if this estimated cost experience percent were to increase or decrease .6 percent, the sales incentive accrual at October 31, 2011 would increase or decrease by approximately $35 million.
Product Warranties At the time a sale to a dealer is recognized, the company records the estimated future warranty costs.
The company generally determines its total warranty liability by applying historical claims rate experience to the estimated amount of equipment that has been sold and is still under warranty based on dealer inventories and retail sales.
The historical claims rate is primarily determined by a review of five-year claims costs and consideration of current quality developments.
Variances in claims experience and the type of warranty programs affect these estimates, which are reviewed quarterly.
The product warranty accruals, excluding extended warranty unamortized premiums, at October 31, 2011, 2010 and 2009 were $662 million, $559 million and $513 million, respectively.
The changes were primarily due to higher sales volumes in 2011 and 2010.
Estimates used to determine the product warranty accruals are significantly affected by the historical percent of warranty claims costs to sales.
Over the last five fiscal years, this percent has varied by an average of approximately plus or minus .05 percent, compared to the average warranty costs to sales percent during that period.
Holding other assumptions constant, if this estimated cost experience percent were to increase or decrease .05 percent, the warranty accrual at October 31, 2011 would increase or decrease by approximately $20 million.
Postretirement Benefit Obligations Pension obligations and other postretirement employee benefit (OPEB) obligations are based on various assumptions used by the company’s actuaries in calculating these amounts.
These assumptions include discount rates, health care cost trend rates, expected return on plan assets, compensation increases, retirement rates, mortality rates and other factors.
Actual results that differ from the assumptions and changes in assumptions affect future expenses and obligations.
The pension liabilities, net of pension assets, recognized on the balance sheet at October 31, 2011, 2010 and 2009 were $1,373 million, $693 million and $1,307 million, respectively.
The OPEB liabilities, net of OPEB assets, on these same dates were $5,193 million, $4,830 million and $4,652 million, respectively.
The increase in pension net liabilities in 2011 was primarily due to a decrease in discount rates, partially offset by the return on plan assets.
The decrease in the pension net liabilities in 2010 was primarily due to the return on plan assets and company contributions, partially offset by a decrease in discount rates.
The increases in the OPEB net liabilities in 2011 and 2010 were primarily due to the decreases in discount rates.
The effect of hypothetical changes to selected assumptions on the company’s major U. S.  retirement benefit plans would be as follows in millions of dollars:
## Table 0 ##
Goodwill Goodwill is not amortized and is tested for impairment annually and when events or circumstances change such that it is more likely than not that the fair value of a reporting unit is reduced below its carrying amount.
The end of the third quarter is the annual measurement date.
To test for goodwill impairment, the carrying value of each reporting unit is compared with its fair value.
If the carrying value of the goodwill is considered impaired, a loss is recognized based on the amount by which the carrying value exceeds the implied fair value of the goodwill.
An estimate of the fair value of the reporting unit is determined through a combination of comparable market values for similar businesses and discounted cash flows.
These estimates can change significantly based on such factors as the reporting unit’s financial performance, economic conditions, interest rates, growth rates, pricing, changes in business strategies and competition.
Based on this testing, the company identified one reporting unit in 2010 and one reporting unit in 2009 for which the goodwill was impaired.
None were impaired in 2011.
In the fourth quarter of 2010 and 2009, the company recorded a non-cash pretax charge in cost of sales of $27 million ($25 million after-tax) and $289 million ($274 million after-tax), respectively.
The charges were related to write-downs of the goodwill associated with reporting units included in the agriculture and turf operating segment.
The key factor contributing to the impairments was a decline in the reporting units’ forecasted financial performance (see Note 5).
A 10 percent decrease in the estimated fair value of the company’s reporting units would have had no impact on the carrying value of goodwill at the annual measurement date in 2011.
A reconciliation of Level 3 pension and health care asset fair value measurements in millions of dollars follows:
## Table 1 ##
Fair values are determined as follows: Cash and Short-Term Investments – Includes accounts that are valued based on the account value, which approximates fair value, and investment funds that are valued on the fund’s net asset value (NAV) based on the fair value of the underlying securities.
Also included are securities that are valued using a market approach (matrix pricing model) in which all significant inputs are observable or can be derived from or corroborated by observable market data.
Equity Securities and Funds – The values are determined primarily by closing prices in the active market in which the equity investment trades, or the fund’s NAV, based on the fair value of the underlying securities.
