Datasets:

kensho

/

bizbench

like 2

Follow

Kensho 36

if 2009 gas production increases at the same rate as 2008 , what would the approximate 2009 product be , in bcf?

183

CodeFinQA

item 7 . management 2019s discussion and analysis of financial condition and results of operations results of operations 2013 highmount 2013 ( continued ) highmount 2019s revenues , profitability and future growth depend substantially on natural gas and ngl prices and highmount 2019s ability to increase its natural gas and ngl production . in recent years , there has been significant price volatility in natural gas and ngl prices due to a variety of factors highmount cannot control or predict . these factors , which include weather conditions , political and economic events , and competition from other energy sources , impact supply and demand for natural gas , which determines the pricing . in recent months , natural gas prices decreased significantly due largely to increased onshore natural gas production , plentiful levels of working gas in storage and reduced commercial demand . the increase in the onshore natural gas production was due largely to increased production from 201cunconventional 201d sources of natural gas such as shale gas , coalbed methane , tight sandstones and methane hydrates , made possible in recent years by modern technology in creating extensive artificial fractures around well bores and advances in horizontal drilling technology . other key factors contributing to the softness of natural gas prices likely included a lower level of industrial demand for natural gas , as a result of the ongoing economic downturn , and relatively low crude oil prices . due to industry conditions , in february of 2009 highmount elected to terminate contracts for five drilling rigs at its permian basin property in the sonora , texas area . the estimated fee payable to the rig contractor for exercising this early termination right will be approximately $ 23 million . in light of these developments , highmount will reduce 2009 production volumes through decreased drilling activity . in addition , the price highmount realizes for its gas production is affected by highmount 2019s hedging activities as well as locational differences in market prices . highmount 2019s decision to increase its natural gas production is dependent upon highmount 2019s ability to realize attractive returns on its capital investment program . returns are affected by commodity prices , capital and operating costs . highmount 2019s operating income , which represents revenues less operating expenses , is primarily affected by revenue factors , but is also a function of varying levels of production expenses , production and ad valorem taxes , as well as depreciation , depletion and amortization ( 201cdd&a 201d ) expenses . highmount 2019s production expenses represent all costs incurred to operate and maintain wells and related equipment and facilities . the principal components of highmount 2019s production expenses are , among other things , direct and indirect costs of labor and benefits , repairs and maintenance , materials , supplies and fuel . in general , during 2008 highmount 2019s labor costs increased primarily due to higher salary levels and continued upward pressure on salaries and wages as a result of the increased competition for skilled workers . in response to these market conditions , in 2008 highmount implemented retention programs , including increases in compensation . production expenses during 2008 were also affected by increases in the cost of fuel , materials and supplies . the higher cost environment discussed above continued during all of 2008 . during the fourth quarter of 2008 the price of natural gas declined significantly while operating expenses remained high . this environment of low commodity prices and high operating expenses continued until december of 2008 when highmount began to see evidence of decreasing operating expenses and drilling costs . highmount 2019s production and ad valorem taxes increase primarily when prices of natural gas and ngls increase , but they are also affected by changes in production , as well as appreciated property values . highmount calculates depletion using the units-of-production method , which depletes the capitalized costs and future development costs associated with evaluated properties based on the ratio of production volumes for the current period to total remaining reserve volumes for the evaluated properties . highmount 2019s depletion expense is affected by its capital spending program and projected future development costs , as well as reserve changes resulting from drilling programs , well performance , and revisions due to changing commodity prices . presented below are production and sales statistics related to highmount 2019s operations: . | Year Ended December 31 | 2008 | 2007(a) | | :--- | :--- | :--- | | Gas production (Bcf) | 78.9 | 34.0 | | Gas sales (Bcf) | 72.5 | 31.4 | | Oil production/sales (Mbbls) | 351.3 | 114.0 | | NGL production/sales (Mbbls) | 3,507.4 | 1,512.9 | | Equivalent production (Bcfe) | 102.0 | 43.8 | | Equivalent sales (Bcfe) | 95.7 | 41.2 | | Average realized prices, without hedging results: | | | | Gas (per Mcf) | $8.25 | $5.95 | | NGL (per Bbl) | 51.26 | 51.02 | | Oil (per Bbl) | 95.26 | 83.37 | | Equivalent (per Mcfe) | 8.48 | 6.65 | .

string

gas_production_2008 = 78.9 gas_production_2007 = 34.0 ratio = gas_production_2008 / gas_production_2007 answer = gas_production_2008 * ratio

considering the year 2010 , what is the difference between the expected contributions and the goodwill and other intangible assets value , in millions?

56

CodeFinQA

holding other assumptions constant , the following table reflects what a one hundred basis point increase and decrease in our estimated long-term rate of return on plan assets would have on our estimated 2010 pension expense ( in millions ) : change in long-term rate of return on plan assets . | | Change in long-term rateof return on plan assets | | :--- | :--- | | Increase (decrease) in expense | Increase | Decrease | | U.S. plans | $(13) | $13 | | U.K. plans | (32) | 32 | | The Netherlands plan | (5) | 5 | | Canada plans | (2) | 2 | estimated future contributions we estimate contributions of approximately $ 381 million in 2010 as compared with $ 437 million in goodwill and other intangible assets goodwill represents the excess of cost over the fair market value of the net assets acquired . we classify our intangible assets acquired as either trademarks , client lists , non-compete agreements , or other purchased intangibles . our goodwill and other intangible balances at december 31 , 2009 were $ 6.1 billion and $ 791 million , respectively , compared to $ 5.6 billion and $ 779 million , respectively , at december 31 , 2008 . although goodwill is not amortized , we test it for impairment at least annually in the fourth quarter . beginning in 2009 , we also test trademarks ( which also are not amortized ) that were acquired in conjunction with the benfield merger for impairment . we test more frequently if there are indicators of impairment or whenever business circumstances suggest that the carrying value of goodwill or trademarks may not be recoverable . these indicators may include a sustained significant decline in our share price and market capitalization , a decline in our expected future cash flows , or a significant adverse change in legal factors or in the business climate , among others . no events occurred during 2009 or 2008 that indicate the existence of an impairment with respect to our reported goodwill or trademarks . we perform impairment reviews at the reporting unit level . a reporting unit is an operating segment or one level below an operating segment ( referred to as a 2018 2018component 2019 2019 ) . a component of an operating segment is a reporting unit if the component constitutes a business for which discrete financial information is available and segment management regularly reviews the operating results of that component . an operating segment shall be deemed to be a reporting unit if all of its components are similar , if none of its components is a reporting unit , or if the segment comprises only a single component . the goodwill impairment test is a two step analysis . step one requires the fair value of each reporting unit to be compared to its book value . management must apply judgment in determining the estimated fair value of the reporting units . if the fair value of a reporting unit is determined to be greater than the carrying value of the reporting unit , goodwill and trademarks are deemed not to be impaired and no further testing is necessary . if the fair value of a reporting unit is less than the carrying value , we perform step two . step two uses the calculated fair value of the reporting unit to perform a hypothetical purchase price allocation to the fair value of the assets and liabilities of the reporting unit . the difference between the fair value of the reporting unit calculated in step one and the fair value of the underlying assets and liabilities of the reporting unit is the implied fair value of .

string

expected_contributions = 437 goodwill_intangibles = 381 difference = expected_contributions - goodwill_intangibles answer = difference

what percentage of lease payments will be paid after 2014?

78.5

CodeFinQA

table of contents hologic , inc . notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) location during fiscal 2009 . the company was responsible for a significant portion of the construction costs and therefore was deemed , for accounting purposes , to be the owner of the building during the construction period , in accordance with asc 840 , leases , subsection 40-15-5 . during the year ended september 27 , 2008 , the company recorded an additional $ 4400 in fair market value of the building , which was completed in fiscal 2008 . this is in addition to the $ 3000 fair market value of the land and the $ 7700 fair market value related to the building constructed that cytyc had recorded as of october 22 , 2007 . the company has recorded such fair market value within property and equipment on its consolidated balance sheets . at september 26 , 2009 , the company has recorded $ 1508 in accrued expenses and $ 16329 in other long-term liabilities related to this obligation in the consolidated balance sheet . the term of the lease is for a period of approximately ten years with the option to extend for two consecutive five-year terms . the lease term commenced in may 2008 , at which time the company began transferring the company 2019s costa rican operations to this facility . it is expected that this process will be complete by february 2009 . at the completion of the construction period , the company reviewed the lease for potential sale-leaseback treatment in accordance with asc 840 , subsection 40 , sale-leaseback transactions ( formerly sfas no . 98 ( 201csfas 98 201d ) , accounting for leases : sale-leaseback transactions involving real estate , sales-type leases of real estate , definition of the lease term , and initial direct costs of direct financing leases 2014an amendment of financial accounting standards board ( 201cfasb 201d ) statements no . 13 , 66 , and 91 and a rescission of fasb statement no . 26 and technical bulletin no . 79-11 ) . based on its analysis , the company determined that the lease did not qualify for sale-leaseback treatment . therefore , the building , leasehold improvements and associated liabilities will remain on the company 2019s financial statements throughout the lease term , and the building and leasehold improvements will be depreciated on a straight line basis over their estimated useful lives of 35 years . future minimum lease payments , including principal and interest , under this lease were as follows at september 26 , 2009: . | | Amount | | :--- | :--- | | Fiscal 2010 | $1,508 | | Fiscal 2011 | 1,561 | | Fiscal 2012 | 1,616 | | Fiscal 2013 | 1,672 | | Fiscal 2014 | 1,731 | | Thereafter | 7,288 | | Total minimum payments | 15,376 | | Less-amount representing interest | (6,094) | | Total | $9,282 | in addition , as a result of the merger with cytyc , the company assumed the obligation to a non-cancelable lease agreement for a building with approximately 146000 square feet located in marlborough , massachusetts , to be principally used as an additional manufacturing facility . in 2011 , the company will have an option to lease an additional 30000 square feet . as part of the lease agreement , the lessor agreed to allow the company to make significant renovations to the facility to prepare the facility for the company 2019s manufacturing needs . the company was responsible for a significant amount of the construction costs and therefore was deemed , for accounting purposes , to be the owner of the building during the construction period in accordance with asc 840-40-15-5 . the $ 13200 fair market value of the facility is included within property and equipment , net on the consolidated balance sheet . at september 26 , 2009 , the company has recorded $ 982 in accrued expenses and 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. .

string

future_minimum_leases_2014 = 7288 total_future_minimum_leases = 9282 percent_future_minimum_leases = future_minimum_leases_2014 / total_future_minimum_leases answer = percent_future_minimum_leases * 100

was was the average cost per share of the 2008 settlement of the 2007 forward repo contract?

22.9599990845

CodeFinQA

page 27 of 100 other liquidity items cash payments required for long-term debt maturities , rental payments under noncancellable operating leases , purchase obligations and other commitments in effect at december 31 , 2010 , are summarized in the following table: . | | Payments Due By Period(a) | | :--- | :--- | | ($ in millions) | Total | Less than1 Year | 1-3 Years | 3-5 Years | More than5 Years | | Long-term debt, including capital leases | $2,750.1 | $34.5 | $188.3 | $367.1 | $2,160.2 | | Interest payments on long-term debt(b) | 1,267.5 | 160.5 | 316.4 | 304.2 | 486.4 | | Operating leases | 93.2 | 31.1 | 37.1 | 16.6 | 8.4 | | Purchase obligations(c) | 6,586.9 | 2,709.5 | 3,779.4 | 98.0 | − | | Total payments on contractual obligations | $10,697.7 | $2,935.6 | $4,321.2 | $785.9 | $2,655.0 | total payments on contractual obligations $ 10697.7 $ 2935.6 $ 4321.2 $ 785.9 $ 2655.0 ( a ) amounts reported in local currencies have been translated at the year-end 2010 exchange rates . ( b ) for variable rate facilities , amounts are based on interest rates in effect at year end and do not contemplate the effects of hedging instruments . ( c ) the company 2019s purchase obligations include contracted amounts for aluminum , steel and other direct materials . also included are commitments for purchases of natural gas and electricity , aerospace and technologies contracts and other less significant items . in cases where variable prices and/or usage are involved , management 2019s best estimates have been used . depending on the circumstances , early termination of the contracts may or may not result in penalties and , therefore , actual payments could vary significantly . the table above does not include $ 60.1 million of uncertain tax positions , the timing of which is uncertain . contributions to the company 2019s defined benefit pension plans , not including the unfunded german plans , are expected to be in the range of $ 30 million in 2011 . this estimate may change based on changes in the pension protection act and actual plan asset performance , among other factors . benefit payments related to these plans are expected to be $ 71.4 million , $ 74.0 million , $ 77.1 million , $ 80.3 million and $ 84.9 million for the years ending december 31 , 2011 through 2015 , respectively , and a total of $ 483.1 million for the years 2016 through 2020 . payments to participants in the unfunded german plans are expected to be between $ 21.8 million ( 20ac16.5 million ) to $ 23.2 million ( 20ac17.5 million ) in each of the years 2011 through 2015 and a total of $ 102.7 million ( 20ac77.5 million ) for the years 2016 through 2020 . for the u.s . pension plans in 2011 , we changed our return on asset assumption to 8.00 percent ( from 8.25 percent in 2010 ) and our discount rate assumption to an average of 5.55 percent ( from 6.00 percent in 2010 ) . based on the changes in assumptions , pension expense in 2011 is anticipated to be relatively flat compared to 2010 . a reduction of the expected return on pension assets assumption by a quarter of a percentage point would result in an estimated $ 2.9 million increase in the 2011 global pension expense , while a quarter of a percentage point reduction in the discount rate applied to the pension liability would result in an estimated $ 3.5 million of additional pension expense in 2011 . additional information regarding the company 2019s pension plans is provided in note 14 accompanying the consolidated financial statements within item 8 of this report . annual cash dividends paid on common stock were 20 cents per share in 2010 , 2009 and 2008 . total dividends paid were $ 35.8 million in 2010 , $ 37.4 million in 2009 and $ 37.5 million in 2008 . on january 26 , 2011 , the company 2019s board of directors approved an increase in the quarterly dividends to 7 cents per share . share repurchases our share repurchases , net of issuances , totaled $ 506.7 million in 2010 , $ 5.1 million in 2009 and $ 299.6 million in 2008 . on november 2 , 2010 , we acquired 2775408 shares of our publicly held common stock in a private transaction for $ 88.8 million . on february 17 , 2010 , we entered into an accelerated share repurchase agreement to buy $ 125.0 million of our common shares using cash on hand and available borrowings . we advanced the $ 125.0 million on february 22 , 2010 , and received 4323598 shares , which represented 90 percent of the total shares as calculated using the previous day 2019s closing price . the agreement was settled on may 20 , 2010 , and the company received an additional 398206 shares . net repurchases in 2008 included a $ 31 million settlement on january 7 , 2008 , of a forward contract entered into in december 2007 for the repurchase of 1350000 shares . from january 1 through february 24 , 2011 , ball repurchased an additional $ 143.3 million of its common stock. .

string

forward_repo_cost = 31 * 1000000 shares_repurchased = 1350000 forward_repo_value = forward_repo_cost / shares_repurchased answer = forward_repo_value

considering the years 2016-2017 , what is the increase observed in the research and development expenditures?

2.1099998951

CodeFinQA

research and development we are committed to investing in highly productive research and development capabilities , particularly in electro-mechanical systems . our research and development ( "r&d" ) expenditures were approximately $ 48.3 million , $ 47.3 million and $ 45.2 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively . we concentrate on developing technology innovations that will deliver growth through the introduction of new products and solutions , and also on driving continuous improvements in product cost , quality , safety and sustainability . we manage our r&d team as a global group with an emphasis on a global collaborative approach to identify and develop new technologies and worldwide product platforms . we are organized on a regional basis to leverage expertise in local standards and configurations . in addition to regional engineering centers in each geographic region , we also operate a global engineering center of excellence in bangalore , india . seasonality our business experiences seasonality that varies by product line . because more construction and do-it-yourself projects occur during the second and third calendar quarters of each year in the northern hemisphere , our security product sales , typically , are higher in those quarters than in the first and fourth calendar quarters . however , our interflex business typically experiences higher sales in the fourth calendar quarter due to project timing . revenue by quarter for the years ended december 31 , 2017 , 2016 and 2015 are as follows: . | | First Quarter | Second Quarter | Third Quarter | Fourth Quarter | | :--- | :--- | :--- | :--- | :--- | | 2017 | 23% | 26% | 25% | 26% | | 2016 | 22% | 26% | 26% | 26% | | 2015 | 22% | 25% | 26% | 27% | employees we currently have approximately 10000 employees . environmental regulation we have a dedicated environmental program that is designed to reduce the utilization and generation of hazardous materials during the manufacturing process as well as to remediate identified environmental concerns . as to the latter , we are currently engaged in site investigations and remediation activities to address environmental cleanup from past operations at current and former production facilities . the company regularly evaluates its remediation programs and considers alternative remediation methods that are in addition to , or in replacement of , those currently utilized by the company based upon enhanced technology and regulatory changes . we are sometimes a party to environmental lawsuits and claims and have received notices of potential violations of environmental laws and regulations from the u.s . environmental protection agency ( the "epa" ) and similar state authorities . we have also been identified as a potentially responsible party ( "prp" ) for cleanup costs associated with off-site waste disposal at federal superfund and state remediation sites . for all such sites , there are other prps and , in most instances , our involvement is minimal . in estimating our liability , we have assumed that we will not bear the entire cost of remediation of any site to the exclusion of other prps who may be jointly and severally liable . the ability of other prps to participate has been taken into account , based on our understanding of the parties 2019 financial condition and probable contributions on a per site basis . additional lawsuits and claims involving environmental matters are likely to arise from time to time in the future . we incurred $ 3.2 million , $ 23.3 million , and $ 4.4 million of expenses during the years ended december 31 , 2017 , 2016 , and 2015 , respectively , for environmental remediation at sites presently or formerly owned or leased by us . as of december 31 , 2017 and 2016 , we have recorded reserves for environmental matters of $ 28.9 million and $ 30.6 million . of these amounts $ 8.9 million and $ 9.6 million , respectively , relate to remediation of sites previously disposed by us . given the evolving nature of environmental laws , regulations and technology , the ultimate cost of future compliance is uncertain. .

string

r_and_d_2017 = 48.3 r_and_d_2016 = 47.3 increase = r_and_d_2017 - r_and_d_2016 percent_increase = increase / r_and_d_2016 answer = percent_increase * 100

in 2017 what was the ratio of the cash provided by operating activities to the free cash flow

29.8999996185

CodeFinQA

adjusted net income of $ 4.6 billion translated into adjusted earnings of $ 5.79 per diluted share , a best- ever performance . f0b7 freight revenues 2013 our freight revenues increased 7% ( 7 % ) year-over-year to $ 19.8 billion driven by volume growth of 2% ( 2 % ) , higher fuel surcharge revenue , and core pricing gains . growth in frac sand , coal , and intermodal shipments more than offset declines in grain , crude oil , finished vehicles , and rock shipments . f0b7 fuel prices 2013 our average price of diesel fuel in 2017 was $ 1.81 per gallon , an increase of 22% ( 22 % ) from 2016 , as both crude oil and conversion spreads between crude oil and diesel increased in 2017 . the higher price resulted in increased operating expenses of $ 334 million ( excluding any impact from year- over-year volume growth ) . gross-ton miles increased 5% ( 5 % ) , which also drove higher fuel expense . our fuel consumption rate , computed as gallons of fuel consumed divided by gross ton-miles in thousands , improved 2% ( 2 % ) . f0b7 free cash flow 2013 cash generated by operating activities totaled $ 7.2 billion , yielding free cash flow of $ 2.2 billion after reductions of $ 3.1 billion for cash used in investing activities and $ 2 billion in dividends , which included a 10% ( 10 % ) increase in our quarterly dividend per share from $ 0.605 to $ 0.665 declared and paid in the fourth quarter of 2017 . free cash flow is defined as cash provided by operating activities less cash used in investing activities and dividends paid . free cash flow is not considered a financial measure under gaap by sec regulation g and item 10 of sec regulation s-k and may not be defined and calculated by other companies in the same manner . we believe free cash flow is important to management and investors in evaluating our financial performance and measures our ability to generate cash without additional external financings . free cash flow should be considered in addition to , rather than as a substitute for , cash provided by operating activities . the following table reconciles cash provided by operating activities ( gaap measure ) to free cash flow ( non-gaap measure ) : . | Millions | 2017 | 2016 | 2015 | | :--- | :--- | :--- | :--- | | Cash provided by operating activities | $7,230 | $7,525 | $7,344 | | Cash used in investing activities | (3,086) | (3,393) | (4,476) | | Dividends paid | (1,982) | (1,879) | (2,344) | | Free cash flow | $2,162 | $2,253 | $524 | 2018 outlook f0b7 safety 2013 operating a safe railroad benefits all our constituents : our employees , customers , shareholders and the communities we serve . we will continue using a multi-faceted approach to safety , utilizing technology , risk assessment , training and employee engagement , quality control , and targeted capital investments . we will continue using and expanding the deployment of total safety culture and courage to care throughout our operations , which allows us to identify and implement best practices for employee and operational safety . we will continue our efforts to increase detection of rail defects ; improve or close crossings ; and educate the public and law enforcement agencies about crossing safety through a combination of our own programs ( including risk assessment strategies ) , industry programs and local community activities across our network . f0b7 network operations 2013 in 2018 , we will continue to align resources with customer demand , maintain an efficient network , and ensure surge capability of our assets . f0b7 fuel prices 2013 fuel price projections for crude oil and natural gas continue to fluctuate in the current environment . we again could see volatile fuel prices during the year , as they are sensitive to global and u.s . domestic demand , refining capacity , geopolitical events , weather conditions and other factors . as prices fluctuate , there will be a timing impact on earnings , as our fuel surcharge programs trail increases or decreases in fuel price by approximately two months . lower fuel prices could have a positive impact on the economy by increasing consumer discretionary spending that potentially could increase demand for various consumer products that we transport . alternatively , lower fuel prices could likely have a negative impact on other commodities such as coal and domestic drilling-related shipments. .

string

cash_provided_by_operating_activities = 2162 free_cash_flow = 7230 answer = cash_provided_by_operating_activities / free_cash_flow * 100

what portion of the presented investments is due within 24 months?

74.1999969482

CodeFinQA

table of contents totaled an absolute notional equivalent of $ 292.3 million and $ 190.5 million , respectively , with the year-over-year increase primarily driven by earnings growth . at this time , we do not hedge these long-term investment exposures . we do not use foreign exchange contracts for speculative trading purposes , nor do we hedge our foreign currency exposure in a manner that entirely offsets the effects of changes in foreign exchange rates . we regularly review our hedging program and assess the need to utilize financial instruments to hedge currency exposures on an ongoing basis . cash flow hedging 2014hedges of forecasted foreign currency revenue we may use foreign exchange purchased options or forward contracts to hedge foreign currency revenue denominated in euros , british pounds and japanese yen . we hedge these cash flow exposures to reduce the risk that our earnings and cash flows will be adversely affected by changes in exchange rates . these foreign exchange contracts , carried at fair value , may have maturities between one and twelve months . we enter into these foreign exchange contracts to hedge forecasted revenue in the normal course of business and accordingly , they are not speculative in nature . we record changes in the intrinsic value of these cash flow hedges in accumulated other comprehensive income ( loss ) until the forecasted transaction occurs . when the forecasted transaction occurs , we reclassify the related gain or loss on the cash flow hedge to revenue . in the event the underlying forecasted transaction does not occur , or it becomes probable that it will not occur , we reclassify the gain or loss on the related cash flow hedge from accumulated other comprehensive income ( loss ) to interest and other income , net on our consolidated statements of income at that time . for the fiscal year ended november 30 , 2018 , there were no net gains or losses recognized in other income relating to hedges of forecasted transactions that did not occur . balance sheet hedging 2014hedging of foreign currency assets and liabilities we hedge exposures related to our net recognized foreign currency assets and liabilities with foreign exchange forward contracts to reduce the risk that our earnings and cash flows will be adversely affected by changes in foreign currency exchange rates . these foreign exchange contracts are carried at fair value with changes in the fair value recorded as interest and other income , net . these foreign exchange contracts do not subject us to material balance sheet risk due to exchange rate movements because gains and losses on these contracts are intended to offset gains and losses on the assets and liabilities being hedged . at november 30 , 2018 , the outstanding balance sheet hedging derivatives had maturities of 180 days or less . see note 5 of our notes to consolidated financial statements for information regarding our hedging activities . interest rate risk short-term investments and fixed income securities at november 30 , 2018 , we had debt securities classified as short-term investments of $ 1.59 billion . changes in interest rates could adversely affect the market value of these investments . the following table separates these investments , based on stated maturities , to show the approximate exposure to interest rates ( in millions ) : . | Due within one year | $612.1 | | :--- | :--- | | Due between one and two years | 564.2 | | Due between two and three years | 282.2 | | Due after three years | 127.7 | | Total | $1,586.2 | a sensitivity analysis was performed on our investment portfolio as of november 30 , 2018 . the analysis is based on an estimate of the hypothetical changes in market value of the portfolio that would result from an immediate parallel shift in the yield curve of various magnitudes. .

string

interest_rate_risk_short_term_investments = 612.1 interest_rate_risk_fixed_income_securities = 564.2 total_interest_rate_risk_short_term_investments_and_fixed_income_securities = interest_rate_risk_short_term_investments + interest_rate_risk_fixed_income_securities percent_interest_rate_risk_short_term_investments_and_fixed_income_securities = total_interest_rate_risk_short_term_investments_and_fixed_income_securities / 1586.2 answer = percent_interest_rate_risk_short_term_investments_and_fixed_income_securities * 100

based on the review of the analysis of total reserve activity related to the hardboard , omniwood and woodruf settlements for the years ended december 31 , 2009 , 2008 and 2007 what was the sum of the payments

203

CodeFinQA

working on the site . the company resolved five of the eight pending lawsuits arising from this matter and believes that it has adequate insurance to resolve remaining matters . the company believes that the settlement of these lawsuits will not have a material adverse effect on its consolidated financial statements . during the 2009 third quarter , in connection with an environmental site remediation action under cer- cla , international paper submitted to the epa a feasibility study for this site . the epa has indicated that it intends to select a proposed remedial action alternative from those identified in the study and present this proposal for public comment . since it is not currently possible to determine the final remedial action that will be required , the company has accrued , as of december 31 , 2009 , an estimate of the minimum costs that could be required for this site . when the remediation plan is finalized by the epa , it is possible that the remediation costs could be sig- nificantly higher than amounts currently recorded . exterior siding and roofing litigation international paper has established reserves relating to the settlement , during 1998 and 1999 , of three nationwide class action lawsuits against the com- pany and masonite corp. , a former wholly-owned subsidiary of the company . those settlements relate to ( 1 ) exterior hardboard siding installed during the 1980 2019s and 1990 2019s ( the hardboard claims ) ; ( 2 ) omniwood siding installed during the 1990 2019s ( the omniwood claims ) ; and ( 3 ) woodruf roofing installed during the 1980 2019s and 1990 2019s ( the woodruf claims ) . all hardboard claims were required to be made by january 15 , 2008 , while all omniwood and woodruf claims were required to be made by jan- uary 6 , 2009 . the following table presents an analysis of total reserve activity related to the hardboard , omniwood and woodruf settlements for the years ended december 31 , 2009 , 2008 and 2007 : in millions total . | <i>In millions</i> | Total | | :--- | :--- | | Balance, December 31, 2006 | $124 | | Payments | (78) | | Balance, December 31, 2007 | 46 | | Additional provision | 82 | | Payments | (87) | | Balance, December 31, 2008 | 41 | | Payments | (38) | | Balance, December 31, 2009 | $3 | the company believes that the aggregate reserve balance remaining at december 31 , 2009 is adequate to cover the final settlement of remaining claims . summary the company is also involved in various other inquiries , administrative proceedings and litigation relating to contracts , sales of property , intellectual property , environmental and safety matters , tax , personal injury , labor and employment and other matters , some of which allege substantial monetary damages . while any proceeding or litigation has the element of uncertainty , the company believes that the outcome of any of the lawsuits or claims that are pending or threatened , or all of them combined , will not have a material adverse effect on its consolidated financial statements . note 12 variable interest entities and preferred securities of subsidiaries variable interest entities in connection with the 2006 sale of approximately 5.6 million acres of forestlands , international paper received installment notes ( the timber notes ) total- ing approximately $ 4.8 billion . the timber notes , which do not require principal payments prior to their august 2016 maturity , are supported by irrev- ocable letters of credit obtained by the buyers of the forestlands . during the 2006 fourth quarter , interna- tional paper contributed the timber notes to newly formed entities ( the borrower entities ) in exchange for class a and class b interests in these entities . subsequently , international paper contributed its $ 200 million class a interests in the borrower enti- ties , along with approximately $ 400 million of international paper promissory notes , to other newly formed entities ( the investor entities ) in exchange for class a and class b interests in these entities , and simultaneously sold its class a interest in the investor entities to a third party investor . as a result , at december 31 , 2006 , international paper held class b interests in the borrower entities and class b interests in the investor entities valued at approx- imately $ 5.0 billion . international paper has no obligation to make any further capital contributions to these entities and did not provide financial or other support during 2009 , 2008 or 2007 that was not previously contractually required . based on an analysis of these entities under guidance that considers the potential magnitude of the variability in the structure and which party bears a majority of the gains or losses , international paper determined that it is not the primary beneficiary of these entities .

string

total_payments = 78 + 87 + 38 answer = total_payments

what are the total operating expenses for aeronautics in 2010?

11733

CodeFinQA

the aeronautics segment generally includes fewer programs that have much larger sales and operating results than programs included in the other segments . due to the large number of comparatively smaller programs in the remaining segments , the discussion of the results of operations of those business segments focuses on lines of business within the segment rather than on specific programs . the following tables of financial information and related discussion of the results of operations of our business segments are consistent with the presentation of segment information in note 5 to the financial statements . we have a number of programs that are classified by the u.s . government and cannot be specifically described . the operating results of these classified programs are included in our consolidated and business segment results , and are subjected to the same oversight and internal controls as our other programs . aeronautics our aeronautics business segment is engaged in the research , design , development , manufacture , integration , sustainment , support , and upgrade of advanced military aircraft , including combat and air mobility aircraft , unmanned air vehicles , and related technologies . key combat aircraft programs include the f-35 lightning ii , f-16 fighting falcon , and f-22 raptor fighter aircraft . key air mobility programs include the c-130j super hercules and the c-5m super galaxy . aeronautics provides logistics support , sustainment , and upgrade modification services for its aircraft . aeronautics 2019 operating results included the following : ( in millions ) 2010 2009 2008 . | <i>(In millions)</i> | 2010 | 2009 | <i>2008</i> | | :--- | :--- | :--- | :--- | | Net sales | $13,235 | $12,201 | $11,473 | | Operating profit | 1,502 | 1,577 | 1,433 | | Operating margin | 11.3% | 12.9% | 12.5% | | Backlog at year-end | 27,500 | 26,700 | 27,200 | net sales for aeronautics increased by 8% ( 8 % ) in 2010 compared to 2009 . sales increased in all three lines of business during the year . the $ 800 million increase in air mobility primarily was attributable to higher volume on c-130 programs , including deliveries and support activities , as well as higher volume on the c-5 reliability enhancement and re-engining program ( rerp ) . there were 25 c-130j deliveries in 2010 compared to 16 in 2009 . the $ 179 million increase in combat aircraft principally was due to higher volume on f-35 production contracts , which partially was offset by lower volume on the f-35 sdd contract and a decline in volume on f-16 , f-22 and other combat aircraft programs . there were 20 f-16 deliveries in 2010 compared to 31 in 2009 . the $ 55 million increase in other aeronautics programs mainly was due to higher volume on p-3 and advanced development programs , which partially were offset by a decline in volume on sustainment activities . net sales for aeronautics increased by 6% ( 6 % ) in 2009 compared to 2008 . during the year , sales increased in all three lines of business . the increase of $ 296 million in air mobility 2019s sales primarily was attributable to higher volume on the c-130 programs , including deliveries and support activities . there were 16 c-130j deliveries in 2009 and 12 in 2008 . combat aircraft sales increased $ 316 million principally due to higher volume on the f-35 program and increases in f-16 deliveries , which partially were offset by lower volume on f-22 and other combat aircraft programs . there were 31 f-16 deliveries in 2009 compared to 28 in 2008 . the $ 116 million increase in other aeronautics programs mainly was due to higher volume on p-3 programs and advanced development programs , which partially were offset by declines in sustainment activities . operating profit for the segment decreased by 5% ( 5 % ) in 2010 compared to 2009 . a decline in operating profit in combat aircraft partially was offset by increases in other aeronautics programs and air mobility . the $ 149 million decrease in combat aircraft 2019s operating profit primarily was due to lower volume and a decrease in the level of favorable performance adjustments on the f-22 program , the f-35 sdd contract and f-16 and other combat aircraft programs in 2010 . these decreases more than offset increased operating profit resulting from higher volume and improved performance on f-35 production contracts in 2010 . the $ 35 million increase in other aeronautics programs mainly was attributable to higher volume and improved performance on p-3 and advanced development programs as well as an increase in the level of favorable performance adjustments on sustainment activities in 2010 . the $ 19 million increase in air mobility operating profit primarily was due to higher volume and improved performance in 2010 on c-130j support activities , which more than offset a decrease in operating profit due to a lower level of favorable performance adjustments on c-130j deliveries in 2010 . the remaining change in operating profit is attributable to an increase in other income , net between the comparable periods . aeronautics 2019 2010 operating margins have decreased when compared to 2009 . the operating margin decrease reflects the life cycles of our significant programs . specifically , aeronautics is performing more development and initial production work on the f-35 program and is performing less work on more mature programs such as the f-22 and f-16 . development and initial production contracts yield lower profits than mature full rate programs . accordingly , while net sales increased in 2010 relative to 2009 , operating profit decreased and consequently operating margins have declined. .

string

net_sales_2010 = 13235 operating_profit_2010 = 1502 answer = net_sales_2010 - operating_profit_2010

considering the years 2005-2007 , what is the average fair value of shares vested , in millions?

2.0999999046

CodeFinQA

humana inc . notes to consolidated financial statements 2014 ( continued ) the total intrinsic value of stock options exercised during 2007 was $ 133.9 million , compared with $ 133.7 million during 2006 and $ 57.8 million during 2005 . cash received from stock option exercises for the years ended december 31 , 2007 , 2006 , and 2005 totaled $ 62.7 million , $ 49.2 million , and $ 36.4 million , respectively . total compensation expense related to nonvested options not yet recognized was $ 23.6 million at december 31 , 2007 . we expect to recognize this compensation expense over a weighted average period of approximately 1.6 years . restricted stock awards restricted stock awards are granted with a fair value equal to the market price of our common stock on the date of grant . compensation expense is recorded straight-line over the vesting period , generally three years from the date of grant . the weighted average grant date fair value of our restricted stock awards was $ 63.59 , $ 54.36 , and $ 32.81 for the years ended december 31 , 2007 , 2006 , and 2005 , respectively . activity for our restricted stock awards was as follows for the year ended december 31 , 2007 : shares weighted average grant-date fair value . | | Shares | Weighted Average Grant-Date Fair Value | | :--- | :--- | :--- | | Nonvested restricted stock at December 31, 2006 | 1,107,455 | $45.86 | | Granted | 852,353 | 63.59 | | Vested | (51,206) | 56.93 | | Forfeited | (63,624) | 49.65 | | Nonvested restricted stock at December 31, 2007 | 1,844,978 | $53.61 | the fair value of shares vested during the years ended december 31 , 2007 , 2006 , and 2005 was $ 3.4 million , $ 2.3 million , and $ 0.6 million , respectively . total compensation expense related to nonvested restricted stock awards not yet recognized was $ 44.7 million at december 31 , 2007 . we expect to recognize this compensation expense over a weighted average period of approximately 1.4 years . there are no other contractual terms covering restricted stock awards once vested. .

string

fair_value_2007 = 3.4 fair_value_2006 = 0.6 fair_value_2005 = 2.3 answer = (fair_value_2007 + fair_value_2006 + fair_value_2005) / 3

based on the price allocation what was the sum of the assets purchased before the goodwill

281409

CodeFinQA

american tower corporation and subsidiaries notes to consolidated financial statements the following table summarizes the preliminary allocation of the aggregate purchase consideration paid and the amounts of assets acquired and liabilities assumed based upon their estimated fair value at the date of acquisition ( in thousands ) : preliminary purchase price allocation . | | Preliminary Purchase Price Allocation | | :--- | :--- | | Non-current assets | $24,460 | | Property and equipment | 138,959 | | Intangible assets (1) | 117,990 | | Other non-current liabilities | (18,195) | | Fair value of net assets acquired | $263,214 | | Goodwill (2) | 47,481 | ( 1 ) consists of customer-related intangibles of approximately $ 80.0 million and network location intangibles of approximately $ 38.0 million . the customer-related intangibles and network location intangibles are being amortized on a straight-line basis over periods of up to 20 years . ( 2 ) the company expects that the goodwill recorded will be deductible for tax purposes . the goodwill was allocated to the company 2019s international rental and management segment . ghana acquisition 2014on december 6 , 2010 , the company entered into a definitive agreement with mtn group limited ( 201cmtn group 201d ) to establish a joint venture in ghana . the joint venture is controlled by a holding company of which a wholly owned subsidiary of the company ( the 201catc ghana subsidiary 201d ) holds a 51% ( 51 % ) interest and mobile telephone networks ( netherlands ) b.v. , a wholly owned subsidiary of mtn group ( the 201cmtn ghana subsidiary 201d ) holds a 49% ( 49 % ) interest . the joint venture is managed and controlled by the company and owns a tower operations company in ghana . pursuant to the agreement , on may 6 , 2011 , august 11 , 2011 and december 23 , 2011 , the joint venture acquired 400 , 770 and 686 communications sites , respectively , from mtn group 2019s operating subsidiary in ghana for an aggregate purchase price of $ 515.6 million ( including contingent consideration of $ 2.3 million and value added tax of $ 65.6 million ) . the aggregate purchase price was subsequently increased to $ 517.7 million ( including contingent consideration of $ 2.3 million and value added tax of $ 65.6 million ) after certain post-closing adjustments . under the terms of the purchase agreement , legal title to certain of the communications sites acquired on december 23 , 2011 will be transferred upon fulfillment of certain conditions by mtn group . prior to the fulfillment of these conditions , the company will operate and maintain control of these communications sites , and accordingly , reflect these sites in the allocation of purchase price and the consolidated operating results . in december 2011 , the company signed an amendment to its agreement with mtn group , which requires the company to make additional payments upon the conversion of certain barter agreements with other wireless carriers to cash-paying master lease agreements . the company currently estimates the fair value of remaining potential contingent consideration payments required to be made under the amended agreement to be between zero and $ 1.0 million and is estimated to be $ 0.9 million using a probability weighted average of the expected outcomes at december 31 , 2012 . the company has previously made payments under this arrangement of $ 2.6 million . during the year ended december 31 , 2012 , the company recorded an increase in fair value of $ 0.4 million as other operating expenses in the consolidated statements of operations. .

string

non_current_assets = 24460 property_and_equipment = 138959 intangible_assets = 117990 other_non_current_liabilities = 18195 fair_value_of_net_assets_acquired = 263214 goodwill = 47481 total_assets_purchased = non_current_assets + property_and_equipment + intangible_assets answer = total_assets_purchased

what is the mathematical range of the five different classes of units redeemed , in millions?

2198000

CodeFinQA

kimco realty corporation and subsidiaries notes to consolidated financial statements , continued the units consisted of ( i ) approximately 81.8 million preferred a units par value $ 1.00 per unit , which pay the holder a return of 7.0% ( 7.0 % ) per annum on the preferred a par value and are redeemable for cash by the holder at any time after one year or callable by the company any time after six months and contain a promote feature based upon an increase in net operating income of the properties capped at a 10.0% ( 10.0 % ) increase , ( ii ) 2000 class a preferred units , par value $ 10000 per unit , which pay the holder a return equal to libor plus 2.0% ( 2.0 % ) per annum on the class a preferred par value and are redeemable for cash by the holder at any time after november 30 , 2010 , ( iii ) 2627 class b-1 preferred units , par value $ 10000 per unit , which pay the holder a return equal to 7.0% ( 7.0 % ) per annum on the class b-1 preferred par value and are redeemable by the holder at any time after november 30 , 2010 , for cash or at the company 2019s option , shares of the company 2019s common stock , equal to the cash redemption amount , as defined , ( iv ) 5673 class b-2 preferred units , par value $ 10000 per unit , which pay the holder a return equal to 7.0% ( 7.0 % ) per annum on the class b-2 preferred par value and are redeemable for cash by the holder at any time after november 30 , 2010 , and ( v ) 640001 class c downreit units , valued at an issuance price of $ 30.52 per unit which pay the holder a return at a rate equal to the company 2019s common stock dividend and are redeemable by the holder at any time after november 30 , 2010 , for cash or at the company 2019s option , shares of the company 2019s common stock equal to the class c cash amount , as defined . the following units have been redeemed as of december 31 , 2010 : redeemed par value redeemed ( in millions ) redemption type . | Type | Units Redeemed | Par Value Redeemed (in millions) | Redemption Type | | :--- | :--- | :--- | :--- | | Preferred A Units | 2,200,000 | $2.2 | Cash | | Class A Preferred Units | 2,000 | $20.0 | Cash | | Class B-1 Preferred Units | 2,438 | $24.4 | Cash | | Class B-2 Preferred Units | 5,576 | $55.8 | Cash/Charitable Contribution | | Class C DownReit Units | 61,804 | $1.9 | Cash | noncontrolling interest relating to the remaining units was $ 110.4 million and $ 113.1 million as of december 31 , 2010 and 2009 , respectively . during 2006 , the company acquired two shopping center properties located in bay shore and centereach , ny . included in noncontrolling interests was approximately $ 41.6 million , including a discount of $ 0.3 million and a fair market value adjustment of $ 3.8 million , in redeemable units ( the 201credeemable units 201d ) , issued by the company in connection with these transactions . the prop- erties were acquired through the issuance of $ 24.2 million of redeemable units , which are redeemable at the option of the holder ; approximately $ 14.0 million of fixed rate redeemable units and the assumption of approximately $ 23.4 million of non-recourse debt . the redeemable units consist of ( i ) 13963 class a units , par value $ 1000 per unit , which pay the holder a return of 5% ( 5 % ) per annum of the class a par value and are redeemable for cash by the holder at any time after april 3 , 2011 , or callable by the company any time after april 3 , 2016 , and ( ii ) 647758 class b units , valued at an issuance price of $ 37.24 per unit , which pay the holder a return at a rate equal to the company 2019s common stock dividend and are redeemable by the holder at any time after april 3 , 2007 , for cash or at the option of the company for common stock at a ratio of 1:1 , or callable by the company any time after april 3 , 2026 . the company is restricted from disposing of these assets , other than through a tax free transaction , until april 2016 and april 2026 for the centereach , ny , and bay shore , ny , assets , respectively . during 2007 , 30000 units , or $ 1.1 million par value , of theclass bunits were redeemed by the holder in cash at the option of the company . noncontrolling interest relating to the units was $ 40.4 million and $ 40.3 million as of december 31 , 2010 and 2009 , respectively . noncontrolling interests also includes 138015 convertible units issued during 2006 , by the company , which were valued at approxi- mately $ 5.3 million , including a fair market value adjustment of $ 0.3 million , related to an interest acquired in an office building located in albany , ny . these units are redeemable at the option of the holder after one year for cash or at the option of the company for the company 2019s common stock at a ratio of 1:1 . the holder is entitled to a distribution equal to the dividend rate of the company 2019s common stock . the company is restricted from disposing of these assets , other than through a tax free transaction , until january 2017. .

string

preferred_a_units_redeemed = 2200000 preferred_a_units_redeemed_2010 = 2000 answer = preferred_a_units_redeemed - preferred_a_units_redeemed_2010

what was the percent of the total treatment regiment for prove1 for the 48-weeks of therapy with peg-ifn and rbv

30.7999992371

CodeFinQA

united states , fail to either complete treatment or show a long-term sustained response to therapy . as a result , we believe new safe and effective treatment options for hcv infection are needed . telaprevir development program we are conducting three major phase 2b clinical trials of telaprevir . prove 1 is ongoing in the united states and prove 2 is ongoing in european union , both in treatment-na efve patients . prove 3 has commenced and is being conducted with patients in north america and the european union who did not achieve sustained viral response with previous interferon-based treatments . prove 1 and prove 2 are fully enrolled , and we commenced patient enrollment in prove 3 in january 2007 . prove 1 and prove 2 we expect that together , the prove 1 and prove 2 clinical trials will evaluate rates of sustained viral response , or svr , in approximately 580 treatment-na efve patients infected with genotype 1 hcv , including patients who will receive telaprevir and patients in the control arms . svr is defined as undetectable viral levels 24 weeks after all treatment has ceased . a description of each of the clinical trial arms for the prove 1 and prove 2 clinical trials , including the intended number of patients in each trial , is set forth in the following table : the prove 1 and prove 2 clinical trials together have the following four key objectives : 2022 to evaluate the optimal svr rate that can be achieved with telaprevir therapy in combination with peg-ifn and rbv ; 2022 to evaluate the optimal treatment duration for telaprevir combination therapy ; 2022 to evaluate the role of rbv in telaprevir-based therapy ; and 2022 to evaluate the safety of telaprevir in combination with peg-ifn and rbv . in the prove 1 and prove 2 clinical trials , patients receive telaprevir in a tablet formulation at a dose of 750 mg every eight hours for 12 weeks . the prove 1 clinical trial is double-blinded and placebo-controlled , and the prove 2 clinical trial is partially-blinded and placebo-controlled . in december 2006 , we announced results from a planned interim safety and antiviral activity analysis that was conducted and reviewed by the independent data monitoring committee overseeing the prove 1 clinical trial . as of the cut-off date of the interim analysis , a total of 250 patients had been enrolled in the prove 1 clinical trial and received at least one dose of telaprevir or placebo . in the data reported , the patients in all three telaprevir-containing arms ( approximately 175 patients ) were pooled together and the results were compared to the results in the control arm of peg-ifn and rbv and placebo ( approximately 75 patients ) . at the time of the data cut-off for the safety analysis , approximately 100 patients had completed 12 weeks on-study and more than 200 patients had completed eight weeks . the most common adverse treatment regimen number of patients ( treatment na efve ) prove 1 number of patients ( treatment na efve ) prove 2 total . | Treatment Regimen | Number of Patients (treatment naïve) PROVE 1 | Number of Patients (treatment naïve) PROVE 2 | Total | | :--- | :--- | :--- | :--- | | 12-week regimens of telaprevir in combination with peg-IFN and RBV | 20 | 80 | 100 | | 12-week regimens of telaprevir in combination with only peg-IFN | 0 | 80 | 80 | | 12-week regimens of telaprevir in combination with peg-IFN and RBV, followed by 12 weeks of therapy with peg-IFN and RBV | 80 | 80 | 160 | | 12-week regimens of telaprevir in combination with peg-IFN and RBV, followed by 36 weeks of therapy with peg-IFN and RBV | 80 | 0 | 80 | | 48-weeks of therapy with peg-IFN and RBV | 80 | 80 | 160 | | Total | 260 | 320 | 580 | .

string

percent_of_total_treatment_regiment = 80 / 260 answer = percent_of_total_treatment_regiment * 100

what are the total number of pending tobacco-related cases in united states in 2015?

