statements reflect the immediate tax effect of the 2017 tax act . the 2017 tax act contains several key provisions including , among other things : 2022 a one-time tax on the mandatory deemed repatriation of post-1986 untaxed foreign earnings and profits ( e&p ) , referred to as the toll charge ; 2022 a reduction in the corporate income tax rate from 35 percent to 21 percent for tax years beginning after december 31 , 2022 the introduction of a new u.s . tax on certain off-shore earnings referred to as global intangible low-taxed income ( gilti ) at an effective tax rate of 10.5 percent for tax years beginning after december 31 , 2017 ( increasing to 13.125 percent for tax years beginning after december 31 , 2025 ) , with a partial offset by foreign tax credits ; and 2022 the introduction of a territorial tax system beginning in 2018 by providing a 100 percent dividend received deduction on certain qualified dividends from foreign subsidiaries . during the fourth quarter of 2017 , we recorded an income tax benefit of $ 1272.4 million , which was comprised of the following : 2022 income tax benefit of $ 715.0 million for the one-time deemed repatriation of foreign earnings . this is composed of a $ 1181.0 million benefit from the removal of a deferred tax liability we had recorded for the repatriation of foreign earnings prior to the 2017 tax act offset by $ 466.0 million for the toll charge recognized under the 2017 tax act . in accordance with the 2017 tax act , we expect to elect to pay the toll charge in installments over eight years . as of december 31 , 2017 , we have recorded current and non-current income tax liabilities related to the toll charge of $ 82.0 million and $ 384.0 million , respectively . 2022 an income tax benefit of $ 557.4 million , primarily related to the remeasurement of our deferred tax assets and liabilities at the enacted corporate income tax rate of 21 percent . the net benefit recorded was based on currently available information and interpretations made in applying the provisions of the 2017 tax act as of the time of filing this annual report on form 10-k . we further refined our estimates related to the impact of the 2017 tax act subsequent to the issuance of our earnings release for the fourth quarter of 2017 . in accordance with authoritative guidance issued by the sec , the income tax effect for certain aspects of the 2017 tax act represent provisional amounts for which our accounting is incomplete , but with respect to which a reasonable estimate could be determined and recorded during the fourth quarter of 2017 . the actual effects of the 2017 tax act and final amounts recorded may differ materially from our current estimate of provisional amounts due to , among other things , further interpretive guidance that may be issued by u.s . tax authorities or regulatory bodies , including the sec and the fasb . we will continue to analyze the 2017 tax act and any additional guidance that may be issued so we can finalize the full effects of applying the new legislation on our financial statements in the measurement period , which ends in the fourth quarter of 2018 . we continue to evaluate the impacts of the 2017 tax act and consider the amounts recorded to be provisional . in addition , we are still evaluating the gilti provisions of the 2017 tax act and their impact , if any , on our consolidated financial statements as of december 31 , 2017 . the fasb allows companies to adopt an accounting policy to either recognize deferred taxes for gilti or treat such as a tax cost in the year incurred . we have not yet determined which accounting policy to adopt because determining the impact of the gilti provisions requires analysis of our existing legal entity structure , the reversal of our u.s . gaap and u.s . tax basis differences in the assets and liabilities of our foreign subsidiaries , and our ability to offset any tax with foreign tax credits . as such , we did not record a deferred income tax .

| | | december 31 2017 | |---:|:-------------------------------|:-------------------| | 0 | beginning balance | $ 78.7 | | 1 | gains on assets sold | 0.3 | | 2 | change in fair value of assets | 3.8 | | 3 | net purchases and sales | 5.2 | | 4 | translation gain | 3.0 | | 5 | ending balance | $ 91.0 |

zimmer biomet holdings , inc . and subsidiaries 2017 form 10-k annual report notes to consolidated financial statements ( continued ) the following table provides a reconciliation of the beginning and ending balances of our foreign pension plan assets measured at fair value that used significant unobservable inputs ( level 3 ) ( in millions ) : ._| | | december 31 2017 | |---:|:-------------------------------|:-------------------| | 0 | beginning balance | $ 78.7 | | 1 | gains on assets sold | 0.3 | | 2 | change in fair value of assets | 3.8 | | 3 | net purchases and sales | 5.2 | | 4 | translation gain | 3.0 | | 5 | ending balance | $ 91.0 |_we expect that we will have no legally required minimum funding requirements in 2018 for the qualified u.s . and puerto rico defined benefit retirement plans , nor do we expect to voluntarily contribute to these plans during 2018 . contributions to foreign defined benefit plans are estimated to be $ 17.0 million in 2018 . we do not expect the assets in any of our plans to be returned to us in the next year . defined contribution plans we also sponsor defined contribution plans for substantially all of the u.s . and puerto rico employees and certain employees in other countries . the benefits offered under these plans are reflective of local customs and practices in the countries concerned . we expensed $ 47.9 million , $ 42.5 million and $ 40.2 million related to these plans for the years ended december 31 , 2017 , 2016 and 2015 , respectively . 15 . income taxes 2017 tax act : the president signed u.s . tax reform legislation ( 201c2017 tax act 201d ) on december 22 , 2017 , which is considered the enactment date . the 2017 tax act includes a broad range of provisions , many of which significantly differ from those contained in previous u.s . tax law . changes in tax law are accounted for in the period of enactment . as such , our 2017 consolidated financial statements reflect the immediate tax effect of the 2017 tax act . the 2017 tax act contains several key provisions including , among other things : 2022 a one-time tax on the mandatory deemed repatriation of post-1986 untaxed foreign earnings and profits ( e&p ) , referred to as the toll charge ; 2022 a reduction in the corporate income tax rate from 35 percent to 21 percent for tax years beginning after december 31 , 2022 the introduction of a new u.s . tax on certain off-shore earnings referred to as global intangible low-taxed income ( gilti ) at an effective tax rate of 10.5 percent for tax years beginning after december 31 , 2017 ( increasing to 13.125 percent for tax years beginning after december 31 , 2025 ) , with a partial offset by foreign tax credits ; and 2022 the introduction of a territorial tax system beginning in 2018 by providing a 100 percent dividend received deduction on certain qualified dividends from foreign subsidiaries . during the fourth quarter of 2017 , we recorded an income tax benefit of $ 1272.4 million , which was comprised of the following : 2022 income tax benefit of $ 715.0 million for the one-time deemed repatriation of foreign earnings . this is composed of a $ 1181.0 million benefit from the removal of a deferred tax liability we had recorded for the repatriation of foreign earnings prior to the 2017 tax act offset by $ 466.0 million for the toll charge recognized under the 2017 tax act . in accordance with the 2017 tax act , we expect to elect to pay the toll charge in installments over eight years . as of december 31 , 2017 , we have recorded current and non-current income tax liabilities related to the toll charge of $ 82.0 million and $ 384.0 million , respectively . 2022 an income tax benefit of $ 557.4 million , primarily related to the remeasurement of our deferred tax assets and liabilities at the enacted corporate income tax rate of 21 percent . the net benefit recorded was based on currently available information and interpretations made in applying the provisions of the 2017 tax act as of the time of filing this annual report on form 10-k . we further refined our estimates related to the impact of the 2017 tax act subsequent to the issuance of our earnings release for the fourth quarter of 2017 . in accordance with authoritative guidance issued by the sec , the income tax effect for certain aspects of the 2017 tax act represent provisional amounts for which our accounting is incomplete , but with respect to which a reasonable estimate could be determined and recorded during the fourth quarter of 2017 . the actual effects of the 2017 tax act and final amounts recorded may differ materially from our current estimate of provisional amounts due to , among other things , further interpretive guidance that may be issued by u.s . tax authorities or regulatory bodies , including the sec and the fasb . we will continue to analyze the 2017 tax act and any additional guidance that may be issued so we can finalize the full effects of applying the new legislation on our financial statements in the measurement period , which ends in the fourth quarter of 2018 . we continue to evaluate the impacts of the 2017 tax act and consider the amounts recorded to be provisional . in addition , we are still evaluating the gilti provisions of the 2017 tax act and their impact , if any , on our consolidated financial statements as of december 31 , 2017 . the fasb allows companies to adopt an accounting policy to either recognize deferred taxes for gilti or treat such as a tax cost in the year incurred . we have not yet determined which accounting policy to adopt because determining the impact of the gilti provisions requires analysis of our existing legal entity structure , the reversal of our u.s . gaap and u.s . tax basis differences in the assets and liabilities of our foreign subsidiaries , and our ability to offset any tax with foreign tax credits . as such , we did not record a deferred income tax .

2,017

71

ZBH

Zimmer Biomet

Health Care

Health Care Equipment

Warsaw, Indiana

2001-08-07

1,136,869

1927

what was the change in defined contribution plans expenses for the u.s . between 2015 and 2016 in millions?

2.3

subtract(42.5, 40.2)

zimmer biomet holdings , inc . and subsidiaries 2017 form 10-k annual report notes to consolidated financial statements ( continued ) the following table provides a reconciliation of the beginning and ending balances of our foreign pension plan assets measured at fair value that used significant unobservable inputs ( level 3 ) ( in millions ) : .

we expect that we will have no legally required minimum funding requirements in 2018 for the qualified u.s . and puerto rico defined benefit retirement plans , nor do we expect to voluntarily contribute to these plans during 2018 . contributions to foreign defined benefit plans are estimated to be $ 17.0 million in 2018 . we do not expect the assets in any of our plans to be returned to us in the next year . defined contribution plans we also sponsor defined contribution plans for substantially all of the u.s . and puerto rico employees and certain employees in other countries . the benefits offered under these plans are reflective of local customs and practices in the countries concerned . we expensed $ 47.9 million , $ 42.5 million and $ 40.2 million related to these plans for the years ended december 31 , 2017 , 2016 and 2015 , respectively . 15 . income taxes 2017 tax act : the president signed u.s . tax reform legislation ( 201c2017 tax act 201d ) on december 22 , 2017 , which is considered the enactment date . the 2017 tax act includes a broad range of provisions , many of which significantly differ from those contained in previous u.s . tax law . changes in tax law are accounted for in the period of enactment . as such , our 2017 consolidated financial statements reflect the immediate tax effect of the 2017 tax act . the 2017 tax act contains several key provisions including , among other things : 2022 a one-time tax on the mandatory deemed repatriation of post-1986 untaxed foreign earnings and profits ( e&p ) , referred to as the toll charge ; 2022 a reduction in the corporate income tax rate from 35 percent to 21 percent for tax years beginning after december 31 , 2022 the introduction of a new u.s . tax on certain off-shore earnings referred to as global intangible low-taxed income ( gilti ) at an effective tax rate of 10.5 percent for tax years beginning after december 31 , 2017 ( increasing to 13.125 percent for tax years beginning after december 31 , 2025 ) , with a partial offset by foreign tax credits ; and 2022 the introduction of a territorial tax system beginning in 2018 by providing a 100 percent dividend received deduction on certain qualified dividends from foreign subsidiaries . during the fourth quarter of 2017 , we recorded an income tax benefit of $ 1272.4 million , which was comprised of the following : 2022 income tax benefit of $ 715.0 million for the one-time deemed repatriation of foreign earnings . this is composed of a $ 1181.0 million benefit from the removal of a deferred tax liability we had recorded for the repatriation of foreign earnings prior to the 2017 tax act offset by $ 466.0 million for the toll charge recognized under the 2017 tax act . in accordance with the 2017 tax act , we expect to elect to pay the toll charge in installments over eight years . as of december 31 , 2017 , we have recorded current and non-current income tax liabilities related to the toll charge of $ 82.0 million and $ 384.0 million , respectively . 2022 an income tax benefit of $ 557.4 million , primarily related to the remeasurement of our deferred tax assets and liabilities at the enacted corporate income tax rate of 21 percent . the net benefit recorded was based on currently available information and interpretations made in applying the provisions of the 2017 tax act as of the time of filing this annual report on form 10-k . we further refined our estimates related to the impact of the 2017 tax act subsequent to the issuance of our earnings release for the fourth quarter of 2017 . in accordance with authoritative guidance issued by the sec , the income tax effect for certain aspects of the 2017 tax act represent provisional amounts for which our accounting is incomplete , but with respect to which a reasonable estimate could be determined and recorded during the fourth quarter of 2017 . the actual effects of the 2017 tax act and final amounts recorded may differ materially from our current estimate of provisional amounts due to , among other things , further interpretive guidance that may be issued by u.s . tax authorities or regulatory bodies , including the sec and the fasb . we will continue to analyze the 2017 tax act and any additional guidance that may be issued so we can finalize the full effects of applying the new legislation on our financial statements in the measurement period , which ends in the fourth quarter of 2018 . we continue to evaluate the impacts of the 2017 tax act and consider the amounts recorded to be provisional . in addition , we are still evaluating the gilti provisions of the 2017 tax act and their impact , if any , on our consolidated financial statements as of december 31 , 2017 . the fasb allows companies to adopt an accounting policy to either recognize deferred taxes for gilti or treat such as a tax cost in the year incurred . we have not yet determined which accounting policy to adopt because determining the impact of the gilti provisions requires analysis of our existing legal entity structure , the reversal of our u.s . gaap and u.s . tax basis differences in the assets and liabilities of our foreign subsidiaries , and our ability to offset any tax with foreign tax credits . as such , we did not record a deferred income tax .

| | | december 31 2017 | |---:|:-------------------------------|:-------------------| | 0 | beginning balance | $ 78.7 | | 1 | gains on assets sold | 0.3 | | 2 | change in fair value of assets | 3.8 | | 3 | net purchases and sales | 5.2 | | 4 | translation gain | 3.0 | | 5 | ending balance | $ 91.0 |

zimmer biomet holdings , inc . and subsidiaries 2017 form 10-k annual report notes to consolidated financial statements ( continued ) the following table provides a reconciliation of the beginning and ending balances of our foreign pension plan assets measured at fair value that used significant unobservable inputs ( level 3 ) ( in millions ) : ._| | | december 31 2017 | |---:|:-------------------------------|:-------------------| | 0 | beginning balance | $ 78.7 | | 1 | gains on assets sold | 0.3 | | 2 | change in fair value of assets | 3.8 | | 3 | net purchases and sales | 5.2 | | 4 | translation gain | 3.0 | | 5 | ending balance | $ 91.0 |_we expect that we will have no legally required minimum funding requirements in 2018 for the qualified u.s . and puerto rico defined benefit retirement plans , nor do we expect to voluntarily contribute to these plans during 2018 . contributions to foreign defined benefit plans are estimated to be $ 17.0 million in 2018 . we do not expect the assets in any of our plans to be returned to us in the next year . defined contribution plans we also sponsor defined contribution plans for substantially all of the u.s . and puerto rico employees and certain employees in other countries . the benefits offered under these plans are reflective of local customs and practices in the countries concerned . we expensed $ 47.9 million , $ 42.5 million and $ 40.2 million related to these plans for the years ended december 31 , 2017 , 2016 and 2015 , respectively . 15 . income taxes 2017 tax act : the president signed u.s . tax reform legislation ( 201c2017 tax act 201d ) on december 22 , 2017 , which is considered the enactment date . the 2017 tax act includes a broad range of provisions , many of which significantly differ from those contained in previous u.s . tax law . changes in tax law are accounted for in the period of enactment . as such , our 2017 consolidated financial statements reflect the immediate tax effect of the 2017 tax act . the 2017 tax act contains several key provisions including , among other things : 2022 a one-time tax on the mandatory deemed repatriation of post-1986 untaxed foreign earnings and profits ( e&p ) , referred to as the toll charge ; 2022 a reduction in the corporate income tax rate from 35 percent to 21 percent for tax years beginning after december 31 , 2022 the introduction of a new u.s . tax on certain off-shore earnings referred to as global intangible low-taxed income ( gilti ) at an effective tax rate of 10.5 percent for tax years beginning after december 31 , 2017 ( increasing to 13.125 percent for tax years beginning after december 31 , 2025 ) , with a partial offset by foreign tax credits ; and 2022 the introduction of a territorial tax system beginning in 2018 by providing a 100 percent dividend received deduction on certain qualified dividends from foreign subsidiaries . during the fourth quarter of 2017 , we recorded an income tax benefit of $ 1272.4 million , which was comprised of the following : 2022 income tax benefit of $ 715.0 million for the one-time deemed repatriation of foreign earnings . this is composed of a $ 1181.0 million benefit from the removal of a deferred tax liability we had recorded for the repatriation of foreign earnings prior to the 2017 tax act offset by $ 466.0 million for the toll charge recognized under the 2017 tax act . in accordance with the 2017 tax act , we expect to elect to pay the toll charge in installments over eight years . as of december 31 , 2017 , we have recorded current and non-current income tax liabilities related to the toll charge of $ 82.0 million and $ 384.0 million , respectively . 2022 an income tax benefit of $ 557.4 million , primarily related to the remeasurement of our deferred tax assets and liabilities at the enacted corporate income tax rate of 21 percent . the net benefit recorded was based on currently available information and interpretations made in applying the provisions of the 2017 tax act as of the time of filing this annual report on form 10-k . we further refined our estimates related to the impact of the 2017 tax act subsequent to the issuance of our earnings release for the fourth quarter of 2017 . in accordance with authoritative guidance issued by the sec , the income tax effect for certain aspects of the 2017 tax act represent provisional amounts for which our accounting is incomplete , but with respect to which a reasonable estimate could be determined and recorded during the fourth quarter of 2017 . the actual effects of the 2017 tax act and final amounts recorded may differ materially from our current estimate of provisional amounts due to , among other things , further interpretive guidance that may be issued by u.s . tax authorities or regulatory bodies , including the sec and the fasb . we will continue to analyze the 2017 tax act and any additional guidance that may be issued so we can finalize the full effects of applying the new legislation on our financial statements in the measurement period , which ends in the fourth quarter of 2018 . we continue to evaluate the impacts of the 2017 tax act and consider the amounts recorded to be provisional . in addition , we are still evaluating the gilti provisions of the 2017 tax act and their impact , if any , on our consolidated financial statements as of december 31 , 2017 . the fasb allows companies to adopt an accounting policy to either recognize deferred taxes for gilti or treat such as a tax cost in the year incurred . we have not yet determined which accounting policy to adopt because determining the impact of the gilti provisions requires analysis of our existing legal entity structure , the reversal of our u.s . gaap and u.s . tax basis differences in the assets and liabilities of our foreign subsidiaries , and our ability to offset any tax with foreign tax credits . as such , we did not record a deferred income tax .

2,017

71

ZBH

Zimmer Biomet

Health Care

Health Care Equipment

Warsaw, Indiana

2001-08-07

1,136,869

1927

null

finqa280

what percentage of total goodwill is attributable to retail bank reporting unit as december 31 , 2011?

2%

divide(40.6, 1934.2)

judgments the valuation of goodwill and other intangible assets depends on a number of factors , including estimates of future market growth and trends , forecasted revenue and costs , expected useful lives of the assets , appropriate discount rates and other variables . goodwill is allocated to reporting units , which are components of the business that are one level below operating segments . each of these reporting units is tested for impairment individually during the annual evaluation . there is no goodwill assigned to reporting units within the balance sheet management segment . the following table shows the amount of goodwill allocated to each of the reporting units in the trading and investing segment ( dollars in millions ) : .

in connection with our annual impairment test of goodwill , we concluded that the goodwill was not impaired as the fair value of the reporting units was in excess of the book value of those reporting units as of december 31 , 2011 . the fair value of the reporting units exceeded the book value of those reporting units by substantial amounts ( fair value as a percent of book value ranged from approximately 150% ( 150 % ) to 700% ( 700 % ) ) and therefore did not indicate a significant risk of goodwill impairment based on current projections and valuations . we also evaluate the remaining useful lives on intangible assets each reporting period to determine whether events and circumstances warrant a revision to the remaining period of amortization . effects if actual results differ if our estimates of fair value for the reporting units change due to changes in our business or other factors , we may determine that an impairment charge is necessary . estimates of fair value are determined based on a complex model using cash flows and company comparisons . if management 2019s estimates of future cash flows are inaccurate , the fair value determined could be inaccurate and impairment would not be recognized in a timely manner . intangible assets are amortized over their estimated useful lives . if changes in the estimated underlying revenue occur , impairment or a change in the remaining life may need to be recognized. .

| | reporting unit | december 31 2011 | |---:|:-----------------|:-------------------| | 0 | u.s . brokerage | $ 1751.2 | | 1 | capital markets | 142.4 | | 2 | retail bank | 40.6 | | 3 | total goodwill | $ 1934.2 |

judgments the valuation of goodwill and other intangible assets depends on a number of factors , including estimates of future market growth and trends , forecasted revenue and costs , expected useful lives of the assets , appropriate discount rates and other variables . goodwill is allocated to reporting units , which are components of the business that are one level below operating segments . each of these reporting units is tested for impairment individually during the annual evaluation . there is no goodwill assigned to reporting units within the balance sheet management segment . the following table shows the amount of goodwill allocated to each of the reporting units in the trading and investing segment ( dollars in millions ) : ._| | reporting unit | december 31 2011 | |---:|:-----------------|:-------------------| | 0 | u.s . brokerage | $ 1751.2 | | 1 | capital markets | 142.4 | | 2 | retail bank | 40.6 | | 3 | total goodwill | $ 1934.2 |_in connection with our annual impairment test of goodwill , we concluded that the goodwill was not impaired as the fair value of the reporting units was in excess of the book value of those reporting units as of december 31 , 2011 . the fair value of the reporting units exceeded the book value of those reporting units by substantial amounts ( fair value as a percent of book value ranged from approximately 150% ( 150 % ) to 700% ( 700 % ) ) and therefore did not indicate a significant risk of goodwill impairment based on current projections and valuations . we also evaluate the remaining useful lives on intangible assets each reporting period to determine whether events and circumstances warrant a revision to the remaining period of amortization . effects if actual results differ if our estimates of fair value for the reporting units change due to changes in our business or other factors , we may determine that an impairment charge is necessary . estimates of fair value are determined based on a complex model using cash flows and company comparisons . if management 2019s estimates of future cash flows are inaccurate , the fair value determined could be inaccurate and impairment would not be recognized in a timely manner . intangible assets are amortized over their estimated useful lives . if changes in the estimated underlying revenue occur , impairment or a change in the remaining life may need to be recognized. .

2,011

82

ETFC

E*TRADE Financial Corporation

Financials

Investment Banking & Brokerage

Arlington, VA

2004-01-01

1,015,780

1982

what percentage of total goodwill is attributable to retail bank reporting unit as december 31 , 2011?

2%

divide(40.6, 1934.2)

judgments the valuation of goodwill and other intangible assets depends on a number of factors , including estimates of future market growth and trends , forecasted revenue and costs , expected useful lives of the assets , appropriate discount rates and other variables . goodwill is allocated to reporting units , which are components of the business that are one level below operating segments . each of these reporting units is tested for impairment individually during the annual evaluation . there is no goodwill assigned to reporting units within the balance sheet management segment . the following table shows the amount of goodwill allocated to each of the reporting units in the trading and investing segment ( dollars in millions ) : .

in connection with our annual impairment test of goodwill , we concluded that the goodwill was not impaired as the fair value of the reporting units was in excess of the book value of those reporting units as of december 31 , 2011 . the fair value of the reporting units exceeded the book value of those reporting units by substantial amounts ( fair value as a percent of book value ranged from approximately 150% ( 150 % ) to 700% ( 700 % ) ) and therefore did not indicate a significant risk of goodwill impairment based on current projections and valuations . we also evaluate the remaining useful lives on intangible assets each reporting period to determine whether events and circumstances warrant a revision to the remaining period of amortization . effects if actual results differ if our estimates of fair value for the reporting units change due to changes in our business or other factors , we may determine that an impairment charge is necessary . estimates of fair value are determined based on a complex model using cash flows and company comparisons . if management 2019s estimates of future cash flows are inaccurate , the fair value determined could be inaccurate and impairment would not be recognized in a timely manner . intangible assets are amortized over their estimated useful lives . if changes in the estimated underlying revenue occur , impairment or a change in the remaining life may need to be recognized. .

| | reporting unit | december 31 2011 | |---:|:-----------------|:-------------------| | 0 | u.s . brokerage | $ 1751.2 | | 1 | capital markets | 142.4 | | 2 | retail bank | 40.6 | | 3 | total goodwill | $ 1934.2 |

judgments the valuation of goodwill and other intangible assets depends on a number of factors , including estimates of future market growth and trends , forecasted revenue and costs , expected useful lives of the assets , appropriate discount rates and other variables . goodwill is allocated to reporting units , which are components of the business that are one level below operating segments . each of these reporting units is tested for impairment individually during the annual evaluation . there is no goodwill assigned to reporting units within the balance sheet management segment . the following table shows the amount of goodwill allocated to each of the reporting units in the trading and investing segment ( dollars in millions ) : ._| | reporting unit | december 31 2011 | |---:|:-----------------|:-------------------| | 0 | u.s . brokerage | $ 1751.2 | | 1 | capital markets | 142.4 | | 2 | retail bank | 40.6 | | 3 | total goodwill | $ 1934.2 |_in connection with our annual impairment test of goodwill , we concluded that the goodwill was not impaired as the fair value of the reporting units was in excess of the book value of those reporting units as of december 31 , 2011 . the fair value of the reporting units exceeded the book value of those reporting units by substantial amounts ( fair value as a percent of book value ranged from approximately 150% ( 150 % ) to 700% ( 700 % ) ) and therefore did not indicate a significant risk of goodwill impairment based on current projections and valuations . we also evaluate the remaining useful lives on intangible assets each reporting period to determine whether events and circumstances warrant a revision to the remaining period of amortization . effects if actual results differ if our estimates of fair value for the reporting units change due to changes in our business or other factors , we may determine that an impairment charge is necessary . estimates of fair value are determined based on a complex model using cash flows and company comparisons . if management 2019s estimates of future cash flows are inaccurate , the fair value determined could be inaccurate and impairment would not be recognized in a timely manner . intangible assets are amortized over their estimated useful lives . if changes in the estimated underlying revenue occur , impairment or a change in the remaining life may need to be recognized. .

2,011

82

ETFC

E*TRADE Financial Corporation

Financials

Investment Banking & Brokerage

Arlington, VA

2004-01-01

1,015,780

1982

null

finqa281

what percent of total commitments expire in 1-3 years?

17%

divide(524, 3066)

page 38 five years . the amounts ultimately applied against our offset agreements are based on negotiations with the customer and generally require cash outlays that represent only a fraction of the original amount in the offset agreement . at december 31 , 2005 , we had outstanding offset agreements totaling $ 8.4 bil- lion , primarily related to our aeronautics segment , that extend through 2015 . to the extent we have entered into purchase obligations at december 31 , 2005 that also satisfy offset agree- ments , those amounts are included in the preceding table . we have entered into standby letter of credit agreements and other arrangements with financial institutions and custom- ers mainly relating to advances received from customers and/or the guarantee of future performance on some of our contracts . at december 31 , 2005 , we had outstanding letters of credit , surety bonds and guarantees , as follows : commitment expiration by period ( in millions ) commitment 1 year ( a ) years ( a ) standby letters of credit $ 2630 $ 2425 $ 171 $ 18 $ 16 .

