instructions
stringlengths 9
489
⌀ | user
stringlengths 1
8.98k
⌀ | assistant
stringlengths 1
17k
⌀ |
|---|---|---|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | included in the corporate and consumer loan tables above are purchased distressed loans, which are loans that have evidenced significant credit deterioration subsequent to origination but prior to acquisition by citigroup. in accordance with sop 03-3, the difference between the total expected cash flows for these loans and the initial recorded investments is recognized in income over the life of the loans using a level yield. accordingly, these loans have been excluded from the impaired loan information presented above. in addition, per sop 03-3, subsequent decreases to the expected cash flows for a purchased distressed loan require a build of an allowance so the loan retains its level yield. however, increases in the expected cash flows are first recognized as a reduction of any previously established allowance and then recognized as income prospectively over the remaining life of the loan by increasing the loan 2019s level yield. where the expected cash flows cannot be reliably estimated, the purchased distressed loan is accounted for under the cost recovery method. the carrying amount of the company 2019s purchased distressed loan portfolio at december 31, 2010 was $392 million, net of an allowance of $77 million as of december 31, 2010. the changes in the accretable yield, related allowance and carrying amount net of accretable yield for 2010 are as follows: in millions of dollars accretable carrying amount of loan receivable allowance.
in millions of dollars | accretable yield | carrying amount of loan receivable | allowance
beginning balance | $27 | $920 | $95
purchases (1) | 1 | 130 | 2014
disposals/payments received | -11 (11) | -594 (594) | 2014
accretion | -44 (44) | 44 | 2014
builds (reductions) to the allowance | 128 | 2014 | -18 (18)
increase to expected cash flows | -2 (2) | 19 | 2014
fx/other | 17 | -50 (50) | 2014
balance at december 31 2010 (2) | $116 | $469 | $77
(1) the balance reported in the column 201ccarrying amount of loan receivable 201d consists of $130 million of purchased loans accounted for under the level-yield method and $0 under the cost-recovery method. these balances represent the fair value of these loans at their acquisition date. the related total expected cash flows for the level-yield loans were $131 million at their acquisition dates. (2) the balance reported in the column 201ccarrying amount of loan receivable 201d consists of $315 million of loans accounted for under the level-yield method and $154 million accounted for under the cost-recovery method..
what is the difference between the beginning balance carrying amount of loan receivables and allowance? 825.0
what was this difference at the end of 2010? | 392.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | page 15 of 100 shareholder return performance the line graph below compares the annual percentage change in ball corporation 2019s cumulative total shareholder return on its common stock with the cumulative total return of the dow jones containers & packaging index and the s&p composite 500 stock index for the five-year period ended december 31, 2010. it assumes $100 was invested on december 31, 2005, and that all dividends were reinvested. the dow jones containers & packaging index total return has been weighted by market capitalization. total return analysis.
- | 12/31/05 | 12/31/06 | 12/31/07 | 12/31/08 | 12/31/09 | 12/31/10
ball corporation | $100.00 | $110.86 | $115.36 | $107.58 | $134.96 | $178.93
dj containers & packaging index | $100.00 | $112.09 | $119.63 | $75.00 | $105.34 | $123.56
s&p 500 index | $100.00 | $115.80 | $122.16 | $76.96 | $97.33 | $111.99
copyright a9 2011 standard & poor 2019s a division of the mcgraw-hill companies inc. all rights reserved. (www.researchdatagroup.com/s&p.htm) | copyright a9 2011 standard & poor 2019s a division of the mcgraw-hill companies inc. all rights reserved. (www.researchdatagroup.com/s&p.htm) | copyright a9 2011 standard & poor 2019s a division of the mcgraw-hill companies inc. all rights reserved. (www.researchdatagroup.com/s&p.htm) | copyright a9 2011 standard & poor 2019s a division of the mcgraw-hill companies inc. all rights reserved. (www.researchdatagroup.com/s&p.htm) | copyright a9 2011 standard & poor 2019s a division of the mcgraw-hill companies inc. all rights reserved. (www.researchdatagroup.com/s&p.htm) | copyright a9 2011 standard & poor 2019s a division of the mcgraw-hill companies inc. all rights reserved. (www.researchdatagroup.com/s&p.htm) | copyright a9 2011 standard & poor 2019s a division of the mcgraw-hill companies inc. all rights reserved. (www.researchdatagroup.com/s&p.htm)
copyright a9 2011 dow jones & company. all rights reserved. | copyright a9 2011 dow jones & company. all rights reserved. | copyright a9 2011 dow jones & company. all rights reserved. | copyright a9 2011 dow jones & company. all rights reserved. | copyright a9 2011 dow jones & company. all rights reserved. | copyright a9 2011 dow jones & company. all rights reserved. | copyright a9 2011 dow jones & company. all rights reserved.
.
what was the change in price for ball corporation between 12/31/10 and 12/31/05? | 78.93 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | impairment the following table presents net unrealized losses on securities available for sale as of december 31:.
(in millions) | 2011 | 2010
fair value | $99832 | $81881
amortized cost | 100013 | 82329
net unrealized loss pre-tax | $-181 (181) | $-448 (448)
net unrealized loss after-tax | $-113 (113) | $-270 (270)
the net unrealized amounts presented above excluded the remaining net unrealized losses related to reclassifications of securities available for sale to securities held to maturity. these unrealized losses related to reclassifications totaled $303 million, or $189 million after-tax, and $523 million, or $317 million after-tax, as of december 31, 2011 and 2010, respectively, and were recorded in accumulated other comprehensive income, or oci. refer to note 12 to the consolidated financial statements included under item 8. the decline in these remaining after-tax unrealized losses related to reclassifications from december 31, 2010 to december 31, 2011 resulted primarily from amortization. we conduct periodic reviews of individual securities to assess whether other-than-temporary impairment exists. to the extent that other-than-temporary impairment is identified, the impairment is broken into a credit component and a non-credit component. the credit component is recorded in our consolidated statement of income, and the non-credit component is recorded in oci to the extent that we do not intend to sell the security. our assessment of other-than-temporary impairment involves an evaluation, more fully described in note 3, of economic and security-specific factors. such factors are based on estimates, derived by management, which contemplate current market conditions and security-specific performance. to the extent that market conditions are worse than management 2019s expectations, other-than-temporary impairment could increase, in particular, the credit component that would be recorded in our consolidated statement of income. given the exposure of our investment securities portfolio, particularly mortgage- and asset-backed securities, to residential mortgage and other consumer credit risks, the performance of the u.s. housing market is a significant driver of the portfolio 2019s credit performance. as such, our assessment of other-than-temporary impairment relies to a significant extent on our estimates of trends in national housing prices. generally, indices that measure trends in national housing prices are published in arrears. as of september 30, 2011, national housing prices, according to the case-shiller national home price index, had declined by approximately 31.3% (31.3%) peak-to-current. overall, management 2019s expectation, for purposes of its evaluation of other-than-temporary impairment as of december 31, 2011, was that housing prices would decline by approximately 35% (35%) peak-to-trough. the performance of certain mortgage products and vintages of securities continues to deteriorate. in addition, management continues to believe that housing prices will decline further as indicated above. the combination of these factors has led to an increase in management 2019s overall loss expectations. our investment portfolio continues to be sensitive to management 2019s estimates of future cumulative losses. ultimately, other-than- temporary impairment is based on specific cusip-level detailed analysis of the unique characteristics of each security. in addition, we perform sensitivity analysis across each significant product type within the non-agency u.s. residential mortgage-backed portfolio. we estimate, for example, that other-than-temporary impairment of the investment portfolio could increase by approximately $10 million to $50 million, if national housing prices were to decline by 37% (37%) to 39% (39%) peak-to-trough, compared to management 2019s expectation of 35% (35%) described above. this sensitivity estimate is based on a number of factors, including, but not limited to, the level of housing prices and the timing of defaults. to the extent that such factors differ substantially from management 2019s current expectations, resulting loss estimates may differ materially from those stated. excluding the securities for which other-than-temporary impairment was recorded in 2011, management considers the aggregate decline in fair value of the remaining.
what was the total of unrealized losses related to reclassifications in 2011, before tax? 303.0
and what was it after tax? 189.0
what was, then, the impact of the tax on that total? 114.0
and between that year and the previous, 2010, what was the change in the fair value of the full unrealized losses? | 17951.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | part ii item 5. market for registrant 2019s common equity, related stockholder matters and issuer purchases of equity securities the following table presents reported quarterly high and low per share sale prices of our common stock on the new york stock exchange (201cnyse 201d) for the years 2010 and 2009..
2010 | high | low
quarter ended march 31 | $44.61 | $40.10
quarter ended june 30 | 45.33 | 38.86
quarter ended september 30 | 52.11 | 43.70
quarter ended december 31 | 53.14 | 49.61
2009 | high | low
quarter ended march 31 | $32.53 | $25.45
quarter ended june 30 | 34.52 | 27.93
quarter ended september 30 | 37.71 | 29.89
quarter ended december 31 | 43.84 | 35.03
on february 11, 2011, the closing price of our common stock was $56.73 per share as reported on the nyse. as of february 11, 2011, we had 397612895 outstanding shares of common stock and 463 registered holders. dividends we have not historically paid a dividend on our common stock. payment of dividends in the future, when, as and if authorized by our board of directors, would depend upon many factors, including our earnings and financial condition, restrictions under applicable law and our current and future loan agreements, our debt service requirements, our capital expenditure requirements and other factors that our board of directors may deem relevant from time to time, including the potential determination to elect reit status. in addition, the loan agreement for our revolving credit facility and term loan contain covenants that generally restrict our ability to pay dividends unless certain financial covenants are satisfied. for more information about the restrictions under the loan agreement for the revolving credit facility and term loan, our notes indentures and the loan agreement related to our securitization, see item 7 of this annual report under the caption 201cmanagement 2019s discussion and analysis of financial condition and results of operations 2014liquidity and capital resources 2014factors affecting sources of liquidity 201d and note 6 to our consolidated financial statements included in this annual report..
what was the closing price of the common stock in february of 2011? 56.73
and what was its highest value during the last quarter of the year before, in 2010? | 53.14 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | increased investment in programming to support subscriber growth, higher offer costs and continued investment in presto, partially offset by lower depreciation expense resulting from foxtel 2019s reassessment of the useful lives of cable and satellite installations. net income decreased as a result of the lower operating income noted above, partially offset by lower income tax expense. (b) other equity affiliates, net for the fiscal year ended june 30, 2016 includes losses primarily from the company 2019s interests in draftstars and elara technologies, which owns proptiger. interest, net 2014interest, net for the fiscal year ended june 30, 2016 decreased $13 million, or 23% (23%), as compared to fiscal 2015, primarily due to the negative impact of foreign currency fluctuations and interest expense associated with the rea facility. (see note 9 to the consolidated financial statements). other, net 2014 for the fiscal years ended june 30.
(in millions) | for the fiscal years ended june 30, 2016 | for the fiscal years ended june 30, 2015
gain on iproperty transaction (a) | $29 | $2014
impairment of marketable securities and cost method investments (b) | -21 (21) | -5 (5)
gain on sale of marketable securities (c) | 2014 | 29
dividends received from cost method investments | 2014 | 25
gain on sale of cost method investments | 2014 | 15
other | 10 | 11
total other net | $18 | $75
(a) rea group recognized a gain of $29 million resulting from the revaluation of its previously held equity interest in iproperty during the fiscal year ended june 30, 2016. (see note 3 to the consolidated financial statements). (b) the company recorded write-offs and impairments of certain investments in the fiscal years ended june 30, 2016 and 2015. these write-offs and impairments were taken either as a result of the deteriorating financial position of the investee or due to an other-than-temporary impairment resulting from sustained losses and limited prospects for recovery. (see note 6 to the consolidated financial statements.) (c) in august 2014, rea group completed the sale of a minority interest held in marketable securities for total cash consideration of $104 million. as a result of the sale, rea group recognized a pre-tax gain of $29 million, which was reclassified out of accumulated other comprehensive income and included in other, net in the statement of operations. income tax benefit (expense) 2014the company 2019s income tax benefit and effective tax rate for the fiscal year ended june 30, 2016 were $54 million and (30% (30%)), respectively, as compared to an income tax expense and effective tax rate of $185 million and 34% (34%), respectively, for fiscal 2015. for the fiscal years ended june 30, 2016 the company recorded a tax benefit of $54 million on pre-tax income of $181 million resulting in an effective tax rate that was lower than the u.s. statutory tax. the lower tax rate was primarily due to a tax benefit of approximately $106 million related to the release of previously established valuation allowances related to certain u.s. federal net operating losses and state deferred tax assets. this benefit was recognized in conjunction with management 2019s plan to dispose of the company 2019s digital education business in the first quarter of fiscal 2016, as the company now expects to generate sufficient u.s. taxable income to utilize these deferred tax assets prior to expiration. in addition, the effective tax rate was also impacted by the $29 million non-taxable gain resulting from the revaluation of rea group 2019s previously held equity interest in iproperty. for the fiscal year ended june 30, 2015, the company 2019s effective tax rate was lower than the u.s. statutory tax rate primarily due to the impact from foreign operations which are subject to lower tax rates, partially offset by the impact of nondeductible items and changes in our accrued liabilities for uncertain tax positions. (see note 18 to the consolidated financial statements)..
what was the decrease amount on the net interest from fiscal year 2015 to 2016? 13.0
and what was the equivalent of that as a percentage of the 2015 net interest? 0.23
considering, then, that decrease amount and how much it represents in relation to this 2015 net interest, what was the full amount of this net interest? 56.52174
and what was the full amount of the 2016 net interest, considering the 2015 one and how much it decreased? | 69.52174 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | earnings for the first quarter of 2007 are expected to be lower than in the fourth quarter of 2006. containerboard export sales volumes are expected to decline due to scheduled first-quarter main- tenance outages. sales volumes for u.s. converted products will be higher due to more shipping days, but expected softer demand should cause the ship- ments per day to decrease. average sales price real- izations are expected to be comparable to fourth- quarter averages. an additional containerboard price increase was announced in january that is expected to be fully realized in the second quarter. costs for wood, energy, starch, adhesives and freight are expected to increase. manufacturing costs will be higher due to costs associated with scheduled main- tenance outages in the containerboard mills. euro- pean container operating results are expected to improve as seasonally higher sales volumes and improved margins more than offset slightly higher manufacturing costs. consumer packaging demand and pricing for consumer packaging prod- ucts correlate closely with consumer spending and general economic activity. in addition to prices and volumes, major factors affecting the profitability of consumer packaging are raw material and energy costs, manufacturing efficiency and product mix. consumer packaging net sales increased 9% (9%) compared with 2005 and 7% (7%) compared with 2004. operating profits rose 8% (8%) from 2005, but declined 15% (15%) from 2004 levels. compared with 2005, higher sales volumes ($9 million), improved average sales price realizations ($33 million), reduced lack-of-order downtime ($18 million), and favorable mill oper- ations ($25 million) were partially offset by higher raw material costs ($19 million) and freight costs ($21 million), unfavorable mix ($14 million) and other costs ($21 million). consumer packaging in millions 2006 2005 2004.
in millions | 2006 | 2005 | 2004
sales | $2455 | $2245 | $2295
operating profit | $131 | $121 | $155
coated paperboard net sales of $1.5 billion in 2006 were higher than $1.3 billion in 2005 and $1.1 billion in 2004. sales volumes increased in 2006 compared with 2005, particularly in the folding car- ton board segment, reflecting improved demand for coated paperboard products. in 2006, our coated paperboard mills took 4000 tons of lack-of-order downtime, compared with 82000 tons of lack-of-order downtime in 2005. average sales price realizations were substantially improved in the cur- rent year, principally for folding carton board and cupstock board. operating profits were 51% (51%) higher in 2006 than in 2005, and 7% (7%) better than in 2004. the impact of the higher sales prices along with more favorable manufacturing operations due to strong performance at the mills more than offset higher input costs for energy and freight. foodservice net sales declined to $396 million in 2006, compared with $437 million in 2005 and $480 million in 2004, due principally to the sale of the jackson, tennessee plant in july 2005. sales vol- umes were lower in 2006 than in 2005, although average sales prices were higher due to the realiza- tion of price increases implemented during 2005. operating profits for 2006 improved over 2005 and 2004 levels largely due to the benefits from higher sales prices. raw material costs for bleached board were higher than in 2005, but manufacturing costs were more favorable due to increased productivity and reduced waste. shorewood net sales of $670 million were down from $691 million in 2005 and $687 million in 2004. sales volumes in 2006 were down from 2005 levels due to weak demand in the home entertainment and consumer products markets, although demand was strong in the tobacco segment. average sales prices for the year were lower than in 2005. operating prof- its were down significantly from both 2005 and 2004 due to the decline in sales, particularly in the higher margin home entertainment markets, higher raw material costs for bleached board and certain inventory adjustment costs. entering 2007, coated paperboard first-quarter sales volumes are expected to be seasonally stronger than in the fourth quarter 2006 for folding carton board and bristols. average sales price realizations are expected to rise with a price increase announced in january. it is anticipated that manufacturing costs will improve versus an unfavorable fourth quarter. foodservice earnings for the first quarter of 2007 are expected to decline due to seasonally weaker vol- ume. however, sales price realizations will be slightly higher, and the seasonal switch to hot cup contain- ers will have a favorable impact on product mix. shorewood sales volumes for the first quarter of 2007 are expected to seasonally decline, but the earnings impact will be partially offset by pricing improvements and an improved product mix. distribution our distribution business, principally represented by our xpedx business, markets a diverse array of products and supply chain services to customers in.
in the year of 2006, what amount from the consumer packaging sales was due to foodservice net sales? 396.0
and what was the total of those consumer packaging sales? | 2455.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | 15. debt the tables below summarize our outstanding debt at 30 september 2016 and 2015: total debt.
30 september | 2016 | 2015
short-term borrowings | $935.8 | $1494.3
current portion of long-term debt | 371.3 | 435.6
long-term debt | 4918.1 | 3949.1
total debt | $6225.2 | $5879.0
short-term borrowings | - | -
30 september | 2016 | 2015
bank obligations | $133.1 | $234.3
commercial paper | 802.7 | 1260.0
total short-term borrowings | $935.8 | $1494.3
the weighted average interest rate of short-term borrowings outstanding at 30 september 2016 and 2015 was 1.1% (1.1%) and.8% (.8%), respectively. cash paid for interest, net of amounts capitalized, was $121.1 in 2016, $97.5 in 2015, and $132.4 in 2014..
what was the total of short-term borrowings in 2016? 935.8
and what was the current portion of long-term debt in that year? 371.3
what was, then, the combined total of both short-term borrowings and current portion of long-term debt in 2016? | 1307.1 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | abiomed, inc. and subsidiaries notes to consolidated financial statements 2014 (continued) (7) commitments and contingencies the company applies the disclosure provisions of fin no. 45, guarantor 2019s accounting and disclosure requirements for guarantees, including guarantees of indebtedness of others, and interpretation of fasb statements no. 5, 57 and 107 and rescission of fasb interpretation no. 34 (fin no. 45) to its agreements that contain guarantee or indemnification clauses. these disclosure provisions expand those required by sfas no. 5 accounting for contingencies, by requiring that guarantors disclose certain types of guarantees, even if the likelihood of requiring the guarantor 2019s performance is remote. the following is a description of arrangements in which the company is a guarantor. product warranties 2014the company routinely accrues for estimated future warranty costs on its product sales at the time of sale. the ab5000 and bvs products are subject to rigorous regulation and quality standards. operating results could be adversely effected if the actual cost of product failures exceeds the estimated warranty provision. patent indemnifications 2014in many sales transactions, the company indemnifies customers against possible claims of patent infringement caused by the company 2019s products. the indemnifications contained within sales contracts usually do not include limits on the claims. the company has never incurred any material costs to defend lawsuits or settle patent infringement claims related to sales transactions. under the provisions of fin no. 45, intellectual property indemnifications require disclosure only. as of march 31, 2006, the company had entered into leases for its facilities, including its primary operating facility in danvers, massachusetts, with terms through fiscal 2010. the danvers lease may be extended, at the company 2019s option, for two successive additional periods of five years each with monthly rent charges to be determined based on then current fair rental values. the company 2019s lease for its aachen location expires in august 2008 unless an option to extend for an additional four years is exercised by the company. in december 2005 we closed our office facility in the netherlands, recording a charge of approximately $58000 for the remaining lease term. total rent expense under these leases, included in the accompanying consolidated statements of operations approximated $821000, $824000 and $1262000 for the fiscal years ended march 31, 2004, 2005 and 2006, respectively. future minimum lease payments under all significant non-cancelable operating leases as of march 31, 2006 are approximately as follows (in thousands): fiscal year ending march 31, operating leases.
fiscal year ending march 31, | operating leases
2007 | 1703
2008 | 1371
2009 | 1035
2010 | 710
total future minimum lease payments | $4819
from time-to-time, the company is involved in legal and administrative proceedings and claims of various types. while any litigation contains an element of uncertainty, management, in consultation with the company 2019s general counsel, presently believes that the outcome of each such other proceedings or claims which are pending or known to be threatened, or all of them combined, is not expected to have a material adverse effect on the company 2019s financial position, cash flow and results. on may 15, 2006 richard a. nazarian, as selling stockholder representative, filed a demand for arbitration (subsequently amended) with the boston office of the american arbitration association.
what was the total of operating leases in 2007? 1703.0
and what was it in 2008? | 1371.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | stock performance graph this performance graph shall not be deemed 201cfiled 201d for purposes of section 18 of the securities exchange act of 1934, as amended (the 201cexchange act 201d) or otherwise subject to the liabilities under that section and shall not be deemed to be incorporated by reference into any filing of tractor supply company under the securities act of 1933, as amended, or the exchange act. the following graph compares the cumulative total stockholder return on our common stock from december 28, 2013 to december 29, 2018 (the company 2019s fiscal year-end), with the cumulative total returns of the s&p 500 index and the s&p retail index over the same period. the comparison assumes that $100 was invested on december 28, 2013, in our common stock and in each of the foregoing indices and in each case assumes reinvestment of dividends. the historical stock price performance shown on this graph is not indicative of future performance..
- | 12/28/2013 | 12/27/2014 | 12/26/2015 | 12/31/2016 | 12/30/2017 | 12/29/2018
tractor supply company | $100.00 | $104.11 | $115.45 | $103.33 | $103.67 | $117.18
s&p 500 | $100.00 | $115.76 | $116.64 | $129.55 | $157.84 | $149.63
s&p retail index | $100.00 | $111.18 | $140.22 | $148.53 | $193.68 | $217.01
.
what was the price of the tractor supply company stock in 2014? 104.11
and what was it in 2013? 100.0
what was, then, the change over the year? | 4.11 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | entergy new orleans, inc. management's financial discussion and analysis net revenue 2008 compared to 2007 net revenue consists of operating revenues net of: 1) fuel, fuel-related expenses, and gas purchased for resale, 2) purchased power expenses, and 3) other regulatory charges. following is an analysis of the change in net revenue comparing 2008 to 2007. amount (in millions).
- | amount (in millions)
2007 net revenue | $231.0
volume/weather | 15.5
net gas revenue | 6.6
rider revenue | 3.9
base revenue | -11.3 (11.3)
other | 7.0
2008 net revenue | $252.7
the volume/weather variance is due to an increase in electricity usage in the service territory in 2008 compared to the same period in 2007. entergy new orleans estimates that approximately 141000 electric customers and 93000 gas customers have returned since hurricane katrina and are taking service as of december 31, 2008, compared to approximately 132000 electric customers and 86000 gas customers as of december 31, 2007. billed retail electricity usage increased a total of 184 gwh compared to the same period in 2007, an increase of 4% (4%). the net gas revenue variance is primarily due to an increase in base rates in march and november 2007. refer to note 2 to the financial statements for a discussion of the base rate increase. the rider revenue variance is due primarily to higher total revenue and a storm reserve rider effective march 2007 as a result of the city council's approval of a settlement agreement in october 2006. the approved storm reserve has been set to collect $75 million over a ten-year period through the rider and the funds will be held in a restricted escrow account. the settlement agreement is discussed in note 2 to the financial statements. the base revenue variance is primarily due to a base rate recovery credit, effective january 2008. the base rate credit is discussed in note 2 to the financial statements. gross operating revenues and fuel and purchased power expenses gross operating revenues increased primarily due to: an increase of $58.9 million in gross wholesale revenue due to increased sales to affiliated customers and an increase in the average price of energy available for resale sales; an increase of $47.7 million in electric fuel cost recovery revenues due to higher fuel rates and increased electricity usage; and an increase of $22 million in gross gas revenues due to higher fuel recovery revenues and increases in gas base rates in march 2007 and november 2007. fuel and purchased power increased primarily due to increases in the average market prices of natural gas and purchased power in addition to an increase in demand..
what was the net change in revenue from 2007 to 2008? 21.7
what is the 2008 rider revenue divided by that net change? | 0.17972 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | the defined benefit pension plans 2019 trust and $130 million to our retiree medical plans which will reduce our cash funding requirements for 2007 and 2008. in 2007, we expect to make no contributions to the defined benefit pension plans and expect to contribute $175 million to the retiree medical and life insurance plans, after giving consideration to the 2006 prepayments. the following benefit payments, which reflect expected future service, as appropriate, are expected to be paid: (in millions) pension benefits benefits.
(in millions) | pensionbenefits | otherbenefits
2007 | $1440 | $260
2008 | 1490 | 260
2009 | 1540 | 270
2010 | 1600 | 270
2011 | 1660 | 270
years 2012 2013 2016 | 9530 | 1260
as noted previously, we also sponsor nonqualified defined benefit plans to provide benefits in excess of qualified plan limits. the aggregate liabilities for these plans at december 31, 2006 were $641 million. the expense associated with these plans totaled $59 million in 2006, $58 million in 2005 and $61 million in 2004. we also sponsor a small number of foreign benefit plans. the liabilities and expenses associated with these plans are not material to our results of operations, financial position or cash flows. note 13 2013 leases our total rental expense under operating leases was $310 million, $324 million and $318 million for 2006, 2005 and 2004, respectively. future minimum lease commitments at december 31, 2006 for all operating leases that have a remaining term of more than one year were $1.1 billion ($288 million in 2007, $254 million in 2008, $211 million in 2009, $153 million in 2010, $118 million in 2011 and $121 million in later years). certain major plant facilities and equipment are furnished by the u.s. government under short-term or cancelable arrangements. note 14 2013 legal proceedings, commitments and contingencies we are a party to or have property subject to litigation and other proceedings, including matters arising under provisions relating to the protection of the environment. we believe the probability is remote that the outcome of these matters will have a material adverse effect on the corporation as a whole. we cannot predict the outcome of legal proceedings with certainty. these matters include the following items, all of which have been previously reported: on march 27, 2006, we received a subpoena issued by a grand jury in the united states district court for the northern district of ohio. the subpoena requests documents related to our application for patents issued in the united states and the united kingdom relating to a missile detection and warning technology. we are cooperating with the government 2019s investigation. on february 6, 2004, we submitted a certified contract claim to the united states requesting contractual indemnity for remediation and litigation costs (past and future) related to our former facility in redlands, california. we submitted the claim consistent with a claim sponsorship agreement with the boeing company (boeing), executed in 2001, in boeing 2019s role as the prime contractor on the short range attack missile (sram) program. the contract for the sram program, which formed a significant portion of our work at the redlands facility, had special contractual indemnities from the u.s. air force, as authorized by public law 85-804. on august 31, 2004, the united states denied the claim. our appeal of that decision is pending with the armed services board of contract appeals. on august 28, 2003, the department of justice (the doj) filed complaints in partial intervention in two lawsuits filed under the qui tam provisions of the civil false claims act in the united states district court for the western district of kentucky, united states ex rel. natural resources defense council, et al v. lockheed martin corporation, et al, and united states ex rel. john d. tillson v. lockheed martin energy systems, inc., et al. the doj alleges that we committed violations of the resource conservation and recovery act at the paducah gaseous diffusion plant by not properly handling, storing.
what is the rental expense under operating leases in 2005? 324.0
what about in 2004? | 318.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | the future minimum lease commitments under these leases at december 31, 2010 are as follows (in thousands): years ending december 31:.
2011 | $62465
2012 | 54236
2013 | 47860
2014 | 37660
2015 | 28622
thereafter | 79800
future minimum lease payments | $310643
rental expense for operating leases was approximately $66.9 million, $57.2 million and $49.0 million during the years ended december 31, 2010, 2009 and 2008, respectively. in connection with the acquisitions of several businesses, we entered into agreements with several sellers of those businesses, some of whom became stockholders as a result of those acquisitions, for the lease of certain properties used in our operations. typical lease terms under these agreements include an initial term of five years, with three to five five-year renewal options and purchase options at various times throughout the lease periods. we also maintain the right of first refusal concerning the sale of the leased property. lease payments to an employee who became an officer of the company after the acquisition of his business were approximately $1.0 million, $0.9 million and $0.9 million during each of the years ended december 31, 2010, 2009 and 2008, respectively. we guarantee the residual values of the majority of our truck and equipment operating leases. the residual values decline over the lease terms to a defined percentage of original cost. in the event the lessor does not realize the residual value when a piece of equipment is sold, we would be responsible for a portion of the shortfall. similarly, if the lessor realizes more than the residual value when a piece of equipment is sold, we would be paid the amount realized over the residual value. had we terminated all of our operating leases subject to these guarantees at december 31, 2010, the guaranteed residual value would have totaled approximately $31.4 million. we have not recorded a liability for the guaranteed residual value of equipment under operating leases as the recovery on disposition of the equipment under the leases is expected to approximate the guaranteed residual value. litigation and related contingencies in december 2005 and may 2008, ford global technologies, llc filed complaints with the international trade commission against us and others alleging that certain aftermarket parts imported into the u.s. infringed on ford design patents. the parties settled these matters in april 2009 pursuant to a settlement arrangement that expires in september 2011. pursuant to the settlement, we (and our designees) became the sole distributor in the u.s. of aftermarket automotive parts that correspond to ford collision parts that are covered by a u.s. design patent. we have paid ford an upfront fee for these rights and will pay a royalty for each such part we sell. the amortization of the upfront fee and the royalty expenses are reflected in cost of goods sold on the accompanying consolidated statements of income. we also have certain other contingencies resulting from litigation, claims and other commitments and are subject to a variety of environmental and pollution control laws and regulations incident to the ordinary course of business. we currently expect that the resolution of such contingencies will not materially affect our financial position, results of operations or cash flows..
between the years of 2008 and 2009, what was the change in the rental expense? 8.2
and what is this change as a percentage of that expense in 2008? 0.16735
and over the subsequent year, from 2009 to 2010, what was that change? | 9.7 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | the fair value of the psu award at the date of grant is amortized to expense over the performance period, which is typically three years after the date of the award, or upon death, disability or reaching the age of 58. as of december 31, 2017, pmi had $34 million of total unrecognized compensation cost related to non-vested psu awards. this cost is recognized over a weighted-average performance cycle period of two years, or upon death, disability or reaching the age of 58. during the years ended december 31, 2017, and 2016, there were no psu awards that vested. pmi did not grant any psu awards during note 10. earnings per share: unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents are participating securities and therefore are included in pmi 2019s earnings per share calculation pursuant to the two-class method. basic and diluted earnings per share (201ceps 201d) were calculated using the following:.
(in millions) | for the years ended december 31, 2017 | for the years ended december 31, 2016 | for the years ended december 31, 2015
net earnings attributable to pmi | $6035 | $6967 | $6873
less distributed and undistributed earnings attributable to share-based payment awards | 14 | 19 | 24
net earnings for basic and diluted eps | $6021 | $6948 | $6849
weighted-average shares for basic eps | 1552 | 1551 | 1549
plus contingently issuable performance stock units (psus) | 1 | 2014 | 2014
weighted-average shares for diluted eps | 1553 | 1551 | 1549
for the 2017, 2016 and 2015 computations, there were no antidilutive stock options..
what was the net change in value of net earnings attributable to pmi from 2016 to 2017? -932.0
what was the 2016 value? | 6967.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | repurchase of equity securities the following table provides information regarding our purchases of equity securities during the fourth quarter of 2008: number of shares purchased average paid per share2 total number of shares purchased as part of publicly announced plans or programs maximum number of shares that may yet be purchased under the plans or programs.
- | total number of shares purchased | average price paid per share2 | total number of shares purchased as part of publicly announced plans or programs | maximum number ofshares that may yet be purchased under the plans or programs
october 1-31 | 29704 | $5.99 | 2014 | 2014
november 1-30 | 4468 | $3.24 | 2014 | 2014
december 1-31 | 12850 | $3.98 | 2014 | 2014
total1 | 47022 | $5.18 | 2014 | 2014
total1................................ 47022 $5.18 2014 2014 1 consists of restricted shares of our common stock withheld under the terms of grants under employee stock compensation plans to offset tax withholding obligations that occurred upon vesting and release of restricted shares during each month of the fourth quarter of 2008 (the 201cwithheld shares 201d). 2 the average price per month of the withheld shares was calculated by dividing the aggregate value of the tax withholding obligations for each month by the aggregate number of shares of our common stock withheld each month..
what was the total value of the shares purchased in october? | 177926.96 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | shareowner return performance graph the following performance graph and related information shall not be deemed 201csoliciting material 201d or to be 201cfiled 201d with the securities and exchange commission, nor shall such information be incorporated by reference into any future filing under the securities act of 1933 or securities exchange act of 1934, each as amended, except to the extent that the company specifically incorporates it by reference into such filing. the following graph shows a five-year comparison of cumulative total shareowners 2019 returns for our class b common stock, the s&p 500 index, and the dow jones transportation average. the comparison of the total cumulative return on investment, which is the change in the quarterly stock price plus reinvested dividends for each of the quarterly periods, assumes that $100 was invested on december 31, 2001 in the s&p 500 index, the dow jones transportation average, and the class b common stock of united parcel service, inc. comparison of five year cumulative total return $40.00 $60.00 $80.00 $100.00 $120.00 $140.00 $160.00 $180.00 $200.00 2001 2002 2003 2004 2005 2006 s&p 500 ups dj transport.
