Segment Results Snap-on’s business segments are based on the organization structure used by management for making operating and investment decisions and for assessing performance.
Snap-on’s reportable business segments are: (i) the Commercial & Industrial Group; (ii) the Snap-on Tools Group; (iii) the Repair Systems & Information Group; and (iv) Financial Services.
The Commercial & Industrial Group consists of business operations serving a broad range of industrial and commercial customers worldwide, primarily through direct and distributor channels.
The Snap-on Tools Group consists of business operations primarily serving vehicle service and repair technicians through the company’s worldwide mobile tool distribution channel.
The Repair Systems & Information Group consists of business operations serving other professional vehicle repair customers worldwide, primarily owners and managers of independent repair shops and OEM dealership service and repair shops, through direct and distributor channels.
Financial Services consists of the business operations of Snap-on’s finance subsidiaries.
Snap-on evaluates the performance of its operating segments based on segment revenues, including both external and intersegment net sales, and segment operating earnings.
Snap-on accounts for intersegment sales and transfers based primarily on standard costs with reasonable mark-ups established between the segments.
Identifiable assets by segment are those assets used in the respective reportable segment’s operations.
Corporate assets consist of cash and cash equivalents (excluding cash held at Financial Services), deferred income taxes and certain other assets.
All significant intersegment amounts are eliminated to arrive at Snap-on’s consolidated financial results.
Commercial & Industrial Group
## Table 0 ##
Segment net sales of $1,091.0 million in 2013 decreased $34.9 million, or 3.1%, from 2012 levels; excluding $9.8 million of unfavorable foreign currency translation, organic sales decreased $25.1 million or 2.2%.
The lower year-over-year organic sales primarily reflects a double-digit decline in sales to the military and a low single-digit sales decline in the segment’s European-based hand tools business.
Segment gross profit of $419.5 million in 2013 increased $4.5 million from 2012 levels.
Gross margin of 38.5% in 2013 improved 160 basis points from 36.9% last year primarily due to savings from ongoing RCI initiatives, particularly in Europe, and a $1.1 million decrease in restructuring costs.
Gross profit in 2013 reflects $2.5 million of restructuring costs as compared with $3.6 million of such costs in 2012.
Segment operating expenses of $282.2 million in 2013 decreased $5.5 million from 2012 levels.
The operating expense margin of 25.9% in 2013 increased 30 basis points from 25.6% last year primarily as a result of the lower sales, partially offset by a $4.9 million decrease in restructuring costs.
Restructuring costs included in operating expenses were $0.4 million and $5.3 million in 2013 and 2012, respectively.
As a result of these factors, segment operating earnings of $137.3 million in 2013 increased $10.0 million, or 7.9%, from 2012 levels, including $8.8 million of unfavorable foreign currency effects.
Operating margin (segment operating earnings as a percentage of segment net sales) for the Commercial & Industrial Group of 12.6% in 2013 increased 130 basis points from 11.3% last year.
Operating earnings before financial services of $123.6 million in the fourth quarter of 2013 increased $12.2 million, or 11.0%, as compared to $111.4 million last year.
As a percentage of net sales, operating earnings before financial services of 15.5% in the quarter increased 70 basis points from 14.8% last year.
Financial services operating earnings of $33.0 million on revenue of $47.4 million in the fourth quarter of 2013 compares with operating earnings of $29.3 million on revenue of $42.9 million last year.
The year-over-year increases in both revenue and operating earnings primarily reflect the growth in the company’s financial services portfolio.
Fourth-quarter 2013 operating earnings of $156.6 million, including $6.0 million of unfavorable foreign currency effects, increased $15.9 million, or 11.3%, as compared with operating earnings of $140.7 million last year.
As a percentage of revenues, operating earnings of 18.5% in the fourth quarter of 2013 improved 80 basis points from 17.7% last year.
Interest expense of $14.3 million in the fourth quarter of 2013 compared with interest expense of $14.4 million last year.
See Note 9 to the Consolidated Financial Statements for information on Snap-on’s debt and credit facilities.
Other income (expense) – net was expense of $0.8 million in the fourth quarter of 2013 as compared to income of $0.1 million last year.
See Note 16 to the Consolidated Financial Statements for information on other income (expense) – net.
Snap-on’s effective income tax rate on earnings attributable to Snap-on was 32.1% in the fourth quarter of 2013 and 32.0% in the fourth quarter of 2012.