( a ) approximately $ 2262 million and $ 49 million of standby letters of credit in the 201cless than 1 year 201d and 201c1-3 year 201d periods , respectively , and approximately $ 38 million of surety bonds in the 201cless than 1 year 201d period are expected to renew for additional periods until completion of the contractual obligation . included in the table above is approximately $ 200 million representing letter of credit and surety bond amounts for which related obligations or liabilities are also recorded in the bal- ance sheet , either as reductions of inventories , as customer advances and amounts in excess of costs incurred , or as other liabilities . approximately $ 2 billion of the standby letters of credit in the table above were to secure advance payments received under an f-16 contract from an international cus- tomer . these letters of credit are available for draw down in the event of our nonperformance , and the amount available will be reduced as certain events occur throughout the period of performance in accordance with the contract terms . similar to the letters of credit for the f-16 contract , other letters of credit and surety bonds are available for draw down in the event of our nonperformance . at december 31 , 2005 , we had no material off-balance sheet arrangements as those arrangements are defined by the securities and exchange commission ( sec ) . quantitative and qualitative disclosure of market risk our main exposure to market risk relates to interest rates and foreign currency exchange rates . our financial instruments that are subject to interest rate risk principally include fixed- rate and floating rate long-term debt . if interest rates were to change by plus or minus 1% ( 1 % ) , interest expense would increase or decrease by approximately $ 10 million related to our float- ing rate debt . the estimated fair values of the corporation 2019s long-term debt instruments at december 31 , 2005 aggregated approximately $ 6.2 billion , compared with a carrying amount of approximately $ 5.0 billion . the majority of our long-term debt obligations are not callable until maturity . we have used interest rate swaps in the past to manage our exposure to fixed and variable interest rates ; however , at year-end 2005 , we had no such agreements in place . we use forward foreign exchange contracts to manage our exposure to fluctuations in foreign currency exchange rates , and do so in ways that qualify for hedge accounting treatment . these exchange contracts hedge the fluctuations in cash flows associated with firm commitments or specific anticipated transactions contracted in foreign currencies , or hedge the exposure to rate changes affecting foreign currency denomi- nated assets or liabilities . related gains and losses on these contracts , to the extent they are effective hedges , are recog- nized in income at the same time the hedged transaction is recognized or when the hedged asset or liability is adjusted . to the extent the hedges are ineffective , gains and losses on the contracts are recognized in the current period . at december 31 , 2005 , the fair value of forward exchange con- tracts outstanding , as well as the amounts of gains and losses recorded during the year then ended , were not material . we do not hold or issue derivative financial instruments for trad- ing or speculative purposes . recent accounting pronouncements in december 2004 , the fasb issued fas 123 ( r ) , share- based payments , which will impact our net earnings and earn- ings per share and change the classification of certain elements of the statement of cash flows . fas 123 ( r ) requires stock options and other share-based payments made to employees to be accounted for as compensation expense and recorded at fair lockheed martin corporation management 2019s discussion and analysis of financial condition and results of operations december 31 , 2005 .

| | ( in millions ) | commitment expiration by period total commitment | commitment expiration by period less than 1 year ( a ) | commitment expiration by period 1-3 years ( a ) | commitment expiration by period 3-5 years | commitment expiration by period after 5 years | |---:|:--------------------------|:---------------------------------------------------|:---------------------------------------------------------|:--------------------------------------------------|:--------------------------------------------|:------------------------------------------------| | 0 | standby letters of credit | $ 2630 | $ 2425 | $ 171 | $ 18 | $ 16 | | 1 | surety bonds | 434 | 79 | 352 | 3 | 2014 | | 2 | guarantees | 2 | 1 | 1 | 2014 | 2014 | | 3 | total commitments | $ 3066 | $ 2505 | $ 524 | $ 21 | $ 16 |

page 38 five years . the amounts ultimately applied against our offset agreements are based on negotiations with the customer and generally require cash outlays that represent only a fraction of the original amount in the offset agreement . at december 31 , 2005 , we had outstanding offset agreements totaling $ 8.4 bil- lion , primarily related to our aeronautics segment , that extend through 2015 . to the extent we have entered into purchase obligations at december 31 , 2005 that also satisfy offset agree- ments , those amounts are included in the preceding table . we have entered into standby letter of credit agreements and other arrangements with financial institutions and custom- ers mainly relating to advances received from customers and/or the guarantee of future performance on some of our contracts . at december 31 , 2005 , we had outstanding letters of credit , surety bonds and guarantees , as follows : commitment expiration by period ( in millions ) commitment 1 year ( a ) years ( a ) standby letters of credit $ 2630 $ 2425 $ 171 $ 18 $ 16 ._| | ( in millions ) | commitment expiration by period total commitment | commitment expiration by period less than 1 year ( a ) | commitment expiration by period 1-3 years ( a ) | commitment expiration by period 3-5 years | commitment expiration by period after 5 years | |---:|:--------------------------|:---------------------------------------------------|:---------------------------------------------------------|:--------------------------------------------------|:--------------------------------------------|:------------------------------------------------| | 0 | standby letters of credit | $ 2630 | $ 2425 | $ 171 | $ 18 | $ 16 | | 1 | surety bonds | 434 | 79 | 352 | 3 | 2014 | | 2 | guarantees | 2 | 1 | 1 | 2014 | 2014 | | 3 | total commitments | $ 3066 | $ 2505 | $ 524 | $ 21 | $ 16 |_( a ) approximately $ 2262 million and $ 49 million of standby letters of credit in the 201cless than 1 year 201d and 201c1-3 year 201d periods , respectively , and approximately $ 38 million of surety bonds in the 201cless than 1 year 201d period are expected to renew for additional periods until completion of the contractual obligation . included in the table above is approximately $ 200 million representing letter of credit and surety bond amounts for which related obligations or liabilities are also recorded in the bal- ance sheet , either as reductions of inventories , as customer advances and amounts in excess of costs incurred , or as other liabilities . approximately $ 2 billion of the standby letters of credit in the table above were to secure advance payments received under an f-16 contract from an international cus- tomer . these letters of credit are available for draw down in the event of our nonperformance , and the amount available will be reduced as certain events occur throughout the period of performance in accordance with the contract terms . similar to the letters of credit for the f-16 contract , other letters of credit and surety bonds are available for draw down in the event of our nonperformance . at december 31 , 2005 , we had no material off-balance sheet arrangements as those arrangements are defined by the securities and exchange commission ( sec ) . quantitative and qualitative disclosure of market risk our main exposure to market risk relates to interest rates and foreign currency exchange rates . our financial instruments that are subject to interest rate risk principally include fixed- rate and floating rate long-term debt . if interest rates were to change by plus or minus 1% ( 1 % ) , interest expense would increase or decrease by approximately $ 10 million related to our float- ing rate debt . the estimated fair values of the corporation 2019s long-term debt instruments at december 31 , 2005 aggregated approximately $ 6.2 billion , compared with a carrying amount of approximately $ 5.0 billion . the majority of our long-term debt obligations are not callable until maturity . we have used interest rate swaps in the past to manage our exposure to fixed and variable interest rates ; however , at year-end 2005 , we had no such agreements in place . we use forward foreign exchange contracts to manage our exposure to fluctuations in foreign currency exchange rates , and do so in ways that qualify for hedge accounting treatment . these exchange contracts hedge the fluctuations in cash flows associated with firm commitments or specific anticipated transactions contracted in foreign currencies , or hedge the exposure to rate changes affecting foreign currency denomi- nated assets or liabilities . related gains and losses on these contracts , to the extent they are effective hedges , are recog- nized in income at the same time the hedged transaction is recognized or when the hedged asset or liability is adjusted . to the extent the hedges are ineffective , gains and losses on the contracts are recognized in the current period . at december 31 , 2005 , the fair value of forward exchange con- tracts outstanding , as well as the amounts of gains and losses recorded during the year then ended , were not material . we do not hold or issue derivative financial instruments for trad- ing or speculative purposes . recent accounting pronouncements in december 2004 , the fasb issued fas 123 ( r ) , share- based payments , which will impact our net earnings and earn- ings per share and change the classification of certain elements of the statement of cash flows . fas 123 ( r ) requires stock options and other share-based payments made to employees to be accounted for as compensation expense and recorded at fair lockheed martin corporation management 2019s discussion and analysis of financial condition and results of operations december 31 , 2005 .

2,005

40

LMT

Lockheed Martin

Industrials

Aerospace & Defense

Bethesda, Maryland

1957-03-04

936,468

1995

what percent of total commitments expire in 1-3 years?

17%

divide(524, 3066)

page 38 five years . the amounts ultimately applied against our offset agreements are based on negotiations with the customer and generally require cash outlays that represent only a fraction of the original amount in the offset agreement . at december 31 , 2005 , we had outstanding offset agreements totaling $ 8.4 bil- lion , primarily related to our aeronautics segment , that extend through 2015 . to the extent we have entered into purchase obligations at december 31 , 2005 that also satisfy offset agree- ments , those amounts are included in the preceding table . we have entered into standby letter of credit agreements and other arrangements with financial institutions and custom- ers mainly relating to advances received from customers and/or the guarantee of future performance on some of our contracts . at december 31 , 2005 , we had outstanding letters of credit , surety bonds and guarantees , as follows : commitment expiration by period ( in millions ) commitment 1 year ( a ) years ( a ) standby letters of credit $ 2630 $ 2425 $ 171 $ 18 $ 16 .

( a ) approximately $ 2262 million and $ 49 million of standby letters of credit in the 201cless than 1 year 201d and 201c1-3 year 201d periods , respectively , and approximately $ 38 million of surety bonds in the 201cless than 1 year 201d period are expected to renew for additional periods until completion of the contractual obligation . included in the table above is approximately $ 200 million representing letter of credit and surety bond amounts for which related obligations or liabilities are also recorded in the bal- ance sheet , either as reductions of inventories , as customer advances and amounts in excess of costs incurred , or as other liabilities . approximately $ 2 billion of the standby letters of credit in the table above were to secure advance payments received under an f-16 contract from an international cus- tomer . these letters of credit are available for draw down in the event of our nonperformance , and the amount available will be reduced as certain events occur throughout the period of performance in accordance with the contract terms . similar to the letters of credit for the f-16 contract , other letters of credit and surety bonds are available for draw down in the event of our nonperformance . at december 31 , 2005 , we had no material off-balance sheet arrangements as those arrangements are defined by the securities and exchange commission ( sec ) . quantitative and qualitative disclosure of market risk our main exposure to market risk relates to interest rates and foreign currency exchange rates . our financial instruments that are subject to interest rate risk principally include fixed- rate and floating rate long-term debt . if interest rates were to change by plus or minus 1% ( 1 % ) , interest expense would increase or decrease by approximately $ 10 million related to our float- ing rate debt . the estimated fair values of the corporation 2019s long-term debt instruments at december 31 , 2005 aggregated approximately $ 6.2 billion , compared with a carrying amount of approximately $ 5.0 billion . the majority of our long-term debt obligations are not callable until maturity . we have used interest rate swaps in the past to manage our exposure to fixed and variable interest rates ; however , at year-end 2005 , we had no such agreements in place . we use forward foreign exchange contracts to manage our exposure to fluctuations in foreign currency exchange rates , and do so in ways that qualify for hedge accounting treatment . these exchange contracts hedge the fluctuations in cash flows associated with firm commitments or specific anticipated transactions contracted in foreign currencies , or hedge the exposure to rate changes affecting foreign currency denomi- nated assets or liabilities . related gains and losses on these contracts , to the extent they are effective hedges , are recog- nized in income at the same time the hedged transaction is recognized or when the hedged asset or liability is adjusted . to the extent the hedges are ineffective , gains and losses on the contracts are recognized in the current period . at december 31 , 2005 , the fair value of forward exchange con- tracts outstanding , as well as the amounts of gains and losses recorded during the year then ended , were not material . we do not hold or issue derivative financial instruments for trad- ing or speculative purposes . recent accounting pronouncements in december 2004 , the fasb issued fas 123 ( r ) , share- based payments , which will impact our net earnings and earn- ings per share and change the classification of certain elements of the statement of cash flows . fas 123 ( r ) requires stock options and other share-based payments made to employees to be accounted for as compensation expense and recorded at fair lockheed martin corporation management 2019s discussion and analysis of financial condition and results of operations december 31 , 2005 .

| | ( in millions ) | commitment expiration by period total commitment | commitment expiration by period less than 1 year ( a ) | commitment expiration by period 1-3 years ( a ) | commitment expiration by period 3-5 years | commitment expiration by period after 5 years | |---:|:--------------------------|:---------------------------------------------------|:---------------------------------------------------------|:--------------------------------------------------|:--------------------------------------------|:------------------------------------------------| | 0 | standby letters of credit | $ 2630 | $ 2425 | $ 171 | $ 18 | $ 16 | | 1 | surety bonds | 434 | 79 | 352 | 3 | 2014 | | 2 | guarantees | 2 | 1 | 1 | 2014 | 2014 | | 3 | total commitments | $ 3066 | $ 2505 | $ 524 | $ 21 | $ 16 |

page 38 five years . the amounts ultimately applied against our offset agreements are based on negotiations with the customer and generally require cash outlays that represent only a fraction of the original amount in the offset agreement . at december 31 , 2005 , we had outstanding offset agreements totaling $ 8.4 bil- lion , primarily related to our aeronautics segment , that extend through 2015 . to the extent we have entered into purchase obligations at december 31 , 2005 that also satisfy offset agree- ments , those amounts are included in the preceding table . we have entered into standby letter of credit agreements and other arrangements with financial institutions and custom- ers mainly relating to advances received from customers and/or the guarantee of future performance on some of our contracts . at december 31 , 2005 , we had outstanding letters of credit , surety bonds and guarantees , as follows : commitment expiration by period ( in millions ) commitment 1 year ( a ) years ( a ) standby letters of credit $ 2630 $ 2425 $ 171 $ 18 $ 16 ._| | ( in millions ) | commitment expiration by period total commitment | commitment expiration by period less than 1 year ( a ) | commitment expiration by period 1-3 years ( a ) | commitment expiration by period 3-5 years | commitment expiration by period after 5 years | |---:|:--------------------------|:---------------------------------------------------|:---------------------------------------------------------|:--------------------------------------------------|:--------------------------------------------|:------------------------------------------------| | 0 | standby letters of credit | $ 2630 | $ 2425 | $ 171 | $ 18 | $ 16 | | 1 | surety bonds | 434 | 79 | 352 | 3 | 2014 | | 2 | guarantees | 2 | 1 | 1 | 2014 | 2014 | | 3 | total commitments | $ 3066 | $ 2505 | $ 524 | $ 21 | $ 16 |_( a ) approximately $ 2262 million and $ 49 million of standby letters of credit in the 201cless than 1 year 201d and 201c1-3 year 201d periods , respectively , and approximately $ 38 million of surety bonds in the 201cless than 1 year 201d period are expected to renew for additional periods until completion of the contractual obligation . included in the table above is approximately $ 200 million representing letter of credit and surety bond amounts for which related obligations or liabilities are also recorded in the bal- ance sheet , either as reductions of inventories , as customer advances and amounts in excess of costs incurred , or as other liabilities . approximately $ 2 billion of the standby letters of credit in the table above were to secure advance payments received under an f-16 contract from an international cus- tomer . these letters of credit are available for draw down in the event of our nonperformance , and the amount available will be reduced as certain events occur throughout the period of performance in accordance with the contract terms . similar to the letters of credit for the f-16 contract , other letters of credit and surety bonds are available for draw down in the event of our nonperformance . at december 31 , 2005 , we had no material off-balance sheet arrangements as those arrangements are defined by the securities and exchange commission ( sec ) . quantitative and qualitative disclosure of market risk our main exposure to market risk relates to interest rates and foreign currency exchange rates . our financial instruments that are subject to interest rate risk principally include fixed- rate and floating rate long-term debt . if interest rates were to change by plus or minus 1% ( 1 % ) , interest expense would increase or decrease by approximately $ 10 million related to our float- ing rate debt . the estimated fair values of the corporation 2019s long-term debt instruments at december 31 , 2005 aggregated approximately $ 6.2 billion , compared with a carrying amount of approximately $ 5.0 billion . the majority of our long-term debt obligations are not callable until maturity . we have used interest rate swaps in the past to manage our exposure to fixed and variable interest rates ; however , at year-end 2005 , we had no such agreements in place . we use forward foreign exchange contracts to manage our exposure to fluctuations in foreign currency exchange rates , and do so in ways that qualify for hedge accounting treatment . these exchange contracts hedge the fluctuations in cash flows associated with firm commitments or specific anticipated transactions contracted in foreign currencies , or hedge the exposure to rate changes affecting foreign currency denomi- nated assets or liabilities . related gains and losses on these contracts , to the extent they are effective hedges , are recog- nized in income at the same time the hedged transaction is recognized or when the hedged asset or liability is adjusted . to the extent the hedges are ineffective , gains and losses on the contracts are recognized in the current period . at december 31 , 2005 , the fair value of forward exchange con- tracts outstanding , as well as the amounts of gains and losses recorded during the year then ended , were not material . we do not hold or issue derivative financial instruments for trad- ing or speculative purposes . recent accounting pronouncements in december 2004 , the fasb issued fas 123 ( r ) , share- based payments , which will impact our net earnings and earn- ings per share and change the classification of certain elements of the statement of cash flows . fas 123 ( r ) requires stock options and other share-based payments made to employees to be accounted for as compensation expense and recorded at fair lockheed martin corporation management 2019s discussion and analysis of financial condition and results of operations december 31 , 2005 .

2,005

40

LMT

Lockheed Martin

Industrials

Aerospace & Defense

Bethesda, Maryland

1957-03-04

936,468

1995

null

finqa282

what portion of the future minimum operating lease payments is due in the next 12 months?

33.5%

divide(83382, 249038)

company has a contingent liability relating to proper disposition of these balances , which amounted to $ 1926.8 mil- lion at december 31 , 2007 . as a result of holding these customers 2019 assets in escrow , the company has ongoing programs for realizing economic benefits during the year through favorable borrowing and vendor arrangements with various banks . there were no loans outstanding as of december 31 , 2007 and these balances were invested in short term , high grade investments that minimize the risk to principal . leases the company leases certain of its property under leases which expire at various dates . several of these agreements include escalation clauses and provide for purchases and renewal options for periods ranging from one to five years . future minimum operating lease payments for leases with remaining terms greater than one year for each of the years in the five years ending december 31 , 2012 , and thereafter in the aggregate , are as follows ( in thousands ) : .

in addition , the company has operating lease commitments relating to office equipment and computer hardware with annual lease payments of approximately $ 16.0 million per year which renew on a short-term basis . rent expense incurred under all operating leases during the years ended december 31 , 2007 , 2006 and 2005 was $ 106.4 million , $ 81.5 million and $ 61.1 million , respectively . data processing and maintenance services agreements . the company has agreements with various vendors , which expire between 2008 and 2017 , for portions of its computer data processing operations and related functions . the company 2019s estimated aggregate contractual obligation remaining under these agreements was approximately $ 888.3 million as of december 31 , 2007 . however , this amount could be more or less depending on various factors such as the inflation rate , the introduction of significant new technologies , or changes in the company 2019s data processing needs . ( 17 ) employee benefit plans stock purchase plan prior to the certegy merger ( note 6 ) , fis employees participated in the fidelity national financial , inc . employee stock purchase plan ( espp ) . subsequent to the certegy merger , the company instituted its own plan with the same terms as the fidelity national financial , inc . plan . under the terms of both plans and subsequent amendments , eligible employees may voluntarily purchase , at current market prices , shares of fnf 2019s ( prior to the certegy merger ) or fis 2019s ( post certegy merger ) common stock through payroll deductions . pursuant to the espp , employees may contribute an amount between 3% ( 3 % ) and 15% ( 15 % ) of their base salary and certain commissions . shares purchased are allocated to employees based upon their contributions . the company contributes varying matching amounts as specified in the espp . the company recorded an expense of $ 15.2 million , $ 13.1 million and $ 11.1 million , respectively , for the years ended december 31 , 2007 , 2006 and 2005 relating to the participation of fis employees in the espp . fidelity national information services , inc . and subsidiaries and affiliates notes to consolidated and combined financial statements 2014 ( continued ) .

| | 2008 | 83382 | |---:|:-----------|:---------| | 0 | 2009 | 63060 | | 1 | 2010 | 35269 | | 2 | 2011 | 21598 | | 3 | 2012 | 14860 | | 4 | thereafter | 30869 | | 5 | total | $ 249038 |

company has a contingent liability relating to proper disposition of these balances , which amounted to $ 1926.8 mil- lion at december 31 , 2007 . as a result of holding these customers 2019 assets in escrow , the company has ongoing programs for realizing economic benefits during the year through favorable borrowing and vendor arrangements with various banks . there were no loans outstanding as of december 31 , 2007 and these balances were invested in short term , high grade investments that minimize the risk to principal . leases the company leases certain of its property under leases which expire at various dates . several of these agreements include escalation clauses and provide for purchases and renewal options for periods ranging from one to five years . future minimum operating lease payments for leases with remaining terms greater than one year for each of the years in the five years ending december 31 , 2012 , and thereafter in the aggregate , are as follows ( in thousands ) : ._| | 2008 | 83382 | |---:|:-----------|:---------| | 0 | 2009 | 63060 | | 1 | 2010 | 35269 | | 2 | 2011 | 21598 | | 3 | 2012 | 14860 | | 4 | thereafter | 30869 | | 5 | total | $ 249038 |_in addition , the company has operating lease commitments relating to office equipment and computer hardware with annual lease payments of approximately $ 16.0 million per year which renew on a short-term basis . rent expense incurred under all operating leases during the years ended december 31 , 2007 , 2006 and 2005 was $ 106.4 million , $ 81.5 million and $ 61.1 million , respectively . data processing and maintenance services agreements . the company has agreements with various vendors , which expire between 2008 and 2017 , for portions of its computer data processing operations and related functions . the company 2019s estimated aggregate contractual obligation remaining under these agreements was approximately $ 888.3 million as of december 31 , 2007 . however , this amount could be more or less depending on various factors such as the inflation rate , the introduction of significant new technologies , or changes in the company 2019s data processing needs . ( 17 ) employee benefit plans stock purchase plan prior to the certegy merger ( note 6 ) , fis employees participated in the fidelity national financial , inc . employee stock purchase plan ( espp ) . subsequent to the certegy merger , the company instituted its own plan with the same terms as the fidelity national financial , inc . plan . under the terms of both plans and subsequent amendments , eligible employees may voluntarily purchase , at current market prices , shares of fnf 2019s ( prior to the certegy merger ) or fis 2019s ( post certegy merger ) common stock through payroll deductions . pursuant to the espp , employees may contribute an amount between 3% ( 3 % ) and 15% ( 15 % ) of their base salary and certain commissions . shares purchased are allocated to employees based upon their contributions . the company contributes varying matching amounts as specified in the espp . the company recorded an expense of $ 15.2 million , $ 13.1 million and $ 11.1 million , respectively , for the years ended december 31 , 2007 , 2006 and 2005 relating to the participation of fis employees in the espp . fidelity national information services , inc . and subsidiaries and affiliates notes to consolidated and combined financial statements 2014 ( continued ) .

2,007

94

FIS

Fidelity National Information Services

Financials

Transaction & Payment Processing Services

Jacksonville, Florida

2006-11-10

1,136,893

1968

what portion of the future minimum operating lease payments is due in the next 12 months?

33.5%

divide(83382, 249038)

company has a contingent liability relating to proper disposition of these balances , which amounted to $ 1926.8 mil- lion at december 31 , 2007 . as a result of holding these customers 2019 assets in escrow , the company has ongoing programs for realizing economic benefits during the year through favorable borrowing and vendor arrangements with various banks . there were no loans outstanding as of december 31 , 2007 and these balances were invested in short term , high grade investments that minimize the risk to principal . leases the company leases certain of its property under leases which expire at various dates . several of these agreements include escalation clauses and provide for purchases and renewal options for periods ranging from one to five years . future minimum operating lease payments for leases with remaining terms greater than one year for each of the years in the five years ending december 31 , 2012 , and thereafter in the aggregate , are as follows ( in thousands ) : .

in addition , the company has operating lease commitments relating to office equipment and computer hardware with annual lease payments of approximately $ 16.0 million per year which renew on a short-term basis . rent expense incurred under all operating leases during the years ended december 31 , 2007 , 2006 and 2005 was $ 106.4 million , $ 81.5 million and $ 61.1 million , respectively . data processing and maintenance services agreements . the company has agreements with various vendors , which expire between 2008 and 2017 , for portions of its computer data processing operations and related functions . the company 2019s estimated aggregate contractual obligation remaining under these agreements was approximately $ 888.3 million as of december 31 , 2007 . however , this amount could be more or less depending on various factors such as the inflation rate , the introduction of significant new technologies , or changes in the company 2019s data processing needs . ( 17 ) employee benefit plans stock purchase plan prior to the certegy merger ( note 6 ) , fis employees participated in the fidelity national financial , inc . employee stock purchase plan ( espp ) . subsequent to the certegy merger , the company instituted its own plan with the same terms as the fidelity national financial , inc . plan . under the terms of both plans and subsequent amendments , eligible employees may voluntarily purchase , at current market prices , shares of fnf 2019s ( prior to the certegy merger ) or fis 2019s ( post certegy merger ) common stock through payroll deductions . pursuant to the espp , employees may contribute an amount between 3% ( 3 % ) and 15% ( 15 % ) of their base salary and certain commissions . shares purchased are allocated to employees based upon their contributions . the company contributes varying matching amounts as specified in the espp . the company recorded an expense of $ 15.2 million , $ 13.1 million and $ 11.1 million , respectively , for the years ended december 31 , 2007 , 2006 and 2005 relating to the participation of fis employees in the espp . fidelity national information services , inc . and subsidiaries and affiliates notes to consolidated and combined financial statements 2014 ( continued ) .

| | 2008 | 83382 | |---:|:-----------|:---------| | 0 | 2009 | 63060 | | 1 | 2010 | 35269 | | 2 | 2011 | 21598 | | 3 | 2012 | 14860 | | 4 | thereafter | 30869 | | 5 | total | $ 249038 |

company has a contingent liability relating to proper disposition of these balances , which amounted to $ 1926.8 mil- lion at december 31 , 2007 . as a result of holding these customers 2019 assets in escrow , the company has ongoing programs for realizing economic benefits during the year through favorable borrowing and vendor arrangements with various banks . there were no loans outstanding as of december 31 , 2007 and these balances were invested in short term , high grade investments that minimize the risk to principal . leases the company leases certain of its property under leases which expire at various dates . several of these agreements include escalation clauses and provide for purchases and renewal options for periods ranging from one to five years . future minimum operating lease payments for leases with remaining terms greater than one year for each of the years in the five years ending december 31 , 2012 , and thereafter in the aggregate , are as follows ( in thousands ) : ._| | 2008 | 83382 | |---:|:-----------|:---------| | 0 | 2009 | 63060 | | 1 | 2010 | 35269 | | 2 | 2011 | 21598 | | 3 | 2012 | 14860 | | 4 | thereafter | 30869 | | 5 | total | $ 249038 |_in addition , the company has operating lease commitments relating to office equipment and computer hardware with annual lease payments of approximately $ 16.0 million per year which renew on a short-term basis . rent expense incurred under all operating leases during the years ended december 31 , 2007 , 2006 and 2005 was $ 106.4 million , $ 81.5 million and $ 61.1 million , respectively . data processing and maintenance services agreements . the company has agreements with various vendors , which expire between 2008 and 2017 , for portions of its computer data processing operations and related functions . the company 2019s estimated aggregate contractual obligation remaining under these agreements was approximately $ 888.3 million as of december 31 , 2007 . however , this amount could be more or less depending on various factors such as the inflation rate , the introduction of significant new technologies , or changes in the company 2019s data processing needs . ( 17 ) employee benefit plans stock purchase plan prior to the certegy merger ( note 6 ) , fis employees participated in the fidelity national financial , inc . employee stock purchase plan ( espp ) . subsequent to the certegy merger , the company instituted its own plan with the same terms as the fidelity national financial , inc . plan . under the terms of both plans and subsequent amendments , eligible employees may voluntarily purchase , at current market prices , shares of fnf 2019s ( prior to the certegy merger ) or fis 2019s ( post certegy merger ) common stock through payroll deductions . pursuant to the espp , employees may contribute an amount between 3% ( 3 % ) and 15% ( 15 % ) of their base salary and certain commissions . shares purchased are allocated to employees based upon their contributions . the company contributes varying matching amounts as specified in the espp . the company recorded an expense of $ 15.2 million , $ 13.1 million and $ 11.1 million , respectively , for the years ended december 31 , 2007 , 2006 and 2005 relating to the participation of fis employees in the espp . fidelity national information services , inc . and subsidiaries and affiliates notes to consolidated and combined financial statements 2014 ( continued ) .

2,007

94

FIS

Fidelity National Information Services

Financials

Transaction & Payment Processing Services

Jacksonville, Florida

2006-11-10

1,136,893

1968

null

finqa283

considering the years 2016-2017 , what is the percentual increase observed in the payment amount per share?

