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Weights and Biases 59

if there were no loan sales in 2010 , what would the total amount of reserves available be , in millions , combined in 2010 and 2011 .

Background: ['recourse and repurchase obligations as discussed in note 3 loans sale and servicing activities and variable interest entities , pnc has sold commercial mortgage and residential mortgage loans directly or indirectly in securitizations and whole-loan sale transactions with continuing involvement .', 'one form of continuing involvement includes certain recourse and loan repurchase obligations associated with the transferred assets in these transactions .', 'commercial mortgage loan recourse obligations we originate , close and service certain multi-family commercial mortgage loans which are sold to fnma under fnma 2019s dus program .', 'we participated in a similar program with the fhlmc .', 'under these programs , we generally assume up to a one-third pari passu risk of loss on unpaid principal balances through a loss share arrangement .', 'at december 31 , 2011 and december 31 , 2010 , the unpaid principal balance outstanding of loans sold as a participant in these programs was $ 13.0 billion and $ 13.2 billion , respectively .', 'the potential maximum exposure under the loss share arrangements was $ 4.0 billion at both december 31 , 2011 and december 31 , 2010 .', 'we maintain a reserve for estimated losses based upon our exposure .', 'the reserve for losses under these programs totaled $ 47 million and $ 54 million as of december 31 , 2011 and december 31 , 2010 , respectively , and is included in other liabilities on our consolidated balance sheet .', 'if payment is required under these programs , we would not have a contractual interest in the collateral underlying the mortgage loans on which losses occurred , although the value of the collateral is taken into account in determining our share of such losses .', 'our exposure and activity associated with these recourse obligations are reported in the corporate & institutional banking segment .', 'analysis of commercial mortgage recourse obligations .'] Tabular Data: ---------------------------------------- • in millions, 2011, 2010 • january 1, $ 54, $ 71 • reserve adjustments net, 1, 9 • losses 2013 loan repurchases and settlements, -8 ( 8 ), -2 ( 2 ) • loan sales, , -24 ( 24 ) • december 31, $ 47, $ 54 ---------------------------------------- Post-table: ['residential mortgage loan and home equity repurchase obligations while residential mortgage loans are sold on a non-recourse basis , we assume certain loan repurchase obligations associated with mortgage loans we have sold to investors .', 'these loan repurchase obligations primarily relate to situations where pnc is alleged to have breached certain origination covenants and representations and warranties made to purchasers of the loans in the respective purchase and sale agreements .', 'residential mortgage loans covered by these loan repurchase obligations include first and second-lien mortgage loans we have sold through agency securitizations , non-agency securitizations , and whole-loan sale transactions .', 'as discussed in note 3 in this report , agency securitizations consist of mortgage loans sale transactions with fnma , fhlmc , and gnma , while non-agency securitizations and whole-loan sale transactions consist of mortgage loans sale transactions with private investors .', 'our historical exposure and activity associated with agency securitization repurchase obligations has primarily been related to transactions with fnma and fhlmc , as indemnification and repurchase losses associated with fha and va-insured and uninsured loans pooled in gnma securitizations historically have been minimal .', 'repurchase obligation activity associated with residential mortgages is reported in the residential mortgage banking segment .', 'pnc 2019s repurchase obligations also include certain brokered home equity loans/lines that were sold to a limited number of private investors in the financial services industry by national city prior to our acquisition .', 'pnc is no longer engaged in the brokered home equity lending business , and our exposure under these loan repurchase obligations is limited to repurchases of whole-loans sold in these transactions .', 'repurchase activity associated with brokered home equity loans/lines is reported in the non-strategic assets portfolio segment .', 'loan covenants and representations and warranties are established through loan sale agreements with various investors to provide assurance that pnc has sold loans to investors of sufficient investment quality .', 'key aspects of such covenants and representations and warranties include the loan 2019s compliance with any applicable loan criteria established by the investor , including underwriting standards , delivery of all required loan documents to the investor or its designated party , sufficient collateral valuation , and the validity of the lien securing the loan .', 'as a result of alleged breaches of these contractual obligations , investors may request pnc to indemnify them against losses on certain loans or to repurchase loans .', 'these investor indemnification or repurchase claims are typically settled on an individual loan basis through make- whole payments or loan repurchases ; however , on occasion we may negotiate pooled settlements with investors .', 'indemnifications for loss or loan repurchases typically occur when , after review of the claim , we agree insufficient evidence exists to dispute the investor 2019s claim that a breach of a loan covenant and representation and warranty has occurred , such breach has not been cured , and the effect of such breach is deemed to have had a material and adverse effect on the value of the transferred loan .', 'depending on the sale agreement and upon proper notice from the investor , we typically respond to such indemnification and repurchase requests within 60 days , although final resolution of the claim may take a longer period of time .', 'with the exception of the sales the pnc financial services group , inc .', '2013 form 10-k 199 .']

125.0

PNC/2011/page_208.pdf-3

['recourse and repurchase obligations as discussed in note 3 loans sale and servicing activities and variable interest entities , pnc has sold commercial mortgage and residential mortgage loans directly or indirectly in securitizations and whole-loan sale transactions with continuing involvement .', 'one form of continuing involvement includes certain recourse and loan repurchase obligations associated with the transferred assets in these transactions .', 'commercial mortgage loan recourse obligations we originate , close and service certain multi-family commercial mortgage loans which are sold to fnma under fnma 2019s dus program .', 'we participated in a similar program with the fhlmc .', 'under these programs , we generally assume up to a one-third pari passu risk of loss on unpaid principal balances through a loss share arrangement .', 'at december 31 , 2011 and december 31 , 2010 , the unpaid principal balance outstanding of loans sold as a participant in these programs was $ 13.0 billion and $ 13.2 billion , respectively .', 'the potential maximum exposure under the loss share arrangements was $ 4.0 billion at both december 31 , 2011 and december 31 , 2010 .', 'we maintain a reserve for estimated losses based upon our exposure .', 'the reserve for losses under these programs totaled $ 47 million and $ 54 million as of december 31 , 2011 and december 31 , 2010 , respectively , and is included in other liabilities on our consolidated balance sheet .', 'if payment is required under these programs , we would not have a contractual interest in the collateral underlying the mortgage loans on which losses occurred , although the value of the collateral is taken into account in determining our share of such losses .', 'our exposure and activity associated with these recourse obligations are reported in the corporate & institutional banking segment .', 'analysis of commercial mortgage recourse obligations .']

['residential mortgage loan and home equity repurchase obligations while residential mortgage loans are sold on a non-recourse basis , we assume certain loan repurchase obligations associated with mortgage loans we have sold to investors .', 'these loan repurchase obligations primarily relate to situations where pnc is alleged to have breached certain origination covenants and representations and warranties made to purchasers of the loans in the respective purchase and sale agreements .', 'residential mortgage loans covered by these loan repurchase obligations include first and second-lien mortgage loans we have sold through agency securitizations , non-agency securitizations , and whole-loan sale transactions .', 'as discussed in note 3 in this report , agency securitizations consist of mortgage loans sale transactions with fnma , fhlmc , and gnma , while non-agency securitizations and whole-loan sale transactions consist of mortgage loans sale transactions with private investors .', 'our historical exposure and activity associated with agency securitization repurchase obligations has primarily been related to transactions with fnma and fhlmc , as indemnification and repurchase losses associated with fha and va-insured and uninsured loans pooled in gnma securitizations historically have been minimal .', 'repurchase obligation activity associated with residential mortgages is reported in the residential mortgage banking segment .', 'pnc 2019s repurchase obligations also include certain brokered home equity loans/lines that were sold to a limited number of private investors in the financial services industry by national city prior to our acquisition .', 'pnc is no longer engaged in the brokered home equity lending business , and our exposure under these loan repurchase obligations is limited to repurchases of whole-loans sold in these transactions .', 'repurchase activity associated with brokered home equity loans/lines is reported in the non-strategic assets portfolio segment .', 'loan covenants and representations and warranties are established through loan sale agreements with various investors to provide assurance that pnc has sold loans to investors of sufficient investment quality .', 'key aspects of such covenants and representations and warranties include the loan 2019s compliance with any applicable loan criteria established by the investor , including underwriting standards , delivery of all required loan documents to the investor or its designated party , sufficient collateral valuation , and the validity of the lien securing the loan .', 'as a result of alleged breaches of these contractual obligations , investors may request pnc to indemnify them against losses on certain loans or to repurchase loans .', 'these investor indemnification or repurchase claims are typically settled on an individual loan basis through make- whole payments or loan repurchases ; however , on occasion we may negotiate pooled settlements with investors .', 'indemnifications for loss or loan repurchases typically occur when , after review of the claim , we agree insufficient evidence exists to dispute the investor 2019s claim that a breach of a loan covenant and representation and warranty has occurred , such breach has not been cured , and the effect of such breach is deemed to have had a material and adverse effect on the value of the transferred loan .', 'depending on the sale agreement and upon proper notice from the investor , we typically respond to such indemnification and repurchase requests within 60 days , although final resolution of the claim may take a longer period of time .', 'with the exception of the sales the pnc financial services group , inc .', '2013 form 10-k 199 .']

---------------------------------------- • in millions, 2011, 2010 • january 1, $ 54, $ 71 • reserve adjustments net, 1, 9 • losses 2013 loan repurchases and settlements, -8 ( 8 ), -2 ( 2 ) • loan sales, , -24 ( 24 ) • december 31, $ 47, $ 54 ----------------------------------------

add(47, 54), add(#0, 24)

125.0

based on the review of the changes in the warranty reserve what was the percentage change in the year end balance in 2009

Context: ['investments prior to our acquisition of keystone on october 12 , 2007 , we held common shares of keystone , which were classified as an available-for-sale investment security .', 'accordingly , the investment was included in other assets at its fair value , with the unrealized gain excluded from earnings and included in accumulated other comprehensive income , net of applicable taxes .', 'upon our acquisition of keystone on october 12 , 2007 , the unrealized gain was removed from accumulated other comprehensive income , net of applicable taxes , and the original cost of the common shares was considered a component of the purchase price .', 'fair value of financial instruments our debt is reflected on the balance sheet at cost .', 'based on current market conditions , our interest rate margins are below the rate available in the market , which causes the fair value of our debt to fall below the carrying value .', 'the fair value of our term loans ( see note 6 , 201clong-term obligations 201d ) is approximately $ 570 million at december 31 , 2009 , as compared to the carrying value of $ 596 million .', 'we estimated the fair value of our term loans by calculating the upfront cash payment a market participant would require to assume our obligations .', 'the upfront cash payment , excluding any issuance costs , is the amount that a market participant would be able to lend at december 31 , 2009 to an entity with a credit rating similar to ours and achieve sufficient cash inflows to cover the scheduled cash outflows under our term loans .', 'the carrying amounts of our cash and equivalents , net trade receivables and accounts payable approximate fair value .', 'we apply the market approach to value our financial assets and liabilities , which include the cash surrender value of life insurance , deferred compensation liabilities and interest rate swaps .', 'the market approach utilizes available market information to estimate fair value .', 'required fair value disclosures are included in note 8 , 201cfair value measurements . 201d accrued expenses we self-insure a portion of employee medical benefits under the terms of our employee health insurance program .', 'we purchase certain stop-loss insurance to limit our liability exposure .', 'we also self-insure a portion of our property and casualty risk , which includes automobile liability , general liability , workers 2019 compensation and property under deductible insurance programs .', 'the insurance premium costs are expensed over the contract periods .', 'a reserve for liabilities associated with these losses is established for claims filed and claims incurred but not yet reported based upon our estimate of ultimate cost , which is calculated using analyses of historical data .', 'we monitor new claims and claim development as well as trends related to the claims incurred but not reported in order to assess the adequacy of our insurance reserves .', 'self-insurance reserves on the consolidated balance sheets are net of claims deposits of $ 0.7 million and $ 0.8 million , at december 31 , 2009 and 2008 , respectively .', 'while we do not expect the amounts ultimately paid to differ significantly from our estimates , our insurance reserves and corresponding expenses could be affected if future claim experience differs significantly from historical trends and assumptions .', 'product warranties some of our mechanical products are sold with a standard six-month warranty against defects .', 'we record the estimated warranty costs at the time of sale using historical warranty claim information to project future warranty claims activity and related expenses .', 'the changes in the warranty reserve are as follows ( in thousands ) : .'] -- Table: **************************************** balance as of january 1 2008 | $ 580 ----------|---------- warranty expense | 3681 warranty claims | -3721 ( 3721 ) balance as of december 31 2008 | 540 warranty expense | 5033 warranty claims | -4969 ( 4969 ) balance as of december 31 2009 | $ 604 **************************************** -- Follow-up: ['.']

0.11852

LKQ/2009/page_66.pdf-4

['investments prior to our acquisition of keystone on october 12 , 2007 , we held common shares of keystone , which were classified as an available-for-sale investment security .', 'accordingly , the investment was included in other assets at its fair value , with the unrealized gain excluded from earnings and included in accumulated other comprehensive income , net of applicable taxes .', 'upon our acquisition of keystone on october 12 , 2007 , the unrealized gain was removed from accumulated other comprehensive income , net of applicable taxes , and the original cost of the common shares was considered a component of the purchase price .', 'fair value of financial instruments our debt is reflected on the balance sheet at cost .', 'based on current market conditions , our interest rate margins are below the rate available in the market , which causes the fair value of our debt to fall below the carrying value .', 'the fair value of our term loans ( see note 6 , 201clong-term obligations 201d ) is approximately $ 570 million at december 31 , 2009 , as compared to the carrying value of $ 596 million .', 'we estimated the fair value of our term loans by calculating the upfront cash payment a market participant would require to assume our obligations .', 'the upfront cash payment , excluding any issuance costs , is the amount that a market participant would be able to lend at december 31 , 2009 to an entity with a credit rating similar to ours and achieve sufficient cash inflows to cover the scheduled cash outflows under our term loans .', 'the carrying amounts of our cash and equivalents , net trade receivables and accounts payable approximate fair value .', 'we apply the market approach to value our financial assets and liabilities , which include the cash surrender value of life insurance , deferred compensation liabilities and interest rate swaps .', 'the market approach utilizes available market information to estimate fair value .', 'required fair value disclosures are included in note 8 , 201cfair value measurements . 201d accrued expenses we self-insure a portion of employee medical benefits under the terms of our employee health insurance program .', 'we purchase certain stop-loss insurance to limit our liability exposure .', 'we also self-insure a portion of our property and casualty risk , which includes automobile liability , general liability , workers 2019 compensation and property under deductible insurance programs .', 'the insurance premium costs are expensed over the contract periods .', 'a reserve for liabilities associated with these losses is established for claims filed and claims incurred but not yet reported based upon our estimate of ultimate cost , which is calculated using analyses of historical data .', 'we monitor new claims and claim development as well as trends related to the claims incurred but not reported in order to assess the adequacy of our insurance reserves .', 'self-insurance reserves on the consolidated balance sheets are net of claims deposits of $ 0.7 million and $ 0.8 million , at december 31 , 2009 and 2008 , respectively .', 'while we do not expect the amounts ultimately paid to differ significantly from our estimates , our insurance reserves and corresponding expenses could be affected if future claim experience differs significantly from historical trends and assumptions .', 'product warranties some of our mechanical products are sold with a standard six-month warranty against defects .', 'we record the estimated warranty costs at the time of sale using historical warranty claim information to project future warranty claims activity and related expenses .', 'the changes in the warranty reserve are as follows ( in thousands ) : .']

['.']

**************************************** balance as of january 1 2008 | $ 580 ----------|---------- warranty expense | 3681 warranty claims | -3721 ( 3721 ) balance as of december 31 2008 | 540 warranty expense | 5033 warranty claims | -4969 ( 4969 ) balance as of december 31 2009 | $ 604 ****************************************

subtract(604, 540), divide(#0, 540)

0.11852

of total repurchases in october to december 2018 , what percentage of shares purchased were part of publicly announced plans or programs?

Pre-text: ['table of content part ii item 5 .', "market for the registrant's common equity , related stockholder matters and issuer purchases of equity securities our common stock is traded on the new york stock exchange under the trading symbol 201chfc . 201d in september 2018 , our board of directors approved a $ 1 billion share repurchase program , which replaced all existing share repurchase programs , authorizing us to repurchase common stock in the open market or through privately negotiated transactions .", 'the timing and amount of stock repurchases will depend on market conditions and corporate , regulatory and other relevant considerations .', 'this program may be discontinued at any time by the board of directors .', 'the following table includes repurchases made under this program during the fourth quarter of 2018 .', 'period total number of shares purchased average price paid per share total number of shares purchased as part of publicly announced plans or programs maximum dollar value of shares that may yet be purchased under the plans or programs .'] ###### Data Table: • period, total number ofshares purchased, average pricepaid per share, total number ofshares purchasedas part of publicly announced plans or programs, maximum dollarvalue of sharesthat may yet bepurchased under the plans or programs • october 2018, 1360987, $ 66.34, 1360987, $ 859039458 • november 2018, 450000, $ 61.36, 450000, $ 831427985 • december 2018, 912360, $ 53.93, 810000, $ 787613605 • total for october to december 2018, 2723347, , 2620987, ###### Additional Information: ['during the quarter ended december 31 , 2018 , 102360 shares were withheld from certain executives and employees under the terms of our share-based compensation agreements to provide funds for the payment of payroll and income taxes due at vesting of restricted stock awards .', 'as of february 13 , 2019 , we had approximately 97419 stockholders , including beneficial owners holding shares in street name .', 'we intend to consider the declaration of a dividend on a quarterly basis , although there is no assurance as to future dividends since they are dependent upon future earnings , capital requirements , our financial condition and other factors. .']

0.96241

HFC/2018/page_43.pdf-2

['table of content part ii item 5 .', "market for the registrant's common equity , related stockholder matters and issuer purchases of equity securities our common stock is traded on the new york stock exchange under the trading symbol 201chfc . 201d in september 2018 , our board of directors approved a $ 1 billion share repurchase program , which replaced all existing share repurchase programs , authorizing us to repurchase common stock in the open market or through privately negotiated transactions .", 'the timing and amount of stock repurchases will depend on market conditions and corporate , regulatory and other relevant considerations .', 'this program may be discontinued at any time by the board of directors .', 'the following table includes repurchases made under this program during the fourth quarter of 2018 .', 'period total number of shares purchased average price paid per share total number of shares purchased as part of publicly announced plans or programs maximum dollar value of shares that may yet be purchased under the plans or programs .']

['during the quarter ended december 31 , 2018 , 102360 shares were withheld from certain executives and employees under the terms of our share-based compensation agreements to provide funds for the payment of payroll and income taxes due at vesting of restricted stock awards .', 'as of february 13 , 2019 , we had approximately 97419 stockholders , including beneficial owners holding shares in street name .', 'we intend to consider the declaration of a dividend on a quarterly basis , although there is no assurance as to future dividends since they are dependent upon future earnings , capital requirements , our financial condition and other factors. .']

• period, total number ofshares purchased, average pricepaid per share, total number ofshares purchasedas part of publicly announced plans or programs, maximum dollarvalue of sharesthat may yet bepurchased under the plans or programs • october 2018, 1360987, $ 66.34, 1360987, $ 859039458 • november 2018, 450000, $ 61.36, 450000, $ 831427985 • december 2018, 912360, $ 53.93, 810000, $ 787613605 • total for october to december 2018, 2723347, , 2620987,

divide(2620987, 2723347)

0.96241

what is the growth rate in total fee revenue in 2001?

Pre-text: ['an average of 7.1 in 2000 .', 'the top 100 largest clients used an average of 11.3 products in 2001 , up from an average of 11.2 in 2000 .', 'state street benefits significantly from its ability to derive revenue from the transaction flows of clients .', 'this occurs through the management of cash positions , including deposit balances and other short-term investment activities , using state street 2019s balance sheet capacity .', 'significant foreign currency transaction volumes provide potential for foreign exchange trading revenue as well .', 'fee revenue total operating fee revenuewas $ 2.8 billion in 2001 , compared to $ 2.7 billion in 2000 , an increase of 6% ( 6 % ) .', 'adjusted for the formation of citistreet , the growth in fee revenue was 8% ( 8 % ) .', 'growth in servicing fees of $ 199million , or 14% ( 14 % ) , was the primary contributor to the increase in fee revenue .', 'this growth primarily reflects several large client wins installed starting in the latter half of 2000 and continuing throughout 2001 , and strength in fee revenue from securities lending .', 'declines in equity market values worldwide offset some of the growth in servicing fees .', 'management fees were down 5% ( 5 % ) , adjusted for the formation of citistreet , reflecting the decline in theworldwide equitymarkets .', 'foreign exchange trading revenue was down 5% ( 5 % ) , reflecting lower currency volatility , and processing fees and other revenue was up 21% ( 21 % ) , primarily due to gains on the sales of investment securities .', 'servicing and management fees are a function of several factors , including the mix and volume of assets under custody and assets under management , securities positions held , and portfolio transactions , as well as types of products and services used by clients .', 'state street estimates , based on a study conducted in 2000 , that a 10% ( 10 % ) increase or decrease in worldwide equity values would cause a corresponding change in state street 2019s total revenue of approximately 2% ( 2 % ) .', 'if bond values were to increase or decrease by 10% ( 10 % ) , state street would anticipate a corresponding change of approximately 1% ( 1 % ) in its total revenue .', 'securities lending revenue in 2001 increased approximately 40% ( 40 % ) over 2000 .', 'securities lending revenue is reflected in both servicing fees and management fees .', 'securities lending revenue is a function of the volume of securities lent and interest rate spreads .', 'while volumes increased in 2001 , the year-over-year increase is primarily due to wider interest rate spreads resulting from the unusual occurrence of eleven reductions in the u.s .', 'federal funds target rate during 2001 .', 'f e e r e v e n u e ( dollars in millions ) 2001 ( 1 ) 2000 1999 ( 2 ) change adjusted change 00-01 ( 3 ) .'] ## Tabular Data: **************************************** ( dollars in millions ) | 2001 ( 1 ) | 2000 | 1999 ( 2 ) | change 00-01 | adjusted change 00-01 ( 3 ) ----------|----------|----------|----------|----------|---------- servicing fees | $ 1624 | $ 1425 | $ 1170 | 14% ( 14 % ) | 14% ( 14 % ) management fees | 511 | 581 | 600 | -12 ( 12 ) | -5 ( 5 ) foreign exchange trading | 368 | 387 | 306 | -5 ( 5 ) | -5 ( 5 ) processing fees and other | 329 | 272 | 236 | 21 | 21 total fee revenue | $ 2832 | $ 2665 | $ 2312 | 6 | 8 **************************************** ## Post-table: ['( 1 ) 2001 results exclude the write-off of state street 2019s total investment in bridge of $ 50 million ( 2 ) 1999 results exclude the one-time charge of $ 57 million related to the repositioning of the investment portfolio ( 3 ) 2000 results adjusted for the formation of citistreet 4 state street corporation .']

0.06266

STT/2001/page_36.pdf-2

['an average of 7.1 in 2000 .', 'the top 100 largest clients used an average of 11.3 products in 2001 , up from an average of 11.2 in 2000 .', 'state street benefits significantly from its ability to derive revenue from the transaction flows of clients .', 'this occurs through the management of cash positions , including deposit balances and other short-term investment activities , using state street 2019s balance sheet capacity .', 'significant foreign currency transaction volumes provide potential for foreign exchange trading revenue as well .', 'fee revenue total operating fee revenuewas $ 2.8 billion in 2001 , compared to $ 2.7 billion in 2000 , an increase of 6% ( 6 % ) .', 'adjusted for the formation of citistreet , the growth in fee revenue was 8% ( 8 % ) .', 'growth in servicing fees of $ 199million , or 14% ( 14 % ) , was the primary contributor to the increase in fee revenue .', 'this growth primarily reflects several large client wins installed starting in the latter half of 2000 and continuing throughout 2001 , and strength in fee revenue from securities lending .', 'declines in equity market values worldwide offset some of the growth in servicing fees .', 'management fees were down 5% ( 5 % ) , adjusted for the formation of citistreet , reflecting the decline in theworldwide equitymarkets .', 'foreign exchange trading revenue was down 5% ( 5 % ) , reflecting lower currency volatility , and processing fees and other revenue was up 21% ( 21 % ) , primarily due to gains on the sales of investment securities .', 'servicing and management fees are a function of several factors , including the mix and volume of assets under custody and assets under management , securities positions held , and portfolio transactions , as well as types of products and services used by clients .', 'state street estimates , based on a study conducted in 2000 , that a 10% ( 10 % ) increase or decrease in worldwide equity values would cause a corresponding change in state street 2019s total revenue of approximately 2% ( 2 % ) .', 'if bond values were to increase or decrease by 10% ( 10 % ) , state street would anticipate a corresponding change of approximately 1% ( 1 % ) in its total revenue .', 'securities lending revenue in 2001 increased approximately 40% ( 40 % ) over 2000 .', 'securities lending revenue is reflected in both servicing fees and management fees .', 'securities lending revenue is a function of the volume of securities lent and interest rate spreads .', 'while volumes increased in 2001 , the year-over-year increase is primarily due to wider interest rate spreads resulting from the unusual occurrence of eleven reductions in the u.s .', 'federal funds target rate during 2001 .', 'f e e r e v e n u e ( dollars in millions ) 2001 ( 1 ) 2000 1999 ( 2 ) change adjusted change 00-01 ( 3 ) .']

['( 1 ) 2001 results exclude the write-off of state street 2019s total investment in bridge of $ 50 million ( 2 ) 1999 results exclude the one-time charge of $ 57 million related to the repositioning of the investment portfolio ( 3 ) 2000 results adjusted for the formation of citistreet 4 state street corporation .']

**************************************** ( dollars in millions ) | 2001 ( 1 ) | 2000 | 1999 ( 2 ) | change 00-01 | adjusted change 00-01 ( 3 ) ----------|----------|----------|----------|----------|---------- servicing fees | $ 1624 | $ 1425 | $ 1170 | 14% ( 14 % ) | 14% ( 14 % ) management fees | 511 | 581 | 600 | -12 ( 12 ) | -5 ( 5 ) foreign exchange trading | 368 | 387 | 306 | -5 ( 5 ) | -5 ( 5 ) processing fees and other | 329 | 272 | 236 | 21 | 21 total fee revenue | $ 2832 | $ 2665 | $ 2312 | 6 | 8 ****************************************

subtract(2832, 2665), divide(#0, 2665)

0.06266

what was the three year average cash conversion cycle in days?

Pre-text: ['table of contents ( 4 ) the decline in cash flows was driven by the timing of inventory purchases at the end of 2014 versus 2013 .', 'in order to manage our working capital and operating cash needs , we monitor our cash conversion cycle , defined as days of sales outstanding in accounts receivable plus days of supply in inventory minus days of purchases outstanding in accounts payable , based on a rolling three-month average .', 'components of our cash conversion cycle are as follows: .'] ########## Tabular Data: ( in days ) | december 31 , 2015 | december 31 , 2014 | december 31 , 2013 days of sales outstanding ( dso ) ( 1 ) | 48 | 42 | 44 days of supply in inventory ( dio ) ( 2 ) | 13 | 13 | 14 days of purchases outstanding ( dpo ) ( 3 ) | -40 ( 40 ) | -34 ( 34 ) | -35 ( 35 ) cash conversion cycle | 21 | 21 | 23 ########## Follow-up: ['( 1 ) represents the rolling three-month average of the balance of trade accounts receivable , net at the end of the period divided by average daily net sales for the same three-month period .', 'also incorporates components of other miscellaneous receivables .', '( 2 ) represents the rolling three-month average of the balance of merchandise inventory at the end of the period divided by average daily cost of goods sold for the same three-month period .', '( 3 ) represents the rolling three-month average of the combined balance of accounts payable-trade , excluding cash overdrafts , and accounts payable-inventory financing at the end of the period divided by average daily cost of goods sold for the same three-month period .', 'the cash conversion cycle remained at 21 days at december 31 , 2015 and december 31 , 2014 .', 'the increase in dso was primarily driven by a higher accounts receivable balance at december 31 , 2015 driven by higher public segment sales where customers generally take longer to pay than customers in our corporate segment , slower government payments in certain states due to budget issues and an increase in net sales and related accounts receivable for third-party services such as software assurance and warranties .', 'these services have an unfavorable impact on dso as the receivable is recognized on the balance sheet on a gross basis while the corresponding sales amount in the statement of operations is recorded on a net basis .', 'these services have a favorable impact on dpo as the payable is recognized on the balance sheet without a corresponding cost of sale in the statement of operations because the cost paid to the vendor or third-party service provider is recorded as a reduction to net sales .', 'in addition to the impact of these services on dpo , dpo also increased due to the mix of payables with certain vendors that have longer payment terms .', 'the cash conversion cycle decreased to 21 days at december 31 , 2014 compared to 23 days at december 31 , 2013 , primarily driven by improvement in dso .', 'the decline in dso was primarily driven by improved collections and early payments from certain customers .', 'additionally , the timing of inventory receipts at the end of 2014 had a favorable impact on dio and an unfavorable impact on dpo .', 'investing activities net cash used in investing activities increased $ 189.6 million in 2015 compared to 2014 .', 'the increase was primarily due to the completion of the acquisition of kelway by purchasing the remaining 65% ( 65 % ) of its outstanding common stock on august 1 , 2015 .', 'additionally , capital expenditures increased $ 35.1 million to $ 90.1 million from $ 55.0 million for 2015 and 2014 , respectively , primarily for our new office location and an increase in spending related to improvements to our information technology systems .', 'net cash used in investing activities increased $ 117.7 million in 2014 compared to 2013 .', 'we paid $ 86.8 million in the fourth quarter of 2014 to acquire a 35% ( 35 % ) non-controlling interest in kelway .', 'additionally , capital expenditures increased $ 7.9 million to $ 55.0 million from $ 47.1 million in 2014 and 2013 , respectively , primarily for improvements to our information technology systems during both years .', 'financing activities net cash used in financing activities increased $ 114.5 million in 2015 compared to 2014 .', 'the increase was primarily driven by share repurchases during the year ended december 31 , 2015 which resulted in an increase in cash used for financing activities of $ 241.3 million .', 'for more information on our share repurchase program , see item 5 , 201cmarket for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities . 201d the increase was partially offset by the changes in accounts payable-inventory financing , which resulted in an increase in cash provided for financing activities of $ 20.4 million , and the net impact of our debt transactions which resulted in cash outflows of $ 7.1 million and $ 145.9 million during the years .']

21.66667

CDW/2015/page_53.pdf-4

['table of contents ( 4 ) the decline in cash flows was driven by the timing of inventory purchases at the end of 2014 versus 2013 .', 'in order to manage our working capital and operating cash needs , we monitor our cash conversion cycle , defined as days of sales outstanding in accounts receivable plus days of supply in inventory minus days of purchases outstanding in accounts payable , based on a rolling three-month average .', 'components of our cash conversion cycle are as follows: .']

['( 1 ) represents the rolling three-month average of the balance of trade accounts receivable , net at the end of the period divided by average daily net sales for the same three-month period .', 'also incorporates components of other miscellaneous receivables .', '( 2 ) represents the rolling three-month average of the balance of merchandise inventory at the end of the period divided by average daily cost of goods sold for the same three-month period .', '( 3 ) represents the rolling three-month average of the combined balance of accounts payable-trade , excluding cash overdrafts , and accounts payable-inventory financing at the end of the period divided by average daily cost of goods sold for the same three-month period .', 'the cash conversion cycle remained at 21 days at december 31 , 2015 and december 31 , 2014 .', 'the increase in dso was primarily driven by a higher accounts receivable balance at december 31 , 2015 driven by higher public segment sales where customers generally take longer to pay than customers in our corporate segment , slower government payments in certain states due to budget issues and an increase in net sales and related accounts receivable for third-party services such as software assurance and warranties .', 'these services have an unfavorable impact on dso as the receivable is recognized on the balance sheet on a gross basis while the corresponding sales amount in the statement of operations is recorded on a net basis .', 'these services have a favorable impact on dpo as the payable is recognized on the balance sheet without a corresponding cost of sale in the statement of operations because the cost paid to the vendor or third-party service provider is recorded as a reduction to net sales .', 'in addition to the impact of these services on dpo , dpo also increased due to the mix of payables with certain vendors that have longer payment terms .', 'the cash conversion cycle decreased to 21 days at december 31 , 2014 compared to 23 days at december 31 , 2013 , primarily driven by improvement in dso .', 'the decline in dso was primarily driven by improved collections and early payments from certain customers .', 'additionally , the timing of inventory receipts at the end of 2014 had a favorable impact on dio and an unfavorable impact on dpo .', 'investing activities net cash used in investing activities increased $ 189.6 million in 2015 compared to 2014 .', 'the increase was primarily due to the completion of the acquisition of kelway by purchasing the remaining 65% ( 65 % ) of its outstanding common stock on august 1 , 2015 .', 'additionally , capital expenditures increased $ 35.1 million to $ 90.1 million from $ 55.0 million for 2015 and 2014 , respectively , primarily for our new office location and an increase in spending related to improvements to our information technology systems .', 'net cash used in investing activities increased $ 117.7 million in 2014 compared to 2013 .', 'we paid $ 86.8 million in the fourth quarter of 2014 to acquire a 35% ( 35 % ) non-controlling interest in kelway .', 'additionally , capital expenditures increased $ 7.9 million to $ 55.0 million from $ 47.1 million in 2014 and 2013 , respectively , primarily for improvements to our information technology systems during both years .', 'financing activities net cash used in financing activities increased $ 114.5 million in 2015 compared to 2014 .', 'the increase was primarily driven by share repurchases during the year ended december 31 , 2015 which resulted in an increase in cash used for financing activities of $ 241.3 million .', 'for more information on our share repurchase program , see item 5 , 201cmarket for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities . 201d the increase was partially offset by the changes in accounts payable-inventory financing , which resulted in an increase in cash provided for financing activities of $ 20.4 million , and the net impact of our debt transactions which resulted in cash outflows of $ 7.1 million and $ 145.9 million during the years .']

( in days ) | december 31 , 2015 | december 31 , 2014 | december 31 , 2013 days of sales outstanding ( dso ) ( 1 ) | 48 | 42 | 44 days of supply in inventory ( dio ) ( 2 ) | 13 | 13 | 14 days of purchases outstanding ( dpo ) ( 3 ) | -40 ( 40 ) | -34 ( 34 ) | -35 ( 35 ) cash conversion cycle | 21 | 21 | 23

table_average(cash conversion cycle, none)

21.66667

what is the net change in the number of staff in 2015?

Context: ['the goldman sachs group , inc .', 'and subsidiaries management 2019s discussion and analysis non-interest revenues .', 'investment banking revenues in the consolidated statements of earnings were $ 7.03 billion for 2015 , 9% ( 9 % ) higher than 2014 , due to significantly higher revenues in financial advisory , reflecting strong client activity , particularly in the u.s .', 'industry-wide completed mergers and acquisitions increased significantly compared with the prior year .', 'revenues in underwriting were lower compared with a strong 2014 .', 'revenues in debt underwriting were lower compared with 2014 , reflecting significantly lower leveraged finance activity .', 'revenues in equity underwriting were also lower , reflecting significantly lower revenues from initial public offerings and convertible offerings , partially offset by significantly higher revenues from secondary offerings .', 'investment management revenues in the consolidated statements of earnings were $ 5.87 billion for 2015 , 2% ( 2 % ) higher than 2014 , due to slightly higher management and other fees , primarily reflecting higher average assets under supervision , and higher transaction revenues .', 'commissions and fees in the consolidated statements of earnings were $ 3.32 billion for 2015 , essentially unchanged compared with 2014 .', 'market-making revenues in the consolidated statements of earnings were $ 9.52 billion for 2015 , 14% ( 14 % ) higher than 2014 .', 'excluding a gain of $ 289 million in 2014 related to the extinguishment of certain of our junior subordinated debt , market-making revenues were 18% ( 18 % ) higher than 2014 , reflecting significantly higher revenues in interest rate products , currencies , equity cash products and equity derivatives .', 'these increases were partially offset by significantly lower revenues in mortgages , commodities and credit products .', 'other principal transactions revenues in the consolidated statements of earnings were $ 5.02 billion for 2015 , 24% ( 24 % ) lower than 2014 .', 'this decrease was primarily due to lower revenues from investments in equities , principally reflecting the sale of metro international trade services ( metro ) in the fourth quarter of 2014 and lower net gains from investments in private equities , driven by corporate performance .', 'in addition , revenues in debt securities and loans were significantly lower , reflecting lower net gains from investments .', 'net interest income .', 'net interest income in the consolidated statements of earnings was $ 3.06 billion for 2015 , 24% ( 24 % ) lower than 2014 .', 'the decrease compared with 2014 was due to lower interest income resulting from a reduction in interest income related to financial instruments owned , at fair value , partially offset by the impact of an increase in total average loans receivable .', 'the decrease in interest income was partially offset by a decrease in interest expense , which primarily reflected lower interest expense related to financial instruments sold , but not yet purchased , at fair value and other interest-bearing liabilities , partially offset by higher interest expense related to long-term borrowings .', 'see 201csupplemental financial information 2014 statistical disclosures 2014 distribution of assets , liabilities and shareholders 2019 equity 201d for further information about our sources of net interest income .', 'operating expenses our operating expenses are primarily influenced by compensation , headcount and levels of business activity .', 'compensation and benefits includes salaries , discretionary compensation , amortization of equity awards and other items such as benefits .', 'discretionary compensation is significantly impacted by , among other factors , the level of net revenues , overall financial performance , prevailing labor markets , business mix , the structure of our share- based compensation programs and the external environment .', 'in addition , see 201cuse of estimates 201d for additional information about expenses that may arise from litigation and regulatory proceedings .', 'in the context of the challenging environment during the first half of 2016 , we completed an initiative that identified areas where we can operate more efficiently , resulting in a reduction of approximately $ 900 million in annual run rate compensation .', 'for 2016 , net savings from this initiative , after severance and other related costs , were approximately $ 500 million .', 'the table below presents our operating expenses and total staff ( which includes employees , consultants and temporary staff ) . .'] Table: $ in millions | year ended december 2016 | year ended december 2015 | year ended december 2014 compensation and benefits | $ 11647 | $ 12678 | $ 12691 brokerage clearing exchange anddistribution fees | 2555 | 2576 | 2501 market development | 457 | 557 | 549 communications and technology | 809 | 806 | 779 depreciation and amortization | 998 | 991 | 1337 occupancy | 788 | 772 | 827 professional fees | 882 | 963 | 902 other expenses | 2168 | 5699 | 2585 total non-compensation expenses | 8657 | 12364 | 9480 total operating expenses | $ 20304 | $ 25042 | $ 22171 total staff at period-end | 34400 | 36800 | 34000 Additional Information: ['56 goldman sachs 2016 form 10-k .']

2800.0

GS/2016/page_70.pdf-2

['the goldman sachs group , inc .', 'and subsidiaries management 2019s discussion and analysis non-interest revenues .', 'investment banking revenues in the consolidated statements of earnings were $ 7.03 billion for 2015 , 9% ( 9 % ) higher than 2014 , due to significantly higher revenues in financial advisory , reflecting strong client activity , particularly in the u.s .', 'industry-wide completed mergers and acquisitions increased significantly compared with the prior year .', 'revenues in underwriting were lower compared with a strong 2014 .', 'revenues in debt underwriting were lower compared with 2014 , reflecting significantly lower leveraged finance activity .', 'revenues in equity underwriting were also lower , reflecting significantly lower revenues from initial public offerings and convertible offerings , partially offset by significantly higher revenues from secondary offerings .', 'investment management revenues in the consolidated statements of earnings were $ 5.87 billion for 2015 , 2% ( 2 % ) higher than 2014 , due to slightly higher management and other fees , primarily reflecting higher average assets under supervision , and higher transaction revenues .', 'commissions and fees in the consolidated statements of earnings were $ 3.32 billion for 2015 , essentially unchanged compared with 2014 .', 'market-making revenues in the consolidated statements of earnings were $ 9.52 billion for 2015 , 14% ( 14 % ) higher than 2014 .', 'excluding a gain of $ 289 million in 2014 related to the extinguishment of certain of our junior subordinated debt , market-making revenues were 18% ( 18 % ) higher than 2014 , reflecting significantly higher revenues in interest rate products , currencies , equity cash products and equity derivatives .', 'these increases were partially offset by significantly lower revenues in mortgages , commodities and credit products .', 'other principal transactions revenues in the consolidated statements of earnings were $ 5.02 billion for 2015 , 24% ( 24 % ) lower than 2014 .', 'this decrease was primarily due to lower revenues from investments in equities , principally reflecting the sale of metro international trade services ( metro ) in the fourth quarter of 2014 and lower net gains from investments in private equities , driven by corporate performance .', 'in addition , revenues in debt securities and loans were significantly lower , reflecting lower net gains from investments .', 'net interest income .', 'net interest income in the consolidated statements of earnings was $ 3.06 billion for 2015 , 24% ( 24 % ) lower than 2014 .', 'the decrease compared with 2014 was due to lower interest income resulting from a reduction in interest income related to financial instruments owned , at fair value , partially offset by the impact of an increase in total average loans receivable .', 'the decrease in interest income was partially offset by a decrease in interest expense , which primarily reflected lower interest expense related to financial instruments sold , but not yet purchased , at fair value and other interest-bearing liabilities , partially offset by higher interest expense related to long-term borrowings .', 'see 201csupplemental financial information 2014 statistical disclosures 2014 distribution of assets , liabilities and shareholders 2019 equity 201d for further information about our sources of net interest income .', 'operating expenses our operating expenses are primarily influenced by compensation , headcount and levels of business activity .', 'compensation and benefits includes salaries , discretionary compensation , amortization of equity awards and other items such as benefits .', 'discretionary compensation is significantly impacted by , among other factors , the level of net revenues , overall financial performance , prevailing labor markets , business mix , the structure of our share- based compensation programs and the external environment .', 'in addition , see 201cuse of estimates 201d for additional information about expenses that may arise from litigation and regulatory proceedings .', 'in the context of the challenging environment during the first half of 2016 , we completed an initiative that identified areas where we can operate more efficiently , resulting in a reduction of approximately $ 900 million in annual run rate compensation .', 'for 2016 , net savings from this initiative , after severance and other related costs , were approximately $ 500 million .', 'the table below presents our operating expenses and total staff ( which includes employees , consultants and temporary staff ) . .']

['56 goldman sachs 2016 form 10-k .']

$ in millions | year ended december 2016 | year ended december 2015 | year ended december 2014 compensation and benefits | $ 11647 | $ 12678 | $ 12691 brokerage clearing exchange anddistribution fees | 2555 | 2576 | 2501 market development | 457 | 557 | 549 communications and technology | 809 | 806 | 779 depreciation and amortization | 998 | 991 | 1337 occupancy | 788 | 772 | 827 professional fees | 882 | 963 | 902 other expenses | 2168 | 5699 | 2585 total non-compensation expenses | 8657 | 12364 | 9480 total operating expenses | $ 20304 | $ 25042 | $ 22171 total staff at period-end | 34400 | 36800 | 34000

subtract(36800, 34000)

2800.0

in millions in 2014 , 2013 , and 2012 , what was the greatest amount of hedged borrowings and bank deposits?

Context: ['notes to consolidated financial statements hedge accounting the firm applies hedge accounting for ( i ) certain interest rate swaps used to manage the interest rate exposure of certain fixed-rate unsecured long-term and short-term borrowings and certain fixed-rate certificates of deposit , ( ii ) certain foreign currency forward contracts and foreign currency-denominated debt used to manage foreign currency exposures on the firm 2019s net investment in certain non-u.s .', 'operations and ( iii ) certain commodities-related swap and forward contracts used to manage the exposure to the variability in cash flows associated with the forecasted sales of certain energy commodities by one of the firm 2019s consolidated investments .', 'to qualify for hedge accounting , the derivative hedge must be highly effective at reducing the risk from the exposure being hedged .', 'additionally , the firm must formally document the hedging relationship at inception and test the hedging relationship at least on a quarterly basis to ensure the derivative hedge continues to be highly effective over the life of the hedging relationship .', 'fair value hedges the firm designates certain interest rate swaps as fair value hedges .', 'these interest rate swaps hedge changes in fair value attributable to the designated benchmark interest rate ( e.g. , london interbank offered rate ( libor ) or ois ) , effectively converting a substantial portion of fixed-rate obligations into floating-rate obligations .', 'the firm applies a statistical method that utilizes regression analysis when assessing the effectiveness of its fair value hedging relationships in achieving offsetting changes in the fair values of the hedging instrument and the risk being hedged ( i.e. , interest rate risk ) .', 'an interest rate swap is considered highly effective in offsetting changes in fair value attributable to changes in the hedged risk when the regression analysis results in a coefficient of determination of 80% ( 80 % ) or greater and a slope between 80% ( 80 % ) and 125% ( 125 % ) .', 'for qualifying fair value hedges , gains or losses on derivatives are included in 201cinterest expense . 201d the change in fair value of the hedged item attributable to the risk being hedged is reported as an adjustment to its carrying value and is subsequently amortized into interest expense over its remaining life .', 'gains or losses resulting from hedge ineffectiveness are included in 201cinterest expense . 201d when a derivative is no longer designated as a hedge , any remaining difference between the carrying value and par value of the hedged item is amortized to interest expense over the remaining life of the hedged item using the effective interest method .', 'see note 23 for further information about interest income and interest expense .', 'the table below presents the gains/ ( losses ) from interest rate derivatives accounted for as hedges , the related hedged borrowings and bank deposits , and the hedge ineffectiveness on these derivatives , which primarily consists of amortization of prepaid credit spreads resulting from the passage of time. .'] ---- Table: ======================================== Row 1: $ in millions, year ended december 2014, year ended december 2013, year ended december 2012 Row 2: interest rate hedges, $ 1936, $ -8683 ( 8683 ), $ -2383 ( 2383 ) Row 3: hedged borrowings and bank deposits, -2451 ( 2451 ), 6999, 665 Row 4: hedge ineffectiveness, $ -515 ( 515 ), $ -1684 ( 1684 ), $ -1718 ( 1718 ) ======================================== ---- Additional Information: ['134 goldman sachs 2014 annual report .']

6999.0

GS/2014/page_136.pdf-1

['notes to consolidated financial statements hedge accounting the firm applies hedge accounting for ( i ) certain interest rate swaps used to manage the interest rate exposure of certain fixed-rate unsecured long-term and short-term borrowings and certain fixed-rate certificates of deposit , ( ii ) certain foreign currency forward contracts and foreign currency-denominated debt used to manage foreign currency exposures on the firm 2019s net investment in certain non-u.s .', 'operations and ( iii ) certain commodities-related swap and forward contracts used to manage the exposure to the variability in cash flows associated with the forecasted sales of certain energy commodities by one of the firm 2019s consolidated investments .', 'to qualify for hedge accounting , the derivative hedge must be highly effective at reducing the risk from the exposure being hedged .', 'additionally , the firm must formally document the hedging relationship at inception and test the hedging relationship at least on a quarterly basis to ensure the derivative hedge continues to be highly effective over the life of the hedging relationship .', 'fair value hedges the firm designates certain interest rate swaps as fair value hedges .', 'these interest rate swaps hedge changes in fair value attributable to the designated benchmark interest rate ( e.g. , london interbank offered rate ( libor ) or ois ) , effectively converting a substantial portion of fixed-rate obligations into floating-rate obligations .', 'the firm applies a statistical method that utilizes regression analysis when assessing the effectiveness of its fair value hedging relationships in achieving offsetting changes in the fair values of the hedging instrument and the risk being hedged ( i.e. , interest rate risk ) .', 'an interest rate swap is considered highly effective in offsetting changes in fair value attributable to changes in the hedged risk when the regression analysis results in a coefficient of determination of 80% ( 80 % ) or greater and a slope between 80% ( 80 % ) and 125% ( 125 % ) .', 'for qualifying fair value hedges , gains or losses on derivatives are included in 201cinterest expense . 201d the change in fair value of the hedged item attributable to the risk being hedged is reported as an adjustment to its carrying value and is subsequently amortized into interest expense over its remaining life .', 'gains or losses resulting from hedge ineffectiveness are included in 201cinterest expense . 201d when a derivative is no longer designated as a hedge , any remaining difference between the carrying value and par value of the hedged item is amortized to interest expense over the remaining life of the hedged item using the effective interest method .', 'see note 23 for further information about interest income and interest expense .', 'the table below presents the gains/ ( losses ) from interest rate derivatives accounted for as hedges , the related hedged borrowings and bank deposits , and the hedge ineffectiveness on these derivatives , which primarily consists of amortization of prepaid credit spreads resulting from the passage of time. .']

['134 goldman sachs 2014 annual report .']

======================================== Row 1: $ in millions, year ended december 2014, year ended december 2013, year ended december 2012 Row 2: interest rate hedges, $ 1936, $ -8683 ( 8683 ), $ -2383 ( 2383 ) Row 3: hedged borrowings and bank deposits, -2451 ( 2451 ), 6999, 665 Row 4: hedge ineffectiveness, $ -515 ( 515 ), $ -1684 ( 1684 ), $ -1718 ( 1718 ) ========================================

table_max(hedged borrowings and bank deposits, none)

6999.0

what was the percentage change in rental expense for operating leases from 2008 to 2009?

Pre-text: ['note 9 .', 'commitments and contingencies operating leases we are obligated under noncancelable operating leases for corporate office space , warehouse and distribution facilities , trucks and certain equipment .', 'the future minimum lease commitments under these leases at december 31 , 2009 are as follows ( in thousands ) : years ending december 31: .'] Data Table: **************************************** 2010 $ 55178 2011 45275 2012 36841 2013 30789 2014 22094 thereafter 59263 future minimum lease payments $ 249440 **************************************** Follow-up: ['rental expense for operating leases was approximately $ 57.2 million , $ 49.0 million and $ 26.6 million during the years ended december 31 , 2009 , 2008 and 2007 , respectively .', 'we guarantee the residual values of the majority of our truck and equipment operating leases .', 'the residual values decline over the lease terms to a defined percentage of original cost .', 'in the event the lessor does not realize the residual value when a piece of equipment is sold , we would be responsible for a portion of the shortfall .', 'similarly , if the lessor realizes more than the residual value when a piece of equipment is sold , we would be paid the amount realized over the residual value .', 'had we terminated all of our operating leases subject to these guarantees at december 31 , 2009 , the guaranteed residual value would have totaled approximately $ 27.8 million .', 'litigation and related contingencies in december 2005 and may 2008 , ford global technologies , llc filed complaints with the international trade commission against us and others alleging that certain aftermarket parts imported into the u.s .', 'infringed on ford design patents .', 'the parties settled these matters in april 2009 pursuant to a settlement arrangement that expires in september 2011 .', 'pursuant to the settlement , we ( and our designees ) became the sole distributor in the united states of aftermarket automotive parts that correspond to ford collision parts that are covered by a united states design patent .', 'we have paid ford an upfront fee for these rights and will pay a royalty for each such part we sell .', 'the amortization of the upfront fee and the royalty expenses are reflected in cost of goods sold on the accompanying consolidated statements of income .', 'we also have certain other contingencies resulting from litigation , claims and other commitments and are subject to a variety of environmental and pollution control laws and regulations incident to the ordinary course of business .', 'we currently expect that the resolution of such contingencies will not materially affect our financial position , results of operations or cash flows .', 'note 10 .', 'business combinations on october 1 , 2009 , we acquired greenleaf auto recyclers , llc ( 201cgreenleaf 201d ) from ssi for $ 38.8 million , net of cash acquired .', 'greenleaf is the entity through which ssi operated its late model automotive parts recycling business .', 'we recorded a gain on bargain purchase for the greenleaf acquisition totaling $ 4.3 million , which is .']

0.16735

LKQ/2009/page_77.pdf-2

['note 9 .', 'commitments and contingencies operating leases we are obligated under noncancelable operating leases for corporate office space , warehouse and distribution facilities , trucks and certain equipment .', 'the future minimum lease commitments under these leases at december 31 , 2009 are as follows ( in thousands ) : years ending december 31: .']

['rental expense for operating leases was approximately $ 57.2 million , $ 49.0 million and $ 26.6 million during the years ended december 31 , 2009 , 2008 and 2007 , respectively .', 'we guarantee the residual values of the majority of our truck and equipment operating leases .', 'the residual values decline over the lease terms to a defined percentage of original cost .', 'in the event the lessor does not realize the residual value when a piece of equipment is sold , we would be responsible for a portion of the shortfall .', 'similarly , if the lessor realizes more than the residual value when a piece of equipment is sold , we would be paid the amount realized over the residual value .', 'had we terminated all of our operating leases subject to these guarantees at december 31 , 2009 , the guaranteed residual value would have totaled approximately $ 27.8 million .', 'litigation and related contingencies in december 2005 and may 2008 , ford global technologies , llc filed complaints with the international trade commission against us and others alleging that certain aftermarket parts imported into the u.s .', 'infringed on ford design patents .', 'the parties settled these matters in april 2009 pursuant to a settlement arrangement that expires in september 2011 .', 'pursuant to the settlement , we ( and our designees ) became the sole distributor in the united states of aftermarket automotive parts that correspond to ford collision parts that are covered by a united states design patent .', 'we have paid ford an upfront fee for these rights and will pay a royalty for each such part we sell .', 'the amortization of the upfront fee and the royalty expenses are reflected in cost of goods sold on the accompanying consolidated statements of income .', 'we also have certain other contingencies resulting from litigation , claims and other commitments and are subject to a variety of environmental and pollution control laws and regulations incident to the ordinary course of business .', 'we currently expect that the resolution of such contingencies will not materially affect our financial position , results of operations or cash flows .', 'note 10 .', 'business combinations on october 1 , 2009 , we acquired greenleaf auto recyclers , llc ( 201cgreenleaf 201d ) from ssi for $ 38.8 million , net of cash acquired .', 'greenleaf is the entity through which ssi operated its late model automotive parts recycling business .', 'we recorded a gain on bargain purchase for the greenleaf acquisition totaling $ 4.3 million , which is .']

**************************************** 2010 $ 55178 2011 45275 2012 36841 2013 30789 2014 22094 thereafter 59263 future minimum lease payments $ 249440 ****************************************

subtract(57.2, 49.0), divide(#0, 49.0)

0.16735

by how much did the weighted average exercise price per share increase from 2005 to 2007?

Context: ['stock-based awards under the plan stock options 2013 marathon grants stock options under the 2007 plan and previously granted options under the 2003 plan .', 'marathon 2019s stock options represent the right to purchase shares of common stock at the fair market value of the common stock on the date of grant .', 'through 2004 , certain stock options were granted under the 2003 plan with a tandem stock appreciation right , which allows the recipient to instead elect to receive cash and/or common stock equal to the excess of the fair market value of shares of common stock , as determined in accordance with the 2003 plan , over the option price of the shares .', 'in general , stock options granted under the 2007 plan and the 2003 plan vest ratably over a three-year period and have a maximum term of ten years from the date they are granted .', 'stock appreciation rights 2013 prior to 2005 , marathon granted sars under the 2003 plan .', 'no stock appreciation rights have been granted under the 2007 plan .', 'similar to stock options , stock appreciation rights represent the right to receive a payment equal to the excess of the fair market value of shares of common stock on the date the right is exercised over the grant price .', 'under the 2003 plan , certain sars were granted as stock-settled sars and others were granted in tandem with stock options .', 'in general , sars granted under the 2003 plan vest ratably over a three-year period and have a maximum term of ten years from the date they are granted .', 'stock-based performance awards 2013 prior to 2005 , marathon granted stock-based performance awards under the 2003 plan .', 'no stock-based performance awards have been granted under the 2007 plan .', 'beginning in 2005 , marathon discontinued granting stock-based performance awards and instead now grants cash-settled performance units to officers .', 'all stock-based performance awards granted under the 2003 plan have either vested or been forfeited .', 'as a result , there are no outstanding stock-based performance awards .', 'restricted stock 2013 marathon grants restricted stock and restricted stock units under the 2007 plan and previously granted such awards under the 2003 plan .', 'in 2005 , the compensation committee began granting time-based restricted stock to certain u.s.-based officers of marathon and its consolidated subsidiaries as part of their annual long-term incentive package .', 'the restricted stock awards to officers vest three years from the date of grant , contingent on the recipient 2019s continued employment .', 'marathon also grants restricted stock to certain non-officer employees and restricted stock units to certain international employees ( 201crestricted stock awards 201d ) , based on their performance within certain guidelines and for retention purposes .', 'the restricted stock awards to non-officers generally vest in one-third increments over a three-year period , contingent on the recipient 2019s continued employment .', 'prior to vesting , all restricted stock recipients have the right to vote such stock and receive dividends thereon .', 'the non-vested shares are not transferable and are held by marathon 2019s transfer agent .', 'common stock units 2013 marathon maintains an equity compensation program for its non-employee directors under the 2007 plan and previously maintained such a program under the 2003 plan .', 'all non-employee directors other than the chairman receive annual grants of common stock units , and they are required to hold those units until they leave the board of directors .', 'when dividends are paid on marathon common stock , directors receive dividend equivalents in the form of additional common stock units .', 'stock-based compensation expense 2013 total employee stock-based compensation expense was $ 80 million , $ 83 million and $ 111 million in 2007 , 2006 and 2005 .', 'the total related income tax benefits were $ 29 million , $ 31 million and $ 39 million .', 'in 2007 and 2006 , cash received upon exercise of stock option awards was $ 27 million and $ 50 million .', 'tax benefits realized for deductions during 2007 and 2006 that were in excess of the stock-based compensation expense recorded for options exercised and other stock-based awards vested during the period totaled $ 30 million and $ 36 million .', 'cash settlements of stock option awards totaled $ 1 million and $ 3 million in 2007 and 2006 .', 'stock option awards granted 2013 during 2007 , 2006 and 2005 , marathon granted stock option awards to both officer and non-officer employees .', 'the weighted average grant date fair value of these awards was based on the following black-scholes assumptions: .'] Table: | 2007 | 2006 | 2005 weighted average exercise price per share | $ 60.94 | $ 37.84 | $ 25.14 expected annual dividends per share | $ 0.96 | $ 0.80 | $ 0.66 expected life in years | 5.0 | 5.1 | 5.5 expected volatility | 27% ( 27 % ) | 28% ( 28 % ) | 28% ( 28 % ) risk-free interest rate | 4.1% ( 4.1 % ) | 5.0% ( 5.0 % ) | 3.8% ( 3.8 % ) weighted average grant date fair value of stock option awards granted | $ 17.24 | $ 10.19 | $ 6.15 Post-table: ['.']

1.42403

MRO/2007/page_134.pdf-1

['stock-based awards under the plan stock options 2013 marathon grants stock options under the 2007 plan and previously granted options under the 2003 plan .', 'marathon 2019s stock options represent the right to purchase shares of common stock at the fair market value of the common stock on the date of grant .', 'through 2004 , certain stock options were granted under the 2003 plan with a tandem stock appreciation right , which allows the recipient to instead elect to receive cash and/or common stock equal to the excess of the fair market value of shares of common stock , as determined in accordance with the 2003 plan , over the option price of the shares .', 'in general , stock options granted under the 2007 plan and the 2003 plan vest ratably over a three-year period and have a maximum term of ten years from the date they are granted .', 'stock appreciation rights 2013 prior to 2005 , marathon granted sars under the 2003 plan .', 'no stock appreciation rights have been granted under the 2007 plan .', 'similar to stock options , stock appreciation rights represent the right to receive a payment equal to the excess of the fair market value of shares of common stock on the date the right is exercised over the grant price .', 'under the 2003 plan , certain sars were granted as stock-settled sars and others were granted in tandem with stock options .', 'in general , sars granted under the 2003 plan vest ratably over a three-year period and have a maximum term of ten years from the date they are granted .', 'stock-based performance awards 2013 prior to 2005 , marathon granted stock-based performance awards under the 2003 plan .', 'no stock-based performance awards have been granted under the 2007 plan .', 'beginning in 2005 , marathon discontinued granting stock-based performance awards and instead now grants cash-settled performance units to officers .', 'all stock-based performance awards granted under the 2003 plan have either vested or been forfeited .', 'as a result , there are no outstanding stock-based performance awards .', 'restricted stock 2013 marathon grants restricted stock and restricted stock units under the 2007 plan and previously granted such awards under the 2003 plan .', 'in 2005 , the compensation committee began granting time-based restricted stock to certain u.s.-based officers of marathon and its consolidated subsidiaries as part of their annual long-term incentive package .', 'the restricted stock awards to officers vest three years from the date of grant , contingent on the recipient 2019s continued employment .', 'marathon also grants restricted stock to certain non-officer employees and restricted stock units to certain international employees ( 201crestricted stock awards 201d ) , based on their performance within certain guidelines and for retention purposes .', 'the restricted stock awards to non-officers generally vest in one-third increments over a three-year period , contingent on the recipient 2019s continued employment .', 'prior to vesting , all restricted stock recipients have the right to vote such stock and receive dividends thereon .', 'the non-vested shares are not transferable and are held by marathon 2019s transfer agent .', 'common stock units 2013 marathon maintains an equity compensation program for its non-employee directors under the 2007 plan and previously maintained such a program under the 2003 plan .', 'all non-employee directors other than the chairman receive annual grants of common stock units , and they are required to hold those units until they leave the board of directors .', 'when dividends are paid on marathon common stock , directors receive dividend equivalents in the form of additional common stock units .', 'stock-based compensation expense 2013 total employee stock-based compensation expense was $ 80 million , $ 83 million and $ 111 million in 2007 , 2006 and 2005 .', 'the total related income tax benefits were $ 29 million , $ 31 million and $ 39 million .', 'in 2007 and 2006 , cash received upon exercise of stock option awards was $ 27 million and $ 50 million .', 'tax benefits realized for deductions during 2007 and 2006 that were in excess of the stock-based compensation expense recorded for options exercised and other stock-based awards vested during the period totaled $ 30 million and $ 36 million .', 'cash settlements of stock option awards totaled $ 1 million and $ 3 million in 2007 and 2006 .', 'stock option awards granted 2013 during 2007 , 2006 and 2005 , marathon granted stock option awards to both officer and non-officer employees .', 'the weighted average grant date fair value of these awards was based on the following black-scholes assumptions: .']

['.']

| 2007 | 2006 | 2005 weighted average exercise price per share | $ 60.94 | $ 37.84 | $ 25.14 expected annual dividends per share | $ 0.96 | $ 0.80 | $ 0.66 expected life in years | 5.0 | 5.1 | 5.5 expected volatility | 27% ( 27 % ) | 28% ( 28 % ) | 28% ( 28 % ) risk-free interest rate | 4.1% ( 4.1 % ) | 5.0% ( 5.0 % ) | 3.8% ( 3.8 % ) weighted average grant date fair value of stock option awards granted | $ 17.24 | $ 10.19 | $ 6.15

subtract(60.94, 25.14), divide(#0, 25.14)

1.42403

net revenues in equity securities were what in billions for 2017 when including net gains from private equities?

Context: ['the goldman sachs group , inc .', 'and subsidiaries management 2019s discussion and analysis investing & lending investing & lending includes our investing activities and the origination of loans , including our relationship lending activities , to provide financing to clients .', 'these investments and loans are typically longer-term in nature .', 'we make investments , some of which are consolidated , including through our merchant banking business and our special situations group , in debt securities and loans , public and private equity securities , infrastructure and real estate entities .', 'some of these investments are made indirectly through funds that we manage .', 'we also make unsecured and secured loans to retail clients through our digital platforms , marcus and goldman sachs private bank select ( gs select ) , respectively .', 'the table below presents the operating results of our investing & lending segment. .'] ------ Data Table: **************************************** Row 1: $ in millions, year ended december 2017, year ended december 2016, year ended december 2015 Row 2: equity securities, $ 4578, $ 2573, $ 3781 Row 3: debt securities and loans, 2003, 1507, 1655 Row 4: total net revenues, 6581, 4080, 5436 Row 5: operating expenses, 2796, 2386, 2402 Row 6: pre-taxearnings, $ 3785, $ 1694, $ 3034 **************************************** ------ Additional Information: ['operating environment .', 'during 2017 , generally higher global equity prices and tighter credit spreads contributed to a favorable environment for our equity and debt investments .', 'results also reflected net gains from company- specific events , including sales , and corporate performance .', 'this environment contrasts with 2016 , where , in the first quarter of 2016 , market conditions were difficult and corporate performance , particularly in the energy sector , was impacted by a challenging macroeconomic environment .', 'however , market conditions improved during the rest of 2016 as macroeconomic concerns moderated .', 'if macroeconomic concerns negatively affect company-specific events or corporate performance , or if global equity markets decline or credit spreads widen , net revenues in investing & lending would likely be negatively impacted .', '2017 versus 2016 .', 'net revenues in investing & lending were $ 6.58 billion for 2017 , 61% ( 61 % ) higher than 2016 .', 'net revenues in equity securities were $ 4.58 billion , including $ 3.82 billion of net gains from private equities and $ 762 million in net gains from public equities .', 'net revenues in equity securities were 78% ( 78 % ) higher than 2016 , primarily reflecting a significant increase in net gains from private equities , which were positively impacted by company- specific events and corporate performance .', 'in addition , net gains from public equities were significantly higher , as global equity prices increased during the year .', 'of the $ 4.58 billion of net revenues in equity securities , approximately 60% ( 60 % ) was driven by net gains from company-specific events , such as sales , and public equities .', 'net revenues in debt securities and loans were $ 2.00 billion , 33% ( 33 % ) higher than 2016 , reflecting significantly higher net interest income ( 2017 included approximately $ 1.80 billion of net interest income ) .', 'net revenues in debt securities and loans for 2017 also included an impairment of approximately $ 130 million on a secured operating expenses were $ 2.80 billion for 2017 , 17% ( 17 % ) higher than 2016 , due to increased compensation and benefits expenses , reflecting higher net revenues , increased expenses related to consolidated investments , and increased expenses related to marcus .', 'pre-tax earnings were $ 3.79 billion in 2017 compared with $ 1.69 billion in 2016 .', '2016 versus 2015 .', 'net revenues in investing & lending were $ 4.08 billion for 2016 , 25% ( 25 % ) lower than 2015 .', 'net revenues in equity securities were $ 2.57 billion , including $ 2.17 billion of net gains from private equities and $ 402 million in net gains from public equities .', 'net revenues in equity securities were 32% ( 32 % ) lower than 2015 , primarily reflecting a significant decrease in net gains from private equities , driven by company-specific events and corporate performance .', 'net revenues in debt securities and loans were $ 1.51 billion , 9% ( 9 % ) lower than 2015 , reflecting significantly lower net revenues related to relationship lending activities , due to the impact of changes in credit spreads on economic hedges .', 'losses related to these hedges were $ 596 million in 2016 , compared with gains of $ 329 million in 2015 .', 'this decrease was partially offset by higher net gains from investments in debt instruments and higher net interest income .', 'see note 9 to the consolidated financial statements for further information about economic hedges related to our relationship lending activities .', 'operating expenses were $ 2.39 billion for 2016 , essentially unchanged compared with 2015 .', 'pre-tax earnings were $ 1.69 billion in 2016 , 44% ( 44 % ) lower than 2015 .', 'goldman sachs 2017 form 10-k 61 .']

8.4

GS/2017/page_74.pdf-1

['the goldman sachs group , inc .', 'and subsidiaries management 2019s discussion and analysis investing & lending investing & lending includes our investing activities and the origination of loans , including our relationship lending activities , to provide financing to clients .', 'these investments and loans are typically longer-term in nature .', 'we make investments , some of which are consolidated , including through our merchant banking business and our special situations group , in debt securities and loans , public and private equity securities , infrastructure and real estate entities .', 'some of these investments are made indirectly through funds that we manage .', 'we also make unsecured and secured loans to retail clients through our digital platforms , marcus and goldman sachs private bank select ( gs select ) , respectively .', 'the table below presents the operating results of our investing & lending segment. .']

['operating environment .', 'during 2017 , generally higher global equity prices and tighter credit spreads contributed to a favorable environment for our equity and debt investments .', 'results also reflected net gains from company- specific events , including sales , and corporate performance .', 'this environment contrasts with 2016 , where , in the first quarter of 2016 , market conditions were difficult and corporate performance , particularly in the energy sector , was impacted by a challenging macroeconomic environment .', 'however , market conditions improved during the rest of 2016 as macroeconomic concerns moderated .', 'if macroeconomic concerns negatively affect company-specific events or corporate performance , or if global equity markets decline or credit spreads widen , net revenues in investing & lending would likely be negatively impacted .', '2017 versus 2016 .', 'net revenues in investing & lending were $ 6.58 billion for 2017 , 61% ( 61 % ) higher than 2016 .', 'net revenues in equity securities were $ 4.58 billion , including $ 3.82 billion of net gains from private equities and $ 762 million in net gains from public equities .', 'net revenues in equity securities were 78% ( 78 % ) higher than 2016 , primarily reflecting a significant increase in net gains from private equities , which were positively impacted by company- specific events and corporate performance .', 'in addition , net gains from public equities were significantly higher , as global equity prices increased during the year .', 'of the $ 4.58 billion of net revenues in equity securities , approximately 60% ( 60 % ) was driven by net gains from company-specific events , such as sales , and public equities .', 'net revenues in debt securities and loans were $ 2.00 billion , 33% ( 33 % ) higher than 2016 , reflecting significantly higher net interest income ( 2017 included approximately $ 1.80 billion of net interest income ) .', 'net revenues in debt securities and loans for 2017 also included an impairment of approximately $ 130 million on a secured operating expenses were $ 2.80 billion for 2017 , 17% ( 17 % ) higher than 2016 , due to increased compensation and benefits expenses , reflecting higher net revenues , increased expenses related to consolidated investments , and increased expenses related to marcus .', 'pre-tax earnings were $ 3.79 billion in 2017 compared with $ 1.69 billion in 2016 .', '2016 versus 2015 .', 'net revenues in investing & lending were $ 4.08 billion for 2016 , 25% ( 25 % ) lower than 2015 .', 'net revenues in equity securities were $ 2.57 billion , including $ 2.17 billion of net gains from private equities and $ 402 million in net gains from public equities .', 'net revenues in equity securities were 32% ( 32 % ) lower than 2015 , primarily reflecting a significant decrease in net gains from private equities , driven by company-specific events and corporate performance .', 'net revenues in debt securities and loans were $ 1.51 billion , 9% ( 9 % ) lower than 2015 , reflecting significantly lower net revenues related to relationship lending activities , due to the impact of changes in credit spreads on economic hedges .', 'losses related to these hedges were $ 596 million in 2016 , compared with gains of $ 329 million in 2015 .', 'this decrease was partially offset by higher net gains from investments in debt instruments and higher net interest income .', 'see note 9 to the consolidated financial statements for further information about economic hedges related to our relationship lending activities .', 'operating expenses were $ 2.39 billion for 2016 , essentially unchanged compared with 2015 .', 'pre-tax earnings were $ 1.69 billion in 2016 , 44% ( 44 % ) lower than 2015 .', 'goldman sachs 2017 form 10-k 61 .']

**************************************** Row 1: $ in millions, year ended december 2017, year ended december 2016, year ended december 2015 Row 2: equity securities, $ 4578, $ 2573, $ 3781 Row 3: debt securities and loans, 2003, 1507, 1655 Row 4: total net revenues, 6581, 4080, 5436 Row 5: operating expenses, 2796, 2386, 2402 Row 6: pre-taxearnings, $ 3785, $ 1694, $ 3034 ****************************************

add(4.58, 3.82)

8.4

what is the number of outstanding shares based on the eps , ( in millions ) ?

Context: ['the following table illustrates the pro forma effect on net income and earnings per share as if all outstanding and unvested stock options in 2005 were accounted for using estimated fair value .', '2005year ended december 31 .'] ---- Table: year ended december 31, 2005 ( in millions except per share amounts ) net income as reported $ 838 add : stock option compensation expense included in reported net income net of related taxes 20 deduct : total stock option compensation expense determined under fair value method for all awards net of related taxes -27 ( 27 ) pro forma net income $ 831 earnings per share: basic 2014as reported $ 2.53 basic 2014pro forma 2.51 diluted 2014as reported 2.50 diluted 2014pro forma 2.48 ---- Follow-up: ['basic earnings per share is calculated by dividing net income available to common shareholders by the weighted-average number of common shares outstanding for the period , which excludes unvested shares of restricted stock .', 'diluted earnings per share is calculated by dividing net income available to common shareholders by the weighted-average number of common shares outstanding for the period and the shares representing the dilutive effect of stock options and awards and other equity-related financial instruments .', 'the effect of stock options and restricted stock outstanding is excluded from the calculation of diluted earnings per share in periods in which their effect would be antidilutive .', 'special purpose entities : we are involved with various legal forms of special purpose entities , or spes , in the normal course of our business .', 'we use trusts to structure and sell certificated interests in pools of tax-exempt investment-grade assets principally to our mutual fund customers .', 'these trusts are recorded in our consolidated financial statements .', 'we transfer assets to these trusts , which are legally isolated from us , from our investment securities portfolio at adjusted book value .', 'the trusts finance the acquisition of these assets by selling certificated interests issued by the trusts to third-party investors .', 'the investment securities of the trusts are carried in investments securities available for sale at fair value .', 'the certificated interests are carried in other short-term borrowings at the amount owed to the third-party investors .', 'the interest revenue and interest expense generated by the investments and certificated interests , respectively , are recorded in net interest revenue when earned or incurred. .']

331.2253

STT/2007/page_95.pdf-1

['the following table illustrates the pro forma effect on net income and earnings per share as if all outstanding and unvested stock options in 2005 were accounted for using estimated fair value .', '2005year ended december 31 .']

['basic earnings per share is calculated by dividing net income available to common shareholders by the weighted-average number of common shares outstanding for the period , which excludes unvested shares of restricted stock .', 'diluted earnings per share is calculated by dividing net income available to common shareholders by the weighted-average number of common shares outstanding for the period and the shares representing the dilutive effect of stock options and awards and other equity-related financial instruments .', 'the effect of stock options and restricted stock outstanding is excluded from the calculation of diluted earnings per share in periods in which their effect would be antidilutive .', 'special purpose entities : we are involved with various legal forms of special purpose entities , or spes , in the normal course of our business .', 'we use trusts to structure and sell certificated interests in pools of tax-exempt investment-grade assets principally to our mutual fund customers .', 'these trusts are recorded in our consolidated financial statements .', 'we transfer assets to these trusts , which are legally isolated from us , from our investment securities portfolio at adjusted book value .', 'the trusts finance the acquisition of these assets by selling certificated interests issued by the trusts to third-party investors .', 'the investment securities of the trusts are carried in investments securities available for sale at fair value .', 'the certificated interests are carried in other short-term borrowings at the amount owed to the third-party investors .', 'the interest revenue and interest expense generated by the investments and certificated interests , respectively , are recorded in net interest revenue when earned or incurred. .']

year ended december 31, 2005 ( in millions except per share amounts ) net income as reported $ 838 add : stock option compensation expense included in reported net income net of related taxes 20 deduct : total stock option compensation expense determined under fair value method for all awards net of related taxes -27 ( 27 ) pro forma net income $ 831 earnings per share: basic 2014as reported $ 2.53 basic 2014pro forma 2.51 diluted 2014as reported 2.50 diluted 2014pro forma 2.48

divide(838, 2.53)

331.2253

what was the change in millions for commercial mortgage recourse obligations between december 31 2014 and 2013?

Context: ['visa indemnification our payment services business issues and acquires credit and debit card transactions through visa u.s.a .', 'inc .', 'card association or its affiliates ( visa ) .', 'in october 2007 , visa completed a restructuring and issued shares of visa inc .', 'common stock to its financial institution members ( visa reorganization ) in contemplation of its initial public offering ( ipo ) .', 'as part of the visa reorganization , we received our proportionate share of class b visa inc .', 'common stock allocated to the u.s .', 'members .', 'prior to the ipo , the u.s .', 'members , which included pnc , were obligated to indemnify visa for judgments and settlements related to certain specified litigation .', 'as a result of the acquisition of national city , we became party to judgment and loss sharing agreements with visa and certain other banks .', 'the judgment and loss sharing agreements were designed to apportion financial responsibilities arising from any potential adverse judgment or negotiated settlements related to the specified litigation .', 'in september 2014 , visa funded $ 450 million into its litigation escrow account and reduced the conversion rate of visa b to a shares .', 'we continue to have an obligation to indemnify visa for judgments and settlements for the remaining specified litigation .', 'recourse and repurchase obligations as discussed in note 2 loan sale and servicing activities and variable interest entities , pnc has sold commercial mortgage , residential mortgage and home equity loans/ lines of credit directly or indirectly through securitization and loan sale transactions in which we have continuing involvement .', 'one form of continuing involvement includes certain recourse and loan repurchase obligations associated with the transferred assets .', 'commercial mortgage loan recourse obligations we originate and service certain multi-family commercial mortgage loans which are sold to fnma under fnma 2019s delegated underwriting and servicing ( dus ) program .', 'we participated in a similar program with the fhlmc .', 'under these programs , we generally assume up to a one-third pari passu risk of loss on unpaid principal balances through a loss share arrangement .', 'at december 31 , 2014 and december 31 , 2013 , the unpaid principal balance outstanding of loans sold as a participant in these programs was $ 12.3 billion and $ 11.7 billion , respectively .', 'the potential maximum exposure under the loss share arrangements was $ 3.7 billion at december 31 , 2014 and $ 3.6 billion at december 31 , 2013 .', 'we maintain a reserve for estimated losses based upon our exposure .', 'the reserve for losses under these programs totaled $ 35 million and $ 33 million as of december 31 , 2014 and december 31 , 2013 , respectively , and is included in other liabilities on our consolidated balance sheet .', 'if payment is required under these programs , we would not have a contractual interest in the collateral underlying the mortgage loans on which losses occurred , although the value of the collateral is taken into account in determining our share of such losses .', 'our exposure and activity associated with these recourse obligations are reported in the corporate & institutional banking segment .', 'table 150 : analysis of commercial mortgage recourse obligations .'] Data Table: **************************************** • in millions, 2014, 2013 • january 1, $ 33, $ 43 • reserve adjustments net, 2, -9 ( 9 ) • losses 2013 loan repurchases and settlements, , -1 ( 1 ) • december 31, $ 35, $ 33 **************************************** Follow-up: ['residential mortgage loan and home equity loan/ line of credit repurchase obligations while residential mortgage loans are sold on a non-recourse basis , we assume certain loan repurchase obligations associated with mortgage loans we have sold to investors .', 'these loan repurchase obligations primarily relate to situations where pnc is alleged to have breached certain origination covenants and representations and warranties made to purchasers of the loans in the respective purchase and sale agreements .', 'repurchase obligation activity associated with residential mortgages is reported in the residential mortgage banking segment .', 'in the fourth quarter of 2013 , pnc reached agreements with both fnma and fhlmc to resolve their repurchase claims with respect to loans sold between 2000 and 2008 .', 'pnc paid a total of $ 191 million related to these settlements .', 'pnc 2019s repurchase obligations also include certain brokered home equity loans/lines of credit that were sold to a limited number of private investors in the financial services industry by national city prior to our acquisition of national city .', 'pnc is no longer engaged in the brokered home equity lending business , and our exposure under these loan repurchase obligations is limited to repurchases of loans sold in these transactions .', 'repurchase activity associated with brokered home equity loans/lines of credit is reported in the non-strategic assets portfolio segment .', '214 the pnc financial services group , inc .', '2013 form 10-k .']

2.0

PNC/2014/page_232.pdf-1

['visa indemnification our payment services business issues and acquires credit and debit card transactions through visa u.s.a .', 'inc .', 'card association or its affiliates ( visa ) .', 'in october 2007 , visa completed a restructuring and issued shares of visa inc .', 'common stock to its financial institution members ( visa reorganization ) in contemplation of its initial public offering ( ipo ) .', 'as part of the visa reorganization , we received our proportionate share of class b visa inc .', 'common stock allocated to the u.s .', 'members .', 'prior to the ipo , the u.s .', 'members , which included pnc , were obligated to indemnify visa for judgments and settlements related to certain specified litigation .', 'as a result of the acquisition of national city , we became party to judgment and loss sharing agreements with visa and certain other banks .', 'the judgment and loss sharing agreements were designed to apportion financial responsibilities arising from any potential adverse judgment or negotiated settlements related to the specified litigation .', 'in september 2014 , visa funded $ 450 million into its litigation escrow account and reduced the conversion rate of visa b to a shares .', 'we continue to have an obligation to indemnify visa for judgments and settlements for the remaining specified litigation .', 'recourse and repurchase obligations as discussed in note 2 loan sale and servicing activities and variable interest entities , pnc has sold commercial mortgage , residential mortgage and home equity loans/ lines of credit directly or indirectly through securitization and loan sale transactions in which we have continuing involvement .', 'one form of continuing involvement includes certain recourse and loan repurchase obligations associated with the transferred assets .', 'commercial mortgage loan recourse obligations we originate and service certain multi-family commercial mortgage loans which are sold to fnma under fnma 2019s delegated underwriting and servicing ( dus ) program .', 'we participated in a similar program with the fhlmc .', 'under these programs , we generally assume up to a one-third pari passu risk of loss on unpaid principal balances through a loss share arrangement .', 'at december 31 , 2014 and december 31 , 2013 , the unpaid principal balance outstanding of loans sold as a participant in these programs was $ 12.3 billion and $ 11.7 billion , respectively .', 'the potential maximum exposure under the loss share arrangements was $ 3.7 billion at december 31 , 2014 and $ 3.6 billion at december 31 , 2013 .', 'we maintain a reserve for estimated losses based upon our exposure .', 'the reserve for losses under these programs totaled $ 35 million and $ 33 million as of december 31 , 2014 and december 31 , 2013 , respectively , and is included in other liabilities on our consolidated balance sheet .', 'if payment is required under these programs , we would not have a contractual interest in the collateral underlying the mortgage loans on which losses occurred , although the value of the collateral is taken into account in determining our share of such losses .', 'our exposure and activity associated with these recourse obligations are reported in the corporate & institutional banking segment .', 'table 150 : analysis of commercial mortgage recourse obligations .']

