answer
stringlengths
2
16
text
stringlengths
520
16.2k
instruction
stringclasses
1 value
0.85464
Context:synopsys , inc . notes to consolidated financial statements 2014continued the aggregate purchase price consideration was approximately us$ 417.0 million . as of october 31 , 2012 , the total purchase consideration and the preliminary purchase price allocation were as follows: . ||( in thousands )| |cash paid|$ 373519| |fair value of shares to be acquired through a follow-on merger|34054| |fair value of equity awards allocated to purchase consideration|9383| |total purchase consideration|$ 416956| |goodwill|247482| |identifiable intangibles assets acquired|108867| |cash and other assets acquired|137222| |liabilities assumed|-76615 ( 76615 )| |total purchase allocation|$ 416956| goodwill of $ 247.5 million , which is generally not deductible for tax purposes , primarily resulted from the company 2019s expectation of sales growth and cost synergies from the integration of springsoft 2019s technology and operations with the company 2019s technology and operations . identifiable intangible assets , consisting primarily of technology , customer relationships , backlog and trademarks , were valued using the income method , and are being amortized over three to eight years . acquisition-related costs directly attributable to the business combination were $ 6.6 million for fiscal 2012 and were expensed as incurred in the consolidated statements of operations . these costs consisted primarily of employee separation costs and professional services . fair value of equity awards : pursuant to the merger agreement , the company assumed all the unvested outstanding stock options of springsoft upon the completion of the merger and the vested options were exchanged for cash in the merger . on october 1 , 2012 , the date of the completion of the tender offer , the fair value of the awards to be assumed and exchanged was $ 9.9 million , calculated using the black-scholes option pricing model . the black-scholes option-pricing model incorporates various subjective assumptions including expected volatility , expected term and risk-free interest rates . the expected volatility was estimated by a combination of implied and historical stock price volatility of the options . non-controlling interest : non-controlling interest represents the fair value of the 8.4% ( 8.4 % ) of outstanding springsoft shares that were not acquired during the tender offer process completed on october 1 , 2012 and the fair value of the option awards that were to be assumed or exchanged for cash upon the follow-on merger . the fair value of the non-controlling interest included as part of the aggregate purchase consideration was $ 42.8 million and is disclosed as a separate line in the october 31 , 2012 consolidated statements of stockholders 2019 equity . during the period between the completion of the tender offer and the end of the company 2019s fiscal year on october 31 , 2012 , the non-controlling interest was adjusted by $ 0.5 million to reflect the non-controlling interest 2019s share of the operating loss of springsoft in that period . as the amount is not significant , it has been included as part of other income ( expense ) , net , in the consolidated statements of operations. . Question: what percentage of the total purchase consideration is comprised of goodwill and identifiable intangibles assets acquired?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
-0.25147
Context:the fair value of performance awards is calculated using the market value of a share of snap-on 2019s common stock on the date of grant . the weighted-average grant date fair value of performance awards granted during 2013 , 2012 and 2011 was $ 77.33 , $ 60.00 and $ 55.97 , respectively . vested performance share units approximated 148000 shares as of 2013 year end , 213000 shares as of 2012 year end and 54208 shares as of 2011 year end . performance share units of 213459 shares were paid out in 2013 and 53990 shares were paid out in 2012 ; no performance share units were paid out in 2011 . earned performance share units are generally paid out following the conclusion of the applicable performance period upon approval by the organization and executive compensation committee of the company 2019s board of directors ( the 201cboard 201d ) . based on the company 2019s 2013 performance , 84413 rsus granted in 2013 were earned ; assuming continued employment , these rsus will vest at the end of fiscal 2015 . based on the company 2019s 2012 performance , 95047 rsus granted in 2012 were earned ; assuming continued employment , these rsus will vest at the end of fiscal 2014 . based on the company 2019s 2011 performance , 159970 rsus granted in 2011 were earned ; these rsus vested as of fiscal 2013 year end and were paid out shortly thereafter . as a result of employee retirements , a total of 1614 of the rsus earned in 2012 and 2011 vested pursuant to the terms of the related award agreements and the underlying shares were paid out in the third quarter of 2013 . the changes to the company 2019s non-vested performance awards in 2013 are as follows : shares ( in thousands ) fair value price per share* . ||shares ( in thousands )|fair valueprice pershare*| |non-vested performance awards at beginning of year|509|$ 59.36| |granted|180|77.33| |vested|-306 ( 306 )|58.94| |cancellations|-2 ( 2 )|69.23| |non-vested performance awards at end of year|381|68.13| * weighted-average as of 2013 year end there was approximately $ 12.9 million of unrecognized compensation cost related to non-vested performance awards that is expected to be recognized as a charge to earnings over a weighted-average period of 1.6 years . stock appreciation rights ( 201csars 201d ) the company also issues cash-settled and stock-settled sars to certain key non-u.s . employees . sars have a contractual term of ten years and vest ratably on the first , second and third anniversaries of the date of grant . sars are granted with an exercise price equal to the market value of a share of snap-on 2019s common stock on the date of grant . cash-settled sars provide for the cash payment of the excess of the fair market value of snap-on 2019s common stock price on the date of exercise over the grant price . cash-settled sars have no effect on dilutive shares or shares outstanding as any appreciation of snap-on 2019s common stock value over the grant price is paid in cash and not in common stock . in 2013 , the company began issuing stock-settled sars that are accounted for as equity instruments and provide for the issuance of snap-on common stock equal to the amount by which the company 2019s stock has appreciated over the exercise price . stock-settled sars have an effect on dilutive shares and shares outstanding as any appreciation of snap-on 2019s common stock value over the exercise price will be settled in shares of common stock . 2013 annual report 101 . Question: what is the percentage change in the number of non-vested performance awards from 2012 to 2013?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
80481.0
Context:jpmorgan chase & co./2010 annual report 197 the following table shows the current credit risk of derivative receivables after netting adjustments , and the current liquidity risk of derivative payables after netting adjustments , as of december 31 , 2010 and 2009. . |december 31 ( in millions )|derivative receivables 2010|derivative receivables 2009|derivative receivables 2010|2009| |gross derivative fair value|$ 1529412|$ 1565518|$ 1485109|$ 1519183| |netting adjustment 2013offsettingreceivables/payables|-1376969 ( 1376969 )|-1419840 ( 1419840 )|-1376969 ( 1376969 )|-1419840 ( 1419840 )| |netting adjustment 2013 cashcollateral received/paid|-71962 ( 71962 )|-65468 ( 65468 )|-38921 ( 38921 )|-39218 ( 39218 )| |carrying value onconsolidated balancesheets|$ 80481|$ 80210|$ 69219|$ 60125| in addition to the collateral amounts reflected in the table above , at december 31 , 2010 and 2009 , the firm had received liquid securi- ties and other cash collateral in the amount of $ 16.5 billion and $ 15.5 billion , respectively , and had posted $ 10.9 billion and $ 11.7 billion , respectively . the firm also receives and delivers collateral at the initiation of derivative transactions , which is available as secu- rity against potential exposure that could arise should the fair value of the transactions move in the firm 2019s or client 2019s favor , respectively . furthermore , the firm and its counterparties hold collateral related to contracts that have a non-daily call frequency for collateral to be posted , and collateral that the firm or a counterparty has agreed to return but has not yet settled as of the reporting date . at december 31 , 2010 and 2009 , the firm had received $ 18.0 billion and $ 16.9 billion , respectively , and delivered $ 8.4 billion and $ 5.8 billion , respectively , of such additional collateral . these amounts were not netted against the derivative receivables and payables in the table above , because , at an individual counterparty level , the collateral exceeded the fair value exposure at december 31 , 2010 and 2009 . credit derivatives credit derivatives are financial instruments whose value is derived from the credit risk associated with the debt of a third-party issuer ( the reference entity ) and which allow one party ( the protection purchaser ) to transfer that risk to another party ( the protection seller ) . credit derivatives expose the protection purchaser to the creditworthiness of the protection seller , as the protection seller is required to make payments under the contract when the reference entity experiences a credit event , such as a bankruptcy , a failure to pay its obligation or a restructuring . the seller of credit protection receives a premium for providing protection but has the risk that the underlying instrument referenced in the contract will be subject to a credit event . the firm is both a purchaser and seller of protection in the credit derivatives market and uses these derivatives for two primary purposes . first , in its capacity as a market-maker in the dealer/client business , the firm actively risk manages a portfolio of credit derivatives by purchasing and selling credit protection , pre- dominantly on corporate debt obligations , to meet the needs of customers . as a seller of protection , the firm 2019s exposure to a given reference entity may be offset partially , or entirely , with a contract to purchase protection from another counterparty on the same or similar reference entity . second , the firm uses credit derivatives to mitigate credit risk associated with its overall derivative receivables and traditional commercial credit lending exposures ( loans and unfunded commitments ) as well as to manage its exposure to residential and commercial mortgages . see note 3 on pages 170 2013 187 of this annual report for further information on the firm 2019s mortgage-related exposures . in accomplishing the above , the firm uses different types of credit derivatives . following is a summary of various types of credit derivatives . credit default swaps credit derivatives may reference the credit of either a single refer- ence entity ( 201csingle-name 201d ) or a broad-based index . the firm purchases and sells protection on both single- name and index- reference obligations . single-name cds and index cds contracts are otc derivative contracts . single-name cds are used to manage the default risk of a single reference entity , while index cds con- tracts are used to manage the credit risk associated with the broader credit markets or credit market segments . like the s&p 500 and other market indices , a cds index comprises a portfolio of cds across many reference entities . new series of cds indices are periodically established with a new underlying portfolio of reference entities to reflect changes in the credit markets . if one of the refer- ence entities in the index experiences a credit event , then the reference entity that defaulted is removed from the index . cds can also be referenced against specific portfolios of reference names or against customized exposure levels based on specific client de- mands : for example , to provide protection against the first $ 1 million of realized credit losses in a $ 10 million portfolio of expo- sure . such structures are commonly known as tranche cds . for both single-name cds contracts and index cds contracts , upon the occurrence of a credit event , under the terms of a cds contract neither party to the cds contract has recourse to the reference entity . the protection purchaser has recourse to the protection seller for the difference between the face value of the cds contract and the fair value of the reference obligation at the time of settling the credit derivative contract , also known as the recovery value . the protection purchaser does not need to hold the debt instrument of the underlying reference entity in order to receive amounts due under the cds contract when a credit event occurs . credit-related notes a credit-related note is a funded credit derivative where the issuer of the credit-related note purchases from the note investor credit protec- tion on a referenced entity . under the contract , the investor pays the issuer the par value of the note at the inception of the transaction , and in return , the issuer pays periodic payments to the investor , based on the credit risk of the referenced entity . the issuer also repays the investor the par value of the note at maturity unless the reference entity experiences a specified credit event . if a credit event . Question: what was the maximum amount of credit risk booked in the last four years , in billions?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
36.86
Context:2018 annual report 23 five-year stock performance graph the graph below illustrates the cumulative total shareholder return on snap-on common stock since december 31 , 2013 , of a $ 100 investment , assuming that dividends were reinvested quarterly . the graph compares snap-on 2019s performance to that of the standard & poor 2019s 500 industrials index ( 201cs&p 500 industrials 201d ) and standard & poor 2019s 500 stock index ( 201cs&p 500 201d ) . fiscal year ended ( 1 ) snap-on incorporated s&p 500 industrials s&p 500 . |fiscal year ended ( 1 )|snap-onincorporated|s&p 500industrials|s&p 500| |december 31 2013|$ 100.00|$ 100.00|$ 100.00| |december 31 2014|126.77|109.83|113.69| |december 31 2015|161.15|107.04|115.26| |december 31 2016|163.63|127.23|129.05| |december 31 2017|169.61|153.99|157.22| |december 31 2018|144.41|133.53|150.33| ( 1 ) the company 2019s 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. . Question: what was the percent change in the snap-on performance from 2015 to 2016
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
38.06977
Context:issuer purchases of equity securities during the three months ended december 31 , 2007 , we repurchased 8895570 shares of our class a common stock for an aggregate of $ 385.1 million pursuant to the $ 1.5 billion stock repurchase program publicly announced in february 2007 , as follows : period total number of shares purchased ( 1 ) average price paid per share total number of shares purchased as part of publicly announced plans or programs approximate dollar value of shares that may yet be purchased under the plans or programs ( in millions ) . |period|total number of shares purchased ( 1 )|average price paid per share|total number of shares purchased as part of publicly announced plans or programs|approximate dollar value of shares that may yet be purchased under the plans or programs ( in millions )| |october 2007|3493426|$ 43.30|3493426|$ 449.9| |november 2007|2891719|$ 44.16|2891719|$ 322.2| |december 2007|2510425|$ 44.20|2510425|$ 216.2| |total fourth quarter|8895570|$ 43.27|8895570|$ 216.2| ( 1 ) issuer repurchases pursuant to the $ 1.5 billion stock repurchase program publicly announced in february 2007 . under this program , our management was authorized through february 2008 to purchase shares from time to time through open market purchases or privately negotiated transactions at prevailing prices as permitted by securities laws and other legal requirements , and subject to market conditions and other factors . to facilitate repurchases , we typically made purchases pursuant to trading plans under rule 10b5-1 of the exchange act , which allow us to repurchase shares during periods when we otherwise might be prevented from doing so under insider trading laws or because of self-imposed trading blackout periods . subsequent to december 31 , 2007 , we repurchased 4.3 million shares of our class a common stock for an aggregate of $ 163.7 million pursuant to this program . in february 2008 , our board of directors approved a new stock repurchase program , pursuant to which we are authorized to purchase up to an additional $ 1.5 billion of our class a common stock . purchases under this stock repurchase program are subject to us having available cash to fund repurchases , as further described in item 1a of this annual report under the caption 201crisk factors 2014we anticipate that we may need additional financing to fund our stock repurchase programs , to refinance our existing indebtedness and to fund future growth and expansion initiatives 201d and 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 . 201d . Question: in q1 2008 , what was the average cost per share for repurchased shares in that quarter?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
3633.0
Context:period . the discount reflects our incremental borrowing rate , which matches the lifetime of the liability . significant changes in the discount rate selected or the estimations of sublease income in the case of leases could impact the amounts recorded . other associated costs with restructuring activities we recognize other costs associated with restructuring activities as they are incurred , including moving costs and consulting and legal fees . pensions we sponsor defined benefit pension plans throughout the world . our most significant plans are located in the u.s. , the u.k. , the netherlands and canada . our significant u.s. , u.k . and canadian pension plans are closed to new entrants . we have ceased crediting future benefits relating to salary and service for our u.s. , u.k . and canadian plans . recognition of gains and losses and prior service certain changes in the value of the obligation and in the value of plan assets , which may occur due to various factors such as changes in the discount rate and actuarial assumptions , actual demographic experience and/or plan asset performance are not immediately recognized in net income . such changes are recognized in other comprehensive income and are amortized into net income as part of the net periodic benefit cost . unrecognized gains and losses that have been deferred in other comprehensive income , as previously described , are amortized into compensation and benefits expense as a component of periodic pension expense based on the average expected future service of active employees for our plans in the netherlands and canada , or the average life expectancy of the u.s . and u.k . plan members . after the effective date of the plan amendments to cease crediting future benefits relating to service , unrecognized gains and losses are also be based on the average life expectancy of members in the canadian plans . we amortize any prior service expense or credits that arise as a result of plan changes over a period consistent with the amortization of gains and losses . as of december 31 , 2013 , our pension plans have deferred losses that have not yet been recognized through income in the consolidated financial statements . we amortize unrecognized actuarial losses outside of a corridor , which is defined as 10% ( 10 % ) of the greater of market-related value of plan assets or projected benefit obligation . to the extent not offset by future gains , incremental amortization as calculated above will continue to affect future pension expense similarly until fully amortized . the following table discloses our combined experience loss , the number of years over which we are amortizing the experience loss , and the estimated 2014 amortization of loss by country ( amounts in millions ) : . ||u.k .|u.s .|other| |combined experience loss|$ 2012|$ 1219|$ 402| |amortization period ( in years )|29|26|11 - 23| |estimated 2014 amortization of loss|$ 53|$ 44|$ 10| the unrecognized prior service cost at december 31 , 2013 was $ 27 million in the u.k . and other plans . for the u.s . pension plans we use a market-related valuation of assets approach to determine the expected return on assets , which is a component of net periodic benefit cost recognized in the consolidated statements of income . this approach recognizes 20% ( 20 % ) of any gains or losses in the current year's value of market-related assets , with the remaining 80% ( 80 % ) spread over the next four years . as this approach recognizes gains or losses over a five-year period , the future value of assets and therefore , our net periodic benefit cost will be impacted as previously deferred gains or losses are recorded . as of december 31 , 2013 , the market-related value of assets was $ 1.8 billion . we do not use the market-related valuation approach to determine the funded status of the u.s . plans recorded in the consolidated statements of financial position . instead , we record and present the funded status in the consolidated statements of financial position based on the fair value of the plan assets . as of december 31 , 2013 , the fair value of plan assets was $ 1.9 billion . our non-u.s . plans use fair value to determine expected return on assets. . Question: what is the total combined experience loss aon , ( in millions ) ?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
4.75
Context:consolidated income statement review net income for 2009 was $ 2.4 billion and for 2008 was $ 914 million . amounts for 2009 include operating results of national city and the fourth quarter impact of a $ 687 million after-tax gain related to blackrock 2019s acquisition of bgi . increases in income statement comparisons to 2008 , except as noted , are primarily due to the operating results of national city . our consolidated income statement is presented in item 8 of this report . net interest income and net interest margin year ended december 31 dollars in millions 2009 2008 . |year ended december 31 dollars in millions|2009|2008| |net interest income|$ 9083|$ 3854| |net interest margin|3.82% ( 3.82 % )|3.37% ( 3.37 % )| changes in net interest income and margin result from the interaction of the volume and composition of interest-earning assets and related yields , interest-bearing liabilities and related rates paid , and noninterest-bearing sources of funding . see statistical information 2013 analysis of year-to-year changes in net interest ( unaudited ) income and average consolidated balance sheet and net interest analysis in item 8 of this report for additional information . higher net interest income for 2009 compared with 2008 reflected the increase in average interest-earning assets due to national city and the improvement in the net interest margin . the net interest margin was 3.82% ( 3.82 % ) for 2009 and 3.37% ( 3.37 % ) for 2008 . the following factors impacted the comparison : 2022 a decrease in the rate accrued on interest-bearing liabilities of 97 basis points . the rate accrued on interest-bearing deposits , the largest component , decreased 107 basis points . 2022 these factors were partially offset by a 45 basis point decrease in the yield on interest-earning assets . the yield on loans , which represented the largest portion of our earning assets in 2009 , decreased 30 basis points . 2022 in addition , the impact of noninterest-bearing sources of funding decreased 7 basis points . for comparing to the broader market , the average federal funds rate was .16% ( .16 % ) for 2009 compared with 1.94% ( 1.94 % ) for 2008 . we expect our net interest income for 2010 will likely be modestly lower as a result of cash recoveries on purchased impaired loans in 2009 and additional run-off of higher- yielding assets , which could be mitigated by rising interest rates . this assumes our current expectations for interest rates and economic conditions 2013 we include our current economic assumptions underlying our forward-looking statements in the cautionary statement regarding forward-looking information section of this item 7 . noninterest income summary noninterest income was $ 7.1 billion for 2009 and $ 2.4 billion for 2008 . noninterest income for 2009 included the following : 2022 the gain on blackrock/bgi transaction of $ 1.076 billion , 2022 net credit-related other-than-temporary impairments ( otti ) on debt and equity securities of $ 577 million , 2022 net gains on sales of securities of $ 550 million , 2022 gains on hedging of residential mortgage servicing rights of $ 355 million , 2022 valuation and sale income related to our commercial mortgage loans held for sale , net of hedges , of $ 107 million , 2022 gains of $ 103 million related to our blackrock ltip shares adjustment in the first quarter , and net losses on private equity and alternative investments of $ 93 million . noninterest income for 2008 included the following : 2022 net otti on debt and equity securities of $ 312 million , 2022 gains of $ 246 million related to our blackrock ltip shares adjustment , 2022 valuation and sale losses related to our commercial mortgage loans held for sale , net of hedges , of $ 197 million , 2022 impairment and other losses related to private equity and alternative investments of $ 180 million , 2022 income from hilliard lyons totaling $ 164 million , including the first quarter gain of $ 114 million from the sale of this business , 2022 net gains on sales of securities of $ 106 million , and 2022 a gain of $ 95 million related to the redemption of a portion of our visa class b common shares related to visa 2019s march 2008 initial public offering . additional analysis asset management revenue increased $ 172 million to $ 858 million in 2009 , compared with $ 686 million in 2008 . this increase reflected improving equity markets , new business generation and a shift in assets into higher yielding equity investments during the second half of 2009 . assets managed totaled $ 103 billion at both december 31 , 2009 and 2008 , including the impact of national city . the asset management group section of the business segments review section of this item 7 includes further discussion of assets under management . consumer services fees totaled $ 1.290 billion in 2009 compared with $ 623 million in 2008 . service charges on deposits totaled $ 950 million for 2009 and $ 372 million for 2008 . both increases were primarily driven by the impact of the national city acquisition . reduced consumer spending . Question: what was the average of noninterest income in 2008 and 2009 , in billions?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
10753.28
Context:stock performance graph the following graph compares our cumulative shareholder returns with the standard & poor 2019s information technology index and the standard & poor 2019s 500 index for the year ended december 31 , 2017 , the 2016 fiscal transition period , and the years ended may 31 , 2016 , 2015 , 2014 and 2013 . the line graph assumes the investment of $ 100 in our common stock , the standard & poor 2019s 500 index and the standard & poor 2019s information technology index on may 31 , 2012 and assumes reinvestment of all dividends . 5/12 5/165/155/145/13 global payments inc . s&p 500 s&p information technology 12/16 12/17 comparison of 5 year cumulative total return* among global payments inc. , the s&p 500 index and the s&p information technology index * $ 100 invested on may 31 , 2012 in stock or index , including reinvestment of dividends . copyright a9 2018 standard & poor 2019s , a division of s&p global . all rights reserved . global payments 500 index information technology . ||globalpayments|s&p500 index|s&pinformationtechnology index| |may 31 2012|$ 100.00|$ 100.00|$ 100.00| |may 31 2013|113.10|127.28|115.12| |may 31 2014|161.90|153.30|142.63| |may 31 2015|246.72|171.40|169.46| |may 31 2016|367.50|174.34|174.75| |december 31 2016|328.42|188.47|194.08| |december 31 2017|474.52|229.61|269.45| 30 2013 global payments inc . | 2017 form 10-k annual report . Question: what is the total return if 1000000 is invested in global payments in may 31 , 2012 and liquidated in may 31 , 2015?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
159126241.87146
Context:part ii item 5 : market for registrant's common equity , related stockholder matters and issuer purchases of equity securities motorola's common stock is listed on the new york and chicago stock exchanges . the number of stockholders of record of motorola common stock on january 31 , 2006 was 80799 . the remainder of the response to this item incorporates by reference note 15 , ""quarterly and other financial data ( unaudited ) '' of the notes to consolidated financial statements appearing under ""item 8 : financial statements and supplementary data'' . the following table provides information with respect to acquisitions by the company of shares of its common stock during the quarter ended december 31 , 2005 . issuer purchases of equity securities ( d ) maximum number ( c ) total number ( or approximate dollar of shares purchased value ) of shares that ( a ) total number ( b ) average price as part of publicly may yet be purchased of shares paid per announced plans under the plans or period purchased ( 2 ) share ( 2 ) ( 3 ) or programs ( 1 ) programs ( 1 ) . |period|( a ) total number of shares purchased ( 2 )|( b ) average price paid per share ( 2 ) ( 3 )|( c ) total number of shares purchased as part of publicly announced plans or programs ( 1 )|( d ) maximum number ( or approximate dollar value ) of shares that may yet be purchased under the plans or programs ( 1 )| |10/2/05 to 10/29/05|5506400|$ 21.16|5506400|$ 3367111278| |10/30/05 to 11/26/05|4968768|$ 22.59|4947700|$ 3257373024| |11/27/05 to 12/31/05|5824970|$ 23.26|5503500|$ 3128512934| |total|16300138|$ 22.26|15957600|| ( 1 ) on may 18 , 2005 , the company announced that its board of directors authorized the company to repurchase up to $ 4.0 billion of its outstanding shares of common stock over a 36-month period ending on may 31 , 2008 , subject to market conditions ( the ""stock repurchase program'' ) . ( 2 ) in addition to purchases under the stock repurchase program , included in this column are transactions under the company's equity compensation plans involving the delivery to the company of 342415 shares of motorola common stock to satisfy tax withholding obligations in connection with the vesting of restricted stock granted to company employees and the surrender of 123 shares of motorola common stock to pay the option exercise price in connection with the exercise of employee stock options . ( 3 ) average price paid per share of stock repurchased under the stock repurchase program is execution price , excluding commissions paid to brokers. . Question: approximately how many shares can be purchased with the maximum amount given for the period between 10/2/05 and 10/29/05 , given the same average share price?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
0.017
Context:2016 compared with 2015 net gains on investments of $ 57 million in 2016 decreased $ 52 million from 2015 due to lower net gains in 2016 . net gains on investments in 2015 included a $ 40 million gain related to the bkca acquisition and a $ 35 million unrealized gain on a private equity investment . interest and dividend income increased $ 14 million from 2015 primarily due to higher dividend income in 2016 . 2015 compared with 2014 net gains on investments of $ 109 million in 2015 decreased $ 45 million from 2014 due to lower net gains in 2015 . net gains on investments in 2015 included a $ 40 million gain related to the bkca acquisition and a $ 35 million unrealized gain on a private equity investment . net gains on investments in 2014 included the positive impact of the monetization of a nonstrategic , opportunistic private equity investment . interest expense decreased $ 28 million from 2014 primarily due to repayments of long-term borrowings in the fourth quarter of 2014 . income tax expense . |( in millions )|gaap 2016|gaap 2015|gaap 2014|gaap 2016|gaap 2015|2014| |operating income ( 1 )|$ 4570|$ 4664|$ 4474|$ 4674|$ 4695|$ 4563| |total nonoperating income ( expense ) ( 1 ) ( 2 )|-108 ( 108 )|-69 ( 69 )|-49 ( 49 )|-108 ( 108 )|-70 ( 70 )|-56 ( 56 )| |income before income taxes ( 2 )|$ 4462|$ 4595|$ 4425|$ 4566|$ 4625|$ 4507| |income tax expense|$ 1290|$ 1250|$ 1131|$ 1352|$ 1312|$ 1197| |effective tax rate|28.9% ( 28.9 % )|27.2% ( 27.2 % )|25.6% ( 25.6 % )|29.6% ( 29.6 % )|28.4% ( 28.4 % )|26.6% ( 26.6 % )| ( 1 ) see non-gaap financial measures for further information on and reconciliation of as adjusted items . ( 2 ) net of net income ( loss ) attributable to nci . the company 2019s tax rate is affected by tax rates in foreign jurisdictions and the relative amount of income earned in those jurisdictions , which the company expects to be fairly consistent in the near term . the significant foreign jurisdictions that have lower statutory tax rates than the u.s . federal statutory rate of 35% ( 35 % ) include the united kingdom , channel islands , ireland and canada . u.s . income taxes were not provided for certain undistributed foreign earnings intended to be indefinitely reinvested outside the united states . 2016 . income tax expense ( gaap ) reflected : 2022 a net noncash benefit of $ 30 million , primarily associated with the revaluation of certain deferred income tax liabilities ; and 2022 a benefit from $ 65 million of nonrecurring items , including the resolution of certain outstanding tax matters . the as adjusted effective tax rate of 29.6% ( 29.6 % ) for 2016 excluded the net noncash benefit of $ 30 million mentioned above , as it will not have a cash flow impact and to ensure comparability among periods presented . 2015 . income tax expense ( gaap ) reflected : 2022 a net noncash benefit of $ 54 million , primarily associated with the revaluation of certain deferred income tax liabilities ; and 2022 a benefit from $ 75 million of nonrecurring items , primarily due to the realization of losses from changes in the company 2019s organizational tax structure and the resolution of certain outstanding tax matters . the as adjusted effective tax rate of 28.4% ( 28.4 % ) for 2015 excluded the net noncash benefit of $ 54 million mentioned above , as it will not have a cash flow impact and to ensure comparability among periods presented . 2014 . income tax expense ( gaap ) reflected : 2022 a $ 94 million tax benefit , primarily due to the resolution of certain outstanding tax matters related to the acquisition of bgi , including the previously mentioned $ 50 million tax benefit ( see executive summary for more information ) ; 2022 a $ 73 million net tax benefit related to several favorable nonrecurring items ; and 2022 a net noncash benefit of $ 9 million associated with the revaluation of deferred income tax liabilities . the as adjusted effective tax rate of 26.6% ( 26.6 % ) for 2014 excluded the $ 9 million net noncash benefit as it will not have a cash flow impact and to ensure comparability among periods presented and the $ 50 million tax benefit mentioned above . the $ 50 million general and administrative expense and $ 50 million tax benefit have been excluded from as adjusted results as there is no impact on blackrock 2019s book value . balance sheet overview as adjusted balance sheet the following table presents a reconciliation of the consolidated statement of financial condition presented on a gaap basis to the consolidated statement of financial condition , excluding the impact of separate account assets and separate account collateral held under securities lending agreements ( directly related to lending separate account securities ) and separate account liabilities and separate account collateral liabilities under securities lending agreements and consolidated sponsored investment funds , including consolidated vies . the company presents the as adjusted balance sheet as additional information to enable investors to exclude certain . Question: what is the percent change in effective tax rate from from 2015 to 2016?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
yes
Context:jpmorgan chase & co./2017 annual report 39 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 equity benchmark in the united states of america ( 201cu.s . 201d ) , 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 leading national money center and regional banks and thrifts . the s&p financial index is an index of 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 , 2012 , in jpmorgan chase common stock and in each of the above indices . the comparison assumes that all dividends are reinvested . december 31 , ( in dollars ) 2012 2013 2014 2015 2016 2017 . |december 31 ( in dollars )|2012|2013|2014|2015|2016|2017| |jpmorgan chase|$ 100.00|$ 136.71|$ 150.22|$ 162.79|$ 219.06|$ 277.62| |kbw bank index|100.00|137.76|150.66|151.39|194.55|230.72| |s&p financial index|100.00|135.59|156.17|153.72|188.69|230.47| |s&p 500 index|100.00|132.37|150.48|152.55|170.78|208.05| december 31 , ( in dollars ) 201720162015201420132012 . Question: did jpmorgan chase outperform the s&p 500 index?\\n
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
0.14529
Context:the goldman sachs group , inc . and subsidiaries notes to consolidated financial statements commercial lending . the firm 2019s commercial lending commitments are extended to investment-grade and non- investment-grade corporate borrowers . commitments to investment-grade corporate borrowers are principally used for operating liquidity and general corporate purposes . the firm also extends lending commitments in connection with contingent acquisition financing and other types of corporate lending as well as commercial real estate financing . commitments that are extended for contingent acquisition financing are often intended to be short-term in nature , as borrowers often seek to replace them with other funding sources . sumitomo mitsui financial group , inc . ( smfg ) provides the firm with credit loss protection on certain approved loan commitments ( primarily investment-grade commercial lending commitments ) . the notional amount of such loan commitments was $ 26.88 billion and $ 27.03 billion as of december 2016 and december 2015 , respectively . the credit loss protection on loan commitments provided by smfg is generally limited to 95% ( 95 % ) of the first loss the firm realizes on such commitments , up to a maximum of approximately $ 950 million . in addition , subject to the satisfaction of certain conditions , upon the firm 2019s request , smfg will provide protection for 70% ( 70 % ) of additional losses on such commitments , up to a maximum of $ 1.13 billion , of which $ 768 million of protection had been provided as of both december 2016 and december 2015 . the firm also uses other financial instruments to mitigate credit risks related to certain commitments not covered by smfg . these instruments primarily include credit default swaps that reference the same or similar underlying instrument or entity , or credit default swaps that reference a market index . warehouse financing . the firm provides financing to clients who warehouse financial assets . these arrangements are secured by the warehoused assets , primarily consisting of consumer and corporate loans . contingent and forward starting resale and securities borrowing agreements/forward starting repurchase and secured lending agreements the firm enters into resale and securities borrowing agreements and repurchase and secured lending agreements that settle at a future date , generally within three business days . the firm also enters into commitments to provide contingent financing to its clients and counterparties through resale agreements . the firm 2019s funding of these commitments depends on the satisfaction of all contractual conditions to the resale agreement and these commitments can expire unused . letters of credit the firm has commitments under letters of credit issued by various banks which the firm provides to counterparties in lieu of securities or cash to satisfy various collateral and margin deposit requirements . investment commitments the firm 2019s investment commitments include commitments to invest in private equity , real estate and other assets directly and through funds that the firm raises and manages . investment commitments include $ 2.10 billion and $ 2.86 billion as of december 2016 and december 2015 , respectively , related to commitments to invest in funds managed by the firm . if these commitments are called , they would be funded at market value on the date of investment . leases the firm has contractual obligations under long-term noncancelable lease agreements for office space expiring on various dates through 2069 . certain agreements are subject to periodic escalation provisions for increases in real estate taxes and other charges . the table below presents future minimum rental payments , net of minimum sublease rentals . $ in millions december 2016 . |$ in millions|as of december 2016| |2017|$ 290| |2018|282| |2019|238| |2020|206| |2021|159| |2022 - thereafter|766| |total|$ 1941| rent charged to operating expense was $ 244 million for 2016 , $ 249 million for 2015 and $ 309 million for 2014 . operating leases include office space held in excess of current requirements . rent expense relating to space held for growth is included in 201coccupancy . 201d the firm records a liability , based on the fair value of the remaining lease rentals reduced by any potential or existing sublease rentals , for leases where the firm has ceased using the space and management has concluded that the firm will not derive any future economic benefits . costs to terminate a lease before the end of its term are recognized and measured at fair value on termination . during 2016 , the firm incurred exit costs of approximately $ 68 million related to excess office space . goldman sachs 2016 form 10-k 169 . Question: what percentage of future minimum rental payments are due in 2018?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
0.05525
Context:bhge 2018 form 10-k | 31 business environment the following discussion and analysis summarizes the significant factors affecting our results of operations , financial condition and liquidity position as of and for the year ended december 31 , 2018 , 2017 and 2016 , and should be read in conjunction with the consolidated and combined financial statements and related notes of the company . we operate in more than 120 countries helping customers find , evaluate , drill , produce , transport and process hydrocarbon resources . our revenue is predominately generated from the sale of products and services to major , national , and independent oil and natural gas companies worldwide , and is dependent on spending by our customers for oil and natural gas exploration , field development and production . this spending is driven by a number of factors , including our customers' forecasts of future energy demand and supply , their access to resources to develop and produce oil and natural gas , their ability to fund their capital programs , the impact of new government regulations and most importantly , their expectations for oil and natural gas prices as a key driver of their cash flows . oil and natural gas prices oil and natural gas prices are summarized in the table below as averages of the daily closing prices during each of the periods indicated. . ||2018|2017|2016| |brent oil prices ( $ /bbl ) ( 1 )|$ 71.34|$ 54.12|$ 43.64| |wti oil prices ( $ /bbl ) ( 2 )|65.23|50.80|43.29| |natural gas prices ( $ /mmbtu ) ( 3 )|3.15|2.99|2.52| brent oil prices ( $ /bbl ) ( 1 ) $ 71.34 $ 54.12 $ 43.64 wti oil prices ( $ /bbl ) ( 2 ) 65.23 50.80 43.29 natural gas prices ( $ /mmbtu ) ( 3 ) 3.15 2.99 2.52 ( 1 ) energy information administration ( eia ) europe brent spot price per barrel ( 2 ) eia cushing , ok wti ( west texas intermediate ) spot price ( 3 ) eia henry hub natural gas spot price per million british thermal unit 2018 demonstrated the volatility of the oil and gas market . through the first three quarters of 2018 , we experienced stability in the north american and international markets . however , in the fourth quarter of 2018 commodity prices dropped nearly 40% ( 40 % ) resulting in increased customer uncertainty . from an offshore standpoint , through most of 2018 , we saw multiple large offshore projects reach positive final investment decisions , and the lng market and outlook improved throughout 2018 , driven by increased demand globally . in 2018 , the first large north american lng positive final investment decision was reached . outside of north america , customer spending is highly driven by brent oil prices , which increased on average throughout the year . average brent oil prices increased to $ 71.34/bbl in 2018 from $ 54.12/bbl in 2017 , and ranged from a low of $ 50.57/bbl in december 2018 , to a high of $ 86.07/bbl in october 2018 . for the first three quarters of 2018 , brent oil prices increased sequentially . however , in the fourth quarter , brent oil prices declined 39% ( 39 % ) versus the end of the third quarter , as a result of increased supply from the u.s. , worries of a global economic slowdown , and lower than expected production cuts . in north america , customer spending is highly driven by wti oil prices , which similar to brent oil prices , on average increased throughout the year . average wti oil prices increased to $ 65.23/bbl in 2018 from $ 50.80/bbl in 2017 , and ranged from a low of $ 44.48/bbl in december 2018 , to a high of $ 77.41/bbl in june 2018 . in north america , natural gas prices , as measured by the henry hub natural gas spot price , averaged $ 3.15/ mmbtu in 2018 , representing a 6% ( 6 % ) increase over the prior year . throughout the year , henry hub natural gas spot prices ranged from a high of $ 6.24/mmbtu in january 2018 to a low of $ 2.49/mmbtu in february 2018 . according to the u.s . department of energy ( doe ) , working natural gas in storage at the end of 2018 was 2705 billion cubic feet ( bcf ) , which was 15.6% ( 15.6 % ) , or 421 bcf , below the corresponding week in 2017. . Question: what are the natural gas prices as a percentage of the wti oil prices in 2017?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
1.0
