Interest expense related to capital lease obligations was $1.6 million during the year ended December 31, 2015, and $1.6 million during both the years ended December 31, 2014 and 2013.
Purchase Commitments In the table below, we set forth our enforceable and legally binding purchase obligations as of December 31, 2015.
Some of the amounts are based on management’s estimates and assumptions about these obligations, including their duration, the possibility of renewal, anticipated actions by third parties, and other factors.
Because these estimates and assumptions are necessarily subjective, our actual payments may vary from those reflected in the table.
Purchase orders made in the ordinary course of business are excluded below.
Any amounts for which we are liable under purchase orders are reflected on the Consolidated Balance Sheets as accounts payable and accrued liabilities.
These obligations relate to various purchase agreements for items such as minimum amounts of fiber and energy purchases over periods ranging from one year to 20 years.
Total purchase commitments were as follows (dollars in millions):
## Table 0 ##
The Company purchased a total of $299.6 million, $265.9 million, and $61.7 million during the years ended December 31, 2015, 2014, and 2013, respectively, under these purchase agreements.
The increase in purchases The increase in purchases under these agreements in 2014, compared with 2013, relates to the acquisition of Boise in fourth quarter 2013.
Environmental Liabilities The potential costs for various environmental matters are uncertain due to such factors as the unknown magnitude of possible cleanup costs, the complexity and evolving nature of governmental laws and regulations and their interpretations, and the timing, varying costs and effectiveness of alternative cleanup technologies.
From 2006 through 2015, there were no significant environmental remediation costs at PCA’s mills and corrugated plants.
At December 31, 2015, the Company had $24.3 million of environmental-related reserves recorded on its Consolidated Balance Sheet.
Of the $24.3 million, approximately $15.8 million related to environmental-related asset retirement obligations discussed in Note 12, Asset Retirement Obligations, and $8.5 million related to our estimate of other environmental contingencies.
The Company recorded $7.9 million in “Accrued liabilities” and $16.4 million in “Other long-term liabilities” on the Consolidated Balance Sheet.
Liabilities recorded for environmental contingencies are estimates of the probable costs based upon available information and assumptions.
Because of these uncertainties, PCA’s estimates may change.
The Company believes that it is not reasonably possible that future environmental expenditures for remediation costs and asset retirement obligations above the $24.3 million accrued as of December 31, 2015, will have a material impact on its financial condition, results of operations, or cash flows.
Guarantees and Indemnifications We provide guarantees, indemnifications, and other assurances to third parties in the normal course of our business.
These include tort indemnifications, environmental assurances, and representations and warranties in commercial agreements.
At December 31, 2015, we are not aware of any material liabilities arising from any guarantee, indemnification, or financial assurance we have provided.
If we determined such a liability was probable and subject to reasonable determination, we would accrue for it at that time.
MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED SHAREHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES The Company's common stock is traded on the NYSE under the symbol “RJF”.
At November 19, 2007 there were approximately 14,000 holders of the Company's common stock.
The following table sets forth for the periods indicated the high and low trades for the common stock (as adjusted for the three-fortwo stock split in March 2006):
## Table 1 ##
See Quarterly Financial Information on page 87 of this report for the amount of the quarterly dividends paid.
The Company expects to continue paying cash dividends.
However, the payment and rate of dividends on the Company's common stock is subject to several factors including operating results, financial requirements of the Company, and the availability of funds from the Company's subsidiaries, including the brokerdealer subsidiaries, which may be subject to restrictions under the net capital rules of the SEC, FINRA and the IDA; and RJBank, which may be subject to restrictions by federal banking agencies.
Such restrictions have never limited the Company's dividend payments.
(See Note 19 of the Notes to Consolidated Financial Statements for more information on the capital restrictions placed on RJBank and the Company's broker-dealer subsidiaries).
See Note 15 of the Notes to Consolidated Financial Statements for information regarding repurchased shares of the Company's common stock.
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Factors Affecting “Forward-Looking Statements” From time to time, the Company may publish “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, or make oral statements that constitute forward-looking statements.
These forwardlooking statements may relate to such matters as anticipated financial performance, future revenues or earnings, business prospects, projected ventures, new products, anticipated market performance, and similar matters.
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements.
In order to comply with the terms of the safe harbor, the Company cautions readers that a variety of factors could cause the Company's actual results to differ materially from the anticipated results or other expectations expressed in the Company's forward-looking statements.
These risks and uncertainties, many of which are beyond the Company's control, are discussed in the section entitled Risk Factors on page 42 of this report.
The Company does not undertake any obligation to publicly update or revise any forward-looking statements.
Overview The following Management’s Discussion and Analysis is intended to help the reader understand the results of operations and the financial condition of the Company.
Management’s Discussion and Analysis is provided as a supplement to, and should be read in conjunction with, the Company’s consolidated financial statements and accompanying notes to the consolidated financial statements.
The Company’s results continue to be highly correlated to the direction of the U. S.  equity markets and are subject to volatility due to changes in interest rates, valuation of financial instruments, economic and political trends and industry competition.
During 2007, the market was impacted by rising energy prices, a housing market slowdown, a subprime lending collapse, a growing economy, a weakening US dollar and stable interest rates.
The Company’s Private Client Group’s recruiting and retention of Financial Advisors was positively impacted by industry consolidation.
RJBank benefited from the widening interest rate spreads and the availability of attractive loan purchases as a result of the subprime lending crisis.
Results of Operations - RJBank The following table presents consolidated financial information for RJBank for the years indicated:
## Table 2 ##
Year ended September 30, 2007 Compared with the Year ended September 30, 2006 - RJBank The Company completed its second bulk transfer of cash balances into the RJBank Deposit Program in March 2007, moving another $1.3 billion.
This, combined with organic growth from the influx of new client assets, resulted in a $2.6 billion increase in average deposit balances.
This increase in average deposit balances provided the funding for the $1.6 billion increase in average loan balances.
This increase was 38% purchased residential mortgage pools and 62% corporate loans, 98% of which are purchased interests in corporate loan syndications with the remainder originated by RJBank.
As a result of this growth, RJBank net interest income increased 108% to $84.5 million.
Due to robust loan growth, the associated allowance for loan losses that are established upon recording a new loan and making new unfunded commitments required a provision of over $32 million in 2007.
Accordingly, RJBank’s pre-tax income increased only 69%.
During periods of growth when new loans are originated or purchased, an allowance for loan losses is established for potential losses inherent in those new loans.
Accordingly, a robust period of growth generally results in charges to earnings in that period, while the benefits of higher interest earnings are realized in later periods.
Year ended September 30, 2006 Compared with the Year ended September 30, 2005 - RJBank Assets at RJBank grew a substantial $1.8 billion during the year.
The increase was driven by a $1.7 billion increase in deposits, $1.3 billion of which were redirected from the Company’s Heritage Cash Trust or customer brokerage accounts, representing the introduction of a new sweep program for certain brokerage accounts.
This alternative offers clients a money market equivalent interest rate and FDIC insurance.
The Company intends to expand this offering over the next several years, transferring an additional $2 to $4 billion.
During the year, RJBank deployed $1.3 billion of the increased deposits into loans.
Purchased residential loan pools increased $700 million and corporate loans increased $600 million.
This growth, combined with increased rates, generated an increase in net interest income of nearly $18 million.
Pre-tax income increased only $1.8 million, due to the $13.8 million provision for loan loss associated with the increase in loans outstanding