['residential mortgage loan and home equity loan/ line of credit repurchase obligations while residential mortgage loans are sold on a non-recourse basis , we assume certain loan repurchase obligations associated with mortgage loans we have sold to investors .', 'these loan repurchase obligations primarily relate to situations where pnc is alleged to have breached certain origination covenants and representations and warranties made to purchasers of the loans in the respective purchase and sale agreements .', 'repurchase obligation activity associated with residential mortgages is reported in the residential mortgage banking segment .', 'in the fourth quarter of 2013 , pnc reached agreements with both fnma and fhlmc to resolve their repurchase claims with respect to loans sold between 2000 and 2008 .', 'pnc paid a total of $ 191 million related to these settlements .', 'pnc 2019s repurchase obligations also include certain brokered home equity loans/lines of credit that were sold to a limited number of private investors in the financial services industry by national city prior to our acquisition of national city .', 'pnc is no longer engaged in the brokered home equity lending business , and our exposure under these loan repurchase obligations is limited to repurchases of loans sold in these transactions .', 'repurchase activity associated with brokered home equity loans/lines of credit is reported in the non-strategic assets portfolio segment .', '214 the pnc financial services group , inc .', '2013 form 10-k .']

**************************************** • in millions, 2014, 2013 • january 1, $ 33, $ 43 • reserve adjustments net, 2, -9 ( 9 ) • losses 2013 loan repurchases and settlements, , -1 ( 1 ) • december 31, $ 35, $ 33 ****************************************

subtract(35, 33)

2.0

what percent of total route miles are main line in 2005?

Context: ['our access to commercial paper and reduce our credit ratings below investment grade , which would prohibit us from utilizing our sale of receivables program and significantly increase the cost of issuing debt .', 'we are dependent on two key domestic suppliers of locomotives 2013 due to the capital intensive nature and sophistication of locomotive equipment , high barriers to entry face potential new suppliers .', 'therefore , if one of these domestic suppliers discontinues manufacturing locomotives , we could experience a significant cost increase and risk reduced availability of the locomotives that are necessary to our operations .', 'we may be affected by acts of terrorism , war , or risk of war 2013 our rail lines , facilities , and equipment , including rail cars carrying hazardous materials , could be direct targets or indirect casualties of terrorist attacks .', 'terrorist attacks , or other similar events , any government response thereto , and war or risk of war may adversely affect our results of operations , financial condition , and liquidity .', 'in addition , insurance premiums for some or all of our current coverages could increase dramatically , or certain coverages may not be available to us in the future .', 'item 1b .', 'unresolved staff comments item 2 .', 'properties with operations in 23 states , we employ a variety of assets in the management and operation of our rail business .', 'these assets include real estate , track and track structure , equipment , and facilities .', 'we own and lease real estate that we use in our operations , and we also own real estate that is not required for our business , which we sell from time to time .', 'our equipment includes owned and leased locomotives and rail cars ; heavy maintenance equipment and machinery ; other equipment and tools in our shops , offices and facilities ; and vehicles for maintenance , transportation of crews , and other activities .', 'we operate numerous facilities , including terminals for intermodal and other freight ; rail yards for train-building , switching , storage-in-transit ( the temporary storage of customer goods in rail cars prior to shipment ) and other activities ; offices to administer and manage our operations ; dispatch centers to direct traffic on our rail network ; crew quarters to house train crews along our network ; and shops and other facilities for fueling , maintenance , and repair of locomotives and repair and maintenance of rail cars and other equipment .', 'we spent approximately $ 2.2 billion in cash capital during 2006 for , among other things , building and maintaining track , structures and infrastructure ; upgrading and augmenting equipment ; and implementing new technologies ( see the capital investments table in management 2019s discussion and analysis of financial condition and results of operations 2013 liquidity and capital resources 2013 financial condition , item 7 ) .', 'certain of our properties are subject to federal , state , and local laws and regulations governing the protection of the environment ( see discussion of environmental issues in business 2013 governmental and environmental regulation , item 1 , and management 2019s discussion and analysis of financial condition and results of operations 2013 critical accounting policies 2013 environmental , item 7 ) .', 'track 2013 the railroad operates on 32339 main line and branch line route miles in 23 states in the western two-thirds of the united states .', 'we own 26466 route miles , with the remainder of route miles operated pursuant to trackage rights or leases .', 'route miles as of december 31 , 2006 and 2005 , were as follows : 2006 2005 .'] ---------- Table: **************************************** Row 1: , 2006, 2005 Row 2: main line, 27318, 27301 Row 3: branch line, 5021, 5125 Row 4: yards sidings and other lines, 19257, 20241 Row 5: total, 51596, 52667 **************************************** ---------- Post-table: ['.']

0.51837

UNP/2006/page_15.pdf-4

['our access to commercial paper and reduce our credit ratings below investment grade , which would prohibit us from utilizing our sale of receivables program and significantly increase the cost of issuing debt .', 'we are dependent on two key domestic suppliers of locomotives 2013 due to the capital intensive nature and sophistication of locomotive equipment , high barriers to entry face potential new suppliers .', 'therefore , if one of these domestic suppliers discontinues manufacturing locomotives , we could experience a significant cost increase and risk reduced availability of the locomotives that are necessary to our operations .', 'we may be affected by acts of terrorism , war , or risk of war 2013 our rail lines , facilities , and equipment , including rail cars carrying hazardous materials , could be direct targets or indirect casualties of terrorist attacks .', 'terrorist attacks , or other similar events , any government response thereto , and war or risk of war may adversely affect our results of operations , financial condition , and liquidity .', 'in addition , insurance premiums for some or all of our current coverages could increase dramatically , or certain coverages may not be available to us in the future .', 'item 1b .', 'unresolved staff comments item 2 .', 'properties with operations in 23 states , we employ a variety of assets in the management and operation of our rail business .', 'these assets include real estate , track and track structure , equipment , and facilities .', 'we own and lease real estate that we use in our operations , and we also own real estate that is not required for our business , which we sell from time to time .', 'our equipment includes owned and leased locomotives and rail cars ; heavy maintenance equipment and machinery ; other equipment and tools in our shops , offices and facilities ; and vehicles for maintenance , transportation of crews , and other activities .', 'we operate numerous facilities , including terminals for intermodal and other freight ; rail yards for train-building , switching , storage-in-transit ( the temporary storage of customer goods in rail cars prior to shipment ) and other activities ; offices to administer and manage our operations ; dispatch centers to direct traffic on our rail network ; crew quarters to house train crews along our network ; and shops and other facilities for fueling , maintenance , and repair of locomotives and repair and maintenance of rail cars and other equipment .', 'we spent approximately $ 2.2 billion in cash capital during 2006 for , among other things , building and maintaining track , structures and infrastructure ; upgrading and augmenting equipment ; and implementing new technologies ( see the capital investments table in management 2019s discussion and analysis of financial condition and results of operations 2013 liquidity and capital resources 2013 financial condition , item 7 ) .', 'certain of our properties are subject to federal , state , and local laws and regulations governing the protection of the environment ( see discussion of environmental issues in business 2013 governmental and environmental regulation , item 1 , and management 2019s discussion and analysis of financial condition and results of operations 2013 critical accounting policies 2013 environmental , item 7 ) .', 'track 2013 the railroad operates on 32339 main line and branch line route miles in 23 states in the western two-thirds of the united states .', 'we own 26466 route miles , with the remainder of route miles operated pursuant to trackage rights or leases .', 'route miles as of december 31 , 2006 and 2005 , were as follows : 2006 2005 .']

['.']

**************************************** Row 1: , 2006, 2005 Row 2: main line, 27318, 27301 Row 3: branch line, 5021, 5125 Row 4: yards sidings and other lines, 19257, 20241 Row 5: total, 51596, 52667 ****************************************

divide(27301, 52667)

0.51837

in 2016 what was the percentage change in net revenue

Pre-text: ['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 ( credits ) .', 'following is an analysis of the change in net revenue comparing 2016 to 2015 .', 'amount ( in millions ) .'] -- Table: ---------------------------------------- amount ( in millions ) 2015 net revenue $ 696.3 retail electric price 12.9 volume/weather 4.7 net wholesale revenue -2.4 ( 2.4 ) reserve equalization -2.8 ( 2.8 ) other -3.3 ( 3.3 ) 2016 net revenue $ 705.4 ---------------------------------------- -- Follow-up: ['the retail electric price variance is primarily due to a $ 19.4 million net annual increase in revenues , as approved by the mpsc , effective with the first billing cycle of july 2016 , and an increase in revenues collected through the storm damage rider . a0 see note 2 to the financial statements for more discussion of the formula rate plan and the storm damage rider .', 'the volume/weather variance is primarily due to an increase of 153 gwh , or 1% ( 1 % ) , in billed electricity usage , including an increase in industrial usage , partially offset by the effect of less favorable weather on residential and commercial sales .', 'the increase in industrial usage is primarily due to expansion projects in the pulp and paper industry , increased demand for existing customers , primarily in the metals industry , and new customers in the wood products industry .', 'the net wholesale revenue variance is primarily due to entergy mississippi 2019s exit from the system agreement in november 2015 .', 'the reserve equalization revenue variance is primarily due to the absence of reserve equalization revenue as compared to the same period in 2015 resulting from entergy mississippi 2019s exit from the system agreement in november other income statement variances 2017 compared to 2016 other operation and maintenance expenses decreased primarily due to : 2022 a decrease of $ 12 million in fossil-fueled generation expenses primarily due to lower long-term service agreement costs and a lower scope of work done during plant outages in 2017 as compared to the same period in 2016 ; and 2022 a decrease of $ 3.6 million in storm damage provisions .', 'see note 2 to the financial statements for a discussion on storm cost recovery .', 'the decrease was partially offset by an increase of $ 4.8 million in energy efficiency costs and an increase of $ 2.7 million in compensation and benefits costs primarily due to higher incentive-based compensation accruals in 2017 as compared to the prior year .', 'entergy mississippi , inc .', 'management 2019s financial discussion and analysis .']

0.01307

ETR/2017/page_373.pdf-2

['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 ( credits ) .', 'following is an analysis of the change in net revenue comparing 2016 to 2015 .', 'amount ( in millions ) .']

['the retail electric price variance is primarily due to a $ 19.4 million net annual increase in revenues , as approved by the mpsc , effective with the first billing cycle of july 2016 , and an increase in revenues collected through the storm damage rider . a0 see note 2 to the financial statements for more discussion of the formula rate plan and the storm damage rider .', 'the volume/weather variance is primarily due to an increase of 153 gwh , or 1% ( 1 % ) , in billed electricity usage , including an increase in industrial usage , partially offset by the effect of less favorable weather on residential and commercial sales .', 'the increase in industrial usage is primarily due to expansion projects in the pulp and paper industry , increased demand for existing customers , primarily in the metals industry , and new customers in the wood products industry .', 'the net wholesale revenue variance is primarily due to entergy mississippi 2019s exit from the system agreement in november 2015 .', 'the reserve equalization revenue variance is primarily due to the absence of reserve equalization revenue as compared to the same period in 2015 resulting from entergy mississippi 2019s exit from the system agreement in november other income statement variances 2017 compared to 2016 other operation and maintenance expenses decreased primarily due to : 2022 a decrease of $ 12 million in fossil-fueled generation expenses primarily due to lower long-term service agreement costs and a lower scope of work done during plant outages in 2017 as compared to the same period in 2016 ; and 2022 a decrease of $ 3.6 million in storm damage provisions .', 'see note 2 to the financial statements for a discussion on storm cost recovery .', 'the decrease was partially offset by an increase of $ 4.8 million in energy efficiency costs and an increase of $ 2.7 million in compensation and benefits costs primarily due to higher incentive-based compensation accruals in 2017 as compared to the prior year .', 'entergy mississippi , inc .', 'management 2019s financial discussion and analysis .']

---------------------------------------- amount ( in millions ) 2015 net revenue $ 696.3 retail electric price 12.9 volume/weather 4.7 net wholesale revenue -2.4 ( 2.4 ) reserve equalization -2.8 ( 2.8 ) other -3.3 ( 3.3 ) 2016 net revenue $ 705.4 ----------------------------------------

subtract(705.4, 696.3), divide(#0, 696.3)

0.01307

what was the amount of the sum of the factors that contributed to the decrease in the gross operating revenues

Context: ['entergy new orleans , inc .', 'management 2019s financial discussion and analysis the volume/weather variance is primarily due to an increase in electricity usage in the residential and commercial sectors due in part to a 4% ( 4 % ) increase in the average number of residential customers and a 3% ( 3 % ) increase in the average number of commercial customers , partially offset by the effect of less favorable weather on residential sales .', 'gross operating revenues gross operating revenues decreased primarily due to : a decrease of $ 16.2 million in electric fuel cost recovery revenues due to lower fuel rates ; a decrease of $ 15.4 million in gross gas revenues primarily due to lower fuel cost recovery revenues as a result of lower fuel rates and the effect of milder weather ; and formula rate plan decreases effective october 2010 and october 2011 , as discussed above .', 'the decrease was partially offset by an increase in gross wholesale revenue due to increased sales to affiliated customers and more favorable volume/weather , as discussed above .', '2010 compared to 2009 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 2010 to 2009 .', 'amount ( in millions ) .'] ######## Tabular Data: **************************************** | amount ( in millions ) ----------|---------- 2009 net revenue | $ 243.0 volume/weather | 17.0 net gas revenue | 14.2 effect of 2009 rate case settlement | -6.6 ( 6.6 ) other | 5.3 2010 net revenue | $ 272.9 **************************************** ######## Follow-up: ['the volume/weather variance is primarily due to an increase of 348 gwh , or 7% ( 7 % ) , in billed retail electricity usage primarily due to more favorable weather compared to last year .', 'the net gas revenue variance is primarily due to more favorable weather compared to last year , along with the recognition of a gas regulatory asset associated with the settlement of entergy new orleans 2019s electric and gas formula rate plans .', 'see note 2 to the financial statements for further discussion of the formula rate plan settlement .', 'the effect of 2009 rate case settlement variance results from the april 2009 settlement of entergy new orleans 2019s rate case , and includes the effects of realigning non-fuel costs associated with the operation of grand gulf from the fuel adjustment clause to electric base rates effective june 2009 .', 'see note 2 to the financial statements for further discussion of the rate case settlement .', 'other income statement variances 2011 compared to 2010 other operation and maintenance expenses decreased primarily due to the deferral in 2011 of $ 13.4 million of 2010 michoud plant maintenance costs pursuant to the settlement of entergy new orleans 2019s 2010 test year formula rate plan filing approved by the city council in september 2011 and a decrease of $ 8.0 million in fossil- fueled generation expenses due to higher plant outage costs in 2010 due to a greater scope of work at the michoud plant .', 'see note 2 to the financial statements for more discussion of the 2010 test year formula rate plan filing. .']

31.6

ETR/2011/page_359.pdf-3

['entergy new orleans , inc .', 'management 2019s financial discussion and analysis the volume/weather variance is primarily due to an increase in electricity usage in the residential and commercial sectors due in part to a 4% ( 4 % ) increase in the average number of residential customers and a 3% ( 3 % ) increase in the average number of commercial customers , partially offset by the effect of less favorable weather on residential sales .', 'gross operating revenues gross operating revenues decreased primarily due to : a decrease of $ 16.2 million in electric fuel cost recovery revenues due to lower fuel rates ; a decrease of $ 15.4 million in gross gas revenues primarily due to lower fuel cost recovery revenues as a result of lower fuel rates and the effect of milder weather ; and formula rate plan decreases effective october 2010 and october 2011 , as discussed above .', 'the decrease was partially offset by an increase in gross wholesale revenue due to increased sales to affiliated customers and more favorable volume/weather , as discussed above .', '2010 compared to 2009 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 2010 to 2009 .', 'amount ( in millions ) .']

['the volume/weather variance is primarily due to an increase of 348 gwh , or 7% ( 7 % ) , in billed retail electricity usage primarily due to more favorable weather compared to last year .', 'the net gas revenue variance is primarily due to more favorable weather compared to last year , along with the recognition of a gas regulatory asset associated with the settlement of entergy new orleans 2019s electric and gas formula rate plans .', 'see note 2 to the financial statements for further discussion of the formula rate plan settlement .', 'the effect of 2009 rate case settlement variance results from the april 2009 settlement of entergy new orleans 2019s rate case , and includes the effects of realigning non-fuel costs associated with the operation of grand gulf from the fuel adjustment clause to electric base rates effective june 2009 .', 'see note 2 to the financial statements for further discussion of the rate case settlement .', 'other income statement variances 2011 compared to 2010 other operation and maintenance expenses decreased primarily due to the deferral in 2011 of $ 13.4 million of 2010 michoud plant maintenance costs pursuant to the settlement of entergy new orleans 2019s 2010 test year formula rate plan filing approved by the city council in september 2011 and a decrease of $ 8.0 million in fossil- fueled generation expenses due to higher plant outage costs in 2010 due to a greater scope of work at the michoud plant .', 'see note 2 to the financial statements for more discussion of the 2010 test year formula rate plan filing. .']

**************************************** | amount ( in millions ) ----------|---------- 2009 net revenue | $ 243.0 volume/weather | 17.0 net gas revenue | 14.2 effect of 2009 rate case settlement | -6.6 ( 6.6 ) other | 5.3 2010 net revenue | $ 272.9 ****************************************

add(15.4, 16.2)

31.6

what is the performance shares granted as a percent of the total number of granted shares in 2010?

Background: ['the company granted 1020 performance shares .', 'the vesting of these shares is contingent on meeting stated goals over a performance period .', 'beginning with restricted stock grants in september 2010 , dividends are accrued on restricted class a common stock and restricted stock units and are paid once the restricted stock vests .', 'the following table summarizes restricted stock and performance shares activity for 2010 : number of shares weighted average grant date fair value .'] Table: ======================================== • , number of shares, weighted average grant date fair value • outstanding at december 31 2009, 116677, $ 280 • granted, 134245, 275 • vested, -34630 ( 34630 ), 257 • cancelled, -19830 ( 19830 ), 260 • outstanding at december 31 2010, 196462, 283 ======================================== Additional Information: ['the total fair value of restricted stock that vested during the years ended december 31 , 2010 , 2009 and 2008 , was $ 10.3 million , $ 6.2 million and $ 2.5 million , respectively .', 'eligible employees may acquire shares of cme group 2019s class a common stock using after-tax payroll deductions made during consecutive offering periods of approximately six months in duration .', 'shares are purchased at the end of each offering period at a price of 90% ( 90 % ) of the closing price of the class a common stock as reported on the nasdaq .', 'compensation expense is recognized on the dates of purchase for the discount from the closing price .', 'in 2010 , 2009 and 2008 , a total of 4371 , 4402 and 5600 shares , respectively , of class a common stock were issued to participating employees .', 'these shares are subject to a six-month holding period .', 'annual expense of $ 0.1 million for the purchase discount was recognized in 2010 , 2009 and 2008 , respectively .', 'non-executive directors receive an annual award of class a common stock with a value equal to $ 75000 .', 'non-executive directors may also elect to receive some or all of the cash portion of their annual stipend , up to $ 25000 , in shares of stock based on the closing price at the date of distribution .', 'as a result , 7470 , 11674 and 5509 shares of class a common stock were issued to non-executive directors during 2010 , 2009 and 2008 , respectively .', 'these shares are not subject to any vesting restrictions .', 'expense of $ 2.4 million , $ 2.5 million and $ 2.4 million related to these stock-based payments was recognized for the years ended december 31 , 2010 , 2009 and 2008 , respectively. .']

0.0076

CME/2010/page_113.pdf-4

['the company granted 1020 performance shares .', 'the vesting of these shares is contingent on meeting stated goals over a performance period .', 'beginning with restricted stock grants in september 2010 , dividends are accrued on restricted class a common stock and restricted stock units and are paid once the restricted stock vests .', 'the following table summarizes restricted stock and performance shares activity for 2010 : number of shares weighted average grant date fair value .']

['the total fair value of restricted stock that vested during the years ended december 31 , 2010 , 2009 and 2008 , was $ 10.3 million , $ 6.2 million and $ 2.5 million , respectively .', 'eligible employees may acquire shares of cme group 2019s class a common stock using after-tax payroll deductions made during consecutive offering periods of approximately six months in duration .', 'shares are purchased at the end of each offering period at a price of 90% ( 90 % ) of the closing price of the class a common stock as reported on the nasdaq .', 'compensation expense is recognized on the dates of purchase for the discount from the closing price .', 'in 2010 , 2009 and 2008 , a total of 4371 , 4402 and 5600 shares , respectively , of class a common stock were issued to participating employees .', 'these shares are subject to a six-month holding period .', 'annual expense of $ 0.1 million for the purchase discount was recognized in 2010 , 2009 and 2008 , respectively .', 'non-executive directors receive an annual award of class a common stock with a value equal to $ 75000 .', 'non-executive directors may also elect to receive some or all of the cash portion of their annual stipend , up to $ 25000 , in shares of stock based on the closing price at the date of distribution .', 'as a result , 7470 , 11674 and 5509 shares of class a common stock were issued to non-executive directors during 2010 , 2009 and 2008 , respectively .', 'these shares are not subject to any vesting restrictions .', 'expense of $ 2.4 million , $ 2.5 million and $ 2.4 million related to these stock-based payments was recognized for the years ended december 31 , 2010 , 2009 and 2008 , respectively. .']

======================================== • , number of shares, weighted average grant date fair value • outstanding at december 31 2009, 116677, $ 280 • granted, 134245, 275 • vested, -34630 ( 34630 ), 257 • cancelled, -19830 ( 19830 ), 260 • outstanding at december 31 2010, 196462, 283 ========================================

divide(1020, 134245)

0.0076

what portion of the total outstanding long-term debt is included in the current liabilities section as of december 31 , 2018?

Background: ['maturity requirements on long-term debt as of december 31 , 2018 by year are as follows ( in thousands ) : years ending december 31 .'] -------- Data Table: ======================================== 2019 | $ 124176 2020 | 159979 2021 | 195848 2022 | 267587 2023 | 3945053 2024 and thereafter | 475000 total | $ 5167643 ======================================== -------- Follow-up: ['credit facility we are party to a credit facility agreement with bank of america , n.a. , as administrative agent , and a syndicate of financial institutions as lenders and other agents ( as amended from time to time , the 201ccredit facility 201d ) .', 'as of december 31 , 2018 , the credit facility provided for secured financing comprised of ( i ) a $ 1.5 billion revolving credit facility ( the 201crevolving credit facility 201d ) ; ( ii ) a $ 1.5 billion term loan ( the 201cterm a loan 201d ) , ( iii ) a $ 1.37 billion term loan ( the 201cterm a-2 loan 201d ) , ( iv ) a $ 1.14 billion term loan facility ( the 201cterm b-2 loan 201d ) and ( v ) a $ 500 million term loan ( the 201cterm b-4 loan 201d ) .', 'substantially all of the assets of our domestic subsidiaries are pledged as collateral under the credit facility .', 'the borrowings outstanding under our credit facility as of december 31 , 2018 reflect amounts borrowed for acquisitions and other activities we completed in 2018 , including a reduction to the interest rate margins applicable to our term a loan , term a-2 loan , term b-2 loan and the revolving credit facility , an extension of the maturity dates of the term a loan , term a-2 loan and the revolving credit facility , and an increase in the total financing capacity under the credit facility to approximately $ 5.5 billion in june 2018 .', 'in october 2018 , we entered into an additional term loan under the credit facility in the amount of $ 500 million ( the 201cterm b-4 loan 201d ) .', 'we used the proceeds from the term b-4 loan to pay down a portion of the balance outstanding under our revolving credit facility .', 'the credit facility provides for an interest rate , at our election , of either libor or a base rate , in each case plus a margin .', 'as of december 31 , 2018 , the interest rates on the term a loan , the term a-2 loan , the term b-2 loan and the term b-4 loan were 4.02% ( 4.02 % ) , 4.01% ( 4.01 % ) , 4.27% ( 4.27 % ) and 4.27% ( 4.27 % ) , respectively , and the interest rate on the revolving credit facility was 3.92% ( 3.92 % ) .', 'in addition , we are required to pay a quarterly commitment fee with respect to the unused portion of the revolving credit facility at an applicable rate per annum ranging from 0.20% ( 0.20 % ) to 0.30% ( 0.30 % ) depending on our leverage ratio .', 'the term a loan and the term a-2 loan mature , and the revolving credit facility expires , on january 20 , 2023 .', 'the term b-2 loan matures on april 22 , 2023 .', 'the term b-4 loan matures on october 18 , 2025 .', 'the term a loan and term a-2 loan principal amounts must each be repaid in quarterly installments in the amount of 0.625% ( 0.625 % ) of principal through june 2019 , increasing to 1.25% ( 1.25 % ) of principal through june 2021 , increasing to 1.875% ( 1.875 % ) of principal through june 2022 and increasing to 2.50% ( 2.50 % ) of principal through december 2022 , with the remaining principal balance due upon maturity in january 2023 .', 'the term b-2 loan principal must be repaid in quarterly installments in the amount of 0.25% ( 0.25 % ) of principal through march 2023 , with the remaining principal balance due upon maturity in april 2023 .', 'the term b-4 loan principal must be repaid in quarterly installments in the amount of 0.25% ( 0.25 % ) of principal through september 2025 , with the remaining principal balance due upon maturity in october 2025 .', 'we may issue standby letters of credit of up to $ 100 million in the aggregate under the revolving credit facility .', 'outstanding letters of credit under the revolving credit facility reduce the amount of borrowings available to us .', 'borrowings available to us under the revolving credit facility are further limited by the covenants described below under 201ccompliance with covenants . 201d the total available commitments under the revolving credit facility at december 31 , 2018 were $ 783.6 million .', 'global payments inc .', '| 2018 form 10-k annual report 2013 85 .']

0.02403

GPN/2018/page_85.pdf-3

['maturity requirements on long-term debt as of december 31 , 2018 by year are as follows ( in thousands ) : years ending december 31 .']

['credit facility we are party to a credit facility agreement with bank of america , n.a. , as administrative agent , and a syndicate of financial institutions as lenders and other agents ( as amended from time to time , the 201ccredit facility 201d ) .', 'as of december 31 , 2018 , the credit facility provided for secured financing comprised of ( i ) a $ 1.5 billion revolving credit facility ( the 201crevolving credit facility 201d ) ; ( ii ) a $ 1.5 billion term loan ( the 201cterm a loan 201d ) , ( iii ) a $ 1.37 billion term loan ( the 201cterm a-2 loan 201d ) , ( iv ) a $ 1.14 billion term loan facility ( the 201cterm b-2 loan 201d ) and ( v ) a $ 500 million term loan ( the 201cterm b-4 loan 201d ) .', 'substantially all of the assets of our domestic subsidiaries are pledged as collateral under the credit facility .', 'the borrowings outstanding under our credit facility as of december 31 , 2018 reflect amounts borrowed for acquisitions and other activities we completed in 2018 , including a reduction to the interest rate margins applicable to our term a loan , term a-2 loan , term b-2 loan and the revolving credit facility , an extension of the maturity dates of the term a loan , term a-2 loan and the revolving credit facility , and an increase in the total financing capacity under the credit facility to approximately $ 5.5 billion in june 2018 .', 'in october 2018 , we entered into an additional term loan under the credit facility in the amount of $ 500 million ( the 201cterm b-4 loan 201d ) .', 'we used the proceeds from the term b-4 loan to pay down a portion of the balance outstanding under our revolving credit facility .', 'the credit facility provides for an interest rate , at our election , of either libor or a base rate , in each case plus a margin .', 'as of december 31 , 2018 , the interest rates on the term a loan , the term a-2 loan , the term b-2 loan and the term b-4 loan were 4.02% ( 4.02 % ) , 4.01% ( 4.01 % ) , 4.27% ( 4.27 % ) and 4.27% ( 4.27 % ) , respectively , and the interest rate on the revolving credit facility was 3.92% ( 3.92 % ) .', 'in addition , we are required to pay a quarterly commitment fee with respect to the unused portion of the revolving credit facility at an applicable rate per annum ranging from 0.20% ( 0.20 % ) to 0.30% ( 0.30 % ) depending on our leverage ratio .', 'the term a loan and the term a-2 loan mature , and the revolving credit facility expires , on january 20 , 2023 .', 'the term b-2 loan matures on april 22 , 2023 .', 'the term b-4 loan matures on october 18 , 2025 .', 'the term a loan and term a-2 loan principal amounts must each be repaid in quarterly installments in the amount of 0.625% ( 0.625 % ) of principal through june 2019 , increasing to 1.25% ( 1.25 % ) of principal through june 2021 , increasing to 1.875% ( 1.875 % ) of principal through june 2022 and increasing to 2.50% ( 2.50 % ) of principal through december 2022 , with the remaining principal balance due upon maturity in january 2023 .', 'the term b-2 loan principal must be repaid in quarterly installments in the amount of 0.25% ( 0.25 % ) of principal through march 2023 , with the remaining principal balance due upon maturity in april 2023 .', 'the term b-4 loan principal must be repaid in quarterly installments in the amount of 0.25% ( 0.25 % ) of principal through september 2025 , with the remaining principal balance due upon maturity in october 2025 .', 'we may issue standby letters of credit of up to $ 100 million in the aggregate under the revolving credit facility .', 'outstanding letters of credit under the revolving credit facility reduce the amount of borrowings available to us .', 'borrowings available to us under the revolving credit facility are further limited by the covenants described below under 201ccompliance with covenants . 201d the total available commitments under the revolving credit facility at december 31 , 2018 were $ 783.6 million .', 'global payments inc .', '| 2018 form 10-k annual report 2013 85 .']

======================================== 2019 | $ 124176 2020 | 159979 2021 | 195848 2022 | 267587 2023 | 3945053 2024 and thereafter | 475000 total | $ 5167643 ========================================

divide(124176, 5167643)

0.02403

for the period from 2013 to 2016 , what was the combined balance ( in thousands ) for money pool receivables?\\n

Background: ['system energy resources , inc .', 'management 2019s financial discussion and analysis also in addition to the contractual obligations , system energy has $ 382.3 million of unrecognized tax benefits and interest net of unused tax attributes and payments for which the timing of payments beyond 12 months cannot be reasonably estimated due to uncertainties in the timing of effective settlement of tax positions .', 'see note 3 to the financial statements for additional information regarding unrecognized tax benefits .', 'in addition to routine spending to maintain operations , the planned capital investment estimate includes specific investments and initiatives such as the nuclear fleet operational excellence initiative , as discussed below in 201cnuclear matters , 201d and plant improvements .', 'as a wholly-owned subsidiary , system energy dividends its earnings to entergy corporation at a percentage determined monthly .', 'sources of capital system energy 2019s sources to meet its capital requirements include : 2022 internally generated funds ; 2022 cash on hand ; 2022 debt issuances ; and 2022 bank financing under new or existing facilities .', 'system energy may refinance , redeem , or otherwise retire debt prior to maturity , to the extent market conditions and interest and dividend rates are favorable .', 'all debt and common stock issuances by system energy require prior regulatory approval .', 'debt issuances are also subject to issuance tests set forth in its bond indentures and other agreements .', 'system energy has sufficient capacity under these tests to meet its foreseeable capital needs .', 'system energy 2019s receivables from the money pool were as follows as of december 31 for each of the following years. .'] ---- Tabular Data: ======================================== 2016 | 2015 | 2014 | 2013 ( in thousands ) | ( in thousands ) | ( in thousands ) | ( in thousands ) $ 33809 | $ 39926 | $ 2373 | $ 9223 ======================================== ---- Post-table: ['see note 4 to the financial statements for a description of the money pool .', 'the system energy nuclear fuel company variable interest entity has a credit facility in the amount of $ 120 million scheduled to expire in may 2019 .', 'as of december 31 , 2016 , $ 66.9 million in letters of credit were outstanding under the credit facility to support a like amount of commercial paper issued by the system energy nuclear fuel company variable interest entity .', 'see note 4 to the financial statements for additional discussion of the variable interest entity credit facility .', 'system energy obtained authorizations from the ferc through october 2017 for the following : 2022 short-term borrowings not to exceed an aggregate amount of $ 200 million at any time outstanding ; 2022 long-term borrowings and security issuances ; and 2022 long-term borrowings by its nuclear fuel company variable interest entity .', 'see note 4 to the financial statements for further discussion of system energy 2019s short-term borrowing limits. .']

85331.0

ETR/2016/page_444.pdf-3

['system energy resources , inc .', 'management 2019s financial discussion and analysis also in addition to the contractual obligations , system energy has $ 382.3 million of unrecognized tax benefits and interest net of unused tax attributes and payments for which the timing of payments beyond 12 months cannot be reasonably estimated due to uncertainties in the timing of effective settlement of tax positions .', 'see note 3 to the financial statements for additional information regarding unrecognized tax benefits .', 'in addition to routine spending to maintain operations , the planned capital investment estimate includes specific investments and initiatives such as the nuclear fleet operational excellence initiative , as discussed below in 201cnuclear matters , 201d and plant improvements .', 'as a wholly-owned subsidiary , system energy dividends its earnings to entergy corporation at a percentage determined monthly .', 'sources of capital system energy 2019s sources to meet its capital requirements include : 2022 internally generated funds ; 2022 cash on hand ; 2022 debt issuances ; and 2022 bank financing under new or existing facilities .', 'system energy may refinance , redeem , or otherwise retire debt prior to maturity , to the extent market conditions and interest and dividend rates are favorable .', 'all debt and common stock issuances by system energy require prior regulatory approval .', 'debt issuances are also subject to issuance tests set forth in its bond indentures and other agreements .', 'system energy has sufficient capacity under these tests to meet its foreseeable capital needs .', 'system energy 2019s receivables from the money pool were as follows as of december 31 for each of the following years. .']

['see note 4 to the financial statements for a description of the money pool .', 'the system energy nuclear fuel company variable interest entity has a credit facility in the amount of $ 120 million scheduled to expire in may 2019 .', 'as of december 31 , 2016 , $ 66.9 million in letters of credit were outstanding under the credit facility to support a like amount of commercial paper issued by the system energy nuclear fuel company variable interest entity .', 'see note 4 to the financial statements for additional discussion of the variable interest entity credit facility .', 'system energy obtained authorizations from the ferc through october 2017 for the following : 2022 short-term borrowings not to exceed an aggregate amount of $ 200 million at any time outstanding ; 2022 long-term borrowings and security issuances ; and 2022 long-term borrowings by its nuclear fuel company variable interest entity .', 'see note 4 to the financial statements for further discussion of system energy 2019s short-term borrowing limits. .']

======================================== 2016 | 2015 | 2014 | 2013 ( in thousands ) | ( in thousands ) | ( in thousands ) | ( in thousands ) $ 33809 | $ 39926 | $ 2373 | $ 9223 ========================================

add(33809, 39926), add(#0, 2373), add(#1, 9223)

85331.0

what is the rate of return on an investment in advance auto parts from 2015 to 2016?

Context: ['stock price performance the following graph shows a comparison of the cumulative total return on our common stock , the standard & poor 2019s 500 index and the standard & poor 2019s retail index .', 'the graph assumes that the value of an investment in our common stock and in each such index was $ 100 on december 31 , 2011 , and that any dividends have been reinvested .', 'the comparison in the graph below is based solely on historical data and is not intended to forecast the possible future performance of our common stock .', 'comparison of cumulative total return among advance auto parts , inc. , s&p 500 index and s&p retail index company/index december 31 , december 29 , december 28 , january 3 , january 2 , december 31 .'] ---- Table: **************************************** Row 1: company/index, december 31 2011, december 29 2012, december 28 2013, january 3 2015, january 2 2016, december 31 2016 Row 2: advance auto parts, $ 100.00, $ 102.87, $ 158.46, $ 228.88, $ 217.49, $ 244.64 Row 3: s&p 500 index, 100.00, 114.07, 152.98, 174.56, 177.01, 198.18 Row 4: s&p retail index, 100.00, 122.23, 178.55, 196.06, 245.31, 256.69 **************************************** ---- Additional Information: ['.']

-0.04976

AAP/2016/page_26.pdf-1

['stock price performance the following graph shows a comparison of the cumulative total return on our common stock , the standard & poor 2019s 500 index and the standard & poor 2019s retail index .', 'the graph assumes that the value of an investment in our common stock and in each such index was $ 100 on december 31 , 2011 , and that any dividends have been reinvested .', 'the comparison in the graph below is based solely on historical data and is not intended to forecast the possible future performance of our common stock .', 'comparison of cumulative total return among advance auto parts , inc. , s&p 500 index and s&p retail index company/index december 31 , december 29 , december 28 , january 3 , january 2 , december 31 .']

['.']

**************************************** Row 1: company/index, december 31 2011, december 29 2012, december 28 2013, january 3 2015, january 2 2016, december 31 2016 Row 2: advance auto parts, $ 100.00, $ 102.87, $ 158.46, $ 228.88, $ 217.49, $ 244.64 Row 3: s&p 500 index, 100.00, 114.07, 152.98, 174.56, 177.01, 198.18 Row 4: s&p retail index, 100.00, 122.23, 178.55, 196.06, 245.31, 256.69 ****************************************

subtract(217.49, 228.88), divide(#0, 228.88)

-0.04976

what portion of the total long-term borrowings is due in the next 36 months?

Background: ['11 .', 'borrowings short-term borrowings the carrying value of short-term borrowings at december 31 , 2012 and 2011 , included $ 100 million under the 2012 revolving credit facility and $ 100 million under the 2011 revolving credit facility , respectively .', '2012 revolving credit facility .', 'in march 2011 , the company entered into a five-year $ 3.5 billion unsecured revolving credit facility ( the 201c2011 credit facility 201d ) .', 'in march 2012 , the 2011 credit facility was amended to extend the maturity date by one year to march 2017 and in april 2012 the amount of the aggregate commitment was increased to $ 3.785 billion ( the 201c2012 credit facility 201d ) .', 'the 2012 credit facility permits the company to request an additional $ 1.0 billion of borrowing capacity , subject to lender credit approval , increasing the overall size of the 2012 credit facility to an aggregate principal amount not to exceed $ 4.785 billion .', 'interest on borrowings outstanding accrues at a rate based on the applicable london interbank offered rate plus a spread .', 'the 2012 credit facility requires the company not to exceed a maximum leverage ratio ( ratio of net debt to ebitda , where net debt equals total debt less unrestricted cash ) of 3 to 1 , which was satisfied with a ratio of less than 1 to 1 at december 31 , 2012 .', 'the 2012 credit facility provides back-up liquidity , funds ongoing working capital for general corporate purposes and funds various investment opportunities .', 'at december 31 , 2012 , the company had $ 100 million outstanding under this facility with an interest rate of 1.085% ( 1.085 % ) and a maturity during january 2013 .', 'during january 2013 , the company rolled over the $ 100 million in borrowings at an interest rate of 1.085% ( 1.085 % ) and a maturity during february 2013 .', 'during february 2013 , the company rolled over the $ 100 million in borrowings at an interest rate of 1.075% ( 1.075 % ) and a maturity during march 2013 .', 'commercial paper program .', 'on october 14 , 2009 , blackrock established a commercial paper program ( the 201ccp program 201d ) under which the company could 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 $ 3.0 billion .', 'on may 13 , 2011 , blackrock increased the maximum aggregate amount that may be borrowed under the cp program to $ 3.5 billion .', 'on may 17 , 2012 , blackrock increased the maximum aggregate amount to $ 3.785 billion .', 'the cp program is currently supported by the 2012 credit facility .', 'as of december 31 , 2012 and december 31 , 2011 , blackrock had no cp notes outstanding .', 'long-term borrowings the carrying value and fair value of long-term borrowings estimated using market prices at december 31 , 2012 included the following : ( dollar amounts in millions ) maturity amount unamortized discount carrying value fair value .'] ---------- Data Table: **************************************** ( dollar amounts in millions ), maturity amount, unamortized discount, carrying value, fair value floating rate notes due 2013, $ 750, $ 2014, $ 750, $ 750 3.50% ( 3.50 % ) notes due 2014, 1000, 2014, 1000, 1058 1.375% ( 1.375 % ) notes due 2015, 750, 2014, 750, 762 6.25% ( 6.25 % ) notes due 2017, 700, -3 ( 3 ), 697, 853 5.00% ( 5.00 % ) notes due 2019, 1000, -2 ( 2 ), 998, 1195 4.25% ( 4.25 % ) notes due 2021, 750, -4 ( 4 ), 746, 856 3.375% ( 3.375 % ) notes due 2022, 750, -4 ( 4 ), 746, 801 total long-term borrowings, $ 5700, $ -13 ( 13 ), $ 5687, $ 6275 **************************************** ---------- Post-table: ['.']

0.4386

BLK/2012/page_145.pdf-3

['11 .', 'borrowings short-term borrowings the carrying value of short-term borrowings at december 31 , 2012 and 2011 , included $ 100 million under the 2012 revolving credit facility and $ 100 million under the 2011 revolving credit facility , respectively .', '2012 revolving credit facility .', 'in march 2011 , the company entered into a five-year $ 3.5 billion unsecured revolving credit facility ( the 201c2011 credit facility 201d ) .', 'in march 2012 , the 2011 credit facility was amended to extend the maturity date by one year to march 2017 and in april 2012 the amount of the aggregate commitment was increased to $ 3.785 billion ( the 201c2012 credit facility 201d ) .', 'the 2012 credit facility permits the company to request an additional $ 1.0 billion of borrowing capacity , subject to lender credit approval , increasing the overall size of the 2012 credit facility to an aggregate principal amount not to exceed $ 4.785 billion .', 'interest on borrowings outstanding accrues at a rate based on the applicable london interbank offered rate plus a spread .', 'the 2012 credit facility requires the company not to exceed a maximum leverage ratio ( ratio of net debt to ebitda , where net debt equals total debt less unrestricted cash ) of 3 to 1 , which was satisfied with a ratio of less than 1 to 1 at december 31 , 2012 .', 'the 2012 credit facility provides back-up liquidity , funds ongoing working capital for general corporate purposes and funds various investment opportunities .', 'at december 31 , 2012 , the company had $ 100 million outstanding under this facility with an interest rate of 1.085% ( 1.085 % ) and a maturity during january 2013 .', 'during january 2013 , the company rolled over the $ 100 million in borrowings at an interest rate of 1.085% ( 1.085 % ) and a maturity during february 2013 .', 'during february 2013 , the company rolled over the $ 100 million in borrowings at an interest rate of 1.075% ( 1.075 % ) and a maturity during march 2013 .', 'commercial paper program .', 'on october 14 , 2009 , blackrock established a commercial paper program ( the 201ccp program 201d ) under which the company could 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 $ 3.0 billion .', 'on may 13 , 2011 , blackrock increased the maximum aggregate amount that may be borrowed under the cp program to $ 3.5 billion .', 'on may 17 , 2012 , blackrock increased the maximum aggregate amount to $ 3.785 billion .', 'the cp program is currently supported by the 2012 credit facility .', 'as of december 31 , 2012 and december 31 , 2011 , blackrock had no cp notes outstanding .', 'long-term borrowings the carrying value and fair value of long-term borrowings estimated using market prices at december 31 , 2012 included the following : ( dollar amounts in millions ) maturity amount unamortized discount carrying value fair value .']

['.']

**************************************** ( dollar amounts in millions ), maturity amount, unamortized discount, carrying value, fair value floating rate notes due 2013, $ 750, $ 2014, $ 750, $ 750 3.50% ( 3.50 % ) notes due 2014, 1000, 2014, 1000, 1058 1.375% ( 1.375 % ) notes due 2015, 750, 2014, 750, 762 6.25% ( 6.25 % ) notes due 2017, 700, -3 ( 3 ), 697, 853 5.00% ( 5.00 % ) notes due 2019, 1000, -2 ( 2 ), 998, 1195 4.25% ( 4.25 % ) notes due 2021, 750, -4 ( 4 ), 746, 856 3.375% ( 3.375 % ) notes due 2022, 750, -4 ( 4 ), 746, 801 total long-term borrowings, $ 5700, $ -13 ( 13 ), $ 5687, $ 6275 ****************************************

add(750, 1000), add(#0, 750), divide(#1, 5700)

0.4386

in the retail segment , what is the average number of salespeople in each branch?

Background: ['management 2019s discussion and analysis jpmorgan chase & co .', '/ 2008 annual report 39 five-year stock performance the following table and graph compare the five-year cumulative total return for jpmorgan chase & co .', '( 201cjpmorgan chase 201d or the 201cfirm 201d ) common stock with the cumulative return of the s&p 500 stock index and the s&p financial index .', 'the s&p 500 index is a commonly referenced u.s .', 'equity benchmark consisting of leading companies from different economic sectors .', 'the s&p financial index is an index of 81 financial companies , all of which are within the s&p 500 .', 'the firm is a component of both industry indices .', 'the following table and graph assumes simultaneous investments of $ 100 on december 31 , 2003 , in jpmorgan chase common stock and in each of the above s&p indices .', 'the comparison assumes that all dividends are reinvested .', 'this section of the jpmorgan chase 2019s annual report for the year ended december 31 , 2008 ( 201cannual report 201d ) provides manage- ment 2019s discussion and analysis of the financial condition and results of operations ( 201cmd&a 201d ) of jpmorgan chase .', 'see the glossary of terms on pages 230 2013233 for definitions of terms used throughout this annual report .', 'the md&a included in this annual report con- tains statements that are forward-looking within the meaning of the private securities litigation reform act of 1995 .', 'such statements are based upon the current beliefs and expectations of jpmorgan december 31 .'] ---------- Table: **************************************** Row 1: ( in dollars ), 2003, 2004, 2005, 2006, 2007, 2008 Row 2: jpmorgan chase, $ 100.00, $ 109.92, $ 116.02, $ 145.36, $ 134.91, $ 100.54 Row 3: s&p financial index, 100.00, 110.89, 118.07, 140.73, 114.51, 51.17 Row 4: s&p500, 100.00, 110.88, 116.33, 134.70, 142.10, 89.53 **************************************** ---------- Follow-up: ['december 31 , ( in dollars ) 2003 2004 2005 2006 2007 2008 s&p financial s&p 500jpmorgan chase chase 2019s management and are subject to significant risks and uncer- tainties .', 'these risks and uncertainties could cause jpmorgan chase 2019s results to differ materially from those set forth in such forward-look- ing statements .', 'certain of such risks and uncertainties are described herein ( see forward-looking statements on page 127 of this annual report ) and in the jpmorgan chase annual report on form 10-k for the year ended december 31 , 2008 ( 201c2008 form 10-k 201d ) , in part i , item 1a : risk factors , to which reference is hereby made .', 'introduction jpmorgan chase & co. , a financial holding company incorporated under delaware law in 1968 , is a leading global financial services firm and one of the largest banking institutions in the united states of america ( 201cu.s . 201d ) , with $ 2.2 trillion in assets , $ 166.9 billion in stockholders 2019 equity and operations in more than 60 countries as of december 31 , 2008 .', 'the firm is a leader in investment banking , financial services for consumers and businesses , financial transaction processing and asset management .', 'under the j.p .', 'morgan and chase brands , the firm serves millions of customers in the u.s .', 'and many of the world 2019s most prominent corporate , institutional and government clients .', 'jpmorgan chase 2019s principal bank subsidiaries are jpmorgan chase bank , national association ( 201cjpmorgan chase bank , n.a . 201d ) , a nation- al banking association with branches in 23 states in the u.s. ; and chase bank usa , national association ( 201cchase bank usa , n.a . 201d ) , a national bank that is the firm 2019s credit card issuing bank .', 'jpmorgan chase 2019s principal nonbank subsidiary is j.p .', 'morgan securities inc. , the firm 2019s u.s .', 'investment banking firm .', 'jpmorgan chase 2019s activities are organized , for management reporting purposes , into six business segments , as well as corporate/private equity .', 'the firm 2019s wholesale businesses comprise the investment bank , commercial banking , treasury & securities services and asset management segments .', 'the firm 2019s consumer businesses comprise the retail financial services and card services segments .', 'a description of the firm 2019s business segments , and the products and services they pro- vide to their respective client bases , follows .', 'investment bank j.p .', 'morgan is one of the world 2019s leading investment banks , with deep client relationships and broad product capabilities .', 'the investment bank 2019s clients are corporations , financial institutions , governments and institutional investors .', 'the firm offers a full range of investment banking products and services in all major capital markets , including advising on corporate strategy and structure , cap- ital raising in equity and debt markets , sophisticated risk manage- ment , market-making in cash securities and derivative instruments , prime brokerage and research .', 'the investment bank ( 201cib 201d ) also selectively commits the firm 2019s own capital to principal investing and trading activities .', 'retail financial services retail financial services ( 201crfs 201d ) , which includes the retail banking and consumer lending reporting segments , serves consumers and businesses through personal service at bank branches and through atms , online banking and telephone banking as well as through auto dealerships and school financial aid offices .', 'customers can use more than 5400 bank branches ( third-largest nationally ) and 14500 atms ( second-largest nationally ) as well as online and mobile bank- ing around the clock .', 'more than 21400 branch salespeople assist .']

3.96296

JPM/2008/page_41.pdf-3

['management 2019s discussion and analysis jpmorgan chase & co .', '/ 2008 annual report 39 five-year stock performance the following table and graph compare the five-year cumulative total return for jpmorgan chase & co .', '( 201cjpmorgan chase 201d or the 201cfirm 201d ) common stock with the cumulative return of the s&p 500 stock index and the s&p financial index .', 'the s&p 500 index is a commonly referenced u.s .', 'equity benchmark consisting of leading companies from different economic sectors .', 'the s&p financial index is an index of 81 financial companies , all of which are within the s&p 500 .', 'the firm is a component of both industry indices .', 'the following table and graph assumes simultaneous investments of $ 100 on december 31 , 2003 , in jpmorgan chase common stock and in each of the above s&p indices .', 'the comparison assumes that all dividends are reinvested .', 'this section of the jpmorgan chase 2019s annual report for the year ended december 31 , 2008 ( 201cannual report 201d ) provides manage- ment 2019s discussion and analysis of the financial condition and results of operations ( 201cmd&a 201d ) of jpmorgan chase .', 'see the glossary of terms on pages 230 2013233 for definitions of terms used throughout this annual report .', 'the md&a included in this annual report con- tains statements that are forward-looking within the meaning of the private securities litigation reform act of 1995 .', 'such statements are based upon the current beliefs and expectations of jpmorgan december 31 .']

['december 31 , ( in dollars ) 2003 2004 2005 2006 2007 2008 s&p financial s&p 500jpmorgan chase chase 2019s management and are subject to significant risks and uncer- tainties .', 'these risks and uncertainties could cause jpmorgan chase 2019s results to differ materially from those set forth in such forward-look- ing statements .', 'certain of such risks and uncertainties are described herein ( see forward-looking statements on page 127 of this annual report ) and in the jpmorgan chase annual report on form 10-k for the year ended december 31 , 2008 ( 201c2008 form 10-k 201d ) , in part i , item 1a : risk factors , to which reference is hereby made .', 'introduction jpmorgan chase & co. , a financial holding company incorporated under delaware law in 1968 , is a leading global financial services firm and one of the largest banking institutions in the united states of america ( 201cu.s . 201d ) , with $ 2.2 trillion in assets , $ 166.9 billion in stockholders 2019 equity and operations in more than 60 countries as of december 31 , 2008 .', 'the firm is a leader in investment banking , financial services for consumers and businesses , financial transaction processing and asset management .', 'under the j.p .', 'morgan and chase brands , the firm serves millions of customers in the u.s .', 'and many of the world 2019s most prominent corporate , institutional and government clients .', 'jpmorgan chase 2019s principal bank subsidiaries are jpmorgan chase bank , national association ( 201cjpmorgan chase bank , n.a . 201d ) , a nation- al banking association with branches in 23 states in the u.s. ; and chase bank usa , national association ( 201cchase bank usa , n.a . 201d ) , a national bank that is the firm 2019s credit card issuing bank .', 'jpmorgan chase 2019s principal nonbank subsidiary is j.p .', 'morgan securities inc. , the firm 2019s u.s .', 'investment banking firm .', 'jpmorgan chase 2019s activities are organized , for management reporting purposes , into six business segments , as well as corporate/private equity .', 'the firm 2019s wholesale businesses comprise the investment bank , commercial banking , treasury & securities services and asset management segments .', 'the firm 2019s consumer businesses comprise the retail financial services and card services segments .', 'a description of the firm 2019s business segments , and the products and services they pro- vide to their respective client bases , follows .', 'investment bank j.p .', 'morgan is one of the world 2019s leading investment banks , with deep client relationships and broad product capabilities .', 'the investment bank 2019s clients are corporations , financial institutions , governments and institutional investors .', 'the firm offers a full range of investment banking products and services in all major capital markets , including advising on corporate strategy and structure , cap- ital raising in equity and debt markets , sophisticated risk manage- ment , market-making in cash securities and derivative instruments , prime brokerage and research .', 'the investment bank ( 201cib 201d ) also selectively commits the firm 2019s own capital to principal investing and trading activities .', 'retail financial services retail financial services ( 201crfs 201d ) , which includes the retail banking and consumer lending reporting segments , serves consumers and businesses through personal service at bank branches and through atms , online banking and telephone banking as well as through auto dealerships and school financial aid offices .', 'customers can use more than 5400 bank branches ( third-largest nationally ) and 14500 atms ( second-largest nationally ) as well as online and mobile bank- ing around the clock .', 'more than 21400 branch salespeople assist .']

**************************************** Row 1: ( in dollars ), 2003, 2004, 2005, 2006, 2007, 2008 Row 2: jpmorgan chase, $ 100.00, $ 109.92, $ 116.02, $ 145.36, $ 134.91, $ 100.54 Row 3: s&p financial index, 100.00, 110.89, 118.07, 140.73, 114.51, 51.17 Row 4: s&p500, 100.00, 110.88, 116.33, 134.70, 142.10, 89.53 ****************************************

divide(21400, 5400)

3.96296

what is the percentual increase observed in the net derivative gains during 2006 and 2007?

Context: ['notes to consolidated financial statements the components of accumulated other comprehensive loss , net of related tax , are as follows: .'] ------ Tabular Data: ======================================== ( millions ) as of december 31, 2007, 2006, 2005 net derivative gains ( losses ), $ 24, $ 15, $ -11 ( 11 ) net unrealized investment gains, 76, 73, 52 net foreign exchange translation, 284, 118, -119 ( 119 ) postretirement plans, -1110 ( 1110 ), -1216 ( 1216 ), -1077 ( 1077 ) accumulated other comprehensive loss, $ -726 ( 726 ), $ -1010 ( 1010 ), $ -1155 ( 1155 ) ======================================== ------ Additional Information: ['aon corporation .']

0.6

AON/2007/page_171.pdf-4

['notes to consolidated financial statements the components of accumulated other comprehensive loss , net of related tax , are as follows: .']

['aon corporation .']

======================================== ( millions ) as of december 31, 2007, 2006, 2005 net derivative gains ( losses ), $ 24, $ 15, $ -11 ( 11 ) net unrealized investment gains, 76, 73, 52 net foreign exchange translation, 284, 118, -119 ( 119 ) postretirement plans, -1110 ( 1110 ), -1216 ( 1216 ), -1077 ( 1077 ) accumulated other comprehensive loss, $ -726 ( 726 ), $ -1010 ( 1010 ), $ -1155 ( 1155 ) ========================================

divide(24, 15), subtract(#0, const_1)

0.6

what percentage of payments was long-term debt?

Pre-text: ['off-balance sheet transactions contractual obligations as of december 31 , 2017 , our contractual obligations with initial or remaining terms in excess of one year , including interest payments on long-term debt obligations , were as follows ( in thousands ) : the table above does not include $ 0.5 million of unrecognized tax benefits ( we refer you to the notes to the consolidated financial statements note 201410 201cincome tax 201d ) .', 'certain service providers may require collateral in the normal course of our business .', 'the amount of collateral may change based on certain terms and conditions .', 'as a routine part of our business , depending on market conditions , exchange rates , pricing and our strategy for growth , we regularly consider opportunities to enter into contracts for the building of additional ships .', 'we may also consider the sale of ships , potential acquisitions and strategic alliances .', 'if any of these transactions were to occur , they may be financed through the incurrence of additional permitted indebtedness , through cash flows from operations , or through the issuance of debt , equity or equity-related securities .', 'funding sources certain of our debt agreements contain covenants that , among other things , require us to maintain a minimum level of liquidity , as well as limit our net funded debt-to-capital ratio , maintain certain other ratios and restrict our ability to pay dividends .', 'substantially all of our ships and other property and equipment are pledged as collateral for certain of our debt .', 'we believe we were in compliance with these covenants as of december 31 , 2017 .', 'the impact of changes in world economies and especially the global credit markets can create a challenging environment and may reduce future consumer demand for cruises and adversely affect our counterparty credit risks .', 'in the event this environment deteriorates , our business , financial condition and results of operations could be adversely impacted .', 'we believe our cash on hand , expected future operating cash inflows , additional available borrowings under our new revolving loan facility and our ability to issue debt securities or additional equity securities , will be sufficient to fund operations , debt payment requirements , capital expenditures and maintain compliance with covenants under our debt agreements over the next twelve-month period .', 'there is no assurance that cash flows from operations and additional financings will be available in the future to fund our future obligations .', 'less than 1 year 1-3 years 3-5 years more than 5 years long-term debt ( 1 ) $ 6424582 $ 619373 $ 1248463 $ 3002931 $ 1553815 operating leases ( 2 ) 131791 15204 28973 26504 61110 ship construction contracts ( 3 ) 6138219 1016892 1363215 1141212 2616900 port facilities ( 4 ) 138308 30509 43388 23316 41095 interest ( 5 ) 947967 218150 376566 203099 150152 other ( 6 ) 168678 54800 73653 23870 16355 .'] #### Table: ======================================== | total | less than1 year | 1-3 years | 3-5 years | more than5 years long-term debt ( 1 ) | $ 6424582 | $ 619373 | $ 1248463 | $ 3002931 | $ 1553815 operating leases ( 2 ) | 131791 | 15204 | 28973 | 26504 | 61110 ship construction contracts ( 3 ) | 6138219 | 1016892 | 1363215 | 1141212 | 2616900 port facilities ( 4 ) | 138308 | 30509 | 43388 | 23316 | 41095 interest ( 5 ) | 947967 | 218150 | 376566 | 203099 | 150152 other ( 6 ) | 168678 | 54800 | 73653 | 23870 | 16355 total | $ 13949545 | $ 1954928 | $ 3134258 | $ 4420932 | $ 4439427 ======================================== #### Post-table: ['( 1 ) includes discount and premiums aggregating $ 0.5 million .', 'also includes capital leases .', 'the amount excludes deferred financing fees which are included in the consolidated balance sheets as an offset to long-term debt .', '( 2 ) primarily for offices , motor vehicles and office equipment .', '( 3 ) for our newbuild ships based on the euro/u.s .', 'dollar exchange rate as of december 31 , 2017 .', 'export credit financing is in place from syndicates of banks .', '( 4 ) primarily for our usage of certain port facilities .', '( 5 ) includes fixed and variable rates with libor held constant as of december 31 , 2017 .', '( 6 ) future commitments for service , maintenance and other business enhancement capital expenditure contracts. .']

0.46056

NCLH/2017/page_57.pdf-3

['off-balance sheet transactions contractual obligations as of december 31 , 2017 , our contractual obligations with initial or remaining terms in excess of one year , including interest payments on long-term debt obligations , were as follows ( in thousands ) : the table above does not include $ 0.5 million of unrecognized tax benefits ( we refer you to the notes to the consolidated financial statements note 201410 201cincome tax 201d ) .', 'certain service providers may require collateral in the normal course of our business .', 'the amount of collateral may change based on certain terms and conditions .', 'as a routine part of our business , depending on market conditions , exchange rates , pricing and our strategy for growth , we regularly consider opportunities to enter into contracts for the building of additional ships .', 'we may also consider the sale of ships , potential acquisitions and strategic alliances .', 'if any of these transactions were to occur , they may be financed through the incurrence of additional permitted indebtedness , through cash flows from operations , or through the issuance of debt , equity or equity-related securities .', 'funding sources certain of our debt agreements contain covenants that , among other things , require us to maintain a minimum level of liquidity , as well as limit our net funded debt-to-capital ratio , maintain certain other ratios and restrict our ability to pay dividends .', 'substantially all of our ships and other property and equipment are pledged as collateral for certain of our debt .', 'we believe we were in compliance with these covenants as of december 31 , 2017 .', 'the impact of changes in world economies and especially the global credit markets can create a challenging environment and may reduce future consumer demand for cruises and adversely affect our counterparty credit risks .', 'in the event this environment deteriorates , our business , financial condition and results of operations could be adversely impacted .', 'we believe our cash on hand , expected future operating cash inflows , additional available borrowings under our new revolving loan facility and our ability to issue debt securities or additional equity securities , will be sufficient to fund operations , debt payment requirements , capital expenditures and maintain compliance with covenants under our debt agreements over the next twelve-month period .', 'there is no assurance that cash flows from operations and additional financings will be available in the future to fund our future obligations .', 'less than 1 year 1-3 years 3-5 years more than 5 years long-term debt ( 1 ) $ 6424582 $ 619373 $ 1248463 $ 3002931 $ 1553815 operating leases ( 2 ) 131791 15204 28973 26504 61110 ship construction contracts ( 3 ) 6138219 1016892 1363215 1141212 2616900 port facilities ( 4 ) 138308 30509 43388 23316 41095 interest ( 5 ) 947967 218150 376566 203099 150152 other ( 6 ) 168678 54800 73653 23870 16355 .']

['( 1 ) includes discount and premiums aggregating $ 0.5 million .', 'also includes capital leases .', 'the amount excludes deferred financing fees which are included in the consolidated balance sheets as an offset to long-term debt .', '( 2 ) primarily for offices , motor vehicles and office equipment .', '( 3 ) for our newbuild ships based on the euro/u.s .', 'dollar exchange rate as of december 31 , 2017 .', 'export credit financing is in place from syndicates of banks .', '( 4 ) primarily for our usage of certain port facilities .', '( 5 ) includes fixed and variable rates with libor held constant as of december 31 , 2017 .', '( 6 ) future commitments for service , maintenance and other business enhancement capital expenditure contracts. .']

======================================== | total | less than1 year | 1-3 years | 3-5 years | more than5 years long-term debt ( 1 ) | $ 6424582 | $ 619373 | $ 1248463 | $ 3002931 | $ 1553815 operating leases ( 2 ) | 131791 | 15204 | 28973 | 26504 | 61110 ship construction contracts ( 3 ) | 6138219 | 1016892 | 1363215 | 1141212 | 2616900 port facilities ( 4 ) | 138308 | 30509 | 43388 | 23316 | 41095 interest ( 5 ) | 947967 | 218150 | 376566 | 203099 | 150152 other ( 6 ) | 168678 | 54800 | 73653 | 23870 | 16355 total | $ 13949545 | $ 1954928 | $ 3134258 | $ 4420932 | $ 4439427 ========================================

divide(6424582, 13949545)

0.46056

in 2012 what was the percent of the securities loaned included in the accounted for at fair value

Background: ['jpmorgan chase & co./2012 annual report 249 note 13 2013 securities financing activities jpmorgan chase enters into resale agreements , repurchase agreements , securities borrowed transactions and securities loaned transactions ( collectively , 201csecurities financing agreements 201d ) primarily to finance the firm 2019s inventory positions , acquire securities to cover short positions , accommodate customers 2019 financing needs , and settle other securities obligations .', 'securities financing agreements are treated as collateralized financings on the firm 2019s consolidated balance sheets .', 'resale and repurchase agreements are generally carried at the amounts at which the securities will be subsequently sold or repurchased , plus accrued interest .', 'securities borrowed and securities loaned transactions are generally carried at the amount of cash collateral advanced or received .', 'where appropriate under applicable accounting guidance , resale and repurchase agreements with the same counterparty are reported on a net basis .', 'fees received and paid in connection with securities financing agreements are recorded in interest income and interest expense , respectively .', 'the firm has elected the fair value option for certain securities financing agreements .', 'for further information regarding the fair value option , see note 4 on pages 214 2013 216 of this annual report .', 'the securities financing agreements for which the fair value option has been elected are reported within securities purchased under resale agreements ; securities loaned or sold under repurchase agreements ; and securities borrowed on the consolidated balance sheets .', 'generally , for agreements carried at fair value , current-period interest accruals are recorded within interest income and interest expense , with changes in fair value reported in principal transactions revenue .', 'however , for financial instruments containing embedded derivatives that would be separately accounted for in accordance with accounting guidance for hybrid instruments , all changes in fair value , including any interest elements , are reported in principal transactions revenue .', 'the following table details the firm 2019s securities financing agreements , all of which are accounted for as collateralized financings during the periods presented .', 'december 31 , ( in millions ) 2012 2011 securities purchased under resale agreements ( a ) $ 295413 $ 235000 securities borrowed ( b ) 119017 142462 securities sold under repurchase agreements ( c ) $ 215560 $ 197789 securities loaned ( d ) 23582 14214 ( a ) at december 31 , 2012 and 2011 , included resale agreements of $ 24.3 billion and $ 22.2 billion , respectively , accounted for at fair value .', '( b ) at december 31 , 2012 and 2011 , included securities borrowed of $ 10.2 billion and $ 15.3 billion , respectively , accounted for at fair value .', '( c ) at december 31 , 2012 and 2011 , included repurchase agreements of $ 3.9 billion and $ 6.8 billion , respectively , accounted for at fair value .', '( d ) at december 31 , 2012 , included securities loaned of $ 457 million accounted for at fair value .', 'there were no securities loaned accounted for at fair value at december 31 , 2011 .', 'the amounts reported in the table above were reduced by $ 96.9 billion and $ 115.7 billion at december 31 , 2012 and 2011 , respectively , as a result of agreements in effect that meet the specified conditions for net presentation under applicable accounting guidance .', 'jpmorgan chase 2019s policy is to take possession , where possible , of securities purchased under resale agreements and of securities borrowed .', 'the firm monitors the value of the underlying securities ( primarily g7 government securities , u.s .', 'agency securities and agency mbs , and equities ) that it has received from its counterparties and either requests additional collateral or returns a portion of the collateral when appropriate in light of the market value of the underlying securities .', 'margin levels are established initially based upon the counterparty and type of collateral and monitored on an ongoing basis to protect against declines in collateral value in the event of default .', 'jpmorgan chase typically enters into master netting agreements and other collateral arrangements with its resale agreement and securities borrowed counterparties , which provide for the right to liquidate the purchased or borrowed securities in the event of a customer default .', 'as a result of the firm 2019s credit risk mitigation practices with respect to resale and securities borrowed agreements as described above , the firm did not hold any reserves for credit impairment with respect to these agreements as of december 31 , 2012 and for further information regarding assets pledged and collateral received in securities financing agreements , see note 30 on pages 315 2013316 of this annual report. .'] -- Data Table: ======================================== Row 1: december 31 ( in millions ), 2012, 2011 Row 2: securities purchased under resale agreements ( a ), $ 295413, $ 235000 Row 3: securities borrowed ( b ), 119017, 142462 Row 4: securities sold under repurchase agreements ( c ), $ 215560, $ 197789 Row 5: securities loaned ( d ), 23582, 14214 ======================================== -- Post-table: ['jpmorgan chase & co./2012 annual report 249 note 13 2013 securities financing activities jpmorgan chase enters into resale agreements , repurchase agreements , securities borrowed transactions and securities loaned transactions ( collectively , 201csecurities financing agreements 201d ) primarily to finance the firm 2019s inventory positions , acquire securities to cover short positions , accommodate customers 2019 financing needs , and settle other securities obligations .', 'securities financing agreements are treated as collateralized financings on the firm 2019s consolidated balance sheets .', 'resale and repurchase agreements are generally carried at the amounts at which the securities will be subsequently sold or repurchased , plus accrued interest .', 'securities borrowed and securities loaned transactions are generally carried at the amount of cash collateral advanced or received .', 'where appropriate under applicable accounting guidance , resale and repurchase agreements with the same counterparty are reported on a net basis .', 'fees received and paid in connection with securities financing agreements are recorded in interest income and interest expense , respectively .', 'the firm has elected the fair value option for certain securities financing agreements .', 'for further information regarding the fair value option , see note 4 on pages 214 2013 216 of this annual report .', 'the securities financing agreements for which the fair value option has been elected are reported within securities purchased under resale agreements ; securities loaned or sold under repurchase agreements ; and securities borrowed on the consolidated balance sheets .', 'generally , for agreements carried at fair value , current-period interest accruals are recorded within interest income and interest expense , with changes in fair value reported in principal transactions revenue .', 'however , for financial instruments containing embedded derivatives that would be separately accounted for in accordance with accounting guidance for hybrid instruments , all changes in fair value , including any interest elements , are reported in principal transactions revenue .', 'the following table details the firm 2019s securities financing agreements , all of which are accounted for as collateralized financings during the periods presented .', 'december 31 , ( in millions ) 2012 2011 securities purchased under resale agreements ( a ) $ 295413 $ 235000 securities borrowed ( b ) 119017 142462 securities sold under repurchase agreements ( c ) $ 215560 $ 197789 securities loaned ( d ) 23582 14214 ( a ) at december 31 , 2012 and 2011 , included resale agreements of $ 24.3 billion and $ 22.2 billion , respectively , accounted for at fair value .', '( b ) at december 31 , 2012 and 2011 , included securities borrowed of $ 10.2 billion and $ 15.3 billion , respectively , accounted for at fair value .', '( c ) at december 31 , 2012 and 2011 , included repurchase agreements of $ 3.9 billion and $ 6.8 billion , respectively , accounted for at fair value .', '( d ) at december 31 , 2012 , included securities loaned of $ 457 million accounted for at fair value .', 'there were no securities loaned accounted for at fair value at december 31 , 2011 .', 'the amounts reported in the table above were reduced by $ 96.9 billion and $ 115.7 billion at december 31 , 2012 and 2011 , respectively , as a result of agreements in effect that meet the specified conditions for net presentation under applicable accounting guidance .', 'jpmorgan chase 2019s policy is to take possession , where possible , of securities purchased under resale agreements and of securities borrowed .', 'the firm monitors the value of the underlying securities ( primarily g7 government securities , u.s .', 'agency securities and agency mbs , and equities ) that it has received from its counterparties and either requests additional collateral or returns a portion of the collateral when appropriate in light of the market value of the underlying securities .', 'margin levels are established initially based upon the counterparty and type of collateral and monitored on an ongoing basis to protect against declines in collateral value in the event of default .', 'jpmorgan chase typically enters into master netting agreements and other collateral arrangements with its resale agreement and securities borrowed counterparties , which provide for the right to liquidate the purchased or borrowed securities in the event of a customer default .', 'as a result of the firm 2019s credit risk mitigation practices with respect to resale and securities borrowed agreements as described above , the firm did not hold any reserves for credit impairment with respect to these agreements as of december 31 , 2012 and for further information regarding assets pledged and collateral received in securities financing agreements , see note 30 on pages 315 2013316 of this annual report. .']

0.01938

JPM/2012/page_239.pdf-3

['jpmorgan chase & co./2012 annual report 249 note 13 2013 securities financing activities jpmorgan chase enters into resale agreements , repurchase agreements , securities borrowed transactions and securities loaned transactions ( collectively , 201csecurities financing agreements 201d ) primarily to finance the firm 2019s inventory positions , acquire securities to cover short positions , accommodate customers 2019 financing needs , and settle other securities obligations .', 'securities financing agreements are treated as collateralized financings on the firm 2019s consolidated balance sheets .', 'resale and repurchase agreements are generally carried at the amounts at which the securities will be subsequently sold or repurchased , plus accrued interest .', 'securities borrowed and securities loaned transactions are generally carried at the amount of cash collateral advanced or received .', 'where appropriate under applicable accounting guidance , resale and repurchase agreements with the same counterparty are reported on a net basis .', 'fees received and paid in connection with securities financing agreements are recorded in interest income and interest expense , respectively .', 'the firm has elected the fair value option for certain securities financing agreements .', 'for further information regarding the fair value option , see note 4 on pages 214 2013 216 of this annual report .', 'the securities financing agreements for which the fair value option has been elected are reported within securities purchased under resale agreements ; securities loaned or sold under repurchase agreements ; and securities borrowed on the consolidated balance sheets .', 'generally , for agreements carried at fair value , current-period interest accruals are recorded within interest income and interest expense , with changes in fair value reported in principal transactions revenue .', 'however , for financial instruments containing embedded derivatives that would be separately accounted for in accordance with accounting guidance for hybrid instruments , all changes in fair value , including any interest elements , are reported in principal transactions revenue .', 'the following table details the firm 2019s securities financing agreements , all of which are accounted for as collateralized financings during the periods presented .', 'december 31 , ( in millions ) 2012 2011 securities purchased under resale agreements ( a ) $ 295413 $ 235000 securities borrowed ( b ) 119017 142462 securities sold under repurchase agreements ( c ) $ 215560 $ 197789 securities loaned ( d ) 23582 14214 ( a ) at december 31 , 2012 and 2011 , included resale agreements of $ 24.3 billion and $ 22.2 billion , respectively , accounted for at fair value .', '( b ) at december 31 , 2012 and 2011 , included securities borrowed of $ 10.2 billion and $ 15.3 billion , respectively , accounted for at fair value .', '( c ) at december 31 , 2012 and 2011 , included repurchase agreements of $ 3.9 billion and $ 6.8 billion , respectively , accounted for at fair value .', '( d ) at december 31 , 2012 , included securities loaned of $ 457 million accounted for at fair value .', 'there were no securities loaned accounted for at fair value at december 31 , 2011 .', 'the amounts reported in the table above were reduced by $ 96.9 billion and $ 115.7 billion at december 31 , 2012 and 2011 , respectively , as a result of agreements in effect that meet the specified conditions for net presentation under applicable accounting guidance .', 'jpmorgan chase 2019s policy is to take possession , where possible , of securities purchased under resale agreements and of securities borrowed .', 'the firm monitors the value of the underlying securities ( primarily g7 government securities , u.s .', 'agency securities and agency mbs , and equities ) that it has received from its counterparties and either requests additional collateral or returns a portion of the collateral when appropriate in light of the market value of the underlying securities .', 'margin levels are established initially based upon the counterparty and type of collateral and monitored on an ongoing basis to protect against declines in collateral value in the event of default .', 'jpmorgan chase typically enters into master netting agreements and other collateral arrangements with its resale agreement and securities borrowed counterparties , which provide for the right to liquidate the purchased or borrowed securities in the event of a customer default .', 'as a result of the firm 2019s credit risk mitigation practices with respect to resale and securities borrowed agreements as described above , the firm did not hold any reserves for credit impairment with respect to these agreements as of december 31 , 2012 and for further information regarding assets pledged and collateral received in securities financing agreements , see note 30 on pages 315 2013316 of this annual report. .']

['jpmorgan chase & co./2012 annual report 249 note 13 2013 securities financing activities jpmorgan chase enters into resale agreements , repurchase agreements , securities borrowed transactions and securities loaned transactions ( collectively , 201csecurities financing agreements 201d ) primarily to finance the firm 2019s inventory positions , acquire securities to cover short positions , accommodate customers 2019 financing needs , and settle other securities obligations .', 'securities financing agreements are treated as collateralized financings on the firm 2019s consolidated balance sheets .', 'resale and repurchase agreements are generally carried at the amounts at which the securities will be subsequently sold or repurchased , plus accrued interest .', 'securities borrowed and securities loaned transactions are generally carried at the amount of cash collateral advanced or received .', 'where appropriate under applicable accounting guidance , resale and repurchase agreements with the same counterparty are reported on a net basis .', 'fees received and paid in connection with securities financing agreements are recorded in interest income and interest expense , respectively .', 'the firm has elected the fair value option for certain securities financing agreements .', 'for further information regarding the fair value option , see note 4 on pages 214 2013 216 of this annual report .', 'the securities financing agreements for which the fair value option has been elected are reported within securities purchased under resale agreements ; securities loaned or sold under repurchase agreements ; and securities borrowed on the consolidated balance sheets .', 'generally , for agreements carried at fair value , current-period interest accruals are recorded within interest income and interest expense , with changes in fair value reported in principal transactions revenue .', 'however , for financial instruments containing embedded derivatives that would be separately accounted for in accordance with accounting guidance for hybrid instruments , all changes in fair value , including any interest elements , are reported in principal transactions revenue .', 'the following table details the firm 2019s securities financing agreements , all of which are accounted for as collateralized financings during the periods presented .', 'december 31 , ( in millions ) 2012 2011 securities purchased under resale agreements ( a ) $ 295413 $ 235000 securities borrowed ( b ) 119017 142462 securities sold under repurchase agreements ( c ) $ 215560 $ 197789 securities loaned ( d ) 23582 14214 ( a ) at december 31 , 2012 and 2011 , included resale agreements of $ 24.3 billion and $ 22.2 billion , respectively , accounted for at fair value .', '( b ) at december 31 , 2012 and 2011 , included securities borrowed of $ 10.2 billion and $ 15.3 billion , respectively , accounted for at fair value .', '( c ) at december 31 , 2012 and 2011 , included repurchase agreements of $ 3.9 billion and $ 6.8 billion , respectively , accounted for at fair value .', '( d ) at december 31 , 2012 , included securities loaned of $ 457 million accounted for at fair value .', 'there were no securities loaned accounted for at fair value at december 31 , 2011 .', 'the amounts reported in the table above were reduced by $ 96.9 billion and $ 115.7 billion at december 31 , 2012 and 2011 , respectively , as a result of agreements in effect that meet the specified conditions for net presentation under applicable accounting guidance .', 'jpmorgan chase 2019s policy is to take possession , where possible , of securities purchased under resale agreements and of securities borrowed .', 'the firm monitors the value of the underlying securities ( primarily g7 government securities , u.s .', 'agency securities and agency mbs , and equities ) that it has received from its counterparties and either requests additional collateral or returns a portion of the collateral when appropriate in light of the market value of the underlying securities .', 'margin levels are established initially based upon the counterparty and type of collateral and monitored on an ongoing basis to protect against declines in collateral value in the event of default .', 'jpmorgan chase typically enters into master netting agreements and other collateral arrangements with its resale agreement and securities borrowed counterparties , which provide for the right to liquidate the purchased or borrowed securities in the event of a customer default .', 'as a result of the firm 2019s credit risk mitigation practices with respect to resale and securities borrowed agreements as described above , the firm did not hold any reserves for credit impairment with respect to these agreements as of december 31 , 2012 and for further information regarding assets pledged and collateral received in securities financing agreements , see note 30 on pages 315 2013316 of this annual report. .']

======================================== Row 1: december 31 ( in millions ), 2012, 2011 Row 2: securities purchased under resale agreements ( a ), $ 295413, $ 235000 Row 3: securities borrowed ( b ), 119017, 142462 Row 4: securities sold under repurchase agreements ( c ), $ 215560, $ 197789 Row 5: securities loaned ( d ), 23582, 14214 ========================================

divide(457, 23582)

0.01938

in 2018 what was the net discretionary company contribution after the participant forfeitures

Background: ['notes to consolidated financial statements 2013 ( continued ) ( amounts in millions , except per share amounts ) the estimated future benefit payments expected to be paid are presented below .', 'domestic pension plan foreign pension plans domestic postretirement benefit plan .'] #### Table: **************************************** years | domesticpension plan | foreignpension plans | domestic postretirementbenefit plan 2019 | $ 14.5 | $ 21.7 | $ 3.0 2020 | 8.8 | 18.7 | 2.8 2021 | 8.0 | 19.8 | 2.6 2022 | 8.3 | 20.9 | 2.4 2023 | 7.8 | 21.8 | 2.2 2024 - 2028 | 36.7 | 117.2 | 9.8 **************************************** #### Follow-up: ['the estimated future payments for our domestic postretirement benefit plan are net of any estimated u.s .', 'federal subsidies expected to be received under the medicare prescription drug , improvement and modernization act of 2003 , which total no more than $ 0.3 in any individual year .', 'savings plans we sponsor defined contribution plans ( the 201csavings plans 201d ) that cover substantially all domestic employees .', 'the savings plans permit participants to make contributions on a pre-tax and/or after-tax basis and allow participants to choose among various investment alternatives .', 'we match a portion of participant contributions based upon their years of service .', 'amounts expensed for the savings plans for 2018 , 2017 and 2016 were $ 52.6 , $ 47.2 and $ 47.0 , respectively .', 'expenses include a discretionary company contribution of $ 6.7 , $ 3.6 and $ 6.1 offset by participant forfeitures of $ 5.8 , $ 4.6 and $ 4.4 in 2018 , 2017 and 2016 , respectively .', 'in addition , we maintain defined contribution plans in various foreign countries and contributed $ 51.3 , $ 47.4 and $ 44.5 to these plans in 2018 , 2017 and 2016 , respectively .', 'deferred compensation and benefit arrangements we have deferred compensation and benefit arrangements which ( i ) permit certain of our key officers and employees to defer a portion of their salary or incentive compensation or ( ii ) require us to contribute an amount to the participant 2019s account .', 'these arrangements may provide participants with the amounts deferred plus interest upon attaining certain conditions , such as completing a certain number of years of service , attaining a certain age or upon retirement or termination .', 'as of december 31 , 2018 and 2017 , the deferred compensation and deferred benefit liability balance was $ 196.2 and $ 213.2 , respectively .', 'amounts expensed for deferred compensation and benefit arrangements in 2018 , 2017 and 2016 were $ 10.0 , $ 18.5 and $ 18.5 , respectively .', 'we have purchased life insurance policies on participants 2019 lives to assist in the funding of the related deferred compensation and deferred benefit liabilities .', 'as of december 31 , 2018 and 2017 , the cash surrender value of these policies was $ 177.3 and $ 177.4 , respectively .', 'long-term disability plan we have a long-term disability plan which provides income replacement benefits to eligible participants who are unable to perform their job duties or any job related to his or her education , training or experience .', 'as all income replacement benefits are fully insured , no related obligation is required as of december 31 , 2018 and 2017 .', 'in addition to income replacement benefits , plan participants may remain covered for certain health and life insurance benefits up to normal retirement age , and accordingly , we have recorded an obligation of $ 5.9 and $ 8.4 as of december 31 , 2018 and 2017 , respectively. .']