28.45%

subtract(divide(1.49, 1.16), const_1)

humana inc . notes to consolidated financial statements 2014 ( continued ) 15 . stockholders 2019 equity dividends the following table provides details of dividend payments , excluding dividend equivalent rights , in 2015 , 2016 , and 2017 under our board approved quarterly cash dividend policy : payment amount per share amount ( in millions ) .

on november 2 , 2017 , the board declared a cash dividend of $ 0.40 per share that was paid on january 26 , 2018 to stockholders of record on december 29 , 2017 , for an aggregate amount of $ 55 million . declaration and payment of future quarterly dividends is at the discretion of our board and may be adjusted as business needs or market conditions change . stock repurchases in september 2014 , our board of directors replaced a previous share repurchase authorization of up to $ 1 billion ( of which $ 816 million remained unused ) with an authorization for repurchases of up to $ 2 billion of our common shares exclusive of shares repurchased in connection with employee stock plans , which expired on december 31 , 2016 . under the share repurchase authorization , shares may have been purchased from time to time at prevailing prices in the open market , by block purchases , through plans designed to comply with rule 10b5-1 under the securities exchange act of 1934 , as amended , or in privately-negotiated transactions ( including pursuant to accelerated share repurchase agreements with investment banks ) , subject to certain regulatory restrictions on volume , pricing , and timing . pursuant to the merger agreement , after july 2 , 2015 , we were prohibited from repurchasing any of our outstanding securities without the prior written consent of aetna , other than repurchases of shares of our common stock in connection with the exercise of outstanding stock options or the vesting or settlement of outstanding restricted stock awards . accordingly , as announced on july 3 , 2015 , we suspended our share repurchase program . on february 14 , 2017 , we and aetna agreed to mutually terminate the merger agreement . we also announced that the board had approved a new authorization for share repurchases of up to $ 2.25 billion of our common stock exclusive of shares repurchased in connection with employee stock plans , expiring on december 31 , 2017 . on february 16 , 2017 , we entered into an accelerated share repurchase agreement , the february 2017 asr , with goldman , sachs & co . llc , or goldman sachs , to repurchase $ 1.5 billion of our common stock as part of the $ 2.25 billion share repurchase program referred to above . on february 22 , 2017 , we made a payment of $ 1.5 billion to goldman sachs from available cash on hand and received an initial delivery of 5.83 million shares of our common stock from goldman sachs based on the then current market price of humana common stock . the payment to goldman sachs was recorded as a reduction to stockholders 2019 equity , consisting of a $ 1.2 billion increase in treasury stock , which reflected the value of the initial 5.83 million shares received upon initial settlement , and a $ 300 million decrease in capital in excess of par value , which reflected the value of stock held back by goldman sachs pending final settlement of the february 2017 asr . upon settlement of the february 2017 asr on august 28 , 2017 , we received an additional 0.84 million shares as determined by the average daily volume weighted-average share price of our common stock during the term of the agreement of $ 224.81 , bringing the total shares received under this program to 6.67 million . in addition , upon settlement we reclassified the $ 300 million value of stock initially held back by goldman sachs from capital in excess of par value to treasury stock . subsequent to settlement of the february 2017 asr , we repurchased an additional 3.04 million shares in the open market , utilizing the remaining $ 750 million of the $ 2.25 billion authorization prior to expiration. .

| | paymentdate | amountper share | totalamount ( in millions ) | |---:|--------------:|:------------------|:------------------------------| | 0 | 2015 | $ 1.14 | $ 170 | | 1 | 2016 | $ 1.16 | $ 172 | | 2 | 2017 | $ 1.49 | $ 216 |

humana inc . notes to consolidated financial statements 2014 ( continued ) 15 . stockholders 2019 equity dividends the following table provides details of dividend payments , excluding dividend equivalent rights , in 2015 , 2016 , and 2017 under our board approved quarterly cash dividend policy : payment amount per share amount ( in millions ) ._| | paymentdate | amountper share | totalamount ( in millions ) | |---:|--------------:|:------------------|:------------------------------| | 0 | 2015 | $ 1.14 | $ 170 | | 1 | 2016 | $ 1.16 | $ 172 | | 2 | 2017 | $ 1.49 | $ 216 |_on november 2 , 2017 , the board declared a cash dividend of $ 0.40 per share that was paid on january 26 , 2018 to stockholders of record on december 29 , 2017 , for an aggregate amount of $ 55 million . declaration and payment of future quarterly dividends is at the discretion of our board and may be adjusted as business needs or market conditions change . stock repurchases in september 2014 , our board of directors replaced a previous share repurchase authorization of up to $ 1 billion ( of which $ 816 million remained unused ) with an authorization for repurchases of up to $ 2 billion of our common shares exclusive of shares repurchased in connection with employee stock plans , which expired on december 31 , 2016 . under the share repurchase authorization , shares may have been purchased from time to time at prevailing prices in the open market , by block purchases , through plans designed to comply with rule 10b5-1 under the securities exchange act of 1934 , as amended , or in privately-negotiated transactions ( including pursuant to accelerated share repurchase agreements with investment banks ) , subject to certain regulatory restrictions on volume , pricing , and timing . pursuant to the merger agreement , after july 2 , 2015 , we were prohibited from repurchasing any of our outstanding securities without the prior written consent of aetna , other than repurchases of shares of our common stock in connection with the exercise of outstanding stock options or the vesting or settlement of outstanding restricted stock awards . accordingly , as announced on july 3 , 2015 , we suspended our share repurchase program . on february 14 , 2017 , we and aetna agreed to mutually terminate the merger agreement . we also announced that the board had approved a new authorization for share repurchases of up to $ 2.25 billion of our common stock exclusive of shares repurchased in connection with employee stock plans , expiring on december 31 , 2017 . on february 16 , 2017 , we entered into an accelerated share repurchase agreement , the february 2017 asr , with goldman , sachs & co . llc , or goldman sachs , to repurchase $ 1.5 billion of our common stock as part of the $ 2.25 billion share repurchase program referred to above . on february 22 , 2017 , we made a payment of $ 1.5 billion to goldman sachs from available cash on hand and received an initial delivery of 5.83 million shares of our common stock from goldman sachs based on the then current market price of humana common stock . the payment to goldman sachs was recorded as a reduction to stockholders 2019 equity , consisting of a $ 1.2 billion increase in treasury stock , which reflected the value of the initial 5.83 million shares received upon initial settlement , and a $ 300 million decrease in capital in excess of par value , which reflected the value of stock held back by goldman sachs pending final settlement of the february 2017 asr . upon settlement of the february 2017 asr on august 28 , 2017 , we received an additional 0.84 million shares as determined by the average daily volume weighted-average share price of our common stock during the term of the agreement of $ 224.81 , bringing the total shares received under this program to 6.67 million . in addition , upon settlement we reclassified the $ 300 million value of stock initially held back by goldman sachs from capital in excess of par value to treasury stock . subsequent to settlement of the february 2017 asr , we repurchased an additional 3.04 million shares in the open market , utilizing the remaining $ 750 million of the $ 2.25 billion authorization prior to expiration. .

2,017

133

HUM

Humana

Health Care

Managed Health Care

Louisville, Kentucky

2012-12-10

49,071

1961

considering the years 2016-2017 , what is the percentual increase observed in the payment amount per share?

28.45%

subtract(divide(1.49, 1.16), const_1)

humana inc . notes to consolidated financial statements 2014 ( continued ) 15 . stockholders 2019 equity dividends the following table provides details of dividend payments , excluding dividend equivalent rights , in 2015 , 2016 , and 2017 under our board approved quarterly cash dividend policy : payment amount per share amount ( in millions ) .

on november 2 , 2017 , the board declared a cash dividend of $ 0.40 per share that was paid on january 26 , 2018 to stockholders of record on december 29 , 2017 , for an aggregate amount of $ 55 million . declaration and payment of future quarterly dividends is at the discretion of our board and may be adjusted as business needs or market conditions change . stock repurchases in september 2014 , our board of directors replaced a previous share repurchase authorization of up to $ 1 billion ( of which $ 816 million remained unused ) with an authorization for repurchases of up to $ 2 billion of our common shares exclusive of shares repurchased in connection with employee stock plans , which expired on december 31 , 2016 . under the share repurchase authorization , shares may have been purchased from time to time at prevailing prices in the open market , by block purchases , through plans designed to comply with rule 10b5-1 under the securities exchange act of 1934 , as amended , or in privately-negotiated transactions ( including pursuant to accelerated share repurchase agreements with investment banks ) , subject to certain regulatory restrictions on volume , pricing , and timing . pursuant to the merger agreement , after july 2 , 2015 , we were prohibited from repurchasing any of our outstanding securities without the prior written consent of aetna , other than repurchases of shares of our common stock in connection with the exercise of outstanding stock options or the vesting or settlement of outstanding restricted stock awards . accordingly , as announced on july 3 , 2015 , we suspended our share repurchase program . on february 14 , 2017 , we and aetna agreed to mutually terminate the merger agreement . we also announced that the board had approved a new authorization for share repurchases of up to $ 2.25 billion of our common stock exclusive of shares repurchased in connection with employee stock plans , expiring on december 31 , 2017 . on february 16 , 2017 , we entered into an accelerated share repurchase agreement , the february 2017 asr , with goldman , sachs & co . llc , or goldman sachs , to repurchase $ 1.5 billion of our common stock as part of the $ 2.25 billion share repurchase program referred to above . on february 22 , 2017 , we made a payment of $ 1.5 billion to goldman sachs from available cash on hand and received an initial delivery of 5.83 million shares of our common stock from goldman sachs based on the then current market price of humana common stock . the payment to goldman sachs was recorded as a reduction to stockholders 2019 equity , consisting of a $ 1.2 billion increase in treasury stock , which reflected the value of the initial 5.83 million shares received upon initial settlement , and a $ 300 million decrease in capital in excess of par value , which reflected the value of stock held back by goldman sachs pending final settlement of the february 2017 asr . upon settlement of the february 2017 asr on august 28 , 2017 , we received an additional 0.84 million shares as determined by the average daily volume weighted-average share price of our common stock during the term of the agreement of $ 224.81 , bringing the total shares received under this program to 6.67 million . in addition , upon settlement we reclassified the $ 300 million value of stock initially held back by goldman sachs from capital in excess of par value to treasury stock . subsequent to settlement of the february 2017 asr , we repurchased an additional 3.04 million shares in the open market , utilizing the remaining $ 750 million of the $ 2.25 billion authorization prior to expiration. .

| | paymentdate | amountper share | totalamount ( in millions ) | |---:|--------------:|:------------------|:------------------------------| | 0 | 2015 | $ 1.14 | $ 170 | | 1 | 2016 | $ 1.16 | $ 172 | | 2 | 2017 | $ 1.49 | $ 216 |

humana inc . notes to consolidated financial statements 2014 ( continued ) 15 . stockholders 2019 equity dividends the following table provides details of dividend payments , excluding dividend equivalent rights , in 2015 , 2016 , and 2017 under our board approved quarterly cash dividend policy : payment amount per share amount ( in millions ) ._| | paymentdate | amountper share | totalamount ( in millions ) | |---:|--------------:|:------------------|:------------------------------| | 0 | 2015 | $ 1.14 | $ 170 | | 1 | 2016 | $ 1.16 | $ 172 | | 2 | 2017 | $ 1.49 | $ 216 |_on november 2 , 2017 , the board declared a cash dividend of $ 0.40 per share that was paid on january 26 , 2018 to stockholders of record on december 29 , 2017 , for an aggregate amount of $ 55 million . declaration and payment of future quarterly dividends is at the discretion of our board and may be adjusted as business needs or market conditions change . stock repurchases in september 2014 , our board of directors replaced a previous share repurchase authorization of up to $ 1 billion ( of which $ 816 million remained unused ) with an authorization for repurchases of up to $ 2 billion of our common shares exclusive of shares repurchased in connection with employee stock plans , which expired on december 31 , 2016 . under the share repurchase authorization , shares may have been purchased from time to time at prevailing prices in the open market , by block purchases , through plans designed to comply with rule 10b5-1 under the securities exchange act of 1934 , as amended , or in privately-negotiated transactions ( including pursuant to accelerated share repurchase agreements with investment banks ) , subject to certain regulatory restrictions on volume , pricing , and timing . pursuant to the merger agreement , after july 2 , 2015 , we were prohibited from repurchasing any of our outstanding securities without the prior written consent of aetna , other than repurchases of shares of our common stock in connection with the exercise of outstanding stock options or the vesting or settlement of outstanding restricted stock awards . accordingly , as announced on july 3 , 2015 , we suspended our share repurchase program . on february 14 , 2017 , we and aetna agreed to mutually terminate the merger agreement . we also announced that the board had approved a new authorization for share repurchases of up to $ 2.25 billion of our common stock exclusive of shares repurchased in connection with employee stock plans , expiring on december 31 , 2017 . on february 16 , 2017 , we entered into an accelerated share repurchase agreement , the february 2017 asr , with goldman , sachs & co . llc , or goldman sachs , to repurchase $ 1.5 billion of our common stock as part of the $ 2.25 billion share repurchase program referred to above . on february 22 , 2017 , we made a payment of $ 1.5 billion to goldman sachs from available cash on hand and received an initial delivery of 5.83 million shares of our common stock from goldman sachs based on the then current market price of humana common stock . the payment to goldman sachs was recorded as a reduction to stockholders 2019 equity , consisting of a $ 1.2 billion increase in treasury stock , which reflected the value of the initial 5.83 million shares received upon initial settlement , and a $ 300 million decrease in capital in excess of par value , which reflected the value of stock held back by goldman sachs pending final settlement of the february 2017 asr . upon settlement of the february 2017 asr on august 28 , 2017 , we received an additional 0.84 million shares as determined by the average daily volume weighted-average share price of our common stock during the term of the agreement of $ 224.81 , bringing the total shares received under this program to 6.67 million . in addition , upon settlement we reclassified the $ 300 million value of stock initially held back by goldman sachs from capital in excess of par value to treasury stock . subsequent to settlement of the february 2017 asr , we repurchased an additional 3.04 million shares in the open market , utilizing the remaining $ 750 million of the $ 2.25 billion authorization prior to expiration. .

2,017

133

HUM

Humana

Health Care

Managed Health Care

Louisville, Kentucky

2012-12-10

49,071

1961

null

finqa284

what percentage of total purchase commitments are due in 2013?

3%

divide(1486, 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 in 2013?

3%

divide(1486, 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

finqa285

what was the percent of the finished products to the total inventory

24.03%

divide(988.1, 4111.8)

note 6 : inventories we use the last-in , first-out ( lifo ) method for the majority of our inventories located in the continental u.s . other inventories are valued by the first-in , first-out ( fifo ) method . fifo cost approximates current replacement cost . inventories measured using lifo must be valued at the lower of cost or market . inventories measured using fifo must be valued at the lower of cost or net realizable value . inventories at december 31 consisted of the following: .

inventories valued under the lifo method comprised $ 1.57 billion and $ 1.56 billion of total inventories at december 31 , 2018 and 2017 , respectively . note 7 : financial instruments financial instruments that potentially subject us to credit risk consist principally of trade receivables and interest- bearing investments . wholesale distributors of life-science products account for a substantial portion of our trade receivables ; collateral is generally not required . we seek to mitigate the risk associated with this concentration through our ongoing credit-review procedures and insurance . a large portion of our cash is held by a few major financial institutions . we monitor our exposures with these institutions and do not expect any of these institutions to fail to meet their obligations . major financial institutions represent the largest component of our investments in corporate debt securities . in accordance with documented corporate risk-management policies , we monitor the amount of credit exposure to any one financial institution or corporate issuer . we are exposed to credit-related losses in the event of nonperformance by counterparties to risk-management instruments but do not expect any counterparties to fail to meet their obligations given their high credit ratings . we consider all highly liquid investments with a maturity of three months or less from the date of purchase to be cash equivalents . the cost of these investments approximates fair value . our equity investments are accounted for using three different methods depending on the type of equity investment : 2022 investments in companies over which we have significant influence but not a controlling interest are accounted for using the equity method , with our share of earnings or losses reported in other-net , ( income ) expense . 2022 for equity investments that do not have readily determinable fair values , we measure these investments at cost , less any impairment , plus or minus changes resulting from observable price changes in orderly transactions for the identical or similar investment of the same issuer . any change in recorded value is recorded in other-net , ( income ) expense . 2022 our public equity investments are measured and carried at fair value . any change in fair value is recognized in other-net , ( income ) expense . we review equity investments other than public equity investments for indications of impairment on a regular basis . our derivative activities are initiated within the guidelines of documented corporate risk-management policies and are intended to offset losses and gains on the assets , liabilities , and transactions being hedged . management reviews the correlation and effectiveness of our derivatives on a quarterly basis. .

| | | 2018 | 2017 | |---:|:----------------------------------------|:---------------|:---------| | 0 | finished products | $ 988.1 | $ 1211.4 | | 1 | work in process | 2628.2 | 2697.7 | | 2 | raw materials and supplies | 506.5 | 488.8 | | 3 | total ( approximates replacement cost ) | 4122.8 | 4397.9 | | 4 | increase ( reduction ) to lifo cost | -11.0 ( 11.0 ) | 60.4 | | 5 | inventories | $ 4111.8 | $ 4458.3 |

note 6 : inventories we use the last-in , first-out ( lifo ) method for the majority of our inventories located in the continental u.s . other inventories are valued by the first-in , first-out ( fifo ) method . fifo cost approximates current replacement cost . inventories measured using lifo must be valued at the lower of cost or market . inventories measured using fifo must be valued at the lower of cost or net realizable value . inventories at december 31 consisted of the following: ._| | | 2018 | 2017 | |---:|:----------------------------------------|:---------------|:---------| | 0 | finished products | $ 988.1 | $ 1211.4 | | 1 | work in process | 2628.2 | 2697.7 | | 2 | raw materials and supplies | 506.5 | 488.8 | | 3 | total ( approximates replacement cost ) | 4122.8 | 4397.9 | | 4 | increase ( reduction ) to lifo cost | -11.0 ( 11.0 ) | 60.4 | | 5 | inventories | $ 4111.8 | $ 4458.3 |_inventories valued under the lifo method comprised $ 1.57 billion and $ 1.56 billion of total inventories at december 31 , 2018 and 2017 , respectively . note 7 : financial instruments financial instruments that potentially subject us to credit risk consist principally of trade receivables and interest- bearing investments . wholesale distributors of life-science products account for a substantial portion of our trade receivables ; collateral is generally not required . we seek to mitigate the risk associated with this concentration through our ongoing credit-review procedures and insurance . a large portion of our cash is held by a few major financial institutions . we monitor our exposures with these institutions and do not expect any of these institutions to fail to meet their obligations . major financial institutions represent the largest component of our investments in corporate debt securities . in accordance with documented corporate risk-management policies , we monitor the amount of credit exposure to any one financial institution or corporate issuer . we are exposed to credit-related losses in the event of nonperformance by counterparties to risk-management instruments but do not expect any counterparties to fail to meet their obligations given their high credit ratings . we consider all highly liquid investments with a maturity of three months or less from the date of purchase to be cash equivalents . the cost of these investments approximates fair value . our equity investments are accounted for using three different methods depending on the type of equity investment : 2022 investments in companies over which we have significant influence but not a controlling interest are accounted for using the equity method , with our share of earnings or losses reported in other-net , ( income ) expense . 2022 for equity investments that do not have readily determinable fair values , we measure these investments at cost , less any impairment , plus or minus changes resulting from observable price changes in orderly transactions for the identical or similar investment of the same issuer . any change in recorded value is recorded in other-net , ( income ) expense . 2022 our public equity investments are measured and carried at fair value . any change in fair value is recognized in other-net , ( income ) expense . we review equity investments other than public equity investments for indications of impairment on a regular basis . our derivative activities are initiated within the guidelines of documented corporate risk-management policies and are intended to offset losses and gains on the assets , liabilities , and transactions being hedged . management reviews the correlation and effectiveness of our derivatives on a quarterly basis. .

2,018

63

LLY

Lilly (Eli)

Health Care

Pharmaceuticals

Indianapolis, Indiana

1970-12-31

59,478

1876

what was the percent of the finished products to the total inventory

24.03%

divide(988.1, 4111.8)

note 6 : inventories we use the last-in , first-out ( lifo ) method for the majority of our inventories located in the continental u.s . other inventories are valued by the first-in , first-out ( fifo ) method . fifo cost approximates current replacement cost . inventories measured using lifo must be valued at the lower of cost or market . inventories measured using fifo must be valued at the lower of cost or net realizable value . inventories at december 31 consisted of the following: .

inventories valued under the lifo method comprised $ 1.57 billion and $ 1.56 billion of total inventories at december 31 , 2018 and 2017 , respectively . note 7 : financial instruments financial instruments that potentially subject us to credit risk consist principally of trade receivables and interest- bearing investments . wholesale distributors of life-science products account for a substantial portion of our trade receivables ; collateral is generally not required . we seek to mitigate the risk associated with this concentration through our ongoing credit-review procedures and insurance . a large portion of our cash is held by a few major financial institutions . we monitor our exposures with these institutions and do not expect any of these institutions to fail to meet their obligations . major financial institutions represent the largest component of our investments in corporate debt securities . in accordance with documented corporate risk-management policies , we monitor the amount of credit exposure to any one financial institution or corporate issuer . we are exposed to credit-related losses in the event of nonperformance by counterparties to risk-management instruments but do not expect any counterparties to fail to meet their obligations given their high credit ratings . we consider all highly liquid investments with a maturity of three months or less from the date of purchase to be cash equivalents . the cost of these investments approximates fair value . our equity investments are accounted for using three different methods depending on the type of equity investment : 2022 investments in companies over which we have significant influence but not a controlling interest are accounted for using the equity method , with our share of earnings or losses reported in other-net , ( income ) expense . 2022 for equity investments that do not have readily determinable fair values , we measure these investments at cost , less any impairment , plus or minus changes resulting from observable price changes in orderly transactions for the identical or similar investment of the same issuer . any change in recorded value is recorded in other-net , ( income ) expense . 2022 our public equity investments are measured and carried at fair value . any change in fair value is recognized in other-net , ( income ) expense . we review equity investments other than public equity investments for indications of impairment on a regular basis . our derivative activities are initiated within the guidelines of documented corporate risk-management policies and are intended to offset losses and gains on the assets , liabilities , and transactions being hedged . management reviews the correlation and effectiveness of our derivatives on a quarterly basis. .

| | | 2018 | 2017 | |---:|:----------------------------------------|:---------------|:---------| | 0 | finished products | $ 988.1 | $ 1211.4 | | 1 | work in process | 2628.2 | 2697.7 | | 2 | raw materials and supplies | 506.5 | 488.8 | | 3 | total ( approximates replacement cost ) | 4122.8 | 4397.9 | | 4 | increase ( reduction ) to lifo cost | -11.0 ( 11.0 ) | 60.4 | | 5 | inventories | $ 4111.8 | $ 4458.3 |

note 6 : inventories we use the last-in , first-out ( lifo ) method for the majority of our inventories located in the continental u.s . other inventories are valued by the first-in , first-out ( fifo ) method . fifo cost approximates current replacement cost . inventories measured using lifo must be valued at the lower of cost or market . inventories measured using fifo must be valued at the lower of cost or net realizable value . inventories at december 31 consisted of the following: ._| | | 2018 | 2017 | |---:|:----------------------------------------|:---------------|:---------| | 0 | finished products | $ 988.1 | $ 1211.4 | | 1 | work in process | 2628.2 | 2697.7 | | 2 | raw materials and supplies | 506.5 | 488.8 | | 3 | total ( approximates replacement cost ) | 4122.8 | 4397.9 | | 4 | increase ( reduction ) to lifo cost | -11.0 ( 11.0 ) | 60.4 | | 5 | inventories | $ 4111.8 | $ 4458.3 |_inventories valued under the lifo method comprised $ 1.57 billion and $ 1.56 billion of total inventories at december 31 , 2018 and 2017 , respectively . note 7 : financial instruments financial instruments that potentially subject us to credit risk consist principally of trade receivables and interest- bearing investments . wholesale distributors of life-science products account for a substantial portion of our trade receivables ; collateral is generally not required . we seek to mitigate the risk associated with this concentration through our ongoing credit-review procedures and insurance . a large portion of our cash is held by a few major financial institutions . we monitor our exposures with these institutions and do not expect any of these institutions to fail to meet their obligations . major financial institutions represent the largest component of our investments in corporate debt securities . in accordance with documented corporate risk-management policies , we monitor the amount of credit exposure to any one financial institution or corporate issuer . we are exposed to credit-related losses in the event of nonperformance by counterparties to risk-management instruments but do not expect any counterparties to fail to meet their obligations given their high credit ratings . we consider all highly liquid investments with a maturity of three months or less from the date of purchase to be cash equivalents . the cost of these investments approximates fair value . our equity investments are accounted for using three different methods depending on the type of equity investment : 2022 investments in companies over which we have significant influence but not a controlling interest are accounted for using the equity method , with our share of earnings or losses reported in other-net , ( income ) expense . 2022 for equity investments that do not have readily determinable fair values , we measure these investments at cost , less any impairment , plus or minus changes resulting from observable price changes in orderly transactions for the identical or similar investment of the same issuer . any change in recorded value is recorded in other-net , ( income ) expense . 2022 our public equity investments are measured and carried at fair value . any change in fair value is recognized in other-net , ( income ) expense . we review equity investments other than public equity investments for indications of impairment on a regular basis . our derivative activities are initiated within the guidelines of documented corporate risk-management policies and are intended to offset losses and gains on the assets , liabilities , and transactions being hedged . management reviews the correlation and effectiveness of our derivatives on a quarterly basis. .

2,018

63

LLY

Lilly (Eli)

Health Care

Pharmaceuticals

Indianapolis, Indiana

1970-12-31

59,478

1876

null

finqa286

what was the percentual increase of other income due to favorable foreign exchange and reimbursements in 2011?

11.46%

divide(5.4, 47.1)

shutdown . the customer , which primarily received products from the tonnage gases segment , filed for bankruptcy in may 2012 and announced the mill shutdown in august 2012 . pension settlement loss our u.s . supplemental pension plan provides for a lump sum benefit payment option at the time of retirement , or for corporate officers , six months after the retirement date . pension settlements are recognized when cash payments exceed the sum of the service and interest cost components of net periodic pension cost of the plan for the fiscal year . the participant 2019s vested benefit is considered fully settled upon cash payment of the lump sum . we recognized $ 12.4 of settlement charges in 2013 . advisory costs during the fourth quarter of 2013 , we incurred legal and other advisory fees of $ 10.1 ( $ 6.4 after-tax , or $ .03 per share ) in connection with our response to the rapid acquisition of a large position in shares of our common stock by pershing square capital management llc and its affiliates ( pershing square ) . these fees , which are reflected on the consolidated income statements as 201cadvisory costs , 201d include costs incurred before and after pershing square 2019s disclosure of its holdings and cover advisory services related to the adoption of the shareholders rights plan , preparation for a potential proxy solicitation campaign , and entering into an agreement with pershing square . other income ( expense ) , net items recorded to other income ( expense ) , net arise from transactions and events not directly related to our principal income earning activities . the detail of other income ( expense ) , net is presented in note 23 , supplemental information , to the consolidated financial statements . 2013 vs . 2012 other income ( expense ) , net of $ 70.2 increased $ 23.1 , primarily due to higher gains from the sale of a number of small assets and investments and a favorable commercial contract settlement , partially offset by lower government grants . otherwise , no individual items were significant in comparison to the prior year . 2012 vs . 2011 other income ( expense ) , net of $ 47.1 increased $ 5.4 , primarily due to favorable foreign exchange and reimbursements from government grants for expense , partially offset by lower gains from the sale of assets . otherwise , no individual items were significant in comparison to the prior year . interest expense .

