15.
DEBT The tables below summarize our outstanding debt at 30 September 2016 and 2015:
## Table 0 ##
The weighted average interest rate of short-term borrowings outstanding at 30 September 2016 and 2015 was 1.1% and .8%, respectively.
Cash paid for interest, net of amounts capitalized, was $121.1 in 2016, $97.5 in 2015, and $132.4 in 2014.
Gas Peak Demand The gas peak demand for firm service customers in CECONY’s service area occurs during the winter heating season.
The daily peak day demand during the winter 2012/2013 (through January 31, 2013) occurred on January 24, 2013 when the demand reached 941 mdths.
The 2012/2013 winter demand included 621 mdths for CECONY’s full-service customers and 320 mdths for customers participating in its gas retail access program.
“Design weather” for the gas system is a standard to which the actual peak demand is adjusted for evaluation and planning purposes.
The company estimates that, under design weather conditions, the 2013/2014 service area peak demand will be 1,274 mdths, including an estimated 689 mdths for its full-service customers and 585 mdths for its retail access customers.
The company forecasts average annual growth of the peak gas demand over the next five years at design conditions to be approximately 4.3 percent in its service area.
The forecasted peak demand at design conditions does not include gas used by interruptible gas customers or in generating stations (electricity and steam).
Gas Supply CECONY and O&R have combined their gas requirements, and contracts to meet those requirements, into a single portfolio.
The combined portfolio is administered by, and related management services are provided by, CECONY (for itself and as agent for O&R) and costs are allocated between the Utilities in accordance with provisions approved by the NYSPSC.
See Note S to the financial statements in Item 8.
Steam Sales and Deliveries CECONY’s steam sales and deliveries for the last five years wer Charges from suppliers for the firm purchase of gas, which are based on formulas or indexes or are subject to negotiation, are generally designed to approximate market prices.
The gas supply contracts are for various terms extending to 2015.
The Utilities have contracts with interstate pipeline companies for the purchase of firm transportation from upstream points where gas has been purchased to the Utilities’ distribution systems, and for upstream storage services.
Charges under these transportation and storage contracts are approved by the FERC.
Such contracts are for various terms extending to 2027.
The Utilities are required to pay certain fixed charges under the supply, transportation and storage contracts whether or not the contracted capacity is actually used.
These fixed charges amounted to approximately $253 million in 2012, including $213 million for CECONY.
See “Contractual Obligations” below.
In addition, the Utilities purchase gas on the spot market and contract for interruptible gas transportation.
See “Recoverable Energy Costs” in Note A to the financial statements in Item 8.
Steam Operations Steam Facilities CECONY’s capitalized costs for utility plant, net of accumulated depreciation for steam facilities were $1,674 million and $1,651 million at December 31, 2012 and 2011, respectively.
CECONY generates steam at one steam-electric generating station and five steam-only generating stations and distributes steam to its customers through approximately 105 miles of transmission, distribution, and service piping.
## Table 1 ##
For further discussion of the company’s steam operating revenues and its steam results, see “Results of Operations” in Item 7.
For additional segment information, see Note N to the financial statements in Item 8 Steam Peak Demand and Capacity Demand for steam in CECONY’s service area peaks during the winter heating season.
The one-hour peak demand during the winter of 2012/2013 (through January 31, 2013) occurred on
McKESSON CORPORATION FINANCIAL REVIEW (Continued) We base the discount rate assumption on current investment yields on high quality fixed-income investments.
A lower discount rate increases the present value of benefit obligations and increases pension expense.
Long-term return on plan assets is determined based on the historical experience of our portfolio and the review of projected returns by asset class on broad, publicly traded equity and fixed-income indices, as well as target asset allocation.
Our target asset allocation is determined based on the risk tolerance characteristics of the plan and, at times, may be adjusted to achieve our overall investment objective.
Our medical trend assumptions are developed based on historical cost data, the near-term outlook and an assessment of likely long-term trend.
Actual results in any given year will often differ from actuarial assumptions because of economic and other factors.
The effects of actual results differing from our assumptions are included in unamortized net gain and loss, which is amortized over future periods.
Sensitivity to changes in the major assumptions for our U. S.  pension and postretirement plans are as follows:
## Table 2 ##
Further information on our pension and postretirement benefit plans is provided in Financial Note 15, “Pension Benefits,” and Note 16, “Other Postretirement Benefits”, to the accompanying consolidated financial statements.
Income Taxes: As discussed in Financial Note 17, “Income Taxes”, we recorded an income tax benefit of $390 million relating to the Securities Litigation in the third quarter of 2005.
We believe the proposed settlement of the consolidated securities class action and the ultimate resolution of the lawsuits brought independently by other shareholders will be tax deductible.
However, the tax attributes of the litigation are complex and the Company expects challenges from the taxing authorities, and accordingly such deductions will not be finalized until all the lawsuits are concluded and an examination of the Company’s tax returns is completed.
Accordingly, we have provided a reserve of $85 million for future resolution of these uncertain tax matters.
While we believe the tax reserve is adequate, the ultimate resolution of these tax matters may exceed or be below the reserve.
We are subject to income taxes in the U. S.  and numerous foreign jurisdictions.
