in customer financial circumstances and foreign currency fluctuations.
Additionally, the unbilled deferred revenue backlog for multi-year subscription agreements that are billed annually is typically higher at the beginning of the contract period, lower prior to renewal and increases when the agreement is renewed.
Accordingly, fluctuations in unbilled deferred revenue backlog may not be a reliable indicator of future business prospects and the related revenue associated with these contractual commitments.
Cost of Revenue (dollars in millions)
## Table 0 ##
Product Cost of product revenue includes product packaging, third-party royalties, excess and obsolete inventory, amortization related to localization costs, purchased intangibles and acquired rights to use technology and the costs associated with the manufacturing of our products.
Fluctuations in cost of product revenue are due to the following:
## Table 1 ##
Cost of product revenue increased during fiscal 2013 as compared to fiscal 2012 primarily due to an increase in amortization of purchased intangibles and technology license arrangements offset by decreases in cost of sales and excess and obsolete inventory.
Amortization of purchased intangibles and technology license arrangements increased as we entered into certain technology licensing arrangements totaling $51.8 million in the first quarter of fiscal 2013.
Of this cost, an estimated $25.3 million was related to future licensing rights and has been capitalized and will be amortized on a straight-line basis over the estimated useful lives ranging from five to ten years.
We estimated that the remaining cost of approximately $26.5 million was related to historical use of licensing rights and was expensed as cost of product revenue in fiscal 2013.
In connection with certain of these licensing arrangements, we have the ability to acquire additional rights to use technology in the future.
Cost of sales primarily decreased due to the decrease in the number of perpetual units sold and packaging costs associated with our CS6 products.
During May 2013, we announced that, while we will continue to offer and support CS6 products, we plan to focus our future creative development efforts on our Creative Cloud offering.
Excess and obsolete inventory decreased due to decreased reserve requirements for CS6 as we continue to transition to more of a subscription based model.
Cost of product revenue decreased during fiscal 2012 as compared to fiscal 2011 primarily due to decrease in cost of sales and amortization of purchase intangibles, offset by increases in excess and obsolete inventory.
Cost of sales decreased primarily due to a decrease in packaging costs associated with our CS6 products.
Amortization of purchased intangibles decreased primarily due to certain intangible assets purchased through our acquisitions in prior years that were fully amortized in fiscal 2012.
Excess and obsolete inventory increased primarily due to increased reserve requirements for Adobe Creative Suite 5 and Adobe Creative Suite 5.5 products necessitated by the launch of CS6 in the second quarter of fiscal 2012.
Subscription Cost of subscription revenue consists of expenses related to operating our network infrastructure, including depreciation expenses and operating lease payments associated with computer equipment, data center costs, salaries and related expenses of network operations, implementation, account management and technical support personnel, amortization of intangible assets and allocated overhead.
We enter into contracts with third-parties for the use of their data center facilities and our data center costs largely consist of the amounts we pay to these third-parties for rack space, power and similar items.
Table of Contents Transition Taxes Liability As a result of the Tax Act enacted on December 22, 2017, all historical undistributed foreign subsidiary earnings were subject to a mandatory one-time transition tax.
During fiscal 2018, we recorded a transition tax liability of $504 million and other tax liabilities, including state, of $6 million.
Under an election of the Tax Act, the transition tax is payable over eight years beginning in fiscal 2019, with 8% due in each of the first five years, 15% in year six, 20% in year seven, and 25% in year eight.
As we repatriate the undistributed earnings of our foreign subsidiaries for use in the U. S. , the earnings from our foreign subsidiaries will generally not be subject to U. S.  federal tax.
We continuously evaluate the future cash needs of our global operations to determine the amount of foreign earnings that is not necessary to be permanently reinvested in our foreign subsidiaries.
Contractual Obligations The following table summarizes our contractual obligations as of November 30, 2018 (in millions):
## Table 2 ##
Term Loan As of November 30, 2018, our Term Loan’s carrying value was $2.25 billion.