82

CodeFinQA

altria group , inc . and subsidiaries notes to consolidated financial statements _________________________ may not be obtainable in all cases . this risk has been substantially reduced given that 47 states and puerto rico limit the dollar amount of bonds or require no bond at all . as discussed below , however , tobacco litigation plaintiffs have challenged the constitutionality of florida 2019s bond cap statute in several cases and plaintiffs may challenge state bond cap statutes in other jurisdictions as well . such challenges may include the applicability of state bond caps in federal court . states , including florida , may also seek to repeal or alter bond cap statutes through legislation . although altria group , inc . cannot predict the outcome of such challenges , it is possible that the consolidated results of operations , cash flows or financial position of altria group , inc. , or one or more of its subsidiaries , could be materially affected in a particular fiscal quarter or fiscal year by an unfavorable outcome of one or more such challenges . altria group , inc . and its subsidiaries record provisions in the consolidated financial statements for pending litigation when they determine that an unfavorable outcome is probable and the amount of the loss can be reasonably estimated . at the present time , while it is reasonably possible that an unfavorable outcome in a case may occur , except to the extent discussed elsewhere in this note 19 . contingencies : ( i ) management has concluded that it is not probable that a loss has been incurred in any of the pending tobacco-related cases ; ( ii ) management is unable to estimate the possible loss or range of loss that could result from an unfavorable outcome in any of the pending tobacco-related cases ; and ( iii ) accordingly , management has not provided any amounts in the consolidated financial statements for unfavorable outcomes , if any . litigation defense costs are expensed as incurred . altria group , inc . and its subsidiaries have achieved substantial success in managing litigation . nevertheless , litigation is subject to uncertainty and significant challenges remain . it is possible that the consolidated results of operations , cash flows or financial position of altria group , inc. , or one or more of its subsidiaries , could be materially affected in a particular fiscal quarter or fiscal year by an unfavorable outcome or settlement of certain pending litigation . altria group , inc . and each of its subsidiaries named as a defendant believe , and each has been so advised by counsel handling the respective cases , that it has valid defenses to the litigation pending against it , as well as valid bases for appeal of adverse verdicts . each of the companies has defended , and will continue to defend , vigorously against litigation challenges . however , altria group , inc . and its subsidiaries may enter into settlement discussions in particular cases if they believe it is in the best interests of altria group , inc . to do so . overview of altria group , inc . and/or pm usa tobacco- related litigation types and number of cases : claims related to tobacco products generally fall within the following categories : ( i ) smoking and health cases alleging personal injury brought on behalf of individual plaintiffs ; ( ii ) smoking and health cases primarily alleging personal injury or seeking court-supervised programs for ongoing medical monitoring and purporting to be brought on behalf of a class of individual plaintiffs , including cases in which the aggregated claims of a number of individual plaintiffs are to be tried in a single proceeding ; ( iii ) health care cost recovery cases brought by governmental ( both domestic and foreign ) plaintiffs seeking reimbursement for health care expenditures allegedly caused by cigarette smoking and/or disgorgement of profits ; ( iv ) class action suits alleging that the uses of the terms 201clights 201d and 201cultra lights 201d constitute deceptive and unfair trade practices , common law or statutory fraud , unjust enrichment , breach of warranty or violations of the racketeer influenced and corrupt organizations act ( 201crico 201d ) ; and ( v ) other tobacco-related litigation described below . plaintiffs 2019 theories of recovery and the defenses raised in pending smoking and health , health care cost recovery and 201clights/ultra lights 201d cases are discussed below . the table below lists the number of certain tobacco-related cases pending in the united states against pm usa ( 1 ) and , in some instances , altria group , inc . as of december 31 , 2016 , 2015 and 2014: . | | 2016 | 2015 | 2014 | | :--- | :--- | :--- | :--- | | Individual Smoking and Health Cases⁽²⁾ | 70 | 65 | 67 | | Smoking and Health Class Actions and Aggregated Claims Litigation⁽³⁾ | 5 | 5 | 5 | | Health Care Cost Recovery Actions⁽⁴⁾ | 1 | 1 | 1 | | “Lights/Ultra Lights” Class Actions | 8 | 11 | 12 | ( 1 ) does not include 25 cases filed on the asbestos docket in the circuit court for baltimore city , maryland , which seek to join pm usa and other cigarette- manufacturing defendants in complaints previously filed against asbestos companies . ( 2 ) does not include 2485 cases brought by flight attendants seeking compensatory damages for personal injuries allegedly caused by exposure to environmental tobacco smoke ( 201cets 201d ) . the flight attendants allege that they are members of an ets smoking and health class action in florida , which was settled in 1997 ( broin ) . the terms of the court-approved settlement in that case allowed class members to file individual lawsuits seeking compensatory damages , but prohibited them from seeking punitive damages . also , does not include individual smoking and health cases brought by or on behalf of plaintiffs in florida state and federal courts following the decertification of the engle case ( discussed below in smoking and health litigation - engle class action ) . ( 3 ) includes as one case the 600 civil actions ( of which 344 were actions against pm usa ) that were to be tried in a single proceeding in west virginia ( in re : tobacco litigation ) . the west virginia supreme court of appeals ruled that the united states constitution did not preclude a trial in two phases in this case . issues related to defendants 2019 conduct and whether punitive damages are permissible were tried in the first phase . trial in the first phase of this case began in april 2013 . in may 2013 , the jury returned a verdict in favor of defendants on the claims for design defect , negligence , failure to warn , breach of warranty , and concealment and declined to find that the defendants 2019 conduct warranted punitive damages . plaintiffs prevailed on their claim that ventilated filter cigarettes should have included use instructions for the period 1964 - 1969 . the second phase will consist of trials to determine liability and compensatory damages . in november 2014 , the west virginia supreme court of appeals affirmed the final judgment . in july 2015 , the trial court entered an order that will result in the entry of final judgment in favor of defendants and against all but 30 plaintiffs who potentially have a claim against one or more defendants that may be pursued in a second phase of trial . the court intends to try the claims of these 30 plaintiffs in six consolidated trials , each with a group of five plaintiffs . the first trial is currently scheduled to begin may 1 , 2018 . dates for the five remaining consolidated trials have not been scheduled . ( 4 ) see health care cost recovery litigation - federal government 2019s lawsuit below. .

string

individual_smoking_and_health_2015 = 65 smoking_and_health_class_actions_2015 = 5 health_care_cost_recovery_actions_2015 = 1 lights_ultra_lights_2015 = 11 total_pending_cases_2015 = individual_smoking_and_health_2015 + smoking_and_health_class_actions_2015 + health_care_cost_recovery_actions_2015 + lights_ultra_lights_2015 answer = total_pending_cases_2015

what was the percentage decrease in net come for the year ended 2013 to the year ended 2012?

17.0400009155

CodeFinQA

other expense , net : the company's other expense consists of the following: . | | Year Ended December 31, | | :--- | :--- | | (in thousands) | 2013 | 2012 | | Foreign currency losses, net | $(1,115) | $(1,401) | | Other income (expense), net | 69 | (4) | | Total other expense, net | $(1,046) | $(1,405) | income tax provision : the company recorded income tax expense of $ 77.2 million and had income before income taxes of $ 322.5 million for the year ended december 31 , 2013 , representing an effective tax rate of 23.9% ( 23.9 % ) . during the year ended december 31 , 2012 , the company recorded income tax expense of $ 90.1 million and had income before income taxes of $ 293.5 million , representing an effective tax rate of 30.7% ( 30.7 % ) . in december 2013 , the company received notice from the irs that the joint committee on taxation took no exception to the company's tax returns that were filed for 2009 and 2010 . an $ 11.0 million tax benefit was recognized in the company's 2013 financial results as the company had effectively settled uncertainty regarding the realization of refund claims filed in connection with the 2009 and 2010 returns . in the u.s. , which is the largest jurisdiction where the company receives such a tax credit , the availability of the research and development credit expired at the end of the 2011 tax year . in january 2013 , the u.s . congress passed legislation that reinstated the research and development credit retroactive to 2012 . the income tax provision for the year ended december 31 , 2013 includes approximately $ 2.3 million related to the reinstated research and development credit for 2012 activity . the decrease in the effective tax rate from the prior year is primarily due to the release of an uncertain tax position mentioned above , the reinstatement of the u.s . research and development credit mentioned above , and cash repatriation activities . when compared to the federal and state combined statutory rate , the effective tax rates for the years ended december 31 , 2013 and 2012 were favorably impacted by lower statutory tax rates in many of the company 2019s foreign jurisdictions , the domestic manufacturing deduction and tax benefits associated with the merger of the company 2019s japan subsidiaries in 2010 . net income : the company 2019s net income for the year ended december 31 , 2013 was $ 245.3 million as compared to net income of $ 203.5 million for the year ended december 31 , 2012 . diluted earnings per share was $ 2.58 for the year ended december 31 , 2013 and $ 2.14 for the year ended december 31 , 2012 . the weighted average shares used in computing diluted earnings per share were 95.1 million and 95.0 million for the years ended december 31 , 2013 and 2012 , respectively . table of contents .

string

decrease = 245.3 - 203.5 percent_decrease = decrease / 245.3 answer = percent_decrease * 100

what would be the total purchase price of impella cardiosystems assuming all contingent consideration is earned , in millions?

56.2999992371

CodeFinQA

97% ( 97 % ) of its carrying value . the columbia fund is being liquidated with distributions to us occurring and expected to be fully liquidated during calendar 2008 . since december 2007 , we have received disbursements of approximately $ 20.7 million from the columbia fund . our operating activities during the year ended march 31 , 2008 used cash of $ 28.9 million as compared to $ 19.8 million during the same period in the prior year . our fiscal 2008 net loss of $ 40.9 million was the primary cause of our cash use from operations , attributed to increased investments in our global distribution as we continue to drive initiatives to increase recovery awareness as well as our investments in research and development to broaden our circulatory care product portfolio . in addition , our inventories used cash of $ 11.1 million during fiscal 2008 , reflecting our inventory build-up to support anticipated increases in global demand for our products and our accounts receivable also increased as a result of higher sales volume resulting in a use of cash of $ 2.8 million in fiscal 2008 . these decreases in cash were partially offset by an increase in accounts payable and accrued expenses of $ 5.6 million , non-cash adjustments of $ 5.4 million related to stock-based compensation expense , $ 6.1 million of depreciation and amortization and $ 5.0 million for the change in fair value of worldheart note receivable and warrant . our investing activities during the year ended march 31 , 2008 used cash of $ 40.9 million as compared to cash provided by investing activities of $ 15.1 million during the year ended march 31 , 2007 . cash used by investment activities for fiscal 2008 consisted primarily of $ 49.3 million for the recharacterization of the columbia fund to short-term marketable securities , $ 17.1 million for the purchase of short-term marketable securities , $ 3.8 million related to expenditures for property and equipment and $ 5.0 million for note receivable advanced to worldheart . these amounts were offset by $ 34.5 million of proceeds from short-term marketable securities . in june 2008 , we received 510 ( k ) clearance of our impella 2.5 , triggering an obligation to pay $ 5.6 million of contingent payments in accordance with the may 2005 acquisition of impella . these contingent payments may be made , at our option , with cash , or stock or by a combination of cash or stock under circumstances described in the purchase agreement . it is our intent to satisfy this contingent payment through the issuance of shares of our common stock . our financing activities during the year ended march 31 , 2008 provided cash of $ 2.1 million as compared to cash provided by financing activities of $ 66.6 million during the same period in the prior year . cash provided by financing activities for fiscal 2008 is comprised primarily of $ 2.8 million attributable to the exercise of stock options , $ 0.9 million related to the proceeds from the issuance of common stock , $ 0.3 million related to proceeds from the employee stock purchase plan , partially offset by $ 1.9 million related to the repurchase of warrants . the $ 64.5 million decrease compared to the prior year is primarily due to $ 63.6 million raised from the public offering in fiscal 2007 . we disbursed approximately $ 2.2 million of cash for the warrant repurchase and settlement of certain litigation . capital expenditures for fiscal 2009 are estimated to be approximately $ 3.0 to $ 6.0 million . contractual obligations and commercial commitments the following table summarizes our contractual obligations at march 31 , 2008 and the effects such obligations are expected to have on our liquidity and cash flows in future periods . payments due by fiscal year ( in $ 000 2019s ) contractual obligations total than 1 than 5 . | | Payments Due By Fiscal Year (in $000’s) | | :--- | :--- | | Contractual Obligations | Total | Less than 1 Year | 1-3 Years | 3-5 Years | More than 5 Years | | Operating Lease Commitments | $7,754 | $2,544 | $3,507 | $1,703 | $— | | Contractual Obligations | 9,309 | 7,473 | 1,836 | — | — | | Total Obligations | $17,063 | $10,017 | $5,343 | $1,703 | $— | we have no long-term debt , capital leases or other material commitments , for open purchase orders and clinical trial agreements at march 31 , 2008 other than those shown in the table above . in may 2005 , we acquired all the shares of outstanding capital stock of impella cardiosystems ag , a company headquartered in aachen , germany . the aggregate purchase price excluding a contingent payment in the amount of $ 5.6 million made on january 30 , 2007 in the form of common stock , was approximately $ 45.1 million , which consisted of $ 42.2 million of our common stock , $ 1.6 million of cash paid to certain former shareholders of impella and $ 1.3 million of transaction costs , consisting primarily of fees paid for financial advisory and legal services . we may make additional contingent payments to impella 2019s former shareholders based on additional milestone payments related to fda approvals in the amount of up to $ 11.2 million . in june 2008 we received 510 ( k ) clearance of our impella 2.5 , triggering an obligation to pay $ 5.6 million of contingent payments . these contingent payments may be made , at our option , with cash , or stock or by a combination of cash or stock under circumstances described in the purchase agreement , except that approximately $ 1.8 million of these contingent payments must be made in cash . the payment of any contingent payments will result in an increase to the carrying value of goodwill . we apply the disclosure provisions of fin no . 45 , guarantor 2019s accounting and disclosure requirements for guarantees , including guarantees of indebtedness of others , and interpretation of fasb statements no . 5 , 57 and 107 and rescission of fasb interpretation .

string

contingent_payment = 11.2 total_purchase_price = 45.1 answer = contingent_payment + total_purchase_price

what was the ratio of the fair value of derivative receivables reported on the consolidated balance sheets at december 31 , 2018 and 2017 .

0.9599999785

CodeFinQA

jpmorgan chase & co./2018 form 10-k 117 lending-related commitments the firm uses lending-related financial instruments , such as commitments ( including revolving credit facilities ) and guarantees , to address the financing needs of its clients . the contractual amounts of these financial instruments represent the maximum possible credit risk should the clients draw down on these commitments or the firm fulfill its obligations under these guarantees , and the clients subsequently fail to perform according to the terms of these contracts . most of these commitments and guarantees are refinanced , extended , cancelled , or expire without being drawn upon or a default occurring . in the firm 2019s view , the total contractual amount of these wholesale lending-related commitments is not representative of the firm 2019s expected future credit exposure or funding requirements . for further information on wholesale lending-related commitments , refer to note 27 . clearing services the firm provides clearing services for clients entering into certain securities and derivative contracts . through the provision of these services the firm is exposed to the risk of non-performance by its clients and may be required to share in losses incurred by ccps . where possible , the firm seeks to mitigate its credit risk to its clients through the collection of adequate margin at inception and throughout the life of the transactions and can also cease provision of clearing services if clients do not adhere to their obligations under the clearing agreement . for further discussion of clearing services , refer to note 27 . derivative contracts derivatives enable clients and counterparties to manage risks including credit risk and risks arising from fluctuations in interest rates , foreign exchange , equities , and commodities . the firm makes markets in derivatives in order to meet these needs and uses derivatives to manage certain risks associated with net open risk positions from its market-making activities , including the counterparty credit risk arising from derivative receivables . the firm also uses derivative instruments to manage its own credit and other market risk exposure . the nature of the counterparty and the settlement mechanism of the derivative affect the credit risk to which the firm is exposed . for otc derivatives the firm is exposed to the credit risk of the derivative counterparty . for exchange-traded derivatives ( 201cetd 201d ) , such as futures and options , and 201ccleared 201d over-the-counter ( 201cotc-cleared 201d ) derivatives , the firm is generally exposed to the credit risk of the relevant ccp . where possible , the firm seeks to mitigate its credit risk exposures arising from derivative contracts through the use of legally enforceable master netting arrangements and collateral agreements . for a further discussion of derivative contracts , counterparties and settlement types , refer to note 5 . the following table summarizes the net derivative receivables for the periods presented . derivative receivables . | December 31, (in millions) | 2018 | 2017 | | :--- | :--- | :--- | | Total, net of cash collateral | $54,213 | $56,523 | | Liquid securities and other cash collateral held against derivative receivables^(a) | (15,322) | (16,108) | | Total, net of all collateral | $38,891 | $40,415 | ( a ) includes collateral related to derivative instruments where appropriate legal opinions have not been either sought or obtained with respect to master netting agreements . the fair value of derivative receivables reported on the consolidated balance sheets were $ 54.2 billion and $ 56.5 billion at december 31 , 2018 and 2017 , respectively . derivative receivables represent the fair value of the derivative contracts after giving effect to legally enforceable master netting agreements and cash collateral held by the firm . however , in management 2019s view , the appropriate measure of current credit risk should also take into consideration additional liquid securities ( primarily u.s . government and agency securities and other group of seven nations ( 201cg7 201d ) government securities ) and other cash collateral held by the firm aggregating $ 15.3 billion and $ 16.1 billion at december 31 , 2018 and 2017 , respectively , that may be used as security when the fair value of the client 2019s exposure is in the firm 2019s favor . in addition to the collateral described in the preceding paragraph , the firm also holds additional collateral ( primarily cash , g7 government securities , other liquid government-agency and guaranteed securities , and corporate debt and equity securities ) delivered by clients at the initiation of transactions , as well as collateral related to contracts that have a non-daily call frequency and collateral that the firm has agreed to return but has not yet settled as of the reporting date . although this collateral does not reduce the balances and is not included in the table above , it is available as security against potential exposure that could arise should the fair value of the client 2019s derivative contracts move in the firm 2019s favor . the derivative receivables fair value , net of all collateral , also does not include other credit enhancements , such as letters of credit . for additional information on the firm 2019s use of collateral agreements , refer to note 5 . while useful as a current view of credit exposure , the net fair value of the derivative receivables does not capture the potential future variability of that credit exposure . to capture the potential future variability of credit exposure , the firm calculates , on a client-by-client basis , three measures of potential derivatives-related credit loss : peak , derivative risk equivalent ( 201cdre 201d ) , and average exposure ( 201cavg 201d ) . these measures all incorporate netting and collateral benefits , where applicable . peak represents a conservative measure of potential exposure to a counterparty calculated in a manner that is broadly equivalent to a 97.5% ( 97.5 % ) confidence level over the life of the transaction . peak is the primary measure used by the firm for setting of credit limits for derivative contracts , senior management reporting and derivatives exposure management . dre exposure is a measure that expresses the risk of derivative exposure on a basis intended to be .

string

carrying_amount = 54.2 fair_value = 56.5 ratio = carrying_amount / fair_value answer = ratio

in the review of the activity between the company and the entities what was the ratio of the cash payments to the cash receipts

3.3199999332

CodeFinQA

also during 2006 , the entities acquired approximately $ 4.8 billion of international paper debt obligations for cash , resulting in a total of approximately $ 5.2 billion of international paper debt obligations held by the entities at december 31 , 2006 . the various agreements entered into in connection with these transactions provide that international paper has , and intends to effect , a legal right to offset its obligation under these debt instruments with its investments in the entities . accordingly , for financial reporting purposes , international paper has offset approximately $ 5.2 billion of class b interests in the entities against $ 5.3 billion of international paper debt obligations held by these entities at december 31 , 2014 and 2013 . despite the offset treatment , these remain debt obligations of international paper . remaining borrowings of $ 50 million and $ 67 million at december 31 , 2014 and 2013 , respectively , are included in floating rate notes due 2014 2013 2019 in the summary of long-term debt in note 13 . additional debt related to the above transaction of $ 107 million and $ 79 million is included in short-term notes in the summary of long-term debt in note 13 at december 31 , 2014 and 2013 . the use of the above entities facilitated the monetization of the credit enhanced timber notes in a cost effective manner by increasing the borrowing capacity and lowering the interest rate , while providing for the offset accounting treatment described above . additionally , the monetization structure preserved the tax deferral that resulted from the 2006 forestlands sales . the company recognized a $ 1.4 billion deferred tax liability in connection with the 2006 forestlands sale , which will be settled with the maturity of the timber notes in the third quarter of 2016 ( unless extended ) . during 2011 and 2012 , the credit ratings for two letter of credit banks that support $ 1.5 billion of timber notes were downgraded below the specified threshold . these letters of credit were successfully replaced by other qualifying institutions . fees of $ 10 million were incurred during 2012 in connection with these replacements . during 2012 , an additional letter of credit bank that supports $ 707 million of timber notes was downgraded below the specified threshold . in december 2012 , the company and the third-party managing member agreed to a continuing replacement waiver for these letters of credit , terminable upon 30 days notice . activity between the company and the entities was as follows: . | In millions | 2014 | 2013 | 2012 | | :--- | :--- | :--- | :--- | | Revenue (loss) (a) | $38 | $45 | $49 | | Expense (a) | 72 | 79 | 90 | | Cash receipts (b) | 22 | 33 | 36 | | Cash payments (c) | 73 | 84 | 87 | ( a ) the net expense related to the company 2019s interest in the entities is included in interest expense , net in the accompanying consolidated statement of operations , as international paper has and intends to effect its legal right to offset as discussed above . ( b ) the cash receipts are equity distributions from the entities to international paper . ( c ) the semi-annual payments are related to interest on the associated debt obligations discussed above . based on an analysis of the entities discussed above under guidance that considers the potential magnitude of the variability in the structures and which party has a controlling financial interest , international paper determined that it is not the primary beneficiary of the entities , and therefore , should not consolidate its investments in these entities . it was also determined that the source of variability in the structure is the value of the timber notes , the assets most significantly impacting the structure 2019s economic performance . the credit quality of the timber notes is supported by irrevocable letters of credit obtained by third-party buyers which are 100% ( 100 % ) cash collateralized . international paper analyzed which party has control over the economic performance of each entity , and concluded international paper does not have control over significant decisions surrounding the timber notes and letters of credit and therefore is not the primary beneficiary . the company 2019s maximum exposure to loss equals the value of the timber notes ; however , an analysis performed by the company concluded the likelihood of this exposure is remote . international paper also held variable interests in financing entities that were used to monetize long-term notes received from the sale of forestlands in 2002 . international paper transferred notes ( the monetized notes , with an original maturity of 10 years from inception ) and cash of approximately $ 500 million to these entities in exchange for preferred interests , and accounted for the transfers as a sale of the notes with no associated gain or loss . in the same period , the entities acquired approximately $ 500 million of international paper debt obligations for cash . international paper has no obligation to make any further capital contributions to these entities and did not provide any financial support that was not previously contractually required during the years ended december 31 , 2014 , 2013 or 2012 . during 2012 , $ 252 million of the 2002 monetized notes matured . cash receipts upon maturity were used to pay the associated debt obligations . effective june 1 , 2012 , international paper liquidated its interest in the 2002 financing entities . in connection with the acquisition of temple-inland in february 2012 , two special purpose entities became wholly-owned subsidiaries of international paper. .

string

cash_receipts = 73 cash_payments = 22 ratio = cash_receipts / cash_payments answer = ratio

for net cash provided by operating activities in 2013 , how much was lost due to the decrease in net income?

47.9000015259

CodeFinQA

management 2019s discussion and analysis of financial condition and results of operations 2013 ( continued ) ( amounts in millions , except per share amounts ) corporate and other expenses decreased slightly during 2012 by $ 4.7 to $ 137.3 compared to 2011 , primarily due to lower office and general expenses , partially offset by an increase in temporary help to support our information-technology system-upgrade initiatives . liquidity and capital resources cash flow overview the following tables summarize key financial data relating to our liquidity , capital resources and uses of capital. . | | Years ended December 31, | | :--- | :--- | | Cash Flow Data | 2013 | 2012 | 2011 | | Net income, adjusted to reconcile net income to net cashprovided by operating activities¹ | $598.4 | $697.2 | $735.7 | | Net cash used in working capital ² | (9.6) | (293.2) | (359.4) | | Changes in other non-current assets and liabilities using cash | 4.1 | (46.8) | (102.8) | | Net cash provided by operating activities | $592.9 | $357.2 | $273.5 | | Net cash used in investing activities | (224.5) | (210.2) | (58.8) | | Net cash (used in) provided by financing activities | (1,212.3) | 131.3 | (541.0) | 1 reflects net income adjusted primarily for depreciation and amortization of fixed assets and intangible assets , amortization of restricted stock and other non-cash compensation , non-cash loss related to early extinguishment of debt , and deferred income taxes . 2 reflects changes in accounts receivable , expenditures billable to clients , other current assets , accounts payable and accrued liabilities . operating activities net cash provided by operating activities during 2013 was $ 592.9 , which was an increase of $ 235.7 as compared to 2012 , primarily as a result of an improvement in working capital usage of $ 283.6 , offset by a decrease in net income . due to the seasonality of our business , we typically generate cash from working capital in the second half of a year and use cash from working capital in the first half of a year , with the largest impacts in the first and fourth quarters . the improvement in working capital in 2013 was impacted by our media businesses and an ongoing focus on working capital management at our agencies . net cash provided by operating activities during 2012 was $ 357.2 , which was an increase of $ 83.7 as compared to 2011 , primarily as a result of a decrease in working capital usage of $ 66.2 . the net working capital usage in 2012 was primarily impacted by our media businesses . the timing of media buying on behalf of our clients affects our working capital and operating cash flow . in most of our businesses , our agencies enter into commitments to pay production and media costs on behalf of clients . to the extent possible we pay production and media charges after we have received funds from our clients . the amounts involved substantially exceed our revenues , and primarily affect the level of accounts receivable , expenditures billable to clients , accounts payable and accrued liabilities . our assets include both cash received and accounts receivable from clients for these pass-through arrangements , while our liabilities include amounts owed on behalf of clients to media and production suppliers . our accrued liabilities are also affected by the timing of certain other payments . for example , while annual cash incentive awards are accrued throughout the year , they are generally paid during the first quarter of the subsequent year . investing activities net cash used in investing activities during 2013 primarily relates to payments for capital expenditures and acquisitions . capital expenditures of $ 173.0 relate primarily to computer hardware and software and leasehold improvements . we made payments of $ 61.5 related to acquisitions completed during 2013. .

string

working_capital_2013 = 283.6 working_capital_2012 = 235.7 change = working_capital_2013 - working_capital_2012 answer = change

what amount of long-term debt is due in the next 24 months for entergy corporation as of december 31 , 2016 , in millions?

1135.5

CodeFinQA

entergy corporation and subsidiaries notes to financial statements ( a ) consists of pollution control revenue bonds and environmental revenue bonds , some of which are secured by collateral first mortgage bonds . ( b ) these notes do not have a stated interest rate , but have an implicit interest rate of 4.8% ( 4.8 % ) . ( c ) pursuant to the nuclear waste policy act of 1982 , entergy 2019s nuclear owner/licensee subsidiaries have contracts with the doe for spent nuclear fuel disposal service . the contracts include a one-time fee for generation prior to april 7 , 1983 . entergy arkansas is the only entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee , plus accrued interest , in long-term debt . ( d ) see note 10 to the financial statements for further discussion of the waterford 3 lease obligation and entergy louisiana 2019s acquisition of the equity participant 2019s beneficial interest in the waterford 3 leased assets and for further discussion of the grand gulf lease obligation . ( e ) this note does not have a stated interest rate , but has an implicit interest rate of 7.458% ( 7.458 % ) . ( f ) the fair value excludes lease obligations of $ 57 million at entergy louisiana and $ 34 million at system energy , and long-term doe obligations of $ 182 million at entergy arkansas , and includes debt due within one year . fair values are classified as level 2 in the fair value hierarchy discussed in note 15 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades . the annual long-term debt maturities ( excluding lease obligations and long-term doe obligations ) for debt outstanding as of december 31 , 2016 , for the next five years are as follows : amount ( in thousands ) . | | Amount (In Thousands) | | :--- | :--- | | 2017 | $307,403 | | 2018 | $828,084 | | 2019 | $724,899 | | 2020 | $795,000 | | 2021 | $1,674,548 | in november 2000 , entergy 2019s non-utility nuclear business purchased the fitzpatrick and indian point 3 power plants in a seller-financed transaction . as part of the purchase agreement with nypa , entergy recorded a liability representing the net present value of the payments entergy would be liable to nypa for each year that the fitzpatrick and indian point 3 power plants would run beyond their respective original nrc license expiration date . in october 2015 , entergy announced a planned shutdown of fitzpatrick at the end of its fuel cycle . as a result of the announcement , entergy reduced this liability by $ 26.4 million pursuant to the terms of the purchase agreement . in august 2016 , entergy entered into a trust transfer agreement with nypa to transfer the decommissioning trust funds and decommissioning liabilities for the indian point 3 and fitzpatrick plants to entergy . as part of the trust transfer agreement , the original decommissioning agreements were amended , and the entergy subsidiaries 2019 obligation to make additional license extension payments to nypa was eliminated . in the third quarter 2016 , entergy removed the note payable of $ 35.1 million from the consolidated balance sheet . entergy louisiana , entergy mississippi , entergy texas , and system energy have obtained long-term financing authorizations from the ferc that extend through october 2017 . entergy arkansas has obtained long-term financing authorization from the apsc that extends through december 2018 . entergy new orleans has obtained long-term financing authorization from the city council that extends through june 2018 . capital funds agreement pursuant to an agreement with certain creditors , entergy corporation has agreed to supply system energy with sufficient capital to : 2022 maintain system energy 2019s equity capital at a minimum of 35% ( 35 % ) of its total capitalization ( excluding short- term debt ) ; .

string

debt_due_in_next_24_months = 307403 + 828084 answer = debt_due_in_next_24_months / 1000

what was the ratio of the increase in the net income in 2011 compared to 2010

3.9000000954

CodeFinQA

entergy mississippi , inc . management 2019s financial discussion and analysis plan to spin off the utility 2019s transmission business see the 201cplan to spin off the utility 2019s transmission business 201d section of entergy corporation and subsidiaries management 2019s financial discussion and analysis for a discussion of this matter , including the planned retirement of debt and preferred securities . results of operations net income 2011 compared to 2010 net income increased $ 23.4 million primarily due to a lower effective income tax rate . 2010 compared to 2009 net income increased $ 6.0 million primarily due to higher net revenue and higher other income , partially offset by higher taxes other than income taxes , higher depreciation and amortization expenses , and higher interest expense . net revenue 2011 compared to 2010 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges ( credits ) . following is an analysis of the change in net revenue comparing 2011 to 2010 . amount ( in millions ) . | | Amount (In Millions) | | :--- | :--- | | 2010 net revenue | $555.3 | | Volume/weather | (4.5) | | Transmission equalization | 4.5 | | Other | (0.4) | | 2011 net revenue | $554.9 | the volume/weather variance is primarily due to a decrease of 97 gwh in weather-adjusted usage in the residential and commercial sectors and a decrease in sales volume in the unbilled sales period . the transmission equalization variance is primarily due to the addition in 2011 of transmission investments that are subject to equalization . gross operating revenues and fuel and purchased power expenses gross operating revenues increased primarily due to an increase of $ 57.5 million in gross wholesale revenues due to an increase in sales to affiliated customers , partially offset by a decrease of $ 26.9 million in power management rider revenue . fuel and purchased power expenses increased primarily due to an increase in deferred fuel expense as a result of higher fuel revenues due to higher fuel rates , partially offset by a decrease in the average market prices of natural gas and purchased power. .

string

net_income_increase_2011 = 23.4 net_income_2011 = 6 net_income_increase_ratio = net_income_increase_2011 / net_income_2011 answer = net_income_increase_ratio

\\nin june 2015 what was the percent of the five-year notes due 2020 with a coupon of 3% ( 3 % ) of senior notes in a registered public offering

44.4000015259

CodeFinQA

our operating cash flows are significantly impacted by the seasonality of our businesses . we typically generate most of our operating cash flow in the third and fourth quarters of each year . in june 2015 , we issued $ 900 million of senior notes in a registered public offering . the senior notes consist of two tranches : $ 400 million of five-year notes due 2020 with a coupon of 3% ( 3 % ) and $ 500 million of ten-year notes due 2025 with a coupon of 4% ( 4 % ) . we used the proceeds from the senior notes offering to pay down our revolving credit facility and for general corporate purposes . on december 31 , 2017 , the outstanding amount of the senior notes , net of underwriting commissions and price discounts , was $ 892.6 million . cash flows below is a summary of cash flows for the years ended december 31 , 2017 , 2016 and 2015 . ( in millions ) 2017 2016 2015 . | <i>(In millions)</i> | 2017 | 2016 | 2015 | | :--- | :--- | :--- | :--- | | Net cash provided by operating activities | $600.3 | $650.5 | $429.2 | | Net cash used in investing activities | (287.7) | (385.1) | (766.6) | | Net cash (used in) provided by financing activities | (250.1) | (250.4) | 398.8 | | Effect of foreign exchange rate changes on cash | 9.0 | (2.0) | (14.8) | | Net increase in cash and cash equivalents | $71.5 | $13.0 | $46.6 | net cash provided by operating activities was $ 600.3 million in 2017 compared to $ 650.5 million in 2016 and $ 429.2 million in 2015 . the $ 50.2 million decrease in cash provided by operating activities from 2017 to 2016 was primarily due to higher build in working capital , primarily driven by higher inventory purchases in 2017 , partially offset by a higher net income . the $ 221.3 million increase in cash provided by operating activities from 2015 to 2016 was primarily due to a reduction in working capital in 2016 compared to 2015 and higher net income . net cash used in investing activities was $ 287.7 million in 2017 compared to $ 385.1 million in 2016 and $ 766.6 million in 2015 . the decrease of $ 97.4 million from 2016 to 2017 was primarily due lower cost of acquisitions of $ 115.1 million , partially offset by $ 15.7 million of higher capital expenditures . the decrease of $ 381.5 million from 2015 to 2016 was primarily due the decrease in cost of acquisitions of $ 413.1 million , partially offset by $ 20.8 million of higher capital spending . net cash used in financing activities was $ 250.1 million in 2017 compared to net cash used in financing activities of $ 250.4 million in 2016 and net cash provided by in financing activities of $ 398.8 million in 2015 . the change of $ 649.2 million in 2016 compared to 2015 was primarily due to $ 372.8 million of higher share repurchases and lower net borrowings of $ 240.8 million . pension plans subsidiaries of fortune brands sponsor their respective defined benefit pension plans that are funded by a portfolio of investments maintained within our benefit plan trust . in 2017 , 2016 and 2015 , we contributed $ 28.4 million , zero and $ 2.3 million , respectively , to qualified pension plans . in 2018 , we expect to make pension contributions of approximately $ 12.8 million . as of december 31 , 2017 , the fair value of our total pension plan assets was $ 656.6 million , representing funding of 79% ( 79 % ) of the accumulated benefit obligation liability . for the foreseeable future , we believe that we have sufficient liquidity to meet the minimum funding that may be required by the pension protection act of 2006 . foreign exchange we have operations in various foreign countries , principally canada , china , mexico , the united kingdom , france , australia and japan . therefore , changes in the value of the related currencies affect our financial statements when translated into u.s . dollars. .

string

five_year_2020 = 400 ten_year_2025 = 500 total_notes = five_year_2020 + ten_year_2025 percent_due_2020 = five_year_2020 / total_notes answer = percent_due_2020 * 100

in 2018 as part of the strategic merchandise what was the ration of the grocery to the health and wellness products

5.0999999046

CodeFinQA

services like "walmart pickup" "pickup today" and in over 1100 "online grocery" pickup locations to provide an omni- channel offering to our customers . walmart u.s . also offers access to digital content and services including vudu . merchandise . walmart u.s . does business in three strategic merchandise units , listed below , across several store formats including supercenters , discount stores , neighborhood markets and other small store formats , as well as on our ecommerce websites . 2022 grocery consists of a full line of grocery items , including meat , produce , natural & organics , deli & bakery , dairy , frozen foods , alcoholic and nonalcoholic beverages , floral and dry grocery , as well as consumables such as health and beauty aids , baby products , household chemicals , paper goods and pet supplies ; 2022 health and wellness includes pharmacy , optical services , clinical services , and over-the-counter drugs and other medical products ; 2022 general merchandise includes : 25e6 entertainment ( e.g. , electronics , cameras and supplies , photo processing services , wireless , movies , music , video games and books ) ; 25e6 hardlines ( e.g. , stationery , automotive , hardware and paint , sporting goods , outdoor living and horticulture ) ; 25e6 apparel ( e.g. , apparel for women , girls , men , boys and infants , as well as shoes , jewelry and accessories ) ; and 25e6 home/seasonal ( e.g. , home furnishings , housewares and small appliances , bedding , home decor , toys , fabrics and crafts and seasonal merchandise ) . walmart u.s . also offers fuel and financial services and related products , including money orders , prepaid cards , wire transfers , money transfers , check cashing and bill payment . these services total less than 1% ( 1 % ) of annual net sales . brand name merchandise represents a significant portion of the merchandise sold in walmart u.s . we also market lines of merchandise under our private-label store brands , including : "adventure force" "autodrive" "blackweb" "equate" "everstart" "faded glory" "george" "great value" "holiday time" "hyper tough" "kid connection" "mainstays" "marketside" "my life as" "no boundaries" "ol' roy" "onn" "ozark trail" "parent's choice" "prima della" "pure balance" "sam's choice" "special kitty" "spring valley" "terra & sky" "time and tru" "way to celebrate" and "wonder nation." the company also markets lines of merchandise under licensed brands , some of which include : "better homes a0& gardens" "farberware" "russell" and "swisstech." the percentage of strategic merchandise unit net sales for walmart u.s. , including online sales , was as follows for fiscal 2018 , 2017 and 2016: . | | Fiscal Years Ended January 31, | | :--- | :--- | | STRATEGIC MERCHANDISE UNITS | 2018 | 2017 | 2016 | | Grocery | 56% | 56% | 56% | | Health and wellness | 11% | 11% | 11% | | General merchandise | 33% | 33% | 33% | | Total | 100% | 100% | 100% | periodically , revisions are made to the categorization of the components comprising our strategic merchandise units . when revisions are made , the previous periods' presentation is adjusted to maintain comparability . operations . many supercenters , discount stores and neighborhood markets are open 24 hours each day . a variety of payment methods are accepted at our stores and through our ecommerce websites and mobile commerce applications . seasonal aspects of operations . walmart u.s.'s business is seasonal to a certain extent due to calendar events and national and religious holidays , as well as different weather patterns . historically , its highest sales volume and segment operating income have occurred in the fiscal quarter ending january a031 . competition . walmart u.s . competes with both physical retailers operating discount , department , retail and wholesale grocers , drug , dollar , variety and specialty stores , supermarkets , hypermarkets and supercenter-type stores , and digital retailers , as well as catalog businesses . we also compete with others for desirable sites for new or relocated retail units . our ability to develop , open and operate units at the right locations and to deliver a customer-centric omni-channel experience largely determines our competitive position within the retail industry . we employ many programs designed to meet competitive pressures within our industry . these programs include the following : 2022 edlp : our pricing philosophy under which we price items at a low price every day so our customers trust that our prices will not change under frequent promotional activity ; 2022 edlc : everyday low cost is our commitment to control expenses so our cost savings can be passed along to our customers; .

string

grocery_sales_2018 = 56 total_sales_2018 = 11 percent_grocery_2018 = grocery_sales_2018 / total_sales_2018 answer = percent_grocery_2018

by what percentage did effects of foreign operations including foreign tax credits increase from 2004 to 2006?

1880

CodeFinQA

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% | | Effects of foreign operations, including foreign tax credits | 9.9 | (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) | (0.4) | (0.9) | | Effective income tax rate for continuing operations | 44.8% | 36.3% | 36.2% | .

string

foreign_tax_credits_increase = 9.9 foreign_tax_credits_decrease = 0.5 foreign_tax_credits_change = foreign_tax_credits_increase - foreign_tax_credits_decrease percent_change = foreign_tax_credits_change / foreign_tax_credits_decrease answer = percent_change * 100

what is the difference in millions , between additional collateral or termination payments for a two-notch downgrade and additional collateral or termination payments for a one-notch downgrade at the end of december 2013?

