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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 new york stock exchange (201cnyse 201d) for the years 2010 and 2009.. 2010 | high | low quarter ended march 31 | $44.61 | $40.10 quarter ended june 30 | 45.33 | 38.86 quarter ended september 30 | 52.11 | 43.70 quarter ended december 31 | 53.14 | 49.61 2009 | high | low quarter ended march 31 | $32.53 | $25.45 quarter ended june 30 | 34.52 | 27.93 quarter ended september 30 | 37.71 | 29.89 quarter ended december 31 | 43.84 | 35.03 on february 11, 2011, the closing price of our common stock was $56.73 per share as reported on the nyse. as of february 11, 2011, we had 397612895 outstanding shares of common stock and 463 registered holders. dividends we have not historically paid a dividend on our common stock. payment of dividends in the future, when, as and if authorized by our board of directors, would depend upon many factors, including our earnings and financial condition, restrictions under applicable law and our current and future loan agreements, our debt service requirements, our capital expenditure requirements and other factors that our board of directors may deem relevant from time to time, including the potential determination to elect reit status. in addition, the loan agreement for our revolving credit facility and term loan contain covenants that generally restrict our ability to pay dividends unless certain financial covenants are satisfied. for more information about the restrictions under the loan agreement for the revolving credit facility and term loan, our notes indentures and the loan agreement related to our securitization, see item 7 of this annual report under the caption 201cmanagement 2019s discussion and analysis of financial condition and results of operations 2014liquidity and capital resources 2014factors affecting sources of liquidity 201d and note 6 to our consolidated financial statements included in this annual report.. what was the change in the share price from lowest to highest during the quarter ended september 30 of 2010? 8.41 and how much does this change represent in relation to the lowest price of that quarter, in percentage?

0.19245

management 2019s discussion and analysis 78 jpmorgan chase & co./2018 form 10-k treasury and cio overview treasury and cio is predominantly responsible for measuring, monitoring, reporting and managing the firm 2019s liquidity, funding, capital, structural interest rate and foreign exchange risks. the risks managed by treasury and cio arise from the activities undertaken by the firm 2019s four major reportable business segments to serve their respective client bases, which generate both on- and off- balance sheet assets and liabilities. treasury and cio seek to achieve the firm 2019s asset-liability management objectives generally by investing in high- quality securities that are managed for the longer-term as part of the firm 2019s investment securities portfolio. treasury and cio also use derivatives to meet the firm 2019s asset- liability management objectives. for further information on derivatives, refer to note 5. in addition, treasury and cio manage the firm 2019s cash position primarily through depositing at central banks and investing in short-term instruments. for further information on liquidity and funding risk, refer to liquidity risk management on pages 95 2013100. for information on interest rate, foreign exchange and other risks, refer to market risk management on pages 124 2013131. the investment securities portfolio primarily consists of agency and nonagency mortgage-backed securities, u.s. and non-u.s. government securities, obligations of u.s. states and municipalities, other abs and corporate debt securities. at december 31, 2018, the investment securities portfolio was $260.1 billion, and the average credit rating of the securities comprising the portfolio was aa+ (based upon external ratings where available and, where not available, based primarily upon internal ratings that correspond to ratings as defined by s&p and moody 2019s). refer to note 10 for further information on the firm 2019s investment securities portfolio. selected income statement and balance sheet data as of or for the year ended december 31, (in millions) 2018 2017 2016 investment securities gains/ (losses) $(395) $(78) $132 available-for-sale (201cafs 201d) investment securities (average) 203449 219345 226892 held-to-maturity (201chtm 201d) investment securities (average) 31747 47927 51358 investment securities portfolio (average) 235197 267272 278250 afs investment securities (period-end) 228681 200247 236670 htm investment securities (period-end) 31434 47733 50168 investment securities portfolio (period 2013end) 260115 247980 286838 as permitted by the new hedge accounting guidance, the firm elected to transfer certain investment securities from htm to afs in the first quarter of 2018. for additional information, refer to notes 1 and 10.. as of or for the year ended december 31 (in millions) | 2018 | 2017 | 2016 investment securities gains/ (losses) | $-395 (395) | $-78 (78) | $132 available-for-sale (201cafs 201d) investment securities (average) | 203449 | 219345 | 226892 held-to-maturity (201chtm 201d) investment securities (average) | 31747 | 47927 | 51358 investment securities portfolio (average) | 235197 | 267272 | 278250 afs investment securities (period-end) | 228681 | 200247 | 236670 htm investment securities (period-end) | 31434 | 47733 | 50168 investment securities portfolio (period 2013end) | 260115 | 247980 | 286838 management 2019s discussion and analysis 78 jpmorgan chase & co./2018 form 10-k treasury and cio overview treasury and cio is predominantly responsible for measuring, monitoring, reporting and managing the firm 2019s liquidity, funding, capital, structural interest rate and foreign exchange risks. the risks managed by treasury and cio arise from the activities undertaken by the firm 2019s four major reportable business segments to serve their respective client bases, which generate both on- and off- balance sheet assets and liabilities. treasury and cio seek to achieve the firm 2019s asset-liability management objectives generally by investing in high- quality securities that are managed for the longer-term as part of the firm 2019s investment securities portfolio. treasury and cio also use derivatives to meet the firm 2019s asset- liability management objectives. for further information on derivatives, refer to note 5. in addition, treasury and cio manage the firm 2019s cash position primarily through depositing at central banks and investing in short-term instruments. for further information on liquidity and funding risk, refer to liquidity risk management on pages 95 2013100. for information on interest rate, foreign exchange and other risks, refer to market risk management on pages 124 2013131. the investment securities portfolio primarily consists of agency and nonagency mortgage-backed securities, u.s. and non-u.s. government securities, obligations of u.s. states and municipalities, other abs and corporate debt securities. at december 31, 2018, the investment securities portfolio was $260.1 billion, and the average credit rating of the securities comprising the portfolio was aa+ (based upon external ratings where available and, where not available, based primarily upon internal ratings that correspond to ratings as defined by s&p and moody 2019s). refer to note 10 for further information on the firm 2019s investment securities portfolio. selected income statement and balance sheet data as of or for the year ended december 31, (in millions) 2018 2017 2016 investment securities gains/ (losses) $(395) $(78) $132 available-for-sale (201cafs 201d) investment securities (average) 203449 219345 226892 held-to-maturity (201chtm 201d) investment securities (average) 31747 47927 51358 investment securities portfolio (average) 235197 267272 278250 afs investment securities (period-end) 228681 200247 236670 htm investment securities (period-end) 31434 47733 50168 investment securities portfolio (period 2013end) 260115 247980 286838 as permitted by the new hedge accounting guidance, the firm elected to transfer certain investment securities from htm to afs in the first quarter of 2018. for additional information, refer to notes 1 and 10.. what was the amount of the afs investment securities in 2018?

228681.0

item 7. management 2019s discussion and analysis of financial condition and results of operations our management 2019s discussion and analysis of financial condition and results of operations (md&a) is provided in addition to the accompanying consolidated financial statements and notes to assist readers in understanding our results of operations, financial condition, and cash flows. md&a is organized as follows: 2022 overview. discussion of our business and overall analysis of financial and other highlights affecting the company in order to provide context for the remainder of md&a. 2022 critical accounting estimates. accounting estimates that we believe are most important to understanding the assumptions and judgments incorporated in our reported financial results and forecasts. 2022 results of operations. an analysis of our financial results comparing 2013 to 2012 and comparing 2012 to 2022 liquidity and capital resources. an analysis of changes in our balance sheets and cash flows, and discussion of our financial condition and potential sources of liquidity. 2022 fair value of financial instruments. discussion of the methodologies used in the valuation of our financial instruments. 2022 contractual obligations and off-balance-sheet arrangements. overview of contractual obligations, contingent liabilities, commitments, and off-balance-sheet arrangements outstanding as of december 28, 2013, including expected payment schedule. the various sections of this md&a contain a number of forward-looking statements that involve a number of risks and uncertainties. words such as 201canticipates, 201d 201cexpects, 201d 201cintends, 201d 201cplans, 201d 201cbelieves, 201d 201cseeks, 201d 201cestimates, 201d 201ccontinues, 201d 201cmay, 201d 201cwill, 201d 201cshould, 201d and variations of such words and similar expressions are intended to identify such forward-looking statements. in addition, any statements that refer to projections of our future financial performance, our anticipated growth and trends in our businesses, uncertain events or assumptions, and other characterizations of future events or circumstances are forward-looking statements. such statements are based on our current expectations and could be affected by the uncertainties and risk factors described throughout this filing and particularly in 201crisk factors 201d in part i, item 1a of this form 10-k. our actual results may differ materially, and these forward-looking statements do not reflect the potential impact of any divestitures, mergers, acquisitions, or other business combinations that had not been completed as of february 14, 2014. overview our results of operations for each period were as follows:. (dollars in millions except per share amounts) | three months ended dec. 282013 | three months ended sept. 282013 | three months ended change | three months ended dec. 282013 | three months ended dec. 292012 | change net revenue | $13834 | $13483 | $351 | $52708 | $53341 | $-633 (633) gross margin | $8571 | $8414 | $157 | $31521 | $33151 | $-1630 (1630) gross margin percentage | 62.0% (62.0%) | 62.4% (62.4%) | (0.4)% (%) | 59.8% (59.8%) | 62.1% (62.1%) | (2.3)% (%) operating income | $3549 | $3504 | $45 | $12291 | $14638 | $-2347 (2347) net income | $2625 | $2950 | $-325 (325) | $9620 | $11005 | $-1385 (1385) diluted earnings per common share | $0.51 | $0.58 | $-0.07 (0.07) | $1.89 | $2.13 | $-0.24 (0.24) revenue for 2013 was down 1% (1%) from 2012. pccg experienced lower platform unit sales in the first half of the year, but saw offsetting growth in the back half as the pc market began to show signs of stabilization. dcg continued to benefit from the build out of internet cloud computing and the strength of our product portfolio resulting in increased platform volumes for dcg for the year. higher factory start-up costs for our next-generation 14nm process technology led to a decrease in gross margin compared to 2012. in response to the current business environment and to better align resources, management approved several restructuring actions including targeted workforce reductions as well as the exit of certain businesses and facilities. these actions resulted in restructuring and asset impairment charges of $240 million for 2013. table of contents. what was the change in the net revenue from 2012 to 2013? -633.0 and what was that net revenue in 2012? 53341.0 how much, then, does that change represent in relation to this 2012 net revenue, in percentage?

-0.01187

entergy corporation and subsidiaries notes to financial statements (a) consists of pollution control revenue bonds and environmental revenue bonds, some of which are secured by collateral first mortgage bonds. (b) these notes do not have a stated interest rate, but have an implicit interest rate of 4.8% (4.8%). (c) pursuant to the nuclear waste policy act of 1982, entergy 2019s nuclear owner/licensee subsidiaries have contracts with the doe for spent nuclear fuel disposal service. the contracts include a one-time fee for generation prior to april 7, 1983. entergy arkansas is the only entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term (d) see note 10 to the financial statements for further discussion of the waterford 3 and grand gulf lease obligations. (e) the fair value excludes lease obligations of $149 million at entergy louisiana and $97 million at system energy, long-term doe obligations of $181 million at entergy arkansas, and the note payable to nypa of $95 million at entergy, and includes debt due within one year. fair values are classified as level 2 in the fair value hierarchy discussed in note 16 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. the annual long-term debt maturities (excluding lease obligations and long-term doe obligations) for debt outstanding as of december 31, 2013, for the next five years are as follows: amount (in thousands). - | amount (in thousands) 2014 | $385373 2015 | $1110566 2016 | $270852 2017 | $766801 2018 | $1324616 in november 2000, entergy 2019s non-utility nuclear business purchased the fitzpatrick and indian point 3 power plants in a seller-financed transaction. entergy issued notes to nypa with seven annual installments of approximately $108 million commencing one year from the date of the closing, and eight annual installments of $20 million commencing eight years from the date of the closing. these notes do not have a stated interest rate, but have an implicit interest rate of 4.8% (4.8%). in accordance with the purchase agreement with nypa, the purchase of indian point 2 in 2001 resulted in entergy becoming liable to nypa for an additional $10 million per year for 10 years, beginning in september 2003. this liability was recorded upon the purchase of indian point 2 in september 2001. in july 2003 a payment of $102 million was made prior to maturity on the note payable to nypa. under a provision in a letter of credit supporting these notes, if certain of the utility operating companies or system energy were to default on other indebtedness, entergy could be required to post collateral to support the letter of credit. entergy gulf states louisiana, entergy louisiana, entergy mississippi, entergy texas, and system energy have obtained long-term financing authorizations from the ferc that extend through october 2015. entergy arkansas has obtained long-term financing authorization from the apsc that extends through december 2015. entergy new orleans has obtained long-term financing authorization from the city council that extends through july 2014. capital funds agreement pursuant to an agreement with certain creditors, entergy corporation has agreed to supply system energy with sufficient capital to: 2022 maintain system energy 2019s equity capital at a minimum of 35% (35%) of its total capitalization (excluding short- term debt);. what is the amount of long-term debt due in 2014, in thousands? 385373.0 and what is it for 2015, also in thousands? 1110566.0 what is, then, in thousands, the total long-term debt due in those two years, combined? 1495939.0 including the debt due in 2016, what then becomes this total?

1766791.0

abiomed, inc. and subsidiaries notes to consolidated financial statements 2014 (continued) note 14. income taxes (continued) on april 1, 2007, the company adopted financial interpretation fin no. 48, accounting for uncertainty in income taxes 2014an interpretation of fasb statement no. 109 (201cfin no. 48 201d), which clarifies the accounting for uncertainty in income taxes recognized in an enterprise 2019s financial statements in accordance with fasb statement no. 109, accounting for income taxes. fin no. 48 prescribes a recognition threshold and measurement process for recording in the financial statements uncertain tax positions taken or expected to be taken in a tax return. fin no. 48 also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition and defines the criteria that must be met for the benefits of a tax position to be recognized. as a result of its adoption of fin no. 48, the company recorded the cumulative effect of the change in accounting principle of $0.3 million as a decrease to opening retained earnings and an increase to other long-term liabilities as of april 1, 2007. this adjustment related to state nexus for failure to file tax returns in various states for the years ended march 31, 2003, 2004, and 2005. the company initiated a voluntary disclosure plan, which it completed in fiscal year 2009. the company elected to recognize interest and/or penalties related to income tax matters in income tax expense in its consolidated statements of operations. as of march 31, 2009, the company had remitted all outstanding amounts owed to each of the states in connection with the outstanding taxes owed at march 31, 2008. as such, the company had no fin no. 48 liability at march 31, 2009. on a quarterly basis, the company accrues for the effects of uncertain tax positions and the related potential penalties and interest. it is reasonably possible that the amount of the unrecognized tax benefit with respect to certain of the unrecognized tax positions will increase or decrease during the next 12 months; however, it is not expected that the change will have a significant effect on the company 2019s results of operations or financial position. a reconciliation of the beginning and ending balance of unrecognized tax benefits, excluding accrued interest recorded at march 31, 2009 (in thousands) is as follows:. balance at march 31 2008 | $168 reductions for tax positions for closing of the applicable statute of limitations | -168 (168) balance at march 31 2009 | $2014 the company and its subsidiaries are subject to u.s. federal income tax, as well as income tax of multiple state and foreign jurisdictions. the company has accumulated significant losses since its inception in 1981. all tax years remain subject to examination by major tax jurisdictions, including the federal government and the commonwealth of massachusetts. however, since the company has net operating loss and tax credit carry forwards which may be utilized in future years to offset taxable income, those years may also be subject to review by relevant taxing authorities if the carry forwards are utilized. note 15. commitments and contingencies the company 2019s acquisition of impella provided that abiomed was required to make contingent payments to impella 2019s former shareholders as follows: 2022 upon fda approval of the impella 2.5 device, a payment of $5583333 2022 upon fda approval of the impella 5.0 device, a payment of $5583333, and 2022 upon the sale of 1000 units of impella 2019s products worldwide, a payment of $5583334. the two milestones related to sales and fda approval of the impella 2.5 device were achieved and paid prior to march 31, 2009. in april 2009, the company received fda 510 (k) clearance of its impella 5.0 product, triggering an obligation to pay the milestone related to the impella 5.0 device. in may 2009, the company paid $1.8 million of this final milestone in cash and elected to pay the remaining amount through the issuance of approximately 664612 shares of common stock.. what would be the payments made upon the sale of 1000 units of impella 2019s products worldwide? 5583334.0 and converted to the single digits? 5.58333 so what was the amount paid on this final milestone in cash? 1.8 so what was the difference between these two values that will be paid through the issuance of common stock?

3.78333

2011 compared to 2010 mst 2019s net sales for 2011 decreased $311 million, or 4% (4%), compared to 2010. the decrease was attributable to decreased volume of approximately $390 million for certain ship and aviation system programs (primarily maritime patrol aircraft and ptds) and approximately $75 million for training and logistics solutions programs. partially offsetting these decreases was higher sales of about $165 million from production on the lcs program. mst 2019s operating profit for 2011 decreased $68 million, or 10% (10%), compared to 2010. the decrease was attributable to decreased operating profit of approximately $55 million as a result of increased reserves for contract cost matters on various ship and aviation system programs (including the terminated presidential helicopter program) and approximately $40 million due to lower volume and increased reserves on training and logistics solutions. partially offsetting these decreases was higher operating profit of approximately $30 million in 2011 primarily due to the recognition of reserves on certain undersea systems programs in 2010. adjustments not related to volume, including net profit rate adjustments described above, were approximately $55 million lower in 2011 compared to 2010. backlog backlog increased in 2012 compared to 2011 mainly due to increased orders on ship and aviation system programs (primarily mh-60 and lcs), partially offset decreased orders and higher sales volume on integrated warfare systems and sensors programs (primarily aegis). backlog decreased slightly in 2011 compared to 2010 primarily due to higher sales volume on various integrated warfare systems and sensors programs. trends we expect mst 2019s net sales to decline in 2013 in the low single digit percentage range as compared to 2012 due to the completion of ptds deliveries in 2012 and expected lower volume on training services programs. operating profit and margin are expected to increase slightly from 2012 levels primarily due to anticipated improved contract performance. space systems our space systems business segment is engaged in the research and development, design, engineering, and production of satellites, strategic and defensive missile systems, and space transportation systems. space systems is also responsible for various classified systems and services in support of vital national security systems. space systems 2019 major programs include the space-based infrared system (sbirs), advanced extremely high frequency (aehf) system, mobile user objective system (muos), global positioning satellite (gps) iii system, geostationary operational environmental satellite r-series (goes-r), trident ii d5 fleet ballistic missile, and orion. operating results for our space systems business segment include our equity interests in united launch alliance (ula), which provides expendable launch services for the u.s. government, united space alliance (usa), which provided processing activities for the space shuttle program and is winding down following the completion of the last space shuttle mission in 2011, and a joint venture that manages the u.k. 2019s atomic weapons establishment program. space systems 2019 operating results included the following (in millions):. - | 2012 | 2011 | 2010 net sales | $8347 | $8161 | $8268 operating profit | 1083 | 1063 | 1030 operating margins | 13.0% (13.0%) | 13.0% (13.0%) | 12.5% (12.5%) backlog at year-end | 18100 | 16000 | 17800 2012 compared to 2011 space systems 2019 net sales for 2012 increased $186 million, or 2% (2%), compared to 2011. the increase was attributable to higher net sales of approximately $150 million due to increased commercial satellite deliveries (two commercial satellites delivered in 2012 compared to one during 2011); about $125 million from the orion program due to higher volume and an increase in risk retirements; and approximately $70 million from increased volume on various strategic and defensive missile programs. partially offsetting the increases were lower net sales of approximately $105 million from certain government satellite programs (primarily sbirs and muos) as a result of decreased volume and a decline in risk retirements; and about $55 million from the nasa external tank program, which ended in connection with the completion of the space shuttle program in 2011.. what were operating profits in 2012? 1083.0 what were they in 2011? 1063.0 what is the net change? 20.0 what was the 2011 value? 1063.0 what is the net change over the 2011 value?

0.01881

entergy corporation and subsidiaries management's financial discussion and analysis the decrease in interest income in 2002 was primarily due to: fffd interest recognized in 2001 on grand gulf 1's decommissioning trust funds resulting from the final order addressing system energy's rate proceeding; fffd interest recognized in 2001 at entergy mississippi and entergy new orleans on the deferred system energy costs that were not being recovered through rates; and fffd lower interest earned on declining deferred fuel balances. the decrease in interest charges in 2002 is primarily due to: fffd a decrease of $31.9 million in interest on long-term debt primarily due to the retirement of long-term debt in late 2001 and early 2002; and fffd a decrease of $76.0 million in other interest expense primarily due to interest recorded on system energy's reserve for rate refund in 2001. the refund was made in december 2001. 2001 compared to 2000 results for the year ended december 31, 2001 for u.s. utility were also affected by an increase in interest charges of $61.5 million primarily due to: fffd the final ferc order addressing the 1995 system energy rate filing; fffd debt issued at entergy arkansas in july 2001, at entergy gulf states in june 2000 and august 2001, at entergy mississippi in january 2001, and at entergy new orleans in july 2000 and february 2001; and fffd borrowings under credit facilities during 2001, primarily at entergy arkansas. non-utility nuclear the increase in earnings in 2002 for non-utility nuclear from $128 million to $201 million was primarily due to the operation of indian point 2 and vermont yankee, which were purchased in september 2001 and july 2002, respectively. the increase in earnings in 2001 for non-utility nuclear from $49 million to $128 million was primarily due to the operation of fitzpatrick and indian point 3 for a full year, as each was purchased in november 2000, and the operation of indian point 2, which was purchased in september 2001. following are key performance measures for non-utility nuclear:. - | 2002 | 2001 | 2000 net mw in operation at december 31 | 3955 | 3445 | 2475 generation in gwh for the year | 29953 | 22614 | 7171 capacity factor for the year | 93% (93%) | 93% (93%) | 94% (94%) 2002 compared to 2001 the following fluctuations in the results of operations for non-utility nuclear in 2002 were primarily caused by the acquisitions of indian point 2 and vermont yankee (except as otherwise noted): fffd operating revenues increased $411.0 million to $1.2 billion; fffd other operation and maintenance expenses increased $201.8 million to $596.3 million; fffd depreciation and amortization expenses increased $25.1 million to $42.8 million; fffd fuel expenses increased $29.4 million to $105.2 million; fffd nuclear refueling outage expenses increased $23.9 million to $46.8 million, which was due primarily to a. what is the value of earning for non-utility nuclear in 2002? 201.0 what is the 2001 value?

128.0

entergy corporation notes to consolidated financial statements (d) the bonds are subject to mandatory tender for purchase from the holders at 100% (100%) of the principal amount outstanding on october 1, 2003 and will then be remarketed. (e) on june 1, 2002, entergy louisiana remarketed $55 million st. charles parish pollution control revenue refunding bonds due 2030, resetting the interest rate to 4.9% (4.9%) through may 2005. (f) the bonds are subject to mandatory tender for purchase from the holders at 100% (100%) of the principal amount outstanding on june 1, 2005 and will then be remarketed. (g) the fair value excludes lease obligations, long-term doe obligations, and other long-term debt and includes debt due within one year. it is determined using bid prices reported by dealer markets and by nationally recognized investment banking firms. the annual long-term debt maturities (excluding lease obligations) and annual cash sinking fund requirements for debt outstanding as of december 31, 2002, for the next five years are as follows (in thousands):. 2003 | $1150786 2004 | $925005 2005 | $540372 2006 | $139952 2007 | $475288 not included are other sinking fund requirements of approximately $30.2 million annually, which may be satisfied by cash or by certification of property additions at the rate of 167% (167%) of such requirements. in december 2002, when the damhead creek project was sold, the buyer of the project assumed all obligations under the damhead creek credit facilities and the damhead creek interest rate swap agreements. in november 2000, entergy's non-utility nuclear business purchased the fitzpatrick and indian point 3 power plants in a seller-financed transaction. entergy issued notes to nypa with seven annual installments of approximately $108 million commencing one year from the date of the closing, and eight annual installments of $20 million commencing eight years from the date of the closing. these notes do not have a stated interest rate, but have an implicit interest rate of 4.8% (4.8%). in accordance with the purchase agreement with nypa, the purchase of indian point 2 resulted in entergy's non-utility nuclear business becoming liable to nypa for an additional $10 million per year for 10 years, beginning in september 2003. this liability was recorded upon the purchase of indian point 2 in september 2001. covenants in the entergy corporation 7.75% (7.75%) notes require it to maintain a consolidated debt ratio of 65% (65%) or less of its total capitalization. if entergy's debt ratio exceeds this limit, or if entergy or certain of the domestic utility companies default on other credit facilities or are in bankruptcy or insolvency proceedings, an acceleration of the facility's maturity may occur. in january 2003, entergy paid in full, at maturity, the outstanding debt relating to the top of iowa wind project. capital funds agreement pursuant to an agreement with certain creditors, entergy corporation has agreed to supply system energy with sufficient capital to: fffd maintain system energy's equity capital at a minimum of 35% (35%) of its total capitalization (excluding short-term debt); fffd permit the continued commercial operation of grand gulf 1; fffd pay in full all system energy indebtedness for borrowed money when due; and fffd enable system energy to make payments on specific system energy debt, under supplements to the agreement assigning system energy's rights in the agreement as security for the specific debt.. what were the total payments made for the notes entergy issued to nypa that lasted 7 years? 756.0 and the amount of the installment that was paid for eight years?

20.0

performance graph the graph below compares the cumulative total shareholder return on pmi's common stock with the cumulative total return for the same period of pmi's peer group and the s&p 500 index. the graph assumes the investment of $100 as of december 31, 2013, in pmi common stock (at prices quoted on the new york stock exchange) and each of the indices as of the market close and reinvestment of dividends on a quarterly basis. date pmi pmi peer group (1) s&p 500 index. date | pmi | pmi peer group (1) | s&p 500 index december 31 2013 | $100.00 | $100.00 | $100.00 december 31 2014 | $97.90 | $107.80 | $113.70 december 31 2015 | $111.00 | $116.80 | $115.30 december 31 2016 | $120.50 | $118.40 | $129.00 december 31 2017 | $144.50 | $140.50 | $157.20 december 31 2018 | $96.50 | $127.70 | $150.30 (1) the pmi peer group presented in this graph is the same as that used in the prior year. the pmi peer group was established based on a review of four characteristics: global presence; a focus on consumer products; and net revenues and a market capitalization of a similar size to those of pmi. the review also considered the primary international tobacco companies. as a result of this review, the following companies constitute the pmi peer group: altria group, inc., anheuser-busch inbev sa/nv, british american tobacco p.l.c., the coca-cola company, colgate-palmolive co., diageo plc, heineken n.v., imperial brands plc, japan tobacco inc., johnson & johnson, kimberly-clark corporation, the kraft-heinz company, mcdonald's corp., mondel z international, inc., nestl e9 s.a., pepsico, inc., the procter & gamble company, roche holding ag, and unilever nv and plc. note: figures are rounded to the nearest $0.10.. what was the price performance of the pmi in 2014? 97.9 and by what amount did it change since 2013? -2.1 what is this amount as a portion of that price in 2013? -0.021 and what was the change in the performance price of that stock for the full five years shown in the chart? -3.5 what is this five year change as a percent of the 2013 price? -0.035 and in this same period, what was that change for the s&p 500 index? 50.3 and what was this s&p 500 index change as a percentage of its price performance in 2013? 0.503 what is, then, the difference between the pmi percentage and this s&p 500 index one for the five years?

0.538

the table below details cash capital investments for the years ended december 31, 2006, 2005, and 2004. millions of dollars 2006 2005 2004. millions of dollars | 2006 | 2005 | 2004 track | $1487 | $1472 | $1328 capacity and commercial facilities | 510 | 509 | 347 locomotives and freight cars | 135 | 98 | 125 other | 110 | 90 | 76 total | $2242 | $2169 | $1876 in 2007, we expect our total capital investments to be approximately $3.2 billion, which may include long- term leases. these investments will be used to maintain track and structures, continue capacity expansions on our main lines in constrained corridors, remove bottlenecks, upgrade and augment equipment to better meet customer needs, build and improve facilities and terminals, and develop and implement new technologies. we designed these investments to maintain infrastructure for safety, enhance customer service, promote growth, and improve operational fluidity. we expect to fund our 2007 cash capital investments through cash generated from operations, the sale or lease of various operating and non-operating properties, and cash on hand at december 31, 2006. we expect that these sources will continue to provide sufficient funds to meet our expected capital requirements for 2007. for the years ended december 31, 2006, 2005, and 2004, our ratio of earnings to fixed charges was 4.4, 2.9, and 2.1, respectively. the increases in 2006 and 2005 were driven by higher net income. the ratio of earnings to fixed charges was computed on a consolidated basis. earnings represent income from continuing operations, less equity earnings net of distributions, plus fixed charges and income taxes. fixed charges represent interest charges, amortization of debt discount, and the estimated amount representing the interest portion of rental charges. see exhibit 12 for the calculation of the ratio of earnings to fixed charges. financing activities credit facilities 2013 on december 31, 2006, we had $2 billion in revolving credit facilities available, including $1 billion under a five-year facility expiring in march 2009 and $1 billion under a five-year facility expiring in march 2010 (collectively, the "facilities"). the facilities are designated for general corporate purposes and support the issuance of commercial paper. neither of the facilities were drawn on in 2006. commitment fees and interest rates payable under the facilities are similar to fees and rates available to comparably rated investment-grade borrowers. these facilities allow for borrowings at floating rates based on london interbank offered rates, plus a spread, depending upon our senior unsecured debt ratings. the facilities require the maintenance of a minimum net worth and a debt to net worth coverage ratio. at december 31, 2006, we were in compliance with these covenants. the facilities do not include any other financial restrictions, credit rating triggers (other than rating-dependent pricing), or any other provision that could require the posting of collateral. in addition to our revolving credit facilities, we had $150 million in uncommitted lines of credit available, including $75 million that expires in march 2007 and $75 million expiring in may 2007. neither of these lines of credit were used as of december 31, 2006. we must have equivalent credit available under our five-year facilities to draw on these $75 million lines. dividends 2013 on january 30, 2007, we increased the quarterly dividend to $0.35 per share, payable beginning on april 2, 2007, to shareholders of record on february 28, 2007. we expect to fund the increase in the quarterly dividend through cash generated from operations, the sale or lease of various operating and non-operating properties, and cash on hand at december 31, 2006. dividend restrictions 2013 we are subject to certain restrictions related to the payment of cash dividends to our shareholders due to minimum net worth requirements under our credit facilities. retained earnings available. what was the difference in the cash capital investments in track between 2004 and 2005? 144.0 so what was the percentage change during this time?

0.10843

the aes corporation notes to consolidated financial statements 2014 (continued) december 31, 2017, 2016, and 2015 was dispatched starting in february 2018. aes puerto rico continues to be the lowest cost and epa compliant energy provider in puerto rico. therefore, we expect aes puerto rico to continue to be a critical supplier to prepa. starting prior to the hurricanes, prepa has been facing economic challenges that could impact the company, and on july 2, 2017, filed for bankruptcy under title iii. as a result of the bankruptcy filing, aes puerto rico and aes ilumina 2019s non-recourse debt of $365 million and $36 million, respectively, is in default and has been classified as current as of december 31, 2017. in november 2017, aes puerto rico signed a forbearance and standstill agreement with its lenders to prevent the lenders from taking any action against the company due to the default events. this agreement will expire on march 22, 2018. the company's receivable balances in puerto rico as of december 31, 2017 totaled $86 million, of which $53 million was overdue. after the filing of title iii protection, and up until the disruption caused by the hurricanes, aes in puerto rico was collecting the overdue amounts from prepa in line with historic payment patterns. considering the information available as of the filing date, management believes the carrying amount of our assets in puerto rico of $627 million is recoverable as of december 31, 2017 and no reserve on the receivables is required. foreign currency risks 2014 aes operates businesses in many foreign countries and such operations could be impacted by significant fluctuations in foreign currency exchange rates. fluctuations in currency exchange rate between u.s. dollar and the following currencies could create significant fluctuations in earnings and cash flows: the argentine peso, the brazilian real, the dominican republic peso, the euro, the chilean peso, the colombian peso, and the philippine peso. concentrations 2014 due to the geographical diversity of its operations, the company does not have any significant concentration of customers or sources of fuel supply. several of the company's generation businesses rely on ppas with one or a limited number of customers for the majority of, and in some cases all of, the relevant businesses' output over the term of the ppas. however, no single customer accounted for 10% (10%) or more of total revenue in 2017, 2016 or 2015. the cash flows and results of operations of our businesses depend on the credit quality of our customers and the continued ability of our customers and suppliers to meet their obligations under ppas and fuel supply agreements. if a substantial portion of the company's long-term ppas and/or fuel supply were modified or terminated, the company would be adversely affected to the extent that it would be unable to replace such contracts at equally favorable terms. 26. related party transactions certain of our businesses in panama and the dominican republic are partially owned by governments either directly or through state-owned institutions. in the ordinary course of business, these businesses enter into energy purchase and sale transactions, and transmission agreements with other state-owned institutions which are controlled by such governments. at two of our generation businesses in mexico, the offtakers exercise significant influence, but not control, through representation on these businesses' boards of directors. these offtakers are also required to hold a nominal ownership interest in such businesses. in chile, we provide capacity and energy under contractual arrangements to our investment which is accounted for under the equity method of accounting. additionally, the company provides certain support and management services to several of its affiliates under various agreements. the company's consolidated statements of operations included the following transactions with related parties for the periods indicated (in millions):. years ended december 31, | 2017 | 2016 | 2015 revenue 2014non-regulated | $1297 | $1100 | $1099 cost of sales 2014non-regulated | 220 | 210 | 330 interest income | 8 | 4 | 25 interest expense | 36 | 39 | 33 . what is the total of receivables from puerto rico? 86.0 what was the amount overdue? 53.0 what is the difference? 33.0 what was the total?

86.0

divestiture of our arrow and moores businesses, and an unfavorable sales mix of international plumbing products, which, in aggregate, decreased sales by two percent. net sales for 2016 were positively affected by increased sales volume of plumbing products, paints and other coating products and builders' hardware. net sales for 2016 were also positively affected by favorable sales mix of cabinets and windows, and net selling price increases of north american windows and north american and international plumbing products. net sales for 2016 were negatively affected by lower sales volume of cabinets and lower net selling prices of paints and other coating products. our gross profit margins were 32.2 percent, 34.2 percent and 33.4 percent in 2018, 2017 and 2016, respectively. the 2018 gross profit margin was negatively impacted by an increase in commodity costs, the recognition of the inventory step up adjustment established as a part of the the acquisition of kichler, an increase in other expenses (such as logistics costs and salaries) and unfavorable sales mix. these negative impacts were partially offset by an increase in net selling prices, the benefits associated with cost savings initiatives, and increased sales volume. the 2017 gross profit margin was positively impacted by increased sales volume, a more favorable relationship between net selling prices and commodity costs, and cost savings initiatives. selling, general and administrative expenses as a percent of sales were 17.7 percent in 2018 compared with 18.6 percent in 2017 and 18.7 percent in 2016. the decrease in selling, general and administrative expenses, as a percentage of sales, was driven by leverage of fixed expenses, due primarily to increased sales volume, and improved cost control. the following table reconciles reported operating profit to operating profit, as adjusted to exclude certain items, dollars in millions:. - | 2018 | 2017 | 2016 operating profit as reported | $1211 | $1194 | $1087 rationalization charges | 14 | 4 | 22 kichler inventory step up adjustment | 40 | 2014 | 2014 operating profit as adjusted | $1265 | $1198 | $1109 operating profit margins as reported | 14.5% (14.5%) | 15.6% (15.6%) | 14.8% (14.8%) operating profit margins as adjusted | 15.1% (15.1%) | 15.7% (15.7%) | 15.1% (15.1%) operating profit margin in 2018 was negatively affected by an increase in commodity costs, the recognition of the inventory step up adjustment established as a part of the the acquisition of kichler and an increase in other expenses (such as logistics costs, salaries and erp costs). these negative impacts were partially offset by increased net selling prices, benefits associated with cost savings initiatives and increased sales volume. operating profit margin in 2017 was positively impacted by increased sales volume, cost savings initiatives, and a more favorable relationship between net selling prices and commodity costs. operating profit margin in 2017 was negatively impacted by an increase in strategic growth investments and certain other expenses, including stock-based compensation, health insurance costs, trade show costs and increased head count. due to the recently-announced increase in tariffs on imported materials from china, and assuming tariffs rise to 25 percent in 2019, we could be exposed to approximately $150 million of potential annual direct cost increases. we will work to mitigate the impact of these tariffs through a combination of price increases, supplier negotiations, supply chain repositioning and other internal productivity measures. other income (expense), net other, net, for 2018 included $14 million of net periodic pension and post-retirement benefit cost and $8 million of realized foreign currency losses. these expenses were partially offset by $3 million of earnings related to equity method investments and $1 million related to distributions from private equity funds. other, net, for 2017 included $26 million related to periodic pension and post-retirement benefit costs, $13 million net loss related to the divestitures of moores and arrow and $2 million related to the impairment of a private equity fund, partially offset by $3 million related to distributions from private equity funds and $1 million of earnings related to equity method investments.. what was the operating profit margin as adjusted in 2017? 0.157 and what was it in 2016? 0.151 what was, then, the change over the year?