- | 12/31/01 | 12/31/02 | 12/31/03 | 12/31/04 | 12/31/05 | 12/31/06
united parcel service inc. | $100.00 | $117.19 | $140.49 | $163.54 | $146.35 | $148.92
s&p 500 index | $100.00 | $77.90 | $100.24 | $111.15 | $116.61 | $135.02
dow jones transportation average | $100.00 | $88.52 | $116.70 | $149.06 | $166.42 | $182.76
securities authorized for issuance under equity compensation plans the following table provides information as of december 31, 2006 regarding compensation plans under which our class a common stock is authorized for issuance. these plans do not authorize the issuance of our class b common stock..
what was the return for united parcel service inc. in 2006? | 148.92 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | the notional amount of these unfunded letters of credit was $1.4 billion as of december 31, 2008 and december 31, 2007. the amount funded was insignificant with no amounts 90 days or more past due or on a non-accrual status at december 31, 2008 and december 31, 2007. these items have been classified appropriately in trading account assets or trading account liabilities on the consolidated balance sheet. changes in fair value of these items are classified in principal transactions in the company 2019s consolidated statement of income. other items for which the fair-value option was selected in accordance with sfas 159 the company has elected the fair-value option for the following eligible items, which did not affect opening retained earnings: 2022 certain credit products; 2022 certain investments in private equity and real estate ventures and certain equity-method investments; 2022 certain structured liabilities; 2022 certain non-structured liabilities; and 2022 certain mortgage loans certain credit products citigroup has elected the fair-value option for certain originated and purchased loans, including certain unfunded loan products, such as guarantees and letters of credit, executed by citigroup 2019s trading businesses. none of these credit products is a highly leveraged financing commitment. significant groups of transactions include loans and unfunded loan products that are expected to be either sold or securitized in the near term, or transactions where the economic risks are hedged with derivative instruments such as purchased credit default swaps or total return swaps where the company pays the total return on the underlying loans to a third party. citigroup has elected the fair-value option to mitigate accounting mismatches in cases where hedge accounting is complex and to achieve operational simplifications. fair value was not elected for most lending transactions across the company, including where those management objectives would not be met. the following table provides information about certain credit products carried at fair value:.
in millions of dollars | 2008 trading assets | 2008 loans | 2008 trading assets | loans
carrying amount reported on the consolidated balance sheet | $16254 | $2315 | $26020 | $3038
aggregate unpaid principal balance in excess of fair value | $6501 | $3 | $899 | $-5 (5)
balance on non-accrual loans or loans more than 90 days past due | $77 | $1113 | $186 | $1292
aggregate unpaid principal balance in excess of fair value for non-accrual loans or loans more than 90 days pastdue | $190 | $-4 (4) | $68 | $2014
in millions of dollars trading assets loans trading assets loans carrying amount reported on the consolidated balance sheet $16254 $2315 $26020 $3038 aggregate unpaid principal balance in excess of fair value $6501 $3 $899 $(5) balance on non-accrual loans or loans more than 90 days past due $77 $1113 $186 $1292 aggregate unpaid principal balance in excess of fair value for non-accrual loans or loans more than 90 days past due $190 $(4) $68 $2014 in addition to the amounts reported above, $72 million and $141 million of unfunded loan commitments related to certain credit products selected for fair-value accounting were outstanding as of december 31, 2008 and december 31, 2007, respectively. changes in fair value of funded and unfunded credit products are classified in principal transactions in the company 2019s consolidated statement of income. related interest revenue is measured based on the contractual interest rates and reported as interest revenue on trading account assets or loans depending on their balance sheet classifications. the changes in fair value for the years ended december 31, 2008 and 2007 due to instrument-specific credit risk totaled to a loss of $38 million and $188 million, respectively. certain investments in private equity and real estate ventures and certain equity method investments citigroup invests in private equity and real estate ventures for the purpose of earning investment returns and for capital appreciation. the company has elected the fair-value option for certain of these ventures, because such investments are considered similar to many private equity or hedge fund activities in our investment companies, which are reported at fair value. the fair-value option brings consistency in the accounting and evaluation of certain of these investments. as required by sfas 159, all investments (debt and equity) in such private equity and real estate entities are accounted for at fair value. these investments are classified as investments on citigroup 2019s consolidated balance sheet. citigroup also holds various non-strategic investments in leveraged buyout funds and other hedge funds that previously were required to be accounted for under the equity method. the company elected fair-value accounting to reduce operational and accounting complexity. since the funds account for all of their underlying assets at fair value, the impact of applying the equity method to citigroup 2019s investment in these funds was equivalent to fair-value accounting. thus, this fair-value election had no impact on opening retained earnings. these investments are classified as other assets on citigroup 2019s consolidated balance sheet. changes in the fair values of these investments are classified in other revenue in the company 2019s consolidated statement of income. certain structured liabilities the company has elected the fair-value option for certain structured liabilities whose performance is linked to structured interest rates, inflation or currency risks (201cstructured liabilities 201d). the company elected the fair- value option, because these exposures are considered to be trading-related positions and, therefore, are managed on a fair-value basis. these positions will continue to be classified as debt, deposits or derivatives (trading account liabilities) on the company 2019s consolidated balance sheet according to their legal form. for those structured liabilities classified as long-term debt for which the fair-value option has been elected, the aggregate unpaid principal balance exceeds the aggregate fair value of such instruments by $277 million as of december 31, 2008 and $7 million as of december 31, 2007. the change in fair value for these structured liabilities is reported in principal transactions in the company 2019s consolidated statement of income. related interest expense is measured based on the contractual interest rates and reported as such in the consolidated income statement. certain non-structured liabilities the company has elected the fair-value option for certain non-structured liabilities with fixed and floating interest rates (201cnon-structured liabilities 201d)..
what was the carrying amount reported on the consolidated balance sheet trading assets in 2008? 16254.0
and what was it in 2007? 26020.0
what was, then, the change over the year? | -9766.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | 54| | duke realty corporation annual report 2009 net income (loss) per common share basic net income (loss) per common share is computed by dividing net income (loss) attributable to common shareholders, less dividends on share-based awards expected to vest, by the weighted average number of common shares outstanding for the period. diluted net income (loss) per common share is computed by dividing the sum of basic net income (loss) attributable to common shareholders and the noncontrolling interest in earnings allocable to units not owned by us (to the extent the units are dilutive), by the sum of the weighted average number of common shares outstanding and, to the extent they are dilutive, limited partnership units outstanding, as well as any potential dilutive securities for the period. during the first quarter of 2009, we adopted a new accounting standard (fasb asc 260-10) on participating securities, which we have applied retrospectively to prior period calculations of basic and diluted earnings per common share. pursuant to this new standard, certain of our share-based awards are considered participating securities because they earn dividend equivalents that are not forfeited even if the underlying award does not vest. the following table reconciles the components of basic and diluted net income (loss) per common share (in thousands):.
- | 2009 | 2008 | 2007
net income (loss) attributable to common shareholders | $-333601 (333601) | $50408 | $211942
less: dividends on share-based awards expected to vest | -1759 (1759) | -1631 (1631) | -1149 (1149)
basic net income (loss) attributable to common shareholders | -335360 (335360) | 48777 | 210793
noncontrolling interest in earnings of common unitholders (1) | - | 2640 | 13998
diluted net income (loss) attributable to common shareholders | $-335360 (335360) | $51417 | $224791
weighted average number of common shares outstanding | 201206 | 146915 | 139255
weighted average partnership units outstanding | - | 7619 | 9204
other potential dilutive shares (2) | - | 19 | 791
weighted average number of common shares and potential dilutive securities | 201206 | 154553 | 149250
weighted average number of common shares and potential diluted securities 201206 154553 149250 (1) the partnership units are anti-dilutive for the year ended december 31, 2009, as a result of the net loss for that period. therefore, 6687 units (in thousands) are excluded from the weighted average number of common shares and potential dilutive securities for the year ended december 31, 2009 and $11099 noncontrolling interest in earnings of common unitholders (in thousands) is excluded from diluted net loss attributable to common shareholders for the year ended december 31, 2009. (2) excludes (in thousands of shares) 7872; 8219 and 1144 of anti-dilutive shares for the years ended december 31, 2009, 2008 and 2007, respectively related to stock-based compensation plans. also excludes (in thousands of shares) the exchangeable notes that have 8089; 11771 and 11751 of anti-dilutive shares for the years ended december 31, 2009, 2008 and 2007, respectively. federal income taxes we have elected to be taxed as a real estate investment trust (201creit 201d) under the internal revenue code of 1986, as amended. to qualify as a reit, we must meet a number of organizational and operational requirements, including a requirement to distribute at least 90% (90%) of our adjusted taxable income to our stockholders. management intends to continue to adhere to these requirements and to maintain our reit status. as a reit, we are entitled to a tax deduction for some or all of the dividends we pay to shareholders. accordingly, we generally will not be subject to federal income taxes as long as we distribute an amount equal to or in excess of our taxable income currently to shareholders. we are also generally subject to federal income taxes on any taxable income that is not currently distributed to our shareholders. if we fail to qualify as a reit in any taxable year, we will be subject to federal income taxes and may not be able to qualify as a reit for four subsequent taxable years. reit qualification reduces, but does not eliminate, the amount of state and local taxes we pay. in addition, our financial statements include the operations of taxable corporate subsidiaries that are not entitled to a dividends paid deduction and are subject to corporate federal, state and local income taxes. as a reit, we may also be subject to certain federal excise taxes if we engage in certain types of transactions..
what was the net income (loss) attributable to common shareholders in 2008? 50408.0
and what was it in 2007? | 211942.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | note 17. accumulated other comprehensive losses: pmi's accumulated other comprehensive losses, net of taxes, consisted of the following:.
(losses) earnings (in millions) | (losses) earnings 2015 | (losses) earnings 2014 | 2013
currency translation adjustments | $-6129 (6129) | $-3929 (3929) | $-2207 (2207)
pension and other benefits | -3332 (3332) | -3020 (3020) | -2046 (2046)
derivatives accounted for as hedges | 59 | 123 | 63
total accumulated other comprehensive losses | $-9402 (9402) | $-6826 (6826) | $-4190 (4190)
reclassifications from other comprehensive earnings the movements in accumulated other comprehensive losses and the related tax impact, for each of the components above, that are due to current period activity and reclassifications to the income statement are shown on the consolidated statements of comprehensive earnings for the years ended december 31, 2015, 2014, and 2013. the movement in currency translation adjustments for the year ended december 31, 2013, was also impacted by the purchase of the remaining shares of the mexican tobacco business. in addition, $1 million, $5 million and $12 million of net currency translation adjustment gains were transferred from other comprehensive earnings to marketing, administration and research costs in the consolidated statements of earnings for the years ended december 31, 2015, 2014 and 2013, respectively, upon liquidation of subsidiaries. for additional information, see note 13. benefit plans and note 15. financial instruments for disclosures related to pmi's pension and other benefits and derivative financial instruments. note 18. colombian investment and cooperation agreement: on june 19, 2009, pmi announced that it had signed an agreement with the republic of colombia, together with the departments of colombia and the capital district of bogota, to promote investment and cooperation with respect to the colombian tobacco market and to fight counterfeit and contraband tobacco products. the investment and cooperation agreement provides $200 million in funding to the colombian governments over a 20-year period to address issues of mutual interest, such as combating the illegal cigarette trade, including the threat of counterfeit tobacco products, and increasing the quality and quantity of locally grown tobacco. as a result of the investment and cooperation agreement, pmi recorded a pre-tax charge of $135 million in the operating results of the latin america & canada segment during the second quarter of 2009. at december 31, 2015 and 2014, pmi had $73 million and $71 million, respectively, of discounted liabilities associated with the colombian investment and cooperation agreement. these discounted liabilities are primarily reflected in other long-term liabilities on the consolidated balance sheets and are expected to be paid through 2028. note 19. rbh legal settlement: on july 31, 2008, rothmans inc. ("rothmans") announced the finalization of a cad 550 million settlement (or approximately $540 million, based on the prevailing exchange rate at that time) between itself and rothmans, benson & hedges inc. ("rbh"), on the one hand, and the government of canada and all 10 provinces, on the other hand. the settlement resolved the royal canadian mounted police's investigation relating to products exported from canada by rbh during the 1989-1996 period. rothmans' sole holding was a 60% (60%) interest in rbh. the remaining 40% (40%) interest in rbh was owned by pmi..
what is the value of total accumulated other comprehensive losses in 2014? 9402.0
what is the value in 2015? | 6826.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | notes to consolidated financial statements 2014 (continued) (amounts in millions, except per share amounts) a summary of the remaining liability for the 2007, 2003 and 2001 restructuring programs is as follows: program program program total.
- | 2007 program | 2003 program | 2001 program | total
liability at december 31 2006 | $2014 | $12.6 | $19.2 | $31.8
net charges (reversals) and adjustments | 19.1 | -0.5 (0.5) | -5.2 (5.2) | 13.4
payments and other1 | -7.2 (7.2) | -3.1 (3.1) | -5.3 (5.3) | -15.6 (15.6)
liability at december 31 2007 | $11.9 | $9.0 | $8.7 | $29.6
net charges and adjustments | 4.3 | 0.8 | 0.7 | 5.8
payments and other1 | -15.0 (15.0) | -4.1 (4.1) | -3.5 (3.5) | -22.6 (22.6)
liability at december 31 2008 | $1.2 | $5.7 | $5.9 | $12.8
1 includes amounts representing adjustments to the liability for changes in foreign currency exchange rates. other reorganization-related charges other reorganization-related charges relate to our realignment of our media businesses into a newly created management entity called mediabrands and the 2006 merger of draft worldwide and foote, cone and belding worldwide to create draftfcb. charges related to severance and terminations costs and lease termination and other exit costs. we expect charges associated with mediabrands to be completed during the first half of 2009. charges related to the creation of draftfcb in 2006 are complete. the charges were separated from the rest of our operating expenses within the consolidated statements of operations because they did not result from charges that occurred in the normal course of business..
as of december 31, 2008, what was the total liability from the 2003 and the 2007 program, combined? | 6.9 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | the following table shows the impact of catastrophe losses and related reinstatement premiums and the impact of prior period development on our consolidated loss and loss expense ratio for the periods indicated..
- | 2010 | 2009 | 2008
loss and loss expense ratio as reported | 59.2% (59.2%) | 58.8% (58.8%) | 60.6% (60.6%)
catastrophe losses and related reinstatement premiums | (3.2)% (%) | (1.2)% (%) | (4.7)% (%)
prior period development | 4.6% (4.6%) | 4.9% (4.9%) | 6.8% (6.8%)
large assumed loss portfolio transfers | (0.3)% (%) | (0.8)% (%) | 0.0% (0.0%)
loss and loss expense ratio adjusted | 60.3% (60.3%) | 61.7% (61.7%) | 62.7% (62.7%)
we recorded net pre-tax catastrophe losses of $366 million in 2010 compared with net pre-tax catastrophe losses of $137 million and $567 million in 2009 and 2008, respectively. the catastrophe losses for 2010 were primarily related to weather- related events in the u.s., earthquakes in chile, mexico, and new zealand, and storms in australia and europe. the catastrophe losses for 2009 were primarily related to an earthquake in asia, floods in europe, several weather-related events in the u.s., and a european windstorm. for 2008, the catastrophe losses were primarily related to hurricanes gustav and ike. prior period development arises from changes to loss estimates recognized in the current year that relate to loss reserves first reported in previous calendar years and excludes the effect of losses from the development of earned premium from pre- vious accident years. we experienced $503 million of net favorable prior period development in our p&c segments in 2010. this compares with net favorable prior period development in our p&c segments of $576 million and $814 million in 2009 and 2008, respectively. refer to 201cprior period development 201d for more information. the adjusted loss and loss expense ratio declined in 2010, compared with 2009, primarily due to the impact of the crop settlements, non-recurring premium adjustment and the reduction in assumed loss portfolio business, which is written at higher loss ratios than other types of business. our policy acquisition costs include commissions, premium taxes, underwriting, and other costs that vary with, and are primarily related to, the production of premium. administrative expenses include all other operating costs. our policy acquis- ition cost ratio increased in 2010, compared with 2009. the increase was primarily related to the impact of crop settlements, which generated higher profit-share commissions and a lower adjustment to net premiums earned, as well as the impact of reinstatement premiums expensed in connection with catastrophe activity and changes in business mix. our administrative expense ratio increased in 2010, primarily due to the impact of the crop settlements, reinstatement premiums expensed, and increased costs in our international operations. although the crop settlements generate minimal administrative expenses, they resulted in lower adjustment to net premiums earned in 2010, compared with 2009. administrative expenses in 2010, were partially offset by higher net results generated by our third party claims administration business, esis, the results of which are included within our administrative expenses. esis generated $85 million in net results in 2010, compared with $26 million in 2009. the increase is primarily from non-recurring sources. our policy acquisition cost ratio was stable in 2009, compared with 2008, as increases in our combined insurance operations were offset by more favorable final crop year settlement of profit share commissions. administrative expenses increased in 2009, primarily due to the inclusion of administrative expenses related to combined insurance for the full year and costs associated with new product expansion in our domestic retail operation and in our personal lines business. our effective income tax rate, which we calculate as income tax expense divided by income before income tax, is depend- ent upon the mix of earnings from different jurisdictions with various tax rates. a change in the geographic mix of earnings would change the effective income tax rate. our effective income tax rate was 15 percent in 2010, compared with 17 percent and 24 percent in 2009 and 2008, respectively. the decrease in our effective income tax rate in 2010, was primarily due to a change in the mix of earnings to lower tax-paying jurisdictions, a decrease in the amount of unrecognized tax benefits which was the result of a settlement with the u.s. internal revenue service appeals division regarding federal tax returns for the years 2002-2004, and the recognition of a non-taxable gain related to the acquisition of rain and hail. the 2009 year included a reduction of a deferred tax valuation allowance related to investments. for 2008, our effective income tax rate was adversely impacted by a change in mix of earnings due to the impact of catastrophe losses in lower tax-paying jurisdictions. prior period development the favorable prior period development, inclusive of the life segment, of $512 million during 2010 was the net result of sev- eral underlying favorable and adverse movements. with respect to ace 2019s crop business, ace regularly receives reports from its managing general agent (mga) relating to the previous crop year (s) in subsequent calendar quarters and this typically results.
what were, in millions, the total catastrophe losses in the years of 2009 and 2010, combined? 503.0
and what were those catastrophe losses in 2008, also in millions? | 567.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | management 2019s discussion and analysis of financial condition and results of operations 2013 (continued) (amounts in millions, except per share amounts) liquidity and capital resources cash flow overview the following tables summarize key financial data relating to our liquidity, capital resources and uses of capital..
cash flow data | years ended december 31, 2015 | years ended december 31, 2014 | years ended december 31, 2013
net income adjusted to reconcile net income to net cashprovided by operating activities1 | $848.2 | $831.2 | $598.4
net cash used in working capital2 | -117.5 (117.5) | -131.1 (131.1) | -9.6 (9.6)
changes in other non-current assets and liabilities using cash | -56.7 (56.7) | -30.6 (30.6) | 4.1
net cash provided by operating activities | $674.0 | $669.5 | $592.9
net cash used in investing activities | -202.8 (202.8) | -200.8 (200.8) | -224.5 (224.5)
net cash used in financing activities | -472.8 (472.8) | -343.9 (343.9) | -1212.3 (1212.3)
1 reflects net income adjusted primarily for depreciation and amortization of fixed assets and intangible assets, amortization of restricted stock and other non-cash compensation, non-cash (gain) loss related to early extinguishment of debt, losses on sales of businesses and deferred income taxes. 2 reflects changes in accounts receivable, expenditures billable to clients, other current assets, accounts payable and accrued liabilities. operating activities net cash provided by operating activities during 2015 was $674.0, which was an improvement of $4.5 as compared to 2014, primarily as a result of an improvement in working capital usage of $13.6. due to the seasonality of our business, we typically generate cash from working capital in the second half of a year and use cash from working capital in the first half of a year, with the largest impacts in the first and fourth quarters. our net working capital usage in 2015 was primarily attributable to our media businesses. net cash provided by operating activities during 2014 was $669.5, which was an improvement of $76.6 as compared to 2013, primarily as a result of an increase in net income, offset by an increase in working capital usage of $121.5. our net working capital usage in 2014 was impacted by our media businesses. the timing of media buying on behalf of our clients affects our working capital and operating cash flow. in most of our businesses, our agencies enter into commitments to pay production and media costs on behalf of clients. to the extent possible, we pay production and media charges after we have received funds from our clients. the amounts involved substantially exceed our revenues and primarily affect the level of accounts receivable, expenditures billable to clients, accounts payable and accrued liabilities. our assets include both cash received and accounts receivable from clients for these pass-through arrangements, while our liabilities include amounts owed on behalf of clients to media and production suppliers. our accrued liabilities are also affected by the timing of certain other payments. for example, while annual cash incentive awards are accrued throughout the year, they are generally paid during the first quarter of the subsequent year. investing activities net cash used in investing activities during 2015 primarily related to payments for capital expenditures of $161.1, largely attributable to purchases of leasehold improvements and computer hardware. net cash used in investing activities during 2014 primarily related to payments for capital expenditures and acquisitions. capital expenditures of $148.7 related primarily to computer hardware and software and leasehold improvements. we made payments of $67.8 related to acquisitions completed during 2014, net of cash acquired..
what is the value of net income adjusted to reconcile net income to net cash provided by operating activities in 2015? 848.2
what is the 2014 value? 831.2
what is the net change? 17.0
what is the net change over the 2014 value? 0.02045
what is that times 100? | 2.04524 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | part ii. item 5. market for registrant 2019s common equity, related stockholder matters and issuer purchases of equity securities our common stock is traded on the nasdaq global select market under the symbol cdns. as of february 2, 2019, we had 523 registered stockholders and approximately 56000 beneficial owners of our common stock. stockholder return performance graph the following graph compares the cumulative 5-year total stockholder return on our common stock relative to the cumulative total return of the nasdaq composite index, the s&p 500 index and the s&p 500 information technology index. the graph assumes that the value of the investment in our common stock and in each index on december 28, 2013 (including reinvestment of dividends) was $100 and tracks it each year thereafter on the last day of our fiscal year through december 29, 2018 and, for each index, on the last day of the calendar year. comparison of 5 year cumulative total return* among cadence design systems, inc., the nasdaq composite index, the s&p 500 index and the s&p 500 information technology index 12/29/181/2/16 12/30/1712/28/13 12/31/161/3/15 *$100 invested on 12/28/13 in stock or index, including reinvestment of dividends. fiscal year ending december 29. copyright a9 2019 standard & poor 2019s, a division of s&p global. all rights reserved. nasdaq compositecadence design systems, inc. s&p 500 s&p 500 information technology.
- | 12/28/2013 | 1/3/2015 | 1/2/2016 | 12/31/2016 | 12/30/2017 | 12/29/2018
cadence design systems inc. | $100.00 | $135.18 | $149.39 | $181.05 | $300.22 | $311.13
nasdaq composite | 100.00 | 112.60 | 113.64 | 133.19 | 172.11 | 165.84
s&p 500 | 100.00 | 110.28 | 109.54 | 129.05 | 157.22 | 150.33
s&p 500 information technology | 100.00 | 115.49 | 121.08 | 144.85 | 201.10 | 200.52
the stock price performance included in this graph is not necessarily indicative of future stock price performance..
what was the net change in value of the nasdaq from 2017 to 2018? -6.27
what was the 2017 value? 172.11
what is the percent change? | -0.03643 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | the following table summarizes our future estimated cash payments under existing contractual obligations, including payments due by period:.
in millions | payments due by fiscal year total | payments due by fiscal year 2020 | payments due by fiscal year 2021 -22 | payments due by fiscal year 2023 -24 | payments due by fiscal year 2025 and thereafter
long-term debt (a) | $13093.0 | $1396.3 | $3338.4 | $2810.2 | $5548.1
accrued interest | 92.6 | 92.6 | - | - | -
operating leases (b) | 482.6 | 120.0 | 186.7 | 112.9 | 63.0
capital leases | 0.3 | 0.2 | 0.1 | - | -
purchase obligations (c) | 2961.8 | 2605.1 | 321.9 | 27.6 | 7.2
total contractual obligations | 16630.3 | 4214.2 | 3847.1 | 2950.7 | 5618.3
other long-term obligations (d) | 1302.4 | - | - | - | -
total long-term obligations | $17932.7 | $4214.2 | $3847.1 | $2950.7 | $5618.3
(a) amounts represent the expected cash payments of our long-term debt and do not include $0.3 million for capital leases or $72.0 million for net unamortized debt issuance costs, premiums and discounts, and fair value adjustments. (b) operating leases represents the minimum rental commitments under non-cancelable operating leases. (c) the majority of the purchase obligations represent commitments for raw material and packaging to be utilized in the normal course of business and for consumer marketing spending commitments that support our brands. for purposes of this table, arrangements are considered purchase obligations if a contract specifies all significant terms, including fixed or minimum quantities to be purchased, a pricing structure, and approximate timing of the transaction. most arrangements are cancelable without a significant penalty and with short notice (usually 30 days). any amounts reflected on the consolidated balance sheets as accounts payable and accrued liabilities are excluded from the table above. (d) the fair value of our foreign exchange, equity, commodity, and grain derivative contracts with a payable position to the counterparty was $17.3 million as of may 26, 2019, based on fair market values as of that date. future changes in market values will impact the amount of cash ultimately paid or received to settle those instruments in the future. other long-term obligations mainly consist of liabilities for accrued compensation and benefits, including the underfunded status of certain of our defined benefit pension, other postretirement benefit, and postemployment benefit plans, and miscellaneous liabilities. we expect to pay approximately $20 million of benefits from our unfunded postemployment benefit plans and approximately $18 million of deferred compensation in fiscal 2020. we are unable to reliably estimate the amount of these payments beyond fiscal 2020. as of may 26, 2019, our total liability for uncertain tax positions and accrued interest and penalties was $165.1 million. significant accounting estimates for a complete description of our significant accounting policies, please see note 2 to the consolidated financial statements in item 8 of this report. our significant accounting estimates are those that have a meaningful impact on the reporting of our financial condition and results of operations. these estimates include our accounting for promotional expenditures, valuation of long-lived assets, intangible assets, redeemable interest, stock-based compensation, income taxes, and defined benefit pension, other postretirement benefit, and postemployment benefit plans. revenue recognition our revenues are reported net of variable consideration and consideration payable to our customers, including trade promotion, consumer coupon redemption and other costs, including estimated allowances for returns, unsalable product, and prompt pay discounts. trade promotions are recorded using significant judgment of estimated participation and performance levels for offered programs at the time of sale. differences between estimated expenses and actual costs are recognized as a change in management estimate in a subsequent period. our accrued trade liabilities were $484 million as of may 26, 2019, and $500 million as of may 27, 2018. because these amounts are significant, if our estimates are inaccurate we would have to make adjustments in subsequent periods that could have a significant effect on our results of operations..
what portion of the total long-term debt obligations are due to the long-term debt? 0.73012
and what percentage of that long-term debt is due in 2020? | 0.10664 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | republic services, inc. notes to consolidated financial statements 2014 (continued) the following table summarizes the activity in our gross unrecognized tax benefits for the years ended december 31:.
- | 2015 | 2014 | 2013
balance at beginning of year | $70.1 | $72.0 | $84.7
additions based on tax positions related to current year | 0.2 | 0.8 | 0.3
additions for tax positions of prior years | 1.4 | 5.0 | 11.4
reductions for tax positions of prior years | -10.2 (10.2) | -6.0 (6.0) | -2.4 (2.4)
reductions for tax positions resulting from lapse of statute of limitations | -0.6 (0.6) | -0.2 (0.2) | -1.3 (1.3)
settlements | -13.9 (13.9) | -1.5 (1.5) | -20.7 (20.7)
balance at end of year | $47.0 | $70.1 | $72.0
during 2015, we settled tax matters in various states and puerto rico which reduced our gross unrecognized tax benefits by $13.9 million. during 2014, we settled tax matters in various jurisdictions and reduced our gross unrecognized tax benefits by $1.5 million. during 2013, we settled with the irs appeals division and the joint committee on taxation our 2009 and 2010 tax years. the resolution of these tax periods in addition to various state tax resolutions during the year reduced our gross unrecognized tax benefits by $20.7 million. included in our gross unrecognized tax benefits as of december 31, 2015 and 2014 are $30.5 million and $45.6 million of unrecognized tax benefits (net of the federal benefit on state matters) that, if recognized, would affect our effective income tax rate in future periods. we recognize interest and penalties as incurred within the provision for income taxes in our consolidated statements of income. related to the unrecognized tax benefits previously noted, we recorded interest expense of approximately $1.2 million during 2015 and, in total as of december 31, 2015, have recognized a liability for penalties of $0.5 million and interest of $10.3 million. during 2014, we accrued interest of approximately $1.5 million and, in total as of december 31, 2014, had recognized a liability for penalties of $0.5 million and interest of $18.7 million. during 2013, we accrued interest of approximately $1.2 million and, in total as of december 31, 2013, had recognized a liability for penalties of $0.5 million and interest of $17.0 million. gross unrecognized benefits that we expect to settle in the following twelve months are in the range of $0 to $10 million; however, it is reasonably possible that the amount of unrecognized tax benefits may either increase or decrease in the next twelve months. we are currently under examination or administrative review by state and local taxing authorities for various tax years. these state audits are ongoing. we believe the recorded liabilities for uncertain tax positions are adequate. however, a significant assessment against us in excess of the liabilities recorded could have a material adverse effect on our consolidated financial position, results of operations or cash flows..
what is the value of gross unrecognized tax benefits at the end of 2015? 47.0
what is the value at the end of 2014? 70.1
what is the 2015 value less the 2014? | -23.1 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | the selection and disclosure of our critical accounting estimates have been discussed with our audit committee. the following is a discussion of the more significant assumptions, estimates, accounting policies and methods used in the preparation of our consolidated financial statements: 2022 revenue recognition - we recognize revenue when persuasive evidence of an arrangement exists, delivery of product has occurred, the sales price is fixed or determinable and collectability is reasonably assured. for our company, this means that revenue is recognized when title and risk of loss is transferred to our customers. title transfers to our customers upon shipment or upon receipt at the customer's location as determined by the sales terms for each transaction. the company estimates the cost of sales returns based on historical experience, and these estimates are normally immaterial. 2022 goodwill and non-amortizable intangible assets valuation - we test goodwill and non-amortizable intangible assets for impairment annually or more frequently if events occur that would warrant such review. we perform our annual impairment analysis in the first quarter of each year. while the company has the option to perform a qualitative assessment for both goodwill and non-amortizable intangible assets to determine if it is more likely than not that an impairment exists, the company elects to perform the quantitative assessment for our annual impairment analysis. the impairment analysis involves comparing the fair value of each reporting unit or non-amortizable intangible asset to the carrying value. if the carrying value exceeds the fair value, goodwill or a non-amortizable intangible asset is considered impaired. to determine the fair value of goodwill, we primarily use a discounted cash flow model, supported by the market approach using earnings multiples of comparable global and local companies within the tobacco industry. at december 31, 2015, the carrying value of our goodwill was $7.4 billion, which is related to ten reporting units, each of which is comprised of a group of markets with similar economic characteristics. the estimated fair value of our ten reporting units exceeded the carrying value as of december 31, 2015. to determine the fair value of non-amortizable intangible assets, we primarily use a discounted cash flow model applying the relief-from-royalty method. we concluded that the fair value of our non-amortizable intangible assets exceeded the carrying value, and any reasonable movement in the assumptions would not result in an impairment. these discounted cash flow models include management assumptions relevant for forecasting operating cash flows, which are subject to changes in business conditions, such as volumes and prices, costs to produce, discount rates and estimated capital needs. management considers historical experience and all available information at the time the fair values are estimated, and we believe these assumptions are consistent with the assumptions a hypothetical marketplace participant would use. since the march 28, 2008, spin-off from altria, we have not recorded a charge to earnings for an impairment of goodwill or non-amortizable intangible assets. 2022 marketing and advertising costs - we incur certain costs to support our products through programs which include advertising, marketing, consumer engagement and trade promotions. the costs of our advertising and marketing programs are expensed in accordance with u.s. gaap. recognition of the cost related to our consumer engagement and trade promotion programs contain uncertainties due to the judgment required in estimating the potential performance and compliance for each program. for volume-based incentives provided to customers, management continually assesses and estimates, by customer, the likelihood of the customer achieving the specified targets and records the reduction of revenue as the sales are made. for other trade promotions, management relies on estimated utilization rates that have been developed from historical experience. changes in the assumptions used in estimating the cost of any individual marketing program would not result in a material change in our financial position, results of operations or operating cash flows. we have not made any material changes in the accounting methodology used to estimate our marketing programs during the past three years. 2022 employee benefit plans - as discussed in item 8, note 13. benefit plans to our consolidated financial statements, we provide a range of benefits to our employees and retired employees, including pensions, postretirement health care and postemployment benefits (primarily severance). we record annual amounts relating to these plans based on calculations specified by u.s. gaap. these calculations include various actuarial assumptions, such as discount rates, assumed rates of return on plan assets, compensation increases, mortality, turnover rates and health care cost trend rates. we review actuarial assumptions on an annual basis and make modifications to the assumptions based on current rates and trends when it is deemed appropriate to do so. as permitted by u.s. gaap, any effect of the modifications is generally amortized over future periods. we believe that the assumptions utilized in calculating our obligations under these plans are reasonable based upon our historical experience and advice from our actuaries. weighted-average discount rate assumptions for pensions and postretirement plans are as follows:.
- | 2015 | 2014
u.s. pension plans | 4.30% (4.30%) | 3.95% (3.95%)
non-u.s. pension plans | 1.68% (1.68%) | 1.92% (1.92%)
postretirement plans | 4.45% (4.45%) | 4.20% (4.20%)
we anticipate that assumption changes, coupled with decreased amortization of deferred losses, will decrease 2016 pre-tax u.s. and non- u.s. pension and postretirement expense to approximately $209 million as compared with approximately $240 million in 2015, excluding.
what is the net change in the non-us pension plans rate from 2014 to 2015? -0.24
what is the rate for 2014? | 1.92 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | item 7. management 2019s discussion and analysis of financial condition and results of operations we are a global integrated energy company with significant operations in the north america, africa and europe. our operations are organized into four reportable segments: 2022 exploration and production (201ce&p 201d) which explores for, produces and markets liquid hydrocarbons and natural gas on a worldwide basis. 2022 oil sands mining (201cosm 201d) which mines, extracts and transports bitumen from oil sands deposits in alberta, canada, and upgrades the bitumen to produce and market synthetic crude oil and vacuum gas 2022 integrated gas (201cig 201d) which markets and transports products manufactured from natural gas, such as liquefied natural gas (201clng 201d) and methanol, on a worldwide basis. 2022 refining, marketing & transportation (201crm&t 201d) which refines, markets and transports crude oil and petroleum products, primarily in the midwest, upper great plains, gulf coast and southeastern regions of the united states. certain sections of management 2019s discussion and analysis of financial condition and results of operations include forward-looking statements concerning trends or events potentially affecting our business. these statements typically contain words such as 201canticipates, 201d 201cbelieves, 201d 201cestimates, 201d 201cexpects, 201d 201ctargets, 201d 201cplans, 201d 201cprojects, 201d 201ccould, 201d 201cmay, 201d 201cshould, 201d 201cwould 201d or similar words indicating that future outcomes are uncertain. in accordance with 201csafe harbor 201d provisions of the private securities litigation reform act of 1995, these statements are accompanied by cautionary language identifying important factors, though not necessarily all such factors, which could cause future outcomes to differ materially from those set forth in the forward-looking statements. we hold a 60 percent interest in equatorial guinea lng holdings limited (201cegholdings 201d). as discussed in note 4 to the consolidated financial statements, effective may 1, 2007, we ceased consolidating egholdings. our investment is accounted for using the equity method of accounting. unless specifically noted, amounts presented for the integrated gas segment for periods prior to may 1, 2007, include amounts related to the minority interests. management 2019s discussion and analysis of financial condition and results of operations should be read in conjunction with the information under item 1. business, item 1a. risk factors, item 6. selected financial data and item 8. financial statements and supplementary data. overview exploration and production prevailing prices for the various grades of crude oil and natural gas that we produce significantly impact our revenues and cash flows. prices were volatile in 2009, but not as much as in the previous year. prices in 2009 were also lower than in recent years as illustrated by the annual averages for key benchmark prices below..
benchmark | 2009 | 2008 | 2007
wti crude oil (dollars per barrel) | $62.09 | $99.75 | $72.41
dated brent crude oil (dollars per barrel) | $61.67 | $97.26 | $72.39
henry hub natural gas (dollars per mcf) (a) | $3.99 | $9.04 | $6.86
henry hub natural gas (dollars per mcf) (a) $3.99 $9.04 $6.86 (a) first-of-month price index. crude oil prices rose sharply through the first half of 2008 as a result of strong global demand, a declining dollar, ongoing concerns about supplies of crude oil, and geopolitical risk. later in 2008, crude oil prices sharply declined as the u.s. dollar rebounded and global demand decreased as a result of economic recession. the price decrease continued into 2009, but reversed after dropping below $33.98 in february, ending the year at $79.36. our domestic crude oil production is about 62 percent sour, which means that it contains more sulfur than light sweet wti does. sour crude oil also tends to be heavier than light sweet crude oil and sells at a discount to light sweet crude oil because of higher refining costs and lower refined product values. our international crude oil production is relatively sweet and is generally sold in relation to the dated brent crude benchmark. the differential between wti and dated brent average prices narrowed to $0.42 in 2009 compared to $2.49 in 2008 and $0.02 in 2007..
what was the change in the average wti crude oil benchmark from 2007 to 2009? | -10.32 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | 53management's discussion and analysis of financial condition and results of operations in order to borrow funds under the 5-year credit facility, the company must be in compliance with various conditions, covenants and representations contained in the agreements. the company was in compliance with the terms of the 5-year credit facility at december 31, 2006. the company has never borrowed under its domestic revolving credit facilities. utilization of the non-u.s. credit facilities may also be dependent on the company's ability to meet certain conditions at the time a borrowing is requested. contractual obligations, guarantees, and other purchase commitments contractual obligations summarized in the table below are the company's obligations and commitments to make future payments under debt obligations (assuming earliest possible exercise of put rights by holders), lease payment obligations, and purchase obligations as of december 31, 2006. payments due by period (1) (in millions) total 2007 2008 2009 2010 2011 thereafter.
