TRUST-PREFERRED SECURITIES Huntington has certain wholly-owned trusts whose assets, liabilities, equity, income, and expenses are not included within Huntington’s Consolidated Financial Statements.
These trusts have been formed for the sole purpose of issuing trust-preferred securities, from which the proceeds are then invested in Huntington junior subordinated debentures, which are reflected in Huntington’s Consolidated Balance Sheet as subordinated notes.
The trust securities are the obligations of the trusts, and as such, are not consolidated within Huntington’s Consolidated Financial Statements.
A list of trust-preferred securities outstanding at December 31, 2011 follows:
## Table 0 ##
(1) Represents the principal amount of debentures issued to each trust, including unamortized original issue discount.
(2) Variable effective rate at December 31, 2011, based on three month LIBOR + 0.70.
(3) Variable effective rate at December 31, 2011, based on three month LIBOR + 0.625.
(4) Variable effective rate at December 31, 2011, based on three month LIBOR + 2.95.
(5) Variable effective rate at December 31, 2011, based on three month LIBOR + 1.40.
(6) Variable effective rate at December 31, 2011, based on three month LIBOR + 3.25.
Each issue of the junior subordinated debentures has an interest rate equal to the corresponding trust securities distribution rate.
Huntington has the right to defer payment of interest on the debentures at any time, or from time-to-time for a period not exceeding five years, provided that no extension period may extend beyond the stated maturity of the related debentures.
During any such extension period, distributions to the trust securities will also be deferred and Huntington’s ability to pay dividends on its common stock will be restricted.
Periodic cash payments and payments upon liquidation or redemption with respect to trust securities are guaranteed by Huntington to the extent of funds held by the trusts.
The guarantee ranks subordinate and junior in right of payment to all indebtedness of the Company to the same extent as the junior subordinated debt.
The guarantee does not place a limitation on the amount of additional indebtedness that may be incurred by Huntington.
During the 2011 fourth quarter, Huntington issued $35.5 million par value Floating Rate Series B Non-Cumulative Perpetual Preferred Stock in exchange for $35.5 million of (1) Huntington Capital I Floating Rate Capital Securities, (2) Huntington Capital II Floating Rate Capital Securities, (3) Sky Financial Capital Trust III Floating Rate Capital Securities and (4) Sky Financial Capital Trust IV Floating Rate Capital Securities.
Huntington will pay dividends on the Series B Preferred Stock at a floating rate equal to three-month LIBOR plus a spread of 2.70%.
We believe that off-balance sheet arrangements are properly considered in our liquidity risk management process.
Table 23 - Contractual Obligations (1)
## Table 1 ##
(1) Amounts do not include associated interest payments.
Operational Risk Operational risk is the risk of loss due to human error; inadequate or failed internal systems and controls, including the use of financial or other quantitative methodologies that may not adequately predict future results; violations of, or noncompliance with, laws, rules, regulations, prescribed practices, or ethical standards; and external influences such as market conditions, fraudulent activities, disasters, and security risks.
We continuously strive to strengthen our system of internal controls to ensure compliance with laws, rules, and regulations, and to improve the oversight of our operational risk.
We actively monitor cyberattacks such as attempts related to online deception and loss of sensitive customer data.
We evaluate internal systems, processes and controls to mitigate loss from cyber-attacks and, to date, have not experienced any material losses.
Our objective for managing cyber security risk is to avoid or minimize the impacts of external threat events or other efforts to penetrate our systems.
We work to achieve this objective by hardening networks and systems against attack, and by diligently managing visibility and monitoring controls within our data and communications environment to recognize events and respond before the attacker has the opportunity to plan and execute on its own goals.
To this end we employ a set of defense in-depth strategies, which include efforts to make us less attractive as a target and less vulnerable to threats, while investing in threat analytic capabilities for rapid detection and response.
Potential concerns related to cyber security may be escalated to our board-level Technology Committee, as appropriate.
As a complement to the overall cyber security risk management, we use a number of internal training methods, both formally through mandatory courses and informally through written communications and other updates.
Internal policies and procedures have been implemented to encourage the reporting of potential phishing attacks or other security risks.
We also use third-party services to test the effectiveness of our cyber security risk management framework, and any such third parties are required to comply with our policies regarding information security and confidentiality.
To mitigate operational risks, we have an Operational Risk Committee, a Legal, Regulatory, and Compliance Committee, and a Third Party Risk Management Committee.
The responsibilities of these committees, among other duties, include establishing and maintaining management information systems to monitor material risks and to identify potential concerns, risks, or trends that may have a significant impact and ensuring that recommendations are developed to address the identified issues.
In addition, we have a Model Risk Oversight Committee that is responsible for policies and procedures describing how model risk is evaluated and managed and the application of the governance process to implement these practices throughout the enterprise.
These committees report any significant findings and recommendations to the Risk Management Committee.
Potential concerns may be escalated to our ROC of the Board, as appropriate.
Significant findings or issues are escalated by the Third Party Risk Management Committee to the Technology Committee of the Board, as appropriate.
The goal of this framework is to implement effective operational risk techniques and strategies; minimize operational, fraud, and legal losses; minimize the impact of inadequately designed models and enhance our overall performance.
Compliance Risk Financial institutions are subject to many laws, rules, and regulations at both the federal and state levels.