0.9

IPG/2018/page_100.pdf-4

['notes to consolidated financial statements 2013 ( continued ) ( amounts in millions , except per share amounts ) the estimated future benefit payments expected to be paid are presented below .', 'domestic pension plan foreign pension plans domestic postretirement benefit plan .']

['the estimated future payments for our domestic postretirement benefit plan are net of any estimated u.s .', 'federal subsidies expected to be received under the medicare prescription drug , improvement and modernization act of 2003 , which total no more than $ 0.3 in any individual year .', 'savings plans we sponsor defined contribution plans ( the 201csavings plans 201d ) that cover substantially all domestic employees .', 'the savings plans permit participants to make contributions on a pre-tax and/or after-tax basis and allow participants to choose among various investment alternatives .', 'we match a portion of participant contributions based upon their years of service .', 'amounts expensed for the savings plans for 2018 , 2017 and 2016 were $ 52.6 , $ 47.2 and $ 47.0 , respectively .', 'expenses include a discretionary company contribution of $ 6.7 , $ 3.6 and $ 6.1 offset by participant forfeitures of $ 5.8 , $ 4.6 and $ 4.4 in 2018 , 2017 and 2016 , respectively .', 'in addition , we maintain defined contribution plans in various foreign countries and contributed $ 51.3 , $ 47.4 and $ 44.5 to these plans in 2018 , 2017 and 2016 , respectively .', 'deferred compensation and benefit arrangements we have deferred compensation and benefit arrangements which ( i ) permit certain of our key officers and employees to defer a portion of their salary or incentive compensation or ( ii ) require us to contribute an amount to the participant 2019s account .', 'these arrangements may provide participants with the amounts deferred plus interest upon attaining certain conditions , such as completing a certain number of years of service , attaining a certain age or upon retirement or termination .', 'as of december 31 , 2018 and 2017 , the deferred compensation and deferred benefit liability balance was $ 196.2 and $ 213.2 , respectively .', 'amounts expensed for deferred compensation and benefit arrangements in 2018 , 2017 and 2016 were $ 10.0 , $ 18.5 and $ 18.5 , respectively .', 'we have purchased life insurance policies on participants 2019 lives to assist in the funding of the related deferred compensation and deferred benefit liabilities .', 'as of december 31 , 2018 and 2017 , the cash surrender value of these policies was $ 177.3 and $ 177.4 , respectively .', 'long-term disability plan we have a long-term disability plan which provides income replacement benefits to eligible participants who are unable to perform their job duties or any job related to his or her education , training or experience .', 'as all income replacement benefits are fully insured , no related obligation is required as of december 31 , 2018 and 2017 .', 'in addition to income replacement benefits , plan participants may remain covered for certain health and life insurance benefits up to normal retirement age , and accordingly , we have recorded an obligation of $ 5.9 and $ 8.4 as of december 31 , 2018 and 2017 , respectively. .']

**************************************** years | domesticpension plan | foreignpension plans | domestic postretirementbenefit plan 2019 | $ 14.5 | $ 21.7 | $ 3.0 2020 | 8.8 | 18.7 | 2.8 2021 | 8.0 | 19.8 | 2.6 2022 | 8.3 | 20.9 | 2.4 2023 | 7.8 | 21.8 | 2.2 2024 - 2028 | 36.7 | 117.2 | 9.8 ****************************************

subtract(6.7, 5.8)

0.9

how much longer in years is the life for customer contracts and relationships than for trademarks?

Pre-text: ['goodwill is assigned to one or more reporting segments on the date of acquisition .', 'we evaluate goodwill for impairment by comparing the fair value of each of our reporting segments to its carrying value , including the associated goodwill .', 'to determine the fair values , we use the market approach based on comparable publicly traded companies in similar lines of businesses and the income approach based on estimated discounted future cash flows .', 'our cash flow assumptions consider historical and forecasted revenue , operating costs and other relevant factors .', 'we amortize intangible assets with finite lives over their estimated useful lives and review them for impairment whenever an impairment indicator exists .', 'we continually monitor events and changes in circumstances that could indicate carrying amounts of our long-lived assets , including our intangible assets may not be recoverable .', 'when such events or changes in circumstances occur , we assess recoverability by determining whether the carrying value of such assets will be recovered through the undiscounted expected future cash flows .', 'if the future undiscounted cash flows are less than the carrying amount of these assets , we recognize an impairment loss based on any excess of the carrying amount over the fair value of the assets .', 'we did not recognize any intangible asset impairment charges in fiscal 2012 , 2011 or 2010 .', 'our intangible assets are amortized over their estimated useful lives of 1 to 13 years .', 'amortization is based on the pattern in which the economic benefits of the intangible asset will be consumed .', 'the weighted average useful lives of our intangible assets was as follows : weighted average useful life ( years ) .'] ---------- Tabular Data: ---------------------------------------- weighted averageuseful life ( years ) purchased technology 5 customer contracts and relationships 10 trademarks 7 acquired rights to use technology 9 localization 1 other intangibles 3 ---------------------------------------- ---------- Follow-up: ['software development costs capitalization of software development costs for software to be sold , leased , or otherwise marketed begins upon the establishment of technological feasibility , which is generally the completion of a working prototype that has been certified as having no critical bugs and is a release candidate .', 'amortization begins once the software is ready for its intended use , generally based on the pattern in which the economic benefits will be consumed .', 'to date , software development costs incurred between completion of a working prototype and general availability of the related product have not been material .', 'internal use software we capitalize costs associated with customized internal-use software systems that have reached the application development stage .', 'such capitalized costs include external direct costs utilized in developing or obtaining the applications and payroll and payroll-related expenses for employees , who are directly associated with the development of the applications .', 'capitalization of such costs begins when the preliminary project stage is complete and ceases at the point in which the project is substantially complete and is ready for its intended purpose .', 'income taxes we use the asset and liability method of accounting for income taxes .', 'under this method , income tax expense is recognized for the amount of taxes payable or refundable for the current year .', 'in addition , deferred tax assets and liabilities are recognized for expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities , and for operating losses and tax credit carryforwards .', 'we record a valuation allowance to reduce deferred tax assets to an amount for which realization is more likely than not .', 'table of contents adobe systems incorporated notes to consolidated financial statements ( continued ) .']

3.0

ADBE/2012/page_87.pdf-2

['goodwill is assigned to one or more reporting segments on the date of acquisition .', 'we evaluate goodwill for impairment by comparing the fair value of each of our reporting segments to its carrying value , including the associated goodwill .', 'to determine the fair values , we use the market approach based on comparable publicly traded companies in similar lines of businesses and the income approach based on estimated discounted future cash flows .', 'our cash flow assumptions consider historical and forecasted revenue , operating costs and other relevant factors .', 'we amortize intangible assets with finite lives over their estimated useful lives and review them for impairment whenever an impairment indicator exists .', 'we continually monitor events and changes in circumstances that could indicate carrying amounts of our long-lived assets , including our intangible assets may not be recoverable .', 'when such events or changes in circumstances occur , we assess recoverability by determining whether the carrying value of such assets will be recovered through the undiscounted expected future cash flows .', 'if the future undiscounted cash flows are less than the carrying amount of these assets , we recognize an impairment loss based on any excess of the carrying amount over the fair value of the assets .', 'we did not recognize any intangible asset impairment charges in fiscal 2012 , 2011 or 2010 .', 'our intangible assets are amortized over their estimated useful lives of 1 to 13 years .', 'amortization is based on the pattern in which the economic benefits of the intangible asset will be consumed .', 'the weighted average useful lives of our intangible assets was as follows : weighted average useful life ( years ) .']

['software development costs capitalization of software development costs for software to be sold , leased , or otherwise marketed begins upon the establishment of technological feasibility , which is generally the completion of a working prototype that has been certified as having no critical bugs and is a release candidate .', 'amortization begins once the software is ready for its intended use , generally based on the pattern in which the economic benefits will be consumed .', 'to date , software development costs incurred between completion of a working prototype and general availability of the related product have not been material .', 'internal use software we capitalize costs associated with customized internal-use software systems that have reached the application development stage .', 'such capitalized costs include external direct costs utilized in developing or obtaining the applications and payroll and payroll-related expenses for employees , who are directly associated with the development of the applications .', 'capitalization of such costs begins when the preliminary project stage is complete and ceases at the point in which the project is substantially complete and is ready for its intended purpose .', 'income taxes we use the asset and liability method of accounting for income taxes .', 'under this method , income tax expense is recognized for the amount of taxes payable or refundable for the current year .', 'in addition , deferred tax assets and liabilities are recognized for expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities , and for operating losses and tax credit carryforwards .', 'we record a valuation allowance to reduce deferred tax assets to an amount for which realization is more likely than not .', 'table of contents adobe systems incorporated notes to consolidated financial statements ( continued ) .']

---------------------------------------- weighted averageuseful life ( years ) purchased technology 5 customer contracts and relationships 10 trademarks 7 acquired rights to use technology 9 localization 1 other intangibles 3 ----------------------------------------

subtract(10, 7)

3.0

what is the growth rate in the segment of display from 2014 to 2015?

Pre-text: ['backlog applied manufactures systems to meet demand represented by order backlog and customer commitments .', 'backlog consists of : ( 1 ) orders for which written authorizations have been accepted and assigned shipment dates are within the next 12 months , or shipment has occurred but revenue has not been recognized ; and ( 2 ) contractual service revenue and maintenance fees to be earned within the next 12 months .', 'backlog by reportable segment as of october 25 , 2015 and october 26 , 2014 was as follows : 2015 2014 ( in millions , except percentages ) .'] Tabular Data: ======================================== | 2015 | 2014 | | ( in millions except percentages ) silicon systems | $ 1720 | 55% ( 55 % ) | $ 1400 | 48% ( 48 % ) applied global services | 812 | 26% ( 26 % ) | 775 | 27% ( 27 % ) display | 525 | 16% ( 16 % ) | 593 | 20% ( 20 % ) energy and environmental solutions | 85 | 3% ( 3 % ) | 149 | 5% ( 5 % ) total | $ 3142 | 100% ( 100 % ) | $ 2917 | 100% ( 100 % ) ======================================== Post-table: ['applied 2019s backlog on any particular date is not necessarily indicative of actual sales for any future periods , due to the potential for customer changes in delivery schedules or order cancellations .', 'customers may delay delivery of products or cancel orders prior to shipment , subject to possible cancellation penalties .', 'delays in delivery schedules or a reduction of backlog during any particular period could have a material adverse effect on applied 2019s business and results of operations .', 'manufacturing , raw materials and supplies applied 2019s manufacturing activities consist primarily of assembly , test and integration of various proprietary and commercial parts , components and subassemblies that are used to manufacture systems .', 'applied has implemented a distributed manufacturing model under which manufacturing and supply chain activities are conducted in various countries , including germany , israel , italy , singapore , taiwan , the united states and other countries in asia .', 'applied uses numerous vendors , including contract manufacturers , to supply parts and assembly services for the manufacture and support of its products , including some systems being completed at customer sites .', 'although applied makes reasonable efforts to assure that parts are available from multiple qualified suppliers , this is not always possible .', 'accordingly , some key parts may be obtained from only a single supplier or a limited group of suppliers .', 'applied seeks to reduce costs and to lower the risks of manufacturing and service interruptions by selecting and qualifying alternate suppliers for key parts ; monitoring the financial condition of key suppliers ; maintaining appropriate inventories of key parts ; qualifying new parts on a timely basis ; and ensuring quality and performance of parts. .']

-0.11467

AMAT/2015/page_14.pdf-2

['backlog applied manufactures systems to meet demand represented by order backlog and customer commitments .', 'backlog consists of : ( 1 ) orders for which written authorizations have been accepted and assigned shipment dates are within the next 12 months , or shipment has occurred but revenue has not been recognized ; and ( 2 ) contractual service revenue and maintenance fees to be earned within the next 12 months .', 'backlog by reportable segment as of october 25 , 2015 and october 26 , 2014 was as follows : 2015 2014 ( in millions , except percentages ) .']

['applied 2019s backlog on any particular date is not necessarily indicative of actual sales for any future periods , due to the potential for customer changes in delivery schedules or order cancellations .', 'customers may delay delivery of products or cancel orders prior to shipment , subject to possible cancellation penalties .', 'delays in delivery schedules or a reduction of backlog during any particular period could have a material adverse effect on applied 2019s business and results of operations .', 'manufacturing , raw materials and supplies applied 2019s manufacturing activities consist primarily of assembly , test and integration of various proprietary and commercial parts , components and subassemblies that are used to manufacture systems .', 'applied has implemented a distributed manufacturing model under which manufacturing and supply chain activities are conducted in various countries , including germany , israel , italy , singapore , taiwan , the united states and other countries in asia .', 'applied uses numerous vendors , including contract manufacturers , to supply parts and assembly services for the manufacture and support of its products , including some systems being completed at customer sites .', 'although applied makes reasonable efforts to assure that parts are available from multiple qualified suppliers , this is not always possible .', 'accordingly , some key parts may be obtained from only a single supplier or a limited group of suppliers .', 'applied seeks to reduce costs and to lower the risks of manufacturing and service interruptions by selecting and qualifying alternate suppliers for key parts ; monitoring the financial condition of key suppliers ; maintaining appropriate inventories of key parts ; qualifying new parts on a timely basis ; and ensuring quality and performance of parts. .']

======================================== | 2015 | 2014 | | ( in millions except percentages ) silicon systems | $ 1720 | 55% ( 55 % ) | $ 1400 | 48% ( 48 % ) applied global services | 812 | 26% ( 26 % ) | 775 | 27% ( 27 % ) display | 525 | 16% ( 16 % ) | 593 | 20% ( 20 % ) energy and environmental solutions | 85 | 3% ( 3 % ) | 149 | 5% ( 5 % ) total | $ 3142 | 100% ( 100 % ) | $ 2917 | 100% ( 100 % ) ========================================

subtract(525, 593), divide(#0, 593)

-0.11467

what is the percentage of the common stock repurchase among the total program of repurchases?

Context: ['humana inc .', 'notes to consolidated financial statements 2014 ( continued ) 15 .', 'stockholders 2019 equity dividends the following table provides details of dividend payments , excluding dividend equivalent rights , in 2015 , 2016 , and 2017 under our board approved quarterly cash dividend policy : payment amount per share amount ( in millions ) .'] Data Table: paymentdate | amountper share | totalamount ( in millions ) ----------|----------|---------- 2015 | $ 1.14 | $ 170 2016 | $ 1.16 | $ 172 2017 | $ 1.49 | $ 216 Post-table: ['on november 2 , 2017 , the board declared a cash dividend of $ 0.40 per share that was paid on january 26 , 2018 to stockholders of record on december 29 , 2017 , for an aggregate amount of $ 55 million .', 'declaration and payment of future quarterly dividends is at the discretion of our board and may be adjusted as business needs or market conditions change .', 'stock repurchases in september 2014 , our board of directors replaced a previous share repurchase authorization of up to $ 1 billion ( of which $ 816 million remained unused ) with an authorization for repurchases of up to $ 2 billion of our common shares exclusive of shares repurchased in connection with employee stock plans , which expired on december 31 , 2016 .', 'under the share repurchase authorization , shares may have been purchased from time to time at prevailing prices in the open market , by block purchases , through plans designed to comply with rule 10b5-1 under the securities exchange act of 1934 , as amended , or in privately-negotiated transactions ( including pursuant to accelerated share repurchase agreements with investment banks ) , subject to certain regulatory restrictions on volume , pricing , and timing .', 'pursuant to the merger agreement , after july 2 , 2015 , we were prohibited from repurchasing any of our outstanding securities without the prior written consent of aetna , other than repurchases of shares of our common stock in connection with the exercise of outstanding stock options or the vesting or settlement of outstanding restricted stock awards .', 'accordingly , as announced on july 3 , 2015 , we suspended our share repurchase program .', 'on february 14 , 2017 , we and aetna agreed to mutually terminate the merger agreement .', 'we also announced that the board had approved a new authorization for share repurchases of up to $ 2.25 billion of our common stock exclusive of shares repurchased in connection with employee stock plans , expiring on december 31 , 2017 .', 'on february 16 , 2017 , we entered into an accelerated share repurchase agreement , the february 2017 asr , with goldman , sachs & co .', 'llc , or goldman sachs , to repurchase $ 1.5 billion of our common stock as part of the $ 2.25 billion share repurchase program referred to above .', 'on february 22 , 2017 , we made a payment of $ 1.5 billion to goldman sachs from available cash on hand and received an initial delivery of 5.83 million shares of our common stock from goldman sachs based on the then current market price of humana common stock .', 'the payment to goldman sachs was recorded as a reduction to stockholders 2019 equity , consisting of a $ 1.2 billion increase in treasury stock , which reflected the value of the initial 5.83 million shares received upon initial settlement , and a $ 300 million decrease in capital in excess of par value , which reflected the value of stock held back by goldman sachs pending final settlement of the february 2017 asr .', 'upon settlement of the february 2017 asr on august 28 , 2017 , we received an additional 0.84 million shares as determined by the average daily volume weighted-average share price of our common stock during the term of the agreement of $ 224.81 , bringing the total shares received under this program to 6.67 million .', 'in addition , upon settlement we reclassified the $ 300 million value of stock initially held back by goldman sachs from capital in excess of par value to treasury stock .', 'subsequent to settlement of the february 2017 asr , we repurchased an additional 3.04 million shares in the open market , utilizing the remaining $ 750 million of the $ 2.25 billion authorization prior to expiration. .']

0.66667

HUM/2017/page_133.pdf-1

['humana inc .', 'notes to consolidated financial statements 2014 ( continued ) 15 .', 'stockholders 2019 equity dividends the following table provides details of dividend payments , excluding dividend equivalent rights , in 2015 , 2016 , and 2017 under our board approved quarterly cash dividend policy : payment amount per share amount ( in millions ) .']

['on november 2 , 2017 , the board declared a cash dividend of $ 0.40 per share that was paid on january 26 , 2018 to stockholders of record on december 29 , 2017 , for an aggregate amount of $ 55 million .', 'declaration and payment of future quarterly dividends is at the discretion of our board and may be adjusted as business needs or market conditions change .', 'stock repurchases in september 2014 , our board of directors replaced a previous share repurchase authorization of up to $ 1 billion ( of which $ 816 million remained unused ) with an authorization for repurchases of up to $ 2 billion of our common shares exclusive of shares repurchased in connection with employee stock plans , which expired on december 31 , 2016 .', 'under the share repurchase authorization , shares may have been purchased from time to time at prevailing prices in the open market , by block purchases , through plans designed to comply with rule 10b5-1 under the securities exchange act of 1934 , as amended , or in privately-negotiated transactions ( including pursuant to accelerated share repurchase agreements with investment banks ) , subject to certain regulatory restrictions on volume , pricing , and timing .', 'pursuant to the merger agreement , after july 2 , 2015 , we were prohibited from repurchasing any of our outstanding securities without the prior written consent of aetna , other than repurchases of shares of our common stock in connection with the exercise of outstanding stock options or the vesting or settlement of outstanding restricted stock awards .', 'accordingly , as announced on july 3 , 2015 , we suspended our share repurchase program .', 'on february 14 , 2017 , we and aetna agreed to mutually terminate the merger agreement .', 'we also announced that the board had approved a new authorization for share repurchases of up to $ 2.25 billion of our common stock exclusive of shares repurchased in connection with employee stock plans , expiring on december 31 , 2017 .', 'on february 16 , 2017 , we entered into an accelerated share repurchase agreement , the february 2017 asr , with goldman , sachs & co .', 'llc , or goldman sachs , to repurchase $ 1.5 billion of our common stock as part of the $ 2.25 billion share repurchase program referred to above .', 'on february 22 , 2017 , we made a payment of $ 1.5 billion to goldman sachs from available cash on hand and received an initial delivery of 5.83 million shares of our common stock from goldman sachs based on the then current market price of humana common stock .', 'the payment to goldman sachs was recorded as a reduction to stockholders 2019 equity , consisting of a $ 1.2 billion increase in treasury stock , which reflected the value of the initial 5.83 million shares received upon initial settlement , and a $ 300 million decrease in capital in excess of par value , which reflected the value of stock held back by goldman sachs pending final settlement of the february 2017 asr .', 'upon settlement of the february 2017 asr on august 28 , 2017 , we received an additional 0.84 million shares as determined by the average daily volume weighted-average share price of our common stock during the term of the agreement of $ 224.81 , bringing the total shares received under this program to 6.67 million .', 'in addition , upon settlement we reclassified the $ 300 million value of stock initially held back by goldman sachs from capital in excess of par value to treasury stock .', 'subsequent to settlement of the february 2017 asr , we repurchased an additional 3.04 million shares in the open market , utilizing the remaining $ 750 million of the $ 2.25 billion authorization prior to expiration. .']

paymentdate | amountper share | totalamount ( in millions ) ----------|----------|---------- 2015 | $ 1.14 | $ 170 2016 | $ 1.16 | $ 172 2017 | $ 1.49 | $ 216

divide(1.5, 2.25)

0.66667

for rent expense for fiscal 2014 , 2013 and 2012 , what was the largest rent expense in thousands?

Background: ['adobe systems incorporated notes to consolidated financial statements ( continued ) note 15 .', 'commitments and contingencies lease commitments we lease certain of our facilities and some of our equipment under non-cancellable operating lease arrangements that expire at various dates through 2028 .', 'we also have one land lease that expires in 2091 .', 'rent expense includes base contractual rent and variable costs such as building expenses , utilities , taxes , insurance and equipment rental .', 'rent expense and sublease income for these leases for fiscal 2014 , 2013 and 2012 were as follows ( in thousands ) : .'] -- Tabular Data: ---------------------------------------- 2014 2013 2012 rent expense $ 111149 $ 118976 $ 105809 less : sublease income 1412 3057 2330 net rent expense $ 109737 $ 115919 $ 103479 ---------------------------------------- -- Additional Information: ['we occupy three office buildings in san jose , california where our corporate headquarters are located .', 'we reference these office buildings as the almaden tower and the east and west towers .', 'in august 2014 , we exercised our option to purchase the east and west towers for a total purchase price of $ 143.2 million .', 'upon purchase , our investment in the lease receivable of $ 126.8 million was credited against the total purchase price and we were no longer required to maintain a standby letter of credit as stipulated in the east and west towers lease agreement .', 'we capitalized the east and west towers as property and equipment on our consolidated balance sheets at $ 144.1 million , the lesser of cost or fair value , which represented the total purchase price plus other direct costs associated with the purchase .', 'see note 6 for discussion of our east and west towers purchase .', 'the lease agreement for the almaden tower is effective through march 2017 .', 'we are the investors in the lease receivable related to the almaden tower lease in the amount of $ 80.4 million , which is recorded as investment in lease receivable on our consolidated balance sheets .', 'as of november 28 , 2014 , the carrying value of the lease receivable related to the almaden tower approximated fair value .', 'under the agreement for the almaden tower , we have the option to purchase the building at any time during the lease term for $ 103.6 million .', 'if we purchase the building , the investment in the lease receivable may be credited against the purchase price .', 'the residual value guarantee under the almaden tower obligation is $ 89.4 million .', 'the almaden tower lease is subject to standard covenants including certain financial ratios that are reported to the lessor quarterly .', 'as of november 28 , 2014 , we were in compliance with all of the covenants .', 'in the case of a default , the lessor may demand we purchase the building for an amount equal to the lease balance , or require that we remarket or relinquish the building .', 'if we choose to remarket or are required to do so upon relinquishing the building , we are bound to arrange the sale of the building to an unrelated party and will be required to pay the lessor any shortfall between the net remarketing proceeds and the lease balance , up to the residual value guarantee amount less our investment in lease receivable .', 'the almaden tower lease qualifies for operating lease accounting treatment and , as such , the building and the related obligation are not included in our consolidated balance sheets .', 'see note 16 for discussion of our capital lease obligation .', 'unconditional purchase obligations our purchase obligations consist of agreements to purchase goods and services entered into in the ordinary course of business. .']

118976.0

ADBE/2014/page_99.pdf-1

['adobe systems incorporated notes to consolidated financial statements ( continued ) note 15 .', 'commitments and contingencies lease commitments we lease certain of our facilities and some of our equipment under non-cancellable operating lease arrangements that expire at various dates through 2028 .', 'we also have one land lease that expires in 2091 .', 'rent expense includes base contractual rent and variable costs such as building expenses , utilities , taxes , insurance and equipment rental .', 'rent expense and sublease income for these leases for fiscal 2014 , 2013 and 2012 were as follows ( in thousands ) : .']

['we occupy three office buildings in san jose , california where our corporate headquarters are located .', 'we reference these office buildings as the almaden tower and the east and west towers .', 'in august 2014 , we exercised our option to purchase the east and west towers for a total purchase price of $ 143.2 million .', 'upon purchase , our investment in the lease receivable of $ 126.8 million was credited against the total purchase price and we were no longer required to maintain a standby letter of credit as stipulated in the east and west towers lease agreement .', 'we capitalized the east and west towers as property and equipment on our consolidated balance sheets at $ 144.1 million , the lesser of cost or fair value , which represented the total purchase price plus other direct costs associated with the purchase .', 'see note 6 for discussion of our east and west towers purchase .', 'the lease agreement for the almaden tower is effective through march 2017 .', 'we are the investors in the lease receivable related to the almaden tower lease in the amount of $ 80.4 million , which is recorded as investment in lease receivable on our consolidated balance sheets .', 'as of november 28 , 2014 , the carrying value of the lease receivable related to the almaden tower approximated fair value .', 'under the agreement for the almaden tower , we have the option to purchase the building at any time during the lease term for $ 103.6 million .', 'if we purchase the building , the investment in the lease receivable may be credited against the purchase price .', 'the residual value guarantee under the almaden tower obligation is $ 89.4 million .', 'the almaden tower lease is subject to standard covenants including certain financial ratios that are reported to the lessor quarterly .', 'as of november 28 , 2014 , we were in compliance with all of the covenants .', 'in the case of a default , the lessor may demand we purchase the building for an amount equal to the lease balance , or require that we remarket or relinquish the building .', 'if we choose to remarket or are required to do so upon relinquishing the building , we are bound to arrange the sale of the building to an unrelated party and will be required to pay the lessor any shortfall between the net remarketing proceeds and the lease balance , up to the residual value guarantee amount less our investment in lease receivable .', 'the almaden tower lease qualifies for operating lease accounting treatment and , as such , the building and the related obligation are not included in our consolidated balance sheets .', 'see note 16 for discussion of our capital lease obligation .', 'unconditional purchase obligations our purchase obligations consist of agreements to purchase goods and services entered into in the ordinary course of business. .']

---------------------------------------- 2014 2013 2012 rent expense $ 111149 $ 118976 $ 105809 less : sublease income 1412 3057 2330 net rent expense $ 109737 $ 115919 $ 103479 ----------------------------------------

table_max(rent expense, none)

118976.0

what was the average entergy new orleans 2019s receivables from the money pool from 2008 to 2011

Background: ['entergy new orleans , inc .', 'management 2019s financial discussion and analysis also in addition to the contractual obligations , entergy new orleans has $ 53.7 million of unrecognized tax benefits and interest net of unused tax attributes and payments for which the timing of payments beyond 12 months cannot be reasonably estimated due to uncertainties in the timing of effective settlement of tax positions .', 'see note 3 to the financial statements for additional information regarding unrecognized tax benefits .', 'the planned capital investment estimate for entergy new orleans reflects capital required to support existing business .', 'the estimated capital expenditures are subject to periodic review and modification and may vary based on the ongoing effects of regulatory constraints , environmental compliance , market volatility , economic trends , changes in project plans , and the ability to access capital .', 'management provides more information on long-term debt and preferred stock maturities in notes 5 and 6 and to the financial statements .', 'as an indirect , wholly-owned subsidiary of entergy corporation , entergy new orleans pays dividends from its earnings at a percentage determined monthly .', 'entergy new orleans 2019s long-term debt indentures contain restrictions on the payment of cash dividends or other distributions on its common and preferred stock .', 'sources of capital entergy new orleans 2019s sources to meet its capital requirements include : internally generated funds ; cash on hand ; and debt and preferred stock issuances .', 'entergy new orleans may refinance , redeem , or otherwise retire debt and preferred stock prior to maturity , to the extent market conditions and interest and dividend rates are favorable .', 'entergy new orleans 2019s receivables from the money pool were as follows as of december 31 for each of the following years: .'] Tabular Data: ---------------------------------------- • 2011, 2010, 2009, 2008 • ( in thousands ), ( in thousands ), ( in thousands ), ( in thousands ) • $ 9074, $ 21820, $ 66149, $ 60093 ---------------------------------------- Follow-up: ['see note 4 to the financial statements for a description of the money pool .', 'entergy new orleans has obtained short-term borrowing authorization from the ferc under which it may borrow through october 2013 , up to the aggregate amount , at any one time outstanding , of $ 100 million .', 'see note 4 to the financial statements for further discussion of entergy new orleans 2019s short-term borrowing limits .', 'the long-term securities issuances of entergy new orleans are limited to amounts authorized by the city council , and the current authorization extends through july 2012 .', 'entergy louisiana 2019s ninemile point unit 6 self-build project in june 2011 , entergy louisiana filed with the lpsc an application seeking certification that the public necessity and convenience would be served by entergy louisiana 2019s construction of a combined-cycle gas turbine generating facility ( ninemile 6 ) at its existing ninemile point electric generating station .', 'ninemile 6 will be a nominally-sized 550 mw unit that is estimated to cost approximately $ 721 million to construct , excluding interconnection and transmission upgrades .', 'entergy gulf states louisiana joined in the application , seeking certification of its purchase under a life-of-unit power purchase agreement of up to 35% ( 35 % ) of the capacity and energy generated by ninemile 6 .', 'the ninemile 6 capacity and energy is proposed to be allocated 55% ( 55 % ) to entergy louisiana , 25% ( 25 % ) to entergy gulf states louisiana , and 20% ( 20 % ) to entergy new orleans .', 'in february 2012 the city council passed a resolution authorizing entergy new orleans to purchase 20% ( 20 % ) of the ninemile 6 energy and capacity .', 'if approvals are obtained from the lpsc and other permitting agencies , ninemile 6 construction is .']

78570.0

ETR/2011/page_364.pdf-3

['entergy new orleans , inc .', 'management 2019s financial discussion and analysis also in addition to the contractual obligations , entergy new orleans has $ 53.7 million of unrecognized tax benefits and interest net of unused tax attributes and payments for which the timing of payments beyond 12 months cannot be reasonably estimated due to uncertainties in the timing of effective settlement of tax positions .', 'see note 3 to the financial statements for additional information regarding unrecognized tax benefits .', 'the planned capital investment estimate for entergy new orleans reflects capital required to support existing business .', 'the estimated capital expenditures are subject to periodic review and modification and may vary based on the ongoing effects of regulatory constraints , environmental compliance , market volatility , economic trends , changes in project plans , and the ability to access capital .', 'management provides more information on long-term debt and preferred stock maturities in notes 5 and 6 and to the financial statements .', 'as an indirect , wholly-owned subsidiary of entergy corporation , entergy new orleans pays dividends from its earnings at a percentage determined monthly .', 'entergy new orleans 2019s long-term debt indentures contain restrictions on the payment of cash dividends or other distributions on its common and preferred stock .', 'sources of capital entergy new orleans 2019s sources to meet its capital requirements include : internally generated funds ; cash on hand ; and debt and preferred stock issuances .', 'entergy new orleans may refinance , redeem , or otherwise retire debt and preferred stock prior to maturity , to the extent market conditions and interest and dividend rates are favorable .', 'entergy new orleans 2019s receivables from the money pool were as follows as of december 31 for each of the following years: .']

['see note 4 to the financial statements for a description of the money pool .', 'entergy new orleans has obtained short-term borrowing authorization from the ferc under which it may borrow through october 2013 , up to the aggregate amount , at any one time outstanding , of $ 100 million .', 'see note 4 to the financial statements for further discussion of entergy new orleans 2019s short-term borrowing limits .', 'the long-term securities issuances of entergy new orleans are limited to amounts authorized by the city council , and the current authorization extends through july 2012 .', 'entergy louisiana 2019s ninemile point unit 6 self-build project in june 2011 , entergy louisiana filed with the lpsc an application seeking certification that the public necessity and convenience would be served by entergy louisiana 2019s construction of a combined-cycle gas turbine generating facility ( ninemile 6 ) at its existing ninemile point electric generating station .', 'ninemile 6 will be a nominally-sized 550 mw unit that is estimated to cost approximately $ 721 million to construct , excluding interconnection and transmission upgrades .', 'entergy gulf states louisiana joined in the application , seeking certification of its purchase under a life-of-unit power purchase agreement of up to 35% ( 35 % ) of the capacity and energy generated by ninemile 6 .', 'the ninemile 6 capacity and energy is proposed to be allocated 55% ( 55 % ) to entergy louisiana , 25% ( 25 % ) to entergy gulf states louisiana , and 20% ( 20 % ) to entergy new orleans .', 'in february 2012 the city council passed a resolution authorizing entergy new orleans to purchase 20% ( 20 % ) of the ninemile 6 energy and capacity .', 'if approvals are obtained from the lpsc and other permitting agencies , ninemile 6 construction is .']

---------------------------------------- • 2011, 2010, 2009, 2008 • ( in thousands ), ( in thousands ), ( in thousands ), ( in thousands ) • $ 9074, $ 21820, $ 66149, $ 60093 ----------------------------------------

add(9074, 21820), add(66149, #0), add(60093, #1), add(#2, const_4), divide(#3, const_2)

78570.0

what percentage of future minimum lease commitments at december 31 , 2006 for all operating leases that have a remaining term of more than one year are due in 2007?

Context: ['the defined benefit pension plans 2019 trust and $ 130 million to our retiree medical plans which will reduce our cash funding requirements for 2007 and 2008 .', 'in 2007 , we expect to make no contributions to the defined benefit pension plans and expect to contribute $ 175 million to the retiree medical and life insurance plans , after giving consideration to the 2006 prepayments .', 'the following benefit payments , which reflect expected future service , as appropriate , are expected to be paid : ( in millions ) pension benefits benefits .'] Table: ( in millions ) | pensionbenefits | otherbenefits ----------|----------|---------- 2007 | $ 1440 | $ 260 2008 | 1490 | 260 2009 | 1540 | 270 2010 | 1600 | 270 2011 | 1660 | 270 years 2012 2013 2016 | 9530 | 1260 Post-table: ['as noted previously , we also sponsor nonqualified defined benefit plans to provide benefits in excess of qualified plan limits .', 'the aggregate liabilities for these plans at december 31 , 2006 were $ 641 million .', 'the expense associated with these plans totaled $ 59 million in 2006 , $ 58 million in 2005 and $ 61 million in 2004 .', 'we also sponsor a small number of foreign benefit plans .', 'the liabilities and expenses associated with these plans are not material to our results of operations , financial position or cash flows .', 'note 13 2013 leases our total rental expense under operating leases was $ 310 million , $ 324 million and $ 318 million for 2006 , 2005 and 2004 , respectively .', 'future minimum lease commitments at december 31 , 2006 for all operating leases that have a remaining term of more than one year were $ 1.1 billion ( $ 288 million in 2007 , $ 254 million in 2008 , $ 211 million in 2009 , $ 153 million in 2010 , $ 118 million in 2011 and $ 121 million in later years ) .', 'certain major plant facilities and equipment are furnished by the u.s .', 'government under short-term or cancelable arrangements .', 'note 14 2013 legal proceedings , commitments and contingencies we are a party to or have property subject to litigation and other proceedings , including matters arising under provisions relating to the protection of the environment .', 'we believe the probability is remote that the outcome of these matters will have a material adverse effect on the corporation as a whole .', 'we cannot predict the outcome of legal proceedings with certainty .', 'these matters include the following items , all of which have been previously reported : on march 27 , 2006 , we received a subpoena issued by a grand jury in the united states district court for the northern district of ohio .', 'the subpoena requests documents related to our application for patents issued in the united states and the united kingdom relating to a missile detection and warning technology .', 'we are cooperating with the government 2019s investigation .', 'on february 6 , 2004 , we submitted a certified contract claim to the united states requesting contractual indemnity for remediation and litigation costs ( past and future ) related to our former facility in redlands , california .', 'we submitted the claim consistent with a claim sponsorship agreement with the boeing company ( boeing ) , executed in 2001 , in boeing 2019s role as the prime contractor on the short range attack missile ( sram ) program .', 'the contract for the sram program , which formed a significant portion of our work at the redlands facility , had special contractual indemnities from the u.s .', 'air force , as authorized by public law 85-804 .', 'on august 31 , 2004 , the united states denied the claim .', 'our appeal of that decision is pending with the armed services board of contract appeals .', 'on august 28 , 2003 , the department of justice ( the doj ) filed complaints in partial intervention in two lawsuits filed under the qui tam provisions of the civil false claims act in the united states district court for the western district of kentucky , united states ex rel .', 'natural resources defense council , et al v .', 'lockheed martin corporation , et al , and united states ex rel .', 'john d .', 'tillson v .', 'lockheed martin energy systems , inc. , et al .', 'the doj alleges that we committed violations of the resource conservation and recovery act at the paducah gaseous diffusion plant by not properly handling , storing .']

0.26182

LMT/2006/page_90.pdf-1

['the defined benefit pension plans 2019 trust and $ 130 million to our retiree medical plans which will reduce our cash funding requirements for 2007 and 2008 .', 'in 2007 , we expect to make no contributions to the defined benefit pension plans and expect to contribute $ 175 million to the retiree medical and life insurance plans , after giving consideration to the 2006 prepayments .', 'the following benefit payments , which reflect expected future service , as appropriate , are expected to be paid : ( in millions ) pension benefits benefits .']

['as noted previously , we also sponsor nonqualified defined benefit plans to provide benefits in excess of qualified plan limits .', 'the aggregate liabilities for these plans at december 31 , 2006 were $ 641 million .', 'the expense associated with these plans totaled $ 59 million in 2006 , $ 58 million in 2005 and $ 61 million in 2004 .', 'we also sponsor a small number of foreign benefit plans .', 'the liabilities and expenses associated with these plans are not material to our results of operations , financial position or cash flows .', 'note 13 2013 leases our total rental expense under operating leases was $ 310 million , $ 324 million and $ 318 million for 2006 , 2005 and 2004 , respectively .', 'future minimum lease commitments at december 31 , 2006 for all operating leases that have a remaining term of more than one year were $ 1.1 billion ( $ 288 million in 2007 , $ 254 million in 2008 , $ 211 million in 2009 , $ 153 million in 2010 , $ 118 million in 2011 and $ 121 million in later years ) .', 'certain major plant facilities and equipment are furnished by the u.s .', 'government under short-term or cancelable arrangements .', 'note 14 2013 legal proceedings , commitments and contingencies we are a party to or have property subject to litigation and other proceedings , including matters arising under provisions relating to the protection of the environment .', 'we believe the probability is remote that the outcome of these matters will have a material adverse effect on the corporation as a whole .', 'we cannot predict the outcome of legal proceedings with certainty .', 'these matters include the following items , all of which have been previously reported : on march 27 , 2006 , we received a subpoena issued by a grand jury in the united states district court for the northern district of ohio .', 'the subpoena requests documents related to our application for patents issued in the united states and the united kingdom relating to a missile detection and warning technology .', 'we are cooperating with the government 2019s investigation .', 'on february 6 , 2004 , we submitted a certified contract claim to the united states requesting contractual indemnity for remediation and litigation costs ( past and future ) related to our former facility in redlands , california .', 'we submitted the claim consistent with a claim sponsorship agreement with the boeing company ( boeing ) , executed in 2001 , in boeing 2019s role as the prime contractor on the short range attack missile ( sram ) program .', 'the contract for the sram program , which formed a significant portion of our work at the redlands facility , had special contractual indemnities from the u.s .', 'air force , as authorized by public law 85-804 .', 'on august 31 , 2004 , the united states denied the claim .', 'our appeal of that decision is pending with the armed services board of contract appeals .', 'on august 28 , 2003 , the department of justice ( the doj ) filed complaints in partial intervention in two lawsuits filed under the qui tam provisions of the civil false claims act in the united states district court for the western district of kentucky , united states ex rel .', 'natural resources defense council , et al v .', 'lockheed martin corporation , et al , and united states ex rel .', 'john d .', 'tillson v .', 'lockheed martin energy systems , inc. , et al .', 'the doj alleges that we committed violations of the resource conservation and recovery act at the paducah gaseous diffusion plant by not properly handling , storing .']

( in millions ) | pensionbenefits | otherbenefits ----------|----------|---------- 2007 | $ 1440 | $ 260 2008 | 1490 | 260 2009 | 1540 | 270 2010 | 1600 | 270 2011 | 1660 | 270 years 2012 2013 2016 | 9530 | 1260

multiply(1.1, const_1000), divide(288, #0)

0.26182

how much of the softer assets acquired were hard assets?

Context: ['table of contents 4 .', 'acquisitions , dispositions and plant closures acquisitions 2022 so.f.ter .', 's.p.a .', 'on december 1 , 2016 , the company acquired 100% ( 100 % ) of the stock of the forli , italy based so.f.ter .', 's.p.a .', '( "softer" ) , a leading thermoplastic compounder .', "the acquisition of softer increases the company's global engineered materials product platforms , extends the operational model , technical and industry solutions capabilities and expands project pipelines .", 'the acquisition was accounted for as a business combination and the acquired operations are included in the advanced engineered materials segment .', "pro forma financial information since the respective acquisition date has not been provided as the acquisition did not have a material impact on the company's financial information .", 'the company allocated the purchase price of the acquisition to identifiable assets acquired and liabilities assumed based on their estimated fair values as of the acquisition date .', 'the excess of the purchase price over the aggregate fair values was recorded as goodwill ( note 2 and note 11 ) .', 'the company calculated the fair value of the assets acquired using the income , market , or cost approach ( or a combination thereof ) .', 'fair values were determined based on level 3 inputs ( note 2 ) including estimated future cash flows , discount rates , royalty rates , growth rates , sales projections , retention rates and terminal values , all of which require significant management judgment and are susceptible to change .', 'the purchase price allocation is based upon preliminary information and is subject to change if additional information about the facts and circumstances that existed at the acquisition date becomes available .', 'the final fair value of the net assets acquired may result in adjustments to the assets and liabilities , including goodwill .', "however , any subsequent measurement period adjustments are not expected to have a material impact on the company's results of operations .", 'the preliminary purchase price allocation for the softer acquisition is as follows : december 1 , 2016 ( in $ millions ) .'] Table: ---------------------------------------- , as ofdecember 1 2016 ( in $ millions ) cash and cash equivalents, 11 trade receivables - third party and affiliates, 53 inventories, 58 property plant and equipment net, 68 intangible assets ( note 11 ), 79 goodwill ( note 11 ) ( 1 ), 106 other assets ( 2 ), 33 total fair value of assets acquired, 408 trade payables - third party and affiliates, -41 ( 41 ) total debt ( note 14 ), -103 ( 103 ) deferred income taxes, -30 ( 30 ) other liabilities, -45 ( 45 ) total fair value of liabilities assumed, -219 ( 219 ) net assets acquired, 189 ---------------------------------------- Additional Information: ['______________________________ ( 1 ) goodwill consists of expected revenue and operating synergies resulting from the acquisition .', 'none of the goodwill is deductible for income tax purposes .', '( 2 ) includes a $ 23 million indemnity receivable for uncertain tax positions related to the acquisition .', 'transaction related costs of $ 3 million were expensed as incurred to selling , general and administrative expenses in the consolidated statements of operations .', "the amount of pro forma net earnings ( loss ) of softer included in the company's consolidated statement of operations was approximately 2% ( 2 % ) ( unaudited ) of its consolidated net earnings ( loss ) had the acquisition occurred as of the beginning of 2016 .", 'the amount of softer net earnings ( loss ) consolidated by the company since the acquisition date was not material. .']

0.16667

CE/2016/page_88.pdf-2

['table of contents 4 .', 'acquisitions , dispositions and plant closures acquisitions 2022 so.f.ter .', 's.p.a .', 'on december 1 , 2016 , the company acquired 100% ( 100 % ) of the stock of the forli , italy based so.f.ter .', 's.p.a .', '( "softer" ) , a leading thermoplastic compounder .', "the acquisition of softer increases the company's global engineered materials product platforms , extends the operational model , technical and industry solutions capabilities and expands project pipelines .", 'the acquisition was accounted for as a business combination and the acquired operations are included in the advanced engineered materials segment .', "pro forma financial information since the respective acquisition date has not been provided as the acquisition did not have a material impact on the company's financial information .", 'the company allocated the purchase price of the acquisition to identifiable assets acquired and liabilities assumed based on their estimated fair values as of the acquisition date .', 'the excess of the purchase price over the aggregate fair values was recorded as goodwill ( note 2 and note 11 ) .', 'the company calculated the fair value of the assets acquired using the income , market , or cost approach ( or a combination thereof ) .', 'fair values were determined based on level 3 inputs ( note 2 ) including estimated future cash flows , discount rates , royalty rates , growth rates , sales projections , retention rates and terminal values , all of which require significant management judgment and are susceptible to change .', 'the purchase price allocation is based upon preliminary information and is subject to change if additional information about the facts and circumstances that existed at the acquisition date becomes available .', 'the final fair value of the net assets acquired may result in adjustments to the assets and liabilities , including goodwill .', "however , any subsequent measurement period adjustments are not expected to have a material impact on the company's results of operations .", 'the preliminary purchase price allocation for the softer acquisition is as follows : december 1 , 2016 ( in $ millions ) .']

['______________________________ ( 1 ) goodwill consists of expected revenue and operating synergies resulting from the acquisition .', 'none of the goodwill is deductible for income tax purposes .', '( 2 ) includes a $ 23 million indemnity receivable for uncertain tax positions related to the acquisition .', 'transaction related costs of $ 3 million were expensed as incurred to selling , general and administrative expenses in the consolidated statements of operations .', "the amount of pro forma net earnings ( loss ) of softer included in the company's consolidated statement of operations was approximately 2% ( 2 % ) ( unaudited ) of its consolidated net earnings ( loss ) had the acquisition occurred as of the beginning of 2016 .", 'the amount of softer net earnings ( loss ) consolidated by the company since the acquisition date was not material. .']

---------------------------------------- , as ofdecember 1 2016 ( in $ millions ) cash and cash equivalents, 11 trade receivables - third party and affiliates, 53 inventories, 58 property plant and equipment net, 68 intangible assets ( note 11 ), 79 goodwill ( note 11 ) ( 1 ), 106 other assets ( 2 ), 33 total fair value of assets acquired, 408 trade payables - third party and affiliates, -41 ( 41 ) total debt ( note 14 ), -103 ( 103 ) deferred income taxes, -30 ( 30 ) other liabilities, -45 ( 45 ) total fair value of liabilities assumed, -219 ( 219 ) net assets acquired, 189 ----------------------------------------

divide(68, 408)

0.16667

what is percentage change in fair value of net assets denominated in foreign currencies from 2007 to 2008?

Pre-text: ['foreign currency exchange rate risk many of our non-u.s .', 'companies maintain both assets and liabilities in local currencies .', 'therefore , foreign exchange rate risk is generally limited to net assets denominated in those foreign currencies .', 'foreign exchange rate risk is reviewed as part of our risk management process .', 'locally required capital levels are invested in home currencies in order to satisfy regulatory require- ments and to support local insurance operations regardless of currency fluctuations .', 'the principal currencies creating foreign exchange risk for us are the british pound sterling , the euro , and the canadian dollar .', 'the following table provides more information on our exposure to foreign exchange rate risk at december 31 , 2008 and 2007. .'] Data Table: Row 1: ( in millions of u.s . dollars ), 2008, 2007 Row 2: fair value of net assets denominated in foreign currencies, $ 1127, $ 1651 Row 3: percentage of fair value of total net assets, 7.8% ( 7.8 % ), 9.9% ( 9.9 % ) Row 4: pre-tax impact on equity of hypothetical 10 percent strengthening of the u.s . dollar, $ 84, $ 150 Post-table: ['reinsurance of gmdb and gmib guarantees our net income is directly impacted by changes in the reserves calculated in connection with the reinsurance of variable annuity guarantees , primarily gmdb and gmib .', 'these reserves are calculated in accordance with sop 03-1 ( sop reserves ) and changes in these reserves are reflected as life and annuity benefit expense , which is included in life underwriting income .', 'in addition , our net income is directly impacted by the change in the fair value of the gmib liability ( fvl ) , which is classified as a derivative according to fas 133 .', 'the fair value liability established for a gmib reinsurance contract represents the differ- ence between the fair value of the contract and the sop 03-1 reserves .', 'changes in the fair value of the gmib liability , net of associated changes in the calculated sop 03-1 reserve , are reflected as realized gains or losses .', 'ace views our variable annuity reinsurance business as having a similar risk profile to that of catastrophe reinsurance , with the probability of long-term economic loss relatively small at the time of pricing .', 'adverse changes in market factors and policyholder behavior will have an impact on both life underwriting income and net income .', 'when evaluating these risks , we expect to be compensated for taking both the risk of a cumulative long-term economic net loss , as well as the short-term accounting variations caused by these market movements .', 'therefore , we evaluate this business in terms of its long-term eco- nomic risk and reward .', 'the ultimate risk to the variable annuity guaranty reinsurance business is a long-term underperformance of investment returns , which can be exacerbated by a long-term reduction in interest rates .', 'following a market downturn , continued market underperformance over a period of five to seven years would eventually result in a higher level of paid claims as policyholders accessed their guarantees through death or annuitization .', 'however , if market conditions improved following a downturn , sop 03-1 reserves and fair value liability would fall reflecting a decreased likelihood of future claims , which would result in an increase in both life underwriting income and net income .', 'as of december 31 , 2008 , management established the sop 03-1 reserve based on the benefit ratio calculated using actual market values at december 31 , 2008 .', 'management exercises judgment in determining the extent to which short-term market movements impact the sop 03-1 reserve .', 'the sop 03-1 reserve is based on the calculation of a long-term benefit ratio ( or loss ratio ) for the variable annuity guarantee reinsurance .', 'despite the long-term nature of the risk the benefit ratio calculation is impacted by short-term market movements that may be judged by management to be temporary or transient .', 'management will , in keeping with the language in sop 03-1 , regularly examine both quantitative and qualitative analysis and management will determine if , in its judgment , the change in the calculated benefit ratio is of sufficient magnitude and has persisted for a sufficient duration to warrant a change in the benefit ratio used to establish the sop 03-1 reserve .', 'this has no impact on either premium received or claims paid nor does it impact the long-term profit or loss of the variable annuity guaran- tee reinsurance .', 'the sop 03-1 reserve and fair value liability calculations are directly affected by market factors , including equity levels , interest rate levels , credit risk and implied volatilities , as well as policyholder behaviors , such as annuitization and lapse rates .', 'the table below shows the sensitivity , as of december 31 , 2008 , of the sop 03-1 reserves and fair value liability associated with the variable annuity guarantee reinsurance portfolio .', 'in addition , the tables below show the sensitivity of the fair value of specific derivative instruments held ( hedge value ) , which includes instruments purchased in january 2009 , to partially offset the risk in the variable annuity guarantee reinsurance portfolio .', 'although these derivatives do not receive hedge accounting treatment , some portion of the change in value may be used to offset changes in the sop 03-1 reserve. .']

-0.31738

CB/2008/page_144.pdf-2

['foreign currency exchange rate risk many of our non-u.s .', 'companies maintain both assets and liabilities in local currencies .', 'therefore , foreign exchange rate risk is generally limited to net assets denominated in those foreign currencies .', 'foreign exchange rate risk is reviewed as part of our risk management process .', 'locally required capital levels are invested in home currencies in order to satisfy regulatory require- ments and to support local insurance operations regardless of currency fluctuations .', 'the principal currencies creating foreign exchange risk for us are the british pound sterling , the euro , and the canadian dollar .', 'the following table provides more information on our exposure to foreign exchange rate risk at december 31 , 2008 and 2007. .']

['reinsurance of gmdb and gmib guarantees our net income is directly impacted by changes in the reserves calculated in connection with the reinsurance of variable annuity guarantees , primarily gmdb and gmib .', 'these reserves are calculated in accordance with sop 03-1 ( sop reserves ) and changes in these reserves are reflected as life and annuity benefit expense , which is included in life underwriting income .', 'in addition , our net income is directly impacted by the change in the fair value of the gmib liability ( fvl ) , which is classified as a derivative according to fas 133 .', 'the fair value liability established for a gmib reinsurance contract represents the differ- ence between the fair value of the contract and the sop 03-1 reserves .', 'changes in the fair value of the gmib liability , net of associated changes in the calculated sop 03-1 reserve , are reflected as realized gains or losses .', 'ace views our variable annuity reinsurance business as having a similar risk profile to that of catastrophe reinsurance , with the probability of long-term economic loss relatively small at the time of pricing .', 'adverse changes in market factors and policyholder behavior will have an impact on both life underwriting income and net income .', 'when evaluating these risks , we expect to be compensated for taking both the risk of a cumulative long-term economic net loss , as well as the short-term accounting variations caused by these market movements .', 'therefore , we evaluate this business in terms of its long-term eco- nomic risk and reward .', 'the ultimate risk to the variable annuity guaranty reinsurance business is a long-term underperformance of investment returns , which can be exacerbated by a long-term reduction in interest rates .', 'following a market downturn , continued market underperformance over a period of five to seven years would eventually result in a higher level of paid claims as policyholders accessed their guarantees through death or annuitization .', 'however , if market conditions improved following a downturn , sop 03-1 reserves and fair value liability would fall reflecting a decreased likelihood of future claims , which would result in an increase in both life underwriting income and net income .', 'as of december 31 , 2008 , management established the sop 03-1 reserve based on the benefit ratio calculated using actual market values at december 31 , 2008 .', 'management exercises judgment in determining the extent to which short-term market movements impact the sop 03-1 reserve .', 'the sop 03-1 reserve is based on the calculation of a long-term benefit ratio ( or loss ratio ) for the variable annuity guarantee reinsurance .', 'despite the long-term nature of the risk the benefit ratio calculation is impacted by short-term market movements that may be judged by management to be temporary or transient .', 'management will , in keeping with the language in sop 03-1 , regularly examine both quantitative and qualitative analysis and management will determine if , in its judgment , the change in the calculated benefit ratio is of sufficient magnitude and has persisted for a sufficient duration to warrant a change in the benefit ratio used to establish the sop 03-1 reserve .', 'this has no impact on either premium received or claims paid nor does it impact the long-term profit or loss of the variable annuity guaran- tee reinsurance .', 'the sop 03-1 reserve and fair value liability calculations are directly affected by market factors , including equity levels , interest rate levels , credit risk and implied volatilities , as well as policyholder behaviors , such as annuitization and lapse rates .', 'the table below shows the sensitivity , as of december 31 , 2008 , of the sop 03-1 reserves and fair value liability associated with the variable annuity guarantee reinsurance portfolio .', 'in addition , the tables below show the sensitivity of the fair value of specific derivative instruments held ( hedge value ) , which includes instruments purchased in january 2009 , to partially offset the risk in the variable annuity guarantee reinsurance portfolio .', 'although these derivatives do not receive hedge accounting treatment , some portion of the change in value may be used to offset changes in the sop 03-1 reserve. .']

Row 1: ( in millions of u.s . dollars ), 2008, 2007 Row 2: fair value of net assets denominated in foreign currencies, $ 1127, $ 1651 Row 3: percentage of fair value of total net assets, 7.8% ( 7.8 % ), 9.9% ( 9.9 % ) Row 4: pre-tax impact on equity of hypothetical 10 percent strengthening of the u.s . dollar, $ 84, $ 150

subtract(1127, 1651), divide(#0, 1651)

-0.31738

for the year ended december 31 2015 what was the ratio of the depreciation and amortization in the large market same store to the secondary market same store

Pre-text: ['the increase in property operating expenses from our large market same store group is primarily the result of increases in real estate taxes of $ 3.2 million , personnel expenses of $ 1.9 million , water expenses of approximately $ 1.0 million , cable expenses of $ 0.5 million , and waste removal expenses of $ 0.2 million .', 'the increase in property operating expenses from our secondary market same store group is primarily a result of increases in other operating expenses of $ 1.5 million , real estate taxes of $ 1.1 million , and personnel expenses of $ 1.2 million .', 'the decrease in property operating expenses from our non-same store and other group is primarily the result of decreases in personnel expenses of $ 2.4 million and utility expenses of $ 1.7 million .', 'depreciation and amortization the following table shows our depreciation and amortization expense by segment for the years ended december 31 , 2015 and december 31 , 2014 ( dollars in thousands ) : year ended december 31 , 2015 year ended december 31 , 2014 increase percentage increase .'] Data Table: ---------------------------------------- Row 1: , year ended december 31 2015, year ended december 31 2014, increase, percentage increase Row 2: large market same store, $ 168872, $ 174957, $ -6085 ( 6085 ), ( 3.5 ) % ( % ) Row 3: secondary market same store, 85008, 86058, -1050 ( 1050 ), ( 1.2 ) % ( % ) Row 4: same store portfolio, 253880, 261015, -7135 ( 7135 ), ( 2.7 ) % ( % ) Row 5: non-same store and other, 40640, 40797, -157 ( 157 ), ( 0.4 ) % ( % ) Row 6: total, $ 294520, $ 301812, $ -7292 ( 7292 ), ( 2.4 ) % ( % ) ---------------------------------------- Additional Information: ['the decrease in depreciation and amortization expense is primarily due to a decrease of $ 19.4 million related to the amortization of the fair value of in-place leases and resident relationships acquired as a result of the merger from the year ended december 31 , 2014 to the year ended december 31 , 2015 .', 'this decrease was partially offset by an increase in depreciation expense of $ 11.7 million driven by an increase in gross real estate assets from the year ended december 31 , 2014 to the year ended december 31 , 2015 .', 'property management expenses property management expenses for the year ended december 31 , 2015 were approximately $ 31.0 million , a decrease of $ 1.1 million from the year ended december 31 , 2014 .', 'the majority of the decrease was related to a decrease in state franchise taxes of $ 2.1 million , partially offset by an increase in insurance expense of $ 0.6 million , an increase in payroll expense of $ 0.3 million , and an increase in incentive expense $ 0.3 million .', 'general and administrative expenses general and administrative expenses for the year ended december 31 , 2015 were approximately $ 25.7 million , an increase of $ 4.8 million from the year ended december 31 , 2014 .', 'the majority of the increase was related to increases in legal fees of $ 2.7 million and stock option expenses of $ 1.6 million .', 'merger and integration related expenses there were no merger or integration related expenses for the year ended december 31 , 2015 , as these expenses related primarily to severance , legal , professional , temporary systems , staffing , and facilities costs incurred for the acquisition and integration of colonial .', 'for the year ended december 31 , 2014 , merger and integration related expenses were approximately $ 3.2 million and $ 8.4 million , respectively .', 'interest expense interest expense for the year ended december 31 , 2015 was approximately $ 122.3 million , a decrease of $ 1.6 million from the year ended december 31 , 2014 .', 'the decrease was primarily the result of a decrease in amortization of deferred financing cost from the year ended december 31 , 2014 to the year ended december 31 , 2015 of approximately $ 0.9 million .', 'also , the overall debt balance decreased from $ 3.5 billion to $ 3.4 billion , a decrease of $ 85.1 million .', 'the average effective interest rate remained at 3.7% ( 3.7 % ) and the average years to rate maturity increased from 4.4 years to 4.8 years .', 'job title mid-america apartment 10-k revision 1 serial <12345678> date sunday , march 20 , 2016 job number 304352-1 type page no .', '50 operator abigaels .']

1.98654

MAA/2015/page_56.pdf-1

['the increase in property operating expenses from our large market same store group is primarily the result of increases in real estate taxes of $ 3.2 million , personnel expenses of $ 1.9 million , water expenses of approximately $ 1.0 million , cable expenses of $ 0.5 million , and waste removal expenses of $ 0.2 million .', 'the increase in property operating expenses from our secondary market same store group is primarily a result of increases in other operating expenses of $ 1.5 million , real estate taxes of $ 1.1 million , and personnel expenses of $ 1.2 million .', 'the decrease in property operating expenses from our non-same store and other group is primarily the result of decreases in personnel expenses of $ 2.4 million and utility expenses of $ 1.7 million .', 'depreciation and amortization the following table shows our depreciation and amortization expense by segment for the years ended december 31 , 2015 and december 31 , 2014 ( dollars in thousands ) : year ended december 31 , 2015 year ended december 31 , 2014 increase percentage increase .']

['the decrease in depreciation and amortization expense is primarily due to a decrease of $ 19.4 million related to the amortization of the fair value of in-place leases and resident relationships acquired as a result of the merger from the year ended december 31 , 2014 to the year ended december 31 , 2015 .', 'this decrease was partially offset by an increase in depreciation expense of $ 11.7 million driven by an increase in gross real estate assets from the year ended december 31 , 2014 to the year ended december 31 , 2015 .', 'property management expenses property management expenses for the year ended december 31 , 2015 were approximately $ 31.0 million , a decrease of $ 1.1 million from the year ended december 31 , 2014 .', 'the majority of the decrease was related to a decrease in state franchise taxes of $ 2.1 million , partially offset by an increase in insurance expense of $ 0.6 million , an increase in payroll expense of $ 0.3 million , and an increase in incentive expense $ 0.3 million .', 'general and administrative expenses general and administrative expenses for the year ended december 31 , 2015 were approximately $ 25.7 million , an increase of $ 4.8 million from the year ended december 31 , 2014 .', 'the majority of the increase was related to increases in legal fees of $ 2.7 million and stock option expenses of $ 1.6 million .', 'merger and integration related expenses there were no merger or integration related expenses for the year ended december 31 , 2015 , as these expenses related primarily to severance , legal , professional , temporary systems , staffing , and facilities costs incurred for the acquisition and integration of colonial .', 'for the year ended december 31 , 2014 , merger and integration related expenses were approximately $ 3.2 million and $ 8.4 million , respectively .', 'interest expense interest expense for the year ended december 31 , 2015 was approximately $ 122.3 million , a decrease of $ 1.6 million from the year ended december 31 , 2014 .', 'the decrease was primarily the result of a decrease in amortization of deferred financing cost from the year ended december 31 , 2014 to the year ended december 31 , 2015 of approximately $ 0.9 million .', 'also , the overall debt balance decreased from $ 3.5 billion to $ 3.4 billion , a decrease of $ 85.1 million .', 'the average effective interest rate remained at 3.7% ( 3.7 % ) and the average years to rate maturity increased from 4.4 years to 4.8 years .', 'job title mid-america apartment 10-k revision 1 serial <12345678> date sunday , march 20 , 2016 job number 304352-1 type page no .', '50 operator abigaels .']

---------------------------------------- Row 1: , year ended december 31 2015, year ended december 31 2014, increase, percentage increase Row 2: large market same store, $ 168872, $ 174957, $ -6085 ( 6085 ), ( 3.5 ) % ( % ) Row 3: secondary market same store, 85008, 86058, -1050 ( 1050 ), ( 1.2 ) % ( % ) Row 4: same store portfolio, 253880, 261015, -7135 ( 7135 ), ( 2.7 ) % ( % ) Row 5: non-same store and other, 40640, 40797, -157 ( 157 ), ( 0.4 ) % ( % ) Row 6: total, $ 294520, $ 301812, $ -7292 ( 7292 ), ( 2.4 ) % ( % ) ----------------------------------------

divide(168872, 85008)

1.98654

what is the percentage change in statutory surplus from 2011 to 2012?

Background: ['table of contents statutory surplus the table below sets forth statutory surplus for the company 2019s insurance companies as of december 31 , 2012 and 2011: .'] Table: ======================================== 2012 2011 u.s . life insurance subsidiaries includes domestic captive insurance subsidiaries $ 6410 $ 7388 property and casualty insurance subsidiaries 7645 7412 total $ 14055 $ 14800 ======================================== Follow-up: ['statutory capital and surplus for the u.s .', 'life insurance subsidiaries , including domestic captive insurance subsidiaries , decreased by $ 978 , primarily due to variable annuity surplus impacts of approximately $ 425 , a $ 200 increase in reserves on a change in valuation basis , $ 200 transfer of the mutual funds business from the u.s .', 'life insurance companies to the life holding company , and an increase in the asset valuation reserve of $ 115 .', "as a result of the january 2013 statutory gain from the sale of the retirement plans and individual life businesses , the company's pro forma january 2 , 2013 u.s .", 'life statutory surplus was estimated to be $ 8.1 billion , before approximately $ 1.5 billion in extraordinary dividends and return of capital to hfsg holding company .', 'statutory capital and surplus for the property and casualty insurance subsidiaries increased by $ 233 , primarily due to statutory net income , after tax , of $ 727 , unrealized gains of $ 249 , and an increase in statutory admitted deferred tax assets of $ 77 , capital contributions of $ 14 , and an increase of statutory admitted assets of $ 7 , partially offset by dividends to the hfsg holding company of $ 841 .', 'both net income and dividends are net of interest payments and dividends , respectively , on an intercompany note between hartford holdings , inc .', 'and hartford fire insurance company .', 'the company also holds regulatory capital and surplus for its operations in japan .', 'under the accounting practices and procedures governed by japanese regulatory authorities , the company 2019s statutory capital and surplus was $ 1.1 billion and $ 1.3 billion as of december 31 , 2012 and 2011 , respectively .', 'statutory capital the company 2019s stockholders 2019 equity , as prepared using u.s .', 'generally accepted accounting principles ( 201cu.s .', 'gaap 201d ) was $ 22.4 billion as of december 31 , 2012 .', 'the company 2019s estimated aggregate statutory capital and surplus , as prepared in accordance with the national association of insurance commissioners 2019 accounting practices and procedures manual ( 201cu.s .', 'stat 201d ) was $ 14.1 billion as of december 31 , 2012 .', 'significant differences between u.s .', 'gaap stockholders 2019 equity and aggregate statutory capital and surplus prepared in accordance with u.s .', 'stat include the following : 2022 u.s .', 'stat excludes equity of non-insurance and foreign insurance subsidiaries not held by u.s .', 'insurance subsidiaries .', '2022 costs incurred by the company to acquire insurance policies are deferred under u.s .', 'gaap while those costs are expensed immediately under u.s .', '2022 temporary differences between the book and tax basis of an asset or liability which are recorded as deferred tax assets are evaluated for recoverability under u.s .', 'gaap while those amounts deferred are subject to limitations under u.s .', 'stat .', '2022 the assumptions used in the determination of life benefit reserves is prescribed under u.s .', 'stat , while the assumptions used under u.s .', 'gaap are generally the company 2019s best estimates .', 'the methodologies for determining life insurance reserve amounts may also be different .', 'for example , reserving for living benefit reserves under u.s .', 'stat is generally addressed by the commissioners 2019 annuity reserving valuation methodology and the related actuarial guidelines , while under u.s .', 'gaap , those same living benefits may be considered embedded derivatives and recorded at fair value or they may be considered sop 03-1 reserves .', 'the sensitivity of these life insurance reserves to changes in equity markets , as applicable , will be different between u.s .', 'gaap and u.s .', 'stat .', '2022 the difference between the amortized cost and fair value of fixed maturity and other investments , net of tax , is recorded as an increase or decrease to the carrying value of the related asset and to equity under u.s .', 'gaap , while u.s .', 'stat only records certain securities at fair value , such as equity securities and certain lower rated bonds required by the naic to be recorded at the lower of amortized cost or fair value .', '2022 u.s .', 'stat for life insurance companies establishes a formula reserve for realized and unrealized losses due to default and equity risks associated with certain invested assets ( the asset valuation reserve ) , while u.s .', 'gaap does not .', 'also , for those realized gains and losses caused by changes in interest rates , u.s .', 'stat for life insurance companies defers and amortizes the gains and losses , caused by changes in interest rates , into income over the original life to maturity of the asset sold ( the interest maintenance reserve ) while u.s .', 'gaap does not .', '2022 goodwill arising from the acquisition of a business is tested for recoverability on an annual basis ( or more frequently , as necessary ) for u.s .', 'gaap , while under u.s .', 'stat goodwill is amortized over a period not to exceed 10 years and the amount of goodwill is limited. .']

-0.05034

HIG/2012/page_132.pdf-3

['table of contents statutory surplus the table below sets forth statutory surplus for the company 2019s insurance companies as of december 31 , 2012 and 2011: .']

['statutory capital and surplus for the u.s .', 'life insurance subsidiaries , including domestic captive insurance subsidiaries , decreased by $ 978 , primarily due to variable annuity surplus impacts of approximately $ 425 , a $ 200 increase in reserves on a change in valuation basis , $ 200 transfer of the mutual funds business from the u.s .', 'life insurance companies to the life holding company , and an increase in the asset valuation reserve of $ 115 .', "as a result of the january 2013 statutory gain from the sale of the retirement plans and individual life businesses , the company's pro forma january 2 , 2013 u.s .", 'life statutory surplus was estimated to be $ 8.1 billion , before approximately $ 1.5 billion in extraordinary dividends and return of capital to hfsg holding company .', 'statutory capital and surplus for the property and casualty insurance subsidiaries increased by $ 233 , primarily due to statutory net income , after tax , of $ 727 , unrealized gains of $ 249 , and an increase in statutory admitted deferred tax assets of $ 77 , capital contributions of $ 14 , and an increase of statutory admitted assets of $ 7 , partially offset by dividends to the hfsg holding company of $ 841 .', 'both net income and dividends are net of interest payments and dividends , respectively , on an intercompany note between hartford holdings , inc .', 'and hartford fire insurance company .', 'the company also holds regulatory capital and surplus for its operations in japan .', 'under the accounting practices and procedures governed by japanese regulatory authorities , the company 2019s statutory capital and surplus was $ 1.1 billion and $ 1.3 billion as of december 31 , 2012 and 2011 , respectively .', 'statutory capital the company 2019s stockholders 2019 equity , as prepared using u.s .', 'generally accepted accounting principles ( 201cu.s .', 'gaap 201d ) was $ 22.4 billion as of december 31 , 2012 .', 'the company 2019s estimated aggregate statutory capital and surplus , as prepared in accordance with the national association of insurance commissioners 2019 accounting practices and procedures manual ( 201cu.s .', 'stat 201d ) was $ 14.1 billion as of december 31 , 2012 .', 'significant differences between u.s .', 'gaap stockholders 2019 equity and aggregate statutory capital and surplus prepared in accordance with u.s .', 'stat include the following : 2022 u.s .', 'stat excludes equity of non-insurance and foreign insurance subsidiaries not held by u.s .', 'insurance subsidiaries .', '2022 costs incurred by the company to acquire insurance policies are deferred under u.s .', 'gaap while those costs are expensed immediately under u.s .', '2022 temporary differences between the book and tax basis of an asset or liability which are recorded as deferred tax assets are evaluated for recoverability under u.s .', 'gaap while those amounts deferred are subject to limitations under u.s .', 'stat .', '2022 the assumptions used in the determination of life benefit reserves is prescribed under u.s .', 'stat , while the assumptions used under u.s .', 'gaap are generally the company 2019s best estimates .', 'the methodologies for determining life insurance reserve amounts may also be different .', 'for example , reserving for living benefit reserves under u.s .', 'stat is generally addressed by the commissioners 2019 annuity reserving valuation methodology and the related actuarial guidelines , while under u.s .', 'gaap , those same living benefits may be considered embedded derivatives and recorded at fair value or they may be considered sop 03-1 reserves .', 'the sensitivity of these life insurance reserves to changes in equity markets , as applicable , will be different between u.s .', 'gaap and u.s .', 'stat .', '2022 the difference between the amortized cost and fair value of fixed maturity and other investments , net of tax , is recorded as an increase or decrease to the carrying value of the related asset and to equity under u.s .', 'gaap , while u.s .', 'stat only records certain securities at fair value , such as equity securities and certain lower rated bonds required by the naic to be recorded at the lower of amortized cost or fair value .', '2022 u.s .', 'stat for life insurance companies establishes a formula reserve for realized and unrealized losses due to default and equity risks associated with certain invested assets ( the asset valuation reserve ) , while u.s .', 'gaap does not .', 'also , for those realized gains and losses caused by changes in interest rates , u.s .', 'stat for life insurance companies defers and amortizes the gains and losses , caused by changes in interest rates , into income over the original life to maturity of the asset sold ( the interest maintenance reserve ) while u.s .', 'gaap does not .', '2022 goodwill arising from the acquisition of a business is tested for recoverability on an annual basis ( or more frequently , as necessary ) for u.s .', 'gaap , while under u.s .', 'stat goodwill is amortized over a period not to exceed 10 years and the amount of goodwill is limited. .']

======================================== 2012 2011 u.s . life insurance subsidiaries includes domestic captive insurance subsidiaries $ 6410 $ 7388 property and casualty insurance subsidiaries 7645 7412 total $ 14055 $ 14800 ========================================

subtract(14055, 14800), divide(#0, 14800)

-0.05034

as of december 31 , 2016 , what is the remaining capacity ( in millions ) for the credit facility scheduled to expire in may 2019?

Background: ['system energy resources , inc .', 'management 2019s financial discussion and analysis also in addition to the contractual obligations , system energy has $ 382.3 million of unrecognized tax benefits and interest net of unused tax attributes and payments for which the timing of payments beyond 12 months cannot be reasonably estimated due to uncertainties in the timing of effective settlement of tax positions .', 'see note 3 to the financial statements for additional information regarding unrecognized tax benefits .', 'in addition to routine spending to maintain operations , the planned capital investment estimate includes specific investments and initiatives such as the nuclear fleet operational excellence initiative , as discussed below in 201cnuclear matters , 201d and plant improvements .', 'as a wholly-owned subsidiary , system energy dividends its earnings to entergy corporation at a percentage determined monthly .', 'sources of capital system energy 2019s sources to meet its capital requirements include : 2022 internally generated funds ; 2022 cash on hand ; 2022 debt issuances ; and 2022 bank financing under new or existing facilities .', 'system energy may refinance , redeem , or otherwise retire debt prior to maturity , to the extent market conditions and interest and dividend rates are favorable .', 'all debt and common stock issuances by system energy require prior regulatory approval .', 'debt issuances are also subject to issuance tests set forth in its bond indentures and other agreements .', 'system energy has sufficient capacity under these tests to meet its foreseeable capital needs .', 'system energy 2019s receivables from the money pool were as follows as of december 31 for each of the following years. .'] #### Table: ---------------------------------------- Row 1: 2016, 2015, 2014, 2013 Row 2: ( in thousands ), ( in thousands ), ( in thousands ), ( in thousands ) Row 3: $ 33809, $ 39926, $ 2373, $ 9223 ---------------------------------------- #### Follow-up: ['see note 4 to the financial statements for a description of the money pool .', 'the system energy nuclear fuel company variable interest entity has a credit facility in the amount of $ 120 million scheduled to expire in may 2019 .', 'as of december 31 , 2016 , $ 66.9 million in letters of credit were outstanding under the credit facility to support a like amount of commercial paper issued by the system energy nuclear fuel company variable interest entity .', 'see note 4 to the financial statements for additional discussion of the variable interest entity credit facility .', 'system energy obtained authorizations from the ferc through october 2017 for the following : 2022 short-term borrowings not to exceed an aggregate amount of $ 200 million at any time outstanding ; 2022 long-term borrowings and security issuances ; and 2022 long-term borrowings by its nuclear fuel company variable interest entity .', 'see note 4 to the financial statements for further discussion of system energy 2019s short-term borrowing limits. .']

53.1

ETR/2016/page_444.pdf-4

['system energy resources , inc .', 'management 2019s financial discussion and analysis also in addition to the contractual obligations , system energy has $ 382.3 million of unrecognized tax benefits and interest net of unused tax attributes and payments for which the timing of payments beyond 12 months cannot be reasonably estimated due to uncertainties in the timing of effective settlement of tax positions .', 'see note 3 to the financial statements for additional information regarding unrecognized tax benefits .', 'in addition to routine spending to maintain operations , the planned capital investment estimate includes specific investments and initiatives such as the nuclear fleet operational excellence initiative , as discussed below in 201cnuclear matters , 201d and plant improvements .', 'as a wholly-owned subsidiary , system energy dividends its earnings to entergy corporation at a percentage determined monthly .', 'sources of capital system energy 2019s sources to meet its capital requirements include : 2022 internally generated funds ; 2022 cash on hand ; 2022 debt issuances ; and 2022 bank financing under new or existing facilities .', 'system energy may refinance , redeem , or otherwise retire debt prior to maturity , to the extent market conditions and interest and dividend rates are favorable .', 'all debt and common stock issuances by system energy require prior regulatory approval .', 'debt issuances are also subject to issuance tests set forth in its bond indentures and other agreements .', 'system energy has sufficient capacity under these tests to meet its foreseeable capital needs .', 'system energy 2019s receivables from the money pool were as follows as of december 31 for each of the following years. .']

['see note 4 to the financial statements for a description of the money pool .', 'the system energy nuclear fuel company variable interest entity has a credit facility in the amount of $ 120 million scheduled to expire in may 2019 .', 'as of december 31 , 2016 , $ 66.9 million in letters of credit were outstanding under the credit facility to support a like amount of commercial paper issued by the system energy nuclear fuel company variable interest entity .', 'see note 4 to the financial statements for additional discussion of the variable interest entity credit facility .', 'system energy obtained authorizations from the ferc through october 2017 for the following : 2022 short-term borrowings not to exceed an aggregate amount of $ 200 million at any time outstanding ; 2022 long-term borrowings and security issuances ; and 2022 long-term borrowings by its nuclear fuel company variable interest entity .', 'see note 4 to the financial statements for further discussion of system energy 2019s short-term borrowing limits. .']

---------------------------------------- Row 1: 2016, 2015, 2014, 2013 Row 2: ( in thousands ), ( in thousands ), ( in thousands ), ( in thousands ) Row 3: $ 33809, $ 39926, $ 2373, $ 9223 ----------------------------------------

subtract(120, 66.9)

53.1

what is the anticipated cash dividend for each quarter in millions

Background: ['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. .'] ########## Data Table: **************************************** • 2005, pricerange high, pricerange low • quarterended march 312005, $ 18.65, $ 15.10 • quarter endedjune 302005, $ 18.16, $ 13.54 • quarter endedseptember 30 2005, $ 20.06, $ 15.88 • quarter endeddecember 312005, $ 19.76, $ 15.58 **************************************** ########## Follow-up: ['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. .']

6.25

CE/2005/page_56.pdf-1

['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. .']

['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. .']

**************************************** • 2005, pricerange high, pricerange low • quarterended march 312005, $ 18.65, $ 15.10 • quarter endedjune 302005, $ 18.16, $ 13.54 • quarter endedseptember 30 2005, $ 20.06, $ 15.88 • quarter endeddecember 312005, $ 19.76, $ 15.58 ****************************************

divide(25, const_4)

6.25

what is the percentage change in aggregate rent expense from 2006 to 2007?

