Entergy Corporation Notes to Consolidated Financial Statements 85 Sale and Leaseback Transactions Waterford 3 Lease Obligations In 1989, Entergy Louisiana sold and leased back 9.3% of its interest in Waterford 3 for the aggregate sum of $353.6 million.
The lease has an approximate term of 28 years.
The lessors financed the sale-leaseback through the issuance of Waterford 3 Secured Lease Obligation Bonds.
The lease payments made by Entergy Louisiana are sufficient to service the debt.
In 1994, Entergy Louisiana did not exercise its option to repurchase the 9.3% interest in Waterford 3.
As a result, Entergy Louisiana issued $208.2 million of non-interest bearing first mortgage bonds as collateral for the equity portion of certain amounts payable under the lease.
In 1997, the lessors refinanced the outstanding bonds used to finance the purchase of Waterford 3 at lower interest rates, which reduced the annual lease payments.
Upon the occurrence of certain events, Entergy Louisiana may be obligated to assume the outstanding bonds used to finance the purchase of the unit and to pay an amount sufficient to withdraw from the lease transaction.
Such events include lease events of default, events of loss, deemed loss events, or certain adverse "Financial Events. "
"Financial Events" include, among other things, failure by Entergy Louisiana, following the expiration of any applicable grace or cure period, to maintain (i) total equity capital (including preferred stock) at least equal to 30% of adjusted capitalization, or (ii) a fixed charge coverage ratio of at least 1.50 computed on a rolling 12 month basis.
As of December 31, 2003, Entergy Louisiana's total equity capital (including preferred stock) was 49.82% of adjusted capitalization and its fixed charge coverage ratio for 2003 was 4.06.
As of December 31, 2003, Entergy Louisiana had future minimum lease payments (reflecting an overall implicit rate of 7.45%) in connection with the Waterford 3 sale and leaseback transactions, which are recorded as long-term debt, as follows:
## Table 0 ##
Grand Gulf 1 Lease Obligations In December 1988, System Energy sold 11.5% of its undivided ownership interest in Grand Gulf 1 for the aggregate sum of $500 million.
Subsequently, System Energy leased back its interest in the unit for a term of 26-1/2 years.
System Energy has the option of terminating the lease and repurchasing the 11.5% interest in the unit at certain intervals during the lease.
Furthermore, at the end of the lease term, System Energy has the option of renewing the lease or repurchasing the 11.5% interest in Grand Gulf 1.
System Energy is required to report the sale-leaseback as a financing transaction in its financial statements.
For financial reporting purposes, System Energy expenses the interest portion of the lease obligation and the plant
Item 6.
Selected Financial Data(1) (In thousands of dollars, except per share data)
## Table 1 ##
(1) The Selected Financial Data include the operations of the Cryovac packaging business (‘‘Cryovac’’) for all periods presented.
The operating results, cash flows, assets and liabilities of old Sealed Air are included for all periods subsequent to March 31, 1998, the date of the Cryovac Transaction.
See Note 18 to the Consolidated Financial Statements.
(2) In November 2002, the Company reached an agreement in principle with the appropriate parties to resolve all current and future asbestos-related claims made against it and its affiliates in connection with the Cryovac Transaction.
The settlement will also resolve the fraudulent transfer claims, as well as indemnification claims by Fresenius Medical Care Holdings, Inc.  and affiliated companies, made against the Company in connection with the Cryovac Transaction.
Due to the above settlement, the Company recorded a pre-tax charge of $850,118 in the consolidated statement of operations in 2002, which resulted in the Company’s net loss for the year ended December 31, 2002.
See Note 18 to the Consolidated Financial Statements.
(3) Beginning January 1, 2002, in accordance with Statement of Financial Accounting Standards No.142, the Company ceased recording amortization expense related to goodwill.
Goodwill amortization expense was $57,005 in 2001, $51,776 in 2000, $49,404 in 1999 and $36,062 in 1998.
See Note 19 to the Consolidated Financial Statements.
(4) The Series A convertible preferred stock pays a cash dividend at an annual rate of $2.00 per share, payable quarterly in arrears when and as declared by the Board of Directors, and is subject to mandatory redemption on March 31, 2018 at $50.00 per share, plus any accrued and unpaid dividends, to the extent that it then remains outstanding.
Dividends of $0.50 per share have been declared and paid for each quarter since July 1, 1998.
The following table shows our total cash dividends paid each year since we initiated quarterly cash dividend payments in 2006.
## Table 2 ##
On February 17, 2011, our Board of Directors declared a quarterly cash dividend of $0.13 per common share payable on March 18, 2011 to stockholders of record at the close of business on March 4, 2011.
The estimated amount of this dividend payment is $21 million based on 159 million shares of our common stock issued and outstanding as of January 31, 2011.
The dividend payments discussed above are recorded as reductions to cash and cash equivalents and retained earnings on our consolidated balance sheets.
From time to time, we may consider other means of returning value to our stockholders based on our consolidated financial position and results of operations.
There is no guarantee that our Board of Directors will declare any further dividends.
