table of contents ended december 31 , 2015 and 2014 , respectively .the increase in cash provided by accounts payable-inventory financing was primarily due to a new vendor added to our previously existing inventory financing agreement .for a description of the inventory financing transactions impacting each period , see note 6 ( inventory financing agreements ) to the accompanying consolidated financial statements .for a description of the debt transactions impacting each period , see note 8 ( long-term debt ) to the accompanying consolidated financial statements .net cash used in financing activities decreased $ 56.3 million in 2014 compared to 2013 .the decrease was primarily driven by several debt refinancing transactions during each period and our july 2013 ipo , which generated net proceeds of $ 424.7 million after deducting underwriting discounts , expenses and transaction costs .the net impact of our debt transactions resulted in cash outflows of $ 145.9 million and $ 518.3 million during 2014 and 2013 , respectively , as cash was used in each period to reduce our total long-term debt .for a description of the debt transactions impacting each period , see note 8 ( long-term debt ) to the accompanying consolidated financial statements .long-term debt and financing arrangements as of december 31 , 2015 , we had total indebtedness of $ 3.3 billion , of which $ 1.6 billion was secured indebtedness .at december 31 , 2015 , we were in compliance with the covenants under our various credit agreements and indentures .the amount of cdw 2019s restricted payment capacity under the senior secured term loan facility was $ 679.7 million at december 31 , 2015 .for further details regarding our debt and each of the transactions described below , see note 8 ( long-term debt ) to the accompanying consolidated financial statements .during the year ended december 31 , 2015 , the following events occurred with respect to our debt structure : 2022 on august 1 , 2015 , we consolidated kelway 2019s term loan and kelway 2019s revolving credit facility .kelway 2019s term loan is denominated in british pounds .the kelway revolving credit facility is a multi-currency revolving credit facility under which kelway is permitted to borrow an aggregate amount of a350.0 million ( $ 73.7 million ) as of december 31 , 2015 .2022 on march 3 , 2015 , we completed the issuance of $ 525.0 million principal amount of 5.0% ( 5.0 % ) senior notes due 2023 which will mature on september 1 , 2023 .2022 on march 3 , 2015 , we redeemed the remaining $ 503.9 million aggregate principal amount of the 8.5% ( 8.5 % ) senior notes due 2019 , plus accrued and unpaid interest through the date of redemption , april 2 , 2015 .inventory financing agreements we have entered into agreements with certain financial intermediaries to facilitate the purchase of inventory from various suppliers under certain terms and conditions .these amounts are classified separately as accounts payable-inventory financing on the consolidated balance sheets .we do not incur any interest expense associated with these agreements as balances are paid when they are due .for further details , see note 6 ( inventory financing agreements ) to the accompanying consolidated financial statements .contractual obligations we have future obligations under various contracts relating to debt and interest payments , operating leases and asset retirement obligations .our estimated future payments , based on undiscounted amounts , under contractual obligations that existed as of december 31 , 2015 , are as follows: .
[['( in millions )', 'payments due by period total', 'payments due by period < 1 year', 'payments due by period 1-3 years', 'payments due by period 4-5 years', 'payments due by period > 5 years'], ['term loan ( 1 )', '$ 1703.4', '$ 63.9', '$ 126.3', '$ 1513.2', '$ 2014'], ['kelway term loan ( 1 )', '90.9', '13.5', '77.4', '2014', '2014'], ['senior notes due 2022 ( 2 )', '852.0', '36.0', '72.0', '72.0', '672.0'], ['senior notes due 2023 ( 2 )', '735.1', '26.3', '52.5', '52.5', '603.8'], ['senior notes due 2024 ( 2 )', '859.7', '31.6', '63.3', '63.3', '701.5'], ['operating leases ( 3 )', '143.2', '22.5', '41.7', '37.1', '41.9'], ['asset retirement obligations ( 4 )', '1.8', '0.8', '0.5', '0.3', '0.2'], ['total', '$ 4386.1', '$ 194.6', '$ 433.7', '$ 1738.4', '$ 2019.4']]
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Question: as of dec 31 , 2015 , what percentage of total indebtedness was nonsecure?
Answer: 51.5%