Guarantees We adopted FASB Interpretation No.45 (“FIN 45”), “Guarantor’s Accounting and Disclosure Requirements for Guarantees, Including Indirect Guarantees of Indebtedness of Others” at the beginning of our fiscal 2003.
See “Recent Accounting Pronouncements” for further information regarding FIN 45.
The lease agreements for our three office buildings in San Jose, California provide for residual value guarantees.
These lease agreements were in place prior to December 31, 2002 and are disclosed in Note 14.
In the normal course of business, we provide indemnifications of varying scope to customers against claims of intellectual property infringement made by third parties arising from the use of our products.
Historically, costs related to these indemnification provisions have not been significant and we are unable to estimate the maximum potential impact of these indemnification provisions on our future results of operations.
We have commitments to make certain milestone and/or retention payments typically entered into in conjunction with various acquisitions, for which we have made accruals in our consolidated financial statements.
In connection with our purchases of technology assets during fiscal 2003, we entered into employee retention agreements totaling $2.2 million.
We are required to make payments upon satisfaction of certain conditions in the agreements.
As permitted under Delaware law, we have agreements whereby we indemnify our officers and directors for certain events or occurrences while the officer or director is, or was serving, at our request in such capacity.
The indemnification period covers all pertinent events and occurrences during the officer’s or director’s lifetime.
The maximum potential amount of future payments we could be required to make under these indemnification agreements is unlimited; however, we have director and officer insurance coverage that limits our exposure and enables us to recover a portion of any future amounts paid.
We believe the estimated fair value of these indemnification agreements in excess of applicable insurance coverage is minimal.
As part of our limited partnership interests in Adobe Ventures, we have provided a general indemnification to Granite Ventures, an independent venture capital firm and sole general partner of Adobe Ventures, for certain events or occurrences while Granite Ventures is, or was serving, at our request in such capacity provided that Granite Ventures acts in good faith on behalf of the partnerships.
We are unable to develop an estimate of the maximum potential amount of future payments that could potentially result from any hypothetical future claim, but believe the risk of having to make any payments under this general indemnification to be remote.
We accrue for costs associated with future obligations which include costs for undetected bugs that are discovered only after the product is installed and used by customers.
The accrual remaining at the end of fiscal 2003 primarily relates to new releases of our Creative Suites products during the fourth quarter of fiscal 2003.
The table below summarizes the activity related to the accrual during fiscal 2003:
## Table 0 ##
Advertising Expenses We expense all advertising costs as incurred and classify these costs under sales and marketing expense.
Advertising expenses for fiscal years 2003, 2002, and 2001 were $24.0 million, $26.7 million and $30.5 million, respectively.
Foreign Currency and Other Hedging Instruments Statement of Financial Accounting Standards No.133 (“SFAS No.133”), “Accounting for Derivative Instruments and Hedging Activities,” establishes accounting and reporting standards for derivative instruments and hedging activities and requires us to recognize these as either assets or liabilities on the balance sheet and measure them at fair value.
As described in Note 15, gains and losses resulting from
## Table 1 ##
Year ended September 30, 2009 Compared with the Year ended September 30, 2008 - Emerging Markets Emerging markets in fiscal 2009 consists of the results of our joint ventures in Latin America, including Argentina, Uruguay and Brazil.
The global economic slowdown and credit crisis continued to significantly impact emerging markets in all business lines.
The results in the emerging market segment declined to a $4.9 million loss from a $3.4 million loss in the prior year.
This decline was a result of a $24 million, or 80%, decline in commission revenues which was almost entirely offset by a $3.5 million increase in trading profits and a $22 million decline in non-interest expenses.
Our minority interest partners shared in $2.3 million of the fiscal 2009 loss before taxes.
In December, our joint venture in Turkey ceased operations and subsequently filed for protection under Turkish bankruptcy laws.
We have fully reserved for our equity interest in this joint venture.
Year ended September 30, 2008 Compared with the Year ended September 30, 2007 - Emerging Markets Emerging markets consists of the results of our joint ventures in Argentina, Uruguay, Brazil and Turkey.
