Japanese Yen (approximately $63 million and $188 million, respectively, based on applicable exchange rates at that time).
The cash paid of approximately $63 million during the quarter ended March 31, 2010 as a result of the purchase of Sumitomo 3M shares from SEI is classified as “Other financing activities” in the consolidated statement of cash flows.
The remainder of the purchase financed by the note payable to SEI is considered non-cash financing activity in the first quarter of 2010.
As discussed in Note 2, during the second quarter of 2010, 3M recorded a financed liability of 1.7 billion Japanese yen (approximately $18 million based on applicable exchange rates at that time) related to the A-One acquisition, which is also considered a non-cash financing activity.
Off-Balance Sheet Arrangements and Contractual Obligations: As of December 31, 2012, the Company has not utilized special purpose entities to facilitate off-balance sheet financing arrangements.
Refer to the section entitled “Warranties/Guarantees” in Note 13 for discussion of accrued product warranty liabilities and guarantees.
In addition to guarantees, 3M, in the normal course of business, periodically enters into agreements that require the Company to indemnify either major customers or suppliers for specific risks, such as claims for injury or property damage arising out of the use of 3M products or the negligence of 3M personnel, or claims alleging that 3M products infringe thirdparty patents or other intellectual property.
While 3M’s maximum exposure under these indemnification provisions cannot be estimated, these indemnifications are not expected to have a material impact on the Company’s consolidated results of operations or financial condition.
A summary of the Company’s significant contractual obligations as of December 31, 2012, follows: Contractual Obligations
## Table 0 ##
Long-term debt payments due in 2013 and 2014 include floating rate notes totaling $132 million (classified as current portion of long-term debt) and $97 million, respectively, as a result of put provisions associated with these debt instruments.
Unconditional purchase obligations are defined as an agreement to purchase goods or services that is enforceable and legally binding on the Company.
Included in the unconditional purchase obligations category above are certain obligations related to take or pay contracts, capital commitments, service agreements and utilities.
These estimates include both unconditional purchase obligations with terms in excess of one year and normal ongoing purchase obligations with terms of less than one year.
Many of these commitments relate to take or pay contracts, in which 3M guarantees payment to ensure availability of products or services that are sold to customers.
The Company expects to receive consideration (products or services) for these unconditional purchase obligations.
Contractual capital commitments are included in the preceding table, but these commitments represent a small part of the Company’s expected capital spending in 2013 and beyond.
The purchase obligation amounts do not represent the entire anticipated purchases in the future, but represent only those items for which the Company is contractually obligated.
The majority of 3M’s products and services are purchased as needed, with no unconditional commitment.
For this reason, these amounts will not provide a reliable indicator of the Company’s expected future cash outflows on a stand-alone basis.
Other obligations, included in the preceding table within the caption entitled “Unconditional purchase obligations and other,” include the current portion of the liability for uncertain tax positions under ASC 740, which is expected to be paid out in cash in the next 12 months.
The Company is not able to reasonably estimate the timing of the long-term payments or the amount by which the liability will increase or decrease over time; therefore, the long-term portion of the net tax liability of $170 million is excluded from the preceding table.
Refer to Note 7 for further details.
Compensation expense was determined from the estimates of fair values of stock options granted using the Black-Scholes option-pricing model.
The following summarizes the weighted average of fair value and the significant assumptions used in applying the Black-Scholes model for options granted:
## Table 1 ##
The methodology used to estimate the fair values of stock options is consistent with the estimates used for the pro forma presentation in years prior to the adoption of SFAS 123R.
The assumptions for expected dividend yield, expected volatility and expected life reflect management’s judgment and include consideration of historical experience.
Expected volatility is based on historical volatility.
The risk-free interest rate is based on the U. S.  Treasury yield curve in effect at the time of grant for periods corresponding with the expected life of the option.
The following summarizes our stock option activity for the three years ended December 31, 2006:
## Table 2 ##
We issue new authorized shares for the exercise of stock options.
During 2006, the total intrinsic value of options exercised was approximately $50.8 million.
Additional selected information on stock options at December 31, 2006 follows:
## Table 3 ##
1 The weighted average remaining contractual life excludes 35,023 stock options that do not have a fixed expiration date.
They expire between the date of termination and one year from the date of termination, depending upon certain circumstances.
For outstanding options at December 31, 2006, the aggregate intrinsic value was $166.0 million.
For exercisable options at December 31, 2006, the aggregate intrinsic value was $139.9 million and the weighted average remaining contractual life was 3.4 years, excluding the stock options previously noted without a fixed expiration date.
The previous tables do not include options for employees to purchase common stock of our subsidiaries, TCBO and NetDeposit.
At December 31, 2006 for TCBO, there were options to purchase 87,000 shares at an exercise price of $20.00.
At December 31, 2006, there were 1,038,000 issued and outstanding shares of TCBO common stock.
For NetDeposit, there were options to purchase 11,739,920 shares at exercise prices from $0.42 to $1.00.
At December 31, 2006, there were 100,536,568 issued and outstanding shares of NetDeposit common stock.
TCBO and NetDeposit options are included in the previous pro forma disclosure.
Net income increased 6.0% to $172.6 million in 2006 compared with $162.9 million for 2005, and $145.8 million for 2004.
Loan growth, interest rate risk management, credit management, customer profitability management and expense control were the primary contributors to the positive results of operations for 2006 while the loss of deposits and higher cost of funding negatively impacted earnings.
