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[ "page 114 annual report ." ]

[ "skyworks solutions , inc .", "notes to consolidated financial statements 2014 ( continued ) maintained a valuation allowance of $ 47.0 million .", "this valuation allowance is comprised of $ 33.6 million related to u.s .", "state tax credits , of which $ 3.6 million are state tax credits acquired from aati in fiscal year 2012 , and $ 13.4 million related to foreign deferred tax assets .", "if these benefits are recognized in a future period the valuation allowance on deferred tax assets will be reversed and up to a $ 46.6 million income tax benefit , and up to a $ 0.4 million reduction to goodwill may be recognized .", "the company will need to generate $ 209.0 million of future united states federal taxable income to utilize our united states deferred tax assets as of september 28 , 2012 .", "deferred tax assets are recognized for foreign operations when management believes it is more likely than not that the deferred tax assets will be recovered during the carry forward period .", "the company will continue to assess its valuation allowance in future periods .", "as of september 28 , 2012 , the company has united states federal net operating loss carry forwards of approximately $ 74.3 million , including $ 29.5 million related to the acquisition of sige , which will expire at various dates through 2030 and $ 28.1 million related to the acquisition of aati , which will expire at various dates through 2031 .", "the utilization of these net operating losses is subject to certain annual limitations as required under internal revenue code section 382 and similar state income tax provisions .", "the company also has united states federal income tax credit carry forwards of $ 37.8 million , of which $ 30.4 million of federal income tax credit carry forwards have not been recorded as a deferred tax asset .", "the company also has state income tax credit carry forwards of $ 33.6 million , for which the company has provided a valuation allowance .", "the united states federal tax credits expire at various dates through 2032 .", "the state tax credits relate primarily to california research tax credits which can be carried forward indefinitely .", "the company has continued to expand its operations and increase its investments in numerous international jurisdictions .", "these activities will increase the company 2019s earnings attributable to foreign jurisdictions .", "as of september 28 , 2012 , no provision has been made for united states federal , state , or additional foreign income taxes related to approximately $ 371.5 million of undistributed earnings of foreign subsidiaries which have been or are intended to be permanently reinvested .", "it is not practicable to determine the united states federal income tax liability , if any , which would be payable if such earnings were not permanently reinvested .", "the company 2019s gross unrecognized tax benefits totaled $ 52.4 million and $ 32.1 million as of september 28 , 2012 and september 30 , 2011 , respectively .", "of the total unrecognized tax benefits at september 28 , 2012 , $ 38.8 million would impact the effective tax rate , if recognized .", "the remaining unrecognized tax benefits would not impact the effective tax rate , if recognized , due to the company 2019s valuation allowance and certain positions which were required to be capitalized .", "there are no positions which the company anticipates could change within the next twelve months .", "a reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows ( in thousands ) : unrecognized tax benefits ." ]

[ "the utilization of these net operating losses is subject to certain annual limitations as required under internal revenue code section 382 and similar state income tax provisions .", "the company 2019s gross unrecognized tax benefits totaled $ 52.4 million and $ 32.1 million as of september 28 , 2012 and september 30 , 2011 , respectively ." ]

[ [ "", "unrecognized tax benefits" ], [ "balance at september 30 2011", "$ 32136" ], [ "increases based on positions related to prior years", "9004" ], [ "increases based on positions related to current year", "11265" ], [ "decreases relating to settlements with taxing authorities", "2014" ], [ "decreases relating to lapses of applicable statutes of limitations", "-25 ( 25 )" ], [ "balance at september 28 2012", "$ 52380" ] ]

[ "2012 compared to 2011 aeronautics 2019 net sales for 2012 increased $ 591 million , or 4% ( 4 % ) , compared to 2011 .", "the increase was attributable to higher net sales of approximately $ 745 million from f-35 lrip contracts principally due to increased production volume ; about $ 285 million from f-16 programs primarily due to higher aircraft deliveries ( 37 f-16 aircraft delivered in 2012 compared to 22 in 2011 ) partially offset by lower volume on sustainment activities due to the completion of modification programs for certain international customers ; and approximately $ 140 million from c-5 programs due to higher aircraft deliveries ( four c-5m aircraft delivered in 2012 compared to two in 2011 ) .", "partially offsetting the increases were lower net sales of approximately $ 365 million from decreased production volume and lower risk retirements on the f-22 program as final aircraft deliveries were completed in the second quarter of 2012 ; approximately $ 110 million from the f-35 development contract primarily due to the inception-to-date effect of reducing the profit booking rate in the second quarter of 2012 and to a lesser extent lower volume ; and about $ 95 million from a decrease in volume on other sustainment activities partially offset by various other aeronautics programs due to higher volume .", "net sales for c-130 programs were comparable to 2011 as a decline in sustainment activities largely was offset by increased aircraft deliveries .", "aeronautics 2019 operating profit for 2012 increased $ 69 million , or 4% ( 4 % ) , compared to 2011 .", "the increase was attributable to higher operating profit of approximately $ 105 million from c-130 programs due to an increase in risk retirements ; about $ 50 million from f-16 programs due to higher aircraft deliveries partially offset by a decline in risk retirements ; approximately $ 50 million from f-35 lrip contracts due to increased production volume and risk retirements ; and about $ 50 million from the completion of purchased intangible asset amortization on certain f-16 contracts .", "partially offsetting the increases was lower operating profit of about $ 90 million from the f-35 development contract primarily due to the inception- to-date effect of reducing the profit booking rate in the second quarter of 2012 ; approximately $ 50 million from decreased production volume and risk retirements on the f-22 program partially offset by a resolution of a contractual matter in the second quarter of 2012 ; and approximately $ 45 million primarily due to a decrease in risk retirements on other sustainment activities partially offset by various other aeronautics programs due to increased risk retirements and volume .", "operating profit for c-5 programs was comparable to 2011 .", "adjustments not related to volume , including net profit booking rate adjustments and other matters described above , were approximately $ 30 million lower for 2012 compared to 2011 .", "2011 compared to 2010 aeronautics 2019 net sales for 2011 increased $ 1.3 billion , or 10% ( 10 % ) , compared to 2010 .", "the growth in net sales primarily was due to higher volume of about $ 850 million for work performed on the f-35 lrip contracts as production increased ; higher volume of about $ 745 million for c-130 programs due to an increase in deliveries ( 33 c-130j aircraft delivered in 2011 compared to 25 during 2010 ) and support activities ; about $ 425 million for f-16 support activities and an increase in aircraft deliveries ( 22 f-16 aircraft delivered in 2011 compared to 20 during 2010 ) ; and approximately $ 90 million for higher volume on c-5 programs ( two c-5m aircraft delivered in 2011 compared to one during 2010 ) .", "these increases partially were offset by a decline in net sales of approximately $ 675 million due to lower volume on the f-22 program and lower net sales of about $ 155 million for the f-35 development contract as development work decreased. ." ]

[ "aeronautics business segment 2019s results of operations discussion .", "the increase in our consolidated net adjustments for 2011 as compared to 2010 primarily was due to an increase in profit booking rate adjustments at our is&gs and aeronautics business segments .", "aeronautics our aeronautics business segment is engaged in the research , design , development , manufacture , integration , sustainment , support , and upgrade of advanced military aircraft , including combat and air mobility aircraft , unmanned air vehicles , and related technologies .", "aeronautics 2019 major programs include the f-35 lightning ii joint strike fighter , f-22 raptor , f-16 fighting falcon , c-130 hercules , and the c-5m super galaxy .", "aeronautics 2019 operating results included the following ( in millions ) : ." ]

[ "the operating profit of 2012 is 1699 ; the operating profit of 2011 is 1630 ; the operating profit of 2010 is 1498 ;" ]

[ [ "", "2012", "2011", "2010" ], [ "net sales", "$ 14953", "$ 14362", "$ 13109" ], [ "operating profit", "1699", "1630", "1498" ], [ "operating margins", "11.4% ( 11.4 % )", "11.3% ( 11.3 % )", "11.4% ( 11.4 % )" ], [ "backlog at year-end", "30100", "30500", "27500" ] ]

[ "( 1 ) for additional information about long-term debt and trust preferred securities , see note 20 to the consolidated financial statements on page 169 .", "( 2 ) relates primarily to accounts payable and accrued expenses included in other liabilities in the company 2019s consolidated balance sheet .", "also included are various litigation settlements. ." ]

[ "contractual obligations the following table includes aggregated information about citigroup 2019s contractual obligations that impact its short- and long-term liquidity and capital needs .", "the table includes information about payments due under specified contractual obligations , aggregated by type of contractual obligation .", "it includes the maturity profile of the company 2019s consolidated long-term debt , operating leases and other long-term liabilities .", "the company 2019s capital lease obligations are included in purchase obligations in the table .", "citigroup 2019s contractual obligations include purchase obligations that are enforceable and legally binding for the company .", "for the purposes of the table below , purchase obligations are included through the termination date of the respective agreements , even if the contract is renewable .", "many of the purchase agreements for goods or services include clauses that would allow the company to cancel the agreement with specified notice ; however , that impact is not included in the table ( unless citigroup has already notified the counterparty of its intention to terminate the agreement ) .", "other liabilities reflected on the company 2019s consolidated balance sheet include obligations for goods and services that have already been received , litigation settlements , uncertain tax positions , as well as other long-term liabilities that have been incurred and will ultimately be paid in cash .", "excluded from the following table are obligations that are generally short term in nature , including deposit liabilities and securities sold under agreements to repurchase .", "the table also excludes certain insurance and investment contracts subject to mortality and morbidity risks or without defined maturities , such that the timing of payments and withdrawals is uncertain .", "the liabilities related to these insurance and investment contracts are included on the consolidated balance sheet as insurance policy and claims reserves , contractholder funds , and separate and variable accounts .", "citigroup 2019s funding policy for pension plans is generally to fund to the minimum amounts required by the applicable laws and regulations .", "at december 31 , 2008 , there were no minimum required contributions , and no contributions are currently planned for the u.s .", "pension plans .", "accordingly , no amounts have been included in the table below for future contributions to the u.s .", "pension plans .", "for the non-u.s .", "plans , discretionary contributions in 2009 are anticipated to be approximately $ 167 million and this amount has been included in purchase obligations in the table below .", "the estimated pension plan contributions are subject to change , since contribution decisions are affected by various factors , such as market performance , regulatory and legal requirements , and management 2019s ability to change funding policy .", "for additional information regarding the company 2019s retirement benefit obligations , see note 9 to the consolidated financial statements on page 144. ." ]

[ "in millions of dollars at year end the operating lease obligations of contractual obligations by year 2009 is 1470 ; the operating lease obligations of contractual obligations by year 2010 is 1328 ; the operating lease obligations of contractual obligations by year 2011 is 1134 ; the operating lease obligations of contractual obligations by year 2012 is 1010 ; the operating lease obligations of contractual obligations by year 2013 is 922 ; the operating lease obligations of contractual obligations by year thereafter is 3415 ;" ]

[ [ "in millions of dollars at year end", "contractual obligations by year 2009", "contractual obligations by year 2010", "contractual obligations by year 2011", "contractual obligations by year 2012", "contractual obligations by year 2013", "contractual obligations by year thereafter" ], [ "long-term debt obligations ( 1 )", "$ 88472", "$ 41431", "$ 42112", "$ 27999", "$ 25955", "$ 133624" ], [ "operating lease obligations", "1470", "1328", "1134", "1010", "922", "3415" ], [ "purchase obligations", "2214", "750", "700", "444", "395", "1316" ], [ "other liabilities reflected on the company 2019s consolidated balance sheet ( 2 )", "38221", "792", "35", "36", "38", "3193" ], [ "total", "$ 130377", "$ 44301", "$ 43981", "$ 29489", "$ 27310", "$ 141548" ] ]

[ "because of the interrelation of applied 2019s operations , properties within a country may be shared by the segments operating within that country .", "the company 2019s headquarters offices are in santa clara , california .", "products in semiconductor systems are manufactured in santa clara , california ; austin , texas ; gloucester , massachusetts ; kalispell , montana ; rehovot , israel ; and singapore .", "remanufactured equipment products in the applied global services segment are produced primarily in austin , texas .", "products in the display and adjacent markets segment are manufactured in alzenau , germany and tainan , taiwan .", "other products are manufactured in treviso , italy .", "applied also owns and leases offices , plants and warehouse locations in many locations throughout the world , including in europe , japan , north america ( principally the united states ) , israel , china , india , korea , southeast asia and taiwan .", "these facilities are principally used for manufacturing ; research , development and engineering ; and marketing , sales and customer support .", "applied also owns a total of approximately 269 acres of buildable land in montana , texas , california , israel and italy that could accommodate additional building space .", "applied considers the properties that it owns or leases as adequate to meet its current and future requirements .", "applied regularly assesses the size , capability and location of its global infrastructure and periodically makes adjustments based on these assessments. ." ]

[ "item 2 : properties information concerning applied 2019s properties is set forth below: ." ]

[ "( square feet in thousands ) the total of united states is 5567 ; the total of other countries is 3758 ; the total of total is 9325 ;" ]

[ [ "( square feet in thousands )", "united states", "other countries", "total" ], [ "owned", "4530", "2417", "6947" ], [ "leased", "1037", "1341", "2378" ], [ "total", "5567", "3758", "9325" ] ]

[ "the stock price performance included in this graph is not necessarily indicative of future stock price performance. ." ]

[ "the following graph compares the cumulative 4-year total stockholder return on our common stock relative to the cumulative total return of the nasdaq composite index and the s&p 400 information technology index .", "the graph assumes that the value of the investment in our common stock and in each index ( including reinvestment of dividends ) was $ 100 on january 3 , 2009 and tracks it through december 29 , 2012 .", "comparison of 4 year cumulative total return* among cadence design systems , inc. , the nasdaq composite index , and s&p 400 information technology cadence design systems , inc .", "nasdaq composite s&p 400 information technology 12/29/121/1/11 12/31/111/2/101/3/09 *$ 100 invested on 1/3/09 in stock or 12/31/08 in index , including reinvestment of dividends .", "indexes calculated on month-end basis .", "copyright a9 2013 s&p , a division of the mcgraw-hill companies all rights reserved. ." ]

[ "the nasdaq composite of 1/3/2009 is 100.00 ; the nasdaq composite of 1/2/2010 is 139.32 ; the nasdaq composite of 1/1/2011 is 164.84 ; the nasdaq composite of 12/31/2011 is 167.06 ; the nasdaq composite of 12/29/2012 is 187.66 ;" ]

[ [ "", "1/3/2009", "1/2/2010", "1/1/2011", "12/31/2011", "12/29/2012" ], [ "cadence design systems inc .", "100.00", "155.99", "215.10", "270.83", "350.00" ], [ "nasdaq composite", "100.00", "139.32", "164.84", "167.06", "187.66" ], [ "s&p 400 information technology", "100.00", "151.58", "198.02", "174.88", "201.26" ] ]

[ "( 1 ) in exchange for employees 2019 contributions to the successful reorganization , including agreeing to reductions in pay and benefits , we agreed in the plan to provide each employee group a deemed claim , which was used to provide a distribution of a portion of the equity of the reorganized entity to those employees .", "each employee group received a deemed claim amount based upon a portion of the value of cost savings provided by that group through reductions to pay and benefits as well as through certain work rule changes .", "the total value of this deemed claim was approximately $ 1.7 billion .", "( 2 ) amounts include allowed claims ( claims approved by the bankruptcy court ) and estimated allowed claims relating to ( i ) the rejection or modification of financings related to aircraft and ( ii ) entry of orders treated as unsecured claims with respect to facility agreements supporting certain issuances of special facility revenue bonds .", "the debtors recorded an estimated claim associated with the rejection or modification of a financing or facility agreement when the applicable motion was filed with the bankruptcy court to reject or modify such financing or facility agreement and the debtors believed that it was probable the motion would be approved , and there was sufficient information to estimate the claim .", "see note 2 to aag 2019s consolidated financial statements in part ii , item 8a for further information .", "( 3 ) pursuant to the plan , the debtors agreed to allow certain post-petition unsecured claims on obligations .", "as a result , during the year ended december 31 , 2013 , we recorded reorganization charges to adjust estimated allowed claim amounts previously recorded on rejected special facility revenue bonds of $ 180 million , allowed general unsecured claims related to the 1990 and 1994 series of special facility revenue bonds that financed certain improvements at jfk , and rejected bonds that financed certain improvements at ord , which are included in the table above. ." ]

[ "table of contents extinguishment costs incurred as a result of the repayment of certain aircraft secured indebtedness , including cash interest charges and non-cash write offs of unamortized debt issuance costs .", "as a result of the 2013 refinancing activities and the early extinguishment of american 2019s 7.50% ( 7.50 % ) senior secured notes in 2014 , we recognized $ 100 million less interest expense in 2014 as compared to the 2013 period .", "other nonoperating expense , net in 2014 consisted principally of net foreign currency losses of $ 114 million and early debt extinguishment charges of $ 56 million .", "other nonoperating expense , net in 2013 consisted principally of net foreign currency losses of $ 56 million and early debt extinguishment charges of $ 29 million .", "other nonoperating expense , net increased $ 64 million , or 73.1% ( 73.1 % ) , during 2014 primarily due to special charges recognized as a result of early debt extinguishment and an increase in foreign currency losses driven by the strengthening of the u.s .", "dollar in foreign currency transactions , principally in latin american markets .", "we recorded a $ 43 million special charge for venezuelan foreign currency losses in 2014 .", "see part ii , item 7a .", "quantitative and qualitative disclosures about market risk for further discussion of our cash held in venezuelan bolivars .", "in addition , our 2014 nonoperating special items included $ 56 million primarily related to the early extinguishment of american 2019s 7.50% ( 7.50 % ) senior secured notes and other indebtedness .", "reorganization items , net reorganization items refer to revenues , expenses ( including professional fees ) , realized gains and losses and provisions for losses that are realized or incurred as a direct result of the chapter 11 cases .", "the following table summarizes the components included in reorganization items , net on aag 2019s consolidated statement of operations for the year ended december 31 , 2013 ( in millions ) : ." ]

[ "the labor-related deemed claim ( 1 ) of 2013 is $ 1733 ;", "the total reorganization items net of 2013 is $ 2655 ;" ]

[ [ "", "2013" ], [ "labor-related deemed claim ( 1 )", "$ 1733" ], [ "aircraft and facility financing renegotiations and rejections ( 2 ) ( 3 )", "325" ], [ "fair value of conversion discount ( 4 )", "218" ], [ "professional fees", "199" ], [ "other", "180" ], [ "total reorganization items net", "$ 2655" ] ]

[ "performance coatings sales increased $ 905 million or 24% ( 24 % ) in 2008 .", "sales increased 21% ( 21 % ) due to acquisitions , largely due to the impact of the sigmakalon protective and marine coatings business .", "sales also grew by 3% ( 3 % ) due to higher selling prices and 2% ( 2 % ) due to the positive impact of foreign currency translation .", "sales volumes declined 2% ( 2 % ) as reduced volumes in architectural coatings 2013 americas and asia pacific and automotive refinish were not fully offset by improved volumes in the aerospace and protective and marine businesses .", "volume growth in the aerospace businesses occurred throughout the world , while the volume growth in protective and marine coatings occurred primarily in asia .", "segment income increased $ 19 million in 2008 .", "factors increasing segment income were the positive impact of acquisitions , lower overhead costs and the positive impact of foreign currency translation .", "the benefit of higher selling prices more than offset the negative impact of inflation , including higher raw materials and benefit costs .", "segment income was reduced by the impact of the lower sales volumes in architectural coatings and automotive refinish , which more than offset the benefit of volume gains in the aerospace and protective and marine coatings businesses .", "industrial coatings sales increased $ 353 million or 10% ( 10 % ) in 2008 .", "sales increased 11% ( 11 % ) due to acquisitions , including the impact of the sigmakalon industrial coatings business .", "sales also grew 3% ( 3 % ) due to the positive impact of foreign currency translation , and 1% ( 1 % ) from higher selling prices .", "sales volumes declined 5% ( 5 % ) as reduced volumes were experienced in all three businesses , reflecting the substantial declines in global demand .", "volume declines in the automotive and industrial businesses were primarily in the u.s .", "and canada .", "additional volume declines in the european and asian regions were experienced by the industrial coatings business .", "in packaging coatings , volume declines in europe were only partially offset by gains in asia and north america .", "segment income declined $ 158 million in 2008 due to the lower volumes and inflation , including higher raw material and freight costs , the impact of which was only partially mitigated by the increased selling prices .", "segment income also declined due to higher selling and distribution costs , including higher bad debt expense .", "factors increasing segment income were the earnings of acquired businesses , the positive impact of foreign currency translation and lower manufacturing costs .", "architectural coatings - emea sales for the year were $ 2249 million .", "this business was acquired in the sigmakalon acquisition .", "segment income was $ 141 million , which included amortization expense of $ 63 million related to acquired intangible assets and depreciation expense of $ 58 million .", "optical and specialty materials sales increased $ 105 million or 10% ( 10 % ) in 2008 .", "sales increased 5% ( 5 % ) due to higher volumes in our optical products business resulting from the launch of transitions optical 2019s next generation lens product , 3% ( 3 % ) due to the positive impact of foreign currency translation and 2% ( 2 % ) due to increased selling prices .", "segment income increased $ 9 million in 2008 .", "the increase in segment income was the result of increased sales volumes and the favorable impact of currency partially offset by increased selling and marketing costs in the optical products business related to the transitions optical product launch mentioned above .", "increased selling prices only partially offset higher raw material costs , primarily in our silicas business .", "commodity chemicals sales increased $ 298 million or 19% ( 19 % ) in 2008 .", "sales increased 18% ( 18 % ) due to higher selling prices and 1% ( 1 % ) due to improved sales volumes .", "segment income increased $ 97 million in 2008 .", "segment income increased in large part due to higher selling prices , which more than offset the negative impact of inflation , primarily higher raw material and energy costs .", "segment income also improved due to lower manufacturing costs , while lower margin mix and equity earnings reduced segment income .", "glass sales decreased $ 281 million or 13% ( 13 % ) in 2008 .", "sales decreased 11% ( 11 % ) due to the divestiture of the automotive glass and services business in september 2008 and 4% ( 4 % ) due to lower sales volumes .", "sales increased 2% ( 2 % ) due to higher selling prices .", "segment income decreased $ 68 million in 2008 .", "segment income decreased due to the divestiture of the automotive glass and services business , lower volumes , the negative impact of inflation and lower equity earnings from our asian fiber glass joint ventures .", "factors increasing segment income were lower manufacturing costs , higher selling prices and stronger foreign currency .", "outlook overall global economic activity was volatile in 2008 with an overall downward trend .", "the north american economy continued a slowing trend which began during the second half of 2006 and continued all of 2007 .", "the impact of the weakening u.s .", "economy was particularly 2008 ppg annual report and form 10-k 17 ." ]

[ "management 2019s discussion and analysis results of reportable business segments net sales segment income ( millions ) 2008 2007 2008 2007 ." ]

[ "sales also grew by 3% ( 3 % ) due to higher selling prices and 2% ( 2 % ) due to the positive impact of foreign currency translation .", "( millions ) performance coatings the ( millions ) performance coatings of net sales 2008 $ 4716 is net sales 2008 $ 4716 ; the ( millions ) performance coatings of 2007 $ 3811 is 2007 $ 3811 ; the ( millions ) performance coatings of segment income 2008 $ 582 is segment income 2008 $ 582 ; the ( millions ) performance coatings of 2007 $ 563 is 2007 $ 563 ;" ]

[ [ "( millions ) performance coatings", "net sales 2008 $ 4716", "2007 $ 3811", "segment income 2008 $ 582", "2007 $ 563" ], [ "industrial coatings", "3999", "3646", "212", "370" ], [ "architectural coatings 2013 emea", "2249", "2014", "141", "2014" ], [ "optical and specialty materials", "1134", "1029", "244", "235" ], [ "commodity chemicals", "1837", "1539", "340", "243" ], [ "glass", "1914", "2195", "70", "138" ] ]

[ "the postretirement benefit plan adjustments are shown net of tax benefits at december 31 , 2012 , 2011 , and 2010 of $ 7.4 billion , $ 6.1 billion , and $ 4.9 billion .", "these tax benefits include amounts recognized on our income tax returns as current deductions and deferred income taxes , which will be recognized on our tax returns in future years .", "see note 7 and note 9 for more information on our income taxes and postretirement plans .", "recent accounting pronouncements 2013 effective january 1 , 2012 , we retrospectively adopted new guidance issued by the financial accounting standards board by presenting total comprehensive income and the components of net income and other comprehensive loss in two separate but consecutive statements .", "the adoption of this guidance resulted only in a change in how we present other comprehensive loss in our consolidated financial statements and did not have any impact on our results of operations , financial position , or cash flows. ." ]

[ "until the hedged transaction is recognized in earnings .", "changes in the fair value of the derivatives that are attributable to the ineffective portion of the hedges , or of derivatives that are not considered to be highly effective hedges , if any , are immediately recognized in earnings .", "the aggregate notional amount of our outstanding foreign currency hedges at december 31 , 2012 and 2011 was $ 1.3 billion and $ 1.7 billion .", "the aggregate notional amount of our outstanding interest rate swaps at december 31 , 2012 and 2011 was $ 503 million and $ 450 million .", "derivative instruments did not have a material impact on net earnings and comprehensive income during 2012 , 2011 , and 2010 .", "substantially all of our derivatives are designated for hedge accounting .", "see note 15 for more information on the fair value measurements related to our derivative instruments .", "stock-based compensation 2013 compensation cost related to all share-based payments including stock options and restricted stock units is measured at the grant date based on the estimated fair value of the award .", "we generally recognize the compensation cost ratably over a three-year vesting period .", "income taxes 2013 we periodically assess our tax filing exposures related to periods that are open to examination .", "based on the latest available information , we evaluate our tax positions to determine whether the position will more likely than not be sustained upon examination by the internal revenue service ( irs ) .", "if we cannot reach a more-likely-than-not determination , no benefit is recorded .", "if we determine that the tax position is more likely than not to be sustained , we record the largest amount of benefit that is more likely than not to be realized when the tax position is settled .", "we record interest and penalties related to income taxes as a component of income tax expense on our statements of earnings .", "interest and penalties are not material .", "accumulated other comprehensive loss 2013 changes in the balance of accumulated other comprehensive loss , net of income taxes , consisted of the following ( in millions ) : postretirement benefit plan adjustments other , net accumulated comprehensive ." ]

[ "the aggregate notional amount of our outstanding foreign currency hedges at december 31 , 2012 and 2011 was $ 1.3 billion and $ 1.7 billion .", "the aggregate notional amount of our outstanding interest rate swaps at december 31 , 2012 and 2011 was $ 503 million and $ 450 million ." ]

[ [ "", "postretirement benefit plan adjustments", "other net", "accumulated other comprehensive loss" ], [ "balance at january 1 2010", "$ -8564 ( 8564 )", "$ -31 ( 31 )", "$ -8595 ( 8595 )" ], [ "other comprehensive ( loss ) income", "-430 ( 430 )", "15", "-415 ( 415 )" ], [ "balance at december 31 2010", "-8994 ( 8994 )", "-16 ( 16 )", "-9010 ( 9010 )" ], [ "other comprehensive loss", "-2192 ( 2192 )", "-55 ( 55 )", "-2247 ( 2247 )" ], [ "balance at december 31 2011", "-11186 ( 11186 )", "-71 ( 71 )", "-11257 ( 11257 )" ], [ "other comprehensive ( loss ) income", "-2346 ( 2346 )", "110", "-2236 ( 2236 )" ], [ "balance at december 31 2012", "$ -13532 ( 13532 )", "$ 39", "$ -13493 ( 13493 )" ] ]

[ "item 11 2014executive compensation we incorporate by reference in this item 11 the information relating to executive and director compensation contained under the headings 201cother information about the board and its committees , 201d 201ccompensation and other benefits 201d and 201creport of the compensation committee 201d from our proxy statement to be delivered in connection with our 2007 annual meeting of shareholders to be held on september 26 , 2007 .", "item 12 2014security ownership of certain beneficial owners andmanagement and related stockholdermatters we incorporate by reference in this item 12 the information relating to ownership of our common stock by certain persons contained under the headings 201ccommon stock ownership of management 201d and 201ccommon stock ownership by certain other persons 201d from our proxy statement to be delivered in connection with our 2007 annual meeting of shareholders to be held on september 26 , 2007 .", "we have four compensation plans under which our equity securities are authorized for issuance .", "the global payments inc .", "amended and restated 2000 long-term incentive plan , global payments inc .", "amended and restated 2005 incentive plan , the non-employee director stock option plan , and employee stock purchase plan have been approved by security holders .", "the information in the table below is as of may 31 , 2007 .", "for more information on these plans , see note 8 to notes to consolidated financial statements .", "plan category number of securities to be issued upon exercise of outstanding options , warrants and rights weighted- average exercise price of outstanding options , warrants and rights number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) equity compensation plans approved by security holders: .", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", "5171000 $ 25 7779000 ( 1 ) equity compensation plans not approved by security holders: .", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", "2014 2014 2014 total .", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", "5171000 $ 25 7779000 ( 1 ) ( 1 ) also includes shares of common stock available for issuance other than upon the exercise of an option , warrant or right under the amended and restated 2000 non-employee director stock option plan , the amended and restated 2005 incentive plan and the amended and restated 2000 employee stock purchase item 13 2014certain relationships and related transactions , and director independence we incorporate by reference in this item 13 the information regarding certain relationships and related transactions between us and some of our affiliates and the independence of our board of directors contained under the headings 201ccertain relationships and related transactions 201d and 201cother information about the board and its committees 2014director independence 201d from our proxy statement to be delivered in connection with our 2007 annual meeting of shareholders to be held on september 26 , 2007 .", "item 14 2014principal accounting fees and services we incorporate by reference in this item 14 the information regarding principal accounting fees and services contained under the heading 201cauditor information 201d from our proxy statement to be delivered in connection with our 2007 annual meeting of shareholders to be held on september 26 , 2007. ." ]

[ "item 11 2014executive compensation we incorporate by reference in this item 11 the information relating to executive and director compensation contained under the headings 201cother information about the board and its committees , 201d 201ccompensation and other benefits 201d and 201creport of the compensation committee 201d from our proxy statement to be delivered in connection with our 2007 annual meeting of shareholders to be held on september 26 , 2007 .", "item 12 2014security ownership of certain beneficial owners andmanagement and related stockholdermatters we incorporate by reference in this item 12 the information relating to ownership of our common stock by certain persons contained under the headings 201ccommon stock ownership of management 201d and 201ccommon stock ownership by certain other persons 201d from our proxy statement to be delivered in connection with our 2007 annual meeting of shareholders to be held on september 26 , 2007 .", "we have four compensation plans under which our equity securities are authorized for issuance .", "the global payments inc .", "amended and restated 2000 long-term incentive plan , global payments inc .", "amended and restated 2005 incentive plan , the non-employee director stock option plan , and employee stock purchase plan have been approved by security holders .", "the information in the table below is as of may 31 , 2007 .", "for more information on these plans , see note 8 to notes to consolidated financial statements .", "plan category number of securities to be issued upon exercise of outstanding options , warrants and rights weighted- average exercise price of outstanding options , warrants and rights number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) equity compensation plans approved by security holders: .", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", "5171000 $ 25 7779000 ( 1 ) equity compensation plans not approved by security holders: .", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", "2014 2014 2014 total .", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", "5171000 $ 25 7779000 ( 1 ) ( 1 ) also includes shares of common stock available for issuance other than upon the exercise of an option , warrant or right under the amended and restated 2000 non-employee director stock option plan , the amended and restated 2005 incentive plan and the amended and restated 2000 employee stock purchase item 13 2014certain relationships and related transactions , and director independence we incorporate by reference in this item 13 the information regarding certain relationships and related transactions between us and some of our affiliates and the independence of our board of directors contained under the headings 201ccertain relationships and related transactions 201d and 201cother information about the board and its committees 2014director independence 201d from our proxy statement to be delivered in connection with our 2007 annual meeting of shareholders to be held on september 26 , 2007 .", "item 14 2014principal accounting fees and services we incorporate by reference in this item 14 the information regarding principal accounting fees and services contained under the heading 201cauditor information 201d from our proxy statement to be delivered in connection with our 2007 annual meeting of shareholders to be held on september 26 , 2007. ." ]

[ "plan category the equity compensation plans approved by security holders : of number of securities to be issued upon exercise of outstanding options warrants and rights ( a ) is 5171000 ; the equity compensation plans approved by security holders : of weighted- average exercise price of outstanding options warrants and rights ( b ) is $ 25 ; the equity compensation plans approved by security holders : of number of securities remaining available for futureissuance under equity compensation plans ( excluding securities reflected in column ( a ) ) ( c ) is 7779000 ; the equity compensation plans approved by security holders : of is -1 ( 1 ) ;" ]

[ [ "plan category", "number of securities to be issued upon exercise of outstanding options warrants and rights ( a )", "weighted- average exercise price of outstanding options warrants and rights ( b )", "number of securities remaining available for futureissuance under equity compensation plans ( excluding securities reflected in column ( a ) ) ( c )", "" ], [ "equity compensation plans approved by security holders:", "5171000", "$ 25", "7779000", "-1 ( 1 )" ], [ "equity compensation plans not approved by security holders:", "2014", "2014", "2014", "" ], [ "total", "5171000", "$ 25", "7779000", "-1 ( 1 )" ] ]

[ "if the national u.s .", "on-highway average price for a gallon of diesel fuel as published by the department of energy exceeds the contract price per gallon , we receive the difference between the average price and the contract price ( multiplied by the notional gallons ) from the counterparty .", "if the average price is less than the contract price per gallon , we pay the difference to the counterparty .", "the fair values of our fuel hedges are determined using standard option valuation models with assumptions about commodity prices being based on those observed in underlying markets ( level 2 in the fair value hierarchy ) .", "the aggregate fair values of our outstanding fuel hedges as of december 31 , 2013 and 2012 were current assets of $ 6.7 million and $ 3.1 million , respectively , and current liabilities of $ 0.1 million and $ 0.4 million , respectively , and have been recorded in other prepaid expenses and other current assets and other accrued liabilities in our consolidated balance sheets , respectively .", "the ineffective portions of the changes in fair values resulted in ( losses ) gains of less than $ 0.1 million for the years ended december 31 , 2013 , 2012 and 2011 , and have been recorded in other income ( expense ) , net in our consolidated statements of income .", "total gain ( loss ) recognized in other comprehensive income for fuel hedges ( the effective portion ) was $ 2.4 million , $ 3.4 million and $ ( 1.7 ) million , for the years ended december 31 , 2013 , 2012 and 2011 , respectively .", "recycling commodity hedges our revenue from sale of recycling commodities is primarily from sales of old corrugated cardboard ( occ ) and old newspaper ( onp ) .", "we use derivative instruments such as swaps and costless collars designated as cash flow hedges to manage our exposure to changes in prices of these commodities .", "we have entered into multiple agreements related to the forecasted occ and onp sales .", "the agreements qualified for , and were designated as , effective hedges of changes in the prices of certain forecasted recycling commodity sales ( commodity hedges ) .", "we entered into costless collar agreements on forecasted sales of occ and onp .", "the agreements involve combining a purchased put option giving us the right to sell occ and onp at an established floor strike price with a written call option obligating us to deliver occ and onp at an established cap strike price .", "the puts and calls have the same settlement dates , are net settled in cash on such dates and have the same terms to expiration .", "the contemporaneous combination of options resulted in no net premium for us and represent costless collars .", "under these agreements , we will make or receive no payments as long as the settlement price is between the floor price and cap price ; however , if the settlement price is above the cap , we will pay the counterparty an amount equal to the excess of the settlement price over the cap times the monthly volumes hedged .", "if the settlement price ." ]

[ "republic services , inc .", "notes to consolidated financial statements 2014 ( continued ) 16 .", "financial instruments fuel hedges we have entered into multiple swap agreements designated as cash flow hedges to mitigate some of our exposure related to changes in diesel fuel prices .", "these swaps qualified for , and were designated as , effective hedges of changes in the prices of forecasted diesel fuel purchases ( fuel hedges ) .", "the following table summarizes our outstanding fuel hedges as of december 31 , 2013 : year gallons hedged weighted average contract price per gallon ." ]

[ "year the 2014 of gallons hedged is 27000000 ; the 2014 of weighted average contractprice per gallon is $ 3.81 ;", "year the 2016 of gallons hedged is 12000000 ; the 2016 of weighted average contractprice per gallon is 3.68 ;" ]

[ [ "year", "gallons hedged", "weighted average contractprice per gallon" ], [ "2014", "27000000", "$ 3.81" ], [ "2015", "18000000", "3.74" ], [ "2016", "12000000", "3.68" ] ]

[ "the company and certain of its subsidiaries are currently under examination by the relevant taxing authorities for various tax years .", "the company regularly assesses the potential outcome of these examinations in each of the taxing jurisdictions when determining the adequacy of the amount of unrecognized tax benefit recorded .", "while it is often difficult to predict the final outcome or the timing of resolution of any particular uncertain tax position , we believe we have appropriately accrued for our uncertain tax benefits .", "however , audit outcomes and the timing of audit settlements and future events that would impact our previously recorded unrecognized tax benefits and the range of anticipated increases or decreases in unrecognized tax benefits are subject to significant uncertainty .", "it is possible that the ultimate outcome of current or future examinations may exceed our provision for current unrecognized tax benefits in amounts that could be material , but cannot be estimated as of december 31 , 2017 .", "our effective tax rate and net income in any given future period could therefore be materially impacted .", "21 .", "discontinued operations due to a portfolio evaluation in the first half of 2016 , management decided to pursue a strategic shift of its distribution companies in brazil , sul and eletropaulo , to reduce the company's exposure to the brazilian distribution market .", "eletropaulo 2014 in november 2017 , eletropaulo converted its preferred shares into ordinary shares and transitioned the listing of those shares into the novo mercado , which is a listing segment of the brazilian stock exchange with the highest standards of corporate governance .", "upon conversion of the preferred shares into ordinary shares , aes no longer controlled eletropaulo , but maintained significant influence over the business .", "as a result , the company deconsolidated eletropaulo .", "after deconsolidation , the company's 17% ( 17 % ) ownership interest is reflected as an equity method investment .", "the company recorded an after-tax loss on deconsolidation of $ 611 million , which primarily consisted of $ 455 million related to cumulative translation losses and $ 243 million related to pension losses reclassified from aocl .", "in december 2017 , all the remaining criteria were met for eletropaulo to qualify as a discontinued operation .", "therefore , its results of operations and financial position were reported as such in the consolidated financial statements for all periods presented .", "eletropaulo's pre-tax loss attributable to aes , including the loss on deconsolidation , for the years ended december 31 , 2017 and 2016 was $ 633 million and $ 192 million , respectively .", "eletropaulo's pre-tax income attributable to aes for the year ended december 31 , 2015 was $ 73 million .", "prior to its classification as discontinued operations , eletropaulo was reported in the brazil sbu reportable segment .", "sul 2014 the company executed an agreement for the sale of sul , a wholly-owned subsidiary , in june 2016 .", "the results of operations and financial position of sul are reported as discontinued operations in the consolidated financial statements for all periods presented .", "upon meeting the held-for-sale criteria , the company recognized an after-tax loss of $ 382 million comprised of a pre-tax impairment charge of $ 783 million , offset by a tax benefit of $ 266 million related to the impairment of the sul long lived assets and a tax benefit of $ 135 million for deferred taxes related to the investment in sul .", "prior to the impairment charge , the carrying value of the sul asset group of $ 1.6 billion was greater than its approximate fair value less costs to sell .", "however , the impairment charge was limited to the carrying value of the long lived assets of the sul disposal group .", "on october 31 , 2016 , the company completed the sale of sul and received final proceeds less costs to sell of $ 484 million , excluding contingent consideration .", "upon disposal of sul , the company incurred an additional after-tax ." ]

[ "the aes corporation notes to consolidated financial statements 2014 ( continued ) december 31 , 2017 , 2016 , and 2015 the total amount of unrecognized tax benefits anticipated to result in a net decrease to unrecognized tax benefits within 12 months of december 31 , 2017 is estimated to be between $ 5 million and $ 15 million , primarily relating to statute of limitation lapses and tax exam settlements .", "the following is a reconciliation of the beginning and ending amounts of unrecognized tax benefits for the periods indicated ( in millions ) : ." ]

[ "december 31 , the balance at december 31 of 2017 is $ 348 ; the balance at december 31 of 2016 is $ 352 ; the balance at december 31 of 2015 is $ 364 ;" ]

[ [ "december 31,", "2017", "2016", "2015" ], [ "balance at january 1", "$ 352", "$ 364", "$ 384" ], [ "additions for current year tax positions", "2014", "2", "2" ], [ "additions for tax positions of prior years", "2", "1", "12" ], [ "reductions for tax positions of prior years", "-5 ( 5 )", "-1 ( 1 )", "-7 ( 7 )" ], [ "effects of foreign currency translation", "2014", "2014", "-3 ( 3 )" ], [ "settlements", "2014", "-13 ( 13 )", "-17 ( 17 )" ], [ "lapse of statute of limitations", "-1 ( 1 )", "-1 ( 1 )", "-7 ( 7 )" ], [ "balance at december 31", "$ 348", "$ 352", "$ 364" ] ]

[ "although average short-duration advances for the year ended december 31 , 2013 increased compared to the year ended december 31 , 2012 , such average advances remained low relative to historical levels , mainly the result of clients continuing to hold higher levels of liquidity .", "average other interest-earning assets increased to $ 11.16 billion for the year ended december 31 , 2013 from $ 7.38 billion for the year ended december 31 , 2012 .", "the increased levels were primarily the result of higher levels of cash collateral provided in connection with our participation in principal securities finance transactions .", "aggregate average interest-bearing deposits increased to $ 109.25 billion for the year ended december 31 , 2013 from $ 98.39 billion for the year ended december 31 , 2012 .", "this increase was mainly due to higher levels of non-u.s .", "transaction accounts associated with the growth of new and existing business in assets under custody and administration .", "future transaction account levels will be influenced by the underlying asset servicing business , as well as market conditions , including the general levels of u.s .", "and non-u.s .", "interest rates .", "average other short-term borrowings declined to $ 3.79 billion for the year ended december 31 , 2013 from $ 4.68 billion for the year ended december 31 , 2012 , as higher levels of client deposits provided additional liquidity .", "average long-term debt increased to $ 8.42 billion for the year ended december 31 , 2013 from $ 7.01 billion for the year ended december 31 , 2012 .", "the increase primarily reflected the issuance of $ 1.0 billion of extendible notes by state street bank in december 2012 , the issuance of $ 1.5 billion of senior and subordinated debt in may 2013 , and the issuance of $ 1.0 billion of senior debt in november 2013 .", "this increase was partly offset by maturities of $ 1.75 billion of senior debt in the second quarter of 2012 .", "average other interest-bearing liabilities increased to $ 6.46 billion for the year ended december 31 , 2013 from $ 5.90 billion for the year ended december 31 , 2012 , primarily the result of higher levels of cash collateral received from clients in connection with our participation in principal securities finance transactions .", "several factors could affect future levels of our net interest revenue and margin , including the mix of client liabilities ; actions of various central banks ; changes in u.s .", "and non-u.s .", "interest rates ; changes in the various yield curves around the world ; revised or proposed regulatory capital or liquidity standards , or interpretations of those standards ; the amount of discount accretion generated by the former conduit securities that remain in our investment securities portfolio ; and the yields earned on securities purchased compared to the yields earned on securities sold or matured .", "based on market conditions and other factors , we continue to reinvest the majority of the proceeds from pay- downs and maturities of investment securities in highly-rated securities , such as u.s .", "treasury and agency securities , federal agency mortgage-backed securities and u.s .", "and non-u.s .", "mortgage- and asset-backed securities .", "the pace at which we continue to reinvest and the types of investment securities purchased will depend on the impact of market conditions and other factors over time .", "we expect these factors and the levels of global interest rates to dictate what effect our reinvestment program will have on future levels of our net interest revenue and net interest margin. ." ]

[ "management 2019s discussion and analysis of financial condition and results of operations ( continued ) the following table presents average u.s .", "and non-u.s .", "short-duration advances for the years ended december 31 : years ended december 31 ." ]

[ "( in millions ) the average total short-duration advances of 2013 is $ 3749 ; the average total short-duration advances of 2012 is $ 3365 ; the average total short-duration advances of 2011 is $ 3579 ;" ]

[ [ "( in millions )", "2013", "2012", "2011" ], [ "average u.s . short-duration advances", "$ 2356", "$ 1972", "$ 1994" ], [ "average non-u.s . short-duration advances", "1393", "1393", "1585" ], [ "average total short-duration advances", "$ 3749", "$ 3365", "$ 3579" ] ]

