Model: thomaskim1130/stella_en_400M_v5-FinanceRAG-md
Author: thomaskim1130
Pipeline: sentence-similarity
Library: sentence-transformers
Tags: sentence-transformers, safetensors, new, sentence-similarity, feature-extraction, generated_from_trainer, dataset_size:2240, loss:MultipleNegativesRankingLoss, custom_code, arxiv:1908.10084, arxiv:1705.00652, base_model:thomaskim1130/stella_en_400M_v5-FinanceRAG-v2, base_model:finetune:thomaskim1130/stella_en_400M_v5-FinanceRAG-v2, model-index, text-embeddings-inference, endpoints_compatible, region:us
Base models (finetune): id: thomaskim1130/stella_en_400M_v5-FinanceRAG-v2
Card metadata: tags: sentence-transformers, sentence-similarity, feature-extraction, generated_from_trainer, dataset_size:2240, loss:MultipleNegativesRankingLoss
base_model: thomaskim1130/stella_en_400M_v5-FinanceRAG-v2
widget: source_sentence: Instruct: Given a web search query, retrieve relevant passages that answer the query.
Query: Title: 
Text: | _id | q616790e6 |
| title |  |
| text | what was the percentage decline in the operating loss from 2007 to 2008

what percentage decline in operating loss from 2007 to 2008



sentences: Title: 
Text: | _id | d1a72bce4 |
| title |  |
| text | Cost of Revenues and Gross Margin

Cost of revenues in 2019 decreased by $4.3 million, or 16%, as compared to 2018. The decrease was primarily driven by a reduction in the number of global services and cloud infrastructure personnel, which led to a decrease of $2.2 million in compensation and benefits expense, including stock-based compensation expense, as compared to 2018. This reduction in headcount also contributed to a decrease in allocated facilities and information technology costs of $0.5 million in 2019. We also experienced a

of $0.5 million in 2019. We also experienced a decrease of $0.9 million in hosting costs in 2019, due to a decline in the usage of our hosted platform as compared to 2018. Additionally, depreciation decreased $0.5 million in 2019, due to the nature and timing of capital expenditures and internal projects as compared to 2018.

Our gross margin decreased to 53% during 2019, as compared to 54% during 2018. This was primarily due to our revenues, net declining during the year at a slightly faster rate than the corresponding decrease in costs.

| Years Ended December 31, |                        | Change   |      
---------------- | ------------------------ | ---------------------- | -------- | -----
                 | 2019                     | 2018                   | $        | %    
                 |                          | (dollars in thousands) |          |      
Cost of revenues | $22,843                  | $27,154                | $(4,311) | (16)%

Gross profit     | 26,193                   | 31,477                 | (6,284)  | (17) 
Gross margin     | 53%                      | 54%                    |          |

Cost of Revenues Gross Margin

Cost revenues in 2019 decreased by $4. 3 million, or 16%, compared to 2018. decrease driven by reduction in number of global services and cloud infrastructure personnel led to decrease of $2. 2 million in compensation and benefits expense, including stock-based compensation expense compared to 2018. reduction in headcount contributed to decrease in allocated facilities and information technology costs of $0. 5 million in 2019. experienced decrease of $0. 9 million in hosting costs in 2019 due to decline

9 million in hosting costs in 2019 due to decline in usage of hosted platform compared to 2018. depreciation decreased $0. 5 million in 2019 due to nature timing capital expenditures internal projects compared to 2018.

gross margin decreased to 53% during 2019 compared to 54% 2018. primarily due to revenues, net declining year at slightly faster rate than decrease in costs.

| Years Ended December 31, |                        | Change   |      
---------------- | ------------------------ | ---------------------- | -------- | -----
                 | 2019                     | 2018                   | $        | %    
                 |                          | (dollars in thousands) |          |      
Cost of revenues | $22,843                  | $27,154                | $(4,311) | (16)%
Gross profit     | 26,193                   | 31,477                 | (6,284)  | (17)

Gross margin     | 53%                      | 54%                    |          |


, Title: 
Text: | _id | d61679140 |
| title |  |
| text | with these types of uncapped damage provisions are fairly rare , but individual contracts could still represent meaningful risk .
there is a possibility that a damage claim by a counterparty to one of these contracts could result in expenses to the company that are far in excess of the revenue received from the counterparty in connection with the contract .

indemnification provisions : in addition , the company may provide indemnifications for losses that result from the breach of general warranties contained in certain commercial , intellectual property and divestiture agreements .
historically , the company has not made significant payments under these agreements , nor have there been significant claims asserted against the company .
however , there is an increasing risk in relation to intellectual property indemnities given the current legal climate .

in indemnification cases , payment by the company is conditioned on the other party making a claim pursuant to the procedures specified in the particular contract , which procedures typically allow the company to challenge the other party 2019s claims .

further , the company 2019s obligations under these agreements for indemnification based on breach of representations and warranties are generally limited in terms of duration , typically not more than 24 months , and for amounts not in excess of the contract value , and in some instances the company may have recourse against third parties for certain payments made by the company .

legal matters : the company is a defendant in various lawsuits , claims and actions , which arise in the normal course of business .
these include actions relating to products , contracts and securities , as well as matters initiated by third parties or motorola relating to infringements of patents , violations of licensing arrangements and other intellectual property-related matters .

in the opinion of management , the ultimate disposition of these matters will not have a material adverse effect on the company 2019s consolidated financial position , liquidity or results of operations .
segment information the following commentary should be read in conjunction with the financial results of each reporting segment as detailed in note 12 , 201cinformation by segment and geographic region , 201d to the company 2019s consolidated financial statements .

net sales and operating results for the company 2019s three operating segments for 2008 , 2007 and 2006 are presented below .
mobile devices segment the mobile devices segment designs , manufactures , sells and services wireless handsets with integrated software and accessory products , and licenses intellectual property .
in 2008 , the segment 2019s net sales represented 40% ( 40 % ) of the company 2019s consolidated net sales , compared to 52% ( 52 % ) in 2007 and 66% ( 66 % ) in 2006 .

( dollars in millions ) 2008 2007 2006 2008 20142007 2007 20142006 years ended december 31 percent change .

( dollars in millions )     | years ended december 31 2008 | years ended december 31 2007 | years ended december 31 2006 | years ended december 31 2008 20142007 | 2007 20142006  
--------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | ------------------------------------- | ---------------

segment net sales           | $ 12099                      | $ 18988                      | $ 28383                      | ( 36 ) % (  % )                       | ( 33 ) % (  % )
operating earnings ( loss ) | -2199 ( 2199 )               | -1201 ( 1201 )               | 2690                         | 83% ( 83 % )                          | ***

*** percentage change is not meaningful .
segment results 20142008 compared to 2007 in 2008 , the segment 2019s net sales were $ 12.1 billion , a decrease of 36% ( 36 % ) compared to net sales of $ 19.0 billion in 2007 .
the 36% ( 36 % ) decrease in net sales was primarily driven by a 37% ( 37 % ) decrease in unit shipments .

the segment 2019s net sales were negatively impacted by the segment 2019s limited product offerings in critical market segments , particularly 3g products , including smartphones , as well as very low-tier products .
in addition , the segment 2019s net sales were impacted by the global economic downturn in the second half of 2008 , which resulted in the slowing of end user demand .

on a product technology basis , net sales decreased substantially for gsm and cdma technologies and , to a lesser extent , decreased for iden and 3g technologies .
on a geographic basis , net sales decreased substantially in north america , the europe , middle east and africa region ( 201cemea 201d ) and asia and , to a lesser extent , decreased in latin america .
the segment incurred an operating loss of $ 2.2 billion in 2008 , compared to an operating loss of $ 1.2 billion in 2007 .

the increase in the operating loss was primarily due to a decrease in gross margin , driven by : ( i ) a 36% ( 36 % ) decrease in net sales , ( ii ) excess inventory and other related charges of $ 370 million in 2008 due to a decision to 61management 2019s discussion and analysis of financial condition and results of operations %%transmsg*** transmitting job : c49054 pcn : 064000000 ***%%pcmsg|61 |00028|yes|no|02/24/2009 12:31|0|0|page is valid , no graphics -- color : n|

uncapped damage provisions rare , but individual contracts could still represent meaningful risk.
 possibility that damage claim by counterparty to contracts could result in expenses to company in excess of revenue received from counterparty in with contract.
 indemnification provisions : company may provide indemnifications for losses from breach of general warranties in certain commercial , intellectual property and divestiture agreements.

historically  company not made significant payments under these agreements , nor significant claims asserted against company.
 , increasing risk in to intellectual property indemnities given current legal climate.
 in indemnification cases , payment by company is conditioned on other party making claim pursuant to procedures specified in contract , procedures typically allow company to challenge other party 2019s claims.

company 2019s obligations under these agreements for indemnification based on breach of representations and warranties generally limited in duration typically not more than 24 months  for amounts not in excess of contract value , in some instances company may have recourse against third parties for certain payments made by company.
 legal matters : company is a defendant in various lawsuits , claims and actions , in normal course of business.

include actions relating to products , contracts securities , matters initiated by third parties or motorola relating to infringements of patents , violations of licensing arrangements other intellectual property-related matters.
 in opinion of management  ultimate disposition of these matters will not have material adverse effect on company 2019s consolidated financial position , liquidity or results of operations.

segment information following commentary should be read in conjunction with financial results of each reporting segment as detailed in note 12 , 201cinformation by segment and geographic region , 201d to company 2019s consolidated financial statements.
net sales operating results for company 2019s three operating segments for 2008 , 2007 2006 presented below.

mobile devices segment segment designs  manufactures  sells services wireless handsets with integrated software accessory products licenses intellectual property.
 in 2008  segment 2019s net sales represented 40% ( 40 % ) of company 2019s consolidated net sales compared to 52% ( 52 % ) in 2007 66% ( 66 % ) in 2006.
 ( dollars in millions ) 2008 2007 2006 2008 20142007 20142006 years ended december 31 percent change.
 percentage change not meaningful.

percentage change not meaningful.
 segment results 20142008 compared to 2007 in 2008 segment 2019s net sales were $ 12. 1 billion  decrease of 36% ( 36 % ) compared to net sales $ 19. 0 billion in 2007.
 36% ( 36 % ) decrease in net sales primarily driven by 37% ( 37 % ) decrease in unit shipments.
 segment 2019s net sales negatively impacted by segment 2019s limited product offerings in critical market segments  particularly 3g products  including smartphones very low-tier products.

segment 2019s net sales impacted by global economic downturn in second half of 2008 resulted in slowing of end user demand.
 product technology basis net sales decreased substantially for gsm and cdma technologies lesser decreased for iden and 3g technologies.
 geographic basis net sales decreased substantially in north america europe middle east and africa region asia lesser decreased in latin america.

segment incurred operating loss of $ 2. 2 billion in 2008  compared to operating loss of $ 1. 2 billion in 2007.