See Note 8 to the Consolidated Financial Statements for information on income taxes.
Net earnings attributable to Snap-on of $94.5 million, or $1.60 per diluted share, in the fourth quarter of 2013 increased $9.9 million, or $0.17 per diluted share, from 2012 levels.
Net earnings attributable to Snap-on in the fourth quarter of 2012 were $84.6 million or $1.43 per diluted share.
Segment Results Commercial & Industrial Group
## Table 1 ##
Segment net sales of $283.2 million in the fourth quarter of 2013 increased $7.6 million, or 2.8%, from 2012 levels; excluding $2.8 million of unfavorable currency translation, organic sales increased $10.4 million or 3.8%.
The year-over-year organic sales increase is primarily due to a high single-digit sales gain in the segment’s European-based hand tools business along with a double-digit increase in sales of power tools.
These year-over-year sales gains were partially offset by a double-digit decline in sales to the military.
Segment gross profit of $110.3 million in the fourth quarter of 2013 increased $5.3 million from 2012 levels.
Gross margin of 38.9% in the quarter improved 80 basis points from 38.1% last year primarily due to savings from ongoing RCI initiatives, particularly in Europe.
Segment operating expenses of $73.2 million in the fourth quarter of 2013 increased $0.1 million from 2012 levels.
The operating expense margin of 25.8% in the quarter improved 70 basis points from 26.5% last year primarily due to benefits from sales volume leverage.
Item 3: Legal Proceedings Snap-on is involved in various legal matters that are being litigated and/or settled in the ordinary course of business.
Although it is not possible to predict the outcome of these legal matters, management believes that the results of these legal matters will not have a material impact on Snap-on’s consolidated financial position, results of operations or cash flows.
Item 4: Mine Safety Disclosures Not applicable.
PART II Item 5: Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities Snap-on had 55,610,781 shares of common stock outstanding as of 2018 year end.
Snap-on’s stock is listed on the New York Stock Exchange under the ticker symbol “SNA.
” At February 8, 2019, there were 4,704 registered holders of Snap-on common stock.
Issuer Purchases of Equity Securities The following chart discloses information regarding the shares of Snap-on’s common stock repurchased by the company during the fourth quarter of fiscal 2018, all of which were purchased pursuant to the Board’s authorizations that the company has publicly announced.
Snap-on has undertaken stock repurchases from time to time to offset dilution created by shares issued for employee and franchisee stock purchase plans, and equity plans, and for other corporate purposes, as well as when the company believes market conditions are favorable.
The repurchase of Snap-on common stock is at the company’s discretion, subject to prevailing financial and market conditions.
## Table 2 ##
N/A: Not applicable * Subject to further adjustment pursuant to the 1996 Authorization described below, as of December 29, 2018, the approximate value of shares that may yet be purchased pursuant to the outstanding Board authorizations discussed below is $215.7 million.  ?
In 1996, the Board authorized the company to repurchase shares of the company’s common stock from time to time in the open market or in privately negotiated transactions (“the 1996 Authorization”).
The 1996 Authorization allows the repurchase of up to the number of shares issued or delivered from treasury from time to time under the various plans the company has in place that call for the issuance of the company’s common stock.
Because the number of shares that are purchased pursuant to the 1996 Authorization will change from time to time as (i) the company issues shares under its various plans; and (ii) shares are repurchased pursuant to this authorization, the number of shares authorized to be repurchased will vary from time to time.
The 1996 Authorization will expire when terminated by the Board.
When calculating the approximate value of shares that the company may yet purchase under the 1996 Authorization, the company assumed a price of $148.71, $161.00 and $144.25 per share of common stock as of the end of the fiscal 2018 months ended October 27, 2018, November 24, 2018, and December 29, 2018, respectively.  ?
In 2017, the Board authorized the repurchase of an aggregate of up to $500 million of the company’s common stock (“the 2017 Authorization”).
The 2017 Authorization will expire when the aggregate repurchase price limit is met, unless terminated earlier by the Board
UNITED PARCEL SERVICE, INC.  AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued) exercised portion of a stock appreciation right will reduce the share reserve by one share.
Each share issued pursuant to restricted stock and stock units, and restricted performance shares and units, will reduce the share reserve by 2.76 shares.
As of December 31, 2009, management incentive awards, stock options, restricted performance units, and restricted stock units had been granted under the Incentive Compensation Plan.
