Operating Profit Operating profit decreased 7% in 2004 and increased 5% in 2003.
The decrease in operating profit in 2004 was due to $33.0 million of restructuring and other charges, $53.7 million of higher marketing, administrative and development expenses, an increase in petrochemical-related raw material costs, reduced sales volumes in the Company’s North American food packaging business, offset by an increase in total net sales, all of which are discussed above.
The 5% increase in 2003 was primarily due to increased net sales offset by increased cost and expenses associated with higher sales volumes, increased raw material costs and the impact of foreign currency translation.
As a percentage of net sales, operating profit was 13.2% in 2004, 15.3% in 2003 and 16.1% in 2002.
Operating profit by business segment for 2004, 2003 and 2002 was as follows (dollars in millions):
## Table 0 ##
The food packaging segment contributed 59%, 65% and 61% of the Company’s operating profit in 2004, 2003 and 2002, respectively, before taking into consideration unallocated corporate operating expenses and restructuring and other (charges) credits.
The Company’s protective packaging segment contributed the balance of operating profit.
The decrease in the food packaging segment’s operating profit in 2004 was due to higher raw material costs and reduced sales volumes in North America due to import restrictions on U. S.  beef products.
Although the protective packaging segment was also impacted by higher raw materials costs, operating profit increased for the protective packaging segment in 2004 due to higher unit volumes, benefits from ongoing productivity initiatives and price increases implemented to help offset rising raw material costs.
Asbestos Settlement and Related Costs On November 27, 2002, the Company reached an agreement in principle with the appropriate parties to resolve all current and future asbestos-related claims made against the Company and its affiliates in connection with the Cryovac transaction.
The settlement will also resolve the fraudulent transfer claims, as well as indemnification claims by Fresenius Medical Care Holdings, Inc.  and affiliated companies, that had been made against the Company in connection with the Cryovac transaction.
On December 3, 2002, the Company’s Board of Directors approved the agreement in principle.
The Company received notice that both of the Committees had approved the agreement in principle as of December 5, 2002.
For a description of the Cryovac transaction, asbestos-related claims and the parties involved, see Note 19 of the Notes to the Consolidated Financial Statements under the captions ‘‘Cryovac Transaction’’ and ‘‘Contingencies Related to the Cryovac Transaction.
’’ The Company recorded a charge of $850.1 million as a result of the asbestos settlement in its consolidated statement of operations for the year ended December 31, 2002.
The charge consisted of the following items: ?
a non-cash charge of $512.5 million covering a cash payment that the Company will be required under the settlement to make upon the effectiveness of a plan of reorganization in the Grace bankruptcy.
Because the Company cannot predict when a plan of reorganization may become
SEALED AIR CORPORATION AND SUBSIDIARIES Notes to Consolidated Financial Statements (Continued) (Amounts in tables in millions, except share and per share data) Note 4 Global Manufacturing Strategy, Restructuring and Other Charges (Continued) Other Restructuring Charges In 2007, the Company recorded $0.9 million of restructuring charges, net, primarily for severance costs incurred in connection with the Company’s consolidation of its customer service activities in North America.
In 2006, the Company recorded $1.1 million of restructuring charges of which $0.6 million related to severance costs incurred in connection with the Company’s consolidation of its food packaging customer service activities in Canada and $0.5 million was related to a series of profit improvement plans in various geographic regions of its food packaging segment implemented in 2004.
In 2005, the Company recorded restructuring charges of $1.7 million also related to the profit improvement plans implemented in 2004.
Note 5 Available-for-Sale Investments The following table summarizes the Company’s available-for-sale investments classified as non-current assets that are carried at fair market value in the consolidated balance sheet at December 31, 2007:
## Table 1 ##
The auction rate securities that the Company has invested in are typically re-auctioned every seven to twenty-eight days.
However, as a result of liquidity conditions affecting capital markets, particularly in the U. S. , specifically for asset-backed securities, every auction for the securities held by the Company over the last several months of 2007 failed.
Due to the failed auctions, the Company has recognized unrealized losses in other comprehensive income of $3.9 million ($2.4 million net of taxes) for the reduction in fair market value of these securities at December 31, 2007.
The Company believes that the decline in fair market value is indicative of the severe pressure from the sub-prime lending collapse that began during the second half of 2007, rather than specific concerns with respect to the issuers of the auction rate securities in which the Company has invested or the securities themselves.