At our election, the Term Loan will bear interest at either (i) the London Interbank Offered Rate (“LIBOR”) plus a margin, based on our debt ratings, ranging from 0.500% to 1.000% or (ii) a base rate plus a margin, based on our debt ratings, ranging from 0.040% to 0.110%.
Interest is payable periodically, in arrears, at the end of each interest period we elect.
Based on the LIBOR rate at November 30, 2018, our estimated maximum commitment for interest payments was $112.8 million for the remaining duration of the Term Loan.
Senior Notes As of November 30, 2018, our outstanding Notes payable consist of the 2020 Notes and 2025 Notes with a total carrying value of $1.88 billion.
Interest on our Notes is payable semi-annually, in arrears on February 1 and August 1.
At November 30, 2018, our maximum commitment for interest payments under the Notes was $275.4 million for the remaining duration of our Notes.
In June 2014, we entered into interest rate swaps that effectively converted the fixed interest rate on our 2020 Notes to a floating interest rate based on LIBOR plus a fixed number of basis points through February 1, 2020.
Covenants Our Term Loan and Revolving Credit Agreement contain similar financial covenants requiring us not to exceed a maximum leverage ratio.
As of November 30, 2018, we were in compliance with the covenants.
We believe these covenants will not impact our credit or cash in the coming fiscal year or restrict our ability to execute our business plan.
Our Notes do not contain any financial covenants.
Under the terms of our Term Loan and Revolving Credit Agreement, we are not prohibited from paying cash dividends unless payment would trigger an event of default or if one currently exists.
We do not anticipate paying any cash dividends in the foreseeable future.
Accounting for Uncertainty in Income Taxes See Results of Operations - Provision for Income Taxes above for our discussion on accounting for uncertainty in income taxes.
Royalties We have certain royalty commitments associated with the licensing of certain offerings and products.
Royalty expense is generally based on a dollar amount per unit sold, or a percentage of the underlying revenue.
Recent and Planned Restaurant Growth During fiscal 2019, we added 39 net new company-owned restaurants in the United States.
Our fiscal 2019 actual restaurant openings and closings, fiscal 2020 projected openings, and approximate capital investment, square footage and dining capacity, by brand, are shown below:
## Table 3 ##
(1) Pro-forma new restaurant data excludes The Capital Burger.
(2) Includes cash investments for building, equipment, furniture and other construction costs; excludes internal capitalized overhead, pre-opening expenses, tenant allowance and future lease obligations.
Olive Garden, LongHorn Steakhouse and Cheddar’s Scratch Kitchen capital investments are based on costs associated with land-only leases; Yard House, The Capital Grille, Seasons 52, Bahama Breeze and Eddie V’s capital investments are based on ground and building leases.
Actual costs can vary significantly depending on the specific location.
(3) Includes all space under the roof, including the coolers and freezers.
(4) Includes bar dining seats and patio seating, but excludes bar stools.
While our objective is to continue to expand all of our restaurant brands, the actual number of openings for each of our brands for fiscal 2020 will depend on many factors, including our ability to locate appropriate sites, negotiate acceptable purchase or lease terms, obtain necessary local governmental permits, complete construction, and recruit and train restaurant management and hourly personnel.
We consider location to be a critical factor in determining a restaurant’s long-term success, and we devote significant effort to the site selection process.
Prior to entering a market, we conduct a thorough study to determine the optimal number and placement of restaurants.
Our site selection process incorporates a variety of analytical techniques to evaluate key factors.
These factors include trade area demographics, such as target population density and household income levels; competitive influences in the trade area; the site’s visibility, accessibility and traffic volume; and proximity to activity centers such as shopping malls, hotel/ motel complexes, offices and universities.
Members of senior management evaluate, inspect and approve each restaurant site prior to its acquisition.
Constructing and opening a new restaurant typically takes approximately 180 days on average after the site is acquired and permits are obtained.
