Notes to the Consolidated Financial Statements 22.
Separation and Merger Transaction On January 28, 2013, the Company completed the previously announced separation of its commodity chemicals business and merger of its wholly-owned subsidiary, Eagle Spinco Inc. , with a subsidiary of Georgia Gulf Corporation in a tax ef ficient Reverse Morris Trust transaction (the “Transaction”).
Pursuant to the merger, Eagle Spinco, the entity holding PPG's former commodity chemicals business, became a wholly-owned subsidiary of Georgia Gulf.
The closing of the merger followed the expiration of the related exchange offer and the satisfaction of certain other conditions.
The combined company formed by uniting Georgia Gulf with PPG's former commodity chemicals business is named Axiall Corporation (“Axiall”).
PPG holds no ownership interest in Axiall.
PPG received the necessary ruling from the Internal Revenue Service and as a result this Transaction was generally tax free to PPG and its shareholders in the United States and Canada.
Under the terms of the exchange offer, 35,249,104 shares of Eagle Spinco common stock were available for distribution in exchange for shares of PPG common stock accepted in the offer.
Following the merger, each share of Eagle Spinco common stock automatically converted into the right to receive one share of Axiall Corporation common stock.
Accordingly, PPG shareholders who tendered their shares of PPG common stock as part of this offer received 3.2562 shares of Axiall common stock for each share of PPG common stock accepted for exchange.
PPG was able to accept the maximum of 10,825,227 shares of PPG common stock for exchange in the offer, and thereby, reduced its outstanding shares by approximately 7%.
The completion of this exchange offer was a non-cash financing transaction, which resulted in an increase in "Treasury stock" at a cost of $1.561 billion based on the PPG closing stock price on January 25, 2013.
Under the terms of the Transaction, PPG received $900 million of cash and 35.2 million shares of Axiall common stock (market value of $1.8 billion on January 25, 2013) which was distributed to PPG shareholders by the exchange offer as described above.
In addition, PPG received $67 million in cash for a preliminary post-closing working capital adjustment under the terms of the Transaction agreements.
The net assets transferred to Axiall included $27 million of cash on the books of the business transferred.
In the Transaction, PPG transferred environmental remediation liabilities, defined benefit pension plan assets and liabilities and other post-employment benefit liabilities related to the commodity chemicals business to Axiall.
During the first quarter of 2013, PPG recorded a gain of $2.2 billion on the Transaction reflecting the excess of the sum of the cash proceeds received and the cost (closing stock price on January 25, 2013) of the PPG shares tendered and accepted in the exchange for the 35.2 million shares of Axiall common stock over the net book value of the net assets of PPG's former commodity chemicals business.
The Transaction resulted in a net partial settlement loss of $33 million associated with the spin out and termination of defined benefit pension liabilities and the transfer of other post-retirement benefit liabilities under the terms of the Transaction.
The Company also incurred $14 million of pretax expense, primarily for professional services related to the Transaction in 2013 as well as approximately $2 million of net expense related to certain retained obligations and post-closing adjustments under the terms of the Transaction agreements.
The net gain on the Transaction includes these related losses and expenses.
The results of operations and cash flows of PPG's former commodity chemicals business for January 2013 and the net gain on the Transaction are reported as results from discontinued operations for the year -ended December 31, 2013.
In prior periods presented, the results of operations and cash flows of PPG's former commodity chemicals business have been reclassified from continuing operations and presented as results from discontinued operations.
PPG will provide Axiall with certain transition services for up to 24 months following the closing date of the Transaction.
These services include logistics, purchasing, finance, information technology, human resources, tax and payroll processing.
The net sales and income before income taxes of the commodity chemicals business that have been reclassified and reported as discontinued operations are presented in the table below:
## Table 0 ##
During 2012, $21 million of business separation costs are included within "Income from discontinued operations, net. "
VF CORPORATION Notes to Consolidated Financial Statements March 2019 F-26 VF Corporation Fiscal 2019 Form 10-K The cash flows related to discontinued operations have not been segregated, and are included in the Consolidated Statements of Cash Flows.