[ "( a ) repurchase obligation associated with sold loan portfolios of $ 121.4 billion and $ 139.8 billion at december 31 , 2011 and december 31 , 2010 , respectively .", "( b ) repurchase obligation associated with sold loan portfolios of $ 4.5 billion and $ 6.5 billion at december 31 , 2011 and december 31 , 2010 , respectively .", "pnc is no longer engaged in the brokered home equity lending business , which was acquired with national city .", "management believes our indemnification and repurchase liabilities appropriately reflect the estimated probable losses on investor indemnification and repurchase claims at december 31 , 2011 and 2010 .", "while management seeks to obtain all relevant information in estimating the indemnification and repurchase liability , the estimation process is inherently uncertain and imprecise and , accordingly , it is reasonably possible that future indemnification and repurchase losses could be more or less than our established liability .", "factors that could affect our estimate include the volume of valid claims driven by investor strategies and behavior , our ability to successfully negotiate claims with investors , housing prices , and other economic conditions .", "at december 31 , 2011 , we estimate that it is reasonably possible that we could incur additional losses in excess of our indemnification and repurchase liability of up to $ 85 million .", "this estimate of potential additional losses in excess of our liability is based on assumed higher investor demands , lower claim rescissions , and lower home prices than our current assumptions .", "reinsurance agreements we have two wholly-owned captive insurance subsidiaries which provide reinsurance to third-party insurers related to insurance sold to our customers .", "these subsidiaries enter into various types of reinsurance agreements with third-party insurers where the subsidiary assumes the risk of loss through either an excess of loss or quota share agreement up to 100% ( 100 % ) reinsurance .", "in excess of loss agreements , these subsidiaries assume the risk of loss for an excess layer of coverage up to specified limits , once a defined first loss percentage is met .", "in quota share agreements , the subsidiaries and third-party insurers share the responsibility for payment of all claims .", "these subsidiaries provide reinsurance for accidental death & dismemberment , credit life , accident & health , lender placed 200 the pnc financial services group , inc .", "2013 form 10-k ." ]

[ "agreements associated with the agency securitizations , most sale agreements do not provide for penalties or other remedies if we do not respond timely to investor indemnification or repurchase requests .", "origination and sale of residential mortgages is an ongoing business activity and , accordingly , management continually assesses the need to recognize indemnification and repurchase liabilities pursuant to the associated investor sale agreements .", "we establish indemnification and repurchase liabilities for estimated losses on sold first and second-lien mortgages and home equity loans/lines for which indemnification is expected to be provided or for loans that are expected to be repurchased .", "for the first and second-lien mortgage sold portfolio , we have established an indemnification and repurchase liability pursuant to investor sale agreements based on claims made and our estimate of future claims on a loan by loan basis .", "these relate primarily to loans originated during 2006-2008 .", "for the home equity loans/lines sold portfolio , we have established indemnification and repurchase liabilities based upon this same methodology for loans sold during 2005-2007 .", "indemnification and repurchase liabilities are initially recognized when loans are sold to investors and are subsequently evaluated by management .", "initial recognition and subsequent adjustments to the indemnification and repurchase liability for the sold residential mortgage portfolio are recognized in residential mortgage revenue on the consolidated income statement .", "since pnc is no longer engaged in the brokered home equity lending business , only subsequent adjustments are recognized to the home equity loans/lines indemnification and repurchase liability .", "these adjustments are recognized in other noninterest income on the consolidated income statement .", "management 2019s subsequent evaluation of these indemnification and repurchase liabilities is based upon trends in indemnification and repurchase requests , actual loss experience , risks in the underlying serviced loan portfolios , and current economic conditions .", "as part of its evaluation , management considers estimated loss projections over the life of the subject loan portfolio .", "at december 31 , 2011 and december 31 , 2010 , the total indemnification and repurchase liability for estimated losses on indemnification and repurchase claims totaled $ 130 million and $ 294 million , respectively , and was included in other liabilities on the consolidated balance sheet .", "an analysis of the changes in this liability during 2011 and 2010 follows : analysis of indemnification and repurchase liability for asserted claims and unasserted claims ." ]

[ "at december 31 , 2011 and december 31 , 2010 , the total indemnification and repurchase liability for estimated losses on indemnification and repurchase claims totaled $ 130 million and $ 294 million , respectively , and was included in other liabilities on the consolidated balance sheet ." ]

[ [ "in millions", "2011 residential mortgages ( a )", "2011 home equity loans/lines ( b )", "2011 total", "2011 residential mortgages ( a )", "2011 home equity loans/lines ( b )", "total" ], [ "january 1", "$ 144", "$ 150", "$ 294", "$ 229", "$ 41", "$ 270" ], [ "reserve adjustments net", "102", "4", "106", "120", "144", "264" ], [ "losses 2013 loan repurchases and settlements", "-163 ( 163 )", "-107 ( 107 )", "-270 ( 270 )", "-205 ( 205 )", "-35 ( 35 )", "-240 ( 240 )" ], [ "december 31", "$ 83", "$ 47", "$ 130", "$ 144", "$ 150", "$ 294" ] ]

[ "as of november 2 , 2019 and november 3 , 2018 , the company capitalized $ 6.8 million and $ 7.1 million , respectively , of stock-based compensation in inventory .", "additional paid-in-capital ( apic ) pp poolp p ( ) the company adopted asu 2016-09 during fiscal 2018 .", "asu 2016-09 eliminated the apic pool and requires that excess tax benefits and tax deficiencies be recorded in the income statement when awards are settled .", "as a result of this adoption the company recorded total excess tax benefits of $ 28.7 million and $ 26.2 million in fiscal 2019 and fiscal 2018 , respectively , from its stock-based compensation payments within income tax expense in its consolidated statements of income .", "for fiscal 2017 , the apic pool represented the excess tax benefits related to stock-based compensation that were available to absorb future tax deficiencies .", "if the amount of future tax deficiencies was greater than the available apic pool , the company recorded the excess as income tax expense in its consolidated statements of income .", "for fiscal 2017 , the company had a sufficient apic pool to cover any tax deficiencies recorded and as a result , these deficiencies did not affect its results of operations .", "analog devices , inc .", "notes to consolidated financial statements 2014 ( continued ) ." ]

[ "expected term 2014 the company uses historical employee exercise and option expiration data to estimate the expected term assumption for the black-scholes grant-date valuation .", "the company believes that this historical data is currently the best estimate of the expected term of a new option , and that generally its employees exhibit similar exercise behavior .", "risk-free interest rate 2014 the yield on zero-coupon u.s .", "treasury securities for a period that is commensurate with the expected term assumption is used as the risk-free interest rate .", "expected dividend yield 2014 expected dividend yield is calculated by annualizing the cash dividend declared by the company 2019s board of directors for the current quarter and dividing that result by the closing stock price on the date of grant .", "until such time as the company 2019s board of directors declares a cash dividend for an amount that is different from the current quarter 2019s cash dividend , the current dividend will be used in deriving this assumption .", "cash dividends are not paid on options , restricted stock or restricted stock units .", "in connection with the acquisition , the company granted restricted stock awards to replace outstanding restricted stock awards of linear employees .", "these restricted stock awards entitle recipients to voting and nonforfeitable dividend rights from the date of grant .", "stock-based compensation expensexp p the amount of stock-based compensation expense recognized during a period is based on the value of the awards that are ultimately expected to vest .", "forfeitures are estimated at the time of grant and revised , if necessary , in subsequent periods if actual forfeitures differ from those estimates .", "the term 201cforfeitures 201d is distinct from 201ccancellations 201d or 201cexpirations 201d and represents only the unvested portion of the surrendered stock-based award .", "based on an analysis of its historical forfeitures , the company has applied an annual forfeitureff rate of 5.0% ( 5.0 % ) to all unvested stock-based awards as of november 2 , 2019 .", "this analysis will be re-evaluated quarterly and the forfeiture rate will be adjusted as necessary .", "ultimately , the actual expense recognized over the vesting period will only be for those awards that vest .", "total stock-based compensation expense recognized is as follows: ." ]

[ "the research and development of 2019 is 75305 ; the research and development of 2018 is 81444 ; the research and development of 2017 is 51258 ;" ]

[ [ "", "2019", "2018", "2017" ], [ "cost of sales", "$ 20628", "$ 18733", "$ 12569" ], [ "research and development", "75305", "81444", "51258" ], [ "selling marketing general and administrative", "51829", "50988", "40361" ], [ "special charges", "2538", "2014", "2014" ], [ "total stock-based compensation expense", "$ 150300", "$ 151165", "$ 104188" ] ]

[ "the company expects that any reasonably possible change in the amount of unrecognized tax benefits in the next 12 months would not be significant .", "the total amount of unrecognized tax benefits that , if recognized , would affect the effective tax rate was $ 81 million as of december 31 , 2013 .", "the company recognizes accrued interest and penalties related to unrecognized tax benefits in income tax expense .", "as of december 31 , 2013 , 2012 and 2011 , the company had liabilities for estimated interest and penalties on unrecognized tax benefits of $ 9 million , $ 10 million and $ 15 million , respectively .", "the company recognized $ 2 million and $ 5 million of income in 2013 and 2012 , respectively , related to the reduction of estimated interest and penalties .", "the company recognized no income or expense for estimated interest and penalties during the year ended december 31 , 2011 .", "13 .", "pensions and other postretirement benefits defined benefit plans ppg has defined benefit pension plans that cover certain employees worldwide .", "the principal defined benefit pension plans are those in the u.s. , canada , the netherlands and the u.k .", "which , in the aggregate represent approximately 91% ( 91 % ) of the projected benefit obligation at december 31 , 2013 , of which the u.s .", "defined benefit pension plans represent the majority .", "ppg also sponsors welfare benefit plans that provide postretirement medical and life insurance benefits for certain u.s .", "and canadian employees and their dependents .", "these programs require retiree contributions based on retiree-selected coverage levels for certain retirees and their dependents and provide for sharing of future benefit cost increases between ppg and participants based on management discretion .", "the company has the right to modify or terminate certain of these benefit plans in the future .", "salaried and certain hourly employees in the u.s .", "hired on or after october 1 , 2004 , or rehired on or after october 1 , 2012 are not eligible for postretirement medical benefits .", "salaried employees in the u.s .", "hired , rehired or transferred to salaried status on or after january 1 , 2006 , and certain u.s .", "hourly employees hired in 2006 or thereafter are eligible to participate in a defined contribution retirement plan .", "these employees are not eligible for defined benefit pension plan benefits .", "plan design changes in january 2011 , the company approved an amendment to one of its u.s .", "defined benefit pension plans that represented about 77% ( 77 % ) of the total u.s .", "projected benefit obligation at december 31 , 2011 .", "depending upon the affected employee's combined age and years of service to ppg , this change resulted in certain employees no longer accruing benefits under this plan as of december 31 , 2011 , while the remaining employees will no longer accrue benefits under this plan as of december 31 , 2020 .", "the affected employees will participate in the company 2019s defined contribution retirement plan from the date their benefit under the defined benefit plan is frozen .", "the company remeasured the projected benefit obligation of this amended plan , which lowered 2011 pension expense by approximately $ 12 million .", "the company made similar changes to certain other u.s .", "defined benefit pension plans in 2011 .", "the company recognized a curtailment loss and special termination benefits associated with these plan amendments of $ 5 million in 2011 .", "the company plans to continue reviewing and potentially changing other ppg defined benefit plans in the future .", "separation and merger of commodity chemicals business on january 28 , 2013 , ppg completed the separation of its commodity chemicals business and the merger of the subsidiary holding the ppg commodity chemicals business with a subsidiary of georgia gulf , as discussed in note 22 , 201cseparation and merger transaction . 201d ppg transferred the defined benefit pension plan and other postretirement benefit liabilities for the affected employees in the u.s. , canada , and taiwan in the separation resulting in a net partial settlement loss of $ 33 million notes to the consolidated financial statements ." ]

[ "52 2013 ppg annual report and form 10-k repatriation of undistributed earnings of non-u.s .", "subsidiaries as of december 31 , 2013 and december 31 , 2012 would have resulted in a u.s .", "tax cost of approximately $ 250 million and $ 110 million , respectively .", "the company files federal , state and local income tax returns in numerous domestic and foreign jurisdictions .", "in most tax jurisdictions , returns are subject to examination by the relevant tax authorities for a number of years after the returns have been filed .", "the company is no longer subject to examinations by tax authorities in any major tax jurisdiction for years before 2006 .", "additionally , the internal revenue service has completed its examination of the company 2019s u.s .", "federal income tax returns filed for years through 2010 .", "the examination of the company 2019s u.s .", "federal income tax return for 2011 is currently underway and is expected to be finalized during 2014 .", "a reconciliation of the total amounts of unrecognized tax benefits ( excluding interest and penalties ) as of december 31 follows: ." ]

[ "as of december 31 , 2013 , 2012 and 2011 , the company had liabilities for estimated interest and penalties on unrecognized tax benefits of $ 9 million , $ 10 million and $ 15 million , respectively ." ]

[ [ "( millions )", "2013", "2012", "2011" ], [ "balance at january 1", "$ 82", "$ 107", "$ 111" ], [ "additions based on tax positions related to the current year", "12", "12", "15" ], [ "additions for tax positions of prior years", "9", "2", "17" ], [ "reductions for tax positions of prior years", "-10 ( 10 )", "-12 ( 12 )", "-19 ( 19 )" ], [ "pre-acquisition unrecognized tax benefits", "2014", "2", "2014" ], [ "reductions for expiration of the applicable statute of limitations", "-10 ( 10 )", "-6 ( 6 )", "-7 ( 7 )" ], [ "settlements", "2014", "-23 ( 23 )", "-8 ( 8 )" ], [ "foreign currency translation", "2", "2014", "-2 ( 2 )" ], [ "balance at december 31", "$ 85", "$ 82", "$ 107" ] ]

[ "the company has modified certain option awards to revise vesting and exercise terms for certain terminated employees and recognized charges of $ 7.0 million , $ 3.0 million and $ 2.3 million for the years ended december 31 , 2005 , 2004 and 2003 , respectively .", "in addition , the stock-based employee compensation amounts above for the year ended december 31 , 2005 , include approximately $ 2.4 million of unearned compensation amortization related to unvested stock options assumed in the merger with spectrasite , inc .", "such charges are reflected in impairments , net loss on sale of long-lived assets , restructuring and merger related expense with corresponding adjustments to additional paid-in capital and unearned compensation in the accompanying consolidated financial statements .", "recent accounting pronouncements 2014in december 2004 , the fasb issued sfas 123r , which supersedes apb no .", "25 , and amends sfas no .", "95 , 201cstatement of cash flows . 201d this statement addressed the accounting for share-based payments to employees , including grants of employee stock options .", "under the new standard ." ]

[ "american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) sfas no .", "148 .", "in accordance with apb no .", "25 , the company recognizes compensation expense based on the excess , if any , of the quoted stock price at the grant date of the award or other measurement date over the amount an employee must pay to acquire the stock .", "the company 2019s stock option plans are more fully described in note 14 .", "in december 2004 , the fasb issued sfas no .", "123 ( revised 2004 ) , 201cshare-based payment 201d ( sfas 123r ) , as further described below .", "during the year ended december 31 , 2005 , the company reevaluated the assumptions used to estimate the fair value of stock options issued to employees .", "as a result , the company lowered its expected volatility assumption for options granted after july 1 , 2005 to approximately 30% ( 30 % ) and increased the expected life of option grants to 6.25 years using the simplified method permitted by sec sab no .", "107 , 201dshare-based payment 201d ( sab no .", "107 ) .", "the company made this change based on a number of factors , including the company 2019s execution of its strategic plans to sell non-core businesses , reduce leverage and refinance its debt , and its recent merger with spectrasite , inc .", "( see note 2. ) management had previously based its volatility assumptions on historical volatility since inception , which included periods when the company 2019s capital structure was more highly leveraged than current levels and expected levels for the foreseeable future .", "management 2019s estimate of future volatility is based on its consideration of all available information , including historical volatility , implied volatility of publicly traded options , the company 2019s current capital structure and its publicly announced future business plans .", "for comparative purposes , a 10% ( 10 % ) change in the volatility assumption would change pro forma stock option expense and pro forma net loss by approximately $ 0.1 million for the year ended december 31 , 2005 .", "( see note 14. ) the following table illustrates the effect on net loss and net loss per common share if the company had applied the fair value recognition provisions of sfas no .", "123 ( as amended ) to stock-based compensation .", "the estimated fair value of each option is calculated using the black-scholes option-pricing model ( in thousands , except per share amounts ) : ." ]

[ "the company has modified certain option awards to revise vesting and exercise terms for certain terminated employees and recognized charges of $ 7.0 million , $ 3.0 million and $ 2.3 million for the years ended december 31 , 2005 , 2004 and 2003 , respectively ." ]

[ [ "", "2005", "2004", "2003" ], [ "net loss as reported", "$ -171590 ( 171590 )", "$ -247587 ( 247587 )", "$ -325321 ( 325321 )" ], [ "add : stock-based employee compensation expense net of related tax effect included in net loss as reported", "7104", "2297", "2077" ], [ "less : total stock-based employee compensation expense determined under fair value based method for all awards net of related taxeffect", "-22238 ( 22238 )", "-23906 ( 23906 )", "-31156 ( 31156 )" ], [ "pro-forma net loss", "$ -186724 ( 186724 )", "$ -269196 ( 269196 )", "$ -354400 ( 354400 )" ], [ "basic and diluted net loss per share as reported", "$ -0.57 ( 0.57 )", "$ -1.10 ( 1.10 )", "$ -1.56 ( 1.56 )" ], [ "basic and diluted net loss per share pro-forma", "$ -0.62 ( 0.62 )", "$ -1.20 ( 1.20 )", "$ -1.70 ( 1.70 )" ] ]

[ "the stock price performance included in this graph is not necessarily indicative of future stock price performance. ." ]

[ "stock total return performance the following graph compares our total return to stockholders with the returns of the standard & poor 2019s composite 500 index ( 201cs&p 500 201d ) and the dow jones us select health care providers index ( 201cpeer group 201d ) for the five years ended december 31 , 2018 .", "the graph assumes an investment of $ 100 in each of our common stock , the s&p 500 , and the peer group on december 31 , 2013 , and that dividends were reinvested when paid. ." ]

[ "the hum of 12/31/2013 is $ 100 ; the hum of 12/31/2014 is $ 140 ; the hum of 12/31/2015 is $ 176 ; the hum of 12/31/2016 is $ 202 ; the hum of 12/31/2017 is $ 247 ; the hum of 12/31/2018 is $ 287 ;", "the s&p 500 of 12/31/2013 is $ 100 ; the s&p 500 of 12/31/2014 is $ 114 ; the s&p 500 of 12/31/2015 is $ 115 ; the s&p 500 of 12/31/2016 is $ 129 ; the s&p 500 of 12/31/2017 is $ 157 ; the s&p 500 of 12/31/2018 is $ 150 ;", "the peer group of 12/31/2013 is $ 100 ; the peer group of 12/31/2014 is $ 128 ; the peer group of 12/31/2015 is $ 135 ; the peer group of 12/31/2016 is $ 137 ; the peer group of 12/31/2017 is $ 173 ; the peer group of 12/31/2018 is $ 191 ;" ]

[ [ "", "12/31/2013", "12/31/2014", "12/31/2015", "12/31/2016", "12/31/2017", "12/31/2018" ], [ "hum", "$ 100", "$ 140", "$ 176", "$ 202", "$ 247", "$ 287" ], [ "s&p 500", "$ 100", "$ 114", "$ 115", "$ 129", "$ 157", "$ 150" ], [ "peer group", "$ 100", "$ 128", "$ 135", "$ 137", "$ 173", "$ 191" ] ]

[ "we do not currently hedge against equity price risk .", "equity investments are assessed for other-than- temporary impairment on a quarterly basis. ." ]

[ "subject to fluctuation and , consequently , the amount realized in the subsequent sale of an investment may differ significantly from its current reported value .", "fluctuations in the market price of a security may result from perceived changes in the underlying economic characteristics of the issuer , the relative price of alternative investments and general market conditions .", "the table below summarizes equity investments that are subject to equity price fluctuations at december 31 , 2012 .", "equity investments are included in other assets in our consolidated balance sheets .", "( in millions ) carrying unrealized net of tax ." ]

[ "( in millions ) the bolsa mexicana de valores s.a.b . de c.v . of costbasis is 17.3 ; the bolsa mexicana de valores s.a.b . de c.v . of fairvalue is 29.3 ; the bolsa mexicana de valores s.a.b . de c.v . of carryingvalue is 29.3 ; the bolsa mexicana de valores s.a.b . de c.v . of unrealizedgainnet of tax is 7.6 ;" ]

[ [ "( in millions )", "costbasis", "fairvalue", "carryingvalue", "unrealizedgainnet of tax" ], [ "bm&fbovespa s.a .", "$ 262.9", "$ 690.6", "$ 690.6", "$ 271.4" ], [ "bolsa mexicana de valores s.a.b . de c.v .", "17.3", "29.3", "29.3", "7.6" ], [ "imarex asa", "2014", "1.8", "1.8", "1.1" ] ]

[ "loss advisories and drawdowns loss advisories and drawdowns are tools used to highlight to senior management trading losses above certain levels and initiate discus- sion of remedies .", "economic value stress testing while var reflects the risk of loss due to adverse changes in normal markets , stress testing captures the firm 2019s exposure to unlikely but plausible events in abnormal markets .", "the firm conducts economic- value stress tests using multiple scenarios that assume credit spreads widen significantly , equity prices decline and significant changes in interest rates across the major currencies .", "other scenar- ios focus on the risks predominant in individual business segments and include scenarios that focus on the potential for adverse movements in complex portfolios .", "scenarios were updated more frequently in 2009 and , in some cases , redefined to reflect the signifi- cant market volatility which began in late 2008 .", "along with var , stress testing is important in measuring and controlling risk .", "stress testing enhances the understanding of the firm 2019s risk profile and loss potential , and stress losses are monitored against limits .", "stress testing is also utilized in one-off approvals and cross-business risk measurement , as well as an input to economic capital allocation .", "stress-test results , trends and explanations based on current market risk positions are reported to the firm 2019s senior management and to the lines of business to help them better measure and manage risks and to understand event risk 2013sensitive positions. ." ]

[ "management 2019s discussion and analysis jpmorgan chase & co./2009 annual report 130 the following histogram illustrates the daily market risk 2013related gains and losses for ib and consumer/cio positions for 2009 .", "the chart shows that the firm posted market risk 2013related gains on 227 out of 261 days in this period , with 69 days exceeding $ 160 million .", "the inset graph looks at those days on which the firm experienced losses and depicts the amount by which the 95% ( 95 % ) confidence level var exceeded the actual loss on each of those days .", "losses were sustained on 34 days during 2009 and exceeded the var measure on one day due to high market volatility in the first quarter of 2009 .", "under the 95% ( 95 % ) confidence interval , the firm would expect to incur daily losses greater than that pre- dicted by var estimates about twelve times a year .", "the following table provides information about the gross sensitivity of dva to a one-basis-point increase in jpmorgan chase 2019s credit spreads .", "this sensitivity represents the impact from a one-basis-point parallel shift in jpmorgan chase 2019s entire credit curve .", "as credit curves do not typically move in a parallel fashion , the sensitivity multiplied by the change in spreads at a single maturity point may not be representative of the actual revenue recognized .", "debit valuation adjustment sensitivity 1 basis point increase in ( in millions ) jpmorgan chase credit spread ." ]

[ "( in millions ) the december 31 2009 of 1 basis point increase in jpmorgan chase credit spread is $ 39 ;", "( in millions ) the december 31 2008 of 1 basis point increase in jpmorgan chase credit spread is $ 37 ;" ]

[ [ "( in millions )", "1 basis point increase in jpmorgan chase credit spread" ], [ "december 31 2009", "$ 39" ], [ "december 31 2008", "$ 37" ] ]

[ "g .", "grant accounting certain of the company 2019s foreign subsidiaries have received various grants from governmental agencies .", "these grants include capital , employment and research and development grants .", "capital grants for the acquisition of property and equipment are netted against the related capital expenditures and amortized as a credit to depreciation expense over the useful life of the related asset .", "employment grants , which relate to employee hiring and training , and research and development grants are recognized in earnings in the period in which the related expenditures are incurred by the company .", "h .", "translation of foreign currencies the functional currency for the company 2019s foreign sales and research and development operations is the applicable local currency .", "gains and losses resulting from translation of these foreign currencies into u.s .", "dollars are recorded in accumulated other comprehensive ( loss ) income .", "transaction gains and losses and remeasurement of foreign currency denominated assets and liabilities are included in income currently , including those at the company 2019s principal foreign manufacturing operations where the functional currency is the u.s .", "dollar .", "foreign currency transaction gains or losses included in other expenses , net , were not material in fiscal 2009 , 2008 or 2007 .", "i .", "derivative instruments and hedging agreements foreign exchange exposure management 2014 the company enters into forward foreign currency exchange contracts to offset certain operational and balance sheet exposures from the impact of changes in foreign currency exchange rates .", "such exposures result from the portion of the company 2019s operations , assets and liabilities that are denominated in currencies other than the u.s .", "dollar , primarily the euro ; other exposures include the philippine peso and the british pound .", "these foreign currency exchange contracts are entered into to support transactions made in the normal course of business , and accordingly , are not speculative in nature .", "the contracts are for periods consistent with the terms of the underlying transactions , generally one year or less .", "hedges related to anticipated transactions are designated and documented at the inception of the respective hedges as cash flow hedges and are evaluated for effectiveness monthly .", "derivative instruments are employed to eliminate or minimize certain foreign currency exposures that can be confidently identified and quantified .", "as the terms of the contract and the underlying transaction are matched at inception , forward contract effectiveness is calculated by comparing the change in fair value of the contract to the change in the forward value of the anticipated transaction , with the effective portion of the gain or loss on the derivative instrument reported as a component of accumulated other comprehensive ( loss ) income ( oci ) in shareholders 2019 equity and reclassified into earnings in the same period during which the hedged transaction affects earnings .", "any residual change in fair value of the instruments , or ineffectiveness , is recognized immediately in other income/expense .", "additionally , the company enters into forward foreign currency contracts that economically hedge the gains and losses generated by the remeasurement of certain recorded assets and liabilities in a non-functional currency .", "changes in the fair value of these undesignated hedges are recognized in other income/expense immediately as an offset to the changes in the fair value of the asset or liability being hedged .", "analog devices , inc .", "notes to consolidated financial statements 2014 ( continued ) ." ]

[ "intangible assets are amortized on a straight-line basis over their estimated useful lives or on an accelerated method of amortization that is expected to reflect the estimated pattern of economic use .", "the remaining amortization expense will be recognized over a weighted-average period of approximately 0.9 years .", "amortization expense from continuing operations , related to intangibles was $ 7.4 million , $ 9.3 million and $ 9.2 million in fiscal 2009 , 2008 and 2007 , respectively .", "the company expects annual amortization expense for these intangible assets to be: ." ]

[ "fiscal years the 2010 of amortization expense is $ 5425 ;", "amortization expense from continuing operations , related to intangibles was $ 7.4 million , $ 9.3 million and $ 9.2 million in fiscal 2009 , 2008 and 2007 , respectively ." ]

[ [ "fiscal years", "amortization expense" ], [ "2010", "$ 5425" ], [ "2011", "$ 1430" ] ]

[ "net sales net sales decreased by $ 0.4 million , or 0.0% ( 0.0 % ) , for the year ended december 31 , 2003 from the year ended december 31 , 2002 .", "net sales increased due to improved sales volumes compared to 2002 , however , this increase was entirely offset by lower sales prices .", "total corrugated products volume sold increased 2.1% ( 2.1 % ) to 28.1 billion square feet in 2003 compared to 27.5 billion square feet in 2002 .", "on a comparable shipment-per-workday basis , corrugated products sales volume increased 1.7% ( 1.7 % ) in 2003 from 2002 .", "shipments-per-workday is calculated by dividing our total corrugated products volume during the year by the number of workdays within the year .", "the lower percentage increase was due to the fact that 2003 had one more workday ( 252 days ) , those days not falling on a weekend or holiday , than 2002 ( 251 days ) .", "containerboard sales volume to external domestic and export customers decreased 6.7% ( 6.7 % ) to 445000 tons for the year ended december 31 , 2003 from 477000 tons in the comparable period of 2002 .", "income before interest and taxes income before interest and taxes decreased by $ 48.4 million , or 33.3% ( 33.3 % ) , for the year ended december 31 , 2003 compared to 2002 .", "included in income before interest and taxes for the twelve months ." ]

[ "other expense , net , decreased $ 6.2 million , or 50.0% ( 50.0 % ) , for the year ended december 31 , 2004 compared to the year ended december 31 , 2003 .", "the decrease was primarily due to a reduction in charges on disposal and transfer costs of fixed assets and facility closure costs of $ 3.3 million , reduced legal charges of $ 1.5 million , and a reduction in expenses of $ 1.4 million consisting of individually insignificant items .", "interest expense and income taxes interest expense decreased in 2004 by $ 92.2 million , or 75.7% ( 75.7 % ) , from 2003 .", "this decrease included $ 73.3 million of expenses related to the company 2019s debt refinancing , which was completed in july 2003 .", "the $ 73.3 million of expenses consisted of $ 55.9 million paid in premiums for the tender of the 95 20448% ( 20448 % ) senior subordinated notes , and a $ 17.4 million non-cash charge for the write-off of deferred financing fees related to the 95 20448% ( 20448 % ) notes and pca 2019s original revolving credit facility .", "excluding the $ 73.3 million charge , interest expense was $ 18.9 million lower than in 2003 as a result of lower interest rates attributable to the company 2019s july 2003 refinancing and lower debt levels .", "pca 2019s effective tax rate was 38.0% ( 38.0 % ) for the year ended december 31 , 2004 and 42.3% ( 42.3 % ) for the year ended december 31 , 2003 .", "the higher tax rate in 2003 is due to stable permanent items over lower book income ( loss ) .", "for both years 2004 and 2003 tax rates are higher than the federal statutory rate of 35.0% ( 35.0 % ) due to state income taxes .", "year ended december 31 , 2003 compared to year ended december 31 , 2002 the historical results of operations of pca for the years ended december 31 , 2003 and 2002 are set forth below : for the year ended december 31 , ( in millions ) 2003 2002 change ." ]

[ "( in millions ) the net sales of 2003 is $ 1735.5 ; the net sales of 2002 is $ 1735.9 ; the net sales of change is $ -0.4 ( 0.4 ) ;", "( in millions ) the income before interest and taxes of 2003 is $ 96.9 ; the income before interest and taxes of 2002 is $ 145.3 ; the income before interest and taxes of change is $ -48.4 ( 48.4 ) ;" ]

[ [ "( in millions )", "2003", "2002", "change" ], [ "net sales", "$ 1735.5", "$ 1735.9", "$ -0.4 ( 0.4 )" ], [ "income before interest and taxes", "$ 96.9", "$ 145.3", "$ -48.4 ( 48.4 )" ], [ "interest expense net", "-121.8 ( 121.8 )", "-67.7 ( 67.7 )", "-54.1 ( 54.1 )" ], [ "income ( loss ) before taxes", "-24.9 ( 24.9 )", "77.6", "-102.5 ( 102.5 )" ], [ "( provision ) benefit for income taxes", "10.5", "-29.4 ( 29.4 )", "39.9" ], [ "net income ( loss )", "$ -14.4 ( 14.4 )", "$ 48.2", "$ -62.6 ( 62.6 )" ] ]

[ "1 the total number of shares of our common stock , par value $ 0.10 per share , repurchased were withheld under the terms of grants under employee stock- based compensation plans to offset tax withholding obligations that occurred upon vesting and release of restricted shares ( the 201cwithheld shares 201d ) .", "2 the average price per share for each of the months in the fiscal quarter and for the three-month period was calculated by dividing the sum in the applicable period of the aggregate value of the tax withholding obligations by the sum of the number of withheld shares .", "3 in february 2017 , the board authorized a share repurchase program to repurchase from time to time up to $ 300.0 million , excluding fees , of our common stock ( the 201c2017 share repurchase program 201d ) .", "in february 2018 , the board authorized a share repurchase program to repurchase from time to time up to $ 300.0 million , excluding fees , of our common stock , which was in addition to any amounts remaining under the 2017 share repurchase program .", "on july 2 , 2018 , in connection with the announcement of the acxiom acquisition , we announced that share repurchases will be suspended for a period of time in order to reduce the increased debt levels incurred in conjunction with the acquisition , and no shares were repurchased pursuant to the share repurchase programs in the periods reflected .", "there are no expiration dates associated with the share repurchase programs. ." ]

[ "part ii item 5 .", "market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities market information our common stock is listed and traded on the new york stock exchange under the symbol 201cipg 201d .", "as of february 13 , 2019 , there were approximately 10000 registered holders of our outstanding common stock .", "on february 13 , 2019 , we announced that our board of directors ( the 201cboard 201d ) had declared a common stock cash dividend of $ 0.235 per share , payable on march 15 , 2019 to holders of record as of the close of business on march 1 , 2019 .", "although it is the board 2019s current intention to declare and pay future dividends , there can be no assurance that such additional dividends will in fact be declared and paid .", "any and the amount of any such declaration is at the discretion of the board and will depend upon factors such as our earnings , financial position and cash requirements .", "equity compensation plans see item 12 for information about our equity compensation plans .", "transfer agent and registrar for common stock the transfer agent and registrar for our common stock is : computershare shareowner services llc 480 washington boulevard 29th floor jersey city , new jersey 07310 telephone : ( 877 ) 363-6398 sales of unregistered securities not applicable .", "repurchases of equity securities the following table provides information regarding our purchases of our equity securities during the period from october 1 , 2018 to december 31 , 2018 .", "total number of shares ( or units ) purchased 1 average price paid per share ( or unit ) 2 total number of shares ( or units ) purchased as part of publicly announced plans or programs 3 maximum number ( or approximate dollar value ) of shares ( or units ) that may yet be purchased under the plans or programs 3 ." ]

[ "as of february 13 , 2019 , there were approximately 10000 registered holders of our outstanding common stock .", "on february 13 , 2019 , we announced that our board of directors ( the 201cboard 201d ) had declared a common stock cash dividend of $ 0.235 per share , payable on march 15 , 2019 to holders of record as of the close of business on march 1 , 2019 ." ]

[ [ "", "total number ofshares ( or units ) purchased1", "average price paidper share ( or unit ) 2", "total number ofshares ( or units ) purchased as part ofpublicly announcedplans or programs3", "maximum number ( orapproximate dollar value ) of shares ( or units ) that may yet be purchasedunder the plans orprograms3" ], [ "october 1 - 31", "3824", "$ 23.30", "2014", "$ 338421933" ], [ "november 1 - 30", "1750", "$ 23.77", "2014", "$ 338421933" ], [ "december 1 - 31", "2014", "2014", "2014", "$ 338421933" ], [ "total", "5574", "$ 23.45", "2014", "" ] ]

[ "under the terms of the merger agreement , we agreed with aetna that our quarterly dividend would not exceed $ 0.29 per share prior to the closing or termination of the merger .", "on october 26 , 2016 , the board declared a cash dividend of $ 0.29 per share that was paid on january 27 , 2017 to stockholders of record on january 12 , 2017 , for an aggregate amount of $ 43 million .", "on february 14 , 2017 , following the termination of the merger agreement , the board declared a cash dividend of $ 0.40 per share , to be paid on april 28 , 2017 , to the stockholders of record on march 31 , 2017 .", "declaration and payment of future quarterly dividends is at the discretion of our board and may be adjusted as business needs or market conditions change .", "stock repurchases in september 2014 , our board of directors replaced a previous share repurchase authorization of up to $ 1 billion ( of which $ 816 million remained unused ) with an authorization for repurchases of up to $ 2 billion of our common shares exclusive of shares repurchased in connection with employee stock plans , which expired on december 31 , 2016 .", "under the share repurchase authorization , shares may have been purchased from time to time at prevailing prices in the open market , by block purchases , through plans designed to comply with rule 10b5-1 under the securities exchange act of 1934 , as amended , or in privately-negotiated transactions ( including pursuant to accelerated share repurchase agreements with investment banks ) , subject to certain regulatory restrictions on volume , pricing , and timing .", "pursuant to the merger agreement , after july 2 , 2015 , we were prohibited from repurchasing any of our outstanding securities without the prior written consent of aetna , other than repurchases of shares of our common stock in connection with the exercise of outstanding stock options or the vesting or settlement of outstanding restricted stock awards .", "accordingly , as announced on july 3 , 2015 , we suspended our share repurchase program. ." ]

[ "humana inc .", "notes to consolidated financial statements 2014 ( continued ) 15 .", "stockholders 2019 equity as discussed in note 2 , we elected to early adopt new guidance related to accounting for employee share-based payments prospectively effective january 1 , 2016 .", "the adoption of this new guidance resulted in the recognition of approximately $ 20 million of tax benefits in net income in our consolidated statement of income for the three months ended march 31 , 2016 that had previously been recorded as additional paid-in capital in our consolidated balance sheet .", "dividends the following table provides details of dividend payments , excluding dividend equivalent rights , in 2014 , 2015 , and 2016 under our board approved quarterly cash dividend policy : payment amount per share amount ( in millions ) ." ]

[ "paymentdate the 2014 of amountper share is $ 1.10 ; the 2014 of totalamount ( in millions ) is $ 170 ;" ]

[ [ "paymentdate", "amountper share", "totalamount ( in millions )" ], [ "2014", "$ 1.10", "$ 170" ], [ "2015", "$ 1.14", "$ 170" ], [ "2016", "$ 1.16", "$ 172" ] ]

[ "the demand for property and casualty insurance generally rises as the overall level of economic activity increases and generally falls as such activity decreases , affecting both the commissions and fees generated by our brokerage business .", "the economic activity that impacts property and casualty insurance is described as exposure units , and is most closely correlated with employment levels , corporate revenue and asset values .", "during 2014 , pricing was flat on average globally , and we would still consider this to be a \"soft market.\" in a soft market , premium rates flatten or decrease , along with commission revenues , due to increased competition for market share among insurance carriers or increased underwriting capacity .", "changes in premiums have a direct and potentially material impact on the insurance brokerage industry , as commission revenues are generally based on a percentage of the premiums paid by insureds .", "additionally , continuing through 2014 , we faced difficult conditions as a result of continued weakness in the global economy , the repricing of credit risk and the deterioration of the financial markets .", "weak economic conditions in many markets around the globe have reduced our customers' demand for our retail brokerage and reinsurance brokerage products , which have had a negative impact on our operational results .", "risk solutions generated approximately 65% ( 65 % ) of our consolidated total revenues in 2014 .", "revenues are generated primarily through fees paid by clients , commissions and fees paid by insurance and reinsurance companies , and investment income on funds held on behalf of clients .", "our revenues vary from quarter to quarter throughout the year as a result of the timing of our clients' policy renewals , the net effect of new and lost business , the timing of services provided to our clients , and the income we earn on investments , which is heavily influenced by short-term interest rates .", "we operate in a highly competitive industry and compete with many retail insurance brokerage and agency firms , as well as with individual brokers , agents , and direct writers of insurance coverage .", "specifically , we address the highly specialized ." ]

[ "equity equity at december 31 , 2014 was $ 6.6 billion , a decrease of $ 1.6 billion from december 31 , 2013 .", "the decrease resulted primarily due to share repurchases of $ 2.3 billion , $ 273 million of dividends to shareholders , and an increase in accumulated other comprehensive loss of $ 760 million , partially offset by net income of $ 1.4 billion .", "the $ 760 million increase in accumulated other comprehensive loss from december 31 , 2013 , primarily reflects the following : 2022 negative net foreign currency translation adjustments of $ 504 million , which are attributable to the strengthening of the u.s .", "dollar against certain foreign currencies , 2022 an increase of $ 260 million in net post-retirement benefit obligations , 2022 net derivative gains of $ 5 million , and 2022 net investment losses of $ 1 million .", "review by segment general we serve clients through the following segments : 2022 risk solutions acts as an advisor and insurance and reinsurance broker , helping clients manage their risks , via consultation , as well as negotiation and placement of insurance risk with insurance carriers through our global distribution network .", "2022 hr solutions partners with organizations to solve their most complex benefits , talent and related financial challenges , and improve business performance by designing , implementing , communicating and administering a wide range of human capital , retirement , investment management , health care , compensation and talent management strategies .", "risk solutions ." ]

[ "years ended december 31 ( millions except percentage data ) the operating income of 2014 is 1648 ; the operating income of 2013 is 1540 ; the operating income of 2012 is 1493 ;" ]

[ [ "years ended december 31 ( millions except percentage data )", "2014", "2013", "2012" ], [ "revenue", "$ 7834", "$ 7789", "$ 7632" ], [ "operating income", "1648", "1540", "1493" ], [ "operating margin", "21.0% ( 21.0 % )", "19.8% ( 19.8 % )", "19.6% ( 19.6 % )" ] ]

[ "the retail electric price variance is primarily due to an increase in base rates , as approved by the apsc .", "the new base rates were effective february 24 , 2016 and began billing with the first billing cycle of april 2016 .", "the increase includes an interim base rate adjustment surcharge , effective with the first billing cycle of april 2016 , to recover the incremental revenue requirement for the period february 24 , 2016 through march 31 , 2016 .", "a significant portion of the increase is related to the purchase of power block 2 of the union power station .", "see note 2 to the financial statements for further discussion of the rate case .", "see note 14 to the financial statements for further discussion of the union power station purchase. ." ]

[ "entergy arkansas , inc .", "and subsidiaries management 2019s financial discussion and analysis results of operations net income 2016 compared to 2015 net income increased $ 92.9 million primarily due to higher net revenue and lower other operation and maintenance expenses , partially offset by a higher effective income tax rate and higher depreciation and amortization expenses .", "2015 compared to 2014 net income decreased $ 47.1 million primarily due to higher other operation and maintenance expenses , partially offset by higher net revenue .", "net revenue 2016 compared to 2015 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges ( credits ) .", "following is an analysis of the change in net revenue comparing 2016 to 2015 .", "amount ( in millions ) ." ]

[ "the 2015 net revenue of amount ( in millions ) is $ 1362.2 ;", "the 2016 net revenue of amount ( in millions ) is $ 1520.5 ;" ]

[ [ "", "amount ( in millions )" ], [ "2015 net revenue", "$ 1362.2" ], [ "retail electric price", "161.5" ], [ "other", "-3.2 ( 3.2 )" ], [ "2016 net revenue", "$ 1520.5" ] ]

[ "treasury stock 2013 we account for repurchases of common stock under the cost method and present treasury stock as a reduction of shareholders equity .", "we may reissue common stock held in treasury only for limited purposes .", "accounting pronouncements 2013 in june 2006 , the fasb issued interpretation no .", "48 , 201caccounting for uncertainty in income taxes , an interpretation of fas 109 , accounting for income taxes 201d ( fin 48 ) , to create a single model to address accounting for uncertainty in tax positions .", "see our income tax disclosures in note 11 for more information regarding the adoption of fin 48 .", "in september 2006 , the fasb issued sfas no .", "158 , 201cemployers 2019 accounting for defined benefit pension and other postretirement plans 2013 an amendment of fasb statements no .", "87 , 88 , 106 and 132 ( r ) . 201d this statement requires recognition of the funded status of a benefit plan in the statement of financial position .", "sfas no .", "158 also requires recognition in other comprehensive income of certain gains and losses that arise during the period but are deferred under pension accounting rules , as well as modifies the timing of reporting and adds certain disclosures .", "the statement provides recognition and disclosure elements to be effective as of the end of the fiscal year after december 15 , 2006 and measurement elements to be effective for fiscal years ending after december 15 , 2008 .", "we adopted sfas no .", "158 on december 31 , 2006 .", "see our pension and other postretirement disclosures in note 10 .", "in december 2004 , the fasb issued sfas no .", "123 ( r ) , 201cshare-based payment 201d , which is a revision to sfas no .", "123 .", "sfas 123 ( r ) requires all share-based payments to employees , including stock options , to be expensed based on their fair values .", "we adopted sfas 123 ( r ) on january 1 , 2006 using the modified prospective method and did not restate prior periods .", "in september 2006 , the fasb issued sfas no .", "157 , 201cfair value measurements 201d , which defines fair value , establishes a framework for measuring fair value in generally accepted accounting principles and expands disclosures about fair value measurements .", "this statement does not require any new fair value measurements , but provides guidance on how to measure fair value by providing a fair value hierarchy used to classify the source of the information .", "sfas no .", "157 is effective for financial statements issued for fiscal years beginning after november 15 , 2007 and interim periods within those fiscal years .", "in february 2008 , the fasb issued fasb staff position ( fsp ) no .", "sfas 157-2 , which delays the effective date of certain provisions of sfas no .", "157 relating to non-financial assets and liabilities measured at fair value on a non-recurring basis until fiscal years beginning after november 15 , 2008 .", "the adoption of sfas no .", "157 is not expected to have a material impact on our consolidated financial statements or results of operations .", "in february 2007 , the fasb issued sfas no .", "159 , 201cthe fair value option for financial assets and financial liabilities 2013 including an amendment of fasb statement no .", "115 201d ( sfas no .", "159 ) .", "sfas no .", "159 creates a 201cfair value option 201d under which an entity may elect to record certain financial assets or liabilities at fair value upon their initial recognition .", "subsequent changes in fair value would be recognized in earnings as those changes occur .", "the election of the fair value option would be made on a contract-by-contract basis and would need to be supported by concurrent documentation or a preexisting documented policy .", "sfas no .", "159 requires an entity to separately disclose the fair z i m m e r h o l d i n g s , i n c .", "2 0 0 7 f o r m 1 0 - k a n n u a l r e p o r t notes to consolidated financial statements ( continued ) ." ]