( dollars in millions )     | years ended december 31 2008 | years ended december 31 2007 | years ended december 31 2006 | years ended december 31 2008 20142007 | 2007 20142006  
--------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | ------------------------------------- | ---------------

segment net sales           | $ 12099                      | $ 18988                      | $ 28383                      | ( 36 ) % (  % )                       | ( 33 ) % (  % )
operating earnings ( loss ) | -2199 ( 2199 )               | -1201 ( 1201 )               | 2690                         | 83% ( 83 % )                          | ***

the increase in the operating loss was primarily due to a decrease in gross margin , driven by : ( i ) a 36% ( 36 % ) decrease in net sales , ( ii ) excess inventory and other related charges of $ 370 million in 2008 due to a decision to 61management 2019s discussion and analysis of financial condition and results of operations %%transmsg*** transmitting job : c49054 pcn : 064000000 ***%%pcmsg|61 |00028|yes|no|02/24/2009 12:31|0|0|page is valid , no graphics -- color : n|


, Title: 
Text: | _id | d1a73c7c4 |
| title |  |
| text | BELL WIRELESS RESULTS
REVENUES
Bell Wireless operating revenues increased by 3.7% in 2019, compared to 2018, driven by greater postpaid and prepaid service revenues and higher product revenues.

Service revenues increased by 2.5% in 2019, compared to last year, driven by: • Continued growth in our postpaid and prepaid subscriber base coupled with rate increases • A greater mix of customers subscribing to higher-value monthly plans including unlimited data plans launched in June 2019 • The favourable year-over-year impact from the 2018 CRTC retroactive decision on wireless domestic wholesale roaming rates

These factors were partly offset by: • Greater sales of premium handsets and more customers subscribing to higher-value monthly plans • Lower data and voice overages driven by increased customer adoption of monthly plans with higher data allotments and richer voice plans
Product revenues increased by 6.6% in 2019, compared to last year, driven by greater sales of premium handsets and the impact of higher-value rate plans in our sales mix.

| 2019  | 2018  | $ CHANGE | % CHANGE
-------------------------------- | ----- | ----- | -------- | --------
External service revenues        | 6,427 | 6,269 | 158      | 2.5%    
Inter-segment service revenues   | 49    | 48    | 1        | 2.1%    
Total operating service revenues | 6,476 | 6,317 | 159      | 2.5%    
External product revenues        | 2,660 | 2,497 | 163      | 6.5%    
Inter-segment product revenues   | 6     | 4     | 2        | 50.0%

Total operating product revenues | 2,666 | 2,501 | 165      | 6.6%    
Total Bell Wireless revenues     | 9,142 | 8,818 | 324      | 3.7%

BELL WIRELESS RESULTS
 REVENUES
 Bell Wireless operating revenues increased 3. 7% 2019 compared to 2018 driven by greater postpaid prepaid service revenues higher product revenues.

Service revenues increased 2. 5% 2019 compared last year driven by Continued growth in postpaid prepaid subscriber base rate increases greater mix of customers subscribing higher-value monthly plans including unlimited data plans launched June 2019 favourable year-over-year impact from 2018 CRTC retroactive decision on wireless domestic wholesale roaming rates

factors offset by Greater sales premium handsets more customers subscribing higher-value monthly plans Lower data voice overages driven by increased customer adoption of monthly plans with higher data allotments richer voice plans
 Product revenues increased 6. 6% 2019 compared last year driven by greater sales of premium handsets impact higher-value rate plans in sales mix.

| 2019  | 2018  | $ CHANGE | % CHANGE
-------------------------------- | ----- | ----- | -------- | --------
External service revenues        | 6,427 | 6,269 | 158      | 2.5%    
Inter-segment service revenues   | 49    | 48    | 1        | 2.1%    
Total operating service revenues | 6,476 | 6,317 | 159      | 2.5%    
External product revenues        | 2,660 | 2,497 | 163      | 6.5%    
Inter-segment product revenues   | 6     | 4     | 2        | 50.0%

Total operating product revenues | 2,666 | 2,501 | 165      | 6.6%    
Total Bell Wireless revenues     | 9,142 | 8,818 | 324      | 3.7%


, source_sentence: Instruct: Given a web search query, retrieve relevant passages that answer the query.
Query: Title: 
Text: | _id | q822237e8 |
| title |  |
| text | what was the percentage change in weighted average shares outstanding for diluted net earnings per share from 2006 to 2007?

percentage change in weighted average shares for diluted net earnings per share 2006 to 2007?



sentences: Title: 
Text: | _id | PG20230221 |
| title |  |
| text | The following provides additional detail on our reportable segments and the ten product categories and brand composition within each segment. Reportable Segments##% of Net Sales (1)##% of Net Earnings (1)##Product Categories (Sub-Categories)##Major Brands Beauty##18%##21%##Hair Care (Conditioners, Shampoos, Styling Aids, Treatments)##Head & Shoulders, Herbal Essences, Pantene, Rejoice ######Skin and Personal Care (Antiperspirants and Deodorants, Personal Cleansing, Skin Care)##Olay, Old Spice, Safeguard,

Skin Care)##Olay, Old Spice, Safeguard, Secret, SK-II Grooming (2)##8%##10%##Grooming (Appliances, Female Blades & Razors, Male Blades & Razors, Pre- and Post-Shave Products, Other Grooming)##Braun, Gillette, Venus Health Care##14%##14%##Oral Care (Toothbrushes, Toothpastes, Other Oral Care)##Crest, Oral-B ######Personal Health Care (Gastrointestinal, Pain Relief, Rapid Diagnostics, Respiratory, Vitamins/Minerals/Supplements, Other Personal Health Care)##Metamucil, Neurobion, Pepto-Bismol, Vicks Fabric &

Neurobion, Pepto-Bismol, Vicks Fabric & Home Care##35%##32%##Fabric Care (Fabric Enhancers, Laundry Additives, Laundry Detergents)##Ariel, Downy, Gain, Tide ######Home Care (Air Care, Dish Care, P&G Professional, Surface Care)##Cascade, Dawn, Fairy, Febreze, Mr. Clean, Swiffer Baby, Feminine & Family Care##25%##23%##Baby Care (Baby Wipes, Taped Diapers and Pants)##Luvs, Pampers ######Feminine Care (Adult Incontinence, Feminine Care)##Always, Always Discreet, Tampax ######Family Care (Paper Towels, Tissues,

Tampax ######Family Care (Paper Towels, Tissues, Toilet Paper)##Bounty, Charmin, Puffs

detail reportable segments ten product categories brand composition. Reportable Segments% Net Sales (1) Net Earnings (1)#Product Categories-Categories#Major Brands Beauty#18%##21%#Hair Care (Conditioners Shampoos Styling Aids Treatments)#Head & Shoulders Herbal Essences Pantene Rejoice ######Skin Personal Care (Antiperspirants Deodorants Personal Cleansing Skin Care)#Olay Old Spice Safeguard Secret SK-II Grooming#8%##10%#Grooming (Appliances Female Blades Razors Male Blades Razors Pre- Post-Shave Products

Male Blades Razors Pre- Post-Shave Products Other Grooming)#Braun, Gillette Venus Health Care#14%##14%#Oral Care (Toothbrushes Toothpastes Other Oral Care#Crest Oral-B Health Care (Gastrointestinal Pain Relief Rapid Diagnostics Respiratory Vitamins/Minerals/Supplements Other Personal Health Care)#Metamucil Neurobion Pepto-Bismol Vicks Fabric Home Care#35%##32%#Fabric Care (Fabric Enhancers Laundry Additives Laundry Detergents)#Ariel, Downy Gain Tide Care (Air Care Dish Care P&G Professional Surface

Care (Air Care Dish Care P&G Professional Surface Care)#Cascade, Dawn, Fairy Febreze Mr. Clean Swiffer Baby Feminine Family Care#25%##23%#Baby Care (Baby Wipes Taped Diapers Pants)#Luvs Pampers Care (Adult Incontinence Feminine Care)#Always, Always Discreet Tampax ######Family Care (Paper Towels Tissues Toilet Paper)#Bounty, Charmin Puffs


, Title: 
Text: | _id | d82223914 |
| title |  |
| text | ABIOMED, INC.  AND SUBSIDIARIES Notes to Consolidated Financial Statements—(Continued) Note 12.
Stock Award Plans and Stock Based Compensation (Continued) Restricted Stock The following table summarizes restricted stock activity for the fiscal year ended March 31, 2009:
|  | March 31, 2009 |
|  | Number of Shares (in thousands) | Grant Date Fair Value |
| Restricted stock awards at March 31, 2008 | 54 | $11.52 |
| Granted | 666 | 16.75 |
| Vested | -167 | 14.65 |
| Forfeited | -73 | 17.53 |

| Forfeited | -73 | 17.53 |
| Restricted stock awards at March 31, 2009 | 480 | $16.77 |
The remaining unrecognized compensation expense for restricted stock awards at March 31, 2009 was $4.6 million.
The weighted average remaining contractual life for restricted stock awards at March 31, 2009 and 2008 was 1.8 and 2.4 years, respectively.

In May 2008, 260,001 shares of restricted stock were issued to certain executive officers and certain members of senior management of the Company, of which 130,002 of these shares vest upon achievement of a prescribed performance milestone.
In September 2008, the Company met the prescribed performance milestone, and all of these performance-based shares vested.
In connection with the vesting of these shares, these employees paid withholding taxes due by returning 39,935 shares valued at $0.7 million.

These shares have been recorded as treasury stock as of March 31, 2009.
The remaining 129,999 of the restricted shares award vest ratably over four years from the grant date.
The stock compensation expense for the restricted stock awards is recognized on a straight-line basis over the vesting period, based on the probability of achieving the performance milestones.

In August 2008, 406,250 shares of restricted stock were issued to certain executive officers and certain members of senior management of the Company, all of which could vest upon achievement of certain prescribed performance milestones.
In March 2009, the Company met a prescribed performance milestone, and a portion of these performance-based shares vested.

The remaining stock compensation expense for the restricted stock awards is being recognized on a straight-line basis over the vesting period through March 31, 2011 based on the probability of achieving the performance milestones.
The cumulative effects of changes in the probability of achieving the milestones will be recorded in the period in which the changes occur.

During the year ended March 31, 2008, 60,000 shares of restricted stock were issued to certain executive officers of the Company that vest on the third anniversary of the date of grant.
The stock compensation expense for the restricted stock awards is recognized on a straight-line basis over the vesting period.

ABIOMED, INC. AND SUBSIDIARIES Notes to Consolidated Financial Statements—(Continued) Note 12.
 Stock Award Plans and Stock Based Compensation (Continued) Restricted Stock table summarizes restricted stock activity for fiscal year ended March 31, 2009:
 weighted average remaining contractual life for restricted stock awards at March 31, 2009 and 2008 was 1. 8 and 2. 4 years, respectively.

In May 2008, 260,001 shares of restricted stock issued to executive officers and members of senior management Company 130,002 shares vest upon achievement of prescribed performance milestone.
 In September 2008, Company met prescribed performance milestone all performance-based shares vested.
 vesting shares employees paid withholding taxes due by returning 39,935 shares valued at $0. 7 million.
 These shares recorded as treasury stock as of March 31, 2009.

remaining 129,999 of restricted shares award vest ratably over four years from grant date.
 stock compensation expense for restricted stock awards recognized on straight-line basis over vesting period, based on probability of achieving performance milestones.
 In August 2008, 406,250 shares of restricted stock issued to executive officers and members of senior management Company all could vest upon achievement of prescribed performance milestones.

In March 2009, Company met prescribed performance milestone, portion of performance-based shares vested.
 remaining stock compensation expense for restricted stock awards recognized straight-line basis over vesting period through March 31, 2011 based on probability of achieving performance milestones.
 cumulative effects of changes in probability of achieving milestones recorded in period in changes occur.