The following table summarizes depreciation and amortization, capital expenditures and the significant operating noncash items from discontinued operations for the years ended December 2017 and 2016:
## Table 1 ##
Depreciation and amortization, capital expenditures and operating noncash items related to discontinued operations were not material for year ended March 2019 and the three months ended March 2018.
Other Divestitures Reef Brand Business During the three months ended September 29, 2018, the Company reached the decision to sell the Reef?
brand business, which was included in the Active segment.
VF signed a definitive agreement for the sale of the Reef?
brand business on October 2, 2018, and completed the transaction on October 26, 2018.
VF received cash proceeds of $139.4 million, and recorded a $14.4 million final loss on sale, which was included in the other income (expense), net line item in the Consolidated Statement of Income for the year ended March 2019.
Under the terms of the transition services agreement, the Company is providing certain support services for periods up to 21 months from the closing date of the transaction.
Revenue and related expense items associated with the transition services and operating expense reimbursements are recorded in the Other category in the reconciliation of segment revenues and segment profit in Note 19.
Van Moer Business During the three months ended September 29, 2018, the Company reached the decision to sell the Van Moer business, acquired with Williamson-Dickie, which was included in the Work segment.
VF completed the sale of the Van Moer business on October 5, 2018, VF CORPORATION Notes to Consolidated Financial Statements March 2019 F-26 VF Corporation Fiscal 2019 Form 10-K The cash flows related to discontinued operations have not been segregated, and are included in the Consolidated Statements of Cash Flows.
The following table summarizes depreciation and amortization, capital expenditures and the significant operating noncash items from discontinued operations for the years ended December 2017 and 2016:
## Table 2 ##
Depreciation and amortization, capital expenditures and operating noncash items related to discontinued operations were not material for year ended March 2019 and the three months ended March 2018.
Other Divestitures Reef Brand Business During the three months ended September 29, 2018, the Company reached the decision to sell the Reef?
brand business, which was included in the Active segment.
VF signed a definitive agreement for the sale of the Reef?
brand business on October 2, 2018, and completed the transaction on October 26, 2018.
VF received cash proceeds of $139.4 million, and recorded a $14.4 million final loss on sale, which was included in the other income (expense), net line item in the Consolidated Statement of Income for the year ended March 2019.
Under the terms of the transition services agreement, the Company is providing certain support services for periods up to 21 months from the closing date of the transaction.
Revenue and related expense items associated with the transition services and operating expense reimbursements are recorded in the Other category in the reconciliation of segment revenues and segment profit in Note 19.
Van Moer Business During the three months ended September 29, 2018, the Company reached the decision to sell the Van Moer business, acquired with Williamson-Dickie, which was included in the Work segment.
VF completed the sale of the Van Moer business on October 5, 2018, and received cash proceeds of €7.0 million ($8.1 million).
VF recorded a $22.4 million final loss on sale, which was included in the other income (expense), net line item in the Consolidated Statement of Income for the year ended March 2019.
Spin-Off of Jeans Business On August 13, 2018, VF announced its intention to spin-off its Jeans business, which will include the Wrangler?, Lee?
and Rock & Republic?
brands, as well as the VF Outlet?
business, into an independent, publicly traded company.
For the year ended March 2019, the Company incurred $131.7 million of separation and related expenses associated with the spin-off.
Of these expenses, VF recognized $104.9 million in selling, general and administrative expenses and $26.8 million in cost of goods sold for the year ended March 2019.
The spin-off was completed on May 22, 2019.
Refer to Note 26 for additional information.
VF has an agreement with a financial institution to sell selected trade accounts receivable on a recurring, nonrecourse basis.
This agreement was amended in August 2018 to permit up to $377.5 million of VF's accounts receivable to be sold to the financial institution and remain outstanding at any point in time, compared to the $367.5 million limit in place at March 2018 and December 2017.
