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[ "at december 31 , 2011 , the assets acquired and liabilities assumed in the acquisition were recorded at provisional amounts based on the preliminary purchase price allocation .", "the company is in the process of obtaining additional information to identify and measure all assets acquired and liabilities assumed in the acquisition within the measurement period , which could be up to one year from the date of acquisition .", "such provisional amounts will be retrospectively adjusted to reflect any new information about facts and circumstances that existed at the acquisition date that , if known , would have affected the measurement of these amounts .", "additionally , key input assumptions and their sensitivity to the valuation of assets acquired and liabilities assumed are currently being reviewed by management .", "it is likely that the value of the generation business related property , plant and equipment , the intangible asset related to the electric security plan with its regulated customers and long-term coal contracts , the 4.9% ( 4.9 % ) equity ownership interest in the ohio valley electric corporation , and deferred taxes could change as the valuation process is finalized .", "dpler , dpl 2019s wholly-owned competitive retail electric service ( 201ccres 201d ) provider , will also likely have changes in its initial purchase price allocation for the valuation of its intangible assets for the trade name , and customer relationships and contracts .", "as noted in the table above , the preliminary purchase price allocation has resulted in the recognition of $ 2.5 billion of goodwill .", "factors primarily contributing to a price in excess of the fair value of the net tangible and intangible assets include , but are not limited to : the ability to expand the u.s .", "utility platform in the mid-west market , the ability to capitalize on utility management experience gained from ipl , enhanced ability to negotiate with suppliers of fuel and energy , the ability to capture value associated with aes 2019 u.s .", "tax position , a well- positioned generating fleet , the ability of dpl to leverage its assembled workforce to take advantage of growth opportunities , etc .", "our ability to realize the benefit of dpl 2019s goodwill depends on the realization of expected benefits resulting from a successful integration of dpl into aes 2019 existing operations and our ability to respond to the changes in the ohio utility market .", "for example , utilities in ohio continue to face downward pressure on operating margins due to the evolving regulatory environment , which is moving towards a market-based competitive pricing mechanism .", "at the same time , the declining energy prices are also reducing operating ." ]

[ "the aes corporation notes to consolidated financial statements 2014 ( continued ) december 31 , 2011 , 2010 , and 2009 the preliminary allocation of the purchase price to the fair value of assets acquired and liabilities assumed is as follows ( in millions ) : ." ]

[ "cash the accounts receivable of $ 116 is 278 ;", "cash the inventory of $ 116 is 124 ;", "cash the other current assets of $ 116 is 41 ;" ]

[ [ "cash", "$ 116" ], [ "accounts receivable", "278" ], [ "inventory", "124" ], [ "other current assets", "41" ], [ "property plant and equipment", "2549" ], [ "intangible assets subject to amortization", "166" ], [ "intangible assets 2014indefinite-lived", "5" ], [ "regulatory assets", "201" ], [ "other noncurrent assets", "58" ], [ "current liabilities", "-401 ( 401 )" ], [ "non-recourse debt", "-1255 ( 1255 )" ], [ "deferred taxes", "-558 ( 558 )" ], [ "regulatory liabilities", "-117 ( 117 )" ], [ "other noncurrent liabilities", "-195 ( 195 )" ], [ "redeemable preferred stock", "-18 ( 18 )" ], [ "net identifiable assets acquired", "994" ], [ "goodwill", "2489" ], [ "net assets acquired", "$ 3483" ] ]

[ "base rates increased net revenue due to base rate increases at entergy mississippi and entergy new orleans that became effective in january 2003 and june 2003 , respectively .", "entergy gulf states implemented base rate decreases in its louisiana jurisdiction effective june 2002 and january 2003 .", "the january 2003 base rate decrease of $ 22.1 million had a minimal impact on net income due to a corresponding reduction in nuclear depreciation and decommissioning expenses associated with the change in accounting estimate to reflect an assumed extension of river bend's useful life .", "the deferred fuel cost revisions variance was due to a revised unbilled sales pricing estimate made in december 2002 and further revision of that estimate in the first quarter of 2003 to more closely align the fuel component of that pricing with expected recoverable fuel costs at entergy louisiana .", "the asset retirement obligation variance was due to the implementation of sfas 143 , \"accounting for asset retirement obligations\" adopted in january 2003 .", "see \"critical accounting estimates 2013 nuclear decommissioning costs\" for more details on sfas 143 .", "the increase was offset by increased depreciation and decommissioning expenses and had an insignificant effect on net income .", "the increase in net wholesale revenue was primarily due to an increase in sales volume to municipal and cooperative customers .", "the march 2002 settlement agreement variance reflects the absence in 2003 of the effect of recording the ice storm settlement approved by the apsc in 2002 .", "this settlement resulted in previously deferred revenues at entergy arkansas per the transition cost account mechanism being recorded in net revenue in the second quarter of 2002 .", "the decrease was offset by a corresponding decrease in other operation and maintenance expenses and had a minimal effect on net income .", "gross operating revenues and regulatory credits gross operating revenues include an increase in fuel cost recovery revenues of $ 682 million and $ 53 million in electric and gas sales , respectively , primarily due to higher fuel rates in 2003 resulting from increases in the market prices of purchased power and natural gas .", "as such , this revenue increase was offset by increased fuel and purchased power expenses. ." ]