Fixed Income Securities and Funds – The securities are valued using either a market approach (matrix pricing model) in which all significant inputs are observable or can be derived from or corroborated by observable market data such as interest rates, yield curves, volatilities, credit risk and prepayment speeds, or they are valued using the closing prices in the active market in which the fixed income investment trades.
Fixed income funds are valued using the NAV, based on the fair value of the underlying securities.
Real Estate, Venture Capital and Private Equity – The investments, which are structured as limited partnerships, are valued using an income approach (estimated cash flows discounted over the expected holding period), as well as a market approach (the valuation of similar securities and properties).
These investments are valued at estimated fair value based on their proportionate share of the limited partnership’s fair value that is determined by the general partner.
Real estate investment trusts are valued at the closing prices in the active markets in which the investment trades.
Real estate investment funds are valued at the NAV, based on the fair value of the underlying securities.
Hedge Funds and Other Investments – The investments are valued using the NAV provided by the administrator of the fund, which is based on the fair value of the underlying securities.
Interest Rate, Foreign Currency and Other Derivative Instruments – The derivatives are valued using either an income approach (discounted cash flow) using market observable inputs, including swap curves and both forward and spot exchange rates, or a market approach (closing prices in the active market in which the derivative instrument trades).
The primary investment objective for the pension plan assets is to maximize the growth of these assets to meet the projected obligations to the beneficiaries over a long period of time, and to do so in a manner that is consistent with the company’s earnings strength and risk tolerance.
The primary investment objective for the health care plan assets is to provide the company with the financial flexibility to pay the projected obligations to beneficiaries over a long period of time.
The asset allocation policy is the most important decision in managing the assets and it is reviewed regularly.
The asset allocation policy considers the company’s financial strength and long-term asset class risk/return expectations since the obligations are long-term in nature.
The current target allocations for pension assets are approximately 47 percent for equity securities, 24 percent for debt securities, 5 percent for real estate and 24 percent for other investments.
The target allocations for health care assets are approximately 53 percent for equity securities, 29 percent for debt securities, 3 percent for real estate and 15 percent for other investments.
The allocation percentages above include the effects of combining derivatives with other investments to manage asset allocations and exposures to interest rates and foreign currency exchange.
The assets are well diversified and are managed by professional investment firms as well as by investment professionals who are company employees.
As a result of the company’s diversified investment policy, there were no significant concentrations of risk.
The expected long-term rate of return on plan assets reflects management’s expectations of long-term average rates of return on funds invested to provide for benefits included in the projected benefit obligations.
The expected return is based on the outlook for inflation and for returns in multiple asset classes, while also considering historical returns, asset allocation and investment strategy.
The company’s approach has emphasized the long-term nature of the return estimate such that the return assumption is not changed significantly unless there are fundamental changes in capital markets that affect the company’s expectations for returns over an extended period of time (i. e. , 10 to 20 years).
The average annual return of the company’s U. S.  pension fund was approximately 8.8 percent during the past ten years and approximately 9.4 percent during the past 20 years.
Since return premiums over inflation and total returns for major asset classes vary widely even over ten-year periods, recent history is not necessarily indicative of long-term future expected returns.
The company’s systematic methodology for determining the long-term rate of return for the company’s investment strategies supports the long-term expected return assumptions.
The company has created certain Voluntary Employees’ Beneficiary Association trusts (VEBAs) for the funding of postretirement health care benefits.
The future expected asset returns for these VEBAs are lower than the expected return on the other pension and health care plan assets due to investment
Interest Rate, Foreign Currency and Other Derivative Instruments – The derivatives are valued using either an income approach (discounted cash flow) using market observable inputs, including swap curves and both forward and spot exchange rates, or a market approach (closing prices in the active market in which the derivative instrument trades).
The primary investment objective for the pension plan assets is to maximize the growth of these assets to meet the projected obligations to the beneficiaries over a long period of time, and to do so in a manner that is consistent with the company’s earnings strength and risk tolerance.
The primary investment objective for the health care plan assets is to provide the company with the financial flexibility to pay the projected obligations to beneficiaries.
The asset allocation policy is the most important decision in managing the assets and it is reviewed regularly.
The asset allocation policy considers the company’s financial strength and long-term asset class risk/ return expectations since the obligations are long-term in nature.
The current target allocations for pension assets are approximately 48 percent for equity securities, 24 percent for debt securities, 5 percent for real estate and 23 percent for other investments.
