our initial estimate of fraud losses , fines and other charges on our understanding of the rules and operating regulations published by the networks and preliminary communications with the networks .we have now reached resolution with and made payments to the networks , resulting in charges that were less than our initial estimates .the primary difference between our initial estimates and the final charges relates to lower fraud related costs attributed to this event than previously expected .the following table reflects the activity in our accrual for fraud losses , fines and other charges for the twelve months ended may 31 , 2013 ( in thousands ) : .
[['balance at may 31 2012', '$ 67436'], ['adjustments', '-31781 ( 31781 )'], ['subtotal', '35655'], ['payments', '-35655 ( 35655 )'], ['balance at may 31 2013', '$ 2014']]
we were insured under policies that provided coverage of certain costs associated with this event .the policies provided a total of $ 30.0 million in policy limits and contained various sub-limits of liability and other terms , conditions and limitations , including a $ 1.0 million deductible per claim .as of fiscal year 2013 , we received assessments from certain networks and submitted additional claims to the insurers and recorded $ 20.0 million in additional insurance recoveries based on our negotiations with our insurers .we will record receivables for any additional recoveries in the periods in which we determine such recovery is probable and the amount can be reasonably estimated .a class action arising out of the processing system intrusion was filed against us on april 4 , 2012 by natalie willingham ( individually and on behalf of a putative nationwide class ) ( the 201cplaintiff 201d ) .specifically , ms .willingham alleged that we failed to maintain reasonable and adequate procedures to protect her personally identifiable information ( 201cpii 201d ) which she claims resulted in two fraudulent charges on her credit card in march 2012 .further , ms .willingham asserted that we failed to timely notify the public of the data breach .based on these allegations , ms .willingham asserted claims for negligence , violation of the federal stored communications act , willful violation of the fair credit reporting act , negligent violation of the fair credit reporting act , violation of georgia 2019s unfair and deceptive trade practices act , negligence per se , breach of third-party beneficiary contract , and breach of implied contract .ms .willingham sought an unspecified amount of damages and injunctive relief .the lawsuit was filed in the united states district court for the northern district of georgia .on may 14 , 2012 , we filed a motion to dismiss .on july 11 , 2012 , plaintiff filed a motion for leave to amend her complaint , and on july 16 , 2012 , the court granted that motion .she then filed an amended complaint on july 16 , 2012 .the amended complaint did not add any new causes of action .instead , it added two new named plaintiffs ( nadine and robert hielscher ) ( together with plaintiff , the 201cplaintiffs 201d ) and dropped plaintiff 2019s claim for negligence per se .on august 16 , 2012 , we filed a motion to dismiss the plaintiffs 2019 amended complaint .the plaintiffs filed their response in opposition to our motion to dismiss on october 5 , 2012 , and we subsequently filed our reply brief on october 22 , 2012 .the magistrate judge issued a report and recommendation recommending dismissal of all of plaintiffs 2019 claims with prejudice .the plaintiffs subsequently agreed to voluntarily dismiss the lawsuit with prejudice , with each party bearing its own fees and costs .this was the only consideration exchanged by the parties in connection with plaintiffs 2019 voluntary dismissal with prejudice of the lawsuit .the lawsuit was dismissed with prejudice on march 6 , 2013 .note 3 2014settlement processing assets and obligations we are designated as a merchant service provider by mastercard and an independent sales organization by visa .these designations are dependent upon member clearing banks ( 201cmember 201d ) sponsoring us and our adherence to the standards of the networks .we have primary financial institution sponsors in the various markets where we facilitate payment transactions with whom we have sponsorship or depository and clearing agreements .these agreements allow us to route transactions under the member banks 2019 control and identification numbers to clear credit card transactions through mastercard and visa .in certain markets , we are members in various payment networks , allowing us to process and fund transactions without third-party sponsorship. .

Question: what portion of the beginning balance of accrual for fraud losses is regulated through adjustments?
Answer: 47.1%