(in millions) | payments due by period (1) total | payments due by period (1) 2007 | payments due by period (1) 2008 | payments due by period (1) 2009 | payments due by period (1) 2010 | payments due by period (1) 2011 | payments due by period (1) thereafter
long-term debt obligations | $4134 | $1340 | $198 | $4 | $534 | $607 | $1451
lease obligations | 2328 | 351 | 281 | 209 | 178 | 158 | 1151
purchase obligations | 1035 | 326 | 120 | 26 | 12 | 12 | 539
total contractual obligations | $7497 | $2017 | $599 | $239 | $724 | $777 | $3141
(1) amounts included represent firm, non-cancelable commitments. debt obligations: at december 31, 2006, the company's long-term debt obligations, including current maturities and unamortized discount and issue costs, totaled $4.1 billion, as compared to $4.0 billion at december 31, 2005. a table of all outstanding long-term debt securities can be found in note 4, ""debt and credit facilities'' to the company's consolidated financial statements. lease obligations: the company owns most of its major facilities, but does lease certain office, factory and warehouse space, land, and information technology and other equipment under principally non-cancelable operating leases. at december 31, 2006, future minimum lease obligations, net of minimum sublease rentals, totaled $2.3 billion. rental expense, net of sublease income, was $241 million in 2006, $250 million in 2005 and $205 million in 2004. purchase obligations: the company has entered into agreements for the purchase of inventory, license of software, promotional agreements, and research and development agreements which are firm commitments and are not cancelable. the longest of these agreements extends through 2015. total payments expected to be made under these agreements total $1.0 billion. commitments under other long-term agreements: the company has entered into certain long-term agreements to purchase software, components, supplies and materials from suppliers. most of the agreements extend for periods of one to three years (three to five years for software). however, generally these agreements do not obligate the company to make any purchases, and many permit the company to terminate the agreement with advance notice (usually ranging from 60 to 180 days). if the company were to terminate these agreements, it generally would be liable for certain termination charges, typically based on work performed and supplier on-hand inventory and raw materials attributable to canceled orders. the company's liability would only arise in the event it terminates the agreements for reasons other than ""cause.'' the company also enters into a number of arrangements for the sourcing of supplies and materials with minimum purchase commitments and take-or-pay obligations. the majority of the minimum purchase obligations under these contracts are over the life of the contract as opposed to a year-by-year take-or-pay. if these agreements were terminated at december 31, 2006, the company's obligation would not have been significant. the company does not anticipate the cancellation of any of these agreements in the future. subsequent to the end of 2006, the company entered into take-or-pay arrangements with suppliers through may 2009 with minimum purchase obligations of $2.2 billion during that period. the company estimates purchases during that period that exceed the minimum obligations. the company outsources certain corporate functions, such as benefit administration and information technology-related services. these contracts are expected to expire in 2013. the total remaining payments under these contracts are approximately $1.3 billion over the remaining seven years; however, these contracts can be%%transmsg*** transmitting job: c11830 pcn: 055000000 ***%%pcmsg| |00030|yes|no|02/28/2007 13:05|0|1|page is valid, no graphics -- color: n|.
what is the net change in long-term debt payments from 2007 to 2011? 733.0
what is the long-term debt payment in 2007? | 1340.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | edwards lifesciences corporation notes to consolidated financial statements (continued) 13. common stock (continued) the company also maintains the nonemployee directors stock incentive compensation program (the 2018 2018nonemployee directors program 2019 2019). under the nonemployee directors program, upon a director 2019s initial election to the board, the director receives an initial grant of stock options or restricted stock units equal to a fair market value on grant date of $0.2 million, not to exceed 20000 shares. these grants vest over three years from the date of grant, subject to the director 2019s continued service. in addition, annually each nonemployee director may receive up to 40000 stock options or 16000 restricted stock units of the company 2019s common stock, or a combination thereof, provided that in no event may the total value of the combined annual award exceed $0.2 million. these grants generally vest over one year from the date of grant. under the nonemployee directors program, an aggregate of 2.8 million shares of the company 2019s common stock has been authorized for issuance. the company has an employee stock purchase plan for united states employees and a plan for international employees (collectively 2018 2018espp 2019 2019). under the espp, eligible employees may purchase shares of the company 2019s common stock at 85% (85%) of the lower of the fair market value of edwards lifesciences common stock on the effective date of subscription or the date of purchase. under the espp, employees can authorize the company to withhold up to 12% (12%) of their compensation for common stock purchases, subject to certain limitations. the espp is available to all active employees of the company paid from the united states payroll and to eligible employees of the company outside the united states, to the extent permitted by local law. the espp for united states employees is qualified under section 423 of the internal revenue code. the number of shares of common stock authorized for issuance under the espp was 13.8 million shares. the fair value of each option award and employee stock purchase subscription is estimated on the date of grant using the black-scholes option valuation model that uses the assumptions noted in the following tables. the risk-free interest rate is estimated using the u.s. treasury yield curve and is based on the expected term of the award. expected volatility is estimated based on a blend of the weighted-average of the historical volatility of edwards lifesciences 2019 stock and the implied volatility from traded options on edwards lifesciences 2019 stock. the expected term of awards granted is estimated from the vesting period of the award, as well as historical exercise behavior, and represents the period of time that awards granted are expected to be outstanding. the company uses historical data to estimate forfeitures and has estimated an annual forfeiture rate of 6.0% (6.0%). the black-scholes option pricing model was used with the following weighted-average assumptions for options granted during the following periods: option awards.
- | 2016 | 2015 | 2014
average risk-free interest rate | 1.1% (1.1%) | 1.4% (1.4%) | 1.5% (1.5%)
expected dividend yield | none | none | none
expected volatility | 33% (33%) | 30% (30%) | 31% (31%)
expected life (years) | 4.5 | 4.6 | 4.6
fair value per share | $31.00 | $18.13 | $11.75
.
what was the change in the fair value per share from 2014 to 2016? | 19.25 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | part ii item 5 2014market for registrant 2019s common equity and related stockholder matters market information. the common stock of the company is currently traded on the new york stock exchange (nyse) under the symbol 2018 2018aes. 2019 2019 the following tables set forth the high and low sale prices for the common stock as reported by the nyse for the periods indicated. price range of common stock.
2002 first quarter | high $17.84 | low $4.11 | 2001 first quarter | high $60.15 | low $41.30
second quarter | 9.17 | 3.55 | second quarter | 52.25 | 39.95
third quarter | 4.61 | 1.56 | third quarter | 44.50 | 12.00
fourth quarter | 3.57 | 0.95 | fourth quarter | 17.80 | 11.60
holders. as of march 3, 2003, there were 9663 record holders of the company 2019s common stock, par value $0.01 per share. dividends. under the terms of the company 2019s senior secured credit facilities entered into with a commercial bank syndicate, the company is not allowed to pay cash dividends. in addition, the company is precluded from paying cash dividends on its common stock under the terms of a guaranty to the utility customer in connection with the aes thames project in the event certain net worth and liquidity tests of the company are not met. the ability of the company 2019s project subsidiaries to declare and pay cash dividends to the company is subject to certain limitations in the project loans, governmental provisions and other agreements entered into by such project subsidiaries. securities authorized for issuance under equity compensation plans. see the information contained under the caption 2018 2018securities authorized for issuance under equity compensation plans 2019 2019 of the proxy statement for the annual meeting of stockholders of the registrant to be held on may 1, 2003, which information is incorporated herein by reference..
what is the sum of the high and low stock price for the second quarter 2002? | 12.72 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | international networks international networks generated revenues of $1637 million during 2012, which represented 37% (37%) of our total consolidated revenues. our international networks segment principally consists of national and pan-regional television networks. this segment generates revenue from operations in virtually every pay-television market in the world through an infrastructure that includes operational centers in london, singapore and miami. discovery channel, animal planet and tlc lead the international networks 2019 portfolio of television networks. international networks has one of the largest international distribution platforms of networks with as many as fourteen networks in more than 200 countries and territories around the world. at december 31, 2012, international networks operated over 180 unique distribution feeds in over 40 languages with channel feeds customized according to language needs and advertising sales opportunities. international networks also has free-to-air networks in the u.k., germany, italy and spain and continues to pursue international expansion. our international networks segment owns and operates the following television networks which reached the following number of subscribers as of december 31, 2012: global networks international subscribers (millions) regional networks international subscribers (millions).
global networks discovery channel | internationalsubscribers (millions) 246 | regional networks dmax | internationalsubscribers (millions) 90
animal planet | 183 | discovery kids | 61
tlc real time and travel & living | 174 | quest | 26
discovery science | 75 | discovery history | 13
investigation discovery | 63 | shed | 12
discovery home & health | 57 | discovery en espanol (u.s.) | 5
turbo | 42 | discovery familia (u.s) | 4
discovery world | 27 | - | -
on december 21, 2012, our international networks segment acquired 20% (20%) equity ownership interests in eurosport, a european sports satellite and cable network, and a portfolio of pay television networks from tf1, a french media company, for $264 million, including transaction costs. we have a call right that enables us to purchase a controlling interest in eurosport starting december 2014 and for one year thereafter. if we exercise our call right, tf1 will have the right to put its remaining interest to us for one year thereafter. the arrangement is intended to increase the growth of eurosport, which focuses on niche but regionally popular sports such as tennis, skiing, cycling and skating, and enhance our pay television offerings in france. on december 28, 2012, we acquired switchover media, a group of five italian television channels with children's and entertainment programming. (see note 3 to the accompanying consolidated financial statements.) education education generated revenues of $105 million during 2012, which represented 2% (2%) of our total consolidated revenues. education is comprised of curriculum-based product and service offerings. this segment generates revenues primarily from subscriptions charged to k-12 schools for access to an online suite of curriculum-based vod tools, professional development services, digital textbooks and, to a lesser extent, student assessments and publication of hardcopy curriculum-based content. our education business also participates in global brand and content licensing and engages in partnerships with leading non-profits, corporations, foundations and trade associations. content development our content development strategy is designed to increase viewership, maintain innovation and quality leadership, and provide value for our network distributors and advertising customers. our content is sourced from a wide range of third-party producers, which include some of the world 2019s leading nonfiction production companies as well as independent producers. our production arrangements fall into three categories: produced, coproduced and licensed. substantially all produced content includes content that we engage third parties to develop and produce, while we retain editorial control and own most or all of the rights, in exchange for paying all development and production costs. coproduced content refers to program rights that we have collaborated with third parties to finance and develop because at times world-wide rights are not available for acquisition or we save costs by collaborating with third parties. licensed content is comprised of films or series that have been previously produced by third parties..
what was the percentage of equity ownership interests acquired in eurosport? 20.0
and how much is that percentage as a portion of one? 0.2
considering the value equivalent to that percentage, what would be the full value of the european sports satellite and cable network? | 1320.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | company has a contingent liability relating to proper disposition of these balances, which amounted to $1926.8 mil- lion at december 31, 2007. as a result of holding these customers 2019 assets in escrow, the company has ongoing programs for realizing economic benefits during the year through favorable borrowing and vendor arrangements with various banks. there were no loans outstanding as of december 31, 2007 and these balances were invested in short term, high grade investments that minimize the risk to principal. leases the company leases certain of its property under leases which expire at various dates. several of these agreements include escalation clauses and provide for purchases and renewal options for periods ranging from one to five years. future minimum operating lease payments for leases with remaining terms greater than one year for each of the years in the five years ending december 31, 2012, and thereafter in the aggregate, are as follows (in thousands):.
2008 | 83382
2009 | 63060
2010 | 35269
2011 | 21598
2012 | 14860
thereafter | 30869
total | $249038
in addition, the company has operating lease commitments relating to office equipment and computer hardware with annual lease payments of approximately $16.0 million per year which renew on a short-term basis. rent expense incurred under all operating leases during the years ended december 31, 2007, 2006 and 2005 was $106.4 million, $81.5 million and $61.1 million, respectively. data processing and maintenance services agreements. the company has agreements with various vendors, which expire between 2008 and 2017, for portions of its computer data processing operations and related functions. the company 2019s estimated aggregate contractual obligation remaining under these agreements was approximately $888.3 million as of december 31, 2007. however, this amount could be more or less depending on various factors such as the inflation rate, the introduction of significant new technologies, or changes in the company 2019s data processing needs. (17) employee benefit plans stock purchase plan prior to the certegy merger (note 6), fis employees participated in the fidelity national financial, inc. employee stock purchase plan (espp). subsequent to the certegy merger, the company instituted its own plan with the same terms as the fidelity national financial, inc. plan. under the terms of both plans and subsequent amendments, eligible employees may voluntarily purchase, at current market prices, shares of fnf 2019s (prior to the certegy merger) or fis 2019s (post certegy merger) common stock through payroll deductions. pursuant to the espp, employees may contribute an amount between 3% (3%) and 15% (15%) of their base salary and certain commissions. shares purchased are allocated to employees based upon their contributions. the company contributes varying matching amounts as specified in the espp. the company recorded an expense of $15.2 million, $13.1 million and $11.1 million, respectively, for the years ended december 31, 2007, 2006 and 2005 relating to the participation of fis employees in the espp. fidelity national information services, inc. and subsidiaries and affiliates notes to consolidated and combined financial statements 2014 (continued).
what was the rent expense in 2007? 106.4
and what was it in 2006? | 81.5 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | 2011 compared to 2010 mst 2019s net sales for 2011 decreased $311 million, or 4% (4%), compared to 2010. the decrease was attributable to decreased volume of approximately $390 million for certain ship and aviation system programs (primarily maritime patrol aircraft and ptds) and approximately $75 million for training and logistics solutions programs. partially offsetting these decreases was higher sales of about $165 million from production on the lcs program. mst 2019s operating profit for 2011 decreased $68 million, or 10% (10%), compared to 2010. the decrease was attributable to decreased operating profit of approximately $55 million as a result of increased reserves for contract cost matters on various ship and aviation system programs (including the terminated presidential helicopter program) and approximately $40 million due to lower volume and increased reserves on training and logistics solutions. partially offsetting these decreases was higher operating profit of approximately $30 million in 2011 primarily due to the recognition of reserves on certain undersea systems programs in 2010. adjustments not related to volume, including net profit rate adjustments described above, were approximately $55 million lower in 2011 compared to 2010. backlog backlog increased in 2012 compared to 2011 mainly due to increased orders on ship and aviation system programs (primarily mh-60 and lcs), partially offset decreased orders and higher sales volume on integrated warfare systems and sensors programs (primarily aegis). backlog decreased slightly in 2011 compared to 2010 primarily due to higher sales volume on various integrated warfare systems and sensors programs. trends we expect mst 2019s net sales to decline in 2013 in the low single digit percentage range as compared to 2012 due to the completion of ptds deliveries in 2012 and expected lower volume on training services programs. operating profit and margin are expected to increase slightly from 2012 levels primarily due to anticipated improved contract performance. space systems our space systems business segment is engaged in the research and development, design, engineering, and production of satellites, strategic and defensive missile systems, and space transportation systems. space systems is also responsible for various classified systems and services in support of vital national security systems. space systems 2019 major programs include the space-based infrared system (sbirs), advanced extremely high frequency (aehf) system, mobile user objective system (muos), global positioning satellite (gps) iii system, geostationary operational environmental satellite r-series (goes-r), trident ii d5 fleet ballistic missile, and orion. operating results for our space systems business segment include our equity interests in united launch alliance (ula), which provides expendable launch services for the u.s. government, united space alliance (usa), which provided processing activities for the space shuttle program and is winding down following the completion of the last space shuttle mission in 2011, and a joint venture that manages the u.k. 2019s atomic weapons establishment program. space systems 2019 operating results included the following (in millions):.
- | 2012 | 2011 | 2010
net sales | $8347 | $8161 | $8268
operating profit | 1083 | 1063 | 1030
operating margins | 13.0% (13.0%) | 13.0% (13.0%) | 12.5% (12.5%)
backlog at year-end | 18100 | 16000 | 17800
2012 compared to 2011 space systems 2019 net sales for 2012 increased $186 million, or 2% (2%), compared to 2011. the increase was attributable to higher net sales of approximately $150 million due to increased commercial satellite deliveries (two commercial satellites delivered in 2012 compared to one during 2011); about $125 million from the orion program due to higher volume and an increase in risk retirements; and approximately $70 million from increased volume on various strategic and defensive missile programs. partially offsetting the increases were lower net sales of approximately $105 million from certain government satellite programs (primarily sbirs and muos) as a result of decreased volume and a decline in risk retirements; and about $55 million from the nasa external tank program, which ended in connection with the completion of the space shuttle program in 2011..
what was the increase in the operating profit for space systems from 2011 to 2012? 20.0
and what was that operating profit in 2011? | 1063.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | page 31 of 94 other liquidity items cash payments required for long-term debt maturities, rental payments under noncancellable operating leases, purchase obligations and other commitments in effect at december 31, 2007, are summarized in the following table:.
($in millions) | payments due by period (a) total | payments due by period (a) less than 1 year | payments due by period (a) 1-3 years | payments due by period (a) 3-5 years | payments due by period (a) more than 5 years
long-term debt | $2302.6 | $126.1 | $547.6 | $1174.9 | $454.0
capital lease obligations | 4.4 | 1.0 | 0.8 | 0.5 | 2.1
interest payments on long-term debt (b) | 698.6 | 142.9 | 246.3 | 152.5 | 156.9
operating leases | 218.5 | 49.9 | 71.7 | 42.5 | 54.4
purchase obligations (c) | 6092.6 | 2397.2 | 3118.8 | 576.6 | 2013
common stock repurchase agreements | 131.0 | 131.0 | 2013 | 2013 | 2013
legal settlement | 70.0 | 70.0 | 2013 | 2013 | 2013
total payments on contractual obligations | $9517.7 | $2918.1 | $3985.2 | $1947.0 | $667.4
total payments on contractual obligations $9517.7 $2918.1 $3985.2 $1947.0 $667.4 (a) amounts reported in local currencies have been translated at the year-end exchange rates. (b) for variable rate facilities, amounts are based on interest rates in effect at year end and do not contemplate the effects of hedging instruments. (c) the company 2019s purchase obligations include contracted amounts for aluminum, steel, plastic resin and other direct materials. also included are commitments for purchases of natural gas and electricity, aerospace and technologies contracts and other less significant items. in cases where variable prices and/or usage are involved, management 2019s best estimates have been used. depending on the circumstances, early termination of the contracts may not result in penalties and, therefore, actual payments could vary significantly. contributions to the company 2019s defined benefit pension plans, not including the unfunded german plans, are expected to be $49 million in 2008. this estimate may change based on plan asset performance. benefit payments related to these plans are expected to be $66 million, $70 million, $74 million, $77 million and $82 million for the years ending december 31, 2008 through 2012, respectively, and a total of $473 million for the years 2013 through 2017. payments to participants in the unfunded german plans are expected to be approximately $26 million in each of the years 2008 through 2012 and a total of $136 million for the years 2013 through 2017. in accordance with united kingdom pension regulations, ball has provided an a38 million guarantee to the plan for its defined benefit plan in the united kingdom. if the company 2019s credit rating falls below specified levels, ball will be required to either: (1) contribute an additional a38 million to the plan; (2) provide a letter of credit to the plan in that amount or (3) if imposed by the appropriate regulatory agency, provide a lien on company assets in that amount for the benefit of the plan. the guarantee can be removed upon approval by both ball and the pension plan trustees. our share repurchase program in 2007 was $211.3 million, net of issuances, compared to $45.7 million net repurchases in 2006 and $358.1 million in 2005. the net repurchases included the $51.9 million settlement on january 5, 2007, of a forward contract entered into in december 2006 for the repurchase of 1200000 shares. however, the 2007 net repurchases did not include a forward contract entered into in december 2007 for the repurchase of 675000 shares. the contract was settled on january 7, 2008, for $31 million in cash. on december 12, 2007, in a privately negotiated transaction, ball entered into an accelerated share repurchase agreement to buy $100 million of its common shares using cash on hand and available borrowings. the company advanced the $100 million on january 7, 2008, and received approximately 2 million shares, which represented 90 percent of the total shares as calculated using the previous day 2019s closing price. the exact number of shares to be repurchased under the agreement, which will be determined on the settlement date (no later than june 5, 2008), is subject to an adjustment based on a weighted average price calculation for the period between the initial purchase date and the settlement date. the company has the option to settle the contract in either cash or shares. including the settlements of the forward share purchase contract and the accelerated share repurchase agreement, we expect to repurchase approximately $300 million of our common shares, net of issuances, in 2008. annual cash dividends paid on common stock were 40 cents per share in 2007, 2006 and 2005. total dividends paid were $40.6 million in 2007, $41 million in 2006 and $42.5 million in 2005..
what was the cash dividend paid per common stock share in 2006? 40.0
what is that divided by 100? 0.4
what were total dividends paid in 2006? | 41.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | 2022 net revenues in our connected fitness operating segment increased $34.2 million to $53.4 million in 2015 from $19.2 million in 2014 primarily due to revenues generated from our two connected fitness acquisitions in 2015 and growth in our existing connected fitness business. operating income (loss) by segment is summarized below:.
(in thousands) | year ended december 31, 2015 | year ended december 31, 2014 | year ended december 31, $change | year ended december 31,% (%) change
north america | $460961 | $372347 | $88614 | 23.8% (23.8%)
emea | 3122 | -11763 (11763) | 14885 | 126.5
asia-pacific | 36358 | 21858 | 14500 | 66.3
latin america | -30593 (30593) | -15423 (15423) | -15170 (15170) | -98.4 (98.4)
connected fitness | -61301 (61301) | -13064 (13064) | -48237 (48237) | -369.2 (369.2)
total operating income | $408547 | $353955 | $54592 | 15.4% (15.4%)
the increase in total operating income was driven by the following: 2022 operating income in our north america operating segment increased $88.6 million to $461.0 million in 2015 from $372.4 million in 2014 primarily due to the items discussed above in the consolidated results of operations. 2022 operating income in our emea operating segment increased $14.9 million to $3.1 million in 2015 from a loss of $11.8 million in 2014 primarily due to sales growth discussed above in the consolidated results of operations. 2022 operating income in our asia-pacific operating segment increased $14.5 million to $36.4 million in 2015 from $21.9 million in 2014 primarily due to sales growth discussed above in the consolidated results of operations. 2022 operating loss in our latin america operating segment increased $15.2 million to $30.6 million in 2015 from $15.4 million in 2014 primarily due to increased investments to support growth in the region and the economic challenges in brazil during the period. this increase in operating loss was offset by sales growth discussed above. 2022 operating loss in our connected fitness segment increased $48.2 million to $61.3 million in 2015 from $13.1 million in 2014 primarily due to investments to support growth in our connected fitness business, including the impact of our two connected fitness acquisitions in 2015. these acquisitions contributed $23.6 million to the operating loss for the connected fitness segment in 2015. seasonality historically, we have recognized a majority of our net revenues and a significant portion of our income from operations in the last two quarters of the year, driven primarily by increased sales volume of our products during the fall selling season, including our higher priced cold weather products, along with a larger proportion of higher margin direct to consumer sales. seasonality could have an impact on the timing of accruals if the sales in the last two quarters of the year do not materialize. the level of our working capital generally reflects the seasonality and growth in our business. we generally expect inventory, accounts payable and certain accrued expenses to be higher in the second and third quarters in preparation for the fall selling season..
what is the connected fitness value in 2014? -13064.0
what is that divided by 1000? -13.064
what is that divided by 2014 net revenues? | -0.68042 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | net sales increased $29.9 million, or 6.3% (6.3%), due to higher sales volume driven primarily by continuing improvement in the u.s. home products market and the benefit from new product introductions and price increases to help mitigate cumulative raw material cost increases. operating income increased $12.6 million, or 20.4% (20.4%), due to higher net sales, the benefits from productivity improvements and leveraging sales on our existing fixed cost base. security net sales increased $12.8 million, or 2.2% (2.2%), due to higher sales volume and price increases to help mitigate cumulative raw material cost increases. these benefits were partially offset by the impact of our exiting of two product lines in our commercial distribution channel. operating income increased $5.8 million, or 8.7% (8.7%), primarily due to the higher net sales, the benefits from productivity improvements, lower restructuring and other charges (approximately $6 million) relating to the completion in 2016 of a manufacturing facility relocation, favorable foreign exchange and the related cost savings resulting from the facility relocation. corporate corporate expenses increased by $5.7 million mainly due to the impairment of a long lived asset and recognition of an actuarial gain versus an actuarial loss in 2016 and higher defined benefit plan income during 2017 compared to 2016. (in millions) 2017 2016.
(in millions) | 2017 | 2016
general and administrative expense | $-90.3 (90.3) | $-80.9 (80.9)
defined benefit plan income | 4.2 | 2.9
defined benefit plan recognition of actuarial gains (losses) | 0.5 | -1.9 (1.9)
total corporate expenses | $-85.6 (85.6) | $-79.9 (79.9)
in future periods the company may record, in the corporate segment, material expense or income associated with actuarial gains and losses arising from periodic remeasurement of our liabilities for defined benefit plans. at a minimum the company will remeasure its defined benefit plan liabilities in the fourth quarter of each year. remeasurements due to plan amendments and settlements may also occur in interim periods during the year. remeasurement of these liabilities attributable to updating our liability discount rates and expected return on assets may, in particular, result in material income or expense recognition. 2016 compared to 2015 total fortune brands net sales net sales increased $405.5 million, or 9% (9%). the increase was due to higher sales volume primarily from the continuing improvement in u.s. market conditions for home products, the benefit from the acquisitions in our cabinets and plumbing segments and price increases to help mitigate cumulative raw material cost increases and the effect of unfavorable foreign exchange. these benefits were partially offset by unfavorable foreign exchange of approximately $27 million and higher sales rebates. cost of products sold cost of products sold increased $182.8 million, or 6% (6%), due to higher net sales, including the impact of the acquisitions in our cabinets and plumbing segments, partially offset by the benefit of productivity improvements..
what was the change in the defined benefit plan income from 2016 to 2017? | 1.3 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | the goldman sachs group, inc. and subsidiaries management 2019s discussion and analysis sensitivity measures certain portfolios and individual positions are not included in var because var is not the most appropriate risk measure. other sensitivity measures we use to analyze market risk are described below. 10% (10%) sensitivity measures. the table below presents market risk for positions, accounted for at fair value, that are not included in var by asset category..
$in millions | as of december 2017 | as of december 2016 | as of december 2015
equity | $2096 | $2085 | $2157
debt | 1606 | 1702 | 1479
total | $3702 | $3787 | $3636
in the table above: 2030 the market risk of these positions is determined by estimating the potential reduction in net revenues of a 10% (10%) decline in the value of these positions. 2030 equity positions relate to private and restricted public equity securities, including interests in funds that invest in corporate equities and real estate and interests in hedge funds. 2030 debt positions include interests in funds that invest in corporate mezzanine and senior debt instruments, loans backed by commercial and residential real estate, corporate bank loans and other corporate debt, including acquired portfolios of distressed loans. 2030 equity and debt funded positions are included in our consolidated statements of financial condition in financial instruments owned. see note 6 to the consolidated financial statements for further information about cash instruments. 2030 these measures do not reflect the diversification effect across asset categories or across other market risk measures. credit spread sensitivity on derivatives and financial liabilities. var excludes the impact of changes in counterparty and our own credit spreads on derivatives, as well as changes in our own credit spreads (debt valuation adjustment) on financial liabilities for which the fair value option was elected. the estimated sensitivity to a one basis point increase in credit spreads (counterparty and our own) on derivatives was a gain of $3 million and $2 million (including hedges) as of december 2017 and december 2016, respectively. in addition, the estimated sensitivity to a one basis point increase in our own credit spreads on financial liabilities for which the fair value option was elected was a gain of $35 million and $25 million as of december 2017 and december 2016, respectively. however, the actual net impact of a change in our own credit spreads is also affected by the liquidity, duration and convexity (as the sensitivity is not linear to changes in yields) of those financial liabilities for which the fair value option was elected, as well as the relative performance of any hedges undertaken. interest rate sensitivity. loans receivable as of december 2017 and december 2016 were $65.93 billion and $49.67 billion, respectively, substantially all of which had floating interest rates. as of december 2017 and december 2016, the estimated sensitivity to a 100 basis point increase in interest rates on such loans was $527 million and $405 million, respectively, of additional interest income over a twelve-month period, which does not take into account the potential impact of an increase in costs to fund such loans. see note 9 to the consolidated financial statements for further information about loans receivable. other market risk considerations as of december 2017 and december 2016, we had commitments and held loans for which we have obtained credit loss protection from sumitomo mitsui financial group, inc. see note 18 to the consolidated financial statements for further information about such lending commitments. in addition, we make investments in securities that are accounted for as available-for-sale and included in financial instruments owned in the consolidated statements of financial condition. see note 6 to the consolidated financial statements for further information. we also make investments accounted for under the equity method and we also make direct investments in real estate, both of which are included in other assets. direct investments in real estate are accounted for at cost less accumulated depreciation. see note 13 to the consolidated financial statements for further information about other assets. goldman sachs 2017 form 10-k 93.
between the years of 2015 and 2016, what was the change in the estimated sensitivity to a one basis point increase in credit spreads on financial liabilities for which the fair value option was elected? | 10.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | transaction and commercial issues in many of our businesses. these skills are a valuable resource as we monitor regulatory and tariff schemes to determine our capital budgeting needs and integrate acquisitions. the company expects to realize cost reduction and performance improvement benefits in both earnings and cash flows; however, there can be no assurance that the reductions and improvements will continue and our inability to sustain the reductions and improvements may result in less than expected earnings and cash flows in 2004 and beyond. asset sales during 2003, we continued the initiative to sell all or part of certain of the company 2019s subsidiaries. this initiative was designed to decrease the company 2019s dependence on access to capital markets and improve the strength of our balance sheet by reducing financial leverage and improving liquidity. the following chart details the asset sales that were closed during 2003. sales proceeds project name date completed (in millions) location.
project name | date completed | sales proceeds (in millions) | location
cilcorp/medina valley | january 2003 | $495 | united states
aes ecogen/aes mt. stuart | january 2003 | $59 | australia
mountainview | march 2003 | $30 | united states
kelvin | march 2003 | $29 | south africa
songas | april 2003 | $94 | tanzania
aes barry limited | july 2003 | a340/$62 | united kingdom
aes haripur private ltd/aes meghnaghat ltd | december 2003 | $145 | bangladesh
aes mtkvari/aes khrami/aes telasi | august 2003 | $23 | republic of georgia
medway power limited/aes medway operations limited | november 2003 | a347/$78 | united kingdom
aes oasis limited | december 2003 | $150 | pakistan/oman
the company continues to evaluate its portfolio and business performance and may decide to dispose of additional businesses in the future. however given the improvements in our liquidity there will be a lower emphasis placed on asset sales in the future for purposes of improving liquidity and strengthening the balance sheet. for any sales that happen in the future, there can be no guarantee that the proceeds from such sale transactions will cover the entire investment in the subsidiaries. depending on which businesses are eventually sold, the entire or partial sale of any business may change the current financial characteristics of the company 2019s portfolio and results of operations. furthermore future sales may impact the amount of recurring earnings and cash flows the company would expect to achieve. subsidiary restructuring during 2003, we completed and initiated restructuring transactions for several of our south american businesses. the efforts are focused on improving the businesses long-term prospects for generating acceptable returns on invested capital or extending short-term debt maturities. businesses impacted include eletropaulo, tiete, uruguaiana and sul in brazil and gener in chile. brazil eletropaulo. aes has owned an interest in eletropaulo since april 1998, when the company was privatized. in february 2002 aes acquired a controlling interest in the business and as a consequence started to consolidate it. aes financed a significant portion of the acquisition of eletropaulo, including both common and preferred shares, through loans and deferred purchase price financing arrangements provided by the brazilian national development bank 2014 (2018 2018bndes 2019 2019), and its wholly-owned subsidiary, bndes participac 0327o 0303es s.a. (2018 2018bndespar 2019 2019), to aes 2019s subsidiaries, aes elpa s.a. (2018 2018aes elpa 2019 2019) and aes transgas empreendimentos, s.a. (2018 2018aes transgas 2019 2019)..
what were the sales proceeds from cilcorp/medina valley in january 2003? 495.0
what were the proceeds from aes ecogen/aes mt. stuart in january 2003? 59.0
what is the sum? 554.0
what is the sum including mountainview proceeds? 584.0
what is the proceeds from kelvin? | 29.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | earnings for the first quarter of 2007 are expected to be lower than in the fourth quarter of 2006. containerboard export sales volumes are expected to decline due to scheduled first-quarter main- tenance outages. sales volumes for u.s. converted products will be higher due to more shipping days, but expected softer demand should cause the ship- ments per day to decrease. average sales price real- izations are expected to be comparable to fourth- quarter averages. an additional containerboard price increase was announced in january that is expected to be fully realized in the second quarter. costs for wood, energy, starch, adhesives and freight are expected to increase. manufacturing costs will be higher due to costs associated with scheduled main- tenance outages in the containerboard mills. euro- pean container operating results are expected to improve as seasonally higher sales volumes and improved margins more than offset slightly higher manufacturing costs. consumer packaging demand and pricing for consumer packaging prod- ucts correlate closely with consumer spending and general economic activity. in addition to prices and volumes, major factors affecting the profitability of consumer packaging are raw material and energy costs, manufacturing efficiency and product mix. consumer packaging net sales increased 9% (9%) compared with 2005 and 7% (7%) compared with 2004. operating profits rose 8% (8%) from 2005, but declined 15% (15%) from 2004 levels. compared with 2005, higher sales volumes ($9 million), improved average sales price realizations ($33 million), reduced lack-of-order downtime ($18 million), and favorable mill oper- ations ($25 million) were partially offset by higher raw material costs ($19 million) and freight costs ($21 million), unfavorable mix ($14 million) and other costs ($21 million). consumer packaging in millions 2006 2005 2004.
in millions | 2006 | 2005 | 2004
sales | $2455 | $2245 | $2295
operating profit | $131 | $121 | $155
coated paperboard net sales of $1.5 billion in 2006 were higher than $1.3 billion in 2005 and $1.1 billion in 2004. sales volumes increased in 2006 compared with 2005, particularly in the folding car- ton board segment, reflecting improved demand for coated paperboard products. in 2006, our coated paperboard mills took 4000 tons of lack-of-order downtime, compared with 82000 tons of lack-of-order downtime in 2005. average sales price realizations were substantially improved in the cur- rent year, principally for folding carton board and cupstock board. operating profits were 51% (51%) higher in 2006 than in 2005, and 7% (7%) better than in 2004. the impact of the higher sales prices along with more favorable manufacturing operations due to strong performance at the mills more than offset higher input costs for energy and freight. foodservice net sales declined to $396 million in 2006, compared with $437 million in 2005 and $480 million in 2004, due principally to the sale of the jackson, tennessee plant in july 2005. sales vol- umes were lower in 2006 than in 2005, although average sales prices were higher due to the realiza- tion of price increases implemented during 2005. operating profits for 2006 improved over 2005 and 2004 levels largely due to the benefits from higher sales prices. raw material costs for bleached board were higher than in 2005, but manufacturing costs were more favorable due to increased productivity and reduced waste. shorewood net sales of $670 million were down from $691 million in 2005 and $687 million in 2004. sales volumes in 2006 were down from 2005 levels due to weak demand in the home entertainment and consumer products markets, although demand was strong in the tobacco segment. average sales prices for the year were lower than in 2005. operating prof- its were down significantly from both 2005 and 2004 due to the decline in sales, particularly in the higher margin home entertainment markets, higher raw material costs for bleached board and certain inventory adjustment costs. entering 2007, coated paperboard first-quarter sales volumes are expected to be seasonally stronger than in the fourth quarter 2006 for folding carton board and bristols. average sales price realizations are expected to rise with a price increase announced in january. it is anticipated that manufacturing costs will improve versus an unfavorable fourth quarter. foodservice earnings for the first quarter of 2007 are expected to decline due to seasonally weaker vol- ume. however, sales price realizations will be slightly higher, and the seasonal switch to hot cup contain- ers will have a favorable impact on product mix. shorewood sales volumes for the first quarter of 2007 are expected to seasonally decline, but the earnings impact will be partially offset by pricing improvements and an improved product mix. distribution our distribution business, principally represented by our xpedx business, markets a diverse array of products and supply chain services to customers in.
what was the difference in shorewood net sales between 2005 and 2006? -21.0
and the value for 2005 again? 691.0
so what was the percentage reduction during this time? | -0.03039 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | management 2019s discussion and analysis 78 jpmorgan chase & co./2018 form 10-k treasury and cio overview treasury and cio is predominantly responsible for measuring, monitoring, reporting and managing the firm 2019s liquidity, funding, capital, structural interest rate and foreign exchange risks. the risks managed by treasury and cio arise from the activities undertaken by the firm 2019s four major reportable business segments to serve their respective client bases, which generate both on- and off- balance sheet assets and liabilities. treasury and cio seek to achieve the firm 2019s asset-liability management objectives generally by investing in high- quality securities that are managed for the longer-term as part of the firm 2019s investment securities portfolio. treasury and cio also use derivatives to meet the firm 2019s asset- liability management objectives. for further information on derivatives, refer to note 5. in addition, treasury and cio manage the firm 2019s cash position primarily through depositing at central banks and investing in short-term instruments. for further information on liquidity and funding risk, refer to liquidity risk management on pages 95 2013100. for information on interest rate, foreign exchange and other risks, refer to market risk management on pages 124 2013131. the investment securities portfolio primarily consists of agency and nonagency mortgage-backed securities, u.s. and non-u.s. government securities, obligations of u.s. states and municipalities, other abs and corporate debt securities. at december 31, 2018, the investment securities portfolio was $260.1 billion, and the average credit rating of the securities comprising the portfolio was aa+ (based upon external ratings where available and, where not available, based primarily upon internal ratings that correspond to ratings as defined by s&p and moody 2019s). refer to note 10 for further information on the firm 2019s investment securities portfolio. selected income statement and balance sheet data as of or for the year ended december 31, (in millions) 2018 2017 2016 investment securities gains/ (losses) $(395) $(78) $132 available-for-sale (201cafs 201d) investment securities (average) 203449 219345 226892 held-to-maturity (201chtm 201d) investment securities (average) 31747 47927 51358 investment securities portfolio (average) 235197 267272 278250 afs investment securities (period-end) 228681 200247 236670 htm investment securities (period-end) 31434 47733 50168 investment securities portfolio (period 2013end) 260115 247980 286838 as permitted by the new hedge accounting guidance, the firm elected to transfer certain investment securities from htm to afs in the first quarter of 2018. for additional information, refer to notes 1 and 10..
as of or for the year ended december 31 (in millions) | 2018 | 2017 | 2016
investment securities gains/ (losses) | $-395 (395) | $-78 (78) | $132
available-for-sale (201cafs 201d) investment securities (average) | 203449 | 219345 | 226892
held-to-maturity (201chtm 201d) investment securities (average) | 31747 | 47927 | 51358
investment securities portfolio (average) | 235197 | 267272 | 278250
afs investment securities (period-end) | 228681 | 200247 | 236670
htm investment securities (period-end) | 31434 | 47733 | 50168
investment securities portfolio (period 2013end) | 260115 | 247980 | 286838
management 2019s discussion and analysis 78 jpmorgan chase & co./2018 form 10-k treasury and cio overview treasury and cio is predominantly responsible for measuring, monitoring, reporting and managing the firm 2019s liquidity, funding, capital, structural interest rate and foreign exchange risks. the risks managed by treasury and cio arise from the activities undertaken by the firm 2019s four major reportable business segments to serve their respective client bases, which generate both on- and off- balance sheet assets and liabilities. treasury and cio seek to achieve the firm 2019s asset-liability management objectives generally by investing in high- quality securities that are managed for the longer-term as part of the firm 2019s investment securities portfolio. treasury and cio also use derivatives to meet the firm 2019s asset- liability management objectives. for further information on derivatives, refer to note 5. in addition, treasury and cio manage the firm 2019s cash position primarily through depositing at central banks and investing in short-term instruments. for further information on liquidity and funding risk, refer to liquidity risk management on pages 95 2013100. for information on interest rate, foreign exchange and other risks, refer to market risk management on pages 124 2013131. the investment securities portfolio primarily consists of agency and nonagency mortgage-backed securities, u.s. and non-u.s. government securities, obligations of u.s. states and municipalities, other abs and corporate debt securities. at december 31, 2018, the investment securities portfolio was $260.1 billion, and the average credit rating of the securities comprising the portfolio was aa+ (based upon external ratings where available and, where not available, based primarily upon internal ratings that correspond to ratings as defined by s&p and moody 2019s). refer to note 10 for further information on the firm 2019s investment securities portfolio. selected income statement and balance sheet data as of or for the year ended december 31, (in millions) 2018 2017 2016 investment securities gains/ (losses) $(395) $(78) $132 available-for-sale (201cafs 201d) investment securities (average) 203449 219345 226892 held-to-maturity (201chtm 201d) investment securities (average) 31747 47927 51358 investment securities portfolio (average) 235197 267272 278250 afs investment securities (period-end) 228681 200247 236670 htm investment securities (period-end) 31434 47733 50168 investment securities portfolio (period 2013end) 260115 247980 286838 as permitted by the new hedge accounting guidance, the firm elected to transfer certain investment securities from htm to afs in the first quarter of 2018. for additional information, refer to notes 1 and 10..
what is the value of the afs investment securities in 2018? | 228681.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | when we purchase an asset, we capitalize all costs necessary to make the asset ready for its intended use. however, many of our assets are self-constructed. a large portion of our capital expenditures is for track structure expansion (capacity projects) and replacement (program projects), which is typically performed by our employees. approximately 13% (13%) of our full-time equivalent employees are dedicated to the construction of capital assets. costs that are directly attributable or overhead costs that relate directly to capital projects are capitalized. direct costs that are capitalized as part of self-constructed assets include material, labor, and work equipment. indirect costs are capitalized if they clearly relate to the construction of the asset. these costs are allocated using appropriate statistical bases. the capitalization of indirect costs is consistent with fasb statement no. 67, accounting for costs and initial rental operations of real estate projects. general and administrative expenditures are expensed as incurred. normal repairs and maintenance are also expensed as incurred, while costs incurred that extend the useful life of an asset, improve the safety of our operations or improve operating efficiency are capitalized. assets held under capital leases are recorded at the lower of the net present value of the minimum lease payments or the fair value of the leased asset at the inception of the lease. amortization expense is computed using the straight-line method over the shorter of the estimated useful lives of the assets or the period of the related lease. 10. accounts payable and other current liabilities dec. 31, dec. 31, millions of dollars 2008 2007.
millions of dollars | dec. 31 2008 | dec. 31 2007
accounts payable | $629 | $732
accrued wages and vacation | 367 | 394
accrued casualty costs | 390 | 371
income and other taxes | 207 | 343
dividends and interest | 328 | 284
equipment rents payable | 93 | 103
other | 546 | 675
total accounts payable and other current liabilities | $2560 | $2902
11. fair value measurements during the first quarter of 2008, we fully adopted fasb statement no. 157, fair value measurements (fas 157). fas 157 established a framework for measuring fair value and expanded disclosures about fair value measurements. the adoption of fas 157 had no impact on our financial position or results of operations. fas 157 applies to all assets and liabilities that are measured and reported on a fair value basis. this enables the reader of the financial statements to assess the inputs used to develop those measurements by establishing a hierarchy for ranking the quality and reliability of the information used to determine fair values. the statement requires that each asset and liability carried at fair value be classified into one of the following categories: level 1: quoted market prices in active markets for identical assets or liabilities. level 2: observable market based inputs or unobservable inputs that are corroborated by market data. level 3: unobservable inputs that are not corroborated by market data..
as of december 31, 2008, what was the amount of the accrued wages and vacation? 367.0
and what was the total of accounts payable and other current liabilities? 2560.0
what percentage, then, did that amount represent in relation to this total? 0.14336
and from 2007 to that year, what was the change in the total of equipment rents payable? | -10.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | page 31 of 94 other liquidity items cash payments required for long-term debt maturities, rental payments under noncancellable operating leases, purchase obligations and other commitments in effect at december 31, 2007, are summarized in the following table:.
