c) In October 2016, our accelerated share repurchase (‘‘ASR’’) agreement concluded and we received an additional 44 thousand shares of our common stock.
Shares purchased pursuant to the ASR agreement are presented in the table above in the periods in which they were received.
Performance Graph The following graph compares the performance of our common stock with that of the S&P 500 Index and the S&P 500 Healthcare Equipment Index.
The cumulative total return listed below assumes an initial investment of $100 at the market close on December 30, 2011 and reinvestment of dividends.
COMPARISON OF 5 YEAR CUMULATIVE TOTAL RETURN
## Table 0 ##
following the events of September 11, 2001 and the resulting shift of some services and related revenue, to the fourth quarter of 2001.
This caused a favorable comparison for the service revenue growth rate in the third quarter of 2002 and a difficult comparison in the fourth quarter of 2002.
Cost of Sales Consolidated cost of sales (excluding depreciation) is comprised of the following expenses
## Table 1 ##
Labor The dollar increase in labor expense is primarily attributable to increases in headcount and changes in our labor mix resulting from the expansion of our secure shredding operations.
Our secure shredding operations are more labor intensive, therefore, labor expense will be higher as a percentage of revenue as compared to our traditional operations.
In 2002, this impact was mitigated by improved labor management in our off-site data protection segment.
In addition, our domestic operations, which comprise approximately 75% of our workforce, experienced an overall increase in wages due to normal inflation, merit increases and significant increases in medical insurance and worker’s compensation expenses of approximately $12.0 million.
The majority of these increases are attributable to higher premiums and self-insurance requirements.
Facilities Our property management activities combined with a higher utilization of our space has driven the decrease of our facilities expenses as a percentage of consolidated revenues from 14.6% in 2001 to 14.0% in 2002.
The largest component of our facilities cost is rent expense, which decreased $0.3 million for the year ended December 31, 2002.
We reduced the number of leased facilities we occupy by 23 in 2002 primarily through the consolidation of our property portfolio as we exited less desirable facilities and consolidated our remaining properties subsequent to the Pierce Leahy merger.
The decrease in leased properties is also a result of the recharacterization of eight properties under synthetic lease facilities at the end of 2001, which are now consolidated on our balance sheet at the end of 2002.
During 2001 and 2002, we recorded $1.8 million and $0.0 million of rent expense for these eight properties, respectively.
An additional 23 properties under our synthetic leases facilities were consolidated as of December 31, 2002; however, they were accounted for as operating leases during 2002 and their costs were included in rent expense.
For the years ended December 31, 2001 and 2002, we recorded rent expense of $6.7 million and $5.9 million, respectively, on these 23 properties and we will prospectively record the rent expense as interest expense beginning in 2003.
The dollar increase in facilities expenses is attributable to property insurance, which increased $4.7 million for the year ended December 31, 2002 compared to the year ended December 31, 2001.
The market-wide increase in property insurance premiums in the wake of the events of September 11
and fulfillment operations and costs associated with our corporate headquarters’ operations.
Certain costs incurred by our Corporate division were allocated to the other segments in 2002, 2003, and 2004, primarily to our Business Records Management and Data Protection segments.
These allocations, which include rent, worker’s compensation, property, general liability, auto and other insurance, pension/ medical costs, incentive compensation, real estate property taxes and provision for bad debts, are based on rates set at the beginning of each year.
Revenue in our Corporate and Other segment increased $21.2 million to $51.0 million for the year ended December 31, 2004 and $4.6 million to $29.8 million for the year ended December 31, 2003 from $25.2 million for the year ended December 31, 2002.
Contribution decreased $2.2 million to $30.5 million for the year ended December 31, 2004 and increased $15.8 million to $32.7 million for the year ended December 31, 2003 from $16.9 million for the year ended December 31, 2002.
Items excluded from the calculation of Contribution include the following: (1) depreciation and amortization expense for the years ended December 31, 2002, 2003, and 2004 of $21.4 million, $29.4 million, and $32.6 million, respectively, (2) foreign currency gains of $3.4 million, $1.3 million, and $8.4 million for the years ended December 31, 2002, 2003, and 2004, respectively, (3) debt extinguishment expense of $5.4 million, $15.6 million, and $0.4 million for the years ended December 31, 2002, 2003, and 2004, respectively, and (4) a $0.8 million and $0.7 million loss on disposal/writedown of property, plant and equipment, net for the years ended December 31, 2002 and 2003, respectively.
Liquidity and Capital Resources The following is a summary of our cash balances and cash flows for the years ended 2002, 2003 and 2004 (in thousands).
## Table 2 ##
Net cash provided by operating activities was $305.4 million for the year ended December 31, 2004 compared to $288.7 million for the year ended December 31, 2003.
The increase resulted primarily from an increase in operating income and non-cash items, such as depreciation offset by the net change in assets and liabilities.
The net change in assets and liabilities is primarily associated with growth in revenues and the resulting increase in receivables, growth in deferred revenue from selling efforts in our digital businesses, an increase in days sales outstanding in our European operations and increased purchase reserve payments year over year.
We have made significant capital expenditures, additions to customer relationship and acquisition costs and other investments, primarily acquisitions.
Our capital expenditures are primarily related to growth and include investments in storage systems, information systems and discretionary investments in real estate.
Cash paid for our capital expenditures and additions to customer relationship and acquisition costs during the year ended December 31, 2004 amounted to $232.0 million and $12.5 million, respectively.
For the years ended December 31, 2002, 2003 and 2004, capital expenditures, net and additions to customer relationship and acquisition costs were funded entirely with cash flows provided by operating activities.
Excluding acquisitions, we expect our capital expenditures to be between approximately $220 million and approximately $250 million in the year ending December 31, 2005.