Pre-text: ['american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) as of december 31 , 2006 , the company held a total of ten interest rate swap agreements to manage exposure to variable rate interest obligations under its amt opco and spectrasite credit facilities and four forward starting interest rate swap agreements to manage exposure to variability in cash flows relating to forecasted interest payments in connection with the securitization which the company designated as cash flow hedges .', 'the eight american tower swaps had an aggregate notional amount of $ 450.0 million and fixed rates ranging between 4.63% ( 4.63 % ) and 4.88% ( 4.88 % ) and the two spectrasite swaps have an aggregate notional amount of $ 100.0 million and a fixed rate of 4.95% ( 4.95 % ) .', 'the four forward starting interest rate swap agreements had an aggregate notional amount of $ 900.0 million , fixed rates ranging between 4.73% ( 4.73 % ) and 5.10% ( 5.10 % ) .', 'as of december 31 , 2006 , the company also held three interest rate swap instruments and one interest rate cap instrument that were acquired in the spectrasite , inc .', 'merger in august 2005 and were not designated as cash flow hedges .', 'the three interest rate swaps , which had a fair value of $ 6.7 million at the date of acquisition , have an aggregate notional amount of $ 300.0 million , a fixed rate of 3.88% ( 3.88 % ) .', 'the interest rate cap had a notional amount of $ 175.0 million , a fixed rate of 7.0% ( 7.0 % ) , and expired in february 2006 .', 'as of december 31 , 2006 , other comprehensive income includes unrealized gains on short term available-for-sale securities of $ 10.4 million and unrealized gains related to the interest rate swap agreements in the table above of $ 5.7 million , net of tax .', 'during the year ended december 31 , 2006 , the company recorded a net unrealized gain of approximately $ 6.5 million ( net of a tax provision of approximately $ 3.5 million ) in other comprehensive loss for the change in fair value of interest rate swaps designated as cash flow hedges and reclassified $ 0.7 million ( net of an income tax benefit of $ 0.2 million ) into results of operations during the year ended december 31 , 2006 .', '9 .', 'commitments and contingencies lease obligations 2014the company leases certain land , office and tower space under operating leases that expire over various terms .', 'many of the leases contain renewal options with specified increases in lease payments upon exercise of the renewal option .', 'escalation clauses present in operating leases , excluding those tied to cpi or other inflation-based indices , are recognized on a straight-line basis over the non-cancelable term of the lease .', '( see note 1. ) future minimum rental payments under non-cancelable operating leases include payments for certain renewal periods at the company 2019s option because failure to renew could result in a loss of the applicable tower site and related revenues from tenant leases , thereby making it reasonably assured that the company will renew the lease .', 'such payments in effect at december 31 , 2007 are as follows ( in thousands ) : year ending december 31 .'] ###### Data Table: 2008, $ 217969 2009, 215763 2010, 208548 2011, 199024 2012, 190272 thereafter, 2451496 total, $ 3483072 ###### Additional Information: ['aggregate rent expense ( including the effect of straight-line rent expense ) under operating leases for the years ended december 31 , 2007 , 2006 and 2005 approximated $ 246.4 million , $ 237.0 million and $ 168.7 million , respectively. .']

0.03966

AMT/2007/page_116.pdf-2

['american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) as of december 31 , 2006 , the company held a total of ten interest rate swap agreements to manage exposure to variable rate interest obligations under its amt opco and spectrasite credit facilities and four forward starting interest rate swap agreements to manage exposure to variability in cash flows relating to forecasted interest payments in connection with the securitization which the company designated as cash flow hedges .', 'the eight american tower swaps had an aggregate notional amount of $ 450.0 million and fixed rates ranging between 4.63% ( 4.63 % ) and 4.88% ( 4.88 % ) and the two spectrasite swaps have an aggregate notional amount of $ 100.0 million and a fixed rate of 4.95% ( 4.95 % ) .', 'the four forward starting interest rate swap agreements had an aggregate notional amount of $ 900.0 million , fixed rates ranging between 4.73% ( 4.73 % ) and 5.10% ( 5.10 % ) .', 'as of december 31 , 2006 , the company also held three interest rate swap instruments and one interest rate cap instrument that were acquired in the spectrasite , inc .', 'merger in august 2005 and were not designated as cash flow hedges .', 'the three interest rate swaps , which had a fair value of $ 6.7 million at the date of acquisition , have an aggregate notional amount of $ 300.0 million , a fixed rate of 3.88% ( 3.88 % ) .', 'the interest rate cap had a notional amount of $ 175.0 million , a fixed rate of 7.0% ( 7.0 % ) , and expired in february 2006 .', 'as of december 31 , 2006 , other comprehensive income includes unrealized gains on short term available-for-sale securities of $ 10.4 million and unrealized gains related to the interest rate swap agreements in the table above of $ 5.7 million , net of tax .', 'during the year ended december 31 , 2006 , the company recorded a net unrealized gain of approximately $ 6.5 million ( net of a tax provision of approximately $ 3.5 million ) in other comprehensive loss for the change in fair value of interest rate swaps designated as cash flow hedges and reclassified $ 0.7 million ( net of an income tax benefit of $ 0.2 million ) into results of operations during the year ended december 31 , 2006 .', '9 .', 'commitments and contingencies lease obligations 2014the company leases certain land , office and tower space under operating leases that expire over various terms .', 'many of the leases contain renewal options with specified increases in lease payments upon exercise of the renewal option .', 'escalation clauses present in operating leases , excluding those tied to cpi or other inflation-based indices , are recognized on a straight-line basis over the non-cancelable term of the lease .', '( see note 1. ) future minimum rental payments under non-cancelable operating leases include payments for certain renewal periods at the company 2019s option because failure to renew could result in a loss of the applicable tower site and related revenues from tenant leases , thereby making it reasonably assured that the company will renew the lease .', 'such payments in effect at december 31 , 2007 are as follows ( in thousands ) : year ending december 31 .']

['aggregate rent expense ( including the effect of straight-line rent expense ) under operating leases for the years ended december 31 , 2007 , 2006 and 2005 approximated $ 246.4 million , $ 237.0 million and $ 168.7 million , respectively. .']

2008, $ 217969 2009, 215763 2010, 208548 2011, 199024 2012, 190272 thereafter, 2451496 total, $ 3483072

subtract(246.4, 237.0), divide(#0, 237.0)

0.03966

how much money can be deducted from income taxes from the 2014 to 2016 , not counting goodwill and intangible assets?

Context: ['analog devices , inc .', 'notes to consolidated financial statements 2014 ( continued ) depreciation expense for property , plant and equipment was $ 134.5 million , $ 130.1 million and $ 114.1 million in fiscal 2016 , 2015 and 2014 , respectively .', 'the company reviews property , plant and equipment for impairment whenever events or changes in circumstances indicate that the carrying amount of assets may not be recoverable .', 'recoverability of these assets is determined by comparison of their carrying amount to the future undiscounted cash flows the assets are expected to generate over their remaining economic lives .', 'if such assets are considered to be impaired , the impairment to be recognized in earnings equals the amount by which the carrying value of the assets exceeds their fair value determined by either a quoted market price , if any , or a value determined by utilizing a discounted cash flow technique .', 'if such assets are not impaired , but their useful lives have decreased , the remaining net book value is depreciated over the revised useful life .', 'we have not recorded any material impairment charges related to our property , plant and equipment in fiscal 2016 , fiscal 2015 or fiscal 2014 .', 'f .', 'goodwill and intangible assets goodwill the company evaluates goodwill for impairment annually , as well as whenever events or changes in circumstances suggest that the carrying value of goodwill may not be recoverable .', 'the company tests goodwill for impairment at the reporting unit level ( operating segment or one level below an operating segment ) on an annual basis on the first day of the fourth quarter ( on or about august 1 ) or more frequently if indicators of impairment exist .', 'for the company 2019s latest annual impairment assessment that occurred as of july 31 , 2016 , the company identified its reporting units to be its seven operating segments .', 'the performance of the test involves a two-step process .', 'the first step of the quantitative impairment test involves comparing the fair values of the applicable reporting units with their aggregate carrying values , including goodwill .', 'the company determines the fair value of its reporting units using a weighting of the income and market approaches .', 'under the income approach , the company uses a discounted cash flow methodology which requires management to make significant estimates and assumptions related to forecasted revenues , gross profit margins , operating income margins , working capital cash flow , perpetual growth rates , and long-term discount rates , among others .', 'for the market approach , the company uses the guideline public company method .', 'under this method the company utilizes information from comparable publicly traded companies with similar operating and investment characteristics as the reporting units , to create valuation multiples that are applied to the operating performance of the reporting unit being tested , in order to obtain their respective fair values .', 'in order to assess the reasonableness of the calculated reporting unit fair values , the company reconciles the aggregate fair values of its reporting units determined , as described above , to its current market capitalization , allowing for a reasonable control premium .', 'if the carrying amount of a reporting unit , calculated using the above approaches , exceeds the reporting unit 2019s fair value , the company performs the second step of the goodwill impairment test to determine the amount of impairment loss .', 'the second step of the goodwill impairment test involves comparing the implied fair value of the affected reporting unit 2019s goodwill with the carrying value of that reporting unit .', 'there was no impairment of goodwill in any of the fiscal years presented .', 'the company 2019s next annual impairment assessment will be performed as of the first day of the fourth quarter of the fiscal year ending october 28 , 2017 ( fiscal 2017 ) unless indicators arise that would require the company to reevaluate at an earlier date .', 'the following table presents the changes in goodwill during fiscal 2016 and fiscal 2015: .'] Table: | 2016 | 2015 balance at beginning of year | $ 1636526 | $ 1642438 acquisition of hittite ( note 6 ) ( 1 ) | 2014 | -1105 ( 1105 ) goodwill adjustment related to other acquisitions ( 2 ) | 44046 | 3663 foreign currency translation adjustment | -1456 ( 1456 ) | -8470 ( 8470 ) balance at end of year | $ 1679116 | $ 1636526 Post-table: ['( 1 ) amount in fiscal 2015 represents changes to goodwill as a result of finalizing the acquisition accounting related to the hittite acquisition .', '( 2 ) represents goodwill related to other acquisitions that were not material to the company on either an individual or aggregate basis .', 'intangible assets the company reviews finite-lived intangible assets for impairment whenever events or changes in circumstances indicate that the carrying value of assets may not be recoverable .', 'recoverability of these assets is determined by comparison of their carrying value to the estimated future undiscounted cash flows the assets are expected to generate over their remaining .']

378.7

ADI/2016/page_61.pdf-3

['analog devices , inc .', 'notes to consolidated financial statements 2014 ( continued ) depreciation expense for property , plant and equipment was $ 134.5 million , $ 130.1 million and $ 114.1 million in fiscal 2016 , 2015 and 2014 , respectively .', 'the company reviews property , plant and equipment for impairment whenever events or changes in circumstances indicate that the carrying amount of assets may not be recoverable .', 'recoverability of these assets is determined by comparison of their carrying amount to the future undiscounted cash flows the assets are expected to generate over their remaining economic lives .', 'if such assets are considered to be impaired , the impairment to be recognized in earnings equals the amount by which the carrying value of the assets exceeds their fair value determined by either a quoted market price , if any , or a value determined by utilizing a discounted cash flow technique .', 'if such assets are not impaired , but their useful lives have decreased , the remaining net book value is depreciated over the revised useful life .', 'we have not recorded any material impairment charges related to our property , plant and equipment in fiscal 2016 , fiscal 2015 or fiscal 2014 .', 'f .', 'goodwill and intangible assets goodwill the company evaluates goodwill for impairment annually , as well as whenever events or changes in circumstances suggest that the carrying value of goodwill may not be recoverable .', 'the company tests goodwill for impairment at the reporting unit level ( operating segment or one level below an operating segment ) on an annual basis on the first day of the fourth quarter ( on or about august 1 ) or more frequently if indicators of impairment exist .', 'for the company 2019s latest annual impairment assessment that occurred as of july 31 , 2016 , the company identified its reporting units to be its seven operating segments .', 'the performance of the test involves a two-step process .', 'the first step of the quantitative impairment test involves comparing the fair values of the applicable reporting units with their aggregate carrying values , including goodwill .', 'the company determines the fair value of its reporting units using a weighting of the income and market approaches .', 'under the income approach , the company uses a discounted cash flow methodology which requires management to make significant estimates and assumptions related to forecasted revenues , gross profit margins , operating income margins , working capital cash flow , perpetual growth rates , and long-term discount rates , among others .', 'for the market approach , the company uses the guideline public company method .', 'under this method the company utilizes information from comparable publicly traded companies with similar operating and investment characteristics as the reporting units , to create valuation multiples that are applied to the operating performance of the reporting unit being tested , in order to obtain their respective fair values .', 'in order to assess the reasonableness of the calculated reporting unit fair values , the company reconciles the aggregate fair values of its reporting units determined , as described above , to its current market capitalization , allowing for a reasonable control premium .', 'if the carrying amount of a reporting unit , calculated using the above approaches , exceeds the reporting unit 2019s fair value , the company performs the second step of the goodwill impairment test to determine the amount of impairment loss .', 'the second step of the goodwill impairment test involves comparing the implied fair value of the affected reporting unit 2019s goodwill with the carrying value of that reporting unit .', 'there was no impairment of goodwill in any of the fiscal years presented .', 'the company 2019s next annual impairment assessment will be performed as of the first day of the fourth quarter of the fiscal year ending october 28 , 2017 ( fiscal 2017 ) unless indicators arise that would require the company to reevaluate at an earlier date .', 'the following table presents the changes in goodwill during fiscal 2016 and fiscal 2015: .']

['( 1 ) amount in fiscal 2015 represents changes to goodwill as a result of finalizing the acquisition accounting related to the hittite acquisition .', '( 2 ) represents goodwill related to other acquisitions that were not material to the company on either an individual or aggregate basis .', 'intangible assets the company reviews finite-lived intangible assets for impairment whenever events or changes in circumstances indicate that the carrying value of assets may not be recoverable .', 'recoverability of these assets is determined by comparison of their carrying value to the estimated future undiscounted cash flows the assets are expected to generate over their remaining .']

| 2016 | 2015 balance at beginning of year | $ 1636526 | $ 1642438 acquisition of hittite ( note 6 ) ( 1 ) | 2014 | -1105 ( 1105 ) goodwill adjustment related to other acquisitions ( 2 ) | 44046 | 3663 foreign currency translation adjustment | -1456 ( 1456 ) | -8470 ( 8470 ) balance at end of year | $ 1679116 | $ 1636526

add(134.5, 114.1), add(130.1, #0)

378.7

what will be the yearly interest expense for entergy louisiana for the bond issued in 2012 , ( in millions ) ?

Pre-text: ['entergy louisiana , llc and subsidiaries management 2019s financial discussion and analysis all debt and common and preferred membership interest issuances by entergy louisiana require prior regulatory approval .', 'preferred membership interest and debt issuances are also subject to issuance tests set forth in its bond indentures and other agreements .', 'entergy louisiana has sufficient capacity under these tests to meet its foreseeable capital needs .', 'entergy louisiana 2019s receivables from or ( payables to ) the money pool were as follows as of december 31 for each of the following years: .'] ------ Tabular Data: ======================================== Row 1: 2011, 2010, 2009, 2008 Row 2: ( in thousands ), ( in thousands ), ( in thousands ), ( in thousands ) Row 3: ( $ 118415 ), $ 49887, $ 52807, $ 61236 ======================================== ------ Follow-up: ['see note 4 to the financial statements for a description of the money pool .', 'entergy louisiana has a credit facility in the amount of $ 200 million scheduled to expire in august 2012 .', 'as of december 31 , 2011 , $ 50 million was outstanding on the credit facility .', 'entergy louisiana obtained short-term borrowing authorization from the ferc under which it may borrow through october 2013 , up to the aggregate amount , at any one time outstanding , of $ 250 million .', 'see note 4 to the financial statements for further discussion of entergy louisiana 2019s short-term borrowing limits .', 'entergy louisiana has also obtained an order from the ferc authorizing long-term securities issuances through july 2013 .', 'in january 2012 , entergy louisiana issued $ 250 million of 1.875% ( 1.875 % ) series first mortgage bonds due december 2014 .', 'entergy louisiana used the proceeds to repay short-term borrowings under the entergy system money pool .', 'little gypsy repowering project in april 2007 , entergy louisiana announced that it intended to pursue the solid fuel repowering of a 538 mw unit at its little gypsy plant .', 'in march 2009 the lpsc voted in favor of a motion directing entergy louisiana to temporarily suspend the repowering project and , based upon an analysis of the project 2019s economic viability , to make a recommendation regarding whether to proceed with the project .', 'this action was based upon a number of factors including the recent decline in natural gas prices , as well as environmental concerns , the unknown costs of carbon legislation and changes in the capital/financial markets .', 'in april 2009 , entergy louisiana complied with the lpsc 2019s directive and recommended that the project be suspended for an extended period of time of three years or more .', 'in may 2009 the lpsc issued an order declaring that entergy louisiana 2019s decision to place the little gypsy project into a longer-term suspension of three years or more is in the public interest and prudent .', 'in october 2009 , entergy louisiana made a filing with the lpsc seeking permission to cancel the little gypsy repowering project and seeking project cost recovery over a five-year period .', 'in june 2010 and august 2010 , the lpsc staff and intervenors filed testimony .', 'the lpsc staff ( 1 ) agreed that it was prudent to move the project from long-term suspension to cancellation and that the timing of the decision to suspend on a longer-term basis was not imprudent ; ( 2 ) indicated that , except for $ 0.8 million in compensation-related costs , the costs incurred should be deemed prudent ; ( 3 ) recommended recovery from customers over ten years but stated that the lpsc may want to consider 15 years ; ( 4 ) allowed for recovery of carrying costs and earning a return on project costs , but at a reduced rate approximating the cost of debt , while also acknowledging that the lpsc may consider ordering no return ; and ( 5 ) indicated that entergy louisiana should be directed to securitize project costs , if legally feasible and in the public interest .', 'in the third quarter 2010 , in accordance with accounting standards , entergy louisiana determined that it was probable that the little gypsy repowering project would be abandoned and accordingly reclassified $ 199.8 million of project costs from construction work in progress to a regulatory asset .', 'a hearing on the issues , except for cost allocation among customer classes , was held before the alj in november 2010 .', 'in january 2011 all parties participated in a mediation on the disputed issues , resulting in a settlement of all disputed issues , including cost recovery and cost allocation .', 'the settlement provides for entergy louisiana to recover $ 200 million as of march 31 , 2011 , and carrying costs on that amount on specified terms thereafter .', 'the settlement also provides for entergy louisiana to recover the approved project costs by securitization .', 'in april 2011 , entergy .']

249.98125

ETR/2011/page_324.pdf-4

['entergy louisiana , llc and subsidiaries management 2019s financial discussion and analysis all debt and common and preferred membership interest issuances by entergy louisiana require prior regulatory approval .', 'preferred membership interest and debt issuances are also subject to issuance tests set forth in its bond indentures and other agreements .', 'entergy louisiana has sufficient capacity under these tests to meet its foreseeable capital needs .', 'entergy louisiana 2019s receivables from or ( payables to ) the money pool were as follows as of december 31 for each of the following years: .']

['see note 4 to the financial statements for a description of the money pool .', 'entergy louisiana has a credit facility in the amount of $ 200 million scheduled to expire in august 2012 .', 'as of december 31 , 2011 , $ 50 million was outstanding on the credit facility .', 'entergy louisiana obtained short-term borrowing authorization from the ferc under which it may borrow through october 2013 , up to the aggregate amount , at any one time outstanding , of $ 250 million .', 'see note 4 to the financial statements for further discussion of entergy louisiana 2019s short-term borrowing limits .', 'entergy louisiana has also obtained an order from the ferc authorizing long-term securities issuances through july 2013 .', 'in january 2012 , entergy louisiana issued $ 250 million of 1.875% ( 1.875 % ) series first mortgage bonds due december 2014 .', 'entergy louisiana used the proceeds to repay short-term borrowings under the entergy system money pool .', 'little gypsy repowering project in april 2007 , entergy louisiana announced that it intended to pursue the solid fuel repowering of a 538 mw unit at its little gypsy plant .', 'in march 2009 the lpsc voted in favor of a motion directing entergy louisiana to temporarily suspend the repowering project and , based upon an analysis of the project 2019s economic viability , to make a recommendation regarding whether to proceed with the project .', 'this action was based upon a number of factors including the recent decline in natural gas prices , as well as environmental concerns , the unknown costs of carbon legislation and changes in the capital/financial markets .', 'in april 2009 , entergy louisiana complied with the lpsc 2019s directive and recommended that the project be suspended for an extended period of time of three years or more .', 'in may 2009 the lpsc issued an order declaring that entergy louisiana 2019s decision to place the little gypsy project into a longer-term suspension of three years or more is in the public interest and prudent .', 'in october 2009 , entergy louisiana made a filing with the lpsc seeking permission to cancel the little gypsy repowering project and seeking project cost recovery over a five-year period .', 'in june 2010 and august 2010 , the lpsc staff and intervenors filed testimony .', 'the lpsc staff ( 1 ) agreed that it was prudent to move the project from long-term suspension to cancellation and that the timing of the decision to suspend on a longer-term basis was not imprudent ; ( 2 ) indicated that , except for $ 0.8 million in compensation-related costs , the costs incurred should be deemed prudent ; ( 3 ) recommended recovery from customers over ten years but stated that the lpsc may want to consider 15 years ; ( 4 ) allowed for recovery of carrying costs and earning a return on project costs , but at a reduced rate approximating the cost of debt , while also acknowledging that the lpsc may consider ordering no return ; and ( 5 ) indicated that entergy louisiana should be directed to securitize project costs , if legally feasible and in the public interest .', 'in the third quarter 2010 , in accordance with accounting standards , entergy louisiana determined that it was probable that the little gypsy repowering project would be abandoned and accordingly reclassified $ 199.8 million of project costs from construction work in progress to a regulatory asset .', 'a hearing on the issues , except for cost allocation among customer classes , was held before the alj in november 2010 .', 'in january 2011 all parties participated in a mediation on the disputed issues , resulting in a settlement of all disputed issues , including cost recovery and cost allocation .', 'the settlement provides for entergy louisiana to recover $ 200 million as of march 31 , 2011 , and carrying costs on that amount on specified terms thereafter .', 'the settlement also provides for entergy louisiana to recover the approved project costs by securitization .', 'in april 2011 , entergy .']

======================================== Row 1: 2011, 2010, 2009, 2008 Row 2: ( in thousands ), ( in thousands ), ( in thousands ), ( in thousands ) Row 3: ( $ 118415 ), $ 49887, $ 52807, $ 61236 ========================================

subtract(250, 1.875%)

249.98125

what is the growth rate in net revenue from 2009 to 2010?

Context: ['entergy texas , inc .', 'and subsidiaries management 2019s financial discussion and analysis gross operating revenues , fuel and purchased power expenses , and other regulatory charges gross operating revenues increased primarily due to the base rate increases and the volume/weather effect , as discussed above .', 'fuel and purchased power expenses increased primarily due to an increase in demand coupled with an increase in deferred fuel expense as a result of lower fuel refunds in 2011 versus 2010 , partially offset by a decrease in the average market price of natural gas .', 'other regulatory charges decreased primarily due to the distribution in the first quarter 2011 of $ 17.4 million to customers of the 2007 rough production cost equalization remedy receipts .', 'see note 2 to the financial statements for further discussion of the rough production cost equalization proceedings .', '2010 compared to 2009 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 2010 to 2009 .', 'amount ( in millions ) .'] Table: , amount ( in millions ) 2009 net revenue, $ 485.1 net wholesale revenue, 27.7 volume/weather, 27.2 rough production cost equalization, 18.6 retail electric price, 16.3 securitization transition charge, 15.3 purchased power capacity, -44.3 ( 44.3 ) other, -5.7 ( 5.7 ) 2010 net revenue, $ 540.2 Post-table: ['the net wholesale revenue variance is primarily due to increased sales to municipal and co-op customers due to the addition of new contracts .', 'the volume/weather variance is primarily due to increased electricity usage primarily in the residential and commercial sectors , resulting from a 1.5% ( 1.5 % ) increase in customers , coupled with the effect of more favorable weather on residential sales .', 'billed electricity usage increased a total of 777 gwh , or 5% ( 5 % ) .', 'the rough production cost equalization variance is due to an additional $ 18.6 million allocation recorded in the second quarter of 2009 for 2007 rough production cost equalization receipts ordered by the puct to texas retail customers over what was originally allocated to entergy texas prior to the jurisdictional separation of entergy gulf states , inc .', 'into entergy gulf states louisiana and entergy texas , effective december 2007 , as discussed in note 2 to the financial statements .', 'the retail electric price variance is primarily due to rate actions , including an annual base rate increase of $ 59 million beginning august 2010 as a result of the settlement of the december 2009 rate case .', 'see note 2 to the financial statements for further discussion of the rate case settlement .', 'the securitization transition charge variance is due to the issuance of securitization bonds .', 'in november 2009 , entergy texas restoration funding , llc , a company wholly-owned and consolidated by entergy texas , issued securitization bonds and with the proceeds purchased from entergy texas the transition property , which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds .', 'the securitization transition charge is offset with a corresponding increase in interest on long-term debt with no impact on net income .', 'see note 5 to the financial statements for further discussion of the securitization bond issuance. .']

0.11358

ETR/2011/page_377.pdf-3

['entergy texas , inc .', 'and subsidiaries management 2019s financial discussion and analysis gross operating revenues , fuel and purchased power expenses , and other regulatory charges gross operating revenues increased primarily due to the base rate increases and the volume/weather effect , as discussed above .', 'fuel and purchased power expenses increased primarily due to an increase in demand coupled with an increase in deferred fuel expense as a result of lower fuel refunds in 2011 versus 2010 , partially offset by a decrease in the average market price of natural gas .', 'other regulatory charges decreased primarily due to the distribution in the first quarter 2011 of $ 17.4 million to customers of the 2007 rough production cost equalization remedy receipts .', 'see note 2 to the financial statements for further discussion of the rough production cost equalization proceedings .', '2010 compared to 2009 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 2010 to 2009 .', 'amount ( in millions ) .']

['the net wholesale revenue variance is primarily due to increased sales to municipal and co-op customers due to the addition of new contracts .', 'the volume/weather variance is primarily due to increased electricity usage primarily in the residential and commercial sectors , resulting from a 1.5% ( 1.5 % ) increase in customers , coupled with the effect of more favorable weather on residential sales .', 'billed electricity usage increased a total of 777 gwh , or 5% ( 5 % ) .', 'the rough production cost equalization variance is due to an additional $ 18.6 million allocation recorded in the second quarter of 2009 for 2007 rough production cost equalization receipts ordered by the puct to texas retail customers over what was originally allocated to entergy texas prior to the jurisdictional separation of entergy gulf states , inc .', 'into entergy gulf states louisiana and entergy texas , effective december 2007 , as discussed in note 2 to the financial statements .', 'the retail electric price variance is primarily due to rate actions , including an annual base rate increase of $ 59 million beginning august 2010 as a result of the settlement of the december 2009 rate case .', 'see note 2 to the financial statements for further discussion of the rate case settlement .', 'the securitization transition charge variance is due to the issuance of securitization bonds .', 'in november 2009 , entergy texas restoration funding , llc , a company wholly-owned and consolidated by entergy texas , issued securitization bonds and with the proceeds purchased from entergy texas the transition property , which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds .', 'the securitization transition charge is offset with a corresponding increase in interest on long-term debt with no impact on net income .', 'see note 5 to the financial statements for further discussion of the securitization bond issuance. .']

, amount ( in millions ) 2009 net revenue, $ 485.1 net wholesale revenue, 27.7 volume/weather, 27.2 rough production cost equalization, 18.6 retail electric price, 16.3 securitization transition charge, 15.3 purchased power capacity, -44.3 ( 44.3 ) other, -5.7 ( 5.7 ) 2010 net revenue, $ 540.2

subtract(540.2, 485.1), divide(#0, 485.1)

0.11358

what percent higher is 2016's balance of collateral in the form of high-quality investment securities than 2017's balance?

Context: ['management 2019s discussion and analysis of financial condition and results of operations state street corporation | 90 table 30 : total deposits average balance december 31 years ended december 31 .'] ########## Data Table: ( in millions ) | december 31 2017 | december 31 2016 | december 31 2017 | 2016 ----------|----------|----------|----------|---------- client deposits | $ 180149 | $ 176693 | $ 158996 | $ 156029 wholesale cds | 4747 | 10470 | 4812 | 14456 total deposits | $ 184896 | $ 187163 | $ 163808 | $ 170485 ########## Post-table: ['short-term funding 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 $ 2.84 billion and $ 4.40 billion as of december 31 , 2017 and december 31 , 2016 , respectively .', 'state street bank currently maintains a line of credit with a financial institution of cad 1.40 billion , or approximately $ 1.11 billion as of december 31 , 2017 , 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 , 2017 , there was no balance outstanding on this line of credit .', 'long-term funding we have the ability to issue debt and equity securities under our current universal shelf registration to meet current commitments and business needs , including accommodating the transaction and cash management needs of our clients .', 'in addition , state street bank , a wholly owned subsidiary of the parent company , also has authorization to issue up to $ 5 billion in unsecured senior debt and an additional $ 500 million of subordinated debt .', '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 : 2022 diverse and stable core earnings ; 2022 relative market position ; 2022 strong risk management ; 2022 strong capital ratios ; 2022 diverse liquidity sources , including the global capital markets and client deposits ; 2022 strong liquidity monitoring procedures ; and 2022 preparedness for current or future regulatory developments .', 'high ratings limit borrowing costs and enhance our liquidity by : 2022 providing assurance for unsecured funding and depositors ; 2022 increasing the potential market for our debt and improving our ability to offer products ; 2022 serving markets ; and 2022 engaging 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 markets , which could increase the related cost of funds .', 'in turn , this could cause the sudden and large-scale withdrawal of unsecured deposits by our clients , which could lead to draw-downs of unfunded commitments to extend credit or trigger requirements under securities purchase commitments ; or require additional collateral or force terminations of certain trading derivative contracts .', 'a majority of our derivative contracts have been entered into 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 arrangements by determining the collateral that would be required assuming a downgrade by all rating agencies .', 'the additional collateral or termination payments related to our net derivative liabilities under these arrangements that could have been called by counterparties in the event of a downgrade in our credit ratings below levels specified in the agreements is disclosed in note 10 to the consolidated financial statements included under item 8 , financial statements and supplementary data , of this form 10-k .', 'other funding sources , such as secured financing transactions and other margin requirements , for which there are no explicit triggers , could also be adversely affected. .']

0.5493

STT/2017/page_101.pdf-2

['management 2019s discussion and analysis of financial condition and results of operations state street corporation | 90 table 30 : total deposits average balance december 31 years ended december 31 .']

['short-term funding 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 $ 2.84 billion and $ 4.40 billion as of december 31 , 2017 and december 31 , 2016 , respectively .', 'state street bank currently maintains a line of credit with a financial institution of cad 1.40 billion , or approximately $ 1.11 billion as of december 31 , 2017 , 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 , 2017 , there was no balance outstanding on this line of credit .', 'long-term funding we have the ability to issue debt and equity securities under our current universal shelf registration to meet current commitments and business needs , including accommodating the transaction and cash management needs of our clients .', 'in addition , state street bank , a wholly owned subsidiary of the parent company , also has authorization to issue up to $ 5 billion in unsecured senior debt and an additional $ 500 million of subordinated debt .', '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 : 2022 diverse and stable core earnings ; 2022 relative market position ; 2022 strong risk management ; 2022 strong capital ratios ; 2022 diverse liquidity sources , including the global capital markets and client deposits ; 2022 strong liquidity monitoring procedures ; and 2022 preparedness for current or future regulatory developments .', 'high ratings limit borrowing costs and enhance our liquidity by : 2022 providing assurance for unsecured funding and depositors ; 2022 increasing the potential market for our debt and improving our ability to offer products ; 2022 serving markets ; and 2022 engaging 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 markets , which could increase the related cost of funds .', 'in turn , this could cause the sudden and large-scale withdrawal of unsecured deposits by our clients , which could lead to draw-downs of unfunded commitments to extend credit or trigger requirements under securities purchase commitments ; or require additional collateral or force terminations of certain trading derivative contracts .', 'a majority of our derivative contracts have been entered into 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 arrangements by determining the collateral that would be required assuming a downgrade by all rating agencies .', 'the additional collateral or termination payments related to our net derivative liabilities under these arrangements that could have been called by counterparties in the event of a downgrade in our credit ratings below levels specified in the agreements is disclosed in note 10 to the consolidated financial statements included under item 8 , financial statements and supplementary data , of this form 10-k .', 'other funding sources , such as secured financing transactions and other margin requirements , for which there are no explicit triggers , could also be adversely affected. .']

( in millions ) | december 31 2017 | december 31 2016 | december 31 2017 | 2016 ----------|----------|----------|----------|---------- client deposits | $ 180149 | $ 176693 | $ 158996 | $ 156029 wholesale cds | 4747 | 10470 | 4812 | 14456 total deposits | $ 184896 | $ 187163 | $ 163808 | $ 170485

subtract(4.40, 2.84), divide(#0, 2.84)

0.5493

what percentage of total average securities and certain overnight cash deposits that are included in gce during 2013 were non-u.s . dollar-denominated?

Pre-text: ['management 2019s discussion and analysis liquidity risk management liquidity is of critical importance to financial institutions .', 'most of the failures of financial institutions have occurred in large part due to insufficient liquidity .', 'accordingly , the firm has in place a comprehensive and conservative set of liquidity and funding policies to address both firm-specific and broader industry or market liquidity events .', 'our principal objective is to be able to fund the firm and to enable our core businesses to continue to serve clients and generate revenues , even under adverse circumstances .', 'we manage liquidity risk according to the following principles : excess liquidity .', 'we maintain substantial excess liquidity to meet a broad range of potential cash outflows and collateral needs in a stressed environment .', 'asset-liability management .', 'we assess anticipated holding periods for our assets and their expected liquidity in a stressed environment .', 'we manage the maturities and diversity of our funding across markets , products and counterparties , and seek to maintain liabilities of appropriate tenor relative to our asset base .', 'contingency funding plan .', 'we maintain a contingency funding plan to provide a framework for analyzing and responding to a liquidity crisis situation or periods of market stress .', 'this framework sets forth the plan of action to fund normal business activity in emergency and stress situations .', 'these principles are discussed in more detail below .', 'excess liquidity our most important liquidity policy is to pre-fund our estimated potential cash and collateral needs during a liquidity crisis and hold this excess liquidity in the form of unencumbered , highly liquid securities and cash .', 'we believe that the securities held in our global core excess would be readily convertible to cash in a matter of days , through liquidation , by entering into repurchase agreements or from maturities of resale agreements , and that this cash would allow us to meet immediate obligations without needing to sell other assets or depend on additional funding from credit-sensitive markets .', 'as of december 2013 and december 2012 , the fair value of the securities and certain overnight cash deposits included in our gce totaled $ 184.07 billion and $ 174.62 billion , respectively .', 'based on the results of our internal liquidity risk model , discussed below , as well as our consideration of other factors including , but not limited to , an assessment of our potential intraday liquidity needs and a qualitative assessment of the condition of the financial markets and the firm , we believe our liquidity position as of both december 2013 and december 2012 was appropriate .', 'the table below presents the fair value of the securities and certain overnight cash deposits that are included in our gce .', 'average for the year ended december in millions 2013 2012 .'] Data Table: in millions, average for theyear ended december 2013, average for theyear ended december 2012 u.s . dollar-denominated, $ 136824, $ 125111 non-u.s . dollar-denominated, 45826, 46984 total, $ 182650, $ 172095 Additional Information: ['the u.s .', 'dollar-denominated excess is composed of ( i ) unencumbered u.s .', 'government and federal agency obligations ( including highly liquid u.s .', 'federal agency mortgage-backed obligations ) , all of which are eligible as collateral in federal reserve open market operations and ( ii ) certain overnight u.s .', 'dollar cash deposits .', 'the non- u.s .', 'dollar-denominated excess is composed of only unencumbered german , french , japanese and united kingdom government obligations and certain overnight cash deposits in highly liquid currencies .', 'we strictly limit our excess liquidity to this narrowly defined list of securities and cash because they are highly liquid , even in a difficult funding environment .', 'we do not include other potential sources of excess liquidity , such as less liquid unencumbered securities or committed credit facilities , in our gce .', 'goldman sachs 2013 annual report 83 .']

0.2509

GS/2013/page_85.pdf-1

['management 2019s discussion and analysis liquidity risk management liquidity is of critical importance to financial institutions .', 'most of the failures of financial institutions have occurred in large part due to insufficient liquidity .', 'accordingly , the firm has in place a comprehensive and conservative set of liquidity and funding policies to address both firm-specific and broader industry or market liquidity events .', 'our principal objective is to be able to fund the firm and to enable our core businesses to continue to serve clients and generate revenues , even under adverse circumstances .', 'we manage liquidity risk according to the following principles : excess liquidity .', 'we maintain substantial excess liquidity to meet a broad range of potential cash outflows and collateral needs in a stressed environment .', 'asset-liability management .', 'we assess anticipated holding periods for our assets and their expected liquidity in a stressed environment .', 'we manage the maturities and diversity of our funding across markets , products and counterparties , and seek to maintain liabilities of appropriate tenor relative to our asset base .', 'contingency funding plan .', 'we maintain a contingency funding plan to provide a framework for analyzing and responding to a liquidity crisis situation or periods of market stress .', 'this framework sets forth the plan of action to fund normal business activity in emergency and stress situations .', 'these principles are discussed in more detail below .', 'excess liquidity our most important liquidity policy is to pre-fund our estimated potential cash and collateral needs during a liquidity crisis and hold this excess liquidity in the form of unencumbered , highly liquid securities and cash .', 'we believe that the securities held in our global core excess would be readily convertible to cash in a matter of days , through liquidation , by entering into repurchase agreements or from maturities of resale agreements , and that this cash would allow us to meet immediate obligations without needing to sell other assets or depend on additional funding from credit-sensitive markets .', 'as of december 2013 and december 2012 , the fair value of the securities and certain overnight cash deposits included in our gce totaled $ 184.07 billion and $ 174.62 billion , respectively .', 'based on the results of our internal liquidity risk model , discussed below , as well as our consideration of other factors including , but not limited to , an assessment of our potential intraday liquidity needs and a qualitative assessment of the condition of the financial markets and the firm , we believe our liquidity position as of both december 2013 and december 2012 was appropriate .', 'the table below presents the fair value of the securities and certain overnight cash deposits that are included in our gce .', 'average for the year ended december in millions 2013 2012 .']

['the u.s .', 'dollar-denominated excess is composed of ( i ) unencumbered u.s .', 'government and federal agency obligations ( including highly liquid u.s .', 'federal agency mortgage-backed obligations ) , all of which are eligible as collateral in federal reserve open market operations and ( ii ) certain overnight u.s .', 'dollar cash deposits .', 'the non- u.s .', 'dollar-denominated excess is composed of only unencumbered german , french , japanese and united kingdom government obligations and certain overnight cash deposits in highly liquid currencies .', 'we strictly limit our excess liquidity to this narrowly defined list of securities and cash because they are highly liquid , even in a difficult funding environment .', 'we do not include other potential sources of excess liquidity , such as less liquid unencumbered securities or committed credit facilities , in our gce .', 'goldman sachs 2013 annual report 83 .']

in millions, average for theyear ended december 2013, average for theyear ended december 2012 u.s . dollar-denominated, $ 136824, $ 125111 non-u.s . dollar-denominated, 45826, 46984 total, $ 182650, $ 172095

divide(45826, 182650)

0.2509

what was the percent of the total tumber of shares purchased that was not of the shares purchased as part of publicly announced plans or programs

Background: ['issuer purchases of equity securities ( registered pursuant to section 12 of the exchange act ) period number of shares purchased average price paid per share number of shares purchased as part of publicly announced plans or programs maximum approximate dollar value of shares that may yet be purchased under the plans or programs ( 1 ) ( millions ) .'] ######## Tabular Data: **************************************** period, total number of shares purchased ( 1 ), average price paid per share, total number of shares purchased as part of publicly announced plans or programs, maximum approximate dollar value of shares that may yet be purchased under the plans or programs ( millions ) january 1-31 2007, 1311268, $ 76.33, 1277200, $ 651 february 1-28 2007, 6542591, $ 75.12, 6522500, $ 6731 march 1-31 2007, 8187472, $ 75.59, 8151700, $ 6115 total january 1 2014 march 31 2007, 16041331, $ 75.46, 15951400, $ 6115 april 1-30 2007, 3548221, $ 77.55, 3476700, $ 5846 may 1-31 2007, 4428219, $ 85.84, 4202800, $ 5485 june 1-30 2007, 3885033, $ 86.58, 3810800, $ 5155 total april 1 2014 june 30 2007, 11861473, $ 83.60, 11490300, $ 5155 july 1-31 2007, 1646251, $ 89.01, 1510300, $ 5021 august 1-31 2007, 2329478, $ 87.05, 2247300, $ 4825 september 1-30 2007, 2086564, $ 90.24, 2029600, $ 4642 total july 1 2014 september 30 2007, 6062293, $ 88.68, 5787200, $ 4642 october 1-31 2007, 2192302, $ 88.89, 2178500, $ 4448 november 1-30 2007, 1702375, $ 82.35, 1692000, $ 4309 december 1-31 2007, 1896612, $ 85.41, 1873500, $ 4149 total october 1 2014 dec . 31 2007, 5791289, $ 85.83, 5744000, $ 4149 total january 1 2014 december 31 2007, 39756386, $ 81.42, 38972900, $ 4149 **************************************** ######## Follow-up: ['( 1 ) the total number of shares purchased includes : ( i ) shares purchased under the board 2019s authorizations described above , and ( ii ) shares purchased in connection with the exercise of stock options ( which totaled 34068 shares in january 2007 , 20091 shares in february 2007 , 35772 shares in march 2007 , 71521 shares in april 2007 , 225419 shares in may 2007 , 74233 shares in june 2007 , 135951 shares in july 2007 , 82178 shares in august 2007 , 56964 shares in september 2007 , 13802 shares in october 2007 , 10375 shares in november 2007 , and 23112 shares in december 2007 ) . .']

0.0201

MMM/2007/page_16.pdf-1

['issuer purchases of equity securities ( registered pursuant to section 12 of the exchange act ) period number of shares purchased average price paid per share number of shares purchased as part of publicly announced plans or programs maximum approximate dollar value of shares that may yet be purchased under the plans or programs ( 1 ) ( millions ) .']

['( 1 ) the total number of shares purchased includes : ( i ) shares purchased under the board 2019s authorizations described above , and ( ii ) shares purchased in connection with the exercise of stock options ( which totaled 34068 shares in january 2007 , 20091 shares in february 2007 , 35772 shares in march 2007 , 71521 shares in april 2007 , 225419 shares in may 2007 , 74233 shares in june 2007 , 135951 shares in july 2007 , 82178 shares in august 2007 , 56964 shares in september 2007 , 13802 shares in october 2007 , 10375 shares in november 2007 , and 23112 shares in december 2007 ) . .']

**************************************** period, total number of shares purchased ( 1 ), average price paid per share, total number of shares purchased as part of publicly announced plans or programs, maximum approximate dollar value of shares that may yet be purchased under the plans or programs ( millions ) january 1-31 2007, 1311268, $ 76.33, 1277200, $ 651 february 1-28 2007, 6542591, $ 75.12, 6522500, $ 6731 march 1-31 2007, 8187472, $ 75.59, 8151700, $ 6115 total january 1 2014 march 31 2007, 16041331, $ 75.46, 15951400, $ 6115 april 1-30 2007, 3548221, $ 77.55, 3476700, $ 5846 may 1-31 2007, 4428219, $ 85.84, 4202800, $ 5485 june 1-30 2007, 3885033, $ 86.58, 3810800, $ 5155 total april 1 2014 june 30 2007, 11861473, $ 83.60, 11490300, $ 5155 july 1-31 2007, 1646251, $ 89.01, 1510300, $ 5021 august 1-31 2007, 2329478, $ 87.05, 2247300, $ 4825 september 1-30 2007, 2086564, $ 90.24, 2029600, $ 4642 total july 1 2014 september 30 2007, 6062293, $ 88.68, 5787200, $ 4642 october 1-31 2007, 2192302, $ 88.89, 2178500, $ 4448 november 1-30 2007, 1702375, $ 82.35, 1692000, $ 4309 december 1-31 2007, 1896612, $ 85.41, 1873500, $ 4149 total october 1 2014 dec . 31 2007, 5791289, $ 85.83, 5744000, $ 4149 total january 1 2014 december 31 2007, 39756386, $ 81.42, 38972900, $ 4149 ****************************************

subtract(39756386, 38972900), divide(#0, 38972900)

0.0201

based on the december 31 2018 target what was the debt to equity ratio

Context: ['republic services , inc .', 'notes to consolidated financial statements 2014 ( continued ) we determine the discount rate used in the measurement of our obligations based on a model that matches the timing and amount of expected benefit payments to maturities of high quality bonds priced as of the plan measurement date .', 'when that timing does not correspond to a published high-quality bond rate , our model uses an expected yield curve to determine an appropriate current discount rate .', 'the yields on the bonds are used to derive a discount rate for the liability .', 'the term of our obligation , based on the expected retirement dates of our workforce , is approximately seven years .', 'in developing our expected rate of return assumption , we have evaluated the actual historical performance and long-term return projections of the plan assets , which give consideration to the asset mix and the anticipated timing of the plan outflows .', 'we employ a total return investment approach whereby a mix of equity and fixed income investments are used to maximize the long-term return of plan assets for what we consider a prudent level of risk .', 'the intent of this strategy is to minimize plan expenses by outperforming plan liabilities over the long run .', 'risk tolerance is established through careful consideration of plan liabilities , plan funded status and our financial condition .', 'the investment portfolio contains a diversified blend of equity and fixed income investments .', 'furthermore , equity investments are diversified across u.s .', 'and non-u.s .', 'stocks as well as growth , value , and small and large capitalizations .', 'derivatives may be used to gain market exposure in an efficient and timely manner ; however , derivatives may not be used to leverage the portfolio beyond the market value of the underlying investments .', 'investment risk is measured and monitored on an ongoing basis through annual liability measurements , periodic asset and liability studies , and quarterly investment portfolio reviews .', 'the following table summarizes our target asset allocation as of december 31 , 2018 and the actual asset allocation as of december 31 , 2018 and 2017 for our plan : december 31 , target allocation december 31 , actual allocation december 31 , actual allocation .'] ########## Tabular Data: december 31 2018 targetassetallocation december 31 2018 actualassetallocation december 31 2017 actualassetallocation debt securities 82% ( 82 % ) 83% ( 83 % ) 70% ( 70 % ) equity securities 18 17 30 total 100% ( 100 % ) 100% ( 100 % ) 100% ( 100 % ) ########## Post-table: ['asset allocations are reviewed and rebalanced periodically based on funded status .', 'for 2019 , the investment strategy for plan assets is to maintain a broadly diversified portfolio designed to achieve our target of an average long-term rate of return of 5.20% ( 5.20 % ) .', 'while we believe we can achieve a long-term average return of 5.20% ( 5.20 % ) , we cannot be certain that the portfolio will perform to our expectations .', 'assets are strategically allocated among debt and equity portfolios to achieve a diversification level that reduces fluctuations in investment returns .', 'asset allocation target ranges and strategies are reviewed periodically with the assistance of an independent external consulting firm. .']

4.55556

RSG/2018/page_135.pdf-1

['republic services , inc .', 'notes to consolidated financial statements 2014 ( continued ) we determine the discount rate used in the measurement of our obligations based on a model that matches the timing and amount of expected benefit payments to maturities of high quality bonds priced as of the plan measurement date .', 'when that timing does not correspond to a published high-quality bond rate , our model uses an expected yield curve to determine an appropriate current discount rate .', 'the yields on the bonds are used to derive a discount rate for the liability .', 'the term of our obligation , based on the expected retirement dates of our workforce , is approximately seven years .', 'in developing our expected rate of return assumption , we have evaluated the actual historical performance and long-term return projections of the plan assets , which give consideration to the asset mix and the anticipated timing of the plan outflows .', 'we employ a total return investment approach whereby a mix of equity and fixed income investments are used to maximize the long-term return of plan assets for what we consider a prudent level of risk .', 'the intent of this strategy is to minimize plan expenses by outperforming plan liabilities over the long run .', 'risk tolerance is established through careful consideration of plan liabilities , plan funded status and our financial condition .', 'the investment portfolio contains a diversified blend of equity and fixed income investments .', 'furthermore , equity investments are diversified across u.s .', 'and non-u.s .', 'stocks as well as growth , value , and small and large capitalizations .', 'derivatives may be used to gain market exposure in an efficient and timely manner ; however , derivatives may not be used to leverage the portfolio beyond the market value of the underlying investments .', 'investment risk is measured and monitored on an ongoing basis through annual liability measurements , periodic asset and liability studies , and quarterly investment portfolio reviews .', 'the following table summarizes our target asset allocation as of december 31 , 2018 and the actual asset allocation as of december 31 , 2018 and 2017 for our plan : december 31 , target allocation december 31 , actual allocation december 31 , actual allocation .']

['asset allocations are reviewed and rebalanced periodically based on funded status .', 'for 2019 , the investment strategy for plan assets is to maintain a broadly diversified portfolio designed to achieve our target of an average long-term rate of return of 5.20% ( 5.20 % ) .', 'while we believe we can achieve a long-term average return of 5.20% ( 5.20 % ) , we cannot be certain that the portfolio will perform to our expectations .', 'assets are strategically allocated among debt and equity portfolios to achieve a diversification level that reduces fluctuations in investment returns .', 'asset allocation target ranges and strategies are reviewed periodically with the assistance of an independent external consulting firm. .']

december 31 2018 targetassetallocation december 31 2018 actualassetallocation december 31 2017 actualassetallocation debt securities 82% ( 82 % ) 83% ( 83 % ) 70% ( 70 % ) equity securities 18 17 30 total 100% ( 100 % ) 100% ( 100 % ) 100% ( 100 % )

divide(82, 18)

4.55556

what was the number of shares of stockholders of record on december 29 , 2017 in millions

Context: ['humana inc .', 'notes to consolidated financial statements 2014 ( continued ) 15 .', 'stockholders 2019 equity dividends the following table provides details of dividend payments , excluding dividend equivalent rights , in 2015 , 2016 , and 2017 under our board approved quarterly cash dividend policy : payment amount per share amount ( in millions ) .'] Data Table: ======================================== paymentdate, amountper share, totalamount ( in millions ) 2015, $ 1.14, $ 170 2016, $ 1.16, $ 172 2017, $ 1.49, $ 216 ======================================== Post-table: ['on november 2 , 2017 , the board declared a cash dividend of $ 0.40 per share that was paid on january 26 , 2018 to stockholders of record on december 29 , 2017 , for an aggregate amount of $ 55 million .', 'declaration and payment of future quarterly dividends is at the discretion of our board and may be adjusted as business needs or market conditions change .', 'stock repurchases in september 2014 , our board of directors replaced a previous share repurchase authorization of up to $ 1 billion ( of which $ 816 million remained unused ) with an authorization for repurchases of up to $ 2 billion of our common shares exclusive of shares repurchased in connection with employee stock plans , which expired on december 31 , 2016 .', 'under the share repurchase authorization , shares may have been purchased from time to time at prevailing prices in the open market , by block purchases , through plans designed to comply with rule 10b5-1 under the securities exchange act of 1934 , as amended , or in privately-negotiated transactions ( including pursuant to accelerated share repurchase agreements with investment banks ) , subject to certain regulatory restrictions on volume , pricing , and timing .', 'pursuant to the merger agreement , after july 2 , 2015 , we were prohibited from repurchasing any of our outstanding securities without the prior written consent of aetna , other than repurchases of shares of our common stock in connection with the exercise of outstanding stock options or the vesting or settlement of outstanding restricted stock awards .', 'accordingly , as announced on july 3 , 2015 , we suspended our share repurchase program .', 'on february 14 , 2017 , we and aetna agreed to mutually terminate the merger agreement .', 'we also announced that the board had approved a new authorization for share repurchases of up to $ 2.25 billion of our common stock exclusive of shares repurchased in connection with employee stock plans , expiring on december 31 , 2017 .', 'on february 16 , 2017 , we entered into an accelerated share repurchase agreement , the february 2017 asr , with goldman , sachs & co .', 'llc , or goldman sachs , to repurchase $ 1.5 billion of our common stock as part of the $ 2.25 billion share repurchase program referred to above .', 'on february 22 , 2017 , we made a payment of $ 1.5 billion to goldman sachs from available cash on hand and received an initial delivery of 5.83 million shares of our common stock from goldman sachs based on the then current market price of humana common stock .', 'the payment to goldman sachs was recorded as a reduction to stockholders 2019 equity , consisting of a $ 1.2 billion increase in treasury stock , which reflected the value of the initial 5.83 million shares received upon initial settlement , and a $ 300 million decrease in capital in excess of par value , which reflected the value of stock held back by goldman sachs pending final settlement of the february 2017 asr .', 'upon settlement of the february 2017 asr on august 28 , 2017 , we received an additional 0.84 million shares as determined by the average daily volume weighted-average share price of our common stock during the term of the agreement of $ 224.81 , bringing the total shares received under this program to 6.67 million .', 'in addition , upon settlement we reclassified the $ 300 million value of stock initially held back by goldman sachs from capital in excess of par value to treasury stock .', 'subsequent to settlement of the february 2017 asr , we repurchased an additional 3.04 million shares in the open market , utilizing the remaining $ 750 million of the $ 2.25 billion authorization prior to expiration. .']

137.5

HUM/2017/page_133.pdf-2

['humana inc .', 'notes to consolidated financial statements 2014 ( continued ) 15 .', 'stockholders 2019 equity dividends the following table provides details of dividend payments , excluding dividend equivalent rights , in 2015 , 2016 , and 2017 under our board approved quarterly cash dividend policy : payment amount per share amount ( in millions ) .']

['on november 2 , 2017 , the board declared a cash dividend of $ 0.40 per share that was paid on january 26 , 2018 to stockholders of record on december 29 , 2017 , for an aggregate amount of $ 55 million .', 'declaration and payment of future quarterly dividends is at the discretion of our board and may be adjusted as business needs or market conditions change .', 'stock repurchases in september 2014 , our board of directors replaced a previous share repurchase authorization of up to $ 1 billion ( of which $ 816 million remained unused ) with an authorization for repurchases of up to $ 2 billion of our common shares exclusive of shares repurchased in connection with employee stock plans , which expired on december 31 , 2016 .', 'under the share repurchase authorization , shares may have been purchased from time to time at prevailing prices in the open market , by block purchases , through plans designed to comply with rule 10b5-1 under the securities exchange act of 1934 , as amended , or in privately-negotiated transactions ( including pursuant to accelerated share repurchase agreements with investment banks ) , subject to certain regulatory restrictions on volume , pricing , and timing .', 'pursuant to the merger agreement , after july 2 , 2015 , we were prohibited from repurchasing any of our outstanding securities without the prior written consent of aetna , other than repurchases of shares of our common stock in connection with the exercise of outstanding stock options or the vesting or settlement of outstanding restricted stock awards .', 'accordingly , as announced on july 3 , 2015 , we suspended our share repurchase program .', 'on february 14 , 2017 , we and aetna agreed to mutually terminate the merger agreement .', 'we also announced that the board had approved a new authorization for share repurchases of up to $ 2.25 billion of our common stock exclusive of shares repurchased in connection with employee stock plans , expiring on december 31 , 2017 .', 'on february 16 , 2017 , we entered into an accelerated share repurchase agreement , the february 2017 asr , with goldman , sachs & co .', 'llc , or goldman sachs , to repurchase $ 1.5 billion of our common stock as part of the $ 2.25 billion share repurchase program referred to above .', 'on february 22 , 2017 , we made a payment of $ 1.5 billion to goldman sachs from available cash on hand and received an initial delivery of 5.83 million shares of our common stock from goldman sachs based on the then current market price of humana common stock .', 'the payment to goldman sachs was recorded as a reduction to stockholders 2019 equity , consisting of a $ 1.2 billion increase in treasury stock , which reflected the value of the initial 5.83 million shares received upon initial settlement , and a $ 300 million decrease in capital in excess of par value , which reflected the value of stock held back by goldman sachs pending final settlement of the february 2017 asr .', 'upon settlement of the february 2017 asr on august 28 , 2017 , we received an additional 0.84 million shares as determined by the average daily volume weighted-average share price of our common stock during the term of the agreement of $ 224.81 , bringing the total shares received under this program to 6.67 million .', 'in addition , upon settlement we reclassified the $ 300 million value of stock initially held back by goldman sachs from capital in excess of par value to treasury stock .', 'subsequent to settlement of the february 2017 asr , we repurchased an additional 3.04 million shares in the open market , utilizing the remaining $ 750 million of the $ 2.25 billion authorization prior to expiration. .']

======================================== paymentdate, amountper share, totalamount ( in millions ) 2015, $ 1.14, $ 170 2016, $ 1.16, $ 172 2017, $ 1.49, $ 216 ========================================

divide(55, 0.40)

137.5

what was the percentage increase in the operating income from 2016 to 2017

Background: ['december 2016 acquisition of camber and higher volumes in fleet support and oil and gas services , partially offset by lower nuclear and environmental volumes due to the resolution in 2016 of outstanding contract changes on a nuclear and environmental commercial contract .', 'segment operating income 2018 - operating income in the technical solutions segment for the year ended december 31 , 2018 , was $ 32 million , compared to operating income of $ 21 million in 2017 .', 'the increase was primarily due to an allowance for accounts receivable in 2017 on a nuclear and environmental commercial contract and higher income from operating investments at our nuclear and environmental joint ventures , partially offset by one time employee bonus payments in 2018 related to the tax act and lower performance in fleet support services .', '2017 - operating income in the technical solutions segment for the year ended december 31 , 2017 , was $ 21 million , compared to operating income of $ 8 million in 2016 .', 'the increase was primarily due to improved performance in oil and gas services and higher volume in mdis services following the december 2016 acquisition of camber , partially offset by the establishment of an allowance for accounts receivable on a nuclear and environmental commercial contract in 2017 and the resolution in 2016 of outstanding contract changes on a nuclear and environmental commercial contract .', 'backlog total backlog as of december 31 , 2018 , was approximately $ 23 billion .', 'total backlog includes both funded backlog ( firm orders for which funding is contractually obligated by the customer ) and unfunded backlog ( firm orders for which funding is not currently contractually obligated by the customer ) .', 'backlog excludes unexercised contract options and unfunded idiq orders .', 'for contracts having no stated contract values , backlog includes only the amounts committed by the customer .', 'the following table presents funded and unfunded backlog by segment as of december 31 , 2018 and 2017: .'] ########## Tabular Data: ======================================== ( $ in millions ) | december 31 2018 funded | december 31 2018 unfunded | december 31 2018 total backlog | december 31 2018 funded | december 31 2018 unfunded | total backlog ingalls | $ 9943 | $ 1422 | $ 11365 | $ 5920 | $ 2071 | $ 7991 newport news | 6767 | 4144 | 10911 | 6976 | 5608 | 12584 technical solutions | 339 | 380 | 719 | 478 | 314 | 792 total backlog | $ 17049 | $ 5946 | $ 22995 | $ 13374 | $ 7993 | $ 21367 ======================================== ########## Post-table: ['we expect approximately 30% ( 30 % ) of the $ 23 billion total backlog as of december 31 , 2018 , to be converted into sales in 2019 .', 'u.s .', 'government orders comprised substantially all of the backlog as of december 31 , 2018 and 2017 .', 'awards 2018 - the value of new contract awards during the year ended december 31 , 2018 , was approximately $ 9.8 billion .', 'significant new awards during the period included contracts for the construction of three arleigh burke class ( ddg 51 ) destroyers , for the detail design and construction of richard m .', 'mccool jr .', '( lpd 29 ) , for procurement of long-lead-time material for enterprise ( cvn 80 ) , and for the construction of nsc 10 ( unnamed ) and nsc 11 ( unnamed ) .', 'in addition , we received awards in 2019 valued at $ 15.2 billion for detail design and construction of the gerald r .', 'ford class ( cvn 78 ) aircraft carriers enterprise ( cvn 80 ) and cvn 81 ( unnamed ) .', '2017 - the value of new contract awards during the year ended december 31 , 2017 , was approximately $ 8.1 billion .', 'significant new awards during this period included the detailed design and construction contract for bougainville ( lha 8 ) and the execution contract for the rcoh of uss george washington ( cvn 73 ) . .']

1.625

HII/2018/page_64.pdf-1

['december 2016 acquisition of camber and higher volumes in fleet support and oil and gas services , partially offset by lower nuclear and environmental volumes due to the resolution in 2016 of outstanding contract changes on a nuclear and environmental commercial contract .', 'segment operating income 2018 - operating income in the technical solutions segment for the year ended december 31 , 2018 , was $ 32 million , compared to operating income of $ 21 million in 2017 .', 'the increase was primarily due to an allowance for accounts receivable in 2017 on a nuclear and environmental commercial contract and higher income from operating investments at our nuclear and environmental joint ventures , partially offset by one time employee bonus payments in 2018 related to the tax act and lower performance in fleet support services .', '2017 - operating income in the technical solutions segment for the year ended december 31 , 2017 , was $ 21 million , compared to operating income of $ 8 million in 2016 .', 'the increase was primarily due to improved performance in oil and gas services and higher volume in mdis services following the december 2016 acquisition of camber , partially offset by the establishment of an allowance for accounts receivable on a nuclear and environmental commercial contract in 2017 and the resolution in 2016 of outstanding contract changes on a nuclear and environmental commercial contract .', 'backlog total backlog as of december 31 , 2018 , was approximately $ 23 billion .', 'total backlog includes both funded backlog ( firm orders for which funding is contractually obligated by the customer ) and unfunded backlog ( firm orders for which funding is not currently contractually obligated by the customer ) .', 'backlog excludes unexercised contract options and unfunded idiq orders .', 'for contracts having no stated contract values , backlog includes only the amounts committed by the customer .', 'the following table presents funded and unfunded backlog by segment as of december 31 , 2018 and 2017: .']

['we expect approximately 30% ( 30 % ) of the $ 23 billion total backlog as of december 31 , 2018 , to be converted into sales in 2019 .', 'u.s .', 'government orders comprised substantially all of the backlog as of december 31 , 2018 and 2017 .', 'awards 2018 - the value of new contract awards during the year ended december 31 , 2018 , was approximately $ 9.8 billion .', 'significant new awards during the period included contracts for the construction of three arleigh burke class ( ddg 51 ) destroyers , for the detail design and construction of richard m .', 'mccool jr .', '( lpd 29 ) , for procurement of long-lead-time material for enterprise ( cvn 80 ) , and for the construction of nsc 10 ( unnamed ) and nsc 11 ( unnamed ) .', 'in addition , we received awards in 2019 valued at $ 15.2 billion for detail design and construction of the gerald r .', 'ford class ( cvn 78 ) aircraft carriers enterprise ( cvn 80 ) and cvn 81 ( unnamed ) .', '2017 - the value of new contract awards during the year ended december 31 , 2017 , was approximately $ 8.1 billion .', 'significant new awards during this period included the detailed design and construction contract for bougainville ( lha 8 ) and the execution contract for the rcoh of uss george washington ( cvn 73 ) . .']

======================================== ( $ in millions ) | december 31 2018 funded | december 31 2018 unfunded | december 31 2018 total backlog | december 31 2018 funded | december 31 2018 unfunded | total backlog ingalls | $ 9943 | $ 1422 | $ 11365 | $ 5920 | $ 2071 | $ 7991 newport news | 6767 | 4144 | 10911 | 6976 | 5608 | 12584 technical solutions | 339 | 380 | 719 | 478 | 314 | 792 total backlog | $ 17049 | $ 5946 | $ 22995 | $ 13374 | $ 7993 | $ 21367 ========================================

subtract(21, const_8), divide(#0, const_8)

1.625

what is the tax expense related to discontinued operations in 2013?

Context: ['dish network corporation notes to consolidated financial statements - continued recorded as a decrease in 201cincome tax ( provision ) benefit , net 201d on our consolidated statements of operations and comprehensive income ( loss ) for the year ended december 31 , 2013 .', '10 .', 'discontinued operations as of december 31 , 2013 , blockbuster had ceased material operations .', 'the results of blockbuster are presented for all periods as discontinued operations in our consolidated financial statements .', 'during the years ended december 31 , 2013 and 2012 , the revenue from our discontinued operations was $ 503 million and $ 1.085 billion , respectively .', '201cincome ( loss ) from discontinued operations , before income taxes 201d for the same periods was a loss of $ 54 million and $ 62 million , respectively .', 'in addition , 201cincome ( loss ) from discontinued operations , net of tax 201d for the same periods was a loss of $ 47 million and $ 37 million , respectively .', 'as of december 31 , 2013 , the net assets from our discontinued operations consisted of the following : december 31 , 2013 ( in thousands ) .'] ###### Table: Row 1: , as of december 31 2013 ( in thousands ) Row 2: current assets from discontinued operations, $ 68239 Row 3: noncurrent assets from discontinued operations, 9965 Row 4: current liabilities from discontinued operations, -49471 ( 49471 ) Row 5: long-term liabilities from discontinued operations, -19804 ( 19804 ) Row 6: net assets from discontinued operations, $ 8929 ###### Post-table: ['blockbuster - domestic since the blockbuster acquisition , we continually evaluated the impact of certain factors , including , among other things , competitive pressures , the ability of significantly fewer company-owned domestic retail stores to continue to support corporate administrative costs , and other issues impacting the store-level financial performance of our company-owned domestic retail stores .', 'these factors , among others , previously led us to close a significant number of company-owned domestic retail stores during 2012 and 2013 .', 'on november 6 , 2013 , we announced that blockbuster would close all of its remaining company-owned domestic retail stores and discontinue the blockbuster by-mail dvd service .', 'as of december 31 , 2013 , blockbuster had ceased material operations .', 'blockbuster 2013 mexico during the third quarter 2013 , we determined that our blockbuster operations in mexico ( 201cblockbuster mexico 201d ) were 201cheld for sale . 201d as a result , we recorded pre-tax impairment charges of $ 19 million related to exiting the business , which was recorded in 201cincome ( loss ) from discontinued operations , net of tax 201d on our consolidated statements of operations and comprehensive income ( loss ) for the year ended december 31 , 2013 .', 'on january 14 , 2014 , we completed the sale of blockbuster mexico .', 'blockbuster uk administration on january 16 , 2013 , blockbuster entertainment limited and blockbuster gb limited , our blockbuster operating subsidiaries in the united kingdom , entered into administration proceedings in the united kingdom ( the 201cadministration 201d ) .', 'as a result of the administration , we wrote down the assets of all our blockbuster uk subsidiaries to their estimated net realizable value on our consolidated balance sheets as of december 31 , 2012 .', 'in total , we recorded charges of approximately $ 46 million on a pre-tax basis related to the administration , which was recorded in 201cincome ( loss ) from discontinued operations , net of tax 201d on our consolidated statements of operations and comprehensive income ( loss ) for the year ended december 31 , 2012. .']

7.0

DISH/2014/page_137.pdf-1

['dish network corporation notes to consolidated financial statements - continued recorded as a decrease in 201cincome tax ( provision ) benefit , net 201d on our consolidated statements of operations and comprehensive income ( loss ) for the year ended december 31 , 2013 .', '10 .', 'discontinued operations as of december 31 , 2013 , blockbuster had ceased material operations .', 'the results of blockbuster are presented for all periods as discontinued operations in our consolidated financial statements .', 'during the years ended december 31 , 2013 and 2012 , the revenue from our discontinued operations was $ 503 million and $ 1.085 billion , respectively .', '201cincome ( loss ) from discontinued operations , before income taxes 201d for the same periods was a loss of $ 54 million and $ 62 million , respectively .', 'in addition , 201cincome ( loss ) from discontinued operations , net of tax 201d for the same periods was a loss of $ 47 million and $ 37 million , respectively .', 'as of december 31 , 2013 , the net assets from our discontinued operations consisted of the following : december 31 , 2013 ( in thousands ) .']

['blockbuster - domestic since the blockbuster acquisition , we continually evaluated the impact of certain factors , including , among other things , competitive pressures , the ability of significantly fewer company-owned domestic retail stores to continue to support corporate administrative costs , and other issues impacting the store-level financial performance of our company-owned domestic retail stores .', 'these factors , among others , previously led us to close a significant number of company-owned domestic retail stores during 2012 and 2013 .', 'on november 6 , 2013 , we announced that blockbuster would close all of its remaining company-owned domestic retail stores and discontinue the blockbuster by-mail dvd service .', 'as of december 31 , 2013 , blockbuster had ceased material operations .', 'blockbuster 2013 mexico during the third quarter 2013 , we determined that our blockbuster operations in mexico ( 201cblockbuster mexico 201d ) were 201cheld for sale . 201d as a result , we recorded pre-tax impairment charges of $ 19 million related to exiting the business , which was recorded in 201cincome ( loss ) from discontinued operations , net of tax 201d on our consolidated statements of operations and comprehensive income ( loss ) for the year ended december 31 , 2013 .', 'on january 14 , 2014 , we completed the sale of blockbuster mexico .', 'blockbuster uk administration on january 16 , 2013 , blockbuster entertainment limited and blockbuster gb limited , our blockbuster operating subsidiaries in the united kingdom , entered into administration proceedings in the united kingdom ( the 201cadministration 201d ) .', 'as a result of the administration , we wrote down the assets of all our blockbuster uk subsidiaries to their estimated net realizable value on our consolidated balance sheets as of december 31 , 2012 .', 'in total , we recorded charges of approximately $ 46 million on a pre-tax basis related to the administration , which was recorded in 201cincome ( loss ) from discontinued operations , net of tax 201d on our consolidated statements of operations and comprehensive income ( loss ) for the year ended december 31 , 2012. .']

Row 1: , as of december 31 2013 ( in thousands ) Row 2: current assets from discontinued operations, $ 68239 Row 3: noncurrent assets from discontinued operations, 9965 Row 4: current liabilities from discontinued operations, -49471 ( 49471 ) Row 5: long-term liabilities from discontinued operations, -19804 ( 19804 ) Row 6: net assets from discontinued operations, $ 8929

subtract(54, 47)

7.0

what was the change in annual rental expenses from 2015 to 2016 in dollars

Pre-text: ['long-term liabilities .', 'the value of the company 2019s deferred compensation obligations is based on the market value of the participants 2019 notional investment accounts .', 'the notional investments are comprised primarily of mutual funds , which are based on observable market prices .', 'mark-to-market derivative asset and liability 2014the company utilizes fixed-to-floating interest-rate swaps , typically designated as fair-value hedges , to achieve a targeted level of variable-rate debt as a percentage of total debt .', 'the company also employs derivative financial instruments in the form of variable-to-fixed interest rate swaps , classified as economic hedges , in order to fix the interest cost on some of its variable-rate debt .', 'the company uses a calculation of future cash inflows and estimated future outflows , which are discounted , to determine the current fair value .', 'additional inputs to the present value calculation include the contract terms , counterparty credit risk , interest rates and market volatility .', 'other investments 2014other investments primarily represent money market funds used for active employee benefits .', 'the company includes other investments in other current assets .', 'note 18 : leases the company has entered into operating leases involving certain facilities and equipment .', 'rental expenses under operating leases were $ 21 for 2015 , $ 22 for 2014 and $ 23 for 2013 .', 'the operating leases for facilities will expire over the next 25 years and the operating leases for equipment will expire over the next five years .', 'certain operating leases have renewal options ranging from one to five years .', 'the minimum annual future rental commitment under operating leases that have initial or remaining non- cancelable lease terms over the next five years and thereafter are as follows: .'] Data Table: ======================================== • year, amount • 2016, $ 13 • 2017, 12 • 2018, 11 • 2019, 10 • 2020, 8 • thereafter, 74 ======================================== Post-table: ['the company has a series of agreements with various public entities ( the 201cpartners 201d ) to establish certain joint ventures , commonly referred to as 201cpublic-private partnerships . 201d under the public-private partnerships , the company constructed utility plant , financed by the company and the partners constructed utility plant ( connected to the company 2019s property ) , financed by the partners .', 'the company agreed to transfer and convey some of its real and personal property to the partners in exchange for an equal principal amount of industrial development bonds ( 201cidbs 201d ) , issued by the partners under a state industrial development bond and commercial development act .', 'the company leased back the total facilities , including portions funded by both the company and the partners , under leases for a period of 40 years .', 'the leases related to the portion of the facilities funded by the company have required payments from the company to the partners that approximate the payments required by the terms of the idbs from the partners to the company ( as the holder of the idbs ) .', 'as the ownership of the portion of the facilities constructed by the company will revert back to the company at the end of the lease , the company has recorded these as capital leases .', 'the lease obligation and the receivable for the principal amount of the idbs are presented by the company on a net basis .', 'the gross cost of the facilities funded by the company recognized as a capital lease asset was $ 156 and $ 157 as of december 31 , 2015 and 2014 , respectively , which is presented in property , plant and equipment in the accompanying consolidated balance sheets .', 'the future payments under the lease obligations are equal to and offset by the payments receivable under the idbs. .']

8.0

AWK/2015/page_141.pdf-2

['long-term liabilities .', 'the value of the company 2019s deferred compensation obligations is based on the market value of the participants 2019 notional investment accounts .', 'the notional investments are comprised primarily of mutual funds , which are based on observable market prices .', 'mark-to-market derivative asset and liability 2014the company utilizes fixed-to-floating interest-rate swaps , typically designated as fair-value hedges , to achieve a targeted level of variable-rate debt as a percentage of total debt .', 'the company also employs derivative financial instruments in the form of variable-to-fixed interest rate swaps , classified as economic hedges , in order to fix the interest cost on some of its variable-rate debt .', 'the company uses a calculation of future cash inflows and estimated future outflows , which are discounted , to determine the current fair value .', 'additional inputs to the present value calculation include the contract terms , counterparty credit risk , interest rates and market volatility .', 'other investments 2014other investments primarily represent money market funds used for active employee benefits .', 'the company includes other investments in other current assets .', 'note 18 : leases the company has entered into operating leases involving certain facilities and equipment .', 'rental expenses under operating leases were $ 21 for 2015 , $ 22 for 2014 and $ 23 for 2013 .', 'the operating leases for facilities will expire over the next 25 years and the operating leases for equipment will expire over the next five years .', 'certain operating leases have renewal options ranging from one to five years .', 'the minimum annual future rental commitment under operating leases that have initial or remaining non- cancelable lease terms over the next five years and thereafter are as follows: .']

['the company has a series of agreements with various public entities ( the 201cpartners 201d ) to establish certain joint ventures , commonly referred to as 201cpublic-private partnerships . 201d under the public-private partnerships , the company constructed utility plant , financed by the company and the partners constructed utility plant ( connected to the company 2019s property ) , financed by the partners .', 'the company agreed to transfer and convey some of its real and personal property to the partners in exchange for an equal principal amount of industrial development bonds ( 201cidbs 201d ) , issued by the partners under a state industrial development bond and commercial development act .', 'the company leased back the total facilities , including portions funded by both the company and the partners , under leases for a period of 40 years .', 'the leases related to the portion of the facilities funded by the company have required payments from the company to the partners that approximate the payments required by the terms of the idbs from the partners to the company ( as the holder of the idbs ) .', 'as the ownership of the portion of the facilities constructed by the company will revert back to the company at the end of the lease , the company has recorded these as capital leases .', 'the lease obligation and the receivable for the principal amount of the idbs are presented by the company on a net basis .', 'the gross cost of the facilities funded by the company recognized as a capital lease asset was $ 156 and $ 157 as of december 31 , 2015 and 2014 , respectively , which is presented in property , plant and equipment in the accompanying consolidated balance sheets .', 'the future payments under the lease obligations are equal to and offset by the payments receivable under the idbs. .']

======================================== • year, amount • 2016, $ 13 • 2017, 12 • 2018, 11 • 2019, 10 • 2020, 8 • thereafter, 74 ========================================

subtract(21, 13)

8.0

what is the percentage change in interest expense-net , from 2015 to 2016?

Context: ['new term loan a facility , with the remaining unpaid principal amount of loans under the new term loan a facility due and payable in full at maturity on june 6 , 2021 .', 'principal amounts outstanding under the new revolving loan facility are due and payable in full at maturity on june 6 , 2021 , subject to earlier repayment pursuant to the springing maturity date described above .', 'in addition to paying interest on outstanding principal under the borrowings , we are obligated to pay a quarterly commitment fee at a rate determined by reference to a total leverage ratio , with a maximum commitment fee of 40% ( 40 % ) of the applicable margin for eurocurrency loans .', 'in july 2016 , breakaway four , ltd. , as borrower , and nclc , as guarantor , entered into a supplemental agreement , which amended the breakaway four loan to , among other things , increase the aggregate principal amount of commitments under the multi-draw term loan credit facility from 20ac590.5 million to 20ac729.9 million .', 'in june 2016 , we took delivery of seven seas explorer .', 'to finance the payment due upon delivery , we had export credit financing in place for 80% ( 80 % ) of the contract price .', 'the associated $ 373.6 million term loan bears interest at 3.43% ( 3.43 % ) with a maturity date of june 30 , 2028 .', 'principal and interest payments shall be paid semiannually .', 'in december 2016 , nclc issued $ 700.0 million aggregate principal amount of 4.750% ( 4.750 % ) senior unsecured notes due december 2021 ( the 201cnotes 201d ) in a private offering ( the 201coffering 201d ) at par .', 'nclc used the net proceeds from the offering , after deducting the initial purchasers 2019 discount and estimated fees and expenses , together with cash on hand , to purchase its outstanding 5.25% ( 5.25 % ) senior notes due 2019 having an aggregate outstanding principal amount of $ 680 million .', 'the redemption of the 5.25% ( 5.25 % ) senior notes due 2019 was completed in january 2017 .', 'nclc will pay interest on the notes at 4.750% ( 4.750 % ) per annum , semiannually on june 15 and december 15 of each year , commencing on june 15 , 2017 , to holders of record at the close of business on the immediately preceding june 1 and december 1 , respectively .', 'nclc may redeem the notes , in whole or part , at any time prior to december 15 , 2018 , at a price equal to 100% ( 100 % ) of the principal amount of the notes redeemed plus accrued and unpaid interest to , but not including , the redemption date and a 201cmake-whole premium . 201d nclc may redeem the notes , in whole or in part , on or after december 15 , 2018 , at the redemption prices set forth in the indenture governing the notes .', 'at any time ( which may be more than once ) on or prior to december 15 , 2018 , nclc may choose to redeem up to 40% ( 40 % ) of the aggregate principal amount of the notes at a redemption price equal to 104.750% ( 104.750 % ) of the face amount thereof with an amount equal to the net proceeds of one or more equity offerings , so long as at least 60% ( 60 % ) of the aggregate principal amount of the notes issued remains outstanding following such redemption .', 'the indenture governing the notes contains covenants that limit nclc 2019s ability ( and its restricted subsidiaries 2019 ability ) to , among other things : ( i ) incur or guarantee additional indebtedness or issue certain preferred shares ; ( ii ) pay dividends and make certain other restricted payments ; ( iii ) create restrictions on the payment of dividends or other distributions to nclc from its restricted subsidiaries ; ( iv ) create liens on certain assets to secure debt ; ( v ) make certain investments ; ( vi ) engage in transactions with affiliates ; ( vii ) engage in sales of assets and subsidiary stock ; and ( viii ) transfer all or substantially all of its assets or enter into merger or consolidation transactions .', 'the indenture governing the notes also provides for events of default , which , if any of them occurs , would permit or require the principal , premium ( if any ) , interest and other monetary obligations on all of the then-outstanding notes to become due and payable immediately .', 'interest expense , net for the year ended december 31 , 2016 was $ 276.9 million which included $ 34.7 million of amortization of deferred financing fees and a $ 27.7 million loss on extinguishment of debt .', 'interest expense , net for the year ended december 31 , 2015 was $ 221.9 million which included $ 36.7 million of amortization of deferred financing fees and a $ 12.7 million loss on extinguishment of debt .', 'interest expense , net for the year ended december 31 , 2014 was $ 151.8 million which included $ 32.3 million of amortization of deferred financing fees and $ 15.4 million of expenses related to financing transactions in connection with the acquisition of prestige .', 'certain of our debt agreements contain covenants that , among other things , require us to maintain a minimum level of liquidity , as well as limit our net funded debt-to-capital ratio , maintain certain other ratios and restrict our ability to pay dividends .', 'substantially all of our ships and other property and equipment are pledged as collateral for certain of our debt .', 'we believe we were in compliance with these covenants as of december 31 , 2016 .', 'the following are scheduled principal repayments on long-term debt including capital lease obligations as of december 31 , 2016 for each of the next five years ( in thousands ) : .'] ---- Table: ======================================== • year, amount • 2017, $ 560193 • 2018, 554846 • 2019, 561687 • 2020, 1153733 • 2021, 2193823 • thereafter, 1490322 • total, $ 6514604 ======================================== ---- Follow-up: ['we had an accrued interest liability of $ 32.5 million and $ 34.2 million as of december 31 , 2016 and 2015 , respectively. .']