($in millions) | payments due by period (a) total | payments due by period (a) less than 1 year | payments due by period (a) 1-3 years | payments due by period (a) 3-5 years | payments due by period (a) more than 5 years
long-term debt | $2302.6 | $126.1 | $547.6 | $1174.9 | $454.0
capital lease obligations | 4.4 | 1.0 | 0.8 | 0.5 | 2.1
interest payments on long-term debt (b) | 698.6 | 142.9 | 246.3 | 152.5 | 156.9
operating leases | 218.5 | 49.9 | 71.7 | 42.5 | 54.4
purchase obligations (c) | 6092.6 | 2397.2 | 3118.8 | 576.6 | 2013
common stock repurchase agreements | 131.0 | 131.0 | 2013 | 2013 | 2013
legal settlement | 70.0 | 70.0 | 2013 | 2013 | 2013
total payments on contractual obligations | $9517.7 | $2918.1 | $3985.2 | $1947.0 | $667.4
total payments on contractual obligations $9517.7 $2918.1 $3985.2 $1947.0 $667.4 (a) amounts reported in local currencies have been translated at the year-end exchange rates. (b) for variable rate facilities, amounts are based on interest rates in effect at year end and do not contemplate the effects of hedging instruments. (c) the company 2019s purchase obligations include contracted amounts for aluminum, steel, plastic resin and other direct materials. also included are commitments for purchases of natural gas and electricity, aerospace and technologies contracts and other less significant items. in cases where variable prices and/or usage are involved, management 2019s best estimates have been used. depending on the circumstances, early termination of the contracts may not result in penalties and, therefore, actual payments could vary significantly. contributions to the company 2019s defined benefit pension plans, not including the unfunded german plans, are expected to be $49 million in 2008. this estimate may change based on plan asset performance. benefit payments related to these plans are expected to be $66 million, $70 million, $74 million, $77 million and $82 million for the years ending december 31, 2008 through 2012, respectively, and a total of $473 million for the years 2013 through 2017. payments to participants in the unfunded german plans are expected to be approximately $26 million in each of the years 2008 through 2012 and a total of $136 million for the years 2013 through 2017. in accordance with united kingdom pension regulations, ball has provided an a38 million guarantee to the plan for its defined benefit plan in the united kingdom. if the company 2019s credit rating falls below specified levels, ball will be required to either: (1) contribute an additional a38 million to the plan; (2) provide a letter of credit to the plan in that amount or (3) if imposed by the appropriate regulatory agency, provide a lien on company assets in that amount for the benefit of the plan. the guarantee can be removed upon approval by both ball and the pension plan trustees. our share repurchase program in 2007 was $211.3 million, net of issuances, compared to $45.7 million net repurchases in 2006 and $358.1 million in 2005. the net repurchases included the $51.9 million settlement on january 5, 2007, of a forward contract entered into in december 2006 for the repurchase of 1200000 shares. however, the 2007 net repurchases did not include a forward contract entered into in december 2007 for the repurchase of 675000 shares. the contract was settled on january 7, 2008, for $31 million in cash. on december 12, 2007, in a privately negotiated transaction, ball entered into an accelerated share repurchase agreement to buy $100 million of its common shares using cash on hand and available borrowings. the company advanced the $100 million on january 7, 2008, and received approximately 2 million shares, which represented 90 percent of the total shares as calculated using the previous day 2019s closing price. the exact number of shares to be repurchased under the agreement, which will be determined on the settlement date (no later than june 5, 2008), is subject to an adjustment based on a weighted average price calculation for the period between the initial purchase date and the settlement date. the company has the option to settle the contract in either cash or shares. including the settlements of the forward share purchase contract and the accelerated share repurchase agreement, we expect to repurchase approximately $300 million of our common shares, net of issuances, in 2008. annual cash dividends paid on common stock were 40 cents per share in 2007, 2006 and 2005. total dividends paid were $40.6 million in 2007, $41 million in 2006 and $42.5 million in 2005..
what were the annual cash dividends paid on common stock per share in 2006, in dollars? | 0.4 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | software and will give the company a comprehensive design-to-silicon flow that links directly into the semiconductor manufacturing process. integrating hpl 2019s yield management and test chip technologies into the company 2019s industry-leading dfm portfolio is also expected to enable customers to increase their productivity and improve profitability in the design and manufacture of advanced semiconductor devices. purchase price. the company paid $11.0 million in cash for all outstanding shares of hpl. in addition, the company had a prior investment in hpl of approximately $1.9 million. the total purchase consideration consisted of:.
- | (in thousands)
cash paid | $11001
prior investment in hpl | 1872
acquisition-related costs | 2831
total purchase price | $15704
acquisition-related costs of $2.8 million consist primarily of legal, tax and accounting fees of $1.6 million, $0.3 million of estimated facilities closure costs and other directly related charges, and $0.9 million in employee termination costs. as of october 31, 2006, the company had paid $2.2 million of the acquisition related costs, of which $1.1 million were for professional services costs, $0.2 million were for facilities closure costs and $0.9 million were for employee termination costs. the $0.6 million balance remaining at october 31, 2006 consists of professional and tax-related service fees and facilities closure costs. assets acquired. the company acquired $8.5 million of intangible assets consisting of $5.1 million in core developed technology, $3.2 million in customer relationships and $0.2 million in backlog to be amortized over two to four years. approximately $0.8 million of the purchase price represents the fair value of acquired in-process research and development projects that have not yet reached technological feasibility and have no alternative future use. accordingly, the amount was immediately expensed and included in the company 2019s condensed consolidated statement of operations for the first quarter of fiscal year 2006. additionally, the company acquired tangible assets of $14.0 million and assumed liabilities of $10.9 million. goodwill, representing the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired in the merger was $3.4 million. goodwill resulted primarily from the company 2019s expectation of synergies from the integration of hpl 2019s technology with the company 2019s technology and operations. other. during the fiscal year 2006, the company completed an asset acquisition for cash consideration of $1.5 million. this acquisition is not considered material to the company 2019s consolidated balance sheet and results of operations. fiscal 2005 acquisitions nassda corporation (nassda) the company acquired nassda on may 11, 2005. reasons for the acquisition. the company believes nassda 2019s full-chip circuit simulation and analysis software will broaden its offerings of transistor-level circuit simulation tools, particularly in the area of mixed-signal and memory design. purchase price. the company acquired all the outstanding shares of nassda for total cash consideration of $200.2 million, or $7.00 per share. in addition, as required by the merger agreement, certain nassda officers, directors and employees who were defendants in certain preexisting litigation.
what is the total acquired intangible assets in thousands? | 8500.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | five-year stock performance graph the graph below illustrates the cumulative total shareholder return on snap-on common stock since december 31, 2007, assuming that dividends were reinvested. the graph compares snap-on 2019s performance to that of the standard & poor 2019s 500 stock index (201cs&p 500 201d) and a peer group. snap-on incorporated total shareholder return (1) fiscal year ended (2) snap-on incorporated peer group (3) s&p 500.
fiscal year ended (2) | snap-onincorporated | peer group (3) | s&p 500
december 31 2007 | $100.00 | $100.00 | $100.00
december 31 2008 | 83.66 | 66.15 | 63.00
december 31 2009 | 93.20 | 84.12 | 79.67
december 31 2010 | 128.21 | 112.02 | 91.67
december 31 2011 | 117.47 | 109.70 | 93.61
december 31 2012 | 187.26 | 129.00 | 108.59
(1) assumes $100 was invested on december 31, 2007, and that dividends were reinvested quarterly. (2) the company's fiscal year ends on the saturday that is on or nearest to december 31 of each year; for ease of calculation, the fiscal year end is assumed to be december 31. (3) the peer group consists of: stanley black & decker, inc., danaher corporation, emerson electric co., genuine parts company, newell rubbermaid inc., pentair ltd., spx corporation and w.w. grainger, inc. cooper industries plc, a former member of the peer group, was removed, as it was acquired by a larger, non-comparable company in 2012. 2012 annual report 23 snap-on incorporated peer group s&p 500 2007 2008 201120102009 2012.
what is the value of the investment in snap-onincorporated in 2008? 83.66
what is the net change in value? | -16.34 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | management 2019s discussion and analysis 78 jpmorgan chase & co./2018 form 10-k treasury and cio overview treasury and cio is predominantly responsible for measuring, monitoring, reporting and managing the firm 2019s liquidity, funding, capital, structural interest rate and foreign exchange risks. the risks managed by treasury and cio arise from the activities undertaken by the firm 2019s four major reportable business segments to serve their respective client bases, which generate both on- and off- balance sheet assets and liabilities. treasury and cio seek to achieve the firm 2019s asset-liability management objectives generally by investing in high- quality securities that are managed for the longer-term as part of the firm 2019s investment securities portfolio. treasury and cio also use derivatives to meet the firm 2019s asset- liability management objectives. for further information on derivatives, refer to note 5. in addition, treasury and cio manage the firm 2019s cash position primarily through depositing at central banks and investing in short-term instruments. for further information on liquidity and funding risk, refer to liquidity risk management on pages 95 2013100. for information on interest rate, foreign exchange and other risks, refer to market risk management on pages 124 2013131. the investment securities portfolio primarily consists of agency and nonagency mortgage-backed securities, u.s. and non-u.s. government securities, obligations of u.s. states and municipalities, other abs and corporate debt securities. at december 31, 2018, the investment securities portfolio was $260.1 billion, and the average credit rating of the securities comprising the portfolio was aa+ (based upon external ratings where available and, where not available, based primarily upon internal ratings that correspond to ratings as defined by s&p and moody 2019s). refer to note 10 for further information on the firm 2019s investment securities portfolio. selected income statement and balance sheet data as of or for the year ended december 31, (in millions) 2018 2017 2016 investment securities gains/ (losses) $(395) $(78) $132 available-for-sale (201cafs 201d) investment securities (average) 203449 219345 226892 held-to-maturity (201chtm 201d) investment securities (average) 31747 47927 51358 investment securities portfolio (average) 235197 267272 278250 afs investment securities (period-end) 228681 200247 236670 htm investment securities (period-end) 31434 47733 50168 investment securities portfolio (period 2013end) 260115 247980 286838 as permitted by the new hedge accounting guidance, the firm elected to transfer certain investment securities from htm to afs in the first quarter of 2018. for additional information, refer to notes 1 and 10..
as of or for the year ended december 31 (in millions) | 2018 | 2017 | 2016
investment securities gains/ (losses) | $-395 (395) | $-78 (78) | $132
available-for-sale (201cafs 201d) investment securities (average) | 203449 | 219345 | 226892
held-to-maturity (201chtm 201d) investment securities (average) | 31747 | 47927 | 51358
investment securities portfolio (average) | 235197 | 267272 | 278250
afs investment securities (period-end) | 228681 | 200247 | 236670
htm investment securities (period-end) | 31434 | 47733 | 50168
investment securities portfolio (period 2013end) | 260115 | 247980 | 286838
management 2019s discussion and analysis 78 jpmorgan chase & co./2018 form 10-k treasury and cio overview treasury and cio is predominantly responsible for measuring, monitoring, reporting and managing the firm 2019s liquidity, funding, capital, structural interest rate and foreign exchange risks. the risks managed by treasury and cio arise from the activities undertaken by the firm 2019s four major reportable business segments to serve their respective client bases, which generate both on- and off- balance sheet assets and liabilities. treasury and cio seek to achieve the firm 2019s asset-liability management objectives generally by investing in high- quality securities that are managed for the longer-term as part of the firm 2019s investment securities portfolio. treasury and cio also use derivatives to meet the firm 2019s asset- liability management objectives. for further information on derivatives, refer to note 5. in addition, treasury and cio manage the firm 2019s cash position primarily through depositing at central banks and investing in short-term instruments. for further information on liquidity and funding risk, refer to liquidity risk management on pages 95 2013100. for information on interest rate, foreign exchange and other risks, refer to market risk management on pages 124 2013131. the investment securities portfolio primarily consists of agency and nonagency mortgage-backed securities, u.s. and non-u.s. government securities, obligations of u.s. states and municipalities, other abs and corporate debt securities. at december 31, 2018, the investment securities portfolio was $260.1 billion, and the average credit rating of the securities comprising the portfolio was aa+ (based upon external ratings where available and, where not available, based primarily upon internal ratings that correspond to ratings as defined by s&p and moody 2019s). refer to note 10 for further information on the firm 2019s investment securities portfolio. selected income statement and balance sheet data as of or for the year ended december 31, (in millions) 2018 2017 2016 investment securities gains/ (losses) $(395) $(78) $132 available-for-sale (201cafs 201d) investment securities (average) 203449 219345 226892 held-to-maturity (201chtm 201d) investment securities (average) 31747 47927 51358 investment securities portfolio (average) 235197 267272 278250 afs investment securities (period-end) 228681 200247 236670 htm investment securities (period-end) 31434 47733 50168 investment securities portfolio (period 2013end) 260115 247980 286838 as permitted by the new hedge accounting guidance, the firm elected to transfer certain investment securities from htm to afs in the first quarter of 2018. for additional information, refer to notes 1 and 10..
what was the amount of the afs investment securities in 2018? 228681.0
and what was it in 2017? 200247.0
what was, then, the combined total for the two years? | 428928.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | investment advisory revenues earned on the other investment portfolios that we manage decreased $44 million, or 8.5% (8.5%), to $477.8 million in 2009. average assets in these portfolios were $129.5 billion during 2009, down $12.6 billion or 9% (9%) from 2008. other investment portfolio assets under management increased $46.7 billion during 2009, including $36.5 billion in market gains and income and $10.2 billion of net inflows, primarily from institutional investors. net inflows include $1.3 billion transferred from the stock and blended asset mutual funds during 2009. administrative fees decreased $35 million, or 10% (10%), to $319 million in 2009. this change includes a $4 million decrease in 12b-1 distribution and service fees recognized on lower average assets under management in the advisor and r classes of our sponsored mutual funds and a $31 million reduction in our mutual fund servicing revenue, which is primarily attributable to our cost reduction efforts in the mutual fund and retirement plan servicing functions. changes in administrative fees are generally offset by similar changes in related operating expenses that are incurred to provide services to the funds and their investors. our largest expense, compensation and related costs, decreased $42 million, or 5% (5%), from 2008 to $773 million in 2009. the largest part of this decrease is attributable to a $19 million reduction in our annual bonus program. reductions in the use of outside contractors lowered 2009 costs $14 million with the remainder of the cost savings primarily attributable to the workforce reduction and lower employee benefits and other employment expenses. average headcount in 2009 was down 5.4% (5.4%) from 2008 due to attrition, retirements and our workforce reduction in april 2009. advertising and promotion expenditures were down $31 million, or 30% (30%), versus 2008 due to our decision to reduce spending in response to lower investor activity in the 2009 market environment. depreciation expense and other occupancy and facility costs together increased $4 million, or 2.5% (2.5%) compared to 2008, as we moderated or delayed our capital spending and facility growth plans. other operating expenses decreased $33 million, or 18% (18%) from 2008, including a decline of $4 million in distribution and service expenses recognized on lower average assets under management in our advisor and r classes of mutual fund shares that are sourced from financial intermediaries. our cost control efforts resulted in the remaining expense reductions, including lower professional fees and travel and related costs. our non-operating investment activity resulted in net losses of $12.7 million in 2009 and $52.3 million in 2008. the improvement of nearly $40 million is primarily attributable to a reduction in the other than temporary impairments recognized on our investments in sponsored mutual funds in 2009 versus 2008. the following table details our related mutual fund investment gains and losses (in millions) during the two years ended december 31, 2009..
- | 2008 | 2009 | change
other than temporary impairments recognized | $-91.3 (91.3) | $-36.1 (36.1) | $55.2
capital gain distributions received | 5.6 | 2.0 | -3.6 (3.6)
net gain (loss) realized on fund dispositions | -4.5 (4.5) | 7.4 | 11.9
net loss recognized on fund holdings | $-90.2 (90.2) | $-26.7 (26.7) | $63.5
lower income of $16 million from our money market holdings due to the significantly lower interest rate environment offset the improvement experienced with our fund investments. the 2009 provision for income taxes as a percentage of pretax income is 37.1% (37.1%), down from 38.4% (38.4%) in 2008. our 2009 provision includes reductions of prior years 2019 tax provisions and discrete nonrecurring benefits that lowered our 2009 effective tax rate by 1.0% (1.0%). c a p i t a l r e s o u r c e s a n d l i q u i d i t y. during 2010, stockholders 2019 equity increased from $2.9 billion to $3.3 billion. we repurchased nearly 5.0 million common shares for $240.0 million in 2010. tangible book value is $2.6 billion at december 31, 2010, and our cash and cash equivalents and our mutual fund investment holdings total more than $1.5 billion. given the availability of these financial resources, we do not maintain an available external source of liquidity. t. rowe price group annual report 2010.
between the years of 2008 and 2009, what was the variation in the capital gain distributions? -2.7
and what is this variation as a percent of those distributions in 2008? | -0.48214 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | sysco corporation a0- a0form a010-k 3 part a0i item a01 a0business we estimate that our sales by type of customer during the past three fiscal years were as follows:.
type of customer | 2019 | 2018 | 2017
restaurants | 62% (62%) | 62% (62%) | 61% (61%)
education government | 9 | 8 | 9
travel leisure retail | 9 | 8 | 9
healthcare | 8 | 9 | 9
other (1) | 12 | 13 | 12
totals | 100% (100%) | 100% (100%) | 100% (100%)
(1) other includes cafeterias that are not stand-alone restaurants, bakeries, caterers, churches, civic and fraternal organizations, vending distributors, other distributors and international exports. none of these types of customers, as a group, exceeded 5% (5%) of total sales in any of the years for which information is presented. sources of supply we purchase from thousands of suppliers, both domestic and international, none of which individually accounts for more than 10% (10%) of our purchases. these suppliers consist generally of large corporations selling brand name and private label merchandise, as well as independent regional brand and private label processors and packers. we also provide specialty and seasonal products from small to mid-sized producers to meet a growing demand for locally sourced products. our locally sourced products, including produce, meats, cheese and other products, help differentiate our customers 2019 offerings, satisfy demands for new products, and support local communities. purchasing is generally carried out through both centrally developed purchasing programs, domestically and internationally, and direct purchasing programs established by our various operating companies. we administer a consolidated product procurement program designed to develop, obtain and ensure consistent quality food and non-food products. the program covers the purchasing and marketing of branded merchandise, as well as products from a number of national brand suppliers, encompassing substantially all product lines. some of our products are purchased internationally within global procurement centers in order to build strategic relationships with international suppliers and to optimize our supply chain network. sysco 2019s operating companies purchase product from the suppliers participating in these consolidated programs and from other suppliers, although sysco brand products are only available to the operating companies through these consolidated programs. we also focus on increasing profitability by lowering operating costs and by lowering aggregate inventory levels, which reduces future facility expansion needs at our broadline operating companies, while providing greater value to our suppliers and customers. working capital practices our growth is funded through a combination of cash flow from operations, commercial paper issuances and long-term borrowings. see the discussion in item 7 201cmanagement 2019s discussion and analysis of financial condition and results of operations - liquidity and capital resources 201d regarding our liquidity, financial position and sources and uses of funds. we extend credit terms to our customers that can vary from cash on delivery to 30 days or more based on our assessment of each customer 2019s credit worthiness. we monitor each customer 2019s account and will suspend shipments if necessary. a majority of our sales orders are filled within 24 hours of when customer orders are placed. we generally maintain inventory on hand to be able to meet customer demand. the level of inventory on hand will vary by product depending on shelf-life, supplier order fulfillment lead times and customer demand. we also make purchases of additional volumes of certain products based on supply or pricing opportunities. we take advantage of suppliers 2019 cash discounts where appropriate and otherwise generally receive payment terms from our suppliers ranging from weekly to 45 days or more. corporate headquarters and shared services center our corporate staff makes available a number of services to our operating companies and our shared services center performs support services for employees, suppliers and customers. members of these groups possess experience and expertise in, among other areas, customer and vendor contract administration, accounting and finance, treasury, legal, information technology, payroll and employee benefits, risk management and insurance, sales and marketing, merchandising, inbound logistics, human resources, strategy and tax compliance services. the corporate office also makes available supply chain expertise, such as in warehousing and distribution services, which provide assistance in operational best practices, including space utilization, energy conservation, fleet management and work flow..
what was the percentage of sales to restaurants in 2018? | 0.62 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | part ii item 5. market for registrant 2019s common equity, related stockholder matters and issuer purchases of equity securities the following table presents reported quarterly high and low per share sale prices of our common stock on the new york stock exchange (201cnyse 201d) for the years 2008 and 2007..
2008 | high | low
quarter ended march 31 | $42.72 | $32.10
quarter ended june 30 | 46.10 | 38.53
quarter ended september 30 | 43.43 | 31.89
quarter ended december 31 | 37.28 | 19.35
2007 | high | low
quarter ended march 31 | $41.31 | $36.63
quarter ended june 30 | 43.84 | 37.64
quarter ended september 30 | 45.45 | 36.34
quarter ended december 31 | 46.53 | 40.08
on february 13, 2009, the closing price of our common stock was $28.85 per share as reported on the nyse. as of february 13, 2009, we had 397097677 outstanding shares of common stock and 499 registered holders. dividends we have never paid a dividend on our common stock. we anticipate that we may retain future earnings, if any, to fund the development and growth of our business. the indentures governing our 7.50% (7.50%) senior notes due 2012 (201c7.50% (201c7.50%) notes 201d) and our 7.125% (7.125%) senior notes due 2012 (201c7.125% (201c7.125%) notes 201d) may prohibit us from paying dividends to our stockholders unless we satisfy certain financial covenants. the loan agreement for our revolving credit facility and term loan, and the indentures governing the terms of our 7.50% (7.50%) notes and 7.125% (7.125%) notes contain covenants that restrict our ability to pay dividends unless certain financial covenants are satisfied. in addition, while spectrasite and its subsidiaries are classified as unrestricted subsidiaries under the indentures for our 7.50% (7.50%) notes and 7.125% (7.125%) notes, certain of spectrasite 2019s subsidiaries are subject to restrictions on the amount of cash that they can distribute to us under the loan agreement related to our securitization transaction. for more information about the restrictions under the loan agreement for the revolving credit facility and term loan, our notes indentures and the loan agreement related to our securitization transaction, see item 7 of this annual report under the caption 201cmanagement 2019s discussion and analysis of financial condition and results of operations 2014liquidity and capital resources 2014factors affecting sources of liquidity 201d and note 6 to our consolidated financial statements included in this annual report..
as of february 13, 2009, what was the average number of outstanding shares of common stock per registered holder? | 795786.92786 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | tissue pulp due to strong market demand, partic- ularly from asia. average sales price realizations improved significantly in 2007, principally reflecting higher average prices for softwood, hardwood and fluff pulp. operating earnings in 2007 were $104 mil- lion compared with $48 million in 2006 and $37 mil- lion in 2005. the benefits from higher sales price realizations were partially offset by increased input costs for energy, chemicals and freight. entering the first quarter of 2008, demand for market pulp remains strong, and average sales price realiza- tions should increase slightly. however, input costs for energy, chemicals and freight are expected to be higher, and increased spending is anticipated for planned mill maintenance outages. industrial packaging demand for industrial packaging products is closely correlated with non-durable industrial goods pro- duction, as well as with demand for processed foods, poultry, meat and agricultural products. in addition to prices and volumes, major factors affecting the profitability of industrial packaging are raw material and energy costs, freight costs, manufacturing effi- ciency and product mix. industrial packaging net sales for 2007 increased 6% (6%) to $5.2 billion compared with $4.9 bil- lion in 2006, and 13% (13%) compared with $4.6 billion in 2005. operating profits in 2007 were 26% (26%) higher than in 2006 and more than double 2005 earnings. bene- fits from improved price realizations ($147 million), sales volume increases net of increased lack of order downtime ($3 million), a more favorable mix ($31 million), strong mill and converting operations ($33 million) and other costs ($47 million) were partially offset by the effects of higher raw material costs ($76 million) and higher freight costs ($18 million). in addition, a gain of $13 million was recognized in 2006 related to a sale of property in spain and costs of $52 million were incurred in 2007 related to the conversion of the paper machine at pensacola to production of lightweight linerboard. the segment took 165000 tons of downtime in 2007 which included 16000 tons of market-related downtime compared with 135000 tons of downtime in 2006 of which none was market-related. industrial packaging in millions 2007 2006 2005.
in millions | 2007 | 2006 | 2005
sales | $5245 | $4925 | $4625
operating profit | $501 | $399 | $219
north american industrial packaging net sales for 2007 were $3.9 billion, compared with $3.7 billion in 2006 and $3.6 billion in 2005. operating profits in 2007 were $407 million, up from $327 mil- lion in 2006 and $170 million in 2005. containerboard shipments were higher in 2007 compared with 2006, including production from the paper machine at pensacola that was converted to lightweight linerboard during 2007. average sales price realizations were significantly higher than in 2006 reflecting price increases announced early in 2006 and in the third quarter of 2007. margins improved reflecting stronger export demand. manu- facturing performance was strong, although costs associated with planned mill maintenance outages were higher due to timing of outages. raw material costs for wood, energy, chemicals and recycled fiber increased significantly. operating results for 2007 were also unfavorably impacted by $52 million of costs associated with the conversion and startup of the pensacola paper machine. u.s. converting sales volumes were slightly lower in 2007 compared with 2006 reflecting softer customer box demand. earnings improvement in 2007 bene- fited from the realization of box price increases announced in early 2006 and late 2007. favorable manufacturing operations and higher sales prices for waste fiber more than offset significantly higher raw material and freight costs. looking ahead to the first quarter of 2008, sales volumes are expected to increase slightly, and results should benefit from a full-quarter impact of the price increases announced in the third quarter of 2007. however, additional mill maintenance outages are planned for the first quarter, and freight and input costs are expected to rise, particularly for wood and energy. manufacturing operations should be favorable compared with the fourth quarter. european industrial packaging net sales for 2007 were $1.1 billion, up from $1.0 billion in 2006 and $880 million in 2005. sales volumes were about flat as early stronger demand in the industrial segment weakened in the second half of the year. operating profits in 2007 were $88 million compared with $69 million in 2006 and $53 million in 2005. sales margins improved reflecting increased sales prices for boxes. conversion costs were favorable as the result of manufacturing improvement programs. entering the first quarter of 2008, sales volumes should be strong seasonally across all regions as the winter fruit and vegetable season continues. profit margins, however, are expected to be somewhat lower..
what is the value of european industrial packaging net sales for 2007 times 1000? 1100.0
what is that divided by total 2007 sales? | 0.20972 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | entergy corporation and subsidiaries management's financial discussion and analysis the decrease in interest income in 2002 was primarily due to: fffd interest recognized in 2001 on grand gulf 1's decommissioning trust funds resulting from the final order addressing system energy's rate proceeding; fffd interest recognized in 2001 at entergy mississippi and entergy new orleans on the deferred system energy costs that were not being recovered through rates; and fffd lower interest earned on declining deferred fuel balances. the decrease in interest charges in 2002 is primarily due to: fffd a decrease of $31.9 million in interest on long-term debt primarily due to the retirement of long-term debt in late 2001 and early 2002; and fffd a decrease of $76.0 million in other interest expense primarily due to interest recorded on system energy's reserve for rate refund in 2001. the refund was made in december 2001. 2001 compared to 2000 results for the year ended december 31, 2001 for u.s. utility were also affected by an increase in interest charges of $61.5 million primarily due to: fffd the final ferc order addressing the 1995 system energy rate filing; fffd debt issued at entergy arkansas in july 2001, at entergy gulf states in june 2000 and august 2001, at entergy mississippi in january 2001, and at entergy new orleans in july 2000 and february 2001; and fffd borrowings under credit facilities during 2001, primarily at entergy arkansas. non-utility nuclear the increase in earnings in 2002 for non-utility nuclear from $128 million to $201 million was primarily due to the operation of indian point 2 and vermont yankee, which were purchased in september 2001 and july 2002, respectively. the increase in earnings in 2001 for non-utility nuclear from $49 million to $128 million was primarily due to the operation of fitzpatrick and indian point 3 for a full year, as each was purchased in november 2000, and the operation of indian point 2, which was purchased in september 2001. following are key performance measures for non-utility nuclear:.
- | 2002 | 2001 | 2000
net mw in operation at december 31 | 3955 | 3445 | 2475
generation in gwh for the year | 29953 | 22614 | 7171
capacity factor for the year | 93% (93%) | 93% (93%) | 94% (94%)
2002 compared to 2001 the following fluctuations in the results of operations for non-utility nuclear in 2002 were primarily caused by the acquisitions of indian point 2 and vermont yankee (except as otherwise noted): fffd operating revenues increased $411.0 million to $1.2 billion; fffd other operation and maintenance expenses increased $201.8 million to $596.3 million; fffd depreciation and amortization expenses increased $25.1 million to $42.8 million; fffd fuel expenses increased $29.4 million to $105.2 million; fffd nuclear refueling outage expenses increased $23.9 million to $46.8 million, which was due primarily to a.
what is the value of earning for non-utility nuclear in 2002? 201.0
what is the 2001 value? 128.0
what is the net change? 73.0
what is the 2001 value? | 128.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | entergy corporation notes to consolidated financial statements (d) the bonds are subject to mandatory tender for purchase from the holders at 100% (100%) of the principal amount outstanding on october 1, 2003 and will then be remarketed. (e) on june 1, 2002, entergy louisiana remarketed $55 million st. charles parish pollution control revenue refunding bonds due 2030, resetting the interest rate to 4.9% (4.9%) through may 2005. (f) the bonds are subject to mandatory tender for purchase from the holders at 100% (100%) of the principal amount outstanding on june 1, 2005 and will then be remarketed. (g) the fair value excludes lease obligations, long-term doe obligations, and other long-term debt and includes debt due within one year. it is determined using bid prices reported by dealer markets and by nationally recognized investment banking firms. the annual long-term debt maturities (excluding lease obligations) and annual cash sinking fund requirements for debt outstanding as of december 31, 2002, for the next five years are as follows (in thousands):.
