page 62 of 94 notes to consolidated financial statements ball corporation and subsidiaries 14 .taxes on income ( continued ) at december 31 , 2007 , ball corporation and its domestic subsidiaries had net operating loss carryforwards , expiring between 2020 and 2026 , of $ 64.6 million with a related tax benefit of $ 25.2 million .also at december 31 , 2007 , ball packaging europe and its subsidiaries had net operating loss carryforwards , with no expiration date , of $ 54.4 million with a related tax benefit of $ 14.6 million .ball packaging products canada corp .had a net operating loss carryforward , with no expiration date , of $ 15.8 million with a related tax benefit of $ 5.4 million .due to the uncertainty of ultimate realization , these european and canadian benefits have been offset by valuation allowances of $ 8.6 million and $ 5.4 million , respectively .upon realization , $ 5.3 million of the european valuation allowance will be recognized as a reduction in goodwill .at december 31 , 2007 , the company has foreign tax credit carryforwards of $ 5.8 million ; however , due to the uncertainty of realization of the entire credit , a valuation allowance of $ 3.8 million has been applied to reduce the carrying value to $ 2 million .effective january 1 , 2007 , ball adopted fin no .48 , 201caccounting for uncertainty in income taxes . 201d as of the date of adoption , the accrual for uncertain tax position was $ 45.8 million , and the cumulative effect of the adoption was an increase in the reserve for uncertain tax positions of $ 2.1 million .the accrual includes an $ 11.4 million reduction in opening retained earnings and a $ 9.3 million reduction in goodwill .a reconciliation of the unrecognized tax benefits follows : ( $ in millions ) as adjusted for accounting change .
[['( $ in millions )', 'as adjusted for accounting change'], ['balance at january 1 2007', '$ 45.8'], ['additions based on tax positions related to the current year', '3.9'], ['additions for tax positions of prior years', '7.6'], ['reductions for settlements', '-18.4 ( 18.4 )'], ['effect of foreign currency exchange rates', '2.2'], ['balance at december 31 2007', '$ 41.1'], ['balance sheet classification:', ''], ['income taxes payable', '$ 4.2'], ['deferred taxes and other liabilities', '36.9'], ['total', '$ 41.1']]
the amount of unrecognized tax benefits at december 31 , 2007 , that , if recognized , would reduce tax expense is $ 35.9 million .at this time there are no positions where the unrecognized tax benefit is expected to increase or decrease significantly within the next 12 months .u.s .federal and state income tax returns filed for the years 2000- 2006 are open for audit , with an effective settlement of the federal returns through 2004 .the income tax returns filed in europe for the years 2002 through 2006 are also open for audit .the company 2019s significant filings in europe are in germany , france , the netherlands , poland , serbia and the united kingdom .the company recognizes the accrual of interest and penalties related to unrecognized tax benefits in income tax expense .during the year ended december 31 , 2007 , ball recognized approximately $ 2.7 million of interest expense .the accrual for uncertain tax positions at december 31 , 2007 , includes approximately $ 5.1 million representing potential interest expense .no penalties have been accrued .the 2007 provision for income taxes included an $ 11.5 million accrual under fin no .48 .the majority of this provision was related to the effective settlement during the third quarter of 2007 with the internal revenue service for interest deductions on incurred loans from a company-owned life insurance plan .the total accrual at december 31 , 2007 , for the effective settlement of the applicable prior years 2000-2004 under examination , and unaudited years 2005 through 2007 , was $ 18.4 million , including estimated interest .the settlement resulted in a majority of the interest deductions being sustained with prospective application that results in no significant impact to future earnings per share or cash flows. .

Question: what percentage of total unrecognized tax benefits as of december 31 , 2007 is comprised of deferred taxes and other liabilities?
Answer: 90%