REPUBLIC SERVICES, INC.  NOTES TO CONSOLIDATED FINANCIAL STATEMENTS, CONTINUED 2006 Plan prior to December 5, 2008 became fully vested and nonforfeitable upon the closing of the acquisition.
Awards may be granted under the 2006 Plan, as amended and restated, after December 5, 2008 only to employees and consultants of Allied Waste Industries, Inc.  and its subsidiaries who were not employed by Republic Services, Inc.  prior to such date.
At December 31, 2010, there were approximately 15.3 million shares of common stock reserved for future grants under the 2006 Plan.
Stock Options We use a binomial option-pricing model to value our stock option grants.
We recognize compensation expense on a straight-line basis over the requisite service period for each separately vesting portion of the award, or to the employee’s retirement eligible date, if earlier.
Expected volatility is based on the weighted average of the most recent one-year volatility and a historical rolling average volatility of our stock over the expected life of the option.
The risk-free interest rate is based on Federal Reserve rates in effect for bonds with maturity dates equal to the expected term of the option.
We use historical data to estimate future option exercises, forfeitures and expected life of the options.
When appropriate, separate groups of employees that have similar historical exercise behavior are considered separately for valuation purposes.
The weighted-average estimated fair values of stock options granted during the years ended December 31, 2010, 2009 and 2008 were $5.28, $3.79 and $4.36 per option, respectively, which were calculated using the following weighted-average assumptions:
## Table 0 ##
Operating margin decreased 80 basis points in 2016 as the negative impact from foreign currency, increased investments in direct-to-consumer, product development and innovation and restructuring charges more than offset the benefits of favorable pricing and lower product costs.2015 compared to 2014 Global revenues for Outdoor & Action Sports increased 3% in 2015, reflecting 9% operational growth compared to 2014.
The operational growth was partially offset by a negative 6% impact from foreign currency.
The 53rd week in 2014 also negatively impacted 2015 revenue growth.
Revenues in the Americas region increased 8% in 2015, including a 2% negative impact from foreign currency.
Revenues in the Asia Pacific region increased 10% in 2015 despite a 5% negative impact from foreign currency.
European revenues declined 10% in 2015, including a 16% negative impact from foreign currency.
Global direct-to-consumer revenues for Outdoor & Action Sports grew 6% in 2015 over 2014, driven by new store openings and an expanding e-commerce business.
Foreign currency negatively impacted direct-to-consumer revenues by 5% in 2015.
Wholesale revenues were up 1% in 2015, including an 8% negative impact from foreign currency.
Global revenues for The North Face?
brand increased 1% in 2015 over 2014, as operational growth in the direct-to-consumer channel was partially offset by a negative 4% impact from foreign currency.
Sales for The North Face?
brand were negatively impacted by the warm weather in 2015, particularly during the fourth quarter when consumer demand for cold-weather products is typically at its peak.
Vans?
brand global revenues were up 7% in 2015, reflecting operational growth in both the direct-toconsumer and wholesale channels, partially offset by a negative 7% impact from foreign currency.
Global revenues for the Timberland?
brand were up 2% in 2015 driven by strong wholesale revenues, partially offset by a negative 8% impact from foreign currency and reduced consumer demand for outdoor apparel and footwear as a result of the warm weather noted above.
Operating margin decreased 110 basis points in 2015 due to the negative impact from foreign currency and increased investments in direct-to-consumer businesses, partially offset by the leverage of operating expenses on higher revenues.
Jeanswear
## Table 1 ##
The Jeanswear coalition consists of the global jeanswear businesses, led by the Wrangler?
and Lee?
brands.2016 compared to 2015 Global Jeanswear revenues decreased 2% in 2016 compared to 2015, due to a 2% negative impact from foreign currency.
Revenues in the Americas region decreased 2% in 2016, due to a 2% negative impact from foreign currency.
Revenues in the Asia Pacific region decreased 4% in 2016, driven by a 5% negative impact from foreign currency.
European revenues increased 3% in 2016, including a 1% negative impact from foreign currency.
Global revenues for the Wrangler?
brand decreased 1% in 2016, as 1% operational growth, which was tempered by aggressive inventory management by key retailers, was offset by a negative 2% impact from foreign currency.
Global revenues for the Lee?
brand were down 3% in 2016 compared to 2015, primarily driven by a negative 2% impact from foreign currency and softness in the U. S.  mid-tier channel.
Operating margin decreased 120 basis points in 2016 over 2015, primarily due to lower gross margin largely driven by restructuring charges and higher product costs as a result of lower production volumes.2015 compared to 2014 Global Jeanswear revenues were flat in 2015 compared to 2014, reflecting operational growth offset by a negative 4% impact from foreign currency.