VF removes the accounts receivable from the Consolidated Balance Sheets at the time of sale.
VF does not retain any interests in the sold accounts receivable but continues to service and collect outstanding accounts receivable on behalf of the financial institution.
During the year ended March 2019, the three months ended March 2018 and the years ended December 2017 and 2016, VF sold total accounts receivable of $1,110.7 million, $258.5 million, $1,180.7 million and $1,333.9 million, respectively.
As of March 2019, March 2018 and December 2017, $182.1 million, $191.2 millionand $219.1 million, respectively, of the sold accounts receivable had been removed from the Consolidated Balance Sheets but remained outstanding with the financial institution.
The funding fee charged by the financial institution is included in the other income (expense), net line item in the Consolidated
VF CORPORATION Notes to Consolidated Financial Statements March 2019
## Table 3 ##
Weighted Average Amortization Period
## Table 4 ##
Intangible assets decreased during the year ended March 2019 due to the divestiture of the Reef?
brand business and foreign currency fluctuations, which were partially offset by the addition of intangible assets from the Icebreaker and Altra acquisitions.
VF did not record any impairment charges in the year ended March 2019, the three months ended March 2018 or the year ended December 2017.
In the year ended December 2016, VF recorded an impairment charge of $40.3 million to write off the remaining trademark asset balance for the lucy?
brand, which was part of the former Outdoor and Action Sports segment.
Refer to Note 22 for additional information on the fair value measurements.
Amortization expense (excluding impairment charges) for the year ended March 2019, the three months ended March 2018 and the years ended December 2017 and 2016 was $30.7 million, $7.6 million, $20.0 million and $18.8 million, respectively.
Estimated amortization expense for the next five fiscal years is $30.0 million, $28.5 million, $26.8 million, $25.3 million and $24.3 million, respectively.
Rock & Republic?
Impairment Analysis The Rock & Republic?
brand has an exclusive wholesale distribution and licensing arrangement with Kohl's Corporation that covers all branded apparel, accessories and other merchandise.
As of June 30, 2018, VF performed a quantitative impairment analysis of the Rock & Republic?
amortizing trademark intangible asset to determine if the carrying value was recoverable.
We determined this testing was necessary based on the expectation that certain customer contract terms would be modified.
Management used the income-based relief-from-royalty method and the contractual 4% royalty rate to calculate the pre-tax undiscounted future cash flows.
Based on the analysis performed, management concluded that the trademark intangible asset did not require further testing as the undiscounted cash flows exceeded the carrying value of $49.0 million.
It is possible that VF's conclusion regarding the recoverability of the intangible asset could change in future periods as there can be no assurance that the estimates and assumptions used in the analysis as of June 30, 2018 will prove to be accurate predictions of the future.