Context:results of operations 20142018 compared to 2017 net sales . |( in millions )|years ended december 31 2018|years ended december 31 2017|years ended december 31 % ( % ) change| |net sales from products and systems integration|$ 5100|$ 4513|13% ( 13 % )| |net sales from services and software|2243|1867|20% ( 20 % )| |net sales|$ 7343|$ 6380|15% ( 15 % )| the products and systems integration segment 2019s net sales represented 69% ( 69 % ) of our consolidated net sales in 2018 , compared to 71% ( 71 % ) in 2017 . the services and software segment 2019s net sales represented 31% ( 31 % ) of our consolidated net sales in 2018 , compared to 29% ( 29 % ) in 2017 . net sales were up $ 963 million , or 15% ( 15 % ) , compared to 2017 . the increase in net sales was driven by the americas and emea with a 13% ( 13 % ) increase in the products and systems integration segment and a 20% ( 20 % ) increase in the services and software segment . this growth includes : 2022 $ 507 million of incremental revenue from the acquisitions of avigilon and plant in 2018 and kodiak networks and interexport which were acquired during 2017 ; 2022 $ 83 million from the adoption of accounting standards codification ( "asc" ) 606 ( see note 1 of our consolidated financial statements ) ; and 2022 $ 32 million from favorable currency rates . regional results include : 2022 the americas grew 17% ( 17 % ) across all products within both the products and systems integration and the services and software segments , inclusive of incremental revenue from acquisitions ; 2022 emea grew 18% ( 18 % ) on broad-based growth within all offerings within our products and systems integration and services and software segments , inclusive of incremental revenue from acquisitions ; and 2022 ap was relatively flat with growth in the services and software segment offset by lower products and systems integration revenue . products and systems integration the 13% ( 13 % ) growth in the products and systems integration segment was driven by the following : 2022 $ 318 million of incremental revenue from the acquisitions of avigilon in 2018 and interexport during 2017 ; 2022 $ 78 million from the adoption of asc 606 ; 2022 devices revenues were up significantly due to the acquisition of avigilon along with strong demand in the americas and emea ; and 2022 systems and systems integration revenues increased 10% ( 10 % ) in 2018 , as compared to 2017 driven by incremental revenue from avigilon , as well as system deployments in emea and ap . services and software the 20% ( 20 % ) growth in the services and software segment was driven by the following : 2022 $ 189 million of incremental revenue primarily from the acquisitions of plant and avigilon in 2018 and kodiak networks and interexport during 2017 ; 2022 $ 5 million from the adoption of asc 606 ; 2022 services were up $ 174 million , or 9% ( 9 % ) , driven by growth in both maintenance and managed service revenues , and incremental revenue from the acquisitions of interexport and plant ; and 2022 software was up $ 202 million , or 89% ( 89 % ) , driven primarily by incremental revenue from the acquisitions of plant , avigilon , and kodiak networks , and growth in our command center software suite. . Question: what was the percentage of the net sales from services and software in 2017
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
-38.54
Context:performance graph the following graph shows a five-year comparison of the cumulative total return on our common stock , the nasdaq composite index , the s&p 500 index and the s&p 500 information technology index from april 24 , 2009 through april 25 , 2014 . the past performance of our common stock is not indicative of the future performance of our common stock . comparison of 5 year cumulative total return* among netapp , inc. , the nasdaq composite index , the s&p 500 index and the s&p 500 information technology index . ||4/09|4/10|4/11|4/12|4/13|4/14| |netapp inc .|$ 100.00|$ 189.45|$ 284.75|$ 212.19|$ 190.66|$ 197.58| |nasdaq composite|100.00|144.63|170.44|182.57|202.25|253.22| |s&p 500|100.00|138.84|162.75|170.49|199.29|240.02| |s&p 500 information technology|100.00|143.49|162.37|186.06|189.18|236.12| we believe that a number of factors may cause the market price of our common stock to fluctuate significantly . see 201citem 1a . risk factors . 201d sale of unregistered securities . Question: what was the difference in percentage cumulative total return for the five year period ending 4/14 between netapp inc . and the s&p 500 information technology index?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
yes
Context:cdw corporation and subsidiaries notes to consolidated financial statements holders of class b common units in connection with the distribution is subject to any vesting provisions previously applicable to the holder 2019s class b common units . class b common unit holders received 3798508 shares of restricted stock with respect to class b common units that had not yet vested at the time of the distribution . for the year ended december 31 , 2013 , 1200544 shares of such restricted stock vested/settled and 5931 shares were forfeited . as of december 31 , 2013 , 2592033 shares of restricted stock were outstanding . stock options in addition , in connection with the ipo , the company issued 1268986 stock options to the class b common unit holders to preserve their fully diluted equity ownership percentage . these options were issued with a per-share exercise price equal to the ipo price of $ 17.00 and are also subject to the same vesting provisions as the class b common units to which they relate . the company also granted 19412 stock options under the 2013 ltip during the year ended december 31 , 2013 . restricted stock units ( 201crsus 201d ) in connection with the ipo , the company granted 1416543 rsus under the 2013 ltip at a weighted- average grant-date fair value of $ 17.03 per unit . the rsus cliff-vest at the end of four years . valuation information the company attributes the value of equity-based compensation awards to the various periods during which the recipient must perform services in order to vest in the award using the straight-line method . post-ipo equity awards the company has elected to use the black-scholes option pricing model to estimate the fair value of stock options granted . the black-scholes option pricing model incorporates various assumptions including volatility , expected term , risk-free interest rates and dividend yields . the assumptions used to value the stock options granted during the year ended december 31 , 2013 are presented below . year ended december 31 , assumptions 2013 . |assumptions|year ended december 31 2013| |weighted-average grant date fair value|$ 4.75| |weighted-average volatility ( 1 )|35.00% ( 35.00 % )| |weighted-average risk-free rate ( 2 )|1.58% ( 1.58 % )| |dividend yield|1.00% ( 1.00 % )| |expected term ( in years ) ( 3 )|5.4| expected term ( in years ) ( 3 ) . . . . . . . . . . . . . . . . . . . . . . . . . 5.4 ( 1 ) based upon an assessment of the two-year , five-year and implied volatility for the company 2019s selected peer group , adjusted for the company 2019s leverage . ( 2 ) based on a composite u.s . treasury rate . ( 3 ) the expected term is calculated using the simplified method . the simplified method defines the expected term as the average of the option 2019s contractual term and the option 2019s weighted-average vesting period . the company utilizes this method as it has limited historical stock option data that is sufficient to derive a reasonable estimate of the expected stock option term. . Question: was the weighted-average risk-free rate greater than the dividend yield?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
0.1368
Context: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 unamortized discount and debt issuance costs are being amortized over the remaining term of the 2022 notes . 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 , 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 . 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 unamortized discount and debt issuance costs are being amortized over the remaining term of the 2021 notes . 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 , which were repaid in december 2014 at maturity , and $ 1.0 billion of 5.0% ( 5.0 % ) notes maturing in december 2019 ( the 201c2019 notes 201d ) . 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 from barclays on december 1 , 2009 , and for general corporate purposes . interest on the 2019 notes of approximately $ 50 million per year 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 . the unamortized discount and debt issuance costs are being amortized over the remaining term of the 2019 notes . 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 to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price . the unamortized discount and debt issuance costs are being amortized over the remaining term of the 2017 notes . 13 . commitments and contingencies operating lease commitments the company leases its primary office spaces under agreements that expire through 2035 . future minimum commitments under these operating leases are as follows : ( in millions ) . |year|amount| |2017|142| |2018|135| |2019|125| |2020|120| |2021|112| |thereafter|404| |total|$ 1038| rent expense and certain office equipment expense under lease agreements amounted to $ 134 million , $ 136 million and $ 132 million in 2016 , 2015 and 2014 , respectively . investment commitments . at december 31 , 2016 , the company had $ 192 million of various capital commitments to fund sponsored investment funds , including consolidated vies . these funds include private equity funds , real assets funds , and opportunistic funds . this amount excludes additional commitments made by consolidated funds of funds to underlying third-party funds as third-party noncontrolling interest holders have the legal obligation to fund the respective commitments of such funds of funds . in addition to the capital commitments of $ 192 million , the company had approximately $ 12 million of contingent commitments for certain funds which have investment periods that have expired . generally , the timing of the funding of these commitments is unknown and the commitments are callable on demand at any time prior to the expiration of the commitment . these unfunded commitments are not recorded on the consolidated statements of financial condition . these commitments do not include potential future commitments approved by the company that are not yet legally binding . the company intends to make additional capital commitments from time to time to fund additional investment products for , and with , its clients . contingencies contingent payments related to business acquisitions . in connection with certain acquisitions , blackrock is required to make contingent payments , subject to achieving specified performance targets , which may include revenue related to acquired contracts or new capital commitments for certain products . the fair value of the remaining aggregate contingent payments at december 31 , 2016 totaled $ 115 million and is included in other liabilities on the consolidated statement of financial condition . other contingent payments . the company acts as the portfolio manager in a series of derivative transactions and has a maximum potential exposure of $ 17 million between the company and counterparty . see note 7 , derivatives and hedging , for further discussion . legal proceedings . from time to time , blackrock receives subpoenas or other requests for information from various u.s . federal , state governmental and domestic and international regulatory authorities in connection with . Question: what are the future minimum commitments under the operating leases in 2017 as a percentage of the total future minimum commitments under the operating leases?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
0.085
Context:for additional information on segment results see page 43 . income from equity method investments increased by $ 126 million in 2006 from 2005 and increased by $ 98 million in 2005 from 2004 . income from our lpg operations in equatorial guinea increased in both periods due to higher sales volumes as a result of the plant expansions completed in 2005 . the increase in 2005 also included higher ptc income as a result of higher distillate gross margins . cost of revenues increased $ 4.609 billion in 2006 from 2005 and $ 7.106 billion in 2005 from 2004 . in both periods the increases were primarily in the rm&t segment and resulted from increases in acquisition costs of crude oil , refinery charge and blend stocks and purchased refined products . the increase in both periods was also impacted by higher manufacturing expenses , primarily the result of higher contract services and labor costs in 2006 and higher purchased energy costs in 2005 . purchases related to matching buy/sell transactions decreased $ 6.968 billion in 2006 from 2005 and increased $ 3.314 billion in 2005 from 2004 , mostly in the rm&t segment . the decrease in 2006 was primarily related to the change in accounting for matching buy/sell transactions discussed above . the increase in 2005 was primarily due to increased crude oil prices . depreciation , depletion and amortization increased $ 215 million in 2006 from 2005 and $ 125 million in 2005 from 2004 . rm&t segment depreciation expense increased in both years as a result of the increase in asset value recorded for our acquisition of the 38 percent interest in mpc on june 30 , 2005 . in addition , the detroit refinery expansion completed in the fourth quarter of 2005 contributed to the rm&t depreciation expense increase in 2006 . e&p segment depreciation expense for 2006 included a $ 20 million impairment of capitalized costs related to the camden hills field in the gulf of mexico and the associated canyon express pipeline . natural gas production from the camden hills field ended in 2006 as a result of increased water production from the well . selling , general and administrative expenses increased $ 73 million in 2006 from 2005 and $ 134 million in 2005 from 2004 . the 2006 increase was primarily because personnel and staffing costs increased throughout the year primarily as a result of variable compensation arrangements and increased business activity . partially offsetting these increases were reductions in stock-based compensation expense . the increase in 2005 was primarily a result of increased stock-based compensation expense , due to the increase in our stock price during that year as well as an increase in equity-based awards , which was partially offset by a decrease in expense as a result of severance and pension plan curtailment charges and start-up costs related to egholdings in 2004 . exploration expenses increased $ 148 million in 2006 from 2005 and $ 59 million in 2005 from 2004 . exploration expense related to dry wells and other write-offs totaled $ 166 million , $ 111 million and $ 47 million in 2006 , 2005 and 2004 . exploration expense in 2006 also included $ 47 million for exiting the cortland and empire leases in nova scotia . net interest and other financing costs ( income ) reflected a net $ 37 million of income for 2006 , a favorable change of $ 183 million from the net $ 146 million expense in 2005 . net interest and other financing costs decreased $ 16 million in 2005 from 2004 . the favorable changes in 2006 included increased interest income due to higher interest rates and average cash balances , foreign currency exchange gains , adjustments to interest on tax issues and greater capitalized interest . the decrease in expense for 2005 was primarily a result of increased interest income on higher average cash balances and greater capitalized interest , partially offset by increased interest on potential tax deficiencies and higher foreign exchange losses . included in net interest and other financing costs ( income ) are foreign currency gains of $ 16 million , losses of $ 17 million and gains of $ 9 million for 2006 , 2005 and 2004 . minority interest in income of mpc decreased $ 148 million in 2005 from 2004 due to our acquisition of the 38 percent interest in mpc on june 30 , 2005 . provision for income taxes increased $ 2.308 billion in 2006 from 2005 and $ 979 million in 2005 from 2004 , primarily due to the $ 4.259 billion and $ 2.691 billion increases in income from continuing operations before income taxes . the increase in our effective income tax rate in 2006 was primarily a result of the income taxes related to our libyan operations , where the statutory income tax rate is in excess of 90 percent . the following is an analysis of the effective income tax rates for continuing operations for 2006 , 2005 and 2004 . see note 11 to the consolidated financial statements for further discussion. . ||2006|2005|2004| |statutory u.s . income tax rate|35.0% ( 35.0 % )|35.0% ( 35.0 % )|35.0% ( 35.0 % )| |effects of foreign operations including foreign tax credits|9.9|-0.8 ( 0.8 )|0.5| |state and local income taxes net of federal income tax effects|1.9|2.5|1.6| |other tax effects|-2.0 ( 2.0 )|-0.4 ( 0.4 )|-0.9 ( 0.9 )| |effective income tax rate for continuing operations|44.8% ( 44.8 % )|36.3% ( 36.3 % )|36.2% ( 36.2 % )| . Question: by how much did the effective income tax rate for continuing operations increase from 2005 to 2006?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
0.02569
Context:mastercard incorporated notes to consolidated financial statements 2014 ( continued ) ( in thousands , except percent and per share data ) the company does not make any contributions to its postretirement plan other than funding benefits payments . the following table summarizes expected net benefit payments from the company 2019s general assets through 2019 : benefit payments expected subsidy receipts benefit payments . ||benefit payments|expected subsidy receipts|net benefit payments| |2010|$ 2714|$ 71|$ 2643| |2011|3028|91|2937| |2012|3369|111|3258| |2013|3660|134|3526| |2014|4019|151|3868| |2015 2013 2019|22686|1071|21615| the company provides limited postemployment benefits to eligible former u.s . employees , primarily severance under a formal severance plan ( the 201cseverance plan 201d ) . the company accounts for severance expense by accruing the expected cost of the severance benefits expected to be provided to former employees after employment over their relevant service periods . the company updates the assumptions in determining the severance accrual by evaluating the actual severance activity and long-term trends underlying the assumptions . as a result of updating the assumptions , the company recorded incremental severance expense ( benefit ) related to the severance plan of $ 3471 , $ 2643 and $ ( 3418 ) , respectively , during the years 2009 , 2008 and 2007 . these amounts were part of total severance expenses of $ 135113 , $ 32997 and $ 21284 in 2009 , 2008 and 2007 , respectively , included in general and administrative expenses in the accompanying consolidated statements of operations . note 14 . debt on april 28 , 2008 , the company extended its committed unsecured revolving credit facility , dated as of april 28 , 2006 ( the 201ccredit facility 201d ) , for an additional year . the new expiration date of the credit facility is april 26 , 2011 . the available funding under the credit facility will remain at $ 2500000 through april 27 , 2010 and then decrease to $ 2000000 during the final year of the credit facility agreement . other terms and conditions in the credit facility remain unchanged . the company 2019s option to request that each lender under the credit facility extend its commitment was provided pursuant to the original terms of the credit facility agreement . borrowings under the facility are available to provide liquidity in the event of one or more settlement failures by mastercard international customers and , subject to a limit of $ 500000 , for general corporate purposes . the facility fee and borrowing cost are contingent upon the company 2019s credit rating . at december 31 , 2009 , the facility fee was 7 basis points on the total commitment , or approximately $ 1774 annually . interest on borrowings under the credit facility would be charged at the london interbank offered rate ( libor ) plus an applicable margin of 28 basis points or an alternative base rate , and a utilization fee of 10 basis points would be charged if outstanding borrowings under the facility exceed 50% ( 50 % ) of commitments . at the inception of the credit facility , the company also agreed to pay upfront fees of $ 1250 and administrative fees of $ 325 , which are being amortized over five years . facility and other fees associated with the credit facility totaled $ 2222 , $ 2353 and $ 2477 for each of the years ended december 31 , 2009 , 2008 and 2007 , respectively . mastercard was in compliance with the covenants of the credit facility and had no borrowings under the credit facility at december 31 , 2009 or december 31 , 2008 . the majority of credit facility lenders are members or affiliates of members of mastercard international . in june 1998 , mastercard international issued ten-year unsecured , subordinated notes ( the 201cnotes 201d ) paying a fixed interest rate of 6.67% ( 6.67 % ) per annum . mastercard repaid the entire principal amount of $ 80000 on june 30 , 2008 pursuant to the terms of the notes . the interest expense on the notes was $ 2668 and $ 5336 for each of the years ended december 31 , 2008 and 2007 , respectively. . Question: what was the percent of the incremental severance expense in 2009
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
18.935
Context:for purposes of determining entergy corporation's relative performance for the 2006-2008 period , the committee used the philadelphia utility index as the peer group . based on market data and the recommendation of management , the committee compared entergy corporation's total shareholder return against the total shareholder return of the companies that comprised the philadelphia utility index . based on a comparison of entergy corporation's performance relative to the philadelphia utility index as described above , the committee concluded that entergy corporation had exceeded the performance targets for the 2006-2008 performance cycle with entergy finishing in the first quartile which resulted in a payment of 250% ( 250 % ) of target ( the maximum amount payable ) . each performance unit was then automatically converted into cash at the rate of $ 83.13 per unit , the closing price of entergy corporation common stock on the last trading day of the performance cycle ( december 31 , 2008 ) , plus dividend equivalents accrued over the three-year performance cycle . see the 2008 option exercises and stock vested table for the amount paid to each of the named executive officers for the 2006-2008 performance unit cycle . stock options the personnel committee and in the case of the named executive officers ( other than mr . leonard , mr . denault and mr . smith ) , entergy's chief executive officer and the named executive officer's supervisor consider several factors in determining the amount of stock options it will grant under entergy's equity ownership plans to the named executive officers , including : individual performance ; prevailing market practice in stock option grants ; the targeted long-term value created by the use of stock options ; the number of participants eligible for stock options , and the resulting "burn rate" ( i.e. , the number of stock options authorized divided by the total number of shares outstanding ) to assess the potential dilutive effect ; and the committee's assessment of other elements of compensation provided to the named executive officer for stock option awards to the named executive officers ( other than mr . leonard ) , the committee's assessment of individual performance of each named executive officer done in consultation with entergy corporation's chief executive officer is the most important factor in determining the number of options awarded . the following table sets forth the number of stock options granted to each named executive officer in 2008 . the exercise price for each option was $ 108.20 , which was the closing fair market value of entergy corporation common stock on the date of grant. . |named exeutive officer|stock options| |j . wayne leonard|175000| |leo p . denault|50000| |richard j . smith|35000| |e . renae conley|15600| |hugh t . mcdonald|7000| |haley fisackerly|5000| |joseph f . domino|7000| |roderick k . west|8000| |theodore h . bunting jr .|18000| |carolyn shanks|7000| the option grants awarded to the named executive officers ( other than mr . leonard and mr . lewis ) ranged in amount between 5000 and 50000 shares . mr . lewis did not receive any stock option awards in 2008 . in the case of mr . leonard , who received 175000 stock options , the committee took special note of his performance as entergy corporation's chief executive officer . among other things , the committee noted that . Question: what is the total value of stock options for j . wayne leonard , in millions?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
5512.0
Context:on october 21 , 2004 , the hartford declared a dividend on its common stock of $ 0.29 per share payable on january 3 , 2005 to shareholders of record as of december 1 , 2004 . the hartford declared $ 331 and paid $ 325 in dividends to shareholders in 2004 , declared $ 300 and paid $ 291 in dividends to shareholders in 2003 , declared $ 262 and paid $ 257 in 2002 . aoci - aoci increased by $ 179 as of december 31 , 2004 compared with december 31 , 2003 . the increase in aoci is primarily the result of life 2019s adoption of sop 03-1 , which resulted in a $ 292 cumulative effect for unrealized gains on securities in the first quarter of 2004 related to the reclassification of investments from separate account assets to general account assets , partially offset by net unrealized losses on cash-flow hedging instruments . the funded status of the company 2019s pension and postretirement plans is dependent upon many factors , including returns on invested assets and the level of market interest rates . declines in the value of securities traded in equity markets coupled with declines in long- term interest rates have had a negative impact on the funded status of the plans . as a result , the company recorded a minimum pension liability as of december 31 , 2004 , and 2003 , which resulted in an after-tax reduction of stockholders 2019 equity of $ 480 and $ 375 respectively . this minimum pension liability did not affect the company 2019s results of operations . for additional information on stockholders 2019 equity and aoci see notes 15 and 16 , respectively , of notes to consolidated financial statements . cash flow 2004 2003 2002 . |cash flow|2004|2003|2002| |net cash provided by operating activities|$ 2634|$ 3896|$ 2577| |net cash used for investing activities|$ -2401 ( 2401 )|$ -8387 ( 8387 )|$ -6600 ( 6600 )| |net cash provided by financing activities|$ 477|$ 4608|$ 4037| |cash 2014 end of year|$ 1148|$ 462|$ 377| 2004 compared to 2003 2014 cash from operating activities primarily reflects premium cash flows in excess of claim payments . the decrease in cash provided by operating activities was due primarily to the $ 1.15 billion settlement of the macarthur litigation in 2004 . cash provided by financing activities decreased primarily due to lower proceeds from investment and universal life-type contracts as a result of the adoption of sop 03-1 , decreased capital raising activities , repayment of commercial paper and early retirement of junior subordinated debentures in 2004 . the decrease in cash from financing activities and operating cash flows invested long-term accounted for the majority of the change in cash used for investing activities . 2003 compared to 2002 2014 the increase in cash provided by operating activities was primarily the result of strong premium cash flows . financing activities increased primarily due to capital raising activities related to the 2003 asbestos reserve addition and decreased due to repayments on long-term debt and lower proceeds from investment and universal life-type contracts . the increase in cash from financing activities accounted for the majority of the change in cash used for investing activities . operating cash flows in each of the last three years have been adequate to meet liquidity requirements . equity markets for a discussion of the potential impact of the equity markets on capital and liquidity , see the capital markets risk management section under 201cmarket risk 201d . ratings ratings are an important factor in establishing the competitive position in the insurance and financial services marketplace . there can be no assurance that the company's ratings will continue for any given period of time or that they will not be changed . in the event the company's ratings are downgraded , the level of revenues or the persistency of the company's business may be adversely impacted . on august 4 , 2004 , moody 2019s affirmed the company 2019s and hartford life , inc . 2019s a3 senior debt ratings as well as the aa3 insurance financial strength ratings of both its property-casualty and life insurance operating subsidiaries . in addition , moody 2019s changed the outlook for all of these ratings from negative to stable . since the announcement of the suit filed by the new york attorney general 2019s office against marsh & mclennan companies , inc. , and marsh , inc . on october 14 , 2004 , the major independent ratings agencies have indicated that they continue to monitor developments relating to the suit . on october 22 , 2004 , standard & poor 2019s revised its outlook on the u.s . property/casualty commercial lines sector to negative from stable . on november 23 , 2004 , standard & poor 2019s revised its outlook on the financial strength and credit ratings of the property-casualty insurance subsidiaries to negative from stable . the outlook on the life insurance subsidiaries and corporate debt was unaffected. . Question: in 2004 what was the net change in cash
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
2068.0
Context:on december 19 , 2011 , we redeemed the remaining $ 175 million of our 6.5% ( 6.5 % ) notes due april 15 , 2012 , and all $ 300 million of our outstanding 6.125% ( 6.125 % ) notes due january 15 , 2012 . the redemptions resulted in an early extinguishment charge of $ 5 million in the fourth quarter of 2011 . receivables securitization facility 2013 as of december 31 , 2013 and 2012 , we recorded $ 0 and $ 100 million , respectively , as secured debt under our receivables securitization facility . ( see further discussion of our receivables securitization facility in note 10 ) . 15 . variable interest entities we have entered into various lease transactions in which the structure of the leases contain variable interest entities ( vies ) . these vies were created solely for the purpose of doing lease transactions ( principally involving railroad equipment and facilities , including our headquarters building ) and have no other activities , assets or liabilities outside of the lease transactions . within these lease arrangements , we have the right to purchase some or all of the assets at fixed prices . depending on market conditions , fixed-price purchase options available in the leases could potentially provide benefits to us ; however , these benefits are not expected to be significant . we maintain and operate the assets based on contractual obligations within the lease arrangements , which set specific guidelines consistent within the railroad industry . as such , we have no control over activities that could materially impact the fair value of the leased assets . we do not hold the power to direct the activities of the vies and , therefore , do not control the ongoing activities that have a significant impact on the economic performance of the vies . additionally , we do not have the obligation to absorb losses of the vies or the right to receive benefits of the vies that could potentially be significant to the we are not considered to be the primary beneficiary and do not consolidate these vies because our actions and decisions do not have the most significant effect on the vie 2019s performance and our fixed-price purchase price options are not considered to be potentially significant to the vies . the future minimum lease payments associated with the vie leases totaled $ 3.3 billion as of december 31 , 2013 . 16 . leases we lease certain locomotives , freight cars , and other property . the consolidated statements of financial position as of december 31 , 2013 and 2012 included $ 2486 million , net of $ 1092 million of accumulated depreciation , and $ 2467 million , net of $ 966 million of accumulated depreciation , respectively , for properties held under capital leases . a charge to income resulting from the depreciation for assets held under capital leases is included within depreciation expense in our consolidated statements of income . future minimum lease payments for operating and capital leases with initial or remaining non-cancelable lease terms in excess of one year as of december 31 , 2013 , were as follows : millions operating leases capital leases . |millions|operatingleases|capitalleases| |2014|$ 512|$ 272| |2015|477|260| |2016|438|239| |2017|400|247| |2018|332|225| |later years|1907|957| |total minimum leasepayments|$ 4066|$ 2200| |amount representing interest|n/a|-498 ( 498 )| |present value of minimum leasepayments|n/a|$ 1702| approximately 94% ( 94 % ) of capital lease payments relate to locomotives . rent expense for operating leases with terms exceeding one month was $ 618 million in 2013 , $ 631 million in 2012 , and $ 637 million in 2011 . when cash rental payments are not made on a straight-line basis , we recognize variable rental expense on a straight-line basis over the lease term . contingent rentals and sub-rentals are not significant. . Question: as of december 31 , 2013 what was the percent of the capital lease payments related to locomotives in millions
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
26.21622
Context:cash amounts for future minimum rental commitments under existing non- cancelable leases with a remaining term of more than one year , along with minimum sublease rental income to be received under non- cancelable subleases are shown in the following table . ( in millions ) commitment sublease income net rent . |( in millions )|rentcommitment|subleaseincome|net rent| |2018|$ 122|$ -17 ( 17 )|$ 105| |2019|109|-17 ( 17 )|92| |2020|83|-3 ( 3 )|80| |2021|71|2014|71| |2022|69|2014|69| |2023 and beyond|516|2014|516| |total|$ 970|$ -37 ( 37 )|$ 933| legal & regulatory matters in the normal course of business both in the united states and abroad , the company and its subsidiaries are defendants in a number of legal proceedings and are often the subject of gov- ernment and regulatory proceedings , investigations and inqui- ries . many of these proceedings , investigations and inquiries relate to the ratings activity of s&p global ratings brought by issuers and alleged purchasers of rated securities . in addition , various government and self- regulatory agencies frequently make inquiries and conduct investigations into our compliance with applicable laws and regulations , including those related to ratings activities and antitrust matters . any of these pro- ceedings , investigations or inquiries could ultimately result in adverse judgments , damages , fines , penalties or activity restrictions , which could adversely impact our consolidated financial condition , cash flows , business or competitive position . the company believes that it has meritorious defenses to the pending claims and potential claims in the matters described below and is diligently pursuing these defenses , and in some cases working to reach an acceptable negotiated resolution . however , in view of the uncertainty inherent in litigation and government and regulatory enforcement matters , we cannot predict the eventual outcome of these matters or the timing of their resolution , or in most cases reasonably estimate what the eventual judgments , damages , fines , penalties or impact of activity restrictions may be . as a result , we cannot provide assurance that the outcome of the matters described below will not have a material adverse effect on our consolidated financial condition , cash flows , business or competitive posi- tion . as litigation or the process to resolve pending matters progresses , as the case may be , we will continue to review the latest information available and assess our ability to predict the outcome of such matters and the effects , if any , on our con- solidated financial condition , cash flows , business and com- petitive position , which may require that we record liabilities in the consolidated financial statements in future periods . with respect to the matters identified below , we have recog- nized a liability when both ( a ) a0 information available indicates that it is probable that a liability has been incurred as of the date of these financial statements and ( b ) a0the amount of loss can reasonably be estimated . s&p global ratings financial crisis litigation the company and its subsidiaries continue to defend civil cases brought by private and public plaintiffs arising out of ratings activities prior to and during the global financial crisis of 2008 20132009 . included in these civil cases are several law- suits in australia against the company and standard & poor 2019s international , llc relating to alleged investment losses in collateralized debt obligations ( 201ccdos 201d ) rated by s&p global ratings . we can provide no assurance that we will not be obli- gated to pay significant amounts in order to resolve these mat- ters on terms deemed acceptable . u.s . securities and exchange commission as a nationally recognized statistical rating organization registered with the sec under section 15e of the securities exchange act of 1934 , s&p global ratings is in ongoing com- munication with the staff of the sec regarding compliance with its extensive obligations under the federal securities laws . although s&p global ratings seeks to promptly address any compliance issues that it detects or that the staff of the sec raises , there can be no assurance that the sec will not seek remedies against s&p global ratings for one or more compli- ance deficiencies . trani prosecutorial proceeding in 2014 , the prosecutor in the italian city of trani obtained criminal indictments against several current and former s&p global ratings managers and ratings analysts for alleged market manipulation , and against standard & poor 2019s credit market services europe under italy 2019s vicarious liability stat- ute , for having allegedly failed to properly supervise the ratings analysts and prevent them from committing market manipula- tion . the prosecutor 2019s theories were based on various actions by s&p global ratings taken with respect to italian sovereign debt between may of 2011 and january of 2012 . on march a030 , 2017 , following trial , the court in trani issued an oral verdict s&p global 2017 annual report 79 . Question: \\nwhat is the ratio of the rental commitment to the sublease income
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
105.5
Context:has decreased during the period from 2002 to 2004 , principally due to the increase in earned premium and due to cost containment measures undertaken by management . in business insurance and personal lines , the expense ratio is expected to decrease further in 2005 , largely as a result of expected increases in earned premium . in specialty commercial , the expense ratio is expected to increase slightly in 2005 due to changes in the business mix , most notably the company 2019s decision in the fourth quarter of 2004 to exit the multi-peril crop insurance program which will eliminate significant expense reimbursements from the specialty commercial segment . policyholder dividend ratio : the policyholder dividend ratio is the ratio of policyholder dividends to earned premium . combined ratio : the combined ratio is the sum of the loss and loss adjustment expense ratio , the expense ratio and the policyholder dividend ratio . this ratio is a relative measurement that describes the related cost of losses and expense for every $ 100 of earned premiums . a combined ratio below 100.0 demonstrates underwriting profit ; a combined ratio above 100.0 demonstrates underwriting losses . the combined ratio has decreased from 2003 to 2004 primarily because of improvement in the expense ratio . the combined ratio in 2005 could be significantly higher or lower than the 2004 combined ratio depending on the level of catastrophe losses , but will also be impacted by changes in pricing and an expected moderation in favorable loss cost trends . catastrophe ratio : the catastrophe ratio ( a component of the loss and loss adjustment expense ratio ) represents the ratio of catastrophe losses ( net of reinsurance ) to earned premiums . a catastrophe is an event that causes $ 25 or more in industry insured property losses and affects a significant number of property and casualty policyholders and insurers . by their nature , catastrophe losses vary dramatically from year to year . based on the mix and geographic dispersion of premium written and estimates derived from various catastrophe loss models , the company 2019s expected catastrophe ratio over the long-term is 3.0 points . before considering the reduction in ongoing operation 2019s catastrophe reserves related to september 11 of $ 298 in 2004 , the catastrophe ratio in 2004 was 5.3 points . see 201crisk management strategy 201d below for a discussion of the company 2019s property catastrophe risk management program that serves to mitigate the company 2019s net exposure to catastrophe losses . combined ratio before catastrophes and prior accident year development : the combined ratio before catastrophes and prior accident year development represents the combined ratio for the current accident year , excluding the impact of catastrophes . the company believes this ratio is an important measure of the trend in profitability since it removes the impact of volatile and unpredictable catastrophe losses and prior accident year reserve development . before considering catastrophes , the combined ratio related to current accident year business has improved from 2002 to 2004 principally due to earned pricing increases and favorable claim frequency . other operations underwriting results : the other operations segment is responsible for managing operations of the hartford that have discontinued writing new or renewal business as well as managing the claims related to asbestos and environmental exposures . as such , neither earned premiums nor underwriting ratios are meaningful financial measures . instead , management believes that underwriting result is a more meaningful measure . the net underwriting loss for 2002 through 2004 is primarily due to prior accident year loss development , including $ 2.6 billion of net asbestos reserve strengthening in 2003 . reserve estimates within other operations , including estimates for asbestos and environmental claims , are inherently uncertain . refer to the other operations segment md&a for further discussion of other operation's underwriting results . total property & casualty investment earnings . ||2004|2003|2002| |investment yield after-tax|4.1% ( 4.1 % )|4.2% ( 4.2 % )|4.5% ( 4.5 % )| |net realized capital gains ( losses ) after-tax|$ 87|$ 165|$ -44 ( 44 )| the investment return , or yield , on property & casualty 2019s invested assets is an important element of the company 2019s earnings since insurance products are priced with the assumption that premiums received can be invested for a period of time before loss and loss adjustment expenses are paid . for longer tail lines , such as workers 2019 compensation and general liability , claims are paid over several years and , therefore , the premiums received for these lines of business can generate significant investment income . him determines the appropriate allocation of investments by asset class and measures the investment yield performance for each asset class against market indices or other benchmarks . due to the emphasis on preservation of capital and the need to maintain sufficient liquidity to satisfy claim obligations , the vast majority of property and casualty 2019s invested assets have been held in fixed maturities , including , among other asset classes , corporate bonds , municipal bonds , government debt , short-term debt , mortgage- . Question: what was the average total property & casualty investment earnings net realized capital gains from 2002 to 2004
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
0.7528
Context: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 29 , 2012 and december 31 , 2011 were as follows: . |( millions )|2012|2011| |foreign currency exchange contracts|$ 570|$ 1265| |interest rate contracts|2150|600| |commodity contracts|136|175| |total|$ 2856|$ 2040| 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 29 , 2012 and december 31 , 2011 , 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 29 , 2012 or december 31 , 2011 . the following table presents assets and liabilities that were measured at fair value in the consolidated balance sheet on a recurring basis as of december 29 , 2012 and december 31 , 2011 : derivatives designated as hedging instruments : 2012 2011 ( millions ) level 1 level 2 total level 1 level 2 total assets : foreign currency exchange contracts : other current assets $ 2014 $ 4 $ 4 $ 2014 $ 11 $ 11 interest rate contracts ( a ) : other assets 2014 64 64 2014 23 23 commodity contracts : other current assets 2014 2014 2014 2 2014 2 total assets $ 2014 $ 68 $ 68 $ 2 $ 34 $ 36 liabilities : foreign currency exchange contracts : other current liabilities $ 2014 $ ( 3 ) $ ( 3 ) $ 2014 $ ( 18 ) $ ( 18 ) commodity contracts : other current liabilities 2014 ( 11 ) ( 11 ) ( 4 ) ( 12 ) ( 16 ) other liabilities 2014 ( 27 ) ( 27 ) 2014 ( 34 ) ( 34 ) total liabilities $ 2014 $ ( 41 ) $ ( 41 ) $ ( 4 ) $ ( 64 ) $ ( 68 ) ( a ) the fair value of the related hedged portion of the company 2019s long-term debt , a level 2 liability , was $ 2.3 billion as of december 29 , 2012 and $ 626 million as of december 31 , derivatives not designated as hedging instruments : 2012 2011 ( millions ) level 1 level 2 total level 1 level 2 total assets : commodity contracts : other current assets $ 5 $ 2014 $ 5 $ 2014 $ 2014 $ 2014 total assets $ 5 $ 2014 $ 5 $ 2014 $ 2014 $ 2014 liabilities : commodity contracts : other current liabilities $ ( 3 ) $ 2014 $ ( 3 ) $ 2014 $ 2014 $ 2014 total liabilities $ ( 3 ) $ 2014 $ ( 3 ) $ 2014 $ 2014 $ 2014 . Question: in 2012 what was the percent of the notional amounts of the company 2019s derivative instruments for interest rate contracts
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
0.0