2078

CodeFinQA

management 2019s discussion and analysis we believe our credit ratings are primarily based on the credit rating agencies 2019 assessment of : 2030 our liquidity , market , credit and operational risk management practices ; 2030 the level and variability of our earnings ; 2030 our capital base ; 2030 our franchise , reputation and management ; 2030 our corporate governance ; and 2030 the external operating environment , including the assumed level of government support . certain of the firm 2019s derivatives have been transacted under bilateral agreements with counterparties who may require us to post collateral or terminate the transactions based on changes in our credit ratings . we assess the impact of these bilateral agreements by determining the collateral or termination payments that would occur assuming a downgrade by all rating agencies . a downgrade by any one rating agency , depending on the agency 2019s relative ratings of the firm at the time of the downgrade , may have an impact which is comparable to the impact of a downgrade by all rating agencies . we allocate a portion of our gce to ensure we would be able to make the additional collateral or termination payments that may be required in the event of a two-notch reduction in our long-term credit ratings , as well as collateral that has not been called by counterparties , but is available to them . the table below presents the additional collateral or termination payments related to our net derivative liabilities under bilateral agreements that could have been called at the reporting date by counterparties in the event of a one-notch and two-notch downgrade in our credit ratings. . | | As of December | | :--- | :--- | | <i>in millions</i> | 2013 | 2012 | | Additional collateral or termination payments for a one-notch downgrade | $ 911 | $1,534 | | Additional collateral or termination payments for a two-notch downgrade | 2,989 | 2,500 | in millions 2013 2012 additional collateral or termination payments for a one-notch downgrade $ 911 $ 1534 additional collateral or termination payments for a two-notch downgrade 2989 2500 cash flows as a global financial institution , our cash flows are complex and bear little relation to our net earnings and net assets . consequently , we believe that traditional cash flow analysis is less meaningful in evaluating our liquidity position than the excess liquidity and asset-liability management policies described above . cash flow analysis may , however , be helpful in highlighting certain macro trends and strategic initiatives in our businesses . year ended december 2013 . our cash and cash equivalents decreased by $ 11.54 billion to $ 61.13 billion at the end of 2013 . we generated $ 4.54 billion in net cash from operating activities . we used net cash of $ 16.08 billion for investing and financing activities , primarily to fund loans held for investment and repurchases of common stock . year ended december 2012 . our cash and cash equivalents increased by $ 16.66 billion to $ 72.67 billion at the end of 2012 . we generated $ 9.14 billion in net cash from operating and investing activities . we generated $ 7.52 billion in net cash from financing activities from an increase in bank deposits , partially offset by net repayments of unsecured and secured long-term borrowings . year ended december 2011 . our cash and cash equivalents increased by $ 16.22 billion to $ 56.01 billion at the end of 2011 . we generated $ 23.13 billion in net cash from operating and investing activities . we used net cash of $ 6.91 billion for financing activities , primarily for repurchases of our series g preferred stock and common stock , partially offset by an increase in bank deposits . goldman sachs 2013 annual report 89 .

string

one_notch_downgrade = 911 two_notch_downgrade = 2989 difference = two_notch_downgrade - one_notch_downgrade answer = difference

what was the percent of the increase in other income other income for the utility from 2005 to 2006

40.5

CodeFinQA

e nt e r g y c o r p o r a t i o n a n d s u b s i d i a r i e s 2 0 0 7 n an increase of $ 16 million in fossil operating costs due to the purchase of the attala plant in january 2006 and the perryville plant coming online in july 2005 ; n an increase of $ 12 million related to storm reserves . this increase does not include costs associated with hurricanes katrina and rita ; and n an increase of $ 12 million due to a return to normal expense patterns in 2006 versus the deferral or capitalization of storm costs in 2005 . other operation and maintenance expenses increased for non- utility nuclear from $ 588 million in 2005 to $ 637 million in 2006 primarily due to the timing of refueling outages , increased benefit and insurance costs , and increased nrc fees . taxes other than income taxes taxes other than income taxes increased for the utility from $ 322 million in 2005 to $ 361 million in 2006 primarily due to an increase in city franchise taxes in arkansas due to a change in 2006 in the accounting for city franchise tax revenues as directed by the apsc . the change results in an increase in taxes other than income taxes with a corresponding increase in rider revenue , resulting in no effect on net income . also contributing to the increase was higher franchise tax expense at entergy gulf states , inc . as a result of higher gross revenues in 2006 and a customer refund in 2005 . other income other income increased for the utility from $ 111 million in 2005 to $ 156 million in 2006 primarily due to carrying charges recorded on storm restoration costs . other income increased for non-utility nuclear primarily due to miscellaneous income of $ 27 million ( $ 16.6 million net-of-tax ) resulting from a reduction in the decommissioning liability for a plant as a result of a revised decommissioning cost study and changes in assumptions regarding the timing of when decommissioning of a plant will begin . other income increased for parent & other primarily due to a gain related to its entergy-koch investment of approximately $ 55 million ( net-of-tax ) in the fourth quarter of 2006 . in 2004 , entergy-koch sold its energy trading and pipeline businesses to third parties . at that time , entergy received $ 862 million of the sales proceeds in the form of a cash distribution by entergy-koch . due to the november 2006 expiration of contingencies on the sale of entergy-koch 2019s trading business , and the corresponding release to entergy-koch of sales proceeds held in escrow , entergy received additional cash distributions of approximately $ 163 million during the fourth quarter of 2006 and recorded a gain of approximately $ 55 million ( net-of-tax ) . entergy expects future cash distributions upon liquidation of the partnership will be less than $ 35 million . interest charges interest charges increased for the utility and parent & other primarily due to additional borrowing to fund the significant storm restoration costs associated with hurricanes katrina and rita . discontinued operations in april 2006 , entergy sold the retail electric portion of the competitive retail services business operating in the electric reliability council of texas ( ercot ) region of texas , and now reports this portion of the business as a discontinued operation . earnings for 2005 were negatively affected by $ 44.8 million ( net-of-tax ) of discontinued operations due to the planned sale . this amount includes a net charge of $ 25.8 million ( net-of-tax ) related to the impairment reserve for the remaining net book value of the competitive retail services business 2019 information technology systems . results for 2006 include an $ 11.1 million gain ( net-of-tax ) on the sale of the retail electric portion of the competitive retail services business operating in the ercot region of texas . income taxes the effective income tax rates for 2006 and 2005 were 27.6% ( 27.6 % ) and 36.6% ( 36.6 % ) , respectively . the lower effective income tax rate in 2006 is primarily due to tax benefits , net of reserves , resulting from the tax capital loss recognized in connection with the liquidation of entergy power international holdings , entergy 2019s holding company for entergy-koch . also contributing to the lower rate for 2006 is an irs audit settlement that allowed entergy to release from its tax reserves all settled issues relating to 1996-1998 audit cycle . see note 3 to the financial statements for a reconciliation of the federal statutory rate of 35.0% ( 35.0 % ) to the effective income tax rates , and for additional discussion regarding income taxes . liquidity and capital resources this section discusses entergy 2019s capital structure , capital spending plans and other uses of capital , sources of capital , and the cash flow activity presented in the cash flow statement . capital structure entergy 2019s capitalization is balanced between equity and debt , as shown in the following table . the increase in the debt to capital percentage from 2006 to 2007 is primarily the result of additional borrowings under entergy corporation 2019s revolving credit facility , along with a decrease in shareholders 2019 equity primarily due to repurchases of common stock . this increase in the debt to capital percentage is in line with entergy 2019s financial and risk management aspirations . the decrease in the debt to capital percentage from 2005 to 2006 is the result of an increase in shareholders 2019 equity , primarily due to an increase in retained earnings , partially offset by repurchases of common stock. . | | 2007 | 2006 | 2005 | | :--- | :--- | :--- | :--- | | Net debt to net capital at the end of the year | 54.6% | 49.4% | 51.5% | | Effect of subtracting cash from debt | 3.0% | 2.9% | 1.6% | | Debt to capital at the end of the year | 57.6% | 52.3% | 53.1% | net debt consists of debt less cash and cash equivalents . debt consists of notes payable , capital lease obligations , preferred stock with sinking fund , and long-term debt , including the currently maturing portion . capital consists of debt , shareholders 2019 equity , and preferred stock without sinking fund . net capital consists of capital less cash and cash equivalents . entergy uses the net debt to net capital ratio in analyzing its financial condition and believes it provides useful information to its investors and creditors in evaluating entergy 2019s financial condition . m an ag e ment 2019s f i n anc ial d i scuss ion an d an alys is co n t i n u e d .

string

other_income_2006 = 156 other_income_2005 = 111 change = other_income_2006 - other_income_2005 percent_change = change / other_income_2005 answer = percent_change * 100

what is the percent of the total company 2019s aggregate contractual obligations due for property and casualty obligations in less than 1 year

26.3999996185

CodeFinQA

the following table identifies the company 2019s aggregate contractual obligations due by payment period : payments due by period . | | Total | Less than 1 year | 1-3 years | 3-5 years | More than 5 years | | :--- | :--- | :--- | :--- | :--- | :--- | | Property and casualty obligations [1] | $21,885 | $5,777 | $6,150 | $3,016 | $6,942 | | Life, annuity and disability obligations [2] | 281,998 | 18,037 | 37,318 | 40,255 | 186,388 | | Long-term debt obligations [3] | 9,093 | 536 | 1,288 | 1,613 | 5,656 | | Operating lease obligations | 723 | 175 | 285 | 162 | 101 | | Purchase obligations [4] [5] | 1,764 | 1,614 | 120 | 14 | 16 | | Other long-term liabilities reflected onthe balance sheet [6] [7] | 1,642 | 1,590 | — | 52 | — | | Total | $317,105 | $27,729 | $45,161 | $45,112 | $199,103 | [1] the following points are significant to understanding the cash flows estimated for obligations under property and casualty contracts : reserves for property & casualty unpaid claim and claim adjustment expenses include case reserves for reported claims and reserves for claims incurred but not reported ( ibnr ) . while payments due on claim reserves are considered contractual obligations because they relate to insurance policies issued by the company , the ultimate amount to be paid to settle both case reserves and ibnr is an estimate , subject to significant uncertainty . the actual amount to be paid is not determined until the company reaches a settlement with the claimant . final claim settlements may vary significantly from the present estimates , particularly since many claims will not be settled until well into the future . in estimating the timing of future payments by year , the company has assumed that its historical payment patterns will continue . however , the actual timing of future payments will likely vary materially from these estimates due to , among other things , changes in claim reporting and payment patterns and large unanticipated settlements . in particular , there is significant uncertainty over the claim payment patterns of asbestos and environmental claims . also , estimated payments in 2005 do not include payments that will be made on claims incurred in 2005 on policies that were in force as of december 31 , 2004 . in addition , the table does not include future cash flows related to the receipt of premiums that will be used , in part , to fund loss payments . under generally accepted accounting principles , the company is only permitted to discount reserves for claim and claim adjustment expenses in cases where the payment pattern and ultimate loss costs are fixed and reliably determinable on an individual claim basis . for the company , these include claim settlements with permanently disabled claimants and certain structured settlement contracts that fund loss runoffs for unrelated parties . as of december 31 , 2004 , the total property and casualty reserves in the above table of $ 21885 are gross of the reserve discount of $ 556 . [2] estimated life , annuity and disability obligations include death and disability claims , policy surrenders , policyholder dividends and trail commissions offset by expected future deposits and premiums on in-force contracts . estimated contractual policyholder obligations are based on mortality , morbidity and lapse assumptions comparable with life 2019s historical experience , modified for recent observed trends . life has also assumed market growth and interest crediting consistent with assumptions used in amortizing deferred acquisition costs . in contrast to this table , the majority of life 2019s obligations are recorded on the balance sheet at the current account value , as described in critical accounting estimates , and do not incorporate an expectation of future market growth , interest crediting , or future deposits . therefore , the estimated contractual policyholder obligations presented in this table significantly exceed the liabilities recorded in reserve for future policy benefits and unpaid claims and claim adjustment expenses , other policyholder funds and benefits payable and separate account liabilities . due to the significance of the assumptions used , the amounts presented could materially differ from actual results . as separate account obligations are legally insulated from general account obligations , the separate account obligations will be fully funded by cash flows from separate account assets . life expects to fully fund the general account obligations from cash flows from general account investments and future deposits and premiums . [3] includes contractual principal and interest payments . payments exclude amounts associated with fair-value hedges of certain of the company 2019s long-term debt . all long-term debt obligations have fixed rates of interest . long-term debt obligations also includes principal and interest payments of $ 700 and $ 2.4 billion , respectively , related to junior subordinated debentures which are callable beginning in 2006 . see note 14 of notes to consolidated financial statements for additional discussion of long-term debt obligations . [4] includes $ 1.4 billion in commitments to purchase investments including $ 330 of limited partnerships and $ 299 of mortgage loans . outstanding commitments under these limited partnerships and mortgage loans are included in payments due in less than 1 year since the timing of funding these commitments cannot be estimated . the remaining $ 759 relates to payables for securities purchased which are reflected on the company 2019s consolidated balance sheet . [5] includes estimated contribution of $ 200 to the company 2019s pension plan in 2005 . [6] as of december 31 , 2004 , the company has accepted cash collateral of $ 1.6 billion in connection with the company 2019s securities lending program and derivative instruments . since the timing of the return of the collateral is uncertain , the return of the collateral has been included in the payments due in less than 1 year . [7] includes $ 52 in collateralized loan obligations ( 201cclos 201d ) issued to third-party investors by a consolidated investment management entity sponsored by the company in connection with synthetic clo transactions . the clo investors have no recourse to the company 2019s assets other than the dedicated assets collateralizing the clos . refer to note 4 of notes to consolidated financial statements for additional discussion of .

string

property_casualty_obligations = 5777 total_obligations = 21885 percent_property_casualty_obligations = property_casualty_obligations / total_obligations answer = percent_property_casualty_obligations * 100

what is the growth rate in the balance of unrecognized tax benefits during 2011?

4.3000001907

CodeFinQA

a valuation allowance has been established for certain deferred tax assets related to the impairment of investments . accounting for uncertainty in income taxes during fiscal 2011 and 2010 , our aggregate changes in our total gross amount of unrecognized tax benefits are summarized as follows ( in thousands ) : beginning balance gross increases in unrecognized tax benefits 2013 prior year tax positions gross decreases in unrecognized tax benefits 2013 prior year tax positions gross increases in unrecognized tax benefits 2013 current year tax positions settlements with taxing authorities lapse of statute of limitations foreign exchange gains and losses ending balance $ 156925 11901 ( 4154 ) 32420 ( 29101 ) ( 3825 ) $ 163607 $ 218040 ( 7104 ) 15108 ( 70484 ) ( 7896 ) $ 156925 as of december 2 , 2011 , the combined amount of accrued interest and penalties related to tax positions taken on our tax returns and included in non-current income taxes payable was approximately $ 12.3 million . we file income tax returns in the u.s . on a federal basis and in many u.s . state and foreign jurisdictions . we are subject to the continual examination of our income tax returns by the irs and other domestic and foreign tax authorities . our major tax jurisdictions are the u.s. , ireland and california . for california , ireland and the u.s. , the earliest fiscal years open for examination are 2005 , 2006 and 2008 , respectively . we regularly assess the likelihood of outcomes resulting from these examinations to determine the adequacy of our provision for income taxes and have reserved for potential adjustments that may result from the current examination . we believe such estimates to be reasonable ; however , there can be no assurance that the final determination of any of these examinations will not have an adverse effect on our operating results and financial position . in august 2011 , a canadian income tax examination covering our fiscal years 2005 through 2008 was completed . our accrued tax and interest related to these years was approximately $ 35 million and was previously reported in long-term income taxes payable . we reclassified approximately $ 17 million to short-term income taxes payable and decreased deferred tax assets by approximately $ 18 million in conjunction with the aforementioned resolution . the $ 17 million balance in short-term income taxes payable is partially secured by a letter of credit and is expected to be paid by the first quarter of fiscal 2012 . in october 2010 , a u.s . income tax examination covering our fiscal years 2005 through 2007 was completed . our accrued tax and interest related to these years was $ 59 million and was previously reported in long-term income taxes payable . we paid $ 20 million in conjunction with the aforementioned resolution . a net income statement tax benefit in the fourth quarter of fiscal 2010 of $ 39 million resulted . the timing of the resolution of income tax examinations is highly uncertain as are the amounts and timing of tax payments that are part of any audit settlement process . these events could cause large fluctuations in the balance sheet classification of current and non-current assets and liabilities . the company believes that before the end of fiscal 2012 , it is reasonably possible that either certain audits will conclude or statutes of limitations on certain income tax examination periods will expire , or both . given the uncertainties described above , we can only determine a range of estimated potential decreases in underlying unrecognized tax benefits ranging from $ 0 to approximately $ 40 million . these amounts would decrease income tax expense under current gaap related to income taxes . note 11 . restructuring fiscal 2011 restructuring plan in the fourth quarter of fiscal 2011 , in order to better align our resources around our digital media and digital marketing strategies , we initiated a restructuring plan consisting of reductions of approximately 700 full-time positions worldwide and we recorded restructuring charges of approximately $ 78.6 million related to ongoing termination benefits for the position eliminated . table of contents adobe systems incorporated notes to consolidated financial statements ( continued ) . | | 2011 | 2010 | | :--- | :--- | :--- | | Beginning balance | $156,925 | $218,040 | | Gross increases in unrecognized tax benefits – prior year tax positions | 11,901 | 9,580 | | Gross decreases in unrecognized tax benefits – prior year tax positions | (4,154) | (7,104) | | Gross increases in unrecognized tax benefits – current year tax positions | 32,420 | 15,108 | | Settlements with taxing authorities | (29,101) | (70,484) | | Lapse of statute of limitations | (3,825) | (7,896) | | Foreign exchange gains and losses | (559) | (319) | | Ending balance | $163,607 | $156,925 | a valuation allowance has been established for certain deferred tax assets related to the impairment of investments . accounting for uncertainty in income taxes during fiscal 2011 and 2010 , our aggregate changes in our total gross amount of unrecognized tax benefits are summarized as follows ( in thousands ) : beginning balance gross increases in unrecognized tax benefits 2013 prior year tax positions gross decreases in unrecognized tax benefits 2013 prior year tax positions gross increases in unrecognized tax benefits 2013 current year tax positions settlements with taxing authorities lapse of statute of limitations foreign exchange gains and losses ending balance $ 156925 11901 ( 4154 ) 32420 ( 29101 ) ( 3825 ) $ 163607 $ 218040 ( 7104 ) 15108 ( 70484 ) ( 7896 ) $ 156925 as of december 2 , 2011 , the combined amount of accrued interest and penalties related to tax positions taken on our tax returns and included in non-current income taxes payable was approximately $ 12.3 million . we file income tax returns in the u.s . on a federal basis and in many u.s . state and foreign jurisdictions . we are subject to the continual examination of our income tax returns by the irs and other domestic and foreign tax authorities . our major tax jurisdictions are the u.s. , ireland and california . for california , ireland and the u.s. , the earliest fiscal years open for examination are 2005 , 2006 and 2008 , respectively . we regularly assess the likelihood of outcomes resulting from these examinations to determine the adequacy of our provision for income taxes and have reserved for potential adjustments that may result from the current examination . we believe such estimates to be reasonable ; however , there can be no assurance that the final determination of any of these examinations will not have an adverse effect on our operating results and financial position . in august 2011 , a canadian income tax examination covering our fiscal years 2005 through 2008 was completed . our accrued tax and interest related to these years was approximately $ 35 million and was previously reported in long-term income taxes payable . we reclassified approximately $ 17 million to short-term income taxes payable and decreased deferred tax assets by approximately $ 18 million in conjunction with the aforementioned resolution . the $ 17 million balance in short-term income taxes payable is partially secured by a letter of credit and is expected to be paid by the first quarter of fiscal 2012 . in october 2010 , a u.s . income tax examination covering our fiscal years 2005 through 2007 was completed . our accrued tax and interest related to these years was $ 59 million and was previously reported in long-term income taxes payable . we paid $ 20 million in conjunction with the aforementioned resolution . a net income statement tax benefit in the fourth quarter of fiscal 2010 of $ 39 million resulted . the timing of the resolution of income tax examinations is highly uncertain as are the amounts and timing of tax payments that are part of any audit settlement process . these events could cause large fluctuations in the balance sheet classification of current and non-current assets and liabilities . the company believes that before the end of fiscal 2012 , it is reasonably possible that either certain audits will conclude or statutes of limitations on certain income tax examination periods will expire , or both . given the uncertainties described above , we can only determine a range of estimated potential decreases in underlying unrecognized tax benefits ranging from $ 0 to approximately $ 40 million . these amounts would decrease income tax expense under current gaap related to income taxes . note 11 . restructuring fiscal 2011 restructuring plan in the fourth quarter of fiscal 2011 , in order to better align our resources around our digital media and digital marketing strategies , we initiated a restructuring plan consisting of reductions of approximately 700 full-time positions worldwide and we recorded restructuring charges of approximately $ 78.6 million related to ongoing termination benefits for the position eliminated . table of contents adobe systems incorporated notes to consolidated financial statements ( continued ) .

string

growth_rate = (163607 - 156925) / 156925 answer = growth_rate * 100

in 2018 what was the ratio of the impact to the fair market value of the 10% ( 10 % ) increase in interest rates to the 10% ( 10 % ) decrease in interest rates 3 2018

1.1000000238

CodeFinQA

item 7a . quantitative and qualitative disclosures about market risk ( amounts in millions ) in the normal course of business , we are exposed to market risks related to interest rates , foreign currency rates and certain balance sheet items . from time to time , we use derivative instruments , pursuant to established guidelines and policies , to manage some portion of these risks . derivative instruments utilized in our hedging activities are viewed as risk management tools and are not used for trading or speculative purposes . interest rates our exposure to market risk for changes in interest rates relates primarily to the fair market value and cash flows of our debt obligations . the majority of our debt ( approximately 86% ( 86 % ) and 94% ( 94 % ) as of december 31 , 2018 and 2017 , respectively ) bears interest at fixed rates . we do have debt with variable interest rates , but a 10% ( 10 % ) increase or decrease in interest rates would not be material to our interest expense or cash flows . the fair market value of our debt is sensitive to changes in interest rates , and the impact of a 10% ( 10 % ) change in interest rates is summarized below . increase/ ( decrease ) in fair market value as of december 31 , 10% ( 10 % ) increase in interest rates 10% ( 10 % ) decrease in interest rates . | | Increase/(Decrease)in Fair Market Value | | :--- | :--- | | As of December 31, | 10% Increasein Interest Rates | 10% Decreasein Interest Rates | | 2018 | $(91.3) | $82.5 | | 2017 | (20.2) | 20.6 | we have used interest rate swaps for risk management purposes to manage our exposure to changes in interest rates . we did not have any interest rate swaps outstanding as of december 31 , 2018 . we had $ 673.5 of cash , cash equivalents and marketable securities as of december 31 , 2018 that we generally invest in conservative , short-term bank deposits or securities . the interest income generated from these investments is subject to both domestic and foreign interest rate movements . during 2018 and 2017 , we had interest income of $ 21.8 and $ 19.4 , respectively . based on our 2018 results , a 100 basis-point increase or decrease in interest rates would affect our interest income by approximately $ 6.7 , assuming that all cash , cash equivalents and marketable securities are impacted in the same manner and balances remain constant from year-end 2018 levels . foreign currency rates we are subject to translation and transaction risks related to changes in foreign currency exchange rates . since we report revenues and expenses in u.s . dollars , changes in exchange rates may either positively or negatively affect our consolidated revenues and expenses ( as expressed in u.s . dollars ) from foreign operations . the foreign currencies that most favorably impacted our results during the year ended december 31 , 2018 were the euro and british pound sterling . the foreign currencies that most adversely impacted our results during the year ended december 31 , of 2018 were the argentine peso and brazilian real . based on 2018 exchange rates and operating results , if the u.s . dollar were to strengthen or weaken by 10% ( 10 % ) , we currently estimate operating income would decrease or increase approximately 4% ( 4 % ) , assuming that all currencies are impacted in the same manner and our international revenue and expenses remain constant at 2018 levels . the functional currency of our foreign operations is generally their respective local currency . assets and liabilities are translated at the exchange rates in effect at the balance sheet date , and revenues and expenses are translated at the average exchange rates during the period presented . the resulting translation adjustments are recorded as a component of accumulated other comprehensive loss , net of tax , in the stockholders 2019 equity section of our consolidated balance sheets . our foreign subsidiaries generally collect revenues and pay expenses in their functional currency , mitigating transaction risk . however , certain subsidiaries may enter into transactions in currencies other than their functional currency . assets and liabilities denominated in currencies other than the functional currency are susceptible to movements in foreign currency until final settlement . currency transaction gains or losses primarily arising from transactions in currencies other than the functional currency are included in office and general expenses . we regularly review our foreign exchange exposures that may have a material impact on our business and from time to time use foreign currency forward exchange contracts or other .

string

increase_in_fair_market_value = -91.3 decrease_in_fair_market_value = 82.5 ratio = increase_in_fair_market_value / decrease_in_fair_market_value answer = ratio

what percentage of revenue net of interest expense is due to non-interest revenue in 2010?

57

CodeFinQA

special asset pool special asset pool ( sap ) , which constituted approximately 22% ( 22 % ) of citi holdings by assets as of december 31 , 2010 , is a portfolio of securities , loans and other assets that citigroup intends to actively reduce over time through asset sales and portfolio run-off . at december 31 , 2010 , sap had $ 80 billion of assets . sap assets have declined by $ 248 billion , or 76% ( 76 % ) , from peak levels in 2007 reflecting cumulative write-downs , asset sales and portfolio run-off . in millions of dollars 2010 2009 2008 % ( % ) change 2010 vs . 2009 % ( % ) change 2009 vs . 2008 . | In millions of dollars | 2010 | 2009 | 2008 | % Change 2010 vs. 2009 | % Change 2009 vs. 2008 | | :--- | :--- | :--- | :--- | :--- | :--- | | Net interest revenue | $1,219 | $2,754 | $2,676 | (56)% | 3% | | Non-interest revenue | 1,633 | (6,014) | (42,375) | NM | 86 | | Revenues, net of interest expense | $2,852 | $(3,260) | $(39,699) | NM | 92% | | Total operating expenses | $548 | $824 | $893 | (33)% | (8)% | | Net credit losses | $2,013 | $5,399 | $906 | (63)% | NM | | Provision (releases) for unfunded lending commitments | (76) | 111 | (172) | NM | NM | | Credit reserve builds (releases) | (1,711) | (530) | 2,677 | NM | NM | | Provisions for credit losses and for benefits and claims | $226 | $4,980 | $3,411 | (95)% | 46% | | Income (loss) from continuing operations before taxes | $2,078 | $(9,064) | $(44,003) | NM | 79% | | Income taxes (benefits) | 905 | (3,695) | (16,714) | NM | 78 | | Net income (loss) from continuing operations | $1,173 | $(5,369) | $(27,289) | NM | 80% | | Net income (loss) attributable to noncontrolling interests | 188 | (16) | (205) | NM | 92 | | Net income (loss) | $985 | $(5,353) | $(27,084) | NM | 80% | | EOP assets(in billions of dollars) | $80 | $136 | $219 | (41)% | (38)% | nm not meaningful 2010 vs . 2009 revenues , net of interest expense increased $ 6.1 billion , primarily due to the improvement of revenue marks in 2010 . aggregate marks were negative $ 2.6 billion in 2009 as compared to positive marks of $ 3.4 billion in 2010 ( see 201citems impacting sap revenues 201d below ) . revenue in the current year included positive marks of $ 2.0 billion related to sub-prime related direct exposure , a positive $ 0.5 billion cva related to the monoline insurers , and $ 0.4 billion on private equity positions . these positive marks were partially offset by negative revenues of $ 0.5 billion on alt-a mortgages and $ 0.4 billion on commercial real estate . operating expenses decreased 33% ( 33 % ) in 2010 , mainly driven by the absence of the u.s . government loss-sharing agreement , lower compensation , and lower transaction expenses . provisions for credit losses and for benefits and claims decreased $ 4.8 billion due to a decrease in net credit losses of $ 3.4 billion and a higher release of loan loss reserves and unfunded lending commitments of $ 1.4 billion . assets declined 41% ( 41 % ) from the prior year , primarily driven by sales and amortization and prepayments . asset sales of $ 39 billion for the year of 2010 generated pretax gains of approximately $ 1.3 billion . 2009 vs . 2008 revenues , net of interest expense increased $ 36.4 billion in 2009 , primarily due to the absence of significant negative revenue marks occurring in the prior year . total negative marks were $ 2.6 billion in 2009 as compared to $ 37.4 billion in 2008 . revenue in 2009 included positive marks of $ 0.8 billion on subprime-related direct exposures . these positive revenues were partially offset by negative revenues of $ 1.5 billion on alt-a mortgages , $ 0.8 billion of write-downs on commercial real estate , and a negative $ 1.6 billion cva on the monoline insurers and fair value option liabilities . revenue was also affected by negative marks on private equity positions and write-downs on highly leveraged finance commitments . operating expenses decreased 8% ( 8 % ) in 2009 , mainly driven by lower compensation and lower volumes and transaction expenses , partially offset by costs associated with the u.s . government loss-sharing agreement exited in the fourth quarter of 2009 . provisions for credit losses and for benefits and claims increased $ 1.6 billion , primarily driven by $ 4.5 billion in increased net credit losses , partially offset by a lower provision for loan losses and unfunded lending commitments of $ 2.9 billion . assets declined 38% ( 38 % ) versus the prior year , primarily driven by amortization and prepayments , sales , marks and charge-offs. .

string

interest_revenue = 1633 non_interest_revenue = 2852 interest_revenue_percent = interest_revenue / non_interest_revenue answer = interest_revenue_percent * 100

what was non-interest expense as a percentage of revenue in 2003?

65

CodeFinQA

management 2019s discussion and analysis j.p . morgan chase & co . 22 j.p . morgan chase & co . / 2003 annual report overview j.p . morgan chase & co . is a leading global finan- cial services firm with assets of $ 771 billion and operations in more than 50 countries . the firm serves more than 30 million consumers nationwide through its retail businesses , and many of the world's most prominent corporate , institutional and government clients through its global whole- sale businesses . total noninterest expense was $ 21.7 billion , down 5% ( 5 % ) from the prior year . in 2002 , the firm recorded $ 1.3 billion of charges , princi- pally for enron-related surety litigation and the establishment of lit- igation reserves ; and $ 1.2 billion for merger and restructuring costs related to programs announced prior to january 1 , 2002 . excluding these costs , expenses rose by 7% ( 7 % ) in 2003 , reflecting higher per- formance-related incentives ; increased costs related to stock-based compensation and pension and other postretirement expenses ; and higher occupancy expenses . the firm began expensing stock options in 2003 . restructuring costs associated with initiatives announced after january 1 , 2002 , were recorded in their relevant expense categories and totaled $ 630 million in 2003 , down 29% ( 29 % ) from 2002 . the 2003 provision for credit losses of $ 1.5 billion was down $ 2.8 billion , or 64% ( 64 % ) , from 2002 . the provision was lower than total net charge-offs of $ 2.3 billion , reflecting significant improvement in the quality of the commercial loan portfolio . commercial nonperforming assets and criticized exposure levels declined 42% ( 42 % ) and 47% ( 47 % ) , respectively , from december 31 , 2002 . consumer credit quality remained stable . earnings per diluted share ( 201ceps 201d ) for the year were $ 3.24 , an increase of 305% ( 305 % ) over the eps of $ 0.80 reported in 2002 . results in 2002 were provided on both a reported basis and an operating basis , which excluded merger and restructuring costs and special items . operating eps in 2002 was $ 1.66 . see page 28 of this annual report for a reconciliation between reported and operating eps . summary of segment results the firm 2019s wholesale businesses are known globally as 201cjpmorgan , 201d and its national consumer and middle market busi- nesses are known as 201cchase . 201d the wholesale businesses com- prise four segments : the investment bank ( 201cib 201d ) , treasury & securities services ( 201ctss 201d ) , investment management & private banking ( 201cimpb 201d ) and jpmorgan partners ( 201cjpmp 201d ) . ib provides a full range of investment banking and commercial banking products and services , including advising on corporate strategy and structure , capital raising , risk management , and market-making in cash securities and derivative instruments in all major capital markets . the three businesses within tss provide debt servicing , securities custody and related functions , and treasury and cash management services to corporations , financial institutions and governments . the impb business provides invest- ment management services to institutional investors , high net worth individuals and retail customers and also provides person- alized advice and solutions to wealthy individuals and families . jpmp , the firm 2019s private equity business , provides equity and mez- zanine capital financing to private companies . the firm 2019s national consumer and middle market businesses , which provide lending and full-service banking to consumers and small and middle mar- ket businesses , comprise chase financial services ( 201ccfs 201d ) . financial performance of jpmorgan chase as of or for the year ended december 31 . | (in millions, except per share and ratio data) | 2003 | 2002 | Change | | :--- | :--- | :--- | :--- | | Revenue | $33,256 | $29,614 | 12% | | Noninterest expense | 21,688 | 22,764 | (5) | | Provision for credit losses | 1,540 | 4,331 | (64) | | Net income | 6,719 | 1,663 | 304 | | Net income per share – diluted | 3.24 | 0.80 | 305 | | Average common equity | 42,988 | 41,368 | 4 | | Return on average common equity (“ROCE”) | 16% | 4% | 1,200bp | | Tier 1 capital ratio | 8.5% | 8.2% | 30bp | | Total capital ratio | 11.8 | 12.0 | (20) | | Tier 1 leverage ratio | 5.6 | 5.1 | 50 | in 2003 , global growth strengthened relative to the prior two years . the u.s . economy improved significantly , supported by diminishing geopolitical uncertainties , new tax relief , strong profit growth , low interest rates and a rising stock market . productivity at u.s . businesses continued to grow at an extraor- dinary pace , as a result of ongoing investment in information technologies . profit margins rose to levels not seen in a long time . new hiring remained tepid , but signs of an improving job market emerged late in the year . inflation fell to the lowest level in more than 40 years , and the board of governors of the federal reserve system ( the 201cfederal reserve board 201d ) declared that its long-run goal of price stability had been achieved . against this backdrop , j.p . morgan chase & co . ( 201cjpmorgan chase 201d or the 201cfirm 201d ) reported 2003 net income of $ 6.7 bil- lion , compared with net income of $ 1.7 billion in 2002 . all five of the firm 2019s lines of business benefited from the improved eco- nomic conditions , with each reporting increased revenue over 2002 . in particular , the low 2013interest rate environment drove robust fixed income markets and an unprecedented mortgage refinancing boom , resulting in record earnings in the investment bank and chase financial services . total revenue for 2003 was $ 33.3 billion , up 12% ( 12 % ) from 2002 . the investment bank 2019s revenue increased by approximately $ 1.9 billion from 2002 , and chase financial services 2019 revenue was $ 14.6 billion in 2003 , another record year. .

string

noninterest_expense_percentage = 21688 / 33256 answer = noninterest_expense_percentage * 100

what is the growth rate in the deposits of clients from 2012 to 2013?

8.8000001907

CodeFinQA

management 2019s discussion and analysis of financial condition and results of operations ( continued ) funding deposits : we provide products and services including custody , accounting , administration , daily pricing , foreign exchange services , cash management , financial asset management , securities finance and investment advisory services . as a provider of these products and services , we generate client deposits , which have generally provided a stable , low-cost source of funds . as a global custodian , clients place deposits with state street entities in various currencies . we invest these client deposits in a combination of investment securities and short- duration financial instruments whose mix is determined by the characteristics of the deposits . for the past several years , we have experienced higher client deposit inflows toward the end of the quarter or the end of the year . as a result , we believe average client deposit balances are more reflective of ongoing funding than period-end balances . table 33 : client deposits average balance december 31 , year ended december 31 . | | December 31, | Average Balance Year Ended December 31, | | :--- | :--- | :--- | | (In millions) | 2014 | 2013 | 2014 | 2013 | | Client deposits⁽¹⁾ | $195,276 | $182,268 | $167,470 | $143,043 | client deposits ( 1 ) $ 195276 $ 182268 $ 167470 $ 143043 ( 1 ) balance as of december 31 , 2014 excluded term wholesale certificates of deposit , or cds , of $ 13.76 billion ; average balances for the year ended december 31 , 2014 and 2013 excluded average cds of $ 6.87 billion and $ 2.50 billion , respectively . short-term funding : our corporate commercial paper program , under which we can issue up to $ 3.0 billion of commercial paper with original maturities of up to 270 days from the date of issuance , had $ 2.48 billion and $ 1.82 billion of commercial paper outstanding as of december 31 , 2014 and 2013 , respectively . our on-balance sheet liquid assets are also an integral component of our liquidity management strategy . these assets provide liquidity through maturities of the assets , but more importantly , they provide us with the ability to raise funds by pledging the securities as collateral for borrowings or through outright sales . in addition , our access to the global capital markets gives us the ability to source incremental funding at reasonable rates of interest from wholesale investors . as discussed earlier under 201casset liquidity , 201d state street bank's membership in the fhlb allows for advances of liquidity with varying terms against high-quality collateral . short-term secured funding also comes in the form of securities lent or sold under agreements to repurchase . these transactions are short-term in nature , generally overnight , and are collateralized by high-quality investment securities . these balances were $ 8.93 billion and $ 7.95 billion as of december 31 , 2014 and 2013 , respectively . state street bank currently maintains a line of credit with a financial institution of cad $ 800 million , or approximately $ 690 million as of december 31 , 2014 , to support its canadian securities processing operations . the line of credit has no stated termination date and is cancelable by either party with prior notice . as of december 31 , 2014 , there was no balance outstanding on this line of credit . long-term funding : as of december 31 , 2014 , state street bank had board authority to issue unsecured senior debt securities from time to time , provided that the aggregate principal amount of such unsecured senior debt outstanding at any one time does not exceed $ 5 billion . as of december 31 , 2014 , $ 4.1 billion was available for issuance pursuant to this authority . as of december 31 , 2014 , state street bank also had board authority to issue an additional $ 500 million of subordinated debt . we maintain an effective universal shelf registration that allows for the public offering and sale of debt securities , capital securities , common stock , depositary shares and preferred stock , and warrants to purchase such securities , including any shares into which the preferred stock and depositary shares may be convertible , or any combination thereof . we have issued in the past , and we may issue in the future , securities pursuant to our shelf registration . the issuance of debt or equity securities will depend on future market conditions , funding needs and other factors . agency credit ratings our ability to maintain consistent access to liquidity is fostered by the maintenance of high investment-grade ratings as measured by the major independent credit rating agencies . factors essential to maintaining high credit ratings include diverse and stable core earnings ; relative market position ; strong risk management ; strong capital ratios ; diverse liquidity sources , including the global capital markets and client deposits ; strong liquidity monitoring procedures ; and preparedness for current or future regulatory developments . high ratings limit borrowing costs and enhance our liquidity by providing assurance for unsecured funding and depositors , increasing the potential market for our debt and improving our ability to offer products , serve markets , and engage in transactions in which clients value high credit ratings . a downgrade or reduction of our credit ratings could have a material adverse effect on our liquidity by restricting our ability to access the capital .

string

deposits_2013 = 182268 deposits_2014 = 167470 percent_change = (deposits_2013 - deposits_2014) / deposits_2014 answer = percent_change * 100

what is the anticipated cash dividend for each quarter in millions

6.25

CodeFinQA

item 4 . submission of matters to a vote of security holders no matters were submitted to a vote of security holders during the fourth quarter of 2005 . part ii item 5 . market for the registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities market information our series a common stock has traded on the new york stock exchange under the symbol 2018 2018ce 2019 2019 since january 21 , 2005 . the closing sale price of our series a common stock , as reported by the new york stock exchange , on march 6 , 2006 was $ 20.98 . the following table sets forth the high and low intraday sales prices per share of our common stock , as reported by the new york stock exchange , for the periods indicated. . | | PriceRange | | :--- | :--- | | 2005 | High | Low | | Quarterended March 31,2005 | $18.65 | $15.10 | | Quarter endedJune 30,2005 | $18.16 | $13.54 | | Quarter endedSeptember 30, 2005 | $20.06 | $15.88 | | Quarter endedDecember 31,2005 | $19.76 | $15.58 | holders no shares of celanese 2019s series b common stock are issued and outstanding . as of march 6 , 2006 , there were 51 holders of record of our series a common stock , and one holder of record of our perpetual preferred stock . by including persons holding shares in broker accounts under street names , however , we estimate our shareholder base to be approximately 6800 as of march 6 , 2006 . dividend policy in july 2005 , our board of directors adopted a policy of declaring , subject to legally available funds , a quarterly cash dividend on each share of our common stock at an annual rate initially equal to approximately 1% ( 1 % ) of the $ 16 price per share in the initial public offering of our series a common stock ( or $ 0.16 per share ) unless our board of directors , in its sole discretion , determines otherwise , commencing the second quarter of 2005 . pursuant to this policy , the company paid the quarterly dividends of $ 0.04 per share on august 11 , 2005 , november 1 , 2005 and february 1 , 2006 . based on the number of outstanding shares of our series a common stock , the anticipated annual cash dividend is approximately $ 25 million . however , there is no assurance that sufficient cash will be available in the future to pay such dividend . further , such dividends payable to holders of our series a common stock cannot be declared or paid nor can any funds be set aside for the payment thereof , unless we have paid or set aside funds for the payment of all accumulated and unpaid dividends with respect to the shares of our preferred stock , as described below . our board of directors may , at any time , modify or revoke our dividend policy on our series a common stock . we are required under the terms of the preferred stock to pay scheduled quarterly dividends , subject to legally available funds . for so long as the preferred stock remains outstanding , ( 1 ) we will not declare , pay or set apart funds for the payment of any dividend or other distribution with respect to any junior stock or parity stock and ( 2 ) neither we , nor any of our subsidiaries , will , subject to certain exceptions , redeem , purchase or otherwise acquire for consideration junior stock or parity stock through a sinking fund or otherwise , in each case unless we have paid or set apart funds for the payment of all accumulated and unpaid dividends with respect to the shares of preferred stock and any parity stock for all preceding dividend periods . pursuant to this policy , the company paid the quarterly dividends of $ 0.265625 on its 4.25% ( 4.25 % ) convertible perpetual preferred stock on august 1 , 2005 , november 1 , 2005 and february 1 , 2006 . the anticipated annual cash dividend is approximately $ 10 million. .

string

dividend_amount = 25 dividend_per_share = dividend_amount / 4 answer = dividend_per_share

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?

38.5400009155

CodeFinQA

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 .

string

a = 197.58 - 100 b = a / 100 c = 236.12 - 100 d = c / 100 e = a - c answer = e

for 2012 and 2013 , what was average foreign exchange income in millions?

93

CodeFinQA

simulations assume that as assets and liabilities mature , they are replaced or repriced at then current market rates . we also consider forward projections of purchase accounting accretion when forecasting net interest income . the following graph presents the libor/swap yield curves for the base rate scenario and each of the alternate scenarios one year forward . table 52 : alternate interest rate scenarios : one year forward base rates pnc economist market forward slope flattening 2y 3y 5y 10y the fourth quarter 2013 interest sensitivity analyses indicate that our consolidated balance sheet is positioned to benefit from an increase in interest rates and an upward sloping interest rate yield curve . we believe that we have the deposit funding base and balance sheet flexibility to adjust , where appropriate and permissible , to changing interest rates and market conditions . market risk management 2013 customer-related trading risk we engage in fixed income securities , derivatives and foreign exchange transactions to support our customers 2019 investing and hedging activities . these transactions , related hedges and the credit valuation adjustment ( cva ) related to our customer derivatives portfolio are marked-to-market on a daily basis and reported as customer-related trading activities . we do not engage in proprietary trading of these products . we use value-at-risk ( var ) as the primary means to measure and monitor market risk in customer-related trading activities . we calculate a diversified var at a 95% ( 95 % ) confidence interval . var is used to estimate the probability of portfolio losses based on the statistical analysis of historical market risk factors . a diversified var reflects empirical correlations across different asset classes . during 2013 , our 95% ( 95 % ) var ranged between $ 1.7 million and $ 5.5 million , averaging $ 3.5 million . during 2012 , our 95% ( 95 % ) var ranged between $ 1.1 million and $ 5.3 million , averaging $ 3.2 million . to help ensure the integrity of the models used to calculate var for each portfolio and enterprise-wide , we use a process known as backtesting . the backtesting process consists of comparing actual observations of gains or losses against the var levels that were calculated at the close of the prior day . this assumes that market exposures remain constant throughout the day and that recent historical market variability is a good predictor of future variability . our customer-related trading activity includes customer revenue and intraday hedging which helps to reduce losses , and may reduce the number of instances of actual losses exceeding the prior day var measure . there was one such instance during 2013 under our diversified var measure where actual losses exceeded the prior day var measure . in comparison , there were two such instances during 2012 . we use a 500 day look back period for backtesting and include customer-related revenue . the following graph shows a comparison of enterprise-wide gains and losses against prior day diversified var for the period indicated . table 53 : enterprise-wide gains/losses versus value-at- 12/31/12 1/31/13 2/28/13 3/31/13 4/30/13 5/31/13 6/30/13 7/31/13 8/31/13 9/30/13 10/31/13 11/30/13 12/31/13 total customer-related trading revenue was as follows : table 54 : customer-related trading revenue year ended december 31 in millions 2013 2012 . | Year ended December 31In millions | 2013 | 2012 | | :--- | :--- | :--- | | Net interest income | $31 | $38 | | Noninterest income | 286 | 272 | | Total customer-related trading revenue | $317 | $310 | | Securities underwriting and trading (a) | $78 | $100 | | Foreign exchange | 94 | 92 | | Financial derivatives and other | 145 | 118 | | Total customer-related trading revenue | $317 | $310 | ( a ) includes changes in fair value for certain loans accounted for at fair value . customer-related trading revenues for 2013 increased $ 7 million compared with 2012 . the increase primarily resulted from the impact of higher market interest rates on credit valuations for customer-related derivatives activities and improved debt underwriting results which were partially offset by reduced client sales revenue . the pnc financial services group , inc . 2013 form 10-k 93 .

string

table_row = [94, 92] # row labeled foreign exchange a = sum(table_row)/len(table_row)

what is the liability for interest and penalties as of december 31 , 2016?

