american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) customer leases 2014the company 2019s lease agreements with its customers vary depending upon the industry .television and radio broadcasters prefer long-term leases , while wireless communications providers favor leases in the range of five to ten years .most leases contain renewal options .escalation clauses present in operating leases , excluding those tied to cpi , are straight-lined over the term of the lease .future minimum rental receipts expected from customers under noncancelable operating lease agreements in effect at december 31 , 2002 are as follows ( in thousands ) : year ending december 31 .
[['2003', '$ 459188'], ['2004', '439959'], ['2005', '409670'], ['2006', '363010'], ['2007', '303085'], ['thereafter', '1102597'], ['total', '$ 3077509']]
acquisition commitments 2014as of december 31 , 2002 , the company was party to an agreement relating to the acquisition of tower assets from a third party for an estimated aggregate purchase price of approximately $ 74.0 million .the company may pursue the acquisitions of other properties and businesses in new and existing locations , although there are no definitive material agreements with respect thereto .build-to-suit agreements 2014as of december 31 , 2002 , the company was party to various arrangements relating to the construction of tower sites under existing build-to-suit agreements .under the terms of the agreements , the company is obligated to construct up to 1000 towers over a five year period which includes 650 towers in mexico and 350 towers in brazil over the next three years .the company is in the process of renegotiating several of these agreements to reduce its overall commitment ; however , there can be no assurance that it will be successful in doing so .atc separation 2014the company was a wholly owned subsidiary of american radio systems corporation ( american radio ) until consummation of the spin-off of the company from american radio on june 4 , 1998 ( the atc separation ) .on june 4 , 1998 , the merger of american radio and a subsidiary of cbs corporation ( cbs ) was consummated .as a result of the merger , all of the outstanding shares of the company 2019s common stock owned by american radio were distributed or reserved for distribution to american radio stockholders , and the company ceased to be a subsidiary of , or to be otherwise affiliated with , american radio .furthermore , from that day forward the company began operating as an independent publicly traded company .in connection with the atc separation , the company agreed to reimburse cbs for any tax liabilities incurred by american radio as a result of the transaction .upon completion of the final american radio tax returns , the amount of these tax liabilities was determined and paid by the company .the company continues to be obligated under a tax indemnification agreement with cbs , however , until june 30 , 2003 , subject to the extension of federal and applicable state statutes of limitations .the company is currently aware that the internal revenue service ( irs ) is in the process of auditing certain tax returns filed by cbs and its predecessors , including those that relate to american radio and the atc separation transaction .in the event that the irs imposes additional tax liabilities on american radio relating to the atc separation , the company would be obligated to reimburse cbs for such liabilities .the company cannot currently anticipate or estimate the potential additional tax liabilities , if any , that may be imposed by the irs , however , such amounts could be material to the company 2019s consolidated financial position and results of operations .the company is not aware of any material obligations relating to this tax indemnity as of december 31 , 2002 .accordingly , no amounts have been provided for in the consolidated financial statements relating to this indemnification. .

Question: what portion of future minimum rental receipts is expected to be collected within the next 24 months?
Answer: 29.2%