Table of Contents adjustments that may result from tax examinations.
However, the outcome of tax audits cannot be predicted with certainty.
If any issues addressed in the Company’s tax audits are resolved in a manner not consistent with management’s expectations, the Company could be required to adjust its provision for income taxes in the period such resolution occurs.
Liquidity and Capital Resources The following table presents selected financial information and statistics as of and for the years ended September 28, 2013, September 29, 2012 and September 24, 2011 (in millions):
## Table 0 ##
The Company believes its existing balances of cash, cash equivalents and marketable securities will be sufficient to satisfy its working capital needs, capital asset purchases, outstanding commitments, and other liquidity requirements associated with its existing operations over the next 12 months.
The Company anticipates the cash used for future dividends and the share repurchase program will come from its current domestic cash, cash generated from on-going U. S.  operating activities and from borrowings.
As of September 28, 2013 and September 29, 2012, $111.3 billion and $82.6 billion, respectively, of the Company’s cash, cash equivalents and marketable securities were held by foreign subsidiaries and are generally based in U. S.  dollar-denominated holdings.
Amounts held by foreign subsidiaries are generally subject to U. S.  income taxation on repatriation to the U. S.  The Company’s marketable securities investment portfolio is invested primarily in highly-rated securities and its investment policy generally limits the amount of credit exposure to any one issuer.
The policy requires investments generally to be investment grade with the objective of minimizing the potential risk of principal loss.
During 2013, cash generated from operating activities of $53.7 billion was a result of $37.0 billion of net income, non-cash adjustments to net income of $10.2 billion and an increase in net change in operating assets and liabilities of $6.5 billion.
Cash used in investing activities of $33.8 billion during 2013 consisted primarily of net purchases, sales and maturities of marketable securities of $24.0 billion and cash used to acquire property, plant and equipment of $8.2 billion.
Cash used in financing activities during 2013 consisted primarily of cash used to repurchase common stock of $22.9 billion and cash used to pay dividends and dividend equivalent rights of $10.6 billion, partially offset by net proceeds from the issuance of long-term debt of $16.9 billion.
During 2012, cash generated from operating activities of $50.9 billion was a result of $41.7 billion of net income and non-cash adjustments to net income of $9.4 billion, partially offset by a decrease in net operating assets and liabilities of $299 million.
Cash used in investing activities during 2012 of $48.2 billion consisted primarily of net purchases, sales and maturities of marketable securities of $38.4 billion and cash used to acquire property, plant and equipment of $8.3 billion.
Cash used in financing activities during 2012 of $1.7 billion consisted primarily of cash used to pay dividends and dividend equivalent rights of $2.5 billion.
Capital Assets The Company’s capital expenditures were $7.0 billion during 2013, consisting of $499 million for retail store facilities and $6.5 billion for other capital expenditures, including product tooling and manufacturing process equipment, and other corporate facilities and infrastructure.
The Company’s actual cash payments for capital expenditures during 2013 were $8.2 billion.
The following table summarizes the Company’s major contractual obligations as of December 31, 2006:
## Table 1 ##
(1) Future policyholder benefits include liabilities related to traditional whole life policies, term life policies, closeout and other group annuity contracts, structured settlements, MTF agreements, single premium immediate annuities, long-term disability policies, individual disability income policies, LTC policies and property and casualty contracts.
Included within future policyholder benefits are contracts where the Company is currently making payments and will continue to do so until the occurrence of a specific event such as death as well as those where the timing of a portion of the payments has been determined by the contract.
Also included are contracts where the Company is not currently making payments and will not make payments until the occurrence of an insurable event, such as death or illness, or where the occurrence of the payment triggering event, such as a surrender of a policy or contract, which is outside the control of the Company.
The Company has estimated the timing of the cash flows related to these contracts based on historical experience as well as its expectation of future payment patterns.
Liabilities related to accounting conventions, or which are not contractually due, such as shadow liabilities, excess interest reserves and property and casualty loss adjustment expenses of $1.7 billion have been excluded from amounts presented in the table above.
Amounts presented in the table above, excluding those related to property and casualty contracts, represent the estimated cash payments for benefits under such contracts including assumptions related to the receipt of future premiums and assumptions related to mortality, morbidity, policy lapse, renewal, retirement, inflation, disability incidence, disability terminations, policy loans and other contingent events as appropriate to the respective product type.
Payments for case reserve liabilities and incurred but not reported liabilities associated with property and casualty contracts of $2.2 billion have been included using an estimate of the ultimate amount to be settled under the policies based upon historical payment patterns.
The ultimate amount to be paid under property and casualty contracts is not determined until the Company reaches a settlement with the claimant, which may vary significantly from the liability or contractual obligation presented above especially as it relates to incurred but not reported liabilities.
All estimated cash payments presented in the table above are undiscounted as to interest, net of estimated future premiums on policies currently in-force and gross of any reinsurance recoverable.