2013 vs . 2012 interest incurred increased $ 13.7 . the increase was driven primarily by a higher average debt balance for $ 41 , partially offset by a lower average interest rate on the debt portfolio of $ 24 . the change in capitalized interest was driven by a decrease in project spending and a lower average interest rate . 2012 vs . 2011 interest incurred increased $ 15.7 . the increase was driven primarily by a higher average debt balance and debt issuance costs related to the indura s.a . acquisition , partially offset by the impact of a stronger dollar on the translation of foreign currency interest . the change in capitalized interest was driven by an increase in project spending which qualified for capitalization . effective tax rate the effective tax rate equals the income tax provision divided by income from continuing operations before taxes . refer to note 22 , income taxes , to the consolidated financial statements for details on factors affecting the effective tax rate . 2013 vs . 2012 on a gaap basis , the effective tax rate was 22.8% ( 22.8 % ) and 21.9% ( 21.9 % ) in 2013 and 2012 , respectively . the current year rate includes income tax benefits of $ 73.7 related to the business restructuring and cost reduction plans and $ 3.7 for the advisory costs . the prior year rate includes income tax benefits of $ 105.0 related to the business restructuring and cost reduction plans , $ 58.3 related to the second quarter spanish tax ruling , and $ 3.7 related to the customer .

| | | 2013 | 2012 | 2011 | |---:|:----------------------------|:--------|:--------|:--------| | 0 | interest incurred | $ 167.6 | $ 153.9 | $ 138.2 | | 1 | less : capitalized interest | 25.8 | 30.2 | 22.7 | | 2 | interest expense | $ 141.8 | $ 123.7 | $ 115.5 |

shutdown . the customer , which primarily received products from the tonnage gases segment , filed for bankruptcy in may 2012 and announced the mill shutdown in august 2012 . pension settlement loss our u.s . supplemental pension plan provides for a lump sum benefit payment option at the time of retirement , or for corporate officers , six months after the retirement date . pension settlements are recognized when cash payments exceed the sum of the service and interest cost components of net periodic pension cost of the plan for the fiscal year . the participant 2019s vested benefit is considered fully settled upon cash payment of the lump sum . we recognized $ 12.4 of settlement charges in 2013 . advisory costs during the fourth quarter of 2013 , we incurred legal and other advisory fees of $ 10.1 ( $ 6.4 after-tax , or $ .03 per share ) in connection with our response to the rapid acquisition of a large position in shares of our common stock by pershing square capital management llc and its affiliates ( pershing square ) . these fees , which are reflected on the consolidated income statements as 201cadvisory costs , 201d include costs incurred before and after pershing square 2019s disclosure of its holdings and cover advisory services related to the adoption of the shareholders rights plan , preparation for a potential proxy solicitation campaign , and entering into an agreement with pershing square . other income ( expense ) , net items recorded to other income ( expense ) , net arise from transactions and events not directly related to our principal income earning activities . the detail of other income ( expense ) , net is presented in note 23 , supplemental information , to the consolidated financial statements . 2013 vs . 2012 other income ( expense ) , net of $ 70.2 increased $ 23.1 , primarily due to higher gains from the sale of a number of small assets and investments and a favorable commercial contract settlement , partially offset by lower government grants . otherwise , no individual items were significant in comparison to the prior year . 2012 vs . 2011 other income ( expense ) , net of $ 47.1 increased $ 5.4 , primarily due to favorable foreign exchange and reimbursements from government grants for expense , partially offset by lower gains from the sale of assets . otherwise , no individual items were significant in comparison to the prior year . interest expense ._| | | 2013 | 2012 | 2011 | |---:|:----------------------------|:--------|:--------|:--------| | 0 | interest incurred | $ 167.6 | $ 153.9 | $ 138.2 | | 1 | less : capitalized interest | 25.8 | 30.2 | 22.7 | | 2 | interest expense | $ 141.8 | $ 123.7 | $ 115.5 |_2013 vs . 2012 interest incurred increased $ 13.7 . the increase was driven primarily by a higher average debt balance for $ 41 , partially offset by a lower average interest rate on the debt portfolio of $ 24 . the change in capitalized interest was driven by a decrease in project spending and a lower average interest rate . 2012 vs . 2011 interest incurred increased $ 15.7 . the increase was driven primarily by a higher average debt balance and debt issuance costs related to the indura s.a . acquisition , partially offset by the impact of a stronger dollar on the translation of foreign currency interest . the change in capitalized interest was driven by an increase in project spending which qualified for capitalization . effective tax rate the effective tax rate equals the income tax provision divided by income from continuing operations before taxes . refer to note 22 , income taxes , to the consolidated financial statements for details on factors affecting the effective tax rate . 2013 vs . 2012 on a gaap basis , the effective tax rate was 22.8% ( 22.8 % ) and 21.9% ( 21.9 % ) in 2013 and 2012 , respectively . the current year rate includes income tax benefits of $ 73.7 related to the business restructuring and cost reduction plans and $ 3.7 for the advisory costs . the prior year rate includes income tax benefits of $ 105.0 related to the business restructuring and cost reduction plans , $ 58.3 related to the second quarter spanish tax ruling , and $ 3.7 related to the customer .

2,013

32

APD

Air Products

Materials

Industrial Gases

Upper Macungie Township, Pennsylvania

1985-04-30

2,969

1940

what was the percentual increase of other income due to favorable foreign exchange and reimbursements in 2011?

11.46%

divide(5.4, 47.1)

shutdown . the customer , which primarily received products from the tonnage gases segment , filed for bankruptcy in may 2012 and announced the mill shutdown in august 2012 . pension settlement loss our u.s . supplemental pension plan provides for a lump sum benefit payment option at the time of retirement , or for corporate officers , six months after the retirement date . pension settlements are recognized when cash payments exceed the sum of the service and interest cost components of net periodic pension cost of the plan for the fiscal year . the participant 2019s vested benefit is considered fully settled upon cash payment of the lump sum . we recognized $ 12.4 of settlement charges in 2013 . advisory costs during the fourth quarter of 2013 , we incurred legal and other advisory fees of $ 10.1 ( $ 6.4 after-tax , or $ .03 per share ) in connection with our response to the rapid acquisition of a large position in shares of our common stock by pershing square capital management llc and its affiliates ( pershing square ) . these fees , which are reflected on the consolidated income statements as 201cadvisory costs , 201d include costs incurred before and after pershing square 2019s disclosure of its holdings and cover advisory services related to the adoption of the shareholders rights plan , preparation for a potential proxy solicitation campaign , and entering into an agreement with pershing square . other income ( expense ) , net items recorded to other income ( expense ) , net arise from transactions and events not directly related to our principal income earning activities . the detail of other income ( expense ) , net is presented in note 23 , supplemental information , to the consolidated financial statements . 2013 vs . 2012 other income ( expense ) , net of $ 70.2 increased $ 23.1 , primarily due to higher gains from the sale of a number of small assets and investments and a favorable commercial contract settlement , partially offset by lower government grants . otherwise , no individual items were significant in comparison to the prior year . 2012 vs . 2011 other income ( expense ) , net of $ 47.1 increased $ 5.4 , primarily due to favorable foreign exchange and reimbursements from government grants for expense , partially offset by lower gains from the sale of assets . otherwise , no individual items were significant in comparison to the prior year . interest expense .

2013 vs . 2012 interest incurred increased $ 13.7 . the increase was driven primarily by a higher average debt balance for $ 41 , partially offset by a lower average interest rate on the debt portfolio of $ 24 . the change in capitalized interest was driven by a decrease in project spending and a lower average interest rate . 2012 vs . 2011 interest incurred increased $ 15.7 . the increase was driven primarily by a higher average debt balance and debt issuance costs related to the indura s.a . acquisition , partially offset by the impact of a stronger dollar on the translation of foreign currency interest . the change in capitalized interest was driven by an increase in project spending which qualified for capitalization . effective tax rate the effective tax rate equals the income tax provision divided by income from continuing operations before taxes . refer to note 22 , income taxes , to the consolidated financial statements for details on factors affecting the effective tax rate . 2013 vs . 2012 on a gaap basis , the effective tax rate was 22.8% ( 22.8 % ) and 21.9% ( 21.9 % ) in 2013 and 2012 , respectively . the current year rate includes income tax benefits of $ 73.7 related to the business restructuring and cost reduction plans and $ 3.7 for the advisory costs . the prior year rate includes income tax benefits of $ 105.0 related to the business restructuring and cost reduction plans , $ 58.3 related to the second quarter spanish tax ruling , and $ 3.7 related to the customer .

| | | 2013 | 2012 | 2011 | |---:|:----------------------------|:--------|:--------|:--------| | 0 | interest incurred | $ 167.6 | $ 153.9 | $ 138.2 | | 1 | less : capitalized interest | 25.8 | 30.2 | 22.7 | | 2 | interest expense | $ 141.8 | $ 123.7 | $ 115.5 |

shutdown . the customer , which primarily received products from the tonnage gases segment , filed for bankruptcy in may 2012 and announced the mill shutdown in august 2012 . pension settlement loss our u.s . supplemental pension plan provides for a lump sum benefit payment option at the time of retirement , or for corporate officers , six months after the retirement date . pension settlements are recognized when cash payments exceed the sum of the service and interest cost components of net periodic pension cost of the plan for the fiscal year . the participant 2019s vested benefit is considered fully settled upon cash payment of the lump sum . we recognized $ 12.4 of settlement charges in 2013 . advisory costs during the fourth quarter of 2013 , we incurred legal and other advisory fees of $ 10.1 ( $ 6.4 after-tax , or $ .03 per share ) in connection with our response to the rapid acquisition of a large position in shares of our common stock by pershing square capital management llc and its affiliates ( pershing square ) . these fees , which are reflected on the consolidated income statements as 201cadvisory costs , 201d include costs incurred before and after pershing square 2019s disclosure of its holdings and cover advisory services related to the adoption of the shareholders rights plan , preparation for a potential proxy solicitation campaign , and entering into an agreement with pershing square . other income ( expense ) , net items recorded to other income ( expense ) , net arise from transactions and events not directly related to our principal income earning activities . the detail of other income ( expense ) , net is presented in note 23 , supplemental information , to the consolidated financial statements . 2013 vs . 2012 other income ( expense ) , net of $ 70.2 increased $ 23.1 , primarily due to higher gains from the sale of a number of small assets and investments and a favorable commercial contract settlement , partially offset by lower government grants . otherwise , no individual items were significant in comparison to the prior year . 2012 vs . 2011 other income ( expense ) , net of $ 47.1 increased $ 5.4 , primarily due to favorable foreign exchange and reimbursements from government grants for expense , partially offset by lower gains from the sale of assets . otherwise , no individual items were significant in comparison to the prior year . interest expense ._| | | 2013 | 2012 | 2011 | |---:|:----------------------------|:--------|:--------|:--------| | 0 | interest incurred | $ 167.6 | $ 153.9 | $ 138.2 | | 1 | less : capitalized interest | 25.8 | 30.2 | 22.7 | | 2 | interest expense | $ 141.8 | $ 123.7 | $ 115.5 |_2013 vs . 2012 interest incurred increased $ 13.7 . the increase was driven primarily by a higher average debt balance for $ 41 , partially offset by a lower average interest rate on the debt portfolio of $ 24 . the change in capitalized interest was driven by a decrease in project spending and a lower average interest rate . 2012 vs . 2011 interest incurred increased $ 15.7 . the increase was driven primarily by a higher average debt balance and debt issuance costs related to the indura s.a . acquisition , partially offset by the impact of a stronger dollar on the translation of foreign currency interest . the change in capitalized interest was driven by an increase in project spending which qualified for capitalization . effective tax rate the effective tax rate equals the income tax provision divided by income from continuing operations before taxes . refer to note 22 , income taxes , to the consolidated financial statements for details on factors affecting the effective tax rate . 2013 vs . 2012 on a gaap basis , the effective tax rate was 22.8% ( 22.8 % ) and 21.9% ( 21.9 % ) in 2013 and 2012 , respectively . the current year rate includes income tax benefits of $ 73.7 related to the business restructuring and cost reduction plans and $ 3.7 for the advisory costs . the prior year rate includes income tax benefits of $ 105.0 related to the business restructuring and cost reduction plans , $ 58.3 related to the second quarter spanish tax ruling , and $ 3.7 related to the customer .

2,013

32

APD

Air Products

Materials

Industrial Gases

Upper Macungie Township, Pennsylvania

1985-04-30

2,969

1940

null

finqa287

in 2017 what was the debt to equity based on the 2017 actual asset allocation

2.33

divide(70, 30)

republic services , inc . notes to consolidated financial statements 2014 ( continued ) we determine the discount rate used in the measurement of our obligations based on a model that matches the timing and amount of expected benefit payments to maturities of high quality bonds priced as of the plan measurement date . when that timing does not correspond to a published high-quality bond rate , our model uses an expected yield curve to determine an appropriate current discount rate . the yields on the bonds are used to derive a discount rate for the liability . the term of our obligation , based on the expected retirement dates of our workforce , is approximately seven years . in developing our expected rate of return assumption , we have evaluated the actual historical performance and long-term return projections of the plan assets , which give consideration to the asset mix and the anticipated timing of the plan outflows . we employ a total return investment approach whereby a mix of equity and fixed income investments are used to maximize the long-term return of plan assets for what we consider a prudent level of risk . the intent of this strategy is to minimize plan expenses by outperforming plan liabilities over the long run . risk tolerance is established through careful consideration of plan liabilities , plan funded status and our financial condition . the investment portfolio contains a diversified blend of equity and fixed income investments . furthermore , equity investments are diversified across u.s . and non-u.s . stocks as well as growth , value , and small and large capitalizations . derivatives may be used to gain market exposure in an efficient and timely manner ; however , derivatives may not be used to leverage the portfolio beyond the market value of the underlying investments . investment risk is measured and monitored on an ongoing basis through annual liability measurements , periodic asset and liability studies , and quarterly investment portfolio reviews . the following table summarizes our target asset allocation for 2017 and actual asset allocation as of december 31 , 2017 and 2016 for our plan : target allocation actual allocation actual allocation .

for 2018 , the investment strategy for pension plan assets is to maintain a broadly diversified portfolio designed to achieve our target of an average long-term rate of return of 5.36% ( 5.36 % ) . while we believe we can achieve a long- term average return of 5.36% ( 5.36 % ) , we cannot be certain that the portfolio will perform to our expectations . assets are strategically allocated among debt and equity portfolios to achieve a diversification level that reduces fluctuations in investment returns . asset allocation target ranges and strategies are reviewed periodically with the assistance of an independent external consulting firm. .

| | | targetassetallocation | 2017actualassetallocation | 2016actualassetallocation | |---:|:------------------|:------------------------|:----------------------------|:----------------------------| | 0 | debt securities | 72% ( 72 % ) | 70% ( 70 % ) | 72% ( 72 % ) | | 1 | equity securities | 28 | 30 | 28 | | 2 | total | 100% ( 100 % ) | 100% ( 100 % ) | 100% ( 100 % ) |

republic services , inc . notes to consolidated financial statements 2014 ( continued ) we determine the discount rate used in the measurement of our obligations based on a model that matches the timing and amount of expected benefit payments to maturities of high quality bonds priced as of the plan measurement date . when that timing does not correspond to a published high-quality bond rate , our model uses an expected yield curve to determine an appropriate current discount rate . the yields on the bonds are used to derive a discount rate for the liability . the term of our obligation , based on the expected retirement dates of our workforce , is approximately seven years . in developing our expected rate of return assumption , we have evaluated the actual historical performance and long-term return projections of the plan assets , which give consideration to the asset mix and the anticipated timing of the plan outflows . we employ a total return investment approach whereby a mix of equity and fixed income investments are used to maximize the long-term return of plan assets for what we consider a prudent level of risk . the intent of this strategy is to minimize plan expenses by outperforming plan liabilities over the long run . risk tolerance is established through careful consideration of plan liabilities , plan funded status and our financial condition . the investment portfolio contains a diversified blend of equity and fixed income investments . furthermore , equity investments are diversified across u.s . and non-u.s . stocks as well as growth , value , and small and large capitalizations . derivatives may be used to gain market exposure in an efficient and timely manner ; however , derivatives may not be used to leverage the portfolio beyond the market value of the underlying investments . investment risk is measured and monitored on an ongoing basis through annual liability measurements , periodic asset and liability studies , and quarterly investment portfolio reviews . the following table summarizes our target asset allocation for 2017 and actual asset allocation as of december 31 , 2017 and 2016 for our plan : target allocation actual allocation actual allocation ._| | | targetassetallocation | 2017actualassetallocation | 2016actualassetallocation | |---:|:------------------|:------------------------|:----------------------------|:----------------------------| | 0 | debt securities | 72% ( 72 % ) | 70% ( 70 % ) | 72% ( 72 % ) | | 1 | equity securities | 28 | 30 | 28 | | 2 | total | 100% ( 100 % ) | 100% ( 100 % ) | 100% ( 100 % ) |_for 2018 , the investment strategy for pension plan assets is to maintain a broadly diversified portfolio designed to achieve our target of an average long-term rate of return of 5.36% ( 5.36 % ) . while we believe we can achieve a long- term average return of 5.36% ( 5.36 % ) , we cannot be certain that the portfolio will perform to our expectations . assets are strategically allocated among debt and equity portfolios to achieve a diversification level that reduces fluctuations in investment returns . asset allocation target ranges and strategies are reviewed periodically with the assistance of an independent external consulting firm. .

2,017

138

RSG

Republic Services

Industrials

Environmental & Facilities Services

Phoenix, Arizona

2008-12-05

1,060,391

1998 (1981)

in 2017 what was the debt to equity based on the 2017 actual asset allocation

2.33

divide(70, 30)

republic services , inc . notes to consolidated financial statements 2014 ( continued ) we determine the discount rate used in the measurement of our obligations based on a model that matches the timing and amount of expected benefit payments to maturities of high quality bonds priced as of the plan measurement date . when that timing does not correspond to a published high-quality bond rate , our model uses an expected yield curve to determine an appropriate current discount rate . the yields on the bonds are used to derive a discount rate for the liability . the term of our obligation , based on the expected retirement dates of our workforce , is approximately seven years . in developing our expected rate of return assumption , we have evaluated the actual historical performance and long-term return projections of the plan assets , which give consideration to the asset mix and the anticipated timing of the plan outflows . we employ a total return investment approach whereby a mix of equity and fixed income investments are used to maximize the long-term return of plan assets for what we consider a prudent level of risk . the intent of this strategy is to minimize plan expenses by outperforming plan liabilities over the long run . risk tolerance is established through careful consideration of plan liabilities , plan funded status and our financial condition . the investment portfolio contains a diversified blend of equity and fixed income investments . furthermore , equity investments are diversified across u.s . and non-u.s . stocks as well as growth , value , and small and large capitalizations . derivatives may be used to gain market exposure in an efficient and timely manner ; however , derivatives may not be used to leverage the portfolio beyond the market value of the underlying investments . investment risk is measured and monitored on an ongoing basis through annual liability measurements , periodic asset and liability studies , and quarterly investment portfolio reviews . the following table summarizes our target asset allocation for 2017 and actual asset allocation as of december 31 , 2017 and 2016 for our plan : target allocation actual allocation actual allocation .

for 2018 , the investment strategy for pension plan assets is to maintain a broadly diversified portfolio designed to achieve our target of an average long-term rate of return of 5.36% ( 5.36 % ) . while we believe we can achieve a long- term average return of 5.36% ( 5.36 % ) , we cannot be certain that the portfolio will perform to our expectations . assets are strategically allocated among debt and equity portfolios to achieve a diversification level that reduces fluctuations in investment returns . asset allocation target ranges and strategies are reviewed periodically with the assistance of an independent external consulting firm. .

| | | targetassetallocation | 2017actualassetallocation | 2016actualassetallocation | |---:|:------------------|:------------------------|:----------------------------|:----------------------------| | 0 | debt securities | 72% ( 72 % ) | 70% ( 70 % ) | 72% ( 72 % ) | | 1 | equity securities | 28 | 30 | 28 | | 2 | total | 100% ( 100 % ) | 100% ( 100 % ) | 100% ( 100 % ) |

republic services , inc . notes to consolidated financial statements 2014 ( continued ) we determine the discount rate used in the measurement of our obligations based on a model that matches the timing and amount of expected benefit payments to maturities of high quality bonds priced as of the plan measurement date . when that timing does not correspond to a published high-quality bond rate , our model uses an expected yield curve to determine an appropriate current discount rate . the yields on the bonds are used to derive a discount rate for the liability . the term of our obligation , based on the expected retirement dates of our workforce , is approximately seven years . in developing our expected rate of return assumption , we have evaluated the actual historical performance and long-term return projections of the plan assets , which give consideration to the asset mix and the anticipated timing of the plan outflows . we employ a total return investment approach whereby a mix of equity and fixed income investments are used to maximize the long-term return of plan assets for what we consider a prudent level of risk . the intent of this strategy is to minimize plan expenses by outperforming plan liabilities over the long run . risk tolerance is established through careful consideration of plan liabilities , plan funded status and our financial condition . the investment portfolio contains a diversified blend of equity and fixed income investments . furthermore , equity investments are diversified across u.s . and non-u.s . stocks as well as growth , value , and small and large capitalizations . derivatives may be used to gain market exposure in an efficient and timely manner ; however , derivatives may not be used to leverage the portfolio beyond the market value of the underlying investments . investment risk is measured and monitored on an ongoing basis through annual liability measurements , periodic asset and liability studies , and quarterly investment portfolio reviews . the following table summarizes our target asset allocation for 2017 and actual asset allocation as of december 31 , 2017 and 2016 for our plan : target allocation actual allocation actual allocation ._| | | targetassetallocation | 2017actualassetallocation | 2016actualassetallocation | |---:|:------------------|:------------------------|:----------------------------|:----------------------------| | 0 | debt securities | 72% ( 72 % ) | 70% ( 70 % ) | 72% ( 72 % ) | | 1 | equity securities | 28 | 30 | 28 | | 2 | total | 100% ( 100 % ) | 100% ( 100 % ) | 100% ( 100 % ) |_for 2018 , the investment strategy for pension plan assets is to maintain a broadly diversified portfolio designed to achieve our target of an average long-term rate of return of 5.36% ( 5.36 % ) . while we believe we can achieve a long- term average return of 5.36% ( 5.36 % ) , we cannot be certain that the portfolio will perform to our expectations . assets are strategically allocated among debt and equity portfolios to achieve a diversification level that reduces fluctuations in investment returns . asset allocation target ranges and strategies are reviewed periodically with the assistance of an independent external consulting firm. .

2,017

138

RSG

Republic Services

Industrials

Environmental & Facilities Services

Phoenix, Arizona

2008-12-05

1,060,391

1998 (1981)

null

finqa288

what percentage of average common equity attribution in 2016 is made up of institutional securities?

63%

divide(43.2, 68.9)

management 2019s discussion and analysis environment , for example , to incorporate changes in stress testing or enhancements to modeling techniques . we will continue to evaluate the framework with respect to the impact of future regulatory requirements , as appropriate . average common equity attribution1 $ in billions 2017 2016 2015 .

1 . average common equity is a non-gaap financial measure . see 201cselected non-gaap financial information 201d herein . regulatory developments resolution and recovery planning pursuant to the dodd-frank act , we are required to periodi- cally submit to the federal reserve and the fdic a resolution plan that describes our strategy for a rapid and orderly resolu- tion under the u.s . bankruptcy code in the event of our material financial distress or failure . our preferred resolution strategy , which is set out in our 2017 resolution plan , is an spoe strategy . we submitted our full 2017 resolution plan on june 30 , 2017 . as indicated in our 2017 resolution plan , the parent company has amended and restated its support agreement with its material entities , as defined in our 2017 resolution plan . under the secured amended and restated support agreement , upon the occur- rence of a resolution scenario , the parent company would be obligated to contribute or loan on a subordinated basis all of its contributable material assets , other than shares in subsidi- aries of the parent company and certain intercompany receiv- ables , to provide capital and liquidity , as applicable , to our material entities . the obligations of the parent company under the secured amended and restated support agreement are in most cases secured on a senior basis by the assets of the parent company ( other than shares in subsidiaries of the parent company ) . as a result , claims of our material entities against the assets of the parent company ( other than shares in subsidiaries of the parent company ) are effectively senior to unsecured obliga- tions of the parent company . in december 2017 , we received joint feedback on our 2017 resolution plan from the federal reserve and the fdic . the feedback identified no deficiencies in our 2017 resolution plan but noted one shortcoming to be remediated in our next resolution plan submission . further , the federal reserve and the fdic have extended the next resolution plan filing deadline for eight large domestic banks , including us , by one year to july 1 , 2019 . for more information about resolution and recovery planning requirements and our activities in these areas , including the implications of such activities in a resolution scenario , see 201cbusiness 2014supervision and regulation 2014financial holding company 2014resolution and recovery planning 201d and 201crisk factors 2014legal , regulatory and compliance risk . 201d legacy covered funds under the volcker rule the volcker rule prohibits 201cbanking entities , 201d including us and our affiliates , from engaging in certain 201cproprietary trading 201d activities , as defined in the volcker rule , subject to exemptions for underwriting , market-making-related activities , risk-mitigating hedging and certain other activities . the volcker rule also prohibits certain investments and relation- ships by banking entities with 201ccovered funds , 201d with a number of exemptions and exclusions . in june 2017 , we received approval from the federal reserve of our application for a five-year extension of the transition period to conform invest- ments in certain legacy volcker covered funds that are also illiquid funds . the approval covered essentially all of our non-conforming investments in , and relationships with , legacy covered funds subject to the volcker rule . for more informa- tion about the volcker rule , see 201cbusiness 2014supervision and regulation 2014activities restrictions under the volcker rule . 201d u.s . department of labor conflict of interest rule the u.s . dol 2019s final conflict of interest rule under erisa went into effect on june 9 , 2017 , with certain aspects subject to phased-in compliance . full compliance with the rule 2019s related exemptions is currently scheduled to be required by july 1 , 2019 . in addition , the u.s . dol is undertaking an examination of the rule that may result in changes to the rule or its related exemptions or a change in the full compliance date . for a discussion of the u.s . dol conflict of interest rule , see 201cbusiness 2014supervision and regulation 2014instit- utional securities and wealth management . 201d u.k . referendum following the u.k . electorate vote to leave the e.u. , the u.k . invoked article 50 of the lisbon treaty on march 29 , 2017 , which triggered a two-year period , subject to extension ( which would need the unanimous approval of the e.u . member states ) , during which the u.k . government is expected to negotiate its withdrawal agreement with the e.u . for further discussion of u.k . referendum 2019s potential impact on our operations , see 201crisk factors 2014international risk . 201d for further information regarding our exposure to the u.k. , see also 201cquantitative and qualitative disclosures about market risk 2014risk management 2014credit risk 2014country risk exposure . 201d 69 december 2017 form 10-k .

| | $ in billions | 2017 | 2016 | 2015 | |---:|:-------------------------|:-------|:-------|:-------| | 0 | institutional securities | $ 40.2 | $ 43.2 | $ 34.6 | | 1 | wealth management | 17.2 | 15.3 | 11.2 | | 2 | investment management | 2.4 | 2.8 | 2.2 | | 3 | parent company | 10.0 | 7.6 | 18.9 | | 4 | total | $ 69.8 | $ 68.9 | $ 66.9 |

management 2019s discussion and analysis environment , for example , to incorporate changes in stress testing or enhancements to modeling techniques . we will continue to evaluate the framework with respect to the impact of future regulatory requirements , as appropriate . average common equity attribution1 $ in billions 2017 2016 2015 ._| | $ in billions | 2017 | 2016 | 2015 | |---:|:-------------------------|:-------|:-------|:-------| | 0 | institutional securities | $ 40.2 | $ 43.2 | $ 34.6 | | 1 | wealth management | 17.2 | 15.3 | 11.2 | | 2 | investment management | 2.4 | 2.8 | 2.2 | | 3 | parent company | 10.0 | 7.6 | 18.9 | | 4 | total | $ 69.8 | $ 68.9 | $ 66.9 |_1 . average common equity is a non-gaap financial measure . see 201cselected non-gaap financial information 201d herein . regulatory developments resolution and recovery planning pursuant to the dodd-frank act , we are required to periodi- cally submit to the federal reserve and the fdic a resolution plan that describes our strategy for a rapid and orderly resolu- tion under the u.s . bankruptcy code in the event of our material financial distress or failure . our preferred resolution strategy , which is set out in our 2017 resolution plan , is an spoe strategy . we submitted our full 2017 resolution plan on june 30 , 2017 . as indicated in our 2017 resolution plan , the parent company has amended and restated its support agreement with its material entities , as defined in our 2017 resolution plan . under the secured amended and restated support agreement , upon the occur- rence of a resolution scenario , the parent company would be obligated to contribute or loan on a subordinated basis all of its contributable material assets , other than shares in subsidi- aries of the parent company and certain intercompany receiv- ables , to provide capital and liquidity , as applicable , to our material entities . the obligations of the parent company under the secured amended and restated support agreement are in most cases secured on a senior basis by the assets of the parent company ( other than shares in subsidiaries of the parent company ) . as a result , claims of our material entities against the assets of the parent company ( other than shares in subsidiaries of the parent company ) are effectively senior to unsecured obliga- tions of the parent company . in december 2017 , we received joint feedback on our 2017 resolution plan from the federal reserve and the fdic . the feedback identified no deficiencies in our 2017 resolution plan but noted one shortcoming to be remediated in our next resolution plan submission . further , the federal reserve and the fdic have extended the next resolution plan filing deadline for eight large domestic banks , including us , by one year to july 1 , 2019 . for more information about resolution and recovery planning requirements and our activities in these areas , including the implications of such activities in a resolution scenario , see 201cbusiness 2014supervision and regulation 2014financial holding company 2014resolution and recovery planning 201d and 201crisk factors 2014legal , regulatory and compliance risk . 201d legacy covered funds under the volcker rule the volcker rule prohibits 201cbanking entities , 201d including us and our affiliates , from engaging in certain 201cproprietary trading 201d activities , as defined in the volcker rule , subject to exemptions for underwriting , market-making-related activities , risk-mitigating hedging and certain other activities . the volcker rule also prohibits certain investments and relation- ships by banking entities with 201ccovered funds , 201d with a number of exemptions and exclusions . in june 2017 , we received approval from the federal reserve of our application for a five-year extension of the transition period to conform invest- ments in certain legacy volcker covered funds that are also illiquid funds . the approval covered essentially all of our non-conforming investments in , and relationships with , legacy covered funds subject to the volcker rule . for more informa- tion about the volcker rule , see 201cbusiness 2014supervision and regulation 2014activities restrictions under the volcker rule . 201d u.s . department of labor conflict of interest rule the u.s . dol 2019s final conflict of interest rule under erisa went into effect on june 9 , 2017 , with certain aspects subject to phased-in compliance . full compliance with the rule 2019s related exemptions is currently scheduled to be required by july 1 , 2019 . in addition , the u.s . dol is undertaking an examination of the rule that may result in changes to the rule or its related exemptions or a change in the full compliance date . for a discussion of the u.s . dol conflict of interest rule , see 201cbusiness 2014supervision and regulation 2014instit- utional securities and wealth management . 201d u.k . referendum following the u.k . electorate vote to leave the e.u. , the u.k . invoked article 50 of the lisbon treaty on march 29 , 2017 , which triggered a two-year period , subject to extension ( which would need the unanimous approval of the e.u . member states ) , during which the u.k . government is expected to negotiate its withdrawal agreement with the e.u . for further discussion of u.k . referendum 2019s potential impact on our operations , see 201crisk factors 2014international risk . 201d for further information regarding our exposure to the u.k. , see also 201cquantitative and qualitative disclosures about market risk 2014risk management 2014credit risk 2014country risk exposure . 201d 69 december 2017 form 10-k .

