Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.


through the certegy merger , the company has an obligation to service $ 200 million ( aggregate principal amount ) of unsecured 4.75% ( 4.75 % ) fixed-rate notes due in 2008 . the notes were recorded in purchase accounting at a discount of $ 5.7 million , which is being amortized over the term of the notes . the notes accrue interest at a rate of 4.75% ( 4.75 % ) per year , payable semi-annually in arrears on each march 15 and september 15 . on april 11 , 2005 , fis entered into interest rate swap agreements which have effectively fixed the interest rate at approximately 5.4% ( 5.4 % ) through april 2008 on $ 350 million of the term loan facilities ( or its replacement debt ) and at approximately 5.2% ( 5.2 % ) through april 2007 on an additional $ 350 million of the term loan . the company has designated these interest rate swaps as cash flow hedges in accordance with sfas no . 133 . the estimated fair value of the cash flow hedges results in an asset to the company of $ 4.9 million and $ 5.2 million , as of december 31 , 2006 and december 31 , 2005 , respectively , which is included in the accompanying consolidated balance sheets in other noncurrent assets and as a component of accumulated other comprehensive earnings , net of deferred taxes . a portion of the amount included in accumulated other comprehensive earnings is reclassified into interest expense as a yield adjustment as interest payments are made on the term loan facilities . the company 2019s existing cash flow hedges are highly effective and there is no current impact on earnings due to hedge ineffectiveness . it is the policy of the company to execute such instruments with credit-worthy banks and not to enter into derivative financial instruments for speculative purposes . principal maturities at december 31 , 2006 ( and at december 31 , 2006 after giving effect to the debt refinancing completed on january 18 , 2007 ) for the next five years and thereafter are as follows ( in thousands ) : december 31 , january 18 , 2007 refinancing . <table class='wikitable'><tr><td>1</td><td>-</td><td>december 31 2006</td><td>january 18 2007 refinancing</td></tr><tr><td>2</td><td>2007</td><td>$ 61661</td><td>$ 96161</td></tr><tr><td>3</td><td>2008</td><td>257541</td><td>282041</td></tr><tr><td>4</td><td>2009</td><td>68129</td><td>145129</td></tr><tr><td>5</td><td>2010</td><td>33586</td><td>215586</td></tr><tr><td>6</td><td>2011</td><td>941875</td><td>165455</td></tr><tr><td>7</td><td>thereafter</td><td>1646709</td><td>2105129</td></tr><tr><td>8</td><td>total</td><td>$ 3009501</td><td>$ 3009501</td></tr></table> fidelity national information services , inc . and subsidiaries and affiliates consolidated and combined financial statements notes to consolidated and combined financial statements 2014 ( continued ) .
Question: what was the fair value of cash flow hedges in 2006?
Answer: 4.9
Question: what was the fair value of cash flow hedges in 2005?
Answer: 5.2
Question: what is the net difference?
Answer: -0.3
Question: what is the percent change?

-0.05769