Ball Corporation and Subsidiaries Notes to Consolidated Financial Statements 16.
Stock-Based Compensation Programs (continued) To encourage certain senior management employees and outside directors to invest in Ball stock, Ball adopted a deposit share program in March 2001 (subsequently amended and restated in April 2004) that matches purchased shares with restricted shares.
In general, restrictions on the matching shares lapse at the end of four years from date of grant, or earlier in stages if established share ownership guidelines are met, assuming the relevant qualifying purchased shares are not sold or transferred prior to that time.
Grants under the plan are accounted for as equity awards and compensation expense is recorded based upon the closing market price of the shares at the grant date.
The company recorded $0.4 million, $1.6 million and $3.8 million of expense in connection with this program in 2010, 2009 and 2008, respectively.
The company’s board of directors grants performance-contingent restricted stock units to key employees, which will cliffvest if the company’s return on average invested capital during a 36-month performance period is equal to or exceeds the company’s cost of capital.
If the performance goals are not met, the shares will be forfeited.
Current assumptions are that the performance targets will be met and, accordingly, grants under the plan are being accounted for as equity awards and compensation expense is recorded based upon the closing market price of the shares at the grant date.
On a quarterly basis, the company reassesses the probability of the goals being met and adjusts compensation expense as appropriate.
No such adjustment was considered necessary at the end of 2010 for any grants.
Restricted stock units granted under this program included 362,300 units in January 2010, 386,900 units in January 2009 and 493,300 units in April 2008.
The expense associated with the performance-contingent grants totaled $9.5 million, $9.9 million and $6.2 million in 2010, 2009 and 2008, respectively.
For the years ended December 31, 2010, 2009 and 2008, the company recognized in selling, general and administrative expenses pretax expense of $24.4 million ($14.9 million after tax), $26.5 million ($16.0 million after tax) and $20.5 million ($12.4 million after tax), respectively, for share-based compensation arrangements.
At December 31, 2010, there was $35.9 million of total unrecognized compensation cost related to nonvested share-based compensation arrangements.
This cost is expected to be recognized in earnings over a weighted average period of 2.3 years.
In connection with the employee stock purchase plan, the company contributes 20 percent of up to $500 of each participating employee’s monthly payroll deduction toward the purchase of Ball Corporation common stock.
Company contributions for this plan were $3.2 million in 2010, $3.0 million in 2009 and $3.2 million in 2008.17.
Earnings Per Share
## Table 0 ##
(a) Shares have been retrospectively adjusted for the two-for-one stock split that was effective on February 15, 2011.
Certain options were excluded from the diluted earnings per share calculation because they were anti-dilutive (i. e. , the sum of the proceeds, including the unrecognized compensation and windfall tax benefits, exceeded the average closing stock price for the period).
The options excluded totaled 1,683,300 in 2010; 5,727,828 in 2009; and 4,969,158 in 2008.
Information needed to compute basic earnings per share is provided in the consolidated statements of earnings.
Senior Notes Under the terms of the note purchase agreement for GMO's Series A, B and C Senior Notes, GMO is required to maintain a consolidated indebtedness to consolidated capitalization ratio, as defined in the agreement, not greater than 0.65 to 1.00.
In addition, GMO's priority debt, as defined in the agreement, cannot exceed 15% of consolidated tangible net worth, as defined in the agreement.
At December 31, 2018, GMO was in compliance with these covenants.
In March 2018, KCP&L issued, at a discount, $300.0 million of 4.20% unsecured Senior Notes, maturing in 2048.
KCP&L also repaid its $350.0 million of 6.375% unsecured Senior Notes at maturity in March 2018.
As a result of the consummation of the merger transaction, a change in control provision in GMO's Series A, B and C Senior Notes was triggered that allowed holders a one-time option to elect for early repayment of their notes at par value, plus accrued interest.
Several holders of GMO's Series A and B Senior Notes elected this option and in July 2018, GMO redeemed $89.0 million of its Series A Senior Notes and $15.0 million of its Series B Senior Notes.
Scheduled Maturities Evergy's, Westar Energy's and KCP&L's long-term debt maturities and the long-term debt maturities of VIEs for the next five years are detailed in the following table.
## Table 1 ##
13.
FAIR VALUE MEASUREMENTS Values of Financial Instruments GAAP establishes a hierarchical framework for disclosing the transparency of the inputs utilized in measuring assets and liabilities at fair value.
Management's assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the classification of assets and liabilities within the fair value hierarchy levels.
In addition, the Evergy Companies measure certain investments that do not have a readily determinable fair value at NAV, which are not included in the fair value hierarchy.
Further explanation of these levels and NAV is summarized below.
Level 1 – Quoted prices are available in active markets for identical assets or liabilities.
The types of assets and liabilities included in Level 1 are highly liquid and actively traded instruments with quoted prices, such as equities listed on public exchanges.
Level 2 – Pricing inputs are not quoted prices in active markets, but are either directly or indirectly observable.
The types of assets and liabilities included in Level 2 are certain marketable debt securities, financial instruments traded in less than active markets or other financial instruments priced with models using highly observable inputs.
Level 3 – Significant inputs to pricing have little or no transparency.
The types of assets and liabilities included in Level 3 are those with inputs requiring significant management judgment or estimation.
NAV - Investments that do not have a readily determinable fair value are measured at NAV.
These investments do not consider the observability of inputs and, therefore, they are not included within the fair value hierarchy.
The Evergy Companies include in this category investments in private equity, real estate and alternative investment funds that do not have a readily determinable fair value.
The underlying alternative investments include collateralized debt obligations, mezzanine debt and a variety of other investments.