These broad-based laws, rules, and regulations include, but are not limited to, expectations relating to anti-money laundering, lending limits, client privacy, fair lending, prohibitions against unfair, deceptive or abusive acts or practices, protections for military members as they enter active duty, and community reinvestment.
The volume and complexity of recent regulatory changes have increased our overall compliance risk.
As such, we utilize various resources to help ensure expectations are met, including a team of compliance experts dedicated to ensuring our conformance with all applicable laws, rules, and regulations.
Our colleagues receive training for several broad-based laws and regulations including, but not limited to, anti-money laundering and customer privacy.
Additionally, colleagues engaged in lending activities receive training for laws and regulations related to flood disaster protection, equal credit opportunity, fair lending, and/or other courses related to the extension of credit.
We set a high standard of expectation for adherence to compliance management and seek to continuously enhance our performance.
Purchases of Equity Securities – During 2018, we repurchased 57,669,746 shares of our common stock at an average price of $143.70.
The following table presents common stock repurchases during each month for the fourth quarter of 2018:
## Table 2 ##
[a] Total number of shares purchased during the quarter includes approximately 17,391 shares delivered or attested to UPC by employees to pay stock option exercise prices, satisfy excess tax withholding obligations for stock option exercises or vesting of retention units, and pay withholding obligations for vesting of retention shares.
[b] Effective January 1, 2017, our Board of Directors authorized the repurchase of up to 120 million shares of our common stock by December 31, 2020.
These repurchases may be made on the open market or through other transactions.
Our management has sole discretion with respect to determining the timing and amount of these transactions.

Tables referenced above, in order (Table 0 first):
<table><tr><td> (dollar amounts in thousands)</td><td> Rate</td><td></td><td> Principal amount of subordinatednote/ debenture issued to trust-1</td><td> Investment in unconsolidated subsidiary</td></tr><tr><td>Huntington Capital I</td><td>1.13</td><td>-2</td><td>$111,816</td><td>$6,186</td></tr><tr><td>Huntington Capital II</td><td>1.17</td><td>-3</td><td>54,593</td><td>3,093</td></tr><tr><td>Huntington Capital III</td><td>6.69</td><td></td><td>114,101</td><td>10</td></tr><tr><td>BancFirst Ohio Trust Preferred</td><td>8.54</td><td></td><td>23,192</td><td>619</td></tr><tr><td>Sky Financial Capital Trust I</td><td>8.56</td><td></td><td>64,194</td><td>1,856</td></tr><tr><td>Sky Financial Capital Trust II</td><td>3.34</td><td>-4</td><td>30,929</td><td>929</td></tr><tr><td>Sky Financial Capital Trust III</td><td>1.77</td><td>-5</td><td>72,165</td><td>2,165</td></tr><tr><td>Sky Financial Capital Trust IV</td><td>1.77</td><td>-5</td><td>77,320</td><td>2,320</td></tr><tr><td>Prospect Trust I</td><td>3.65</td><td>-6</td><td>6,186</td><td>186</td></tr><tr><td> Total</td><td></td><td></td><td>$554,496</td><td>$17,364</td></tr></table>
<table><tr><td>(dollar amounts in millions)</td><td colspan="5">At December 31, 2018</td></tr><tr><td></td><td>Less than 1 Year</td><td>1 to 3Years</td><td>3 to 5Years</td><td>More than5 Years</td><td>Total</td></tr><tr><td>Deposits without a stated maturity</td><td>$73,993</td><td>$—</td><td>$—</td><td>$—</td><td>$73,993</td></tr><tr><td>Certificates of deposit and other time deposits</td><td>3,524</td><td>4,249</td><td>2,887</td><td>121</td><td>10,781</td></tr><tr><td>Short-term borrowings</td><td>2,017</td><td>—</td><td>—</td><td>—</td><td>2,017</td></tr><tr><td>Long-term debt</td><td>593</td><td>4,211</td><td>2,973</td><td>1,004</td><td>8,781</td></tr><tr><td>Operating lease obligations</td><td>59</td><td>95</td><td>62</td><td>95</td><td>311</td></tr><tr><td>Purchase commitments</td><td>92</td><td>79</td><td>21</td><td>15</td><td>207</td></tr></table>
<table><tr><td>Period</td><td>Total Number of Shares Purchased [a]</td><td>Average Price Paid Per Share</td><td>Total Number of Shares Purchased as Part of a Publicly AnnouncedPlan or Program [b]</td><td>Maximum Number of Shares Remaining Under the Plan or Program [b]</td></tr><tr><td>Oct. 1 through Oct. 31</td><td>6,091,605</td><td>$158.20</td><td>6,087,727</td><td>32,831,024</td></tr><tr><td>Nov. 1 through Nov. 30</td><td>3,408,467</td><td>147.91</td><td>3,402,190</td><td>29,428,834</td></tr><tr><td>Dec. 1 through Dec. 31</td><td>3,007,951</td><td>148.40</td><td>3,000,715</td><td>26,428,119</td></tr><tr><td>Total</td><td>12,508,023</td><td>$153.04</td><td>12,490,632</td><td>N/A</td></tr></table>

Question: what percent of share repurchases took place in the fourth quarter?
Answer: 0.21689
Reasoning program: divide(12508023,57669746)