0.24786

NCLH/2016/page_84.pdf-2

['new term loan a facility , with the remaining unpaid principal amount of loans under the new term loan a facility due and payable in full at maturity on june 6 , 2021 .', 'principal amounts outstanding under the new revolving loan facility are due and payable in full at maturity on june 6 , 2021 , subject to earlier repayment pursuant to the springing maturity date described above .', 'in addition to paying interest on outstanding principal under the borrowings , we are obligated to pay a quarterly commitment fee at a rate determined by reference to a total leverage ratio , with a maximum commitment fee of 40% ( 40 % ) of the applicable margin for eurocurrency loans .', 'in july 2016 , breakaway four , ltd. , as borrower , and nclc , as guarantor , entered into a supplemental agreement , which amended the breakaway four loan to , among other things , increase the aggregate principal amount of commitments under the multi-draw term loan credit facility from 20ac590.5 million to 20ac729.9 million .', 'in june 2016 , we took delivery of seven seas explorer .', 'to finance the payment due upon delivery , we had export credit financing in place for 80% ( 80 % ) of the contract price .', 'the associated $ 373.6 million term loan bears interest at 3.43% ( 3.43 % ) with a maturity date of june 30 , 2028 .', 'principal and interest payments shall be paid semiannually .', 'in december 2016 , nclc issued $ 700.0 million aggregate principal amount of 4.750% ( 4.750 % ) senior unsecured notes due december 2021 ( the 201cnotes 201d ) in a private offering ( the 201coffering 201d ) at par .', 'nclc used the net proceeds from the offering , after deducting the initial purchasers 2019 discount and estimated fees and expenses , together with cash on hand , to purchase its outstanding 5.25% ( 5.25 % ) senior notes due 2019 having an aggregate outstanding principal amount of $ 680 million .', 'the redemption of the 5.25% ( 5.25 % ) senior notes due 2019 was completed in january 2017 .', 'nclc will pay interest on the notes at 4.750% ( 4.750 % ) per annum , semiannually on june 15 and december 15 of each year , commencing on june 15 , 2017 , to holders of record at the close of business on the immediately preceding june 1 and december 1 , respectively .', 'nclc may redeem the notes , in whole or part , at any time prior to december 15 , 2018 , at a price equal to 100% ( 100 % ) of the principal amount of the notes redeemed plus accrued and unpaid interest to , but not including , the redemption date and a 201cmake-whole premium . 201d nclc may redeem the notes , in whole or in part , on or after december 15 , 2018 , at the redemption prices set forth in the indenture governing the notes .', 'at any time ( which may be more than once ) on or prior to december 15 , 2018 , nclc may choose to redeem up to 40% ( 40 % ) of the aggregate principal amount of the notes at a redemption price equal to 104.750% ( 104.750 % ) of the face amount thereof with an amount equal to the net proceeds of one or more equity offerings , so long as at least 60% ( 60 % ) of the aggregate principal amount of the notes issued remains outstanding following such redemption .', 'the indenture governing the notes contains covenants that limit nclc 2019s ability ( and its restricted subsidiaries 2019 ability ) to , among other things : ( i ) incur or guarantee additional indebtedness or issue certain preferred shares ; ( ii ) pay dividends and make certain other restricted payments ; ( iii ) create restrictions on the payment of dividends or other distributions to nclc from its restricted subsidiaries ; ( iv ) create liens on certain assets to secure debt ; ( v ) make certain investments ; ( vi ) engage in transactions with affiliates ; ( vii ) engage in sales of assets and subsidiary stock ; and ( viii ) transfer all or substantially all of its assets or enter into merger or consolidation transactions .', 'the indenture governing the notes also provides for events of default , which , if any of them occurs , would permit or require the principal , premium ( if any ) , interest and other monetary obligations on all of the then-outstanding notes to become due and payable immediately .', 'interest expense , net for the year ended december 31 , 2016 was $ 276.9 million which included $ 34.7 million of amortization of deferred financing fees and a $ 27.7 million loss on extinguishment of debt .', 'interest expense , net for the year ended december 31 , 2015 was $ 221.9 million which included $ 36.7 million of amortization of deferred financing fees and a $ 12.7 million loss on extinguishment of debt .', 'interest expense , net for the year ended december 31 , 2014 was $ 151.8 million which included $ 32.3 million of amortization of deferred financing fees and $ 15.4 million of expenses related to financing transactions in connection with the acquisition of prestige .', 'certain of our debt agreements contain covenants that , among other things , require us to maintain a minimum level of liquidity , as well as limit our net funded debt-to-capital ratio , maintain certain other ratios and restrict our ability to pay dividends .', 'substantially all of our ships and other property and equipment are pledged as collateral for certain of our debt .', 'we believe we were in compliance with these covenants as of december 31 , 2016 .', 'the following are scheduled principal repayments on long-term debt including capital lease obligations as of december 31 , 2016 for each of the next five years ( in thousands ) : .']

['we had an accrued interest liability of $ 32.5 million and $ 34.2 million as of december 31 , 2016 and 2015 , respectively. .']

======================================== • year, amount • 2017, $ 560193 • 2018, 554846 • 2019, 561687 • 2020, 1153733 • 2021, 2193823 • thereafter, 1490322 • total, $ 6514604 ========================================

subtract(276.9, 221.9), divide(#0, 221.9)

0.24786

what percentage of total contractual obligations as of december 28 , 2013 is made up of long-term debt obligations?

Context: ['contractual obligations the following table summarizes our significant contractual obligations as of december 28 , 2013: .'] ------ Data Table: **************************************** ( in millions ), payments due by period total, payments due by period less than1 year, payments due by period 1 20133 years, payments due by period 3 20135 years, payments due by period more than5 years operating lease obligations, $ 870, $ 208, $ 298, $ 166, $ 198 capital purchase obligations1, 5503, 5375, 125, 2014, 3 other purchase obligations and commitments2, 1859, 772, 744, 307, 36 long-term debt obligations3, 22372, 429, 2360, 3761, 15822 other long-term liabilities4 5, 1496, 569, 663, 144, 120 total6, $ 32100, $ 7353, $ 4190, $ 4378, $ 16179 **************************************** ------ Post-table: ['capital purchase obligations1 5503 5375 125 2014 3 other purchase obligations and commitments2 1859 772 744 307 36 long-term debt obligations3 22372 429 2360 3761 15822 other long-term liabilities4 , 5 1496 569 663 144 120 total6 $ 32100 $ 7353 $ 4190 $ 4378 $ 16179 1 capital purchase obligations represent commitments for the construction or purchase of property , plant and equipment .', 'they were not recorded as liabilities on our consolidated balance sheets as of december 28 , 2013 , as we had not yet received the related goods or taken title to the property .', '2 other purchase obligations and commitments include payments due under various types of licenses and agreements to purchase goods or services , as well as payments due under non-contingent funding obligations .', 'funding obligations include agreements to fund various projects with other companies .', '3 amounts represent principal and interest cash payments over the life of the debt obligations , including anticipated interest payments that are not recorded on our consolidated balance sheets .', 'any future settlement of convertible debt would impact our cash payments .', '4 we are unable to reliably estimate the timing of future payments related to uncertain tax positions ; therefore , $ 188 million of long-term income taxes payable has been excluded from the preceding table .', 'however , long- term income taxes payable , recorded on our consolidated balance sheets , included these uncertain tax positions , reduced by the associated federal deduction for state taxes and u.s .', 'tax credits arising from non- u.s .', 'income taxes .', '5 amounts represent future cash payments to satisfy other long-term liabilities recorded on our consolidated balance sheets , including the short-term portion of these long-term liabilities .', 'expected required contributions to our u.s .', 'and non-u.s .', 'pension plans and other postretirement benefit plans of $ 62 million to be made during 2014 are also included ; however , funding projections beyond 2014 are not practicable to estimate .', '6 total excludes contractual obligations already recorded on our consolidated balance sheets as current liabilities except for the short-term portions of long-term debt obligations and other long-term liabilities .', 'contractual obligations for purchases of goods or services , included in other purchase obligations and commitments in the preceding table , include agreements that are enforceable and legally binding on intel and that specify all significant terms , including fixed or minimum quantities to be purchased ; fixed , minimum , or variable price provisions ; and the approximate timing of the transaction .', 'for obligations with cancellation provisions , the amounts included in the preceding table were limited to the non-cancelable portion of the agreement terms or the minimum cancellation fee .', 'we have entered into certain agreements for the purchase of raw materials that specify minimum prices and quantities based on a percentage of the total available market or based on a percentage of our future purchasing requirements .', 'due to the uncertainty of the future market and our future purchasing requirements , as well as the non-binding nature of these agreements , obligations under these agreements are not included in the preceding table .', 'our purchase orders for other products are based on our current manufacturing needs and are fulfilled by our vendors within short time horizons .', 'in addition , some of our purchase orders represent authorizations to purchase rather than binding agreements .', 'table of contents management 2019s discussion and analysis of financial condition and results of operations ( continued ) .']

0.69695

INTC/2013/page_50.pdf-1

['contractual obligations the following table summarizes our significant contractual obligations as of december 28 , 2013: .']

['capital purchase obligations1 5503 5375 125 2014 3 other purchase obligations and commitments2 1859 772 744 307 36 long-term debt obligations3 22372 429 2360 3761 15822 other long-term liabilities4 , 5 1496 569 663 144 120 total6 $ 32100 $ 7353 $ 4190 $ 4378 $ 16179 1 capital purchase obligations represent commitments for the construction or purchase of property , plant and equipment .', 'they were not recorded as liabilities on our consolidated balance sheets as of december 28 , 2013 , as we had not yet received the related goods or taken title to the property .', '2 other purchase obligations and commitments include payments due under various types of licenses and agreements to purchase goods or services , as well as payments due under non-contingent funding obligations .', 'funding obligations include agreements to fund various projects with other companies .', '3 amounts represent principal and interest cash payments over the life of the debt obligations , including anticipated interest payments that are not recorded on our consolidated balance sheets .', 'any future settlement of convertible debt would impact our cash payments .', '4 we are unable to reliably estimate the timing of future payments related to uncertain tax positions ; therefore , $ 188 million of long-term income taxes payable has been excluded from the preceding table .', 'however , long- term income taxes payable , recorded on our consolidated balance sheets , included these uncertain tax positions , reduced by the associated federal deduction for state taxes and u.s .', 'tax credits arising from non- u.s .', 'income taxes .', '5 amounts represent future cash payments to satisfy other long-term liabilities recorded on our consolidated balance sheets , including the short-term portion of these long-term liabilities .', 'expected required contributions to our u.s .', 'and non-u.s .', 'pension plans and other postretirement benefit plans of $ 62 million to be made during 2014 are also included ; however , funding projections beyond 2014 are not practicable to estimate .', '6 total excludes contractual obligations already recorded on our consolidated balance sheets as current liabilities except for the short-term portions of long-term debt obligations and other long-term liabilities .', 'contractual obligations for purchases of goods or services , included in other purchase obligations and commitments in the preceding table , include agreements that are enforceable and legally binding on intel and that specify all significant terms , including fixed or minimum quantities to be purchased ; fixed , minimum , or variable price provisions ; and the approximate timing of the transaction .', 'for obligations with cancellation provisions , the amounts included in the preceding table were limited to the non-cancelable portion of the agreement terms or the minimum cancellation fee .', 'we have entered into certain agreements for the purchase of raw materials that specify minimum prices and quantities based on a percentage of the total available market or based on a percentage of our future purchasing requirements .', 'due to the uncertainty of the future market and our future purchasing requirements , as well as the non-binding nature of these agreements , obligations under these agreements are not included in the preceding table .', 'our purchase orders for other products are based on our current manufacturing needs and are fulfilled by our vendors within short time horizons .', 'in addition , some of our purchase orders represent authorizations to purchase rather than binding agreements .', 'table of contents management 2019s discussion and analysis of financial condition and results of operations ( continued ) .']

**************************************** ( in millions ), payments due by period total, payments due by period less than1 year, payments due by period 1 20133 years, payments due by period 3 20135 years, payments due by period more than5 years operating lease obligations, $ 870, $ 208, $ 298, $ 166, $ 198 capital purchase obligations1, 5503, 5375, 125, 2014, 3 other purchase obligations and commitments2, 1859, 772, 744, 307, 36 long-term debt obligations3, 22372, 429, 2360, 3761, 15822 other long-term liabilities4 5, 1496, 569, 663, 144, 120 total6, $ 32100, $ 7353, $ 4190, $ 4378, $ 16179 ****************************************

divide(22372, 32100)

0.69695

what percentage of major facilities by square footage are owned as of december 28 , 2013?

Context: ['item 1b .', 'unresolved staff comments not applicable .', 'item 2 .', 'properties as of december 28 , 2013 , our major facilities consisted of : ( square feet in millions ) united states countries total owned facilities1 29.9 16.7 46.6 leased facilities2 2.3 6.0 8.3 .'] ---- Tabular Data: ======================================== ( square feet in millions ) | unitedstates | othercountries | total owned facilities1 | 29.9 | 16.7 | 46.6 leased facilities2 | 2.3 | 6.0 | 8.3 total facilities | 32.2 | 22.7 | 54.9 ======================================== ---- Additional Information: ['1 leases on portions of the land used for these facilities expire on varying dates through 2062 .', '2 leases expire on varying dates through 2028 and generally include renewals at our option .', 'our principal executive offices are located in the u.s .', 'and a significant amount of our wafer fabrication activities are also located in the u.s .', 'in addition to our current facilities , we are building a development fabrication facility in oregon which began r&d start-up in 2013 .', 'we expect that this new facility will allow us to widen our process technology lead .', 'we also completed construction of a large-scale fabrication building in arizona in 2013 , which is currently not in use and is not being depreciated .', 'we recently announced that we plan to delay equipment installation in this building and leverage existing fabrication facilities , reserving this new facility for additional capacity and future technologies .', 'outside the u.s. , we have wafer fabrication facilities in israel , china , and ireland .', 'our fabrication facility in ireland is currently transitioning to a newer process technology node , with manufacturing expected to recommence in 2015 .', 'our assembly and test facilities are located in malaysia , china , costa rica , and vietnam .', 'in addition , we have sales and marketing offices worldwide that are generally located near major concentrations of customers .', 'we believe that the facilities described above are suitable and adequate for our present purposes and that the productive capacity in our facilities is substantially being utilized or we have plans to utilize it .', 'we do not identify or allocate assets by operating segment .', 'for information on net property , plant and equipment by country , see 201cnote 27 : operating segments and geographic information 201d in part ii , item 8 of this form 10-k .', 'item 3 .', 'legal proceedings for a discussion of legal proceedings , see 201cnote 26 : contingencies 201d in part ii , item 8 of this form 10-k .', 'item 4 .', 'mine safety disclosures not applicable .', 'table of contents .']

0.84882

INTC/2013/page_29.pdf-1

['item 1b .', 'unresolved staff comments not applicable .', 'item 2 .', 'properties as of december 28 , 2013 , our major facilities consisted of : ( square feet in millions ) united states countries total owned facilities1 29.9 16.7 46.6 leased facilities2 2.3 6.0 8.3 .']

['1 leases on portions of the land used for these facilities expire on varying dates through 2062 .', '2 leases expire on varying dates through 2028 and generally include renewals at our option .', 'our principal executive offices are located in the u.s .', 'and a significant amount of our wafer fabrication activities are also located in the u.s .', 'in addition to our current facilities , we are building a development fabrication facility in oregon which began r&d start-up in 2013 .', 'we expect that this new facility will allow us to widen our process technology lead .', 'we also completed construction of a large-scale fabrication building in arizona in 2013 , which is currently not in use and is not being depreciated .', 'we recently announced that we plan to delay equipment installation in this building and leverage existing fabrication facilities , reserving this new facility for additional capacity and future technologies .', 'outside the u.s. , we have wafer fabrication facilities in israel , china , and ireland .', 'our fabrication facility in ireland is currently transitioning to a newer process technology node , with manufacturing expected to recommence in 2015 .', 'our assembly and test facilities are located in malaysia , china , costa rica , and vietnam .', 'in addition , we have sales and marketing offices worldwide that are generally located near major concentrations of customers .', 'we believe that the facilities described above are suitable and adequate for our present purposes and that the productive capacity in our facilities is substantially being utilized or we have plans to utilize it .', 'we do not identify or allocate assets by operating segment .', 'for information on net property , plant and equipment by country , see 201cnote 27 : operating segments and geographic information 201d in part ii , item 8 of this form 10-k .', 'item 3 .', 'legal proceedings for a discussion of legal proceedings , see 201cnote 26 : contingencies 201d in part ii , item 8 of this form 10-k .', 'item 4 .', 'mine safety disclosures not applicable .', 'table of contents .']

======================================== ( square feet in millions ) | unitedstates | othercountries | total owned facilities1 | 29.9 | 16.7 | 46.6 leased facilities2 | 2.3 | 6.0 | 8.3 total facilities | 32.2 | 22.7 | 54.9 ========================================

divide(46.6, 54.9)

0.84882

in 2015 what was the percent of the credit card as part of the total provision for credit losses

Pre-text: ['jpmorgan chase & co./2015 annual report 73 in advisory fees was driven by the combined impact of a greater share of fees for completed transactions , and growth in industry-wide fees .', 'the increase in equity underwriting fees was driven by higher industry-wide issuance .', 'the decrease in debt underwriting fees was primarily related to lower bond underwriting fees compared with the prior year , and lower loan syndication fees on lower industry-wide fees .', 'principal transactions revenue increased as the prior year included a $ 1.5 billion loss related to the implementation of the funding valuation adjustment ( 201cfva 201d ) framework for over-the-counter ( 201cotc 201d ) derivatives and structured notes .', 'private equity gains increased as a result of higher net gains on sales .', 'these increases were partially offset by lower fixed income markets revenue in cib , primarily driven by credit-related and rates products , as well as the impact of business simplification initiatives .', 'lending- and deposit-related fees decreased compared with the prior year , reflecting the impact of business simplification initiatives and lower trade finance revenue in cib .', 'asset management , administration and commissions revenue increased compared with the prior year , reflecting higher asset management fees driven by net client inflows and higher market levels in am and ccb .', 'the increase was offset partially by lower commissions and other fee revenue in ccb as a result of the exit of a non-core product in 2013 .', 'securities gains decreased compared with the prior year , reflecting lower repositioning activity related to the firm 2019s investment securities portfolio .', 'mortgage fees and related income decreased compared with the prior year , predominantly due to lower net production revenue driven by lower volumes due to higher mortgage interest rates , and tighter margins .', 'the decline in net production revenue was partially offset by a lower loss on the risk management of mortgage servicing rights ( 201cmsrs 201d ) .', 'card income was relatively flat compared with the prior year , but included higher net interchange income due to growth in credit and debit card sales volume , offset by higher amortization of new account origination costs .', 'other income decreased from the prior year , predominantly from the absence of two significant items recorded in corporate in 2013 : gains of $ 1.3 billion and $ 493 million from sales of visa shares and one chase manhattan plaza , respectively .', 'lower valuations of seed capital investments in am and losses related to the exit of non-core portfolios in card also contributed to the decrease .', 'these items were partially offset by higher auto lease income as a result of growth in auto lease volume , and a benefit from a tax settlement .', 'net interest income increased slightly from the prior year , predominantly reflecting higher yields on investment securities , the impact of lower interest expense from lower rates , and higher average loan balances .', 'the increase was partially offset by lower yields on loans due to the run-off of higher-yielding loans and new originations of lower-yielding loans , and lower average interest-earning trading asset balances .', 'the firm 2019s average interest-earning assets were $ 2.0 trillion , and the net interest yield on these assets , on a fte basis , was 2.18% ( 2.18 % ) , a decrease of 5 basis points from the prior year .', 'provision for credit losses year ended december 31 .'] -- Data Table: ( in millions ), 2015, 2014, 2013 consumer excluding credit card, $ -81 ( 81 ), $ 419, $ -1871 ( 1871 ) credit card, 3122, 3079, 2179 total consumer, 3041, 3498, 308 wholesale, 786, -359 ( 359 ), -83 ( 83 ) total provision for credit losses, $ 3827, $ 3139, $ 225 -- Follow-up: ['2015 compared with 2014 the provision for credit losses increased from the prior year as a result of an increase in the wholesale provision , largely reflecting the impact of downgrades in the oil & gas portfolio .', 'the increase was partially offset by a decrease in the consumer provision , reflecting lower net charge-offs due to continued discipline in credit underwriting , as well as improvement in the economy driven by increasing home prices and lower unemployment levels .', 'the increase was partially offset by a lower reduction in the allowance for loan losses .', 'for a more detailed discussion of the credit portfolio and the allowance for credit losses , see the segment discussions of ccb on pages 85 201393 , cb on pages 99 2013101 , and the allowance for credit losses on pages 130 2013132 .', '2014 compared with 2013 the provision for credit losses increased by $ 2.9 billion from the prior year as result of a lower benefit from reductions in the consumer allowance for loan losses , partially offset by lower net charge-offs .', 'the consumer allowance reduction in 2014 was primarily related to the consumer , excluding credit card , portfolio and reflected the continued improvement in home prices and delinquencies in the residential real estate portfolio .', 'the wholesale provision reflected a continued favorable credit environment. .']

0.81578

JPM/2015/page_83.pdf-2

['jpmorgan chase & co./2015 annual report 73 in advisory fees was driven by the combined impact of a greater share of fees for completed transactions , and growth in industry-wide fees .', 'the increase in equity underwriting fees was driven by higher industry-wide issuance .', 'the decrease in debt underwriting fees was primarily related to lower bond underwriting fees compared with the prior year , and lower loan syndication fees on lower industry-wide fees .', 'principal transactions revenue increased as the prior year included a $ 1.5 billion loss related to the implementation of the funding valuation adjustment ( 201cfva 201d ) framework for over-the-counter ( 201cotc 201d ) derivatives and structured notes .', 'private equity gains increased as a result of higher net gains on sales .', 'these increases were partially offset by lower fixed income markets revenue in cib , primarily driven by credit-related and rates products , as well as the impact of business simplification initiatives .', 'lending- and deposit-related fees decreased compared with the prior year , reflecting the impact of business simplification initiatives and lower trade finance revenue in cib .', 'asset management , administration and commissions revenue increased compared with the prior year , reflecting higher asset management fees driven by net client inflows and higher market levels in am and ccb .', 'the increase was offset partially by lower commissions and other fee revenue in ccb as a result of the exit of a non-core product in 2013 .', 'securities gains decreased compared with the prior year , reflecting lower repositioning activity related to the firm 2019s investment securities portfolio .', 'mortgage fees and related income decreased compared with the prior year , predominantly due to lower net production revenue driven by lower volumes due to higher mortgage interest rates , and tighter margins .', 'the decline in net production revenue was partially offset by a lower loss on the risk management of mortgage servicing rights ( 201cmsrs 201d ) .', 'card income was relatively flat compared with the prior year , but included higher net interchange income due to growth in credit and debit card sales volume , offset by higher amortization of new account origination costs .', 'other income decreased from the prior year , predominantly from the absence of two significant items recorded in corporate in 2013 : gains of $ 1.3 billion and $ 493 million from sales of visa shares and one chase manhattan plaza , respectively .', 'lower valuations of seed capital investments in am and losses related to the exit of non-core portfolios in card also contributed to the decrease .', 'these items were partially offset by higher auto lease income as a result of growth in auto lease volume , and a benefit from a tax settlement .', 'net interest income increased slightly from the prior year , predominantly reflecting higher yields on investment securities , the impact of lower interest expense from lower rates , and higher average loan balances .', 'the increase was partially offset by lower yields on loans due to the run-off of higher-yielding loans and new originations of lower-yielding loans , and lower average interest-earning trading asset balances .', 'the firm 2019s average interest-earning assets were $ 2.0 trillion , and the net interest yield on these assets , on a fte basis , was 2.18% ( 2.18 % ) , a decrease of 5 basis points from the prior year .', 'provision for credit losses year ended december 31 .']

['2015 compared with 2014 the provision for credit losses increased from the prior year as a result of an increase in the wholesale provision , largely reflecting the impact of downgrades in the oil & gas portfolio .', 'the increase was partially offset by a decrease in the consumer provision , reflecting lower net charge-offs due to continued discipline in credit underwriting , as well as improvement in the economy driven by increasing home prices and lower unemployment levels .', 'the increase was partially offset by a lower reduction in the allowance for loan losses .', 'for a more detailed discussion of the credit portfolio and the allowance for credit losses , see the segment discussions of ccb on pages 85 201393 , cb on pages 99 2013101 , and the allowance for credit losses on pages 130 2013132 .', '2014 compared with 2013 the provision for credit losses increased by $ 2.9 billion from the prior year as result of a lower benefit from reductions in the consumer allowance for loan losses , partially offset by lower net charge-offs .', 'the consumer allowance reduction in 2014 was primarily related to the consumer , excluding credit card , portfolio and reflected the continued improvement in home prices and delinquencies in the residential real estate portfolio .', 'the wholesale provision reflected a continued favorable credit environment. .']

( in millions ), 2015, 2014, 2013 consumer excluding credit card, $ -81 ( 81 ), $ 419, $ -1871 ( 1871 ) credit card, 3122, 3079, 2179 total consumer, 3041, 3498, 308 wholesale, 786, -359 ( 359 ), -83 ( 83 ) total provision for credit losses, $ 3827, $ 3139, $ 225

divide(3122, 3827)

0.81578

what was the ratio of the amortization expense for other intangible assets from to 20192018

Pre-text: ['humana inc .', 'notes to consolidated financial statements 2014 ( continued ) amortization expense for other intangible assets was approximately $ 75 million in 2017 , $ 77 million in 2016 , and $ 93 million in 2015 .', 'the following table presents our estimate of amortization expense for each of the five next succeeding fiscal years: .'] Data Table: ======================================== , ( in millions ) for the years ending december 31,, 2018, $ 64 2019, 54 2020, 52 2021, 19 2022, 16 ======================================== Follow-up: ['.']

1.18519

HUM/2017/page_118.pdf-2

['humana inc .', 'notes to consolidated financial statements 2014 ( continued ) amortization expense for other intangible assets was approximately $ 75 million in 2017 , $ 77 million in 2016 , and $ 93 million in 2015 .', 'the following table presents our estimate of amortization expense for each of the five next succeeding fiscal years: .']

['.']

======================================== , ( in millions ) for the years ending december 31,, 2018, $ 64 2019, 54 2020, 52 2021, 19 2022, 16 ========================================

divide(64, 54)

1.18519

for the quarter ended march 312015 what was the percentage change in the share price from the highest to the lowest

Background: ['part ii item 5 .', 'market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities the following table presents reported quarterly high and low per share sale prices of our common stock on the nyse for the years 2016 and 2015. .'] #### Tabular Data: ---------------------------------------- 2016, high, low quarter ended march 31, $ 102.93, $ 83.07 quarter ended june 30, 113.63, 101.87 quarter ended september 30, 118.26, 107.57 quarter ended december 31, 118.09, 99.72 2015, high, low quarter ended march 31, $ 101.88, $ 93.21 quarter ended june 30, 98.64, 91.99 quarter ended september 30, 101.54, 86.83 quarter ended december 31, 104.12, 87.23 ---------------------------------------- #### Post-table: ['on february 17 , 2017 , the closing price of our common stock was $ 108.11 per share as reported on the nyse .', 'as of february 17 , 2017 , we had 427195037 outstanding shares of common stock and 153 registered holders .', 'dividends as a reit , we must annually distribute to our stockholders an amount equal to at least 90% ( 90 % ) of our reit taxable income ( determined before the deduction for distributed earnings and excluding any net capital gain ) .', 'generally , we have distributed and expect to continue to distribute all or substantially all of our reit taxable income after taking into consideration our utilization of net operating losses ( 201cnols 201d ) .', 'we have two series of preferred stock outstanding , 5.25% ( 5.25 % ) mandatory convertible preferred stock , series a ( the 201cseries a preferred stock 201d ) , issued in may 2014 , with a dividend rate of 5.25% ( 5.25 % ) , and the 5.50% ( 5.50 % ) mandatory convertible preferred stock , series b ( the 201cseries b preferred stock 201d ) , issued in march 2015 , with a dividend rate of 5.50% ( 5.50 % ) .', 'dividends are payable quarterly in arrears , subject to declaration by our board of directors .', 'the amount , timing and frequency of future distributions will be at the sole discretion of our board of directors and will depend upon various factors , a number of which may be beyond our control , including our financial condition and operating cash flows , the amount required to maintain our qualification for taxation as a reit and reduce any income and excise taxes that we otherwise would be required to pay , limitations on distributions in our existing and future debt and preferred equity instruments , our ability to utilize nols to offset our distribution requirements , limitations on our ability to fund distributions using cash generated through our trss and other factors that our board of directors may deem relevant .', 'we have distributed an aggregate of approximately $ 3.2 billion to our common stockholders , including the dividend paid in january 2017 , primarily subject to taxation as ordinary income. .']

0.09302

AMT/2016/page_49.pdf-1

['part ii item 5 .', 'market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities the following table presents reported quarterly high and low per share sale prices of our common stock on the nyse for the years 2016 and 2015. .']

['on february 17 , 2017 , the closing price of our common stock was $ 108.11 per share as reported on the nyse .', 'as of february 17 , 2017 , we had 427195037 outstanding shares of common stock and 153 registered holders .', 'dividends as a reit , we must annually distribute to our stockholders an amount equal to at least 90% ( 90 % ) of our reit taxable income ( determined before the deduction for distributed earnings and excluding any net capital gain ) .', 'generally , we have distributed and expect to continue to distribute all or substantially all of our reit taxable income after taking into consideration our utilization of net operating losses ( 201cnols 201d ) .', 'we have two series of preferred stock outstanding , 5.25% ( 5.25 % ) mandatory convertible preferred stock , series a ( the 201cseries a preferred stock 201d ) , issued in may 2014 , with a dividend rate of 5.25% ( 5.25 % ) , and the 5.50% ( 5.50 % ) mandatory convertible preferred stock , series b ( the 201cseries b preferred stock 201d ) , issued in march 2015 , with a dividend rate of 5.50% ( 5.50 % ) .', 'dividends are payable quarterly in arrears , subject to declaration by our board of directors .', 'the amount , timing and frequency of future distributions will be at the sole discretion of our board of directors and will depend upon various factors , a number of which may be beyond our control , including our financial condition and operating cash flows , the amount required to maintain our qualification for taxation as a reit and reduce any income and excise taxes that we otherwise would be required to pay , limitations on distributions in our existing and future debt and preferred equity instruments , our ability to utilize nols to offset our distribution requirements , limitations on our ability to fund distributions using cash generated through our trss and other factors that our board of directors may deem relevant .', 'we have distributed an aggregate of approximately $ 3.2 billion to our common stockholders , including the dividend paid in january 2017 , primarily subject to taxation as ordinary income. .']

---------------------------------------- 2016, high, low quarter ended march 31, $ 102.93, $ 83.07 quarter ended june 30, 113.63, 101.87 quarter ended september 30, 118.26, 107.57 quarter ended december 31, 118.09, 99.72 2015, high, low quarter ended march 31, $ 101.88, $ 93.21 quarter ended june 30, 98.64, 91.99 quarter ended september 30, 101.54, 86.83 quarter ended december 31, 104.12, 87.23 ----------------------------------------

subtract(101.88, 93.21), divide(#0, 93.21)

0.09302

what percentage of notional contract amount of total gross derivatives at december 31 , 2014 was from derivatives not designated as hedging instruments under gaap?

Pre-text: ['note 15 financial derivatives we use derivative financial instruments ( derivatives ) primarily to help manage exposure to interest rate , market and credit risk and reduce the effects that changes in interest rates may have on net income , the fair value of assets and liabilities , and cash flows .', 'we also enter into derivatives with customers to facilitate their risk management activities .', 'derivatives represent contracts between parties that usually require little or no initial net investment and result in one party delivering cash or another type of asset to the other party based on a notional amount and an underlying as specified in the contract .', 'derivative transactions are often measured in terms of notional amount , but this amount is generally not exchanged and it is not recorded on the balance sheet .', 'the notional amount is the basis to which the underlying is applied to determine required payments under the derivative contract .', 'the underlying is a referenced interest rate ( commonly libor ) , security price , credit spread or other index .', 'residential and commercial real estate loan commitments associated with loans to be sold also qualify as derivative instruments .', 'the following table presents the notional amounts and gross fair values of all derivative assets and liabilities held by pnc : table 124 : total gross derivatives .'] -- Data Table: **************************************** in millions december 31 2014 notional/contractamount december 31 2014 assetfairvalue ( a ) december 31 2014 liabilityfairvalue ( b ) december 31 2014 notional/contractamount december 31 2014 assetfairvalue ( a ) liabilityfairvalue ( b ) derivatives designated as hedging instruments under gaap $ 49061 $ 1261 $ 186 $ 36197 $ 1189 $ 364 derivatives not designated as hedging instruments under gaap 291256 3973 3841 345059 3604 3570 total gross derivatives $ 340317 $ 5234 $ 4027 $ 381256 $ 4793 $ 3934 **************************************** -- Additional Information: ['( a ) included in other assets on our consolidated balance sheet .', '( b ) included in other liabilities on our consolidated balance sheet .', 'all derivatives are carried on our consolidated balance sheet at fair value .', 'derivative balances are presented on the consolidated balance sheet on a net basis taking into consideration the effects of legally enforceable master netting agreements and any related cash collateral exchanged with counterparties .', 'further discussion regarding the rights of setoff associated with these legally enforceable master netting agreements is included in the offsetting , counterparty credit risk , and contingent features section below .', 'our exposure related to risk participations where we sold protection is discussed in the credit derivatives section below .', 'any nonperformance risk , including credit risk , is included in the determination of the estimated net fair value of the derivatives .', 'further discussion on how derivatives are accounted for is included in note 1 accounting policies .', 'derivatives designated as hedging instruments under gaap certain derivatives used to manage interest rate and foreign exchange risk as part of our asset and liability risk management activities are designated as accounting hedges under gaap .', 'derivatives hedging the risks associated with changes in the fair value of assets or liabilities are considered fair value hedges , derivatives hedging the variability of expected future cash flows are considered cash flow hedges , and derivatives hedging a net investment in a foreign subsidiary are considered net investment hedges .', 'designating derivatives as accounting hedges allows for gains and losses on those derivatives , to the extent effective , to be recognized in the income statement in the same period the hedged items affect earnings .', 'the pnc financial services group , inc .', '2013 form 10-k 187 .']

0.85584

PNC/2014/page_205.pdf-1

['note 15 financial derivatives we use derivative financial instruments ( derivatives ) primarily to help manage exposure to interest rate , market and credit risk and reduce the effects that changes in interest rates may have on net income , the fair value of assets and liabilities , and cash flows .', 'we also enter into derivatives with customers to facilitate their risk management activities .', 'derivatives represent contracts between parties that usually require little or no initial net investment and result in one party delivering cash or another type of asset to the other party based on a notional amount and an underlying as specified in the contract .', 'derivative transactions are often measured in terms of notional amount , but this amount is generally not exchanged and it is not recorded on the balance sheet .', 'the notional amount is the basis to which the underlying is applied to determine required payments under the derivative contract .', 'the underlying is a referenced interest rate ( commonly libor ) , security price , credit spread or other index .', 'residential and commercial real estate loan commitments associated with loans to be sold also qualify as derivative instruments .', 'the following table presents the notional amounts and gross fair values of all derivative assets and liabilities held by pnc : table 124 : total gross derivatives .']

['( a ) included in other assets on our consolidated balance sheet .', '( b ) included in other liabilities on our consolidated balance sheet .', 'all derivatives are carried on our consolidated balance sheet at fair value .', 'derivative balances are presented on the consolidated balance sheet on a net basis taking into consideration the effects of legally enforceable master netting agreements and any related cash collateral exchanged with counterparties .', 'further discussion regarding the rights of setoff associated with these legally enforceable master netting agreements is included in the offsetting , counterparty credit risk , and contingent features section below .', 'our exposure related to risk participations where we sold protection is discussed in the credit derivatives section below .', 'any nonperformance risk , including credit risk , is included in the determination of the estimated net fair value of the derivatives .', 'further discussion on how derivatives are accounted for is included in note 1 accounting policies .', 'derivatives designated as hedging instruments under gaap certain derivatives used to manage interest rate and foreign exchange risk as part of our asset and liability risk management activities are designated as accounting hedges under gaap .', 'derivatives hedging the risks associated with changes in the fair value of assets or liabilities are considered fair value hedges , derivatives hedging the variability of expected future cash flows are considered cash flow hedges , and derivatives hedging a net investment in a foreign subsidiary are considered net investment hedges .', 'designating derivatives as accounting hedges allows for gains and losses on those derivatives , to the extent effective , to be recognized in the income statement in the same period the hedged items affect earnings .', 'the pnc financial services group , inc .', '2013 form 10-k 187 .']

**************************************** in millions december 31 2014 notional/contractamount december 31 2014 assetfairvalue ( a ) december 31 2014 liabilityfairvalue ( b ) december 31 2014 notional/contractamount december 31 2014 assetfairvalue ( a ) liabilityfairvalue ( b ) derivatives designated as hedging instruments under gaap $ 49061 $ 1261 $ 186 $ 36197 $ 1189 $ 364 derivatives not designated as hedging instruments under gaap 291256 3973 3841 345059 3604 3570 total gross derivatives $ 340317 $ 5234 $ 4027 $ 381256 $ 4793 $ 3934 ****************************************

divide(291256, 340317)

0.85584

what are the total sales reported in 2012 , ( in billion ) ?

Pre-text: ['backlog applied manufactures systems to meet demand represented by order backlog and customer commitments .', 'backlog consists of : ( 1 ) orders for which written authorizations have been accepted and assigned shipment dates are within the next 12 months , or shipment has occurred but revenue has not been recognized ; and ( 2 ) contractual service revenue and maintenance fees to be earned within the next 12 months .', 'backlog by reportable segment as of october 26 , 2014 and october 27 , 2013 was as follows : 2014 2013 ( in millions , except percentages ) .'] ###### Table: ======================================== 2014 2013 ( in millions except percentages ) silicon systems group $ 1400 48% ( 48 % ) $ 1295 55% ( 55 % ) applied global services 775 27% ( 27 % ) 591 25% ( 25 % ) display 593 20% ( 20 % ) 361 15% ( 15 % ) energy and environmental solutions 149 5% ( 5 % ) 125 5% ( 5 % ) total $ 2917 100% ( 100 % ) $ 2372 100% ( 100 % ) ======================================== ###### Additional Information: ['applied 2019s backlog on any particular date is not necessarily indicative of actual sales for any future periods , due to the potential for customer changes in delivery schedules or cancellation of orders .', 'customers may delay delivery of products or cancel orders prior to shipment , subject to possible cancellation penalties .', 'delays in delivery schedules and/or a reduction of backlog during any particular period could have a material adverse effect on applied 2019s business and results of operations .', 'manufacturing , raw materials and supplies applied 2019s manufacturing activities consist primarily of assembly , test and integration of various proprietary and commercial parts , components and subassemblies ( collectively , parts ) that are used to manufacture systems .', 'applied has implemented a distributed manufacturing model under which manufacturing and supply chain activities are conducted in various countries , including the united states , europe , israel , singapore , taiwan , and other countries in asia , and assembly of some systems is completed at customer sites .', 'applied uses numerous vendors , including contract manufacturers , to supply parts and assembly services for the manufacture and support of its products .', 'although applied makes reasonable efforts to assure that parts are available from multiple qualified suppliers , this is not always possible .', 'accordingly , some key parts may be obtained from only a single supplier or a limited group of suppliers .', 'applied seeks to reduce costs and to lower the risks of manufacturing and service interruptions by : ( 1 ) selecting and qualifying alternate suppliers for key parts ; ( 2 ) monitoring the financial condition of key suppliers ; ( 3 ) maintaining appropriate inventories of key parts ; ( 4 ) qualifying new parts on a timely basis ; and ( 5 ) locating certain manufacturing operations in close proximity to suppliers and customers .', 'research , development and engineering applied 2019s long-term growth strategy requires continued development of new products , including products that enable expansion into new markets .', 'the company 2019s significant investment in research , development and engineering ( rd&e ) has generally enabled it to deliver new products and technologies before the emergence of strong demand , thus allowing customers to incorporate these products into their manufacturing plans at an early stage in the technology selection cycle .', 'applied works closely with its global customers to design systems and processes that meet their planned technical and production requirements .', 'product development and engineering organizations are located primarily in the united states , as well as in europe , israel , taiwan , and china .', 'in addition , applied outsources certain rd&e activities , some of which are performed outside the united states , primarily in india and singapore .', 'process support and customer demonstration laboratories are located in the united states , china , taiwan , europe , and israel .', 'applied 2019s investments in rd&e for product development and engineering programs to create or improve products and technologies over the last three years were as follows : $ 1.4 billion ( 16 percent of net sales ) in fiscal 2014 , $ 1.3 billion ( 18 percent of net sales ) in fiscal 2013 , and $ 1.2 billion ( 14 percent of net sales ) in fiscal 2012 .', 'applied has spent an average of 13 percent of net sales in rd&e over the last five years .', 'in addition to rd&e for specific product technologies , applied maintains ongoing programs for automation control systems , materials research , and environmental control that are applicable to its products. .']

0.08571

AMAT/2014/page_18.pdf-2

['backlog applied manufactures systems to meet demand represented by order backlog and customer commitments .', 'backlog consists of : ( 1 ) orders for which written authorizations have been accepted and assigned shipment dates are within the next 12 months , or shipment has occurred but revenue has not been recognized ; and ( 2 ) contractual service revenue and maintenance fees to be earned within the next 12 months .', 'backlog by reportable segment as of october 26 , 2014 and october 27 , 2013 was as follows : 2014 2013 ( in millions , except percentages ) .']

['applied 2019s backlog on any particular date is not necessarily indicative of actual sales for any future periods , due to the potential for customer changes in delivery schedules or cancellation of orders .', 'customers may delay delivery of products or cancel orders prior to shipment , subject to possible cancellation penalties .', 'delays in delivery schedules and/or a reduction of backlog during any particular period could have a material adverse effect on applied 2019s business and results of operations .', 'manufacturing , raw materials and supplies applied 2019s manufacturing activities consist primarily of assembly , test and integration of various proprietary and commercial parts , components and subassemblies ( collectively , parts ) that are used to manufacture systems .', 'applied has implemented a distributed manufacturing model under which manufacturing and supply chain activities are conducted in various countries , including the united states , europe , israel , singapore , taiwan , and other countries in asia , and assembly of some systems is completed at customer sites .', 'applied uses numerous vendors , including contract manufacturers , to supply parts and assembly services for the manufacture and support of its products .', 'although applied makes reasonable efforts to assure that parts are available from multiple qualified suppliers , this is not always possible .', 'accordingly , some key parts may be obtained from only a single supplier or a limited group of suppliers .', 'applied seeks to reduce costs and to lower the risks of manufacturing and service interruptions by : ( 1 ) selecting and qualifying alternate suppliers for key parts ; ( 2 ) monitoring the financial condition of key suppliers ; ( 3 ) maintaining appropriate inventories of key parts ; ( 4 ) qualifying new parts on a timely basis ; and ( 5 ) locating certain manufacturing operations in close proximity to suppliers and customers .', 'research , development and engineering applied 2019s long-term growth strategy requires continued development of new products , including products that enable expansion into new markets .', 'the company 2019s significant investment in research , development and engineering ( rd&e ) has generally enabled it to deliver new products and technologies before the emergence of strong demand , thus allowing customers to incorporate these products into their manufacturing plans at an early stage in the technology selection cycle .', 'applied works closely with its global customers to design systems and processes that meet their planned technical and production requirements .', 'product development and engineering organizations are located primarily in the united states , as well as in europe , israel , taiwan , and china .', 'in addition , applied outsources certain rd&e activities , some of which are performed outside the united states , primarily in india and singapore .', 'process support and customer demonstration laboratories are located in the united states , china , taiwan , europe , and israel .', 'applied 2019s investments in rd&e for product development and engineering programs to create or improve products and technologies over the last three years were as follows : $ 1.4 billion ( 16 percent of net sales ) in fiscal 2014 , $ 1.3 billion ( 18 percent of net sales ) in fiscal 2013 , and $ 1.2 billion ( 14 percent of net sales ) in fiscal 2012 .', 'applied has spent an average of 13 percent of net sales in rd&e over the last five years .', 'in addition to rd&e for specific product technologies , applied maintains ongoing programs for automation control systems , materials research , and environmental control that are applicable to its products. .']

======================================== 2014 2013 ( in millions except percentages ) silicon systems group $ 1400 48% ( 48 % ) $ 1295 55% ( 55 % ) applied global services 775 27% ( 27 % ) 591 25% ( 25 % ) display 593 20% ( 20 % ) 361 15% ( 15 % ) energy and environmental solutions 149 5% ( 5 % ) 125 5% ( 5 % ) total $ 2917 100% ( 100 % ) $ 2372 100% ( 100 % ) ========================================

divide(1.2, 14)

0.08571

what percentage of the total restructuring charges during the year ended september 27 , 2003 were severance costs?

Background: ['61 of 93 is not necessarily indicative of the results of future operations that would have been achieved had the acquisitions taken place at the beginning of 2001 .', 'pro forma information follows ( in millions , except per share amounts ) : .'] -- Data Table: | 2001 net sales | $ 5370 net loss | $ -44 ( 44 ) basic loss per common share | $ -0.13 ( 0.13 ) diluted loss per common share | $ -0.13 ( 0.13 ) -- Additional Information: ['note 5 -- restructuring charges fiscal 2003 restructuring actions the company recorded total restructuring charges of approximately $ 26.8 million during the year ended september 27 , 2003 , including approximately $ 7.4 million in severance costs , a $ 5.0 million charge to write-off deferred compensation , $ 7.1 million in asset impairments and a $ 7.3 million charge for lease cancellations .', 'of the $ 26.8 million , nearly all had been spent by the end of 2003 , except for approximately $ 400000 of severance costs and approximately $ 4.5 million related to operating lease costs on abandoned facilities .', 'during the third quarter of 2003 , approximately $ 500000 of the amount originally accrued for lease cancellations was determined to be in excess due to the sublease of a property sooner than originally estimated and an approximately $ 500000 shortfall was identified in the severance accrual due to higher than expected severance costs related to the closure of the company 2019s singapore manufacturing operations .', 'these adjustments had no net effect on reported operating expense .', 'during the second quarter of 2003 , the company 2019s management approved and initiated restructuring actions that resulted in recognition of a total restructuring charge of $ 2.8 million , including $ 2.4 million in severance costs and $ 400000 for asset write-offs and lease payments on an abandoned facility .', 'actions taken in the second quarter were for the most part supplemental to actions initiated in the prior two quarters and focused on further headcount reductions in various sales and marketing functions in the company 2019s americas and europe operating segments and further reductions associated with powerschool-related activities in the americas operating segment , including an accrual for asset write-offs and lease payments on an abandoned facility .', 'the second quarter actions resulted in the termination of 93 employees , 92 were terminated prior to the end of 2003 .', 'during the first quarter of 2003 , the company 2019s management approved and initiated restructuring actions with a total cost of $ 24 million that resulted in the termination of manufacturing operations at the company-owned facility in singapore , further reductions in headcount resulting from the shift in powerschool product strategy that took place at the end of fiscal 2002 , and termination of various sales and marketing activities in the united states and europe .', 'these restructuring actions will ultimately result in the elimination of 260 positions worldwide , all but one of which were eliminated by the end of 2003 .', 'closure of the company 2019s singapore manufacturing operations resulted in severance costs of $ 1.8 million and costs of $ 6.7 million to write-off manufacturing related fixed assets , whose use ceased during the first quarter .', 'powerschool related costs included severance of approximately $ 550000 and recognition of $ 5 million of previously deferred stock compensation that arose when powerschool was acquired by the company in 2001 related to certain powerschool employee stockholders who were terminated in the first quarter of 2003 .', 'termination of sales and marketing activities and employees , principally in the united states and europe , resulted in severance costs of $ 2.8 million and accrual of costs associated with operating leases on closed facilities of $ 6.7 million .', 'the total net restructuring charge of $ 23 million recognized during the first quarter of 2003 also reflects the reversal of $ 600000 of unused restructuring accrual originally made during the first quarter of 2002 .', 'except for certain costs associated with operating leases on closed facilities , the company currently anticipates that all of the remaining accrual for severance costs of approximately $ 400000 will be spent by the end of the first quarter of fiscal 2004. .']

0.27612

AAPL/2003/page_61.pdf-1

['61 of 93 is not necessarily indicative of the results of future operations that would have been achieved had the acquisitions taken place at the beginning of 2001 .', 'pro forma information follows ( in millions , except per share amounts ) : .']

['note 5 -- restructuring charges fiscal 2003 restructuring actions the company recorded total restructuring charges of approximately $ 26.8 million during the year ended september 27 , 2003 , including approximately $ 7.4 million in severance costs , a $ 5.0 million charge to write-off deferred compensation , $ 7.1 million in asset impairments and a $ 7.3 million charge for lease cancellations .', 'of the $ 26.8 million , nearly all had been spent by the end of 2003 , except for approximately $ 400000 of severance costs and approximately $ 4.5 million related to operating lease costs on abandoned facilities .', 'during the third quarter of 2003 , approximately $ 500000 of the amount originally accrued for lease cancellations was determined to be in excess due to the sublease of a property sooner than originally estimated and an approximately $ 500000 shortfall was identified in the severance accrual due to higher than expected severance costs related to the closure of the company 2019s singapore manufacturing operations .', 'these adjustments had no net effect on reported operating expense .', 'during the second quarter of 2003 , the company 2019s management approved and initiated restructuring actions that resulted in recognition of a total restructuring charge of $ 2.8 million , including $ 2.4 million in severance costs and $ 400000 for asset write-offs and lease payments on an abandoned facility .', 'actions taken in the second quarter were for the most part supplemental to actions initiated in the prior two quarters and focused on further headcount reductions in various sales and marketing functions in the company 2019s americas and europe operating segments and further reductions associated with powerschool-related activities in the americas operating segment , including an accrual for asset write-offs and lease payments on an abandoned facility .', 'the second quarter actions resulted in the termination of 93 employees , 92 were terminated prior to the end of 2003 .', 'during the first quarter of 2003 , the company 2019s management approved and initiated restructuring actions with a total cost of $ 24 million that resulted in the termination of manufacturing operations at the company-owned facility in singapore , further reductions in headcount resulting from the shift in powerschool product strategy that took place at the end of fiscal 2002 , and termination of various sales and marketing activities in the united states and europe .', 'these restructuring actions will ultimately result in the elimination of 260 positions worldwide , all but one of which were eliminated by the end of 2003 .', 'closure of the company 2019s singapore manufacturing operations resulted in severance costs of $ 1.8 million and costs of $ 6.7 million to write-off manufacturing related fixed assets , whose use ceased during the first quarter .', 'powerschool related costs included severance of approximately $ 550000 and recognition of $ 5 million of previously deferred stock compensation that arose when powerschool was acquired by the company in 2001 related to certain powerschool employee stockholders who were terminated in the first quarter of 2003 .', 'termination of sales and marketing activities and employees , principally in the united states and europe , resulted in severance costs of $ 2.8 million and accrual of costs associated with operating leases on closed facilities of $ 6.7 million .', 'the total net restructuring charge of $ 23 million recognized during the first quarter of 2003 also reflects the reversal of $ 600000 of unused restructuring accrual originally made during the first quarter of 2002 .', 'except for certain costs associated with operating leases on closed facilities , the company currently anticipates that all of the remaining accrual for severance costs of approximately $ 400000 will be spent by the end of the first quarter of fiscal 2004. .']

| 2001 net sales | $ 5370 net loss | $ -44 ( 44 ) basic loss per common share | $ -0.13 ( 0.13 ) diluted loss per common share | $ -0.13 ( 0.13 )

divide(7.4, 26.8)

0.27612

what is the percentage decrease in the minimum contribution to benefit pension plans due to the relied act?

Pre-text: ['american airlines , inc .', 'notes to consolidated financial statements 2014 ( continued ) temporary , targeted funding relief ( subject to certain terms and conditions ) for single employer and multiemployer pension plans that suffered significant losses in asset value due to the steep market slide in 2008 .', 'under the relief act , the company 2019s 2010 minimum required contribution to its defined benefit pension plans was reduced from $ 525 million to approximately $ 460 million .', 'the following benefit payments , which reflect expected future service as appropriate , are expected to be paid : retiree medical pension and other .'] Data Table: **************************************** | pension | retiree medical and other 2011 | 574 | 173 2012 | 602 | 170 2013 | 665 | 169 2014 | 729 | 170 2015 | 785 | 173 2016 2014 2020 | 4959 | 989 **************************************** Post-table: ['during 2008 , amr recorded a settlement charge totaling $ 103 million related to lump sum distributions from the company 2019s defined benefit pension plans to pilots who retired .', 'pursuant to u.s .', 'gaap , the use of settlement accounting is required if , for a given year , the cost of all settlements exceeds , or is expected to exceed , the sum of the service cost and interest cost components of net periodic pension expense for a plan .', 'under settlement accounting , unrecognized plan gains or losses must be recognized immediately in proportion to the percentage reduction of the plan 2019s projected benefit obligation .', '11 .', 'intangible assets the company has recorded international slot and route authorities of $ 708 million and $ 736 million as of december 31 , 2010 and 2009 , respectively .', 'the company considers these assets indefinite life assets and as a result , they are not amortized but instead are tested for impairment annually or more frequently if events or changes in circumstances indicate that the asset might be impaired .', 'such triggering events may include significant changes to the company 2019s network or capacity , or the implementation of open skies agreements in countries where the company operates flights .', 'in the fourth quarter of 2010 , the company performed its annual impairment testing on international slots and routes , at which time the net carrying value was reassessed for recoverability .', 'it was determined through this annual impairment testing that the fair value of certain international routes in latin america was less than the carrying value .', 'thus , the company incurred an impairment charge of $ 28 million to write down the values of these and certain other slots and routes .', 'as there is minimal market activity for the valuation of routes and international slots and landing rights , the company measures fair value with inputs using the income approach .', 'the income approach uses valuation techniques , such as future cash flows , to convert future amounts to a single present discounted amount .', 'the inputs utilized for these valuations are unobservable and reflect the company 2019s assumptions about market participants and what they would use to value the routes and accordingly are considered level 3 in the fair value hierarchy .', 'the company 2019s unobservable inputs are developed based on the best information available as of december 31 .']

-0.12381

AAL/2010/page_72.pdf-2

['american airlines , inc .', 'notes to consolidated financial statements 2014 ( continued ) temporary , targeted funding relief ( subject to certain terms and conditions ) for single employer and multiemployer pension plans that suffered significant losses in asset value due to the steep market slide in 2008 .', 'under the relief act , the company 2019s 2010 minimum required contribution to its defined benefit pension plans was reduced from $ 525 million to approximately $ 460 million .', 'the following benefit payments , which reflect expected future service as appropriate , are expected to be paid : retiree medical pension and other .']

['during 2008 , amr recorded a settlement charge totaling $ 103 million related to lump sum distributions from the company 2019s defined benefit pension plans to pilots who retired .', 'pursuant to u.s .', 'gaap , the use of settlement accounting is required if , for a given year , the cost of all settlements exceeds , or is expected to exceed , the sum of the service cost and interest cost components of net periodic pension expense for a plan .', 'under settlement accounting , unrecognized plan gains or losses must be recognized immediately in proportion to the percentage reduction of the plan 2019s projected benefit obligation .', '11 .', 'intangible assets the company has recorded international slot and route authorities of $ 708 million and $ 736 million as of december 31 , 2010 and 2009 , respectively .', 'the company considers these assets indefinite life assets and as a result , they are not amortized but instead are tested for impairment annually or more frequently if events or changes in circumstances indicate that the asset might be impaired .', 'such triggering events may include significant changes to the company 2019s network or capacity , or the implementation of open skies agreements in countries where the company operates flights .', 'in the fourth quarter of 2010 , the company performed its annual impairment testing on international slots and routes , at which time the net carrying value was reassessed for recoverability .', 'it was determined through this annual impairment testing that the fair value of certain international routes in latin america was less than the carrying value .', 'thus , the company incurred an impairment charge of $ 28 million to write down the values of these and certain other slots and routes .', 'as there is minimal market activity for the valuation of routes and international slots and landing rights , the company measures fair value with inputs using the income approach .', 'the income approach uses valuation techniques , such as future cash flows , to convert future amounts to a single present discounted amount .', 'the inputs utilized for these valuations are unobservable and reflect the company 2019s assumptions about market participants and what they would use to value the routes and accordingly are considered level 3 in the fair value hierarchy .', 'the company 2019s unobservable inputs are developed based on the best information available as of december 31 .']

**************************************** | pension | retiree medical and other 2011 | 574 | 173 2012 | 602 | 170 2013 | 665 | 169 2014 | 729 | 170 2015 | 785 | 173 2016 2014 2020 | 4959 | 989 ****************************************

subtract(460, 525), divide(#0, 525)

-0.12381

considering the total unconditional purchase obligations , what is the percentage of helium purchases concerning the total value?

Background: ['we , in the normal course of business operations , have issued product warranties related to equipment sales .', 'also , contracts often contain standard terms and conditions which typically include a warranty and indemnification to the buyer that the goods and services purchased do not infringe on third-party intellectual property rights .', 'the provision for estimated future costs relating to warranties is not material to the consolidated financial statements .', 'we do not expect that any sum we may have to pay in connection with guarantees and warranties will have a material adverse effect on our consolidated financial condition , liquidity , or results of operations .', 'unconditional purchase obligations we are obligated to make future payments under unconditional purchase obligations as summarized below: .'] -------- Tabular Data: **************************************** Row 1: 2017, $ 942 Row 2: 2018, 525 Row 3: 2019, 307 Row 4: 2020, 298 Row 5: 2021, 276 Row 6: thereafter, 2983 Row 7: total, $ 5331 **************************************** -------- Follow-up: ['approximately $ 4000 of our unconditional purchase obligations relate to helium purchases , which include crude feedstock supply to multiple helium refining plants in north america as well as refined helium purchases from sources around the world .', 'as a rare byproduct of natural gas production in the energy sector , these helium sourcing agreements are medium- to long-term and contain take-or-pay provisions .', 'the refined helium is distributed globally and sold as a merchant gas , primarily under medium-term requirements contracts .', 'while contract terms in the energy sector are longer than those in merchant , helium is a rare gas used in applications with few or no substitutions because of its unique physical and chemical properties .', 'approximately $ 330 of our long-term unconditional purchase obligations relate to feedstock supply for numerous hyco ( hydrogen , carbon monoxide , and syngas ) facilities .', 'the price of feedstock supply is principally related to the price of natural gas .', 'however , long-term take-or-pay sales contracts to hyco customers are generally matched to the term of the feedstock supply obligations and provide recovery of price increases in the feedstock supply .', 'due to the matching of most long-term feedstock supply obligations to customer sales contracts , we do not believe these purchase obligations would have a material effect on our financial condition or results of operations .', 'the unconditional purchase obligations also include other product supply and purchase commitments and electric power and natural gas supply purchase obligations , which are primarily pass-through contracts with our customers .', 'purchase commitments to spend approximately $ 350 for additional plant and equipment are included in the unconditional purchase obligations in 2017 .', 'in addition , we have purchase commitments totaling approximately $ 500 in 2017 and 2018 relating to our long-term sale of equipment project for saudi aramco 2019s jazan oil refinery .', '18 .', 'capital stock common stock authorized common stock consists of 300 million shares with a par value of $ 1 per share .', 'as of 30 september 2016 , 249 million shares were issued , with 217 million outstanding .', 'on 15 september 2011 , the board of directors authorized the repurchase of up to $ 1000 of our outstanding common stock .', 'we repurchase shares pursuant to rules 10b5-1 and 10b-18 under the securities exchange act of 1934 , as amended , through repurchase agreements established with several brokers .', 'we did not purchase any of our outstanding shares during fiscal year 2016 .', 'at 30 september 2016 , $ 485.3 in share repurchase authorization remains. .']

0.75033

APD/2016/page_109.pdf-1

['we , in the normal course of business operations , have issued product warranties related to equipment sales .', 'also , contracts often contain standard terms and conditions which typically include a warranty and indemnification to the buyer that the goods and services purchased do not infringe on third-party intellectual property rights .', 'the provision for estimated future costs relating to warranties is not material to the consolidated financial statements .', 'we do not expect that any sum we may have to pay in connection with guarantees and warranties will have a material adverse effect on our consolidated financial condition , liquidity , or results of operations .', 'unconditional purchase obligations we are obligated to make future payments under unconditional purchase obligations as summarized below: .']

['approximately $ 4000 of our unconditional purchase obligations relate to helium purchases , which include crude feedstock supply to multiple helium refining plants in north america as well as refined helium purchases from sources around the world .', 'as a rare byproduct of natural gas production in the energy sector , these helium sourcing agreements are medium- to long-term and contain take-or-pay provisions .', 'the refined helium is distributed globally and sold as a merchant gas , primarily under medium-term requirements contracts .', 'while contract terms in the energy sector are longer than those in merchant , helium is a rare gas used in applications with few or no substitutions because of its unique physical and chemical properties .', 'approximately $ 330 of our long-term unconditional purchase obligations relate to feedstock supply for numerous hyco ( hydrogen , carbon monoxide , and syngas ) facilities .', 'the price of feedstock supply is principally related to the price of natural gas .', 'however , long-term take-or-pay sales contracts to hyco customers are generally matched to the term of the feedstock supply obligations and provide recovery of price increases in the feedstock supply .', 'due to the matching of most long-term feedstock supply obligations to customer sales contracts , we do not believe these purchase obligations would have a material effect on our financial condition or results of operations .', 'the unconditional purchase obligations also include other product supply and purchase commitments and electric power and natural gas supply purchase obligations , which are primarily pass-through contracts with our customers .', 'purchase commitments to spend approximately $ 350 for additional plant and equipment are included in the unconditional purchase obligations in 2017 .', 'in addition , we have purchase commitments totaling approximately $ 500 in 2017 and 2018 relating to our long-term sale of equipment project for saudi aramco 2019s jazan oil refinery .', '18 .', 'capital stock common stock authorized common stock consists of 300 million shares with a par value of $ 1 per share .', 'as of 30 september 2016 , 249 million shares were issued , with 217 million outstanding .', 'on 15 september 2011 , the board of directors authorized the repurchase of up to $ 1000 of our outstanding common stock .', 'we repurchase shares pursuant to rules 10b5-1 and 10b-18 under the securities exchange act of 1934 , as amended , through repurchase agreements established with several brokers .', 'we did not purchase any of our outstanding shares during fiscal year 2016 .', 'at 30 september 2016 , $ 485.3 in share repurchase authorization remains. .']

**************************************** Row 1: 2017, $ 942 Row 2: 2018, 525 Row 3: 2019, 307 Row 4: 2020, 298 Row 5: 2021, 276 Row 6: thereafter, 2983 Row 7: total, $ 5331 ****************************************

divide(4000, 5331)

0.75033

what is the value of current maturities of long-term debt as a percent of total long-term debt for the first column?

Background: ['item 15 .', 'exhibits , financial statement schedules .', '( continued ) kinder morgan , inc .', 'form 10-k .'] -------- Data Table: ======================================== kinder morgan liquids terminals llc-n.j . development revenue bonds due january 15 2018 kinder morgan columbus llc-5.50% ( llc-5.50 % ) ms development revenue note due september 1 2022, 25.0 8.2, 25.0 8.2 kinder morgan operating l.p . 201cb 201d-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 ( 20.3 ), -21.2 ( 21.2 ) current maturities of long-term debt, -1263.3 ( 1263.3 ), -596.6 ( 596.6 ) total long-term debt 2013 kmp, $ 10282.8, $ 10007.5 ======================================== -------- Follow-up: ['____________ ( 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. .']

-1263.3

KMI/2010/page_164.pdf-1

['item 15 .', 'exhibits , financial statement schedules .', '( continued ) kinder morgan , inc .', 'form 10-k .']

['____________ ( 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. .']

======================================== kinder morgan liquids terminals llc-n.j . development revenue bonds due january 15 2018 kinder morgan columbus llc-5.50% ( llc-5.50 % ) ms development revenue note due september 1 2022, 25.0 8.2, 25.0 8.2 kinder morgan operating l.p . 201cb 201d-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 ( 20.3 ), -21.2 ( 21.2 ) current maturities of long-term debt, -1263.3 ( 1263.3 ), -596.6 ( 596.6 ) total long-term debt 2013 kmp, $ 10282.8, $ 10007.5 ========================================

multiply(1263.3, const_m1), divide(#0, 10282.8), multiply(#0, 100%)

-1263.3

what was the greatest ultimate trend rate for health care costs ? 4.70% ( 4.70 % ) 4.50% ( 4.50 % ) 4.50% ( 4.50 % )

Context: ['marathon oil corporation notes to consolidated financial statements expected long-term return on plan assets 2013 the expected long-term return on plan assets assumption for our u.s .', 'funded plan is determined based on an asset rate-of-return modeling tool developed by a third-party investment group which utilizes underlying assumptions based on actual returns by asset category and inflation and takes into account our u.s .', 'pension plan 2019s asset allocation .', 'to determine the expected long-term return on plan assets assumption for our international plans , we consider the current level of expected returns on risk-free investments ( primarily government bonds ) , the historical levels of the risk premiums associated with the other applicable asset categories and the expectations for future returns of each asset class .', 'the expected return for each asset category is then weighted based on the actual asset allocation to develop the overall expected long-term return on plan assets assumption .', 'assumed weighted average health care cost trend rates .'] #### Tabular Data: ======================================== , 2017, 2016, 2015 initial health care trend rate, 8.00% ( 8.00 % ), 8.25% ( 8.25 % ), 8.00% ( 8.00 % ) ultimate trend rate, 4.70% ( 4.70 % ), 4.50% ( 4.50 % ), 4.50% ( 4.50 % ) year ultimate trend rate is reached, 2025, 2025, 2024 ======================================== #### Additional Information: ['employer provided subsidies for post-65 retiree health care coverage were frozen effective january 1 , 2017 at january 1 , 2016 established amount levels .', 'company contributions are funded to a health reimbursement account on the retiree 2019s behalf to subsidize the retiree 2019s cost of obtaining health care benefits through a private exchange .', 'therefore , a 1% ( 1 % ) change in health care cost trend rates would not have a material impact on either the service and interest cost components and the postretirement benefit obligations .', 'plan investment policies and strategies 2013 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 applicable legal requirements ; ( 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 plan's investment committees and protecting the assets from any erosion of purchasing power ; and ( 3 ) position the portfolios with a long-term risk/return orientation .", 'investment performance and risk is measured and monitored on an ongoing basis through quarterly investment meetings and periodic asset and liability studies .', 'u.s .', 'plan 2013 the plan 2019s current targeted asset allocation is comprised of 55% ( 55 % ) equity securities and 45% ( 45 % ) other fixed income securities .', 'over time , as the plan 2019s funded ratio ( as defined by the investment policy ) improves , in order to reduce volatility in returns and to better match the plan 2019s liabilities , the allocation to equity securities will decrease while the amount allocated to fixed income securities will increase .', "the plan's assets are managed by a third-party investment manager .", "international plan 2013 our international plan's target asset allocation is comprised of 55% ( 55 % ) equity securities and 45% ( 45 % ) fixed income securities .", 'the plan assets are invested in ten separate portfolios , mainly pooled fund vehicles , managed by several professional investment managers whose performance is measured independently by a third-party asset servicing consulting fair value measurements 2013 plan assets are measured at fair value .', 'the following provides a description of the valuation techniques employed for each major plan asset class at december 31 , 2017 and 2016 .', 'cash and cash equivalents 2013 cash and cash equivalents are valued using a market approach and are considered level 1 .', 'this investment also includes a cash reserve account ( a collective short-term investment fund ) that is valued using an income approach and is considered level 2 .', 'equity securities - investments in common stock and preferred stock are valued using a market approach at the closing price reported in an active market and are therefore considered level 1 .', 'private equity investments include interests in limited partnerships which are valued based on the sum of the estimated fair values of the investments held by each partnership .', 'these private equity investments are considered level 3 .', 'investments in pooled funds are valued using a market approach at the net asset value ( "nav" ) of units held .', 'the various funds consist of either an equity or fixed income investment portfolio with underlying investments held in u.s .', 'and non-u.s .', 'securities .', 'nearly all of the underlying investments are publicly-traded .', 'the majority of the pooled funds are benchmarked against a relative public index .', 'these are considered level 2 .', 'fixed income securities - fixed income securities are valued using a market approach .', 'u.s .', 'treasury notes and exchange traded funds ( "etfs" ) are valued at the closing price reported in an active market and are considered level 1 .', 'corporate bonds , non-u.s .', 'government bonds , private placements , taxable municipals , gnma/fnma pools , and yankee bonds are valued using calculated yield curves created by models that incorporate various market factors .', 'primarily investments are held in u.s .', 'and non-u.s .', 'corporate bonds in diverse industries and are considered level 2 .', 'other fixed income investments include futures contracts , real estate investment trusts , credit default , zero coupon , and interest rate swaps .', 'the investment in the commingled .']

0.047

MRO/2017/page_96.pdf-1

['marathon oil corporation notes to consolidated financial statements expected long-term return on plan assets 2013 the expected long-term return on plan assets assumption for our u.s .', 'funded plan is determined based on an asset rate-of-return modeling tool developed by a third-party investment group which utilizes underlying assumptions based on actual returns by asset category and inflation and takes into account our u.s .', 'pension plan 2019s asset allocation .', 'to determine the expected long-term return on plan assets assumption for our international plans , we consider the current level of expected returns on risk-free investments ( primarily government bonds ) , the historical levels of the risk premiums associated with the other applicable asset categories and the expectations for future returns of each asset class .', 'the expected return for each asset category is then weighted based on the actual asset allocation to develop the overall expected long-term return on plan assets assumption .', 'assumed weighted average health care cost trend rates .']

['employer provided subsidies for post-65 retiree health care coverage were frozen effective january 1 , 2017 at january 1 , 2016 established amount levels .', 'company contributions are funded to a health reimbursement account on the retiree 2019s behalf to subsidize the retiree 2019s cost of obtaining health care benefits through a private exchange .', 'therefore , a 1% ( 1 % ) change in health care cost trend rates would not have a material impact on either the service and interest cost components and the postretirement benefit obligations .', 'plan investment policies and strategies 2013 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 applicable legal requirements ; ( 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 plan's investment committees and protecting the assets from any erosion of purchasing power ; and ( 3 ) position the portfolios with a long-term risk/return orientation .", 'investment performance and risk is measured and monitored on an ongoing basis through quarterly investment meetings and periodic asset and liability studies .', 'u.s .', 'plan 2013 the plan 2019s current targeted asset allocation is comprised of 55% ( 55 % ) equity securities and 45% ( 45 % ) other fixed income securities .', 'over time , as the plan 2019s funded ratio ( as defined by the investment policy ) improves , in order to reduce volatility in returns and to better match the plan 2019s liabilities , the allocation to equity securities will decrease while the amount allocated to fixed income securities will increase .', "the plan's assets are managed by a third-party investment manager .", "international plan 2013 our international plan's target asset allocation is comprised of 55% ( 55 % ) equity securities and 45% ( 45 % ) fixed income securities .", 'the plan assets are invested in ten separate portfolios , mainly pooled fund vehicles , managed by several professional investment managers whose performance is measured independently by a third-party asset servicing consulting fair value measurements 2013 plan assets are measured at fair value .', 'the following provides a description of the valuation techniques employed for each major plan asset class at december 31 , 2017 and 2016 .', 'cash and cash equivalents 2013 cash and cash equivalents are valued using a market approach and are considered level 1 .', 'this investment also includes a cash reserve account ( a collective short-term investment fund ) that is valued using an income approach and is considered level 2 .', 'equity securities - investments in common stock and preferred stock are valued using a market approach at the closing price reported in an active market and are therefore considered level 1 .', 'private equity investments include interests in limited partnerships which are valued based on the sum of the estimated fair values of the investments held by each partnership .', 'these private equity investments are considered level 3 .', 'investments in pooled funds are valued using a market approach at the net asset value ( "nav" ) of units held .', 'the various funds consist of either an equity or fixed income investment portfolio with underlying investments held in u.s .', 'and non-u.s .', 'securities .', 'nearly all of the underlying investments are publicly-traded .', 'the majority of the pooled funds are benchmarked against a relative public index .', 'these are considered level 2 .', 'fixed income securities - fixed income securities are valued using a market approach .', 'u.s .', 'treasury notes and exchange traded funds ( "etfs" ) are valued at the closing price reported in an active market and are considered level 1 .', 'corporate bonds , non-u.s .', 'government bonds , private placements , taxable municipals , gnma/fnma pools , and yankee bonds are valued using calculated yield curves created by models that incorporate various market factors .', 'primarily investments are held in u.s .', 'and non-u.s .', 'corporate bonds in diverse industries and are considered level 2 .', 'other fixed income investments include futures contracts , real estate investment trusts , credit default , zero coupon , and interest rate swaps .', 'the investment in the commingled .']

======================================== , 2017, 2016, 2015 initial health care trend rate, 8.00% ( 8.00 % ), 8.25% ( 8.25 % ), 8.00% ( 8.00 % ) ultimate trend rate, 4.70% ( 4.70 % ), 4.50% ( 4.50 % ), 4.50% ( 4.50 % ) year ultimate trend rate is reached, 2025, 2025, 2024 ========================================

table_max(ultimate trend rate, none)

0.047

what percentage of total goodwill is attributable to retail bank reporting unit as december 31 , 2011?

Pre-text: ['judgments the valuation of goodwill and other intangible assets depends on a number of factors , including estimates of future market growth and trends , forecasted revenue and costs , expected useful lives of the assets , appropriate discount rates and other variables .', 'goodwill is allocated to reporting units , which are components of the business that are one level below operating segments .', 'each of these reporting units is tested for impairment individually during the annual evaluation .', 'there is no goodwill assigned to reporting units within the balance sheet management segment .', 'the following table shows the amount of goodwill allocated to each of the reporting units in the trading and investing segment ( dollars in millions ) : .'] ---------- Tabular Data: **************************************** reporting unit | december 31 2011 ----------|---------- u.s . brokerage | $ 1751.2 capital markets | 142.4 retail bank | 40.6 total goodwill | $ 1934.2 **************************************** ---------- Follow-up: ['in connection with our annual impairment test of goodwill , we concluded that the goodwill was not impaired as the fair value of the reporting units was in excess of the book value of those reporting units as of december 31 , 2011 .', 'the fair value of the reporting units exceeded the book value of those reporting units by substantial amounts ( fair value as a percent of book value ranged from approximately 150% ( 150 % ) to 700% ( 700 % ) ) and therefore did not indicate a significant risk of goodwill impairment based on current projections and valuations .', 'we also evaluate the remaining useful lives on intangible assets each reporting period to determine whether events and circumstances warrant a revision to the remaining period of amortization .', 'effects if actual results differ if our estimates of fair value for the reporting units change due to changes in our business or other factors , we may determine that an impairment charge is necessary .', 'estimates of fair value are determined based on a complex model using cash flows and company comparisons .', 'if management 2019s estimates of future cash flows are inaccurate , the fair value determined could be inaccurate and impairment would not be recognized in a timely manner .', 'intangible assets are amortized over their estimated useful lives .', 'if changes in the estimated underlying revenue occur , impairment or a change in the remaining life may need to be recognized. .']

0.02099

ETFC/2011/page_82.pdf-1

['judgments the valuation of goodwill and other intangible assets depends on a number of factors , including estimates of future market growth and trends , forecasted revenue and costs , expected useful lives of the assets , appropriate discount rates and other variables .', 'goodwill is allocated to reporting units , which are components of the business that are one level below operating segments .', 'each of these reporting units is tested for impairment individually during the annual evaluation .', 'there is no goodwill assigned to reporting units within the balance sheet management segment .', 'the following table shows the amount of goodwill allocated to each of the reporting units in the trading and investing segment ( dollars in millions ) : .']

['in connection with our annual impairment test of goodwill , we concluded that the goodwill was not impaired as the fair value of the reporting units was in excess of the book value of those reporting units as of december 31 , 2011 .', 'the fair value of the reporting units exceeded the book value of those reporting units by substantial amounts ( fair value as a percent of book value ranged from approximately 150% ( 150 % ) to 700% ( 700 % ) ) and therefore did not indicate a significant risk of goodwill impairment based on current projections and valuations .', 'we also evaluate the remaining useful lives on intangible assets each reporting period to determine whether events and circumstances warrant a revision to the remaining period of amortization .', 'effects if actual results differ if our estimates of fair value for the reporting units change due to changes in our business or other factors , we may determine that an impairment charge is necessary .', 'estimates of fair value are determined based on a complex model using cash flows and company comparisons .', 'if management 2019s estimates of future cash flows are inaccurate , the fair value determined could be inaccurate and impairment would not be recognized in a timely manner .', 'intangible assets are amortized over their estimated useful lives .', 'if changes in the estimated underlying revenue occur , impairment or a change in the remaining life may need to be recognized. .']

**************************************** reporting unit | december 31 2011 ----------|---------- u.s . brokerage | $ 1751.2 capital markets | 142.4 retail bank | 40.6 total goodwill | $ 1934.2 ****************************************

divide(40.6, 1934.2)

0.02099

what was the average ending balance of allowance for unrecognized tax positions?

Background: ['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 ) .'] Tabular Data: | 2011 | 2010 ----------|----------|---------- beginning balance | $ 156925 | $ 218040 gross increases in unrecognized tax benefits 2013 prior year tax positions | 11901 | 9580 gross decreases in unrecognized tax benefits 2013 prior year tax positions | -4154 ( 4154 ) | -7104 ( 7104 ) gross increases in unrecognized tax benefits 2013 current year tax positions | 32420 | 15108 settlements with taxing authorities | -29101 ( 29101 ) | -70484 ( 70484 ) lapse of statute of limitations | -3825 ( 3825 ) | -7896 ( 7896 ) foreign exchange gains and losses | -559 ( 559 ) | -319 ( 319 ) ending balance | $ 163607 | $ 156925 Additional Information: ['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 ) .']

160266.0

ADBE/2011/page_101.pdf-2

['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 ) .']

['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 | $ 156925 | $ 218040 gross increases in unrecognized tax benefits 2013 prior year tax positions | 11901 | 9580 gross decreases in unrecognized tax benefits 2013 prior year tax positions | -4154 ( 4154 ) | -7104 ( 7104 ) gross increases in unrecognized tax benefits 2013 current year tax positions | 32420 | 15108 settlements with taxing authorities | -29101 ( 29101 ) | -70484 ( 70484 ) lapse of statute of limitations | -3825 ( 3825 ) | -7896 ( 7896 ) foreign exchange gains and losses | -559 ( 559 ) | -319 ( 319 ) ending balance | $ 163607 | $ 156925

table_average(ending balance, none)

160266.0

in 2013 what was the operating margin

Background: ['our overall gross margin percentage decreased to 59.8% ( 59.8 % ) in 2013 from 62.1% ( 62.1 % ) in 2012 .', 'the decrease in the gross margin percentage was primarily due to the gross margin percentage decrease in pccg .', 'we derived most of our overall gross margin dollars in 2013 and 2012 from the sale of platforms in the pccg and dcg operating segments .', 'our net revenue for 2012 , which included 52 weeks , decreased by $ 658 million , or 1% ( 1 % ) , compared to 2011 , which included 53 weeks .', 'the pccg and dcg platform unit sales decreased 1% ( 1 % ) while average selling prices were unchanged .', 'additionally , lower netbook platform unit sales and multi-comm average selling prices , primarily discrete modems , contributed to the decrease .', 'these decreases were partially offset by our mcafee operating segment , which we acquired in the q1 2011 .', 'mcafee contributed $ 469 million of additional revenue in 2012 compared to 2011 .', 'our overall gross margin dollars for 2012 decreased by $ 606 million , or 2% ( 2 % ) , compared to 2011 .', 'the decrease was due in large part to $ 494 million of excess capacity charges , as well as lower revenue from the pccg and dcg platform .', 'to a lesser extent , approximately $ 390 million of higher unit costs on the pccg and dcg platform as well as lower netbook and multi-comm revenue contributed to the decrease .', 'the decrease was partially offset by $ 643 million of lower factory start-up costs as we transition from our 22nm process technology to r&d of our next- generation 14nm process technology , as well as $ 422 million of charges recorded in 2011 to repair and replace materials and systems impacted by a design issue related to our intel ae 6 series express chipset family .', 'the decrease was also partially offset by the two additional months of results from our acquisition of mcafee , which occurred on february 28 , 2011 , contributing approximately $ 334 million of additional gross margin dollars in 2012 compared to 2011 .', 'the amortization of acquisition-related intangibles resulted in a $ 557 million reduction to our overall gross margin dollars in 2012 , compared to $ 482 million in 2011 , primarily due to acquisitions completed in q1 2011 .', 'our overall gross margin percentage in 2012 was flat from 2011 as higher excess capacity charges and higher unit costs on the pccg and dcg platform were offset by lower factory start-up costs and no impact in 2012 for a design issue related to our intel 6 series express chipset family .', 'we derived a substantial majority of our overall gross margin dollars in 2012 and 2011 from the sale of platforms in the pccg and dcg operating segments .', 'pc client group the revenue and operating income for the pccg operating segment for each period were as follows: .'] #### Data Table: ======================================== Row 1: ( in millions ), 2013, 2012, 2011 Row 2: net revenue, $ 33039, $ 34504, $ 35624 Row 3: operating income, $ 11827, $ 13106, $ 14840 ======================================== #### Post-table: ['net revenue for the pccg operating segment decreased by $ 1.5 billion , or 4% ( 4 % ) , in 2013 compared to 2012 .', 'pccg platform unit sales were down 3% ( 3 % ) primarily on softness in traditional pc demand during the first nine months of the year .', 'the decrease in revenue was driven by lower notebook and desktop platform unit sales which were down 4% ( 4 % ) and 2% ( 2 % ) , respectively .', 'pccg platform average selling prices were flat , with 6% ( 6 % ) higher desktop platform average selling prices offset by 4% ( 4 % ) lower notebook platform average selling prices .', 'operating income decreased by $ 1.3 billion , or 10% ( 10 % ) , in 2013 compared to 2012 , which was driven by $ 1.5 billion of lower gross margin , partially offset by $ 200 million of lower operating expenses .', 'the decrease in gross margin was driven by $ 1.5 billion of higher factory start-up costs primarily on our next-generation 14nm process technology as well as lower pccg platform revenue .', 'these decreases were partially offset by approximately $ 520 million of lower pccg platform unit costs , $ 260 million of lower excess capacity charges , and higher sell-through of previously non- qualified units .', 'net revenue for the pccg operating segment decreased by $ 1.1 billion , or 3% ( 3 % ) , in 2012 compared to 2011 .', 'pccg revenue was negatively impacted by the growth of tablets as these devices compete with pcs for consumer sales .', 'platform average selling prices and unit sales decreased 2% ( 2 % ) and 1% ( 1 % ) , respectively .', 'the decrease was driven by 6% ( 6 % ) lower notebook platform average selling prices and 5% ( 5 % ) lower desktop platform unit sales .', 'these decreases were partially offset by a 4% ( 4 % ) increase in desktop platform average selling prices and a 2% ( 2 % ) increase in notebook platform unit sales .', 'table of contents management 2019s discussion and analysis of financial condition and results of operations ( continued ) .']

