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As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | 15. commitments and contingencies in the ordinary course of business, the company is involved in lawsuits, arbitrations and other formal and informal dispute resolution procedures, the outcomes of which will determine the company 2019s rights and obligations under insurance and reinsurance agreements. in some disputes, the company seeks to enforce its rights under an agreement or to collect funds owing to it. in other matters, the company is resisting attempts by others to collect funds or enforce alleged rights. these disputes arise from time to time and are ultimately resolved through both informal and formal means, including negotiated resolution, arbitration and litigation. in all such matters, the company believes that its positions are legally and commercially reasonable. the company considers the statuses of these proceedings when determining its reserves for unpaid loss and loss adjustment expenses. aside from litigation and arbitrations related to these insurance and reinsurance agreements, the company is not a party to any other material litigation or arbitration. the company has entered into separate annuity agreements with the prudential insurance of america (201cthe prudential 201d) and an additional unaffiliated life insurance company in which the company has either purchased annuity contracts or become the assignee of annuity proceeds that are meant to settle claim payment obligations in the future. in both instances, the company would become contingently liable if either the prudential or the unaffiliated life insurance company were unable to make payments related to the respective annuity contract. the table below presents the estimated cost to replace all such annuities for which the company was contingently liable for the periods indicated:.
(dollars in thousands) | at december 31, 2017 | at december 31, 2016
the prudential insurance company of america | $144618 | $146507
unaffiliated life insurance company | 34444 | 33860
16. share-based compensation plans the company has a 2010 stock incentive plan (201c2010 employee plan 201d), a 2009 non-employee director stock option and restricted stock plan (201c2009 director plan 201d) and a 2003 non-employee director equity compensation plan (201c2003 director plan 201d). under the 2010 employee plan, 4000000 common shares have been authorized to be granted as non- qualified share options, incentive share options, share appreciation rights, restricted share awards or performance share unit awards to officers and key employees of the company. at december 31, 2017, there were 2553473 remaining shares available to be granted under the 2010 employee plan. the 2010 employee plan replaced a 2002 employee plan, which replaced a 1995 employee plan; therefore, no further awards will be granted under the 2002 employee plan or the 1995 employee plan. through december 31, 2017, only non-qualified share options, restricted share awards and performance share unit awards had been granted under the employee plans. under the 2009 director plan, 37439 common shares have been authorized to be granted as share options or restricted share awards to non-employee directors of the company. at december 31, 2017, there were 34957 remaining shares available to be granted under the 2009 director plan. the 2009 director plan replaced a 1995 director plan, which expired. under the 2003 director plan, 500000 common shares have been authorized to be granted as share options or share awards to non-employee directors of the company. at december 31, 2017 there were 346714 remaining shares available to be granted under the 2003 director plan..
what is the balance in the unaffiliated life insurance company in 2017? 34444.0
what about in 2016? 33860.0
what is the net change? | 584.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | performance graph the graph below compares the cumulative total shareholder return on pmi's common stock with the cumulative total return for the same period of pmi's peer group and the s&p 500 index. the graph assumes the investment of $100 as of december 31, 2013, in pmi common stock (at prices quoted on the new york stock exchange) and each of the indices as of the market close and reinvestment of dividends on a quarterly basis. date pmi pmi peer group (1) s&p 500 index.
date | pmi | pmi peer group (1) | s&p 500 index
december 31 2013 | $100.00 | $100.00 | $100.00
december 31 2014 | $97.90 | $107.80 | $113.70
december 31 2015 | $111.00 | $116.80 | $115.30
december 31 2016 | $120.50 | $118.40 | $129.00
december 31 2017 | $144.50 | $140.50 | $157.20
december 31 2018 | $96.50 | $127.70 | $150.30
(1) the pmi peer group presented in this graph is the same as that used in the prior year. the pmi peer group was established based on a review of four characteristics: global presence; a focus on consumer products; and net revenues and a market capitalization of a similar size to those of pmi. the review also considered the primary international tobacco companies. as a result of this review, the following companies constitute the pmi peer group: altria group, inc., anheuser-busch inbev sa/nv, british american tobacco p.l.c., the coca-cola company, colgate-palmolive co., diageo plc, heineken n.v., imperial brands plc, japan tobacco inc., johnson & johnson, kimberly-clark corporation, the kraft-heinz company, mcdonald's corp., mondel z international, inc., nestl e9 s.a., pepsico, inc., the procter & gamble company, roche holding ag, and unilever nv and plc. note: figures are rounded to the nearest $0.10..
what was the value of pmi common stock in 2018? 96.5
what is that less 100? -3.5
what is that divided by 100? | -0.035 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | during 2015, $82 million of provision recapture was recorded for purchased impaired loans compared to $91 million of provision recapture during 2014. charge-offs (which were specifically for commercial loans greater than a defined threshold) during 2015 were $12 million compared to $42 million during 2014. at december 31, 2015 and december 31, 2014, the alll on total purchased impaired loans was $.3 billion and $.9 billion, respectively. the decline in alll was primarily due to the change in our derecognition policy. for purchased impaired loan pools where an allowance has been recognized, subsequent increases in the net present value of cash flows will result in a provision recapture of any previously recorded alll to the extent applicable, and/or a reclassification from non-accretable difference to accretable yield, which will be recognized prospectively. individual loan transactions where final dispositions have occurred (as noted above) result in removal of the loans from their applicable pools for cash flow estimation purposes. the cash flow re- estimation process is completed quarterly to evaluate the appropriateness of the alll associated with the purchased impaired loans. activity for the accretable yield during 2015 and 2014 follows: table 66: purchased impaired loans 2013 accretable yield.
in millions | 2015 | 2014
january 1 | $1558 | $2055
accretion (including excess cash recoveries) | -466 (466) | -587 (587)
net reclassifications to accretable from non-accretable | 226 | 208
disposals | -68 (68) | -118 (118)
december 31 | $1250 | $1558
note 5 allowances for loan and lease losses and unfunded loan commitments and letters of credit allowance for loan and lease losses we maintain the alll at levels that we believe to be appropriate to absorb estimated probable credit losses incurred in the portfolios as of the balance sheet date. we use the two main portfolio segments 2013 commercial lending and consumer lending 2013 and develop and document the alll under separate methodologies for each of these segments as discussed in note 1 accounting policies. a rollforward of the alll and associated loan data follows. the pnc financial services group, inc. 2013 form 10-k 141.
what is the sum of the provision recapture for purchased impaired loans in 2014 and 2015? | 173.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | middleton's reported cigars shipment volume for 2012 decreased 0.7% (0.7%) due primarily to changes in trade inventories, partially offset by volume growth as a result of retail share gains. in the cigarette category, marlboro's 2012 retail share performance continued to benefit from the brand-building initiatives supporting marlboro's new architecture. marlboro's retail share for 2012 increased 0.6 share points versus 2011 to 42.6% (42.6%). in january 2013, pm usa expanded distribution of marlboro southern cut nationally. marlboro southern cut is part of the marlboro gold family. pm usa's 2012 retail share increased 0.8 share points versus 2011, reflecting retail share gains by marlboro and by l&m in discount. these gains were partially offset by share losses on other portfolio brands. in the machine-made large cigars category, black & mild's retail share for 2012 increased 0.5 share points. the brand benefited from new untipped cigarillo varieties that were introduced in 2011, black & mild seasonal offerings and the 2012 third-quarter introduction of black & mild jazz untipped cigarillos into select geographies. in december 2012, middleton announced plans to launch nationally black & mild jazz cigars in both plastic tip and wood tip in the first quarter of 2013. the following discussion compares smokeable products segment results for the year ended december 31, 2011 with the year ended december 31, 2010. net revenues, which include excise taxes billed to customers, decreased $221 million (1.0% (1.0%)) due to lower shipment volume ($1051 million), partially offset by higher net pricing ($830 million), which includes higher promotional investments. operating companies income increased $119 million (2.1% (2.1%)), due primarily to higher net pricing ($831 million), which includes higher promotional investments, marketing, administration, and research savings reflecting cost reduction initiatives ($198 million) and 2010 implementation costs related to the closure of the cabarrus, north carolina manufacturing facility ($75 million), partially offset by lower volume ($527 million), higher asset impairment and exit costs due primarily to the 2011 cost reduction program ($158 million), higher per unit settlement charges ($120 million), higher charges related to tobacco and health judgments ($87 million) and higher fda user fees ($73 million). for 2011, total smokeable products shipment volume decreased 4.0% (4.0%) versus 2010. pm usa's reported domestic cigarettes shipment volume declined 4.0% (4.0%) versus 2010 due primarily to retail share losses and one less shipping day, partially offset by changes in trade inventories. after adjusting for changes in trade inventories and one less shipping day, pm usa's 2011 domestic cigarette shipment volume was estimated to be down approximately 4% (4%) versus 2010. pm usa believes that total cigarette category volume for 2011 decreased approximately 3.5% (3.5%) versus 2010, when adjusted primarily for changes in trade inventories and one less shipping day. pm usa's total premium brands (marlboro and other premium brands) shipment volume decreased 4.3% (4.3%). marlboro's shipment volume decreased 3.8% (3.8%) versus 2010. in the discount brands, pm usa's shipment volume decreased 0.9% (0.9%). pm usa's shipments of premium cigarettes accounted for 93.7% (93.7%) of its reported domestic cigarettes shipment volume for 2011, down from 93.9% (93.9%) in 2010. middleton's 2011 reported cigars shipment volume was unchanged versus 2010. for 2011, pm usa's retail share of the cigarette category declined 0.8 share points to 49.0% (49.0%) due primarily to retail share losses on marlboro. marlboro's 2011 retail share decreased 0.6 share points. in 2010, marlboro delivered record full-year retail share results that were achieved at lower margin levels. middleton retained a leading share of the tipped cigarillo segment of the machine-made large cigars category, with a retail share of approximately 84% (84%) in 2011. for 2011, middleton's retail share of the cigar category increased 0.3 share points to 29.7% (29.7%) versus 2010. black & mild's 2011 retail share increased 0.5 share points, as the brand benefited from new product introductions. during the fourth quarter of 2011, middleton broadened its untipped cigarillo portfolio with new aroma wrap 2122 foil pouch packaging that accompanied the national introduction of black & mild wine. this new fourth- quarter packaging roll-out also included black & mild sweets and classic varieties. during the second quarter of 2011, middleton entered into a contract manufacturing arrangement to source the production of a portion of its cigars overseas. middleton entered into this arrangement to access additional production capacity in an uncertain competitive environment and an excise tax environment that potentially benefits imported large cigars over those manufactured domestically. smokeless products segment the smokeless products segment's operating companies income grew during 2012 driven by higher pricing, copenhagen and skoal's combined volume and retail share performance and effective cost management. the following table summarizes smokeless products segment shipment volume performance: shipment volume for the years ended december 31.
(cans and packs in millions) | shipment volumefor the years ended december 31, 2012 | shipment volumefor the years ended december 31, 2011 | shipment volumefor the years ended december 31, 2010
copenhagen | 392.5 | 354.2 | 327.5
skoal | 288.4 | 286.8 | 274.4
copenhagenandskoal | 680.9 | 641.0 | 601.9
other | 82.4 | 93.6 | 122.5
total smokeless products | 763.3 | 734.6 | 724.4
volume includes cans and packs sold, as well as promotional units, but excludes international volume, which is not material to the smokeless products segment. other includes certain usstc and pm usa smokeless products. new types of smokeless products, as well as new packaging configurations.
what was the difference in total smokeless product shipment volume between 2011 and 2012? 28.7
and the specific value in 2011? 734.6
so what was the growth rate in this value? | 0.03907 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | 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
december 31 2007 | $100.00 | $100.00 | $100.00
december 31 2008 | 83.66 | 66.15 | 63.00
december 31 2009 | 93.20 | 84.12 | 79.67
december 31 2010 | 128.21 | 112.02 | 91.67
december 31 2011 | 117.47 | 109.70 | 93.61
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.
what was the performance price of the s&p 500 in 2012? 108.59
and what was the change in that performance price from 2007 to 2012? 8.59
how much, then, does this change represent in relation to the performance price of that stock in 2007? | 0.0859 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | marathon oil corporation notes to consolidated financial statements of the $446 million present value of net minimum capital lease payments, $53 million was related to obligations assumed by united states steel under the financial matters agreement. operating lease rental expense was: (in millions) 2009 2008 2007 minimum rental (a) $238 $245 $209.
(in millions) | 2009 | 2008 | 2007
minimum rental (a) | $238 | $245 | $209
contingent rental | 19 | 22 | 33
net rental expense | $257 | $267 | $242
(a) excludes $3 million, $5 million and $8 million paid by united states steel in 2009, 2008 and 2007 on assumed leases. 26. commitments and contingencies we are the subject of, or party to, a number of pending or threatened legal actions, contingencies and commitments involving a variety of matters, including laws and regulations relating to the environment. certain of these matters are discussed below. the ultimate resolution of these contingencies could, individually or in the aggregate, be material to our consolidated financial statements. however, management believes that we will remain a viable and competitive enterprise even though it is possible that these contingencies could be resolved unfavorably. environmental matters 2013 we are subject to federal, state, local and foreign laws and regulations relating to the environment. these laws generally provide for control of pollutants released into the environment and require responsible parties to undertake remediation of hazardous waste disposal sites. penalties may be imposed for noncompliance. at december 31, 2009 and 2008, accrued liabilities for remediation totaled $116 million and $111 million. it is not presently possible to estimate the ultimate amount of all remediation costs that might be incurred or the penalties that may be imposed. receivables for recoverable costs from certain states, under programs to assist companies in clean-up efforts related to underground storage tanks at retail marketing outlets, were $59 and $60 million at december 31, 2009 and 2008. legal cases 2013 we, along with other refining companies, settled a number of lawsuits pertaining to methyl tertiary-butyl ether (201cmtbe 201d) in 2008. presently, we are a defendant, along with other refining companies, in 27 cases arising in four states alleging damages for mtbe contamination. like the cases that we settled in 2008, 12 of the remaining cases are consolidated in a multi-district litigation (201cmdl 201d) in the southern district of new york for pretrial proceedings. the other 15 cases are in new york state courts (nassau and suffolk counties). plaintiffs in 26 of the 27 cases allege damages to water supply wells from contamination of groundwater by mtbe, similar to the damages claimed in the cases settled in 2008. in the remaining case, the new jersey department of environmental protection is seeking the cost of remediating mtbe contamination and natural resources damages allegedly resulting from contamination of groundwater by mtbe. we are vigorously defending these cases. we have engaged in settlement discussions related to the majority of these cases. we do not expect our share of liability for these cases to significantly impact our consolidated results of operations, financial position or cash flows. we voluntarily discontinued producing mtbe in 2002. we are currently a party to one qui tam case, which alleges that marathon and other defendants violated the false claims act with respect to the reporting and payment of royalties on natural gas and natural gas liquids for federal and indian leases. a qui tam action is an action in which the relator files suit on behalf of himself as well as the federal government. the case currently pending is u.s. ex rel harrold e. wright v. agip petroleum co. et al. it is primarily a gas valuation case. marathon has reached a settlement with the relator and the doj which will be finalized after the indian tribes review and approve the settlement terms. such settlement is not expected to significantly impact our consolidated results of operations, financial position or cash flows. guarantees 2013 we have provided certain guarantees, direct and indirect, of the indebtedness of other companies. under the terms of most of these guarantee arrangements, we would be required to perform should the guaranteed party fail to fulfill its obligations under the specified arrangements. in addition to these financial guarantees, we also have various performance guarantees related to specific agreements..
what was the change in the contingent rental liability from 2007 to 2009? -14.0
and how much does this change represent in relation to that contingent rental liability in 2007? | -0.42424 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | item 7. management 2019s discussion and analysis of financial condition and results of operations our management 2019s discussion and analysis of financial condition and results of operations (md&a) is provided in addition to the accompanying consolidated financial statements and notes to assist readers in understanding our results of operations, financial condition, and cash flows. md&a is organized as follows: 2022 overview. discussion of our business and overall analysis of financial and other highlights affecting the company in order to provide context for the remainder of md&a. 2022 critical accounting estimates. accounting estimates that we believe are most important to understanding the assumptions and judgments incorporated in our reported financial results and forecasts. 2022 results of operations. an analysis of our financial results comparing 2013 to 2012 and comparing 2012 to 2022 liquidity and capital resources. an analysis of changes in our balance sheets and cash flows, and discussion of our financial condition and potential sources of liquidity. 2022 fair value of financial instruments. discussion of the methodologies used in the valuation of our financial instruments. 2022 contractual obligations and off-balance-sheet arrangements. overview of contractual obligations, contingent liabilities, commitments, and off-balance-sheet arrangements outstanding as of december 28, 2013, including expected payment schedule. the various sections of this md&a contain a number of forward-looking statements that involve a number of risks and uncertainties. words such as 201canticipates, 201d 201cexpects, 201d 201cintends, 201d 201cplans, 201d 201cbelieves, 201d 201cseeks, 201d 201cestimates, 201d 201ccontinues, 201d 201cmay, 201d 201cwill, 201d 201cshould, 201d and variations of such words and similar expressions are intended to identify such forward-looking statements. in addition, any statements that refer to projections of our future financial performance, our anticipated growth and trends in our businesses, uncertain events or assumptions, and other characterizations of future events or circumstances are forward-looking statements. such statements are based on our current expectations and could be affected by the uncertainties and risk factors described throughout this filing and particularly in 201crisk factors 201d in part i, item 1a of this form 10-k. our actual results may differ materially, and these forward-looking statements do not reflect the potential impact of any divestitures, mergers, acquisitions, or other business combinations that had not been completed as of february 14, 2014. overview our results of operations for each period were as follows:.
(dollars in millions except per share amounts) | three months ended dec. 282013 | three months ended sept. 282013 | three months ended change | three months ended dec. 282013 | three months ended dec. 292012 | change
net revenue | $13834 | $13483 | $351 | $52708 | $53341 | $-633 (633)
gross margin | $8571 | $8414 | $157 | $31521 | $33151 | $-1630 (1630)
gross margin percentage | 62.0% (62.0%) | 62.4% (62.4%) | (0.4)% (%) | 59.8% (59.8%) | 62.1% (62.1%) | (2.3)% (%)
operating income | $3549 | $3504 | $45 | $12291 | $14638 | $-2347 (2347)
net income | $2625 | $2950 | $-325 (325) | $9620 | $11005 | $-1385 (1385)
diluted earnings per common share | $0.51 | $0.58 | $-0.07 (0.07) | $1.89 | $2.13 | $-0.24 (0.24)
revenue for 2013 was down 1% (1%) from 2012. pccg experienced lower platform unit sales in the first half of the year, but saw offsetting growth in the back half as the pc market began to show signs of stabilization. dcg continued to benefit from the build out of internet cloud computing and the strength of our product portfolio resulting in increased platform volumes for dcg for the year. higher factory start-up costs for our next-generation 14nm process technology led to a decrease in gross margin compared to 2012. in response to the current business environment and to better align resources, management approved several restructuring actions including targeted workforce reductions as well as the exit of certain businesses and facilities. these actions resulted in restructuring and asset impairment charges of $240 million for 2013. table of contents.
what was the total of diluted earnings per common share as of december 2013? 1.89
and what was it as of december 2012? 2.13
what was, then, the change in that total over the year? -0.24
and how much does this change represent in relation to the 2012 total of diluted earnings per common share, in percentage? | -0.11268 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | american tower corporation and subsidiaries notes to consolidated financial statements 2014 (continued) a description of the company 2019s reporting units and the results of the related transitional impairment testing are as follows: verestar 2014verestar was a single segment and reporting unit until december 2002, when the company committed to a plan to dispose of verestar. the company recorded an impairment charge of $189.3 million relating to the impairment of goodwill in this reporting unit. the fair value of this reporting unit was determined based on an independent third party appraisal. network development services 2014as of january 1, 2002, the reporting units in the company 2019s network development services segment included kline, specialty constructors, galaxy, mts components and flash technologies. the company estimated the fair value of these reporting units utilizing future discounted cash flows and market information as to the value of each reporting unit on january 1, 2002. the company recorded an impairment charge of $387.8 million for the year ended december 31, 2002 related to the impairment of goodwill within these reporting units. such charge included full impairment for all of the goodwill within the reporting units except kline, for which only a partial impairment was recorded. as discussed in note 2, the assets of all of these reporting units were sold as of december 31, 2003, except for those of kline and our tower construction services unit, which were sold in march and november 2004, respectively. rental and management 2014the company obtained an independent third party appraisal of the rental and management reporting unit that contains goodwill and determined that goodwill was not impaired. the company 2019s other intangible assets subject to amortization consist of the following as of december 31, (in thousands):.
- | 2004 | 2003
acquired customer base and network location intangibles | $1369607 | $1299521
deferred financing costs | 89736 | 111484
acquired licenses and other intangibles | 43404 | 43125
total | 1502747 | 1454130
less accumulated amortization | -517444 (517444) | -434381 (434381)
other intangible assets net | $985303 | $1019749
the company amortizes its intangible assets over periods ranging from three to fifteen years. amortization of intangible assets for the years ended december 31, 2004 and 2003 aggregated approximately $97.8 million and $94.6 million, respectively (excluding amortization of deferred financing costs, which is included in interest expense). the company expects to record amortization expense of approximately $97.8 million, $95.9 million, $92.0 million, $90.5 million and $88.8 million, respectively, for the years ended december 31, 2005, 2006, 2007, 2008 and 2009, respectively. 5. notes receivable in 2000, the company loaned tv azteca, s.a. de c.v. (tv azteca), the owner of a major national television network in mexico, $119.8 million. the loan, which initially bore interest at 12.87% (12.87%), payable quarterly, was discounted by the company, as the fair value interest rate at the date of the loan was determined to be 14.25% (14.25%). the loan was amended effective january 1, 2003 to increase the original interest rate to 13.11% (13.11%). as of december 31, 2004, and 2003, approximately $119.8 million undiscounted ($108.2 million discounted) under the loan was outstanding and included in notes receivable and other long-term assets in the accompanying consolidated balance sheets. the term of the loan is seventy years; however, the loan may be prepaid by tv.
what was the difference in amortization expense between 2008 and 2009? 1.9
so what was the percentage change? | 0.01981 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | 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)
2015 | $1.14 | $170
2016 | $1.16 | $172
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..
what is the ratio of the payment amount per share, 2017 to 2016? 1.28448
what is that less 1? | 0.28448 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | 4. stock options and other stock plans we have 100962 options outstanding under the 1993 stock option and retention stock plan of union pacific corporation (1993 plan). there are 7140 restricted shares outstanding under the 1992 restricted stock plan for non-employee directors of union pacific corporation. we no longer grant options or awards of retention shares and units under these plans. in april 2000, the shareholders approved the union pacific corporation 2000 directors plan (directors plan) whereby 1100000 shares of our common stock were reserved for issuance to our non-employee directors. under the directors plan, each non-employee director, upon his or her initial election to the board of directors, receives a grant of 2000 shares of retention shares or retention stock units. prior to december 31, 2007, each non-employee director received annually an option to purchase at fair value a number of shares of our common stock, not to exceed 10000 shares during any calendar year, determined by dividing 60000 by 1/3 of the fair market value of one share of our common stock on the date of such board of directors meeting, with the resulting quotient rounded up or down to the nearest 50 shares. as of december 31, 2009, 18000 restricted shares were outstanding under the directors plan and 292000 options were outstanding under the directors plan. the union pacific corporation 2001 stock incentive plan (2001 plan) was approved by the shareholders in april 2001. the 2001 plan reserved 24000000 shares of our common stock for issuance to eligible employees of the corporation and its subsidiaries in the form of non-qualified options, incentive stock options, retention shares, stock units, and incentive bonus awards. non-employee directors were not eligible for awards under the 2001 plan. as of december 31, 2009, 3366230 options were outstanding under the 2001 plan. we no longer grant any stock options or other stock or unit awards under this plan. the union pacific corporation 2004 stock incentive plan (2004 plan) was approved by shareholders in april 2004. the 2004 plan reserved 42000000 shares of our common stock for issuance, plus any shares subject to awards made under the 2001 plan and the 1993 plan that were outstanding on april 16, 2004, and became available for regrant pursuant to the terms of the 2004 plan. under the 2004 plan, non- qualified options, stock appreciation rights, retention shares, stock units, and incentive bonus awards may be granted to eligible employees of the corporation and its subsidiaries. non-employee directors are not eligible for awards under the 2004 plan. as of december 31, 2009, 8939710 options and 3778997 retention shares and stock units were outstanding under the 2004 plan. pursuant to the above plans 33559150; 36961123; and 38601728 shares of our common stock were authorized and available for grant at december 31, 2009, 2008, and 2007, respectively. stock options 2013 we estimate the fair value of our stock option awards using the black-scholes option pricing model. groups of employees and non-employee directors that have similar historical and expected exercise behavior are considered separately for valuation purposes. the table below shows the annual weighted-average assumptions used for valuation purposes: weighted-average assumptions 2009 2008 2007.
weighted-average assumptions | 2009 | 2008 | 2007
risk-free interest rate | 1.9% (1.9%) | 2.8% (2.8%) | 4.9% (4.9%)
dividend yield | 2.3% (2.3%) | 1.4% (1.4%) | 1.4% (1.4%)
expected life (years) | 5.1 | 5.3 | 4.7
volatility | 31.3% (31.3%) | 22.2% (22.2%) | 20.9% (20.9%)
weighted-average grant-date fair value of options granted | $11.33 | $13.35 | $11.19
.
what is the assumed fmv of a share? 2000.0
under the pre-december 31, 2007 plan what would have been the value correspondent to a third of that fmv? 666.66667
in order to determine the number of shares that can be bought by each non-employee director, what would be the value that gets divided by this third of the fmv? | 60000.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | jpmorgan chase & co./2014 annual report 63 five-year stock performance the following table and graph compare the five-year cumulative total return for jpmorgan chase & co. (201cjpmorgan chase 201d or the 201cfirm 201d) common stock with the cumulative return of the s&p 500 index, the kbw bank index and the s&p financial index. the s&p 500 index is a commonly referenced u.s. equity benchmark consisting of leading companies from different economic sectors. the kbw bank index seeks to reflect the performance of banks and thrifts that are publicly traded in the u.s. and is composed of 24 leading national money center and regional banks and thrifts. the s&p financial index is an index of 85 financial companies, all of which are components of the s&p 500. the firm is a component of all three industry indices. the following table and graph assume simultaneous investments of $100 on december 31, 2009, in jpmorgan chase common stock and in each of the above indices. the comparison assumes that all dividends are reinvested. december 31, (in dollars) 2009 2010 2011 2012 2013 2014.
december 31 (in dollars) | 2009 | 2010 | 2011 | 2012 | 2013 | 2014
jpmorgan chase | $100.00 | $102.30 | $81.87 | $111.49 | $152.42 | $167.48
kbw bank index | 100.00 | 123.36 | 94.75 | 125.91 | 173.45 | 189.69
s&p financial index | 100.00 | 112.13 | 93.00 | 119.73 | 162.34 | 186.98
s&p 500 index | 100.00 | 115.06 | 117.48 | 136.27 | 180.39 | 205.07
.
what is the price of jpmorgan chase in 2014? 167.48
what is that less an initial $100 investment? | 67.48 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | entergy corporation notes to consolidated financial statements (d) the bonds are subject to mandatory tender for purchase from the holders at 100% (100%) of the principal amount outstanding on october 1, 2003 and will then be remarketed. (e) on june 1, 2002, entergy louisiana remarketed $55 million st. charles parish pollution control revenue refunding bonds due 2030, resetting the interest rate to 4.9% (4.9%) through may 2005. (f) the bonds are subject to mandatory tender for purchase from the holders at 100% (100%) of the principal amount outstanding on june 1, 2005 and will then be remarketed. (g) the fair value excludes lease obligations, long-term doe obligations, and other long-term debt and includes debt due within one year. it is determined using bid prices reported by dealer markets and by nationally recognized investment banking firms. the annual long-term debt maturities (excluding lease obligations) and annual cash sinking fund requirements for debt outstanding as of december 31, 2002, for the next five years are as follows (in thousands):.