Net interest income for 2006 increased $18.0 million or 4.0% to $469.4 million compared to $451.4 million for 2005 and $410.2 million for 2004.
CB&T’s net interest margin was 4.81%, 4.91% and 4.78% for 2006, 2005 and 2004, respectively.
The bank strives to maintain a slightly asset-sensitive position with regard to interest rate risk management, meaning that when market interest rates rise, the net interest margin increases.
Net interest income in 2006 increased although the margin narrowed due to the flattening yield curve and the competitive pressures of increases in interest rates on deposits and increased reliance on higher cost nondeposit funding.
The efficiency ratio has improved in each of the past three years: 44.4% for 2006, 46.3% for 2005, and 47.9% for 2004.
CB&T continues to focus on managing operating efficiencies and costs in relation to revenue.
Total revenue was $550.1 million, an increase of 4.5% over $526.4 million in 2005.
Noninterest expense grew to $244.6 million, an increase of 0.3% over $243.9 million in 2005.
This modest expense growth was primarily due to strong controls over staffing levels and other variable expenses.
Full-time equivalent employees declined to 1,659 in December 2006 from 1,673 in December 2005.
Schedule 15 CALIFORNIA BANK & TRUST
## Table 4 ##
Net loans and leases grew $421 million or 5.5% in 2006 compared to 2005.
Commercial, small business, real estate construction, and commercial real estate loans grew modestly in 2006 compared to 2005, while consumer loans declined and residential real estate loans remained flat.
CB&T does not expect overall loan growth in 2007 to be much different than 2006 given the tenuous business climate particularly in its primary Southern California commercial and residential real estate construction and development markets.
Total deposits declined $486 million or 5.5% in 2006 compared to 2005.
The ratio of noninterest-bearing deposits to total deposits was 33.6% and 33.2% for 2006 and 2005, respectively.
Reflecting general banking conditions in California, CB&T was challenged in its deposit growth in 2006 and expects to continue to be challenged in 2007.
Nonperforming assets were $27.1 million at December 31, 2006 compared to $20.0 million one year ago.
Nonperforming assets to net loans and other real estate owned at December 31, 2006 was 0.34% compared to 0.26% at December 31, 2005.
Net loan and lease charge-offs were $10.9 million for 2006 compared with $4.9 million for 2005.
CB&T’s loan loss provision was $15.0 million for 2006 compared to $9.9 million for 2005.
The ratio of the allowance for loan losses to nonperforming loans was 360.3% at year-end 2006 compared to 512.1% at year-end 2005.
The ratio of the allowance for loan losses to net loans and leases was 1.17% and 1.18% at December 31, 2006 and 2005, respectively.
Amegy Corporation Amegy is headquartered in Houston, Texas and operates Amegy Bank, the tenth largest full-service commercial bank in Texas measured by deposits in the state.
Amegy operates 64 full-service traditional branches and 8 banking centers in grocery stores in the Houston metropolitan area, and five traditional branches and one loan production office in the Dallas metropolitan area.
During the first quarter of 2007, Amegy continued its expansion into the attractive markets in Texas by opening its first location in San Antonio, a loan production office to serve the Central Texas market.
Amegy also operates a broker-dealer (Amegy Investments, Inc), a trust and private bank group, and a mortgage bank (Amegy Mortgage Company).
The Texas economy is the eleventh largest in the world with two-thirds of all state economic activity occurring in
We monitor this risk through the use of two complementary measurement methods: duration of equity and income simulation.
In the duration of equity method, we measure the expected changes in the market values of equity in response to changes in interest rates.
In the income simulation method, we analyze the expected changes in income in response to changes in interest rates.
Duration of equity is derived by first calculating the dollar duration of all assets, liabilities and derivative instruments.
Dollar duration is determined by calculating the market value of each instrument assuming interest rates sustain immediate and parallel movements up 1% and down 1%.
The average of these two changes in market value is the dollar duration.
Subtracting the dollar duration of liabilities from the dollar duration of assets and adding the net dollar duration of derivative instruments results in the dollar duration of equity.
Duration of equity is computed by dividing the dollar duration of equity by the market value of equity.
Income simulation is an estimate of the net interest income that would be recognized under different rate environments.
Net interest income is measured under several parallel and nonparallel interest rate environments and deposit repricing assumptions, taking into account an estimate of the possible exercise of options within the portfolio.
Both of these measurement methods require that we assess a number of variables and make various assumptions in managing the Company’s exposure to changes in interest rates.
The assessments address loan and security prepayments, early deposit withdrawals, and other embedded options and noncontrollable events.
As a result of uncertainty about the maturity and repricing characteristics of both deposits and loans, the Company estimates ranges of duration and income simulation under a variety of assumptions and scenarios.
The Company’s interest rate risk position changes as the interest rate environment changes and is managed actively to try to maintain a consistent slightly asset-sensitive position.
However, positions at the end of any period may not be reflective of the Company’s position in any subsequent period.
We should note that duration of equity is highly sensitive to the assumptions used for deposits that do not have specific maturities, such as checking, savings, and money market accounts and also to prepayment assumptions used for loans with prepayment options.
Given the uncertainty of these durations, we view the duration of equity as falling within a range of possibilities.
For income simulation, Company policy requires that interest sensitive income from a static balance sheet is expected to decline by no more than 10% during one year if rates were to immediately rise or fall in parallel by 200 basis points.
As of the dates indicated, Schedule 41 shows the Company’s estimated range of duration of equity, duration of equity simulation, and percentage change in interest sensitive income in the first year after the rate change if interest rates were to sustain an immediate parallel change of 200 basis points; the “low” and “high” results differ based on the assumed speed of repricing of administered-rate deposits (money market, interest-on-checking, and savings): Schedule 41 DURATION OF EQUITY AND INTEREST SENSITIVE INCOME

