contractual obligations in 2011 , we issued $ 1200 million of senior notes and entered into the credit facility with third-party lenders in the amount of $ 1225 million .as of december 31 , 2011 , total outstanding long-term debt was $ 1859 million , consisting of these senior notes and the credit facility , in addition to $ 105 million of third party debt that remained outstanding subsequent to the spin-off .in connection with the spin-off , we entered into a transition services agreement with northrop grumman , under which northrop grumman or certain of its subsidiaries provides us with certain services to help ensure an orderly transition following the distribution .under the transition services agreement , northrop grumman provides , for up to 12 months following the spin-off , certain enterprise shared services ( including information technology , resource planning , financial , procurement and human resource services ) , benefits support services and other specified services .the original term of the transition services agreement ends on march 31 , 2012 , although we have the right to and have cancelled certain services as we transition to new third-party providers .the services provided by northrop grumman are charged to us at cost , and a limited number of these services may be extended for a period of approximately six months to allow full information systems transition .see note 20 : related party transactions and former parent company equity in item 8 .in connection with the spin-off , we entered into a tax matters agreement with northrop grumman ( the 201ctax matters agreement 201d ) that governs the respective rights , responsibilities and obligations of northrop grumman and us after the spin-off with respect to tax liabilities and benefits , tax attributes , tax contests and other tax sharing regarding u.s .federal , state , local and foreign income taxes , other taxes and related tax returns .we have several liabilities with northrop grumman to the irs for the consolidated u.s .federal income taxes of the northrop grumman consolidated group relating to the taxable periods in which we were part of that group .however , the tax matters agreement specifies the portion of this tax liability for which we will bear responsibility , and northrop grumman has agreed to indemnify us against any amounts for which we are not responsible .the tax matters agreement also provides special rules for allocating tax liabilities in the event that the spin-off , together with certain related transactions , is not tax-free .see note 20 : related party transactions and former parent company equity in item 8 .we do not expect either the transition services agreement or the tax matters agreement to have a significant impact on our financial condition and results of operations .the following table presents our contractual obligations as of december 31 , 2011 , and the related estimated timing of future cash payments : ( $ in millions ) total 2012 2013 - 2014 2015 - 2016 2017 and beyond .
[['( $ in millions )', 'total', '2012', '2013 - 2014', '2015 - 2016', '2017 and beyond'], ['long-term debt', '$ 1859', '$ 29', '$ 129', '$ 396', '$ 1305'], ['interest payments on long-term debt ( 1 )', '854', '112', '219', '202', '321'], ['operating leases', '124', '21', '32', '23', '48'], ['purchase obligations ( 2 )', '2425', '1409', '763', '209', '44'], ['other long-term liabilities ( 3 )', '587', '66', '96', '67', '358'], ['total contractual obligations', '$ 5849', '$ 1637', '$ 1239', '$ 897', '$ 2076']]
( 1 ) interest payments include interest on $ 554 million of variable interest rate debt calculated based on interest rates at december 31 , 2011 .( 2 ) a 201cpurchase obligation 201d is defined as an agreement to purchase goods or services that is enforceable and legally binding on us and that specifies all significant terms , including : fixed or minimum quantities to be purchased ; fixed , minimum , or variable price provisions ; and the approximate timing of the transaction .these amounts are primarily comprised of open purchase order commitments to vendors and subcontractors pertaining to funded contracts .( 3 ) other long-term liabilities primarily consist of total accrued workers 2019 compensation reserves , deferred compensation , and other miscellaneous liabilities , of which $ 201 million is the current portion of workers 2019 compensation liabilities .it excludes obligations for uncertain tax positions of $ 9 million , as the timing of the payments , if any , cannot be reasonably estimated .the above table excludes retirement related contributions .in 2012 , we expect to make minimum and discretionary contributions to our qualified pension plans of approximately $ 153 million and $ 65 million , respectively , exclusive of any u.s .government recoveries .we will continue to periodically evaluate whether to make additional discretionary contributions .in 2012 , we expect to make $ 35 million in contributions for our other postretirement plans , exclusive of any .

Question: what is the ratio of long term debt to the total contractual obligations
Answer: 0.32
Explanation: every $ 1 of total contractual obligations includes $ 0.32 of long term debt