During year ended March 31, 2008, 60,000 shares of restricted stock issued to executive officers Company that vest on third anniversary of date of grant.
stock compensation expense for restricted stock awards recognized on straight-line basis over vesting period.

|  | March 31, 2009 |
|  | Number of Shares (in thousands) | Grant Date Fair Value |
| Restricted stock awards at March 31, 2008 | 54 | $11.52 |
| Granted | 666 | 16.75 |
| Vested | -167 | 14.65 |
| Forfeited | -73 | 17.53 |
| Restricted stock awards at March 31, 2009 | 480 | $16.77 |


, Title: 
Text: | _id | d82aee67a |
| title |  |
| text | |  | Options |
|  | Source of Fair Value | Maturity Less Than 1 Year | Maturity 1 to 3 Years | Maturity 4 to 5 Years | Maturity Greater Than 5 Years | Total Options Fair Value |
|  | (Thousands of Dollars) |
| NSP-Minnesota | 2 | $514 | $— | $— | $— | $514 |
| PSCo | 2 | 3,241 | — | — | — | 3,241 |
| NSP-Wisconsin | 2 | 20 | — | — | — | 20 |
| Total Options Fair Value |  | $3,775 | $— | $— | $— | $3,775 |

1  Prices actively quoted or based on actively quoted prices.2  Prices based on models and other valuation methods.
These represent the fair value of positions calculated using internal models when directly and indirectly quoted external prices or prices derived from external sources are not available.
Internal models incorporate the use of options pricing and estimates of the present value of cash flows based upon underlying contractual terms.

The models reflect managements estimates, taking into account observable market prices, estimated market prices in the absence of quoted market prices, the risk-free market discount rate, volatility factors, estimated correlations of commodity prices and contractual volumes.
Market price uncertainty and other risks also are factored into the model.
*  SPS conducts an inconsequential amount of commodity trading.

Margins from commodity trading activity are partially redistributed to SPS, NSP-Minnesota, and PSCo, pursuant to the JOA approved by the FERC.
As a result of the JOA, margins received pursuant to the JOA are reflected as part of the fair values by source for the commodity trading net asset or liability balances.

Normal purchases and sales transactions, as defined by SFAS No.133 and certain other long-term power purchase contracts are not included in the fair values by source tables as they are not recorded at fair value as part of commodity trading operations and are not qualifying hedges.

At Dec.  31, 2006, a 10-percent increase in market prices over the next 12 months for commodity trading contracts would increase pretax income from continuing operations by approximately $0.9 million, whereas a 10-percent decrease would decrease pretax income from continuing operations by approximately $1.1 million.

Xcel Energys short-term wholesale and commodity trading operations measure the outstanding risk exposure to price changes on transactions, contracts and obligations that have been entered into, but not closed, using an industry standard methodology known as VaR.
VaR expresses the potential change in fair value on the outstanding transactions, contracts and obligations over a particular period of time, with a given confidence interval under normal market conditions.

Xcel Energy utilizes the variance/covariance approach in calculating VaR.
The VaR model employs a 95-percent confidence interval level based on historical price movement, lognormal price distribution assumption, delta half-gamma approach for non-linear instruments and a three-day holding period for both electricity and natural gas.
VaR is calculated on a consolidated basis.
The VaRs for the commodity trading operations were:

represent fair value of positions calculated using internal models when indirectly quoted external prices or prices from external sources not available.
 Internal models incorporate options pricing estimates of present value of cash flows based upon underlying contractual terms.
 models reflect managements estimates observable market prices, estimated market prices quoted market prices risk-free market discount rate volatility factors estimated correlations of commodity prices contractual volumes.

Market price uncertainty other risks factored into model.
 SPS conducts inconsequential amount of commodity trading.
 Margins from commodity trading activity partially redistributed to SPS, NSP-Minnesota PSCo JOA approved by FERC.
 result JOA margins received reflected as part of fair values by source for commodity trading net asset or liability balances.

Normal purchases and sales transactions, as defined by SFAS No. 133 certain other long-term power purchase contracts not included in fair values by source tables not recorded at fair value as part of commodity trading operations not qualifying hedges.

At Dec. 31, 2006, 10-percent increase in market prices over next 12 months for commodity trading contracts would increase pretax income from continuing operations by approximately $0. 9 million 10-percent decrease decrease pretax income from continuing operations by approximately $1. 1 million.

Xcel Energys short-term wholesale and commodity trading operations measure outstanding risk exposure to price changes on transactions, contracts obligations entered into but not closed using industry standard methodology known as VaR.
 VaR expresses potential change in fair value on outstanding transactions, contracts obligations over particular period of time with given confidence interval under normal market conditions.
 Xcel Energy utilizes variance/covariance approach in calculating VaR.

VaR model employs 95-percent confidence interval based historical price movement lognormal price distribution assumption delta half-gamma approach for non-linear instruments three-day holding period for electricity and natural gas.
 VaR calculated consolidated basis.
 VaRs for commodity trading operations were:

|  | Options |
|  | Source of Fair Value | Maturity Less Than 1 Year | Maturity 1 to 3 Years | Maturity 4 to 5 Years | Maturity Greater Than 5 Years | Total Options Fair Value |
|  | (Thousands of Dollars) |
| NSP-Minnesota | 2 | $514 | $— | $— | $— | $514 |
| PSCo | 2 | 3,241 | — | — | — | 3,241 |
| NSP-Wisconsin | 2 | 20 | — | — | — | 20 |
| Total Options Fair Value |  | $3,775 | $— | $— | $— | $3,775 |


, source_sentence: Instruct: Given a web search query, retrieve relevant passages that answer the query.
Query: Title: 
Text: | _id | q84fcfe76 |
| title |  |
| text | What is the ratio of Greater than twelve to twenty-four months for Carrying amount of Private to the total in 2009?

ratio of Greater than twelve to twenty-four months for Carrying amount Private to total in 2009?



sentences: Title: 
Text: | _id | d812326ea |
| title |  |
| text | Principal Financial Group, Inc.  Notes to Consolidated Financial Statements — (continued) 10.
Debt — (continued) Long-Term Debt The components of long-term debt as of December 31, 2009 and 2008, were as follows:
|  | December 31, |
|  | 2009 | 2008 |
|  | (in millions) |
| 8.2% notes payable, due 2009 | $— | $454.9 |
| 3.31% notes payable, due 2011 | 61.2 | 49.9 |
| 3.63% notes payable, due 2011 | 31.4 | 25.6 |
| 7.875% notes payable, due 2014 | 400.0 | — |
| 8.875% notes payable, due 2019 | 350.0 | — |

| 8.875% notes payable, due 2019 | 350.0 | — |
| 6.05% notes payable, due 2036 | 601.8 | 601.8 |
| 8% surplus notes payable, due 2044 | 99.2 | 99.2 |
| Non-recourse mortgages and notes payable | 40.6 | 58.7 |
| Other mortgages and notes payable | 0.4 | 0.4 |
| Total long-term debt | $1,584.6 | $1,290.5 |
The amounts included above are net of the discount and premium associated with issuing these notes, which are being amortized to expense over their respective terms using the interest method.

On May 18, 2009, we issued $750.0 million of senior notes.
We issued a $400.0 million series of notes that bear interest at 7.875% and will mature on May 15, 2014, and a $350.0 million series of notes that bear interest at 8.875% and will mature on May 15, 2019.
Interest on the notes is payable semi-annually on May 15 and November 15 each year, beginning on November 15, 2009.

The proceeds were primarily used to refinance $440.9 million of notes that matured on August 15, 2009, with the remaining proceeds being used for general corporate purposes.
On October 16 and December 5, 2006, we issued $500.0 million and $100.0 million, respectively, of senior notes.
The notes bear interest at a rate of 6.05% per year.
Interest on the notes is payable semi-annually on April 15 and October 15 each year and began on April 15, 2007.
The notes will mature on October 15, 2036.

The notes will mature on October 15, 2036.
A portion of the proceeds were used to fund the 2006 acquisition of WM Advisors, Inc. , with the remaining proceeds being used for general corporate purposes.
On November 3, 2005, Principal International de Chile S. A. , a wholly owned indirect subsidiary, entered into long-term borrowing agreements with two Chilean banks in the amount of US $93.9 million.

This debt is denominated in Unidades de Formento (‘‘UF’’), a Chilean inflation-indexed, peso-denominated monetary unit.
Of this amount, US $49.0 million of UF +3.31% notes, which was refinanced from +4.59% during 2007, and US $44.9 million of UF +3.63% notes, which was refinanced from +4.93% in 2007, mature on November 3, 2011.
Interest on the notes is payable semi-annually on May 3 and November 3 each year.

The debt outstanding and interest expense will vary due to fluctuations in the Chilean peso to US dollar exchange rates and Chilean inflation.
On August 25, 1999, Principal Financial Group (Australia) Holdings Pty.
Limited, a wholly owned indirect subsidiary, issued $665.0 million of unsecured redeemable long-term debt.
Principal Financial Group (Australia) Holdings Pty.

Limited used the net proceeds from the notes to partially fund the purchase of the outstanding stock of several companies affiliated with Bankers Trust Australia Group.
On December 28, 2001, all of the long-term debt obligations of Principal Financial Group (Australia) Holdings Pty.

Limited were assumed by its parent, Principal Financial Services, Inc.  Of the original amount issued, $200.0 million of 7.95% notes matured on August 15, 2004, with the remaining $465.0 million in 8.2% notes maturing on August 15, 2009.
The note was paid in full during 2009.
On March 10, 1994, Principal Life issued $100.0 million of surplus notes due March 1, 2044, at an 8% annual interest rate.
None of our affiliates hold any portion of the notes.

Each payment of interest and principal on the notes, however, may be made only with the prior approval of the Commissioner of Insurance of the State of Iowa (the ‘‘Commissioner’’) and only to the extent that Principal Life has sufficient surplus earnings to make such payments.
Interest of $8.0 million for each of the years ended December 31, 2009, 2008 and 2007 was approved by the Commissioner, and charged to expense.

Subject to Commissioner approval, the notes due March 1, 2044, may be redeemed at Principal Life’s election on or after March 1, 2014, in whole or in part at a redemption price of approximately 102.3% of par.
The approximate 2.3% premium is scheduled to gradually diminish over the following ten years.
These notes may be redeemed on or after March 1, 2024, at a redemption price of 100% of the principal amount plus interest accrued to the date of redemption.