Significant judgment is required in determining the estimated worldwide provision for income taxes.
During the ordinary course of business, there are many transactions and calculations for which the ultimate tax determination is uncertain.
We recognize liabilities for anticipated tax audit issues based on estimates of whether additional amounts will be due.
As of March 31, 2005, approximately $242 million has been accrued for such matters.
To the extent that the final tax outcome of these matters is different from the amounts that were initially recorded, such differences will impact the income tax provision in the period in which such determination is made.
On October 22, 2004, the American Jobs Creation Act of 2004 (the “AJCA”) was signed into law.
The AJCA provides a new deduction for certain qualified domestic production activities.
As discussed in Financial Note 1, “New Accounting Pronouncements”, to the accompanying consolidated financial statements, we are currently evaluating whether a tax deduction on qualified production activities provided by the AJCA may be available to us and the impact of FSP No.
FAS 109-1, “Application of FASB Statement No.109, Accounting for Income Taxes, to the Tax Deduction on Qualified Production Activities Provided by the American Jobs Creation Act of 2004” on our consolidated financial statements.
We will recognize the tax benefit of such deductions, if any, beginning in 2006.
In addition, the AJCA provides a one-time 85% dividends received deduction for certain foreign earnings that are repatriated under a plan for reinvestment in the United States, provided certain criteria are met.
We are also evaluating the effects of the repatriation provision and the impact of FSP No.
FAS 109-2, “Accounting and Disclosure Guidance for the Foreign Earnings Repatriation Provision within the American Jobs Creation Act of 2004” on our consolidated financial statements.
We expect to complete this evaluation before the end of 2006.
The range of possible amounts of unremitted earnings that is being considered for repatriation under this provision is between zero and $500 million.
The related potential range of income tax is between zero and $27.7 million.

<table><tr><td>30 September</td><td>2016</td><td>2015</td></tr><tr><td>Short-term borrowings</td><td>$935.8</td><td>$1,494.3</td></tr><tr><td>Current portion of long-term debt</td><td>371.3</td><td>435.6</td></tr><tr><td>Long-term debt</td><td>4,918.1</td><td>3,949.1</td></tr><tr><td>Total Debt</td><td>$6,225.2</td><td>$5,879.0</td></tr><tr><td>Short-term Borrowings</td><td></td><td></td></tr><tr><td>30 September</td><td>2016</td><td>2015</td></tr><tr><td>Bank obligations</td><td>$133.1</td><td>$234.3</td></tr><tr><td>Commercial paper</td><td>802.7</td><td>1,260.0</td></tr><tr><td>Total Short-term Borrowings</td><td>$935.8</td><td>$1,494.3</td></tr></table>
<table><tr><td></td><td colspan="5">Year Ended December 31,</td></tr><tr><td></td><td> 2008</td><td> 2009</td><td> 2010</td><td>2011</td><td>2012</td></tr><tr><td> Steam Sold (MMlbs)</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>General</td><td>533</td><td>544</td><td>515</td><td>519</td><td>425</td></tr><tr><td>Apartment house</td><td>6,936</td><td>6,725</td><td>5,748</td><td>5,779</td><td>5,240</td></tr><tr><td>Annual power</td><td>16,507</td><td>15,748</td><td>16,767</td><td>16,024</td><td>14,076</td></tr><tr><td> Total Steam Delivered to CECONY Customers</td><td>23,976</td><td>23,017</td><td>23,030</td><td>22,322</td><td>19,741</td></tr><tr><td> Steam Sold ($ in millions)</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>General</td><td>$23</td><td>$28</td><td>$25</td><td>$28</td><td>$25</td></tr><tr><td>Apartment house</td><td>186</td><td>165</td><td>158</td><td>175</td><td>158</td></tr><tr><td>Annual power</td><td>468</td><td>446</td><td>457</td><td>487</td><td>429</td></tr><tr><td>Other operating revenues</td><td>30</td><td>22</td><td>16</td><td>-7</td><td>-16</td></tr><tr><td> Total Steam Delivered to CECONY Customers</td><td>$707</td><td>$661</td><td>$656</td><td>$683</td><td>$596</td></tr><tr><td> Average Revenue per Mlb Sold</td><td>$28.24</td><td>$27.76</td><td>$27.79</td><td>$30.91</td><td>$31.00</td></tr></table>
<table><tr><td></td><td></td><td colspan="2">Pension Plans</td><td colspan="2"> Other Postretirement</td></tr><tr><td><i>(In millions)</i></td><td> Percentage  Point  Change</td><td> Projected  Benefit  Obligation</td><td>Expense</td><td> Projected  Benefit  Obligation</td><td> Expense</td></tr><tr><td>Long-term return on assets</td><td>+/- 1.0 pt</td><td>$—</td><td>$3.2/-3.2</td><td>$—</td><td>$—</td></tr><tr><td>Discount rate</td><td>+/- 1.0 pt</td><td>-35.6/39.4</td><td>-3.2/ 3.2</td><td>-14.8/15.9</td><td>-4.3/4.5</td></tr></table>

Question: considering the year 2016 , what is the short-term debt as a percent of total debt?
Answer: 0.20997