Context:abiomed , inc . and subsidiaries notes to consolidated financial statements 2014 ( continued ) the calculation of diluted weighted-average shares outstanding for the fiscal years ended march 31 , 2004 , 2005 and 2006 excludes potential stock from unexercised stock options that have an exercise price below the average market price as shown below . year ended march 31 , potential dilutive shares from exercise of common stock options . |year ended march 31,|potential dilutive shares from exercise of common stock options| |2004|222593| |2005|980147| |2006|577845| the calculation of diluted weighted average shares outstanding excludes unissued shares of common stock associated with outstanding stock options that have exercise prices greater than the average market price . for the fiscal years ending march 31 , 2004 , 2005 and 2006 , the weighted average number of these potential shares totaled 1908347 , 825014 and 1417130 shares , respectively . the calculation of diluted weighted average shares outstanding for these fiscal years also excludes warrants to purchase 400000 share of common stock issued in connection with the acquisition of intellectual property ( see note 5 ) . ( k ) cash and cash equivalents the company classifies any marketable security with a maturity date of 90 days or less at the time of purchase as a cash equivalent . at march 31 , 2005 and march 31 , 2006 , the company had restricted cash of approximately $ 97000 and $ 261000 , respectively , which are included in other assets at march 31 , 2005 and prepaid expenses and other current assets at march 31 , 2006 , respectively . this cash represents security deposits held in the company 2019s european banks for certain facility and auto leases . ( l ) marketable securities and long-term investments the company classifies any security with a maturity date of greater than 90 days at the time of purchase as marketable securities and classifies marketable securities with a maturity date of greater than one year from the balance sheet date as long-term investments based upon the ability and intent of the company . in accordance with statement of financial accounting standards ( sfas ) no . 115 , accounting for certain investments in debt and equity securities , securities that the company has the positive intent and ability to hold to maturity are reported at amortized cost and classified as held-to-maturity securities . at march 31 , 2006 the held-to-maturity investment portfolio consisted primarily of government securities and corporate bonds with maturities of one year or less . the amortized cost , including interest receivable , and market value of held 2013to-maturity short-term marketable securities were approximately $ 29669000 and $ 29570000 at march 31 , 2005 , and $ 16901000 and $ 16866000 at march 31 , 2006 , respectively . the company has classified its portion of the investment portfolio consisting of corporate asset-backed securities as available-for 2013sale securities . the cost of these securities approximates market value and was $ 4218000 at march 31 , 2005 and $ 6102000 at march 31 , 2006 . principal payments of these available-for-sale securities are typically made on an expected pre-determined basis rather than on the longer contractual maturity date. . Question: for the available-for 2013sale securities , what is the unrealized gain or loss at march 31 , 2005?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
16759.5
Context:mastercard incorporated notes to consolidated financial statements 2014 ( continued ) ( in thousands , except percent and per share data ) equity awards was $ 30333 , $ 20726 and $ 19828 for the years ended december 31 , 2009 , 2008 and 2007 , respectively . the income tax benefit related to options exercised during 2009 was $ 7545 . the additional paid-in capital balance attributed to the equity awards was $ 197350 , $ 135538 and $ 114637 as of december 31 , 2009 , 2008 and 2007 , respectively . on july 18 , 2006 , the company 2019s stockholders approved the mastercard incorporated 2006 non-employee director equity compensation plan ( the 201cdirector plan 201d ) . the director plan provides for awards of deferred stock units ( 201cdsus 201d ) to each director of the company who is not a current employee of the company . there are 100 shares of class a common stock reserved for dsu awards under the director plan . during the years ended december 31 , 2009 , 2008 and 2007 , the company granted 7 dsus , 4 dsus and 8 dsus , respectively . the fair value of the dsus was based on the closing stock price on the new york stock exchange of the company 2019s class a common stock on the date of grant . the weighted average grant-date fair value of dsus granted during the years ended december 31 , 2009 , 2008 and 2007 was $ 168.18 , $ 284.92 and $ 139.27 , respectively . the dsus vested immediately upon grant and will be settled in shares of the company 2019s class a common stock on the fourth anniversary of the date of grant . accordingly , the company recorded general and administrative expense of $ 1151 , $ 1209 and $ 1051 for the dsus for the years ended december 31 , 2009 , 2008 and 2007 , respectively . the total income tax benefit recognized in the income statement for dsus was $ 410 , $ 371 and $ 413 for the years ended december 31 , 2009 , 2008 and 2007 , respectively . note 18 . commitments at december 31 , 2009 , the company had the following future minimum payments due under non-cancelable agreements : capital leases operating leases sponsorship , licensing & . ||total|capital leases|operating leases|sponsorship licensing & other| |2010|$ 283987|$ 7260|$ 25978|$ 250749| |2011|146147|4455|17710|123982| |2012|108377|3221|15358|89798| |2013|59947|36838|10281|12828| |2014|13998|2014|8371|5627| |thereafter|25579|2014|22859|2720| |total|$ 638035|$ 51774|$ 100557|$ 485704| included in the table above are capital leases with imputed interest expense of $ 7929 and a net present value of minimum lease payments of $ 43845 . in addition , at december 31 , 2009 , $ 63616 of the future minimum payments in the table above for leases , sponsorship , licensing and other agreements was accrued . consolidated rental expense for the company 2019s office space , which is recognized on a straight line basis over the life of the lease , was approximately $ 39586 , $ 42905 and $ 35614 for the years ended december 31 , 2009 , 2008 and 2007 , respectively . consolidated lease expense for automobiles , computer equipment and office equipment was $ 9137 , $ 7694 and $ 7679 for the years ended december 31 , 2009 , 2008 and 2007 , respectively . in january 2003 , mastercard purchased a building in kansas city , missouri for approximately $ 23572 . the building is a co-processing data center which replaced a back-up data center in lake success , new york . during 2003 , mastercard entered into agreements with the city of kansas city for ( i ) the sale-leaseback of the building and related equipment which totaled $ 36382 and ( ii ) the purchase of municipal bonds for the same amount . Question: what is the average value of operating leases during 2010-2014?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
0.11314
Context:2022 integration of new projects . during 2010 , the following projects were acquired or commenced commercial operations : project location fuel aes equity interest ( percent , rounded ) . |project|location|fuel|gross mw|aes equity interest ( percent rounded )| |ballylumford|united kingdom|gas|1246|100% ( 100 % )| |jhrh ( 1 )|china|hydro|379|35% ( 35 % )| |nueva ventanas|chile|coal|272|71% ( 71 % )| |st . nikola|bulgaria|wind|156|89% ( 89 % )| |guacolda 4 ( 2 )|chile|coal|152|35% ( 35 % )| |dong qi ( 3 )|china|wind|49|49% ( 49 % )| |huanghua ii ( 3 )|china|wind|49|49% ( 49 % )| |st . patrick|france|wind|35|100% ( 100 % )| |north rhins|scotland|wind|22|100% ( 100 % )| |kepezkaya|turkey|hydro|28|51% ( 51 % )| |damlapinar ( 4 )|turkey|hydro|16|51% ( 51 % )| damlapinar ( 4 ) . . . . . . . . . . . . . . turkey hydro 16 51% ( 51 % ) ( 1 ) jianghe rural electrification development co . ltd . ( 201cjhrh 201d ) and aes china hydropower investment co . ltd . entered into an agreement to acquire a 49% ( 49 % ) interest in this joint venture in june 2010 . acquisition of 35% ( 35 % ) ownership was completed in june 2010 and the transfer of the remaining 14% ( 14 % ) ownership , which is subject to approval by the chinese government , is expected to be completed in may 2011 . ( 2 ) guacolda is an equity method investment indirectly held by aes through gener . the aes equity interest reflects the 29% ( 29 % ) noncontrolling interests in gener . ( 3 ) joint venture with guohua energy investment co . ltd . ( 4 ) joint venture with i.c . energy . key trends and uncertainties our operations continue to face many risks as discussed in item 1a . 2014risk factors of this form 10-k . some of these challenges are also described above in key drivers of results in 2010 . we continue to monitor our operations and address challenges as they arise . development . during the past year , the company has successfully acquired and completed construction of a number of projects , totaling approximately 2404 mw , including the acquisition of ballylumford in the united kingdom and completion of construction of a number of projects in europe , chile and china . however , as discussed in item 1a . 2014risk factors 2014our business is subject to substantial development uncertainties of this form 10-k , our development projects are subject to uncertainties . certain delays have occurred at the 670 mw maritza coal-fired project in bulgaria , and the project has not yet begun commercial operations . as noted in note 10 2014debt included in item 8 of this form 10-k , as a result of these delays the project debt is in default and the company is working with its lenders to resolve the default . in addition , as noted in item 3 . 2014legal proceedings , the company is in litigation with the contractor regarding the cause of delays . at this time , we believe that maritza will commence commercial operations for at least some of the project 2019s capacity by the second half of 2011 . however , commencement of commercial operations could be delayed beyond this time frame . there can be no assurance that maritza will achieve commercial operations , in whole or in part , by the second half of 2011 , resolve the default with the lenders or prevail in the litigation referenced above , which could result in the loss of some or all of our investment or require additional funding for the project . any of these events could have a material adverse effect on the company 2019s operating results or financial position . global economic conditions . during the past few years , economic conditions in some countries where our subsidiaries conduct business have deteriorated . although the economic conditions in several of these countries have improved in recent months , our businesses could be impacted in the event these recent trends do not continue. . Question: what percentage of mw from acquired or commenced commercial operations in 2010 were due to nueva ventana?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
0.67663
Context:page 30 of 94 are included in capital spending amounts . another example is the company 2019s decision in 2007 to contribute an additional $ 44.5 million ( $ 27.3 million ) to its pension plans as part of its overall debt reduction plan . based on this , our consolidated free cash flow is summarized as follows: . |( $ in millions )|2007|2006|2005| |cash flows from operating activities|$ 673.0|$ 401.4|$ 558.8| |incremental pension funding net of tax|27.3|2013|2013| |capital spending|-308.5 ( 308.5 )|-279.6 ( 279.6 )|-291.7 ( 291.7 )| |proceeds for replacement of fire-damaged assets|48.6|61.3|2013| |free cash flow|$ 440.4|$ 183.1|$ 267.1| based on information currently available , we estimate cash flows from operating activities for 2008 to be approximately $ 650 million , capital spending to be approximately $ 350 million and free cash flow to be in the $ 300 million range . capital spending of $ 259.9 million ( net of $ 48.6 million in insurance recoveries ) in 2007 was below depreciation and amortization expense of $ 281 million . we continue to invest capital in our best performing operations , including projects to increase custom can capabilities , improve beverage can and end making productivity and add more beverage can capacity in europe , as well as expenditures in the aerospace and technologies segment . of the $ 350 million of planned capital spending for 2008 , approximately $ 180 million will be spent on top-line sales growth projects . debt facilities and refinancing interest-bearing debt at december 31 , 2007 , decreased $ 93.1 million to $ 2358.6 million from $ 2451.7 million at december 31 , 2006 . the 2007 debt decrease from 2006 was primarily attributed to debt payments offset by higher foreign exchange rates . at december 31 , 2007 , $ 705 million was available under the company 2019s multi-currency revolving credit facilities . the company also had $ 345 million of short-term uncommitted credit facilities available at the end of the year , of which $ 49.7 million was outstanding . on october 13 , 2005 , ball refinanced its senior secured credit facilities and during the third and fourth quarters of 2005 , ball redeemed its 7.75% ( 7.75 % ) senior notes due august 2006 primarily through the drawdown of funds under the new credit facilities . the refinancing and redemption resulted in a pretax debt refinancing charge of $ 19.3 million ( $ 12.3 million after tax ) to reflect the call premium associated with the senior notes and the write off of unamortized debt issuance costs . the company has a receivables sales agreement that provides for the ongoing , revolving sale of a designated pool of trade accounts receivable of ball 2019s north american packaging operations , up to $ 250 million . the agreement qualifies as off-balance sheet financing under the provisions of statement of financial accounting standards ( sfas ) no . 140 , as amended by sfas no . 156 . net funds received from the sale of the accounts receivable totaled $ 170 million and $ 201.3 million at december 31 , 2007 and 2006 , respectively , and are reflected as a reduction of accounts receivable in the consolidated balance sheets . the company was not in default of any loan agreement at december 31 , 2007 , and has met all payment obligations . the u.s . note agreements , bank credit agreement and industrial development revenue bond agreements contain certain restrictions relating to dividends , investments , financial ratios , guarantees and the incurrence of additional indebtedness . additional details about the company 2019s receivables sales agreement and debt are available in notes 7 and 13 , respectively , accompanying the consolidated financial statements within item 8 of this report. . Question: what is the percentage change in cash flow from operating activities from 2006 to 2007?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
1.54
Context:table of contents company stock performance the following graph shows a comparison of cumulative total shareholder return , calculated on a dividend reinvested basis , for the company , the s&p 500 index , the s&p information technology index and the dow jones u.s . technology supersector index for the five years ended september 26 , 2015 . the graph assumes $ 100 was invested in each of the company 2019s common stock , the s&p 500 index , the s&p information technology index and the dow jones u.s . technology supersector index as of the market close on september 24 , 2010 . note that historic stock price performance is not necessarily indicative of future stock price performance . * $ 100 invested on 9/25/10 in stock or index , including reinvestment of dividends . data points are the last day of each fiscal year for the company 2019scommon stock and september 30th for indexes . copyright a9 2015 s&p , a division of mcgraw hill financial . all rights reserved . copyright a9 2015 dow jones & co . all rights reserved . september september september september september september . ||september 2010|september 2011|september 2012|september 2013|september 2014|september 2015| |apple inc .|$ 100|$ 138|$ 229|$ 170|$ 254|$ 294| |s&p 500 index|$ 100|$ 101|$ 132|$ 157|$ 188|$ 187| |s&p information technology index|$ 100|$ 104|$ 137|$ 147|$ 190|$ 194| |dow jones u.s . technology supersector index|$ 100|$ 103|$ 134|$ 141|$ 183|$ 183| apple inc . | 2015 form 10-k | 21 . Question: what was the percentage cumulative total shareholder return for the four years ended 2014?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
0.01896
Context: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 ( continued ) ace limited and subsidiaries 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 2009 , 2008 , and 2007 . the amount of dividends available to be paid in 2010 , without prior approval from the state insurance departments , totals $ 733 million . the combined statutory capital and surplus and statutory net income of the bermuda and u.s . subsidiaries as at and for the years ended december 31 , 2009 , 2008 , and 2007 , are as follows: . |( in millions of u.s . dollars )|bermuda subsidiaries 2009|bermuda subsidiaries 2008|bermuda subsidiaries 2007|bermuda subsidiaries 2009|bermuda subsidiaries 2008|2007| |statutory capital and surplus|$ 9299|$ 6205|$ 8579|$ 5801|$ 5368|$ 5321| |statutory net income|$ 2472|$ 2196|$ 1535|$ 870|$ 818|$ 873| 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 $ 215 million , $ 211 million , and $ 140 million at december 31 , 2009 , 2008 , and 2007 , 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 . 21 . information provided in connection with outstanding debt of subsidiaries the following tables present condensed consolidating financial information at december 31 , 2009 , and december 31 , 2008 , and for the years ended december 31 , 2009 , 2008 , and 2007 , for ace limited ( the parent guarantor ) and its 201csubsidiary issuer 201d , ace ina holdings , inc . the subsidiary issuer is an indirect 100 percent-owned subsidiary of the parent guarantor . investments in subsidiaries are accounted for by the parent guarantor under the equity method for purposes of the supplemental consolidating presentation . earnings of subsidiaries are reflected in the parent guarantor 2019s investment accounts and earnings . the parent guarantor fully and unconditionally guarantees certain of the debt of the subsidiary issuer. . Question: what was the percentage increase in the statutory capital and surplus due to discount of certain a&e liabilities from 2008 to 2009
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
0.1853
Context:hologic , inc . notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) its supply chain and improve manufacturing margins . the combination of the companies should also facilitate further manufacturing efficiencies and accelerate research and development of new detector products . aeg was a privately held group of companies headquartered in warstein , germany , with manufacturing operations in germany , china and the united states . the aggregate purchase price for aeg was approximately $ 31300 ( subject to adjustment ) consisting of eur $ 24100 in cash and 110 shares of hologic common stock valued at $ 5300 , and approximately $ 1900 for acquisition related fees and expenses . the company determined the fair value of the shares issued in connection with the acquisition in accordance with eitf issue no . 99-12 , determination of the measurement date for the market price of acquirer securities issued in a purchase business combination . these 110 shares were subject to contingent put options pursuant to which the holders had the option to resell the shares to the company during a period of one year following the completion of the acquisition if the closing price of the company 2019s stock falls and remains below a threshold price . the put options were never exercised and expired on may 2 , 2007 . the acquisition also provided for a one-year earn out of eur 1700 ( approximately $ 2000 usd ) which was payable in cash if aeg calendar year 2006 earnings , as defined , exceeded a pre-determined amount . aeg 2019s 2006 earnings did not exceed such pre-determined amounts and no payment was made . the components and allocation of the purchase price , consists of the following approximate amounts: . |net tangible assets acquired as of may 2 2006|$ 24800| |in-process research and development|600| |developed technology and know how|1900| |customer relationship|800| |trade name|400| |deferred income taxes|-3000 ( 3000 )| |goodwill|5800| |estimated purchase price|$ 31300| the company implemented a plan to restructure certain of aeg 2019s historical activities . the company originally recorded a liability of approximately $ 2100 in accordance with eitf issue no . 95-3 , recognition of liabilities in connection with a purchase business combination , related to the termination of certain employees under this plan . upon completion of the plan in fiscal 2007 the company reduced this liability by approximately $ 241 with a corresponding reduction in goodwill . all amounts have been paid as of september 29 , 2007 . as part of the aeg acquisition the company acquired a minority interest in the equity securities of a private german company . the company estimated the fair value of these securities to be approximately $ 1400 in its original purchase price allocation . during the year ended september 29 , 2007 , the company sold these securities for proceeds of approximately $ 2150 . the difference of approximately $ 750 between the preliminary fair value estimate and proceeds upon sale has been recorded as a reduction of goodwill . the final purchase price allocations were completed within one year of the acquisition and the adjustments did not have a material impact on the company 2019s financial position or results of operations . there have been no other material changes to the purchase price allocation as disclosed in the company 2019s form 10-k for the year ended september 30 , 2006 . as part of the purchase price allocation , all intangible assets that were a part of the acquisition were identified and valued . it was determined that only customer relationship , trade name , developed technology and know how and in-process research and development had separately identifiable values . the fair value of these intangible assets was determined through the application of the income approach . customer relationship represents aeg 2019s high dependency on a small number of large accounts . aeg markets its products through distributors as well as directly to its own customers . trade name represents aeg 2019s product names that the company intends to continue to use . developed technology and know how represents currently marketable . Question: what portion of the estimated purchase price is dedicated to goodwill?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
-0.58
Context:republic services , inc . notes to consolidated financial statements 2014 ( continued ) in december 2008 , the board of directors amended and restated the republic services , inc . 2006 incentive stock plan ( formerly known as the allied waste industries , inc . 2006 incentive stock plan ( the 2006 plan ) ) . allied 2019s stockholders approved the 2006 plan in may 2006 . the 2006 plan was amended and restated in december 2008 to reflect that republic services , inc . is the new sponsor of the plan , that any references to shares of common stock is to shares of common stock of republic services , inc. , and to adjust outstanding awards and the number of shares available under the plan to reflect the acquisition . the 2006 plan , as amended and restated , provides for the grant of non-qualified stock options , incentive stock options , shares of restricted stock , shares of phantom stock , stock bonuses , restricted stock units , stock appreciation rights , performance awards , dividend equivalents , cash awards , or other stock-based awards . awards granted under the 2006 plan prior to december 5 , 2008 became fully vested and nonforfeitable upon the closing of the acquisition . awards may be granted under the 2006 plan , as amended and restated , after december 5 , 2008 only to employees and consultants of allied waste industries , inc . and its subsidiaries who were not employed by republic services , inc . prior to such date . at december 31 , 2012 , there were approximately 15.5 million shares of common stock reserved for future grants under the 2006 plan . stock options we use a binomial option-pricing model to value our stock option grants . we recognize compensation expense on a straight-line basis over the requisite service period for each separately vesting portion of the award , or to the employee 2019s retirement eligible date , if earlier . expected volatility is based on the weighted average of the most recent one year volatility and a historical rolling average volatility of our stock over the expected life of the option . the risk-free interest rate is based on federal reserve rates in effect for bonds with maturity dates equal to the expected term of the option . we use historical data to estimate future option exercises , forfeitures ( at 3.0% ( 3.0 % ) for each of the period presented ) and expected life of the options . when appropriate , separate groups of employees that have similar historical exercise behavior are considered separately for valuation purposes . the weighted-average estimated fair values of stock options granted during the years ended december 31 , 2012 , 2011 and 2010 were $ 4.77 , $ 5.35 and $ 5.28 per option , respectively , which were calculated using the following weighted-average assumptions: . ||2012|2011|2010| |expected volatility|27.8% ( 27.8 % )|27.3% ( 27.3 % )|28.6% ( 28.6 % )| |risk-free interest rate|0.8% ( 0.8 % )|1.7% ( 1.7 % )|2.4% ( 2.4 % )| |dividend yield|3.2% ( 3.2 % )|2.7% ( 2.7 % )|2.9% ( 2.9 % )| |expected life ( in years )|4.5|4.4|4.3| |contractual life ( in years )|7.0|7.0|7.0| . Question: what was the percentage decline in the weighted-average estimated fair values of stock options granted from 2011 to 2012
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
0.93934
Context:2022 selling costs increased $ 25.0 million to $ 94.6 million in 2010 from $ 69.6 million in 2009 . this increase was primarily due to higher personnel and other costs incurred for the continued expansion of our direct to consumer distribution channel and higher selling personnel costs , including increased expenses for our performance incentive plan as compared to the prior year . as a percentage of net revenues , selling costs increased to 8.9% ( 8.9 % ) in 2010 from 8.1% ( 8.1 % ) in 2009 primarily due to higher personnel and other costs incurred for the continued expansion of our factory house stores . 2022 product innovation and supply chain costs increased $ 25.0 million to $ 96.8 million in 2010 from $ 71.8 million in 2009 primarily due to higher personnel costs for the design and sourcing of our expanding apparel , footwear and accessories lines and higher distribution facilities operating and personnel costs as compared to the prior year to support our growth in net revenues . in addition , we incurred higher expenses for our performance incentive plan as compared to the prior year . as a percentage of net revenues , product innovation and supply chain costs increased to 9.1% ( 9.1 % ) in 2010 from 8.4% ( 8.4 % ) in 2009 primarily due to the items noted above . 2022 corporate services costs increased $ 24.0 million to $ 98.6 million in 2010 from $ 74.6 million in 2009 . this increase was attributable primarily to higher corporate facility costs , information technology initiatives and corporate personnel costs , including increased expenses for our performance incentive plan as compared to the prior year . as a percentage of net revenues , corporate services costs increased to 9.3% ( 9.3 % ) in 2010 from 8.7% ( 8.7 % ) in 2009 primarily due to the items noted above . income from operations increased $ 27.1 million , or 31.8% ( 31.8 % ) , to $ 112.4 million in 2010 from $ 85.3 million in 2009 . income from operations as a percentage of net revenues increased to 10.6% ( 10.6 % ) in 2010 from 10.0% ( 10.0 % ) in 2009 . this increase was a result of the items discussed above . interest expense , net remained unchanged at $ 2.3 million in 2010 and 2009 . other expense , net increased $ 0.7 million to $ 1.2 million in 2010 from $ 0.5 million in 2009 . the increase in 2010 was due to higher net losses on the combined foreign currency exchange rate changes on transactions denominated in the euro and canadian dollar and our derivative financial instruments as compared to 2009 . provision for income taxes increased $ 4.8 million to $ 40.4 million in 2010 from $ 35.6 million in 2009 . our effective tax rate was 37.1% ( 37.1 % ) in 2010 compared to 43.2% ( 43.2 % ) in 2009 , primarily due to tax planning strategies and federal and state tax credits reducing the effective tax rate , partially offset by a valuation allowance recorded against our foreign net operating loss carryforward . segment results of operations year ended december 31 , 2011 compared to year ended december 31 , 2010 net revenues by geographic region are summarized below: . |( in thousands )|year ended december 31 , 2011|year ended december 31 , 2010|year ended december 31 , $ change|year ended december 31 , % ( % ) change| |north america|$ 1383346|$ 997816|$ 385530|38.6% ( 38.6 % )| |other foreign countries|89338|66111|23227|35.1| |total net revenues|$ 1472684|$ 1063927|$ 408757|38.4% ( 38.4 % )| net revenues in our north american operating segment increased $ 385.5 million to $ 1383.3 million in 2011 from $ 997.8 million in 2010 primarily due to the items discussed above in the consolidated results of operations . net revenues in other foreign countries increased by $ 23.2 million to $ 89.3 million in 2011 from $ 66.1 million in 2010 primarily due to footwear shipments to our dome licensee , as well as unit sales growth to our distributors in our latin american operating segment. . Question: what was the percent of the north america to the total revenues
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
131.0
Context:visa inc . notes to consolidated financial statements 2014 ( continued ) september 30 , 2013 market condition is based on the company 2019s total shareholder return ranked against that of other companies that are included in the standard & poor 2019s 500 index . the fair value of the performance- based shares , incorporating the market condition , is estimated on the grant date using a monte carlo simulation model . the grant-date fair value of performance-based shares in fiscal 2013 , 2012 and 2011 was $ 164.14 , $ 97.84 and $ 85.05 per share , respectively . earned performance shares granted in fiscal 2013 and 2012 vest approximately three years from the initial grant date . earned performance shares granted in fiscal 2011 vest in two equal installments approximately two and three years from their respective grant dates . all performance awards are subject to earlier vesting in full under certain conditions . compensation cost for performance-based shares is initially estimated based on target performance . it is recorded net of estimated forfeitures and adjusted as appropriate throughout the performance period . at september 30 , 2013 , there was $ 15 million of total unrecognized compensation cost related to unvested performance-based shares , which is expected to be recognized over a weighted-average period of approximately 1.0 years . note 17 2014commitments and contingencies commitments . the company leases certain premises and equipment throughout the world with varying expiration dates . the company incurred total rent expense of $ 94 million , $ 89 million and $ 76 million in fiscal 2013 , 2012 and 2011 , respectively . future minimum payments on leases , and marketing and sponsorship agreements per fiscal year , at september 30 , 2013 , are as follows: . |( in millions )|2014|2015|2016|2017|2018|thereafter|total| |operating leases|$ 100|$ 77|$ 43|$ 35|$ 20|$ 82|$ 357| |marketing and sponsorships|116|117|61|54|54|178|580| |total|$ 216|$ 194|$ 104|$ 89|$ 74|$ 260|$ 937| select sponsorship agreements require the company to spend certain minimum amounts for advertising and marketing promotion over the life of the contract . for commitments where the individual years of spend are not specified in the contract , the company has estimated the timing of when these amounts will be spent . in addition to the fixed payments stated above , select sponsorship agreements require the company to undertake marketing , promotional or other activities up to stated monetary values to support events which the company is sponsoring . the stated monetary value of these activities typically represents the value in the marketplace , which may be significantly in excess of the actual costs incurred by the company . client incentives . the company has agreements with financial institution clients and other business partners for various programs designed to build payments volume , increase visa-branded card and product acceptance and win merchant routing transactions . these agreements , with original terms ranging from one to thirteen years , can provide card issuance and/or conversion support , volume/growth targets and marketing and program support based on specific performance requirements . these agreements are designed to encourage client business and to increase overall visa-branded payment and transaction volume , thereby reducing per-unit transaction processing costs and increasing brand awareness for all visa clients . payments made that qualify for capitalization , and obligations incurred under these programs are reflected on the consolidated balance sheet . client incentives are recognized primarily as a reduction . Question: what was the average rent expense from 2011 to 2013 in millions
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
6381342.0
Context:entergy corporation and subsidiaries notes to financial statements ( a ) consists of pollution control revenue bonds and environmental revenue bonds . ( b ) the bonds are secured by a series of collateral first mortgage bonds . ( c ) in december 2005 , entergy corporation sold 10 million equity units with a stated amount of $ 50 each . an equity unit consisted of ( 1 ) a note , initially due february 2011 and initially bearing interest at an annual rate of 5.75% ( 5.75 % ) , and ( 2 ) a purchase contract that obligated the holder of the equity unit to purchase for $ 50 between 0.5705 and 0.7074 shares of entergy corporation common stock on or before february 17 , 2009 . entergy paid the holders quarterly contract adjustment payments of 1.875% ( 1.875 % ) per year on the stated amount of $ 50 per equity unit . under the terms of the purchase contracts , entergy attempted to remarket the notes in february 2009 but was unsuccessful , the note holders put the notes to entergy , entergy retired the notes , and entergy issued 6598000 shares of common stock in the settlement of the purchase contracts . ( d ) 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 ( e ) the fair value excludes lease obligations , long-term doe obligations , and the note payable to nypa , and includes debt due within one year . it is determined using bid prices reported by dealer markets and by nationally recognized investment banking firms . ( f ) entergy gulf states louisiana remains primarily liable for all of the long-term debt issued by entergy gulf states , inc . that was outstanding on december 31 , 2008 and 2007 . under a debt assumption agreement with entergy gulf states louisiana , entergy texas assumed approximately 46% ( 46 % ) of this long-term debt . the annual long-term debt maturities ( excluding lease obligations ) for debt outstanding as of december 31 , 2008 , for the next five years are as follows : amount ( in thousands ) . ||amount ( in thousands )| |2009|$ 516019| |2010|$ 763036| |2011|$ 897367| |2012|$ 3625459| |2013|$ 579461| 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 in 2001 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 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 . 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 utility operating companies default on other indebtedness or are in bankruptcy or insolvency proceedings , an acceleration of the notes' maturity dates may occur . entergy gulf states louisiana , entergy louisiana , entergy mississippi , entergy texas , and system energy have received ferc long-term financing orders authorizing long-term securities issuances . entergy arkansas has . Question: as of december 2008 what was the sum of the annual long-term debt maturities due in five years
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
0.64109
Context:contractual obligations significant contractual obligations as of december 30 , 2017 were as follows: . |( in millions )|payments due by period total|payments due by period less than1 year|payments due by period 1 20133 years|payments due by period 3 20135 years|payments due by period more than5 years| |operating lease obligations|$ 1245|$ 215|$ 348|$ 241|$ 441| |capital purchase obligations1|12068|9689|2266|113|2014| |other purchase obligations and commitments2|2692|1577|1040|55|20| |tax obligations3|6120|490|979|979|3672| |long-term debt obligations4|42278|1495|5377|8489|26917| |other long-term liabilities5|1544|799|422|190|133| |total6|$ 65947|$ 14265|$ 10432|$ 10067|$ 31183| capital purchase obligations1 12068 9689 2266 113 2014 other purchase obligations and commitments2 2692 1577 1040 55 20 tax obligations3 6120 490 979 979 3672 long-term debt obligations4 42278 1495 5377 8489 26917 other long-term liabilities5 1544 799 422 190 133 total6 $ 65947 $ 14265 $ 10432 $ 10067 $ 31183 1 capital purchase obligations represent commitments for the construction or purchase of property , plant and equipment . they were not recorded as liabilities on our consolidated balance sheets as of december 30 , 2017 , as we had not yet received the related goods nor taken title to the property . 2 other purchase obligations and commitments include payments due under various types of licenses and agreements to purchase goods or services , as well as payments due under non-contingent funding obligations . 3 tax obligations represent the future cash payments related to tax reform enacted in 2017 for the one-time provisional transition tax on our previously untaxed foreign earnings . for further information , see 201cnote 8 : income taxes 201d within the consolidated financial statements . 4 amounts represent principal and interest cash payments over the life of the debt obligations , including anticipated interest payments that are not recorded on our consolidated balance sheets . debt obligations are classified based on their stated maturity date , regardless of their classification on the consolidated balance sheets . any future settlement of convertible debt would impact our cash payments . 5 amounts represent future cash payments to satisfy other long-term liabilities recorded on our consolidated balance sheets , including the short-term portion of these long-term liabilities . derivative instruments are excluded from the preceding table , as they do not represent the amounts that may ultimately be paid . 6 total excludes contractual obligations already recorded on our consolidated balance sheets as current liabilities , except for the short-term portions of long-term debt obligations and other long-term liabilities . the expected timing of payments of the obligations in the preceding table is estimated based on current information . timing of payments and actual amounts paid may be different , depending on the time of receipt of goods or services , or changes to agreed- upon amounts for some obligations . contractual obligations for purchases of goods or services included in 201cother purchase obligations and commitments 201d in the preceding table include agreements that are enforceable and legally binding on intel and that specify all significant terms , including fixed or minimum quantities to be purchased ; fixed , minimum , or variable price provisions ; and the approximate timing of the transaction . for obligations with cancellation provisions , the amounts included in the preceding table were limited to the non-cancelable portion of the agreement terms or the minimum cancellation fee . for the purchase of raw materials , we have entered into certain agreements that specify minimum prices and quantities based on a percentage of the total available market or based on a percentage of our future purchasing requirements . due to the uncertainty of the future market and our future purchasing requirements , as well as the non-binding nature of these agreements , obligations under these agreements have been excluded from the preceding table . our purchase orders for other products are based on our current manufacturing needs and are fulfilled by our vendors within short time horizons . in addition , some of our purchase orders represent authorizations to purchase rather than binding agreements . contractual obligations that are contingent upon the achievement of certain milestones have been excluded from the preceding table . most of our milestone-based contracts are tooling related for the purchase of capital equipment . these arrangements are not considered contractual obligations until the milestone is met by the counterparty . as of december 30 , 2017 , assuming that all future milestones are met , the additional required payments would be approximately $ 2.0 billion . for the majority of restricted stock units ( rsus ) granted , the number of shares of common stock issued on the date the rsus vest is net of the minimum statutory withholding requirements that we pay in cash to the appropriate taxing authorities on behalf of our employees . the obligation to pay the relevant taxing authority is excluded from the preceding table , as the amount is contingent upon continued employment . in addition , the amount of the obligation is unknown , as it is based in part on the market price of our common stock when the awards vest . md&a - results of operations consolidated results and analysis 38 . Question: what percentage of total contractual obligations do long-term debt obligations make up as of december 30 2017?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
0.6383
Context:we operated the following factory stores as of march 29 , 2014: . |location|factory stores| |the americas|150| |europe|50| |asia ( a )|35| |total|235| ( a ) includes australia , china , hong kong , japan , malaysia , south korea , and taiwan . our factory stores in the americas offer selections of our menswear , womenswear , childrenswear , accessories , home furnishings , and fragrances . ranging in size from approximately 2700 to 20000 square feet , with an average of approximately 10400 square feet , these stores are principally located in major outlet centers in 40 states in the u.s. , canada , and puerto rico . our factory stores in europe offer selections of our menswear , womenswear , childrenswear , accessories , home furnishings , and fragrances . ranging in size from approximately 1400 to 19700 square feet , with an average of approximately 7000 square feet , these stores are located in 12 countries , principally in major outlet centers . our factory stores in asia offer selections of our menswear , womenswear , childrenswear , accessories , and fragrances . ranging in size from approximately 1100 to 11800 square feet , with an average of approximately 6200 square feet , these stores are primarily located throughout china and japan , in hong kong , and in or near other major cities in asia and australia . our factory stores are principally located in major outlet centers . factory stores obtain products from our suppliers , our product licensing partners , and our other retail stores and e-commerce operations , and also serve as a secondary distribution channel for our excess and out-of-season products . concession-based shop-within-shops the terms of trade for shop-within-shops are largely conducted on a concession basis , whereby inventory continues to be owned by us ( not the department store ) until ultimate sale to the end consumer . the salespeople involved in the sales transactions are generally our employees and not those of the department store . as of march 29 , 2014 , we had 503 concession-based shop-within-shops at 243 retail locations dedicated to our products , which were located in asia , australia , new zealand , and europe . the size of our concession-based shop-within-shops ranges from approximately 140 to 7400 square feet . we may share in the cost of building-out certain of these shop-within-shops with our department store partners . e-commerce websites in addition to our stores , our retail segment sells products online through our e-commerce channel , which includes : 2022 our north american e-commerce sites located at www.ralphlauren.com and www.clubmonaco.com , as well as our club monaco site in canada located at www.clubmonaco.ca ; 2022 our ralph lauren e-commerce sites in europe , including www.ralphlauren.co.uk ( servicing the united kingdom ) , www.ralphlauren.fr ( servicing belgium , france , italy , luxembourg , the netherlands , portugal , and spain ) , and www.ralphlauren.de ( servicing germany and austria ) ; and 2022 our ralph lauren e-commerce sites in asia , including www.ralphlauren.co.jp servicing japan and www.ralphlauren.co.kr servicing south korea . our ralph lauren e-commerce sites in the u.s. , europe , and asia offer our customers access to a broad array of ralph lauren , rrl , polo , and denim & supply apparel , accessories , fragrance , and home products , and reinforce the luxury image of our brands . while investing in e-commerce operations remains a primary focus , it is an extension of our investment in the integrated omni-channel strategy used to operate our overall retail business , in which our e-commerce operations are interdependent with our physical stores . our club monaco e-commerce sites in the u.s . and canada offer our domestic and canadian customers access to our club monaco global assortment of womenswear , menswear , and accessories product lines , as well as select online exclusives. . Question: what percentage of factory stores as of march 29 , 2014 are in the americas?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
5.64516
