SEAGATE TECHNOLOGY AND ITS PREDECESSOR NOTES TO CONSOLIDATED AND COMBINED FINANCIAL STATEMENTS—(CONTINUED) For the fiscal year ended June 27, 2003, the pro forma information assuming a tax provision based on a separate state return basis is as follows (in millions):
## Table 0 ##
Approximately $115 million of U. S.  income tax benefits related to the exercise of certain employee stock options decreased accrued income taxes and was credited to additional paid-in capital in the period from July 1, 2000 to November 22, 2000.
Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes.
The significant components of the Company’s deferred tax assets and liabilities were as follows:
## Table 1 ##
In connection with the purchase of the operating assets of Seagate Delaware, the Company recorded a $434 million valuation allowance for deferred tax assets.
The $434 million of deferred tax assets subject to the valuation allowance arose primarily as a result of the excess tax basis over the fair values of acquired property, plant and equipment, and liabilities assumed for which the Company expects to receive tax deductions in its U. S.  federal and state income tax returns in future periods.
The Company also recorded $63 million of deferred tax liabilities as a result of the excess of the fair market value of inventory and acquired intangible assets over their related tax bases.
During the fourth quarter of fiscal year 2002, the Company reduced to zero the $104 million net carrying value of long-lived intangibles recorded in connection with the purchase of the operating assets of Seagate Delaware in order to reflect tax benefits recognized by the Company in its U. S.  income tax returns attributable to acquisition related deferred tax assets in accordance with SFAS 109.
Subsequent reductions in the valuation allowance recorded for deferred tax assets in connection with the purchase of the operating assets of Seagate Delaware will result in an income tax benefit when, and if, realized in future periods.
At June 27, 2003, the Company had recorded $74 million of deferred tax assets.
The realization of the deferred tax assets is primarily dependent on the Company generating sufficient U. S.  taxable income in fiscal years 2004 and 2005.
Although realization is not assured, the Company’s management believes that it is more likely than not these deferred tax assets will be realized.
The amount of deferred tax assets considered realizable, however, may increase or decrease, when the Company reevaluates the underlying basis for its estimates of future taxable income.
In fiscal year 2003, the valuation allowance decreased by $70 million.
In fiscal year 2002, the valuation allowance decreased by $20 million.
In the period from November 23, 2000 to June 29, 2001, the valuation allowance increased by $506 million.
In the period from July 1, 2000 to November 22, 2000, the net change in valuation allowance was zero.
Table of Contents SEAGATE TECHNOLOGY NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued) The carrying values and fair values of the Company’s financial instruments are as follows:
## Table 2 ##
Carrying amount and estimated fair value approximated $0.1 million in fiscal year 2004.
There were no foreign currency option contracts in fiscal years 2004 and 2003, and no foreign currency forward exchange contracts in fiscal year 2003.
Derivative Financial Instruments —The Company may enter into foreign currency forward exchange and option contracts to manage exposure related to certain foreign currency commitments, certain foreign currency denominated balance sheet positions and anticipated foreign currency denominated expenditures.
The Company’s policy prohibits it from entering into derivative financial instruments for trading purposes.
During fiscal years 2004, 2003 and 2002, the Company did not enter into any fair value hedges or hedges of net investments in foreign operations.
In the fourth fiscal quarter of 2004, the Company instituted a foreign currency hedging program to protect against the increase in value of foreign currency cash flows resulting from expenses over the next fiscal year.
The Company hedges portions of its forecasted expenses denominated in foreign currencies with forward exchange contracts.
When the U. S.  dollar weakens significantly against the foreign currencies, the increase in value of the future foreign currency expenditure is offset by gains in the value of the forward exchange contracts designated as hedges.
Conversely, as the U. S.  dollar strengthens, the decrease in value of the future foreign currency cash flows is offset by losses in the value of the forward exchange contracts.
As at July 2, 2004, the notional value of the Company’s outstanding currency contracts was approximately $20 million in Singapore dollars and $27 million in Thai baht.
