Pensions Evergy incurs significant costs in providing non-contributory defined pension benefits.
The costs are measured using actuarial valuations that are dependent upon numerous factors derived from actual plan experience and assumptions of future plan experience.
Pension costs are impacted by actual employee demographics (including age, life expectancies, compensation levels and employment periods), earnings on plan assets, the level of contributions made to the plan, and plan amendments.
In addition, pension costs are also affected by changes in key actuarial assumptions, including anticipated rates of return on plan assets and the discount rates used in determining the projected benefit obligation and pension costs.
The assumed rate of return on plan assets was developed based on the weighted-average of long-term returns forecast for the expected portfolio mix of investments held by the plan.
The assumed discount rate was selected based on the prevailing market rate of fixed income debt instruments with maturities matching the expected timing of the benefit obligation.
These assumptions, updated annually at the measurement date, are based on management's best estimates and judgment; however, material changes may occur if these assumptions differ from actual events.
See Note 9 to the consolidated financial statements for information regarding the assumptions used to determine benefit obligations and net costs.
The following table reflects the sensitivities associated with a 0.5% increase or a 0.5% decrease in key actuarial assumptions for Evergy's qualified pension plans.
Each sensitivity reflects the impact of the change based on a change in that assumption only.
## Table 0 ##
Pension expense for Westar Energy, KCP&L and GMO is recorded in accordance with rate orders from the KCC and MPSC.
The orders allow the difference between pension costs under GAAP and pension costs for ratemaking to be recorded as a regulatory asset or liability with future ratemaking recovery or refunds, as appropriate.
In 2018, Evergy's pension expense was $90.1 million under GAAP and $98.4 million for ratemaking.
The impact on 2019 pension expense in the table above reflects the impact on GAAP pension costs.
Under the Evergy Companies' rate agreements, any increase or decrease in GAAP pension expense would be deferred in a regulatory asset or liability for future ratemaking treatment.
See Note 9 to the consolidated financial statements for additional information regarding the accounting for pensions.
Market conditions and interest rates significantly affect the future assets and liabilities of the plan.
It is difficult to predict future pension costs, changes in pension liability and cash funding requirements due to the inherent uncertainty of market conditions.
Revenue Recognition Evergy recognizes revenue on the sale of electricity to customers over time as the service is provided in the amount it has the right to invoice.
Revenues recorded include electric services provided but not yet billed by Evergy.
Unbilled revenues are recorded for kWh usage in the period following the customers' billing cycle to the end of the
KANSAS CITY POWER & LIGHT COMPANY MANAGEMENT'S NARRATIVE ANALYSIS OF RESULTS OF OPERATIONS The below results of operations and related discussion for KCP&L is presented in a reduced disclosure format in accordance with General Instruction (I)(2)(a) to Form 10-K.
The following table summarizes KCP&L's comparative results of operations.
## Table 1 ##
KCP&L Utility Gross Margin and MWh Sales The following table summarizes KCP&L's utility gross margin and MWhs sold.
## Table 2 ##
(a) Utility gross margin is a non-GAAP financial measure.
See explanation of utility gross margin under Evergy's Results of Operations.
KCP&L's utility gross margin decreased $107.5 million in 2018 compared to 2017 driven by: ?
a $72.4 million refund obligation for the change in the corporate income tax rate caused by the passage of the TCJA.
See Note 19 to the consolidated financial statements for additional information; ?
$72.9 million of sales taxes and franchise fees collected from KCP&L Missouri customers included in revenue in 2017, which as part of KCP&L's adoption of Accounting Standards Codification (ASC) 606, are now excluded from revenue in 2018; and ?
a $25.0 million reduction in revenue for one-time and annual bill credits as a result of conditions in the MPSC and KCC merger orders.
See Note 2 to the consolidated financial statements for additional information; partially offset by
2015 and 2014 was $1.5 billion and $1.3 billion.
The aggregate notional amount of our outstanding foreign currency hedges at December 31, 2015 and 2014 was $4.1 billion and $804 million.
Derivative instruments did not have a material impact on net earnings and comprehensive income during 2015, 2014 and 2013.
Substantially all of our derivatives are designated for hedge accounting.
See Note 16 for more information on the fair value measurements related to our derivative instruments.
Recent Accounting Pronouncements – In May 2014, the FASB issued a new standard that will change the way we recognize revenue and significantly expand the disclosure requirements for revenue arrangements.
On July 9, 2015, the FASB approved a one-year deferral of the effective date of the standard to 2018 for public companies, with an option that would permit companies to adopt the standard in 2017.
Early adoption prior to 2017 is not permitted.
The new standard may be adopted either retrospectively or on a modified retrospective basis whereby the new standard would be applied to new contracts and existing contracts with remaining performance obligations as of the effective date, with a cumulative catch-up adjustment recorded to beginning retained earnings at the effective date for existing contracts with remaining performance obligations.
In addition, the FASB is contemplating making additional changes to certain elements of the new standard.
We are currently evaluating the methods of adoption allowed by the new standard and the effect the standard is expected to have on our consolidated financial statements and related disclosures.
As the new standard will supersede substantially all existing revenue guidance affecting us under GAAP, it could impact revenue and cost recognition on thousands of contracts across all our business segments, in addition to our business processes and our information technology systems.
As a result, our evaluation of the effect of the new standard will extend over future periods.
In September 2015, the FASB issued a new standard that simplifies the accounting for adjustments made to preliminary amounts recognized in a business combination by eliminating the requirement to retrospectively account for those adjustments.
Instead, adjustments will be recognized in the period in which the adjustments are determined, including the effect on earnings of any amounts that would have been recorded in previous periods if the accounting had been completed at the acquisition date.
We adopted the standard on January 1, 2016 and will prospectively apply the standard to business combination adjustments identified after the date of adoption.
In November 2015, the FASB issued a new standard that simplifies the presentation of deferred income taxes and requires that deferred tax assets and liabilities, as well as any related valuation allowance, be classified as noncurrent in our consolidated balance sheets.
The standard is effective January 1, 2017, with early adoption permitted.
The standard may be applied either prospectively from the date of adoption or retrospectively to all prior periods presented.
We are currently evaluating when we will adopt the standard and the method of adoption.
Note 2 – Earnings Per Share The weighted average number of shares outstanding used to compute earnings per common share were as follows (in millions):

<table><tr><td></td><td></td><td></td><td>Impact on Projected</td><td>Impact on 2019</td></tr><tr><td></td><td colspan="2">Change in</td><td>Benefit</td><td>Pension</td></tr><tr><td>Actuarial assumption</td><td colspan="2">Assumption</td><td>Obligation</td><td>Expense</td></tr><tr><td></td><td></td><td></td><td colspan="2">(millions)</td></tr><tr><td>Discount rate</td><td>0.5%</td><td>increase</td><td>$-173.9</td><td>$-19.0</td></tr><tr><td>Rate of return on plan assets</td><td>0.5%</td><td>increase</td><td>—</td><td>-8.1</td></tr><tr><td>Rate of compensation</td><td>0.5%</td><td>increase</td><td>40.5</td><td>8.5</td></tr><tr><td>Discount rate</td><td>0.5%</td><td>decrease</td><td>197.3</td><td>21.3</td></tr><tr><td>Rate of return on plan assets</td><td>0.5%</td><td>decrease</td><td>—</td><td>8.1</td></tr><tr><td>Rate of compensation</td><td>0.5%</td><td>decrease</td><td>-36.4</td><td>-7.7</td></tr></table>
<table><tr><td></td><td>2018</td><td>Change</td><td>2017</td></tr><tr><td></td><td colspan="3">(millions)</td></tr><tr><td>Operating revenues</td><td>$1,823.1</td><td>$-67.6</td><td>$1,890.7</td></tr><tr><td>Fuel and purchased power</td><td>520.6</td><td>39.9</td><td>480.7</td></tr><tr><td>Other operating expenses</td><td>611.4</td><td>-45.9</td><td>657.3</td></tr><tr><td>Depreciation and amortization</td><td>281.3</td><td>15.0</td><td>266.3</td></tr><tr><td>Income from operations</td><td>409.8</td><td>-76.6</td><td>486.4</td></tr><tr><td>Other income (expense), net</td><td>-25.9</td><td>13.7</td><td>-39.6</td></tr><tr><td>Interest expense</td><td>133.7</td><td>-5.1</td><td>138.8</td></tr><tr><td>Income tax expense</td><td>87.3</td><td>-40.9</td><td>128.2</td></tr><tr><td>Net income</td><td>$162.9</td><td>$-16.9</td><td>$179.8</td></tr></table>
<table><tr><td></td><td colspan="3">Revenues and Expenses</td><td colspan="3">MWhs Sold</td></tr><tr><td></td><td>2018</td><td>Change</td><td>2017</td><td>2018</td><td>Change</td><td>2017</td></tr><tr><td>Retail revenues</td><td colspan="3">(millions)</td><td colspan="3">(thousands)</td></tr><tr><td>Residential</td><td>$735.6</td><td>10.3</td><td>$725.3</td><td>5,686</td><td>504</td><td>5,182</td></tr><tr><td>Commercial</td><td>794.8</td><td>-49.6</td><td>844.4</td><td>7,782</td><td>316</td><td>7,466</td></tr><tr><td>Industrial</td><td>138.8</td><td>-22.2</td><td>161.0</td><td>1,754</td><td>-61</td><td>1,815</td></tr><tr><td>Other retail revenues</td><td>10.4</td><td>-0.8</td><td>11.2</td><td>76</td><td>4</td><td>72</td></tr><tr><td>Total electric retail</td><td>1,679.6</td><td>-62.3</td><td>1,741.9</td><td>15,298</td><td>763</td><td>14,535</td></tr><tr><td>Wholesale revenues</td><td>53.5</td><td>-34.5</td><td>88.0</td><td>5,017</td><td>-1,771</td><td>6,788</td></tr><tr><td>Transmission revenues</td><td>14.5</td><td>-1.5</td><td>16.0</td><td>N/A</td><td>N/A</td><td>N/A</td></tr><tr><td>Other revenues</td><td>75.5</td><td>30.7</td><td>44.8</td><td>N/A</td><td>N/A</td><td>N/A</td></tr><tr><td>Operating revenues</td><td>1,823.1</td><td>-67.6</td><td>1,890.7</td><td>20,315</td><td>-1,008</td><td>21,323</td></tr><tr><td>Fuel and purchased power</td><td>-520.6</td><td>-39.9</td><td>-480.7</td><td></td><td></td><td></td></tr><tr><td>Utility gross margin<sup>(a)</sup></td><td>$1,302.5</td><td>$-107.5</td><td>$1,410.0</td><td></td><td></td><td></td></tr></table>

Question: What is the proportion of Residential to the total electric retail in 2018?
Answer: 0.43796