The target allocations for health care assets are approximately 54 percent for equity securities, 28 percent for debt securities, 3 percent for real estate and 15 percent for other investments.
The allocation percentages above include the effects of combining derivatives with other investments to manage asset allocations and exposures to interest rates and foreign currency exchange.
The assets are well diversified and are managed by professional investment firms as well as by investment professionals who are company employees.
As a result of the company’s diversified investment policy, there were no significant concentrations of risk.
The expected long-term rate of return on plan assets reflects management’s expectations of long-term average rates of return on funds invested to provide for benefits included in the projected benefit obligations.
A market related value of plan assets is used to calculate the expected return on assets.
The market related value recognizes changes in the fair value of pension plan assets systematically over a five-year period.
The market related value of the health care and life insurance plan assets equal fair value.
The expected return is based on the outlook for inflation and for returns in multiple asset classes, while also considering historical returns, asset allocation and investment strategy.
The company’s approach has emphasized the long-term nature of the return estimate such that the return assumption is not changed significantly unless there are fundamental changes in capital markets that affect the company’s expectations for returns over an extended period of time (i. e. , 10 to 20 years).
The average annual return of the company’s U. S.  pension fund was approximately 8.8 percent during the past ten years and approximately 9.7 percent during the past 20 years.
Since return premiums over inflation and total returns for major asset classes vary widely even over ten-year periods, recent history is not necessarily indicative of long-term future expected returns.
The company’s systematic methodology for determining the long-term rate of return for the company’s investment strategies supports the long-term expected return assumptions.
The company has created certain Voluntary Employees’ Beneficiary Association trusts (VEBAs) for the funding of postretirement health care benefits.
The future expected asset returns for these VEBAs are lower than the expected return on the other pension and health care plan assets due to investment in a higher proportion of liquid securities.
These assets are in addition to the other postretirement health care plan assets that have been funded under Section 401(h) of the U. S.  Internal Revenue Code and maintained in a separate account in the company’s pension plan trust.
The company has defined contribution plans related to employee investment and savings plans primarily in the U. S.  The company’s contributions and costs under these plans were $184 million in 2014, $178 million in 2013 and $155 million in 2012.
The contribution rate varies primarily based on the company’s performance in the prior year and employee participation in the plans.8.
INCOME TAXES The provision for income taxes by taxing jurisdiction and by sig nificant component consisted of the following in millions of dollars:
## Table 2 ##
Based upon the location of the company’s operations, the consolidated income before income taxes in the U. S.  in 2014, 2013 and 2012 was $3,219 million, $4,124 million and $3,582 million, respectively, and in foreign countries was $1,578 million, $1,359 million and $1,152 million, respectively.
Certain foreign operations are branches of Deere & Company and are subject to U. S.  as well as foreign income tax regulations.
The pretax income by location and the preceding analysis of the income tax provision by taxing jurisdiction are not directly related.
Financing Receivables Financing receivables at October 31 consisted of the following in millions of dollars:
## Table 3 ##
The residual values for investments in financing leases at October 31, 2014 and 2013 totaled $112 million and $94 million, respectively.
Financing receivables have significant concentrations of credit risk in the agriculture and turf sector and construction and forestry sector as shown in the previous table.
On a geographic basis, there is not a disproportionate concentration of credit risk in any area.
The company generally retains as collateral a security interest in the equipment associated with retail notes, wholesale notes and financing leases.
Financing receivables at October 31 related to the company’s sales of equipment that were included in the table above consisted of the following in millions of dollars:
## Table 4 ##
* These retail notes generally arise from sales of equipment by company-owned dealers or through direct sales.
(continued)
## Table 5 ##
Financing receivable installments, including unearned finance income, at October 31 are scheduled as follows in millions of dollars:
## Table 6 ##
The maximum terms for retail notes are generally seven years for agriculture and turf equipment and five years for construction and forestry equipment.
The maximum term for financing leases is generally five years, while the average term for wholesale notes is less than twelve months.
At October 31, 2014 and 2013, the unpaid balances of receivables administered but not owned were $54 million and $82 million, respectively.
At October 31, 2014 and 2013, worldwide financing receivables administered, which include financing receivables administered but not owned, totaled $32,078 million and $29,868 million, respectively.
Past due balances of financing receivables still accruing finance income represent the total balance held (principal plus accrued interest) with any payment amounts 30 days or more past the contractual payment due date.
Non-performing financing receivables represent loans for which the company has ceased accruing finance income.