Context:maturities of long-term debt for the five years subsequent to december 31 , 2005 are as follows ( in millions ) : . |2006|2007|2008|2009|2010|thereafter|total| |$ 492|$ 622|$ 85|$ 44|$ 0|$ 558|$ 1801| long-term debt payments due in 2006 include $ 350 million of dealer remarketable securities ( final maturity 2010 ) and $ 62 million of medium-term notes ( final maturity 2044 ) . these securities are classified as current portion of long-term debt as the result of put provisions associated with these debt instruments . the next date on which investors can require the company to repurchase the convertible notes is 2007 , thus in the above schedule these securities are considered due in 2007 ( final maturity 2032 ) . the esop debt is serviced by dividends on stock held by the esop and by company contributions . these contributions are not reported as interest expense , but are reported as an employee benefit expense in the consolidated statement of income . other borrowings includes debt held by 3m 2019s international companies and floating rate notes in the united states , with the long-term portion of this debt primarily comprised of u.s . dollar floating rate debt . at december 31 , 2005 , available short-term committed lines of credit globally totaled about $ 618 million , of which $ 101 million was utilized . debt covenants do not restrict the payment of dividends . 3m has a medium-term notes program and shelf registration that have remaining capacity of approximately $ 1.438 billion at december 31 , 2005 . in september 2003 , the company filed a shelf registration statement with the securities and exchange commission relating to the potential offering of debt securities of up to $ 1.5 billion . this shelf registration became effective in october 2003 . in december 2003 , the company established under the shelf a medium-term notes program through which up to $ 1.5 billion of medium-term notes may be offered . 3m plans to use the net proceeds from issuances of debt securities under this registration for general corporate purposes , including the repayment of debt ; investments in or extensions of credit to 3m subsidiaries ; or the financing of possible acquisitions or business expansion . at december 31 , 2004 , $ 62 million of medium-term notes had been issued under the medium-term notes program . no debt was issued under this program in 2005 . 3m may redeem its 30-year zero-coupon senior notes ( the 201cconvertible notes 201d ) at any time in whole or in part , beginning november 21 , 2007 , at the accreted conversion price ; however , bondholders may convert upon notification of redemption into 9.4602 shares of 3m common stock . holders of the 30-year zero-coupon senior notes have the option to require 3m to purchase their notes at accreted value on november 21 in the years 2005 , 2007 , 2012 , 2017 , 2022 and 2027 . in november 2005 , 22506 of the 639000 in outstanding bonds were redeemed , resulting in a payout from 3m of approximately $ 20 million . this reduced the convertible notes 2019 face value at maturity to $ 616 million , which equates to a book value of approximately $ 539 million at december 31 , 2005 . as disclosed in a form 8-k in november 2005 , 3m amended the terms of these securities to pay cash at a rate of 2.40% ( 2.40 % ) per annum of the principal amount at maturity of the company 2019s convertible notes , which equates to 2.75% ( 2.75 % ) per annum of the notes 2019 accreted value on november 21 , 2005 . the cash interest payments will be made semiannually in arrears on may 22 , 2006 , november 22 , 2006 , may 22 , 2007 and november 22 , 2007 to holders of record on the 15th calendar day preceding each such interest payment date . 3m originally sold $ 639 million in aggregate face amount of these 201cconvertible notes 201d on november 15 , 2002 , which are convertible into shares of 3m common stock . the gross proceeds from the offering , to be used for general corporate purposes , were $ 550 million ( $ 540 million net of issuance costs ) . debt issuance costs were amortized on a straight-line basis over a three-year period beginning in november 2002 . on february 14 , 2003 , 3m registered these convertible notes in a registration statement filed with the securities and exchange commission . the terms of the convertible notes include a yield to maturity of .50% ( .50 % ) and an initial conversion premium of 40% ( 40 % ) over the $ 65.00 ( split-adjusted ) closing price of 3m common stock on november 14 , 2002 . if certain conditions for conversion ( relating to the closing common stock prices of 3m exceeding the conversion trigger price for specified periods ) are met , holders may convert each of the 30-year zero-coupon senior notes into 9.4602 shares of 3m common stock in any calendar quarter commencing after march 31 , 2003 . the conversion trigger price for the fourth quarter of 2005 was $ 120.00 per share . if the conditions for conversion are met , and 3m elects not to settle in cash , the 30-year zero-coupon senior notes will be convertible in the aggregate into approximately 5.8 million shares of 3m common stock . 3m may choose to pay the redemption purchase price in cash and/or common stock ; however , if redemption occurs , the company has the intent and ability to settle this debt security in cash . the conditions for conversion have never been met ; accordingly , there has been no impact on 3m 2019s diluted earnings per share . for a discussion of accounting pronouncements that will affect accounting treatment for the convertible note , refer to note 1 to the consolidated financial statements for discussion of eitf issue no . 04-08 , 201cthe effect of contingently convertible debt on diluted earnings per share 201d and proposed sfas no . 128r , 201cearnings per share 201d. . Question: in 2006 what was the ratio of the long-term debt payments due dealer remarketable securities to the medium-term notes
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
0.49062
Context:cgmhi has committed long-term financing facilities with unaffiliated banks . at december 31 , 2010 , cgmhi had drawn down the full $ 900 million available under these facilities , of which $ 150 million is guaranteed by citigroup . generally , a bank can terminate these facilities by giving cgmhi one-year prior notice . the company issues both fixed and variable rate debt in a range of currencies . it uses derivative contracts , primarily interest rate swaps , to effectively convert a portion of its fixed rate debt to variable rate debt and variable rate debt to fixed rate debt . the maturity structure of the derivatives generally corresponds to the maturity structure of the debt being hedged . in addition , the company uses other derivative contracts to manage the foreign exchange impact of certain debt issuances . at december 31 , 2010 , the company 2019s overall weighted average interest rate for long-term debt was 3.53% ( 3.53 % ) on a contractual basis and 2.78% ( 2.78 % ) including the effects of derivative contracts . aggregate annual maturities of long-term debt obligations ( based on final maturity dates ) including trust preferred securities are as follows : long-term debt at december 31 , 2010 and december 31 , 2009 includes $ 18131 million and $ 19345 million , respectively , of junior subordinated debt . the company formed statutory business trusts under the laws of the state of delaware . the trusts exist for the exclusive purposes of ( i ) issuing trust securities representing undivided beneficial interests in the assets of the trust ; ( ii ) investing the gross proceeds of the trust securities in junior subordinated deferrable interest debentures ( subordinated debentures ) of its parent ; and ( iii ) engaging in only those activities necessary or incidental thereto . upon approval from the federal reserve , citigroup has the right to redeem these securities . citigroup has contractually agreed not to redeem or purchase ( i ) the 6.50% ( 6.50 % ) enhanced trust preferred securities of citigroup capital xv before september 15 , 2056 , ( ii ) the 6.45% ( 6.45 % ) enhanced trust preferred securities of citigroup capital xvi before december 31 , 2046 , ( iii ) the 6.35% ( 6.35 % ) enhanced trust preferred securities of citigroup capital xvii before march 15 , 2057 , ( iv ) the 6.829% ( 6.829 % ) fixed rate/floating rate enhanced trust preferred securities of citigroup capital xviii before june 28 , 2047 , ( v ) the 7.250% ( 7.250 % ) enhanced trust preferred securities of citigroup capital xix before august 15 , 2047 , ( vi ) the 7.875% ( 7.875 % ) enhanced trust preferred securities of citigroup capital xx before december 15 , 2067 , and ( vii ) the 8.300% ( 8.300 % ) fixed rate/floating rate enhanced trust preferred securities of citigroup capital xxi before december 21 , 2067 , unless certain conditions , described in exhibit 4.03 to citigroup 2019s current report on form 8-k filed on september 18 , 2006 , in exhibit 4.02 to citigroup 2019s current report on form 8-k filed on november 28 , 2006 , in exhibit 4.02 to citigroup 2019s current report on form 8-k filed on march 8 , 2007 , in exhibit 4.02 to citigroup 2019s current report on form 8-k filed on july 2 , 2007 , in exhibit 4.02 to citigroup 2019s current report on form 8-k filed on august 17 , 2007 , in exhibit 4.2 to citigroup 2019s current report on form 8-k filed on november 27 , 2007 , and in exhibit 4.2 to citigroup 2019s current report on form 8-k filed on december 21 , 2007 , respectively , are met . these agreements are for the benefit of the holders of citigroup 2019s 6.00% ( 6.00 % ) junior subordinated deferrable interest debentures due 2034 . citigroup owns all of the voting securities of these subsidiary trusts . these subsidiary trusts have no assets , operations , revenues or cash flows other than those related to the issuance , administration , and repayment of the subsidiary trusts and the subsidiary trusts 2019 common securities . these subsidiary trusts 2019 obligations are fully and unconditionally guaranteed by citigroup. . |in millions of dollars|2011|2012|2013|2014|2015|thereafter| |bank|$ 35066|$ 38280|$ 8013|$ 7620|$ 6380|$ 17875| |non-bank|15213|25950|7858|5187|3416|18381| |parent company|21194|30004|21348|19096|12131|88171| |total|$ 71473|$ 94234|$ 37219|$ 31903|$ 21927|$ 124427| . Question: in 2011 what percentage of total subsidiary trusts obligations are due to bank subsidiary?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
180.04
Context:the descriptions and fair value methodologies for the u.s . and international pension plan assets are as follows : cash and cash equivalents the carrying amounts of cash and cash equivalents approximate fair value due to the short-term maturity . equity securities equity securities are valued at the closing market price reported on a u.s . or international exchange where the security is actively traded and are therefore classified as level 1 assets . equity mutual and pooled funds shares of mutual funds are valued at the net asset value ( nav ) of the fund and are classified as level 1 assets . units of pooled funds are valued at the per unit nav determined by the fund manager based on the value of the underlying traded holdings and are classified as level 2 assets . corporate and government bonds corporate and government bonds are classified as level 2 assets , as they are either valued at quoted market prices from observable pricing sources at the reporting date or valued based upon comparable securities with similar yields and credit ratings . other pooled funds other pooled funds classified as level 2 assets are valued at the nav of the shares held at year end , which is based on the fair value of the underlying investments . securities and interests classified as level 3 are carried at the estimated fair value . the estimated fair value is based on the fair value of the underlying investment values , which includes estimated bids from brokers or other third-party vendor sources that utilize expected cash flow streams and other uncorroborated data including counterparty credit quality , default risk , discount rates , and the overall capital market liquidity . insurance contracts insurance contracts are classified as level 3 assets , as they are carried at contract value , which approximates the estimated fair value . the estimated fair value is based on the fair value of the underlying investment of the insurance company and discount rates that require inputs with limited observability . contributions and projected benefit payments pension contributions to funded plans and benefit payments for unfunded plans for fiscal year 2018 were $ 68.3 . contributions for funded plans resulted primarily from contractual and regulatory requirements . benefit payments to unfunded plans were due primarily to the timing of retirements . we anticipate contributing $ 45 to $ 65 to the defined benefit pension plans in fiscal year 2019 . these contributions are anticipated to be driven primarily by contractual and regulatory requirements for funded plans and benefit payments for unfunded plans , which are dependent upon timing of retirements . projected benefit payments , which reflect expected future service , are as follows: . ||u.s .|international| |2019|$ 165.5|$ 52.8| |2020|152.4|53.9| |2021|157.0|55.6| |2022|163.7|56.0| |2023|167.9|60.6| |2024-2028|900.2|336.8| these estimated benefit payments are based on assumptions about future events . actual benefit payments may vary significantly from these estimates. . Question: considering the years 2024-2028 , what is the average for the u.s . estimated benefit payments by year?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
0.75033
Context:we , in the normal course of business operations , have issued product warranties related to equipment sales . also , contracts often contain standard terms and conditions which typically include a warranty and indemnification to the buyer that the goods and services purchased do not infringe on third-party intellectual property rights . the provision for estimated future costs relating to warranties is not material to the consolidated financial statements . we do not expect that any sum we may have to pay in connection with guarantees and warranties will have a material adverse effect on our consolidated financial condition , liquidity , or results of operations . unconditional purchase obligations we are obligated to make future payments under unconditional purchase obligations as summarized below: . |2017|$ 942| |2018|525| |2019|307| |2020|298| |2021|276| |thereafter|2983| |total|$ 5331| approximately $ 4000 of our unconditional purchase obligations relate to helium purchases , which include crude feedstock supply to multiple helium refining plants in north america as well as refined helium purchases from sources around the world . as a rare byproduct of natural gas production in the energy sector , these helium sourcing agreements are medium- to long-term and contain take-or-pay provisions . the refined helium is distributed globally and sold as a merchant gas , primarily under medium-term requirements contracts . while contract terms in the energy sector are longer than those in merchant , helium is a rare gas used in applications with few or no substitutions because of its unique physical and chemical properties . approximately $ 330 of our long-term unconditional purchase obligations relate to feedstock supply for numerous hyco ( hydrogen , carbon monoxide , and syngas ) facilities . the price of feedstock supply is principally related to the price of natural gas . however , long-term take-or-pay sales contracts to hyco customers are generally matched to the term of the feedstock supply obligations and provide recovery of price increases in the feedstock supply . due to the matching of most long-term feedstock supply obligations to customer sales contracts , we do not believe these purchase obligations would have a material effect on our financial condition or results of operations . the unconditional purchase obligations also include other product supply and purchase commitments and electric power and natural gas supply purchase obligations , which are primarily pass-through contracts with our customers . purchase commitments to spend approximately $ 350 for additional plant and equipment are included in the unconditional purchase obligations in 2017 . in addition , we have purchase commitments totaling approximately $ 500 in 2017 and 2018 relating to our long-term sale of equipment project for saudi aramco 2019s jazan oil refinery . 18 . capital stock common stock authorized common stock consists of 300 million shares with a par value of $ 1 per share . as of 30 september 2016 , 249 million shares were issued , with 217 million outstanding . on 15 september 2011 , the board of directors authorized the repurchase of up to $ 1000 of our outstanding common stock . we repurchase shares pursuant to rules 10b5-1 and 10b-18 under the securities exchange act of 1934 , as amended , through repurchase agreements established with several brokers . we did not purchase any of our outstanding shares during fiscal year 2016 . at 30 september 2016 , $ 485.3 in share repurchase authorization remains. . Question: considering the total unconditional purchase obligations , what is the percentage of helium purchases concerning the total value?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
47247.0
Context:during the fixed rate interest period from may 3 , 2007 through may 14 , 2017 , interest will be at the annual rate of 6.6% ( 6.6 % ) , payable semi-annually in arrears on november 15 and may 15 of each year , commencing on november 15 , 2007 , subject to holdings 2019 right to defer interest on one or more occasions for up to ten consecutive years . during the floating rate interest period from may 15 , 2017 through maturity , interest will be based on the 3 month libor plus 238.5 basis points , reset quarterly , payable quarterly in arrears on february 15 , may 15 , august 15 and november 15 of each year , subject to holdings 2019 right to defer interest on one or more occasions for up to ten consecutive years . deferred interest will accumulate interest at the applicable rate compounded semi-annually for periods prior to may 15 , 2017 , and compounded quarterly for periods from and including may 15 , 2017 . holdings can redeem the long term subordinated notes prior to may 15 , 2017 , in whole but not in part at the applicable redemption price , which will equal the greater of ( a ) 100% ( 100 % ) of the principal amount being redeemed and ( b ) the present value of the principal payment on may 15 , 2017 and scheduled payments of interest that would have accrued from the redemption date to may 15 , 2017 on the long term subordinated notes being redeemed , discounted to the redemption date on a semi-annual basis at a discount rate equal to the treasury rate plus an applicable spread of either 0.25% ( 0.25 % ) or 0.50% ( 0.50 % ) , in each case plus accrued and unpaid interest . holdings may redeem the long term subordinated notes on or after may 15 , 2017 , in whole or in part at 100% ( 100 % ) of the principal amount plus accrued and unpaid interest ; however , redemption on or after the scheduled maturity date and prior to may 1 , 2047 is subject to a replacement capital covenant . this covenant is for the benefit of certain senior note holders and it mandates that holdings receive proceeds from the sale of another subordinated debt issue , of at least similar size , before it may redeem the subordinated notes . effective upon the maturity of the company 2019s 5.40% ( 5.40 % ) senior notes on october 15 , 2014 , the company 2019s 4.868% ( 4.868 % ) senior notes , due on june 1 , 2044 , have become the company 2019s long term indebtedness that ranks senior to the long term subordinated notes . on march 19 , 2009 , group announced the commencement of a cash tender offer for any and all of the 6.60% ( 6.60 % ) fixed to floating rate long term subordinated notes . upon expiration of the tender offer , the company had reduced its outstanding debt by $ 161441 thousand . interest expense incurred in connection with these long term subordinated notes is as follows for the periods indicated: . |( dollars in thousands )|years ended december 31 , 2016|years ended december 31 , 2015|years ended december 31 , 2014| |interest expense incurred|$ 15749|$ 15749|$ 15749| 8 . collateralized reinsurance and trust agreements certain subsidiaries of group have established trust agreements , which effectively use the company 2019s investments as collateral , as security for assumed losses payable to certain non-affiliated ceding companies . at december 31 , 2016 , the total amount on deposit in trust accounts was $ 466029 thousand . the company reinsures some of its catastrophe exposures with the segregated accounts of mt . logan re . mt . logan re is a class 3 insurer registered in bermuda effective february 27 , 2013 under the segregated accounts companies act 2000 and 100% ( 100 % ) of the voting common shares are owned by group . separate segregated accounts for mt . logan re began being established effective july 1 , 2013 and non-voting , redeemable preferred shares have been issued to capitalize the segregated accounts . each segregated account invests predominately in a diversified set of catastrophe exposures , diversified by risk/peril and across different geographic regions globally. . Question: what was the total interest expense incurred associated with the long term subordinated notes from 2014 to 2016 in thousands of dollars
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
687.0
Context:the aggregate changes in the balance of gross unrecognized tax benefits , which excludes interest and penalties , for 2012 , 2011 , and 2010 , is as follows ( in millions ) : . ||2012|2011|2010| |beginning balance|$ 1375|$ 943|$ 971| |increases related to tax positions taken during a prior year|340|49|61| |decreases related to tax positions taken during a prior year|-107 ( 107 )|-39 ( 39 )|-224 ( 224 )| |increases related to tax positions taken during the current year|467|425|240| |decreases related to settlements with taxing authorities|-3 ( 3 )|0|-102 ( 102 )| |decreases related to expiration of statute of limitations|-10 ( 10 )|-3 ( 3 )|-3 ( 3 )| |ending balance|$ 2062|$ 1375|$ 943| the company includes interest and penalties related to unrecognized tax benefits within the provision for income taxes . as of september 29 , 2012 and september 24 , 2011 , the total amount of gross interest and penalties accrued was $ 401 million and $ 261 million , respectively , which is classified as non-current liabilities in the consolidated balance sheets . in connection with tax matters , the company recognized interest expense in 2012 and 2011 of $ 140 million and $ 14 million , respectively , and in 2010 the company recognized an interest benefit of $ 43 million . the company is subject to taxation and files income tax returns in the u.s . federal jurisdiction and in many state and foreign jurisdictions . for u.s . federal income tax purposes , all years prior to 2004 are closed . the internal revenue service ( the 201cirs 201d ) has completed its field audit of the company 2019s federal income tax returns for the years 2004 through 2006 and proposed certain adjustments . the company has contested certain of these adjustments through the irs appeals office . the irs is currently examining the years 2007 through 2009 . in addition , the company is also subject to audits by state , local and foreign tax authorities . in major states and major foreign jurisdictions , the years subsequent to 1989 and 2002 , respectively , generally remain open and could be subject to examination by the taxing authorities . management believes that an adequate provision has been made for any adjustments that may result from tax examinations . however , the outcome of tax audits cannot be predicted with certainty . if any issues addressed in the company 2019s tax audits are resolved in a manner not consistent with management 2019s expectations , the company could be required to adjust its provision for income tax in the period such resolution occurs . although timing of the resolution and/or closure of audits is not certain , the company believes it is reasonably possible that tax audit resolutions could reduce its unrecognized tax benefits by between $ 120 million and $ 170 million in the next 12 months . note 6 2013 shareholders 2019 equity and share-based compensation preferred stock the company has five million shares of authorized preferred stock , none of which is issued or outstanding . under the terms of the company 2019s restated articles of incorporation , the board of directors is authorized to determine or alter the rights , preferences , privileges and restrictions of the company 2019s authorized but unissued shares of preferred stock . dividend and stock repurchase program in 2012 , the board of directors of the company approved a dividend policy pursuant to which it plans to make , subject to subsequent declaration , quarterly dividends of $ 2.65 per share . on july 24 , 2012 , the board of directors declared a dividend of $ 2.65 per share to shareholders of record as of the close of business on august 13 , 2012 . the company paid $ 2.5 billion in conjunction with this dividend on august 16 , 2012 . no dividends were declared in the first three quarters of 2012 or in 2011 and 2010. . Question: what was the aggregate change in the ending balance of gross unrecognized tax benefits , which excludes interest and penalties between 2012 and 2011?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
0.87878
Context:2022 international . in general , our international markets are less advanced with respect to the current technologies deployed for wireless services . as a result , demand for our communications sites is driven by continued voice network investments , new market entrants and initial 3g data network deployments . for example , in india , nationwide voice networks continue to be deployed as wireless service providers are beginning their initial investments in 3g data networks , as a result of recent spectrum auctions . in mexico and brazil , where nationwide voice networks have been deployed , some incumbent wireless service providers continue to invest in their 3g data networks , and recent spectrum auctions have enabled other incumbent wireless service providers and new market entrants to begin their initial investments in 3g data networks . in markets such as chile and peru , recent spectrum auctions have attracted new market entrants , who are expected to begin their investment in deploying nationwide voice and 3g data networks . we believe demand for our tower sites will continue in our international markets as wireless service providers seek to remain competitive by increasing the coverage of their networks while also investing in next generation data networks . rental and management operations new site revenue growth . during the year ended december 31 , 2010 , we grew our portfolio of communications sites through acquisitions and construction activities , including the acquisition and construction of approximately 7800 sites . we continue to evaluate opportunities to acquire larger communications site portfolios , both domestically and internationally , that we believe we can effectively integrate into our existing portfolio. . |new sites ( acquired or constructed )|2010|2009|2008| |domestic|947|528|160| |international ( 1 )|6865|3022|801| ( 1 ) the majority of sites acquired or constructed internationally during 2010 and 2009 were in india and our newly launched operations in chile , colombia and peru . network development services segment revenue growth . as we continue to focus on growing our rental and management operations , we anticipate that our network development services revenue will continue to represent a small percentage of our total revenues . through our network development services segment , we offer tower-related services , including site acquisition , zoning and permitting services and structural analysis services , which primarily support our site leasing business and the addition of new tenants and equipment on our sites . rental and management operations expenses . our rental and management operations expenses include our direct site level expenses and consist primarily of ground rent , property taxes , repairs and maintenance and utilities . these segment level expenses exclude all segment and corporate level selling , general , administrative and development expenses , which are aggregated into one line item entitled selling , general , administrative and development expense . in general , our rental and management segment level selling , general and administrative expenses do not significantly increase as a result of adding incremental tenants to our legacy sites and typically increase only modestly year-over-year . as a result , leasing additional space to new tenants on our legacy sites provides significant incremental cash flow . in geographic areas where we have recently launched operations or are focused on materially expanding our site footprint , we may incur additional segment level selling , general and administrative expenses as we increase our presence in these areas . our profit margin growth is therefore positively impacted by the addition of new tenants to our legacy sites and can be temporarily diluted by our development activities . reit election . as we review our tax strategy and assess the utilization of our federal and state nols , we are actively considering an election to a reit for u.s . federal and , where applicable , state income tax purposes . we may make the determination to elect reit status for the taxable year beginning january 1 , 2012 , as early as the second half of 2011 , subject to the approval of our board of directors , although there is no certainty as to the timing of a reit election or whether we will make a reit election at all. . Question: what portion of the new sites acquired or constructed during 2010 is located outside united states?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
15963.5
Context:the table below represents unrealized losses related to derivative amounts included in 201caccumulated other comprehensive loss 201d for the years ended december 31 , ( in thousands ) : balance in accumulated other comprehensive loss . |contract type|balance in accumulated other comprehensive loss 2009|balance in accumulated other comprehensive loss 2008| |interest rate swaps|$ 13053|$ 18874| note 9 2013 fair value measurements the company uses the fair value hierarchy , which prioritizes the inputs used to measure the fair value of certain of its financial instruments . the hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities ( level 1 measurement ) and the lowest priority to unobservable inputs ( level 3 measurement ) . the three levels of the fair value hierarchy are set forth below : 2022 level 1 2013 quoted prices are available in active markets for identical assets or liabilities as of the reporting date . active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis . 2022 level 2 2013 pricing inputs are other than quoted prices in active markets included in level 1 , which are either directly or indirectly observable as of the reporting date . level 2 includes those financial instruments that are valued using models or other valuation methodologies . these models are primarily industry-standard models that consider various assumptions , including time value , volatility factors , and current market and contractual prices for the underlying instruments , as well as other relevant economic measures . substantially all of these assumptions are observable in the marketplace throughout the full term of the instrument , can be derived from observable data or are supported by observable levels at which transactions are executed in the marketplace . 2022 level 3 2013 pricing inputs include significant inputs that are generally less observable from objective sources . these inputs may be used with internally developed methodologies that result in management 2019s best estimate of fair value from the perspective of a market participant . the fair value of the interest rate swap transactions are based on the discounted net present value of the swap using third party quotes ( level 2 ) . changes in fair market value are recorded in other comprehensive income ( loss ) , and changes resulting from ineffectiveness are recorded in current earnings . assets and liabilities measured at fair value are based on one or more of three valuation techniques . the three valuation techniques are identified in the table below and are as follows : a ) market approach 2013 prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities b ) cost approach 2013 amount that would be required to replace the service capacity of an asset ( replacement cost ) c ) income approach 2013 techniques to convert future amounts to a single present amount based on market expectations ( including present value techniques , option-pricing and excess earnings models ) . Question: for unrealized losses related to derivative amounts included in 201caccumulated other comprehensive loss 201d for the years ended december 31 , ( in thousands ) , what was the average balance in accumulated other comprehensive loss for the two years?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
0.99
Context:stock performance graph comcast the graph below compares the yearly percentage change in the cumulative total shareholder return on comcast 2019s class a common stock during the five years ended december 31 , 2015 with the cumulative total returns on the standard & poor 2019s 500 stock index and with a select peer group consisting of us and other companies engaged in the cable , communications and media industries . this peer group consists of us , as well as cablevision systems corporation ( class a ) , dish network corporation ( class a ) , directv inc . ( included through july 24 , 2015 , the date of acquisition by at&t corp. ) and time warner cable inc . ( the 201ccable subgroup 201d ) , and time warner inc. , walt disney company , viacom inc . ( class b ) , twenty-first century fox , inc . ( class a ) , and cbs corporation ( class b ) ( the 201cmedia subgroup 201d ) . the peer group was constructed as a composite peer group in which the cable subgroup is weighted 63% ( 63 % ) and the media subgroup is weighted 37% ( 37 % ) based on the respective revenue of our cable communications and nbcuniversal segments . the graph assumes $ 100 was invested on december 31 , 2010 in our class a common stock and in each of the following indices and assumes the reinvestment of dividends . comparison of 5 year cumulative total return 12/1412/1312/1212/10 12/15 comcast class a s&p 500 peer group index . ||2011|2012|2013|2014|2015| |comcast class a|$ 110|$ 177|$ 250|$ 282|$ 279| |s&p 500 stock index|$ 102|$ 118|$ 156|$ 177|$ 180| |peer group index|$ 110|$ 157|$ 231|$ 267|$ 265| nbcuniversal nbcuniversal is a wholly owned subsidiary of nbcuniversal holdings and there is no market for its equity securities . 39 comcast 2015 annual report on form 10-k . Question: what was the differencet in percentage 5 year cumulative total return for comcast class a stock and the s&p 500 stock index for the year ended 2015?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
0.78699
Context:on the credit rating of the company and a $ 200 million term loan with an interest rate of libor plus a margin of 175 basis points , both with maturity dates in 2017 . the proceeds from these borrowings were used , along with available cash , to fund the acquisition of temple- inland . during 2012 , international paper fully repaid the $ 1.2 billion term loan . international paper utilizes interest rate swaps to change the mix of fixed and variable rate debt and manage interest expense . at december 31 , 2012 , international paper had interest rate swaps with a total notional amount of $ 150 million and maturities in 2013 ( see note 14 derivatives and hedging activities on pages 70 through 74 of item 8 . financial statements and supplementary data ) . during 2012 , existing swaps and the amortization of deferred gains on previously terminated swaps decreased the weighted average cost of debt from 6.8% ( 6.8 % ) to an effective rate of 6.6% ( 6.6 % ) . the inclusion of the offsetting interest income from short- term investments reduced this effective rate to 6.2% ( 6.2 % ) . other financing activities during 2012 included the issuance of approximately 1.9 million shares of treasury stock , net of restricted stock withholding , and 1.0 million shares of common stock for various incentive plans , including stock options exercises that generated approximately $ 108 million of cash . payment of restricted stock withholding taxes totaled $ 35 million . off-balance sheet variable interest entities information concerning off-balance sheet variable interest entities is set forth in note 12 variable interest entities and preferred securities of subsidiaries on pages 67 through 69 of item 8 . financial statements and supplementary data for discussion . liquidity and capital resources outlook for 2015 capital expenditures and long-term debt international paper expects to be able to meet projected capital expenditures , service existing debt and meet working capital and dividend requirements during 2015 through current cash balances and cash from operations . additionally , the company has existing credit facilities totaling $ 2.0 billion of which nothing has been used . the company was in compliance with all its debt covenants at december 31 , 2014 . the company 2019s financial covenants require the maintenance of a minimum net worth of $ 9 billion and a total debt-to- capital ratio of less than 60% ( 60 % ) . net worth is defined as the sum of common stock , paid-in capital and retained earnings , less treasury stock plus any cumulative goodwill impairment charges . the calculation also excludes accumulated other comprehensive income/ loss and nonrecourse financial liabilities of special purpose entities . the total debt-to-capital ratio is defined as total debt divided by the sum of total debt plus net worth . at december 31 , 2014 , international paper 2019s net worth was $ 14.0 billion , and the total-debt- to-capital ratio was 40% ( 40 % ) . the company will continue to rely upon debt and capital markets for the majority of any necessary long-term funding not provided by operating cash flows . funding decisions will be guided by our capital structure planning objectives . the primary goals of the company 2019s capital structure planning are to maximize financial flexibility and preserve liquidity while reducing interest expense . the majority of international paper 2019s debt is accessed through global public capital markets where we have a wide base of investors . maintaining an investment grade credit rating is an important element of international paper 2019s financing strategy . at december 31 , 2014 , the company held long-term credit ratings of bbb ( stable outlook ) and baa2 ( stable outlook ) by s&p and moody 2019s , respectively . contractual obligations for future payments under existing debt and lease commitments and purchase obligations at december 31 , 2014 , were as follows: . |in millions|2015|2016|2017|2018|2019|thereafter| |maturities of long-term debt ( a )|$ 742|$ 543|$ 71|$ 1229|$ 605|$ 6184| |debt obligations with right of offset ( b )|2014|5202|2014|2014|2014|2014| |lease obligations|142|106|84|63|45|91| |purchase obligations ( c )|3266|761|583|463|422|1690| |total ( d )|$ 4150|$ 6612|$ 738|$ 1755|$ 1072|$ 7965| ( a ) total debt includes scheduled principal payments only . ( b ) represents debt obligations borrowed from non-consolidated variable interest entities for which international paper has , and intends to effect , a legal right to offset these obligations with investments held in the entities . accordingly , in its consolidated balance sheet at december 31 , 2014 , international paper has offset approximately $ 5.2 billion of interests in the entities against this $ 5.3 billion of debt obligations held by the entities ( see note 12 variable interest entities and preferred securities of subsidiaries on pages 67 through 69 in item 8 . financial statements and supplementary data ) . ( c ) includes $ 2.3 billion relating to fiber supply agreements entered into at the time of the 2006 transformation plan forestland sales and in conjunction with the 2008 acquisition of weyerhaeuser company 2019s containerboard , packaging and recycling business . ( d ) not included in the above table due to the uncertainty as to the amount and timing of the payment are unrecognized tax benefits of approximately $ 119 million . as discussed in note 12 variable interest entities and preferred securities of subsidiaries on pages 67 through 69 in item 8 . financial statements and supplementary data , in connection with the 2006 international paper installment sale of forestlands , we received $ 4.8 billion of installment notes ( or timber notes ) , which we contributed to certain non- consolidated borrower entities . the installment notes mature in august 2016 ( unless extended ) . the deferred . Question: what percentage of contractual obligations for future payments under existing debt and lease commitments and purchase obligations at december 31 , 2014 due in 2015 are purchase obligations?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
547.69231
Context:administrative fees , which increased $ 5.8 million to $ 353.9 million , are generally offset by related operating expenses that are incurred to provide services to the funds and their investors . our largest expense , compensation and related costs , increased $ 18.4 million or 2.3% ( 2.3 % ) from 2007 . this increase includes $ 37.2 million in salaries resulting from an 8.4% ( 8.4 % ) increase in our average staff count and an increase of our associates 2019 base salaries at the beginning of the year . at december 31 , 2008 , we employed 5385 associates , up 6.0% ( 6.0 % ) from the end of 2007 , primarily to add capabilities and support increased volume-related activities and other growth over the past few years . over the course of 2008 , we slowed the growth of our associate base from earlier plans and the prior year . we also reduced our annual bonuses $ 27.6 million versus the 2007 year in response to unfavorable financial market conditions that negatively impacted our operating results . the balance of the increase is attributable to higher employee benefits and employment-related expenses , including an increase of $ 5.7 million in stock-based compensation . after higher spending during the first quarter of 2008 versus 2007 , investor sentiment in the uncertain and volatile market environment caused us to reduce advertising and promotion spending , which for the year was down $ 3.8 million from 2007 . occupancy and facility costs together with depreciation expense increased $ 18 million , or 12% ( 12 % ) compared to 2007 . we expanded and renovated our facilities in 2008 to accommodate the growth in our associates to meet business demands . other operating expenses were up $ 3.3 million from 2007 . we increased our spending $ 9.8 million , primarily for professional fees and information and other third-party services . reductions in travel and charitable contributions partially offset these increases . our non-operating investment activity resulted in a net loss of $ 52.3 million in 2008 as compared to a net gain of $ 80.4 million in 2007 . this change of $ 132.7 million is primarily attributable to losses recognized in 2008 on our investments in sponsored mutual funds , which resulted from declines in financial market values during the year. . ||2007|2008|change| |capital gain distributions received|$ 22.1|$ 5.6|$ -16.5 ( 16.5 )| |other than temporary impairments recognized|-.3 ( .3 )|-91.3 ( 91.3 )|-91.0 ( 91.0 )| |net gains ( losses ) realized onfund dispositions|5.5|-4.5 ( 4.5 )|-10.0 ( 10.0 )| |net gain ( loss ) recognized on fund holdings|$ 27.3|$ -90.2 ( 90.2 )|$ -117.5 ( 117.5 )| we recognized other than temporary impairments of our investments in sponsored mutual funds because of declines in fair value below cost for an extended period . the significant declines in fair value below cost that occurred in 2008 were generally attributable to adverse market conditions . in addition , income from money market and bond fund holdings was $ 19.3 million lower than in 2007 due to the significantly lower interest rate environment of 2008 . lower interest rates also led to substantial capital appreciation on our $ 40 million holding of u.s . treasury notes that we sold in december 2008 at a $ 2.6 million gain . the 2008 provision for income taxes as a percentage of pretax income is 38.4% ( 38.4 % ) , up from 37.7% ( 37.7 % ) in 2007 , primarily to reflect changes in state income tax rates and regulations and certain adjustments made prospectively based on our annual income tax return filings for 2007 . c a p i t a l r e s o u r c e s a n d l i q u i d i t y . during 2009 , stockholders 2019 equity increased from $ 2.5 billion to $ 2.9 billion . we repurchased nearly 2.3 million common shares for $ 67 million in 2009 . tangible book value is $ 2.2 billion at december 31 , 2009 , and our cash and cash equivalents and our mutual fund investment holdings total $ 1.4 billion . given the availability of these financial resources , we do not maintain an available external source of liquidity . on january 20 , 2010 , we purchased a 26% ( 26 % ) equity interest in uti asset management company and an affiliate for $ 142.4 million . we funded the acquisition from our cash holdings . in addition to the pending uti acquisition , we had outstanding commitments to fund other investments totaling $ 35.4 million at december 31 , 2009 . we presently anticipate funding 2010 property and equipment expenditures of about $ 150 million from our cash balances and operating cash inflows . 22 t . rowe price group annual report 2009 . Question: what is the total enterprise value in millions of uti asset management company and affiliate at the price paid for the 26% ( 26 % ) stake?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
0.00607
Context:amount of commitment expiration per period other commercial commitments after millions total 2015 2016 2017 2018 2019 2019 . |other commercial commitmentsmillions|total|amount of commitment expiration per period 2015|amount of commitment expiration per period 2016|amount of commitment expiration per period 2017|amount of commitment expiration per period 2018|amount of commitment expiration per period 2019|amount of commitment expiration per period after2019| |credit facilities [a]|$ 1700|$ -|$ -|$ -|$ -|$ 1700|$ -| |receivables securitization facility [b]|650|-|-|650|-|-|-| |guarantees [c]|82|12|26|10|11|8|15| |standby letters of credit [d]|40|34|6|-|-|-|-| |total commercialcommitments|$ 2472|$ 46|$ 32|$ 660|$ 11|$ 1708|$ 15| [a] none of the credit facility was used as of december 31 , 2014 . [b] $ 400 million of the receivables securitization facility was utilized as of december 31 , 2014 , which is accounted for as debt . the full program matures in july 2017 . [c] includes guaranteed obligations related to our equipment financings and affiliated operations . [d] none of the letters of credit were drawn upon as of december 31 , 2014 . off-balance sheet arrangements guarantees 2013 at december 31 , 2014 , and 2013 , we were contingently liable for $ 82 million and $ 299 million in guarantees . we have recorded liabilities of $ 0.3 million and $ 1 million for the fair value of these obligations as of december 31 , 2014 , and 2013 , respectively . we entered into these contingent guarantees in the normal course of business , and they include guaranteed obligations related to our equipment financings and affiliated operations . the final guarantee expires in 2022 . we are not aware of any existing event of default that would require us to satisfy these guarantees . we do not expect that these guarantees will have a material adverse effect on our consolidated financial condition , results of operations , or liquidity . other matters labor agreements 2013 approximately 85% ( 85 % ) of our 47201 full-time-equivalent employees are represented by 14 major rail unions . on january 1 , 2015 , current labor agreements became subject to modification and we began the current round of negotiations with the unions . existing agreements remain in effect until new agreements are reached or the railway labor act 2019s procedures ( which include mediation , cooling-off periods , and the possibility of presidential emergency boards and congressional intervention ) are exhausted . contract negotiations historically continue for an extended period of time and we rarely experience work stoppages while negotiations are pending . inflation 2013 long periods of inflation significantly increase asset replacement costs for capital-intensive companies . as a result , assuming that we replace all operating assets at current price levels , depreciation charges ( on an inflation-adjusted basis ) would be substantially greater than historically reported amounts . derivative financial instruments 2013 we may use derivative financial instruments in limited instances 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 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 , 2014 and 2013 , we were not required to provide collateral , nor had we received collateral , relating to our hedging activities. . Question: what percent of total commitments are greater than 5 years?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
1.58824