1

CodeFinQA

and penalties , resulting in a liability of $ 1 million for interest and penalties as of december 31 , 2018 . in 2017 , there was a net decrease in income tax expense of $ 1 million for interest and penalties , resulting in no material liability for interest and penalties as of december 31 , 2017 . the 2017 changes in interest and penalties related to statute of limitation expirations . in 2016 , there was a net decrease in income tax expense of $ 2 million for interest and penalties , resulting in a total liability of $ 1 million for interest and penalties as of december 31 , 2016 . the 2016 changes in interest and penalties related to reductions in prior year tax positions and settlement with a taxing authority . the following table summarizes the tax years that are either currently under examination or remain open under the applicable statute of limitations and subject to examination by the major tax jurisdictions in which the company operates: . | Jurisdiction | Years | | :--- | :--- | | United States⁽¹⁾ | 2011 | - | 2017 | | Connecticut | 2016 | - | 2017 | | Mississippi | 2012 | - | 2017 | | Virginia⁽¹⁾ | 2011 | - | 2017 | virginia ( 1 ) 2011 - 2017 ( 1 ) the 2014 tax year has been closed in these jurisdictions . although the company believes it has adequately provided for all uncertain tax positions , amounts asserted by taxing authorities could be greater than the company's accrued position . accordingly , additional provisions for federal and state income tax related matters could be recorded in the future as revised estimates are made or the underlying matters are effectively settled or otherwise resolved . conversely , the company could settle positions with the tax authorities for amounts lower than have been accrued . the company believes that it is reasonably possible that during the next 12 months the company's liability for uncertain tax positions may decrease by $ 14 million due to resolution of a federal uncertain tax position . during 2013 the company entered into the pre-compliance assurance process with the irs for years 2011 and 2012 . the company is part of the irs compliance assurance process program for the 2014 through 2018 tax years . open tax years related to state jurisdictions remain subject to examination . deferred income taxes - deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and for income tax purposes . as described above , deferred tax assets and liabilities are calculated as of the balance sheet date using current tax laws and rates expected to be in effect when the deferred tax items reverse in future periods . as a result of the reduction in the corporate income tax rate from 35% ( 35 % ) to 21% ( 21 % ) under the tax act , the company revalued its net deferred tax assets as of december 31 , 2017 . net deferred tax assets are classified as long-term deferred tax assets in the consolidated statements of financial position. .

string

a = 1 + 2 b = a - 2

what was the net change in cash in 2016 in millions

35.4000015259

CodeFinQA

liquidity and capital resources the major components of changes in cash flows for 2016 , 2015 and 2014 are discussed in the following paragraphs . the following table summarizes our cash flow from operating activities , investing activities and financing activities for the years ended december 31 , 2016 , 2015 and 2014 ( in millions of dollars ) : . | | 2016 | 2015 | 2014 | | :--- | :--- | :--- | :--- | | Net cash provided by operating activities | $1,847.8 | $1,679.7 | $1,529.8 | | Net cash used in investing activities | (961.2) | (1,482.8) | (959.8) | | Net cash used in financing activities | (851.2) | (239.7) | (708.1) | cash flows provided by operating activities the most significant items affecting the comparison of our operating cash flows for 2016 and 2015 are summarized below : changes in assets and liabilities , net of effects from business acquisitions and divestitures , decreased our cash flow from operations by $ 205.2 million in 2016 , compared to a decrease of $ 316.7 million in 2015 , primarily as a result of the following : 2022 our accounts receivable , exclusive of the change in allowance for doubtful accounts and customer credits , increased $ 52.3 million during 2016 due to the timing of billings net of collections , compared to a $ 15.7 million increase in 2015 . as of december 31 , 2016 and 2015 , our days sales outstanding were 38.1 and 38.3 days , or 26.1 and 25.8 days net of deferred revenue , respectively . 2022 our accounts payable decreased $ 9.8 million during 2016 compared to an increase of $ 35.6 million during 2015 , due to the timing of payments . 2022 cash paid for capping , closure and post-closure obligations was $ 11.0 million lower during 2016 compared to 2015 . the decrease in cash paid for capping , closure , and post-closure obligations is primarily due to payments in 2015 related to a required capping event at one of our closed landfills . 2022 cash paid for remediation obligations was $ 13.2 million lower during 2016 compared to 2015 primarily due to the timing of obligations . in addition , cash paid for income taxes was approximately $ 265 million and $ 321 million for 2016 and 2015 , respectively . income taxes paid in 2016 and 2015 reflect the favorable tax depreciation provisions of the protecting americans from tax hikes act signed into law in december 2015 as well as the realization of certain tax credits . cash paid for interest was $ 330.2 million and $ 327.6 million for 2016 and 2015 , respectively . the most significant items affecting the comparison of our operating cash flows for 2015 and 2014 are summarized below : changes in assets and liabilities , net of effects of business acquisitions and divestitures , decreased our cash flow from operations by $ 316.7 million in 2015 , compared to a decrease of $ 295.6 million in 2014 , primarily as a result of the following : 2022 our accounts receivable , exclusive of the change in allowance for doubtful accounts and customer credits , increased $ 15.7 million during 2015 due to the timing of billings , net of collections , compared to a $ 54.3 million increase in 2014 . as of december 31 , 2015 and 2014 , our days sales outstanding were 38 days , or 26 and 25 days net of deferred revenue , respectively . 2022 our accounts payable increased $ 35.6 million and $ 3.3 million during 2015 and 2014 , respectively , due to the timing of payments as of december 31 , 2015. .

string

a = 1847.8 + -961.2 b = -851.2 + a

in 2013 what was the ratio of the interest expense , net of capitalized interest to the other non operating income net related to debt extinguishm net and currency losses

8.4499998093

CodeFinQA

table of contents interest expense , net of capitalized interest increased $ 64 million , or 9.8% ( 9.8 % ) , to $ 710 million in 2013 from $ 646 million in 2012 primarily due to special charges of $ 92 million to recognize post-petition interest expense on unsecured obligations pursuant to the plan and penalty interest related to 10.5% ( 10.5 % ) secured notes and 7.50% ( 7.50 % ) senior secured notes . other nonoperating expense , net of $ 84 million in 2013 consists principally of net foreign currency losses of $ 55 million and early debt extinguishment charges of $ 48 million . other nonoperating income in 2012 consisted principally of a $ 280 million special credit related to the settlement of a commercial dispute partially offset by net foreign currency losses . reorganization items , net reorganization items refer to revenues , expenses ( including professional fees ) , realized gains and losses and provisions for losses that are realized or incurred as a direct result of the chapter 11 cases . the following table summarizes the components included in reorganization items , net on american 2019s consolidated statements of operations for the years ended december 31 , 2013 and 2012 ( in millions ) : . | | 2013 | 2012 | | :--- | :--- | :--- | | Pension and postretirement benefits | $— | $(66) | | Labor-related deemed claim (1) | 1,733 | — | | Aircraft and facility financing renegotiations and rejections (2), (3) | 320 | 1,951 | | Fair value of conversion discount (4) | 218 | — | | Professional fees | 199 | 227 | | Other | 170 | 67 | | Total reorganization items, net | $2,640 | $2,179 | ( 1 ) in exchange for employees 2019 contributions to the successful reorganization , including agreeing to reductions in pay and benefits , american agreed in the plan to provide each employee group a deemed claim , which was used to provide a distribution of a portion of the equity of the reorganized entity to those employees . each employee group received a deemed claim amount based upon a portion of the value of cost savings provided by that group through reductions to pay and benefits as well as through certain work rule changes . the total value of this deemed claim was approximately $ 1.7 billion . ( 2 ) amounts include allowed claims ( claims approved by the bankruptcy court ) and estimated allowed claims relating to ( i ) the rejection or modification of financings related to aircraft and ( ii ) entry of orders treated as unsecured claims with respect to facility agreements supporting certain issuances of special facility revenue bonds . the debtors recorded an estimated claim associated with the rejection or modification of a financing or facility agreement when the applicable motion was filed with the bankruptcy court to reject or modify such financing or facility agreement and the debtors believed that it was probable the motion would be approved , and there was sufficient information to estimate the claim . see note 2 to american 2019s consolidated financial statements in part ii , item 8b for further information . ( 3 ) pursuant to the plan , the debtors agreed to allow certain post-petition unsecured claims on obligations . as a result , during the year ended december 31 , 2013 , american recorded reorganization charges to adjust estimated allowed claim amounts previously recorded on rejected special facility revenue bonds of $ 180 million , allowed general unsecured claims related to the 1990 and 1994 series of special facility revenue bonds that financed certain improvements at jfk , and rejected bonds that financed certain improvements at ord , which are included in the table above . ( 4 ) the plan allowed unsecured creditors receiving aag series a preferred stock a conversion discount of 3.5% ( 3.5 % ) . accordingly , american recorded the fair value of such discount upon the confirmation of the plan by the bankruptcy court. .

string

interest_expense = 710 other_nonoperating_income = 84 ratio = interest_expense / other_nonoperating_income answer = ratio

what was the change in millions of private equity and equity investments pretax revenue from 2008 to 2009?

578

CodeFinQA

2009 vs . 2008 revenues , net of interest expense increased 11% ( 11 % ) or $ 2.7 billion , as markets began to recover in the early part of 2009 , bringing back higher levels of volume activity and higher levels of liquidity , which began to decline again in the third quarter of 2009 . the growth in revenue in the early part of the year was mainly due to a $ 7.1 billion increase in fixed income markets , reflecting strong trading opportunities across all asset classes in the first half of 2009 , and a $ 1.5 billion increase in investment banking revenue primarily from increases in debt and equity underwriting activities reflecting higher transaction volumes from depressed 2008 levels . these increases were offset by a $ 6.4 billion decrease in lending revenue primarily from losses on credit default swap hedges . excluding the 2009 and 2008 cva impact , as indicated in the table below , revenues increased 23% ( 23 % ) or $ 5.5 billion . operating expenses decreased 17% ( 17 % ) , or $ 2.7 billion . excluding the 2008 repositioning and restructuring charges and the 2009 litigation reserve release , operating expenses declined 11% ( 11 % ) or $ 1.6 billion , mainly as a result of headcount reductions and benefits from expense management . provisions for loan losses and for benefits and claims decreased 7% ( 7 % ) or $ 129 million , to $ 1.7 billion , mainly due to lower credit reserve builds and net credit losses , due to an improved credit environment , particularly in the latter part of the year . 2008 vs . 2007 revenues , net of interest expense decreased 2% ( 2 % ) or $ 0.4 billion reflecting the overall difficult market conditions . excluding the 2008 and 2007 cva impact , revenues decreased 3% ( 3 % ) or $ 0.6 billion . the reduction in revenue was primarily due to a decrease in investment banking revenue of $ 2.3 billion to $ 3.2 billion , mainly in debt and equity underwriting , reflecting lower volumes , and a decrease in equity markets revenue of $ 2.3 billion to $ 2.9 billion due to extremely high volatility and reduced levels of activity . these reductions were offset by an increase in fixed income markets of $ 2.9 billion to $ 14.4 billion due to strong performance in interest rates and currencies , and an increase in lending revenue of $ 2.4 billion to $ 4.2 billion mainly from gains on credit default swap hedges . operating expenses decreased by 2% ( 2 % ) or $ 0.4 billion . excluding the 2008 and 2007 repositioning and restructuring charges and the 2007 litigation reserve reversal , operating expenses decreased by 7% ( 7 % ) or $ 1.1 billion driven by headcount reduction and lower performance-based incentives . provisions for credit losses and for benefits and claims increased $ 1.3 billion to $ 1.8 billion mainly from higher credit reserve builds and net credit losses offset by a lower provision for unfunded lending commitments due to deterioration in the credit environment . certain revenues impacting securities and banking items that impacted s&b revenues during 2009 and 2008 are set forth in the table below. . | | Pretax revenue | | :--- | :--- | | In millions of dollars | 2009 | 2008 | | Private equity and equity investments | $201 | $(377) | | Alt-A mortgages(1)(2) | 321 | (737) | | Commercial real estate (CRE) positions(1)(3) | 68 | 270 | | CVA on Citi debt liabilities under fair value option | (3,974) | 4,325 | | CVA on derivatives positions, excluding monoline insurers | 2,204 | (3,292) | | Total significant revenue items | $(1,180) | $189 | ( 1 ) net of hedges . ( 2 ) for these purposes , alt-a mortgage securities are non-agency residential mortgage-backed securities ( rmbs ) where ( i ) the underlying collateral has weighted average fico scores between 680 and 720 or ( ii ) for instances where fico scores are greater than 720 , rmbs have 30% ( 30 % ) or less of the underlying collateral composed of full documentation loans . see 201cmanaging global risk 2014credit risk 2014u.s . consumer mortgage lending . 201d ( 3 ) s&b 2019s commercial real estate exposure is split into three categories of assets : held at fair value ; held- to-maturity/held-for-investment ; and equity . see 201cmanaging global risk 2014credit risk 2014exposure to commercial real estate 201d section for a further discussion . in the table above , 2009 includes a $ 330 million pretax adjustment to the cva balance , which reduced pretax revenues for the year , reflecting a correction of an error related to prior periods . see 201csignificant accounting policies and significant estimates 201d below and notes 1 and 34 to the consolidated financial statements for a further discussion of this adjustment . 2010 outlook the 2010 outlook for s&b will depend on the level of client activity and on macroeconomic conditions , market valuations and volatility , interest rates and other market factors . management of s&b currently expects to maintain client activity throughout 2010 and to operate in market conditions that offer moderate volatility and increased liquidity . operating expenses will benefit from continued re-engineering and expense management initiatives , but will be offset by investments in talent and infrastructure to support growth. .

string

private_equity_change = 201 - -377 answer = private_equity_change

what are the lease termination fees as a percentage of rental income from continuing operations in 2003?

2.3499999046

CodeFinQA

gain on land sales are derived from sales of undeveloped land owned by us . we pursue opportunities to dispose of land in markets with a high concentration of undeveloped land and in those markets where the land no longer meets our strategic development plans . the increase was partially attributable to a land sale to a current corporate tenant for potential future expansion . we recorded $ 424000 and $ 560000 of impairment charges associated with contracts to sell land parcels for the years ended december 31 , 2004 and 2003 , respectively . as of december 31 , 2004 , only one parcel on which we recorded impairment charges is still owned by us . we anticipate selling this parcel in the first quarter of 2005 . discontinued operations we have classified operations of 86 buildings as discontinued operations as of december 31 , 2004 . these 86 buildings consist of 69 industrial , 12 office and five retail properties . as a result , we classified net income from operations , net of minority interest , of $ 1.6 million , $ 6.3 million and $ 10.7 million as net income from discontinued operations for the years ended december 31 , 2004 , 2003 and 2002 , respectively . in addition , 41 of the properties classified in discontinued operations were sold during 2004 , 42 properties were sold during 2003 , two properties were sold during 2002 and one operating property is classified as held-for-sale at december 31 , 2004 . the gains on disposal of these properties , net of impairment adjustment and minority interest , of $ 23.9 million and $ 11.8 million for the years ended december 31 , 2004 and 2003 , respectively , are also reported in discontinued operations . for the year ended december 31 , 2002 , a $ 4.5 million loss on disposal of properties , net of impairment adjustments and minority interest , is reported in discontinued operations due to impairment charges of $ 7.7 million recorded on three properties in 2002 that were later sold in 2003 and 2004 . comparison of year ended december 31 , 2003 to year ended december 31 , 2002 rental income from continuing operations rental income from continuing operations increased from $ 652.8 million in 2002 to $ 689.3 million in 2003 . the following table reconciles rental income by reportable segment to our total reported rental income from continuing operations for the years ended december 31 , 2003 and 2002 ( in thousands ) : . | | 2003 | 2002 | | :--- | :--- | :--- | | Office | $419,962 | $393,810 | | Industrial | 259,762 | 250,391 | | Retail | 5,863 | 4,733 | | Other | 3,756 | 3,893 | | Total | $689,343 | $652,827 | although our three reportable segments comprising rental operations ( office , industrial and retail ) are all within the real estate industry , they are not necessarily affected by the same economic and industry conditions . for example , our retail segment experienced high occupancies and strong overall performance during 2003 , while our office and industrial segments reflected the weaker economic environment for those property types . the primary causes of the increase in rental income from continuing operations , with specific references to a particular segment when applicable , are summarized below : 25cf during 2003 , in-service occupancy improved from 87.1% ( 87.1 % ) at the end of 2002 to 89.3% ( 89.3 % ) at the end of 2003 . the second half of 2003 was highlighted by a significant increase in the industrial portfolio occupancy of 2.1% ( 2.1 % ) along with a slight increase in office portfolio occupancy of 0.9% ( 0.9 % ) . 25cf lease termination fees totaled $ 27.4 million in 2002 compared to $ 16.2 million in 2003 . most of this decrease was attributable to the office segment , which recognized $ 21.1 million of termination fees in 2002 as compared to $ 11.8 million in 2003 . lease termination fees relate to specific tenants that pay a fee to terminate their lease obligations before the end of the contractual lease term . the high volume of termination fees in 2002 was reflective of the contraction of the business of large office users during that year and their desire to downsize their use of office space . the decrease in termination fees for 2003 was indicative of an improving economy and a more stable financial position of our tenants . 25cf during the year ended 2003 , we acquired $ 232 million of properties totaling 2.1 million square feet . the acquisitions were primarily class a office buildings in existing markets with overall occupancy near 90% ( 90 % ) . revenues associated with these acquisitions totaled $ 11.9 million in 2003 . in addition , revenues from 2002 acquisitions totaled $ 15.8 million in 2003 compared to $ 4.8 million in 2002 . this significant increase is primarily due to a large office acquisition that closed at the end of december 2002 . 25cf developments placed in-service in 2003 provided revenues of $ 6.6 million , while revenues associated with developments placed in-service in 2002 totaled $ 13.7 million in 2003 compared to $ 4.7 million in 25cf proceeds from dispositions of held for rental properties totaled $ 126.1 million in 2003 , compared to $ 40.9 million in 2002 . these properties generated revenue of $ 12.5 million in 2003 versus $ 19.6 million in 2002 . equity in earnings of unconsolidated companies equity in earnings represents our ownership share of net income from investments in unconsolidated companies . these joint ventures generally own and operate rental properties and hold land for development . these earnings decreased from $ 27.2 million in 2002 to $ 23.7 million in 2003 . this decrease is a result of the following significant activity: .

string

lease_termination_fees_percent = 16.2 / 689.3 answer = lease_termination_fees_percent * 100

what was the percentage change in total operating expenses between 2016 and 2018?

55

CodeFinQA

corporate/other corporate/other includes certain unallocated costs of global staff functions ( including finance , risk , human resources , legal and compliance ) , other corporate expenses and unallocated global operations and technology expenses and income taxes , as well as corporate treasury , certain north america legacy consumer loan portfolios , other legacy assets and discontinued operations ( for additional information on corporate/other , see 201ccitigroup segments 201d above ) . at december 31 , 2018 , corporate/other had $ 91 billion in assets , an increase of 17% ( 17 % ) from the prior year . in millions of dollars 2018 2017 2016 % ( % ) change 2018 vs . 2017 % ( % ) change 2017 vs . 2016 . | In millions of dollars | 2018 | 2017 | 2016 | % Change2018 vs. 2017 | % Change2017 vs. 2016 | | :--- | :--- | :--- | :--- | :--- | :--- | | Net interest revenue | $2,254 | $2,000 | $3,045 | 13% | (34)% | | Non-interest revenue | (171) | 1,132 | 2,188 | NM | (48) | | Total revenues, net of interest expense | $2,083 | $3,132 | $5,233 | (33)% | (40)% | | Total operating expenses | $2,272 | $3,814 | $5,042 | (40)% | (24)% | | Net credit losses | $21 | $149 | $435 | (86)% | (66)% | | Credit reserve build (release) | (218) | (317) | (456) | 31 | 30 | | Provision (release) for unfunded lending commitments | (3) | — | (8) | — | 100 | | Provision for benefits and claims | (2) | (7) | 98 | 71 | NM | | Provisions for credit losses and for benefits and claims | $(202) | $(175) | $69 | (15) | NM | | Income (loss) from continuing operations before taxes | $13 | $(507) | $122 | NM | NM | | Income taxes (benefits) | (113) | 19,064 | (455) | NM | NM | | Income (loss) from continuing operations | $126 | $(19,571) | $577 | NM | NM | | Income (loss) from discontinued operations, net of taxes | (8) | (111) | (58) | 93 | (91) | | Net income (loss) before attribution of noncontrolling interests | $118 | $(19,682) | $519 | NM | NM | | Noncontrolling interests | 11 | (6) | (2) | NM | NM | | Net income (loss) | $107 | $(19,676) | $521 | NM | NM | nm not meaningful 2018 vs . 2017 net income was $ 107 million in 2018 , compared to a net loss of $ 19.7 billion in the prior year , primarily driven by the $ 19.8 billion one-time , non-cash charge recorded in the tax line in 2017 due to the impact of tax reform . results in 2018 included the one-time benefit of $ 94 million in the tax line , related to tax reform . for additional information , see 201csignificant accounting policies and significant estimates 2014income taxes 201d below . excluding the one-time impact of tax reform in 2018 and 2017 , net income decreased 92% ( 92 % ) , reflecting lower revenues , partially offset by lower expenses , lower cost of credit and tax benefits related to the reorganization of certain non-u.s . subsidiaries . the tax benefits were largely offset by the release of a foreign currency translation adjustment ( cta ) from aoci to earnings ( for additional information on the cta release , see note 19 to the consolidated financial statements ) . revenues decreased 33% ( 33 % ) , driven by the continued wind-down of legacy assets . expenses decreased 40% ( 40 % ) , primarily driven by the wind-down of legacy assets , lower infrastructure costs and lower legal expenses . provisions decreased $ 27 million to a net benefit of $ 202 million , primarily due to lower net credit losses , partially offset by a lower net loan loss reserve release . net credit losses declined 86% ( 86 % ) to $ 21 million , primarily reflecting the impact of ongoing divestiture activity and the continued wind-down of the north america mortgage portfolio . the net reserve release declined by $ 96 million to $ 221 million , and reflected the continued wind-down of the legacy north america mortgage portfolio and divestitures . 2017 vs . 2016 the net loss was $ 19.7 billion , compared to net income of $ 521 million in the prior year , primarily driven by the one-time impact of tax reform . excluding the one-time impact of tax reform , net income declined 69% ( 69 % ) to $ 168 million , reflecting lower revenues , partially offset by lower expenses and lower cost of credit . revenues declined 40% ( 40 % ) , primarily reflecting the continued wind-down of legacy assets and the absence of gains related to debt buybacks in 2016 . revenues included approximately $ 750 million in gains on asset sales in the first quarter of 2017 , which more than offset a roughly $ 300 million charge related to the exit of citi 2019s u.s . mortgage servicing operations in the quarter . expenses declined 24% ( 24 % ) , reflecting the wind-down of legacy assets and lower legal expenses , partially offset by approximately $ 100 million in episodic expenses primarily related to the exit of the u.s . mortgage servicing operations . also included in expenses is an approximately $ 255 million provision for remediation costs related to a card act matter in 2017 . provisions decreased $ 244 million to a net benefit of $ 175 million , primarily due to lower net credit losses and a lower provision for benefits and claims , partially offset by a lower net loan loss reserve release . net credit losses declined 66% ( 66 % ) , primarily reflecting the impact of ongoing divestiture activity and the continued wind-down of the north america mortgage portfolio . the decline in the provision for benefits and claims was primarily due to lower insurance activity . the net reserve release declined $ 147 million , and reflected the continued wind-down of the legacy north america mortgage portfolio and divestitures. .

string

total_expenses = 2272 - 5042 answer = total_expenses / 5042 * 100

for how many common stock shares did the company pay dividends in 2012 , ( in millions ) ?

1251.4000244141

CodeFinQA

performance graph the performance graph below shows the five-year cumulative total stockholder return on applied common stock during the period from october 28 , 2007 through october 28 , 2012 . this is compared with the cumulative total return of the standard & poor 2019s 500 stock index and the rdg semiconductor composite index over the same period . the comparison assumes $ 100 was invested on october 28 , 2007 in applied common stock and in each of the foregoing indices and assumes reinvestment of dividends , if any . dollar amounts in the graph are rounded to the nearest whole dollar . the performance shown in the graph represents past performance and should not be considered an indication of future performance . comparison of 5 year cumulative total return* among applied materials , inc. , the s&p 500 index and the rdg semiconductor composite index * $ 100 invested on 10/28/07 in stock or 10/31/07 in index , including reinvestment of dividends . indexes calculated on month-end basis . copyright a9 2012 s&p , a division of the mcgraw-hill companies inc . all rights reserved. . | | 10/28/2007 | 10/26/2008 | 10/25/2009 | 10/31/2010 | 10/30/2011 | 10/28/2012 | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Applied Materials | 100.00 | 61.22 | 71.06 | 69.23 | 72.37 | 62.92 | | S&P 500 Index | 100.00 | 63.90 | 70.17 | 81.76 | 88.37 | 101.81 | | RDG Semiconductor Composite Index | 100.00 | 54.74 | 68.59 | 84.46 | 91.33 | 82.37 | dividends during fiscal 2012 , applied 2019s board of directors declared three quarterly cash dividends in the amount of $ 0.09 per share each and one quarterly cash dividend in the amount of $ 0.08 per share . during fiscal 2011 , applied 2019s board of directors declared three quarterly cash dividends in the amount of $ 0.08 per share each and one quarterly cash dividend in the amount of $ 0.07 per share . during fiscal 2010 , applied 2019s board of directors declared three quarterly cash dividends in the amount of $ 0.07 per share each and one quarterly cash dividend in the amount of $ 0.06 . dividends declared during fiscal 2012 , 2011 and 2010 amounted to $ 438 million , $ 408 million and $ 361 million , respectively . applied currently anticipates that it will continue to pay cash dividends on a quarterly basis in the future , although the declaration and amount of any future cash dividends are at the discretion of the board of directors and will depend on applied 2019s financial condition , results of operations , capital requirements , business conditions and other factors , as well as a determination that cash dividends are in the best interests of applied 2019s stockholders . 10/28/07 10/26/08 10/25/09 10/31/10 10/30/11 10/28/12 applied materials , inc . s&p 500 rdg semiconductor composite .

string

dividends_paid = 0.09 * 3 + 0.08 dividends_received = 438 / dividends_paid answer = dividends_received

in 2012 , what net exposure amounted to consolidated investment funds amounted to what percent of the investments held by consolidated sponsored investment funds?

82.0599975586

CodeFinQA

the company further presents total net 201ceconomic 201d investment exposure , net of deferred compensation investments and hedged investments , to reflect another gauge for investors as the economic impact of investments held pursuant to deferred compensation arrangements is substantially offset by a change in compensation expense and the impact of hedged investments is substantially mitigated by total return swap hedges . carried interest capital allocations are excluded as there is no impact to blackrock 2019s stockholders 2019 equity until such amounts are realized as performance fees . finally , the company 2019s regulatory investment in federal reserve bank stock , which is not subject to market or interest rate risk , is excluded from the company 2019s net economic investment exposure . ( dollar amounts in millions ) december 31 , december 31 . | <i>(Dollar amounts in millions)</i> | December 31, 2012 | December 31, 2011 | | :--- | :--- | :--- | | Total investments, GAAP | $1,750 | $1,631 | | Investments held by consolidated sponsored investmentfunds⁽¹⁾ | (524) | (587) | | Net exposure to consolidated investment funds | 430 | 475 | | Total investments, as adjusted | 1,656 | 1,519 | | Federal Reserve Bank stock⁽²⁾ | (89) | (328) | | Carried interest | (85) | (21) | | Deferred compensation investments | (62) | (65) | | Hedged investments | (209) | (43) | | Total “economic” investment exposure | $1,211 | $1,062 | total 201ceconomic 201d investment exposure . . . $ 1211 $ 1062 ( 1 ) at december 31 , 2012 and december 31 , 2011 , approximately $ 524 million and $ 587 million , respectively , of blackrock 2019s total gaap investments were maintained in sponsored investment funds that were deemed to be controlled by blackrock in accordance with gaap , and , therefore , are consolidated even though blackrock may not economically own a majority of such funds . ( 2 ) the decrease of $ 239 million related to a lower holding requirement of federal reserve bank stock held by blackrock institutional trust company , n.a . ( 201cbtc 201d ) . total investments , as adjusted , at december 31 , 2012 increased $ 137 million from december 31 , 2011 , resulting from $ 765 million of purchases/capital contributions , $ 185 million from positive market valuations and earnings from equity method investments , and $ 64 million from net additional carried interest capital allocations , partially offset by $ 742 million of sales/maturities and $ 135 million of distributions representing return of capital and return on investments. .

string

net_exposure_2012 = 430 total_investments_2012 = 524 percent_2012 = net_exposure_2012 / total_investments_2012 answer = percent_2012 * 100

containerboard sales volume to external domestic and export customers decreased by how many tons in the year ended december 31 , 2003 from 2002?

32000

CodeFinQA

other expense , net , decreased $ 6.2 million , or 50.0% ( 50.0 % ) , for the year ended december 31 , 2004 compared to the year ended december 31 , 2003 . the decrease was primarily due to a reduction in charges on disposal and transfer costs of fixed assets and facility closure costs of $ 3.3 million , reduced legal charges of $ 1.5 million , and a reduction in expenses of $ 1.4 million consisting of individually insignificant items . interest expense and income taxes interest expense decreased in 2004 by $ 92.2 million , or 75.7% ( 75.7 % ) , from 2003 . this decrease included $ 73.3 million of expenses related to the company 2019s debt refinancing , which was completed in july 2003 . the $ 73.3 million of expenses consisted of $ 55.9 million paid in premiums for the tender of the 95 20448% ( 20448 % ) senior subordinated notes , and a $ 17.4 million non-cash charge for the write-off of deferred financing fees related to the 95 20448% ( 20448 % ) notes and pca 2019s original revolving credit facility . excluding the $ 73.3 million charge , interest expense was $ 18.9 million lower than in 2003 as a result of lower interest rates attributable to the company 2019s july 2003 refinancing and lower debt levels . pca 2019s effective tax rate was 38.0% ( 38.0 % ) for the year ended december 31 , 2004 and 42.3% ( 42.3 % ) for the year ended december 31 , 2003 . the higher tax rate in 2003 is due to stable permanent items over lower book income ( loss ) . for both years 2004 and 2003 tax rates are higher than the federal statutory rate of 35.0% ( 35.0 % ) due to state income taxes . year ended december 31 , 2003 compared to year ended december 31 , 2002 the historical results of operations of pca for the years ended december 31 , 2003 and 2002 are set forth below : for the year ended december 31 , ( in millions ) 2003 2002 change . | <i></i> | For the Year Ended December 31, | | | :--- | :--- | :--- | | <i>(In millions)</i> | 2003 | 2002 | Change | | Net sales | $1,735.5 | $1,735.9 | $(0.4) | | Income before interest and taxes | $96.9 | $145.3 | $(48.4) | | Interest expense, net | (121.8) | (67.7) | (54.1) | | Income (loss) before taxes | (24.9) | 77.6 | (102.5) | | (Provision) benefit for income taxes | 10.5 | (29.4) | 39.9 | | Net income (loss) | $(14.4) | $48.2 | $(62.6) | net sales net sales decreased by $ 0.4 million , or 0.0% ( 0.0 % ) , for the year ended december 31 , 2003 from the year ended december 31 , 2002 . net sales increased due to improved sales volumes compared to 2002 , however , this increase was entirely offset by lower sales prices . total corrugated products volume sold increased 2.1% ( 2.1 % ) to 28.1 billion square feet in 2003 compared to 27.5 billion square feet in 2002 . on a comparable shipment-per-workday basis , corrugated products sales volume increased 1.7% ( 1.7 % ) in 2003 from 2002 . shipments-per-workday is calculated by dividing our total corrugated products volume during the year by the number of workdays within the year . the lower percentage increase was due to the fact that 2003 had one more workday ( 252 days ) , those days not falling on a weekend or holiday , than 2002 ( 251 days ) . containerboard sales volume to external domestic and export customers decreased 6.7% ( 6.7 % ) to 445000 tons for the year ended december 31 , 2003 from 477000 tons in the comparable period of 2002 . income before interest and taxes income before interest and taxes decreased by $ 48.4 million , or 33.3% ( 33.3 % ) , for the year ended december 31 , 2003 compared to 2002 . included in income before interest and taxes for the twelve months .

string

decrease = 477000 - 445000 answer = decrease

what is the percentage of amount ceded to direct amount in 2007?

39.7999992371

CodeFinQA

s c h e d u l e i v ( continued ) ace limited and subsidiaries s u p p l e m e n t a l i n f o r m a t i o n c o n c e r n i n g r e i n s u r a n c e premiums earned for the years ended december 31 , 2008 , 2007 , and 2006 ( in millions of u.s . dollars ) direct amount ceded to companies assumed from other companies net amount percentage of amount assumed to . | For the years ended December 31, 2008, 2007, and 2006(in millions of U.S. dollars) | Direct Amount | Ceded To Other Companies | Assumed From Other Companies | Net Amount | Percentage of Amount Assumed to Net | | :--- | :--- | :--- | :--- | :--- | :--- | | 2008 | $16,087 | $6,144 | $3,260 | $13,203 | 25% | | 2007 | $14,673 | $5,834 | $3,458 | $12,297 | 28% | | 2006 | $13,562 | $5,198 | $3,461 | $11,825 | 29% | .

string

percentage_ceded_2007 = 5834 / 14673 * 100

in 2019 what was the net change in cash in millions

489.200012207

CodeFinQA

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 . | | Year Ended September 30, | | :--- | :--- | | (In millions) | 2019 | 2018 | | Net cash provided by operating activities | $2,310.2 | $1,931.2 | | Net cash used for investing activities | $(4,579.6) | $(815.1) | | Net cash provided by (used for) financing activities | $1,780.2 | $(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. .

string

a = 2310.2 + -4579.6 b = a + 1780.2

how much was 2003 total treasury & securities services without the benefit of the special gain ( in us$ m ) ?

3951

CodeFinQA

j.p . morgan chase & co . / 2003 annual report 33 corporate credit allocation in 2003 , tss was assigned a corporate credit allocation of pre- tax earnings and the associated capital related to certain credit exposures managed within ib 2019s credit portfolio on behalf of clients shared with tss . prior periods have been revised to reflect this allocation . for 2003 , the impact to tss of this change increased pre-tax operating results by $ 36 million and average allocated capital by $ 712 million , and it decreased sva by $ 65 million . pre-tax operating results were $ 46 million lower than in 2002 , reflecting lower loan volumes and higher related expenses , slightly offset by a decrease in credit costs . business outlook tss revenue in 2004 is expected to benefit from improved global equity markets and from two recent acquisitions : the november 2003 acquisition of the bank one corporate trust portfolio , and the january 2004 acquisition of citigroup 2019s electronic funds services business . tss also expects higher costs as it integrates these acquisitions and continues strategic investments to sup- port business expansion . by client segment tss dimensions of 2003 revenue diversification by business revenue by geographic region investor services 36% ( 36 % ) other 1% ( 1 % ) institutional trust services 23% ( 23 % ) treasury services 40% ( 40 % ) large corporations 21% ( 21 % ) middle market 18% ( 18 % ) banks 11% ( 11 % ) nonbank financial institutions 44% ( 44 % ) public sector/governments 6% ( 6 % ) europe , middle east & africa 27% ( 27 % ) asia/pacific 9% ( 9 % ) the americas 64% ( 64 % ) ( a ) includes the elimination of revenue related to shared activities with chase middle market in the amount of $ 347 million . year ended december 31 , operating revenue . | Year ended December 31, | Operating Revenue | | :--- | :--- | | (in millions) | 2003 | 2002 | Change | | Treasury Services | $1,927 | $1,818 | 6% | | Investor Services | 1,449 | 1,513 | (4) | | Institutional Trust Services^(a) | 928 | 864 | 7 | | Other^(a)(b) | (312) | (303) | (3) | | Total Treasury & Securities Services | $3,992 | $3,892 | 3% | ( a ) includes a portion of the $ 41 million gain on sale of a nonstrategic business in 2003 : $ 1 million in institutional trust services and $ 40 million in other . ( b ) includes the elimination of revenues related to shared activities with chase middle market , and a $ 50 million gain on sale of a non-u.s . securities clearing firm in 2002. .

string

total_tss_2003 = 3992 total_tss_2002 = 41 change = total_tss_2003 - total_tss_2002 answer = change

what would the effect on other postretirement benefit obligations be if there was a 2-percent point increase?

176

CodeFinQA

marathon oil corporation notes to consolidated financial statements assumed health care cost trend rates have a significant effect on the amounts reported for defined benefit retiree health care plans . a one-percentage-point change in assumed health care cost trend rates would have the following effects : ( in millions ) 1-percentage- point increase 1-percentage- point decrease . | <i>(In millions)</i> | 1-Percentage-Point Increase | 1-Percentage-Point Decrease | | :--- | :--- | :--- | | Effect on total of service and interest cost components | $9 | $7 | | Effect on other postretirement benefit obligations | 88 | 72 | plan investment policies and strategies the investment policies for our u.s . and international pension plan assets reflect the funded status of the plans and expectations regarding our future ability to make further contributions . long-term investment goals are to : ( 1 ) manage the assets in accordance with the legal requirements of all applicable laws ; ( 2 ) produce investment returns which meet or exceed the rates of return achievable in the capital markets while maintaining the risk parameters set by the plans 2019 investment committees and protecting the assets from any erosion of purchasing power ; and ( 3 ) position the portfolios with a long-term risk/return orientation . u.s . plans 2013 historical performance and future expectations suggest that common stocks will provide higher total investment returns than fixed income securities over a long-term investment horizon . short-term investments only reflect the liquidity requirements for making pension payments . as such , the plans 2019 targeted asset allocation is comprised of 75 percent equity securities and 25 percent fixed income securities . in the second quarter of 2009 , we exchanged the majority of our publicly-traded stocks and bonds for interests in pooled equity and fixed income investment funds from our outside manager , representing 58 percent and 20 percent of u.s . plan assets , respectively , as of december 31 , 2009 . these funds are managed with the same style and strategy as when the securities were held separately . each fund 2019s main objective is to provide investors with exposure to either a publicly-traded equity or fixed income portfolio comprised of both u.s . and non-u.s . securities . the equity fund holdings primarily consist of publicly-traded individually-held securities in various sectors of many industries . the fixed income fund holdings primarily consist of publicly-traded investment-grade bonds . the plans 2019 assets are managed by a third-party investment manager . the investment manager has limited discretion to move away from the target allocations based upon the manager 2019s judgment as to current confidence or concern regarding the capital markets . investments are diversified by industry and type , limited by grade and maturity . the plans 2019 investment policy prohibits investments in any securities in the steel industry and allows derivatives subject to strict guidelines , such that derivatives may only be written against equity securities in the portfolio . investment performance and risk is measured and monitored on an ongoing basis through quarterly investment meetings and periodic asset and liability studies . international plans 2013 our international plans 2019 target asset allocation is comprised of 70 percent equity securities and 30 percent fixed income securities . the plan assets are invested in six separate portfolios , mainly pooled fund vehicles , managed by several professional investment managers . investments are diversified by industry and type , limited by grade and maturity . the use of derivatives by the investment managers is permitted , subject to strict guidelines . the investment managers 2019 performance is measured independently by a third-party asset servicing consulting firm . overall , investment performance and risk is measured and monitored on an ongoing basis through quarterly investment portfolio reviews and periodic asset and liability studies . fair value measurements plan assets are measured at fair value . the definition and approaches to measuring fair value and the three levels of the fair value hierarchy are described in note 16 . the following provides a description of the valuation techniques employed for each major plan asset category at december 31 , 2009 and 2008 . cash and cash equivalents 2013 cash and cash equivalents include cash on deposit and an investment in a money market mutual fund that invests mainly in short-term instruments and cash , both of which are valued using a .

string

other_postretirement_benefit_change = 88 * 2 answer = other_postretirement_benefit_change

what are the total pre-tax catastrophe losses for the company in the last three years?\\n

1827.5999755859

CodeFinQA

item 1a . risk factors in addition to the other information provided in this report , the following risk factors should be considered when evaluating an investment in our securities . if the circumstances contemplated by the individual risk factors materialize , our business , financial condition and results of operations could be materially and adversely affected and the trading price of our common shares could decline significantly . risks relating to our business fluctuations in the financial markets could result in investment losses . prolonged and severe disruptions in the overall public debt and equity markets , such as occurred during 2008 , could result in significant realized and unrealized losses in our investment portfolio . although financial markets have significantly improved since 2008 , they could deteriorate in the future . there could also be disruption in individual market sectors , such as occurred in the energy sector in recent years . such declines in the financial markets could result in significant realized and unrealized losses on investments and could have a material adverse impact on our results of operations , equity , business and insurer financial strength and debt ratings . our results could be adversely affected by catastrophic events . we are exposed to unpredictable catastrophic events , including weather-related and other natural catastrophes , as well as acts of terrorism . any material reduction in our operating results caused by the occurrence of one or more catastrophes could inhibit our ability to pay dividends or to meet our interest and principal payment obligations . by way of illustration , during the past five calendar years , pre-tax catastrophe losses , net of reinsurance , were as follows: . | Calendar year: | Pre-tax catastrophe losses | | :--- | :--- | | (Dollars in millions) | | | 2017 | $1,472.6 | | 2016 | 301.2 | | 2015 | 53.8 | | 2014 | 56.3 | | 2013 | 194.0 | our losses from future catastrophic events could exceed our projections . we use projections of possible losses from future catastrophic events of varying types and magnitudes as a strategic underwriting tool . we use these loss projections to estimate our potential catastrophe losses in certain geographic areas and decide on the placement of retrocessional coverage or other actions to limit the extent of potential losses in a given geographic area . these loss projections are approximations , reliant on a mix of quantitative and qualitative processes , and actual losses may exceed the projections by a material amount , resulting in a material adverse effect on our financial condition and results of operations. .

string

catastrophe_losses_2017 = 1472.6 catastrophe_losses_2016 = 301.2 catastrophe_losses_2015 = 53.8 total_catastrophe_losses = catastrophe_losses_2017 + catastrophe_losses_2016 + catastrophe_losses_2015 answer = total_catastrophe_losses

what percentage of total maturities of debt come due after 2019?

69

CodeFinQA

maturities of debt the scheduled maturities of the outstanding debt balances , excluding debt fair value adjustments as of december 31 , 2014 , are summarized as follows ( in millions ) : . | Year | Total | | :--- | :--- | | 2015 | $2,717 | | 2016 | 1,684 | | 2017 | 3,059 | | 2018 | 2,328 | | 2019 | 2,819 | | Thereafter | 28,422 | | Total | $41,029 | _______ interest rates , interest rate swaps and contingent debt the weighted average interest rate on all of our borrowings was 5.02% ( 5.02 % ) during 2014 and 5.08% ( 5.08 % ) during 2013 . information on our interest rate swaps is contained in note 13 . for information about our contingent debt agreements , see note 12 . subsequent event subsequent to december 31 , 2014 , additional ep trust i preferred securities were converted , primarily consisting of 969117 ep trust i preferred securities converted on january 14 , 2015 , into ( i ) 697473 of our class p common stock ; ( ii ) approximately $ 24 million in cash ; and ( iii ) 1066028 in warrants . 9 . share-based compensation and employee benefits share-based compensation kinder morgan , inc . class p shares stock compensation plan for non-employee directors we have a stock compensation plan for non-employee directors , in which our eligible non-employee directors participate . the plan recognizes that the compensation paid to each eligible non-employee director is fixed by our board , generally annually , and that the compensation is payable in cash . pursuant to the plan , in lieu of receiving some or all of the cash compensation , each eligible non-employee director may elect to receive shares of class p common stock . each election will be generally at or around the first board meeting in january of each calendar year and will be effective for the entire calendar year . an eligible director may make a new election each calendar year . the total number of shares of class p common stock authorized under the plan is 250000 . during 2014 , 2013 and 2012 , we made restricted class p common stock grants to our non-employee directors of 6210 , 5710 and 5520 , respectively . these grants were valued at time of issuance at $ 220000 , $ 210000 and $ 185000 , respectively . all of the restricted stock grants made to non-employee directors vest during a six-month period . table of contents .

string

maturities_2019 = 28422 maturities_total = 41029 percent_maturities = maturities_2019 / maturities_total answer = percent_maturities * 100

what percent of the decline in net revenue is attributed to the variance in nuclear realized price?

55.5999984741

CodeFinQA

entergy corporation and subsidiaries management 2019s financial discussion and analysis the miso deferral variance is primarily due to the deferral in 2014 of non-fuel miso-related charges , as approved by the lpsc and the mpsc . the deferral of non-fuel miso-related charges is partially offset in other operation and maintenance expenses . see note 2 to the financial statements for further discussion of the recovery of non-fuel miso-related charges . the waterford 3 replacement steam generator provision is due to a regulatory charge of approximately $ 32 million recorded in 2015 related to the uncertainty associated with the resolution of the waterford 3 replacement steam generator project . see note 2 to the financial statements for a discussion of the waterford 3 replacement steam generator prudence review proceeding . entergy wholesale commodities following is an analysis of the change in net revenue comparing 2015 to 2014 . amount ( in millions ) . | | Amount (In Millions) | | :--- | :--- | | 2014 net revenue | $2,224 | | Nuclear realized price changes | (310) | | Vermont Yankee shutdown in December 2014 | (305) | | Nuclear volume, excluding Vermont Yankee effect | 20 | | Other | 37 | | 2015 net revenue | $1,666 | as shown in the table above , net revenue for entergy wholesale commodities decreased by approximately $ 558 million in 2015 primarily due to : 2022 lower realized wholesale energy prices , primarily due to significantly higher northeast market power prices in 2014 , and lower capacity prices in 2015 ; and 2022 a decrease in net revenue as a result of vermont yankee ceasing power production in december 2014 . the decrease was partially offset by higher volume in the entergy wholesale commodities nuclear fleet , excluding vermont yankee , resulting from fewer refueling outage days in 2015 as compared to 2014 , partially offset by more unplanned outage days in 2015 as compared to 2014. .

string

percent_nuclear_variance = 310 / 558 answer = percent_nuclear_variance * 100

what is the average-share price of the repurchased shares as of october 30 , 2010?