In the year ended December 31, 2004, we paid net cash consideration of $384.3 million for acquisitions, which included $111.7 million associated with the purchase of Mentmore’s 49.9% equity interest in IME and approximately $109 million (net of cash acquired) to acquire Connected.
Cash
IRON MOUNTAIN INCORPORATED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) DECEMBER 31, 2016 (In thousands, except share and per share data) 152 13.
Stockholders' Equity Matters Our board of directors has adopted a dividend policy under which we have paid, and in the future intend to pay, quarterly cash dividends on our common stock.
The amount and timing of future dividends will continue to be subject to the approval of our board of directors, in its sole discretion, and to applicable legal requirements.
On September 15, 2014, we announced the declaration by our board of directors of a special distribution of $700,000 (the "Special Distribution"), payable to stockholders of record as of September 30, 2014 (the "Record Date").
The Special Distribution represented the remaining amount of our undistributed earnings and profits attributable to all taxable periods ending on or prior to December 31, 2013, which in accordance with tax rules applicable to REIT conversions, we were required to pay to our stockholders on or before December 31, 2014 in connection with our conversion to a REIT.
The Special Distribution also included certain items of taxable income that we recognized in 2014, such as depreciation recapture in respect of accounting method changes commenced in our pre-REIT period as well as foreign earnings and profits recognized as dividend income.
The Special Distribution followed an initial special distribution of $700,000 paid to stockholders in November 2012.
The Special Distribution was paid on November 4, 2014 (the "Payment Date") to stockholders of record as of the Record Date in a combination of common stock and cash.
Stockholders had the right to elect to be paid their pro rata portion of the Special Distribution in all common stock or all cash, with the total cash payment to stockholders limited to no more than $140,000, or 20% of the total Special Distribution, not including cash paid in lieu of fractional shares.
Based on stockholder elections, we paid $140,000 of the Special Distribution in cash, not including cash paid in lieu of fractional shares, with the balance paid in the form of common stock.
Our shares of common stock were valued for purposes of the Special Distribution based upon the average closing price on the three trading days following October 24, 2014, or $35.55 per share, and as such, we issued approximately 15,750,000 shares of common stock in the Special Distribution.
These shares impact weighted average shares outstanding from the date of issuance, and thus impact our earnings per share data prospectively from the Payment Date.
In November 2014, our board of directors declared a distribution of $0.255 per share (the "Catch-Up Distribution") payable on December 15, 2014 to stockholders of record on November 28, 2014.
Our board of directors declared the Catch-Up Distribution because our cash distributions paid from January 2014 through July 2014 were declared and paid before our board of directors had determined that we would elect REIT status effective January 1, 2014 and were lower than they otherwise would have been if the final determination to elect REIT status effective January 1, 2014 had been prior to such distributions.
In 2015 and 2016, our board of directors declared the following dividends:

<table><tr><td>Total Cumulative Return</td><td>2012</td><td>2013</td><td>2014</td><td>2015</td><td>2016</td></tr><tr><td>Edwards Lifesciences</td><td>$127.54</td><td>$93.01</td><td>$180.17</td><td>$223.42</td><td>$265.06</td></tr><tr><td>S&P 500</td><td>116.00</td><td>153.58</td><td>174.60</td><td>177.01</td><td>198.18</td></tr><tr><td>S&P 500 Healthcare Equipment Index</td><td>117.42</td><td>150.28</td><td>181.96</td><td>194.37</td><td>207.46</td></tr></table>
<table><tr><td> </td><td> </td><td> </td><td></td><td></td><td colspan="3">% of Consolidated Revenues</td></tr><tr><td> </td><td> 2001</td><td> 2002</td><td>Dollar Change</td><td>Percent Change</td><td>2001</td><td>2002</td><td>Percent Change (Favorable)/ Unfavorable</td></tr><tr><td> </td><td colspan="3">(In Thousands)</td><td></td><td></td><td></td><td></td></tr><tr><td>Labor</td><td>$286,951</td><td>$318,707</td><td>$31,756</td><td>11.1%</td><td>24.2%</td><td>24.2%</td><td>-0.0%</td></tr><tr><td>Facilities</td><td>173,610</td><td>184,988</td><td>11,378</td><td>6.6%</td><td>14.6%</td><td>14.0%</td><td>-0.6%</td></tr><tr><td>Transportation</td><td>55,167</td><td>56,972</td><td>1,805</td><td>3.3%</td><td>4.7%</td><td>4.3%</td><td>-0.4%</td></tr><tr><td>Product Cost of Sales</td><td>31,363</td><td>34,552</td><td>3,189</td><td>10.2%</td><td>2.6%</td><td>2.6%</td><td>-0.0%</td></tr><tr><td>Other</td><td>29,447</td><td>27,080</td><td>-2,367</td><td>-8.0%</td><td>2.5%</td><td>2.1%</td><td>-0.4%</td></tr><tr><td></td><td>$576,538</td><td>$622,299</td><td>$45,761</td><td>7.9%</td><td>48.6%</td><td>47.2%</td><td>-1.4%</td></tr></table>
<table><tr><td></td><td>2002</td><td>2003</td><td>2004</td></tr><tr><td>Cash flows provided by operating activities</td><td>$254,948</td><td>$288,693</td><td>$305,364</td></tr><tr><td>Cash flows used in investing activities</td><td>-247,757</td><td>-586,634</td><td>-626,523</td></tr><tr><td>Cash flows provided by financing activities</td><td>27,098</td><td>315,054</td><td>276,569</td></tr><tr><td>Cash and cash equivalents at the end of year</td><td>$56,292</td><td>$74,683</td><td>$31,942</td></tr></table>

Question: If Facilities's percent of Consolidated Revenues develops with the same growth rate in 2002, what will it reach in 2003? (in %)
Answer: 13.9589