IRON MOUNTAIN INCORPORATED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) DECEMBER 31, 2013 (In thousands, except share and per share data) 2.
Summary of Significant Accounting Policies (Continued) Flows.
This requirement reduces reported operating cash flows and increases reported financing cash flows.
As a result, net financing cash flows from continuing operations included $919, $1,045 and $2,389 for the years ended December 31, 2011, 2012 and 2013, respectively, from the benefits of tax deductions in excess of recognized compensation cost.
The tax benefit of any resulting excess tax deduction increases the Additional Paid-in Capital (‘‘APIC’’) pool.
Any resulting tax deficiency is deducted from the APIC pool.
Stock Options Under our various stock option plans, options were granted with exercise prices equal to the market price of the stock on the date of grant.
The majority of our options become exercisable ratably over a period of five years from the date of grant and generally have a contractual life of ten years from the date of grant, unless the holder’s employment is terminated sooner.
Certain of the options we issue become exercisable ratably over a period of ten years from the date of grant and have a contractual life of 12 years from the date of grant, unless the holder’s employment is terminated sooner.
As of December 31, 2013, ten-year vesting options represented 7.5% of total outstanding options.
Beginning in 2011, certain of the options we issue become exercisable ratably over a period of three years from the date of grant and have a contractual life of ten years from the date of grant, unless the holder’s employment is terminated sooner.
As of December 31, 2013, three-year vesting options represented 20.5% of total outstanding options.
Our non-employee directors are considered employees for purposes of our stock option plans and stock option reporting.
Options granted to our non-employee directors generally become exercisable one year from the date of grant.
In December 2008, we amended each of the Iron Mountain Incorporated 2002 Stock Incentive Plan, the Iron Mountain Incorporated 1997 Stock Option Plan and the LiveVault Corporation 2001 Stock Incentive Plan (each a ‘‘Plan’’) to provide that any unvested options and other awards granted under each respective Plan shall vest immediately should an employee be terminated by the Company, or terminate his or her own employment for good reason (as defined in each Plan), in connection with a vesting change in control (as defined in each Plan).
The Mimosa Systems, Inc.  2009 Equity Incentive Plan and the Mimosa Systems, Inc.  2003 Stock Plan were similarly amended in June 2010.
A total of 38,917,411 shares of common stock have been reserved for grants of options and other rights under our various stock incentive plans.
The number of shares available for grant at December 31, 2013 was 5,814,061.
The weighted average fair value of options granted in 2011, 2012 and 2013 was $7.42, $7.00 and $7.69 per share, respectively.
These values were estimated on the date of grant using the Black-Scholes option pricing model.
The following table summarizes the weighted average assumptions used for grants in the year ended December 31:
## Table 0 ##
Financing Activities As of December 31, 2018 and 2017, total short-term and long-term debt of the Company on a consolidated basis was $19.8 billion and $18.6 billion, respectively.
We may, from time to time, seek to redeem or repurchase our outstanding debt securities through open market purchases, individually negotiated transactions or otherwise.
Any such actions will depend on prevailing market conditions, our liquidity position and other factors.
The following table sets forth total consolidated borrowings of the Company as of the dates indicated.
## Table 1 ##
(1) Amounts are net of assets under set-off arrangements of $9,095 million and $7,287 million as of December 31, 2018 and 2017, respectively.
(2) Limited and non-recourse borrowing represents mortgage debt of our subsidiaries that has recourse only to real estate investment property.
As of December 31, 2018 and 2017, we were in compliance with all debt covenants related to the borrowings in the table above.
For further information on our short- and long-term debt obligations, see Note 16 to our Consolidated Financial Statements.
Based on the use of proceeds, we classify our borrowings as capital debt, investment-related debt, and debt related to specified businesses.
Capital debt, which is debt utilized to meet the capital requirements of our businesses, was $13.4 billion and $12.0 billion as of December 31, 2018 and 2017, respectively.
Investment-related debt of $3.9 billion and $4.0 billion as of December 31, 2018 and 2017, respectively, consists of debt issued to finance specific investment assets or portfolios of investment assets, the proceeds from which will service the debt.
Specifically, this includes institutional spread lending investment portfolios, assets supporting reserve requirements under Regulation XXX and Guideline AXXX as described below, as well as funding for institutional and insurance company portfolio cash flow timing differences.
Our remaining borrowings are utilized for business funding to meet specific purposes, which may include funding new business acquisition costs associated with our individual annuities business, operating needs associated with hedging our individual annuities products as discussed above and activities associated with our investment management business.