2003 | $1150786
2004 | $925005
2005 | $540372
2006 | $139952
2007 | $475288
not included are other sinking fund requirements of approximately $30.2 million annually, which may be satisfied by cash or by certification of property additions at the rate of 167% (167%) of such requirements. in december 2002, when the damhead creek project was sold, the buyer of the project assumed all obligations under the damhead creek credit facilities and the damhead creek interest rate swap agreements. in november 2000, entergy's non-utility nuclear business purchased the fitzpatrick and indian point 3 power plants in a seller-financed transaction. entergy issued notes to nypa with seven annual installments of approximately $108 million commencing one year from the date of the closing, and eight annual installments of $20 million commencing eight years from the date of the closing. these notes do not have a stated interest rate, but have an implicit interest rate of 4.8% (4.8%). in accordance with the purchase agreement with nypa, the purchase of indian point 2 resulted in entergy's non-utility nuclear business becoming liable to nypa for an additional $10 million per year for 10 years, beginning in september 2003. this liability was recorded upon the purchase of indian point 2 in september 2001. covenants in the entergy corporation 7.75% (7.75%) notes require it to maintain a consolidated debt ratio of 65% (65%) or less of its total capitalization. if entergy's debt ratio exceeds this limit, or if entergy or certain of the domestic utility companies default on other credit facilities or are in bankruptcy or insolvency proceedings, an acceleration of the facility's maturity may occur. in january 2003, entergy paid in full, at maturity, the outstanding debt relating to the top of iowa wind project. capital funds agreement pursuant to an agreement with certain creditors, entergy corporation has agreed to supply system energy with sufficient capital to: fffd maintain system energy's equity capital at a minimum of 35% (35%) of its total capitalization (excluding short-term debt); fffd permit the continued commercial operation of grand gulf 1; fffd pay in full all system energy indebtedness for borrowed money when due; and fffd enable system energy to make payments on specific system energy debt, under supplements to the agreement assigning system energy's rights in the agreement as security for the specific debt..
what were the total payments made for the notes entergy issued to nypa that lasted 7 years? 756.0
and the amount of the installment that was paid for eight years? 20.0
and the total amount of these installments? 160.0
combined, what was the sum of the notes entergy issued to nypa? | 916.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | table of contents notes to consolidated financial statements of american airlines group inc. information generated by market transactions involving comparable assets, as well as pricing guides and other sources. the current market for the aircraft, the maintenance condition of the aircraft and the expected proceeds from the sale of the assets, among other factors, were considered. the market approach was utilized to value certain intangible assets such as airport take off and landing slots when sufficient market information was available. the income approach was primarily used to value intangible assets, including customer relationships, marketing agreements, certain international route authorities, and the us airways tradename. the income approach indicates value for a subject asset based on the present value of cash flows projected to be generated by the asset. projected cash flows are discounted at a required market rate of return that reflects the relative risk of achieving the cash flows and the time value of money. the cost approach, which estimates value by determining the current cost of replacing an asset with another of equivalent economic utility, was used, as appropriate, for certain assets for which the market and income approaches could not be applied due to the nature of the asset. the cost to replace a given asset reflects the estimated reproduction or replacement cost for the asset, less an allowance for loss in value due to depreciation. the fair value of us airways 2019 dividend miles loyalty program liability was determined based on the weighted average equivalent ticket value of outstanding miles which were expected to be redeemed for future travel at december 9, 2013. the weighted average equivalent ticket value contemplates differing classes of service, domestic and international itineraries and the carrier providing the award travel. pro-forma impact of the merger the company 2019s unaudited pro-forma results presented below include the effects of the merger as if it had been consummated as of january 1, 2012. the pro-forma results include the depreciation and amortization associated with the acquired tangible and intangible assets, lease and debt fair value adjustments, the elimination of any deferred gains or losses, adjustments relating to reflecting the fair value of the loyalty program liability and the impact of income changes on profit sharing expense, among others. in addition, the pro-forma results below reflect the impact of higher wage rates related to memorandums of understanding with us airways 2019 pilots that became effective upon closing of the merger, as well as the elimination of the company 2019s reorganization items, net and merger transition costs. however, the pro-forma results do not include any anticipated synergies or other expected benefits of the merger. accordingly, the unaudited pro-forma financial information below is not necessarily indicative of either future results of operations or results that might have been achieved had the acquisition been consummated as of january 1, 2012. december 31, (in millions).
- | december 31 2013 (in millions)
revenue | $40678
net income | 2526
5. basis of presentation and summary of significant accounting policies (a) basis of presentation the consolidated financial statements for the full years of 2015 and 2014 and the period from december 9, 2013 to december 31, 2013 include the accounts of the company and its wholly-owned subsidiaries. for the periods prior to december 9, 2013, the consolidated financial statements do not include the accounts of us airways group. all significant intercompany transactions have been eliminated. the preparation of financial statements in accordance with accounting principles generally accepted in the united states (gaap) requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities, revenues and expenses, and the disclosure of contingent assets and liabilities at the date of the financial statements. actual results could differ from those estimates. the most significant areas.
what was revenue in 2013? 40678.0
what was net income? | 2526.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | the following graph compares the cumulative 5-year total return to shareholders of cadence design systems, inc. 2019s common stock relative to the cumulative total returns of the s & p 500 index, the nasdaq composite index and the s & p information technology index. the graph assumes that the value of the investment in the company 2019s common stock and in each of the indexes (including reinvestment of dividends) was $100 on december 29, 2001 and tracks it through december 30, 2006. comparison of 5 year cumulative total return* among cadence design systems, inc., the s & p 500 index, the nasdaq composite index and the s & p information technology index 12/30/0612/31/051/1/051/3/0412/28/0212/29/01 cadence design systems, inc. nasdaq composite s & p information technology s & p 500 * $100 invested on 12/29/01 in stock or on 12/31/01 in index-incuding reinvestment of dividends. indexes calculated on month-end basis. copyright b7 2007, standard & poor 2019s, a division of the mcgraw-hill companies, inc. all rights reserved. www.researchdatagroup.com/s&p.htm december 29, december 28, january 3, january 1, december 31, december 30.
- | december 29 2001 | december 28 2002 | january 3 2004 | january 1 2005 | december 31 2005 | december 30 2006
cadence design systems inc. | 100.00 | 54.38 | 81.52 | 61.65 | 75.54 | 79.96
s & p 500 | 100.00 | 77.90 | 100.24 | 111.15 | 116.61 | 135.03
nasdaq composite | 100.00 | 71.97 | 107.18 | 117.07 | 120.50 | 137.02
s & p information technology | 100.00 | 62.59 | 92.14 | 94.50 | 95.44 | 103.47
.
what is the value of cadence design systems in 2006 less 100? -20.04
what is that difference divided by 100? | -0.2004 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | entergy corporation and subsidiaries notes to financial statements (a) consists of pollution control revenue bonds and environmental revenue bonds, some of which are secured by collateral first mortgage bonds. (b) these notes do not have a stated interest rate, but have an implicit interest rate of 4.8% (4.8%). (c) pursuant to the nuclear waste policy act of 1982, entergy 2019s nuclear owner/licensee subsidiaries have contracts with the doe for spent nuclear fuel disposal service. the contracts include a one-time fee for generation prior to april 7, 1983. entergy arkansas is the only entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term (d) see note 10 to the financial statements for further discussion of the waterford 3 and grand gulf lease obligations. (e) the fair value excludes lease obligations of $149 million at entergy louisiana and $97 million at system energy, long-term doe obligations of $181 million at entergy arkansas, and the note payable to nypa of $95 million at entergy, and includes debt due within one year. fair values are classified as level 2 in the fair value hierarchy discussed in note 16 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. the annual long-term debt maturities (excluding lease obligations and long-term doe obligations) for debt outstanding as of december 31, 2013, for the next five years are as follows: amount (in thousands).
- | amount (in thousands)
2014 | $385373
2015 | $1110566
2016 | $270852
2017 | $766801
2018 | $1324616
in november 2000, entergy 2019s non-utility nuclear business purchased the fitzpatrick and indian point 3 power plants in a seller-financed transaction. entergy issued notes to nypa with seven annual installments of approximately $108 million commencing one year from the date of the closing, and eight annual installments of $20 million commencing eight years from the date of the closing. these notes do not have a stated interest rate, but have an implicit interest rate of 4.8% (4.8%). in accordance with the purchase agreement with nypa, the purchase of indian point 2 in 2001 resulted in entergy becoming liable to nypa for an additional $10 million per year for 10 years, beginning in september 2003. this liability was recorded upon the purchase of indian point 2 in september 2001. in july 2003 a payment of $102 million was made prior to maturity on the note payable to nypa. under a provision in a letter of credit supporting these notes, if certain of the utility operating companies or system energy were to default on other indebtedness, entergy could be required to post collateral to support the letter of credit. entergy gulf states louisiana, entergy louisiana, entergy mississippi, entergy texas, and system energy have obtained long-term financing authorizations from the ferc that extend through october 2015. entergy arkansas has obtained long-term financing authorization from the apsc that extends through december 2015. entergy new orleans has obtained long-term financing authorization from the city council that extends through july 2014. capital funds agreement pursuant to an agreement with certain creditors, entergy corporation has agreed to supply system energy with sufficient capital to: 2022 maintain system energy 2019s equity capital at a minimum of 35% (35%) of its total capitalization (excluding short- term debt);.
what is the amount of long-term debt due in 2014? | 385373.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | entergy texas, inc. and subsidiaries management 2019s financial discussion and analysis results of operations net income 2016 compared to 2015 net income increased $37.9 million primarily due to lower other operation and maintenance expenses, the asset write-off of its receivable associated with the spindletop gas storage facility in 2015, and higher net revenue. 2015 compared to 2014 net income decreased $5.2 million primarily due to the asset write-off of its receivable associated with the spindletop gas storage facility and higher other operation and maintenance expenses, partially offset by higher net revenue and a lower effective tax rate. net revenue 2016 compared to 2015 net revenue consists of operating revenues net of: 1) fuel, fuel-related expenses, and gas purchased for resale, 2) purchased power expenses, and 3) other regulatory charges. following is an analysis of the change in net revenue comparing 2016 to 2015. amount (in millions).
- | amount (in millions)
2015 net revenue | $637.2
reserve equalization | 14.3
purchased power capacity | 12.4
transmission revenue | 7.0
retail electric price | 5.4
net wholesale | -27.8 (27.8)
other | -4.3 (4.3)
2016 net revenue | $644.2
the reserve equalization variance is primarily due to a reduction in reserve equalization expense primarily due to changes in the entergy system generation mix compared to the same period in 2015 as a result of the execution of a new purchased power agreement and entergy mississippi 2019s exit from the system agreement, each in november 2015, and entergy texas 2019s exit from the system agreement in august 2016. see note 2 to the financial statements for a discussion of the system agreement. the purchased power capacity variance is primarily due to decreased expenses due to the termination of the purchased power agreements between entergy louisiana and entergy texas in august 2016, as well as capacity cost changes for ongoing purchased power capacity contracts. the transmission revenue variance is primarily due to an increase in attachment o rates charged by miso to transmission customers and a settlement of attachment o rates previously billed to transmission customers by miso..
what was the total value of both the reserve equalization and the purchased power capacity as a change in net revenue from 2015 to 2016, in millions? | 26.7 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | the analysis of our depreciation studies. changes in the estimated service lives of our assets and their related depreciation rates are implemented prospectively. under group depreciation, the historical cost (net of salvage) of depreciable property that is retired or replaced in the ordinary course of business is charged to accumulated depreciation and no gain or loss is recognized. the historical cost of certain track assets is estimated using (i) inflation indices published by the bureau of labor statistics and (ii) the estimated useful lives of the assets as determined by our depreciation studies. the indices were selected because they closely correlate with the major costs of the properties comprising the applicable track asset classes. because of the number of estimates inherent in the depreciation and retirement processes and because it is impossible to precisely estimate each of these variables until a group of property is completely retired, we continually monitor the estimated service lives of our assets and the accumulated depreciation associated with each asset class to ensure our depreciation rates are appropriate. in addition, we determine if the recorded amount of accumulated depreciation is deficient (or in excess) of the amount indicated by our depreciation studies. any deficiency (or excess) is amortized as a component of depreciation expense over the remaining service lives of the applicable classes of assets. for retirements of depreciable railroad properties that do not occur in the normal course of business, a gain or loss may be recognized if the retirement meets each of the following three conditions: (i) is unusual, (ii) is material in amount, and (iii) varies significantly from the retirement profile identified through our depreciation studies. a gain or loss is recognized in other income when we sell land or dispose of assets that are not part of our railroad operations. when we purchase an asset, we capitalize all costs necessary to make the asset ready for its intended use. however, many of our assets are self-constructed. a large portion of our capital expenditures is for replacement of existing track assets and other road properties, which is typically performed by our employees, and for track line expansion and other capacity projects. costs that are directly attributable to capital projects (including overhead costs) are capitalized. direct costs that are capitalized as part of self- constructed assets include material, labor, and work equipment. indirect costs are capitalized if they clearly relate to the construction of the asset. general and administrative expenditures are expensed as incurred. normal repairs and maintenance are also expensed as incurred, while costs incurred that extend the useful life of an asset, improve the safety of our operations or improve operating efficiency are capitalized. these costs are allocated using appropriate statistical bases. total expense for repairs and maintenance incurred was $2.4 billion for 2014, $2.3 billion for 2013, and $2.1 billion for 2012. assets held under capital leases are recorded at the lower of the net present value of the minimum lease payments or the fair value of the leased asset at the inception of the lease. amortization expense is computed using the straight-line method over the shorter of the estimated useful lives of the assets or the period of the related lease. 13. accounts payable and other current liabilities dec. 31, dec. 31, millions 2014 2013.
millions | dec. 31 2014 | dec. 312013
accounts payable | $877 | $803
dividends payable | 438 | 356
income and other taxes payable | 412 | 491
accrued wages and vacation | 409 | 385
accrued casualty costs | 249 | 207
interest payable | 178 | 169
equipment rents payable | 100 | 96
other | 640 | 579
total accounts payable and othercurrent liabilities | $3303 | $3086
.
what is the balance of total accounts payable and other current liabilities in 2014? 3303.0
what about in 2013? | 3086.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | entergy corporation and subsidiaries notes to financial statements (a) consists of pollution control revenue bonds and environmental revenue bonds, some of which are secured by collateral first mortgage bonds. (b) these notes do not have a stated interest rate, but have an implicit interest rate of 4.8% (4.8%). (c) pursuant to the nuclear waste policy act of 1982, entergy 2019s nuclear owner/licensee subsidiaries have contracts with the doe for spent nuclear fuel disposal service. the contracts include a one-time fee for generation prior to april 7, 1983. entergy arkansas is the only entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt. (d) see note 10 to the financial statements for further discussion of the waterford 3 and grand gulf lease obligations. (e) the fair value excludes lease obligations of $109 million at entergy louisiana and $34 million at system energy, long-term doe obligations of $181 million at entergy arkansas, and the note payable to nypa of $35 million at entergy, and includes debt due within one year. fair values are classified as level 2 in the fair value hierarchy discussed in note 16 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. the annual long-term debt maturities (excluding lease obligations and long-term doe obligations) for debt outstanding as of december 31, 2015, for the next five years are as follows: amount (in thousands).
- | amount (in thousands)
2016 | $204079
2017 | $766451
2018 | $822690
2019 | $768588
2020 | $1631181
in november 2000, entergy 2019s non-utility nuclear business purchased the fitzpatrick and indian point 3 power plants in a seller-financed transaction. entergy issued notes to nypa with seven annual installments of approximately $108 million commencing one year from the date of the closing, and eight annual installments of $20 million commencing eight years from the date of the closing. these notes do not have a stated interest rate, but have an implicit interest rate of 4.8% (4.8%). in accordance with the purchase agreement with nypa, the purchase of indian point 2 in 2001 resulted in entergy becoming liable to nypa for an additional $10 million per year for 10 years, beginning in september 2003. this liability was recorded upon the purchase of indian point 2 in september 2001. as part of the purchase agreement with nypa, entergy recorded a liability representing the net present value of the payments entergy would be liable to nypa for each year that the fitzpatrick and indian point 3 power plants would run beyond their respective original nrc license expiration date. with the planned shutdown of fitzpatrick at the end of its current fuel cycle, entergy reduced this liability by $26.4 million in 2015 pursuant to the terms of the purchase agreement. under a provision in a letter of credit supporting these notes, if certain of the utility operating companies or system energy were to default on other indebtedness, entergy could be required to post collateral to support the letter of credit. entergy louisiana, entergy mississippi, entergy texas, and system energy have obtained long-term financing authorizations from the ferc that extend through october 2017. entergy arkansas has obtained long-term financing authorization from the apsc that extends through december 2018. entergy new orleans has obtained long-term financing authorization from the city council that extends through july 2016. capital funds agreement pursuant to an agreement with certain creditors, entergy corporation has agreed to supply system energy with sufficient capital to:.
what was the amount of long-term debt maturities in 2018? | 822690.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | notes to consolidated financial statements 2013 (continued) (amounts in millions, except per share amounts) cash flows for 2010, we expect to contribute $25.2 and $9.2 to our foreign pension plans and domestic pension plans, respectively. a significant portion of our contributions to the foreign pension plans relate to the u.k. pension plan. additionally, we are in the process of modifying the schedule of employer contributions for the u.k. pension plan and we expect to finalize this during 2010. as a result, we expect our contributions to our foreign pension plans to increase from current levels in 2010 and subsequent years. during 2009, we contributed $31.9 to our foreign pension plans and contributions to the domestic pension plan were negligible. the following estimated future benefit payments, which reflect future service, as appropriate, are expected to be paid in the years indicated below. domestic pension plans foreign pension plans postretirement benefit plans.
years | domestic pension plans | foreign pension plans | postretirement benefit plans
2010 | $17.2 | $23.5 | $5.8
2011 | 11.1 | 24.7 | 5.7
2012 | 10.8 | 26.4 | 5.7
2013 | 10.5 | 28.2 | 5.6
2014 | 10.5 | 32.4 | 5.5
2015 2013 2019 | 48.5 | 175.3 | 24.8
the estimated future payments for our postretirement benefit plans are before any estimated federal subsidies expected to be received under the medicare prescription drug, improvement and modernization act of 2003. federal subsidies are estimated to range from $0.5 in 2010 to $0.6 in 2014 and are estimated to be $2.4 for the period 2015-2019. savings plans we sponsor defined contribution plans (the 201csavings plans 201d) that cover substantially all domestic employees. the savings plans permit participants to make contributions on a pre-tax and/or after-tax basis and allows participants to choose among various investment alternatives. we match a portion of participant contributions based upon their years of service. amounts expensed for the savings plans for 2009, 2008 and 2007 were $35.1, $29.6 and $31.4, respectively. expense includes a discretionary company contribution of $3.8, $4.0 and $4.9 offset by participant forfeitures of $2.7, $7.8, $6.0 in 2009, 2008 and 2007, respectively. in addition, we maintain defined contribution plans in various foreign countries and contributed $25.0, $28.7 and $26.7 to these plans in 2009, 2008 and 2007, respectively. deferred compensation and benefit arrangements we have deferred compensation arrangements which (i) permit certain of our key officers and employees to defer a portion of their salary or incentive compensation, or (ii) require us to contribute an amount to the participant 2019s account. the arrangements typically provide that the participant will receive the amounts deferred plus interest upon attaining certain conditions, such as completing a certain number of years of service or upon retirement or termination. as of december 31, 2009 and 2008, the deferred compensation liability balance was $100.3 and $107.6, respectively. amounts expensed for deferred compensation arrangements in 2009, 2008 and 2007 were $11.6, $5.7 and $11.9, respectively. we have deferred benefit arrangements with certain key officers and employees that provide participants with an annual payment, payable when the participant attains a certain age and after the participant 2019s employment has terminated. the deferred benefit liability was $178.2 and $182.1 as of december 31, 2009 and 2008, respectively. amounts expensed for deferred benefit arrangements in 2009, 2008 and 2007 were $12.0, $14.9 and $15.5, respectively. we have purchased life insurance policies on participants 2019 lives to assist in the funding of the related deferred compensation and deferred benefit liabilities. as of december 31, 2009 and 2008, the cash surrender value of these policies was $119.4 and $100.2, respectively. in addition to the life insurance policies, certain investments are held for the purpose of paying the deferred compensation and deferred benefit liabilities. these investments, along with the life insurance policies, are held in a separate revocable trust for the purpose of paying the deferred compensation and the deferred benefit.
how much was contributed to defined contribution plans for foreign countries in 2008? 28.7
how much was contributed in 2007? 26.7
what is the difference? 2.0
what was the 2007 value? | 26.7 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | impairment the following table presents net unrealized losses on securities available for sale as of december 31:.
(in millions) | 2011 | 2010
fair value | $99832 | $81881
amortized cost | 100013 | 82329
net unrealized loss pre-tax | $-181 (181) | $-448 (448)
net unrealized loss after-tax | $-113 (113) | $-270 (270)
the net unrealized amounts presented above excluded the remaining net unrealized losses related to reclassifications of securities available for sale to securities held to maturity. these unrealized losses related to reclassifications totaled $303 million, or $189 million after-tax, and $523 million, or $317 million after-tax, as of december 31, 2011 and 2010, respectively, and were recorded in accumulated other comprehensive income, or oci. refer to note 12 to the consolidated financial statements included under item 8. the decline in these remaining after-tax unrealized losses related to reclassifications from december 31, 2010 to december 31, 2011 resulted primarily from amortization. we conduct periodic reviews of individual securities to assess whether other-than-temporary impairment exists. to the extent that other-than-temporary impairment is identified, the impairment is broken into a credit component and a non-credit component. the credit component is recorded in our consolidated statement of income, and the non-credit component is recorded in oci to the extent that we do not intend to sell the security. our assessment of other-than-temporary impairment involves an evaluation, more fully described in note 3, of economic and security-specific factors. such factors are based on estimates, derived by management, which contemplate current market conditions and security-specific performance. to the extent that market conditions are worse than management 2019s expectations, other-than-temporary impairment could increase, in particular, the credit component that would be recorded in our consolidated statement of income. given the exposure of our investment securities portfolio, particularly mortgage- and asset-backed securities, to residential mortgage and other consumer credit risks, the performance of the u.s. housing market is a significant driver of the portfolio 2019s credit performance. as such, our assessment of other-than-temporary impairment relies to a significant extent on our estimates of trends in national housing prices. generally, indices that measure trends in national housing prices are published in arrears. as of september 30, 2011, national housing prices, according to the case-shiller national home price index, had declined by approximately 31.3% (31.3%) peak-to-current. overall, management 2019s expectation, for purposes of its evaluation of other-than-temporary impairment as of december 31, 2011, was that housing prices would decline by approximately 35% (35%) peak-to-trough. the performance of certain mortgage products and vintages of securities continues to deteriorate. in addition, management continues to believe that housing prices will decline further as indicated above. the combination of these factors has led to an increase in management 2019s overall loss expectations. our investment portfolio continues to be sensitive to management 2019s estimates of future cumulative losses. ultimately, other-than- temporary impairment is based on specific cusip-level detailed analysis of the unique characteristics of each security. in addition, we perform sensitivity analysis across each significant product type within the non-agency u.s. residential mortgage-backed portfolio. we estimate, for example, that other-than-temporary impairment of the investment portfolio could increase by approximately $10 million to $50 million, if national housing prices were to decline by 37% (37%) to 39% (39%) peak-to-trough, compared to management 2019s expectation of 35% (35%) described above. this sensitivity estimate is based on a number of factors, including, but not limited to, the level of housing prices and the timing of defaults. to the extent that such factors differ substantially from management 2019s current expectations, resulting loss estimates may differ materially from those stated. excluding the securities for which other-than-temporary impairment was recorded in 2011, management considers the aggregate decline in fair value of the remaining.
what was the fair value in 2011? 99832.0
what was it in 2010? 81881.0
what is the net change? 17951.0
what is the net change over the 2010 value? | 0.21923 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | abiomed, inc. and subsidiaries notes to consolidated financial statements 2014 (continued) note 14. income taxes (continued) on april 1, 2007, the company adopted financial interpretation fin no. 48, accounting for uncertainty in income taxes 2014an interpretation of fasb statement no. 109 (201cfin no. 48 201d), which clarifies the accounting for uncertainty in income taxes recognized in an enterprise 2019s financial statements in accordance with fasb statement no. 109, accounting for income taxes. fin no. 48 prescribes a recognition threshold and measurement process for recording in the financial statements uncertain tax positions taken or expected to be taken in a tax return. fin no. 48 also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition and defines the criteria that must be met for the benefits of a tax position to be recognized. as a result of its adoption of fin no. 48, the company recorded the cumulative effect of the change in accounting principle of $0.3 million as a decrease to opening retained earnings and an increase to other long-term liabilities as of april 1, 2007. this adjustment related to state nexus for failure to file tax returns in various states for the years ended march 31, 2003, 2004, and 2005. the company initiated a voluntary disclosure plan, which it completed in fiscal year 2009. the company elected to recognize interest and/or penalties related to income tax matters in income tax expense in its consolidated statements of operations. as of march 31, 2009, the company had remitted all outstanding amounts owed to each of the states in connection with the outstanding taxes owed at march 31, 2008. as such, the company had no fin no. 48 liability at march 31, 2009. on a quarterly basis, the company accrues for the effects of uncertain tax positions and the related potential penalties and interest. it is reasonably possible that the amount of the unrecognized tax benefit with respect to certain of the unrecognized tax positions will increase or decrease during the next 12 months; however, it is not expected that the change will have a significant effect on the company 2019s results of operations or financial position. a reconciliation of the beginning and ending balance of unrecognized tax benefits, excluding accrued interest recorded at march 31, 2009 (in thousands) is as follows:.
balance at march 31 2008 | $168
reductions for tax positions for closing of the applicable statute of limitations | -168 (168)
balance at march 31 2009 | $2014
the company and its subsidiaries are subject to u.s. federal income tax, as well as income tax of multiple state and foreign jurisdictions. the company has accumulated significant losses since its inception in 1981. all tax years remain subject to examination by major tax jurisdictions, including the federal government and the commonwealth of massachusetts. however, since the company has net operating loss and tax credit carry forwards which may be utilized in future years to offset taxable income, those years may also be subject to review by relevant taxing authorities if the carry forwards are utilized. note 15. commitments and contingencies the company 2019s acquisition of impella provided that abiomed was required to make contingent payments to impella 2019s former shareholders as follows: 2022 upon fda approval of the impella 2.5 device, a payment of $5583333 2022 upon fda approval of the impella 5.0 device, a payment of $5583333, and 2022 upon the sale of 1000 units of impella 2019s products worldwide, a payment of $5583334. the two milestones related to sales and fda approval of the impella 2.5 device were achieved and paid prior to march 31, 2009. in april 2009, the company received fda 510 (k) clearance of its impella 5.0 product, triggering an obligation to pay the milestone related to the impella 5.0 device. in may 2009, the company paid $1.8 million of this final milestone in cash and elected to pay the remaining amount through the issuance of approximately 664612 shares of common stock..
what was the contingent payments to impella 2019s former shareholders if impella 2.5 and impella 5.0 are approved? 11166666.0
and the payment amount if impella 2019s worldwide are approved? 5583334.0
combined, what would be paid to former shareholders if all targets are achieved? | 16750000.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | notes to consolidated financial statements 2013 (continued) (amounts in millions, except per share amounts) cash flows for 2010, we expect to contribute $25.2 and $9.2 to our foreign pension plans and domestic pension plans, respectively. a significant portion of our contributions to the foreign pension plans relate to the u.k. pension plan. additionally, we are in the process of modifying the schedule of employer contributions for the u.k. pension plan and we expect to finalize this during 2010. as a result, we expect our contributions to our foreign pension plans to increase from current levels in 2010 and subsequent years. during 2009, we contributed $31.9 to our foreign pension plans and contributions to the domestic pension plan were negligible. the following estimated future benefit payments, which reflect future service, as appropriate, are expected to be paid in the years indicated below. domestic pension plans foreign pension plans postretirement benefit plans.
years | domestic pension plans | foreign pension plans | postretirement benefit plans
2010 | $17.2 | $23.5 | $5.8
2011 | 11.1 | 24.7 | 5.7
2012 | 10.8 | 26.4 | 5.7
2013 | 10.5 | 28.2 | 5.6
2014 | 10.5 | 32.4 | 5.5
2015 2013 2019 | 48.5 | 175.3 | 24.8
the estimated future payments for our postretirement benefit plans are before any estimated federal subsidies expected to be received under the medicare prescription drug, improvement and modernization act of 2003. federal subsidies are estimated to range from $0.5 in 2010 to $0.6 in 2014 and are estimated to be $2.4 for the period 2015-2019. savings plans we sponsor defined contribution plans (the 201csavings plans 201d) that cover substantially all domestic employees. the savings plans permit participants to make contributions on a pre-tax and/or after-tax basis and allows participants to choose among various investment alternatives. we match a portion of participant contributions based upon their years of service. amounts expensed for the savings plans for 2009, 2008 and 2007 were $35.1, $29.6 and $31.4, respectively. expense includes a discretionary company contribution of $3.8, $4.0 and $4.9 offset by participant forfeitures of $2.7, $7.8, $6.0 in 2009, 2008 and 2007, respectively. in addition, we maintain defined contribution plans in various foreign countries and contributed $25.0, $28.7 and $26.7 to these plans in 2009, 2008 and 2007, respectively. deferred compensation and benefit arrangements we have deferred compensation arrangements which (i) permit certain of our key officers and employees to defer a portion of their salary or incentive compensation, or (ii) require us to contribute an amount to the participant 2019s account. the arrangements typically provide that the participant will receive the amounts deferred plus interest upon attaining certain conditions, such as completing a certain number of years of service or upon retirement or termination. as of december 31, 2009 and 2008, the deferred compensation liability balance was $100.3 and $107.6, respectively. amounts expensed for deferred compensation arrangements in 2009, 2008 and 2007 were $11.6, $5.7 and $11.9, respectively. we have deferred benefit arrangements with certain key officers and employees that provide participants with an annual payment, payable when the participant attains a certain age and after the participant 2019s employment has terminated. the deferred benefit liability was $178.2 and $182.1 as of december 31, 2009 and 2008, respectively. amounts expensed for deferred benefit arrangements in 2009, 2008 and 2007 were $12.0, $14.9 and $15.5, respectively. we have purchased life insurance policies on participants 2019 lives to assist in the funding of the related deferred compensation and deferred benefit liabilities. as of december 31, 2009 and 2008, the cash surrender value of these policies was $119.4 and $100.2, respectively. in addition to the life insurance policies, certain investments are held for the purpose of paying the deferred compensation and deferred benefit liabilities. these investments, along with the life insurance policies, are held in a separate revocable trust for the purpose of paying the deferred compensation and the deferred benefit.
what is the ratio of discretionary company contributions to total expensed amounts for savings plans in 2009? 0.10826
what is that times 100? | 10.82621 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | we have adequate access to capital markets to meet any foreseeable cash requirements, and we have sufficient financial capacity to satisfy our current liabilities. cash flows millions 2014 2013 2012.
cash flowsmillions | 2014 | 2013 | 2012
cash provided by operating activities | $7385 | $6823 | $6161
cash used in investing activities | -4249 (4249) | -3405 (3405) | -3633 (3633)
cash used in financing activities | -2982 (2982) | -3049 (3049) | -2682 (2682)
net change in cash and cashequivalents | $154 | $369 | $-154 (154)
operating activities higher net income in 2014 increased cash provided by operating activities compared to 2013, despite higher income tax payments. 2014 income tax payments were higher than 2013 primarily due to higher income, but also because we paid taxes previously deferred by bonus depreciation (discussed below). higher net income in 2013 increased cash provided by operating activities compared to 2012. in addition, we made payments in 2012 for past wages as a result of national labor negotiations, which reduced cash provided by operating activities in 2012. lower tax benefits from bonus depreciation (as discussed below) partially offset the increases. federal tax law provided for 100% (100%) bonus depreciation for qualified investments made during 2011 and 50% (50%) bonus depreciation for qualified investments made during 2012-2013. as a result, the company deferred a substantial portion of its 2011-2013 income tax expense, contributing to the positive operating cash flow in those years. congress extended 50% (50%) bonus depreciation for 2014, but this extension occurred in december and did not have a significant benefit on our income tax payments during 2014. investing activities higher capital investments, including the early buyout of the long-term operating lease of our headquarters building for approximately $261 million, drove the increase in cash used in investing activities compared to 2013. significant investments also were made for new locomotives, freight cars and containers, and capacity and commercial facility projects. capital investments in 2014 also included $99 million for the early buyout of locomotives and freight cars under long-term operating leases, which we exercised due to favorable economic terms and market conditions. lower capital investments in locomotives and freight cars in 2013 drove the decrease in cash used in investing activities compared to 2012. included in capital investments in 2012 was $75 million for the early buyout of 165 locomotives under long-term operating and capital leases during the first quarter of 2012, which we exercised due to favorable economic terms and market conditions..
what was the cash provided by operating activities in 2013? 6823.0
and in 2012? 6161.0
so what was the difference in this value between the years? 662.0
and the value for 2012 again? 6161.0
so what was the percentage change during this time? | 0.10745 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | net revenues include $3.8 billion in 2017 and $739 million in 2016 related to the sale of rrps, mainly driven by japan. these net revenue amounts include excise taxes billed to customers. excluding excise taxes, net revenues for rrps were $3.6 billion in 2017 and $733 million in 2016. in some jurisdictions, including japan, we are not responsible for collecting excise taxes. in 2017, approximately $0.9 billion of our $3.6 billion in rrp net revenues, excluding excise taxes, were from iqos devices and accessories. excise taxes on products increased by $1.1 billion, due to: 2022 higher excise taxes resulting from changes in retail prices and tax rates ($4.6 billion), partially offset by 2022 favorable currency ($1.9 billion) and 2022 lower excise taxes resulting from volume/mix ($1.6 billion). our cost of sales; marketing, administration and research costs; and operating income were as follows: for the years ended december 31, variance.
(in millions) | for the years ended december 31, 2017 | for the years ended december 31, 2016 | for the years ended december 31, $|% (%)
cost of sales | $10432 | $9391 | $1041 | 11.1% (11.1%)
marketing administration and research costs | 6725 | 6405 | 320 | 5.0% (5.0%)
operating income | 11503 | 10815 | 688 | 6.4% (6.4%)
cost of sales increased by $1.0 billion, due to: 2022 higher cost of sales resulting from volume/mix ($1.1 billion), partly offset by 2022 lower manufacturing costs ($36 million) and 2022 favorable currency ($30 million). marketing, administration and research costs increased by $320 million, due to: 2022 higher expenses ($570 million, largely reflecting increased investment behind reduced-risk products, predominately in the european union and asia), partly offset by 2022 favorable currency ($250 million). operating income increased by $688 million, due primarily to: 2022 price increases ($1.4 billion), partly offset by 2022 higher marketing, administration and research costs ($570 million) and 2022 unfavorable currency ($157 million). interest expense, net, of $914 million increased by $23 million, due primarily to unfavorably currency and higher average debt levels, partly offset by higher interest income. our effective tax rate increased by 12.8 percentage points to 40.7% (40.7%). the 2017 effective tax rate was unfavorably impacted by $1.6 billion due to the tax cuts and jobs act. for further details, see item 8, note 11. income taxes to our consolidated financial statements. we are continuing to evaluate the impact that the tax cuts and jobs act will have on our tax liability. based upon our current interpretation of the tax cuts and jobs act, we estimate that our 2018 effective tax rate will be approximately 28% (28%), subject to future regulatory developments and earnings mix by taxing jurisdiction. we are regularly examined by tax authorities around the world, and we are currently under examination in a number of jurisdictions. it is reasonably possible that within the next 12 months certain tax examinations will close, which could result in a change in unrecognized tax benefits along with related interest and penalties. an estimate of any possible change cannot be made at this time. net earnings attributable to pmi of $6.0 billion decreased by $932 million (13.4% (13.4%)). this decrease was due primarily to a higher effective tax rate as discussed above, partly offset by higher operating income. diluted and basic eps of $3.88 decreased by 13.4% (13.4%). excluding.
what was, in millions, the operating income in 2017? | 11503.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | are allocated using appropriate statistical bases. total expense for repairs and maintenance incurred was $2.2 billion for 2011, $2.0 billion for 2010, and $1.9 billion for 2009. assets held under capital leases are recorded at the lower of the net present value of the minimum lease payments or the fair value of the leased asset at the inception of the lease. amortization expense is computed using the straight-line method over the shorter of the estimated useful lives of the assets or the period of the related lease. 12. accounts payable and other current liabilities dec. 31, dec. 31, millions 2011 2010.
millions | dec. 31 2011 | dec. 31 2010
accounts payable | $819 | $677
income and other taxes | 482 | 337
accrued wages and vacation | 363 | 357
dividends payable | 284 | 183
accrued casualty costs | 249 | 325
interest payable | 197 | 200
equipment rents payable | 90 | 86
other | 624 | 548
total accounts payable and othercurrent liabilities | $3108 | $2713
13. financial instruments strategy and risk 2013 we may use derivative financial instruments in limited instances for other than trading purposes to assist in managing our overall exposure to fluctuations in interest rates and fuel prices. we are not a party to leveraged derivatives and, by policy, do not use derivative financial instruments for speculative purposes. derivative financial instruments qualifying for hedge accounting must maintain a specified level of effectiveness between the hedging instrument and the item being hedged, both at inception and throughout the hedged period. we formally document the nature and relationships between the hedging instruments and hedged items at inception, as well as our risk- management objectives, strategies for undertaking the various hedge transactions, and method of assessing hedge effectiveness. changes in the fair market value of derivative financial instruments that do not qualify for hedge accounting are charged to earnings. we may use swaps, collars, futures, and/or forward contracts to mitigate the risk of adverse movements in interest rates and fuel prices; however, the use of these derivative financial instruments may limit future benefits from favorable interest rate and fuel price movements. market and credit risk 2013 we address market risk related to derivative financial instruments by selecting instruments with value fluctuations that highly correlate with the underlying hedged item. we manage credit risk related to derivative financial instruments, which is minimal, by requiring high credit standards for counterparties and periodic settlements. at december 31, 2011 and 2010, we were not required to provide collateral, nor had we received collateral, relating to our hedging activities. determination of fair value 2013 we determine the fair values of our derivative financial instrument positions based upon current fair values as quoted by recognized dealers or the present value of expected future cash flows. interest rate fair value hedges 2013 we manage our overall exposure to fluctuations in interest rates by adjusting the proportion of fixed and floating rate debt instruments within our debt portfolio over a given period. we generally manage the mix of fixed and floating rate debt through the issuance of targeted amounts of each as debt matures or as we require incremental borrowings. we employ derivatives, primarily swaps, as one of the tools to obtain the targeted mix. in addition, we also obtain flexibility in managing interest costs and the interest rate mix within our debt portfolio by evaluating the issuance of and managing outstanding callable fixed-rate debt securities. swaps allow us to convert debt from fixed rates to variable rates and thereby hedge the risk of changes in the debt 2019s fair value attributable to the changes in interest rates. we account for swaps as fair value.
what was the total expense for repairs and maintenance incurred in 2011? | 2200.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | entergy corporation notes to consolidated financial statements (a) consists of pollution control revenue bonds and environmental revenue bonds, certain series of which are secured by non-interest bearing first mortgage bonds. (b) the bonds are subject to mandatory tender for purchase from the holders at 100% (100%) of the principal amount outstanding on september 1, 2005 and can then be remarketed. (c) the bonds are subject to mandatory tender for purchase from the holders at 100% (100%) of the principal amount outstanding on september 1, 2004 and can then be remarketed. (d) the bonds had a mandatory tender date of october 1, 2003. entergy louisiana purchased the bonds from the holders, pursuant to the mandatory tender provision, and has not remarketed the bonds at this time. entergy louisiana used a combination of cash on hand and short-term borrowing to buy-in the bonds. (e) on june 1, 2002, entergy louisiana remarketed $55 million st. charles parish pollution control revenue refunding bonds due 2030, resetting the interest rate to 4.9% (4.9%) through may 2005. (f) the bonds are subject to mandatory tender for purchase from the holders at 100% (100%) of the principal amount outstanding on june 1, 2005 and can then be remarketed. (g) pursuant to the nuclear waste policy act of 1982, entergy's nuclear owner/licensee subsidiaries have contracts with the doe for spent nuclear fuel disposal service. the contracts include a one-time fee for generation prior to april 7, 1983. entergy arkansas is the only entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term (h) the fair value excludes lease obligations, long-term doe obligations, and other long-term debt and includes debt due within one year. it is determined using bid prices reported by dealer markets and by nationally recognized investment banking firms. the annual long-term debt maturities (excluding lease obligations) for debt outstanding as of december 31, 2003, for the next five years are as follows:.