0.006

part ii item 5. market for registrant 2019s common equity, related stockholder matters and issuer purchases of equity securities. the company 2019s common stock is listed on the new york stock exchange. prior to the separation of alcoa corporation from the company, the company 2019s common stock traded under the symbol 201caa. 201d in connection with the separation, on november 1, 2016, the company changed its stock symbol and its common stock began trading under the symbol 201carnc. 201d on october 5, 2016, the company 2019s common shareholders approved a 1-for-3 reverse stock split of the company 2019s outstanding and authorized shares of common stock (the 201creverse stock split 201d). as a result of the reverse stock split, every 3 shares of issued and outstanding common stock were combined into one issued and outstanding share of common stock, without any change in the par value per share. the reverse stock split reduced the number of shares of common stock outstanding from approximately 1.3 billion shares to approximately 0.4 billion shares, and proportionately decreased the number of authorized shares of common stock from 1.8 billion to 0.6 billion shares. the company 2019s common stock began trading on a reverse stock split-adjusted basis on october 6, 2016. on november 1, 2016, the company completed the separation of its business into two independent, publicly traded companies: the company and alcoa corporation. the separation was effected by means of a pro rata distribution by the company of 80.1% (80.1%) of the outstanding shares of alcoa corporation common stock to the company 2019s shareholders. the company 2019s shareholders of record as of the close of business on october 20, 2016 (the 201crecord date 201d) received one share of alcoa corporation common stock for every three shares of the company 2019s common stock held as of the record date. the company retained 19.9% (19.9%) of the outstanding common stock of alcoa corporation immediately following the separation. the following table sets forth, for the periods indicated, the high and low sales prices and quarterly dividend amounts per share of the company 2019s common stock as reported on the new york stock exchange, adjusted to take into account the reverse stock split effected on october 6, 2016. the prices listed below for the fourth quarter of 2016 do not reflect any adjustment for the impact of the separation of alcoa corporation from the company on november 1, 2016, and therefore are not comparable to pre-separation prices from earlier periods.. quarter | 2016 high | 2016 low | 2016 dividend | 2016 high | 2016 low | dividend first | $30.66 | $18.42 | $0.09 | $51.30 | $37.95 | $0.09 second | 34.50 | 26.34 | 0.09 | 42.87 | 33.45 | 0.09 third | 32.91 | 27.09 | 0.09 | 33.69 | 23.91 | 0.09 fourth (separation occurred on november 1 2016) | 32.10 | 16.75 | 0.09 | 33.54 | 23.43 | 0.09 year | $34.50 | $16.75 | $0.36 | $51.30 | $23.43 | $0.36 the number of holders of record of common stock was approximately 12885 as of february 23, 2017.. what was the high sales price in the second quarter of 2016? 34.5 what was the high price in the first quarter? 30.66 what is the ratio of the high prices, second quarter to first quarter? 1.12524 what is that less 1?

0.12524

part ii item 5. market for registrant 2019s common equity, related stockholder matters and issuer purchases of equity securities. the company 2019s common stock is listed on the new york stock exchange. prior to the separation of alcoa corporation from the company, the company 2019s common stock traded under the symbol 201caa. 201d in connection with the separation, on november 1, 2016, the company changed its stock symbol and its common stock began trading under the symbol 201carnc. 201d on october 5, 2016, the company 2019s common shareholders approved a 1-for-3 reverse stock split of the company 2019s outstanding and authorized shares of common stock (the 201creverse stock split 201d). as a result of the reverse stock split, every three shares of issued and outstanding common stock were combined into one issued and outstanding share of common stock, without any change in the par value per share. the reverse stock split reduced the number of shares of common stock outstanding from approximately 1.3 billion shares to approximately 0.4 billion shares, and proportionately decreased the number of authorized shares of common stock from 1.8 billion to 0.6 billion shares. the company 2019s common stock began trading on a reverse stock split-adjusted basis on october 6, 2016. on november 1, 2016, the company completed the separation of its business into two independent, publicly traded companies: the company and alcoa corporation. the separation was effected by means of a pro rata distribution by the company of 80.1% (80.1%) of the outstanding shares of alcoa corporation common stock to the company 2019s shareholders. the company 2019s shareholders of record as of the close of business on october 20, 2016 (the 201crecord date 201d) received one share of alcoa corporation common stock for every three shares of the company 2019s common stock held as of the record date. the company retained 19.9% (19.9%) of the outstanding common stock of alcoa corporation immediately following the separation. see disposition of retained shares in note c to the consolidated financial statements in part ii item 8 of this form 10-k. the following table sets forth, for the periods indicated, the high and low sales prices and quarterly dividend amounts per share of the company 2019s common stock as reported on the new york stock exchange, adjusted to take into account the reverse stock split effected on october 6, 2016. the prices listed below for those dates prior to november 1, 2016 reflect stock trading prices of alcoa inc. prior to the separation of alcoa corporation from the company on november 1, 2016, and therefore are not comparable to the company 2019s post-separation prices.. quarter | 2017 high | 2017 low | 2017 dividend | 2017 high | 2017 low | dividend first | $30.69 | $18.64 | $0.06 | $30.66 | $18.42 | $0.09 second | 28.65 | 21.76 | 0.06 | 34.50 | 26.34 | 0.09 third | 26.84 | 22.67 | 0.06 | 32.91 | 27.09 | 0.09 fourth (separation occurred on november 1 2016) | 27.85 | 22.74 | 0.06 | 32.10 | 16.75 | 0.09 year | $30.69 | $18.64 | $0.24 | $34.50 | $16.75 | $0.36 the number of holders of record of common stock was approximately 12271 as of february 16, 2018.. what is the highest stock price in the second quarter of 2017? 28.65 what about the lowest stock price? 21.76 what is the sum of these two?

50.41

notes to consolidated financial statements 2013 (continued) (amounts in millions, except per share amounts) cash flows for 2010, we expect to contribute $25.2 and $9.2 to our foreign pension plans and domestic pension plans, respectively. a significant portion of our contributions to the foreign pension plans relate to the u.k. pension plan. additionally, we are in the process of modifying the schedule of employer contributions for the u.k. pension plan and we expect to finalize this during 2010. as a result, we expect our contributions to our foreign pension plans to increase from current levels in 2010 and subsequent years. during 2009, we contributed $31.9 to our foreign pension plans and contributions to the domestic pension plan were negligible. the following estimated future benefit payments, which reflect future service, as appropriate, are expected to be paid in the years indicated below. domestic pension plans foreign pension plans postretirement benefit plans. years | domestic pension plans | foreign pension plans | postretirement benefit plans 2010 | $17.2 | $23.5 | $5.8 2011 | 11.1 | 24.7 | 5.7 2012 | 10.8 | 26.4 | 5.7 2013 | 10.5 | 28.2 | 5.6 2014 | 10.5 | 32.4 | 5.5 2015 2013 2019 | 48.5 | 175.3 | 24.8 the estimated future payments for our postretirement benefit plans are before any estimated federal subsidies expected to be received under the medicare prescription drug, improvement and modernization act of 2003. federal subsidies are estimated to range from $0.5 in 2010 to $0.6 in 2014 and are estimated to be $2.4 for the period 2015-2019. 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 allows 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 2009, 2008 and 2007 were $35.1, $29.6 and $31.4, respectively. expense includes a discretionary company contribution of $3.8, $4.0 and $4.9 offset by participant forfeitures of $2.7, $7.8, $6.0 in 2009, 2008 and 2007, respectively. in addition, we maintain defined contribution plans in various foreign countries and contributed $25.0, $28.7 and $26.7 to these plans in 2009, 2008 and 2007, respectively. deferred compensation and benefit arrangements we have deferred compensation 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. the arrangements typically provide that the participant will receive the amounts deferred plus interest upon attaining certain conditions, such as completing a certain number of years of service or upon retirement or termination. as of december 31, 2009 and 2008, the deferred compensation liability balance was $100.3 and $107.6, respectively. amounts expensed for deferred compensation arrangements in 2009, 2008 and 2007 were $11.6, $5.7 and $11.9, respectively. we have deferred benefit arrangements with certain key officers and employees that provide participants with an annual payment, payable when the participant attains a certain age and after the participant 2019s employment has terminated. the deferred benefit liability was $178.2 and $182.1 as of december 31, 2009 and 2008, respectively. amounts expensed for deferred benefit arrangements in 2009, 2008 and 2007 were $12.0, $14.9 and $15.5, 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, 2009 and 2008, the cash surrender value of these policies was $119.4 and $100.2, respectively. in addition to the life insurance policies, certain investments are held for the purpose of paying the deferred compensation and deferred benefit liabilities. these investments, along with the life insurance policies, are held in a separate revocable trust for the purpose of paying the deferred compensation and the deferred benefit. how much was contributed to defined contribution plans for foreign countries in 2008? 28.7 how much was contributed in 2007?

26.7

impairment the following table presents net unrealized losses on securities available for sale as of december 31:. (in millions) | 2011 | 2010 fair value | $99832 | $81881 amortized cost | 100013 | 82329 net unrealized loss pre-tax | $-181 (181) | $-448 (448) net unrealized loss after-tax | $-113 (113) | $-270 (270) the net unrealized amounts presented above excluded the remaining net unrealized losses related to reclassifications of securities available for sale to securities held to maturity. these unrealized losses related to reclassifications totaled $303 million, or $189 million after-tax, and $523 million, or $317 million after-tax, as of december 31, 2011 and 2010, respectively, and were recorded in accumulated other comprehensive income, or oci. refer to note 12 to the consolidated financial statements included under item 8. the decline in these remaining after-tax unrealized losses related to reclassifications from december 31, 2010 to december 31, 2011 resulted primarily from amortization. we conduct periodic reviews of individual securities to assess whether other-than-temporary impairment exists. to the extent that other-than-temporary impairment is identified, the impairment is broken into a credit component and a non-credit component. the credit component is recorded in our consolidated statement of income, and the non-credit component is recorded in oci to the extent that we do not intend to sell the security. our assessment of other-than-temporary impairment involves an evaluation, more fully described in note 3, of economic and security-specific factors. such factors are based on estimates, derived by management, which contemplate current market conditions and security-specific performance. to the extent that market conditions are worse than management 2019s expectations, other-than-temporary impairment could increase, in particular, the credit component that would be recorded in our consolidated statement of income. given the exposure of our investment securities portfolio, particularly mortgage- and asset-backed securities, to residential mortgage and other consumer credit risks, the performance of the u.s. housing market is a significant driver of the portfolio 2019s credit performance. as such, our assessment of other-than-temporary impairment relies to a significant extent on our estimates of trends in national housing prices. generally, indices that measure trends in national housing prices are published in arrears. as of september 30, 2011, national housing prices, according to the case-shiller national home price index, had declined by approximately 31.3% (31.3%) peak-to-current. overall, management 2019s expectation, for purposes of its evaluation of other-than-temporary impairment as of december 31, 2011, was that housing prices would decline by approximately 35% (35%) peak-to-trough. the performance of certain mortgage products and vintages of securities continues to deteriorate. in addition, management continues to believe that housing prices will decline further as indicated above. the combination of these factors has led to an increase in management 2019s overall loss expectations. our investment portfolio continues to be sensitive to management 2019s estimates of future cumulative losses. ultimately, other-than- temporary impairment is based on specific cusip-level detailed analysis of the unique characteristics of each security. in addition, we perform sensitivity analysis across each significant product type within the non-agency u.s. residential mortgage-backed portfolio. we estimate, for example, that other-than-temporary impairment of the investment portfolio could increase by approximately $10 million to $50 million, if national housing prices were to decline by 37% (37%) to 39% (39%) peak-to-trough, compared to management 2019s expectation of 35% (35%) described above. this sensitivity estimate is based on a number of factors, including, but not limited to, the level of housing prices and the timing of defaults. to the extent that such factors differ substantially from management 2019s current expectations, resulting loss estimates may differ materially from those stated. excluding the securities for which other-than-temporary impairment was recorded in 2011, management considers the aggregate decline in fair value of the remaining. what was the fair value in 2011? 99832.0 what was it in 2010?

81881.0

abiomed, inc. and subsidiaries notes to consolidated financial statements 2014 (continued) note 14. income taxes (continued) on april 1, 2007, the company adopted financial interpretation fin no. 48, accounting for uncertainty in income taxes 2014an interpretation of fasb statement no. 109 (201cfin no. 48 201d), which clarifies the accounting for uncertainty in income taxes recognized in an enterprise 2019s financial statements in accordance with fasb statement no. 109, accounting for income taxes. fin no. 48 prescribes a recognition threshold and measurement process for recording in the financial statements uncertain tax positions taken or expected to be taken in a tax return. fin no. 48 also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition and defines the criteria that must be met for the benefits of a tax position to be recognized. as a result of its adoption of fin no. 48, the company recorded the cumulative effect of the change in accounting principle of $0.3 million as a decrease to opening retained earnings and an increase to other long-term liabilities as of april 1, 2007. this adjustment related to state nexus for failure to file tax returns in various states for the years ended march 31, 2003, 2004, and 2005. the company initiated a voluntary disclosure plan, which it completed in fiscal year 2009. the company elected to recognize interest and/or penalties related to income tax matters in income tax expense in its consolidated statements of operations. as of march 31, 2009, the company had remitted all outstanding amounts owed to each of the states in connection with the outstanding taxes owed at march 31, 2008. as such, the company had no fin no. 48 liability at march 31, 2009. on a quarterly basis, the company accrues for the effects of uncertain tax positions and the related potential penalties and interest. it is reasonably possible that the amount of the unrecognized tax benefit with respect to certain of the unrecognized tax positions will increase or decrease during the next 12 months; however, it is not expected that the change will have a significant effect on the company 2019s results of operations or financial position. a reconciliation of the beginning and ending balance of unrecognized tax benefits, excluding accrued interest recorded at march 31, 2009 (in thousands) is as follows:. balance at march 31 2008 | $168 reductions for tax positions for closing of the applicable statute of limitations | -168 (168) balance at march 31 2009 | $2014 the company and its subsidiaries are subject to u.s. federal income tax, as well as income tax of multiple state and foreign jurisdictions. the company has accumulated significant losses since its inception in 1981. all tax years remain subject to examination by major tax jurisdictions, including the federal government and the commonwealth of massachusetts. however, since the company has net operating loss and tax credit carry forwards which may be utilized in future years to offset taxable income, those years may also be subject to review by relevant taxing authorities if the carry forwards are utilized. note 15. commitments and contingencies the company 2019s acquisition of impella provided that abiomed was required to make contingent payments to impella 2019s former shareholders as follows: 2022 upon fda approval of the impella 2.5 device, a payment of $5583333 2022 upon fda approval of the impella 5.0 device, a payment of $5583333, and 2022 upon the sale of 1000 units of impella 2019s products worldwide, a payment of $5583334. the two milestones related to sales and fda approval of the impella 2.5 device were achieved and paid prior to march 31, 2009. in april 2009, the company received fda 510 (k) clearance of its impella 5.0 product, triggering an obligation to pay the milestone related to the impella 5.0 device. in may 2009, the company paid $1.8 million of this final milestone in cash and elected to pay the remaining amount through the issuance of approximately 664612 shares of common stock.. what was the contingent payments to impella 2019s former shareholders if impella 2.5 and impella 5.0 are approved?

11166666.0

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 . what was the weighted average exercise price per share in 2007? 60.94 and what was it in 2005? 25.14 what was, then, the change over the years? 35.8 what was the weighted average exercise price per share in 2005?

25.14

republic services, inc. notes to consolidated financial statements 2014 (continued) 16. financial instruments fuel hedges we have entered into multiple swap agreements designated as cash flow hedges to mitigate some of our exposure related to changes in diesel fuel prices. these swaps qualified for, and were designated as, effective hedges of changes in the prices of forecasted diesel fuel purchases (fuel hedges). the following table summarizes our outstanding fuel hedges as of december 31, 2016: year gallons hedged weighted average contract price per gallon. year | gallons hedged | weighted average contractprice per gallon 2017 | 12000000 | $2.92 2018 | 3000000 | 2.61 if the national u.s. on-highway average price for a gallon of diesel fuel as published by the department of energy exceeds the contract price per gallon, we receive the difference between the average price and the contract price (multiplied by the notional gallons) from the counterparty. if the average price is less than the contract price per gallon, we pay the difference to the counterparty. the fair values of our fuel hedges are determined using standard option valuation models with assumptions about commodity prices based on those observed in underlying markets (level 2 in the fair value hierarchy). the aggregate fair values of our outstanding fuel hedges as of december 31, 2016 and 2015 were current liabilities of $2.7 million and $37.8 million, respectively, and have been recorded in other accrued liabilities in our consolidated balance sheets. the ineffective portions of the changes in fair values resulted in a gain of $0.8 million for the year ended december 31, 2016, and a loss of $0.4 million and $0.5 million for the years ended december 31, 2015 and 2014, respectively, and have been recorded in other income, net in our consolidated statements of income. total gain (loss) recognized in other comprehensive income (loss) for fuel hedges (the effective portion) was $20.7 million, $(2.0) million and $(24.2) million, for the years ended december 31, 2016, 2015 and 2014, respectively. we classify cash inflows and outflows from our fuel hedges within operating activities in the unaudited consolidated statements of cash flows. recycling commodity hedges revenue from the sale of recycled commodities is primarily from sales of old corrugated containers and old newsprint. from time to time we use derivative instruments such as swaps and costless collars designated as cash flow hedges to manage our exposure to changes in prices of these commodities. during 2016, we entered into multiple agreements related to the forecasted occ sales. the agreements qualified for, and were designated as, effective hedges of changes in the prices of certain forecasted recycling commodity sales (commodity hedges). we entered into costless collar agreements on forecasted sales of occ. the agreements involve combining a purchased put option giving us the right to sell occ at an established floor strike price with a written call option obligating us to deliver occ at an established cap strike price. the puts and calls have the same settlement dates, are net settled in cash on such dates and have the same terms to expiration. the contemporaneous combination of options resulted in no net premium for us and represents costless collars. under these agreements, we will make or receive no payments as long as the settlement price is between the floor price and cap price; however, if the settlement price is above the cap, we will pay the counterparty an amount equal to the excess of the settlement price over the cap times the monthly volumes hedged. if the settlement price is below the floor, the counterparty will pay us the deficit of the settlement price below the floor times the monthly volumes hedged. the objective of these agreements is to reduce variability of cash flows for forecasted sales of occ between two designated strike prices.. how much did the gallons hedged in 2018 represent in relation to the ones hedged in 2017? 4.0 and in the previous year of this period, what was the aggregate fair value of the outstanding fuel hedges? 37.8 what was it in 2015? 2.7 how much, then, did the 2016 fair value represent in relation to this 2015 one?

14.0

part ii. item 5. market for registrant 2019s common equity, related stockholder matters and issuer purchases of equity securities our common stock is traded on the nasdaq global select market under the symbol cdns. as of february 2, 2019, we had 523 registered stockholders and approximately 56000 beneficial owners of our common stock. stockholder return performance graph the following graph compares the cumulative 5-year total stockholder return on our common stock relative to the cumulative total return of the nasdaq composite index, the s&p 500 index and the s&p 500 information technology index. the graph assumes that the value of the investment in our common stock and in each index on december 28, 2013 (including reinvestment of dividends) was $100 and tracks it each year thereafter on the last day of our fiscal year through december 29, 2018 and, for each index, on the last day of the calendar year. comparison of 5 year cumulative total return* among cadence design systems, inc., the nasdaq composite index, the s&p 500 index and the s&p 500 information technology index 12/29/181/2/16 12/30/1712/28/13 12/31/161/3/15 *$100 invested on 12/28/13 in stock or index, including reinvestment of dividends. fiscal year ending december 29. copyright a9 2019 standard & poor 2019s, a division of s&p global. all rights reserved. nasdaq compositecadence design systems, inc. s&p 500 s&p 500 information technology. - | 12/28/2013 | 1/3/2015 | 1/2/2016 | 12/31/2016 | 12/30/2017 | 12/29/2018 cadence design systems inc. | $100.00 | $135.18 | $149.39 | $181.05 | $300.22 | $311.13 nasdaq composite | 100.00 | 112.60 | 113.64 | 133.19 | 172.11 | 165.84 s&p 500 | 100.00 | 110.28 | 109.54 | 129.05 | 157.22 | 150.33 s&p 500 information technology | 100.00 | 115.49 | 121.08 | 144.85 | 201.10 | 200.52 the stock price performance included in this graph is not necessarily indicative of future stock price performance.. what is the change in price of the s&p 500 from 2015 to 2016? 18.77 what is 100000 divided by 100? 1000.0 what is the product of the change by the quotient?

18770.0

middleton's reported cigars shipment volume for 2012 decreased 0.7% (0.7%) due primarily to changes in trade inventories, partially offset by volume growth as a result of retail share gains. in the cigarette category, marlboro's 2012 retail share performance continued to benefit from the brand-building initiatives supporting marlboro's new architecture. marlboro's retail share for 2012 increased 0.6 share points versus 2011 to 42.6% (42.6%). in january 2013, pm usa expanded distribution of marlboro southern cut nationally. marlboro southern cut is part of the marlboro gold family. pm usa's 2012 retail share increased 0.8 share points versus 2011, reflecting retail share gains by marlboro and by l&m in discount. these gains were partially offset by share losses on other portfolio brands. in the machine-made large cigars category, black & mild's retail share for 2012 increased 0.5 share points. the brand benefited from new untipped cigarillo varieties that were introduced in 2011, black & mild seasonal offerings and the 2012 third-quarter introduction of black & mild jazz untipped cigarillos into select geographies. in december 2012, middleton announced plans to launch nationally black & mild jazz cigars in both plastic tip and wood tip in the first quarter of 2013. the following discussion compares smokeable products segment results for the year ended december 31, 2011 with the year ended december 31, 2010. net revenues, which include excise taxes billed to customers, decreased $221 million (1.0% (1.0%)) due to lower shipment volume ($1051 million), partially offset by higher net pricing ($830 million), which includes higher promotional investments. operating companies income increased $119 million (2.1% (2.1%)), due primarily to higher net pricing ($831 million), which includes higher promotional investments, marketing, administration, and research savings reflecting cost reduction initiatives ($198 million) and 2010 implementation costs related to the closure of the cabarrus, north carolina manufacturing facility ($75 million), partially offset by lower volume ($527 million), higher asset impairment and exit costs due primarily to the 2011 cost reduction program ($158 million), higher per unit settlement charges ($120 million), higher charges related to tobacco and health judgments ($87 million) and higher fda user fees ($73 million). for 2011, total smokeable products shipment volume decreased 4.0% (4.0%) versus 2010. pm usa's reported domestic cigarettes shipment volume declined 4.0% (4.0%) versus 2010 due primarily to retail share losses and one less shipping day, partially offset by changes in trade inventories. after adjusting for changes in trade inventories and one less shipping day, pm usa's 2011 domestic cigarette shipment volume was estimated to be down approximately 4% (4%) versus 2010. pm usa believes that total cigarette category volume for 2011 decreased approximately 3.5% (3.5%) versus 2010, when adjusted primarily for changes in trade inventories and one less shipping day. pm usa's total premium brands (marlboro and other premium brands) shipment volume decreased 4.3% (4.3%). marlboro's shipment volume decreased 3.8% (3.8%) versus 2010. in the discount brands, pm usa's shipment volume decreased 0.9% (0.9%). pm usa's shipments of premium cigarettes accounted for 93.7% (93.7%) of its reported domestic cigarettes shipment volume for 2011, down from 93.9% (93.9%) in 2010. middleton's 2011 reported cigars shipment volume was unchanged versus 2010. for 2011, pm usa's retail share of the cigarette category declined 0.8 share points to 49.0% (49.0%) due primarily to retail share losses on marlboro. marlboro's 2011 retail share decreased 0.6 share points. in 2010, marlboro delivered record full-year retail share results that were achieved at lower margin levels. middleton retained a leading share of the tipped cigarillo segment of the machine-made large cigars category, with a retail share of approximately 84% (84%) in 2011. for 2011, middleton's retail share of the cigar category increased 0.3 share points to 29.7% (29.7%) versus 2010. black & mild's 2011 retail share increased 0.5 share points, as the brand benefited from new product introductions. during the fourth quarter of 2011, middleton broadened its untipped cigarillo portfolio with new aroma wrap 2122 foil pouch packaging that accompanied the national introduction of black & mild wine. this new fourth- quarter packaging roll-out also included black & mild sweets and classic varieties. during the second quarter of 2011, middleton entered into a contract manufacturing arrangement to source the production of a portion of its cigars overseas. middleton entered into this arrangement to access additional production capacity in an uncertain competitive environment and an excise tax environment that potentially benefits imported large cigars over those manufactured domestically. smokeless products segment the smokeless products segment's operating companies income grew during 2012 driven by higher pricing, copenhagen and skoal's combined volume and retail share performance and effective cost management. the following table summarizes smokeless products segment shipment volume performance: shipment volume for the years ended december 31. (cans and packs in millions) | shipment volumefor the years ended december 31, 2012 | shipment volumefor the years ended december 31, 2011 | shipment volumefor the years ended december 31, 2010 copenhagen | 392.5 | 354.2 | 327.5 skoal | 288.4 | 286.8 | 274.4 copenhagenandskoal | 680.9 | 641.0 | 601.9 other | 82.4 | 93.6 | 122.5 total smokeless products | 763.3 | 734.6 | 724.4 volume includes cans and packs sold, as well as promotional units, but excludes international volume, which is not material to the smokeless products segment. other includes certain usstc and pm usa smokeless products. new types of smokeless products, as well as new packaging configurations. what was the difference in total shipment volume between 2010 and 2011? 10.2 and the specific value for 2010? 724.4 so what was the growth rate over this time?

0.01408

credit facility, which was amended in 2013 and 2012. in march 2014, the company 2019s credit facility was further amended to extend the maturity date to march 2019. the amount of the aggregate commitment is $3.990 billion (the 201c2014 credit facility 201d). the 2014 credit facility permits the company to request up to an additional $1.0 billion of borrowing capacity, subject to lender credit approval, increasing the overall size of the 2014 credit facility to an aggregate principal amount not to exceed $4.990 billion. interest on borrowings outstanding accrues at a rate based on the applicable london interbank offered rate plus a spread. the 2014 credit facility requires the company not to exceed a maximum leverage ratio (ratio of net debt to earnings before interest, taxes, depreciation and amortization, 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, 2014. the 2014 credit facility provides back-up liquidity, funds ongoing working capital for general corporate purposes and funds various investment opportunities. at december 31, 2014, the company had no amount outstanding under the 2014 credit facility. 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. blackrock increased the maximum aggregate amount that could be borrowed under the cp program to $3.5 billion in 2011 and to $3.785 billion in 2012. in april 2013, blackrock increased the maximum aggregate amount for which the company could issue unsecured cp notes on a private-placement basis up to a maximum aggregate amount outstanding at any time of $3.990 billion. the cp program is currently supported by the 2014 credit facility. at december 31, 2014, 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, 2014 included the following: (in millions) maturity amount unamortized discount carrying value fair value. (in millions) | maturity amount | unamortized discount | carrying value | fair value 1.375% (1.375%) notes due 2015 | $750 | $2014 | $750 | $753 6.25% (6.25%) notes due 2017 | 700 | -1 (1) | 699 | 785 5.00% (5.00%) notes due 2019 | 1000 | -2 (2) | 998 | 1134 4.25% (4.25%) notes due 2021 | 750 | -3 (3) | 747 | 825 3.375% (3.375%) notes due 2022 | 750 | -3 (3) | 747 | 783 3.50% (3.50%) notes due 2024 | 1000 | -3 (3) | 997 | 1029 total long-term borrowings | $4950 | $-12 (12) | $4938 | $5309 long-term borrowings at december 31, 2013 had a carrying value of $4.939 billion and a fair value of $5.284 billion determined using market prices at the end of december 2013. 2024 notes. in march 2014, the company issued $1.0 billion in aggregate principal amount of 3.50% (3.50%) senior unsecured and unsubordinated notes maturing on march 18, 2024 (the 201c2024 notes 201d). the net proceeds of the 2024 notes were used to refinance certain indebtedness which matured in the fourth quarter of 2014. interest is payable semi-annually in arrears on march 18 and september 18 of each year, or approximately $35 million per year. the 2024 notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price. the 2024 notes were issued at a discount of $3 million that is being amortized over the term of the notes. the company incurred approximately $6 million of debt issuance costs, which are being amortized over the term of the 2024 notes. at december 31, 2014, $6 million of unamortized debt issuance costs was included in other assets on the consolidated statement of financial condition. 2015 and 2022 notes. in may 2012, the company issued $1.5 billion in aggregate principal amount of unsecured unsubordinated obligations. these notes were issued as two separate series of senior debt securities, including $750 million of 1.375% (1.375%) notes maturing in june 2015 (the 201c2015 notes 201d) and $750 million of 3.375% (3.375%) notes maturing in june 2022 (the 201c2022 notes 201d). net proceeds were used to fund the repurchase of blackrock 2019s common stock and series b preferred from barclays and affiliates and for general corporate purposes. interest on the 2015 notes and the 2022 notes of approximately $10 million and $25 million per year, respectively, is payable semi-annually on june 1 and december 1 of each year, which commenced december 1, 2012. the 2015 notes and 2022 notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price. the 201cmake-whole 201d redemption price represents a price, subject to the specific terms of the 2015 and 2022 notes and related indenture, that is the greater of (a) par value and (b) the present value of future payments that will not be paid because of an early redemption, which is discounted at a fixed spread over a comparable treasury security. the 2015 notes and 2022 notes were issued at a discount of $5 million that is being amortized over the term of the notes. the company incurred approximately $7 million of debt issuance costs, which are being amortized over the respective terms of the 2015 notes and 2022 notes. at december 31, 2014, $4 million of unamortized debt issuance costs was included in other assets on the consolidated statement of financial condition. 2021 notes. in may 2011, the company issued $1.5 billion in aggregate principal amount of unsecured unsubordinated obligations. these notes were issued as two separate series of senior debt securities, including $750 million of 4.25% (4.25%) notes maturing in may 2021 and $750 million of floating rate notes (201c2013 floating rate notes 201d), which were repaid in may 2013 at maturity. net proceeds of this offering were used to fund the repurchase of blackrock 2019s series b preferred from affiliates of merrill lynch & co., inc. (201cmerrill lynch 201d). interest. what was the amount of notes maturing in june 2022?

750.0

page 31 of 94 other liquidity items cash payments required for long-term debt maturities, rental payments under noncancellable operating leases, purchase obligations and other commitments in effect at december 31, 2007, are summarized in the following table:. ($in millions) | payments due by period (a) total | payments due by period (a) less than 1 year | payments due by period (a) 1-3 years | payments due by period (a) 3-5 years | payments due by period (a) more than 5 years long-term debt | $2302.6 | $126.1 | $547.6 | $1174.9 | $454.0 capital lease obligations | 4.4 | 1.0 | 0.8 | 0.5 | 2.1 interest payments on long-term debt (b) | 698.6 | 142.9 | 246.3 | 152.5 | 156.9 operating leases | 218.5 | 49.9 | 71.7 | 42.5 | 54.4 purchase obligations (c) | 6092.6 | 2397.2 | 3118.8 | 576.6 | 2013 common stock repurchase agreements | 131.0 | 131.0 | 2013 | 2013 | 2013 legal settlement | 70.0 | 70.0 | 2013 | 2013 | 2013 total payments on contractual obligations | $9517.7 | $2918.1 | $3985.2 | $1947.0 | $667.4 total payments on contractual obligations $9517.7 $2918.1 $3985.2 $1947.0 $667.4 (a) amounts reported in local currencies have been translated at the year-end exchange rates. (b) for variable rate facilities, amounts are based on interest rates in effect at year end and do not contemplate the effects of hedging instruments. (c) the company 2019s purchase obligations include contracted amounts for aluminum, steel, plastic resin and other direct materials. also included are commitments for purchases of natural gas and electricity, aerospace and technologies contracts and other less significant items. in cases where variable prices and/or usage are involved, management 2019s best estimates have been used. depending on the circumstances, early termination of the contracts may not result in penalties and, therefore, actual payments could vary significantly. contributions to the company 2019s defined benefit pension plans, not including the unfunded german plans, are expected to be $49 million in 2008. this estimate may change based on plan asset performance. benefit payments related to these plans are expected to be $66 million, $70 million, $74 million, $77 million and $82 million for the years ending december 31, 2008 through 2012, respectively, and a total of $473 million for the years 2013 through 2017. payments to participants in the unfunded german plans are expected to be approximately $26 million in each of the years 2008 through 2012 and a total of $136 million for the years 2013 through 2017. in accordance with united kingdom pension regulations, ball has provided an a38 million guarantee to the plan for its defined benefit plan in the united kingdom. if the company 2019s credit rating falls below specified levels, ball will be required to either: (1) contribute an additional a38 million to the plan; (2) provide a letter of credit to the plan in that amount or (3) if imposed by the appropriate regulatory agency, provide a lien on company assets in that amount for the benefit of the plan. the guarantee can be removed upon approval by both ball and the pension plan trustees. our share repurchase program in 2007 was $211.3 million, net of issuances, compared to $45.7 million net repurchases in 2006 and $358.1 million in 2005. the net repurchases included the $51.9 million settlement on january 5, 2007, of a forward contract entered into in december 2006 for the repurchase of 1200000 shares. however, the 2007 net repurchases did not include a forward contract entered into in december 2007 for the repurchase of 675000 shares. the contract was settled on january 7, 2008, for $31 million in cash. on december 12, 2007, in a privately negotiated transaction, ball entered into an accelerated share repurchase agreement to buy $100 million of its common shares using cash on hand and available borrowings. the company advanced the $100 million on january 7, 2008, and received approximately 2 million shares, which represented 90 percent of the total shares as calculated using the previous day 2019s closing price. the exact number of shares to be repurchased under the agreement, which will be determined on the settlement date (no later than june 5, 2008), is subject to an adjustment based on a weighted average price calculation for the period between the initial purchase date and the settlement date. the company has the option to settle the contract in either cash or shares. including the settlements of the forward share purchase contract and the accelerated share repurchase agreement, we expect to repurchase approximately $300 million of our common shares, net of issuances, in 2008. annual cash dividends paid on common stock were 40 cents per share in 2007, 2006 and 2005. total dividends paid were $40.6 million in 2007, $41 million in 2006 and $42.5 million in 2005.. what is the last year in which payments to participants in the unfunded german plans are expected to be approximately $26 million?

