growth focused . for example , in december 2005 , 3m announced its intention to build an lcd optical film manufacturing facility in poland to support the fast-growing lcd-tv market in europe and to better serve its customers . the company expects 2006 capital expenditures to total approximately $ 1.1 billion , compared with $ 943 million in 2005 . in the third quarter of 2005 , 3m completed the acquisition of cuno . 3m acquired cuno for approximately $ 1.36 billion , including assumption of debt . this $ 1.36 billion included $ 1.27 billion of cash paid ( net of cash acquired ) and the assumption of $ 80 million of debt , most of which has been repaid . in 2005 , the company also entered into two additional business combinations for a total purchase price of $ 27 million . refer to note 2 to the consolidated financial statements for more information on these 2005 business combinations , and for information concerning 2004 and 2003 business combinations . purchases of investments in 2005 include the purchase from ti&m beteiligungsgesellschaft mbh of 19 percent of i&t innovation technology ( discussed previously under the transportation business segment ) . the purchase price of approximately $ 55 million is reported as 201cinvestments 201d in the consolidated balance sheet and as 201cpurchases of investments 201d in the consolidated statement of cash flows . other 201cpurchases of investments 201d and 201cproceeds from sale of investments 201d in 2005 are primarily attributable to auction rate securities , which are classified as available-for-sale . prior to 2005 , purchases of and proceeds from the sale of auction rate securities were classified as cash and cash equivalents . at december 31 , 2004 , the amount of such securities taken as a whole was immaterial to cash and cash equivalents , and accordingly were not reclassified for 2004 and prior . proceeds from the sale of investments in 2003 include $ 26 million of cash received related to the sale of 3m 2019s 50% ( 50 % ) ownership in durel corporation to rogers corporation . additional purchases of investments totaled $ 5 million in 2005 , $ 10 million in 2004 and $ 16 million in 2003 . these purchases include additional survivor benefit insurance and equity investments . the company is actively considering additional acquisitions , investments and strategic alliances . cash flows from financing activities : years ended december 31 .

Table: ( millions ) 2005 2004 2003 change in short-term debt 2014 net $ -258 ( 258 ) $ 399 $ -215 ( 215 ) repayment of debt ( maturities greater than 90 days ) -656 ( 656 ) -868 ( 868 ) -719 ( 719 ) proceeds from debt ( maturities greater than 90 days ) 429 358 494 total change in debt $ -485 ( 485 ) $ -111 ( 111 ) $ -440 ( 440 ) purchases of treasury stock -2377 ( 2377 ) -1791 ( 1791 ) -685 ( 685 ) reissuances of treasury stock 545 508 555 dividends paid to stockholders -1286 ( 1286 ) -1125 ( 1125 ) -1034 ( 1034 ) distributions to minority interests and other 2014 net -76 ( 76 ) -15 ( 15 ) -23 ( 23 ) net cash used in financing activities $ -3679 ( 3679 ) $ -2534 ( 2534 ) $ -1627 ( 1627 )

total debt at december 31 , 2005 , was $ 2.381 billion , down from $ 2.821 billion at year-end 2004 , with the decrease primarily attributable to the retirement of $ 400 million in medium-term notes . there were no new long- term debt issuances in 2005 . in 2005 , the cash flow decrease in net short-term debt of $ 258 million includes the portion of short-term debt with original maturities of 90 days or less . the repayment of debt of $ 656 million primarily related to the retirement of $ 400 million in medium-term notes and commercial paper retirements . proceeds from debt of $ 429 million primarily related to commercial paper issuances . total debt was 19% ( 19 % ) of total capital ( total capital is defined as debt plus equity ) , compared with 21% ( 21 % ) at year-end 2004 . debt securities , including the company 2019s shelf registration , its medium-term notes program , dealer remarketable securities and convertible note , are all discussed in more detail in note 8 to the consolidated financial statements . 3m has a shelf registration and medium-term notes program through which $ 1.5 billion of medium- term notes may be offered . in 2004 , the company issued approximately $ 62 million in debt securities under its medium-term notes program . no debt was issued under this program in 2005 . the medium-term notes program and shelf registration have remaining capacity of approximately $ 1.438 billion . the company 2019s $ 350 million of dealer remarketable securities ( classified as current portion of long-term debt ) were remarketed for one year in december 2005 . in addition , the company has convertible notes with a book value of $ 539 million at december 31 , 2005 . the next put option date for these convertible notes is november 2007 , thus at year-end 2005 this debt .

Question: what was the percentage change in the net cash used in financing activities from 2004 to 2005
Answer: 45.2%
Calculation: divide(subtract(3679, 2534), 2534)
Explanation: the net cash used in financing activities increased by 45.2% from 2004 to 2005