Comparison of 52-Weeks Ended December 27, 2008 and December 29, 2007 Net Sales
## Table 0 ##
The increase in total net sales for 2008 was primarily driven by outdoor/fitness, automotive/mobile and aviation product offerings.
Automotive/mobile revenue remains a significantly larger portion of our revenue mix, decreasing slightly from 73.6% in 2007 to 72.6% in 2008.
Total unit sales increased 38% to 16.9 million in 2008 from 12.3 million in 2007.
The higher unit sales volume in 2008 was primarily attributable to strong sales of automotive products, particularly in North America, and outdoor/fitness products.
In general, management believes that continuous innovation and the introduction of new products are essential for future revenue growth.
Automotive/mobile segment revenue grew 8.4% in 2008, on the strength of the nuvi?
series of personal navigation devices (PNDs), as well as increased consumer awareness of the capabilities and applications of GPS.
On a percentage basis, revenues in our outdoor/fitness segment grew faster than any other segment from the year ago period due to the introduction of the Colorado?
series, the Oregon ?
series, the Forerunner?405 and Edge?705 which offer enhanced form factors and cartography.
Our aviation segment continued to grow on the strength of our G1000 cockpit as an OEM (original equipment manufacturer) solution.
This growth slowed significantly in the second half of 2008 as the macroeconomic conditions influenced purchasing decisions and slowed OEM production schedules.
Marine revenues were slightly higher than the prior year due to strong growth in the first quarter of 2008 offset by flat to declining revenue in the remainder of the year due to macroeconomic conditions and fuel prices.
The Company anticipates that the macroeconomic conditions will dampen or eliminate revenue growth in 2009 across all segments.
Gross Profit
## Table 1 ##
The increase in gross profit dollars was primarily attributable to the outdoor/fitness and aviation segments where revenue growth and consistent margins contributed.
Gross profit margin percentage for the Company overall decreased 150 basis points as a result of the automotive/mobile segment decline of 310 basis points offset to some extent by strong gross margins in our other three segments.
The automotive/mobile segment is by nature a lowermargin business and the Company has begun to see the impacts expected on gross margin due to falling prices and a product mix shift toward lower end PNDs.
Management believes that the trend to lower gross margins for this segment will continue due to ongoing price declines and further product mix shift toward lower margin products.
Outdoor/fitness gross margin has increased due to a newer suite of products.
A product mix favoring the high margin G1000 in the aviation segment resulted in favorable gross margins for the aviation segment in 2008.
Marine gross margin remained relatively stable and within historic ranges.
Contractual Obligations and Commercial Commitments Future commitments of Garmin, as of December 27, 2008, aggregated by type of contractual obligation, are:
## Table 2 ##
Operating leases describes lease obligations associated with Garmin facilities located in the U. S. , Taiwan, Europe, and Canada.
Purchase obligations are the aggregate of those purchase orders that were outstanding on December 27, 2008; these obligations are created and then paid off within 3 months during the normal course of our manufacturing business.
We may be required to make significant cash outlays related to unrecognized tax benefits.
However, due to the uncertainty of the timing of future cash flows associated with our unrecognized tax benefits, we are unable to make reasonably reliable estimates of the period of cash settlement, if any, with the respective taxing authorities.
Accordingly, unrecognized tax benefits of $214.4 million as of December 27, 2008, have been excluded from the contractual obligations table above.
For further information related to unrecognized tax benefits, see Note 2, “Income Taxes”, to the consolidated financial statements included in this Report.
Off-Balance Sheet Arrangements We do not have any off-balance sheet arrangements.
Item 7A.
Quantitative and Qualitative Disclosures About Market Risk Market Sensitivity We have market risk primarily in connection with the pricing of our products and services and the purchase of raw materials.
Product pricing and raw materials costs are both significantly influenced by semiconductor market conditions.
Historically, during cyclical industry downturns, we have been able to offset pricing declines for our products through a combination of improved product mix and success in obtaining price reductions in raw materials costs.
