republic services , inc .notes to consolidated financial statements 2014 ( continued ) we determine the discount rate used in the measurement of our obligations based on a model that matches the timing and amount of expected benefit payments to maturities of high quality bonds priced as of the plan measurement date .when that timing does not correspond to a published high-quality bond rate , our model uses an expected yield curve to determine an appropriate current discount rate .the yields on the bonds are used to derive a discount rate for the liability .the term of our obligation , based on the expected retirement dates of our workforce , is approximately seven years .in developing our expected rate of return assumption , we have evaluated the actual historical performance and long-term return projections of the plan assets , which give consideration to the asset mix and the anticipated timing of the plan outflows .we employ a total return investment approach whereby a mix of equity and fixed income investments are used to maximize the long-term return of plan assets for what we consider a prudent level of risk .the intent of this strategy is to minimize plan expenses by outperforming plan liabilities over the long run .risk tolerance is established through careful consideration of plan liabilities , plan funded status and our financial condition .the investment portfolio contains a diversified blend of equity and fixed income investments .furthermore , equity investments are diversified across u.s .and non-u.s .stocks as well as growth , value , and small and large capitalizations .derivatives may be used to gain market exposure in an efficient and timely manner ; however , derivatives may not be used to leverage the portfolio beyond the market value of the underlying investments .investment risk is measured and monitored on an ongoing basis through annual liability measurements , periodic asset and liability studies , and quarterly investment portfolio reviews .the following table summarizes our target asset allocation as of december 31 , 2018 and the actual asset allocation as of december 31 , 2018 and 2017 for our plan : december 31 , target allocation december 31 , actual allocation december 31 , actual allocation .
[['', 'december 31 2018 targetassetallocation', 'december 31 2018 actualassetallocation', 'december 31 2017 actualassetallocation'], ['debt securities', '82% ( 82 % )', '83% ( 83 % )', '70% ( 70 % )'], ['equity securities', '18', '17', '30'], ['total', '100% ( 100 % )', '100% ( 100 % )', '100% ( 100 % )']]
asset allocations are reviewed and rebalanced periodically based on funded status .for 2019 , the investment strategy for plan assets is to maintain a broadly diversified portfolio designed to achieve our target of an average long-term rate of return of 5.20% ( 5.20 % ) .while we believe we can achieve a long-term average return of 5.20% ( 5.20 % ) , we cannot be certain that the portfolio will perform to our expectations .assets are strategically allocated among debt and equity portfolios to achieve a diversification level that reduces fluctuations in investment returns .asset allocation target ranges and strategies are reviewed periodically with the assistance of an independent external consulting firm. .

Question: based on the december 31 2018 target what was the debt to equity ratio
Answer: 4.6
Explanation: the company is funded primarily by debt with $ 4.6 for very dollar of equity