[ "which , $ 44.9 million , or $ 38.2 million , net of taxes , is expected to be reclassified to earnings over the next twelve months .", "we also enter into foreign currency forward exchange contracts with terms of one month to manage currency exposures for assets and liabilities denominated in a currency other than an entity 2019s functional currency .", "as a result , any foreign currency translation gains/losses recognized in earnings under sfas no .", "52 , 201cforeign currency translation 201d are generally offset with gains/losses on the foreign currency forward exchange contracts in the same reporting period .", "other comprehensive income 2013 other comprehensive income refers to revenues , expenses , gains and losses that under generally accepted accounting principles are included in comprehensive income but are excluded from net earnings as these amounts are recorded directly as an adjustment to stockholders 2019 equity .", "other comprehensive income is comprised of foreign currency translation adjustments , unrealized foreign currency hedge gains and losses , unrealized gains and losses on available-for-sale securities and amortization of prior service costs and unrecognized gains and losses in actuarial assumptions .", "the components of accumulated other comprehensive income are as follows ( in millions ) : balance at december 31 , comprehensive income ( loss ) balance at december 31 ." ]

[ "the accumulated other comprehensive income of balance at december 31 2006 is $ 209.2 ; the accumulated other comprehensive income of other comprehensive income ( loss ) is $ 81.1 ; the accumulated other comprehensive income of balance at december 31 2007 is $ 290.3 ;" ]

[ [ "", "balance at december 31 2006", "other comprehensive income ( loss )", "balance at december 31 2007" ], [ "foreign currency translation", "$ 267.7", "$ 101.1", "$ 368.8" ], [ "foreign currency hedges", "-22.6 ( 22.6 )", "-22.8 ( 22.8 )", "-45.4 ( 45.4 )" ], [ "unrealized gains ( losses ) on securities", "-0.5 ( 0.5 )", "-1.4 ( 1.4 )", "-1.9 ( 1.9 )" ], [ "unrecognized prior service cost and unrecognized ( gain ) / loss in actuarial assumptions", "-35.4 ( 35.4 )", "4.2", "-31.2 ( 31.2 )" ], [ "accumulated other comprehensive income", "$ 209.2", "$ 81.1", "$ 290.3" ] ]

[ "defined contribution plans we maintain a number of defined contribution plans , most with 401 ( k ) features , that cover substantially all of our employees .", "under the provisions of our 401 ( k ) plans , we match most employees 2019 eligible contributions at rates specified in the plan documents .", "our contributions were $ 617 million in 2016 , $ 393 million in 2015 and $ 385 million in 2014 , the majority of which were funded in our common stock .", "our defined contribution plans held approximately 36.9 million and 40.0 million shares of our common stock as of december 31 , 2016 and 2015 .", "note 12 2013 stockholders 2019 equity at december 31 , 2016 and 2015 , our authorized capital was composed of 1.5 billion shares of common stock and 50 million shares of series preferred stock .", "of the 290 million shares of common stock issued and outstanding as of december 31 , 2016 , 289 million shares were considered outstanding for consolidated balance sheet presentation purposes ; the remaining shares were held in a separate trust .", "of the 305 million shares of common stock issued and outstanding as of december 31 , 2015 , 303 million shares were considered outstanding for consolidated balance sheet presentation purposes ; the remaining shares were held in a separate trust .", "no shares of preferred stock were issued and outstanding at december 31 , 2016 or 2015 .", "repurchases of common stock during 2016 , we repurchased 8.9 million shares of our common stock for $ 2.1 billion .", "during 2015 and 2014 , we paid $ 3.1 billion and $ 1.9 billion to repurchase 15.2 million and 11.5 million shares of our common stock .", "on september 22 , 2016 , our board of directors approved a $ 2.0 billion increase to our share repurchase program .", "inclusive of this increase , the total remaining authorization for future common share repurchases under our program was $ 3.5 billion as of december 31 , 2016 .", "as we repurchase our common shares , we reduce common stock for the $ 1 of par value of the shares repurchased , with the excess purchase price over par value recorded as a reduction of additional paid-in capital .", "due to the volume of repurchases made under our share repurchase program , additional paid-in capital was reduced to zero , with the remainder of the excess purchase price over par value of $ 1.7 billion and $ 2.4 billion recorded as a reduction of retained earnings in 2016 and 2015 .", "we paid dividends totaling $ 2.0 billion ( $ 6.77 per share ) in 2016 , $ 1.9 billion ( $ 6.15 per share ) in 2015 and $ 1.8 billion ( $ 5.49 per share ) in 2014 .", "we have increased our quarterly dividend rate in each of the last three years , including a 10% ( 10 % ) increase in the quarterly dividend rate in the fourth quarter of 2016 .", "we declared quarterly dividends of $ 1.65 per share during each of the first three quarters of 2016 and $ 1.82 per share during the fourth quarter of 2016 ; $ 1.50 per share during each of the first three quarters of 2015 and $ 1.65 per share during the fourth quarter of 2015 ; and $ 1.33 per share during each of the first three quarters of 2014 and $ 1.50 per share during the fourth quarter of 2014. ." ]

[ "contributions and expected benefit payments the funding of our qualified defined benefit pension plans is determined in accordance with erisa , as amended by the ppa , and in a manner consistent with cas and internal revenue code rules .", "there were no contributions to our legacy qualified defined benefit pension plans during 2016 .", "we do not plan to make contributions to our legacy pension plans in 2017 because none are required using current assumptions including investment returns on plan assets .", "we made $ 23 million in contributions during 2016 to our newly established sikorsky pension plan and expect to make $ 45 million in contributions to this plan during 2017 .", "the following table presents estimated future benefit payments , which reflect expected future employee service , as of december 31 , 2016 ( in millions ) : ." ]

[ "we paid dividends totaling $ 2.0 billion ( $ 6.77 per share ) in 2016 , $ 1.9 billion ( $ 6.15 per share ) in 2015 and $ 1.8 billion ( $ 5.49 per share ) in 2014 ." ]

[ [ "", "2017", "2018", "2019", "2020", "2021", "2022 2013 2026" ], [ "qualified defined benefit pension plans", "$ 2260", "$ 2340", "$ 2420", "$ 2510", "$ 2590", "$ 13920" ], [ "retiree medical and life insurance plans", "180", "180", "190", "190", "190", "870" ] ]

[ "( 1 ) reclassified to conform to the current period 2019s presentation .", "( 2 ) 2009 primarily includes reductions to the loan loss reserve of approximately $ 543 million related to securitizations , approximately $ 402 million related to the sale or transfers to held-for-sale of u.s .", "real estate lending loans , and $ 562 million related to the transfer of the u.k .", "cards portfolio to held-for-sale .", "2008 primarily includes reductions to the loan loss reserve of approximately $ 800 million related to fx translation , $ 102 million related to securitizations , $ 244 million for the sale of the german retail banking operation , $ 156 million for the sale of citicapital , partially offset by additions of $ 106 million related to the cuscatl e1n and bank of overseas chinese acquisitions .", "2007 primarily includes reductions to the loan loss reserve of $ 475 million related to securitizations and transfers to loans held-for-sale , and reductions of $ 83 million related to the transfer of the u.k .", "citifinancial portfolio to held-for-sale , offset by additions of $ 610 million related to the acquisitions of egg , nikko cordial , grupo cuscatl e1n and grupo financiero uno .", "( 3 ) represents additional credit loss reserves for unfunded corporate lending commitments and letters of credit recorded in other liabilities on the consolidated balance sheet. ." ]

[ "18 .", "allowance for credit losses ." ]

[ "in millions of dollars the allowance for loan losses at beginning of year of 2009 is $ 29616 ; the allowance for loan losses at beginning of year of 2008 ( 1 ) is $ 16117 ; the allowance for loan losses at beginning of year of 2007 ( 1 ) is $ 8940 ;" ]

[ [ "in millions of dollars", "2009", "2008 ( 1 )", "2007 ( 1 )" ], [ "allowance for loan losses at beginning of year", "$ 29616", "$ 16117", "$ 8940" ], [ "gross credit losses", "-32784 ( 32784 )", "-20760 ( 20760 )", "-11864 ( 11864 )" ], [ "gross recoveries", "2043", "1749", "1938" ], [ "net credit ( losses ) recoveries ( ncls )", "$ -30741 ( 30741 )", "$ -19011 ( 19011 )", "$ -9926 ( 9926 )" ], [ "ncls", "$ 30741", "$ 19011", "$ 9926" ], [ "net reserve builds ( releases )", "5741", "11297", "6550" ], [ "net specific reserve builds ( releases )", "2278", "3366", "356" ], [ "total provision for credit losses", "$ 38760", "$ 33674", "$ 16832" ], [ "other net ( 2 )", "-1602 ( 1602 )", "-1164 ( 1164 )", "271" ], [ "allowance for loan losses at end of year", "$ 36033", "$ 29616", "$ 16117" ], [ "allowance for credit losses on unfunded lending commitments at beginning of year ( 3 )", "$ 887", "$ 1250", "$ 1100" ], [ "provision for unfunded lending commitments", "244", "-363 ( 363 )", "150" ], [ "allowance for credit losses on unfunded lending commitments at end of year ( 3 )", "$ 1157", "$ 887", "$ 1250" ], [ "total allowance for loans leases and unfunded lending commitments", "$ 37190", "$ 30503", "$ 17367" ] ]

[ "liquidity outlook we expect our cash flow from operations , cash and cash equivalents to be sufficient to meet our anticipated operating requirements at a minimum for the next twelve months .", "we also have a committed corporate credit facility as well as uncommitted facilities available to support our operating needs .", "we continue to maintain a disciplined approach to managing liquidity , with flexibility over significant uses of cash , including our capital expenditures , cash used for new acquisitions , our common stock repurchase program and our common stock dividends .", "from time to time , we evaluate market conditions and financing alternatives for opportunities to raise additional funds or otherwise improve our liquidity profile , enhance our financial flexibility and manage market risk .", "our ability to access the capital markets depends on a number of factors , which include those specific to us , such as our credit rating , and those related to the financial markets , such as the amount or terms of available credit .", "there can be no guarantee that we would be able to access new sources of liquidity on commercially reasonable terms , or at all. ." ]

[ "management 2019s discussion and analysis of financial condition and results of operations 2013 ( continued ) ( amounts in millions , except per share amounts ) net cash used in investing activities during 2013 primarily related to payments for capital expenditures and acquisitions .", "capital expenditures of $ 173.0 related primarily to computer hardware and software and leasehold improvements .", "we made payments of $ 61.5 related to acquisitions completed during 2013 , net of cash acquired .", "financing activities net cash used in financing activities during 2014 primarily related to the purchase of long-term debt , the repurchase of our common stock and payment of dividends .", "during 2014 , we redeemed all $ 350.0 in aggregate principal amount of the 6.25% ( 6.25 % ) notes , repurchased 14.9 shares of our common stock for an aggregate cost of $ 275.1 , including fees , and made dividend payments of $ 159.0 on our common stock .", "this was offset by the issuance of $ 500.0 in aggregate principal amount of our 4.20% ( 4.20 % ) notes .", "net cash used in financing activities during 2013 primarily related to the purchase of long-term debt , the repurchase of our common stock and payment of dividends .", "we redeemed all $ 600.0 in aggregate principal amount of our 10.00% ( 10.00 % ) notes .", "in addition , we repurchased 31.8 shares of our common stock for an aggregate cost of $ 481.8 , including fees , and made dividend payments of $ 126.0 on our common stock .", "foreign exchange rate changes the effect of foreign exchange rate changes on cash and cash equivalents included in the consolidated statements of cash flows resulted in a decrease of $ 101.0 in 2014 .", "the decrease was primarily a result of the u.s .", "dollar being stronger than several foreign currencies , including the canadian dollar , brazilian real , australian dollar and the euro as of december 31 , 2014 compared to december 31 , 2013 .", "the effect of foreign exchange rate changes on cash and cash equivalents included in the consolidated statements of cash flows resulted in a decrease of $ 94.1 in 2013 .", "the decrease was primarily a result of the u.s .", "dollar being stronger than several foreign currencies , including the australian dollar , brazilian real , canadian dollar , japanese yen , and south african rand as of december 31 , 2013 compared to december 31 , 2012. ." ]

[ "balance sheet data the short-term borrowings of december 31 , 2014 is $ 107.2 ; the short-term borrowings of december 31 , 2013 is $ 179.1 ;", "dollar being stronger than several foreign currencies , including the australian dollar , brazilian real , canadian dollar , japanese yen , and south african rand as of december 31 , 2013 compared to december 31 , 2012. ." ]

[ [ "balance sheet data", "december 31 , 2014", "december 31 , 2013" ], [ "cash cash equivalents and marketable securities", "$ 1667.2", "$ 1642.1" ], [ "short-term borrowings", "$ 107.2", "$ 179.1" ], [ "current portion of long-term debt", "2.1", "353.6" ], [ "long-term debt", "1623.5", "1129.8" ], [ "total debt", "$ 1732.8", "$ 1662.5" ] ]

[ "2013 annual report 23 ." ]

[ "other purchases or sales of equity securities the following chart discloses information regarding shares of snap-on 2019s common stock that were sold by citibank , n.a .", "( 201ccitibank 201d ) during the fourth quarter of 2013 pursuant to a prepaid equity forward transaction agreement ( the 201cagreement 201d ) with citibank that is intended to reduce the impact of market risk associated with the stock-based portion of the company 2019s deferred compensation plans .", "the company 2019s stock-based deferred compensation liabilities , which are impacted by changes in the company 2019s stock price , increase as the company 2019s stock price rises and decrease as the company 2019s stock price declines .", "pursuant to the agreement , citibank may purchase or sell shares of the company 2019s common stock ( for citibank 2019s account ) in the market or in privately negotiated transactions .", "the agreement has no stated expiration date , but the parties expect that each transaction under the agreement will have a term of approximately one year .", "the agreement does not provide for snap-on to purchase or repurchase shares .", "the following chart discloses information regarding citibank 2019s sales of snap-on common stock during the fourth quarter of 2013 pursuant to the agreement : period shares sold average per share ." ]

[ "period the 11/24/13 to 12/28/13 of shares sold is 5000 ; the 11/24/13 to 12/28/13 of averagepriceper share is $ 106.32 ;" ]

[ [ "period", "shares sold", "averagepriceper share" ], [ "09/29/13 to 10/26/13", "2013", "2013" ], [ "10/27/13 to 11/23/13", "2013", "2013" ], [ "11/24/13 to 12/28/13", "5000", "$ 106.32" ], [ "total/average", "5000", "$ 106.32" ] ]

[ "." ]

[ "kimco realty corporation and subsidiaries notes to consolidated financial statements , continued other 2014 in connection with the construction of its development projects and related infrastructure , certain public agencies require posting of performance and surety bonds to guarantee that the company 2019s obligations are satisfied .", "these bonds expire upon the completion of the improvements and infrastructure .", "as of december 31 , 2010 , there were approximately $ 45.3 million in performance and surety bonds outstanding .", "as of december 31 , 2010 , the company had accrued $ 3.8 million in connection with a legal claim related to a previously sold ground-up development project .", "the company is currently negotiating with the plaintiff to settle this claim and believes that the prob- able settlement amount will approximate the amount accrued .", "the company is subject to various other legal proceedings and claims that arise in the ordinary course of business .", "management believes that the final outcome of such matters will not have a material adverse effect on the financial position , results of operations or liquidity of the company .", "23 .", "incentive plans : the company maintains two equity participation plans , the second amended and restated 1998 equity participation plan ( the 201cprior plan 201d ) and the 2010 equity participation plan ( the 201c2010 plan 201d ) ( collectively , the 201cplans 201d ) .", "the prior plan provides for a maxi- mum of 47000000 shares of the company 2019s common stock to be issued for qualified and non-qualified options and restricted stock grants .", "the 2010 plan provides for a maximum of 5000000 shares of the company 2019s common stock to be issued for qualified and non-qualified options , restricted stock , performance awards and other awards , plus the number of shares of common stock which are or become available for issuance under the prior plan and which are not thereafter issued under the prior plan , subject to certain conditions .", "unless otherwise determined by the board of directors at its sole discretion , options granted under the plans generally vest ratably over a range of three to five years , expire ten years from the date of grant and are exercisable at the market price on the date of grant .", "restricted stock grants generally vest ( i ) 100% ( 100 % ) on the fourth or fifth anniversary of the grant , ( ii ) ratably over three or four years or ( iii ) over three years at 50% ( 50 % ) after two years and 50% ( 50 % ) after the third year .", "performance share awards may provide a right to receive shares of restricted stock based on the company 2019s performance relative to its peers , as defined , or based on other performance criteria as determined by the board of directors .", "in addition , the plans provide for the granting of certain options and restricted stock to each of the company 2019s non-employee directors ( the 201cindependent directors 201d ) and permits such independent directors to elect to receive deferred stock awards in lieu of directors 2019 fees .", "the company accounts for stock options in accordance with fasb 2019s compensation 2014stock compensation guidance which requires that all share based payments to employees , including grants of employee stock options , be recognized in the statement of operations over the service period based on their fair values .", "the fair value of each option award is estimated on the date of grant using the black-scholes option pricing formula .", "the assump- tion for expected volatility has a significant affect on the grant date fair value .", "volatility is determined based on the historical equity of common stock for the most recent historical period equal to the expected term of the options plus an implied volatility measure .", "the more significant assumptions underlying the determination of fair values for options granted during 2010 , 2009 and 2008 were as follows : year ended december 31 , 2010 2009 2008 ." ]

[ "2009 the weighted average fair value of options granted of year ended december 31 2010 2009 is $ 3.82 ; the weighted average fair value of options granted of year ended december 31 2010 2009 is $ 3.16 ; the weighted average fair value of options granted of year ended december 31 2010 is $ 5.73 ;" ]

[ [ "2009", "year ended december 31 2010 2009", "year ended december 31 2010 2009", "year ended december 31 2010" ], [ "weighted average fair value of options granted", "$ 3.82", "$ 3.16", "$ 5.73" ], [ "weighted average risk-free interest rates", "2.40% ( 2.40 % )", "2.54% ( 2.54 % )", "3.13% ( 3.13 % )" ], [ "weighted average expected option lives ( in years )", "6.25", "6.25", "6.38" ], [ "weighted average expected volatility", "37.98% ( 37.98 % )", "45.81% ( 45.81 % )", "26.16% ( 26.16 % )" ], [ "weighted average expected dividend yield", "4.21% ( 4.21 % )", "5.48% ( 5.48 % )", "4.33% ( 4.33 % )" ] ]

[ "total debt at december 31 , 2007 , was $ 4.920 billion , up from $ 3.553 billion at year-end 2006 .", "the net change in short-term debt is primarily due to commercial paper activity .", "in 2007 , the repayment of debt for maturities greater than 90 days is primarily comprised of commercial paper repayments of approximately $ 1.15 billion and the november 2007 redemption of approximately $ 322 million in convertible notes .", "in 2007 , proceeds from debt included long-term debt and commercial paper issuances totaling approximately $ 4 billion .", "this was comprised of eurobond issuances in december 2007 and july 2007 totaling approximately $ 1.5 billion in u.s .", "dollars , a march 2007 long-term debt issuance of $ 750 million and a december 2007 fixed rate note issuance of $ 500 million , plus commercial paper issuances ( maturities greater than 90 days ) of approximately $ 1.25 billion .", "increases in long-term debt have been used , in part , to fund share repurchase activities .", "the company accelerated purchases of treasury stock when compared to prior years , buying back $ 3.2 billion in shares in 2007 .", "total debt was 30% ( 30 % ) of total capital ( total capital is defined as debt plus equity ) , compared with 26% ( 26 % ) at year-end 2006 .", "debt securities , including 2007 debt issuances , the company 2019s shelf registration , dealer remarketable securities and convertible notes , are all discussed in more detail in note 10 .", "the company has a \"well-known seasoned issuer\" shelf registration statement , effective february 24 , 2006 , to register an indeterminate amount of debt or equity securities for future sales .", "on june 15 , 2007 , the company registered 150718 shares of the company's common stock under this shelf on behalf of and for the sole benefit of the selling stockholders in connection with the company's acquisition of assets of diamond productions , inc .", "the company intends to use the proceeds from future securities sales off this shelf for general corporate purposes .", "in connection with this shelf registration , in june 2007 the company established a medium-term notes program through which up to $ 3 billion of medium-term notes may be offered .", "in december 2007 , 3m issued a five-year , $ 500 million , fixed rate note with a coupon rate of 4.65% ( 4.65 % ) under this medium-term notes program .", "this program has a remaining capacity of $ 2.5 billion as of december 31 , 2007 .", "the company 2019s $ 350 million of dealer remarketable securities ( classified as current portion of long-term debt ) were remarketed for one year in december 2007 .", "at december 31 , 2007 , $ 350 million of dealer remarketable securities ( final maturity 2010 ) and $ 62 million of floating rate notes ( final maturity 2044 ) are classified as current portion of long- term debt as the result of put provisions associated with these debt instruments .", "the company has convertible notes with a book value of $ 222 million at december 31 , 2007 .", "the next put option date for these convertible notes is november 2012 .", "in november 2007 , 364598 outstanding bonds were redeemed resulting in a payout from 3m of approximately $ 322 million .", "repurchases of common stock are made to support the company 2019s stock-based employee compensation plans and for other corporate purposes .", "in february 2007 , 3m 2019s board of directors authorized a two-year share repurchase of up to $ 7.0 billion for the period from february 12 , 2007 to february 28 , 2009 .", "as of december 31 , 2007 , approximately $ 4.1 billion remained available for repurchase .", "refer to the table titled 201cissuer purchases of equity securities 201d in part ii , item 5 , for more information. ." ]

[ "approximately $ 55 million , which is reported as 201cinvestments 201d in the consolidated balance sheet and as 201cpurchases of marketable securities and investments 201d in the consolidated statement of cash flows .", "the recovery of approximately $ 25 million of this investment in 2007 reduced 201cinvestments 201d and is shown in cash flows within 201cproceeds from sale of marketable securities and investments . 201d this investment is discussed in more detail under the preceding section entitled industrial and transportation business .", "additional purchases of investments include additional survivor benefit insurance and equity investments .", "cash flows from financing activities : years ended december 31 ." ]

[ "increases in long-term debt have been used , in part , to fund share repurchase activities .", "( millions ) the net cash used in financing activities of 2007 is $ -2547 ( 2547 ) ; the net cash used in financing activities of 2006 is $ -2061 ( 2061 ) ; the net cash used in financing activities of 2005 is $ -3625 ( 3625 ) ;" ]

[ [ "( millions )", "2007", "2006", "2005" ], [ "change in short-term debt 2014 net", "$ -1222 ( 1222 )", "$ 882", "$ -258 ( 258 )" ], [ "repayment of debt ( maturities greater than 90 days )", "-1580 ( 1580 )", "-440 ( 440 )", "-656 ( 656 )" ], [ "proceeds from debt ( maturities greater than 90 days )", "4024", "693", "429" ], [ "total cash change in debt", "$ 1222", "$ 1135", "$ -485 ( 485 )" ], [ "purchases of treasury stock", "-3239 ( 3239 )", "-2351 ( 2351 )", "-2377 ( 2377 )" ], [ "reissuances of treasury stock", "796", "523", "545" ], [ "dividends paid to stockholders", "-1380 ( 1380 )", "-1376 ( 1376 )", "-1286 ( 1286 )" ], [ "excess tax benefits from stock-based compensation", "74", "60", "54" ], [ "distributions to minority interests and other 2014 net", "-20 ( 20 )", "-52 ( 52 )", "-76 ( 76 )" ], [ "net cash used in financing activities", "$ -2547 ( 2547 )", "$ -2061 ( 2061 )", "$ -3625 ( 3625 )" ] ]

[ "( a ) number of subscribers corresponds to the collective sum of the total number of subscribers to each of the sbs nordic broadcast networks in sweden , norway , and denmark subject to retransmission agreements with pay television providers .", "( b ) number of subscribers corresponds to dmax pay television networks in the u.k. , austria , switzerland and ireland .", "our international networks segment also owns and operates free-to-air television networks which reached 285 million cumulative viewers in europe and the middle east as of december 31 , 2013 .", "our free-to-air networks include dmax , fatafeat , quest , real time , giallo , frisbee , focus and k2 .", "similar to u.s .", "networks , the primary sources of revenue for international networks are fees charged to operators who distribute our networks , which primarily include cable and dth satellite service providers , and advertising sold on our television networks .", "international television markets vary in their stages of development .", "some markets , such as the u.k. , are more advanced digital television markets , while others remain in the analog environment with varying degrees of investment from operators to expand channel capacity or convert to digital technologies .", "common practice in some markets results in long-term contractual distribution relationships , while customers in other markets renew contracts annually .", "distribution revenue for our international networks segment is largely dependent on the number of subscribers that receive our networks or content , the rates negotiated in the agreements , and the market demand for the content that we provide .", "advertising revenue is dependent upon a number of factors including the development of pay and free-to-air television markets , the number of subscribers to and viewers of our channels , viewership demographics , the popularity of our programming , and our ability to sell commercial time over a group of channels .", "in certain markets , our advertising sales business operates with in-house sales teams , while we rely on external sales representation services in other markets .", "in developing television markets , we expect that advertising revenue growth will result from continued subscriber and viewership growth , our localization strategy , and the shift of advertising spending from traditional analog networks to channels in the multi-channel environment .", "in relatively mature markets , such as western europe , growth in advertising revenue will come from increasing viewership and pricing of advertising on our existing television networks and the launching of new services , both organic and through acquisitions .", "during 2013 , distribution , advertising and other revenues were 50% ( 50 % ) , 47% ( 47 % ) and 3% ( 3 % ) , respectively , of total net revenues for this segment .", "on january 21 , 2014 , we entered into an agreement with tf1 to acquire a controlling interest in eurosport international ( \"eurosport\" ) , a leading pan-european sports media platform , by increasing our ownership stake from 20% ( 20 % ) to 51% ( 51 % ) for cash of approximately 20ac253 million ( $ 343 million ) subject to working capital adjustments .", "due to regulatory constraints the acquisition initially excludes eurosport france , a subsidiary of eurosport .", "we will retain a 20% ( 20 % ) equity interest in eurosport france and a commitment to acquire another 31% ( 31 % ) ownership interest beginning 2015 , contingent upon resolution of all regulatory matters .", "the flagship eurosport network focuses on regionally popular sports such as tennis , skiing , cycling and motor sports and reaches 133 million homes across 54 countries in 20 languages .", "eurosport 2019s brands and platforms also include eurosport hd ( high definition simulcast ) , eurosport 2 , eurosport 2 hd ( high definition simulcast ) , eurosport asia-pacific , and eurosportnews .", "the acquisition is intended to increase the growth of eurosport and enhance our pay television offerings in europe .", "tf1 will have the right to put the entirety of its remaining 49% ( 49 % ) non-controlling interest to us for approximately two and a half years after completion of this acquisition .", "the put has a floor value equal to the fair value at the acquisition date if exercised in the 90 day period beginning on july 1 , 2015 and is subsequently priced at fair value if exercised in the 90 day period beginning on july 1 , 2016 .", "we expect the acquisition to close in the second quarter of 2014 subject to obtaining necessary regulatory approvals. ." ]

[ "our international networks segment owns and operates the following television networks , which reached the following number of subscribers via pay television services as of december 31 , 2013 : global networks international subscribers ( millions ) regional networks international subscribers ( millions ) ." ]

[ "in relatively mature markets , such as western europe , growth in advertising revenue will come from increasing viewership and pricing of advertising on our existing television networks and the launching of new services , both organic and through acquisitions .", "on january 21 , 2014 , we entered into an agreement with tf1 to acquire a controlling interest in eurosport international ( \"eurosport\" ) , a leading pan-european sports media platform , by increasing our ownership stake from 20% ( 20 % ) to 51% ( 51 % ) for cash of approximately 20ac253 million ( $ 343 million ) subject to working capital adjustments .", "we will retain a 20% ( 20 % ) equity interest in eurosport france and a commitment to acquire another 31% ( 31 % ) ownership interest beginning 2015 , contingent upon resolution of all regulatory matters ." ]

[ [ "global networks discovery channel", "internationalsubscribers ( millions ) 271", "regional networks discovery kids", "internationalsubscribers ( millions ) 76" ], [ "animal planet", "200", "sbs nordic ( a )", "28" ], [ "tlc real time and travel & living", "162", "dmax ( b )", "16" ], [ "discovery science", "81", "discovery history", "14" ], [ "investigation discovery", "74", "shed", "12" ], [ "discovery home & health", "64", "discovery en espanol ( u.s. )", "5" ], [ "turbo", "52", "discovery familia ( u.s. )", "4" ], [ "discovery world", "23", "gxt", "4" ] ]

[ "statutory capital and surplus for the u.s .", "life insurance subsidiaries , including domestic captive insurance subsidiaries , decreased by $ 978 , primarily due to variable annuity surplus impacts of approximately $ 425 , a $ 200 increase in reserves on a change in valuation basis , $ 200 transfer of the mutual funds business from the u.s .", "life insurance companies to the life holding company , and an increase in the asset valuation reserve of $ 115 .", "as a result of the january 2013 statutory gain from the sale of the retirement plans and individual life businesses , the company's pro forma january 2 , 2013 u.s .", "life statutory surplus was estimated to be $ 8.1 billion , before approximately $ 1.5 billion in extraordinary dividends and return of capital to hfsg holding company .", "statutory capital and surplus for the property and casualty insurance subsidiaries increased by $ 233 , primarily due to statutory net income , after tax , of $ 727 , unrealized gains of $ 249 , and an increase in statutory admitted deferred tax assets of $ 77 , capital contributions of $ 14 , and an increase of statutory admitted assets of $ 7 , partially offset by dividends to the hfsg holding company of $ 841 .", "both net income and dividends are net of interest payments and dividends , respectively , on an intercompany note between hartford holdings , inc .", "and hartford fire insurance company .", "the company also holds regulatory capital and surplus for its operations in japan .", "under the accounting practices and procedures governed by japanese regulatory authorities , the company 2019s statutory capital and surplus was $ 1.1 billion and $ 1.3 billion as of december 31 , 2012 and 2011 , respectively .", "statutory capital the company 2019s stockholders 2019 equity , as prepared using u.s .", "generally accepted accounting principles ( 201cu.s .", "gaap 201d ) was $ 22.4 billion as of december 31 , 2012 .", "the company 2019s estimated aggregate statutory capital and surplus , as prepared in accordance with the national association of insurance commissioners 2019 accounting practices and procedures manual ( 201cu.s .", "stat 201d ) was $ 14.1 billion as of december 31 , 2012 .", "significant differences between u.s .", "gaap stockholders 2019 equity and aggregate statutory capital and surplus prepared in accordance with u.s .", "stat include the following : 2022 u.s .", "stat excludes equity of non-insurance and foreign insurance subsidiaries not held by u.s .", "insurance subsidiaries .", "2022 costs incurred by the company to acquire insurance policies are deferred under u.s .", "gaap while those costs are expensed immediately under u.s .", "2022 temporary differences between the book and tax basis of an asset or liability which are recorded as deferred tax assets are evaluated for recoverability under u.s .", "gaap while those amounts deferred are subject to limitations under u.s .", "stat .", "2022 the assumptions used in the determination of life benefit reserves is prescribed under u.s .", "stat , while the assumptions used under u.s .", "gaap are generally the company 2019s best estimates .", "the methodologies for determining life insurance reserve amounts may also be different .", "for example , reserving for living benefit reserves under u.s .", "stat is generally addressed by the commissioners 2019 annuity reserving valuation methodology and the related actuarial guidelines , while under u.s .", "gaap , those same living benefits may be considered embedded derivatives and recorded at fair value or they may be considered sop 03-1 reserves .", "the sensitivity of these life insurance reserves to changes in equity markets , as applicable , will be different between u.s .", "gaap and u.s .", "stat .", "2022 the difference between the amortized cost and fair value of fixed maturity and other investments , net of tax , is recorded as an increase or decrease to the carrying value of the related asset and to equity under u.s .", "gaap , while u.s .", "stat only records certain securities at fair value , such as equity securities and certain lower rated bonds required by the naic to be recorded at the lower of amortized cost or fair value .", "2022 u.s .", "stat for life insurance companies establishes a formula reserve for realized and unrealized losses due to default and equity risks associated with certain invested assets ( the asset valuation reserve ) , while u.s .", "gaap does not .", "also , for those realized gains and losses caused by changes in interest rates , u.s .", "stat for life insurance companies defers and amortizes the gains and losses , caused by changes in interest rates , into income over the original life to maturity of the asset sold ( the interest maintenance reserve ) while u.s .", "gaap does not .", "2022 goodwill arising from the acquisition of a business is tested for recoverability on an annual basis ( or more frequently , as necessary ) for u.s .", "gaap , while under u.s .", "stat goodwill is amortized over a period not to exceed 10 years and the amount of goodwill is limited. ." ]

[ "table of contents statutory surplus the table below sets forth statutory surplus for the company 2019s insurance companies as of december 31 , 2012 and 2011: ." ]

[ "the property and casualty insurance subsidiaries of 2012 is 7645 ; the property and casualty insurance subsidiaries of 2011 is 7412 ;", "statutory capital and surplus for the property and casualty insurance subsidiaries increased by $ 233 , primarily due to statutory net income , after tax , of $ 727 , unrealized gains of $ 249 , and an increase in statutory admitted deferred tax assets of $ 77 , capital contributions of $ 14 , and an increase of statutory admitted assets of $ 7 , partially offset by dividends to the hfsg holding company of $ 841 ." ]

[ [ "", "2012", "2011" ], [ "u.s . life insurance subsidiaries includes domestic captive insurance subsidiaries", "$ 6410", "$ 7388" ], [ "property and casualty insurance subsidiaries", "7645", "7412" ], [ "total", "$ 14055", "$ 14800" ] ]

[ "." ]

[ "on november 18 , 2014 , the company entered into a collateralized reinsurance agreement with kilimanjaro to provide the company with catastrophe reinsurance coverage .", "this agreement is a multi-year reinsurance contract which covers specified earthquake events .", "the agreement provides up to $ 500000 thousand of reinsurance coverage from earthquakes in the united states , puerto rico and canada .", "on december 1 , 2015 the company entered into two collateralized reinsurance agreements with kilimanjaro re to provide the company with catastrophe reinsurance coverage .", "these agreements are multi-year reinsurance contracts which cover named storm and earthquake events .", "the first agreement provides up to $ 300000 thousand of reinsurance coverage from named storms and earthquakes in the united states , puerto rico and canada .", "the second agreement provides up to $ 325000 thousand of reinsurance coverage from named storms and earthquakes in the united states , puerto rico and canada .", "on april 13 , 2017 the company entered into six collateralized reinsurance agreements with kilimanjaro to provide the company with annual aggregate catastrophe reinsurance coverage .", "the initial three agreements are four year reinsurance contracts which cover named storm and earthquake events .", "these agreements provide up to $ 225000 thousand , $ 400000 thousand and $ 325000 thousand , respectively , of annual aggregate reinsurance coverage from named storms and earthquakes in the united states , puerto rico and canada .", "the subsequent three agreements are five year reinsurance contracts which cover named storm and earthquake events .", "these agreements provide up to $ 50000 thousand , $ 75000 thousand and $ 175000 thousand , respectively , of annual aggregate reinsurance coverage from named storms and earthquakes in the united states , puerto rico and canada .", "recoveries under these collateralized reinsurance agreements with kilimanjaro are primarily dependent on estimated industry level insured losses from covered events , as well as , the geographic location of the events .", "the estimated industry level of insured losses is obtained from published estimates by an independent recognized authority on insured property losses .", "as of december 31 , 2017 , none of the published insured loss estimates for the 2017 catastrophe events have exceeded the single event retentions under the terms of the agreements that would result in a recovery .", "in addition , the aggregation of the to-date published insured loss estimates for the 2017 covered events have not exceeded the aggregated retentions for recovery .", "however , if the published estimates for insured losses for the covered 2017 events increase , the aggregate losses may exceed the aggregate event retentions under the agreements , resulting in a recovery .", "kilimanjaro has financed the various property catastrophe reinsurance coverages by issuing catastrophe bonds to unrelated , external investors .", "on april 24 , 2014 , kilimanjaro issued $ 450000 thousand of notes ( 201cseries 2014-1 notes 201d ) .", "on november 18 , 2014 , kilimanjaro issued $ 500000 thousand of notes ( 201cseries 2014-2 notes 201d ) .", "on december 1 , 2015 , kilimanjaro issued $ 625000 thousand of notes ( 201cseries 2015-1 notes ) .", "on april 13 , 2017 , kilimanjaro issued $ 950000 thousand of notes ( 201cseries 2017-1 notes ) and $ 300000 thousand of notes ( 201cseries 2017-2 notes ) .", "the proceeds from the issuance of the notes listed above are held in reinsurance trust throughout the duration of the applicable reinsurance agreements and invested solely in us government money market funds with a rating of at least 201caaam 201d by standard & poor 2019s .", "9 .", "operating lease agreements the future minimum rental commitments , exclusive of cost escalation clauses , at december 31 , 2017 , for all of the company 2019s operating leases with remaining non-cancelable terms in excess of one year are as follows : ( dollars in thousands ) ." ]

[ "on april 24 , 2014 , kilimanjaro issued $ 450000 thousand of notes ( 201cseries 2014-1 notes 201d ) .", "on november 18 , 2014 , kilimanjaro issued $ 500000 thousand of notes ( 201cseries 2014-2 notes 201d ) .", "on december 1 , 2015 , kilimanjaro issued $ 625000 thousand of notes ( 201cseries 2015-1 notes ) .", "on april 13 , 2017 , kilimanjaro issued $ 950000 thousand of notes ( 201cseries 2017-1 notes ) and $ 300000 thousand of notes ( 201cseries 2017-2 notes ) ." ]

[ [ "2018", "$ 16990" ], [ "2019", "17964" ], [ "2020", "17115" ], [ "2021", "8035" ], [ "2022", "7669" ], [ "thereafter", "24668" ], [ "net commitments", "$ 92440" ], [ "( some amounts may not reconcile due to rounding. )", "" ] ]

[ "the transportation and construction solutions segment produces products that are used mostly in the nonresidential building and construction and commercial transportation end markets .", "such products include integrated aluminum structural systems , architectural extrusions , and forged aluminum commercial vehicle wheels , which are sold both directly to customers and through distributors .", "a small part of this segment also produces aluminum products for the industrial products end market .", "generally , the sales and costs and expenses of this segment are transacted in the local currency of the respective operations , which are primarily the u.s .", "dollar , the euro , and the brazilian real .", "third-party sales for the transportation and construction solutions segment decreased 4% ( 4 % ) in 2016 compared with 2015 , primarily driven by lower demand from the north american commercial transportation end market , which was partially offset by rising demand from the building and construction end market .", "third-party sales for this segment decreased 7% ( 7 % ) in 2015 compared with 2014 , primarily driven by unfavorable foreign currency movements , principally caused by a weaker euro and brazilian real , and lower volume related to the building and construction end market , somewhat offset by higher volume related to the commercial transportation end market .", "atoi for the transportation and construction solutions segment increased $ 10 , or 6% ( 6 % ) , in 2016 compared with 2015 , principally driven by net productivity improvements across all businesses and growth in the building and construction segment , partially offset by lower demand in the north american heavy duty truck and brazilian markets. ." ]

[ "third-party sales for the engineered products and solutions segment improved 7% ( 7 % ) in 2016 compared with 2015 , primarily attributable to higher third-party sales of the two acquired businesses ( $ 457 ) , primarily related to the aerospace end market , and increased demand from the industrial gas turbine end market , partially offset by lower volumes in the oil and gas end market and commercial transportation end market as well as pricing pressures in aerospace .", "third-party sales for this segment improved 27% ( 27 % ) in 2015 compared with 2014 , largely attributable to the third-party sales ( $ 1310 ) of the three acquired businesses ( see above ) , and higher volumes in this segment 2019s legacy businesses , both of which were primarily related to the aerospace end market .", "these positive impacts were slightly offset by unfavorable foreign currency movements , principally driven by a weaker euro .", "atoi for the engineered products and solutions segment increased $ 47 , or 8% ( 8 % ) , in 2016 compared with 2015 , primarily related to net productivity improvements across all businesses as well as the volume increase from both the rti acquisition and organic revenue growth , partially offset by a lower margin product mix and pricing pressures in the aerospace end market .", "atoi for this segment increased $ 16 , or 3% ( 3 % ) , in 2015 compared with 2014 , principally the result of net productivity improvements across most businesses , a positive contribution from acquisitions , and overall higher volumes in this segment 2019s legacy businesses .", "these positive impacts were partially offset by unfavorable price and product mix , higher costs related to growth projects , and net unfavorable foreign currency movements , primarily related to a weaker euro .", "in 2017 , demand in the commercial aerospace end market is expected to remain strong , driven by the ramp up of new aerospace engine platforms , somewhat offset by continued customer destocking and engine ramp-up challenges .", "demand in the defense end market is expected to grow due to the continuing ramp-up of certain aerospace programs .", "additionally , net productivity improvements are anticipated while pricing pressure across all markets is likely to continue .", "transportation and construction solutions ." ]

[ "the third-party sales of 2016 is $ 1802 ; the third-party sales of 2015 is $ 1882 ; the third-party sales of 2014 is $ 2021 ;", "third-party sales for the engineered products and solutions segment improved 7% ( 7 % ) in 2016 compared with 2015 , primarily attributable to higher third-party sales of the two acquired businesses ( $ 457 ) , primarily related to the aerospace end market , and increased demand from the industrial gas turbine end market , partially offset by lower volumes in the oil and gas end market and commercial transportation end market as well as pricing pressures in aerospace .", "transportation and construction solutions ." ]

[ [ "", "2016", "2015", "2014" ], [ "third-party sales", "$ 1802", "$ 1882", "$ 2021" ], [ "atoi", "$ 176", "$ 166", "$ 180" ] ]

[ "measurement of fair value in inactive markets .", "in april 2009 , the fasb revised the authoritative guidance for fair value measurements and disclosures , which reaffirms that fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date under current market conditions .", "it also reaffirms the need to use judgment in determining if a formerly active market has become inactive and in determining fair values when the market has become inactive .", "there was no impact to the company 2019s financial statements upon adoption .", "fair value disclosures about pension plan assets .", "in december 2008 , the fasb revised the authoritative guidance for employers 2019 disclosures about pension plan assets .", "this new guidance requires additional disclosures about the components of plan assets , investment strategies for plan assets and significant concentrations of risk within plan assets .", "the company , in conjunction with fair value measurement of plan assets , separated plan assets into the three fair value hierarchy levels and provided a roll forward of the changes in fair value of plan assets classified as level 3 in the 2009 annual consolidated financial statements .", "these disclosures had no effect on the company 2019s accounting for plan benefits and obligations .", "revisions to earnings per share calculation .", "in june 2008 , the fasb revised the authoritative guidance for earnings per share for determining whether instruments granted in share-based payment transactions are participating securities .", "this new guidance requires unvested share-based payment awards that contain non- forfeitable rights to dividends be considered as a separate class of common stock and included in the earnings per share calculation using the two-class method .", "the company 2019s restricted share awards meet this definition and are therefore included in the basic earnings per share calculation .", "additional disclosures for derivative instruments .", "in march 2008 , the fasb issued authoritative guidance for derivative instruments and hedging activities , which requires enhanced disclosures on derivative instruments and hedged items .", "on january 1 , 2009 , the company adopted the additional disclosure for the equity index put options .", "no comparative information for periods prior to the effective date was required .", "this guidance had no impact on how the company records its derivatives. ." ]

[ "other-than-temporary impairments on investment securities .", "in april 2009 , the fasb revised the authoritative guidance for the recognition and presentation of other-than-temporary impairments .", "this new guidance amends the recognition guidance for other-than-temporary impairments of debt securities and expands the financial statement disclosures for other-than-temporary impairments on debt and equity securities .", "for available for sale debt securities that the company has no intent to sell and more likely than not will not be required to sell prior to recovery , only the credit loss component of the impairment would be recognized in earnings , while the rest of the fair value loss would be recognized in accumulated other comprehensive income ( loss ) .", "the company adopted this guidance effective april 1 , 2009 .", "upon adoption the company recognized a cumulative-effect adjustment increase in retained earnings ( deficit ) and decrease in accumulated other comprehensive income ( loss ) as follows : ( dollars in thousands ) ." ]

[ "cumulative-effect adjustment gross the tax of $ 65658 is -8346 ( 8346 ) ;" ]

[ [ "cumulative-effect adjustment gross", "$ 65658" ], [ "tax", "-8346 ( 8346 )" ], [ "cumulative-effect adjustment net", "$ 57312" ] ]

