Other Revenues Refund of Deepwater Gulf of Mexico Royalties We have recorded a refund of $86 million attributable to royalties that we previously paid on production of approximately 900 MBbls of crude oil and 3,000 MMcf of natural gas that was produced from January 1, 2003 through July 31, 2009 in the deepwater Gulf of Mexico.
We have requested a refund from the MMS and anticipate receiving the monies in early 2010.
Interest of $11 million related to the refund has been recorded in interest income.
See Item 8.
Financial Statements and Supplementary Data – Note 2.
Summary of Significant Accounting Policies.
Other Other revenues include electricity sales and gathering, marketing and processing revenues.
See Electricity Sales and Expense below.
See Item 8.
Financial Statements and Supplementary Data – Note 2.
Summary of Significant Accounting Policies.
Costs and Expenses Production Costs Production costs were as follows:
## Table 0 ##
(1) Other international includes China and Argentina (through February 2008).
(2) Lease operating expense includes oil and gas operating costs (labor, fuel, repairs, replacements, saltwater disposal and other related lifting costs) and workover and repair expense.
(3) Consolidated unit rates exclude sales volumes and costs attributable to equity method investees.
Lease operating expense remained flat overall in 2009 as compared with 2008.
In the US, we initiated cost savings initiatives which included reduced repair programs and a reduction of other discretionary spending in our onshore US operations, including a reduced workover program in the Northern region.
Lease operating expense increased in West Africa due to higher contractor costs.
Lease operating expense decreased in the North Sea due to lower sales volumes.
A higher volume of crude oil was inventoried, resulting in a deferral of production cost.
Lease operating expense increased by $49 million, or 15%, in 2008 as compared with 2007.
The increase was the result of higher costs related to the continuing active drilling program in the Rocky Mountains and Mid-continent areas of our US operations and increased workover activity in the Piceance basin, Wattenberg field, and Mid-continent and Gulf Coast areas of our US operations.
North Sea oil and gas operating costs increased due to expanded operations and higher costs at the Dumbarton development.
Costs were also driven up by industry inflation resulting from the high level of exploration and production activities in 2008.
Production and ad valorem tax expense decreased by $72 million, or 43%, in 2009 as compared with 2008 due to reduced proceeds from sales attributable to lower commodity prices in the US and China and the cessation of production due to the sale of our interest in Argentina in 2008.
Production and ad valorem tax expense increased by $52 million, or 46%, in 2008 as compared with 2007 due to higher commodity prices and also by an increase in volumes subject to such taxes, mainly in the Northern region of our US operations.
Transportation expense increased by $2 million, or 4%, in 2009 as compared with 2008 due to the start up of a new interstate crude oil transportation pipeline system used to market our Wattenberg production and offset by lower sales volumes in the North Sea.
Transportation expense increased by $5 million, or 10%, in 2008 as compared with
repayment and general corporate purposes.
The repatriation increased US tax expense by $13 million, of which $9 million was recorded in 2008.
Repatriation of additional earnings in the future could result in a decrease in our net income and cash flows.
Our effective tax rate increased in 2008 compared to 2007 primarily due to the fact that pre-tax earnings increased by a proportionately greater amount than our excludible permanent differences.
In addition, there was a rate increase due to (1) a partial shift of taxable income from lower rate jurisdictions such as Equatorial Guinea and Israel to higher rate jurisdictions, (2) the recording of US deferred taxes on the anticipated repatriation of a portion of our foreign earnings, and (3) the recording of an impairment for a foreign asset on which the tax benefit was offset by a valuation allowance.
See Item 8.
Financial Statements and Supplementary Data – Note 9.
Income Taxes.
PROVED RESERVES We have historically added reserves through our exploration program, development activities, and acquisitions of producing properties.
(See Items 1.  and 2.  Business and Properties).
Changes in proved reserves were as follows:
## Table 1 ##
Revisions Revisions represent changes in previous reserves estimates, either upward or downward, resulting from new information normally obtained from development drilling and production history or resulting from a change in economic factors, such as commodity prices, operating costs, or development costs.
Revisions at year-end 2009 included reclassifications of proved undeveloped reserves to probable reserves as a result of the SEC’s new five year development rule and lower natural gas prices, partially offset by higher crude oil prices.
Revisions at year-end 2008 were primarily due to lower year-end 2008 commodity prices.
Revisions at year-end 2007 included positive revisions resulting from an increase in crude oil prices, additional production allowance related to LNG sales in Equatorial Guinea, and both positive and negative changes due to well performance.
Extensions, Discoveries and Other Additions These are additions to proved reserves that result from (1) extension of the proved acreage of previously discovered reservoirs through additional drilling in periods subsequent to discovery and (2) discovery of new fields with proved reserves or of new reservoirs of proved reserves in old fields.
In 2009, US additions were primarily driven by the execution of low-risk development projects onshore in the Wattenberg and Piceance areas, as well as from the sanctioning of the Galapagos development in the deepwater Gulf of Mexico.
International additions related primarily to the initial recording of reserves at the Aseng oil project in West Africa.