We systematically review the performance of our restaurants to ensure that each one meets our standards.
When a restaurant falls below minimum standards, we conduct a thorough analysis to determine the causes, and implement operational and marketing plans to improve that restaurant’s performance.
If performance does not improve to acceptable levels, the restaurant is evaluated for relocation, closing or conversion to one of our other brands.
Permanent closures are typically due to economic changes in trade areas, the expiration of lease agreements, or site concerns.
Accordingly, we continue to evaluate our site locations in order to minimize the risk of future closures or asset impairment charges.
Restaurant Operations We believe that high-quality restaurant management is critical to our long-term success.
Our restaurant management structure varies by brand and restaurant size.
We issue detailed operations manuals covering all aspects of restaurant operations, as well as food and beverage manuals which detail the preparation procedures of our recipes.
The restaurant management teams are responsible for the day-to-day operation of each restaurant and for ensuring compliance with our operating standards.
Discount Rate—The assumed discount rate is used to determine the current retirement related benefit plan expense and obligations, and represents the interest rate that is used to determine the present value of future cash flows currently expected to be required to effectively settle a plan’s benefit obligations.
The discount rate assumption is determined for each plan by constructing a portfolio of high quality bonds with cash flows that match the estimated outflows for future benefit payments to determine a single equivalent discount rate.
Benefit payments are not only contingent on the terms of a plan, but also on the underlying participant demographics, including current age, and assumed mortality.
We use only bonds that are denominated in U. S.  Dollars, rated Aa or better by two of three nationally recognized statistical rating agencies, have a minimum outstanding issue of $50 million as of the measurement date, and are not callable, convertible, or index linked.
Since bond yields are generally unavailable beyond 30 years, we assume those rates will remain constant beyond that point.
Taking into consideration the factors noted above, our weighted average discount rate for pensions was 5.23% and 5.84%, as of December 31, 2011 and 2010, respectively.
Our weighted average discount rate for other postretirement benefits was 4.94% and 5.58% as of December 31, 2011 and 2010, respectively.
Expected Long-Term Rate of Return—The expected long-term rate of return on assets is used to calculate net periodic expense, and is based on such factors as historical returns, targeted asset allocations, investment policy, duration, expected future long-term performance of individual asset classes, inflation trends, portfolio volatility, and risk management strategies.
While studies are helpful in understanding current trends and performance, the assumption is based more on longer term and prospective views.
In order to reflect expected lower future market returns, we have reduced the expected long-term rate of return assumption from 8.50%, used to record 2011 expense, to 8.00% for 2012.
The decrease in the expected return on assets assumption is primarily related to lower bond yields and updated return assumptions for equities.
Unless plan assets and benefit obligations are subject to remeasurement during the year, the expected return on pension assets is based on the fair value of plan assets at the beginning of the year.