Prudential Financial Borrowings Long-term borrowings are conducted primarily by Prudential Financial.
It borrows these funds to meet its capital and other funding needs, as well as the capital and funding needs of its subsidiaries.
Prudential Financial maintains a shelf registration statement with the SEC that permits the issuance of public debt, equity and hybrid securities.
As a “Well-Known Seasoned Issuer” under SEC rules, Prudential Financial’s shelf registration statement provides for automatic effectiveness upon filing and has no stated issuance capacity.
Prudential Financial’s borrowings increased $1.1 billion from December 31, 2017, driven by the issuance of $1.5 billion of junior subordinated debt and $1 billion of senior debt, partially offset by senior debt maturities of $0.7 billion, redemption of $0.6 billion of junior subordinated debt, and $0.1 billion of retail note maturities.
For more information on long-term debt, see Note 16 to our Consolidated Financial Statements.
Subsidiary Borrowings Subsidiary borrowings principally consist of commercial paper borrowings by Prudential Funding, asset-based financing and real estate investment financing.
Borrowings of our subsidiaries increased $0.2 billion from December 31, 2017 due to an increase in commercial paper outstanding.
QUANTA SERVICES, INC.  AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued) and $25.72, respectively.
During the years ended December 31, 2005, 2006 and 2007, 1.1 million, 1.2 million and 0.7 million shares vested with an approximate fair value at the time of vesting of $8.9 million, $16.9 million and $16.9 million, respectively.
Vested amounts in 2007 include restricted shares that vested under the InfraSource Plans following the Merger.
A summary of the restricted stock activity for the year ended December 31, 2007 is as follows (shares in thousands):
## Table 2 ##
As of December 31, 2007, there was approximately $12.1 million of total unrecognized compensation cost related to unvested restricted stock granted to both employees and non-employees.
That cost is expected to be recognized over a weighted average period of 1.52 years.
Compensation expense is measured based on the fair value of the restricted stock and is recognized on a straight-line basis over the requisite service period, which is the vesting period.
The fair value of the restricted stock is determined based on the number of shares granted and the closing price of Quanta’s common stock on the date of grant.
The adoption of SFAS No.123(R) requires estimating future forfeitures in determining the period expense, rather than recording forfeitures when they occur as previously permitted.
Quanta uses historical data to estimate the forfeiture rate.
The effect of estimating forfeitures in determining the period expense, rather than recording forfeitures as they actually occurred, was not significant.
During the years ended December 31, 2005, 2006 and 2007, Quanta recorded non-cash compensation expense with respect to restricted stock in the amount of $5.0 million, $6.0 million and $7.9 million, respectively, and a related income tax benefit of $1.9 million, $2.4 million and $3.7 million, respectively.
The estimate of unrecognized compensation cost uses the expected forfeiture rate; however, the estimate may not necessarily represent the value that will ultimately be realized as compensation expense.
As of December 31, 2005, unrecognized compensation expense related to unvested shares of restricted stock granted to employees was recorded as deferred compensation in stockholders’ equity.
As part of the adoption of SFAS No.123(R), $6.4 million of deferred compensation was reversed against additional paid-in capital during the first quarter of 2006.
Employee Stock Purchase Plans The 1999 Employee Stock Purchase Plan (the ESPP) was adopted by the Board of Directors of Quanta and was approved by the stockholders of Quanta in May 1999.
The ESPP was terminated during 2005.
The purpose of the ESPP was to provide an incentive for employees of Quanta and any Participating Company (as defined in the ESPP) to acquire or increase a proprietary interest in Quanta through the purchase of shares of Quanta’s common stock.
The ESPP was intended to qualify as an “Employee Stock Purchase Plan” under Section 423 of the Internal Revenue Code of 1986, as amended (the Code).
The provisions of the ESPP were construed in a manner consistent with the requirements of that section of the Code.
The ESPP was administered by a committee, appointed from time to time, by the Board of Directors.
The ESPP was not subject to any of the provisions of the Employee Retirement
our fuel surcharge program; and (iv) fluctuations in electricity prices at our merchant waste-to-energy facilities.
Offsetting these revenue increases were (i) revenue declines resulting from lower recyclable commodity prices; (ii) foreign currency translation, which negatively affected revenues from our Canadian operations; and (iii) revenue declines due to lower volumes.
The following provides further details associated with our period-to-period change in revenues.