We had 65.7 million shares available to be issued under the Incentive Compensation Plan as of December 31, 2009.
Management Incentive Awards & Restricted Stock Units Persons earning the right to receive management incentive awards are determined annually by the Compensation Committee of the UPS Board of Directors.
Our management incentive awards program provides that half of the annual management incentive award, with certain exceptions, be made in restricted stock units (“RSUs”), which generally vest over a five-year period.
The other half of the award is in the form of cash or unrestricted shares of class A common stock and is fully vested at the time of grant.
These management incentive awards are generally granted in the fourth quarter of each year.
Upon vesting, RSUs result in the issuance of the equivalent number of UPS class A common shares after required tax withholdings.
Except in the case of death, disability, or retirement, RSUs granted for our management incentive awards generally vest over a five year period with approximately 20% of the award vesting at each anniversary date of the grant.
The entire grant is expensed on a straight-line basis over the requisite service period.
All RSUs granted are subject to earlier cancellation or vesting under certain conditions.
Dividends earned on management incentive award RSUs are reinvested in additional RSUs at each dividend payable date.
We also award RSUs in conjunction with our long-term incentive performance awards program to certain eligible employees.
The RSUs ultimately granted under the long-term incentive performance award will be based upon the achievement of certain performance measures, including growth in consolidated revenue and operating return on invested capital, each year during the performance award cycle, and other measures, including growth in consolidated earnings, over the entire three year performance award cycle.
As of December 31, 2009, we had the following RSUs outstanding, including reinvested dividends:
## Table 3 ##
The fair value of each RSU is the New York Stock Exchange (“NYSE”) closing price on the date of grant.
The weighted-average grant date fair value of RSUs granted during 2009, 2008, and 2007 was $56.57, $46.56, and $74.94, respectively.
The total fair value of RSUs vested was $246, $141, and $145 million in 2009, 2008, and 2007, respectively.
As of December 31, 2009, there was $586 million of total unrecognized compensation cost related to nonvested RSUs.
That cost is expected to be recognized over a weighted average period of 3 years and 4 months.
UNITED PARCEL SERVICE, INC.  AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 88 Certain plans have been aggregated in the “all other multiemployer pension plans” line in the following table, as the contributions to each of these individual plans were not material.
## Table 4 ##
Agreement with the New England Teamsters and Trucking Industry Pension Fund In 2012, we reached an agreement with the New England Teamsters and Trucking Industry Pension Fund ("NETTI Fund"), a multiemployer pension plan in which UPS is a participant, to restructure the pension liabilities for approximately 10,200 UPS employees represented by the Teamsters.
As of December 31, 2015 and 2014, we had $872 and $878 million, respectively, recognized in "other non-current liabilities" on our consolidated balance sheets representing the remaining balance of the NETTI Fund withdrawal liability.
Based on the borrowing rates currently available to the Company for long-term financing of a similar maturity, the fair value of the NETTI Fund withdrawal liability as of December 31, 2015 and 2014 was $841 and $913 million.
We utilized Level 2 inputs in the fair value hierarchy of valuation techniques to determine the fair value of this liability
UNITED PARCEL SERVICE, INC.  AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 96 Capital Lease Obligations We have certain property, plant and equipment subject to capital leases.
Some of the obligations associated with these capital leases have been legally defeased.
The recorded value of our property, plant and equipment subject to capital leases is as follows as of December 31 (in millions):
## Table 5 ##
These capital lease obligations have principal payments due at various dates from 2016 through 3005.
Facility Notes and Bonds We have entered into agreements with certain municipalities to finance the construction of, or improvements to, facilities that support our U. S.  Domestic Package and Supply Chain & Freight operations in the United States.
These facilities are located around airport properties in Louisville, Kentucky; Dallas, Texas; and Philadelphia, Pennsylvania.
Under these arrangements, we enter into a lease or loan agreement that covers the debt service obligations on the bonds issued by the municipalities, as follows: ?
Bonds with a principal balance of $149 million issued by the Louisville Regional Airport Authority associated with our Worldport facility in Louisville, Kentucky.
The bonds, which are due in January 2029, bear interest at a variable rate, and the average interest rates for 2015 and 2014 were 0.03% and 0.05%, respectively.  ?
Bonds with a principal balance of $42 million and due in November 2036 issued by the Louisville Regional Airport Authority associated with our air freight facility in Louisville, Kentucky.