- | (in thousands)
2004 | $503215
2005 | $462420
2006 | $75896
2007 | $624539
2008 | $941625
in november 2000, entergy's non-utility nuclear business purchased the fitzpatrick and indian point 3 power plants in a seller-financed transaction. entergy issued notes to nypa with seven annual installments of approximately $108 million commencing one year from the date of the closing, and eight annual installments of $20 million commencing eight years from the date of the closing. these notes do not have a stated interest rate, but have an implicit interest rate of 4.8% (4.8%). in accordance with the purchase agreement with nypa, the purchase of indian point 2 resulted in entergy's non-utility nuclear business becoming liable to nypa for an additional $10 million per year for 10 years, beginning in september 2003. this liability was recorded upon the purchase of indian point 2 in september 2001, and is included in the note payable to nypa balance above. in july 2003, a payment of $102 million was made prior to maturity on the note payable to nypa. under a provision in a letter of credit supporting these notes, if certain of the domestic utility companies or system energy were to default on other indebtedness, entergy could be required to post collateral to support the letter of credit. covenants in the entergy corporation notes require it to maintain a consolidated debt ratio of 65% (65%) or less of its total capitalization. if entergy's debt ratio exceeds this limit, or if entergy or certain of the domestic utility companies default on other indebtedness or are in bankruptcy or insolvency proceedings, an acceleration of the notes' maturity dates may occur..
what is the sum of long-term debt due in 2004 and 2005? 965635.0
what is the value for 2006? 75896.0
what is the total sum including all 3 years? | 1041531.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | credit facility, which was amended in 2013 and 2012. in march 2014, the company 2019s credit facility was further amended to extend the maturity date to march 2019. the amount of the aggregate commitment is $3.990 billion (the 201c2014 credit facility 201d). the 2014 credit facility permits the company to request up to an additional $1.0 billion of borrowing capacity, subject to lender credit approval, increasing the overall size of the 2014 credit facility to an aggregate principal amount not to exceed $4.990 billion. interest on borrowings outstanding accrues at a rate based on the applicable london interbank offered rate plus a spread. the 2014 credit facility requires the company not to exceed a maximum leverage ratio (ratio of net debt to earnings before interest, taxes, depreciation and amortization, where net debt equals total debt less unrestricted cash) of 3 to 1, which was satisfied with a ratio of less than 1 to 1 at december 31, 2014. the 2014 credit facility provides back-up liquidity, funds ongoing working capital for general corporate purposes and funds various investment opportunities. at december 31, 2014, the company had no amount outstanding under the 2014 credit facility. commercial paper program. on october 14, 2009, blackrock established a commercial paper program (the 201ccp program 201d) under which the company could issue unsecured commercial paper notes (the 201ccp notes 201d) on a private placement basis up to a maximum aggregate amount outstanding at any time of $3.0 billion. blackrock increased the maximum aggregate amount that could be borrowed under the cp program to $3.5 billion in 2011 and to $3.785 billion in 2012. in april 2013, blackrock increased the maximum aggregate amount for which the company could issue unsecured cp notes on a private-placement basis up to a maximum aggregate amount outstanding at any time of $3.990 billion. the cp program is currently supported by the 2014 credit facility. at december 31, 2014, blackrock had no cp notes outstanding. long-term borrowings the carrying value and fair value of long-term borrowings estimated using market prices at december 31, 2014 included the following: (in millions) maturity amount unamortized discount carrying value fair value.
(in millions) | maturity amount | unamortized discount | carrying value | fair value
1.375% (1.375%) notes due 2015 | $750 | $2014 | $750 | $753
6.25% (6.25%) notes due 2017 | 700 | -1 (1) | 699 | 785
5.00% (5.00%) notes due 2019 | 1000 | -2 (2) | 998 | 1134
4.25% (4.25%) notes due 2021 | 750 | -3 (3) | 747 | 825
3.375% (3.375%) notes due 2022 | 750 | -3 (3) | 747 | 783
3.50% (3.50%) notes due 2024 | 1000 | -3 (3) | 997 | 1029
total long-term borrowings | $4950 | $-12 (12) | $4938 | $5309
long-term borrowings at december 31, 2013 had a carrying value of $4.939 billion and a fair value of $5.284 billion determined using market prices at the end of december 2013. 2024 notes. in march 2014, the company issued $1.0 billion in aggregate principal amount of 3.50% (3.50%) senior unsecured and unsubordinated notes maturing on march 18, 2024 (the 201c2024 notes 201d). the net proceeds of the 2024 notes were used to refinance certain indebtedness which matured in the fourth quarter of 2014. interest is payable semi-annually in arrears on march 18 and september 18 of each year, or approximately $35 million per year. the 2024 notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price. the 2024 notes were issued at a discount of $3 million that is being amortized over the term of the notes. the company incurred approximately $6 million of debt issuance costs, which are being amortized over the term of the 2024 notes. at december 31, 2014, $6 million of unamortized debt issuance costs was included in other assets on the consolidated statement of financial condition. 2015 and 2022 notes. in may 2012, the company issued $1.5 billion in aggregate principal amount of unsecured unsubordinated obligations. these notes were issued as two separate series of senior debt securities, including $750 million of 1.375% (1.375%) notes maturing in june 2015 (the 201c2015 notes 201d) and $750 million of 3.375% (3.375%) notes maturing in june 2022 (the 201c2022 notes 201d). net proceeds were used to fund the repurchase of blackrock 2019s common stock and series b preferred from barclays and affiliates and for general corporate purposes. interest on the 2015 notes and the 2022 notes of approximately $10 million and $25 million per year, respectively, is payable semi-annually on june 1 and december 1 of each year, which commenced december 1, 2012. the 2015 notes and 2022 notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price. the 201cmake-whole 201d redemption price represents a price, subject to the specific terms of the 2015 and 2022 notes and related indenture, that is the greater of (a) par value and (b) the present value of future payments that will not be paid because of an early redemption, which is discounted at a fixed spread over a comparable treasury security. the 2015 notes and 2022 notes were issued at a discount of $5 million that is being amortized over the term of the notes. the company incurred approximately $7 million of debt issuance costs, which are being amortized over the respective terms of the 2015 notes and 2022 notes. at december 31, 2014, $4 million of unamortized debt issuance costs was included in other assets on the consolidated statement of financial condition. 2021 notes. in may 2011, the company issued $1.5 billion in aggregate principal amount of unsecured unsubordinated obligations. these notes were issued as two separate series of senior debt securities, including $750 million of 4.25% (4.25%) notes maturing in may 2021 and $750 million of floating rate notes (201c2013 floating rate notes 201d), which were repaid in may 2013 at maturity. net proceeds of this offering were used to fund the repurchase of blackrock 2019s series b preferred from affiliates of merrill lynch & co., inc. (201cmerrill lynch 201d). interest.
what's the portion of fair value to carrying value? 1.07513
so what percentage higher is fair value than carrying value? 0.07513
what is the fair value of all notes due in 2015 and 2017? | 1538.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | amortized over a nine-year period beginning december 2015. see note 2 to the financial statements for further discussion of the business combination and customer credits. the volume/weather variance is primarily due to the effect of more favorable weather during the unbilled period and an increase in industrial usage, partially offset by the effect of less favorable weather on residential sales. the increase in industrial usage is primarily due to expansion projects, primarily in the chemicals industry, and increased demand from new customers, primarily in the industrial gases industry. the louisiana act 55 financing savings obligation variance results from a regulatory charge for tax savings to be shared with customers per an agreement approved by the lpsc. the tax savings resulted from the 2010-2011 irs audit settlement on the treatment of the louisiana act 55 financing of storm costs for hurricane gustav and hurricane ike. see note 3 to the financial statements for additional discussion of the settlement and benefit sharing. included in other is a provision of $23 million recorded in 2016 related to the settlement of the waterford 3 replacement steam generator prudence review proceeding, offset by a provision of $32 million recorded in 2015 related to the uncertainty at that time associated with the resolution of the waterford 3 replacement steam generator prudence review proceeding. a0 see note 2 to the financial statements for a discussion of the waterford 3 replacement steam generator prudence review proceeding. entergy wholesale commodities following is an analysis of the change in net revenue comparing 2016 to 2015. amount (in millions).
- | amount (in millions)
2015 net revenue | $1666
nuclear realized price changes | -149 (149)
rhode island state energy center | -44 (44)
nuclear volume | -36 (36)
fitzpatrick reimbursement agreement | 41
nuclear fuel expenses | 68
other | -4 (4)
2016 net revenue | $1542
as shown in the table above, net revenue for entergy wholesale commodities decreased by approximately $124 million in 2016 primarily due to: 2022 lower realized wholesale energy prices and lower capacity prices, the amortization of the palisades below- market ppa, and vermont yankee capacity revenue. the effect of the amortization of the palisades below- market ppa and vermont yankee capacity revenue on the net revenue variance from 2015 to 2016 is minimal; 2022 the sale of the rhode island state energy center in december 2015. see note 14 to the financial statements for further discussion of the rhode island state energy center sale; and 2022 lower volume in the entergy wholesale commodities nuclear fleet resulting from more refueling outage days in 2016 as compared to 2015 and larger exercise of resupply options in 2016 as compared to 2015. see 201cnuclear matters - indian point 201d below for discussion of the extended indian point 2 outage in the second quarter entergy corporation and subsidiaries management 2019s financial discussion and analysis.
what was the 2016 net revenue? | 1542.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | performance graph comparison of five-year cumulative total return the following graph and table compare the cumulative total return on citi 2019s common stock, which is listed on the nyse under the ticker symbol 201cc 201d and held by 65691 common stockholders of record as of january 31, 2018, with the cumulative total return of the s&p 500 index and the s&p financial index over the five-year period through december 31, 2017. the graph and table assume that $100 was invested on december 31, 2012 in citi 2019s common stock, the s&p 500 index and the s&p financial index, and that all dividends were reinvested. comparison of five-year cumulative total return for the years ended date citi s&p 500 financials.
date | citi | s&p 500 | s&p financials
31-dec-2012 | 100.0 | 100.0 | 100.0
31-dec-2013 | 131.8 | 132.4 | 135.6
31-dec-2014 | 137.0 | 150.5 | 156.2
31-dec-2015 | 131.4 | 152.6 | 153.9
31-dec-2016 | 152.3 | 170.8 | 188.9
31-dec-2017 | 193.5 | 208.1 | 230.9
.
what is the value of citi common stock in 2017 less an initial $100 investment? 93.5
what is that divided by 100? | 0.935 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | stockholder return performance graphs the following graph compares the cumulative 5-year total stockholder return on our common stock relative to the cumulative total return of the nasdaq composite index and the s&p 400 information technology index. the graph assumes that the value of the investment in our common stock and in each index (including reinvestment of dividends) was $100 on december 29, 2007 and tracks it through december 29, 2012. comparison of 5 year cumulative total return* among cadence design systems, inc., the nasdaq composite index, and s&p 400 information technology cadence design systems, inc. nasdaq composite s&p 400 information technology 12/29/1212/31/111/1/111/2/101/3/0912/29/07 *$100 invested on 12/29/07 in stock or 12/31/07 in index, including reinvestment of dividends. indexes calculated on month-end basis. copyright a9 2013 s&p, a division of the mcgraw-hill companies inc. all rights reserved..
- | 12/29/2007 | 1/3/2009 | 1/2/2010 | 1/1/2011 | 12/31/2011 | 12/29/2012
cadence design systems inc. | 100.00 | 22.55 | 35.17 | 48.50 | 61.07 | 78.92
nasdaq composite | 100.00 | 59.03 | 82.25 | 97.32 | 98.63 | 110.78
s&p 400 information technology | 100.00 | 54.60 | 82.76 | 108.11 | 95.48 | 109.88
the stock price performance included in this graph is not necessarily indicative of future stock price performance.
what is the difference of the price of cadence design from 2007 to 2012? -21.08
what is that divided by 100? | -0.2108 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | (in millions) 2010 2009 2008.
(in millions) | 2010 | 2009 | 2008
net cash provided by operating activities | $3547 | $3173 | $4421
net cash used for investing activities | -319 (319) | -1518 (1518) | -907 (907)
net cash used for financing activities | -3363 (3363) | -1476 (1476) | -3938 (3938)
operating activities net cash provided by operating activities increased by $374 million to $3547 million in 2010 as compared to 2009. the increase primarily was attributable to an improvement in our operating working capital balances of $570 million as discussed below, and $187 million related to lower net income tax payments, as compared to 2009. partially offsetting these improvements was a net reduction in cash from operations of $350 million related to our defined benefit pension plan. this reduction was the result of increased contributions to the pension trust of $758 million as compared to 2009, partially offset by an increase in the cas costs recovered on our contracts. operating working capital accounts consists of receivables, inventories, accounts payable, and customer advances and amounts in excess of costs incurred. the improvement in cash provided by operating working capital was due to a decline in 2010 accounts receivable balances compared to 2009, and an increase in 2010 customer advances and amounts in excess of costs incurred balances compared to 2009. these improvements partially were offset by a decline in accounts payable balances in 2010 compared to 2009. the decline in accounts receivable primarily was due to higher collections on various programs at electronic systems, is&gs, and space systems business areas. the increase in customer advances and amounts in excess of costs incurred primarily was attributable to an increase on government and commercial satellite programs at space systems and air mobility programs at aeronautics, partially offset by a decrease on various programs at electronic systems. the decrease in accounts payable was attributable to the timing of accounts payable activities across all segments. net cash provided by operating activities decreased by $1248 million to $3173 million in 2009 as compared to 2008. the decline primarily was attributable to an increase in our contributions to the defined benefit pension plan of $1373 million as compared to 2008 and an increase in our operating working capital accounts of $147 million. partially offsetting these items was the impact of lower net income tax payments in 2009 as compared to 2008 in the amount of $319 million. the decline in cash provided by operating working capital primarily was due to growth of receivables on various programs in the ms2 and gt&l lines of business at electronic systems and an increase in inventories on combat aircraft programs at aeronautics, which partially were offset by increases in customer advances and amounts in excess of costs incurred on government satellite programs at space systems and the timing of accounts payable activities. investing activities capital expenditures 2013 the majority of our capital expenditures relate to facilities infrastructure and equipment that are incurred to support new and existing programs across all of our business segments. we also incur capital expenditures for it to support programs and general enterprise it infrastructure. capital expenditures for property, plant and equipment amounted to $820 million in 2010, $852 million in 2009, and $926 million in 2008. we expect that our operating cash flows will continue to be sufficient to fund our annual capital expenditures over the next few years. acquisitions, divestitures and other activities 2013 acquisition activities include both the acquisition of businesses and investments in affiliates. amounts paid in 2010 of $148 million primarily related to investments in affiliates. we paid $435 million in 2009 for acquisition activities, compared with $233 million in 2008. in 2010, we received proceeds of $798 million from the sale of eig, net of $17 million in transaction costs (see note 2). there were no material divestiture activities in 2009 and 2008. during 2010, we increased our short-term investments by $171 million compared to an increase of $279 million in 2009. financing activities share activity and dividends 2013 during 2010, 2009, and 2008, we repurchased 33.0 million, 24.9 million, and 29.0 million shares of our common stock for $2483 million, $1851 million, and $2931 million. of the shares we repurchased in 2010, 0.9 million shares for $63 million were repurchased in december but settled and were paid for in january 2011. in october 2010, our board of directors approved a new share repurchase program for the repurchase of our common stock from time-to-time, up to an authorized amount of $3.0 billion (see note 12). under the program, we have discretion to determine the dollar amount of shares to be repurchased and the timing of any repurchases in compliance with applicable law and regulation. we repurchased a total of 11.2 million shares under the program for $776 million, and as of december 31, 2010, there remained $2224 million available for additional share repurchases. in connection with their approval of the new share repurchase program, our board terminated our previous share repurchase program. cash received from the issuance of our common stock in connection with stock option exercises during 2010, 2009, and 2008 totaled $59 million, $40 million, and $250 million. those activities resulted in the issuance of 1.4 million shares, 1.0 million shares, and 4.7 million shares during the respective periods..
what is the net cash from operating and investing activities? 3228.0
what is the net cash from financing activities? -3363.0
what is the total net cash flow? | -135.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | part ii item 5. market for registrant 2019s common equity, related stockholder matters and issuer purchases of equity securities the following table presents reported quarterly high and low per share sale prices of our common stock on the new york stock exchange (201cnyse 201d) for the years 2010 and 2009..
2010 | high | low
quarter ended march 31 | $44.61 | $40.10
quarter ended june 30 | 45.33 | 38.86
quarter ended september 30 | 52.11 | 43.70
quarter ended december 31 | 53.14 | 49.61
2009 | high | low
quarter ended march 31 | $32.53 | $25.45
quarter ended june 30 | 34.52 | 27.93
quarter ended september 30 | 37.71 | 29.89
quarter ended december 31 | 43.84 | 35.03
on february 11, 2011, the closing price of our common stock was $56.73 per share as reported on the nyse. as of february 11, 2011, we had 397612895 outstanding shares of common stock and 463 registered holders. dividends we have not historically paid a dividend on our common stock. payment of dividends in the future, when, as and if authorized by our board of directors, would depend upon many factors, including our earnings and financial condition, restrictions under applicable law and our current and future loan agreements, our debt service requirements, our capital expenditure requirements and other factors that our board of directors may deem relevant from time to time, including the potential determination to elect reit status. in addition, the loan agreement for our revolving credit facility and term loan contain covenants that generally restrict our ability to pay dividends unless certain financial covenants are satisfied. for more information about the restrictions under the loan agreement for the revolving credit facility and term loan, our notes indentures and the loan agreement related to our securitization, see item 7 of this annual report under the caption 201cmanagement 2019s discussion and analysis of financial condition and results of operations 2014liquidity and capital resources 2014factors affecting sources of liquidity 201d and note 6 to our consolidated financial statements included in this annual report..
what was the closing price of common stock as of 2/11/11? 56.73
and the high price for the quarter ended 12/31/10? 53.14
and the difference between these two prices? 3.59
so what was the growth rate during this time? | 0.06756 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | jpmorgan chase & co./2007 annual report 31 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, 2007. factors that relate primarily to a single business segment are discussed in more detail within that business segment than they are in this consolidated sec- tion. for a discussion of the critical accounting estimates used by the firm that affect the consolidated results of operations, see pages 96 201398 of this annual report. revenue.
year ended december 31 (in millions) | 2007 | 2006 | 2005
investment banking fees | $6635 | $5520 | $4088
principal transactions | 9015 | 10778 | 8072
lending & deposit-related fees | 3938 | 3468 | 3389
asset management administration and commissions | 14356 | 11855 | 9988
securities gains (losses) | 164 | -543 (543) | -1336 (1336)
mortgage fees and related income | 2118 | 591 | 1054
credit card income | 6911 | 6913 | 6754
other income | 1829 | 2175 | 2684
noninterest revenue | 44966 | 40757 | 34693
net interest income | 26406 | 21242 | 19555
total net revenue | $71372 | $61999 | $54248
2007 compared with 2006 total net revenue of $71.4 billion was up $9.4 billion, or 15% (15%), from the prior year. higher net interest income, very strong private equity gains, record asset management, administration and commissions revenue, higher mortgage fees and related income and record investment banking fees contributed to the revenue growth. these increases were offset partially by lower trading revenue. investment banking fees grew in 2007 to a level higher than the pre- vious record set in 2006. record advisory and equity underwriting fees drove the results, partially offset by lower debt underwriting fees. for a further discussion of investment banking fees, which are primarily recorded in ib, see the ib segment results on pages 40 201342 of this annual report. principal transactions revenue consists of trading revenue and private equity gains. trading revenue declined significantly from the 2006 level, primarily due to markdowns in ib of $1.4 billion (net of hedges) on subprime positions, including subprime cdos, and $1.3 billion (net of fees) on leveraged lending funded loans and unfunded commitments. also in ib, markdowns in securitized products on nonsubprime mortgages and weak credit trading performance more than offset record revenue in currencies and strong revenue in both rates and equities. equities benefited from strong client activity and record trading results across all products. ib 2019s credit portfolio results increased compared with the prior year, primarily driven by higher revenue from risk management activities. the increase in private equity gains from 2006 reflected a significantly higher level of gains, the classification of certain private equity carried interest as compensation expense and a fair value adjustment in the first quarter of 2007 on nonpublic private equity investments resulting from the adoption of sfas 157 (201cfair value measurements 201d). for a further discussion of principal transactions revenue, see the ib and corporate segment results on pages 40 201342 and 59 201360, respectively, and note 6 on page 122 of this annual report. lending & deposit-related fees rose from the 2006 level, driven pri- marily by higher deposit-related fees and the bank of new york transaction. for a further discussion of lending & deposit-related fees, which are mostly recorded in rfs, tss and cb, see the rfs segment results on pages 43 201348, the tss segment results on pages 54 201355, and the cb segment results on pages 52 201353 of this annual report. asset management, administration and commissions revenue reached a level higher than the previous record set in 2006. increased assets under management and higher performance and placement fees in am drove the record results. the 18% (18%) growth in assets under management from year-end 2006 came from net asset inflows and market appreciation across all segments: institutional, retail, private bank and private client services. tss also contributed to the rise in asset management, administration and commissions revenue, driven by increased product usage by new and existing clients and market appreciation on assets under custody. finally, commissions revenue increased, due mainly to higher brokerage transaction volume (primarily included within fixed income and equity markets revenue of ib), which more than offset the sale of the insurance business by rfs in the third quarter of 2006 and a charge in the first quarter of 2007 resulting from accelerated surrenders of customer annuities. for additional information on these fees and commissions, see the segment discussions for ib on pages 40 201342, rfs on pages 43 201348, tss on pages 54 201355, and am on pages 56 201358, of this annual report. the favorable variance resulting from securities gains in 2007 compared with securities losses in 2006 was primarily driven by improvements in the results of repositioning of the treasury invest- ment securities portfolio. also contributing to the positive variance was a $234 million gain from the sale of mastercard shares. for a fur- ther discussion of securities gains (losses), which are mostly recorded in the firm 2019s treasury business, see the corporate segment discussion on pages 59 201360 of this annual report. consol idated results of operat ions.
what were investment banking fees in 2007? 6635.0
what were they in 2006? | 5520.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | investing activities for the year ended 30 september 2014, cash used for investing activities was $1638.0, primarily capital expenditures for plant and equipment. for the year ended 30 september 2013, cash used for investing activities was $1697.0, primarily capital expenditures for plant and equipment and acquisitions. for the year ended 30 september 2012, cash used for investing activities was $2435.2, primarily capital expenditures for plant and equipment, acquisitions, and investments in unconsolidated affiliates. refer to the capital expenditures section below for additional detail. capital expenditures capital expenditures are detailed in the following table:.
- | 2014 | 2013 | 2012
additions to plant and equipment | $1684.2 | $1524.2 | $1521.0
acquisitions less cash acquired | 2014 | 224.9 | 863.4
investments in and advances to unconsolidated affiliates | -2.0 (2.0) | -1.3 (1.3) | 175.4
capital expenditures on a gaap basis | $1682.2 | $1747.8 | $2559.8
capital lease expenditures (a) | 202.4 | 234.9 | 212.2
purchase of noncontrolling interests in asubsidiary (a) |.5 | 14.0 | 6.3
capital expenditures on a non-gaap basis | $1885.1 | $1996.7 | $2778.3
(a) we utilize a non-gaap measure in the computation of capital expenditures and include spending associated with facilities accounted for as capital leases and purchases of noncontrolling interests. certain contracts associated with facilities that are built to provide product to a specific customer are required to be accounted for as leases, and such spending is reflected as a use of cash within cash provided by operating activities, if the arrangement qualifies as a capital lease. additionally, the payment for subsidiary shares from noncontrolling interests in a subsidiary is accounted for as an equity transaction and will be reflected as a financing activity in the statement of cash flows. the presentation of this non-gaap measure is intended to enhance the usefulness of information by providing a measure that our management uses internally to evaluate and manage our expenditures. capital expenditures on a gaap basis in 2014 totaled $1682.2, compared to $1747.8 in 2013. the decrease of $65.6 was primarily due to the acquisitions in 2013. additions to plant and equipment are largely in support of the merchant gases and tonnage gases businesses. additions to plant and equipment also included support capital of a routine, ongoing nature, including expenditures for distribution equipment and facility improvements. spending in 2014 and 2013 included plant and equipment constructed to provide oxygen for coal gasification in china, hydrogen to the global market, and renewable energy in the u.k. in 2013, we completed three acquisitions with an aggregate cash use, net of cash acquired, of $224.9. in the fourth quarter, we acquired an air separation unit and integrated gases liquefier in guiyang, china. during the third quarter, we acquired epco, the largest independent u.s. producer of liquid carbon dioxide (co2), and wcg. in 2012, we acquired a controlling stake in indura s.a. for $690 and e.i. dupont de nemours and co., inc. 2019s 50% (50%) interest in our joint venture, da nanomaterials for $147. we also purchased a 25% (25%) equity interest in abdullah hashim industrial gases & equipment co. ltd. (ahg), an unconsolidated affiliate, for $155. refer to note 5, business combinations, and note 7, summarized financial information of equity affiliates, to the consolidated financial statements for additional details regarding the acquisitions and the investments. capital expenditures on a non-gaap basis in 2014 totaled $1885.1 compared to $1996.7 in 2013. capital lease expenditures of $202.4 decreased by $32.5, reflecting lower project spending. 2015 outlook excluding acquisitions, capital expenditures for new plant and equipment in 2015 on a gaap basis are expected to be between $1650 and $1800, and on a non-gaap basis are expected to be between $1700 and $1900. the non-gaap capital expenditures include spending associated with facilities accounted for as capital leases, which are expected to be between $50 and $100. a majority of the total capital expenditures is expected to be for new plants. it is anticipated that capital expenditures will be funded principally with cash from continuing operations. in addition, we intend to continue to evaluate acquisition opportunities and investments in equity affiliates. financing activities for the year ended 2014, cash used by financing activities was $504.3 primarily attributable to cash used to pay dividends of $627.7, which was partially offset by proceeds from stock option exercises of $141.6. our borrowings (short- and long-term proceeds, net of repayments) were a net source of cash (issuance) of $1.1 and included $148.7 of net commercial paper and other short-term debt issuances, debt proceeds from the issuance of a.
what were the capital expenditures on a non-gaap basis in 2012? | 2778.3 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | divestiture of our arrow and moores businesses, and an unfavorable sales mix of international plumbing products, which, in aggregate, decreased sales by two percent. net sales for 2016 were positively affected by increased sales volume of plumbing products, paints and other coating products and builders' hardware. net sales for 2016 were also positively affected by favorable sales mix of cabinets and windows, and net selling price increases of north american windows and north american and international plumbing products. net sales for 2016 were negatively affected by lower sales volume of cabinets and lower net selling prices of paints and other coating products. our gross profit margins were 32.2 percent, 34.2 percent and 33.4 percent in 2018, 2017 and 2016, respectively. the 2018 gross profit margin was negatively impacted by an increase in commodity costs, the recognition of the inventory step up adjustment established as a part of the the acquisition of kichler, an increase in other expenses (such as logistics costs and salaries) and unfavorable sales mix. these negative impacts were partially offset by an increase in net selling prices, the benefits associated with cost savings initiatives, and increased sales volume. the 2017 gross profit margin was positively impacted by increased sales volume, a more favorable relationship between net selling prices and commodity costs, and cost savings initiatives. selling, general and administrative expenses as a percent of sales were 17.7 percent in 2018 compared with 18.6 percent in 2017 and 18.7 percent in 2016. the decrease in selling, general and administrative expenses, as a percentage of sales, was driven by leverage of fixed expenses, due primarily to increased sales volume, and improved cost control. the following table reconciles reported operating profit to operating profit, as adjusted to exclude certain items, dollars in millions:.
- | 2018 | 2017 | 2016
operating profit as reported | $1211 | $1194 | $1087
rationalization charges | 14 | 4 | 22
kichler inventory step up adjustment | 40 | 2014 | 2014
operating profit as adjusted | $1265 | $1198 | $1109
operating profit margins as reported | 14.5% (14.5%) | 15.6% (15.6%) | 14.8% (14.8%)
operating profit margins as adjusted | 15.1% (15.1%) | 15.7% (15.7%) | 15.1% (15.1%)
operating profit margin in 2018 was negatively affected by an increase in commodity costs, the recognition of the inventory step up adjustment established as a part of the the acquisition of kichler and an increase in other expenses (such as logistics costs, salaries and erp costs). these negative impacts were partially offset by increased net selling prices, benefits associated with cost savings initiatives and increased sales volume. operating profit margin in 2017 was positively impacted by increased sales volume, cost savings initiatives, and a more favorable relationship between net selling prices and commodity costs. operating profit margin in 2017 was negatively impacted by an increase in strategic growth investments and certain other expenses, including stock-based compensation, health insurance costs, trade show costs and increased head count. due to the recently-announced increase in tariffs on imported materials from china, and assuming tariffs rise to 25 percent in 2019, we could be exposed to approximately $150 million of potential annual direct cost increases. we will work to mitigate the impact of these tariffs through a combination of price increases, supplier negotiations, supply chain repositioning and other internal productivity measures. other income (expense), net other, net, for 2018 included $14 million of net periodic pension and post-retirement benefit cost and $8 million of realized foreign currency losses. these expenses were partially offset by $3 million of earnings related to equity method investments and $1 million related to distributions from private equity funds. other, net, for 2017 included $26 million related to periodic pension and post-retirement benefit costs, $13 million net loss related to the divestitures of moores and arrow and $2 million related to the impairment of a private equity fund, partially offset by $3 million related to distributions from private equity funds and $1 million of earnings related to equity method investments..
what was reporting operating profit in 2018? 1211.0
what was it in 2017? 1194.0
what is the net change? 17.0
what is the percent change? | 0.01424 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | abiomed, inc. and subsidiaries notes to consolidated financial statements 2014 (continued) note 14. income taxes (continued) on april 1, 2007, the company adopted financial interpretation fin no. 48, accounting for uncertainty in income taxes 2014an interpretation of fasb statement no. 109 (201cfin no. 48 201d), which clarifies the accounting for uncertainty in income taxes recognized in an enterprise 2019s financial statements in accordance with fasb statement no. 109, accounting for income taxes. fin no. 48 prescribes a recognition threshold and measurement process for recording in the financial statements uncertain tax positions taken or expected to be taken in a tax return. fin no. 48 also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition and defines the criteria that must be met for the benefits of a tax position to be recognized. as a result of its adoption of fin no. 48, the company recorded the cumulative effect of the change in accounting principle of $0.3 million as a decrease to opening retained earnings and an increase to other long-term liabilities as of april 1, 2007. this adjustment related to state nexus for failure to file tax returns in various states for the years ended march 31, 2003, 2004, and 2005. the company initiated a voluntary disclosure plan, which it completed in fiscal year 2009. the company elected to recognize interest and/or penalties related to income tax matters in income tax expense in its consolidated statements of operations. as of march 31, 2009, the company had remitted all outstanding amounts owed to each of the states in connection with the outstanding taxes owed at march 31, 2008. as such, the company had no fin no. 48 liability at march 31, 2009. on a quarterly basis, the company accrues for the effects of uncertain tax positions and the related potential penalties and interest. it is reasonably possible that the amount of the unrecognized tax benefit with respect to certain of the unrecognized tax positions will increase or decrease during the next 12 months; however, it is not expected that the change will have a significant effect on the company 2019s results of operations or financial position. a reconciliation of the beginning and ending balance of unrecognized tax benefits, excluding accrued interest recorded at march 31, 2009 (in thousands) is as follows:.
balance at march 31 2008 | $168
reductions for tax positions for closing of the applicable statute of limitations | -168 (168)
balance at march 31 2009 | $2014
the company and its subsidiaries are subject to u.s. federal income tax, as well as income tax of multiple state and foreign jurisdictions. the company has accumulated significant losses since its inception in 1981. all tax years remain subject to examination by major tax jurisdictions, including the federal government and the commonwealth of massachusetts. however, since the company has net operating loss and tax credit carry forwards which may be utilized in future years to offset taxable income, those years may also be subject to review by relevant taxing authorities if the carry forwards are utilized. note 15. commitments and contingencies the company 2019s acquisition of impella provided that abiomed was required to make contingent payments to impella 2019s former shareholders as follows: 2022 upon fda approval of the impella 2.5 device, a payment of $5583333 2022 upon fda approval of the impella 5.0 device, a payment of $5583333, and 2022 upon the sale of 1000 units of impella 2019s products worldwide, a payment of $5583334. the two milestones related to sales and fda approval of the impella 2.5 device were achieved and paid prior to march 31, 2009. in april 2009, the company received fda 510 (k) clearance of its impella 5.0 product, triggering an obligation to pay the milestone related to the impella 5.0 device. in may 2009, the company paid $1.8 million of this final milestone in cash and elected to pay the remaining amount through the issuance of approximately 664612 shares of common stock..
what was the total of contingent payments related to impella? 16750002.0
and concerning the state tax settlement, what was its total due payment, in millions? | 168.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | the company had net realized capital losses for 2015 of $184.1 million. in 2015, the company recorded $102.2 million of other-than-temporary impairments on fixed maturity securities, $45.6 million of losses due to fair value re-measurements and $36.3 million of net realized capital losses from sales of fixed maturity and equity securities. in 2014, net realized capital gains were $84.0 million due to $121.7 million of gains from fair value re-measurements on fixed maturity and equity securities and $1.9 million of net realized capital gains from sales of fixed maturity and equity securities, partially offset by $39.5 million of other-than- temporary impairments on fixed maturity securities. in 2013, net realized capital gains were $300.2 million due to $258.9 million of gains due to fair value re-measurements on fixed maturity and equity securities and $42.4 million of net realized capital gains from sales of fixed maturity and equity securities, partially offset by $1.1 million of other-than-temporary impairments on fixed maturity securities. the company 2019s cash and invested assets totaled $17.7 billion at december 31, 2015, which consisted of 87.4% (87.4%) fixed maturities and cash, of which 91.4% (91.4%) were investment grade; 8.2% (8.2%) equity securities and 4.4% (4.4%) other invested assets. the average maturity of fixed maturity securities was 4.1 years at december 31, 2015, and their overall duration was 3.0 years. as of december 31, 2015, the company did not have any direct investments in commercial real estate or direct commercial mortgages or any material holdings of derivative investments (other than equity index put option contracts as discussed in item 8, 201cfinancial statements and supplementary data 201d - note 4 of notes to consolidated financial statements) or securities of issuers that are experiencing cash flow difficulty to an extent that the company 2019s management believes could threaten the issuer 2019s ability to meet debt service payments, except where other-than-temporary impairments have been recognized. the company 2019s investment portfolio includes structured commercial mortgage-backed securities (201ccmbs 201d) with a book value of $264.9 million and a market value of $266.3 million. cmbs securities comprising more than 70% (70%) of the december 31, 2015 market value are rated aaa by standard & poor 2019s financial services llc (201cstandard & poor 2019s 201d). furthermore, securities comprising more than 90% (90%) of the market value are rated investment grade by standard & poor 2019s. the following table reflects investment results for the company for the periods indicated:.