Average yield Collection and disposal average yield — This measure reflects the effect on our revenue from the pricing activities of our collection, transfer, landfill and waste-to-energy disposal operations, exclusive of volume changes.
Revenue growth from collection and disposal average yield includes not only base rate changes and environmental and service fee increases, but also (i) certain average price changes related to the overall mix of services, which are due to both the types of services provided and the geographic locations where our services are provided; (ii) changes in average price from new and lost business and (iii) price decreases to retain customers.
Revenue growth from collection and disposal average yield was $262 million, or 2.3%, and $235 million, or 2.1%, for the years ended December 31, 2014 and 2013, respectively.
We experienced growth in all three of our principal collection lines of business in both 2014 and 2013.
The details are as follows (dollars in millions):

<table><tr><td> Weighted Average Assumptions</td><td> 2011</td><td> 2012</td><td> 2013</td></tr><tr><td>Expected volatility</td><td>33.4%</td><td>33.8%</td><td>33.8%</td></tr><tr><td>Risk-free interest rate</td><td>2.40%</td><td>1.24%</td><td>1.13%</td></tr><tr><td>Expected dividend yield</td><td>3%</td><td>3%</td><td>3%</td></tr><tr><td>Expected life</td><td>6.3 years</td><td>6.3 years</td><td>6.3 years</td></tr></table>
<table><tr><td></td><td colspan="3">December 31, 2018</td><td colspan="3">December 31, 2017</td></tr><tr><td></td><td>PrudentialFinancial</td><td>Subsidiaries</td><td>Consolidated</td><td>PrudentialFinancial</td><td>Subsidiaries</td><td>Consolidated</td></tr><tr><td></td><td colspan="6">(in millions)</td></tr><tr><td>General obligation short-term debt:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Commercial paper</td><td>$15</td><td>$727</td><td>$742</td><td>$50</td><td>$500</td><td>$550</td></tr><tr><td>Current portion of long-term debt</td><td>1,100</td><td>499</td><td>1,599</td><td>830</td><td>0</td><td>830</td></tr><tr><td>Subtotal</td><td>1,115</td><td>1,226</td><td>2,341</td><td>880</td><td>500</td><td>1,380</td></tr><tr><td>General obligation long-term debt:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Senior debt</td><td>8,630</td><td>173</td><td>8,803</td><td>8,738</td><td>173</td><td>8,911</td></tr><tr><td>Junior subordinated debt</td><td>7,511</td><td>57</td><td>7,568</td><td>6,566</td><td>56</td><td>6,622</td></tr><tr><td>Surplus notes -1</td><td>0</td><td>341</td><td>341</td><td>0</td><td>840</td><td>840</td></tr><tr><td>Subtotal</td><td>16,141</td><td>571</td><td>16,712</td><td>15,304</td><td>1,069</td><td>16,373</td></tr><tr><td>Total general obligations</td><td>17,256</td><td>1,797</td><td>19,053</td><td>16,184</td><td>1,569</td><td>17,753</td></tr><tr><td>Limited and non-recourse borrowings -2</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Short-term debt</td><td>0</td><td>53</td><td>53</td><td>0</td><td>0</td><td>0</td></tr><tr><td>Current portion of long-term debt</td><td>0</td><td>57</td><td>57</td><td>0</td><td>0</td><td>0</td></tr><tr><td>Long-term debt</td><td>0</td><td>666</td><td>666</td><td>0</td><td>799</td><td>799</td></tr><tr><td>Subtotal</td><td>0</td><td>776</td><td>776</td><td>0</td><td>799</td><td>799</td></tr><tr><td>Total borrowings</td><td>$17,256</td><td>$2,573</td><td>$19,829</td><td>$16,184</td><td>$2,368</td><td>$18,552</td></tr></table>
<table><tr><td></td><td>Shares</td><td> Weighted   Average   Grant Date   Fair Value   (per share)</td></tr><tr><td>Unvested at January 1, 2007</td><td>1,298</td><td>$10.85</td></tr><tr><td>Granted</td><td>434</td><td>$25.72</td></tr><tr><td>Conversion of InfraSource restricted stock to Quanta restricted stock</td><td>183</td><td>$27.39</td></tr><tr><td>Vested</td><td>-732</td><td>$11.98</td></tr><tr><td>Forfeited</td><td>-54</td><td>$17.37</td></tr><tr><td>Unvested at December 31, 2007</td><td>1,129</td><td>$15.84</td></tr></table>

Question: What is the growing rate of Surplus notes -1 in the year with the least Commercial paper?
Answer: 1.40595