Common Stock Performance Comparisons The following graph shows, for the five years ended December 31, 2010, the cumulative total return on an investment of $100 assumed to have been made on December 31, 2005 in our common stock.
The graph compares this return (“SEE”) with that of comparable investments assumed to have been made on the same date in: (a) the Standard & Poor’s 500 Stock Index (“Composite S&P 500”); (b) a prior self-constructed peer group (“Peer Group 1”) and (c) an updated self-constructed peer group (“Peer Group 2”).
The prior Peer Group 1 includes us and the following other companies: Aptar Group Inc. ; Avery Dennison Corporation; Ball Corporation; Bemis Company, Inc. ; Crown Holdings, Inc. ; MeadWestvaco Corporation; Pactiv Corporation (for 2005 through 2009); Rexam PLC; Silgan Holdings Inc. ; Sonoco Products Co. ; and Spartech Corporation.
In 2010, we revised our peer group and designated it Peer Group 2, which will replace Peer Group 1 beginning January 1, 2011.
We decided to utilize Peer Group 2 rather than Peer Group 1 because we believe that Peer Group 2 more closely represents public companies in packaging and related industries that are comparable to us based on sales, total assets, numbers of employees and market capitalization.
Further, the Organization and Compensation Committee of our Board of Directors, or Compensation Committee, will use this peer group to benchmark executive compensation going forward.
The updated Peer Group 2 includes us and the following companies: Avery Dennison Corporation; Ball Corporation; Bemis Company, Inc. ; Crown Holdings, Inc. ; Greif, Inc. ; MeadWestvaco Corporation; Owens-Illinois, Inc. ; Packaging Corporation of America; Pactiv Corporation (for 2005 through 2009); Rock-Tenn Company; Rockwood Holdings Inc. ; Silgan Holdings Inc. ; Sonoco Products Co. ; and Temple-Inland, Inc.  Pactiv Corporation is included in both peer groups only in the periods 2005 through 2009.
Pactiv was acquired on November 16, 2010 and concurrently delisted as a public company.
Prior to performing the step one interim impairment test, we first evaluated the indefinite lived intangible assets allocated to the I&L and Hygiene Solutions reporting units.
On an annual basis, or when indicators of impairment are present, we determine the fair value of the indefinite lived assets and compare them to their carrying values.
We estimate the fair value of these assets using a relief from royalty method under an income approach.
Based on our analysis, the fair values of certain indefinite lived trademarks were lower than their carrying values.
As a result, we recorded a pre-tax impairment charge of $441 million in the fourth quarter of 2012, which is included in impairment of goodwill and other intangible assets in the consolidated statements of operations and reflected in the F&B ($140 million) and I&L ($301 million) segments.
We also evaluated the recoverability of long lived assets of these reporting units.
When indicators of impairment are present, we test definite lived and long lived assets for recoverability by comparing the carrying value of an asset group to their undiscounted cash flows.
We considered the lower than expected revenue and profitability levels over a sustained period of time, and downward revisions to our cash flow forecasts for a portion of these reporting units to be indicators of impairment for their long-lived assets.
Based on the results of the recoverability test, we determined that the carrying value of certain asset groups of the Hygiene Solutions reporting unit were higher than their undiscounted cash flow.
We then looked at specific long-lived assets in those asset groups and determined that the carrying value of the customer relationships intangible assets exceeded their fair value.
We estimated the fair value of those assets, primarily using the excess earnings method under an income approach.
The key assumptions for this method are a projection of future revenue and profitability as determined by management, the expected survivorship and discount rate, established as discussed above.
As a result, we recorded a pre-tax impairment charge of $149 million in the fourth quarter of 2012, which is included in the impairment of goodwill and other intangible assets in the consolidated statement of operations and reflected in the F&B segment.
We also completed steps one and two of the interim goodwill impairment test for these reporting units.
As a result, in the fourth quarter of 2012, we recorded an additional goodwill impairment charge for the Hygiene Solutions reporting unit of $174 million and $97 million for the I&L reporting unit, which is included in impairment of goodwill and other intangible assets in the consolidated statements of operations.
Allocation of Goodwill to Reporting Units Due to the changes in our segment reporting structure during the fourth quarter of 2012, we reassigned goodwill to our new reporting units using a relative fair value approach.
Goodwill of the F&B segment combines goodwill of two reporting units: Packaging Solutions, which includes former legacy Sealed Air’s Food Packaging and Food Solutions packaging reporting units, and Hygiene Solutions, which was previously reported in the legacyDiversey segment.
Goodwill of the I&L segment also includes a portion of the goodwill previously reported in the legacy-Diversey segment.
Goodwill of the Protective Packaging segment combines goodwill of the former legacy Sealed Air’s Protective Packaging and Shrink Packaging reporting units and the specialty foam business of the former Specialty Materials reporting unit.
The goodwill of the Other category is represented by the goodwill of the Medical Applications reporting unit.
The following table shows our goodwill balances by our new segment reporting structure:

