A summary of these various obligations at December 31, 2012, follows (in millions):
## Table 0 ##
a.
Represents estimated cash payments, on an undiscounted and unescalated basis, associated with reclamation and environmental activities.
The timing and the amount of these payments could change as a result of changes in regulatory requirements, changes in scope and timing of reclamation activities, the settlement of environmental matters and as actual spending occurs.
Refer to Note 13 for additional discussion of environmental and reclamation matters.
b.
Represents contractual obligations for purchases of goods or services that are defined by us as agreements that are enforceable and legally binding and that specify all significant terms.
Take-orpay contracts primarily comprise the procurement of copper concentrates ($799 million), electricity ($524 million) and transportation services ($448 million).
Some of our take-or-pay contracts are settled based on the prevailing market rate for the service or commodity purchased, and in some cases, the amount of the actual obligation may change over time because of market conditions.
Obligations for copper concentrates provide for deliveries of specified volumes to Atlantic Copper at market-based prices.
Electricity obligations are primarily for contractual minimum demand at the South America and Tenke mines.
Transportation obligations are primarily for South America contracted ocean freight and for North America rail freight.
c.  Scheduled interest payment obligations were calculated using stated coupon rates for fixed-rate debt and interest rates applicable at December 31, 2012, for variable-rate debt.
d.  This table excludes certain other obligations in our consolidated balance sheets, including estimated funding for pension obligations as the funding may vary from year to year based on changes in the fair value of plan assets and actuarial assumptions, accrued liabilities totaling $107 million that relate to unrecognized tax benefits where the timing of settlement is not determinable; Atlantic Copper's obligations for retired employees totaling $38 million (refer to Note 10); and PT Freeport Indonesia's reclamation and closure cash fund obligation totaling $17 million (refer to Note 13).
This table also excludes purchase orders for the purchase of inventory and other goods and services, as purchase orders typically represent authorizations to purchase rather than binding agreements.
In addition to our debt maturities and other contractual obligations discussed above, we have other commitments, which we expect to fund with available cash, projected operating cash flows, available credit facility or future financing transactions, if necessary.
These include (i) PT Freeport Indonesia’s commitment to provide one percent of its annual revenue for the development of the local people in its area of operations through the Freeport Partnership Fund for Community Development, (ii) TFM’s commitment to provide 0.3 percent of its annual revenue for the development of the local people in its area of operations and (iii) other commercial commitments, including standby letters of credit, surety bonds and guarantees.
Refer to Notes 13 and 14 for further discussion.
CONTINGENCIES Environmental The cost of complying with environmental laws is a fundamental and substantial cost of our business.
At December 31, 2012, we had $1.2 billion recorded in our consolidated balance sheets for environmental obligations attributed to CERCLA or analogous state programs and for estimated future costs associated with environmental obligations that are considered probable based on specific facts and circumstances.
During 2012, we incurred environmental capital expenditures and other environmental costs (including our joint venture partners’ shares) of $612 million for programs to comply with applicable environmental laws and regulations that affect our operations, compared to $387 million in 2011 and $372 million in 2010.
The increase in environmental costs in 2012, compared with 2011 and 2010, primarily relates to higher expenditures for land and settlements of environmental matters (see Note 13 for further discussion).
For 2013, we expect to incur approximately $600 million of aggregate environmental capital expenditures and other environmental costs, which are part of our overall 2013 operating budget.
The timing and amount of estimated payments could change as a result of changes in regulatory requirements, changes in scope and timing of reclamation activities, the settlement of environmental matters and as actual spending occurs.
Refer to Note 13 for further information about environmental regulation, including significant environmental matters.
Asset Retirement Obligations We recognize AROs as liabilities when incurred, with the initial measurement at fair value.
These obligations, which are initially estimated based on discounted cash flow estimates, are accreted to full value over time through charges to income.
Reclamation costs for disturbances are recorded as an ARO in the period of disturbance.
Our cost estimates are reflected on a third-party cost basis and comply with our legal obligation to retire tangible, long-lived assets.
At December 31, 2012, we had $1.1 billion recorded in our consolidated balance sheets for AROs.
Spending
ILLUMINA, INC.  NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued) Advertising Costs The Company expenses advertising costs as incurred.
Advertising costs were approximately $440,000 for 2003, $267,000 for 2002 and $57,000 for 2001.