[ "entergy corporation and subsidiaries management's financial discussion and analysis 2022 the deferral in august 2004 of $ 7.5 million of fossil plant maintenance and voluntary severance program costs at entergy new orleans as a result of a stipulation approved by the city council .", "2003 compared to 2002 net revenue , which is entergy's measure of gross margin , consists of operating revenues net of : 1 ) fuel , fuel-related , and purchased power expenses and 2 ) other regulatory credits .", "following is an analysis of the change in net revenue comparing 2003 to 2002. ." ]

[ "the 2002 net revenue of ( in millions ) is $ 4209.6 ;", "the 2003 net revenue of ( in millions ) is $ 4214.5 ;" ]

[ [ "", "( in millions )" ], [ "2002 net revenue", "$ 4209.6" ], [ "base rate increases", "66.2" ], [ "base rate decreases", "-23.3 ( 23.3 )" ], [ "deferred fuel cost revisions", "56.2" ], [ "asset retirement obligation", "42.9" ], [ "net wholesale revenue", "23.2" ], [ "march 2002 ark . settlement agreement", "-154.0 ( 154.0 )" ], [ "other", "-6.3 ( 6.3 )" ], [ "2003 net revenue", "$ 4214.5" ] ]

[ "we grant various share-based awards pursuant to the plans under what we refer to as our 201clong-term incentive plan . 201d the awards are held in escrow and released upon the grantee 2019s satisfaction of conditions of the award certificate .", "restricted stock restricted stock awards vest over a period of time , provided , however , that if the grantee is not employed by us on the vesting date , the shares are forfeited .", "restricted shares cannot be sold or transferred until they have vested .", "restricted stock granted before fiscal 2015 vests in equal installments on each of the first four anniversaries of the grant date .", "restricted stock granted during fiscal 2015 and thereafter either vest in equal installments on each of the first three anniversaries of the grant date or cliff vest at the end of a three-year service period .", "the grant date fair value of restricted stock , which is based on the quoted market value of our common stock at the closing of the award date , is recognized as share-based compensation expense on a straight-line basis over the vesting period .", "performance units certain of our executives have been granted performance units under our long-term incentive plan .", "performance units are performance-based restricted stock units that , after a performance period , convert into common shares , which may be restricted .", "the number of shares is dependent upon the achievement of certain performance measures during the performance period .", "the target number of performance units and any market-based performance measures ( 201cat threshold , 201d 201ctarget , 201d and 201cmaximum 201d ) are set by the compensation committee of our board of directors .", "performance units are converted only after the compensation committee certifies performance based on pre-established goals .", "the performance units granted to certain executives in fiscal 2014 were based on a one-year performance period .", "after the compensation committee certified the performance results , 25% ( 25 % ) of the performance units converted to unrestricted shares .", "the remaining 75% ( 75 % ) converted to restricted shares that vest in equal installments on each of the first three anniversaries of the conversion date .", "the performance units granted to certain executives during fiscal 2015 and fiscal 2016 were based on a three-year performance period .", "after the compensation committee certifies the performance results for the three-year period , performance units earned will convert into unrestricted common stock .", "the compensation committee may set a range of possible performance-based outcomes for performance units .", "depending on the achievement of the performance measures , the grantee may earn up to 200% ( 200 % ) of the target number of shares .", "for awards with only performance conditions , we recognize compensation expense on a straight-line basis over the performance period using the grant date fair value of the award , which is based on the number of shares expected to be earned according to the level of achievement of performance goals .", "if the number of shares expected to be earned were to change at any time during the performance period , we would make a cumulative adjustment to share-based compensation expense based on the revised number of shares expected to be earned .", "global payments inc .", "| 2016 form 10-k annual report 2013 83 ." ]

[ "2000 non-employee director stock option plan ( the 201cdirector stock option plan 201d ) , and the global payments inc .", "2011 incentive plan ( the 201c2011 plan 201d ) ( collectively , the 201cplans 201d ) .", "we made no further grants under the 2000 plan after the 2005 plan was effective , and the director stock option plan expired by its terms on february 1 , 2011 .", "we will make no future grants under the 2000 plan , the 2005 plan or the director stock option plan .", "the 2011 plan permits grants of equity to employees , officers , directors and consultants .", "a total of 14.0 million shares of our common stock was reserved and made available for issuance pursuant to awards granted under the 2011 plan .", "the following table summarizes share-based compensation expense and the related income tax benefit recognized for our share-based awards and stock options ( in thousands ) : 2016 2015 2014 ( in thousands ) ." ]