[ "( a ) includes collateral related to derivative instruments where an appropriate legal opinion has not been either sought or obtained .", "derivative receivables reported on the consolidated balance sheets were $ 64.1 billion and $ 59.7 billion at december 31 , 2016 and 2015 , respectively .", "these amounts represent the fair value of the derivative contracts after giving effect to legally enforceable master netting agreements and cash collateral held by the firm .", "however , in management 2019s view , the appropriate measure of current credit risk should also take into consideration additional liquid securities ( primarily u.s .", "government and agency securities and other group of seven nations ( 201cg7 201d ) government bonds ) and other cash collateral held by the firm aggregating $ 22.7 billion and $ 16.6 billion at december 31 , 2016 and 2015 , respectively , that may be used as security when the fair value of the client 2019s exposure is in the firm 2019s favor .", "the change in derivative receivables was predominantly related to client-driven market-making activities in cib .", "the increase in derivative receivables reflected the impact of market movements , which increased foreign exchange receivables , partially offset by reduced commodity derivative receivables .", "in addition to the collateral described in the preceding paragraph , the firm also holds additional collateral ( primarily cash , g7 government securities , other liquid government-agency and guaranteed securities , and corporate debt and equity securities ) delivered by clients at the initiation of transactions , as well as collateral related to contracts that have a non-daily call frequency and collateral that the firm has agreed to return but has not yet settled as of the reporting date .", "although this collateral does not reduce the balances and is not included in the table above , it is available as security against potential exposure that could arise should the fair value of the client 2019s derivative transactions move in the firm 2019s favor .", "the derivative receivables fair value , net of all collateral , also does not include other credit enhancements , such as letters of credit .", "for additional information on the firm 2019s use of collateral agreements , see note 6 .", "while useful as a current view of credit exposure , the net fair value of the derivative receivables does not capture the potential future variability of that credit exposure .", "to capture the potential future variability of credit exposure , the firm calculates , on a client-by-client basis , three measures of potential derivatives-related credit loss : peak , derivative risk equivalent ( 201cdre 201d ) , and average exposure ( 201cavg 201d ) .", "these measures all incorporate netting and collateral benefits , where applicable .", "peak represents a conservative measure of potential exposure to a counterparty calculated in a manner that is broadly equivalent to a 97.5% ( 97.5 % ) confidence level over the life of the transaction .", "peak is the primary measure used by the firm for setting of credit limits for derivative transactions , senior management reporting and derivatives exposure management .", "dre exposure is a measure that expresses the risk of derivative exposure on a basis intended to be equivalent to the risk of loan exposures .", "dre is a less extreme measure of potential credit loss than peak and is used for aggregating derivative credit risk exposures with loans and other credit risk .", "finally , avg is a measure of the expected fair value of the firm 2019s derivative receivables at future time periods , including the benefit of collateral .", "avg exposure over the total life of the derivative contract is used as the primary metric for pricing purposes and is used to calculate credit capital and the cva , as further described below .", "the three year avg exposure was $ 31.1 billion and $ 32.4 billion at december 31 , 2016 and 2015 , respectively , compared with derivative receivables , net of all collateral , of $ 41.4 billion and $ 43.1 billion at december 31 , 2016 and 2015 , respectively .", "the fair value of the firm 2019s derivative receivables incorporates an adjustment , the cva , to reflect the credit quality of counterparties .", "the cva is based on the firm 2019s avg to a counterparty and the counterparty 2019s credit spread in the credit derivatives market .", "the primary components of changes in cva are credit spreads , new deal activity or unwinds , and changes in the underlying market environment .", "the firm believes that active risk management is essential to controlling the dynamic credit ." ]

[ "management 2019s discussion and analysis 102 jpmorgan chase & co./2016 annual report derivative contracts in the normal course of business , the firm uses derivative instruments predominantly for market-making activities .", "derivatives enable customers to manage exposures to fluctuations in interest rates , currencies and other markets .", "the firm also uses derivative instruments to manage its own credit and other market risk exposure .", "the nature of the counterparty and the settlement mechanism of the derivative affect the credit risk to which the firm is exposed .", "for otc derivatives the firm is exposed to the credit risk of the derivative counterparty .", "for exchange- traded derivatives ( 201cetd 201d ) , such as futures and options and 201ccleared 201d over-the-counter ( 201cotc-cleared 201d ) derivatives , the firm is generally exposed to the credit risk of the relevant ccp .", "where possible , the firm seeks to mitigate its credit risk exposures arising from derivative transactions through the use of legally enforceable master netting arrangements and collateral agreements .", "for further discussion of derivative contracts , counterparties and settlement types , see note 6 .", "the following table summarizes the net derivative receivables for the periods presented .", "derivative receivables ." ]

[ "december 31 ( in millions ) the foreign exchange of 2016 is 23271 ; the foreign exchange of 2015 is 17177 ;" ]

[ [ "december 31 ( in millions )", "2016", "2015" ], [ "interest rate", "$ 28302", "$ 26363" ], [ "credit derivatives", "1294", "1423" ], [ "foreign exchange", "23271", "17177" ], [ "equity", "4939", "5529" ], [ "commodity", "6272", "9185" ], [ "total net of cash collateral", "64078", "59677" ], [ "liquid securities and other cash collateral held against derivative receivables ( a )", "-22705 ( 22705 )", "-16580 ( 16580 )" ], [ "total net of all collateral", "$ 41373", "$ 43097" ] ]

[ "2016 compared to 2015 space systems 2019 net sales in 2016 increased $ 304 million , or 3% ( 3 % ) , compared to 2015 .", "the increase was attributable to net sales of approximately $ 410 million from awe following the consolidation of this business in the third quarter of 2016 ; and approximately $ 150 million for commercial space transportation programs due to increased launch-related activities ; and approximately $ 70 million of higher net sales for various programs ( primarily fleet ballistic missiles ) due to increased volume .", "these increases were partially offset by a decrease in net sales of approximately $ 340 million for government satellite programs due to decreased volume ( primarily sbirs and muos ) and the wind-down or completion of mission solutions programs .", "space systems 2019 operating profit in 2016 increased $ 118 million , or 10% ( 10 % ) , compared to 2015 .", "the increase was primarily attributable to a non-cash , pre-tax gain of approximately $ 127 million related to the consolidation of awe ; and approximately $ 80 million of increased equity earnings from joint ventures ( primarily ula ) .", "these increases were partially offset by a decrease of approximately $ 105 million for government satellite programs due to lower risk retirements ( primarily sbirs , muos and mission solutions programs ) and decreased volume .", "adjustments not related to volume , including net profit booking rate adjustments , were approximately $ 185 million lower in 2016 compared to 2015 .", "2015 compared to 2014 space systems 2019 net sales in 2015 decreased $ 97 million , or 1% ( 1 % ) , compared to 2014 .", "the decrease was attributable to approximately $ 335 million lower net sales for government satellite programs due to decreased volume ( primarily aehf ) and the wind-down or completion of mission solutions programs ; and approximately $ 55 million for strategic missile and defense systems due to lower volume .", "these decreases were partially offset by higher net sales of approximately $ 235 million for businesses acquired in 2014 ; and approximately $ 75 million for the orion program due to increased volume .", "space systems 2019 operating profit in 2015 decreased $ 16 million , or 1% ( 1 % ) , compared to 2014 .", "operating profit increased approximately $ 85 million for government satellite programs due primarily to increased risk retirements .", "this increase was offset by lower operating profit of approximately $ 65 million for commercial satellite programs due to performance matters on certain programs ; and approximately $ 35 million due to decreased equity earnings in joint ventures .", "adjustments not related to volume , including net profit booking rate adjustments and other matters , were approximately $ 105 million higher in 2015 compared to 2014 .", "equity earnings total equity earnings recognized by space systems ( primarily ula ) represented approximately $ 325 million , $ 245 million and $ 280 million , or 25% ( 25 % ) , 21% ( 21 % ) and 24% ( 24 % ) of this business segment 2019s operating profit during 2016 , 2015 and backlog backlog increased in 2016 compared to 2015 primarily due to the addition of awe 2019s backlog .", "backlog decreased in 2015 compared to 2014 primarily due to lower orders for government satellite programs and the orion program and higher sales on the orion program .", "trends we expect space systems 2019 2017 net sales to decrease in the mid-single digit percentage range as compared to 2016 , driven by program lifecycles on government satellite programs , partially offset by the recognition of awe net sales for a full year in 2017 versus a partial year in 2016 following the consolidation of awe in the third quarter of 2016 .", "operating profit ." ]

[ "segment includes awe and our share of earnings for our investment in ula , which provides expendable launch services to the u.s .", "government .", "space systems 2019 operating results included the following ( in millions ) : ." ]

[ "the net sales of 2016 is $ 9409 ; the net sales of 2015 is $ 9105 ; the net sales of 2014 is $ 9202 ;" ]

[ [ "", "2016", "2015", "2014" ], [ "net sales", "$ 9409", "$ 9105", "$ 9202" ], [ "operating profit", "1289", "1171", "1187" ], [ "operating margin", "13.7% ( 13.7 % )", "12.9% ( 12.9 % )", "12.9% ( 12.9 % )" ], [ "backlog atyear-end", "$ 18900", "$ 17400", "$ 20300" ] ]

[ "the above unaudited pro forma financial information includes adjustments for amortization of identifiable intangible assets , accretion of discounts to fair value associated with debt , environmental , self-insurance and other liabilities , accretion of capping , closure and post-closure obligations and amortization of the related assets , and provision for income taxes .", "assets held for sale as a condition of the merger with allied in december 2008 , we reached a settlement with the doj requiring us to divest of certain operations serving fifteen metropolitan areas including los angeles , ca ; san francisco , ca ; denver , co ; atlanta , ga ; northwestern indiana ; lexington , ky ; flint , mi ; cape girardeau , mo ; charlotte , nc ; cleveland , oh ; philadelphia , pa ; greenville-spartanburg , sc ; and fort worth , houston and lubbock , tx .", "the settlement requires us to divest 87 commercial waste collection routes , nine landfills and ten transfer stations , together with ancillary assets and , in three cases , access to landfill disposal capacity .", "we have classified the assets and liabilities we expect to divest ( including accounts receivable , property and equipment , goodwill , and accrued landfill and environmental costs ) as assets held for sale in our consolidated balance sheet at december 31 , 2008 .", "the assets held for sale related to operations that were republic 2019s prior to the merger with allied have been adjusted to the lower of their carrying amounts or estimated fair values less costs to sell , which resulted in us recognizing an asset impairment loss of $ 6.1 million in our consolidated statement of income for the year ended december 31 , 2008 .", "the assets held for sale related to operations that were allied 2019s prior to the merger are recorded at their estimated fair values in our consolidated balance sheet as of december 31 , 2008 in accordance with the purchase method of accounting .", "in february 2009 , we entered into an agreement to divest certain assets to waste connections , inc .", "the assets covered by the agreement include six municipal solid waste landfills , six collection operations and three transfer stations across the following seven markets : los angeles , ca ; denver , co ; houston , tx ; lubbock , tx ; greenville-spartanburg , sc ; charlotte , nc ; and flint , mi .", "the transaction with waste connections is subject to closing conditions regarding due diligence , regulatory approval and other customary matters .", "closing is expected to occur in the second quarter of 2009 .", "republic services , inc .", "and subsidiaries notes to consolidated financial statements %%transmsg*** transmitting job : p14076 pcn : 106000000 ***%%pcmsg|104 |00046|yes|no|02/28/2009 21:07|0|0|page is valid , no graphics -- color : d| ." ]

[ "substantially all of the goodwill and other intangible assets recorded related to the acquisition of allied are not deductible for tax purposes .", "pro forma information the consolidated financial statements presented for republic include the operating results of allied from the date of the acquisition .", "the following pro forma information is presented assuming the merger had been completed as of january 1 , 2007 .", "the unaudited pro forma information presented below has been prepared for illustrative purposes and is not intended to be indicative of the results of operations that would have actually occurred had the acquisition been consummated at the beginning of the periods presented or of future results of the combined operations ( in millions , except share and per share amounts ) .", "year ended december 31 , year ended december 31 , ( unaudited ) ( unaudited ) ." ]

[ "the income from continuing operations available to common stockholders of year ended december 31 2008 ( unaudited ) is 285.7 ; the income from continuing operations available to common stockholders of year ended december 31 2007 ( unaudited ) is 423.2 ;", "the basic earnings per share of year ended december 31 2008 ( unaudited ) is .76 ; the basic earnings per share of year ended december 31 2007 ( unaudited ) is 1.10 ;" ]

[ [ "", "year ended december 31 2008 ( unaudited )", "year ended december 31 2007 ( unaudited )" ], [ "revenue", "$ 9362.2", "$ 9244.9" ], [ "income from continuing operations available to common stockholders", "285.7", "423.2" ], [ "basic earnings per share", ".76", "1.10" ], [ "diluted earnings per share", ".75", "1.09" ] ]

[ "as of december 31 , 2016 , expected employer contributions for 2017 are $ 6.1 million .", "defined contribution plans the company 2019s employees in the united states and puerto rico are eligible to participate in a qualified defined contribution plan .", "in the united states , participants may contribute up to 25% ( 25 % ) of their eligible compensation ( subject to tax code limitation ) to the plan .", "edwards lifesciences matches the first 3% ( 3 % ) of the participant 2019s annual eligible compensation contributed to the plan on a dollar-for-dollar basis .", "edwards lifesciences matches the next 2% ( 2 % ) of the participant 2019s annual eligible compensation to the plan on a 50% ( 50 % ) basis .", "in puerto rico , participants may contribute up to 25% ( 25 % ) of their annual compensation ( subject to tax code limitation ) to the plan .", "edwards lifesciences matches the first 4% ( 4 % ) of participant 2019s annual eligible compensation contributed to the plan on a 50% ( 50 % ) basis .", "the company also provides a 2% ( 2 % ) profit sharing contribution calculated on eligible earnings for each employee .", "matching contributions relating to edwards lifesciences employees were $ 17.3 million , $ 15.3 million , and $ 12.8 million in 2016 , 2015 , and 2014 , respectively .", "the company also has nonqualified deferred compensation plans for a select group of employees .", "the plans provide eligible participants the opportunity to defer eligible compensation to future dates specified by the participant with a return based on investment alternatives selected by the participant .", "the amount accrued under these nonqualified plans was $ 46.7 million and $ 35.5 million at december 31 , 2016 and 2015 , respectively .", "13 .", "common stock treasury stock in july 2014 , the board of directors approved a stock repurchase program authorizing the company to purchase up to $ 750.0 million of the company 2019s common stock .", "in november 2016 , the board of directors approved a new stock repurchase program providing for an additional $ 1.0 billion of repurchases of our common stock .", "the repurchase programs do not have an expiration date .", "stock repurchased under these programs may be used to offset obligations under the company 2019s employee stock-based benefit programs and stock-based business acquisitions , and will reduce the total shares outstanding .", "during 2016 , 2015 , and 2014 , the company repurchased 7.3 million , 2.6 million , and 4.4 million shares , respectively , at an aggregate cost of $ 662.3 million , $ 280.1 million , and $ 300.9 million , respectively , including ." ]

[ "edwards lifesciences corporation notes to consolidated financial statements ( continued ) 12 .", "employee benefit plans ( continued ) equity and debt securities are valued at fair value based on quoted market prices reported on the active markets on which the individual securities are traded .", "the insurance contracts are valued at the cash surrender value of the contracts , which is deemed to approximate its fair value .", "the following benefit payments , which reflect expected future service , as appropriate , at december 31 , 2016 , are expected to be paid ( in millions ) : ." ]

[ "2017 the 2019 of $ 4.5 is 4.0 ;", "2017 the 2021 of $ 4.5 is 4.5 ;" ]

[ [ "2017", "$ 4.5" ], [ "2018", "4.0" ], [ "2019", "4.0" ], [ "2020", "4.6" ], [ "2021", "4.5" ], [ "2021-2025", "44.6" ] ]

[ "( 1 ) excludes our share of investments in unconsolidated entities and non-segment/corporate noi .", "entities in which we have a joint venture with a minority partner are shown at 100% ( 100 % ) of the joint venture amount .", "business strategy our primary objectives are to protect stockholder capital and enhance stockholder value .", "we seek to pay consistent cash dividends to stockholders and create opportunities to increase dividend payments to stockholders as a result of annual increases in net operating income and portfolio growth .", "to meet these objectives , we invest across the full spectrum of seniors housing and health care real estate and diversify our investment portfolio by property type , relationship and geographic location .", "substantially all of our revenues are derived from operating lease rentals , resident fees and services , and interest earned on outstanding loans receivable .", "these items represent our primary sources of liquidity to fund distributions and depend upon the continued ability of our obligors to make contractual rent and interest payments to us and the profitability of our operating properties .", "to the extent that our customers/partners experience operating difficulties and become unable to generate sufficient cash to make payments to us , there could be a material adverse impact on our consolidated results of operations , liquidity and/or financial condition .", "to mitigate this risk , we monitor our investments through a variety of methods determined by the type of property .", "our proactive and comprehensive asset management process for seniors housing properties generally includes review of monthly financial statements and other operating data for each property , review of obligor/ partner creditworthiness , property inspections , and review of covenant compliance relating to licensure , real estate taxes , letters of credit and other collateral .", "our internal property management division actively manages and monitors the outpatient medical portfolio with a comprehensive process including review of tenant relations , lease expirations , the mix of health service providers , hospital/health system relationships , property performance ." ]

[ "item 7 .", "management 2019s discussion and analysis of financial condition and results of operations the following discussion and analysis is based primarily on the consolidated financial statements of welltower inc .", "for the periods presented and should be read together with the notes thereto contained in this annual report on form 10-k .", "other important factors are identified in 201citem 1 2014 business 201d and 201citem 1a 2014 risk factors 201d above .", "executive summary company overview welltower inc .", "( nyse : hcn ) , an s&p 500 company headquartered in toledo , ohio , is driving the transformation of health care infrastructure .", "the company invests with leading seniors housing operators , post- acute providers and health systems to fund the real estate and infrastructure needed to scale innovative care delivery models and improve people 2019s wellness and overall health care experience .", "welltowertm , a real estate investment trust ( 201creit 201d ) , owns interests in properties concentrated in major , high-growth markets in the united states , canada and the united kingdom , consisting of seniors housing and post-acute communities and outpatient medical properties .", "our capital programs , when combined with comprehensive planning , development and property management services , make us a single-source solution for acquiring , planning , developing , managing , repositioning and monetizing real estate assets .", "the following table summarizes our consolidated portfolio for the year ended december 31 , 2016 ( dollars in thousands ) : type of property net operating income ( noi ) ( 1 ) percentage of number of properties ." ]

[ "type of property the triple-net of net operating income ( noi ) ( 1 ) is $ 1208860 ; the triple-net of percentage of noi is 50.3% ( 50.3 % ) ; the triple-net of number of properties is 631 ;", "type of property the totals of net operating income ( noi ) ( 1 ) is $ 2403238 ; the totals of percentage of noi is 100.0% ( 100.0 % ) ; the totals of number of properties is 1313 ;" ]

[ [ "type of property", "net operating income ( noi ) ( 1 )", "percentage of noi", "number of properties" ], [ "triple-net", "$ 1208860", "50.3% ( 50.3 % )", "631" ], [ "seniors housing operating", "814114", "33.9% ( 33.9 % )", "420" ], [ "outpatient medical", "380264", "15.8% ( 15.8 % )", "262" ], [ "totals", "$ 2403238", "100.0% ( 100.0 % )", "1313" ] ]

[ "defined contribution plans we maintain a number of defined contribution plans , most with 401 ( k ) features , that cover substantially all of our employees .", "under the provisions of our 401 ( k ) plans , we match most employees 2019 eligible contributions at rates specified in the plan documents .", "our contributions were $ 658 million in 2018 , $ 613 million in 2017 and $ 617 million in 2016 , the majority of which were funded using our common stock .", "our defined contribution plans held approximately 33.3 million and 35.5 million shares of our common stock as of december 31 , 2018 and 2017. ." ]

[ "valuation techniques 2013 cash equivalents are mostly comprised of short-term money-market instruments and are valued at cost , which approximates fair value .", "u.s .", "equity securities and international equity securities categorized as level 1 are traded on active national and international exchanges and are valued at their closing prices on the last trading day of the year .", "for u.s .", "equity securities and international equity securities not traded on an active exchange , or if the closing price is not available , the trustee obtains indicative quotes from a pricing vendor , broker or investment manager .", "these securities are categorized as level 2 if the custodian obtains corroborated quotes from a pricing vendor or categorized as level 3 if the custodian obtains uncorroborated quotes from a broker or investment manager .", "commingled equity funds categorized as level 1 are traded on active national and international exchanges and are valued at their closing prices on the last trading day of the year .", "for commingled equity funds not traded on an active exchange , or if the closing price is not available , the trustee obtains indicative quotes from a pricing vendor , broker or investment manager .", "these securities are categorized as level 2 if the custodian obtains corroborated quotes from a pricing vendor .", "fixed income investments categorized as level 2 are valued by the trustee using pricing models that use verifiable observable market data ( e.g. , interest rates and yield curves observable at commonly quoted intervals and credit spreads ) , bids provided by brokers or dealers or quoted prices of securities with similar characteristics .", "fixed income investments are categorized as level 3 when valuations using observable inputs are unavailable .", "the trustee typically obtains pricing based on indicative quotes or bid evaluations from vendors , brokers or the investment manager .", "in addition , certain other fixed income investments categorized as level 3 are valued using a discounted cash flow approach .", "significant inputs include projected annuity payments and the discount rate applied to those payments .", "certain commingled equity funds , consisting of equity mutual funds , are valued using the nav .", "the nav valuations are based on the underlying investments and typically redeemable within 90 days .", "private equity funds consist of partnership and co-investment funds .", "the nav is based on valuation models of the underlying securities , which includes unobservable inputs that cannot be corroborated using verifiable observable market data .", "these funds typically have redemption periods between eight and 12 years .", "real estate funds consist of partnerships , most of which are closed-end funds , for which the nav is based on valuation models and periodic appraisals .", "these funds typically have redemption periods between eight and 10 years .", "hedge funds consist of direct hedge funds for which the nav is generally based on the valuation of the underlying investments .", "redemptions in hedge funds are based on the specific terms of each fund , and generally range from a minimum of one month to several months .", "contributions and expected benefit payments the funding of our qualified defined benefit pension plans is determined in accordance with erisa , as amended by the ppa , and in a manner consistent with cas and internal revenue code rules .", "we made contributions of $ 5.0 billion to our qualified defined benefit pension plans in 2018 , including required and discretionary contributions .", "as a result of these contributions , we do not expect to make contributions to our qualified defined benefit pension plans in 2019 .", "the following table presents estimated future benefit payments , which reflect expected future employee service , as of december 31 , 2018 ( in millions ) : ." ]

[ "the qualified defined benefit pension plans of 2019 is $ 2350 ; the qualified defined benefit pension plans of 2020 is $ 2390 ; the qualified defined benefit pension plans of 2021 is $ 2470 ; the qualified defined benefit pension plans of 2022 is $ 2550 ; the qualified defined benefit pension plans of 2023 is $ 2610 ; the qualified defined benefit pension plans of 2024 2013 2028 is $ 13670 ;" ]

[ [ "", "2019", "2020", "2021", "2022", "2023", "2024 2013 2028" ], [ "qualified defined benefit pension plans", "$ 2350", "$ 2390", "$ 2470", "$ 2550", "$ 2610", "$ 13670" ], [ "retiree medical and life insurance plans", "170", "180", "180", "180", "170", "810" ] ]

[ "oil prices 2013 fixed through various price swaps , devon has fixed the price it will receive in 2005 on a portion of its oil production .", "the following table includes information on this fixed-price production by area .", "where necessary , the prices have been adjusted for certain transportation costs that are netted against the prices recorded by devon. ." ]

[ "46 d e v o n e n e r g y a n n u a l r e p o r t 2 0 0 4 contents of gas produced , transportation availability and costs and demand for the various products derived from oil , natural gas and ngls .", "substantially all of devon 2019s revenues are attributable to sales , processing and transportation of these three commodities .", "consequently , our financial results and resources are highly influenced by price volatility .", "estimates for devon 2019s future production of oil , natural gas and ngls are based on the assumption that market demand and prices will continue at levels that allow for profitable production of these products .", "there can be no assurance of such stability .", "most of our canadian production is subject to government royalties that fluctuate with prices .", "thus , price fluctuations can affect reported production .", "also , our international production is governed by payout agreements with the governments of the countries in which we operate .", "if the payout under these agreements is attained earlier than projected , devon 2019s net production and proved reserves in such areas could be reduced .", "estimates for our future processing and transport of oil , natural gas and ngls are based on the assumption that market demand and prices will continue at levels that allow for profitable processing and transport of these products .", "there can be no assurance of such stability .", "the production , transportation , processing and marketing of oil , natural gas and ngls are complex processes which are subject to disruption from many causes .", "these causes include transportation and processing availability , mechanical failure , human error , meteorological events including , but not limited to , hurricanes , and numerous other factors .", "the following forward-looking statements were prepared assuming demand , curtailment , producibility and general market conditions for devon 2019s oil , natural gas and ngls during 2005 will be substantially similar to those of 2004 , unless otherwise noted .", "unless otherwise noted , all of the following dollar amounts are expressed in u.s .", "dollars .", "amounts related to canadian operations have been converted to u.s .", "dollars using a projected average 2005 exchange rate of $ 0.82 u.s .", "to $ 1.00 canadian .", "the actual 2005 exchange rate may vary materially from this estimate .", "such variations could have a material effect on the following estimates .", "though we have completed several major property acquisitions and dispositions in recent years , these transactions are opportunity driven .", "thus , the following forward-looking data excludes the financial and operating effects of potential property acquisitions or divestitures , except as discussed in 201cproperty acquisitions and divestitures , 201d during the year 2005 .", "the timing and ultimate results of such acquisition and divestiture activity is difficult to predict , and may vary materially from that discussed in this report .", "geographic reporting areas for 2005 the following estimates of production , average price differentials and capital expenditures are provided separately for each of the following geographic areas : 2022 the united states onshore ; 2022 the united states offshore , which encompasses all oil and gas properties in the gulf of mexico ; 2022 canada ; and 2022 international , which encompasses all oil and gas properties that lie outside of the united states and canada .", "year 2005 potential operating items the estimates related to oil , gas and ngl production , operating costs and dd&a set forth in the following paragraphs are based on estimates for devon 2019s properties other than those that have been designated for possible sale ( see 201cproperty acquisitions and divestitures 201d ) .", "therefore , the following estimates exclude the results of the potential sale properties for the entire year .", "oil , gas and ngl production set forth in the following paragraphs are individual estimates of devon 2019s oil , gas and ngl production for 2005 .", "on a combined basis , devon estimates its 2005 oil , gas and ngl production will total 217 mmboe .", "of this total , approximately 92% ( 92 % ) is estimated to be produced from reserves classified as 201cproved 201d at december 31 , 2004 .", "oil production we expect our oil production in 2005 to total 60 mmbbls .", "of this total , approximately 95% ( 95 % ) is estimated to be produced from reserves classified as 201cproved 201d at december 31 , 2004 .", "the expected production by area is as follows: ." ]

[ "oil production we expect our oil production in 2005 to total 60 mmbbls .", "of this total , approximately 95% ( 95 % ) is estimated to be produced from reserves classified as 201cproved 201d at december 31 , 2004 ." ]

[ [ "", "( mmbbls )" ], [ "united states onshore", "12" ], [ "united states offshore", "10" ], [ "canada", "12" ], [ "international", "26" ] ]

[ "gain related to charitable contribution ( 80 ) 2014 2014 compensation expense related to ( appreciation ) depreciation on deferred compensation plans ( 10 ) ( 6 ) 3 nonoperating income ( expense ) , less net income ( loss ) attributable to nci , as adjusted $ 7 $ ( 42 ) $ ( 113 ) ( c ) net income attributable to blackrock , as adjusted : management believes net income attributable to blackrock , inc. , as adjusted , and diluted earnings per common share , as adjusted , are useful measures of blackrock 2019s profitability and financial performance .", "net income attributable to blackrock , inc. , as adjusted , equals net income attributable to blackrock , inc. , gaap basis , adjusted for significant nonrecurring items , charges that ultimately will not impact blackrock 2019s book value or certain tax items that do not impact cash flow .", "see note ( a ) operating income , as adjusted , and operating margin , as adjusted , for information on the pnc ltip funding obligation , merrill lynch compensation contribution , charitable contribution , u.k .", "lease exit costs , contribution to stifs and restructuring charges .", "the 2013 results included a tax benefit of approximately $ 48 million recognized in connection with the charitable contribution .", "the tax benefit has been excluded from net income attributable to blackrock , inc. , as adjusted due to the nonrecurring nature of the charitable contribution .", "during 2013 , income tax changes included adjustments related to the revaluation of certain deferred income tax liabilities , including the effect of legislation enacted in the united kingdom and domestic state and local income tax changes .", "during 2012 , income tax changes included adjustments related to the revaluation of certain deferred income tax liabilities , including the effect of legislation enacted in the united kingdom and the state and local income tax effect resulting from changes in the company 2019s organizational structure .", "during 2011 , income tax changes included adjustments related to the revaluation of certain deferred income tax liabilities due to a state tax election and enacted u.k. , japan , u.s .", "state and local tax legislation .", "the resulting decrease in income taxes has been excluded from net income attributable to blackrock , inc. , as adjusted , as these items will not have a cash flow impact and to ensure comparability among periods presented. ." ]

[ "nonoperating income ( expense ) .", "blackrock also uses operating margin , as adjusted , to monitor corporate performance and efficiency and as a benchmark to compare its performance with other companies .", "management uses both gaap and non-gaap financial measures in evaluating blackrock 2019s financial performance .", "the non-gaap measure by itself may pose limitations because it does not include all of blackrock 2019s revenues and expenses .", "operating income used for measuring operating margin , as adjusted , is equal to operating income , as adjusted , excluding the impact of closed-end fund launch costs and related commissions .", "management believes the exclusion of such costs and related commissions is useful because these costs can fluctuate considerably and revenues associated with the expenditure of these costs will not fully impact blackrock 2019s results until future periods .", "revenue used for operating margin , as adjusted , excludes distribution and servicing costs paid to related parties and other third parties .", "management believes the exclusion of such costs is useful because it creates consistency in the treatment for certain contracts for similar services , which due to the terms of the contracts , are accounted for under gaap on a net basis within investment advisory , administration fees and securities lending revenue .", "amortization of deferred sales commissions is excluded from revenue used for operating margin measurement , as adjusted , because such costs , over time , substantially offset distribution fee revenue the company earns .", "for each of these items , blackrock excludes from revenue used for operating margin , as adjusted , the costs related to each of these items as a proxy for such offsetting revenues .", "( b ) nonoperating income ( expense ) , less net income ( loss ) attributable to noncontrolling interests , as adjusted , is presented below .", "the compensation expense offset is recorded in operating income .", "this compensation expense has been included in nonoperating income ( expense ) , less net income ( loss ) attributable to nci , as adjusted , to offset returns on investments set aside for these plans , which are reported in nonoperating income ( expense ) , gaap basis .", "management believes nonoperating income ( expense ) , less net income ( loss ) attributable to nci , as adjusted , provides comparability of information among reporting periods and is an effective measure for reviewing blackrock 2019s nonoperating contribution to results .", "as compensation expense associated with ( appreciation ) depreciation on investments related to certain deferred compensation plans , which is included in operating income , substantially offsets the gain ( loss ) on the investments set aside for these plans , management believes nonoperating income ( expense ) , less net income ( loss ) attributable to nci , as adjusted , provides a useful measure , for both management and investors , of blackrock 2019s nonoperating results that impact book value .", "during 2013 , the noncash , nonoperating pre-tax gain of $ 80 million related to the contributed pennymac investment has been excluded from nonoperating income ( expense ) , less net income ( loss ) attributable to nci , as adjusted due to its nonrecurring nature and because the more than offsetting associated charitable contribution expense of $ 124 million is reported in operating income .", "( in millions ) 2013 2012 2011 nonoperating income ( expense ) , gaap basis $ 116 $ ( 54 ) $ ( 114 ) less : net income ( loss ) attributable to nci 19 ( 18 ) 2 ." ]

[ "( in millions ) the nonoperating income ( expense ) gaap basis of 2013 is $ 116 ; the nonoperating income ( expense ) gaap basis of 2012 is $ -54 ( 54 ) ; the nonoperating income ( expense ) gaap basis of 2011 is $ -114 ( 114 ) ;", "( in millions ) 2013 2012 2011 nonoperating income ( expense ) , gaap basis $ 116 $ ( 54 ) $ ( 114 ) less : net income ( loss ) attributable to nci 19 ( 18 ) 2 .", "the 2013 results included a tax benefit of approximately $ 48 million recognized in connection with the charitable contribution ." ]

[ [ "( in millions )", "2013", "2012", "2011" ], [ "nonoperating income ( expense ) gaap basis", "$ 116", "$ -54 ( 54 )", "$ -114 ( 114 )" ], [ "less : net income ( loss ) attributable to nci", "19", "-18 ( 18 )", "2" ], [ "nonoperating income ( expense )", "97", "-36 ( 36 )", "-116 ( 116 )" ], [ "gain related to charitable contribution", "-80 ( 80 )", "2014", "2014" ], [ "compensation expense related to ( appreciation ) depreciation on deferred compensation plans", "-10 ( 10 )", "-6 ( 6 )", "3" ], [ "nonoperating income ( expense ) less net income ( loss ) attributable to nci as adjusted", "$ 7", "$ -42 ( 42 )", "$ -113 ( 113 )" ] ]

[ "operating environment .", "following a challenging first quarter of 2016 , market conditions continued to improve with higher asset prices resulting in full year appreciation in our client assets in both equity and fixed income assets .", "also , our assets under supervision increased during 2016 from net inflows , primarily in fixed income assets , and liquidity products .", "the mix of our average assets under supervision shifted slightly compared with 2015 from long- term assets under supervision to liquidity products .", "management fees have been impacted by many factors , including inflows to advisory services and outflows from actively-managed mutual funds .", "in the future , if asset prices decline , or investors continue the trend of favoring assets that typically generate lower fees or investors withdraw their assets , net revenues in investment management would likely be negatively impacted .", "during 2015 , investment management operated in an environment generally characterized by strong client net inflows , which more than offset the declines in equity and fixed income asset prices , which resulted in depreciation in the value of client assets , particularly in the third quarter of 2015 .", "the mix of average assets under supervision shifted slightly from long-term assets under supervision to liquidity products compared with 2014 .", "2016 versus 2015 .", "net revenues in investment management were $ 5.79 billion for 2016 , 7% ( 7 % ) lower than 2015 .", "this decrease primarily reflected significantly lower incentive fees compared with a strong 2015 .", "in addition , management and other fees were slightly lower , reflecting shifts in the mix of client assets and strategies , partially offset by the impact of higher average assets under supervision .", "during the year , total assets under supervision increased $ 127 billion to $ 1.38 trillion .", "long-term assets under supervision increased $ 75 billion , including net inflows of $ 42 billion , primarily in fixed income assets , and net market appreciation of $ 33 billion , primarily in equity and fixed income assets .", "in addition , liquidity products increased $ 52 billion .", "operating expenses were $ 4.65 billion for 2016 , 4% ( 4 % ) lower than 2015 , due to decreased compensation and benefits expenses , reflecting lower net revenues .", "pre-tax earnings were $ 1.13 billion in 2016 , 17% ( 17 % ) lower than 2015 .", "2015 versus 2014 .", "net revenues in investment management were $ 6.21 billion for 2015 , 3% ( 3 % ) higher than 2014 , due to slightly higher management and other fees , primarily reflecting higher average assets under supervision , and higher transaction revenues .", "during 2015 , total assets under supervision increased $ 74 billion to $ 1.25 trillion .", "long-term assets under supervision increased $ 51 billion , including net inflows of $ 71 billion ( which includes $ 18 billion of asset inflows in connection with our acquisition of pacific global advisors 2019 solutions business ) , and net market depreciation of $ 20 billion , both primarily in fixed income and equity assets .", "in addition , liquidity products increased $ 23 billion .", "operating expenses were $ 4.84 billion for 2015 , 4% ( 4 % ) higher than 2014 , due to increased compensation and benefits expenses , reflecting higher net revenues .", "pre-tax earnings were $ 1.37 billion in 2015 , 2% ( 2 % ) lower than 2014 .", "geographic data see note 25 to the consolidated financial statements for a summary of our total net revenues , pre-tax earnings and net earnings by geographic region .", "goldman sachs 2016 form 10-k 65 ." ]

[ "the goldman sachs group , inc .", "and subsidiaries management 2019s discussion and analysis 2030 total aus net inflows/ ( outflows ) for 2014 includes $ 19 billion of fixed income asset inflows in connection with our acquisition of deutsche asset & wealth management 2019s stable value business and $ 6 billion of liquidity products inflows in connection with our acquisition of rbs asset management 2019s money market funds .", "the table below presents our average monthly assets under supervision by asset class .", "average for the year ended december $ in billions 2016 2015 2014 ." ]

[ "$ in billions the fixed income of average for theyear ended december 2016 is 578 ; the fixed income of average for theyear ended december 2015 is 530 ; the fixed income of average for theyear ended december 2014 is 499 ;", "$ in billions the total long-term assets under supervision of average for theyear ended december 2016 is 983 ; the total long-term assets under supervision of average for theyear ended december 2015 is 922 ; the total long-term assets under supervision of average for theyear ended december 2014 is 869 ;" ]

[ [ "$ in billions", "average for theyear ended december 2016", "average for theyear ended december 2015", "average for theyear ended december 2014" ], [ "alternative investments", "$ 149", "$ 145", "$ 145" ], [ "equity", "256", "247", "225" ], [ "fixed income", "578", "530", "499" ], [ "total long-term assets under supervision", "983", "922", "869" ], [ "liquidity products", "326", "272", "248" ], [ "total assets under supervision", "$ 1309", "$ 1194", "$ 1117" ] ]

[ "revised capital framework the u.s .", "federal bank regulatory agencies ( agencies ) have approved revised risk-based capital and leverage ratio regulations establishing a new comprehensive capital framework for u.s .", "banking organizations ( revised capital framework ) .", "these regulations are largely based on the basel committee 2019s december 2010 final capital framework for strengthening international capital standards ( basel iii ) and also implement certain provisions of the dodd-frank act .", "under the revised capital framework , group inc .", "is an 201cadvanced approach 201d banking organization .", "below are the aspects of the rules that are most relevant to the firm , as an advanced approach banking organization .", "definition of capital and capital ratios .", "the revised capital framework introduced changes to the definition of regulatory capital , which , subject to transitional provisions , became effective across the firm 2019s regulatory capital and leverage ratios on january 1 , 2014 .", "these changes include the introduction of a new capital measure called common equity tier 1 ( cet1 ) , and the related regulatory capital ratio of cet1 to rwas ( cet1 ratio ) .", "in addition , the definition of tier 1 capital has been narrowed to include only cet1 and instruments such as perpetual non- cumulative preferred stock , which meet certain criteria .", "certain aspects of the revised requirements phase in over time .", "these include increases in the minimum capital ratio requirements and the introduction of new capital buffers and certain deductions from regulatory capital ( such as investments in nonconsolidated financial institutions ) .", "in addition , junior subordinated debt issued to trusts is being phased out of regulatory capital .", "the minimum cet1 ratio is 4.0% ( 4.0 % ) as of january 1 , 2014 and will increase to 4.5% ( 4.5 % ) on january 1 , 2015 .", "the minimum tier 1 capital ratio increased from 4.0% ( 4.0 % ) to 5.5% ( 5.5 % ) on january 1 , 2014 and will increase to 6.0% ( 6.0 % ) beginning january 1 , 2015 .", "the minimum total capital ratio remains unchanged at 8.0% ( 8.0 % ) .", "these minimum ratios will be supplemented by a new capital conservation buffer that phases in , beginning january 1 , 2016 , in increments of 0.625% ( 0.625 % ) per year until it reaches 2.5% ( 2.5 % ) on january 1 , 2019 .", "the revised capital framework also introduces a new counter-cyclical capital buffer , to be imposed in the event that national supervisors deem it necessary in order to counteract excessive credit growth .", "risk-weighted assets .", "in february 2014 , the federal reserve board informed us that we have completed a satisfactory 201cparallel run , 201d as required of advanced approach banking organizations under the revised capital framework , and therefore changes to rwas will take effect beginning with the second quarter of 2014 .", "accordingly , the calculation of rwas in future quarters will be based on the following methodologies : 2030 during the first quarter of 2014 2014 the basel i risk-based capital framework adjusted for certain items related to existing capital deductions and the phase-in of new capital deductions ( basel i adjusted ) ; 2030 during the remaining quarters of 2014 2014 the higher of rwas computed under the basel iii advanced approach or the basel i adjusted calculation ; and 2030 beginning in the first quarter of 2015 2014 the higher of rwas computed under the basel iii advanced or standardized approach .", "goldman sachs 2013 annual report 191 ." ]

[ "notes to consolidated financial statements the table below presents information regarding group inc . 2019s regulatory capital ratios and tier 1 leverage ratio under basel i , as implemented by the federal reserve board .", "the information as of december 2013 reflects the revised market risk regulatory capital requirements .", "these changes resulted in increased regulatory capital requirements for market risk .", "the information as of december 2012 is prior to the implementation of these revised market risk regulatory capital requirements. ." ]

[ "$ in millions the tier 1 capital of as of december 2013 is $ 72471 ; the tier 1 capital of as of december 2012 is $ 66977 ;" ]

[ [ "$ in millions", "as of december 2013", "as of december 2012" ], [ "tier 1 capital", "$ 72471", "$ 66977" ], [ "tier 2 capital", "$ 13632", "$ 13429" ], [ "total capital", "$ 86103", "$ 80406" ], [ "risk-weighted assets", "$ 433226", "$ 399928" ], [ "tier 1 capital ratio", "16.7% ( 16.7 % )", "16.7% ( 16.7 % )" ], [ "total capital ratio", "19.9% ( 19.9 % )", "20.1% ( 20.1 % )" ], [ "tier 1 leverage ratio", "8.1% ( 8.1 % )", "7.3% ( 7.3 % )" ] ]

[ "guarantees we have certain contingent obligations under guarantees of certain of our subsidiaries ( 201cparent company guarantees 201d ) relating principally to credit facilities , guarantees of certain media payables and operating leases .", "the amount of such parent company guarantees was $ 327.1 and $ 327.9 as of december 31 , 2007 and 2006 , respectively .", "in the event of non-payment by the applicable subsidiary of the obligations covered by a guarantee , we would be obligated to pay the amounts covered by that guarantee .", "as of december 31 , 2007 , there are no material assets pledged as security for such parent company guarantees .", "contingent acquisition obligations we have structured certain acquisitions with additional contingent purchase price obligations in order to reduce the potential risk associated with negative future performance of the acquired entity .", "in addition , we have entered into agreements that may require us to purchase additional equity interests in certain consolidated and unconsolidated subsidiaries .", "the amounts relating to these transactions are based on estimates of the future financial performance of the acquired entity , the timing of the exercise of these rights , changes in foreign currency exchange rates and other factors .", "we have not recorded a liability for these items since the definitive amounts payable are not determinable or distributable .", "when the contingent acquisition obligations have been met and consideration is determinable and distributable , we record the fair value of this consideration as an additional cost of the acquired entity .", "however , we recognize deferred payments and purchases of additional interests after the effective date of purchase that are contingent upon the future employment of owners as compensation expense .", "compensation expense is determined based on the terms and conditions of the respective acquisition agreements and employment terms of the former owners of the acquired businesses .", "this future expense will not be allocated to the assets and liabilities acquired and is amortized over the required employment terms of the former owners .", "the following table details the estimated liability with respect to our contingent acquisition obligations and the estimated amount that would be paid under the options , in the event of exercise at the earliest exercise date .", "all payments are contingent upon achieving projected operating performance targets and satisfying other notes to consolidated financial statements 2014 ( continued ) ( amounts in millions , except per share amounts ) ." ]

[ "future minimum lease commitments for office premises and equipment under non-cancelable leases , along with minimum sublease rental income to be received under non-cancelable subleases , are as follows : period rent obligations sublease rental income net rent ." ]

[ "period the 2008 of rent obligations is $ 323.9 ; the 2008 of sublease rental income is $ -40.9 ( 40.9 ) ; the 2008 of net rent is $ 283.0 ;" ]

[ [ "period", "rent obligations", "sublease rental income", "net rent" ], [ "2008", "$ 323.9", "$ -40.9 ( 40.9 )", "$ 283.0" ], [ "2009", "300.9", "-37.5 ( 37.5 )", "263.4" ], [ "2010", "267.7", "-31.0 ( 31.0 )", "236.7" ], [ "2011", "233.7", "-25.7 ( 25.7 )", "208.0" ], [ "2012", "197.9", "-20.2 ( 20.2 )", "177.7" ], [ "2013 and thereafter", "871.0", "-33.1 ( 33.1 )", "837.9" ], [ "total", "$ 2195.1", "$ -188.4 ( 188.4 )", "$ 2006.7" ] ]

[ "the net wholesale revenue variance is primarily due to increased sales to municipal and co-op customers due to the addition of new contracts .", "the volume/weather variance is primarily due to increased electricity usage primarily in the residential and commercial sectors , resulting from a 1.5% ( 1.5 % ) increase in customers , coupled with the effect of more favorable weather on residential sales .", "billed electricity usage increased a total of 777 gwh , or 5% ( 5 % ) .", "the rough production cost equalization variance is due to an additional $ 18.6 million allocation recorded in the second quarter of 2009 for 2007 rough production cost equalization receipts ordered by the puct to texas retail customers over what was originally allocated to entergy texas prior to the jurisdictional separation of entergy gulf states , inc .", "into entergy gulf states louisiana and entergy texas , effective december 2007 , as discussed in note 2 to the financial statements .", "the retail electric price variance is primarily due to rate actions , including an annual base rate increase of $ 59 million beginning august 2010 as a result of the settlement of the december 2009 rate case .", "see note 2 to the financial statements for further discussion of the rate case settlement .", "the securitization transition charge variance is due to the issuance of securitization bonds .", "in november 2009 , entergy texas restoration funding , llc , a company wholly-owned and consolidated by entergy texas , issued securitization bonds and with the proceeds purchased from entergy texas the transition property , which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds .", "the securitization transition charge is offset with a corresponding increase in interest on long-term debt with no impact on net income .", "see note 5 to the financial statements for further discussion of the securitization bond issuance. ." ]