['

(In Thousands)
2004	$31,739
2005	14,554
2006	18,262
2007	18,754
2008	22,606
Years thereafter	366,514
Total	472,429
Less: Amount representing interest	209,895
Present value of net minimum lease payments	$262,534

', '

2002-2	2001	2000	1999	1998
Consolidated Statement of Operations Data:
Net sales	$3,204,256	$3,067,482	$3,067,714	$2,931,853	$2,580,207
Gross profit	1,057,613	990,287	1,035,304	1,028,722	868,736
Operating profit-3	516,386	387,391	468,463	452,192	259,332
(Loss) earnings before income taxes	-391,933	297,452	413,429	395,653	198,947
Net (loss) earnings	-309,069	156,697	225,319	211,461	73,007
Series A convertible preferred stock dividends-4	53,845	55,024	64,266	71,422	53,921
(Loss) earnings per common share(5)
Basic	$-4.20	$1.30	$2.47	$1.69	$0.04
Diluted	$-4.30	$1.22	$1.93	$1.68	$0.02
Consolidated Balance Sheet Data:
Working capital (net liability) net asset(6)	$-96,496	$149,372	$202,512	$221,130	$309,624
Total assets-6	4,260,766	3,907,909	4,090,882	3,887,583	4,066,982
Long-term debt, less current portion-6	868,030	788,111	944,453	665,116	996,526
Series A convertible preferred stock-4	1,327,005	1,366,154	1,392,373	1,761,662	1,791,093
Total shareholders\' equity	$812,960	$850,152	$753,129	$551,030	$437,045
Other Data:
EBIT-7	$-326,618	$373,850	$477,942	$453,779	$252,576
Depreciation and amortization-3	164,955	220,616	219,641	223,399	195,954
EBITDA-7	-161,663	594,466	697,583	677,178	448,530
Capital expenditures	$91,625	$146,277	$114,197	$75,080	$82,408

', '

Total Cash
Total Cash Dividends Paid (In millions)	Dividends Paid per
Common Share
2006	$48.6	$0.30
2007	64.6	0.40
2008	76.4	0.48
2009	75.7	0.48
2010	79.7	0.50
Total	$345.0

']

Question: What is the growing rate of total asset-6 in the year with the most gross profit? (in %)
Answer: 0.09029000000000001