The non-recourse mortgages, other mortgages and notes payable are primarily financings for real estate developments.
Outstanding principal balances as of December 31, 2009, ranged from $5.9 million to $9.1 million per
|  | December 31, 2008 |
|  | Public | Private | Total |
|  | Carrying amount | Gross unrealized losses | Carrying amount | Gross unrealized losses | Carrying amount | Gross unrealized losses |
|  | (in millions) |

|  | (in millions) |
| Three months or less | $3,086.0 | $194.4 | $1,188.1 | $99.5 | $4,274.1 | $293.9 |
| Greater than three to six months | 4,213.7 | 467.9 | 1,673.6 | 236.4 | 5,887.3 | 704.3 |
| Greater than six to nine months | 3,014.0 | 620.7 | 1,566.6 | 290.6 | 4,580.6 | 911.3 |
| Greater than nine to twelve months | 2,321.0 | 743.0 | 1,259.7 | 460.1 | 3,580.7 | 1,203.1 |
| Greater than twelve to twenty-four months | 3,042.0 | 1,507.5 | 2,217.1 | 1,519.7 | 5,259.1 | 3,027.2 |

| Greater than twenty-four to thirty-six months | 1,045.2 | 296.1 | 312.5 | 217.1 | 1,357.7 | 513.2 |
| Greater than thirty-six months | 1,363.8 | 423.5 | 698.2 | 265.8 | 2,062.0 | 689.3 |
| Total fixed maturity securities, available-for-sale | $18,085.7 | $4,253.1 | $8,915.8 | $3,089.2 | $27,001.5 | $7,342.3 |

The following tables present the carrying amount and the gross unrealized losses, including other-than-temporary impairment losses reported in OCI, on below investment grade fixed maturity securities available-for-sale by aging category for the time periods indicated.
|  | December 31, 2009 |
|  | Public | Private | Total |
|  | Carrying amount | Gross unrealized losses | Carrying amount | Gross unrealized losses | Carrying amount | Gross unrealized losses |
|  | (in millions) |

|  | (in millions) |
| Three months or less | $55.7 | $3.3 | $52.8 | $1.2 | $108.5 | $4.5 |
| Greater than three to six months | 3.4 | — | 14.8 | — | 18.2 | — |
| Greater than six to nine months | 12.7 | 0.2 | 0.1 | 0.1 | 12.8 | 0.3 |
| Greater than nine to twelve months | 32.8 | 11.2 | 1.0 | 1.8 | 33.8 | 13.0 |
| Greater than twelve to twenty-four months | 441.3 | 112.2 | 365.6 | 186.7 | 806.9 | 298.9 |
| Greater than twenty-four to thirty-six months | 609.0 | 314.8 | 403.5 | 435.8 | 1,012.5 | 750.6 |

| Greater than thirty-six months | 113.8 | 26.8 | 84.6 | 76.6 | 198.4 | 103.4 |
| Total fixed maturity securities, available-for-sale | $1,268.7 | $468.5 | $922.4 | $702.2 | $2,191.1 | $1,170.7 |
December 31, 2008
|  | December 31, 2008 |
|  | Public | Private | Total |
|  | Carrying amount | Gross unrealized losses | Carrying amount | Gross unrealized losses | Carrying amount | Gross unrealized losses |
|  | (in millions) |
| Three months or less | $133.1 | $56.5 | $114.6 | $32.1 | $247.7 | $88.6 |

| Greater than three to six months | 88.8 | 12.7 | 297.1 | 74.3 | 385.9 | 87.0 |
| Greater than six to nine months | 102.5 | 42.9 | 129.1 | 46.5 | 231.6 | 89.4 |
| Greater than nine to twelve months | 163.0 | 65.9 | 44.5 | 43.7 | 207.5 | 109.6 |
| Greater than twelve to twenty-four months | 242.0 | 151.7 | 351.8 | 239.5 | 593.8 | 391.2 |
| Greater than twenty-four to thirty-six months | 41.2 | 26.1 | 13.3 | 21.4 | 54.5 | 47.5 |
| Greater than thirty-six months | 100.3 | 29.7 | 100.9 | 30.3 | 201.2 | 60.0 |

| Total fixed maturity securities, available-for-sale | $870.9 | $385.5 | $1,051.3 | $487.8 | $1,922.2 | $873.3 |
The following tables present the carrying amount and the gross unrealized losses, including other-than-temporary impairment losses reported in OCI, on fixed maturity securities available-for-sale where the estimated fair value has declined and remained below amortized cost by 20% or more as the time periods indicate.

Principal Financial Group, Inc. Notes to Consolidated Financial Statements — (continued) 10.
 Debt — (continued) Long-Term Debt components of long-term debt as of December 31, 2009 and 2008, follows:
 May 18, 2009, issued $750. 0 million senior notes.
 issued $400. 0 million series notes bear interest at 7. 875% mature May 15, 2014, $350. 0 million series notes bear interest at 8. 875% mature May 15, 2019.
 Interest notes payable semi-annually May 15 and November 15 each year beginning November 15, 2009.

proceeds primarily used to refinance $440. 9 million of notes matured August 15, 2009, remaining proceeds used for general corporate purposes.
 October 16 and December 5, 2006, issued $500. 0 million and $100. 0 million senior notes.
 notes bear interest at rate of 6. 05% per year.
 Interest notes payable semi-annually April 15 October 15 each year began April 15, 2007.
 notes mature October 15, 2036.

notes mature October 15, 2036.
 portion of proceeds used to fund 2006 acquisition of WM Advisors, Inc. remaining proceeds used for general corporate purposes.
 November 3, 2005, Principal International de Chile S. A. , wholly owned indirect subsidiary entered long-term borrowing agreements with two Chilean banks amount US $93. 9 million.
 debt denominated in Unidades de Formento (‘‘UF’’), Chilean inflation-indexed, peso-denominated monetary unit.

US $49. 0 million of UF +3. 31% notes refinanced from +4. 59% during 2007, US $44. 9 million of UF +3. 63% notes refinanced from +4. 93% in 2007, mature November 3, 2011.
 Interest on notes payable semi-annually May 3 and November 3 each year.
debt outstanding interest expense vary due to fluctuations in Chilean peso to US dollar exchange rates Chilean inflation.
 August 25, 1999, Principal Financial Group (Australia) Holdings Pty.

Limited, wholly owned indirect subsidiary issued $665. 0 million of unsecured redeemable long-term debt.
 Principal.
 used net proceeds from notes to partially fund purchase of outstanding stock of companies affiliated with Bankers Trust Australia Group.
 December 28, 2001, long-term debt obligations of Principal Financial Group Holdings Pty.

assumed by parent, Principal Financial Services, Inc. original amount issued, $200. 0 million of 7. 95% notes matured August 15, 2004, remaining $465. 0 million in 8. 2% notes maturing on August 15, 2009.
 note paid in full during 2009.
 March 10, 1994 Principal Life issued $100. 0 million of surplus notes due March 1, 2044, at 8% annual interest rate.
 None affiliates hold portion of notes.

None affiliates hold portion of notes.
 payment of interest principal on notes made only with prior approval of Commissioner of Insurance of State of Iowa ‘‘Commissioner’’ extent Principal Life has sufficient surplus earnings to make payments.
 Interest of $8. 0 million for each years ended December 31, 2009, 2008 2007 approved by Commissioner charged to expense.

Subject to Commissioner approval notes due March 1, 2044, may be redeemed at Principal Life’s election or after March 1, 2014, in whole or in part at redemption price of approximately 102. 3% of par.
 approximate 2. 3% premium scheduled to gradually diminish over following ten years.
 notes be redeemed or after March 1, 2024, at redemption price of 100% of principal amount plus interest accrued to date of redemption.
non-recourse mortgages other notes payable financings for real estate developments.

principal balances as of December 31, 2009, ranged from $5. 9 million to $9. 1 million

|  | December 31, |
|  | 2009 | 2008 |
|  | (in millions) |
| 8.2% notes payable, due 2009 | $— | $454.9 |
| 3.31% notes payable, due 2011 | 61.2 | 49.9 |
| 3.63% notes payable, due 2011 | 31.4 | 25.6 |
| 7.875% notes payable, due 2014 | 400.0 | — |
| 8.875% notes payable, due 2019 | 350.0 | — |
| 6.05% notes payable, due 2036 | 601.8 | 601.8 |
| 8% surplus notes payable, due 2044 | 99.2 | 99.2 |
| Non-recourse mortgages and notes payable | 40.6 | 58.7 |
| Other mortgages and notes payable | 0.4 | 0.4 |

| Other mortgages and notes payable | 0.4 | 0.4 |
| Total long-term debt | $1,584.6 | $1,290.5 |
|  | December 31, 2008 |
|  | Public | Private | Total |
|  | Carrying amount | Gross unrealized losses | Carrying amount | Gross unrealized losses | Carrying amount | Gross unrealized losses |
|  | (in millions) |
| Three months or less | $3,086.0 | $194.4 | $1,188.1 | $99.5 | $4,274.1 | $293.9 |
| Greater than three to six months | 4,213.7 | 467.9 | 1,673.6 | 236.4 | 5,887.3 | 704.3 |

| Greater than six to nine months | 3,014.0 | 620.7 | 1,566.6 | 290.6 | 4,580.6 | 911.3 |
| Greater than nine to twelve months | 2,321.0 | 743.0 | 1,259.7 | 460.1 | 3,580.7 | 1,203.1 |
| Greater than twelve to twenty-four months | 3,042.0 | 1,507.5 | 2,217.1 | 1,519.7 | 5,259.1 | 3,027.2 |
| Greater than twenty-four to thirty-six months | 1,045.2 | 296.1 | 312.5 | 217.1 | 1,357.7 | 513.2 |
| Greater than thirty-six months | 1,363.8 | 423.5 | 698.2 | 265.8 | 2,062.0 | 689.3 |

| Total fixed maturity securities, available-for-sale | $18,085.7 | $4,253.1 | $8,915.8 | $3,089.2 | $27,001.5 | $7,342.3 |
|  | December 31, 2009 |
|  | Public | Private | Total |
|  | Carrying amount | Gross unrealized losses | Carrying amount | Gross unrealized losses | Carrying amount | Gross unrealized losses |
|  | (in millions) |
| Three months or less | $55.7 | $3.3 | $52.8 | $1.2 | $108.5 | $4.5 |
| Greater than three to six months | 3.4 | — | 14.8 | — | 18.2 | — |

| Greater than six to nine months | 12.7 | 0.2 | 0.1 | 0.1 | 12.8 | 0.3 |
| Greater than nine to twelve months | 32.8 | 11.2 | 1.0 | 1.8 | 33.8 | 13.0 |
| Greater than twelve to twenty-four months | 441.3 | 112.2 | 365.6 | 186.7 | 806.9 | 298.9 |
| Greater than twenty-four to thirty-six months | 609.0 | 314.8 | 403.5 | 435.8 | 1,012.5 | 750.6 |
| Greater than thirty-six months | 113.8 | 26.8 | 84.6 | 76.6 | 198.4 | 103.4 |

| Total fixed maturity securities, available-for-sale | $1,268.7 | $468.5 | $922.4 | $702.2 | $2,191.1 | $1,170.7 |
|  | December 31, 2008 |
|  | Public | Private | Total |
|  | Carrying amount | Gross unrealized losses | Carrying amount | Gross unrealized losses | Carrying amount | Gross unrealized losses |
|  | (in millions) |
| Three months or less | $133.1 | $56.5 | $114.6 | $32.1 | $247.7 | $88.6 |
| Greater than three to six months | 88.8 | 12.7 | 297.1 | 74.3 | 385.9 | 87.0 |

| Greater than six to nine months | 102.5 | 42.9 | 129.1 | 46.5 | 231.6 | 89.4 |
| Greater than nine to twelve months | 163.0 | 65.9 | 44.5 | 43.7 | 207.5 | 109.6 |
| Greater than twelve to twenty-four months | 242.0 | 151.7 | 351.8 | 239.5 | 593.8 | 391.2 |
| Greater than twenty-four to thirty-six months | 41.2 | 26.1 | 13.3 | 21.4 | 54.5 | 47.5 |
| Greater than thirty-six months | 100.3 | 29.7 | 100.9 | 30.3 | 201.2 | 60.0 |

| Total fixed maturity securities, available-for-sale | $870.9 | $385.5 | $1,051.3 | $487.8 | $1,922.2 | $873.3 |


, Title: 
Text: | _id | d812c0dbe |
| title |  |
| text | Free Cash Flow We define free cash flow, which is not a measure determined in accordance with Generally Accepted Accounting Principles in the United States, as cash provided by operating activities less purchases of property and equipment plus proceeds from sales of property and equipment as presented in our Consolidated Statements of Cash Flows.
Our free cash flow for the years ended December 31, 2005, 2004 and 2003 is calculated as follows (in millions):

Free Cash Flow define free cash flow not measure determined with Generally Accepted Accounting Principles in United States, as cash provided by operating activities less purchases property equipment plus proceeds from sales property equipment as presented in Consolidated Statements of Cash Flows.
 free cash flow for years ended December 31, 2005, 2004 2003 calculated as follows (in millions):


, Title: 
Text: | _id | d8204fe4e |
| title |  |
| text | CASH FLOW ANALYSIS We use the indirect method to prepare our Consolidated Statements of Cash Flows.
Under this method, we reconcile net income to cash flows provided by operating activities by adjusting net income for those items that impact net income but do not result in actual cash receipts or payments during the period and for operating cash items that do not impact net income.