Inflation We do not believe that inflation has had a material effect on our business, financial condition or results of operations.
If our costs were to become subject to significant inflationary pressures, we may not be able to fully offset such higher costs through price increases.
Our inability or failure to do so could adversely affect our business, financial condition and results of operations.
Foreign Currency Exchange Rate Risk The operation of Garmin’s subsidiaries in international markets results in exposure to movements in currency exchange rates.
We have experienced significant foreign currency gains and losses due to the strengthening and weakening of the U. S.  dollar.
The potential of volatile foreign exchange rate fluctuations in the future could have a significant effect on our results of operations.
The currencies that create a majority of the Company’s exchange rate exposure are the Taiwan Dollar, the Euro, and British Pound Sterling.
Garmin Corporation, headquartered in Shijr, Taiwan, uses the local currency as the functional currency.
The Company translates all assets and liabilities at year-end exchange rates and income and
Net sales, long-lived assets (property and equipment), and net assets by geographic area are as follows as of and for the years ended December 27, 2008, December 29, 2007, and December 30, 2006:
## Table 3 ##
Best Buy, a customer in the outdoor/fitness, marine, and auto/mobile segments, accounted for 12.0% of the Company’s consolidated net sales in the year ended December 27, 2008.9.
Stock Compensation Plans Accounting for Stock-Based Compensation The various Company stock compensation plans are summarized below: 2005 Equity Incentive Plan In June 2005, the shareholders adopted an equity incentive plan (the “2005 Plan”) providing for grants of incentive and nonqualified stock options, stock appreciation rights (“SARs”), restricted stock units (“RSUs”) and/or performance shares to employees of the Company and its subsidiaries, pursuant to which up to 10,000,000 common shares were available for issuance.
The stock options and stock appreciation rights vest evenly over a period of five years or as otherwise determined by the Board of Directors or the Compensation Committee and generally expire ten years from the date of grant, if not exercised.
During 2008, 2007, and 2006, the Company granted 1,454,050, 2,838,200, and 2,341,800 stock appreciation rights, respectively.
Also during 2008, 1,043,800 restricted stock units were granted which vest evenly over a five year period and 30,000 performance shares were granted which cliff vest in three years subject to a performance condition pertaining to operating income growth.2000 Equity Incentive Plan In October 2000, the shareholders adopted an equity incentive plan (the “2000 Plan”) providing for grants of incentive and nonqualified stock options, stock appreciation rights (“SARs”), restricted stock units (“RSUs”) and/or performance shares to employees of the Company and its subsidiaries, pursuant to which up to 7,000,000 common shares were available for issuance.
The stock options and stock appreciation rights vest evenly over a period of five years or as otherwise determined by the Board of Directors or the Compensation Committee and generally expire ten years from the date of grant, if not exercised.
During 2007, the Company granted 20,000 stock appreciation rights and during 2006 the Company granted 64,131 nonqualified stock options, respectively.

