Financial report context:
amount of commitment expiration per period other commercial commitments after millions total 2015 2016 2017 2018 2019 2019 .

Financial table:
other commercial commitmentsmillions: credit facilities [a]; total: $ 1700; amount of commitment expiration per period 2015: $ -; amount of commitment expiration per period 2016: $ -; amount of commitment expiration per period 2017: $ -; amount of commitment expiration per period 2018: $ -; amount of commitment expiration per period 2019: $ 1700; amount of commitment expiration per period after2019: $ -
other commercial commitmentsmillions: receivables securitization facility [b]; total: 650; amount of commitment expiration per period 2015: -; amount of commitment expiration per period 2016: -; amount of commitment expiration per period 2017: 650; amount of commitment expiration per period 2018: -; amount of commitment expiration per period 2019: -; amount of commitment expiration per period after2019: -
other commercial commitmentsmillions: guarantees [c]; total: 82; amount of commitment expiration per period 2015: 12; amount of commitment expiration per period 2016: 26; amount of commitment expiration per period 2017: 10; amount of commitment expiration per period 2018: 11; amount of commitment expiration per period 2019: 8; amount of commitment expiration per period after2019: 15
other commercial commitmentsmillions: standby letters of credit [d]; total: 40; amount of commitment expiration per period 2015: 34; amount of commitment expiration per period 2016: 6; amount of commitment expiration per period 2017: -; amount of commitment expiration per period 2018: -; amount of commitment expiration per period 2019: -; amount of commitment expiration per period after2019: -
other commercial commitmentsmillions: total commercialcommitments; total: $ 2472; amount of commitment expiration per period 2015: $ 46; amount of commitment expiration per period 2016: $ 32; amount of commitment expiration per period 2017: $ 660; amount of commitment expiration per period 2018: $ 11; amount of commitment expiration per period 2019: $ 1708; amount of commitment expiration per period after2019: $ 15

Additional report context:
[a] none of the credit facility was used as of december 31 , 2014 . [b] $ 400 million of the receivables securitization facility was utilized as of december 31 , 2014 , which is accounted for as debt . the full program matures in july 2017 . [c] includes guaranteed obligations related to our equipment financings and affiliated operations . [d] none of the letters of credit were drawn upon as of december 31 , 2014 . off-balance sheet arrangements guarantees 2013 at december 31 , 2014 , and 2013 , we were contingently liable for $ 82 million and $ 299 million in guarantees . we have recorded liabilities of $ 0.3 million and $ 1 million for the fair value of these obligations as of december 31 , 2014 , and 2013 , respectively . we entered into these contingent guarantees in the normal course of business , and they include guaranteed obligations related to our equipment financings and affiliated operations . the final guarantee expires in 2022 . we are not aware of any existing event of default that would require us to satisfy these guarantees . we do not expect that these guarantees will have a material adverse effect on our consolidated financial condition , results of operations , or liquidity . other matters labor agreements 2013 approximately 85% ( 85 % ) of our 47201 full-time-equivalent employees are represented by 14 major rail unions . on january 1 , 2015 , current labor agreements became subject to modification and we began the current round of negotiations with the unions . existing agreements remain in effect until new agreements are reached or the railway labor act 2019s procedures ( which include mediation , cooling-off periods , and the possibility of presidential emergency boards and congressional intervention ) are exhausted . contract negotiations historically continue for an extended period of time and we rarely experience work stoppages while negotiations are pending . inflation 2013 long periods of inflation significantly increase asset replacement costs for capital-intensive companies . as a result , assuming that we replace all operating assets at current price levels , depreciation charges ( on an inflation-adjusted basis ) would be substantially greater than historically reported amounts . derivative financial instruments 2013 we may use derivative financial instruments in limited instances to assist in managing our overall exposure to fluctuations in interest rates and fuel prices . we are not a party to leveraged derivatives and , by policy , do not use derivative financial instruments for speculative purposes . derivative financial instruments qualifying for hedge accounting must maintain a specified level of effectiveness between the hedging instrument and the item being hedged , both at inception and throughout the hedged period . we formally document the nature and relationships between the hedging instruments and hedged items at inception , as well as our risk-management objectives , strategies for undertaking the various hedge transactions , and method of assessing hedge effectiveness . changes in the fair market value of derivative financial instruments that do not qualify for hedge accounting are charged to earnings . we may use swaps , collars , futures , and/or forward contracts to mitigate the risk of adverse movements in interest rates and fuel prices ; however , the use of these derivative financial instruments may limit future benefits from favorable price movements . market and credit risk 2013 we address market risk related to derivative financial instruments by selecting instruments with value fluctuations that highly correlate with the underlying hedged item . we manage credit risk related to derivative financial instruments , which is minimal , by requiring high credit standards for counterparties and periodic settlements . at december 31 , 2014 and 2013 , we were not required to provide collateral , nor had we received collateral , relating to our hedging activities. .

Question: what percentage of the total commercial commitments is credit facilities?
Answer: 69%