Management believes that utility gross margin provides a meaningful basis for evaluating the Evergy Companies' operations across periods compared with operating revenues because utility gross margin excludes the revenue effect of fluctuations in these expenses.
Utility gross margin is used internally to measure performance against budget and in reports for management and the Evergy Board.
The Evergy Companies' definition of utility gross margin may differ from similar terms used by other companies.
The following tables summarize Evergy's utility gross margin and MWhs sold.
## Table 2 ##
(a) Utility gross margin is a non-GAAP financial measure.
See explanation of utility gross margin above.
## Table 3 ##
Evergy's utility gross margin increased $1,155.7 million in 2018 compared to 2017 driven by: ?
an $1,181.5 million increase due to the inclusion of KCP&L's and GMO's utility gross margin beginning in June 2018; and ?
a $75.0 million increase primarily due to higher Westar Energy retail sales driven by warmer spring and summer weather and colder winter weather.
For 2018 compared to 2017, cooling degree days increased 31% and heating degree days increased 23%; partially offset by ?
a $69.8 million provision for rate refund recorded at Westar Energy for the change in the corporate income tax rate caused by the passage of the TCJA.
See Note 19 to the consolidated financial statements for additional information; and ?
a $31.0 million reduction in revenue recorded at Westar Energy for one-time and annual bill credits as a result of conditions in the KCC merger order.
See Note 2 to the consolidated financial statements for additional information.
Evergy's utility gross margin decreased $38.2 million in 2017 compared to 2016 primarily due to lower Westar Energy retail sales driven by milder weather.
For 2017 compared to 2016, cooling degree days decreased 13%.
The following table summarizes the regulatory short-term and long-term debt financing authorizations for Westar Energy, KGE, KCP&L and GMO and the remaining amount available under these authorizations as of December 31, 2018.
## Table 4 ##
In addition to the above regulatory authorizations, the Westar Energy, KGE and KCP&L mortgages each contain provisions restricting the amount of FMBs that can be issued by each entity.
Westar Energy, KGE and KCP&L must comply with these restrictions prior to the issuance of additional FMBs, general mortgage bonds or other secured indebtedness.
Under the Westar Energy mortgage, the issuance of bonds is subject to limitations based on the amount of bondable property additions.
In addition, so long as any bonds issued prior to January 1, 1997, remain outstanding, the mortgage prohibits additional FMBs from being issued, except in connection with certain refundings, unless Westar Energy’s unconsolidated net earnings available for interest, depreciation and property retirement (which as defined, does not include earnings or losses attributable to the ownership of securities of subsidiaries), for a period of 12 consecutive months within 15 months preceding the issuance, are not less than the greater of twice the annual interest charges on or 10% of the principal amount of all FMBs outstanding after giving effect to the proposed issuance.
As of December 31, 2018, $344.5 million principal amount of additional FMBs could be issued under the most restrictive provisions in the mortgage, except in connection with certain refundings.
Under the KGE mortgage, the amount of FMBs authorized is limited to a maximum of $3.5 billion and the issuance of bonds is subject to limitations based on the amount of bondable property additions.
In addition, the mortgage prohibits additional FMBs from being issued, except in connection with certain refundings, unless KGE’s net earnings before income taxes and before provision for retirement and depreciation of property for a period of 12 consecutive months within 15 months preceding the issuance are not less than either two and one-half times the annual interest charges on or 10% of the principal amount of all KGE FMBs outstanding after giving effect to the proposed issuance.
As of December 31, 2018, KGE had sufficient capacity under the most restrictive provisions in the mortgage to meet its near term financing and refinancing needs.
Under the KCP&L mortgage, additional KCP&L mortgage bonds may be issued on the basis of property additions or retired bonds.
As of December 31, 2018, KCP&L had sufficient capacity under the most restrictive provisions in the mortgage to meet its near term financing and refinancing needs.
Cash and Cash Equivalents At December 31, 2018, Evergy had approximately $160.3 million of cash and cash equivalents on hand.
Under the Amended Merger Agreement, Great Plains Energy was required to have not less than $1.25 billion in cash and cash equivalents on its balance sheet at the closing of the merger with Westar Energy.
In 2018, Evergy primarily utilized this excess cash to repurchase approximately $1,042 million of common stock.
Evergy anticipates that its remaining excess cash will also be returned to shareholders through the repurchase of common stock.
Management’s Discussion and Analysis of Financial Condition and Results of Operations – (continued) (Amounts in Millions, Except Per Share Amounts) Financing Activities Net cash used in financing activities during 2015 primarily related to the repurchase of our common stock and payment of dividends.
We repurchased 13.6 shares of our common stock for an aggregate cost of $285.2, including fees, and made dividend payments of $195.5 on our common stock.
Net cash used in financing activities during 2014 primarily related to the purchase of long-term debt, the repurchase of our common stock and payment of dividends.
We redeemed all $350.0 in aggregate principal amount of our 6.25% Notes, repurchased 14.9 shares of our common stock for an aggregate cost of $275.1, including fees, and made dividend payments of $159.0 on our common stock.
This was offset by the issuance of $500.0 in aggregate principal amount of our 4.20% Notes.
Foreign Exchange Rate Changes The effect of foreign exchange rate changes on cash and cash equivalents included in the Consolidated Statements of Cash Flows resulted in a decrease of $156.1 in 2015.
The decrease was primarily a result of the U. S.  Dollar being stronger than several foreign currencies, including the Australian Dollar, Brazilian Real, Canadian Dollar, Euro and South African Rand as of December 31, 2015 compared to December 31, 2014.
The effect of foreign exchange rate changes on cash and cash equivalents included in the Consolidated Statements of Cash Flows resulted in a decrease of $101.0 in 2014.
The decrease was primarily a result of the U. S.  Dollar being stronger than several foreign currencies, including the Australian Dollar, Brazilian Real, Canadian Dollar and Euro as of December 31, 2014 compared to December 31, 2013.