Amounts accumulated in other comprehensive income (loss), net of tax, at December 31, are as follows:

Tables referenced above, in order (Table 0 first):
<table><tr><td></td><td>Year-ended</td></tr><tr><td>Millions</td><td>2013</td><td>2012</td><td>2011</td></tr><tr><td>Net sales</td><td>$108</td><td>$1,688</td><td>$1,732</td></tr><tr><td>Income from operations, before income tax</td><td>$—</td><td>$345</td><td>$376</td></tr><tr><td>Net gain from separation and merger of commodity chemicals business</td><td>2,192</td><td>—</td><td>—</td></tr><tr><td>Income tax expense</td><td>-5</td><td>117</td><td>126</td></tr><tr><td>Income from discontinued operations, net of tax</td><td>$2,197</td><td>$228</td><td>$250</td></tr><tr><td>Less: Net income attributable to non-controlling interests, discontinued operations</td><td>$—</td><td>$-13</td><td>$-13</td></tr><tr><td>Net income from discontinued operations (attributable to PPG)</td><td>$2,197</td><td>$215</td><td>$237</td></tr></table>
<table><tr><td></td><td colspan="2">Year Ended December</td></tr><tr><td>(In thousands)</td><td>2017</td><td>2016</td></tr><tr><td>Depreciation and amortization</td><td>$14,023</td><td>$27,360</td></tr><tr><td>Capital expenditures</td><td>2,592</td><td>4,795</td></tr><tr><td>Impairment of goodwill</td><td>104,651</td><td>—</td></tr></table>
<table><tr><td>(In thousands)</td><td>March 2019</td><td>March 2018</td><td>December 2017</td></tr><tr><td>Trade</td><td>$1,625,495</td><td>$1,347,896</td><td>$1,365,321</td></tr><tr><td>Royalty and other</td><td>111,677</td><td>85,684</td><td>90,931</td></tr><tr><td>Total accounts receivable</td><td>1,737,172</td><td>1,433,580</td><td>1,456,252</td></tr><tr><td>Less allowance for doubtful accounts</td><td>28,376</td><td>24,993</td><td>26,266</td></tr><tr><td>Accounts receivable, net</td><td>$1,708,796</td><td>$1,408,587</td><td>$1,429,986</td></tr></table>
<table><tr><td>(In thousands)</td><td>WeightedAverageAmortizationPeriod</td><td>AmortizationMethod</td><td>Cost</td><td>AccumulatedAmortization</td><td>NetCarryingAmount</td></tr><tr><td>March 2018</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Amortizable intangible assets:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Customer relationships</td><td>18 years</td><td>Accelerated</td><td>$344,613</td><td>$143,069</td><td>$201,544</td></tr><tr><td>License agreements</td><td>20 years</td><td>Accelerated</td><td>20,171</td><td>13,915</td><td>6,256</td></tr><tr><td>Trademarks</td><td>16 years</td><td>Straight-line</td><td>58,932</td><td>8,309</td><td>50,623</td></tr><tr><td>Other</td><td>9 years</td><td>Straight-line</td><td>9,194</td><td>4,024</td><td>5,170</td></tr><tr><td>Amortizable intangible assets, net</td><td></td><td></td><td></td><td></td><td>263,593</td></tr><tr><td>Indefinite-lived intangible assets:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Trademarks and trade names</td><td></td><td></td><td></td><td></td><td>1,856,517</td></tr><tr><td>Intangible assets, net</td><td></td><td></td><td></td><td></td><td>$2,120,110</td></tr></table>
<table><tr><td>(In thousands)</td><td>WeightedAverageAmortizationPeriod</td><td>AmortizationMethod</td><td>Cost</td><td>AccumulatedAmortization</td><td>NetCarryingAmount</td></tr><tr><td>December 2017</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Amortizable intangible assets:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Customer relationships</td><td>18 years</td><td>Accelerated</td><td>$338,209</td><td>$133,994</td><td>$204,215</td></tr><tr><td>License agreements</td><td>20 years</td><td>Accelerated</td><td>19,996</td><td>13,660</td><td>6,336</td></tr><tr><td>Trademarks</td><td>16 years</td><td>Straight-line</td><td>58,932</td><td>7,333</td><td>51,599</td></tr><tr><td>Other</td><td>9 years</td><td>Straight-line</td><td>9,001</td><td>3,648</td><td>5,353</td></tr><tr><td>Amortizable intangible assets, net</td><td></td><td></td><td></td><td></td><td>267,503</td></tr><tr><td>Indefinite-lived intangible assets:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Trademarks and trade names</td><td></td><td></td><td></td><td></td><td>1,822,278</td></tr><tr><td>Intangible assets, net</td><td></td><td></td><td></td><td></td><td>$2,089,781</td></tr></table>

Question: What is the ratio of all Cost that are in the range of 20000 and 400000 to the sum of Cost in 2017?
Answer: 0.93195
Reasoning program: add(338209,58932), add(338209,58932), add(#1,19996), add(#2,9001), divide(#0,#3)