The more than five years category displays estimated payments due for periods extending for more than 100 years from the present date.
The sum of the estimated cash flows shown for all years in the table of $321.9 billion exceeds the liability amount of $127.5 billion included on the consolidated balance sheet principally due to the time value of money, which accounts for at least 80% of the difference, as well as differences in assumptions, most significantly mortality, between the date the liabilities were initially established and the current date.
For the majority of the Company’s insurance operations, estimated contractual obligations for future policyholder benefits and policyholder account balance liabilities as presented in the table above are derived from the annual asset adequacy analysis used to develop actuarial opinions of statutory reserve adequacy for state regulatory purposes.
These cash flows are materially representative of the cash flows under generally accepted accounting principles.
Actual cash payments to policyholders may differ significantly from the liabilities as presented in the consolidated balance sheet and the estimated cash payments as presented in the table above due to differences between actual experience and the assumptions used in the establishment of these liabilities and the estimation of these cash payments.
See “— Liquidity and Capital Resources — The Company — Asset/Liability Management.
” (2) Policyholder account balances include liabilities related to conventional guaranteed investment contracts, guaranteed investment contracts associated with formal offering programs, funding agreements, individual and group annuities, total control accounts, bank deposits, individual and group universal life, variable universal life and company owned life insurance.
Included within policyholder account balances are contracts where the amount and timing of the payment is essentially fixed and determinable.
These amounts relate to policies where the Company is currently making payments and will continue to do so, as well as those where the timing of the payments has been determined by the contract.
Other contracts involve payment obligations where the timing of future payments is uncertain and where the Company is not currently making payments and will not make payments until the occurrence of an insurable event, such as death, or where the occurrence of the payment triggering event, such as a surrender of or partial withdrawal on a policy or deposit contract, which is outside the control of the Company.
The Company has estimated the timing of the cash flows related to these contracts based on historical experience as well as its expectation of future payment patterns.
Excess interest reserves representing purchase accounting adjustments of $836 million have been excluded from amounts presented in the table above as they represent an accounting convention and not a contractual obligation.
MetLife, Inc.  Notes to the Consolidated Financial Statements — (Continued) (2) On March 8, 2011, MetLife, Inc.  repurchased and canceled all of the convertible preferred stock.
(3) The Equity Units include the Debt Securities and the Purchase Contracts that will settle in MetLife, Inc. ’s common stock on specified future dates.
See Note 14.
(4) Relates to the cash settlement of intercompany balances prior to the Acquisition for amounts in excess of certain agreed-upon thresholds and certain other adjustments.
(5) Effective settlement of debt securities issued by MetLife, Inc.  that were owned by ALICO on the Acquisition Date and which reduced the total purchase consideration.
Such debt securities were sold to a third party in the second quarter of 2011.
(6) Estimated fair value of potential payments related to the adequacy of reserves for guarantees on the fair value of a fund of assets backing certain United Kingdom (“U.
K. ”) unit-linked contracts.
At the Acquisition Date, management expected the aggregate amount of MetLife, Inc. ’s common stock to be issued to AM Holdings to be between 214.6 million to 231.5 million shares, consisting of 78.2 million shares issued at closing, 68.6 million shares to be issued upon conversion of the convertible preferred stock and between 67.8 million and 84.7 million shares of common stock, in total, issuable upon settlement of the Purchase Contracts forming part of the Equity Units.
On March 8, 2011, MetLife, Inc.  issued 68.6 million shares of common stock and used the gross proceeds to repurchase and cancel the convertible preferred stock.
On the same date, AM Holdings sold, in a public offering, all the Equity Units it received as consideration from MetLife in connection with the Acquisition.
See Notes 14 and 18.
Recording of Assets Acquired and Liabilities Assumed The following table summarizes the amounts recognized at fair value for each major class of assets acquired and liabilities assumed and the resulting goodwill as of the Acquisition Date, inclusive of adjustments made in the first year after the Acquisition Date to the amounts initially recorded (“measurement period adjustments”).
## Table 2 ##
The measurement period adjustments, which related to the finalization of American Life’s current and deferred income tax liability, did not have an impact on the Company’s earnings or cash flows and, therefore, the financial statements were not retrospectively adjusted.
See Note 15.
Goodwill Goodwill is calculated as the excess of the consideration transferred over the net assets recognized and represents the future economic benefits arising from other assets acquired and liabilities assumed that could not be individually identified.
The goodwill recorded as part of the Acquisition includes the expected synergies and other benefits that management believes will result from combining the operations of ALICO with the operations of MetLife, including further diversification in geographic mix and product offerings and an increase in distribution strength.
As of the Acquisition Date, of the $7.0 billion of goodwill, approximately $4.0 billion was estimated to be deductible for tax purposes.
Of the $4.0 billion, approximately $573 million was estimated to be deductible for U. S.  tax purposes prior to the completion of the anticipated restructuring of American Life’s foreign branches.
See “—Branch Restructuring.