2003 | $1150786
2004 | $925005
2005 | $540372
2006 | $139952
2007 | $475288
not included are other sinking fund requirements of approximately $30.2 million annually, which may be satisfied by cash or by certification of property additions at the rate of 167% (167%) of such requirements. in december 2002, when the damhead creek project was sold, the buyer of the project assumed all obligations under the damhead creek credit facilities and the damhead creek interest rate swap agreements. in november 2000, entergy's non-utility nuclear business purchased the fitzpatrick and indian point 3 power plants in a seller-financed transaction. entergy issued notes to nypa with seven annual installments of approximately $108 million commencing one year from the date of the closing, and eight annual installments of $20 million commencing eight years from the date of the closing. these notes do not have a stated interest rate, but have an implicit interest rate of 4.8% (4.8%). in accordance with the purchase agreement with nypa, the purchase of indian point 2 resulted in entergy's non-utility nuclear business becoming liable to nypa for an additional $10 million per year for 10 years, beginning in september 2003. this liability was recorded upon the purchase of indian point 2 in september 2001. covenants in the entergy corporation 7.75% (7.75%) notes require it to maintain a consolidated debt ratio of 65% (65%) or less of its total capitalization. if entergy's debt ratio exceeds this limit, or if entergy or certain of the domestic utility companies default on other credit facilities or are in bankruptcy or insolvency proceedings, an acceleration of the facility's maturity may occur. in january 2003, entergy paid in full, at maturity, the outstanding debt relating to the top of iowa wind project. capital funds agreement pursuant to an agreement with certain creditors, entergy corporation has agreed to supply system energy with sufficient capital to: fffd maintain system energy's equity capital at a minimum of 35% (35%) of its total capitalization (excluding short-term debt); fffd permit the continued commercial operation of grand gulf 1; fffd pay in full all system energy indebtedness for borrowed money when due; and fffd enable system energy to make payments on specific system energy debt, under supplements to the agreement assigning system energy's rights in the agreement as security for the specific debt..
what is the value of other sinking fund requirements times 1000? 30200.0
what is that divided by the annual long-term debt maturities (excluding lease obligations) and annual cash sinking fund requirements for debt outstanding in 2007? | 0.06354 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | n o t e s t o t h e c o n s o l i d a t e d f i n a n c i a l s t a t e m e n t s 2013 (continued) ace limited and subsidiaries excluded from adjusted weighted-average shares outstanding and assumed conversions is the impact of securities that would have been anti-dilutive during the respective years. for the years ended december 31, 2010, 2009, and 2008, the potential anti-dilutive share conversions were 256868 shares, 1230881 shares, and 638401 shares, respectively. 19. related party transactions the ace foundation 2013 bermuda is an unconsolidated not-for-profit organization whose primary purpose is to fund charitable causes in bermuda. the trustees are principally comprised of ace management. the company maintains a non-interest bear- ing demand note receivable from the ace foundation 2013 bermuda, the balance of which was $30 million and $31 million, at december 31, 2010 and 2009, respectively. the receivable is included in other assets in the accompanying consolidated balance sheets. the borrower has used the related proceeds to finance investments in bermuda real estate, some of which have been rented to ace employees at rates established by independent, professional real estate appraisers. the borrower uses income from the investments to both repay the note and to fund charitable activities. accordingly, the company reports the demand note at the lower of its principal value or the fair value of assets held by the borrower to repay the loan, including the real estate properties. 20. statutory financial information the company 2019s insurance and reinsurance subsidiaries are subject to insurance laws and regulations in the jurisdictions in which they operate. these regulations include restrictions that limit the amount of dividends or other distributions, such as loans or cash advances, available to shareholders without prior approval of the insurance regulatory authorities. there are no statutory restrictions on the payment of dividends from retained earnings by any of the bermuda subsidiaries as the minimum statutory capital and surplus requirements are satisfied by the share capital and additional paid-in capital of each of the bermuda subsidiaries. the company 2019s u.s. subsidiaries file financial statements prepared in accordance with statutory accounting practices prescribed or permitted by insurance regulators. statutory accounting differs from gaap in the reporting of certain reinsurance contracts, investments, subsidiaries, acquis- ition expenses, fixed assets, deferred income taxes, and certain other items. the statutory capital and surplus of the u.s. subsidiaries met regulatory requirements for 2010, 2009, and 2008. the amount of dividends available to be paid in 2011, without prior approval from the state insurance departments, totals $850 million. the following table presents the combined statutory capital and surplus and statutory net income of the bermuda and u.s. subsidiaries at and for the years ended december 31, 2010, 2009, and 2008..
(in millions of u.s. dollars) | bermuda subsidiaries 2010 | bermuda subsidiaries 2009 | bermuda subsidiaries 2008 | bermuda subsidiaries 2010 | bermuda subsidiaries 2009 | 2008
statutory capital and surplus | $11798 | $9164 | $6205 | $6266 | $5885 | $5368
statutory net income | $2430 | $2369 | $2196 | $1047 | $904 | $818
as permitted by the restructuring discussed previously in note 7, certain of the company 2019s u.s. subsidiaries discount certain a&e liabilities, which increased statutory capital and surplus by approximately $206 million, $215 million, and $211 million at december 31, 2010, 2009, and 2008, respectively. the company 2019s international subsidiaries prepare statutory financial statements based on local laws and regulations. some jurisdictions impose complex regulatory requirements on insurance companies while other jurisdictions impose fewer requirements. in some countries, the company must obtain licenses issued by governmental authorities to conduct local insurance business. these licenses may be subject to reserves and minimum capital and solvency tests. jurisdictions may impose fines, censure, and/or criminal sanctions for violation of regulatory requirements..
what is the statutory net income bermuda subsidiaries in 2010? 2430.0
what about 2009? | 2369.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | 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
net cash provided by operating activities | $2134 | $1791 | $2715 | $343 | $-924 (924)
add: capital expenditures related to service concession assets (1) | 165 | 2014 | 2014 | 165 | 2014
adjusted operating cash flow | 2299 | 1791 | 2715 | 508 | -924 (924)
less: proportional adjustment factor on operating cash activities (2) (3) | -558 (558) | -359 (359) | -834 (834) | -199 (199) | 475
proportional adjusted operating cash flow | 1741 | 1432 | 1881 | 309 | -449 (449)
less: proportional maintenance capital expenditures net of reinsurance proceeds (2) | -449 (449) | -485 (485) | -535 (535) | 36 | 50
less: proportional non-recoverable environmental capital expenditures (2) (4) | -51 (51) | -56 (56) | -75 (75) | 5 | 19
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..
what is the proportional recoverable environmental capital expenditures in 2015? 205.0
what is the value in 2014? | 163.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | notes to consolidated financial statements 2013 (continued) (amounts in millions, except per share amounts) cash flows for 2010, we expect to contribute $25.2 and $9.2 to our foreign pension plans and domestic pension plans, respectively. a significant portion of our contributions to the foreign pension plans relate to the u.k. pension plan. additionally, we are in the process of modifying the schedule of employer contributions for the u.k. pension plan and we expect to finalize this during 2010. as a result, we expect our contributions to our foreign pension plans to increase from current levels in 2010 and subsequent years. during 2009, we contributed $31.9 to our foreign pension plans and contributions to the domestic pension plan were negligible. the following estimated future benefit payments, which reflect future service, as appropriate, are expected to be paid in the years indicated below. domestic pension plans foreign pension plans postretirement benefit plans.
years | domestic pension plans | foreign pension plans | postretirement benefit plans
2010 | $17.2 | $23.5 | $5.8
2011 | 11.1 | 24.7 | 5.7
2012 | 10.8 | 26.4 | 5.7
2013 | 10.5 | 28.2 | 5.6
2014 | 10.5 | 32.4 | 5.5
2015 2013 2019 | 48.5 | 175.3 | 24.8
the estimated future payments for our postretirement benefit plans are before any estimated federal subsidies expected to be received under the medicare prescription drug, improvement and modernization act of 2003. federal subsidies are estimated to range from $0.5 in 2010 to $0.6 in 2014 and are estimated to be $2.4 for the period 2015-2019. savings plans we sponsor defined contribution plans (the 201csavings plans 201d) that cover substantially all domestic employees. the savings plans permit participants to make contributions on a pre-tax and/or after-tax basis and allows participants to choose among various investment alternatives. we match a portion of participant contributions based upon their years of service. amounts expensed for the savings plans for 2009, 2008 and 2007 were $35.1, $29.6 and $31.4, respectively. expense includes a discretionary company contribution of $3.8, $4.0 and $4.9 offset by participant forfeitures of $2.7, $7.8, $6.0 in 2009, 2008 and 2007, respectively. in addition, we maintain defined contribution plans in various foreign countries and contributed $25.0, $28.7 and $26.7 to these plans in 2009, 2008 and 2007, respectively. deferred compensation and benefit arrangements we have deferred compensation arrangements which (i) permit certain of our key officers and employees to defer a portion of their salary or incentive compensation, or (ii) require us to contribute an amount to the participant 2019s account. the arrangements typically provide that the participant will receive the amounts deferred plus interest upon attaining certain conditions, such as completing a certain number of years of service or upon retirement or termination. as of december 31, 2009 and 2008, the deferred compensation liability balance was $100.3 and $107.6, respectively. amounts expensed for deferred compensation arrangements in 2009, 2008 and 2007 were $11.6, $5.7 and $11.9, respectively. we have deferred benefit arrangements with certain key officers and employees that provide participants with an annual payment, payable when the participant attains a certain age and after the participant 2019s employment has terminated. the deferred benefit liability was $178.2 and $182.1 as of december 31, 2009 and 2008, respectively. amounts expensed for deferred benefit arrangements in 2009, 2008 and 2007 were $12.0, $14.9 and $15.5, respectively. we have purchased life insurance policies on participants 2019 lives to assist in the funding of the related deferred compensation and deferred benefit liabilities. as of december 31, 2009 and 2008, the cash surrender value of these policies was $119.4 and $100.2, respectively. in addition to the life insurance policies, certain investments are held for the purpose of paying the deferred compensation and deferred benefit liabilities. these investments, along with the life insurance policies, are held in a separate revocable trust for the purpose of paying the deferred compensation and the deferred benefit.
what was the difference between the highest and the lowest future benefit payment made for the postretirement benefit plans? 19.3
and concerning the defined contribution plans in various foreign countries, what was their amount in 2008? 28.7
what was it in 2007? | 26.7 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | republic services, inc. notes to consolidated financial statements 2014 (continued) 16. financial instruments fuel hedges we have entered into multiple swap agreements designated as cash flow hedges to mitigate some of our exposure related to changes in diesel fuel prices. these swaps qualified for, and were designated as, effective hedges of changes in the prices of forecasted diesel fuel purchases (fuel hedges). the following table summarizes our outstanding fuel hedges as of december 31, 2015: year gallons hedged weighted average contract price per gallon.
year | gallons hedged | weighted average contractprice per gallon
2016 | 27000000 | $3.57
2017 | 12000000 | 2.92
if the national u.s. on-highway average price for a gallon of diesel fuel as published by the department of energy exceeds the contract price per gallon, we receive the difference between the average price and the contract price (multiplied by the notional gallons) from the counterparty. if the average price is less than the contract price per gallon, we pay the difference to the counterparty. the fair values of our fuel hedges are determined using standard option valuation models with assumptions about commodity prices based on those observed in underlying markets (level 2 in the fair value hierarchy). the aggregate fair values of our outstanding fuel hedges as of december 31, 2015 and 2014 were current liabilities of $37.8 million and $34.4 million, respectively, and have been recorded in other accrued liabilities in our consolidated balance sheets. the ineffective portions of the changes in fair values resulted in a loss of $0.4 million and $0.5 million for the years ended december 31, 2015 and 2014 respectively, and a gain of less than $0.1 million for the year ended december 31, 2013, and have been recorded in other income, net in our consolidated statements of income. total (loss) gain recognized in other comprehensive (loss) income for fuel hedges (the effective portion) was $(2.0) million, $(24.2) million and $2.4 million, for the years ended december 31, 2015, 2014 and 2013, respectively. recycling commodity hedges revenue from the sale of recycled commodities is primarily from sales of old corrugated cardboard and old newspaper. from time to time we use derivative instruments such as swaps and costless collars designated as cash flow hedges to manage our exposure to changes in prices of these commodities. we had no outstanding recycling commodity hedges as of december 31, 2015 and 2014. no amounts were recognized in other income, net in our consolidated statements of income for the ineffective portion of the changes in fair values during the years ended december 31, 2015, 2014 and 2013. total gain (loss) recognized in other comprehensive income for recycling commodity hedges (the effective portion) was $0.1 million and $(0.1) million for the years ended december 31, 2014 and 2013, respectively. no amount was recognized in other comprehensive income for 2015. fair value measurements in measuring fair values of assets and liabilities, we use valuation techniques that maximize the use of observable inputs (level 1) and minimize the use of unobservable inputs (level 3). we also use market data or assumptions that we believe market participants would use in pricing an asset or liability, including assumptions about risk when appropriate..
what is the 2015 value of outstanding fuel hedges less the 2014 value? | 3.4 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | stock price performance the following graph shows a comparison of the cumulative total return on our common stock, the standard & poor's 500 index and the standard & poor's 500 retail index. the graph assumes that the value of an investment in our common stock and in each such index was $100 on december 30, 2006, and that any dividends have been reinvested. the comparison in the graph below is based solely on historical data and is not intended to forecast the possible future performance of our common stock. comparison of cumulative total return among advance auto parts, inc., s&p 500 index and s&p 500 retail index company/index advance auto parts s&p 500 index s&p retail index december 30, $100.00 100.00 100.00 december 29, $108.00 104.24 january 3, $97.26 january 2, $116.01 january 1, $190.41 101.84 december 31, $201.18 104.81.
company/index | december 30 2006 | december 29 2007 | january 3 2009 | january 2 2010 | january 1 2011 | december 31 2011
advance auto parts | $100.00 | $108.00 | $97.26 | $116.01 | $190.41 | $201.18
s&p 500 index | 100.00 | 104.24 | 65.70 | 78.62 | 88.67 | 88.67
s&p retail index | 100.00 | 82.15 | 58.29 | 82.36 | 101.84 | 104.81
stock price performance the following graph shows a comparison of the cumulative total return on our common stock, the standard & poor's 500 index and the standard & poor's 500 retail index. the graph assumes that the value of an investment in our common stock and in each such index was $100 on december 30, 2006, and that any dividends have been reinvested. the comparison in the graph below is based solely on historical data and is not intended to forecast the possible future performance of our common stock. comparison of cumulative total return among advance auto parts, inc., s&p 500 index and s&p 500 retail index company/index advance auto parts s&p 500 index s&p retail index december 30, $100.00 100.00 100.00 december 29, $108.00 104.24 january 3, $97.26 january 2, $116.01 january 1, $190.41 101.84 december 31, $201.18 104.81.
what was the price performance of the advance auto parts stock in january 2009? 97.26
and by how much did it change since 2006? -2.74
what is this change as a portion of the 2006 price performance of that stock? -0.0274
in the same period, what was that change for the s&p500 index? -34.3
and what was this s&p500 index change as a portion of its 2006 price performance? | -0.343 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | edwards lifesciences corporation notes to consolidated financial statements (continued) 13. common stock (continued) the company also maintains the nonemployee directors stock incentive compensation program (the 2018 2018nonemployee directors program 2019 2019). under the nonemployee directors program, upon a director 2019s initial election to the board, the director receives an initial grant of stock options or restricted stock units equal to a fair market value on grant date of $0.2 million, not to exceed 20000 shares. these grants vest over three years from the date of grant, subject to the director 2019s continued service. in addition, annually each nonemployee director may receive up to 40000 stock options or 16000 restricted stock units of the company 2019s common stock, or a combination thereof, provided that in no event may the total value of the combined annual award exceed $0.2 million. these grants generally vest over one year from the date of grant. under the nonemployee directors program, an aggregate of 2.8 million shares of the company 2019s common stock has been authorized for issuance. the company has an employee stock purchase plan for united states employees and a plan for international employees (collectively 2018 2018espp 2019 2019). under the espp, eligible employees may purchase shares of the company 2019s common stock at 85% (85%) of the lower of the fair market value of edwards lifesciences common stock on the effective date of subscription or the date of purchase. under the espp, employees can authorize the company to withhold up to 12% (12%) of their compensation for common stock purchases, subject to certain limitations. the espp is available to all active employees of the company paid from the united states payroll and to eligible employees of the company outside the united states, to the extent permitted by local law. the espp for united states employees is qualified under section 423 of the internal revenue code. the number of shares of common stock authorized for issuance under the espp was 13.8 million shares. the fair value of each option award and employee stock purchase subscription is estimated on the date of grant using the black-scholes option valuation model that uses the assumptions noted in the following tables. the risk-free interest rate is estimated using the u.s. treasury yield curve and is based on the expected term of the award. expected volatility is estimated based on a blend of the weighted-average of the historical volatility of edwards lifesciences 2019 stock and the implied volatility from traded options on edwards lifesciences 2019 stock. the expected term of awards granted is estimated from the vesting period of the award, as well as historical exercise behavior, and represents the period of time that awards granted are expected to be outstanding. the company uses historical data to estimate forfeitures and has estimated an annual forfeiture rate of 6.0% (6.0%). the black-scholes option pricing model was used with the following weighted-average assumptions for options granted during the following periods: option awards.
- | 2016 | 2015 | 2014
average risk-free interest rate | 1.1% (1.1%) | 1.4% (1.4%) | 1.5% (1.5%)
expected dividend yield | none | none | none
expected volatility | 33% (33%) | 30% (30%) | 31% (31%)
expected life (years) | 4.5 | 4.6 | 4.6
fair value per share | $31.00 | $18.13 | $11.75
.
what is the fair value per share in 2016? 31.0
what is it in 2015? 18.13
what is the net change? | 12.87 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | stock performance graph this performance graph shall not be deemed 201cfiled 201d for purposes of section 18 of the securities exchange act of 1934, as amended (the 201cexchange act 201d) or otherwise subject to the liabilities under that section and shall not be deemed to be incorporated by reference into any filing of tractor supply company under the securities act of 1933, as amended, or the exchange act. the following graph compares the cumulative total stockholder return on our common stock from december 29, 2012 to december 30, 2017 (the company 2019s fiscal year-end), with the cumulative total returns of the s&p 500 index and the s&p retail index over the same period. the comparison assumes that $100 was invested on december 29, 2012, in our common stock and in each of the foregoing indices and in each case assumes reinvestment of dividends. the historical stock price performance shown on this graph is not indicative of future performance..
- | 12/29/2012 | 12/28/2013 | 12/27/2014 | 12/26/2015 | 12/31/2016 | 12/30/2017
tractor supply company | $100.00 | $174.14 | $181.29 | $201.04 | $179.94 | $180.52
s&p 500 | $100.00 | $134.11 | $155.24 | $156.43 | $173.74 | $211.67
s&p retail index | $100.00 | $147.73 | $164.24 | $207.15 | $219.43 | $286.13
.
what is the price of tractor supply company in 2013? 174.14
what is the price in 2012? | 100.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | notes to consolidated financial statements (continued) march 31, 2004 5. income taxes (continued) the effective tax rate of zero differs from the statutory rate of 34% (34%) primarily due to the inability of the company to recognize deferred tax assets for its operating losses and tax credits. of the total valuation allowance, approximately $2400000 relates to stock option compensation deductions. the tax benefit associated with the stock option compensation deductions will be credited to equity when realized. 6. 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 2013 the 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. while the company engages in extensive product quality programs and processes, including monitoring and evaluating the quality of component suppliers, its warranty obligation is affected by product failure rates. operating results could be adversely effected if the actual cost of product failures exceeds the estimated warranty provision. patent indemnifications 2013 in 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, 2004, the company had entered into leases for its facilities, including its primary operating facility in danvers, massachusetts, with terms through fiscal 2010. the company has elected not to exercise a buyout option available under its primary lease that would have allowed for early termination in 2005. total rent expense under these leases, included in the accompanying consolidated statements of operations, was approximately $856000, $823000 and $821000 for the fiscal years ended march 31, 2002, 2003 and 2004, respectively. during the fiscal year ended march 31, 2000, the company entered into 36-month operating leases totaling approximately $644000 for the lease of office furniture. these leases ended in fiscal year 2003 and at the company 2019s option the furniture was purchased. rental expense recorded for these leases during the fiscal years ended march 31, 2002 and 2003 was approximately $215000 and $127000 respectively. during fiscal 2000, the company entered into a 36-month capital lease for computer equipment and software for approximately $221000. this lease ended in fiscal year 2003 and at the company 2019s option these assets were purchased. future minimum lease payments under all non-cancelable operating leases as of march 31, 2004 are approximately as follows (in thousands):.
year ending march 31, | operating leases
2005 | $781
2006 | 776
2007 | 769
2008 | 772
2009 | 772
thereafter | 708
total future minimum lease payments | $4578
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, will not have a material adverse effect on the company..
what is the last year included in the remaining terms of the facility leases? 2010.0
and what is the first year? 2004.0
how many years, then, are comprehended in this period? 6.0
considering that the annual rent of 2003 continues through this period, what would be the total remaining obligation in all of these years? | 4926000.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | inventory on hand, as well as our future purchase commitments with our suppliers, considering multiple factors, including demand forecasts, product life cycle, current sales levels, pricing strategy and cost trends. if our review indicates that inventories of raw materials, components or finished products have become obsolete or are in excess of anticipated demand or that inventory cost exceeds net realizable value, we may be required to make adjustments that will impact the results of operations. 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. 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, 2018, the carrying value of our goodwill was $7.2 billion, which is related to ten reporting units, each of which consists of a group of markets with similar economic characteristics. the estimated fair value of each of our ten reporting units exceeded the carrying value as of december 31, 2018. 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. 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 group, inc., we have not recorded a charge to earnings for an impairment of goodwill or non-amortizable intangible assets. marketing costs - we incur certain costs to support our products through programs that 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's 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. 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 pension and postretirement plan obligations at december 31, 2018 and 2017 are as follows:.
- | 2018 | 2017
pension plans | 1.61% (1.61%) | 1.51% (1.51%)
postretirement plans | 3.97% (3.97%) | 3.79% (3.79%)
we anticipate that assumption changes will increase 2019 pre-tax pension and postretirement expense to approximately $205 million as compared with approximately $160 million in 2018, excluding amounts related to employee severance and early retirement programs. the anticipated increase is primarily due to higher amortization out of other comprehensive earnings for unrecognized actuarial gains/ losses of $14 million, coupled with lower return on assets of $16 million, higher interest and service cost of $12 million and $4 million respectively, partially offset by other movements of $1 million. weighted-average expected rate of return and discount rate assumptions have a significant effect on the amount of expense reported for the employee benefit plans. a fifty-basis-point decrease in our discount rate would increase our 2019 pension and postretirement expense by approximately $50 million, and a fifty-basis-point increase in our discount rate would decrease our 2019 pension and postretirement.
what was the weighted average discount rate for postretirement plans in 2018? 3.97
and what was it in 2017? 3.79
what was, then, the change over the year? | 0.18 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | comparison of cumulative return among lkq corporation, the nasdaq stock market (u.s.) index and the peer group.
- | 12/31/2011 | 12/31/2012 | 12/31/2013 | 12/31/2014 | 12/31/2015 | 12/31/2016
lkq corporation | $100 | $140 | $219 | $187 | $197 | $204
s&p 500 index | $100 | $113 | $147 | $164 | $163 | $178
peer group | $100 | $111 | $140 | $177 | $188 | $217
this stock performance information is "furnished" and shall not be deemed to be "soliciting material" or subject to rule 14a, shall not be deemed "filed" for purposes of section 18 of the securities exchange act of 1934 or otherwise subject to the liabilities of that section, and shall not be deemed incorporated by reference in any filing under the securities act of 1933 or the securities exchange act of 1934, whether made before or after the date of this report and irrespective of any general incorporation by reference language in any such filing, except to the extent that it specifically incorporates the information by reference. information about our common stock that may be issued under our equity compensation plans as of december 31, 2016 included in part iii, item 12 of this annual report on form 10-k is incorporated herein by reference..
what was the change in the return of the lkq corporation from 2011 to 2016? 104.0
and how much does this change represent in relation to the return of that stock in 2011, in percentage? 1.04
what was the change in the return of the s&p 500 index from 2011 to 2016? 78.0
and what was that return in 2011? | 100.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | the following graph compares the cumulative 5-year total return to shareholders of cadence design systems, inc. 2019s common stock relative to the cumulative total returns of the s & p 500 index, the nasdaq composite index and the s & p information technology index. the graph assumes that the value of the investment in the company 2019s common stock and in each of the indexes (including reinvestment of dividends) was $100 on december 29, 2001 and tracks it through december 30, 2006. comparison of 5 year cumulative total return* among cadence design systems, inc., the s & p 500 index, the nasdaq composite index and the s & p information technology index 12/30/0612/31/051/1/051/3/0412/28/0212/29/01 cadence design systems, inc. nasdaq composite s & p information technology s & p 500 * $100 invested on 12/29/01 in stock or on 12/31/01 in index-incuding reinvestment of dividends. indexes calculated on month-end basis. copyright b7 2007, standard & poor 2019s, a division of the mcgraw-hill companies, inc. all rights reserved. www.researchdatagroup.com/s&p.htm december 29, december 28, january 3, january 1, december 31, december 30.
- | december 29 2001 | december 28 2002 | january 3 2004 | january 1 2005 | december 31 2005 | december 30 2006
cadence design systems inc. | 100.00 | 54.38 | 81.52 | 61.65 | 75.54 | 79.96
s & p 500 | 100.00 | 77.90 | 100.24 | 111.15 | 116.61 | 135.03
nasdaq composite | 100.00 | 71.97 | 107.18 | 117.07 | 120.50 | 137.02
s & p information technology | 100.00 | 62.59 | 92.14 | 94.50 | 95.44 | 103.47
.
what was the change in the value of the cadence design systems inc. from 2001 to 2006? -20.04
and what is this change as a percent of that value in 2001? -0.2004
and only from 2001 to 2005, what was that change for the s&p500 stock? | 11.15 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | 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
cadence design systems inc. | $100.00 | $135.18 | $149.39 | $181.05 | $300.22 | $311.13
nasdaq composite | 100.00 | 112.60 | 113.64 | 133.19 | 172.11 | 165.84
s&p 500 | 100.00 | 110.28 | 109.54 | 129.05 | 157.22 | 150.33
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..
what is the value of cadence design stock in 2018? 311.13
what is that less an initial $100 investment? | 211.13 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | the future minimum lease commitments under these leases at december 31, 2010 are as follows (in thousands): years ending december 31:.