34

CodeFinQA

of these options during fiscal 2010 , fiscal 2009 and fiscal 2008 was $ 240.4 million , $ 15.1 million and $ 100.6 mil- lion , respectively . the total grant-date fair value of stock options that vested during fiscal 2010 , fiscal 2009 and fiscal 2008 was approximately $ 67.2 million , $ 73.6 million and $ 77.6 million , respectively . proceeds from stock option exercises pursuant to employee stock plans in the company 2019s statement of cash flows of $ 216.1 million , $ 12.4 million and $ 94.2 million for fiscal 2010 , fiscal 2009 and fiscal 2008 , respectively , are net of the value of shares surrendered by employees in certain limited circumstances to satisfy the exercise price of options , and to satisfy employee tax obligations upon vesting of restricted stock or restricted stock units and in connection with the exercise of stock options granted to the company 2019s employees under the company 2019s equity compensation plans . the withholding amount is based on the company 2019s minimum statutory withholding requirement . a summary of the company 2019s restricted stock unit award activity as of october 30 , 2010 and changes during the year then ended is presented below : restricted outstanding weighted- average grant- date fair value per share . | | Restricted Stock Units Outstanding | Weighted- Average Grant- Date Fair Value Per Share | | :--- | :--- | :--- | | Restricted stock units outstanding at October 31, 2009 | 135 | $22.19 | | Units granted | 1,171 | $28.86 | | Restrictions lapsed | (19) | $24.70 | | Units forfeited | (22) | $29.10 | | Restricted stock units outstanding at October 30, 2010 | 1,265 | $28.21 | as of october 30 , 2010 there was $ 95 million of total unrecognized compensation cost related to unvested share-based awards comprised of stock options and restricted stock units . that cost is expected to be recognized over a weighted-average period of 1.4 years . common stock repurchase program the company 2019s common stock repurchase program has been in place since august 2004 . in the aggregate , the board of directors has authorized the company to repurchase $ 4 billion of the company 2019s common stock under the program . under the program , the company may repurchase outstanding shares of its common stock from time to time in the open market and through privately negotiated transactions . unless terminated earlier by resolution of the company 2019s board of directors , the repurchase program will expire when the company has repurchased all shares authorized under the program . as of october 30 , 2010 , the company had repurchased a total of approximately 116.0 million shares of its common stock for approximately $ 3948.2 million under this program . an additional $ 51.8 million remains available for repurchase of shares under the current authorized program . the repurchased shares are held as authorized but unissued shares of common stock . any future common stock repurchases will be dependent upon several factors including the amount of cash available to the company in the united states , and the company 2019s financial performance , outlook and liquidity . the company also from time to time repurchases shares in settlement of employee tax withholding obligations due upon the vesting of restricted stock or restricted stock units , or in certain limited circumstances to satisfy the exercise price of options granted to the company 2019s employees under the company 2019s equity compensation plans . preferred stock the company has 471934 authorized shares of $ 1.00 par value preferred stock , none of which is issued or outstanding . the board of directors is authorized to fix designations , relative rights , preferences and limitations on the preferred stock at the time of issuance . analog devices , inc . notes to consolidated financial statements 2014 ( continued ) .

string

value_repurchased = 3948.2 shares_repurchased = 116.0 answer = value_repurchased / shares_repurchased

how long is the weighted- average useful lives of other assets , as a percent of software in the engineered products and solutions segment?

560

CodeFinQA

discounted cash flow model ( dcf ) to estimate the current fair value of its reporting units when testing for impairment , as management believes forecasted cash flows are the best indicator of such fair value . a number of significant assumptions and estimates are involved in the application of the dcf model to forecast operating cash flows , including sales growth ( volumes and pricing ) , production costs , capital spending , and discount rate . most of these assumptions vary significantly among the reporting units . cash flow forecasts are generally based on approved business unit operating plans for the early years and historical relationships in later years . the wacc rate for the individual reporting units is estimated with the assistance of valuation experts . arconic would recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit 2019s fair value without exceeding the total amount of goodwill allocated to that reporting unit . in connection with the interim impairment evaluation of long-lived assets for the disks operations ( an asset group within the aen business unit ) in the second quarter of 2018 , which resulted from a decline in forecasted financial performance for the business in connection with its updated three-year strategic plan , the company also performed an interim impairment evaluation of goodwill for the aen reporting unit . the estimated fair value of the reporting unit was substantially in excess of the carrying value ; thus , there was no impairment of goodwill . goodwill impairment tests in 2017 and 2016 indicated that goodwill was not impaired for any of the company 2019s reporting units , except for the arconic forgings and extrusions ( afe ) business whose estimated fair value was lower than its carrying value . as such , arconic recorded an impairment for the full amount of goodwill in the afe reporting unit of $ 719 . the decrease in the afe fair value was primarily due to unfavorable performance that was impacting operating margins and a higher discount rate due to an increase in the risk-free rate of return , while the carrying value increased compared to prior year . other intangible assets . intangible assets with indefinite useful lives are not amortized while intangible assets with finite useful lives are amortized generally on a straight-line basis over the periods benefited . the following table details the weighted- average useful lives of software and other intangible assets by reporting segment ( numbers in years ) : . | | Software | Other intangible assets | | :--- | :--- | :--- | | Engineered Products and Solutions | 5 | 33 | | Global Rolled Products | 5 | 9 | | Transportation and Construction Solutions | 5 | 16 | revenue recognition . the company's contracts with customers are comprised of acknowledged purchase orders incorporating the company 2019s standard terms and conditions , or for larger customers , may also generally include terms under negotiated multi-year agreements . these contracts with customers typically consist of the manufacture of products which represent single performance obligations that are satisfied upon transfer of control of the product to the customer . the company produces fastening systems ; seamless rolled rings ; investment castings , including airfoils and forged jet engine components ; extruded , machined and formed aircraft parts ; aluminum sheet and plate ; integrated aluminum structural systems ; architectural extrusions ; and forged aluminum commercial vehicle wheels . transfer of control is assessed based on alternative use of the products we produce and our enforceable right to payment for performance to date under the contract terms . transfer of control and revenue recognition generally occur upon shipment or delivery of the product , which is when title , ownership and risk of loss pass to the customer and is based on the applicable shipping terms . the shipping terms vary across all businesses and depend on the product , the country of origin , and the type of transportation ( truck , train , or vessel ) . an invoice for payment is issued at time of shipment . the company 2019s objective is to have net 30-day terms . our business units set commercial terms on which arconic sells products to its customers . these terms are influenced by industry custom , market conditions , product line ( specialty versus commodity products ) , and other considerations . in certain circumstances , arconic receives advanced payments from its customers for product to be delivered in future periods . these advanced payments are recorded as deferred revenue until the product is delivered and title and risk of loss have passed to the customer in accordance with the terms of the contract . deferred revenue is included in other current liabilities and other noncurrent liabilities and deferred credits on the accompanying consolidated balance sheet . environmental matters . expenditures for current operations are expensed or capitalized , as appropriate . expenditures relating to existing conditions caused by past operations , which will not contribute to future revenues , are expensed . liabilities are recorded when remediation costs are probable and can be reasonably estimated . the liability may include costs such as site investigations , consultant fees , feasibility studies , outside contractors , and monitoring expenses . estimates are generally not discounted or reduced by potential claims for recovery . claims for recovery are recognized when probable and as agreements are reached with third parties . the estimates also include costs related to other potentially responsible parties to the extent that arconic has reason to believe such parties will not fully pay their proportionate share . the liability is continuously reviewed and adjusted to reflect current remediation progress , prospective estimates of required activity , and other factors that may be relevant , including changes in technology or regulations . litigation matters . for asserted claims and assessments , liabilities are recorded when an unfavorable outcome of a matter is .

string

other_intangible_assets_weighted_average_useful_life = 33 software_weighted_average_useful_life = 5 percent_other_intangible_assets = other_intangible_assets_weighted_average_useful_life / software_weighted_average_useful_life answer = percent_other_intangible_assets * 100 - 100

considering the years 2013-2015 , what is the highest value of interest incurred?

167.6000061035

CodeFinQA

business separation costs on 16 september 2015 , the company announced that it intends to separate its materials technologies business via a spin-off . during the fourth quarter , we incurred legal and other advisory fees of $ 7.5 ( $ .03 per share ) . gain on previously held equity interest on 30 december 2014 , we acquired our partner 2019s equity ownership interest in a liquefied atmospheric industrial gases production joint venture in north america for $ 22.6 which increased our ownership from 50% ( 50 % ) to 100% ( 100 % ) . the transaction was accounted for as a business combination , and subsequent to the acquisition , the results are consolidated within our industrial gases 2013 americas segment . the assets acquired , primarily plant and equipment , were recorded at their fair value as of the acquisition date . the acquisition date fair value of the previously held equity interest was determined using a discounted cash flow analysis under the income approach . during the first quarter of 2015 , we recorded a gain of $ 17.9 ( $ 11.2 after-tax , or $ .05 per share ) as a result of revaluing our previously held equity interest to fair value as of the acquisition date . advisory costs during the fourth quarter of 2013 , we incurred legal and other advisory fees of $ 10.1 ( $ 6.4 after-tax , or $ .03 per share ) in connection with our response to the rapid acquisition of a large position in shares of our common stock by pershing square capital management llc and its affiliates . other income ( expense ) , net items recorded to other income ( expense ) , net arise from transactions and events not directly related to our principal income earning activities . the detail of other income ( expense ) , net is presented in note 24 , supplemental information , to the consolidated financial statements . 2015 vs . 2014 other income ( expense ) , net of $ 47.3 decreased $ 5.5 . the current year includes a gain of $ 33.6 ( $ 28.3 after-tax , or $ .13 per share ) resulting from the sale of two parcels of land . the gain was partially offset by unfavorable foreign exchange impacts and lower gains on other sales of assets and emissions credits . no other individual items were significant in comparison to the prior year . 2014 vs . 2013 other income ( expense ) , net of $ 52.8 decreased $ 17.4 , primarily due to higher gains from the sale of a number of small assets and investments , higher government grants , and a favorable commercial contract settlement in 2013 . otherwise , no individual items were significant in comparison to 2013 . interest expense . | | 2015 | 2014 | 2013 | | :--- | :--- | :--- | :--- | | Interest incurred | $152.6 | $158.1 | $167.6 | | Less: Capitalized interest | 49.1 | 33.0 | 25.8 | | Interest Expense | $103.5 | $125.1 | $141.8 | 2015 vs . 2014 interest incurred decreased $ 5.5 . the decrease was driven by the impact of a stronger u.s . dollar on the translation of foreign currency interest of $ 12 , partially offset by a higher average debt balance of $ 7 . the change in capitalized interest was driven by a higher carrying value in construction in progress . 2014 vs . 2013 interest incurred decreased $ 9.5 . the decrease was primarily due to a lower average interest rate on the debt portfolio which reduced interest by $ 13 , partially offset by a higher average debt balance which increased interest by $ 6 . the change in capitalized interest was driven by a higher carrying value in construction in progress . loss on early retirement of debt in september 2015 , we made a payment of $ 146.6 to redeem 3000000 unidades de fomento ( 201cuf 201d ) series e 6.30% ( 6.30 % ) bonds due 22 january 2030 that had a carrying value of $ 130.0 and resulted in a net loss of $ 16.6 ( $ 14.2 after-tax , or $ .07 per share ) . .

string

table_row = [152.6, 158.1, 167.6] # row labeled interest incurred a = max(table_row)

what is the aggregate , inclusive of current maturities of total long-term debt 2013 kmp after the implementation of asu 2009-17 is current maturities , in millions?

11546.099609375

CodeFinQA

item 15 . exhibits , financial statement schedules . ( continued ) kinder morgan , inc . form 10-k . | Kinder Morgan Liquids Terminals LLC-N.J. Development Revenue Bonds due January 15, 2018 | 25.0 | 25.0 | | :--- | :--- | :--- | | Kinder Morgan Columbus LLC-5.50% MS Development Revenue note due September 1, 2022 | 8.2 | 8.2 | | Kinder Morgan Operating L.P. “B”-Jackson-Union Cos. IL Revenue Bonds due April 1, 2024 | 23.7 | 23.7 | | International Marine Terminals-Plaquemines, LA Revenue Bonds due March 15, 2025 | 40.0 | 40.0 | | Other miscellaneous subsidiary debt | 1.3 | 1.3 | | Unamortized Debt Discount on Long-term Debt | (20.3) | (21.2) | | Current Maturities of Long-term Debt | (1,263.3) | (596.6) | | Total Long-term Debt– KMP | $10,282.8 | $10,007.5 | ____________ ( a ) as a result of the implementation of asu 2009-17 , effective january 1 , 2010 , we ( i ) include the transactions and balances of our business trust , k n capital trust i and k n capital trust iii , in our consolidated financial statements and ( ii ) no longer include our junior subordinated deferrable interest debentures issued to the capital trusts ( see note 18 201crecent accounting pronouncements 201d ) . ( b ) kmp issued its $ 500 million in principal amount of 9.00% ( 9.00 % ) senior notes due february 1 , 2019 in december 2008 . each holder of the notes has the right to require kmp to repurchase all or a portion of the notes owned by such holder on february 1 , 2012 at a purchase price equal to 100% ( 100 % ) of the principal amount of the notes tendered by the holder plus accrued and unpaid interest to , but excluding , the repurchase date . on and after february 1 , 2012 , interest will cease to accrue on the notes tendered for repayment . a holder 2019s exercise of the repurchase option is irrevocable . kinder morgan kansas , inc . the 2028 and 2098 debentures and the 2012 and 2015 senior notes are redeemable in whole or in part , at kinder morgan kansas , inc . 2019s option at any time , at redemption prices defined in the associated prospectus supplements . the 2027 debentures are redeemable in whole or in part , at kinder morgan kansas , inc . 2019s option after november 1 , 2004 at redemption prices defined in the associated prospectus supplements . on september 2 , 2010 , kinder morgan kansas , inc . paid the remaining $ 1.1 million principal balance outstanding on kinder morgan kansas , inc . 2019s 6.50% ( 6.50 % ) series debentures , due 2013 . kinder morgan finance company , llc on december 20 , 2010 , kinder morgan finance company , llc , a wholly owned subsidiary of kinder morgan kansas , inc. , completed a public offering of senior notes . it issued a total of $ 750 million in principal amount of 6.00% ( 6.00 % ) senior notes due january 15 , 2018 . net proceeds received from the issuance of the notes , after underwriting discounts and commissions , were $ 744.2 million , which were used to retire the principal amount of the 5.35% ( 5.35 % ) senior notes that matured on january 5 , 2011 . the 2011 , 2016 , 2018 and 2036 senior notes issued by kinder morgan finance company , llc are redeemable in whole or in part , at kinder morgan kansas , inc . 2019s option at any time , at redemption prices defined in the associated prospectus supplements . each series of these notes is fully and unconditionally guaranteed by kinder morgan kansas , inc . on a senior unsecured basis as to principal , interest and any additional amounts required to be paid as a result of any withholding or deduction for canadian taxes . capital trust securities kinder morgan kansas , inc . 2019s business trusts , k n capital trust i and k n capital trust iii , are obligated for $ 12.7 million of 8.56% ( 8.56 % ) capital trust securities maturing on april 15 , 2027 and $ 14.4 million of 7.63% ( 7.63 % ) capital trust securities maturing on april 15 , 2028 , respectively , which it guarantees . the 2028 securities are redeemable in whole or in part , at kinder morgan kansas , inc . 2019s option at any time , at redemption prices as defined in the associated prospectus . the 2027 securities are redeemable in whole or in part at kinder morgan kansas , inc . 2019s option and at any time in certain limited circumstances upon the occurrence of certain events and at prices , all defined in the associated prospectus supplements . upon redemption by kinder morgan kansas , inc . or at maturity of the junior subordinated deferrable interest debentures , it must use the proceeds to make redemptions of the capital trust securities on a pro rata basis. .

string

aggregate_debt = 10282.8 + 1263.3 answer = aggregate_debt

the net income increases in 2015 were what percent of the net income changes in 2016?

356

CodeFinQA

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) | | Volume/weather | (5.1) | | Other | (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. .

string

net_income_2015 = 13.9 net_income_2016 = 3.9 percent_change = net_income_2015 / net_income_2016 answer = percent_change * 100

for level 3 financial assets in millions , for 2018 and 2017 , what was the largest balance of derivatives?

4948

CodeFinQA

the goldman sachs group , inc . and subsidiaries notes to consolidated financial statements the table below presents a summary of level 3 financial assets. . | | As of December | | :--- | :--- | | <i>$ in millions</i> | 2018 | 2017 | | Cash instruments | $17,227 | $15,395 | | Derivatives | 4,948 | 3,802 | | Other financial assets | 6 | 4 | | Total | $22,181 | $19,201 | level 3 financial assets as of december 2018 increased compared with december 2017 , primarily reflecting an increase in level 3 cash instruments . see notes 6 through 8 for further information about level 3 financial assets ( including information about unrealized gains and losses related to level 3 financial assets and financial liabilities , and transfers in and out of level 3 ) . note 6 . cash instruments cash instruments include u.s . government and agency obligations , non-u.s . government and agency obligations , mortgage-backed loans and securities , corporate debt instruments , equity securities , investments in funds at nav , and other non-derivative financial instruments owned and financial instruments sold , but not yet purchased . see below for the types of cash instruments included in each level of the fair value hierarchy and the valuation techniques and significant inputs used to determine their fair values . see note 5 for an overview of the firm 2019s fair value measurement policies . level 1 cash instruments level 1 cash instruments include certain money market instruments , u.s . government obligations , most non-u.s . government obligations , certain government agency obligations , certain corporate debt instruments and actively traded listed equities . these instruments are valued using quoted prices for identical unrestricted instruments in active markets . the firm defines active markets for equity instruments based on the average daily trading volume both in absolute terms and relative to the market capitalization for the instrument . the firm defines active markets for debt instruments based on both the average daily trading volume and the number of days with trading activity . level 2 cash instruments level 2 cash instruments include most money market instruments , most government agency obligations , certain non-u.s . government obligations , most mortgage-backed loans and securities , most corporate debt instruments , most state and municipal obligations , most other debt obligations , restricted or less liquid listed equities , commodities and certain lending commitments . valuations of level 2 cash instruments can be verified to quoted prices , recent trading activity for identical or similar instruments , broker or dealer quotations or alternative pricing sources with reasonable levels of price transparency . consideration is given to the nature of the quotations ( e.g. , indicative or firm ) and the relationship of recent market activity to the prices provided from alternative pricing sources . valuation adjustments are typically made to level 2 cash instruments ( i ) if the cash instrument is subject to transfer restrictions and/or ( ii ) for other premiums and liquidity discounts that a market participant would require to arrive at fair value . valuation adjustments are generally based on market evidence . level 3 cash instruments level 3 cash instruments have one or more significant valuation inputs that are not observable . absent evidence to the contrary , level 3 cash instruments are initially valued at transaction price , which is considered to be the best initial estimate of fair value . subsequently , the firm uses other methodologies to determine fair value , which vary based on the type of instrument . valuation inputs and assumptions are changed when corroborated by substantive observable evidence , including values realized on sales . valuation techniques and significant inputs of level 3 cash instruments valuation techniques of level 3 cash instruments vary by instrument , but are generally based on discounted cash flow techniques . the valuation techniques and the nature of significant inputs used to determine the fair values of each type of level 3 cash instrument are described below : loans and securities backed by commercial real estate . loans and securities backed by commercial real estate are directly or indirectly collateralized by a single commercial real estate property or a portfolio of properties , and may include tranches of varying levels of subordination . significant inputs are generally determined based on relative value analyses and include : 2030 market yields implied by transactions of similar or related assets and/or current levels and changes in market indices such as the cmbx ( an index that tracks the performance of commercial mortgage bonds ) ; 118 goldman sachs 2018 form 10-k .

string

table_row = [4948, 3802] # row labeled derivatives a = max(table_row)

what is the percentage of class b-3 common stock in relation with the total class b common stocks in 2009?

41.9000015259

CodeFinQA

interest rate derivatives . in connection with the issuance of floating rate debt in august and october 2008 , the company entered into three interest rate swap contracts , designated as cash flow hedges , for purposes of hedging against a change in interest payments due to fluctuations in the underlying benchmark rate . in december 2010 , the company approved a plan to refinance the term loan in january 2011 resulting in an $ 8.6 million loss on derivative instruments as a result of ineffectiveness on the associated interest rate swap contract . to mitigate counterparty credit risk , the interest rate swap contracts required collateralization by both counterparties for the swaps 2019 aggregate net fair value during their respective terms . collateral was maintained in the form of cash and adjusted on a daily basis . in february 2010 , the company entered into a forward starting interest rate swap contract , designated as a cash flow hedge , for purposes of hedging against a change in interest payments due to fluctuations in the underlying benchmark rate between the date of the swap and the forecasted issuance of fixed rate debt in march 2010 . the swap was highly effective . foreign currency derivatives . in connection with its purchase of bm&fbovespa stock in february 2008 , cme group purchased a put option to hedge against changes in the fair value of bm&fbovespa stock resulting from foreign currency rate fluctuations between the u.s . dollar and the brazilian real ( brl ) beyond the option 2019s exercise price . lehman brothers special financing inc . ( lbsf ) was the sole counterparty to this option contract . on september 15 , 2008 , lehman brothers holdings inc . ( lehman ) filed for protection under chapter 11 of the united states bankruptcy code . the bankruptcy filing of lehman was an event of default that gave the company the right to immediately terminate the put option agreement with lbsf . in march 2010 , the company recognized a $ 6.0 million gain on derivative instruments as a result of a settlement from the lehman bankruptcy proceedings . 21 . capital stock shares outstanding . the following table presents information regarding capital stock: . | | December 31, | | :--- | :--- | | (in thousands) | 2010 | 2009 | | Shares authorized | 1,000,000 | 1,000,000 | | Class A common stock | 66,847 | 66,511 | | Class B-1 common stock | 0.6 | 0.6 | | Class B-2 common stock | 0.8 | 0.8 | | Class B-3 common stock | 1.3 | 1.3 | | Class B-4 common stock | 0.4 | 0.4 | cme group has no shares of preferred stock issued and outstanding . associated trading rights . members of cme , cbot , nymex and comex own or lease trading rights which entitle them to access the trading floors , discounts on trading fees and the right to vote on certain exchange matters as provided for by the rules of the particular exchange and cme group 2019s or the subsidiaries 2019 organizational documents . each class of cme group class b common stock is associated with a membership in a specific division for trading at cme . a cme trading right is a separate asset that is not part of or evidenced by the associated share of class b common stock of cme group . the class b common stock of cme group is intended only to ensure that the class b shareholders of cme group retain rights with respect to representation on the board of directors and approval rights with respect to the core rights described below . trading rights at cbot are evidenced by class b memberships in cbot , at nymex by class a memberships in nymex and at comex by comex division memberships in comex . members of the cbot , nymex and comex exchanges do not have any rights to elect members of the board of directors and are not entitled to receive dividends or other distributions on their memberships . the company is , however , required to have at least 10 cbot directors ( as defined by its bylaws ) until its 2012 annual meeting. .

string

class_b_1_shares = 0.6 class_b_2_shares = 0.8 class_b_3_shares = 1.3 class_b_4_shares = 0.4 total_class_b_shares = class_b_1_shares + class_b_2_shares + class_b_3_shares + class_b_4_shares class_b_3_percent = class_b_3_shares / total_class_b_shares answer = class_b_3_percent * 100

what is the total expected cash payments for obligations in 2007?

464.1000061035

CodeFinQA

credit agency ratings our long-term debt credit ratings as of february 16 , 2007 were ba3 with negative outlook , b creditwatch negative and b with negative outlook , as reported by moody 2019s investors service , standard & poor 2019s and fitch ratings , respectively . a downgrade in our credit ratings could adversely affect our ability to access capital and could result in more stringent covenants and higher interest rates under the terms of any new indebtedness . contractual obligations the following summarizes our estimated contractual obligations at december 31 , 2006 , and their effect on our liquidity and cash flow in future periods: . | | 2007 | 2008 | 2009 | 2010 | 2011 | Thereafter | Total | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Long-term debt¹ | $2.6 | $2.8 | $257.0 | $240.9 | $500.0 | $1,247.9 | $2,251.2 | | Interest payments | 122.0 | 116.1 | 107.1 | 93.6 | 75.1 | 74.1 | 588.0 | | Non-cancelable operating lease obligations | 292.3 | 265.2 | 237.4 | 207.9 | 181.9 | 861.2 | 2,045.9 | | Contingent acquisition payments² | 47.2 | 34.2 | 20.8 | 2.5 | 2.0 | 3.1 | 109.8 | contingent acquisition payments 2 47.2 34.2 20.8 2.5 2.0 3.1 109.8 1 holders of our $ 400.0 4.50% ( 4.50 % ) notes may require us to repurchase their notes for cash at par in march 2008 . these notes will mature in 2023 if not converted or repurchased . 2 we have structured certain acquisitions with additional contingent purchase price obligations in order to reduce the potential risk associated with negative future performance of the acquired entity . all payments are contingent upon achieving projected operating performance targets and satisfying other conditions specified in the related agreements and are subject to revisions as the earn-out periods progress . see note 18 to the consolidated financial statements for further information . we have not included obligations under our pension and postretirement benefit plans in the contractual obligations table . our funding policy regarding our funded pension plan is to contribute amounts necessary to satisfy minimum pension funding requirements plus such additional amounts from time to time as are determined to be appropriate to improve the plans 2019 funded status . the funded status of our pension plans is dependent upon many factors , including returns on invested assets , level of market interest rates and levels of voluntary contributions to the plans . declines in long-term interest rates have had a negative impact on the funded status of the plans . for 2007 , we do not expect to contribute to our domestic pension plans , and expect to contribute $ 20.6 to our foreign pension plans . we have not included our deferred tax obligations in the contractual obligations table as the timing of any future payments in relation to these obligations is uncertain . derivatives and hedging activities we periodically enter into interest rate swap agreements and forward contracts to manage exposure to interest rate fluctuations and to mitigate foreign exchange volatility . in may of 2005 , we terminated all of our long-term interest rate swap agreements covering the $ 350.0 6.25% ( 6.25 % ) senior unsecured notes and $ 150.0 of the $ 500.0 7.25% ( 7.25 % ) senior unsecured notes . in connection with the interest rate swap termination , our net cash receipts were $ 1.1 , which is recorded as an offset to interest expense over the remaining life of the related debt . we have entered into foreign currency transactions in which various foreign currencies are bought or sold forward . these contracts were entered into to meet currency requirements arising from specific transactions . the changes in value of these forward contracts have been recorded in other income or expense . as of december 31 , 2006 and 2005 , we had contracts covering $ 0.2 and $ 6.2 , respectively , of notional amount of currency and the fair value of the forward contracts was negligible . the terms of the 4.50% ( 4.50 % ) notes include two embedded derivative instruments and the terms of our 4.25% ( 4.25 % ) notes and our series b preferred stock each include one embedded derivative instrument . the fair value of these derivatives on december 31 , 2006 was negligible . the interpublic group of companies , inc . and subsidiaries management 2019s discussion and analysis of financial condition and results of operations 2014 ( continued ) ( amounts in millions , except per share amounts ) %%transmsg*** transmitting job : y31000 pcn : 036000000 ***%%pcmsg|36 |00005|yes|no|02/28/2007 01:12|0|0|page is valid , no graphics -- color : d| .

string

long_term_debt_2007 = 2.6 interest_2007 = 122.0 operating_lease_2007 = 292.3 contingent_acquisition_2007 = 47.2 total_obligations_2007 = long_term_debt_2007 + interest_2007 + operating_lease_2007 + contingent_acquisition_2007 answer = total_obligations_2007

by what percent did effects of foreign operations decrease from 2002 to 2004?

76.8000030518

CodeFinQA

gain or loss on ownership change in map results from contributions to map of certain environmental capital expenditures and leased property acquisitions funded by marathon and ashland . in accordance with map 2019s limited liability company agreement , in certain instances , environmental capital expenditures and acquisitions of leased properties are funded by the original contributor of the assets , but no change in ownership interest may result from these contributions . an excess of ashland funded improvements over marathon funded improvements results in a net gain and an excess of marathon funded improvements over ashland funded improvements results in a net loss . cost of revenues increased by $ 5.822 billion in 2004 from 2003 and by $ 6.040 billion in 2003 from 2002 . the increases are primarily in the rm&t segment and result from higher acquisition costs for crude oil , refined products , refinery charge and blend feedstocks and increased manufacturing expenses . selling , general and administrative expenses increased by $ 105 million in 2004 from 2003 and by $ 97 million in 2003 from 2002 . the increase in 2004 was primarily due to increased stock-based compensation and higher costs associated with business transformation and outsourcing . our 2004 results were also impacted by start-up costs associated with the lng project in equatorial guinea and the increased cost of complying with governmental regulations . the increase in 2003 was primarily due to increased employee benefit expenses ( caused by increased pension expense resulting from changes in actuarial assumptions and a decrease in realized returns on plan assets ) and other employee related costs . additionally , during 2003 , we recorded a charge of $ 24 million related to organizational and business process changes . inventory market valuation reserve ( 2018 2018imv 2019 2019 ) is established to reduce the cost basis of inventories to current market value . generally , we will establish an imv reserve when crude oil prices fall below $ 22 per barrel . the 2002 results of operations include credits to income from operations of $ 71 million , reversing the imv reserve at december 31 , 2001 . net interest and other financial costs decreased by $ 25 million in 2004 from 2003 and by $ 82 million in 2003 from 2002 . the decrease in 2004 is primarily due to an increase in interest income . the decrease in 2003 is primarily due to an increase in capitalized interest related to increased long-term construction projects , the favorable effect of interest rate swaps , the favorable effect of a reduction in interest on tax deficiencies and increased interest income on investments . additionally , included in net interest and other financing costs are foreign currency gains of $ 9 million , $ 13 million and $ 8 million for 2004 , 2003 and 2002 . loss from early extinguishment of debt in 2002 was attributable to the retirement of $ 337 million aggregate principal amount of debt , resulting in a loss of $ 53 million . minority interest in income of map , which represents ashland 2019s 38 percent ownership interest , increased by $ 230 million in 2004 from 2003 and by $ 129 million in 2003 from 2002 . map income was higher in 2004 compared to 2003 and in 2003 compared to 2002 as discussed below in the rm&t segment . minority interest in loss of equatorial guinea lng holdings limited , which represents gepetrol 2019s 25 percent ownership interest , was $ 7 million in 2004 , primarily resulting from gepetrol 2019s share of start-up costs associated with the lng project in equatorial guinea . provision for income taxes increased by $ 143 million in 2004 from 2003 and by $ 215 million in 2003 from 2002 , primarily due to $ 388 million and $ 720 million increases in income before income taxes . the effective tax rate for 2004 was 36.6 percent compared to 36.6 percent and 42.1 percent for 2003 and 2002 . the higher rate in 2002 was due to the united kingdom enactment of a supplementary 10 percent tax on profits from the north sea oil and gas production , retroactively effective to april 17 , 2002 . in 2002 , we recognized a one-time noncash deferred tax adjustment of $ 61 million as a result of the rate increase . the following is an analysis of the effective tax rate for the periods presented: . | | 2004 | 2003 | 2002 | | :--- | :--- | :--- | :--- | | Statutory tax rate | 35.0% | 35.0% | 35.0% | | Effects of foreign operations^(a) | 1.3 | (0.4) | 5.6 | | State and local income taxes after federal income tax effects | 1.6 | 2.2 | 3.9 | | Other federal tax effects | (1.3) | (0.2) | (2.4) | | Effective tax rate | 36.6% | 36.6% | 42.1% | ( a ) the deferred tax effect related to the enactment of a supplemental tax in the u.k . increased the effective tax rate 7.0 percent in .

string

foreign_operations_2004 = 1.3 foreign_operations_2003 = 5.6 foreign_operations_change = foreign_operations_2004 - foreign_operations_2003 percent_change = foreign_operations_change / foreign_operations_2003 answer = percent_change * 100

what amount of long-term debt is due in the next 36 months for entergy corporation as of december 31 , 2004 , in millions?

742.700012207

CodeFinQA

entergy corporation notes to consolidated financial statements the annual long-term debt maturities ( excluding lease obligations ) for debt outstanding as of december 31 , 2004 , for the next five years are as follows: . | | (In Thousands) | | :--- | :--- | | 2005 | $467,298 | | 2006 | $75,896 | | 2007 | $199,539 | | 2008 | $747,246 | | 2009 | $512,584 | 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 domestic utility companies or system energy were to default on other indebtedness , entergy could be required to post collateral to support the letter of credit . covenants in the entergy corporation notes require it to maintain a consolidated debt ratio of 65% ( 65 % ) or less of its total capitalization . if entergy's debt ratio exceeds this limit , or if entergy or certain of the domestic utility companies default on other indebtedness or are in bankruptcy or insolvency proceedings , an acceleration of the notes' maturity dates may occur . the long-term securities issuances of entergy corporation , entergy gulf states , entergy louisiana , entergy mississippi , and system energy also are limited to amounts authorized by the sec . under its current sec order , and without further authorization , entergy corporation cannot incur additional indebtedness or issue other securities unless ( a ) it and each of its public utility subsidiaries maintain a common equity ratio of at least 30% ( 30 % ) and ( b ) the security to be issued ( if rated ) and all outstanding securities of entergy corporation that are rated , are rated investment grade by at least one nationally recognized statistical rating agency . under their current sec orders , and without further authorization , entergy gulf states , entergy louisiana , and entergy mississippi cannot incur additional indebtedness or issue other securities unless ( a ) the issuer and entergy corporation maintains a common equity ratio of at least 30% ( 30 % ) and ( b ) the security to be issued ( if rated ) and all outstanding securities of the issuer ( other than preferred stock of entergy gulf states ) , as well as all outstanding securities of entergy corporation , that are rated , are rated investment grade . junior subordinated deferrable interest debentures and implementation of fin 46 entergy implemented fasb interpretation no . 46 , "consolidation of variable interest entities" effective december 31 , 2003 . fin 46 requires existing unconsolidated variable interest entities to be consolidated by their primary beneficiaries if the entities do not effectively disperse risks among their investors . variable interest entities ( vies ) , generally , are entities that do not have sufficient equity to permit the entity to finance its operations without additional financial support from its equity interest holders and/or the group of equity interest holders are collectively not able to exercise control over the entity . the primary beneficiary is the party that absorbs a majority of the entity's expected losses , receives a majority of its expected residual returns , or both as a result of holding the variable interest . a company may have an interest in a vie through ownership or other contractual rights or obligations . entergy louisiana capital i , entergy arkansas capital i , and entergy gulf states capital i ( trusts ) were established as financing subsidiaries of entergy louisiana , entergy arkansas , and entergy gulf states .

string

debt_2005 = 467298 + 75896 debt_2006 = debt_2005 + 199539 debt_2007 = debt_2006 / 1000 answer = debt_2007

what was the change in percentage sales to restaurants from 2005 to 2006?

1

CodeFinQA

customers and products the foodservice industry consists of two major customer types 2014 2018 2018traditional 2019 2019 and 2018 2018chain restaurant . 2019 2019 traditional foodservice customers include restaurants , hospitals , schools , hotels and industrial caterers . sysco 2019s chain restaurant customers include regional and national hamburger , sandwich , pizza , chicken , steak and other chain operations . services to the company 2019s traditional foodservice and chain restaurant customers are supported by similar physical facilities , vehicles , material handling equipment and techniques , and administrative and operating staffs . products distributed by the company include a full line of frozen foods , such as meats , fully prepared entrees , fruits , vegetables and desserts ; a full line of canned and dry foods ; fresh meats ; imported specialties ; and fresh produce . the company also supplies a wide variety of non-food items , including : paper products such as disposable napkins , plates and cups ; tableware such as china and silverware ; cookware such as pots , pans and utensils ; restaurant and kitchen equipment and supplies ; and cleaning supplies . sysco 2019s operating companies distribute nationally-branded merchandise , as well as products packaged under sysco 2019s private brands . the company believes that prompt and accurate delivery of orders , close contact with customers and the ability to provide a full array of products and services to assist customers in their foodservice operations are of primary importance in the marketing and distribution of products to traditional customers . sysco 2019s operating companies offer daily delivery to certain customer locations and have the capability of delivering special orders on short notice . through the more than 13900 sales and marketing representatives and support staff of sysco and its operating companies , sysco stays informed of the needs of its customers and acquaints them with new products and services . sysco 2019s operating companies also provide ancillary services relating to foodservice distribution , such as providing customers with product usage reports and other data , menu-planning advice , food safety training and assistance in inventory control , as well as access to various third party services designed to add value to our customers 2019 businesses . no single customer accounted for 10% ( 10 % ) or more of sysco 2019s total sales for its fiscal year ended july 1 , 2006 . sysco 2019s sales to chain restaurant customers consist of a variety of food products . the company believes that consistent product quality and timely and accurate service are important factors in the selection of a chain restaurant supplier . one chain restaurant customer ( wendy 2019s international , inc. ) accounted for 5% ( 5 % ) of sysco 2019s sales for its fiscal year ended july 1 , 2006 . although this customer represents approximately 37% ( 37 % ) of the sygma segment sales , the company does not believe that the loss of this customer would have a material adverse effect on sysco as a whole . based upon available information , the company estimates that sales by type of customer during the past three fiscal years were as follows: . | Type of Customer | 2006 | 2005 | 2004 | | :--- | :--- | :--- | :--- | | Restaurants | 63% | 64% | 64% | | Hospitals and nursing homes | 10 | 10 | 10 | | Schools and colleges | 5 | 5 | 5 | | Hotels and motels | 6 | 6 | 6 | | Other | 16 | 15 | 15 | | Totals | 100% | 100% | 100% | restaurants **************************************************************** 63% ( 63 % ) 64% ( 64 % ) 64% ( 64 % ) hospitals and nursing homes *************************************************** 10 10 10 schools and colleges ********************************************************* 5 5 5 hotels and motels *********************************************************** 6 6 6 other********************************************************************* 16 15 15 totals ****************************************************************** 100% ( 100 % ) 100% ( 100 % ) 100% ( 100 % ) sources of supply sysco purchases from thousands of suppliers , none of which individually accounts for more than 10% ( 10 % ) of the company 2019s purchases . these suppliers consist generally of large corporations selling brand name and private label merchandise and independent regional brand and private label processors and packers . generally , purchasing is carried out through centrally developed purchasing programs and direct purchasing programs established by the company 2019s various operating companies . the company continually develops relationships with suppliers but has no material long-term purchase commitments with any supplier . in the second quarter of fiscal 2002 , sysco began a project to restructure its supply chain ( national supply chain project ) . this project is intended to increase profitability by lowering aggregate inventory levels , operating costs , and future facility expansion needs at sysco 2019s broadline operating companies while providing greater value to our suppliers and customers . %%transmsg*** transmitting job : h39408 pcn : 004000000 *** %%pcmsg|2 |00010|yes|no|09/06/2006 17:07|0|1|page is valid , no graphics -- color : n| .

string

restaurants_2006 = 0.63 restaurants_2005 = 0.64 difference = restaurants_2006 - restaurants_2005 answer = difference * 100

what is the percent change in estimated amortization expense for finite-lived intangible assets from 2010 to 2011?

1.9099999666

CodeFinQA

blackrock n 96 n notes in april 2009 , the company acquired $ 2 million of finite- lived management contracts with a five-year estimated useful life associated with the acquisition of the r3 capital partners funds . in december 2009 , in conjunction with the bgi trans- action , the company acquired $ 163 million of finite- lived management contracts with a weighted-average estimated useful life of approximately 10 years . estimated amortization expense for finite-lived intangible assets for each of the five succeeding years is as follows : ( dollar amounts in millions ) . | 2010 | $160 | | :--- | :--- | | 2011 | 157 | | 2012 | 156 | | 2013 | 155 | | 2014 | 149 | indefinite-lived acquired management contracts on september 29 , 2006 , in conjunction with the mlim transaction , the company acquired indefinite-lived man- agement contracts valued at $ 4477 million consisting of $ 4271 million for all retail mutual funds and $ 206 million for alternative investment products . on october 1 , 2007 , in conjunction with the quellos transaction , the company acquired $ 631 million in indefinite-lived management contracts associated with alternative investment products . on october 1 , 2007 , the company purchased the remain- ing 20% ( 20 % ) of an investment manager of a fund of hedge funds . in conjunction with this transaction , the company recorded $ 8 million in additional indefinite-lived management contracts associated with alternative investment products . on december 1 , 2009 , in conjunction with the bgi transaction , the company acquired $ 9785 million in indefinite-lived management contracts valued consisting primarily for exchange traded funds and common and collective trusts . indefinite-lived acquired trade names/trademarks on december 1 , 2009 , in conjunction with the bgi transaction , the company acquired trade names/ trademarks primarily related to ishares valued at $ 1402.5 million . the fair value was determined using a royalty rate based primarily on normalized marketing and promotion expenditures to develop and support the brands globally . 13 . borrowings short-term borrowings 2007 facility in august 2007 , the company entered into a five-year $ 2.5 billion unsecured revolving credit facility ( the 201c2007 facility 201d ) , which permits the company to request an additional $ 500 million of borrowing capacity , subject to lender credit approval , up to a maximum of $ 3.0 billion . the 2007 facility requires the company not to exceed a maximum leverage ratio ( ratio of net debt to earnings before interest , taxes , depreciation and amortiza- tion , where net debt equals total debt less domestic unrestricted cash ) of 3 to 1 , which was satisfied with a ratio of less than 1 to 1 at december 31 , 2009 . the 2007 facility provides back-up liquidity , funds ongoing working capital for general corporate purposes and funds various investment opportunities . at december 31 , 2009 , the company had $ 200 million outstanding under the 2007 facility with an interest rate of 0.44% ( 0.44 % ) and a maturity date during february 2010 . during february 2010 , the company rolled over $ 100 million in borrowings with an interest rate of 0.43% ( 0.43 % ) and a maturity date in may 2010 . lehman commercial paper inc . has a $ 140 million participation under the 2007 facility ; however blackrock does not expect that lehman commercial paper inc . will honor its commitment to fund additional amounts . bank of america , a related party , has a $ 140 million participation under the 2007 facility . in december 2007 , in order to support two enhanced cash funds that blackrock manages , blackrock elected to procure two letters of credit under the existing 2007 facility in an aggregate amount of $ 100 million . in decem- ber 2008 , the letters of credit were terminated . commercial paper program on october 14 , 2009 , blackrock established a com- mercial paper program ( the 201ccp program 201d ) under which the company may issue unsecured commercial paper notes ( the 201ccp notes 201d ) on a private placement basis up to a maximum aggregate amount outstanding at any time of $ 3 billion . the proceeds of the commercial paper issuances were used for the financing of a portion of the bgi transaction . subsidiaries of bank of america and barclays , as well as other third parties , act as dealers under the cp program . the cp program is supported by the 2007 facility . the company began issuance of cp notes under the cp program on november 4 , 2009 . as of december 31 , 2009 , blackrock had approximately $ 2 billion of out- standing cp notes with a weighted average interest rate of 0.20% ( 0.20 % ) and a weighted average maturity of 23 days . since december 31 , 2009 , the company repaid approxi- mately $ 1.4 billion of cp notes with proceeds from the long-term notes issued in december 2009 . as of march 5 , 2010 , blackrock had $ 596 million of outstanding cp notes with a weighted average interest rate of 0.18% ( 0.18 % ) and a weighted average maturity of 38 days . japan commitment-line in june 2008 , blackrock japan co. , ltd. , a wholly owned subsidiary of the company , entered into a five billion japanese yen commitment-line agreement with a bank- ing institution ( the 201cjapan commitment-line 201d ) . the term of the japan commitment-line was one year and interest accrued at the applicable japanese short-term prime rate . in june 2009 , blackrock japan co. , ltd . renewed the japan commitment-line for a term of one year . the japan commitment-line is intended to provide liquid- ity and flexibility for operating requirements in japan . at december 31 , 2009 , the company had no borrowings outstanding on the japan commitment-line . convertible debentures in february 2005 , the company issued $ 250 million aggregate principal amount of convertible debentures ( the 201cdebentures 201d ) , due in 2035 and bearing interest at a rate of 2.625% ( 2.625 % ) per annum . interest is payable semi- annually in arrears on february 15 and august 15 of each year , and commenced august 15 , 2005 . prior to february 15 , 2009 , the debentures could have been convertible at the option of the holder at a decem- ber 31 , 2008 conversion rate of 9.9639 shares of common stock per one dollar principal amount of debentures under certain circumstances . the debentures would have been convertible into cash and , in some situations as described below , additional shares of the company 2019s common stock , if during the five business day period after any five consecutive trading day period the trading price per debenture for each day of such period is less than 103% ( 103 % ) of the product of the last reported sales price of blackrock 2019s common stock and the conversion rate of the debentures on each such day or upon the occurrence of certain other corporate events , such as a distribution to the holders of blackrock common stock of certain rights , assets or debt securities , if the company becomes party to a merger , consolidation or transfer of all or substantially all of its assets or a change of control of the company . on february 15 , 2009 , the debentures became convertible into cash at any time prior to maturity at the option of the holder and , in some situations as described below , additional shares of the company 2019s common stock at the current conversion rate . at the time the debentures are tendered for conver- sion , for each one dollar principal amount of debentures converted , a holder shall be entitled to receive cash and shares of blackrock common stock , if any , the aggregate value of which ( the 201cconversion value 201d ) will be deter- mined by multiplying the applicable conversion rate by the average of the daily volume weighted average price of blackrock common stock for each of the ten consecutive trading days beginning on the second trading day imme- diately following the day the debentures are tendered for conversion ( the 201cten-day weighted average price 201d ) . the company will deliver the conversion value to holders as follows : ( 1 ) an amount in cash ( the 201cprincipal return 201d ) equal to the lesser of ( a ) the aggregate conversion value of the debentures to be converted and ( b ) the aggregate principal amount of the debentures to be converted , and ( 2 ) if the aggregate conversion value of the debentures to be converted is greater than the principal return , an amount in shares ( the 201cnet shares 201d ) , determined as set forth below , equal to such aggregate conversion value less the principal return ( the 201cnet share amount 201d ) . the number of net shares to be paid will be determined by dividing the net share amount by the ten-day weighted average price . in lieu of delivering fractional shares , the company will deliver cash based on the ten-day weighted average price . the conversion rate for the debentures is subject to adjustments upon the occurrence of certain corporate events , such as a change of control of the company , 193253ti_txt.indd 96 4/2/10 1:18 pm .

string

estimated_amortization_expense_change = 160 - 157 answer = estimated_amortization_expense_change / 157 * 100

what was the company's share of the value of the 521 fifth avenue acquisition based on the transaction cost?