These reconciling items include depreciation and amortization, allowance for equity funds used during construction, gain or loss on sale of assets, equity earnings from investments, distributions received from unconsolidated affiliates, deferred income taxes, share-based compensation expense, other amounts, and changes in our assets and liabilities not classified as investing or financing activities.

The following table sets forth the changes in cash flows by operating, investing and financing activities for the periods indicated:

CASH FLOW ANALYSIS use indirect method prepare Consolidated Statements of Cash Flows.
 Under method reconcile net income to cash flows operating activities by adjusting net income for items impact net income not result in actual cash receipts or payments period for operating cash items not impact net income.

reconciling items include depreciation amortization allowance for equity funds used during construction gain or loss on sale of assets equity earnings from investments distributions from unconsolidated affiliates deferred income taxes share-based compensation expense other amounts changes in assets and liabilities not classified investing or financing activities.
 table sets changes in cash flows by operating, investing financing activities for periods indicated:


, source_sentence: Instruct: Given a web search query, retrieve relevant passages that answer the query.
Query: Title: 
Text: | _id | q82a8646c |
| title |  |
| text | What's the average of Curtailments and Settlements and Special termination benefits in 2010? (in million)

's average of Curtailments Settlements Special termination benefits in 2010? (in million)



sentences: Title: 
Text: | _id | d82441980 |
| title |  |
| text | Income Tax Liabilities Noncurrent deferred income tax liabilities as of 30 September 2015 were $903.3.
Tax liabilities related to unrecognized tax benefits as of 30 September 2015 were $97.5.
These tax liabilities were excluded from the Contractual Obligations table, as it is impractical to determine a cash impact by year given that payments will vary according to changes in tax laws, tax rates, and our operating results.

In addition, there are uncertainties in timing of the effective settlement of our uncertain tax positions with respective taxing authorities.
Refer to Note 23, Income Taxes, to the consolidated financial statements for additional information.

Income Tax Liabilities Noncurrent deferred income tax liabilities as of 30 September 2015 were $903. 3.
 Tax liabilities related to unrecognized tax benefits 30 September 2015 were $97. 5.
 These tax liabilities excluded from Contractual Obligations table impractical to determine cash impact by year payments vary according to changes in tax laws tax rates operating results.
 uncertainties in timing of effective settlement of uncertain tax positions with taxing authorities.

Refer to Note 23, Income Taxes consolidated financial statements for additional information.


, Title: 
Text: | _id | d6166fc08 |
| title |  |
| text | management 2019s discussion and analysis liquidity risk management liquidity is of critical importance to financial institutions .
most of the failures of financial institutions have occurred in large part due to insufficient liquidity .
accordingly , the firm has in place a comprehensive and conservative set of liquidity and funding policies to address both firm-specific and broader industry or market liquidity events .

our principal objective is to be able to fund the firm and to enable our core businesses to continue to serve clients and generate revenues , even under adverse circumstances .
we manage liquidity risk according to the following principles : excess liquidity .
we maintain substantial excess liquidity to meet a broad range of potential cash outflows and collateral needs in a stressed environment .
asset-liability management .

asset-liability management .
we assess anticipated holding periods for our assets and their expected liquidity in a stressed environment .
we manage the maturities and diversity of our funding across markets , products and counterparties , and seek to maintain liabilities of appropriate tenor relative to our asset base .
contingency funding plan .
we maintain a contingency funding plan to provide a framework for analyzing and responding to a liquidity crisis situation or periods of market stress .

this framework sets forth the plan of action to fund normal business activity in emergency and stress situations .
these principles are discussed in more detail below .
excess liquidity our most important liquidity policy is to pre-fund our estimated potential cash and collateral needs during a liquidity crisis and hold this excess liquidity in the form of unencumbered , highly liquid securities and cash .

we believe that the securities held in our global core excess would be readily convertible to cash in a matter of days , through liquidation , by entering into repurchase agreements or from maturities of resale agreements , and that this cash would allow us to meet immediate obligations without needing to sell other assets or depend on additional funding from credit-sensitive markets .

as of december 2013 and december 2012 , the fair value of the securities and certain overnight cash deposits included in our gce totaled $ 184.07 billion and $ 174.62 billion , respectively .

based on the results of our internal liquidity risk model , discussed below , as well as our consideration of other factors including , but not limited to , an assessment of our potential intraday liquidity needs and a qualitative assessment of the condition of the financial markets and the firm , we believe our liquidity position as of both december 2013 and december 2012 was appropriate .

the table below presents the fair value of the securities and certain overnight cash deposits that are included in our gce .
average for the year ended december in millions 2013 2012 .

in millions                  | average for theyear ended december 2013 | average for theyear ended december 2012
---------------------------- | --------------------------------------- | ---------------------------------------
u.s . dollar-denominated     | $ 136824                                | $ 125111                               
non-u.s . dollar-denominated | 45826                                   | 46984

total                        | $ 182650                                | $ 172095

the u.s .
dollar-denominated excess is composed of ( i ) unencumbered u.s .
government and federal agency obligations ( including highly liquid u.s .
federal agency mortgage-backed obligations ) , all of which are eligible as collateral in federal reserve open market operations and ( ii ) certain overnight u.s .
dollar cash deposits .
the non- u.s .

dollar cash deposits .
the non- u.s .
dollar-denominated excess is composed of only unencumbered german , french , japanese and united kingdom government obligations and certain overnight cash deposits in highly liquid currencies .
we strictly limit our excess liquidity to this narrowly defined list of securities and cash because they are highly liquid , even in a difficult funding environment .

we do not include other potential sources of excess liquidity , such as less liquid unencumbered securities or committed credit facilities , in our gce .
goldman sachs 2013 annual report 83

management 2019s discussion analysis liquidity risk management liquidity critical importance to financial institutions.
 most failures of financial institutions occurred in due to insufficient liquidity.
 the firm has comprehensive conservative liquidity and funding policies to address firm-specific and broader industry or market liquidity events.
 principal objective is to to fund firm enable core businesses to continue serve clients generate revenues  even under adverse circumstances.

we manage liquidity risk according to principles : excess liquidity.
 maintain substantial excess liquidity to meet broad potential cash outflows collateral needs in stressed environment.
 asset-liability management.
 assess anticipated holding periods for assets and expected liquidity in stressed environment.
 manage maturities diversity of funding across markets  products counterparties  maintain liabilities of appropriate tenor relative to asset base.
 contingency funding plan.

contingency funding plan.
 maintain contingency funding plan framework for analyzing responding to liquidity crisis situation or market stress.
 framework sets forth plan of action to fund normal business activity in emergency stress situations.
 principles discussed in more detail below.
 excess liquidity important liquidity policy is to pre-fund estimated potential cash and collateral needs during liquidity crisis hold excess liquidity in form of unencumbered , highly liquid securities and cash.

believe securities held in our global core excess would be readily convertible to cash in days , through liquidation , by entering repurchase agreements or from maturities of resale agreements this cash would allow us to meet immediate obligations without needing to sell other assets or depend on additional funding from credit-sensitive markets.

as of december 2013 and december 2012  fair value of securities and certain overnight cash deposits included in our gce totaled $ 184. 07 billion and $ 174. 62 billion , respectively.
based on results of our internal liquidity risk model discussed consideration of other factors including assessment of potential intraday liquidity needs qualitative assessment of condition of financial markets and firm  believe our liquidity position both december 2013 and december 2012 was appropriate.

table below presents fair value of securities certain overnight cash deposits included in our gce.
 average for year ended december in millions 2013 2012.
 in millions | average for theyear ended december 2013| average ended december 2012
 ----------------------------|
 u. s. dollar-denominated | $ 136824 | $ 125111
 non-u. s. dollar-denominated | 45826 | 46984
 total | $ 182650 | $ 172095
 u. s.
 dollar-denominated excess is composed of i ) unencumbered u. s.

government and federal agency obligations ( including highly liquid.
 federal agency mortgage-backed obligations ) eligible as collateral in federal reserve open market operations ii certain overnight u. s.
 dollar cash deposits.
 non- u. s.
 dollar-denominated excess composed of only unencumbered german , french, japanese united kingdom government obligations and certain overnight cash deposits in highly liquid currencies.

limit excess liquidity to this narrowly defined list of securities and cash because highly liquid  even in difficult funding environment.
 do not include other potential sources of excess liquidity less liquid unencumbered securities or committed credit facilities in gce.
 goldman sachs 2013 annual report 83


, Title: 
Text: | _id | d1a72949e |
| title |  |
| text | Products
The Registrant has the ability to produce a wide range of processed chicken products and prepared chicken items.

Processed chicken is first salable as an ice-packed, whole chicken. The Registrant adds value to its ice-packed, whole chickens by removing the giblets, weighing, packaging and labeling the product to specific customer requirements and cutting and deboning the product based on customer specifications. The additional processing steps of giblet removal, close tolerance weighing and cutting increase the value of the product to the customer over whole, ice-packed chickens by reducing customer handling and

chickens by reducing customer handling and cutting labor and capital costs, reducing the shrinkage associated with cutting, and ensuring consistently sized portions.

The Registrant adds additional value to the processed chicken by deep chilling and packaging whole chickens in bags or combinations of fresh chicken parts, including boneless product, in various sized, individual trays under the Registrant’s brand name, which then may be weighed and pre-priced, based on each customer’s needs. This chill-pack process increases the value of the product by extending shelf life, reducing customer weighing and packaging labor, and providing the customer with a wide variety of

and providing the customer with a wide variety of products with uniform, well designed packaging, all of which enhance the customer’s ability to merchandise chicken products.

