loan activity .from time to time , we make loans to owners of hotels that we operate or franchise .loan collections , net of loan advances , amounted to $ 35 million in 2018 , compared to net collections of $ 94 million in 2017 .at year-end 2018 , we had $ 131 million of senior , mezzanine , and other loans outstanding , compared to $ 149 million outstanding at year-end 2017 .equity method investments .cash outflows of $ 72 million in 2018 , $ 62 million in 2017 , and $ 13 million in 2016 for equity method investments primarily reflect our investments in several joint ventures .financing activities cash flows debt .debt increased by $ 1109 million in 2018 , to $ 9347 million at year-end 2018 from $ 8238 million at year-end 2017 , primarily due to the issuance of our series x , y , z , and aa notes , partially offset by the maturity of our series s notes ( $ 330 million ) and lower outstanding commercial paper ( $ 126 million ) .see footnote 10 .long-term debt for additional information on the debt issuances .our financial objectives include diversifying our financing sources , optimizing the mix and maturity of our long-term debt , and reducing our working capital .at year-end 2018 , our long-term debt had a weighted average interest rate of 3.3 percent and a weighted average maturity of approximately 4.8 years .the ratio of our fixed-rate long-term debt to our total long-term debt was 0.7 to 1.0 at year-end 2018 .see the 201ccash requirements and our credit facility , 201d caption in this 201cliquidity and capital resources 201d section for more information on our credit facility .share repurchases .we purchased 21.5 million shares of our common stock in 2018 at an average price of $ 130.67 per share , 29.2 million shares in 2017 at an average price of $ 103.66 per share , and 8.0 million shares in 2016 at an average price of $ 71.55 per share .at year-end 2018 , 10.7 million shares remained available for repurchase under board approved authorizations , and on february 15 , 2019 , our board of directors further increased our common stock repurchase authorization by 25 million shares .for additional information , see 201cfourth quarter 2018 issuer purchases of equity securities 201d in part ii , item 5 .dividends .our board of directors declared the following quarterly cash dividends in 2018 : ( 1 ) $ 0.33 per share declared on february 9 , 2018 and paid march 30 , 2018 to shareholders of record on february 23 , 2018 , ( 2 ) $ 0.41 per share declared on may 4 , 2018 and paid june 29 , 2018 to shareholders of record on may 18 , 2018 , ( 3 ) $ 0.41 per share declared on august 9 , 2018 and paid september 28 , 2018 to shareholders of record on august 23 , 2018 , and ( 4 ) $ 0.41 per share declared on november 8 , 2018 and paid december 31 , 2018 to shareholders of record on november 21 , 2018 .our board of directors declared a cash dividend of $ 0.41 per share on february 15 , 2019 , payable on march 29 , 2019 to shareholders of record on march 1 , 2019 .contractual obligations and off-balance sheet arrangements contractual obligations the following table summarizes our contractual obligations at year-end 2018: .
[['( $ in millions )', 'total', 'payments due by period less than1 year', 'payments due by period 1-3 years', 'payments due by period 3-5 years', 'payments due by period after5 years'], ['debt ( 1 )', '$ 10483', '$ 1074', '$ 4392', '$ 2054', '$ 2963'], ['capital lease obligations ( 1 )', '230', '13', '26', '26', '165'], ['operating leases where we are the primary obligor', '2073', '171', '315', '292', '1295'], ['purchase obligations', '286', '153', '116', '17', '2014'], ['other noncurrent liabilities', '136', '3', '28', '20', '85'], ['total contractual obligations', '$ 13208', '$ 1414', '$ 4877', '$ 2409', '$ 4508']]
( 1 ) includes principal as well as interest payments .the preceding table does not reflect transition tax payments totaling $ 507 million as a result of the 2017 tax act .in addition , the table does not reflect unrecognized tax benefits at year-end 2018 of $ 559 million .in addition to the purchase obligations noted in the preceding table , in the normal course of business we enter into purchase commitments to manage the daily operating needs of the hotels that we manage .since we are reimbursed from the cash flows of the hotels , these obligations have minimal impact on our net income and cash flow. .

Question: of the total contractual obligations and off-balance sheet arrangements contractual obligations what percentage is due to operating leases where we are the primary obligor?
Answer: 16%