2011 | $62465
2012 | 54236
2013 | 47860
2014 | 37660
2015 | 28622
thereafter | 79800
future minimum lease payments | $310643
rental expense for operating leases was approximately $66.9 million, $57.2 million and $49.0 million during the years ended december 31, 2010, 2009 and 2008, respectively. in connection with the acquisitions of several businesses, we entered into agreements with several sellers of those businesses, some of whom became stockholders as a result of those acquisitions, for the lease of certain properties used in our operations. typical lease terms under these agreements include an initial term of five years, with three to five five-year renewal options and purchase options at various times throughout the lease periods. we also maintain the right of first refusal concerning the sale of the leased property. lease payments to an employee who became an officer of the company after the acquisition of his business were approximately $1.0 million, $0.9 million and $0.9 million during each of the years ended december 31, 2010, 2009 and 2008, respectively. we guarantee the residual values of the majority of our truck and equipment operating leases. the residual values decline over the lease terms to a defined percentage of original cost. in the event the lessor does not realize the residual value when a piece of equipment is sold, we would be responsible for a portion of the shortfall. similarly, if the lessor realizes more than the residual value when a piece of equipment is sold, we would be paid the amount realized over the residual value. had we terminated all of our operating leases subject to these guarantees at december 31, 2010, the guaranteed residual value would have totaled approximately $31.4 million. we have not recorded a liability for the guaranteed residual value of equipment under operating leases as the recovery on disposition of the equipment under the leases is expected to approximate the guaranteed residual value. litigation and related contingencies in december 2005 and may 2008, ford global technologies, llc filed complaints with the international trade commission against us and others alleging that certain aftermarket parts imported into the u.s. infringed on ford design patents. the parties settled these matters in april 2009 pursuant to a settlement arrangement that expires in september 2011. pursuant to the settlement, we (and our designees) became the sole distributor in the u.s. of aftermarket automotive parts that correspond to ford collision parts that are covered by a u.s. design patent. we have paid ford an upfront fee for these rights and will pay a royalty for each such part we sell. the amortization of the upfront fee and the royalty expenses are reflected in cost of goods sold on the accompanying consolidated statements of income. we also have certain other contingencies resulting from litigation, claims and other commitments and are subject to a variety of environmental and pollution control laws and regulations incident to the ordinary course of business. we currently expect that the resolution of such contingencies will not materially affect our financial position, results of operations or cash flows..
what was the net change in rental expense for operating leases from 2008 to 2009? 8.2
what was the value in 2008? 49.0
what is the net change divided by the 2008 value? | 0.16735 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | 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
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
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..
what would be the change in the multi-currency line of credit if the potential increase was fulfilled? 2.0
and how much does this change represent in relation to the original multi-currency line of credit, in percentage? | 0.4 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | equity compensation plan information the following table presents the equity securities available for issuance under our equity compensation plans as of december 31, 2017. equity compensation plan information plan category number of securities to be issued upon exercise of outstanding options, warrants and rights (1) weighted-average exercise price of outstanding options, warrants and rights number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a)) (a) (b) (c) equity compensation plans approved by security holders 448859 $0.00 4087587 equity compensation plans not approved by security holders (2) 2014 2014 2014.
plan category | number of securities to be issued upon exercise of outstanding options warrants and rights (1) (a) (b) | weighted-average exercise price of outstanding optionswarrants and rights | number of securities remaining available for future issuance under equity compensation plans (excluding securitiesreflected in column (a)) (c)
equity compensation plans approved by security holders | 448859 | $0.00 | 4087587
equity compensation plans not approved by security holders (2) | 2014 | 2014 | 2014
total | 448859 | $0.00 | 4087587
(1) includes grants made under the huntington ingalls industries, inc. 2012 long-term incentive stock plan (the "2012 plan"), which was approved by our stockholders on may 2, 2012, and the huntington ingalls industries, inc. 2011 long-term incentive stock plan (the "2011 plan"), which was approved by the sole stockholder of hii prior to its spin-off from northrop grumman corporation. of these shares, 27123 were stock rights granted under the 2011 plan. in addition, this number includes 28763 stock rights, 3075 restricted stock rights, and 389898 restricted performance stock rights granted under the 2012 plan, assuming target performance achievement. (2) there are no awards made under plans not approved by security holders. item 13. certain relationships and related transactions, and director independence information as to certain relationships and related transactions and director independence will be incorporated herein by reference to the proxy statement for our 2018 annual meeting of stockholders, to be filed within 120 days after the end of the company 2019s fiscal year. item 14. principal accountant fees and services information as to principal accountant fees and services will be incorporated herein by reference to the proxy statement for our 2018 annual meeting of stockholders, to be filed within 120 days after the end of the company 2019s fiscal year..
what is the number of securities to be issued upon exercise of outstanding options warrants and rights under equity compensation plans approved by security holders? 448859.0
and what is the number of securities remaining available for future issuance under those equity compensation plans? 4087587.0
what is, then, the combined total of securities between those two numbers? | 4536446.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | our debt issuances in 2014 were as follows: (in millions) type face value (e) interest rate issuance maturity euro notes (a) 20ac750 (approximately $1029) 1.875% (1.875%) march 2014 march 2021 euro notes (a) 20ac1000 (approximately $1372) 2.875% (2.875%) march 2014 march 2026 euro notes (b) 20ac500 (approximately $697) 2.875% (2.875%) may 2014 may 2029 swiss franc notes (c) chf275 (approximately $311) 0.750% (0.750%) may 2014 december 2019 swiss franc notes (b) chf250 (approximately $283) 1.625% (1.625%) may 2014 may 2024 u.s. dollar notes (d) $500 1.250% (1.250%) november 2014 november 2017 u.s. dollar notes (d) $750 3.250% (3.250%) november 2014 november 2024 u.s. dollar notes (d) $750 4.250% (4.250%) november 2014 november 2044 (a) interest on these notes is payable annually in arrears beginning in march 2015. (b) interest on these notes is payable annually in arrears beginning in may 2015. (c) interest on these notes is payable annually in arrears beginning in december 2014. (d) interest on these notes is payable semiannually in arrears beginning in may 2015. (e) u.s. dollar equivalents for foreign currency notes were calculated based on exchange rates on the date of issuance. the net proceeds from the sale of the securities listed in the table above will be used for general corporate purposes. the weighted-average time to maturity of our long-term debt was 10.8 years at the end of 2013 and 2014. 2022 off-balance sheet arrangements and aggregate contractual obligations we have no off-balance sheet arrangements, including special purpose entities, other than guarantees and contractual obligations discussed below. guarantees 2013 at december 31, 2014, we were contingently liable for $1.0 billion of guarantees of our own performance, which were primarily related to excise taxes on the shipment of our products. there is no liability in the consolidated financial statements associated with these guarantees. at december 31, 2014, our third-party guarantees were insignificant..
type | - | face value (e) | interest rate | issuance | maturity
euro notes | (a) | 20ac750 (approximately $1029) | 1.875% (1.875%) | march 2014 | march 2021
euro notes | (a) | 20ac1000 (approximately $1372) | 2.875% (2.875%) | march 2014 | march 2026
euro notes | (b) | 20ac500 (approximately $697) | 2.875% (2.875%) | may 2014 | may 2029
swiss franc notes | (c) | chf275 (approximately $311) | 0.750% (0.750%) | may 2014 | december 2019
swiss franc notes | (b) | chf250 (approximately $283) | 1.625% (1.625%) | may 2014 | may 2024
u.s. dollar notes | (d) | $500 | 1.250% (1.250%) | november 2014 | november 2017
u.s. dollar notes | (d) | $750 | 3.250% (3.250%) | november 2014 | november 2024
u.s. dollar notes | (d) | $750 | 4.250% (4.250%) | november 2014 | november 2044
our debt issuances in 2014 were as follows: (in millions) type face value (e) interest rate issuance maturity euro notes (a) 20ac750 (approximately $1029) 1.875% (1.875%) march 2014 march 2021 euro notes (a) 20ac1000 (approximately $1372) 2.875% (2.875%) march 2014 march 2026 euro notes (b) 20ac500 (approximately $697) 2.875% (2.875%) may 2014 may 2029 swiss franc notes (c) chf275 (approximately $311) 0.750% (0.750%) may 2014 december 2019 swiss franc notes (b) chf250 (approximately $283) 1.625% (1.625%) may 2014 may 2024 u.s. dollar notes (d) $500 1.250% (1.250%) november 2014 november 2017 u.s. dollar notes (d) $750 3.250% (3.250%) november 2014 november 2024 u.s. dollar notes (d) $750 4.250% (4.250%) november 2014 november 2044 (a) interest on these notes is payable annually in arrears beginning in march 2015. (b) interest on these notes is payable annually in arrears beginning in may 2015. (c) interest on these notes is payable annually in arrears beginning in december 2014. (d) interest on these notes is payable semiannually in arrears beginning in may 2015. (e) u.s. dollar equivalents for foreign currency notes were calculated based on exchange rates on the date of issuance. the net proceeds from the sale of the securities listed in the table above will be used for general corporate purposes. the weighted-average time to maturity of our long-term debt was 10.8 years at the end of 2013 and 2014. 2022 off-balance sheet arrangements and aggregate contractual obligations we have no off-balance sheet arrangements, including special purpose entities, other than guarantees and contractual obligations discussed below. guarantees 2013 at december 31, 2014, we were contingently liable for $1.0 billion of guarantees of our own performance, which were primarily related to excise taxes on the shipment of our products. there is no liability in the consolidated financial statements associated with these guarantees. at december 31, 2014, our third-party guarantees were insignificant..
what was the total of us dollar notes issued in november of 2014, in millions? | 1500.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | stockholder return performance graphs the following graph compares the cumulative 5-year total stockholder return on our common stock relative to the cumulative total return of the nasdaq composite index and the s&p 400 information technology index. the graph assumes that the value of the investment in our common stock and in each index (including reinvestment of dividends) was $100 on december 29, 2007 and tracks it through december 29, 2012. comparison of 5 year cumulative total return* among cadence design systems, inc., the nasdaq composite index, and s&p 400 information technology cadence design systems, inc. nasdaq composite s&p 400 information technology 12/29/1212/31/111/1/111/2/101/3/0912/29/07 *$100 invested on 12/29/07 in stock or 12/31/07 in index, including reinvestment of dividends. indexes calculated on month-end basis. copyright a9 2013 s&p, a division of the mcgraw-hill companies inc. all rights reserved..
- | 12/29/2007 | 1/3/2009 | 1/2/2010 | 1/1/2011 | 12/31/2011 | 12/29/2012
cadence design systems inc. | 100.00 | 22.55 | 35.17 | 48.50 | 61.07 | 78.92
nasdaq composite | 100.00 | 59.03 | 82.25 | 97.32 | 98.63 | 110.78
s&p 400 information technology | 100.00 | 54.60 | 82.76 | 108.11 | 95.48 | 109.88
the stock price performance included in this graph is not necessarily indicative of future stock price performance.
what is the value of an investment in cadence design systems inc. in 2012? 78.92
what is the net change in value? -21.08
what rate of return does this represent? -0.2108
what about the net change in value of an investment in nasdaq composite from 2007 to 2012? 10.78
what is the rate of return for nasdaq composite? | 0.1078 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | 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)
2010 | $6951
2011 | 5942
2012 | 3659
2013 | 1486
2014 | 1486
thereafter | 25048
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.
what was, in thousands, the total of purchase commitments in the years of 2010 and 2011, combined? 12893.0
and what was that total only for the year of 2013? 1486.0
what percentage did this 2013 total represent in relation to the full amount of all purchase commitments? | 0.03334 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | the table below reflects the estimated effects on pension expense of certain changes in annual assumptions, using 2012 estimated expense as a baseline. change in assumption (a) estimated increase to 2012 pension expense (in millions).
change in assumption (a) | estimatedincrease to 2012pensionexpense (in millions)
.5% (.5%) decrease in discount rate | $23
.5% (.5%) decrease in expected long-term return on assets | $18
.5% (.5%) increase in compensation rate | $2
(a) the impact is the effect of changing the specified assumption while holding all other assumptions constant. our pension plan contribution requirements are not particularly sensitive to actuarial assumptions. investment performance has the most impact on contribution requirements and will drive the amount of permitted contributions in future years. also, current law, including the provisions of the pension protection act of 2006, sets limits as to both minimum and maximum contributions to the plan. we do not expect to be required by law to make any contributions to the plan during 2012. we maintain other defined benefit plans that have a less significant effect on financial results, including various nonqualified supplemental retirement plans for certain employees. recourse and repurchase obligations as discussed in note 3 loan sale and servicing activities and variable interest entities in the notes to consolidated financial statements in item 8 of this report, pnc has sold commercial mortgage and residential mortgage loans directly or indirectly in securitizations and whole-loan sale transactions with continuing involvement. one form of continuing involvement includes certain recourse and loan repurchase obligations associated with the transferred assets in these transactions. commercial mortgage loan recourse obligations we originate, close, and service certain multi-family commercial mortgage loans which are sold to fnma under fnma 2019s delegated underwriting and servicing (dus) program. we participated in a similar program with the fhlmc. under these programs, we generally assume up to a one-third pari passu risk of loss on unpaid principal balances through a loss share arrangement. at december 31, 2011 and december 31, 2010, the unpaid principal balance outstanding of loans sold as a participant in these programs was $13.0 billion and $13.2 billion, respectively. the potential maximum exposure under the loss share arrangements was $4.0 billion at both december 31, 2011 and december 31, 2010. we maintain a reserve for estimated losses based on our exposure. the reserve for losses under these programs totaled $47 million and $54 million as of december 31, 2011 and december 31, 2010, respectively, and is included in other liabilities on our consolidated balance sheet. if payment is required under these programs, we would not have a contractual interest in the collateral underlying the mortgage loans on which losses occurred, although the value of the collateral is taken into account in determining our share of such losses. our exposure and activity associated with these recourse obligations are reported in the corporate & institutional banking segment. residential mortgage loan and home equity repurchase obligations while residential mortgage loans are sold on a non-recourse basis, we assume certain loan repurchase obligations associated with mortgage loans we have sold to investors. these loan repurchase obligations primarily relate to situations where pnc is alleged to have breached certain origination covenants and representations and warranties made to purchasers of the loans in the respective purchase and sale agreements. residential mortgage loans covered by these loan repurchase obligations include first and second-lien mortgage loans we have sold through agency securitizations, non-agency securitizations, and whole-loan sale transactions. as discussed in note 3 in the notes to consolidated financial statements in item 8 of this report, agency securitizations consist of mortgage loans sale transactions with fnma, fhlmc, and the government national mortgage association (gnma) program, while non-agency securitizations and whole-loan sale transactions consist of mortgage loans sale transactions with private investors. our historical exposure and activity associated with agency securitization repurchase obligations has primarily been related to transactions with fnma and fhlmc, as indemnification and repurchase losses associated with federal housing agency (fha) and department of veterans affairs (va) -insured and uninsured loans pooled in gnma securitizations historically have been minimal. repurchase obligation activity associated with residential mortgages is reported in the residential mortgage banking segment. pnc 2019s repurchase obligations also include certain brokered home equity loans/lines that were sold to a limited number of private investors in the financial services industry by national city prior to our acquisition. pnc is no longer engaged in the brokered home equity lending business, and our exposure under these loan repurchase obligations is limited to repurchases of the whole-loans sold in these transactions. repurchase activity associated with brokered home equity lines/loans are reported in the non-strategic assets portfolio segment. loan covenants and representations and warranties are established through loan sale agreements with various investors to provide assurance that pnc has sold loans to the pnc financial services group, inc. 2013 form 10-k 69.
what was the unpaid principal balance outstanding of loans sold as a participant in these programs in 2011, in billions? 13.0
and what was it in 2010, also in billions? 13.2
what was, then, in billions, the total unpaid principal balance outstanding in both years combined? 26.2
and what is the average between them, in billions? | 13.1 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | note 8 2014 benefit plans the company has defined benefit pension plans covering certain employees in the united states and certain international locations. postretirement healthcare and life insurance benefits provided to qualifying domestic retirees as well as other postretirement benefit plans in international countries are not material. the measurement date used for the company 2019s employee benefit plans is september 30. effective january 1, 2018, the legacy u.s. pension plan was frozen to limit the participation of employees who are hired or re-hired by the company, or who transfer employment to the company, on or after january 1, net pension cost for the years ended september 30 included the following components:.
(millions of dollars) | pension plans 2018 | pension plans 2017 | pension plans 2016
service cost | $136 | $110 | $81
interest cost | 90 | 61 | 72
expected return on plan assets | -154 (154) | -112 (112) | -109 (109)
amortization of prior service credit | -13 (13) | -14 (14) | -15 (15)
amortization of loss | 78 | 92 | 77
settlements | 2 | 2014 | 7
net pension cost | $137 | $138 | $113
net pension cost included in the preceding table that is attributable to international plans | $34 | $43 | $35
net pension cost included in the preceding table that is attributable to international plans $34 $43 $35 the amounts provided above for amortization of prior service credit and amortization of loss represent the reclassifications of prior service credits and net actuarial losses that were recognized in accumulated other comprehensive income (loss) in prior periods. the settlement losses recorded in 2018 and 2016 primarily included lump sum benefit payments associated with the company 2019s u.s. supplemental pension plan. the company recognizes pension settlements when payments from the supplemental plan exceed the sum of service and interest cost components of net periodic pension cost associated with this plan for the fiscal year..
what was the net pension cost in 2018? | 137.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | the aes corporation notes to consolidated financial statements 2014 (continued) december 31, 2017, 2016, and 2015 on december 8, 2017, the board of directors declared a quarterly common stock dividend of $0.13 per share payable on february 15, 2018 to shareholders of record at the close of business on february 1, 2018. stock repurchase program 2014 no shares were repurchased in 2017. the cumulative repurchases from the commencement of the program in july 2010 through december 31, 2017 totaled 154.3 million shares for a total cost of $1.9 billion, at an average price per share of $12.12 (including a nominal amount of commissions). as of december 31, 2017, $246 million remained available for repurchase under the program. the common stock repurchased has been classified as treasury stock and accounted for using the cost method. a total of 155924785 and 156878891 shares were held as treasury stock at december 31, 2017 and 2016, respectively. restricted stock units under the company's employee benefit plans are issued from treasury stock. the company has not retired any common stock repurchased since it began the program in july 2010. 15. segments and geographic information the segment reporting structure uses the company's organizational structure as its foundation to reflect how the company manages the businesses internally and is organized by geographic regions which provides a socio- political-economic understanding of our business. during the third quarter of 2017, the europe and asia sbus were merged in order to leverage scale and are now reported as part of the eurasia sbu. the management reporting structure is organized by five sbus led by our president and chief executive officer: us, andes, brazil, mcac and eurasia sbus. the company determined that it has five operating and five reportable segments corresponding to its sbus. all prior period results have been retrospectively revised to reflect the new segment reporting structure. in february 2018, we announced a reorganization as a part of our ongoing strategy to simplify our portfolio, optimize our cost structure, and reduce our carbon intensity. the company is currently evaluating the impact this reorganization will have on our segment reporting structure. corporate and other 2014 corporate overhead costs which are not directly associated with the operations of our five reportable segments are included in "corporate and other." also included are certain intercompany charges such as self-insurance premiums which are fully eliminated in consolidation. the company uses adjusted ptc as its primary segment performance measure. adjusted ptc, a non-gaap measure, is defined by the company as pre-tax income from continuing operations attributable to the aes corporation excluding gains or losses of the consolidated entity due to (a) unrealized gains or losses related to derivative transactions; (b) unrealized foreign currency gains or losses; (c) gains, losses and associated benefits and costs due to dispositions and acquisitions of business interests, including early plant closures; (d) losses due to impairments; (e) gains, losses and costs due to the early retirement of debt; and (f) costs directly associated with a major restructuring program, including, but not limited to, workforce reduction efforts, relocations, and office consolidation. adjusted ptc also includes net equity in earnings of affiliates on an after-tax basis adjusted for the same gains or losses excluded from consolidated entities. the company has concluded adjusted ptc better reflects the underlying business performance of the company and is the most relevant measure considered in the company's internal evaluation of the financial performance of its segments. additionally, given its large number of businesses and complexity, the company concluded that adjusted ptc is a more transparent measure that better assists investors in determining which businesses have the greatest impact on the company's results. revenue and adjusted ptc are presented before inter-segment eliminations, which includes the effect of intercompany transactions with other segments except for interest, charges for certain management fees, and the write-off of intercompany balances, as applicable. all intra-segment activity has been eliminated within the segment. inter-segment activity has been eliminated within the total consolidated results. the following tables present financial information by segment for the periods indicated (in millions):.
year ended december 31, | total revenue 2017 | total revenue 2016 | total revenue 2015
us sbu | $3229 | $3429 | $3593
andes sbu | 2710 | 2506 | 2489
brazil sbu | 542 | 450 | 962
mcac sbu | 2448 | 2172 | 2353
eurasia sbu | 1590 | 1670 | 1875
corporate and other | 35 | 77 | 31
eliminations | -24 (24) | -23 (23) | -43 (43)
total revenue | $10530 | $10281 | $11260
.
what was the total net revenue in 2017, in millions? 10530.0
and what was the net revenue only in the us segment, also in millions? 3229.0
what was, then, in millions of dollars, the total net revenue in 2017 without counting the us? | 7301.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | management 2019s discussion and analysis 78 jpmorgan chase & co./2018 form 10-k treasury and cio overview treasury and cio is predominantly responsible for measuring, monitoring, reporting and managing the firm 2019s liquidity, funding, capital, structural interest rate and foreign exchange risks. the risks managed by treasury and cio arise from the activities undertaken by the firm 2019s four major reportable business segments to serve their respective client bases, which generate both on- and off- balance sheet assets and liabilities. treasury and cio seek to achieve the firm 2019s asset-liability management objectives generally by investing in high- quality securities that are managed for the longer-term as part of the firm 2019s investment securities portfolio. treasury and cio also use derivatives to meet the firm 2019s asset- liability management objectives. for further information on derivatives, refer to note 5. in addition, treasury and cio manage the firm 2019s cash position primarily through depositing at central banks and investing in short-term instruments. for further information on liquidity and funding risk, refer to liquidity risk management on pages 95 2013100. for information on interest rate, foreign exchange and other risks, refer to market risk management on pages 124 2013131. the investment securities portfolio primarily consists of agency and nonagency mortgage-backed securities, u.s. and non-u.s. government securities, obligations of u.s. states and municipalities, other abs and corporate debt securities. at december 31, 2018, the investment securities portfolio was $260.1 billion, and the average credit rating of the securities comprising the portfolio was aa+ (based upon external ratings where available and, where not available, based primarily upon internal ratings that correspond to ratings as defined by s&p and moody 2019s). refer to note 10 for further information on the firm 2019s investment securities portfolio. selected income statement and balance sheet data as of or for the year ended december 31, (in millions) 2018 2017 2016 investment securities gains/ (losses) $(395) $(78) $132 available-for-sale (201cafs 201d) investment securities (average) 203449 219345 226892 held-to-maturity (201chtm 201d) investment securities (average) 31747 47927 51358 investment securities portfolio (average) 235197 267272 278250 afs investment securities (period-end) 228681 200247 236670 htm investment securities (period-end) 31434 47733 50168 investment securities portfolio (period 2013end) 260115 247980 286838 as permitted by the new hedge accounting guidance, the firm elected to transfer certain investment securities from htm to afs in the first quarter of 2018. for additional information, refer to notes 1 and 10..
as of or for the year ended december 31 (in millions) | 2018 | 2017 | 2016
investment securities gains/ (losses) | $-395 (395) | $-78 (78) | $132
available-for-sale (201cafs 201d) investment securities (average) | 203449 | 219345 | 226892
held-to-maturity (201chtm 201d) investment securities (average) | 31747 | 47927 | 51358
investment securities portfolio (average) | 235197 | 267272 | 278250
afs investment securities (period-end) | 228681 | 200247 | 236670
htm investment securities (period-end) | 31434 | 47733 | 50168
investment securities portfolio (period 2013end) | 260115 | 247980 | 286838
management 2019s discussion and analysis 78 jpmorgan chase & co./2018 form 10-k treasury and cio overview treasury and cio is predominantly responsible for measuring, monitoring, reporting and managing the firm 2019s liquidity, funding, capital, structural interest rate and foreign exchange risks. the risks managed by treasury and cio arise from the activities undertaken by the firm 2019s four major reportable business segments to serve their respective client bases, which generate both on- and off- balance sheet assets and liabilities. treasury and cio seek to achieve the firm 2019s asset-liability management objectives generally by investing in high- quality securities that are managed for the longer-term as part of the firm 2019s investment securities portfolio. treasury and cio also use derivatives to meet the firm 2019s asset- liability management objectives. for further information on derivatives, refer to note 5. in addition, treasury and cio manage the firm 2019s cash position primarily through depositing at central banks and investing in short-term instruments. for further information on liquidity and funding risk, refer to liquidity risk management on pages 95 2013100. for information on interest rate, foreign exchange and other risks, refer to market risk management on pages 124 2013131. the investment securities portfolio primarily consists of agency and nonagency mortgage-backed securities, u.s. and non-u.s. government securities, obligations of u.s. states and municipalities, other abs and corporate debt securities. at december 31, 2018, the investment securities portfolio was $260.1 billion, and the average credit rating of the securities comprising the portfolio was aa+ (based upon external ratings where available and, where not available, based primarily upon internal ratings that correspond to ratings as defined by s&p and moody 2019s). refer to note 10 for further information on the firm 2019s investment securities portfolio. selected income statement and balance sheet data as of or for the year ended december 31, (in millions) 2018 2017 2016 investment securities gains/ (losses) $(395) $(78) $132 available-for-sale (201cafs 201d) investment securities (average) 203449 219345 226892 held-to-maturity (201chtm 201d) investment securities (average) 31747 47927 51358 investment securities portfolio (average) 235197 267272 278250 afs investment securities (period-end) 228681 200247 236670 htm investment securities (period-end) 31434 47733 50168 investment securities portfolio (period 2013end) 260115 247980 286838 as permitted by the new hedge accounting guidance, the firm elected to transfer certain investment securities from htm to afs in the first quarter of 2018. for additional information, refer to notes 1 and 10..
what is the value of the afs investment securities in 2018? 228681.0
what is the value in 2017? 200247.0
what is the sum? 428928.0
what is the value of the afs investment securities in 2016? 236670.0
what is the total sum? 665598.0
what is that divided by 3? | 221866.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | the goldman sachs group, inc. and subsidiaries notes to consolidated financial statements in the tables above: 2030 the gross fair values exclude the effects of both counterparty netting and collateral netting, and therefore are not representative of the firm 2019s exposure. 2030 counterparty netting is reflected in each level to the extent that receivable and payable balances are netted within the same level and is included in counterparty netting in levels. where the counterparty netting is across levels, the netting is included in cross-level counterparty netting. 2030 derivative assets are shown as positive amounts and derivative liabilities are shown as negative amounts. significant unobservable inputs the table below presents the amount of level 3 assets (liabilities), and ranges, averages and medians of significant unobservable inputs used to value the firm 2019s level 3 derivatives. level 3 assets (liabilities) and range of significant unobservable inputs (average/median) as of december $in millions 2017 2016.
$in millions | level 3 assets (liabilities) and range of significant unobservable inputs (average/median) as of december 2017 | level 3 assets (liabilities) and range of significant unobservable inputs (average/median) as of december 2016
interest rates net | $-410 (410) | $-381 (381)
correlation | (10)% (%) to 95% (95%) (71%/79% (71%/79%)) | (10)% (%) to 86% (86%) (56%/60% (56%/60%))
volatility (bps) | 31 to 150 (84/78) | 31 to 151 (84/57)
credit net | $1505 | $2504
correlation | 28% (28%) to 84% (84%) (61%/60% (61%/60%)) | 35% (35%) to 91% (91%) (65%/68% (65%/68%))
credit spreads (bps) | 1 to 633 (69/42) | 1 to 993 (122/73)
upfront credit points | 0 to 97 (42/38) | 0 to 100 (43/35)
recovery rates | 22% (22%) to 73% (73%) (68%/73% (68%/73%)) | 1% (1%) to 97% (97%) (58%/70% (58%/70%))
currencies net | $-181 (181) | $3
correlation | 49% (49%) to 72% (72%) (61%/62% (61%/62%)) | 25% (25%) to 70% (70%) (50%/55% (50%/55%))
commodities net | $47 | $73
volatility | 9% (9%) to 79% (79%) (24%/24% (24%/24%)) | 13% (13%) to 68% (68%) (33%/33% (33%/33%))
natural gas spread | $(2.38) to $3.34 ($(0.22) /$(0.12)) | $(1.81) to $4.33 ($(0.14) /$(0.05))
oil spread | $(2.86) to $23.61 ($6.47/$2.35) | $(19.72) to $64.92 ($25.30/$16.43)
equities net | $-1249 (1249) | $-3416 (3416)
correlation | (36)% (%) to 94% (94%) (50%/52% (50%/52%)) | (39)% (%) to 88% (88%) (41%/41% (41%/41%))
volatility | 4% (4%) to 72% (72%) (24%/22% (24%/22%)) | 5% (5%) to 72% (72%) (24%/23% (24%/23%))
in the table above: 2030 derivative assets are shown as positive amounts and derivative liabilities are shown as negative amounts. 2030 ranges represent the significant unobservable inputs that were used in the valuation of each type of derivative. 2030 averages represent the arithmetic average of the inputs and are not weighted by the relative fair value or notional of the respective financial instruments. an average greater than the median indicates that the majority of inputs are below the average. for example, the difference between the average and the median for credit spreads and oil spread inputs indicates that the majority of the inputs fall in the lower end of the range. 2030 the ranges, averages and medians of these inputs are not representative of the appropriate inputs to use when calculating the fair value of any one derivative. for example, the highest correlation for interest rate derivatives is appropriate for valuing a specific interest rate derivative but may not be appropriate for valuing any other interest rate derivative. accordingly, the ranges of inputs do not represent uncertainty in, or possible ranges of, fair value measurements of the firm 2019s level 3 derivatives. 2030 interest rates, currencies and equities derivatives are valued using option pricing models, credit derivatives are valued using option pricing, correlation and discounted cash flow models, and commodities derivatives are valued using option pricing and discounted cash flow models. 2030 the fair value of any one instrument may be determined using multiple valuation techniques. for example, option pricing models and discounted cash flows models are typically used together to determine fair value. therefore, the level 3 balance encompasses both of these techniques. 2030 correlation within currencies and equities includes cross- product type correlation. 2030 natural gas spread represents the spread per million british thermal units of natural gas. 2030 oil spread represents the spread per barrel of oil and refined products. range of significant unobservable inputs the following is information about the ranges of significant unobservable inputs used to value the firm 2019s level 3 derivative instruments: 2030 correlation. ranges for correlation cover a variety of underliers both within one product type (e.g., equity index and equity single stock names) and across product types (e.g., correlation of an interest rate and a currency), as well as across regions. generally, cross-product type correlation inputs are used to value more complex instruments and are lower than correlation inputs on assets within the same derivative product type. 2030 volatility. ranges for volatility cover numerous underliers across a variety of markets, maturities and strike prices. for example, volatility of equity indices is generally lower than volatility of single stocks. 2030 credit spreads, upfront credit points and recovery rates. the ranges for credit spreads, upfront credit points and recovery rates cover a variety of underliers (index and single names), regions, sectors, maturities and credit qualities (high-yield and investment-grade). the broad range of this population gives rise to the width of the ranges of significant unobservable inputs. 130 goldman sachs 2017 form 10-k.
between 2016 and 2017, what was the variation in the credit net? -999.0
and what was that credit net in 2016? 2504.0
what was, then, that variation as a percent of this 2016 amount? -0.39896
and in that same period, what was that variation for the net comodities? | -26.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | pension expense.