[ "the share-based compensation expense of 2016 is $ 30809 ; the share-based compensation expense of 2015 ( in thousands ) is $ 21056 ; the share-based compensation expense of 2014 is $ 29793 ;", "the income tax benefit of 2016 is $ 9879 ; the income tax benefit of 2015 ( in thousands ) is $ 6907 ; the income tax benefit of 2014 is $ 7126 ;" ]

[ [ "", "2016", "2015 ( in thousands )", "2014" ], [ "share-based compensation expense", "$ 30809", "$ 21056", "$ 29793" ], [ "income tax benefit", "$ 9879", "$ 6907", "$ 7126" ] ]

[ "depreciation on capital leases is recorded as depreciation expense in our results of operations .", "as of may 26 , 2019 , we have issued guarantees and comfort letters of $ 681.6 million for the debt and other obligations of consolidated subsidiaries , and guarantees and comfort letters of $ 133.9 million for the debt and other obligations of non-consolidated affiliates , mainly cpw .", "in addition , off-balance sheet arrangements are generally limited to the future payments under non-cancelable operating leases , which totaled $ 482.6 million as of may 26 , 2019 .", "note 16 .", "business segment and geographic information we operate in the packaged foods industry .", "our operating segments are as follows : north america retail ; convenience stores & foodservice ; europe & australia ; asia & latin america ; and pet .", "our north america retail operating segment reflects business with a wide variety of grocery stores , mass merchandisers , membership stores , natural food chains , drug , dollar and discount chains , and e-commerce grocery providers .", "our product categories in this business segment are ready-to-eat cereals , refrigerated yogurt , soup , meal kits , refrigerated and frozen dough products , dessert and baking mixes , frozen pizza and pizza snacks , grain , fruit and savory snacks , and a wide variety of organic products including refrigerated yogurt , nutrition bars , meal kits , salty snacks , ready-to-eat cereal , and grain snacks. ." ]

[ "as of may 26 , 2019 , we expect to pay approximately $ 2.0 million of unrecognized tax benefit liabilities and accrued interest within the next 12 months .", "we are not able to reasonably estimate the timing of future cash flows beyond 12 months due to uncertainties in the timing of tax audit outcomes .", "the remaining amount of our unrecognized tax liability was classified in other liabilities .", "we report accrued interest and penalties related to unrecognized tax benefit liabilities in income tax expense .", "for fiscal 2019 , we recognized $ 0.5 million of tax-related net interest and penalties , and had $ 26.0 million of accrued interest and penalties as of may 26 , 2019 .", "for fiscal 2018 , we recognized a net benefit of $ 3.1 million of tax-related net interest and penalties , and had $ 27.3 million of accrued interest and penalties as of may 27 , 2018 .", "note 15 .", "leases , other commitments , and contingencies our leases are generally for warehouse space and equipment .", "rent expense under all operating leases from continuing operations was $ 184.9 million in fiscal 2019 , $ 189.4 million in fiscal 2018 , and $ 188.1 million in fiscal 2017 .", "some operating leases require payment of property taxes , insurance , and maintenance costs in addition to the rent payments .", "contingent and escalation rent in excess of minimum rent payments and sublease income netted in rent expense were insignificant .", "noncancelable future lease commitments are : in millions operating leases capital leases ." ]

[ "in millions the fiscal 2021 of operating leases is 101.7 ; the fiscal 2021 of capital leases is 0.1 ;", "in millions the total noncancelable future lease commitments of operating leases is $ 482.6 ; the total noncancelable future lease commitments of capital leases is $ 0.3 ;" ]

[ [ "in millions", "operating leases", "capital leases" ], [ "fiscal 2020", "$ 120.0", "$ 0.2" ], [ "fiscal 2021", "101.7", "0.1" ], [ "fiscal 2022", "85.0", "-" ], [ "fiscal 2023", "63.8", "-" ], [ "fiscal 2024", "49.1", "-" ], [ "after fiscal 2024", "63.0", "-" ], [ "total noncancelable future lease commitments", "$ 482.6", "$ 0.3" ], [ "less : interest", "", "-" ], [ "present value of obligations under capitalleases", "", "$ 0.3" ] ]