The bonds bear interest at a variable rate, and the average interest rates for 2015 and 2014 were 0.02% and 0.05%, respectively.  ?
Bonds with a principal balance of $29 million issued by the Dallas / Fort Worth International Airport Facility Improvement Corporation associated with our Dallas, Texas airport facilities.
The bonds are due in May 2032 and bear interest at a variable rate, however the variable cash flows on the obligation have been swapped to a fixed 5.11%.  ?
Bonds with a principal balance of $100 million issued by the Delaware County, Pennsylvania Industrial Development Authority associated with our Philadelphia, Pennsylvania airport facilities.
The bonds, which were due in December 2015, had a variable interest rate, and the average interest rates for 2015 and 2014 were 0.02% and 0.04%, respectively.
As of December 2015, these $100 million bonds were repaid in full.  ?
In September 2015, we entered into an agreement with the Delaware County, Pennsylvania Industrial Development Authority, associated with our Philadelphia, Pennsylvania airport facilities, for bonds issued with a principal balance of $100 million.
These bonds, which are due September 2045, bear interest at a variable rate.
The average interest rate for 2015 was 0.00%.
Pound Sterling Notes The Pound Sterling notes consist of two separate tranches, as follows: ?
Notes with a principal amount of ￡66 million accrue interest at a 5.50% fixed rate, and are due in February 2031.
These notes are not callable.  ?
Notes with a principal amount of ￡455 million accrue interest at a 5.125% fixed rate, and are due in February 2050.
These notes are callable at our option at a redemption price equal to the greater of 100% of the principal amount and accrued interest, or the sum of the present values of the remaining scheduled payout of principal and interest thereon discounted to the date of redemption at a benchmark U. K.  government bond yield plus 15 basis points and accrued interest.

<table><tr><td><i>(Amounts in millions)</i></td><td colspan="2">2013</td><td colspan="2">2012</td><td colspan="2">Change</td></tr><tr><td>External net sales</td><td>$903.0</td><td>82.8%</td><td>$940.6</td><td>83.5%</td><td>$-37.6</td><td>-4.0%</td></tr><tr><td>Intersegment net sales</td><td>188.0</td><td>17.2%</td><td>185.3</td><td>16.5%</td><td>2.7</td><td>1.5%</td></tr><tr><td>Segment net sales</td><td>1,091.0</td><td>100.0%</td><td>1,125.9</td><td>100.0%</td><td>-34.9</td><td>-3.1%</td></tr><tr><td>Cost of goods sold</td><td>-671.5</td><td>-61.5%</td><td>-710.9</td><td>-63.1%</td><td>39.4</td><td>5.5%</td></tr><tr><td>Gross profit</td><td>419.5</td><td>38.5%</td><td>415.0</td><td>36.9%</td><td>4.5</td><td>1.1%</td></tr><tr><td>Operating expenses</td><td>-282.2</td><td>-25.9%</td><td>-287.7</td><td>-25.6%</td><td>5.5</td><td>1.9%</td></tr><tr><td>Segment operating earnings</td><td>$137.3</td><td>12.6%</td><td>$127.3</td><td>11.3%</td><td>$10.0</td><td>7.9%</td></tr></table>