Context:overview we finance our operations and capital expenditures through a combination of internally generated cash from operations and from borrowings under our senior secured asset-based revolving credit facility . we believe that our current sources of funds will be sufficient to fund our cash operating requirements for the next year . in addition , we believe that , in spite of the uncertainty of future macroeconomic conditions , we have adequate sources of liquidity and funding available to meet our longer-term needs . however , there are a number of factors that may negatively impact our available sources of funds . the amount of cash generated from operations will be dependent upon factors such as the successful execution of our business plan and general economic conditions . long-term debt activities during the year ended december 31 , 2014 , we had significant debt refinancings . in connection with these refinancings , we recorded a loss on extinguishment of long-term debt of $ 90.7 million in our consolidated statement of operations for the year ended december 31 , 2014 . see note 7 to the accompanying audited consolidated financial statements included elsewhere in this report for additional details . share repurchase program on november 6 , 2014 , we announced that our board of directors approved a $ 500 million share repurchase program effective immediately under which we may repurchase shares of our common stock in the open market or through privately negotiated transactions , depending on share price , market conditions and other factors . the share repurchase program does not obligate us to repurchase any dollar amount or number of shares , and repurchases may be commenced or suspended from time to time without prior notice . as of the date of this filing , no shares have been repurchased under the share repurchase program . dividends a summary of 2014 dividend activity for our common stock is shown below: . |dividend amount|declaration date|record date|payment date| |$ 0.0425|february 12 2014|february 25 2014|march 10 2014| |$ 0.0425|may 8 2014|may 27 2014|june 10 2014| |$ 0.0425|july 31 2014|august 25 2014|september 10 2014| |$ 0.0675|november 6 2014|november 25 2014|december 10 2014| on february 10 , 2015 , we announced that our board of directors declared a quarterly cash dividend on our common stock of $ 0.0675 per share . the dividend will be paid on march 10 , 2015 to all stockholders of record as of the close of business on february 25 , 2015 . the payment of any future dividends will be at the discretion of our board of directors and will depend upon our results of operations , financial condition , business prospects , capital requirements , contractual restrictions , any potential indebtedness we may incur , restrictions imposed by applicable law , tax considerations and other factors that our board of directors deems relevant . in addition , our ability to pay dividends on our common stock will be limited by restrictions on our ability to pay dividends or make distributions to our stockholders and on the ability of our subsidiaries to pay dividends or make distributions to us , in each case , under the terms of our current and any future agreements governing our indebtedness . table of contents . Question: what percentage of the first quarter dividend is the fourth quarter dividend?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
0.6875
Context:entergy corporation and subsidiaries management's financial discussion and analysis annually , beginning in 2006 , if power market prices drop below the ppa prices . accordingly , because the price is not fixed , the table above does not report power from that plant as sold forward after 2005 . under the ppas with nypa for the output of power from indian point 3 and fitzpatrick , the non-utility nuclear business is obligated to produce at an average capacity factor of 85% ( 85 % ) with a financial true-up payment to nypa should nypa's cost to purchase power due to an output shortfall be higher than the ppas' price . the calculation of any true-up payments is based on two two-year periods . for the first period , which ran through november 20 , 2002 , indian point 3 and fitzpatrick operated at 95% ( 95 % ) and 97% ( 97 % ) , respectively , under the true-up formula . credits of up to 5% ( 5 % ) reflecting period one generation above 85% ( 85 % ) can be used to offset any output shortfalls in the second period , which runs through the end of the ppas on december 31 , 2004 . entergy continually monitors industry trends in order to determine whether asset impairments or other losses could result from a decline in value , or cancellation , of merchant power projects , and records provisions for impairments and losses accordingly . marketing and trading the earnings of entergy's energy commodity services segment are exposed to commodity price market risks primarily through entergy's 50%-owned , unconsolidated investment in entergy-koch . entergy-koch trading ( ekt ) uses value-at-risk models as one measure of the market risk of a loss in fair value for ekt's natural gas and power trading portfolio . actual future gains and losses in portfolios will differ from those estimated based upon actual fluctuations in market rates , operating exposures , and the timing thereof , and changes in the portfolio of derivative financial instruments during the year . to manage its portfolio , ekt enters into various derivative and contractual transactions in accordance with the policy approved by the trading committee of the governing board of entergy-koch . the trading portfolio consists of physical and financial natural gas and power as well as other energy and weather-related contracts . these contracts take many forms , including futures , forwards , swaps , and options . characteristics of ekt's value-at-risk method and the use of that method are as follows : fffd value-at-risk is used in conjunction with stress testing , position reporting , and profit and loss reporting in order to measure and control the risk inherent in the trading and mark-to-market portfolios . fffd ekt estimates its value-at-risk using a model based on j.p . morgan's risk metrics methodology combined with a monte carlo simulation approach . fffd ekt estimates its daily value-at-risk for natural gas and power using a 97.5% ( 97.5 % ) confidence level . ekt's daily value-at-risk is a measure that indicates that , if prices moved against the positions , the loss in neutralizing the portfolio would not be expected to exceed the calculated value-at-risk . fffd ekt seeks to limit the daily value-at-risk on any given day to a certain dollar amount approved by the trading committee . ekt's value-at-risk measures , which it calls daily earnings at risk ( de@r ) , for its trading portfolio were as follows: . ||2002|2001| |de@r at end of period|$ 15.2 million|$ 5.5 million| |average de@r for the period|$ 10.8 million|$ 6.4 million| ekt's de@r increased in 2002 compared to 2001 as a result of an increase in the size of the position held and an increase in the volatility of natural gas prices in the latter part of the year . for all derivative and contractual transactions , ekt is exposed to losses in the event of nonperformance by counterparties to these transactions . relevant considerations when assessing ekt's credit risk exposure include: . Question: what is the percent change in average daily earnings at risk for the period from 2001 to 2002?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
-4.4
Context:our tax returns are currently under examination in various foreign jurisdictions . the major foreign tax jurisdictions under examination include germany , italy and switzerland . it is reasonably possible that such audits will be resolved in the next twelve months , but we do not anticipate that the resolution of these audits would result in any material impact on our results of operations or financial position . 12 . capital stock and earnings per share we have 2 million shares of series a participating cumulative preferred stock authorized for issuance , none of which were outstanding as of december 31 , 2007 . the numerator for both basic and diluted earnings per share is net earnings available to common stockholders . the denominator for basic earnings per share is the weighted average number of common shares outstanding during the period . the denominator for diluted earnings per share is weighted average shares outstanding adjusted for the effect of dilutive stock options and other equity awards . the following is a reconciliation of weighted average shares for the basic and diluted share computations for the years ending december 31 ( in millions ) : . ||2007|2006|2005| |weighted average shares outstanding for basic net earnings per share|235.5|243.0|247.1| |effect of dilutive stock options and other equity awards|2.0|2.4|2.7| |weighted average shares outstanding for diluted net earnings per share|237.5|245.4|249.8| weighted average shares outstanding for basic net earnings per share 235.5 243.0 247.1 effect of dilutive stock options and other equity awards 2.0 2.4 2.7 weighted average shares outstanding for diluted net earnings per share 237.5 245.4 249.8 for the year ended december 31 , 2007 , an average of 3.1 million options to purchase shares of common stock were not included in the computation of diluted earnings per share as the exercise prices of these options were greater than the average market price of the common stock . for the years ended december 31 , 2006 and 2005 , an average of 7.6 million and 2.9 million options , respectively , were not included . in december 2005 , our board of directors authorized a stock repurchase program of up to $ 1 billion through december 31 , 2007 . in december 2006 , our board of directors authorized an additional stock repurchase program of up to $ 1 billion through december 31 , 2008 . as of december 31 , 2007 we had acquired approximately 19345200 shares at a cost of $ 1378.9 million , before commissions . 13 . segment data we design , develop , manufacture and market reconstructive orthopaedic implants , including joint and dental , spinal implants , trauma products and related orthopaedic surgical products which include surgical supplies and instruments designed to aid in orthopaedic surgical procedures and post-operation rehabilitation . we also provide other healthcare related services . revenue related to these services currently represents less than 1 percent of our total net sales . we manage operations through three major geographic segments 2013 the americas , which is comprised principally of the united states and includes other north , central and south american markets ; europe , which is comprised principally of europe and includes the middle east and africa ; and asia pacific , which is comprised primarily of japan and includes other asian and pacific markets . this structure is the basis for our reportable segment information discussed below . management evaluates operating segment performance based upon segment operating profit exclusive of operating expenses pertaining to global operations and corporate expenses , share-based compensation expense , settlement , acquisition , integration and other expenses , inventory step-up , in-process research and development write- offs and intangible asset amortization expense . global operations include research , development engineering , medical education , brand management , corporate legal , finance , and human resource functions , and u.s . and puerto rico based manufacturing operations and logistics . intercompany transactions have been eliminated from segment operating profit . management reviews accounts receivable , inventory , property , plant and equipment , goodwill and intangible assets by reportable segment exclusive of u.s and puerto rico based manufacturing operations and logistics and corporate assets . z i m m e r h o l d i n g s , i n c . 2 0 0 7 f o r m 1 0 - k a n n u a l r e p o r t notes to consolidated financial statements ( continued ) . Question: what is the change in weighted average shares outstanding for diluted net earnings per share between 2005 and 2006 , in millions?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
0.01
Context:visa inc . notes to consolidated financial statements 2014 ( continued ) september 30 , 2008 ( in millions , except as noted ) the company redeemed all outstanding shares of class c ( series ii ) common stock in october 2008 at its redemption price of $ 1.136 billion , which represents its stated redemption price of $ 1.146 billion reduced by the dividend declared in june 2008 and paid on these shares in august 2008 and the extinguishment of the subscription receivable . fair value and accretion of class c ( series ii ) common stock at the time of the reorganization in october 2007 , the company determined the fair value of the class c ( series ii ) common stock to be approximately $ 1.104 billion . prior to the ipo these shares were not redeemable . completion of the company 2019s ipo triggered the redemption feature of this stock . as a result , in accordance with emerging issues task force ( 201ceitf 201d ) topic d-98 , 201cclassification and measurement of redeemable securities , 201d in march 2008 , the company reclassified all outstanding shares of the class c ( series ii ) common stock at its then fair value of $ 1.125 billion to temporary or mezzanine level equity on the company 2019s consolidated balance sheet with a corresponding reduction in additional paid-in-capital of $ 1.104 billion and accumulated income of $ 21 million . over the period from march 2008 to october 10 , 2008 , the date these shares were redeemed , the company recorded accretion of this stock to its redemption price through accumulated income . the following table reflects activity related to the class c ( series ii ) common stock from october 1 , 2007 to september 30 , 2008 : fiscal 2008 ( in millions ) . ||fiscal 2008 ( in millions )| |balance at october 1 recorded in stockholders 2019 equity|$ 1104| |re-measure of fair value at ipo date|21| |accretion recorded from ipo date to september 30 2008 ( 1 )|19| |dividend declared ( 2 )|-8 ( 8 )| |balance at september 30 in temporary equity|$ 1136| ( 1 ) over the period from march 2008 to september 30 , 2008 , the company recorded accretion of this stock to its redemption price through accumulated income . ( 2 ) in june 2008 , the company declared a dividend of $ 0.105 per share . the dividend paid to the class c ( series ii ) common stock is treated as a reduction in temporary equity as it reduces the redemption value of the class c ( series ii ) common stock . see note 16 2014stockholders 2019 equity and redeemable shares for further information regarding the dividend declaration . october 2008 redemptions of class c ( series ii ) and class c ( series iii ) common stock as noted above , on october 10 , 2008 , the company redeemed all of the outstanding shares of class c ( series ii ) common stock at its redemption price of $ 1.146 billion less dividends paid , or $ 1.136 billion . pursuant to the company 2019s fourth amended and restated certificate of incorporation , 35263585 shares of class c ( series iii ) common stock were required to be redeemed in october 2008 and therefore were classified as a current liability at september 30 , 2008 on the company 2019s consolidated balance sheet . on october 10 , 2008 , the company used $ 1.508 billion of net proceeds from the ipo for the required redemption of 35263585 shares of class c ( series iii ) common stock at a redemption . Question: what amount of dividend was was paid to class c series ii and series iii common stock holders , ( in billions ) ?\\n
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
0.49239
Context:table of contents worldwide distribution channels the following table presents the number of doors by geographic location , in which ralph lauren-branded products distributed by our wholesale segment were sold to consumers in our primary channels of distribution as of april 3 , 2010 : number of location doors ( a ) . |location|number of doors ( a )| |united states and canada|4402| |europe|4421| |japan|117| |total|8940| ( a ) in asia-pacific , our products are primarily distributed through concessions-based sales arrangements . in addition , american living and chaps-branded products distributed by our wholesale segment were sold domestically through approximately 1700 doors as of april 3 , 2010 . we have five key department-store customers that generate significant sales volume . for fiscal 2010 , these customers in the aggregate accounted for approximately 45% ( 45 % ) of all wholesale revenues , with macy 2019s , inc . representing approximately 18% ( 18 % ) of these revenues . our product brands are sold primarily through their own sales forces . our wholesale segment maintains its primary showrooms in new york city . in addition , we maintain regional showrooms in atlanta , chicago , dallas , milan , paris , london , munich , madrid and stockholm . shop-within-shops . as a critical element of our distribution to department stores , we and our licensing partners utilize shop- within-shops to enhance brand recognition , to permit more complete merchandising of our lines by the department stores and to differentiate the presentation of products . shop-within-shops fixed assets primarily include items such as customized freestanding fixtures , wall cases and components , decorative items and flooring . as of april 3 , 2010 , we had approximately 14000 shop-within-shops dedicated to our ralph lauren-branded wholesale products worldwide . excluding significantly larger shop-within-shops in key department store locations , the size of our shop-within-shops typically ranges from approximately 300 to 6000 square feet . we normally share in the cost of these shop-within-shops with our wholesale customers . basic stock replenishment program . basic products such as knit shirts , chino pants and oxford cloth shirts can be ordered at any time through our basic stock replenishment programs . we generally ship these products within three-to-five days of order receipt . our retail segment as of april 3 , 2010 , our retail segment consisted of 179 full-price retail stores and 171 factory stores worldwide , totaling approximately 2.6 million square feet , 281 concessions-based shop-within-shops and two e-commerce websites . the extension of our direct-to-consumer reach is a primary long-term strategic goal . full-price retail stores our full-price retail stores reinforce the luxury image and distinct sensibility of our brands and feature exclusive lines that are not sold in domestic department stores . we opened 3 new full-price stores and closed 3 full-price stores in fiscal 2010 . in addition , we assumed 16 full-price stores in connection with the asia-pacific . Question: what percentage of doors in the wholesale segment as of april 3 , 2010 where in the united states and canada geography?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
0.25838
Context:credit facilities . as such , our foreign cash and cash equivalents are not expected to be a key source of liquidity to our domestic operations . at september 30 , 2019 , we had approximately $ 2.9 billion of availability under our committed credit facilities , primarily under our revolving credit facility , the majority of which matures on july 1 , 2022 . this liquidity may be used to provide for ongoing working capital needs and for other general corporate purposes , including acquisitions , dividends and stock repurchases . certain restrictive covenants govern our maximum availability under the credit facilities . we test and report our compliance with these covenants as required and we were in compliance with all of these covenants at september 30 , 2019 . at september 30 , 2019 , we had $ 129.8 million of outstanding letters of credit not drawn cash and cash equivalents were $ 151.6 million at september 30 , 2019 and $ 636.8 million at september 30 , 2018 . we used a significant portion of the cash and cash equivalents on hand at september 30 , 2018 in connection with the closing of the kapstone acquisition . primarily all of the cash and cash equivalents at september 30 , 2019 were held outside of the u.s . at september 30 , 2019 , total debt was $ 10063.4 million , $ 561.1 million of which was current . at september 30 , 2018 , total debt was $ 6415.2 million , $ 740.7 million of which was current . the increase in debt was primarily related to the kapstone acquisition . cash flow activity . |( in millions )|year ended september 30 , 2019|year ended september 30 , 2018| |net cash provided by operating activities|$ 2310.2|$ 1931.2| |net cash used for investing activities|$ -4579.6 ( 4579.6 )|$ -815.1 ( 815.1 )| |net cash provided by ( used for ) financing activities|$ 1780.2|$ -755.1 ( 755.1 )| net cash provided by operating activities during fiscal 2019 increased $ 379.0 million from fiscal 2018 primarily due to higher cash earnings and a $ 340.3 million net decrease in the use of working capital compared to the prior year . as a result of the retrospective adoption of asu 2016-15 and asu 2016-18 ( each as hereinafter defined ) as discussed in 201cnote 1 . description of business and summary of significant accounting policies 201d of the notes to consolidated financial statements , net cash provided by operating activities for fiscal 2018 was reduced by $ 489.7 million and cash provided by investing activities increased $ 483.8 million , primarily for the change in classification of proceeds received for beneficial interests obtained for transferring trade receivables in securitization transactions . net cash used for investing activities of $ 4579.6 million in fiscal 2019 consisted primarily of $ 3374.2 million for cash paid for the purchase of businesses , net of cash acquired ( excluding the assumption of debt ) , primarily related to the kapstone acquisition , and $ 1369.1 million for capital expenditures that were partially offset by $ 119.1 million of proceeds from the sale of property , plant and equipment primarily related to the sale of our atlanta beverage facility , $ 33.2 million of proceeds from corporate owned life insurance benefits and $ 25.5 million of proceeds from property , plant and equipment insurance proceeds related to the panama city , fl mill . net cash used for investing activities of $ 815.1 million in fiscal 2018 consisted primarily of $ 999.9 million for capital expenditures , $ 239.9 million for cash paid for the purchase of businesses , net of cash acquired primarily related to the plymouth acquisition and the schl fcter acquisition , and $ 108.0 million for an investment in grupo gondi . these investments were partially offset by $ 461.6 million of cash receipts on sold trade receivables as a result of the adoption of asu 2016-15 , $ 24.0 million of proceeds from the sale of certain affiliates as well as our solid waste management brokerage services business and $ 23.3 million of proceeds from the sale of property , plant and equipment . in fiscal 2019 , net cash provided by financing activities of $ 1780.2 million consisted primarily of a net increase in debt of $ 2314.6 million , primarily related to the kapstone acquisition and partially offset by cash dividends paid to stockholders of $ 467.9 million and purchases of common stock of $ 88.6 million . in fiscal 2018 , net cash used for financing activities of $ 755.1 million consisted primarily of cash dividends paid to stockholders of $ 440.9 million and purchases of common stock of $ 195.1 million and net repayments of debt of $ 120.1 million. . Question: in 2018 what was the percent of the net cash used for financing activities used for the purchase of purchases of common stock
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
0.32623
Context:utilized . in accordance with sfas no . 144 , accounting for the impairment or disposal of long-lived assets , a non-cash impairment charge of $ 4.1 million was recorded in the second quarter of fiscal 2008 for the excess machinery . this charge is included as a separate line item in the company 2019s consolidated statement of operations . there was no change to useful lives and related depreciation expense of the remaining assets as the company believes these estimates are currently reflective of the period the assets will be used in operations . 7 . warranties the company generally provides a one-year warranty on sequencing , genotyping and gene expression systems . at the time revenue is recognized , the company establishes an accrual for estimated warranty expenses associated with system sales . this expense is recorded as a component of cost of product revenue . estimated warranty expenses associated with extended maintenance contracts are recorded as cost of revenue ratably over the term of the maintenance contract . changes in the company 2019s reserve for product warranties from january 1 , 2006 through december 28 , 2008 are as follows ( in thousands ) : . |balance as of january 1 2006|$ 751| |additions charged to cost of revenue|1379| |repairs and replacements|-1134 ( 1134 )| |balance as of december 31 2006|996| |additions charged to cost of revenue|4939| |repairs and replacements|-2219 ( 2219 )| |balance as of december 30 2007|3716| |additions charged to cost of revenue|13044| |repairs and replacements|-8557 ( 8557 )| |balance as of december 28 2008|$ 8203| 8 . convertible senior notes on february 16 , 2007 , the company issued $ 400.0 million principal amount of 0.625% ( 0.625 % ) convertible senior notes due 2014 ( the notes ) , which included the exercise of the initial purchasers 2019 option to purchase up to an additional $ 50.0 million aggregate principal amount of notes . the net proceeds from the offering , after deducting the initial purchasers 2019 discount and offering expenses , were $ 390.3 million . the company will pay 0.625% ( 0.625 % ) interest per annum on the principal amount of the notes , payable semi-annually in arrears in cash on february 15 and august 15 of each year . the company made interest payments of $ 1.3 million and $ 1.2 million on february 15 , 2008 and august 15 , 2008 , respectively . the notes mature on february 15 , the notes will be convertible into cash and , if applicable , shares of the company 2019s common stock , $ 0.01 par value per share , based on a conversion rate , subject to adjustment , of 45.8058 shares per $ 1000 principal amount of notes ( which represents a conversion price of $ 21.83 per share ) , only in the following circumstances and to the following extent : ( 1 ) during the five business-day period after any five consecutive trading period ( the measurement period ) in which the trading price per note for each day of such measurement period was less than 97% ( 97 % ) of the product of the last reported sale price of the company 2019s common stock and the conversion rate on each such day ; ( 2 ) during any calendar quarter after the calendar quarter ending march 30 , 2007 , if the last reported sale price of the company 2019s common stock for 20 or more trading days in a period of 30 consecutive trading days ending on the last trading day of the immediately illumina , inc . notes to consolidated financial statements 2014 ( continued ) . Question: what was the percent of the change in the company 2019s reserve for product warranties in , 2006
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
0.14286
Context:table of contents ( 4 ) the decline in cash flows was driven by the timing of inventory purchases at the end of 2014 versus 2013 . in order to manage our working capital and operating cash needs , we monitor our cash conversion cycle , defined as days of sales outstanding in accounts receivable plus days of supply in inventory minus days of purchases outstanding in accounts payable , based on a rolling three-month average . components of our cash conversion cycle are as follows: . |( in days )|december 31 , 2015|december 31 , 2014|december 31 , 2013| |days of sales outstanding ( dso ) ( 1 )|48|42|44| |days of supply in inventory ( dio ) ( 2 )|13|13|14| |days of purchases outstanding ( dpo ) ( 3 )|-40 ( 40 )|-34 ( 34 )|-35 ( 35 )| |cash conversion cycle|21|21|23| ( 1 ) represents the rolling three-month average of the balance of trade accounts receivable , net at the end of the period divided by average daily net sales for the same three-month period . also incorporates components of other miscellaneous receivables . ( 2 ) represents the rolling three-month average of the balance of merchandise inventory at the end of the period divided by average daily cost of goods sold for the same three-month period . ( 3 ) represents the rolling three-month average of the combined balance of accounts payable-trade , excluding cash overdrafts , and accounts payable-inventory financing at the end of the period divided by average daily cost of goods sold for the same three-month period . the cash conversion cycle remained at 21 days at december 31 , 2015 and december 31 , 2014 . the increase in dso was primarily driven by a higher accounts receivable balance at december 31 , 2015 driven by higher public segment sales where customers generally take longer to pay than customers in our corporate segment , slower government payments in certain states due to budget issues and an increase in net sales and related accounts receivable for third-party services such as software assurance and warranties . these services have an unfavorable impact on dso as the receivable is recognized on the balance sheet on a gross basis while the corresponding sales amount in the statement of operations is recorded on a net basis . these services have a favorable impact on dpo as the payable is recognized on the balance sheet without a corresponding cost of sale in the statement of operations because the cost paid to the vendor or third-party service provider is recorded as a reduction to net sales . in addition to the impact of these services on dpo , dpo also increased due to the mix of payables with certain vendors that have longer payment terms . the cash conversion cycle decreased to 21 days at december 31 , 2014 compared to 23 days at december 31 , 2013 , primarily driven by improvement in dso . the decline in dso was primarily driven by improved collections and early payments from certain customers . additionally , the timing of inventory receipts at the end of 2014 had a favorable impact on dio and an unfavorable impact on dpo . investing activities net cash used in investing activities increased $ 189.6 million in 2015 compared to 2014 . the increase was primarily due to the completion of the acquisition of kelway by purchasing the remaining 65% ( 65 % ) of its outstanding common stock on august 1 , 2015 . additionally , capital expenditures increased $ 35.1 million to $ 90.1 million from $ 55.0 million for 2015 and 2014 , respectively , primarily for our new office location and an increase in spending related to improvements to our information technology systems . net cash used in investing activities increased $ 117.7 million in 2014 compared to 2013 . we paid $ 86.8 million in the fourth quarter of 2014 to acquire a 35% ( 35 % ) non-controlling interest in kelway . additionally , capital expenditures increased $ 7.9 million to $ 55.0 million from $ 47.1 million in 2014 and 2013 , respectively , primarily for improvements to our information technology systems during both years . financing activities net cash used in financing activities increased $ 114.5 million in 2015 compared to 2014 . the increase was primarily driven by share repurchases during the year ended december 31 , 2015 which resulted in an increase in cash used for financing activities of $ 241.3 million . for more information on our share repurchase program , see item 5 , 201cmarket for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities . 201d the increase was partially offset by the changes in accounts payable-inventory financing , which resulted in an increase in cash provided for financing activities of $ 20.4 million , and the net impact of our debt transactions which resulted in cash outflows of $ 7.1 million and $ 145.9 million during the years . Question: what was the percent of the change in days of sales outstanding from 2014 to 2015
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
-0.09542
Context:the following table summarizes the changes in the company 2019s valuation allowance: . |balance at january 1 2010|$ 25621| |increases in current period tax positions|907| |decreases in current period tax positions|-2740 ( 2740 )| |balance at december 31 2010|$ 23788| |increases in current period tax positions|1525| |decreases in current period tax positions|-3734 ( 3734 )| |balance at december 31 2011|$ 21579| |increases in current period tax positions|0| |decreases in current period tax positions|-2059 ( 2059 )| |balance at december 31 2012|$ 19520| note 14 : employee benefits pension and other postretirement benefits the company maintains noncontributory defined benefit pension plans covering eligible employees of its regulated utility and shared services operations . benefits under the plans are based on the employee 2019s years of service and compensation . the pension plans have been closed for most employees hired on or after january 1 , 2006 . union employees hired on or after january 1 , 2001 had their accrued benefit frozen and will be able to receive this benefit as a lump sum upon termination or retirement . union employees hired on or after january 1 , 2001 and non-union employees hired on or after january 1 , 2006 are provided with a 5.25% ( 5.25 % ) of base pay defined contribution plan . the company does not participate in a multiemployer plan . the company 2019s funding policy is to contribute at least the greater of the minimum amount required by the employee retirement income security act of 1974 or the normal cost , and an additional contribution if needed to avoid 201cat risk 201d status and benefit restrictions under the pension protection act of 2006 . the company may also increase its contributions , if appropriate , to its tax and cash position and the plan 2019s funded position . pension plan assets are invested in a number of actively managed and indexed investments including equity and bond mutual funds , fixed income securities and guaranteed interest contracts with insurance companies . pension expense in excess of the amount contributed to the pension plans is deferred by certain regulated subsidiaries pending future recovery in rates charged for utility services as contributions are made to the plans . ( see note 6 ) the company also has several unfunded noncontributory supplemental non-qualified pension plans that provide additional retirement benefits to certain employees . the company maintains other postretirement benefit plans providing varying levels of medical and life insurance to eligible retirees . the retiree welfare plans are closed for union employees hired on or after january 1 , 2006 . the plans had previously closed for non-union employees hired on or after january 1 , 2002 . the company 2019s policy is to fund other postretirement benefit costs for rate-making purposes . plan assets are invested in equity and bond mutual funds , fixed income securities , real estate investment trusts ( 201creits 201d ) and emerging market funds . the obligations of the plans are dominated by obligations for active employees . because the timing of expected benefit payments is so far in the future and the size of the plan assets are small relative to the company 2019s assets , the investment strategy is to allocate a significant percentage of assets to equities , which the company believes will provide the highest return over the long-term period . the fixed income assets are invested in long duration debt securities and may be invested in fixed income instruments , such as futures and options in order to better match the duration of the plan liability. . Question: how much did the company 2019s valuation allowance decrease from 2011 to 2012?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
1.1
Context:comparison of cumulative return among lkq corporation , the nasdaq stock market ( u.s. ) index and the peer group . ||12/31/2007|12/31/2008|12/31/2009|12/31/2010|12/31/2011|12/31/2012| |lkq corporation|$ 100|$ 55|$ 93|$ 108|$ 143|$ 201| |nasdaq stock market ( u.s. ) index|$ 100|$ 59|$ 86|$ 100|$ 98|$ 114| |peer group|$ 100|$ 83|$ 100|$ 139|$ 187|$ 210| 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 , 2012 included in part iii , item 12 of this annual report on form 10-k is incorporated herein by reference. . Question: what was the difference in percentage of cumulative return for lkq corporation and the peer group for the five years ended 12/31/2012?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
90.5
Context:the goldman sachs group , inc . and subsidiaries notes to consolidated financial statements in connection with the firm 2019s prime brokerage and clearing businesses , the firm agrees to clear and settle on behalf of its clients the transactions entered into by them with other brokerage firms . the firm 2019s obligations in respect of such transactions are secured by the assets in the client 2019s account as well as any proceeds received from the transactions cleared and settled by the firm on behalf of the client . in connection with joint venture investments , the firm may issue loan guarantees under which it may be liable in the event of fraud , misappropriation , environmental liabilities and certain other matters involving the borrower . the firm is unable to develop an estimate of the maximum payout under these guarantees and indemnifications . however , management believes that it is unlikely the firm will have to make any material payments under these arrangements , and no material liabilities related to these guarantees and indemnifications have been recognized in the consolidated statements of financial condition as of december 2016 and december 2015 . other representations , warranties and indemnifications . the firm provides representations and warranties to counterparties in connection with a variety of commercial transactions and occasionally indemnifies them against potential losses caused by the breach of those representations and warranties . the firm may also provide indemnifications protecting against changes in or adverse application of certain u.s . tax laws in connection with ordinary-course transactions such as securities issuances , borrowings or derivatives . in addition , the firm may provide indemnifications to some counterparties to protect them in the event additional taxes are owed or payments are withheld , due either to a change in or an adverse application of certain non-u.s . tax laws . these indemnifications generally are standard contractual terms and are entered into in the ordinary course of business . generally , there are no stated or notional amounts included in these indemnifications , and the contingencies triggering the obligation to indemnify are not expected to occur . the firm is unable to develop an estimate of the maximum payout under these guarantees and indemnifications . however , management believes that it is unlikely the firm will have to make any material payments under these arrangements , and no material liabilities related to these arrangements have been recognized in the consolidated statements of financial condition as of december 2016 and december 2015 . guarantees of subsidiaries . group inc . fully and unconditionally guarantees the securities issued by gs finance corp. , a wholly-owned finance subsidiary of the group inc . has guaranteed the payment obligations of goldman , sachs & co . ( gs&co. ) and gs bank usa , subject to certain exceptions . in addition , group inc . guarantees many of the obligations of its other consolidated subsidiaries on a transaction-by- transaction basis , as negotiated with counterparties . group inc . is unable to develop an estimate of the maximum payout under its subsidiary guarantees ; however , because these guaranteed obligations are also obligations of consolidated subsidiaries , group inc . 2019s liabilities as guarantor are not separately disclosed . note 19 . shareholders 2019 equity common equity dividends declared per common share were $ 2.60 in 2016 , $ 2.55 in 2015 and $ 2.25 in 2014 . on january 17 , 2017 , group inc . declared a dividend of $ 0.65 per common share to be paid on march 30 , 2017 to common shareholders of record on march 2 , 2017 . the firm 2019s share repurchase program is intended to help maintain the appropriate level of common equity . the share repurchase program is effected primarily through regular open-market purchases ( which may include repurchase plans designed to comply with rule 10b5-1 ) , the amounts and timing of which are determined primarily by the firm 2019s current and projected capital position , but which may also be influenced by general market conditions and the prevailing price and trading volumes of the firm 2019s common stock . prior to repurchasing common stock , the firm must receive confirmation that the federal reserve board does not object to such capital actions . the table below presents the amount of common stock repurchased by the firm under the share repurchase program. . |in millions except per share amounts|year ended december 2016|year ended december 2015|year ended december 2014| |common share repurchases|36.6|22.1|31.8| |average cost per share|$ 165.88|$ 189.41|$ 171.79| |total cost of common share repurchases|$ 6069|$ 4195|$ 5469| 172 goldman sachs 2016 form 10-k . Question: in millions , for 2016 , 2015 , and 2014 what was the total amount of common share repurchases?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
50.0
Context:the contractual maturities of held-to-maturity securities as of january 30 , 2009 were in excess of three years and were $ 31.4 million at cost and $ 28.9 million at fair value , respectively . for the successor year ended january 30 , 2009 and period ended february 1 , 2008 , and the predecessor period ended july 6 , 2007 and year ended february 2 , 2007 , gross realized gains and losses on the sales of available-for-sale securities were not material . the cost of securities sold is based upon the specific identification method . merchandise inventories inventories are stated at the lower of cost or market with cost determined using the retail last-in , first-out ( 201clifo 201d ) method . under the company 2019s retail inventory method ( 201crim 201d ) , the calculation of gross profit and the resulting valuation of inventories at cost are computed by applying a calculated cost-to-retail inventory ratio to the retail value of sales at a department level . costs directly associated with warehousing and distribution are capitalized into inventory . the excess of current cost over lifo cost was approximately $ 50.0 million at january 30 , 2009 and $ 6.1 million at february 1 , 2008 . current cost is determined using the retail first-in , first-out method . the company 2019s lifo reserves were adjusted to zero at july 6 , 2007 as a result of the merger . the successor recorded lifo provisions of $ 43.9 million and $ 6.1 million during 2008 and 2007 , respectively . the predecessor recorded a lifo credit of $ 1.5 million in 2006 . in 2008 , the increased commodity cost pressures mainly related to food and pet products which have been driven by fruit and vegetable prices and rising freight costs . increases in petroleum , resin , metals , pulp and other raw material commodity driven costs also resulted in multiple product cost increases . the company intends to address these commodity cost increases through negotiations with its vendors and by increasing retail prices as necessary . on a quarterly basis , the company estimates the annual impact of commodity cost fluctuations based upon the best available information at that point in time . store pre-opening costs pre-opening costs related to new store openings and the construction periods are expensed as incurred . property and equipment property and equipment are recorded at cost . the company provides for depreciation and amortization on a straight-line basis over the following estimated useful lives: . |land improvements|20| |buildings|39-40| |furniture fixtures and equipment|3-10| improvements of leased properties are amortized over the shorter of the life of the applicable lease term or the estimated useful life of the asset. . Question: what was the total lifo provisions recorded by the successor from 2007 to 2008 in millions
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
-0.16577
Context:investing activities for the year ended 30 september 2016 , cash used for investing activities was $ 972.0 , driven by capital expenditures for plant and equipment of $ 1055.8 . proceeds from the sale of assets and investments of $ 85.5 was primarily driven by the receipt of $ 30.0 for our rights to a corporate aircraft that was under construction , $ 15.9 for the sale of our 20% ( 20 % ) equity investment in daido air products electronics , inc. , and $ 14.9 for the sale of a wholly owned subsidiary located in wuhu , china . for the year ended 30 september 2015 , cash used for investing activities was $ 1250.5 , primarily capital expenditures for plant and equipment . on 30 december 2014 , we acquired our partner 2019s equity ownership interest in a liquefied atmospheric industrial gases production joint venture in north america which increased our ownership from 50% ( 50 % ) to 100% ( 100 % ) . refer to note 6 , business combination , to the consolidated financial statements for additional information . for the year ended 30 september 2014 , cash used for investing activities was $ 1316.5 , primarily capital expenditures for plant and equipment . refer to the capital expenditures section below for additional detail . capital expenditures capital expenditures are detailed in the following table: . ||2016|2015|2014| |additions to plant and equipment|$ 1055.8|$ 1265.6|$ 1362.7| |acquisitions less cash acquired|2014|34.5|2014| |investments in and advances to unconsolidated affiliates|2014|4.3|-2.0 ( 2.0 )| |capital expenditures on a gaap basis|$ 1055.8|$ 1304.4|$ 1360.7| |capital lease expenditures ( a )|27.2|95.6|202.4| |purchase of noncontrolling interests in a subsidiary ( a )|2014|278.4|.5| |capital expenditures on a non-gaap basis|$ 1083.0|$ 1678.4|$ 1563.6| ( 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 purchase of subsidiary shares from noncontrolling interests is accounted for 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 2016 totaled $ 1055.8 , compared to $ 1265.6 in 2015 . the decrease of $ 209.8 was primarily due to the completion of major projects in 2016 and 2015 . additions to plant and equipment also included support capital of a routine , ongoing nature , including expenditures for distribution equipment and facility improvements . spending in 2016 and 2015 included plant and equipment constructed to provide oxygen for coal gasification in china , hydrogen to the global market , oxygen to the steel industry , nitrogen to the electronic semiconductor industry , and capacity expansion for the materials technologies segment . capital expenditures on a non-gaap basis in 2016 totaled $ 1083.0 compared to $ 1678.4 in 2015 . the decrease of $ 595.4 was primarily due to the prior year purchase of the 30.5% ( 30.5 % ) equity interest in our indura s.a . subsidiary from the largest minority shareholder for $ 277.9 . refer to note 21 , noncontrolling interests , to the consolidated financial statements for additional details . additionally , capital lease expenditures of $ 27.2 , decreased by $ 68.4 , reflecting lower project spending . on 19 april 2015 , a joint venture between air products and acwa holding entered into a 20-year oxygen and nitrogen supply agreement to supply saudi aramco 2019s oil refinery and power plant being built in jazan , saudi arabia . air products owns 25% ( 25 % ) of the joint venture . during 2016 and 2015 , we recorded noncash transactions which resulted in an increase of $ 26.9 and $ 67.5 , respectively , to our investment in net assets of and advances to equity affiliates for our obligation to invest in the joint venture . these noncash transactions have been excluded from the consolidated statements of cash flows . in total , we expect to invest approximately $ 100 in this joint venture . air products has also entered into a sale of equipment contract with the joint venture to engineer , procure , and construct the industrial gas facilities that will supply the gases to saudi aramco. . Question: considering the capital expenditures on a gaap basis , what was the percentual decrease observed in 2016 in comparison with 2015?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