[ "entergy texas , inc .", "and subsidiaries management 2019s financial discussion and analysis gross operating revenues , fuel and purchased power expenses , and other regulatory charges gross operating revenues increased primarily due to the base rate increases and the volume/weather effect , as discussed above .", "fuel and purchased power expenses increased primarily due to an increase in demand coupled with an increase in deferred fuel expense as a result of lower fuel refunds in 2011 versus 2010 , partially offset by a decrease in the average market price of natural gas .", "other regulatory charges decreased primarily due to the distribution in the first quarter 2011 of $ 17.4 million to customers of the 2007 rough production cost equalization remedy receipts .", "see note 2 to the financial statements for further discussion of the rough production cost equalization proceedings .", "2010 compared to 2009 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges ( credits ) .", "following is an analysis of the change in net revenue comparing 2010 to 2009 .", "amount ( in millions ) ." ]

[ "the 2009 net revenue of amount ( in millions ) is $ 485.1 ;", "the net wholesale revenue of amount ( in millions ) is 27.7 ;", "the 2010 net revenue of amount ( in millions ) is $ 540.2 ;" ]

[ [ "", "amount ( in millions )" ], [ "2009 net revenue", "$ 485.1" ], [ "net wholesale revenue", "27.7" ], [ "volume/weather", "27.2" ], [ "rough production cost equalization", "18.6" ], [ "retail electric price", "16.3" ], [ "securitization transition charge", "15.3" ], [ "purchased power capacity", "-44.3 ( 44.3 )" ], [ "other", "-5.7 ( 5.7 )" ], [ "2010 net revenue", "$ 540.2" ] ]

[ "the stock price performance included in this graph is not necessarily indicative of future stock price performance. ." ]

[ "declaration and payment of future quarterly dividends is at the discretion of our board and may be adjusted as business needs or market conditions change .", "in addition , under the terms of the merger agreement , we have agreed with aetna to coordinate the declaration and payment of dividends so that our stockholders do not fail to receive a quarterly dividend around the time of the closing of the merger .", "on october 29 , 2015 , the board declared a cash dividend of $ 0.29 per share that was paid on january 29 , 2016 to stockholders of record on december 30 , 2015 , for an aggregate amount of $ 43 million .", "stock total return performance the following graph compares our total return to stockholders with the returns of the standard & poor 2019s composite 500 index ( 201cs&p 500 201d ) and the dow jones us select health care providers index ( 201cpeer group 201d ) for the five years ended december 31 , 2015 .", "the graph assumes an investment of $ 100 in each of our common stock , the s&p 500 , and the peer group on december 31 , 2010 , and that dividends were reinvested when paid. ." ]

[ "the hum of 12/31/2010 is $ 100 ; the hum of 12/31/2011 is $ 162 ; the hum of 12/31/2012 is $ 128 ; the hum of 12/31/2013 is $ 195 ; the hum of 12/31/2014 is $ 274 ; the hum of 12/31/2015 is $ 343 ;", "the s&p 500 of 12/31/2010 is $ 100 ; the s&p 500 of 12/31/2011 is $ 102 ; the s&p 500 of 12/31/2012 is $ 118 ; the s&p 500 of 12/31/2013 is $ 157 ; the s&p 500 of 12/31/2014 is $ 178 ; the s&p 500 of 12/31/2015 is $ 181 ;", "the peer group of 12/31/2010 is $ 100 ; the peer group of 12/31/2011 is $ 110 ; the peer group of 12/31/2012 is $ 129 ; the peer group of 12/31/2013 is $ 177 ; the peer group of 12/31/2014 is $ 226 ; the peer group of 12/31/2015 is $ 239 ;" ]

[ [ "", "12/31/2010", "12/31/2011", "12/31/2012", "12/31/2013", "12/31/2014", "12/31/2015" ], [ "hum", "$ 100", "$ 162", "$ 128", "$ 195", "$ 274", "$ 343" ], [ "s&p 500", "$ 100", "$ 102", "$ 118", "$ 157", "$ 178", "$ 181" ], [ "peer group", "$ 100", "$ 110", "$ 129", "$ 177", "$ 226", "$ 239" ] ]

[ "see note 4 to the financial statements for a description of the money pool .", "entergy arkansas has a credit facility in the amount of $ 150 million scheduled to expire in august 2021 .", "entergy arkansas also has a $ 20 million credit facility scheduled to expire in april 2017 .", "the $ 150 million credit facility allows entergy arkansas to issue letters of credit against 50% ( 50 % ) of the borrowing capacity of the facility .", "as of december 31 , 2016 , there were no cash borrowings and no letters of credit outstanding under the credit facilities .", "in addition , entergy arkansas is a party to an uncommitted letter of credit facility as a means to post collateral to support its obligations under miso .", "as of december 31 , 2016 , a $ 1 million letter of credit was outstanding under entergy arkansas 2019s uncommitted letter of credit facility .", "see note 4 to the financial statements for additional discussion of the credit facilities .", "the entergy arkansas nuclear fuel company variable interest entity has a credit facility in the amount of $ 80 million scheduled to expire in may 2019 .", "as of december 31 , 2016 , no letters of credit were outstanding under the credit facility to support commercial paper issued by the entergy arkansas nuclear fuel company variable interest entity .", "see note 4 to the financial statements for additional discussion of the nuclear fuel company variable interest entity credit facility .", "entergy arkansas obtained authorizations from the ferc through october 2017 for short-term borrowings not to exceed an aggregate amount of $ 250 million at any time outstanding and long-term borrowings by its nuclear fuel company variable interest entity .", "see note 4 to the financial statements for further discussion of entergy arkansas 2019s short-term borrowing limits .", "the long-term securities issuances of entergy arkansas are limited to amounts authorized by the apsc and the tennessee regulatory authority ; the current authorizations extend through december 2018. ." ]

[ "entergy arkansas , inc .", "and subsidiaries management 2019s financial discussion and analysis stock restrict the amount of retained earnings available for the payment of cash dividends or other distributions on its common and preferred stock .", "sources of capital entergy arkansas 2019s sources to meet its capital requirements include : 2022 internally generated funds ; 2022 cash on hand ; 2022 debt or preferred stock issuances ; and 2022 bank financing under new or existing facilities .", "entergy arkansas may refinance , redeem , or otherwise retire debt and preferred stock prior to maturity , to the extent market conditions and interest and dividend rates are favorable .", "all debt and common and preferred stock issuances by entergy arkansas require prior regulatory approval .", "preferred stock and debt issuances are also subject to issuance tests set forth in entergy arkansas 2019s corporate charters , bond indentures , and other agreements .", "entergy arkansas has sufficient capacity under these tests to meet its foreseeable capital needs .", "entergy arkansas 2019s receivables from or ( payables to ) the money pool were as follows as of december 31 for each of the following years. ." ]

[ "2016 the ( $ 51232 ) of 2015 is ( $ 52742 ) ; the ( $ 51232 ) of 2014 is $ 2218 ; the ( $ 51232 ) of 2013 is $ 17531 ;" ]

[ [ "2016", "2015", "2014", "2013" ], [ "( in thousands )", "( in thousands )", "( in thousands )", "( in thousands )" ], [ "( $ 51232 )", "( $ 52742 )", "$ 2218", "$ 17531" ] ]

[ "indemnified securities financing on behalf of our clients , we lend their securities , as agent , to brokers and other institutions .", "in most circumstances , we indemnify our clients for the fair market value of those securities against a failure of the borrower to return such securities .", "we require the borrowers to maintain collateral in an amount equal to or in excess of 100% ( 100 % ) of the fair market value of the securities borrowed .", "securities on loan and the collateral are revalued daily to determine if additional collateral is necessary or if excess collateral is required to be returned to the borrower .", "collateral received in connection with our securities lending services is held by us as agent and is not recorded in our consolidated statement of condition .", "the cash collateral held by us as agent is invested on behalf of our clients .", "in certain cases , the cash collateral is invested in third-party repurchase agreements , for which we indemnify the client against loss of the principal invested .", "we require the counterparty to the indemnified repurchase agreement to provide collateral in an amount equal to or in excess of 100% ( 100 % ) of the amount of the repurchase agreement .", "in our role as agent , the indemnified repurchase agreements and the related collateral held by us are not recorded in our consolidated statement of condition. ." ]

[ "state street corporation notes to consolidated financial statements ( continued ) with respect to the 5.25% ( 5.25 % ) subordinated bank notes due 2018 , state street bank is required to make semi- annual interest payments on the outstanding principal balance of the notes on april 15 and october 15 of each year , and the notes qualify for inclusion in tier 2 regulatory capital under current federal regulatory capital guidelines .", "with respect to the 5.30% ( 5.30 % ) subordinated notes due 2016 and the floating-rate subordinated notes due 2015 , state street bank is required to make semi-annual interest payments on the outstanding principal balance of the 5.30% ( 5.30 % ) subordinated notes on january 15 and july 15 of each year , and quarterly interest payments on the outstanding principal balance of the floating-rate notes on march 8 , june 8 , september 8 and december 8 of each year .", "each of the subordinated notes qualifies for inclusion in tier 2 regulatory capital under current federal regulatory capital guidelines .", "note 11 .", "commitments , guarantees and contingencies commitments : we had unfunded off-balance sheet commitments to extend credit totaling $ 21.30 billion and $ 17.86 billion as of december 31 , 2013 and 2012 , respectively .", "the potential losses associated with these commitments equal the gross contractual amounts , and do not consider the value of any collateral .", "approximately 75% ( 75 % ) of our unfunded commitments to extend credit expire within one year from the date of issue .", "since many of these commitments are expected to expire or renew without being drawn upon , the gross contractual amounts do not necessarily represent our future cash requirements .", "guarantees : off-balance sheet guarantees are composed of indemnified securities financing , stable value protection , unfunded commitments to purchase assets , and standby letters of credit .", "the potential losses associated with these guarantees equal the gross contractual amounts , and do not consider the value of any collateral .", "the following table presents the aggregate gross contractual amounts of our off-balance sheet guarantees as of december 31 , 2013 and 2012 .", "amounts presented do not reflect participations to independent third parties. ." ]

[ "( in millions ) the stable value protection of 2013 is 24906 ; the stable value protection of 2012 is 33512 ;" ]

[ [ "( in millions )", "2013", "2012" ], [ "indemnified securities financing", "$ 320078", "$ 302341" ], [ "stable value protection", "24906", "33512" ], [ "asset purchase agreements", "4685", "5063" ], [ "standby letters of credit", "4612", "4552" ] ]

[ "." ]

[ "do so , cme invests such contributions in assets that mirror the assumed investment choices .", "the balances in these plans are subject to the claims of general creditors of the exchange and totaled $ 38.7 million and $ 31.8 million at december 31 , 2012 and 2011 respectively .", "although the value of the plans is recorded as an asset in marketable securities in the consolidated balance sheets , there is an equal and offsetting liability .", "the investment results of these plans have no impact on net income as the investment results are recorded in equal amounts to both investment income and compensation and benefits expense .", "supplemental savings plan .", "cme maintains a supplemental plan to provide benefits for employees who have been impacted by statutory limits under the provisions of the qualified pension and savings plan .", "employees in this plan are subject to the vesting requirements of the underlying qualified plans .", "deferred compensation plan .", "a deferred compensation plan is maintained by cme , under which eligible officers and members of the board of directors may contribute a percentage of their compensation and defer income taxes thereon until the time of distribution .", "comex members 2019 retirement plan and benefits .", "comex maintains a retirement and benefit plan under the comex members 2019 recognition and retention plan ( mrrp ) .", "this plan provides benefits to certain members of the comex division based on long-term membership , and participation is limited to individuals who were comex division members prior to nymex 2019s acquisition of comex in 1994 .", "no new participants were permitted into the plan after the date of this acquisition .", "under the terms of the mrrp , the company is required to fund the plan with a minimum annual contribution of $ 0.8 million until it is fully funded .", "all benefits to be paid under the mrrp are based on reasonable actuarial assumptions which are based upon the amounts that are available and are expected to be available to pay benefits .", "total contributions to the plan were $ 0.8 million for each of 2010 through 2012 .", "at december 31 , 2012 and 2011 , the obligation for the mrrp totaled $ 22.7 million and $ 21.6 million , respectively .", "assets with a fair value of $ 18.4 million and $ 17.7 million have been allocated to this plan at december 31 , 2012 and 2011 , respectively , and are included in marketable securities and cash and cash equivalents in the consolidated balance sheets .", "the balances in these plans are subject to the claims of general creditors of comex .", "13 .", "commitments operating leases .", "cme group has entered into various non-cancellable operating lease agreements , with the most significant being as follows : 2022 in april 2012 , the company sold two buildings in chicago at 141 w .", "jackson and leased back a portion of the property .", "the operating lease , which has an initial lease term ending on april 30 , 2027 , contains four consecutive renewal options for five years .", "2022 in january 2011 , the company entered into an operating lease for office space in london .", "the initial lease term , which became effective on january 20 , 2011 , terminates on march 24 , 2026 , with an option to terminate without penalty in january 2021 .", "2022 in july 2008 , the company renegotiated the operating lease for its headquarters at 20 south wacker drive in chicago .", "the lease , which has an initial term ending on november 30 , 2022 , contains two consecutive renewal options for seven and ten years and a contraction option which allows the company to reduce its occupied space after november 30 , 2018 .", "in addition , the company may exercise a lease expansion option in december 2017 .", "2022 in august 2006 , the company entered into an operating lease for additional office space in chicago .", "the initial lease term , which became effective on august 10 , 2006 , terminates on november 30 , 2023 .", "the lease contains two 5-year renewal options beginning in 2023 .", "at december 31 , 2012 , future minimum payments under non-cancellable operating leases were payable as follows ( in millions ) : ." ]

[ "at december 31 , 2012 and 2011 , the obligation for the mrrp totaled $ 22.7 million and $ 21.6 million , respectively .", "assets with a fair value of $ 18.4 million and $ 17.7 million have been allocated to this plan at december 31 , 2012 and 2011 , respectively , and are included in marketable securities and cash and cash equivalents in the consolidated balance sheets ." ]

[ [ "2013", "$ 28.7" ], [ "2014", "29.1" ], [ "2015", "28.9" ], [ "2016", "28.9" ], [ "2017", "29.3" ], [ "thereafter", "152.9" ], [ "total", "$ 297.8" ] ]

[ "1 foreign currency impacts are included within each line as applicable .", "2 includes cash payment or other reduction of assets to settle liability .", "we classify interest and penalties on income taxes as a component of the provision for income taxes .", "we recognized a net provision for interest and penalties of $ 38 million , $ 34 million and $ 20 million during the years ended december 31 , 2017 , 2016 and 2015 , respectively .", "the total amount of interest and penalties accrued was $ 157 million and $ 120 million as of december a031 , 2017 and 2016 , respectively .", "on january 31 , 2018 , we received a revenue agent 2019s report from the irs indicating the end of the field examination of our u.s .", "income tax returns for 2010 to 2012 .", "in the audits of 2007 to 2012 including the impact of a loss carryback to 2005 , the irs has proposed to tax in the united states profits earned from certain parts transactions by csarl , based on the irs examination team 2019s application of the 201csubstance-over-form 201d or 201cassignment-of-income 201d judicial doctrines .", "we are vigorously contesting the proposed increases to tax and penalties for these years of approximately $ 2.3 billion .", "we believe that the relevant transactions complied with applicable tax laws and did not violate judicial doctrines .", "we have filed u.s .", "income tax returns on this same basis for years after 2012 .", "based on the information currently available , we do not anticipate a significant increase or decrease to our unrecognized tax benefits for this matter within the next 12 months .", "we currently believe the ultimate disposition of this matter will not have a material adverse effect on our consolidated financial position , liquidity or results of operations .", "with the exception of a loss carryback to 2005 , tax years prior to 2007 are generally no longer subject to u.s .", "tax assessment .", "in our major non-u.s .", "jurisdictions including australia , brazil , china , germany , japan , mexico , switzerland , singapore and the u.k. , tax years are typically subject to examination for three to ten years .", "due to the uncertainty related to the timing and potential outcome of audits , we cannot estimate the range of reasonably possible change in unrecognized tax benefits in the next 12 months. ." ]

[ "82 | 2017 form 10-k a reconciliation of the beginning and ending amount of gross unrecognized tax benefits for uncertain tax positions , including positions impacting only the timing of tax benefits , follows .", "reconciliation of unrecognized tax benefits:1 years a0ended a0december a031 ." ]

[ "we recognized a net provision for interest and penalties of $ 38 million , $ 34 million and $ 20 million during the years ended december 31 , 2017 , 2016 and 2015 , respectively ." ]

[ [ "( millions of dollars )", "years ended december 31 , 2017", "years ended december 31 , 2016" ], [ "balance at january 1,", "$ 1032", "$ 968" ], [ "additions for tax positions related to current year", "270", "73" ], [ "additions for tax positions related to prior years", "20", "55" ], [ "reductions for tax positions related to prior years", "-27 ( 27 )", "-36 ( 36 )" ], [ "reductions for settlements2", "-9 ( 9 )", "-24 ( 24 )" ], [ "reductions for expiration of statute of limitations", "2014", "-4 ( 4 )" ], [ "balance at december 31,", "$ 1286", "$ 1032" ], [ "amount that if recognized would impact the effective tax rate", "$ 1209", "$ 963" ] ]

[ "( 1 ) this assumption is based on the company 2019s historical option exercises and those of a set of peer companies that management believes is generally comparable to visa .", "the company 2019s data is weighted based on the number of years between the measurement date and visa 2019s initial public offering as a percentage of the options 2019 contractual term .", "the relative weighting placed on visa 2019s data and peer data in fiscal 2016 was approximately 77% ( 77 % ) and 23% ( 23 % ) , respectively , 67% ( 67 % ) and 33% ( 33 % ) in fiscal 2015 , respectively , and 58% ( 58 % ) and 42% ( 42 % ) in fiscal 2014 , respectively. ." ]

[ "visa inc .", "notes to consolidated financial statements 2014 ( continued ) september 30 , 2016 note 16 2014share-based compensation 2007 equity incentive compensation plan the company 2019s 2007 equity incentive compensation plan , or the eip , authorizes the compensation committee of the board of directors to grant non-qualified stock options ( 201coptions 201d ) , restricted stock awards ( 201crsas 201d ) , restricted stock units ( 201crsus 201d ) and performance-based shares to its employees and non-employee directors , for up to 236 million shares of class a common stock .", "shares available for award may be either authorized and unissued or previously issued shares subsequently acquired by the company .", "the eip will continue to be in effect until all of the common stock available under the eip is delivered and all restrictions on those shares have lapsed , unless the eip is terminated earlier by the company 2019s board of directors .", "in january 2016 , the company 2019s board of directors approved an amendment of the eip effective february 3 , 2016 , such that awards may be granted under the plan until january 31 , 2022 .", "share-based compensation cost is recorded net of estimated forfeitures on a straight-line basis for awards with service conditions only , and on a graded-vesting basis for awards with service , performance and market conditions .", "the company 2019s estimated forfeiture rate is based on an evaluation of historical , actual and trended forfeiture data .", "for fiscal 2016 , 2015 and 2014 , the company recorded share-based compensation cost related to the eip of $ 211 million , $ 184 million and $ 172 million , respectively , in personnel on its consolidated statements of operations .", "the related tax benefits were $ 62 million , $ 54 million and $ 51 million for fiscal 2016 , 2015 and 2014 , respectively .", "the amount of capitalized share-based compensation cost was immaterial during fiscal 2016 , 2015 and all per share amounts and number of shares outstanding presented below reflect the four-for-one stock split that was effected in the second quarter of fiscal 2015 .", "see note 14 2014stockholders 2019 equity .", "options options issued under the eip expire 10 years from the date of grant and primarily vest ratably over 3 years from the date of grant , subject to earlier vesting in full under certain conditions .", "during fiscal 2016 , 2015 and 2014 , the fair value of each stock option was estimated on the date of grant using a black-scholes option pricing model with the following weighted-average assumptions: ." ]

[ "the fair value per option granted of 2016 is $ 15.01 ; the fair value per option granted of 2015 is $ 12.04 ; the fair value per option granted of 2014 is $ 11.03 ;" ]

[ [ "", "2016", "2015", "2014" ], [ "expected term ( in years ) ( 1 )", "4.35", "4.55", "4.80" ], [ "risk-free rate of return ( 2 )", "1.5% ( 1.5 % )", "1.5% ( 1.5 % )", "1.3% ( 1.3 % )" ], [ "expected volatility ( 3 )", "21.7% ( 21.7 % )", "22.0% ( 22.0 % )", "25.2% ( 25.2 % )" ], [ "expected dividend yield ( 4 )", "0.7% ( 0.7 % )", "0.8% ( 0.8 % )", "0.8% ( 0.8 % )" ], [ "fair value per option granted", "$ 15.01", "$ 12.04", "$ 11.03" ] ]

[ "( 1 ) relates to shares employees have elected to have withheld to cover their statutory minimum withholding requirements for personal income taxes related to the vesting of restricted stock units .", "no shares were purchased during the three months ended december 31 , 2009 under our previously announced stock repurchase plan .", "%%transmsg*** transmitting job : d70731 pcn : 033000000 ***%%pcmsg|33 |00012|yes|no|02/10/2010 05:41|0|0|page is valid , no graphics -- color : n| ." ]

[ "we are required under the terms of our preferred stock to pay scheduled quarterly dividends , subject to legally available funds .", "for so long as the preferred stock remains outstanding , ( 1 ) we will not declare , pay or set apart funds for the payment of any dividend or other distribution with respect to any junior stock or parity stock and ( 2 ) neither we , nor any of our subsidiaries , will , subject to certain exceptions , redeem , purchase or otherwise acquire for consideration junior stock or parity stock through a sinking fund or otherwise , in each case unless we have paid or set apart funds for the payment of all accumulated and unpaid dividends with respect to the shares of preferred stock and any parity stock for all preceding dividend periods .", "pursuant to this policy , we paid quarterly dividends of $ 0.265625 per share on our preferred stock on february 1 , 2009 , may 1 , 2009 , august 3 , 2009 and november 2 , 2009 and similar quarterly dividends during each quarter of 2008 .", "the annual cash dividend declared and paid during the years ended december 31 , 2009 and 2008 were $ 10 million and $ 10 million , respectively .", "on january 5 , 2010 , we declared a cash dividend of $ 0.265625 per share on our preferred stock amounting to $ 3 million and a cash dividend of $ 0.04 per share on our series a common stock amounting to $ 6 million .", "both cash dividends are for the period from november 2 , 2009 to january 31 , 2010 and were paid on february 1 , 2010 to holders of record as of january 15 , 2010 .", "on february 1 , 2010 , we announced we would elect to redeem all of our outstanding preferred stock on february 22 , 2010 .", "holders of the preferred stock also have the right to convert their shares at any time prior to 5:00 p.m. , new york city time , on february 19 , 2010 , the business day immediately preceding the february 22 , 2010 redemption date .", "based on the number of outstanding shares as of december 31 , 2009 and considering the redemption of our preferred stock , cash dividends to be paid in 2010 are expected to result in annual dividend payments less than those paid in 2009 .", "the amount available to us to pay cash dividends is restricted by our senior credit agreement .", "any decision to declare and pay dividends in the future will be made at the discretion of our board of directors and will depend on , among other things , our results of operations , cash requirements , financial condition , contractual restrictions and other factors that our board of directors may deem relevant .", "celanese purchases of its equity securities the table below sets forth information regarding repurchases of our series a common stock during the three months ended december 31 , 2009 : period total number of shares purchased ( 1 ) average price paid per share total number of shares purchased as part of publicly announced program approximate dollar value of shares remaining that may be purchased under the program ." ]

[ "period the october 1-31 2009 of total number of shares purchased ( 1 ) is 24980 ; the october 1-31 2009 of average price paid per share is $ 24.54 ; the october 1-31 2009 of total number of shares purchased as part of publicly announced program is - ; the october 1-31 2009 of approximate dollar value of shares remaining that may be purchased under the program is $ 122300000.00 ;", "period the december 1-31 2009 of total number of shares purchased ( 1 ) is 334 ; the december 1-31 2009 of average price paid per share is $ 32.03 ; the december 1-31 2009 of total number of shares purchased as part of publicly announced program is - ; the december 1-31 2009 of approximate dollar value of shares remaining that may be purchased under the program is $ 122300000.00 ;" ]

[ [ "period", "total number of shares purchased ( 1 )", "average price paid per share", "total number of shares purchased as part of publicly announced program", "approximate dollar value of shares remaining that may be purchased under the program" ], [ "october 1-31 2009", "24980", "$ 24.54", "-", "$ 122300000.00" ], [ "november 1-30 2009", "-", "$ -", "-", "$ 122300000.00" ], [ "december 1-31 2009", "334", "$ 32.03", "-", "$ 122300000.00" ] ]

[ "although research & engineering decreased as a percentage of revenue in 2011 as compared to 2010 and in 2010 compared to 2009 , it has increased in absolute dollars by $ 154 million and $ 117 million , respectively .", "these increases in absolute dollars were driven in large part by the impact of the smith acquisition .", "income taxes the schlumberger effective tax rate was 24.4% ( 24.4 % ) in 2011 , 17.3% ( 17.3 % ) in 2010 , and 19.6% ( 19.6 % ) in 2009 .", "the schlumberger effective tax rate is sensitive to the geographic mix of earnings .", "when the percentage of pretax earnings generated outside of north america increases , the schlumberger effective tax rate will generally decrease .", "conversely , when the percentage of pretax earnings generated outside of north america decreases , the schlumberger effective tax rate will generally increase .", "the effective tax rate for both 2011 and 2010 was impacted by the charges and credits described in note 3 to the consolidated financial statements .", "excluding the impact of these charges and credits , the effective tax rate in 2011 was 24.0% ( 24.0 % ) compared to 20.6% ( 20.6 % ) in 2010 .", "this increase in the effective tax rate , excluding the impact of the charges and credits , was primarily attributable to the fact that schlumberger generated a larger proportion of its pretax earnings in north america in 2011 as compared to 2010 as a result of improved market conditions and the effect of a full year 2019s activity from the acquired smith businesses .", "the effective tax rate for 2009 was also impacted by the charges and credits described in note 3 to the consolidated financial statements , but to a much lesser extent .", "excluding charges and credits , the effective tax rate in 2010 was 20.6% ( 20.6 % ) compared to 19.2% ( 19.2 % ) in 2009 .", "this increase is largely attributable to the geographic mix of earnings as well as the inclusion of four months 2019 results from the acquisition of smith , which served to increase the schlumberger effective tax charges and credits schlumberger recorded significant charges and credits in continuing operations during 2011 , 2010 and 2009 .", "these charges and credits , which are summarized below , are more fully described in note 3 to the consolidated financial statements. ." ]

[ "equity in net earnings of affiliated companies equity income from the m-i swaco joint venture in 2010 represents eight months of equity income through the closing of the smith transaction .", "interest expense interest expense of $ 298 million in 2011 increased by $ 91 million compared to 2010 primarily due to the $ 4.6 billion of long-term debt that schlumberger issued during 2011 .", "interest expense of $ 207 million in 2010 decreased by $ 14 million compared to 2009 primarily due to a decline in the weighted average borrowing rates , from 3.9% ( 3.9 % ) to 3.2% ( 3.2 % ) .", "research & engineering and general & administrative expenses , as a percentage of revenue , were as follows: ." ]

[ "interest expense interest expense of $ 298 million in 2011 increased by $ 91 million compared to 2010 primarily due to the $ 4.6 billion of long-term debt that schlumberger issued during 2011 ." ]

[ [ "", "2011", "2010", "2009" ], [ "research & engineering", "2.7% ( 2.7 % )", "3.3% ( 3.3 % )", "3.5% ( 3.5 % )" ], [ "general & administrative", "1.1% ( 1.1 % )", "1.1% ( 1.1 % )", "1.1% ( 1.1 % )" ] ]

[ "noncontrolling interest relating to the remaining units was $ 110.4 million and $ 113.1 million as of december 31 , 2010 and 2009 , respectively .", "during 2006 , the company acquired two shopping center properties located in bay shore and centereach , ny .", "included in noncontrolling interests was approximately $ 41.6 million , including a discount of $ 0.3 million and a fair market value adjustment of $ 3.8 million , in redeemable units ( the 201credeemable units 201d ) , issued by the company in connection with these transactions .", "the prop- erties were acquired through the issuance of $ 24.2 million of redeemable units , which are redeemable at the option of the holder ; approximately $ 14.0 million of fixed rate redeemable units and the assumption of approximately $ 23.4 million of non-recourse debt .", "the redeemable units consist of ( i ) 13963 class a units , par value $ 1000 per unit , which pay the holder a return of 5% ( 5 % ) per annum of the class a par value and are redeemable for cash by the holder at any time after april 3 , 2011 , or callable by the company any time after april 3 , 2016 , and ( ii ) 647758 class b units , valued at an issuance price of $ 37.24 per unit , which pay the holder a return at a rate equal to the company 2019s common stock dividend and are redeemable by the holder at any time after april 3 , 2007 , for cash or at the option of the company for common stock at a ratio of 1:1 , or callable by the company any time after april 3 , 2026 .", "the company is restricted from disposing of these assets , other than through a tax free transaction , until april 2016 and april 2026 for the centereach , ny , and bay shore , ny , assets , respectively .", "during 2007 , 30000 units , or $ 1.1 million par value , of theclass bunits were redeemed by the holder in cash at the option of the company .", "noncontrolling interest relating to the units was $ 40.4 million and $ 40.3 million as of december 31 , 2010 and 2009 , respectively .", "noncontrolling interests also includes 138015 convertible units issued during 2006 , by the company , which were valued at approxi- mately $ 5.3 million , including a fair market value adjustment of $ 0.3 million , related to an interest acquired in an office building located in albany , ny .", "these units are redeemable at the option of the holder after one year for cash or at the option of the company for the company 2019s common stock at a ratio of 1:1 .", "the holder is entitled to a distribution equal to the dividend rate of the company 2019s common stock .", "the company is restricted from disposing of these assets , other than through a tax free transaction , until january 2017. ." ]

[ "kimco realty corporation and subsidiaries notes to consolidated financial statements , continued the units consisted of ( i ) approximately 81.8 million preferred a units par value $ 1.00 per unit , which pay the holder a return of 7.0% ( 7.0 % ) per annum on the preferred a par value and are redeemable for cash by the holder at any time after one year or callable by the company any time after six months and contain a promote feature based upon an increase in net operating income of the properties capped at a 10.0% ( 10.0 % ) increase , ( ii ) 2000 class a preferred units , par value $ 10000 per unit , which pay the holder a return equal to libor plus 2.0% ( 2.0 % ) per annum on the class a preferred par value and are redeemable for cash by the holder at any time after november 30 , 2010 , ( iii ) 2627 class b-1 preferred units , par value $ 10000 per unit , which pay the holder a return equal to 7.0% ( 7.0 % ) per annum on the class b-1 preferred par value and are redeemable by the holder at any time after november 30 , 2010 , for cash or at the company 2019s option , shares of the company 2019s common stock , equal to the cash redemption amount , as defined , ( iv ) 5673 class b-2 preferred units , par value $ 10000 per unit , which pay the holder a return equal to 7.0% ( 7.0 % ) per annum on the class b-2 preferred par value and are redeemable for cash by the holder at any time after november 30 , 2010 , and ( v ) 640001 class c downreit units , valued at an issuance price of $ 30.52 per unit which pay the holder a return at a rate equal to the company 2019s common stock dividend and are redeemable by the holder at any time after november 30 , 2010 , for cash or at the company 2019s option , shares of the company 2019s common stock equal to the class c cash amount , as defined .", "the following units have been redeemed as of december 31 , 2010 : redeemed par value redeemed ( in millions ) redemption type ." ]

[ "type the preferred a units of units redeemed is 2200000 ; the preferred a units of par value redeemed ( in millions ) is $ 2.2 ; the preferred a units of redemption type is cash ;" ]

[ [ "type", "units redeemed", "par value redeemed ( in millions )", "redemption type" ], [ "preferred a units", "2200000", "$ 2.2", "cash" ], [ "class a preferred units", "2000", "$ 20.0", "cash" ], [ "class b-1 preferred units", "2438", "$ 24.4", "cash" ], [ "class b-2 preferred units", "5576", "$ 55.8", "cash/charitable contribution" ], [ "class c downreit units", "61804", "$ 1.9", "cash" ] ]

[ "the demand for property and casualty insurance generally rises as the overall level of economic activity increases and generally falls as such activity decreases , affecting both the commissions and fees generated by our brokerage business .", "the economic activity that impacts property and casualty insurance is described as exposure units , and is most closely correlated with employment levels , corporate revenue and asset values .", "during 2010 we continued to see a 2018 2018soft market 2019 2019 , which began in 2007 , in our retail brokerage product line .", "in a soft market , premium rates flatten or decrease , along with commission revenues , due to increased competition for market share among insurance carriers or increased underwriting capacity .", "changes in premiums have a direct and potentially material impact on the insurance brokerage industry , as commission revenues are generally based on a percentage of the ." ]

[ "considered to be the primary beneficiary of either entity and have therefore deconsolidated both entities .", "at december 31 , 2010 , we held a 36% ( 36 % ) interest in juniperus which is accounted for using the equity method of accounting .", "our potential loss at december 31 , 2010 is limited to our investment of $ 73 million in juniperus , which is recorded in investments in the consolidated statements of financial position .", "we have not provided any financing to juniperus other than previously contractually required amounts .", "juniperus and jchl had combined assets and liabilities of $ 121 million and $ 22 million , respectively , at december 31 , 2008 .", "for the year ended december 31 , 2009 , we recognized $ 36 million of pretax income from juniperus and jchl .", "we recognized $ 16 million of after-tax income , after allocating the appropriate share of net income to the non-controlling interests .", "we previously owned an 85% ( 85 % ) economic equity interest in globe re limited ( 2018 2018globe re 2019 2019 ) , a vie , which provided reinsurance coverage for a defined portfolio of property catastrophe reinsurance contracts underwritten by a third party for a limited period which ended june 1 , 2009 .", "we consolidated globe re as we were deemed to be the primary beneficiary .", "in connection with the winding up of its operations , globe re repaid its $ 100 million of short-term debt and our equity investment from available cash in 2009 .", "we recognized $ 2 million of after-tax income from globe re in 2009 , taking into account the share of net income attributable to non-controlling interests .", "globe re was fully liquidated in the third quarter of 2009 .", "review by segment general we serve clients through the following segments : 2022 risk solutions ( formerly risk and insurance brokerage services ) acts as an advisor and insurance and reinsurance broker , helping clients manage their risks , via consultation , as well as negotiation and placement of insurance risk with insurance carriers through our global distribution network .", "2022 hr solutions ( formerly consulting ) partners with organizations to solve their most complex benefits , talent and related financial challenges , and improve business performance by designing , implementing , communicating and administering a wide range of human capital , retirement , investment management , health care , compensation and talent management strategies .", "risk solutions ." ]

[ "juniperus and jchl had combined assets and liabilities of $ 121 million and $ 22 million , respectively , at december 31 , 2008 ." ]

[ [ "years ended december 31,", "2010", "2009", "2008" ], [ "revenue", "$ 6423", "$ 6305", "$ 6197" ], [ "operating income", "1194", "900", "846" ], [ "operating margin", "18.6% ( 18.6 % )", "14.3% ( 14.3 % )", "13.7% ( 13.7 % )" ] ]

[ "weighted average number of common shares and potential diluted securities 238920 201206 154553 criteria in fasb asc 360-20 related to the terms of the transactions and any continuing involvement in the form of management or financial assistance from the seller associated with the properties .", "we make judgments based on the specific terms of each transaction as to the amount of the total profit from the transaction that we recognize considering factors such as continuing ownership interest we may have with the buyer ( 201cpartial sales 201d ) and our level of future involvement with the property or the buyer that acquires the assets .", "if the full accrual sales criteria are not met , we defer gain recognition and account for the continued operations of the property by applying the finance , installment or cost recovery methods , as appropriate , until the full accrual sales criteria are met .", "estimated future costs to be incurred after completion of each sale are included in the determination of the gain on sales .", "to the extent that a property has had operations prior to sale , and that we do not have continuing involvement with the property , gains from sales of depreciated property are included in discontinued operations and the proceeds from the sale of these held-for-rental properties are classified in the investing activities section of the consolidated statements of cash flows .", "gains or losses from our sale of properties that were developed or repositioned with the intent to sell and not for long-term rental ( 201cbuild-for-sale 201d properties ) are classified as gain on sale of properties in the consolidated statements of operations .", "other rental properties that do not meet the criteria for presentation as discontinued operations are also classified as gain on sale of properties in the consolidated statements of operations .", "net income ( loss ) per common share basic net income ( loss ) per common share is computed by dividing net income ( loss ) attributable to common shareholders , less dividends on share- based awards expected to vest , by the weighted average number of common shares outstanding for the period .", "diluted net income ( loss ) per common share is computed by dividing the sum of basic net income ( loss ) attributable to common shareholders and the noncontrolling interest in earnings allocable to units not owned by us ( to the extent the units are dilutive ) , by the sum of the weighted average number of common shares outstanding and , to the extent they are dilutive , partnership units outstanding , as well as any potential dilutive securities for the period .", "during the first quarter of 2009 , we adopted a new accounting standard ( fasb asc 260-10 ) on participating securities , which we have applied retrospectively to prior period calculations of basic and diluted earnings per common share .", "pursuant to this new standard , certain of our share-based awards are considered participating securities because they earn dividend equivalents that are not forfeited even if the underlying award does not vest .", "the following table reconciles the components of basic and diluted net income ( loss ) per common share ( in thousands ) : ." ]

[ "54| | duke realty corporation annual report 2010 ." ]

[ "the basic net income ( loss ) attributable to common shareholders of 2010 is -16621 ( 16621 ) ; the basic net income ( loss ) attributable to common shareholders of 2009 is -335360 ( 335360 ) ; the basic net income ( loss ) attributable to common shareholders of 2008 is 48777 ;", "the diluted net income ( loss ) attributable to common shareholders of 2010 is $ -16621 ( 16621 ) ; the diluted net income ( loss ) attributable to common shareholders of 2009 is $ -335360 ( 335360 ) ; the diluted net income ( loss ) attributable to common shareholders of 2008 is $ 51417 ;" ]

[ [ "", "2010", "2009", "2008" ], [ "net income ( loss ) attributable to common shareholders", "$ -14108 ( 14108 )", "$ -333601 ( 333601 )", "$ 50408" ], [ "less : dividends on share-based awards expected to vest", "-2513 ( 2513 )", "-1759 ( 1759 )", "-1631 ( 1631 )" ], [ "basic net income ( loss ) attributable to common shareholders", "-16621 ( 16621 )", "-335360 ( 335360 )", "48777" ], [ "noncontrolling interest in earnings of common unitholders", "-", "-", "2640" ], [ "diluted net income ( loss ) attributable to common shareholders", "$ -16621 ( 16621 )", "$ -335360 ( 335360 )", "$ 51417" ], [ "weighted average number of common shares outstanding", "238920", "201206", "146915" ], [ "weighted average partnership units outstanding", "-", "-", "7619" ], [ "other potential dilutive shares", "-", "-", "19" ], [ "weighted average number of common shares and potential dilutive securities", "238920", "201206", "154553" ] ]

[ "the fuel recovery variance is due to the inclusion of grand gulf costs in fuel recoveries effective july 1 , 2006 .", "in june 2006 , the city council approved the recovery of grand gulf costs through the fuel adjustment clause , without a corresponding change in base rates ( a significant portion of grand gulf costs was previously recovered through base rates ) .", "the volume/weather variance is due to an increase in electricity usage in the service territory in 2007 compared to the same period in 2006 .", "the first quarter 2006 was affected by customer losses following hurricane katrina .", "entergy new orleans estimates that approximately 132000 electric customers and 86000 gas customers have returned and are taking service as of december 31 , 2007 , compared to approximately 95000 electric customers and 65000 gas customers as of december 31 , 2006 .", "billed retail electricity usage increased a total of 540 gwh compared to the same period in 2006 , an increase of 14% ( 14 % ) .", "the rider revenue variance is due primarily to a storm reserve rider effective march 2007 as a result of the city council's approval of a settlement agreement in october 2006 .", "the approved storm reserve has been set to collect $ 75 million over a ten-year period through the rider and the funds will be held in a restricted escrow account .", "the settlement agreement is discussed in note 2 to the financial statements .", "the net wholesale revenue variance is due to more energy available for resale in 2006 due to the decrease in retail usage caused by customer losses following hurricane katrina .", "in addition , 2006 revenue includes the sales into the wholesale market of entergy new orleans' share of the output of grand gulf , pursuant to city council approval of measures proposed by entergy new orleans to address the reduction in entergy new orleans' retail customer usage caused by hurricane katrina and to provide revenue support for the costs of entergy new orleans' share of grand other income statement variances 2008 compared to 2007 other operation and maintenance expenses decreased primarily due to : a provision for storm-related bad debts of $ 11 million recorded in 2007 ; a decrease of $ 6.2 million in legal and professional fees ; a decrease of $ 3.4 million in employee benefit expenses ; and a decrease of $ 1.9 million in gas operations spending due to higher labor and material costs for reliability work in 2007. ." ]

[ "entergy new orleans , inc .", "management's financial discussion and analysis 2007 compared to 2006 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges .", "following is an analysis of the change in net revenue comparing 2007 to 2006 .", "amount ( in millions ) ." ]

[ "the 2006 net revenue of amount ( in millions ) is $ 192.2 ;", "the fuel recovery of amount ( in millions ) is 42.6 ;", "the 2007 net revenue of amount ( in millions ) is $ 231.0 ;" ]

[ [ "", "amount ( in millions )" ], [ "2006 net revenue", "$ 192.2" ], [ "fuel recovery", "42.6" ], [ "volume/weather", "25.6" ], [ "rider revenue", "8.5" ], [ "net wholesale revenue", "-41.2 ( 41.2 )" ], [ "other", "3.3" ], [ "2007 net revenue", "$ 231.0" ] ]

[ "( 1 ) in exchange for employees 2019 contributions to the successful reorganization , including agreeing to reductions in pay and benefits , american agreed in the plan to provide each employee group a deemed claim , which was used to provide a distribution of a portion of the equity of the reorganized entity to those employees .", "each employee group received a deemed claim amount based upon a portion of the value of cost savings provided by that group through reductions to pay and benefits as well as through certain work rule changes .", "the total value of this deemed claim was approximately $ 1.7 billion .", "( 2 ) amounts include allowed claims ( claims approved by the bankruptcy court ) and estimated allowed claims relating to ( i ) the rejection or modification of financings related to aircraft and ( ii ) entry of orders treated as unsecured claims with respect to facility agreements supporting certain issuances of special facility revenue bonds .", "the debtors recorded an estimated claim associated with the rejection or modification of a financing or facility agreement when the applicable motion was filed with the bankruptcy court to reject or modify ." ]

[ "table of contents interest expense , net of capitalized interest decreased $ 129 million , or 18.1% ( 18.1 % ) , in 2014 from the 2013 period primarily due to a $ 63 million decrease in special charges recognized period-over-period as further described below , as well as refinancing activities that resulted in $ 65 million less interest expense recognized in 2014 .", "in 2014 , american recognized $ 29 million of special charges relating to non-cash interest accretion on bankruptcy settlement obligations .", "in 2013 , american recognized $ 48 million of special charges relating to post-petition interest expense on unsecured obligations pursuant to the plan and penalty interest related to american 2019s 10.5% ( 10.5 % ) secured notes and 7.50% ( 7.50 % ) senior secured notes .", "in addition , in 2013 american recorded special charges of $ 44 million for debt extinguishment costs incurred as a result of the repayment of certain aircraft secured indebtedness , including cash interest charges and non-cash write offs of unamortized debt issuance costs .", "as a result of the 2013 refinancing activities and the early extinguishment of american 2019s 7.50% ( 7.50 % ) senior secured notes in 2014 , american recognized $ 65 million less interest expense in 2014 as compared to the 2013 period .", "other nonoperating expense , net of $ 153 million in 2014 consisted principally of net foreign currency losses of $ 92 million and early debt extinguishment charges of $ 48 million .", "other nonoperating expense , net of $ 84 million in 2013 consisted principally of net foreign currency losses of $ 55 million and early debt extinguishment charges of $ 29 million .", "other nonoperating expense , net increased $ 69 million , or 81.0% ( 81.0 % ) , during 2014 primarily due to special charges recognized as a result of early debt extinguishment and an increase in foreign currency losses driven by the strengthening of the u.s .", "dollar in foreign currency transactions , principally in latin american markets .", "american recorded a $ 43 million special charge for venezuelan foreign currency losses in 2014 .", "see part ii , item 7a .", "quantitative and qualitative disclosures about market risk for further discussion of our cash held in venezuelan bolivars .", "in addition , american 2019s nonoperating special items included $ 48 million in special charges in the 2014 primarily related to the early extinguishment of american 2019s 7.50% ( 7.50 % ) senior secured notes and other indebtedness .", "reorganization items , net reorganization items refer to revenues , expenses ( including professional fees ) , realized gains and losses and provisions for losses that are realized or incurred as a direct result of the chapter 11 cases .", "the following table summarizes the components included in reorganization items , net on american 2019s consolidated statement of operations for the year ended december 31 , 2013 ( in millions ) : ." ]