Income Taxes A deferred income tax asset or liability is computed for the expected future impact of differences between the financial reporting and tax bases of assets and liabilities, as well as the expected future tax benefit to be derived from tax loss and credit carryforwards.
Deferred income tax expense is generally the net change during the year in the deferred income tax asset or liability.
Valuation allowances are established when realizability of deferred tax assets is uncertain.
The effect of tax rate changes is reflected in tax expense during the period in which such changes are enacted.
Foreign Currency Translation The functional currencies of the Company’s wholly owned subsidiaries are their respective local currencies.
Accordingly, all balance sheet accounts of these operations are translated to U. S.  dollars using the exchange rates in effect at the balance sheet date, and revenues and expenses are translated using the average exchange rates in effect during the period.
The gains and losses from foreign currency translation of these subsidiaries’ financial statements are recorded directly as a separate component of stockholders’ equity under the caption ‘‘Accumulated other comprehensive income.
’’ Stock-Based Compensation At December 28, 2003, the Company has three stock-based employee and non-employee director compensation plans, which are described more fully in Note 5.
As permitted by SFAS No.123, Accounting for Stock-Based Compensation, the Company accounts for common stock options granted, and restricted stock sold, to employees, founders and directors using the intrinsic value method and, thus, recognizes no compensation expense for options granted, or restricted stock sold, with exercise prices equal to or greater than the fair value of the Company’s common stock on the date of the grant.
The Company has recorded deferred stock compensation related to certain stock options, and restricted stock, which were granted prior to the Company’s initial public offering with exercise prices below estimated fair value (see Note 5), which is being amortized on an accelerated amortization methodology in accordance with Financial Accounting Standards Board Interpretation Number (‘‘FIN’’) 28.
Pro forma information regarding net loss is required by SFAS No.123 and has been determined as if the Company had accounted for its employee stock options and employee stock purchases under the fair value method of that statement.
The fair value for these options was estimated at the dates of grant using the fair value option pricing model (Black Scholes) with the following weighted-average assumptions for 2003, 2002 and 2001:
## Table 1 ##
The Company renewed an unsecured bank credit line on April 29, 2010 which provides for funding of up to $5,000 and bears interest at the prime rate less 1% (2.25% at June 30, 2010).
The credit line was renewed through April 29, 2012.
At June 30, 2010, $762 was outstanding.
The Company renewed a bank credit line on March 7, 2010 which provides for funding of up to $8,000 and bears interest at the Federal Reserve Board’s prime rate (3.25% at June 30, 2010).
The credit line expires March 7, 2011 and is secured by $1,000 of investments.
At June 30, 2010, no amount was outstanding.
The Company has entered into a bank credit facility agreement that includes a revolving loan, a term loan and a bullet term loan.
The revolving loan allows short-term borrowings of up to $150,000, which may be increased by the Company at any time until maturity to $250,000.
The revolving loan terminates June 4, 2015.
At June 30, 2010, the outstanding revolving loan balance was $120,000.
The term loan has an original principal balance of $150,000, with quarterly principal payments of $5,625 beginning on September 30, 2011, and the remaining balance due June 4, 2015.
The bullet term loan had an original principal balance of $100,000.
The full balance, which would have been due on December 4, 2010, was paid in full on July 8, 2010 as set forth in Note 15 to the Consolidated Financial Statements (see Item 8).
Each of the loans bear interest at a variable rate equal to (a) a rate based on LIBOR or (b) an alternate base rate (the greater of (a) the Federal Funds Rate plus 0.5%, (b) the Prime Rate or (c) LIBOR plus 1.0%), plus an applicable percentage in each case determined by the Company’s leverage ratio.
The outstanding balances bear interest at a weighted average rate of 2.99%.
The loans are secured by pledges of capital stock of certain subsidiaries of the Company.
The loans are also guaranteed by certain subsidiaries of the Company.
The credit facility is subject to various financial covenants that require the Company to maintain certain financial ratios as defined in the agreement.
As of June 30, 2010, the Company was in compliance with all such covenants.
The Company has entered into various capital lease obligations for the use of certain computer equipment.
Included in property and equipment are related assets of $8,872.
At June 30, 2010, $5,689 was outstanding, of which $4,380 will be maturing in the next twelve months.
Contractual Obligations and Other Commitments At June 30, 2010 the Company’s total off balance sheet contractual obligations were $36,935.