The 53rd week in 2014 also negatively impacted 2015 revenue growth.
Revenues in the Americas region increased 1% in 2015, including a 2% negative impact from foreign currency.
Revenues in the Asia Pacific region increased 5% in 2015 despite a 4% negative impact from foreign currency.
European revenues decreased 15% in 2015, including an 18% negative impact from foreign currency.
Global revenues for the Wrangler?
brand were flat in 2015 compared to 2014, as 4% operational growth driven by continued strength in the mass business was offset by a negative 4% impact from foreign currency.
Global revenues for the Lee?
brand were
VF CORPORATION Consolidated Statements of Cash Flows
## Table 2 ##
a) The cash flows related to discontinued operations have not been segregated, and remain included in the major classes of assets and liabilities.
Accordingly, the Consolidated Statements of Cash Flows include the results of continuing and discontinued operations.
See notes to consolidated financial statements.

<table><tr><td></td><td>2010</td><td>2009</td><td>2008</td></tr><tr><td>Expected volatility</td><td>28.6%</td><td>28.7%</td><td>27.3%</td></tr><tr><td>Risk-free interest rate</td><td>2.4%</td><td>1.4%</td><td>1.7%</td></tr><tr><td>Dividend yield</td><td>2.9%</td><td>3.1%</td><td>2.9%</td></tr><tr><td>Expected life (in years)</td><td>4.3</td><td>4.2</td><td>4.2</td></tr><tr><td>Contractual life (in years)</td><td>7</td><td>7</td><td>7</td></tr><tr><td>Expected forfeiture rate</td><td>3.0%</td><td>3.0%</td><td>3.0%</td></tr></table>
<table><tr><td></td><td></td><td></td><td></td><td colspan="2">PercentChange</td></tr><tr><td>Dollars in millions</td><td>2016</td><td>2015</td><td>2014</td><td>2016</td><td>2015</td></tr><tr><td>Coalition revenues</td><td>$2,737.7</td><td>$2,792.2</td><td>$2,801.8</td><td>-2.0%</td><td>-0.3%</td></tr><tr><td>Coalition profit</td><td>491.9</td><td>535.4</td><td>528.0</td><td>-8.1%</td><td>1.4%</td></tr><tr><td>Operating margin</td><td>18.0%</td><td>19.2%</td><td>18.8%</td><td></td><td></td></tr></table>
<table><tr><td></td><td rowspan="2">Year Ended March 2019<sup>(a)</sup></td><td rowspan="2">Three MonthsEnded March(Transition Period) 2018<sup>(a)</sup></td><td colspan="2">Year Ended December</td></tr><tr><td>(In thousands)</td><td>2017<sup>(a)</sup></td><td>2016<sup>(a)</sup></td></tr><tr><td>OPERATING ACTIVITIES</td><td></td><td></td><td></td><td></td></tr><tr><td>Net income</td><td>$1,259,792</td><td>$252,793</td><td>$614,923</td><td>$1,074,106</td></tr><tr><td>Adjustments to reconcile net income to cash provided (used) by operating activities:</td><td></td><td></td><td></td><td></td></tr><tr><td>Impairment of goodwill and intangible assets</td><td>—</td><td>—</td><td>104,651</td><td>79,644</td></tr><tr><td>Depreciation and amortization</td><td>301,005</td><td>71,532</td><td>290,503</td><td>281,577</td></tr><tr><td>Stock-based compensation</td><td>105,157</td><td>25,440</td><td>81,641</td><td>67,762</td></tr><tr><td>Provision for doubtful accounts</td><td>22,553</td><td>2,660</td><td>21,171</td><td>17,283</td></tr><tr><td>Pension expense (less than) in excess of contributions</td><td>-1,850</td><td>1,413</td><td>25,022</td><td>89,005</td></tr><tr><td>Deferred income taxes</td><td>-62,901</td><td>303</td><td>-79,838</td><td>-71,625</td></tr><tr><td>Loss on sale of businesses</td><td>28,262</td><td>18,065</td><td>29,841</td><td>104,357</td></tr><tr><td>Other, net</td><td>-31,612</td><td>-7,148</td><td>-2,006</td><td>-15,232</td></tr><tr><td>Changes in operating assets and liabilities:</td><td></td><td></td><td></td><td></td></tr><tr><td>Accounts receivable</td><td>-373,012</td><td>38,686</td><td>-107,083</td><td>47,102</td></tr><tr><td>Inventories</td><td>-135,099</td><td>-156,292</td><td>17,005</td><td>-37,210</td></tr><tr><td>Accounts