In 2008, additions were due to infill drilling activities in the Northern region of our US operations, other US development programs and drilling in China.
In 2007, additions were due to infill drilling activities in the Northern region and drilling activities in the deepwater Gulf of Mexico and North Sea.
We expect that a significant portion of future reserve additions will come from our major development projects at Aseng, Tamar and Gunflint; from continued drilling in the Northern region of our US operations; and from new discoveries resulting from our active exploration programs in the deepwater Gulf of Mexico and international locations.
We may also purchase proved properties in strategic acquisitions.
See Operating Outlook – Major Development Project Inventory, above and Acquisition, Capital and Other Exploration Expenditures, below.
Purchases We occasionally enhance our asset portfolio with strategic acquisitions of producing properties.
In 2008 we acquired producing properties in western Oklahoma.
See Operating Outlook – Pending Asset Acquisition and Item 8.
Financial Statements and Supplementary Data – Note 4.
Acquisitions and Divestitures.
Sales We maintain an ongoing portfolio optimization program.
In 2008, we sold our Argentina asset.
See Items 1.  and 2.  Business and Properties and Item 8.
Financial Statements and Supplementary Data – Note 4.
Acquisitions and Divestitures.
Production See Oil, Gas and NGL Sales above.
See Operating Outlook – Pending Asset Acquisition, above, for a discussion of the pending acquisition of additional US Rocky Mountain assets, which we expect to add approximately 53 MMBoe of proved reserves in 2010.
See also Critical Accounting Policies and Estimates – Reserves, below, and Item 8.
Financial Statements and Supplementary Data – Supplemental Oil and Gas Information (Unaudited).
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS competitive environment and general economic and business conditions, among other factors.
Pullmantur is a brand targeted primarily at the Spanish, Portuguese and Latin American markets and although Pullmantur has diversified its passenger sourcing over the past few years, Spain still represents Pullmantur’s largest market.
As previously disclosed, during 2012 European economies continued to demonstrate instability in light of heightened concerns over sovereign debt issues as well as the impact of proposed austerity measures on certain markets.
The Spanish economy was more severely impacted than many other economies and there is significant uncertainty as to when it will recover.
In addition, the impact of the Costa Concordia incident has had a more lingering effect than expected and the impact in future years is uncertain.
These factors were identified in the past as significant risks which could lead to the impairment of Pullmantur’s goodwill.
More recently, the Spanish economy has progressively worsened and forecasts suggest the challenging operating environment will continue for an extended period of time.
The unemployment rate in Spain reached 26% during the fourth quarter of 2012 and is expected to rise further in 2013.
The International Monetary Fund, which had projected GDP growth of 1.8% a year ago, revised its 2013 GDP projections downward for Spain to a contraction of 1.3% during the fourth quarter of 2012 and further reduced it to a contraction of 1.5% in January of 2013.
During the latter half of 2012 new austerity measures, such as increases to the Value Added Tax, cuts to benefits, the phasing out of exemptions and the suspension of government bonuses, were implemented by the Spanish government.
We believe these austerity measures are having a larger impact on consumer confidence and discretionary spending than previously anticipated.
As a result, there has been a significant deterioration in bookings from guests sourced from Spain during the 2013 WAVE season.
The combination of all of these factors has caused us to negatively adjust our cash flow projections, especially our closer-in Net Yield assumptions and the expectations regarding future capacity growth for the brand.
Based on our updated cash flow projections, we determined the implied fair value of goodwill for the Pullmantur reporting unit was $145.5 million and recognized an impairment charge of $319.2 million.
This impairment charge was recognized in earnings during the fourth quarter of 2012 and is reported within Impairment of Pullmantur related assets within our consolidated statements of comprehensive income (loss).
There have been no goodwill impairment charges related to the Pullmantur reporting unit in prior periods.
See Note 13.
Fair Value Measurements and Derivative Instruments for further discussion.
If the Spanish economy weakens further or recovers more slowly than contemplated or if the economies of other markets (e. g.  France, Brazil, Latin America) perform worse than contemplated in our discounted cash flow model, or if there are material changes to the projected future cash flows used in the impairment analyses, especially in Net Yields, an additional impairment charge of the Pullmantur reporting unit’s goodwill may be required.
Note 4.
Intangible Assets Intangible assets are reported in other assets in our consolidated balance sheets and consist of the following (in thousands):
## Table 2 ##
During the fourth quarter of 2012, we performed the annual impairment review of our trademarks and trade names using a discounted cash flow model and the relief-from-royalty method.
The royalty rate used is based on comparable royalty agreements in the tourism and hospitality industry.
These trademarks and trade names relate to Pullmantur and we have used a discount rate comparable to the rate used in valuing the Pullmantur reporting unit in our goodwill impairment test.
As described in Note 3.
Goodwill, the continued deterioration of the Spanish economy caused us to negatively adjust our cash flow projections for the Pullmantur reporting unit, especially our closer-in Net Yield assumptions and the timing of future capacity growth for the brand.
Based on our updated cash flow projections, we determined that the fair value of Pullmantur’s trademarks and trade names no longer exceeded their carrying value.