<table><tr><td></td><td colspan="4">Fourth Quarter</td><td colspan="2"></td></tr><tr><td><i>(Amounts in millions)</i></td><td colspan="2">2013</td><td colspan="2">2012</td><td colspan="2">Change</td></tr><tr><td>External net sales</td><td>$231.6</td><td>81.8%</td><td>$236.8</td><td>85.9%</td><td>$-5.2</td><td>-2.2%</td></tr><tr><td>Intersegment net sales</td><td>51.6</td><td>18.2%</td><td>38.8</td><td>14.1%</td><td>12.8</td><td>33.0%</td></tr><tr><td>Segment net sales</td><td>283.2</td><td>100.0%</td><td>275.6</td><td>100.0%</td><td>7.6</td><td>2.8%</td></tr><tr><td>Cost of goods sold</td><td>-172.9</td><td>-61.1%</td><td>-170.6</td><td>-61.9%</td><td>-2.3</td><td>-1.3%</td></tr><tr><td>Gross profit</td><td>110.3</td><td>38.9%</td><td>105.0</td><td>38.1%</td><td>5.3</td><td>5.0%</td></tr><tr><td>Operating expenses</td><td>-73.2</td><td>-25.8%</td><td>-73.1</td><td>-26.5%</td><td>-0.1</td><td>-0.1%</td></tr><tr><td>Segment operating earnings</td><td>$37.1</td><td>13.1%</td><td>$31.9</td><td>11.6%</td><td>$5.2</td><td>16.3%</td></tr></table>
<table><tr><td>Period</td><td>Sharespurchased</td><td>Average priceper share</td><td>Shares purchased aspart of publiclyannounced plans orprograms</td><td>Approximatevalue of sharesthat may yet bepurchased underpubliclyannounced plansor programs*</td></tr><tr><td>09/30/18 to 10/27/18</td><td>90,000</td><td>$149.28</td><td>90,000</td><td>$292.4 million</td></tr><tr><td>10/28/18 to 11/24/18</td><td>335,000</td><td>$159.35</td><td>335,000</td><td>$239.1 million</td></tr><tr><td>11/25/18 to 12/29/18</td><td>205,000</td><td>$160.20</td><td>205,000</td><td>$215.7 million</td></tr><tr><td>Total/Average</td><td>630,000</td><td>$158.19</td><td>630,000</td><td>N/A</td></tr></table>
<table><tr><td></td><td>Shares (in thousands)</td><td> Weighted Average Grant Date Fair Value</td><td> Weighted Average Remaining Contractual Term  (in years)</td><td> Aggregate Intrinsic Value (in millions)</td></tr><tr><td>Nonvested at January 1, 2009</td><td>13,440</td><td>$61.77</td><td></td><td></td></tr><tr><td>Vested</td><td>-4,748</td><td>65.93</td><td></td><td></td></tr><tr><td>Granted</td><td>4,965</td><td>56.57</td><td></td><td></td></tr><tr><td>Reinvested Dividends</td><td>478</td><td>N/A</td><td></td><td></td></tr><tr><td>Forfeited / Expired</td><td>-254</td><td>59.90</td><td></td><td></td></tr><tr><td>Nonvested at December 31, 2009</td><td>13,881</td><td>$58.82</td><td>2.10</td><td>$796</td></tr><tr><td>RSUs Expected to Vest</td><td>13,395</td><td>$58.93</td><td>2.06</td><td>$768</td></tr></table>
<table><tr><td></td><td>EIN / PensionPlan</td><td colspan="2">PensionProtection ActZone Status</td><td>FIP / RP StatusPending /</td><td colspan="3">(in millions)UPS Contributions and Accruals</td><td>Surcharge</td></tr><tr><td>Pension Fund</td><td>Number</td><td>2015</td><td>2014</td><td>Implemented</td><td>2015</td><td>2014</td><td>2013</td><td>Imposed</td></tr><tr><td>Alaska Teamster-Employer Pension Plan</td><td>92-6003463-024</td><td>Red</td><td>Red</td><td>Yes/Implemented</td><td>$5</td><td>$5</td><td>$5</td><td>No</td></tr><tr><td>Automotive Industries Pension Plan</td><td>94-1133245-001</td><td>Red</td><td>Red</td><td>Yes/Implemented</td><td>4</td><td>5</td><td>4</td><td>No</td></tr><tr><td>Central Pennsylvania Teamsters Defined Benefit Plan</td><td>23-6262789-001</td><td>Green</td><td>Green</td><td>No</td><td>36</td><td>33</td><td>30</td><td>No</td></tr><tr><td>Eastern Shore Teamsters Pension Fund</td><td>52-0904953-001</td><td>Green</td><td>Green</td><td>No</td><td>4</td><td>4</td><td>4</td><td>No</td></tr><tr><td>Employer-Teamsters Local Nos. 175 & 505 Pension Trust Fund</td><td>55-6021850-001</td><td>Red</td><td>Red</td><td>Yes/Implemented</td><td>11</td><td>10</td><td>9</td><td>No</td></tr><tr><td>Hagerstown Motor Carriers and Teamsters Pension Fund</td><td>52-6045424-001</td><td>Red</td><td>Red</td><td>Yes/Implemented</td><td>7</td><td>6</td><td>5</td><td>No</td></tr><tr><td>I.A.M. National Pension Fund / National Pension