2012.0

mandatorily redeemable securities of subsidiary trusts total mandatorily redeemable securities of subsidiary trusts (trust preferred securities), which qualify as tier 1 capital, were $23.899 billion at december 31, 2008, as compared to $23.594 billion at december 31, 2007. in 2008, citigroup did not issue any new enhanced trust preferred securities. the frb issued a final rule, with an effective date of april 11, 2005, which retains trust preferred securities in tier 1 capital of bank holding companies, but with stricter quantitative limits and clearer qualitative standards. under the rule, after a five-year transition period, the aggregate amount of trust preferred securities and certain other restricted core capital elements included in tier 1 capital of internationally active banking organizations, such as citigroup, would be limited to 15% (15%) of total core capital elements, net of goodwill, less any associated deferred tax liability. the amount of trust preferred securities and certain other elements in excess of the limit could be included in tier 2 capital, subject to restrictions. at december 31, 2008, citigroup had approximately 11.8% (11.8%) against the limit. the company expects to be within restricted core capital limits prior to the implementation date of march 31, 2009. the frb permits additional securities, such as the equity units sold to adia, to be included in tier 1 capital up to 25% (25%) (including the restricted core capital elements in the 15% (15%) limit) of total core capital elements, net of goodwill less any associated deferred tax liability. at december 31, 2008, citigroup had approximately 16.1% (16.1%) against the limit. the frb granted interim capital relief for the impact of adopting sfas 158 at december 31, 2008 and december 31, 2007. the frb and the ffiec may propose amendments to, and issue interpretations of, risk-based capital guidelines and reporting instructions. these may affect reported capital ratios and net risk-weighted assets. capital resources of citigroup 2019s depository institutions citigroup 2019s subsidiary depository institutions in the united states are subject to risk-based capital guidelines issued by their respective primary federal bank regulatory agencies, which are similar to the frb 2019s guidelines. to be 201cwell capitalized 201d under federal bank regulatory agency definitions, citigroup 2019s depository institutions must have a tier 1 capital ratio of at least 6% (6%), a total capital (tier 1 + tier 2 capital) ratio of at least 10% (10%) and a leverage ratio of at least 5% (5%), and not be subject to a regulatory directive to meet and maintain higher capital levels. at december 31, 2008, all of citigroup 2019s subsidiary depository institutions were 201cwell capitalized 201d under the federal regulatory agencies 2019 definitions, including citigroup 2019s primary depository institution, citibank, n.a., as noted in the following table: citibank, n.a. components of capital and ratios under regulatory guidelines in billions of dollars at year end 2008 2007. in billions of dollars at year end | 2008 | 2007 tier 1 capital | $71.0 | $82.0 total capital (tier 1 and tier 2) | 108.4 | 121.6 tier 1 capital ratio | 9.94% (9.94%) | 8.98% (8.98%) total capital ratio (tier 1 and tier 2) | 15.18 | 13.33 leverage ratio (1) | 5.82 | 6.65 leverage ratio (1) 5.82 6.65 (1) tier 1 capital divided by adjusted average assets. citibank, n.a. had a net loss for 2008 amounting to $6.2 billion. during 2008, citibank, n.a. received contributions from its parent company of $6.1 billion. citibank, n.a. did not issue any additional subordinated notes in 2008. total subordinated notes issued to citicorp holdings inc. that were outstanding at december 31, 2008 and december 31, 2007 and included in citibank, n.a. 2019s tier 2 capital, amounted to $28.2 billion. citibank, n.a. received an additional $14.3 billion in capital contribution from its parent company in january 2009. the impact of this contribution is not reflected in the table above. the substantial events in 2008 impacting the capital of citigroup, and the potential future events discussed on page 94 under 201ccitigroup regulatory capital ratios, 201d also affected, or could affect, citibank, n.a.. what was the tier 2 capital in 2008? 37.4 and what was it in 2007? 39.6 how much, then, did the 2008 amount represent in relation to this 2007 one? 0.94444 and in that last year of the period, what was the total capital?

108.4

notes to consolidated financial statements 2014 (continued) (amounts in millions, except per share amounts) a summary of the remaining liability for the 2007, 2003 and 2001 restructuring programs is as follows: program program program total. - | 2007 program | 2003 program | 2001 program | total liability at december 31 2006 | $2014 | $12.6 | $19.2 | $31.8 net charges (reversals) and adjustments | 19.1 | -0.5 (0.5) | -5.2 (5.2) | 13.4 payments and other1 | -7.2 (7.2) | -3.1 (3.1) | -5.3 (5.3) | -15.6 (15.6) liability at december 31 2007 | $11.9 | $9.0 | $8.7 | $29.6 net charges and adjustments | 4.3 | 0.8 | 0.7 | 5.8 payments and other1 | -15.0 (15.0) | -4.1 (4.1) | -3.5 (3.5) | -22.6 (22.6) liability at december 31 2008 | $1.2 | $5.7 | $5.9 | $12.8 1 includes amounts representing adjustments to the liability for changes in foreign currency exchange rates. other reorganization-related charges other reorganization-related charges relate to our realignment of our media businesses into a newly created management entity called mediabrands and the 2006 merger of draft worldwide and foote, cone and belding worldwide to create draftfcb. charges related to severance and terminations costs and lease termination and other exit costs. we expect charges associated with mediabrands to be completed during the first half of 2009. charges related to the creation of draftfcb in 2006 are complete. the charges were separated from the rest of our operating expenses within the consolidated statements of operations because they did not result from charges that occurred in the normal course of business.. what was the value of liability in 2007? 1.2 what was it in 2003?

5.7

notes to consolidated financial statements 2014 (continued) (amounts in millions, except per share amounts) guarantees we have certain contingent obligations under guarantees of certain of our subsidiaries (201cparent company guarantees 201d) relating principally to credit facilities, guarantees of certain media payables and operating leases. the amount of such parent company guarantees was $255.7 and $327.1 as of december 31, 2008 and 2007, respectively. in the event of non-payment by the applicable subsidiary of the obligations covered by a guarantee, we would be obligated to pay the amounts covered by that guarantee. as of december 31, 2008, there are no material assets pledged as security for such parent company guarantees. contingent acquisition obligations we have structured certain acquisitions with additional contingent purchase price obligations in order to reduce the potential risk associated with negative future performance of the acquired entity. in addition, we have entered into agreements that may require us to purchase additional equity interests in certain consolidated and unconsolidated subsidiaries. the amounts relating to these transactions are based on estimates of the future financial performance of the acquired entity, the timing of the exercise of these rights, changes in foreign currency exchange rates and other factors. we have not recorded a liability for these items since the definitive amounts payable are not determinable or distributable. when the contingent acquisition obligations have been met and consideration is determinable and distributable, we record the fair value of this consideration as an additional cost of the acquired entity. however, certain acquisitions contain deferred payments that are fixed and determinable on the acquisition date. in such cases, we record a liability for the payment and record this consideration as an additional cost of the acquired entity on the acquisition date. if deferred payments and purchases of additional interests after the effective date of purchase are contingent upon the future employment of the former owners then we recognize these payments as compensation expense. compensation expense is determined based on the terms and conditions of the respective acquisition agreements and employment terms of the former owners of the acquired businesses. this future expense will not be allocated to the assets and liabilities acquired and is amortized over the required employment terms of the former owners. the following table details the estimated liability with respect to our contingent acquisition obligations and the estimated amount that would be paid in the event of exercise at the earliest exercise date. we have certain put options that are exercisable at the discretion of the minority owners as of december 31, 2008. as such, these estimated acquisition payments of $5.5 have been included within the total payments expected to be made in 2009 in the table below and, if not made in 2009, will continue to carry forward into 2010 or beyond until they are exercised or expire. all payments are contingent upon achieving projected operating performance targets and satisfying other conditions specified in the related agreements and are subject to revisions as the earn-out periods progress. as of december 31, 2008, our estimated future contingent acquisition obligations payable in cash are as follows:. - | 2009 | 2010 | 2011 | 2012 | 2013 | thereafter | total deferred acquisition payments | $67.5 | $32.1 | $30.1 | $4.5 | $5.7 | $2014 | $139.9 put and call options with affiliates1 | 11.8 | 34.3 | 73.6 | 70.8 | 70.2 | 2.2 | 262.9 total contingent acquisition payments | 79.3 | 66.4 | 103.7 | 75.3 | 75.9 | 2.2 | 402.8 less cash compensation expense included above | 2.6 | 1.3 | 0.7 | 0.7 | 0.3 | 2014 | 5.6 total | $76.7 | $65.1 | $103.0 | $74.6 | $75.6 | $2.2 | $397.2 1 we have entered into certain acquisitions that contain both put and call options with similar terms and conditions. in such instances, we have included the related estimated contingent acquisition obligation in the period when the earliest related option is exercisable. as a result of revisions made during 2008 to eitf topic no. d-98, classification and measurement of redeemable securities (201ceitf d-98 201d). what is the total of estimated future contingent acquisition obligations payable in cash in 2009? 76.7 what is it in 2013? 75.6 what is the net change? 1.1 what is the net change over the 2013 value? 0.01434 what is that times 100?

1.43416

net revenues include $3.8 billion in 2017 and $739 million in 2016 related to the sale of rrps, mainly driven by japan. these net revenue amounts include excise taxes billed to customers. excluding excise taxes, net revenues for rrps were $3.6 billion in 2017 and $733 million in 2016. in some jurisdictions, including japan, we are not responsible for collecting excise taxes. in 2017, approximately $0.9 billion of our $3.6 billion in rrp net revenues, excluding excise taxes, were from iqos devices and accessories. excise taxes on products increased by $1.1 billion, due to: 2022 higher excise taxes resulting from changes in retail prices and tax rates ($4.6 billion), partially offset by 2022 favorable currency ($1.9 billion) and 2022 lower excise taxes resulting from volume/mix ($1.6 billion). our cost of sales; marketing, administration and research costs; and operating income were as follows: for the years ended december 31, variance. (in millions) | for the years ended december 31, 2017 | for the years ended december 31, 2016 | for the years ended december 31, $|% (%) cost of sales | $10432 | $9391 | $1041 | 11.1% (11.1%) marketing administration and research costs | 6725 | 6405 | 320 | 5.0% (5.0%) operating income | 11503 | 10815 | 688 | 6.4% (6.4%) cost of sales increased by $1.0 billion, due to: 2022 higher cost of sales resulting from volume/mix ($1.1 billion), partly offset by 2022 lower manufacturing costs ($36 million) and 2022 favorable currency ($30 million). marketing, administration and research costs increased by $320 million, due to: 2022 higher expenses ($570 million, largely reflecting increased investment behind reduced-risk products, predominately in the european union and asia), partly offset by 2022 favorable currency ($250 million). operating income increased by $688 million, due primarily to: 2022 price increases ($1.4 billion), partly offset by 2022 higher marketing, administration and research costs ($570 million) and 2022 unfavorable currency ($157 million). interest expense, net, of $914 million increased by $23 million, due primarily to unfavorably currency and higher average debt levels, partly offset by higher interest income. our effective tax rate increased by 12.8 percentage points to 40.7% (40.7%). the 2017 effective tax rate was unfavorably impacted by $1.6 billion due to the tax cuts and jobs act. for further details, see item 8, note 11. income taxes to our consolidated financial statements. we are continuing to evaluate the impact that the tax cuts and jobs act will have on our tax liability. based upon our current interpretation of the tax cuts and jobs act, we estimate that our 2018 effective tax rate will be approximately 28% (28%), subject to future regulatory developments and earnings mix by taxing jurisdiction. we are regularly examined by tax authorities around the world, and we are currently under examination in a number of jurisdictions. it is reasonably possible that within the next 12 months certain tax examinations will close, which could result in a change in unrecognized tax benefits along with related interest and penalties. an estimate of any possible change cannot be made at this time. net earnings attributable to pmi of $6.0 billion decreased by $932 million (13.4% (13.4%)). this decrease was due primarily to a higher effective tax rate as discussed above, partly offset by higher operating income. diluted and basic eps of $3.88 decreased by 13.4% (13.4%). excluding. what was the operating income in 2017?

11503.0

the following performance graph shows the cumulative total return to a holder of the company 2019s common stock, assuming dividend reinvestment, compared with the cumulative total return, assuming dividend reinvestment, of the standard & poor ("s&p") 500 index and the dow jones us financials index during the period from december 31, 2009 through december 31, 2014.. - | 12/09 | 12/10 | 12/11 | 12/12 | 12/13 | 12/14 e*trade financial corporation | 100.00 | 90.91 | 45.23 | 50.85 | 111.59 | 137.81 s&p 500 index | 100.00 | 115.06 | 117.49 | 136.30 | 180.44 | 205.14 dow jones us financials index | 100.00 | 112.72 | 98.24 | 124.62 | 167.26 | 191.67 table of contents. what was the value of e*trade financial on 12/14? 137.81 what is that less an initial $100 investment?

37.81

republic services, inc. notes to consolidated financial statements 2014 (continued) 16. financial instruments fuel hedges we have entered into multiple swap agreements designated as cash flow hedges to mitigate some of our exposure related to changes in diesel fuel prices. these swaps qualified for, and were designated as, effective hedges of changes in the prices of forecasted diesel fuel purchases (fuel hedges). the following table summarizes our outstanding fuel hedges as of december 31, 2015: year gallons hedged weighted average contract price per gallon. year | gallons hedged | weighted average contractprice per gallon 2016 | 27000000 | $3.57 2017 | 12000000 | 2.92 if the national u.s. on-highway average price for a gallon of diesel fuel as published by the department of energy exceeds the contract price per gallon, we receive the difference between the average price and the contract price (multiplied by the notional gallons) from the counterparty. if the average price is less than the contract price per gallon, we pay the difference to the counterparty. the fair values of our fuel hedges are determined using standard option valuation models with assumptions about commodity prices based on those observed in underlying markets (level 2 in the fair value hierarchy). the aggregate fair values of our outstanding fuel hedges as of december 31, 2015 and 2014 were current liabilities of $37.8 million and $34.4 million, respectively, and have been recorded in other accrued liabilities in our consolidated balance sheets. the ineffective portions of the changes in fair values resulted in a loss of $0.4 million and $0.5 million for the years ended december 31, 2015 and 2014 respectively, and a gain of less than $0.1 million for the year ended december 31, 2013, and have been recorded in other income, net in our consolidated statements of income. total (loss) gain recognized in other comprehensive (loss) income for fuel hedges (the effective portion) was $(2.0) million, $(24.2) million and $2.4 million, for the years ended december 31, 2015, 2014 and 2013, respectively. recycling commodity hedges revenue from the sale of recycled commodities is primarily from sales of old corrugated cardboard and old newspaper. from time to time we use derivative instruments such as swaps and costless collars designated as cash flow hedges to manage our exposure to changes in prices of these commodities. we had no outstanding recycling commodity hedges as of december 31, 2015 and 2014. no amounts were recognized in other income, net in our consolidated statements of income for the ineffective portion of the changes in fair values during the years ended december 31, 2015, 2014 and 2013. total gain (loss) recognized in other comprehensive income for recycling commodity hedges (the effective portion) was $0.1 million and $(0.1) million for the years ended december 31, 2014 and 2013, respectively. no amount was recognized in other comprehensive income for 2015. fair value measurements in measuring fair values of assets and liabilities, we use valuation techniques that maximize the use of observable inputs (level 1) and minimize the use of unobservable inputs (level 3). we also use market data or assumptions that we believe market participants would use in pricing an asset or liability, including assumptions about risk when appropriate.. what was the ratio of the 2016 hedged gallons to 2017? 2.25 what was the change in the aggregate fair values of outstanding fuel hedge between 2014 and 2015? 3.4 so what was the percentage change during this time?

0.09884

payments (receipts) (in millions). - | payments (receipts) (in millions) entergy arkansas | $2 entergy louisiana | $6 entergy mississippi | ($4) entergy new orleans | ($1) entergy texas | ($3) in september 2016 the ferc accepted the february 2016 compliance filing subject to a further compliance filing made in november 2016. the further compliance filing was required as a result of an order issued in september 2016 ruling on the january 2016 rehearing requests filed by the lpsc, the apsc, and entergy. in the order addressing the rehearing requests, the ferc granted the lpsc 2019s rehearing request and directed that interest be calculated on the payment/receipt amounts. the ferc also granted the apsc 2019s and entergy 2019s rehearing request and ordered the removal of both securitized asset accumulated deferred income taxes and contra-securitization accumulated deferred income taxes from the calculation. in november 2016, entergy submitted its compliance filing in response to the ferc 2019s order on rehearing. the compliance filing included a revised refund calculation of the true-up payments and receipts based on 2009 test year data and interest calculations. the lpsc protested the interest calculations. in november 2017 the ferc issued an order rejecting the november 2016 compliance filing. the ferc determined that the payments detailed in the november 2016 compliance filing did not include adequate interest for the payments from entergy arkansas to entergy louisiana because it did not include interest on the principal portion of the payment that was made in february 2016. in december 2017, entergy recalculated the interest pursuant to the november 2017 order. as a result of the recalculations, entergy arkansas owed very minor payments to entergy louisiana, entergy mississippi, and entergy new orleans. 2011 rate filing based on calendar year 2010 production costs in may 2011, entergy filed with the ferc the 2011 rates in accordance with the ferc 2019s orders in the system agreement proceeding. a0 a0several parties intervened in the proceeding at the ferc, including the lpsc, which also filed a protest. a0 a0in july a02011 the ferc a0accepted entergy 2019s proposed rates for filing, a0effective june a01, a02011, a0subject to refund. after an abeyance of the proceeding schedule, in december 2014 the ferc consolidated the 2011 rate filing with the 2012, 2013, and 2014 rate filings for settlement and hearing procedures. see discussion below regarding the consolidated settlement and hearing procedures in connection with this proceeding. 2012 rate filing based on calendar year 2011 production costs in may 2012, entergy filed with the ferc the 2012 rates in accordance with the ferc 2019s orders in the system agreement proceeding. a0 a0several parties intervened in the proceeding at the ferc, including the lpsc, which also filed a protest. a0 a0in august 2012 the ferc a0accepted entergy 2019s proposed rates for filing, a0effective june a02012, a0subject to refund. after an abeyance of the proceeding schedule, in december 2014 the ferc consolidated the 2012 rate filing with the 2011, 2013, and 2014 rate filings for settlement and hearing procedures. see discussion below regarding the consolidated settlement and hearing procedures in connection with this proceeding. 2013 rate filing based on calendar year 2012 production costs in may 2013, entergy filed with the ferc the 2013 rates in accordance with the ferc 2019s orders in the system agreement proceeding. several parties intervened in the proceeding at the ferc, including the lpsc, which also filed a protest. the city council intervened and filed comments related to including the outcome of a related ferc proceeding in the 2013 cost equalization calculation. in august 2013 the ferc issued an order accepting the 2013 rates, effective june 1, 2013, subject to refund. after an abeyance of the proceeding schedule, in december 2014 the ferc consolidated the 2013 rate filing with the 2011, 2012, and 2014 rate filings for settlement and hearing procedures. entergy corporation and subsidiaries notes to financial statements. what was the total of payments for entergy arkansas, in millions? 6.0 and what was it for entergy louisiana? 2.0 what was, then, the difference between them?

4.0

entergy corporation notes to consolidated financial statements (a) consists of pollution control revenue bonds and environmental revenue bonds, certain series of which are secured by non-interest bearing first mortgage bonds. (b) the bonds are subject to mandatory tender for purchase from the holders at 100% (100%) of the principal amount outstanding on september 1, 2005 and can then be remarketed. (c) the bonds are subject to mandatory tender for purchase from the holders at 100% (100%) of the principal amount outstanding on september 1, 2004 and can then be remarketed. (d) the bonds had a mandatory tender date of october 1, 2003. entergy louisiana purchased the bonds from the holders, pursuant to the mandatory tender provision, and has not remarketed the bonds at this time. entergy louisiana used a combination of cash on hand and short-term borrowing to buy-in the bonds. (e) on june 1, 2002, entergy louisiana remarketed $55 million st. charles parish pollution control revenue refunding bonds due 2030, resetting the interest rate to 4.9% (4.9%) through may 2005. (f) the bonds are subject to mandatory tender for purchase from the holders at 100% (100%) of the principal amount outstanding on june 1, 2005 and can then be remarketed. (g) pursuant to the nuclear waste policy act of 1982, entergy's nuclear owner/licensee subsidiaries have contracts with the doe for spent nuclear fuel disposal service. the contracts include a one-time fee for generation prior to april 7, 1983. entergy arkansas is the only entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term (h) the fair value excludes lease obligations, long-term doe obligations, and other long-term debt and includes debt due within one year. it is determined using bid prices reported by dealer markets and by nationally recognized investment banking firms. the annual long-term debt maturities (excluding lease obligations) for debt outstanding as of december 31, 2003, for the next five years are as follows:. - | (in thousands) 2004 | $503215 2005 | $462420 2006 | $75896 2007 | $624539 2008 | $941625 in november 2000, entergy's non-utility nuclear business purchased the fitzpatrick and indian point 3 power plants in a seller-financed transaction. entergy issued notes to nypa with seven annual installments of approximately $108 million commencing one year from the date of the closing, and eight annual installments of $20 million commencing eight years from the date of the closing. these notes do not have a stated interest rate, but have an implicit interest rate of 4.8% (4.8%). in accordance with the purchase agreement with nypa, the purchase of indian point 2 resulted in entergy's non-utility nuclear business becoming liable to nypa for an additional $10 million per year for 10 years, beginning in september 2003. this liability was recorded upon the purchase of indian point 2 in september 2001, and is included in the note payable to nypa balance above. in july 2003, a payment of $102 million was made prior to maturity on the note payable to nypa. under a provision in a letter of credit supporting these notes, if certain of the domestic utility companies or system energy were to default on other indebtedness, entergy could be required to post collateral to support the letter of credit. covenants in the entergy corporation notes require it to maintain a consolidated debt ratio of 65% (65%) or less of its total capitalization. if entergy's debt ratio exceeds this limit, or if entergy or certain of the domestic utility companies default on other indebtedness or are in bankruptcy or insolvency proceedings, an acceleration of the notes' maturity dates may occur.. as of december 31, 2003, what was the total amount of long-term debt due in the years of 2004 and 2005, in thousands? 965635.0 what is that in millions? 965.635 and including the long-term debt due in 2006, what then becomes that total amount? 1041531.0 how much is this three year amount in millions?

1041.531

stock performance graph this performance graph shall not be deemed 201cfiled 201d for purposes of section 18 of the securities exchange act of 1934, as amended (the 201cexchange act 201d) or otherwise subject to the liabilities under that section and shall not be deemed to be incorporated by reference into any filing of tractor supply company under the securities act of 1933, as amended, or the exchange act. the following graph compares the cumulative total stockholder return on our common stock from december 29, 2012 to december 30, 2017 (the company 2019s fiscal year-end), with the cumulative total returns of the s&p 500 index and the s&p retail index over the same period. the comparison assumes that $100 was invested on december 29, 2012, in our common stock and in each of the foregoing indices and in each case assumes reinvestment of dividends. the historical stock price performance shown on this graph is not indicative of future performance.. - | 12/29/2012 | 12/28/2013 | 12/27/2014 | 12/26/2015 | 12/31/2016 | 12/30/2017 tractor supply company | $100.00 | $174.14 | $181.29 | $201.04 | $179.94 | $180.52 s&p 500 | $100.00 | $134.11 | $155.24 | $156.43 | $173.74 | $211.67 s&p retail index | $100.00 | $147.73 | $164.24 | $207.15 | $219.43 | $286.13 . what was the change in the performance value of the s&p 500 from 2012 to 2017? 111.67 and how much does this change represent in relation to that performance value in 2012, in percentage? 1.1167 what was the change in the performance value of the s&p 500 retail index from 2012 to 2017? 186.13 and how much does this change represent in relation to that performance value in 2012, in percentage? 1.8613 what is, then, the difference between the s&p 500 percentage change and the s&p 500 retail index one?

0.7446

notes to consolidated financial statements note 12. other assets other assets are generally less liquid, non-financial assets. the table below presents other assets by type.. in millions | as of december 2012 | as of december 2011 property leasehold improvements andequipment1 | $8217 | $8697 goodwill and identifiable intangibleassets2 | 5099 | 5468 income tax-related assets3 | 5620 | 5017 equity-method investments4 | 453 | 664 miscellaneous receivables and other5 | 20234 | 3306 total | $39623 | $23152 1. net of accumulated depreciation and amortization of $9.05 billion and $8.46 billion as of december 2012 and december 2011, respectively. 2. includes $149 million of intangible assets classified as held for sale. see note 13 for further information about goodwill and identifiable intangible assets. 3. see note 24 for further information about income taxes. 4. excludes investments accounted for at fair value under the fair value option where the firm would otherwise apply the equity method of accounting of $5.54 billion and $4.17 billion as of december 2012 and december 2011, respectively, which are included in 201cfinancial instruments owned, at fair value. 201d the firm has generally elected the fair value option for such investments acquired after the fair value option became available. 5. includes $16.77 billion of assets related to the firm 2019s reinsurance business which were classified as held for sale as of december 2012. assets held for sale in the fourth quarter of 2012, the firm classified its reinsurance business within its institutional client services segment as held for sale. assets related to this business of $16.92 billion, consisting primarily of available-for-sale securities and separate account assets at fair value, are included in 201cother assets. 201d liabilities related to the business of $14.62 billion are included in 201cother liabilities and accrued expenses. 201d see note 8 for further information about insurance-related assets and liabilities held for sale at fair value. the firm expects to complete the sale of a majority stake in its reinsurance business in 2013 and does not expect to recognize a material gain or loss upon the sale. upon completion of the sale, the firm will no longer consolidate this business. property, leasehold improvements and equipment property, leasehold improvements and equipment included $6.20 billion and $6.48 billion as of december 2012 and december 2011, respectively, related to property, leasehold improvements and equipment that the firm uses in connection with its operations. the remainder is held by investment entities, including vies, consolidated by the firm. substantially all property and equipment are depreciated on a straight-line basis over the useful life of the asset. leasehold improvements are amortized on a straight-line basis over the useful life of the improvement or the term of the lease, whichever is shorter. certain costs of software developed or obtained for internal use are capitalized and amortized on a straight-line basis over the useful life of the software. property, leasehold improvements and equipment are tested for impairment whenever events or changes in circumstances suggest that an asset 2019s or asset group 2019s carrying value may not be fully recoverable. the firm 2019s policy for impairment testing of property, leasehold improvements and equipment is the same as is used for identifiable intangible assets with finite lives. see note 13 for further information. goldman sachs 2012 annual report 163. what percentage of total other assets was made of goodwill and identifiable intangible assets in 2012?

0.12869

entergy arkansas, inc. and subsidiaries management 2019s financial discussion and analysis results of operations net income 2017 compared to 2016 net income decreased $27.4 million primarily due to higher nuclear refueling outage expenses, higher depreciation and amortization expenses, higher taxes other than income taxes, and higher interest expense, partially offset by higher other income. 2016 compared to 2015 net income increased $92.9 million primarily due to higher net revenue and lower other operation and maintenance expenses, partially offset by a higher effective income tax rate and higher depreciation and amortization expenses. net revenue 2017 compared to 2016 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). a0 a0following is an analysis of the change in net revenue comparing 2017 to 2016. amount (in millions). - | amount (in millions) 2016 net revenue | $1520.5 retail electric price | 33.8 opportunity sales | 5.6 asset retirement obligation | -14.8 (14.8) volume/weather | -29.0 (29.0) other | 6.5 2017 net revenue | $1522.6 the retail electric price variance is primarily due to the implementation of formula rate plan rates effective with the first billing cycle of january 2017 and an increase in base rates effective february 24, 2016, each as approved by the apsc. a significant portion of the base rate increase was related to the purchase of power block 2 of the union power station in march 2016. the increase was partially offset by decreases in the energy efficiency rider, as approved by the apsc, effective april 2016 and january 2017. see note 2 to the financial statements for further discussion of the rate case and formula rate plan filings. see note 14 to the financial statements for further discussion of the union power station purchase. the opportunity sales variance results from the estimated net revenue effect of the 2017 and 2016 ferc orders in the opportunity sales proceeding attributable to wholesale customers. see note 2 to the financial statements for further discussion of the opportunity sales proceeding.. what is the sum of net revenues from 2016 and 2017? 3043.1 what is that divided by 2?

1521.55

notes to consolidated financial statements note 12. other assets other assets are generally less liquid, non-financial assets. the table below presents other assets by type.. in millions | as of december 2012 | as of december 2011 property leasehold improvements andequipment1 | $8217 | $8697 goodwill and identifiable intangibleassets2 | 5099 | 5468 income tax-related assets3 | 5620 | 5017 equity-method investments4 | 453 | 664 miscellaneous receivables and other5 | 20234 | 3306 total | $39623 | $23152 1. net of accumulated depreciation and amortization of $9.05 billion and $8.46 billion as of december 2012 and december 2011, respectively. 2. includes $149 million of intangible assets classified as held for sale. see note 13 for further information about goodwill and identifiable intangible assets. 3. see note 24 for further information about income taxes. 4. excludes investments accounted for at fair value under the fair value option where the firm would otherwise apply the equity method of accounting of $5.54 billion and $4.17 billion as of december 2012 and december 2011, respectively, which are included in 201cfinancial instruments owned, at fair value. 201d the firm has generally elected the fair value option for such investments acquired after the fair value option became available. 5. includes $16.77 billion of assets related to the firm 2019s reinsurance business which were classified as held for sale as of december 2012. assets held for sale in the fourth quarter of 2012, the firm classified its reinsurance business within its institutional client services segment as held for sale. assets related to this business of $16.92 billion, consisting primarily of available-for-sale securities and separate account assets at fair value, are included in 201cother assets. 201d liabilities related to the business of $14.62 billion are included in 201cother liabilities and accrued expenses. 201d see note 8 for further information about insurance-related assets and liabilities held for sale at fair value. the firm expects to complete the sale of a majority stake in its reinsurance business in 2013 and does not expect to recognize a material gain or loss upon the sale. upon completion of the sale, the firm will no longer consolidate this business. property, leasehold improvements and equipment property, leasehold improvements and equipment included $6.20 billion and $6.48 billion as of december 2012 and december 2011, respectively, related to property, leasehold improvements and equipment that the firm uses in connection with its operations. the remainder is held by investment entities, including vies, consolidated by the firm. substantially all property and equipment are depreciated on a straight-line basis over the useful life of the asset. leasehold improvements are amortized on a straight-line basis over the useful life of the improvement or the term of the lease, whichever is shorter. certain costs of software developed or obtained for internal use are capitalized and amortized on a straight-line basis over the useful life of the software. property, leasehold improvements and equipment are tested for impairment whenever events or changes in circumstances suggest that an asset 2019s or asset group 2019s carrying value may not be fully recoverable. the firm 2019s policy for impairment testing of property, leasehold improvements and equipment is the same as is used for identifiable intangible assets with finite lives. see note 13 for further information. goldman sachs 2012 annual report 163. what is the value of miscellaneous receivables and other assets in 2012 divided by 100? 20.234 what is that less the value of assets related to the firm 2019s reinsurance business which were classified as held for sale as of december 2012?

3.464

table of contents adobe inc. notes to consolidated financial statements (continued) certain states and foreign jurisdictions to fully utilize available tax credits and other attributes. the deferred tax assets are offset by a valuation allowance to the extent it is more likely than not that they are not expected to be realized. we provide u.s. income taxes on the earnings of foreign subsidiaries unless the subsidiaries 2019 earnings are considered permanently reinvested outside the united states or are exempted from taxation as a result of the new territorial tax system. to the extent that the foreign earnings previously treated as permanently reinvested are repatriated, the related u.s. tax liability may be reduced by any foreign income taxes paid on these earnings. as of november 30, 2018, the cumulative amount of earnings upon which u.s. income taxes have not been provided is approximately $275 million. the unrecognized deferred tax liability for these earnings is approximately $57.8 million. as of november 30, 2018, we have net operating loss carryforwards of approximately $881.1 million for federal and $349.7 million for state. we also have federal, state and foreign tax credit carryforwards of approximately $8.8 million, $189.9 million and $14.9 million, respectively. the net operating loss carryforward assets and tax credits will expire in various years from fiscal 2019 through 2036. the state tax credit carryforwards and a portion of the federal net operating loss carryforwards can be carried forward indefinitely. the net operating loss carryforward assets and certain credits are reduced by the valuation allowance and are subject to an annual limitation under internal revenue code section 382, the carrying amount of which are expected to be fully realized. as of november 30, 2018, a valuation allowance of $174.5 million has been established for certain deferred tax assets related to certain state and foreign assets. for fiscal 2018, the total change in the valuation allowance was $80.9 million. accounting for uncertainty in income taxes during fiscal 2018 and 2017, our aggregate changes in our total gross amount of unrecognized tax benefits are summarized as follows (in thousands):. - | 2018 | 2017 beginning balance | $172945 | $178413 gross increases in unrecognized tax benefits 2013 prior year tax positions | 16191 | 3680 gross decreases in unrecognized tax benefits 2013 prior year tax positions | -4000 (4000) | -30166 (30166) gross increases in unrecognized tax benefits 2013 current year tax positions | 60721 | 24927 settlements with taxing authorities | 2014 | -3876 (3876) lapse of statute of limitations | -45922 (45922) | -8819 (8819) foreign exchange gains and losses | -3783 (3783) | 8786 ending balance | $196152 | $172945 the combined amount of accrued interest and penalties related to tax positions taken on our tax returns were approximately $24.6 million and $23.6 million for fiscal 2018 and 2017, respectively. these amounts were included in long-term income taxes payable in their respective years. we file income tax returns in the united states 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 ireland, california and the united states. for ireland, california and the united states, the earliest fiscal years open for examination are 2008, 2014 and 2015, 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 these examinations. 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. 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 of short-term and long- term assets, liabilities and income taxes payable. we believe that within the next 12 months, 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 effect in underlying unrecognized tax benefits ranging from $0 to approximately $45 million.. what was the beginning balance in the gross amount of unrecognized tax benefits in 2018? 172945.0 what is the beginning balance in 2017? 178413.0 what is the net change from 2017 to 2018? -5468.0 what was the 2017 value? 178413.0 what is the net change over the 2017 value?