(dollars in millions) | december 31, average investments (1) | december 31, pre-tax investment income (2) | december 31, pre-tax effective yield | december 31, pre-tax realized net capital (losses) gains (3) | december 31, pre-tax unrealized net capital gains (losses)
2015 | $17430.8 | $473.8 | 2.72% (2.72%) | $-184.1 (184.1) | $-194.0 (194.0)
2014 | 16831.9 | 530.6 | 3.15% (3.15%) | 84.0 | 20.3
2013 | 16472.5 | 548.5 | 3.33% (3.33%) | 300.2 | -467.2 (467.2)
2012 | 16220.9 | 600.2 | 3.70% (3.70%) | 164.4 | 161.0
2011 | 15680.9 | 620.0 | 3.95% (3.95%) | 6.9 | 106.6
pre-tax pre-tax pre-tax pre-tax realized net unrealized net average investment effective capital (losses) capital gains (dollars in millions) investments (1) income (2) yield gains (3) (losses) 17430.8$473.8$2.72% (2.72%) (184.1) $(194.0) $16831.9 530.6 3.15% (3.15%) 84.0 20.3 16472.5 548.5 3.33% (3.33%) 300.2 (467.2) 16220.9 600.2 3.70% (3.70%) 164.4 161.0 15680.9 620.0 3.95% (3.95%) 6.9 106.6 (1) average of the beginning and ending carrying values of investments and cash, less net funds held, future policy benefit reserve, and non-interest bearing cash. bonds, common stock and redeemable and non-redeemable preferred stocks are carried at market value. common stock which are actively managed are carried at fair value. (2) after investment expenses, excluding realized net capital gains (losses). (3) included in 2015, 2014, 2013, 2012 and 2011 are fair value re-measurements of ($45.6) million, $121.7 million, $258.9 million, $118.1 million and ($4.4) million, respectively..
what was the change in the investment income from 2011 to 2012? -19.8
and how much does this change represent in relation to that income in 2011, in percentage? | -0.03194 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | transaction and commercial issues in many of our businesses. these skills are a valuable resource as we monitor regulatory and tariff schemes to determine our capital budgeting needs and integrate acquisitions. the company expects to realize cost reduction and performance improvement benefits in both earnings and cash flows; however, there can be no assurance that the reductions and improvements will continue and our inability to sustain the reductions and improvements may result in less than expected earnings and cash flows in 2004 and beyond. asset sales during 2003, we continued the initiative to sell all or part of certain of the company 2019s subsidiaries. this initiative was designed to decrease the company 2019s dependence on access to capital markets and improve the strength of our balance sheet by reducing financial leverage and improving liquidity. the following chart details the asset sales that were closed during 2003. sales proceeds project name date completed (in millions) location.
project name | date completed | sales proceeds (in millions) | location
cilcorp/medina valley | january 2003 | $495 | united states
aes ecogen/aes mt. stuart | january 2003 | $59 | australia
mountainview | march 2003 | $30 | united states
kelvin | march 2003 | $29 | south africa
songas | april 2003 | $94 | tanzania
aes barry limited | july 2003 | a340/$62 | united kingdom
aes haripur private ltd/aes meghnaghat ltd | december 2003 | $145 | bangladesh
aes mtkvari/aes khrami/aes telasi | august 2003 | $23 | republic of georgia
medway power limited/aes medway operations limited | november 2003 | a347/$78 | united kingdom
aes oasis limited | december 2003 | $150 | pakistan/oman
the company continues to evaluate its portfolio and business performance and may decide to dispose of additional businesses in the future. however given the improvements in our liquidity there will be a lower emphasis placed on asset sales in the future for purposes of improving liquidity and strengthening the balance sheet. for any sales that happen in the future, there can be no guarantee that the proceeds from such sale transactions will cover the entire investment in the subsidiaries. depending on which businesses are eventually sold, the entire or partial sale of any business may change the current financial characteristics of the company 2019s portfolio and results of operations. furthermore future sales may impact the amount of recurring earnings and cash flows the company would expect to achieve. subsidiary restructuring during 2003, we completed and initiated restructuring transactions for several of our south american businesses. the efforts are focused on improving the businesses long-term prospects for generating acceptable returns on invested capital or extending short-term debt maturities. businesses impacted include eletropaulo, tiete, uruguaiana and sul in brazil and gener in chile. brazil eletropaulo. aes has owned an interest in eletropaulo since april 1998, when the company was privatized. in february 2002 aes acquired a controlling interest in the business and as a consequence started to consolidate it. aes financed a significant portion of the acquisition of eletropaulo, including both common and preferred shares, through loans and deferred purchase price financing arrangements provided by the brazilian national development bank 2014 (2018 2018bndes 2019 2019), and its wholly-owned subsidiary, bndes participac 0327o 0303es s.a. (2018 2018bndespar 2019 2019), to aes 2019s subsidiaries, aes elpa s.a. (2018 2018aes elpa 2019 2019) and aes transgas empreendimentos, s.a. (2018 2018aes transgas 2019 2019)..
what was the total, in millions, of sales proceeds for subsidiaries assets in the months of december and august of 2003, combined, in the locations of bangladesh and republic of georgia? 168.0
including november of that year, what then becomes that total? | 246.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | annual report 2013 duke realty corporation 37 in addition to the capitalization of overhead costs discussed above, we also capitalized $16.8 million, $9.4 million and $4.3 million of interest costs in the years ended december 31, 2013, 2012 and 2011, respectively. the following table summarizes our second generation capital expenditures by reportable operating segment (in thousands):.
- | 2013 | 2012 | 2011
industrial | $41971 | $33095 | $34872
office | 46600 | 30092 | 63933
medical office | 3106 | 641 | 410
non-reportable rental operations segments | 121 | 56 | 49
total | $91798 | $63884 | $99264
both our first and second generation expenditures vary significantly between leases on a per square foot basis, dependent upon several factors including the product type, the nature of a tenant's operations, the specific physical characteristics of each individual property as well as the market in which the property is located. second generation expenditures related to the 79 suburban office buildings that were sold in the blackstone office disposition totaled $26.2 million in 2011. dividends and distributions we are required to meet the distribution requirements of the internal revenue code of 1986, as amended (the "code"), in order to maintain our reit status. we paid dividends of $0.68 per common share for each of the years ended december 31, 2013, 2012 and 2011. we expect to continue to distribute at least an amount equal to our taxable earnings, to meet the requirements to maintain our reit status, and additional amounts as determined by our board of directors. distributions are declared at the discretion of our board of directors and are subject to actual cash available for distribution, our financial condition, capital requirements and such other factors as our board of directors deems relevant. at december 31, 2013 we had three series of preferred stock outstanding. the annual dividend rates on our preferred shares range between 6.5% (6.5%) and 6.625% (6.625%) and are paid quarterly in arrears. in february 2013, we redeemed all of our outstanding series o shares for a total payment of $178.0 million, thus reducing our future quarterly dividend commitments by $3.7 million. in march 2012, we redeemed all of our 6.950% (6.950%) series m cumulative redeemable preferred shares ("series m shares") for a total payment of $168.3 million, thus reducing our future quarterly dividend commitments by $2.9 million. in july 2011, we redeemed all of our 7.25% (7.25%) series n cumulative redeemable preferred shares ("series n shares") for a total payment of $108.6 million, thus reducing our future quarterly dividend commitments by $2.0 million. debt maturities debt outstanding at december 31, 2013 had a face value totaling $4.3 billion with a weighted average interest rate of 5.49% (5.49%) and with maturity dates ranging between 2014 and 2028. of this total amount, we had $3.1 billion of unsecured debt, $1.1 billion of secured debt and $88.0 million outstanding on the drlp unsecured line of credit at december 31, 2013. we made scheduled and unscheduled principal payments of $1.0 billion on outstanding debt during the year ended december 31, 2013..
what was the percentage of the total second generation capital expenditures by reportable operating segment that was office related in 2012? 0.47104
what was the percent of the debt maturities outstanding at 12/31/12 that was unsecured debt? | 0.72093 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | we have adequate access to capital markets to meet any foreseeable cash requirements, and we have sufficient financial capacity to satisfy our current liabilities. cash flows millions 2014 2013 2012.
cash flowsmillions | 2014 | 2013 | 2012
cash provided by operating activities | $7385 | $6823 | $6161
cash used in investing activities | -4249 (4249) | -3405 (3405) | -3633 (3633)
cash used in financing activities | -2982 (2982) | -3049 (3049) | -2682 (2682)
net change in cash and cashequivalents | $154 | $369 | $-154 (154)
operating activities higher net income in 2014 increased cash provided by operating activities compared to 2013, despite higher income tax payments. 2014 income tax payments were higher than 2013 primarily due to higher income, but also because we paid taxes previously deferred by bonus depreciation (discussed below). higher net income in 2013 increased cash provided by operating activities compared to 2012. in addition, we made payments in 2012 for past wages as a result of national labor negotiations, which reduced cash provided by operating activities in 2012. lower tax benefits from bonus depreciation (as discussed below) partially offset the increases. federal tax law provided for 100% (100%) bonus depreciation for qualified investments made during 2011 and 50% (50%) bonus depreciation for qualified investments made during 2012-2013. as a result, the company deferred a substantial portion of its 2011-2013 income tax expense, contributing to the positive operating cash flow in those years. congress extended 50% (50%) bonus depreciation for 2014, but this extension occurred in december and did not have a significant benefit on our income tax payments during 2014. investing activities higher capital investments, including the early buyout of the long-term operating lease of our headquarters building for approximately $261 million, drove the increase in cash used in investing activities compared to 2013. significant investments also were made for new locomotives, freight cars and containers, and capacity and commercial facility projects. capital investments in 2014 also included $99 million for the early buyout of locomotives and freight cars under long-term operating leases, which we exercised due to favorable economic terms and market conditions. lower capital investments in locomotives and freight cars in 2013 drove the decrease in cash used in investing activities compared to 2012. included in capital investments in 2012 was $75 million for the early buyout of 165 locomotives under long-term operating and capital leases during the first quarter of 2012, which we exercised due to favorable economic terms and market conditions..
what was the value included in the capital investments for buyout of locomotives in 2012, in dollars? 75000000.0
and how many locomotives were bought with that value? 165.0
what was, then, the average cost of each one of those locomotives? | 454545.45455 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | n o t e s t o t h e c o n s o l i d a t e d f i n a n c i a l s t a t e m e n t s 2013 (continued) ace limited and subsidiaries excluded from adjusted weighted-average shares outstanding and assumed conversions is the impact of securities that would have been anti-dilutive during the respective years. for the years ended december 31, 2010, 2009, and 2008, the potential anti-dilutive share conversions were 256868 shares, 1230881 shares, and 638401 shares, respectively. 19. related party transactions the ace foundation 2013 bermuda is an unconsolidated not-for-profit organization whose primary purpose is to fund charitable causes in bermuda. the trustees are principally comprised of ace management. the company maintains a non-interest bear- ing demand note receivable from the ace foundation 2013 bermuda, the balance of which was $30 million and $31 million, at december 31, 2010 and 2009, respectively. the receivable is included in other assets in the accompanying consolidated balance sheets. the borrower has used the related proceeds to finance investments in bermuda real estate, some of which have been rented to ace employees at rates established by independent, professional real estate appraisers. the borrower uses income from the investments to both repay the note and to fund charitable activities. accordingly, the company reports the demand note at the lower of its principal value or the fair value of assets held by the borrower to repay the loan, including the real estate properties. 20. statutory financial information the company 2019s insurance and reinsurance subsidiaries are subject to insurance laws and regulations in the jurisdictions in which they operate. these regulations include restrictions that limit the amount of dividends or other distributions, such as loans or cash advances, available to shareholders without prior approval of the insurance regulatory authorities. there are no statutory restrictions on the payment of dividends from retained earnings by any of the bermuda subsidiaries as the minimum statutory capital and surplus requirements are satisfied by the share capital and additional paid-in capital of each of the bermuda subsidiaries. the company 2019s u.s. subsidiaries file financial statements prepared in accordance with statutory accounting practices prescribed or permitted by insurance regulators. statutory accounting differs from gaap in the reporting of certain reinsurance contracts, investments, subsidiaries, acquis- ition expenses, fixed assets, deferred income taxes, and certain other items. the statutory capital and surplus of the u.s. subsidiaries met regulatory requirements for 2010, 2009, and 2008. the amount of dividends available to be paid in 2011, without prior approval from the state insurance departments, totals $850 million. the following table presents the combined statutory capital and surplus and statutory net income of the bermuda and u.s. subsidiaries at and for the years ended december 31, 2010, 2009, and 2008..
(in millions of u.s. dollars) | bermuda subsidiaries 2010 | bermuda subsidiaries 2009 | bermuda subsidiaries 2008 | bermuda subsidiaries 2010 | bermuda subsidiaries 2009 | 2008
statutory capital and surplus | $11798 | $9164 | $6205 | $6266 | $5885 | $5368
statutory net income | $2430 | $2369 | $2196 | $1047 | $904 | $818
as permitted by the restructuring discussed previously in note 7, certain of the company 2019s u.s. subsidiaries discount certain a&e liabilities, which increased statutory capital and surplus by approximately $206 million, $215 million, and $211 million at december 31, 2010, 2009, and 2008, respectively. the company 2019s international subsidiaries prepare statutory financial statements based on local laws and regulations. some jurisdictions impose complex regulatory requirements on insurance companies while other jurisdictions impose fewer requirements. in some countries, the company must obtain licenses issued by governmental authorities to conduct local insurance business. these licenses may be subject to reserves and minimum capital and solvency tests. jurisdictions may impose fines, censure, and/or criminal sanctions for violation of regulatory requirements..
what was the amount of statutory capital and surplus for bermuda subsidiaries in 2010? 11798.0
and what was it in 2009? 9164.0
by how much, then, did it increase over the year? | 2634.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | the table below details cash capital investments for the years ended december 31, 2006, 2005, and 2004. millions of dollars 2006 2005 2004.
millions of dollars | 2006 | 2005 | 2004
track | $1487 | $1472 | $1328
capacity and commercial facilities | 510 | 509 | 347
locomotives and freight cars | 135 | 98 | 125
other | 110 | 90 | 76
total | $2242 | $2169 | $1876
in 2007, we expect our total capital investments to be approximately $3.2 billion, which may include long- term leases. these investments will be used to maintain track and structures, continue capacity expansions on our main lines in constrained corridors, remove bottlenecks, upgrade and augment equipment to better meet customer needs, build and improve facilities and terminals, and develop and implement new technologies. we designed these investments to maintain infrastructure for safety, enhance customer service, promote growth, and improve operational fluidity. we expect to fund our 2007 cash capital investments through cash generated from operations, the sale or lease of various operating and non-operating properties, and cash on hand at december 31, 2006. we expect that these sources will continue to provide sufficient funds to meet our expected capital requirements for 2007. for the years ended december 31, 2006, 2005, and 2004, our ratio of earnings to fixed charges was 4.4, 2.9, and 2.1, respectively. the increases in 2006 and 2005 were driven by higher net income. the ratio of earnings to fixed charges was computed on a consolidated basis. earnings represent income from continuing operations, less equity earnings net of distributions, plus fixed charges and income taxes. fixed charges represent interest charges, amortization of debt discount, and the estimated amount representing the interest portion of rental charges. see exhibit 12 for the calculation of the ratio of earnings to fixed charges. financing activities credit facilities 2013 on december 31, 2006, we had $2 billion in revolving credit facilities available, including $1 billion under a five-year facility expiring in march 2009 and $1 billion under a five-year facility expiring in march 2010 (collectively, the "facilities"). the facilities are designated for general corporate purposes and support the issuance of commercial paper. neither of the facilities were drawn on in 2006. commitment fees and interest rates payable under the facilities are similar to fees and rates available to comparably rated investment-grade borrowers. these facilities allow for borrowings at floating rates based on london interbank offered rates, plus a spread, depending upon our senior unsecured debt ratings. the facilities require the maintenance of a minimum net worth and a debt to net worth coverage ratio. at december 31, 2006, we were in compliance with these covenants. the facilities do not include any other financial restrictions, credit rating triggers (other than rating-dependent pricing), or any other provision that could require the posting of collateral. in addition to our revolving credit facilities, we had $150 million in uncommitted lines of credit available, including $75 million that expires in march 2007 and $75 million expiring in may 2007. neither of these lines of credit were used as of december 31, 2006. we must have equivalent credit available under our five-year facilities to draw on these $75 million lines. dividends 2013 on january 30, 2007, we increased the quarterly dividend to $0.35 per share, payable beginning on april 2, 2007, to shareholders of record on february 28, 2007. we expect to fund the increase in the quarterly dividend through cash generated from operations, the sale or lease of various operating and non-operating properties, and cash on hand at december 31, 2006. dividend restrictions 2013 we are subject to certain restrictions related to the payment of cash dividends to our shareholders due to minimum net worth requirements under our credit facilities. retained earnings available.
what was the percentage of the total investments amount attributable to the track in 2006? 0.66325
what was the anticipated change in the capital investment between 2006 and 2007? -2238.8
so what was the anticipated percentage increase? | -0.99857 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | market price and dividends d u k e r e a l t y c o r p o r a t i o n 3 8 2 0 0 2 a n n u a l r e p o r t the company 2019s common shares are listed for trading on the new york stock exchange, symbol dre. the following table sets forth the high and low sales prices of the common stock for the periods indicated and the dividend paid per share during each such period. comparable cash dividends are expected in the future. on january 29, 2003, the company declared a quarterly cash dividend of $.455 per share, payable on february 28, 2003, to common shareholders of record on february 14, 2003..
quarter ended | 2002 high | 2002 low | 2002 dividend | 2002 high | 2002 low | dividend
december 31 | $25.84 | $21.50 | $.455 | $24.80 | $22.00 | $.45
september 30 | 28.88 | 21.40 |.455 | 26.17 | 21.60 |.45
june 30 | 28.95 | 25.46 |.450 | 24.99 | 22.00 |.43
march 31 | 26.50 | 22.92 |.450 | 25.44 | 21.85 |.43
.
what was the cash dividend per share in the last quarter of 2002? 0.455
and what was it in the first quarter? 0.45
what was, then, the change in that cash dividend throughout 2002? 0.005
and how much does this change represent in relation in relation to that cash dividend in the first quarter? 0.01111
how much is that in percentage? | 1.11111 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | item 5. market for the registrant 2019s common equity, related stockholder matters and issuer purchases of equity securities the following graph compares annual total return of our common stock, the standard & poor 2019s 500 composite stock index (201cs&p 500 index 201d) and our peer group (201cloews peer group 201d) for the five years ended december 31, 2015. the graph assumes that the value of the investment in our common stock, the s&p 500 index and the loews peer group was $100 on december 31, 2010 and that all dividends were reinvested..
- | 2010 | 2011 | 2012 | 2013 | 2014 | 2015
loews common stock | 100.0 | 97.37 | 106.04 | 126.23 | 110.59 | 101.72
s&p 500 index | 100.0 | 102.11 | 118.45 | 156.82 | 178.29 | 180.75
loews peer group (a) | 100.0 | 101.59 | 115.19 | 145.12 | 152.84 | 144.70
(a) the loews peer group consists of the following companies that are industry competitors of our principal operating subsidiaries: ace limited, w.r. berkley corporation, the chubb corporation, energy transfer partners l.p., ensco plc, the hartford financial services group, inc., kinder morgan energy partners, l.p. (included through november 26, 2014 when it was acquired by kinder morgan inc.), noble corporation, spectra energy corp, transocean ltd. and the travelers companies, inc. dividend information we have paid quarterly cash dividends on loews common stock in each year since 1967. regular dividends of $0.0625 per share of loews common stock were paid in each calendar quarter of 2015 and 2014..
from 2010 to 2011, what was the change in the value of the loews common stock? | -2.63 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | edwards lifesciences corporation notes to consolidated financial statements (continued) 7. acquisitions (continued) was recorded to goodwill. the following table summarizes the fair values of the assets acquired and liabilities assumed (in millions):.
current assets | $28.1
property and equipment net | 0.2
goodwill | 258.9
ipr&d | 190.0
current liabilities assumed | -32.9 (32.9)
deferred income taxes | -66.0 (66.0)
contingent consideration | -30.3 (30.3)
total cash purchase price | 348.0
less: cash acquired | -27.9 (27.9)
total cash purchase price net of cash acquired | $320.1
goodwill includes expected synergies and other benefits the company believes will result from the acquisition. goodwill was assigned to the company 2019s united states segment and is not deductible for tax purposes. ipr&d has been capitalized at fair value as an intangible asset with an indefinite life and will be assessed for impairment in subsequent periods. the fair value of the ipr&d was determined using the income approach. this approach determines fair value based on cash flow projections which are discounted to present value using a risk-adjusted rate of return. the discount rate used to determine the fair value of the ipr&d was 16.5% (16.5%). completion of successful design developments, bench testing, pre-clinical studies and human clinical studies are required prior to selling any product. the risks and uncertainties associated with completing development within a reasonable period of time include those related to the design, development, and manufacturability of the product, the success of pre-clinical and clinical studies, and the timing of regulatory approvals. the valuation assumed $97.7 million of additional research and development expenditures would be incurred prior to the date of product introduction, and the company does not currently anticipate significant changes to forecasted research and development expenditures associated with the cardiaq program. the company 2019s valuation model also assumed net cash inflows would commence in late 2018, if successful clinical trial experiences lead to a ce mark approval. upon completion of development, the underlying research and development intangible asset will be amortized over its estimated useful life. the company disclosed in early february 2017 that it had voluntarily paused enrollment in its clinical trials for the edwards-cardiaq valve to perform further design validation testing on a feature of the valve. this testing has been completed and, in collaboration with clinical investigators, the company has decided to resume screening patients for enrollment in its clinical trials. the results of operations for cardiaq have been included in the accompanying consolidated financial statements from the date of acquisition. pro forma results have not been presented as the results of cardiaq are not material in relation to the consolidated financial statements of the company. 8. goodwill and other intangible assets on july 3, 2015, the company acquired cardiaq (see note 7). this transaction resulted in an increase to goodwill of $258.9 million and ipr&d of $190.0 million..
what is the amount of the goodwill? | 258.9 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | entergy new orleans, inc. management's financial discussion and analysis net revenue 2008 compared to 2007 net revenue consists of operating revenues net of: 1) fuel, fuel-related expenses, and gas purchased for resale, 2) purchased power expenses, and 3) other regulatory charges. following is an analysis of the change in net revenue comparing 2008 to 2007. amount (in millions).
- | amount (in millions)
2007 net revenue | $231.0
volume/weather | 15.5
net gas revenue | 6.6
rider revenue | 3.9
base revenue | -11.3 (11.3)
other | 7.0
2008 net revenue | $252.7
the volume/weather variance is due to an increase in electricity usage in the service territory in 2008 compared to the same period in 2007. entergy new orleans estimates that approximately 141000 electric customers and 93000 gas customers have returned since hurricane katrina and are taking service as of december 31, 2008, compared to approximately 132000 electric customers and 86000 gas customers as of december 31, 2007. billed retail electricity usage increased a total of 184 gwh compared to the same period in 2007, an increase of 4% (4%). the net gas revenue variance is primarily due to an increase in base rates in march and november 2007. refer to note 2 to the financial statements for a discussion of the base rate increase. the rider revenue variance is due primarily to higher total revenue and a storm reserve rider effective march 2007 as a result of the city council's approval of a settlement agreement in october 2006. the approved storm reserve has been set to collect $75 million over a ten-year period through the rider and the funds will be held in a restricted escrow account. the settlement agreement is discussed in note 2 to the financial statements. the base revenue variance is primarily due to a base rate recovery credit, effective january 2008. the base rate credit is discussed in note 2 to the financial statements. gross operating revenues and fuel and purchased power expenses gross operating revenues increased primarily due to: an increase of $58.9 million in gross wholesale revenue due to increased sales to affiliated customers and an increase in the average price of energy available for resale sales; an increase of $47.7 million in electric fuel cost recovery revenues due to higher fuel rates and increased electricity usage; and an increase of $22 million in gross gas revenues due to higher fuel recovery revenues and increases in gas base rates in march 2007 and november 2007. fuel and purchased power increased primarily due to increases in the average market prices of natural gas and purchased power in addition to an increase in demand..
what is the net change in revenue from 2007 to 2008? | 21.7 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | table of contents the estimated amortization expense at september 26, 2015 for each of the five succeeding fiscal years was as follows:.
fiscal 2016 | $377.0
fiscal 2017 | $365.6
fiscal 2018 | $355.1
fiscal 2019 | $343.5
fiscal 2020 | $332.3
goodwill in accordance with asc 350, intangibles 2014goodwill and other (asc 350), the company tests goodwill for impairment at the reporting unit level on an annual basis and between annual tests if events and circumstances indicate it is more likely than not that the fair value of a reporting unit is less than its carrying value. events that could indicate impairment and trigger an interim impairment assessment include, but are not limited to, current economic and market conditions, including a decline in market capitalization, a significant adverse change in legal factors, business climate, operational performance of the business or key personnel, and an adverse action or assessment by a regulator. in performing the impairment test, the company utilizes the two-step approach prescribed under asc 350. the first step requires a comparison of the carrying value of each reporting unit to its estimated fair value. to estimate the fair value of its reporting units for step 1, the company primarily utilizes the income approach. the income approach is based on a dcf analysis and calculates the fair value by estimating the after-tax cash flows attributable to a reporting unit and then discounting the after-tax cash flows to a present value using a risk-adjusted discount rate. assumptions used in the dcf require significant judgment, including judgment about appropriate discount rates and terminal values, growth rates, and the amount and timing of expected future cash flows. the forecasted cash flows are based on the company 2019s most recent budget and strategic plan and for years beyond this period, the company 2019s estimates are based on assumed growth rates expected as of the measurement date. the company believes its assumptions are consistent with the plans and estimates used to manage the underlying businesses. the discount rates used are intended to reflect the risks inherent in future cash flow projections and are based on estimates of the weighted-average cost of capital (201cwacc 201d) of market participants relative to each respective reporting unit. the market approach considers comparable market data based on multiples of revenue or earnings before interest, taxes, depreciation and amortization (201cebitda 201d) and is primarily used as a corroborative analysis to the results of the dcf analysis. the company believes its assumptions used to determine the fair value of its reporting units are reasonable. if different assumptions were used, particularly with respect to forecasted cash flows, terminal values, waccs, or market multiples, different estimates of fair value may result and there could be the potential that an impairment charge could result. actual operating results and the related cash flows of the reporting units could differ from the estimated operating results and related cash flows. if the carrying value of a reporting unit exceeds its estimated fair value, the company is required to perform the second step of the goodwill impairment test to measure the amount of impairment loss, if any. the second step of the goodwill impairment test compares the implied fair value of a reporting unit 2019s goodwill to its carrying value. the implied fair value of goodwill is derived by performing a hypothetical purchase price allocation for each reporting unit as of the measurement date and allocating the reporting unit 2019s estimated fair value to its assets and liabilities. the residual amount from performing this allocation represents the implied fair value of goodwill. to the extent this amount is below the carrying value of goodwill, an impairment charge is recorded. the company conducted its fiscal 2015 impairment test on the first day of the fourth quarter, and as noted above used dcf and market approaches to estimate the fair value of its reporting units as of june 28, 2015, and ultimately used the fair value determined by the dcf approach in making its impairment test conclusions. the company believes it used reasonable estimates and assumptions about future revenue, cost projections, cash flows, market multiples and discount rates as of the measurement date. as a result of completing step 1, all of the company's reporting units had fair values exceeding their carrying values, and as such, step 2 of the impairment test was not required. for illustrative purposes, had the fair value of each of the reporting units that passed step 1 been lower than 10% (10%), all of the reporting units would still have passed step 1 of the goodwill impairment test. at september 26, 2015, the company believes that each reporting unit, with goodwill aggregating 2.81 billion, was not at risk of failing step 1 of the goodwill impairment test based on the current forecasts. the company conducted its fiscal 2014 annual impairment test on the first day of the fourth quarter, and as noted above used dcf and market approaches to estimate the fair value of its reporting units as of june 29, 2014, and ultimately used the fair value determined by the dcf approach in making its impairment test conclusions. the company believes it used reasonable estimates and assumptions about future revenue, cost projections, cash flows, market multiples and discount rates as source: hologic inc, 10-k, november 19, 2015 powered by morningstar ae document research 2120 the information contained herein may not be copied, adapted or distributed and is not warranted to be accurate, complete or timely. the user assumes all risks for any damages or losses arising from any use of this information, except to the extent such damages or losses cannot be limited or excluded by applicable law. past financial performance is no guarantee of future results..
what was the net change in value of the amortization expense from 2016 to 2017? | -11.4 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | the aes corporation notes to consolidated financial statements 2014 (continued) december 31, 2017, 2016, and 2015 was dispatched starting in february 2018. aes puerto rico continues to be the lowest cost and epa compliant energy provider in puerto rico. therefore, we expect aes puerto rico to continue to be a critical supplier to prepa. starting prior to the hurricanes, prepa has been facing economic challenges that could impact the company, and on july 2, 2017, filed for bankruptcy under title iii. as a result of the bankruptcy filing, aes puerto rico and aes ilumina 2019s non-recourse debt of $365 million and $36 million, respectively, is in default and has been classified as current as of december 31, 2017. in november 2017, aes puerto rico signed a forbearance and standstill agreement with its lenders to prevent the lenders from taking any action against the company due to the default events. this agreement will expire on march 22, 2018. the company's receivable balances in puerto rico as of december 31, 2017 totaled $86 million, of which $53 million was overdue. after the filing of title iii protection, and up until the disruption caused by the hurricanes, aes in puerto rico was collecting the overdue amounts from prepa in line with historic payment patterns. considering the information available as of the filing date, management believes the carrying amount of our assets in puerto rico of $627 million is recoverable as of december 31, 2017 and no reserve on the receivables is required. foreign currency risks 2014 aes operates businesses in many foreign countries and such operations could be impacted by significant fluctuations in foreign currency exchange rates. fluctuations in currency exchange rate between u.s. dollar and the following currencies could create significant fluctuations in earnings and cash flows: the argentine peso, the brazilian real, the dominican republic peso, the euro, the chilean peso, the colombian peso, and the philippine peso. concentrations 2014 due to the geographical diversity of its operations, the company does not have any significant concentration of customers or sources of fuel supply. several of the company's generation businesses rely on ppas with one or a limited number of customers for the majority of, and in some cases all of, the relevant businesses' output over the term of the ppas. however, no single customer accounted for 10% (10%) or more of total revenue in 2017, 2016 or 2015. the cash flows and results of operations of our businesses depend on the credit quality of our customers and the continued ability of our customers and suppliers to meet their obligations under ppas and fuel supply agreements. if a substantial portion of the company's long-term ppas and/or fuel supply were modified or terminated, the company would be adversely affected to the extent that it would be unable to replace such contracts at equally favorable terms. 26. related party transactions certain of our businesses in panama and the dominican republic are partially owned by governments either directly or through state-owned institutions. in the ordinary course of business, these businesses enter into energy purchase and sale transactions, and transmission agreements with other state-owned institutions which are controlled by such governments. at two of our generation businesses in mexico, the offtakers exercise significant influence, but not control, through representation on these businesses' boards of directors. these offtakers are also required to hold a nominal ownership interest in such businesses. in chile, we provide capacity and energy under contractual arrangements to our investment which is accounted for under the equity method of accounting. additionally, the company provides certain support and management services to several of its affiliates under various agreements. the company's consolidated statements of operations included the following transactions with related parties for the periods indicated (in millions):.
years ended december 31, | 2017 | 2016 | 2015
revenue 2014non-regulated | $1297 | $1100 | $1099
cost of sales 2014non-regulated | 220 | 210 | 330
interest income | 8 | 4 | 25
interest expense | 36 | 39 | 33
.
what was the total of revenues for transactions with related parties in 2017? | 1297.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | the defined benefit pension plans 2019 trust and $130 million to our retiree medical plans which will reduce our cash funding requirements for 2007 and 2008. in 2007, we expect to make no contributions to the defined benefit pension plans and expect to contribute $175 million to the retiree medical and life insurance plans, after giving consideration to the 2006 prepayments. the following benefit payments, which reflect expected future service, as appropriate, are expected to be paid: (in millions) pension benefits benefits.
(in millions) | pensionbenefits | otherbenefits
2007 | $1440 | $260
2008 | 1490 | 260
2009 | 1540 | 270
2010 | 1600 | 270
2011 | 1660 | 270
years 2012 2013 2016 | 9530 | 1260
as noted previously, we also sponsor nonqualified defined benefit plans to provide benefits in excess of qualified plan limits. the aggregate liabilities for these plans at december 31, 2006 were $641 million. the expense associated with these plans totaled $59 million in 2006, $58 million in 2005 and $61 million in 2004. we also sponsor a small number of foreign benefit plans. the liabilities and expenses associated with these plans are not material to our results of operations, financial position or cash flows. note 13 2013 leases our total rental expense under operating leases was $310 million, $324 million and $318 million for 2006, 2005 and 2004, respectively. future minimum lease commitments at december 31, 2006 for all operating leases that have a remaining term of more than one year were $1.1 billion ($288 million in 2007, $254 million in 2008, $211 million in 2009, $153 million in 2010, $118 million in 2011 and $121 million in later years). certain major plant facilities and equipment are furnished by the u.s. government under short-term or cancelable arrangements. note 14 2013 legal proceedings, commitments and contingencies we are a party to or have property subject to litigation and other proceedings, including matters arising under provisions relating to the protection of the environment. we believe the probability is remote that the outcome of these matters will have a material adverse effect on the corporation as a whole. we cannot predict the outcome of legal proceedings with certainty. these matters include the following items, all of which have been previously reported: on march 27, 2006, we received a subpoena issued by a grand jury in the united states district court for the northern district of ohio. the subpoena requests documents related to our application for patents issued in the united states and the united kingdom relating to a missile detection and warning technology. we are cooperating with the government 2019s investigation. on february 6, 2004, we submitted a certified contract claim to the united states requesting contractual indemnity for remediation and litigation costs (past and future) related to our former facility in redlands, california. we submitted the claim consistent with a claim sponsorship agreement with the boeing company (boeing), executed in 2001, in boeing 2019s role as the prime contractor on the short range attack missile (sram) program. the contract for the sram program, which formed a significant portion of our work at the redlands facility, had special contractual indemnities from the u.s. air force, as authorized by public law 85-804. on august 31, 2004, the united states denied the claim. our appeal of that decision is pending with the armed services board of contract appeals. on august 28, 2003, the department of justice (the doj) filed complaints in partial intervention in two lawsuits filed under the qui tam provisions of the civil false claims act in the united states district court for the western district of kentucky, united states ex rel. natural resources defense council, et al v. lockheed martin corporation, et al, and united states ex rel. john d. tillson v. lockheed martin energy systems, inc., et al. the doj alleges that we committed violations of the resource conservation and recovery act at the paducah gaseous diffusion plant by not properly handling, storing.
what is the total operating leases that have a remaining term of more than one year, in billions? 1.1
what about in millions? 1100.0
what amount is due in 2007? 288.0
what proportion does this represent? | 0.26182 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | we hold an interest rate swap agreement to hedge the benchmark interest rate of our $375 million 5.0% (5.0%) senior unsecured notes due july 1, 2014. the effect of the swap is to convert our 5.0% (5.0%) fixed interest rate to a variable interest rate based on the three-month libor plus 2.05% (2.05%) (2.42% (2.42%) as of october 29, 2011). in addition, we have a term loan facility of $145 million that bears interest at a fluctuating rate for each period equal to the libor rate corresponding with the tenor of the interest period plus a spread of 1.25% (1.25%) (1.61% (1.61%) as of october 29, 2011). if libor increases by 100 basis points, our annual interest expense would increase by approximately $5 million. however, this hypothetical change in interest rates would not impact the interest expense on our $375 million of 3% (3%) fixed-rate debt, which is not hedged. as of october 30, 2010, a similar 100 basis point increase in libor would have resulted in an increase of approximately $4 million to our annual interest expense. foreign currency exposure as more fully described in note 2i in the notes to consolidated financial statements contained in item 8 of this annual report on form 10-k, we regularly hedge our non-u.s. dollar-based exposures by entering into forward foreign currency exchange contracts. the terms of these contracts are for periods matching the duration of the underlying exposure and generally range from one month to twelve months. currently, our largest foreign currency exposure is the euro, primarily because our european operations have the highest proportion of our local currency denominated expenses. relative to foreign currency exposures existing at october 29, 2011 and october 30, 2010, a 10% (10%) unfavorable movement in foreign currency exchange rates over the course of the year would expose us to approximately $6 million in losses in earnings or cash flows. the market risk associated with our derivative instruments results from currency exchange rates that are expected to offset the market risk of the underlying transactions, assets and liabilities being hedged. the counterparties to the agreements relating to our foreign exchange instruments consist of a number of major international financial institutions with high credit ratings. based on the credit ratings of our counterparties as of october 29, 2011, we do not believe that there is significant risk of nonperformance by them. while the contract or notional amounts of derivative financial instruments provide one measure of the volume of these transactions, they do not represent the amount of our exposure to credit risk. the amounts potentially subject to credit risk (arising from the possible inability of counterparties to meet the terms of their contracts) are generally limited to the amounts, if any, by which the counterparties 2019 obligations under the contracts exceed our obligations to the counterparties. the following table illustrates the effect that a 10% (10%) unfavorable or favorable movement in foreign currency exchange rates, relative to the u.s. dollar, would have on the fair value of our forward exchange contracts as of october 29, 2011 and october 30, 2010:.
