as of december 31 , 2016 , we had total outstanding indebtedness of $ 18.7 billion , with a current portion of $ 238.8 million . during the year ended december 31 , 2016 , we generated sufficient cash flow from operations to fund our capital expenditures and debt service obligations , as well as our required distributions . we believe the cash generated by operating activities during the year ending december 31 , 2017 will be sufficient to fund our required distributions , capital expenditures , debt service obligations ( interest and principal repayments ) and signed acquisitions . as of december 31 , 2016 , we had $ 423.0 million of cash and cash equivalents held by our foreign subsidiaries , of which $ 183.9 million was held by our joint ventures . while certain subsidiaries may pay us interest or principal on intercompany debt , it has not been our practice to repatriate earnings from our foreign subsidiaries primarily due to our ongoing expansion efforts and related capital needs . however , in the event that we do repatriate any funds , we may be required to accrue and pay taxes . cash flows from operating activities for the year ended december 31 , 2016 , cash provided by operating activities increased $ 520.6 million as compared to the year ended december 31 , 2015 . the primary factors that impacted cash provided by operating activities as compared to the year ended december 31 , 2015 , include : 2022 an increase in our operating profit of $ 490.8 million ; 2022 an increase of approximately $ 67.1 million in cash paid for interest ; and 2022 a decrease of approximately $ 60.8 million in cash paid for taxes . for the year ended december 31 , 2015 , cash provided by operating activities increased $ 48.5 million as compared to the year ended december 31 , 2014 . the primary factors that impacted cash provided by operating activities as compared to the year ended december 31 , 2014 , include : 2022 an increase in our operating profit of $ 433.3 million ; 2022 an increase of approximately $ 87.8 million in cash paid for taxes , driven primarily by the mipt one-time cash tax charge of $ 93.0 million ; 2022 a decrease in capital contributions , tenant settlements and other prepayments of approximately $ 99.0 million ; 2022 an increase of approximately $ 29.9 million in cash paid for interest ; 2022 a decrease of approximately $ 34.9 million in termination and decommissioning fees ; 2022 a decrease of approximately $ 49.0 million in tenant receipts due to timing ; and 2022 a decrease due to the non-recurrence of a 2014 value added tax refund of approximately $ 60.3 million . cash flows from investing activities our significant investing activities during the year ended december 31 , 2016 are highlighted below : 2022 we spent approximately $ 1.1 billion for the viom acquisition . 2022 we spent $ 701.4 million for capital expenditures , as follows ( in millions ) : .

Table: discretionary capital projects ( 1 ) $ 149.7 ground lease purchases 153.3 capital improvements and corporate expenditures ( 2 ) 126.7 redevelopment 147.4 start-up capital projects 124.3 total capital expenditures $ 701.4

_______________ ( 1 ) includes the construction of 1869 communications sites globally . ( 2 ) includes $ 18.9 million of capital lease payments included in repayments of notes payable , credit facilities , term loan , senior notes and capital leases in the cash flow from financing activities in our consolidated statement of cash flows . our significant investing transactions in 2015 included the following : 2022 we spent $ 5.059 billion for the verizon transaction . 2022 we spent $ 796.9 million for the acquisition of 5483 communications sites from tim in brazil . 2022 we spent $ 1.1 billion for the acquisition of 4716 communications sites from certain of airtel 2019s subsidiaries in nigeria. .

Question: what portion of the total capital expenditures is related to start-up capital projects?
Answer: 17.7%
Calculation: divide(124.3, 701.4)