- | 2016 | 2015 | 2014
pension expense | $68.1 | $135.6 | $135.9
special terminations settlements and curtailments (included above) | 7.3 | 35.2 | 5.8
weighted average discount rate (a) | 4.1% (4.1%) | 4.0% (4.0%) | 4.6% (4.6%)
weighted average expected rate of return on plan assets | 7.5% (7.5%) | 7.4% (7.4%) | 7.7% (7.7%)
weighted average expected rate of compensation increase | 3.5% (3.5%) | 3.5% (3.5%) | 3.9% (3.9%)
(a) effective in 2016, the company began to measure the service cost and interest cost components of pension expense by applying spot rates along the yield curve to the relevant projected cash flows, as we believe this provides a better measurement of these costs. the company has accounted for this as a change in accounting estimate and, accordingly has accounted for it on a prospective basis. this change does not affect the measurement of the total benefit obligation. 2016 vs. 2015 pension expense, excluding special items, decreased from the prior year due to the adoption of the spot rate approach which reduced service cost and interest cost, the impact from expected return on assets and demographic gains, partially offset by the impact of the adoption of new mortality tables for our major plans. special items of $7.3 included pension settlement losses of $6.4, special termination benefits of $2.0, and curtailment gains of $1.1. these resulted primarily from our recent business restructuring and cost reduction actions. 2015 vs. 2014 the decrease in pension expense, excluding special items, was due to the impact from expected return on assets, a 40 bp reduction in the weighted average compensation increase assumption, and lower service cost and interest cost. the decrease was partially offset by the impact of higher amortization of actuarial losses, which resulted primarily from a 60 bp decrease in weighted average discount rate. special items of $35.2 included pension settlement losses of $21.2, special termination benefits of $8.7, and curtailment losses of $5.3. these resulted primarily from our recent business restructuring and cost reduction actions. 2017 outlook in 2017, pension expense, excluding special items, is estimated to be approximately $70 to $75, an increase of $10 to $15 from 2016, resulting primarily from a decrease in discount rates, offset by favorable asset experience, effects of the versum spin-off and the adoption of new mortality tables. pension settlement losses of $10 to $15 are expected, dependent on the timing of retirements. in 2017, we expect pension expense to include approximately $164 for amortization of actuarial losses compared to $121 in 2016. net actuarial losses of $484 were recognized in accumulated other comprehensive income in 2016, primarily attributable to lower discount rates and improved mortality projections. actuarial gains/losses are amortized into pension expense over prospective periods to the extent they are not offset by future gains or losses. future changes in the discount rate and actual returns on plan assets different from expected returns would impact the actuarial gains/losses and resulting amortization in years beyond 2017. during the first quarter of 2017, the company expects to record a curtailment loss estimated to be $5 to $10 related to employees transferring to versum. the loss will be reflected in the results from discontinued operations on the consolidated income statements. we continue to evaluate opportunities to manage the liabilities associated with our pension plans. pension funding pension funding includes both contributions to funded plans and benefit payments for unfunded plans, which are primarily non-qualified plans. with respect to funded plans, our funding policy is that contributions, combined with appreciation and earnings, will be sufficient to pay benefits without creating unnecessary surpluses. in addition, we make contributions to satisfy all legal funding requirements while managing our capacity to benefit from tax deductions attributable to plan contributions. with the assistance of third party actuaries, we analyze the liabilities and demographics of each plan, which help guide the level of contributions. during 2016 and 2015, our cash contributions to funded plans and benefit payments for unfunded plans were $79.3 and $137.5, respectively. for 2017, cash contributions to defined benefit plans are estimated to be $65 to $85. the estimate is based on expected contributions to certain international plans and anticipated benefit payments for unfunded plans, which.
what was the net change in cash contributions to funded plans and benefit payments for unfunded plans from 2015 to 2016? | -58.2 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | 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
net mw in operation at december 31 | 3955 | 3445 | 2475
generation in gwh for the year | 29953 | 22614 | 7171
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.
what was the total of non-utility nuclear earnings by the end of 2002? 201.0
and what was it by the beginning of that year? 128.0
throughout the year, then, by how much did it increase? | 73.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | our debt issuances in 2014 were as follows: (in millions) type face value (e) interest rate issuance maturity euro notes (a) 20ac750 (approximately $1029) 1.875% (1.875%) march 2014 march 2021 euro notes (a) 20ac1000 (approximately $1372) 2.875% (2.875%) march 2014 march 2026 euro notes (b) 20ac500 (approximately $697) 2.875% (2.875%) may 2014 may 2029 swiss franc notes (c) chf275 (approximately $311) 0.750% (0.750%) may 2014 december 2019 swiss franc notes (b) chf250 (approximately $283) 1.625% (1.625%) may 2014 may 2024 u.s. dollar notes (d) $500 1.250% (1.250%) november 2014 november 2017 u.s. dollar notes (d) $750 3.250% (3.250%) november 2014 november 2024 u.s. dollar notes (d) $750 4.250% (4.250%) november 2014 november 2044 (a) interest on these notes is payable annually in arrears beginning in march 2015. (b) interest on these notes is payable annually in arrears beginning in may 2015. (c) interest on these notes is payable annually in arrears beginning in december 2014. (d) interest on these notes is payable semiannually in arrears beginning in may 2015. (e) u.s. dollar equivalents for foreign currency notes were calculated based on exchange rates on the date of issuance. the net proceeds from the sale of the securities listed in the table above will be used for general corporate purposes. the weighted-average time to maturity of our long-term debt was 10.8 years at the end of 2013 and 2014. 2022 off-balance sheet arrangements and aggregate contractual obligations we have no off-balance sheet arrangements, including special purpose entities, other than guarantees and contractual obligations discussed below. guarantees 2013 at december 31, 2014, we were contingently liable for $1.0 billion of guarantees of our own performance, which were primarily related to excise taxes on the shipment of our products. there is no liability in the consolidated financial statements associated with these guarantees. at december 31, 2014, our third-party guarantees were insignificant..
type | - | face value (e) | interest rate | issuance | maturity
euro notes | (a) | 20ac750 (approximately $1029) | 1.875% (1.875%) | march 2014 | march 2021
euro notes | (a) | 20ac1000 (approximately $1372) | 2.875% (2.875%) | march 2014 | march 2026
euro notes | (b) | 20ac500 (approximately $697) | 2.875% (2.875%) | may 2014 | may 2029
swiss franc notes | (c) | chf275 (approximately $311) | 0.750% (0.750%) | may 2014 | december 2019
swiss franc notes | (b) | chf250 (approximately $283) | 1.625% (1.625%) | may 2014 | may 2024
u.s. dollar notes | (d) | $500 | 1.250% (1.250%) | november 2014 | november 2017
u.s. dollar notes | (d) | $750 | 3.250% (3.250%) | november 2014 | november 2024
u.s. dollar notes | (d) | $750 | 4.250% (4.250%) | november 2014 | november 2044
our debt issuances in 2014 were as follows: (in millions) type face value (e) interest rate issuance maturity euro notes (a) 20ac750 (approximately $1029) 1.875% (1.875%) march 2014 march 2021 euro notes (a) 20ac1000 (approximately $1372) 2.875% (2.875%) march 2014 march 2026 euro notes (b) 20ac500 (approximately $697) 2.875% (2.875%) may 2014 may 2029 swiss franc notes (c) chf275 (approximately $311) 0.750% (0.750%) may 2014 december 2019 swiss franc notes (b) chf250 (approximately $283) 1.625% (1.625%) may 2014 may 2024 u.s. dollar notes (d) $500 1.250% (1.250%) november 2014 november 2017 u.s. dollar notes (d) $750 3.250% (3.250%) november 2014 november 2024 u.s. dollar notes (d) $750 4.250% (4.250%) november 2014 november 2044 (a) interest on these notes is payable annually in arrears beginning in march 2015. (b) interest on these notes is payable annually in arrears beginning in may 2015. (c) interest on these notes is payable annually in arrears beginning in december 2014. (d) interest on these notes is payable semiannually in arrears beginning in may 2015. (e) u.s. dollar equivalents for foreign currency notes were calculated based on exchange rates on the date of issuance. the net proceeds from the sale of the securities listed in the table above will be used for general corporate purposes. the weighted-average time to maturity of our long-term debt was 10.8 years at the end of 2013 and 2014. 2022 off-balance sheet arrangements and aggregate contractual obligations we have no off-balance sheet arrangements, including special purpose entities, other than guarantees and contractual obligations discussed below. guarantees 2013 at december 31, 2014, we were contingently liable for $1.0 billion of guarantees of our own performance, which were primarily related to excise taxes on the shipment of our products. there is no liability in the consolidated financial statements associated with these guarantees. at december 31, 2014, our third-party guarantees were insignificant..
what is the value of euro notes with march 2021 maturities? 1029.0
what is the value with march 2026 maturities? | 1372.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | 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
delphi automotive plc (1) | $100.00 | $100.98 | $179.33 | $285.81 | $350.82
s&p 500 (2) | 100.00 | 100.80 | 116.93 | 154.80 | 175.99
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..
what is the net change in value of delphi automotive plc from 2011 to 2014? 250.82
what is that divided by 100? | 2.5082 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | to, rather than as a substitute for, cash provided by operating activities. the following table reconciles cash provided by operating activities (gaap measure) to free cash flow (non-gaap measure):.
millions | 2015 | 2014 | 2013
cash provided by operating activities | $7344 | $7385 | $6823
cash used in investing activities | -4476 (4476) | -4249 (4249) | -3405 (3405)
dividends paid | -2344 (2344) | -1632 (1632) | -1333 (1333)
free cash flow | $524 | $1504 | $2085
2016 outlook f0b7 safety 2013 operating a safe railroad benefits all our constituents: our employees, customers, shareholders and the communities we serve. we will continue using a multi-faceted approach to safety, utilizing technology, risk assessment, quality control, training and employee engagement, and targeted capital investments. we will continue using and expanding the deployment of total safety culture and courage to care throughout our operations, which allows us to identify and implement best practices for employee and operational safety. we will continue our efforts to increase detection of rail defects; improve or close crossings; and educate the public and law enforcement agencies about crossing safety through a combination of our own programs (including risk assessment strategies), industry programs and local community activities across our network. f0b7 network operations 2013 in 2016, we will continue to align resources with customer demand, continue to improve network performance, and maintain our surge capability. f0b7 fuel prices 2013 with the dramatic drop in fuel prices during 2015, fuel price projections continue to be uncertain in the current environment. we again could see volatile fuel prices during the year, as they are sensitive to global and u.s. domestic demand, refining capacity, geopolitical events, weather conditions and other factors. as prices fluctuate, there will be a timing impact on earnings, as our fuel surcharge programs trail fluctuations in fuel price by approximately two months. continuing lower fuel prices could have a positive impact on the economy by increasing consumer discretionary spending that potentially could increase demand for various consumer products that we transport. alternatively, lower fuel prices will likely have a negative impact on other commodities such as coal, frac sand and crude oil shipments. f0b7 capital plan 2013 in 2016, we expect our capital plan to be approximately $3.75 billion, including expenditures for ptc, 230 locomotives and 450 freight cars. the capital plan may be revised if business conditions warrant or if new laws or regulations affect our ability to generate sufficient returns on these investments. (see further discussion in this item 7 under liquidity and capital resources 2013 capital plan.) f0b7 financial expectations 2013 economic conditions in many of our market sectors continue to drive uncertainty with respect to our volume levels. we expect volumes to be down slightly in 2016 compared to 2015, but will depend on the overall economy and market conditions. the strong u.s. dollar and historic low commodity prices could also drive continued volatility. one of the biggest uncertainties is the outlook for energy markets, which will bring both challenges and opportunities. in the current environment, we expect continued margin improvement driven by continued pricing opportunities, ongoing productivity initiatives, and the ability to leverage our resources and strengthen our franchise. over the longer term, we expect the overall u.s. economy to continue to improve at a modest pace, with some markets outperforming others..
what was the free cash flow in 2015? 524.0
and what was the cash provided by operating activities in that same year? | 7344.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | entergy texas, inc. management's financial discussion and analysis fuel and purchased power expenses increased primarily due to an increase in power purchases as a result of the purchased power agreements between entergy gulf states louisiana and entergy texas and an increase in the average market prices of purchased power and natural gas, substantially offset by a decrease in deferred fuel expense as a result of decreased recovery from customers of fuel costs. other regulatory charges increased primarily due to an increase of $6.9 million in the recovery of bond expenses related to the securitization bonds. the recovery became effective july 2007. see note 5 to the financial statements for additional information regarding the securitization bonds. 2007 compared to 2006 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 2007 to 2006. amount (in millions).
- | amount (in millions)
2006 net revenue | $403.3
purchased power capacity | 13.1
securitization transition charge | 9.9
volume/weather | 9.7
transmission revenue | 6.1
base revenue | 2.6
other | -2.4 (2.4)
2007 net revenue | $442.3
the purchased power capacity variance is due to changes in the purchased power capacity costs included in the calculation in 2007 compared to 2006 used to bill generation costs between entergy texas and entergy gulf states louisiana. the securitization transition charge variance is due to the issuance of securitization bonds. as discussed above, in june 2007, egsrf i, a company wholly-owned and consolidated by entergy texas, issued securitization bonds and with the proceeds purchased from entergy texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds. see note 5 to the financial statements herein for details of the securitization bond issuance. the volume/weather variance is due to increased electricity usage on billed retail sales, including the effects of more favorable weather in 2007 compared to the same period in 2006. the increase is also due to an increase in usage during the unbilled sales period. retail electricity usage increased a total of 139 gwh in all sectors. see "critical accounting estimates" below and note 1 to the financial statements for further discussion of the accounting for unbilled revenues. the transmission revenue variance is due to an increase in rates effective june 2007 and new transmission customers in late 2006. the base revenue variance is due to the transition to competition rider that began in march 2006. refer to note 2 to the financial statements for further discussion of the rate increase. gross operating revenues, fuel and purchased power expenses, and other regulatory charges gross operating revenues decreased primarily due to a decrease of $179 million in fuel cost recovery revenues due to lower fuel rates and fuel refunds. the decrease was partially offset by the $39 million increase in net revenue described above and an increase of $44 million in wholesale revenues, including $30 million from the system agreement cost equalization payments from entergy arkansas. the receipt of such payments is being.
what is the net revenue in 2007? 442.3
what about in 2006? | 403.3 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | reinsurance commissions, fees and other revenue decreased 2% (2%) in 2014 reflecting a 1% (1%) unfavorable impact from foreign currency exchange rates and 1% (1%) decline in organic revenue growth due primarily to a significant unfavorable market impact in treaty, partially offset by net new business growth in treaty placements globally and growth in capital markets transactions and advisory business, as well as facultative placements. operating income operating income increased $108 million, or 7% (7%), from 2013 to $1.6 billion in 2014. in 2014, operating income margins in this segment were 21.0% (21.0%), an increase of 120 basis points from 19.8% (19.8%) in 2013. operating margin improvement was driven by solid organic revenue growth, return on investments, expense discipline and savings related to the restructuring programs, partially offset by a $61 million unfavorable impact from foreign currency exchange rates. hr solutions.
years ended december 31 | 2014 | 2013 | 2012
revenue | $4264 | $4057 | $3925
operating income | 485 | 318 | 289
operating margin | 11.4% (11.4%) | 7.8% (7.8%) | 7.4% (7.4%)
our hr solutions segment generated approximately 35% (35%) of our consolidated total revenues in 2014 and provides a broad range of human capital services, as follows: 2022 retirement specializes in global actuarial services, defined contribution consulting, tax and erisa consulting, and pension administration. 2022 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. 2022 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. 2022 investment consulting advises public and private companies, other institutions and trustees on developing and maintaining investment programs across a broad range of plan types, including defined benefit plans, defined contribution plans, endowments and foundations. 2022 benefits administration applies our human resource expertise primarily through defined benefit (pension), defined contribution (401 (k)), and health and welfare administrative services. our model replaces the resource-intensive processes once required to administer benefit plans with more efficient, effective, and less costly solutions. 2022 exchanges is building and operating healthcare exchanges that provide employers with a cost effective alternative to traditional employee and retiree healthcare, while helping individuals select the insurance that best meets their needs. 2022 human resource business processing outsourcing provides market-leading solutions to manage employee data; administer benefits, payroll and other human resources processes; and record and manage talent, workforce and other core human resource process transactions as well as other complementary services such as flexible spending, dependent audit and participant advocacy. disruption in the global credit markets and the deterioration of the financial markets created significant uncertainty in the marketplace. weak economic conditions in many markets around the globe continued throughout 2014 and have adversely impacted our clients' financial condition and therefore 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 putting continued pressure on the pricing of those services, which is having an adverse effect on our new business and results of operations..
what was the operating margin in 2014? 0.114
and what was it in 2013? 0.078
what was, then, the change over the year? 0.036
and what is this change numerically, or as a percentage of one? | 3.6 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | notes to the consolidated financial statements unrealized currency translation adjustments related to translation of foreign denominated balance sheets are not presented net of tax given that no deferred u.s. income taxes have been provided on undistributed earnings of non- u.s. subsidiaries because they are deemed to be reinvested for an indefinite period of time. the tax (cost) benefit related to unrealized currency translation adjustments other than translation of foreign denominated balance sheets, for the years ended december 31, 2011, 2010 and 2009 was $(7) million, $8 million and $62 million, respectively. the tax benefit related to the adjustment for pension and other postretirement benefits for the years ended december 31, 2011, 2010 and 2009 was $98 million, $65 million and $18 million, respectively. the cumulative tax benefit related to the adjustment for pension and other postretirement benefits at december 31, 2011 and 2010 was $990 million and $889 million, respectively. the tax (cost) benefit related to the change in the unrealized gain (loss) on marketable securities for the years ended december 31, 2011, 2010 and 2009 was $(0.2) million, $0.6 million and $0.1 million, respectively. the tax benefit (cost) related to the change in the unrealized gain (loss) on derivatives for the years ended december 31, 2011, 2010 and 2009 was $19 million, $1 million and $(16) million, respectively. 18. employee savings plan ppg 2019s employee savings plan (201csavings plan 201d) covers substantially all u.s. employees. the company makes matching contributions to the savings plan based upon participants 2019 savings, subject to certain limitations. for most participants not covered by a collective bargaining agreement, company-matching contributions are established each year at the discretion of the company and are applied to a maximum of 6% (6%) of eligible participant compensation. for those participants whose employment is covered by a collective bargaining agreement, the level of company-matching contribution, if any, is determined by the relevant collective bargaining agreement. the company-matching contribution was 100% (100%) for the first two months of 2009. the company-matching contribution was suspended from march 2009 through june 2010 as a cost savings measure in recognition of the adverse impact of the global recession. effective july 1, 2010, the company match was reinstated at 50% (50%) on the first 6% (6%) of compensation contributed for most employees eligible for the company-matching contribution feature. this included the union represented employees in accordance with their collective bargaining agreements. on january 1, 2011, the company match was increased to 75% (75%) on the first 6% (6%) of compensation contributed by these eligible employees. compensation expense and cash contributions related to the company match of participant contributions to the savings plan for 2011, 2010 and 2009 totaled $26 million, $9 million and $7 million, respectively. a portion of the savings plan qualifies under the internal revenue code as an employee stock ownership plan. as a result, the tax deductible dividends on ppg shares held by the savings plan were $20 million, $24 million and $28 million for 2011, 2010 and 2009, respectively. 19. other earnings (millions) 2011 2010 2009.
(millions) | 2011 | 2010 | 2009
royalty income | 55 | 58 | 45
share of net earnings (loss) of equity affiliates (see note 5) | 37 | 45 | -5 (5)
gain on sale of assets | 12 | 8 | 36
other | 73 | 69 | 74
total | $177 | $180 | $150
total $177 $180 $150 20. stock-based compensation the company 2019s stock-based compensation includes stock options, restricted stock units (201crsus 201d) and grants of contingent shares that are earned based on achieving targeted levels of total shareholder return. all current grants of stock options, rsus and contingent shares are made under the ppg industries, inc. amended and restated omnibus incentive plan (201cppg amended omnibus plan 201d), which was amended and restated effective april 21, 2011. shares available for future grants under the ppg amended omnibus plan were 9.7 million as of december 31, 2011. total stock-based compensation cost was $36 million, $52 million and $34 million in 2011, 2010 and 2009, respectively. the total income tax benefit recognized in the accompanying consolidated statement of income related to the stock-based compensation was $13 million, $18 million and $12 million in 2011, 2010 and 2009, respectively. stock options ppg has outstanding stock option awards that have been granted under two stock option plans: the ppg industries, inc. stock plan (201cppg stock plan 201d) and the ppg amended omnibus plan. under the ppg amended omnibus plan and the ppg stock plan, certain employees of the company have been granted options to purchase shares of common stock at prices equal to the fair market value of the shares on the date the options were granted. the options are generally exercisable beginning from six to 48 months after being granted and have a maximum term of 10 years. upon exercise of a stock option, shares of company stock are issued from treasury stock. the ppg stock plan includes a restored option provision for options originally granted prior to january 1, 2003 that 68 2011 ppg annual report and form 10-k.
what was the value of stock-based compensation in 2011? | 36.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | z i m m e r h o l d i n g s, i n c. a n d s u b s i d i a r i e s 2 0 0 3 f o r m 1 0 - k notes to consolidated financial statements (continued) the unaudited pro forma results for 2003 include events or changes in circumstances indicate that the carrying $90.4 million of expense related to centerpulse hip and knee value of an asset may not be recoverable. an impairment loss litigation, $54.4 million of cash income tax benefits as a result would be recognized when estimated future cash flows of centerpulse electing to carry back its 2002 u.s. federal net relating to the asset are less than its carrying amount. operating loss for 5 years versus 10 years, which resulted in depreciation of instruments is recognized as selling, general more losses being carried forward to future years and less and administrative expense, consistent with the classification tax credits going unutilized due to the shorter carry back of instrument cost in periods prior to january 1, 2003. period and an $8.0 million gain on sale of orquest inc., an prior to january 1, 2003, undeployed instruments were investment previously held by centerpulse. the unaudited carried as a prepaid expense at cost, net of allowances for pro forma results are not necessarily indicative either of the obsolescence ($54.8 million, net, at december 31, 2002), and results of operations that actually would have resulted had recognized in selling, general and administrative expense in the exchange offers been in effect at the beginning of the the year in which the instruments were placed into service. respective years or of future results. the new method of accounting for instruments was adopted to recognize the cost of these important assets of the transfx company 2019s business within the consolidated balance sheet on june 25, 2003, the company acquired the transfx and meaningfully allocate the cost of these assets over the external fixation system product line from immedica, inc. periods benefited, typically five years. for approximately $14.8 million cash, which has been the effect of the change during the year ended allocated primarily to goodwill and technology based december 31, 2003 was to increase earnings before intangible assets. the company has sold the transfx cumulative effect of change in accounting principle by product line since early 2001 under a distribution agreement $26.8 million ($17.8 million net of tax), or $0.08 per diluted with immedica. share. the cumulative effect adjustment of $55.1 million (net of income taxes of $34.0 million) to retroactively apply the implex corp. new capitalization method as if applied in years prior to 2003 on march 2, 2004, the company entered into an is included in earnings during the year ended december 31, amended and restated merger agreement relating to the 2003. the pro forma amounts shown on the consolidated acquisition of implex corp. (2018 2018implex 2019 2019), a privately held statement of earnings have been adjusted for the effect of orthopaedics company based in new jersey, for cash. each the retroactive application on depreciation and related share of implex stock will be converted into the right to income taxes. receive cash having an aggregate value of approximately $108.0 million at closing and additional cash earn-out 5. inventories payments that are contingent on the growth of implex inventories at december 31, 2003 and 2002, consist of product sales through 2006. the net value transferred at the following (in millions): closing will be approximately $89 million, which includes.
- | 2003 | 2002
finished goods | $384.3 | $206.7
raw materials and work in progress | 90.8 | 50.9
inventory step-up | 52.6 | 2013
inventories net | $527.7 | $257.6
made by zimmer to implex pursuant to their existing alliance raw materials and work in progress 90.8 50.9 arrangement, escrow and other items. the acquisition will be inventory step-up 52.6 2013 accounted for under the purchase method of accounting. inventories, net $527.7 $257.6 reserves for obsolete and slow-moving inventory at4. change in accounting principle december 31, 2003 and 2002 were $47.4 million and instruments are hand held devices used by orthopaedic $45.5 million, respectively. provisions charged to expense surgeons during total joint replacement and other surgical were $11.6 million, $6.0 million and $11.9 million for the procedures. effective january 1, 2003, instruments are years ended december 31, 2003, 2002 and 2001, respectively. recognized as long-lived assets and are included in property, amounts written off against the reserve were $11.7 million, plant and equipment. undeployed instruments are carried at $7.1 million and $8.5 million for the years ended cost, net of allowances for obsolescence. instruments in the december 31, 2003, 2002 and 2001, respectively. field are carried at cost less accumulated depreciation. following the acquisition of centerpulse, the company depreciation is computed using the straight-line method established a common approach for estimating excess based on average estimated useful lives, determined inventory and instruments. this change in estimate resulted principally in reference to associated product life cycles, in a charge to earnings of $3.0 million after tax in the fourth primarily five years. in accordance with sfas no. 144, the quarter. company reviews instruments for impairment whenever.
what were net inventories in 2003? 527.7
what were they in 2002? | 257.6 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | 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
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
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..
what was the change in the total debt from 2014 to 2015? -1.0
and what was that total debt in 2014? 29.5
what percentage, then, did that change represent in relation to this 2014 amount? | -0.0339 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | 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
balance at january 1 | $349 | $307 | $285
additions for tax positions of prior years | 4 | 22 | 10
reductions for tax positions of prior years | -1 (1) | -1 (1) | -17 (17)
additions based on tax positions related to current year | 69 | 46 | 35
lapse of statute of limitations | 2014 | 2014 | -8 (8)
settlements | -29 (29) | -25 (25) | -2 (2)
positions assumed in acquisitions | 12 | 2014 | 4
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..
what was the change in the balance from the start of 2010 to the end of 2012? 119.0
and what was the increase in 2010 on the positions assumed in acquisitions? | 4.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | 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
quarter ended march 31 | $42.72 | $32.10
quarter ended june 30 | 46.10 | 38.53
quarter ended september 30 | 43.43 | 31.89
quarter ended december 31 | 37.28 | 19.35
2007 | high | low
quarter ended march 31 | $41.31 | $36.63
quarter ended june 30 | 43.84 | 37.64
quarter ended september 30 | 45.45 | 36.34
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..
what was the highest price of the company's share price for the quarter ended march 31, 2008? 42.72
what was the lowest price? 32.1
what is the net difference? 10.62
what was the low price? 32.1
what is the net difference over the low price? | 0.33084 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | 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
commitments to extend credit | - | -
total commercial lending | $120165 | $112125
home equity lines of credit | 16944 | 17852
credit card | 27100 | 24911
other | 5069 | 4753
total commitments to extend credit | 169278 | 159641
net outstanding standby letters of credit (a) | 8655 | 8651
reinsurance agreements (b) | 1549 | 1654
standby bond purchase agreements (c) | 1000 | 843
other commitments (d) | 1130 | 1732
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..
what is the net change in total commitments to extend credit and other commitments from 2017 to 2018? 9091.0
what is the value in 2017? | 172521.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | 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
cadence design systems inc. | $100.00 | $135.18 | $149.39 | $181.05 | $300.22 | $311.13
nasdaq composite | 100.00 | 112.60 | 113.64 | 133.19 | 172.11 | 165.84
s&p 500 | 100.00 | 110.28 | 109.54 | 129.05 | 157.22 | 150.33
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..
what is the value of cadence design system in 2018 less an initial investment of $100? 211.13
what is that divided by 100? 2.1113
what is the value of the nasdaq composite in 2018 less 100? 65.84
what is that divided by 100? | 0.6584 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | during 2015, $82 million of provision recapture was recorded for purchased impaired loans compared to $91 million of provision recapture during 2014. charge-offs (which were specifically for commercial loans greater than a defined threshold) during 2015 were $12 million compared to $42 million during 2014. at december 31, 2015 and december 31, 2014, the alll on total purchased impaired loans was $.3 billion and $.9 billion, respectively. the decline in alll was primarily due to the change in our derecognition policy. for purchased impaired loan pools where an allowance has been recognized, subsequent increases in the net present value of cash flows will result in a provision recapture of any previously recorded alll to the extent applicable, and/or a reclassification from non-accretable difference to accretable yield, which will be recognized prospectively. individual loan transactions where final dispositions have occurred (as noted above) result in removal of the loans from their applicable pools for cash flow estimation purposes. the cash flow re- estimation process is completed quarterly to evaluate the appropriateness of the alll associated with the purchased impaired loans. activity for the accretable yield during 2015 and 2014 follows: table 66: purchased impaired loans 2013 accretable yield.
