Corporate Offices Eastman Chemical Company 100 North Eastman Road P.  O.
Box 511 Kingsport, TN 37662-5075 U. S. A.  http:/ /www.
eastman.
com Stock Transfer Agent and Registrar Inquiries and changes to stockholder accounts should be directed to our transfer agent: American Stock Transfer & Trust Company 59 Maiden Lane New York, NY 10038 In the United States: 800-937-5449 Outside the United States: (1) 212-936-5100 or (1) 718-921-8200 http:/ /www.
amstock.
com Annual Meeting Toy F.  Reid Employee Center Kingsport, Tennessee Thursday, May 5, 2005 11:30 a. m. , (ET) Eastman Stockholder Information 877-EMN-INFO (877-366-4636) http:/ /www.
eastman.
com Annual Report on Form 10-K Copies of the Annual Report on Form 10-K for 2004 are available to stockholders without charge by calling 423-229-5466 or by writing to: Eastman Chemical Company P.  O.
Box 511, Building 226 Kingsport, TN 37662-5075 U. S. A.
This information is also available through Eastman’s World Wide Web address, http:/ /www.
eastman.
com, in the investor information section.
Stock Exchange Listing Eastman Chemical Company common stock is listed and traded on the New York Stock Exchange under the ticker symbol EMN.
Most newspaper stock tables list the Company’s stock as “EmanChm.
” Dividends Quarterly dividends on common stock, if declared by the Board of Directors, are usually paid on or about the first business day of the month following the end of each quarter.
Dividends declared were $1.76 in 2004, 2003 and 2002.
Stockholders of record at year-end 2004: 33,709 Shares outstanding at year-end 2004: 79,336,711 Employees at year-end 2004: 12,000
## Table 0 ##
FORWARD-LOOKING STATEMENTS Certain statements in this Annual Report are forward-looking in nature as defined in the Private Securities Litigation Reform Act of 1995.
These statements and other written and oral forward-looking statements made by the Company from time to time may relate to, among other things, such matters as planned and expected capacity increases and utilization; anticipated capital spending; expected depreciation and amortization; environmental matters; legal proceedings; exposure to, and effects of hedging of, raw material and energy costs and foreign currencies; global and regional economic, political, and business conditions; competition; growth opportunities; supply and demand, volume, price, cost, margin, and sales; earnings, cash flow, dividends, and other expected financial conditions; expectations, strategies, and plans for individual assets and products, businesses, segments, and divisions as well as for the whole of Eastman Chemical Company; cash requirements and uses of available cash; financing plans; pension expenses and funding; credit ratings; anticipated restructuring, divestiture, and consolidation activities; cost reduction and control efforts and targets; integration of acquired businesses; development, production, commercialization, and acceptance of new products, services and technologies and related costs; asset, business and product portfolio changes; and expected tax rates and net interest costs.
These plans and expectations are based upon certain underlying assumptions, including those mentioned with the specific statements.
Such assumptions are in turn based upon internal estimates and analyses of current market conditions and trends, management plans and strategies, economic conditions, and other factors.
These plans and expectations and the assumptions underlying them are necessarily subject to risks and uncertainties inherent in projecting future conditions and results.
Actual results could differ materially from expectations expressed in the forwardlooking statements if one or more of the underlying assumptions and expectations proves to be inaccurate or is unrealized.
Certain important factors that could cause actual results to differ materially from those in the forward-looking statements are included with such forward-looking statements and on pages 62 through 63, “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Forward-Looking Statements and Risk Factors.
”
Entergy Corporation and Subsidiaries Notes to Financial Statements 161 liability to $60 million, and recorded the $2.7 million difference as a credit to interest expense.
The $60 million remaining liability was eliminated upon payment of the cash portion of the purchase price.
As of December 31, 2016, Entergy Louisiana, in connection with the Waterford 3 lease obligation, had a future minimum lease payment (reflecting an interest rate of 8.09%) of $57.5 million, including $2.3 million in interest, due January 2017 that is recorded as long-term debt.
In February 2017 the leases were terminated and the leased assets were conveyed to Entergy Louisiana.
Grand Gulf Lease Obligations In 1988, in two separate but substantially identical transactions, System Energy sold and leased back undivided ownership interests in Grand Gulf for the aggregate sum of $500 million.
