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.


item 6 . selected financial data the following table represents our selected financial data . the table should be read in conjunction with item 7 and item 8 of this report . the table below reflects immaterial error corrections discussed in note 2 : summary of significant accounting policies in item 8. . <table class='wikitable'><tr><td>1</td><td>( $ in millions except per share amounts )</td><td>year ended december 31 2012</td><td>year ended december 31 2011</td><td>year ended december 31 2010</td><td>year ended december 31 2009</td><td>year ended december 31 2008</td></tr><tr><td>2</td><td>sales and service revenues</td><td>$ 6708</td><td>$ 6575</td><td>$ 6723</td><td>$ 6292</td><td>$ 6189</td></tr><tr><td>3</td><td>goodwill impairment</td><td>2014</td><td>290</td><td>2014</td><td>2014</td><td>2465</td></tr><tr><td>4</td><td>operating income ( loss )</td><td>358</td><td>100</td><td>241</td><td>203</td><td>-2332 ( 2332 )</td></tr><tr><td>5</td><td>net earnings ( loss )</td><td>146</td><td>-100 ( 100 )</td><td>131</td><td>119</td><td>-2397 ( 2397 )</td></tr><tr><td>6</td><td>total assets</td><td>6392</td><td>6069</td><td>5270</td><td>5097</td><td>4821</td></tr><tr><td>7</td><td>long-term debt ( 1 )</td><td>1779</td><td>1830</td><td>105</td><td>283</td><td>283</td></tr><tr><td>8</td><td>total long-term obligations</td><td>4341</td><td>3838</td><td>1637</td><td>1708</td><td>1823</td></tr><tr><td>9</td><td>free cash flow ( 2 )</td><td>170</td><td>331</td><td>168</td><td>-269 ( 269 )</td><td>121</td></tr><tr><td>10</td><td>dividends declared per share</td><td>$ 0.10</td><td>$ 2014</td><td>$ 2014</td><td>$ 2014</td><td>$ 2014</td></tr><tr><td>11</td><td>basic earnings ( loss ) per share ( 3 )</td><td>$ 2.96</td><td>$ -2.05 ( 2.05 )</td><td>$ 2.68</td><td>$ 2.44</td><td>$ -49.14 ( 49.14 )</td></tr><tr><td>12</td><td>diluted earnings ( loss ) per share ( 3 )</td><td>$ 2.91</td><td>$ -2.05 ( 2.05 )</td><td>$ 2.68</td><td>$ 2.44</td><td>$ -49.14 ( 49.14 )</td></tr></table> basic earnings ( loss ) per share ( 3 ) $ 2.96 $ ( 2.05 ) $ 2.68 $ 2.44 $ ( 49.14 ) diluted earnings ( loss ) per share ( 3 ) $ 2.91 $ ( 2.05 ) $ 2.68 $ 2.44 $ ( 49.14 ) ( 1 ) long-term debt does not include amounts payable to our former parent as of and before december 31 , 2010 , as these amounts were due upon demand and included in current liabilities . ( 2 ) free cash flow is a non-gaap financial measure and represents cash from operating activities less capital expenditures . see liquidity and capital resources in item 7 for more information on this measure . ( 3 ) on march 30 , 2011 , the record date of the stock distribution associated with the spin-off from northrop grumman , approximately 48.8 million shares of $ 0.01 par value hii common stock were distributed to northrop grumman stockholders . this share amount was utilized for the calculation of basic and diluted earnings ( loss ) per share for the three months ended march 31 , 2011 , and all prior periods , as no common stock of the company existed prior to march 30 , 2011 , and the impact of dilutive securities in the three month period ended march 31 , 2011 , was not meaningful. .
Question: what is the net change in value of total assets from 2008 to 2012?

1571.0