MehdiHosseiniMoghadam/ConvFinQA huggingface dataset:
course of business , we actively manage our exposure to these market risks by entering into various hedging transactions , authorized under established policies that place clear controls on these activities .
the counterparties in these transactions are generally highly rated institutions .
we establish credit limits for each counterparty .
our hedging transactions include but are not limited to a variety of derivative financial instruments .
for information on interest rate , foreign exchange , commodity price , and equity instrument risk , please see note 7 to the consolidated financial statements in item 8 of this report .
value at risk the estimates in the table below are intended to measure the maximum potential fair value we could lose in one day from adverse changes in market interest rates , foreign exchange rates , commodity prices , and equity prices under normal market conditions .
a monte carlo value-at-risk ( var ) methodology was used to quantify the market risk for our exposures .
the models assumed normal market conditions and used a 95 percent confidence level .
the var calculation used historical interest and foreign exchange rates , and commodity and equity prices from the past year to estimate the potential volatility and correlation of these rates in the future .
the market data were drawn from the riskmetrics 2122 data set .
the calculations are not intended to represent actual losses in fair value that we expect to incur .
further , since the hedging instrument ( the derivative ) inversely correlates with the underlying exposure , we would expect that any loss or gain in the fair value of our derivatives would be generally offset by an increase or decrease in the fair value of the underlying exposure .
the positions included in the calculations were : debt ; investments ; interest rate swaps ; foreign exchange forwards ; commodity swaps , futures , and options ; and equity instruments .
the calculations do not include the underlying foreign exchange and commodities or equity-related positions that are offset by these market-risk-sensitive instruments .
the table below presents the estimated maximum potential var arising from a one-day loss in fair value for our interest rate , foreign currency , commodity , and equity market-risk-sensitive instruments outstanding as of may 27 , 2018 and may 28 , 2017 , and the average fair value impact during the year ended may 27 , 2018. .

in millions
fair value impact may 27 2018
fair value impact averageduringfiscal 2018
fair value impact may 282017
interest rate instruments
$ 33.2
$ 27.5
$ 25.1
foreign currency instruments
21.3
23.1
24.6
commodity instruments
1.9
2.1
3.2
equity instruments
2.0
1.4
1.3

.

Question: what is the total fair value impact for all instruments as of may 27 , 2018?
Answer: 58.4
performance graph the graph below compares the cumulative total shareholder return on pmi's common stock with the cumulative total return for the same period of pmi's peer group and the s&p 500 index .
the graph assumes the investment of $ 100 as of december 31 , 2012 , in pmi common stock ( at prices quoted on the new york stock exchange ) and each of the indices as of the market close and reinvestment of dividends on a quarterly basis .
date pmi pmi peer group ( 1 ) s&p 500 index .

date
pmi
pmi peer group ( 1 )
s&p 500 index
december 31 2012
$ 100.00
$ 100.00
$ 100.00
december 31 2013
$ 108.50
$ 122.80
$ 132.40
december 31 2014
$ 106.20
$ 132.50
$ 150.50
december 31 2015
$ 120.40
$ 143.50
$ 152.60
december 31 2016
$ 130.80
$ 145.60
$ 170.80
december 31 2017
$ 156.80
$ 172.70
$ 208.10

( 1 ) the pmi peer group presented in this graph is the same as that used in the prior year , except reynolds american inc .
was removed following the completion of its acquisition by british american tobacco p.l.c .
on july 25 , 2017 .
the pmi peer group was established based on a review of four characteristics : global presence ; a focus on consumer products ; and net revenues and a market capitalization of a similar size to those of pmi .
the review also considered the primary international tobacco companies .
as a result of this review , the following companies constitute the pmi peer group : altria group , inc. , anheuser-busch inbev sa/nv , british american tobacco p.l.c. , the coca-cola company , colgate-palmolive co. , diageo plc , heineken n.v. , imperial brands plc , japan tobacco inc. , johnson & johnson , kimberly-clark corporation , the kraft-heinz company , mcdonald's corp. , mondel z international , inc. , nestl e9 s.a. , pepsico , inc. , the procter & gamble company , roche holding ag , and unilever nv and plc .
note : figures are rounded to the nearest $ 0.10. .