The results in the emerging market segment declined from a $3.6 million profit in fiscal 2007 to a $3.4 million loss in fiscal 2008.
This decline was a result of a greater decline in revenues than an increase in expenses.
Expenses were impacted by our investment in Brazil.
The global economic slowdown and credit crisis significantly impacted emerging markets in all business lines.
Commission revenue declined 23% in fiscal 2008 as compared to the prior year as the economic slowdown and a series of political crises in Turkey and Argentina during 2008 severely undermined investors’ confidence in these countries.
Trading profits declined due to losses taken in proprietary positions in Turkey.
The commission expense portion of compensation expense declined in proportion to the decline in commission revenue.
Other expenses in fiscal 2007 were unusually high due to the accrual of tax liabilities and the related legal expenses.
As of September 30, 2008, we were still awaiting the final outcome of the litigation in Turkey, and in light of the suspension of the entity’s license, our ability to continue as a going concern in Turkey was uncertain.
We had fully reserved for our investment in the Turkish joint venture as of September 30, 2008 and, accordingly, fiscal 2008 pre-tax earnings did not include any net impact of our Turkish joint venture.
Index 64 Certain statistical disclosures by bank holding companies As a financial holding company, we are required to provide certain statistical disclosures by bank holding companies pursuant to the SEC’s Industry Guide 3.
Certain of those disclosures are as follows for the fiscal year indicated:
## Table 2 ##
(1) Computed as net income attributable to RJF for the year indicated, divided by average assets (the sum of total assets at the beginning and end of the year, divided by two).
(2) Computed by utilizing the net income attributable to RJF for the year indicated, divided by the average equity attributable to RJF for each respective fiscal year.
Average equity is computed by adding the total equity attributable to RJF as of each quarter-end date during the indicated fiscal year, plus the beginning of the year total, divided by five.
(3) Computed as average equity (the sum of total equity at the beginning and end of the fiscal year, divided by two), divided by average assets (the sum of total assets at the beginning and end of the fiscal year, divided by two).
(4) Computed as dividends declared per common share during the fiscal year as a percentage of diluted earnings per common share.
Refer to the RJ Bank section of this MD&A, various sections within Item 7A in this report and the Notes to Consolidated Financial Statements in this Form 10-K for the other required disclosures.
Liquidity and Capital Resources Liquidity is essential to our business.
The primary goal of our liquidity management activities is to ensure adequate funding to conduct our business over a range of market environments.
Senior management establishes our liquidity and capital policies.
These policies include senior management’s review of shortand long-term cash flow forecasts, review of monthly capital expenditures, the monitoring of the availability of alternative sources of financing, and the daily monitoring of liquidity in our significant subsidiaries.
Our decisions on the allocation of capital to our business units consider, among other factors, projected profitability and cash flow, risk and impact on future liquidity needs.
Our treasury department assists in evaluating, monitoring and controlling the impact that our business activities have on our financial condition, liquidity and capital structure as well as maintains our relationships with various lenders.
The objectives of these policies are to support the successful execution of our business strategies while ensuring ongoing and sufficient liquidity.
Liquidity is provided primarily through our business operations and financing activities.
Financing activities could include bank borrowings, repurchase agreement transactions or additional capital raising activities under our “universal” shelf registration statement.
Cash used in operating activities during the year ended September 30, 2016 was $518 million.
Successful operating results generated a $650 million increase in cash.
Increases in cash from operations include: ?
An increase in brokerage client payables had a $1.82 billion favorable impact on cash.
The increase largely results from two factors.
First, many clients reacted to uncertainties in the equity markets by increasing the cash balances in their brokerage accounts.
Second, our brokerage client account balances increased as a result of our fiscal year 2016 acquisitions of Alex.
Brown and 3Macs.
Cumulatively, these two factors result in the increase in brokerage client payables and a corresponding increase in assets segregated pursuant to regulations which is discussed below.  ?
Stock loaned, net of stock borrowed, increased $153 million.  ?
Accrued compensation, commissions and benefits increased $46 million as a result of the increased financial results we achieved in fiscal year 2016.
Offsetting these, decreases in cash used in operations resulted from: ?