The initial term of the leases expired in July 2015.
System Energy renewed the leases for fair market value with renewal terms expiring in July 2036.
At the end of the new lease renewal terms, System Energy has the option to repurchase the leased interests in Grand Gulf or renew the leases at fair market value.
In the event that System Energy does not renew or purchase the interests, System Energy would surrender such interests and their associated entitlement of Grand Gulf’s capacity and energy.
System Energy is required to report the sale-leaseback as a financing transaction in its financial statements.
For financial reporting purposes, System Energy expenses the interest portion of the lease obligation and the plant depreciation.
However, operating revenues include the recovery of the lease payments because the transactions are accounted for as a sale and leaseback for ratemaking purposes.
Consistent with a recommendation contained in a FERC audit report, System Energy initially recorded as a net regulatory asset the difference between the recovery of the lease payments and the amounts expensed for interest and depreciation and continues to record this difference as a regulatory asset or liability on an ongoing basis, resulting in a zero net balance for the regulatory asset at the end of the lease term.
The amount was a net regulatory liability of $55.6 million and $55.6 million as of December 31, 2016 and 2015, respectively.
As of December 31, 2016, System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments (reflecting an implicit rate of 5.13%) that are recorded as long-term debt, as follows:
## Table 1 ##
Incurred Losses and LAE.
The following table presents the incurred losses and LAE for the U. S.  Reinsurance segment for the periods indicated.
## Table 2 ##
Incurred losses increased by 17.2% to $954.5 million in 2014 compared to $814.7 million in 2013, primarily due to the increase in current year attritional losses of $151.5 million resulting primarily from the impact of the increase in premiums earned and less favorable development of $61.2 million on prior years’ attritional losses in 2014 compared to 2013, mainly related to an increase in A&E reserves.
This increase was partially offset by a decrease of $39.3 million in current year catastrophe losses and favorable development of $33.5 million on prior year catastrophe losses in 2014 compared to 2013, mainly related to Superstorm Sandy.
The $12.5 million of current year catastrophe losses in 2014 related to the Japan snowstorm ($7.8 million) and Hurricane Odile ($4.7 million).
The $51.8 million of current year catastrophe losses in 2013 were mainly due to U. S.  Storms ($44.8 million), the European floods ($5.0 million) and the Canadian Floods ($2.0 million).
Incurred losses decreased by 22.4% to $814.7 million in 2013 compared to $1,050.4 million in 2012, primarily due to the decrease in current year catastrophe losses for 2013 (outlined above), partially offset by an increase of $75.0 million in current year attritional losses due to the impact of the increase in premiums earned.
The $372.6 million of current year catastrophe losses for 2012 related to Superstorm Sandy ($289.0 million), U. S.  storms ($59.8 million) and Hurricane Isaac ($23.8 million).
Despite the increase in current year attritional losses, the current year attritional loss ratio decreased 3.2 points due to the continued shift in business to excess of loss contracts which generally have lower attritional losses than pro rata contracts.