To satisfy some customers’ merchandising needs, the Registrant freezes the chicken product, which adds value by meeting the customers’ handling, storage, distribution and marketing needs and by permitting shipment of product overseas where transportation time may be as long as 60 days.
The following table sets forth, for the periods indicated, the contribution, as a percentage of net sales dollars, of each of the Registrant’s major product lines.

|         |         | Fiscal Year Ended October 31,  |         |       
-------------------------------- | ------- | ------- | ------------------------------ | ------- | ------
                                 | 2019    | 2018    | 2017                           | 2016    | 2015  
Registrant processed chicken:    |         |         |                                |         |

Value added:                     |         |         |                                |         |       
Fresh vacuum-sealed              | 38.3 %  | 35.2 %  | 39.8 %                         | 37.6 %  | 35.2% 
Fresh chill-packed               | 32.9    | 35.6    | 31.0                           | 34.7    | 36.9  
Fresh bulk-packed                | 14.4    | 15.1    | 16.4                           | 15.1    | 13.9

Frozen                           | 6.2     | 6.5     | 6.7                            | 5.1     | 6.3   
Subtotal                         | 91.8    | 92.4    | 93.9                           | 92.5    | 92.3  
Non-value added:                 |         |         |                                |         |       
Fresh ice-packed                 | 1.2     | 1.2     | 1.0                            | 0.9     | 1.0

Subtotal                         | 1.2     | 1.2     | 1.0                            | 0.9     | 1.0   
Total Company processed chicken  | 93.0    | 93.6    | 94.9                           | 93.4    | 93.3  
Minimally prepared chicken       | 7.0     | 6.4     | 5.1                            | 6.6     | 6.7   
Total                            | 100.0 % | 100.0 % | 100.0 %                        | 100.0 % | 100.0%

Products
 Registrant produce wide range of processed chicken products and prepared chicken items.

Processed chicken first salable as ice-packed, whole chicken. Registrant adds value to ice-packed whole chickens by removing giblets weighing packaging labeling product to specific customer requirements cutting deboning product based on customer specifications. additional processing steps of giblet removal, close tolerance weighing cutting increase value product customer over whole, ice-packed chickens by reducing customer handling cutting labor capital costs reducing shrinkage associated with cutting

costs reducing shrinkage associated with cutting ensuring consistently sized portions.

Registrant adds additional value to processed chicken by deep chilling packaging whole chickens in bags or combinations of fresh chicken parts, including boneless product, in various sized individual trays under Registrant’s brand name, may be weighed pre-priced, based on each customer’s needs. chill-pack process increases value product by extending shelf life reducing customer weighing packaging labor providing customer with wide variety of products with uniform, well designed packaging enhance

with uniform, well designed packaging enhance customer’s ability to merchandise chicken products.

To satisfy some customers’ merchandising needs, Registrant freezes chicken product adds value by meeting customers’ handling, storage distribution marketing needs permitting shipment of product overseas where transportation time may be as long as 60 days.
 following table sets forth for periods, contribution, as percentage of net sales dollars, of each of Registrant’s major product lines.

|         |         | Fiscal Year Ended October 31,  |         |       
-------------------------------- | ------- | ------- | ------------------------------ | ------- | ------
                                 | 2019    | 2018    | 2017                           | 2016    | 2015  
Registrant processed chicken:    |         |         |                                |         |       
Value added:                     |         |         |                                |         |

Fresh vacuum-sealed              | 38.3 %  | 35.2 %  | 39.8 %                         | 37.6 %  | 35.2% 
Fresh chill-packed               | 32.9    | 35.6    | 31.0                           | 34.7    | 36.9  
Fresh bulk-packed                | 14.4    | 15.1    | 16.4                           | 15.1    | 13.9  
Frozen                           | 6.2     | 6.5     | 6.7                            | 5.1     | 6.3

Subtotal                         | 91.8    | 92.4    | 93.9                           | 92.5    | 92.3  
Non-value added:                 |         |         |                                |         |       
Fresh ice-packed                 | 1.2     | 1.2     | 1.0                            | 0.9     | 1.0   
Subtotal                         | 1.2     | 1.2     | 1.0                            | 0.9     | 1.0

Total Company processed chicken  | 93.0    | 93.6    | 94.9                           | 93.4    | 93.3  
Minimally prepared chicken       | 7.0     | 6.4     | 5.1                            | 6.6     | 6.7   
Total                            | 100.0 % | 100.0 % | 100.0 %                        | 100.0 % | 100.0%


, source_sentence: Instruct: Given a web search query, retrieve relevant passages that answer the query.
Query: Title: 
Text: | _id | q83deb16a |
| title |  |
| text | In the section with the most Bank deposits, what is the growth rate of Collateral financing arrangements?

In section with most Bank deposits, what growth rate of Collateral financing arrangements?



sentences: Title: 
Text: | _id | d81f933f2 |
| title |  |
| text | | Cash | $45,826 |
| Customer-related intangible assets | 42,721 |
| Acquired technology | 27,954 |
| Trade name | 2,901 |
| Other assets | 2,337 |
| Deferred income tax assets (liabilities) | -9,788 |
| Other liabilities | -49,797 |
| Total identifiable net assets | 62,154 |
| Goodwill | 203,828 |
| Total purchase consideration | $265,982 |

| Total purchase consideration | $265,982 |
Goodwill of $203.8 million arising from the acquisition, included in the Asia-Pacific segment, was attributable to expected growth opportunities in Australia and New Zealand, as well as growth opportunities and operating synergies in integrated payments in our existing Asia-Pacific and North America markets.
Goodwill associated with this acquisition is not deductible for income tax purposes.

The customer-related intangible assets have an estimated amortization period of 15 years.
The acquired technology has an estimated amortization period of 15 years.
The trade name has an estimated amortization period of 5 years.
NOTE 3  SETTLEMENT PROCESSING ASSETS AND OBLIGATIONS Funds settlement refers to the process of transferring funds for sales and credits between card issuers and merchants.

For transactions processed on our systems, we use our internal network to provide funding instructions to financial institutions that in turn fund the merchants.
We process funds settlement under two models, a sponsorship model and a direct membership model.

Under the sponsorship model, we are designated as a Merchant Service Provider by MasterCard and an Independent Sales Organization by Visa, which means that member clearing banks (Member) sponsor us and require our adherence to the standards of the payment networks.
In certain markets, we have sponsorship or depository and clearing agreements with financial institution sponsors.

These agreements allow us to route transactions under the Members control and identification numbers to clear credit card transactions through MasterCard and Visa.
In this model, the standards of the payment networks restrict us from performing funds settlement or accessing merchant settlement funds, and, instead, require that these funds be in the possession of the Member until the merchant is funded.

Under the direct membership model, we are members in various payment networks, allowing us to process and fund transactions without third-party sponsorship.
In this model, we route and clear transactions directly through the card brands network and are not restricted from performing funds settlement.
Otherwise, we process these transactions similarly to how we process transactions in the sponsorship model.
We are required to adhere to the standards of the payment networks in which we are direct members.

We maintain relationships with financial institutions, which may also serve as our Member sponsors for other card brands or in other markets, to assist with funds settlement.
Timing differences, interchange fees, Merchant Reserves and exception items cause differences between the amount received from the payment networks and the amount funded to the merchants.

These intermediary balances arising in our settlement process for direct merchants are reflected as settlement processing assets and obligations on our consolidated balance sheets.
Settlement processing assets and obligations include the components outlined below: ?
Interchange reimbursement.
Our receivable from merchants for the portion of the discount fee related to reimbursement of the interchange fee.

x The Executive Benefits business offers corporate-owned universal and variable universal life insurance (COLI) and bankowned universal and variable universal life insurance (BOLI) to small to mid-sized banks and mid to large-sized corporations, mostly through executive benefit brokers.11 The Group Protection segment focuses on offering group term life, disability income and dental insurance primarily in the small to mid-sized employer marketplace for their eligible employees.

Employer Markets - Retirement Products The Defined Contribution business is the largest business in this segment and focuses on 403(b) plans and 401(k) plans.
Lincoln has a strong historical presence in the 403(b) space where assets account for about 61% of total assets under management in this segment as of December 31, 2007.
The 401(k) business accounts for 51% of our new deposits as of December 31, 2007.
The Retirement Products segments deposits (in millions) were as follows:

Goodwill associated with acquisition not deductible for income tax purposes.
 customer-related intangible assets have estimated amortization period of 15 years.
 acquired technology has estimated amortization period of 15 years.
 trade name has estimated amortization period 5 years.
 NOTE 3  SETTLEMENT PROCESSING ASSETS AND OBLIGATIONS Funds settlement refers to process transferring funds for sales and credits between card issuers and merchants.

For transactions processed on our systems we use our internal network to provide funding instructions to financial institutions fund merchants.
 We process funds settlement under two models, sponsorship model and direct membership model.
 Under sponsorship model we designated as Merchant Service Provider by MasterCard and Independent Sales Organization by Visa member clearing banks (Member) sponsor us require adherence to standards of payment networks.

In certain markets we have sponsorship or depository and clearing agreements with financial institution sponsors.
 agreements allow us to route transactions under Members control identification numbers to clear credit card transactions through MasterCard and Visa.
 In model standards of payment networks restrict us from performing funds settlement or accessing merchant settlement funds require funds be in possession of Member until merchant funded.

Under direct membership model we members in various payment networks process and fund transactions without third-party sponsorship.
 model route and clear transactions directly through card brands network not restricted from performing funds settlement.
 process transactions similarly to in sponsorship model.
 required to adhere to standards of payment networks in we direct members.

maintain relationships with financial institutions, may serve as Member sponsors for other card brands in other markets, to assist with funds settlement.
Timing differences interchange fees Merchant Reserves exception items cause differences between amount received from payment networks and amount funded to merchants.
 intermediary balances in settlement process for direct merchants are reflected as settlement processing assets obligations on consolidated balance sheets.

Settlement processing assets obligations include components ?
 Interchange reimbursement.
 receivable from merchants for portion of discount fee related to reimbursement interchange fee.

Executive Benefits business offers corporate-owned universal variable universal life insurance and bankowned universal variable universal life insurance (BOLI to small to mid-sized banks large-sized corporations mostly through executive benefit brokers. Group Protection segment focuses on group term life, disability income dental insurance in small to mid-sized employer marketplace for eligible employees.

Employer Markets - Retirement Products Defined Contribution business is largest business in segment focuses on 403(b) plans 401(k) plans.
 Lincoln has strong historical presence in 403(b) space assets account for about 61% of total assets under management in as of December 31, 2007.
 401(k) business accounts for 51% of new deposits as of December 31, 2007.
 Retirement Products segments deposits (in millions) were as

| Cash | $45,826 |
| Customer-related intangible assets | 42,721 |
| Acquired technology | 27,954 |
| Trade name | 2,901 |
| Other assets | 2,337 |
| Deferred income tax assets (liabilities) | -9,788 |
| Other liabilities | -49,797 |
| Total identifiable net assets | 62,154 |
| Goodwill | 203,828 |
| Total purchase consideration | $265,982 |


, Title: 
Text: | _id | d83b9f596 |
| title |  |
| text | Contractual Obligations.
The following table summarizes the Company’s major contractual obligations at December 31, 2009:
| Contractual Obligations | Total | Less Than   One Year | More Than   One Year and   Less Than   Three Years | More Than   Three Years   and Less   Than Five   Years | More Than   Five Years |
|  | (In millions) |
| Future policy benefits | $310,592 | $7,220 | $10,681 | $11,424 | $281,267 |
| Policyholder account balances | 198,087 | 22,764 | 30,586 | 24,536 | 120,201 |

| Other policyholder liabilities | 6,142 | 6,142 | — | — | — |
| Payables for collateral under securities loaned and other transactions | 24,196 | 24,196 | — | — | — |
| Bank deposits | 10,354 | 8,998 | 1,293 | 63 | — |
| Short-term debt | 912 | 912 | — | — | — |
| Long-term debt | 21,138 | 1,155 | 4,214 | 2,312 | 13,457 |
| Collateral financing arrangements | 6,694 | 61 | 122 | 122 | 6,389 |
| Junior subordinated debt securities | 10,450 | 258 | 517 | 517 | 9,158 |

| Commitments to lend funds | 7,549 | 7,349 | 177 | 4 | 19 |
| Operating leases | 1,996 | 287 | 427 | 288 | 994 |
| Other | 11,788 | 11,374 | 6 | 6 | 402 |
| Total | $609,898 | $90,716 | $48,023 | $39,272 | $431,887 |

Future policyholder benefits — Future policyholder benefits include liabilities related to traditional whole life policies, term life policies, pension closeout and other group annuity contracts, structured settlements, master terminal funding agreements, single premium immediate annuities, long-term disability policies, individual disability income policies, long-term care (“LTC”) policies and property and casualty contracts.