-0.03065

in our primary disbursement accounts which were reclassified as accounts payable and other accrued liabilities on our consolidated balance sheet. concentration of credit risk financial instruments that potentially subject us to concentrations of credit risk consist of cash and cash equivalents, trade accounts receivable and derivative instruments. we place our cash and cash equivalents with high quality financial institutions. such balances may be in excess of fdic insured limits. in order to manage the related credit exposure, we continually monitor the credit worthiness of the financial institutions where we have deposits. concentrations of credit risk with respect to trade accounts receivable are limited due to the wide variety of customers and markets in which we provide services, as well as the dispersion of our operations across many geographic areas. we provide services to commercial, industrial, municipal and residential customers in the united states and puerto rico. we perform ongoing credit evaluations of our customers, but do not require collateral to support customer receivables. we establish an allowance for doubtful accounts based on various factors including the credit risk of specific customers, age of receivables outstanding, historical trends, economic conditions and other information. no customer exceeded 5% (5%) of our outstanding accounts receivable balance at december 31, 2009 or 2008. accounts receivable, net of allowance for doubtful accounts accounts receivable represent receivables from customers for collection, transfer, recycling, disposal and other services. our receivables are recorded when billed or when the related revenue is earned, if earlier, and represent claims against third parties that will be settled in cash. the carrying value of our receivables, net of the allowance for doubtful accounts, represents their estimated net realizable value. provisions for doubtful accounts are evaluated on a monthly basis and are recorded based on our historical collection experience, the age of the receivables, specific customer information and economic conditions. we also review outstanding balances on an account-specific basis. in general, reserves are provided for accounts receivable in excess of ninety days old. past due receivable balances are written-off when our collection efforts have been unsuccess- ful in collecting amounts due. the following table reflects the activity in our allowance for doubtful accounts for the years ended december 31, 2009, 2008 and 2007:. - | 2009 | 2008 | 2007 balance at beginning of year | $65.7 | $14.7 | $18.8 additions charged to expense | 27.3 | 36.5 | 3.9 accounts written-off | -37.8 (37.8) | -12.7 (12.7) | -7.8 (7.8) acquisitions | - | 27.2 | -0.2 (0.2) balance at end of year | $55.2 | $65.7 | $14.7 subsequent to our acquisition of allied, we recorded a provision for doubtful accounts of $14.2 million to adjust the allowance acquired from allied to conform to republic 2019s accounting policies. we also recorded $5.4 million to provide for specific bankruptcy exposures in 2008. in 2007, we recorded a $4.3 million reduction in our allowance for doubtful accounts as a result of refining our estimate of the allowance based on our historical collection experience. restricted cash as of december 31, 2009, we had $236.6 million of restricted cash, of which $93.1 million was proceeds from the issuance of tax-exempt bonds and other tax-exempt financings and will be used to fund capital republic services, inc. and subsidiaries notes to consolidated financial statements, continued. during 2009, what was the total of additions charged to expense? 27.3 and what was the total of accounts written-off?

-37.8

entergy texas, inc. and subsidiaries management 2019s financial discussion and analysis plan to spin off the utility 2019s transmission business see the 201cplan to spin off the utility 2019s transmission business 201d section of entergy corporation and subsidiaries management 2019s financial discussion and analysis for a discussion of this matter, including the planned retirement of debt and preferred securities. results of operations net income 2011 compared to 2010 net income increased by $14.6 million primarily due to higher net revenue, partially offset by higher taxes other than income taxes, higher other operation and maintenance expenses, and higher depreciation and amortization expenses. 2010 compared to 2009 net income increased by $2.4 million primarily due to higher net revenue and lower interest expense, partially offset by lower other income, higher taxes other than income taxes, and higher other operation and maintenance expenses. net revenue 2011 compared to 2010 net revenue consists of operating revenues net of: 1) fuel, fuel-related expenses, and gas purchased for resale, 2) purchased power expenses, and 3) other regulatory charges (credits). following is an analysis of the change in net revenue comparing 2011 to 2010. amount (in millions). - | amount (in millions) 2010 net revenue | $540.2 retail electric price | 36.0 volume/weather | 21.3 purchased power capacity | -24.6 (24.6) other | 4.9 2011 net revenue | $577.8 the retail electric price variance is primarily due to rate actions, including an annual base rate increase of $59 million beginning august 2010, with an additional increase of $9 million beginning may 2011, 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 volume/weather variance is primarily due to an increase of 721 gwh, or 4.5% (4.5%), in billed electricity usage, including the effect of more favorable weather on residential and commercial sales compared to last year. usage in the industrial sector increased 8.2% (8.2%) primarily in the chemicals and refining industries. the purchased power capacity variance is primarily due to price increases for ongoing purchased power capacity and additional capacity purchases.. what was the total variance in net revenue from 2010 to 2011? 37.6 and what was the variance in volume/weather in that same period? 21.3 how much, then, does this volume/weather variance represent in relation to the net revenue one, in percentage?

0.56649

as of december 31, 2017, the company had gross state income tax credit carry-forwards of approximately $20 million, which expire from 2018 through 2020. a deferred tax asset of approximately $16 million (net of federal benefit) has been established related to these state income tax credit carry-forwards, with a valuation allowance of $7 million against such deferred tax asset as of december 31, 2017. the company had a gross state net operating loss carry-forward of $39 million, which expires in 2027. a deferred tax asset of approximately $3 million (net of federal benefit) has been established for the net operating loss carry-forward, with a full valuation allowance as of december 31, 2017. other state and foreign net operating loss carry-forwards are separately and cumulatively immaterial to the company 2019s deferred tax balances and expire between 2026 and 2036. 14. debt long-term debt consisted of the following:. ($in millions) | december 31 2017 | december 31 2016 senior notes due december 15 2021 5.000% (5.000%) | 2014 | 600 senior notes due november 15 2025 5.000% (5.000%) | 600 | 600 senior notes due december 1 2027 3.483% (3.483%) | 600 | 2014 mississippi economic development revenue bonds due may 1 2024 7.81% (7.81%) | 84 | 84 gulf opportunity zone industrial development revenue bonds due december 1 2028 4.55% (4.55%) | 21 | 21 less unamortized debt issuance costs | -26 (26) | -27 (27) total long-term debt | 1279 | 1278 credit facility - in november 2017, the company terminated its second amended and restated credit agreement and entered into a new credit agreement (the "credit facility") with third-party lenders. the credit facility includes a revolving credit facility of $1250 million, which may be drawn upon during a period of five years from november 22, 2017. the revolving credit facility includes a letter of credit subfacility of $500 million. the revolving credit facility has a variable interest rate on outstanding borrowings based on the london interbank offered rate ("libor") plus a spread based upon the company's credit rating, which may vary between 1.125% (1.125%) and 1.500% (1.500%). the revolving credit facility also has a commitment fee rate on the unutilized balance based on the company 2019s leverage ratio. the commitment fee rate as of december 31, 2017 was 0.25% (0.25%) and may vary between 0.20% (0.20%) and 0.30% (0.30%). the credit facility contains customary affirmative and negative covenants, as well as a financial covenant based on a maximum total leverage ratio. each of the company's existing and future material wholly owned domestic subsidiaries, except those that are specifically designated as unrestricted subsidiaries, are and will be guarantors under the credit facility. in july 2015, the company used cash on hand to repay all amounts outstanding under a prior credit facility, including $345 million in principal amount of outstanding term loans. as of december 31, 2017, $15 million in letters of credit were issued but undrawn, and the remaining $1235 million of the revolving credit facility was unutilized. the company had unamortized debt issuance costs associated with its credit facilities of $11 million and $8 million as of december 31, 2017 and 2016, respectively. senior notes - in december 2017, the company issued $600 million aggregate principal amount of unregistered 3.483% (3.483%) senior notes with registration rights due december 2027, the net proceeds of which were used to repurchase the company's 5.000% (5.000%) senior notes due in 2021 in connection with the 2017 redemption described below. in november 2015, the company issued $600 million aggregate principal amount of unregistered 5.000% (5.000%) senior notes due november 2025, the net proceeds of which were used to repurchase the company's 7.125% (7.125%) senior notes due in 2021 in connection with the 2015 tender offer and redemption described below. interest on the company's senior notes is payable semi-annually. the terms of the 5.000% (5.000%) and 3.483% (3.483%) senior notes limit the company 2019s ability and the ability of certain of its subsidiaries to create liens, enter into sale and leaseback transactions, sell assets, and effect consolidations or mergers. the company had unamortized debt issuance costs associated with the senior notes of $15 million and $19 million as of december 31, 2017 and 2016, respectively.. in 2017, what was the amount of unamortized debt issuance costs associated with credit facilities? 11.0 and in 2016? 8.0 so what was the change in this value between the years? 3.0 and the value for 2016 again? 8.0 so what was the percentage change during this time?

0.375

note 8 2014 benefit plans the company has defined benefit pension plans covering certain employees in the united states and certain international locations. postretirement healthcare and life insurance benefits provided to qualifying domestic retirees as well as other postretirement benefit plans in international countries are not material. the measurement date used for the company 2019s employee benefit plans is september 30. effective january 1, 2018, the legacy u.s. pension plan was frozen to limit the participation of employees who are hired or re-hired by the company, or who transfer employment to the company, on or after january 1, net pension cost for the years ended september 30 included the following components:. (millions of dollars) | pension plans 2018 | pension plans 2017 | pension plans 2016 service cost | $136 | $110 | $81 interest cost | 90 | 61 | 72 expected return on plan assets | -154 (154) | -112 (112) | -109 (109) amortization of prior service credit | -13 (13) | -14 (14) | -15 (15) amortization of loss | 78 | 92 | 77 settlements | 2 | 2014 | 7 net pension cost | $137 | $138 | $113 net pension cost included in the preceding table that is attributable to international plans | $34 | $43 | $35 net pension cost included in the preceding table that is attributable to international plans $34 $43 $35 the amounts provided above for amortization of prior service credit and amortization of loss represent the reclassifications of prior service credits and net actuarial losses that were recognized in accumulated other comprehensive income (loss) in prior periods. the settlement losses recorded in 2018 and 2016 primarily included lump sum benefit payments associated with the company 2019s u.s. supplemental pension plan. the company recognizes pension settlements when payments from the supplemental plan exceed the sum of service and interest cost components of net periodic pension cost associated with this plan for the fiscal year.. what was the interest cost for 2018? 90.0 and in 2017? 61.0 combined, what was the total cost for the two years? 151.0 and in 2016? 72.0 so what was the total for the three years?

223.0

the following graph compares the cumulative 5-year total return to shareholders of cadence design systems, inc. 2019s common stock relative to the cumulative total returns of the s & p 500 index, the nasdaq composite index and the s & p information technology index. the graph assumes that the value of the investment in the company 2019s common stock and in each of the indexes (including reinvestment of dividends) was $100 on december 29, 2001 and tracks it through december 30, 2006. comparison of 5 year cumulative total return* among cadence design systems, inc., the s & p 500 index, the nasdaq composite index and the s & p information technology index 12/30/0612/31/051/1/051/3/0412/28/0212/29/01 cadence design systems, inc. nasdaq composite s & p information technology s & p 500 * $100 invested on 12/29/01 in stock or on 12/31/01 in index-incuding reinvestment of dividends. indexes calculated on month-end basis. copyright b7 2007, standard & poor 2019s, a division of the mcgraw-hill companies, inc. all rights reserved. www.researchdatagroup.com/s&p.htm december 29, december 28, january 3, january 1, december 31, december 30. - | december 29 2001 | december 28 2002 | january 3 2004 | january 1 2005 | december 31 2005 | december 30 2006 cadence design systems inc. | 100.00 | 54.38 | 81.52 | 61.65 | 75.54 | 79.96 s & p 500 | 100.00 | 77.90 | 100.24 | 111.15 | 116.61 | 135.03 nasdaq composite | 100.00 | 71.97 | 107.18 | 117.07 | 120.50 | 137.02 s & p information technology | 100.00 | 62.59 | 92.14 | 94.50 | 95.44 | 103.47 . what is the value of the s&p 500 in 2005 less an assumed initial $100 investment?

11.15

the fair value of the psu award at the date of grant is amortized to expense over the performance period, which is typically three years after the date of the award, or upon death, disability or reaching the age of 58. as of december 31, 2017, pmi had $34 million of total unrecognized compensation cost related to non-vested psu awards. this cost is recognized over a weighted-average performance cycle period of two years, or upon death, disability or reaching the age of 58. during the years ended december 31, 2017, and 2016, there were no psu awards that vested. pmi did not grant any psu awards during note 10. earnings per share: unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents are participating securities and therefore are included in pmi 2019s earnings per share calculation pursuant to the two-class method. basic and diluted earnings per share (201ceps 201d) were calculated using the following:. (in millions) | for the years ended december 31, 2017 | for the years ended december 31, 2016 | for the years ended december 31, 2015 net earnings attributable to pmi | $6035 | $6967 | $6873 less distributed and undistributed earnings attributable to share-based payment awards | 14 | 19 | 24 net earnings for basic and diluted eps | $6021 | $6948 | $6849 weighted-average shares for basic eps | 1552 | 1551 | 1549 plus contingently issuable performance stock units (psus) | 1 | 2014 | 2014 weighted-average shares for diluted eps | 1553 | 1551 | 1549 for the 2017, 2016 and 2015 computations, there were no antidilutive stock options.. what is the value of net earnings for basic and diluted eps in 2017? 6021.0 what was the value in 2016? 6948.0 what is the net change? -927.0 what was the 2016 value?

6948.0

the goldman sachs group, inc. and subsidiaries notes to consolidated financial statements in the tables above: 2030 the gross fair values exclude the effects of both counterparty netting and collateral netting, and therefore are not representative of the firm 2019s exposure. 2030 counterparty netting is reflected in each level to the extent that receivable and payable balances are netted within the same level and is included in counterparty netting in levels. where the counterparty netting is across levels, the netting is included in cross-level counterparty netting. 2030 derivative assets are shown as positive amounts and derivative liabilities are shown as negative amounts. significant unobservable inputs the table below presents the amount of level 3 assets (liabilities), and ranges, averages and medians of significant unobservable inputs used to value the firm 2019s level 3 derivatives. level 3 assets (liabilities) and range of significant unobservable inputs (average/median) as of december $in millions 2017 2016. $in millions | level 3 assets (liabilities) and range of significant unobservable inputs (average/median) as of december 2017 | level 3 assets (liabilities) and range of significant unobservable inputs (average/median) as of december 2016 interest rates net | $-410 (410) | $-381 (381) correlation | (10)% (%) to 95% (95%) (71%/79% (71%/79%)) | (10)% (%) to 86% (86%) (56%/60% (56%/60%)) volatility (bps) | 31 to 150 (84/78) | 31 to 151 (84/57) credit net | $1505 | $2504 correlation | 28% (28%) to 84% (84%) (61%/60% (61%/60%)) | 35% (35%) to 91% (91%) (65%/68% (65%/68%)) credit spreads (bps) | 1 to 633 (69/42) | 1 to 993 (122/73) upfront credit points | 0 to 97 (42/38) | 0 to 100 (43/35) recovery rates | 22% (22%) to 73% (73%) (68%/73% (68%/73%)) | 1% (1%) to 97% (97%) (58%/70% (58%/70%)) currencies net | $-181 (181) | $3 correlation | 49% (49%) to 72% (72%) (61%/62% (61%/62%)) | 25% (25%) to 70% (70%) (50%/55% (50%/55%)) commodities net | $47 | $73 volatility | 9% (9%) to 79% (79%) (24%/24% (24%/24%)) | 13% (13%) to 68% (68%) (33%/33% (33%/33%)) natural gas spread | $(2.38) to $3.34 ($(0.22) /$(0.12)) | $(1.81) to $4.33 ($(0.14) /$(0.05)) oil spread | $(2.86) to $23.61 ($6.47/$2.35) | $(19.72) to $64.92 ($25.30/$16.43) equities net | $-1249 (1249) | $-3416 (3416) correlation | (36)% (%) to 94% (94%) (50%/52% (50%/52%)) | (39)% (%) to 88% (88%) (41%/41% (41%/41%)) volatility | 4% (4%) to 72% (72%) (24%/22% (24%/22%)) | 5% (5%) to 72% (72%) (24%/23% (24%/23%)) in the table above: 2030 derivative assets are shown as positive amounts and derivative liabilities are shown as negative amounts. 2030 ranges represent the significant unobservable inputs that were used in the valuation of each type of derivative. 2030 averages represent the arithmetic average of the inputs and are not weighted by the relative fair value or notional of the respective financial instruments. an average greater than the median indicates that the majority of inputs are below the average. for example, the difference between the average and the median for credit spreads and oil spread inputs indicates that the majority of the inputs fall in the lower end of the range. 2030 the ranges, averages and medians of these inputs are not representative of the appropriate inputs to use when calculating the fair value of any one derivative. for example, the highest correlation for interest rate derivatives is appropriate for valuing a specific interest rate derivative but may not be appropriate for valuing any other interest rate derivative. accordingly, the ranges of inputs do not represent uncertainty in, or possible ranges of, fair value measurements of the firm 2019s level 3 derivatives. 2030 interest rates, currencies and equities derivatives are valued using option pricing models, credit derivatives are valued using option pricing, correlation and discounted cash flow models, and commodities derivatives are valued using option pricing and discounted cash flow models. 2030 the fair value of any one instrument may be determined using multiple valuation techniques. for example, option pricing models and discounted cash flows models are typically used together to determine fair value. therefore, the level 3 balance encompasses both of these techniques. 2030 correlation within currencies and equities includes cross- product type correlation. 2030 natural gas spread represents the spread per million british thermal units of natural gas. 2030 oil spread represents the spread per barrel of oil and refined products. range of significant unobservable inputs the following is information about the ranges of significant unobservable inputs used to value the firm 2019s level 3 derivative instruments: 2030 correlation. ranges for correlation cover a variety of underliers both within one product type (e.g., equity index and equity single stock names) and across product types (e.g., correlation of an interest rate and a currency), as well as across regions. generally, cross-product type correlation inputs are used to value more complex instruments and are lower than correlation inputs on assets within the same derivative product type. 2030 volatility. ranges for volatility cover numerous underliers across a variety of markets, maturities and strike prices. for example, volatility of equity indices is generally lower than volatility of single stocks. 2030 credit spreads, upfront credit points and recovery rates. the ranges for credit spreads, upfront credit points and recovery rates cover a variety of underliers (index and single names), regions, sectors, maturities and credit qualities (high-yield and investment-grade). the broad range of this population gives rise to the width of the ranges of significant unobservable inputs. 130 goldman sachs 2017 form 10-k. what was the value of credit net in 2017? 1505.0 what was it in 2016?

2504.0

the fair value of the psu award at the date of grant is amortized to expense over the performance period, which is typically three years after the date of the award, or upon death, disability or reaching the age of 58. as of december 31, 2017, pmi had $34 million of total unrecognized compensation cost related to non-vested psu awards. this cost is recognized over a weighted-average performance cycle period of two years, or upon death, disability or reaching the age of 58. during the years ended december 31, 2017, and 2016, there were no psu awards that vested. pmi did not grant any psu awards during note 10. earnings per share: unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents are participating securities and therefore are included in pmi 2019s earnings per share calculation pursuant to the two-class method. basic and diluted earnings per share (201ceps 201d) were calculated using the following:. (in millions) | for the years ended december 31, 2017 | for the years ended december 31, 2016 | for the years ended december 31, 2015 net earnings attributable to pmi | $6035 | $6967 | $6873 less distributed and undistributed earnings attributable to share-based payment awards | 14 | 19 | 24 net earnings for basic and diluted eps | $6021 | $6948 | $6849 weighted-average shares for basic eps | 1552 | 1551 | 1549 plus contingently issuable performance stock units (psus) | 1 | 2014 | 2014 weighted-average shares for diluted eps | 1553 | 1551 | 1549 for the 2017, 2016 and 2015 computations, there were no antidilutive stock options.. what was the total of net earnings attributable to pmi in 2017? 6035.0 what was that in 2016? 6967.0 what was, then, the increase over the year? -932.0 and how much did this increase represent in relation to the 2016 total?

-0.13377

addition, we are exposed to gains and losses resulting from fluctuations in foreign currency exchange rates on transactions generated by our international subsidiaries in currencies other than their local currencies. these gains and losses are primarily driven by inter-company transactions. these exposures are included in other income (expense), net on the consolidated statements of income. since 2007, we have used foreign currency forward contracts to reduce the risk from exchange rate fluctuations on inter-company transactions and projected inventory purchases for our canadian subsidiary. beginning in december 2008, we began using foreign currency forward contracts in order to reduce the risk associated with foreign currency exchange rate fluctuations on inter-company transactions for our european subsidiary. we do not enter into derivative financial instruments for speculative or trading purposes. based on the foreign currency forward contracts outstanding as of december 31, 2009, we receive us dollars in exchange for canadian dollars at a weighted average contractual forward foreign currency exchange rate of 1.04 cad per $1.00 and us dollars in exchange for euros at a weighted average contractual foreign currency exchange rate of 0.70 eur per $1.00. as of december 31, 2009, the notional value of our outstanding foreign currency forward contracts for our canadian subsidiary was $15.4 million with contract maturities of 1 month, and the notional value of our outstanding foreign currency forward contracts for our european subsidiary was $56.0 million with contract maturities of 1 month. the foreign currency forward contracts are not designated as cash flow hedges, and accordingly, changes in their fair value are recorded in other income (expense), net on the consolidated statements of income. the fair value of our foreign currency forward contracts was $0.3 million and $1.2 million as of december 31, 2009 and 2008, respectively. these amounts are included in prepaid expenses and other current assets on the consolidated balance sheet. refer to note 9 for a discussion of the fair value measurements. other income (expense), net included the following amounts related to changes in foreign currency exchange rates and derivative foreign currency forward contracts:. year ended december 31, (in thousands) | year ended december 31, 2009 | year ended december 31, 2008 | 2007 unrealized foreign currency exchange rate gains (losses) | $5222 | $-5459 (5459) | $2567 realized foreign currency exchange rate gains (losses) | -261 (261) | -2166 (2166) | 174 unrealized derivative gains (losses) | -1060 (1060) | 1650 | -243 (243) realized derivative losses | -4412 (4412) | -204 (204) | -469 (469) although we have entered into foreign currency forward contracts to minimize some of the impact of foreign currency exchange rate fluctuations on future cash flows, we cannot be assured that foreign currency exchange rate fluctuations will not have a material adverse impact on our financial condition and results of operations. inflation inflationary factors such as increases in the cost of our product and overhead costs may adversely affect our operating results. although we do not believe that inflation has had a material impact on our financial position or results of operations to date, a high rate of inflation in the future may have an adverse effect on our ability to maintain current levels of gross margin and selling, general and administrative expenses as a percentage of net revenues if the selling prices of our products do not increase with these increased costs.. what is the balance in the air value of our foreign currency forward contracts in 2009?

0.3

masco corporation notes to consolidated financial statements (continued) h. goodwill and other intangible assets (continued) goodwill at december 31, accumulated impairment losses goodwill at december 31, 2010 additions (a) discontinued operations (b) pre-tax impairment charge other (c) goodwill at december 31, cabinets and related products........... $587 $(364) $223 $2014 $2014 $(44) $2 $181. - | gross goodwill at december 31 2010 | accumulated impairment losses | net goodwill at december 31 2010 | additions (a) | discontinued operations (b) | pre-tax impairment charge | other (c) | net goodwill at december 31 2011 cabinets and related products | $587 | $-364 (364) | $223 | $2014 | $2014 | $-44 (44) | $2 | $181 plumbing products | 536 | -340 (340) | 196 | 9 | 2014 | 2014 | -4 (4) | 201 installation and other services | 1819 | -762 (762) | 1057 | 2014 | -13 (13) | 2014 | 2014 | 1044 decorative architectural products | 294 | 2014 | 294 | 2014 | 2014 | -75 (75) | 2014 | 219 other specialty products | 980 | -367 (367) | 613 | 2014 | 2014 | -367 (367) | 2014 | 246 total | $4216 | $-1833 (1833) | $2383 | $9 | $-13 (13) | $-486 (486) | $-2 (2) | $1891 (a) additions include acquisitions. (b) during 2011, the company reclassified the goodwill related to the business units held for sale. subsequent to the reclassification, the company recognized a charge for those business units expected to be divested at a loss; the charge included a write-down of goodwill of $13 million. (c) other principally includes the effect of foreign currency translation and purchase price adjustments related to prior-year acquisitions. in the fourth quarters of 2012 and 2011, the company completed its annual impairment testing of goodwill and other indefinite-lived intangible assets. the impairment test in 2012 indicated there was no impairment of goodwill for any of the company 2019s reporting units. the impairment test in 2011 indicated that goodwill recorded for certain of the company 2019s reporting units was impaired. the company recognized the non-cash, pre-tax impairment charges, in continuing operations, for goodwill of $486 million ($330 million, after tax) for 2011. in 2011, the pre-tax impairment charge in the cabinets and related products segment relates to the european ready-to- assemble cabinet manufacturer and reflects the declining demand for certain products, as well as decreased operating margins. the pre-tax impairment charge in the decorative architectural products segment relates to the builders 2019 hardware business and reflects increasing competitive conditions for that business. the pre-tax impairment charge in the other specialty products segment relates to the north american window and door business and reflects the continuing weak level of new home construction activity in the western u.s., the reduced levels of repair and remodel activity and the expectation that recovery in these segments will be modestly slower than anticipated. the company then assessed the long-lived assets associated with these business units and determined no impairment was necessary at december 31, 2011. other indefinite-lived intangible assets were $132 million and $174 million at december 31, 2012 and 2011, respectively, and principally included registered trademarks. in 2012 and 2011, the impairment test indicated that the registered trademark for a north american business unit in the other specialty products segment and the registered trademark for a north american business unit in the plumbing products segment (2011 only) were impaired due to changes in the long-term outlook for the business units. the company recognized non-cash, pre-tax impairment charges for other indefinite- lived intangible assets of $42 million ($27 million, after tax) and $8 million ($5 million, after tax) in 2012 and 2011, respectively. in 2010, the company recognized non-cash, pre-tax impairment charges for other indefinite-lived intangible assets of $10 million ($6 million after tax) related to the installation and other services segment ($9 million pre-tax) and the plumbing products segment ($1 million pre-tax).. what was the net change in value of total net goodwill from 2010 to 2011? -492.0 what was the 2010 value? 2383.0 what is the net change divide by the 2010 value?

-0.20646

abiomed, inc. and subsidiaries notes to consolidated financial statements 2014 (continued) (7) commitments and contingencies the company applies the disclosure provisions of fin no. 45, guarantor 2019s accounting and disclosure requirements for guarantees, including guarantees of indebtedness of others, and interpretation of fasb statements no. 5, 57 and 107 and rescission of fasb interpretation no. 34 (fin no. 45) to its agreements that contain guarantee or indemnification clauses. these disclosure provisions expand those required by sfas no. 5 accounting for contingencies, by requiring that guarantors disclose certain types of guarantees, even if the likelihood of requiring the guarantor 2019s performance is remote. the following is a description of arrangements in which the company is a guarantor. product warranties 2014the company routinely accrues for estimated future warranty costs on its product sales at the time of sale. the ab5000 and bvs products are subject to rigorous regulation and quality standards. operating results could be adversely effected if the actual cost of product failures exceeds the estimated warranty provision. patent indemnifications 2014in many sales transactions, the company indemnifies customers against possible claims of patent infringement caused by the company 2019s products. the indemnifications contained within sales contracts usually do not include limits on the claims. the company has never incurred any material costs to defend lawsuits or settle patent infringement claims related to sales transactions. under the provisions of fin no. 45, intellectual property indemnifications require disclosure only. as of march 31, 2006, the company had entered into leases for its facilities, including its primary operating facility in danvers, massachusetts, with terms through fiscal 2010. the danvers lease may be extended, at the company 2019s option, for two successive additional periods of five years each with monthly rent charges to be determined based on then current fair rental values. the company 2019s lease for its aachen location expires in august 2008 unless an option to extend for an additional four years is exercised by the company. in december 2005 we closed our office facility in the netherlands, recording a charge of approximately $58000 for the remaining lease term. total rent expense under these leases, included in the accompanying consolidated statements of operations approximated $821000, $824000 and $1262000 for the fiscal years ended march 31, 2004, 2005 and 2006, respectively. future minimum lease payments under all significant non-cancelable operating leases as of march 31, 2006 are approximately as follows (in thousands): fiscal year ending march 31, operating leases. fiscal year ending march 31, | operating leases 2007 | 1703 2008 | 1371 2009 | 1035 2010 | 710 total future minimum lease payments | $4819 from time-to-time, the company is involved in legal and administrative proceedings and claims of various types. while any litigation contains an element of uncertainty, management, in consultation with the company 2019s general counsel, presently believes that the outcome of each such other proceedings or claims which are pending or known to be threatened, or all of them combined, is not expected to have a material adverse effect on the company 2019s financial position, cash flow and results. on may 15, 2006 richard a. nazarian, as selling stockholder representative, filed a demand for arbitration (subsequently amended) with the boston office of the american arbitration association. what were operating leases in 2007? 1703.0 what were they in 2008? 1371.0 what is the net change from 2007 to 2008? 332.0 what was the 2007 value?

1703.0

investment advisory revenues earned on the other investment portfolios that we manage decreased $44 million, or 8.5% (8.5%), to $477.8 million in 2009. average assets in these portfolios were $129.5 billion during 2009, down $12.6 billion or 9% (9%) from 2008. other investment portfolio assets under management increased $46.7 billion during 2009, including $36.5 billion in market gains and income and $10.2 billion of net inflows, primarily from institutional investors. net inflows include $1.3 billion transferred from the stock and blended asset mutual funds during 2009. administrative fees decreased $35 million, or 10% (10%), to $319 million in 2009. this change includes a $4 million decrease in 12b-1 distribution and service fees recognized on lower average assets under management in the advisor and r classes of our sponsored mutual funds and a $31 million reduction in our mutual fund servicing revenue, which is primarily attributable to our cost reduction efforts in the mutual fund and retirement plan servicing functions. changes in administrative fees are generally offset by similar changes in related operating expenses that are incurred to provide services to the funds and their investors. our largest expense, compensation and related costs, decreased $42 million, or 5% (5%), from 2008 to $773 million in 2009. the largest part of this decrease is attributable to a $19 million reduction in our annual bonus program. reductions in the use of outside contractors lowered 2009 costs $14 million with the remainder of the cost savings primarily attributable to the workforce reduction and lower employee benefits and other employment expenses. average headcount in 2009 was down 5.4% (5.4%) from 2008 due to attrition, retirements and our workforce reduction in april 2009. advertising and promotion expenditures were down $31 million, or 30% (30%), versus 2008 due to our decision to reduce spending in response to lower investor activity in the 2009 market environment. depreciation expense and other occupancy and facility costs together increased $4 million, or 2.5% (2.5%) compared to 2008, as we moderated or delayed our capital spending and facility growth plans. other operating expenses decreased $33 million, or 18% (18%) from 2008, including a decline of $4 million in distribution and service expenses recognized on lower average assets under management in our advisor and r classes of mutual fund shares that are sourced from financial intermediaries. our cost control efforts resulted in the remaining expense reductions, including lower professional fees and travel and related costs. our non-operating investment activity resulted in net losses of $12.7 million in 2009 and $52.3 million in 2008. the improvement of nearly $40 million is primarily attributable to a reduction in the other than temporary impairments recognized on our investments in sponsored mutual funds in 2009 versus 2008. the following table details our related mutual fund investment gains and losses (in millions) during the two years ended december 31, 2009.. - | 2008 | 2009 | change other than temporary impairments recognized | $-91.3 (91.3) | $-36.1 (36.1) | $55.2 capital gain distributions received | 5.6 | 2.0 | -3.6 (3.6) net gain (loss) realized on fund dispositions | -4.5 (4.5) | 7.4 | 11.9 net loss recognized on fund holdings | $-90.2 (90.2) | $-26.7 (26.7) | $63.5 lower income of $16 million from our money market holdings due to the significantly lower interest rate environment offset the improvement experienced with our fund investments. the 2009 provision for income taxes as a percentage of pretax income is 37.1% (37.1%), down from 38.4% (38.4%) in 2008. our 2009 provision includes reductions of prior years 2019 tax provisions and discrete nonrecurring benefits that lowered our 2009 effective tax rate by 1.0% (1.0%). c a p i t a l r e s o u r c e s a n d l i q u i d i t y. during 2010, stockholders 2019 equity increased from $2.9 billion to $3.3 billion. we repurchased nearly 5.0 million common shares for $240.0 million in 2010. tangible book value is $2.6 billion at december 31, 2010, and our cash and cash equivalents and our mutual fund investment holdings total more than $1.5 billion. given the availability of these financial resources, we do not maintain an available external source of liquidity. t. rowe price group annual report 2010. what was the change in capital gain distributions from 2008 to 2009? -2.7 and what were those capital gain distributions in 2008?

5.6

the estimated acquisition-date fair values of major classes of assets acquired and liabilities assumed, including a reconciliation to the total purchase consideration, are as follows (in thousands):. cash | $45826 customer-related intangible assets | 42721 acquired technology | 27954 trade name | 2901 other assets | 2337 deferred income tax assets (liabilities) | -9788 (9788) other liabilities | -49797 (49797) total identifiable net assets | 62154 goodwill | 203828 total purchase consideration | $265982 goodwill of $203.8 million arising from the acquisition, included in the asia-pacific segment, was attributable to expected growth opportunities in australia and new zealand, as well as growth opportunities and operating synergies in integrated payments in our existing asia-pacific and north america markets. goodwill associated with this acquisition is not deductible for income tax purposes. the customer-related intangible assets have an estimated amortization period of 15 years. the acquired technology has an estimated amortization period of 15 years. the trade name has an estimated amortization period of 5 years. note 3 2014 settlement processing assets and obligations funds settlement refers to the process of transferring funds for sales and credits between card issuers and merchants. for transactions processed on our systems, we use our internal network to provide funding instructions to financial institutions that in turn fund the merchants. we process funds settlement under two models, a sponsorship model and a direct membership model. under the sponsorship model, we are designated as a merchant service provider by mastercard and an independent sales organization by visa, which means that member clearing banks (201cmember 201d) sponsor us and require our adherence to the standards of the payment networks. in certain markets, we have sponsorship or depository and clearing agreements with financial institution sponsors. these agreements allow us to route transactions under the members 2019 control and identification numbers to clear credit card transactions through mastercard and visa. in this model, the standards of the payment networks restrict us from performing funds settlement or accessing merchant settlement funds, and, instead, require that these funds be in the possession of the member until the merchant is funded. under the direct membership model, we are members in various payment networks, allowing us to process and fund transactions without third-party sponsorship. in this model, we route and clear transactions directly through the card brand 2019s network and are not restricted from performing funds settlement. otherwise, we process these transactions similarly to how we process transactions in the sponsorship model. we are required to adhere to the standards of the payment networks in which we are direct members. we maintain relationships with financial institutions, which may also serve as our member sponsors for other card brands or in other markets, to assist with funds settlement. timing differences, interchange fees, merchant reserves and exception items cause differences between the amount received from the payment networks and the amount funded to the merchants. these intermediary balances arising in our settlement process for direct merchants are reflected as settlement processing assets and obligations on our consolidated balance sheets. settlement processing assets and obligations include the components outlined below: 2022 interchange reimbursement. our receivable from merchants for the portion of the discount fee related to reimbursement of the interchange fee. global payments inc. | 2017 form 10-k annual report 2013 77. what portion of the total identifiable net assets in cash? 0.7373 what portion of the total purchase consideration is allocated to goodwill?