An increase or decrease of 25 basis points in the discount rate and the expected long-term rate of return assumptions would have had the following approximate impacts on pensions:

<table><tr><td></td><td>Fiscal2013</td><td>Fiscal2012</td><td>Fiscal2011</td><td>% Change2013-2012</td><td>% Change2012-2011</td></tr><tr><td>Product</td><td>$138.2</td><td>$121.7</td><td>$125.7</td><td>14%</td><td>-3%</td></tr><tr><td>Percentage of total revenue</td><td>3%</td><td>3%</td><td>3%</td><td></td><td></td></tr><tr><td>Subscription</td><td>278.1</td><td>219.1</td><td>194.0</td><td>27%</td><td>13%</td></tr><tr><td>Percentage of total revenue</td><td>7%</td><td>5%</td><td>5%</td><td></td><td></td></tr><tr><td>Services and support</td><td>170.3</td><td>143.0</td><td>118.2</td><td>19%</td><td>21%</td></tr><tr><td>Percentage of total revenue</td><td>4%</td><td>3%</td><td>3%</td><td></td><td></td></tr><tr><td>Total cost of revenue</td><td>$586.6</td><td>$483.8</td><td>$437.9</td><td>21%</td><td>10%</td></tr></table>
<table><tr><td></td><td>% Change2013-2012</td><td>% Change2012-2011</td></tr><tr><td>Amortization of purchased intangibles and technology license arrangements</td><td>27%</td><td>-1%</td></tr><tr><td>Cost of sales</td><td>-8</td><td>-6</td></tr><tr><td>Excess and obsolete inventory</td><td>-4</td><td>2</td></tr><tr><td>Various individually insignificant items</td><td>-1</td><td>2</td></tr><tr><td>Total change</td><td>14%</td><td>-3%</td></tr></table>
<table><tr><td></td><td colspan="5">Payment Due by Period</td></tr><tr><td></td><td>Total</td><td>Less than1 year</td><td>1-3 years</td><td>3-5 years</td><td>More than5 years</td></tr><tr><td>Notes and Term Loan, including interest</td><td>$4,538.5</td><td>$153.3</td><td>$3,271.2</td><td>$65.0</td><td>$1,049.0</td></tr><tr><td>Operating lease obligations</td><td>666.5</td><td>79.4</td><td>156.1</td><td>119.1</td><td>311.9</td></tr><tr><td>Purchase obligations</td><td>733.8</td><td>346.3</td><td>335.3</td><td>48.2</td><td>4.0</td></tr><tr><td>Total</td><td>$5,938.8</td><td>$579.0</td><td>$3,762.6</td><td>$232.3</td><td>$1,364.9</td></tr></table>
<table><tr><td></td><td colspan="2">Actual - Fiscal 2019</td><td rowspan="2">Projected - Fiscal 2020 New Restaurant Openings</td><td colspan="5">Pro-Forma New Restaurants</td></tr><tr><td></td><td>Restaurant Openings</td><td>Restaurant Closings</td><td colspan="3">Capital InvestmentRange -2(in millions)</td><td>SquareFeet-3</td><td>DiningSeats-4</td></tr><tr><td>Olive Garden</td><td>14</td><td>4</td><td>15 - 18</td><td>$3.5</td><td>-</td><td>$4.5</td><td>7,700</td><td>250</td></tr><tr><td>LongHorn Steakhouse</td><td>13</td><td>3</td><td>13 - 15</td><td>$2.6</td><td>-</td><td>$3.6</td><td>5,660</td><td>190</td></tr><tr><td>Cheddar’s Scratch Kitchen</td><td>5</td><td>—</td><td>4 - 5</td><td>$3.0</td><td>-</td><td>$4.2</td><td>8,000</td><td>272</td></tr><tr><td>Yard House</td><td>7</td><td>—</td><td>4 - 5</td><td>$6.5</td><td>-</td><td>$8.0</td><td>11,000</td><td>360</td></tr><tr><td>The Capital Grille -1</td><td>—</td><td>—</td><td>3 - 4</td><td>$6.0</td><td>-</td><td>$7.0</td><td>9,500</td><td>250</td></tr><tr><td>Seasons 52</td><td>2</td><td>—</td><td>0 - 1</td><td>$5.0</td><td>-</td><td>$6.0</td><td>9,000</td><td>250</td></tr><tr><td>Bahama Breeze</td><td>3</td><td>—</td><td>0 - 1</td><td>$5.0</td><td>-</td><td>$6.0</td><td>9,000</td><td>360</td></tr><tr><td>Eddie V’s</td><td>2</td><td>—</td><td>3 - 4</td><td>$7.5</td><td>-</td><td>$8.5</td><td>10,000</td><td>250</td></tr><tr><td>Totals</td><td>46</td><td>7</td><td>Approximately 50</td><td></td><td></td><td></td><td></td><td></td></tr></table>

Question: Which year has the greatest proportion of Olive Garden for Restaurant Openings? (in million)