2,017

74

MS

Morgan Stanley

Financials

Investment Banking & Brokerage

New York City, New York

1993-07-29

895,421

1935

what percentage of average common equity attribution in 2016 is made up of institutional securities?

63%

divide(43.2, 68.9)

management 2019s discussion and analysis environment , for example , to incorporate changes in stress testing or enhancements to modeling techniques . we will continue to evaluate the framework with respect to the impact of future regulatory requirements , as appropriate . average common equity attribution1 $ in billions 2017 2016 2015 .

1 . average common equity is a non-gaap financial measure . see 201cselected non-gaap financial information 201d herein . regulatory developments resolution and recovery planning pursuant to the dodd-frank act , we are required to periodi- cally submit to the federal reserve and the fdic a resolution plan that describes our strategy for a rapid and orderly resolu- tion under the u.s . bankruptcy code in the event of our material financial distress or failure . our preferred resolution strategy , which is set out in our 2017 resolution plan , is an spoe strategy . we submitted our full 2017 resolution plan on june 30 , 2017 . as indicated in our 2017 resolution plan , the parent company has amended and restated its support agreement with its material entities , as defined in our 2017 resolution plan . under the secured amended and restated support agreement , upon the occur- rence of a resolution scenario , the parent company would be obligated to contribute or loan on a subordinated basis all of its contributable material assets , other than shares in subsidi- aries of the parent company and certain intercompany receiv- ables , to provide capital and liquidity , as applicable , to our material entities . the obligations of the parent company under the secured amended and restated support agreement are in most cases secured on a senior basis by the assets of the parent company ( other than shares in subsidiaries of the parent company ) . as a result , claims of our material entities against the assets of the parent company ( other than shares in subsidiaries of the parent company ) are effectively senior to unsecured obliga- tions of the parent company . in december 2017 , we received joint feedback on our 2017 resolution plan from the federal reserve and the fdic . the feedback identified no deficiencies in our 2017 resolution plan but noted one shortcoming to be remediated in our next resolution plan submission . further , the federal reserve and the fdic have extended the next resolution plan filing deadline for eight large domestic banks , including us , by one year to july 1 , 2019 . for more information about resolution and recovery planning requirements and our activities in these areas , including the implications of such activities in a resolution scenario , see 201cbusiness 2014supervision and regulation 2014financial holding company 2014resolution and recovery planning 201d and 201crisk factors 2014legal , regulatory and compliance risk . 201d legacy covered funds under the volcker rule the volcker rule prohibits 201cbanking entities , 201d including us and our affiliates , from engaging in certain 201cproprietary trading 201d activities , as defined in the volcker rule , subject to exemptions for underwriting , market-making-related activities , risk-mitigating hedging and certain other activities . the volcker rule also prohibits certain investments and relation- ships by banking entities with 201ccovered funds , 201d with a number of exemptions and exclusions . in june 2017 , we received approval from the federal reserve of our application for a five-year extension of the transition period to conform invest- ments in certain legacy volcker covered funds that are also illiquid funds . the approval covered essentially all of our non-conforming investments in , and relationships with , legacy covered funds subject to the volcker rule . for more informa- tion about the volcker rule , see 201cbusiness 2014supervision and regulation 2014activities restrictions under the volcker rule . 201d u.s . department of labor conflict of interest rule the u.s . dol 2019s final conflict of interest rule under erisa went into effect on june 9 , 2017 , with certain aspects subject to phased-in compliance . full compliance with the rule 2019s related exemptions is currently scheduled to be required by july 1 , 2019 . in addition , the u.s . dol is undertaking an examination of the rule that may result in changes to the rule or its related exemptions or a change in the full compliance date . for a discussion of the u.s . dol conflict of interest rule , see 201cbusiness 2014supervision and regulation 2014instit- utional securities and wealth management . 201d u.k . referendum following the u.k . electorate vote to leave the e.u. , the u.k . invoked article 50 of the lisbon treaty on march 29 , 2017 , which triggered a two-year period , subject to extension ( which would need the unanimous approval of the e.u . member states ) , during which the u.k . government is expected to negotiate its withdrawal agreement with the e.u . for further discussion of u.k . referendum 2019s potential impact on our operations , see 201crisk factors 2014international risk . 201d for further information regarding our exposure to the u.k. , see also 201cquantitative and qualitative disclosures about market risk 2014risk management 2014credit risk 2014country risk exposure . 201d 69 december 2017 form 10-k .

| | $ in billions | 2017 | 2016 | 2015 | |---:|:-------------------------|:-------|:-------|:-------| | 0 | institutional securities | $ 40.2 | $ 43.2 | $ 34.6 | | 1 | wealth management | 17.2 | 15.3 | 11.2 | | 2 | investment management | 2.4 | 2.8 | 2.2 | | 3 | parent company | 10.0 | 7.6 | 18.9 | | 4 | total | $ 69.8 | $ 68.9 | $ 66.9 |

management 2019s discussion and analysis environment , for example , to incorporate changes in stress testing or enhancements to modeling techniques . we will continue to evaluate the framework with respect to the impact of future regulatory requirements , as appropriate . average common equity attribution1 $ in billions 2017 2016 2015 ._| | $ in billions | 2017 | 2016 | 2015 | |---:|:-------------------------|:-------|:-------|:-------| | 0 | institutional securities | $ 40.2 | $ 43.2 | $ 34.6 | | 1 | wealth management | 17.2 | 15.3 | 11.2 | | 2 | investment management | 2.4 | 2.8 | 2.2 | | 3 | parent company | 10.0 | 7.6 | 18.9 | | 4 | total | $ 69.8 | $ 68.9 | $ 66.9 |_1 . average common equity is a non-gaap financial measure . see 201cselected non-gaap financial information 201d herein . regulatory developments resolution and recovery planning pursuant to the dodd-frank act , we are required to periodi- cally submit to the federal reserve and the fdic a resolution plan that describes our strategy for a rapid and orderly resolu- tion under the u.s . bankruptcy code in the event of our material financial distress or failure . our preferred resolution strategy , which is set out in our 2017 resolution plan , is an spoe strategy . we submitted our full 2017 resolution plan on june 30 , 2017 . as indicated in our 2017 resolution plan , the parent company has amended and restated its support agreement with its material entities , as defined in our 2017 resolution plan . under the secured amended and restated support agreement , upon the occur- rence of a resolution scenario , the parent company would be obligated to contribute or loan on a subordinated basis all of its contributable material assets , other than shares in subsidi- aries of the parent company and certain intercompany receiv- ables , to provide capital and liquidity , as applicable , to our material entities . the obligations of the parent company under the secured amended and restated support agreement are in most cases secured on a senior basis by the assets of the parent company ( other than shares in subsidiaries of the parent company ) . as a result , claims of our material entities against the assets of the parent company ( other than shares in subsidiaries of the parent company ) are effectively senior to unsecured obliga- tions of the parent company . in december 2017 , we received joint feedback on our 2017 resolution plan from the federal reserve and the fdic . the feedback identified no deficiencies in our 2017 resolution plan but noted one shortcoming to be remediated in our next resolution plan submission . further , the federal reserve and the fdic have extended the next resolution plan filing deadline for eight large domestic banks , including us , by one year to july 1 , 2019 . for more information about resolution and recovery planning requirements and our activities in these areas , including the implications of such activities in a resolution scenario , see 201cbusiness 2014supervision and regulation 2014financial holding company 2014resolution and recovery planning 201d and 201crisk factors 2014legal , regulatory and compliance risk . 201d legacy covered funds under the volcker rule the volcker rule prohibits 201cbanking entities , 201d including us and our affiliates , from engaging in certain 201cproprietary trading 201d activities , as defined in the volcker rule , subject to exemptions for underwriting , market-making-related activities , risk-mitigating hedging and certain other activities . the volcker rule also prohibits certain investments and relation- ships by banking entities with 201ccovered funds , 201d with a number of exemptions and exclusions . in june 2017 , we received approval from the federal reserve of our application for a five-year extension of the transition period to conform invest- ments in certain legacy volcker covered funds that are also illiquid funds . the approval covered essentially all of our non-conforming investments in , and relationships with , legacy covered funds subject to the volcker rule . for more informa- tion about the volcker rule , see 201cbusiness 2014supervision and regulation 2014activities restrictions under the volcker rule . 201d u.s . department of labor conflict of interest rule the u.s . dol 2019s final conflict of interest rule under erisa went into effect on june 9 , 2017 , with certain aspects subject to phased-in compliance . full compliance with the rule 2019s related exemptions is currently scheduled to be required by july 1 , 2019 . in addition , the u.s . dol is undertaking an examination of the rule that may result in changes to the rule or its related exemptions or a change in the full compliance date . for a discussion of the u.s . dol conflict of interest rule , see 201cbusiness 2014supervision and regulation 2014instit- utional securities and wealth management . 201d u.k . referendum following the u.k . electorate vote to leave the e.u. , the u.k . invoked article 50 of the lisbon treaty on march 29 , 2017 , which triggered a two-year period , subject to extension ( which would need the unanimous approval of the e.u . member states ) , during which the u.k . government is expected to negotiate its withdrawal agreement with the e.u . for further discussion of u.k . referendum 2019s potential impact on our operations , see 201crisk factors 2014international risk . 201d for further information regarding our exposure to the u.k. , see also 201cquantitative and qualitative disclosures about market risk 2014risk management 2014credit risk 2014country risk exposure . 201d 69 december 2017 form 10-k .

2,017

74

MS

Morgan Stanley

Financials

Investment Banking & Brokerage

New York City, New York

1993-07-29

895,421

1935

null

finqa289

what was the return on total assets during 2014?

5.4%

divide(338, 6239)

item 6 . selected financial data the following table sets forth our selected financial data . the table should be read in conjunction with item 7 and item 8 of this annual report on form 10-k. .

( 1 ) long-term debt does not include the current portion of long-term debt , which is included in current liabilities . ( 2 ) free cash flow is a non-gaap financial measure and represents cash from operating activities less capital expenditures net of related grant proceeds . see liquidity and capital resources in item 7 for more information on this measure. .

| | ( $ in millions except per share amounts ) | year ended december 31 2017 | year ended december 31 2016 | year ended december 31 2015 | year ended december 31 2014 | year ended december 31 2013 | |---:|:------------------------------------------------------|:------------------------------|:------------------------------|:------------------------------|:------------------------------|:------------------------------| | 0 | sales and service revenues | $ 7441 | $ 7068 | $ 7020 | $ 6957 | $ 6820 | | 1 | goodwill impairment | 2014 | 2014 | 75 | 47 | 2014 | | 2 | operating income ( loss ) | 865 | 858 | 769 | 655 | 512 | | 3 | net earnings ( loss ) | 479 | 573 | 404 | 338 | 261 | | 4 | total assets | 6374 | 6352 | 6024 | 6239 | 6190 | | 5 | long-term debt ( 1 ) | 1279 | 1278 | 1273 | 1562 | 1665 | | 6 | total long-term obligations | 3225 | 3356 | 3260 | 3562 | 3277 | | 7 | net cash provided by ( used in ) operating activities | 814 | 822 | 861 | 755 | 260 | | 8 | free cash flow ( 2 ) | 453 | 537 | 673 | 590 | 121 | | 9 | dividends declared per share | $ 2.52 | $ 2.10 | $ 1.70 | $ 1.00 | $ 0.50 | | 10 | basic earnings ( loss ) per share | $ 10.48 | $ 12.24 | $ 8.43 | $ 6.93 | $ 5.25 | | 11 | diluted earnings ( loss ) per share | $ 10.46 | $ 12.14 | $ 8.36 | $ 6.86 | $ 5.18 |

item 6 . selected financial data the following table sets forth our selected financial data . the table should be read in conjunction with item 7 and item 8 of this annual report on form 10-k. ._| | ( $ in millions except per share amounts ) | year ended december 31 2017 | year ended december 31 2016 | year ended december 31 2015 | year ended december 31 2014 | year ended december 31 2013 | |---:|:------------------------------------------------------|:------------------------------|:------------------------------|:------------------------------|:------------------------------|:------------------------------| | 0 | sales and service revenues | $ 7441 | $ 7068 | $ 7020 | $ 6957 | $ 6820 | | 1 | goodwill impairment | 2014 | 2014 | 75 | 47 | 2014 | | 2 | operating income ( loss ) | 865 | 858 | 769 | 655 | 512 | | 3 | net earnings ( loss ) | 479 | 573 | 404 | 338 | 261 | | 4 | total assets | 6374 | 6352 | 6024 | 6239 | 6190 | | 5 | long-term debt ( 1 ) | 1279 | 1278 | 1273 | 1562 | 1665 | | 6 | total long-term obligations | 3225 | 3356 | 3260 | 3562 | 3277 | | 7 | net cash provided by ( used in ) operating activities | 814 | 822 | 861 | 755 | 260 | | 8 | free cash flow ( 2 ) | 453 | 537 | 673 | 590 | 121 | | 9 | dividends declared per share | $ 2.52 | $ 2.10 | $ 1.70 | $ 1.00 | $ 0.50 | | 10 | basic earnings ( loss ) per share | $ 10.48 | $ 12.24 | $ 8.43 | $ 6.93 | $ 5.25 | | 11 | diluted earnings ( loss ) per share | $ 10.46 | $ 12.14 | $ 8.36 | $ 6.86 | $ 5.18 |_( 1 ) long-term debt does not include the current portion of long-term debt , which is included in current liabilities . ( 2 ) free cash flow is a non-gaap financial measure and represents cash from operating activities less capital expenditures net of related grant proceeds . see liquidity and capital resources in item 7 for more information on this measure. .

2,017

47

HII

Huntington Ingalls Industries

Industrials

Aerospace & Defense

Newport News, Virginia

2018-01-03

1,501,585

2011

what was the return on total assets during 2014?

5.4%

divide(338, 6239)

item 6 . selected financial data the following table sets forth our selected financial data . the table should be read in conjunction with item 7 and item 8 of this annual report on form 10-k. .

( 1 ) long-term debt does not include the current portion of long-term debt , which is included in current liabilities . ( 2 ) free cash flow is a non-gaap financial measure and represents cash from operating activities less capital expenditures net of related grant proceeds . see liquidity and capital resources in item 7 for more information on this measure. .

| | ( $ in millions except per share amounts ) | year ended december 31 2017 | year ended december 31 2016 | year ended december 31 2015 | year ended december 31 2014 | year ended december 31 2013 | |---:|:------------------------------------------------------|:------------------------------|:------------------------------|:------------------------------|:------------------------------|:------------------------------| | 0 | sales and service revenues | $ 7441 | $ 7068 | $ 7020 | $ 6957 | $ 6820 | | 1 | goodwill impairment | 2014 | 2014 | 75 | 47 | 2014 | | 2 | operating income ( loss ) | 865 | 858 | 769 | 655 | 512 | | 3 | net earnings ( loss ) | 479 | 573 | 404 | 338 | 261 | | 4 | total assets | 6374 | 6352 | 6024 | 6239 | 6190 | | 5 | long-term debt ( 1 ) | 1279 | 1278 | 1273 | 1562 | 1665 | | 6 | total long-term obligations | 3225 | 3356 | 3260 | 3562 | 3277 | | 7 | net cash provided by ( used in ) operating activities | 814 | 822 | 861 | 755 | 260 | | 8 | free cash flow ( 2 ) | 453 | 537 | 673 | 590 | 121 | | 9 | dividends declared per share | $ 2.52 | $ 2.10 | $ 1.70 | $ 1.00 | $ 0.50 | | 10 | basic earnings ( loss ) per share | $ 10.48 | $ 12.24 | $ 8.43 | $ 6.93 | $ 5.25 | | 11 | diluted earnings ( loss ) per share | $ 10.46 | $ 12.14 | $ 8.36 | $ 6.86 | $ 5.18 |

item 6 . selected financial data the following table sets forth our selected financial data . the table should be read in conjunction with item 7 and item 8 of this annual report on form 10-k. ._| | ( $ in millions except per share amounts ) | year ended december 31 2017 | year ended december 31 2016 | year ended december 31 2015 | year ended december 31 2014 | year ended december 31 2013 | |---:|:------------------------------------------------------|:------------------------------|:------------------------------|:------------------------------|:------------------------------|:------------------------------| | 0 | sales and service revenues | $ 7441 | $ 7068 | $ 7020 | $ 6957 | $ 6820 | | 1 | goodwill impairment | 2014 | 2014 | 75 | 47 | 2014 | | 2 | operating income ( loss ) | 865 | 858 | 769 | 655 | 512 | | 3 | net earnings ( loss ) | 479 | 573 | 404 | 338 | 261 | | 4 | total assets | 6374 | 6352 | 6024 | 6239 | 6190 | | 5 | long-term debt ( 1 ) | 1279 | 1278 | 1273 | 1562 | 1665 | | 6 | total long-term obligations | 3225 | 3356 | 3260 | 3562 | 3277 | | 7 | net cash provided by ( used in ) operating activities | 814 | 822 | 861 | 755 | 260 | | 8 | free cash flow ( 2 ) | 453 | 537 | 673 | 590 | 121 | | 9 | dividends declared per share | $ 2.52 | $ 2.10 | $ 1.70 | $ 1.00 | $ 0.50 | | 10 | basic earnings ( loss ) per share | $ 10.48 | $ 12.24 | $ 8.43 | $ 6.93 | $ 5.25 | | 11 | diluted earnings ( loss ) per share | $ 10.46 | $ 12.14 | $ 8.36 | $ 6.86 | $ 5.18 |_( 1 ) long-term debt does not include the current portion of long-term debt , which is included in current liabilities . ( 2 ) free cash flow is a non-gaap financial measure and represents cash from operating activities less capital expenditures net of related grant proceeds . see liquidity and capital resources in item 7 for more information on this measure. .

2,017

47

HII

Huntington Ingalls Industries

Industrials

Aerospace & Defense

Newport News, Virginia

2018-01-03

1,501,585

2011

null

finqa290

what is the net change in shares of common stock outstanding from 2013 to 2014 in millions?

6

subtract(1951, 1945)

morgan stanley notes to consolidated financial statements 2014 ( continued ) other regulated subsidiaries . certain other u.s . and non-u.s . subsidiaries are subject to various securities , commodities and banking regulations , and capital adequacy requirements promulgated by the regulatory and exchange authorities of the countries in which they operate . these subsidiaries have consistently operated with capital in excess of their local capital adequacy requirements . morgan stanley derivative products inc . ( 201cmsdp 201d ) , a derivative products subsidiary rated a3 by moody 2019s and aa- by s&p , maintains certain operating restrictions that have been reviewed by moody 2019s and s&p . msdp is operated such that creditors of the company should not expect to have any claims on the assets of msdp , unless and until the obligations to its own creditors are satisfied in full . creditors of msdp should not expect to have any claims on the assets of the company or any of its affiliates , other than the respective assets of msdp . the regulatory capital requirements referred to above , and certain covenants contained in various agreements governing indebtedness of the company , may restrict the company 2019s ability to withdraw capital from its subsidiaries . at december 31 , 2014 and december 31 , 2013 , approximately $ 31.8 billion and $ 21.9 billion , respectively , of net assets of consolidated subsidiaries may be restricted as to the payment of cash dividends and advances to the parent company . 15 . total equity morgan stanley shareholders 2019 equity . common stock . changes in shares of common stock outstanding for 2014 and 2013 were as follows ( share data in millions ) : .

( 1 ) treasury stock purchases include repurchases of common stock for employee tax withholding . ( 2 ) other includes net shares issued to and forfeited from employee stock trusts and issued for rsu conversions . treasury shares . at december 31 , 2014 , the company had approximately $ 0.3 billion remaining under its current share repurchase program . the share repurchase program is for capital management purposes and considers , among other things , business segment capital needs as well as equity-based compensation and benefit plan requirements . share repurchases under the company 2019s existing authorized program will be exercised from time to time at prices the company deems appropriate subject to various factors , including the company 2019s capital position and market conditions . the share repurchases may be effected through open market purchases or privately negotiated transactions , including through rule 10b5-1 plans , and may be suspended at any time . share repurchases by the company are subject to regulatory approval ( see 201cmarket for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities 201d in part ii , item 5 ) . in march 2014 , the company received no objection from the federal reserve to the company 2019s 2014 capital plan , which included a share repurchase of up to $ 1 billion of the company 2019s outstanding common stock beginning in the second quarter of 2014 through the end of the first quarter of 2015 as well as an increase in the company 2019s quarterly common stock dividend to $ 0.10 per share from $ 0.05 per share , beginning with the dividend declared on april 17 , 2014 . the cash dividends declared on the company 2019s outstanding preferred stock .

| | | 2014 | 2013 | |---:|:------------------------------------------|:-----------|:-----------| | 0 | shares outstanding at beginning of period | 1945 | 1974 | | 1 | treasury stock purchases ( 1 ) | -46 ( 46 ) | -27 ( 27 ) | | 2 | other ( 2 ) | 52 | -2 ( 2 ) | | 3 | shares outstanding at end of period | 1951 | 1945 |

morgan stanley notes to consolidated financial statements 2014 ( continued ) other regulated subsidiaries . certain other u.s . and non-u.s . subsidiaries are subject to various securities , commodities and banking regulations , and capital adequacy requirements promulgated by the regulatory and exchange authorities of the countries in which they operate . these subsidiaries have consistently operated with capital in excess of their local capital adequacy requirements . morgan stanley derivative products inc . ( 201cmsdp 201d ) , a derivative products subsidiary rated a3 by moody 2019s and aa- by s&p , maintains certain operating restrictions that have been reviewed by moody 2019s and s&p . msdp is operated such that creditors of the company should not expect to have any claims on the assets of msdp , unless and until the obligations to its own creditors are satisfied in full . creditors of msdp should not expect to have any claims on the assets of the company or any of its affiliates , other than the respective assets of msdp . the regulatory capital requirements referred to above , and certain covenants contained in various agreements governing indebtedness of the company , may restrict the company 2019s ability to withdraw capital from its subsidiaries . at december 31 , 2014 and december 31 , 2013 , approximately $ 31.8 billion and $ 21.9 billion , respectively , of net assets of consolidated subsidiaries may be restricted as to the payment of cash dividends and advances to the parent company . 15 . total equity morgan stanley shareholders 2019 equity . common stock . changes in shares of common stock outstanding for 2014 and 2013 were as follows ( share data in millions ) : ._| | | 2014 | 2013 | |---:|:------------------------------------------|:-----------|:-----------| | 0 | shares outstanding at beginning of period | 1945 | 1974 | | 1 | treasury stock purchases ( 1 ) | -46 ( 46 ) | -27 ( 27 ) | | 2 | other ( 2 ) | 52 | -2 ( 2 ) | | 3 | shares outstanding at end of period | 1951 | 1945 |_( 1 ) treasury stock purchases include repurchases of common stock for employee tax withholding . ( 2 ) other includes net shares issued to and forfeited from employee stock trusts and issued for rsu conversions . treasury shares . at december 31 , 2014 , the company had approximately $ 0.3 billion remaining under its current share repurchase program . the share repurchase program is for capital management purposes and considers , among other things , business segment capital needs as well as equity-based compensation and benefit plan requirements . share repurchases under the company 2019s existing authorized program will be exercised from time to time at prices the company deems appropriate subject to various factors , including the company 2019s capital position and market conditions . the share repurchases may be effected through open market purchases or privately negotiated transactions , including through rule 10b5-1 plans , and may be suspended at any time . share repurchases by the company are subject to regulatory approval ( see 201cmarket for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities 201d in part ii , item 5 ) . in march 2014 , the company received no objection from the federal reserve to the company 2019s 2014 capital plan , which included a share repurchase of up to $ 1 billion of the company 2019s outstanding common stock beginning in the second quarter of 2014 through the end of the first quarter of 2015 as well as an increase in the company 2019s quarterly common stock dividend to $ 0.10 per share from $ 0.05 per share , beginning with the dividend declared on april 17 , 2014 . the cash dividends declared on the company 2019s outstanding preferred stock .

2,014

267

MS

Morgan Stanley

Financials

Investment Banking & Brokerage

New York City, New York

1993-07-29

895,421

1935

what is the net change in shares of common stock outstanding from 2013 to 2014 in millions?

6

subtract(1951, 1945)

morgan stanley notes to consolidated financial statements 2014 ( continued ) other regulated subsidiaries . certain other u.s . and non-u.s . subsidiaries are subject to various securities , commodities and banking regulations , and capital adequacy requirements promulgated by the regulatory and exchange authorities of the countries in which they operate . these subsidiaries have consistently operated with capital in excess of their local capital adequacy requirements . morgan stanley derivative products inc . ( 201cmsdp 201d ) , a derivative products subsidiary rated a3 by moody 2019s and aa- by s&p , maintains certain operating restrictions that have been reviewed by moody 2019s and s&p . msdp is operated such that creditors of the company should not expect to have any claims on the assets of msdp , unless and until the obligations to its own creditors are satisfied in full . creditors of msdp should not expect to have any claims on the assets of the company or any of its affiliates , other than the respective assets of msdp . the regulatory capital requirements referred to above , and certain covenants contained in various agreements governing indebtedness of the company , may restrict the company 2019s ability to withdraw capital from its subsidiaries . at december 31 , 2014 and december 31 , 2013 , approximately $ 31.8 billion and $ 21.9 billion , respectively , of net assets of consolidated subsidiaries may be restricted as to the payment of cash dividends and advances to the parent company . 15 . total equity morgan stanley shareholders 2019 equity . common stock . changes in shares of common stock outstanding for 2014 and 2013 were as follows ( share data in millions ) : .