0.76632

inventory on hand, as well as our future purchase commitments with our suppliers, considering multiple factors, including demand forecasts, product life cycle, current sales levels, pricing strategy and cost trends. if our review indicates that inventories of raw materials, components or finished products have become obsolete or are in excess of anticipated demand or that inventory cost exceeds net realizable value, we may be required to make adjustments that will impact the results of operations. goodwill and non-amortizable intangible assets valuation - we test goodwill and non-amortizable intangible assets for impairment annually or more frequently if events occur that would warrant such review. while the company has the option to perform a qualitative assessment for both goodwill and non-amortizable intangible assets to determine if it is more likely than not that an impairment exists, the company elects to perform the quantitative assessment for our annual impairment analysis. the impairment analysis involves comparing the fair value of each reporting unit or non-amortizable intangible asset to the carrying value. if the carrying value exceeds the fair value, goodwill or a non-amortizable intangible asset is considered impaired. to determine the fair value of goodwill, we primarily use a discounted cash flow model, supported by the market approach using earnings multiples of comparable global and local companies within the tobacco industry. at december 31, 2018, the carrying value of our goodwill was $7.2 billion, which is related to ten reporting units, each of which consists of a group of markets with similar economic characteristics. the estimated fair value of each of our ten reporting units exceeded the carrying value as of december 31, 2018. to determine the fair value of non-amortizable intangible assets, we primarily use a discounted cash flow model applying the relief-from-royalty method. we concluded that the fair value of our non- amortizable intangible assets exceeded the carrying value. these discounted cash flow models include management assumptions relevant for forecasting operating cash flows, which are subject to changes in business conditions, such as volumes and prices, costs to produce, discount rates and estimated capital needs. management considers historical experience and all available information at the time the fair values are estimated, and we believe these assumptions are consistent with the assumptions a hypothetical marketplace participant would use. since the march 28, 2008, spin-off from altria group, inc., we have not recorded a charge to earnings for an impairment of goodwill or non-amortizable intangible assets. marketing costs - we incur certain costs to support our products through programs that include advertising, marketing, consumer engagement and trade promotions. the costs of our advertising and marketing programs are expensed in accordance with u.s. gaap. recognition of the cost related to our consumer engagement and trade promotion programs contain uncertainties due to the judgment required in estimating the potential performance and compliance for each program. for volume-based incentives provided to customers, management continually assesses and estimates, by customer, the likelihood of the customer's achieving the specified targets, and records the reduction of revenue as the sales are made. for other trade promotions, management relies on estimated utilization rates that have been developed from historical experience. changes in the assumptions used in estimating the cost of any individual marketing program would not result in a material change in our financial position, results of operations or operating cash flows. employee benefit plans - as discussed in item 8, note 13. benefit plans to our consolidated financial statements, we provide a range of benefits to our employees and retired employees, including pensions, postretirement health care and postemployment benefits (primarily severance). we record annual amounts relating to these plans based on calculations specified by u.s. gaap. these calculations include various actuarial assumptions, such as discount rates, assumed rates of return on plan assets, compensation increases, mortality, turnover rates and health care cost trend rates. we review actuarial assumptions on an annual basis and make modifications to the assumptions based on current rates and trends when it is deemed appropriate to do so. as permitted by u.s. gaap, any effect of the modifications is generally amortized over future periods. we believe that the assumptions utilized in calculating our obligations under these plans are reasonable based upon our historical experience and advice from our actuaries. weighted-average discount rate assumptions for pension and postretirement plan obligations at december 31, 2018 and 2017 are as follows:. - | 2018 | 2017 pension plans | 1.61% (1.61%) | 1.51% (1.51%) postretirement plans | 3.97% (3.97%) | 3.79% (3.79%) we anticipate that assumption changes will increase 2019 pre-tax pension and postretirement expense to approximately $205 million as compared with approximately $160 million in 2018, excluding amounts related to employee severance and early retirement programs. the anticipated increase is primarily due to higher amortization out of other comprehensive earnings for unrecognized actuarial gains/ losses of $14 million, coupled with lower return on assets of $16 million, higher interest and service cost of $12 million and $4 million respectively, partially offset by other movements of $1 million. weighted-average expected rate of return and discount rate assumptions have a significant effect on the amount of expense reported for the employee benefit plans. a fifty-basis-point decrease in our discount rate would increase our 2019 pension and postretirement expense by approximately $50 million, and a fifty-basis-point increase in our discount rate would decrease our 2019 pension and postretirement. what is the pre-tax pension and postretirement expense in 2019?

205.0

directors in advance for their review. in the event the cbot directors determine in their sole discretion that a proposed rule change will materially impair the business of cbot or the business opportunities of the holders of the cbot memberships, such change must be submitted to a committee comprised of three cbot directors and two cme directors (as defined in our bylaws). in connection with these rights, our ability to take certain actions that we may deem to be in the best interests of the company and its shareholders, including actions relating to the operation of our open outcry trading facilities and certain pricing decisions, may be limited by the rights of our members. item 1b.unresolved staff comments not applicable. item 2. properties our global headquarters are located in chicago, illinois at 20 south wacker drive. the following is a description of our key locations and facilities. location primary use owned/leased lease expiration approximate size (in square feet) (1) 20 south wacker drive, chicago, illinois global headquarters and office space leased 2022 (2) 490000 141 west jackson chicago, illinois chicago trading floor and office space owned n/a 1500000 (3) 550 west washington chicago, illinois office space leased 2023 225000 one north end new york, new york new york trading floor and office space mixed (4) 2069 500000 (5) 33 cannon street, london office space leased 2019 14000 (6) one new change, london office space leased 2026 40000 (7) annex data center chicagoland area business continuity leased 2014 100000 remote data center chicagoland area business continuity leased 2017 50000 data center 3 chicagoland area business continuity and co-location owned n/a 430000 (1) size represents the amount of space leased by us unless otherwise noted. (2) the initial lease expires in 2022 with two consecutive options to extend the term for seven and ten years, respectively. (3) we occupy approximately 425000 square feet of the 141 west jackson complex. (4) the one north end property is subject to a ground lease with the battery park city authority for the site of our new york offices and trading facility. in accordance with the terms of the lease, we are deemed to lease the building and its improvements from the landlord. we do not make lease payments to the landlord related to the building and we receive the financial benefit of the rental income. (5) we occupy approximately 350000 square feet of the one north end building. (6) we have a termination right effective in the first quarter of 2012, which we intend to exercise in the first quarter of 2011. (7) we expect to occupy the space at one new change in the second quarter of 2011. we also lease global office space around the world and have also partnered with major global telecommunications carriers in connection with our telecommunications hubs whereby we place data cabinets within the carriers 2019 existing secured data centers. we believe our facilities are adequate for our current operations and that additional space can be obtained if needed. item 3. legal proceedings see 201clegal matters 201d in note 18. contingencies to the consolidated financial statements beginning on page 96 for cme group 2019s litigation disclosure which is incorporated herein by reference.. location | primary use | owned/leased | lease expiration | approximate size (in squarefeet) (1) 20south wacker drive chicagoillinois | global headquarters and office space | leased | 2022 (2) | 490000 141west jacksonchicago illinois | chicago trading floor and office space | owned | n/a | 1500000 (3) 550west washingtonchicago illinois | office space | leased | 2023 | 225000 onenorth endnew york new york | new york trading floor and office space | mixed (4) | 2069 | 500000 (5) 33cannon street london | office space | leased | 2019 | 14000 (6) onenew change london | office space | leased | 2026 | 40000 (7) annexdata centerchicagoland area | business continuity | leased | 2014 | 100000 remotedata centerchicagoland area | business continuity | leased | 2017 | 50000 datacenter 3chicagoland area | business continuity and co-location | owned | n/a | 430000 directors in advance for their review. in the event the cbot directors determine in their sole discretion that a proposed rule change will materially impair the business of cbot or the business opportunities of the holders of the cbot memberships, such change must be submitted to a committee comprised of three cbot directors and two cme directors (as defined in our bylaws). in connection with these rights, our ability to take certain actions that we may deem to be in the best interests of the company and its shareholders, including actions relating to the operation of our open outcry trading facilities and certain pricing decisions, may be limited by the rights of our members. item 1b.unresolved staff comments not applicable. item 2. properties our global headquarters are located in chicago, illinois at 20 south wacker drive. the following is a description of our key locations and facilities. location primary use owned/leased lease expiration approximate size (in square feet) (1) 20 south wacker drive, chicago, illinois global headquarters and office space leased 2022 (2) 490000 141 west jackson chicago, illinois chicago trading floor and office space owned n/a 1500000 (3) 550 west washington chicago, illinois office space leased 2023 225000 one north end new york, new york new york trading floor and office space mixed (4) 2069 500000 (5) 33 cannon street, london office space leased 2019 14000 (6) one new change, london office space leased 2026 40000 (7) annex data center chicagoland area business continuity leased 2014 100000 remote data center chicagoland area business continuity leased 2017 50000 data center 3 chicagoland area business continuity and co-location owned n/a 430000 (1) size represents the amount of space leased by us unless otherwise noted. (2) the initial lease expires in 2022 with two consecutive options to extend the term for seven and ten years, respectively. (3) we occupy approximately 425000 square feet of the 141 west jackson complex. (4) the one north end property is subject to a ground lease with the battery park city authority for the site of our new york offices and trading facility. in accordance with the terms of the lease, we are deemed to lease the building and its improvements from the landlord. we do not make lease payments to the landlord related to the building and we receive the financial benefit of the rental income. (5) we occupy approximately 350000 square feet of the one north end building. (6) we have a termination right effective in the first quarter of 2012, which we intend to exercise in the first quarter of 2011. (7) we expect to occupy the space at one new change in the second quarter of 2011. we also lease global office space around the world and have also partnered with major global telecommunications carriers in connection with our telecommunications hubs whereby we place data cabinets within the carriers 2019 existing secured data centers. we believe our facilities are adequate for our current operations and that additional space can be obtained if needed. item 3. legal proceedings see 201clegal matters 201d in note 18. contingencies to the consolidated financial statements beginning on page 96 for cme group 2019s litigation disclosure which is incorporated herein by reference.. what year does the initial lease expire for the chicago headquarters?

2022.0

53management's discussion and analysis of financial condition and results of operations in order to borrow funds under the 5-year credit facility, the company must be in compliance with various conditions, covenants and representations contained in the agreements. the company was in compliance with the terms of the 5-year credit facility at december 31, 2006. the company has never borrowed under its domestic revolving credit facilities. utilization of the non-u.s. credit facilities may also be dependent on the company's ability to meet certain conditions at the time a borrowing is requested. contractual obligations, guarantees, and other purchase commitments contractual obligations summarized in the table below are the company's obligations and commitments to make future payments under debt obligations (assuming earliest possible exercise of put rights by holders), lease payment obligations, and purchase obligations as of december 31, 2006. payments due by period (1) (in millions) total 2007 2008 2009 2010 2011 thereafter. (in millions) | payments due by period (1) total | payments due by period (1) 2007 | payments due by period (1) 2008 | payments due by period (1) 2009 | payments due by period (1) 2010 | payments due by period (1) 2011 | payments due by period (1) thereafter long-term debt obligations | $4134 | $1340 | $198 | $4 | $534 | $607 | $1451 lease obligations | 2328 | 351 | 281 | 209 | 178 | 158 | 1151 purchase obligations | 1035 | 326 | 120 | 26 | 12 | 12 | 539 total contractual obligations | $7497 | $2017 | $599 | $239 | $724 | $777 | $3141 (1) amounts included represent firm, non-cancelable commitments. debt obligations: at december 31, 2006, the company's long-term debt obligations, including current maturities and unamortized discount and issue costs, totaled $4.1 billion, as compared to $4.0 billion at december 31, 2005. a table of all outstanding long-term debt securities can be found in note 4, ""debt and credit facilities'' to the company's consolidated financial statements. lease obligations: the company owns most of its major facilities, but does lease certain office, factory and warehouse space, land, and information technology and other equipment under principally non-cancelable operating leases. at december 31, 2006, future minimum lease obligations, net of minimum sublease rentals, totaled $2.3 billion. rental expense, net of sublease income, was $241 million in 2006, $250 million in 2005 and $205 million in 2004. purchase obligations: the company has entered into agreements for the purchase of inventory, license of software, promotional agreements, and research and development agreements which are firm commitments and are not cancelable. the longest of these agreements extends through 2015. total payments expected to be made under these agreements total $1.0 billion. commitments under other long-term agreements: the company has entered into certain long-term agreements to purchase software, components, supplies and materials from suppliers. most of the agreements extend for periods of one to three years (three to five years for software). however, generally these agreements do not obligate the company to make any purchases, and many permit the company to terminate the agreement with advance notice (usually ranging from 60 to 180 days). if the company were to terminate these agreements, it generally would be liable for certain termination charges, typically based on work performed and supplier on-hand inventory and raw materials attributable to canceled orders. the company's liability would only arise in the event it terminates the agreements for reasons other than ""cause.'' the company also enters into a number of arrangements for the sourcing of supplies and materials with minimum purchase commitments and take-or-pay obligations. the majority of the minimum purchase obligations under these contracts are over the life of the contract as opposed to a year-by-year take-or-pay. if these agreements were terminated at december 31, 2006, the company's obligation would not have been significant. the company does not anticipate the cancellation of any of these agreements in the future. subsequent to the end of 2006, the company entered into take-or-pay arrangements with suppliers through may 2009 with minimum purchase obligations of $2.2 billion during that period. the company estimates purchases during that period that exceed the minimum obligations. the company outsources certain corporate functions, such as benefit administration and information technology-related services. these contracts are expected to expire in 2013. the total remaining payments under these contracts are approximately $1.3 billion over the remaining seven years; however, these contracts can be%%transmsg*** transmitting job: c11830 pcn: 055000000 ***%%pcmsg| |00030|yes|no|02/28/2007 13:05|0|1|page is valid, no graphics -- color: n|. what was the long-term debt in 2011? 1340.0 and what was it in 2007?

607.0

comparison of cumulative return among lkq corporation, the nasdaq stock market (u.s.) index and the peer group. - | 12/31/2011 | 12/31/2012 | 12/31/2013 | 12/31/2014 | 12/31/2015 | 12/31/2016 lkq corporation | $100 | $140 | $219 | $187 | $197 | $204 s&p 500 index | $100 | $113 | $147 | $164 | $163 | $178 peer group | $100 | $111 | $140 | $177 | $188 | $217 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, 2016 included in part iii, item 12 of this annual report on form 10-k is incorporated herein by reference.. what was the price of lkq corporation in 2016? 204.0 what was the price in 2011? 100.0 what is the net difference? 104.0 what was the 2011 price?

100.0

performance graph comparison of five-year cumulative total return the following graph and table compare the cumulative total return on citi 2019s common stock, which is listed on the nyse under the ticker symbol 201cc 201d and held by 65691 common stockholders of record as of january 31, 2018, with the cumulative total return of the s&p 500 index and the s&p financial index over the five-year period through december 31, 2017. the graph and table assume that $100 was invested on december 31, 2012 in citi 2019s common stock, the s&p 500 index and the s&p financial index, and that all dividends were reinvested. comparison of five-year cumulative total return for the years ended date citi s&p 500 financials. date | citi | s&p 500 | s&p financials 31-dec-2012 | 100.0 | 100.0 | 100.0 31-dec-2013 | 131.8 | 132.4 | 135.6 31-dec-2014 | 137.0 | 150.5 | 156.2 31-dec-2015 | 131.4 | 152.6 | 153.9 31-dec-2016 | 152.3 | 170.8 | 188.9 31-dec-2017 | 193.5 | 208.1 | 230.9 . what is the value of s&p financials in 2016?

188.9

with apb no. 25. instead, companies will be required to account for such transactions using a fair-value method and recognize the related expense associated with share-based payments in the statement of operations. sfas 123r is effective for us as of january 1, 2006. we have historically accounted for share-based payments to employees under apb no. 25 2019s intrinsic value method. as such, we generally have not recognized compensation expense for options granted to employees. we will adopt the provisions of sfas 123r under the modified prospective method, in which compensation cost for all share-based payments granted or modified after the effective date is recognized based upon the requirements of sfas 123r, and compensation cost for all awards granted to employees prior to the effective date that are unvested as of the effective date of sfas 123r is recognized based on sfas 123. tax benefits will be recognized related to the cost for share-based payments to the extent the equity instrument would ordinarily result in a future tax deduction under existing law. tax expense will be recognized to write off excess deferred tax assets when the tax deduction upon settlement of a vested option is less than the expense recorded in the statement of operations (to the extent not offset by prior tax credits for settlements where the tax deduction was greater than the fair value cost). we estimate that we will recognize equity-based compensation expense of approximately $35 million to $38 million for the year ending december 31, 2006. this amount is subject to revisions as we finalize certain assumptions related to 2006, including the size and nature of awards and forfeiture rates. sfas 123r also requires the benefits of tax deductions in excess of recognized compensation cost be reported as a financing cash flow rather than as operating cash flow as was previously required. we cannot estimate what the future tax benefits will be as the amounts depend on, among other factors, future employee stock option exercises. due to the our tax loss position, there was no operating cash inflow realized for december 31, 2005 and 2004 for such excess tax deductions. in march 2005, the sec issued staff accounting bulletin (sab) no. 107 regarding the staff 2019s interpretation of sfas 123r. this interpretation provides the staff 2019s views regarding interactions between sfas 123r and certain sec rules and regulations and provides interpretations of the valuation of share-based payments for public companies. the interpretive guidance is intended to assist companies in applying the provisions of sfas 123r and investors and users of the financial statements in analyzing the information provided. we will follow the guidance prescribed in sab no. 107 in connection with our adoption of sfas 123r. information presented pursuant to the indentures of our 7.50% (7.50%) notes, 7.125% (7.125%) notes and ati 7.25% (7.25%) the following table sets forth information that is presented solely to address certain tower cash flow reporting requirements contained in the indentures for our 7.50% (7.50%) notes, 7.125% (7.125%) notes and ati 7.25% (7.25%) notes. the information contained in note 19 to our consolidated financial statements is also presented to address certain reporting requirements contained in the indenture for our ati 7.25% (7.25%) notes. the following table presents tower cash flow, adjusted consolidated cash flow and non-tower cash flow for the company and its restricted subsidiaries, as defined in the indentures for the applicable notes (in thousands):. tower cash flow for the three months ended december 31 2005 | $139590 consolidated cash flow for the twelve months ended december 31 2005 | $498266 less: tower cash flow for the twelve months ended december 31 2005 | -524804 (524804) plus: four times tower cash flow for the three months ended december 31 2005 | 558360 adjusted consolidated cash flow for the twelve months ended december 31 2005 | $531822 non-tower cash flow for the twelve months ended december 31 2005 | $-30584 (30584) . in the year of 2005, what was the total amount of the non-tower cash flow? -30584.0 and what was the adjusted consolidated cash flow? 531822.0 what, then, was that amount as a portion of this adjusted cash flow?

-0.05751

the aes corporation notes to consolidated financial statements december 31, 2016, 2015, and 2014 the following table summarizes the company's redeemable stock of subsidiaries balances as of the periods indicated (in millions):. december 31, | 2016 | 2015 ipalco common stock | $618 | $460 colon quotas (1) | 100 | 2014 ipl preferred stock | 60 | 60 other common stock | 4 | 2014 dpl preferred stock | 2014 | 18 total redeemable stock of subsidiaries | $782 | $538 _____________________________ (1) characteristics of quotas are similar to common stock. colon 2014 during the year ended december 31, 2016, our partner in colon increased their ownership from 25% (25%) to 49.9% (49.9%) and made capital contributions of $106 million. any subsequent adjustments to allocate earnings and dividends to our partner, or measure the investment at fair value, will be classified as temporary equity each reporting period as it is probable that the shares will become redeemable. ipl 2014 ipl had $60 million of cumulative preferred stock outstanding at december 31, 2016 and 2015, which represented five series of preferred stock. the total annual dividend requirements were approximately $3 million at december 31, 2016 and 2015. certain series of the preferred stock were redeemable solely at the option of the issuer at prices between $100 and $118 per share. holders of the preferred stock are entitled to elect a majority of ipl's board of directors if ipl has not paid dividends to its preferred stockholders for four consecutive quarters. based on the preferred stockholders' ability to elect a majority of ipl's board of directors in this circumstance, the redemption of the preferred shares is considered to be not solely within the control of the issuer and the preferred stock is considered temporary equity. dpl 2014 dpl had $18 million of cumulative preferred stock outstanding as of december 31, 2015, which represented three series of preferred stock issued by dp&l, a wholly-owned subsidiary of dpl. the dp&l preferred stock was redeemable at dp&l's option as determined by its board of directors at per-share redemption prices between $101 and $103 per share, plus cumulative preferred dividends. in addition, dp&l's amended articles of incorporation contained provisions that permitted preferred stockholders to elect members of the dp&l board of directors in the event that cumulative dividends on the preferred stock are in arrears in an aggregate amount equivalent to at least four full quarterly dividends. based on the preferred stockholders' ability to elect members of dp&l's board of directors in this circumstance, the redemption of the preferred shares was considered to be not solely within the control of the issuer and the preferred stock was considered temporary equity. in september 2016, it became probable that the preferred shares would become redeemable. as such, the company recorded an adjustment of $5 million to retained earnings to adjust the preferred shares to their redemption value of $23 million. in october 2016, dp&l redeemed all of its preferred shares. upon redemption, the preferred shares were no longer outstanding and all rights of the holders thereof as shareholders of dp&l ceased to exist. ipalco 2014 in february 2015, cdpq purchased 15% (15%) of aes us investment, inc., a wholly-owned subsidiary that owns 100% (100%) of ipalco, for $247 million, with an option to invest an additional $349 million in ipalco through 2016 in exchange for a 17.65% (17.65%) equity stake. in april 2015, cdpq invested an additional $214 million in ipalco, which resulted in cdpq's combined direct and indirect interest in ipalco of 24.90% (24.90%). as a result of these transactions, $84 million in taxes and transaction costs were recognized as a net decrease to equity. the company also recognized an increase to additional paid-in capital and a reduction to retained earnings of 377 million for the excess of the fair value of the shares over their book value. no gain or loss was recognized in net income as the transaction was not considered to be a sale of in-substance real estate. in march 2016, cdpq exercised its remaining option by investing $134 million in ipalco, which resulted in cdpq's combined direct and indirect interest in ipalco of 30% (30%). the company also recognized an increase to additional paid-in capital and a reduction to retained earnings of $84 million for the excess of the fair value of the shares over their book value. in june 2016, cdpq contributed an additional $24 million to ipalco, with no impact to the ownership structure of the investment. any subsequent adjustments to allocate earnings and dividends to cdpq will be classified as nci within permanent equity as it is not probable that the shares will become redeemable.. what were the total annual dividend requirements in the end of the 2015 and 2016? 3.0 and what was the amount of the ipl preferred stock?

60.0

we have adequate access to capital markets to meet any foreseeable cash requirements, and we have sufficient financial capacity to satisfy our current liabilities. cash flows millions 2014 2013 2012. cash flowsmillions | 2014 | 2013 | 2012 cash provided by operating activities | $7385 | $6823 | $6161 cash used in investing activities | -4249 (4249) | -3405 (3405) | -3633 (3633) cash used in financing activities | -2982 (2982) | -3049 (3049) | -2682 (2682) net change in cash and cashequivalents | $154 | $369 | $-154 (154) operating activities higher net income in 2014 increased cash provided by operating activities compared to 2013, despite higher income tax payments. 2014 income tax payments were higher than 2013 primarily due to higher income, but also because we paid taxes previously deferred by bonus depreciation (discussed below). higher net income in 2013 increased cash provided by operating activities compared to 2012. in addition, we made payments in 2012 for past wages as a result of national labor negotiations, which reduced cash provided by operating activities in 2012. lower tax benefits from bonus depreciation (as discussed below) partially offset the increases. federal tax law provided for 100% (100%) bonus depreciation for qualified investments made during 2011 and 50% (50%) bonus depreciation for qualified investments made during 2012-2013. as a result, the company deferred a substantial portion of its 2011-2013 income tax expense, contributing to the positive operating cash flow in those years. congress extended 50% (50%) bonus depreciation for 2014, but this extension occurred in december and did not have a significant benefit on our income tax payments during 2014. investing activities higher capital investments, including the early buyout of the long-term operating lease of our headquarters building for approximately $261 million, drove the increase in cash used in investing activities compared to 2013. significant investments also were made for new locomotives, freight cars and containers, and capacity and commercial facility projects. capital investments in 2014 also included $99 million for the early buyout of locomotives and freight cars under long-term operating leases, which we exercised due to favorable economic terms and market conditions. lower capital investments in locomotives and freight cars in 2013 drove the decrease in cash used in investing activities compared to 2012. included in capital investments in 2012 was $75 million for the early buyout of 165 locomotives under long-term operating and capital leases during the first quarter of 2012, which we exercised due to favorable economic terms and market conditions.. what was the cash by operating activities for 2014? 7385.0 and in 2013?

6823.0

15. commitments and contingencies in the ordinary course of business, the company is involved in lawsuits, arbitrations and other formal and informal dispute resolution procedures, the outcomes of which will determine the company 2019s rights and obligations under insurance and reinsurance agreements. in some disputes, the company seeks to enforce its rights under an agreement or to collect funds owing to it. in other matters, the company is resisting attempts by others to collect funds or enforce alleged rights. these disputes arise from time to time and are ultimately resolved through both informal and formal means, including negotiated resolution, arbitration and litigation. in all such matters, the company believes that its positions are legally and commercially reasonable. the company considers the statuses of these proceedings when determining its reserves for unpaid loss and loss adjustment expenses. aside from litigation and arbitrations related to these insurance and reinsurance agreements, the company is not a party to any other material litigation or arbitration. the company has entered into separate annuity agreements with the prudential insurance of america (201cthe prudential 201d) and an additional unaffiliated life insurance company in which the company has either purchased annuity contracts or become the assignee of annuity proceeds that are meant to settle claim payment obligations in the future. in both instances, the company would become contingently liable if either the prudential or the unaffiliated life insurance company were unable to make payments related to the respective annuity contract. the table below presents the estimated cost to replace all such annuities for which the company was contingently liable for the periods indicated:. (dollars in thousands) | at december 31, 2017 | at december 31, 2016 the prudential insurance company of america | $144618 | $146507 unaffiliated life insurance company | 34444 | 33860 16. share-based compensation plans the company has a 2010 stock incentive plan (201c2010 employee plan 201d), a 2009 non-employee director stock option and restricted stock plan (201c2009 director plan 201d) and a 2003 non-employee director equity compensation plan (201c2003 director plan 201d). under the 2010 employee plan, 4000000 common shares have been authorized to be granted as non- qualified share options, incentive share options, share appreciation rights, restricted share awards or performance share unit awards to officers and key employees of the company. at december 31, 2017, there were 2553473 remaining shares available to be granted under the 2010 employee plan. the 2010 employee plan replaced a 2002 employee plan, which replaced a 1995 employee plan; therefore, no further awards will be granted under the 2002 employee plan or the 1995 employee plan. through december 31, 2017, only non-qualified share options, restricted share awards and performance share unit awards had been granted under the employee plans. under the 2009 director plan, 37439 common shares have been authorized to be granted as share options or restricted share awards to non-employee directors of the company. at december 31, 2017, there were 34957 remaining shares available to be granted under the 2009 director plan. the 2009 director plan replaced a 1995 director plan, which expired. under the 2003 director plan, 500000 common shares have been authorized to be granted as share options or share awards to non-employee directors of the company. at december 31, 2017 there were 346714 remaining shares available to be granted under the 2003 director plan.. what is the balance in the unaffiliated life insurance company in 2017? 34444.0 what about in 2016? 33860.0 what is the net change? 584.0 what is the balance in the unaffiliated life insurance company in 2016?

33860.0

performance graph the graph below compares the cumulative total shareholder return on pmi's common stock with the cumulative total return for the same period of pmi's peer group and the s&p 500 index. the graph assumes the investment of $100 as of december 31, 2013, in pmi common stock (at prices quoted on the new york stock exchange) and each of the indices as of the market close and reinvestment of dividends on a quarterly basis. date pmi pmi peer group (1) s&p 500 index. date | pmi | pmi peer group (1) | s&p 500 index december 31 2013 | $100.00 | $100.00 | $100.00 december 31 2014 | $97.90 | $107.80 | $113.70 december 31 2015 | $111.00 | $116.80 | $115.30 december 31 2016 | $120.50 | $118.40 | $129.00 december 31 2017 | $144.50 | $140.50 | $157.20 december 31 2018 | $96.50 | $127.70 | $150.30 (1) the pmi peer group presented in this graph is the same as that used in the prior year. the pmi peer group was established based on a review of four characteristics: global presence; a focus on consumer products; and net revenues and a market capitalization of a similar size to those of pmi. the review also considered the primary international tobacco companies. as a result of this review, the following companies constitute the pmi peer group: altria group, inc., anheuser-busch inbev sa/nv, british american tobacco p.l.c., the coca-cola company, colgate-palmolive co., diageo plc, heineken n.v., imperial brands plc, japan tobacco inc., johnson & johnson, kimberly-clark corporation, the kraft-heinz company, mcdonald's corp., mondel z international, inc., nestl e9 s.a., pepsico, inc., the procter & gamble company, roche holding ag, and unilever nv and plc. note: figures are rounded to the nearest $0.10.. what was the value of pmi common stock in 2018? 96.5 what is that less 100? -3.5 what is that divided by 100? -0.035 what is the net change of the s&p 500 from 2013 to 2018?

50.3

during 2015, $82 million of provision recapture was recorded for purchased impaired loans compared to $91 million of provision recapture during 2014. charge-offs (which were specifically for commercial loans greater than a defined threshold) during 2015 were $12 million compared to $42 million during 2014. at december 31, 2015 and december 31, 2014, the alll on total purchased impaired loans was $.3 billion and $.9 billion, respectively. the decline in alll was primarily due to the change in our derecognition policy. for purchased impaired loan pools where an allowance has been recognized, subsequent increases in the net present value of cash flows will result in a provision recapture of any previously recorded alll to the extent applicable, and/or a reclassification from non-accretable difference to accretable yield, which will be recognized prospectively. individual loan transactions where final dispositions have occurred (as noted above) result in removal of the loans from their applicable pools for cash flow estimation purposes. the cash flow re- estimation process is completed quarterly to evaluate the appropriateness of the alll associated with the purchased impaired loans. activity for the accretable yield during 2015 and 2014 follows: table 66: purchased impaired loans 2013 accretable yield. in millions | 2015 | 2014 january 1 | $1558 | $2055 accretion (including excess cash recoveries) | -466 (466) | -587 (587) net reclassifications to accretable from non-accretable | 226 | 208 disposals | -68 (68) | -118 (118) december 31 | $1250 | $1558 note 5 allowances for loan and lease losses and unfunded loan commitments and letters of credit allowance for loan and lease losses we maintain the alll at levels that we believe to be appropriate to absorb estimated probable credit losses incurred in the portfolios as of the balance sheet date. we use the two main portfolio segments 2013 commercial lending and consumer lending 2013 and develop and document the alll under separate methodologies for each of these segments as discussed in note 1 accounting policies. a rollforward of the alll and associated loan data follows. the pnc financial services group, inc. 2013 form 10-k 141. what is the sum of the provision recapture for purchased impaired loans in 2014 and 2015? 173.0 what is that divided by 2?

86.5

entergy louisiana, inc. management's financial discussion and analysis gross operating revenues, fuel and purchased power expenses, and other regulatory credits gross operating revenues increased primarily due to: 2022 an increase of $98.0 million in fuel cost recovery revenues due to higher fuel rates; and 2022 an increase due to volume/weather, as discussed above. the increase was partially offset by the following: 2022 a decrease of $31.9 million in the price applied to unbilled sales, as discussed above; 2022 a decrease of $12.2 million in rate refund provisions, as discussed above; and 2022 a decrease of $5.2 million in gross wholesale revenue due to decreased sales to affiliated systems. fuel and purchased power expenses increased primarily due to: 2022 an increase in the recovery from customers of deferred fuel costs; and 2022 an increase in the market price of natural gas. other regulatory credits increased primarily due to: 2022 the deferral in 2004 of $14.3 million of capacity charges related to generation resource planning as allowed by the lpsc; 2022 the amortization in 2003 of $11.8 million of deferred capacity charges, as discussed above; and 2022 the deferral in 2004 of $11.4 million related to entergy's voluntary severance program, in accordance with a proposed stipulation with the lpsc staff. 2003 compared to 2002 net revenue, which is entergy louisiana's measure of gross margin, consists of operating revenues net of: 1) fuel, fuel-related, and purchased power expenses and 2) other regulatory charges (credits). following is an analysis of the change in net revenue comparing 2003 to 2002.. - | (in millions) 2002 net revenue | $922.9 deferred fuel cost revisions | 59.1 asset retirement obligation | 8.2 volume | -16.2 (16.2) vidalia settlement | -9.2 (9.2) other | 8.9 2003 net revenue | $973.7 the deferred fuel cost revisions variance resulted from a revised unbilled sales pricing estimate made in december 2002 and a further revision made in the first quarter of 2003 to more closely align the fuel component of that pricing with expected recoverable fuel costs. the asset retirement obligation variance was due to the implementation of sfas 143, "accounting for asset retirement obligations" adopted in january 2003. see "critical accounting estimates" for more details on sfas 143. the increase was offset by decommissioning expense and had no effect on net income. the volume variance was due to a decrease in electricity usage in the service territory. billed usage decreased 1868 gwh in the industrial sector including the loss of a large industrial customer to cogeneration.. what was the total increase in the other regulatory credits in 2003?

37.5

proportional free cash flow (a non-gaap measure) we define proportional free cash flow as cash flows from operating activities less maintenance capital expenditures (including non-recoverable environmental capital expenditures), adjusted for the estimated impact of noncontrolling interests. the proportionate share of cash flows and related adjustments attributable to noncontrolling interests in our subsidiaries comprise the proportional adjustment factor presented in the reconciliation below. upon the company's adoption of the accounting guidance for service concession arrangements effective january 1, 2015, capital expenditures related to service concession assets that would have been classified as investing activities on the consolidated statement of cash flows are now classified as operating activities. see note 1 2014general and summary of significant accounting policies of this form 10-k for further information on the adoption of this guidance. beginning in the quarter ended march 31, 2015, the company changed the definition of proportional free cash flow to exclude the cash flows for capital expenditures related to service concession assets that are now classified within net cash provided by operating activities on the consolidated statement of cash flows. the proportional adjustment factor for these capital expenditures is presented in the reconciliation below. we also exclude environmental capital expenditures that are expected to be recovered through regulatory, contractual or other mechanisms. an example of recoverable environmental capital expenditures is ipl's investment in mats-related environmental upgrades that are recovered through a tracker. see item 1. 2014us sbu 2014ipl 2014environmental matters for details of these investments. the gaap measure most comparable to proportional free cash flow is cash flows from operating activities. we believe that proportional free cash flow better reflects the underlying business performance of the company, as it measures the cash generated by the business, after the funding of maintenance capital expenditures, that may be available for investing or repaying debt or other purposes. factors in this determination include the impact of noncontrolling interests, where aes consolidates the results of a subsidiary that is not wholly-owned by the company. the presentation of free cash flow has material limitations. proportional free cash flow should not be construed as an alternative to cash from operating activities, which is determined in accordance with gaap. proportional free cash flow does not represent our cash flow available for discretionary payments because it excludes certain payments that are required or to which we have committed, such as debt service requirements and dividend payments. our definition of proportional free cash flow may not be comparable to similarly titled measures presented by other companies. calculation of proportional free cash flow (in millions) 2015 2014 2013 2015/2014change 2014/2013 change. calculation of proportional free cash flow (in millions) | 2015 | 2014 | 2013 | 2015/2014 change | 2014/2013 change net cash provided by operating activities | $2134 | $1791 | $2715 | $343 | $-924 (924) add: capital expenditures related to service concession assets (1) | 165 | 2014 | 2014 | 165 | 2014 adjusted operating cash flow | 2299 | 1791 | 2715 | 508 | -924 (924) less: proportional adjustment factor on operating cash activities (2) (3) | -558 (558) | -359 (359) | -834 (834) | -199 (199) | 475 proportional adjusted operating cash flow | 1741 | 1432 | 1881 | 309 | -449 (449) less: proportional maintenance capital expenditures net of reinsurance proceeds (2) | -449 (449) | -485 (485) | -535 (535) | 36 | 50 less: proportional non-recoverable environmental capital expenditures (2) (4) | -51 (51) | -56 (56) | -75 (75) | 5 | 19 proportional free cash flow | $1241 | $891 | $1271 | $350 | $-380 (380) (1) service concession asset expenditures excluded from proportional free cash flow non-gaap metric. (2) the proportional adjustment factor, proportional maintenance capital expenditures (net of reinsurance proceeds) and proportional non-recoverable environmental capital expenditures are calculated by multiplying the percentage owned by noncontrolling interests for each entity by its corresponding consolidated cash flow metric and are totaled to the resulting figures. for example, parent company a owns 20% (20%) of subsidiary company b, a consolidated subsidiary. thus, subsidiary company b has an 80% (80%) noncontrolling interest. assuming a consolidated net cash flow from operating activities of $100 from subsidiary b, the proportional adjustment factor for subsidiary b would equal $80 (or $100 x 80% (80%)). the company calculates the proportional adjustment factor for each consolidated business in this manner and then sums these amounts to determine the total proportional adjustment factor used in the reconciliation. the proportional adjustment factor may differ from the proportion of income attributable to noncontrolling interests as a result of (a) non-cash items which impact income but not cash and (b) aes' ownership interest in the subsidiary where such items occur. (3) includes proportional adjustment amount for service concession asset expenditures of $84 million for the year ended december 31, 2015. the company adopted service concession accounting effective january 1, 2015. (4) excludes ipl's proportional recoverable environmental capital expenditures of $205 million, $163 million and $110 million for the years december 31, 2015, 2014 and 2013, respectively.. what percentage did the change in the proportional free cash flow from 2008 to 2009 represent in relation to that cash in 2008?