['

Payments due by year
(Millions)	Total	2013	2014	2015	2016	2017	After 2017
Long-term debt, including current portion (Note 9)	$5,902	$986	$1,481	$107	$994	$648	$1,686
Interest on long-term debt	1,721	189	152	97	96	79	1,108
Operating leases (Note 13)	735	194	158	119	77	68	119
Capital leases (Note 13)	96	22	21	8	7	4	34
Unconditional purchase obligations and other	1,489	1,060	209	111	48	33	28
Total contractual cash obligations	$9,943	$2,451	$2,021	$442	$1,222	$832	$2,975

', '

2006	2005	2004
Weighted average of fair value for options granted	$15.02	15.33	11.85
Weighted average assumptions used:
Expected dividend yield	2.0%	2.0%	2.0%
Expected volatility	18.0%	25.0%	26.8%
Risk-free interest rate	4.95%	3.95%	3.11%
Expected life (in years)	4.1	4.1	3.8

', '

Number of shares	Weighted average exercise price
Balance at December 31, 2003	7,570,645	$49.51
Granted	2,279,621	57.28
Exercised	-1,812,594	48.32
Expired	-170,662	52.54
Forfeited	-233,235	51.59
Balance at December 31, 2004	7,633,775	51.98
Granted	912,905	71.37
Assumed in acquisition	1,559,693	47.44
Exercised	-1,872,753	50.00
Expired	-519,521	66.53
Forfeited	-216,533	55.46
Balance at December 31, 2005	7,497,566	52.79
Granted	979,274	81.14
Exercised	-1,631,012	49.43
Expired	-52,398	50.00
Forfeited	-106,641	62.89
Balance at December 31, 2006	6,686,789	57.62
Outstanding options exercisable as of:
December 31, 2006	4,409,971	$50.73
December 31, 2005	4,663,707	49.04
December 31, 2004	3,711,405	51.02

', '

Outstanding options	Exercisable options
Exercise price range	Number of shares	Weighted average exercise price	Weighted average remaining contractual life (years)	Number of shares	Weighted average exercise price
$ 0.32 to $ 19.99	76,164	$11.63	0.9-1	76,164	$11.63
$ 20.00 to $ 39.99	190,986	27.44	2.2	190,986	27.44
$ 40.00 to $ 44.99	1,290,243	42.23	2.6	1,290,243	42.23
$ 45.00 to $ 49.99	356,590	48.30	4.6	356,590	48.30
$ 50.00 to $ 54.99	1,011,382	53.72	2.4	1,006,735	53.71
$ 55.00 to $ 59.99	1,550,516	56.92	4.5	917,585	57.03
$ 60.00 to $ 64.99	172,390	61.51	2.7	102,522	61.72
$ 65.00 to $ 69.99	198,253	67.30	6.4	146,699	67.42
$ 70.00 to $ 74.99	759,814	70.86	5.5	255,919	70.91
$ 75.00 to $ 79.99	116,126	75.92	6.0	57,528	75.84
$ 80.00 to $ 82.92	964,325	81.14	6.4	9,000	80.65
6,686,789	57.62	4.2-1	4,409,971	50.73

', '

2006	2005	2004
PERFORMANCE RATIOS
Return on average assets	1.59%	1.59%	1.51%
Return on average common equity	15.40%	15.53%	14.52%
Efficiency ratio	44.42%	46.29%	47.93%
Net interest margin	4.81%	4.91%	4.78%
OTHER INFORMATION
Full-time equivalent employees	1,659	1,673	1,722
Domestic offices:
Traditional branches	91	91	91
ATMs	103	105	107

']

Question: what was the ratio of the floating rate notes included in the long-term debt payments for 2013 to 2014
Answer: 1.36082