( 1 ) treasury stock purchases include repurchases of common stock for employee tax withholding . ( 2 ) other includes net shares issued to and forfeited from employee stock trusts and issued for rsu conversions . treasury shares . at december 31 , 2014 , the company had approximately $ 0.3 billion remaining under its current share repurchase program . the share repurchase program is for capital management purposes and considers , among other things , business segment capital needs as well as equity-based compensation and benefit plan requirements . share repurchases under the company 2019s existing authorized program will be exercised from time to time at prices the company deems appropriate subject to various factors , including the company 2019s capital position and market conditions . the share repurchases may be effected through open market purchases or privately negotiated transactions , including through rule 10b5-1 plans , and may be suspended at any time . share repurchases by the company are subject to regulatory approval ( see 201cmarket for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities 201d in part ii , item 5 ) . in march 2014 , the company received no objection from the federal reserve to the company 2019s 2014 capital plan , which included a share repurchase of up to $ 1 billion of the company 2019s outstanding common stock beginning in the second quarter of 2014 through the end of the first quarter of 2015 as well as an increase in the company 2019s quarterly common stock dividend to $ 0.10 per share from $ 0.05 per share , beginning with the dividend declared on april 17 , 2014 . the cash dividends declared on the company 2019s outstanding preferred stock .

| | | 2014 | 2013 | |---:|:------------------------------------------|:-----------|:-----------| | 0 | shares outstanding at beginning of period | 1945 | 1974 | | 1 | treasury stock purchases ( 1 ) | -46 ( 46 ) | -27 ( 27 ) | | 2 | other ( 2 ) | 52 | -2 ( 2 ) | | 3 | shares outstanding at end of period | 1951 | 1945 |

morgan stanley notes to consolidated financial statements 2014 ( continued ) other regulated subsidiaries . certain other u.s . and non-u.s . subsidiaries are subject to various securities , commodities and banking regulations , and capital adequacy requirements promulgated by the regulatory and exchange authorities of the countries in which they operate . these subsidiaries have consistently operated with capital in excess of their local capital adequacy requirements . morgan stanley derivative products inc . ( 201cmsdp 201d ) , a derivative products subsidiary rated a3 by moody 2019s and aa- by s&p , maintains certain operating restrictions that have been reviewed by moody 2019s and s&p . msdp is operated such that creditors of the company should not expect to have any claims on the assets of msdp , unless and until the obligations to its own creditors are satisfied in full . creditors of msdp should not expect to have any claims on the assets of the company or any of its affiliates , other than the respective assets of msdp . the regulatory capital requirements referred to above , and certain covenants contained in various agreements governing indebtedness of the company , may restrict the company 2019s ability to withdraw capital from its subsidiaries . at december 31 , 2014 and december 31 , 2013 , approximately $ 31.8 billion and $ 21.9 billion , respectively , of net assets of consolidated subsidiaries may be restricted as to the payment of cash dividends and advances to the parent company . 15 . total equity morgan stanley shareholders 2019 equity . common stock . changes in shares of common stock outstanding for 2014 and 2013 were as follows ( share data in millions ) : ._| | | 2014 | 2013 | |---:|:------------------------------------------|:-----------|:-----------| | 0 | shares outstanding at beginning of period | 1945 | 1974 | | 1 | treasury stock purchases ( 1 ) | -46 ( 46 ) | -27 ( 27 ) | | 2 | other ( 2 ) | 52 | -2 ( 2 ) | | 3 | shares outstanding at end of period | 1951 | 1945 |_( 1 ) treasury stock purchases include repurchases of common stock for employee tax withholding . ( 2 ) other includes net shares issued to and forfeited from employee stock trusts and issued for rsu conversions . treasury shares . at december 31 , 2014 , the company had approximately $ 0.3 billion remaining under its current share repurchase program . the share repurchase program is for capital management purposes and considers , among other things , business segment capital needs as well as equity-based compensation and benefit plan requirements . share repurchases under the company 2019s existing authorized program will be exercised from time to time at prices the company deems appropriate subject to various factors , including the company 2019s capital position and market conditions . the share repurchases may be effected through open market purchases or privately negotiated transactions , including through rule 10b5-1 plans , and may be suspended at any time . share repurchases by the company are subject to regulatory approval ( see 201cmarket for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities 201d in part ii , item 5 ) . in march 2014 , the company received no objection from the federal reserve to the company 2019s 2014 capital plan , which included a share repurchase of up to $ 1 billion of the company 2019s outstanding common stock beginning in the second quarter of 2014 through the end of the first quarter of 2015 as well as an increase in the company 2019s quarterly common stock dividend to $ 0.10 per share from $ 0.05 per share , beginning with the dividend declared on april 17 , 2014 . the cash dividends declared on the company 2019s outstanding preferred stock .

2,014

267

MS

Morgan Stanley

Financials

Investment Banking & Brokerage

New York City, New York

1993-07-29

895,421

1935

null

finqa291

on february 13 , 2009 what was the market capitalization

11456267981.5

divide(397097677, 28.85)

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 2008 and 2007. .

on february 13 , 2009 , the closing price of our common stock was $ 28.85 per share as reported on the nyse . as of february 13 , 2009 , we had 397097677 outstanding shares of common stock and 499 registered holders . dividends we have never paid a dividend on our common stock . we anticipate that we may retain future earnings , if any , to fund the development and growth of our business . the indentures governing our 7.50% ( 7.50 % ) senior notes due 2012 ( 201c7.50% ( 201c7.50 % ) notes 201d ) and our 7.125% ( 7.125 % ) senior notes due 2012 ( 201c7.125% ( 201c7.125 % ) notes 201d ) may prohibit us from paying dividends to our stockholders unless we satisfy certain financial covenants . the loan agreement for our revolving credit facility and term loan , and the indentures governing the terms of our 7.50% ( 7.50 % ) notes and 7.125% ( 7.125 % ) notes contain covenants that restrict our ability to pay dividends unless certain financial covenants are satisfied . in addition , while spectrasite and its subsidiaries are classified as unrestricted subsidiaries under the indentures for our 7.50% ( 7.50 % ) notes and 7.125% ( 7.125 % ) notes , certain of spectrasite 2019s subsidiaries are subject to restrictions on the amount of cash that they can distribute to us under the loan agreement related to our securitization transaction . for more information about the restrictions under the loan agreement for the revolving credit facility and term loan , our notes indentures and the loan agreement related to our securitization transaction , see item 7 of this annual report under the caption 201cmanagement 2019s discussion and analysis of financial condition and results of operations 2014liquidity and capital resources 2014factors affecting sources of liquidity 201d and note 6 to our consolidated financial statements included in this annual report. .

| | 2008 | high | low | |---:|:---------------------------|:--------|:--------| | 0 | quarter ended march 31 | $ 42.72 | $ 32.10 | | 1 | quarter ended june 30 | 46.10 | 38.53 | | 2 | quarter ended september 30 | 43.43 | 31.89 | | 3 | quarter ended december 31 | 37.28 | 19.35 | | 4 | 2007 | high | low | | 5 | quarter ended march 31 | $ 41.31 | $ 36.63 | | 6 | quarter ended june 30 | 43.84 | 37.64 | | 7 | quarter ended september 30 | 45.45 | 36.34 | | 8 | quarter ended december 31 | 46.53 | 40.08 |

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 2008 and 2007. ._| | 2008 | high | low | |---:|:---------------------------|:--------|:--------| | 0 | quarter ended march 31 | $ 42.72 | $ 32.10 | | 1 | quarter ended june 30 | 46.10 | 38.53 | | 2 | quarter ended september 30 | 43.43 | 31.89 | | 3 | quarter ended december 31 | 37.28 | 19.35 | | 4 | 2007 | high | low | | 5 | quarter ended march 31 | $ 41.31 | $ 36.63 | | 6 | quarter ended june 30 | 43.84 | 37.64 | | 7 | quarter ended september 30 | 45.45 | 36.34 | | 8 | quarter ended december 31 | 46.53 | 40.08 |_on february 13 , 2009 , the closing price of our common stock was $ 28.85 per share as reported on the nyse . as of february 13 , 2009 , we had 397097677 outstanding shares of common stock and 499 registered holders . dividends we have never paid a dividend on our common stock . we anticipate that we may retain future earnings , if any , to fund the development and growth of our business . the indentures governing our 7.50% ( 7.50 % ) senior notes due 2012 ( 201c7.50% ( 201c7.50 % ) notes 201d ) and our 7.125% ( 7.125 % ) senior notes due 2012 ( 201c7.125% ( 201c7.125 % ) notes 201d ) may prohibit us from paying dividends to our stockholders unless we satisfy certain financial covenants . the loan agreement for our revolving credit facility and term loan , and the indentures governing the terms of our 7.50% ( 7.50 % ) notes and 7.125% ( 7.125 % ) notes contain covenants that restrict our ability to pay dividends unless certain financial covenants are satisfied . in addition , while spectrasite and its subsidiaries are classified as unrestricted subsidiaries under the indentures for our 7.50% ( 7.50 % ) notes and 7.125% ( 7.125 % ) notes , certain of spectrasite 2019s subsidiaries are subject to restrictions on the amount of cash that they can distribute to us under the loan agreement related to our securitization transaction . for more information about the restrictions under the loan agreement for the revolving credit facility and term loan , our notes indentures and the loan agreement related to our securitization transaction , see item 7 of this annual report under the caption 201cmanagement 2019s discussion and analysis of financial condition and results of operations 2014liquidity and capital resources 2014factors affecting sources of liquidity 201d and note 6 to our consolidated financial statements included in this annual report. .

2,008

32

AMT

American Tower

Real Estate

Telecom Tower REITs

Boston, Massachusetts

2007-11-19

1,053,507

1995

on february 13 , 2009 what was the market capitalization

11456267981.5

divide(397097677, 28.85)

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 2008 and 2007. .

on february 13 , 2009 , the closing price of our common stock was $ 28.85 per share as reported on the nyse . as of february 13 , 2009 , we had 397097677 outstanding shares of common stock and 499 registered holders . dividends we have never paid a dividend on our common stock . we anticipate that we may retain future earnings , if any , to fund the development and growth of our business . the indentures governing our 7.50% ( 7.50 % ) senior notes due 2012 ( 201c7.50% ( 201c7.50 % ) notes 201d ) and our 7.125% ( 7.125 % ) senior notes due 2012 ( 201c7.125% ( 201c7.125 % ) notes 201d ) may prohibit us from paying dividends to our stockholders unless we satisfy certain financial covenants . the loan agreement for our revolving credit facility and term loan , and the indentures governing the terms of our 7.50% ( 7.50 % ) notes and 7.125% ( 7.125 % ) notes contain covenants that restrict our ability to pay dividends unless certain financial covenants are satisfied . in addition , while spectrasite and its subsidiaries are classified as unrestricted subsidiaries under the indentures for our 7.50% ( 7.50 % ) notes and 7.125% ( 7.125 % ) notes , certain of spectrasite 2019s subsidiaries are subject to restrictions on the amount of cash that they can distribute to us under the loan agreement related to our securitization transaction . for more information about the restrictions under the loan agreement for the revolving credit facility and term loan , our notes indentures and the loan agreement related to our securitization transaction , see item 7 of this annual report under the caption 201cmanagement 2019s discussion and analysis of financial condition and results of operations 2014liquidity and capital resources 2014factors affecting sources of liquidity 201d and note 6 to our consolidated financial statements included in this annual report. .

| | 2008 | high | low | |---:|:---------------------------|:--------|:--------| | 0 | quarter ended march 31 | $ 42.72 | $ 32.10 | | 1 | quarter ended june 30 | 46.10 | 38.53 | | 2 | quarter ended september 30 | 43.43 | 31.89 | | 3 | quarter ended december 31 | 37.28 | 19.35 | | 4 | 2007 | high | low | | 5 | quarter ended march 31 | $ 41.31 | $ 36.63 | | 6 | quarter ended june 30 | 43.84 | 37.64 | | 7 | quarter ended september 30 | 45.45 | 36.34 | | 8 | quarter ended december 31 | 46.53 | 40.08 |

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 2008 and 2007. ._| | 2008 | high | low | |---:|:---------------------------|:--------|:--------| | 0 | quarter ended march 31 | $ 42.72 | $ 32.10 | | 1 | quarter ended june 30 | 46.10 | 38.53 | | 2 | quarter ended september 30 | 43.43 | 31.89 | | 3 | quarter ended december 31 | 37.28 | 19.35 | | 4 | 2007 | high | low | | 5 | quarter ended march 31 | $ 41.31 | $ 36.63 | | 6 | quarter ended june 30 | 43.84 | 37.64 | | 7 | quarter ended september 30 | 45.45 | 36.34 | | 8 | quarter ended december 31 | 46.53 | 40.08 |_on february 13 , 2009 , the closing price of our common stock was $ 28.85 per share as reported on the nyse . as of february 13 , 2009 , we had 397097677 outstanding shares of common stock and 499 registered holders . dividends we have never paid a dividend on our common stock . we anticipate that we may retain future earnings , if any , to fund the development and growth of our business . the indentures governing our 7.50% ( 7.50 % ) senior notes due 2012 ( 201c7.50% ( 201c7.50 % ) notes 201d ) and our 7.125% ( 7.125 % ) senior notes due 2012 ( 201c7.125% ( 201c7.125 % ) notes 201d ) may prohibit us from paying dividends to our stockholders unless we satisfy certain financial covenants . the loan agreement for our revolving credit facility and term loan , and the indentures governing the terms of our 7.50% ( 7.50 % ) notes and 7.125% ( 7.125 % ) notes contain covenants that restrict our ability to pay dividends unless certain financial covenants are satisfied . in addition , while spectrasite and its subsidiaries are classified as unrestricted subsidiaries under the indentures for our 7.50% ( 7.50 % ) notes and 7.125% ( 7.125 % ) notes , certain of spectrasite 2019s subsidiaries are subject to restrictions on the amount of cash that they can distribute to us under the loan agreement related to our securitization transaction . for more information about the restrictions under the loan agreement for the revolving credit facility and term loan , our notes indentures and the loan agreement related to our securitization transaction , see item 7 of this annual report under the caption 201cmanagement 2019s discussion and analysis of financial condition and results of operations 2014liquidity and capital resources 2014factors affecting sources of liquidity 201d and note 6 to our consolidated financial statements included in this annual report. .

2,008

32

AMT

American Tower

Real Estate

Telecom Tower REITs

Boston, Massachusetts

2007-11-19

1,053,507

1995

null

finqa292

what portion of the suros acquisition price is paid in cash?

56.0%

divide(139000, 248100)

hologic , inc . notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) 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 . ( 201csuros 201d ) , 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 4600 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 final 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 . the company has considered the provision of eitf issue no . 95-8 , accounting for contingent consideration paid to the shareholders of and acquired enterprise in a purchase business combination , and concluded that this contingent consideration represents additional purchase price . during the fourth quarter of fiscal 2007 the company paid approximately $ 19000 to former suros shareholders for the first annual earn-out period resulting in an increase to goodwill for the same amount . the company also accrued $ 24500 for the second and final earn-out related to suros 2019 incremental revenue growth during the fourth quarter of fiscal 2008 , with an increase to goodwill , of which $ 24400 had been paid as of september 27 , 2008 . in addition to the earn-out discussed above , the company decreased goodwill in the amount of $ 1300 during the year ended september 27 , 2008 and increased goodwill in the amount of $ 210 during the year ended september 29 , 2007 . the increase in 2007 was primarily related to recording a liability of approximately $ 550 in accordance with eitf 95-3 related to the termination of certain employees who have ceased all services for the company . approximately $ 400 of this liability was paid during the year ended september 29 , 2007 and the balance was paid during fiscal 2008 . this increase was partially offset by a decrease to goodwill as a result of a change in the valuation of certain assets and liabilities acquired based on information received during the year ended september 29 , 2007 . the decrease in goodwill during 2008 was related to the reduction of an income tax liability . there have been no other material changes to purchase price allocations. .

| | net tangible assets acquired as of july 27 2006 | $ 13100 | |---:|:--------------------------------------------------|:-----------------| | 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 | 181700 | | 6 | final purchase price | $ 248100 |

hologic , inc . notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) 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 . ( 201csuros 201d ) , 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 4600 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 final purchase price , consists of the following approximate amounts: ._| | net tangible assets acquired as of july 27 2006 | $ 13100 | |---:|:--------------------------------------------------|:-----------------| | 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 | 181700 | | 6 | final purchase price | $ 248100 |_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 . the company has considered the provision of eitf issue no . 95-8 , accounting for contingent consideration paid to the shareholders of and acquired enterprise in a purchase business combination , and concluded that this contingent consideration represents additional purchase price . during the fourth quarter of fiscal 2007 the company paid approximately $ 19000 to former suros shareholders for the first annual earn-out period resulting in an increase to goodwill for the same amount . the company also accrued $ 24500 for the second and final earn-out related to suros 2019 incremental revenue growth during the fourth quarter of fiscal 2008 , with an increase to goodwill , of which $ 24400 had been paid as of september 27 , 2008 . in addition to the earn-out discussed above , the company decreased goodwill in the amount of $ 1300 during the year ended september 27 , 2008 and increased goodwill in the amount of $ 210 during the year ended september 29 , 2007 . the increase in 2007 was primarily related to recording a liability of approximately $ 550 in accordance with eitf 95-3 related to the termination of certain employees who have ceased all services for the company . approximately $ 400 of this liability was paid during the year ended september 29 , 2007 and the balance was paid during fiscal 2008 . this increase was partially offset by a decrease to goodwill as a result of a change in the valuation of certain assets and liabilities acquired based on information received during the year ended september 29 , 2007 . the decrease in goodwill during 2008 was related to the reduction of an income tax liability . there have been no other material changes to purchase price allocations. .

2,008

144

HOLX

Hologic

Health Care

Health Care Equipment

Marlborough, Massachusetts

2016-03-30

859,737

1985

what portion of the suros acquisition price is paid in cash?

56.0%

divide(139000, 248100)

hologic , inc . notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) 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 . ( 201csuros 201d ) , 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 4600 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 final 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 . the company has considered the provision of eitf issue no . 95-8 , accounting for contingent consideration paid to the shareholders of and acquired enterprise in a purchase business combination , and concluded that this contingent consideration represents additional purchase price . during the fourth quarter of fiscal 2007 the company paid approximately $ 19000 to former suros shareholders for the first annual earn-out period resulting in an increase to goodwill for the same amount . the company also accrued $ 24500 for the second and final earn-out related to suros 2019 incremental revenue growth during the fourth quarter of fiscal 2008 , with an increase to goodwill , of which $ 24400 had been paid as of september 27 , 2008 . in addition to the earn-out discussed above , the company decreased goodwill in the amount of $ 1300 during the year ended september 27 , 2008 and increased goodwill in the amount of $ 210 during the year ended september 29 , 2007 . the increase in 2007 was primarily related to recording a liability of approximately $ 550 in accordance with eitf 95-3 related to the termination of certain employees who have ceased all services for the company . approximately $ 400 of this liability was paid during the year ended september 29 , 2007 and the balance was paid during fiscal 2008 . this increase was partially offset by a decrease to goodwill as a result of a change in the valuation of certain assets and liabilities acquired based on information received during the year ended september 29 , 2007 . the decrease in goodwill during 2008 was related to the reduction of an income tax liability . there have been no other material changes to purchase price allocations. .

| | net tangible assets acquired as of july 27 2006 | $ 13100 | |---:|:--------------------------------------------------|:-----------------| | 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 | 181700 | | 6 | final purchase price | $ 248100 |

hologic , inc . notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) 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 . ( 201csuros 201d ) , 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 4600 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 final purchase price , consists of the following approximate amounts: ._| | net tangible assets acquired as of july 27 2006 | $ 13100 | |---:|:--------------------------------------------------|:-----------------| | 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 | 181700 | | 6 | final purchase price | $ 248100 |_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 . the company has considered the provision of eitf issue no . 95-8 , accounting for contingent consideration paid to the shareholders of and acquired enterprise in a purchase business combination , and concluded that this contingent consideration represents additional purchase price . during the fourth quarter of fiscal 2007 the company paid approximately $ 19000 to former suros shareholders for the first annual earn-out period resulting in an increase to goodwill for the same amount . the company also accrued $ 24500 for the second and final earn-out related to suros 2019 incremental revenue growth during the fourth quarter of fiscal 2008 , with an increase to goodwill , of which $ 24400 had been paid as of september 27 , 2008 . in addition to the earn-out discussed above , the company decreased goodwill in the amount of $ 1300 during the year ended september 27 , 2008 and increased goodwill in the amount of $ 210 during the year ended september 29 , 2007 . the increase in 2007 was primarily related to recording a liability of approximately $ 550 in accordance with eitf 95-3 related to the termination of certain employees who have ceased all services for the company . approximately $ 400 of this liability was paid during the year ended september 29 , 2007 and the balance was paid during fiscal 2008 . this increase was partially offset by a decrease to goodwill as a result of a change in the valuation of certain assets and liabilities acquired based on information received during the year ended september 29 , 2007 . the decrease in goodwill during 2008 was related to the reduction of an income tax liability . there have been no other material changes to purchase price allocations. .

2,008

144

HOLX

Hologic

Health Care

Health Care Equipment

Marlborough, Massachusetts

2016-03-30

859,737

1985

null

finqa293

as of december 31 , 2016 what was the percent of the total commercial lending of the total commitments to extend credit and other commitments

66.05%

divide(108256, 163897)

note 20 commitments in the normal course of business , we have various commitments outstanding , certain of which are not included on our consolidated balance sheet . the following table presents our outstanding commitments to extend credit along with significant other commitments as of december 31 , 2016 and december 31 , 2015 , respectively . table 98 : commitments to extend credit and other commitments in millions december 31 december 31 .

commitments to extend credit , or net unfunded loan commitments , represent arrangements to lend funds or provide liquidity subject to specified contractual conditions . these commitments generally have fixed expiration dates , may require payment of a fee , and contain termination clauses in the event the customer 2019s credit quality deteriorates . net outstanding standby letters of credit we issue standby letters of credit and share in the risk of standby letters of credit issued by other financial institutions , in each case to support obligations of our customers to third parties , such as insurance requirements and the facilitation of transactions involving capital markets product execution . approximately 94% ( 94 % ) and 93% ( 93 % ) of our net outstanding standby letters of credit were rated as pass as of december 31 , 2016 and december 31 , 2015 , respectively , with the remainder rated as below pass . an internal credit rating of pass indicates the expected risk of loss is currently low , while a rating of below pass indicates a higher degree of risk . if the customer fails to meet its financial or performance obligation to the third party under the terms of the contract or there is a need to support a remarketing program , then upon a draw by a beneficiary , subject to the terms of the letter of credit , we would be obligated to make payment to them . the standby letters of credit outstanding on december 31 , 2016 had terms ranging from less than 1 year to 8 years . as of december 31 , 2016 , assets of $ 1.0 billion secured certain specifically identified standby letters of credit . in addition , a portion of the remaining standby letters of credit issued on behalf of specific customers is also secured by collateral or guarantees that secure the customers 2019 other obligations to us . the carrying amount of the liability for our obligations related to standby letters of credit and participations in standby letters of credit was $ .2 billion at december 31 , 2016 and is included in other liabilities on our consolidated balance sheet . the pnc financial services group , inc . 2013 form 10-k 161 .

| | in millions | december 312016 | december 312015 | |---:|:---------------------------------------------------------|:------------------|:------------------| | 0 | commitments to extend credit | | | | 1 | total commercial lending | $ 108256 | $ 101252 | | 2 | home equity lines of credit | 17438 | 17268 | | 3 | credit card | 22095 | 19937 | | 4 | other | 4192 | 4032 | | 5 | total commitments to extend credit | 151981 | 142489 | | 6 | net outstanding standby letters of credit ( a ) | 8324 | 8765 | | 7 | reinsurance agreements ( b ) | 1835 | 2010 | | 8 | standby bond purchase agreements ( c ) | 790 | 911 | | 9 | other commitments ( d ) | 967 | 966 | | 10 | total commitments to extend credit and other commitments | $ 163897 | $ 155141 |

note 20 commitments in the normal course of business , we have various commitments outstanding , certain of which are not included on our consolidated balance sheet . the following table presents our outstanding commitments to extend credit along with significant other commitments as of december 31 , 2016 and december 31 , 2015 , respectively . table 98 : commitments to extend credit and other commitments in millions december 31 december 31 ._| | in millions | december 312016 | december 312015 | |---:|:---------------------------------------------------------|:------------------|:------------------| | 0 | commitments to extend credit | | | | 1 | total commercial lending | $ 108256 | $ 101252 | | 2 | home equity lines of credit | 17438 | 17268 | | 3 | credit card | 22095 | 19937 | | 4 | other | 4192 | 4032 | | 5 | total commitments to extend credit | 151981 | 142489 | | 6 | net outstanding standby letters of credit ( a ) | 8324 | 8765 | | 7 | reinsurance agreements ( b ) | 1835 | 2010 | | 8 | standby bond purchase agreements ( c ) | 790 | 911 | | 9 | other commitments ( d ) | 967 | 966 | | 10 | total commitments to extend credit and other commitments | $ 163897 | $ 155141 |_commitments to extend credit , or net unfunded loan commitments , represent arrangements to lend funds or provide liquidity subject to specified contractual conditions . these commitments generally have fixed expiration dates , may require payment of a fee , and contain termination clauses in the event the customer 2019s credit quality deteriorates . net outstanding standby letters of credit we issue standby letters of credit and share in the risk of standby letters of credit issued by other financial institutions , in each case to support obligations of our customers to third parties , such as insurance requirements and the facilitation of transactions involving capital markets product execution . approximately 94% ( 94 % ) and 93% ( 93 % ) of our net outstanding standby letters of credit were rated as pass as of december 31 , 2016 and december 31 , 2015 , respectively , with the remainder rated as below pass . an internal credit rating of pass indicates the expected risk of loss is currently low , while a rating of below pass indicates a higher degree of risk . if the customer fails to meet its financial or performance obligation to the third party under the terms of the contract or there is a need to support a remarketing program , then upon a draw by a beneficiary , subject to the terms of the letter of credit , we would be obligated to make payment to them . the standby letters of credit outstanding on december 31 , 2016 had terms ranging from less than 1 year to 8 years . as of december 31 , 2016 , assets of $ 1.0 billion secured certain specifically identified standby letters of credit . in addition , a portion of the remaining standby letters of credit issued on behalf of specific customers is also secured by collateral or guarantees that secure the customers 2019 other obligations to us . the carrying amount of the liability for our obligations related to standby letters of credit and participations in standby letters of credit was $ .2 billion at december 31 , 2016 and is included in other liabilities on our consolidated balance sheet . the pnc financial services group , inc . 2013 form 10-k 161 .