Question: what was the percentage cumulative total shareholder return on pmi's common stock for the five years ended december 31 , 2017?
Answer: 56.80%

Question: what is the growth rate in pmi's share price from 2014 to 2015?
Answer: 13.4%

Question: what was the difference in percentage cumulative total shareholder return on pmi's common stock versus the s&p 500 index for the five years ended december 31 , 2017?
Answer: -51.3%

Question: what is the growth rate in pmi's share price from 2012 to 2013?
Answer: 8.5%
table of contents company stock performance the following graph shows a comparison of cumulative total shareholder return , calculated on a dividend reinvested basis , for the company , the s&p 500 index , the s&p information technology index and the dow jones u.s .
technology supersector index for the five years ended september 26 , 2015 .
the graph assumes $ 100 was invested in each of the company 2019s common stock , the s&p 500 index , the s&p information technology index and the dow jones u.s .
technology supersector index as of the market close on september 24 , 2010 .
note that historic stock price performance is not necessarily indicative of future stock price performance .
* $ 100 invested on 9/25/10 in stock or index , including reinvestment of dividends .
data points are the last day of each fiscal year for the company 2019scommon stock and september 30th for indexes .
copyright a9 2015 s&p , a division of mcgraw hill financial .
all rights reserved .
copyright a9 2015 dow jones & co .
all rights reserved .
september september september september september september .

september 2010
september 2011
september 2012
september 2013
september 2014
september 2015
apple inc .
$ 100
$ 138
$ 229
$ 170
$ 254
$ 294
s&p 500 index
$ 100
$ 101
$ 132
$ 157
$ 188
$ 187
s&p information technology index
$ 100
$ 104
$ 137
$ 147
$ 190
$ 194
dow jones u.s . technology supersector index
$ 100
$ 103
$ 134
$ 141
$ 183
$ 183

apple inc .
| 2015 form 10-k | 21 .

Question: what was the percentage cumulative total shareholder return for the four years ended 2014?
Answer: 154%
2006 plan prior to december 5 , 2008 became fully vested and nonforfeitable upon the closing of the acquisition .
awards may be granted under the 2006 plan , as amended and restated , after december 5 , 2008 only to employees and consultants of allied waste industries , inc .
and its subsidiaries who were not employed by republic services , inc .
prior to such date .
at december 31 , 2010 , there were approximately 15.3 million shares of common stock reserved for future grants under the 2006 plan .
stock options we use a binomial option-pricing model to value our stock option grants .
we recognize compensation expense on a straight-line basis over the requisite service period for each separately vesting portion of the award , or to the employee 2019s retirement eligible date , if earlier .
expected volatility is based on the weighted average of the most recent one-year volatility and a historical rolling average volatility of our stock over the expected life of the option .
the risk-free interest rate is based on federal reserve rates in effect for bonds with maturity dates equal to the expected term of the option .
we use historical data to estimate future option exercises , forfeitures and expected life of the options .
when appropriate , separate groups of employees that have similar historical exercise behavior are considered separately for valuation purposes .
the weighted-average estimated fair values of stock options granted during the years ended december 31 , 2010 , 2009 and 2008 were $ 5.28 , $ 3.79 and $ 4.36 per option , respectively , which were calculated using the following weighted-average assumptions: .

2010
2009
2008
expected volatility
28.6% ( 28.6 % )
28.7% ( 28.7 % )
27.3% ( 27.3 % )
risk-free interest rate
2.4% ( 2.4 % )
1.4% ( 1.4 % )
1.7% ( 1.7 % )
dividend yield
2.9% ( 2.9 % )
3.1% ( 3.1 % )
2.9% ( 2.9 % )
expected life ( in years )
4.3
4.2
4.2
contractual life ( in years )
7
7
7
expected forfeiture rate
3.0% ( 3.0 % )
3.0% ( 3.0 % )
3.0% ( 3.0 % )

republic services , inc .
notes to consolidated financial statements , continued .

Question: what was the percentage growth in the weighted-average estimated fair values of stock options granted from 2009 to 2010
Answer: 39.3%
republic services , inc .
notes to consolidated financial statements 2014 ( continued ) in december 2008 , the board of directors amended and restated the republic services , inc .
2006 incentive stock plan ( formerly known as the allied waste industries , inc .
2006 incentive stock plan ( the 2006 plan ) ) .
allied 2019s shareholders approved the 2006 plan in may 2006 .
the 2006 plan was amended and restated in december 2008 to reflect republic as the new sponsor of the plan , and that any references to shares of common stock are to shares of common stock of republic , and to adjust outstanding awards and the number of shares available under the plan to reflect the allied acquisition .
the 2006 plan , as amended and restated , provided for the grant of non- qualified stock options , incentive stock options , shares of restricted stock , shares of phantom stock , stock bonuses , restricted stock units , stock appreciation rights , performance awards , dividend equivalents , cash awards , or other stock-based awards .
awards granted under the 2006 plan prior to december 5 , 2008 became fully vested and nonforfeitable upon the closing of the allied acquisition .
no further awards will be made under the 2006 stock options we use a lattice binomial option-pricing model to value our stock option grants .
we recognize compensation expense on a straight-line basis over the requisite service period for each separately vesting portion of the award , or to the employee 2019s retirement eligible date , if earlier .
expected volatility is based on the weighted average of the most recent one year volatility and a historical rolling average volatility of our stock over the expected life of the option .
the risk-free interest rate is based on federal reserve rates in effect for bonds with maturity dates equal to the expected term of the option .
we use historical data to estimate future option exercises , forfeitures ( at 3.0% ( 3.0 % ) for each of the periods presented ) and expected life of the options .
when appropriate , separate groups of employees that have similar historical exercise behavior are considered separately for valuation purposes .
the weighted-average estimated fair values of stock options granted during the years ended december 31 , 2014 , 2013 and 2012 were $ 5.74 , $ 5.27 and $ 4.77 per option , respectively , which were calculated using the following weighted-average assumptions: .

