we currently maintain a corporate commercial paper program , unrelated to the conduits 2019 asset-backed commercial paper program , under which we can issue up to $ 3 billion with original maturities of up to 270 days from the date of issue . at december 31 , 2009 , we had $ 2.78 billion of commercial paper outstanding , compared to $ 2.59 billion at december 31 , 2008 . additional information about our corporate commercial paper program is provided in note 8 of the notes to consolidated financial statements included under item 8 . in connection with our participation in the fdic 2019s temporary liquidity guarantee program , or tlgp , in which we elected to participate in december 2008 , the parent company was eligible to issue up to approximately $ 1.67 billion of unsecured senior debt during 2009 , backed by the full faith and credit of the united states . as of december 31 , 2009 , the parent company 2019s outstanding unsecured senior debt issued under the tlgp was $ 1.5 billion . additional information with respect to this outstanding debt is provided in note 9 of the notes to consolidated financial statements included under item 8 . the guarantee of this outstanding debt under the tlgp expires on april 30 , 2012 , the maturity date of the debt . state street bank currently has board authority to issue bank notes up to an aggregate of $ 5 billion , and up to $ 1 billion of subordinated bank notes . in connection with state street bank 2019s participation in the tlgp , in which state street bank elected to participate in december 2008 , state street bank was eligible to issue up to approximately $ 2.48 billion of unsecured senior notes during 2009 , backed by the full faith and credit of the united states . as of december 31 , 2009 , state street bank 2019s outstanding unsecured senior notes issued under the tlgp , and pursuant to the aforementioned board authority , totaled $ 2.45 billion . additional information with respect to these outstanding bank notes is provided in note 9 of the notes to consolidated financial statements included under item 8 . the guarantee of state street bank 2019s outstanding debt under the tlgp expires on the maturity date of each respective debt issuance , as follows 2014$ 1 billion on march 15 , 2011 , and $ 1.45 billion on september 15 , 2011 . state street bank currently maintains a line of credit with a financial institution of cad $ 800 million , or approximately $ 761 million as of december 31 , 2009 , to support its canadian securities processing operations . the line of credit has no stated termination date and is cancelable by either party with prior notice . as of december 31 , 2009 , no balance was outstanding on this line of credit . contractual cash obligations .

Table: as of december 31 2009 ( in millions ) payments due by period total payments due by period less than 1 year payments due by period 1-3 years payments due by period 4-5 years payments due by period over 5 years long-term debt ( 1 ) $ 10981 $ 529 $ 4561 $ 797 $ 5094 operating leases 1033 229 342 240 222 capital lease obligations 1151 74 147 145 785 total contractual cash obligations $ 13165 $ 832 $ 5050 $ 1182 $ 6101

( 1 ) long-term debt excludes capital lease obligations ( reported 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 on december 31 , 2009 . the obligations presented in the table above are recorded in our consolidated statement of condition at december 31 , 2009 , except for interest on long-term debt . the table does not include obligations which will be settled in cash , primarily in less than one year , such as 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 7 and 8 of the notes to consolidated financial statements included under item 8 . the table does not include obligations related to derivative instruments , because the amounts included in our consolidated statement of condition at december 31 , 2009 related to derivatives do not represent the amounts that may ultimately be paid under the contracts upon settlement . additional information about derivative contracts is provided in note 16 of the notes to consolidated financial statements included under item 8 . we have obligations under pension and other post-retirement benefit plans , more fully described in note 18 of the notes to consolidated financial statements included under item 8 , which are not included in the above table. .

Question: as of december 2009 what was the percent of the total contractual obligations that was due in less than 1 year for long-term debt ( 1 )
Answer: 4.82%
Calculation: divide(529, 10981)