payable</td><td>111,678</td><td>-187,553</td><td>21,494</td><td>-9,553</td></tr><tr><td>Income taxes</td><td>-19,974</td><td>-65,234</td><td>460,350</td><td>-129,574</td></tr><tr><td>Accrued liabilities</td><td>484,858</td><td>-172,396</td><td>31,928</td><td>28,904</td></tr><tr><td>Other assets and liabilities</td><td>-24,634</td><td>-65,492</td><td>-34,942</td><td>-45,978</td></tr><tr><td>Cash provided (used) by operating activities</td><td>1,664,223</td><td>-243,223</td><td>1,474,660</td><td>1,480,568</td></tr><tr><td>INVESTING ACTIVITIES</td><td></td><td></td><td></td><td></td></tr><tr><td>Business acquisitions, net of cash received</td><td>-320,405</td><td>—</td><td>-740,541</td><td>—</td></tr><tr><td>Proceeds from sale of businesses, net of cash sold</td><td>430,286</td><td>—</td><td>214,968</td><td>115,983</td></tr><tr><td>Capital expenditures</td><td>-250,634</td><td>-54,374</td><td>-169,553</td><td>-175,840</td></tr><tr><td>Software purchases</td><td>-56,207</td><td>-19,289</td><td>-65,177</td><td>-44,226</td></tr><tr><td>Other, net</td><td>-23,672</td><td>17,673</td><td>-15,948</td><td>-8,331</td></tr><tr><td>Cash used by investing activities</td><td>-220,632</td><td>-55,990</td><td>-776,251</td><td>-112,414</td></tr><tr><td>FINANCING ACTIVITIES</td><td></td><td></td><td></td><td></td></tr><tr><td>Net (decrease) increase in short-term borrowings</td><td>-864,177</td><td>795,908</td><td>686,453</td><td>-421,069</td></tr><tr><td>Payments on long-term debt</td><td>-6,264</td><td>-1,484</td><td>-254,314</td><td>-13,276</td></tr><tr><td>Payment of debt issuance costs</td><td>-2,123</td><td>—</td><td>—</td><td>-6,807</td></tr><tr><td>Proceeds from long-term debt</td><td>—</td><td>—</td><td>—</td><td>951,817</td></tr><tr><td>Purchases of treasury stock</td><td>-150,676</td><td>-250,282</td><td>-1,200,356</td><td>-1,000,468</td></tr><tr><td>Cash dividends paid</td><td>-767,061</td><td>-181,373</td><td>-684,679</td><td>-635,994</td></tr><tr><td>Proceeds from issuance of Common Stock, net of shares withheld for taxes</td><td>199,296</td><td>44,017</td><td>89,893</td><td>48,918</td></tr><tr><td>Cash (used) provided by financing activities</td><td>-1,591,005</td><td>406,786</td><td>-1,363,003</td><td>-1,076,879</td></tr><tr><td>Effect of foreign currency rate changes on cash, cash equivalents and restricted cash</td><td>14,811</td><td>12,220</td><td>2,965</td><td>-6,645</td></tr><tr><td>Net change in cash, cash equivalents and restricted cash</td><td>-132,603</td><td>119,793</td><td>-661,629</td><td>284,630</td></tr><tr><td>Cash, cash equivalents and restricted cash — beginning of period</td><td>689,190</td><td>569,397</td><td>1,231,026</td><td>946,396</td></tr><tr><td>Cash, cash equivalents and restricted cash — end of period</td><td>$556,587</td><td>$689,190</td><td>$569,397</td><td>$1,231,026</td></tr><tr><td>Balances per Consolidated Balance Sheets:</td><td></td><td></td><td></td><td></td></tr><tr><td>Cash and cash equivalents</td><td>$543,011</td><td>$680,762</td><td>$563,483</td><td>$1,224,975</td></tr><tr><td>Other current assets</td><td>3,645</td><td>3,804</td><td>2,452</td><td>2,469</td></tr><tr><td>Current assets of discontinued operations</td><td>—</td><td>2,330</td><td>2,592</td><td>2,887</td></tr><tr><td>Other assets</td><td>9,931</td><td>2,294</td><td>870</td><td>695</td></tr><tr><td>Total cash, cash equivalents and restricted cash</td><td>$556,587</td><td>$689,190</td><td>$569,397</td><td>$1,231,026</td></tr></table>

Question: What is the difference between the greatest Balances per Consolidated Balance Sheets in 2019 and 2018？ (in thousand)
Answer: -137751.0