These receivables are generally 120 days delinquent and the estimated uncollectible amount, after charging the dealer’s withholding account, has been written off to the allowance for credit losses.
Finance income for non-performing receivables is recognized on a cash basis.
Accrual of finance income is generally resumed when the receivable becomes contractually current and collections are reasonably assured.
The Company believes that it is reasonably possible that a decrease of up to $8 million in gross unrecognized income tax benefits for federal, state and foreign exposure items may be necessary within the next 12 months due to lapse of statutes of limitations or uncertain tax positions being effectively settled.
The Company believes that it is reasonably possible that a decrease of up to $14 million in gross unrecognized income tax benefits for foreign items may be necessary within the next 12 months due to payments.
For the remaining uncertain income tax positions, it is difficult at this time to estimate the timing of the resolution.
The Company conducts business globally and, as a result, files income tax returns in the United States federal jurisdiction and various state and foreign jurisdictions.
In the normal course of business, the Company is subject to examination by taxing authorities throughout the world.
The following table summarizes the tax years that remain open for examination by tax authorities in the most significant jurisdictions in which the Company operates:

Tables referenced above, in order (Table 0 first):
<table><tr><td> Assumptions</td><td> Percentage  Change</td><td> October 31, 2011  Increase  (Decrease)  PBO/APBO*</td><td> 2012  Increase  (Decrease)  Expense</td></tr><tr><td> Pension</td><td></td><td></td><td></td></tr><tr><td>Discount rate**</td><td>+/-.5</td><td>$-502/530</td><td>$-22/21</td></tr><tr><td>Expected return on assets</td><td>+/-.5</td><td></td><td>-45/45</td></tr><tr><td> OPEB</td><td></td><td></td><td></td></tr><tr><td>Discount rate**</td><td>+/-.5</td><td>-397/421</td><td>-54/56</td></tr><tr><td>Expected return on assets</td><td>+/-.5</td><td></td><td>-6/6</td></tr><tr><td>Health care cost trend rate**</td><td>+/-1.0</td><td>886/-683</td><td>199/-152</td></tr></table>
<table><tr><td></td><td>Total</td><td>Real Estate</td><td>Private Equity/ Venture Capital</td><td>Hedge Funds</td></tr><tr><td> October 31, 2011*</td><td>$1,765</td><td>$437</td><td>$1,178</td><td>$150</td></tr><tr><td>Realized gain</td><td>18</td><td></td><td>18</td><td></td></tr><tr><td>Change in unrealized gain (loss)</td><td>74</td><td>-4</td><td>65</td><td>13</td></tr><tr><td>Purchases, sales and settlements - net</td><td>112</td><td>3</td><td>112</td><td>-3</td></tr><tr><td> October 31, 2012*</td><td>1,969</td><td>436</td><td>1,373</td><td>160</td></tr><tr><td>Realized gain</td><td>58</td><td></td><td>51</td><td>7</td></tr><tr><td>Change in unrealized gain</td><td>220</td><td>68</td><td>142</td><td>10</td></tr><tr><td>Purchases, sales and settlements - net</td><td>-185</td><td>-61</td><td>-102</td><td>-22</td></tr><tr><td> October 31, 2013*</td><td>$2,062</td><td>$443</td><td>$1,464</td><td>$155</td></tr></table>
<table><tr><td> </td><td> 2014</td><td> 2013</td><td> 2012</td></tr><tr><td>Current:</td><td></td><td></td><td></td></tr><tr><td>U.S.:</td><td></td><td></td><td></td></tr><tr><td>Federal</td><td>$1,217</td><td>$1,405</td><td>$1,277</td></tr><tr><td>State</td><td>126</td><td>145</td><td>119</td></tr><tr><td>Foreign</td><td>564</td><td>569</td><td>355</td></tr><tr><td>Total current</td><td>1,907</td><td>2,119</td><td>1,751</td></tr><tr><td>Deferred:</td><td></td><td></td><td></td></tr><tr><td>U.S.:</td><td></td><td></td><td></td></tr><tr><td>Federal</td><td>-189</td><td>-117</td><td>-76</td></tr><tr><td>State</td><td>-11</td><td>-11</td><td>-7</td></tr><tr><td>Foreign</td><td>-80</td><td>-45</td><td>-9</td></tr><tr><td>Total deferred</td><td>-280</td><td>-173</td><td>-92</td></tr><tr><td> Provision for income taxes</td><td>$1,627</td><td>$1,946</td><td>$1,659</td></tr></table>