Accordingly, we recognized an impairment charge of approximately $17.4 million to write down trademarks and trade names to their fair value of $204.9 million.
This impairment charge was recognized in earnings during the fourth quarter of 2012 and is reported within Impairment of Pullmantur related assets within our consolidated statements of comprehensive income (loss).
See Note 13.
Fair Value Measurements and Derivative Instruments for further discussion.
If the Spanish economy weakens further or recovers more slowly than contemplated or if the economies of other markets (e. g.  France, Brazil, Latin America)

<table><tr><td></td><td>Total per BOE</td><td>Total</td><td>United States</td><td>West Africa</td><td>Eastern Mediter-ranean</td><td>North Sea</td><td>Other Int'l-1</td></tr><tr><td>(millions, except per unit)</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Year Ended December 31, 2009</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Lease Operating Expense-2</td><td>$5.05</td><td>$372</td><td>$258</td><td>$45</td><td>$9</td><td>$43</td><td>$17</td></tr><tr><td>Production and Ad Valorem Taxes</td><td>1.28</td><td>94</td><td>81</td><td>-</td><td>-</td><td>-</td><td>13</td></tr><tr><td>Transportation Expense</td><td>0.80</td><td>59</td><td>52</td><td>-</td><td>-</td><td>4</td><td>3</td></tr><tr><td>Total Production Costs-3</td><td>$7.13</td><td>$525</td><td>$391</td><td>$45</td><td>$9</td><td>$47</td><td>$33</td></tr><tr><td>Total Production Costs per BOE</td><td></td><td>$7.13</td><td>$9.51</td><td>$2.30</td><td>$1.36</td><td>$17.50</td><td>$10.27</td></tr><tr><td>Year Ended December 31, 2008</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Lease Operating Expense-2</td><td>$4.90</td><td>$371</td><td>$257</td><td>$39</td><td>$9</td><td>$53</td><td>$13</td></tr><tr><td>Production and Ad Valorem Taxes</td><td>2.19</td><td>166</td><td>135</td><td>-</td><td>-</td><td>-</td><td>31</td></tr><tr><td>Transportation Expense</td><td>0.75</td><td>57</td><td>49</td><td>-</td><td>-</td><td>7</td><td>1</td></tr><tr><td>Total Production Costs-3</td><td>$7.84</td><td>$594</td><td>$441</td><td>$39</td><td>$9</td><td>$60</td><td>$45</td></tr><tr><td>Total Production Costs per BOE</td><td></td><td>$7.84</td><td>$10.43</td><td>$2.17</td><td>$1.07</td><td>$14.30</td><td>$15.94</td></tr><tr><td>Year Ended December 31, 2007</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Lease Operating Expense-2</td><td>$4.62</td><td>$322</td><td>$213</td><td>$39</td><td>$8</td><td>$38</td><td>$24</td></tr><tr><td>Production and Ad Valorem Taxes</td><td>1.63</td><td>114</td><td>91</td><td>-</td><td>-</td><td>-</td><td>23</td></tr><tr><td>Transportation Expense</td><td>0.74</td><td>52</td><td>40</td><td>-</td><td>-</td><td>11</td><td>1</td></tr><tr><td>Total Production Costs-3</td><td>$6.99</td><td>$488</td><td>$344</td><td>$39</td><td>$8</td><td>$49</td><td>$48</td></tr><tr><td>Total Production Costs per BOE</td><td></td><td>$6.99</td><td>$8.49</td><td>$2.89</td><td>$1.14</td><td>$9.81</td><td>$12.06</td></tr></table>
<table><tr><td></td><td colspan="3">Year Ended December 31,</td></tr><tr><td></td><td>2009</td><td>2008</td><td>2007</td></tr><tr><td>(MMBOE)</td><td></td><td></td><td></td></tr><tr><td>Proved Reserves Beginning of Year</td><td>864</td><td>880</td><td>835</td></tr><tr><td>Revisions of Previous Estimates</td><td>-64</td><td>-44</td><td>30</td></tr><tr><td>Extensions, Discoveries and Other Additions</td><td>95</td><td>98</td><td>90</td></tr><tr><td>Purchase of Minerals in Place</td><td>2</td><td>15</td><td>-</td></tr><tr><td>Sale of Minerals in Place</td><td>-</td><td>-7</td><td>-2</td></tr><tr><td>Production</td><td>-77</td><td>-78</td><td>-73</td></tr><tr><td>Proved Reserves End of Year</td><td>820</td><td>864</td><td>880</td></tr></table>
<table><tr><td></td><td>2012</td><td>2011</td></tr><tr><td>Indefinite-life intangible asset—Pullmantur trademarks and trade names</td><td>$218,883</td><td>$225,679</td></tr><tr><td>Impairment charge</td><td>-17,356</td><td>—</td></tr><tr><td>Foreign currency translation adjustment</td><td>3,339</td><td>-6,796</td></tr><tr><td>Total</td><td>$204,866</td><td>$218,883</td></tr></table>

Question: what was the percentage decline in the value of the intangible assets from 2011 to 2012
Answer: -0.06404