0.35797

INTC/2013/page_40.pdf-3

['our overall gross margin percentage decreased to 59.8% ( 59.8 % ) in 2013 from 62.1% ( 62.1 % ) in 2012 .', 'the decrease in the gross margin percentage was primarily due to the gross margin percentage decrease in pccg .', 'we derived most of our overall gross margin dollars in 2013 and 2012 from the sale of platforms in the pccg and dcg operating segments .', 'our net revenue for 2012 , which included 52 weeks , decreased by $ 658 million , or 1% ( 1 % ) , compared to 2011 , which included 53 weeks .', 'the pccg and dcg platform unit sales decreased 1% ( 1 % ) while average selling prices were unchanged .', 'additionally , lower netbook platform unit sales and multi-comm average selling prices , primarily discrete modems , contributed to the decrease .', 'these decreases were partially offset by our mcafee operating segment , which we acquired in the q1 2011 .', 'mcafee contributed $ 469 million of additional revenue in 2012 compared to 2011 .', 'our overall gross margin dollars for 2012 decreased by $ 606 million , or 2% ( 2 % ) , compared to 2011 .', 'the decrease was due in large part to $ 494 million of excess capacity charges , as well as lower revenue from the pccg and dcg platform .', 'to a lesser extent , approximately $ 390 million of higher unit costs on the pccg and dcg platform as well as lower netbook and multi-comm revenue contributed to the decrease .', 'the decrease was partially offset by $ 643 million of lower factory start-up costs as we transition from our 22nm process technology to r&d of our next- generation 14nm process technology , as well as $ 422 million of charges recorded in 2011 to repair and replace materials and systems impacted by a design issue related to our intel ae 6 series express chipset family .', 'the decrease was also partially offset by the two additional months of results from our acquisition of mcafee , which occurred on february 28 , 2011 , contributing approximately $ 334 million of additional gross margin dollars in 2012 compared to 2011 .', 'the amortization of acquisition-related intangibles resulted in a $ 557 million reduction to our overall gross margin dollars in 2012 , compared to $ 482 million in 2011 , primarily due to acquisitions completed in q1 2011 .', 'our overall gross margin percentage in 2012 was flat from 2011 as higher excess capacity charges and higher unit costs on the pccg and dcg platform were offset by lower factory start-up costs and no impact in 2012 for a design issue related to our intel 6 series express chipset family .', 'we derived a substantial majority of our overall gross margin dollars in 2012 and 2011 from the sale of platforms in the pccg and dcg operating segments .', 'pc client group the revenue and operating income for the pccg operating segment for each period were as follows: .']

['net revenue for the pccg operating segment decreased by $ 1.5 billion , or 4% ( 4 % ) , in 2013 compared to 2012 .', 'pccg platform unit sales were down 3% ( 3 % ) primarily on softness in traditional pc demand during the first nine months of the year .', 'the decrease in revenue was driven by lower notebook and desktop platform unit sales which were down 4% ( 4 % ) and 2% ( 2 % ) , respectively .', 'pccg platform average selling prices were flat , with 6% ( 6 % ) higher desktop platform average selling prices offset by 4% ( 4 % ) lower notebook platform average selling prices .', 'operating income decreased by $ 1.3 billion , or 10% ( 10 % ) , in 2013 compared to 2012 , which was driven by $ 1.5 billion of lower gross margin , partially offset by $ 200 million of lower operating expenses .', 'the decrease in gross margin was driven by $ 1.5 billion of higher factory start-up costs primarily on our next-generation 14nm process technology as well as lower pccg platform revenue .', 'these decreases were partially offset by approximately $ 520 million of lower pccg platform unit costs , $ 260 million of lower excess capacity charges , and higher sell-through of previously non- qualified units .', 'net revenue for the pccg operating segment decreased by $ 1.1 billion , or 3% ( 3 % ) , in 2012 compared to 2011 .', 'pccg revenue was negatively impacted by the growth of tablets as these devices compete with pcs for consumer sales .', 'platform average selling prices and unit sales decreased 2% ( 2 % ) and 1% ( 1 % ) , respectively .', 'the decrease was driven by 6% ( 6 % ) lower notebook platform average selling prices and 5% ( 5 % ) lower desktop platform unit sales .', 'these decreases were partially offset by a 4% ( 4 % ) increase in desktop platform average selling prices and a 2% ( 2 % ) increase in notebook platform unit sales .', 'table of contents management 2019s discussion and analysis of financial condition and results of operations ( continued ) .']

======================================== Row 1: ( in millions ), 2013, 2012, 2011 Row 2: net revenue, $ 33039, $ 34504, $ 35624 Row 3: operating income, $ 11827, $ 13106, $ 14840 ========================================

divide(11827, 33039)

0.35797

what was the total fair value of incentive/performance unit share and restricted stock/unit awards vested during 2014 and 2013 in millions?

Context: ['to determine stock-based compensation expense , the grant date fair value is applied to the options granted with a reduction for estimated forfeitures .', 'we recognize compensation expense for stock options on a straight-line basis over the specified vesting period .', 'at december 31 , 2013 and 2012 , options for 10204000 and 12759000 shares of common stock were exercisable at a weighted-average price of $ 89.46 and $ 90.86 , respectively .', 'the total intrinsic value of options exercised during 2014 , 2013 and 2012 was $ 90 million , $ 86 million and $ 37 million , respectively .', 'cash received from option exercises under all incentive plans for 2014 , 2013 and 2012 was approximately $ 215 million , $ 208 million and $ 118 million , respectively .', 'the tax benefit realized from option exercises under all incentive plans for 2014 , 2013 and 2012 was approximately $ 33 million , $ 31 million and $ 14 million , respectively .', 'shares of common stock available during the next year for the granting of options and other awards under the incentive plans were 17997353 at december 31 , 2014 .', 'total shares of pnc common stock authorized for future issuance under equity compensation plans totaled 19017057 shares at december 31 , 2014 , which includes shares available for issuance under the incentive plans and the employee stock purchase plan ( espp ) as described below .', 'during 2014 , we issued approximately 2.4 million shares from treasury stock in connection with stock option exercise activity .', 'as with past exercise activity , we currently intend to utilize primarily treasury stock for any future stock option exercises .', 'awards granted to non-employee directors in 2014 , 2013 and 2012 include 21490 , 27076 and 25620 deferred stock units , respectively , awarded under the outside directors deferred stock unit plan .', 'a deferred stock unit is a phantom share of our common stock , which is accounted for as a liability until such awards are paid to the participants in cash .', 'as there are no vesting or service requirements on these awards , total compensation expense is recognized in full for these awards on the date of grant .', 'incentive/performance unit share awards and restricted stock/share unit awards the fair value of nonvested incentive/performance unit share awards and restricted stock/share unit awards is initially determined based on prices not less than the market value of our common stock on the date of grant .', 'the value of certain incentive/performance unit share awards is subsequently remeasured based on the achievement of one or more financial and other performance goals .', 'the personnel and compensation committee ( 201cp&cc 201d ) of the board of directors approves the final award payout with respect to certain incentive/performance unit share awards .', 'these awards have either a three-year or a four-year performance period and are payable in either stock or a combination of stock and cash .', 'restricted stock/share unit awards have various vesting periods generally ranging from 3 years to 5 years .', 'beginning in 2013 , we incorporated several enhanced risk- related performance changes to certain long-term incentive compensation programs .', 'in addition to achieving certain financial performance metrics on both an absolute basis and relative to our peers , final payout amounts will be subject to reduction if pnc fails to meet certain risk-related performance metrics as specified in the award agreements .', 'however , the p&cc has the discretion to waive any or all of this reduction under certain circumstances .', 'the weighted-average grant date fair value of incentive/ performance unit share awards and restricted stock/unit awards granted in 2014 , 2013 and 2012 was $ 80.79 , $ 64.77 and $ 60.68 per share , respectively .', 'the total fair value of incentive/performance unit share and restricted stock/unit awards vested during 2014 , 2013 and 2012 was approximately $ 119 million , $ 63 million and $ 55 million , respectively .', 'we recognize compensation expense for such awards ratably over the corresponding vesting and/or performance periods for each type of program .', 'table 121 : nonvested incentive/performance unit share awards and restricted stock/share unit awards 2013 rollforward shares in thousands nonvested incentive/ performance unit shares weighted- average grant date fair value nonvested restricted stock/ weighted- average grant date fair value .'] Data Table: **************************************** Row 1: shares in thousands december 31 2013, nonvested incentive/ performance unit shares 1647, weighted-averagegrant datefair value $ 63.49, nonvested restricted stock/ share units 3483, weighted-averagegrant datefair value $ 62.70 Row 2: granted, 723, 79.90, 1276, 81.29 Row 3: vested/released, -513 ( 513 ), 63.64, -962 ( 962 ), 62.32 Row 4: forfeited, -20 ( 20 ), 69.18, -145 ( 145 ), 69.44 Row 5: december 31 2014, 1837, $ 69.84, 3652, $ 69.03 **************************************** Additional Information: ['the pnc financial services group , inc .', '2013 form 10-k 185 .']

182.0

PNC/2014/page_203.pdf-3

['to determine stock-based compensation expense , the grant date fair value is applied to the options granted with a reduction for estimated forfeitures .', 'we recognize compensation expense for stock options on a straight-line basis over the specified vesting period .', 'at december 31 , 2013 and 2012 , options for 10204000 and 12759000 shares of common stock were exercisable at a weighted-average price of $ 89.46 and $ 90.86 , respectively .', 'the total intrinsic value of options exercised during 2014 , 2013 and 2012 was $ 90 million , $ 86 million and $ 37 million , respectively .', 'cash received from option exercises under all incentive plans for 2014 , 2013 and 2012 was approximately $ 215 million , $ 208 million and $ 118 million , respectively .', 'the tax benefit realized from option exercises under all incentive plans for 2014 , 2013 and 2012 was approximately $ 33 million , $ 31 million and $ 14 million , respectively .', 'shares of common stock available during the next year for the granting of options and other awards under the incentive plans were 17997353 at december 31 , 2014 .', 'total shares of pnc common stock authorized for future issuance under equity compensation plans totaled 19017057 shares at december 31 , 2014 , which includes shares available for issuance under the incentive plans and the employee stock purchase plan ( espp ) as described below .', 'during 2014 , we issued approximately 2.4 million shares from treasury stock in connection with stock option exercise activity .', 'as with past exercise activity , we currently intend to utilize primarily treasury stock for any future stock option exercises .', 'awards granted to non-employee directors in 2014 , 2013 and 2012 include 21490 , 27076 and 25620 deferred stock units , respectively , awarded under the outside directors deferred stock unit plan .', 'a deferred stock unit is a phantom share of our common stock , which is accounted for as a liability until such awards are paid to the participants in cash .', 'as there are no vesting or service requirements on these awards , total compensation expense is recognized in full for these awards on the date of grant .', 'incentive/performance unit share awards and restricted stock/share unit awards the fair value of nonvested incentive/performance unit share awards and restricted stock/share unit awards is initially determined based on prices not less than the market value of our common stock on the date of grant .', 'the value of certain incentive/performance unit share awards is subsequently remeasured based on the achievement of one or more financial and other performance goals .', 'the personnel and compensation committee ( 201cp&cc 201d ) of the board of directors approves the final award payout with respect to certain incentive/performance unit share awards .', 'these awards have either a three-year or a four-year performance period and are payable in either stock or a combination of stock and cash .', 'restricted stock/share unit awards have various vesting periods generally ranging from 3 years to 5 years .', 'beginning in 2013 , we incorporated several enhanced risk- related performance changes to certain long-term incentive compensation programs .', 'in addition to achieving certain financial performance metrics on both an absolute basis and relative to our peers , final payout amounts will be subject to reduction if pnc fails to meet certain risk-related performance metrics as specified in the award agreements .', 'however , the p&cc has the discretion to waive any or all of this reduction under certain circumstances .', 'the weighted-average grant date fair value of incentive/ performance unit share awards and restricted stock/unit awards granted in 2014 , 2013 and 2012 was $ 80.79 , $ 64.77 and $ 60.68 per share , respectively .', 'the total fair value of incentive/performance unit share and restricted stock/unit awards vested during 2014 , 2013 and 2012 was approximately $ 119 million , $ 63 million and $ 55 million , respectively .', 'we recognize compensation expense for such awards ratably over the corresponding vesting and/or performance periods for each type of program .', 'table 121 : nonvested incentive/performance unit share awards and restricted stock/share unit awards 2013 rollforward shares in thousands nonvested incentive/ performance unit shares weighted- average grant date fair value nonvested restricted stock/ weighted- average grant date fair value .']

['the pnc financial services group , inc .', '2013 form 10-k 185 .']

**************************************** Row 1: shares in thousands december 31 2013, nonvested incentive/ performance unit shares 1647, weighted-averagegrant datefair value $ 63.49, nonvested restricted stock/ share units 3483, weighted-averagegrant datefair value $ 62.70 Row 2: granted, 723, 79.90, 1276, 81.29 Row 3: vested/released, -513 ( 513 ), 63.64, -962 ( 962 ), 62.32 Row 4: forfeited, -20 ( 20 ), 69.18, -145 ( 145 ), 69.44 Row 5: december 31 2014, 1837, $ 69.84, 3652, $ 69.03 ****************************************

add(119, 63)

182.0

assuming that intangible asset will be sold , what will be the accumulated deprecation at the end of 2007 , in millions?

Background: ['american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) the company has selected december 1 as the date to perform its annual impairment test .', 'in performing its 2005 and 2004 testing , the company completed an internal appraisal and estimated the fair value of the rental and management reporting unit that contains goodwill utilizing future discounted cash flows and market information .', 'based on the appraisals performed , the company determined that goodwill in its rental and management segment was not impaired .', 'the company 2019s other intangible assets subject to amortization consist of the following as of december 31 , ( in thousands ) : .'] Data Table: **************************************** , 2005, 2004 acquired customer base and network location intangibles, $ 2606546, $ 1369607 deferred financing costs, 65623, 89736 acquired licenses and other intangibles, 51703, 43404 total, 2723872, 1502747 less accumulated amortization, -646560 ( 646560 ), -517444 ( 517444 ) other intangible assets net, $ 2077312, $ 985303 **************************************** Post-table: ['the company amortizes its intangible assets over periods ranging from three to fifteen years .', 'amortization of intangible assets for the years ended december 31 , 2005 and 2004 aggregated approximately $ 136.0 million and $ 97.8 million , respectively ( excluding amortization of deferred financing costs , which is included in interest expense ) .', 'the company expects to record amortization expense of approximately $ 183.6 million , $ 178.3 million , $ 174.4 million , $ 172.7 million and $ 170.3 million , for the years ended december 31 , 2006 , 2007 , 2008 , 2009 and 2010 , respectively .', 'these amounts are subject to changes in estimates until the preliminary allocation of the spectrasite purchase price is finalized .', '6 .', 'notes receivable in 2000 , the company loaned tv azteca , s.a .', 'de c.v .', '( tv azteca ) , the owner of a major national television network in mexico , $ 119.8 million .', 'the loan , which initially bore interest at 12.87% ( 12.87 % ) , payable quarterly , was discounted by the company , as the fair value interest rate at the date of the loan was determined to be 14.25% ( 14.25 % ) .', 'the loan was amended effective january 1 , 2003 to increase the original interest rate to 13.11% ( 13.11 % ) .', 'as of december 31 , 2005 and 2004 , approximately $ 119.8 million undiscounted ( $ 108.2 million discounted ) under the loan was outstanding and included in notes receivable and other long-term assets in the accompanying consolidated balance sheets .', 'the term of the loan is seventy years ; however , the loan may be prepaid by tv azteca without penalty during the last fifty years of the agreement .', 'the discount on the loan is being amortized to interest income 2014tv azteca , net , using the effective interest method over the seventy-year term of the loan .', 'simultaneous with the signing of the loan agreement , the company also entered into a seventy year economic rights agreement with tv azteca regarding space not used by tv azteca on approximately 190 of its broadcast towers .', 'in exchange for the issuance of the below market interest rate loan discussed above and the annual payment of $ 1.5 million to tv azteca ( under the economic rights agreement ) , the company has the right to market and lease the unused tower space on the broadcast towers ( the economic rights ) .', 'tv azteca retains title to these towers and is responsible for their operation and maintenance .', 'the company is entitled to 100% ( 100 % ) of the revenues generated from leases with tenants on the unused space and is responsible for any incremental operating expenses associated with those tenants. .']

1008.46

AMT/2005/page_84.pdf-4

['american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) the company has selected december 1 as the date to perform its annual impairment test .', 'in performing its 2005 and 2004 testing , the company completed an internal appraisal and estimated the fair value of the rental and management reporting unit that contains goodwill utilizing future discounted cash flows and market information .', 'based on the appraisals performed , the company determined that goodwill in its rental and management segment was not impaired .', 'the company 2019s other intangible assets subject to amortization consist of the following as of december 31 , ( in thousands ) : .']

['the company amortizes its intangible assets over periods ranging from three to fifteen years .', 'amortization of intangible assets for the years ended december 31 , 2005 and 2004 aggregated approximately $ 136.0 million and $ 97.8 million , respectively ( excluding amortization of deferred financing costs , which is included in interest expense ) .', 'the company expects to record amortization expense of approximately $ 183.6 million , $ 178.3 million , $ 174.4 million , $ 172.7 million and $ 170.3 million , for the years ended december 31 , 2006 , 2007 , 2008 , 2009 and 2010 , respectively .', 'these amounts are subject to changes in estimates until the preliminary allocation of the spectrasite purchase price is finalized .', '6 .', 'notes receivable in 2000 , the company loaned tv azteca , s.a .', 'de c.v .', '( tv azteca ) , the owner of a major national television network in mexico , $ 119.8 million .', 'the loan , which initially bore interest at 12.87% ( 12.87 % ) , payable quarterly , was discounted by the company , as the fair value interest rate at the date of the loan was determined to be 14.25% ( 14.25 % ) .', 'the loan was amended effective january 1 , 2003 to increase the original interest rate to 13.11% ( 13.11 % ) .', 'as of december 31 , 2005 and 2004 , approximately $ 119.8 million undiscounted ( $ 108.2 million discounted ) under the loan was outstanding and included in notes receivable and other long-term assets in the accompanying consolidated balance sheets .', 'the term of the loan is seventy years ; however , the loan may be prepaid by tv azteca without penalty during the last fifty years of the agreement .', 'the discount on the loan is being amortized to interest income 2014tv azteca , net , using the effective interest method over the seventy-year term of the loan .', 'simultaneous with the signing of the loan agreement , the company also entered into a seventy year economic rights agreement with tv azteca regarding space not used by tv azteca on approximately 190 of its broadcast towers .', 'in exchange for the issuance of the below market interest rate loan discussed above and the annual payment of $ 1.5 million to tv azteca ( under the economic rights agreement ) , the company has the right to market and lease the unused tower space on the broadcast towers ( the economic rights ) .', 'tv azteca retains title to these towers and is responsible for their operation and maintenance .', 'the company is entitled to 100% ( 100 % ) of the revenues generated from leases with tenants on the unused space and is responsible for any incremental operating expenses associated with those tenants. .']

**************************************** , 2005, 2004 acquired customer base and network location intangibles, $ 2606546, $ 1369607 deferred financing costs, 65623, 89736 acquired licenses and other intangibles, 51703, 43404 total, 2723872, 1502747 less accumulated amortization, -646560 ( 646560 ), -517444 ( 517444 ) other intangible assets net, $ 2077312, $ 985303 ****************************************

divide(646560, const_1000), add(#0, 183.6), add(#1, 178.3)

1008.46

what were the total 2005 and 2004 fair value hedge gains/ ( losses ) due to ineffectiveness , in us$ m?

Background: ['jpmorgan chase & co .', '/ 2005 annual report 123 litigation reserve the firm maintains litigation reserves for certain of its litigations , including its material legal proceedings .', 'while the outcome of litigation is inherently uncertain , management believes , in light of all information known to it at december 31 , 2005 , that the firm 2019s litigation reserves were adequate at such date .', 'management reviews litigation reserves periodically , and the reserves may be increased or decreased in the future to reflect further litigation devel- opments .', 'the firm believes it has meritorious defenses to claims asserted against it in its currently outstanding litigation and , with respect to such liti- gation , intends to continue to defend itself vigorously , litigating or settling cases according to management 2019s judgment as to what is in the best interest of stockholders .', 'note 26 2013 accounting for derivative instruments and hedging activities derivative instruments enable end users to increase , reduce or alter exposure to credit or market risks .', 'the value of a derivative is derived from its reference to an underlying variable or combination of variables such as equity , foreign exchange , credit , commodity or interest rate prices or indices .', 'jpmorgan chase makes markets in derivatives for customers and also is an end-user of derivatives in order to manage the firm 2019s exposure to credit and market risks .', 'sfas 133 , as amended by sfas 138 and sfas 149 , establishes accounting and reporting standards for derivative instruments , including those used for trading and hedging activities , and derivative instruments embedded in other contracts .', 'all free-standing derivatives , whether designated for hedging rela- tionships or not , are required to be recorded on the balance sheet at fair value .', 'the accounting for changes in value of a derivative depends on whether the contract is for trading purposes or has been designated and qualifies for hedge accounting .', 'the majority of the firm 2019s derivatives are entered into for trading purposes .', 'the firm also uses derivatives as an end user to hedge market exposures , modify the interest rate characteristics of related balance sheet instruments or meet longer-term investment objectives .', 'both trading and end-user derivatives are recorded at fair value in trading assets and trading liabilities as set forth in note 3 on page 94 of this annual report .', 'in order to qualify for hedge accounting , a derivative must be considered highly effective at reducing the risk associated with the exposure being hedged .', 'each derivative must be designated as a hedge , with documentation of the risk management objective and strategy , including identification of the hedging instrument , the hedged item and the risk exposure , and how effectiveness is to be assessed prospectively and retrospectively .', 'the extent to which a hedging instrument is effective at achieving offsetting changes in fair value or cash flows must be assessed at least quarterly .', 'any ineffectiveness must be reported in current-period earnings .', 'for qualifying fair value hedges , all changes in the fair value of the derivative and in the fair value of the item for the risk being hedged are recognized in earnings .', 'if the hedge relationship is terminated , then the fair value adjust- ment to the hedged item continues to be reported as part of the basis of the item and is amortized to earnings as a yield adjustment .', 'for qualifying cash flow hedges , the effective portion of the change in the fair value of the derivative is recorded in other comprehensive income and recognized in the income statement when the hedged cash flows affect earnings .', 'the ineffective portions of cash flow hedges are immediately recognized in earnings .', 'if the hedge relationship is terminated , then the change in fair value of the derivative recorded in other comprehensive income is recognized when the cash flows that were hedged occur , consistent with the original hedge strategy .', 'for hedge relationships discontinued because the forecasted transaction is not expected to occur according to the original strategy , any related derivative amounts recorded in other comprehensive income are immediately recognized in earnings .', 'for qualifying net investment hedges , changes in the fair value of the derivative or the revaluation of the foreign currency 2013denominated debt instrument are recorded in the translation adjustments account within other comprehensive income .', 'any ineffective portions of net investment hedges are immediately recognized in earnings .', 'jpmorgan chase 2019s fair value hedges primarily include hedges of fixed-rate long-term debt , loans , afs securities and msrs .', 'interest rate swaps are the most common type of derivative contract used to modify exposure to interest rate risk , converting fixed-rate assets and liabilities to a floating rate .', 'interest rate options , swaptions and forwards are also used in combination with interest rate swaps to hedge the fair value of the firm 2019s msrs .', 'for a further discussion of msr risk management activities , see note 15 on pages 114 2013116 of this annual report .', 'all amounts have been included in earnings consistent with the classification of the hedged item , primarily net interest income , mortgage fees and related income , and other income .', 'the firm did not recognize any gains or losses during 2005 on firm commitments that no longer qualify as fair value hedges .', 'jpmorgan chase also enters into derivative contracts to hedge exposure to variability in cash flows from floating-rate financial instruments and forecasted transactions , primarily the rollover of short-term assets and liabilities , and foreign currency-denominated revenues and expenses .', 'interest rate swaps , futures and forward contracts are the most common instruments used to reduce the impact of interest rate and foreign exchange rate changes on future earnings .', 'all amounts affecting earnings have been recognized consistent with the classification of the hedged item , primarily net interest income .', 'the firm uses forward foreign exchange contracts and foreign currency- denominated debt instruments to protect the value of net investments in foreign currencies in non-u.s .', 'subsidiaries .', 'the portion of the hedging instru- ments excluded from the assessment of hedge effectiveness ( forward points ) is recorded in net interest income .', 'the following table presents derivative instrument hedging-related activities for the periods indicated : year ended december 31 , ( in millions ) ( a ) 2005 2004 fair value hedge ineffective net gains/ ( losses ) ( b ) $ ( 58 ) $ 199 cash flow hedge ineffective net gains/ ( losses ) ( b ) ( 2 ) 2014 cash flow hedging gains on forecasted transactions that failed to occur 2014 1 ( a ) 2004 results include six months of the combined firm 2019s results and six months of heritage jpmorgan chase results .', '( b ) includes ineffectiveness and the components of hedging instruments that have been excluded from the assessment of hedge effectiveness .', 'over the next 12 months , it is expected that $ 44 million ( after-tax ) of net gains recorded in other comprehensive income at december 31 , 2005 , will be recognized in earnings .', 'the maximum length of time over which forecasted transactions are hedged is 10 years , and such transactions primarily relate to core lending and borrowing activities .', 'jpmorgan chase does not seek to apply hedge accounting to all of the firm 2019s economic hedges .', 'for example , the firm does not apply hedge accounting to standard credit derivatives used to manage the credit risk of loans and commitments because of the difficulties in qualifying such contracts as hedges under sfas 133 .', 'similarly , the firm does not apply hedge accounting to certain interest rate derivatives used as economic hedges. .'] #### Data Table: ---------------------------------------- year ended december 31 ( in millions ) ( a ) | 2005 | 2004 ----------|----------|---------- fair value hedge ineffective net gains/ ( losses ) ( b ) | $ -58 ( 58 ) | $ 199 cash flow hedge ineffective net gains/ ( losses ) ( b ) | -2 ( 2 ) | 2014 cash flow hedging gains on forecastedtransactions that failed to occur | 2014 | 1 ---------------------------------------- #### Follow-up: ['jpmorgan chase & co .', '/ 2005 annual report 123 litigation reserve the firm maintains litigation reserves for certain of its litigations , including its material legal proceedings .', 'while the outcome of litigation is inherently uncertain , management believes , in light of all information known to it at december 31 , 2005 , that the firm 2019s litigation reserves were adequate at such date .', 'management reviews litigation reserves periodically , and the reserves may be increased or decreased in the future to reflect further litigation devel- opments .', 'the firm believes it has meritorious defenses to claims asserted against it in its currently outstanding litigation and , with respect to such liti- gation , intends to continue to defend itself vigorously , litigating or settling cases according to management 2019s judgment as to what is in the best interest of stockholders .', 'note 26 2013 accounting for derivative instruments and hedging activities derivative instruments enable end users to increase , reduce or alter exposure to credit or market risks .', 'the value of a derivative is derived from its reference to an underlying variable or combination of variables such as equity , foreign exchange , credit , commodity or interest rate prices or indices .', 'jpmorgan chase makes markets in derivatives for customers and also is an end-user of derivatives in order to manage the firm 2019s exposure to credit and market risks .', 'sfas 133 , as amended by sfas 138 and sfas 149 , establishes accounting and reporting standards for derivative instruments , including those used for trading and hedging activities , and derivative instruments embedded in other contracts .', 'all free-standing derivatives , whether designated for hedging rela- tionships or not , are required to be recorded on the balance sheet at fair value .', 'the accounting for changes in value of a derivative depends on whether the contract is for trading purposes or has been designated and qualifies for hedge accounting .', 'the majority of the firm 2019s derivatives are entered into for trading purposes .', 'the firm also uses derivatives as an end user to hedge market exposures , modify the interest rate characteristics of related balance sheet instruments or meet longer-term investment objectives .', 'both trading and end-user derivatives are recorded at fair value in trading assets and trading liabilities as set forth in note 3 on page 94 of this annual report .', 'in order to qualify for hedge accounting , a derivative must be considered highly effective at reducing the risk associated with the exposure being hedged .', 'each derivative must be designated as a hedge , with documentation of the risk management objective and strategy , including identification of the hedging instrument , the hedged item and the risk exposure , and how effectiveness is to be assessed prospectively and retrospectively .', 'the extent to which a hedging instrument is effective at achieving offsetting changes in fair value or cash flows must be assessed at least quarterly .', 'any ineffectiveness must be reported in current-period earnings .', 'for qualifying fair value hedges , all changes in the fair value of the derivative and in the fair value of the item for the risk being hedged are recognized in earnings .', 'if the hedge relationship is terminated , then the fair value adjust- ment to the hedged item continues to be reported as part of the basis of the item and is amortized to earnings as a yield adjustment .', 'for qualifying cash flow hedges , the effective portion of the change in the fair value of the derivative is recorded in other comprehensive income and recognized in the income statement when the hedged cash flows affect earnings .', 'the ineffective portions of cash flow hedges are immediately recognized in earnings .', 'if the hedge relationship is terminated , then the change in fair value of the derivative recorded in other comprehensive income is recognized when the cash flows that were hedged occur , consistent with the original hedge strategy .', 'for hedge relationships discontinued because the forecasted transaction is not expected to occur according to the original strategy , any related derivative amounts recorded in other comprehensive income are immediately recognized in earnings .', 'for qualifying net investment hedges , changes in the fair value of the derivative or the revaluation of the foreign currency 2013denominated debt instrument are recorded in the translation adjustments account within other comprehensive income .', 'any ineffective portions of net investment hedges are immediately recognized in earnings .', 'jpmorgan chase 2019s fair value hedges primarily include hedges of fixed-rate long-term debt , loans , afs securities and msrs .', 'interest rate swaps are the most common type of derivative contract used to modify exposure to interest rate risk , converting fixed-rate assets and liabilities to a floating rate .', 'interest rate options , swaptions and forwards are also used in combination with interest rate swaps to hedge the fair value of the firm 2019s msrs .', 'for a further discussion of msr risk management activities , see note 15 on pages 114 2013116 of this annual report .', 'all amounts have been included in earnings consistent with the classification of the hedged item , primarily net interest income , mortgage fees and related income , and other income .', 'the firm did not recognize any gains or losses during 2005 on firm commitments that no longer qualify as fair value hedges .', 'jpmorgan chase also enters into derivative contracts to hedge exposure to variability in cash flows from floating-rate financial instruments and forecasted transactions , primarily the rollover of short-term assets and liabilities , and foreign currency-denominated revenues and expenses .', 'interest rate swaps , futures and forward contracts are the most common instruments used to reduce the impact of interest rate and foreign exchange rate changes on future earnings .', 'all amounts affecting earnings have been recognized consistent with the classification of the hedged item , primarily net interest income .', 'the firm uses forward foreign exchange contracts and foreign currency- denominated debt instruments to protect the value of net investments in foreign currencies in non-u.s .', 'subsidiaries .', 'the portion of the hedging instru- ments excluded from the assessment of hedge effectiveness ( forward points ) is recorded in net interest income .', 'the following table presents derivative instrument hedging-related activities for the periods indicated : year ended december 31 , ( in millions ) ( a ) 2005 2004 fair value hedge ineffective net gains/ ( losses ) ( b ) $ ( 58 ) $ 199 cash flow hedge ineffective net gains/ ( losses ) ( b ) ( 2 ) 2014 cash flow hedging gains on forecasted transactions that failed to occur 2014 1 ( a ) 2004 results include six months of the combined firm 2019s results and six months of heritage jpmorgan chase results .', '( b ) includes ineffectiveness and the components of hedging instruments that have been excluded from the assessment of hedge effectiveness .', 'over the next 12 months , it is expected that $ 44 million ( after-tax ) of net gains recorded in other comprehensive income at december 31 , 2005 , will be recognized in earnings .', 'the maximum length of time over which forecasted transactions are hedged is 10 years , and such transactions primarily relate to core lending and borrowing activities .', 'jpmorgan chase does not seek to apply hedge accounting to all of the firm 2019s economic hedges .', 'for example , the firm does not apply hedge accounting to standard credit derivatives used to manage the credit risk of loans and commitments because of the difficulties in qualifying such contracts as hedges under sfas 133 .', 'similarly , the firm does not apply hedge accounting to certain interest rate derivatives used as economic hedges. .']

141.0

JPM/2005/page_125.pdf-2

['jpmorgan chase & co .', '/ 2005 annual report 123 litigation reserve the firm maintains litigation reserves for certain of its litigations , including its material legal proceedings .', 'while the outcome of litigation is inherently uncertain , management believes , in light of all information known to it at december 31 , 2005 , that the firm 2019s litigation reserves were adequate at such date .', 'management reviews litigation reserves periodically , and the reserves may be increased or decreased in the future to reflect further litigation devel- opments .', 'the firm believes it has meritorious defenses to claims asserted against it in its currently outstanding litigation and , with respect to such liti- gation , intends to continue to defend itself vigorously , litigating or settling cases according to management 2019s judgment as to what is in the best interest of stockholders .', 'note 26 2013 accounting for derivative instruments and hedging activities derivative instruments enable end users to increase , reduce or alter exposure to credit or market risks .', 'the value of a derivative is derived from its reference to an underlying variable or combination of variables such as equity , foreign exchange , credit , commodity or interest rate prices or indices .', 'jpmorgan chase makes markets in derivatives for customers and also is an end-user of derivatives in order to manage the firm 2019s exposure to credit and market risks .', 'sfas 133 , as amended by sfas 138 and sfas 149 , establishes accounting and reporting standards for derivative instruments , including those used for trading and hedging activities , and derivative instruments embedded in other contracts .', 'all free-standing derivatives , whether designated for hedging rela- tionships or not , are required to be recorded on the balance sheet at fair value .', 'the accounting for changes in value of a derivative depends on whether the contract is for trading purposes or has been designated and qualifies for hedge accounting .', 'the majority of the firm 2019s derivatives are entered into for trading purposes .', 'the firm also uses derivatives as an end user to hedge market exposures , modify the interest rate characteristics of related balance sheet instruments or meet longer-term investment objectives .', 'both trading and end-user derivatives are recorded at fair value in trading assets and trading liabilities as set forth in note 3 on page 94 of this annual report .', 'in order to qualify for hedge accounting , a derivative must be considered highly effective at reducing the risk associated with the exposure being hedged .', 'each derivative must be designated as a hedge , with documentation of the risk management objective and strategy , including identification of the hedging instrument , the hedged item and the risk exposure , and how effectiveness is to be assessed prospectively and retrospectively .', 'the extent to which a hedging instrument is effective at achieving offsetting changes in fair value or cash flows must be assessed at least quarterly .', 'any ineffectiveness must be reported in current-period earnings .', 'for qualifying fair value hedges , all changes in the fair value of the derivative and in the fair value of the item for the risk being hedged are recognized in earnings .', 'if the hedge relationship is terminated , then the fair value adjust- ment to the hedged item continues to be reported as part of the basis of the item and is amortized to earnings as a yield adjustment .', 'for qualifying cash flow hedges , the effective portion of the change in the fair value of the derivative is recorded in other comprehensive income and recognized in the income statement when the hedged cash flows affect earnings .', 'the ineffective portions of cash flow hedges are immediately recognized in earnings .', 'if the hedge relationship is terminated , then the change in fair value of the derivative recorded in other comprehensive income is recognized when the cash flows that were hedged occur , consistent with the original hedge strategy .', 'for hedge relationships discontinued because the forecasted transaction is not expected to occur according to the original strategy , any related derivative amounts recorded in other comprehensive income are immediately recognized in earnings .', 'for qualifying net investment hedges , changes in the fair value of the derivative or the revaluation of the foreign currency 2013denominated debt instrument are recorded in the translation adjustments account within other comprehensive income .', 'any ineffective portions of net investment hedges are immediately recognized in earnings .', 'jpmorgan chase 2019s fair value hedges primarily include hedges of fixed-rate long-term debt , loans , afs securities and msrs .', 'interest rate swaps are the most common type of derivative contract used to modify exposure to interest rate risk , converting fixed-rate assets and liabilities to a floating rate .', 'interest rate options , swaptions and forwards are also used in combination with interest rate swaps to hedge the fair value of the firm 2019s msrs .', 'for a further discussion of msr risk management activities , see note 15 on pages 114 2013116 of this annual report .', 'all amounts have been included in earnings consistent with the classification of the hedged item , primarily net interest income , mortgage fees and related income , and other income .', 'the firm did not recognize any gains or losses during 2005 on firm commitments that no longer qualify as fair value hedges .', 'jpmorgan chase also enters into derivative contracts to hedge exposure to variability in cash flows from floating-rate financial instruments and forecasted transactions , primarily the rollover of short-term assets and liabilities , and foreign currency-denominated revenues and expenses .', 'interest rate swaps , futures and forward contracts are the most common instruments used to reduce the impact of interest rate and foreign exchange rate changes on future earnings .', 'all amounts affecting earnings have been recognized consistent with the classification of the hedged item , primarily net interest income .', 'the firm uses forward foreign exchange contracts and foreign currency- denominated debt instruments to protect the value of net investments in foreign currencies in non-u.s .', 'subsidiaries .', 'the portion of the hedging instru- ments excluded from the assessment of hedge effectiveness ( forward points ) is recorded in net interest income .', 'the following table presents derivative instrument hedging-related activities for the periods indicated : year ended december 31 , ( in millions ) ( a ) 2005 2004 fair value hedge ineffective net gains/ ( losses ) ( b ) $ ( 58 ) $ 199 cash flow hedge ineffective net gains/ ( losses ) ( b ) ( 2 ) 2014 cash flow hedging gains on forecasted transactions that failed to occur 2014 1 ( a ) 2004 results include six months of the combined firm 2019s results and six months of heritage jpmorgan chase results .', '( b ) includes ineffectiveness and the components of hedging instruments that have been excluded from the assessment of hedge effectiveness .', 'over the next 12 months , it is expected that $ 44 million ( after-tax ) of net gains recorded in other comprehensive income at december 31 , 2005 , will be recognized in earnings .', 'the maximum length of time over which forecasted transactions are hedged is 10 years , and such transactions primarily relate to core lending and borrowing activities .', 'jpmorgan chase does not seek to apply hedge accounting to all of the firm 2019s economic hedges .', 'for example , the firm does not apply hedge accounting to standard credit derivatives used to manage the credit risk of loans and commitments because of the difficulties in qualifying such contracts as hedges under sfas 133 .', 'similarly , the firm does not apply hedge accounting to certain interest rate derivatives used as economic hedges. .']

['jpmorgan chase & co .', '/ 2005 annual report 123 litigation reserve the firm maintains litigation reserves for certain of its litigations , including its material legal proceedings .', 'while the outcome of litigation is inherently uncertain , management believes , in light of all information known to it at december 31 , 2005 , that the firm 2019s litigation reserves were adequate at such date .', 'management reviews litigation reserves periodically , and the reserves may be increased or decreased in the future to reflect further litigation devel- opments .', 'the firm believes it has meritorious defenses to claims asserted against it in its currently outstanding litigation and , with respect to such liti- gation , intends to continue to defend itself vigorously , litigating or settling cases according to management 2019s judgment as to what is in the best interest of stockholders .', 'note 26 2013 accounting for derivative instruments and hedging activities derivative instruments enable end users to increase , reduce or alter exposure to credit or market risks .', 'the value of a derivative is derived from its reference to an underlying variable or combination of variables such as equity , foreign exchange , credit , commodity or interest rate prices or indices .', 'jpmorgan chase makes markets in derivatives for customers and also is an end-user of derivatives in order to manage the firm 2019s exposure to credit and market risks .', 'sfas 133 , as amended by sfas 138 and sfas 149 , establishes accounting and reporting standards for derivative instruments , including those used for trading and hedging activities , and derivative instruments embedded in other contracts .', 'all free-standing derivatives , whether designated for hedging rela- tionships or not , are required to be recorded on the balance sheet at fair value .', 'the accounting for changes in value of a derivative depends on whether the contract is for trading purposes or has been designated and qualifies for hedge accounting .', 'the majority of the firm 2019s derivatives are entered into for trading purposes .', 'the firm also uses derivatives as an end user to hedge market exposures , modify the interest rate characteristics of related balance sheet instruments or meet longer-term investment objectives .', 'both trading and end-user derivatives are recorded at fair value in trading assets and trading liabilities as set forth in note 3 on page 94 of this annual report .', 'in order to qualify for hedge accounting , a derivative must be considered highly effective at reducing the risk associated with the exposure being hedged .', 'each derivative must be designated as a hedge , with documentation of the risk management objective and strategy , including identification of the hedging instrument , the hedged item and the risk exposure , and how effectiveness is to be assessed prospectively and retrospectively .', 'the extent to which a hedging instrument is effective at achieving offsetting changes in fair value or cash flows must be assessed at least quarterly .', 'any ineffectiveness must be reported in current-period earnings .', 'for qualifying fair value hedges , all changes in the fair value of the derivative and in the fair value of the item for the risk being hedged are recognized in earnings .', 'if the hedge relationship is terminated , then the fair value adjust- ment to the hedged item continues to be reported as part of the basis of the item and is amortized to earnings as a yield adjustment .', 'for qualifying cash flow hedges , the effective portion of the change in the fair value of the derivative is recorded in other comprehensive income and recognized in the income statement when the hedged cash flows affect earnings .', 'the ineffective portions of cash flow hedges are immediately recognized in earnings .', 'if the hedge relationship is terminated , then the change in fair value of the derivative recorded in other comprehensive income is recognized when the cash flows that were hedged occur , consistent with the original hedge strategy .', 'for hedge relationships discontinued because the forecasted transaction is not expected to occur according to the original strategy , any related derivative amounts recorded in other comprehensive income are immediately recognized in earnings .', 'for qualifying net investment hedges , changes in the fair value of the derivative or the revaluation of the foreign currency 2013denominated debt instrument are recorded in the translation adjustments account within other comprehensive income .', 'any ineffective portions of net investment hedges are immediately recognized in earnings .', 'jpmorgan chase 2019s fair value hedges primarily include hedges of fixed-rate long-term debt , loans , afs securities and msrs .', 'interest rate swaps are the most common type of derivative contract used to modify exposure to interest rate risk , converting fixed-rate assets and liabilities to a floating rate .', 'interest rate options , swaptions and forwards are also used in combination with interest rate swaps to hedge the fair value of the firm 2019s msrs .', 'for a further discussion of msr risk management activities , see note 15 on pages 114 2013116 of this annual report .', 'all amounts have been included in earnings consistent with the classification of the hedged item , primarily net interest income , mortgage fees and related income , and other income .', 'the firm did not recognize any gains or losses during 2005 on firm commitments that no longer qualify as fair value hedges .', 'jpmorgan chase also enters into derivative contracts to hedge exposure to variability in cash flows from floating-rate financial instruments and forecasted transactions , primarily the rollover of short-term assets and liabilities , and foreign currency-denominated revenues and expenses .', 'interest rate swaps , futures and forward contracts are the most common instruments used to reduce the impact of interest rate and foreign exchange rate changes on future earnings .', 'all amounts affecting earnings have been recognized consistent with the classification of the hedged item , primarily net interest income .', 'the firm uses forward foreign exchange contracts and foreign currency- denominated debt instruments to protect the value of net investments in foreign currencies in non-u.s .', 'subsidiaries .', 'the portion of the hedging instru- ments excluded from the assessment of hedge effectiveness ( forward points ) is recorded in net interest income .', 'the following table presents derivative instrument hedging-related activities for the periods indicated : year ended december 31 , ( in millions ) ( a ) 2005 2004 fair value hedge ineffective net gains/ ( losses ) ( b ) $ ( 58 ) $ 199 cash flow hedge ineffective net gains/ ( losses ) ( b ) ( 2 ) 2014 cash flow hedging gains on forecasted transactions that failed to occur 2014 1 ( a ) 2004 results include six months of the combined firm 2019s results and six months of heritage jpmorgan chase results .', '( b ) includes ineffectiveness and the components of hedging instruments that have been excluded from the assessment of hedge effectiveness .', 'over the next 12 months , it is expected that $ 44 million ( after-tax ) of net gains recorded in other comprehensive income at december 31 , 2005 , will be recognized in earnings .', 'the maximum length of time over which forecasted transactions are hedged is 10 years , and such transactions primarily relate to core lending and borrowing activities .', 'jpmorgan chase does not seek to apply hedge accounting to all of the firm 2019s economic hedges .', 'for example , the firm does not apply hedge accounting to standard credit derivatives used to manage the credit risk of loans and commitments because of the difficulties in qualifying such contracts as hedges under sfas 133 .', 'similarly , the firm does not apply hedge accounting to certain interest rate derivatives used as economic hedges. .']

---------------------------------------- year ended december 31 ( in millions ) ( a ) | 2005 | 2004 ----------|----------|---------- fair value hedge ineffective net gains/ ( losses ) ( b ) | $ -58 ( 58 ) | $ 199 cash flow hedge ineffective net gains/ ( losses ) ( b ) | -2 ( 2 ) | 2014 cash flow hedging gains on forecastedtransactions that failed to occur | 2014 | 1 ----------------------------------------

add(-58, 199)

141.0

what is the lowest return for the first month of the investment?

Context: ['stock performance graph * $ 100 invested on 11/17/11 in our stock or 10/31/11 in the relevant index , including reinvestment of dividends .', 'fiscal year ending december 31 , 2014 .', '( 1 ) delphi automotive plc ( 2 ) s&p 500 2013 standard & poor 2019s 500 total return index ( 3 ) automotive supplier peer group 2013 russell 3000 auto parts index , including american axle & manufacturing , borgwarner inc. , cooper tire & rubber company , dana holding corp. , delphi automotive plc , dorman products inc. , federal-mogul corp. , ford motor co. , fuel systems solutions inc. , general motors co. , gentex corp. , gentherm inc. , genuine parts co. , johnson controls inc. , lkq corp. , lear corp. , meritor inc. , remy international inc. , standard motor products inc. , stoneridge inc. , superior industries international , trw automotive holdings corp. , tenneco inc. , tesla motors inc. , the goodyear tire & rubber co. , tower international inc. , visteon corp. , and wabco holdings inc .', 'company index november 17 , december 31 , december 31 , december 31 , december 31 .'] -- Tabular Data: ======================================== Row 1: company index, november 17 2011, december 31 2011, december 31 2012, december 31 2013, december 31 2014 Row 2: delphi automotive plc ( 1 ), $ 100.00, $ 100.98, $ 179.33, $ 285.81, $ 350.82 Row 3: s&p 500 ( 2 ), 100.00, 100.80, 116.93, 154.80, 175.99 Row 4: automotive supplier peer group ( 3 ), 100.00, 89.27, 110.41, 166.46, 178.05 ======================================== -- Additional Information: ["dividends on february 26 , 2013 , the board of directors approved the initiation of dividend payments on the company's ordinary shares .", 'the board of directors declared a regular quarterly cash dividend of $ 0.17 per ordinary share that was paid in each quarter of 2013 .', 'in january 2014 , the board of directors increased the quarterly dividend rate to $ 0.25 per ordinary share , which was paid in each quarter of 2014 .', 'in addition , in january 2015 , the board of directors declared a regular quarterly cash dividend of $ 0.25 per ordinary share , payable on february 27 , 2015 to shareholders of record at the close of business on february 18 , 2015. .']

-10.73

APTV/2014/page_49.pdf-1

['stock performance graph * $ 100 invested on 11/17/11 in our stock or 10/31/11 in the relevant index , including reinvestment of dividends .', 'fiscal year ending december 31 , 2014 .', '( 1 ) delphi automotive plc ( 2 ) s&p 500 2013 standard & poor 2019s 500 total return index ( 3 ) automotive supplier peer group 2013 russell 3000 auto parts index , including american axle & manufacturing , borgwarner inc. , cooper tire & rubber company , dana holding corp. , delphi automotive plc , dorman products inc. , federal-mogul corp. , ford motor co. , fuel systems solutions inc. , general motors co. , gentex corp. , gentherm inc. , genuine parts co. , johnson controls inc. , lkq corp. , lear corp. , meritor inc. , remy international inc. , standard motor products inc. , stoneridge inc. , superior industries international , trw automotive holdings corp. , tenneco inc. , tesla motors inc. , the goodyear tire & rubber co. , tower international inc. , visteon corp. , and wabco holdings inc .', 'company index november 17 , december 31 , december 31 , december 31 , december 31 .']

["dividends on february 26 , 2013 , the board of directors approved the initiation of dividend payments on the company's ordinary shares .", 'the board of directors declared a regular quarterly cash dividend of $ 0.17 per ordinary share that was paid in each quarter of 2013 .', 'in january 2014 , the board of directors increased the quarterly dividend rate to $ 0.25 per ordinary share , which was paid in each quarter of 2014 .', 'in addition , in january 2015 , the board of directors declared a regular quarterly cash dividend of $ 0.25 per ordinary share , payable on february 27 , 2015 to shareholders of record at the close of business on february 18 , 2015. .']

======================================== Row 1: company index, november 17 2011, december 31 2011, december 31 2012, december 31 2013, december 31 2014 Row 2: delphi automotive plc ( 1 ), $ 100.00, $ 100.98, $ 179.33, $ 285.81, $ 350.82 Row 3: s&p 500 ( 2 ), 100.00, 100.80, 116.93, 154.80, 175.99 Row 4: automotive supplier peer group ( 3 ), 100.00, 89.27, 110.41, 166.46, 178.05 ========================================

subtract(89.27, const_100)

-10.73

in 2018 , what percentage of cash flows used in investing activities composed of acquisitions?

Pre-text: ['in 2017 , cash flows provided by operations increased $ 160 million , primarily due to an increase in net income after non-cash adjustments , including the impact of the enactment of the tcja , and an increase in cash flows from working capital .', 'the main factors contributing to the net income increase are described in the 201cconsolidated results of operations 201d section and include higher operating revenues , partially offset by higher income taxes due to a $ 125 million re-measurement charge resulting from the impact of the change in the federal tax rate on the company 2019s deferred income taxes from the enactment of the tcja .', 'the increase in non-cash activities was mainly attributable to the increase in deferred income taxes , as mentioned above , and an increase in depreciation and amortization due to additional utility plant placed in service .', 'the change in working capital was principally due to ( i ) the timing of accounts payable and accrued liabilities , including the accrual recorded during 2016 for the binding global agreement in principle to settle claims associated with the freedom industries chemical spill in west virginia , ( ii ) a decrease in unbilled revenues as a result of our military services group achieving significant capital project milestones during 2016 , and ( iii ) a change in other current assets and liabilities , including the decrease in other current assets associated with the termination of our four forward starting swap agreements and timing of payments clearing our cash accounts .', 'the company expects to make pension contributions to the plan trusts of up to $ 31 million in 2019 .', 'in addition , we estimate that contributions will amount to $ 32 million , $ 29 million , $ 29 million and $ 29 million in 2020 , 2021 , 2022 and 2023 , respectively .', 'actual amounts contributed could change materially from these estimates as a result of changes in assumptions and actual investment returns , among other factors .', 'cash flows used in investing activities the following table provides a summary of the major items affecting our cash flows used in investing activities: .'] ########## Data Table: • ( in millions ), for the years ended december 31 , 2018, for the years ended december 31 , 2017, for the years ended december 31 , 2016 • net capital expenditures, $ -1586 ( 1586 ), $ -1434 ( 1434 ), $ -1311 ( 1311 ) • acquisitions, -398 ( 398 ), -177 ( 177 ), -204 ( 204 ) • other investing activities net ( a ), -52 ( 52 ), -61 ( 61 ), -75 ( 75 ) • net cash flows used in investing activities, $ -2036 ( 2036 ), $ -1672 ( 1672 ), $ -1590 ( 1590 ) ########## Follow-up: ['( a ) includes removal costs from property , plant and equipment retirements and proceeds from sale of assets .', 'in 2018 and 2017 , cash flows used in investing activities increased primarily due to an increase in our regulated capital expenditures , principally from incremental investments associated with the replacement and renewal of our transmission and distribution infrastructure in our regulated businesses , as well as acquisitions in both our regulated businesses and market-based businesses , as discussed below .', 'our infrastructure investment plan consists of both infrastructure renewal programs , where we replace infrastructure , as needed , and major capital investment projects , where we construct new water and wastewater treatment and delivery facilities to meet new customer growth and water quality regulations .', 'our projected capital expenditures and other investments are subject to periodic review and revision to reflect changes in economic conditions and other factors. .']

0.19548

AWK/2018/page_97.pdf-4

['in 2017 , cash flows provided by operations increased $ 160 million , primarily due to an increase in net income after non-cash adjustments , including the impact of the enactment of the tcja , and an increase in cash flows from working capital .', 'the main factors contributing to the net income increase are described in the 201cconsolidated results of operations 201d section and include higher operating revenues , partially offset by higher income taxes due to a $ 125 million re-measurement charge resulting from the impact of the change in the federal tax rate on the company 2019s deferred income taxes from the enactment of the tcja .', 'the increase in non-cash activities was mainly attributable to the increase in deferred income taxes , as mentioned above , and an increase in depreciation and amortization due to additional utility plant placed in service .', 'the change in working capital was principally due to ( i ) the timing of accounts payable and accrued liabilities , including the accrual recorded during 2016 for the binding global agreement in principle to settle claims associated with the freedom industries chemical spill in west virginia , ( ii ) a decrease in unbilled revenues as a result of our military services group achieving significant capital project milestones during 2016 , and ( iii ) a change in other current assets and liabilities , including the decrease in other current assets associated with the termination of our four forward starting swap agreements and timing of payments clearing our cash accounts .', 'the company expects to make pension contributions to the plan trusts of up to $ 31 million in 2019 .', 'in addition , we estimate that contributions will amount to $ 32 million , $ 29 million , $ 29 million and $ 29 million in 2020 , 2021 , 2022 and 2023 , respectively .', 'actual amounts contributed could change materially from these estimates as a result of changes in assumptions and actual investment returns , among other factors .', 'cash flows used in investing activities the following table provides a summary of the major items affecting our cash flows used in investing activities: .']

['( a ) includes removal costs from property , plant and equipment retirements and proceeds from sale of assets .', 'in 2018 and 2017 , cash flows used in investing activities increased primarily due to an increase in our regulated capital expenditures , principally from incremental investments associated with the replacement and renewal of our transmission and distribution infrastructure in our regulated businesses , as well as acquisitions in both our regulated businesses and market-based businesses , as discussed below .', 'our infrastructure investment plan consists of both infrastructure renewal programs , where we replace infrastructure , as needed , and major capital investment projects , where we construct new water and wastewater treatment and delivery facilities to meet new customer growth and water quality regulations .', 'our projected capital expenditures and other investments are subject to periodic review and revision to reflect changes in economic conditions and other factors. .']

• ( in millions ), for the years ended december 31 , 2018, for the years ended december 31 , 2017, for the years ended december 31 , 2016 • net capital expenditures, $ -1586 ( 1586 ), $ -1434 ( 1434 ), $ -1311 ( 1311 ) • acquisitions, -398 ( 398 ), -177 ( 177 ), -204 ( 204 ) • other investing activities net ( a ), -52 ( 52 ), -61 ( 61 ), -75 ( 75 ) • net cash flows used in investing activities, $ -2036 ( 2036 ), $ -1672 ( 1672 ), $ -1590 ( 1590 )

divide(398, 2036)

0.19548

what is the percentage change in capitalized interest from 2017 to 2018?

Context: ['future capital commitments future capital commitments consist of contracted commitments , including ship construction contracts , and future expected capital expenditures necessary for operations as well as our ship refurbishment projects .', 'as of december 31 , 2018 , anticipated capital expenditures were $ 1.6 billion , $ 1.2 billion and $ 0.7 billion for the years ending december 31 , 2019 , 2020 and 2021 , respectively .', 'we have export credit financing in place for the anticipated expenditures related to ship construction contracts of $ 0.6 billion , $ 0.5 billion and $ 0.2 billion for the years ending december 31 , 2019 , 2020 and 2021 , respectively .', 'these future expected capital expenditures will significantly increase our depreciation and amortization expense as we take delivery of the ships .', 'project leonardo will introduce an additional six ships , each approximately 140000 gross tons with approximately 3300 berths , with expected delivery dates from 2022 through 2027 , subject to certain conditions .', 'we have a breakaway plus class ship , norwegian encore , with approximately 168000 gross tons with 4000 berths , on order for delivery in the fall of 2019 .', 'for the regent brand , we have orders for two explorer class ships , seven seas splendor and an additional ship , to be delivered in 2020 and 2023 , respectively .', 'each of the explorer class ships will be approximately 55000 gross tons and 750 berths .', 'for the oceania cruises brand , we have orders for two allura class ships to be delivered in 2022 and 2025 .', 'each of the allura class ships will be approximately 67000 gross tons and 1200 berths .', 'the combined contract prices of the 11 ships on order for delivery was approximately 20ac7.9 billion , or $ 9.1 billion based on the euro/u.s .', 'dollar exchange rate as of december 31 , 2018 .', 'we have obtained export credit financing which is expected to fund approximately 80% ( 80 % ) of the contract price of each ship , subject to certain conditions .', 'we do not anticipate any contractual breaches or cancellations to occur .', 'however , if any such events were to occur , it could result in , among other things , the forfeiture of prior deposits or payments made by us and potential claims and impairment losses which may materially impact our business , financial condition and results of operations .', 'capitalized interest for the years ended december 31 , 2018 , 2017 and 2016 was $ 30.4 million , $ 29.0 million and $ 33.7 million , respectively , primarily associated with the construction of our newbuild ships .', 'off-balance sheet transactions contractual obligations as of december 31 , 2018 , our contractual obligations with initial or remaining terms in excess of one year , including interest payments on long-term debt obligations , were as follows ( in thousands ) : less than 1 year 1-3 years 3-5 years more than 5 years .'] Data Table: ---------------------------------------- Row 1: , total, less than1 year, 1-3 years, 3-5 years, more than5 years Row 2: long-term debt ( 1 ), $ 6609866, $ 681218, $ 3232177, $ 929088, $ 1767383 Row 3: operating leases ( 2 ), 128550, 16651, 31420, 27853, 52626 Row 4: ship construction contracts ( 3 ), 5141441, 912858, 662687, 1976223, 1589673 Row 5: port facilities ( 4 ), 1738036, 62388, 151682, 157330, 1366636 Row 6: interest ( 5 ), 974444, 222427, 404380, 165172, 182465 Row 7: other ( 6 ), 1381518, 248107, 433161, 354454, 345796 Row 8: total ( 7 ), $ 15973855, $ 2143649, $ 4915507, $ 3610120, $ 5304579 ---------------------------------------- Post-table: ['( 1 ) long-term debt includes discount and premiums aggregating $ 0.4 million and capital leases .', 'long-term debt excludes deferred financing fees which are a direct deduction from the carrying value of the related debt liability in the consolidated balance sheets .', '( 2 ) operating leases are primarily for offices , motor vehicles and office equipment .', '( 3 ) ship construction contracts are for our newbuild ships based on the euro/u.s .', 'dollar exchange rate as of december 31 , 2018 .', 'export credit financing is in place from syndicates of banks .', 'the amount does not include the two project leonardo ships , one explorer class ship and two allura class ships which were still subject to financing and certain italian government approvals as of december 31 , 2018 .', 'we refer you to note 17 2014 201csubsequent events 201d in the notes to consolidated financial statements for details regarding the financing for certain ships .', '( 4 ) port facilities are for our usage of certain port facilities .', '( 5 ) interest includes fixed and variable rates with libor held constant as of december 31 , 2018 .', '( 6 ) other includes future commitments for service , maintenance and other business enhancement capital expenditure contracts .', '( 7 ) total excludes $ 0.5 million of unrecognized tax benefits as of december 31 , 2018 , because an estimate of the timing of future tax settlements cannot be reasonably determined. .']

0.04828

NCLH/2018/page_64.pdf-1

['future capital commitments future capital commitments consist of contracted commitments , including ship construction contracts , and future expected capital expenditures necessary for operations as well as our ship refurbishment projects .', 'as of december 31 , 2018 , anticipated capital expenditures were $ 1.6 billion , $ 1.2 billion and $ 0.7 billion for the years ending december 31 , 2019 , 2020 and 2021 , respectively .', 'we have export credit financing in place for the anticipated expenditures related to ship construction contracts of $ 0.6 billion , $ 0.5 billion and $ 0.2 billion for the years ending december 31 , 2019 , 2020 and 2021 , respectively .', 'these future expected capital expenditures will significantly increase our depreciation and amortization expense as we take delivery of the ships .', 'project leonardo will introduce an additional six ships , each approximately 140000 gross tons with approximately 3300 berths , with expected delivery dates from 2022 through 2027 , subject to certain conditions .', 'we have a breakaway plus class ship , norwegian encore , with approximately 168000 gross tons with 4000 berths , on order for delivery in the fall of 2019 .', 'for the regent brand , we have orders for two explorer class ships , seven seas splendor and an additional ship , to be delivered in 2020 and 2023 , respectively .', 'each of the explorer class ships will be approximately 55000 gross tons and 750 berths .', 'for the oceania cruises brand , we have orders for two allura class ships to be delivered in 2022 and 2025 .', 'each of the allura class ships will be approximately 67000 gross tons and 1200 berths .', 'the combined contract prices of the 11 ships on order for delivery was approximately 20ac7.9 billion , or $ 9.1 billion based on the euro/u.s .', 'dollar exchange rate as of december 31 , 2018 .', 'we have obtained export credit financing which is expected to fund approximately 80% ( 80 % ) of the contract price of each ship , subject to certain conditions .', 'we do not anticipate any contractual breaches or cancellations to occur .', 'however , if any such events were to occur , it could result in , among other things , the forfeiture of prior deposits or payments made by us and potential claims and impairment losses which may materially impact our business , financial condition and results of operations .', 'capitalized interest for the years ended december 31 , 2018 , 2017 and 2016 was $ 30.4 million , $ 29.0 million and $ 33.7 million , respectively , primarily associated with the construction of our newbuild ships .', 'off-balance sheet transactions contractual obligations as of december 31 , 2018 , our contractual obligations with initial or remaining terms in excess of one year , including interest payments on long-term debt obligations , were as follows ( in thousands ) : less than 1 year 1-3 years 3-5 years more than 5 years .']

['( 1 ) long-term debt includes discount and premiums aggregating $ 0.4 million and capital leases .', 'long-term debt excludes deferred financing fees which are a direct deduction from the carrying value of the related debt liability in the consolidated balance sheets .', '( 2 ) operating leases are primarily for offices , motor vehicles and office equipment .', '( 3 ) ship construction contracts are for our newbuild ships based on the euro/u.s .', 'dollar exchange rate as of december 31 , 2018 .', 'export credit financing is in place from syndicates of banks .', 'the amount does not include the two project leonardo ships , one explorer class ship and two allura class ships which were still subject to financing and certain italian government approvals as of december 31 , 2018 .', 'we refer you to note 17 2014 201csubsequent events 201d in the notes to consolidated financial statements for details regarding the financing for certain ships .', '( 4 ) port facilities are for our usage of certain port facilities .', '( 5 ) interest includes fixed and variable rates with libor held constant as of december 31 , 2018 .', '( 6 ) other includes future commitments for service , maintenance and other business enhancement capital expenditure contracts .', '( 7 ) total excludes $ 0.5 million of unrecognized tax benefits as of december 31 , 2018 , because an estimate of the timing of future tax settlements cannot be reasonably determined. .']

---------------------------------------- Row 1: , total, less than1 year, 1-3 years, 3-5 years, more than5 years Row 2: long-term debt ( 1 ), $ 6609866, $ 681218, $ 3232177, $ 929088, $ 1767383 Row 3: operating leases ( 2 ), 128550, 16651, 31420, 27853, 52626 Row 4: ship construction contracts ( 3 ), 5141441, 912858, 662687, 1976223, 1589673 Row 5: port facilities ( 4 ), 1738036, 62388, 151682, 157330, 1366636 Row 6: interest ( 5 ), 974444, 222427, 404380, 165172, 182465 Row 7: other ( 6 ), 1381518, 248107, 433161, 354454, 345796 Row 8: total ( 7 ), $ 15973855, $ 2143649, $ 4915507, $ 3610120, $ 5304579 ----------------------------------------

subtract(30.4, 29.0), divide(#0, 29.0)

0.04828

based on the review of the liquidity and capital resources what was the ratio of the cash and equivalents in 2016 compared to 2015

Background: ['liquidity and capital resources the following table summarizes liquidity data as of the dates indicated ( in thousands ) : december 31 , december 31 .'] ------ Table: • , december 31 2016, december 31 2015 • cash and equivalents, $ 227400, $ 87397 • total debt ( 1 ), 3365687, 1599695 • current maturities ( 2 ), 68414, 57494 • capacity under credit facilities ( 3 ), 2550000, 1947000 • availability under credit facilities ( 3 ), 1019112, 1337653 • total liquidity ( cash and equivalents plus availability on credit facilities ), 1246512, 1425050 ------ Additional Information: ['total debt ( 1 ) 3365687 1599695 current maturities ( 2 ) 68414 57494 capacity under credit facilities ( 3 ) 2550000 1947000 availability under credit facilities ( 3 ) 1019112 1337653 total liquidity ( cash and equivalents plus availability on credit facilities ) 1246512 1425050 ( 1 ) debt amounts reflect the gross values to be repaid ( excluding debt issuance costs of $ 23.9 million and $ 15.0 million as of december 31 , 2016 and 2015 , respectively ) .', '( 2 ) debt amounts reflect the gross values to be repaid ( excluding debt issuance costs of $ 2.3 million and $ 1.5 million as of december 31 , 2016 and 2015 , respectively ) .', '( 3 ) includes our revolving credit facilities , our receivables securitization facility , and letters of credit .', 'we assess our liquidity in terms of our ability to fund our operations and provide for expansion through both internal development and acquisitions .', 'our primary sources of liquidity are cash flows from operations and our credit facilities .', 'we utilize our cash flows from operations to fund working capital and capital expenditures , with the excess amounts going towards funding acquisitions or paying down outstanding debt .', 'as we have pursued acquisitions as part of our growth strategy , our cash flows from operations have not always been sufficient to cover our investing activities .', 'to fund our acquisitions , we have accessed various forms of debt financing , including revolving credit facilities , senior notes , and a receivables securitization facility .', 'as of december 31 , 2016 , we had debt outstanding and additional available sources of financing , as follows : 2022 senior secured credit facilities maturing in january 2021 , composed of term loans totaling $ 750 million ( $ 732.7 million outstanding at december 31 , 2016 ) and $ 2.45 billion in revolving credit ( $ 1.36 billion outstanding at december 31 , 2016 ) , bearing interest at variable rates ( although a portion of this debt is hedged through interest rate swap contracts ) reduced by $ 72.7 million of amounts outstanding under letters of credit 2022 senior notes totaling $ 600 million , maturing in may 2023 and bearing interest at a 4.75% ( 4.75 % ) fixed rate 2022 euro notes totaling $ 526 million ( 20ac500 million ) , maturing in april 2024 and bearing interest at a 3.875% ( 3.875 % ) fixed rate 2022 receivables securitization facility with availability up to $ 100 million ( $ 100 million outstanding as of december 31 , 2016 ) , maturing in november 2019 and bearing interest at variable commercial paper from time to time , we may undertake financing transactions to increase our available liquidity , such as our january 2016 amendment to our senior secured credit facilities , the issuance of 20ac500 million of euro notes in april 2016 , and the november 2016 amendment to our receivables securitization facility .', 'the rhiag acquisition was the catalyst for the april issuance of 20ac500 million of euro notes .', 'given that rhiag is a long term asset , we considered alternative financing options and decided to fund a portion of this acquisition through the issuance of long term notes .', "additionally , the interest rates on rhiag's acquired debt ranged between 6.45% ( 6.45 % ) and 7.25% ( 7.25 % ) .", "with the issuance of the 20ac500 million of senior notes at a rate of 3.875% ( 3.875 % ) , we were able to replace rhiag's borrowings with long term financing at favorable rates .", 'this refinancing also provides financial flexibility to execute our long-term growth strategy by freeing up availability under our revolver .', 'if we see an attractive acquisition opportunity , we have the ability to use our revolver to move quickly and have certainty of funding .', 'as of december 31 , 2016 , we had approximately $ 1.02 billion available under our credit facilities .', 'combined with approximately $ 227.4 million of cash and equivalents at december 31 , 2016 , we had approximately $ 1.25 billion in available liquidity , a decrease of $ 178.5 million from our available liquidity as of december 31 , 2015 .', "we expect to use the proceeds from the sale of pgw's glass manufacturing business to pay down borrowings under our revolving credit facilities , which would increase our available liquidity by approximately $ 310 million when the transaction closes. ."]

2.60192

LKQ/2016/page_48.pdf-4

['liquidity and capital resources the following table summarizes liquidity data as of the dates indicated ( in thousands ) : december 31 , december 31 .']

['total debt ( 1 ) 3365687 1599695 current maturities ( 2 ) 68414 57494 capacity under credit facilities ( 3 ) 2550000 1947000 availability under credit facilities ( 3 ) 1019112 1337653 total liquidity ( cash and equivalents plus availability on credit facilities ) 1246512 1425050 ( 1 ) debt amounts reflect the gross values to be repaid ( excluding debt issuance costs of $ 23.9 million and $ 15.0 million as of december 31 , 2016 and 2015 , respectively ) .', '( 2 ) debt amounts reflect the gross values to be repaid ( excluding debt issuance costs of $ 2.3 million and $ 1.5 million as of december 31 , 2016 and 2015 , respectively ) .', '( 3 ) includes our revolving credit facilities , our receivables securitization facility , and letters of credit .', 'we assess our liquidity in terms of our ability to fund our operations and provide for expansion through both internal development and acquisitions .', 'our primary sources of liquidity are cash flows from operations and our credit facilities .', 'we utilize our cash flows from operations to fund working capital and capital expenditures , with the excess amounts going towards funding acquisitions or paying down outstanding debt .', 'as we have pursued acquisitions as part of our growth strategy , our cash flows from operations have not always been sufficient to cover our investing activities .', 'to fund our acquisitions , we have accessed various forms of debt financing , including revolving credit facilities , senior notes , and a receivables securitization facility .', 'as of december 31 , 2016 , we had debt outstanding and additional available sources of financing , as follows : 2022 senior secured credit facilities maturing in january 2021 , composed of term loans totaling $ 750 million ( $ 732.7 million outstanding at december 31 , 2016 ) and $ 2.45 billion in revolving credit ( $ 1.36 billion outstanding at december 31 , 2016 ) , bearing interest at variable rates ( although a portion of this debt is hedged through interest rate swap contracts ) reduced by $ 72.7 million of amounts outstanding under letters of credit 2022 senior notes totaling $ 600 million , maturing in may 2023 and bearing interest at a 4.75% ( 4.75 % ) fixed rate 2022 euro notes totaling $ 526 million ( 20ac500 million ) , maturing in april 2024 and bearing interest at a 3.875% ( 3.875 % ) fixed rate 2022 receivables securitization facility with availability up to $ 100 million ( $ 100 million outstanding as of december 31 , 2016 ) , maturing in november 2019 and bearing interest at variable commercial paper from time to time , we may undertake financing transactions to increase our available liquidity , such as our january 2016 amendment to our senior secured credit facilities , the issuance of 20ac500 million of euro notes in april 2016 , and the november 2016 amendment to our receivables securitization facility .', 'the rhiag acquisition was the catalyst for the april issuance of 20ac500 million of euro notes .', 'given that rhiag is a long term asset , we considered alternative financing options and decided to fund a portion of this acquisition through the issuance of long term notes .', "additionally , the interest rates on rhiag's acquired debt ranged between 6.45% ( 6.45 % ) and 7.25% ( 7.25 % ) .", "with the issuance of the 20ac500 million of senior notes at a rate of 3.875% ( 3.875 % ) , we were able to replace rhiag's borrowings with long term financing at favorable rates .", 'this refinancing also provides financial flexibility to execute our long-term growth strategy by freeing up availability under our revolver .', 'if we see an attractive acquisition opportunity , we have the ability to use our revolver to move quickly and have certainty of funding .', 'as of december 31 , 2016 , we had approximately $ 1.02 billion available under our credit facilities .', 'combined with approximately $ 227.4 million of cash and equivalents at december 31 , 2016 , we had approximately $ 1.25 billion in available liquidity , a decrease of $ 178.5 million from our available liquidity as of december 31 , 2015 .', "we expect to use the proceeds from the sale of pgw's glass manufacturing business to pay down borrowings under our revolving credit facilities , which would increase our available liquidity by approximately $ 310 million when the transaction closes. ."]

• , december 31 2016, december 31 2015 • cash and equivalents, $ 227400, $ 87397 • total debt ( 1 ), 3365687, 1599695 • current maturities ( 2 ), 68414, 57494 • capacity under credit facilities ( 3 ), 2550000, 1947000 • availability under credit facilities ( 3 ), 1019112, 1337653 • total liquidity ( cash and equivalents plus availability on credit facilities ), 1246512, 1425050

divide(227400, 87397)

2.60192

what is the ratio of the warehouse space to the switching centers in square feet

Background: ['in particular , we have received commitments for $ 30.0 billion in debt financing to fund the transactions which is comprised of ( i ) a $ 4.0 billion secured revolving credit facility , ( ii ) a $ 7.0 billion term loan credit facility and ( iii ) a $ 19.0 billion secured bridge loan facility .', 'our reliance on the financing from the $ 19.0 billion secured bridge loan facility commitment is intended to be reduced through one or more secured note offerings or other long-term financings prior to the merger closing .', 'however , there can be no assurance that we will be able to issue any such secured notes or other long-term financings on terms we find acceptable or at all , especially in light of the recent debt market volatility , in which case we may have to exercise some or all of the commitments under the secured bridge facility to fund the transactions .', 'accordingly , the costs of financing for the transactions may be higher than expected .', 'credit rating downgrades could adversely affect the businesses , cash flows , financial condition and operating results of t-mobile and , following the transactions , the combined company .', 'credit ratings impact the cost and availability of future borrowings , and , as a result , cost of capital .', 'our current ratings reflect each rating agency 2019s opinion of our financial strength , operating performance and ability to meet our debt obligations or , following the completion of the transactions , obligations to the combined company 2019s obligors .', 'each rating agency reviews these ratings periodically and there can be no assurance that such ratings will be maintained in the future .', 'a downgrade in the rating of us and/or sprint could adversely affect the businesses , cash flows , financial condition and operating results of t- mobile and , following the transactions , the combined company .', 'we have incurred , and will incur , direct and indirect costs as a result of the transactions .', 'we have incurred , and will incur , substantial expenses in connection with and as a result of completing the transactions , and over a period of time following the completion of the transactions , the combined company also expects to incur substantial expenses in connection with integrating and coordinating our and sprint 2019s businesses , operations , policies and procedures .', 'a portion of the transaction costs related to the transactions will be incurred regardless of whether the transactions are completed .', 'while we have assumed that a certain level of transaction expenses will be incurred , factors beyond our control could affect the total amount or the timing of these expenses .', 'many of the expenses that will be incurred , by their nature , are difficult to estimate accurately .', 'these expenses will exceed the costs historically borne by us .', 'these costs could adversely affect our financial condition and results of operations prior to the transactions and the financial condition and results of operations of the combined company following the transactions .', 'item 1b .', 'unresolved staff comments item 2 .', 'properties as of december 31 , 2018 , our significant properties that we primarily lease and use in connection with switching centers , data centers , call centers and warehouses were as follows: .'] Tabular Data: ======================================== , approximate number, approximate size in square feet switching centers, 61, 1300000 data centers, 6, 500000 call center, 17, 1300000 warehouses, 21, 500000 ======================================== Additional Information: ['as of december 31 , 2018 , we primarily leased : 2022 approximately 64000 macro towers and 21000 distributed antenna system and small cell sites .', '2022 approximately 2200 t-mobile and metro by t-mobile retail locations , including stores and kiosks ranging in size from approximately 100 square feet to 17000 square feet .', '2022 office space totaling approximately 1000000 square feet for our corporate headquarters in bellevue , washington .', 'in january 2019 , we executed leases totaling approximately 170000 additional square feet for our corporate headquarters .', 'we use these offices for engineering and administrative purposes .', '2022 office space throughout the u.s. , totaling approximately 1700000 square feet , for use by our regional offices primarily for administrative , engineering and sales purposes. .']

2.6

TMUS/2018/page_35.pdf-1

['in particular , we have received commitments for $ 30.0 billion in debt financing to fund the transactions which is comprised of ( i ) a $ 4.0 billion secured revolving credit facility , ( ii ) a $ 7.0 billion term loan credit facility and ( iii ) a $ 19.0 billion secured bridge loan facility .', 'our reliance on the financing from the $ 19.0 billion secured bridge loan facility commitment is intended to be reduced through one or more secured note offerings or other long-term financings prior to the merger closing .', 'however , there can be no assurance that we will be able to issue any such secured notes or other long-term financings on terms we find acceptable or at all , especially in light of the recent debt market volatility , in which case we may have to exercise some or all of the commitments under the secured bridge facility to fund the transactions .', 'accordingly , the costs of financing for the transactions may be higher than expected .', 'credit rating downgrades could adversely affect the businesses , cash flows , financial condition and operating results of t-mobile and , following the transactions , the combined company .', 'credit ratings impact the cost and availability of future borrowings , and , as a result , cost of capital .', 'our current ratings reflect each rating agency 2019s opinion of our financial strength , operating performance and ability to meet our debt obligations or , following the completion of the transactions , obligations to the combined company 2019s obligors .', 'each rating agency reviews these ratings periodically and there can be no assurance that such ratings will be maintained in the future .', 'a downgrade in the rating of us and/or sprint could adversely affect the businesses , cash flows , financial condition and operating results of t- mobile and , following the transactions , the combined company .', 'we have incurred , and will incur , direct and indirect costs as a result of the transactions .', 'we have incurred , and will incur , substantial expenses in connection with and as a result of completing the transactions , and over a period of time following the completion of the transactions , the combined company also expects to incur substantial expenses in connection with integrating and coordinating our and sprint 2019s businesses , operations , policies and procedures .', 'a portion of the transaction costs related to the transactions will be incurred regardless of whether the transactions are completed .', 'while we have assumed that a certain level of transaction expenses will be incurred , factors beyond our control could affect the total amount or the timing of these expenses .', 'many of the expenses that will be incurred , by their nature , are difficult to estimate accurately .', 'these expenses will exceed the costs historically borne by us .', 'these costs could adversely affect our financial condition and results of operations prior to the transactions and the financial condition and results of operations of the combined company following the transactions .', 'item 1b .', 'unresolved staff comments item 2 .', 'properties as of december 31 , 2018 , our significant properties that we primarily lease and use in connection with switching centers , data centers , call centers and warehouses were as follows: .']

['as of december 31 , 2018 , we primarily leased : 2022 approximately 64000 macro towers and 21000 distributed antenna system and small cell sites .', '2022 approximately 2200 t-mobile and metro by t-mobile retail locations , including stores and kiosks ranging in size from approximately 100 square feet to 17000 square feet .', '2022 office space totaling approximately 1000000 square feet for our corporate headquarters in bellevue , washington .', 'in january 2019 , we executed leases totaling approximately 170000 additional square feet for our corporate headquarters .', 'we use these offices for engineering and administrative purposes .', '2022 office space throughout the u.s. , totaling approximately 1700000 square feet , for use by our regional offices primarily for administrative , engineering and sales purposes. .']