-0.29898

note 8 2014 benefit plans the company has defined benefit pension plans covering certain employees in the united states and certain international locations. postretirement healthcare and life insurance benefits provided to qualifying domestic retirees as well as other postretirement benefit plans in international countries are not material. the measurement date used for the company 2019s employee benefit plans is september 30. effective january 1, 2018, the legacy u.s. pension plan was frozen to limit the participation of employees who are hired or re-hired by the company, or who transfer employment to the company, on or after january 1, net pension cost for the years ended september 30 included the following components:. (millions of dollars) | pension plans 2018 | pension plans 2017 | pension plans 2016 service cost | $136 | $110 | $81 interest cost | 90 | 61 | 72 expected return on plan assets | -154 (154) | -112 (112) | -109 (109) amortization of prior service credit | -13 (13) | -14 (14) | -15 (15) amortization of loss | 78 | 92 | 77 settlements | 2 | 2014 | 7 net pension cost | $137 | $138 | $113 net pension cost included in the preceding table that is attributable to international plans | $34 | $43 | $35 net pension cost included in the preceding table that is attributable to international plans $34 $43 $35 the amounts provided above for amortization of prior service credit and amortization of loss represent the reclassifications of prior service credits and net actuarial losses that were recognized in accumulated other comprehensive income (loss) in prior periods. the settlement losses recorded in 2018 and 2016 primarily included lump sum benefit payments associated with the company 2019s u.s. supplemental pension plan. the company recognizes pension settlements when payments from the supplemental plan exceed the sum of service and interest cost components of net periodic pension cost associated with this plan for the fiscal year.. what was the pension service cost in 2018, in millions?

136.0

middleton's reported cigars shipment volume for 2012 decreased 0.7% (0.7%) due primarily to changes in trade inventories, partially offset by volume growth as a result of retail share gains. in the cigarette category, marlboro's 2012 retail share performance continued to benefit from the brand-building initiatives supporting marlboro's new architecture. marlboro's retail share for 2012 increased 0.6 share points versus 2011 to 42.6% (42.6%). in january 2013, pm usa expanded distribution of marlboro southern cut nationally. marlboro southern cut is part of the marlboro gold family. pm usa's 2012 retail share increased 0.8 share points versus 2011, reflecting retail share gains by marlboro and by l&m in discount. these gains were partially offset by share losses on other portfolio brands. in the machine-made large cigars category, black & mild's retail share for 2012 increased 0.5 share points. the brand benefited from new untipped cigarillo varieties that were introduced in 2011, black & mild seasonal offerings and the 2012 third-quarter introduction of black & mild jazz untipped cigarillos into select geographies. in december 2012, middleton announced plans to launch nationally black & mild jazz cigars in both plastic tip and wood tip in the first quarter of 2013. the following discussion compares smokeable products segment results for the year ended december 31, 2011 with the year ended december 31, 2010. net revenues, which include excise taxes billed to customers, decreased $221 million (1.0% (1.0%)) due to lower shipment volume ($1051 million), partially offset by higher net pricing ($830 million), which includes higher promotional investments. operating companies income increased $119 million (2.1% (2.1%)), due primarily to higher net pricing ($831 million), which includes higher promotional investments, marketing, administration, and research savings reflecting cost reduction initiatives ($198 million) and 2010 implementation costs related to the closure of the cabarrus, north carolina manufacturing facility ($75 million), partially offset by lower volume ($527 million), higher asset impairment and exit costs due primarily to the 2011 cost reduction program ($158 million), higher per unit settlement charges ($120 million), higher charges related to tobacco and health judgments ($87 million) and higher fda user fees ($73 million). for 2011, total smokeable products shipment volume decreased 4.0% (4.0%) versus 2010. pm usa's reported domestic cigarettes shipment volume declined 4.0% (4.0%) versus 2010 due primarily to retail share losses and one less shipping day, partially offset by changes in trade inventories. after adjusting for changes in trade inventories and one less shipping day, pm usa's 2011 domestic cigarette shipment volume was estimated to be down approximately 4% (4%) versus 2010. pm usa believes that total cigarette category volume for 2011 decreased approximately 3.5% (3.5%) versus 2010, when adjusted primarily for changes in trade inventories and one less shipping day. pm usa's total premium brands (marlboro and other premium brands) shipment volume decreased 4.3% (4.3%). marlboro's shipment volume decreased 3.8% (3.8%) versus 2010. in the discount brands, pm usa's shipment volume decreased 0.9% (0.9%). pm usa's shipments of premium cigarettes accounted for 93.7% (93.7%) of its reported domestic cigarettes shipment volume for 2011, down from 93.9% (93.9%) in 2010. middleton's 2011 reported cigars shipment volume was unchanged versus 2010. for 2011, pm usa's retail share of the cigarette category declined 0.8 share points to 49.0% (49.0%) due primarily to retail share losses on marlboro. marlboro's 2011 retail share decreased 0.6 share points. in 2010, marlboro delivered record full-year retail share results that were achieved at lower margin levels. middleton retained a leading share of the tipped cigarillo segment of the machine-made large cigars category, with a retail share of approximately 84% (84%) in 2011. for 2011, middleton's retail share of the cigar category increased 0.3 share points to 29.7% (29.7%) versus 2010. black & mild's 2011 retail share increased 0.5 share points, as the brand benefited from new product introductions. during the fourth quarter of 2011, middleton broadened its untipped cigarillo portfolio with new aroma wrap 2122 foil pouch packaging that accompanied the national introduction of black & mild wine. this new fourth- quarter packaging roll-out also included black & mild sweets and classic varieties. during the second quarter of 2011, middleton entered into a contract manufacturing arrangement to source the production of a portion of its cigars overseas. middleton entered into this arrangement to access additional production capacity in an uncertain competitive environment and an excise tax environment that potentially benefits imported large cigars over those manufactured domestically. smokeless products segment the smokeless products segment's operating companies income grew during 2012 driven by higher pricing, copenhagen and skoal's combined volume and retail share performance and effective cost management. the following table summarizes smokeless products segment shipment volume performance: shipment volume for the years ended december 31. (cans and packs in millions) | shipment volumefor the years ended december 31, 2012 | shipment volumefor the years ended december 31, 2011 | shipment volumefor the years ended december 31, 2010 copenhagen | 392.5 | 354.2 | 327.5 skoal | 288.4 | 286.8 | 274.4 copenhagenandskoal | 680.9 | 641.0 | 601.9 other | 82.4 | 93.6 | 122.5 total smokeless products | 763.3 | 734.6 | 724.4 volume includes cans and packs sold, as well as promotional units, but excludes international volume, which is not material to the smokeless products segment. other includes certain usstc and pm usa smokeless products. new types of smokeless products, as well as new packaging configurations. during 2011, what percentage did the higher charges related to tobacco and health judgments represent in relation to the operating companies income increase?

0.73109

american tower corporation and subsidiaries notes to consolidated financial statements 2014 (continued) a description of the company 2019s reporting units and the results of the related transitional impairment testing are as follows: verestar 2014verestar was a single segment and reporting unit until december 2002, when the company committed to a plan to dispose of verestar. the company recorded an impairment charge of $189.3 million relating to the impairment of goodwill in this reporting unit. the fair value of this reporting unit was determined based on an independent third party appraisal. network development services 2014as of january 1, 2002, the reporting units in the company 2019s network development services segment included kline, specialty constructors, galaxy, mts components and flash technologies. the company estimated the fair value of these reporting units utilizing future discounted cash flows and market information as to the value of each reporting unit on january 1, 2002. the company recorded an impairment charge of $387.8 million for the year ended december 31, 2002 related to the impairment of goodwill within these reporting units. such charge included full impairment for all of the goodwill within the reporting units except kline, for which only a partial impairment was recorded. as discussed in note 2, the assets of all of these reporting units were sold as of december 31, 2003, except for those of kline and our tower construction services unit, which were sold in march and november 2004, respectively. rental and management 2014the company obtained an independent third party appraisal of the rental and management reporting unit that contains goodwill and determined that goodwill was not impaired. the company 2019s other intangible assets subject to amortization consist of the following as of december 31, (in thousands):. - | 2004 | 2003 acquired customer base and network location intangibles | $1369607 | $1299521 deferred financing costs | 89736 | 111484 acquired licenses and other intangibles | 43404 | 43125 total | 1502747 | 1454130 less accumulated amortization | -517444 (517444) | -434381 (434381) other intangible assets net | $985303 | $1019749 the company amortizes its intangible assets over periods ranging from three to fifteen years. amortization of intangible assets for the years ended december 31, 2004 and 2003 aggregated approximately $97.8 million and $94.6 million, respectively (excluding amortization of deferred financing costs, which is included in interest expense). the company expects to record amortization expense of approximately $97.8 million, $95.9 million, $92.0 million, $90.5 million and $88.8 million, respectively, for the years ended december 31, 2005, 2006, 2007, 2008 and 2009, respectively. 5. 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, 2004, and 2003, 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. what was the difference in amortization expense between 2008 and 2009? 1.9 so what was the percentage change? 0.01981 how much did the other intangible assets net change between 2003 and 2004?

-34446.0

part ii item 5. market for registrant 2019s common equity, related stockholder matters and issuer purchases of equity securities. the company 2019s common stock is listed on the new york stock exchange. prior to the separation of alcoa corporation from the company, the company 2019s common stock traded under the symbol 201caa. 201d in connection with the separation, on november 1, 2016, the company changed its stock symbol and its common stock began trading under the symbol 201carnc. 201d on october 5, 2016, the company 2019s common shareholders approved a 1-for-3 reverse stock split of the company 2019s outstanding and authorized shares of common stock (the 201creverse stock split 201d). as a result of the reverse stock split, every three shares of issued and outstanding common stock were combined into one issued and outstanding share of common stock, without any change in the par value per share. the reverse stock split reduced the number of shares of common stock outstanding from approximately 1.3 billion shares to approximately 0.4 billion shares, and proportionately decreased the number of authorized shares of common stock from 1.8 billion to 0.6 billion shares. the company 2019s common stock began trading on a reverse stock split-adjusted basis on october 6, 2016. on november 1, 2016, the company completed the separation of its business into two independent, publicly traded companies: the company and alcoa corporation. the separation was effected by means of a pro rata distribution by the company of 80.1% (80.1%) of the outstanding shares of alcoa corporation common stock to the company 2019s shareholders. the company 2019s shareholders of record as of the close of business on october 20, 2016 (the 201crecord date 201d) received one share of alcoa corporation common stock for every three shares of the company 2019s common stock held as of the record date. the company retained 19.9% (19.9%) of the outstanding common stock of alcoa corporation immediately following the separation. see disposition of retained shares in note c to the consolidated financial statements in part ii item 8 of this form 10-k. the following table sets forth, for the periods indicated, the high and low sales prices and quarterly dividend amounts per share of the company 2019s common stock as reported on the new york stock exchange, adjusted to take into account the reverse stock split effected on october 6, 2016. the prices listed below for those dates prior to november 1, 2016 reflect stock trading prices of alcoa inc. prior to the separation of alcoa corporation from the company on november 1, 2016, and therefore are not comparable to the company 2019s post-separation prices.. quarter | 2017 high | 2017 low | 2017 dividend | 2017 high | 2017 low | dividend first | $30.69 | $18.64 | $0.06 | $30.66 | $18.42 | $0.09 second | 28.65 | 21.76 | 0.06 | 34.50 | 26.34 | 0.09 third | 26.84 | 22.67 | 0.06 | 32.91 | 27.09 | 0.09 fourth (separation occurred on november 1 2016) | 27.85 | 22.74 | 0.06 | 32.10 | 16.75 | 0.09 year | $30.69 | $18.64 | $0.24 | $34.50 | $16.75 | $0.36 the number of holders of record of common stock was approximately 12271 as of february 16, 2018.. what is the ratio of common stock outstanding shares post split to prior?

0.30769

4. stock options and other stock plans we have 100962 options outstanding under the 1993 stock option and retention stock plan of union pacific corporation (1993 plan). there are 7140 restricted shares outstanding under the 1992 restricted stock plan for non-employee directors of union pacific corporation. we no longer grant options or awards of retention shares and units under these plans. in april 2000, the shareholders approved the union pacific corporation 2000 directors plan (directors plan) whereby 1100000 shares of our common stock were reserved for issuance to our non-employee directors. under the directors plan, each non-employee director, upon his or her initial election to the board of directors, receives a grant of 2000 shares of retention shares or retention stock units. prior to december 31, 2007, each non-employee director received annually an option to purchase at fair value a number of shares of our common stock, not to exceed 10000 shares during any calendar year, determined by dividing 60000 by 1/3 of the fair market value of one share of our common stock on the date of such board of directors meeting, with the resulting quotient rounded up or down to the nearest 50 shares. as of december 31, 2009, 18000 restricted shares were outstanding under the directors plan and 292000 options were outstanding under the directors plan. the union pacific corporation 2001 stock incentive plan (2001 plan) was approved by the shareholders in april 2001. the 2001 plan reserved 24000000 shares of our common stock for issuance to eligible employees of the corporation and its subsidiaries in the form of non-qualified options, incentive stock options, retention shares, stock units, and incentive bonus awards. non-employee directors were not eligible for awards under the 2001 plan. as of december 31, 2009, 3366230 options were outstanding under the 2001 plan. we no longer grant any stock options or other stock or unit awards under this plan. the union pacific corporation 2004 stock incentive plan (2004 plan) was approved by shareholders in april 2004. the 2004 plan reserved 42000000 shares of our common stock for issuance, plus any shares subject to awards made under the 2001 plan and the 1993 plan that were outstanding on april 16, 2004, and became available for regrant pursuant to the terms of the 2004 plan. under the 2004 plan, non- qualified options, stock appreciation rights, retention shares, stock units, and incentive bonus awards may be granted to eligible employees of the corporation and its subsidiaries. non-employee directors are not eligible for awards under the 2004 plan. as of december 31, 2009, 8939710 options and 3778997 retention shares and stock units were outstanding under the 2004 plan. pursuant to the above plans 33559150; 36961123; and 38601728 shares of our common stock were authorized and available for grant at december 31, 2009, 2008, and 2007, respectively. stock options 2013 we estimate the fair value of our stock option awards using the black-scholes option pricing model. groups of employees and non-employee directors that have similar historical and expected exercise behavior are considered separately for valuation purposes. the table below shows the annual weighted-average assumptions used for valuation purposes: weighted-average assumptions 2009 2008 2007. weighted-average assumptions | 2009 | 2008 | 2007 risk-free interest rate | 1.9% (1.9%) | 2.8% (2.8%) | 4.9% (4.9%) dividend yield | 2.3% (2.3%) | 1.4% (1.4%) | 1.4% (1.4%) expected life (years) | 5.1 | 5.3 | 4.7 volatility | 31.3% (31.3%) | 22.2% (22.2%) | 20.9% (20.9%) weighted-average grant-date fair value of options granted | $11.33 | $13.35 | $11.19 . what is the assumed fmv of a share? 2000.0 under the pre-december 31, 2007 plan what would have been the value correspondent to a third of that fmv? 666.66667 in order to determine the number of shares that can be bought by each non-employee director, what would be the value that gets divided by this third of the fmv? 60000.0 and what would be, then, that number of shares that can be bought?

90.0

jpmorgan chase & co./2014 annual report 63 five-year stock performance the following table and graph compare the five-year cumulative total return for jpmorgan chase & co. (201cjpmorgan chase 201d or the 201cfirm 201d) common stock with the cumulative return of the s&p 500 index, the kbw bank index and the s&p financial index. the s&p 500 index is a commonly referenced u.s. equity benchmark consisting of leading companies from different economic sectors. the kbw bank index seeks to reflect the performance of banks and thrifts that are publicly traded in the u.s. and is composed of 24 leading national money center and regional banks and thrifts. the s&p financial index is an index of 85 financial companies, all of which are components of the s&p 500. the firm is a component of all three industry indices. the following table and graph assume simultaneous investments of $100 on december 31, 2009, in jpmorgan chase common stock and in each of the above indices. the comparison assumes that all dividends are reinvested. december 31, (in dollars) 2009 2010 2011 2012 2013 2014. december 31 (in dollars) | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 jpmorgan chase | $100.00 | $102.30 | $81.87 | $111.49 | $152.42 | $167.48 kbw bank index | 100.00 | 123.36 | 94.75 | 125.91 | 173.45 | 189.69 s&p financial index | 100.00 | 112.13 | 93.00 | 119.73 | 162.34 | 186.98 s&p 500 index | 100.00 | 115.06 | 117.48 | 136.27 | 180.39 | 205.07 . what is the price of jpmorgan chase in 2014? 167.48 what is that less an initial $100 investment? 67.48 what is that change over 100?

0.6748

notes to consolidated financial statements 2014 (continued) in connection with these discover related purchases, we have sold the contractual rights to future commissions on discover transactions to certain of our isos. contractual rights sold totaled $7.6 million during the year ended may 31, 2008 and $1.0 million during fiscal 2009. such sale proceeds are generally collected in installments over periods ranging from three to nine months. during fiscal 2009, we collected $4.4 million of such proceeds, which are included in the proceeds from sale of investment and contractual rights in our consolidated statement of cash flows. we do not recognize gains on these sales of contractual rights at the time of sale. proceeds are deferred and recognized as a reduction of the related commission expense. during fiscal 2009, we recognized $1.2 million of such deferred sales proceeds as other long-term liabilities. other 2008 acquisitions during fiscal 2008, we acquired a majority of the assets of euroenvios money transfer, s.a. and euroenvios conecta, s.l., which we collectively refer to as lfs spain. lfs spain consisted of two privately- held corporations engaged in money transmittal and ancillary services from spain to settlement locations primarily in latin america. the purpose of the acquisition was to further our strategy of expanding our customer base and market share by opening additional branch locations. during fiscal 2008, we acquired a series of money transfer branch locations in the united states. the purpose of these acquisitions was to increase the market presence of our dolex-branded money transfer offering. the following table summarizes the preliminary purchase price allocations of all these fiscal 2008 business acquisitions (in thousands):. - | total goodwill | $13536 customer-related intangible assets | 4091 contract-based intangible assets | 1031 property and equipment | 267 other current assets | 502 total assets acquired | 19427 current liabilities | -2347 (2347) minority interest in equity of subsidiary (at historical cost) | -486 (486) net assets acquired | $16594 the customer-related intangible assets have amortization periods of up to 14 years. the contract-based intangible assets have amortization periods of 3 to 10 years. these business acquisitions were not significant to our consolidated financial statements and accordingly, we have not provided pro forma information relating to these acquisitions. in addition, during fiscal 2008, we acquired a customer list and long-term merchant referral agreement in our canadian merchant services channel for $1.7 million. the value assigned to the customer list of $0.1 million was expensed immediately. the remaining value was assigned to the merchant referral agreement and is being amortized on a straight-line basis over its useful life of 10 years. fiscal 2007 on july 24, 2006, we completed the purchase of a fifty-six percent ownership interest in the asia-pacific merchant acquiring business of the hongkong and shanghai banking corporation limited, or hsbc asia pacific. this business provides card payment processing services to merchants in the asia-pacific region. the. in the year of 2008, what were the preliminary purchase price allocations related to contract-based intangible assets, in thousands?

1031.0

n o t e s t o t h e c o n s o l i d a t e d f i n a n c i a l s t a t e m e n t s 2013 (continued) ace limited and subsidiaries excluded from adjusted weighted-average shares outstanding and assumed conversions is the impact of securities that would have been anti-dilutive during the respective years. for the years ended december 31, 2010, 2009, and 2008, the potential anti-dilutive share conversions were 256868 shares, 1230881 shares, and 638401 shares, respectively. 19. related party transactions the ace foundation 2013 bermuda is an unconsolidated not-for-profit organization whose primary purpose is to fund charitable causes in bermuda. the trustees are principally comprised of ace management. the company maintains a non-interest bear- ing demand note receivable from the ace foundation 2013 bermuda, the balance of which was $30 million and $31 million, at december 31, 2010 and 2009, respectively. the receivable is included in other assets in the accompanying consolidated balance sheets. the borrower has used the related proceeds to finance investments in bermuda real estate, some of which have been rented to ace employees at rates established by independent, professional real estate appraisers. the borrower uses income from the investments to both repay the note and to fund charitable activities. accordingly, the company reports the demand note at the lower of its principal value or the fair value of assets held by the borrower to repay the loan, including the real estate properties. 20. statutory financial information the company 2019s insurance and reinsurance subsidiaries are subject to insurance laws and regulations in the jurisdictions in which they operate. these regulations include restrictions that limit the amount of dividends or other distributions, such as loans or cash advances, available to shareholders without prior approval of the insurance regulatory authorities. there are no statutory restrictions on the payment of dividends from retained earnings by any of the bermuda subsidiaries as the minimum statutory capital and surplus requirements are satisfied by the share capital and additional paid-in capital of each of the bermuda subsidiaries. the company 2019s u.s. subsidiaries file financial statements prepared in accordance with statutory accounting practices prescribed or permitted by insurance regulators. statutory accounting differs from gaap in the reporting of certain reinsurance contracts, investments, subsidiaries, acquis- ition expenses, fixed assets, deferred income taxes, and certain other items. the statutory capital and surplus of the u.s. subsidiaries met regulatory requirements for 2010, 2009, and 2008. the amount of dividends available to be paid in 2011, without prior approval from the state insurance departments, totals $850 million. the following table presents the combined statutory capital and surplus and statutory net income of the bermuda and u.s. subsidiaries at and for the years ended december 31, 2010, 2009, and 2008.. (in millions of u.s. dollars) | bermuda subsidiaries 2010 | bermuda subsidiaries 2009 | bermuda subsidiaries 2008 | bermuda subsidiaries 2010 | bermuda subsidiaries 2009 | 2008 statutory capital and surplus | $11798 | $9164 | $6205 | $6266 | $5885 | $5368 statutory net income | $2430 | $2369 | $2196 | $1047 | $904 | $818 as permitted by the restructuring discussed previously in note 7, certain of the company 2019s u.s. subsidiaries discount certain a&e liabilities, which increased statutory capital and surplus by approximately $206 million, $215 million, and $211 million at december 31, 2010, 2009, and 2008, respectively. the company 2019s international subsidiaries prepare statutory financial statements based on local laws and regulations. some jurisdictions impose complex regulatory requirements on insurance companies while other jurisdictions impose fewer requirements. in some countries, the company must obtain licenses issued by governmental authorities to conduct local insurance business. these licenses may be subject to reserves and minimum capital and solvency tests. jurisdictions may impose fines, censure, and/or criminal sanctions for violation of regulatory requirements.. what is the statutory net income bermuda subsidiaries in 2010? 2430.0 what about 2009? 2369.0 what is the net change?

61.0

proportional free cash flow (a non-gaap measure) we define proportional free cash flow as cash flows from operating activities less maintenance capital expenditures (including non-recoverable environmental capital expenditures), adjusted for the estimated impact of noncontrolling interests. the proportionate share of cash flows and related adjustments attributable to noncontrolling interests in our subsidiaries comprise the proportional adjustment factor presented in the reconciliation below. upon the company's adoption of the accounting guidance for service concession arrangements effective january 1, 2015, capital expenditures related to service concession assets that would have been classified as investing activities on the consolidated statement of cash flows are now classified as operating activities. see note 1 2014general and summary of significant accounting policies of this form 10-k for further information on the adoption of this guidance. beginning in the quarter ended march 31, 2015, the company changed the definition of proportional free cash flow to exclude the cash flows for capital expenditures related to service concession assets that are now classified within net cash provided by operating activities on the consolidated statement of cash flows. the proportional adjustment factor for these capital expenditures is presented in the reconciliation below. we also exclude environmental capital expenditures that are expected to be recovered through regulatory, contractual or other mechanisms. an example of recoverable environmental capital expenditures is ipl's investment in mats-related environmental upgrades that are recovered through a tracker. see item 1. 2014us sbu 2014ipl 2014environmental matters for details of these investments. the gaap measure most comparable to proportional free cash flow is cash flows from operating activities. we believe that proportional free cash flow better reflects the underlying business performance of the company, as it measures the cash generated by the business, after the funding of maintenance capital expenditures, that may be available for investing or repaying debt or other purposes. factors in this determination include the impact of noncontrolling interests, where aes consolidates the results of a subsidiary that is not wholly-owned by the company. the presentation of free cash flow has material limitations. proportional free cash flow should not be construed as an alternative to cash from operating activities, which is determined in accordance with gaap. proportional free cash flow does not represent our cash flow available for discretionary payments because it excludes certain payments that are required or to which we have committed, such as debt service requirements and dividend payments. our definition of proportional free cash flow may not be comparable to similarly titled measures presented by other companies. calculation of proportional free cash flow (in millions) 2015 2014 2013 2015/2014change 2014/2013 change. calculation of proportional free cash flow (in millions) | 2015 | 2014 | 2013 | 2015/2014 change | 2014/2013 change net cash provided by operating activities | $2134 | $1791 | $2715 | $343 | $-924 (924) add: capital expenditures related to service concession assets (1) | 165 | 2014 | 2014 | 165 | 2014 adjusted operating cash flow | 2299 | 1791 | 2715 | 508 | -924 (924) less: proportional adjustment factor on operating cash activities (2) (3) | -558 (558) | -359 (359) | -834 (834) | -199 (199) | 475 proportional adjusted operating cash flow | 1741 | 1432 | 1881 | 309 | -449 (449) less: proportional maintenance capital expenditures net of reinsurance proceeds (2) | -449 (449) | -485 (485) | -535 (535) | 36 | 50 less: proportional non-recoverable environmental capital expenditures (2) (4) | -51 (51) | -56 (56) | -75 (75) | 5 | 19 proportional free cash flow | $1241 | $891 | $1271 | $350 | $-380 (380) (1) service concession asset expenditures excluded from proportional free cash flow non-gaap metric. (2) the proportional adjustment factor, proportional maintenance capital expenditures (net of reinsurance proceeds) and proportional non-recoverable environmental capital expenditures are calculated by multiplying the percentage owned by noncontrolling interests for each entity by its corresponding consolidated cash flow metric and are totaled to the resulting figures. for example, parent company a owns 20% (20%) of subsidiary company b, a consolidated subsidiary. thus, subsidiary company b has an 80% (80%) noncontrolling interest. assuming a consolidated net cash flow from operating activities of $100 from subsidiary b, the proportional adjustment factor for subsidiary b would equal $80 (or $100 x 80% (80%)). the company calculates the proportional adjustment factor for each consolidated business in this manner and then sums these amounts to determine the total proportional adjustment factor used in the reconciliation. the proportional adjustment factor may differ from the proportion of income attributable to noncontrolling interests as a result of (a) non-cash items which impact income but not cash and (b) aes' ownership interest in the subsidiary where such items occur. (3) includes proportional adjustment amount for service concession asset expenditures of $84 million for the year ended december 31, 2015. the company adopted service concession accounting effective january 1, 2015. (4) excludes ipl's proportional recoverable environmental capital expenditures of $205 million, $163 million and $110 million for the years december 31, 2015, 2014 and 2013, respectively.. what is the proportional recoverable environmental capital expenditures in 2015? 205.0 what is the value in 2014? 163.0 what is the sum of those 2 years?

368.0

notes to consolidated financial statements 2013 (continued) (amounts in millions, except per share amounts) cash flows for 2010, we expect to contribute $25.2 and $9.2 to our foreign pension plans and domestic pension plans, respectively. a significant portion of our contributions to the foreign pension plans relate to the u.k. pension plan. additionally, we are in the process of modifying the schedule of employer contributions for the u.k. pension plan and we expect to finalize this during 2010. as a result, we expect our contributions to our foreign pension plans to increase from current levels in 2010 and subsequent years. during 2009, we contributed $31.9 to our foreign pension plans and contributions to the domestic pension plan were negligible. the following estimated future benefit payments, which reflect future service, as appropriate, are expected to be paid in the years indicated below. domestic pension plans foreign pension plans postretirement benefit plans. years | domestic pension plans | foreign pension plans | postretirement benefit plans 2010 | $17.2 | $23.5 | $5.8 2011 | 11.1 | 24.7 | 5.7 2012 | 10.8 | 26.4 | 5.7 2013 | 10.5 | 28.2 | 5.6 2014 | 10.5 | 32.4 | 5.5 2015 2013 2019 | 48.5 | 175.3 | 24.8 the estimated future payments for our postretirement benefit plans are before any estimated federal subsidies expected to be received under the medicare prescription drug, improvement and modernization act of 2003. federal subsidies are estimated to range from $0.5 in 2010 to $0.6 in 2014 and are estimated to be $2.4 for the period 2015-2019. 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 allows 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 2009, 2008 and 2007 were $35.1, $29.6 and $31.4, respectively. expense includes a discretionary company contribution of $3.8, $4.0 and $4.9 offset by participant forfeitures of $2.7, $7.8, $6.0 in 2009, 2008 and 2007, respectively. in addition, we maintain defined contribution plans in various foreign countries and contributed $25.0, $28.7 and $26.7 to these plans in 2009, 2008 and 2007, respectively. deferred compensation and benefit arrangements we have deferred compensation 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. the arrangements typically provide that the participant will receive the amounts deferred plus interest upon attaining certain conditions, such as completing a certain number of years of service or upon retirement or termination. as of december 31, 2009 and 2008, the deferred compensation liability balance was $100.3 and $107.6, respectively. amounts expensed for deferred compensation arrangements in 2009, 2008 and 2007 were $11.6, $5.7 and $11.9, respectively. we have deferred benefit arrangements with certain key officers and employees that provide participants with an annual payment, payable when the participant attains a certain age and after the participant 2019s employment has terminated. the deferred benefit liability was $178.2 and $182.1 as of december 31, 2009 and 2008, respectively. amounts expensed for deferred benefit arrangements in 2009, 2008 and 2007 were $12.0, $14.9 and $15.5, 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, 2009 and 2008, the cash surrender value of these policies was $119.4 and $100.2, respectively. in addition to the life insurance policies, certain investments are held for the purpose of paying the deferred compensation and deferred benefit liabilities. these investments, along with the life insurance policies, are held in a separate revocable trust for the purpose of paying the deferred compensation and the deferred benefit. what was the difference between the highest and the lowest future benefit payment made for the postretirement benefit plans? 19.3 and concerning the defined contribution plans in various foreign countries, what was their amount in 2008? 28.7 what was it in 2007? 26.7 by how much, then, did it increase over the year?

2.0

republic services, inc. notes to consolidated financial statements 2014 (continued) 16. financial instruments fuel hedges we have entered into multiple swap agreements designated as cash flow hedges to mitigate some of our exposure related to changes in diesel fuel prices. these swaps qualified for, and were designated as, effective hedges of changes in the prices of forecasted diesel fuel purchases (fuel hedges). the following table summarizes our outstanding fuel hedges as of december 31, 2015: year gallons hedged weighted average contract price per gallon. year | gallons hedged | weighted average contractprice per gallon 2016 | 27000000 | $3.57 2017 | 12000000 | 2.92 if the national u.s. on-highway average price for a gallon of diesel fuel as published by the department of energy exceeds the contract price per gallon, we receive the difference between the average price and the contract price (multiplied by the notional gallons) from the counterparty. if the average price is less than the contract price per gallon, we pay the difference to the counterparty. the fair values of our fuel hedges are determined using standard option valuation models with assumptions about commodity prices based on those observed in underlying markets (level 2 in the fair value hierarchy). the aggregate fair values of our outstanding fuel hedges as of december 31, 2015 and 2014 were current liabilities of $37.8 million and $34.4 million, respectively, and have been recorded in other accrued liabilities in our consolidated balance sheets. the ineffective portions of the changes in fair values resulted in a loss of $0.4 million and $0.5 million for the years ended december 31, 2015 and 2014 respectively, and a gain of less than $0.1 million for the year ended december 31, 2013, and have been recorded in other income, net in our consolidated statements of income. total (loss) gain recognized in other comprehensive (loss) income for fuel hedges (the effective portion) was $(2.0) million, $(24.2) million and $2.4 million, for the years ended december 31, 2015, 2014 and 2013, respectively. recycling commodity hedges revenue from the sale of recycled commodities is primarily from sales of old corrugated cardboard and old newspaper. from time to time we use derivative instruments such as swaps and costless collars designated as cash flow hedges to manage our exposure to changes in prices of these commodities. we had no outstanding recycling commodity hedges as of december 31, 2015 and 2014. no amounts were recognized in other income, net in our consolidated statements of income for the ineffective portion of the changes in fair values during the years ended december 31, 2015, 2014 and 2013. total gain (loss) recognized in other comprehensive income for recycling commodity hedges (the effective portion) was $0.1 million and $(0.1) million for the years ended december 31, 2014 and 2013, respectively. no amount was recognized in other comprehensive income for 2015. fair value measurements in measuring fair values of assets and liabilities, we use valuation techniques that maximize the use of observable inputs (level 1) and minimize the use of unobservable inputs (level 3). we also use market data or assumptions that we believe market participants would use in pricing an asset or liability, including assumptions about risk when appropriate.. what is the 2015 value of outstanding fuel hedges less the 2014 value? 3.4 what is the 2014 value?

34.4

item 5. market for the registrant 2019s common equity, related stockholder matters and issuer purchases of equity securities the following graph compares annual total return of our common stock, the standard & poor 2019s 500 composite stock index (201cs&p 500 index 201d) and our peer group (201cloews peer group 201d) for the five years ended december 31, 2015. the graph assumes that the value of the investment in our common stock, the s&p 500 index and the loews peer group was $100 on december 31, 2010 and that all dividends were reinvested.. - | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 loews common stock | 100.0 | 97.37 | 106.04 | 126.23 | 110.59 | 101.72 s&p 500 index | 100.0 | 102.11 | 118.45 | 156.82 | 178.29 | 180.75 loews peer group (a) | 100.0 | 101.59 | 115.19 | 145.12 | 152.84 | 144.70 (a) the loews peer group consists of the following companies that are industry competitors of our principal operating subsidiaries: ace limited, w.r. berkley corporation, the chubb corporation, energy transfer partners l.p., ensco plc, the hartford financial services group, inc., kinder morgan energy partners, l.p. (included through november 26, 2014 when it was acquired by kinder morgan inc.), noble corporation, spectra energy corp, transocean ltd. and the travelers companies, inc. dividend information we have paid quarterly cash dividends on loews common stock in each year since 1967. regular dividends of $0.0625 per share of loews common stock were paid in each calendar quarter of 2015 and 2014.. what was the performance price of the loews common stock in 2012?