- | october 29 2011 | october 30 2010
fair value of forward exchange contracts asset | $2472 | $7256
fair value of forward exchange contracts after a 10% (10%) unfavorable movement in foreign currency exchange rates asset | $17859 | $22062
fair value of forward exchange contracts after a 10% (10%) favorable movement in foreign currency exchange rates liability | $-13332 (13332) | $-7396 (7396)
fair value of forward exchange contracts after a 10% (10%) unfavorable movement in foreign currency exchange rates asset................. $17859 $22062 fair value of forward exchange contracts after a 10% (10%) favorable movement in foreign currency exchange rates liability....................... $(13332) $(7396) the calculation assumes that each exchange rate would change in the same direction relative to the u.s. dollar. in addition to the direct effects of changes in exchange rates, such changes typically affect the volume of sales or the foreign currency sales price as competitors 2019 products become more or less attractive. our sensitivity analysis of the effects of changes in foreign currency exchange rates does not factor in a potential change in sales levels or local currency selling prices..
what is the net change fair value of forward exchange contracts asset from 2010 to 2011? -4784.0
what percentage change does this represent? | -0.65932 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | long-term borrowings the carrying value and fair value of long-term borrowings estimated using market prices at december 31, 2013 included the following: (in millions) maturity amount unamortized discount carrying value fair value.
(in millions) | maturity amount | unamortized discount | carrying value | fair value
3.50% (3.50%) notes due 2014 | $1000 | $2014 | $1000 | $1029
1.375% (1.375%) notes due 2015 | 750 | 2014 | 750 | 759
6.25% (6.25%) notes due 2017 | 700 | -2 (2) | 698 | 812
5.00% (5.00%) notes due 2019 | 1000 | -2 (2) | 998 | 1140
4.25% (4.25%) notes due 2021 | 750 | -3 (3) | 747 | 799
3.375% (3.375%) notes due 2022 | 750 | -4 (4) | 746 | 745
total long-term borrowings | $4950 | $-11 (11) | $4939 | $5284
long-term borrowings at december 31, 2012 had a carrying value of $5.687 billion and a fair value of $6.275 billion determined using market prices at the end of december 2012. 2015 and 2022 notes. in may 2012, the company issued $1.5 billion in aggregate principal amount of unsecured unsubordinated obligations. these notes were issued as two separate series of senior debt securities including $750 million of 1.375% (1.375%) notes maturing in june 2015 (the 201c2015 notes 201d) and $750 million of 3.375% (3.375%) notes maturing in june 2022 (the 201c2022 notes 201d). net proceeds were used to fund the repurchase of blackrock 2019s common stock and series b preferred from barclays and affiliates and for general corporate purposes. interest on the 2015 notes and the 2022 notes of approximately $10 million and $25 million per year, respectively, is payable semi-annually on june 1 and december 1 of each year, which commenced december 1, 2012. the 2015 notes and 2022 notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price. the 201cmake-whole 201d redemption price represents a price, subject to the specific terms of the 2015 and 2022 notes and related indenture, that is the greater of (a) par value and (b) the present value of future payments that will not be paid because of an early redemption, which is discounted at a fixed spread over a comparable treasury security. the 2015 notes and 2022 notes were issued at a discount of $5 million that is being amortized over the term of the notes. the company incurred approximately $7 million of debt issuance costs, which are being amortized over the respective terms of the 2015 notes and 2022 notes. at december 31, 2013, $5 million of unamortized debt issuance costs was included in other assets on the consolidated statement of financial condition. 2013 and 2021 notes. in may 2011, the company issued $1.5 billion in aggregate principal amount of unsecured unsubordinated obligations. these notes were issued as two separate series of senior debt securities including $750 million of 4.25% (4.25%) notes maturing in may 2021 and $750 million of floating rate notes (201c2013 floating rate notes 201d), which were repaid in may 2013 at maturity. net proceeds of this offering were used to fund the repurchase of blackrock 2019s series b preferred from affiliates of merrill lynch & co., inc. (201cmerrill lynch 201d). interest on the 4.25% (4.25%) notes due in 2021 (201c2021 notes 201d) is payable semi-annually on may 24 and november 24 of each year, which commenced november 24, 2011, and is approximately $32 million per year. the 2021 notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price. the 2021 notes were issued at a discount of $4 million that is being amortized over the term of the notes. the company incurred approximately $7 million of debt issuance costs for the $1.5 billion note issuances, which are being amortized over the respective terms of the notes. at december 31, 2013, $3 million of unamortized debt issuance costs was included in other assets on the consolidated statement of financial condition. in may 2011, in conjunction with the issuance of the 2013 floating rate notes, the company entered into a $750 million notional interest rate swap maturing in 2013 to hedge the future cash flows of its obligation at a fixed rate of 1.03% (1.03%). during the second quarter of 2013, the interest rate swap matured and the 2013 floating rate notes were fully repaid. 2012, 2014 and 2019 notes. in december 2009, the company issued $2.5 billion in aggregate principal amount of unsecured and unsubordinated obligations. these notes were issued as three separate series of senior debt securities including $0.5 billion of 2.25% (2.25%) notes, which were repaid in december 2012, $1.0 billion of 3.50% (3.50%) notes and $1.0 billion of 5.0% (5.0%) notes maturing in december 2014 and 2019, respectively. net proceeds of this offering were used to repay borrowings under the cp program, which was used to finance a portion of the acquisition of barclays global investors (201cbgi 201d) from barclays on december 1, 2009 (the 201cbgi transaction 201d), and for general corporate purposes. interest on the 2014 notes and 2019 notes of approximately $35 million and $50 million per year, respectively, is payable semi-annually in arrears on june 10 and december 10 of each year. these notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price. these notes were issued collectively at a discount of $5 million, which is being amortized over the respective terms of the notes. the company incurred approximately $13 million of debt issuance costs, which are being amortized over the respective terms of these notes. at december 31, 2013, $4 million of unamortized debt issuance costs was included in other assets on the consolidated statement of financial condition. 2017 notes. in september 2007, the company issued $700 million in aggregate principal amount of 6.25% (6.25%) senior unsecured and unsubordinated notes maturing on september 15, 2017 (the 201c2017 notes 201d). a portion of the net proceeds of the 2017 notes was used to fund the initial cash payment for the acquisition of the fund of funds business of quellos and the remainder was used for general corporate purposes. interest is payable semi-annually in arrears on march 15 and september 15 of each year, or approximately $44 million per year. the 2017 notes may be redeemed prior.
what is the difference between the fair and the carrying value of all notes? 345.0
and what was that carrying value for only the notes due in 2014? 1000.0
what was it for 2015? | 750.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | the analysis of our depreciation studies. changes in the estimated service lives of our assets and their related depreciation rates are implemented prospectively. under group depreciation, the historical cost (net of salvage) of depreciable property that is retired or replaced in the ordinary course of business is charged to accumulated depreciation and no gain or loss is recognized. the historical cost of certain track assets is estimated using (i) inflation indices published by the bureau of labor statistics and (ii) the estimated useful lives of the assets as determined by our depreciation studies. the indices were selected because they closely correlate with the major costs of the properties comprising the applicable track asset classes. because of the number of estimates inherent in the depreciation and retirement processes and because it is impossible to precisely estimate each of these variables until a group of property is completely retired, we continually monitor the estimated service lives of our assets and the accumulated depreciation associated with each asset class to ensure our depreciation rates are appropriate. in addition, we determine if the recorded amount of accumulated depreciation is deficient (or in excess) of the amount indicated by our depreciation studies. any deficiency (or excess) is amortized as a component of depreciation expense over the remaining service lives of the applicable classes of assets. for retirements of depreciable railroad properties that do not occur in the normal course of business, a gain or loss may be recognized if the retirement meets each of the following three conditions: (i) is unusual, (ii) is material in amount, and (iii) varies significantly from the retirement profile identified through our depreciation studies. a gain or loss is recognized in other income when we sell land or dispose of assets that are not part of our railroad operations. when we purchase an asset, we capitalize all costs necessary to make the asset ready for its intended use. however, many of our assets are self-constructed. a large portion of our capital expenditures is for replacement of existing track assets and other road properties, which is typically performed by our employees, and for track line expansion and other capacity projects. costs that are directly attributable to capital projects (including overhead costs) are capitalized. direct costs that are capitalized as part of self- constructed assets include material, labor, and work equipment. indirect costs are capitalized if they clearly relate to the construction of the asset. general and administrative expenditures are expensed as incurred. normal repairs and maintenance are also expensed as incurred, while costs incurred that extend the useful life of an asset, improve the safety of our operations or improve operating efficiency are capitalized. these costs are allocated using appropriate statistical bases. total expense for repairs and maintenance incurred was $2.4 billion for 2014, $2.3 billion for 2013, and $2.1 billion for 2012. assets held under capital leases are recorded at the lower of the net present value of the minimum lease payments or the fair value of the leased asset at the inception of the lease. amortization expense is computed using the straight-line method over the shorter of the estimated useful lives of the assets or the period of the related lease. 13. accounts payable and other current liabilities dec. 31, dec. 31, millions 2014 2013.
millions | dec. 31 2014 | dec. 312013
accounts payable | $877 | $803
dividends payable | 438 | 356
income and other taxes payable | 412 | 491
accrued wages and vacation | 409 | 385
accrued casualty costs | 249 | 207
interest payable | 178 | 169
equipment rents payable | 100 | 96
other | 640 | 579
total accounts payable and othercurrent liabilities | $3303 | $3086
.
what was the total expense for repairs and maintenance incurred in 2013? 2.3
and in 2012? 2.1
what was the difference between the two values? | 0.2 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | part ii item 5 2014market for registrant 2019s common equity and related stockholder matters market information. the common stock of the company is currently traded on the new york stock exchange (nyse) under the symbol 2018 2018aes. 2019 2019 the following tables set forth the high and low sale prices for the common stock as reported by the nyse for the periods indicated. price range of common stock.
2002 first quarter | high $17.84 | low $4.11 | 2001 first quarter | high $60.15 | low $41.30
second quarter | 9.17 | 3.55 | second quarter | 52.25 | 39.95
third quarter | 4.61 | 1.56 | third quarter | 44.50 | 12.00
fourth quarter | 3.57 | 0.95 | fourth quarter | 17.80 | 11.60
holders. as of march 3, 2003, there were 9663 record holders of the company 2019s common stock, par value $0.01 per share. dividends. under the terms of the company 2019s senior secured credit facilities entered into with a commercial bank syndicate, the company is not allowed to pay cash dividends. in addition, the company is precluded from paying cash dividends on its common stock under the terms of a guaranty to the utility customer in connection with the aes thames project in the event certain net worth and liquidity tests of the company are not met. the ability of the company 2019s project subsidiaries to declare and pay cash dividends to the company is subject to certain limitations in the project loans, governmental provisions and other agreements entered into by such project subsidiaries. securities authorized for issuance under equity compensation plans. see the information contained under the caption 2018 2018securities authorized for issuance under equity compensation plans 2019 2019 of the proxy statement for the annual meeting of stockholders of the registrant to be held on may 1, 2003, which information is incorporated herein by reference..
what was the variance in the price of common stock from low to high in the first quarter of 2002? 13.73
what was the high price of common stock in the first quarter of 2001? 60.15
and what was the low price? | 41.3 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | december 31, 2011, the company recognized a decrease of $3 million of tax-related interest and penalties and had approximately $16 million accrued at december 31, 2011. note 12 derivative instruments and fair value measurements the company is exposed to certain market risks such as changes in interest rates, foreign currency exchange rates, and commodity prices, which exist as a part of its ongoing business operations. management uses derivative financial and commodity instruments, including futures, options, and swaps, where appropriate, to manage these risks. instruments used as hedges must be effective at reducing the risk associated with the exposure being hedged and must be designated as a hedge at the inception of the contract. the company designates derivatives as cash flow hedges, fair value hedges, net investment hedges, and uses other contracts to reduce volatility in interest rates, foreign currency and commodities. as a matter of policy, the company does not engage in trading or speculative hedging transactions. total notional amounts of the company 2019s derivative instruments as of december 28, 2013 and december 29, 2012 were as follows:.
(millions) | 2013 | 2012
foreign currency exchange contracts | $517 | $570
interest rate contracts | 2400 | 2150
commodity contracts | 361 | 320
total | $3278 | $3040
following is a description of each category in the fair value hierarchy and the financial assets and liabilities of the company that were included in each category at december 28, 2013 and december 29, 2012, measured on a recurring basis. level 1 2014 financial assets and liabilities whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market. for the company, level 1 financial assets and liabilities consist primarily of commodity derivative contracts. level 2 2014 financial assets and liabilities whose values are based on quoted prices in markets that are not active or model inputs that are observable either directly or indirectly for substantially the full term of the asset or liability. for the company, level 2 financial assets and liabilities consist of interest rate swaps and over-the-counter commodity and currency contracts. the company 2019s calculation of the fair value of interest rate swaps is derived from a discounted cash flow analysis based on the terms of the contract and the interest rate curve. over-the-counter commodity derivatives are valued using an income approach based on the commodity index prices less the contract rate multiplied by the notional amount. foreign currency contracts are valued using an income approach based on forward rates less the contract rate multiplied by the notional amount. the company 2019s calculation of the fair value of level 2 financial assets and liabilities takes into consideration the risk of nonperformance, including counterparty credit risk. level 3 2014 financial assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. these inputs reflect management 2019s own assumptions about the assumptions a market participant would use in pricing the asset or liability. the company did not have any level 3 financial assets or liabilities as of december 28, 2013 or december 29, 2012..
what was the accrued value of tax related interest and penalties in 2011? 16.0
what was the value decrease during the year? 3.0
what is the sum? | 19.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | tissue pulp due to strong market demand, partic- ularly from asia. average sales price realizations improved significantly in 2007, principally reflecting higher average prices for softwood, hardwood and fluff pulp. operating earnings in 2007 were $104 mil- lion compared with $48 million in 2006 and $37 mil- lion in 2005. the benefits from higher sales price realizations were partially offset by increased input costs for energy, chemicals and freight. entering the first quarter of 2008, demand for market pulp remains strong, and average sales price realiza- tions should increase slightly. however, input costs for energy, chemicals and freight are expected to be higher, and increased spending is anticipated for planned mill maintenance outages. industrial packaging demand for industrial packaging products is closely correlated with non-durable industrial goods pro- duction, as well as with demand for processed foods, poultry, meat and agricultural products. in addition to prices and volumes, major factors affecting the profitability of industrial packaging are raw material and energy costs, freight costs, manufacturing effi- ciency and product mix. industrial packaging net sales for 2007 increased 6% (6%) to $5.2 billion compared with $4.9 bil- lion in 2006, and 13% (13%) compared with $4.6 billion in 2005. operating profits in 2007 were 26% (26%) higher than in 2006 and more than double 2005 earnings. bene- fits from improved price realizations ($147 million), sales volume increases net of increased lack of order downtime ($3 million), a more favorable mix ($31 million), strong mill and converting operations ($33 million) and other costs ($47 million) were partially offset by the effects of higher raw material costs ($76 million) and higher freight costs ($18 million). in addition, a gain of $13 million was recognized in 2006 related to a sale of property in spain and costs of $52 million were incurred in 2007 related to the conversion of the paper machine at pensacola to production of lightweight linerboard. the segment took 165000 tons of downtime in 2007 which included 16000 tons of market-related downtime compared with 135000 tons of downtime in 2006 of which none was market-related. industrial packaging in millions 2007 2006 2005.
in millions | 2007 | 2006 | 2005
sales | $5245 | $4925 | $4625
operating profit | $501 | $399 | $219
north american industrial packaging net sales for 2007 were $3.9 billion, compared with $3.7 billion in 2006 and $3.6 billion in 2005. operating profits in 2007 were $407 million, up from $327 mil- lion in 2006 and $170 million in 2005. containerboard shipments were higher in 2007 compared with 2006, including production from the paper machine at pensacola that was converted to lightweight linerboard during 2007. average sales price realizations were significantly higher than in 2006 reflecting price increases announced early in 2006 and in the third quarter of 2007. margins improved reflecting stronger export demand. manu- facturing performance was strong, although costs associated with planned mill maintenance outages were higher due to timing of outages. raw material costs for wood, energy, chemicals and recycled fiber increased significantly. operating results for 2007 were also unfavorably impacted by $52 million of costs associated with the conversion and startup of the pensacola paper machine. u.s. converting sales volumes were slightly lower in 2007 compared with 2006 reflecting softer customer box demand. earnings improvement in 2007 bene- fited from the realization of box price increases announced in early 2006 and late 2007. favorable manufacturing operations and higher sales prices for waste fiber more than offset significantly higher raw material and freight costs. looking ahead to the first quarter of 2008, sales volumes are expected to increase slightly, and results should benefit from a full-quarter impact of the price increases announced in the third quarter of 2007. however, additional mill maintenance outages are planned for the first quarter, and freight and input costs are expected to rise, particularly for wood and energy. manufacturing operations should be favorable compared with the fourth quarter. european industrial packaging net sales for 2007 were $1.1 billion, up from $1.0 billion in 2006 and $880 million in 2005. sales volumes were about flat as early stronger demand in the industrial segment weakened in the second half of the year. operating profits in 2007 were $88 million compared with $69 million in 2006 and $53 million in 2005. sales margins improved reflecting increased sales prices for boxes. conversion costs were favorable as the result of manufacturing improvement programs. entering the first quarter of 2008, sales volumes should be strong seasonally across all regions as the winter fruit and vegetable season continues. profit margins, however, are expected to be somewhat lower..
in the year of 2007, what was the amount of the industrial packaging sales that was from europe, in millions? | 1100.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | repurchase of equity securities the following table provides information regarding our purchases of equity securities during the fourth quarter of 2008: number of shares purchased average paid per share2 total number of shares purchased as part of publicly announced plans or programs maximum number of shares that may yet be purchased under the plans or programs.
- | total number of shares purchased | average price paid per share2 | total number of shares purchased as part of publicly announced plans or programs | maximum number ofshares that may yet be purchased under the plans or programs
october 1-31 | 29704 | $5.99 | 2014 | 2014
november 1-30 | 4468 | $3.24 | 2014 | 2014
december 1-31 | 12850 | $3.98 | 2014 | 2014
total1 | 47022 | $5.18 | 2014 | 2014
total1................................ 47022 $5.18 2014 2014 1 consists of restricted shares of our common stock withheld under the terms of grants under employee stock compensation plans to offset tax withholding obligations that occurred upon vesting and release of restricted shares during each month of the fourth quarter of 2008 (the 201cwithheld shares 201d). 2 the average price per month of the withheld shares was calculated by dividing the aggregate value of the tax withholding obligations for each month by the aggregate number of shares of our common stock withheld each month..
what is the sum of the average price per share in november and december? | 7.22 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | notes to consolidated financial statements 2014 (continued) (amounts in millions, except per share amounts) a summary of the remaining liability for the 2007, 2003 and 2001 restructuring programs is as follows: program program program total.
- | 2007 program | 2003 program | 2001 program | total
liability at december 31 2006 | $2014 | $12.6 | $19.2 | $31.8
net charges (reversals) and adjustments | 19.1 | -0.5 (0.5) | -5.2 (5.2) | 13.4
payments and other1 | -7.2 (7.2) | -3.1 (3.1) | -5.3 (5.3) | -15.6 (15.6)
liability at december 31 2007 | $11.9 | $9.0 | $8.7 | $29.6
net charges and adjustments | 4.3 | 0.8 | 0.7 | 5.8
payments and other1 | -15.0 (15.0) | -4.1 (4.1) | -3.5 (3.5) | -22.6 (22.6)
liability at december 31 2008 | $1.2 | $5.7 | $5.9 | $12.8
1 includes amounts representing adjustments to the liability for changes in foreign currency exchange rates. other reorganization-related charges other reorganization-related charges relate to our realignment of our media businesses into a newly created management entity called mediabrands and the 2006 merger of draft worldwide and foote, cone and belding worldwide to create draftfcb. charges related to severance and terminations costs and lease termination and other exit costs. we expect charges associated with mediabrands to be completed during the first half of 2009. charges related to the creation of draftfcb in 2006 are complete. the charges were separated from the rest of our operating expenses within the consolidated statements of operations because they did not result from charges that occurred in the normal course of business..
what was the total liability by the end of 2008? 29.6
and what was it by the end of 2007? 12.8
what was, then, the change over the year? 16.8
what was the total liability by the end of 2008? | 29.6 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | impairment the following table presents net unrealized losses on securities available for sale as of december 31:.
(in millions) | 2011 | 2010
fair value | $99832 | $81881
amortized cost | 100013 | 82329
net unrealized loss pre-tax | $-181 (181) | $-448 (448)
net unrealized loss after-tax | $-113 (113) | $-270 (270)
the net unrealized amounts presented above excluded the remaining net unrealized losses related to reclassifications of securities available for sale to securities held to maturity. these unrealized losses related to reclassifications totaled $303 million, or $189 million after-tax, and $523 million, or $317 million after-tax, as of december 31, 2011 and 2010, respectively, and were recorded in accumulated other comprehensive income, or oci. refer to note 12 to the consolidated financial statements included under item 8. the decline in these remaining after-tax unrealized losses related to reclassifications from december 31, 2010 to december 31, 2011 resulted primarily from amortization. we conduct periodic reviews of individual securities to assess whether other-than-temporary impairment exists. to the extent that other-than-temporary impairment is identified, the impairment is broken into a credit component and a non-credit component. the credit component is recorded in our consolidated statement of income, and the non-credit component is recorded in oci to the extent that we do not intend to sell the security. our assessment of other-than-temporary impairment involves an evaluation, more fully described in note 3, of economic and security-specific factors. such factors are based on estimates, derived by management, which contemplate current market conditions and security-specific performance. to the extent that market conditions are worse than management 2019s expectations, other-than-temporary impairment could increase, in particular, the credit component that would be recorded in our consolidated statement of income. given the exposure of our investment securities portfolio, particularly mortgage- and asset-backed securities, to residential mortgage and other consumer credit risks, the performance of the u.s. housing market is a significant driver of the portfolio 2019s credit performance. as such, our assessment of other-than-temporary impairment relies to a significant extent on our estimates of trends in national housing prices. generally, indices that measure trends in national housing prices are published in arrears. as of september 30, 2011, national housing prices, according to the case-shiller national home price index, had declined by approximately 31.3% (31.3%) peak-to-current. overall, management 2019s expectation, for purposes of its evaluation of other-than-temporary impairment as of december 31, 2011, was that housing prices would decline by approximately 35% (35%) peak-to-trough. the performance of certain mortgage products and vintages of securities continues to deteriorate. in addition, management continues to believe that housing prices will decline further as indicated above. the combination of these factors has led to an increase in management 2019s overall loss expectations. our investment portfolio continues to be sensitive to management 2019s estimates of future cumulative losses. ultimately, other-than- temporary impairment is based on specific cusip-level detailed analysis of the unique characteristics of each security. in addition, we perform sensitivity analysis across each significant product type within the non-agency u.s. residential mortgage-backed portfolio. we estimate, for example, that other-than-temporary impairment of the investment portfolio could increase by approximately $10 million to $50 million, if national housing prices were to decline by 37% (37%) to 39% (39%) peak-to-trough, compared to management 2019s expectation of 35% (35%) described above. this sensitivity estimate is based on a number of factors, including, but not limited to, the level of housing prices and the timing of defaults. to the extent that such factors differ substantially from management 2019s current expectations, resulting loss estimates may differ materially from those stated. excluding the securities for which other-than-temporary impairment was recorded in 2011, management considers the aggregate decline in fair value of the remaining.
what was the total of unrealized losses related to reclassifications in 2011, before tax? | 303.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | south america. approximately 26% (26%) of 2017 net sales were to international markets. this segment sells directly through its own sales force and indirectly through independent manufacturers 2019 representatives, primarily to wholesalers, home centers, mass merchandisers and industrial distributors. in aggregate, sales to the home depot and lowe 2019s comprised approximately 23% (23%) of net sales of the plumbing segment in 2017. this segment 2019s chief competitors include delta (owned by masco), kohler, pfister (owned by spectrum brands), american standard (owned by lixil group), insinkerator (owned by emerson electronic company) and imported private-label brands. doors. our doors segment manufactures and sells fiberglass and steel entry door systems under the therma-tru brand and urethane millwork product lines under the fypon brand. this segment benefits from the long-term trend away from traditional materials, such as wood, steel and aluminum, toward more energy-efficient and durable synthetic materials. therma-tru products include fiberglass and steel residential entry door and patio door systems, primarily for sale in the u.s. and canada. this segment 2019s principal customers are home centers, millwork building products and wholesale distributors, and specialty dealers that provide products to the residential new construction market, as well as to the remodeling and renovation markets. in aggregate, sales to the home depot and lowe 2019s comprised approximately 14% (14%) of net sales of the doors segment in 2017. this segment 2019s competitors include masonite, jeld-wen, plastpro and pella. security. our security segment 2019s products consist of locks, safety and security devices, and electronic security products manufactured, sourced and distributed primarily under the master lock brand and fire resistant safes, security containers and commercial cabinets manufactured, sourced and distributed under the sentrysafe brand. this segment sells products principally in the u.s., canada, europe, central america, japan and australia. approximately 25% (25%) of 2017 net sales were to international markets. this segment manufactures and sells key-controlled and combination padlocks, bicycle and cable locks, built-in locker locks, door hardware, automotive, trailer and towing locks, electronic access control solutions, and other specialty safety and security devices for consumer use to hardware, home center and other retail outlets. in addition, the segment sells lock systems and fire resistant safes to locksmiths, industrial and institutional users, and original equipment manufacturers. in aggregate, sales to the home depot and lowe 2019s comprised approximately 18% (18%) of the net sales of the security segment in 2017. master lock competes with abus, w.h. brady, hampton, kwikset (owned by spectrum brands), schlage (owned by allegion), assa abloy and various imports, and sentrysafe competes with first alert, magnum, fortress, stack-on and fire king. annual net sales for each of the last three fiscal years for each of our business segments were as follows: (in millions) 2017 2016 2015.
(in millions) | 2017 | 2016 | 2015
cabinets | $2467.1 | $2397.8 | $2173.4
plumbing | 1720.8 | 1534.4 | 1414.5
doors | 502.9 | 473.0 | 439.1
security | 592.5 | 579.7 | 552.4
total | $5283.3 | $4984.9 | $4579.4
for additional financial information for each of our business segments, refer to note 18, 201cinformation on business segments, 201d to the consolidated financial statements in item 8 of this annual report on form other information raw materials. the table below indicates the principal raw materials used by each of our segments. these materials are available from a number of sources. volatility in the prices of commodities and energy used in making and distributing our products impacts the cost of manufacturing our products..
in the year of 2017, what percentage of the net sales were for international markets? 0.25
and what were those net sales? 5283.3
what, then, was the amount correspondent to that percentage? 1320.825
and from 2016 to that year, what was the increase in the sales of cabinets? | 69.3 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | increased investment in programming to support subscriber growth, higher offer costs and continued investment in presto, partially offset by lower depreciation expense resulting from foxtel 2019s reassessment of the useful lives of cable and satellite installations. net income decreased as a result of the lower operating income noted above, partially offset by lower income tax expense. (b) other equity affiliates, net for the fiscal year ended june 30, 2016 includes losses primarily from the company 2019s interests in draftstars and elara technologies, which owns proptiger. interest, net 2014interest, net for the fiscal year ended june 30, 2016 decreased $13 million, or 23% (23%), as compared to fiscal 2015, primarily due to the negative impact of foreign currency fluctuations and interest expense associated with the rea facility. (see note 9 to the consolidated financial statements). other, net 2014 for the fiscal years ended june 30.
(in millions) | for the fiscal years ended june 30, 2016 | for the fiscal years ended june 30, 2015
gain on iproperty transaction (a) | $29 | $2014
impairment of marketable securities and cost method investments (b) | -21 (21) | -5 (5)
gain on sale of marketable securities (c) | 2014 | 29
dividends received from cost method investments | 2014 | 25
gain on sale of cost method investments | 2014 | 15
other | 10 | 11
total other net | $18 | $75
(a) rea group recognized a gain of $29 million resulting from the revaluation of its previously held equity interest in iproperty during the fiscal year ended june 30, 2016. (see note 3 to the consolidated financial statements). (b) the company recorded write-offs and impairments of certain investments in the fiscal years ended june 30, 2016 and 2015. these write-offs and impairments were taken either as a result of the deteriorating financial position of the investee or due to an other-than-temporary impairment resulting from sustained losses and limited prospects for recovery. (see note 6 to the consolidated financial statements.) (c) in august 2014, rea group completed the sale of a minority interest held in marketable securities for total cash consideration of $104 million. as a result of the sale, rea group recognized a pre-tax gain of $29 million, which was reclassified out of accumulated other comprehensive income and included in other, net in the statement of operations. income tax benefit (expense) 2014the company 2019s income tax benefit and effective tax rate for the fiscal year ended june 30, 2016 were $54 million and (30% (30%)), respectively, as compared to an income tax expense and effective tax rate of $185 million and 34% (34%), respectively, for fiscal 2015. for the fiscal years ended june 30, 2016 the company recorded a tax benefit of $54 million on pre-tax income of $181 million resulting in an effective tax rate that was lower than the u.s. statutory tax. the lower tax rate was primarily due to a tax benefit of approximately $106 million related to the release of previously established valuation allowances related to certain u.s. federal net operating losses and state deferred tax assets. this benefit was recognized in conjunction with management 2019s plan to dispose of the company 2019s digital education business in the first quarter of fiscal 2016, as the company now expects to generate sufficient u.s. taxable income to utilize these deferred tax assets prior to expiration. in addition, the effective tax rate was also impacted by the $29 million non-taxable gain resulting from the revaluation of rea group 2019s previously held equity interest in iproperty. for the fiscal year ended june 30, 2015, the company 2019s effective tax rate was lower than the u.s. statutory tax rate primarily due to the impact from foreign operations which are subject to lower tax rates, partially offset by the impact of nondeductible items and changes in our accrued liabilities for uncertain tax positions. (see note 18 to the consolidated financial statements)..
what was the decrease amount on the net interest from fiscal year 2015 to 2016? | 13.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | material impact on the service cost and interest cost components of net periodic benefit costs for a 1% (1%) change in the assumed health care trend rate. for most of the participants in the u.s. plan, aon 2019s liability for future plan cost increases for pre-65 and medical supplement plan coverage is limited to 5% (5%) per annum. because of this cap, net employer trend rates for these plans are effectively limited to 5% (5%) per year in the future. during 2007, aon recognized a plan amendment which phases out post-65 retiree coverage in its u.s. plan over the next three years. the impact of this amendment on net periodic benefit cost is being recognized over the average remaining service life of the employees. 14. stock compensation plans the following table summarizes stock-based compensation expense recognized in continuing operations in the consolidated statements of income in compensation and benefits (in millions):.
years ended december 31 | 2010 | 2009 | 2008
rsus | $138 | $124 | $132
performance plans | 62 | 60 | 67
stock options | 17 | 21 | 24
employee stock purchase plans | 4 | 4 | 3
total stock-based compensation expense | 221 | 209 | 226
tax benefit | 75 | 68 | 82
stock-based compensation expense net of tax | $146 | $141 | $144
during 2009, the company converted its stock administration system to a new service provider. in connection with this conversion, a reconciliation of the methodologies and estimates utilized was performed, which resulted in a $12 million reduction of expense for the year ended december 31, 2009. stock awards stock awards, in the form of rsus, are granted to certain employees and consist of both performance-based and service-based rsus. service-based awards generally vest between three and ten years from the date of grant. the fair value of service-based awards is based upon the market value of the underlying common stock at the date of grant. with certain limited exceptions, any break in continuous employment will cause the forfeiture of all unvested awards. compensation expense associated with stock awards is recognized over the service period. dividend equivalents are paid on certain service-based rsus, based on the initial grant amount. performance-based rsus have been granted to certain employees. vesting of these awards is contingent upon meeting various individual, divisional or company-wide performance conditions, including revenue generation or growth in revenue, pretax income or earnings per share over a one- to five-year period. the performance conditions are not considered in the determination of the grant date fair value for these awards. the fair value of performance-based awards is based upon the market price of the underlying common stock at the date of grant. compensation expense is recognized over the performance period, and in certain cases an additional vesting period, based on management 2019s estimate of the number of units expected to vest. compensation expense is adjusted to reflect the actual number of shares paid out at the end of the programs. the actual payout of shares under these performance- based plans may range from 0-200% (0-200%) of the number of units granted, based on the plan. dividend equivalents are generally not paid on the performance-based rsus. during 2010, the company granted approximately 1.6 million shares in connection with the completion of the 2007 leadership performance plan (2018 2018lpp 2019 2019) cycle and 84000 shares related to other performance plans. during 2010, 2009 and 2008, the company granted approximately 3.5 million.
what was the change in the rsus from 2009 to 2010? | 14.0 |
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly. | item 7a. quantitative and qualitative disclosures about market risk (amounts in millions) in the normal course of business, we are exposed to market risks related to interest rates, foreign currency rates and certain balance sheet items. from time to time, we use derivative instruments, pursuant to established guidelines and policies, to manage some portion of these risks. derivative instruments utilized in our hedging activities are viewed as risk management tools and are not used for trading or speculative purposes. interest rates our exposure to market risk for changes in interest rates relates primarily to the fair market value and cash flows of our debt obligations. the majority of our debt (approximately 89% (89%) and 91% (91%) as of december 31, 2015 and 2014, respectively) bears interest at fixed rates. we do have debt with variable interest rates, but a 10% (10%) increase or decrease in interest rates would not be material to our interest expense or cash flows. the fair market value of our debt is sensitive to changes in interest rates, and the impact of a 10% (10%) change in interest rates is summarized below. increase/ (decrease) in fair market value as of december 31, 10% (10%) increase in interest rates 10% (10%) decrease in interest rates.
as of december 31, | increase/ (decrease) in fair market value 10% (10%) increasein interest rates | increase/ (decrease) in fair market value 10% (10%) decreasein interest rates
2015 | $-33.7 (33.7) | $34.7
2014 | -35.5 (35.5) | 36.6
we have used interest rate swaps for risk management purposes to manage our exposure to changes in interest rates. we do not have any interest rate swaps outstanding as of december 31, 2015. we had $1509.7 of cash, cash equivalents and marketable securities as of december 31, 2015 that we generally invest in conservative, short-term bank deposits or securities. the interest income generated from these investments is subject to both domestic and foreign interest rate movements. during 2015 and 2014, we had interest income of $22.8 and $27.4, respectively. based on our 2015 results, a 100-basis-point increase or decrease in interest rates would affect our interest income by approximately $15.0, assuming that all cash, cash equivalents and marketable securities are impacted in the same manner and balances remain constant from year-end 2015 levels. foreign currency rates we are subject to translation and transaction risks related to changes in foreign currency exchange rates. since we report revenues and expenses in u.s. dollars, changes in exchange rates may either positively or negatively affect our consolidated revenues and expenses (as expressed in u.s. dollars) from foreign operations. the primary foreign currencies that impacted our results during 2015 included the australian dollar, brazilian real, british pound sterling and euro. based on 2015 exchange rates and operating results, if the u.s. dollar were to strengthen or weaken by 10% (10%), we currently estimate operating income would decrease or increase approximately 4% (4%), assuming that all currencies are impacted in the same manner and our international revenue and expenses remain constant at 2015 levels. the functional currency of our foreign operations is generally their respective local currency. assets and liabilities are translated at the exchange rates in effect at the balance sheet date, and revenues and expenses are translated at the average exchange rates during the period presented. the resulting translation adjustments are recorded as a component of accumulated other comprehensive loss, net of tax, in the stockholders 2019 equity section of our consolidated balance sheets. our foreign subsidiaries generally collect revenues and pay expenses in their functional currency, mitigating transaction risk. however, certain subsidiaries may enter into transactions in currencies other than their functional currency. assets and liabilities denominated in currencies other than the functional currency are susceptible to movements in foreign currency until final settlement. currency transaction gains or losses primarily arising from transactions in currencies other than the functional currency are included in office and general expenses. we regularly review our foreign exchange exposures that may have a material impact on our business and from time to time use foreign currency forward exchange contracts or other derivative financial instruments to hedge the effects of potential adverse fluctuations in foreign currency exchange rates arising from these exposures. we do not enter into foreign exchange contracts or other derivatives for speculative purposes..
what is the net change in value of interest income from 2014 to 2015? -4.6
what is that change over the 2014 interest income? | -0.16788 |