2014
2013
2012
expected volatility
27.5% ( 27.5 % )
28.9% ( 28.9 % )
27.8% ( 27.8 % )
risk-free interest rate
1.4% ( 1.4 % )
0.7% ( 0.7 % )
0.8% ( 0.8 % )
dividend yield
3.2% ( 3.2 % )
3.2% ( 3.2 % )
3.2% ( 3.2 % )
expected life ( in years )
4.6
4.5
4.5
contractual life ( in years )
7.0
7.0
7.0

.

Question: what was the percentage change in the weighted-average estimated fair values of stock options granted from 2013 to 2014
Answer: 8.9%

Question: what was the percentage change in the expected volatility from 2012 to 2013
Answer: 3.95%
notes to consolidated financial statements 2014 ( continued ) note 14 2014commitments and contingencies leases we conduct a major part of our operations using leased facilities and equipment .
many of these leases have renewal and purchase options and provide that we pay the cost of property taxes , insurance and maintenance .
rent expense on all operating leases for fiscal 2010 , 2009 and 2008 was $ 32.8 million , $ 30.2 million , and $ 30.4 million , respectively .
future minimum lease payments for all noncancelable leases at may 31 , 2010 were as follows : operating leases .

operating leases
2011
$ 9856
2012
3803
2013
2538
2014
1580
2015
928
thereafter
1428
total future minimum lease payments
$ 20133

we are party to a number of claims and lawsuits incidental to our business .
in the opinion of management , the reasonably possible outcome of such matters , individually or in the aggregate , will not have a material adverse impact on our financial position , liquidity or results of operations .
we define operating taxes as tax contingencies that are unrelated to income taxes , such as sales and property taxes .
during the course of operations , we must interpret the meaning of various operating tax matters in the united states and in the foreign jurisdictions in which we do business .
taxing authorities in those various jurisdictions may arrive at different interpretations of applicable tax laws and regulations as they relate to such operating tax matters , which could result in the payment of additional taxes in those jurisdictions .
as of may 31 , 2010 and 2009 we did not have a liability for operating tax items .
the amount of the liability is based on management 2019s best estimate given our history with similar matters and interpretations of current laws and regulations .
bin/ica agreements in connection with our acquisition of merchant credit card operations of banks , we have entered into sponsorship or depository and processing agreements with certain of the banks .
these agreements allow us to use the banks 2019 identification numbers , referred to as bank identification number for visa transactions and interbank card association number for mastercard transactions , to clear credit card transactions through visa and mastercard .
certain of such agreements contain financial covenants , and we were in compliance with all such covenants as of may 31 , 2010 .
on june 18 , 2010 , cibc provided notice that it will not renew its sponsorship with us for visa in canada after the initial ten year term .
as a result , their canadian visa sponsorship will expire in march 2011 .
we are .

Question: what was the total rent expense on all operating leases for fiscal 2008 through 2010 in millions
Answer: 93.4
notes to consolidated financial statements 2014 ( continued ) the following table summarizes the changes in non-vested restricted stock awards for the year ended may 31 , 2009 ( share awards in thousands ) : share awards weighted average grant-date fair value .

share awards
weighted average grant-date fair value
non-vested at may 31 2007
278
$ 37
granted
400
38
vested
-136 ( 136 )
30
forfeited
-24 ( 24 )
40
non-vested at may 31 2008
518
39
granted
430
43
vested
-159 ( 159 )
39
forfeited
-27 ( 27 )
41
non-vested at may 31 2009
762
42