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2016	$95.3
2017	60.3
2018	28.0
2019	28.0
2020	23.4
Thereafter	77.0
Total	$312.0

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2007	2006
High	Low	High	Low
First Quarter	$ 33.63	$ 28.53	$ 25.72	$ 20.25
Second Quarter	32.52	27.38	31.45	24.47
Third Quarter	34.62	29.10	31.66	26.34
Fourth Quarter	36.00	28.65	30.57	26.45

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Year Ended
September 30, 2007	% Incr. (Decr.)	September 30, 2006	% Incr. (Decr.)	September 30, 2005
($ in 000\'s)
Interest Earnings
Interest Income	$ 278,248	144%	$ 114,065	153%	$ 45,017
Interest Expense	193,747	163%	73,529	234%	22,020
Net Interest Income	84,501	108%	40,536	76%	22,997
Other Income	1,324	111%	627	45%	431
Net Revenues	85,825	109%	41,163	76%	23,428
Non-Interest Expense
Employee Compensation and Benefits	7,778	27%	6,135	14%	5,388
Communications and Information Processing	1,052	16%	907	14%	799
Occupancy and Equipment	719	14%	629	32%	478
Provision for Loan Losses and Unfunded
Commitments	32,150	134%	13,760	891%	1,388
Other	17,121	359%	3,729	218%	1,171
Total Non-Interest Expense	58,820	134%	25,160	173%	9,224
Pre-tax Earnings	$ 27,005	69%	$ 16,003	13%	$ 14,204

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Question: at december 31 , 2015 , what percent of the environmental-related reserves related to environmental-related asset retirement obligations ?
Answer: 0.6502100000000001