This balance consists of $27,228 of long-term operating leases for various facilities and equipment which expire from 2011 to 2017 and the remaining $9,707 is for purchase commitments related to property and equipment, particularly for contractual obligations related to the on-going construction of new facilities.
The table excludes $7,548 of liabilities for uncertain tax positions as we are unable to reasonably estimate the ultimate amount or timing of settlement.
Contractual obligations by Less than More than
## Table 2 ##
Recent Accounting Pronouncements In December 2007, the Financial Accounting Standards Board (“FASB”) issued Statement on Financial Accounting Standards (“SFAS”) No.141(R), “Business Combinations,” (“SFAS 141(R)”) which replaces SFAS No.141 and has since been incorporated into the Accounting Standards Codification (“ASC”) as ASC 805-10.
ASC 805-10 establishes principles and requirements for how an acquirer recognizes and measures in its financial statements the identifiable assets acquired, the liabilities assumed, any non-controlling interest in the acquired entity and the goodwill acquired.
The Statement also establishes disclosure requirements which will enable users of the financial statements to evaluate the nature and financial effects of the business combination.
Relative to SFAS 141(R), the FASB issued FSP 141(R)-1 on April 1, 2009, which is now incorporated in ASC 805-20.
ASC 805-20 eliminates the requirement under FAS 141(R) to record assets and liabilities at the acquisition date for noncontractual contingencies at fair value where it is deemed “more-likely-than-not” that an asset or liability would result.
Under ASC 805-20, such assets and liabilities would only need to be recorded where the fair value can be determined during the measurement period or where it is probable that an asset or liability exists at the acquisition date and the amount of fair value can be reasonably determined.
ASC 805-10 was effective for the Company on July 1, 2009.
The adoption
Insurance.
The following table presents the underwriting results and ratios for the Insurance segment for the periods indicated.
## Table 3 ##
Premiums.
Gross written premiums increased by 10.0% to $1,073.1 million in 2012 compared to $975.6 million in 2011.
This increase was primarily driven by crop and primary A&H medical stop loss business, partially offset by the termination and runoff of several large casualty programs.
Net written premiums increased 3.9% to $852.1 million in 2012 compared to $820.5 million in 2011.
The lower increase in net written premiums in comparison to gross written premiums is primarily attributable to a higher level of reinsurance employed for the crop business.
Premiums earned increased 3.8% to $852.4 million in 2012 compared to $821.2 million in 2011.
The change in premiums earned is relatively consistent with the increase in net written premiums.
Gross written premiums increased by 12.7% to $975.6 million in 2011 compared to $865.4 million in 2010.
This was due to strategic portfolio changes with growth in short-tail business, primarily driven by the acquisition of Heartland, which provided $169.6 million of new crop insurance premium in 2011 and $54.0 million growth in A&H primary business, partially offset by the reduction of a large casualty program.
Net written premiums increased 32.3% to $820.5 million in 2011 compared to $620.3 million for the same period in 2010 due to higher gross premiums and reduced levels of ceded reinsurance, primarily due to the reduction of the large casualty program.
Premiums earned increased 28.1% to $821.2 million in 2011 compared to $641.1 million in 2010.
The change in premiums earned is relatively consistent with the increase in net written premiums.