The auction rate securities in which the Company has invested consist of debt instruments and perpetual preferred securities.
At December 31, 2007, Moody’s Investors Service’s ratings of these securities ranged from Aa to Aaa and Standard and Poor’s ratings ranged from AA to AAA.
The Company believes that the gross unrealized losses on these securities are temporary in nature and the Company has the intent and, it believes, the ability to hold these securities until they have recovered their cost basis.
The Company currently anticipates that the market for these securities will be re-established within 18 months of December 31, 2007, but it is possible that a recovery may occur beyond this time period.
The Company believes that it has sufficient liquidity to meet its operating cash needs without the sale of these securities.
As a result of the factors discussed above, the Company has classified these investments as non-current assets on the consolidated balance sheet at December 31, 2007.
At December 31, 2006, the Company’s available-for-sale investments consisted of $33.9 million of auction rate securities, which were investments in preferred stock with no maturity dates and were included in current assets on the consolidated balance sheet at December 31, 2006.
The fair value of these investments was equal to their cost.
preferred stock was convertible into 0.885 shares of the Company’s common stock.
These authorizations comprised a single program, which had no set expiration date.
As of the close of business on July 31, 2007, the Company had been authorized to repurchase 33,954,294 shares of the Company’s common stock under that program, and it had repurchased 30,969,142 shares (including preferred shares on an as-converted basis), leaving 2,985,152 shares of common stock authorized for repurchase under the program.
On August 9, 2007, the Company announced that its Board of Directors had approved a new share repurchase program, authorizing the Company to repurchase in the aggregate up to 20 million shares of its issued and outstanding common stock.
This new program replaced the Company’s prior share repurchase program discussed above, which was terminated.
Through December 31, 2007, the Company had not repurchased any shares of the Company’s common stock under the new program, leaving the entire 20 million shares of common stock authorized for repurchase under the new program.
The new program has no set expiration date.
Item 6.
Selected Financial Data
## Table 2 ##
(1) The Company recorded charges related to its global manufacturing strategy of $12.2 million in 2007 ($11.1 million in cost of sales, $0.3 million of operating expenses and $0.8 million of restructuring charges) and $15.6 million in 2006 ($11.8 million of restructuring charges and $3.8 million in cost of sales).
See Note 4, ‘‘Global Manufacturing Strategy, Restructuring and Other Charges,’’ of Notes to Consolidated Financial Statements for further discussion.
In the fourth quarter of 2004, the Company incurred restructuring and other charges of $33.0 million relating to its global profit improvement initiatives, which were implemented to improve the Company’s operating efficiencies and cost structure.
(2) The Company incurred losses of $32.2 million in 2004 and $33.6 million in 2003 due to debt redemptions and repurchases.
(3) In February 2007, the Company’s Board of Directors declared a two-for-one stock split effected in the form of a stock dividend.
All per share data has been restated to reflect the two-for-one stock split except shareholders’ equity.
See Note 18, ‘‘Net Earnings Per Common Share,’’ of Notes to Consolidated Financial Statements, for the reconciliation of the basic and diluted earnings per common share computations
Contractual Obligations The following table presents a summary of our future obligations (in millions) under the terms of existing operating leases and other contractual cash purchase commitments at December 31, 2013.
Other purchase commitments include contractual amounts that will be due for the purchase of goods or services to be used in our operations and may be cancelable at earlier times than those indicated, under certain conditions that may involve termination fees.
Because these obligations are generally of a normal recurring nature, we expect that we will fund them from future cash flows from operations.
The information presented does not include operating expenses or capital expenditures that will be committed in the normal course of operations in 2014 and future years.
The information also excludes the $4.8 million of uncertain tax positions discussed in Note 8 to our consolidated financial statements because it is not possible to estimate the time period in which a payment might be made to the tax authorities.