Included within future policyholder benefits are contracts where the Company is currently making payments and will continue to do so until the occurrence of a specific event such as death, as well as those where the timing of a portion of the payments has been determined by the contract.

Also included are contracts where the Company is not currently making payments and will not make payments until the occurrence of an insurable event, such as death or illness, or where the occurrence of the payment triggering event, such as a surrender of a policy or contract, is outside the control of the Company.
The Company has estimated the timing of the cash flows related to these contracts based on historical experience, as well as its expectation of future payment patterns.

Liabilities related to accounting conventions, or which are not contractually due, such as shadow liabilities, excess interest reserves and property and casualty loss adjustment expenses, of $498 million have been excluded from amounts presented in the table above.

Amounts presented in the table above, excluding those related to property and casualty contracts, represent the estimated cash payments for benefits under such contracts including assumptions related to the receipt of future premiums and assumptions related to mortality, morbidity, policy lapse, renewal, retirement, inflation, disability incidence, disability terminations, policy loans and other contingent events as appropriate to the respective product type.

Payments for case reserve liabilities and incurred but not reported liabilities associated with property and casualty contracts of $1.5 billion have been included using an estimate of the ultimate amount to be settled under the policies based upon historical payment patterns.

The ultimate amount to be paid under property and casualty contracts is not determined until the Company reaches a settlement with the claimant, which may vary significantly from the liability or contractual obligation presented above especially as it relates to incurred but not reported liabilities.
All estimated cash payments presented in the table above are undiscounted as to interest, net of estimated future premiums on policies currently in-force and gross of any reinsurance recoverable.

The more than five years category includes estimated payments due for periods extending for more than 100 years from the present date.

The sum of the estimated cash flows shown for all years in the table of $310.6 billion exceeds the liability amount of $135.9 billion included on the consolidated balance sheet principally due to the time value of money, which accounts for at least 80% of the difference, as well as differences in assumptions, most significantly mortality, between the date the liabilities were initially established and the current date.

For the majority of the Company’s insurance operations, estimated contractual obligations for future policy benefits and policyholder account balance liabilities as presented in the table above are derived from the annual asset adequacy analysis used to develop actuarial opinions of statutory reserve adequacy for state regulatory purposes.
These cash flows are materially representative of the cash flows under generally accepted accounting principles.
(See “— Policyholder account balances” below. )

(See “— Policyholder account balances” below. )
Actual cash payments to policyholders may differ significantly from the liabilities as presented in the consolidated balance sheet and the estimated cash payments as presented in the table above due to differences between actual experience and the assumptions used in the establishment of these liabilities and the estimation of these cash payments.

Policyholder account balances — Policyholder account balances include liabilities related to conventional guaranteed interest contracts, guaranteed interest contracts associated with formal offering programs, funding agreements, individual and group annuities, total control accounts, individual and group universal life, variable universal life and company-owned life insurance.

Included within policyholder account balances are contracts where the amount and timing of the payment is essentially fixed and determinable.
These amounts relate to policies where the Company is currently making payments and will continue to do so, as well as those where the timing of the payments has been determined by the contract.

Other contracts involve payment obligations where the timing of future payments is uncertain and where the Company is not currently making payments and will not make payments until the occurrence of an insurable event, such as death, or where the occurrence of the payment triggering event, such as a surrender of or partial withdrawal on a policy or deposit contract, is outside the control of the Company.

The Company has estimated the timing of the cash flows related to these contracts based on historical experience, as well as its expectation of future payment patterns.
Excess interest reserves representing purchase accounting adjustments of $565 million have been excluded from amounts presented in the table above as they represent an accounting convention and not a contractual obligation.

Contractual Obligations.
 table summarizes Company’s major contractual obligations at December 31, 2009:
 Included within future policyholder benefits are contracts where Company is currently making payments and will continue to until specific event death, those where timing of portion of payments determined by contract.

Also included are contracts where Company not currently making payments and will not make payments until insurable event, death or illness, or where occurrence payment triggering event surrender of policy or contract, outside control of Company.
 Company estimated timing of cash flows related to these contracts based on historical experience expectation of future payment patterns.

Liabilities related to accounting conventions, or not contractually due, shadow liabilities, excess interest reserves and property and casualty loss adjustment expenses, of $498 million excluded from amounts in table above.

Amounts presented in table above, excluding related to property and casualty contracts, represent estimated cash payments for benefits under such contracts including assumptions related to receipt of future premiums and assumptions related to mortality, morbidity, policy lapse, renewal, retirement, inflation, disability incidence, disability terminations, policy loans and other contingent events as appropriate to respective product type.

Payments for case reserve liabilities and incurred but not reported liabilities associated with property and casualty contracts of $1. 5 billion included using estimate of ultimate amount to be settled under policies based upon historical payment patterns.

ultimate amount to be paid under property and casualty contracts is not determined until Company reaches settlement with claimant, which may vary significantly from liability or contractual obligation presented above especially to incurred but not reported liabilities.
estimated cash payments in table above are undiscounted to interest, net of estimated future premiums on policies currently in-force gross of reinsurance recoverable.

more than five years category includes estimated payments due for periods extending for more than 100 years from present date.
 sum of estimated cash flows for all years in table of $310. 6 billion exceeds liability amount of $135. 9 billion on consolidated balance sheet principally due to time value of money accounts for at least 80% of difference differences in assumptions, significantly mortality, between date liabilities initially established and current date.

For majority of Company’s insurance operations, estimated contractual obligations for future policy benefits and policyholder account balance liabilities in table derived from annual asset adequacy analysis to develop actuarial opinions of statutory reserve adequacy for state regulatory purposes.
 cash flows representative of cash flows under generally accepted accounting principles.
 (See “— Policyholder account balances” below.

(See “— Policyholder account balances” below.
 Actual cash payments to policyholders may differ significantly from liabilities in consolidated balance sheet and estimated cash payments in table due to differences between actual experience and assumptions used in establishment of liabilities estimation of cash payments.

Policyholder account balances — Policyholder account balances include liabilities related to conventional guaranteed interest contracts, guaranteed interest contracts associated with formal offering programs, funding agreements individual group annuities total control accounts individual group universal life, variable universal life company-owned life insurance.
 Included within policyholder account balances are contracts where amount and timing of payment is essentially fixed and determinable.

These amounts relate to policies where Company currently making payments and will continue those where timing payments determined by contract.
Other contracts involve payment obligations where timing of future payments uncertain where Company not currently making payments and will not make payments until occurrence of insurable event, such as death, or where occurrence of payment triggering event, as surrender of or partial withdrawal on policy or deposit contract, outside control of Company.

Company has estimated timing of cash flows related to these contracts based on historical experience, expectation of future payment patterns.
 Excess interest reserves representing purchase accounting adjustments of $565 million excluded from amounts presented in table above as they represent accounting convention not contractual obligation.

| Contractual Obligations | Total | Less Than   One Year | More Than   One Year and   Less Than   Three Years | More Than   Three Years   and Less   Than Five   Years | More Than   Five Years |
|  | (In millions) |
| Future policy benefits | $310,592 | $7,220 | $10,681 | $11,424 | $281,267 |
| Policyholder account balances | 198,087 | 22,764 | 30,586 | 24,536 | 120,201 |
| Other policyholder liabilities | 6,142 | 6,142 | — | — | — |

| Payables for collateral under securities loaned and other transactions | 24,196 | 24,196 | — | — | — |
| Bank deposits | 10,354 | 8,998 | 1,293 | 63 | — |
| Short-term debt | 912 | 912 | — | — | — |
| Long-term debt | 21,138 | 1,155 | 4,214 | 2,312 | 13,457 |
| Collateral financing arrangements | 6,694 | 61 | 122 | 122 | 6,389 |
| Junior subordinated debt securities | 10,450 | 258 | 517 | 517 | 9,158 |
| Commitments to lend funds | 7,549 | 7,349 | 177 | 4 | 19 |

| Operating leases | 1,996 | 287 | 427 | 288 | 994 |
| Other | 11,788 | 11,374 | 6 | 6 | 402 |
| Total | $609,898 | $90,716 | $48,023 | $39,272 | $431,887 |


, Title: 
Text: | _id | d61665c62 |
| title |  |
| text | management 2019s discussion and analysis 68 jpmorgan chase & co./2014 annual report consolidated results of operations the following section provides a comparative discussion of jpmorgan chase 2019s consolidated results of operations on a reported basis for the three-year period ended december 31 , 2014 .
factors that relate primarily to a single business segment are discussed in more detail within that business segment .

for a discussion of the critical accounting estimates used by the firm that affect the consolidated results of operations , see pages 161 2013165 .
revenue year ended december 31 .

( in millions )                                 | 2014    | 2013    | 2012   
----------------------------------------------- | ------- | ------- | -------
investment banking fees                         | $ 6542  | $ 6354  | $ 5808 
principal transactions ( a )                    | 10531   | 10141   | 5536   
lending- and deposit-related fees               | 5801    | 5945    | 6196   
asset management administration and commissions | 15931   | 15106   | 13868

securities gains                                | 77      | 667     | 2110   
mortgage fees and related income                | 3563    | 5205    | 8687   
card income                                     | 6020    | 6022    | 5658   
other income ( b )                              | 2106    | 3847    | 4258   
noninterest revenue                             | 50571   | 53287   | 52121  
net interest income                             | 43634   | 43319   | 44910

total net revenue                               | $ 94205 | $ 96606 | $ 97031

( a ) included funding valuation adjustments ( ( 201cfva 201d ) effective 2013 ) ) and debit valuation adjustments ( 201cdva 201d ) on over-the-counter ( 201cotc 201d ) derivatives and structured notes , measured at fair value .
fva and dva gains/ ( losses ) were $ 468 million and $ ( 1.9 ) billion for the years ended december 31 , 2014 and 2013 , respectively .
dva losses were ( $ 930 ) million for the year ended december 31 , 2012 .