The Company did not have any foreign currency forward exchange or purchased currency option contracts during fiscal years 2003 and 2002.
The Company has both fixed and floating rate debt obligations.
The Company enters into debt obligations to support general corporate purposes including capital expenditures and working capital needs.
The Company has used derivative financial instruments in the form of an interest rate swap agreement to hedge a portion of our floating rate debt obligations.
The Company’s last interest rate swap agreement matured in November 2002, and it currently has no swap agreements.
The Company transacts business in various foreign countries and its primary foreign currency cash flows are in emerging market countries in Asia and in some European countries.
Net foreign currency transaction gains and losses included in the determination of net income (loss) were a gain of $1 million for fiscal year 2004, a gain of $1 million for fiscal year 2003, and a loss of $8 million for fiscal year 2002, respectively.
Table of Contents SEAGATE TECHNOLOGY NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued) As required by SFAS 123(R), management made an estimate of expected forfeitures and is recognizing compensation costs only for those equity awards expected to vest.
Prior to the adoption of SFAS 123(R), the Company presented all tax benefits of deductions resulting from the exercise of stock options as operating cash flows in its statement of cash flows.
In accordance with guidance in SFAS 123(R), the cash flows resulting from excess tax benefits (tax benefits related to the excess of proceeds from employee’s exercises of stock options over the stock-based compensation cost recognized for those options) are classified as financing cash flows.
The Company recorded approximately $44 million of excess tax benefits as a financing cash inflow during the fiscal year ended 2006.
Stock Option Activity The Company issues new common shares upon exercise of stock options.
The following is a summary of option activity for the Company’s stock option plans, including options assumed from Maxtor, for the fiscal year ended June 30, 2006:
## Table 3 ##
The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the quoted price of the Company’s common shares for the 59.1 million options that were in-the-money at June 30, 2006.
The Company issues common shares reserved for issuance under the various stock-based benefit plans upon exercise of options.
During the fiscal years ended 2006, 2005 and 2004, the aggregate intrinsic value of options exercised under the Company’s stock option plans was $228 million, $163 million and $267 million, respectively, determined as of the date of option exercise.
At June 30, 2006, the total compensation cost related to options granted to employees under the Company’s stock option plans (excluding options assumed in the Maxtor acquisition) but not yet recognized was approximately $169 million, net of estimated forfeitures of approximately $27 million.
This cost is being amortized on a straight-line basis over a weighted-average remaining term of approximately 2.6 years and will be adjusted for subsequent changes in estimated forfeitures.
In addition to the stock-based compensation cost not yet recognized under the Company’s stock option plans, the Company has additional stock-based compensation costs related to options assumed in the Maxtor acquisition of approximately $22 million, which will be amortized over a weighted-average period of approximately 1.8 years.
Stock Performance Graph The following graph provides a comparison of five year cumulative total stockholder returns of Teleflex common stock, the Standard & Poor’s (S&P) 500 Stock Index and the S&P 500 Healthcare Equipment & Supply Index.
The annual changes for the five-year period shown on the graph are based on the assumption that $100 had been invested in Teleflex common stock and each index on December 31, 2010 and that all dividends were reinvested.
