management 2019s discussion and analysis of financial condition and results of operations ( continued ) the npr is generally consistent with the basel committee 2019s lcr . however , it includes certain more stringent requirements , including an accelerated implementation time line and modifications to the definition of high-quality liquid assets and expected outflow assumptions . we continue to analyze the proposed rules and analyze their impact as well as develop strategies for compliance . the principles of the lcr are consistent with our liquidity management framework ; however , the specific calibrations of various elements within the final lcr rule , such as the eligibility of assets as hqla , operational deposit requirements and net outflow requirements could have a material effect on our liquidity , funding and business activities , including the management and composition of our investment securities portfolio and our ability to extend committed contingent credit facilities to our clients . in january 2014 , the basel committee released a revised proposal with respect to the net stable funding ratio , or nsfr , which will establish a one-year liquidity standard representing the proportion of long-term assets funded by long-term stable funding , scheduled for global implementation in 2018 . the revised nsfr has made some favorable changes regarding the treatment of operationally linked deposits and a reduction in the funding required for certain securities . however , we continue to review the specifics of the basel committee's release and will be evaluating the u.s . implementation of this standard to analyze the impact and develop strategies for compliance . u.s . banking regulators have not yet issued a proposal to implement the nsfr . contractual cash obligations and other commitments the following table presents our long-term contractual cash obligations , in total and by period due as of december 31 , 2013 . these obligations were recorded in our consolidated statement of condition as of that date , except for operating leases and the interest portions of long-term debt and capital leases . contractual cash obligations .

Table: as of december 31 2013 ( in millions ) payments due by period total payments due by period less than 1year payments due by period 1-3years payments due by period 4-5years payments due by period over 5years long-term debt ( 1 ) $ 10630 $ 1015 $ 2979 $ 2260 $ 4376 operating leases 923 208 286 209 220 capital lease obligations 1051 99 185 169 598 total contractual cash obligations $ 12604 $ 1322 $ 3450 $ 2638 $ 5194

( 1 ) long-term debt excludes capital lease obligations ( presented as a separate line item ) and the effect of interest-rate swaps . interest payments were calculated at the stated rate with the exception of floating-rate debt , for which payments were calculated using the indexed rate in effect as of december 31 , 2013 . the table above does not include obligations which will be settled in cash , primarily in less than one year , such as client deposits , federal funds purchased , securities sold under repurchase agreements and other short-term borrowings . additional information about deposits , federal funds purchased , securities sold under repurchase agreements and other short-term borrowings is provided in notes 8 and 9 to the consolidated financial statements included under item 8 of this form 10-k . the table does not include obligations related to derivative instruments because the derivative-related amounts recorded in our consolidated statement of condition as of december 31 , 2013 did not represent the amounts that may ultimately be paid under the contracts upon settlement . additional information about our derivative instruments is provided in note 16 to the consolidated financial statements included under item 8 of this form 10-k . we have obligations under pension and other post-retirement benefit plans , more fully described in note 19 to the consolidated financial statements included under item 8 of this form 10-k , which are not included in the above table . additional information about contractual cash obligations related to long-term debt and operating and capital leases is provided in notes 10 and 20 to the consolidated financial statements included under item 8 of this form 10-k . our consolidated statement of cash flows , also included under item 8 of this form 10-k , provides additional liquidity information . the following table presents our commitments , other than the contractual cash obligations presented above , in total and by duration as of december 31 , 2013 . these commitments were not recorded in our consolidated statement of condition as of that date. .

Question: what percent of total contractual obligations has been differed over 5 years?
Answer: 41.21
Calculation: divide(5194, 12604)