the fair value of the interest agreements at december 31 , 2007 and december 31 , 2006 was $ 3 million and $ 1 million , respectively .
the company is exposed to credit loss in the event of nonperformance by the counterparties to its swap contracts .
the company minimizes its credit risk on these transactions by only dealing with leading , creditworthy financial institutions and does not anticipate nonperformance .
in addition , the contracts are distributed among several financial institutions , all of whom presently have investment grade credit ratings , thus minimizing credit risk concentration .
stockholders 2019 equity derivative instruments activity , net of tax , included in non-owner changes to equity within the consolidated statements of stockholders 2019 equity for the years ended december 31 , 2007 and 2006 is as follows: .

2007
2006
2005
balance at january 1
$ 16
$ 2
$ -272 ( 272 )
increase ( decrease ) in fair value
-6 ( 6 )
75
28
reclassifications to earnings
-10 ( 10 )
-61 ( 61 )
246
balance at december 31
$ 2014
$ 16
$ 2

net investment in foreign operations hedge at december 31 , 2007 and 2006 , the company did not have any hedges of foreign currency exposure of net investments in foreign operations .
investments hedge during the first quarter of 2006 , the company entered into a zero-cost collar derivative ( the 201csprint nextel derivative 201d ) to protect itself economically against price fluctuations in its 37.6 million shares of sprint nextel corporation ( 201csprint nextel 201d ) non-voting common stock .
during the second quarter of 2006 , as a result of sprint nextel 2019s spin-off of embarq corporation through a dividend to sprint nextel shareholders , the company received approximately 1.9 million shares of embarq corporation .
the floor and ceiling prices of the sprint nextel derivative were adjusted accordingly .
the sprint nextel derivative was not designated as a hedge under the provisions of sfas no .
133 , 201caccounting for derivative instruments and hedging activities . 201d accordingly , to reflect the change in fair value of the sprint nextel derivative , the company recorded a net gain of $ 99 million for the year ended december 31 , 2006 , included in other income ( expense ) in the company 2019s consolidated statements of operations .
in december 2006 , the sprint nextel derivative was terminated and settled in cash and the 37.6 million shares of sprint nextel were converted to common shares and sold .
the company received aggregate cash proceeds of approximately $ 820 million from the settlement of the sprint nextel derivative and the subsequent sale of the 37.6 million sprint nextel shares .
the company recognized a loss of $ 126 million in connection with the sale of the remaining shares of sprint nextel common stock .
as described above , the company recorded a net gain of $ 99 million in connection with the sprint nextel derivative .
prior to the merger of sprint corporation ( 201csprint 201d ) and nextel communications , inc .
( 201cnextel 201d ) , the company had entered into variable share forward purchase agreements ( the 201cvariable forwards 201d ) to hedge its nextel common stock .
the company did not designate the variable forwards as a hedge of the sprint nextel shares received as a result of the merger .
accordingly , the company recorded $ 51 million of gains for the year ended december 31 , 2005 reflecting the change in value of the variable forwards .
the variable forwards were settled during the fourth quarter of 2005 .
fair value of financial instruments the company 2019s financial instruments include cash equivalents , sigma fund investments , short-term investments , accounts receivable , long-term finance receivables , accounts payable , accrued liabilities , derivatives and other financing commitments .
the company 2019s sigma fund and investment portfolios and derivatives are recorded in the company 2019s consolidated balance sheets at fair value .
all other financial instruments , with the exception of long-term debt , are carried at cost , which is not materially different than the instruments 2019 fair values. .

Question: what is the percent change in stockholders 2019 equity derivative between january and december 2006?
Answer: 700%

Question: what is the percent change in increase of fair value between 2005 and 2006?