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Years ended December 31,
($ in millions, except per share amounts; shares in thousands)	2010	2009	2008
Diluted Earnings per Share(a):
Net earnings attributable to Ball Corporation	$468.0	$387.9	$319.5
Weighted average common shares	180,746	187,572	191,714
Effect of dilutive securities	2,792	2,406	2,324
Weighted average shares applicable to diluted earnings per share	183,538	189,978	194,038
Basic earnings per share	$2.59	$2.07	$1.67
Diluted earnings per share	$2.55	$2.04	$1.65

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2019	2020	2021	2022	2023
(millions)
Evergy(a)	$701.1	$251.1	$432.0	$287.5	$439.5
Westar Energy(a)	300.0	250.0	—	—	50.0
KCP&L	400.0	—	—	—	379.5
VIEs	30.3	32.3	18.8	—	—

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Utility Gross Margin	2018	Change	2017	Change	2016
Retail revenues	(millions)
Residential	$1,578.8	$777.5	$801.3	$-23.9	$825.2
Commercial	1,356.4	644.7	711.7	-16.9	728.6
Industrial	527.8	114.9	412.9	7.1	405.8
Other retail revenues	30.6	7.8	22.8	0.8	22.0
Total electric retail	3,493.6	1,544.9	1,948.7	-32.9	1,981.6
Wholesale revenues	404.4	73.2	331.2	14.9	316.3
Transmission revenues	308.1	23.3	284.8	26.1	258.7
Other revenues	69.8	63.5	6.3	0.8	5.5
Operating revenues	4,275.9	1,704.9	2,571.0	8.9	2,562.1
Fuel and purchased power	-1,078.7	-537.2	-541.5	-32.0	-509.5
SPP network transmission costs	-259.9	-12.0	-247.9	-15.1	-232.8
Utility gross margin(a)	$2,937.3	$1,155.7	$1,781.6	$-38.2	$1,819.8

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MWh Sales	2018	Change	2017	Change	2016
Retail MWh Sales	(thousands)
Residential	12,478	6,315	6,163	-271	6,434
Commercial	14,129	6,761	7,368	-176	7,544
Industrial	7,426	1,737	5,689	190	5,499
Other retail revenues	110	37	73	-4	77
Total electric retail	34,143	14,850	19,293	-261	19,554
Wholesale revenues	13,811	3,465	10,346	2,047	8,299
Operating revenues	47,954	18,315	29,639	1,786	27,853

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Type of Authorization	Commission	Expiration Date	Authorization Amount	Available Under Authorization
Westar Energy & KGE	(in millions)
Short-Term Debt	FERC	December 2020	$1,250.0	$838.3
KCP&L
Short-Term Debt	FERC	December 2020	$1,250.0	$1,073.1
Long-Term Debt	MPSC	September 2019	$750.0	$450.0
GMO
Short-Term Debt	FERC	December 2020	$750.0	$600.0
Long-Term Debt	FERC	December 2020	$100.0	$100.0

']

Question: What is the growing rate of Other revenues in the year with the most Transmission revenues?
Answer: 10.07937