======================================== , approximate number, approximate size in square feet switching centers, 61, 1300000 data centers, 6, 500000 call center, 17, 1300000 warehouses, 21, 500000 ========================================

divide(1300000, 500000)

2.6

what is the increase in the deductions during 2006 and 2007 , in thousands of dollars?

Context: ['federal realty investment trust schedule iii summary of real estate and accumulated depreciation 2014continued three years ended december 31 , 2007 reconciliation of accumulated depreciation and amortization ( in thousands ) .'] ---- Tabular Data: ---------------------------------------- balance december 31 2004 | $ 595338 additions during period 2014depreciation and amortization expense | 83656 deductions during period 2014disposition and retirements of property | -15244 ( 15244 ) balance december 31 2005 | $ 663750 additions during period 2014depreciation and amortization expense | 89564 deductions during period 2014disposition and retirements of property | -12807 ( 12807 ) balance december 31 2006 | $ 740507 additions during period 2014depreciation and amortization expense | 96454 deductions during period 2014disposition and retirements of property | -80258 ( 80258 ) balance december 31 2007 | $ 756703 ---------------------------------------- ---- Follow-up: ['.']

67451.0

FRT/2007/page_137.pdf-2

['federal realty investment trust schedule iii summary of real estate and accumulated depreciation 2014continued three years ended december 31 , 2007 reconciliation of accumulated depreciation and amortization ( in thousands ) .']

['.']

---------------------------------------- balance december 31 2004 | $ 595338 additions during period 2014depreciation and amortization expense | 83656 deductions during period 2014disposition and retirements of property | -15244 ( 15244 ) balance december 31 2005 | $ 663750 additions during period 2014depreciation and amortization expense | 89564 deductions during period 2014disposition and retirements of property | -12807 ( 12807 ) balance december 31 2006 | $ 740507 additions during period 2014depreciation and amortization expense | 96454 deductions during period 2014disposition and retirements of property | -80258 ( 80258 ) balance december 31 2007 | $ 756703 ----------------------------------------

subtract(80258, 12807)

67451.0

considering the year 2014 , what are the variation between the expenses for environmental remediation at sites and the reserves environmental matters , in millions?

Background: ['table of contents 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 , 2015 , 2014 and 2013 are as follows: .'] -------- Table: first quarter second quarter third quarter fourth quarter 2015 22% ( 22 % ) 25% ( 25 % ) 26% ( 26 % ) 27% ( 27 % ) 2014 22% ( 22 % ) 25% ( 25 % ) 26% ( 26 % ) 27% ( 27 % ) 2013 23% ( 23 % ) 26% ( 26 % ) 26% ( 26 % ) 25% ( 25 % ) -------- Additional Information: ['2015 fourth quarter revenue includes the full-quarter impact of the acquisitions of simonsvoss , axa and milre .', 'employees as of december 31 , 2015 , we had more than 9400 employees , approximately 26% ( 26 % ) of whom have the terms of their employment covered under collective bargaining agreements .', 'this includes non-management european employees who are represented by national and local works councils .', '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 manufacturing facilities .', '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 $ 4.4 million , $ 2.9 million , and $ 2.1 million of expenses during the years ended december 31 , 2015 , 2014 , and 2013 , respectively , for environmental remediation at sites presently or formerly owned or leased by us .', 'as of december 31 , 2015 and 2014 , we have recorded reserves for environmental matters of $ 15.2 million and $ 8.8 million .', 'of these amounts $ 2.8 million and $ 2.4 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 .', 'available information we are required to file annual , quarterly , and current reports , proxy statements , and other documents with the u.s .', 'securities and exchange commission ( "sec" ) .', 'the public may read and copy any materials filed with the sec at the sec 2019s public reference room at 100 f street , n.e. , washington , d.c .', '20549 .', 'the public may obtain information on the operation of the public reference room by calling the sec at 1-800-sec-0330 .', 'also , the sec maintains an internet website that contains reports , proxy and information statements , and other information regarding issuers that file electronically with the sec .', 'the public can obtain any documents that are filed by us at http://www.sec.gov .', 'in addition , this annual report on form 10-k , as well as future quarterly reports on form 10-q , current reports on form 8-k and any amendments to all of the foregoing reports , are made available free of charge on our internet website ( http://www.allegion.com ) as soon as reasonably practicable after such reports are electronically filed with or furnished to the sec .', 'the contents of our website are not incorporated by reference in this report. .']

5.9

ALLE/2015/page_24.pdf-2

['table of contents 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 , 2015 , 2014 and 2013 are as follows: .']

['2015 fourth quarter revenue includes the full-quarter impact of the acquisitions of simonsvoss , axa and milre .', 'employees as of december 31 , 2015 , we had more than 9400 employees , approximately 26% ( 26 % ) of whom have the terms of their employment covered under collective bargaining agreements .', 'this includes non-management european employees who are represented by national and local works councils .', '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 manufacturing facilities .', '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 $ 4.4 million , $ 2.9 million , and $ 2.1 million of expenses during the years ended december 31 , 2015 , 2014 , and 2013 , respectively , for environmental remediation at sites presently or formerly owned or leased by us .', 'as of december 31 , 2015 and 2014 , we have recorded reserves for environmental matters of $ 15.2 million and $ 8.8 million .', 'of these amounts $ 2.8 million and $ 2.4 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 .', 'available information we are required to file annual , quarterly , and current reports , proxy statements , and other documents with the u.s .', 'securities and exchange commission ( "sec" ) .', 'the public may read and copy any materials filed with the sec at the sec 2019s public reference room at 100 f street , n.e. , washington , d.c .', '20549 .', 'the public may obtain information on the operation of the public reference room by calling the sec at 1-800-sec-0330 .', 'also , the sec maintains an internet website that contains reports , proxy and information statements , and other information regarding issuers that file electronically with the sec .', 'the public can obtain any documents that are filed by us at http://www.sec.gov .', 'in addition , this annual report on form 10-k , as well as future quarterly reports on form 10-q , current reports on form 8-k and any amendments to all of the foregoing reports , are made available free of charge on our internet website ( http://www.allegion.com ) as soon as reasonably practicable after such reports are electronically filed with or furnished to the sec .', 'the contents of our website are not incorporated by reference in this report. .']

first quarter second quarter third quarter fourth quarter 2015 22% ( 22 % ) 25% ( 25 % ) 26% ( 26 % ) 27% ( 27 % ) 2014 22% ( 22 % ) 25% ( 25 % ) 26% ( 26 % ) 27% ( 27 % ) 2013 23% ( 23 % ) 26% ( 26 % ) 26% ( 26 % ) 25% ( 25 % )

subtract(8.8, 2.9)

5.9

what is the decrease observed in the adjusted net income from discontinued operations during 2017 and 2018 , in millions?

Background: ['( 1 ) adjusted other income ( expense ) excludes pension settlement charges of $ 37 million , $ 128 million , and $ 220 million , for the years ended 2018 , 2017 , and 2016 , respectively .', '( 2 ) adjusted items are generally taxed at the estimated annual effective tax rate , except for the applicable tax impact associated with estimated restructuring plan expenses , legacy litigation , accelerated tradename amortization , impairment charges and non-cash pension settlement charges , which are adjusted at the related jurisdictional rates .', 'in addition , tax expense excludes the tax impacts from the sale of certain assets and liabilities previously classified as held for sale as well as the tax adjustments recorded to finalize the 2017 accounting for the enactment date impact of the tax reform act recorded pursuant torr sab 118 .', '( 3 ) adjusted net income from discontinued operations excludes the gain on sale of discontinued operations of $ 82 million , $ 779 million , and $ 0 million for the years ended 2018 , 2017 , and 2016 , respectively .', 'adjusted net income from discontinued operations excludes intangible asset amortization of $ 0 million , $ 11rr million , and $ 120 million for the twelve months ended december 31 , 2018 , 2017 , and 2016 , respectively .', 'the effective tax rate was further adjusted for the applicable tax impact associated with the gain on sale and intangible asset amortization , as applicable .', 'free cash flow we use free cash flow , defined as cash flow provided by operations minus capital expenditures , as a non-gaap measure of our core operating performance and cash generating capabilities of our business operations .', 'this supplemental information related to free cash flow represents a measure not in accordance with u.s .', 'gaap and should be viewed in addition to , not instead of , our financial statements .', 'the use of this non-gaap measure does not imply or represent the residual cash flow for discretionary expenditures .', 'a reconciliation of this non-gaap measure to cash flow provided by operations is as follows ( in millions ) : .'] -- Table: ---------------------------------------- Row 1: years ended december 31, 2018, 2017, 2016 Row 2: cash provided by continuing operating activities, $ 1686, $ 669, $ 1829 Row 3: capital expenditures used for continuing operations, -240 ( 240 ), -183 ( 183 ), -156 ( 156 ) Row 4: free cash flow provided by continuing operations, $ 1446, $ 486, $ 1673 ---------------------------------------- -- Post-table: ['impact of foreign currency exchange rate fluctuations we conduct business in more than 120 countries and sovereignties and , because of this , foreign currency exchange rate fluctuations have a significant impact on our business .', 'foreign currency exchange rate movements may be significant and may distort true period-to-period comparisons of changes in revenue or pretax income .', 'therefore , to give financial statement users meaningful information about our operations , we have provided an illustration of the impact of foreign currency exchange rate fluctuations on our financial results .', 'the methodology used to calculate this impact isolates the impact of the change in currencies between periods by translating the prior year 2019s revenue , expenses , and net income using the current year 2019s foreign currency exchange rates .', 'translating prior year results at current year foreign currency exchange rates , currency fluctuations had a $ 0.08 favorable impact on net income per diluted share during the year ended december 31 , 2018 .', 'currency fluctuations had a $ 0.12 favorable impact on net income per diluted share during the year ended december 31 , 2017 , when 2016 results were translated at 2017 rates .', 'currency fluctuations had no impact on net income per diluted share during the year ended december 31 , 2016 , when 2015 results were translated at 2016 rates .', 'translating prior year results at current year foreign currency exchange rates , currency fluctuations had a $ 0.09 favorable impact on adjusted net income per diluted share during the year ended december 31 , 2018 .', 'currency fluctuations had a $ 0.08 favorable impact on adjusted net income per diluted share during the year ended december 31 , 2017 , when 2016 results were translated at 2017 rates .', 'currency fluctuations had a $ 0.04 unfavorable impact on adjusted net income per diluted share during the year ended december 31 , 2016 , when 2015 results were translated at 2016 rates .', 'these translations are performed for comparative purposes only and do not impact the accounting policies or practices for amounts included in the financial statements .', 'competition and markets authority the u.k . 2019s competition regulator , the competition and markets authority ( the 201ccma 201d ) , conducted a market investigation into the supply and acquisition of investment consulting and fiduciary management services , including those offered by aon and its competitors in the u.k. , to assess whether any feature or combination of features in the target market prevents , restricts , or distorts competition .', 'the cma issued a final report on december 12 , 2018 .', 'the cma will draft a series of orders that will set out the detailed remedies , expected in first quarter of 2019 , when they will be subject to further public consultation .', 'we do not anticipate the remedies to have a significant impact on the company 2019s consolidated financial position or business .', 'financial conduct authority the fca is conducting a market study to assess how effectively competition is working in the wholesale insurance broker sector in the u.k .', 'in which aon , through its subsidiaries , participates .', 'the fca has indicated that the purpose of a market study is to assess the extent to which the market is working well in the interests of customers and to identify features of the market that may impact competition .', 'depending on the study 2019s findings , the fca may require remedies in order to correct any features found .']

697.0

AON/2018/page_41.pdf-2

['( 1 ) adjusted other income ( expense ) excludes pension settlement charges of $ 37 million , $ 128 million , and $ 220 million , for the years ended 2018 , 2017 , and 2016 , respectively .', '( 2 ) adjusted items are generally taxed at the estimated annual effective tax rate , except for the applicable tax impact associated with estimated restructuring plan expenses , legacy litigation , accelerated tradename amortization , impairment charges and non-cash pension settlement charges , which are adjusted at the related jurisdictional rates .', 'in addition , tax expense excludes the tax impacts from the sale of certain assets and liabilities previously classified as held for sale as well as the tax adjustments recorded to finalize the 2017 accounting for the enactment date impact of the tax reform act recorded pursuant torr sab 118 .', '( 3 ) adjusted net income from discontinued operations excludes the gain on sale of discontinued operations of $ 82 million , $ 779 million , and $ 0 million for the years ended 2018 , 2017 , and 2016 , respectively .', 'adjusted net income from discontinued operations excludes intangible asset amortization of $ 0 million , $ 11rr million , and $ 120 million for the twelve months ended december 31 , 2018 , 2017 , and 2016 , respectively .', 'the effective tax rate was further adjusted for the applicable tax impact associated with the gain on sale and intangible asset amortization , as applicable .', 'free cash flow we use free cash flow , defined as cash flow provided by operations minus capital expenditures , as a non-gaap measure of our core operating performance and cash generating capabilities of our business operations .', 'this supplemental information related to free cash flow represents a measure not in accordance with u.s .', 'gaap and should be viewed in addition to , not instead of , our financial statements .', 'the use of this non-gaap measure does not imply or represent the residual cash flow for discretionary expenditures .', 'a reconciliation of this non-gaap measure to cash flow provided by operations is as follows ( in millions ) : .']

['impact of foreign currency exchange rate fluctuations we conduct business in more than 120 countries and sovereignties and , because of this , foreign currency exchange rate fluctuations have a significant impact on our business .', 'foreign currency exchange rate movements may be significant and may distort true period-to-period comparisons of changes in revenue or pretax income .', 'therefore , to give financial statement users meaningful information about our operations , we have provided an illustration of the impact of foreign currency exchange rate fluctuations on our financial results .', 'the methodology used to calculate this impact isolates the impact of the change in currencies between periods by translating the prior year 2019s revenue , expenses , and net income using the current year 2019s foreign currency exchange rates .', 'translating prior year results at current year foreign currency exchange rates , currency fluctuations had a $ 0.08 favorable impact on net income per diluted share during the year ended december 31 , 2018 .', 'currency fluctuations had a $ 0.12 favorable impact on net income per diluted share during the year ended december 31 , 2017 , when 2016 results were translated at 2017 rates .', 'currency fluctuations had no impact on net income per diluted share during the year ended december 31 , 2016 , when 2015 results were translated at 2016 rates .', 'translating prior year results at current year foreign currency exchange rates , currency fluctuations had a $ 0.09 favorable impact on adjusted net income per diluted share during the year ended december 31 , 2018 .', 'currency fluctuations had a $ 0.08 favorable impact on adjusted net income per diluted share during the year ended december 31 , 2017 , when 2016 results were translated at 2017 rates .', 'currency fluctuations had a $ 0.04 unfavorable impact on adjusted net income per diluted share during the year ended december 31 , 2016 , when 2015 results were translated at 2016 rates .', 'these translations are performed for comparative purposes only and do not impact the accounting policies or practices for amounts included in the financial statements .', 'competition and markets authority the u.k . 2019s competition regulator , the competition and markets authority ( the 201ccma 201d ) , conducted a market investigation into the supply and acquisition of investment consulting and fiduciary management services , including those offered by aon and its competitors in the u.k. , to assess whether any feature or combination of features in the target market prevents , restricts , or distorts competition .', 'the cma issued a final report on december 12 , 2018 .', 'the cma will draft a series of orders that will set out the detailed remedies , expected in first quarter of 2019 , when they will be subject to further public consultation .', 'we do not anticipate the remedies to have a significant impact on the company 2019s consolidated financial position or business .', 'financial conduct authority the fca is conducting a market study to assess how effectively competition is working in the wholesale insurance broker sector in the u.k .', 'in which aon , through its subsidiaries , participates .', 'the fca has indicated that the purpose of a market study is to assess the extent to which the market is working well in the interests of customers and to identify features of the market that may impact competition .', 'depending on the study 2019s findings , the fca may require remedies in order to correct any features found .']

---------------------------------------- Row 1: years ended december 31, 2018, 2017, 2016 Row 2: cash provided by continuing operating activities, $ 1686, $ 669, $ 1829 Row 3: capital expenditures used for continuing operations, -240 ( 240 ), -183 ( 183 ), -156 ( 156 ) Row 4: free cash flow provided by continuing operations, $ 1446, $ 486, $ 1673 ----------------------------------------

subtract(779, 82)

697.0

if the same changes to net income that occured in 2015 compared to 2014 recurred in 2016 , what would 2016 net revenue have been?

Context: ['entergy louisiana , llc and subsidiaries management 2019s financial discussion and analysis results of operations net income 2016 compared to 2015 net income increased $ 175.4 million primarily due to the effect of a settlement with the irs related to the 2010-2011 irs audit , which resulted in a $ 136.1 million reduction of income tax expense .', 'also contributing to the increase were lower other operation and maintenance expenses , higher net revenue , and higher other income .', 'the increase was partially offset by higher depreciation and amortization expenses , higher interest expense , and higher nuclear refueling outage expenses .', '2015 compared to 2014 net income increased slightly , by $ 0.6 million , primarily due to higher net revenue and a lower effective income tax rate , offset by higher other operation and maintenance expenses , higher depreciation and amortization expenses , lower other income , and higher interest expense .', '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 ) .'] Data Table: ======================================== Row 1: , amount ( in millions ) Row 2: 2015 net revenue, $ 2408.8 Row 3: retail electric price, 69.0 Row 4: transmission equalization, -6.5 ( 6.5 ) Row 5: volume/weather, -6.7 ( 6.7 ) Row 6: louisiana act 55 financing savings obligation, -17.2 ( 17.2 ) Row 7: other, -9.0 ( 9.0 ) Row 8: 2016 net revenue, $ 2438.4 ======================================== Follow-up: ['the retail electric price variance is primarily due to an increase in formula rate plan revenues , implemented with the first billing cycle of march 2016 , to collect the estimated first-year revenue requirement related to the purchase of power blocks 3 and 4 of the union power station .', 'see note 2 to the financial statements for further discussion .', 'the transmission equalization variance is primarily due to changes in transmission investments , including entergy louisiana 2019s exit from the system agreement in august 2016 .', 'the volume/weather variance is primarily due to the effect of less favorable weather on residential sales , partially offset by an increase in industrial usage and an increase in volume during the unbilled period .', 'the increase .']

2439.0

ETR/2016/page_342.pdf-2

['entergy louisiana , llc and subsidiaries management 2019s financial discussion and analysis results of operations net income 2016 compared to 2015 net income increased $ 175.4 million primarily due to the effect of a settlement with the irs related to the 2010-2011 irs audit , which resulted in a $ 136.1 million reduction of income tax expense .', 'also contributing to the increase were lower other operation and maintenance expenses , higher net revenue , and higher other income .', 'the increase was partially offset by higher depreciation and amortization expenses , higher interest expense , and higher nuclear refueling outage expenses .', '2015 compared to 2014 net income increased slightly , by $ 0.6 million , primarily due to higher net revenue and a lower effective income tax rate , offset by higher other operation and maintenance expenses , higher depreciation and amortization expenses , lower other income , and higher interest expense .', '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 ) .']

['the retail electric price variance is primarily due to an increase in formula rate plan revenues , implemented with the first billing cycle of march 2016 , to collect the estimated first-year revenue requirement related to the purchase of power blocks 3 and 4 of the union power station .', 'see note 2 to the financial statements for further discussion .', 'the transmission equalization variance is primarily due to changes in transmission investments , including entergy louisiana 2019s exit from the system agreement in august 2016 .', 'the volume/weather variance is primarily due to the effect of less favorable weather on residential sales , partially offset by an increase in industrial usage and an increase in volume during the unbilled period .', 'the increase .']

======================================== Row 1: , amount ( in millions ) Row 2: 2015 net revenue, $ 2408.8 Row 3: retail electric price, 69.0 Row 4: transmission equalization, -6.5 ( 6.5 ) Row 5: volume/weather, -6.7 ( 6.7 ) Row 6: louisiana act 55 financing savings obligation, -17.2 ( 17.2 ) Row 7: other, -9.0 ( 9.0 ) Row 8: 2016 net revenue, $ 2438.4 ========================================

add(0.6, 2438.4)

2439.0

what was the percentage change in open claims ending balance at december 31 from 2005 to 2006?

Background: ['potentially responsible parties , and existing technology , laws , and regulations .', 'the ultimate liability for remediation is difficult to determine because of the number of potentially responsible parties involved , site- specific cost sharing arrangements with other potentially responsible parties , the degree of contamination by various wastes , the scarcity and quality of volumetric data related to many of the sites , and the speculative nature of remediation costs .', 'current obligations are not expected to have a material adverse effect on our consolidated results of operations , financial condition , or liquidity .', '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 third-party actuaries to assist us with measuring 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 .', 'annual expenses for personal injury-related events were $ 240 million in 2006 , $ 247 million in 2005 , and $ 288 million in 2004 .', 'as of december 31 , 2006 and 2005 , we had accrued liabilities of $ 631 million and $ 619 million for future personal injury costs , respectively , of which $ 233 million and $ 274 million was recorded in current liabilities as accrued casualty costs , respectively .', 'our personal injury liability is discounted to present value using applicable u.s .', 'treasury rates .', 'approximately 87% ( 87 % ) of the recorded liability related to asserted claims , and approximately 13% ( 13 % ) related to unasserted claims .', 'estimates can vary over time due to evolving trends in litigation .', 'our personal injury claims activity was as follows : claims activity 2006 2005 2004 .'] Tabular Data: ---------------------------------------- • claims activity, 2006, 2005, 2004 • open claims beginning balance, 4197, 4028, 4085 • new claims, 4190, 4584, 4366 • settled or dismissed claims, -4261 ( 4261 ), -4415 ( 4415 ), -4423 ( 4423 ) • open claims ending balance at december 31, 4126, 4197, 4028 ---------------------------------------- Follow-up: ['depreciation 2013 the railroad industry is capital intensive .', 'properties are carried at cost .', 'provisions for depreciation are computed principally on the straight-line method based on estimated service lives of depreciable property .', 'the lives are calculated using a separate composite annual percentage rate for each depreciable property group , based on the results of internal depreciation studies .', 'we are required to submit a report on depreciation studies and proposed depreciation rates to the stb for review and approval every three years for equipment property and every six years for road property .', 'the cost ( net of salvage ) of depreciable railroad property retired or replaced in the ordinary course of business is charged to accumulated depreciation , and no gain or loss is recognized .', 'a gain or loss is recognized in other income for all other property upon disposition because the gain or loss is not part of rail operations .', 'the cost of internally developed software is capitalized and amortized over a five-year period .', 'significant capital spending in recent years increased the total value of our depreciable assets .', 'cash capital spending totaled $ 2.2 billion for the year ended december 31 , 2006 .', 'for the year ended december 31 , 2006 , depreciation expense was $ 1.2 billion .', 'we use various methods to estimate useful lives for each group of depreciable property .', 'due to the capital intensive nature of the business and the large base of depreciable assets , variances to those estimates could have a material effect on our consolidated financial statements .', 'if the estimated useful lives of all depreciable assets were increased by one year , annual depreciation expense would decrease by approximately $ 43 million .', 'if the estimated useful lives of all assets to be depreciated were decreased by one year , annual depreciation expense would increase by approximately $ 45 million .', 'income taxes 2013 as required under fasb statement no .', '109 , accounting for income taxes , we account for income taxes by recording taxes payable or refundable for the current year and deferred tax assets and liabilities for the future tax consequences of events that have been recognized in our financial statements or tax returns .', 'these .']

-0.01692

UNP/2006/page_45.pdf-4

['potentially responsible parties , and existing technology , laws , and regulations .', 'the ultimate liability for remediation is difficult to determine because of the number of potentially responsible parties involved , site- specific cost sharing arrangements with other potentially responsible parties , the degree of contamination by various wastes , the scarcity and quality of volumetric data related to many of the sites , and the speculative nature of remediation costs .', 'current obligations are not expected to have a material adverse effect on our consolidated results of operations , financial condition , or liquidity .', '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 third-party actuaries to assist us with measuring 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 .', 'annual expenses for personal injury-related events were $ 240 million in 2006 , $ 247 million in 2005 , and $ 288 million in 2004 .', 'as of december 31 , 2006 and 2005 , we had accrued liabilities of $ 631 million and $ 619 million for future personal injury costs , respectively , of which $ 233 million and $ 274 million was recorded in current liabilities as accrued casualty costs , respectively .', 'our personal injury liability is discounted to present value using applicable u.s .', 'treasury rates .', 'approximately 87% ( 87 % ) of the recorded liability related to asserted claims , and approximately 13% ( 13 % ) related to unasserted claims .', 'estimates can vary over time due to evolving trends in litigation .', 'our personal injury claims activity was as follows : claims activity 2006 2005 2004 .']

['depreciation 2013 the railroad industry is capital intensive .', 'properties are carried at cost .', 'provisions for depreciation are computed principally on the straight-line method based on estimated service lives of depreciable property .', 'the lives are calculated using a separate composite annual percentage rate for each depreciable property group , based on the results of internal depreciation studies .', 'we are required to submit a report on depreciation studies and proposed depreciation rates to the stb for review and approval every three years for equipment property and every six years for road property .', 'the cost ( net of salvage ) of depreciable railroad property retired or replaced in the ordinary course of business is charged to accumulated depreciation , and no gain or loss is recognized .', 'a gain or loss is recognized in other income for all other property upon disposition because the gain or loss is not part of rail operations .', 'the cost of internally developed software is capitalized and amortized over a five-year period .', 'significant capital spending in recent years increased the total value of our depreciable assets .', 'cash capital spending totaled $ 2.2 billion for the year ended december 31 , 2006 .', 'for the year ended december 31 , 2006 , depreciation expense was $ 1.2 billion .', 'we use various methods to estimate useful lives for each group of depreciable property .', 'due to the capital intensive nature of the business and the large base of depreciable assets , variances to those estimates could have a material effect on our consolidated financial statements .', 'if the estimated useful lives of all depreciable assets were increased by one year , annual depreciation expense would decrease by approximately $ 43 million .', 'if the estimated useful lives of all assets to be depreciated were decreased by one year , annual depreciation expense would increase by approximately $ 45 million .', 'income taxes 2013 as required under fasb statement no .', '109 , accounting for income taxes , we account for income taxes by recording taxes payable or refundable for the current year and deferred tax assets and liabilities for the future tax consequences of events that have been recognized in our financial statements or tax returns .', 'these .']

---------------------------------------- • claims activity, 2006, 2005, 2004 • open claims beginning balance, 4197, 4028, 4085 • new claims, 4190, 4584, 4366 • settled or dismissed claims, -4261 ( 4261 ), -4415 ( 4415 ), -4423 ( 4423 ) • open claims ending balance at december 31, 4126, 4197, 4028 ----------------------------------------

subtract(4126, 4197), divide(#0, 4197)

-0.01692

what percentage of international facilities' square footage is from owned facilities?\\n

Context: ['the agreements that govern the indebtedness incurred or assumed in connection with the acquisition contain various covenants that impose restrictions on us and certain of our subsidiaries that may affect our ability to operate our businesses .', 'the agreements that govern the indebtedness incurred or assumed in connection with the carefusion transaction contain various affirmative and negative covenants that may , subject to certain significant exceptions , restrict our ability and the ability of certain of our subsidiaries ( including carefusion ) to , among other things , have liens on their property , transact business with affiliates and/or merge or consolidate with any other person or sell or convey certain of our assets to any one person .', 'in addition , some of the agreements that govern our indebtedness contain financial covenants that will require us to maintain certain financial ratios .', 'our ability and the ability of our subsidiaries to comply with these provisions may be affected by events beyond our control .', 'failure to comply with these covenants could result in an event of default , which , if not cured or waived , could accelerate our repayment obligations .', 'item 1b .', 'unresolved staff comments .', 'item 2 .', 'properties .', 'bd 2019s executive offices are located in franklin lakes , new jersey .', 'as of october 31 , 2016 , bd owned or leased 255 facilities throughout the world , comprising approximately 19796011 square feet of manufacturing , warehousing , administrative and research facilities .', 'the u.s .', 'facilities , including those in puerto rico , comprise approximately 7459856 square feet of owned and 2923257 square feet of leased space .', 'the international facilities comprise approximately 7189652 square feet of owned and 2223245 square feet of leased space .', 'sales offices and distribution centers included in the total square footage are also located throughout the world .', 'operations in each of bd 2019s business segments are conducted at both u.s .', 'and international locations .', 'particularly in the international marketplace , facilities often serve more than one business segment and are used for multiple purposes , such as administrative/sales , manufacturing and/or warehousing/distribution .', 'bd generally seeks to own its manufacturing facilities , although some are leased .', 'the following table summarizes property information by business segment. .'] ## Data Table: sites | corporate | bd life sciences | bd medical | mixed ( a ) | total ----------|----------|----------|----------|----------|---------- leased | 11 | 19 | 75 | 92 | 195 owned | 3 | 15 | 31 | 121 | 60 total | 14 | 34 | 106 | 103 | 255 square feet | 1425720 | 4337963 | 9891908 | 4140420 | 19796011 ## Post-table: ['( a ) facilities used by more than one business segment .', 'bd believes that its facilities are of good construction and in good physical condition , are suitable and adequate for the operations conducted at those facilities , and are , with minor exceptions , fully utilized and operating at normal capacity .', 'the u.s .', 'facilities are located in alabama , arizona , california , connecticut , florida , georgia , illinois , indiana , maryland , massachusetts , michigan , nebraska , new jersey , north carolina , ohio , oklahoma , south carolina , texas , utah , virginia , washington , d.c. , washington , wisconsin and puerto rico .', 'the international facilities are as follows : - europe , middle east , africa , which includes facilities in austria , belgium , bosnia and herzegovina , the czech republic , denmark , england , finland , france , germany , ghana , hungary , ireland , italy , kenya , luxembourg , netherlands , norway , poland , portugal , russia , saudi arabia , south africa , spain , sweden , switzerland , turkey , the united arab emirates and zambia. .']

0.76381

BDX/2016/page_21.pdf-2

['the agreements that govern the indebtedness incurred or assumed in connection with the acquisition contain various covenants that impose restrictions on us and certain of our subsidiaries that may affect our ability to operate our businesses .', 'the agreements that govern the indebtedness incurred or assumed in connection with the carefusion transaction contain various affirmative and negative covenants that may , subject to certain significant exceptions , restrict our ability and the ability of certain of our subsidiaries ( including carefusion ) to , among other things , have liens on their property , transact business with affiliates and/or merge or consolidate with any other person or sell or convey certain of our assets to any one person .', 'in addition , some of the agreements that govern our indebtedness contain financial covenants that will require us to maintain certain financial ratios .', 'our ability and the ability of our subsidiaries to comply with these provisions may be affected by events beyond our control .', 'failure to comply with these covenants could result in an event of default , which , if not cured or waived , could accelerate our repayment obligations .', 'item 1b .', 'unresolved staff comments .', 'item 2 .', 'properties .', 'bd 2019s executive offices are located in franklin lakes , new jersey .', 'as of october 31 , 2016 , bd owned or leased 255 facilities throughout the world , comprising approximately 19796011 square feet of manufacturing , warehousing , administrative and research facilities .', 'the u.s .', 'facilities , including those in puerto rico , comprise approximately 7459856 square feet of owned and 2923257 square feet of leased space .', 'the international facilities comprise approximately 7189652 square feet of owned and 2223245 square feet of leased space .', 'sales offices and distribution centers included in the total square footage are also located throughout the world .', 'operations in each of bd 2019s business segments are conducted at both u.s .', 'and international locations .', 'particularly in the international marketplace , facilities often serve more than one business segment and are used for multiple purposes , such as administrative/sales , manufacturing and/or warehousing/distribution .', 'bd generally seeks to own its manufacturing facilities , although some are leased .', 'the following table summarizes property information by business segment. .']

['( a ) facilities used by more than one business segment .', 'bd believes that its facilities are of good construction and in good physical condition , are suitable and adequate for the operations conducted at those facilities , and are , with minor exceptions , fully utilized and operating at normal capacity .', 'the u.s .', 'facilities are located in alabama , arizona , california , connecticut , florida , georgia , illinois , indiana , maryland , massachusetts , michigan , nebraska , new jersey , north carolina , ohio , oklahoma , south carolina , texas , utah , virginia , washington , d.c. , washington , wisconsin and puerto rico .', 'the international facilities are as follows : - europe , middle east , africa , which includes facilities in austria , belgium , bosnia and herzegovina , the czech republic , denmark , england , finland , france , germany , ghana , hungary , ireland , italy , kenya , luxembourg , netherlands , norway , poland , portugal , russia , saudi arabia , south africa , spain , sweden , switzerland , turkey , the united arab emirates and zambia. .']

sites | corporate | bd life sciences | bd medical | mixed ( a ) | total ----------|----------|----------|----------|----------|---------- leased | 11 | 19 | 75 | 92 | 195 owned | 3 | 15 | 31 | 121 | 60 total | 14 | 34 | 106 | 103 | 255 square feet | 1425720 | 4337963 | 9891908 | 4140420 | 19796011

add(7189652, 2223245), divide(7189652, #0)

0.76381

what is the increase observed in the balance at the end of the year during 2005 and 2004?

Context: ['federal realty investment trust schedule iii summary of real estate and accumulated depreciation 2014continued three years ended december 31 , 2005 reconciliation of accumulated depreciation and amortization .'] ------ Data Table: Row 1: balance december 31 2002, $ 450697000 Row 2: additions during period 2014depreciation and amortization expense, 68125000 Row 3: deductions during period 2014disposition and retirements of property, -4645000 ( 4645000 ) Row 4: balance december 31 2003, 514177000 Row 5: additions during period 2014depreciation and amortization expense, 82551000 Row 6: deductions during period 2014disposition and retirements of property, -1390000 ( 1390000 ) Row 7: balance december 31 2004, 595338000 Row 8: additions during period 2014depreciation and amortization expense, 83656000 Row 9: deductions during period 2014disposition and retirements of property, -15244000 ( 15244000 ) Row 10: balance december 31 2005, $ 663750000 ------ Additional Information: ['.']

0.11491

FRT/2005/page_117.pdf-2

['federal realty investment trust schedule iii summary of real estate and accumulated depreciation 2014continued three years ended december 31 , 2005 reconciliation of accumulated depreciation and amortization .']

['.']

Row 1: balance december 31 2002, $ 450697000 Row 2: additions during period 2014depreciation and amortization expense, 68125000 Row 3: deductions during period 2014disposition and retirements of property, -4645000 ( 4645000 ) Row 4: balance december 31 2003, 514177000 Row 5: additions during period 2014depreciation and amortization expense, 82551000 Row 6: deductions during period 2014disposition and retirements of property, -1390000 ( 1390000 ) Row 7: balance december 31 2004, 595338000 Row 8: additions during period 2014depreciation and amortization expense, 83656000 Row 9: deductions during period 2014disposition and retirements of property, -15244000 ( 15244000 ) Row 10: balance december 31 2005, $ 663750000

divide(663750000, 595338000), subtract(#0, const_1)

0.11491

what is the growth rate in net revenue from 2009 to 2010?

Background: ['entergy new orleans , inc .', 'management 2019s financial discussion and analysis the volume/weather variance is primarily due to an increase in electricity usage in the residential and commercial sectors due in part to a 4% ( 4 % ) increase in the average number of residential customers and a 3% ( 3 % ) increase in the average number of commercial customers , partially offset by the effect of less favorable weather on residential sales .', 'gross operating revenues gross operating revenues decreased primarily due to : a decrease of $ 16.2 million in electric fuel cost recovery revenues due to lower fuel rates ; a decrease of $ 15.4 million in gross gas revenues primarily due to lower fuel cost recovery revenues as a result of lower fuel rates and the effect of milder weather ; and formula rate plan decreases effective october 2010 and october 2011 , as discussed above .', 'the decrease was partially offset by an increase in gross wholesale revenue due to increased sales to affiliated customers and more favorable volume/weather , as discussed above .', '2010 compared to 2009 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 2010 to 2009 .', 'amount ( in millions ) .'] Tabular Data: **************************************** | amount ( in millions ) 2009 net revenue | $ 243.0 volume/weather | 17.0 net gas revenue | 14.2 effect of 2009 rate case settlement | -6.6 ( 6.6 ) other | 5.3 2010 net revenue | $ 272.9 **************************************** Additional Information: ['the volume/weather variance is primarily due to an increase of 348 gwh , or 7% ( 7 % ) , in billed retail electricity usage primarily due to more favorable weather compared to last year .', 'the net gas revenue variance is primarily due to more favorable weather compared to last year , along with the recognition of a gas regulatory asset associated with the settlement of entergy new orleans 2019s electric and gas formula rate plans .', 'see note 2 to the financial statements for further discussion of the formula rate plan settlement .', 'the effect of 2009 rate case settlement variance results from the april 2009 settlement of entergy new orleans 2019s rate case , and includes the effects of realigning non-fuel costs associated with the operation of grand gulf from the fuel adjustment clause to electric base rates effective june 2009 .', 'see note 2 to the financial statements for further discussion of the rate case settlement .', 'other income statement variances 2011 compared to 2010 other operation and maintenance expenses decreased primarily due to the deferral in 2011 of $ 13.4 million of 2010 michoud plant maintenance costs pursuant to the settlement of entergy new orleans 2019s 2010 test year formula rate plan filing approved by the city council in september 2011 and a decrease of $ 8.0 million in fossil- fueled generation expenses due to higher plant outage costs in 2010 due to a greater scope of work at the michoud plant .', 'see note 2 to the financial statements for more discussion of the 2010 test year formula rate plan filing. .']

0.12305

ETR/2011/page_359.pdf-2

['entergy new orleans , inc .', 'management 2019s financial discussion and analysis the volume/weather variance is primarily due to an increase in electricity usage in the residential and commercial sectors due in part to a 4% ( 4 % ) increase in the average number of residential customers and a 3% ( 3 % ) increase in the average number of commercial customers , partially offset by the effect of less favorable weather on residential sales .', 'gross operating revenues gross operating revenues decreased primarily due to : a decrease of $ 16.2 million in electric fuel cost recovery revenues due to lower fuel rates ; a decrease of $ 15.4 million in gross gas revenues primarily due to lower fuel cost recovery revenues as a result of lower fuel rates and the effect of milder weather ; and formula rate plan decreases effective october 2010 and october 2011 , as discussed above .', 'the decrease was partially offset by an increase in gross wholesale revenue due to increased sales to affiliated customers and more favorable volume/weather , as discussed above .', '2010 compared to 2009 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 2010 to 2009 .', 'amount ( in millions ) .']

['the volume/weather variance is primarily due to an increase of 348 gwh , or 7% ( 7 % ) , in billed retail electricity usage primarily due to more favorable weather compared to last year .', 'the net gas revenue variance is primarily due to more favorable weather compared to last year , along with the recognition of a gas regulatory asset associated with the settlement of entergy new orleans 2019s electric and gas formula rate plans .', 'see note 2 to the financial statements for further discussion of the formula rate plan settlement .', 'the effect of 2009 rate case settlement variance results from the april 2009 settlement of entergy new orleans 2019s rate case , and includes the effects of realigning non-fuel costs associated with the operation of grand gulf from the fuel adjustment clause to electric base rates effective june 2009 .', 'see note 2 to the financial statements for further discussion of the rate case settlement .', 'other income statement variances 2011 compared to 2010 other operation and maintenance expenses decreased primarily due to the deferral in 2011 of $ 13.4 million of 2010 michoud plant maintenance costs pursuant to the settlement of entergy new orleans 2019s 2010 test year formula rate plan filing approved by the city council in september 2011 and a decrease of $ 8.0 million in fossil- fueled generation expenses due to higher plant outage costs in 2010 due to a greater scope of work at the michoud plant .', 'see note 2 to the financial statements for more discussion of the 2010 test year formula rate plan filing. .']

**************************************** | amount ( in millions ) 2009 net revenue | $ 243.0 volume/weather | 17.0 net gas revenue | 14.2 effect of 2009 rate case settlement | -6.6 ( 6.6 ) other | 5.3 2010 net revenue | $ 272.9 ****************************************

subtract(272.9, 243.0), divide(#0, 243.0)

0.12305

what portion of the total long-term debt is reported in the current liabilities section of the balance sheet as of december 31 , 2017?

Context: ['fidelity national information services , inc .', 'and subsidiaries notes to consolidated financial statements - ( continued ) the following summarizes the aggregate maturities of our debt and capital leases on stated contractual maturities , excluding unamortized non-cash bond premiums and discounts net of $ 30 million as of december 31 , 2017 ( in millions ) : .'] ---- Data Table: total 2018 $ 1045 2019 44 2020 1157 2021 1546 2022 705 thereafter 4349 total principal payments 8846 debt issuance costs net of accumulated amortization -53 ( 53 ) total long-term debt $ 8793 ---- Additional Information: ['there are no mandatory principal payments on the revolving loan and any balance outstanding on the revolving loan will be due and payable at its scheduled maturity date , which occurs at august 10 , 2021 .', 'fis may redeem the 2018 notes , 2020 notes , 2021 notes , 2021 euro notes , 2022 notes , 2022 gbp notes , 2023 notes , 2024 notes , 2024 euro notes , 2025 notes , 2026 notes , and 2046 notes at its option in whole or in part , at any time and from time to time , at a redemption price equal to the greater of 100% ( 100 % ) of the principal amount to be redeemed and a make-whole amount calculated as described in the related indenture in each case plus accrued and unpaid interest to , but excluding , the date of redemption , provided no make-whole amount will be paid for redemptions of the 2020 notes , the 2021 notes , the 2021 euro notes and the 2022 gbp notes during the one month prior to their maturity , the 2022 notes during the two months prior to their maturity , the 2023 notes , the 2024 notes , the 2024 euro notes , the 2025 notes , and the 2026 notes during the three months prior to their maturity , and the 2046 notes during the six months prior to their maturity .', 'debt issuance costs of $ 53 million , net of accumulated amortization , remain capitalized as of december 31 , 2017 , related to all of the above outstanding debt .', 'we monitor the financial stability of our counterparties on an ongoing basis .', 'the lender commitments under the undrawn portions of the revolving loan are comprised of a diversified set of financial institutions , both domestic and international .', 'the failure of any single lender to perform its obligations under the revolving loan would not adversely impact our ability to fund operations .', 'the fair value of the company 2019s long-term debt is estimated to be approximately $ 156 million higher than the carrying value as of december 31 , 2017 .', 'this estimate is based on quoted prices of our senior notes and trades of our other debt in close proximity to december 31 , 2017 , which are considered level 2-type measurements .', 'this estimate is subjective in nature and involves uncertainties and significant judgment in the interpretation of current market data .', 'therefore , the values presented are not necessarily indicative of amounts the company could realize or settle currently. .']

0.11884

FIS/2017/page_92.pdf-1

['fidelity national information services , inc .', 'and subsidiaries notes to consolidated financial statements - ( continued ) the following summarizes the aggregate maturities of our debt and capital leases on stated contractual maturities , excluding unamortized non-cash bond premiums and discounts net of $ 30 million as of december 31 , 2017 ( in millions ) : .']

['there are no mandatory principal payments on the revolving loan and any balance outstanding on the revolving loan will be due and payable at its scheduled maturity date , which occurs at august 10 , 2021 .', 'fis may redeem the 2018 notes , 2020 notes , 2021 notes , 2021 euro notes , 2022 notes , 2022 gbp notes , 2023 notes , 2024 notes , 2024 euro notes , 2025 notes , 2026 notes , and 2046 notes at its option in whole or in part , at any time and from time to time , at a redemption price equal to the greater of 100% ( 100 % ) of the principal amount to be redeemed and a make-whole amount calculated as described in the related indenture in each case plus accrued and unpaid interest to , but excluding , the date of redemption , provided no make-whole amount will be paid for redemptions of the 2020 notes , the 2021 notes , the 2021 euro notes and the 2022 gbp notes during the one month prior to their maturity , the 2022 notes during the two months prior to their maturity , the 2023 notes , the 2024 notes , the 2024 euro notes , the 2025 notes , and the 2026 notes during the three months prior to their maturity , and the 2046 notes during the six months prior to their maturity .', 'debt issuance costs of $ 53 million , net of accumulated amortization , remain capitalized as of december 31 , 2017 , related to all of the above outstanding debt .', 'we monitor the financial stability of our counterparties on an ongoing basis .', 'the lender commitments under the undrawn portions of the revolving loan are comprised of a diversified set of financial institutions , both domestic and international .', 'the failure of any single lender to perform its obligations under the revolving loan would not adversely impact our ability to fund operations .', 'the fair value of the company 2019s long-term debt is estimated to be approximately $ 156 million higher than the carrying value as of december 31 , 2017 .', 'this estimate is based on quoted prices of our senior notes and trades of our other debt in close proximity to december 31 , 2017 , which are considered level 2-type measurements .', 'this estimate is subjective in nature and involves uncertainties and significant judgment in the interpretation of current market data .', 'therefore , the values presented are not necessarily indicative of amounts the company could realize or settle currently. .']

total 2018 $ 1045 2019 44 2020 1157 2021 1546 2022 705 thereafter 4349 total principal payments 8846 debt issuance costs net of accumulated amortization -53 ( 53 ) total long-term debt $ 8793

divide(1045, 8793)

0.11884

what is the percentage change in the balance of reinsurance receivables and premium receivables from 2013 to 2014?

Pre-text: ['b .', 'investments .', 'fixed maturity and equity security investments available for sale , at market value , reflect unrealized appreciation and depreciation , as a result of temporary changes in market value during the period , in shareholders 2019 equity , net of income taxes in 201caccumulated other comprehensive income ( loss ) 201d in the consolidated balance sheets .', 'fixed maturity and equity securities carried at fair value reflect fair value re- measurements as net realized capital gains and losses in the consolidated statements of operations and comprehensive income ( loss ) .', 'the company records changes in fair value for its fixed maturities available for sale , at market value through shareholders 2019 equity , net of taxes in accumulated other comprehensive income ( loss ) since cash flows from these investments will be primarily used to settle its reserve for losses and loss adjustment expense liabilities .', 'the company anticipates holding these investments for an extended period as the cash flow from interest and maturities will fund the projected payout of these liabilities .', 'fixed maturities carried at fair value represent a portfolio of convertible bond securities , which have characteristics similar to equity securities and at times , designated foreign denominated fixed maturity securities , which will be used to settle loss and loss adjustment reserves in the same currency .', 'the company carries all of its equity securities at fair value except for mutual fund investments whose underlying investments are comprised of fixed maturity securities .', 'for equity securities , available for sale , at fair value , the company reflects changes in value as net realized capital gains and losses since these securities may be sold in the near term depending on financial market conditions .', 'interest income on all fixed maturities and dividend income on all equity securities are included as part of net investment income in the consolidated statements of operations and comprehensive income ( loss ) .', 'unrealized losses on fixed maturities , which are deemed other-than-temporary and related to the credit quality of a security , are charged to net income ( loss ) as net realized capital losses .', 'short-term investments are stated at cost , which approximates market value .', 'realized gains or losses on sales of investments are determined on the basis of identified cost .', 'for non- publicly traded securities , market prices are determined through the use of pricing models that evaluate securities relative to the u.s .', 'treasury yield curve , taking into account the issue type , credit quality , and cash flow characteristics of each security .', 'for publicly traded securities , market value is based on quoted market prices or valuation models that use observable market inputs .', 'when a sector of the financial markets is inactive or illiquid , the company may use its own assumptions about future cash flows and risk-adjusted discount rates to determine fair value .', 'retrospective adjustments are employed to recalculate the values of asset-backed securities .', 'each acquisition lot is reviewed to recalculate the effective yield .', 'the recalculated effective yield is used to derive a book value as if the new yield were applied at the time of acquisition .', 'outstanding principal factors from the time of acquisition to the adjustment date are used to calculate the prepayment history for all applicable securities .', 'conditional prepayment rates , computed with life to date factor histories and weighted average maturities , are used to effect the calculation of projected and prepayments for pass-through security types .', 'other invested assets include limited partnerships and rabbi trusts .', 'limited partnerships are accounted for under the equity method of accounting , which can be recorded on a monthly or quarterly lag .', 'c .', 'uncollectible receivable balances .', 'the company provides reserves for uncollectible reinsurance recoverable and premium receivable balances based on management 2019s assessment of the collectability of the outstanding balances .', 'such reserves are presented in the table below for the periods indicated. .'] -- Data Table: ======================================== ( dollars in thousands ) | years ended december 31 , 2014 | years ended december 31 , 2013 reinsurance receivables and premium receivables | $ 29497 | $ 29905 ======================================== -- Follow-up: ['.']

-0.01364

RE/2014/page_106.pdf-4

['b .', 'investments .', 'fixed maturity and equity security investments available for sale , at market value , reflect unrealized appreciation and depreciation , as a result of temporary changes in market value during the period , in shareholders 2019 equity , net of income taxes in 201caccumulated other comprehensive income ( loss ) 201d in the consolidated balance sheets .', 'fixed maturity and equity securities carried at fair value reflect fair value re- measurements as net realized capital gains and losses in the consolidated statements of operations and comprehensive income ( loss ) .', 'the company records changes in fair value for its fixed maturities available for sale , at market value through shareholders 2019 equity , net of taxes in accumulated other comprehensive income ( loss ) since cash flows from these investments will be primarily used to settle its reserve for losses and loss adjustment expense liabilities .', 'the company anticipates holding these investments for an extended period as the cash flow from interest and maturities will fund the projected payout of these liabilities .', 'fixed maturities carried at fair value represent a portfolio of convertible bond securities , which have characteristics similar to equity securities and at times , designated foreign denominated fixed maturity securities , which will be used to settle loss and loss adjustment reserves in the same currency .', 'the company carries all of its equity securities at fair value except for mutual fund investments whose underlying investments are comprised of fixed maturity securities .', 'for equity securities , available for sale , at fair value , the company reflects changes in value as net realized capital gains and losses since these securities may be sold in the near term depending on financial market conditions .', 'interest income on all fixed maturities and dividend income on all equity securities are included as part of net investment income in the consolidated statements of operations and comprehensive income ( loss ) .', 'unrealized losses on fixed maturities , which are deemed other-than-temporary and related to the credit quality of a security , are charged to net income ( loss ) as net realized capital losses .', 'short-term investments are stated at cost , which approximates market value .', 'realized gains or losses on sales of investments are determined on the basis of identified cost .', 'for non- publicly traded securities , market prices are determined through the use of pricing models that evaluate securities relative to the u.s .', 'treasury yield curve , taking into account the issue type , credit quality , and cash flow characteristics of each security .', 'for publicly traded securities , market value is based on quoted market prices or valuation models that use observable market inputs .', 'when a sector of the financial markets is inactive or illiquid , the company may use its own assumptions about future cash flows and risk-adjusted discount rates to determine fair value .', 'retrospective adjustments are employed to recalculate the values of asset-backed securities .', 'each acquisition lot is reviewed to recalculate the effective yield .', 'the recalculated effective yield is used to derive a book value as if the new yield were applied at the time of acquisition .', 'outstanding principal factors from the time of acquisition to the adjustment date are used to calculate the prepayment history for all applicable securities .', 'conditional prepayment rates , computed with life to date factor histories and weighted average maturities , are used to effect the calculation of projected and prepayments for pass-through security types .', 'other invested assets include limited partnerships and rabbi trusts .', 'limited partnerships are accounted for under the equity method of accounting , which can be recorded on a monthly or quarterly lag .', 'c .', 'uncollectible receivable balances .', 'the company provides reserves for uncollectible reinsurance recoverable and premium receivable balances based on management 2019s assessment of the collectability of the outstanding balances .', 'such reserves are presented in the table below for the periods indicated. .']

['.']

======================================== ( dollars in thousands ) | years ended december 31 , 2014 | years ended december 31 , 2013 reinsurance receivables and premium receivables | $ 29497 | $ 29905 ========================================

subtract(29497, 29905), divide(#0, 29905)

-0.01364

the pretax pension expenses that reduced primarily due to the amortization impact of the favorable 2009 investment returns as compared with the expected long-term return assumption resulted in how much of a decreased expense from 2009 to 2010 , in millions?

Background: ['investment policy , which is described more fully in note 15 employee benefit plans in the notes to consolidated financial statements in item 8 of this report .', 'we calculate the expense associated with the pension plan and the assumptions and methods that we use include a policy of reflecting trust assets at their fair market value .', 'on an annual basis , we review the actuarial assumptions related to the pension plan , including the discount rate , the rate of compensation increase and the expected return on plan assets .', 'the discount rate and compensation increase assumptions do not significantly affect pension expense .', 'however , the expected long-term return on assets assumption does significantly affect pension expense .', 'our expected long- term return on plan assets for determining net periodic pension expense has been 8.25% ( 8.25 % ) for the past three years .', 'the expected return on plan assets is a long-term assumption established by considering historical and anticipated returns of the asset classes invested in by the pension plan and the allocation strategy currently in place among those classes .', 'while this analysis gives appropriate consideration to recent asset performance and historical returns , the assumption represents a long-term prospective return .', 'we review this assumption at each measurement date and adjust it if warranted .', 'for purposes of setting and reviewing this assumption , 201clong- term 201d refers to the period over which the plan 2019s projected benefit obligation will be disbursed .', 'while year-to-year annual returns can vary significantly ( rates of return for the reporting years of 2009 , 2008 , and 2007 were +20.61% ( +20.61 % ) , -32.91% ( -32.91 % ) , and +7.57% ( +7.57 % ) , respectively ) , the assumption represents our estimate of long-term average prospective returns .', 'our selection process references certain historical data and the current environment , but primarily utilizes qualitative judgment regarding future return expectations .', 'recent annual returns may differ but , recognizing the volatility and unpredictability of investment returns , we generally do not change the assumption unless we modify our investment strategy or identify events that would alter our expectations of future returns .', 'to evaluate the continued reasonableness of our assumption , we examine a variety of viewpoints and data .', 'various studies have shown that portfolios comprised primarily of us equity securities have returned approximately 10% ( 10 % ) over long periods of time , while us debt securities have returned approximately 6% ( 6 % ) annually over long periods .', 'application of these historical returns to the plan 2019s allocation of equities and bonds produces a result between 8% ( 8 % ) and 8.5% ( 8.5 % ) and is one point of reference , among many other factors , that is taken into consideration .', 'we also examine the plan 2019s actual historical returns over various periods .', 'recent experience is considered in our evaluation with appropriate consideration that , especially for short time periods , recent returns are not reliable indicators of future returns , and in many cases low returns in recent time periods are followed by higher returns in future periods ( and vice versa ) .', 'acknowledging the potentially wide range for this assumption , we also annually examine the assumption used by other companies with similar pension investment strategies , so that we can ascertain whether our determinations markedly differ from other observers .', 'in all cases , however , this data simply informs our process , which places the greatest emphasis on our qualitative judgment of future investment returns , given the conditions existing at each annual measurement date .', 'the expected long-term return on plan assets for determining net periodic pension cost for 2009 was 8.25% ( 8.25 % ) , unchanged from 2008 .', 'during 2010 , we intend to decrease the midpoint of the plan 2019s target allocation range for equities by approximately five percentage points .', 'as a result of this change and taking into account all other factors described above , pnc will change the expected long-term return on plan assets to 8.00% ( 8.00 % ) for determining net periodic pension cost for 2010 .', 'under current accounting rules , the difference between expected long-term returns and actual returns is accumulated and amortized to pension expense over future periods .', 'each one percentage point difference in actual return compared with our expected return causes expense in subsequent years to change by up to $ 8 million as the impact is amortized into results of operations .', 'the table below reflects the estimated effects on pension expense of certain changes in annual assumptions , using 2010 estimated expense as a baseline .', 'change in assumption ( a ) estimated increase to 2010 pension expense ( in millions ) .'] Tabular Data: **************************************** change in assumption ( a ) | estimatedincrease to 2010pensionexpense ( inmillions ) .5% ( .5 % ) decrease in discount rate | $ 10 .5% ( .5 % ) decrease in expected long-term return on assets | $ 18 .5% ( .5 % ) increase in compensation rate | $ 3 **************************************** Additional Information: ['( a ) the impact is the effect of changing the specified assumption while holding all other assumptions constant .', 'we currently estimate a pretax pension expense of $ 41 million in 2010 compared with pretax expense of $ 117 million in 2009 .', 'this year-over-year reduction was primarily due to the amortization impact of the favorable 2009 investment returns as compared with the expected long-term return assumption .', 'our pension plan contribution requirements are not particularly sensitive to actuarial assumptions .', 'investment performance has the most impact on contribution requirements and will drive the amount of permitted contributions in future years .', 'also , current law , including the provisions of the pension protection act of 2006 , sets limits as to both minimum and maximum contributions to the plan .', 'we expect that the minimum required contributions under the law will be zero for 2010 .', 'we maintain other defined benefit plans that have a less significant effect on financial results , including various .']

76.0

PNC/2009/page_68.pdf-1

['investment policy , which is described more fully in note 15 employee benefit plans in the notes to consolidated financial statements in item 8 of this report .', 'we calculate the expense associated with the pension plan and the assumptions and methods that we use include a policy of reflecting trust assets at their fair market value .', 'on an annual basis , we review the actuarial assumptions related to the pension plan , including the discount rate , the rate of compensation increase and the expected return on plan assets .', 'the discount rate and compensation increase assumptions do not significantly affect pension expense .', 'however , the expected long-term return on assets assumption does significantly affect pension expense .', 'our expected long- term return on plan assets for determining net periodic pension expense has been 8.25% ( 8.25 % ) for the past three years .', 'the expected return on plan assets is a long-term assumption established by considering historical and anticipated returns of the asset classes invested in by the pension plan and the allocation strategy currently in place among those classes .', 'while this analysis gives appropriate consideration to recent asset performance and historical returns , the assumption represents a long-term prospective return .', 'we review this assumption at each measurement date and adjust it if warranted .', 'for purposes of setting and reviewing this assumption , 201clong- term 201d refers to the period over which the plan 2019s projected benefit obligation will be disbursed .', 'while year-to-year annual returns can vary significantly ( rates of return for the reporting years of 2009 , 2008 , and 2007 were +20.61% ( +20.61 % ) , -32.91% ( -32.91 % ) , and +7.57% ( +7.57 % ) , respectively ) , the assumption represents our estimate of long-term average prospective returns .', 'our selection process references certain historical data and the current environment , but primarily utilizes qualitative judgment regarding future return expectations .', 'recent annual returns may differ but , recognizing the volatility and unpredictability of investment returns , we generally do not change the assumption unless we modify our investment strategy or identify events that would alter our expectations of future returns .', 'to evaluate the continued reasonableness of our assumption , we examine a variety of viewpoints and data .', 'various studies have shown that portfolios comprised primarily of us equity securities have returned approximately 10% ( 10 % ) over long periods of time , while us debt securities have returned approximately 6% ( 6 % ) annually over long periods .', 'application of these historical returns to the plan 2019s allocation of equities and bonds produces a result between 8% ( 8 % ) and 8.5% ( 8.5 % ) and is one point of reference , among many other factors , that is taken into consideration .', 'we also examine the plan 2019s actual historical returns over various periods .', 'recent experience is considered in our evaluation with appropriate consideration that , especially for short time periods , recent returns are not reliable indicators of future returns , and in many cases low returns in recent time periods are followed by higher returns in future periods ( and vice versa ) .', 'acknowledging the potentially wide range for this assumption , we also annually examine the assumption used by other companies with similar pension investment strategies , so that we can ascertain whether our determinations markedly differ from other observers .', 'in all cases , however , this data simply informs our process , which places the greatest emphasis on our qualitative judgment of future investment returns , given the conditions existing at each annual measurement date .', 'the expected long-term return on plan assets for determining net periodic pension cost for 2009 was 8.25% ( 8.25 % ) , unchanged from 2008 .', 'during 2010 , we intend to decrease the midpoint of the plan 2019s target allocation range for equities by approximately five percentage points .', 'as a result of this change and taking into account all other factors described above , pnc will change the expected long-term return on plan assets to 8.00% ( 8.00 % ) for determining net periodic pension cost for 2010 .', 'under current accounting rules , the difference between expected long-term returns and actual returns is accumulated and amortized to pension expense over future periods .', 'each one percentage point difference in actual return compared with our expected return causes expense in subsequent years to change by up to $ 8 million as the impact is amortized into results of operations .', 'the table below reflects the estimated effects on pension expense of certain changes in annual assumptions , using 2010 estimated expense as a baseline .', 'change in assumption ( a ) estimated increase to 2010 pension expense ( in millions ) .']

['( a ) the impact is the effect of changing the specified assumption while holding all other assumptions constant .', 'we currently estimate a pretax pension expense of $ 41 million in 2010 compared with pretax expense of $ 117 million in 2009 .', 'this year-over-year reduction was primarily due to the amortization impact of the favorable 2009 investment returns as compared with the expected long-term return assumption .', 'our pension plan contribution requirements are not particularly sensitive to actuarial assumptions .', 'investment performance has the most impact on contribution requirements and will drive the amount of permitted contributions in future years .', 'also , current law , including the provisions of the pension protection act of 2006 , sets limits as to both minimum and maximum contributions to the plan .', 'we expect that the minimum required contributions under the law will be zero for 2010 .', 'we maintain other defined benefit plans that have a less significant effect on financial results , including various .']

**************************************** change in assumption ( a ) | estimatedincrease to 2010pensionexpense ( inmillions ) .5% ( .5 % ) decrease in discount rate | $ 10 .5% ( .5 % ) decrease in expected long-term return on assets | $ 18 .5% ( .5 % ) increase in compensation rate | $ 3 ****************************************

subtract(117, 41)

76.0

what is the total value of the granted shares in 2014 , ( in thousands )

Pre-text: ['the performance units granted to certain executives in fiscal 2014 were based on a one-year performance period .', 'after the compensation committee certified the performance results , 25% ( 25 % ) of the performance units converted to unrestricted shares .', 'the remaining 75% ( 75 % ) converted to restricted shares that vest in equal installments on each of the first three anniversaries of the conversion date .', 'the performance units granted to certain executives during fiscal 2015 were based on a three-year performance period .', 'after the compensation committee certifies the performance results for the three-year period , performance units earned will convert into unrestricted common stock .', 'the compensation committee may set a range of possible performance-based outcomes for performance units .', 'depending on the achievement of the performance measures , the grantee may earn up to 200% ( 200 % ) of the target number of shares .', 'for awards with only performance conditions , we recognize compensation expense over the performance period using the grant date fair value of the award , which is based on the number of shares expected to be earned according to the level of achievement of performance goals .', 'if the number of shares expected to be earned were to change at any time during the performance period , we would make a cumulative adjustment to share-based compensation expense based on the revised number of shares expected to be earned .', 'during fiscal 2015 , certain executives were granted performance units that we refer to as leveraged performance units , or lpus .', 'lpus contain a market condition based on our relative stock price growth over a three-year performance period .', 'the lpus contain a minimum threshold performance which , if not met , would result in no payout .', 'the lpus also contain a maximum award opportunity set as a fixed dollar and fixed number of shares .', 'after the three-year performance period , one-third of any earned units converts to unrestricted common stock .', 'the remaining two-thirds convert to restricted stock that will vest in equal installments on each of the first two anniversaries of the conversion date .', 'we recognize share-based compensation expense based on the grant date fair value of the lpus , as determined by use of a monte carlo model , on a straight-line basis over the requisite service period for each separately vesting portion of the lpu award .', 'total shareholder return units before fiscal 2015 , certain of our executives were granted total shareholder return ( 201ctsr 201d ) units , which are performance-based restricted stock units that are earned based on our total shareholder return over a three-year performance period compared to companies in the s&p 500 .', 'once the performance results are certified , tsr units convert into unrestricted common stock .', 'depending on our performance , the grantee may earn up to 200% ( 200 % ) of the target number of shares .', 'the target number of tsr units for each executive is set by the compensation committee .', 'we recognize share-based compensation expense based on the grant date fair value of the tsr units , as determined by use of a monte carlo model , on a straight-line basis over the vesting period .', 'the following table summarizes the changes in unvested share-based awards for the years ended may 31 , 2015 and 2014 ( shares in thousands ) : shares weighted-average grant-date fair value .'] ## Tabular Data: **************************************** | shares | weighted-averagegrant-datefair value ----------|----------|---------- unvested at may 31 2013 | 1096 | $ 44 granted | 544 | 47 vested | -643 ( 643 ) | 45 forfeited | -120 ( 120 ) | 45 unvested at may 31 2014 | 877 | 45 granted | 477 | 72 vested | -324 ( 324 ) | 46 forfeited | -106 ( 106 ) | 53 unvested at may 31 2015 | 924 | $ 58 **************************************** ## Additional Information: ['global payments inc .', '| 2015 form 10-k annual report 2013 81 .']

25568.0

GPN/2015/page_83.pdf-3

['the performance units granted to certain executives in fiscal 2014 were based on a one-year performance period .', 'after the compensation committee certified the performance results , 25% ( 25 % ) of the performance units converted to unrestricted shares .', 'the remaining 75% ( 75 % ) converted to restricted shares that vest in equal installments on each of the first three anniversaries of the conversion date .', 'the performance units granted to certain executives during fiscal 2015 were based on a three-year performance period .', 'after the compensation committee certifies the performance results for the three-year period , performance units earned will convert into unrestricted common stock .', 'the compensation committee may set a range of possible performance-based outcomes for performance units .', 'depending on the achievement of the performance measures , the grantee may earn up to 200% ( 200 % ) of the target number of shares .', 'for awards with only performance conditions , we recognize compensation expense over the performance period using the grant date fair value of the award , which is based on the number of shares expected to be earned according to the level of achievement of performance goals .', 'if the number of shares expected to be earned were to change at any time during the performance period , we would make a cumulative adjustment to share-based compensation expense based on the revised number of shares expected to be earned .', 'during fiscal 2015 , certain executives were granted performance units that we refer to as leveraged performance units , or lpus .', 'lpus contain a market condition based on our relative stock price growth over a three-year performance period .', 'the lpus contain a minimum threshold performance which , if not met , would result in no payout .', 'the lpus also contain a maximum award opportunity set as a fixed dollar and fixed number of shares .', 'after the three-year performance period , one-third of any earned units converts to unrestricted common stock .', 'the remaining two-thirds convert to restricted stock that will vest in equal installments on each of the first two anniversaries of the conversion date .', 'we recognize share-based compensation expense based on the grant date fair value of the lpus , as determined by use of a monte carlo model , on a straight-line basis over the requisite service period for each separately vesting portion of the lpu award .', 'total shareholder return units before fiscal 2015 , certain of our executives were granted total shareholder return ( 201ctsr 201d ) units , which are performance-based restricted stock units that are earned based on our total shareholder return over a three-year performance period compared to companies in the s&p 500 .', 'once the performance results are certified , tsr units convert into unrestricted common stock .', 'depending on our performance , the grantee may earn up to 200% ( 200 % ) of the target number of shares .', 'the target number of tsr units for each executive is set by the compensation committee .', 'we recognize share-based compensation expense based on the grant date fair value of the tsr units , as determined by use of a monte carlo model , on a straight-line basis over the vesting period .', 'the following table summarizes the changes in unvested share-based awards for the years ended may 31 , 2015 and 2014 ( shares in thousands ) : shares weighted-average grant-date fair value .']

['global payments inc .', '| 2015 form 10-k annual report 2013 81 .']

**************************************** | shares | weighted-averagegrant-datefair value ----------|----------|---------- unvested at may 31 2013 | 1096 | $ 44 granted | 544 | 47 vested | -643 ( 643 ) | 45 forfeited | -120 ( 120 ) | 45 unvested at may 31 2014 | 877 | 45 granted | 477 | 72 vested | -324 ( 324 ) | 46 forfeited | -106 ( 106 ) | 53 unvested at may 31 2015 | 924 | $ 58 ****************************************

multiply(544, 47)

25568.0

what was the percent of income taxes as part of the the total other accrued liabilities in 2012

Pre-text: ['notes to consolidated financial statements ( continued ) management performs detailed reviews of its receivables on a monthly and/or quarterly basis to assess the adequacy of the allowances based on historical and current trends and other factors affecting credit losses and to determine if any impairment has occurred .', 'a receivable is impaired when it is probable that all amounts related to the receivable will not be collected according to the contractual terms of the agreement .', 'in circumstances where the company is aware of a specific customer 2019s inability to meet its financial obligations , a specific reserve is recorded against amounts due to reduce the net recognized receivable to the amount reasonably expected to be collected .', 'additions to the allowances for doubtful accounts are maintained through adjustments to the provision for credit losses , which are charged to current period earnings ; amounts determined to be uncollectable are charged directly against the allowances , while amounts recovered on previously charged-off accounts increase the allowances .', 'net charge-offs include the principal amount of losses charged off as well as charged-off interest and fees .', 'recovered interest and fees previously charged-off are recorded through the allowances for doubtful accounts and increase the allowances .', 'finance receivables are assessed for charge- off when an account becomes 120 days past due and are charged-off typically within 60 days of asset repossession .', 'contract receivables related to equipment leases are generally charged-off when an account becomes 150 days past due , while contract receivables related to franchise finance and van leases are generally charged off up to 180 days past the asset return .', 'for finance and contract receivables , customer bankruptcies are generally charged-off upon notification that the associated debt is not being reaffirmed or , in any event , no later than 180 days past due .', 'snap-on does not believe that its trade accounts , finance or contract receivables represent significant concentrations of credit risk because of the diversified portfolio of individual customers and geographical areas .', 'see note 3 for further information on receivables and allowances for doubtful accounts .', 'other accrued liabilities : supplemental balance sheet information for 201cother accrued liabilities 201d as of 2012 and 2011 year end is as follows : ( amounts in millions ) 2012 2011 .'] ## Tabular Data: ( amounts in millions ) | 2012 | 2011 income taxes | $ 19.6 | $ 11.7 accrued restructuring | 7.2 | 8.4 accrued warranty | 18.9 | 18.6 deferred subscription revenue | 24.8 | 24.9 accrued property payroll and other tax | 32.9 | 30.4 accrued selling and promotion expense | 26.6 | 29.1 other | 117.9 | 132.8 total other accrued liabilities | $ 247.9 | $ 255.9 ## Additional Information: ['inventories : snap-on values its inventory at the lower of cost or market and adjusts for the value of inventory that is estimated to be excess , obsolete or otherwise unmarketable .', 'snap-on records allowances for excess and obsolete inventory based on historical and estimated future demand and market conditions .', 'allowances for raw materials are largely based on an analysis of raw material age and actual physical inspection of raw material for fitness for use .', 'as part of evaluating the adequacy of allowances for work-in-progress and finished goods , management reviews individual product stock-keeping units ( skus ) by product category and product life cycle .', 'cost adjustments for each product category/product life-cycle state are generally established and maintained based on a combination of historical experience , forecasted sales and promotions , technological obsolescence , inventory age and other actual known conditions and circumstances .', 'should actual product marketability and raw material fitness for use be affected by conditions that are different from management estimates , further adjustments to inventory allowances may be required .', 'snap-on adopted the 201clast-in , first-out 201d ( 201clifo 201d ) inventory valuation method in 1973 for its u.s .', 'locations .', 'snap-on 2019s u.s .', 'inventories accounted for on a lifo basis consist of purchased product and inventory manufactured at the company 2019s heritage u.s .', 'manufacturing facilities ( primarily hand tools and tool storage ) .', 'as snap-on began acquiring businesses in the 1990 2019s , the company retained the 201cfirst-in , first-out 201d ( 201cfifo 201d ) inventory valuation methodology used by the predecessor businesses prior to their acquisition by snap-on ; the company does not adopt the lifo inventory valuation methodology for new acquisitions .', 'see note 4 for further information on inventories .', '72 snap-on incorporated .']

0.07906

SNA/2012/page_82.pdf-1

['notes to consolidated financial statements ( continued ) management performs detailed reviews of its receivables on a monthly and/or quarterly basis to assess the adequacy of the allowances based on historical and current trends and other factors affecting credit losses and to determine if any impairment has occurred .', 'a receivable is impaired when it is probable that all amounts related to the receivable will not be collected according to the contractual terms of the agreement .', 'in circumstances where the company is aware of a specific customer 2019s inability to meet its financial obligations , a specific reserve is recorded against amounts due to reduce the net recognized receivable to the amount reasonably expected to be collected .', 'additions to the allowances for doubtful accounts are maintained through adjustments to the provision for credit losses , which are charged to current period earnings ; amounts determined to be uncollectable are charged directly against the allowances , while amounts recovered on previously charged-off accounts increase the allowances .', 'net charge-offs include the principal amount of losses charged off as well as charged-off interest and fees .', 'recovered interest and fees previously charged-off are recorded through the allowances for doubtful accounts and increase the allowances .', 'finance receivables are assessed for charge- off when an account becomes 120 days past due and are charged-off typically within 60 days of asset repossession .', 'contract receivables related to equipment leases are generally charged-off when an account becomes 150 days past due , while contract receivables related to franchise finance and van leases are generally charged off up to 180 days past the asset return .', 'for finance and contract receivables , customer bankruptcies are generally charged-off upon notification that the associated debt is not being reaffirmed or , in any event , no later than 180 days past due .', 'snap-on does not believe that its trade accounts , finance or contract receivables represent significant concentrations of credit risk because of the diversified portfolio of individual customers and geographical areas .', 'see note 3 for further information on receivables and allowances for doubtful accounts .', 'other accrued liabilities : supplemental balance sheet information for 201cother accrued liabilities 201d as of 2012 and 2011 year end is as follows : ( amounts in millions ) 2012 2011 .']

['inventories : snap-on values its inventory at the lower of cost or market and adjusts for the value of inventory that is estimated to be excess , obsolete or otherwise unmarketable .', 'snap-on records allowances for excess and obsolete inventory based on historical and estimated future demand and market conditions .', 'allowances for raw materials are largely based on an analysis of raw material age and actual physical inspection of raw material for fitness for use .', 'as part of evaluating the adequacy of allowances for work-in-progress and finished goods , management reviews individual product stock-keeping units ( skus ) by product category and product life cycle .', 'cost adjustments for each product category/product life-cycle state are generally established and maintained based on a combination of historical experience , forecasted sales and promotions , technological obsolescence , inventory age and other actual known conditions and circumstances .', 'should actual product marketability and raw material fitness for use be affected by conditions that are different from management estimates , further adjustments to inventory allowances may be required .', 'snap-on adopted the 201clast-in , first-out 201d ( 201clifo 201d ) inventory valuation method in 1973 for its u.s .', 'locations .', 'snap-on 2019s u.s .', 'inventories accounted for on a lifo basis consist of purchased product and inventory manufactured at the company 2019s heritage u.s .', 'manufacturing facilities ( primarily hand tools and tool storage ) .', 'as snap-on began acquiring businesses in the 1990 2019s , the company retained the 201cfirst-in , first-out 201d ( 201cfifo 201d ) inventory valuation methodology used by the predecessor businesses prior to their acquisition by snap-on ; the company does not adopt the lifo inventory valuation methodology for new acquisitions .', 'see note 4 for further information on inventories .', '72 snap-on incorporated .']

( amounts in millions ) | 2012 | 2011 income taxes | $ 19.6 | $ 11.7 accrued restructuring | 7.2 | 8.4 accrued warranty | 18.9 | 18.6 deferred subscription revenue | 24.8 | 24.9 accrued property payroll and other tax | 32.9 | 30.4 accrued selling and promotion expense | 26.6 | 29.1 other | 117.9 | 132.8 total other accrued liabilities | $ 247.9 | $ 255.9

divide(19.6, 247.9)

0.07906

based on the review of the comparison of the cumulative return among lkq corporation , what was the performance ratio the nasdaq stock to the lqk corporation in 2018

Context: ['comparison of cumulative return among lkq corporation , the nasdaq stock market ( u.s. ) index and the peer group .'] ######## Tabular Data: ======================================== | 12/31/2007 | 12/31/2008 | 12/31/2009 | 12/31/2010 | 12/31/2011 | 12/31/2012 ----------|----------|----------|----------|----------|----------|---------- lkq corporation | $ 100 | $ 55 | $ 93 | $ 108 | $ 143 | $ 201 nasdaq stock market ( u.s. ) index | $ 100 | $ 59 | $ 86 | $ 100 | $ 98 | $ 114 peer group | $ 100 | $ 83 | $ 100 | $ 139 | $ 187 | $ 210 ======================================== ######## Additional Information: ['this stock performance information is "furnished" and shall not be deemed to be "soliciting material" or subject to rule 14a , shall not be deemed "filed" for purposes of section 18 of the securities exchange act of 1934 or otherwise subject to the liabilities of that section , and shall not be deemed incorporated by reference in any filing under the securities act of 1933 or the securities exchange act of 1934 , whether made before or after the date of this report and irrespective of any general incorporation by reference language in any such filing , except to the extent that it specifically incorporates the information by reference .', 'information about our common stock that may be issued under our equity compensation plans as of december 31 , 2012 included in part iii , item 12 of this annual report on form 10-k is incorporated herein by reference. .']

0.68531

LKQ/2012/page_25.pdf-3

['comparison of cumulative return among lkq corporation , the nasdaq stock market ( u.s. ) index and the peer group .']

['this stock performance information is "furnished" and shall not be deemed to be "soliciting material" or subject to rule 14a , shall not be deemed "filed" for purposes of section 18 of the securities exchange act of 1934 or otherwise subject to the liabilities of that section , and shall not be deemed incorporated by reference in any filing under the securities act of 1933 or the securities exchange act of 1934 , whether made before or after the date of this report and irrespective of any general incorporation by reference language in any such filing , except to the extent that it specifically incorporates the information by reference .', 'information about our common stock that may be issued under our equity compensation plans as of december 31 , 2012 included in part iii , item 12 of this annual report on form 10-k is incorporated herein by reference. .']

======================================== | 12/31/2007 | 12/31/2008 | 12/31/2009 | 12/31/2010 | 12/31/2011 | 12/31/2012 ----------|----------|----------|----------|----------|----------|---------- lkq corporation | $ 100 | $ 55 | $ 93 | $ 108 | $ 143 | $ 201 nasdaq stock market ( u.s. ) index | $ 100 | $ 59 | $ 86 | $ 100 | $ 98 | $ 114 peer group | $ 100 | $ 83 | $ 100 | $ 139 | $ 187 | $ 210 ========================================

divide(98, 143)

0.68531

what was the percentage growth from 2013 to 2014 in the total accounts payable and other current liabilities

Background: ['the analysis of our depreciation studies .', 'changes in the estimated service lives of our assets and their related depreciation rates are implemented prospectively .', 'under group depreciation , the historical cost ( net of salvage ) of depreciable property that is retired or replaced in the ordinary course of business is charged to accumulated depreciation and no gain or loss is recognized .', 'the historical cost of certain track assets is estimated using ( i ) inflation indices published by the bureau of labor statistics and ( ii ) the estimated useful lives of the assets as determined by our depreciation studies .', 'the indices were selected because they closely correlate with the major costs of the properties comprising the applicable track asset classes .', 'because of the number of estimates inherent in the depreciation and retirement processes and because it is impossible to precisely estimate each of these variables until a group of property is completely retired , we continually monitor the estimated service lives of our assets and the accumulated depreciation associated with each asset class to ensure our depreciation rates are appropriate .', 'in addition , we determine if the recorded amount of accumulated depreciation is deficient ( or in excess ) of the amount indicated by our depreciation studies .', 'any deficiency ( or excess ) is amortized as a component of depreciation expense over the remaining service lives of the applicable classes of assets .', 'for retirements of depreciable railroad properties that do not occur in the normal course of business , a gain or loss may be recognized if the retirement meets each of the following three conditions : ( i ) is unusual , ( ii ) is material in amount , and ( iii ) varies significantly from the retirement profile identified through our depreciation studies .', 'a gain or loss is recognized in other income when we sell land or dispose of assets that are not part of our railroad operations .', 'when we purchase an asset , we capitalize all costs necessary to make the asset ready for its intended use .', 'however , many of our assets are self-constructed .', 'a large portion of our capital expenditures is for replacement of existing track assets and other road properties , which is typically performed by our employees , and for track line expansion and other capacity projects .', 'costs that are directly attributable to capital projects ( including overhead costs ) are capitalized .', 'direct costs that are capitalized as part of self- constructed assets include material , labor , and work equipment .', 'indirect costs are capitalized if they clearly relate to the construction of the asset .', 'general and administrative expenditures are expensed as incurred .', 'normal repairs and maintenance are also expensed as incurred , while costs incurred that extend the useful life of an asset , improve the safety of our operations or improve operating efficiency are capitalized .', 'these costs are allocated using appropriate statistical bases .', 'total expense for repairs and maintenance incurred was $ 2.4 billion for 2014 , $ 2.3 billion for 2013 , and $ 2.1 billion for 2012 .', 'assets held under capital leases are recorded at the lower of the net present value of the minimum lease payments or the fair value of the leased asset at the inception of the lease .', 'amortization expense is computed using the straight-line method over the shorter of the estimated useful lives of the assets or the period of the related lease .', '13 .', 'accounts payable and other current liabilities dec .', '31 , dec .', '31 , millions 2014 2013 .'] -- Table: **************************************** millions dec . 31 2014 dec . 312013 accounts payable $ 877 $ 803 dividends payable 438 356 income and other taxes payable 412 491 accrued wages and vacation 409 385 accrued casualty costs 249 207 interest payable 178 169 equipment rents payable 100 96 other 640 579 total accounts payable and othercurrent liabilities $ 3303 $ 3086 **************************************** -- Post-table: ['.']