106.04

edwards lifesciences corporation notes to consolidated financial statements (continued) 13. common stock (continued) the company also maintains the nonemployee directors stock incentive compensation program (the 2018 2018nonemployee directors program 2019 2019). under the nonemployee directors program, upon a director 2019s initial election to the board, the director receives an initial grant of stock options or restricted stock units equal to a fair market value on grant date of $0.2 million, not to exceed 20000 shares. these grants vest over three years from the date of grant, subject to the director 2019s continued service. in addition, annually each nonemployee director may receive up to 40000 stock options or 16000 restricted stock units of the company 2019s common stock, or a combination thereof, provided that in no event may the total value of the combined annual award exceed $0.2 million. these grants generally vest over one year from the date of grant. under the nonemployee directors program, an aggregate of 2.8 million shares of the company 2019s common stock has been authorized for issuance. the company has an employee stock purchase plan for united states employees and a plan for international employees (collectively 2018 2018espp 2019 2019). under the espp, eligible employees may purchase shares of the company 2019s common stock at 85% (85%) of the lower of the fair market value of edwards lifesciences common stock on the effective date of subscription or the date of purchase. under the espp, employees can authorize the company to withhold up to 12% (12%) of their compensation for common stock purchases, subject to certain limitations. the espp is available to all active employees of the company paid from the united states payroll and to eligible employees of the company outside the united states, to the extent permitted by local law. the espp for united states employees is qualified under section 423 of the internal revenue code. the number of shares of common stock authorized for issuance under the espp was 13.8 million shares. the fair value of each option award and employee stock purchase subscription is estimated on the date of grant using the black-scholes option valuation model that uses the assumptions noted in the following tables. the risk-free interest rate is estimated using the u.s. treasury yield curve and is based on the expected term of the award. expected volatility is estimated based on a blend of the weighted-average of the historical volatility of edwards lifesciences 2019 stock and the implied volatility from traded options on edwards lifesciences 2019 stock. the expected term of awards granted is estimated from the vesting period of the award, as well as historical exercise behavior, and represents the period of time that awards granted are expected to be outstanding. the company uses historical data to estimate forfeitures and has estimated an annual forfeiture rate of 6.0% (6.0%). the black-scholes option pricing model was used with the following weighted-average assumptions for options granted during the following periods: option awards. - | 2016 | 2015 | 2014 average risk-free interest rate | 1.1% (1.1%) | 1.4% (1.4%) | 1.5% (1.5%) expected dividend yield | none | none | none expected volatility | 33% (33%) | 30% (30%) | 31% (31%) expected life (years) | 4.5 | 4.6 | 4.6 fair value per share | $31.00 | $18.13 | $11.75 . what is the fair value per share in 2016? 31.0 what is it in 2015? 18.13 what is the net change? 12.87 what is the percent change?

0.70987

stock performance graph this performance graph shall not be deemed 201cfiled 201d for purposes of section 18 of the securities exchange act of 1934, as amended (the 201cexchange act 201d) or otherwise subject to the liabilities under that section and shall not be deemed to be incorporated by reference into any filing of tractor supply company under the securities act of 1933, as amended, or the exchange act. the following graph compares the cumulative total stockholder return on our common stock from december 29, 2012 to december 30, 2017 (the company 2019s fiscal year-end), with the cumulative total returns of the s&p 500 index and the s&p retail index over the same period. the comparison assumes that $100 was invested on december 29, 2012, in our common stock and in each of the foregoing indices and in each case assumes reinvestment of dividends. the historical stock price performance shown on this graph is not indicative of future performance.. - | 12/29/2012 | 12/28/2013 | 12/27/2014 | 12/26/2015 | 12/31/2016 | 12/30/2017 tractor supply company | $100.00 | $174.14 | $181.29 | $201.04 | $179.94 | $180.52 s&p 500 | $100.00 | $134.11 | $155.24 | $156.43 | $173.74 | $211.67 s&p retail index | $100.00 | $147.73 | $164.24 | $207.15 | $219.43 | $286.13 . what is the price of tractor supply company in 2013? 174.14 what is the price in 2012? 100.0 what is the net change?

74.14

note 17. accumulated other comprehensive losses: pmi's accumulated other comprehensive losses, net of taxes, consisted of the following:. (losses) earnings (in millions) | (losses) earnings 2015 | (losses) earnings 2014 | 2013 currency translation adjustments | $-6129 (6129) | $-3929 (3929) | $-2207 (2207) pension and other benefits | -3332 (3332) | -3020 (3020) | -2046 (2046) derivatives accounted for as hedges | 59 | 123 | 63 total accumulated other comprehensive losses | $-9402 (9402) | $-6826 (6826) | $-4190 (4190) reclassifications from other comprehensive earnings the movements in accumulated other comprehensive losses and the related tax impact, for each of the components above, that are due to current period activity and reclassifications to the income statement are shown on the consolidated statements of comprehensive earnings for the years ended december 31, 2015, 2014, and 2013. the movement in currency translation adjustments for the year ended december 31, 2013, was also impacted by the purchase of the remaining shares of the mexican tobacco business. in addition, $1 million, $5 million and $12 million of net currency translation adjustment gains were transferred from other comprehensive earnings to marketing, administration and research costs in the consolidated statements of earnings for the years ended december 31, 2015, 2014 and 2013, respectively, upon liquidation of subsidiaries. for additional information, see note 13. benefit plans and note 15. financial instruments for disclosures related to pmi's pension and other benefits and derivative financial instruments. note 18. colombian investment and cooperation agreement: on june 19, 2009, pmi announced that it had signed an agreement with the republic of colombia, together with the departments of colombia and the capital district of bogota, to promote investment and cooperation with respect to the colombian tobacco market and to fight counterfeit and contraband tobacco products. the investment and cooperation agreement provides $200 million in funding to the colombian governments over a 20-year period to address issues of mutual interest, such as combating the illegal cigarette trade, including the threat of counterfeit tobacco products, and increasing the quality and quantity of locally grown tobacco. as a result of the investment and cooperation agreement, pmi recorded a pre-tax charge of $135 million in the operating results of the latin america & canada segment during the second quarter of 2009. at december 31, 2015 and 2014, pmi had $73 million and $71 million, respectively, of discounted liabilities associated with the colombian investment and cooperation agreement. these discounted liabilities are primarily reflected in other long-term liabilities on the consolidated balance sheets and are expected to be paid through 2028. note 19. rbh legal settlement: on july 31, 2008, rothmans inc. ("rothmans") announced the finalization of a cad 550 million settlement (or approximately $540 million, based on the prevailing exchange rate at that time) between itself and rothmans, benson & hedges inc. ("rbh"), on the one hand, and the government of canada and all 10 provinces, on the other hand. the settlement resolved the royal canadian mounted police's investigation relating to products exported from canada by rbh during the 1989-1996 period. rothmans' sole holding was a 60% (60%) interest in rbh. the remaining 40% (40%) interest in rbh was owned by pmi.. what is the net change in the value of total accumulated other comprehensive losses from 2013 or 2014?

2636.0

inventory on hand, as well as our future purchase commitments with our suppliers, considering multiple factors, including demand forecasts, product life cycle, current sales levels, pricing strategy and cost trends. if our review indicates that inventories of raw materials, components or finished products have become obsolete or are in excess of anticipated demand or that inventory cost exceeds net realizable value, we may be required to make adjustments that will impact the results of operations. goodwill and non-amortizable intangible assets valuation - we test goodwill and non-amortizable intangible assets for impairment annually or more frequently if events occur that would warrant such review. while the company has the option to perform a qualitative assessment for both goodwill and non-amortizable intangible assets to determine if it is more likely than not that an impairment exists, the company elects to perform the quantitative assessment for our annual impairment analysis. the impairment analysis involves comparing the fair value of each reporting unit or non-amortizable intangible asset to the carrying value. if the carrying value exceeds the fair value, goodwill or a non-amortizable intangible asset is considered impaired. to determine the fair value of goodwill, we primarily use a discounted cash flow model, supported by the market approach using earnings multiples of comparable global and local companies within the tobacco industry. at december 31, 2018, the carrying value of our goodwill was $7.2 billion, which is related to ten reporting units, each of which consists of a group of markets with similar economic characteristics. the estimated fair value of each of our ten reporting units exceeded the carrying value as of december 31, 2018. to determine the fair value of non-amortizable intangible assets, we primarily use a discounted cash flow model applying the relief-from-royalty method. we concluded that the fair value of our non- amortizable intangible assets exceeded the carrying value. these discounted cash flow models include management assumptions relevant for forecasting operating cash flows, which are subject to changes in business conditions, such as volumes and prices, costs to produce, discount rates and estimated capital needs. management considers historical experience and all available information at the time the fair values are estimated, and we believe these assumptions are consistent with the assumptions a hypothetical marketplace participant would use. since the march 28, 2008, spin-off from altria group, inc., we have not recorded a charge to earnings for an impairment of goodwill or non-amortizable intangible assets. marketing costs - we incur certain costs to support our products through programs that include advertising, marketing, consumer engagement and trade promotions. the costs of our advertising and marketing programs are expensed in accordance with u.s. gaap. recognition of the cost related to our consumer engagement and trade promotion programs contain uncertainties due to the judgment required in estimating the potential performance and compliance for each program. for volume-based incentives provided to customers, management continually assesses and estimates, by customer, the likelihood of the customer's achieving the specified targets, and records the reduction of revenue as the sales are made. for other trade promotions, management relies on estimated utilization rates that have been developed from historical experience. changes in the assumptions used in estimating the cost of any individual marketing program would not result in a material change in our financial position, results of operations or operating cash flows. employee benefit plans - as discussed in item 8, note 13. benefit plans to our consolidated financial statements, we provide a range of benefits to our employees and retired employees, including pensions, postretirement health care and postemployment benefits (primarily severance). we record annual amounts relating to these plans based on calculations specified by u.s. gaap. these calculations include various actuarial assumptions, such as discount rates, assumed rates of return on plan assets, compensation increases, mortality, turnover rates and health care cost trend rates. we review actuarial assumptions on an annual basis and make modifications to the assumptions based on current rates and trends when it is deemed appropriate to do so. as permitted by u.s. gaap, any effect of the modifications is generally amortized over future periods. we believe that the assumptions utilized in calculating our obligations under these plans are reasonable based upon our historical experience and advice from our actuaries. weighted-average discount rate assumptions for pension and postretirement plan obligations at december 31, 2018 and 2017 are as follows:. - | 2018 | 2017 pension plans | 1.61% (1.61%) | 1.51% (1.51%) postretirement plans | 3.97% (3.97%) | 3.79% (3.79%) we anticipate that assumption changes will increase 2019 pre-tax pension and postretirement expense to approximately $205 million as compared with approximately $160 million in 2018, excluding amounts related to employee severance and early retirement programs. the anticipated increase is primarily due to higher amortization out of other comprehensive earnings for unrecognized actuarial gains/ losses of $14 million, coupled with lower return on assets of $16 million, higher interest and service cost of $12 million and $4 million respectively, partially offset by other movements of $1 million. weighted-average expected rate of return and discount rate assumptions have a significant effect on the amount of expense reported for the employee benefit plans. a fifty-basis-point decrease in our discount rate would increase our 2019 pension and postretirement expense by approximately $50 million, and a fifty-basis-point increase in our discount rate would decrease our 2019 pension and postretirement. what was the weighted average discount rate for postretirement plans in 2018? 3.97 and what was it in 2017? 3.79 what was, then, the change over the year? 0.18 and how much does this change represent in relation to the 2017 weighted average discount rate, in percentage?

0.04749

comparison of cumulative return among lkq corporation, the nasdaq stock market (u.s.) index and the peer group. - | 12/31/2011 | 12/31/2012 | 12/31/2013 | 12/31/2014 | 12/31/2015 | 12/31/2016 lkq corporation | $100 | $140 | $219 | $187 | $197 | $204 s&p 500 index | $100 | $113 | $147 | $164 | $163 | $178 peer group | $100 | $111 | $140 | $177 | $188 | $217 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, 2016 included in part iii, item 12 of this annual report on form 10-k is incorporated herein by reference.. what was the change in the return of the lkq corporation from 2011 to 2016? 104.0 and how much does this change represent in relation to the return of that stock in 2011, in percentage? 1.04 what was the change in the return of the s&p 500 index from 2011 to 2016? 78.0 and what was that return in 2011? 100.0 how much, then, does that change represent in relation to this 2011 return, in percentage?

0.78

the following graph compares the cumulative 5-year total return to shareholders of cadence design systems, inc. 2019s common stock relative to the cumulative total returns of the s & p 500 index, the nasdaq composite index and the s & p information technology index. the graph assumes that the value of the investment in the company 2019s common stock and in each of the indexes (including reinvestment of dividends) was $100 on december 29, 2001 and tracks it through december 30, 2006. comparison of 5 year cumulative total return* among cadence design systems, inc., the s & p 500 index, the nasdaq composite index and the s & p information technology index 12/30/0612/31/051/1/051/3/0412/28/0212/29/01 cadence design systems, inc. nasdaq composite s & p information technology s & p 500 * $100 invested on 12/29/01 in stock or on 12/31/01 in index-incuding reinvestment of dividends. indexes calculated on month-end basis. copyright b7 2007, standard & poor 2019s, a division of the mcgraw-hill companies, inc. all rights reserved. www.researchdatagroup.com/s&p.htm december 29, december 28, january 3, january 1, december 31, december 30. - | december 29 2001 | december 28 2002 | january 3 2004 | january 1 2005 | december 31 2005 | december 30 2006 cadence design systems inc. | 100.00 | 54.38 | 81.52 | 61.65 | 75.54 | 79.96 s & p 500 | 100.00 | 77.90 | 100.24 | 111.15 | 116.61 | 135.03 nasdaq composite | 100.00 | 71.97 | 107.18 | 117.07 | 120.50 | 137.02 s & p information technology | 100.00 | 62.59 | 92.14 | 94.50 | 95.44 | 103.47 . what was the change in the value of the cadence design systems inc. from 2001 to 2006? -20.04 and what is this change as a percent of that value in 2001? -0.2004 and only from 2001 to 2005, what was that change for the s&p500 stock? 11.15 what is this s&p500 change as a portion of its value in 2001?

0.1115

part ii. item 5. market for registrant 2019s common equity, related stockholder matters and issuer purchases of equity securities our common stock is traded on the nasdaq global select market under the symbol cdns. as of february 2, 2019, we had 523 registered stockholders and approximately 56000 beneficial owners of our common stock. stockholder return performance graph the following graph compares the cumulative 5-year total stockholder return on our common stock relative to the cumulative total return of the nasdaq composite index, the s&p 500 index and the s&p 500 information technology index. the graph assumes that the value of the investment in our common stock and in each index on december 28, 2013 (including reinvestment of dividends) was $100 and tracks it each year thereafter on the last day of our fiscal year through december 29, 2018 and, for each index, on the last day of the calendar year. comparison of 5 year cumulative total return* among cadence design systems, inc., the nasdaq composite index, the s&p 500 index and the s&p 500 information technology index 12/29/181/2/16 12/30/1712/28/13 12/31/161/3/15 *$100 invested on 12/28/13 in stock or index, including reinvestment of dividends. fiscal year ending december 29. copyright a9 2019 standard & poor 2019s, a division of s&p global. all rights reserved. nasdaq compositecadence design systems, inc. s&p 500 s&p 500 information technology. - | 12/28/2013 | 1/3/2015 | 1/2/2016 | 12/31/2016 | 12/30/2017 | 12/29/2018 cadence design systems inc. | $100.00 | $135.18 | $149.39 | $181.05 | $300.22 | $311.13 nasdaq composite | 100.00 | 112.60 | 113.64 | 133.19 | 172.11 | 165.84 s&p 500 | 100.00 | 110.28 | 109.54 | 129.05 | 157.22 | 150.33 s&p 500 information technology | 100.00 | 115.49 | 121.08 | 144.85 | 201.10 | 200.52 the stock price performance included in this graph is not necessarily indicative of future stock price performance.. what is the value of cadence design stock in 2018? 311.13 what is that less an initial $100 investment? 211.13 what is is that difference over 100?

2.1113

market street commitments by credit rating (a) december 31, december 31. - | december 31 2009 | december 312008 aaa/aaa | 14% (14%) | 19% (19%) aa/aa | 50 | 6 a/a | 34 | 72 bbb/baa | 2 | 3 total | 100% (100%) | 100% (100%) (a) the majority of our facilities are not explicitly rated by the rating agencies. all facilities are structured to meet rating agency standards for applicable rating levels. we evaluated the design of market street, its capital structure, the note, and relationships among the variable interest holders. based on this analysis and under accounting guidance effective during 2009 and 2008, we are not the primary beneficiary and therefore the assets and liabilities of market street are not included on our consolidated balance sheet. we considered changes to the variable interest holders (such as new expected loss note investors and changes to program- level credit enhancement providers), terms of expected loss notes, and new types of risks related to market street as reconsideration events. we reviewed the activities of market street on at least a quarterly basis to determine if a reconsideration event has occurred. tax credit investments we make certain equity investments in various limited partnerships or limited liability companies (llcs) that sponsor affordable housing projects utilizing the low income housing tax credit (lihtc) pursuant to sections 42 and 47 of the internal revenue code. the purpose of these investments is to achieve a satisfactory return on capital, to facilitate the sale of additional affordable housing product offerings and to assist us in achieving goals associated with the community reinvestment act. the primary activities of the investments include the identification, development and operation of multi-family housing that is leased to qualifying residential tenants. generally, these types of investments are funded through a combination of debt and equity. we typically invest in these partnerships as a limited partner or non-managing member. also, we are a national syndicator of affordable housing equity (together with the investments described above, the 201clihtc investments 201d). in these syndication transactions, we create funds in which our subsidiaries are the general partner or managing member and sell limited partnership or non-managing member interests to third parties, and in some cases may also purchase a limited partnership or non-managing member interest in the fund. the purpose of this business is to generate income from the syndication of these funds, generate servicing fees by managing the funds, and earn tax credits to reduce our tax liability. general partner or managing member activities include selecting, evaluating, structuring, negotiating, and closing the fund investments in operating limited partnerships, as well as oversight of the ongoing operations of the fund portfolio. we evaluate our interests and third party interests in the limited partnerships/llcs in determining whether we are the primary beneficiary. the primary beneficiary determination is based on which party absorbs a majority of the variability. the primary sources of variability in lihtc investments are the tax credits, tax benefits due to passive losses on the investments and development and operating cash flows. we have consolidated lihtc investments in which we absorb a majority of the variability and thus are considered the primary beneficiary. the assets are primarily included in equity investments and other assets on our consolidated balance sheet with the liabilities classified in other liabilities and third party investors 2019 interests included in the equity section as noncontrolling interests. neither creditors nor equity investors in the lihtc investments have any recourse to our general credit. the consolidated aggregate assets and liabilities of these lihtc investments are provided in the consolidated vies 2013 pnc is primary beneficiary table and reflected in the 201cother 201d business segment. we also have lihtc investments in which we are not the primary beneficiary, but are considered to have a significant variable interest based on our interests in the partnership/llc. these investments are disclosed in the non-consolidated vies 2013 significant variable interests table. the table also reflects our maximum exposure to loss. our maximum exposure to loss is equal to our legally binding equity commitments adjusted for recorded impairment and partnership results. we use the equity and cost methods to account for our investment in these entities with the investments reflected in equity investments on our consolidated balance sheet. in addition, we increase our recognized investments and recognize a liability for all legally binding unfunded equity commitments. these liabilities are reflected in other liabilities on our consolidated balance sheet. credit risk transfer transaction national city bank, (a former pnc subsidiary which merged into pnc bank, n.a. in november 2009) sponsored a special purpose entity (spe) and concurrently entered into a credit risk transfer agreement with an independent third party to mitigate credit losses on a pool of nonconforming mortgage loans originated by its former first franklin business unit. the spe was formed with a small equity contribution and was structured as a bankruptcy-remote entity so that its creditors have no recourse to us. in exchange for a perfected security interest in the cash flows of the nonconforming mortgage loans, the spe issued to us asset-backed securities in the form of senior, mezzanine, and subordinated equity notes. the spe was deemed to be a vie as its equity was not sufficient to finance its activities. we were determined to be the primary beneficiary of the spe as we would absorb the majority of the expected losses of the spe through our holding of the asset-backed securities. accordingly, this spe was consolidated and all of the entity 2019s assets, liabilities, and. what is the aaa interest rate in 2009?

14.0

the table below details cash capital investments for the years ended december 31, 2006, 2005, and 2004. millions of dollars 2006 2005 2004. millions of dollars | 2006 | 2005 | 2004 track | $1487 | $1472 | $1328 capacity and commercial facilities | 510 | 509 | 347 locomotives and freight cars | 135 | 98 | 125 other | 110 | 90 | 76 total | $2242 | $2169 | $1876 in 2007, we expect our total capital investments to be approximately $3.2 billion, which may include long- term leases. these investments will be used to maintain track and structures, continue capacity expansions on our main lines in constrained corridors, remove bottlenecks, upgrade and augment equipment to better meet customer needs, build and improve facilities and terminals, and develop and implement new technologies. we designed these investments to maintain infrastructure for safety, enhance customer service, promote growth, and improve operational fluidity. we expect to fund our 2007 cash capital investments through cash generated from operations, the sale or lease of various operating and non-operating properties, and cash on hand at december 31, 2006. we expect that these sources will continue to provide sufficient funds to meet our expected capital requirements for 2007. for the years ended december 31, 2006, 2005, and 2004, our ratio of earnings to fixed charges was 4.4, 2.9, and 2.1, respectively. the increases in 2006 and 2005 were driven by higher net income. the ratio of earnings to fixed charges was computed on a consolidated basis. earnings represent income from continuing operations, less equity earnings net of distributions, plus fixed charges and income taxes. fixed charges represent interest charges, amortization of debt discount, and the estimated amount representing the interest portion of rental charges. see exhibit 12 for the calculation of the ratio of earnings to fixed charges. financing activities credit facilities 2013 on december 31, 2006, we had $2 billion in revolving credit facilities available, including $1 billion under a five-year facility expiring in march 2009 and $1 billion under a five-year facility expiring in march 2010 (collectively, the "facilities"). the facilities are designated for general corporate purposes and support the issuance of commercial paper. neither of the facilities were drawn on in 2006. commitment fees and interest rates payable under the facilities are similar to fees and rates available to comparably rated investment-grade borrowers. these facilities allow for borrowings at floating rates based on london interbank offered rates, plus a spread, depending upon our senior unsecured debt ratings. the facilities require the maintenance of a minimum net worth and a debt to net worth coverage ratio. at december 31, 2006, we were in compliance with these covenants. the facilities do not include any other financial restrictions, credit rating triggers (other than rating-dependent pricing), or any other provision that could require the posting of collateral. in addition to our revolving credit facilities, we had $150 million in uncommitted lines of credit available, including $75 million that expires in march 2007 and $75 million expiring in may 2007. neither of these lines of credit were used as of december 31, 2006. we must have equivalent credit available under our five-year facilities to draw on these $75 million lines. dividends 2013 on january 30, 2007, we increased the quarterly dividend to $0.35 per share, payable beginning on april 2, 2007, to shareholders of record on february 28, 2007. we expect to fund the increase in the quarterly dividend through cash generated from operations, the sale or lease of various operating and non-operating properties, and cash on hand at december 31, 2006. dividend restrictions 2013 we are subject to certain restrictions related to the payment of cash dividends to our shareholders due to minimum net worth requirements under our credit facilities. retained earnings available. what was the cash capital investments in track in 2006?

1487.0

equity compensation plan information the following table presents the equity securities available for issuance under our equity compensation plans as of december 31, 2017. equity compensation plan information plan category number of securities to be issued upon exercise of outstanding options, warrants and rights (1) weighted-average exercise price of outstanding options, warrants and rights number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a)) (a) (b) (c) equity compensation plans approved by security holders 448859 $0.00 4087587 equity compensation plans not approved by security holders (2) 2014 2014 2014. plan category | number of securities to be issued upon exercise of outstanding options warrants and rights (1) (a) (b) | weighted-average exercise price of outstanding optionswarrants and rights | number of securities remaining available for future issuance under equity compensation plans (excluding securitiesreflected in column (a)) (c) equity compensation plans approved by security holders | 448859 | $0.00 | 4087587 equity compensation plans not approved by security holders (2) | 2014 | 2014 | 2014 total | 448859 | $0.00 | 4087587 (1) includes grants made under the huntington ingalls industries, inc. 2012 long-term incentive stock plan (the "2012 plan"), which was approved by our stockholders on may 2, 2012, and the huntington ingalls industries, inc. 2011 long-term incentive stock plan (the "2011 plan"), which was approved by the sole stockholder of hii prior to its spin-off from northrop grumman corporation. of these shares, 27123 were stock rights granted under the 2011 plan. in addition, this number includes 28763 stock rights, 3075 restricted stock rights, and 389898 restricted performance stock rights granted under the 2012 plan, assuming target performance achievement. (2) there are no awards made under plans not approved by security holders. item 13. certain relationships and related transactions, and director independence information as to certain relationships and related transactions and director independence will be incorporated herein by reference to the proxy statement for our 2018 annual meeting of stockholders, to be filed within 120 days after the end of the company 2019s fiscal year. item 14. principal accountant fees and services information as to principal accountant fees and services will be incorporated herein by reference to the proxy statement for our 2018 annual meeting of stockholders, to be filed within 120 days after the end of the company 2019s fiscal year.. what is the number of securities to be issued upon exercise of outstanding options warrants and rights under equity compensation plans approved by security holders? 448859.0 and what is the number of securities remaining available for future issuance under those equity compensation plans? 4087587.0 what is, then, the combined total of securities between those two numbers? 4536446.0 what is the number of securities remaining available for future issuance under equity compensation plans approved by security holders?

4087587.0

our debt issuances in 2014 were as follows: (in millions) type face value (e) interest rate issuance maturity euro notes (a) 20ac750 (approximately $1029) 1.875% (1.875%) march 2014 march 2021 euro notes (a) 20ac1000 (approximately $1372) 2.875% (2.875%) march 2014 march 2026 euro notes (b) 20ac500 (approximately $697) 2.875% (2.875%) may 2014 may 2029 swiss franc notes (c) chf275 (approximately $311) 0.750% (0.750%) may 2014 december 2019 swiss franc notes (b) chf250 (approximately $283) 1.625% (1.625%) may 2014 may 2024 u.s. dollar notes (d) $500 1.250% (1.250%) november 2014 november 2017 u.s. dollar notes (d) $750 3.250% (3.250%) november 2014 november 2024 u.s. dollar notes (d) $750 4.250% (4.250%) november 2014 november 2044 (a) interest on these notes is payable annually in arrears beginning in march 2015. (b) interest on these notes is payable annually in arrears beginning in may 2015. (c) interest on these notes is payable annually in arrears beginning in december 2014. (d) interest on these notes is payable semiannually in arrears beginning in may 2015. (e) u.s. dollar equivalents for foreign currency notes were calculated based on exchange rates on the date of issuance. the net proceeds from the sale of the securities listed in the table above will be used for general corporate purposes. the weighted-average time to maturity of our long-term debt was 10.8 years at the end of 2013 and 2014. 2022 off-balance sheet arrangements and aggregate contractual obligations we have no off-balance sheet arrangements, including special purpose entities, other than guarantees and contractual obligations discussed below. guarantees 2013 at december 31, 2014, we were contingently liable for $1.0 billion of guarantees of our own performance, which were primarily related to excise taxes on the shipment of our products. there is no liability in the consolidated financial statements associated with these guarantees. at december 31, 2014, our third-party guarantees were insignificant.. type | - | face value (e) | interest rate | issuance | maturity euro notes | (a) | 20ac750 (approximately $1029) | 1.875% (1.875%) | march 2014 | march 2021 euro notes | (a) | 20ac1000 (approximately $1372) | 2.875% (2.875%) | march 2014 | march 2026 euro notes | (b) | 20ac500 (approximately $697) | 2.875% (2.875%) | may 2014 | may 2029 swiss franc notes | (c) | chf275 (approximately $311) | 0.750% (0.750%) | may 2014 | december 2019 swiss franc notes | (b) | chf250 (approximately $283) | 1.625% (1.625%) | may 2014 | may 2024 u.s. dollar notes | (d) | $500 | 1.250% (1.250%) | november 2014 | november 2017 u.s. dollar notes | (d) | $750 | 3.250% (3.250%) | november 2014 | november 2024 u.s. dollar notes | (d) | $750 | 4.250% (4.250%) | november 2014 | november 2044 our debt issuances in 2014 were as follows: (in millions) type face value (e) interest rate issuance maturity euro notes (a) 20ac750 (approximately $1029) 1.875% (1.875%) march 2014 march 2021 euro notes (a) 20ac1000 (approximately $1372) 2.875% (2.875%) march 2014 march 2026 euro notes (b) 20ac500 (approximately $697) 2.875% (2.875%) may 2014 may 2029 swiss franc notes (c) chf275 (approximately $311) 0.750% (0.750%) may 2014 december 2019 swiss franc notes (b) chf250 (approximately $283) 1.625% (1.625%) may 2014 may 2024 u.s. dollar notes (d) $500 1.250% (1.250%) november 2014 november 2017 u.s. dollar notes (d) $750 3.250% (3.250%) november 2014 november 2024 u.s. dollar notes (d) $750 4.250% (4.250%) november 2014 november 2044 (a) interest on these notes is payable annually in arrears beginning in march 2015. (b) interest on these notes is payable annually in arrears beginning in may 2015. (c) interest on these notes is payable annually in arrears beginning in december 2014. (d) interest on these notes is payable semiannually in arrears beginning in may 2015. (e) u.s. dollar equivalents for foreign currency notes were calculated based on exchange rates on the date of issuance. the net proceeds from the sale of the securities listed in the table above will be used for general corporate purposes. the weighted-average time to maturity of our long-term debt was 10.8 years at the end of 2013 and 2014. 2022 off-balance sheet arrangements and aggregate contractual obligations we have no off-balance sheet arrangements, including special purpose entities, other than guarantees and contractual obligations discussed below. guarantees 2013 at december 31, 2014, we were contingently liable for $1.0 billion of guarantees of our own performance, which were primarily related to excise taxes on the shipment of our products. there is no liability in the consolidated financial statements associated with these guarantees. at december 31, 2014, our third-party guarantees were insignificant.. what was the total of us dollar notes issued in november of 2014, in millions? 1500.0 and what was that total for the entire year?

2000.0

stockholder return performance graphs the following graph compares the cumulative 5-year total stockholder return on our common stock relative to the cumulative total return of the nasdaq composite index and the s&p 400 information technology index. the graph assumes that the value of the investment in our common stock and in each index (including reinvestment of dividends) was $100 on december 29, 2007 and tracks it through december 29, 2012. comparison of 5 year cumulative total return* among cadence design systems, inc., the nasdaq composite index, and s&p 400 information technology cadence design systems, inc. nasdaq composite s&p 400 information technology 12/29/1212/31/111/1/111/2/101/3/0912/29/07 *$100 invested on 12/29/07 in stock or 12/31/07 in index, including reinvestment of dividends. indexes calculated on month-end basis. copyright a9 2013 s&p, a division of the mcgraw-hill companies inc. all rights reserved.. - | 12/29/2007 | 1/3/2009 | 1/2/2010 | 1/1/2011 | 12/31/2011 | 12/29/2012 cadence design systems inc. | 100.00 | 22.55 | 35.17 | 48.50 | 61.07 | 78.92 nasdaq composite | 100.00 | 59.03 | 82.25 | 97.32 | 98.63 | 110.78 s&p 400 information technology | 100.00 | 54.60 | 82.76 | 108.11 | 95.48 | 109.88 the stock price performance included in this graph is not necessarily indicative of future stock price performance. what is the value of an investment in cadence design systems inc. in 2012? 78.92 what is the net change in value? -21.08 what rate of return does this represent? -0.2108 what about the net change in value of an investment in nasdaq composite from 2007 to 2012? 10.78 what is the rate of return for nasdaq composite? 0.1078 what is the difference in rate of return among these investments?

-31.86

the following table sets forth information concerning increases in the total number of our aap stores during the past five years:. - | 2012 | 2011 | 2010 | 2009 | 2008 beginning stores | 3460 | 3369 | 3264 | 3243 | 3153 new stores (1) | 116 | 95 | 110 | 75 | 109 stores closed | 2014 | -4 (4) | -5 (5) | -54 (54) | -19 (19) ending stores | 3576 | 3460 | 3369 | 3264 | 3243 (1) does not include stores that opened as relocations of previously existing stores within the same general market area or substantial renovations of stores. store technology. our store-based information systems are comprised of a proprietary and integrated point of sale, electronic parts catalog, or epc, and store-level inventory management system (collectively "store system"). information maintained by our store system is used to formulate pricing, marketing and merchandising strategies and to replenish inventory accurately and rapidly. our fully integrated system enables our store team members to assist our customers in their parts selection and ordering based on the year, make, model and engine type of their vehicles. our store system provides real-time inventory tracking at the store level allowing store team members to check the quantity of on-hand inventory for any sku, adjust stock levels for select items for store specific events, automatically process returns and defective merchandise, designate skus for cycle counts and track merchandise transfers. if a hard-to-find part or accessory is not available at one of our stores, the store system can determine whether the part is carried and in-stock through our hub or pdq ae networks or can be ordered directly from one of our vendors. available parts and accessories are then ordered electronically from another store, hub, pdq ae or directly from the vendor with immediate confirmation of price, availability and estimated delivery time. our centrally-based epc data management system enables us to reduce the time needed to (i) exchange data with our vendors and (ii) catalog and deliver updated, accurate parts information. we also support our store operations with additional proprietary systems and customer driven labor scheduling capabilities. all of these systems are tightly integrated and provide real-time, comprehensive information to store personnel, resulting in improved customer service levels, team member productivity and in-stock availability. we plan to start rolling out a new and enhanced epc in fiscal 2013 which is expected to simplify and improve the customer experience. among the improvements is a more efficient way to systematically identify add-on sales to ensure our customers have what they need to complete their automotive repair project. store support center merchandising. purchasing for virtually all of the merchandise for our stores is handled by our merchandise teams located in three primary locations: 2022 store support center in roanoke, virginia; 2022 regional office in minneapolis, minnesota; and 2022 global sourcing office in taipei, taiwan. our roanoke team is primarily responsible for the parts categories and our minnesota team is primarily responsible for accessories, oil and chemicals. our global sourcing team works closely with both teams. in fiscal 2012, we purchased merchandise from approximately 450 vendors, with no single vendor accounting for more than 9% (9%) of purchases. our purchasing strategy involves negotiating agreements with most of our vendors to purchase merchandise over a specified period of time along with other terms, including pricing, payment terms and volume. the merchandising team has developed strong vendor relationships in the industry and, in a collaborative effort with our vendor partners, utilizes a category management process where we manage the mix of our product offerings to meet customer demand. we believe this process, which develops a customer-focused business plan for each merchandise category, and our global sourcing operation are critical to improving comparable store sales, gross margin and inventory productivity.. what were the number of stores at the end of 2011?

3460.0

jpmorgan chase & co./2014 annual report 63 five-year stock performance the following table and graph compare the five-year cumulative total return for jpmorgan chase & co. (201cjpmorgan chase 201d or the 201cfirm 201d) common stock with the cumulative return of the s&p 500 index, the kbw bank index and the s&p financial index. the s&p 500 index is a commonly referenced u.s. equity benchmark consisting of leading companies from different economic sectors. the kbw bank index seeks to reflect the performance of banks and thrifts that are publicly traded in the u.s. and is composed of 24 leading national money center and regional banks and thrifts. the s&p financial index is an index of 85 financial companies, all of which are components of the s&p 500. the firm is a component of all three industry indices. the following table and graph assume simultaneous investments of $100 on december 31, 2009, in jpmorgan chase common stock and in each of the above indices. the comparison assumes that all dividends are reinvested. december 31, (in dollars) 2009 2010 2011 2012 2013 2014. december 31 (in dollars) | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 jpmorgan chase | $100.00 | $102.30 | $81.87 | $111.49 | $152.42 | $167.48 kbw bank index | 100.00 | 123.36 | 94.75 | 125.91 | 173.45 | 189.69 s&p financial index | 100.00 | 112.13 | 93.00 | 119.73 | 162.34 | 186.98 s&p 500 index | 100.00 | 115.06 | 117.48 | 136.27 | 180.39 | 205.07 . what was the change in the return of the kbw bank index from 2009 to 2014?