Tables referenced above, in order (Table 0 first):
<table><tr><td></td><td colspan="2">52-weeks ended December 27, 2008</td><td colspan="2">52-weeks ended December 29, 2007</td><td colspan="2">Year over Year</td></tr><tr><td></td><td>Net Sales</td><td>% of Revenues</td><td>Net Sales</td><td>% of Revenues</td><td>$ Change</td><td>% Change</td></tr><tr><td>Outdoor/Fitness</td><td>$427,783</td><td>12.2%</td><td>$339,741</td><td>10.7%</td><td>$88,042</td><td>25.9%</td></tr><tr><td>Marine</td><td>204,477</td><td>5.9%</td><td>203,399</td><td>6.4%</td><td>1,078</td><td>0.5%</td></tr><tr><td>Automotive/Mobile</td><td>2,538,411</td><td>72.6%</td><td>2,342,184</td><td>73.6%</td><td>196,227</td><td>8.4%</td></tr><tr><td>Aviation</td><td>323,406</td><td>9.3%</td><td>294,995</td><td>9.3%</td><td>28,411</td><td>9.6%</td></tr><tr><td>Total</td><td>$3,494,077</td><td>100.0%</td><td>$3,180,319</td><td>100.0%</td><td>$313,758</td><td>9.9%</td></tr></table>
<table><tr><td></td><td colspan="2">52-weeks ended December 27, 2008</td><td colspan="2">52-weeks ended December 29, 2007</td><td colspan="2">Year over Year</td></tr><tr><td></td><td>Gross Profit</td><td>% of Revenues</td><td>Gross Profit</td><td>% of Revenues</td><td>$ Change</td><td>% Change</td></tr><tr><td>Outdoor/Fitness</td><td>$246,746</td><td>57.7%</td><td>$184,655</td><td>54.4%</td><td>$62,091</td><td>33.6%</td></tr><tr><td>Marine</td><td>111,425</td><td>54.5%</td><td>110,169</td><td>54.2%</td><td>1,256</td><td>1.1%</td></tr><tr><td>Automotive/Mobile</td><td>977,595</td><td>38.5%</td><td>973,205</td><td>41.6%</td><td>4,390</td><td>0.5%</td></tr><tr><td>Aviation</td><td>217,749</td><td>67.3%</td><td>195,226</td><td>66.2%</td><td>22,523</td><td>11.5%</td></tr><tr><td>Total</td><td>$1,553,515</td><td>44.5%</td><td>$1,463,255</td><td>46.0%</td><td>$90,260</td><td>6.2%</td></tr></table>
<table><tr><td></td><td>Payments due by period</td></tr><tr><td>Contractual Obligations</td><td>Total</td><td>Less than 1 year</td><td>1-3 years</td><td>3-5 years</td><td>More than 5 years</td></tr><tr><td>Operating Leases</td><td>$44,048</td><td>$7,957</td><td>$13,789</td><td>$11,061</td><td>$11,241</td></tr><tr><td>Purchase Obligations</td><td>51,471</td><td>47,966</td><td>2,265</td><td>1,240</td><td>0</td></tr><tr><td>Total</td><td>$95,519</td><td>$55,923</td><td>$16,054</td><td>$12,301</td><td>$11,241</td></tr></table>
<table><tr><td></td><td>North America</td><td>Asia</td><td>Europe</td><td>Total</td></tr><tr><td>December 27, 2008</td><td></td><td></td><td></td><td></td></tr><tr><td>Net sales to external customers</td><td>$2,333,585</td><td>$144,740</td><td>$1,015,752</td><td>$3,494,077</td></tr><tr><td>Long lived assets</td><td>221,158</td><td>168,528</td><td>55,566</td><td>445,252</td></tr><tr><td>Net assets</td><td>687,638</td><td>1,371,240</td><td>166,976</td><td>2,225,854</td></tr><tr><td>December 29, 2007</td><td></td><td></td><td></td><td></td></tr><tr><td>Net sales to external customers</td><td>$2,066,823</td><td>$144,155</td><td>$969,341</td><td>$3,180,319</td></tr><tr><td>Long-lived assets</td><td>185,838</td><td>143,181</td><td>45,128</td><td>374,147</td></tr><tr><td>Net assets</td><td>908,267</td><td>1,309,783</td><td>132,564</td><td>2,350,614</td></tr><tr><td>December 30, 2006</td><td></td><td></td><td></td><td></td></tr><tr><td>Net sales to external customers</td><td>$1,093,581</td><td>$87,048</td><td>$593,371</td><td>$1,774,000</td></tr><tr><td>Long-lived assets</td><td>148,922</td><td>65,280</td><td>36,786</td><td>250,988</td></tr><tr><td>Net assets</td><td>431,795</td><td>1,074,827</td><td>51,277</td><td>1,557,899</td></tr></table>

Question: What is the ratio of Net assets of Europe in Table 3 to the Aviation of Gross Profit in Table 1 in 2008?
Answer: 0.76683
Reasoning program: divide(166976,217749)