2,016

177

PNC

PNC Financial Services

Financials

Diversified Banks

Pittsburgh, Pennsylvania

1988-04-30

713,676

1845

as of december 31 , 2016 what was the percent of the total commercial lending of the total commitments to extend credit and other commitments

66.05%

divide(108256, 163897)

note 20 commitments in the normal course of business , we have various commitments outstanding , certain of which are not included on our consolidated balance sheet . the following table presents our outstanding commitments to extend credit along with significant other commitments as of december 31 , 2016 and december 31 , 2015 , respectively . table 98 : commitments to extend credit and other commitments in millions december 31 december 31 .

commitments to extend credit , or net unfunded loan commitments , represent arrangements to lend funds or provide liquidity subject to specified contractual conditions . these commitments generally have fixed expiration dates , may require payment of a fee , and contain termination clauses in the event the customer 2019s credit quality deteriorates . net outstanding standby letters of credit we issue standby letters of credit and share in the risk of standby letters of credit issued by other financial institutions , in each case to support obligations of our customers to third parties , such as insurance requirements and the facilitation of transactions involving capital markets product execution . approximately 94% ( 94 % ) and 93% ( 93 % ) of our net outstanding standby letters of credit were rated as pass as of december 31 , 2016 and december 31 , 2015 , respectively , with the remainder rated as below pass . an internal credit rating of pass indicates the expected risk of loss is currently low , while a rating of below pass indicates a higher degree of risk . if the customer fails to meet its financial or performance obligation to the third party under the terms of the contract or there is a need to support a remarketing program , then upon a draw by a beneficiary , subject to the terms of the letter of credit , we would be obligated to make payment to them . the standby letters of credit outstanding on december 31 , 2016 had terms ranging from less than 1 year to 8 years . as of december 31 , 2016 , assets of $ 1.0 billion secured certain specifically identified standby letters of credit . in addition , a portion of the remaining standby letters of credit issued on behalf of specific customers is also secured by collateral or guarantees that secure the customers 2019 other obligations to us . the carrying amount of the liability for our obligations related to standby letters of credit and participations in standby letters of credit was $ .2 billion at december 31 , 2016 and is included in other liabilities on our consolidated balance sheet . the pnc financial services group , inc . 2013 form 10-k 161 .

| | in millions | december 312016 | december 312015 | |---:|:---------------------------------------------------------|:------------------|:------------------| | 0 | commitments to extend credit | | | | 1 | total commercial lending | $ 108256 | $ 101252 | | 2 | home equity lines of credit | 17438 | 17268 | | 3 | credit card | 22095 | 19937 | | 4 | other | 4192 | 4032 | | 5 | total commitments to extend credit | 151981 | 142489 | | 6 | net outstanding standby letters of credit ( a ) | 8324 | 8765 | | 7 | reinsurance agreements ( b ) | 1835 | 2010 | | 8 | standby bond purchase agreements ( c ) | 790 | 911 | | 9 | other commitments ( d ) | 967 | 966 | | 10 | total commitments to extend credit and other commitments | $ 163897 | $ 155141 |

note 20 commitments in the normal course of business , we have various commitments outstanding , certain of which are not included on our consolidated balance sheet . the following table presents our outstanding commitments to extend credit along with significant other commitments as of december 31 , 2016 and december 31 , 2015 , respectively . table 98 : commitments to extend credit and other commitments in millions december 31 december 31 ._| | in millions | december 312016 | december 312015 | |---:|:---------------------------------------------------------|:------------------|:------------------| | 0 | commitments to extend credit | | | | 1 | total commercial lending | $ 108256 | $ 101252 | | 2 | home equity lines of credit | 17438 | 17268 | | 3 | credit card | 22095 | 19937 | | 4 | other | 4192 | 4032 | | 5 | total commitments to extend credit | 151981 | 142489 | | 6 | net outstanding standby letters of credit ( a ) | 8324 | 8765 | | 7 | reinsurance agreements ( b ) | 1835 | 2010 | | 8 | standby bond purchase agreements ( c ) | 790 | 911 | | 9 | other commitments ( d ) | 967 | 966 | | 10 | total commitments to extend credit and other commitments | $ 163897 | $ 155141 |_commitments to extend credit , or net unfunded loan commitments , represent arrangements to lend funds or provide liquidity subject to specified contractual conditions . these commitments generally have fixed expiration dates , may require payment of a fee , and contain termination clauses in the event the customer 2019s credit quality deteriorates . net outstanding standby letters of credit we issue standby letters of credit and share in the risk of standby letters of credit issued by other financial institutions , in each case to support obligations of our customers to third parties , such as insurance requirements and the facilitation of transactions involving capital markets product execution . approximately 94% ( 94 % ) and 93% ( 93 % ) of our net outstanding standby letters of credit were rated as pass as of december 31 , 2016 and december 31 , 2015 , respectively , with the remainder rated as below pass . an internal credit rating of pass indicates the expected risk of loss is currently low , while a rating of below pass indicates a higher degree of risk . if the customer fails to meet its financial or performance obligation to the third party under the terms of the contract or there is a need to support a remarketing program , then upon a draw by a beneficiary , subject to the terms of the letter of credit , we would be obligated to make payment to them . the standby letters of credit outstanding on december 31 , 2016 had terms ranging from less than 1 year to 8 years . as of december 31 , 2016 , assets of $ 1.0 billion secured certain specifically identified standby letters of credit . in addition , a portion of the remaining standby letters of credit issued on behalf of specific customers is also secured by collateral or guarantees that secure the customers 2019 other obligations to us . the carrying amount of the liability for our obligations related to standby letters of credit and participations in standby letters of credit was $ .2 billion at december 31 , 2016 and is included in other liabilities on our consolidated balance sheet . the pnc financial services group , inc . 2013 form 10-k 161 .

2,016

177

PNC

PNC Financial Services

Financials

Diversified Banks

Pittsburgh, Pennsylvania

1988-04-30

713,676

1845

null

finqa294

what were average proportional recoverable environmental capital expenditures for the years december 31 , 2015 , 2014 and 2013 , in millions?

159.3

divide(add(110, add(205, 163)), const_3)

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 were average proportional recoverable environmental capital expenditures for the years december 31 , 2015 , 2014 and 2013 , in millions?

159.3

divide(add(110, add(205, 163)), const_3)

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

finqa295

what is the total return is $ 100000 are invested in s&p500 on january 1st , 2015 and sold at the end of 2016?

1877

multiply(divide(100000, const_100), subtract(129.05, 110.28))

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 total return is $ 100000 are invested in s&p500 on january 1st , 2015 and sold at the end of 2016?

1877

multiply(divide(100000, const_100), subtract(129.05, 110.28))

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

finqa296

what was the percentage increase total commitments to extend credit and other commitments

5.3%

divide(subtract(181612, 172521), 172521)

the pnc financial services group , inc . 2013 form 10-k 155 of such other legal proceedings will have a material adverse effect on our financial position . however , we cannot now determine whether or not any claims asserted against us or others to whom we may have indemnification obligations , whether in the proceedings or other matters described above or otherwise , will have a material adverse effect on our results of operations in any future reporting period , which will depend on , among other things , the amount of the loss resulting from the claim and the amount of income otherwise reported for the reporting period . note 20 commitments in the normal course of business , we have various commitments outstanding , certain of which are not included on our consolidated balance sheet . the following table presents our outstanding commitments to extend credit along with significant other commitments as of december 31 , 2018 and 2017 , respectively . table 94 : commitments to extend credit and other commitments in millions december 31 december 31 .

commitments to extend credit , or net unfunded loan commitments , represent arrangements to lend funds or provide liquidity subject to specified contractual conditions . these commitments generally have fixed expiration dates , may require payment of a fee , and generally contain termination clauses in the event the customer 2019s credit quality deteriorates . net outstanding standby letters of credit we issue standby letters of credit and share in the risk of standby letters of credit issued by other financial institutions , in each case to support obligations of our customers to third parties , such as insurance requirements and the facilitation of transactions involving capital markets product execution . approximately 91% ( 91 % ) of our net outstanding standby letters of credit were rated as pass at both december 31 , 2018 and 2017 , with the remainder rated as criticized . an internal credit rating of pass indicates the expected risk of loss is currently low , while a rating of criticized indicates a higher degree of risk . if the customer fails to meet its financial or performance obligation to the third party under the terms of the contract or there is a need to support a remarketing program , then upon a draw by a beneficiary , subject to the terms of the letter of credit , we would be obligated to make payment to them . the standby letters of credit outstanding on december 31 , 2018 had terms ranging from less than one year to six years . as of december 31 , 2018 , assets of $ 1.1 billion secured certain specifically identified standby letters of credit . in addition , a portion of the remaining standby letters of credit issued on behalf of specific customers is also secured by collateral or guarantees that secure the customers 2019 other obligations to us . the carrying amount of the liability for our obligations related to standby letters of credit and participations in standby letters of credit was $ .2 billion at december 31 , 2018 and is included in other liabilities on our consolidated balance sheet. .

| | in millions | december 31 2018 | december 312017 | |---:|:---------------------------------------------------------|:-------------------|:------------------| | 0 | commitments to extend credit | | | | 1 | total commercial lending | $ 120165 | $ 112125 | | 2 | home equity lines of credit | 16944 | 17852 | | 3 | credit card | 27100 | 24911 | | 4 | other | 5069 | 4753 | | 5 | total commitments to extend credit | 169278 | 159641 | | 6 | net outstanding standby letters of credit ( a ) | 8655 | 8651 | | 7 | reinsurance agreements ( b ) | 1549 | 1654 | | 8 | standby bond purchase agreements ( c ) | 1000 | 843 | | 9 | other commitments ( d ) | 1130 | 1732 | | 10 | total commitments to extend credit and other commitments | $ 181612 | $ 172521 |

the pnc financial services group , inc . 2013 form 10-k 155 of such other legal proceedings will have a material adverse effect on our financial position . however , we cannot now determine whether or not any claims asserted against us or others to whom we may have indemnification obligations , whether in the proceedings or other matters described above or otherwise , will have a material adverse effect on our results of operations in any future reporting period , which will depend on , among other things , the amount of the loss resulting from the claim and the amount of income otherwise reported for the reporting period . note 20 commitments in the normal course of business , we have various commitments outstanding , certain of which are not included on our consolidated balance sheet . the following table presents our outstanding commitments to extend credit along with significant other commitments as of december 31 , 2018 and 2017 , respectively . table 94 : commitments to extend credit and other commitments in millions december 31 december 31 ._| | in millions | december 31 2018 | december 312017 | |---:|:---------------------------------------------------------|:-------------------|:------------------| | 0 | commitments to extend credit | | | | 1 | total commercial lending | $ 120165 | $ 112125 | | 2 | home equity lines of credit | 16944 | 17852 | | 3 | credit card | 27100 | 24911 | | 4 | other | 5069 | 4753 | | 5 | total commitments to extend credit | 169278 | 159641 | | 6 | net outstanding standby letters of credit ( a ) | 8655 | 8651 | | 7 | reinsurance agreements ( b ) | 1549 | 1654 | | 8 | standby bond purchase agreements ( c ) | 1000 | 843 | | 9 | other commitments ( d ) | 1130 | 1732 | | 10 | total commitments to extend credit and other commitments | $ 181612 | $ 172521 |_commitments to extend credit , or net unfunded loan commitments , represent arrangements to lend funds or provide liquidity subject to specified contractual conditions . these commitments generally have fixed expiration dates , may require payment of a fee , and generally contain termination clauses in the event the customer 2019s credit quality deteriorates . net outstanding standby letters of credit we issue standby letters of credit and share in the risk of standby letters of credit issued by other financial institutions , in each case to support obligations of our customers to third parties , such as insurance requirements and the facilitation of transactions involving capital markets product execution . approximately 91% ( 91 % ) of our net outstanding standby letters of credit were rated as pass at both december 31 , 2018 and 2017 , with the remainder rated as criticized . an internal credit rating of pass indicates the expected risk of loss is currently low , while a rating of criticized indicates a higher degree of risk . if the customer fails to meet its financial or performance obligation to the third party under the terms of the contract or there is a need to support a remarketing program , then upon a draw by a beneficiary , subject to the terms of the letter of credit , we would be obligated to make payment to them . the standby letters of credit outstanding on december 31 , 2018 had terms ranging from less than one year to six years . as of december 31 , 2018 , assets of $ 1.1 billion secured certain specifically identified standby letters of credit . in addition , a portion of the remaining standby letters of credit issued on behalf of specific customers is also secured by collateral or guarantees that secure the customers 2019 other obligations to us . the carrying amount of the liability for our obligations related to standby letters of credit and participations in standby letters of credit was $ .2 billion at december 31 , 2018 and is included in other liabilities on our consolidated balance sheet. .

2,018

171

PNC

PNC Financial Services

Financials

Diversified Banks

Pittsburgh, Pennsylvania

1988-04-30

713,676

1845

what was the percentage increase total commitments to extend credit and other commitments

5.3%

divide(subtract(181612, 172521), 172521)

the pnc financial services group , inc . 2013 form 10-k 155 of such other legal proceedings will have a material adverse effect on our financial position . however , we cannot now determine whether or not any claims asserted against us or others to whom we may have indemnification obligations , whether in the proceedings or other matters described above or otherwise , will have a material adverse effect on our results of operations in any future reporting period , which will depend on , among other things , the amount of the loss resulting from the claim and the amount of income otherwise reported for the reporting period . note 20 commitments in the normal course of business , we have various commitments outstanding , certain of which are not included on our consolidated balance sheet . the following table presents our outstanding commitments to extend credit along with significant other commitments as of december 31 , 2018 and 2017 , respectively . table 94 : commitments to extend credit and other commitments in millions december 31 december 31 .

commitments to extend credit , or net unfunded loan commitments , represent arrangements to lend funds or provide liquidity subject to specified contractual conditions . these commitments generally have fixed expiration dates , may require payment of a fee , and generally contain termination clauses in the event the customer 2019s credit quality deteriorates . net outstanding standby letters of credit we issue standby letters of credit and share in the risk of standby letters of credit issued by other financial institutions , in each case to support obligations of our customers to third parties , such as insurance requirements and the facilitation of transactions involving capital markets product execution . approximately 91% ( 91 % ) of our net outstanding standby letters of credit were rated as pass at both december 31 , 2018 and 2017 , with the remainder rated as criticized . an internal credit rating of pass indicates the expected risk of loss is currently low , while a rating of criticized indicates a higher degree of risk . if the customer fails to meet its financial or performance obligation to the third party under the terms of the contract or there is a need to support a remarketing program , then upon a draw by a beneficiary , subject to the terms of the letter of credit , we would be obligated to make payment to them . the standby letters of credit outstanding on december 31 , 2018 had terms ranging from less than one year to six years . as of december 31 , 2018 , assets of $ 1.1 billion secured certain specifically identified standby letters of credit . in addition , a portion of the remaining standby letters of credit issued on behalf of specific customers is also secured by collateral or guarantees that secure the customers 2019 other obligations to us . the carrying amount of the liability for our obligations related to standby letters of credit and participations in standby letters of credit was $ .2 billion at december 31 , 2018 and is included in other liabilities on our consolidated balance sheet. .

| | in millions | december 31 2018 | december 312017 | |---:|:---------------------------------------------------------|:-------------------|:------------------| | 0 | commitments to extend credit | | | | 1 | total commercial lending | $ 120165 | $ 112125 | | 2 | home equity lines of credit | 16944 | 17852 | | 3 | credit card | 27100 | 24911 | | 4 | other | 5069 | 4753 | | 5 | total commitments to extend credit | 169278 | 159641 | | 6 | net outstanding standby letters of credit ( a ) | 8655 | 8651 | | 7 | reinsurance agreements ( b ) | 1549 | 1654 | | 8 | standby bond purchase agreements ( c ) | 1000 | 843 | | 9 | other commitments ( d ) | 1130 | 1732 | | 10 | total commitments to extend credit and other commitments | $ 181612 | $ 172521 |

the pnc financial services group , inc . 2013 form 10-k 155 of such other legal proceedings will have a material adverse effect on our financial position . however , we cannot now determine whether or not any claims asserted against us or others to whom we may have indemnification obligations , whether in the proceedings or other matters described above or otherwise , will have a material adverse effect on our results of operations in any future reporting period , which will depend on , among other things , the amount of the loss resulting from the claim and the amount of income otherwise reported for the reporting period . note 20 commitments in the normal course of business , we have various commitments outstanding , certain of which are not included on our consolidated balance sheet . the following table presents our outstanding commitments to extend credit along with significant other commitments as of december 31 , 2018 and 2017 , respectively . table 94 : commitments to extend credit and other commitments in millions december 31 december 31 ._| | in millions | december 31 2018 | december 312017 | |---:|:---------------------------------------------------------|:-------------------|:------------------| | 0 | commitments to extend credit | | | | 1 | total commercial lending | $ 120165 | $ 112125 | | 2 | home equity lines of credit | 16944 | 17852 | | 3 | credit card | 27100 | 24911 | | 4 | other | 5069 | 4753 | | 5 | total commitments to extend credit | 169278 | 159641 | | 6 | net outstanding standby letters of credit ( a ) | 8655 | 8651 | | 7 | reinsurance agreements ( b ) | 1549 | 1654 | | 8 | standby bond purchase agreements ( c ) | 1000 | 843 | | 9 | other commitments ( d ) | 1130 | 1732 | | 10 | total commitments to extend credit and other commitments | $ 181612 | $ 172521 |_commitments to extend credit , or net unfunded loan commitments , represent arrangements to lend funds or provide liquidity subject to specified contractual conditions . these commitments generally have fixed expiration dates , may require payment of a fee , and generally contain termination clauses in the event the customer 2019s credit quality deteriorates . net outstanding standby letters of credit we issue standby letters of credit and share in the risk of standby letters of credit issued by other financial institutions , in each case to support obligations of our customers to third parties , such as insurance requirements and the facilitation of transactions involving capital markets product execution . approximately 91% ( 91 % ) of our net outstanding standby letters of credit were rated as pass at both december 31 , 2018 and 2017 , with the remainder rated as criticized . an internal credit rating of pass indicates the expected risk of loss is currently low , while a rating of criticized indicates a higher degree of risk . if the customer fails to meet its financial or performance obligation to the third party under the terms of the contract or there is a need to support a remarketing program , then upon a draw by a beneficiary , subject to the terms of the letter of credit , we would be obligated to make payment to them . the standby letters of credit outstanding on december 31 , 2018 had terms ranging from less than one year to six years . as of december 31 , 2018 , assets of $ 1.1 billion secured certain specifically identified standby letters of credit . in addition , a portion of the remaining standby letters of credit issued on behalf of specific customers is also secured by collateral or guarantees that secure the customers 2019 other obligations to us . the carrying amount of the liability for our obligations related to standby letters of credit and participations in standby letters of credit was $ .2 billion at december 31 , 2018 and is included in other liabilities on our consolidated balance sheet. .

2,018

171

PNC

PNC Financial Services

Financials

Diversified Banks

Pittsburgh, Pennsylvania

1988-04-30

713,676

1845

null

finqa297

for the quarter ended september 30 , 2013 what was the total number of shares purchased in august

89.9%

divide(6640563, 7385711)

additionally , in october 2013 , our board of directors declared a quarterly cash dividend of $ 0.40 per share of class a common stock ( determined in the case of class b and c common stock , on an as-converted basis ) payable on december 3 , 2013 , to holders of record as of november 15 , 2013 of our class a , b and c common stock . subject to legally available funds , we expect to continue paying quarterly cash dividends on our outstanding class a , b and c common stock in the future . however , the declaration and payment of future dividends is at the sole discretion of our board of directors after taking into account various factors , including , but not limited to , our financial condition , settlement indemnifications , operating results , available cash and current and anticipated cash needs . issuer purchases of equity securities the table below sets forth the information with respect to purchases of the company 2019s common stock made by or on behalf of the company during the quarter ended september 30 , 2013 . period number of shares purchased ( 1 ) average price paid per share number of shares purchased as part of publicly announced plans or programs ( 2 ) approximate dollar value of shares that may yet be purchased under the plans or programs ( 2 ) .

( 1 ) includes 3022 shares of class a common stock withheld at an average price of $ 182.50 per share ( per the terms of grants under the visa 2007 equity incentive compensation plan ) to offset tax withholding obligations that occur upon vesting and release of restricted shares . ( 2 ) the figures in the table reflect transactions according to the trade dates . for purposes of our consolidated financial statements included in this form 10-k , the impact of these repurchases is recorded according to the settlement dates . in october 2013 , the company 2019s board of directors authorized an additional $ 5.0 billion share repurchase program. .

| | period | ( a ) totalnumber ofsharespurchased ( 1 ) | ( b ) averageprice paidper share | ( c ) totalnumber ofsharespurchasedas part ofpubliclyannouncedplans orprograms ( 2 ) | ( d ) approximatedollar valueof shares thatmay yet bepurchasedunder the plans orprograms ( 2 ) | |---:|:--------------------|--------------------------------------------:|:-----------------------------------|---------------------------------------------------------------------------------------:|:-------------------------------------------------------------------------------------------------| | 0 | july 1-31 2013 | 745148 | $ 183.69 | 744500 | $ 1424252596 | | 1 | august 1-31 2013 | 6640563 | $ 176.78 | 6638189 | $ 250658812 | | 2 | september 1-30 2013 | 2014 | $ 2014 | 2014 | $ 250658812 | | 3 | total | 7385711 | $ 177.47 | 7382689 | |

additionally , in october 2013 , our board of directors declared a quarterly cash dividend of $ 0.40 per share of class a common stock ( determined in the case of class b and c common stock , on an as-converted basis ) payable on december 3 , 2013 , to holders of record as of november 15 , 2013 of our class a , b and c common stock . subject to legally available funds , we expect to continue paying quarterly cash dividends on our outstanding class a , b and c common stock in the future . however , the declaration and payment of future dividends is at the sole discretion of our board of directors after taking into account various factors , including , but not limited to , our financial condition , settlement indemnifications , operating results , available cash and current and anticipated cash needs . issuer purchases of equity securities the table below sets forth the information with respect to purchases of the company 2019s common stock made by or on behalf of the company during the quarter ended september 30 , 2013 . period number of shares purchased ( 1 ) average price paid per share number of shares purchased as part of publicly announced plans or programs ( 2 ) approximate dollar value of shares that may yet be purchased under the plans or programs ( 2 ) ._| | period | ( a ) totalnumber ofsharespurchased ( 1 ) | ( b ) averageprice paidper share | ( c ) totalnumber ofsharespurchasedas part ofpubliclyannouncedplans orprograms ( 2 ) | ( d ) approximatedollar valueof shares thatmay yet bepurchasedunder the plans orprograms ( 2 ) | |---:|:--------------------|--------------------------------------------:|:-----------------------------------|---------------------------------------------------------------------------------------:|:-------------------------------------------------------------------------------------------------| | 0 | july 1-31 2013 | 745148 | $ 183.69 | 744500 | $ 1424252596 | | 1 | august 1-31 2013 | 6640563 | $ 176.78 | 6638189 | $ 250658812 | | 2 | september 1-30 2013 | 2014 | $ 2014 | 2014 | $ 250658812 | | 3 | total | 7385711 | $ 177.47 | 7382689 | |_( 1 ) includes 3022 shares of class a common stock withheld at an average price of $ 182.50 per share ( per the terms of grants under the visa 2007 equity incentive compensation plan ) to offset tax withholding obligations that occur upon vesting and release of restricted shares . ( 2 ) the figures in the table reflect transactions according to the trade dates . for purposes of our consolidated financial statements included in this form 10-k , the impact of these repurchases is recorded according to the settlement dates . in october 2013 , the company 2019s board of directors authorized an additional $ 5.0 billion share repurchase program. .

2,013

41

V

Visa Inc.

Financials

Transaction & Payment Processing Services

San Francisco, California

2009-12-21

1,403,161

1958

for the quarter ended september 30 , 2013 what was the total number of shares purchased in august

89.9%

divide(6640563, 7385711)

additionally , in october 2013 , our board of directors declared a quarterly cash dividend of $ 0.40 per share of class a common stock ( determined in the case of class b and c common stock , on an as-converted basis ) payable on december 3 , 2013 , to holders of record as of november 15 , 2013 of our class a , b and c common stock . subject to legally available funds , we expect to continue paying quarterly cash dividends on our outstanding class a , b and c common stock in the future . however , the declaration and payment of future dividends is at the sole discretion of our board of directors after taking into account various factors , including , but not limited to , our financial condition , settlement indemnifications , operating results , available cash and current and anticipated cash needs . issuer purchases of equity securities the table below sets forth the information with respect to purchases of the company 2019s common stock made by or on behalf of the company during the quarter ended september 30 , 2013 . period number of shares purchased ( 1 ) average price paid per share number of shares purchased as part of publicly announced plans or programs ( 2 ) approximate dollar value of shares that may yet be purchased under the plans or programs ( 2 ) .

( 1 ) includes 3022 shares of class a common stock withheld at an average price of $ 182.50 per share ( per the terms of grants under the visa 2007 equity incentive compensation plan ) to offset tax withholding obligations that occur upon vesting and release of restricted shares . ( 2 ) the figures in the table reflect transactions according to the trade dates . for purposes of our consolidated financial statements included in this form 10-k , the impact of these repurchases is recorded according to the settlement dates . in october 2013 , the company 2019s board of directors authorized an additional $ 5.0 billion share repurchase program. .

| | period | ( a ) totalnumber ofsharespurchased ( 1 ) | ( b ) averageprice paidper share | ( c ) totalnumber ofsharespurchasedas part ofpubliclyannouncedplans orprograms ( 2 ) | ( d ) approximatedollar valueof shares thatmay yet bepurchasedunder the plans orprograms ( 2 ) | |---:|:--------------------|--------------------------------------------:|:-----------------------------------|---------------------------------------------------------------------------------------:|:-------------------------------------------------------------------------------------------------| | 0 | july 1-31 2013 | 745148 | $ 183.69 | 744500 | $ 1424252596 | | 1 | august 1-31 2013 | 6640563 | $ 176.78 | 6638189 | $ 250658812 | | 2 | september 1-30 2013 | 2014 | $ 2014 | 2014 | $ 250658812 | | 3 | total | 7385711 | $ 177.47 | 7382689 | |

additionally , in october 2013 , our board of directors declared a quarterly cash dividend of $ 0.40 per share of class a common stock ( determined in the case of class b and c common stock , on an as-converted basis ) payable on december 3 , 2013 , to holders of record as of november 15 , 2013 of our class a , b and c common stock . subject to legally available funds , we expect to continue paying quarterly cash dividends on our outstanding class a , b and c common stock in the future . however , the declaration and payment of future dividends is at the sole discretion of our board of directors after taking into account various factors , including , but not limited to , our financial condition , settlement indemnifications , operating results , available cash and current and anticipated cash needs . issuer purchases of equity securities the table below sets forth the information with respect to purchases of the company 2019s common stock made by or on behalf of the company during the quarter ended september 30 , 2013 . period number of shares purchased ( 1 ) average price paid per share number of shares purchased as part of publicly announced plans or programs ( 2 ) approximate dollar value of shares that may yet be purchased under the plans or programs ( 2 ) ._| | period | ( a ) totalnumber ofsharespurchased ( 1 ) | ( b ) averageprice paidper share | ( c ) totalnumber ofsharespurchasedas part ofpubliclyannouncedplans orprograms ( 2 ) | ( d ) approximatedollar valueof shares thatmay yet bepurchasedunder the plans orprograms ( 2 ) | |---:|:--------------------|--------------------------------------------:|:-----------------------------------|---------------------------------------------------------------------------------------:|:-------------------------------------------------------------------------------------------------| | 0 | july 1-31 2013 | 745148 | $ 183.69 | 744500 | $ 1424252596 | | 1 | august 1-31 2013 | 6640563 | $ 176.78 | 6638189 | $ 250658812 | | 2 | september 1-30 2013 | 2014 | $ 2014 | 2014 | $ 250658812 | | 3 | total | 7385711 | $ 177.47 | 7382689 | |_( 1 ) includes 3022 shares of class a common stock withheld at an average price of $ 182.50 per share ( per the terms of grants under the visa 2007 equity incentive compensation plan ) to offset tax withholding obligations that occur upon vesting and release of restricted shares . ( 2 ) the figures in the table reflect transactions according to the trade dates . for purposes of our consolidated financial statements included in this form 10-k , the impact of these repurchases is recorded according to the settlement dates . in october 2013 , the company 2019s board of directors authorized an additional $ 5.0 billion share repurchase program. .

2,013

41

V

Visa Inc.

Financials

Transaction & Payment Processing Services

San Francisco, California

2009-12-21

1,403,161

1958

null

finqa298

what portion of the purchasing price is dedicated to net tangible assets?