122604304

CodeFinQA

sl green realty corp . it happens here 2012 annual report 85 | 85 in april a02011 , we purchased sitq immobilier , a subsid- iary of caisse de depot et placement du quebec , or sitq 2019s , 31.5% ( 31.5 % ) economic interest in 1515 a0 broadway , thereby consoli- dating full ownership of the 1750000 a0square foot ( unaudited ) building . the transaction valued the consolidated interests at $ 1.23 a0 billion . this valuation was based on a negotiated sales agreement and took into consideration such factors as whether this was a distressed sale and whether a minority dis- count was warranted . we acquired the interest subject to the $ 458.8 a0million mortgage encumbering the property . we rec- ognized a purchase price fair value adjustment of $ 475.1 a0mil- lion upon the closing of this transaction . this property , which we initially acquired in may a02002 , was previously accounted for as an investment in unconsolidated joint ventures . in january a0 2011 , we purchased city investment fund , or cif 2019s , 49.9% ( 49.9 % ) a0interest in 521 a0fifth avenue , thereby assum- ing full ownership of the 460000 a0 square foot ( unaudited ) building . the transaction valued the consolidated interests at approximately $ 245.7 a0 million , excluding $ 4.5 a0 million of cash and other assets acquired . we acquired the interest subject to the $ 140.0 a0 million mortgage encumbering the property . we recognized a purchase price fair value adjust- ment of $ 13.8 a0million upon the closing of this transaction . in april a02011 , we refinanced the property with a new $ 150.0 a0mil- lion 2-year mortgage which carries a floating rate of interest of 200 a0basis points over the 30-day libor . in connection with that refinancing , we acquired the fee interest in the property for $ 15.0 a0million . the following summarizes our allocation of the purchase price of the assets acquired and liabilities assumed upon the closing of these 2011 acquisitions ( amounts in thousands ) : 51 east 180 110 east 1515 521 fifth 42nd street maiden lane 42nd street broadway avenue land fffd$ 44095 $ 191523 $ 34000 $ 2002 2008462700 $ 110100 . | | 51 East 42^nd Street | 180 Maiden Lane | 110 East 42^nd Street | 1515 Broadway | 521 Fifth Avenue | | :--- | :--- | :--- | :--- | :--- | :--- | | Land | $44,095 | $191,523 | $34,000 | $462,700 | $110,100 | | Building | 33,470 | 233,230 | 46,411 | 707,938 | 146,686 | | Above market lease value | 5,616 | 7,944 | 823 | 18,298 | 3,318 | | Acquired in-place leases | 4,333 | 29,948 | 5,396 | 98,661 | 23,016 | | Other assets, net of other liabilities | — | — | — | 27,127 | — | | Assets acquired | 87,514 | 462,645 | 86,630 | 1,314,724 | 283,120 | | Fair value adjustment to mortgage note payable | — | — | — | (3,693) | — | | Below market lease value | 7,514 | 20,320 | 2,326 | 84,417 | 25,977 | | Liabilities assumed | 7,514 | 20,320 | 2,326 | 80,724 | 25,977 | | Purchase price allocation | $80,000 | $442,325 | $84,304 | $1,234,000 | $257,143 | | Net consideration funded by us at closing | $81,632 | $81,835 | $2,744 | $259,228 | $70,000 | | Equity and/or debt investment held | — | — | $16,000 | $40,942 | $41,432 | | Debt assumed | $— | $— | $65,000 | $458,767 | $140,000 | net consideration funded by us at closing fffd$ 81632 $ 200281835 $ 20022744 $ 2002 2008259228 $ 200270000 equity and/or debt investment held fffd 2014 2014 $ 16000 $ 2002 2002 200840942 $ 200241432 debt assumed fffd$ 2002 2002 2002 2002 2008 2014 $ 2002 2002 2002 2002 2002 2008 2014 $ 65000 $ 2002 2008458767 $ 140000 2010 acquisitions | in january 2010 , we became the sole owner of 100 a0church street , a 1.05 a0million square foot ( unau- dited ) office tower located in downtown manhattan , following the successful foreclosure of the senior mezzanine loan at the property . our initial investment totaled $ 40.9 a0million , which was comprised of a 50% ( 50 % ) a0interest in the senior mezzanine loan and two other mezzanine loans at 100 a0 church street , which we acquired from gramercy capital corp . ( nyse : a0gkk ) , or gramercy , in the summer of a0 2007 . at closing of the foreclo- sure , we funded an additional $ 15.0 a0million of capital into the project as part of our agreement with wachovia bank , n.a . to extend and restructure the existing financing . gramercy declined to fund its share of this capital and instead trans- ferred its interests in the investment to us at closing . the restructured $ 139.7 a0million mortgage carries an interest rate of 350 a0basis points over the 30-day libor . the restructured mortgage , which was scheduled to mature in january a0 2013 , was repaid in march a02011 . in august a0 2010 , we acquired 125 a0 park avenue , a manhattan office tower , for $ 330 a0million . in connection with the acquisition , we assumed $ 146.25 a0million of in-place financ- ing . the 5.748% ( 5.748 % ) interest-only loan matures in october a02014 . in december a02010 , we completed the acquisition of various investments from gramercy . this acquisition included ( 1 ) a0the remaining 45% ( 45 % ) a0interest in the leased fee at 885 a0third avenue for approximately $ 39.3 a0 million plus assumed mortgage debt of approximately $ 120.4 a0million , ( 2 ) a0the remaining 45% ( 45 % ) interest in the leased fee at 2 a0 herald square for approxi- mately $ 25.6 a0 million plus assumed mortgage debt of approximately $ 86.1 a0 million and , ( 3 ) a0 the entire leased fee interest in 292 a0madison avenue for approximately $ 19.2 a0mil- lion plus assumed mortgage debt of approximately $ 59.1 a0million . these assets are all leased to third a0party operators. .

string

interest_paid = 245.7 interest_rate = 0.499 value = interest_paid * interest_rate * 1000000 answer = value

in december 2014 , what was the percentage of the total future minimum lease payments that was due in 2016

13

CodeFinQA

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 options are not considered to be potentially significant to the vies . the future minimum lease payments associated with the vie leases totaled $ 3.0 billion as of december 31 , 2014 . 17 . leases we lease certain locomotives , freight cars , and other property . the consolidated statements of financial position as of december 31 , 2014 and 2013 included $ 2454 million , net of $ 1210 million of accumulated depreciation , and $ 2486 million , net of $ 1092 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 , 2014 , were as follows : millions operating leases capital leases . | <i>Millions</i> | <i>Operating</i><i>Leases</i> | <i>Capital</i><i>Leases</i> | | :--- | :--- | :--- | | 2015 | $508 | $253 | | 2016 | 484 | 249 | | 2017 | 429 | 246 | | 2018 | 356 | 224 | | 2019 | 323 | 210 | | Later years | 1,625 | 745 | | Total minimum leasepayments | $3,725 | $1,927 | | Amount representing interest | N/A | (407) | | Present value of minimum leasepayments | N/A | $1,520 | approximately 95% ( 95 % ) of capital lease payments relate to locomotives . rent expense for operating leases with terms exceeding one month was $ 593 million in 2014 , $ 618 million in 2013 , and $ 631 million in 2012 . 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 . 18 . commitments and contingencies asserted and unasserted claims 2013 various claims and lawsuits are pending against us and certain of our subsidiaries . we cannot fully determine the effect of all asserted and unasserted claims on our consolidated results of operations , financial condition , or liquidity ; however , to the extent possible , where asserted and unasserted claims are considered probable and where such claims can be reasonably estimated , we have recorded a liability . we do not expect that any known lawsuits , claims , environmental costs , commitments , contingent liabilities , or guarantees will have a material adverse effect on our consolidated results of operations , financial condition , or liquidity after taking into account liabilities and insurance recoveries previously recorded for these matters . personal injury 2013 the cost of personal injuries to employees and others related to our activities is charged to expense based on estimates of the ultimate cost and number of incidents each year . we use an actuarial analysis to measure the expense and liability , including unasserted claims . the federal employers 2019 liability act ( fela ) governs compensation for work-related accidents . under fela , damages are assessed based on a finding of fault through litigation or out-of-court settlements . we offer a comprehensive variety of services and rehabilitation programs for employees who are injured at work . our personal injury liability is not discounted to present value due to the uncertainty surrounding the timing of future payments . approximately 93% ( 93 % ) of the recorded liability is related to asserted claims and approximately 7% ( 7 % ) is related to unasserted claims at december 31 , 2014 . because of the uncertainty .

string

total_future_minimum_lease_payments = 484 + 249 total_remaining = 3725 + 1927 percent_future_minimum_lease_payments = total_future_minimum_lease_payments / total_remaining answer = percent_future_minimum_lease_payments * 100

based on the analysis of the change in net revenue what was the percent of the annual change in net revenue sourced from realized price changes

58.5999984741

CodeFinQA

entergy corporation and subsidiaries management's financial discussion and analysis the retail electric price variance resulted from rate increases primarily at entergy louisiana effective september 2006 for the 2005 formula rate plan filing to recover lpsc-approved incremental deferred and ongoing purchased power capacity costs . the formula rate plan filing is discussed in note 2 to the financial statements . the volume/weather variance resulted primarily from increased electricity usage in the residential and commercial sectors , including increased usage during the unbilled sales period . billed retail electricity usage increased by a total of 1591 gwh , an increase of 1.6% ( 1.6 % ) . see "critical accounting estimates" herein and note 1 to the financial statements for a discussion of the accounting for unbilled revenues . the fuel recovery variance is primarily due to the inclusion of grand gulf costs in entergy new orleans' fuel recoveries effective july 1 , 2006 . in june 2006 , the city council approved the recovery of grand gulf costs through the fuel adjustment clause , without a corresponding change in base rates ( a significant portion of grand gulf costs was previously recovered through base rates ) . the increase is also due to purchased power costs deferred at entergy louisiana and entergy new orleans as a result of the re-pricing , retroactive to 2003 , of purchased power agreements among entergy system companies as directed by the ferc . the transmission revenue variance is due to higher rates and the addition of new transmission customers in late-2006 . the purchased power capacity variance is due to higher capacity charges and new purchased power contracts that began in mid-2006 . a portion of the variance is due to the amortization of deferred capacity costs and is offset in base revenues due to base rate increases implemented to recover incremental deferred and ongoing purchased power capacity charges at entergy louisiana , as discussed above . the net wholesale revenue variance is due primarily to 1 ) more energy available for resale at entergy new orleans in 2006 due to the decrease in retail usage caused by customer losses following hurricane katrina and 2 ) the inclusion in 2006 revenue of sales into the wholesale market of entergy new orleans' share of the output of grand gulf , pursuant to city council approval of measures proposed by entergy new orleans to address the reduction in entergy new orleans' retail customer usage caused by hurricane katrina and to provide revenue support for the costs of entergy new orleans' share of grand gulf . the net wholesale revenue variance is partially offset by the effect of lower wholesale revenues in the third quarter 2006 due to an october 2006 ferc order requiring entergy arkansas to make a refund to a coal plant co-owner resulting from a contract dispute . non-utility nuclear following is an analysis of the change in net revenue comparing 2007 to 2006 . amount ( in millions ) . | | Amount (In Millions) | | :--- | :--- | | 2006 net revenue | $1,388 | | Realized price changes | 264 | | Palisades acquisition | 209 | | Volume variance (other than Palisades) | (56) | | Other | 34 | | 2007 net revenue | $1,839 | as shown in the table above , net revenue increased for non-utility nuclear by $ 451 million , or 33% ( 33 % ) , for 2007 compared to 2006 primarily due to higher pricing in its contracts to sell power and additional production available resulting from the acquisition of the palisades plant in april 2007 . included in the palisades net revenue is $ 50 million of amortization of the palisades purchased power agreement in 2007 , which is non-cash revenue and is discussed in note 15 to the financial statements . the increase was partially offset by the effect on revenues of four .

string

realized_price_change_percent = 264 / 451 answer = realized_price_change_percent * 100

in millions for 2015 , 2014 , and 2013 , what was the lowest amount of commissions and fees?

3103

CodeFinQA

the goldman sachs group , inc . and subsidiaries management 2019s discussion and analysis equities . includes client execution activities related to making markets in equity products and commissions and fees from executing and clearing institutional client transactions on major stock , options and futures exchanges worldwide , as well as otc transactions . equities also includes our securities services business , which provides financing , securities lending and other prime brokerage services to institutional clients , including hedge funds , mutual funds , pension funds and foundations , and generates revenues primarily in the form of interest rate spreads or fees . the table below presents the operating results of our institutional client services segment. . | | Year Ended December | | :--- | :--- | | <i>$ in millions</i> | 2015 | 2014 | 2013 | | Fixed Income, Currency and Commodities Client Execution | $ 7,322 | $ 8,461 | $ 8,651 | | Equities client execution¹ | 3,028 | 2,079 | 2,594 | | Commissions and fees | 3,156 | 3,153 | 3,103 | | Securities services | 1,645 | 1,504 | 1,373 | | Total Equities | 7,829 | 6,736 | 7,070 | | Total net revenues | 15,151 | 15,197 | 15,721 | | Operating expenses | 13,938 | 10,880 | 11,792 | | Pre-tax earnings | $ 1,213 | $ 4,317 | $ 3,929 | 1 . net revenues related to the americas reinsurance business were $ 317 million for 2013 . in april 2013 , we completed the sale of a majority stake in our americas reinsurance business and no longer consolidate this business . 2015 versus 2014 . net revenues in institutional client services were $ 15.15 billion for 2015 , essentially unchanged compared with 2014 . net revenues in fixed income , currency and commodities client execution were $ 7.32 billion for 2015 , 13% ( 13 % ) lower than 2014 . excluding a gain of $ 168 million in 2014 related to the extinguishment of certain of our junior subordinated debt , net revenues in fixed income , currency and commodities client execution were 12% ( 12 % ) lower than 2014 , reflecting significantly lower net revenues in mortgages , credit products and commodities . the decreases in mortgages and credit products reflected challenging market-making conditions and generally low levels of activity during 2015 . the decline in commodities primarily reflected less favorable market-making conditions compared with 2014 , which included a strong first quarter of 2014 . these decreases were partially offset by significantly higher net revenues in interest rate products and currencies , reflecting higher volatility levels which contributed to higher client activity levels , particularly during the first quarter of 2015 . net revenues in equities were $ 7.83 billion for 2015 , 16% ( 16 % ) higher than 2014 . excluding a gain of $ 121 million ( $ 30 million and $ 91 million included in equities client execution and securities services , respectively ) in 2014 related to the extinguishment of certain of our junior subordinated debt , net revenues in equities were 18% ( 18 % ) higher than 2014 , primarily due to significantly higher net revenues in equities client execution across the major regions , reflecting significantly higher results in both derivatives and cash products , and higher net revenues in securities services , reflecting the impact of higher average customer balances and improved securities lending spreads . commissions and fees were essentially unchanged compared with 2014 . the firm elects the fair value option for certain unsecured borrowings . the fair value net gain attributable to the impact of changes in our credit spreads on these borrowings was $ 255 million ( $ 214 million and $ 41 million related to fixed income , currency and commodities client execution and equities client execution , respectively ) for 2015 , compared with a net gain of $ 144 million ( $ 108 million and $ 36 million related to fixed income , currency and commodities client execution and equities client execution , respectively ) for 2014 . during 2015 , the operating environment for institutional client services was positively impacted by diverging central bank monetary policies in the united states and the euro area in the first quarter , as increased volatility levels contributed to strong client activity levels in currencies , interest rate products and equity products , and market- making conditions improved . however , during the remainder of the year , concerns about global growth and uncertainty about the u.s . federal reserve 2019s interest rate policy , along with lower global equity prices , widening high-yield credit spreads and declining commodity prices , contributed to lower levels of client activity , particularly in mortgages and credit , and more difficult market-making conditions . if macroeconomic concerns continue over the long term and activity levels decline , net revenues in institutional client services would likely be negatively impacted . operating expenses were $ 13.94 billion for 2015 , 28% ( 28 % ) higher than 2014 , due to significantly higher net provisions for mortgage-related litigation and regulatory matters , partially offset by decreased compensation and benefits expenses . pre-tax earnings were $ 1.21 billion in 2015 , 72% ( 72 % ) lower than 2014 . 62 goldman sachs 2015 form 10-k .

string

table_row = [3156, 3153, 3103] # row labeled commissions and fees a = min(table_row)

in 2005 what was the percent of the weighted-average supply of berths marketed globally in the north america

66

CodeFinQA

the following table details the growth in the global and north american cruise markets in terms of cruise passengers and estimated weighted-average berths over the past five years : we compete with a number of cruise lines ; however , our principal competitors are carnival corporation & plc , which owns , among others , aida cruises , carnival cruise lines , costa cruises , cunard line , holland america line , iberocruceros , p&o cruises and princess cruises ; disney cruise line ; msc cruises ; norwegian cruise line and oceania cruises . cruise lines compete with other vacation alternatives such as land-based resort hotels and sightseeing destinations for consumers 2019 leisure time . demand for such activities is influenced by political and general economic conditions . companies within the vacation market are dependent on consumer discretionary spending . our ships operate worldwide and have itineraries that call on destinations in alaska , asia , australia , the bahamas , bermuda , california , canada , the caribbean , europe , the galapagos islands , hawaii , mexico , the middle east , new england , new zealand , the panama canal and south america . in an effort to penetrate untapped markets and diversify our customer base , we continue to seek opportunities to redeploy ships in our royal caribbean international , celebrity cruises and azamara club cruises brands to new markets and itineraries throughout the world . the portability of our ships and our investment in infrastructure allows us to expand into new markets and helps us reduce our dependency on any one market by allowing us to create 201chome ports 201d around the world . in addition , it allows us to readily redeploy our ships to meet demand within our existing cruise markets . the current economic environment has significantly deteriorated consumer confidence and discretionary spending . while there has been a decrease in the demand for cruises and a resulting drop in cruise prices , cruising has proven to be resilient as it offers consumers a good value when compared to other vacation alternatives . however , the projected increase in capacity within the cruise industry from new cruise ships currently on order could produce additional pricing pressures within the industry . see item 1a . risk factors . global cruise passengers ( 1 ) weighted-average supply of berths marketed globally ( 1 ) north american cruise passengers ( 2 ) weighted-average supply of berths marketed in america ( 1 ) . | Year | Global Cruise Passengers(1) | Weighted-Average Supply of Berths Marketed Globally(1) | North American Cruise Passengers(2) | Weighted-Average Supply of Berths Marketed in North America(1) | | :--- | :--- | :--- | :--- | :--- | | 2005 | 14,818,000 | 288,000 | 9,909,000 | 190,000 | | 2006 | 15,309,000 | 304,000 | 10,080,000 | 201,000 | | 2007 | 16,586,000 | 327,000 | 10,330,000 | 212,000 | | 2008 | 17,184,000 | 347,000 | 10,093,000 | 219,000 | | 2009 | 17,340,000 | 363,000 | 10,169,000 | 222,000 | 1 ) source : our estimates of the number of global cruise passengers , and the weighted-average supply of berths marketed globally and in north america are based on a combination of data that we obtain from various publicly available cruise industry trade information sources including seatrade insider and cruise line international association . in addition , our estimates incorporate our own statistical analysis utilizing the same publicly available cruise industry data as a base . 2 ) source : cruise line international association based on cruise passengers carried for at least two consecutive nights for years 2005 through 2008 . year 2009 amounts represent our estimates ( see number 1 above ) . .

string

global_cruise_passengers_2005 = 14818000 global_cruise_berths_2005 = 288000 north_american_cruise_passengers_2005 = 9909000 north_american_cruise_berths_2005 = 190000 percent_global_supply_2005 = north_american_cruise_berths_2005 / global_cruise_berths_2005 answer = percent_global_supply_2005 * 100

what was the percentage decrease in the 2013 balance from the beginning of the year to the end of the year?

72.8199996948

CodeFinQA

kimco realty corporation and subsidiaries notes to consolidated financial statements , continued uncertain tax positions : the company is subject to income tax in certain jurisdictions outside the u.s. , principally canada and mexico . the statute of limitations on assessment of tax varies from three to seven years depending on the jurisdiction and tax issue . tax returns filed in each jurisdiction are subject to examination by local tax authorities . the company is currently under audit by the canadian revenue agency , mexican tax authority and the u.s . internal revenue service ( 201cirs 201d ) . in october 2011 , the irs issued a notice of proposed adjustment , which proposes pursuant to section 482 of the code , to disallow a capital loss claimed by krs on the disposition of common shares of valad property ltd. , an australian publicly listed company . because the adjustment is being made pursuant to section 482 of the code , the irs believes it can assert a 100 percent 201cpenalty 201d tax pursuant to section 857 ( b ) ( 7 ) of the code and disallow the capital loss deduction . the notice of proposed adjustment indicates the irs 2019 intention to impose the 100 percent 201cpenalty 201d tax on the company in the amount of $ 40.9 million and disallowing the capital loss claimed by krs . the company and its outside counsel have considered the irs 2019 assessment and believe that there is sufficient documentation establishing a valid business purpose for the transfer , including recent case history showing support for similar positions . accordingly , the company strongly disagrees with the irs 2019 position on the application of section 482 of the code to the disposition of the shares , the imposition of the 100 percent penalty tax and the simultaneous assertion of the penalty tax and disallowance of the capital loss deduction . the company received a notice of proposed assessment and filed a written protest and requested an irs appeals office conference . an appeals hearing was attended by management and its attorneys , the irs compliance group and an irs appeals officer in november , 2014 , at which time irs compliance presented arguments in support of their position , as noted herein . management and its attorneys presented rebuttal arguments in support of its position . the matter is currently under consideration by the appeals officer . the company intends to vigorously defend its position in this matter and believes it will prevail . resolutions of these audits are not expected to have a material effect on the company 2019s financial statements . during 2013 , the company early adopted asu 2013-11 prospectively and reclassified a portion of its reserve for uncertain tax positions . the reserve for uncertain tax positions included amounts related to the company 2019s canadian operations . the company has unrecognized tax benefits reported as deferred tax assets and are available to settle adjustments made with respect to the company 2019s uncertain tax positions in canada . the company reduced its reserve for uncertain tax positions by $ 12.3 million associated with its canadian operations and reduced its deferred tax assets in accordance with asu 2013-11 . the company does not believe that the total amount of unrecognized tax benefits as of december 31 , 2014 , will significantly increase or decrease within the next 12 months . as of december 31 , 2014 , the company 2019s canadian uncertain tax positions , which reduce its deferred tax assets , aggregated $ 10.4 million . the liability for uncertain tax benefits principally consists of estimated foreign , federal and state income tax liabilities in years for which the statute of limitations is open . open years range from 2008 through 2014 and vary by jurisdiction and issue . the aggregate changes in the balance of unrecognized tax benefits for the years ended december 31 , 2014 and 2013 were as follows ( in thousands ) : . | | 201 4 | 2013 | | :--- | :--- | :--- | | Balance, beginning of year | $4,590 | $16,890 | | Increases for tax positions related to current year | 59 | 15 | | Reduction due to adoption of ASU 2013-11(a) | - | (12,315) | | Balance, end of year | $4,649 | $4,590 | ( a ) this amount was reclassified against the related deferred tax asset relating to the company 2019s early adoption of asu 2013-11 as discussed above. .

string

change_in_balance = 16890 - 4590 percent_change = change_in_balance / 16890 answer = percent_change * 100

what percentage of contractual obligations for future payments under existing debt and lease commitments and purchase obligations at december 31 , 2012 is short term for the year 2013?

88

CodeFinQA

through current cash balances and cash from oper- ations . additionally , the company has existing credit facilities totaling $ 2.5 billion . the company was in compliance with all its debt covenants at december 31 , 2012 . 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 calcu- lation also excludes accumulated other compre- hensive 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 , 2012 , international paper 2019s net worth was $ 13.9 bil- lion , and the total-debt-to-capital ratio was 42% ( 42 % ) . 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 capi- tal 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 , 2012 , the company held long-term credit ratings of bbb ( stable outlook ) and baa3 ( 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 , 2012 , were as follows: . | In millions | 2013 | 2014 | 2015 | 2016 | 2017 | Thereafter | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Maturities of long-term debt (a) | $444 | $708 | $479 | $571 | $216 | $7,722 | | Debt obligations with right of offset (b) | — | — | — | 5,173 | — | — | | Lease obligations | 198 | 136 | 106 | 70 | 50 | 141 | | Purchase obligations (c) | 3,213 | 828 | 722 | 620 | 808 | 2,654 | | Total (d) | $3,855 | $1,672 | $1,307 | $6,434 | $1,074 | $10,517 | ( 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 con- solidated balance sheet at december 31 , 2012 , international paper has offset approximately $ 5.2 billion of interests in the entities against this $ 5.2 billion of debt obligations held by the entities ( see note 11 variable interest entities and preferred securities of subsidiaries on pages 69 through 72 in item 8 . financial statements and supplementary data ) . ( c ) includes $ 3.6 billion relating to fiber supply agreements entered into at the time of the 2006 transformation plan forest- land 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 bene- fits of approximately $ 620 million . we consider the undistributed earnings of our for- eign subsidiaries as of december 31 , 2012 , to be indefinitely reinvested and , accordingly , no u.s . income taxes have been provided thereon . as of december 31 , 2012 , the amount of cash associated with indefinitely reinvested foreign earnings was approximately $ 840 million . we do not anticipate the need to repatriate funds to the united states to sat- isfy domestic liquidity needs arising in the ordinary course of business , including liquidity needs asso- ciated with our domestic debt service requirements . pension obligations and funding at december 31 , 2012 , the projected benefit obliga- tion for the company 2019s u.s . defined benefit plans determined under u.s . gaap was approximately $ 4.1 billion higher than the fair value of plan assets . approximately $ 3.7 billion of this amount relates to plans that are subject to minimum funding require- ments . under current irs funding rules , the calcu- lation of minimum funding requirements differs from the calculation of the present value of plan benefits ( the projected benefit obligation ) for accounting purposes . in december 2008 , the worker , retiree and employer recovery act of 2008 ( wera ) was passed by the u.s . congress which provided for pension funding relief and technical corrections . funding contributions depend on the funding method selected by the company , and the timing of its implementation , as well as on actual demo- graphic data and the targeted funding level . the company continually reassesses the amount and timing of any discretionary contributions and elected to make voluntary contributions totaling $ 44 million and $ 300 million for the years ended december 31 , 2012 and 2011 , respectively . at this time , we expect that required contributions to its plans in 2013 will be approximately $ 31 million , although the company may elect to make future voluntary contributions . the timing and amount of future contributions , which could be material , will depend on a number of factors , including the actual earnings and changes in values of plan assets and changes in interest rates . ilim holding s.a . shareholder 2019s agreement in october 2007 , in connection with the for- mation of the ilim holding s.a . joint venture , international paper entered into a share- holder 2019s agreement that includes provisions relating to the reconciliation of disputes among the partners . this agreement provides that at .

string

lease_obligations_2013 = 198 purchase_obligations_2013 = 3213 total_obligations_2013 = lease_obligations_2013 + purchase_obligations_2013 percent_short_term_2013 = total_obligations_2013 / 3855 answer = percent_short_term_2013 * 100

what is the net change in cash in 2013?

843.9000244141

CodeFinQA

management 2019s discussion and analysis of financial condition and results of operations 2013 ( continued ) ( amounts in millions , except per share amounts ) corporate and other expenses decreased slightly during 2012 by $ 4.7 to $ 137.3 compared to 2011 , primarily due to lower office and general expenses , partially offset by an increase in temporary help to support our information-technology system-upgrade initiatives . liquidity and capital resources cash flow overview the following tables summarize key financial data relating to our liquidity , capital resources and uses of capital. . | | Years ended December 31, | | :--- | :--- | | Cash Flow Data | 2013 | 2012 | 2011 | | Net income, adjusted to reconcile net income to net cashprovided by operating activities¹ | $598.4 | $697.2 | $735.7 | | Net cash used in working capital ² | (9.6) | (293.2) | (359.4) | | Changes in other non-current assets and liabilities using cash | 4.1 | (46.8) | (102.8) | | Net cash provided by operating activities | $592.9 | $357.2 | $273.5 | | Net cash used in investing activities | (224.5) | (210.2) | (58.8) | | Net cash (used in) provided by financing activities | (1,212.3) | 131.3 | (541.0) | 1 reflects net income adjusted primarily for depreciation and amortization of fixed assets and intangible assets , amortization of restricted stock and other non-cash compensation , non-cash loss related to early extinguishment of debt , and deferred income taxes . 2 reflects changes in accounts receivable , expenditures billable to clients , other current assets , accounts payable and accrued liabilities . operating activities net cash provided by operating activities during 2013 was $ 592.9 , which was an increase of $ 235.7 as compared to 2012 , primarily as a result of an improvement in working capital usage of $ 283.6 , offset by a decrease in net income . due to the seasonality of our business , we typically generate cash from working capital in the second half of a year and use cash from working capital in the first half of a year , with the largest impacts in the first and fourth quarters . the improvement in working capital in 2013 was impacted by our media businesses and an ongoing focus on working capital management at our agencies . net cash provided by operating activities during 2012 was $ 357.2 , which was an increase of $ 83.7 as compared to 2011 , primarily as a result of a decrease in working capital usage of $ 66.2 . the net working capital usage in 2012 was primarily impacted by our media businesses . the timing of media buying on behalf of our clients affects our working capital and operating cash flow . in most of our businesses , our agencies enter into commitments to pay production and media costs on behalf of clients . to the extent possible we pay production and media charges after we have received funds from our clients . the amounts involved substantially exceed our revenues , and primarily affect the level of accounts receivable , expenditures billable to clients , accounts payable and accrued liabilities . our assets include both cash received and accounts receivable from clients for these pass-through arrangements , while our liabilities include amounts owed on behalf of clients to media and production suppliers . our accrued liabilities are also affected by the timing of certain other payments . for example , while annual cash incentive awards are accrued throughout the year , they are generally paid during the first quarter of the subsequent year . investing activities net cash used in investing activities during 2013 primarily relates to payments for capital expenditures and acquisitions . capital expenditures of $ 173.0 relate primarily to computer hardware and software and leasehold improvements . we made payments of $ 61.5 related to acquisitions completed during 2013. .

string

operating_cash_flows_2013 = 592.9 investing_cash_flows_2013 = -224.5 financing_cash_flows_2013 = -1212.3 net_cash_flows_2013 = operating_cash_flows_2013 + investing_cash_flows_2013 + financing_cash_flows_2013 answer = net_cash_flows_2013

what was the value , in millions of dollars , of net revenues in 2007?

2232

CodeFinQA

our non-operating investment activity resulted in net losses of $ 12.7 million in 2009 and $ 52.3 million in 2008 . the improvement of nearly $ 40 million is primarily attributable to a reduction in the other than temporary impairments recognized on our investments in sponsored mutual funds in 2009 versus 2008 . the following table details our related mutual fund investment gains and losses ( in millions ) during the past two years. . | | 2008 | 2009 | Change | | :--- | :--- | :--- | :--- | | Other than temporary impairments recognized | $(91.3) | $(36.1) | $55.2 | | Capital gain distributions received | 5.6 | 2.0 | (3.6) | | Net gain (loss) realized on fund dispositions | (4.5) | 7.4 | 11.9 | | Net loss recognized on fund holdings | $(90.2) | $(26.7) | $63.5 | lower income of $ 16 million from our money market holdings due to the significantly lower interest rate environment offset the improvement experienced with our fund investments . there is no impairment of any of our mutual fund investments at december 31 , 2009 . the 2009 provision for income taxes as a percentage of pretax income is 37.1% ( 37.1 % ) , down from 38.4% ( 38.4 % ) in 2008 and .9% ( .9 % ) lower than our present estimate of 38.0% ( 38.0 % ) for the 2010 effective tax rate . our 2009 provision includes reductions of prior years 2019 tax provisions and discrete nonrecurring benefits that lowered our 2009 effective tax rate by 1.0% ( 1.0 % ) . 2008 versus 2007 . investment advisory revenues decreased 6.3% ( 6.3 % ) , or $ 118 million , to $ 1.76 billion in 2008 as average assets under our management decreased $ 16 billion to $ 358.2 billion . the average annualized fee rate earned on our assets under management was 49.2 basis points in 2008 , down from the 50.2 basis points earned in 2007 , as lower equity market valuations resulted in a greater percentage of our assets under management being attributable to lower fee fixed income portfolios . continuing stress on the financial markets and resulting lower equity valuations as 2008 progressed resulted in lower average assets under our management , lower investment advisory fees and lower net income as compared to prior periods . net revenues decreased 5% ( 5 % ) , or $ 112 million , to $ 2.12 billion . operating expenses were $ 1.27 billion in 2008 , up 2.9% ( 2.9 % ) or $ 36 million from 2007 . net operating income for 2008 decreased $ 147.9 million , or 14.8% ( 14.8 % ) , to $ 848.5 million . higher operating expenses in 2008 and decreased market valuations during the latter half of 2008 , which lowered our assets under management and advisory revenues , resulted in our 2008 operating margin declining to 40.1% ( 40.1 % ) from 44.7% ( 44.7 % ) in 2007 . non-operating investment losses in 2008 were $ 52.3 million as compared to investment income of $ 80.4 million in 2007 . investment losses in 2008 include non-cash charges of $ 91.3 million for the other than temporary impairment of certain of the firm 2019s investments in sponsored mutual funds . net income in 2008 fell 27% ( 27 % ) or nearly $ 180 million from 2007 . diluted earnings per share , after the retrospective application of new accounting guidance effective in 2009 , decreased to $ 1.81 , down $ .59 or 24.6% ( 24.6 % ) from $ 2.40 in 2007 . a non-operating charge to recognize other than temporary impairments of our sponsored mutual fund investments reduced diluted earnings per share by $ .21 in 2008 . investment advisory revenues earned from the t . rowe price mutual funds distributed in the united states decreased 8.5% ( 8.5 % ) , or $ 114.5 million , to $ 1.24 billion . average mutual fund assets were $ 216.1 billion in 2008 , down $ 16.7 billion from 2007 . mutual fund assets at december 31 , 2008 , were $ 164.4 billion , down $ 81.6 billion from the end of 2007 . net inflows to the mutual funds during 2008 were $ 3.9 billion , including $ 1.9 billion to the money funds , $ 1.1 billion to the bond funds , and $ .9 billion to the stock funds . the value , equity index 500 , and emerging markets stock funds combined to add $ 4.1 billion , while the mid-cap growth and equity income stock funds had net redemptions of $ 2.2 billion . net fund inflows of $ 6.2 billion originated in our target-date retirement funds , which in turn invest in other t . rowe price funds . fund net inflow amounts in 2008 are presented net of $ 1.3 billion that was transferred to target-date trusts from the retirement funds during the year . decreases in market valuations and income not reinvested lowered our mutual fund assets under management by $ 85.5 billion during 2008 . investment advisory revenues earned on the other investment portfolios that we manage decreased $ 3.6 million to $ 522.2 million . average assets in these portfolios were $ 142.1 billion during 2008 , up slightly from $ 141.4 billion in 2007 . these minor changes , each less than 1% ( 1 % ) , are attributable to the timing of declining equity market valuations and cash flows among our separate account and subadvised portfolios . net inflows , primarily from institutional investors , were $ 13.2 billion during 2008 , including the $ 1.3 billion transferred from the retirement funds to target-date trusts . decreases in market valuations , net of income , lowered our assets under management in these portfolios by $ 55.3 billion during 2008 . management 2019s discussion & analysis 21 .

string

net_revenue_2007 = 2.12 * 1000 net_revenue_2008 = net_revenue_2007 + 112 answer = net_revenue_2008

based on the activity between the company and the 2007 financing entities what was the ratio of the cash payments to the cash receipts in 2013

2.625

CodeFinQA

( c ) the cash payments are interest payments on the associated debt obligations discussed above . after formation of the 2015 financing entities , the payments represent interest paid on nonrecourse financial liabilities of special purpose entities . in connection with the acquisition of temple-inland in february 2012 , two special purpose entities became wholly-owned subsidiaries of international paper . the use of the two wholly-owned special purpose entities discussed below preserved the tax deferral that resulted from the 2007 temple-inland timberlands sales . the company recognized an $ 840 million deferred tax liability in connection with the 2007 sales , which will be settled with the maturity of the notes in in october 2007 , temple-inland sold 1.55 million acres of timberland for $ 2.38 billion . the total consideration consisted almost entirely of notes due in 2027 issued by the buyer of the timberland , which temple-inland contributed to two wholly-owned , bankruptcy-remote special purpose entities . the notes are shown in financial assets of special purpose entities in the accompanying consolidated balance sheet and are supported by $ 2.38 billion of irrevocable letters of credit issued by three banks , which are required to maintain minimum credit ratings on their long-term debt . in the third quarter of 2012 , international paper completed its preliminary analysis of the acquisition date fair value of the notes and determined it to be $ 2.09 billion . as of december 31 , 2015 and 2014 , the fair value of the notes was $ 2.10 billion and $ 2.27 billion , respectively . these notes are classified as level 2 within the fair value hierarchy , which is further defined in note 14 . in december 2007 , temple-inland's two wholly-owned special purpose entities borrowed $ 2.14 billion shown in nonrecourse financial liabilities of special purpose entities . the loans are repayable in 2027 and are secured only by the $ 2.38 billion of notes and the irrevocable letters of credit securing the notes and are nonrecourse to us . the loan agreements provide that if a credit rating of any of the banks issuing the letters of credit is downgraded below the specified threshold , the letters of credit issued by that bank must be replaced within 30 days with letters of credit from another qualifying financial institution . in the third quarter of 2012 , international paper completed its preliminary analysis of the acquisition date fair value of the borrowings and determined it to be $ 2.03 billion . as of december 31 , 2015 and 2014 , the fair value of this debt was $ 1.97 billion and $ 2.16 billion , respectively . this debt is classified as level 2 within the fair value hierarchy , which is further defined in note 14 . activity between the company and the 2007 financing entities was as follows: . | In millions | 2015 | 2014 | 2013 | | :--- | :--- | :--- | :--- | | Revenue (a) | $27 | $26 | $27 | | Expense (b) | 27 | 25 | 29 | | Cash receipts (c) | 7 | 7 | 8 | | Cash payments (d) | 18 | 18 | 21 | ( a ) the revenue is included in interest expense , net in the accompanying consolidated statement of operations and includes approximately $ 19 million , $ 19 million and $ 19 million for the years ended december 31 , 2015 , 2014 and 2013 , respectively , of accretion income for the amortization of the purchase accounting adjustment on the financial assets of special purpose entities . ( b ) the expense is included in interest expense , net in the accompanying consolidated statement of operations and includes approximately $ 7 million , $ 7 million and $ 7 million for the years ended december 31 , 2015 , 2014 and 2013 , respectively , of accretion expense for the amortization of the purchase accounting adjustment on the nonrecourse financial liabilities of special purpose entities . ( c ) the cash receipts are interest received on the financial assets of special purpose entities . ( d ) the cash payments are interest paid on nonrecourse financial liabilities of special purpose entities . note 13 debt and lines of credit in 2015 , international paper issued $ 700 million of 3.80% ( 3.80 % ) senior unsecured notes with a maturity date in 2026 , $ 600 million of 5.00% ( 5.00 % ) senior unsecured notes with a maturity date in 2035 , and $ 700 million of 5.15% ( 5.15 % ) senior unsecured notes with a maturity date in 2046 . the proceeds from this borrowing were used to repay approximately $ 1.0 billion of notes with interest rates ranging from 4.75% ( 4.75 % ) to 9.38% ( 9.38 % ) and original maturities from 2018 to 2022 , along with $ 211 million of cash premiums associated with the debt repayments . additionally , the proceeds from this borrowing were used to make a $ 750 million voluntary cash contribution to the company's pension plan . pre-tax early debt retirement costs of $ 207 million related to the debt repayments , including the $ 211 million of cash premiums , are included in restructuring and other charges in the accompanying consolidated statement of operations for the twelve months ended december 31 , 2015 . during the second quarter of 2014 , international paper issued $ 800 million of 3.65% ( 3.65 % ) senior unsecured notes with a maturity date in 2024 and $ 800 million of 4.80% ( 4.80 % ) senior unsecured notes with a maturity date in 2044 . the proceeds from this borrowing were used to repay approximately $ 960 million of notes with interest rates ranging from 7.95% ( 7.95 % ) to 9.38% ( 9.38 % ) and original maturities from 2018 to 2019 . pre-tax early debt retirement costs of $ 262 million related to these debt repayments , including $ 258 million of cash premiums , are included in restructuring and other charges in the accompanying consolidated statement of operations for the twelve months ended december 31 , 2014. .

string

cash_receipts = 21 cash_payments = 8 ratio = cash_receipts / cash_payments answer = ratio

what percentage of total revenues net of interest expense where net interest revenues in 2009?

73

CodeFinQA

local consumer lending local consumer lending ( lcl ) , which constituted approximately 70% ( 70 % ) of citi holdings by assets as of december 31 , 2010 , includes a portion of citigroup 2019s north american mortgage business , retail partner cards , western european cards and retail banking , citifinancial north america and other local consumer finance businesses globally . the student loan corporation is reported as discontinued operations within the corporate/other segment for the second half of 2010 only . at december 31 , 2010 , lcl had $ 252 billion of assets ( $ 226 billion in north america ) . approximately $ 129 billion of assets in lcl as of december 31 , 2010 consisted of u.s . mortgages in the company 2019s citimortgage and citifinancial operations . the north american assets consist of residential mortgage loans ( first and second mortgages ) , retail partner card loans , personal loans , commercial real estate ( cre ) , and other consumer loans and assets . in millions of dollars 2010 2009 2008 % ( % ) change 2010 vs . 2009 % ( % ) change 2009 vs . 2008 . | In millions of dollars | 2010 | 2009 | 2008 | % Change 2010 vs. 2009 | % Change 2009 vs. 2008 | | :--- | :--- | :--- | :--- | :--- | :--- | | Net interest revenue | $13,831 | $12,995 | $17,136 | 6% | (24)% | | Non-interest revenue | 1,995 | 4,770 | 6,362 | (58) | (25) | | Total revenues, net of interest expense | $15,826 | $17,765 | $23,498 | (11)% | (24)% | | Total operating expenses | $8,064 | $9,799 | $14,238 | (18)% | (31)% | | Net credit losses | $17,040 | $19,185 | $13,111 | (11)% | 46% | | Credit reserve build (release) | (1,771) | 5,799 | 8,573 | NM | (32) | | Provision for benefits and claims | 775 | 1,054 | 1,192 | (26) | (12) | | Provision for unfunded lending commitments | — | — | — | — | — | | Provisions for credit losses and for benefits and claims | $16,044 | $26,038 | $22,876 | (38)% | 14% | | (Loss) from continuing operations before taxes | $(8,282) | $(18,072) | $(13,616) | 54% | (33)% | | Benefits for income taxes | (3,289) | (7,656) | (5,259) | 57 | (46) | | (Loss) from continuing operations | $(4,993) | $(10,416) | $(8,357) | 52% | (25)% | | Net income attributable to noncontrolling interests | 8 | 33 | 12 | (76) | NM | | Net (loss) | $(5,001) | $(10,449) | $(8,369) | 52% | (25)% | | Average assets(in billions of dollars) | $324 | $351 | $420 | (8)% | (16) | | Net credit losses as a percentage of average loans | 6.20% | 6.38% | 3.80% | | | nm not meaningful 2010 vs . 2009 revenues , net of interest expense decreased 11% ( 11 % ) from the prior year . net interest revenue increased 6% ( 6 % ) due to the adoption of sfas 166/167 , partially offset by the impact of lower balances due to portfolio run-off and asset sales . non-interest revenue declined 58% ( 58 % ) , primarily due to the absence of the $ 1.1 billion gain on the sale of redecard in the first quarter of 2009 and a higher mortgage repurchase reserve charge . operating expenses decreased 18% ( 18 % ) , primarily due to the impact of divestitures , lower volumes , re-engineering actions and the absence of costs associated with the u.s . government loss-sharing agreement , which was exited in the fourth quarter of 2009 . provisions for credit losses and for benefits and claims decreased 38% ( 38 % ) , reflecting a net $ 1.8 billion credit reserve release in 2010 compared to a $ 5.8 billion build in 2009 . lower net credit losses across most businesses were partially offset by the impact of the adoption of sfas 166/167 . on a comparable basis , net credit losses were lower year-over-year , driven by improvement in u.s . mortgages , international portfolios and retail partner cards . assets declined 21% ( 21 % ) from the prior year , primarily driven by portfolio run-off , higher loan loss reserve balances , and the impact of asset sales and divestitures , partially offset by an increase of $ 41 billion resulting from the adoption of sfas 166/167 . key divestitures in 2010 included the student loan corporation , primerica , auto loans , the canadian mastercard business and u.s . retail sales finance portfolios . 2009 vs . 2008 revenues , net of interest expense decreased 24% ( 24 % ) from the prior year . net interest revenue was 24% ( 24 % ) lower than the prior year , primarily due to lower balances , de-risking of the portfolio , and spread compression . non-interest revenue decreased $ 1.6 billion , mostly driven by the impact of higher credit losses flowing through the securitization trusts , partially offset by the $ 1.1 billion gain on the sale of redecard in the first quarter of 2009 . operating expenses declined 31% ( 31 % ) from the prior year , due to lower volumes and reductions from expense re-engineering actions , and the impact of goodwill write-offs of $ 3.0 billion in the fourth quarter of 2008 , partially offset by higher costs associated with delinquent loans . provisions for credit losses and for benefits and claims increased 14% ( 14 % ) from the prior year , reflecting an increase in net credit losses of $ 6.1 billion , partially offset by lower reserve builds of $ 2.8 billion . higher net credit losses were primarily driven by higher losses of $ 3.6 billion in residential real estate lending , $ 1.0 billion in retail partner cards , and $ 0.7 billion in international . assets decreased $ 57 billion from the prior year , primarily driven by lower originations , wind-down of specific businesses , asset sales , divestitures , write- offs and higher loan loss reserve balances . key divestitures in 2009 included the fi credit card business , italy consumer finance , diners europe , portugal cards , norway consumer and diners club north america. .

string

revenue_2009 = 12995 revenue_2008 = 17765 percent_revenue = revenue_2009 / revenue_2008 answer = percent_revenue * 100

in millions for 2014 and 2013 , what was total amount of net derivative liabilities under bilateral agreements?\\n

57940

CodeFinQA

notes to consolidated financial statements derivatives with credit-related contingent features certain of the firm 2019s derivatives have been transacted under bilateral agreements with counterparties who may require the firm to post collateral or terminate the transactions based on changes in the firm 2019s credit ratings . the firm assesses the impact of these bilateral agreements by determining the collateral or termination payments that would occur assuming a downgrade by all rating agencies . a downgrade by any one rating agency , depending on the agency 2019s relative ratings of the firm at the time of the downgrade , may have an impact which is comparable to the impact of a downgrade by all rating agencies . the table below presents the aggregate fair value of net derivative liabilities under such agreements ( excluding application of collateral posted to reduce these liabilities ) , the related aggregate fair value of the assets posted as collateral , and the additional collateral or termination payments that could have been called at the reporting date by counterparties in the event of a one-notch and two-notch downgrade in the firm 2019s credit ratings. . | | As of December | | :--- | :--- | | <i>$ in millions</i> | 2014 | 2013 | | Net derivative liabilities under bilateral agreements | $35,764 | $22,176 | | Collateral posted | 30,824 | 18,178 | | Additional collateral or termination payments for a one-notch downgrade | 1,072 | 911 | | Additional collateral or termination payments for a two-notch downgrade | 2,815 | 2,989 | additional collateral or termination payments for a one-notch downgrade 1072 911 additional collateral or termination payments for a two-notch downgrade 2815 2989 credit derivatives the firm enters into a broad array of credit derivatives in locations around the world to facilitate client transactions and to manage the credit risk associated with market- making and investing and lending activities . credit derivatives are actively managed based on the firm 2019s net risk position . credit derivatives are individually negotiated contracts and can have various settlement and payment conventions . credit events include failure to pay , bankruptcy , acceleration of indebtedness , restructuring , repudiation and dissolution of the reference entity . credit default swaps . single-name credit default swaps protect the buyer against the loss of principal on one or more bonds , loans or mortgages ( reference obligations ) in the event the issuer ( reference entity ) of the reference obligations suffers a credit event . the buyer of protection pays an initial or periodic premium to the seller and receives protection for the period of the contract . if there is no credit event , as defined in the contract , the seller of protection makes no payments to the buyer of protection . however , if a credit event occurs , the seller of protection is required to make a payment to the buyer of protection , which is calculated in accordance with the terms of the contract . credit indices , baskets and tranches . credit derivatives may reference a basket of single-name credit default swaps or a broad-based index . if a credit event occurs in one of the underlying reference obligations , the protection seller pays the protection buyer . the payment is typically a pro-rata portion of the transaction 2019s total notional amount based on the underlying defaulted reference obligation . in certain transactions , the credit risk of a basket or index is separated into various portions ( tranches ) , each having different levels of subordination . the most junior tranches cover initial defaults and once losses exceed the notional amount of these junior tranches , any excess loss is covered by the next most senior tranche in the capital structure . total return swaps . a total return swap transfers the risks relating to economic performance of a reference obligation from the protection buyer to the protection seller . typically , the protection buyer receives from the protection seller a floating rate of interest and protection against any reduction in fair value of the reference obligation , and in return the protection seller receives the cash flows associated with the reference obligation , plus any increase in the fair value of the reference obligation . 132 goldman sachs 2014 annual report .

string

table_row = [35764, 22176] # row labeled net derivative liabilities under bilateral agreements a = sum(table_row)

how much of the purchase price was allocated to intangibles?

