contractual obligations and commercial commitments future payments due from garmin , as of december 30 , 2006 , aggregated by type of contractual obligation .

contractual obligations
payments due by period total
payments due by period less than 1 year
payments due by period 1-3 years
payments due by period 3-5 years
payments due by period more than 5 years
operating leases
$ 31145
$ 3357
$ 6271
$ 6040
$ 15477
purchase obligations
$ 265409
$ 265409
$ 0
$ 0
$ 0
total
$ 296554
$ 268766
$ 6271
$ 6040
$ 15477

operating leases describes lease obligations associated with garmin facilities located in the u.s. , taiwan , the u.k. , and canada .
purchase obligations are the aggregate of those purchase orders that were outstanding on december 30 , 2006 ; these obligations are created and then paid off within 3 months during the normal course of our manufacturing business .
off-balance sheet arrangements we do not have any off-balance sheet arrangements .
item 7a .
quantitative and qualitative disclosures about market risk market sensitivity we have market risk primarily in connection with the pricing of our products and services and the purchase of raw materials .
product pricing and raw materials costs are both significantly influenced by semiconductor market conditions .
historically , during cyclical industry downturns , we have been able to offset pricing declines for our products through a combination of improved product mix and success in obtaining price reductions in raw materials costs .
inflation we do not believe that inflation has had a material effect on our business , financial condition or results of operations .
if our costs were to become subject to significant inflationary pressures , we may not be able to fully offset such higher costs through price increases .
our inability or failure to do so could adversely affect our business , financial condition and results of operations .
foreign currency exchange rate risk the operation of garmin 2019s subsidiaries in international markets results in exposure to movements in currency exchange rates .
we generally have not been significantly affected by foreign exchange fluctuations because the taiwan dollar and british pound have proven to be relatively stable .
however , periodically we have experienced significant foreign currency gains and losses due to the strengthening and weakening of the u.s .
dollar .
the potential of volatile foreign exchange rate fluctuations in the future could have a significant effect on our results of operations .
the currencies that create a majority of the company 2019s exchange rate exposure are the taiwan dollar and british pound .
garmin corporation , located in shijr , taiwan , uses the local currency as the functional currency .
the company translates all assets and liabilities at year-end exchange rates and income and expense accounts at average rates during the year .
in order to minimize the effect of the currency exchange fluctuations on our net assets , we have elected to retain most of our taiwan subsidiary 2019s cash and investments in marketable securities denominated in u.s .
dollars .
the td/usd exchange rate decreased 0.7% ( 0.7 % ) during 2006 , which resulted in a cumulative translation adjustment of negative $ 1.2 million at the end of fiscal 2006 and a net foreign currency loss of $ 3.1 million at garmin corporation during 2006. .

Question: considering the payments due to less than a year , what is the percentage of purchase obligations concerning the total expenses?
Answer: 98.75%
Explanation: it is the value of purchase obligations divided by the value of the total expenses .
Calculation: divide(265409, 268766)