79.2%

divide(24800, 31300)

hologic , inc . notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) the acquisition also provided for a one-year earn out of eur 1700 ( approximately $ 2000 usd ) which was payable in cash if aeg calendar year 2006 earnings , as defined , exceeded a pre-determined amount . aeg 2019s 2006 earnings did not exceed such pre-determined amounts and no payment was made . the components and allocation of the purchase price , consists of the following approximate amounts: .

the company implemented a plan to restructure certain of aeg 2019s historical activities . the company originally recorded a liability of approximately $ 2100 in accordance with eitf issue no . 95-3 , recognition of liabilities in connection with a purchase business combination , related to the termination of certain employees under this plan . upon completion of the plan in fiscal 2007 the company reduced this liability by approximately $ 241 with a corresponding reduction in goodwill . all amounts have been paid as of september 29 , 2007 . as part of the aeg acquisition the company acquired a minority interest in the equity securities of a private german company . the company estimated the fair value of these securities to be approximately $ 1400 in its original purchase price allocation . during the year ended september 29 , 2007 , the company sold these securities for proceeds of approximately $ 2150 . the difference of approximately $ 750 between the preliminary fair value estimate and proceeds upon sale was recorded as a reduction of goodwill . the final purchase price allocations were completed within one year of the acquisition and the adjustments did not have a material impact on the company 2019s financial position or results of operations . there have been no other material changes to the purchase price allocation . 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 . the fair value of these intangible assets was determined through the application of the income approach . customer relationship represents aeg 2019s high dependency on a small number of large accounts . aeg markets its products through distributors as well as directly to its own customers . trade name represents aeg 2019s product names that the company intends to continue to use . developed technology and know how represents currently marketable purchased products that the company continues to sell as well as utilize to enhance and incorporate into the company 2019s existing products . the intangible assets are expected to be amortized on a straight-line basis over the expected useful lives as the anticipated undiscounted cash flows are relatively consistent over the expected useful lives of the intangible assets . the estimated $ 600 of purchase price allocated to in-process research and development projects related to aeg 2019s organic photoconductor coating and selenium product lines . the deferred income tax liability relates to the tax effect of acquired identifiable intangible assets , and fair value adjustments to acquired inventory , land , building and related improvements as such amounts are not deductible for tax purposes . the company had an existing relationship with aeg as a supplier of inventory items . the supply agreement was entered into in prior years at arm 2019s length terms and conditions . no minimum purchase requirements existed and the pricing was consistent with other vendor agreements. .

| | net tangible assets acquired as of may 2 2006 | $ 24800 | |---:|:------------------------------------------------|:---------------| | 0 | in-process research and development | 600 | | 1 | developed technology and know-how | 1900 | | 2 | customer relationship | 800 | | 3 | trade name | 400 | | 4 | deferred income taxes | -3000 ( 3000 ) | | 5 | goodwill | 5800 | | 6 | final purchase price | $ 31300 |

hologic , inc . notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) the acquisition also provided for a one-year earn out of eur 1700 ( approximately $ 2000 usd ) which was payable in cash if aeg calendar year 2006 earnings , as defined , exceeded a pre-determined amount . aeg 2019s 2006 earnings did not exceed such pre-determined amounts and no payment was made . the components and allocation of the purchase price , consists of the following approximate amounts: ._| | net tangible assets acquired as of may 2 2006 | $ 24800 | |---:|:------------------------------------------------|:---------------| | 0 | in-process research and development | 600 | | 1 | developed technology and know-how | 1900 | | 2 | customer relationship | 800 | | 3 | trade name | 400 | | 4 | deferred income taxes | -3000 ( 3000 ) | | 5 | goodwill | 5800 | | 6 | final purchase price | $ 31300 |_the company implemented a plan to restructure certain of aeg 2019s historical activities . the company originally recorded a liability of approximately $ 2100 in accordance with eitf issue no . 95-3 , recognition of liabilities in connection with a purchase business combination , related to the termination of certain employees under this plan . upon completion of the plan in fiscal 2007 the company reduced this liability by approximately $ 241 with a corresponding reduction in goodwill . all amounts have been paid as of september 29 , 2007 . as part of the aeg acquisition the company acquired a minority interest in the equity securities of a private german company . the company estimated the fair value of these securities to be approximately $ 1400 in its original purchase price allocation . during the year ended september 29 , 2007 , the company sold these securities for proceeds of approximately $ 2150 . the difference of approximately $ 750 between the preliminary fair value estimate and proceeds upon sale was recorded as a reduction of goodwill . the final purchase price allocations were completed within one year of the acquisition and the adjustments did not have a material impact on the company 2019s financial position or results of operations . there have been no other material changes to the purchase price allocation . 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 . the fair value of these intangible assets was determined through the application of the income approach . customer relationship represents aeg 2019s high dependency on a small number of large accounts . aeg markets its products through distributors as well as directly to its own customers . trade name represents aeg 2019s product names that the company intends to continue to use . developed technology and know how represents currently marketable purchased products that the company continues to sell as well as utilize to enhance and incorporate into the company 2019s existing products . the intangible assets are expected to be amortized on a straight-line basis over the expected useful lives as the anticipated undiscounted cash flows are relatively consistent over the expected useful lives of the intangible assets . the estimated $ 600 of purchase price allocated to in-process research and development projects related to aeg 2019s organic photoconductor coating and selenium product lines . the deferred income tax liability relates to the tax effect of acquired identifiable intangible assets , and fair value adjustments to acquired inventory , land , building and related improvements as such amounts are not deductible for tax purposes . the company had an existing relationship with aeg as a supplier of inventory items . the supply agreement was entered into in prior years at arm 2019s length terms and conditions . no minimum purchase requirements existed and the pricing was consistent with other vendor agreements. .

2,008

142

HOLX

Hologic

Health Care

Health Care Equipment

Marlborough, Massachusetts

2016-03-30

859,737

1985

what portion of the purchasing price is dedicated to net tangible assets?

79.2%

divide(24800, 31300)

hologic , inc . notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) the acquisition also provided for a one-year earn out of eur 1700 ( approximately $ 2000 usd ) which was payable in cash if aeg calendar year 2006 earnings , as defined , exceeded a pre-determined amount . aeg 2019s 2006 earnings did not exceed such pre-determined amounts and no payment was made . the components and allocation of the purchase price , consists of the following approximate amounts: .

the company implemented a plan to restructure certain of aeg 2019s historical activities . the company originally recorded a liability of approximately $ 2100 in accordance with eitf issue no . 95-3 , recognition of liabilities in connection with a purchase business combination , related to the termination of certain employees under this plan . upon completion of the plan in fiscal 2007 the company reduced this liability by approximately $ 241 with a corresponding reduction in goodwill . all amounts have been paid as of september 29 , 2007 . as part of the aeg acquisition the company acquired a minority interest in the equity securities of a private german company . the company estimated the fair value of these securities to be approximately $ 1400 in its original purchase price allocation . during the year ended september 29 , 2007 , the company sold these securities for proceeds of approximately $ 2150 . the difference of approximately $ 750 between the preliminary fair value estimate and proceeds upon sale was recorded as a reduction of goodwill . the final purchase price allocations were completed within one year of the acquisition and the adjustments did not have a material impact on the company 2019s financial position or results of operations . there have been no other material changes to the purchase price allocation . 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 . the fair value of these intangible assets was determined through the application of the income approach . customer relationship represents aeg 2019s high dependency on a small number of large accounts . aeg markets its products through distributors as well as directly to its own customers . trade name represents aeg 2019s product names that the company intends to continue to use . developed technology and know how represents currently marketable purchased products that the company continues to sell as well as utilize to enhance and incorporate into the company 2019s existing products . the intangible assets are expected to be amortized on a straight-line basis over the expected useful lives as the anticipated undiscounted cash flows are relatively consistent over the expected useful lives of the intangible assets . the estimated $ 600 of purchase price allocated to in-process research and development projects related to aeg 2019s organic photoconductor coating and selenium product lines . the deferred income tax liability relates to the tax effect of acquired identifiable intangible assets , and fair value adjustments to acquired inventory , land , building and related improvements as such amounts are not deductible for tax purposes . the company had an existing relationship with aeg as a supplier of inventory items . the supply agreement was entered into in prior years at arm 2019s length terms and conditions . no minimum purchase requirements existed and the pricing was consistent with other vendor agreements. .

| | net tangible assets acquired as of may 2 2006 | $ 24800 | |---:|:------------------------------------------------|:---------------| | 0 | in-process research and development | 600 | | 1 | developed technology and know-how | 1900 | | 2 | customer relationship | 800 | | 3 | trade name | 400 | | 4 | deferred income taxes | -3000 ( 3000 ) | | 5 | goodwill | 5800 | | 6 | final purchase price | $ 31300 |

hologic , inc . notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) the acquisition also provided for a one-year earn out of eur 1700 ( approximately $ 2000 usd ) which was payable in cash if aeg calendar year 2006 earnings , as defined , exceeded a pre-determined amount . aeg 2019s 2006 earnings did not exceed such pre-determined amounts and no payment was made . the components and allocation of the purchase price , consists of the following approximate amounts: ._| | net tangible assets acquired as of may 2 2006 | $ 24800 | |---:|:------------------------------------------------|:---------------| | 0 | in-process research and development | 600 | | 1 | developed technology and know-how | 1900 | | 2 | customer relationship | 800 | | 3 | trade name | 400 | | 4 | deferred income taxes | -3000 ( 3000 ) | | 5 | goodwill | 5800 | | 6 | final purchase price | $ 31300 |_the company implemented a plan to restructure certain of aeg 2019s historical activities . the company originally recorded a liability of approximately $ 2100 in accordance with eitf issue no . 95-3 , recognition of liabilities in connection with a purchase business combination , related to the termination of certain employees under this plan . upon completion of the plan in fiscal 2007 the company reduced this liability by approximately $ 241 with a corresponding reduction in goodwill . all amounts have been paid as of september 29 , 2007 . as part of the aeg acquisition the company acquired a minority interest in the equity securities of a private german company . the company estimated the fair value of these securities to be approximately $ 1400 in its original purchase price allocation . during the year ended september 29 , 2007 , the company sold these securities for proceeds of approximately $ 2150 . the difference of approximately $ 750 between the preliminary fair value estimate and proceeds upon sale was recorded as a reduction of goodwill . the final purchase price allocations were completed within one year of the acquisition and the adjustments did not have a material impact on the company 2019s financial position or results of operations . there have been no other material changes to the purchase price allocation . 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 . the fair value of these intangible assets was determined through the application of the income approach . customer relationship represents aeg 2019s high dependency on a small number of large accounts . aeg markets its products through distributors as well as directly to its own customers . trade name represents aeg 2019s product names that the company intends to continue to use . developed technology and know how represents currently marketable purchased products that the company continues to sell as well as utilize to enhance and incorporate into the company 2019s existing products . the intangible assets are expected to be amortized on a straight-line basis over the expected useful lives as the anticipated undiscounted cash flows are relatively consistent over the expected useful lives of the intangible assets . the estimated $ 600 of purchase price allocated to in-process research and development projects related to aeg 2019s organic photoconductor coating and selenium product lines . the deferred income tax liability relates to the tax effect of acquired identifiable intangible assets , and fair value adjustments to acquired inventory , land , building and related improvements as such amounts are not deductible for tax purposes . the company had an existing relationship with aeg as a supplier of inventory items . the supply agreement was entered into in prior years at arm 2019s length terms and conditions . no minimum purchase requirements existed and the pricing was consistent with other vendor agreements. .

2,008

142

HOLX

Hologic

Health Care

Health Care Equipment

Marlborough, Massachusetts

2016-03-30

859,737

1985

null

finqa299

without the commercial banking segment , what would 2005 operating income have been reduced to , in us$ m?

9514

subtract(10521, 1007)

segment results 2013 operating basis ( a ) ( b ) ( table continued from previous page ) year ended december 31 , operating earnings return on common equity 2013 goodwill ( c ) .

jpmorgan chase & co . / 2005 annual report 35 and are retained in corporate . these retained expenses include parent company costs that would not be incurred if the segments were stand-alone businesses ; adjustments to align certain corporate staff , technology and operations allocations with market prices ; and other one-time items not aligned with the business segments . during 2005 , the firm refined cost allocation methodologies related to certain corporate functions , technology and operations expenses in order to improve transparency , consistency and accountability with regard to costs allocated across business segments . prior periods have not been revised to reflect these new cost allocation methodologies . capital allocation each business segment is allocated capital by taking into consideration stand- alone peer comparisons , economic risk measures and regulatory capital requirements . the amount of capital assigned to each business is referred to as equity . at the time of the merger , goodwill , as well as the associated capital , was allocated solely to corporate . effective january 2006 , the firm expects to refine its methodology for allocating capital to the business segments to include any goodwill associated with line of business-directed acquisitions since the merger . u.s . gaap requires the allocation of goodwill to the business segments for impairment testing ( see critical accounting estimates used by the firm and note 15 on pages 81 2013 83 and 114 2013116 , respectively , of this annual report ) . see the capital management section on page 56 of this annual report for a discussion of the equity framework . credit reimbursement tss reimburses the ib for credit portfolio exposures the ib manages on behalf of clients the segments share . at the time of the merger , the reimbursement methodology was revised to be based upon pre-tax earnings , net of the cost of capital related to those exposures . prior to the merger , the credit reimbursement was based upon pre-tax earnings , plus the allocated capital associated with the shared clients . tax-equivalent adjustments segment and firm results reflect revenues on a tax-equivalent basis for segment reporting purposes . refer to explanation and reconciliation of the firm 2019s non-gaap financial measures on page 31 of this annual report for additional details . description of business segment reporting methodology results of the business segments are intended to reflect each segment as if it were essentially a stand-alone business . the management reporting process that derives these results allocates income and expense using market-based methodologies . effective with the merger on july 1 , 2004 , several of the allocation methodologies were revised , as noted below . as prior periods have not been revised to reflect these new methodologies , they are not comparable to the presentation of periods beginning with the third quarter of 2004 . further , the firm continues to assess the assumptions , methodologies and reporting reclassifications used for segment reporting , and further refinements may be implemented in future periods . revenue sharing when business segments join efforts to sell products and services to the firm 2019s clients , the participating business segments agree to share revenues from those transactions . these revenue-sharing agreements were revised on the merger date to provide consistency across the lines of business . funds transfer pricing funds transfer pricing ( 201cftp 201d ) is used to allocate interest income and expense to each business and transfer the primary interest rate risk exposures to corporate . the allocation process is unique to each business and considers the interest rate risk , liquidity risk and regulatory requirements of its stand- alone peers . business segments may retain certain interest rate exposures , subject to management approval , that would be expected in the normal operation of a similar peer business . in the third quarter of 2004 , ftp was revised to conform the policies of the combined firms . expense allocation where business segments use services provided by support units within the firm , the costs of those support units are allocated to the business segments . those expenses are allocated based upon their actual cost , or the lower of actual cost or market cost , as well as upon usage of the services provided . effective with the third quarter of 2004 , the cost allocation methodologies of the heritage firms were aligned to provide consistency across the business segments . in addition , expenses related to certain corporate functions , technology and operations ceased to be allocated to the business segments .

| | year ended december 31 , ( in millions except ratios ) | year ended december 31 , 2005 | year ended december 31 , 2004 | year ended december 31 , change | 2005 | 2004 | |---:|:---------------------------------------------------------|:--------------------------------|:--------------------------------|:----------------------------------|:-------------|:-------------| | 0 | investment bank | $ 3658 | $ 2948 | 24% ( 24 % ) | 18% ( 18 % ) | 17% ( 17 % ) | | 1 | retail financial services | 3427 | 2199 | 56 | 26 | 24 | | 2 | card services | 1907 | 1274 | 50 | 16 | 17 | | 3 | commercial banking | 1007 | 608 | 66 | 30 | 29 | | 4 | treasury & securities services | 1037 | 440 | 136 | 55 | 17 | | 5 | asset & wealth management | 1216 | 681 | 79 | 51 | 17 | | 6 | corporate | -1731 ( 1731 ) | 61 | nm | nm | nm | | 7 | total | $ 10521 | $ 8211 | 28% ( 28 % ) | 17% ( 17 % ) | 16% ( 16 % ) |

segment results 2013 operating basis ( a ) ( b ) ( table continued from previous page ) year ended december 31 , operating earnings return on common equity 2013 goodwill ( c ) ._| | year ended december 31 , ( in millions except ratios ) | year ended december 31 , 2005 | year ended december 31 , 2004 | year ended december 31 , change | 2005 | 2004 | |---:|:---------------------------------------------------------|:--------------------------------|:--------------------------------|:----------------------------------|:-------------|:-------------| | 0 | investment bank | $ 3658 | $ 2948 | 24% ( 24 % ) | 18% ( 18 % ) | 17% ( 17 % ) | | 1 | retail financial services | 3427 | 2199 | 56 | 26 | 24 | | 2 | card services | 1907 | 1274 | 50 | 16 | 17 | | 3 | commercial banking | 1007 | 608 | 66 | 30 | 29 | | 4 | treasury & securities services | 1037 | 440 | 136 | 55 | 17 | | 5 | asset & wealth management | 1216 | 681 | 79 | 51 | 17 | | 6 | corporate | -1731 ( 1731 ) | 61 | nm | nm | nm | | 7 | total | $ 10521 | $ 8211 | 28% ( 28 % ) | 17% ( 17 % ) | 16% ( 16 % ) |_jpmorgan chase & co . / 2005 annual report 35 and are retained in corporate . these retained expenses include parent company costs that would not be incurred if the segments were stand-alone businesses ; adjustments to align certain corporate staff , technology and operations allocations with market prices ; and other one-time items not aligned with the business segments . during 2005 , the firm refined cost allocation methodologies related to certain corporate functions , technology and operations expenses in order to improve transparency , consistency and accountability with regard to costs allocated across business segments . prior periods have not been revised to reflect these new cost allocation methodologies . capital allocation each business segment is allocated capital by taking into consideration stand- alone peer comparisons , economic risk measures and regulatory capital requirements . the amount of capital assigned to each business is referred to as equity . at the time of the merger , goodwill , as well as the associated capital , was allocated solely to corporate . effective january 2006 , the firm expects to refine its methodology for allocating capital to the business segments to include any goodwill associated with line of business-directed acquisitions since the merger . u.s . gaap requires the allocation of goodwill to the business segments for impairment testing ( see critical accounting estimates used by the firm and note 15 on pages 81 2013 83 and 114 2013116 , respectively , of this annual report ) . see the capital management section on page 56 of this annual report for a discussion of the equity framework . credit reimbursement tss reimburses the ib for credit portfolio exposures the ib manages on behalf of clients the segments share . at the time of the merger , the reimbursement methodology was revised to be based upon pre-tax earnings , net of the cost of capital related to those exposures . prior to the merger , the credit reimbursement was based upon pre-tax earnings , plus the allocated capital associated with the shared clients . tax-equivalent adjustments segment and firm results reflect revenues on a tax-equivalent basis for segment reporting purposes . refer to explanation and reconciliation of the firm 2019s non-gaap financial measures on page 31 of this annual report for additional details . description of business segment reporting methodology results of the business segments are intended to reflect each segment as if it were essentially a stand-alone business . the management reporting process that derives these results allocates income and expense using market-based methodologies . effective with the merger on july 1 , 2004 , several of the allocation methodologies were revised , as noted below . as prior periods have not been revised to reflect these new methodologies , they are not comparable to the presentation of periods beginning with the third quarter of 2004 . further , the firm continues to assess the assumptions , methodologies and reporting reclassifications used for segment reporting , and further refinements may be implemented in future periods . revenue sharing when business segments join efforts to sell products and services to the firm 2019s clients , the participating business segments agree to share revenues from those transactions . these revenue-sharing agreements were revised on the merger date to provide consistency across the lines of business . funds transfer pricing funds transfer pricing ( 201cftp 201d ) is used to allocate interest income and expense to each business and transfer the primary interest rate risk exposures to corporate . the allocation process is unique to each business and considers the interest rate risk , liquidity risk and regulatory requirements of its stand- alone peers . business segments may retain certain interest rate exposures , subject to management approval , that would be expected in the normal operation of a similar peer business . in the third quarter of 2004 , ftp was revised to conform the policies of the combined firms . expense allocation where business segments use services provided by support units within the firm , the costs of those support units are allocated to the business segments . those expenses are allocated based upon their actual cost , or the lower of actual cost or market cost , as well as upon usage of the services provided . effective with the third quarter of 2004 , the cost allocation methodologies of the heritage firms were aligned to provide consistency across the business segments . in addition , expenses related to certain corporate functions , technology and operations ceased to be allocated to the business segments .

2,005

37

JPM

JPMorgan Chase

Financials

Diversified Banks

New York City, New York

1975-06-30

19,617

2000 (1799 / 1871)

without the commercial banking segment , what would 2005 operating income have been reduced to , in us$ m?

9514

subtract(10521, 1007)

segment results 2013 operating basis ( a ) ( b ) ( table continued from previous page ) year ended december 31 , operating earnings return on common equity 2013 goodwill ( c ) .

jpmorgan chase & co . / 2005 annual report 35 and are retained in corporate . these retained expenses include parent company costs that would not be incurred if the segments were stand-alone businesses ; adjustments to align certain corporate staff , technology and operations allocations with market prices ; and other one-time items not aligned with the business segments . during 2005 , the firm refined cost allocation methodologies related to certain corporate functions , technology and operations expenses in order to improve transparency , consistency and accountability with regard to costs allocated across business segments . prior periods have not been revised to reflect these new cost allocation methodologies . capital allocation each business segment is allocated capital by taking into consideration stand- alone peer comparisons , economic risk measures and regulatory capital requirements . the amount of capital assigned to each business is referred to as equity . at the time of the merger , goodwill , as well as the associated capital , was allocated solely to corporate . effective january 2006 , the firm expects to refine its methodology for allocating capital to the business segments to include any goodwill associated with line of business-directed acquisitions since the merger . u.s . gaap requires the allocation of goodwill to the business segments for impairment testing ( see critical accounting estimates used by the firm and note 15 on pages 81 2013 83 and 114 2013116 , respectively , of this annual report ) . see the capital management section on page 56 of this annual report for a discussion of the equity framework . credit reimbursement tss reimburses the ib for credit portfolio exposures the ib manages on behalf of clients the segments share . at the time of the merger , the reimbursement methodology was revised to be based upon pre-tax earnings , net of the cost of capital related to those exposures . prior to the merger , the credit reimbursement was based upon pre-tax earnings , plus the allocated capital associated with the shared clients . tax-equivalent adjustments segment and firm results reflect revenues on a tax-equivalent basis for segment reporting purposes . refer to explanation and reconciliation of the firm 2019s non-gaap financial measures on page 31 of this annual report for additional details . description of business segment reporting methodology results of the business segments are intended to reflect each segment as if it were essentially a stand-alone business . the management reporting process that derives these results allocates income and expense using market-based methodologies . effective with the merger on july 1 , 2004 , several of the allocation methodologies were revised , as noted below . as prior periods have not been revised to reflect these new methodologies , they are not comparable to the presentation of periods beginning with the third quarter of 2004 . further , the firm continues to assess the assumptions , methodologies and reporting reclassifications used for segment reporting , and further refinements may be implemented in future periods . revenue sharing when business segments join efforts to sell products and services to the firm 2019s clients , the participating business segments agree to share revenues from those transactions . these revenue-sharing agreements were revised on the merger date to provide consistency across the lines of business . funds transfer pricing funds transfer pricing ( 201cftp 201d ) is used to allocate interest income and expense to each business and transfer the primary interest rate risk exposures to corporate . the allocation process is unique to each business and considers the interest rate risk , liquidity risk and regulatory requirements of its stand- alone peers . business segments may retain certain interest rate exposures , subject to management approval , that would be expected in the normal operation of a similar peer business . in the third quarter of 2004 , ftp was revised to conform the policies of the combined firms . expense allocation where business segments use services provided by support units within the firm , the costs of those support units are allocated to the business segments . those expenses are allocated based upon their actual cost , or the lower of actual cost or market cost , as well as upon usage of the services provided . effective with the third quarter of 2004 , the cost allocation methodologies of the heritage firms were aligned to provide consistency across the business segments . in addition , expenses related to certain corporate functions , technology and operations ceased to be allocated to the business segments .

| | year ended december 31 , ( in millions except ratios ) | year ended december 31 , 2005 | year ended december 31 , 2004 | year ended december 31 , change | 2005 | 2004 | |---:|:---------------------------------------------------------|:--------------------------------|:--------------------------------|:----------------------------------|:-------------|:-------------| | 0 | investment bank | $ 3658 | $ 2948 | 24% ( 24 % ) | 18% ( 18 % ) | 17% ( 17 % ) | | 1 | retail financial services | 3427 | 2199 | 56 | 26 | 24 | | 2 | card services | 1907 | 1274 | 50 | 16 | 17 | | 3 | commercial banking | 1007 | 608 | 66 | 30 | 29 | | 4 | treasury & securities services | 1037 | 440 | 136 | 55 | 17 | | 5 | asset & wealth management | 1216 | 681 | 79 | 51 | 17 | | 6 | corporate | -1731 ( 1731 ) | 61 | nm | nm | nm | | 7 | total | $ 10521 | $ 8211 | 28% ( 28 % ) | 17% ( 17 % ) | 16% ( 16 % ) |

segment results 2013 operating basis ( a ) ( b ) ( table continued from previous page ) year ended december 31 , operating earnings return on common equity 2013 goodwill ( c ) ._| | year ended december 31 , ( in millions except ratios ) | year ended december 31 , 2005 | year ended december 31 , 2004 | year ended december 31 , change | 2005 | 2004 | |---:|:---------------------------------------------------------|:--------------------------------|:--------------------------------|:----------------------------------|:-------------|:-------------| | 0 | investment bank | $ 3658 | $ 2948 | 24% ( 24 % ) | 18% ( 18 % ) | 17% ( 17 % ) | | 1 | retail financial services | 3427 | 2199 | 56 | 26 | 24 | | 2 | card services | 1907 | 1274 | 50 | 16 | 17 | | 3 | commercial banking | 1007 | 608 | 66 | 30 | 29 | | 4 | treasury & securities services | 1037 | 440 | 136 | 55 | 17 | | 5 | asset & wealth management | 1216 | 681 | 79 | 51 | 17 | | 6 | corporate | -1731 ( 1731 ) | 61 | nm | nm | nm | | 7 | total | $ 10521 | $ 8211 | 28% ( 28 % ) | 17% ( 17 % ) | 16% ( 16 % ) |_jpmorgan chase & co . / 2005 annual report 35 and are retained in corporate . these retained expenses include parent company costs that would not be incurred if the segments were stand-alone businesses ; adjustments to align certain corporate staff , technology and operations allocations with market prices ; and other one-time items not aligned with the business segments . during 2005 , the firm refined cost allocation methodologies related to certain corporate functions , technology and operations expenses in order to improve transparency , consistency and accountability with regard to costs allocated across business segments . prior periods have not been revised to reflect these new cost allocation methodologies . capital allocation each business segment is allocated capital by taking into consideration stand- alone peer comparisons , economic risk measures and regulatory capital requirements . the amount of capital assigned to each business is referred to as equity . at the time of the merger , goodwill , as well as the associated capital , was allocated solely to corporate . effective january 2006 , the firm expects to refine its methodology for allocating capital to the business segments to include any goodwill associated with line of business-directed acquisitions since the merger . u.s . gaap requires the allocation of goodwill to the business segments for impairment testing ( see critical accounting estimates used by the firm and note 15 on pages 81 2013 83 and 114 2013116 , respectively , of this annual report ) . see the capital management section on page 56 of this annual report for a discussion of the equity framework . credit reimbursement tss reimburses the ib for credit portfolio exposures the ib manages on behalf of clients the segments share . at the time of the merger , the reimbursement methodology was revised to be based upon pre-tax earnings , net of the cost of capital related to those exposures . prior to the merger , the credit reimbursement was based upon pre-tax earnings , plus the allocated capital associated with the shared clients . tax-equivalent adjustments segment and firm results reflect revenues on a tax-equivalent basis for segment reporting purposes . refer to explanation and reconciliation of the firm 2019s non-gaap financial measures on page 31 of this annual report for additional details . description of business segment reporting methodology results of the business segments are intended to reflect each segment as if it were essentially a stand-alone business . the management reporting process that derives these results allocates income and expense using market-based methodologies . effective with the merger on july 1 , 2004 , several of the allocation methodologies were revised , as noted below . as prior periods have not been revised to reflect these new methodologies , they are not comparable to the presentation of periods beginning with the third quarter of 2004 . further , the firm continues to assess the assumptions , methodologies and reporting reclassifications used for segment reporting , and further refinements may be implemented in future periods . revenue sharing when business segments join efforts to sell products and services to the firm 2019s clients , the participating business segments agree to share revenues from those transactions . these revenue-sharing agreements were revised on the merger date to provide consistency across the lines of business . funds transfer pricing funds transfer pricing ( 201cftp 201d ) is used to allocate interest income and expense to each business and transfer the primary interest rate risk exposures to corporate . the allocation process is unique to each business and considers the interest rate risk , liquidity risk and regulatory requirements of its stand- alone peers . business segments may retain certain interest rate exposures , subject to management approval , that would be expected in the normal operation of a similar peer business . in the third quarter of 2004 , ftp was revised to conform the policies of the combined firms . expense allocation where business segments use services provided by support units within the firm , the costs of those support units are allocated to the business segments . those expenses are allocated based upon their actual cost , or the lower of actual cost or market cost , as well as upon usage of the services provided . effective with the third quarter of 2004 , the cost allocation methodologies of the heritage firms were aligned to provide consistency across the business segments . in addition , expenses related to certain corporate functions , technology and operations ceased to be allocated to the business segments .

2,005

37

JPM

JPMorgan Chase

Financials

Diversified Banks

New York City, New York

1975-06-30

19,617

2000 (1799 / 1871)

null