[ "the professional fees of 2013 is 199 ;", "the total reorganization items net of 2013 is $ 2640 ;" ]

[ [ "", "2013" ], [ "labor-related deemed claim ( 1 )", "$ 1733" ], [ "aircraft and facility financing renegotiations and rejections ( 2 ) ( 3 )", "320" ], [ "fair value of conversion discount ( 4 )", "218" ], [ "professional fees", "199" ], [ "other", "170" ], [ "total reorganization items net", "$ 2640" ] ]

[ "our average daily var decreased to $ 54 million in 2017 from $ 63 million in 2016 , due to reductions across all risk categories , partially offset by a decrease in the diversification effect .", "the overall decrease was primarily due to lower levels of volatility .", "our average daily var decreased to $ 63 million in 2016 from $ 76 million in 2015 , due to reductions across all risk categories , partially offset by a decrease in the diversification effect .", "the overall decrease was primarily due to reduced exposures .", "goldman sachs 2017 form 10-k 91 ." ]

[ "the goldman sachs group , inc .", "and subsidiaries management 2019s discussion and analysis the risk committee of the board and the risk governance committee ( through delegated authority from the firmwide risk committee ) approve market risk limits and sub-limits at firmwide , business and product levels , consistent with our risk appetite statement .", "in addition , market risk management ( through delegated authority from the risk governance committee ) sets market risk limits and sub-limits at certain product and desk levels .", "the purpose of the firmwide limits is to assist senior management in controlling our overall risk profile .", "sub-limits are set below the approved level of risk limits .", "sub-limits set the desired maximum amount of exposure that may be managed by any particular business on a day-to-day basis without additional levels of senior management approval , effectively leaving day-to-day decisions to individual desk managers and traders .", "accordingly , sub-limits are a management tool designed to ensure appropriate escalation rather than to establish maximum risk tolerance .", "sub-limits also distribute risk among various businesses in a manner that is consistent with their level of activity and client demand , taking into account the relative performance of each area .", "our market risk limits are monitored daily by market risk management , which is responsible for identifying and escalating , on a timely basis , instances where limits have been exceeded .", "when a risk limit has been exceeded ( e.g. , due to positional changes or changes in market conditions , such as increased volatilities or changes in correlations ) , it is escalated to senior managers in market risk management and/or the appropriate risk committee .", "such instances are remediated by an inventory reduction and/or a temporary or permanent increase to the risk limit .", "model review and validation our var and stress testing models are regularly reviewed by market risk management and enhanced in order to incorporate changes in the composition of positions included in our market risk measures , as well as variations in market conditions .", "prior to implementing significant changes to our assumptions and/or models , model risk management performs model validations .", "significant changes to our var and stress testing models are reviewed with our chief risk officer and chief financial officer , and approved by the firmwide risk committee .", "see 201cmodel risk management 201d for further information about the review and validation of these models .", "systems we have made a significant investment in technology to monitor market risk including : 2030 an independent calculation of var and stress measures ; 2030 risk measures calculated at individual position levels ; 2030 attribution of risk measures to individual risk factors of each position ; 2030 the ability to report many different views of the risk measures ( e.g. , by desk , business , product type or entity ) ; 2030 the ability to produce ad hoc analyses in a timely manner .", "metrics we analyze var at the firmwide level and a variety of more detailed levels , including by risk category , business , and region .", "the tables below present average daily var and period-end var , as well as the high and low var for the period .", "diversification effect in the tables below represents the difference between total var and the sum of the vars for the four risk categories .", "this effect arises because the four market risk categories are not perfectly correlated .", "the table below presents average daily var by risk category. ." ]

[ "$ in millions the interest rates of year ended december 2017 is $ 40 ; the interest rates of year ended december 2016 is $ 45 ; the interest rates of year ended december 2015 is $ 47 ;", "$ in millions the equity prices of year ended december 2017 is 24 ; the equity prices of year ended december 2016 is 25 ; the equity prices of year ended december 2015 is 26 ;" ]

[ [ "$ in millions", "year ended december 2017", "year ended december 2016", "year ended december 2015" ], [ "interest rates", "$ 40", "$ 45", "$ 47" ], [ "equity prices", "24", "25", "26" ], [ "currency rates", "12", "21", "30" ], [ "commodity prices", "13", "17", "20" ], [ "diversification effect", "-35 ( 35 )", "-45 ( 45 )", "-47 ( 47 )" ], [ "total", "$ 54", "$ 63", "$ 76" ] ]

[ "as of december 31 , 2018 , we primarily leased : 2022 approximately 64000 macro towers and 21000 distributed antenna system and small cell sites .", "2022 approximately 2200 t-mobile and metro by t-mobile retail locations , including stores and kiosks ranging in size from approximately 100 square feet to 17000 square feet .", "2022 office space totaling approximately 1000000 square feet for our corporate headquarters in bellevue , washington .", "in january 2019 , we executed leases totaling approximately 170000 additional square feet for our corporate headquarters .", "we use these offices for engineering and administrative purposes .", "2022 office space throughout the u.s. , totaling approximately 1700000 square feet , for use by our regional offices primarily for administrative , engineering and sales purposes. ." ]

[ "in particular , we have received commitments for $ 30.0 billion in debt financing to fund the transactions which is comprised of ( i ) a $ 4.0 billion secured revolving credit facility , ( ii ) a $ 7.0 billion term loan credit facility and ( iii ) a $ 19.0 billion secured bridge loan facility .", "our reliance on the financing from the $ 19.0 billion secured bridge loan facility commitment is intended to be reduced through one or more secured note offerings or other long-term financings prior to the merger closing .", "however , there can be no assurance that we will be able to issue any such secured notes or other long-term financings on terms we find acceptable or at all , especially in light of the recent debt market volatility , in which case we may have to exercise some or all of the commitments under the secured bridge facility to fund the transactions .", "accordingly , the costs of financing for the transactions may be higher than expected .", "credit rating downgrades could adversely affect the businesses , cash flows , financial condition and operating results of t-mobile and , following the transactions , the combined company .", "credit ratings impact the cost and availability of future borrowings , and , as a result , cost of capital .", "our current ratings reflect each rating agency 2019s opinion of our financial strength , operating performance and ability to meet our debt obligations or , following the completion of the transactions , obligations to the combined company 2019s obligors .", "each rating agency reviews these ratings periodically and there can be no assurance that such ratings will be maintained in the future .", "a downgrade in the rating of us and/or sprint could adversely affect the businesses , cash flows , financial condition and operating results of t- mobile and , following the transactions , the combined company .", "we have incurred , and will incur , direct and indirect costs as a result of the transactions .", "we have incurred , and will incur , substantial expenses in connection with and as a result of completing the transactions , and over a period of time following the completion of the transactions , the combined company also expects to incur substantial expenses in connection with integrating and coordinating our and sprint 2019s businesses , operations , policies and procedures .", "a portion of the transaction costs related to the transactions will be incurred regardless of whether the transactions are completed .", "while we have assumed that a certain level of transaction expenses will be incurred , factors beyond our control could affect the total amount or the timing of these expenses .", "many of the expenses that will be incurred , by their nature , are difficult to estimate accurately .", "these expenses will exceed the costs historically borne by us .", "these costs could adversely affect our financial condition and results of operations prior to the transactions and the financial condition and results of operations of the combined company following the transactions .", "item 1b .", "unresolved staff comments item 2 .", "properties as of december 31 , 2018 , our significant properties that we primarily lease and use in connection with switching centers , data centers , call centers and warehouses were as follows: ." ]

[ "the call center of approximate number is 17 ; the call center of approximate size in square feet is 1300000 ;", "the warehouses of approximate number is 21 ; the warehouses of approximate size in square feet is 500000 ;" ]

[ [ "", "approximate number", "approximate size in square feet" ], [ "switching centers", "61", "1300000" ], [ "data centers", "6", "500000" ], [ "call center", "17", "1300000" ], [ "warehouses", "21", "500000" ] ]

[ "2013 compared to 2012 mfc 2019s net sales for 2013 increased $ 300 million , or 4% ( 4 % ) , compared to 2012 .", "the increase was primarily attributable to higher net sales of approximately $ 450 million for air and missile defense programs ( thaad and pac-3 ) due to increased production volume and deliveries ; about $ 70 million for fire control programs due to net increased deliveries and volume ; and approximately $ 55 million for tactical missile programs due to net increased deliveries .", "the increases were partially offset by lower net sales of about $ 275 million for various technical services programs due to lower volume driven by the continuing impact of defense budget reductions and related competitive pressures .", "the increase for fire control programs was primarily attributable to increased deliveries on the sniper ae and lantirn ae programs , increased volume on the sof clss program , partially offset by lower volume on longbow fire control radar and other programs .", "the increase for tactical missile programs was primarily attributable to increased deliveries on jassm and other programs , partially offset by fewer deliveries on the guided multiple launch rocket system and javelin programs. ." ]

[ "warfighter information network-tactical ( win-t ) ; command , control , battle management and communications ( c2bmc ) ; and twic ) .", "partially offsetting the decreases were higher net sales of approximately $ 140 million from qtc , which was acquired early in the fourth quarter of 2011 ; and about $ 65 million from increased activity on numerous other programs , primarily federal cyber security programs and ptds operational support .", "is&gs 2019 operating profit for 2012 decreased $ 66 million , or 8% ( 8 % ) , compared to 2011 .", "the decrease was attributable to lower operating profit of approximately $ 50 million due to the favorable impact of the odin contract completion in 2011 ; about $ 25 million due to an increase in reserves for performance issues related to an international airborne surveillance system in 2012 ; and approximately $ 20 million due to lower volume on certain programs ( primarily c2bmc and win-t ) .", "partially offsetting the decreases was an increase in operating profit due to higher risk retirements of approximately $ 15 million from the twic program ; and about $ 10 million due to increased activity on numerous other programs , primarily federal cyber security programs and ptds operational support .", "operating profit for the jtrs program was comparable as a decrease in volume was offset by a decrease in reserves .", "adjustments not related to volume , including net profit booking rate adjustments and other matters described above , were approximately $ 20 million higher for 2012 compared to 2011 .", "backlog backlog decreased in 2013 compared to 2012 primarily due to lower orders on several programs ( such as eram and ngi ) , higher sales on certain programs ( the national science foundation antarctic support and the disa gsm-o ) , and declining activities on several smaller programs primarily due to the continued downturn in federal information technology budgets .", "backlog decreased in 2012 compared to 2011 primarily due to the substantial completion of various programs in 2011 ( primarily odin , u.k .", "census , and jtrs ) .", "trends we expect is&gs 2019 net sales to decline in 2014 in the high single digit percentage range as compared to 2013 primarily due to the continued downturn in federal information technology budgets .", "operating profit is also expected to decline in 2014 in the high single digit percentage range consistent with the expected decline in net sales , resulting in margins that are comparable with 2013 results .", "missiles and fire control our mfc business segment provides air and missile defense systems ; tactical missiles and air-to-ground precision strike weapon systems ; logistics and other technical services ; fire control systems ; mission operations support , readiness , engineering support , and integration services ; and manned and unmanned ground vehicles .", "mfc 2019s major programs include pac-3 , thaad , multiple launch rocket system , hellfire , joint air-to-surface standoff missile ( jassm ) , javelin , apache fire control system ( apache ) , sniper ae , low altitude navigation and targeting infrared for night ( lantirn ae ) , and sof clss .", "mfc 2019s operating results included the following ( in millions ) : ." ]

[ "the backlog at year-end of 2013 is 15000 ; the backlog at year-end of 2012 is 14700 ; the backlog at year-end of 2011 is 14400 ;" ]

[ [ "", "2013", "2012", "2011" ], [ "net sales", "$ 7757", "$ 7457", "$ 7463" ], [ "operating profit", "1431", "1256", "1069" ], [ "operating margins", "18.4% ( 18.4 % )", "16.8% ( 16.8 % )", "14.3% ( 14.3 % )" ], [ "backlog at year-end", "15000", "14700", "14400" ] ]

[ "( a ) includes $ 6.6 million paid in 2005 in connection with the redemption of the company 2019s senior and senior subordinated notes. ." ]

[ "page 59 of 94 notes to consolidated financial statements ball corporation and subsidiaries 13 .", "debt and interest costs ( continued ) long-term debt obligations outstanding at december 31 , 2007 , have maturities of $ 127.1 million , $ 160 million , $ 388.4 million , $ 625.1 million and $ 550.3 million for the years ending december 31 , 2008 through 2012 , respectively , and $ 456.1 million thereafter .", "ball provides letters of credit in the ordinary course of business to secure liabilities recorded in connection with industrial development revenue bonds and certain self-insurance arrangements .", "letters of credit outstanding at december 31 , 2007 and 2006 , were $ 41 million and $ 52.4 million , respectively .", "the notes payable and senior credit facilities are guaranteed on a full , unconditional and joint and several basis by certain of the company 2019s domestic wholly owned subsidiaries .", "certain foreign denominated tranches of the senior credit facilities are similarly guaranteed by certain of the company 2019s wholly owned foreign subsidiaries .", "note 22 contains further details as well as condensed , consolidating financial information for the company , segregating the guarantor subsidiaries and non-guarantor subsidiaries .", "the company was not in default of any loan agreement at december 31 , 2007 , and has met all debt payment obligations .", "the u.s .", "note agreements , bank credit agreement and industrial development revenue bond agreements contain certain restrictions relating to dividend payments , share repurchases , investments , financial ratios , guarantees and the incurrence of additional indebtedness .", "on march 27 , 2006 , ball expanded its senior secured credit facilities with the addition of a $ 500 million term d loan facility due in installments through october 2011 .", "also on march 27 , 2006 , ball issued at a price of 99.799 percent $ 450 million of 6.625% ( 6.625 % ) senior notes ( effective yield to maturity of 6.65 percent ) due in march 2018 .", "the proceeds from these financings were used to refinance existing u.s .", "can debt with ball corporation debt at lower interest rates , acquire certain north american plastic container net assets from alcan and reduce seasonal working capital debt .", "( see note 3 for further details of the acquisitions. ) on october 13 , 2005 , ball refinanced its senior secured credit facilities to extend debt maturities at lower interest rate spreads and provide the company with additional borrowing capacity for future growth .", "during the third and fourth quarters of 2005 , ball redeemed its 7.75% ( 7.75 % ) senior notes due in august 2006 .", "the refinancing and senior note redemptions resulted in a debt refinancing charge of $ 19.3 million ( $ 12.3 million after tax ) for the related call premium and unamortized debt issuance costs .", "a summary of total interest cost paid and accrued follows: ." ]

[ "( $ in millions ) the interest expense of 2007 is $ 149.4 ; the interest expense of 2006 is $ 134.4 ; the interest expense of 2005 is $ 116.4 ;" ]

[ [ "( $ in millions )", "2007", "2006", "2005" ], [ "interest costs before refinancing costs", "$ 155.8", "$ 142.5", "$ 102.4" ], [ "debt refinancing costs", "2013", "2013", "19.3" ], [ "total interest costs", "155.8", "142.5", "121.7" ], [ "amounts capitalized", "-6.4 ( 6.4 )", "-8.1 ( 8.1 )", "-5.3 ( 5.3 )" ], [ "interest expense", "$ 149.4", "$ 134.4", "$ 116.4" ], [ "interest paid during the year ( a )", "$ 153.9", "$ 125.4", "$ 138.5" ] ]

[ "as of december 31 , 2010 and 2009 , the aggregate redemption value of redeemable class a units was $ 1066974000 and $ 971628000 , respectively .", "redeemable noncontrolling interests exclude our series g convertible preferred units and series d-13 cumulative redeemable preferred units , as they are accounted for as liabilities in accordance with asc 480 , distinguishing liabilities and equity , because of their possible settlement by issuing a variable number of vornado common shares .", "accordingly the fair value of these units is included as a component of 201cother liabilities 201d on our consolidated balance sheets and aggregated $ 55097000 and $ 60271000 as of december 31 , 2010 and 2009 , respectively. ." ]

[ "vornado realty trust notes to consolidated financial statements ( continued ) 10 .", "redeemable noncontrolling interests - continued redeemable noncontrolling interests on our consolidated balance sheets are recorded at the greater of their carrying amount or redemption value at the end of each reporting period .", "changes in the value from period to period are charged to 201cadditional capital 201d in our consolidated statements of changes in equity .", "below is a table summarizing the activity of redeemable noncontrolling interests .", "( amounts in thousands ) ." ]

[ "balance at december 31 2008 the balance at december 31 2009 of $ 1177978 is $ 1251628 ;" ]

[ [ "balance at december 31 2008", "$ 1177978" ], [ "net income", "25120" ], [ "distributions", "-42451 ( 42451 )" ], [ "conversion of class a units into common shares at redemption value", "-90955 ( 90955 )" ], [ "adjustment to carry redeemable class a units at redemption value", "167049" ], [ "other net", "14887" ], [ "balance at december 31 2009", "$ 1251628" ], [ "net income", "55228" ], [ "distributions", "-53515 ( 53515 )" ], [ "conversion of class a units into common shares at redemption value", "-126764 ( 126764 )" ], [ "adjustment to carry redeemable class a units at redemption value", "191826" ], [ "redemption of series d-12 redeemable units", "-13000 ( 13000 )" ], [ "other net", "22571" ], [ "balance at december 31 2010", "$ 1327974" ] ]

[ "." ]

[ "management 2019s discussion and analysis of financial conditionand results of operations d u k e r e a l t y c o r p o r a t i o n 1 1 2 0 0 2 a n n u a l r e p o r t 2022 interest expense on the company 2019s secured debt decreased from $ 30.8 million in 2001 to $ 22.9 million in 2002 as the company paid off $ 13.5 million of secured debt throughout 2002 and experienced lower borrowings on its secured line of credit during 2002 compared to 2001 .", "additionally , the company paid off approximately $ 128.5 million of secured debt throughout 2001 .", "2022 interest expense on the company 2019s $ 500 million unsecured line of credit decreased by approximately $ 1.1 million in 2002 compared to 2001 as the company maintained lower balances on the line throughout most of 2002 .", "as a result of the above-mentioned items , earnings from rental operations decreased $ 35.0 million from $ 254.1 million for the year ended december 31 , 2001 , to $ 219.1 million for the year ended december 31 , 2002 .", "service operations service operations primarily consist of leasing , management , construction and development services for joint venture properties and properties owned by third parties .", "service operations revenues decreased from $ 80.5 million for the year ended december 31 , 2001 , to $ 68.6 million for the year ended december 31 , 2002 .", "the prolonged effect of the slow economy has been the primary factor in the overall decrease in revenues .", "the company experienced a decrease of $ 12.7 million in net general contractor revenues because of a decrease in the volume of construction in 2002 , compared to 2001 , as well as slightly lower profit margins .", "property management , maintenance and leasing fee revenues decreased from $ 22.8 million in 2001 to $ 14.3 million in 2002 primarily because of a decrease in landscaping maintenance revenue resulting from the sale of the landscaping operations in the third quarter of 2001 .", "construction management and development activity income represents construction and development fees earned on projects where the company acts as the construction manager along with profits from the company 2019s held for sale program whereby the company develops a property for sale upon completion .", "the increase in revenues of $ 10.3 million in 2002 is primarily due to an increase in volume of the sale of properties from the held for sale program .", "service operations expenses decreased from $ 45.3 million in 2001 to $ 38.3 million in 2002 .", "the decrease is attributable to the decrease in construction and development activity and the reduced overhead costs as a result of the sale of the landscape business in 2001 .", "as a result of the above , earnings from service operations decreased from $ 35.1 million for the year ended december 31 , 2001 , to $ 30.3 million for the year ended december 31 , 2002 .", "general and administrative expense general and administrative expense increased from $ 15.6 million in 2001 to $ 25.4 million for the year ended december 31 , 2002 .", "the company has been successful reducing total operating and administration costs ; however , reduced construction and development activities have resulted in a greater amount of overhead being charged to general and administrative expense instead of being capitalized into development projects or charged to service operations .", "other income and expenses gain on sale of land and depreciable property dispositions , net of impairment adjustment , is comprised of the following amounts in 2002 and 2001 : gain on sales of depreciable properties represent sales of previously held for investment rental properties .", "beginning in 2000 and continuing into 2001 , the company pursued favorable opportunities to dispose of real estate assets that no longer met long-term investment objectives .", "in 2002 , the company significantly reduced this property sales program until the business climate improves and provides better investment opportunities for the sale proceeds .", "gain on land sales represents sales of undeveloped land owned by the company .", "the company pursues opportunities to dispose of land in markets with a high concentration of undeveloped land and those markets where the land no longer meets strategic development plans of the company .", "the company recorded a $ 9.4 million adjustment in 2002 associated with six properties determined to have an impairment of book value .", "the company has analyzed each of its in-service properties and has determined that there are no additional valuation adjustments that need to be made as of december 31 , 2002 .", "the company recorded an adjustment of $ 4.8 million in 2001 for one property that the company had contracted to sell for a price less than its book value .", "other revenue for the year ended december 31 , 2002 , includes $ 1.4 million of gain related to an interest rate swap that did not qualify for hedge accounting. ." ]

[ "the impairment adjustment of 2002 is -9379 ( 9379 ) ; the impairment adjustment of 2001 is -4800 ( 4800 ) ;" ]

[ [ "", "2002", "2001" ], [ "gain on sales of depreciable properties", "$ 4491", "$ 45428" ], [ "gain on land sales", "4478", "5080" ], [ "impairment adjustment", "-9379 ( 9379 )", "-4800 ( 4800 )" ], [ "total", "$ -410 ( 410 )", "$ 45708" ] ]

[ "." ]

[ "s c h e d u l e i v ( continued ) ace limited and subsidiaries s u p p l e m e n t a l i n f o r m a t i o n c o n c e r n i n g r e i n s u r a n c e premiums earned for the years ended december 31 , 2008 , 2007 , and 2006 ( in millions of u.s .", "dollars ) direct amount ceded to companies assumed from other companies net amount percentage of amount assumed to ." ]

[ "for the years ended december 31 2008 2007 and 2006 ( in millions of u.s . dollars ) the 2008 of direct amount is $ 16087 ; the 2008 of ceded to other companies is $ 6144 ; the 2008 of assumed from other companies is $ 3260 ; the 2008 of net amount is $ 13203 ; the 2008 of percentage of amount assumed to net is 25% ( 25 % ) ;" ]

[ [ "for the years ended december 31 2008 2007 and 2006 ( in millions of u.s . dollars )", "direct amount", "ceded to other companies", "assumed from other companies", "net amount", "percentage of amount assumed to net" ], [ "2008", "$ 16087", "$ 6144", "$ 3260", "$ 13203", "25% ( 25 % )" ], [ "2007", "$ 14673", "$ 5834", "$ 3458", "$ 12297", "28% ( 28 % )" ], [ "2006", "$ 13562", "$ 5198", "$ 3461", "$ 11825", "29% ( 29 % )" ] ]

[ "as of december 31 , 2007 , there was $ 15.3 million of total unrecognized compensation cost related to non-vested awards .", "this cost is expected to be recognized over a weighted-average period of 1.6 years .", "the total fair value of restricted shares and restricted stock units vested was $ 11.0 million , $ 7.5 million and $ 4.1 million for the years ended december 31 , 2007 , 2006 and 2005 , respectively .", "employee stock purchase plan the shareholders of the company previously approved the 2002 employee stock purchase plan ( 201c2002 purchase plan 201d ) , and reserved 5000000 shares of common stock for sale to employees at a price no less than 85% ( 85 % ) of the lower of the fair market value of the common stock at the beginning of the one-year offering period or the end of each of the six-month purchase periods .", "under sfas no .", "123 ( r ) , the 2002 purchase plan was considered compensatory .", "effective august 1 , 2005 , the company changed the terms of its purchase plan to reduce the discount to 5% ( 5 % ) and discontinued the look-back provision .", "as a result , the purchase plan was not compensatory beginning august 1 , 2005 .", "for the year ended december 31 , 2005 , the company recorded $ 0.4 million in compensation expense for its employee stock purchase plan for the period in which the 2002 plan was considered compensatory until the terms were changed august 1 , 2005 .", "at december 31 , 2007 , 757123 shares were available for purchase under the 2002 purchase plan .", "401 ( k ) plan the company has a 401 ( k ) salary deferral program for eligible employees who have met certain service requirements .", "the company matches certain employee contributions ; additional contributions to this plan are at the discretion of the company .", "total contribution expense under this plan was $ 5.7 million , $ 5.7 million and $ 5.2 million for the years ended december 31 , 2007 , 2006 and 2005 , respectively. ." ]

[ "prior to its adoption of sfas no .", "123 ( r ) , the company recorded compensation expense for restricted stock awards on a straight-line basis over their vesting period .", "if an employee forfeited the award prior to vesting , the company reversed out the previously expensed amounts in the period of forfeiture .", "as required upon adoption of sfas no .", "123 ( r ) , the company must base its accruals of compensation expense on the estimated number of awards for which the requisite service period is expected to be rendered .", "actual forfeitures are no longer recorded in the period of forfeiture .", "in 2005 , the company recorded a pre-tax credit of $ 2.8 million in cumulative effect of accounting change , that represents the amount by which compensation expense would have been reduced in periods prior to adoption of sfas no .", "123 ( r ) for restricted stock awards outstanding on july 1 , 2005 that are anticipated to be forfeited .", "a summary of non-vested restricted stock award and restricted stock unit activity is presented below : shares ( in thousands ) weighted- average date fair ." ]

[ "total contribution expense under this plan was $ 5.7 million , $ 5.7 million and $ 5.2 million for the years ended december 31 , 2007 , 2006 and 2005 , respectively. ." ]

[ [ "", "shares ( in thousands )", "weighted- average grant date fair value" ], [ "non-vested at december 31 2006:", "2878", "$ 13.01" ], [ "issued", "830", "$ 22.85" ], [ "released ( vested )", "-514 ( 514 )", "$ 15.93" ], [ "canceled", "-1197 ( 1197 )", "$ 13.75" ], [ "non-vested at december 31 2007:", "1997", "$ 15.91" ] ]

[ "the company estimates future forfeitures at the time of grant and revises those estimates in subsequent periods if actual forfeitures differ from those estimates .", "the company bases the risk-free interest rate that is used in the stock option valuation model on u.s .", "n treasury securities issued with maturities similar to the expected term of the options .", "the expected stock volatility factor is determined using historical daily price changes of the company's common stock over the most recent period commensurate with the expected term of the option and the impact of any expected trends .", "the dividend yield assumption is based on the current dividend yield at the grant tt date or management's forecasted expectations .", "the expected life assumption is determined by calculating the average term from the tt company's historical stock option activity and considering the impact of expected future trends .", "the company granted a total of 1 million restricted stock shares at prices ranging from $ 56.44 to $ 79.41 on various dates in 2016 .", "the company granted a total of 1 million restricted stock shares at prices ranging from $ 61.33 to $ 69.33 on various dates in 20t 15 .", "the company granted a total of 1 million restricted stock shares at prices ranging from $ 52.85 to $ 64.04 on various dates in 2014 .", "these shares were granted at the closing market price on the date of grant and vest annually over three years .", "as of december 31 , 2016 and 2015 , we have approximately 3 million and 4 million unvested restricted shares remaining .", "the december 31 , 2016 balance includes those rsu's converted in connection with the sungard acquisition as noted above .", "the company has provided for total stock compensation expense of $ 137 million , $ 98 million and $ 56 million for the years ended december 31 , 2016 , 2015 and 2014 , respectively , which is included in selling , general , and administrative expense in the consolidated statements of earnings , unless the expense is attributable to a discontinued operation .", "of the total stock compensation expense , $ 2 million for 2014 relates to liability based awards that will not be credited to additional paid in capital until issued .", "total d compensation expense for 2016 and 2015 did not include amounts relating to liability based awards .", "as of december 31 , 2016 and 2015 , the total unrecognized compensation cost related to non-vested stock awards is $ 141 million and $ 206 million , respectively , which is expected to be recognized in pre-tax income over a weighted average period of 1.4 years and 1.6 years , respectively .", "german pension plans our german operations have unfunded , defined benefit plan obligations .", "these obligations relate to benefits to be paid to germanaa employees upon retirement .", "the accumulated benefit obligation as of december 31 , 2016 and 2015 , was $ 49 million and $ 48 million , respectively , and the projected benefit obligation was $ 50 million and $ 49 million , respectively .", "the plan remains unfunded as of december 31 , 2016 .", "( 15 ) divestitures and discontinued operations on december 7 , 2016 , the company entered into a definitive agreement to sell the sungard public sector and education ( \"ps&e\" ) businesses for $ 850 million .", "the transaction included all ps&e solutions , which provide a comprehensive set of technology solutions to address public safety and public administration needs of government entities as well asn the needs of k-12 school districts .", "the divestiture is consistent with our strategy to serve the financial services markets .", "we received cash proceeds , net of taxes and transaction-related expenses of approximately $ 500 million .", "net cash proceeds are expected to be used to reduce outstanding debt ( see note 10 ) .", "the ps&e businesses are included in the corporate and other segment .", "the transaction closed on february 1 , 2017 , resulting in an expected pre-tax gain ranging from $ 85 million to $ 90 million that will ." ]

[ "fidelity national information services , inc .", "and subsidiaries notes to consolidated financial statements - ( continued ) ( a ) intrinsic value is based on a closing stock price as of december 31 , 2016 of $ 75.64 .", "the weighted average fair value of options granted during the years ended december 31 , 2016 , 2015 and 2014 was estimated to be $ 9.35 , $ 10.67 and $ 9.15 , respectively , using the black-scholes option pricing model with the assumptions below: ." ]

[ "the accumulated benefit obligation as of december 31 , 2016 and 2015 , was $ 49 million and $ 48 million , respectively , and the projected benefit obligation was $ 50 million and $ 49 million , respectively ." ]

[ [ "", "2016", "2015", "2014" ], [ "risk free interest rate", "1.2% ( 1.2 % )", "1.4% ( 1.4 % )", "1.4% ( 1.4 % )" ], [ "volatility", "20.4% ( 20.4 % )", "21.7% ( 21.7 % )", "21.2% ( 21.2 % )" ], [ "dividend yield", "1.6% ( 1.6 % )", "1.6% ( 1.6 % )", "1.6% ( 1.6 % )" ], [ "weighted average expected life ( years )", "4.2", "4.2", "4.2" ] ]

[ "( a ) in asia-pacific , our products are primarily distributed through concessions-based sales arrangements .", "in addition , american living and chaps-branded products distributed by our wholesale segment were sold domestically through approximately 1700 doors as of april 3 , 2010 .", "we have five key department-store customers that generate significant sales volume .", "for fiscal 2010 , these customers in the aggregate accounted for approximately 45% ( 45 % ) of all wholesale revenues , with macy 2019s , inc .", "representing approximately 18% ( 18 % ) of these revenues .", "our product brands are sold primarily through their own sales forces .", "our wholesale segment maintains its primary showrooms in new york city .", "in addition , we maintain regional showrooms in atlanta , chicago , dallas , milan , paris , london , munich , madrid and stockholm .", "shop-within-shops .", "as a critical element of our distribution to department stores , we and our licensing partners utilize shop- within-shops to enhance brand recognition , to permit more complete merchandising of our lines by the department stores and to differentiate the presentation of products .", "shop-within-shops fixed assets primarily include items such as customized freestanding fixtures , wall cases and components , decorative items and flooring .", "as of april 3 , 2010 , we had approximately 14000 shop-within-shops dedicated to our ralph lauren-branded wholesale products worldwide .", "excluding significantly larger shop-within-shops in key department store locations , the size of our shop-within-shops typically ranges from approximately 300 to 6000 square feet .", "we normally share in the cost of these shop-within-shops with our wholesale customers .", "basic stock replenishment program .", "basic products such as knit shirts , chino pants and oxford cloth shirts can be ordered at any time through our basic stock replenishment programs .", "we generally ship these products within three-to-five days of order receipt .", "our retail segment as of april 3 , 2010 , our retail segment consisted of 179 full-price retail stores and 171 factory stores worldwide , totaling approximately 2.6 million square feet , 281 concessions-based shop-within-shops and two e-commerce websites .", "the extension of our direct-to-consumer reach is a primary long-term strategic goal .", "full-price retail stores our full-price retail stores reinforce the luxury image and distinct sensibility of our brands and feature exclusive lines that are not sold in domestic department stores .", "we opened 3 new full-price stores and closed 3 full-price stores in fiscal 2010 .", "in addition , we assumed 16 full-price stores in connection with the asia-pacific ." ]

[ "table of contents worldwide distribution channels the following table presents the number of doors by geographic location , in which ralph lauren-branded products distributed by our wholesale segment were sold to consumers in our primary channels of distribution as of april 3 , 2010 : number of location doors ( a ) ." ]

[ "location the europe of number of doors ( a ) is 4421 ;", "location the total of number of doors ( a ) is 8940 ;" ]

[ [ "location", "number of doors ( a )" ], [ "united states and canada", "4402" ], [ "europe", "4421" ], [ "japan", "117" ], [ "total", "8940" ] ]

[ "the increase in total operating income was driven by the following : 2022 operating income in our north america operating segment decreased $ 52.5 million to $ 408.4 million in 2016 from $ 461.0 million in 2015 primarily due to decreases in gross margin discussed above in the consolidated results of operations and $ 17.0 million in expenses related to the liquidation of the sports authority , comprised of $ 15.2 million in bad debt expense and $ 1.8 million of in-store fixture impairment .", "in addition , this decrease reflects the movement of $ 11.1 million in expenses resulting from a strategic shift in headcount supporting our global business from our connected fitness operating segment to north america .", "this decrease is partially offset by the increases in revenue discussed above in the consolidated results of operations .", "2022 operating income in our emea operating segment increased $ 8.3 million to $ 11.4 million in 2016 from $ 3.1 million in 2015 primarily due to sales growth discussed above and reductions in incentive compensation .", "this increase was offset by investments in sports marketing and infrastructure for future growth .", "2022 operating income in our asia-pacific operating segment increased $ 31.9 million to $ 68.3 million in 2016 from $ 36.4 million in 2015 primarily due to sales growth discussed above and reductions in incentive compensation .", "this increase was offset by investments in our direct-to-consumer business and entry into new territories .", "2022 operating loss in our latin america operating segment increased $ 3.3 million to $ 33.9 million in 2016 from $ 30.6 million in 2015 primarily due to increased investments to support growth in the region and the economic challenges in brazil during the period .", "this increase in operating loss was offset by sales growth discussed above and reductions in incentive compensation .", "2022 operating loss in our connected fitness segment decreased $ 24.5 million to $ 36.8 million in 2016 from $ 61.3 million in 2015 primarily driven by sales growth discussed above .", "seasonality historically , we have recognized a majority of our net revenues and a significant portion of our income from operations in the last two quarters of the year , driven primarily by increased sales volume of our products during the fall selling season , including our higher priced cold weather products , along with a larger proportion of higher margin direct to consumer sales .", "the level of our working capital generally reflects the seasonality and growth in our business .", "we generally expect inventory , accounts payable and certain accrued expenses to be higher in the second and third quarters in preparation for the fall selling season. ." ]

[ "operating income ( loss ) by segment is summarized below: ." ]

[ "( in thousands ) the north america of year ended december 31 , 2016 is $ 408424 ; the north america of year ended december 31 , 2015 is $ 460961 ; the north america of year ended december 31 , $ change is $ -52537 ( 52537 ) ; the north america of year ended december 31 , % ( % ) change is ( 11.4 ) % ( % ) ;", "( in thousands ) the total operating income of year ended december 31 , 2016 is $ 417471 ; the total operating income of year ended december 31 , 2015 is $ 408547 ; the total operating income of year ended december 31 , $ change is $ 8924 ; the total operating income of year ended december 31 , % ( % ) change is 2.2% ( 2.2 % ) ;" ]

[ [ "( in thousands )", "year ended december 31 , 2016", "year ended december 31 , 2015", "year ended december 31 , $ change", "year ended december 31 , % ( % ) change" ], [ "north america", "$ 408424", "$ 460961", "$ -52537 ( 52537 )", "( 11.4 ) % ( % )" ], [ "emea", "11420", "3122", "8298", "265.8" ], [ "asia-pacific", "68338", "36358", "31980", "88.0" ], [ "latin america", "-33891 ( 33891 )", "-30593 ( 30593 )", "-3298 ( 3298 )", "10.8" ], [ "connected fitness", "-36820 ( 36820 )", "-61301 ( 61301 )", "24481", "39.9" ], [ "total operating income", "$ 417471", "$ 408547", "$ 8924", "2.2% ( 2.2 % )" ] ]

[ "we compute basic and diluted earnings per common share by dividing net earnings by the respective weighted average number of common shares outstanding for the periods presented .", "our calculation of diluted earnings per common share also includes the dilutive effects for the assumed vesting of outstanding restricted stock units and exercise of outstanding stock options based on the treasury stock method .", "there were no anti-dilutive equity awards for the years ended december 31 , 2016 , 2015 and 2014 .", "note 3 2013 acquisitions and divestitures acquisitions acquisition of sikorsky aircraft corporation on november 6 , 2015 , we completed the acquisition of sikorsky aircraft corporation and certain affiliated companies ( collectively 201csikorsky 201d ) from united technologies corporation ( utc ) and certain of utc 2019s subsidiaries .", "the purchase price of the acquisition was $ 9.0 billion , net of cash acquired .", "as a result of the acquisition , sikorsky became a wholly- owned subsidiary of ours .", "sikorsky is a global company primarily engaged in the research , design , development , manufacture and support of military and commercial helicopters .", "sikorsky 2019s products include military helicopters such as the black hawk , seahawk , ch-53k , h-92 ; and commercial helicopters such as the s-76 and s-92 .", "the acquisition enables us to extend our core business into the military and commercial rotary wing markets , allowing us to strengthen our position in the aerospace and defense industry .", "further , this acquisition will expand our presence in commercial and international markets .", "sikorsky has been aligned under our rms business segment .", "to fund the $ 9.0 billion acquisition price , we utilized $ 6.0 billion of proceeds borrowed under a temporary 364-day revolving credit facility ( the 364-day facility ) , $ 2.0 billion of cash on hand and $ 1.0 billion from the issuance of commercial paper .", "in the fourth quarter of 2015 , we repaid all outstanding borrowings under the 364-day facility with the proceeds from the issuance of $ 7.0 billion of fixed interest-rate long-term notes in a public offering ( the november 2015 notes ) .", "in the fourth quarter of 2015 , we also repaid the $ 1.0 billion in commercial paper borrowings ( see 201cnote 10 2013 debt 201d ) . ." ]

[ "benefits as an increase to earnings of $ 152 million ( $ 0.50 per share ) during the year ended december 31 , 2016 .", "additionally , we recognized additional income tax benefits as an increase to operating cash flows of $ 152 million during the year ended december 31 , 2016 .", "the new accounting standard did not impact any periods prior to january 1 , 2016 , as we applied the changes in the asu on a prospective basis .", "in september 2015 , the fasb issued asu no .", "2015-16 , business combinations ( topic 805 ) , which simplifies the accounting for adjustments made to preliminary amounts recognized in a business combination by eliminating the requirement to retrospectively account for those adjustments .", "instead , adjustments will be recognized in the period in which the adjustments are determined , including the effect on earnings of any amounts that would have been recorded in previous periods if the accounting had been completed at the acquisition date .", "we adopted the asu on january 1 , 2016 and are prospectively applying the asu to business combination adjustments identified after the date of adoption .", "in november 2015 , the fasb issued asu no .", "2015-17 , income taxes ( topic 740 ) , which simplifies the presentation of deferred income taxes and requires that deferred tax assets and liabilities , as well as any related valuation allowance , be classified as noncurrent in our consolidated balance sheets .", "we applied the provisions of the asu retrospectively and reclassified approximately $ 1.6 billion from current to noncurrent assets and approximately $ 140 million from current to noncurrent liabilities in our consolidated balance sheet as of december 31 , 2015 .", "note 2 2013 earnings per share the weighted average number of shares outstanding used to compute earnings per common share were as follows ( in millions ) : ." ]

[ "the weighted average common shares outstanding for basic computations of 2016 is 299.3 ; the weighted average common shares outstanding for basic computations of 2015 is 310.3 ; the weighted average common shares outstanding for basic computations of 2014 is 316.8 ;" ]

[ [ "", "2016", "2015", "2014" ], [ "weighted average common shares outstanding for basic computations", "299.3", "310.3", "316.8" ], [ "weighted average dilutive effect of equity awards", "3.8", "4.4", "5.6" ], [ "weighted average common shares outstanding for dilutedcomputations", "303.1", "314.7", "322.4" ] ]

[ "as of december 31 , 2010 , the liability for uncertain income tax positions was $ 2.7 million .", "due to the high degree of uncertainty regarding timing of potential future cash flows associated with these liabilities , we are unable to make a reasonably reliable estimate of the amount and period in which these liabilities might be paid .", "we utilize blanket purchase orders to communicate expected annual requirements to many of our suppliers .", "requirements under blanket purchase orders generally do not become committed until several weeks prior to the company 2019s scheduled unit production .", "the purchase obligation amount presented above represents the value of commitments considered firm .", "results of operations our sales from continuing operations in 2010 were $ 1489.3 million surpassing 2009 sales of $ 1375.0 million by 8.3 percent .", "the increase in sales was due mostly to significantly higher sales in our water heater operations in china resulting from geographic expansion , market share gains and new product introductions as well as additional sales from our water treatment business acquired in november , 2009 .", "our sales from continuing operations were $ 1451.3 million in 2008 .", "the $ 76.3 million decline in sales from 2008 to 2009 was due to lower residential and commercial volume in north america , reflecting softness in the domestic housing market and a slowdown in the commercial water heater business and was partially offset by strong growth in water heater sales in china and improved year over year pricing .", "on december 13 , 2010 we entered into a definitive agreement to sell our electrical products company to regal beloit corporation for $ 700 million in cash and approximately 2.83 million shares of regal beloit common stock .", "the transaction , which has been approved by both companies' board of directors , is expected to close in the first half of 2011 .", "due to the pending sale , our electrical products segment has been accorded discontinued operations treatment in the accompanying financial statements .", "sales in 2010 , including sales of $ 701.8 million for our electrical products segment , were $ 2191.1 million .", "our gross profit margin for continuing operations in 2010 was 29.9 percent , compared with 28.7 percent in 2009 and 25.8 percent in 2008 .", "the improvement in margin from 2009 to 2010 was due to increased volume , cost containment activities and lower warranty costs which more than offset certain inefficiencies resulting from the may flood in our ashland city , tn water heater manufacturing facility .", "the increase in profit margin from 2008 to 2009 resulted from increased higher margin china water heater volume , aggressive cost reduction programs and lower material costs .", "selling , general and administrative expense ( sg&a ) was $ 36.9 million higher in 2010 than in 2009 .", "the increased sg&a , the majority of which was incurred in our china water heater operation , was associated with selling costs to support higher volume and new product lines .", "additional sg&a associated with our 2009 water treatment acquisition also contributed to the increase .", "sg&a was $ 8.5 million higher in 2009 than 2008 resulting mostly from an $ 8.2 million increase in our china water heater operation in support of higher volumes. ." ]

[ "in december , our board of directors ratified its authorization of a stock repurchase program in the amount of 1.5 million shares of our common stock .", "as of december 31 , 2010 no shares had been repurchased .", "we have paid dividends for 71 consecutive years with payments increasing each of the last 19 years .", "we paid total dividends of $ .54 per share in 2010 compared with $ .51 per share in 2009 .", "aggregate contractual obligations a summary of our contractual obligations as of december 31 , 2010 , is as follows: ." ]

[ "( dollars in millions ) contractual obligations the purchase obligations of ( dollars in millions ) total is 45.5 ; the purchase obligations of ( dollars in millions ) less than1 year is 45.5 ; the purchase obligations of ( dollars in millions ) 1 - 3years is - ; the purchase obligations of ( dollars in millions ) 3 - 5years is - ; the purchase obligations of more than5 years is - ;", "( dollars in millions ) contractual obligations the total of ( dollars in millions ) total is $ 359.1 ; the total of ( dollars in millions ) less than1 year is $ 77.4 ; the total of ( dollars in millions ) 1 - 3years is $ 198.1 ; the total of ( dollars in millions ) 3 - 5years is $ 39.7 ; the total of more than5 years is $ 43.9 ;" ]

[ [ "( dollars in millions ) contractual obligations", "( dollars in millions ) total", "( dollars in millions ) less than1 year", "( dollars in millions ) 1 - 3years", "( dollars in millions ) 3 - 5years", "more than5 years" ], [ "long-term debt", "$ 261.0", "$ 18.6", "$ 181.2", "$ 29.2", "$ 32.0" ], [ "fixed rate interest", "22.4", "6.1", "9.0", "5.1", "2.2" ], [ "operating leases", "30.2", "7.2", "7.9", "5.4", "9.7" ], [ "purchase obligations", "45.5", "45.5", "-", "-", "-" ], [ "total", "$ 359.1", "$ 77.4", "$ 198.1", "$ 39.7", "$ 43.9" ] ]

