see note 8 of the notes to consolidated financial statements in item 8 .
financial statements and supplementary data for a further discussion of these transactions .
capital resources outlook for 2007 international paper expects to be able to meet pro- jected capital expenditures , service existing debt and meet working capital and dividend requirements during 2007 through current cash balances and cash from operations and divestiture proceeds , supple- mented as required by its various existing credit facilities .
international paper has approximately $ 3.0 billion of committed liquidity , which we believe is adequate to cover expected operating cash flow variability during our industry 2019s economic cycles .
in march 2006 , international paper replaced its matur- ing $ 750 million revolving bank credit agreement with a 364-day $ 500 million fully committed revolv- ing bank credit agreement that expires in march 2007 and has a facility fee of 0.08% ( 0.08 % ) payable quarterly , and replaced its $ 1.25 billion revolving bank credit agreement with a $ 1.5 billion fully committed revolv- ing bank credit agreement that expires in march 2011 and has a facility fee of 0.10% ( 0.10 % ) payable quarterly .
in addition , in october 2006 , the company amended its existing receivables securitization program that pro- vides for up to $ 1.2 billion of commercial paper- based financings with a facility fee of 0.20% ( 0.20 % ) and an expiration date in november 2007 , to provide up to $ 1.0 billion of available commercial paper-based financings with a facility fee of 0.10% ( 0.10 % ) and an expira- tion date of october 2009 .
at december 31 , 2006 , there were no borrowings under either of the bank credit agreements or the receivables securitization program .
additionally , international paper investments ( luxembourg ) s.ar.l. , a wholly-owned subsidiary of international paper , has a $ 100 million bank credit agreement maturing in december 2007 , with $ 40 million in borrowings outstanding as of december 31 , 2006 .
the company will continue to rely upon debt and capital markets for the majority of any necessary long-term funding not provided by operating cash flow or divestiture proceeds .
funding decisions will be guided by our capital structure planning and liability management practices .
the primary goals of the company 2019s capital structure planning are to maximize financial flexibility and preserve liquidity while reducing interest expense .
the majority of international paper 2019s debt is accessed through global public capital markets where we have a wide base of investors .
the company was in compliance with all its debt covenants at december 31 , 2006 .
principal financial covenants include maintenance of a minimum net worth , defined as the sum of common stock , paid-in capital and retained earnings , less treasury stock , plus any goodwill impairment charges , of $ 9 billion ; and a maximum total debt to capital ratio , defined as total debt divided by total debt plus net worth , of maintaining an investment grade credit rating is an important element of international paper 2019s financing strategy .
in the third quarter of 2006 , standard & poor 2019s reaffirmed the company 2019s long-term credit rating of bbb , revised its ratings outlook from neg- ative to stable , and upgraded its short-term credit rating from a-3 to a-2 .
at december 31 , 2006 , the company also held long-term credit ratings of baa3 ( stable outlook ) and a short-term credit rating of p-3 from moody 2019s investor services .
contractual obligations for future payments under existing debt and lease commitments and purchase obligations at december 31 , 2006 , were as follows : in millions 2007 2008 2009 2010 2011 thereafter .

in millions
2007
2008
2009
2010
2011
thereafter
total debt ( a )
$ 692
$ 129
$ 1143
$ 1198
$ 381
$ 3680
lease obligations ( b )
144
117
94
74
60
110
purchase obligations ( cd )
2329
462
362
352
323
1794
total
$ 3165
$ 708
$ 1599
$ 1624
$ 764
$ 5584

( a ) total debt includes scheduled principal payments only .
( b ) included in these amounts are $ 76 million of lease obligations related to discontinued operations and businesses held for sale that are due as follows : 2007 - $ 23 million ; 2008 - $ 19 million ; 2009 - $ 15 million ; 2010 - $ 7 million ; 2011 - $ 5 million ; and thereafter - $ 7 million .
( c ) included in these amounts are $ 1.3 billion of purchase obliga- tions related to discontinued operations and businesses held for sale that are due as follows : 2007 - $ 335 million ; 2008 - $ 199 million ; 2009 - $ 157 million ; 2010 - $ 143 million ; 2011 - $ 141 million ; and thereafter - $ 331 million .
( d ) includes $ 2.2 billion relating to fiber supply agreements entered into at the time of the transformation plan forestland sales .
transformation plan in july 2005 , the company had announced a plan to focus its business portfolio on two key global plat- form businesses : uncoated papers ( including dis- tribution ) and packaging .
the plan 2019s other elements include exploring strategic options for other busi- nesses , including possible sale or spin-off , returning value to shareholders , strengthening the balance sheet , selective reinvestment to strengthen the paper .

Question: what percentage of contractual obligations for future payments under existing debt and lease commitments and purchase obligations at december 31 , 2006 due in 2007 is attributable to total debt repayments?
Answer: 22%
Calculation: divide(692, 3165)