” Identified Intangibles VOBA reflects the estimated fair value of in-force contracts acquired and represents the portion of the purchase price that is allocated to the value of future profits embedded in acquired insurance annuity and investment-type contracts in-force at the Acquisition Date.

<table><tr><td></td><td>2013</td><td>2012</td><td>2011</td></tr><tr><td>Cash, cash equivalents and marketable securities</td><td>$146,761</td><td>$121,251</td><td>$81,570</td></tr><tr><td>Property, plant and equipment, net</td><td>$16,597</td><td>$15,452</td><td>$7,777</td></tr><tr><td>Long-term debt</td><td>$16,960</td><td>$0</td><td>$0</td></tr><tr><td>Working capital</td><td>$29,628</td><td>$19,111</td><td>$17,018</td></tr><tr><td>Cash generated by operating activities</td><td>$53,666</td><td>$50,856</td><td>$37,529</td></tr><tr><td>Cash used in investing activities</td><td>$-33,774</td><td>$-48,227</td><td>$-40,419</td></tr><tr><td>Cash generated/(used in) by financing activities</td><td>$-16,379</td><td>$-1,698</td><td>$1,444</td></tr></table>
<table><tr><td> Contractual Obligations</td><td> Total</td><td> Less Than   One Year</td><td> More Than   One Year and   Less Than   Three Years</td><td> More Than   Three Years   and Less   Than Five   Years</td><td> More Than   Five Years</td></tr><tr><td></td><td colspan="5"> (In millions)</td></tr><tr><td>Future policy benefits-1</td><td>$321,852</td><td>$5,982</td><td>$8,864</td><td>$10,160</td><td>$296,846</td></tr><tr><td>Policyholder account balances-2</td><td>176,106</td><td>25,386</td><td>28,884</td><td>23,022</td><td>98,814</td></tr><tr><td>Other policyholder liabilities-3</td><td>10,139</td><td>7,574</td><td>94</td><td>114</td><td>2,357</td></tr><tr><td>Short-term debt-4</td><td>1,457</td><td>1,457</td><td>—</td><td>—</td><td>—</td></tr><tr><td>Long-term debt-4</td><td>18,069</td><td>647</td><td>1,807</td><td>2,147</td><td>13,468</td></tr><tr><td>Junior subordinated debt securities-4</td><td>6,618</td><td>210</td><td>2,440</td><td>214</td><td>3,754</td></tr><tr><td>Shares subject to mandatory redemption-4</td><td>350</td><td>—</td><td>—</td><td>—</td><td>350</td></tr><tr><td>Payables for collateral under securities loaned and other transactions-5</td><td>45,846</td><td>45,846</td><td>—</td><td>—</td><td>—</td></tr><tr><td>Commitments to lend funds-6</td><td>8,934</td><td>7,583</td><td>579</td><td>397</td><td>375</td></tr><tr><td>Operating leases-7</td><td>2,165</td><td>247</td><td>394</td><td>318</td><td>1,206</td></tr><tr><td>Other-8</td><td>7,285</td><td>6,743</td><td>—</td><td>—</td><td>542</td></tr><tr><td>Total</td><td>$598,821</td><td>$101,675</td><td>$43,062</td><td>$36,372</td><td>$417,712</td></tr></table>
<table><tr><td></td><td>November 1, 2010 (In millions)</td></tr><tr><td> Assets acquired:</td><td></td></tr><tr><td>Total investments</td><td>$101,036</td></tr><tr><td>Cash and cash equivalents</td><td>4,175</td></tr><tr><td>Accrued investment income</td><td>948</td></tr><tr><td>Premiums, reinsurance and other receivables</td><td>1,971</td></tr><tr><td>VOBA</td><td>9,210</td></tr><tr><td>Other assets</td><td>1,146</td></tr><tr><td>Separate account assets</td><td>244</td></tr><tr><td>Total assets</td><td>$118,730</td></tr><tr><td> Liabilities assumed:</td><td></td></tr><tr><td>Future policy benefits</td><td>$31,811</td></tr><tr><td>Policyholder account balances</td><td>66,652</td></tr><tr><td>Other policy-related balances</td><td>7,306</td></tr><tr><td>Current and deferred income tax liability</td><td>375</td></tr><tr><td>Other liabilities</td><td>2,918</td></tr><tr><td>Separate account liabilities</td><td>244</td></tr><tr><td>Total liabilities</td><td>$109,306</td></tr><tr><td> Redeemable noncontrolling interests in partially owned consolidated subsidiaries assumed</td><td>$109</td></tr><tr><td>Noncontrolling interests</td><td>-21</td></tr><tr><td>Goodwill</td><td>6,998</td></tr><tr><td>Net assets acquired</td><td>$16,292</td></tr></table>

Question: cash used in investing activities during 2012 was $ 48.2 billion . what percentage of this consisted of cash used to acquire property , plant and equipment?
Answer: 0.1722