23.0
Context:14 . stock compensation plans the following table summarizes stock-based compensation expense recognized in continuing operations in the consolidated statements of income in compensation and benefits ( in millions ) : . |years ended december 31|2009|2008|2007| |rsus|$ 124|$ 132|$ 109| |performance plans|60|67|54| |stock options|21|24|22| |employee stock purchase plans|4|3|3| |total stock-based compensation expense|209|226|188| |tax benefit|68|82|64| |stock-based compensation expense net of tax|$ 141|$ 144|$ 124| during 2009 , the company converted its stock administration system to a new service provider . in connection with this conversion , a reconciliation of the methodologies and estimates utilized was performed , which resulted in a $ 12 million reduction of expense for the year ended december 31 , 2009 . stock awards stock awards , in the form of rsus , are granted to certain employees and consist of both performance-based and service-based rsus . service-based awards generally vest between three and ten years from the date of grant . the fair value of service-based awards is based upon the market price of the underlying common stock at the date of grant . with certain limited exceptions , any break in continuous employment will cause the forfeiture of all unvested awards . compensation expense associated with stock awards is recognized over the service period using the straight-line method . dividend equivalents are paid on certain service-based rsus , based on the initial grant amount . at december 31 , 2009 , 2008 and 2007 , the number of shares available for stock awards is included with options available for grant . performance-based rsus have been granted to certain employees . vesting of these awards is contingent upon meeting various individual , divisional or company-wide performance conditions , including revenue generation or growth in revenue , pretax income or earnings per share over a one- to five-year period . the performance conditions are not considered in the determination of the grant date fair value for these awards . the fair value of performance-based awards is based upon the market price of the underlying common stock at the date of grant . compensation expense is recognized over the performance period , and in certain cases an additional vesting period , based on management 2019s estimate of the number of units expected to vest . compensation expense is adjusted to reflect the actual number of shares paid out at the end of the programs . the payout of shares under these performance-based plans may range from 0-200% ( 0-200 % ) of the number of units granted , based on the plan . dividend equivalents are generally not paid on the performance-based rsus . during 2009 , the company granted approximately 2 million shares in connection with the completion of the 2006 leadership performance plan ( 2018 2018lpp 2019 2019 ) cycle . during 2009 , 2008 and 2007 , the company granted approximately 3.7 million , 4.2 million and 4.3 million restricted shares , respectively , in connection with the company 2019s incentive compensation plans. . Question: what was the change in the stock compensation plans rsu in millions from 2007 to 2008
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
0.36833
Context:mastercard incorporated notes to consolidated financial statements 2014 ( continued ) ( in thousands , except percent and per share data ) upon termination of employment , excluding retirement , all of a participant 2019s unvested awards are forfeited . however , when a participant terminates employment due to retirement , the participant generally retains all of their awards without providing additional service to the company . eligible retirement is dependent upon age and years of service , as follows : age 55 with ten years of service , age 60 with five years of service and age 65 with two years of service . compensation expense is recognized over the shorter of the vesting periods stated in the ltip , or the date the individual becomes eligible to retire . there are 11550 shares of class a common stock reserved for equity awards under the ltip . although the ltip permits the issuance of shares of class b common stock , no such shares have been reserved for issuance . shares issued as a result of option exercises and the conversions of rsus are expected to be funded with the issuance of new shares of class a common stock . stock options the fair value of each option is estimated on the date of grant using a black-scholes option pricing model . the following table presents the weighted-average assumptions used in the valuation and the resulting weighted- average fair value per option granted for the years ended december 31: . ||2009|2008|2007| |risk-free rate of return|2.5% ( 2.5 % )|3.2% ( 3.2 % )|4.4% ( 4.4 % )| |expected term ( in years )|6.17|6.25|6.25| |expected volatility|41.7% ( 41.7 % )|37.9% ( 37.9 % )|30.9% ( 30.9 % )| |expected dividend yield|0.4% ( 0.4 % )|0.3% ( 0.3 % )|0.6% ( 0.6 % )| |weighted-average fair value per option granted|$ 71.03|$ 78.54|$ 41.03| the risk-free rate of return was based on the u.s . treasury yield curve in effect on the date of grant . the company utilizes the simplified method for calculating the expected term of the option based on the vesting terms and the contractual life of the option . the expected volatility for options granted during 2009 was based on the average of the implied volatility of mastercard and a blend of the historical volatility of mastercard and the historical volatility of a group of companies that management believes is generally comparable to mastercard . the expected volatility for options granted during 2008 was based on the average of the implied volatility of mastercard and the historical volatility of a group of companies that management believes is generally comparable to mastercard . as the company did not have sufficient publicly traded stock data historically , the expected volatility for options granted during 2007 was primarily based on the average of the historical and implied volatility of a group of companies that management believed was generally comparable to mastercard . the expected dividend yields were based on the company 2019s expected annual dividend rate on the date of grant. . Question: what is the average expected volatility for the years 2007-2009?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
0.41181
Context:holders of grupo gondi manage the joint venture and we provide technical and commercial resources . we believe the joint venture is helping us to grow our presence in the attractive mexican market . we have included the financial results of the joint venture in our corrugated packaging segment since the date of formation . we are accounting for the investment on the equity method . on january 19 , 2016 , we completed the packaging acquisition . the entities acquired provide value-added folding carton and litho-laminated display packaging solutions . we believe the transaction has provided us with attractive and complementary customers , markets and facilities . we have included the financial results of the acquired entities in our consumer packaging segment since the date of the acquisition . on october 1 , 2015 , we completed the sp fiber acquisition . the transaction included the acquisition of mills located in dublin , ga and newberg , or , which produce lightweight recycled containerboard and kraft and bag paper . the newberg mill also produced newsprint . as part of the transaction , we also acquired sp fiber's 48% ( 48 % ) interest in green power solutions of georgia , llc ( fffdgps fffd ) , which we consolidate . gps is a joint venture providing steam to the dublin mill and electricity to georgia power . subsequent to the transaction , we announced the permanent closure of the newberg mill due to the decline in market conditions of the newsprint business and our need to balance supply and demand in our containerboard system . we have included the financial results of the acquired entities in our corrugated packaging segment since the date of the acquisition . see fffdnote 2 . mergers , acquisitions and investment fffdtt of the notes to consolidated financial statements for additional information . see also item 1a . fffdrisk factors fffd fffdwe may be unsuccessful in making and integrating mergers , acquisitions and investments and completing divestitures fffd . business . |( in millions )|year ended september 30 , 2018|year ended september 30 , 2017|year ended september 30 , 2016| |net sales|$ 16285.1|$ 14859.7|$ 14171.8| |segment income|$ 1685.0|$ 1193.5|$ 1226.2| in fiscal 2018 , we continued to pursue our strategy of offering differentiated paper and packaging solutions that help our customers win . we successfully executed this strategy in fiscal 2018 in a rapidly changing cost and price environment . net sales of $ 16285.1 million for fiscal 2018 increased $ 1425.4 million , or 9.6% ( 9.6 % ) , compared to fiscal 2017 . the increase was primarily a result of an increase in corrugated packaging segment sales , driven by higher selling price/mix and the contributions from acquisitions , and increased consumer packaging segment sales , primarily due to the contribution from acquisitions ( primarily the mps acquisition ) . these increases were partially offset by the absence of net sales from hh&b in fiscal 2018 due to the sale of hh&b in april 2017 and lower land and development segment sales compared to the prior year period due to the timing of real estate sales as we monetize the portfolio and lower merchandising display sales in the consumer packaging segment . segment income increased $ 491.5 million in fiscal 2018 compared to fiscal 2017 , primarily due to increased corrugated packaging segment income . with respect to segment income , we experienced higher levels of cost inflation during fiscal 2018 as compared to fiscal 2017 , which was partially offset by recycled fiber deflation . the primary inflationary items were freight costs , chemical costs , virgin fiber costs and wage and other costs . productivity improvements in fiscal 2018 more than offset the net impact of cost inflation . while it is difficult to predict specific inflationary items , we expect higher cost inflation to continue through fiscal 2019 . our corrugated packaging segment increased its net sales by $ 695.1 million in fiscal 2018 to $ 9103.4 million from $ 8408.3 million in fiscal 2017 . the increase in net sales was primarily due to higher corrugated selling price/mix and higher corrugated volumes ( including acquisitions ) , which were partially offset by lower net sales from recycling operations due to lower recycled fiber costs , lower sales related to the deconsolidation of a foreign joint venture in fiscal 2017 and the impact of foreign currency . north american box shipments increased 4.1% ( 4.1 % ) on a per day basis in fiscal 2018 compared to fiscal 2017 . segment income attributable to the corrugated packaging segment in fiscal 2018 increased $ 454.0 million to $ 1207.9 million compared to $ 753.9 million in fiscal 2017 . the increase was primarily due to higher selling price/mix , lower recycled fiber costs and productivity improvements which were partially offset by higher levels of cost inflation and other items , including increased depreciation and amortization . our consumer packaging segment increased its net sales by $ 838.9 million in fiscal 2018 to $ 7291.4 million from $ 6452.5 million in fiscal 2017 . the increase in net sales was primarily due to an increase in net sales from acquisitions ( primarily the mps acquisition ) and higher selling price/mix partially offset by the absence of net sales from hh&b in fiscal 2018 due to the hh&b sale in april 2017 and lower volumes . segment income attributable to . Question: what was the percentage increase in the segment income from 2016 to 2017
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
0.04569
Context:. ||2008|2007|2006| |weighted average fair value of options granted|$ 18.47|$ 33.81|$ 20.01| |expected volatility|0.3845|0.3677|0.3534| |dividend yield|3.75% ( 3.75 % )|0.76% ( 0.76 % )|1.00% ( 1.00 % )| |expected life of options in years|6.0|6.0|6.3| |risk-free interest rate|2% ( 2 % )|4% ( 4 % )|5% ( 5 % )| the black-scholes option valuation model was developed for use in estimating the fair value of traded options which have no vesting restrictions and are fully transferable . in addition , option valuation models require the input of highly subjective assumptions , including the expected stock price volatility . because the company 2019s employee stock options have characteristics significantly different from those of traded options , and because changes in the subjective input assumptions can materially affect the fair value estimate , in management 2019s opinion , the existing models do not necessarily provide a reliable single measure of the fair value of its employee stock options . the fair value of the rsus was determined based on the market value at the date of grant . the total fair value of awards vested during 2008 , 2007 , and 2006 was $ 35384 , $ 17840 , and $ 9413 , respectively . the total stock based compensation expense calculated using the black-scholes option valuation model in 2008 , 2007 , and 2006 was $ 38872 , $ 22164 , and $ 11913 , respectively.the aggregate intrinsic values of options outstanding and exercisable at december 27 , 2008 were $ 8.2 million and $ 8.2 million , respectively . the aggregate intrinsic value of options exercised during the year ended december 27 , 2008 was $ 0.6 million . aggregate intrinsic value represents the positive difference between the company 2019s closing stock price on the last trading day of the fiscal period , which was $ 19.39 on december 27 , 2008 , and the exercise price multiplied by the number of options exercised . as of december 27 , 2008 , there was $ 141.7 million of total unrecognized compensation cost related to unvested share-based compensation awards granted to employees under the stock compensation plans . that cost is expected to be recognized over a period of five years . employee stock purchase plan the shareholders also adopted an employee stock purchase plan ( espp ) . up to 2000000 shares of common stock have been reserved for the espp . shares will be offered to employees at a price equal to the lesser of 85% ( 85 % ) of the fair market value of the stock on the date of purchase or 85% ( 85 % ) of the fair market value on the enrollment date . the espp is intended to qualify as an 201cemployee stock purchase plan 201d under section 423 of the internal revenue code . during 2008 , 2007 , and 2006 , 362902 , 120230 , and 124693 shares , respectively were purchased under the plan for a total purchase price of $ 8782 , $ 5730 , and $ 3569 , respectively . at december 27 , 2008 , approximately 663679 shares were available for future issuance . 10 . earnings per share the following table sets forth the computation of basic and diluted net income per share: . Question: what was the estimated percentual increase in the expected volatility observed during 2007 and 2008?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
1194.5
Context:schlumberger limited and subsidiaries shares of common stock issued in treasury shares outstanding ( stated in millions ) . ||issued|in treasury|shares outstanding| |balance january 1 2008|1334|-138 ( 138 )|1196| |shares sold to optionees less shares exchanged|2013|5|5| |shares issued under employee stock purchase plan|2013|2|2| |stock repurchase program|2013|-21 ( 21 )|-21 ( 21 )| |issued on conversions of debentures|2013|12|12| |balance december 31 2008|1334|-140 ( 140 )|1194| |shares sold to optionees less shares exchanged|2013|4|4| |vesting of restricted stock|2013|1|1| |shares issued under employee stock purchase plan|2013|4|4| |stock repurchase program|2013|-8 ( 8 )|-8 ( 8 )| |balance december 31 2009|1334|-139 ( 139 )|1195| |acquisition of smith international inc .|100|76|176| |shares sold to optionees less shares exchanged|2013|6|6| |shares issued under employee stock purchase plan|2013|3|3| |stock repurchase program|2013|-27 ( 27 )|-27 ( 27 )| |issued on conversions of debentures|2013|8|8| |balance december 31 2010|1434|-73 ( 73 )|1361| see the notes to consolidated financial statements part ii , item 8 . Question: what was the average beginning and ending balance of shares in millions outstanding during 2009?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
368.0
Context:approximately $ 32 million of federal tax payments were deferred and paid in 2009 as a result of the allied acquisition . the following table summarizes the activity in our gross unrecognized tax benefits for the years ended december 31: . ||2010|2009|2008| |balance at beginning of year|$ 242.2|$ 611.9|$ 23.2| |additions due to the allied acquisition|-|13.3|582.9| |additions based on tax positions related to current year|2.8|3.9|10.6| |reductions for tax positions related to the current year|-|-|-5.1 ( 5.1 )| |additions for tax positions of prior years|7.5|5.6|2.0| |reductions for tax positions of prior years|-7.4 ( 7.4 )|-24.1 ( 24.1 )|-1.3 ( 1.3 )| |reductions for tax positions resulting from lapse of statute of limitations|-10.4 ( 10.4 )|-0.5 ( 0.5 )|-0.4 ( 0.4 )| |settlements|-11.9 ( 11.9 )|-367.9 ( 367.9 )|-| |balance at end of year|$ 222.8|$ 242.2|$ 611.9| new accounting guidance for business combinations became effective for our 2009 financial statements . this new guidance changed the treatment of acquired uncertain tax liabilities . under previous guidance , changes in acquired uncertain tax liabilities were recognized through goodwill . under the new guidance , subsequent changes in acquired unrecognized tax liabilities are recognized through the income tax provision . as of december 31 , 2010 , $ 206.5 million of the $ 222.8 million of unrecognized tax benefits related to tax positions taken by allied prior to the 2008 acquisition . included in the balance at december 31 , 2010 and 2009 are approximately $ 209.1 million and $ 217.6 million of unrecognized tax benefits ( net of the federal benefit on state issues ) that , if recognized , would affect the effective income tax rate in future periods . during 2010 , the irs concluded its examination of our 2005 and 2007 tax years . the conclusion of this examination reduced our gross unrecognized tax benefits by approximately $ 1.9 million . we also resolved various state matters during 2010 that , in the aggregate , reduced our gross unrecognized tax benefits by approximately $ 10.0 million . during 2009 , we settled our outstanding tax dispute related to allied 2019s risk management companies ( see 2013 risk management companies ) with both the department of justice ( doj ) and the internal revenue service ( irs ) . this settlement reduced our gross unrecognized tax benefits by approximately $ 299.6 million . during 2009 , we also settled with the irs , through an accounting method change , our outstanding tax dispute related to intercompany insurance premiums paid to allied 2019s captive insurance company . this settlement reduced our gross unrecognized tax benefits by approximately $ 62.6 million . in addition to these federal matters , we also resolved various state matters that , in the aggregate , reduced our gross unrecognized tax benefits during 2009 by approximately $ 5.8 million . we recognize interest and penalties as incurred within the provision for income taxes in our consolidated statements of income . related to the unrecognized tax benefits previously noted , we accrued interest of $ 19.2 million during 2010 and , in total as of december 31 , 2010 , have recognized a liability for penalties of $ 1.2 million and interest of $ 99.9 million . during 2009 , we accrued interest of $ 24.5 million and , in total at december 31 , 2009 , had recognized a liability for penalties of $ 1.5 million and interest of $ 92.3 million . during 2008 , we accrued penalties of $ 0.2 million and interest of $ 5.2 million and , in total at december 31 , 2008 , had recognized a liability for penalties of $ 88.1 million and interest of $ 180.0 million . republic services , inc . notes to consolidated financial statements , continued . Question: in 2009 what was the gross adjustment to the unrecognized tax benefits balance based on the federal and state settlements in millions
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
0.0225
Context:results of operations for 2016 include : 1 ) $ 2836 million ( $ 1829 million net-of-tax ) of impairment and related charges primarily to write down the carrying values of the entergy wholesale commodities 2019 palisades , indian point 2 , and indian point 3 plants and related assets to their fair values ; 2 ) a reduction of income tax expense , net of unrecognized tax benefits , of $ 238 million as a result of a change in the tax classification of a legal entity that owned one of the entergy wholesale commodities nuclear power plants ; income tax benefits as a result of the settlement of the 2010-2011 irs audit , including a $ 75 million tax benefit recognized by entergy louisiana related to the treatment of the vidalia purchased power agreement and a $ 54 million net benefit recognized by entergy louisiana related to the treatment of proceeds received in 2010 for the financing of hurricane gustav and hurricane ike storm costs pursuant to louisiana act 55 ; and 3 ) a reduction in expenses of $ 100 million ( $ 64 million net-of-tax ) due to the effects of recording in 2016 the final court decisions in several lawsuits against the doe related to spent nuclear fuel storage costs . see note 14 to the financial statements for further discussion of the impairment and related charges , see note 3 to the financial statements for additional discussion of the income tax items , and see note 8 to the financial statements for discussion of the spent nuclear fuel litigation . net revenue utility following is an analysis of the change in net revenue comparing 2017 to 2016 . amount ( in millions ) . ||amount ( in millions )| |2016 net revenue|$ 6179| |retail electric price|91| |regulatory credit resulting from reduction of thefederal corporate income tax rate|56| |grand gulf recovery|27| |louisiana act 55 financing savings obligation|17| |volume/weather|-61 ( 61 )| |other|9| |2017 net revenue|$ 6318| the retail electric price variance is primarily due to : 2022 the implementation of formula rate plan rates effective with the first billing cycle of january 2017 at entergy arkansas and an increase in base rates effective february 24 , 2016 , each as approved by the apsc . a significant portion of the base rate increase was related to the purchase of power block 2 of the union power station in march 2016 ; 2022 a provision recorded in 2016 related to the settlement of the waterford 3 replacement steam generator prudence review proceeding ; 2022 the implementation of the transmission cost recovery factor rider at entergy texas , effective september 2016 , and an increase in the transmission cost recovery factor rider rate , effective march 2017 , as approved by the puct ; and 2022 an increase in rates at entergy mississippi , as approved by the mpsc , effective with the first billing cycle of july 2016 . see note 2 to the financial statements for further discussion of the rate proceedings and the waterford 3 replacement steam generator prudence review proceeding . see note 14 to the financial statements for discussion of the union power station purchase . entergy corporation and subsidiaries management 2019s financial discussion and analysis . Question: what was the percent of the change in the net revenue from 2016 to 2017
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
1.14
Context:notes to consolidated financial statements 2014 ( continued ) the weighted average grant-date fair value of share awards granted in the years ended may 31 , 2007 and 2006 was $ 45 and $ 36 , respectively . the total fair value of share awards vested during the years ended may 31 , 2008 , 2007 and 2006 was $ 4.1 million , $ 1.7 million and $ 1.4 million , respectively . we recognized compensation expenses for restricted stock of $ 5.7 million , $ 2.7 million , and $ 1.6 million in the years ended may 31 , 2008 , 2007 and 2006 . as of may 31 , 2008 , there was $ 15.2 million of total unrecognized compensation cost related to unvested restricted stock awards that is expected to be recognized over a weighted average period of 2.9 years . employee stock purchase plan we have an employee stock purchase plan under which the sale of 2.4 million shares of our common stock has been authorized . employees may designate up to the lesser of $ 25 thousand or 20% ( 20 % ) of their annual compensation for the purchase of stock . for periods prior to october 1 , 2006 , the price for shares purchased under the plan was the lower of 85% ( 85 % ) of the market value on the first day or the last day of the quarterly purchase period . with the quarterly purchase period beginning on october 1 , 2006 , the price for shares purchased under the plan is 85% ( 85 % ) of the market value on the last day of the quarterly purchase period ( the 201cpurchase date 201d ) . at may 31 , 2008 , 0.7 million shares had been issued under this plan , with 1.7 million shares reserved for future issuance . the weighted average grant-date fair value of each designated share purchased under this plan was $ 6 , $ 8 and $ 8 in the years ended may 31 , 2008 , 2007 and 2006 , respectively . for the quarterly purchases after october 1 , 2006 , the fair value of each designated share purchased under the employee stock purchase plan is based on the 15% ( 15 % ) discount on the purchase date . for purchases prior to october 1 , 2006 , the fair value of each designated share purchased under the employee stock purchase plan was estimated on the date of grant using the black-scholes valuation model using the following weighted average assumptions: . ||2007|2006| |risk-free interest rates|4.93% ( 4.93 % )|3.72% ( 3.72 % )| |expected volatility|37.02% ( 37.02 % )|26.06% ( 26.06 % )| |dividend yields|0.19% ( 0.19 % )|0.34% ( 0.34 % )| |expected lives|3 months|3 months| the risk-free interest rate is based on the yield of a zero coupon united states treasury security with a maturity equal to the expected life of the option from the date of the grant . our assumption on expected volatility is based on our historical volatility . the dividend yield assumption is calculated using our average stock price over the preceding year and the annualized amount of our current quarterly dividend . since the purchase price for shares under the plan is based on the market value on the first day or last day of the quarterly purchase period , we use an expected life of three months to determine the fair value of each designated share. . Question: in 2008 , how much of the compensation will be used on stock purchases if the employees used 20% ( 20 % ) of their compensation?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
230005.33333
Context:notes to consolidated financial statements ( continued ) 17 . pension plans and postretirement health care and life insurance benefit plans ( continued ) benefit payments the following table sets forth amounts of benefits expected to be paid over the next ten years from the company 2019s pension and postretirement plans as of december 31 , 2004: . ||pension benefits|other postretirement benefits| |2005|$ 125|$ 30| |2006|132|31| |2007|143|31| |2008|154|33| |2009|166|34| |2010-2014|1052|193| |total|$ 1772|$ 352| 18 . stock compensation plans on may 18 , 2000 , the shareholders of the hartford approved the hartford incentive stock plan ( the 201c2000 plan 201d ) , which replaced the hartford 1995 incentive stock plan ( the 201c1995 plan 201d ) . the terms of the 2000 plan were substantially similar to the terms of the 1995 plan except that the 1995 plan had an annual award limit and a higher maximum award limit . under the 2000 plan , awards may be granted in the form of non-qualified or incentive stock options qualifying under section 422a of the internal revenue code , performance shares or restricted stock , or any combination of the foregoing . in addition , stock appreciation rights may be granted in connection with all or part of any stock options granted under the 2000 plan . in december 2004 , the 2000 plan was amended to allow for grants of restricted stock units effective as of january 1 , 2005 . the aggregate number of shares of stock , which may be awarded , is subject to a maximum limit of 17211837 shares applicable to all awards for the ten-year duration of the 2000 plan . all options granted have an exercise price equal to the market price of the company 2019s common stock on the date of grant , and an option 2019s maximum term is ten years and two days . certain options become exercisable over a three year period commencing one year from the date of grant , while certain other options become exercisable upon the attainment of specified market price appreciation of the company 2019s common shares . for any year , no individual employee may receive an award of options for more than 1000000 shares . as of december 31 , 2004 , the hartford had not issued any incentive stock options under the 2000 plan . performance awards of common stock granted under the 2000 plan become payable upon the attainment of specific performance goals achieved over a period of not less than one nor more than five years , and the restricted stock granted is subject to a restriction period . on a cumulative basis , no more than 20% ( 20 % ) of the aggregate number of shares which may be awarded under the 2000 plan are available for performance shares and restricted stock awards . also , the maximum award of performance shares for any individual employee in any year is 200000 shares . in 2004 , 2003 and 2002 , the company granted shares of common stock of 315452 , 333712 and 40852 with weighted average prices of $ 64.93 , $ 38.13 and $ 62.28 , respectively , related to performance share and restricted stock awards . in 1996 , the company established the hartford employee stock purchase plan ( 201cespp 201d ) . under this plan , eligible employees of the hartford may purchase common stock of the company at a 15% ( 15 % ) discount from the lower of the closing market price at the beginning or end of the quarterly offering period . the company may sell up to 5400000 shares of stock to eligible employees under the espp . in 2004 , 2003 and 2002 , 345262 , 443467 and 408304 shares were sold , respectively . the per share weighted average fair value of the discount under the espp was $ 9.31 , $ 11.96 , and $ 11.70 in 2004 , 2003 and 2002 , respectively . additionally , during 1997 , the hartford established employee stock purchase plans for certain employees of the company 2019s international subsidiaries . under these plans , participants may purchase common stock of the hartford at a fixed price at the end of a three-year period . the activity under these programs is not material. . Question: what was the average shares the company granted of common stock from 2002 to 2004
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
1116000.0
Context:112 / sl green realty corp . 2017 annual report 20 . commitments and contingencies legal proceedings as of december a031 , 2017 , the company and the operating partnership were not involved in any material litigation nor , to management 2019s knowledge , was any material litigation threat- ened against us or our portfolio which if adversely determined could have a material adverse impact on us . environmental matters our management believes that the properties are in compliance in all material respects with applicable federal , state and local ordinances and regulations regarding environmental issues . management is not aware of any environmental liability that it believes would have a materially adverse impact on our financial position , results of operations or cash flows . management is unaware of any instances in which it would incur significant envi- ronmental cost if any of our properties were sold . employment agreements we have entered into employment agreements with certain exec- utives , which expire between december a02018 and february a02020 . the minimum cash-based compensation , including base sal- ary and guaranteed bonus payments , associated with these employment agreements total $ 5.4 a0million for 2018 . in addition these employment agreements provide for deferred compen- sation awards based on our stock price and which were valued at $ 1.6 a0million on the grant date . the value of these awards may change based on fluctuations in our stock price . insurance we maintain 201call-risk 201d property and rental value coverage ( includ- ing coverage regarding the perils of flood , earthquake and terrorism , excluding nuclear , biological , chemical , and radiological terrorism ( 201cnbcr 201d ) ) , within three property insurance programs and liability insurance . separate property and liability coverage may be purchased on a stand-alone basis for certain assets , such as the development of one vanderbilt . additionally , our captive insurance company , belmont insurance company , or belmont , pro- vides coverage for nbcr terrorist acts above a specified trigger , although if belmont is required to pay a claim under our insur- ance policies , we would ultimately record the loss to the extent of belmont 2019s required payment . however , there is no assurance that in the future we will be able to procure coverage at a reasonable cost . further , if we experience losses that are uninsured or that exceed policy limits , we could lose the capital invested in the damaged properties as well as the anticipated future cash flows from those plan trustees adopted a rehabilitation plan consistent with this requirement . no surcharges have been paid to the pension plan as of december a031 , 2017 . for the pension plan years ended june a030 , 2017 , 2016 , and 2015 , the plan received contributions from employers totaling $ 257.8 a0million , $ 249.5 a0million , and $ 221.9 a0million . our contributions to the pension plan represent less than 5.0% ( 5.0 % ) of total contributions to the plan . the health plan was established under the terms of collective bargaining agreements between the union , the realty advisory board on labor relations , inc . and certain other employees . the health plan provides health and other benefits to eligible participants employed in the building service industry who are covered under collective bargaining agreements , or other writ- ten agreements , with the union . the health plan is administered by a board of trustees with equal representation by the employ- ers and the union and operates under employer identification number a013-2928869 . the health plan receives contributions in accordance with collective bargaining agreements or participa- tion agreements . generally , these agreements provide that the employers contribute to the health plan at a fixed rate on behalf of each covered employee . for the health plan years ended , june a030 , 2017 , 2016 , and 2015 , the plan received contributions from employers totaling $ 1.3 a0billion , $ 1.2 a0billion and $ 1.1 a0billion , respectively . our contributions to the health plan represent less than 5.0% ( 5.0 % ) of total contributions to the plan . contributions we made to the multi-employer plans for the years ended december a031 , 2017 , 2016 and 2015 are included in the table below ( in thousands ) : . |benefit plan|2017|2016|2015| |pension plan|$ 3856|$ 3979|$ 2732| |health plan|11426|11530|8736| |other plans|1463|1583|5716| |total plan contributions|$ 16745|$ 17092|$ 17184| 401 ( k ) plan in august a01997 , we implemented a 401 ( k ) a0savings/retirement plan , or the 401 ( k ) a0plan , to cover eligible employees of ours , and any designated affiliate . the 401 ( k ) a0plan permits eligible employees to defer up to 15% ( 15 % ) of their annual compensation , subject to certain limitations imposed by the code . the employees 2019 elective deferrals are immediately vested and non-forfeitable upon contribution to the 401 ( k ) a0plan . during a02003 , we amended our 401 ( k ) a0plan to pro- vide for discretionary matching contributions only . for 2017 , 2016 and 2015 , a matching contribution equal to 50% ( 50 % ) of the first 6% ( 6 % ) of annual compensation was made . for the year ended december a031 , 2017 , we made a matching contribution of $ 728782 . for the years ended december a031 , 2016 and 2015 , we made matching contribu- tions of $ 566000 and $ 550000 , respectively. . Question: for the years ended december 31 , 2016 and 2015 , what were total matching contributions?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
-0.02817
Context:the goldman sachs group , inc . and subsidiaries notes to consolidated financial statements lending commitments the firm 2019s lending commitments are agreements to lend with fixed termination dates and depend on the satisfaction of all contractual conditions to borrowing . these commitments are presented net of amounts syndicated to third parties . the total commitment amount does not necessarily reflect actual future cash flows because the firm may syndicate all or substantial additional portions of these commitments . in addition , commitments can expire unused or be reduced or cancelled at the counterparty 2019s request . the table below presents information about lending commitments. . |$ in millions|as of december 2018|as of december 2017| |held for investment|$ 120997|$ 124504| |held for sale|8602|9838| |at fair value|7983|9404| |total|$ 137582|$ 143746| in the table above : 2030 held for investment lending commitments are accounted for on an accrual basis . see note 9 for further information about such commitments . 2030 held for sale lending commitments are accounted for at the lower of cost or fair value . 2030 gains or losses related to lending commitments at fair value , if any , are generally recorded , net of any fees in other principal transactions . 2030 substantially all lending commitments relates to the firm 2019s investing & lending segment . commercial lending . the firm 2019s commercial lending commitments were primarily extended to investment-grade corporate borrowers . such commitments included $ 93.99 billion as of december 2018 and $ 85.98 billion as of december 2017 , related to relationship lending activities ( principally used for operating and general corporate purposes ) and $ 27.92 billion as of december 2018 and $ 42.41 billion as of december 2017 , related to other investment banking activities ( generally extended for contingent acquisition financing and are often intended to be short-term in nature , as borrowers often seek to replace them with other funding sources ) . the firm also extends lending commitments in connection with other types of corporate lending , as well as commercial real estate financing . see note 9 for further information about funded loans . sumitomo mitsui financial group , inc . ( smfg ) provides the firm with credit loss protection on certain approved loan commitments ( primarily investment-grade commercial lending commitments ) . the notional amount of such loan commitments was $ 15.52 billion as of december 2018 and $ 25.70 billion as of december 2017 . the credit loss protection on loan commitments provided by smfg is generally limited to 95% ( 95 % ) of the first loss the firm realizes on such commitments , up to a maximum of approximately $ 950 million . in addition , subject to the satisfaction of certain conditions , upon the firm 2019s request , smfg will provide protection for 70% ( 70 % ) of additional losses on such commitments , up to a maximum of $ 1.0 billion , of which $ 550 million of protection had been provided as of both december 2018 and december 2017 . the firm also uses other financial instruments to mitigate credit risks related to certain commitments not covered by smfg . these instruments primarily include credit default swaps that reference the same or similar underlying instrument or entity , or credit default swaps that reference a market index . warehouse financing . the firm provides financing to clients who warehouse financial assets . these arrangements are secured by the warehoused assets , primarily consisting of consumer and corporate loans . contingent and forward starting collateralized agreements / forward starting collateralized financings forward starting collateralized agreements includes resale and securities borrowing agreements , and forward starting collateralized financings includes repurchase and secured lending agreements that settle at a future date , generally within three business days . the firm also enters into commitments to provide contingent financing to its clients and counterparties through resale agreements . the firm 2019s funding of these commitments depends on the satisfaction of all contractual conditions to the resale agreement and these commitments can expire unused . letters of credit the firm has commitments under letters of credit issued by various banks which the firm provides to counterparties in lieu of securities or cash to satisfy various collateral and margin deposit requirements . investment commitments investment commitments includes commitments to invest in private equity , real estate and other assets directly and through funds that the firm raises and manages . investment commitments included $ 2.42 billion as of december 2018 and $ 2.09 billion as of december 2017 , related to commitments to invest in funds managed by the firm . if these commitments are called , they would be funded at market value on the date of investment . goldman sachs 2018 form 10-k 159 . Question: what is the growth rate in the balance of lending commitments held for investment in 2018?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
67.5
Context:provision for income taxes increased $ 1791 million in 2012 from 2011 primarily due to the increase in pretax income from continuing operations , including the impact of the resumption of sales in libya in the first quarter of 2012 . the following is an analysis of the effective income tax rates for 2012 and 2011: . ||2012|2011| |statutory rate applied to income from continuing operations before income taxes|35% ( 35 % )|35% ( 35 % )| |effects of foreign operations including foreign tax credits|18|6| |change in permanent reinvestment assertion|2014|5| |adjustments to valuation allowances|21|14| |tax law changes|2014|1| |effective income tax rate on continuing operations|74% ( 74 % )|61% ( 61 % )| the effective income tax rate is influenced by a variety of factors including the geographic sources of income and the relative magnitude of these sources of income . the provision for income taxes is allocated on a discrete , stand-alone basis to pretax segment income and to individual items not allocated to segments . the difference between the total provision and the sum of the amounts allocated to segments appears in the "corporate and other unallocated items" shown in the reconciliation of segment income to net income below . effects of foreign operations 2013 the effects of foreign operations on our effective tax rate increased in 2012 as compared to 2011 , primarily due to the resumption of sales in libya in the first quarter of 2012 , where the statutory rate is in excess of 90 percent . change in permanent reinvestment assertion 2013 in the second quarter of 2011 , we recorded $ 716 million of deferred u.s . tax on undistributed earnings of $ 2046 million that we previously intended to permanently reinvest in foreign operations . offsetting this tax expense were associated foreign tax credits of $ 488 million . in addition , we reduced our valuation allowance related to foreign tax credits by $ 228 million due to recognizing deferred u.s . tax on previously undistributed earnings . adjustments to valuation allowances 2013 in 2012 and 2011 , we increased the valuation allowance against foreign tax credits because it is more likely than not that we will be unable to realize all u.s . benefits on foreign taxes accrued in those years . see item 8 . financial statements and supplementary data - note 10 to the consolidated financial statements for further information about income taxes . discontinued operations is presented net of tax , and reflects our downstream business that was spun off june 30 , 2011 and our angola business which we agreed to sell in 2013 . see item 8 . financial statements and supplementary data 2013 notes 3 and 6 to the consolidated financial statements for additional information. . Question: what was the average effective income tax rate on continuing operations?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
4.51
Context:table of contents index to financial statements item 3 . legal proceedings . item 4 . mine safety disclosures . not applicable . part ii price range our common stock trades on the nasdaq global select market under the symbol 201cmktx 201d . the range of closing price information for our common stock , as reported by nasdaq , was as follows : on february 16 , 2012 , the last reported closing price of our common stock on the nasdaq global select market was $ 32.65 . holders there were 41 holders of record of our common stock as of february 16 , 2012 . dividend policy we initiated a regular quarterly dividend in the fourth quarter of 2009 . during 2010 and 2011 , we paid quarterly cash dividends of $ 0.07 per share and $ 0.09 per share , respectively . in january 2012 , our board of directors approved a quarterly cash dividend of $ 0.11 per share payable on march 1 , 2012 to stockholders of record as of the close of business on february 16 , 2012 . any future declaration and payment of dividends will be at the sole discretion of the company 2019s board of directors . the board of directors may take into account such matters as general business conditions , the company 2019s financial results , capital requirements , contractual , legal , and regulatory restrictions on the payment of dividends to the company 2019s stockholders or by the company 2019s subsidiaries to the parent and any such other factors as the board of directors may deem relevant . recent sales of unregistered securities item 5 . market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities. . |2011:|high|low| |january 1 2011 to march 31 2011|$ 24.19|$ 19.78| |april 1 2011 to june 30 2011|$ 25.22|$ 21.00| |july 1 2011 to september 30 2011|$ 30.75|$ 23.41| |october 1 2011 to december 31 2011|$ 31.16|$ 24.57| |2010:|high|low| |january 1 2010 to march 31 2010|$ 16.20|$ 13.25| |april 1 2010 to june 30 2010|$ 17.40|$ 13.45| |july 1 2010 to september 30 2010|$ 17.30|$ 12.39| |october 1 2010 to december 31 2010|$ 20.93|$ 16.93| . Question: what was the total cash dividend paid to holders of common stock as of february 12 , 2012?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