<table><tr><td></td><td>Total</td><td>2013</td><td>2014 to2015</td><td>2016 to2017</td><td>Thereafter</td></tr><tr><td>Reclamation and environmental obligations<sup>a</sup></td><td>$5,243</td><td>$246</td><td>$471</td><td>$329</td><td>$4,197</td></tr><tr><td>Debt maturities</td><td>3,527</td><td>2</td><td>500</td><td>500</td><td>2,525</td></tr><tr><td>Take-or-pay contracts<sup>b</sup></td><td>2,200</td><td>976</td><td>731</td><td>286</td><td>207</td></tr><tr><td>Scheduled interest payment obligations<sup>c</sup></td><td>1,289</td><td>121</td><td>241</td><td>226</td><td>701</td></tr><tr><td>Operating lease obligations</td><td>205</td><td>32</td><td>38</td><td>31</td><td>104</td></tr><tr><td>Total<sup>d</sup></td><td>$12,464</td><td>$1,377</td><td>$1,981</td><td>$1,372</td><td>$7,734</td></tr></table>
<table><tr><td></td><td>Year Ended  December 28,  2003</td><td>Year Ended  December 29,  2002</td><td>Year Ended  December 30,  2001</td></tr><tr><td>Weighted average risk-free interest rate</td><td>3.03%</td><td>3.73%</td><td>4.65%</td></tr><tr><td>Expected dividend yield</td><td>0%</td><td>0%</td><td>0%</td></tr><tr><td>Weighted average volatility</td><td>103%</td><td>104%</td><td>119%</td></tr><tr><td>Estimated life (in years)</td><td>5</td><td>5</td><td>5</td></tr><tr><td>Weighted average fair value of options granted</td><td>$3.31</td><td>$4.39</td><td>$7.51</td></tr></table>
<table><tr><td>Contractual obligations by</td><td rowspan="2">Less than 1 year</td><td></td><td></td><td rowspan="2">More than 5 years</td><td></td></tr><tr><td>period as of June 30, 2010</td><td>1-3 years</td><td>3-5 years</td><td>TOTAL</td></tr><tr><td>Operating lease obligations</td><td>$ 8,765</td><td>$ 9,422</td><td>$ 5,851</td><td>$ 3,190</td><td>$ 27,228</td></tr><tr><td>Capital lease obligations</td><td>4,380</td><td>1,309</td><td>-</td><td>-</td><td>5,689</td></tr><tr><td>Notes payable, including accrued interest</td><td>102,493</td><td>46,210</td><td>225,213</td><td>-</td><td>373,916</td></tr><tr><td>Purchase obligations</td><td>9,707</td><td>-</td><td>-</td><td>-</td><td>9,707</td></tr><tr><td>Total</td><td>$125,345</td><td>$56,941</td><td>$231,064</td><td>$3,190</td><td>$416,540</td></tr></table>
<table><tr><td></td><td colspan="3">Years Ended December 31,</td><td colspan="2">2012/2011</td><td colspan="2">2011/2010</td></tr><tr><td>(Dollars in millions)</td><td>2012</td><td>2011</td><td>2010</td><td>Variance</td><td>% Change</td><td>Variance</td><td>% Change</td></tr><tr><td>Gross written premiums</td><td>$1,073.1</td><td>$975.6</td><td>$865.4</td><td>$97.5</td><td>10.0%</td><td>$110.3</td><td>12.7%</td></tr><tr><td>Net written premiums</td><td>852.1</td><td>820.5</td><td>620.3</td><td>31.6</td><td>3.9%</td><td>200.2</td><td>32.3%</td></tr><tr><td>Premiums earned</td><td>$852.4</td><td>$821.2</td><td>$641.1</td><td>$31.3</td><td>3.8%</td><td>$180.1</td><td>28.1%</td></tr><tr><td>Incurred losses and LAE</td><td>700.3</td><td>705.9</td><td>536.8</td><td>-5.6</td><td>-0.8%</td><td>169.2</td><td>31.5%</td></tr><tr><td>Commission and brokerage</td><td>117.6</td><td>137.7</td><td>120.8</td><td>-20.1</td><td>-14.6%</td><td>16.9</td><td>14.0%</td></tr><tr><td>Other underwriting expenses</td><td>103.0</td><td>89.5</td><td>69.7</td><td>13.5</td><td>15.1%</td><td>19.8</td><td>28.5%</td></tr><tr><td>Underwriting gain (loss)</td><td>$-68.5</td><td>$-111.9</td><td>$-86.1</td><td>$43.5</td><td>-38.8%</td><td>$-25.8</td><td>30.0%</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td>Point Chg</td><td></td><td>Point Chg</td></tr><tr><td>Loss ratio</td><td>82.2%</td><td>86.0%</td><td>83.7%</td><td></td><td>-3.8</td><td></td><td>2.3</td></tr><tr><td>Commission and brokerage ratio</td><td>13.8%</td><td>16.8%</td><td>18.8%</td><td></td><td>-3.0</td><td></td><td>-2.0</td></tr><tr><td>Other underwriting expense ratio</td><td>12.0%</td><td>10.8%</td><td>10.9%</td><td></td><td>1.2</td><td></td><td>-0.1</td></tr><tr><td>Combined ratio</td><td>108.0%</td><td>113.6%</td><td>113.4%</td><td></td><td>-5.6</td><td></td><td>0.2</td></tr><tr><td colspan="2">(Some amounts may not reconcile due to rounding.)</td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table>

Question: In the year with the mostGross written premiums what is the growth rate of Premiums earned?
Answer: 0.0366