product provided to the endorsers will depend on many factors including general playing conditions , the number of sporting events in which they participate , and our own decisions regarding product and marketing initiatives .in addition , the costs to design , develop , source , and purchase the products furnished to the endorsers are incurred over a period of time and are not necessarily tracked separately from similar costs incurred for products sold to customers .( 2 ) we generally order product at least four to five months in advance of sale based primarily on advanced futures orders received from customers .the amounts listed for product purchase obligations represent agreements ( including open purchase orders ) to purchase products in the ordinary course of business , that are enforceable and legally binding and that specify all significant terms .in some cases , prices are subject to change throughout the production process .the reported amounts exclude product purchase liabilities included in accounts payable on the consolidated balance sheet as of may 31 , 2009 .( 3 ) other amounts primarily include service and marketing commitments made in the ordinary course of business .the amounts represent the minimum payments required by legally binding contracts and agreements that specify all significant terms , including open purchase orders for non-product purchases .the reported amounts exclude those liabilities included in accounts payable or accrued liabilities on the consolidated balance sheet as of may 31 , 2009 .the total liability for uncertain tax positions was $ 273.9 million , excluding related interest and penalties , at may 31 , 2009 .we are not able to reasonably estimate when or if cash payments of the long-term liability for uncertain tax positions will occur .we also have the following outstanding short-term debt obligations as of may 31 , 2009 .please refer to the accompanying notes to the consolidated financial statements ( note 7 2014 short-term borrowings and credit lines ) for further description and interest rates related to the short-term debt obligations listed below .outstanding as of may 31 , 2009 ( in millions ) notes payable , due at mutually agreed-upon dates within one year of issuance or on demand ...........................................................$ 342.9 payable to sojitz america for the purchase of inventories , generally due 60 days after shipment of goods from a foreign port ...............................$ 78.5 as of may 31 , 2009 , letters of credit of $ 154.8 million were outstanding , generally for the purchase of inventory .capital resources in december 2008 , we filed a shelf registration statement with the securities and exchange commission under which $ 760 million in debt securities may be issued .as of may 31 , 2009 , no debt securities had been issued under this shelf registration .we may issue debt securities under the shelf registration in fiscal 2010 depending on general corporate needs .as of may 31 , 2009 , we had no amounts outstanding under our multi-year , $ 1 billion revolving credit facility in place with a group of banks .the facility matures in december 2012 .based on our current long-term senior unsecured debt ratings of a+ and a1 from standard and poor 2019s corporation and moody 2019s investor services , respectively , the interest rate charged on any outstanding borrowings would be the prevailing london interbank offer rate ( 201clibor 201d ) plus 0.15% ( 0.15 % ) .the facility fee is 0.05% ( 0.05 % ) of the total commitment .if our long-term debt rating were to decline , the facility fee and interest rate under our committed credit facility would increase .conversely , if our long-term debt rating were to improve , the facility fee and interest rate would decrease .changes in our long-term debt rating would not trigger acceleration of maturity of any then outstanding borrowings or any future borrowings under the committed credit facility .under this committed credit facility , we have agreed to various covenants .these covenants include limits on our disposal of fixed assets and the amount of debt secured by liens we may incur as well as a minimum capitalization ratio .in the .
[['', 'outstanding as of may 31 2009 ( in millions )'], ['notes payable due at mutually agreed-upon dates within one year of issuance or on demand', '$ 342.9'], ['payable to sojitz america for the purchase of inventories generally due 60 days after shipment of goods from a foreign port', '$ 78.5']]
product provided to the endorsers will depend on many factors including general playing conditions , the number of sporting events in which they participate , and our own decisions regarding product and marketing initiatives .in addition , the costs to design , develop , source , and purchase the products furnished to the endorsers are incurred over a period of time and are not necessarily tracked separately from similar costs incurred for products sold to customers .( 2 ) we generally order product at least four to five months in advance of sale based primarily on advanced futures orders received from customers .the amounts listed for product purchase obligations represent agreements ( including open purchase orders ) to purchase products in the ordinary course of business , that are enforceable and legally binding and that specify all significant terms .in some cases , prices are subject to change throughout the production process .the reported amounts exclude product purchase liabilities included in accounts payable on the consolidated balance sheet as of may 31 , 2009 .( 3 ) other amounts primarily include service and marketing commitments made in the ordinary course of business .the amounts represent the minimum payments required by legally binding contracts and agreements that specify all significant terms , including open purchase orders for non-product purchases .the reported amounts exclude those liabilities included in accounts payable or accrued liabilities on the consolidated balance sheet as of may 31 , 2009 .the total liability for uncertain tax positions was $ 273.9 million , excluding related interest and penalties , at may 31 , 2009 .we are not able to reasonably estimate when or if cash payments of the long-term liability for uncertain tax positions will occur .we also have the following outstanding short-term debt obligations as of may 31 , 2009 .please refer to the accompanying notes to the consolidated financial statements ( note 7 2014 short-term borrowings and credit lines ) for further description and interest rates related to the short-term debt obligations listed below .outstanding as of may 31 , 2009 ( in millions ) notes payable , due at mutually agreed-upon dates within one year of issuance or on demand ...........................................................$ 342.9 payable to sojitz america for the purchase of inventories , generally due 60 days after shipment of goods from a foreign port ...............................$ 78.5 as of may 31 , 2009 , letters of credit of $ 154.8 million were outstanding , generally for the purchase of inventory .capital resources in december 2008 , we filed a shelf registration statement with the securities and exchange commission under which $ 760 million in debt securities may be issued .as of may 31 , 2009 , no debt securities had been issued under this shelf registration .we may issue debt securities under the shelf registration in fiscal 2010 depending on general corporate needs .as of may 31 , 2009 , we had no amounts outstanding under our multi-year , $ 1 billion revolving credit facility in place with a group of banks .the facility matures in december 2012 .based on our current long-term senior unsecured debt ratings of a+ and a1 from standard and poor 2019s corporation and moody 2019s investor services , respectively , the interest rate charged on any outstanding borrowings would be the prevailing london interbank offer rate ( 201clibor 201d ) plus 0.15% ( 0.15 % ) .the facility fee is 0.05% ( 0.05 % ) of the total commitment .if our long-term debt rating were to decline , the facility fee and interest rate under our committed credit facility would increase .conversely , if our long-term debt rating were to improve , the facility fee and interest rate would decrease .changes in our long-term debt rating would not trigger acceleration of maturity of any then outstanding borrowings or any future borrowings under the committed credit facility .under this committed credit facility , we have agreed to various covenants .these covenants include limits on our disposal of fixed assets and the amount of debt secured by liens we may incur as well as a minimum capitalization ratio .in the .

Question: what percent of the total amount outstanding is due to notes payable due at mutually agreed-upon dates within one year of issuance or on demand?
Answer: 81%