Plan</td><td>51-6031295-002</td><td>Green</td><td>Green</td><td>No</td><td>29</td><td>27</td><td>27</td><td>No</td></tr><tr><td>International Brotherhood of Teamsters Union Local No. 710 Pension Fund</td><td>36-2377656-001</td><td>Green</td><td>Green</td><td>No</td><td>106</td><td>89</td><td>88</td><td>No</td></tr><tr><td>Local 705, International Brotherhood of Teamsters Pension Plan</td><td>36-6492502-001</td><td>Red</td><td>Red</td><td>Yes/Implemented</td><td>91</td><td>69</td><td>68</td><td>No</td></tr><tr><td>Local 804 I.B.T. & Local 447 I.A.M.—UPS Multiemployer Retirement Plan</td><td>51-6117726-001</td><td>Red</td><td>Red</td><td>Yes/Implemented</td><td>97</td><td>92</td><td>88</td><td>No</td></tr><tr><td>Milwaukee Drivers Pension Trust Fund</td><td>39-6045229-001</td><td>Green</td><td>Green</td><td>No</td><td>35</td><td>32</td><td>29</td><td>No</td></tr><tr><td>New England Teamsters & Trucking Industry Pension Fund</td><td>04-6372430-001</td><td>Red</td><td>Red</td><td>Yes/Implemented</td><td>110</td><td>108</td><td>102</td><td>No</td></tr><tr><td>New York State Teamsters Conference Pension and Retirement Fund</td><td>16-6063585-074</td><td>Red</td><td>Red</td><td>Yes/Implemented</td><td>86</td><td>81</td><td>72</td><td>No</td></tr><tr><td>Teamster Pension Fund of Philadelphia and Vicinity</td><td>23-1511735-001</td><td>Yellow</td><td>Yellow</td><td>Yes/Implemented</td><td>53</td><td>50</td><td>46</td><td>No</td></tr><tr><td>Teamsters Joint Council No. 83 of Virginia Pension Fund</td><td>54-6097996-001</td><td>Yellow</td><td>Yellow</td><td>Yes/Implemented</td><td>57</td><td>52</td><td>49</td><td>No</td></tr><tr><td>Teamsters Local 639—Employers Pension Trust</td><td>53-0237142-001</td><td>Green</td><td>Green</td><td>No</td><td>48</td><td>45</td><td>41</td><td>No</td></tr><tr><td>Teamsters Negotiated Pension Plan</td><td>43-6196083-001</td><td>Green</td><td>Yellow</td><td>No</td><td>30</td><td>27</td><td>26</td><td>No</td></tr><tr><td>Truck Drivers and Helpers Local Union No. 355 Retirement Pension Plan</td><td>52-6043608-001</td><td>Yellow</td><td>Yellow</td><td>Yes/Implemented</td><td>17</td><td>16</td><td>14</td><td>No</td></tr><tr><td>United Parcel Service, Inc.—Local 177, I.B.T. Multiemployer Retirement Plan</td><td>13-1426500-419</td><td>Red</td><td>Red</td><td>Yes/Implemented</td><td>83</td><td>85</td><td>68</td><td>No</td></tr><tr><td>Western Conference of Teamsters Pension Plan</td><td>91-6145047-001</td><td>Green</td><td>Green</td><td>No</td><td>646</td><td>604</td><td>553</td><td>No</td></tr><tr><td>Western Pennsylvania Teamsters and Employers Pension Fund</td><td>25-6029946-001</td><td>Red</td><td>Red</td><td>Yes/Implemented</td><td>26</td><td>24</td><td>23</td><td>No</td></tr><tr><td>All Other Multiemployer Pension Plans</td><td></td><td></td><td></td><td></td><td>42</td><td>53</td><td>45</td><td></td></tr><tr><td></td><td></td><td></td><td></td><td>Total Contributions</td><td>$1,623</td><td>$1,517</td><td>$1,396</td><td></td></tr></table>
<table><tr><td></td><td>2015</td><td>2014</td></tr><tr><td>Vehicles</td><td>$74</td><td>$86</td></tr><tr><td>Aircraft</td><td>2,289</td><td>2,289</td></tr><tr><td>Buildings</td><td>207</td><td>197</td></tr><tr><td>Accumulated amortization</td><td>-849</td><td>-781</td></tr><tr><td>Property, plant and equipment subject to capital leases</td><td>$1,721</td><td>$1,791</td></tr></table>

Question: what is the percentage change in vehicles under capital lease between 2014 and 2015?
Answer: -0.13953