A $1.95 billion increase in assets segregated pursuant to regulations and other segregated assets, primarily resulting from the increase in client cash balances described above.
RALPH LAUREN CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) The weighted-average number of common shares outstanding used to calculate basic net income (loss) per common share is reconciled to shares used to calculate diluted net income (loss) per common share as follows:

Tables referenced above, in order (Table 0 first):
<table><tr><td>Balance at November 29, 2002</td><td>Accruals</td><td>Payments</td><td>Balance at November 28, 2003</td></tr><tr><td>$—</td><td>$5,554</td><td>$-2,369</td><td>$3,185</td></tr></table>
<table><tr><td></td><td colspan="5">Year Ended</td></tr><tr><td></td><td>September 30, 2009</td><td>% Incr. (Decr.)</td><td>September 30, 2008</td><td>% Incr. (Decr.)</td><td>September 30, 2007</td></tr><tr><td></td><td colspan="5">($ in 000's)</td></tr><tr><td>Revenues</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Securities Commissions and</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Investment Banking Fees</td><td>$ 7,162</td><td>-78%</td><td>$ 32,292</td><td>-23%</td><td>$ 41,879</td></tr><tr><td>Investment Advisory Fees</td><td>1,355</td><td>-59%</td><td>3,326</td><td>30%</td><td>2,568</td></tr><tr><td>Interest Income</td><td>1,456</td><td>-63%</td><td>3,987</td><td>-4%</td><td>4,163</td></tr><tr><td>Trading Profits</td><td>4,531</td><td>341%</td><td>1,027</td><td>-80%</td><td>5,254</td></tr><tr><td>Other</td><td>387</td><td>-60%</td><td>975</td><td>-82%</td><td>5,340</td></tr><tr><td>Total Revenues</td><td>14,891</td><td>-64%</td><td>41,607</td><td>-30%</td><td>59,204</td></tr><tr><td>Interest Expense</td><td>421</td><td>-66%</td><td>1,235</td><td>3%</td><td>1,197</td></tr><tr><td>Net Revenues</td><td>14,470</td><td>-64%</td><td>40,372</td><td>-30%</td><td>58,007</td></tr><tr><td>Non-Interest Expense</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Compensation Expense</td><td>14,381</td><td>-44%</td><td>25,860</td><td>-8%</td><td>28,010</td></tr><tr><td>Other Expense</td><td>7,296</td><td>-60%</td><td>18,064</td><td>-23%</td><td>23,383</td></tr><tr><td>Total Non-Interest Expense</td><td>21,677</td><td>-51%</td><td>43,924</td><td>-15%</td><td>51,393</td></tr><tr><td>Income (Loss) Before Taxes</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>and Minority Interest</td><td>-7,207</td><td>103%</td><td>-3,552</td><td>-154%</td><td>6,614</td></tr><tr><td>Minority Interest in</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Pre-tax (Losses) Income Held by Others</td><td>-2,321</td><td>1,742%</td><td>-126</td><td>-104%</td><td>2,995</td></tr><tr><td>Pre-tax (Loss) Earnings</td><td>$ -4,886</td><td>-43%</td><td>$ -3,426</td><td>-195%</td><td>$ 3,619</td></tr></table>
<table><tr><td></td><td colspan="3">Year ended September 30,</td></tr><tr><td></td><td>2016</td><td>2015</td><td>2014</td></tr><tr><td>RJF return on average assets<sup>-1</sup></td><td>1.8%</td><td>2.0%</td><td>2.1%</td></tr><tr><td>RJF return on average equity<sup>-2</sup></td><td>11.3%</td><td>11.5%</td><td>12.3%</td></tr><tr><td>Average equity to average assets<sup>-3</sup></td><td>17.1%</td><td>18.5%</td><td>18.1%</td></tr><tr><td>Dividend payout ratio<sup>-4</sup></td><td>21.9%</td><td>21.0%</td><td>19.3%</td></tr></table>

Question: what is the growth rate in advertising expense in 2003 relative to 2002?
Answer: -0.10112
Reasoning program: subtract(24.0,26.7), divide(#0,26.7)