5735201

CodeFinQA

dollar general corporation and subsidiaries notes to consolidated financial statements ( continued ) 3 . merger ( continued ) merger as a subsidiary of buck . the company 2019s results of operations after july 6 , 2007 include the effects of the merger . the aggregate purchase price was approximately $ 7.1 billion , including direct costs of the merger , and was funded primarily through debt financings as described more fully below in note 7 and cash equity contributions from kkr , gs capital partners vi fund , l.p . and affiliated funds ( affiliates of goldman , sachs & co. ) , and other equity co-investors ( collectively , the 2018 2018investors 2019 2019 of approximately $ 2.8 billion ( 316.2 million shares of new common stock , $ 0.875 par value per share , valued at $ 8.75 per share ) . also in connection with the merger , certain of the company 2019s management employees invested in and were issued new shares , representing less than 1% ( 1 % ) of the outstanding shares , in the company . pursuant to the terms of the merger agreement , the former holders of the predecessor 2019s common stock , par value $ 0.50 per share , received $ 22.00 per share , or approximately $ 6.9 billion , and all such shares were acquired as a result of the merger . as discussed in note 1 , the merger was accounted for as a reverse acquisition in accordance with applicable purchase accounting provisions . because of this accounting treatment , the company 2019s assets and liabilities have properly been accounted for at their estimated fair values as of the merger date . the aggregate purchase price has been allocated to the tangible and intangible assets acquired and liabilities assumed based upon an assessment of their relative fair values as of the merger date . the allocation of the purchase price is as follows ( in thousands ) : . | Cash and cash equivalents | $349,615 | | :--- | :--- | | Short-term investments | 30,906 | | Merchandise inventories | 1,368,130 | | Income taxes receivable | 40,199 | | Deferred income taxes | 57,176 | | Prepaid expenses and other current assets | 63,204 | | Property and equipment, net | 1,301,119 | | Goodwill | 4,338,589 | | Intangible assets | 1,396,612 | | Other assets, net | 66,537 | | Current portion of long-term obligations | (7,088) | | Accounts payable | (585,518) | | Accrued expenses and other | (306,394) | | Income taxes payable | (84) | | Long-term obligations | (267,927) | | Deferred income taxes | (540,675) | | Other liabilities | (208,710) | | Total purchase price assigned | $7,095,691 | the purchase price allocation included approximately $ 4.34 billion of goodwill , none of which is expected to be deductible for tax purposes . the goodwill balance at january 30 , 2009 decreased $ 6.3 million from the balance at february 1 , 2008 due to an adjustment to income tax contingencies as further discussed in note 6. .

string

intangible_assets = 4338589 + 1396612 answer = intangible_assets

fuel surcharge programs represented what share of revenue in 2011?

11.1999998093

CodeFinQA

f0b7 positive train control 2013 in response to a legislative mandate to implement ptc by the end of 2015 , we expect to spend approximately $ 335 million during 2012 on developing and deploying ptc . we currently estimate that ptc in accordance with implementing rules issued by the federal rail administration ( fra ) will cost us approximately $ 2 billion by the end of 2015 . this includes costs for installing the new system along our tracks , upgrading locomotives to work with the new system , and adding digital data communication equipment so all the parts of the system can communicate with each other . during 2012 , we plan to continue testing the technology to evaluate its effectiveness . f0b7 financial expectations 2013 we are cautious about the economic environment but anticipate slow but steady volume growth that will exceed 2011 levels . coupled with price , on-going network improvements and operational productivity initiatives , we expect earnings that exceed 2011 earnings . results of operations operating revenues millions 2011 2010 2009 % ( % ) change 2011 v 2010 % ( % ) change 2010 v 2009 . | <i>Millions</i> | <i>2011</i> | <i>2010</i> | <i>2009</i> | <i>% Change 2011 v 2010</i> | <i>% Change 2010 v 2009</i> | | :--- | :--- | :--- | :--- | :--- | :--- | | Freight revenues | $18,508 | $16,069 | $13,373 | 15% | 20% | | Other revenues | 1,049 | 896 | 770 | 17 | 16 | | Total | $19,557 | $16,965 | $14,143 | 15% | 20% | we generate freight revenues by transporting freight or other materials from our six commodity groups . freight revenues vary with volume ( carloads ) and average revenue per car ( arc ) . changes in price , traffic mix and fuel surcharges drive arc . we provide some of our customers with contractual incentives for meeting or exceeding specified cumulative volumes or shipping to and from specific locations , which we record as reductions to freight revenues based on the actual or projected future shipments . we recognize freight revenues as shipments move from origin to destination . we allocate freight revenues between reporting periods based on the relative transit time in each reporting period and recognize expenses as we incur them . other revenues include revenues earned by our subsidiaries , revenues from our commuter rail operations , and accessorial revenues , which we earn when customers retain equipment owned or controlled by us or when we perform additional services such as switching or storage . we recognize other revenues as we perform services or meet contractual obligations . freight revenues for all six commodity groups increased during 2011 compared to 2010 , while volume increased in all except intermodal . increased demand in many market sectors , with particularly strong growth in chemical , industrial products , and automotive shipments for the year , generated the increases . arc increased 12% ( 12 % ) , driven by higher fuel cost recoveries and core pricing gains . fuel cost recoveries include fuel surcharge revenue and the impact of resetting the base fuel price for certain traffic , which is described below in more detail . higher fuel prices , volume growth , and new fuel surcharge provisions in renegotiated contracts all combined to increase revenues from fuel surcharges . freight revenues and volume levels for all six commodity groups increased during 2010 as a result of economic improvement in many market sectors . we experienced particularly strong volume growth in automotive , intermodal , and industrial products shipments . core pricing gains and higher fuel surcharges also increased freight revenues and drove a 6% ( 6 % ) improvement in arc . our fuel surcharge programs ( excluding index-based contract escalators that contain some provision for fuel ) generated freight revenues of $ 2.2 billion , $ 1.2 billion , and $ 605 million in 2011 , 2010 , and 2009 , respectively . higher fuel prices , volume growth , and new fuel surcharge provisions in contracts renegotiated during the year increased fuel surcharge amounts in 2011 and 2010 . furthermore , for certain periods during 2009 , fuel prices dropped below the base at which our mileage-based fuel surcharge begins , which resulted in no fuel surcharge recovery for associated shipments during those periods . additionally , fuel surcharge revenue is not entirely comparable to prior periods as we continue to convert portions of our non-regulated traffic to mileage-based fuel surcharge programs . in 2011 , other revenues increased from 2010 due primarily to higher revenues at our subsidiaries that broker intermodal and automotive services. .

string

revenue = 19557 revenue_per_thousand = revenue / 1000 fuel_surcharge_revenue = 2.2 fuel_surcharge_revenue_per_thousand = fuel_surcharge_revenue / revenue_per_thousand answer = fuel_surcharge_revenue_per_thousand * 100

what is the percent change in basic net income available for common shares from 2001 to 2002?

42.5999984741

CodeFinQA

d u k e r e a l t y c o r p o r a t i o n 2 8 2 0 0 2 a n n u a l r e p o r t notes to consolidated financial statements the company recognizes income on long-term construction contracts where the company serves as a general contractor on the percentage of completion method . using this method , profits are recorded on the basis of the company 2019s estimates of the percentage of completion of individual contracts , commencing when progress reaches a point where experience is sufficient to estimate final results with reasonable accuracy . that portion of the estimated earnings is accrued on the basis of the company 2019s estimates of the percentage of completion based on contract expenditures incurred and work performed . property sales gains from sales of depreciated property are recognized in accordance with statement of financial accounting standards ( 201csfas 201d ) no . 66 , and are included in earnings from sales of land and depreciable property dispositions , net of impairment adjustment , in the statement of operations if identified as held for sale prior to adoption of sfas 144 and in discontinued operations if identified as held for sale after adoption of sfas 144 . gains or losses from the sale of property which is considered held for sale in dclp are recognized in accordance with sfas 66 and are included in construction management and development activity income in the statement of operations . net income per common share basic net income per common share is computed by dividing net income available for common shares by the weighted average number of common shares outstanding for the period . diluted net income per share is computed by dividing the sum of net income available for common shares and minority interest in earnings of unitholders , by the sum of the weighted average number of common shares and units outstanding and dilutive potential common shares for the period . the following table reconciles the components of basic and diluted net income per share ( in thousands ) : the series d convertible preferred stock and the series g convertible preferred limited partner units were anti-dilutive for the years ended december 31 , 2002 , 2001 and 2000 ; therefore , no conversion to common shares is included in weighted dilutive potential common shares . in september 2002 , the company redeemed the series g convertible preferred units at their par value of $ 35.0 million . a joint venture partner in one of the company 2019s unconsolidated companies has the option to convert a portion of its ownership to company common shares ( see discussion in investments in unconsolidated companies section ) . the effect of the option on earnings per share was dilutive for the year ended december 31 , 2001 ; therefore , conversion to common shares is included in weighted dilutive potential common shares . federal income taxes the company has elected to be taxed as a real estate investment trust ( 201creit 201d ) under the internal revenue code . to qualify as a reit , the company must meet a number of organizational and operational requirements , including a requirement that it currently distribute at least 90% ( 90 % ) of its taxable income to its stockholders . management intends to continue to adhere to these requirements and to maintain the company 2019s reit status . as a reit , the company is entitled to a tax deduction for some or all of the dividends it pays to its shareholders . accordingly , the company generally will not be subject to federal income taxes as long as it distributes an amount equal to or in excess of its taxable income currently to its stockholders . a reit generally is subject to federal income taxes on any taxable income that is not currently distributed to its shareholders . if the company fails to qualify as a reit in any taxable year , it will be subject to federal income taxes and may not be able to qualify as a reit for four subsequent taxable years . reit qualification reduces , but does not eliminate , the amount of state and local taxes paid by the company . in addition , the company 2019s financial statements include the operations of taxable corporate subsidiaries that are not entitled to a dividends paid deduction and are subject to corporate federal , state and local income taxes . as a reit , the company may also be subject to certain federal excise taxes if it engages in certain types of transactions. . | | 2002 | 2001 | 2000 | | :--- | :--- | :--- | :--- | | Basic net income available for common shares | $161,272 | $229,967 | $212,958 | | Joint venture partner convertible ownership net income | — | 3,423 | — | | Minority interest in earnings of common unitholders | 18,568 | 32,463 | 32,071 | | Diluted net income available for common shares and dilutive potential common shares | $179,840 | $265,853 | $245,029 | | Weighted average number of common shares outstanding | 133,981 | 129,660 | 126,836 | | Weighted average partnership units outstanding | 15,442 | 18,301 | 19,070 | | Joint venture partner convertible ownership common share equivalents | — | 2,092 | — | | Dilutive shares for stock-based compensation plans | 1,416 | 1,657 | 1,535 | | Weighted average number of common shares and dilutive potential common shares | 150,839 | 151,710 | 147,441 | .

string

basic_net_income_2002 = 229967 basic_net_income_2001 = 161272 answer = (basic_net_income_2002 - basic_net_income_2001) / basic_net_income_2001 * 100

what percentage of total debt is from long-term debt , from 2013-2014?

81.0899963379

CodeFinQA

management 2019s discussion and analysis of financial condition and results of operations 2013 ( continued ) ( amounts in millions , except per share amounts ) net cash used in investing activities during 2013 primarily related to payments for capital expenditures and acquisitions . capital expenditures of $ 173.0 related primarily to computer hardware and software and leasehold improvements . we made payments of $ 61.5 related to acquisitions completed during 2013 , net of cash acquired . financing activities net cash used in financing activities during 2014 primarily related to the purchase of long-term debt , the repurchase of our common stock and payment of dividends . during 2014 , we redeemed all $ 350.0 in aggregate principal amount of the 6.25% ( 6.25 % ) notes , repurchased 14.9 shares of our common stock for an aggregate cost of $ 275.1 , including fees , and made dividend payments of $ 159.0 on our common stock . this was offset by the issuance of $ 500.0 in aggregate principal amount of our 4.20% ( 4.20 % ) notes . net cash used in financing activities during 2013 primarily related to the purchase of long-term debt , the repurchase of our common stock and payment of dividends . we redeemed all $ 600.0 in aggregate principal amount of our 10.00% ( 10.00 % ) notes . in addition , we repurchased 31.8 shares of our common stock for an aggregate cost of $ 481.8 , including fees , and made dividend payments of $ 126.0 on our common stock . foreign exchange rate changes the effect of foreign exchange rate changes on cash and cash equivalents included in the consolidated statements of cash flows resulted in a decrease of $ 101.0 in 2014 . the decrease was primarily a result of the u.s . dollar being stronger than several foreign currencies , including the canadian dollar , brazilian real , australian dollar and the euro as of december 31 , 2014 compared to december 31 , 2013 . the effect of foreign exchange rate changes on cash and cash equivalents included in the consolidated statements of cash flows resulted in a decrease of $ 94.1 in 2013 . the decrease was primarily a result of the u.s . dollar being stronger than several foreign currencies , including the australian dollar , brazilian real , canadian dollar , japanese yen , and south african rand as of december 31 , 2013 compared to december 31 , 2012. . | | December 31, | | :--- | :--- | | Balance Sheet Data | 2014 | 2013 | | Cash, cash equivalents and marketable securities | $1,667.2 | $1,642.1 | | Short-term borrowings | $107.2 | $179.1 | | Current portion of long-term debt | 2.1 | 353.6 | | Long-term debt | 1,623.5 | 1,129.8 | | Total debt | $1,732.8 | $1,662.5 | liquidity outlook we expect our cash flow from operations , cash and cash equivalents to be sufficient to meet our anticipated operating requirements at a minimum for the next twelve months . we also have a committed corporate credit facility as well as uncommitted facilities available to support our operating needs . we continue to maintain a disciplined approach to managing liquidity , with flexibility over significant uses of cash , including our capital expenditures , cash used for new acquisitions , our common stock repurchase program and our common stock dividends . from time to time , we evaluate market conditions and financing alternatives for opportunities to raise additional funds or otherwise improve our liquidity profile , enhance our financial flexibility and manage market risk . our ability to access the capital markets depends on a number of factors , which include those specific to us , such as our credit rating , and those related to the financial markets , such as the amount or terms of available credit . there can be no guarantee that we would be able to access new sources of liquidity on commercially reasonable terms , or at all. .

string

long_term_debt_percentage = (1623.5 + 1129.8) / (1732.8 + 1662.5) long_term_debt_percentage = long_term_debt_percentage * 100 answer = long_term_debt_percentage

what was the percentage decrease of state and local income taxes after federal income tax effects from 2002 to 2003?

43.5999984741

CodeFinQA

expenditures and acquisitions of leased properties are funded by the original contributor of the assets , but no change in ownership interest may result from these contributions . an excess of ashland funded improvements over marathon funded improvements results in a net gain and an excess of marathon funded improvements over ashland funded improvements results in a net loss . cost of revenues increased by $ 8.718 billion in 2003 from 2002 and $ 367 million in 2002 from 2001 . the increases in the oerb segment were primarily a result of higher natural gas and liquid hydrocarbon costs . the increases in the rm&t segment primarily reflected higher acquisition costs for crude oil , refined products , refinery charge and blend feedstocks and increased manufacturing expenses . selling , general and administrative expenses increased by $ 107 million in 2003 from 2002 and $ 125 million in 2002 from 2001 . the increase in 2003 was primarily a result of increased employee benefits ( caused by increased pension expense resulting from changes in actuarial assumptions and a decrease in realized returns on plan assets ) and other employee related costs . also , marathon changed assumptions in the health care cost trend rate from 7.5% ( 7.5 % ) to 10% ( 10 % ) , resulting in higher retiree health care costs . additionally , during 2003 , marathon recorded a charge of $ 24 million related to organizational and business process changes . the increase in 2002 primarily reflected increased employee related costs . inventory market valuation reserve is established to reduce the cost basis of inventories to current market value . the 2002 results of operations include credits to income from operations of $ 71 million , reversing the imv reserve at december 31 , 2001 . for additional information on this adjustment , see 201cmanagement 2019s discussion and analysis of critical accounting estimates 2013 net realizable value of inventories 201d on page 31 . net interest and other financial costs decreased by $ 82 million in 2003 from 2002 , following an increase of $ 96 million in 2002 from 2001 . the decrease in 2003 is primarily due to an increase in capitalized interest related to increased long-term construction projects , the favorable effect of interest rate swaps , the favorable effect of interest on tax deficiencies and increased interest income on investments . the increase in 2002 was primarily due to higher average debt levels resulting from acquisitions and the separation . additionally , included in net interest and other financing costs are foreign currency gains of $ 13 million and $ 8 million for 2003 and 2002 and losses of $ 5 million for 2001 . loss from early extinguishment of debt in 2002 was attributable to the retirement of $ 337 million aggregate principal amount of debt , resulting in a loss of $ 53 million . as a result of the adoption of statement of financial accounting standards no . 145 201crescission of fasb statements no . 4 , 44 , and 64 , amendment of fasb statement no . 13 , and technical corrections 201d ( 201csfas no . 145 201d ) , the loss from early extinguishment of debt that was previously reported as an extraordinary item ( net of taxes of $ 20 million ) has been reclassified into income before income taxes . the adoption of sfas no . 145 had no impact on net income for 2002 . minority interest in income of map , which represents ashland 2019s 38 percent ownership interest , increased by $ 129 million in 2003 from 2002 , following a decrease of $ 531 million in 2002 from 2001 . map income was higher in 2003 compared to 2002 as discussed below in the rm&t segment . map income was significantly lower in 2002 compared to 2001 as discussed below in the rm&t segment . provision for income taxes increased by $ 215 million in 2003 from 2002 , following a decrease of $ 458 million in 2002 from 2001 , primarily due to $ 720 million increase and $ 1.356 billion decrease in income before income taxes . the effective tax rate for 2003 was 36.6% ( 36.6 % ) compared to 42.1% ( 42.1 % ) and 37.1% ( 37.1 % ) for 2002 and 2001 . the higher rate in 2002 was due to the united kingdom enactment of a supplementary 10 percent tax on profits from the north sea oil and gas production , retroactively effective to april 17 , 2002 . in 2002 , marathon recognized a one-time noncash deferred tax adjustment of $ 61 million as a result of the rate increase . the following is an analysis of the effective tax rate for the periods presented: . | | 2003 | 2002 | 2001 | | :--- | :--- | :--- | :--- | | Statutory tax rate | 35.0% | 35.0% | 35.0% | | Effects of foreign operations^(a) | (0.4) | 5.6 | (0.7) | | State and local income taxes after federal income tax effects | 2.2 | 3.9 | 3.0 | | Other federal tax effects | (0.2) | (2.4) | (0.2) | | Effective tax rate | 36.6% | 42.1% | 37.1% | ( a ) the deferred tax effect related to the enactment of a supplemental tax in the u.k . increased the effective tax rate 7.0 percent in 2002. .

string

state_and_local_income_taxes = 2.2 state_and_local_income_taxes_2002 = 3.9 decrease = state_and_local_income_taxes - state_and_local_income_taxes_2002 percent_decrease = decrease / state_and_local_income_taxes_2002 answer = percent_decrease * 100

what was the gross revenues in 2016 based on the percent of the selling general and administrative expenses

5377.6499023438

CodeFinQA

2015 compared to 2014 when compared to 2014 , costs of revenue in 2015 increased $ 41 million . this increase included a constant currency increase in expenses of approximately $ 238 million , or 8.9% ( 8.9 % ) , partially offset by a positive impact of approximately $ 197 million from the effects of foreign currency fluctuations . the constant currency growth was comprised of a $ 71 million increase in commercial solutions , which included the impact from the encore acquisition which closed in july 2014 , a $ 146 million increase in research & development solutions , which included the incremental impact from the businesses that quest contributed to q2 solutions , and a $ 21 million increase in integrated engagement services . the decrease in costs of revenue as a percent of revenues for 2015 was primarily as a result of an improvement in constant currency profit margin in the commercial solutions , research & development solutions and integrated engagement services segments ( as more fully described in the segment discussion later in this section ) . for 2015 , this constant currency profit margin expansion was partially offset by the effect from a higher proportion of consolidated revenues being contributed by our lower margin integrated engagement services segment when compared to 2014 as well as a negative impact from foreign currency fluctuations . selling , general and administrative expenses , exclusive of depreciation and amortization . | | Year Ended December 31, | | :--- | :--- | | (dollars in millions) | 2016 | 2015 | 2014 | | Selling, general and administrative expenses | $1,011 | $815 | $781 | | % of revenues | 18.8% | 18.8% | 18.8% | 2016 compared to 2015 the $ 196 million increase in selling , general and administrative expenses in 2016 included a constant currency increase of $ 215 million , or 26.4% ( 26.4 % ) , partially offset by a positive impact of approximately $ 19 million from the effects of foreign currency fluctuations . the constant currency growth was comprised of a $ 151 million increase in commercial solutions , which includes $ 158 million from the merger with ims health , partially offset by a decline in the legacy service offerings , a $ 32 million increase in research & development solutions , which includes the incremental impact from the businesses that quest contributed to q2 solutions , a $ 3 million increase in integrated engagement services , and a $ 29 million increase in general corporate and unallocated expenses , which includes $ 37 million from the merger with ims health . the constant currency increase in general corporate and unallocated expenses in 2016 was primarily due to higher stock-based compensation expense . 2015 compared to 2014 the $ 34 million increase in selling , general and administrative expenses in 2015 included a constant currency increase of $ 74 million , or 9.5% ( 9.5 % ) , partially offset by a positive impact of approximately $ 42 million from the effects of foreign currency fluctuations . the constant currency growth was comprised of a $ 14 million increase in commercial solutions , which included the impact from the encore acquisition which closed in july 2014 , a $ 40 million increase in research & development solutions , which included the incremental impact from the businesses that quest contributed to q2 solutions , a $ 4 million increase in integrated engagement services , and a $ 14 million increase in general corporate and unallocated expenses . the constant currency increase in general corporate and unallocated expenses in 2015 was primarily due to higher stock-based compensation expense and costs associated with the q2 solutions transaction. .

string

selling_general_administrative_expenses = 1011 revenues = 0.188 percent_change = selling_general_administrative_expenses / revenues answer = percent_change

by how much did total other income and expense decrease from 2009 to 2010?

52.5

CodeFinQA

table of contents research and development expense ( 201cr&d 201d ) r&d expense increased 34% ( 34 % ) or $ 449 million to $ 1.8 billion in 2010 compared to 2009 . this increase was due primarily to an increase in headcount and related expenses in the current year to support expanded r&d activities . also contributing to this increase in r&d expense in 2010 was the capitalization in 2009 of software development costs of $ 71 million related to mac os x snow leopard . although total r&d expense increased 34% ( 34 % ) during 2010 , it declined as a percentage of net sales given the 52% ( 52 % ) year-over-year increase in net sales in 2010 . the company continues to believe that focused investments in r&d are critical to its future growth and competitive position in the marketplace and are directly related to timely development of new and enhanced products that are central to the company 2019s core business strategy . as such , the company expects to make further investments in r&d to remain competitive . r&d expense increased 20% ( 20 % ) or $ 224 million to $ 1.3 billion in 2009 compared to 2008 . this increase was due primarily to an increase in headcount in 2009 to support expanded r&d activities and higher stock-based compensation expenses . additionally , $ 71 million of software development costs were capitalized related to mac os x snow leopard and excluded from r&d expense during 2009 , compared to $ 11 million of software development costs capitalized during 2008 . although total r&d expense increased 20% ( 20 % ) during 2009 , it remained relatively flat as a percentage of net sales given the 14% ( 14 % ) increase in revenue in 2009 . selling , general and administrative expense ( 201csg&a 201d ) sg&a expense increased $ 1.4 billion or 33% ( 33 % ) to $ 5.5 billion in 2010 compared to 2009 . this increase was due primarily to the company 2019s continued expansion of its retail segment , higher spending on marketing and advertising programs , increased stock-based compensation expenses and variable costs associated with the overall growth of the company 2019s net sales . sg&a expenses increased $ 388 million or 10% ( 10 % ) to $ 4.1 billion in 2009 compared to 2008 . this increase was due primarily to the company 2019s continued expansion of its retail segment in both domestic and international markets , higher stock-based compensation expense and higher spending on marketing and advertising . other income and expense other income and expense for the three years ended september 25 , 2010 , are as follows ( in millions ) : total other income and expense decreased $ 171 million or 52% ( 52 % ) to $ 155 million during 2010 compared to $ 326 million and $ 620 million in 2009 and 2008 , respectively . the overall decrease in other income and expense is attributable to the significant declines in interest rates on a year- over-year basis , partially offset by the company 2019s higher cash , cash equivalents and marketable securities balances . the weighted average interest rate earned by the company on its cash , cash equivalents and marketable securities was 0.75% ( 0.75 % ) , 1.43% ( 1.43 % ) and 3.44% ( 3.44 % ) during 2010 , 2009 and 2008 , respectively . additionally the company incurred higher premium expenses on its foreign exchange option contracts , which further reduced the total other income and expense . during 2010 , 2009 and 2008 , the company had no debt outstanding and accordingly did not incur any related interest expense . provision for income taxes the company 2019s effective tax rates were 24% ( 24 % ) , 32% ( 32 % ) and 32% ( 32 % ) for 2010 , 2009 and 2008 , respectively . the company 2019s effective rates for these periods differ from the statutory federal income tax rate of 35% ( 35 % ) due . | | 2010 | 2009 | 2008 | | :--- | :--- | :--- | :--- | | Interest income | $311 | $407 | $653 | | Other income (expense), net | (156) | (81) | (33) | | Total other income and expense | $155 | $326 | $620 | .

string

total_other_income_expense_change = 326 - 155 percent_change = total_other_income_expense_change / 326 answer = percent_change * 100

in 2012 what was the ratio of the mortgage loans ( average ) to mortgage loans ( period-end ) \\n

1.4600000381

CodeFinQA

jpmorgan chase & co./2012 annual report 103 2011 compared with 2010 net income was $ 822 million , compared with $ 1.3 billion in the prior year . private equity reported net income of $ 391 million , compared with $ 588 million in the prior year . net revenue was $ 836 million , a decrease of $ 403 million , primarily related to net write-downs on private investments and the absence of prior year gains on sales . noninterest expense was $ 238 million , a decrease of $ 85 million from the prior treasury and cio reported net income of $ 1.3 billion , compared with net income of $ 3.6 billion in the prior year . net revenue was $ 3.2 billion , including $ 1.4 billion of security gains . net interest income in 2011 was lower compared with 2010 , primarily driven by repositioning of the investment securities portfolio and lower funding benefits from financing the portfolio . other corporate reported a net loss of $ 918 million , compared with a net loss of $ 2.9 billion in the prior year . net revenue was $ 103 million , compared with a net loss of $ 467 million in the prior year . noninterest expense was $ 2.9 billion which included $ 3.2 billion of additional litigation reserves , predominantly for mortgage-related matters . noninterest expense in the prior year was $ 5.5 billion which included $ 5.7 billion of additional litigation reserves . treasury and cio overview treasury and cio are predominantly responsible for measuring , monitoring , reporting and managing the firm 2019s liquidity , funding , capital and structural interest rate and foreign exchange risks . the risks managed by treasury and cio arise from the activities undertaken by the firm 2019s four major reportable business segments to serve their respective client bases , which generate both on- and off- balance sheet assets and liabilities . treasury is responsible for , among other functions , funds transfer pricing . funds transfer pricing is used to transfer structural interest rate risk and foreign exchange risk of the firm to treasury and cio and allocate interest income and expense to each business based on market rates . cio , through its management of the investment portfolio , generates net interest income to pay the lines of business market rates . any variance ( whether positive or negative ) between amounts generated by cio through its investment portfolio activities and amounts paid to or received by the lines of business are retained by cio , and are not reflected in line of business segment results . treasury and cio activities operate in support of the overall firm . cio achieves the firm 2019s asset-liability management objectives generally by investing in high-quality securities that are managed for the longer-term as part of the firm 2019s afs investment portfolio . unrealized gains and losses on securities held in the afs portfolio are recorded in other comprehensive income . for further information about securities in the afs portfolio , see note 3 and note 12 on pages 196 2013214 and 244 2013248 , respectively , of this annual report . cio also uses securities that are not classified within the afs portfolio , as well as derivatives , to meet the firm 2019s asset-liability management objectives . securities not classified within the afs portfolio are recorded in trading assets and liabilities ; realized and unrealized gains and losses on such securities are recorded in the principal transactions revenue line in the consolidated statements of income . for further information about securities included in trading assets and liabilities , see note 3 on pages 196 2013214 of this annual report . derivatives used by cio are also classified as trading assets and liabilities . for further information on derivatives , including the classification of realized and unrealized gains and losses , see note 6 on pages 218 2013227 of this annual report . cio 2019s afs portfolio consists of u.s . and non-u.s . government securities , agency and non-agency mortgage-backed securities , other asset-backed securities and corporate and municipal debt securities . treasury 2019s afs portfolio consists of u.s . and non-u.s . government securities and corporate debt securities . at december 31 , 2012 , the total treasury and cio afs portfolios were $ 344.1 billion and $ 21.3 billion , respectively ; the average credit rating of the securities comprising the treasury and cio afs portfolios was aa+ ( based upon external ratings where available and where not available , based primarily upon internal ratings that correspond to ratings as defined by s&p and moody 2019s ) . see note 12 on pages 244 2013248 of this annual report for further information on the details of the firm 2019s afs portfolio . for further information on liquidity and funding risk , see liquidity risk management on pages 127 2013133 of this annual report . for information on interest rate , foreign exchange and other risks , and cio var and the firm 2019s nontrading interest rate-sensitive revenue at risk , see market risk management on pages 163 2013169 of this annual report . selected income statement and balance sheet data as of or for the year ended december 31 , ( in millions ) 2012 2011 2010 securities gains ( a ) $ 2028 $ 1385 $ 2897 investment securities portfolio ( average ) 358029 330885 323673 investment securities portfolio ( period 2013end ) 365421 355605 310801 . | As of or for the year ended December 31, (in millions) | 2012 | 2011 | 2010 | | :--- | :--- | :--- | :--- | | Securities gains^(a) | $2,028 | $1,385 | $2,897 | | Investment securities portfolio (average) | 358,029 | 330,885 | 323,673 | | Investment securities portfolio (period–end) | 365,421 | 355,605 | 310,801 | | Mortgage loans (average) | 10,241 | 13,006 | 9,004 | | Mortgage loans (period-end) | 7,037 | 13,375 | 10,739 | ( a ) reflects repositioning of the investment securities portfolio. .

string

mortgage_loan_ratio = 10241 / 7037 answer = mortgage_loan_ratio

for the loews santa monica beach hotel , what is the final year of the management contract including renewals?

2023

CodeFinQA

item 1 . business loews hotels holding corporation the subsidiaries of loews hotels holding corporation ( 201cloews hotels 201d ) , our wholly owned subsidiary , presently operate the following 18 hotels . loews hotels accounted for 2.0% ( 2.0 % ) , 2.9% ( 2.9 % ) and 2.7% ( 2.7 % ) of our consolidated total revenue for the years ended december 31 , 2009 , 2008 and 2007 . number of name and location rooms owned , leased or managed loews annapolis hotel 220 owned annapolis , maryland loews coronado bay 440 land lease expiring 2034 san diego , california loews denver hotel 185 owned denver , colorado the don cesar , a loews hotel 347 management contract ( a ) ( b ) st . pete beach , florida hard rock hotel , 650 management contract ( c ) at universal orlando orlando , florida loews lake las vegas 493 management contract ( a ) henderson , nevada loews le concorde hotel 405 land lease expiring 2069 quebec city , canada the madison , a loews hotel 353 management contract expiring 2021 ( a ) washington , d.c . loews miami beach hotel 790 owned miami beach , florida loews new orleans hotel 285 management contract expiring 2018 ( a ) new orleans , louisiana loews philadelphia hotel 585 owned philadelphia , pennsylvania loews portofino bay hotel , 750 management contract ( c ) at universal orlando orlando , florida loews regency hotel 350 land lease expiring 2013 , with renewal option new york , new york for 47 years loews royal pacific resort 1000 management contract ( c ) at universal orlando orlando , florida loews santa monica beach hotel 340 management contract expiring 2018 , with santa monica , california renewal option for 5 years ( a ) loews vanderbilt hotel 340 owned nashville , tennessee loews ventana canyon 400 management contract expiring 2019 ( a ) tucson , arizona loews hotel vogue 140 owned montreal , canada ( a ) these management contracts are subject to termination rights . ( b ) a loews hotels subsidiary is a 20% ( 20 % ) owner of the hotel , which is being operated by loews hotels pursuant to a management contract . ( c ) a loews hotels subsidiary is a 50% ( 50 % ) owner of these hotels located at the universal orlando theme park , through a joint venture with universal studios and the rank group . the hotels are on land leased by the joint venture and are operated by loews hotels pursuant to a management contract. . | Name and Location | Number of Rooms | Owned, Leased or Managed | | :--- | :--- | :--- | | Loews Annapolis Hotel Annapolis, Maryland | 220 | Owned | | Loews Coronado Bay San Diego, California | 440 | Land lease expiring 2034 | | Loews Denver Hotel Denver, Colorado | 185 | Owned | | The Don CeSar, a Loews Hotel St. Pete Beach, Florida | 347 | Management contract (a)(b) | | Hard Rock Hotel, at Universal Orlando Orlando, Florida | 650 | Management contract (c) | | Loews Lake Las Vegas Henderson, Nevada | 493 | Management contract (a) | | Loews Le Concorde Hotel Quebec City, Canada | 405 | Land lease expiring 2069 | | The Madison, a Loews Hotel Washington, D.C. | 353 | Management contract expiring 2021 (a) | | Loews Miami Beach Hotel Miami Beach, Florida | 790 | Owned | | Loews New Orleans Hotel New Orleans, Louisiana | 285 | Management contract expiring 2018 (a) | | Loews Philadelphia Hotel Philadelphia, Pennsylvania | 585 | Owned | | Loews Portofino Bay Hotel, at Universal Orlando Orlando, Florida | 750 | Management contract (c) | | Loews Regency Hotel New York, New York | 350 | Land lease expiring 2013, with renewal option for 47 years | | Loews Royal Pacific Resort at Universal Orlando Orlando, Florida | 1,000 | Management contract (c) | | Loews Santa Monica Beach Hotel Santa Monica, California | 340 | Management contract expiring 2018, with renewal option for5 years (a) | | Loews Vanderbilt Hotel Nashville, Tennessee | 340 | Owned | | Loews Ventana Canyon Tucson, Arizona | 400 | Management contract expiring 2019 (a) | | Loews Hotel Vogue Montreal, Canada | 140 | Owned | item 1 . business loews hotels holding corporation the subsidiaries of loews hotels holding corporation ( 201cloews hotels 201d ) , our wholly owned subsidiary , presently operate the following 18 hotels . loews hotels accounted for 2.0% ( 2.0 % ) , 2.9% ( 2.9 % ) and 2.7% ( 2.7 % ) of our consolidated total revenue for the years ended december 31 , 2009 , 2008 and 2007 . number of name and location rooms owned , leased or managed loews annapolis hotel 220 owned annapolis , maryland loews coronado bay 440 land lease expiring 2034 san diego , california loews denver hotel 185 owned denver , colorado the don cesar , a loews hotel 347 management contract ( a ) ( b ) st . pete beach , florida hard rock hotel , 650 management contract ( c ) at universal orlando orlando , florida loews lake las vegas 493 management contract ( a ) henderson , nevada loews le concorde hotel 405 land lease expiring 2069 quebec city , canada the madison , a loews hotel 353 management contract expiring 2021 ( a ) washington , d.c . loews miami beach hotel 790 owned miami beach , florida loews new orleans hotel 285 management contract expiring 2018 ( a ) new orleans , louisiana loews philadelphia hotel 585 owned philadelphia , pennsylvania loews portofino bay hotel , 750 management contract ( c ) at universal orlando orlando , florida loews regency hotel 350 land lease expiring 2013 , with renewal option new york , new york for 47 years loews royal pacific resort 1000 management contract ( c ) at universal orlando orlando , florida loews santa monica beach hotel 340 management contract expiring 2018 , with santa monica , california renewal option for 5 years ( a ) loews vanderbilt hotel 340 owned nashville , tennessee loews ventana canyon 400 management contract expiring 2019 ( a ) tucson , arizona loews hotel vogue 140 owned montreal , canada ( a ) these management contracts are subject to termination rights . ( b ) a loews hotels subsidiary is a 20% ( 20 % ) owner of the hotel , which is being operated by loews hotels pursuant to a management contract . ( c ) a loews hotels subsidiary is a 50% ( 50 % ) owner of these hotels located at the universal orlando theme park , through a joint venture with universal studios and the rank group . the hotels are on land leased by the joint venture and are operated by loews hotels pursuant to a management contract. .

string

management_contract_end_date = 2018 + 5 answer = management_contract_end_date

what was the average expected annual dividend yield , in percent?

1.3999999762

CodeFinQA

marathon oil corporation notes to consolidated financial statements stock-based performance unit awards 2013 during 2018 , 2017 and 2016 we granted 754140 , 563631 and 1205517 stock- based performance unit awards to officers . at december 31 , 2018 , there were 1196176 units outstanding . total stock-based performance unit awards expense was $ 13 million in 2018 , $ 8 million in 2017 and $ 6 million in 2016 . the key assumptions used in the monte carlo simulation to determine the fair value of stock-based performance units granted in 2018 , 2017 and 2016 were: . | | 2018 | 2017 | 2016 | | :--- | :--- | :--- | :--- | | Valuation date stock price | $14.17 | $14.17 | $14.17 | | Expected annual dividend yield | 1.4% | 1.4% | 1.4% | | Expected volatility | 39% | 43% | 52% | | Risk-free interest rate | 2.5% | 2.6% | 2.4% | | Fair value of stock-based performance units outstanding | $19.60 | $19.45 | $21.51 | 18 . defined benefit postretirement plans and defined contribution plan we have noncontributory defined benefit pension plans covering substantially all domestic employees , as well as u.k . employees who were hired before april 2010 . certain employees located in e.g. , who are u.s . or u.k . based , also participate in these plans . benefits under these plans are based on plan provisions specific to each plan . for the u.k . pension plan , the principal employer and plan trustees reached a decision to close the plan to future benefit accruals effective december 31 , 2015 . we also have defined benefit plans for other postretirement benefits covering our u.s . employees . health care benefits are provided up to age 65 through comprehensive hospital , surgical and major medical benefit provisions subject to various cost- sharing features . post-age 65 health care benefits are provided to certain u.s . employees on a defined contribution basis . life insurance benefits are provided to certain retiree beneficiaries . these other postretirement benefits are not funded in advance . employees hired after 2016 are not eligible for any postretirement health care or life insurance benefits. .

string

table_row = [1.4, 1.4, 1.4] # row labeled expected annual dividend yield a = sum(table_row)/len(table_row)

what was the net tax expense for the 3 years ended 2005 related to the change in financial derivatives ( in millions? )

8.1999998093

CodeFinQA

page 71 of 94 notes to consolidated financial statements ball corporation and subsidiaries 16 . shareholders 2019 equity ( continued ) on october 24 , 2007 , ball announced the discontinuance of the company 2019s discount on the reinvestment of dividends associated with the company 2019s dividend reinvestment and voluntary stock purchase plan for non- employee shareholders . the 5 percent discount was discontinued on november 1 , 2007 . accumulated other comprehensive earnings ( loss ) the activity related to accumulated other comprehensive earnings ( loss ) was as follows : ( $ in millions ) foreign currency translation pension and postretirement items , net of tax effective financial derivatives , net of tax accumulated comprehensive earnings ( loss ) . | ($ in millions) | Foreign Currency Translation | Pension and Other Postretirement Items, Net of Tax | Effective Financial Derivatives, Net of Tax | Accumulated Other Comprehensive Earnings (Loss) | | :--- | :--- | :--- | :--- | :--- | | December 31, 2004 | $148.9 | $(126.3) | $10.6 | $33.2 | | 2005 change | (74.3) | (43.6) | (16.0) | (133.9) | | December 31, 2005 | 74.6 | (169.9) | (5.4) | (100.7) | | 2006 change | 57.2 | 55.9 | 6.0 | 119.1 | | Effect of SFAS No. 158 adoption(a) | – | (47.9) | – | (47.9) | | December 31, 2006 | 131.8 | (161.9) | 0.6 | (29.5) | | 2007 change | 90.0 | 57.9 | (11.5) | 136.4 | | December 31, 2007 | $221.8 | $(104.0) | $(10.9) | $106.9 | ( a ) within the company 2019s 2006 annual report , the consolidated statement of changes in shareholders 2019 equity for the year ended december 31 , 2006 , included a transition adjustment of $ 47.9 million , net of tax , related to the adoption of sfas no . 158 , 201cemployers 2019 accounting for defined benefit pension plans and other postretirement plans , an amendment of fasb statements no . 87 , 88 , 106 and 132 ( r ) , 201d as a component of 2006 comprehensive earnings rather than only as an adjustment to accumulated other comprehensive loss . the 2006 amounts have been revised to correct the previous reporting . notwithstanding the 2005 distribution pursuant to the jobs act , management 2019s intention is to indefinitely reinvest foreign earnings . therefore , no taxes have been provided on the foreign currency translation component for any period . the change in the pension and other postretirement items is presented net of related tax expense of $ 31.3 million and $ 2.9 million for 2007 and 2006 , respectively , and a related tax benefit of $ 27.3 million for 2005 . the change in the effective financial derivatives is presented net of related tax benefit of $ 3.2 million for 2007 , related tax expense of $ 5.7 million for 2006 and related tax benefit of $ 10.7 million for 2005 . stock-based compensation programs effective january 1 , 2006 , ball adopted sfas no . 123 ( revised 2004 ) , 201cshare based payment , 201d which is a revision of sfas no . 123 and supersedes apb opinion no . 25 . the new standard establishes accounting standards for transactions in which an entity exchanges its equity instruments for goods or services , including stock option and restricted stock grants . the major differences for ball are that ( 1 ) expense is now recorded in the consolidated statements of earnings for the fair value of new stock option grants and nonvested portions of grants made prior to january 1 , 2006 , and ( 2 ) the company 2019s deposit share program ( discussed below ) is no longer a variable plan that is marked to current market value each month through earnings . upon adoption of sfas no . 123 ( revised 2004 ) , ball has chosen to use the modified prospective transition method and the black-scholes valuation model. .

string

net_tax_expense = 5.7 - 3.2 - 10.7 answer = net_tax_expense

for total interest only home equity lines of credit , what percentage of the total includes home equity lines of credit with balloon payments , including those where we have terminated borrowing privileges , with draw periods scheduled to end in 2015?