0.35897
Context:we believe that the presentation of adjusted diluted earnings per share , which excludes withdrawal costs 2013 multiemployer pension funds , restructuring charges , loss on extinguishment of debt , and ( gain ) loss on business dispositions and impairments , net , provides an understanding of operational activities before the financial effect of certain items . we use this measure , and believe investors will find it helpful , in understanding the ongoing performance of our operations separate from items that have a disproportionate effect on our results for a particular period . we have incurred comparable charges and costs in prior periods , and similar types of adjustments can reasonably be expected to be recorded in future periods . our definition of adjusted diluted earnings per share may not be comparable to similarly titled measures presented by other companies . property and equipment , net in 2017 , we anticipate receiving approximately $ 975 million of property and equipment , net of proceeds from sales of property and equipment , as follows: . |trucks and equipment|$ 350| |landfill|330| |containers|160| |facilities and other|150| |property and equipment received during 2017|990| |proceeds from sales of property and equipment|-15 ( 15 )| |property and equipment received net of proceeds during 2017|$ 975| results of operations revenue we generate revenue primarily from our solid waste collection operations . our remaining revenue is from other services , including transfer station , landfill disposal , recycling , and energy services . our residential and small- container commercial collection operations in some markets are based on long-term contracts with municipalities . certain of our municipal contracts have annual price escalation clauses that are tied to changes in an underlying base index such as a consumer price index . we generally provide small-container commercial and large-container industrial collection services to customers under contracts with terms up to three years . our transfer stations , landfills and , to a lesser extent , our recycling facilities generate revenue from disposal or tipping fees charged to third parties . in general , we integrate our recycling operations with our collection operations and obtain revenue from the sale of recycled commodities . our revenue from energy services consists mainly of fees we charge for the treatment of liquid and solid waste derived from the production of oil and natural gas . other revenue consists primarily of revenue from national accounts , which represents the portion of revenue generated from nationwide or regional contracts in markets outside our operating areas where the associated waste handling services are subcontracted to local operators . consequently , substantially all of this revenue is offset with related subcontract costs , which are recorded in cost of operations. . Question: as part of the sales proceeds net what was the percent of the trucks and equipment
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
148.27586
Context: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 . in addition , under the terms of the merger agreement , we have agreed with aetna to coordinate the declaration and payment of dividends so that our stockholders do not fail to receive a quarterly dividend around the time of the closing of the merger . on october 29 , 2015 , the board declared a cash dividend of $ 0.29 per share that was paid on january 29 , 2016 to stockholders of record on december 30 , 2015 , for an aggregate amount of $ 43 million . stock total return performance the following graph compares our total return to stockholders with the returns of the standard & poor 2019s composite 500 index ( 201cs&p 500 201d ) and the dow jones us select health care providers index ( 201cpeer group 201d ) for the five years ended december 31 , 2015 . the graph assumes an investment of $ 100 in each of our common stock , the s&p 500 , and the peer group on december 31 , 2010 , and that dividends were reinvested when paid. . ||12/31/2010|12/31/2011|12/31/2012|12/31/2013|12/31/2014|12/31/2015| |hum|$ 100|$ 162|$ 128|$ 195|$ 274|$ 343| |s&p 500|$ 100|$ 102|$ 118|$ 157|$ 178|$ 181| |peer group|$ 100|$ 110|$ 129|$ 177|$ 226|$ 239| the stock price performance included in this graph is not necessarily indicative of future stock price performance. . Question: as of december 30 , what was the number of stockholders of record 2015 in millions
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
0.13339
Context:cgmhi also has substantial borrowing arrangements consisting of facilities that cgmhi has been advised are available , but where no contractual lending obligation exists . these arrangements are reviewed on an ongoing basis to ensure flexibility in meeting cgmhi 2019s short-term requirements . the company issues both fixed and variable rate debt in a range of currencies . it uses derivative contracts , primarily interest rate swaps , to effectively convert a portion of its fixed rate debt to variable rate debt and variable rate debt to fixed rate debt . the maturity structure of the derivatives generally corresponds to the maturity structure of the debt being hedged . in addition , the company uses other derivative contracts to manage the foreign exchange impact of certain debt issuances . at december 31 , 2009 , the company 2019s overall weighted average interest rate for long-term debt was 3.51% ( 3.51 % ) on a contractual basis and 3.91% ( 3.91 % ) including the effects of derivative contracts . aggregate annual maturities of long-term debt obligations ( based on final maturity dates ) including trust preferred securities are as follows: . |in millions of dollars|2010|2011|2012|2013|2014|thereafter| |citigroup parent company|$ 18030|$ 20435|$ 29706|$ 17775|$ 18916|$ 92942| |other citigroup subsidiaries|18710|29316|17214|5177|12202|14675| |citigroup global markets holdings inc .|1315|1030|1686|388|522|8481| |citigroup funding inc .|9107|8875|20738|4792|3255|8732| |total|$ 47162|$ 59656|$ 69344|$ 28132|$ 34895|$ 124830| long-term debt at december 31 , 2009 and december 31 , 2008 includes $ 19345 million and $ 24060 million , respectively , of junior subordinated debt . the company formed statutory business trusts under the laws of the state of delaware . the trusts exist for the exclusive purposes of ( i ) issuing trust securities representing undivided beneficial interests in the assets of the trust ; ( ii ) investing the gross proceeds of the trust securities in junior subordinated deferrable interest debentures ( subordinated debentures ) of its parent ; and ( iii ) engaging in only those activities necessary or incidental thereto . upon approval from the federal reserve , citigroup has the right to redeem these securities . citigroup has contractually agreed not to redeem or purchase ( i ) the 6.50% ( 6.50 % ) enhanced trust preferred securities of citigroup capital xv before september 15 , 2056 , ( ii ) the 6.45% ( 6.45 % ) enhanced trust preferred securities of citigroup capital xvi before december 31 , 2046 , ( iii ) the 6.35% ( 6.35 % ) enhanced trust preferred securities of citigroup capital xvii before march 15 , 2057 , ( iv ) the 6.829% ( 6.829 % ) fixed rate/floating rate enhanced trust preferred securities of citigroup capital xviii before june 28 , 2047 , ( v ) the 7.250% ( 7.250 % ) enhanced trust preferred securities of citigroup capital xix before august 15 , 2047 , ( vi ) the 7.875% ( 7.875 % ) enhanced trust preferred securities of citigroup capital xx before december 15 , 2067 , and ( vii ) the 8.300% ( 8.300 % ) fixed rate/floating rate enhanced trust preferred securities of citigroup capital xxi before december 21 , 2067 , unless certain conditions , described in exhibit 4.03 to citigroup 2019s current report on form 8-k filed on september 18 , 2006 , in exhibit 4.02 to citigroup 2019s current report on form 8-k filed on november 28 , 2006 , in exhibit 4.02 to citigroup 2019s current report on form 8-k filed on march 8 , 2007 , in exhibit 4.02 to citigroup 2019s current report on form 8-k filed on july 2 , 2007 , in exhibit 4.02 to citigroup 2019s current report on form 8-k filed on august 17 , 2007 , in exhibit 4.2 to citigroup 2019s current report on form 8-k filed on november 27 , 2007 , and in exhibit 4.2 to citigroup 2019s current report on form 8-k filed on december 21 , 2007 , respectively , are met . these agreements are for the benefit of the holders of citigroup 2019s 6.00% ( 6.00 % ) junior subordinated deferrable interest debentures due 2034 . citigroup owns all of the voting securities of these subsidiary trusts . these subsidiary trusts have no assets , operations , revenues or cash flows other than those related to the issuance , administration , and repayment of the subsidiary trusts and the subsidiary trusts 2019 common securities . these subsidiary trusts 2019 obligations are fully and unconditionally guaranteed by citigroup. . Question: what was the percent of the change in the aggregate annual maturities of long-term debt obligations for the citigroup parent company from 2010 to 2011
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
0.0033
Context:investing activities for the year ended 30 september 2016 , cash used for investing activities was $ 972.0 , driven by capital expenditures for plant and equipment of $ 1055.8 . proceeds from the sale of assets and investments of $ 85.5 was primarily driven by the receipt of $ 30.0 for our rights to a corporate aircraft that was under construction , $ 15.9 for the sale of our 20% ( 20 % ) equity investment in daido air products electronics , inc. , and $ 14.9 for the sale of a wholly owned subsidiary located in wuhu , china . for the year ended 30 september 2015 , cash used for investing activities was $ 1250.5 , primarily capital expenditures for plant and equipment . on 30 december 2014 , we acquired our partner 2019s equity ownership interest in a liquefied atmospheric industrial gases production joint venture in north america which increased our ownership from 50% ( 50 % ) to 100% ( 100 % ) . refer to note 6 , business combination , to the consolidated financial statements for additional information . for the year ended 30 september 2014 , cash used for investing activities was $ 1316.5 , primarily capital expenditures for plant and equipment . refer to the capital expenditures section below for additional detail . capital expenditures capital expenditures are detailed in the following table: . ||2016|2015|2014| |additions to plant and equipment|$ 1055.8|$ 1265.6|$ 1362.7| |acquisitions less cash acquired|2014|34.5|2014| |investments in and advances to unconsolidated affiliates|2014|4.3|-2.0 ( 2.0 )| |capital expenditures on a gaap basis|$ 1055.8|$ 1304.4|$ 1360.7| |capital lease expenditures ( a )|27.2|95.6|202.4| |purchase of noncontrolling interests in a subsidiary ( a )|2014|278.4|.5| |capital expenditures on a non-gaap basis|$ 1083.0|$ 1678.4|$ 1563.6| ( 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 purchase of subsidiary shares from noncontrolling interests is accounted for 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 2016 totaled $ 1055.8 , compared to $ 1265.6 in 2015 . the decrease of $ 209.8 was primarily due to the completion of major projects in 2016 and 2015 . additions to plant and equipment also included support capital of a routine , ongoing nature , including expenditures for distribution equipment and facility improvements . spending in 2016 and 2015 included plant and equipment constructed to provide oxygen for coal gasification in china , hydrogen to the global market , oxygen to the steel industry , nitrogen to the electronic semiconductor industry , and capacity expansion for the materials technologies segment . capital expenditures on a non-gaap basis in 2016 totaled $ 1083.0 compared to $ 1678.4 in 2015 . the decrease of $ 595.4 was primarily due to the prior year purchase of the 30.5% ( 30.5 % ) equity interest in our indura s.a . subsidiary from the largest minority shareholder for $ 277.9 . refer to note 21 , noncontrolling interests , to the consolidated financial statements for additional details . additionally , capital lease expenditures of $ 27.2 , decreased by $ 68.4 , reflecting lower project spending . on 19 april 2015 , a joint venture between air products and acwa holding entered into a 20-year oxygen and nitrogen supply agreement to supply saudi aramco 2019s oil refinery and power plant being built in jazan , saudi arabia . air products owns 25% ( 25 % ) of the joint venture . during 2016 and 2015 , we recorded noncash transactions which resulted in an increase of $ 26.9 and $ 67.5 , respectively , to our investment in net assets of and advances to equity affiliates for our obligation to invest in the joint venture . these noncash transactions have been excluded from the consolidated statements of cash flows . in total , we expect to invest approximately $ 100 in this joint venture . air products has also entered into a sale of equipment contract with the joint venture to engineer , procure , and construct the industrial gas facilities that will supply the gases to saudi aramco. . Question: considering the 2015's capital expenditures on a gaap basis , what is the percentage of the investments in and advances to unconsolidated affiliates in the total value?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
3739.4
Context:engineered products and solutions . ||2015|2014|2013| |third-party sales|$ 5342|$ 4217|$ 4054| |atoi|$ 595|$ 579|$ 569| this segment represents a portion of alcoa 2019s downstream operations and produces products that are used mostly in the aerospace ( commercial and defense ) , commercial transportation , and power generation end markets . such products include fastening systems ( titanium , steel , and nickel alloys ) and seamless rolled rings ( mostly nickel alloys ) ; and investment castings ( nickel super alloys , titanium , and aluminum ) , including airfoils and forged jet engine components ( e.g. , jet engine disks ) , all of which are sold directly to customers and through distributors . more than 70% ( 70 % ) of the third- party sales in this segment are from the aerospace end market . a small part of this segment also produces various forging and extrusion metal products for the oil and gas , industrial products , automotive , and land and sea defense end markets . seasonal decreases in sales are generally experienced in the third quarter of the year due to the european summer slowdown across all end markets . generally , the sales and costs and expenses of this segment are transacted in the local currency of the respective operations , which are mostly the u.s . dollar and the euro . in march 2015 , alcoa completed the acquisition of an aerospace castings company , tital , a privately held company with approximately 650 employees based in germany . tital produces aluminum and titanium investment casting products for the aerospace and defense end markets . in 2014 , tital generated sales of approximately $ 100 . the purpose of this acquisition is to capture increasing demand for advanced jet engine components made of titanium , establish titanium-casting capabilities in europe , and expand existing aluminum casting capacity . the operating results and assets and liabilities of tital were included within the engineered products and solutions segment since the date of acquisition . also in march 2015 , alcoa signed a definitive agreement to acquire rti international metals , inc . ( rti ) , a global supplier of titanium and specialty metal products and services for the commercial aerospace , defense , energy , and medical device end markets . on july 23 , 2015 , after satisfying all customary closing conditions and receiving the required regulatory and rti shareholder approvals , alcoa completed the acquisition of rti . the purpose of this acquisition is to expand alcoa 2019s range of titanium offerings and add advanced technologies and materials , primarily related to the aerospace end market . in 2014 , rti generated net sales of $ 794 and had approximately 2600 employees . alcoa estimates that rti will generate approximately $ 1200 in third-party sales by 2019 . in executing its integration plan for rti , alcoa expects to realize annual cost savings of approximately $ 100 by 2019 due to synergies derived from procurement and productivity improvements , leveraging alcoa 2019s global shared services , and driving profitable growth . the operating results and assets and liabilities of rti were included within the engineered products and solutions segment since the date of acquisition . on november 19 , 2014 , after satisfying all customary closing conditions and receiving the required regulatory approvals , alcoa completed the acquisition of firth rixson , a global leader in aerospace jet engine components . firth rixson manufactures rings , forgings , and metal products for the aerospace end market , as well as other markets requiring highly engineered material applications . the purpose of this acquisition is to strengthen alcoa 2019s aerospace business and position the company to capture additional aerospace growth with a broader range of high-growth , value- add jet engine components . this business generated sales of approximately $ 970 in 2014 and has 13 operating facilities in the united states , united kingdom , europe , and asia employing approximately 2400 people combined . in executing its integration plan for firth rixson , alcoa expects to realize annual cost savings of more than $ 100 by 2019 due to synergies derived from procurement and productivity improvements , optimizing internal metal supply , and leveraging alcoa 2019s global shared services . the operating results and assets and liabilities of firth rixson were included within the engineered products and solutions segment since the date of acquisition . third-party sales for the engineered products and solutions segment improved 27% ( 27 % ) in 2015 compared with 2014 , largely attributable to the third-party sales ( $ 1310 ) of three acquired businesses ( see above ) , primarily aerospace- related , and higher volumes in this segment 2019s organic businesses , mostly related to the aerospace end market . these positive impacts were slightly offset by unfavorable foreign currency movements , principally driven by a weaker euro. . Question: what is the total of dollars brought in by the aerospace end market segment in 2015?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
0.3125
Context:our consolidated net cash flows used for investing activities were $ 4.2 billion in 2010 , compared with $ 3.2 billion in 2009 . net investing activities for the indicated periods were related primarily to net purchases of fixed maturities and for 2010 included the acquisitions of rain and hail and jerneh insurance berhad . our consolidated net cash flows from financing activities were $ 732 million in 2010 , compared with net cash flows used for financing activities of $ 321 million in 2009 . net cash flows from/used for financing activities in 2010 and 2009 , included dividends paid on our common shares of $ 435 million and $ 388 million , respectively . net cash flows from financing activ- ities in 2010 , included net proceeds of $ 699 million from the issuance of long-term debt , $ 1 billion in reverse repurchase agreements , and $ 300 million in credit facility borrowings . this was partially offset by repayment of $ 659 million in debt and share repurchases settled in 2010 of $ 235 million . for 2009 , net cash flows used for financing activities included net pro- ceeds from the issuance of $ 500 million in long-term debt and the net repayment of debt and reverse repurchase agreements of $ 466 million . both internal and external forces influence our financial condition , results of operations , and cash flows . claim settle- ments , premium levels , and investment returns may be impacted by changing rates of inflation and other economic conditions . in many cases , significant periods of time , ranging up to several years or more , may lapse between the occurrence of an insured loss , the reporting of the loss to us , and the settlement of the liability for that loss . from time to time , we utilize reverse repurchase agreements as a low-cost alternative for short-term funding needs . we use these instruments on a limited basis to address short-term cash timing differences without disrupting our investment portfolio holdings and settle the transactions with future operating cash flows . at december 31 , 2010 , there were $ 1 billion in reverse repurchase agreements outstanding ( refer to short-term debt ) . in addition to cash from operations , routine sales of investments , and financing arrangements , we have agreements with a bank provider which implemented two international multi-currency notional cash pooling programs to enhance cash management efficiency during periods of short-term timing mismatches between expected inflows and outflows of cash by currency . in each program , participating ace entities establish deposit accounts in different currencies with the bank provider and each day the credit or debit balances in every account are notionally translated into a single currency ( u.s . dollars ) and then notionally pooled . the bank extends overdraft credit to any participating ace entity as needed , provided that the overall notionally-pooled balance of all accounts in each pool at the end of each day is at least zero . actual cash balances are not physically converted and are not co-mingled between legal entities . ace entities may incur overdraft balances as a means to address short-term timing mismatches , and any overdraft balances incurred under this program by an ace entity would be guaranteed by ace limited ( up to $ 150 million in the aggregate ) . our revolving credit facility allows for same day drawings to fund a net pool overdraft should participating ace entities withdraw contributed funds from the pool . capital resources capital resources consist of funds deployed or available to be deployed to support our business operations . the following table summarizes the components of our capital resources at december 31 , 2010 , and 2009. . |( in millions of u.s . dollars except for percentages )|2010|2009| |short-term debt|$ 1300|$ 161| |long-term debt|3358|3158| |total debt|4658|3319| |trust preferred securities|309|309| |total shareholders 2019 equity|22974|19667| |total capitalization|$ 27941|$ 23295| |ratio of debt to total capitalization|16.7% ( 16.7 % )|14.2% ( 14.2 % )| |ratio of debt plus trust preferred securities to total capitalization|17.8% ( 17.8 % )|15.6% ( 15.6 % )| our ratios of debt to total capitalization and debt plus trust preferred securities to total capitalization have increased temporarily due to the increase in short-term debt , as discussed below . we expect that these ratios will decline over the next six to nine months as we repay the short-term debt . we believe our financial strength provides us with the flexibility and capacity to obtain available funds externally through debt or equity financing on both a short-term and long-term basis . our ability to access the capital markets is dependent on , among other things , market conditions and our perceived financial strength . we have accessed both the debt and equity markets from time to time. . Question: what was the percentage change in the consolidated net cash flows used for investing activities \\n from 2009 to 2010
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
0.16803
Context:table of contents hologic , inc . notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) the acquisition also provides for up to two annual earn-out payments not to exceed $ 15000 in the aggregate based on biolucent 2019s achievement of certain revenue targets . the company considered the provision of eitf 95-8 , and concluded that this contingent consideration represents additional purchase price . as a result , goodwill will be increased by the amount of the additional consideration , if any , as it is earned . as of september 26 , 2009 , the company has not recorded any amounts for these potential earn-outs . the allocation of the purchase price was based upon estimates of the fair value of assets acquired and liabilities assumed as of september 18 , 2007 . the components and allocation of the purchase price consisted of the following approximate amounts: . |net tangible assets acquired as of september 18 2007|$ 2800| |developed technology and know how|12300| |customer relationship|17000| |trade name|2800| |deferred income tax liabilities net|-9500 ( 9500 )| |goodwill|47800| |final purchase price|$ 73200| as part of the purchase price allocation , all intangible assets that were a part of the acquisition were identified and valued . it was determined that only customer relationship , trade name and developed technology had separately identifiable values . the fair value of these intangible assets was determined through the application of the income approach . customer relationship represented a large customer base that was expected to purchase the disposable mammopad product on a regular basis . trade name represented the biolucent product name that the company intended to continue to use . developed technology represented currently marketable purchased products that the company continues to sell as well as utilize to enhance and incorporate into the company 2019s existing products . the deferred income tax liability relates to the tax effect of acquired identifiable intangible assets and fair value adjustments to acquired inventory , as such amounts are not deductible for tax purposes , partially offset by acquired net operating loss carryforwards of approximately $ 2400 . 4 . sale of gestiva on january 16 , 2008 , the company entered into a definitive agreement pursuant to which it agreed to sell full u.s . and world-wide rights to gestiva to k-v pharmaceutical company upon approval of the pending gestiva new drug application ( the 201cgestiva nda 201d ) by the fda for a purchase price of $ 82000 . the company received $ 9500 of the purchase price in fiscal 2008 , and the balance is due upon final approval of the gestiva nda by the fda on or before february 19 , 2010 and the production of a quantity of gestiva suitable to enable the commercial launch of the product . either party has the right to terminate the agreement if fda approval is not obtained by february 19 , 2010 . the company agreed to continue its efforts to obtain fda approval of the nda for gestiva as part of this arrangement . all costs incurred in these efforts will be reimbursed by k-v pharmaceutical and are being recorded as a credit against research and development expenses . during fiscal 2009 and 2008 , these reimbursed costs were not material . the company recorded the $ 9500 as a deferred gain within current liabilities in the consolidated balance sheet . the company expects that the gain will be recognized upon the closing of the transaction following final fda approval of the gestiva nda or if the agreement is terminated . the company cannot assure that it will be able to obtain the requisite fda approval , that the transaction will be completed or that it will receive the balance of the purchase price . moreover , if k-v pharmaceutical terminates the agreement as a result of a breach by the company of a material representation , warranty , covenant or agreement , the company will be required to return the funds previously received as well as expenses reimbursed by k-v . source : hologic inc , 10-k , november 24 , 2009 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. . Question: what portion of the final purchase price is related to developed technology?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
2.0
Context:notes to consolidated financial statements ( continued ) note 6 2014shareholders 2019 equity ( continued ) the following table summarizes activity in other comprehensive income related to derivatives , net of taxes , held by the company ( in millions ) : . ||2007|2006|2005| |changes in fair value of derivatives|$ -1 ( 1 )|$ 11|$ 7| |adjustment for net ( losses ) /gains realized and included in net income|-2 ( 2 )|-12 ( 12 )|1| |change in unrealized gains on derivative instruments|$ -3 ( 3 )|$ -1 ( 1 )|$ 8| the tax effect related to the changes in fair value of derivatives was $ 1 million , $ ( 8 ) million , and $ ( 3 ) million for 2007 , 2006 , and 2005 , respectively . the tax effect related to derivative gains/losses reclassified from other comprehensive income to net income was $ 2 million , $ 8 million , and $ ( 2 ) million for 2007 , 2006 , and 2005 , respectively . employee benefit plans 2003 employee stock plan the 2003 employee stock plan ( the 2018 20182003 plan 2019 2019 ) is a shareholder approved plan that provides for broad- based grants to employees , including executive officers . based on the terms of individual option grants , options granted under the 2003 plan generally expire 7 to 10 years after the grant date and generally become exercisable over a period of four years , based on continued employment , with either annual or quarterly vesting . the 2003 plan permits the granting of incentive stock options , nonstatutory stock options , rsus , stock appreciation rights , stock purchase rights and performance-based awards . during 2007 , the company 2019s shareholders approved an amendment to the 2003 plan to increase the number of shares authorized for issuance by 28 million shares . 1997 employee stock option plan in august 1997 , the company 2019s board of directors approved the 1997 employee stock option plan ( the 2018 20181997 plan 2019 2019 ) , a non-shareholder approved plan for grants of stock options to employees who are not officers of the company . based on the terms of individual option grants , options granted under the 1997 plan generally expire 7 to 10 years after the grant date and generally become exercisable over a period of four years , based on continued employment , with either annual or quarterly vesting . in october 2003 , the company terminated the 1997 plan and no new options can be granted from this plan . 1997 director stock option plan in august 1997 , the company 2019s board of directors adopted a director stock option plan ( the 2018 2018director plan 2019 2019 ) for non-employee directors of the company , which was approved by shareholders in 1998 . pursuant to the director plan , the company 2019s non-employee directors are granted an option to acquire 30000 shares of common stock upon their initial election to the board ( 2018 2018initial options 2019 2019 ) . the initial options vest and become exercisable in three equal annual installments on each of the first through third anniversaries of the grant date . on the fourth anniversary of a non-employee director 2019s initial election to the board and on each subsequent anniversary thereafter , the director will be entitled to receive an option to acquire 10000 shares of common stock ( 2018 2018annual options 2019 2019 ) . annual options are fully vested and immediately exercisable on their date of grant . rule 10b5-1 trading plans certain of the company 2019s executive officers , including mr . timothy d . cook , mr . peter oppenheimer , mr . philip w . schiller , and dr . bertrand serlet , have entered into trading plans pursuant to . Question: what was the change in unrealized gains on derivative instruments between 2006 and 2007?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
0.84402
Context:areas exceeding 14.1 million acres ( 5.7 million hectares ) . products and brand designations appearing in italics are trademarks of international paper or a related company . industry segment results industrial packaging demand for industrial packaging products is closely correlated with non-durable industrial goods production , 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 efficiency and product mix . industrial packaging net sales and operating profits include the results of the temple-inland packaging operations from the date of acquisition in february 2012 and the results of the brazil packaging business from the date of acquisition in january 2013 . in addition , due to the acquisition of a majority share of olmuksa international paper sabanci ambalaj sanayi ve ticaret a.s. , ( now called olmuksan international paper or olmuksan ) net sales for our corrugated packaging business in turkey are included in the business segment totals beginning in the first quarter of 2013 and the operating profits reflect a higher ownership percentage than in previous years . net sales for 2013 increased 12% ( 12 % ) to $ 14.8 billion compared with $ 13.3 billion in 2012 , and 42% ( 42 % ) compared with $ 10.4 billion in 2011 . operating profits were 69% ( 69 % ) higher in 2013 than in 2012 and 57% ( 57 % ) higher than in 2011 . excluding costs associated with the acquisition and integration of temple-inland , the divestiture of three containerboard mills and other special items , operating profits in 2013 were 36% ( 36 % ) higher than in 2012 and 59% ( 59 % ) higher than in 2011 . benefits from the net impact of higher average sales price realizations and an unfavorable mix ( $ 749 million ) were offset by lower sales volumes ( $ 73 million ) , higher operating costs ( $ 64 million ) , higher maintenance outage costs ( $ 16 million ) and higher input costs ( $ 102 million ) . additionally , operating profits in 2013 include costs of $ 62 million associated with the integration of temple-inland , a gain of $ 13 million related to a bargain purchase adjustment on the acquisition of a majority share of our operations in turkey , and a net gain of $ 1 million for other items , while operating profits in 2012 included costs of $ 184 million associated with the acquisition and integration of temple-inland , mill divestiture costs of $ 91 million , costs associated with the restructuring of our european packaging business of $ 17 million and a $ 3 million gain for other items . industrial packaging . |in millions|2013|2012|2011| |sales|$ 14810|$ 13280|$ 10430| |operating profit|1801|1066|1147| north american industrial packaging net sales were $ 12.5 billion in 2013 compared with $ 11.6 billion in 2012 and $ 8.6 billion in 2011 . operating profits in 2013 were $ 1.8 billion ( both including and excluding costs associated with the integration of temple-inland and other special items ) compared with $ 1.0 billion ( $ 1.3 billion excluding costs associated with the acquisition and integration of temple-inland and mill divestiture costs ) in 2012 and $ 1.1 billion ( both including and excluding costs associated with signing an agreement to acquire temple-inland ) in 2011 . sales volumes decreased in 2013 compared with 2012 reflecting flat demand for boxes and the impact of commercial decisions . average sales price realizations were significantly higher mainly due to the realization of price increases for domestic containerboard and boxes . input costs were higher for wood , energy and recycled fiber . freight costs also increased . planned maintenance downtime costs were higher than in 2012 . manufacturing operating costs decreased , but were offset by inflation and higher overhead and distribution costs . the business took about 850000 tons of total downtime in 2013 of which about 450000 were market- related and 400000 were maintenance downtime . in 2012 , the business took about 945000 tons of total downtime of which about 580000 were market-related and about 365000 were maintenance downtime . operating profits in 2013 included $ 62 million of costs associated with the integration of temple-inland . operating profits in 2012 included $ 184 million of costs associated with the acquisition and integration of temple-inland and $ 91 million of costs associated with the divestiture of three containerboard mills . looking ahead to 2014 , compared with the fourth quarter of 2013 , sales volumes in the first quarter are expected to increase for boxes due to a higher number of shipping days offset by the impact from the severe winter weather events impacting much of the u.s . input costs are expected to be higher for energy , recycled fiber , wood and starch . planned maintenance downtime spending is expected to be about $ 51 million higher with outages scheduled at six mills compared with four mills in the 2013 fourth quarter . manufacturing operating costs are expected to be lower . however , operating profits will be negatively impacted by the adverse winter weather in the first quarter of 2014 . emea industrial packaging net sales in 2013 include the sales of our packaging operations in turkey which are now fully consolidated . net sales were $ 1.3 billion in 2013 compared with $ 1.0 billion in 2012 and $ 1.1 billion in 2011 . operating profits in 2013 were $ 43 million ( $ 32 . Question: what percentage of industrial packaging sales where represented by north american industrial packaging net sales in 2013?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
yes
Context:the goldman sachs group , inc . and subsidiaries management 2019s discussion and analysis 2030 total aus net inflows/ ( outflows ) for 2014 includes $ 19 billion of fixed income asset inflows in connection with our acquisition of deutsche asset & wealth management 2019s stable value business and $ 6 billion of liquidity products inflows in connection with our acquisition of rbs asset management 2019s money market funds . the table below presents our average monthly assets under supervision by asset class . average for the year ended december $ in billions 2016 2015 2014 . |$ in billions|average for theyear ended december 2016|average for theyear ended december 2015|average for theyear ended december 2014| |alternative investments|$ 149|$ 145|$ 145| |equity|256|247|225| |fixed income|578|530|499| |total long-term assets under supervision|983|922|869| |liquidity products|326|272|248| |total assets under supervision|$ 1309|$ 1194|$ 1117| operating environment . following a challenging first quarter of 2016 , market conditions continued to improve with higher asset prices resulting in full year appreciation in our client assets in both equity and fixed income assets . also , our assets under supervision increased during 2016 from net inflows , primarily in fixed income assets , and liquidity products . the mix of our average assets under supervision shifted slightly compared with 2015 from long- term assets under supervision to liquidity products . management fees have been impacted by many factors , including inflows to advisory services and outflows from actively-managed mutual funds . in the future , if asset prices decline , or investors continue the trend of favoring assets that typically generate lower fees or investors withdraw their assets , net revenues in investment management would likely be negatively impacted . during 2015 , investment management operated in an environment generally characterized by strong client net inflows , which more than offset the declines in equity and fixed income asset prices , which resulted in depreciation in the value of client assets , particularly in the third quarter of 2015 . the mix of average assets under supervision shifted slightly from long-term assets under supervision to liquidity products compared with 2014 . 2016 versus 2015 . net revenues in investment management were $ 5.79 billion for 2016 , 7% ( 7 % ) lower than 2015 . this decrease primarily reflected significantly lower incentive fees compared with a strong 2015 . in addition , management and other fees were slightly lower , reflecting shifts in the mix of client assets and strategies , partially offset by the impact of higher average assets under supervision . during the year , total assets under supervision increased $ 127 billion to $ 1.38 trillion . long-term assets under supervision increased $ 75 billion , including net inflows of $ 42 billion , primarily in fixed income assets , and net market appreciation of $ 33 billion , primarily in equity and fixed income assets . in addition , liquidity products increased $ 52 billion . operating expenses were $ 4.65 billion for 2016 , 4% ( 4 % ) lower than 2015 , due to decreased compensation and benefits expenses , reflecting lower net revenues . pre-tax earnings were $ 1.13 billion in 2016 , 17% ( 17 % ) lower than 2015 . 2015 versus 2014 . net revenues in investment management were $ 6.21 billion for 2015 , 3% ( 3 % ) higher than 2014 , due to slightly higher management and other fees , primarily reflecting higher average assets under supervision , and higher transaction revenues . during 2015 , total assets under supervision increased $ 74 billion to $ 1.25 trillion . long-term assets under supervision increased $ 51 billion , including net inflows of $ 71 billion ( which includes $ 18 billion of asset inflows in connection with our acquisition of pacific global advisors 2019 solutions business ) , and net market depreciation of $ 20 billion , both primarily in fixed income and equity assets . in addition , liquidity products increased $ 23 billion . operating expenses were $ 4.84 billion for 2015 , 4% ( 4 % ) higher than 2014 , due to increased compensation and benefits expenses , reflecting higher net revenues . pre-tax earnings were $ 1.37 billion in 2015 , 2% ( 2 % ) lower than 2014 . geographic data see note 25 to the consolidated financial statements for a summary of our total net revenues , pre-tax earnings and net earnings by geographic region . goldman sachs 2016 form 10-k 65 . Question: of the total aus net inflows/ ( outflows ) for 2014 were fixed income asset inflows in connection with our acquisition of deutsche asset & wealth management 2019s stable value business greater than the liquidity products inflows in connection with our acquisition of rbs asset management 2019s money market funds?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
0.57478
Context:synopsys , inc . notes to consolidated financial statements 2014continued acquisition of magma design automation , inc . ( magma ) on february 22 , 2012 , the company acquired all outstanding shares of magma , a chip design software provider , at a per-share price of $ 7.35 . additionally , the company assumed unvested restricted stock units ( rsus ) and stock options , collectively called 201cequity awards . 201d the aggregate purchase price was approximately $ 550.2 million . this acquisition enables the company to more rapidly meet the needs of leading-edge semiconductor designers for more sophisticated design tools . as of october 31 , 2012 , the total purchase consideration and the preliminary purchase price allocation were as follows: . ||( in thousands )| |cash paid|$ 543437| |fair value of assumed equity awards allocated to purchase consideration|6797| |total purchase consideration|$ 550234| |goodwill|316263| |identifiable intangibles assets acquired|184300| |cash and other assets acquired|116265| |debt and liabilities assumed|-66594 ( 66594 )| |total purchase allocation|$ 550234| goodwill of $ 316.3 million , which is not deductible for tax purposes , primarily resulted from the company 2019s expectation of sales growth and cost synergies from the integration of magma 2019s technology and operations with the company 2019s technology and operations . identifiable intangible assets , consisting primarily of technology , customer relationships , backlog and trademarks , were valued using the income method , and are being amortized over three to ten years . acquisition-related costs directly attributable to the business combination totaling $ 33.5 million for fiscal 2012 were expensed as incurred in the consolidated statements of operations and consist primarily of employee separation costs , contract terminations , professional services , and facilities closure costs . fair value of equity awards assumed . the company assumed unvested restricted stock units ( rsus ) and stock options with a fair value of $ 22.2 million . the black-scholes option-pricing model was used to determine the fair value of these stock options , whereas the fair value of the rsus was based on the market price on the grant date of the instruments . the black-scholes option-pricing model incorporates various subjective assumptions including expected volatility , expected term and risk-free interest rates . the expected volatility was estimated by a combination of implied and historical stock price volatility of the options . of the total fair value of the equity awards assumed , $ 6.8 million was allocated to the purchase consideration and $ 15.4 million was allocated to future services to be expensed over their remaining service periods on a straight-line basis . supplemental pro forma information ( unaudited ) . the financial information in the table below summarizes the combined results of operations of the company and magma , on a pro forma basis , as though the companies had been combined as of the beginning of fiscal 2011. . Question: what percentage of total purchase allocation was goodwill?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
-0.08052
