Financial report context:
table of contents ended december 31 , 2015 and 2014 , respectively . the increase in cash provided by accounts payable-inventory financing was primarily due to a new vendor added to our previously existing inventory financing agreement . for a description of the inventory financing transactions impacting each period , see note 6 ( inventory financing agreements ) to the accompanying consolidated financial statements . for a description of the debt transactions impacting each period , see note 8 ( long-term debt ) to the accompanying consolidated financial statements . net cash used in financing activities decreased $ 56.3 million in 2014 compared to 2013 . the decrease was primarily driven by several debt refinancing transactions during each period and our july 2013 ipo , which generated net proceeds of $ 424.7 million after deducting underwriting discounts , expenses and transaction costs . the net impact of our debt transactions resulted in cash outflows of $ 145.9 million and $ 518.3 million during 2014 and 2013 , respectively , as cash was used in each period to reduce our total long-term debt . for a description of the debt transactions impacting each period , see note 8 ( long-term debt ) to the accompanying consolidated financial statements . long-term debt and financing arrangements as of december 31 , 2015 , we had total indebtedness of $ 3.3 billion , of which $ 1.6 billion was secured indebtedness . at december 31 , 2015 , we were in compliance with the covenants under our various credit agreements and indentures . the amount of cdw 2019s restricted payment capacity under the senior secured term loan facility was $ 679.7 million at december 31 , 2015 . for further details regarding our debt and each of the transactions described below , see note 8 ( long-term debt ) to the accompanying consolidated financial statements . during the year ended december 31 , 2015 , the following events occurred with respect to our debt structure : 2022 on august 1 , 2015 , we consolidated kelway 2019s term loan and kelway 2019s revolving credit facility . kelway 2019s term loan is denominated in british pounds . the kelway revolving credit facility is a multi-currency revolving credit facility under which kelway is permitted to borrow an aggregate amount of a350.0 million ( $ 73.7 million ) as of december 31 , 2015 . 2022 on march 3 , 2015 , we completed the issuance of $ 525.0 million principal amount of 5.0% ( 5.0 % ) senior notes due 2023 which will mature on september 1 , 2023 . 2022 on march 3 , 2015 , we redeemed the remaining $ 503.9 million aggregate principal amount of the 8.5% ( 8.5 % ) senior notes due 2019 , plus accrued and unpaid interest through the date of redemption , april 2 , 2015 . inventory financing agreements we have entered into agreements with certain financial intermediaries to facilitate the purchase of inventory from various suppliers under certain terms and conditions . these amounts are classified separately as accounts payable-inventory financing on the consolidated balance sheets . we do not incur any interest expense associated with these agreements as balances are paid when they are due . for further details , see note 6 ( inventory financing agreements ) to the accompanying consolidated financial statements . contractual obligations we have future obligations under various contracts relating to debt and interest payments , operating leases and asset retirement obligations . our estimated future payments , based on undiscounted amounts , under contractual obligations that existed as of december 31 , 2015 , are as follows: .

Financial table:
( in millions ): term loan ( 1 ); payments due by period total: $ 1703.4; payments due by period < 1 year: $ 63.9; payments due by period 1-3 years: $ 126.3; payments due by period 4-5 years: $ 1513.2; payments due by period > 5 years: $ 2014
( in millions ): kelway term loan ( 1 ); payments due by period total: 90.9; payments due by period < 1 year: 13.5; payments due by period 1-3 years: 77.4; payments due by period 4-5 years: 2014; payments due by period > 5 years: 2014
( in millions ): senior notes due 2022 ( 2 ); payments due by period total: 852.0; payments due by period < 1 year: 36.0; payments due by period 1-3 years: 72.0; payments due by period 4-5 years: 72.0; payments due by period > 5 years: 672.0
( in millions ): senior notes due 2023 ( 2 ); payments due by period total: 735.1; payments due by period < 1 year: 26.3; payments due by period 1-3 years: 52.5; payments due by period 4-5 years: 52.5; payments due by period > 5 years: 603.8
( in millions ): senior notes due 2024 ( 2 ); payments due by period total: 859.7; payments due by period < 1 year: 31.6; payments due by period 1-3 years: 63.3; payments due by period 4-5 years: 63.3; payments due by period > 5 years: 701.5
( in millions ): operating leases ( 3 ); payments due by period total: 143.2; payments due by period < 1 year: 22.5; payments due by period 1-3 years: 41.7; payments due by period 4-5 years: 37.1; payments due by period > 5 years: 41.9
( in millions ): asset retirement obligations ( 4 ); payments due by period total: 1.8; payments due by period < 1 year: 0.8; payments due by period 1-3 years: 0.5; payments due by period 4-5 years: 0.3; payments due by period > 5 years: 0.2
( in millions ): total; payments due by period total: $ 4386.1; payments due by period < 1 year: $ 194.6; payments due by period 1-3 years: $ 433.7; payments due by period 4-5 years: $ 1738.4; payments due by period > 5 years: $ 2019.4

Additional report context:
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Question: operating leases are what percent of total obligations?
Answer: 3.3%