0.07032

UNP/2014/page_75.pdf-1

['the analysis of our depreciation studies .', 'changes in the estimated service lives of our assets and their related depreciation rates are implemented prospectively .', 'under group depreciation , the historical cost ( net of salvage ) of depreciable property that is retired or replaced in the ordinary course of business is charged to accumulated depreciation and no gain or loss is recognized .', 'the historical cost of certain track assets is estimated using ( i ) inflation indices published by the bureau of labor statistics and ( ii ) the estimated useful lives of the assets as determined by our depreciation studies .', 'the indices were selected because they closely correlate with the major costs of the properties comprising the applicable track asset classes .', 'because of the number of estimates inherent in the depreciation and retirement processes and because it is impossible to precisely estimate each of these variables until a group of property is completely retired , we continually monitor the estimated service lives of our assets and the accumulated depreciation associated with each asset class to ensure our depreciation rates are appropriate .', 'in addition , we determine if the recorded amount of accumulated depreciation is deficient ( or in excess ) of the amount indicated by our depreciation studies .', 'any deficiency ( or excess ) is amortized as a component of depreciation expense over the remaining service lives of the applicable classes of assets .', 'for retirements of depreciable railroad properties that do not occur in the normal course of business , a gain or loss may be recognized if the retirement meets each of the following three conditions : ( i ) is unusual , ( ii ) is material in amount , and ( iii ) varies significantly from the retirement profile identified through our depreciation studies .', 'a gain or loss is recognized in other income when we sell land or dispose of assets that are not part of our railroad operations .', 'when we purchase an asset , we capitalize all costs necessary to make the asset ready for its intended use .', 'however , many of our assets are self-constructed .', 'a large portion of our capital expenditures is for replacement of existing track assets and other road properties , which is typically performed by our employees , and for track line expansion and other capacity projects .', 'costs that are directly attributable to capital projects ( including overhead costs ) are capitalized .', 'direct costs that are capitalized as part of self- constructed assets include material , labor , and work equipment .', 'indirect costs are capitalized if they clearly relate to the construction of the asset .', 'general and administrative expenditures are expensed as incurred .', 'normal repairs and maintenance are also expensed as incurred , while costs incurred that extend the useful life of an asset , improve the safety of our operations or improve operating efficiency are capitalized .', 'these costs are allocated using appropriate statistical bases .', 'total expense for repairs and maintenance incurred was $ 2.4 billion for 2014 , $ 2.3 billion for 2013 , and $ 2.1 billion for 2012 .', 'assets held under capital leases are recorded at the lower of the net present value of the minimum lease payments or the fair value of the leased asset at the inception of the lease .', 'amortization expense is computed using the straight-line method over the shorter of the estimated useful lives of the assets or the period of the related lease .', '13 .', 'accounts payable and other current liabilities dec .', '31 , dec .', '31 , millions 2014 2013 .']

['.']

**************************************** millions dec . 31 2014 dec . 312013 accounts payable $ 877 $ 803 dividends payable 438 356 income and other taxes payable 412 491 accrued wages and vacation 409 385 accrued casualty costs 249 207 interest payable 178 169 equipment rents payable 100 96 other 640 579 total accounts payable and othercurrent liabilities $ 3303 $ 3086 ****************************************

subtract(3303, 3086), divide(#0, 3086)

0.07032

considering the average exercise price of options , what is the estimated total value of stock options in 2018 , in millions of dollars?

Pre-text: ['the following shares were excluded from the calculation of average shares outstanding 2013 diluted as their effect was anti- dilutive ( shares in millions ) . .'] Data Table: ======================================== 2018 2017 2016 mandatory convertible preferred stock n/a 39 39 convertible notes 2014 14 14 stock options ( 1 ) 9 11 13 stock awards 2014 7 8 ======================================== Follow-up: ['( 1 ) the average exercise price of options per share was $ 26.79 , $ 33.32 , and $ 26.93 for 2018 , 2017 , and 2016 , respectively .', 'in 2017 , had arconic generated sufficient net income , 30 million , 14 million , 5 million , and 1 million potential shares of common stock related to the mandatory convertible preferred stock , convertible notes , stock awards , and stock options , respectively , would have been included in diluted average shares outstanding .', 'the mandatory convertible preferred stock converted on october 2 , 2017 ( see note i ) .', 'in 2016 , had arconic generated sufficient net income , 28 million , 10 million , 4 million , and 1 million potential shares of common stock related to the mandatory convertible preferred stock , convertible notes , stock awards , and stock options , respectively , would have been included in diluted average shares outstanding. .']

241.11

HWM/2018/page_96.pdf-1

['the following shares were excluded from the calculation of average shares outstanding 2013 diluted as their effect was anti- dilutive ( shares in millions ) . .']

['( 1 ) the average exercise price of options per share was $ 26.79 , $ 33.32 , and $ 26.93 for 2018 , 2017 , and 2016 , respectively .', 'in 2017 , had arconic generated sufficient net income , 30 million , 14 million , 5 million , and 1 million potential shares of common stock related to the mandatory convertible preferred stock , convertible notes , stock awards , and stock options , respectively , would have been included in diluted average shares outstanding .', 'the mandatory convertible preferred stock converted on october 2 , 2017 ( see note i ) .', 'in 2016 , had arconic generated sufficient net income , 28 million , 10 million , 4 million , and 1 million potential shares of common stock related to the mandatory convertible preferred stock , convertible notes , stock awards , and stock options , respectively , would have been included in diluted average shares outstanding. .']

======================================== 2018 2017 2016 mandatory convertible preferred stock n/a 39 39 convertible notes 2014 14 14 stock options ( 1 ) 9 11 13 stock awards 2014 7 8 ========================================

multiply(9, 26.79)

241.11

what is the total fair value impact of all instruments as of may 28 , 2006?

Background: ['item 7a quantitative and qualitative disclosures about market risk we are exposed to market risk stemming from changes in interest rates , foreign exchange rates , commodity prices and equity prices .', 'changes in these factors could cause fluctuations in our earnings and cash flows .', 'in the normal course of business , we actively manage our exposure to these market risks by entering into various hedging trans- actions , authorized under our policies that place clear controls on these activities .', 'the counterparties in these transactions are generally highly rated institutions .', 'we establish credit limits for each counterparty .', 'our hedging transactions include but are not limited to a variety of deriv- ative financial instruments .', 'interest rates we manage our debt structure and our interest rate risk through the use of fixed- and floating-rate debt and derivatives .', 'we use interest rate swaps and forward-starting interest rate swaps to hedge our exposure to interest rate changes and to reduce volatility of our financing costs .', 'generally under these swaps , we agree with a counterparty to exchange the difference between fixed- rate and floating-rate interest amounts based on an agreed notional principal amount .', 'our primary exposure is to u.s .', 'interest rates .', 'as of may 28 , 2006 , we had $ 7.0 billion of aggregate notional principal amount ( the principal amount on which the fixed or floating interest rate is calculated ) outstanding .', 'this includes notional amounts of offsetting swaps that neutralize our exposure to interest rates on other interest rate swaps .', 'see note six to the consolidated finan- cial statements on pages 40 through 42 in item eight of this report .', 'foreign currency rates foreign currency fluctuations can affect our net investments and earnings denominated in foreign currencies .', 'we primarily use foreign currency forward contracts and option contracts to selectively hedge our cash flow exposure to changes in exchange rates .', 'these contracts function as hedges , since they change in value inversely to the change created in the underlying exposure as foreign exchange rates fluctuate .', 'our primary u.s .', 'dollar exchange rate exposures are with the canadian dollar , the euro , the australian dollar , the mexican peso and the british pound .', 'commodities many commodities we use in the produc- tion and distribution of our products are exposed to market price risks .', 'we manage this market risk through an inte- grated set of financial instruments , including purchase orders , noncancelable contracts , futures contracts , options and swaps .', 'our primary commodity price exposures are to cereal grains , sugar , dairy products , vegetables , fruits , meats , vegetable oils , and other agricultural products , as well as paper and plastic packaging materials , operating supplies and energy .', 'equity instruments equity price movements affect our compensation expense as certain investments owned by our employees are revalued .', 'we use equity swaps to manage this market risk .', 'value at risk these estimates are intended to measure the maximum potential fair value we could lose in one day from adverse changes in market interest rates , foreign exchange rates , commodity prices , or equity prices under normal market conditions .', 'a monte carlo ( var ) method- ology was used to quantify the market risk for our exposures .', 'the models assumed normal market conditions and used a 95 percent confidence level .', 'the var calculation used historical interest rates , foreign exchange rates and commodity and equity prices from the past year to estimate the potential volatility and correlation of these rates in the future .', 'the market data were drawn from the riskmetricstm data set .', 'the calculations are not intended to represent actual losses in fair value that we expect to incur .', 'further , since the hedging instrument ( the derivative ) inversely correlates with the underlying expo- sure , we would expect that any loss or gain in the fair value of our derivatives would be generally offset by an increase or decrease in the fair value of the underlying exposures .', 'the positions included in the calculations were : debt ; invest- ments ; interest rate swaps ; foreign exchange forwards ; commodity swaps , futures and options ; and equity instru- ments .', 'the calculations do not include the underlying foreign exchange and commodities-related positions that are hedged by these market-risk-sensitive instruments .', 'the table below presents the estimated maximum poten- tial one-day loss in fair value for our interest rate , foreign currency , commodity and equity market-risk-sensitive instruments outstanding on may 28 , 2006 and may 29 , 2005 , and the average amount outstanding during the year ended may 28 , 2006 .', 'the amounts were calculated using the var methodology described above. .'] ## Table: in millions | fair value impact may 282006 | fair value impact averageduring2006 | fair value impact may 292005 ----------|----------|----------|---------- interest rate instruments | $ 8 | $ 10 | $ 18 foreign currency instruments | 2 | 1 | 1 commodity instruments | 2 | 2 | 1 equity instruments | 1 | 1 | 2013 ## Additional Information: ['.']

13.0

GIS/2006/page_51.pdf-1

['item 7a quantitative and qualitative disclosures about market risk we are exposed to market risk stemming from changes in interest rates , foreign exchange rates , commodity prices and equity prices .', 'changes in these factors could cause fluctuations in our earnings and cash flows .', 'in the normal course of business , we actively manage our exposure to these market risks by entering into various hedging trans- actions , authorized under our policies that place clear controls on these activities .', 'the counterparties in these transactions are generally highly rated institutions .', 'we establish credit limits for each counterparty .', 'our hedging transactions include but are not limited to a variety of deriv- ative financial instruments .', 'interest rates we manage our debt structure and our interest rate risk through the use of fixed- and floating-rate debt and derivatives .', 'we use interest rate swaps and forward-starting interest rate swaps to hedge our exposure to interest rate changes and to reduce volatility of our financing costs .', 'generally under these swaps , we agree with a counterparty to exchange the difference between fixed- rate and floating-rate interest amounts based on an agreed notional principal amount .', 'our primary exposure is to u.s .', 'interest rates .', 'as of may 28 , 2006 , we had $ 7.0 billion of aggregate notional principal amount ( the principal amount on which the fixed or floating interest rate is calculated ) outstanding .', 'this includes notional amounts of offsetting swaps that neutralize our exposure to interest rates on other interest rate swaps .', 'see note six to the consolidated finan- cial statements on pages 40 through 42 in item eight of this report .', 'foreign currency rates foreign currency fluctuations can affect our net investments and earnings denominated in foreign currencies .', 'we primarily use foreign currency forward contracts and option contracts to selectively hedge our cash flow exposure to changes in exchange rates .', 'these contracts function as hedges , since they change in value inversely to the change created in the underlying exposure as foreign exchange rates fluctuate .', 'our primary u.s .', 'dollar exchange rate exposures are with the canadian dollar , the euro , the australian dollar , the mexican peso and the british pound .', 'commodities many commodities we use in the produc- tion and distribution of our products are exposed to market price risks .', 'we manage this market risk through an inte- grated set of financial instruments , including purchase orders , noncancelable contracts , futures contracts , options and swaps .', 'our primary commodity price exposures are to cereal grains , sugar , dairy products , vegetables , fruits , meats , vegetable oils , and other agricultural products , as well as paper and plastic packaging materials , operating supplies and energy .', 'equity instruments equity price movements affect our compensation expense as certain investments owned by our employees are revalued .', 'we use equity swaps to manage this market risk .', 'value at risk these estimates are intended to measure the maximum potential fair value we could lose in one day from adverse changes in market interest rates , foreign exchange rates , commodity prices , or equity prices under normal market conditions .', 'a monte carlo ( var ) method- ology was used to quantify the market risk for our exposures .', 'the models assumed normal market conditions and used a 95 percent confidence level .', 'the var calculation used historical interest rates , foreign exchange rates and commodity and equity prices from the past year to estimate the potential volatility and correlation of these rates in the future .', 'the market data were drawn from the riskmetricstm data set .', 'the calculations are not intended to represent actual losses in fair value that we expect to incur .', 'further , since the hedging instrument ( the derivative ) inversely correlates with the underlying expo- sure , we would expect that any loss or gain in the fair value of our derivatives would be generally offset by an increase or decrease in the fair value of the underlying exposures .', 'the positions included in the calculations were : debt ; invest- ments ; interest rate swaps ; foreign exchange forwards ; commodity swaps , futures and options ; and equity instru- ments .', 'the calculations do not include the underlying foreign exchange and commodities-related positions that are hedged by these market-risk-sensitive instruments .', 'the table below presents the estimated maximum poten- tial one-day loss in fair value for our interest rate , foreign currency , commodity and equity market-risk-sensitive instruments outstanding on may 28 , 2006 and may 29 , 2005 , and the average amount outstanding during the year ended may 28 , 2006 .', 'the amounts were calculated using the var methodology described above. .']

['.']

in millions | fair value impact may 282006 | fair value impact averageduring2006 | fair value impact may 292005 ----------|----------|----------|---------- interest rate instruments | $ 8 | $ 10 | $ 18 foreign currency instruments | 2 | 1 | 1 commodity instruments | 2 | 2 | 1 equity instruments | 1 | 1 | 2013

add(8, 2), add(#0, 2), add(#1, 1)

13.0

what was the percentage change in inventories between 2017 and 2018?

Pre-text: ['note 6 : inventories we use the last-in , first-out ( lifo ) method for the majority of our inventories located in the continental u.s .', 'other inventories are valued by the first-in , first-out ( fifo ) method .', 'fifo cost approximates current replacement cost .', 'inventories measured using lifo must be valued at the lower of cost or market .', 'inventories measured using fifo must be valued at the lower of cost or net realizable value .', 'inventories at december 31 consisted of the following: .'] ## Tabular Data: ======================================== Row 1: , 2018, 2017 Row 2: finished products, $ 988.1, $ 1211.4 Row 3: work in process, 2628.2, 2697.7 Row 4: raw materials and supplies, 506.5, 488.8 Row 5: total ( approximates replacement cost ), 4122.8, 4397.9 Row 6: increase ( reduction ) to lifo cost, -11.0 ( 11.0 ), 60.4 Row 7: inventories, $ 4111.8, $ 4458.3 ======================================== ## Additional Information: ['inventories valued under the lifo method comprised $ 1.57 billion and $ 1.56 billion of total inventories at december 31 , 2018 and 2017 , respectively .', 'note 7 : financial instruments financial instruments that potentially subject us to credit risk consist principally of trade receivables and interest- bearing investments .', 'wholesale distributors of life-science products account for a substantial portion of our trade receivables ; collateral is generally not required .', 'we seek to mitigate the risk associated with this concentration through our ongoing credit-review procedures and insurance .', 'a large portion of our cash is held by a few major financial institutions .', 'we monitor our exposures with these institutions and do not expect any of these institutions to fail to meet their obligations .', 'major financial institutions represent the largest component of our investments in corporate debt securities .', 'in accordance with documented corporate risk-management policies , we monitor the amount of credit exposure to any one financial institution or corporate issuer .', 'we are exposed to credit-related losses in the event of nonperformance by counterparties to risk-management instruments but do not expect any counterparties to fail to meet their obligations given their high credit ratings .', 'we consider all highly liquid investments with a maturity of three months or less from the date of purchase to be cash equivalents .', 'the cost of these investments approximates fair value .', 'our equity investments are accounted for using three different methods depending on the type of equity investment : 2022 investments in companies over which we have significant influence but not a controlling interest are accounted for using the equity method , with our share of earnings or losses reported in other-net , ( income ) expense .', '2022 for equity investments that do not have readily determinable fair values , we measure these investments at cost , less any impairment , plus or minus changes resulting from observable price changes in orderly transactions for the identical or similar investment of the same issuer .', 'any change in recorded value is recorded in other-net , ( income ) expense .', '2022 our public equity investments are measured and carried at fair value .', 'any change in fair value is recognized in other-net , ( income ) expense .', 'we review equity investments other than public equity investments for indications of impairment on a regular basis .', 'our derivative activities are initiated within the guidelines of documented corporate risk-management policies and are intended to offset losses and gains on the assets , liabilities , and transactions being hedged .', 'management reviews the correlation and effectiveness of our derivatives on a quarterly basis. .']

-0.07772

LLY/2018/page_63.pdf-1

['note 6 : inventories we use the last-in , first-out ( lifo ) method for the majority of our inventories located in the continental u.s .', 'other inventories are valued by the first-in , first-out ( fifo ) method .', 'fifo cost approximates current replacement cost .', 'inventories measured using lifo must be valued at the lower of cost or market .', 'inventories measured using fifo must be valued at the lower of cost or net realizable value .', 'inventories at december 31 consisted of the following: .']

['inventories valued under the lifo method comprised $ 1.57 billion and $ 1.56 billion of total inventories at december 31 , 2018 and 2017 , respectively .', 'note 7 : financial instruments financial instruments that potentially subject us to credit risk consist principally of trade receivables and interest- bearing investments .', 'wholesale distributors of life-science products account for a substantial portion of our trade receivables ; collateral is generally not required .', 'we seek to mitigate the risk associated with this concentration through our ongoing credit-review procedures and insurance .', 'a large portion of our cash is held by a few major financial institutions .', 'we monitor our exposures with these institutions and do not expect any of these institutions to fail to meet their obligations .', 'major financial institutions represent the largest component of our investments in corporate debt securities .', 'in accordance with documented corporate risk-management policies , we monitor the amount of credit exposure to any one financial institution or corporate issuer .', 'we are exposed to credit-related losses in the event of nonperformance by counterparties to risk-management instruments but do not expect any counterparties to fail to meet their obligations given their high credit ratings .', 'we consider all highly liquid investments with a maturity of three months or less from the date of purchase to be cash equivalents .', 'the cost of these investments approximates fair value .', 'our equity investments are accounted for using three different methods depending on the type of equity investment : 2022 investments in companies over which we have significant influence but not a controlling interest are accounted for using the equity method , with our share of earnings or losses reported in other-net , ( income ) expense .', '2022 for equity investments that do not have readily determinable fair values , we measure these investments at cost , less any impairment , plus or minus changes resulting from observable price changes in orderly transactions for the identical or similar investment of the same issuer .', 'any change in recorded value is recorded in other-net , ( income ) expense .', '2022 our public equity investments are measured and carried at fair value .', 'any change in fair value is recognized in other-net , ( income ) expense .', 'we review equity investments other than public equity investments for indications of impairment on a regular basis .', 'our derivative activities are initiated within the guidelines of documented corporate risk-management policies and are intended to offset losses and gains on the assets , liabilities , and transactions being hedged .', 'management reviews the correlation and effectiveness of our derivatives on a quarterly basis. .']

======================================== Row 1: , 2018, 2017 Row 2: finished products, $ 988.1, $ 1211.4 Row 3: work in process, 2628.2, 2697.7 Row 4: raw materials and supplies, 506.5, 488.8 Row 5: total ( approximates replacement cost ), 4122.8, 4397.9 Row 6: increase ( reduction ) to lifo cost, -11.0 ( 11.0 ), 60.4 Row 7: inventories, $ 4111.8, $ 4458.3 ========================================

subtract(4111.8, 4458.3), divide(#0, 4458.3)

-0.07772

considering the additional discrete income tax charge for valuation allowances in 2015 , what is the percentage of the valuation allowance of the deferred tax assets recorded in iceland?

Context: ['the remaining $ 135 recognized in 2013 relates to a valuation allowance established on a portion of available foreign tax credits in the united states .', 'these credits can be carried forward for 10 years , and have an expiration period ranging from 2016 to 2023 as of december 31 , 2013 ( 2016 to 2025 as of december 31 , 2015 ) .', 'after weighing all available positive and negative evidence , as described above , management determined that it was no longer more likely than not that alcoa will realize the full tax benefit of these foreign tax credits .', 'this was primarily due to lower foreign sourced taxable income after consideration of tax planning strategies and after the inclusion of earnings from foreign subsidiaries projected to be distributable as taxable foreign dividends .', 'this valuation allowance was reevaluated as of december 31 , 2015 , and due to reductions in foreign sourced taxable income , a $ 134 discrete income tax charge was recognized .', 'additionally , $ 15 of foreign tax credits expired at the end of 2015 resulting in a corresponding decrease to the valuation allowance .', 'at december 31 , 2015 , the amount of the valuation allowance was $ 254 .', 'the need for this valuation allowance will be assessed on a continuous basis in future periods and , as a result , an increase or decrease to this allowance may result based on changes in facts and circumstances .', 'in 2015 , alcoa recognized an additional $ 141 discrete income tax charge for valuation allowances on certain deferred tax assets in iceland and suriname .', 'of this amount , an $ 85 valuation allowance was established on the full value of the deferred tax assets in suriname , which were related mostly to employee benefits and tax loss carryforwards .', 'these deferred tax assets have an expiration period ranging from 2016 to 2022 .', 'the remaining $ 56 charge relates to a valuation allowance established on a portion of the deferred tax assets recorded in iceland .', 'these deferred tax assets have an expiration period ranging from 2017 to 2023 .', 'after weighing all available positive and negative evidence , as described above , management determined that it was no longer more likely than not that alcoa will realize the tax benefit of either of these deferred tax assets .', 'this was mainly driven by a decline in the outlook of the primary metals business , combined with prior year cumulative losses and a short expiration period .', 'the need for this valuation allowance will be assessed on a continuous basis in future periods and , as a result , a portion or all of the allowance may be reversed based on changes in facts and circumstances .', 'in december 2011 , one of alcoa 2019s subsidiaries in brazil applied for a tax holiday related to its expanded mining and refining operations .', 'during 2013 , the application was amended and re-filed and , separately , a similar application was filed for another one of the company 2019s subsidiaries in brazil .', 'the deadline for the brazilian government to deny the application was july 11 , 2014 .', 'since alcoa did not receive notice that its applications were denied , the tax holiday took effect automatically on july 12 , 2014 .', 'as a result , the tax rate applicable to qualified holiday income for these subsidiaries decreased significantly ( from 34% ( 34 % ) to 15.25% ( 15.25 % ) ) , resulting in future cash tax savings over the 10-year holiday period ( retroactively effective as of january 1 , 2013 ) .', 'additionally , a portion of one of the subsidiaries net deferred tax asset that reverses within the holiday period was remeasured at the new tax rate ( the net deferred tax asset of the other subsidiary was not remeasured since it could still be utilized against the subsidiary 2019s future earnings not subject to the tax holiday ) .', 'this remeasurement resulted in a decrease to that subsidiary 2019s net deferred tax asset and a noncash charge to earnings of $ 52 ( $ 31 after noncontrolling interest ) .', 'the following table details the changes in the valuation allowance: .'] -------- Table: december 31,, 2015, 2014, 2013 balance at beginning of year, $ 1668, $ 1804, $ 1400 increase to allowance, 472, 117, 471 release of allowance, -42 ( 42 ), -77 ( 77 ), -41 ( 41 ) acquisitions and divestitures ( f ), 29, -37 ( 37 ), - u.s . state tax apportionment and tax rate changes, -45 ( 45 ), -80 ( 80 ), -32 ( 32 ) foreign currency translation, -45 ( 45 ), -59 ( 59 ), 6 balance at end of year, $ 2037, $ 1668, $ 1804 -------- Post-table: ['the cumulative amount of alcoa 2019s foreign undistributed net earnings for which no deferred taxes have been provided was approximately $ 4000 at december 31 , 2015 .', 'alcoa has a number of commitments and obligations related to the company 2019s growth strategy in foreign jurisdictions .', 'as such , management has no plans to distribute such earnings in the foreseeable future , and , therefore , has determined it is not practicable to determine the related deferred tax liability. .']

0.39716

HWM/2015/page_172.pdf-2

['the remaining $ 135 recognized in 2013 relates to a valuation allowance established on a portion of available foreign tax credits in the united states .', 'these credits can be carried forward for 10 years , and have an expiration period ranging from 2016 to 2023 as of december 31 , 2013 ( 2016 to 2025 as of december 31 , 2015 ) .', 'after weighing all available positive and negative evidence , as described above , management determined that it was no longer more likely than not that alcoa will realize the full tax benefit of these foreign tax credits .', 'this was primarily due to lower foreign sourced taxable income after consideration of tax planning strategies and after the inclusion of earnings from foreign subsidiaries projected to be distributable as taxable foreign dividends .', 'this valuation allowance was reevaluated as of december 31 , 2015 , and due to reductions in foreign sourced taxable income , a $ 134 discrete income tax charge was recognized .', 'additionally , $ 15 of foreign tax credits expired at the end of 2015 resulting in a corresponding decrease to the valuation allowance .', 'at december 31 , 2015 , the amount of the valuation allowance was $ 254 .', 'the need for this valuation allowance will be assessed on a continuous basis in future periods and , as a result , an increase or decrease to this allowance may result based on changes in facts and circumstances .', 'in 2015 , alcoa recognized an additional $ 141 discrete income tax charge for valuation allowances on certain deferred tax assets in iceland and suriname .', 'of this amount , an $ 85 valuation allowance was established on the full value of the deferred tax assets in suriname , which were related mostly to employee benefits and tax loss carryforwards .', 'these deferred tax assets have an expiration period ranging from 2016 to 2022 .', 'the remaining $ 56 charge relates to a valuation allowance established on a portion of the deferred tax assets recorded in iceland .', 'these deferred tax assets have an expiration period ranging from 2017 to 2023 .', 'after weighing all available positive and negative evidence , as described above , management determined that it was no longer more likely than not that alcoa will realize the tax benefit of either of these deferred tax assets .', 'this was mainly driven by a decline in the outlook of the primary metals business , combined with prior year cumulative losses and a short expiration period .', 'the need for this valuation allowance will be assessed on a continuous basis in future periods and , as a result , a portion or all of the allowance may be reversed based on changes in facts and circumstances .', 'in december 2011 , one of alcoa 2019s subsidiaries in brazil applied for a tax holiday related to its expanded mining and refining operations .', 'during 2013 , the application was amended and re-filed and , separately , a similar application was filed for another one of the company 2019s subsidiaries in brazil .', 'the deadline for the brazilian government to deny the application was july 11 , 2014 .', 'since alcoa did not receive notice that its applications were denied , the tax holiday took effect automatically on july 12 , 2014 .', 'as a result , the tax rate applicable to qualified holiday income for these subsidiaries decreased significantly ( from 34% ( 34 % ) to 15.25% ( 15.25 % ) ) , resulting in future cash tax savings over the 10-year holiday period ( retroactively effective as of january 1 , 2013 ) .', 'additionally , a portion of one of the subsidiaries net deferred tax asset that reverses within the holiday period was remeasured at the new tax rate ( the net deferred tax asset of the other subsidiary was not remeasured since it could still be utilized against the subsidiary 2019s future earnings not subject to the tax holiday ) .', 'this remeasurement resulted in a decrease to that subsidiary 2019s net deferred tax asset and a noncash charge to earnings of $ 52 ( $ 31 after noncontrolling interest ) .', 'the following table details the changes in the valuation allowance: .']

['the cumulative amount of alcoa 2019s foreign undistributed net earnings for which no deferred taxes have been provided was approximately $ 4000 at december 31 , 2015 .', 'alcoa has a number of commitments and obligations related to the company 2019s growth strategy in foreign jurisdictions .', 'as such , management has no plans to distribute such earnings in the foreseeable future , and , therefore , has determined it is not practicable to determine the related deferred tax liability. .']

december 31,, 2015, 2014, 2013 balance at beginning of year, $ 1668, $ 1804, $ 1400 increase to allowance, 472, 117, 471 release of allowance, -42 ( 42 ), -77 ( 77 ), -41 ( 41 ) acquisitions and divestitures ( f ), 29, -37 ( 37 ), - u.s . state tax apportionment and tax rate changes, -45 ( 45 ), -80 ( 80 ), -32 ( 32 ) foreign currency translation, -45 ( 45 ), -59 ( 59 ), 6 balance at end of year, $ 2037, $ 1668, $ 1804

divide(56, 141)

0.39716

what is the approximate size of each data center leased in square feet

Background: ['our previously announced stock repurchase program , and any subsequent stock purchase program put in place from time to time , could affect the price of our common stock , increase the volatility of our common stock and could diminish our cash reserves .', 'such repurchase program may be suspended or terminated at any time , which may result in a decrease in the trading price of our common stock .', 'we may have in place from time to time , a stock repurchase program .', 'any such stock repurchase program adopted will not obligate the company to repurchase any dollar amount or number of shares of common stock and may be suspended or discontinued at any time , which could cause the market price of our common stock to decline .', 'the timing and actual number of shares repurchased under any such stock repurchase program depends on a variety of factors including the timing of open trading windows , the price of our common stock , corporate and regulatory requirements and other market conditions .', 'we may effect repurchases under any stock repurchase program from time to time in the open market , in privately negotiated transactions or otherwise , including accelerated stock repurchase arrangements .', 'repurchases pursuant to any such stock repurchase program could affect our stock price and increase its volatility .', 'the existence of a stock repurchase program could also cause our stock price to be higher than it would be in the absence of such a program and could potentially reduce the market liquidity for our stock .', 'there can be no assurance that any stock repurchases will enhance stockholder value because the market price of our common stock may decline below the levels at which we repurchased shares of common stock .', 'although our stock repurchase program is intended to enhance stockholder value , short-term stock price fluctuations could reduce the program 2019s effectiveness .', 'additionally , our share repurchase program could diminish our cash reserves , which may impact our ability to finance future growth and to pursue possible future strategic opportunities and acquisitions .', 'see item 5 .', 'market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities and note 10 - repurchases of common stock included in part ii of this form 10-k for further information .', 'item 1b .', 'unresolved staff comments item 2 .', 'properties as of december 31 , 2017 , our significant properties that we primarily leased and were used in connection with switching centers , data centers , call centers and warehouses were as follows: .'] ---------- Table: ======================================== | approximate number | approximate size in square feet switching centers | 61 | 1300000 data centers | 6 | 500000 call center | 17 | 1400000 warehouses | 15 | 500000 ======================================== ---------- Additional Information: ['as of december 31 , 2017 , we primarily leased : 2022 approximately 61000 macro sites and approximately 18000 distributed antenna system and small cell sites .', '2022 approximately 2200 t-mobile and metropcs retail locations , including stores and kiosks ranging in size from approximately 100 square feet to 17000 square feet .', '2022 office space totaling approximately 900000 square feet for our corporate headquarters in bellevue , washington .', 'we use these offices for engineering and administrative purposes .', '2022 office space throughout the u.s. , totaling approximately 1700000 square feet as of december 31 , 2017 , for use by our regional offices primarily for administrative , engineering and sales purposes .', 'in february 2018 , we extended the leases related to our corporate headquarters facility .', 'item 3 .', 'legal proceedings see note 13 - commitments and contingencies of the notes to the consolidated financial statements included in part ii , item 8 of this form 10-k for information regarding certain legal proceedings in which we are involved. .']

83333.33333

TMUS/2017/page_29.pdf-3

['our previously announced stock repurchase program , and any subsequent stock purchase program put in place from time to time , could affect the price of our common stock , increase the volatility of our common stock and could diminish our cash reserves .', 'such repurchase program may be suspended or terminated at any time , which may result in a decrease in the trading price of our common stock .', 'we may have in place from time to time , a stock repurchase program .', 'any such stock repurchase program adopted will not obligate the company to repurchase any dollar amount or number of shares of common stock and may be suspended or discontinued at any time , which could cause the market price of our common stock to decline .', 'the timing and actual number of shares repurchased under any such stock repurchase program depends on a variety of factors including the timing of open trading windows , the price of our common stock , corporate and regulatory requirements and other market conditions .', 'we may effect repurchases under any stock repurchase program from time to time in the open market , in privately negotiated transactions or otherwise , including accelerated stock repurchase arrangements .', 'repurchases pursuant to any such stock repurchase program could affect our stock price and increase its volatility .', 'the existence of a stock repurchase program could also cause our stock price to be higher than it would be in the absence of such a program and could potentially reduce the market liquidity for our stock .', 'there can be no assurance that any stock repurchases will enhance stockholder value because the market price of our common stock may decline below the levels at which we repurchased shares of common stock .', 'although our stock repurchase program is intended to enhance stockholder value , short-term stock price fluctuations could reduce the program 2019s effectiveness .', 'additionally , our share repurchase program could diminish our cash reserves , which may impact our ability to finance future growth and to pursue possible future strategic opportunities and acquisitions .', 'see item 5 .', 'market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities and note 10 - repurchases of common stock included in part ii of this form 10-k for further information .', 'item 1b .', 'unresolved staff comments item 2 .', 'properties as of december 31 , 2017 , our significant properties that we primarily leased and were used in connection with switching centers , data centers , call centers and warehouses were as follows: .']

['as of december 31 , 2017 , we primarily leased : 2022 approximately 61000 macro sites and approximately 18000 distributed antenna system and small cell sites .', '2022 approximately 2200 t-mobile and metropcs retail locations , including stores and kiosks ranging in size from approximately 100 square feet to 17000 square feet .', '2022 office space totaling approximately 900000 square feet for our corporate headquarters in bellevue , washington .', 'we use these offices for engineering and administrative purposes .', '2022 office space throughout the u.s. , totaling approximately 1700000 square feet as of december 31 , 2017 , for use by our regional offices primarily for administrative , engineering and sales purposes .', 'in february 2018 , we extended the leases related to our corporate headquarters facility .', 'item 3 .', 'legal proceedings see note 13 - commitments and contingencies of the notes to the consolidated financial statements included in part ii , item 8 of this form 10-k for information regarding certain legal proceedings in which we are involved. .']

======================================== | approximate number | approximate size in square feet switching centers | 61 | 1300000 data centers | 6 | 500000 call center | 17 | 1400000 warehouses | 15 | 500000 ========================================

divide(500000, const_6)

83333.33333

in millions for 2016 , 2015 , and 2014 , what was the total beginning balance in allowance for doubtful accounts?

Background: ['cash and cash equivalents cash equivalents include highly-liquid investments with a maturity of three months or less when purchased .', 'accounts receivable and allowance for doubtful accounts accounts receivable are carried at the invoiced amounts , less an allowance for doubtful accounts , and generally do not bear interest .', 'the company estimates the balance of allowance for doubtful accounts by analyzing accounts receivable balances by age and applying historical write-off and collection trend rates .', 'the company 2019s estimates include separately providing for customer receivables based on specific circumstances and credit conditions , and when it is deemed probable that the balance is uncollectible .', 'account balances are charged off against the allowance when it is determined the receivable will not be recovered .', 'the company 2019s allowance for doubtful accounts balance also includes an allowance for the expected return of products shipped and credits related to pricing or quantities shipped of $ 14 million , $ 15 million and $ 14 million as of december 31 , 2016 , 2015 , and 2014 , respectively .', 'returns and credit activity is recorded directly to sales as a reduction .', 'the following table summarizes the activity in the allowance for doubtful accounts: .'] ###### Tabular Data: **************************************** ( millions ), 2016, 2015, 2014 beginning balance, $ 75, $ 77, $ 81 bad debt expense, 20, 26, 23 write-offs, -25 ( 25 ), -22 ( 22 ), -20 ( 20 ) other ( a ), -2 ( 2 ), -6 ( 6 ), -7 ( 7 ) ending balance, $ 68, $ 75, $ 77 **************************************** ###### Additional Information: ['( a ) other amounts are primarily the effects of changes in currency translations and the impact of allowance for returns and credits .', 'inventory valuations inventories are valued at the lower of cost or market .', 'certain u.s .', 'inventory costs are determined on a last-in , first-out ( 201clifo 201d ) basis .', 'lifo inventories represented 40% ( 40 % ) and 39% ( 39 % ) of consolidated inventories as of december 31 , 2016 and 2015 , respectively .', 'lifo inventories include certain legacy nalco u.s .', 'inventory acquired at fair value as part of the nalco merger .', 'all other inventory costs are determined using either the average cost or first-in , first-out ( 201cfifo 201d ) methods .', 'inventory values at fifo , as shown in note 5 , approximate replacement cost .', 'during 2015 , the company improved and standardized estimates related to its inventory reserves and product costing , resulting in a net pre-tax charge of approximately $ 6 million .', 'separately , the actions resulted in a charge of $ 20.6 million related to inventory reserve calculations , partially offset by a gain of $ 14.5 million related to the capitalization of certain cost components into inventory .', 'during 2016 , the company took additional actions to improve and standardize estimates related to the capitalization of certain cost components into inventory , which resulted in a gain of $ 6.2 million .', 'these items are reflected within special ( gains ) and charges , as discussed in note 3 .', 'property , plant and equipment property , plant and equipment assets are stated at cost .', 'merchandising and customer equipment consists principally of various dispensing systems for the company 2019s cleaning and sanitizing products , dishwashing machines and process control and monitoring equipment .', 'certain dispensing systems capitalized by the company are accounted for on a mass asset basis , whereby equipment is capitalized and depreciated as a group and written off when fully depreciated .', 'the company capitalizes both internal and external costs of development or purchase of computer software for internal use .', 'costs incurred for data conversion , training and maintenance associated with capitalized software are expensed as incurred .', 'expenditures for major renewals and improvements , which significantly extend the useful lives of existing plant and equipment , are capitalized and depreciated .', 'expenditures for repairs and maintenance are charged to expense as incurred .', 'upon retirement or disposition of plant and equipment , the cost and related accumulated depreciation are removed from the accounts and any resulting gain or loss is recognized in income .', 'depreciation is charged to operations using the straight-line method over the assets 2019 estimated useful lives ranging from 5 to 40 years for buildings and leasehold improvements , 3 to 20 years for machinery and equipment , 3 to 15 years for merchandising and customer equipment and 3 to 7 years for capitalized software .', 'the straight-line method of depreciation reflects an appropriate allocation of the cost of the assets to earnings in proportion to the amount of economic benefits obtained by the company in each reporting period .', 'depreciation expense was $ 561 million , $ 560 million and $ 558 million for 2016 , 2015 and 2014 , respectively. .']

233.0

ECL/2016/page_64.pdf-2

['cash and cash equivalents cash equivalents include highly-liquid investments with a maturity of three months or less when purchased .', 'accounts receivable and allowance for doubtful accounts accounts receivable are carried at the invoiced amounts , less an allowance for doubtful accounts , and generally do not bear interest .', 'the company estimates the balance of allowance for doubtful accounts by analyzing accounts receivable balances by age and applying historical write-off and collection trend rates .', 'the company 2019s estimates include separately providing for customer receivables based on specific circumstances and credit conditions , and when it is deemed probable that the balance is uncollectible .', 'account balances are charged off against the allowance when it is determined the receivable will not be recovered .', 'the company 2019s allowance for doubtful accounts balance also includes an allowance for the expected return of products shipped and credits related to pricing or quantities shipped of $ 14 million , $ 15 million and $ 14 million as of december 31 , 2016 , 2015 , and 2014 , respectively .', 'returns and credit activity is recorded directly to sales as a reduction .', 'the following table summarizes the activity in the allowance for doubtful accounts: .']

['( a ) other amounts are primarily the effects of changes in currency translations and the impact of allowance for returns and credits .', 'inventory valuations inventories are valued at the lower of cost or market .', 'certain u.s .', 'inventory costs are determined on a last-in , first-out ( 201clifo 201d ) basis .', 'lifo inventories represented 40% ( 40 % ) and 39% ( 39 % ) of consolidated inventories as of december 31 , 2016 and 2015 , respectively .', 'lifo inventories include certain legacy nalco u.s .', 'inventory acquired at fair value as part of the nalco merger .', 'all other inventory costs are determined using either the average cost or first-in , first-out ( 201cfifo 201d ) methods .', 'inventory values at fifo , as shown in note 5 , approximate replacement cost .', 'during 2015 , the company improved and standardized estimates related to its inventory reserves and product costing , resulting in a net pre-tax charge of approximately $ 6 million .', 'separately , the actions resulted in a charge of $ 20.6 million related to inventory reserve calculations , partially offset by a gain of $ 14.5 million related to the capitalization of certain cost components into inventory .', 'during 2016 , the company took additional actions to improve and standardize estimates related to the capitalization of certain cost components into inventory , which resulted in a gain of $ 6.2 million .', 'these items are reflected within special ( gains ) and charges , as discussed in note 3 .', 'property , plant and equipment property , plant and equipment assets are stated at cost .', 'merchandising and customer equipment consists principally of various dispensing systems for the company 2019s cleaning and sanitizing products , dishwashing machines and process control and monitoring equipment .', 'certain dispensing systems capitalized by the company are accounted for on a mass asset basis , whereby equipment is capitalized and depreciated as a group and written off when fully depreciated .', 'the company capitalizes both internal and external costs of development or purchase of computer software for internal use .', 'costs incurred for data conversion , training and maintenance associated with capitalized software are expensed as incurred .', 'expenditures for major renewals and improvements , which significantly extend the useful lives of existing plant and equipment , are capitalized and depreciated .', 'expenditures for repairs and maintenance are charged to expense as incurred .', 'upon retirement or disposition of plant and equipment , the cost and related accumulated depreciation are removed from the accounts and any resulting gain or loss is recognized in income .', 'depreciation is charged to operations using the straight-line method over the assets 2019 estimated useful lives ranging from 5 to 40 years for buildings and leasehold improvements , 3 to 20 years for machinery and equipment , 3 to 15 years for merchandising and customer equipment and 3 to 7 years for capitalized software .', 'the straight-line method of depreciation reflects an appropriate allocation of the cost of the assets to earnings in proportion to the amount of economic benefits obtained by the company in each reporting period .', 'depreciation expense was $ 561 million , $ 560 million and $ 558 million for 2016 , 2015 and 2014 , respectively. .']

**************************************** ( millions ), 2016, 2015, 2014 beginning balance, $ 75, $ 77, $ 81 bad debt expense, 20, 26, 23 write-offs, -25 ( 25 ), -22 ( 22 ), -20 ( 20 ) other ( a ), -2 ( 2 ), -6 ( 6 ), -7 ( 7 ) ending balance, $ 68, $ 75, $ 77 ****************************************

table_sum(beginning balance, none)

233.0

what were total operating expenses in 2013?

Background: ['table of contents notes to consolidated financial statements of american airlines group inc .', 'information generated by market transactions involving comparable assets , as well as pricing guides and other sources .', 'the current market for the aircraft , the maintenance condition of the aircraft and the expected proceeds from the sale of the assets , among other factors , were considered .', 'the market approach was utilized to value certain intangible assets such as airport take off and landing slots when sufficient market information was available .', 'the income approach was primarily used to value intangible assets , including customer relationships , marketing agreements , certain international route authorities , and the us airways tradename .', 'the income approach indicates value for a subject asset based on the present value of cash flows projected to be generated by the asset .', 'projected cash flows are discounted at a required market rate of return that reflects the relative risk of achieving the cash flows and the time value of money .', 'the cost approach , which estimates value by determining the current cost of replacing an asset with another of equivalent economic utility , was used , as appropriate , for certain assets for which the market and income approaches could not be applied due to the nature of the asset .', 'the cost to replace a given asset reflects the estimated reproduction or replacement cost for the asset , less an allowance for loss in value due to depreciation .', 'the fair value of us airways 2019 dividend miles loyalty program liability was determined based on the weighted average equivalent ticket value of outstanding miles which were expected to be redeemed for future travel at december 9 , 2013 .', 'the weighted average equivalent ticket value contemplates differing classes of service , domestic and international itineraries and the carrier providing the award travel .', 'pro-forma impact of the merger the company 2019s unaudited pro-forma results presented below include the effects of the merger as if it had been consummated as of january 1 , 2012 .', 'the pro-forma results include the depreciation and amortization associated with the acquired tangible and intangible assets , lease and debt fair value adjustments , the elimination of any deferred gains or losses , adjustments relating to reflecting the fair value of the loyalty program liability and the impact of income changes on profit sharing expense , among others .', 'in addition , the pro-forma results below reflect the impact of higher wage rates related to memorandums of understanding with us airways 2019 pilots that became effective upon closing of the merger , as well as the elimination of the company 2019s reorganization items , net and merger transition costs .', 'however , the pro-forma results do not include any anticipated synergies or other expected benefits of the merger .', 'accordingly , the unaudited pro-forma financial information below is not necessarily indicative of either future results of operations or results that might have been achieved had the acquisition been consummated as of january 1 , 2012 .', 'december 31 , ( in millions ) .'] Tabular Data: ---------------------------------------- december 31 2013 ( in millions ) revenue $ 40678 net income 2526 ---------------------------------------- Follow-up: ['5 .', 'basis of presentation and summary of significant accounting policies ( a ) basis of presentation the consolidated financial statements for the full years of 2015 and 2014 and the period from december 9 , 2013 to december 31 , 2013 include the accounts of the company and its wholly-owned subsidiaries .', 'for the periods prior to december 9 , 2013 , the consolidated financial statements do not include the accounts of us airways group .', 'all significant intercompany transactions have been eliminated .', 'the preparation of financial statements in accordance with accounting principles generally accepted in the united states ( gaap ) requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities , revenues and expenses , and the disclosure of contingent assets and liabilities at the date of the financial statements .', 'actual results could differ from those estimates .', 'the most significant areas .']

38152.0

AAL/2015/page_118.pdf-3

['table of contents notes to consolidated financial statements of american airlines group inc .', 'information generated by market transactions involving comparable assets , as well as pricing guides and other sources .', 'the current market for the aircraft , the maintenance condition of the aircraft and the expected proceeds from the sale of the assets , among other factors , were considered .', 'the market approach was utilized to value certain intangible assets such as airport take off and landing slots when sufficient market information was available .', 'the income approach was primarily used to value intangible assets , including customer relationships , marketing agreements , certain international route authorities , and the us airways tradename .', 'the income approach indicates value for a subject asset based on the present value of cash flows projected to be generated by the asset .', 'projected cash flows are discounted at a required market rate of return that reflects the relative risk of achieving the cash flows and the time value of money .', 'the cost approach , which estimates value by determining the current cost of replacing an asset with another of equivalent economic utility , was used , as appropriate , for certain assets for which the market and income approaches could not be applied due to the nature of the asset .', 'the cost to replace a given asset reflects the estimated reproduction or replacement cost for the asset , less an allowance for loss in value due to depreciation .', 'the fair value of us airways 2019 dividend miles loyalty program liability was determined based on the weighted average equivalent ticket value of outstanding miles which were expected to be redeemed for future travel at december 9 , 2013 .', 'the weighted average equivalent ticket value contemplates differing classes of service , domestic and international itineraries and the carrier providing the award travel .', 'pro-forma impact of the merger the company 2019s unaudited pro-forma results presented below include the effects of the merger as if it had been consummated as of january 1 , 2012 .', 'the pro-forma results include the depreciation and amortization associated with the acquired tangible and intangible assets , lease and debt fair value adjustments , the elimination of any deferred gains or losses , adjustments relating to reflecting the fair value of the loyalty program liability and the impact of income changes on profit sharing expense , among others .', 'in addition , the pro-forma results below reflect the impact of higher wage rates related to memorandums of understanding with us airways 2019 pilots that became effective upon closing of the merger , as well as the elimination of the company 2019s reorganization items , net and merger transition costs .', 'however , the pro-forma results do not include any anticipated synergies or other expected benefits of the merger .', 'accordingly , the unaudited pro-forma financial information below is not necessarily indicative of either future results of operations or results that might have been achieved had the acquisition been consummated as of january 1 , 2012 .', 'december 31 , ( in millions ) .']

['5 .', 'basis of presentation and summary of significant accounting policies ( a ) basis of presentation the consolidated financial statements for the full years of 2015 and 2014 and the period from december 9 , 2013 to december 31 , 2013 include the accounts of the company and its wholly-owned subsidiaries .', 'for the periods prior to december 9 , 2013 , the consolidated financial statements do not include the accounts of us airways group .', 'all significant intercompany transactions have been eliminated .', 'the preparation of financial statements in accordance with accounting principles generally accepted in the united states ( gaap ) requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities , revenues and expenses , and the disclosure of contingent assets and liabilities at the date of the financial statements .', 'actual results could differ from those estimates .', 'the most significant areas .']

---------------------------------------- december 31 2013 ( in millions ) revenue $ 40678 net income 2526 ----------------------------------------

subtract(40678, 2526)

38152.0

what is the time-interest-earned ratio for 2015?

Background: ['on may 20 , 2015 , aon plc issued $ 600 million of 4.750% ( 4.750 % ) senior notes due may 2045 .', 'the 4.750% ( 4.750 % ) notes due may 2045 are fully and unconditionally guaranteed by aon corporation .', 'we used the proceeds of the issuance for general corporate purposes .', 'on september 30 , 2015 , $ 600 million of 3.50% ( 3.50 % ) senior notes issued by aon corporation matured and were repaid .', 'on november 13 , 2015 , aon plc issued $ 400 million of 2.80% ( 2.80 % ) senior notes due march 2021 .', 'the 2.80% ( 2.80 % ) notes due march 2021 are fully and unconditionally guaranteed by aon corporation .', 'we used the proceeds of the issuance for general corporate purposes .', 'credit facilities as of december 31 , 2015 , we had two committed credit facilities outstanding : our $ 400 million u.s .', 'credit facility expiring in march 2017 ( the "2017 facility" ) and $ 900 million multi-currency u.s .', 'credit facility expiring in february 2020 ( the "2020 facility" ) .', 'the 2020 facility was entered into on february 2 , 2015 and replaced the previous 20ac650 million european credit facility .', 'each of these facilities is intended to support our commercial paper obligations and our general working capital needs .', 'in addition , each of these facilities includes customary representations , warranties and covenants , including financial covenants that require us to maintain specified ratios of adjusted consolidated ebitda to consolidated interest expense and consolidated debt to adjusted consolidated ebitda , tested quarterly .', 'at december 31 , 2015 , we did not have borrowings under either the 2017 facility or the 2020 facility , and we were in compliance with the financial covenants and all other covenants contained therein during the twelve months ended december 31 , 2015 .', 'effective february 2 , 2016 , the 2020 facility terms were extended for 1 year and will expire in february 2021 our total debt-to-ebitda ratio at december 31 , 2015 and 2014 , is calculated as follows: .'] Data Table: ======================================== years ended december 31, 2015 2014 net income 1422 1431 interest expense 273 255 income taxes 267 334 depreciation of fixed assets 229 242 amortization of intangible assets 314 352 total ebitda 2505 2614 total debt 5737 5582 total debt-to-ebitda ratio 2.3 2.1 ======================================== Follow-up: ['we use ebitda , as defined by our financial covenants , as a non-gaap measure .', 'this supplemental information related to ebitda represents a measure not in accordance with u.s .', 'gaap and should be viewed in addition to , not instead of , our consolidated financial statements and notes thereto .', 'shelf registration statement on september 3 , 2015 , we filed a shelf registration statement with the sec , registering the offer and sale from time to time of an indeterminate amount of , among other securities , debt securities , preference shares , class a ordinary shares and convertible securities .', 'our ability to access the market as a source of liquidity is dependent on investor demand , market conditions and other factors. .']

9.17582

AON/2015/page_43.pdf-1

['on may 20 , 2015 , aon plc issued $ 600 million of 4.750% ( 4.750 % ) senior notes due may 2045 .', 'the 4.750% ( 4.750 % ) notes due may 2045 are fully and unconditionally guaranteed by aon corporation .', 'we used the proceeds of the issuance for general corporate purposes .', 'on september 30 , 2015 , $ 600 million of 3.50% ( 3.50 % ) senior notes issued by aon corporation matured and were repaid .', 'on november 13 , 2015 , aon plc issued $ 400 million of 2.80% ( 2.80 % ) senior notes due march 2021 .', 'the 2.80% ( 2.80 % ) notes due march 2021 are fully and unconditionally guaranteed by aon corporation .', 'we used the proceeds of the issuance for general corporate purposes .', 'credit facilities as of december 31 , 2015 , we had two committed credit facilities outstanding : our $ 400 million u.s .', 'credit facility expiring in march 2017 ( the "2017 facility" ) and $ 900 million multi-currency u.s .', 'credit facility expiring in february 2020 ( the "2020 facility" ) .', 'the 2020 facility was entered into on february 2 , 2015 and replaced the previous 20ac650 million european credit facility .', 'each of these facilities is intended to support our commercial paper obligations and our general working capital needs .', 'in addition , each of these facilities includes customary representations , warranties and covenants , including financial covenants that require us to maintain specified ratios of adjusted consolidated ebitda to consolidated interest expense and consolidated debt to adjusted consolidated ebitda , tested quarterly .', 'at december 31 , 2015 , we did not have borrowings under either the 2017 facility or the 2020 facility , and we were in compliance with the financial covenants and all other covenants contained therein during the twelve months ended december 31 , 2015 .', 'effective february 2 , 2016 , the 2020 facility terms were extended for 1 year and will expire in february 2021 our total debt-to-ebitda ratio at december 31 , 2015 and 2014 , is calculated as follows: .']

['we use ebitda , as defined by our financial covenants , as a non-gaap measure .', 'this supplemental information related to ebitda represents a measure not in accordance with u.s .', 'gaap and should be viewed in addition to , not instead of , our consolidated financial statements and notes thereto .', 'shelf registration statement on september 3 , 2015 , we filed a shelf registration statement with the sec , registering the offer and sale from time to time of an indeterminate amount of , among other securities , debt securities , preference shares , class a ordinary shares and convertible securities .', 'our ability to access the market as a source of liquidity is dependent on investor demand , market conditions and other factors. .']

======================================== years ended december 31, 2015 2014 net income 1422 1431 interest expense 273 255 income taxes 267 334 depreciation of fixed assets 229 242 amortization of intangible assets 314 352 total ebitda 2505 2614 total debt 5737 5582 total debt-to-ebitda ratio 2.3 2.1 ========================================

divide(2505, 273)

9.17582

what is the growth rate in net revenue for entergy wholesale commodities in 2013?

Pre-text: ['the grand gulf recovery variance is primarily due to increased recovery of higher costs resulting from the grand gulf uprate .', 'the volume/weather variance is primarily due to the effects of more favorable weather on residential sales and an increase in industrial sales primarily due to growth in the refining segment .', 'the fuel recovery variance is primarily due to : 2022 the deferral of increased capacity costs that will be recovered through fuel adjustment clauses ; 2022 the expiration of the evangeline gas contract on january 1 , 2013 ; and 2022 an adjustment to deferred fuel costs recorded in the third quarter 2012 in accordance with a rate order from the puct issued in september 2012 .', "see note 2 to the financial statements for further discussion of this puct order issued in entergy texas's 2011 rate case .", 'the miso deferral variance is primarily due to the deferral in april 2013 , as approved by the apsc , of costs incurred since march 2010 related to the transition and implementation of joining the miso rto .', 'the decommissioning trusts variance is primarily due to lower regulatory credits resulting from higher realized income on decommissioning trust fund investments .', 'there is no effect on net income as the credits are offset by interest and investment income .', 'entergy wholesale commodities following is an analysis of the change in net revenue comparing 2013 to 2012 .', 'amount ( in millions ) .'] #### Data Table: ======================================== , amount ( in millions ) 2012 net revenue, $ 1854 mark-to-market, -58 ( 58 ) nuclear volume, -24 ( 24 ) nuclear fuel expenses, -20 ( 20 ) nuclear realized price changes, 58 other, -8 ( 8 ) 2013 net revenue, $ 1802 ======================================== #### Follow-up: ['as shown in the table above , net revenue for entergy wholesale commodities decreased by approximately $ 52 million in 2013 primarily due to : 2022 the effect of rising forward power prices on electricity derivative instruments that are not designated as hedges , including additional financial power sales conducted in the fourth quarter 2013 to offset the planned exercise of in-the-money protective call options and to lock in margins .', 'these additional sales did not qualify for hedge accounting treatment , and increases in forward prices after those sales were made accounted for the majority of the negative mark-to-market variance .', 'it is expected that the underlying transactions will result in earnings in first quarter 2014 as these positions settle .', 'see note 16 to the financial statements for discussion of derivative instruments ; 2022 the decrease in net revenue compared to prior year resulting from the exercise of resupply options provided for in purchase power agreements where entergy wholesale commodities may elect to supply power from another source when the plant is not running .', "amounts related to the exercise of resupply options are included in the gwh billed in the table below ; and entergy corporation and subsidiaries management's financial discussion and analysis ."]

-0.02805

ETR/2013/page_15.pdf-3

['the grand gulf recovery variance is primarily due to increased recovery of higher costs resulting from the grand gulf uprate .', 'the volume/weather variance is primarily due to the effects of more favorable weather on residential sales and an increase in industrial sales primarily due to growth in the refining segment .', 'the fuel recovery variance is primarily due to : 2022 the deferral of increased capacity costs that will be recovered through fuel adjustment clauses ; 2022 the expiration of the evangeline gas contract on january 1 , 2013 ; and 2022 an adjustment to deferred fuel costs recorded in the third quarter 2012 in accordance with a rate order from the puct issued in september 2012 .', "see note 2 to the financial statements for further discussion of this puct order issued in entergy texas's 2011 rate case .", 'the miso deferral variance is primarily due to the deferral in april 2013 , as approved by the apsc , of costs incurred since march 2010 related to the transition and implementation of joining the miso rto .', 'the decommissioning trusts variance is primarily due to lower regulatory credits resulting from higher realized income on decommissioning trust fund investments .', 'there is no effect on net income as the credits are offset by interest and investment income .', 'entergy wholesale commodities following is an analysis of the change in net revenue comparing 2013 to 2012 .', 'amount ( in millions ) .']

['as shown in the table above , net revenue for entergy wholesale commodities decreased by approximately $ 52 million in 2013 primarily due to : 2022 the effect of rising forward power prices on electricity derivative instruments that are not designated as hedges , including additional financial power sales conducted in the fourth quarter 2013 to offset the planned exercise of in-the-money protective call options and to lock in margins .', 'these additional sales did not qualify for hedge accounting treatment , and increases in forward prices after those sales were made accounted for the majority of the negative mark-to-market variance .', 'it is expected that the underlying transactions will result in earnings in first quarter 2014 as these positions settle .', 'see note 16 to the financial statements for discussion of derivative instruments ; 2022 the decrease in net revenue compared to prior year resulting from the exercise of resupply options provided for in purchase power agreements where entergy wholesale commodities may elect to supply power from another source when the plant is not running .', "amounts related to the exercise of resupply options are included in the gwh billed in the table below ; and entergy corporation and subsidiaries management's financial discussion and analysis ."]

======================================== , amount ( in millions ) 2012 net revenue, $ 1854 mark-to-market, -58 ( 58 ) nuclear volume, -24 ( 24 ) nuclear fuel expenses, -20 ( 20 ) nuclear realized price changes, 58 other, -8 ( 8 ) 2013 net revenue, $ 1802 ========================================

subtract(1802, 1854), divide(#0, 1854)

-0.02805

what was the ratio of the net fair value of acquired assets and liabilities to the advances and equity

Background: ['58| | duke realty corporation annual report 2009 we recognized a loss of $ 1.1 million upon acquisition , which represents the difference between the fair value of the recognized assets and the carrying value of our pre-existing equity interest .', 'the acquisition date fair value of the net recognized assets as compared to the acquisition date carrying value of our outstanding advances and accrued interest , as well as the acquisition date carrying value of our pre-existing equity interests , is shown as follows ( in thousands ) : .'] Table: ======================================== Row 1: net fair value of acquired assets and liabilities, $ 206852 Row 2: less advances to acquired entities eliminated upon consolidation, -173006 ( 173006 ) Row 3: less acquisition date carrying value of equity in acquired entities, -34908 ( 34908 ) Row 4: loss on business combination, $ -1062 ( 1062 ) ======================================== Follow-up: ['since april 1 , 2009 , the results of operations for both acquired entities have been included in continuing operations in our consolidated financial statements .', 'due to our significant pre-existing ownership and financing positions in the two acquired entities , the inclusion of their results of operations did not have a material effect on our operating income .', 'acquisitions we acquired income producing real estate related assets of $ 32.1 million , $ 60.5 million and $ 219.9 million in 2009 , 2008 and 2007 , respectively .', 'in december 2007 , in order to further establish our property positions around strategic port locations , we purchased a portfolio of five industrial buildings in seattle , virginia and houston , as well as approximately 161 acres of undeveloped land and a 12-acre container storage facility in houston .', 'the total price was $ 89.7 million and was financed in part through assumption of secured debt that had a fair value of $ 34.3 million .', 'of the total purchase price , $ 64.1 million was allocated to in-service real estate assets , $ 20.0 million was allocated to undeveloped land and the container storage facility , $ 5.4 million was allocated to lease related intangible assets , and the remaining amount was allocated to acquired working capital related assets and liabilities .', 'the results of operations for the acquired properties since the date of acquisition have been included in continuing rental operations in our consolidated financial statements .', 'all other acquisitions were not individually material .', 'dispositions we disposed of income producing real estate related assets with gross proceeds of $ 267.0 million , $ 426.2 million and $ 590.4 million in 2009 , 2008 and 2007 , respectively .', 'we sold five properties in 2009 and seven properties in 2008 to an unconsolidated joint venture .', 'the gross proceeds totaled $ 84.3 million and $ 226.2 million for the years ended december 31 , 2009 and 2008 , respectively .', 'in march 2007 , as part of our capital recycling program , we sold a portfolio of eight suburban office properties totaling 894000 square feet in the cleveland market .', 'the sales price totaled $ 140.4 million , of which we received net proceeds of $ 139.3 million .', 'we also sold a portfolio of twelve flex and light industrial properties in july 2007 , totaling 865000 square feet in the st .', 'louis market , for a sales price of $ 65.0 million , of which we received net proceeds of $ 64.2 million .', 'all other dispositions were not individually material .', '( 4 ) related party transactions we provide property management , leasing , construction and other tenant related services to unconsolidated companies in which we have equity interests .', 'for the years ended december 31 , 2009 , 2008 and 2007 , respectively , we earned management fees of $ 8.4 million , $ 7.8 million and $ 7.1 million , leasing fees of $ 4.2 million , $ 2.8 million and $ 4.2 million and construction and development fees of $ 10.2 million , $ 12.7 million and $ 13.1 million from these companies .', 'we recorded these fees based on contractual terms that approximate market rates for these types of .']

1.00513

DRE/2009/page_60.pdf-2

['58| | duke realty corporation annual report 2009 we recognized a loss of $ 1.1 million upon acquisition , which represents the difference between the fair value of the recognized assets and the carrying value of our pre-existing equity interest .', 'the acquisition date fair value of the net recognized assets as compared to the acquisition date carrying value of our outstanding advances and accrued interest , as well as the acquisition date carrying value of our pre-existing equity interests , is shown as follows ( in thousands ) : .']

['since april 1 , 2009 , the results of operations for both acquired entities have been included in continuing operations in our consolidated financial statements .', 'due to our significant pre-existing ownership and financing positions in the two acquired entities , the inclusion of their results of operations did not have a material effect on our operating income .', 'acquisitions we acquired income producing real estate related assets of $ 32.1 million , $ 60.5 million and $ 219.9 million in 2009 , 2008 and 2007 , respectively .', 'in december 2007 , in order to further establish our property positions around strategic port locations , we purchased a portfolio of five industrial buildings in seattle , virginia and houston , as well as approximately 161 acres of undeveloped land and a 12-acre container storage facility in houston .', 'the total price was $ 89.7 million and was financed in part through assumption of secured debt that had a fair value of $ 34.3 million .', 'of the total purchase price , $ 64.1 million was allocated to in-service real estate assets , $ 20.0 million was allocated to undeveloped land and the container storage facility , $ 5.4 million was allocated to lease related intangible assets , and the remaining amount was allocated to acquired working capital related assets and liabilities .', 'the results of operations for the acquired properties since the date of acquisition have been included in continuing rental operations in our consolidated financial statements .', 'all other acquisitions were not individually material .', 'dispositions we disposed of income producing real estate related assets with gross proceeds of $ 267.0 million , $ 426.2 million and $ 590.4 million in 2009 , 2008 and 2007 , respectively .', 'we sold five properties in 2009 and seven properties in 2008 to an unconsolidated joint venture .', 'the gross proceeds totaled $ 84.3 million and $ 226.2 million for the years ended december 31 , 2009 and 2008 , respectively .', 'in march 2007 , as part of our capital recycling program , we sold a portfolio of eight suburban office properties totaling 894000 square feet in the cleveland market .', 'the sales price totaled $ 140.4 million , of which we received net proceeds of $ 139.3 million .', 'we also sold a portfolio of twelve flex and light industrial properties in july 2007 , totaling 865000 square feet in the st .', 'louis market , for a sales price of $ 65.0 million , of which we received net proceeds of $ 64.2 million .', 'all other dispositions were not individually material .', '( 4 ) related party transactions we provide property management , leasing , construction and other tenant related services to unconsolidated companies in which we have equity interests .', 'for the years ended december 31 , 2009 , 2008 and 2007 , respectively , we earned management fees of $ 8.4 million , $ 7.8 million and $ 7.1 million , leasing fees of $ 4.2 million , $ 2.8 million and $ 4.2 million and construction and development fees of $ 10.2 million , $ 12.7 million and $ 13.1 million from these companies .', 'we recorded these fees based on contractual terms that approximate market rates for these types of .']

======================================== Row 1: net fair value of acquired assets and liabilities, $ 206852 Row 2: less advances to acquired entities eliminated upon consolidation, -173006 ( 173006 ) Row 3: less acquisition date carrying value of equity in acquired entities, -34908 ( 34908 ) Row 4: loss on business combination, $ -1062 ( 1062 ) ========================================

add(173006, 34908), divide(#0, 206852)

1.00513

how is cash flow of system energy affected by the change in balance of money pool from 2007 to 2008?

Pre-text: ['system energy resources , inc .', "management's financial discussion and analysis with syndicated bank letters of credit .", 'in december 2004 , system energy amended these letters of credit and they now expire in may 2009 .', 'system energy may refinance or redeem debt prior to maturity , to the extent market conditions and interest and dividend rates are favorable .', 'all debt and common stock issuances by system energy require prior regulatory approval .', 'debt issuances are also subject to issuance tests set forth in its bond indentures and other agreements .', 'system energy has sufficient capacity under these tests to meet its foreseeable capital needs .', 'system energy has obtained a short-term borrowing authorization from the ferc under which it may borrow , through march 31 , 2010 , up to the aggregate amount , at any one time outstanding , of $ 200 million .', "see note 4 to the financial statements for further discussion of system energy's short-term borrowing limits .", 'system energy has also obtained an order from the ferc authorizing long-term securities issuances .', 'the current long- term authorization extends through june 2009 .', "system energy's receivables from the money pool were as follows as of december 31 for each of the following years: ."] Data Table: ---------------------------------------- • 2008, 2007, 2006, 2005 • ( in thousands ), ( in thousands ), ( in thousands ), ( in thousands ) • $ 42915, $ 53620, $ 88231, $ 277287 ---------------------------------------- Post-table: ["in may 2007 , $ 22.5 million of system energy's receivable from the money pool was replaced by a note receivable from entergy new orleans .", 'see note 4 to the financial statements for a description of the money pool .', 'nuclear matters system energy owns and operates grand gulf .', 'system energy is , therefore , subject to the risks related to owning and operating a nuclear plant .', 'these include risks from the use , storage , handling and disposal of high-level and low-level radioactive materials , regulatory requirement changes , including changes resulting from events at other plants , limitations on the amounts and types of insurance commercially available for losses in connection with nuclear operations , and technological and financial uncertainties related to decommissioning nuclear plants at the end of their licensed lives , including the sufficiency of funds in decommissioning trusts .', 'in the event of an unanticipated early shutdown of grand gulf , system energy may be required to provide additional funds or credit support to satisfy regulatory requirements for decommissioning .', "environmental risks system energy's facilities and operations are subject to regulation by various governmental authorities having jurisdiction over air quality , water quality , control of toxic substances and hazardous and solid wastes , and other environmental matters .", 'management believes that system energy is in substantial compliance with environmental regulations currently applicable to its facilities and operations .', 'because environmental regulations are subject to change , future compliance costs cannot be precisely estimated .', "critical accounting estimates the preparation of system energy's financial statements in conformity with generally accepted accounting principles requires management to apply appropriate accounting policies and to make estimates and judgments that ."]

10705.0

ETR/2008/page_401.pdf-1

['system energy resources , inc .', "management's financial discussion and analysis with syndicated bank letters of credit .", 'in december 2004 , system energy amended these letters of credit and they now expire in may 2009 .', 'system energy may refinance or redeem debt prior to maturity , to the extent market conditions and interest and dividend rates are favorable .', 'all debt and common stock issuances by system energy require prior regulatory approval .', 'debt issuances are also subject to issuance tests set forth in its bond indentures and other agreements .', 'system energy has sufficient capacity under these tests to meet its foreseeable capital needs .', 'system energy has obtained a short-term borrowing authorization from the ferc under which it may borrow , through march 31 , 2010 , up to the aggregate amount , at any one time outstanding , of $ 200 million .', "see note 4 to the financial statements for further discussion of system energy's short-term borrowing limits .", 'system energy has also obtained an order from the ferc authorizing long-term securities issuances .', 'the current long- term authorization extends through june 2009 .', "system energy's receivables from the money pool were as follows as of december 31 for each of the following years: ."]

["in may 2007 , $ 22.5 million of system energy's receivable from the money pool was replaced by a note receivable from entergy new orleans .", 'see note 4 to the financial statements for a description of the money pool .', 'nuclear matters system energy owns and operates grand gulf .', 'system energy is , therefore , subject to the risks related to owning and operating a nuclear plant .', 'these include risks from the use , storage , handling and disposal of high-level and low-level radioactive materials , regulatory requirement changes , including changes resulting from events at other plants , limitations on the amounts and types of insurance commercially available for losses in connection with nuclear operations , and technological and financial uncertainties related to decommissioning nuclear plants at the end of their licensed lives , including the sufficiency of funds in decommissioning trusts .', 'in the event of an unanticipated early shutdown of grand gulf , system energy may be required to provide additional funds or credit support to satisfy regulatory requirements for decommissioning .', "environmental risks system energy's facilities and operations are subject to regulation by various governmental authorities having jurisdiction over air quality , water quality , control of toxic substances and hazardous and solid wastes , and other environmental matters .", 'management believes that system energy is in substantial compliance with environmental regulations currently applicable to its facilities and operations .', 'because environmental regulations are subject to change , future compliance costs cannot be precisely estimated .', "critical accounting estimates the preparation of system energy's financial statements in conformity with generally accepted accounting principles requires management to apply appropriate accounting policies and to make estimates and judgments that ."]

---------------------------------------- • 2008, 2007, 2006, 2005 • ( in thousands ), ( in thousands ), ( in thousands ), ( in thousands ) • $ 42915, $ 53620, $ 88231, $ 277287 ----------------------------------------

subtract(53620, 42915)

10705.0

how many berths per ship , to the nearest whole number , should be expected in global cruise market between 2015-2019 , assuming each ship has the same amount?

Context: ['royal caribbean cruises ltd .', '15 from two to 17 nights throughout south america , the caribbean and europe .', 'additionally , we announced that majesty of the seas will be redeployed from royal caribbean international to pullmantur in 2016 .', 'pullmantur serves the contemporary segment of the spanish , portuguese and latin american cruise mar- kets .', 'pullmantur 2019s strategy is to attract cruise guests from these target markets by providing a variety of cruising options and onboard activities directed at couples and families traveling with children .', 'over the last few years , pullmantur has systematically increased its focus on latin america and has expanded its pres- ence in that market .', 'in order to facilitate pullmantur 2019s ability to focus on its core cruise business , on march 31 , 2014 , pullmantur sold the majority of its interest in its non-core busi- nesses .', 'these non-core businesses included pullmantur 2019s land-based tour operations , travel agency and 49% ( 49 % ) interest in its air business .', 'in connection with the sale agreement , we retained a 19% ( 19 % ) interest in each of the non-core businesses as well as 100% ( 100 % ) ownership of the aircraft which are being dry leased to pullmantur air .', 'see note 1 .', 'general and note 6 .', 'other assets to our consolidated financial statements under item 8 .', 'financial statements and supplementary data for further details .', 'cdf croisi e8res de france we currently operate two ships with an aggregate capacity of approximately 2800 berths under our cdf croisi e8res de france brand .', 'cdf croisi e8res de france offers seasonal itineraries to the mediterranean , europe and caribbean .', 'during the winter season , zenith is deployed to the pullmantur brand for sailings in south america .', 'cdf croisi e8res de france is designed to serve the contemporary segment of the french cruise market by providing a brand tailored for french cruise guests .', 'tui cruises tui cruises is a joint venture owned 50% ( 50 % ) by us and 50% ( 50 % ) by tui ag , a german tourism and shipping com- pany , and is designed to serve the contemporary and premium segments of the german cruise market by offering a product tailored for german guests .', 'all onboard activities , services , shore excursions and menu offerings are designed to suit the preferences of this target market .', 'tui cruises operates three ships , mein schiff 1 , mein schiff 2 and mein schiff 3 , with an aggregate capacity of approximately 6300 berths .', 'in addition , tui cruises currently has three newbuild ships on order at the finnish meyer turku yard with an aggregate capacity of approximately 7500 berths : mein schiff 4 , scheduled for delivery in the second quarter of 2015 , mein schiff 5 , scheduled for delivery in the third quarter of 2016 and mein schiff 6 , scheduled for delivery in the second quarter of 2017 .', 'in november 2014 , we formed a strategic partnership with ctrip.com international ltd .', '( 201cctrip 201d ) , a chinese travel service provider , to operate a new cruise brand known as skysea cruises .', 'skysea cruises will offer a custom-tailored product for chinese cruise guests operating the ship purchased from celebrity cruises .', 'the new cruise line will begin service in the second quarter of 2015 .', 'we and ctrip each own 35% ( 35 % ) of the new company , skysea holding , with the balance being owned by skysea holding management and a private equity fund .', 'industry cruising is considered a well-established vacation sector in the north american market , a growing sec- tor over the long term in the european market and a developing but promising sector in several other emerging markets .', 'industry data indicates that market penetration rates are still low and that a significant portion of cruise guests carried are first-time cruisers .', 'we believe this presents an opportunity for long-term growth and a potential for increased profitability .', 'the following table details market penetration rates for north america and europe computed based on the number of annual cruise guests as a percentage of the total population : america ( 1 ) europe ( 2 ) .'] ###### Tabular Data: **************************************** year north america ( 1 ) europe ( 2 ) 2010 3.1% ( 3.1 % ) 1.1% ( 1.1 % ) 2011 3.4% ( 3.4 % ) 1.1% ( 1.1 % ) 2012 3.3% ( 3.3 % ) 1.2% ( 1.2 % ) 2013 3.4% ( 3.4 % ) 1.2% ( 1.2 % ) 2014 3.5% ( 3.5 % ) 1.3% ( 1.3 % ) **************************************** ###### Post-table: ['( 1 ) source : our estimates are based on a combination of data obtained from publicly available sources including the interna- tional monetary fund and cruise lines international association ( 201cclia 201d ) .', 'rates are based on cruise guests carried for at least two consecutive nights .', 'includes the united states of america and canada .', '( 2 ) source : our estimates are based on a combination of data obtained from publicly available sources including the interna- tional monetary fund and clia europe , formerly european cruise council .', 'we estimate that the global cruise fleet was served by approximately 457000 berths on approximately 283 ships at the end of 2014 .', 'there are approximately 33 ships with an estimated 98650 berths that are expected to be placed in service in the global cruise market between 2015 and 2019 , although it is also possible that ships could be ordered or taken out of service during these periods .', 'we estimate that the global cruise industry carried 22.0 million cruise guests in 2014 compared to 21.3 million cruise guests carried in 2013 and 20.9 million cruise guests carried in 2012 .', 'part i .']

2989.39394

RCL/2014/page_16.pdf-3

['royal caribbean cruises ltd .', '15 from two to 17 nights throughout south america , the caribbean and europe .', 'additionally , we announced that majesty of the seas will be redeployed from royal caribbean international to pullmantur in 2016 .', 'pullmantur serves the contemporary segment of the spanish , portuguese and latin american cruise mar- kets .', 'pullmantur 2019s strategy is to attract cruise guests from these target markets by providing a variety of cruising options and onboard activities directed at couples and families traveling with children .', 'over the last few years , pullmantur has systematically increased its focus on latin america and has expanded its pres- ence in that market .', 'in order to facilitate pullmantur 2019s ability to focus on its core cruise business , on march 31 , 2014 , pullmantur sold the majority of its interest in its non-core busi- nesses .', 'these non-core businesses included pullmantur 2019s land-based tour operations , travel agency and 49% ( 49 % ) interest in its air business .', 'in connection with the sale agreement , we retained a 19% ( 19 % ) interest in each of the non-core businesses as well as 100% ( 100 % ) ownership of the aircraft which are being dry leased to pullmantur air .', 'see note 1 .', 'general and note 6 .', 'other assets to our consolidated financial statements under item 8 .', 'financial statements and supplementary data for further details .', 'cdf croisi e8res de france we currently operate two ships with an aggregate capacity of approximately 2800 berths under our cdf croisi e8res de france brand .', 'cdf croisi e8res de france offers seasonal itineraries to the mediterranean , europe and caribbean .', 'during the winter season , zenith is deployed to the pullmantur brand for sailings in south america .', 'cdf croisi e8res de france is designed to serve the contemporary segment of the french cruise market by providing a brand tailored for french cruise guests .', 'tui cruises tui cruises is a joint venture owned 50% ( 50 % ) by us and 50% ( 50 % ) by tui ag , a german tourism and shipping com- pany , and is designed to serve the contemporary and premium segments of the german cruise market by offering a product tailored for german guests .', 'all onboard activities , services , shore excursions and menu offerings are designed to suit the preferences of this target market .', 'tui cruises operates three ships , mein schiff 1 , mein schiff 2 and mein schiff 3 , with an aggregate capacity of approximately 6300 berths .', 'in addition , tui cruises currently has three newbuild ships on order at the finnish meyer turku yard with an aggregate capacity of approximately 7500 berths : mein schiff 4 , scheduled for delivery in the second quarter of 2015 , mein schiff 5 , scheduled for delivery in the third quarter of 2016 and mein schiff 6 , scheduled for delivery in the second quarter of 2017 .', 'in november 2014 , we formed a strategic partnership with ctrip.com international ltd .', '( 201cctrip 201d ) , a chinese travel service provider , to operate a new cruise brand known as skysea cruises .', 'skysea cruises will offer a custom-tailored product for chinese cruise guests operating the ship purchased from celebrity cruises .', 'the new cruise line will begin service in the second quarter of 2015 .', 'we and ctrip each own 35% ( 35 % ) of the new company , skysea holding , with the balance being owned by skysea holding management and a private equity fund .', 'industry cruising is considered a well-established vacation sector in the north american market , a growing sec- tor over the long term in the european market and a developing but promising sector in several other emerging markets .', 'industry data indicates that market penetration rates are still low and that a significant portion of cruise guests carried are first-time cruisers .', 'we believe this presents an opportunity for long-term growth and a potential for increased profitability .', 'the following table details market penetration rates for north america and europe computed based on the number of annual cruise guests as a percentage of the total population : america ( 1 ) europe ( 2 ) .']

['( 1 ) source : our estimates are based on a combination of data obtained from publicly available sources including the interna- tional monetary fund and cruise lines international association ( 201cclia 201d ) .', 'rates are based on cruise guests carried for at least two consecutive nights .', 'includes the united states of america and canada .', '( 2 ) source : our estimates are based on a combination of data obtained from publicly available sources including the interna- tional monetary fund and clia europe , formerly european cruise council .', 'we estimate that the global cruise fleet was served by approximately 457000 berths on approximately 283 ships at the end of 2014 .', 'there are approximately 33 ships with an estimated 98650 berths that are expected to be placed in service in the global cruise market between 2015 and 2019 , although it is also possible that ships could be ordered or taken out of service during these periods .', 'we estimate that the global cruise industry carried 22.0 million cruise guests in 2014 compared to 21.3 million cruise guests carried in 2013 and 20.9 million cruise guests carried in 2012 .', 'part i .']

**************************************** year north america ( 1 ) europe ( 2 ) 2010 3.1% ( 3.1 % ) 1.1% ( 1.1 % ) 2011 3.4% ( 3.4 % ) 1.1% ( 1.1 % ) 2012 3.3% ( 3.3 % ) 1.2% ( 1.2 % ) 2013 3.4% ( 3.4 % ) 1.2% ( 1.2 % ) 2014 3.5% ( 3.5 % ) 1.3% ( 1.3 % ) ****************************************

divide(98650, 33)

2989.39394