( b ) included operating lease income of $ 1.7 billion , $ 1.5 billion and $ 1.3 billion for the years ended december 31 , 2014 , 2013 and 2012 , respectively .
2014 compared with 2013 total net revenue for 2014 was down by $ 2.4 billion , or 2% ( 2 % ) , compared with the prior year , predominantly due to lower mortgage fees and related income , and lower other income .
the decrease was partially offset by higher asset management , administration and commissions revenue .

investment banking fees increased compared with the prior year , due to higher advisory and equity underwriting fees , largely offset by lower debt underwriting fees .
the increase in advisory fees was driven by the combined impact of a greater share of fees for completed transactions , and growth in industry-wide fee levels .
the increase in equity underwriting fees was driven by higher industry-wide issuance .

the decrease in debt underwriting fees was primarily related to lower bond underwriting compared with a stronger prior year , and lower loan syndication fees on lower industry-wide fee levels .
investment banking fee share and industry-wide data are sourced from dealogic , an external vendor .
for additional information on investment banking fees , see cib segment results on pages 92 201396 , cb segment results on pages 97 201399 , and note 7 .

principal transactions revenue , which consists of revenue primarily from the firm 2019s client-driven market-making and private equity investing activities , increased compared with the prior year as the prior year included a $ 1.5 billion loss related to the implementation of the fva framework for otc derivatives and structured notes .
the increase was also due to higher private equity gains as a result of higher net gains on sales .

the increase was partially offset by lower fixed income markets revenue in cib , primarily driven by credit- related and rates products , as well as the impact of business simplification initiatives .
for additional information on principal transactions revenue , see cib and corporate segment results on pages 92 201396 and pages 103 2013104 , respectively , and note 7 .

lending- and deposit-related fees decreased compared with the prior year , reflecting the impact of business simplification initiatives and lower trade finance revenue in cib .
for additional information on lending- and deposit- related fees , see the segment results for ccb on pages 81 2013 91 , cib on pages 92 201396 and cb on pages 97 201399 .

asset management , administration and commissions revenue increased compared with the prior year , reflecting higher asset management fees driven by net client inflows and the effect of higher market levels in am and ccb .
the increase was offset partially by lower commissions and other fee revenue in ccb as a result of the exit of a non-core product in the second half of 2013 .

for additional information on these fees and commissions , see the segment discussions of ccb on pages 81 201391 , am on pages 100 2013102 , and note 7 .
securities gains decreased compared with the prior year , reflecting lower repositioning activity related to the firm 2019s investment securities portfolio .
for additional information , see the corporate segment discussion on pages 103 2013104 and note 12 .
mortgage fees and related income decreased compared with the prior year .

the decrease was predominantly due to lower net production revenue driven by lower volumes due to higher levels of mortgage interest rates , and tighter margins .
the decline in net production revenue was partially offset by a lower loss on the risk management of mortgage servicing rights ( 201cmsrs 201d ) .
for additional information , see the segment discussion of ccb on pages 85 201387 and note 17 .

card income remained relatively flat but included higher net interchange income on credit and debit cards due to growth in sales volume , offset by higher amortization of new account origination costs .
for additional information on credit card income , see ccb segment results on pages 81 201391.

management 2019s discussion analysis 68 jpmorgan chase & co. /2014 annual report consolidated results operations section provides comparative discussion of jpmorgan chase 2019s consolidated results operations reported basis for three-year period ended december 31 , 2014.
 factors relate to single business segment discussed detail within business segment.
 discussion of critical accounting estimates firm affect consolidated results operations see pages 161 2013165.
 revenue year ended december 31.

revenue year ended december 31.
 included funding valuation adjustments ( ( 201cfva 201d ) effective 2013 ) ) debit valuation adjustments ( 201cdva 201d ) on over-the-counter ( 201cotc 201d ) derivatives structured notes  measured at fair value.
 fva dva gains/ ( losses ) were $ 468 million and $ ( 1. 9 ) billion for years ended december 31 , 2014 and 2013 .
 dva losses were ( $ 930 ) million for year ended december 31 , 2012.

included operating lease income of $ 1. 7 billion , $ 1. 5 billion $ 1. 3 billion for years ended december 31 , 2014 , 2013 2012 .
 2014 compared with 2013 total net revenue for 2014 down by $ 2. 4 billion , or 2% ( 2 % ) compared prior year due to lower mortgage fees related income  lower other income.
 decrease offset by higher asset management , administration commissions revenue.

investment banking fees increased prior year due to higher advisory equity underwriting fees offset by lower debt underwriting fees.
 increase in advisory fees driven by impact greater share of fees for completed transactions  growth in industry-wide fee levels.
 increase in equity underwriting fees driven by higher industry-wide issuance.
 decrease in debt underwriting fees related to lower bond underwriting prior year lower loan syndication fees on lower industry-wide fee levels.

investment banking fee share industry-wide data sourced from dealogic , external vendor.
 for additional information on investment banking fees see cib segment results pages 92 201396 , cb segment results pages 97 201399 , note 7.

principal transactions revenue  revenue primarily from firm 2019s client-driven market-making private equity investing activities increased compared with prior year prior year included $ 1. 5 billion loss related to implementation fva framework for otc derivatives structured notes.
 increase due to higher private equity gains higher net gains on sales.

increase partially offset by lower fixed income markets revenue in cib  driven by credit- related rates products impact of business simplification initiatives.
 for additional information on principal transactions revenue see cib and corporate segment results on pages 92 201396 pages 103 2013104  note 7.
 lending- and deposit-related fees decreased compared prior year reflecting impact of business simplification initiatives lower trade finance revenue in cib.

for additional information on lending- deposit- related fees see segment results for ccb on pages 81 2013 91 , cib on pages 92 201396 cb on pages 97 201399.
 asset management , administration commissions revenue increased compared prior year reflecting higher asset management fees driven by net client inflows effect higher market levels in am and ccb.
 increase offset partially by lower commissions and other fee revenue in ccb of exit of non-core product in second half of 2013.

for additional information on fees commissions see segment discussions of ccb on pages 81 201391 , am on pages 100 2013102  note 7.
 securities gains decreased prior year reflecting lower repositioning activity related to firm 2019s investment securities portfolio.
 for additional information see corporate segment discussion on pages 103 2013104 note 12.
mortgage fees related income decreased compared prior year.

decrease predominantly due to lower net production revenue driven lower volumes higher mortgage interest rates tighter margins.
 decline net production revenue partially offset by lower loss on risk management of mortgage servicing rights ( 201cmsrs 201d ).
 additional information see segment discussion of ccb on pages 85 201387 note 17.

card income remained flat included higher net interchange income on credit debit cards due to growth in sales volume offset by higher amortization of new account origination costs.
 additional information on credit card income see ccb segment results pages 81 201391.

( in millions )                                 | 2014    | 2013    | 2012   
----------------------------------------------- | ------- | ------- | -------
investment banking fees                         | $ 6542  | $ 6354  | $ 5808 
principal transactions ( a )                    | 10531   | 10141   | 5536   
lending- and deposit-related fees               | 5801    | 5945    | 6196   
asset management administration and commissions | 15931   | 15106   | 13868

securities gains                                | 77      | 667     | 2110   
mortgage fees and related income                | 3563    | 5205    | 8687   
card income                                     | 6020    | 6022    | 5658   
other income ( b )                              | 2106    | 3847    | 4258   
noninterest revenue                             | 50571   | 53287   | 52121  
net interest income                             | 43634   | 43319   | 44910

total net revenue                               | $ 94205 | $ 96606 | $ 97031



pipeline_tag: sentence-similarity
library_name: sentence-transformers
metrics: cosine_accuracy@1, cosine_accuracy@3, cosine_accuracy@5, cosine_accuracy@10, cosine_precision@1, cosine_precision@3, cosine_precision@5, cosine_precision@10, cosine_recall@1, cosine_recall@3, cosine_recall@5, cosine_recall@10, cosine_ndcg@10, cosine_mrr@10, cosine_map@100, dot_accuracy@1, dot_accuracy@3, dot_accuracy@5, dot_accuracy@10, dot_precision@1, dot_precision@3, dot_precision@5, dot_precision@10, dot_recall@1, dot_recall@3, dot_recall@5, dot_recall@10, dot_ndcg@10, dot_mrr@10, dot_map@100
model-index: name: SentenceTransformer based on thomaskim1130/stella_en_400M_v5-FinanceRAG-v2
results: task: type: information-retrieval
name: Information Retrieval
dataset: name: Evaluate
type: Evaluate
metrics: type: cosine_accuracy@1
value: 0.47815533980582525
name: Cosine Accuracy@1
verified: no, type: cosine_accuracy@3
value: 0.7233009708737864
name: Cosine Accuracy@3
verified: no, type: cosine_accuracy@5
value: 0.7985436893203883
name: Cosine Accuracy@5
verified: no, type: cosine_accuracy@10
value: 0.8567961165048543
name: Cosine Accuracy@10
verified: no, type: cosine_precision@1
value: 0.47815533980582525
name: Cosine Precision@1
verified: no, type: cosine_precision@3
value: 0.2758899676375404
name: Cosine Precision@3
verified: no, type: cosine_precision@5
value: 0.19271844660194173
name: Cosine Precision@5
verified: no, type: cosine_precision@10
value: 0.10436893203883495
name: Cosine Precision@10
verified: no, type: cosine_recall@1
value: 0.41237864077669906
name: Cosine Recall@1
verified: no, type: cosine_recall@3
value: 0.6860032362459547
name: Cosine Recall@3
verified: no, type: cosine_recall@5
value: 0.7844255663430421
name: Cosine Recall@5
verified: no, type: cosine_recall@10
value: 0.8484223300970875
name: Cosine Recall@10
verified: no, type: cosine_ndcg@10
value: 0.6612924842089951
name: Cosine Ndcg@10
verified: no, type: cosine_mrr@10
value: 0.6110369471413164
name: Cosine Mrr@10
verified: no, type: cosine_map@100
value: 0.5990151574074167
name: Cosine Map@100
verified: no, type: dot_accuracy@1
value: 0.44902912621359226
name: Dot Accuracy@1
verified: no, type: dot_accuracy@3
value: 0.7038834951456311
name: Dot Accuracy@3
verified: no, type: dot_accuracy@5
value: 0.7864077669902912
name: Dot Accuracy@5
verified: no, type: dot_accuracy@10
value: 0.8567961165048543
name: Dot Accuracy@10
verified: no, type: dot_precision@1
value: 0.44902912621359226
name: Dot Precision@1
verified: no, type: dot_precision@3
value: 0.2669902912621359
name: Dot Precision@3
verified: no, type: dot_precision@5
value: 0.19029126213592232
name: Dot Precision@5
verified: no, type: dot_precision@10
value: 0.10436893203883495
name: Dot Precision@10
verified: no, type: dot_recall@1
value: 0.3868932038834952
name: Dot Recall@1
verified: no, type: dot_recall@3
value: 0.6644417475728155
name: Dot Recall@3
verified: no, type: dot_recall@5
value: 0.7713996763754045
name: Dot Recall@5
verified: no, type: dot_recall@10
value: 0.8484223300970875
name: Dot Recall@10
verified: no, type: dot_ndcg@10
value: 0.6465164147035897
name: Dot Ndcg@10
verified: no, type: dot_mrr@10
value: 0.5909394744952999
name: Dot Mrr@10
verified: no, type: dot_map@100
value: 0.579351353684912
name: Dot Map@100
verified: no
Likes: 1 | All-time downloads: 135
Created: 2024-11-29 17:45:38