<table><tr><td></td><td>High</td><td>Low</td><td>Cash Dividends Declared</td></tr><tr><td>2003</td><td></td><td></td><td></td></tr><tr><td>First Quarter</td><td>$38.40</td><td>$27.89</td><td>$0.44</td></tr><tr><td>Second Quarter</td><td>33.95</td><td>28.82</td><td>0.44</td></tr><tr><td>Third Quarter</td><td>36.60</td><td>31.46</td><td>0.44</td></tr><tr><td>Fourth Quarter</td><td>39.53</td><td>31.46</td><td>0.44</td></tr><tr><td>2004</td><td></td><td></td><td></td></tr><tr><td>First Quarter</td><td>$43.70</td><td>$38.00</td><td>$0.44</td></tr><tr><td>Second Quarter</td><td>46.97</td><td>41.90</td><td>0.44</td></tr><tr><td>Third Quarter</td><td>47.77</td><td>42.19</td><td>0.44</td></tr><tr><td>Fourth Quarter</td><td>58.17</td><td>44.86</td><td>0.44</td></tr></table>
<table><tr><td></td><td>Amount (In Thousands)</td></tr><tr><td>2017</td><td>$17,188</td></tr><tr><td>2018</td><td>17,188</td></tr><tr><td>2019</td><td>17,188</td></tr><tr><td>2020</td><td>17,188</td></tr><tr><td>2021</td><td>17,188</td></tr><tr><td>Years thereafter</td><td>257,812</td></tr><tr><td>Total</td><td>343,752</td></tr><tr><td>Less: Amount representing interest</td><td>309,393</td></tr><tr><td>Present value of net minimum lease payments</td><td>$34,359</td></tr></table>
<table><tr><td></td><td colspan="9">Years Ended December 31,</td></tr><tr><td>(Dollars in millions)</td><td>Current Year</td><td colspan="2">Ratio %/ Pt Change</td><td>Prior Years</td><td colspan="2">Ratio %/ Pt Change</td><td>Total Incurred</td><td colspan="2">Ratio %/ Pt Change</td></tr><tr><td>2014</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Attritional</td><td>$933.3</td><td>47.0%</td><td></td><td>$24.5</td><td>1.2%</td><td></td><td>$957.8</td><td>48.2%</td><td></td></tr><tr><td>Catastrophes</td><td>12.5</td><td>0.6%</td><td></td><td>-15.8</td><td>-0.8%</td><td></td><td>-3.3</td><td>-0.2%</td><td></td></tr><tr><td>Total segment</td><td>$945.8</td><td>47.6%</td><td></td><td>$8.7</td><td>0.4%</td><td></td><td>$954.5</td><td>48.0%</td><td></td></tr><tr><td>2013</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Attritional</td><td>$781.8</td><td>46.7%</td><td></td><td>$-36.7</td><td>-2.2%</td><td></td><td>$745.2</td><td>44.5%</td><td></td></tr><tr><td>Catastrophes</td><td>51.8</td><td>3.1%</td><td></td><td>17.7</td><td>1.1%</td><td></td><td>69.5</td><td>4.2%</td><td></td></tr><tr><td>Total segment</td><td>$833.6</td><td>49.8%</td><td></td><td>$-18.9</td><td>-1.1%</td><td></td><td>$814.7</td><td>48.7%</td><td></td></tr><tr><td>2012</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Attritional</td><td>$706.8</td><td>49.9%</td><td></td><td>$-27.2</td><td>-1.9%</td><td></td><td>$679.6</td><td>48.0%</td><td></td></tr><tr><td>Catastrophes</td><td>372.6</td><td>26.3%</td><td></td><td>-1.8</td><td>-0.1%</td><td></td><td>370.8</td><td>26.2%</td><td></td></tr><tr><td>Total segment</td><td>$1,079.4</td><td>76.2%</td><td></td><td>$-29.0</td><td>-2.0%</td><td></td><td>$1,050.4</td><td>74.2%</td><td></td></tr><tr><td>Variance 2014/2013</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Attritional</td><td>$151.5</td><td>0.3</td><td>pts</td><td>$61.2</td><td>3.4</td><td>pts</td><td>$212.6</td><td>3.7</td><td>pts</td></tr><tr><td>Catastrophes</td><td>-39.3</td><td>-2.5</td><td>pts</td><td>-33.5</td><td>-1.9</td><td>pts</td><td>-72.8</td><td>-4.4</td><td>pts</td></tr><tr><td>Total segment</td><td>$112.2</td><td>-2.2</td><td>pts</td><td>$27.7</td><td>1.5</td><td>pts</td><td>$139.9</td><td>-0.7</td><td>pts</td></tr><tr><td>Variance 2013/2012</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Attritional</td><td>$75.0</td><td>-3.2</td><td>pts</td><td>$-9.5</td><td>-0.3</td><td>pts</td><td>$65.6</td><td>-3.5</td><td>pts</td></tr><tr><td>Catastrophes</td><td>-320.8</td><td>-23.2</td><td>pts</td><td>19.5</td><td>1.2</td><td>pts</td><td>-301.3</td><td>-22.0</td><td>pts</td></tr><tr><td>Total segment</td><td>$-245.8</td><td>-26.4</td><td>pts</td><td>$10.1</td><td>0.9</td><td>pts</td><td>$-235.7</td><td>-25.5</td><td>pts</td></tr><tr><td colspan="2">(Some amounts may not reconcile due to rounding.)</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table>

Question: what portion of the total future minimum lease payment for entergy louisiana will be used for interest payments?
Answer: 0.04