the weighted average grant-date fair value of share awards granted in the years ended may 31 , 2008 and 2007 was $ 38 and $ 45 , respectively .
the total fair value of share awards vested during the years ended may 31 , 2009 , 2008 and 2007 was $ 6.2 million , $ 4.1 million and $ 1.7 million , respectively .
we recognized compensation expense for restricted stock of $ 9.0 million , $ 5.7 million , and $ 2.7 million in the years ended may 31 , 2009 , 2008 and 2007 .
as of may 31 , 2009 , there was $ 23.5 million of total unrecognized compensation cost related to unvested restricted stock awards that is expected to be recognized over a weighted average period of 2.9 years .
employee stock purchase plan we have an employee stock purchase plan under which the sale of 2.4 million shares of our common stock has been authorized .
employees may designate up to the lesser of $ 25000 or 20% ( 20 % ) of their annual compensation for the purchase of stock .
the price for shares purchased under the plan is 85% ( 85 % ) of the market value on the last day of the quarterly purchase period .
as of may 31 , 2009 , 0.8 million shares had been issued under this plan , with 1.6 million shares reserved for future issuance .
the weighted average grant-date fair value of each designated share purchased under this plan was $ 6 , $ 6 and $ 8 in the years ended may 31 , 2009 , 2008 and 2007 , respectively .
these values represent the fair value of the 15% ( 15 % ) discount .
note 12 2014segment information general information during fiscal 2009 , we began assessing our operating performance using a new segment structure .
we made this change as a result of our june 30 , 2008 acquisition of 51% ( 51 % ) of hsbc merchant services llp in the united kingdom , in addition to anticipated future international expansion .
beginning with the quarter ended august 31 , 2008 , the reportable segments are defined as north america merchant services , international merchant services , and money transfer .
the following tables reflect these changes and such reportable segments for fiscal years 2009 , 2008 , and 2007. .

Question: what was the percentage increase of total fair value of share awards vested from 2007 to 2009?
Answer: 265% increase

Question: what is the total value of non-vested shares as of may 31 , 2009 , ( in millions ) ?
Answer: 32.0

Question: what is the total value of non-vested shares as of may 31 , 2008 , ( in millions ) ?
Answer: 20.2
28 , 35 , or 90 days .
the funds associated with failed auctions will not be accessible until a successful auction occurs or a buyer is found outside of the auction process .
based on broker- dealer valuation models and an analysis of other-than-temporary impairment factors , auction rate securities with an original par value of approximately $ 34 million were written-down to an estimated fair value of $ 16 million as of december 31 , 2007 .
this write-down resulted in an 201cother-than-temporary 201d impairment charge of approximately $ 8 million ( pre-tax ) included in net income and a temporary impairment charge of $ 10 million ( pre-tax ) reflected as an unrealized loss within other comprehensive income for 2007 .
as of december 31 , 2007 , these investments in auction rate securities have been in a loss position for less than six months .
these auction rate securities are classified as non-current marketable securities as of december 31 , 2007 as indicated in the preceding table .
3m reviews impairments associated with the above in accordance with emerging issues task force ( eitf ) 03-1 and fsp sfas 115-1 and 124-1 , 201cthe meaning of other-than-temporary-impairment and its application to certain investments , 201d to determine the classification of the impairment as 201ctemporary 201d or 201cother-than-temporary . 201d a temporary impairment charge results in an unrealized loss being recorded in the other comprehensive income component of stockholders 2019 equity .
such an unrealized loss does not reduce net income for the applicable accounting period because the loss is not viewed as other-than-temporary .
the company believes that a portion of the impairment of its auction rate securities investments is temporary and a portion is other-than-temporary .
the factors evaluated to differentiate between temporary and other-than-temporary include the projected future cash flows , credit ratings actions , and assessment of the credit quality of the underlying collateral .
the balance at december 31 , 2007 for marketable securities and short-term investments by contractual maturity are shown below .
actual maturities may differ from contractual maturities because the issuers of the securities may have the right to prepay obligations without prepayment penalties .
dec .
31 , ( millions ) 2007 .

( millions )
dec . 31 2007
due in one year or less
$ 231
due after one year through three years
545
due after three years through five years
221
due after five years
62
total marketable securities
$ 1059

predetermined intervals , usually every 7 .

Question: what was the rate of the adjustment of the auction rate securities with an original par value of approximately $ 34 million were written-down to an estimated fair value of $ 16 million as of december 31 , 2007.\\n
Answer: 52.9%
shareholder return performance presentation the graph presented below compares the cumulative total shareholder return on state street's common stock to the cumulative total return of the s&p 500 index and the s&p financial index over a five-year period .
the cumulative total shareholder return assumes the investment of $ 100 in state street common stock and in each index on december 31 , 2007 at the closing price on the last trading day of 2007 , and also assumes reinvestment of common stock dividends .
the s&p financial index is a publicly available measure of 80 of the standard & poor's 500 companies , representing 26 diversified financial services companies , 22 insurance companies , 17 real estate companies and 15 banking companies .
comparison of five-year cumulative total shareholder return .

2007
2008
2009
2010
2011
2012
state street corporation
$ 100
$ 49
$ 55
$ 58
$ 52
$ 61
s&p 500 index
100
63
80
92
94
109
s&p financial index
100
45
52
59
49
63

.

Question: what is the percent change in state street corporation's cumulative total shareholder return on common stock between 2008 and 2009?
Answer: -11%

Question: what is the roi of an investment in s&p500 index from 2007 to 2009?
Answer: -20%

Question: what is the roi of an investment in state street corporation from 2007 to 2009?
Answer: -45.0%