<table><tr><td></td><td colspan="3">Year Ended December 31,</td></tr><tr><td></td><td>2004</td><td>2003</td><td>2002</td></tr><tr><td>Food Packaging Segment</td><td>$319.3</td><td>$349.2</td><td>$320.6</td></tr><tr><td>Protective Packaging Segment</td><td>217.6</td><td>191.8</td><td>202.7</td></tr><tr><td>Total segments</td><td>536.9</td><td>541.0</td><td>523.3</td></tr><tr><td>Restructuring and other (charges) credits</td><td>-33.0</td><td>0.5</td><td>1.3</td></tr><tr><td>Unallocated corporate operating expenses</td><td>-0.9</td><td>-0.6</td><td>-7.6</td></tr><tr><td>Total</td><td>$503.0</td><td>$540.9</td><td>$517.0</td></tr></table>
<table><tr><td> </td><td> Cost</td><td>Gross Unrealized Losses</td><td> Estimated Fair Market Value</td></tr><tr><td>Auction rate securities:</td><td></td><td></td><td></td></tr><tr><td>Debt instruments with contractual maturity dates in 2021, 2033, and 2036</td><td>$24.7</td><td>$-0.7</td><td>$24.0</td></tr><tr><td>Preferred stock with no maturity dates</td><td>20.0</td><td>-3.2</td><td>16.8</td></tr><tr><td>Total</td><td>$44.7</td><td>$-3.9</td><td>$40.8</td></tr></table>
<table><tr><td> </td><td> 2007</td><td> 2006</td><td> 2005</td><td> 2004</td><td> 2003</td></tr><tr><td> </td><td colspan="5"> (In millions, except per share data)  </td></tr><tr><td> Consolidated Statements of Operations Data:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Net sales</td><td>$4,651.2</td><td>$4,327.9</td><td>$4,085.1</td><td>$3,798.1</td><td>$3,531.9</td></tr><tr><td>Gross profit-1</td><td>1,301.1</td><td>1,240.1</td><td>1,158.0</td><td>1,162.1</td><td>1,112.8</td></tr><tr><td>Operating profit-1</td><td>549.3</td><td>526.1</td><td>510.4</td><td>503.0</td><td>540.9</td></tr><tr><td>Earnings before income tax provision-2</td><td>456.0</td><td>400.1</td><td>376.6</td><td>322.9</td><td>376.9</td></tr><tr><td>Net earnings</td><td>353.0</td><td>274.1</td><td>255.8</td><td>215.6</td><td>240.4</td></tr><tr><td>Net earnings per common share-3:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Basic</td><td>$2.21</td><td>$1.70</td><td>$1.56</td><td>$1.29</td><td>$1.11</td></tr><tr><td>Diluted</td><td>$1.89</td><td>$1.47</td><td>$1.35</td><td>$1.13</td><td>$0.99</td></tr><tr><td> Common stock dividends paid-4</td><td>$64.6</td><td>$48.6</td><td>$—</td><td>$—</td><td>$—</td></tr><tr><td>Series A convertible preferred stock dividends-5</td><td>$—</td><td>$—</td><td>$—</td><td>$—</td><td>$28.6</td></tr><tr><td>  Consolidated Balance Sheet Data:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Cash and cash equivalents</td><td>$430.3</td><td>$373.1</td><td>$455.8</td><td>$358.0</td><td>$297.8</td></tr><tr><td>Total assets</td><td>5,438.3</td><td>5,020.9</td><td>4,864.2</td><td>4,855.0</td><td>4,704.1</td></tr><tr><td>Working capital</td><td>194.5</td><td>350.6</td><td>161.9</td><td>307.4</td><td>280.4</td></tr><tr><td>Long-term debt, less current portion-5(6)</td><td>1,531.6</td><td>1,826.6</td><td>1,813.0</td><td>2,088.0</td><td>2,259.8</td></tr><tr><td>Total shareholders' equity-4</td><td>2,019.6</td><td>1,654.8</td><td>1,392.1</td><td>1,333.5</td><td>1,123.6</td></tr><tr><td>  Other Data:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>EBIT-7</td><td>$596.6</td><td>$548.1</td><td>$526.3</td><td>$476.6</td><td>$512.9</td></tr><tr><td>Depreciation and amortization</td><td>166.3</td><td>168.0</td><td>174.6</td><td>179.5</td><td>173.2</td></tr><tr><td>EBITDA-7</td><td>762.9</td><td>716.1</td><td>700.9</td><td>656.1</td><td>686.1</td></tr><tr><td>Capital expenditures-8</td><td>210.8</td><td>167.9</td><td>96.9</td><td>102.7</td><td>124.3</td></tr></table>

Question: In the year with lowest amount of Food Packaging Segment, what's the increasing rate of Net sales for Consolidated Statements of Operations Data?
Answer: 0.07556