89.69

note 8 2014 benefit plans the company has defined benefit pension plans covering certain employees in the united states and certain international locations. postretirement healthcare and life insurance benefits provided to qualifying domestic retirees as well as other postretirement benefit plans in international countries are not material. the measurement date used for the company 2019s employee benefit plans is september 30. effective january 1, 2018, the legacy u.s. pension plan was frozen to limit the participation of employees who are hired or re-hired by the company, or who transfer employment to the company, on or after january 1, net pension cost for the years ended september 30 included the following components:. (millions of dollars) | pension plans 2018 | pension plans 2017 | pension plans 2016 service cost | $136 | $110 | $81 interest cost | 90 | 61 | 72 expected return on plan assets | -154 (154) | -112 (112) | -109 (109) amortization of prior service credit | -13 (13) | -14 (14) | -15 (15) amortization of loss | 78 | 92 | 77 settlements | 2 | 2014 | 7 net pension cost | $137 | $138 | $113 net pension cost included in the preceding table that is attributable to international plans | $34 | $43 | $35 net pension cost included in the preceding table that is attributable to international plans $34 $43 $35 the amounts provided above for amortization of prior service credit and amortization of loss represent the reclassifications of prior service credits and net actuarial losses that were recognized in accumulated other comprehensive income (loss) in prior periods. the settlement losses recorded in 2018 and 2016 primarily included lump sum benefit payments associated with the company 2019s u.s. supplemental pension plan. the company recognizes pension settlements when payments from the supplemental plan exceed the sum of service and interest cost components of net periodic pension cost associated with this plan for the fiscal year.. what was the net pension cost in 2018? 137.0 and in 2017?

138.0

the aes corporation notes to consolidated financial statements 2014 (continued) december 31, 2017, 2016, and 2015 on december 8, 2017, the board of directors declared a quarterly common stock dividend of $0.13 per share payable on february 15, 2018 to shareholders of record at the close of business on february 1, 2018. stock repurchase program 2014 no shares were repurchased in 2017. the cumulative repurchases from the commencement of the program in july 2010 through december 31, 2017 totaled 154.3 million shares for a total cost of $1.9 billion, at an average price per share of $12.12 (including a nominal amount of commissions). as of december 31, 2017, $246 million remained available for repurchase under the program. the common stock repurchased has been classified as treasury stock and accounted for using the cost method. a total of 155924785 and 156878891 shares were held as treasury stock at december 31, 2017 and 2016, respectively. restricted stock units under the company's employee benefit plans are issued from treasury stock. the company has not retired any common stock repurchased since it began the program in july 2010. 15. segments and geographic information the segment reporting structure uses the company's organizational structure as its foundation to reflect how the company manages the businesses internally and is organized by geographic regions which provides a socio- political-economic understanding of our business. during the third quarter of 2017, the europe and asia sbus were merged in order to leverage scale and are now reported as part of the eurasia sbu. the management reporting structure is organized by five sbus led by our president and chief executive officer: us, andes, brazil, mcac and eurasia sbus. the company determined that it has five operating and five reportable segments corresponding to its sbus. all prior period results have been retrospectively revised to reflect the new segment reporting structure. in february 2018, we announced a reorganization as a part of our ongoing strategy to simplify our portfolio, optimize our cost structure, and reduce our carbon intensity. the company is currently evaluating the impact this reorganization will have on our segment reporting structure. corporate and other 2014 corporate overhead costs which are not directly associated with the operations of our five reportable segments are included in "corporate and other." also included are certain intercompany charges such as self-insurance premiums which are fully eliminated in consolidation. the company uses adjusted ptc as its primary segment performance measure. adjusted ptc, a non-gaap measure, is defined by the company as pre-tax income from continuing operations attributable to the aes corporation excluding gains or losses of the consolidated entity due to (a) unrealized gains or losses related to derivative transactions; (b) unrealized foreign currency gains or losses; (c) gains, losses and associated benefits and costs due to dispositions and acquisitions of business interests, including early plant closures; (d) losses due to impairments; (e) gains, losses and costs due to the early retirement of debt; and (f) costs directly associated with a major restructuring program, including, but not limited to, workforce reduction efforts, relocations, and office consolidation. adjusted ptc also includes net equity in earnings of affiliates on an after-tax basis adjusted for the same gains or losses excluded from consolidated entities. the company has concluded adjusted ptc better reflects the underlying business performance of the company and is the most relevant measure considered in the company's internal evaluation of the financial performance of its segments. additionally, given its large number of businesses and complexity, the company concluded that adjusted ptc is a more transparent measure that better assists investors in determining which businesses have the greatest impact on the company's results. revenue and adjusted ptc are presented before inter-segment eliminations, which includes the effect of intercompany transactions with other segments except for interest, charges for certain management fees, and the write-off of intercompany balances, as applicable. all intra-segment activity has been eliminated within the segment. inter-segment activity has been eliminated within the total consolidated results. the following tables present financial information by segment for the periods indicated (in millions):. year ended december 31, | total revenue 2017 | total revenue 2016 | total revenue 2015 us sbu | $3229 | $3429 | $3593 andes sbu | 2710 | 2506 | 2489 brazil sbu | 542 | 450 | 962 mcac sbu | 2448 | 2172 | 2353 eurasia sbu | 1590 | 1670 | 1875 corporate and other | 35 | 77 | 31 eliminations | -24 (24) | -23 (23) | -43 (43) total revenue | $10530 | $10281 | $11260 . what was the total net revenue in 2017, in millions? 10530.0 and what was the net revenue only in the us segment, also in millions? 3229.0 what was, then, in millions of dollars, the total net revenue in 2017 without counting the us? 7301.0 and how much is that in dollars?

7301000000.0

net revenues include $3.8 billion in 2017 and $739 million in 2016 related to the sale of rrps, mainly driven by japan. these net revenue amounts include excise taxes billed to customers. excluding excise taxes, net revenues for rrps were $3.6 billion in 2017 and $733 million in 2016. in some jurisdictions, including japan, we are not responsible for collecting excise taxes. in 2017, approximately $0.9 billion of our $3.6 billion in rrp net revenues, excluding excise taxes, were from iqos devices and accessories. excise taxes on products increased by $1.1 billion, due to: 2022 higher excise taxes resulting from changes in retail prices and tax rates ($4.6 billion), partially offset by 2022 favorable currency ($1.9 billion) and 2022 lower excise taxes resulting from volume/mix ($1.6 billion). our cost of sales; marketing, administration and research costs; and operating income were as follows: for the years ended december 31, variance. (in millions) | for the years ended december 31, 2017 | for the years ended december 31, 2016 | for the years ended december 31, $|% (%) cost of sales | $10432 | $9391 | $1041 | 11.1% (11.1%) marketing administration and research costs | 6725 | 6405 | 320 | 5.0% (5.0%) operating income | 11503 | 10815 | 688 | 6.4% (6.4%) cost of sales increased by $1.0 billion, due to: 2022 higher cost of sales resulting from volume/mix ($1.1 billion), partly offset by 2022 lower manufacturing costs ($36 million) and 2022 favorable currency ($30 million). marketing, administration and research costs increased by $320 million, due to: 2022 higher expenses ($570 million, largely reflecting increased investment behind reduced-risk products, predominately in the european union and asia), partly offset by 2022 favorable currency ($250 million). operating income increased by $688 million, due primarily to: 2022 price increases ($1.4 billion), partly offset by 2022 higher marketing, administration and research costs ($570 million) and 2022 unfavorable currency ($157 million). interest expense, net, of $914 million increased by $23 million, due primarily to unfavorably currency and higher average debt levels, partly offset by higher interest income. our effective tax rate increased by 12.8 percentage points to 40.7% (40.7%). the 2017 effective tax rate was unfavorably impacted by $1.6 billion due to the tax cuts and jobs act. for further details, see item 8, note 11. income taxes to our consolidated financial statements. we are continuing to evaluate the impact that the tax cuts and jobs act will have on our tax liability. based upon our current interpretation of the tax cuts and jobs act, we estimate that our 2018 effective tax rate will be approximately 28% (28%), subject to future regulatory developments and earnings mix by taxing jurisdiction. we are regularly examined by tax authorities around the world, and we are currently under examination in a number of jurisdictions. it is reasonably possible that within the next 12 months certain tax examinations will close, which could result in a change in unrecognized tax benefits along with related interest and penalties. an estimate of any possible change cannot be made at this time. net earnings attributable to pmi of $6.0 billion decreased by $932 million (13.4% (13.4%)). this decrease was due primarily to a higher effective tax rate as discussed above, partly offset by higher operating income. diluted and basic eps of $3.88 decreased by 13.4% (13.4%). excluding. by what amount did the net earnings attributable to pmi decrease over the year, in millions?

932.0

the goldman sachs group, inc. and subsidiaries notes to consolidated financial statements in the tables above: 2030 the gross fair values exclude the effects of both counterparty netting and collateral netting, and therefore are not representative of the firm 2019s exposure. 2030 counterparty netting is reflected in each level to the extent that receivable and payable balances are netted within the same level and is included in counterparty netting in levels. where the counterparty netting is across levels, the netting is included in cross-level counterparty netting. 2030 derivative assets are shown as positive amounts and derivative liabilities are shown as negative amounts. significant unobservable inputs the table below presents the amount of level 3 assets (liabilities), and ranges, averages and medians of significant unobservable inputs used to value the firm 2019s level 3 derivatives. level 3 assets (liabilities) and range of significant unobservable inputs (average/median) as of december $in millions 2017 2016. $in millions | level 3 assets (liabilities) and range of significant unobservable inputs (average/median) as of december 2017 | level 3 assets (liabilities) and range of significant unobservable inputs (average/median) as of december 2016 interest rates net | $-410 (410) | $-381 (381) correlation | (10)% (%) to 95% (95%) (71%/79% (71%/79%)) | (10)% (%) to 86% (86%) (56%/60% (56%/60%)) volatility (bps) | 31 to 150 (84/78) | 31 to 151 (84/57) credit net | $1505 | $2504 correlation | 28% (28%) to 84% (84%) (61%/60% (61%/60%)) | 35% (35%) to 91% (91%) (65%/68% (65%/68%)) credit spreads (bps) | 1 to 633 (69/42) | 1 to 993 (122/73) upfront credit points | 0 to 97 (42/38) | 0 to 100 (43/35) recovery rates | 22% (22%) to 73% (73%) (68%/73% (68%/73%)) | 1% (1%) to 97% (97%) (58%/70% (58%/70%)) currencies net | $-181 (181) | $3 correlation | 49% (49%) to 72% (72%) (61%/62% (61%/62%)) | 25% (25%) to 70% (70%) (50%/55% (50%/55%)) commodities net | $47 | $73 volatility | 9% (9%) to 79% (79%) (24%/24% (24%/24%)) | 13% (13%) to 68% (68%) (33%/33% (33%/33%)) natural gas spread | $(2.38) to $3.34 ($(0.22) /$(0.12)) | $(1.81) to $4.33 ($(0.14) /$(0.05)) oil spread | $(2.86) to $23.61 ($6.47/$2.35) | $(19.72) to $64.92 ($25.30/$16.43) equities net | $-1249 (1249) | $-3416 (3416) correlation | (36)% (%) to 94% (94%) (50%/52% (50%/52%)) | (39)% (%) to 88% (88%) (41%/41% (41%/41%)) volatility | 4% (4%) to 72% (72%) (24%/22% (24%/22%)) | 5% (5%) to 72% (72%) (24%/23% (24%/23%)) in the table above: 2030 derivative assets are shown as positive amounts and derivative liabilities are shown as negative amounts. 2030 ranges represent the significant unobservable inputs that were used in the valuation of each type of derivative. 2030 averages represent the arithmetic average of the inputs and are not weighted by the relative fair value or notional of the respective financial instruments. an average greater than the median indicates that the majority of inputs are below the average. for example, the difference between the average and the median for credit spreads and oil spread inputs indicates that the majority of the inputs fall in the lower end of the range. 2030 the ranges, averages and medians of these inputs are not representative of the appropriate inputs to use when calculating the fair value of any one derivative. for example, the highest correlation for interest rate derivatives is appropriate for valuing a specific interest rate derivative but may not be appropriate for valuing any other interest rate derivative. accordingly, the ranges of inputs do not represent uncertainty in, or possible ranges of, fair value measurements of the firm 2019s level 3 derivatives. 2030 interest rates, currencies and equities derivatives are valued using option pricing models, credit derivatives are valued using option pricing, correlation and discounted cash flow models, and commodities derivatives are valued using option pricing and discounted cash flow models. 2030 the fair value of any one instrument may be determined using multiple valuation techniques. for example, option pricing models and discounted cash flows models are typically used together to determine fair value. therefore, the level 3 balance encompasses both of these techniques. 2030 correlation within currencies and equities includes cross- product type correlation. 2030 natural gas spread represents the spread per million british thermal units of natural gas. 2030 oil spread represents the spread per barrel of oil and refined products. range of significant unobservable inputs the following is information about the ranges of significant unobservable inputs used to value the firm 2019s level 3 derivative instruments: 2030 correlation. ranges for correlation cover a variety of underliers both within one product type (e.g., equity index and equity single stock names) and across product types (e.g., correlation of an interest rate and a currency), as well as across regions. generally, cross-product type correlation inputs are used to value more complex instruments and are lower than correlation inputs on assets within the same derivative product type. 2030 volatility. ranges for volatility cover numerous underliers across a variety of markets, maturities and strike prices. for example, volatility of equity indices is generally lower than volatility of single stocks. 2030 credit spreads, upfront credit points and recovery rates. the ranges for credit spreads, upfront credit points and recovery rates cover a variety of underliers (index and single names), regions, sectors, maturities and credit qualities (high-yield and investment-grade). the broad range of this population gives rise to the width of the ranges of significant unobservable inputs. 130 goldman sachs 2017 form 10-k. between 2016 and 2017, what was the variation in the credit net? -999.0 and what was that credit net in 2016? 2504.0 what was, then, that variation as a percent of this 2016 amount? -0.39896 and in that same period, what was that variation for the net comodities? -26.0 and what percentage did this variation represent in relation to the 2016 commodities?

-0.35616

pension expense. - | 2016 | 2015 | 2014 pension expense | $68.1 | $135.6 | $135.9 special terminations settlements and curtailments (included above) | 7.3 | 35.2 | 5.8 weighted average discount rate (a) | 4.1% (4.1%) | 4.0% (4.0%) | 4.6% (4.6%) weighted average expected rate of return on plan assets | 7.5% (7.5%) | 7.4% (7.4%) | 7.7% (7.7%) weighted average expected rate of compensation increase | 3.5% (3.5%) | 3.5% (3.5%) | 3.9% (3.9%) (a) effective in 2016, the company began to measure the service cost and interest cost components of pension expense by applying spot rates along the yield curve to the relevant projected cash flows, as we believe this provides a better measurement of these costs. the company has accounted for this as a change in accounting estimate and, accordingly has accounted for it on a prospective basis. this change does not affect the measurement of the total benefit obligation. 2016 vs. 2015 pension expense, excluding special items, decreased from the prior year due to the adoption of the spot rate approach which reduced service cost and interest cost, the impact from expected return on assets and demographic gains, partially offset by the impact of the adoption of new mortality tables for our major plans. special items of $7.3 included pension settlement losses of $6.4, special termination benefits of $2.0, and curtailment gains of $1.1. these resulted primarily from our recent business restructuring and cost reduction actions. 2015 vs. 2014 the decrease in pension expense, excluding special items, was due to the impact from expected return on assets, a 40 bp reduction in the weighted average compensation increase assumption, and lower service cost and interest cost. the decrease was partially offset by the impact of higher amortization of actuarial losses, which resulted primarily from a 60 bp decrease in weighted average discount rate. special items of $35.2 included pension settlement losses of $21.2, special termination benefits of $8.7, and curtailment losses of $5.3. these resulted primarily from our recent business restructuring and cost reduction actions. 2017 outlook in 2017, pension expense, excluding special items, is estimated to be approximately $70 to $75, an increase of $10 to $15 from 2016, resulting primarily from a decrease in discount rates, offset by favorable asset experience, effects of the versum spin-off and the adoption of new mortality tables. pension settlement losses of $10 to $15 are expected, dependent on the timing of retirements. in 2017, we expect pension expense to include approximately $164 for amortization of actuarial losses compared to $121 in 2016. net actuarial losses of $484 were recognized in accumulated other comprehensive income in 2016, primarily attributable to lower discount rates and improved mortality projections. actuarial gains/losses are amortized into pension expense over prospective periods to the extent they are not offset by future gains or losses. future changes in the discount rate and actual returns on plan assets different from expected returns would impact the actuarial gains/losses and resulting amortization in years beyond 2017. during the first quarter of 2017, the company expects to record a curtailment loss estimated to be $5 to $10 related to employees transferring to versum. the loss will be reflected in the results from discontinued operations on the consolidated income statements. we continue to evaluate opportunities to manage the liabilities associated with our pension plans. pension funding pension funding includes both contributions to funded plans and benefit payments for unfunded plans, which are primarily non-qualified plans. with respect to funded plans, our funding policy is that contributions, combined with appreciation and earnings, will be sufficient to pay benefits without creating unnecessary surpluses. in addition, we make contributions to satisfy all legal funding requirements while managing our capacity to benefit from tax deductions attributable to plan contributions. with the assistance of third party actuaries, we analyze the liabilities and demographics of each plan, which help guide the level of contributions. during 2016 and 2015, our cash contributions to funded plans and benefit payments for unfunded plans were $79.3 and $137.5, respectively. for 2017, cash contributions to defined benefit plans are estimated to be $65 to $85. the estimate is based on expected contributions to certain international plans and anticipated benefit payments for unfunded plans, which. what was the net change in cash contributions to funded plans and benefit payments for unfunded plans from 2015 to 2016? -58.2 what was the value in 2015?

137.5

entergy corporation and subsidiaries management's financial discussion and analysis the decrease in interest income in 2002 was primarily due to: fffd interest recognized in 2001 on grand gulf 1's decommissioning trust funds resulting from the final order addressing system energy's rate proceeding; fffd interest recognized in 2001 at entergy mississippi and entergy new orleans on the deferred system energy costs that were not being recovered through rates; and fffd lower interest earned on declining deferred fuel balances. the decrease in interest charges in 2002 is primarily due to: fffd a decrease of $31.9 million in interest on long-term debt primarily due to the retirement of long-term debt in late 2001 and early 2002; and fffd a decrease of $76.0 million in other interest expense primarily due to interest recorded on system energy's reserve for rate refund in 2001. the refund was made in december 2001. 2001 compared to 2000 results for the year ended december 31, 2001 for u.s. utility were also affected by an increase in interest charges of $61.5 million primarily due to: fffd the final ferc order addressing the 1995 system energy rate filing; fffd debt issued at entergy arkansas in july 2001, at entergy gulf states in june 2000 and august 2001, at entergy mississippi in january 2001, and at entergy new orleans in july 2000 and february 2001; and fffd borrowings under credit facilities during 2001, primarily at entergy arkansas. non-utility nuclear the increase in earnings in 2002 for non-utility nuclear from $128 million to $201 million was primarily due to the operation of indian point 2 and vermont yankee, which were purchased in september 2001 and july 2002, respectively. the increase in earnings in 2001 for non-utility nuclear from $49 million to $128 million was primarily due to the operation of fitzpatrick and indian point 3 for a full year, as each was purchased in november 2000, and the operation of indian point 2, which was purchased in september 2001. following are key performance measures for non-utility nuclear:. - | 2002 | 2001 | 2000 net mw in operation at december 31 | 3955 | 3445 | 2475 generation in gwh for the year | 29953 | 22614 | 7171 capacity factor for the year | 93% (93%) | 93% (93%) | 94% (94%) 2002 compared to 2001 the following fluctuations in the results of operations for non-utility nuclear in 2002 were primarily caused by the acquisitions of indian point 2 and vermont yankee (except as otherwise noted): fffd operating revenues increased $411.0 million to $1.2 billion; fffd other operation and maintenance expenses increased $201.8 million to $596.3 million; fffd depreciation and amortization expenses increased $25.1 million to $42.8 million; fffd fuel expenses increased $29.4 million to $105.2 million; fffd nuclear refueling outage expenses increased $23.9 million to $46.8 million, which was due primarily to a. what was the total of non-utility nuclear earnings by the end of 2002? 201.0 and what was it by the beginning of that year? 128.0 throughout the year, then, by how much did it increase? 73.0 and what was this increase as a percent of the beginning of the year total?

0.57031

our debt issuances in 2014 were as follows: (in millions) type face value (e) interest rate issuance maturity euro notes (a) 20ac750 (approximately $1029) 1.875% (1.875%) march 2014 march 2021 euro notes (a) 20ac1000 (approximately $1372) 2.875% (2.875%) march 2014 march 2026 euro notes (b) 20ac500 (approximately $697) 2.875% (2.875%) may 2014 may 2029 swiss franc notes (c) chf275 (approximately $311) 0.750% (0.750%) may 2014 december 2019 swiss franc notes (b) chf250 (approximately $283) 1.625% (1.625%) may 2014 may 2024 u.s. dollar notes (d) $500 1.250% (1.250%) november 2014 november 2017 u.s. dollar notes (d) $750 3.250% (3.250%) november 2014 november 2024 u.s. dollar notes (d) $750 4.250% (4.250%) november 2014 november 2044 (a) interest on these notes is payable annually in arrears beginning in march 2015. (b) interest on these notes is payable annually in arrears beginning in may 2015. (c) interest on these notes is payable annually in arrears beginning in december 2014. (d) interest on these notes is payable semiannually in arrears beginning in may 2015. (e) u.s. dollar equivalents for foreign currency notes were calculated based on exchange rates on the date of issuance. the net proceeds from the sale of the securities listed in the table above will be used for general corporate purposes. the weighted-average time to maturity of our long-term debt was 10.8 years at the end of 2013 and 2014. 2022 off-balance sheet arrangements and aggregate contractual obligations we have no off-balance sheet arrangements, including special purpose entities, other than guarantees and contractual obligations discussed below. guarantees 2013 at december 31, 2014, we were contingently liable for $1.0 billion of guarantees of our own performance, which were primarily related to excise taxes on the shipment of our products. there is no liability in the consolidated financial statements associated with these guarantees. at december 31, 2014, our third-party guarantees were insignificant.. type | - | face value (e) | interest rate | issuance | maturity euro notes | (a) | 20ac750 (approximately $1029) | 1.875% (1.875%) | march 2014 | march 2021 euro notes | (a) | 20ac1000 (approximately $1372) | 2.875% (2.875%) | march 2014 | march 2026 euro notes | (b) | 20ac500 (approximately $697) | 2.875% (2.875%) | may 2014 | may 2029 swiss franc notes | (c) | chf275 (approximately $311) | 0.750% (0.750%) | may 2014 | december 2019 swiss franc notes | (b) | chf250 (approximately $283) | 1.625% (1.625%) | may 2014 | may 2024 u.s. dollar notes | (d) | $500 | 1.250% (1.250%) | november 2014 | november 2017 u.s. dollar notes | (d) | $750 | 3.250% (3.250%) | november 2014 | november 2024 u.s. dollar notes | (d) | $750 | 4.250% (4.250%) | november 2014 | november 2044 our debt issuances in 2014 were as follows: (in millions) type face value (e) interest rate issuance maturity euro notes (a) 20ac750 (approximately $1029) 1.875% (1.875%) march 2014 march 2021 euro notes (a) 20ac1000 (approximately $1372) 2.875% (2.875%) march 2014 march 2026 euro notes (b) 20ac500 (approximately $697) 2.875% (2.875%) may 2014 may 2029 swiss franc notes (c) chf275 (approximately $311) 0.750% (0.750%) may 2014 december 2019 swiss franc notes (b) chf250 (approximately $283) 1.625% (1.625%) may 2014 may 2024 u.s. dollar notes (d) $500 1.250% (1.250%) november 2014 november 2017 u.s. dollar notes (d) $750 3.250% (3.250%) november 2014 november 2024 u.s. dollar notes (d) $750 4.250% (4.250%) november 2014 november 2044 (a) interest on these notes is payable annually in arrears beginning in march 2015. (b) interest on these notes is payable annually in arrears beginning in may 2015. (c) interest on these notes is payable annually in arrears beginning in december 2014. (d) interest on these notes is payable semiannually in arrears beginning in may 2015. (e) u.s. dollar equivalents for foreign currency notes were calculated based on exchange rates on the date of issuance. the net proceeds from the sale of the securities listed in the table above will be used for general corporate purposes. the weighted-average time to maturity of our long-term debt was 10.8 years at the end of 2013 and 2014. 2022 off-balance sheet arrangements and aggregate contractual obligations we have no off-balance sheet arrangements, including special purpose entities, other than guarantees and contractual obligations discussed below. guarantees 2013 at december 31, 2014, we were contingently liable for $1.0 billion of guarantees of our own performance, which were primarily related to excise taxes on the shipment of our products. there is no liability in the consolidated financial statements associated with these guarantees. at december 31, 2014, our third-party guarantees were insignificant.. what is the value of euro notes with march 2021 maturities? 1029.0 what is the value with march 2026 maturities? 1372.0 what is the sum?

2401.0

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 27, 2013 and october 28, 2012 was as follows: 2013 2012 (in millions, except percentages). - | 2013 | 2012 | - | (in millions except percentages) silicon systems group | $1295 | 55% (55%) | $705 | 44% (44%) applied global services | 591 | 25% (25%) | 580 | 36% (36%) display | 361 | 15% (15%) | 206 | 13% (13%) energy and environmental solutions | 125 | 5% (5%) | 115 | 7% (7%) total | $2372 | 100% (100%) | $1606 | 100% (100%) 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. 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. 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: $1.3 billion (18 percent of net sales) in fiscal 2013, $1.2 billion (14 percent of net sales) in fiscal 2012, and $1.1 billion (11 percent of net sales) in fiscal 2011. applied has spent an average of 14 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.. what was the change in rd&e spendings from 2013 to 2014?

0.1

to, rather than as a substitute for, cash provided by operating activities. the following table reconciles cash provided by operating activities (gaap measure) to free cash flow (non-gaap measure):. millions | 2015 | 2014 | 2013 cash provided by operating activities | $7344 | $7385 | $6823 cash used in investing activities | -4476 (4476) | -4249 (4249) | -3405 (3405) dividends paid | -2344 (2344) | -1632 (1632) | -1333 (1333) free cash flow | $524 | $1504 | $2085 2016 outlook f0b7 safety 2013 operating a safe railroad benefits all our constituents: our employees, customers, shareholders and the communities we serve. we will continue using a multi-faceted approach to safety, utilizing technology, risk assessment, quality control, training and employee engagement, and targeted capital investments. we will continue using and expanding the deployment of total safety culture and courage to care throughout our operations, which allows us to identify and implement best practices for employee and operational safety. we will continue our efforts to increase detection of rail defects; improve or close crossings; and educate the public and law enforcement agencies about crossing safety through a combination of our own programs (including risk assessment strategies), industry programs and local community activities across our network. f0b7 network operations 2013 in 2016, we will continue to align resources with customer demand, continue to improve network performance, and maintain our surge capability. f0b7 fuel prices 2013 with the dramatic drop in fuel prices during 2015, fuel price projections continue to be uncertain in the current environment. we again could see volatile fuel prices during the year, as they are sensitive to global and u.s. domestic demand, refining capacity, geopolitical events, weather conditions and other factors. as prices fluctuate, there will be a timing impact on earnings, as our fuel surcharge programs trail fluctuations in fuel price by approximately two months. continuing lower fuel prices could have a positive impact on the economy by increasing consumer discretionary spending that potentially could increase demand for various consumer products that we transport. alternatively, lower fuel prices will likely have a negative impact on other commodities such as coal, frac sand and crude oil shipments. f0b7 capital plan 2013 in 2016, we expect our capital plan to be approximately $3.75 billion, including expenditures for ptc, 230 locomotives and 450 freight cars. the capital plan may be revised if business conditions warrant or if new laws or regulations affect our ability to generate sufficient returns on these investments. (see further discussion in this item 7 under liquidity and capital resources 2013 capital plan.) f0b7 financial expectations 2013 economic conditions in many of our market sectors continue to drive uncertainty with respect to our volume levels. we expect volumes to be down slightly in 2016 compared to 2015, but will depend on the overall economy and market conditions. the strong u.s. dollar and historic low commodity prices could also drive continued volatility. one of the biggest uncertainties is the outlook for energy markets, which will bring both challenges and opportunities. in the current environment, we expect continued margin improvement driven by continued pricing opportunities, ongoing productivity initiatives, and the ability to leverage our resources and strengthen our franchise. over the longer term, we expect the overall u.s. economy to continue to improve at a modest pace, with some markets outperforming others.. what was the free cash flow in 2015? 524.0 and what was the cash provided by operating activities in that same year? 7344.0 how much, then, did the first represent in relation to the second?

0.07135

entergy texas, inc. management's financial discussion and analysis fuel and purchased power expenses increased primarily due to an increase in power purchases as a result of the purchased power agreements between entergy gulf states louisiana and entergy texas and an increase in the average market prices of purchased power and natural gas, substantially offset by a decrease in deferred fuel expense as a result of decreased recovery from customers of fuel costs. other regulatory charges increased primarily due to an increase of $6.9 million in the recovery of bond expenses related to the securitization bonds. the recovery became effective july 2007. see note 5 to the financial statements for additional information regarding the securitization bonds. 2007 compared to 2006 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 2007 to 2006. amount (in millions). - | amount (in millions) 2006 net revenue | $403.3 purchased power capacity | 13.1 securitization transition charge | 9.9 volume/weather | 9.7 transmission revenue | 6.1 base revenue | 2.6 other | -2.4 (2.4) 2007 net revenue | $442.3 the purchased power capacity variance is due to changes in the purchased power capacity costs included in the calculation in 2007 compared to 2006 used to bill generation costs between entergy texas and entergy gulf states louisiana. the securitization transition charge variance is due to the issuance of securitization bonds. as discussed above, in june 2007, egsrf i, 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. see note 5 to the financial statements herein for details of the securitization bond issuance. the volume/weather variance is due to increased electricity usage on billed retail sales, including the effects of more favorable weather in 2007 compared to the same period in 2006. the increase is also due to an increase in usage during the unbilled sales period. retail electricity usage increased a total of 139 gwh in all sectors. see "critical accounting estimates" below and note 1 to the financial statements for further discussion of the accounting for unbilled revenues. the transmission revenue variance is due to an increase in rates effective june 2007 and new transmission customers in late 2006. the base revenue variance is due to the transition to competition rider that began in march 2006. refer to note 2 to the financial statements for further discussion of the rate increase. gross operating revenues, fuel and purchased power expenses, and other regulatory charges gross operating revenues decreased primarily due to a decrease of $179 million in fuel cost recovery revenues due to lower fuel rates and fuel refunds. the decrease was partially offset by the $39 million increase in net revenue described above and an increase of $44 million in wholesale revenues, including $30 million from the system agreement cost equalization payments from entergy arkansas. the receipt of such payments is being. what is the net revenue in 2007? 442.3 what about in 2006? 403.3 what os the net change?

39.0

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 . what is the expected annual dividends per share in 2007?

0.96

notes to the consolidated financial statements unrealized currency translation adjustments related to translation of foreign denominated balance sheets are not presented net of tax given that no deferred u.s. income taxes have been provided on undistributed earnings of non- u.s. subsidiaries because they are deemed to be reinvested for an indefinite period of time. the tax (cost) benefit related to unrealized currency translation adjustments other than translation of foreign denominated balance sheets, for the years ended december 31, 2011, 2010 and 2009 was $(7) million, $8 million and $62 million, respectively. the tax benefit related to the adjustment for pension and other postretirement benefits for the years ended december 31, 2011, 2010 and 2009 was $98 million, $65 million and $18 million, respectively. the cumulative tax benefit related to the adjustment for pension and other postretirement benefits at december 31, 2011 and 2010 was $990 million and $889 million, respectively. the tax (cost) benefit related to the change in the unrealized gain (loss) on marketable securities for the years ended december 31, 2011, 2010 and 2009 was $(0.2) million, $0.6 million and $0.1 million, respectively. the tax benefit (cost) related to the change in the unrealized gain (loss) on derivatives for the years ended december 31, 2011, 2010 and 2009 was $19 million, $1 million and $(16) million, respectively. 18. employee savings plan ppg 2019s employee savings plan (201csavings plan 201d) covers substantially all u.s. employees. the company makes matching contributions to the savings plan based upon participants 2019 savings, subject to certain limitations. for most participants not covered by a collective bargaining agreement, company-matching contributions are established each year at the discretion of the company and are applied to a maximum of 6% (6%) of eligible participant compensation. for those participants whose employment is covered by a collective bargaining agreement, the level of company-matching contribution, if any, is determined by the relevant collective bargaining agreement. the company-matching contribution was 100% (100%) for the first two months of 2009. the company-matching contribution was suspended from march 2009 through june 2010 as a cost savings measure in recognition of the adverse impact of the global recession. effective july 1, 2010, the company match was reinstated at 50% (50%) on the first 6% (6%) of compensation contributed for most employees eligible for the company-matching contribution feature. this included the union represented employees in accordance with their collective bargaining agreements. on january 1, 2011, the company match was increased to 75% (75%) on the first 6% (6%) of compensation contributed by these eligible employees. compensation expense and cash contributions related to the company match of participant contributions to the savings plan for 2011, 2010 and 2009 totaled $26 million, $9 million and $7 million, respectively. a portion of the savings plan qualifies under the internal revenue code as an employee stock ownership plan. as a result, the tax deductible dividends on ppg shares held by the savings plan were $20 million, $24 million and $28 million for 2011, 2010 and 2009, respectively. 19. other earnings (millions) 2011 2010 2009. (millions) | 2011 | 2010 | 2009 royalty income | 55 | 58 | 45 share of net earnings (loss) of equity affiliates (see note 5) | 37 | 45 | -5 (5) gain on sale of assets | 12 | 8 | 36 other | 73 | 69 | 74 total | $177 | $180 | $150 total $177 $180 $150 20. stock-based compensation the company 2019s stock-based compensation includes stock options, restricted stock units (201crsus 201d) and grants of contingent shares that are earned based on achieving targeted levels of total shareholder return. all current grants of stock options, rsus and contingent shares are made under the ppg industries, inc. amended and restated omnibus incentive plan (201cppg amended omnibus plan 201d), which was amended and restated effective april 21, 2011. shares available for future grants under the ppg amended omnibus plan were 9.7 million as of december 31, 2011. total stock-based compensation cost was $36 million, $52 million and $34 million in 2011, 2010 and 2009, respectively. the total income tax benefit recognized in the accompanying consolidated statement of income related to the stock-based compensation was $13 million, $18 million and $12 million in 2011, 2010 and 2009, respectively. stock options ppg has outstanding stock option awards that have been granted under two stock option plans: the ppg industries, inc. stock plan (201cppg stock plan 201d) and the ppg amended omnibus plan. under the ppg amended omnibus plan and the ppg stock plan, certain employees of the company have been granted options to purchase shares of common stock at prices equal to the fair market value of the shares on the date the options were granted. the options are generally exercisable beginning from six to 48 months after being granted and have a maximum term of 10 years. upon exercise of a stock option, shares of company stock are issued from treasury stock. the ppg stock plan includes a restored option provision for options originally granted prior to january 1, 2003 that 68 2011 ppg annual report and form 10-k. what was the value of stock-based compensation in 2011? 36.0 what was it in 2010?

52.0