## Table 4 ##
MARKET PERFORMANCE

<table><tr><td>Income before income taxes</td><td>$660</td></tr><tr><td>Provision for income taxes</td><td>19</td></tr><tr><td>Net Income</td><td>$641</td></tr></table>
<table><tr><td></td><td>June 27, 2003</td><td>June 28, 2002</td></tr><tr><td></td><td colspan="2">(in millions)</td></tr><tr><td> Deferred Tax Assets</td><td></td><td></td></tr><tr><td>Accrued warranty</td><td>$53</td><td>$67</td></tr><tr><td>Inventory valuation accounts</td><td>28</td><td>37</td></tr><tr><td>Receivable reserves</td><td>17</td><td>13</td></tr><tr><td>Accrued compensation and benefits</td><td>48</td><td>81</td></tr><tr><td>Depreciation</td><td>103</td><td>136</td></tr><tr><td>Restructuring allowance</td><td>4</td><td>8</td></tr><tr><td>Other accruals</td><td>37</td><td>37</td></tr><tr><td>Acquisition related items</td><td>2</td><td>60</td></tr><tr><td>Net operating losses and tax credit carry-forwards</td><td>189</td><td>100</td></tr><tr><td>Other assets</td><td>9</td><td>5</td></tr><tr><td>Total Deferred Tax Assets</td><td>490</td><td>544</td></tr><tr><td>Valuation allowance</td><td>-416</td><td>-486</td></tr><tr><td>Net Deferred Tax Assets</td><td>$74</td><td>$58</td></tr><tr><td> As Reported on the Balance Sheet</td><td></td><td></td></tr><tr><td>Other current assets</td><td>$49</td><td>$33</td></tr><tr><td>Other assets, net</td><td>25</td><td>25</td></tr><tr><td>Net Deferred Tax Assets</td><td>$74</td><td>$58</td></tr></table>
<table><tr><td></td><td colspan="2">July 2, 2004</td><td colspan="2">June 27, 2003</td></tr><tr><td></td><td>Carrying amount</td><td>Estimated fair value</td><td>Carrying amount</td><td>Estimated fair value</td></tr><tr><td></td><td colspan="4">(in millions)</td></tr><tr><td>Cash equivalents</td><td>$336</td><td>$336</td><td>$684</td><td>$684</td></tr><tr><td>Short-term investments</td><td>761</td><td>761</td><td>445</td><td>445</td></tr><tr><td>8.0% senior subordinated notes, due 2009</td><td>-400</td><td>-414</td><td>-400</td><td>-433</td></tr><tr><td>Senior Credit Facilities:</td><td></td><td></td><td></td><td></td></tr><tr><td>Libor plus 2% Term Loan B</td><td>-343</td><td>-343</td><td>-348</td><td>-348</td></tr><tr><td>Foreign currency forward exchange contracts -1</td><td>—</td><td>—</td><td>—</td><td>—</td></tr></table>
<table><tr><td> Options</td><td>Number of Shares (in millions)</td><td> Weighted- Average Exercise Price </td><td> Weighted- Average Remaining Contractual Term </td><td> Aggregate Intrinsic Value   (in millions)</td></tr><tr><td>Outstanding at July 1, 2005</td><td>56.2</td><td>$8.32</td><td></td><td></td></tr><tr><td>Granted</td><td>20.6</td><td>18.99</td><td></td><td></td></tr><tr><td>Assumed from Maxtor</td><td>7.1</td><td>16.10</td><td></td><td></td></tr><tr><td>Exercised</td><td>-12.7</td><td>5.35</td><td></td><td></td></tr><tr><td>Forfeitures and cancellations</td><td>-1.0</td><td>13.54</td><td></td><td></td></tr><tr><td>Outstanding at June 30, 2006</td><td>70.2</td><td>$10.21</td><td>6.8</td><td>$735</td></tr><tr><td>Vested and expected to vest at June 30, 2006</td><td>66.0</td><td>$12.34</td><td>6.1</td><td>$714</td></tr><tr><td>Exercisable at June 30, 2006</td><td>29.0</td><td>$9.33</td><td>5.7</td><td>$397</td></tr></table>
<table><tr><td>Company / Index</td><td>2010</td><td>2011</td><td>2012</td><td>2013</td><td>2014</td><td>2015</td></tr><tr><td>Teleflex Incorporated</td><td>100</td><td>117</td><td>138</td><td>185</td><td>229</td><td>266</td></tr><tr><td>S&P 500 Index</td><td>100</td><td>102</td><td>118</td><td>157</td><td>178</td><td>181</td></tr><tr><td>S&P 500 Healthcare Equipment & Supply Index</td><td>100</td><td>99</td><td>116</td><td>148</td><td>187</td><td>199</td></tr></table>

Question: What is the proportion of all Number of Shares that are greater than 0 to the total amount of Number of Shares, in 2005?
Answer: 1.19516