[ "integrated financial solutions ( \"ifs\" ) the ifs segment is focused primarily on serving north american regional and community bank and savings institutions for transaction and account processing , payment solutions , channel solutions , digital channels , fraud , risk management and compliance solutions , lending and wealth and retirement solutions , and corporate liquidity , capitalizing on the continuing trend to outsource these solutions .", "clients in this segment include regional and community banks , credit unions and commercial lenders , as well as government institutions , merchants and other commercial organizations .", "these markets are primarily served through integrated solutions and characterized by multi-year processing contracts that generate highly recurring revenues .", "the predictable nature of cash flows generated from this segment provides opportunities for further investments in innovation , integration , information and security , and compliance in a cost-effective manner .", "our solutions in this segment include : 2022 core processing and ancillary applications .", "our core processing software applications are designed to run banking processes for our financial institution clients , including deposit and lending systems , customer management , and other central management systems , serving as the system of record for processed activity .", "our diverse selection of market- focused core systems enables fis to compete effectively in a wide range of markets .", "we also offer a number of services that are ancillary to the primary applications listed above , including branch automation , back-office support systems and compliance support .", "2022 digital solutions , including internet , mobile and ebanking .", "our comprehensive suite of retail delivery applications enables financial institutions to integrate and streamline customer-facing operations and back-office processes , thereby improving customer interaction across all channels ( e.g. , branch offices , internet , atm , mobile , call centers ) .", "fis' focus on consumer access has driven significant market innovation in this area , with multi-channel and multi-host solutions and a strategy that provides tight integration of services and a seamless customer experience .", "fis is a leader in mobile banking solutions and electronic banking enabling clients to manage banking and payments through the internet , mobile devices , accounting software and telephone .", "our corporate electronic banking solutions provide commercial treasury capabilities including cash management services and multi-bank collection and disbursement services that address the specialized needs of corporate clients .", "fis systems provide full accounting and reconciliation for such transactions , serving also as the system of record. ." ]

[ "2022 expand client relationships - the overall market we serve continues to gravitate beyond single-application purchases to multi-solution partnerships .", "as the market dynamics shift , we expect our clients and prospects to rely more on our multidimensional service offerings .", "our leveraged solutions and processing expertise can produce meaningful value and cost savings for our clients through more efficient operating processes , improved service quality and convenience for our clients' customers .", "2022 build global diversification - we continue to deploy resources in global markets where we expect to achieve meaningful scale .", "revenues by segment the table below summarizes our revenues by reporting segment ( in millions ) : ." ]

[ "the gfs of 2017 is 4138 ; the gfs of 2016 is 4250 ; the gfs of 2015 is 2361 ;", "the total consolidated revenues of 2017 is $ 9123 ; the total consolidated revenues of 2016 is $ 9241 ; the total consolidated revenues of 2015 is $ 6596 ;" ]

[ [ "", "2017", "2016", "2015" ], [ "ifs", "$ 4630", "$ 4525", "$ 3809" ], [ "gfs", "4138", "4250", "2361" ], [ "corporate and other", "355", "466", "426" ], [ "total consolidated revenues", "$ 9123", "$ 9241", "$ 6596" ] ]

[ "operating expenses increased $ 348 million in 2012 versus 2011 .", "depreciation , wage and benefit inflation , higher fuel prices and volume- related trucking services purchased by our logistics subsidiaries , contributed to higher expenses during the year .", "efficiency gains , volume related fuel savings ( 2% ( 2 % ) fewer gallons of fuel consumed ) and $ 38 million of weather related expenses in 2011 , which favorably affects the comparison , partially offset the cost increase .", "operating expenses increased $ 1.8 billion in 2011 versus 2010 .", "our fuel price per gallon rose 36% ( 36 % ) during 2011 , accounting for $ 922 million of the increase .", "wage and benefit inflation , volume-related costs , depreciation , and property taxes also contributed to higher expenses .", "expenses increased $ 20 million for costs related to the flooding in the midwest and $ 18 million due to the impact of severe heat and drought in the south , primarily texas .", "cost savings from productivity improvements and better resource utilization partially offset these increases .", "a $ 45 million one-time payment relating to a transaction with csx intermodal , inc ( csxi ) increased operating expenses during the first quarter of 2010 , which favorably affects the comparison of operating expenses in 2011 to those in 2010 .", "compensation and benefits 2013 compensation and benefits include wages , payroll taxes , health and welfare costs , pension costs , other postretirement benefits , and incentive costs .", "expenses in 2012 were essentially flat versus 2011 as operational improvements and cost reductions offset general wage and benefit inflation and higher pension and other postretirement benefits .", "in addition , weather related costs increased these expenses in 2011 .", "a combination of general wage and benefit inflation , volume-related expenses , higher training costs associated with new hires , additional crew costs due to speed restrictions caused by the midwest flooding and heat and drought in the south , and higher pension expense drove the increase during 2011 compared to 2010 .", "fuel 2013 fuel includes locomotive fuel and gasoline for highway and non-highway vehicles and heavy equipment .", "higher locomotive diesel fuel prices , which averaged $ 3.22 per gallon ( including taxes and transportation costs ) in 2012 , compared to $ 3.12 in 2011 , increased expenses by $ 105 million .", "volume , as measured by gross ton-miles , decreased 2% ( 2 % ) in 2012 versus 2011 , driving expense down .", "the fuel consumption rate was flat year-over-year .", "higher locomotive diesel fuel prices , which averaged $ 3.12 ( including taxes and transportation costs ) in 2011 , compared to $ 2.29 per gallon in 2010 , increased expenses by $ 922 million .", "in addition , higher gasoline prices for highway and non-highway vehicles also increased year-over-year .", "volume , as measured by gross ton-miles , increased 5% ( 5 % ) in 2011 versus 2010 , driving expense up by $ 122 million .", "purchased services and materials 2013 expense for purchased services and materials includes the costs of services purchased from outside contractors and other service providers ( including equipment 2012 operating expenses ." ]

[ "operating expenses millions 2012 2011 2010 % ( % ) change 2012 v 2011 % ( % ) change 2011 v 2010 ." ]

[ "millions the total of 2012 is $ 14181 ; the total of 2011 is $ 13833 ; the total of 2010 is $ 11984 ; the total of % ( % ) change 2012 v 2011 is 3% ( 3 % ) ; the total of % ( % ) change 2011 v 2010 is 15% ( 15 % ) ;", "millions the equipment and other rents of 2012 is 1197 ; the equipment and other rents of 2011 is 1167 ; the equipment and other rents of 2010 is 1142 ; the equipment and other rents of % ( % ) change 2012 v 2011 is 3 ; the equipment and other rents of % ( % ) change 2011 v 2010 is 2 ;" ]

[ [ "millions", "2012", "2011", "2010", "% ( % ) change 2012 v 2011", "% ( % ) change 2011 v 2010" ], [ "compensation and benefits", "$ 4685", "$ 4681", "$ 4314", "-% ( - % )", "9% ( 9 % )" ], [ "fuel", "3608", "3581", "2486", "1", "44" ], [ "purchased services and materials", "2143", "2005", "1836", "7", "9" ], [ "depreciation", "1760", "1617", "1487", "9", "9" ], [ "equipment and other rents", "1197", "1167", "1142", "3", "2" ], [ "other", "788", "782", "719", "1", "9" ], [ "total", "$ 14181", "$ 13833", "$ 11984", "3% ( 3 % )", "15% ( 15 % )" ] ]

[ "changes in net interest income and margin result from the interaction of the volume and composition of interest-earning assets and related yields , interest-bearing liabilities and related rates paid , and noninterest-bearing sources of funding .", "see statistical information 2013 analysis of year-to-year changes in net interest ( unaudited ) income and average consolidated balance sheet and net interest analysis in item 8 of this report for additional information .", "higher net interest income for 2009 compared with 2008 reflected the increase in average interest-earning assets due to national city and the improvement in the net interest margin .", "the net interest margin was 3.82% ( 3.82 % ) for 2009 and 3.37% ( 3.37 % ) for 2008 .", "the following factors impacted the comparison : 2022 a decrease in the rate accrued on interest-bearing liabilities of 97 basis points .", "the rate accrued on interest-bearing deposits , the largest component , decreased 107 basis points .", "2022 these factors were partially offset by a 45 basis point decrease in the yield on interest-earning assets .", "the yield on loans , which represented the largest portion of our earning assets in 2009 , decreased 30 basis points .", "2022 in addition , the impact of noninterest-bearing sources of funding decreased 7 basis points .", "for comparing to the broader market , the average federal funds rate was .16% ( .16 % ) for 2009 compared with 1.94% ( 1.94 % ) for 2008 .", "we expect our net interest income for 2010 will likely be modestly lower as a result of cash recoveries on purchased impaired loans in 2009 and additional run-off of higher- yielding assets , which could be mitigated by rising interest rates .", "this assumes our current expectations for interest rates and economic conditions 2013 we include our current economic assumptions underlying our forward-looking statements in the cautionary statement regarding forward-looking information section of this item 7 .", "noninterest income summary noninterest income was $ 7.1 billion for 2009 and $ 2.4 billion for 2008 .", "noninterest income for 2009 included the following : 2022 the gain on blackrock/bgi transaction of $ 1.076 billion , 2022 net credit-related other-than-temporary impairments ( otti ) on debt and equity securities of $ 577 million , 2022 net gains on sales of securities of $ 550 million , 2022 gains on hedging of residential mortgage servicing rights of $ 355 million , 2022 valuation and sale income related to our commercial mortgage loans held for sale , net of hedges , of $ 107 million , 2022 gains of $ 103 million related to our blackrock ltip shares adjustment in the first quarter , and net losses on private equity and alternative investments of $ 93 million .", "noninterest income for 2008 included the following : 2022 net otti on debt and equity securities of $ 312 million , 2022 gains of $ 246 million related to our blackrock ltip shares adjustment , 2022 valuation and sale losses related to our commercial mortgage loans held for sale , net of hedges , of $ 197 million , 2022 impairment and other losses related to private equity and alternative investments of $ 180 million , 2022 income from hilliard lyons totaling $ 164 million , including the first quarter gain of $ 114 million from the sale of this business , 2022 net gains on sales of securities of $ 106 million , and 2022 a gain of $ 95 million related to the redemption of a portion of our visa class b common shares related to visa 2019s march 2008 initial public offering .", "additional analysis asset management revenue increased $ 172 million to $ 858 million in 2009 , compared with $ 686 million in 2008 .", "this increase reflected improving equity markets , new business generation and a shift in assets into higher yielding equity investments during the second half of 2009 .", "assets managed totaled $ 103 billion at both december 31 , 2009 and 2008 , including the impact of national city .", "the asset management group section of the business segments review section of this item 7 includes further discussion of assets under management .", "consumer services fees totaled $ 1.290 billion in 2009 compared with $ 623 million in 2008 .", "service charges on deposits totaled $ 950 million for 2009 and $ 372 million for 2008 .", "both increases were primarily driven by the impact of the national city acquisition .", "reduced consumer spending ." ]

[ "consolidated income statement review net income for 2009 was $ 2.4 billion and for 2008 was $ 914 million .", "amounts for 2009 include operating results of national city and the fourth quarter impact of a $ 687 million after-tax gain related to blackrock 2019s acquisition of bgi .", "increases in income statement comparisons to 2008 , except as noted , are primarily due to the operating results of national city .", "our consolidated income statement is presented in item 8 of this report .", "net interest income and net interest margin year ended december 31 dollars in millions 2009 2008 ." ]

[ "for comparing to the broader market , the average federal funds rate was .16% ( .16 % ) for 2009 compared with 1.94% ( 1.94 % ) for 2008 ." ]

[ [ "year ended december 31 dollars in millions", "2009", "2008" ], [ "net interest income", "$ 9083", "$ 3854" ], [ "net interest margin", "3.82% ( 3.82 % )", "3.37% ( 3.37 % )" ] ]

[ "." ]

[ "shareowner return performance graph the following performance graph and related information shall not be deemed 201csoliciting material 201d or to be 201cfiled 201d with the sec , nor shall such information be incorporated by reference into any future filing under the securities act of 1933 or securities exchange act of 1934 , each as amended , except to the extent that the company specifically incorporates such information by reference into such filing .", "the following graph shows a five year comparison of cumulative total shareowners 2019 returns for our class b common stock , the standard & poor 2019s 500 index , and the dow jones transportation average .", "the comparison of the total cumulative return on investment , which is the change in the quarterly stock price plus reinvested dividends for each of the quarterly periods , assumes that $ 100 was invested on december 31 , 2010 in the standard & poor 2019s 500 index , the dow jones transportation average , and our class b common stock. ." ]

[ "the united parcel service inc . of 12/31/2010 is $ 100.00 ; the united parcel service inc . of 12/31/2011 is $ 103.88 ; the united parcel service inc . of 12/31/2012 is $ 107.87 ; the united parcel service inc . of 12/31/2013 is $ 158.07 ; the united parcel service inc . of 12/31/2014 is $ 171.77 ; the united parcel service inc . of 12/31/2015 is $ 160.61 ;" ]

[ [ "", "12/31/2010", "12/31/2011", "12/31/2012", "12/31/2013", "12/31/2014", "12/31/2015" ], [ "united parcel service inc .", "$ 100.00", "$ 103.88", "$ 107.87", "$ 158.07", "$ 171.77", "$ 160.61" ], [ "standard & poor 2019s 500 index", "$ 100.00", "$ 102.11", "$ 118.43", "$ 156.77", "$ 178.22", "$ 180.67" ], [ "dow jones transportation average", "$ 100.00", "$ 100.01", "$ 107.49", "$ 151.97", "$ 190.08", "$ 158.23" ] ]

[ "the total fair value of restricted stock , restricted stock units , and performance shares that vested during 2017 , 2016 and 2015 was $ 66.0 million , $ 59.8 million and $ 43.3 million , respectively .", "under the espp , eligible employees may acquire shares of class a common stock using after-tax payroll deductions made during consecutive offering periods of approximately six months in duration .", "shares are purchased at the end of each offering period at a price of 90% ( 90 % ) of the closing price of the class a common stock as reported on the nasdaq global select market .", "compensation expense is recognized on the dates of purchase for the discount from the closing price .", "in 2017 , 2016 and 2015 , a total of 19936 , 19858 and 19756 shares , respectively , of class a common stock were issued to participating employees .", "these shares are subject to a six-month holding period .", "annual expense of $ 0.3 million for the purchase discount was recognized in 2017 , and $ 0.2 million was recognized in both 2016 and 2015 .", "non-executive directors receive an annual award of class a common stock with a value equal to $ 100000 .", "non-executive directors may also elect to receive some or all of the cash portion of their annual stipend , up to $ 60000 , in shares of stock based on the closing price at the date of distribution .", "as a result , 19736 shares , 26439 shares and 25853 shares of class a common stock were issued to non-executive directors during 2017 , 2016 and 2015 , respectively .", "these shares are not subject to any vesting restrictions .", "expense of $ 2.5 million , $ 2.4 million and $ 2.5 million related to these stock-based payments was recognized for the years ended december 31 , 2017 , 2016 and 2015 , respectively. ." ]

[ "in 2017 , the company granted 440076 shares of restricted class a common stock and 7568 shares of restricted stock units .", "restricted common stock and restricted stock units generally have a vesting period of two to four years .", "the fair value related to these grants was $ 58.7 million , which is recognized as compensation expense on an accelerated basis over the vesting period .", "dividends are accrued on restricted class a common stock and restricted stock units and are paid once the restricted stock vests .", "in 2017 , the company also granted 203298 performance shares .", "the fair value related to these grants was $ 25.3 million , which is recognized as compensation expense on an accelerated and straight-lined basis over the vesting period .", "the vesting of these shares is contingent on meeting stated performance or market conditions .", "the following table summarizes restricted stock , restricted stock units , and performance shares activity for 2017 : number of shares weighted average grant date fair value ." ]

[ "restricted common stock and restricted stock units generally have a vesting period of two to four years .", "the fair value related to these grants was $ 58.7 million , which is recognized as compensation expense on an accelerated basis over the vesting period ." ]

[ [ "", "number of shares", "weightedaveragegrant datefair value" ], [ "outstanding at december 31 2016", "1820578", "$ 98" ], [ "granted", "650942", "129" ], [ "vested", "-510590 ( 510590 )", "87" ], [ "cancelled", "-401699 ( 401699 )", "95" ], [ "outstanding at december 31 2017", "1559231", "116" ] ]

[ "the firm could fund purchases of assets from vies should it become necessary .", "investor intermediation as a financial intermediary , the firm creates certain types of vies and also structures transactions , typically derivative structures , with these vies to meet investor needs .", "the firm may also provide liquidity and other support .", "the risks inherent in the derivative instruments or liq- uidity commitments are managed similarly to other credit , market or liquidity risks to which the firm is exposed .", "the principal types of vies for which the firm is engaged in these structuring activities are municipal bond vehicles , credit-linked note vehicles and collateralized debt obligation vehicles .", "municipal bond vehicles the firm has created a series of secondary market trusts that provide short-term investors with qualifying tax-exempt investments , and that allow investors in tax-exempt securities to finance their investments at short-term tax-exempt rates .", "in a typical transaction , the vehicle pur- chases fixed-rate longer-term highly rated municipal bonds and funds the purchase by issuing two types of securities : ( 1 ) putable floating- rate certificates and ( 2 ) inverse floating-rate residual interests ( 201cresid- ual interests 201d ) .", "the maturity of each of the putable floating-rate certifi- cates and the residual interests is equal to the life of the vehicle , while the maturity of the underlying municipal bonds is longer .", "holders of the putable floating-rate certificates may 201cput 201d , or tender , the certifi- cates if the remarketing agent cannot successfully remarket the float- ing-rate certificates to another investor .", "a liquidity facility conditionally obligates the liquidity provider to fund the purchase of the tendered floating-rate certificates .", "upon termination of the vehicle , if the pro- ceeds from the sale of the underlying municipal bonds are not suffi- cient to repay the liquidity facility , the liquidity provider has recourse either to excess collateralization in the vehicle or the residual interest holders for reimbursement .", "the third-party holders of the residual interests in these vehicles could experience losses if the face amount of the putable floating-rate cer- tificates exceeds the market value of the municipal bonds upon termi- nation of the vehicle .", "certain vehicles require a smaller initial invest- ment by the residual interest holders and thus do not result in excess collateralization .", "for these vehicles there exists a reimbursement obli- ." ]

[ "notes to consolidated financial statements jpmorgan chase & co .", "150 jpmorgan chase & co .", "/ 2007 annual report expected loss modeling in 2006 , the firm restructured four multi-seller conduits that it administers .", "the restructurings included enhancing the firm 2019s expected loss model .", "in determining the primary beneficiary of the conduits it administers , the firm uses a monte carlo 2013based model to estimate the expected losses of each of the conduits and considers the rela- tive rights and obligations of each of the variable interest holders .", "the variability to be considered in the modeling of expected losses is based on the design of the entity .", "the firm 2019s traditional multi-seller conduits are designed to pass credit risk , not liquidity risk , to its vari- able interest holders , as the assets are intended to be held in the conduit for the longer term .", "under fin 46r , the firm is required to run the monte carlo-based expected loss model each time a reconsideration event occurs .", "in applying this guidance to the conduits , the following events are considered to be reconsideration events as they could affect the determination of the primary beneficiary of the conduits : 2022 new deals , including the issuance of new or additional variable interests ( credit support , liquidity facilities , etc ) ; 2022 changes in usage , including the change in the level of outstand- ing variable interests ( credit support , liquidity facilities , etc ) ; 2022 modifications of asset purchase agreements ; and 2022 sales of interests held by the primary beneficiary .", "from an operational perspective , the firm does not run its monte carlo-based expected loss model every time there is a reconsidera- tion event due to the frequency of their occurrence .", "instead , the firm runs its expected loss model each quarter and includes a growth assumption for each conduit to ensure that a sufficient amount of elns exists for each conduit at any point during the quarter .", "as part of its normal quarterly model review , the firm reassesses the underlying assumptions and inputs of the expected loss model .", "during the second half of 2007 , certain assumptions used in the model were adjusted to reflect the then current market conditions .", "specifically , risk ratings and loss given default assumptions relating to residential subprime mortgage exposures were modified .", "for other nonmortgage-related asset classes , the firm determined that the assumptions in the model required little adjustment .", "as a result of the updates to the model , during the fourth quarter of 2007 the terms of the elns were renegotiated to increase the level of commit- ment and funded amounts to be provided by the eln holders .", "the total amount of expected loss notes outstanding at december 31 , 2007 and 2006 , were $ 130 million and $ 54 million , respectively .", "management concluded that the model assumptions used were reflective of market participant 2019s assumptions and appropriately considered the probability of a recurrence of recent market events .", "qualitative considerations the multi-seller conduits are primarily designed to provide an efficient means for clients to access the commercial paper market .", "the firm believes the conduits effectively disperse risk among all parties and that the preponderance of economic risk in the firm 2019s multi-seller conduits is not held by jpmorgan chase .", "the percentage of assets in the multi-seller conduits that the firm views as client-related represent 99% ( 99 % ) and 98% ( 98 % ) of the total conduits 2019 holdings at december 31 , 2007 and 2006 , respectively .", "consolidated sensitivity analysis on capital it is possible that the firm could be required to consolidate a vie if it were determined that the firm became the primary beneficiary of the vie under the provisions of fin 46r .", "the factors involved in making the determination of whether or not a vie should be consolidated are dis- cussed above and in note 1 on page 108 of this annual report .", "the table below shows the impact on the firm 2019s reported assets , liabilities , net income , tier 1 capital ratio and tier 1 leverage ratio if the firm were required to consolidate all of the multi-seller conduits that it administers .", "as of or for the year ending december 31 , 2007 ." ]

[ "( in billions except ratios ) the assets of reported is $ 1562.1 ; the assets of pro forma is $ 1623.9 ;", "/ 2007 annual report expected loss modeling in 2006 , the firm restructured four multi-seller conduits that it administers ." ]

[ [ "( in billions except ratios )", "reported", "pro forma" ], [ "assets", "$ 1562.1", "$ 1623.9" ], [ "liabilities", "1438.9", "1500.9" ], [ "net income", "15.4", "15.2" ], [ "tier 1 capital ratio", "8.4% ( 8.4 % )", "8.4% ( 8.4 % )" ], [ "tier 1 leverage ratio", "6.0", "5.8" ] ]

[ "the stock performance graph assumes for comparison that the value of the company's common stock and of each index was $ 100 on december 31 , 2013 and that all dividends were reinvested .", "past performance is not necessarily an indicator of future results. ." ]

[ "table of contents performance graph the following graph compares the total return , assuming reinvestment of dividends , on an investment in the company , based on performance of the company's common stock , with the total return of the standard & poor's 500 composite stock index ( \"s&p 500\" ) and the dow jones united states travel and leisure index for a five year period by measuring the changes in common stock prices from december 31 , 2013 to december 31 , 2018. ." ]

[ "the royal caribbean cruises ltd . of 12/13 is 100.00 ; the royal caribbean cruises ltd . of 12/14 is 176.94 ; the royal caribbean cruises ltd . of 12/15 is 220.72 ; the royal caribbean cruises ltd . of 12/16 is 182.99 ; the royal caribbean cruises ltd . of 12/17 is 271.25 ; the royal caribbean cruises ltd . of 12/18 is 227.46 ;" ]

[ [ "", "12/13", "12/14", "12/15", "12/16", "12/17", "12/18" ], [ "royal caribbean cruises ltd .", "100.00", "176.94", "220.72", "182.99", "271.25", "227.46" ], [ "s&p 500", "100.00", "113.69", "115.26", "129.05", "157.22", "150.33" ], [ "dow jones u.s . travel & leisure", "100.00", "116.37", "123.23", "132.56", "164.13", "154.95" ] ]

[ "sfas no .", "109 , 201caccounting for income taxes , 201d requires that companies record a valuation allowance when it is 201cmore likely than not that some portion or all of the deferred tax assets will not be realized . 201d at december 31 , 2003 , the company has provided a valuation allowance of approximately $ 156.7 million , primarily related to net state deferred tax assets , capital loss carryforwards and the lost tax benefit and costs associated with our tax refund claims .", "the company has not provided a valuation allowance for the remaining net deferred tax assets , primarily its tax refund claims and federal net operating loss carryforwards , as management believes the company will be successful with its tax refund claims and have sufficient time to realize these federal net operating loss carryforwards during the twenty-year tax carryforward period .", "the company intends to recover a portion of its deferred tax asset through its tax refund claims , related to certain federal net operating losses , filed during 2003 as part of a tax planning strategy implemented in 2002 .", "the recoverability of its remaining net deferred tax asset has been assessed utilizing stable state ( no growth ) projections based on its current operations .", "the projections show a significant decrease in depreciation and interest expense in the later years of the carryforward period as a result of a significant portion of its assets being fully depreciated during the first fifteen years of the carryforward period and debt repayments reducing interest expense .", "accordingly , the recoverability of the net deferred tax asset is not dependent on material improvements to operations , material asset sales or other non-routine transactions .", "based on its current outlook of future taxable income during the carryforward period , management believes that the net deferred tax asset will be realized .", "the realization of the company 2019s deferred tax assets will be dependent upon its ability to generate approximately $ 1.0 billion in taxable income from january 1 , 2004 to december 31 , 2023 .", "if the company is unable to generate sufficient taxable income in the future , or carry back losses as described above , it will be required to reduce its net deferred tax asset through a charge to income tax expense , which would result in a corresponding decrease in stockholders 2019 equity .", "depending on the resolution of the verestar bankruptcy proceedings described in note 2 , the company may be entitled to a worthless stock or bad debt deduction for its investment in verestar .", "no income tax benefit has been provided for these potential deductions due to the uncertainty surrounding the bankruptcy proceedings .", "13 .", "stockholders 2019 equity preferred stock as of december 31 , 2003 the company was authorized to issue up to 20.0 million shares of $ .01 par value preferred stock .", "as of december 31 , 2003 and 2002 there were no preferred shares issued or outstanding. ." ]

[ "american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) basis step-up from corporate restructuring represents the tax effects of increasing the basis for tax purposes of certain of the company 2019s assets in conjunction with its spin-off from american radio systems corporation , its former parent company .", "at december 31 , 2003 , the company had net federal and state operating loss carryforwards available to reduce future taxable income of approximately $ 0.9 billion and $ 1.5 billion , respectively .", "if not utilized , the company 2019s net operating loss carryforwards expire as follows ( in thousands ) : ." ]

[ "years ended december 31 , the 2009 to 2013 of federal is 12234 ; the 2009 to 2013 of state is 66666 ;", "years ended december 31 , the total of federal is $ 926886 ; the total of state is $ 1513972 ;" ]

[ [ "years ended december 31,", "federal", "state" ], [ "2004 to 2008", "$ 1451", "$ 483578" ], [ "2009 to 2013", "12234", "66666" ], [ "2014 to 2018", "10191", "235589" ], [ "2019 to 2023", "903010", "728139" ], [ "total", "$ 926886", "$ 1513972" ] ]

[ "1 leases and municipal grants on portions of the land used for these facilities expire on varying dates through 2109 .", "2 leases expire on varying dates through 2058 and generally include renewals at our option .", "our principal executive offices are located in the u.s .", "and the majority of our wafer manufacturing activities in 2016 were also located in the u.s .", "one of our arizona wafer fabrication facilities is currently on hold and held in a safe state , and we are reserving the building for additional capacity and future technologies .", "incremental construction and equipment installation are required to ready the facility for its intended use .", "for more information on our wafer fabrication and our assembly and test facilities , see 201cmanufacturing and assembly and test 201d in part i , item 1 of this form 10-k .", "we believe that the facilities described above are suitable and adequate for our present purposes and that the productive capacity in our facilities is substantially being utilized or we have plans to utilize it .", "we do not identify or allocate assets by operating segment .", "for information on net property , plant and equipment by country , see 201cnote 4 : operating segments and geographic information 201d in part ii , item 8 of this form 10-k .", "item 3 .", "legal proceedings for a discussion of legal proceedings , see 201cnote 20 : commitments and contingencies 201d in part ii , item 8 of this form 10-k .", "item 4 .", "mine safety disclosures not applicable. ." ]

[ "there are inherent limitations on the effectiveness of our controls .", "we do not expect that our disclosure controls or our internal control over financial reporting will prevent or detect all errors and all fraud .", "a control system , no matter how well-designed and operated , can provide only reasonable , not absolute , assurance that the control system 2019s objectives will be met .", "the design of a control system must reflect the fact that resource constraints exist , and the benefits of controls must be considered relative to their costs .", "further , because of the inherent limitations in all control systems , no evaluation of controls can provide absolute assurance that misstatements due to error or fraud will not occur or that all control issues and instances of fraud , if any , have been detected .", "the design of any system of controls is based in part on certain assumptions about the likelihood of future events , and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions .", "projections of any evaluation of the effectiveness of controls to future periods are subject to risks .", "over time , controls may become inadequate due to changes in conditions or deterioration in the degree of compliance with policies or procedures .", "if our controls become inadequate , we could fail to meet our financial reporting obligations , our reputation may be adversely affected , our business and operating results could be harmed , and the market price of our stock could decline .", "item 1b .", "unresolved staff comments not applicable .", "item 2 .", "properties as of december 31 , 2016 , our major facilities consisted of : ( square feet in millions ) united states countries total owned facilities1 .", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", "31.5 19.2 50.7 leased facilities2 .", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", "2.5 7.1 9.6 ." ]

[ "( square feet in millions ) the total facilities of unitedstates is 34.0 ; the total facilities of othercountries is 26.3 ; the total facilities of total is 60.3 ;" ]

[ [ "( square feet in millions )", "unitedstates", "othercountries", "total" ], [ "owned facilities1", "31.5", "19.2", "50.7" ], [ "leased facilities2", "2.5", "7.1", "9.6" ], [ "total facilities", "34.0", "26.3", "60.3" ] ]

[ "[a] effective january 1 , 2010 , a new accounting standard required us to account for receivables transferred under our receivables securitization facility as secured borrowings in our consolidated statements of financial position and as financing activities in our consolidated statements of cash flows .", "the receivables securitization facility is included in our free cash flow calculation to adjust cash provided by operating activities as though our receivables securitization facility had been accounted for under the new accounting standard for all periods presented .", "2011 outlook 2022 safety 2013 operating a safe railroad benefits our employees , our customers , our shareholders , and the public .", "we will continue using a multi-faceted approach to safety , utilizing technology , risk assessment , quality control , and training , and engaging our employees .", "we will continue implementing total safety culture ( tsc ) throughout our operations .", "tsc is designed to establish , maintain , reinforce , and promote safe practices among co-workers .", "this process allows us to identify and implement best practices for employee and operational safety .", "reducing grade crossing incidents is a critical aspect of our safety programs , and we will continue our efforts to maintain and close crossings ; install video cameras on locomotives ; and educate the public and law enforcement agencies about crossing safety through a combination of our own programs ( including risk assessment strategies ) , various industry programs , and engaging local communities .", "2022 transportation plan 2013 to build upon our success in recent years , we will continue evaluating traffic flows and network logistic patterns , which can be quite dynamic , to identify additional opportunities to simplify operations , remove network variability , and improve network efficiency and asset utilization .", "we plan to adjust manpower and our locomotive and rail car fleets to meet customer needs and put ." ]

[ "2009 levels , we returned a portion of these assets to active service .", "at the end of 2010 , we continued to maintain in storage approximately 17% ( 17 % ) of our multiple purpose locomotives and 14% ( 14 % ) of our freight car inventory , reflecting our ability to effectively leverage our assets as volumes return to our network .", "2022 fuel prices 2013 fuel prices generally increased throughout 2010 as the economy improved .", "our average diesel fuel price per gallon increased nearly 20% ( 20 % ) from january to december of 2010 , driven by higher crude oil barrel prices and conversion spreads .", "compared to 2009 , our diesel fuel price per gallon consumed increased 31% ( 31 % ) , driving operating expenses up by $ 566 million ( excluding any impact from year-over-year volume increases ) .", "to partially offset the effect of higher fuel prices , we reduced our consumption rate by 3% ( 3 % ) during the year , saving approximately 27 million gallons of fuel .", "the use of newer , more fuel efficient locomotives ; increased use of distributed locomotive power ( the practice of distributing locomotives throughout a train rather than positioning them all in the lead resulting in safer and more efficient train operations ) ; fuel conservation programs ; and efficient network operations and asset utilization all contributed to this improvement .", "2022 free cash flow 2013 cash generated by operating activities ( adjusted for the reclassification of our receivables securitization facility ) totaled $ 4.5 billion , yielding record free cash flow of $ 1.4 billion in 2010 .", "free cash flow is defined as cash provided by operating activities ( adjusted for the reclassification of our receivables securitization facility ) , less cash used in investing activities and dividends paid .", "free cash flow is not considered a financial measure under accounting principles generally accepted in the u.s .", "( gaap ) by sec regulation g and item 10 of sec regulation s-k .", "we believe free cash flow is important in evaluating our financial performance and measures our ability to generate cash without additional external financings .", "free cash flow should be considered in addition to , rather than as a substitute for , cash provided by operating activities .", "the following table reconciles cash provided by operating activities ( gaap measure ) to free cash flow ( non-gaap measure ) : millions 2010 2009 2008 ." ]

[ "millions the receivables securitization facility [a] of 2010 is 400 ; the receivables securitization facility [a] of 2009 is 184 ; the receivables securitization facility [a] of 2008 is 16 ;", "millions the cash provided by operating activitiesadjusted for the receivables securitizationfacility of 2010 is 4505 ; the cash provided by operating activitiesadjusted for the receivables securitizationfacility of 2009 is 3388 ; the cash provided by operating activitiesadjusted for the receivables securitizationfacility of 2008 is 4060 ;" ]

[ [ "millions", "2010", "2009", "2008" ], [ "cash provided by operating activities", "$ 4105", "$ 3204", "$ 4044" ], [ "receivables securitization facility [a]", "400", "184", "16" ], [ "cash provided by operating activitiesadjusted for the receivables securitizationfacility", "4505", "3388", "4060" ], [ "cash used in investing activities", "-2488 ( 2488 )", "-2145 ( 2145 )", "-2738 ( 2738 )" ], [ "dividends paid", "-602 ( 602 )", "-544 ( 544 )", "-481 ( 481 )" ], [ "free cash flow", "$ 1415", "$ 699", "$ 841" ] ]

[ "for the reasons described above in results of operations for the years ended december 31 , 2010 and 2009 , under the caption 201cresearch and development expenses 201d , and due to the variability in the costs necessary to develop a pharmaceutical product and the uncertainties related to future indications to be studied , the estimated cost and scope of the projects , and our ultimate ability to obtain governmental approval for commercialization , accurate and meaningful estimates of the total cost to bring our product candidates to market are not available .", "similarly , we are currently unable to reasonably estimate if our product candidates will generate material product revenues and net cash inflows .", "in 2008 , we received fda approval for arcalyst ae for the treatment of caps , a group of rare , inherited auto-inflammatory diseases that affect a very small group of people .", "we currently do not expect to generate material product revenues and net cash inflows from the sale of arcalyst ae for the treatment of caps .", "selling , general , and administrative expenses selling , general , and administrative expenses increased to $ 52.9 million in 2009 from $ 48.9 million in 2008 .", "in 2009 , we incurred ( i ) higher compensation expense , ( ii ) higher patent-related costs , ( iii ) higher facility-related costs due primarily to increases in administrative headcount , and ( iv ) higher patient assistance costs related to arcalyst ae .", "these increases were partly offset by ( i ) lower marketing costs related to arcalyst ae , ( ii ) a decrease in administrative recruitment costs , and ( iii ) lower professional fees related to various corporate matters .", "cost of goods sold during 2008 , we began recognizing revenue and cost of goods sold from net product sales of arcalyst ae .", "cost of goods sold in 2009 and 2008 was $ 1.7 million and $ 0.9 million , respectively , and consisted primarily of royalties and other period costs related to arcalyst ae commercial supplies .", "in 2009 and 2008 , arcalyst ae shipments to our customers consisted of supplies of inventory manufactured and expensed as research and development costs prior to fda approval in 2008 ; therefore , the costs of these supplies were not included in costs of goods sold .", "other income and expense investment income decreased to $ 4.5 million in 2009 from $ 18.2 million in 2008 , due primarily to lower yields on , and lower balances of , cash and marketable securities .", "in addition , in 2009 and 2008 , deterioration in the credit quality of specific marketable securities in our investment portfolio subjected us to the risk of not being able to recover these securities 2019 carrying values .", "as a result , in 2009 and 2008 , we recognized charges of $ 0.1 million and $ 2.5 million , respectively , related to these securities , which we considered to be other than temporarily impaired .", "in 2009 and 2008 , these charges were either wholly or partly offset by realized gains of $ 0.2 million and $ 1.2 million , respectively , on sales of marketable securities during the year. ." ]

[ "we prepare estimates of research and development costs for projects in clinical development , which include direct costs and allocations of certain costs such as indirect labor , non-cash compensation expense , and manufacturing and other costs related to activities that benefit multiple projects , and , under our collaboration with bayer healthcare , the portion of bayer healthcare 2019s vegf trap-eye development expenses that we are obligated to reimburse .", "our estimates of research and development costs for clinical development programs are shown below : project costs year ended december 31 , increase ( decrease ) ( in millions ) 2009 2008 ." ]

[ "project costs ( in millions ) the arcalyst ae of project costs 2009 is $ 67.7 ; the arcalyst ae of 2008 is $ 39.2 ; the arcalyst ae of ( decrease ) is $ 28.5 ;" ]

[ [ "project costs ( in millions )", "project costs 2009", "2008", "( decrease )" ], [ "arcalyst ae", "$ 67.7", "$ 39.2", "$ 28.5" ], [ "vegf trap-eye", "109.8", "82.7", "27.1" ], [ "aflibercept", "23.3", "32.1", "-8.8 ( 8.8 )" ], [ "regn88", "36.9", "21.4", "15.5" ], [ "other antibody candidates in clinical development", "74.4", "27.4", "47.0" ], [ "other research programs & unallocated costs", "86.7", "72.1", "14.6" ], [ "total research and development expenses", "$ 398.8", "$ 274.9", "$ 123.9" ] ]

[ "( 1 ) amounts represent $ 366 million of aum acquired in the futureadvisor acquisition in october 2015 .", "the futureadvisor acquisition amount does not include aum that was held in ishares holdings .", "multi-asset class net inflows reflected ongoing institutional demand for our solutions-based advice with $ 17.4 billion of net inflows coming from institutional clients .", "defined contribution plans of institutional clients remained a significant driver of flows , and contributed $ 7.3 billion to institutional multi-asset class net new business in 2015 , primarily into target date and target risk product offerings .", "retail net outflows of $ 1.3 billion were primarily due to a large single-client transition out of mutual funds into a series of ishares across asset classes .", "notwithstanding this transition , retail flows reflected demand for our multi-asset income fund family , which raised $ 4.6 billion in 2015 .", "the company 2019s multi-asset class strategies include the following : 2022 asset allocation and balanced products represented 49% ( 49 % ) of multi-asset class aum at year-end , with growth in aum driven by net new business of $ 12.9 billion .", "these strategies combine equity , fixed income and alternative components for investors seeking a tailored solution relative to a specific benchmark and within a risk budget .", "in certain cases , these strategies seek to minimize downside risk through diversification , derivatives strategies and tactical asset allocation decisions .", "flagship products in this category include our global allocation andmulti-asset income suites. ." ]

[ "long-term product offerings include active and index strategies .", "our active strategies seek to earn attractive returns in excess of a market benchmark or performance hurdle while maintaining an appropriate risk profile .", "we offer two types of active strategies : those that rely primarily on fundamental research and those that utilize primarily quantitative models to drive portfolio construction .", "in contrast , index strategies seek to closely track the returns of a corresponding index , generally by investing in substantially the same underlying securities within the index or in a subset of those securities selected to approximate a similar risk and return profile of the index .", "index strategies include both our non-etf index products and ishares etfs .", "althoughmany clients use both active and index strategies , the application of these strategies may differ .", "for example , clients may use index products to gain exposure to a market or asset class .", "in addition , institutional non-etf index assignments tend to be very large ( multi-billion dollars ) and typically reflect low fee rates .", "this has the potential to exaggerate the significance of net flows in institutional index products on blackrock 2019s revenues and earnings .", "equity year-end 2015 equity aum totaled $ 2.424 trillion , reflecting net inflows of $ 52.8 billion .", "net inflows included $ 78.4 billion and $ 4.2 billion into ishares and active products , respectively .", "ishares net inflows were driven by the core series and flows into broad developed market equity exposures , and active net inflows reflected demand for international equities .", "ishares and active net inflows were partially offset by non-etf index net outflows of $ 29.8 billion .", "blackrock 2019s effective fee rates fluctuate due to changes in aummix .", "approximately half of blackrock 2019s equity aum is tied to international markets , including emerging markets , which tend to have higher fee rates than u.s .", "equity strategies .", "accordingly , fluctuations in international equity markets , which do not consistently move in tandemwith u.s .", "markets , may have a greater impact on blackrock 2019s effective equity fee rates and revenues .", "fixed income fixed income aum ended 2015 at $ 1.422 trillion , increasing $ 28.7 billion , or 2% ( 2 % ) , from december 31 , 2014 .", "the increase in aum reflected $ 76.9 billion in net inflows , partially offset by $ 48.2 billion in net market depreciation and foreign exchange movements .", "in 2015 , active net inflows of $ 35.9 billion were diversified across fixed income offerings , with strong flows into our unconstrained , total return and high yield strategies .", "flagship funds in these product areas include our unconstrained strategic income opportunities and fixed income strategies funds , with net inflows of $ 7.0 billion and $ 3.7 billion , respectively ; our total return fund with net inflows of $ 2.7 billion ; and our high yield bond fund with net inflows of $ 3.5 billion .", "fixed income ishares net inflows of $ 50.3 billion were led by flows into core , corporate and high yield bond funds .", "active and ishares net inflows were partially offset by non-etf index net outflows of $ 9.3 billion .", "multi-asset class blackrock 2019s multi-asset class teammanages a variety of balanced funds and bespoke mandates for a diversified client base that leverages our broad investment expertise in global equities , bonds , currencies and commodities , and our extensive risk management capabilities .", "investment solutions might include a combination of long-only portfolios and alternative investments as well as tactical asset allocation overlays .", "component changes in multi-asset class aum for 2015 are presented below .", "( in millions ) december 31 , 2014 net inflows ( outflows ) acquisition ( 1 ) market change fx impact december 31 , 2015 asset allocation and balanced $ 183032 $ 12926 $ 2014 $ ( 6731 ) $ ( 3391 ) $ 185836 ." ]

[ "( in millions ) the asset allocation and balanced of december 312014 is $ 183032 ; the asset allocation and balanced of net inflows ( outflows ) is $ 12926 ; the asset allocation and balanced of acquisition ( 1 ) is $ 2014 ; the asset allocation and balanced of market change is $ -6731 ( 6731 ) ; the asset allocation and balanced of fx impact is $ -3391 ( 3391 ) ; the asset allocation and balanced of december 312015 is $ 185836 ;", "( in millions ) the multi-asset of december 312014 is $ 377837 ; the multi-asset of net inflows ( outflows ) is $ 17167 ; the multi-asset of acquisition ( 1 ) is $ 366 ; the multi-asset of market change is $ -7413 ( 7413 ) ; the multi-asset of fx impact is $ -11621 ( 11621 ) ; the multi-asset of december 312015 is $ 376336 ;", "( in millions ) december 31 , 2014 net inflows ( outflows ) acquisition ( 1 ) market change fx impact december 31 , 2015 asset allocation and balanced $ 183032 $ 12926 $ 2014 $ ( 6731 ) $ ( 3391 ) $ 185836 ." ]

[ [ "( in millions )", "december 312014", "net inflows ( outflows )", "acquisition ( 1 )", "market change", "fx impact", "december 312015" ], [ "asset allocation and balanced", "$ 183032", "$ 12926", "$ 2014", "$ -6731 ( 6731 )", "$ -3391 ( 3391 )", "$ 185836" ], [ "target date/risk", "128611", "218", "2014", "-1308 ( 1308 )", "-1857 ( 1857 )", "125664" ], [ "fiduciary", "66194", "3985", "2014", "627", "-6373 ( 6373 )", "64433" ], [ "futureadvisor", "2014", "38", "366", "-1 ( 1 )", "2014", "403" ], [ "multi-asset", "$ 377837", "$ 17167", "$ 366", "$ -7413 ( 7413 )", "$ -11621 ( 11621 )", "$ 376336" ] ]

[ "december 31 , ( in dollars ) ." ]