in millions | 2015 | 2014
january 1 | $1558 | $2055
accretion (including excess cash recoveries) | -466 (466) | -587 (587)
net reclassifications to accretable from non-accretable | 226 | 208
disposals | -68 (68) | -118 (118)
december 31 | $1250 | $1558
note 5 allowances for loan and lease losses and unfunded loan commitments and letters of credit allowance for loan and lease losses we maintain the alll at levels that we believe to be appropriate to absorb estimated probable credit losses incurred in the portfolios as of the balance sheet date. we use the two main portfolio segments 2013 commercial lending and consumer lending 2013 and develop and document the alll under separate methodologies for each of these segments as discussed in note 1 accounting policies. a rollforward of the alll and associated loan data follows. the pnc financial services group, inc. 2013 form 10-k 141.
what was the net change on all total purchased impaired loans between 12/31/15 and 12/31/14? -0.6
what was the total provision recapture for purchased impaired loans between 2014 and 2015? 173.0
so what was the average during this time? | 86.5 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | use of estimates the preparation of the financial statements requires management to make a number of estimates and assumptions that affect the reported amount of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. actual results could differ from those estimates. (3) significant acquisitions and dispositions acquisitions we acquired total income producing real estate related assets of $219.9 million, $948.4 million and $295.6 million in 2007, 2006 and 2005, respectively. in december 2007, in order to further establish our property positions around strategic port locations, we purchased a portfolio of five industrial buildings, in seattle, virginia and houston, as well as approximately 161 acres of undeveloped land and a 12-acre container storage facility in houston. the total price was $89.7 million and was financed in part through assumption of secured debt that had a fair value of $34.3 million. of the total purchase price, $66.1 million was allocated to in-service real estate assets, $20.0 million was allocated to undeveloped land and the container storage facility, $3.3 million was allocated to lease related intangible assets, and the remaining amount was allocated to acquired working capital related assets and liabilities. this allocation of purchase price based on the fair value of assets acquired is preliminary. the results of operations for the acquired properties since the date of acquisition have been included in continuing rental operations in our consolidated financial statements. in february 2007, we completed the acquisition of bremner healthcare real estate (201cbremner 201d), a national health care development and management firm. the primary reason for the acquisition was to expand our development capabilities within the health care real estate market. the initial consideration paid to the sellers totaled $47.1 million, and the sellers may be eligible for further contingent payments over the next three years. approximately $39.0 million of the total purchase price was allocated to goodwill, which is attributable to the value of bremner 2019s overall development capabilities and its in-place workforce. the results of operations for bremner since the date of acquisition have been included in continuing operations in our consolidated financial statements. in february 2006, we acquired the majority of a washington, d.c. metropolitan area portfolio of suburban office and light industrial properties (the 201cmark winkler portfolio 201d). the assets acquired for a purchase price of approximately $867.6 million are comprised of 32 in-service properties with approximately 2.9 million square feet for rental, 166 acres of undeveloped land, as well as certain related assets of the mark winkler company, a real estate management company. the acquisition was financed primarily through assumed mortgage loans and new borrowings. the assets acquired and liabilities assumed were recorded at their estimated fair value at the date of acquisition, as summarized below (in thousands):.
operating rental properties | $602011
land held for development | 154300
total real estate investments | 756311
other assets | 10478
lease related intangible assets | 86047
goodwill | 14722
total assets acquired | 867558
debt assumed | -148527 (148527)
other liabilities assumed | -5829 (5829)
purchase price net of assumed liabilities | $713202
purchase price, net of assumed liabilities $713202.
what was the value of liabilities assumed? | 5829.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | 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
beginning balance | $172945 | $178413
gross increases in unrecognized tax benefits 2013 prior year tax positions | 16191 | 3680
gross decreases in unrecognized tax benefits 2013 prior year tax positions | -4000 (4000) | -30166 (30166)
gross increases in unrecognized tax benefits 2013 current year tax positions | 60721 | 24927
settlements with taxing authorities | 2014 | -3876 (3876)
lapse of statute of limitations | -45922 (45922) | -8819 (8819)
foreign exchange gains and losses | -3783 (3783) | 8786
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..
between the years of 2017 and 2018, what was the variation observed in the total gross amount of unrecognized tax benefits? 23207.0
and what was that total gross amount in 2017? 172945.0
what percentage, then, of this amount did that variation represent? 0.13419
and concerning the valuation allowance in that last year, what was its change in the fiscal period? | 80.9 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | devon energy corporation and subsidiaries notes to consolidated financial statements 2013 (continued) asset divestitures in conjunction with the asset divestitures in 2013 and 2014, devon removed $26 million and $706 million of goodwill, respectively, which were allocated to these assets. impairment devon 2019s canadian goodwill was originally recognized in 2001 as a result of a business combination consisting almost entirely of conventional gas assets that devon no longer owns. as a result of performing the goodwill impairment test described in note 1, devon concluded the implied fair value of its canadian goodwill was zero as of december 31, 2014. this conclusion was largely based on the significant decline in benchmark oil prices, particularly after opec 2019s decision not to reduce its production targets that was announced in late november 2014. consequently, in the fourth quarter of 2014, devon wrote off its remaining canadian goodwill and recognized a $1.9 billion impairment. other intangible assets as of december 31, 2014, intangible assets associated with customer relationships had a gross carrying amount of $569 million and $36 million of accumulated amortization. the weighted-average amortization period for the customer relationships is 13.7 years. amortization expense for intangibles was approximately $36 million for the year ended december 31, 2014. other intangible assets are reported in other long-term assets in the accompanying consolidated balance sheets. the following table summarizes the estimated aggregate amortization expense for the next five years. year amortization amount (in millions).
year | amortization amount (in millions)
2015 | $45
2016 | $45
2017 | $45
2018 | $45
2019 | $44
.
what was the total amortization amount in the years of 2015 to 2018? 180.0
including 2019, what becomes this total? | 224.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | when we purchase an asset, we capitalize all costs necessary to make the asset ready for its intended use. however, many of our assets are self-constructed. a large portion of our capital expenditures is for track structure expansion (capacity projects) and replacement (program projects), which is typically performed by our employees. approximately 13% (13%) of our full-time equivalent employees are dedicated to the construction of capital assets. costs that are directly attributable or overhead costs that relate directly to capital projects are capitalized. direct costs that are capitalized as part of self-constructed assets include material, labor, and work equipment. indirect costs are capitalized if they clearly relate to the construction of the asset. these costs are allocated using appropriate statistical bases. the capitalization of indirect costs is consistent with fasb statement no. 67, accounting for costs and initial rental operations of real estate projects. general and administrative expenditures are expensed as incurred. normal repairs and maintenance are also expensed as incurred, while costs incurred that extend the useful life of an asset, improve the safety of our operations or improve operating efficiency are capitalized. assets held under capital leases are recorded at the lower of the net present value of the minimum lease payments or the fair value of the leased asset at the inception of the lease. amortization expense is computed using the straight-line method over the shorter of the estimated useful lives of the assets or the period of the related lease. 10. accounts payable and other current liabilities dec. 31, dec. 31, millions of dollars 2008 2007.
millions of dollars | dec. 31 2008 | dec. 31 2007
accounts payable | $629 | $732
accrued wages and vacation | 367 | 394
accrued casualty costs | 390 | 371
income and other taxes | 207 | 343
dividends and interest | 328 | 284
equipment rents payable | 93 | 103
other | 546 | 675
total accounts payable and other current liabilities | $2560 | $2902
11. fair value measurements during the first quarter of 2008, we fully adopted fasb statement no. 157, fair value measurements (fas 157). fas 157 established a framework for measuring fair value and expanded disclosures about fair value measurements. the adoption of fas 157 had no impact on our financial position or results of operations. fas 157 applies to all assets and liabilities that are measured and reported on a fair value basis. this enables the reader of the financial statements to assess the inputs used to develop those measurements by establishing a hierarchy for ranking the quality and reliability of the information used to determine fair values. the statement requires that each asset and liability carried at fair value be classified into one of the following categories: level 1: quoted market prices in active markets for identical assets or liabilities. level 2: observable market based inputs or unobservable inputs that are corroborated by market data. level 3: unobservable inputs that are not corroborated by market data..
what was the equipment rents payable in 2008? 93.0
and in 2007? | 103.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | the acquisition date is on or after the beginning of the first annual reporting period beginning on or after december 15, 2008. we will evaluate how the new requirements of statement no. 141 (r) would impact any business combinations completed in 2009 or thereafter. in december 2007, the fasb also issued statement of financial accounting standards no. 160, noncontrolling interests in consolidated financial statements 2014an amendment of accounting research bulletin no. 51. a noncontrolling interest, sometimes called a minority interest, is the portion of equity in a subsidiary not attributable, directly or indirectly, to a parent. statement no. 160 establishes accounting and reporting standards for the noncontrolling interest in a subsidiary and for the deconsolidation of a subsidiary. under statement no. 160, noncontrolling interests in a subsidiary must be reported as a component of consolidated equity separate from the parent 2019s equity. additionally, the amounts of consolidated net income attributable to both the parent and the noncontrolling interest must be reported separately on the face of the income statement. statement no. 160 is effective for fiscal years beginning on or after december 15, 2008 and earlier adoption is prohibited. we do not expect the adoption of statement no. 160 to have a material impact on our financial statements and related disclosures. 2008 estimates the forward-looking statements provided in this discussion are based on our examination of historical operating trends, the information that was used to prepare the december 31, 2007 reserve reports and other data in our possession or available from third parties. these forward-looking statements were prepared assuming demand, curtailment, producibility and general market conditions for our oil, natural gas and ngls during 2008 will be substantially similar to those of 2007, unless otherwise noted. we make reference to the 201cdisclosure regarding forward-looking statements 201d at the beginning of this report. amounts related to canadian operations have been converted to u.s. dollars using a projected average 2008 exchange rate of $0.98 u.s. dollar to $1.00 canadian dollar. in january 2007, we announced our intent to divest our west african oil and gas assets and terminate our operations in west africa, including equatorial guinea, cote d 2019ivoire, gabon and other countries in the region. in november 2007, we announced an agreement to sell our operations in gabon for $205.5 million. we are finalizing purchase and sales agreements and obtaining the necessary partner and government approvals for the remaining properties in this divestiture package. we are optimistic we can complete these sales during the first half of 2008. all west african related revenues, expenses and capital will be reported as discontinued operations in our 2008 financial statements. accordingly, all forward-looking estimates in the following discussion exclude amounts related to our operations in west africa, unless otherwise noted. though we have completed several major property acquisitions and dispositions in recent years, these transactions are opportunity driven. thus, the following forward-looking estimates do not include any financial and operating effects of potential property acquisitions or divestitures that may occur during 2008, except for west africa as previously discussed. oil, gas and ngl production set forth below are our estimates of oil, gas and ngl production for 2008. we estimate that our combined 2008 oil, gas and ngl production will total approximately 240 to 247 mmboe. of this total, approximately 92% (92%) is estimated to be produced from reserves classified as 201cproved 201d at december 31, 2007. the following estimates for oil, gas and ngl production are calculated at the midpoint of the estimated range for total production. oil gas ngls total (mmbbls) (bcf) (mmbbls) (mmboe).
- | oil (mmbbls) | gas (bcf) | ngls (mmbbls) | total (mmboe)
u.s. onshore | 12 | 626 | 23 | 140
u.s. offshore | 8 | 68 | 1 | 20
canada | 23 | 198 | 4 | 60
international | 23 | 2 | 2014 | 23
total | 66 | 894 | 28 | 243
.
what is the amount of oil and gas mmboe from canada divided by the total? 0.24691
what is that times 100? | 24.69136 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | net revenues include $3.8 billion in 2017 and $739 million in 2016 related to the sale of rrps, mainly driven by japan. these net revenue amounts include excise taxes billed to customers. excluding excise taxes, net revenues for rrps were $3.6 billion in 2017 and $733 million in 2016. in some jurisdictions, including japan, we are not responsible for collecting excise taxes. in 2017, approximately $0.9 billion of our $3.6 billion in rrp net revenues, excluding excise taxes, were from iqos devices and accessories. excise taxes on products increased by $1.1 billion, due to: 2022 higher excise taxes resulting from changes in retail prices and tax rates ($4.6 billion), partially offset by 2022 favorable currency ($1.9 billion) and 2022 lower excise taxes resulting from volume/mix ($1.6 billion). our cost of sales; marketing, administration and research costs; and operating income were as follows: for the years ended december 31, variance.
(in millions) | for the years ended december 31, 2017 | for the years ended december 31, 2016 | for the years ended december 31, $|% (%)
cost of sales | $10432 | $9391 | $1041 | 11.1% (11.1%)
marketing administration and research costs | 6725 | 6405 | 320 | 5.0% (5.0%)
operating income | 11503 | 10815 | 688 | 6.4% (6.4%)
cost of sales increased by $1.0 billion, due to: 2022 higher cost of sales resulting from volume/mix ($1.1 billion), partly offset by 2022 lower manufacturing costs ($36 million) and 2022 favorable currency ($30 million). marketing, administration and research costs increased by $320 million, due to: 2022 higher expenses ($570 million, largely reflecting increased investment behind reduced-risk products, predominately in the european union and asia), partly offset by 2022 favorable currency ($250 million). operating income increased by $688 million, due primarily to: 2022 price increases ($1.4 billion), partly offset by 2022 higher marketing, administration and research costs ($570 million) and 2022 unfavorable currency ($157 million). interest expense, net, of $914 million increased by $23 million, due primarily to unfavorably currency and higher average debt levels, partly offset by higher interest income. our effective tax rate increased by 12.8 percentage points to 40.7% (40.7%). the 2017 effective tax rate was unfavorably impacted by $1.6 billion due to the tax cuts and jobs act. for further details, see item 8, note 11. income taxes to our consolidated financial statements. we are continuing to evaluate the impact that the tax cuts and jobs act will have on our tax liability. based upon our current interpretation of the tax cuts and jobs act, we estimate that our 2018 effective tax rate will be approximately 28% (28%), subject to future regulatory developments and earnings mix by taxing jurisdiction. we are regularly examined by tax authorities around the world, and we are currently under examination in a number of jurisdictions. it is reasonably possible that within the next 12 months certain tax examinations will close, which could result in a change in unrecognized tax benefits along with related interest and penalties. an estimate of any possible change cannot be made at this time. net earnings attributable to pmi of $6.0 billion decreased by $932 million (13.4% (13.4%)). this decrease was due primarily to a higher effective tax rate as discussed above, partly offset by higher operating income. diluted and basic eps of $3.88 decreased by 13.4% (13.4%). excluding.
what was, in millions, the operating income in 2017? 11503.0
and what was it in 2016? 10815.0
what was, then, the change over the year, in millions? | 688.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | 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
accounts payable | $819 | $677
income and other taxes | 482 | 337
accrued wages and vacation | 363 | 357
dividends payable | 284 | 183
accrued casualty costs | 249 | 325
interest payable | 197 | 200
equipment rents payable | 90 | 86
other | 624 | 548
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.
what was the total expense for repairs and maintenance incurred in 2011? 2200.0
and what were the accrued casualty costs during 2010? 325.0
assuming these accrued casualty costs were completely repaired in the following year, what then becomes that 2011 total expense? | 2525.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | the following table shows the impact of catastrophe losses and related reinstatement premiums and the impact of prior period development on our consolidated loss and loss expense ratio for the periods indicated..
- | 2010 | 2009 | 2008
loss and loss expense ratio as reported | 59.2% (59.2%) | 58.8% (58.8%) | 60.6% (60.6%)
catastrophe losses and related reinstatement premiums | (3.2)% (%) | (1.2)% (%) | (4.7)% (%)
prior period development | 4.6% (4.6%) | 4.9% (4.9%) | 6.8% (6.8%)
large assumed loss portfolio transfers | (0.3)% (%) | (0.8)% (%) | 0.0% (0.0%)
loss and loss expense ratio adjusted | 60.3% (60.3%) | 61.7% (61.7%) | 62.7% (62.7%)
we recorded net pre-tax catastrophe losses of $366 million in 2010 compared with net pre-tax catastrophe losses of $137 million and $567 million in 2009 and 2008, respectively. the catastrophe losses for 2010 were primarily related to weather- related events in the u.s., earthquakes in chile, mexico, and new zealand, and storms in australia and europe. the catastrophe losses for 2009 were primarily related to an earthquake in asia, floods in europe, several weather-related events in the u.s., and a european windstorm. for 2008, the catastrophe losses were primarily related to hurricanes gustav and ike. prior period development arises from changes to loss estimates recognized in the current year that relate to loss reserves first reported in previous calendar years and excludes the effect of losses from the development of earned premium from pre- vious accident years. we experienced $503 million of net favorable prior period development in our p&c segments in 2010. this compares with net favorable prior period development in our p&c segments of $576 million and $814 million in 2009 and 2008, respectively. refer to 201cprior period development 201d for more information. the adjusted loss and loss expense ratio declined in 2010, compared with 2009, primarily due to the impact of the crop settlements, non-recurring premium adjustment and the reduction in assumed loss portfolio business, which is written at higher loss ratios than other types of business. our policy acquisition costs include commissions, premium taxes, underwriting, and other costs that vary with, and are primarily related to, the production of premium. administrative expenses include all other operating costs. our policy acquis- ition cost ratio increased in 2010, compared with 2009. the increase was primarily related to the impact of crop settlements, which generated higher profit-share commissions and a lower adjustment to net premiums earned, as well as the impact of reinstatement premiums expensed in connection with catastrophe activity and changes in business mix. our administrative expense ratio increased in 2010, primarily due to the impact of the crop settlements, reinstatement premiums expensed, and increased costs in our international operations. although the crop settlements generate minimal administrative expenses, they resulted in lower adjustment to net premiums earned in 2010, compared with 2009. administrative expenses in 2010, were partially offset by higher net results generated by our third party claims administration business, esis, the results of which are included within our administrative expenses. esis generated $85 million in net results in 2010, compared with $26 million in 2009. the increase is primarily from non-recurring sources. our policy acquisition cost ratio was stable in 2009, compared with 2008, as increases in our combined insurance operations were offset by more favorable final crop year settlement of profit share commissions. administrative expenses increased in 2009, primarily due to the inclusion of administrative expenses related to combined insurance for the full year and costs associated with new product expansion in our domestic retail operation and in our personal lines business. our effective income tax rate, which we calculate as income tax expense divided by income before income tax, is depend- ent upon the mix of earnings from different jurisdictions with various tax rates. a change in the geographic mix of earnings would change the effective income tax rate. our effective income tax rate was 15 percent in 2010, compared with 17 percent and 24 percent in 2009 and 2008, respectively. the decrease in our effective income tax rate in 2010, was primarily due to a change in the mix of earnings to lower tax-paying jurisdictions, a decrease in the amount of unrecognized tax benefits which was the result of a settlement with the u.s. internal revenue service appeals division regarding federal tax returns for the years 2002-2004, and the recognition of a non-taxable gain related to the acquisition of rain and hail. the 2009 year included a reduction of a deferred tax valuation allowance related to investments. for 2008, our effective income tax rate was adversely impacted by a change in mix of earnings due to the impact of catastrophe losses in lower tax-paying jurisdictions. prior period development the favorable prior period development, inclusive of the life segment, of $512 million during 2010 was the net result of sev- eral underlying favorable and adverse movements. with respect to ace 2019s crop business, ace regularly receives reports from its managing general agent (mga) relating to the previous crop year (s) in subsequent calendar quarters and this typically results.
what was the net favorable prior period development in 2010? | 503.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | entergy corporation and subsidiaries notes to financial statements (a) consists of pollution control revenue bonds and environmental revenue bonds, some of which are secured by collateral first mortgage bonds. (b) these notes do not have a stated interest rate, but have an implicit interest rate of 4.8% (4.8%). (c) pursuant to the nuclear waste policy act of 1982, entergy 2019s nuclear owner/licensee subsidiaries have contracts with the doe for spent nuclear fuel disposal service. the contracts include a one-time fee for generation prior to april 7, 1983. entergy arkansas is the only entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term (d) see note 10 to the financial statements for further discussion of the waterford 3 and grand gulf lease obligations. (e) the fair value excludes lease obligations of $149 million at entergy louisiana and $97 million at system energy, long-term doe obligations of $181 million at entergy arkansas, and the note payable to nypa of $95 million at entergy, and includes debt due within one year. fair values are classified as level 2 in the fair value hierarchy discussed in note 16 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. the annual long-term debt maturities (excluding lease obligations and long-term doe obligations) for debt outstanding as of december 31, 2013, for the next five years are as follows: amount (in thousands).
- | amount (in thousands)
2014 | $385373
2015 | $1110566
2016 | $270852
2017 | $766801
2018 | $1324616
in november 2000, entergy 2019s non-utility nuclear business purchased the fitzpatrick and indian point 3 power plants in a seller-financed transaction. entergy issued notes to nypa with seven annual installments of approximately $108 million commencing one year from the date of the closing, and eight annual installments of $20 million commencing eight years from the date of the closing. these notes do not have a stated interest rate, but have an implicit interest rate of 4.8% (4.8%). in accordance with the purchase agreement with nypa, the purchase of indian point 2 in 2001 resulted in entergy becoming liable to nypa for an additional $10 million per year for 10 years, beginning in september 2003. this liability was recorded upon the purchase of indian point 2 in september 2001. in july 2003 a payment of $102 million was made prior to maturity on the note payable to nypa. under a provision in a letter of credit supporting these notes, if certain of the utility operating companies or system energy were to default on other indebtedness, entergy could be required to post collateral to support the letter of credit. entergy gulf states louisiana, entergy louisiana, entergy mississippi, entergy texas, and system energy have obtained long-term financing authorizations from the ferc that extend through october 2015. entergy arkansas has obtained long-term financing authorization from the apsc that extends through december 2015. entergy new orleans has obtained long-term financing authorization from the city council that extends through july 2014. capital funds agreement pursuant to an agreement with certain creditors, entergy corporation has agreed to supply system energy with sufficient capital to: 2022 maintain system energy 2019s equity capital at a minimum of 35% (35%) of its total capitalization (excluding short- term debt);.
what are the annual long-term obligations in 2014? | 385373.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | 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)
2015 net revenue | $1666
nuclear realized price changes | -149 (149)
rhode island state energy center | -44 (44)
nuclear volume | -36 (36)
fitzpatrick reimbursement agreement | 41
nuclear fuel expenses | 68
other | -4 (4)
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.
what was the 2016 net revenue? 1542.0
what was the 2015 net revenue? 1666.0
what is the 2016 less the 2015 values? | -124.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | 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
beginning balance | $172945 | $178413
gross increases in unrecognized tax benefits 2013 prior year tax positions | 16191 | 3680
gross decreases in unrecognized tax benefits 2013 prior year tax positions | -4000 (4000) | -30166 (30166)
gross increases in unrecognized tax benefits 2013 current year tax positions | 60721 | 24927
settlements with taxing authorities | 2014 | -3876 (3876)
lapse of statute of limitations | -45922 (45922) | -8819 (8819)
foreign exchange gains and losses | -3783 (3783) | 8786
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..
what was the total gross amount of unrecognized tax benefits in 2018? 196152.0
what was the value in 2017? | 172945.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | 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
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
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..
what was the net change in total debt from 2014 to 2015? -1.0
what was the value in 2014? | 29.5 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | alexion pharmaceuticals, inc. notes to consolidated financial statements 2014 (continued) for the years ended december 31, 2007 and 2006, five month period ended december 31, 2005, and year ended july 31, 2005 (amounts in thousands, except share and per share amounts) aggregate future minimum annual rental payments for the next five years and thereafter under non-cancellable operating leases (including facilities and equipment) as of december 31, 2007 are:.
2008 | $4935
2009 | 3144
2010 | 3160
2011 | 3200
2012 | 2768
thereafter | 9934
9. commitments and contingencies legal proceedings on march 16, 2007, pdl biopharma, inc., or pdl, filed a civil action against alexion in the u.s. district court for the district of delaware. pdl claims willful infringement by alexion of pdl patents due to sales of soliris. pdl seeks unspecified damages, but no less than a reasonable royalty, plus attorney 2019s fees. alexion has denied pdl's claims. in addition, we filed counterclaims seeking declarations of non-infringement and invalidity of certain u.s. patents held by pdl. alexion believes it has good and valid defenses to pdl's claims and intends to vigorously defend the case and pursue its counterclaims. on february 4, 2008, sb2, inc. filed a civil action against alexion in the united states district court for the northern district of california. sb2, inc. claims willfull infringement by alexion of sb2, inc. patents due to sales of soliris. sb2, inc. seeks unspecified monetary damages, equitable relief and attorneys fees. alexion believes it has good and valid defenses to sb2's claims and intends to vigorously defend the case and pursue its counterclaims. the results of such civil actions cannot be predicted with certainty due to their early stages. however, depending on the outcome of these legal matters, the operating results of the company could be materially impacted through adjustments to cost of sales (see notes 2, 6 and 15 for additional information related to royalties). product supply the large-scale product supply agreement dated december 18, 2002, or the lonza agreement, between lonza sales ag, or lonza, and us, relating to the manufacture of soliris, was amended in june 2007. we amended our supply agreement to provide for additional purchase commitments of soliris of $30000 to $35000 through 2013. such commitments may only be cancelled in limited circumstances..
what was the minimum annual rental payment in 2011? 3200.0
what was it in 2010? | 3160.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | 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)
october 1 to october 28 2007 | 705292 | $53.53 | 705292 | 4904824
october 29 to november 25 2007 | 431170 | $48.11 | 431170 | 4473654
november 26 to december 31 2007 | 8310 (c) | $44.99 | 8310 | 4465344
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..
what was the total amount of cash outflow used for shares repurchased during november 2007, in millions of dollars? 20743588.7
and how much is that in dollars? | 20.74359 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | jpmorgan chase & co./2007 annual report 31 the following section provides a comparative discussion of jpmorgan chase 2019s consolidated results of operations on a reported basis for the three-year period ended december 31, 2007. factors that relate primarily to a single business segment are discussed in more detail within that business segment than they are in this consolidated sec- tion. for a discussion of the critical accounting estimates used by the firm that affect the consolidated results of operations, see pages 96 201398 of this annual report. revenue.
year ended december 31 (in millions) | 2007 | 2006 | 2005
investment banking fees | $6635 | $5520 | $4088
principal transactions | 9015 | 10778 | 8072
lending & deposit-related fees | 3938 | 3468 | 3389
asset management administration and commissions | 14356 | 11855 | 9988
securities gains (losses) | 164 | -543 (543) | -1336 (1336)
mortgage fees and related income | 2118 | 591 | 1054
credit card income | 6911 | 6913 | 6754
other income | 1829 | 2175 | 2684
noninterest revenue | 44966 | 40757 | 34693
net interest income | 26406 | 21242 | 19555
total net revenue | $71372 | $61999 | $54248
2007 compared with 2006 total net revenue of $71.4 billion was up $9.4 billion, or 15% (15%), from the prior year. higher net interest income, very strong private equity gains, record asset management, administration and commissions revenue, higher mortgage fees and related income and record investment banking fees contributed to the revenue growth. these increases were offset partially by lower trading revenue. investment banking fees grew in 2007 to a level higher than the pre- vious record set in 2006. record advisory and equity underwriting fees drove the results, partially offset by lower debt underwriting fees. for a further discussion of investment banking fees, which are primarily recorded in ib, see the ib segment results on pages 40 201342 of this annual report. principal transactions revenue consists of trading revenue and private equity gains. trading revenue declined significantly from the 2006 level, primarily due to markdowns in ib of $1.4 billion (net of hedges) on subprime positions, including subprime cdos, and $1.3 billion (net of fees) on leveraged lending funded loans and unfunded commitments. also in ib, markdowns in securitized products on nonsubprime mortgages and weak credit trading performance more than offset record revenue in currencies and strong revenue in both rates and equities. equities benefited from strong client activity and record trading results across all products. ib 2019s credit portfolio results increased compared with the prior year, primarily driven by higher revenue from risk management activities. the increase in private equity gains from 2006 reflected a significantly higher level of gains, the classification of certain private equity carried interest as compensation expense and a fair value adjustment in the first quarter of 2007 on nonpublic private equity investments resulting from the adoption of sfas 157 (201cfair value measurements 201d). for a further discussion of principal transactions revenue, see the ib and corporate segment results on pages 40 201342 and 59 201360, respectively, and note 6 on page 122 of this annual report. lending & deposit-related fees rose from the 2006 level, driven pri- marily by higher deposit-related fees and the bank of new york transaction. for a further discussion of lending & deposit-related fees, which are mostly recorded in rfs, tss and cb, see the rfs segment results on pages 43 201348, the tss segment results on pages 54 201355, and the cb segment results on pages 52 201353 of this annual report. asset management, administration and commissions revenue reached a level higher than the previous record set in 2006. increased assets under management and higher performance and placement fees in am drove the record results. the 18% (18%) growth in assets under management from year-end 2006 came from net asset inflows and market appreciation across all segments: institutional, retail, private bank and private client services. tss also contributed to the rise in asset management, administration and commissions revenue, driven by increased product usage by new and existing clients and market appreciation on assets under custody. finally, commissions revenue increased, due mainly to higher brokerage transaction volume (primarily included within fixed income and equity markets revenue of ib), which more than offset the sale of the insurance business by rfs in the third quarter of 2006 and a charge in the first quarter of 2007 resulting from accelerated surrenders of customer annuities. for additional information on these fees and commissions, see the segment discussions for ib on pages 40 201342, rfs on pages 43 201348, tss on pages 54 201355, and am on pages 56 201358, of this annual report. the favorable variance resulting from securities gains in 2007 compared with securities losses in 2006 was primarily driven by improvements in the results of repositioning of the treasury invest- ment securities portfolio. also contributing to the positive variance was a $234 million gain from the sale of mastercard shares. for a fur- ther discussion of securities gains (losses), which are mostly recorded in the firm 2019s treasury business, see the corporate segment discussion on pages 59 201360 of this annual report. consol idated results of operat ions.