Context:costs . our 2012 results were lower than 2011 when we realized $ 53.1 million in premium-services margins and our storage and marketing margins consisted of $ 96.0 million from realized seasonal price differentials and marketing optimization activities , and $ 87.7 million of storage demand costs . in addition , we recognized a loss on the change in fair value of our nonqualifiying economic storage hedges of $ 1.0 million in 2012 compared with a gain of $ 8.5 million in 2011 . our premium services were impacted negatively by lower natural gas prices and decreased natural gas price volatility . the impact of our hedge strategies and the inability to hedge seasonal price differentials at levels that were available to us in the prior year significantly reduced our storage margins . we also experienced reduced opportunities to optimize our storage assets , which negatively impacted our marketing margins . we realized a loss in our transportation margins of $ 42.4 million in 2012 compared with a loss of $ 18.8 million in 2011 , due primarily to a $ 29.5 million decrease in transportation hedges . our transportation business continues to be impacted by narrow price location differentials and the inability to hedge at levels that were available to us in prior years . as a result of significant increases in the supply of natural gas , primarily from shale gas production across north america and new pipeline infrastructure projects , location and seasonal price differentials narrowed significantly beginning in 2010 and continuing through 2012 . this market change resulted in our transportation contracts being unprofitable impacting our ability to recover our fixed costs . operating costs decreased due primarily to lower employee-related expenses , which includes the impact of fewer employees . we also recognized an expense of $ 10.3 million related to the impairment of our goodwill in the first quarter 2012 . given the significant decline in natural gas prices and its effect on location and seasonal price differentials , we performed an interim impairment assessment in the first quarter 2012 that reduced our goodwill balance to zero . 2011 vs . 2010 - the factors discussed in energy services 2019 201cnarrative description of the business 201d included in item i , business , of this annual report have led to a significant decrease in net margin , including : 2022 a decrease of $ 65.3 million in transportation margins , net of hedging , due primarily to narrower location price differentials and lower hedge settlements in 2011 ; 2022 a decrease of $ 34.3 million in storage and marketing margins , net of hedging activities , due primarily to the following : 2013 lower realized seasonal storage price differentials ; offset partially by 2013 favorable marketing activity and unrealized fair value changes on nonqualifying economic storage hedges ; 2022 a decrease of $ 7.3 million in premium-services margins , associated primarily with the reduction in the value of the fees collected for these services as a result of low commodity prices and reduced natural gas price volatility in the first quarter 2011 compared with the first quarter 2010 ; and 2022 a decrease of $ 4.3 million in financial trading margins , as low natural gas prices and reduced natural gas price volatility limited our financial trading opportunities . additionally , our 2011 net margin includes $ 91.1 million in adjustments to natural gas inventory reflecting the lower of cost or market value . because of the adjustments to our inventory value , we reclassified $ 91.1 million of deferred gains on associated cash flow hedges into earnings . operating costs decreased due primarily to a decrease in ad valorem taxes . selected operating information - the following table sets forth certain selected operating information for our energy services segment for the periods indicated: . |operating information|years ended december 31 , 2012|years ended december 31 , 2011|years ended december 31 , 2010| |natural gas marketed ( bcf )|709|845|919| |natural gas gross margin ( $ /mcf )|$ -0.07 ( 0.07 )|$ 0.06|$ 0.18| |physically settled volumes ( bcf )|1433|1724|1874| natural gas volumes marketed and physically settled volumes decreased in 2012 compared with 2011 due primarily to decreased marketing activities , lower transported volumes and reduced transportation capacity . the decrease in 2011 compared with 2010 was due primarily to lower volumes transported and reduced transportation capacity . transportation capacity in certain markets was not utilized due to the economics of the location price differentials as a result of increased supply of natural gas , primarily from shale production , and increased pipeline capacity as a result of new pipeline construction. . Question: what was the percentage difference in natural gas marketed ( bcf ) between 2010 and 2011?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
0.15116
Context:during the year ended december 31 , 2011 , we granted 354660 performance share units having a fair value based on our grant date closing stock price of $ 28.79 . these units are payable in stock and are subject to certain financial performance criteria . the fair value of these performance share unit awards is based on the grant date closing stock price of each respective award grant and will apply to the number of units ultimately awarded . the number of shares ultimately issued for each award will be based on our financial performance as compared to peer group companies over the performance period and can range from zero to 200% ( 200 % ) . as of december 31 , 2011 , estimated share payouts for outstanding non-vested performance share unit awards ranged from 150% ( 150 % ) to 195% ( 195 % ) . for the legacy frontier performance share units assumed at july 1 , 2011 , performance is based on market performance criteria , which is calculated as the total shareholder return achieved by hollyfrontier stockholders compared with the average shareholder return achieved by an equally-weighted peer group of independent refining companies over a three-year period . these share unit awards are payable in stock based on share price performance relative to the defined peer group and can range from zero to 125% ( 125 % ) of the initial target award . these performance share units were valued at july 1 , 2011 using a monte carlo valuation model , which simulates future stock price movements using key inputs including grant date and measurement date stock prices , expected stock price performance , expected rate of return and volatility of our stock price relative to the peer group over the three-year performance period . the fair value of these performance share units at july 1 , 2011 was $ 8.6 million . of this amount , $ 7.3 million relates to post-merger services and will be recognized ratably over the remaining service period through 2013 . a summary of performance share unit activity and changes during the year ended december 31 , 2011 is presented below: . |performance share units|grants| |outstanding at january 1 2011 ( non-vested )|556186| |granted ( 1 )|354660| |vesting and transfer of ownership to recipients|-136058 ( 136058 )| |outstanding at december 31 2011 ( non-vested )|774788| ( 1 ) includes 225116 non-vested performance share grants under the legacy frontier plan that were outstanding and retained by hollyfrontier at july 1 , 2011 . for the year ended december 31 , 2011 we issued 178148 shares of our common stock having a fair value of $ 2.6 million related to vested performance share units . based on the weighted average grant date fair value of $ 20.71 there was $ 11.7 million of total unrecognized compensation cost related to non-vested performance share units . that cost is expected to be recognized over a weighted-average period of 1.1 years . note 7 : cash and cash equivalents and investments in marketable securities our investment portfolio at december 31 , 2011 consisted of cash , cash equivalents and investments in debt securities primarily issued by government and municipal entities . we also hold 1000000 shares of connacher oil and gas limited common stock that was received as partial consideration upon the sale of our montana refinery in we invest in highly-rated marketable debt securities , primarily issued by government and municipal entities that have maturities at the date of purchase of greater than three months . we also invest in other marketable debt securities with the maximum maturity or put date of any individual issue generally not greater than two years from the date of purchase . all of these instruments , including investments in equity securities , are classified as available- for-sale . as a result , they are reported at fair value using quoted market prices . interest income is recorded as earned . unrealized gains and losses , net of related income taxes , are reported as a component of accumulated other comprehensive income . upon sale , realized gains and losses on the sale of marketable securities are computed based on the specific identification of the underlying cost of the securities sold and the unrealized gains and losses previously reported in other comprehensive income are reclassified to current earnings. . Question: what percentage of july 2011 performance shares does not relate to post-merger services?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
0.36805
Context:devon energy corporation and subsidiaries notes to consolidated financial statements 2013 ( continued ) proved undeveloped reserves the following table presents the changes in devon 2019s total proved undeveloped reserves during 2014 ( in mmboe ) . . ||u.s .|canada|total| |proved undeveloped reserves as of december 31 2013|258|443|701| |extensions and discoveries|153|8|161| |revisions due to prices|-1 ( 1 )|-34 ( 34 )|-35 ( 35 )| |revisions other than price|-61 ( 61 )|18|-43 ( 43 )| |sale of reserves|-4 ( 4 )|-2 ( 2 )|-6 ( 6 )| |conversion to proved developed reserves|-40 ( 40 )|-49 ( 49 )|-89 ( 89 )| |proved undeveloped reserves as of december 31 2014|305|384|689| at december 31 , 2014 , devon had 689 mmboe of proved undeveloped reserves . this represents a 2 percent decrease as compared to 2013 and represents 25 percent of total proved reserves . drilling and development activities increased devon 2019s proved undeveloped reserves 161 mmboe and resulted in the conversion of 89 mmboe , or 13 percent , of the 2013 proved undeveloped reserves to proved developed reserves . costs incurred related to the development and conversion of devon 2019s proved undeveloped reserves were approximately $ 1.0 billion for 2014 . additionally , revisions other than price decreased devon 2019s proved undeveloped reserves 43 mmboe primarily due to evaluations of certain u.s . onshore dry-gas areas , which devon does not expect to develop in the next five years . the largest revisions , which were approximately 69 mmboe , relate to the dry-gas areas in the barnett shale in north texas . a significant amount of devon 2019s proved undeveloped reserves at the end of 2014 related to its jackfish operations . at december 31 , 2014 and 2013 , devon 2019s jackfish proved undeveloped reserves were 384 mmboe and 441 mmboe , respectively . development schedules for the jackfish reserves are primarily controlled by the need to keep the processing plants at their 35000 barrel daily facility capacity . processing plant capacity is controlled by factors such as total steam processing capacity and steam-oil ratios . furthermore , development of these projects involves the up-front construction of steam injection/distribution and bitumen processing facilities . due to the large up-front capital investments and large reserves required to provide economic returns , the project conditions meet the specific circumstances requiring a period greater than 5 years for conversion to developed reserves . as a result , these reserves are classified as proved undeveloped for more than five years . currently , the development schedule for these reserves extends though the year 2031 . price revisions 2014 2013 reserves increased 9 mmboe primarily due to higher gas prices in the barnett shale and the anadarko basin , partially offset by higher bitumen prices , which result in lower after-royalty volumes , in canada . 2013 2013 reserves increased 94 mmboe primarily due to higher gas prices . of this increase , 43 mmboe related to the barnett shale and 19 mmboe related to the rocky mountain area . 2012 2013 reserves decreased 171 mmboe primarily due to lower gas prices . of this decrease , 100 mmboe related to the barnett shale and 25 mmboe related to the rocky mountain area. . Question: as of december 31 2013 what was the percentage of the proved undeveloped reserves in the us
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
58.5
Context:issuer purchases of equity securities the following table provides information about our repurchases of common stock during the three-month period ended december 31 , 2012 . period total number of shares purchased average price paid per total number of shares purchased as part of publicly announced program ( a ) amount available for future share repurchases the program ( b ) ( in millions ) . |period|total number of shares purchased|average price paid per share|total number of shares purchased as part of publicly announced program ( a )|amount available for future share repurchases under the program ( b ) ( in millions )| |october 1 2012 2013 october 28 2012|842445|$ 93.38|842445|$ 2522| |october 29 2012 2013 november 25 2012|872973|90.86|872973|2443| |november 26 2012 2013 december 31 2012|1395288|92.02|1395288|2315| |total|3110706|$ 92.07|3110706|$ 2315| ( a ) we repurchased a total of 3.1 million shares of our common stock for $ 286 million during the quarter ended december 31 , 2012 under a share repurchase program that we announced in october 2010 . ( b ) our board of directors has approved a share repurchase program for the repurchase of our common stock from time-to-time , authorizing an amount available for share repurchases of $ 6.5 billion . under the program , management has discretion to determine the dollar amount of shares to be repurchased and the timing of any repurchases in compliance with applicable law and regulation . the program does not have an expiration date . as of december 31 , 2012 , we had repurchased a total of 54.3 million shares under the program for $ 4.2 billion. . Question: as of december 31 , 2012 , what was the year to date percent of the share repurchase under the program for $ 4.2 billion..\\n
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
-0.09091
Context:22 general mills 2014 annual report 23 gross margin declined 1 percent in fiscal 2014 versus fiscal 2013 . gross margin as a percent of net sales of 36 percent was relatively flat compared to fiscal 2013 . selling , general and administrative ( sg&a ) expenses decreased $ 78 million in fiscal 2014 versus fiscal 2013 . the decrease in sg&a expenses was primarily driven by a 3 percent decrease in advertising and media expense , a smaller contribution to the general mills foundation , a decrease in incentive compensation expense and lower pension expense compared to fiscal 2013 . in fiscal 2014 , we recorded a $ 39 million charge related to venezuela currency devaluation compared to a $ 9 million charge in fiscal 2013 . in addition , we recorded $ 12 million of inte- gration costs in fiscal 2013 related to our acquisition of yoki . sg&a expenses as a percent of net sales decreased 1 percent compared to fiscal 2013 . restructuring , impairment , and other exit costs totaled $ 4 million in fiscal 2014 . the restructuring charge related to a productivity and cost savings plan approved in the fourth quarter of fiscal 2012 . these restructuring actions were completed in fiscal 2014 . in fiscal 2014 , we paid $ 22 million in cash related to restructuring actions . during fiscal 2014 , we recorded a divestiture gain of $ 66 million related to the sale of certain grain elevators in our u.s . retail segment . there were no divestitures in fiscal 2013 . interest , net for fiscal 2014 totaled $ 302 million , $ 15 million lower than fiscal 2013 . the average interest rate decreased 41 basis points , including the effect of the mix of debt , generating a $ 31 million decrease in net interest . average interest bearing instruments increased $ 367 million , generating a $ 16 million increase in net interest . our consolidated effective tax rate for fiscal 2014 was 33.3 percent compared to 29.2 percent in fiscal 2013 . the 4.1 percentage point increase was primarily related to the restructuring of our general mills cereals , llc ( gmc ) subsidiary during the first quarter of 2013 which resulted in a $ 63 million decrease to deferred income tax liabilities related to the tax basis of the investment in gmc and certain distributed assets , with a correspond- ing non-cash reduction to income taxes . during fiscal 2013 , we also recorded a $ 34 million discrete decrease in income tax expense and an increase in our deferred tax assets related to certain actions taken to restore part of the tax benefits associated with medicare part d subsidies which had previously been reduced in fiscal 2010 with the enactment of the patient protection and affordable care act , as amended by the health care and education reconciliation act of 2010 . our fiscal 2013 tax expense also includes a $ 12 million charge associated with the liquidation of a corporate investment . after-tax earnings from joint ventures for fiscal 2014 decreased to $ 90 million compared to $ 99 million in fiscal 2013 primarily driven by increased consumer spending at cereal partners worldwide ( cpw ) and unfavorable foreign currency exchange from h e4agen- dazs japan , inc . ( hdj ) . the change in net sales for each joint venture is set forth in the following table : joint venture change in net sales as reported constant currency basis fiscal 2014 fiscal 2014 vs . 2013 vs . 2013 cpw ( 1 ) % ( % ) flat . |cpw|as reported fiscal 2014 vs . 2013 ( 1 ) % ( % )|constant currency basis fiscal 2014 vs . 2013 flat|| |hdj|-8 ( 8 )|9|% ( % )| |joint ventures|( 2 ) % ( % )|2|% ( % )| in fiscal 2014 , cpw net sales declined by 1 percent- age point due to unfavorable foreign currency exchange . contribution from volume growth was flat compared to fiscal 2013 . in fiscal 2014 , net sales for hdj decreased 8 percentage points from fiscal 2013 as 11 percentage points of contributions from volume growth was offset by 17 percentage points of net sales decline from unfa- vorable foreign currency exchange and 2 percentage points of net sales decline attributable to unfavorable net price realization and mix . average diluted shares outstanding decreased by 20 million in fiscal 2014 from fiscal 2013 due primar- ily to the repurchase of 36 million shares , partially offset by the issuance of 7 million shares related to stock compensation plans . fiscal 2014 consolidated balance sheet analysis cash and cash equivalents increased $ 126 million from fiscal 2013 . receivables increased $ 37 million from fiscal 2013 pri- marily driven by timing of sales . inventories increased $ 14 million from fiscal 2013 . prepaid expenses and other current assets decreased $ 29 million from fiscal 2013 , mainly due to a decrease in other receivables related to the liquidation of a corporate investment . land , buildings , and equipment increased $ 64 million from fiscal 2013 , as $ 664 million of capital expenditures . Question: what was the percent of the reduction in the after-tax earnings from joint ventures primarily driven by increased consumer spending at cereal partners worldwide ( cpw ) and unfavorable foreign currency exchange from h e4agen- dazs japan , inc . from 2012 to 2013
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
1.13692
Context:mastercard incorporated notes to consolidated financial statements 2014 ( continued ) ( in thousands , except percent and per share data ) the company does not make any contributions to its postretirement plan other than funding benefits payments . the following table summarizes expected net benefit payments from the company 2019s general assets through 2018 : benefit payments expected subsidy receipts benefit payments . ||benefit payments|expected subsidy receipts|net benefit payments| |2009|$ 2641|$ 77|$ 2564| |2010|3139|91|3048| |2011|3561|115|3446| |2012|3994|140|3854| |2013|4357|169|4188| |2014 2013 2018|25807|1269|24538| the company provides limited postemployment benefits to eligible former u.s . employees , primarily severance under a formal severance plan ( the 201cseverance plan 201d ) . the company accounts for severance expense in accordance with sfas no . 112 , 201cemployers 2019 accounting for postemployment benefits 201d by accruing the expected cost of the severance benefits expected to be provided to former employees after employment over their relevant service periods . the company updates the assumptions in determining the severance accrual by evaluating the actual severance activity and long-term trends underlying the assumptions . as a result of updating the assumptions , the company recorded severance expense ( benefit ) related to the severance plan of $ 2643 , $ ( 3418 ) and $ 8400 , respectively , during the years 2008 , 2007 and 2006 . the company has an accrued liability related to the severance plan and other severance obligations in the amount of $ 63863 and $ 56172 at december 31 , 2008 and 2007 , respectively . note 13 . debt on april 28 , 2008 , the company extended its committed unsecured revolving credit facility , dated as of april 28 , 2006 ( the 201ccredit facility 201d ) , for an additional year . the new expiration date of the credit facility is april 26 , 2011 . the available funding under the credit facility will remain at $ 2500000 through april 27 , 2010 and then decrease to $ 2000000 during the final year of the credit facility agreement . other terms and conditions in the credit facility remain unchanged . the company 2019s option to request that each lender under the credit facility extend its commitment was provided pursuant to the original terms of the credit facility agreement . borrowings under the facility are available to provide liquidity in the event of one or more settlement failures by mastercard international customers and , subject to a limit of $ 500000 , for general corporate purposes . a facility fee of 8 basis points on the total commitment , or approximately $ 2030 , is paid annually . interest on borrowings under the credit facility would be charged at the london interbank offered rate ( libor ) plus an applicable margin of 37 basis points or an alternative base rate , and a utilization fee of 10 basis points would be charged if outstanding borrowings under the facility exceed 50% ( 50 % ) of commitments . the facility fee and borrowing cost are contingent upon the company 2019s credit rating . the company also agreed to pay upfront fees of $ 1250 and administrative fees of $ 325 for the credit facility which are being amortized straight- line over three years . facility and other fees associated with the credit facility or prior facilities totaled $ 2353 , $ 2477 and $ 2717 for each of the years ended december 31 , 2008 , 2007 and 2006 , respectively . mastercard was in compliance with the covenants of the credit facility and had no borrowings under the credit facility at december 31 , 2008 or december 31 , 2007 . the majority of credit facility lenders are customers or affiliates of customers of mastercard international . in june 1998 , mastercard international issued ten-year unsecured , subordinated notes ( the 201cnotes 201d ) paying a fixed interest rate of 6.67% ( 6.67 % ) per annum . mastercard repaid the entire principal amount of $ 80000 on june 30 . Question: what was the ratio of the accrued liability accrued liability related to the severance plan in 2008 to 2007
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
0.26584
Context: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 ( continued ) ace limited and subsidiaries 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 2009 , 2008 , and 2007 . the amount of dividends available to be paid in 2010 , without prior approval from the state insurance departments , totals $ 733 million . the combined statutory capital and surplus and statutory net income of the bermuda and u.s . subsidiaries as at and for the years ended december 31 , 2009 , 2008 , and 2007 , are as follows: . |( in millions of u.s . dollars )|bermuda subsidiaries 2009|bermuda subsidiaries 2008|bermuda subsidiaries 2007|bermuda subsidiaries 2009|bermuda subsidiaries 2008|2007| |statutory capital and surplus|$ 9299|$ 6205|$ 8579|$ 5801|$ 5368|$ 5321| |statutory net income|$ 2472|$ 2196|$ 1535|$ 870|$ 818|$ 873| 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 $ 215 million , $ 211 million , and $ 140 million at december 31 , 2009 , 2008 , and 2007 , 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 . 21 . information provided in connection with outstanding debt of subsidiaries the following tables present condensed consolidating financial information at december 31 , 2009 , and december 31 , 2008 , and for the years ended december 31 , 2009 , 2008 , and 2007 , for ace limited ( the parent guarantor ) and its 201csubsidiary issuer 201d , ace ina holdings , inc . the subsidiary issuer is an indirect 100 percent-owned subsidiary of the parent guarantor . investments in subsidiaries are accounted for by the parent guarantor under the equity method for purposes of the supplemental consolidating presentation . earnings of subsidiaries are reflected in the parent guarantor 2019s investment accounts and earnings . the parent guarantor fully and unconditionally guarantees certain of the debt of the subsidiary issuer. . Question: what is the income to capital ratio for bermuda subsidiaries in 2009?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
-0.23529
Context:until the hedged transaction is recognized in earnings . changes in the fair value of the derivatives that are attributable to the ineffective portion of the hedges , or of derivatives that are not considered to be highly effective hedges , if any , are immediately recognized in earnings . the aggregate notional amount of our outstanding foreign currency hedges at december 31 , 2012 and 2011 was $ 1.3 billion and $ 1.7 billion . the aggregate notional amount of our outstanding interest rate swaps at december 31 , 2012 and 2011 was $ 503 million and $ 450 million . derivative instruments did not have a material impact on net earnings and comprehensive income during 2012 , 2011 , and 2010 . substantially all of our derivatives are designated for hedge accounting . see note 15 for more information on the fair value measurements related to our derivative instruments . stock-based compensation 2013 compensation cost related to all share-based payments including stock options and restricted stock units is measured at the grant date based on the estimated fair value of the award . we generally recognize the compensation cost ratably over a three-year vesting period . income taxes 2013 we periodically assess our tax filing exposures related to periods that are open to examination . based on the latest available information , we evaluate our tax positions to determine whether the position will more likely than not be sustained upon examination by the internal revenue service ( irs ) . if we cannot reach a more-likely-than-not determination , no benefit is recorded . if we determine that the tax position is more likely than not to be sustained , we record the largest amount of benefit that is more likely than not to be realized when the tax position is settled . we record interest and penalties related to income taxes as a component of income tax expense on our statements of earnings . interest and penalties are not material . accumulated other comprehensive loss 2013 changes in the balance of accumulated other comprehensive loss , net of income taxes , consisted of the following ( in millions ) : postretirement benefit plan adjustments other , net accumulated comprehensive . ||postretirement benefit plan adjustments|other net|accumulated other comprehensive loss| |balance at january 1 2010|$ -8564 ( 8564 )|$ -31 ( 31 )|$ -8595 ( 8595 )| |other comprehensive ( loss ) income|-430 ( 430 )|15|-415 ( 415 )| |balance at december 31 2010|-8994 ( 8994 )|-16 ( 16 )|-9010 ( 9010 )| |other comprehensive loss|-2192 ( 2192 )|-55 ( 55 )|-2247 ( 2247 )| |balance at december 31 2011|-11186 ( 11186 )|-71 ( 71 )|-11257 ( 11257 )| |other comprehensive ( loss ) income|-2346 ( 2346 )|110|-2236 ( 2236 )| |balance at december 31 2012|$ -13532 ( 13532 )|$ 39|$ -13493 ( 13493 )| the postretirement benefit plan adjustments are shown net of tax benefits at december 31 , 2012 , 2011 , and 2010 of $ 7.4 billion , $ 6.1 billion , and $ 4.9 billion . these tax benefits include amounts recognized on our income tax returns as current deductions and deferred income taxes , which will be recognized on our tax returns in future years . see note 7 and note 9 for more information on our income taxes and postretirement plans . recent accounting pronouncements 2013 effective january 1 , 2012 , we retrospectively adopted new guidance issued by the financial accounting standards board by presenting total comprehensive income and the components of net income and other comprehensive loss in two separate but consecutive statements . the adoption of this guidance resulted only in a change in how we present other comprehensive loss in our consolidated financial statements and did not have any impact on our results of operations , financial position , or cash flows. . Question: what is the percentage change in aggregate notional amount of outstanding foreign currency hedges from 2011 to 2012?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
0.565
Context:system energy may refinance , redeem , or otherwise retire debt prior to maturity , to the extent market conditions and interest and dividend rates are favorable . all debt and common stock issuances by system energy require prior regulatory approval . a0 a0debt issuances are also subject to issuance tests set forth in its bond indentures and other agreements . a0 a0system energy has sufficient capacity under these tests to meet its foreseeable capital needs . system energy 2019s receivables from the money pool were as follows as of december 31 for each of the following years. . |2017|2016|2015|2014| |( in thousands )|( in thousands )|( in thousands )|( in thousands )| |$ 111667|$ 33809|$ 39926|$ 2373| see note 4 to the financial statements for a description of the money pool . the system energy nuclear fuel company variable interest entity has a credit facility in the amount of $ 120 million scheduled to expire in may 2019 . as of december 31 , 2017 , $ 17.8 million in letters of credit to support a like amount of commercial paper issued and $ 50 million in loans were outstanding under the system energy nuclear fuel company variable interest entity credit facility . see note 4 to the financial statements for additional discussion of the variable interest entity credit facility . system energy obtained authorizations from the ferc through october 2019 for the following : 2022 short-term borrowings not to exceed an aggregate amount of $ 200 million at any time outstanding ; 2022 long-term borrowings and security issuances ; and 2022 long-term borrowings by its nuclear fuel company variable interest entity . see note 4 to the financial statements for further discussion of system energy 2019s short-term borrowing limits . system energy resources , inc . management 2019s financial discussion and analysis federal regulation see the 201crate , cost-recovery , and other regulation 2013 federal regulation 201d section of entergy corporation and subsidiaries management 2019s financial discussion and analysis and note 2 to the financial statements for a discussion of federal regulation . complaint against system energy in january 2017 the apsc and mpsc filed a complaint with the ferc against system energy . the complaint seeks a reduction in the return on equity component of the unit power sales agreement pursuant to which system energy sells its grand gulf capacity and energy to entergy arkansas , entergy louisiana , entergy mississippi , and entergy new orleans . entergy arkansas also sells some of its grand gulf capacity and energy to entergy louisiana , entergy mississippi , and entergy new orleans under separate agreements . the current return on equity under the unit power sales agreement is 10.94% ( 10.94 % ) . the complaint alleges that the return on equity is unjust and unreasonable because current capital market and other considerations indicate that it is excessive . the complaint requests the ferc to institute proceedings to investigate the return on equity and establish a lower return on equity , and also requests that the ferc establish january 23 , 2017 as a refund effective date . the complaint includes return on equity analysis that purports to establish that the range of reasonable return on equity for system energy is between 8.37% ( 8.37 % ) and 8.67% ( 8.67 % ) . system energy answered the complaint in february 2017 and disputes that a return on equity of 8.37% ( 8.37 % ) to 8.67% ( 8.67 % ) is just and reasonable . the lpsc and the city council intervened in the proceeding expressing support for the complaint . system energy is recording a provision against revenue for the potential outcome of this proceeding . in september 2017 the ferc established a refund effective date of january 23 , 2017 , consolidated the return on equity complaint with the proceeding described in unit power sales agreement below , and directed the parties to engage in settlement . Question: as of december 31 , 2017 what was the percent of the system energy credit facility utilization
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
23.3
Context:entergy new orleans , inc . and subsidiaries management 2019s financial discussion and analysis results of operations net income 2016 compared to 2015 net income increased $ 3.9 million primarily due to higher net revenue , partially offset by higher depreciation and amortization expenses , higher interest expense , and lower other income . 2015 compared to 2014 net income increased $ 13.9 million primarily due to lower other operation and maintenance expenses and higher net revenue , partially offset by a higher effective income tax rate . net revenue 2016 compared to 2015 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges . following is an analysis of the change in net revenue comparing 2016 to 2015 . amount ( in millions ) . ||amount ( in millions )| |2015 net revenue|$ 293.9| |retail electric price|39.0| |net gas revenue|-2.5 ( 2.5 )| |volume/weather|-5.1 ( 5.1 )| |other|-8.1 ( 8.1 )| |2016 net revenue|$ 317.2| the retail electric price variance is primarily due to an increase in the purchased power and capacity acquisition cost recovery rider , as approved by the city council , effective with the first billing cycle of march 2016 , primarily related to the purchase of power block 1 of the union power station . see note 14 to the financial statements for discussion of the union power station purchase . the net gas revenue variance is primarily due to the effect of less favorable weather on residential and commercial sales . the volume/weather variance is primarily due to a decrease of 112 gwh , or 2% ( 2 % ) , in billed electricity usage , partially offset by the effect of favorable weather on commercial sales and a 2% ( 2 % ) increase in the average number of electric customers. . Question: what is the net change in net revenue during 2016 for entergy new orleans , inc?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
-0.67247
Context:31 , 2015 , the price was r$ 218/mwh . after the expiration of contract with eletropaulo , tiet ea's strategy is to contract most of its physical guarantee , as described in regulatory framework section below , and sell the remaining portion in the spot market . tiet ea's strategy is reassessed from time to time according to changes in market conditions , hydrology and other factors . tiet ea has been continuously selling its available energy from 2016 forward through medium-term bilateral contracts of three to five years . as of december 31 , 2016 , tiet ea's contracted portfolio position is 95% ( 95 % ) and 88% ( 88 % ) with average prices of r$ 157/ mwh and r$ 159/mwh ( inflation adjusted until december 2016 ) for 2016 and 2017 , respectively . as brazil is mostly a hydro-based country with energy prices highly tied to the hydrological situation , the deterioration of the hydrology since the beginning of 2014 caused an increase in energy prices going forward . tiet ea is closely monitoring and analyzing system supply conditions to support energy commercialization decisions . under the concession agreement , tiet ea has an obligation to increase its capacity by 15% ( 15 % ) . tiet ea , as well as other concession generators , have not yet met this requirement due to regulatory , environmental , hydrological and fuel constraints . the state of s e3o paulo does not have a sufficient potential for wind power and only has a small remaining potential for hydro projects . as such , the capacity increases in the state will mostly be derived from thermal gas capacity projects . due to the highly complex process to obtain an environmental license for coal projects , tiet ea decided to fulfill its obligation with gas-fired projects in line with the federal government plans . petrobras refuses to supply natural gas and to offer capacity in its pipelines and regasification terminals . therefore , there are no regulations for natural gas swaps in place , and it is unfeasible to bring natural gas to aes tiet ea . a legal case has been initiated by the state of s e3o paulo requiring the investment to be performed . tiet ea is in the process of analyzing options to meet the obligation . uruguaiana is a 640 mw gas-fired combined cycle power plant located in the town of uruguaiana in the state of rio grande do sul , commissioned in december 2000 . aes manages and has a 46% ( 46 % ) economic interest in the plant with the remaining interest held by bndes . the plant's operations were suspended in april 2009 due to the unavailability of gas . aes has evaluated several alternatives to bring gas supply on a competitive basis to uruguaiana . one of the challenges is the capacity restrictions on the argentinean pipeline , especially during the winter season when gas demand in argentina is very high . the plant operated on a short-term basis during february and march 2013 , march through may 2014 , and february through may 2015 due to the short-term supply of lng for the facility . the plant did not operate in 2016 . uruguaiana continues to work toward securing gas on a long-term basis . market structure 2014 brazil has installed capacity of 150136 mw , which is 65% ( 65 % ) hydroelectric , 19% ( 19 % ) thermal and 16% ( 16 % ) renewable ( biomass and wind ) . brazil's national grid is divided into four subsystems . tiet ea is in the southeast and uruguaiana is in the south subsystems of the national grid . regulatory framework 2014 in brazil , the ministry of mines and energy determines the maximum amount of energy that a plant can sell , called physical guarantee , which represents the long-term average expected energy production of the plant . under current rules , physical guarantee can be sold to distribution companies through long- term regulated auctions or under unregulated bilateral contracts with large consumers or energy trading companies . the national system operator ( "ons" ) is responsible for coordinating and controlling the operation of the national grid . the ons dispatches generators based on hydrological conditions , reservoir levels , electricity demand and the prices of fuel and thermal generation . given the importance of hydro generation in the country , the ons sometimes reduces dispatch of hydro facilities and increases dispatch of thermal facilities to protect reservoir levels in the system . in brazil , the system operator controls all hydroelectric generation dispatch and reservoir levels . a mechanism known as the energy reallocation mechanism ( "mre" ) was created to share hydrological risk across mre hydro generators . if the hydro plants generate less than the total mre physical guarantee , the hydro generators may need to purchase energy in the short-term market to fulfill their contract obligations . when total hydro generation is higher than the total mre physical guarantee , the surplus is proportionally shared among its participants and they are able to make extra revenue selling the excess energy on the spot market . the consequences of unfavorable hydrology are ( i ) thermal plants more expensive to the system being dispatched , ( ii ) lower hydropower generation with deficits in the mre and ( iii ) high spot prices . aneel defines the spot price cap for electricity in the brazilian market . the spot price caps as defined by aneel and average spot prices by calendar year are as follows ( r$ / . |year|2017|2016|2015|2014| |spot price cap as defined by aneel|534|423|388|822| |average spot rate||94|287|689| . Question: what was the percentage change in the average spot rate between 2015 to 2016?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
0.31325
Context:interest expense , net was $ 26.4 million , $ 14.6 million , and $ 5.3 million for the years ended december 31 , 2016 , 2015 and 2014 , respectively . interest expense includes the amortization of deferred financing costs , bank fees , capital and built-to-suit lease interest and interest expense under the credit and other long term debt facilities . amortization of deferred financing costs was $ 1.2 million , $ 0.8 million , and $ 0.6 million for the years ended december 31 , 2016 , 2015 and 2014 , respectively . the company monitors the financial health and stability of its lenders under the credit and other long term debt facilities , however during any period of significant instability in the credit markets lenders could be negatively impacted in their ability to perform under these facilities . 6 . commitments and contingencies obligations under operating leases the company leases warehouse space , office facilities , space for its brand and factory house stores and certain equipment under non-cancelable operating leases . the leases expire at various dates through 2033 , excluding extensions at the company 2019s option , and include provisions for rental adjustments . the table below includes executed lease agreements for brand and factory house stores that the company did not yet occupy as of december 31 , 2016 and does not include contingent rent the company may incur at its stores based on future sales above a specified minimum or payments made for maintenance , insurance and real estate taxes . the following is a schedule of future minimum lease payments for non-cancelable real property operating leases as of december 31 , 2016 as well as significant operating lease agreements entered into during the period after december 31 , 2016 through the date of this report : ( in thousands ) . |2017|$ 114857| |2018|127504| |2019|136040| |2020|133092| |2021|122753| |2022 and thereafter|788180| |total future minimum lease payments|$ 1422426| included in selling , general and administrative expense was rent expense of $ 109.0 million , $ 83.0 million and $ 59.0 million for the years ended december 31 , 2016 , 2015 and 2014 , respectively , under non-cancelable operating lease agreements . included in these amounts was contingent rent expense of $ 13.0 million , $ 11.0 million and $ 11.0 million for the years ended december 31 , 2016 , 2015 and 2014 , respectively . sports marketing and other commitments within the normal course of business , the company enters into contractual commitments in order to promote the company 2019s brand and products . these commitments include sponsorship agreements with teams and athletes on the collegiate and professional levels , official supplier agreements , athletic event sponsorships and other marketing commitments . the following is a schedule of the company 2019s future minimum payments under its sponsorship and other marketing agreements as of december 31 . Question: what was the percentage change in rent expenses included in selling , general and administrative expense from 2015 to 2016?
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer:
1.17051
Context:57management's discussion and analysis of financial condition and results of operations facility include covenants relating to net interest coverage and total debt-to-book capitalization ratios . the company was in compliance with the terms of the 3-year credit facility at december 31 , 2005 . the company has never borrowed under its domestic revolving credit facilities . utilization of the non-u.s . credit facilities may also be dependent on the company's ability to meet certain conditions at the time a borrowing is requested . contractual obligations , guarantees , and other purchase commitments contractual obligations summarized in the table below are the company's obligations and commitments to make future payments under debt obligations ( assuming earliest possible exercise of put rights by holders ) , lease payment obligations , and purchase obligations as of december 31 , 2005 . payments due by period ( 1 ) ( in millions ) total 2006 2007 2008 2009 2010 thereafter . |( in millions )|payments due by period ( 1 ) total|payments due by period ( 1 ) 2006|payments due by period ( 1 ) 2007|payments due by period ( 1 ) 2008|payments due by period ( 1 ) 2009|payments due by period ( 1 ) 2010|payments due by period ( 1 ) thereafter| |long-term debt obligations|$ 4033|$ 119|$ 1222|$ 200|$ 2|$ 529|$ 1961| |lease obligations|1150|438|190|134|109|84|195| |purchase obligations|992|418|28|3|2|2|539| |total contractual obligations|$ 6175|$ 975|$ 1440|$ 337|$ 113|$ 615|$ 2695| ( 1 ) amounts included represent firm , non-cancelable commitments . debt obligations : at december 31 , 2005 , the company's long-term debt obligations , including current maturities and unamortized discount and issue costs , totaled $ 4.0 billion , as compared to $ 5.0 billion at december 31 , 2004 . a table of all outstanding long-term debt securities can be found in note 4 , ""debt and credit facilities'' to the company's consolidated financial statements . as previously discussed , the decrease in the long- term debt obligations as compared to december 31 , 2004 , was due to the redemptions and repurchases of $ 1.0 billion principal amount of outstanding securities during 2005 . also , as previously discussed , the remaining $ 118 million of 7.6% ( 7.6 % ) notes due january 1 , 2007 were reclassified to current maturities of long-term debt . lease obligations : the company owns most of its major facilities , but does lease certain office , factory and warehouse space , land , and information technology and other equipment under principally non-cancelable operating leases . at december 31 , 2005 , future minimum lease obligations , net of minimum sublease rentals , totaled $ 1.2 billion . rental expense , net of sublease income , was $ 254 million in 2005 , $ 217 million in 2004 and $ 223 million in 2003 . purchase obligations : the company has entered into agreements for the purchase of inventory , license of software , promotional agreements , and research and development agreements which are firm commitments and are not cancelable . the longest of these agreements extends through 2015 . total payments expected to be made under these agreements total $ 992 million . commitments under other long-term agreements : the company has entered into certain long-term agreements to purchase software , components , supplies and materials from suppliers . most of the agreements extend for periods of one to three years ( three to five years for software ) . however , generally these agreements do not obligate the company to make any purchases , and many permit the company to terminate the agreement with advance notice ( usually ranging from 60 to 180 days ) . if the company were to terminate these agreements , it generally would be liable for certain termination charges , typically based on work performed and supplier on-hand inventory and raw materials attributable to canceled orders . the company's liability would only arise in the event it terminates the agreements for reasons other than ""cause.'' in 2003 , the company entered into outsourcing contracts for certain corporate functions , such as benefit administration and information technology related services . these contracts generally extend for 10 years and are expected to expire in 2013 . the total payments under these contracts are approximately $ 3 billion over 10 years ; however , these contracts can be terminated . termination would result in a penalty substantially less than the annual contract payments . the company would also be required to find another source for these services , including the possibility of performing them in-house . as is customary in bidding for and completing network infrastructure projects and pursuant to a practice the company has followed for many years , the company has a number of performance/bid bonds and standby letters of credit outstanding , primarily relating to projects of government and enterprise mobility solutions segment and the networks segment . these instruments normally have maturities of up to three years and are standard in the . Question: what was the ratio of the rental expense , net of sublease income in 2005 compared to 2004
Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: