The table below sets forth information on our share repurchases and dividends paid in 2015, 2014 and 2013.
## Table 0 ##
Refer to Note 10 and Note 17 to Comcast’s consolidated financial statements.
(a) Excludes interest payments.
(b) Purchase obligations consist of agreements to purchase goods and services that are legally binding on us and specify all significant terms, including fixed or minimum quantities to be purchased and price provisions.
Our purchase obligations related to our Cable Communications segment include programming contracts with cable networks and local broadcast television stations; contracts with customer premise equipment manufacturers, communications vendors and multichannel video providers for which we provide advertising sales representation; and other contracts entered into in the normal course of business.
Cable Communications programming contracts in the table above include amounts payable under fixed or minimum guaranteed commitments and do not represent the total fees that are expected to be paid under programming contracts, which we expect to be significantly higher because these contracts are generally based on the number of subscribers receiving the programming.
Our purchase obligations related to our NBCUniversal segments consist primarily of commitments to acquire film and television programming, including U. S.  television rights to future Olympic Games through 2032, Sunday Night Football on the NBC network through the 2022-23 season, including the Super Bowl in 2018 and 2021, NHL games through the 2020-21 season, Spanish-language U. S.  television rights to FIFA World Cup games through 2022, U.
S television rights to English Premier League soccer games through the 2021-22 season, certain PGA TOUR and other golf events through 2030 and certain NASCAR events through 2024, as well as obligations under various creative talent and employment agreements, including obligations to actors, producers, television personalities and executives, and various other television commitments.
Purchase obligations do not include contracts with immaterial future commitments.
(c) Other long-term liabilities reflected on the balance sheet consist primarily of subsidiary preferred shares; deferred compensation obligations; and pension, postretirement and postemployment benefit obligations.
A contractual obligation with a carrying value of $1.1 billion is not included in the table above because it is uncertain if the arrangement will be settled.
The contractual obligation involves an interest held by a third party in the revenue of certain theme parks.
The arrangement provides the counterparty with the right to periodic payments associated with current period revenue and, beginning in 2017, the option to require NBCUniversal to purchase the interest for cash in an amount based on a contractually specified formula, which amount could be significantly higher than our current carrying value.
See Note 11 to Comcast’s consolidated financial statements for additional information related to this arrangement.
Reserves for uncertain tax positions of $1.1 billion are not included in the table above because it is uncertain if and when these reserves will become payable.
Payments of $2.1 billion of participations and residuals are also not included in the table above because we cannot make a reliable estimate of the period in which these obligations will be settled.
(d) Our contractual obligations do not include the commitment to invest up to $4 billion at any one time as an investor in Atairos due to our inability to estimate the timing of this funding.
In addition, we do not include any future expenditures related to the construction and development of the proposed Universal Studios theme park in Beijing, China as we are not currently obligated to make such funding.
PRUDENTIAL FINANCIAL, INC.  Notes to Consolidated Financial Statements 21.
COMMITMENTS AND GUARANTEES, CONTINGENT LIABILITIES AND LITIGATION AND REGULATORY MATTERS (continued) Summary The Company’s litigation and regulatory matters are subject to many uncertainties, and given their complexity and scope, their outcome cannot be predicted.
It is possible that the results of operations or the cash flow of the Company in a particular quarterly or annual period could be materially affected by an ultimate unfavorable resolution of pending litigation and regulatory matters depending, in part, upon the results of operations or cash flow for such period.
Management believes, however, that the ultimate outcome of all pending litigation and regulatory matters, after consideration of applicable reserves and rights to indemnification, should not have a material adverse effect on the Company’s financial position.22.
QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) The unaudited quarterly results of operations for the years ended December 31, 2005 and 2004 are summarized in the table below:
## Table 1 ##
(1) Quarterly earnings per share amounts may not add to the full year amounts due to the averaging of shares.
Results for the second and fourth quarters of 2005 include pre-tax expenses of $136 million and $267 million, respectively, related to obligations and costs we retained in connection with businesses contributed to the retail securities brokerage joint venture with Wachovia, including accruals for estimated settlement costs related to market timing issues under active negotiation with state and federal authorities.
Results for the third quarter of 2005 include an income tax benefit of $720 million, as discussed further in Note 17.
As discussed in Note 2, the Company adopted SOP 03-1 effective January 1, 2004.
Results for the first quarter of 2004 include a loss from the cumulative effect of accounting changes, net of taxes, of $79 million related to the adoption of SOP 03-1.
In the fourth quarter of 2004 the Company committed to the sale or exit of its Dryden Wealth Management Business and results for the fourth quarter include a charge of $53 million for the impairment of goodwill associated with this business.
TELEFLEX INCORPORATED NOTES?TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued) The effective income tax rate for 2016 was impacted by a tax benefit associated with U. S.  federal tax return filings, a benefit resulting from the reduction of our German reserves as a result of the conclusion of an audit, a benefit resulting from the expiration of various statutes of limitation, and a benefit associated with the IP R&D asset impairment referenced in Note 4.
The Company and its subsidiaries are routinely subject to examinations by various taxing authorities.
In conjunction with these examinations and as a regular practice, the Company establishes and adjusts reserves with respect to its uncertain tax positions to address developments related to those positions.
The Company realized a net benefit of approximately $5.2 million in 2017 as a result of reducing its reserves with respect to uncertain tax positions, principally due to the expiration of a number of applicable statutes of limitations.
The Company realized a net benefit of approximately $8.8 million in 2016, as a result of reducing its reserves with respect to uncertain tax positions, principally due to the conclusion of a tax audit in Germany and the expiration of various statutes of limitations.
The Company realized a net benefit of approximately $4.6 million in 2015, which resulted from a reduction in the Company's U. S.  reserves due to the conclusion of a tax audit, offset by an increase in the Company's foreign reserves with respect to developments in the tax audit in Germany discussed above.
The following table summarizes significant components of the Company’s deferred tax assets and liabilities at December?31, 2017 and?2016:
## Table 2 ##
As a result of the TCJA, the Company reassessed and revalued its deferred tax positions at December 31, 2017.
As a result, the Company recognized a $46.1 million decrease in the net deferred tax liability in 2017.
Under the tax laws of various jurisdictions in which the Company operates, deductions or credits that cannot be fully utilized for tax purposes during the current year may be carried forward, subject to statutory limitations, to reduce taxable income or taxes payable in a future tax year.
At December?31, 2017, the tax effect of such carryforwards approximated $210.1 million.
Of this amount, $11.5 million has no expiration date, $2.0 million expires after 2017 but before the end of 2022 and $196.6 million expires after 2022.
A portion of these carryforwards consists of tax losses and credits obtained by the Company as a result of acquisitions; the utilization of these carryforwards are subject to an annual limitation imposed by Section?382 of the Internal Revenue Code, which limits a company’s ability to deduct prior net operating losses following a more than 50 percent change in ownership.
It is not expected that the Section?382 limitation will prevent the Company ultimately from utilizing the applicable loss carryforwards.
The determination of state net operating loss carryforwards is dependent upon the United States?subsidiaries’ taxable income or loss, the state’s proportion of each subsidiary's taxable net income and the application of state laws, which can change from year to year and impact the amount of such carryforward.
The valuation allowance for deferred tax assets of $104.8 million and $104.5 million at December?31, 2017 and?2016, respectively, relates principally to the uncertainty of the Company’s ability to utilize certain deferred tax
$3.8 bllin at the end of fiscal 2007.
Working capital, the excess of current assets over current liabilities, was $0.6 bllion at the end of fiscal 2008, down from $2.8 bllin at the end of fiscal 2007.
The decreases in cosh and cash equivolents, short-term investments and working capital were due primarily to the liquidation of a substantial portion of our investment portfolio to repay debt and to fund our ASR program.
In addition, at March 1, 2008, we ecassified $4 17 miion (par value) of our short-term investments in auction-rate securities to non-current assets within equity and other investments in our consolidoted balance sheet given the uncertainty of when these investments can be successfully liquidated at par as a result of the current market failures for auction-rate securities as described below.
In accordance with our investment policy, we invest with issuers who have high-quality credit and limit the amount of investment exposure to any one ssuer.
The primary objective of our investment activities is to preserve principal and maintain a desired level of liquidity to meet working capital needs.
We seek to preserve principal and minimize exposure to interest- rate fluctuations by limiting default risk, market risk and reinvestment risk.
All investment debt securities we own are investment grade.
We do not have any investments in securities that are collateralized by assets that include mortgages or subprime debt.
The vast majority of our investments in auction-rate securities are AAA/Aaa-rated and collateralized by student loans, which are guaranteed 95% to 100% by the U. S.  government.
Until February 2008, the market for auction-rate securities was highly liquid.
Begining February 11, 2008, a substantial number of auctions began to fail as the amount of securities submitted for sale in those auctions exceeded the aggregate amount of the bids.
Substantially all of our auction-rate securities portfolio at March 1, 2008, has been subject to failed audions.
For each unsuccessful audion, the interest rate moves to a maximum rate defined for each security.
To date, we have collected all interest due on our audion-rate securities and expect to continue to do so in the future.
Since March 1, 2008 and through April 25, 2008, we have liquidated $20 million of auction-rate securities at par value.
At April 25, 2008, our auction-rate securities portfolio was $397 million (par value).
The principal associated with failed auctions will not be accessible until successful auctions occur, a buyer is found outside of the auction process, the issuers establish a different form of financing to replace these securities, or final payments come due according to the contractual maturities of the debt issues, which range from 8 to 40 years.
We believe that the credit quality of our auction-rote securities is high and that we will ultimately recover all amounts invested in these securities.
We do not believe the current iliquidity of these investments will have a material impact on our ability to execute our business plans as described below in the Outlook for Fiscal 2009 section of this MD&A.
Our liquidity is also ffected by restricted cash and investments in debt securities that are pledged as collateral or restricted to use for vendor payables, general liability insurance, workers' compensation insurance and warranty programs.
Restrided cash and investments in debt securities totaled $ 408 million and $382 million at March 1, 2008, and March 3, 2007, respectively, and were included in other current assets or equity and other invest ments.
Cash Flows The following table summarizes our cash flows from operating, investing and financing activities for each of the past three fiscal years ($ in millions):
## Table 3 ##
ITEM 2.
PROPERTIES Our worldwide headquarters is located on a 35-acre office complex in Atlanta, Georgia.
The complex includes our 621,000 square foot headquarters building and an 870,000 square foot building in which our North America group’s main offices are located.
The complex also includes several other buildings, including our 264,000 square foot Coca-Cola Plaza building, technical and engineering facilities and a reception center.
We also own an office and retail building at 711 Fifth Avenue in New York, New York.
These properties, except for the North America group’s main offices, are included in Corporate.
The North America group’s main offices are included in the North America operating segment.
We own or lease additional facilities, real estate and office space throughout the world which we use for administrative, manufacturing, processing, packaging, storage, warehousing, distribution and retail operations.
These properties are generally included in the geographic operating segment in which they are located.
The following table summarizes our principal production, distribution and storage facilities by operating segment and Corporate as of December 31, 2018:
## Table 4 ##
1 Does not include 36 owned and 2 leased principal beverage manufacturing/bottling plants and 23 owned and 30 leased distribution and storage warehouses related to our discontinued operations.
Management believes that our Company’s facilities for the production of our products are suitable and adequate, that they are being appropriately utilized in line with past experience, and that they have sufficient production capacity for their present intended purposes.
The extent of utilization of such facilities varies based upon seasonal demand for our products.
However, management believes that additional production can be achieved at the existing facilities by adding personnel and capital equipment and, at some facilities, by adding shifts of personnel or expanding the facilities.
We continuously review our anticipated requirements for facilities and, on the basis of that review, may from time to time acquire or lease additional facilities and/or dispose of existing facilities.
ITEM 3.
LEGAL PROCEEDINGS The Company is involved in various legal proceedings, including the proceedings specifically discussed below.
Management believes that, except as disclosed in U. S.  Federal Income Tax Dispute below, the total liabilities of the Company that may arise as a result of currently pending legal proceedings will not have a material adverse effect on the Company taken as a whole.
Aqua-Chem Litigation On December 20, 2002, the Company filed a lawsuit (The Coca-Cola Company v.  Aqua-Chem, Inc. , Civil Action No.2002CV631-50) in the Superior Court of Fulton County, Georgia (“Georgia Case”), seeking a declaratory judgment that the Company has no obligation to its former subsidiary, Aqua-Chem, Inc. , now known as Cleaver-Brooks, Inc.  (“Aqua-Chem”), for any past, present or future liabilities or expenses in connection with any claims or lawsuits against Aqua-Chem.
Subsequent to the Company’s filing but on the same day, Aqua-Chem filed a lawsuit (Aqua-Chem, Inc.  v.  The Coca-Cola Company, Civil Action No.02CV012179) in the Circuit Court, Civil Division of Milwaukee County, Wisconsin (“Wisconsin Case”).
In the Wisconsin Case, Aqua-Chem sought a declaratory judgment that the Company is responsible for all liabilities and expenses not covered by insurance in connection with certain of Aqua-Chem’s general and product liability claims arising from occurrences prior to the Company’s sale of Aqua-Chem in 1981, and a judgment for breach of contract in an amount exceeding $9 million for costs incurred by Aqua-Chem to date in connection with such claims.
The Wisconsin Case initially was stayed, pending final resolution of the Georgia Case, and later was voluntarily dismissed without prejudice by Aqua-Chem.
The Company owned Aqua-Chem from 1970 to 1981.
During that time, the Company purchased over $400 million of insurance coverage, which also insures Aqua-Chem for some of its prior and future costs for certain product liability and other claims.
The Company sold Aqua-Chem to Lyonnaise American Holding, Inc. , in 1981 under the terms of a stock sale agreement.
The 1981 agreement, and a subsequent 1983 settlement agreement, outlined the parties’ rights and obligations concerning past and future
In addition to the consolidated operating results shown on the previous page, consolidated results for 2007 and adjusted growth rates for 2008 and 2007 are presented in the following table excluding the impact of the Latam transaction.
These results include the effect of foreign currency translation further discussed in the section titled Impact of foreign currency translation on reported results.
While the Company has converted certain other markets to a developmental license arrangement, management believes the Latam transaction and the associated charge are not indicative of ongoing operations due to the size and scope of the transaction.
Management believes that the adjusted operating results better reflect the underlying business trends relevant to the periods presented.
## Table 5 ##
nm Not meaningful.
(1) The results for the full year 2007 included impairment and other charges of $1,665 million, partly offset by a benefit of $24 million due to eliminating depreciation on the assets in Latam in mid-April 2007, and a tax benefit of $62 million.
(2) The following items impact the comparison of adjusted growth in diluted income per share from continuing operations and diluted net income per share for the year ended December 31, 2008 compared with 2007.
On a net basis, these items negatively impact the comparison by 7 and 6 percentage points, respectively: 2008 ?
$0.09 per share gain on the sale of the Company’s minority interest in Pret A Manger.2007 ?
$0.26 per share of income tax benefit resulting from the completion of an Internal Revenue Service (IRS) examination of the Company’s 2003-2004 U. S.  federal income tax returns; partly offset by ?
$0.02 per share of income tax expense related to the impact of a tax law change in Canada.
(3) The following items impact the comparison of adjusted growth in diluted income per share from continuing operations and diluted net income per share for the year ended December 31, 2007 compared with 2006.
On a net basis, these items positively impact the comparison by 15 and 12 percentage points, respectively: 2007 ?
$0.26 per share of income tax benefit resulting from the completion of an IRS examination of the Company’s 2003-2004 U. S.  federal income tax returns; partly offset by ?
$0.02 per share of income tax expense related to the impact of a tax law change in Canada.2006 ?
$0.08 per share of operating expenses primarily related to strategic actions taken to enhance overall profitability and improve returns; and ?
$0.01 per share of incremental income tax expense primarily related to the impact of a tax law change in Canada.
Net income and diluted net income per common share In 2008, net income and diluted net income per common share were $4.3 billion and $3.76.
Results benefited by a $109 million, or $0.09 per share, gain on the sale of the Company’s minority interest in Pret A Manger.
In 2007, net income and diluted net income per common share were $2.4 billion and $1.98.
Income from continuing operations was $2.3 billion or $1.93 per share, which included $1.6 billion or $1.30 per share of net expense related to the Latam transaction.
This reflects an impairment charge of $1.32 per share, partly offset by a $0.02 per share benefit due to eliminating depreciation on the assets in Latam in mid-April 2007 in accordance with accounting rules.
In addition, 2007 results included a net tax benefit of $288 million or $0.24 per share resulting from the completion of an IRS examination of the Company’s 2003-2004 U. S.  federal income tax returns, partly offset by the impact of a tax law change in Canada.
Income from discontinued operations was $60 million or $0.05 per share.
In 2006, net income and diluted net income per common share were $3.5 billion and $2.83.
Income from continuing operations was $2.9 billion or $2.29 per share, which included $134 million ($98 million after tax or $0.08 per share) of impairment and other charges primarily related to strategic actions taken to enhance overall profitability and improve returns, as well as $0.01 per share of net incremental income tax expense primarily related to the impact of a tax law change in Canada.
Income from discontinued operations was $678 million or $0.54 per share.
Refer to the Impairment and other charges, net and Discontinued operations sections for further discussion.
The Company repurchased 69.7 million shares of its stock for $4.0 billion in 2008 and 77.1 million shares for $3.9 billion in 2007, driving reductions of over 4% and 3% of total shares outstanding, respectively, net of stock option exercises.
maintenance and contract expenses incurred by our subsidiaries for external transportation services); materials used to maintain the Railroad’s lines, structures, and equipment; costs of operating facilities jointly used by UPRR and other railroads; transportation and lodging for train crew employees; trucking and contracting costs for intermodal containers; leased automobile maintenance expenses; and tools and supplies.
Expenses for contract services increased $103 million in 2012 versus 2011, primarily due to increased demand for transportation services purchased by our logistics subsidiaries for their customers and additional costs for repair and maintenance of locomotives and freight cars.
Expenses for contract services increased $106 million in 2011 versus 2010, driven by volume-related external transportation services incurred by our subsidiaries, and various other types of contractual services, including flood-related repairs, mitigation and improvements.
Volume-related crew transportation and lodging costs, as well as expenses associated with jointly owned operating facilities, also increased costs compared to 2010.
In addition, an increase in locomotive maintenance materials used to prepare a portion of our locomotive fleet for return to active service due to increased volume and additional capacity for weather related issues and warranty expirations increased expenses in 2011.
Depreciation – The majority of depreciation relates to road property, including rail, ties, ballast, and other track material.
A higher depreciable asset base, reflecting ongoing capital spending, increased depreciation expense in 2012 compared to 2011.
A higher depreciable asset base, reflecting ongoing capital spending, increased depreciation expense in 2011 compared to 2010.
Higher depreciation rates for rail and other track material also contributed to the increase.
The higher rates, which became effective January 1, 2011, resulted primarily from increased track usage (based on higher gross ton-miles in 2010).
Equipment and Other Rents – Equipment and other rents expense primarily includes rental expense that the Railroad pays for freight cars owned by other railroads or private companies; freight car, intermodal, and locomotive leases; and office and other rent expenses.
Increased automotive and intermodal shipments, partially offset by improved car-cycle times, drove an increase in our short-term freight car rental expense in 2012.
Conversely, lower locomotive lease expense partially offset the higher freight car rental expense.
Costs increased in 2011 versus 2010 as higher short-term freight car rental expense and container lease expense offset lower freight car and locomotive lease expense.
Other – Other expenses include personal injury, freight and property damage, destruction of equipment, insurance, environmental, bad debt, state and local taxes, utilities, telephone and cellular, employee travel, computer software, and other general expenses.
Other costs in 2012 were slightly higher than 2011 primarily due to higher property taxes.
Despite continual improvement in our safety experience and lower estimated annual costs, personal injury expense increased in 2012 compared to 2011, as the liability reduction resulting from historical claim experience was less than the reduction in 2011.
Higher property taxes, casualty costs associated with destroyed equipment, damaged freight and property and environmental costs increased other costs in 2011 compared to 2010.
A one-time payment of $45 million in the first quarter of 2010 related to a transaction with CSXI and continued improvement in our safety performance and lower estimated liability for personal injury, which reduced our personal injury expense year-over-year, partially offset increases in other costs.

<table><tr><td></td><td>Payment Due by Period</td></tr><tr><td>As of December 31, 2015 (in millions)</td><td>Total</td><td>Year 1</td><td>Years 2-3</td><td>Years 4-5</td><td>More than 5</td></tr><tr><td>Debtobligations<sup>(a)</sup></td><td>$52,727</td><td>$3,597</td><td>$6,842</td><td>$8,482</td><td>$33,806</td></tr><tr><td>Capital lease obligations</td><td>156</td><td>30</td><td>47</td><td>39</td><td>40</td></tr><tr><td>Operating lease obligations</td><td>3,459</td><td>452</td><td>782</td><td>608</td><td>1,617</td></tr><tr><td>Purchaseobligations<sup>(b)</sup></td><td>53,644</td><td>10,848</td><td>10,080</td><td>8,537</td><td>24,179</td></tr><tr><td>Other long-term liabilities reflected on the balance sheet<sup>(c)</sup></td><td>6,280</td><td>590</td><td>1,245</td><td>2,390</td><td>2,055</td></tr><tr><td>Total<sup>(d)(e)</sup></td><td>$116,266</td><td>$15,517</td><td>$18,996</td><td>$20,056</td><td>$61,697</td></tr></table>
<table><tr><td></td><td colspan="4">Three months ended</td></tr><tr><td></td><td> March 31 </td><td> June 30 </td><td> September 30 </td><td>December 31</td></tr><tr><td></td><td colspan="4">(in millions, except per share amounts)</td></tr><tr><td> 2005</td><td></td><td></td><td></td><td></td></tr><tr><td>Total revenues</td><td>$7,721</td><td>$8,318</td><td>$7,787</td><td>$7,882</td></tr><tr><td>Total benefits and expenses</td><td>6,403</td><td>7,002</td><td>6,670</td><td>7,162</td></tr><tr><td>Income from continuing operations before income taxes, extraordinary gain on acquisition and cumulative effect of accountingchange</td><td>1,318</td><td>1,316</td><td>1,117</td><td>720</td></tr><tr><td>Net income</td><td>929</td><td>883</td><td>1,364</td><td>364</td></tr><tr><td>Basic income from continuing operations before extraordinary gain on acquisition and cumulative effect of accounting change pershare—Common Stock-1</td><td>1.51</td><td>1.59</td><td>2.66</td><td>0.80</td></tr><tr><td>Diluted income from continuing operations before extraordinary gain on acquisition and cumulative effect of accounting change pershare—Common Stock-1</td><td>1.49</td><td>1.56</td><td>2.61</td><td>0.78</td></tr><tr><td>Basic net income per share—Common Stock-1</td><td>1.51</td><td>1.50</td><td>2.63</td><td>0.79</td></tr><tr><td>Diluted net income per share—Common Stock-1</td><td>1.49</td><td>1.48</td><td>2.59</td><td>0.78</td></tr><tr><td>Basic and diluted net income (loss) per share—Class B Stock</td><td>70.50</td><td>53.50</td><td>11.50</td><td>-16.00</td></tr><tr><td> 2004</td><td></td><td></td><td></td><td></td></tr><tr><td>Total revenues</td><td>$6,692</td><td>$6,844</td><td>$7,299</td><td>$7,288</td></tr><tr><td>Total benefits and expenses</td><td>5,985</td><td>6,155</td><td>6,228</td><td>6,387</td></tr><tr><td>Income from continuing operations before income taxes, extraordinary gain on acquisition and cumulative effect of accountingchange</td><td>707</td><td>689</td><td>1,071</td><td>901</td></tr><tr><td>Net income</td><td>401</td><td>549</td><td>728</td><td>578</td></tr><tr><td>Basic income from continuing operations before extraordinary gain on acquisition and cumulative effect of accounting change pershare—Common Stock-1</td><td>0.75</td><td>1.02</td><td>1.14</td><td>0.78</td></tr><tr><td>Diluted income from continuing operations before extraordinary gain on acquisition and cumulative effect of accounting change pershare—Common Stock-1</td><td>0.73</td><td>1.00</td><td>1.11</td><td>0.76</td></tr><tr><td>Basic net income per share—Common Stock-1</td><td>0.58</td><td>1.04</td><td>1.11</td><td>0.65</td></tr><tr><td>Diluted net income per share—Common Stock-1</td><td>0.57</td><td>1.02</td><td>1.08</td><td>0.64</td></tr><tr><td>Basic and diluted net income per share—Class B Stock</td><td>46.00</td><td>3.50</td><td>79.00</td><td>120.50</td></tr></table>
<table><tr><td></td><td>2017</td><td>2016</td></tr><tr><td></td><td colspan="2">(Dollars in thousands)</td></tr><tr><td>Deferred tax assets:</td><td></td><td></td></tr><tr><td>Tax loss and credit carryforwards</td><td>$210,055</td><td>$136,046</td></tr><tr><td>Pension</td><td>28,147</td><td>46,563</td></tr><tr><td>Reserves and accruals</td><td>62,378</td><td>52,343</td></tr><tr><td>Other</td><td>3,619</td><td>17,704</td></tr><tr><td>Less: valuation allowances</td><td>-104,799</td><td>-104,520</td></tr><tr><td>Total deferred tax assets</td><td>199,400</td><td>148,136</td></tr><tr><td>Deferred tax liabilities:</td><td></td><td></td></tr><tr><td>Property, plant and equipment</td><td>22,299</td><td>32,209</td></tr><tr><td>Intangibles — stock acquisitions</td><td>553,245</td><td>321,707</td></tr><tr><td>Unremitted foreign earnings</td><td>223,494</td><td>63,419</td></tr><tr><td>Other</td><td>228</td><td>466</td></tr><tr><td>Total deferred tax liabilities</td><td>799,266</td><td>417,801</td></tr><tr><td>Net deferred tax liability</td><td>$-599,866</td><td>$-269,665</td></tr></table>
<table><tr><td></td><td>2008</td><td>2007</td><td>2006</td></tr><tr><td>Total cash provided by (used in):</td><td></td><td></td><td></td></tr><tr><td>Operating activities</td><td>$2,025</td><td>$1,762</td><td>$1,740</td></tr><tr><td>Investing activities</td><td>1,464</td><td>-780</td><td>-754</td></tr><tr><td>Financing activities</td><td>-3,378</td><td>-513</td><td>-619</td></tr><tr><td>Effect of exchange rate changes on cash</td><td>122</td><td>-12</td><td>27</td></tr><tr><td>Increase in cash and cash equivalents</td><td>$233</td><td>$457</td><td>$394</td></tr></table>
<table><tr><td></td><td colspan="2">Principal Concentrate and/or Syrup Plants</td><td colspan="2">Principal Beverage Manufacturing/Bottling Plants</td><td colspan="2">Distribution and Storage Warehouses</td></tr><tr><td></td><td>Owned</td><td>Leased</td><td>Owned</td><td>Leased</td><td>Owned</td><td>Leased</td></tr><tr><td>Europe, Middle East & Africa</td><td>6</td><td>—</td><td>—</td><td>—</td><td>—</td><td>1</td></tr><tr><td>Latin America</td><td>5</td><td>—</td><td>—</td><td>—</td><td>2</td><td>6</td></tr><tr><td>North America</td><td>11</td><td>—</td><td>9</td><td>1</td><td>—</td><td>41</td></tr><tr><td>Asia Pacific</td><td>6</td><td>—</td><td>—</td><td>—</td><td>2</td><td>9</td></tr><tr><td>Bottling Investments</td><td>—</td><td>—</td><td>45</td><td>5</td><td>64</td><td>69</td></tr><tr><td>Corporate</td><td>3</td><td>—</td><td>—</td><td>—</td><td>—</td><td>7</td></tr><tr><td>Total<sup>1</sup></td><td>31</td><td>—</td><td>54</td><td>6</td><td>68</td><td>133</td></tr></table>
<table><tr><td><i>Dollars in millions, except per share data</i></td><td> <i>2008</i></td><td><i>2007<sup>-1</sup></i></td><td>Latam Transaction -1</td><td><i>2007</i><i>Excluding</i><i>Latam</i><i>Transaction</i></td><td><i>2006</i></td><td> <i>2008 Adjusted</i> <i>% Inc</i></td><td><i>2007 Adjusted</i><i>% Inc</i></td></tr><tr><td>Operating income</td><td>$6,443</td><td>$3,879</td><td>$-1,641</td><td>$5,520</td><td>$4,433</td><td> 17</td><td>25</td></tr><tr><td>Income from continuing operations</td><td>4,313</td><td>2,335</td><td>-1,579</td><td>3,914</td><td>2,866</td><td> 10</td><td>37</td></tr><tr><td>Income from discontinued operations</td><td></td><td>60</td><td></td><td>60</td><td>678</td><td> nm</td><td>nm</td></tr><tr><td>Net income</td><td>4,313</td><td>2,395</td><td>-1,579</td><td>3,974</td><td>3,544</td><td> 9</td><td>12</td></tr><tr><td><i>Income per common share – diluted</i></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Continuing operations<i><sup>-2,3</sup></i></td><td>3.76</td><td>1.93</td><td>-1.30</td><td>3.23</td><td>2.29</td><td> 16</td><td>41</td></tr><tr><td>Discontinued operations</td><td></td><td>0.05</td><td></td><td>0.05</td><td>0.54</td><td> nm</td><td>nm</td></tr><tr><td>Net income<i><sup>-2,3</sup></i></td><td>3.76</td><td>1.98</td><td>-1.30</td><td>3.28</td><td>2.83</td><td> 15</td><td>16</td></tr></table>

Question: What is the proportion of all March 31 of Three months ended that are greater than 6000 to the total amount of March 31 of Three months ended in 2005?
Answer: 0.85873