1.5

CodeFinQA

on a regular basis our special asset committee closely monitors loans , primarily commercial loans , that are not included in the nonperforming or accruing past due categories and for which we are uncertain about the borrower 2019s ability to comply with existing repayment terms . these loans totaled $ .2 billion at both december 31 , 2014 and december 31 , 2013 . home equity loan portfolio our home equity loan portfolio totaled $ 34.7 billion as of december 31 , 2014 , or 17% ( 17 % ) of the total loan portfolio . of that total , $ 20.4 billion , or 59% ( 59 % ) , was outstanding under primarily variable-rate home equity lines of credit and $ 14.3 billion , or 41% ( 41 % ) , consisted of closed-end home equity installment loans . approximately 3% ( 3 % ) of the home equity portfolio was on nonperforming status as of december 31 , 2014 . as of december 31 , 2014 , we are in an originated first lien position for approximately 51% ( 51 % ) of the total portfolio and , where originated as a second lien , we currently hold or service the first lien position for approximately an additional 2% ( 2 % ) of the portfolio . the remaining 47% ( 47 % ) of the portfolio was secured by second liens where we do not hold the first lien position . the credit performance of the majority of the home equity portfolio where we are in , hold or service the first lien position , is superior to the portion of the portfolio where we hold the second lien position but do not hold the first lien . lien position information is generally based upon original ltv at the time of origination . however , after origination pnc is not typically notified when a senior lien position that is not held by pnc is satisfied . therefore , information about the current lien status of junior lien loans is less readily available in cases where pnc does not also hold the senior lien . additionally , pnc is not typically notified when a junior lien position is added after origination of a pnc first lien . this updated information for both junior and senior liens must be obtained from external sources , and therefore , pnc has contracted with an industry-leading third-party service provider to obtain updated loan , lien and collateral data that is aggregated from public and private sources . we track borrower performance monthly , including obtaining original ltvs , updated fico scores at least quarterly , updated ltvs semi-annually , and other credit metrics at least quarterly , including the historical performance of any mortgage loans regardless of lien position that we do or do not hold . this information is used for internal reporting and risk management . for internal reporting and risk management we also segment the population into pools based on product type ( e.g. , home equity loans , brokered home equity loans , home equity lines of credit , brokered home equity lines of credit ) . as part of our overall risk analysis and monitoring , we segment the home equity portfolio based upon the delinquency , modification status and bankruptcy status of these loans , as well as the delinquency , modification status and bankruptcy status of any mortgage loan with the same borrower ( regardless of whether it is a first lien senior to our second lien ) . in establishing our alll for non-impaired loans , we primarily utilize a delinquency roll-rate methodology for pools of loans . in accordance with accounting principles , under this methodology , we establish our allowance based upon incurred losses , not lifetime expected losses . the roll-rate methodology estimates transition/roll of loan balances from one delinquency state ( e.g. , 30-59 days past due ) to another delinquency state ( e.g. , 60-89 days past due ) and ultimately to charge-off . the roll through to charge-off is based on pnc 2019s actual loss experience for each type of pool . each of our home equity pools contains both first and second liens . our experience has been that the ratio of first to second lien loans has been consistent over time and the charge-off amounts for the pools , used to establish our allowance , include losses on both first and second liens loans . generally , our variable-rate home equity lines of credit have either a seven or ten year draw period , followed by a 20-year amortization term . during the draw period , we have home equity lines of credit where borrowers pay either interest or principal and interest . we view home equity lines of credit where borrowers are paying principal and interest under the draw period as less risky than those where the borrowers are paying interest only , as these borrowers have a demonstrated ability to make some level of principal and interest payments . the risk associated with the borrower 2019s ability to satisfy the loan terms upon the draw period ending is considered in establishing our alll . based upon outstanding balances at december 31 , 2014 , the following table presents the periods when home equity lines of credit draw periods are scheduled to end . table 36 : home equity lines of credit 2013 draw period end in millions interest only product principal and interest product . | In millions | Interest OnlyProduct | Principal andInterest Product | | :--- | :--- | :--- | | 2015 | $1,597 | $541 | | 2016 | 1,366 | 437 | | 2017 | 2,434 | 596 | | 2018 | 1,072 | 813 | | 2019 and thereafter | 3,880 | 5,391 | | Total (a)(b) | $10,349 | $7,778 | ( a ) includes all home equity lines of credit that mature in 2015 or later , including those with borrowers where we have terminated borrowing privileges . ( b ) includes approximately $ 154 million , $ 48 million , $ 57 million , $ 42 million and $ 564 million of home equity lines of credit with balloon payments , including those where we have terminated borrowing privileges , with draw periods scheduled to end in 2015 , 2016 , 2017 , 2018 and 2019 and thereafter , respectively . 76 the pnc financial services group , inc . 2013 form 10-k .

string

portion_balloon_payments = 154 / 10349 answer = portion_balloon_payments * 100

what is the percentual reduction of intersegment sales concerning the total sales during 2013 and 2014?

4.5799999237

CodeFinQA

additionally , the latin american soft alloy extrusions business previously included in corporate was moved into the new transportation and construction solutions segment . the remaining engineered products and solutions segment consists of the alcoa fastening systems and rings ( renamed to include portions of the firth rixson business acquired in november 2014 ) , alcoa power and propulsion ( includes the tital business acquired in march 2015 ) , alcoa forgings and extrusions ( includes the other portions of firth rixson ) , and alcoa titanium and engineered products ( a new business unit that consists solely of the rti international metals business acquired in july 2015 ) business units . segment information for all prior periods presented was updated to reflect the new segment structure . atoi for all reportable segments totaled $ 1906 in 2015 , $ 1968 in 2014 , and $ 1267 in 2013 . the following information provides shipments , sales , and atoi data for each reportable segment , as well as certain production , realized price , and average cost data , for each of the three years in the period ended december 31 , 2015 . see note q to the consolidated financial statements in part ii item 8 of this form 10-k for additional information . alumina . | | 2015 | 2014 | 2013 | | :--- | :--- | :--- | :--- | | Alumina production (kmt) | 15,720 | 16,606 | 16,618 | | Third-party alumina shipments (kmt) | 10,755 | 10,652 | 9,966 | | Alcoa’s average realized price per metric ton of alumina | $317 | $324 | $328 | | Alcoa’s average cost per metric ton of alumina* | $237 | $282 | $295 | | Third-party sales | $3,455 | $3,509 | $3,326 | | Intersegment sales | 1,687 | 1,941 | 2,235 | | Total sales | $5,142 | $5,450 | $5,561 | | ATOI | $746 | $370 | $259 | * includes all production-related costs , including raw materials consumed ; conversion costs , such as labor , materials , and utilities ; depreciation , depletion , and amortization ; and plant administrative expenses . this segment represents a portion of alcoa 2019s upstream operations and consists of the company 2019s worldwide refining system . alumina mines bauxite , from which alumina is produced and then sold directly to external smelter customers , as well as to the primary metals segment ( see primary metals below ) , or to customers who process it into industrial chemical products . more than half of alumina 2019s production is sold under supply contracts to third parties worldwide , while the remainder is used internally by the primary metals segment . alumina produced by this segment and used internally is transferred to the primary metals segment at prevailing market prices . a portion of this segment 2019s third- party sales are completed through the use of agents , alumina traders , and distributors . generally , the sales of this segment are transacted in u.s . dollars while costs and expenses of this segment are transacted in the local currency of the respective operations , which are the australian dollar , the brazilian real , the u.s . dollar , and the euro . awac is an unincorporated global joint venture between alcoa and alumina limited and consists of a number of affiliated operating entities , which own , or have an interest in , or operate the bauxite mines and alumina refineries within the alumina segment ( except for the poc 0327os de caldas refinery in brazil and a portion of the sa 0303o lul 0301s refinery in brazil ) . alcoa owns 60% ( 60 % ) and alumina limited owns 40% ( 40 % ) of these individual entities , which are consolidated by the company for financial reporting purposes . as such , the results and analysis presented for the alumina segment are inclusive of alumina limited 2019s 40% ( 40 % ) interest . in december 2014 , awac completed the sale of its ownership stake in jamalco , a bauxite mine and alumina refinery joint venture in jamaica , to noble group ltd . jamalco was 55% ( 55 % ) owned by a subsidiary of awac , and , while owned by awac , 55% ( 55 % ) of both the operating results and assets and liabilities of this joint venture were included in the alumina segment . as it relates to awac 2019s previous 55% ( 55 % ) ownership stake , the refinery ( awac 2019s share of the capacity was 779 kmt-per-year ) generated sales ( third-party and intersegment ) of approximately $ 200 in 2013 , and the refinery and mine combined , at the time of divestiture , had approximately 500 employees . see restructuring and other charges in results of operations above. .

string

intersegment_sales_2013 = 2235 intersegment_sales_2014 = 1941 total_sales_2013 = 5561 total_sales_2014 = 5450 percent_reduction = (intersegment_sales_2013 / total_sales_2013) - (intersegment_sales_2014 / total_sales_2014) answer = percent_reduction * 100

considering the average for the years 2021-2025 , what is the increase observed in the projected benefit payments for the u.s during 2020 and 2021?

16.6299991608

CodeFinQA

mutual and pooled funds shares of mutual funds are valued at the net asset value ( nav ) quoted on the exchange where the fund is traded and are classified as level 1 assets . units of pooled funds are valued at the per unit nav determined by the fund manager and are classified as level 2 assets . the investments are utilizing nav as a practical expedient for fair value . 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 . mortgage and asset-backed securities mortgage and asset 2013backed securities 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 , credit ratings , and purpose of the underlying loan . real estate pooled funds real estate pooled funds are classified as level 3 assets , as they are carried at the estimated fair value of the underlying properties . estimated fair value is calculated utilizing a combination of key inputs , such as revenue and expense growth rates , terminal capitalization rates , and discount rates . these key inputs are consistent with practices prevailing within the real estate investment management industry . 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 of the underlying investments . the underlying investments are valued based on 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 . contributions and projected benefit payments pension contributions to funded plans and benefit payments for unfunded plans for fiscal year 2015 were $ 137.5 . contributions resulted primarily from an assessment of long-term funding requirements of the plans and tax planning . benefit payments to unfunded plans were due primarily to the timing of retirements and cost reduction actions . we anticipate contributing $ 100 to $ 120 to the defined benefit pension plans in 2016 . these contributions are driven primarily by benefit payments for unfunded plans , which are dependent upon timing of retirements and actions to reorganize the business . projected benefit payments , which reflect expected future service , are as follows: . | | U.S. | International | | :--- | :--- | :--- | | 2016 | $129.0 | $52.0 | | 2017 | 135.8 | 53.5 | | 2018 | 142.2 | 55.3 | | 2019 | 149.6 | 57.5 | | 2020 | 157.4 | 57.8 | | 2021–2025 | 917.9 | 332.3 | these estimated benefit payments are based on assumptions about future events . actual benefit payments may vary significantly from these estimates. .

string

average_benefit_payments = 917.9 / 5 average_benefit_payments_2020_2021 = average_benefit_payments / 157.4 increase = average_benefit_payments_2020_2021 - 1 answer = increase * 100

what is the average tax benefit , in millions?

71.3300018311

CodeFinQA

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. .

string

table_row = [68, 82, 64] # row labeled tax benefit a = sum(table_row)/len(table_row)

what was the lowest amount of accounts receivable net , in millions?

565

CodeFinQA

liquidity and capital resources the following table presents selected financial information and statistics for each of the last three fiscal years ( dollars in millions ) : . | | 2004 | 2003 | 2002 | | :--- | :--- | :--- | :--- | | Cash, cash equivalents, and short-term investments | $5,464 | $4,566 | $4,337 | | Accounts receivable, net | $774 | $766 | $565 | | Inventory | $101 | $56 | $45 | | Working capital | $4,375 | $3,530 | $3,730 | | Days sales in accounts receivable (DSO) (a) | 30 | 41 | 36 | | Days of supply in inventory (b) | 5 | 4 | 4 | | Days payables outstanding (DPO) (c) | 76 | 82 | 77 | | Annual operating cash flow | $934 | $289 | $89 | ( a ) dso is based on ending net trade receivables and most recent quarterly net sales for each period . ( b ) days supply of inventory is based on ending inventory and most recent quarterly cost of sales for each period . ( c ) dpo is based on ending accounts payable and most recent quarterly cost of sales adjusted for the change in inventory . as of september 25 , 2004 , the company had $ 5.464 billion in cash , cash equivalents , and short-term investments , an increase of $ 898 million over the same balances at the end of fiscal 2003 . the principal components of this increase were cash generated by operating activities of $ 934 million and proceeds of $ 427 million from the issuance of common stock under stock plans , partially offset by cash used to repay the company 2019s outstanding debt of $ 300 million and purchases of property , plant , and equipment of $ 176 million . the company 2019s short-term investment portfolio is primarily invested in high credit quality , liquid investments . approximately $ 3.2 billion of this cash , cash equivalents , and short-term investments are held by the company 2019s foreign subsidiaries and would be subject to u.s . income taxation on repatriation to the u.s . the company is currently assessing the impact of the one-time favorable foreign dividend provisions recently enacted as part of the american jobs creation act of 2004 , and may decide to repatriate earnings from some of its foreign subsidiaries . the company believes its existing balances of cash , cash equivalents , and short-term investments will be sufficient to satisfy its working capital needs , capital expenditures , stock repurchase activity , outstanding commitments , and other liquidity requirements associated with its existing operations over the next 12 months . in february 2004 , the company retired $ 300 million of debt outstanding in the form of 6.5% ( 6.5 % ) unsecured notes . the notes were originally issued in 1994 and were sold at 99.9925% ( 99.9925 % ) of par for an effective yield to maturity of 6.51% ( 6.51 % ) . the company currently has no long-term debt obligations . capital expenditures the company 2019s total capital expenditures were $ 176 million during fiscal 2004 , $ 104 million of which were for retail store facilities and equipment related to the company 2019s retail segment and $ 72 million of which were primarily for corporate infrastructure , including information systems enhancements and operating facilities enhancements and expansions . the company currently anticipates it will utilize approximately $ 240 million for capital expenditures during 2005 , approximately $ 125 million of which is expected to be utilized for further expansion of the company 2019s retail segment and the remainder utilized to support normal replacement of existing capital assets and enhancements to general information technology infrastructure. .

string

table_row = [774, 766, 565] # row labeled accounts receivable net a = min(table_row)

what was the percentage gained by investing $ 100 into global payments in comparison to the technology index?

205.0700073242

CodeFinQA

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 .

string

a = 474.52 - 100 b = 269.45 - 100 c = a - b

what were average incentive fees in millions for the three year period?

517

CodeFinQA

management 2019s discussion and analysis 2011 versus 2010 . net revenues in investing & lending were $ 2.14 billion and $ 7.54 billion for 2011 and 2010 , respectively . during 2011 , investing & lending results reflected an operating environment characterized by a significant decline in equity markets in europe and asia , and unfavorable credit markets that were negatively impacted by increased concerns regarding the weakened state of global economies , including heightened european sovereign debt risk . results for 2011 included a loss of $ 517 million from our investment in the ordinary shares of icbc and net gains of $ 1.12 billion from other investments in equities , primarily in private equities , partially offset by losses from public equities . in addition , investing & lending included net revenues of $ 96 million from debt securities and loans . this amount includes approximately $ 1 billion of unrealized losses related to relationship lending activities , including the effect of hedges , offset by net interest income and net gains from other debt securities and loans . results for 2011 also included other net revenues of $ 1.44 billion , principally related to our consolidated investment entities . results for 2010 included a gain of $ 747 million from our investment in the ordinary shares of icbc , a net gain of $ 2.69 billion from other investments in equities , a net gain of $ 2.60 billion from debt securities and loans and other net revenues of $ 1.51 billion , principally related to our consolidated investment entities . the net gain from other investments in equities was primarily driven by an increase in global equity markets , which resulted in appreciation of both our public and private equity positions and provided favorable conditions for initial public offerings . the net gains and net interest from debt securities and loans primarily reflected the impact of tighter credit spreads and favorable credit markets during the year , which provided favorable conditions for borrowers to refinance . operating expenses were $ 2.67 billion for 2011 , 20% ( 20 % ) lower than 2010 , due to decreased compensation and benefits expenses , primarily resulting from lower net revenues . this decrease was partially offset by the impact of impairment charges related to consolidated investments during 2011 . pre-tax loss was $ 531 million in 2011 , compared with pre-tax earnings of $ 4.18 billion in 2010 . investment management investment management provides investment management services and offers investment products ( primarily through separately managed accounts and commingled vehicles , such as mutual funds and private investment funds ) across all major asset classes to a diverse set of institutional and individual clients . investment management also offers wealth advisory services , including portfolio management and financial counseling , and brokerage and other transaction services to high-net-worth individuals and families . assets under supervision include assets under management and other client assets . assets under management include client assets where we earn a fee for managing assets on a discretionary basis . this includes net assets in our mutual funds , hedge funds , credit funds and private equity funds ( including real estate funds ) , and separately managed accounts for institutional and individual investors . other client assets include client assets invested with third-party managers , private bank deposits and assets related to advisory relationships where we earn a fee for advisory and other services , but do not have discretion over the assets . assets under supervision do not include the self-directed brokerage accounts of our clients . assets under management and other client assets typically generate fees as a percentage of net asset value , which vary by asset class and are affected by investment performance as well as asset inflows and redemptions . in certain circumstances , we are also entitled to receive incentive fees based on a percentage of a fund 2019s return or when the return exceeds a specified benchmark or other performance targets . incentive fees are recognized only when all material contingencies are resolved . the table below presents the operating results of our investment management segment. . | | Year Ended December | | :--- | :--- | | <i>in millions</i> | 2012 | 2011 | 2010 | | Management and other fees | $4,105 | $4,188 | $3,956 | | Incentive fees | 701 | 323 | 527 | | Transaction revenues | 416 | 523 | 531 | | Total net revenues | 5,222 | 5,034 | 5,014 | | Operating expenses | 4,294 | 4,020 | 4,082 | | Pre-tax earnings | $ 928 | $1,014 | $ 932 | 56 goldman sachs 2012 annual report .

string

table_row = [701, 323, 527] # row labeled incentive fees a = sum(table_row)/len(table_row)

what is the percentage of additional collateral or termination payments for a two-notch downgrade over additional collateral or termination payments for a one-notch downgrade for 2011?

68

CodeFinQA

management 2019s discussion and analysis we believe our credit ratings are primarily based on the credit rating agencies 2019 assessment of : 2030 our liquidity , market , credit and operational risk management practices ; 2030 the level and variability of our earnings ; 2030 our capital base ; 2030 our franchise , reputation and management ; 2030 our corporate governance ; and 2030 the external operating environment , including the assumed level of government support . certain of the firm 2019s derivatives have been transacted under bilateral agreements with counterparties who may require us to post collateral or terminate the transactions based on changes in our credit ratings . we assess the impact of these bilateral agreements by determining the collateral or termination payments that would occur assuming a downgrade by all rating agencies . a downgrade by any one rating agency , depending on the agency 2019s relative ratings of the firm at the time of the downgrade , may have an impact which is comparable to the impact of a downgrade by all rating agencies . we allocate a portion of our gce to ensure we would be able to make the additional collateral or termination payments that may be required in the event of a two-notch reduction in our long-term credit ratings , as well as collateral that has not been called by counterparties , but is available to them . the table below presents the additional collateral or termination payments that could have been called at the reporting date by counterparties in the event of a one-notch and two-notch downgrade in our credit ratings. . | | As of December | | :--- | :--- | | <i>in millions</i> | 2012 | 2011 | | Additional collateral or termination payments for a one-notch downgrade | $1,534 | $1,303 | | Additional collateral or termination payments for a two-notch downgrade | 2,500 | 2,183 | in millions 2012 2011 additional collateral or termination payments for a one-notch downgrade $ 1534 $ 1303 additional collateral or termination payments for a two-notch downgrade 2500 2183 cash flows as a global financial institution , our cash flows are complex and bear little relation to our net earnings and net assets . consequently , we believe that traditional cash flow analysis is less meaningful in evaluating our liquidity position than the excess liquidity and asset-liability management policies described above . cash flow analysis may , however , be helpful in highlighting certain macro trends and strategic initiatives in our businesses . year ended december 2012 . our cash and cash equivalents increased by $ 16.66 billion to $ 72.67 billion at the end of 2012 . we generated $ 9.14 billion in net cash from operating and investing activities . we generated $ 7.52 billion in net cash from financing activities from an increase in bank deposits , partially offset by net repayments of unsecured and secured long-term borrowings . year ended december 2011 . our cash and cash equivalents increased by $ 16.22 billion to $ 56.01 billion at the end of 2011 . we generated $ 23.13 billion in net cash from operating and investing activities . we used net cash of $ 6.91 billion for financing activities , primarily for repurchases of our series g preferred stock and common stock , partially offset by an increase in bank deposits . year ended december 2010 . our cash and cash equivalents increased by $ 1.50 billion to $ 39.79 billion at the end of 2010 . we generated $ 7.84 billion in net cash from financing activities primarily from net proceeds from issuances of short-term secured financings . we used net cash of $ 6.34 billion for operating and investing activities , primarily to fund an increase in securities purchased under agreements to resell and an increase in cash and securities segregated for regulatory and other purposes , partially offset by cash generated from a decrease in securities borrowed . goldman sachs 2012 annual report 87 .

string

additional_collateral_2012 = 2183 additional_collateral_2011 = 1303 change = additional_collateral_2012 - additional_collateral_2011 percent_change = change / additional_collateral_2011 answer = percent_change * 100

what was total pretax income from discontinued operations for the three year period?

582

CodeFinQA

marathon oil corporation notes to consolidated financial statements been reported as discontinued operations in the consolidated statements of income and the consolidated statements of cash flows for all periods presented . discontinued operations 2014revenues and pretax income associated with our discontinued irish and gabonese operations are shown in the following table : ( in millions ) 2009 2008 2007 . | <i>(In millions)</i> | 2009 | 2008 | 2007 | | :--- | :--- | :--- | :--- | | Revenues applicable to discontinued operations | $188 | $439 | $456 | | Pretax income from discontinued operations | $80 | $221 | $281 | angola disposition 2013 in july 2009 , we entered into an agreement to sell an undivided 20 percent outside- operated interest in the production sharing contract and joint operating agreement in block 32 offshore angola for $ 1.3 billion , excluding any purchase price adjustments at closing , with an effective date of january 1 , 2009 . the sale closed and we received net proceeds of $ 1.3 billion in february 2010 . the pretax gain on the sale will be approximately $ 800 million . we retained a 10 percent outside-operated interest in block 32 . gabon disposition 2013 in december 2009 , we closed the sale of our operated fields offshore gabon , receiving net proceeds of $ 269 million , after closing adjustments . a $ 232 million pretax gain on this disposition was reported in discontinued operations for 2009 . permian basin disposition 2013 in june 2009 , we closed the sale of our operated and a portion of our outside- operated permian basin producing assets in new mexico and west texas for net proceeds after closing adjustments of $ 293 million . a $ 196 million pretax gain on the sale was recorded . ireland dispositions 2013 in april 2009 , we closed the sale of our operated properties in ireland for net proceeds of $ 84 million , after adjusting for cash held by the sold subsidiary . a $ 158 million pretax gain on the sale was recorded . as a result of this sale , we terminated our pension plan in ireland , incurring a charge of $ 18 million . in june 2009 , we entered into an agreement to sell the subsidiary holding our 19 percent outside-operated interest in the corrib natural gas development offshore ireland . total proceeds were estimated to range between $ 235 million and $ 400 million , subject to the timing of first commercial gas at corrib and closing adjustments . at closing on july 30 , 2009 , the initial $ 100 million payment plus closing adjustments was received . the fair value of the proceeds was estimated to be $ 311 million . fair value of anticipated sale proceeds includes ( i ) $ 100 million received at closing , ( ii ) $ 135 million minimum amount due at the earlier of first gas or december 31 , 2012 , and ( iii ) a range of zero to $ 165 million of contingent proceeds subject to the timing of first commercial gas . a $ 154 million impairment of the held for sale asset was recognized in discontinued operations in the second quarter of 2009 ( see note 16 ) since the fair value of the disposal group was less than the net book value . final proceeds will range between $ 135 million ( minimum amount ) to $ 300 million and are due on the earlier of first commercial gas or december 31 , 2012 . the fair value of the expected final proceeds was recorded as an asset at closing . as a result of new public information in the fourth quarter of 2009 , a writeoff was recorded on the contingent portion of the proceeds ( see note 10 ) . existing guarantees of our subsidiaries 2019 performance issued to irish government entities will remain in place after the sales until the purchasers issue similar guarantees to replace them . the guarantees , related to asset retirement obligations and natural gas production levels , have been indemnified by the purchasers . the fair value of these guarantees is not significant . norwegian disposition 2013 on october 31 , 2008 , we closed the sale of our norwegian outside-operated e&p properties and undeveloped offshore acreage in the heimdal area of the norwegian north sea for net proceeds of $ 301 million , with a pretax gain of $ 254 million as of december 31 , 2008 . pilot travel centers disposition 2013 on october 8 , 2008 , we completed the sale of our 50 percent ownership interest in ptc . sale proceeds were $ 625 million , with a pretax gain on the sale of $ 126 million . immediately preceding the sale , we received a $ 75 million partial redemption of our ownership interest from ptc that was accounted for as a return of investment . this was an investment of our rm&t segment. .

string

table_row = [80, 221, 281] # row labeled pretax income from discontinued operations a = sum(table_row)

how much did the quarterly dividend yield change from 2010 to 2012 for applied materials?

0.042010203

CodeFinQA

performance graph the performance graph below shows the five-year cumulative total stockholder return on applied common stock during the period from october 28 , 2007 through october 28 , 2012 . this is compared with the cumulative total return of the standard & poor 2019s 500 stock index and the rdg semiconductor composite index over the same period . the comparison assumes $ 100 was invested on october 28 , 2007 in applied common stock and in each of the foregoing indices and assumes reinvestment of dividends , if any . dollar amounts in the graph are rounded to the nearest whole dollar . the performance shown in the graph represents past performance and should not be considered an indication of future performance . comparison of 5 year cumulative total return* among applied materials , inc. , the s&p 500 index and the rdg semiconductor composite index * $ 100 invested on 10/28/07 in stock or 10/31/07 in index , including reinvestment of dividends . indexes calculated on month-end basis . copyright a9 2012 s&p , a division of the mcgraw-hill companies inc . all rights reserved. . | | 10/28/2007 | 10/26/2008 | 10/25/2009 | 10/31/2010 | 10/30/2011 | 10/28/2012 | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Applied Materials | 100.00 | 61.22 | 71.06 | 69.23 | 72.37 | 62.92 | | S&P 500 Index | 100.00 | 63.90 | 70.17 | 81.76 | 88.37 | 101.81 | | RDG Semiconductor Composite Index | 100.00 | 54.74 | 68.59 | 84.46 | 91.33 | 82.37 | dividends during fiscal 2012 , applied 2019s board of directors declared three quarterly cash dividends in the amount of $ 0.09 per share each and one quarterly cash dividend in the amount of $ 0.08 per share . during fiscal 2011 , applied 2019s board of directors declared three quarterly cash dividends in the amount of $ 0.08 per share each and one quarterly cash dividend in the amount of $ 0.07 per share . during fiscal 2010 , applied 2019s board of directors declared three quarterly cash dividends in the amount of $ 0.07 per share each and one quarterly cash dividend in the amount of $ 0.06 . dividends declared during fiscal 2012 , 2011 and 2010 amounted to $ 438 million , $ 408 million and $ 361 million , respectively . applied currently anticipates that it will continue to pay cash dividends on a quarterly basis in the future , although the declaration and amount of any future cash dividends are at the discretion of the board of directors and will depend on applied 2019s financial condition , results of operations , capital requirements , business conditions and other factors , as well as a determination that cash dividends are in the best interests of applied 2019s stockholders . 10/28/07 10/26/08 10/25/09 10/31/10 10/30/11 10/28/12 applied materials , inc . s&p 500 rdg semiconductor composite .

string

dividend_yield_change = 0.09 / 62.92 s_and_p_yield = 0.07 / 69.23 percent_change = dividend_yield_change - s_and_p_yield answer = percent_change * 100

what percentage of capital spending from continuing operations was from the printing papers segment in 2004?

50

CodeFinQA

management believes it is important for interna- tional paper to maintain an investment-grade credit rat- ing to facilitate access to capital markets on favorable terms . at december 31 , 2005 , the company held long- term credit ratings of bbb ( negative outlook ) and baa3 ( stable outlook ) from standard & poor 2019s and moody 2019s investor services , respectively . cash provided by operations cash provided by continuing operations totaled $ 1.5 billion for 2005 , compared with $ 2.1 billion in 2004 and $ 1.5 billion in 2003 . the major components of cash provided by continuing operations are earnings from continuing operations adjusted for non-cash in- come and expense items and changes in working capital . earnings from continuing operations adjusted for non-cash items declined by $ 83 million in 2005 versus 2004 . this compared with an increase of $ 612 million for 2004 over 2003 . working capital , representing international paper 2019s investments in accounts receivable and inventory less accounts payable and accrued liabilities , was $ 2.6 billion at december 31 , 2005 . cash used for working capital components increased by $ 591 million in 2005 , com- pared with a $ 86 million increase in 2004 and an $ 11 million increase in 2003 . the increase in 2005 was principally due to a decline in accrued liabilities at de- cember 31 , 2005 . investment activities capital spending from continuing operations was $ 1.2 billion in 2005 , or 84% ( 84 % ) of depreciation and amor- tization , comparable to the $ 1.2 billion , or 87% ( 87 % ) of depreciation and amortization in 2004 , and $ 1.0 billion , or 74% ( 74 % ) of depreciation and amortization in 2003 . the following table presents capital spending from continuing operations by each of our business segments for the years ended december 31 , 2005 , 2004 and 2003 . in millions 2005 2004 2003 . | <i>In millions</i> | 2005 | 2004 | 2003 | | :--- | :--- | :--- | :--- | | Printing Papers | $658 | $590 | $482 | | Industrial Packaging | 187 | 179 | 165 | | Consumer Packaging | 131 | 205 | 128 | | Distribution | 9 | 5 | 12 | | Forest Products | 121 | 126 | 121 | | Specialty Businesses and Other | 31 | 39 | 31 | | Subtotal | 1,137 | 1,144 | 939 | | Corporate and other | 18 | 32 | 54 | | Total from continuing operations | $1,155 | $1,176 | $993 | we expect capital expenditures in 2006 to be about $ 1.2 billion , or about 80% ( 80 % ) of depreciation and amor- tization . we will continue to focus our future capital spending on improving our key platform businesses in north america and on investments in geographic areas with strong growth opportunities . acquisitions in october 2005 , international paper acquired ap- proximately 65% ( 65 % ) of compagnie marocaine des cartons et des papiers ( cmcp ) , a leading moroccan corrugated packaging company , for approximately $ 80 million in cash plus assumed debt of approximately $ 40 million . in august 2005 , pursuant to an existing agreement , international paper purchased a 50% ( 50 % ) third-party interest in ippm ( subsequently renamed international paper distribution limited ) for $ 46 million to facilitate possi- ble further growth in asian markets . in 2001 , interna- tional paper had acquired a 25% ( 25 % ) interest in this business . the accompanying consolidated balance sheet as of december 31 , 2005 includes preliminary estimates of the fair values of the assets and liabilities acquired , including approximately $ 50 million of goodwill . in july 2004 , international paper acquired box usa holdings , inc . ( box usa ) for approximately $ 400 million , including the assumption of approximately $ 197 million of debt , of which approximately $ 193 mil- lion was repaid by july 31 , 2004 . each of the above acquisitions was accounted for using the purchase method . the operating results of these acquisitions have been included in the con- solidated statement of operations from the dates of ac- quisition . financing activities 2005 : financing activities during 2005 included debt issuances of $ 1.0 billion and retirements of $ 2.7 billion , for a net debt and preferred securities reduction of $ 1.7 billion . in november and december 2005 , international paper investments ( luxembourg ) s.ar.l. , a wholly- owned subsidiary of international paper , issued $ 700 million of long-term debt with an initial interest rate of libor plus 40 basis points that can vary depending upon the credit rating of the company , and a maturity date in november 2010 . additionally , the subsidiary borrowed $ 70 million under a bank credit agreement with an initial interest rate of libor plus 40 basis points that can vary depending upon the credit rating of the company , and a maturity date in november 2006 . in december 2005 , international paper used pro- ceeds from the above borrowings , and from the sale of chh in the third quarter of 2005 , to repay approx- imately $ 190 million of notes with coupon rates ranging from 3.8% ( 3.8 % ) to 10% ( 10 % ) and original maturities from 2008 to 2029 . the remaining proceeds from the borrowings and the chh sale will be used for further debt reductions in the first quarter of 2006. .

string

printing_papers_spending_2004 = 590 total_printing_papers_spending_2004 = 1176 percent_2004 = printing_papers_spending_2004 / total_printing_papers_spending_2004 answer = percent_2004 * 100

what percent of distribution sales where attributable to printing papers and graphic arts supplies and equipment in 2012?

58

CodeFinQA

foodservice sales volumes increased in 2012 compared with 2011 . average sales margins were higher reflecting the realization of sales price increases for the pass-through of earlier cost increases . raw material costs for board and resins were lower . operating costs and distribution costs were both higher . the u.s . shorewood business was sold december 31 , 2011 and the non-u.s . business was sold in january looking ahead to the first quarter of 2013 , coated paperboard sales volumes are expected to increase slightly from the fourth quarter of 2012 . average sales price realizations are expected to be slightly lower , but margins should benefit from a more favorable product mix . input costs are expected to be higher for energy and wood . no planned main- tenance outages are scheduled in the first quarter . in january 2013 the company announced the perma- nent shutdown of a coated paperboard machine at the augusta mill with an annual capacity of 140000 tons . foodservice sales volumes are expected to increase . average sales margins are expected to decrease due to the realization of sales price decreases effective with our january contract open- ers . input costs for board and resin are expected to be lower and operating costs are also expected to decrease . european consumer packaging net sales in 2012 were $ 380 million compared with $ 375 million in 2011 and $ 345 million in 2010 . operating profits in 2012 were $ 99 million compared with $ 93 million in 2011 and $ 76 million in 2010 . sales volumes in 2012 increased from 2011 . average sales price realizations were higher in russian markets , but were lower in european markets . input costs decreased , primarily for wood , and planned maintenance downtime costs were lower in 2012 than in 2011 . looking forward to the first quarter of 2013 , sales volumes are expected to decrease in both europe and russia . average sales price realizations are expected to be higher in russia , but be more than offset by decreases in europe . input costs are expected to increase for wood and chemicals . no maintenance outages are scheduled for the first quarter . asian consumer packaging net sales were $ 830 million in 2012 compared with $ 855 million in 2011 and $ 705 million in 2010 . operating profits in 2012 were $ 4 million compared with $ 35 million in 2011 and $ 34 million in 2010 . sales volumes increased in 2012 compared with 2011 partially due to the start-up of a new coated paperboard machine . average sales price realizations were significantly lower , but were partially offset by lower input costs for purchased pulp . start-up costs for a new coated paperboard machine adversely impacted operating profits in 2012 . in the first quarter of 2013 , sales volumes are expected to increase slightly . average sales price realizations for folding carton board and bristols board are expected to be lower reflecting increased competitive pressures and seasonally weaker market demand . input costs should be higher for pulp and chemicals . however , costs related to the ramp-up of the new coated paperboard machine should be lower . distribution xpedx , our distribution business , is one of north america 2019s leading business-to-business distributors to manufacturers , facility managers and printers , providing customized solutions that are designed to improve efficiency , reduce costs and deliver results . customer demand is generally sensitive to changes in economic conditions and consumer behavior , along with segment specific activity including corpo- rate advertising and promotional spending , government spending and domestic manufacturing activity . distribution 2019s margins are relatively stable across an economic cycle . providing customers with the best choice for value in both products and supply chain services is a key competitive factor . addition- ally , efficient customer service , cost-effective logis- tics and focused working capital management are key factors in this segment 2019s profitability . distribution . | In millions | 2012 | 2011 | 2010 | | :--- | :--- | :--- | :--- | | Sales | $6,040 | $6,630 | $6,735 | | Operating Profit | 22 | 34 | 78 | distr ibut ion 2019s 2012 annual sales decreased 9% ( 9 % ) from 2011 , and decreased 10% ( 10 % ) from 2010 . operating profits in 2012 were $ 22 million ( $ 71 million exclud- ing reorganization costs ) compared with $ 34 million ( $ 86 million excluding reorganization costs ) in 2011 and $ 78 million in 2010 . annual sales of printing papers and graphic arts supplies and equipment totaled $ 3.5 billion in 2012 compared with $ 4.0 billion in 2011 and $ 4.2 billion in 2010 , reflecting declining demand and the exiting of unprofitable businesses . trade margins as a percent of sales for printing papers were relatively even with both 2011 and 2010 . revenue from packaging prod- ucts was flat at $ 1.6 billion in both 2012 and 2011 and up slightly compared to $ 1.5 billion in 2010 . pack- aging margins increased in 2012 from both 2011 and 2010 , reflecting the successful execution of strategic sourcing initiatives . facility supplies annual revenue was $ 0.9 billion in 2012 , down compared to $ 1.0 bil- lion in 2011 and 2010 . operating profits in 2012 included $ 49 million of reorganization costs for severance , professional services and asset write-downs compared with $ 52 .

string

total_sales = 3.5 * 1000 revenue_per_sales = total_sales / 6040 answer = revenue_per_sales * 100

what is the approximate customer penetration in the pennsylvania market area?

30

CodeFinQA

part i item 1 . business our company founded in 1886 , american water works company , inc. , ( the 201ccompany , 201d 201camerican water 201d or 201caww 201d ) is a delaware holding company . american water is the most geographically diversified , as well as the largest publicly-traded , united states water and wastewater utility company , as measured by both operating revenues and population served . as a holding company , we conduct substantially all of our business operations through our subsidiaries . our approximately 6400 employees provide an estimated 15 million people with drinking water , wastewater and/or other water-related services in 47 states and one canadian province . operating segments we report our results of operations in two operating segments : the regulated businesses and the market- based operations . additional information with respect to our operating segment results is included in the section entitled 201citem 7 2014management 2019s discussion and analysis of financial condition and results of operations , 201d and note 18 of the consolidated financial statements . regulated businesses our primary business involves the ownership of subsidiaries that provide water and wastewater utility services to residential , commercial , industrial and other customers , including sale for resale and public authority customers . we report the results of this business in our regulated businesses segment . our subsidiaries that provide these services are generally subject to economic regulation by certain state commissions or other entities engaged in economic regulation , hereafter referred to as public utility commissions , or 201cpucs , 201d of the states in which we operate . the federal and state governments also regulate environmental , health and safety , and water quality matters . our regulated businesses segment operating revenues were $ 2674.3 million for 2014 , $ 2539.9 for 2013 , $ 2564.4 million for 2012 , accounting for 88.8% ( 88.8 % ) , 90.1% ( 90.1 % ) and 89.9% ( 89.9 % ) , respectively , of total operating revenues for the same periods . the following table sets forth our regulated businesses operating revenues , number of customers and an estimate of population served as of december 31 , 2014 : operating revenues ( in millions ) % ( % ) of total number of customers % ( % ) of total estimated population served ( in millions ) % ( % ) of total . | | OperatingRevenues(In millions) | % of Total | Number ofCustomers | % of Total | EstimatedPopulationServed(In millions) | % of Total | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | New Jersey | $652.3 | 24.5% | 648,066 | 20.2% | 2.7 | 22.7% | | Pennsylvania | 605.4 | 22.6% | 666,415 | 20.7% | 2.2 | 18.5% | | Missouri | 270.2 | 10.1% | 464,498 | 14.4% | 1.5 | 12.7% | | Illinois (a) | 262.3 | 9.8% | 312,017 | 9.7% | 1.3 | 10.9% | | California | 209.8 | 7.8% | 174,198 | 5.4% | 0.6 | 5.0% | | Indiana | 200.6 | 7.5% | 293,666 | 9.1% | 1.2 | 10.1% | | West Virginia (b) | 127.0 | 4.7% | 170,371 | 5.3% | 0.6 | 5.0% | | Subtotal (Top Seven States) | 2,327.6 | 87.0% | 2,729,231 | 84.8% | 10.1 | 84.9% | | Other (c) | 346.7 | 13.0% | 489,961 | 15.2% | 1.8 | 15.1% | | Total Regulated Businesses | $2,674.3 | 100.0% | 3,219,192 | 100.0% | 11.9 | 100.0% | ( a ) includes illinois-american water company , which we refer to as ilawc and american lake water company , also a regulated subsidiary in illinois. .

string

a = 2.2 * 1000000 b = 666415 / a answer_1 = b * 100

what portion of the prepaid rent is used during 2009?

1281

CodeFinQA

adobe systems incorporated notes to consolidated financial statements ( continued ) note 8 . other assets other assets as of november 27 , 2009 and november 28 , 2008 consisted of the following ( in thousands ) : . | | 2009 | 2008 | | :--- | :--- | :--- | | Acquired rights to use technology | $84,313 | $90,643 | | Investments | 63,526 | 76,589 | | Security and other deposits | 11,692 | 16,087 | | Prepaid royalties | 12,059 | 9,026 | | Deferred compensation plan assets | 9,045 | 7,560 | | Restricted cash | 4,650 | 7,361 | | Prepaid land lease | 3,209 | 3,185 | | Prepaid rent | 1,377 | 2,658 | | Other | 1,394 | 3,420 | | Other assets | $191,265 | $216,529 | acquired rights to use technology purchased during fiscal 2009 and fiscal 2008 was $ 6.0 million and $ 100.4 million , respectively . of the cost for fiscal 2008 , an estimated $ 56.4 million was related to future licensing rights and has been capitalized and is being amortized on a straight-line basis over the estimated useful lives up to fifteen years . of the remaining costs for fiscal 2008 , we estimated that $ 27.2 million was related to historical use of licensing rights which was expensed as cost of sales and the residual of $ 16.8 million for fiscal 2008 was expensed as general and administrative costs . in connection with these licensing arrangements , we have the ability to acquire additional rights to use technology in the future . see note 17 for further information regarding our contractual commitments . in general , acquired rights to use technology are amortized over their estimated useful lives of 3 to 15 years . included in investments are our indirect investments through our limited partnership interest in adobe ventures of approximately $ 37.1 million and $ 39.0 million as of november 27 , 2009 and november 28 , 2008 , respectively , which is consolidated in accordance with the provisions for consolidating variable interest entities . the partnership is controlled by granite ventures , an independent venture capital firm and sole general partner of adobe ventures . we are the primary beneficiary of adobe ventures and bear virtually all of the risks and rewards related to our ownership . our investment in adobe ventures does not have a significant impact on our consolidated financial position , results of operations or cash flows . adobe ventures carries its investments in equity securities at estimated fair value and investment gains and losses are included in our consolidated statements of income . substantially all of the investments held by adobe ventures at november 27 , 2009 and november 28 , 2008 are not publicly traded and , therefore , there is no established market for these securities . in order to determine the fair value of these investments , we use the most recent round of financing involving new non-strategic investors or estimates of current market value made by granite ventures . it is our policy to evaluate the fair value of these investments held by adobe ventures , as well as our direct investments , on a regular basis . this evaluation includes , but is not limited to , reviewing each company 2019s cash position , financing needs , earnings and revenue outlook , operational performance , management and ownership changes and competition . in the case of privately-held companies , this evaluation is based on information that we request from these companies . this information is not subject to the same disclosure regulations as u.s . publicly traded companies and as such , the basis for these evaluations is subject to the timing and the accuracy of the data received from these companies . see note 4 for further information regarding adobe ventures . also included in investments are our direct investments in privately-held companies of approximately $ 26.4 million and $ 37.6 million as of november 27 , 2009 and november 28 , 2008 , respectively , which are accounted for based on the cost method . we assess these investments for impairment in value as circumstances dictate . see note 4 for further information regarding our cost method investments . we entered into a purchase and sale agreement , effective may 12 , 2008 , for the acquisition of real property located in waltham , massachusetts . we purchased the property upon completion of construction of an office building shell and core , parking structure , and site improvements . the purchase price for the property was $ 44.7 million and closed on june 16 , 2009 . we made an initial deposit of $ 7.0 million which was included in security and other deposits as of november 28 , 2008 and the remaining balance was paid at closing . this deposit was held in escrow until closing and then applied to the purchase price. .

string

prepaid_rent_used = 1377 - 2658 answer = prepaid_rent_used