what were investment banking fees in 2007? 6635.0
what were they in 2006? 5520.0
what is the difference of the 2007 value less that in 2006? 1115.0
what is the net change divided by the 2006 value? | 0.20199 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | 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
additions to plant and equipment | $1684.2 | $1524.2 | $1521.0
acquisitions less cash acquired | 2014 | 224.9 | 863.4
investments in and advances to unconsolidated affiliates | -2.0 (2.0) | -1.3 (1.3) | 175.4
capital expenditures on a gaap basis | $1682.2 | $1747.8 | $2559.8
capital lease expenditures (a) | 202.4 | 234.9 | 212.2
purchase of noncontrolling interests in asubsidiary (a) |.5 | 14.0 | 6.3
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.
what were the capital expenditures on a non-gaap basis in 2012? 2778.3
and what were the capital expenditures on a gaap basis in that same year? 2559.8
how much, then, do the capital expenditures on a non-gaap basis represent in relation to the ones on a gaap basis, in 2012? | 1.08536 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | z i m m e r h o l d i n g s, i n c. a n d s u b s i d i a r i e s 2 0 0 3 f o r m 1 0 - k the following table sets forth the operating profit margin by cost of products sold. included in cost of product sold are segment for the years ended december 31, 2003, losses on foreign exchange hedge contracts, which increased 2002 and 2001: in 2003 relative to 2002. in the fourth quarter, the company reported operating profit as a percent of net sales of percent of net sales 47.1 percent for asia pacific..
year ended december 31, | 2003 | 2002 | 2001
americas | 51.2% (51.2%) | 48.3% (48.3%) | 47.4% (47.4%)
europe | 26.3 | 24.4 | 19.5
asia pacific | 45.3 | 46.1 | 45.4
operating profit for the americas as a percentage of net sales increased to 48.3 percent in 2002 from 47.4 percent in year ended december 31, 2003 2001, reflecting improved gross profit margins due to higher compared to year ended december 31, 2002 average selling prices and increased sales of higher margin operating profit for the americas as a percentage of net products, and lower selling expenses as a percent of sales sales increased due to improved gross margins driven by due to lower costs associated with the u.s. distributor higher average selling prices and increased sales of higher network. the americas continued to invest in strategic margin products, leveraged operating expenses and the initiatives such as mis technologies, field sales personnel, favorable impact of the change in accounting principle for medical education programs and new product launches. instruments. the change in accounting principle for operating profit for asia pacific as a percentage of net instruments increased operating profit by 1.7 percentage sales increased to 46.1 percent in 2002 from 45.4 percent points. with respect to sales growth, increased zimmer in 2001. this increase reflects lower selling, general and standalone average selling prices of 4 percent in 2003 and administrative expenses as a percent of sales in japan as favorable effects of volume and mix, 15 percent increase in a result of a sales force and dealer reorganization, partially 2003, represent the most significant factors in improved offset by lower gross profit margins as a result of lower yen operating profit in the americas. as reconstructive implant hedge gains compared to 2001. sales grow at a higher rate than trauma and orthopaedic operating profit for europe as a percentage of net sales surgical products, operating profit margins generally tend to increased to 24.4 percent in 2002 from 19.5 percent in 2001, improve since reconstructive product sales generally earn due to improved gross profit margins as a result of higher higher gross margins. this was the case in 2003, with zimmer average selling prices and favorable product and country mix, standalone reconstructive implant sales growth of 22 percent the leveraging of sales growth in europe on controlled as compared with total zimmer standalone sales growth of increases in operating expenses and improved efficiency 19 percent. in the fourth quarter, the company reported in the utilization of instruments (more frequent use of operating profit as a percent of net sales of 50.4 percent for instruments resulted in fewer placements and less expense). the americas. operating profit for europe as a percentage of net sales liquidity and capital resources increased due to improved gross profit margins driven by cash flows provided by operations were $494.8 million higher zimmer standalone average selling prices and in 2003, compared with $220.2 million in 2002. the principal favorable product and country mix, leveraged operating source of cash was net earnings before cumulative effect of expenses and the favorable impact of the change in change in accounting principle of $291.2 million. non-cash accounting principle for instruments. the change in expenses for the period included depreciation and accounting for instruments increased operating profit by amortization expense of $103.3 million, centerpulse inventory 1.4 percentage points. increases in zimmer standalone step-up of $42.7 million and centerpulse in-process research average selling prices in europe of 2 percent in 2003 and the and development write-offs of $11.2 million. working capital effect of volume and mix, 19 percent increase in 2003, were management, together with the collection of $20.0 million of the key factors in improved operating profit. also cash related to centerpulse tax loss carryforwards, contributing to the improvement was significantly lower contributed $80.4 million to operating cash flow. growth in operating expenses. in the fourth quarter, the working capital continues to be a key management focus. company reported operating profit as a percent of net sales at december 31, 2003, the company had 62 days of sales of 24.7 percent for europe. outstanding in accounts receivable, unfavorable to the prior operating profit for asia pacific as a percentage of year by 10 days. acquired centerpulse businesses had a net sales decreased primarily due to less favorable rates on negative impact of 10 days, due to centerpulse 2019s business hedge contracts during the year compared to the prior year, mix which has a greater proportion of european revenue with partially offset by increased zimmer standalone average payment terms generally longer than those in the u.s. at selling prices and leveraged operating expenses. the change december 31, 2003, the company had 232 days of inventory in accounting for instruments had an immaterial effect on on hand compared to 247 days reported at the end of 2002. operating profit for asia pacific. increases in zimmer the reduction was principally due to improved inventory standalone average selling prices in asia pacific of 1 percent management and the acquired dental and spinal businesses and volume and mix improvements of 4 percent in 2003 carrying fewer days of inventory. contributed modest improvement but was offset by higher.
what was the operating profit for the americas as a percentage of net sales in 2003? 51.2
and what was it in 2001? | 47.4 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | as a result of our acquisition of third wave on july 24, 2008, we assumed certain operating leases, the most significant of which is related to their corporate facility in madison, wisconsin, which is effective through september 2014. future lease payments on these operating leases were approximately $5.8 million as of september 27, 2008. additionally, we assumed several license agreements for certain patent rights. these payments will be made through 2011 and future payments under these license agreements are approximately $7.0 million as of september 27, 2008. contractual obligations. the following table summarizes our contractual obligations and commitments as of september 27, 2008:.
contractual obligations | payments due by period less than 1 year | payments due by period 1-3 years | payments due by period 3-5 years | payments due by period more than 5 years | payments due by period total
long-term debt obligations | $38480 | $109436 | $327400 | $1725584 | $2200900
interest on long-term debt obligations | 58734 | 110973 | 90433 | 7484 | 267624
operating leases | 18528 | 33162 | 27199 | 63616 | 142505
purchase obligations (1) | 33176 | 15703 | 2014 | 2014 | 48879
financing leases | 2408 | 5035 | 5333 | 15008 | 27784
long-term supply contracts (2) | 3371 | 6000 | 3750 | 2014 | 13121
private equity investment (3) | 1874 | 2014 | 2014 | 2014 | 1874
total contractual obligations | $156571 | $280309 | $454115 | $1811692 | $2702687
(1) approximately $6.4 million of the purchase obligations relates to an exclusive distribution and service agreement in the united states under which we will sell and service a line of extremity mri systems. pursuant to the terms of this contract, we have certain minimum inventory purchase obligations for the initial term of eighteen months. thereafter the purchase obligations are subject to renegotiation in the event of any unforeseen changes in the market dynamics. (2) as a result of the merger with cytyc, we assumed on a consolidated basis certain non-cancelable supply contracts. for reasons of quality assurance, sole source availability or cost effectiveness, certain key components and raw materials are available only from a sole supplier. to assure continuity of supply while maintaining high quality and reliability, long-term supply contracts have been executed with these suppliers. in certain of these contracts, a minimum purchase commitment has been established. (3) as a result of the merger with cytyc, we assumed a private equity investment commitment with a limited liability partnership, which could be paid over the succeeding three years. the amounts above do not include any amount that may be payable to biolucent and adiana for earn-outs. we are working on several projects and we expect to continue to review and evaluate potential acquisitions of businesses, products or technologies, and strategic alliances that we believe will complement our current or future business. subject to the risk factors set forth in part i, item 1a of this report and the general disclaimers set forth in our special note regarding forward-looking statements at the outset of this report, we believe that cash flow from operations and cash available from our amended credit agreement will provide us with sufficient funds in order to fund our expected operations over the next twelve months. our longer-term liquidity is contingent upon future operating performance and our ability to continue to meet financial covenants under our amended credit agreement. we may also require additional capital in the future to fund capital expenditures, acquisitions or other investments, or to repay our convertible notes. the holders of the convertible notes may require us to repurchase the notes on december 13 of 2013, and on each of december 15, 2017, 2022, 2027 and 2032 at a repurchase price equal to 100% (100%) of their accreted principal amount. these capital requirements could be substantial. our operating performance may also be affected by matters discussed under the above-referenced risk factors as elsewhere in this report. these risks, trends and uncertainties may also adversely affect our long- term liquidity..
what portion of the long-term debt is reported under the current liabilities section of the balance sheet as of 9/28/08? | 0.01748 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | note 17 financial derivatives we use derivative financial instruments (derivatives) primarily to help manage exposure to interest rate, market and credit risk and reduce the effects that changes in interest rates may have on net income, fair value of assets and liabilities, and cash flows. we also enter into derivatives with customers to facilitate their risk management activities. derivatives represent contracts between parties that usually require little or no initial net investment and result in one party delivering cash or another type of asset to the other party based on a notional amount and an underlying as specified in the contract. derivative transactions are often measured in terms of notional amount, but this amount is generally not exchanged and it is not recorded on the balance sheet. the notional amount is the basis to which the underlying is applied to determine required payments under the derivative contract. the underlying is a referenced interest rate (commonly libor), security price, credit spread or other index. residential and commercial real estate loan commitments associated with loans to be sold also qualify as derivative instruments. the following table presents the notional amounts and gross fair values of all derivative assets and liabilities held by pnc: table 127: total gross derivatives.
in millions | december 31 2013 notional/contractamount | december 31 2013 assetfairvalue (a) | december 31 2013 liabilityfairvalue (b) | december 31 2013 notional/contractamount | december 31 2013 assetfairvalue (a) | liabilityfairvalue (b)
derivatives designated as hedging instruments under gaap | $36197 | $1189 | $364 | $29270 | $1872 | $152
derivatives not designated as hedging instruments under gaap | 345059 | 3604 | 3570 | 337086 | 6696 | 6458
total gross derivatives | $381256 | $4793 | $3934 | $366356 | $8568 | $6610
(a) included in other assets on our consolidated balance sheet. (b) included in other liabilities on our consolidated balance sheet. all derivatives are carried on our consolidated balance sheet at fair value. derivative balances are presented on the consolidated balance sheet on a net basis taking into consideration the effects of legally enforceable master netting agreements and any related cash collateral exchanged with counterparties. further discussion regarding the rights of setoff associated with these legally enforceable master netting agreements is included in the offsetting, counterparty credit risk, and contingent features section below. our exposure related to risk participations where we sold protection is discussed in the credit derivatives section below. any nonperformance risk, including credit risk, is included in the determination of the estimated net fair value of the derivatives. further discussion on how derivatives are accounted for is included in note 1 accounting policies. derivatives designated as hedging instruments under gaap certain derivatives used to manage interest rate risk as part of our asset and liability risk management activities are designated as accounting hedges under gaap. derivatives hedging the risks associated with changes in the fair value of assets or liabilities are considered fair value hedges, derivatives hedging the variability of expected future cash flows are considered cash flow hedges, and derivatives hedging a net investment in a foreign subsidiary are considered net investment hedges. designating derivatives as accounting hedges allows for gains and losses on those derivatives, to the extent effective, to be recognized in the income statement in the same period the hedged items affect earnings. the pnc financial services group, inc. 2013 form 10-k 189.
in 2014, what percentage did the notional value of derivatives designated as hedging instruments under gaap represent in relation to the fair value? 30.44323
and which one was higher: the notional amount of those designated derivatives or of the non designated ones? | no |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | transaction and commercial issues in many of our businesses. these skills are a valuable resource as we monitor regulatory and tariff schemes to determine our capital budgeting needs and integrate acquisitions. the company expects to realize cost reduction and performance improvement benefits in both earnings and cash flows; however, there can be no assurance that the reductions and improvements will continue and our inability to sustain the reductions and improvements may result in less than expected earnings and cash flows in 2004 and beyond. asset sales during 2003, we continued the initiative to sell all or part of certain of the company 2019s subsidiaries. this initiative was designed to decrease the company 2019s dependence on access to capital markets and improve the strength of our balance sheet by reducing financial leverage and improving liquidity. the following chart details the asset sales that were closed during 2003. sales proceeds project name date completed (in millions) location.
project name | date completed | sales proceeds (in millions) | location
cilcorp/medina valley | january 2003 | $495 | united states
aes ecogen/aes mt. stuart | january 2003 | $59 | australia
mountainview | march 2003 | $30 | united states
kelvin | march 2003 | $29 | south africa
songas | april 2003 | $94 | tanzania
aes barry limited | july 2003 | a340/$62 | united kingdom
aes haripur private ltd/aes meghnaghat ltd | december 2003 | $145 | bangladesh
aes mtkvari/aes khrami/aes telasi | august 2003 | $23 | republic of georgia
medway power limited/aes medway operations limited | november 2003 | a347/$78 | united kingdom
aes oasis limited | december 2003 | $150 | pakistan/oman
the company continues to evaluate its portfolio and business performance and may decide to dispose of additional businesses in the future. however given the improvements in our liquidity there will be a lower emphasis placed on asset sales in the future for purposes of improving liquidity and strengthening the balance sheet. for any sales that happen in the future, there can be no guarantee that the proceeds from such sale transactions will cover the entire investment in the subsidiaries. depending on which businesses are eventually sold, the entire or partial sale of any business may change the current financial characteristics of the company 2019s portfolio and results of operations. furthermore future sales may impact the amount of recurring earnings and cash flows the company would expect to achieve. subsidiary restructuring during 2003, we completed and initiated restructuring transactions for several of our south american businesses. the efforts are focused on improving the businesses long-term prospects for generating acceptable returns on invested capital or extending short-term debt maturities. businesses impacted include eletropaulo, tiete, uruguaiana and sul in brazil and gener in chile. brazil eletropaulo. aes has owned an interest in eletropaulo since april 1998, when the company was privatized. in february 2002 aes acquired a controlling interest in the business and as a consequence started to consolidate it. aes financed a significant portion of the acquisition of eletropaulo, including both common and preferred shares, through loans and deferred purchase price financing arrangements provided by the brazilian national development bank 2014 (2018 2018bndes 2019 2019), and its wholly-owned subsidiary, bndes participac 0327o 0303es s.a. (2018 2018bndespar 2019 2019), to aes 2019s subsidiaries, aes elpa s.a. (2018 2018aes elpa 2019 2019) and aes transgas empreendimentos, s.a. (2018 2018aes transgas 2019 2019)..
what was the total, in millions, of sales proceeds for subsidiaries assets in the months of december and august of 2003, combined, in the locations of bangladesh and republic of georgia? 168.0
including november of that year, what then becomes that total? 246.0
what were the total sales proceeds for subsidiaries assets in december 2003 in pakistan/oman, in millions? 150.0
including these total sales, what then becomes that total, also in millions? | 396.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | entergy corporation notes to consolidated financial statements (a) consists of pollution control revenue bonds and environmental revenue bonds, certain series of which are secured by non-interest bearing first mortgage bonds. (b) the bonds are subject to mandatory tender for purchase from the holders at 100% (100%) of the principal amount outstanding on september 1, 2005 and can then be remarketed. (c) the bonds are subject to mandatory tender for purchase from the holders at 100% (100%) of the principal amount outstanding on september 1, 2004 and can then be remarketed. (d) the bonds had a mandatory tender date of october 1, 2003. entergy louisiana purchased the bonds from the holders, pursuant to the mandatory tender provision, and has not remarketed the bonds at this time. entergy louisiana used a combination of cash on hand and short-term borrowing to buy-in the bonds. (e) on june 1, 2002, entergy louisiana remarketed $55 million st. charles parish pollution control revenue refunding bonds due 2030, resetting the interest rate to 4.9% (4.9%) through may 2005. (f) the bonds are subject to mandatory tender for purchase from the holders at 100% (100%) of the principal amount outstanding on june 1, 2005 and can then be remarketed. (g) pursuant to the nuclear waste policy act of 1982, entergy's nuclear owner/licensee subsidiaries have contracts with the doe for spent nuclear fuel disposal service. the contracts include a one-time fee for generation prior to april 7, 1983. entergy arkansas is the only entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term (h) the fair value excludes lease obligations, long-term doe obligations, and other long-term debt and includes debt due within one year. it is determined using bid prices reported by dealer markets and by nationally recognized investment banking firms. the annual long-term debt maturities (excluding lease obligations) for debt outstanding as of december 31, 2003, for the next five years are as follows:.
- | (in thousands)
2004 | $503215
2005 | $462420
2006 | $75896
2007 | $624539
2008 | $941625
in november 2000, entergy's non-utility nuclear business purchased the fitzpatrick and indian point 3 power plants in a seller-financed transaction. entergy issued notes to nypa with seven annual installments of approximately $108 million commencing one year from the date of the closing, and eight annual installments of $20 million commencing eight years from the date of the closing. these notes do not have a stated interest rate, but have an implicit interest rate of 4.8% (4.8%). in accordance with the purchase agreement with nypa, the purchase of indian point 2 resulted in entergy's non-utility nuclear business becoming liable to nypa for an additional $10 million per year for 10 years, beginning in september 2003. this liability was recorded upon the purchase of indian point 2 in september 2001, and is included in the note payable to nypa balance above. in july 2003, a payment of $102 million was made prior to maturity on the note payable to nypa. under a provision in a letter of credit supporting these notes, if certain of the domestic utility companies or system energy were to default on other indebtedness, entergy could be required to post collateral to support the letter of credit. covenants in the entergy corporation notes require it to maintain a consolidated debt ratio of 65% (65%) or less of its total capitalization. if entergy's debt ratio exceeds this limit, or if entergy or certain of the domestic utility companies default on other indebtedness or are in bankruptcy or insolvency proceedings, an acceleration of the notes' maturity dates may occur..
what is the sum of long-term debt due in 2004 and 2005? 965635.0
what is that divided by 1000? | 965.635 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | republic services, inc. notes to consolidated financial statements 2014 (continued) employee stock purchase plan republic employees are eligible to participate in an employee stock purchase plan. the plan allows participants to purchase our common stock for 95% (95%) of its quoted market price on the last day of each calendar quarter. for the years ended december 31, 2017, 2016 and 2015, issuances under this plan totaled 113941 shares, 130085 shares and 141055 shares, respectively. as of december 31, 2017, shares reserved for issuance to employees under this plan totaled 0.4 million and republic held employee contributions of approximately $1.8 million for the purchase of common stock. 12. stock repurchases and dividends stock repurchases stock repurchase activity during the years ended december 31, 2017 and 2016 follows (in millions except per share amounts):.
- | 2017 | 2016
number of shares repurchased | 9.6 | 8.4
amount paid | $610.7 | $403.8
weighted average cost per share | $63.84 | $48.56
as of december 31, 2017, there were 0.5 million repurchased shares pending settlement and $33.8 million was unpaid and included within other accrued liabilities. in october 2017, our board of directors added $2.0 billion to the existing share repurchase authorization that now extends through december 31, 2020. before this, $98.4 million remained under a prior authorization. share repurchases under the program may be made through open market purchases or privately negotiated transactions in accordance with applicable federal securities laws. while the board of directors has approved the program, the timing of any purchases, the prices and the number of shares of common stock to be purchased will be determined by our management, at its discretion, and will depend upon market conditions and other factors. the share repurchase program may be extended, suspended or discontinued at any time. as of december 31, 2017, the remaining authorized purchase capacity under our october 2017 repurchase program was $1.8 billion. in december 2015, our board of directors changed the status of 71272964 treasury shares to authorized and unissued. in doing so, the number of our issued shares was reduced by the stated amount. our accounting policy is to deduct the par value from common stock and to reflect the excess of cost over par value as a deduction from additional paid-in capital. the change in unissued shares resulted in a reduction of $2295.3 million in treasury stock, $0.6 million in common stock, and $2294.7 million in additional paid-in capital. there was no effect on our total stockholders 2019 equity position as a result of the change. dividends in october 2017, our board of directors approved a quarterly dividend of $0.345 per share. cash dividends declared were $446.3 million, $423.8 million and $404.3 million for the years ended december 31, 2017, 2016 and 2015, respectively. as of december 31, 2017, we recorded a quarterly dividend payable of $114.4 million to shareholders of record at the close of business on january 2, 2018. 13. earnings per share basic earnings per share is computed by dividing net income attributable to republic services, inc. by the weighted average number of common shares (including vested but unissued rsus) outstanding during the.
what was the change in the number of shares of the issuance under the employee stock purchase plan from 2016 to 2017? -16144.0
and how much does this change represent in relation to that number in 2016, in percentage? | -0.1241 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | n o t e s t o t h e c o n s o l i d a t e d f i n a n c i a l s t a t e m e n t s 2013 (continued) ace limited and subsidiaries excluded from adjusted weighted-average shares outstanding and assumed conversions is the impact of securities that would have been anti-dilutive during the respective years. for the years ended december 31, 2010, 2009, and 2008, the potential anti-dilutive share conversions were 256868 shares, 1230881 shares, and 638401 shares, respectively. 19. related party transactions the ace foundation 2013 bermuda is an unconsolidated not-for-profit organization whose primary purpose is to fund charitable causes in bermuda. the trustees are principally comprised of ace management. the company maintains a non-interest bear- ing demand note receivable from the ace foundation 2013 bermuda, the balance of which was $30 million and $31 million, at december 31, 2010 and 2009, respectively. the receivable is included in other assets in the accompanying consolidated balance sheets. the borrower has used the related proceeds to finance investments in bermuda real estate, some of which have been rented to ace employees at rates established by independent, professional real estate appraisers. the borrower uses income from the investments to both repay the note and to fund charitable activities. accordingly, the company reports the demand note at the lower of its principal value or the fair value of assets held by the borrower to repay the loan, including the real estate properties. 20. statutory financial information the company 2019s insurance and reinsurance subsidiaries are subject to insurance laws and regulations in the jurisdictions in which they operate. these regulations include restrictions that limit the amount of dividends or other distributions, such as loans or cash advances, available to shareholders without prior approval of the insurance regulatory authorities. there are no statutory restrictions on the payment of dividends from retained earnings by any of the bermuda subsidiaries as the minimum statutory capital and surplus requirements are satisfied by the share capital and additional paid-in capital of each of the bermuda subsidiaries. the company 2019s u.s. subsidiaries file financial statements prepared in accordance with statutory accounting practices prescribed or permitted by insurance regulators. statutory accounting differs from gaap in the reporting of certain reinsurance contracts, investments, subsidiaries, acquis- ition expenses, fixed assets, deferred income taxes, and certain other items. the statutory capital and surplus of the u.s. subsidiaries met regulatory requirements for 2010, 2009, and 2008. the amount of dividends available to be paid in 2011, without prior approval from the state insurance departments, totals $850 million. the following table presents the combined statutory capital and surplus and statutory net income of the bermuda and u.s. subsidiaries at and for the years ended december 31, 2010, 2009, and 2008..
(in millions of u.s. dollars) | bermuda subsidiaries 2010 | bermuda subsidiaries 2009 | bermuda subsidiaries 2008 | bermuda subsidiaries 2010 | bermuda subsidiaries 2009 | 2008
statutory capital and surplus | $11798 | $9164 | $6205 | $6266 | $5885 | $5368
statutory net income | $2430 | $2369 | $2196 | $1047 | $904 | $818
as permitted by the restructuring discussed previously in note 7, certain of the company 2019s u.s. subsidiaries discount certain a&e liabilities, which increased statutory capital and surplus by approximately $206 million, $215 million, and $211 million at december 31, 2010, 2009, and 2008, respectively. the company 2019s international subsidiaries prepare statutory financial statements based on local laws and regulations. some jurisdictions impose complex regulatory requirements on insurance companies while other jurisdictions impose fewer requirements. in some countries, the company must obtain licenses issued by governmental authorities to conduct local insurance business. these licenses may be subject to reserves and minimum capital and solvency tests. jurisdictions may impose fines, censure, and/or criminal sanctions for violation of regulatory requirements..
what was the amount of statutory capital and surplus for bermuda subsidiaries in 2010? 11798.0
and what was it in 2009? 9164.0
by how much, then, did it increase over the year? 2634.0
in that same period, what was the change in the net income for those same bermuda subsidiaries? 61.0
and what is this change as a portion of that income in 2009? | 0.02575 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | 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
weighted average common shares outstanding for basic computations | 287.8 | 299.3 | 310.3
weighted average dilutive effect of equity awards | 2.8 | 3.8 | 4.4
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.
what is the sum of the weighted average common shares outstanding for diluted computations in 2017 and 2016? 593.7
what is the number of shares in 2015? | 314.7 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | the acquisition date is on or after the beginning of the first annual reporting period beginning on or after december 15, 2008. we will evaluate how the new requirements of statement no. 141 (r) would impact any business combinations completed in 2009 or thereafter. in december 2007, the fasb also issued statement of financial accounting standards no. 160, noncontrolling interests in consolidated financial statements 2014an amendment of accounting research bulletin no. 51. a noncontrolling interest, sometimes called a minority interest, is the portion of equity in a subsidiary not attributable, directly or indirectly, to a parent. statement no. 160 establishes accounting and reporting standards for the noncontrolling interest in a subsidiary and for the deconsolidation of a subsidiary. under statement no. 160, noncontrolling interests in a subsidiary must be reported as a component of consolidated equity separate from the parent 2019s equity. additionally, the amounts of consolidated net income attributable to both the parent and the noncontrolling interest must be reported separately on the face of the income statement. statement no. 160 is effective for fiscal years beginning on or after december 15, 2008 and earlier adoption is prohibited. we do not expect the adoption of statement no. 160 to have a material impact on our financial statements and related disclosures. 2008 estimates the forward-looking statements provided in this discussion are based on our examination of historical operating trends, the information that was used to prepare the december 31, 2007 reserve reports and other data in our possession or available from third parties. these forward-looking statements were prepared assuming demand, curtailment, producibility and general market conditions for our oil, natural gas and ngls during 2008 will be substantially similar to those of 2007, unless otherwise noted. we make reference to the 201cdisclosure regarding forward-looking statements 201d at the beginning of this report. amounts related to canadian operations have been converted to u.s. dollars using a projected average 2008 exchange rate of $0.98 u.s. dollar to $1.00 canadian dollar. in january 2007, we announced our intent to divest our west african oil and gas assets and terminate our operations in west africa, including equatorial guinea, cote d 2019ivoire, gabon and other countries in the region. in november 2007, we announced an agreement to sell our operations in gabon for $205.5 million. we are finalizing purchase and sales agreements and obtaining the necessary partner and government approvals for the remaining properties in this divestiture package. we are optimistic we can complete these sales during the first half of 2008. all west african related revenues, expenses and capital will be reported as discontinued operations in our 2008 financial statements. accordingly, all forward-looking estimates in the following discussion exclude amounts related to our operations in west africa, unless otherwise noted. though we have completed several major property acquisitions and dispositions in recent years, these transactions are opportunity driven. thus, the following forward-looking estimates do not include any financial and operating effects of potential property acquisitions or divestitures that may occur during 2008, except for west africa as previously discussed. oil, gas and ngl production set forth below are our estimates of oil, gas and ngl production for 2008. we estimate that our combined 2008 oil, gas and ngl production will total approximately 240 to 247 mmboe. of this total, approximately 92% (92%) is estimated to be produced from reserves classified as 201cproved 201d at december 31, 2007. the following estimates for oil, gas and ngl production are calculated at the midpoint of the estimated range for total production. oil gas ngls total (mmbbls) (bcf) (mmbbls) (mmboe).
- | oil (mmbbls) | gas (bcf) | ngls (mmbbls) | total (mmboe)
u.s. onshore | 12 | 626 | 23 | 140
u.s. offshore | 8 | 68 | 1 | 20
canada | 23 | 198 | 4 | 60
international | 23 | 2 | 2014 | 23
total | 66 | 894 | 28 | 243
.
what is the value of mmboe from canada divided by the total? 0.24691
what is that times 100? | 24.69136 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | 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
loews common stock | 100.0 | 97.37 | 106.04 | 126.23 | 110.59 | 101.72
s&p 500 index | 100.0 | 102.11 | 118.45 | 156.82 | 178.29 | 180.75
loews peer group (a) | 100.0 | 101.59 | 115.19 | 145.12 | 152.84 | 144.70
(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..
from 2010 to 2011, what was the change in the value of the loews common stock? -2.63
and what was this change as a portion of the 2010 value of that stock? -0.0263
and from 2010 to 2012, what was the change in the value of that stock? | 6.04 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | edwards lifesciences corporation notes to consolidated financial statements (continued) 7. acquisitions (continued) was recorded to goodwill. the following table summarizes the fair values of the assets acquired and liabilities assumed (in millions):.
current assets | $28.1
property and equipment net | 0.2
goodwill | 258.9
ipr&d | 190.0
current liabilities assumed | -32.9 (32.9)
deferred income taxes | -66.0 (66.0)
contingent consideration | -30.3 (30.3)
total cash purchase price | 348.0
less: cash acquired | -27.9 (27.9)
total cash purchase price net of cash acquired | $320.1
goodwill includes expected synergies and other benefits the company believes will result from the acquisition. goodwill was assigned to the company 2019s united states segment and is not deductible for tax purposes. ipr&d has been capitalized at fair value as an intangible asset with an indefinite life and will be assessed for impairment in subsequent periods. the fair value of the ipr&d was determined using the income approach. this approach determines fair value based on cash flow projections which are discounted to present value using a risk-adjusted rate of return. the discount rate used to determine the fair value of the ipr&d was 16.5% (16.5%). completion of successful design developments, bench testing, pre-clinical studies and human clinical studies are required prior to selling any product. the risks and uncertainties associated with completing development within a reasonable period of time include those related to the design, development, and manufacturability of the product, the success of pre-clinical and clinical studies, and the timing of regulatory approvals. the valuation assumed $97.7 million of additional research and development expenditures would be incurred prior to the date of product introduction, and the company does not currently anticipate significant changes to forecasted research and development expenditures associated with the cardiaq program. the company 2019s valuation model also assumed net cash inflows would commence in late 2018, if successful clinical trial experiences lead to a ce mark approval. upon completion of development, the underlying research and development intangible asset will be amortized over its estimated useful life. the company disclosed in early february 2017 that it had voluntarily paused enrollment in its clinical trials for the edwards-cardiaq valve to perform further design validation testing on a feature of the valve. this testing has been completed and, in collaboration with clinical investigators, the company has decided to resume screening patients for enrollment in its clinical trials. the results of operations for cardiaq have been included in the accompanying consolidated financial statements from the date of acquisition. pro forma results have not been presented as the results of cardiaq are not material in relation to the consolidated financial statements of the company. 8. goodwill and other intangible assets on july 3, 2015, the company acquired cardiaq (see note 7). this transaction resulted in an increase to goodwill of $258.9 million and ipr&d of $190.0 million..
what is the amount of the goodwill? 258.9
and what is the total cash purchase price net of cash acquired? 320.1
what percentage, then, does that amount represent in relation to this purchase price? | 0.80881 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | liquidity and capital resources we maintained a strong financial position throughout fiscal year 2019. as of 30 september 2019, our consolidated balance sheet included cash and cash items of $2248.7. we continue to have consistent access to commercial paper markets, and cash flows from operating and financing activities are expected to meet liquidity needs for the foreseeable future. as of 30 september 2019, we had $971.5 of foreign cash and cash items compared to a total amount of cash and cash items of $2248.7. as a result of the tax act, we do not expect that a significant portion of our foreign subsidiaries' and affiliates' earnings will be subject to u.s. income tax upon subsequent repatriation to the united states. the repatriation of these earnings may be subject to foreign withholding and other taxes depending on the country in which the subsidiaries and affiliates reside. however, because we have significant current investment plans outside the u.s., it is our intent to permanently reinvest the majority of our foreign cash and cash items that would be subject to additional taxes outside the u.s. refer to note 23, income taxes, for additional information. the table below summarizes our cash flows from operating activities, investing activities, and financing activities from continuing operations as reflected on the consolidated statements of cash flows:.
cash provided by (used for) | 2019 | 2018
operating activities | $2969.9 | $2547.2
investing activities | -2113.4 (2113.4) | -1641.6 (1641.6)
financing activities | -1370.5 (1370.5) | -1359.8 (1359.8)
operating activities for the fiscal year ended 30 september 2019, cash provided by operating activities was $2969.9. income from continuing operations of $1760.0 was adjusted for items including depreciation and amortization, deferred income taxes, impacts from the tax act, a charge for the facility closure of one of our customers, undistributed earnings of unconsolidated affiliates, gain on sale of assets and investments, share-based compensation, noncurrent capital lease receivables, and certain other adjustments. the caption "gain on sale of assets and investments" includes a gain of $14.1 recognized on the disposition of our interest in high-tech gases (beijing) co., ltd., a previously held equity investment in our industrial gases 2013 asia segment. refer to note 7, acquisitions, to the consolidated financial statements for additional information. the working capital accounts were a use of cash of $25.3, primarily driven by $69.0 from trade receivables and $41.8 from payables and accrued liabilities, partially offset by $79.8 from other receivables. the use of cash within "payables and accrued liabilities" was primarily driven by a $48.9 decrease in accrued utilities and a $30.3 decrease in accrued interest, partially offset by a $51.6 increase in customer advances primarily related to sale of equipment activity. the decrease in accrued utilities was primarily driven by a contract modification to a tolling arrangement in india and lower utility costs in the industrial gases 2013 americas segment. the source of cash from other receivables of $79.8 was primarily due to the maturities of forward exchange contracts that hedged foreign currency exposures and the collection of value added taxes. for the fiscal year ended 30 september 2018, cash provided by operating activities was $2547.2, including income from continuing operations of $1455.6. other adjustments of $131.6 include a $54.9 net impact from the remeasurement of intercompany transactions. the related hedging instruments that eliminate the earnings impact are included as a working capital adjustment in other receivables or payables and accrued liabilities. in addition, other adjustments were impacted by cash received from the early termination of a cross currency swap of $54.4, as well as the excess of pension expense over pension contributions of $23.5. the working capital accounts were a use of cash of $265.4, primarily driven by payables and accrued liabilities, inventories, and trade receivables, partially offset by other receivables. the use of cash in payables and accrued liabilities of $277.7 includes a decrease in customer advances of $145.7 primarily related to sale of equipment activity and $67.1 for maturities of forward exchange contracts that hedged foreign currency exposures. the use of cash in inventories primarily resulted from the purchase of helium molecules. in addition, inventories reflect the noncash impact of our change in accounting for u.s. inventories from lifo to fifo. the source of cash from other receivables of $128.3 was primarily due to the maturities of forward exchange contracts that hedged foreign currency exposures..
what was the amount of cash provided by operating activities? | 2547.2 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | table of contents the estimated amortization expense at september 26, 2015 for each of the five succeeding fiscal years was as follows:.
fiscal 2016 | $377.0
fiscal 2017 | $365.6
fiscal 2018 | $355.1
fiscal 2019 | $343.5
fiscal 2020 | $332.3
goodwill in accordance with asc 350, intangibles 2014goodwill and other (asc 350), the company tests goodwill for impairment at the reporting unit level on an annual basis and between annual tests if events and circumstances indicate it is more likely than not that the fair value of a reporting unit is less than its carrying value. events that could indicate impairment and trigger an interim impairment assessment include, but are not limited to, current economic and market conditions, including a decline in market capitalization, a significant adverse change in legal factors, business climate, operational performance of the business or key personnel, and an adverse action or assessment by a regulator. in performing the impairment test, the company utilizes the two-step approach prescribed under asc 350. the first step requires a comparison of the carrying value of each reporting unit to its estimated fair value. to estimate the fair value of its reporting units for step 1, the company primarily utilizes the income approach. the income approach is based on a dcf analysis and calculates the fair value by estimating the after-tax cash flows attributable to a reporting unit and then discounting the after-tax cash flows to a present value using a risk-adjusted discount rate. assumptions used in the dcf require significant judgment, including judgment about appropriate discount rates and terminal values, growth rates, and the amount and timing of expected future cash flows. the forecasted cash flows are based on the company 2019s most recent budget and strategic plan and for years beyond this period, the company 2019s estimates are based on assumed growth rates expected as of the measurement date. the company believes its assumptions are consistent with the plans and estimates used to manage the underlying businesses. the discount rates used are intended to reflect the risks inherent in future cash flow projections and are based on estimates of the weighted-average cost of capital (201cwacc 201d) of market participants relative to each respective reporting unit. the market approach considers comparable market data based on multiples of revenue or earnings before interest, taxes, depreciation and amortization (201cebitda 201d) and is primarily used as a corroborative analysis to the results of the dcf analysis. the company believes its assumptions used to determine the fair value of its reporting units are reasonable. if different assumptions were used, particularly with respect to forecasted cash flows, terminal values, waccs, or market multiples, different estimates of fair value may result and there could be the potential that an impairment charge could result. actual operating results and the related cash flows of the reporting units could differ from the estimated operating results and related cash flows. if the carrying value of a reporting unit exceeds its estimated fair value, the company is required to perform the second step of the goodwill impairment test to measure the amount of impairment loss, if any. the second step of the goodwill impairment test compares the implied fair value of a reporting unit 2019s goodwill to its carrying value. the implied fair value of goodwill is derived by performing a hypothetical purchase price allocation for each reporting unit as of the measurement date and allocating the reporting unit 2019s estimated fair value to its assets and liabilities. the residual amount from performing this allocation represents the implied fair value of goodwill. to the extent this amount is below the carrying value of goodwill, an impairment charge is recorded. the company conducted its fiscal 2015 impairment test on the first day of the fourth quarter, and as noted above used dcf and market approaches to estimate the fair value of its reporting units as of june 28, 2015, and ultimately used the fair value determined by the dcf approach in making its impairment test conclusions. the company believes it used reasonable estimates and assumptions about future revenue, cost projections, cash flows, market multiples and discount rates as of the measurement date. as a result of completing step 1, all of the company's reporting units had fair values exceeding their carrying values, and as such, step 2 of the impairment test was not required. for illustrative purposes, had the fair value of each of the reporting units that passed step 1 been lower than 10% (10%), all of the reporting units would still have passed step 1 of the goodwill impairment test. at september 26, 2015, the company believes that each reporting unit, with goodwill aggregating 2.81 billion, was not at risk of failing step 1 of the goodwill impairment test based on the current forecasts. the company conducted its fiscal 2014 annual impairment test on the first day of the fourth quarter, and as noted above used dcf and market approaches to estimate the fair value of its reporting units as of june 29, 2014, and ultimately used the fair value determined by the dcf approach in making its impairment test conclusions. the company believes it used reasonable estimates and assumptions about future revenue, cost projections, cash flows, market multiples and discount rates as source: hologic inc, 10-k, november 19, 2015 powered by morningstar ae document research 2120 the information contained herein may not be copied, adapted or distributed and is not warranted to be accurate, complete or timely. the user assumes all risks for any damages or losses arising from any use of this information, except to the extent such damages or losses cannot be limited or excluded by applicable law. past financial performance is no guarantee of future results..
what was the net change in value of the amortization expense from 2016 to 2017? -11.4
what was the value in 2016? 377.0
what is the percent change? | -0.03024 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | the aes corporation notes to consolidated financial statements 2014 (continued) december 31, 2017, 2016, and 2015 was dispatched starting in february 2018. aes puerto rico continues to be the lowest cost and epa compliant energy provider in puerto rico. therefore, we expect aes puerto rico to continue to be a critical supplier to prepa. starting prior to the hurricanes, prepa has been facing economic challenges that could impact the company, and on july 2, 2017, filed for bankruptcy under title iii. as a result of the bankruptcy filing, aes puerto rico and aes ilumina 2019s non-recourse debt of $365 million and $36 million, respectively, is in default and has been classified as current as of december 31, 2017. in november 2017, aes puerto rico signed a forbearance and standstill agreement with its lenders to prevent the lenders from taking any action against the company due to the default events. this agreement will expire on march 22, 2018. the company's receivable balances in puerto rico as of december 31, 2017 totaled $86 million, of which $53 million was overdue. after the filing of title iii protection, and up until the disruption caused by the hurricanes, aes in puerto rico was collecting the overdue amounts from prepa in line with historic payment patterns. considering the information available as of the filing date, management believes the carrying amount of our assets in puerto rico of $627 million is recoverable as of december 31, 2017 and no reserve on the receivables is required. foreign currency risks 2014 aes operates businesses in many foreign countries and such operations could be impacted by significant fluctuations in foreign currency exchange rates. fluctuations in currency exchange rate between u.s. dollar and the following currencies could create significant fluctuations in earnings and cash flows: the argentine peso, the brazilian real, the dominican republic peso, the euro, the chilean peso, the colombian peso, and the philippine peso. concentrations 2014 due to the geographical diversity of its operations, the company does not have any significant concentration of customers or sources of fuel supply. several of the company's generation businesses rely on ppas with one or a limited number of customers for the majority of, and in some cases all of, the relevant businesses' output over the term of the ppas. however, no single customer accounted for 10% (10%) or more of total revenue in 2017, 2016 or 2015. the cash flows and results of operations of our businesses depend on the credit quality of our customers and the continued ability of our customers and suppliers to meet their obligations under ppas and fuel supply agreements. if a substantial portion of the company's long-term ppas and/or fuel supply were modified or terminated, the company would be adversely affected to the extent that it would be unable to replace such contracts at equally favorable terms. 26. related party transactions certain of our businesses in panama and the dominican republic are partially owned by governments either directly or through state-owned institutions. in the ordinary course of business, these businesses enter into energy purchase and sale transactions, and transmission agreements with other state-owned institutions which are controlled by such governments. at two of our generation businesses in mexico, the offtakers exercise significant influence, but not control, through representation on these businesses' boards of directors. these offtakers are also required to hold a nominal ownership interest in such businesses. in chile, we provide capacity and energy under contractual arrangements to our investment which is accounted for under the equity method of accounting. additionally, the company provides certain support and management services to several of its affiliates under various agreements. the company's consolidated statements of operations included the following transactions with related parties for the periods indicated (in millions):.
years ended december 31, | 2017 | 2016 | 2015
revenue 2014non-regulated | $1297 | $1100 | $1099
cost of sales 2014non-regulated | 220 | 210 | 330
interest income | 8 | 4 | 25
interest expense | 36 | 39 | 33
.
what was the total of revenues for transactions with related parties in 2017? 1297.0
and what was that in 2016? 1100.0
what was, then, the change over the year? | 197.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | aon has certain contractual contingent guarantees for premium payments owed by clients to certain insurance companies. the maximum exposure with respect to such contractual contingent guarantees was approximately $48 million at december 31, 2011. aon has provided commitments to fund certain limited partnerships in which it has an interest in the event that the general partners request funding. some of these commitments have specific expiration dates and the maximum potential funding under these commitments was $64 million at december 31, 2011. during 2011, the company funded $15 million of these commitments. aon expects that as prudent business interests dictate, additional guarantees and indemnifications may be issued from time to time. 17. related party transactions during 2011, the company, in the ordinary course of business, provided retail brokerage, consulting and financial advisory services to, and received wholesale brokerage services from, an entity that is controlled by one of the company 2019s stockholders. these transactions were negotiated at an arms-length basis and contain customary terms and conditions. during 2011, commissions and fee revenue from these transactions was approximately $9 million. 18. segment information the company has two reportable operating segments: risk solutions and hr solutions. unallocated income and expenses, when combined with the operating segments and after the elimination of intersegment revenues and expenses, total to the amounts in the consolidated financial statements. reportable operating segments have been determined using a management approach, which is consistent with the basis and manner in which aon 2019s chief operating decision maker (2018 2018codm 2019 2019) uses financial information for the purposes of allocating resources and assessing performance. the codm assesses performance based on operating segment operating income and generally accounts for intersegment revenue as if the revenue were from third parties and at what management believes are current market prices. the company does not present net assets by segment as this information is not reviewed by the codm. risk solutions acts as an advisor and insurance and reinsurance broker, helping clients manage their risks, via consultation, as well as negotiation and placement of insurance risk with insurance carriers through aon 2019s global distribution network. hr solutions partners with organizations to solve their most complex benefits, talent and related financial challenges, and improve business performance by designing, implementing, communicating and administering a wide range of human capital, retirement, investment management, health care, compensation and talent management strategies. aon 2019s total revenue is as follows (in millions):.
years ended december 31 | 2011 | 2010 | 2009
risk solutions | $6817 | $6423 | $6305
hr solutions | 4501 | 2111 | 1267
intersegment elimination | -31 (31) | -22 (22) | -26 (26)
total operating segments | 11287 | 8512 | 7546
unallocated | 2014 | 2014 | 49
total revenue | $11287 | $8512 | $7595
.
what is the net change in revenue for risk solutions from 2010 to 2011? 394.0
what is the total revenue from risk solutions in 2010? | 6423.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | management 2019s discussion and analysis of financial condition and results of operations 2013 (continued) (amounts in millions, except per share amounts) liquidity and capital resources cash flow overview the following tables summarize key financial data relating to our liquidity, capital resources and uses of capital..
cash flow data | years ended december 31, 2015 | years ended december 31, 2014 | years ended december 31, 2013
net income adjusted to reconcile net income to net cashprovided by operating activities1 | $848.2 | $831.2 | $598.4
net cash used in working capital2 | -117.5 (117.5) | -131.1 (131.1) | -9.6 (9.6)
changes in other non-current assets and liabilities using cash | -56.7 (56.7) | -30.6 (30.6) | 4.1
net cash provided by operating activities | $674.0 | $669.5 | $592.9
net cash used in investing activities | -202.8 (202.8) | -200.8 (200.8) | -224.5 (224.5)
net cash used in financing activities | -472.8 (472.8) | -343.9 (343.9) | -1212.3 (1212.3)
1 reflects net income adjusted primarily for depreciation and amortization of fixed assets and intangible assets, amortization of restricted stock and other non-cash compensation, non-cash (gain) loss related to early extinguishment of debt, losses on sales of businesses and deferred income taxes. 2 reflects changes in accounts receivable, expenditures billable to clients, other current assets, accounts payable and accrued liabilities. operating activities net cash provided by operating activities during 2015 was $674.0, which was an improvement of $4.5 as compared to 2014, primarily as a result of an improvement in working capital usage of $13.6. due to the seasonality of our business, we typically generate cash from working capital in the second half of a year and use cash from working capital in the first half of a year, with the largest impacts in the first and fourth quarters. our net working capital usage in 2015 was primarily attributable to our media businesses. net cash provided by operating activities during 2014 was $669.5, which was an improvement of $76.6 as compared to 2013, primarily as a result of an increase in net income, offset by an increase in working capital usage of $121.5. our net working capital usage in 2014 was impacted by our media businesses. the timing of media buying on behalf of our clients affects our working capital and operating cash flow. in most of our businesses, our agencies enter into commitments to pay production and media costs on behalf of clients. to the extent possible, we pay production and media charges after we have received funds from our clients. the amounts involved substantially exceed our revenues and primarily affect the level of accounts receivable, expenditures billable to clients, accounts payable and accrued liabilities. our assets include both cash received and accounts receivable from clients for these pass-through arrangements, while our liabilities include amounts owed on behalf of clients to media and production suppliers. our accrued liabilities are also affected by the timing of certain other payments. for example, while annual cash incentive awards are accrued throughout the year, they are generally paid during the first quarter of the subsequent year. investing activities net cash used in investing activities during 2015 primarily related to payments for capital expenditures of $161.1, largely attributable to purchases of leasehold improvements and computer hardware. net cash used in investing activities during 2014 primarily related to payments for capital expenditures and acquisitions. capital expenditures of $148.7 related primarily to computer hardware and software and leasehold improvements. we made payments of $67.8 related to acquisitions completed during 2014, net of cash acquired..
what was the change in the total cash flow between 2014 and 2015? 17.0
so what was the percentage increase during this time? | 0.02045 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | long-term borrowings the carrying value and fair value of long-term borrowings estimated using market prices at december 31, 2013 included the following: (in millions) maturity amount unamortized discount carrying value fair value.
(in millions) | maturity amount | unamortized discount | carrying value | fair value
3.50% (3.50%) notes due 2014 | $1000 | $2014 | $1000 | $1029
1.375% (1.375%) notes due 2015 | 750 | 2014 | 750 | 759
6.25% (6.25%) notes due 2017 | 700 | -2 (2) | 698 | 812
5.00% (5.00%) notes due 2019 | 1000 | -2 (2) | 998 | 1140
4.25% (4.25%) notes due 2021 | 750 | -3 (3) | 747 | 799
3.375% (3.375%) notes due 2022 | 750 | -4 (4) | 746 | 745
total long-term borrowings | $4950 | $-11 (11) | $4939 | $5284
long-term borrowings at december 31, 2012 had a carrying value of $5.687 billion and a fair value of $6.275 billion determined using market prices at the end of december 2012. 2015 and 2022 notes. in may 2012, the company issued $1.5 billion in aggregate principal amount of unsecured unsubordinated obligations. these notes were issued as two separate series of senior debt securities including $750 million of 1.375% (1.375%) notes maturing in june 2015 (the 201c2015 notes 201d) and $750 million of 3.375% (3.375%) notes maturing in june 2022 (the 201c2022 notes 201d). net proceeds were used to fund the repurchase of blackrock 2019s common stock and series b preferred from barclays and affiliates and for general corporate purposes. interest on the 2015 notes and the 2022 notes of approximately $10 million and $25 million per year, respectively, is payable semi-annually on june 1 and december 1 of each year, which commenced december 1, 2012. the 2015 notes and 2022 notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price. the 201cmake-whole 201d redemption price represents a price, subject to the specific terms of the 2015 and 2022 notes and related indenture, that is the greater of (a) par value and (b) the present value of future payments that will not be paid because of an early redemption, which is discounted at a fixed spread over a comparable treasury security. the 2015 notes and 2022 notes were issued at a discount of $5 million that is being amortized over the term of the notes. the company incurred approximately $7 million of debt issuance costs, which are being amortized over the respective terms of the 2015 notes and 2022 notes. at december 31, 2013, $5 million of unamortized debt issuance costs was included in other assets on the consolidated statement of financial condition. 2013 and 2021 notes. in may 2011, the company issued $1.5 billion in aggregate principal amount of unsecured unsubordinated obligations. these notes were issued as two separate series of senior debt securities including $750 million of 4.25% (4.25%) notes maturing in may 2021 and $750 million of floating rate notes (201c2013 floating rate notes 201d), which were repaid in may 2013 at maturity. net proceeds of this offering were used to fund the repurchase of blackrock 2019s series b preferred from affiliates of merrill lynch & co., inc. (201cmerrill lynch 201d). interest on the 4.25% (4.25%) notes due in 2021 (201c2021 notes 201d) is payable semi-annually on may 24 and november 24 of each year, which commenced november 24, 2011, and is approximately $32 million per year. the 2021 notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price. the 2021 notes were issued at a discount of $4 million that is being amortized over the term of the notes. the company incurred approximately $7 million of debt issuance costs for the $1.5 billion note issuances, which are being amortized over the respective terms of the notes. at december 31, 2013, $3 million of unamortized debt issuance costs was included in other assets on the consolidated statement of financial condition. in may 2011, in conjunction with the issuance of the 2013 floating rate notes, the company entered into a $750 million notional interest rate swap maturing in 2013 to hedge the future cash flows of its obligation at a fixed rate of 1.03% (1.03%). during the second quarter of 2013, the interest rate swap matured and the 2013 floating rate notes were fully repaid. 2012, 2014 and 2019 notes. in december 2009, the company issued $2.5 billion in aggregate principal amount of unsecured and unsubordinated obligations. these notes were issued as three separate series of senior debt securities including $0.5 billion of 2.25% (2.25%) notes, which were repaid in december 2012, $1.0 billion of 3.50% (3.50%) notes and $1.0 billion of 5.0% (5.0%) notes maturing in december 2014 and 2019, respectively. net proceeds of this offering were used to repay borrowings under the cp program, which was used to finance a portion of the acquisition of barclays global investors (201cbgi 201d) from barclays on december 1, 2009 (the 201cbgi transaction 201d), and for general corporate purposes. interest on the 2014 notes and 2019 notes of approximately $35 million and $50 million per year, respectively, is payable semi-annually in arrears on june 10 and december 10 of each year. these notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price. these notes were issued collectively at a discount of $5 million, which is being amortized over the respective terms of the notes. the company incurred approximately $13 million of debt issuance costs, which are being amortized over the respective terms of these notes. at december 31, 2013, $4 million of unamortized debt issuance costs was included in other assets on the consolidated statement of financial condition. 2017 notes. in september 2007, the company issued $700 million in aggregate principal amount of 6.25% (6.25%) senior unsecured and unsubordinated notes maturing on september 15, 2017 (the 201c2017 notes 201d). a portion of the net proceeds of the 2017 notes was used to fund the initial cash payment for the acquisition of the fund of funds business of quellos and the remainder was used for general corporate purposes. interest is payable semi-annually in arrears on march 15 and september 15 of each year, or approximately $44 million per year. the 2017 notes may be redeemed prior.
what is the difference between the fair and the carrying value of all notes? 345.0
and what was that carrying value for only the notes due in 2014? 1000.0
what was it for 2015? 750.0
what was, then, the total carrying value for both years? 1750.0
and including the 2017 notes, what becomes this total? | 2448.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | the analysis of our depreciation studies. changes in the estimated service lives of our assets and their related depreciation rates are implemented prospectively. under group depreciation, the historical cost (net of salvage) of depreciable property that is retired or replaced in the ordinary course of business is charged to accumulated depreciation and no gain or loss is recognized. the historical cost of certain track assets is estimated using (i) inflation indices published by the bureau of labor statistics and (ii) the estimated useful lives of the assets as determined by our depreciation studies. the indices were selected because they closely correlate with the major costs of the properties comprising the applicable track asset classes. because of the number of estimates inherent in the depreciation and retirement processes and because it is impossible to precisely estimate each of these variables until a group of property is completely retired, we continually monitor the estimated service lives of our assets and the accumulated depreciation associated with each asset class to ensure our depreciation rates are appropriate. in addition, we determine if the recorded amount of accumulated depreciation is deficient (or in excess) of the amount indicated by our depreciation studies. any deficiency (or excess) is amortized as a component of depreciation expense over the remaining service lives of the applicable classes of assets. for retirements of depreciable railroad properties that do not occur in the normal course of business, a gain or loss may be recognized if the retirement meets each of the following three conditions: (i) is unusual, (ii) is material in amount, and (iii) varies significantly from the retirement profile identified through our depreciation studies. a gain or loss is recognized in other income when we sell land or dispose of assets that are not part of our railroad operations. when we purchase an asset, we capitalize all costs necessary to make the asset ready for its intended use. however, many of our assets are self-constructed. a large portion of our capital expenditures is for replacement of existing track assets and other road properties, which is typically performed by our employees, and for track line expansion and other capacity projects. costs that are directly attributable to capital projects (including overhead costs) are capitalized. direct costs that are capitalized as part of self- constructed assets include material, labor, and work equipment. indirect costs are capitalized if they clearly relate to the construction of the asset. general and administrative expenditures are expensed as incurred. normal repairs and maintenance are also expensed as incurred, while costs incurred that extend the useful life of an asset, improve the safety of our operations or improve operating efficiency are capitalized. these costs are allocated using appropriate statistical bases. total expense for repairs and maintenance incurred was $2.4 billion for 2014, $2.3 billion for 2013, and $2.1 billion for 2012. assets held under capital leases are recorded at the lower of the net present value of the minimum lease payments or the fair value of the leased asset at the inception of the lease. amortization expense is computed using the straight-line method over the shorter of the estimated useful lives of the assets or the period of the related lease. 13. accounts payable and other current liabilities dec. 31, dec. 31, millions 2014 2013.
millions | dec. 31 2014 | dec. 312013
accounts payable | $877 | $803
dividends payable | 438 | 356
income and other taxes payable | 412 | 491
accrued wages and vacation | 409 | 385
accrued casualty costs | 249 | 207
interest payable | 178 | 169
equipment rents payable | 100 | 96
other | 640 | 579
total accounts payable and othercurrent liabilities | $3303 | $3086
.
what was the total expense for repairs and maintenance incurred in 2013? 2.3
and in 2012? 2.1
what was the difference between the two values? 0.2
and the specific value for 2012 again? 2.1
so what was the percentage change of this value? | 0.09524 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | 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
second quarter | 9.17 | 3.55 | second quarter | 52.25 | 39.95
third quarter | 4.61 | 1.56 | third quarter | 44.50 | 12.00
fourth quarter | 3.57 | 0.95 | fourth quarter | 17.80 | 11.60
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..
what was the variance in the price of common stock from low to high in the first quarter of 2002? 13.73
what was the high price of common stock in the first quarter of 2001? 60.15
and what was the low price? 41.3
what was, then, the variance in that price from low to high? 18.85
which one is greater: the variance of the price in the first quarter of 2002 or in the first quarter of 2001? | no |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | 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
foreign currency exchange contracts | $517 | $570
interest rate contracts | 2400 | 2150
commodity contracts | 361 | 320
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..
what was the accrued value of tax related interest and penalties in 2011? 16.0
what was the value decrease during the year? 3.0
what is the sum? 19.0
what was the value decrease during the year? 3.0
what is the decreased value divided by the prior sum? | 0.15789 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | tissue pulp due to strong market demand, partic- ularly from asia. average sales price realizations improved significantly in 2007, principally reflecting higher average prices for softwood, hardwood and fluff pulp. operating earnings in 2007 were $104 mil- lion compared with $48 million in 2006 and $37 mil- lion in 2005. the benefits from higher sales price realizations were partially offset by increased input costs for energy, chemicals and freight. entering the first quarter of 2008, demand for market pulp remains strong, and average sales price realiza- tions should increase slightly. however, input costs for energy, chemicals and freight are expected to be higher, and increased spending is anticipated for planned mill maintenance outages. industrial packaging demand for industrial packaging products is closely correlated with non-durable industrial goods pro- duction, as well as with demand for processed foods, poultry, meat and agricultural products. in addition to prices and volumes, major factors affecting the profitability of industrial packaging are raw material and energy costs, freight costs, manufacturing effi- ciency and product mix. industrial packaging net sales for 2007 increased 6% (6%) to $5.2 billion compared with $4.9 bil- lion in 2006, and 13% (13%) compared with $4.6 billion in 2005. operating profits in 2007 were 26% (26%) higher than in 2006 and more than double 2005 earnings. bene- fits from improved price realizations ($147 million), sales volume increases net of increased lack of order downtime ($3 million), a more favorable mix ($31 million), strong mill and converting operations ($33 million) and other costs ($47 million) were partially offset by the effects of higher raw material costs ($76 million) and higher freight costs ($18 million). in addition, a gain of $13 million was recognized in 2006 related to a sale of property in spain and costs of $52 million were incurred in 2007 related to the conversion of the paper machine at pensacola to production of lightweight linerboard. the segment took 165000 tons of downtime in 2007 which included 16000 tons of market-related downtime compared with 135000 tons of downtime in 2006 of which none was market-related. industrial packaging in millions 2007 2006 2005.
in millions | 2007 | 2006 | 2005
sales | $5245 | $4925 | $4625
operating profit | $501 | $399 | $219
north american industrial packaging net sales for 2007 were $3.9 billion, compared with $3.7 billion in 2006 and $3.6 billion in 2005. operating profits in 2007 were $407 million, up from $327 mil- lion in 2006 and $170 million in 2005. containerboard shipments were higher in 2007 compared with 2006, including production from the paper machine at pensacola that was converted to lightweight linerboard during 2007. average sales price realizations were significantly higher than in 2006 reflecting price increases announced early in 2006 and in the third quarter of 2007. margins improved reflecting stronger export demand. manu- facturing performance was strong, although costs associated with planned mill maintenance outages were higher due to timing of outages. raw material costs for wood, energy, chemicals and recycled fiber increased significantly. operating results for 2007 were also unfavorably impacted by $52 million of costs associated with the conversion and startup of the pensacola paper machine. u.s. converting sales volumes were slightly lower in 2007 compared with 2006 reflecting softer customer box demand. earnings improvement in 2007 bene- fited from the realization of box price increases announced in early 2006 and late 2007. favorable manufacturing operations and higher sales prices for waste fiber more than offset significantly higher raw material and freight costs. looking ahead to the first quarter of 2008, sales volumes are expected to increase slightly, and results should benefit from a full-quarter impact of the price increases announced in the third quarter of 2007. however, additional mill maintenance outages are planned for the first quarter, and freight and input costs are expected to rise, particularly for wood and energy. manufacturing operations should be favorable compared with the fourth quarter. european industrial packaging net sales for 2007 were $1.1 billion, up from $1.0 billion in 2006 and $880 million in 2005. sales volumes were about flat as early stronger demand in the industrial segment weakened in the second half of the year. operating profits in 2007 were $88 million compared with $69 million in 2006 and $53 million in 2005. sales margins improved reflecting increased sales prices for boxes. conversion costs were favorable as the result of manufacturing improvement programs. entering the first quarter of 2008, sales volumes should be strong seasonally across all regions as the winter fruit and vegetable season continues. profit margins, however, are expected to be somewhat lower..
in the year of 2007, what was the amount of the industrial packaging sales that was from europe, in millions? 1100.0
and what was the total of those sales? 5245.0
what percentage, then, of this total did that amount represent? | 0.20972 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | 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
beginning balance | $27 | $920 | $95
purchases (1) | 1 | 130 | 2014
disposals/payments received | -11 (11) | -594 (594) | 2014
accretion | -44 (44) | 44 | 2014
builds (reductions) to the allowance | 128 | 2014 | -18 (18)
increase to expected cash flows | -2 (2) | 19 | 2014
fx/other | 17 | -50 (50) | 2014
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..
what is the difference between the beginning balance carrying amount of loan receivables and allowance? | 825.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | notes to consolidated financial statements 2014 (continued) (amounts in millions, except per share amounts) a summary of the remaining liability for the 2007, 2003 and 2001 restructuring programs is as follows: program program program total.
- | 2007 program | 2003 program | 2001 program | total
liability at december 31 2006 | $2014 | $12.6 | $19.2 | $31.8
net charges (reversals) and adjustments | 19.1 | -0.5 (0.5) | -5.2 (5.2) | 13.4
payments and other1 | -7.2 (7.2) | -3.1 (3.1) | -5.3 (5.3) | -15.6 (15.6)
liability at december 31 2007 | $11.9 | $9.0 | $8.7 | $29.6
net charges and adjustments | 4.3 | 0.8 | 0.7 | 5.8
payments and other1 | -15.0 (15.0) | -4.1 (4.1) | -3.5 (3.5) | -22.6 (22.6)
liability at december 31 2008 | $1.2 | $5.7 | $5.9 | $12.8
1 includes amounts representing adjustments to the liability for changes in foreign currency exchange rates. other reorganization-related charges other reorganization-related charges relate to our realignment of our media businesses into a newly created management entity called mediabrands and the 2006 merger of draft worldwide and foote, cone and belding worldwide to create draftfcb. charges related to severance and terminations costs and lease termination and other exit costs. we expect charges associated with mediabrands to be completed during the first half of 2009. charges related to the creation of draftfcb in 2006 are complete. the charges were separated from the rest of our operating expenses within the consolidated statements of operations because they did not result from charges that occurred in the normal course of business..
what was the total liability by the end of 2008? 29.6
and what was it by the end of 2007? 12.8
what was, then, the change over the year? 16.8
what was the total liability by the end of 2008? 29.6
and how much does that change represent in relation to this 2008 total liability? 0.56757
how much is that in percentage? | 56.75676 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | impairment the following table presents net unrealized losses on securities available for sale as of december 31:.
(in millions) | 2011 | 2010
fair value | $99832 | $81881
amortized cost | 100013 | 82329
net unrealized loss pre-tax | $-181 (181) | $-448 (448)
net unrealized loss after-tax | $-113 (113) | $-270 (270)
the net unrealized amounts presented above excluded the remaining net unrealized losses related to reclassifications of securities available for sale to securities held to maturity. these unrealized losses related to reclassifications totaled $303 million, or $189 million after-tax, and $523 million, or $317 million after-tax, as of december 31, 2011 and 2010, respectively, and were recorded in accumulated other comprehensive income, or oci. refer to note 12 to the consolidated financial statements included under item 8. the decline in these remaining after-tax unrealized losses related to reclassifications from december 31, 2010 to december 31, 2011 resulted primarily from amortization. we conduct periodic reviews of individual securities to assess whether other-than-temporary impairment exists. to the extent that other-than-temporary impairment is identified, the impairment is broken into a credit component and a non-credit component. the credit component is recorded in our consolidated statement of income, and the non-credit component is recorded in oci to the extent that we do not intend to sell the security. our assessment of other-than-temporary impairment involves an evaluation, more fully described in note 3, of economic and security-specific factors. such factors are based on estimates, derived by management, which contemplate current market conditions and security-specific performance. to the extent that market conditions are worse than management 2019s expectations, other-than-temporary impairment could increase, in particular, the credit component that would be recorded in our consolidated statement of income. given the exposure of our investment securities portfolio, particularly mortgage- and asset-backed securities, to residential mortgage and other consumer credit risks, the performance of the u.s. housing market is a significant driver of the portfolio 2019s credit performance. as such, our assessment of other-than-temporary impairment relies to a significant extent on our estimates of trends in national housing prices. generally, indices that measure trends in national housing prices are published in arrears. as of september 30, 2011, national housing prices, according to the case-shiller national home price index, had declined by approximately 31.3% (31.3%) peak-to-current. overall, management 2019s expectation, for purposes of its evaluation of other-than-temporary impairment as of december 31, 2011, was that housing prices would decline by approximately 35% (35%) peak-to-trough. the performance of certain mortgage products and vintages of securities continues to deteriorate. in addition, management continues to believe that housing prices will decline further as indicated above. the combination of these factors has led to an increase in management 2019s overall loss expectations. our investment portfolio continues to be sensitive to management 2019s estimates of future cumulative losses. ultimately, other-than- temporary impairment is based on specific cusip-level detailed analysis of the unique characteristics of each security. in addition, we perform sensitivity analysis across each significant product type within the non-agency u.s. residential mortgage-backed portfolio. we estimate, for example, that other-than-temporary impairment of the investment portfolio could increase by approximately $10 million to $50 million, if national housing prices were to decline by 37% (37%) to 39% (39%) peak-to-trough, compared to management 2019s expectation of 35% (35%) described above. this sensitivity estimate is based on a number of factors, including, but not limited to, the level of housing prices and the timing of defaults. to the extent that such factors differ substantially from management 2019s current expectations, resulting loss estimates may differ materially from those stated. excluding the securities for which other-than-temporary impairment was recorded in 2011, management considers the aggregate decline in fair value of the remaining.
what was the total of unrealized losses related to reclassifications in 2011, before tax? 303.0
and what was it after tax? 189.0
what was, then, the impact of the tax on that total? | 114.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | part ii item 5. market for registrant 2019s common equity, related stockholder matters and issuer purchases of equity securities the following table presents reported quarterly high and low per share sale prices of our common stock on the new york stock exchange (201cnyse 201d) for the years 2010 and 2009..
2010 | high | low
quarter ended march 31 | $44.61 | $40.10
quarter ended june 30 | 45.33 | 38.86
quarter ended september 30 | 52.11 | 43.70
quarter ended december 31 | 53.14 | 49.61
2009 | high | low
quarter ended march 31 | $32.53 | $25.45
quarter ended june 30 | 34.52 | 27.93
quarter ended september 30 | 37.71 | 29.89
quarter ended december 31 | 43.84 | 35.03
on february 11, 2011, the closing price of our common stock was $56.73 per share as reported on the nyse. as of february 11, 2011, we had 397612895 outstanding shares of common stock and 463 registered holders. dividends we have not historically paid a dividend on our common stock. payment of dividends in the future, when, as and if authorized by our board of directors, would depend upon many factors, including our earnings and financial condition, restrictions under applicable law and our current and future loan agreements, our debt service requirements, our capital expenditure requirements and other factors that our board of directors may deem relevant from time to time, including the potential determination to elect reit status. in addition, the loan agreement for our revolving credit facility and term loan contain covenants that generally restrict our ability to pay dividends unless certain financial covenants are satisfied. for more information about the restrictions under the loan agreement for the revolving credit facility and term loan, our notes indentures and the loan agreement related to our securitization, see item 7 of this annual report under the caption 201cmanagement 2019s discussion and analysis of financial condition and results of operations 2014liquidity and capital resources 2014factors affecting sources of liquidity 201d and note 6 to our consolidated financial statements included in this annual report..
what was the closing price of the common stock in february of 2011? | 56.73 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | increased investment in programming to support subscriber growth, higher offer costs and continued investment in presto, partially offset by lower depreciation expense resulting from foxtel 2019s reassessment of the useful lives of cable and satellite installations. net income decreased as a result of the lower operating income noted above, partially offset by lower income tax expense. (b) other equity affiliates, net for the fiscal year ended june 30, 2016 includes losses primarily from the company 2019s interests in draftstars and elara technologies, which owns proptiger. interest, net 2014interest, net for the fiscal year ended june 30, 2016 decreased $13 million, or 23% (23%), as compared to fiscal 2015, primarily due to the negative impact of foreign currency fluctuations and interest expense associated with the rea facility. (see note 9 to the consolidated financial statements). other, net 2014 for the fiscal years ended june 30.
(in millions) | for the fiscal years ended june 30, 2016 | for the fiscal years ended june 30, 2015
gain on iproperty transaction (a) | $29 | $2014
impairment of marketable securities and cost method investments (b) | -21 (21) | -5 (5)
gain on sale of marketable securities (c) | 2014 | 29
dividends received from cost method investments | 2014 | 25
gain on sale of cost method investments | 2014 | 15
other | 10 | 11
total other net | $18 | $75
(a) rea group recognized a gain of $29 million resulting from the revaluation of its previously held equity interest in iproperty during the fiscal year ended june 30, 2016. (see note 3 to the consolidated financial statements). (b) the company recorded write-offs and impairments of certain investments in the fiscal years ended june 30, 2016 and 2015. these write-offs and impairments were taken either as a result of the deteriorating financial position of the investee or due to an other-than-temporary impairment resulting from sustained losses and limited prospects for recovery. (see note 6 to the consolidated financial statements.) (c) in august 2014, rea group completed the sale of a minority interest held in marketable securities for total cash consideration of $104 million. as a result of the sale, rea group recognized a pre-tax gain of $29 million, which was reclassified out of accumulated other comprehensive income and included in other, net in the statement of operations. income tax benefit (expense) 2014the company 2019s income tax benefit and effective tax rate for the fiscal year ended june 30, 2016 were $54 million and (30% (30%)), respectively, as compared to an income tax expense and effective tax rate of $185 million and 34% (34%), respectively, for fiscal 2015. for the fiscal years ended june 30, 2016 the company recorded a tax benefit of $54 million on pre-tax income of $181 million resulting in an effective tax rate that was lower than the u.s. statutory tax. the lower tax rate was primarily due to a tax benefit of approximately $106 million related to the release of previously established valuation allowances related to certain u.s. federal net operating losses and state deferred tax assets. this benefit was recognized in conjunction with management 2019s plan to dispose of the company 2019s digital education business in the first quarter of fiscal 2016, as the company now expects to generate sufficient u.s. taxable income to utilize these deferred tax assets prior to expiration. in addition, the effective tax rate was also impacted by the $29 million non-taxable gain resulting from the revaluation of rea group 2019s previously held equity interest in iproperty. for the fiscal year ended june 30, 2015, the company 2019s effective tax rate was lower than the u.s. statutory tax rate primarily due to the impact from foreign operations which are subject to lower tax rates, partially offset by the impact of nondeductible items and changes in our accrued liabilities for uncertain tax positions. (see note 18 to the consolidated financial statements)..
what was the decrease amount on the net interest from fiscal year 2015 to 2016? 13.0
and what was the equivalent of that as a percentage of the 2015 net interest? 0.23
considering, then, that decrease amount and how much it represents in relation to this 2015 net interest, what was the full amount of this net interest? | 56.52174 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | 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
sales | $2455 | $2245 | $2295
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.
in the year of 2006, what amount from the consumer packaging sales was due to foodservice net sales? | 396.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | 15. debt the tables below summarize our outstanding debt at 30 september 2016 and 2015: total debt.
30 september | 2016 | 2015
short-term borrowings | $935.8 | $1494.3
current portion of long-term debt | 371.3 | 435.6
long-term debt | 4918.1 | 3949.1
total debt | $6225.2 | $5879.0
short-term borrowings | - | -
30 september | 2016 | 2015
bank obligations | $133.1 | $234.3
commercial paper | 802.7 | 1260.0
total short-term borrowings | $935.8 | $1494.3
the weighted average interest rate of short-term borrowings outstanding at 30 september 2016 and 2015 was 1.1% (1.1%) and.8% (.8%), respectively. cash paid for interest, net of amounts capitalized, was $121.1 in 2016, $97.5 in 2015, and $132.4 in 2014..
what was the total of short-term borrowings in 2016? 935.8
and what was the current portion of long-term debt in that year? | 371.3 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | 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
2007 | 1703
2008 | 1371
2009 | 1035
2010 | 710
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.
what was the total of operating leases in 2007? | 1703.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | stock performance graph this performance graph shall not be deemed 201cfiled 201d for purposes of section 18 of the securities exchange act of 1934, as amended (the 201cexchange act 201d) or otherwise subject to the liabilities under that section and shall not be deemed to be incorporated by reference into any filing of tractor supply company under the securities act of 1933, as amended, or the exchange act. the following graph compares the cumulative total stockholder return on our common stock from december 28, 2013 to december 29, 2018 (the company 2019s fiscal year-end), with the cumulative total returns of the s&p 500 index and the s&p retail index over the same period. the comparison assumes that $100 was invested on december 28, 2013, in our common stock and in each of the foregoing indices and in each case assumes reinvestment of dividends. the historical stock price performance shown on this graph is not indicative of future performance..
- | 12/28/2013 | 12/27/2014 | 12/26/2015 | 12/31/2016 | 12/30/2017 | 12/29/2018
tractor supply company | $100.00 | $104.11 | $115.45 | $103.33 | $103.67 | $117.18
s&p 500 | $100.00 | $115.76 | $116.64 | $129.55 | $157.84 | $149.63
s&p retail index | $100.00 | $111.18 | $140.22 | $148.53 | $193.68 | $217.01
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what was the price of the tractor supply company stock in 2014? 104.11
and what was it in 2013? | 100.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | entergy new orleans, inc. management's financial discussion and analysis net revenue 2008 compared to 2007 net revenue consists of operating revenues net of: 1) fuel, fuel-related expenses, and gas purchased for resale, 2) purchased power expenses, and 3) other regulatory charges. following is an analysis of the change in net revenue comparing 2008 to 2007. amount (in millions).
- | amount (in millions)
2007 net revenue | $231.0
volume/weather | 15.5
net gas revenue | 6.6
rider revenue | 3.9
base revenue | -11.3 (11.3)
other | 7.0
2008 net revenue | $252.7
the volume/weather variance is due to an increase in electricity usage in the service territory in 2008 compared to the same period in 2007. entergy new orleans estimates that approximately 141000 electric customers and 93000 gas customers have returned since hurricane katrina and are taking service as of december 31, 2008, compared to approximately 132000 electric customers and 86000 gas customers as of december 31, 2007. billed retail electricity usage increased a total of 184 gwh compared to the same period in 2007, an increase of 4% (4%). the net gas revenue variance is primarily due to an increase in base rates in march and november 2007. refer to note 2 to the financial statements for a discussion of the base rate increase. the rider revenue variance is due primarily to higher total revenue and a storm reserve rider effective march 2007 as a result of the city council's approval of a settlement agreement in october 2006. the approved storm reserve has been set to collect $75 million over a ten-year period through the rider and the funds will be held in a restricted escrow account. the settlement agreement is discussed in note 2 to the financial statements. the base revenue variance is primarily due to a base rate recovery credit, effective january 2008. the base rate credit is discussed in note 2 to the financial statements. gross operating revenues and fuel and purchased power expenses gross operating revenues increased primarily due to: an increase of $58.9 million in gross wholesale revenue due to increased sales to affiliated customers and an increase in the average price of energy available for resale sales; an increase of $47.7 million in electric fuel cost recovery revenues due to higher fuel rates and increased electricity usage; and an increase of $22 million in gross gas revenues due to higher fuel recovery revenues and increases in gas base rates in march 2007 and november 2007. fuel and purchased power increased primarily due to increases in the average market prices of natural gas and purchased power in addition to an increase in demand..
what was the net change in revenue from 2007 to 2008? | 21.7 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | the defined benefit pension plans 2019 trust and $130 million to our retiree medical plans which will reduce our cash funding requirements for 2007 and 2008. in 2007, we expect to make no contributions to the defined benefit pension plans and expect to contribute $175 million to the retiree medical and life insurance plans, after giving consideration to the 2006 prepayments. the following benefit payments, which reflect expected future service, as appropriate, are expected to be paid: (in millions) pension benefits benefits.
(in millions) | pensionbenefits | otherbenefits
2007 | $1440 | $260
2008 | 1490 | 260
2009 | 1540 | 270
2010 | 1600 | 270
2011 | 1660 | 270
years 2012 2013 2016 | 9530 | 1260
as noted previously, we also sponsor nonqualified defined benefit plans to provide benefits in excess of qualified plan limits. the aggregate liabilities for these plans at december 31, 2006 were $641 million. the expense associated with these plans totaled $59 million in 2006, $58 million in 2005 and $61 million in 2004. we also sponsor a small number of foreign benefit plans. the liabilities and expenses associated with these plans are not material to our results of operations, financial position or cash flows. note 13 2013 leases our total rental expense under operating leases was $310 million, $324 million and $318 million for 2006, 2005 and 2004, respectively. future minimum lease commitments at december 31, 2006 for all operating leases that have a remaining term of more than one year were $1.1 billion ($288 million in 2007, $254 million in 2008, $211 million in 2009, $153 million in 2010, $118 million in 2011 and $121 million in later years). certain major plant facilities and equipment are furnished by the u.s. government under short-term or cancelable arrangements. note 14 2013 legal proceedings, commitments and contingencies we are a party to or have property subject to litigation and other proceedings, including matters arising under provisions relating to the protection of the environment. we believe the probability is remote that the outcome of these matters will have a material adverse effect on the corporation as a whole. we cannot predict the outcome of legal proceedings with certainty. these matters include the following items, all of which have been previously reported: on march 27, 2006, we received a subpoena issued by a grand jury in the united states district court for the northern district of ohio. the subpoena requests documents related to our application for patents issued in the united states and the united kingdom relating to a missile detection and warning technology. we are cooperating with the government 2019s investigation. on february 6, 2004, we submitted a certified contract claim to the united states requesting contractual indemnity for remediation and litigation costs (past and future) related to our former facility in redlands, california. we submitted the claim consistent with a claim sponsorship agreement with the boeing company (boeing), executed in 2001, in boeing 2019s role as the prime contractor on the short range attack missile (sram) program. the contract for the sram program, which formed a significant portion of our work at the redlands facility, had special contractual indemnities from the u.s. air force, as authorized by public law 85-804. on august 31, 2004, the united states denied the claim. our appeal of that decision is pending with the armed services board of contract appeals. on august 28, 2003, the department of justice (the doj) filed complaints in partial intervention in two lawsuits filed under the qui tam provisions of the civil false claims act in the united states district court for the western district of kentucky, united states ex rel. natural resources defense council, et al v. lockheed martin corporation, et al, and united states ex rel. john d. tillson v. lockheed martin energy systems, inc., et al. the doj alleges that we committed violations of the resource conservation and recovery act at the paducah gaseous diffusion plant by not properly handling, storing.
what is the rental expense under operating leases in 2005? | 324.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | the future minimum lease commitments under these leases at december 31, 2010 are as follows (in thousands): years ending december 31:.
2011 | $62465
2012 | 54236
2013 | 47860
2014 | 37660
2015 | 28622
thereafter | 79800
future minimum lease payments | $310643
rental expense for operating leases was approximately $66.9 million, $57.2 million and $49.0 million during the years ended december 31, 2010, 2009 and 2008, respectively. in connection with the acquisitions of several businesses, we entered into agreements with several sellers of those businesses, some of whom became stockholders as a result of those acquisitions, for the lease of certain properties used in our operations. typical lease terms under these agreements include an initial term of five years, with three to five five-year renewal options and purchase options at various times throughout the lease periods. we also maintain the right of first refusal concerning the sale of the leased property. lease payments to an employee who became an officer of the company after the acquisition of his business were approximately $1.0 million, $0.9 million and $0.9 million during each of the years ended december 31, 2010, 2009 and 2008, respectively. we guarantee the residual values of the majority of our truck and equipment operating leases. the residual values decline over the lease terms to a defined percentage of original cost. in the event the lessor does not realize the residual value when a piece of equipment is sold, we would be responsible for a portion of the shortfall. similarly, if the lessor realizes more than the residual value when a piece of equipment is sold, we would be paid the amount realized over the residual value. had we terminated all of our operating leases subject to these guarantees at december 31, 2010, the guaranteed residual value would have totaled approximately $31.4 million. we have not recorded a liability for the guaranteed residual value of equipment under operating leases as the recovery on disposition of the equipment under the leases is expected to approximate the guaranteed residual value. litigation and related contingencies in december 2005 and may 2008, ford global technologies, llc filed complaints with the international trade commission against us and others alleging that certain aftermarket parts imported into the u.s. infringed on ford design patents. the parties settled these matters in april 2009 pursuant to a settlement arrangement that expires in september 2011. pursuant to the settlement, we (and our designees) became the sole distributor in the u.s. of aftermarket automotive parts that correspond to ford collision parts that are covered by a u.s. design patent. we have paid ford an upfront fee for these rights and will pay a royalty for each such part we sell. the amortization of the upfront fee and the royalty expenses are reflected in cost of goods sold on the accompanying consolidated statements of income. we also have certain other contingencies resulting from litigation, claims and other commitments and are subject to a variety of environmental and pollution control laws and regulations incident to the ordinary course of business. we currently expect that the resolution of such contingencies will not materially affect our financial position, results of operations or cash flows..
between the years of 2008 and 2009, what was the change in the rental expense? 8.2
and what is this change as a percentage of that expense in 2008? | 0.16735 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | the fair value of the psu award at the date of grant is amortized to expense over the performance period, which is typically three years after the date of the award, or upon death, disability or reaching the age of 58. as of december 31, 2017, pmi had $34 million of total unrecognized compensation cost related to non-vested psu awards. this cost is recognized over a weighted-average performance cycle period of two years, or upon death, disability or reaching the age of 58. during the years ended december 31, 2017, and 2016, there were no psu awards that vested. pmi did not grant any psu awards during note 10. earnings per share: unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents are participating securities and therefore are included in pmi 2019s earnings per share calculation pursuant to the two-class method. basic and diluted earnings per share (201ceps 201d) were calculated using the following:.
(in millions) | for the years ended december 31, 2017 | for the years ended december 31, 2016 | for the years ended december 31, 2015
net earnings attributable to pmi | $6035 | $6967 | $6873
less distributed and undistributed earnings attributable to share-based payment awards | 14 | 19 | 24
net earnings for basic and diluted eps | $6021 | $6948 | $6849
weighted-average shares for basic eps | 1552 | 1551 | 1549
plus contingently issuable performance stock units (psus) | 1 | 2014 | 2014
weighted-average shares for diluted eps | 1553 | 1551 | 1549
for the 2017, 2016 and 2015 computations, there were no antidilutive stock options..
what was the net change in value of net earnings attributable to pmi from 2016 to 2017? | -932.0 |