<table><tr><td></td><td colspan="2"> 2014 Unrestricted/Securitized</td><td colspan="2"> 2013 Unrestricted/Securitized</td></tr><tr><td>Retail notes:</td><td></td><td></td><td></td><td></td></tr><tr><td>Equipment:</td><td></td><td></td><td></td><td></td></tr><tr><td>Agriculture and turf</td><td>$16,970</td><td>$3,975</td><td>$16,209</td><td>$3,602</td></tr><tr><td>Construction and forestry</td><td>1,951</td><td>697</td><td>1,449</td><td>607</td></tr><tr><td>Total</td><td>18,921</td><td>4,672</td><td>17,658</td><td>4,209</td></tr><tr><td>Wholesale notes</td><td>5,390</td><td></td><td>4,802</td><td></td></tr><tr><td>Revolving charge accounts</td><td>2,603</td><td></td><td>2,593</td><td></td></tr><tr><td>Financing leases (direct and sales-type)</td><td>1,558</td><td></td><td>1,513</td><td></td></tr><tr><td>Operating loans</td><td></td><td></td><td>32</td><td></td></tr><tr><td>Total financing receivables</td><td>28,472</td><td>4,672</td><td>26,598</td><td>4,209</td></tr><tr><td>Less:</td><td></td><td></td><td></td><td></td></tr><tr><td>Unearned finance income:</td><td></td><td></td><td></td><td></td></tr><tr><td>Equipment notes</td><td>753</td><td>56</td><td>665</td><td>42</td></tr><tr><td>Financing leases</td><td>136</td><td></td><td>141</td><td></td></tr><tr><td>Total</td><td>889</td><td>56</td><td>806</td><td>42</td></tr><tr><td>Allowance for credit losses</td><td>161</td><td>14</td><td>159</td><td>14</td></tr><tr><td> Financing receivables – net</td><td>$27,422</td><td>$4,602</td><td>$25,633</td><td>$4,153</td></tr></table>
<table><tr><td></td><td> 2014 Unrestricted</td><td> 2013 Unrestricted</td></tr><tr><td>Retail notes*:</td><td></td><td></td></tr><tr><td>Equipment:</td><td></td><td></td></tr><tr><td>Agriculture and turf</td><td>$2,125</td><td>$2,042</td></tr><tr><td>Construction and forestry</td><td>403</td><td>364</td></tr><tr><td>Total</td><td>2,528</td><td>2,406</td></tr><tr><td>Wholesale notes</td><td>5,390</td><td>4,802</td></tr><tr><td>Sales-type leases</td><td>844</td><td>826</td></tr><tr><td>Total</td><td>$8,762</td><td>$8,034</td></tr></table>
<table><tr><td></td><td> 2014 Unrestricted</td><td> 2013 Unrestricted</td></tr><tr><td>Less:</td><td></td><td></td></tr><tr><td>Unearned finance income:</td><td></td><td></td></tr><tr><td>Equipment notes</td><td>$212</td><td>$191</td></tr><tr><td>Sales-type leases</td><td>57</td><td>58</td></tr><tr><td>Total</td><td>269</td><td>249</td></tr><tr><td> Financing receivables  related to the company’s  sales of equipment</td><td>$8,493</td><td>$7,785</td></tr></table>
<table><tr><td></td><td colspan="2"> 2014 Unrestricted/Securitized</td><td colspan="2"> 2013 Unrestricted/Securitized</td></tr><tr><td>Due in months:</td><td></td><td></td><td></td><td></td></tr><tr><td>0 – 12</td><td>$14,357</td><td>$1,878</td><td>$13,343</td><td>$1,663</td></tr><tr><td>13 – 24</td><td>5,254</td><td>1,331</td><td>4,879</td><td>1,177</td></tr><tr><td>25 – 36</td><td>4,053</td><td>880</td><td>3,750</td><td>808</td></tr><tr><td>37 – 48</td><td>2,819</td><td>457</td><td>2,620</td><td>422</td></tr><tr><td>49 – 60</td><td>1,575</td><td>120</td><td>1,610</td><td>130</td></tr><tr><td>Thereafter</td><td>414</td><td>6</td><td>396</td><td>9</td></tr><tr><td> Total</td><td>$28,472</td><td>$4,672</td><td>$26,598</td><td>$4,209</td></tr></table>

Question: What is the growing rate of Equipment notes in the year with the least Sales-type leases?
Answer: 0.10995
Reasoning program: subtract(212,191), divide(#0,191)