[ "jpmorgan chase & co./2018 form 10-k 41 five-year stock performance the following table and graph compare the five-year cumulative total return for jpmorgan chase & co .", "( 201cjpmorgan chase 201d or the 201cfirm 201d ) common stock with the cumulative return of the s&p 500 index , the kbw bank index and the s&p financial index .", "the s&p 500 index is a commonly referenced equity benchmark in the united states of america ( 201cu.s . 201d ) , consisting of leading companies from different economic sectors .", "the kbw bank index seeks to reflect the performance of banks and thrifts that are publicly traded in the u.s .", "and is composed of leading national money center and regional banks and thrifts .", "the s&p financial index is an index of financial companies , all of which are components of the s&p 500 .", "the firm is a component of all three industry indices .", "the following table and graph assume simultaneous investments of $ 100 on december 31 , 2013 , in jpmorgan chase common stock and in each of the above indices .", "the comparison assumes that all dividends are reinvested .", "december 31 , ( in dollars ) 2013 2014 2015 2016 2017 2018 ." ]

[ "december 31 ( in dollars ) the jpmorgan chase of 2013 is $ 100.00 ; the jpmorgan chase of 2014 is $ 109.88 ; the jpmorgan chase of 2015 is $ 119.07 ; the jpmorgan chase of 2016 is $ 160.23 ; the jpmorgan chase of 2017 is $ 203.07 ; the jpmorgan chase of 2018 is $ 189.57 ;", "december 31 ( in dollars ) the s&p 500 index of 2013 is 100.00 ; the s&p 500 index of 2014 is 113.68 ; the s&p 500 index of 2015 is 115.24 ; the s&p 500 index of 2016 is 129.02 ; the s&p 500 index of 2017 is 157.17 ; the s&p 500 index of 2018 is 150.27 ;", "the following table and graph assume simultaneous investments of $ 100 on december 31 , 2013 , in jpmorgan chase common stock and in each of the above indices ." ]

[ [ "december 31 ( in dollars )", "2013", "2014", "2015", "2016", "2017", "2018" ], [ "jpmorgan chase", "$ 100.00", "$ 109.88", "$ 119.07", "$ 160.23", "$ 203.07", "$ 189.57" ], [ "kbw bank index", "100.00", "109.36", "109.90", "141.23", "167.49", "137.82" ], [ "s&p financial index", "100.00", "115.18", "113.38", "139.17", "169.98", "147.82" ], [ "s&p 500 index", "100.00", "113.68", "115.24", "129.02", "157.17", "150.27" ] ]

[ "in october 2010 , we completed the acquisition of hewitt , one of the world 2019s leading human resource consulting and outsourcing companies .", "hewitt operates globally together with aon 2019s existing consulting and outsourcing operations under the newly created aon hewitt brand .", "hewitt 2019s operating results are included in aon 2019s results of operations beginning october 1 , 2010 .", "our hr solutions segment generated approximately 25% ( 25 % ) of our consolidated total revenues in 2010 and provides a broad range of human capital services , as follows : consulting services : 2022 health and benefits advises clients about how to structure , fund , and administer employee benefit programs that attract , retain , and motivate employees .", "benefits consulting includes health and welfare , executive benefits , workforce strategies and productivity , absence management , benefits administration , data-driven health , compliance , employee commitment , investment advisory and elective benefits services .", "2022 retirement specializes in global actuarial services , defined contribution consulting , investment consulting , tax and erisa consulting , and pension administration .", "2022 compensation focuses on compensatory advisory/counsel including : compensation planning design , executive reward strategies , salary survey and benchmarking , market share studies and sales force effectiveness , with special expertise in the financial services and technology industries .", "2022 strategic human capital delivers advice to complex global organizations on talent , change and organizational effectiveness issues , including talent strategy and acquisition , executive on-boarding , performance management , leadership assessment and development , communication strategy , workforce training and change management .", "outsourcing services : 2022 benefits outsourcing applies our hr expertise primarily through defined benefit ( pension ) , defined contribution ( 401 ( k ) ) , and health and welfare administrative services .", "our model replaces the resource-intensive processes once required to administer benefit plans with more efficient , effective , and less costly solutions .", "2022 human resource business processing outsourcing ( 2018 2018hr bpo 2019 2019 ) provides market-leading solutions to manage employee data ; administer benefits , payroll and other human resources processes ; and record and manage talent , workforce and other core hr process transactions as well as other complementary services such as absence management , flexible spending , dependent audit and participant advocacy .", "beginning in late 2008 , the disruption in the global credit markets and the deterioration of the financial markets created significant uncertainty in the marketplace .", "weak economic conditions globally continued throughout 2010 .", "the prolonged economic downturn is adversely impacting our clients 2019 financial condition and therefore the levels of business activities in the industries and geographies where we operate .", "while we believe that the majority of our practices are well positioned to manage through this time , these challenges are reducing demand for some of our services and putting ." ]

[ "hr solutions ." ]

[ "years ended december 31 , the revenue of 2010 is $ 2111 ; the revenue of 2009 is $ 1267 ; the revenue of 2008 is $ 1356 ;" ]

[ [ "years ended december 31,", "2010", "2009", "2008" ], [ "revenue", "$ 2111", "$ 1267", "$ 1356" ], [ "operating income", "234", "203", "208" ], [ "operating margin", "11.1% ( 11.1 % )", "16.0% ( 16.0 % )", "15.3% ( 15.3 % )" ] ]

[ "( 1 ) these calculations assume that : ( a ) applicable margins remain constant ; ( b ) all variable rate debt is priced at the one-month libor rate in effect as of december 31 , 2012 ; ( c ) no new hedging transactions are effected ; ( d ) only mandatory debt repayments are made ; and ( e ) no refinancing occurs at debt maturity .", "( 2 ) amount includes the payment for labor claims related to fis' former item processing and remittance operations in brazil ( see note 3 to the consolidated financial statements ) and amounts due to the brazilian venture partner .", "fis believes that its existing cash balances , cash flows from operations and borrowing programs will provide adequate sources of liquidity and capital resources to meet fis 2019 expected short-term liquidity needs and its long-term needs for the operations of its business , expected capital spending for the next 12 months and the foreseeable future and the satisfaction of these obligations and commitments .", "off-balance sheet arrangements fis does not have any off-balance sheet arrangements .", "item 7a .", "quantitative and qualitative disclosure about market risks market risk we are exposed to market risks primarily from changes in interest rates and foreign currency exchange rates .", "we use certain derivative financial instruments , including interest rate swaps and foreign currency forward exchange contracts , to manage interest rate and foreign currency risk .", "we do not use derivatives for trading purposes , to generate income or to engage in speculative activity .", "interest rate risk in addition to existing cash balances and cash provided by operating activities , we use fixed rate and variable rate debt to finance our operations .", "we are exposed to interest rate risk on these debt obligations and related interest rate swaps .", "the notes ( as defined in note 13 to the consolidated financial statements ) represent substantially all of our fixed-rate long-term debt obligations .", "the carrying value of the notes was $ 1950.0 million as of december 31 , 2012 .", "the fair value of the notes was approximately $ 2138.2 million as of december 31 , 2012 .", "the potential reduction in fair value of the notes from a hypothetical 10 percent increase in market interest rates would not be material to the overall fair value of the debt .", "our floating rate long-term debt obligations principally relate to borrowings under the fis credit agreement ( as also defined in note 13 to the consolidated financial statements ) .", "an increase of 100 basis points in the libor rate would increase our annual debt service under the fis credit agreement , after we include the impact of our interest rate swaps , by $ 9.3 million ( based on principal amounts outstanding as of december 31 , 2012 ) .", "we performed the foregoing sensitivity analysis based on the principal amount of our floating rate debt as of december 31 , 2012 , less the principal amount of such debt that was then subject to an interest rate swap converting such debt into fixed rate debt .", "this sensitivity analysis is based solely on ." ]

[ "contractual obligations fis 2019 long-term contractual obligations generally include its long-term debt , interest on long-term debt , lease payments on certain of its property and equipment and payments for data processing and maintenance .", "for more descriptive information regarding the company's long-term debt , see note 13 in the notes to consolidated financial statements .", "the following table summarizes fis 2019 significant contractual obligations and commitments as of december 31 , 2012 ( in millions ) : less than 1-3 3-5 more than total 1 year years years 5 years ." ]

[ "the long-term debt of total is $ 4385.5 ; the long-term debt of less than 1 year is $ 153.9 ; the long-term debt of 1-3 years is $ 757.1 ; the long-term debt of 3-5 years is $ 2274.5 ; the long-term debt of more than 5 years is $ 1200.0 ;", "the total of total is $ 6097.1 ; the total of less than 1 year is $ 559.8 ; the total of 1-3 years is $ 1357.1 ; the total of 3-5 years is $ 2648.7 ; the total of more than 5 years is $ 1531.5 ;" ]

[ [ "", "total", "less than 1 year", "1-3 years", "3-5 years", "more than 5 years" ], [ "long-term debt", "$ 4385.5", "$ 153.9", "$ 757.1", "$ 2274.5", "$ 1200.0" ], [ "interest ( 1 )", "1137.6", "200.4", "372.9", "288.8", "275.5" ], [ "operating leases", "226.6", "55.0", "96.2", "46.4", "29.0" ], [ "data processing and maintenance", "246.7", "131.7", "78.9", "28.4", "7.7" ], [ "other contractual obligations ( 2 )", "100.7", "18.8", "52.0", "10.6", "19.3" ], [ "total", "$ 6097.1", "$ 559.8", "$ 1357.1", "$ 2648.7", "$ 1531.5" ] ]

[ "the weighted-average grant date fair value of stock options granted during the years ended december 31 , 2010 and 2009 , was $ 11 and $ 7 , per share , respectively. ." ]

[ "tax benefits recognized for stock-based compensation during the years ended december 31 , 2011 , 2010 and 2009 , were $ 16 million , $ 6 million and $ 5 million , respectively .", "the amount of northrop grumman shares issued before the spin-off to satisfy stock-based compensation awards are recorded by northrop grumman and , accordingly , are not reflected in hii 2019s consolidated financial statements .", "the company realized tax benefits during the year ended december 31 , 2011 , of $ 2 million from the exercise of stock options and $ 10 million from the issuance of stock in settlement of rpsrs and rsrs .", "unrecognized compensation expense at december 31 , 2011 there was $ 1 million of unrecognized compensation expense related to unvested stock option awards , which will be recognized over a weighted average period of 1.1 years .", "in addition , at december 31 , 2011 , there was $ 19 million of unrecognized compensation expense associated with the 2011 rsrs , which will be recognized over a period of 2.2 years ; $ 10 million of unrecognized compensation expense associated with the rpsrs converted as part of the spin-off , which will be recognized over a weighted average period of one year ; and $ 18 million of unrecognized compensation expense associated with the 2011 rpsrs which will be recognized over a period of 2.0 years .", "stock options the compensation expense for the outstanding converted stock options was determined at the time of grant by northrop grumman .", "there were no additional options granted during the year ended december 31 , 2011 .", "the fair value of the stock option awards is expensed on a straight-line basis over the vesting period of the options .", "the fair value of each of the stock option award was estimated on the date of grant using a black-scholes option pricing model based on the following assumptions : dividend yield 2014the dividend yield was based on northrop grumman 2019s historical dividend yield level .", "volatility 2014expected volatility was based on the average of the implied volatility from traded options and the historical volatility of northrop grumman 2019s stock .", "risk-free interest rate 2014the risk-free rate for periods within the contractual life of the stock option award was based on the yield curve of a zero-coupon u.s .", "treasury bond on the date the award was granted with a maturity equal to the expected term of the award .", "expected term 2014the expected term of awards granted was derived from historical experience and represents the period of time that awards granted are expected to be outstanding .", "a stratification of expected terms based on employee populations ( executive and non-executive ) was considered in the analysis .", "the following significant weighted-average assumptions were used to value stock options granted during the years ended december 31 , 2010 and 2009: ." ]

[ "in addition , at december 31 , 2011 , there was $ 19 million of unrecognized compensation expense associated with the 2011 rsrs , which will be recognized over a period of 2.2 years ; $ 10 million of unrecognized compensation expense associated with the rpsrs converted as part of the spin-off , which will be recognized over a weighted average period of one year ; and $ 18 million of unrecognized compensation expense associated with the 2011 rpsrs which will be recognized over a period of 2.0 years ." ]

[ [ "", "2010", "2009" ], [ "dividend yield", "2.9% ( 2.9 % )", "3.6% ( 3.6 % )" ], [ "volatility rate", "25% ( 25 % )", "25% ( 25 % )" ], [ "risk-free interest rate", "2.3% ( 2.3 % )", "1.7% ( 1.7 % )" ], [ "expected option life ( years )", "6", "5 & 6" ] ]

[ "( a ) calculation excludes the arkansas , louisiana , and texas securitization bonds , which are non-recourse to entergy arkansas , entergy louisiana , and entergy texas , respectively .", "net debt consists of debt less cash and cash equivalents .", "debt consists of notes payable and commercial paper , capital lease obligations , and long-term debt , including the currently maturing portion .", "capital consists of debt , common shareholders 2019 equity , and subsidiaries 2019 preferred stock without sinking fund .", "net capital consists of capital less cash and cash equivalents .", "entergy uses the debt to capital ratios excluding securitization bonds in analyzing its financial condition and believes they provide useful information to its investors and creditors in evaluating entergy 2019s financial condition because the securitization bonds are non-recourse to entergy , as more fully described in note 5 to the financial statements .", "entergy also uses the net debt to net capital ratio excluding securitization bonds in analyzing its financial condition and believes it provides useful information to its investors and creditors in evaluating entergy 2019s financial condition because net debt indicates entergy 2019s outstanding debt position that could not be readily satisfied by cash and cash equivalents on hand .", "long-term debt , including the currently maturing portion , makes up most of entergy 2019s total debt outstanding .", "following are entergy 2019s long-term debt principal maturities and estimated interest payments as of december 31 , 2013 .", "to estimate future interest payments for variable rate debt , entergy used the rate as of december 31 , 2013 .", "the amounts below include payments on the entergy louisiana and system energy sale-leaseback transactions , which are included in long-term debt on the balance sheet .", "entergy corporation and subsidiaries management's financial discussion and analysis ." ]

[ "human capital management strategic imperative entergy engaged in a strategic imperative intended to optimize the organization through a process known as human capital management .", "in july 2013 management completed a comprehensive review of entergy 2019s organization design and processes .", "this effort resulted in a new internal organization structure , which resulted in the elimination of approximately 800 employee positions .", "entergy incurred approximately $ 110 million in costs in 2013 associated with this phase of human capital management , primarily implementation costs , severance expenses , pension curtailment losses , special termination benefits expense , and corporate property , plant , and equipment impairments .", "in december 2013 , entergy deferred for future recovery approximately $ 45 million of these costs , as approved by the apsc and the lpsc .", "see note 2 to the financial statements for details of the deferrals and note 13 to the financial statements for details of the restructuring charges .", "liquidity and capital resources this section discusses entergy 2019s capital structure , capital spending plans and other uses of capital , sources of capital , and the cash flow activity presented in the cash flow statement .", "capital structure entergy 2019s capitalization is balanced between equity and debt , as shown in the following table. ." ]

[ "the debt to capital of 2013 is 57.9% ( 57.9 % ) ; the debt to capital of 2012 is 58.7% ( 58.7 % ) ;" ]

[ [ "", "2013", "2012" ], [ "debt to capital", "57.9% ( 57.9 % )", "58.7% ( 58.7 % )" ], [ "effect of excluding securitization bonds", "( 1.6% ( 1.6 % ) )", "( 1.8% ( 1.8 % ) )" ], [ "debt to capital excluding securitization bonds ( a )", "56.3% ( 56.3 % )", "56.9% ( 56.9 % )" ], [ "effect of subtracting cash", "( 1.5% ( 1.5 % ) )", "( 1.1% ( 1.1 % ) )" ], [ "net debt to net capital excluding securitization bonds ( a )", "54.8% ( 54.8 % )", "55.8% ( 55.8 % )" ] ]

[ "during the fourth quarter of 2014 , 2013 and 2012 , we performed the annual impairment review of pullmantur 2019s trademarks and trade names using a discounted cash flow model and the relief-from-royalty method to compare the fair value of these indefinite-lived intan- gible assets to its carrying value .", "the royalty rate used is based on comparable royalty agreements in the tourism and hospitality industry .", "we used a dis- count rate comparable to the rate used in valuing the pullmantur reporting unit in our goodwill impairment test .", "based on the results of our testing , we did not ." ]

[ "royal caribbean cruises ltd .", "79 notes to the consolidated financial statements in 2012 , we determined the implied fair value of good- will for the pullmantur reporting unit was $ 145.5 mil- lion and recognized an impairment charge of $ 319.2 million based on a probability-weighted discounted cash flow model further discussed below .", "this impair- ment charge was recognized in earnings during the fourth quarter of 2012 and is reported within impair- ment of pullmantur related assets within our consoli- dated statements of comprehensive income ( loss ) .", "during the fourth quarter of 2014 , we performed a qualitative assessment of whether it was more-likely- than-not that our royal caribbean international reporting unit 2019s fair value was less than its carrying amount before applying the two-step goodwill impair- ment test .", "the qualitative analysis included assessing the impact of certain factors such as general economic conditions , limitations on accessing capital , changes in forecasted operating results , changes in fuel prices and fluctuations in foreign exchange rates .", "based on our qualitative assessment , we concluded that it was more-likely-than-not that the estimated fair value of the royal caribbean international reporting unit exceeded its carrying value and thus , we did not pro- ceed to the two-step goodwill impairment test .", "no indicators of impairment exist primarily because the reporting unit 2019s fair value has consistently exceeded its carrying value by a significant margin , its financial performance has been solid in the face of mixed economic environments and forecasts of operating results generated by the reporting unit appear suffi- cient to support its carrying value .", "we also performed our annual impairment review of goodwill for pullmantur 2019s reporting unit during the fourth quarter of 2014 .", "we did not perform a quali- tative assessment but instead proceeded directly to the two-step goodwill impairment test .", "we estimated the fair value of the pullmantur reporting unit using a probability-weighted discounted cash flow model .", "the principal assumptions used in the discounted cash flow model are projected operating results , weighted- average cost of capital , and terminal value .", "signifi- cantly impacting these assumptions are the transfer of vessels from our other cruise brands to pullmantur .", "the discounted cash flow model used our 2015 pro- jected operating results as a base .", "to that base , we added future years 2019 cash flows assuming multiple rev- enue and expense scenarios that reflect the impact of different global economic environments beyond 2015 on pullmantur 2019s reporting unit .", "we assigned a probability to each revenue and expense scenario .", "we discounted the projected cash flows using rates specific to pullmantur 2019s reporting unit based on its weighted-average cost of capital .", "based on the probability-weighted discounted cash flows , we deter- mined the fair value of the pullmantur reporting unit exceeded its carrying value by approximately 52% ( 52 % ) resulting in no impairment to pullmantur 2019s goodwill .", "pullmantur is a brand targeted primarily at the spanish , portuguese and latin american markets , with an increasing focus on latin america .", "the persistent economic instability in these markets has created sig- nificant uncertainties in forecasting operating results and future cash flows used in our impairment analyses .", "we continue to monitor economic events in these markets for their potential impact on pullmantur 2019s business and valuation .", "further , the estimation of fair value utilizing discounted expected future cash flows includes numerous uncertainties which require our significant judgment when making assumptions of expected revenues , operating costs , marketing , sell- ing and administrative expenses , interest rates , ship additions and retirements as well as assumptions regarding the cruise vacation industry 2019s competitive environment and general economic and business conditions , among other factors .", "if there are changes to the projected future cash flows used in the impairment analyses , especially in net yields or if certain transfers of vessels from our other cruise brands to the pullmantur fleet do not take place , it is possible that an impairment charge of pullmantur 2019s reporting unit 2019s goodwill may be required .", "of these factors , the planned transfers of vessels to the pullmantur fleet is most significant to the projected future cash flows .", "if the transfers do not occur , we will likely fail step one of the impairment test .", "note 4 .", "intangible assets intangible assets are reported in other assets in our consolidated balance sheets and consist of the follow- ing ( in thousands ) : ." ]

[ "the foreign currency translation adjustment of 2014 is -26074 ( 26074 ) ; the foreign currency translation adjustment of 2013 is 9246 ;", "intangible assets intangible assets are reported in other assets in our consolidated balance sheets and consist of the follow- ing ( in thousands ) : ." ]

[ [ "", "2014", "2013" ], [ "indefinite-life intangible asset 2014pullmantur trademarks and trade names", "$ 214112", "$ 204866" ], [ "foreign currency translation adjustment", "-26074 ( 26074 )", "9246" ], [ "total", "$ 188038", "$ 214112" ] ]

[ "capital expenditures our rail network requires significant annual capital investments for replacement , improvement , and expansion .", "these investments enhance safety , support the transportation needs of our customers , and improve our operational efficiency .", "additionally , we add new locomotives and freight cars to our fleet to replace older , less efficient equipment , to support growth and customer demand , and to reduce our impact on the environment through the acquisition of more fuel-efficient and low-emission locomotives .", "2014 capital program 2013 during 2014 , our capital program totaled $ 4.1 billion .", "( see the cash capital expenditures table in management 2019s discussion and analysis of financial condition and results of operations 2013 liquidity and capital resources 2013 financial condition , item 7. ) 2015 capital plan 2013 in 2015 , we expect our capital plan to be approximately $ 4.3 billion , which will include expenditures for ptc of approximately $ 450 million and may include non-cash investments .", "we may revise our 2015 capital plan if business conditions warrant or if new laws or regulations affect our ability to generate sufficient returns on these investments .", "( see discussion of our 2015 capital plan in management 2019s discussion and analysis of financial condition and results of operations 2013 2015 outlook , item 7. ) equipment encumbrances 2013 equipment with a carrying value of approximately $ 2.8 billion and $ 2.9 billion at december 31 , 2014 , and 2013 , respectively served as collateral for capital leases and other types of equipment obligations in accordance with the secured financing arrangements utilized to acquire or refinance such railroad equipment .", "as a result of the merger of missouri pacific railroad company ( mprr ) with and into uprr on january 1 , 1997 , and pursuant to the underlying indentures for the mprr mortgage bonds , uprr must maintain the same value of assets after the merger in order to comply with the security requirements of the mortgage bonds .", "as of the merger date , the value of the mprr assets that secured the mortgage bonds was approximately $ 6.0 billion .", "in accordance with the terms of the indentures , this collateral value must be maintained during the entire term of the mortgage bonds irrespective of the outstanding balance of such bonds .", "environmental matters 2013 certain of our properties are subject to federal , state , and local laws and regulations governing the protection of the environment .", "( see discussion of environmental issues in business 2013 governmental and environmental regulation , item 1 , and management 2019s discussion and analysis of financial condition and results of operations 2013 critical accounting policies 2013 environmental , item 7. ) item 3 .", "legal proceedings from time to time , we are involved in legal proceedings , claims , and litigation that occur in connection with our business .", "we routinely assess our liabilities and contingencies in connection with these matters based upon the latest available information and , when necessary , we seek input from our third-party advisors when making these assessments .", "consistent with sec rules and requirements , we describe below material pending legal proceedings ( other than ordinary routine litigation incidental to our business ) , material proceedings known to be contemplated by governmental authorities , other proceedings arising under federal , state , or local environmental laws and regulations ( including governmental proceedings involving potential fines , penalties , or other monetary sanctions in excess of $ 100000 ) , and such other pending matters that we may determine to be appropriate. ." ]

[ "average age ( yrs. ) highway revenue equipment owned leased total ." ]

[ "( see the cash capital expenditures table in management 2019s discussion and analysis of financial condition and results of operations 2013 liquidity and capital resources 2013 financial condition , item 7. ) 2015 capital plan 2013 in 2015 , we expect our capital plan to be approximately $ 4.3 billion , which will include expenditures for ptc of approximately $ 450 million and may include non-cash investments ." ]

[ [ "highway revenue equipment", "owned", "leased", "total", "averageage ( yrs. )" ], [ "containers", "26629", "28306", "54935", "7.1" ], [ "chassis", "15182", "25951", "41133", "8.9" ], [ "total highway revenue equipment", "41811", "54257", "96068", "n/a" ] ]

[ "note 9 2013 fair value measurements the company uses the fair value hierarchy , which prioritizes the inputs used to measure the fair value of certain of its financial instruments .", "the hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities ( level 1 measurement ) and the lowest priority to unobservable inputs ( level 3 measurement ) .", "the three levels of the fair value hierarchy are set forth below : 2022 level 1 2013 quoted prices are available in active markets for identical assets or liabilities as of the reporting date .", "active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis .", "2022 level 2 2013 pricing inputs are other than quoted prices in active markets included in level 1 , which are either directly or indirectly observable as of the reporting date .", "level 2 includes those financial instruments that are valued using models or other valuation methodologies .", "these models are primarily industry-standard models that consider various assumptions , including time value , volatility factors , and current market and contractual prices for the underlying instruments , as well as other relevant economic measures .", "substantially all of these assumptions are observable in the marketplace throughout the full term of the instrument , can be derived from observable data or are supported by observable levels at which transactions are executed in the marketplace .", "2022 level 3 2013 pricing inputs include significant inputs that are generally less observable from objective sources .", "these inputs may be used with internally developed methodologies that result in management 2019s best estimate of fair value from the perspective of a market participant .", "the fair value of the interest rate swap transactions are based on the discounted net present value of the swap using third party quotes ( level 2 ) .", "changes in fair market value are recorded in other comprehensive income ( loss ) , and changes resulting from ineffectiveness are recorded in current earnings .", "assets and liabilities measured at fair value are based on one or more of three valuation techniques .", "the three valuation techniques are identified in the table below and are as follows : a ) market approach 2013 prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities b ) cost approach 2013 amount that would be required to replace the service capacity of an asset ( replacement cost ) c ) income approach 2013 techniques to convert future amounts to a single present amount based on market expectations ( including present value techniques , option-pricing and excess earnings models ) ." ]

[ "the table below represents unrealized losses related to derivative amounts included in 201caccumulated other comprehensive loss 201d for the years ended december 31 , ( in thousands ) : balance in accumulated other comprehensive loss ." ]

[ "contract type the interest rate swaps of balance in accumulated other comprehensive loss 2009 is $ 13053 ; the interest rate swaps of balance in accumulated other comprehensive loss 2008 is $ 18874 ;" ]

[ [ "contract type", "balance in accumulated other comprehensive loss 2009", "balance in accumulated other comprehensive loss 2008" ], [ "interest rate swaps", "$ 13053", "$ 18874" ] ]

[ "in addition , the company has mexican tax credits of $ 5.2 million which if not utilized would expire in 2017. ." ]

[ "american tower corporation and subsidiaries notes to consolidated financial statements the valuation allowance increased from $ 47.8 million as of december 31 , 2009 to $ 48.2 million as of december 31 , 2010 .", "the increase was primarily due to valuation allowances on foreign loss carryforwards .", "at december 31 , 2010 , the company has provided a valuation allowance of approximately $ 48.2 million which primarily relates to state net operating loss carryforwards , equity investments and foreign items .", "the company has not provided a valuation allowance for the remaining deferred tax assets , primarily its federal net operating loss carryforwards , as management believes the company will have sufficient taxable income to realize these federal net operating loss carryforwards during the twenty-year tax carryforward period .", "valuation allowances may be reversed if related deferred tax assets are deemed realizable based on changes in facts and circumstances relevant to the assets 2019 recoverability .", "the recoverability of the company 2019s remaining net deferred tax asset has been assessed utilizing projections based on its current operations .", "the projections show a significant decrease in depreciation in the later years of the carryforward period as a result of a significant portion of its assets being fully depreciated during the first fifteen years of the carryforward period .", "accordingly , the recoverability of the net deferred tax asset is not dependent on material improvements to operations , material asset sales or other non-routine transactions .", "based on its current outlook of future taxable income during the carryforward period , management believes that the net deferred tax asset will be realized .", "the company 2019s deferred tax assets as of december 31 , 2010 and 2009 in the table above do not include $ 122.1 million and $ 113.9 million , respectively , of excess tax benefits from the exercises of employee stock options that are a component of net operating losses .", "total stockholders 2019 equity as of december 31 , 2010 will be increased by $ 122.1 million if and when any such excess tax benefits are ultimately realized .", "at december 31 , 2010 , the company had net federal and state operating loss carryforwards available to reduce future federal and state taxable income of approximately $ 1.2 billion , including losses related to employee stock options of $ 0.3 billion .", "if not utilized , the company 2019s net operating loss carryforwards expire as follows ( in thousands ) : ." ]

[ "at december 31 , 2010 , the company had net federal and state operating loss carryforwards available to reduce future federal and state taxable income of approximately $ 1.2 billion , including losses related to employee stock options of $ 0.3 billion ." ]

[ [ "years ended december 31,", "federal", "state", "foreign" ], [ "2011 to 2015", "$ 2014", "$ 2014", "$ 503" ], [ "2016 to 2020", "2014", "331315", "5509" ], [ "2021 to 2025", "774209", "576780", "2014" ], [ "2026 to 2030", "423398", "279908", "92412" ], [ "total", "$ 1197607", "$ 1188003", "$ 98424" ] ]

[ "18 .", "stock compensation plans on may 18 , 2000 , the shareholders of the hartford approved the hartford incentive stock plan ( the 201c2000 plan 201d ) , which replaced the hartford 1995 incentive stock plan ( the 201c1995 plan 201d ) .", "the terms of the 2000 plan were substantially similar to the terms of the 1995 plan except that the 1995 plan had an annual award limit and a higher maximum award limit .", "under the 2000 plan , awards may be granted in the form of non-qualified or incentive stock options qualifying under section 422a of the internal revenue code , performance shares or restricted stock , or any combination of the foregoing .", "in addition , stock appreciation rights may be granted in connection with all or part of any stock options granted under the 2000 plan .", "in december 2004 , the 2000 plan was amended to allow for grants of restricted stock units effective as of january 1 , 2005 .", "the aggregate number of shares of stock , which may be awarded , is subject to a maximum limit of 17211837 shares applicable to all awards for the ten-year duration of the 2000 plan .", "all options granted have an exercise price equal to the market price of the company 2019s common stock on the date of grant , and an option 2019s maximum term is ten years and two days .", "certain options become exercisable over a three year period commencing one year from the date of grant , while certain other options become exercisable upon the attainment of specified market price appreciation of the company 2019s common shares .", "for any year , no individual employee may receive an award of options for more than 1000000 shares .", "as of december 31 , 2004 , the hartford had not issued any incentive stock options under the 2000 plan .", "performance awards of common stock granted under the 2000 plan become payable upon the attainment of specific performance goals achieved over a period of not less than one nor more than five years , and the restricted stock granted is subject to a restriction period .", "on a cumulative basis , no more than 20% ( 20 % ) of the aggregate number of shares which may be awarded under the 2000 plan are available for performance shares and restricted stock awards .", "also , the maximum award of performance shares for any individual employee in any year is 200000 shares .", "in 2004 , 2003 and 2002 , the company granted shares of common stock of 315452 , 333712 and 40852 with weighted average prices of $ 64.93 , $ 38.13 and $ 62.28 , respectively , related to performance share and restricted stock awards .", "in 1996 , the company established the hartford employee stock purchase plan ( 201cespp 201d ) .", "under this plan , eligible employees of the hartford may purchase common stock of the company at a 15% ( 15 % ) discount from the lower of the closing market price at the beginning or end of the quarterly offering period .", "the company may sell up to 5400000 shares of stock to eligible employees under the espp .", "in 2004 , 2003 and 2002 , 345262 , 443467 and 408304 shares were sold , respectively .", "the per share weighted average fair value of the discount under the espp was $ 9.31 , $ 11.96 , and $ 11.70 in 2004 , 2003 and 2002 , respectively .", "additionally , during 1997 , the hartford established employee stock purchase plans for certain employees of the company 2019s international subsidiaries .", "under these plans , participants may purchase common stock of the hartford at a fixed price at the end of a three-year period .", "the activity under these programs is not material. ." ]

[ "notes to consolidated financial statements ( continued ) 17 .", "pension plans and postretirement health care and life insurance benefit plans ( continued ) benefit payments the following table sets forth amounts of benefits expected to be paid over the next ten years from the company 2019s pension and postretirement plans as of december 31 , 2004: ." ]

[ "the 2007 of pension benefits is 143 ; the 2007 of other postretirement benefits is 31 ;" ]

[ [ "", "pension benefits", "other postretirement benefits" ], [ "2005", "$ 125", "$ 30" ], [ "2006", "132", "31" ], [ "2007", "143", "31" ], [ "2008", "154", "33" ], [ "2009", "166", "34" ], [ "2010-2014", "1052", "193" ], [ "total", "$ 1772", "$ 352" ] ]

[ "entergy wholesale commodities also includes the ownership of two non-operating nuclear facilities , big rock point in michigan and indian point 1 in new york that were acquired when entergy purchased the palisades and indian point 2 nuclear plants , respectively .", "these facilities are in various stages of the decommissioning process .", "the nrc operating license for vermont yankee was to expire in march 2012 .", "in march 2011 the nrc renewed vermont yankee 2019s operating license for an additional 20 years , as a result of which the license now expires in 2032 .", "for additional discussion regarding the continued operation of the vermont yankee plant , see 201cimpairment of long-lived assets 201d in note 1 to the financial statements .", "the operating licenses for pilgrim , indian point 2 , and indian point 3 expire between 2012 and 2015 .", "under federal law , nuclear power plants may continue to operate beyond their license expiration dates while their renewal applications are pending nrc approval .", "various parties have expressed opposition to renewal of the licenses .", "with respect to the pilgrim license renewal , the atomic safety and licensing board ( aslb ) of the nrc , after issuing an order denying a new hearing request , terminated its proceeding on pilgrim 2019s license renewal application .", "with the aslb process concluded the proceeding , including appeals of certain aslb decisions , is now before the nrc .", "in april 2007 , entergy submitted an application to the nrc to renew the operating licenses for indian point 2 and 3 for an additional 20 years .", "the aslb has admitted 21 contentions raised by the state of new york or other parties , which were combined into 16 discrete issues .", "two of the issues have been resolved , leaving 14 issues that are currently subject to aslb hearings .", "in july 2011 , the aslb granted the state of new york 2019s motion for summary disposition of an admitted contention challenging the adequacy of a section of indian point 2019s environmental analysis as incorporated in the fseis ( discussed below ) .", "that section provided cost estimates for severe accident mitigation alternatives ( samas ) , which are hardware and procedural changes that could be ." ]

[ "part i item 1 entergy corporation , utility operating companies , and system energy entergy wholesale commodities during 2010 entergy integrated its non-utility nuclear and its non-nuclear wholesale assets businesses into a new organization called entergy wholesale commodities .", "entergy wholesale commodities includes the ownership and operation of six nuclear power plants , five of which are located in the northeast united states , with the sixth located in michigan , and is primarily focused on selling electric power produced by those plants to wholesale customers .", "entergy wholesale commodities 2019 revenues are primarily derived from sales of energy and generation capacity from these plants .", "entergy wholesale commodities also provides operations and management services , including decommissioning services , to nuclear power plants owned by other utilities in the united states .", "entergy wholesale commodities also includes the ownership of , or participation in joint ventures that own , non-nuclear power plants and the sale to wholesale customers of the electric power produced by these plants .", "property nuclear generating stations entergy wholesale commodities includes the ownership of the following nuclear power plants : power plant market service acquired location capacity- reactor type license expiration ." ]

[ "power plant the pilgrim of market is is0-ne ; the pilgrim of inserviceyear is 1972 ; the pilgrim of acquired is july 1999 ; the pilgrim of location is plymouth ma ; the pilgrim of capacity-reactor type is 688 mw - boiling water ; the pilgrim of licenseexpirationdate is 2012 ;" ]

[ [ "power plant", "market", "inserviceyear", "acquired", "location", "capacity-reactor type", "licenseexpirationdate" ], [ "pilgrim", "is0-ne", "1972", "july 1999", "plymouth ma", "688 mw - boiling water", "2012" ], [ "fitzpatrick", "nyiso", "1975", "nov . 2000", "oswego ny", "838 mw - boiling water", "2034" ], [ "indian point 3", "nyiso", "1976", "nov . 2000", "buchanan ny", "1041 mw - pressurized water", "2015" ], [ "indian point 2", "nyiso", "1974", "sept . 2001", "buchanan ny", "1028 mw - pressurized water", "2013" ], [ "vermont yankee", "is0-ne", "1972", "july 2002", "vernon vt", "605 mw - boiling water", "2032" ], [ "palisades", "miso", "1971", "apr . 2007", "south haven mi", "811 mw - pressurized water", "2031" ] ]

[ "( a ) includes collateral related to derivative instruments where appropriate legal opinions have not been either sought or obtained with respect to master netting agreements .", "the fair value of derivative receivables reported on the consolidated balance sheets were $ 54.2 billion and $ 56.5 billion at december 31 , 2018 and 2017 , respectively .", "derivative receivables represent the fair value of the derivative contracts after giving effect to legally enforceable master netting agreements and cash collateral held by the firm .", "however , in management 2019s view , the appropriate measure of current credit risk should also take into consideration additional liquid securities ( primarily u.s .", "government and agency securities and other group of seven nations ( 201cg7 201d ) government securities ) and other cash collateral held by the firm aggregating $ 15.3 billion and $ 16.1 billion at december 31 , 2018 and 2017 , respectively , that may be used as security when the fair value of the client 2019s exposure is in the firm 2019s favor .", "in addition to the collateral described in the preceding paragraph , the firm also holds additional collateral ( primarily cash , g7 government securities , other liquid government-agency and guaranteed securities , and corporate debt and equity securities ) delivered by clients at the initiation of transactions , as well as collateral related to contracts that have a non-daily call frequency and collateral that the firm has agreed to return but has not yet settled as of the reporting date .", "although this collateral does not reduce the balances and is not included in the table above , it is available as security against potential exposure that could arise should the fair value of the client 2019s derivative contracts move in the firm 2019s favor .", "the derivative receivables fair value , net of all collateral , also does not include other credit enhancements , such as letters of credit .", "for additional information on the firm 2019s use of collateral agreements , refer to note 5 .", "while useful as a current view of credit exposure , the net fair value of the derivative receivables does not capture the potential future variability of that credit exposure .", "to capture the potential future variability of credit exposure , the firm calculates , on a client-by-client basis , three measures of potential derivatives-related credit loss : peak , derivative risk equivalent ( 201cdre 201d ) , and average exposure ( 201cavg 201d ) .", "these measures all incorporate netting and collateral benefits , where applicable .", "peak represents a conservative measure of potential exposure to a counterparty calculated in a manner that is broadly equivalent to a 97.5% ( 97.5 % ) confidence level over the life of the transaction .", "peak is the primary measure used by the firm for setting of credit limits for derivative contracts , senior management reporting and derivatives exposure management .", "dre exposure is a measure that expresses the risk of derivative exposure on a basis intended to be ." ]

[ "jpmorgan chase & co./2018 form 10-k 117 lending-related commitments the firm uses lending-related financial instruments , such as commitments ( including revolving credit facilities ) and guarantees , to address the financing needs of its clients .", "the contractual amounts of these financial instruments represent the maximum possible credit risk should the clients draw down on these commitments or the firm fulfill its obligations under these guarantees , and the clients subsequently fail to perform according to the terms of these contracts .", "most of these commitments and guarantees are refinanced , extended , cancelled , or expire without being drawn upon or a default occurring .", "in the firm 2019s view , the total contractual amount of these wholesale lending-related commitments is not representative of the firm 2019s expected future credit exposure or funding requirements .", "for further information on wholesale lending-related commitments , refer to note 27 .", "clearing services the firm provides clearing services for clients entering into certain securities and derivative contracts .", "through the provision of these services the firm is exposed to the risk of non-performance by its clients and may be required to share in losses incurred by ccps .", "where possible , the firm seeks to mitigate its credit risk to its clients through the collection of adequate margin at inception and throughout the life of the transactions and can also cease provision of clearing services if clients do not adhere to their obligations under the clearing agreement .", "for further discussion of clearing services , refer to note 27 .", "derivative contracts derivatives enable clients and counterparties to manage risks including credit risk and risks arising from fluctuations in interest rates , foreign exchange , equities , and commodities .", "the firm makes markets in derivatives in order to meet these needs and uses derivatives to manage certain risks associated with net open risk positions from its market-making activities , including the counterparty credit risk arising from derivative receivables .", "the firm also uses derivative instruments to manage its own credit and other market risk exposure .", "the nature of the counterparty and the settlement mechanism of the derivative affect the credit risk to which the firm is exposed .", "for otc derivatives the firm is exposed to the credit risk of the derivative counterparty .", "for exchange-traded derivatives ( 201cetd 201d ) , such as futures and options , and 201ccleared 201d over-the-counter ( 201cotc-cleared 201d ) derivatives , the firm is generally exposed to the credit risk of the relevant ccp .", "where possible , the firm seeks to mitigate its credit risk exposures arising from derivative contracts through the use of legally enforceable master netting arrangements and collateral agreements .", "for a further discussion of derivative contracts , counterparties and settlement types , refer to note 5 .", "the following table summarizes the net derivative receivables for the periods presented .", "derivative receivables ." ]

[ "december 31 ( in millions ) the total net of cash collateral of 2018 is $ 54213 ; the total net of cash collateral of 2017 is $ 56523 ;" ]

[ [ "december 31 ( in millions )", "2018", "2017" ], [ "total net of cash collateral", "$ 54213", "$ 56523" ], [ "liquid securities and other cash collateral held against derivative receivables ( a )", "-15322 ( 15322 )", "-16108 ( 16108 )" ], [ "total net of all collateral", "$ 38891", "$ 40415" ] ]

[ "( 1 ) long-term debt excludes capital lease obligations ( presented as a separate line item ) and the effect of interest-rate swaps .", "interest payments were calculated at the stated rate with the exception of floating-rate debt , for which payments were calculated using the indexed rate in effect as of december 31 , 2011 .", "the obligations presented in the table above are recorded in our consolidated statement of condition at december 31 , 2011 , except for interest on long-term debt and capital lease obligations .", "the table does not include obligations which will be settled in cash , primarily in less than one year , such as deposits , federal funds purchased , securities sold under repurchase agreements and other short-term borrowings .", "additional information about deposits , federal funds purchased , securities sold under repurchase agreements and other short-term borrowings is provided in notes 7 and 8 to the consolidated financial statements included under item 8 .", "the table does not include obligations related to derivative instruments , because the amounts included in our consolidated statement of condition at december 31 , 2011 related to derivatives do not represent the amounts that may ultimately be paid under the contracts upon settlement .", "additional information about derivative contracts is provided in note 16 to the consolidated financial statements included under item 8 .", "we have obligations under pension and other post-retirement benefit plans , more fully described in note 18 to the consolidated financial statements included under item 8 , which are not included in the above table .", "additional information about contractual cash obligations related to long-term debt and operating and capital leases is provided in notes 9 and 19 to the consolidated financial statements included under item 8 .", "the consolidated statement of cash flows , also included under item 8 , provides additional liquidity information. ." ]

[ "we maintain an effective universal shelf registration that allows for the public offering and sale of debt securities , capital securities , common stock , depositary shares and preferred stock , and warrants to purchase such securities , including any shares into which the preferred stock and depositary shares may be convertible , or any combination thereof .", "we have , as discussed previously , issued in the past , and we may issue in the future , securities pursuant to the shelf registration .", "the issuance of debt or equity securities will depend on future market conditions , funding needs and other factors .", "additional information about debt and equity securities issued pursuant to this shelf registration is provided in notes 9 and 12 to the consolidated financial statements included under item 8 .", "we currently maintain a corporate commercial paper program , under which we can issue up to $ 3 billion with original maturities of up to 270 days from the date of issue .", "at december 31 , 2011 , we had $ 2.38 billion of commercial paper outstanding , compared to $ 2.80 billion at december 31 , 2010 .", "additional information about our corporate commercial paper program is provided in note 8 to the consolidated financial statements included under item 8 .", "state street bank had initial board authority to issue bank notes up to an aggregate of $ 5 billion , including up to $ 1 billion of subordinated bank notes .", "approximately $ 2.05 billion was available under this board authority as of december 31 , 2011 .", "in 2011 , $ 2.45 billion of senior notes , which were outstanding at december 31 , 2010 , matured .", "state street bank currently maintains a line of credit with a financial institution of cad $ 800 million , or approximately $ 787 million as of december 31 , 2011 , to support its canadian securities processing operations .", "the line of credit has no stated termination date and is cancelable by either party with prior notice .", "as of december 31 , 2011 , no balance was outstanding on this line of credit .", "contractual cash obligations ." ]

[ "as of december 31 2011 ( in millions ) the total contractual cash obligations of payments due by period total is $ 11394 ; the total contractual cash obligations of payments due by period less than 1 year is $ 2278 ; the total contractual cash obligations of payments due by period 1-3 years is $ 1694 ; the total contractual cash obligations of payments due by period 4-5 years is $ 2310 ; the total contractual cash obligations of payments due by period over 5 years is $ 5112 ;" ]

[ [ "as of december 31 2011 ( in millions )", "payments due by period total", "payments due by period less than 1 year", "payments due by period 1-3 years", "payments due by period 4-5 years", "payments due by period over 5 years" ], [ "long-term debt ( 1 )", "$ 9276", "$ 1973", "$ 1169", "$ 1944", "$ 4190" ], [ "operating leases", "1129", "237", "389", "228", "275" ], [ "capital lease obligations", "989", "68", "136", "138", "647" ], [ "total contractual cash obligations", "$ 11394", "$ 2278", "$ 1694", "$ 2310", "$ 5112" ] ]