[ "goodwill goodwill represents an acquired company 2019s acquisition cost over the fair value of net tangible and intangible assets acquired .", "goodwill is subject to annual impairment tests , whereby goodwill is allocated to the company 2019s reporting units and an impairment is deemed to exist if the carrying value of a reporting unit exceeds its estimated fair value .", "furthermore , on any business dispositions , goodwill is allocated to the business disposed of based on the ratio of the fair value of the business disposed of to the fair value of the reporting unit .", "intangible assets intangible assets 2014including core deposit intangibles , present value of future profits , purchased credit card relationships , other customer relationships , and other intangible assets , but excluding msrs 2014are amortized over their estimated useful lives .", "intangible assets deemed to have indefinite useful lives , primarily certain asset management contracts and trade names , are not amortized and are subject to annual impairment tests .", "an impairment exists if the carrying value of the indefinite-lived intangible asset exceeds its fair value .", "for other intangible assets subject to amortization , an impairment is recognized if the carrying amount is not recoverable and exceeds the fair value of the intangible asset .", "other assets and other liabilities other assets include , among other items , loans held-for-sale , deferred tax assets , equity-method investments , interest and fees receivable , premises and equipment , end-user derivatives in a net receivable position , repossessed assets , and other receivables. ." ]

[ "citigroup 2019s repurchases are primarily from government sponsored entities .", "the specific representations and warranties made by the company depend on the nature of the transaction and the requirements of the buyer .", "market conditions and credit-ratings agency requirements may also affect representations and warranties and the other provisions the company may agree to in loan sales .", "in the event of a breach of the representations and warranties , the company may be required to either repurchase the mortgage loans ( generally at unpaid principal balance plus accrued interest ) with the identified defects or indemnify ( 201cmake-whole 201d ) the investor or insurer .", "the company has recorded a repurchase reserve that is included in other liabilities in the consolidated balance sheet .", "in the case of a repurchase , the company will bear any subsequent credit loss on the mortgage loans .", "the company 2019s representations and warranties are generally not subject to stated limits in amount or time of coverage .", "however , contractual liability arises only when the representations and warranties are breached and generally only when a loss results from the breach .", "in the case of a repurchase , the loan is typically considered a credit- impaired loan and accounted for under sop 03-3 , 201caccounting for certain loans and debt securities , acquired in a transfer 201d ( now incorporated into asc 310-30 , receivables 2014loans and debt securities acquired with deteriorated credit quality ) .", "these repurchases have not had a material impact on nonperforming loan statistics , because credit-impaired purchased sop 03-3 loans are not included in nonaccrual loans .", "the company estimates its exposure to losses from its obligation to repurchase previously sold loans based on the probability of repurchase or make-whole and an estimated loss given repurchase or make-whole .", "this estimate is calculated separately by sales vintage ( i.e. , the year the loans were sold ) based on a combination of historical trends and forecasted repurchases and losses considering the : ( 1 ) trends in requests by investors for loan documentation packages to be reviewed ; ( 2 ) trends in recent repurchases and make-wholes ; ( 3 ) historical percentage of claims made as a percentage of loan documentation package requests ; ( 4 ) success rate in appealing claims ; ( 5 ) inventory of unresolved claims ; and ( 6 ) estimated loss given repurchase or make-whole , including the loss of principal , accrued interest , and foreclosure costs .", "the company does not change its estimation methodology by counterparty , but the historical experience and trends are considered when evaluating the overall reserve .", "the request for loan documentation packages is an early indicator of a potential claim .", "during 2009 , loan documentation package requests and the level of outstanding claims increased .", "in addition , our loss severity estimates increased during 2009 due to the impact of macroeconomic factors and recent experience .", "these factors contributed to a $ 493 million change in estimate for this reserve in 2009 .", "as indicated above , the repurchase reserve is calculated by sales vintage .", "the majority of the repurchases in 2009 were from the 2006 and 2007 sales vintages , which also represent the vintages with the largest loss- given-repurchase .", "an insignificant percentage of 2009 repurchases were from vintages prior to 2006 , and this is expected to decrease , because those vintages are later in the credit cycle .", "although early in the credit cycle , the company has experienced improved repurchase and loss-given-repurchase statistics from the 2008 and 2009 vintages .", "in the case of a repurchase of a credit-impaired sop 03-3 loan ( now incorporated into asc 310-30 ) , the difference between the loan 2019s fair value and unpaid principal balance at the time of the repurchase is recorded as a utilization of the repurchase reserve .", "payments to make the investor whole are also treated as utilizations and charged directly against the reserve .", "the provision for estimated probable losses arising from loan sales is recorded as an adjustment to the gain on sale , which is included in other revenue in the consolidated statement of income .", "a liability for representations and warranties is estimated when the company sells loans and is updated quarterly .", "any subsequent adjustment to the provision is recorded in other revenue in the consolidated statement of income .", "the activity in the repurchase reserve for the years ended december 31 , 2009 and 2008 is as follows: ." ]

[ "in millions of dollars the balance end of the year of 2009 is $ 482 ; the balance end of the year of 2008 is $ 75 ;" ]

[ [ "in millions of dollars", "2009", "2008" ], [ "balance beginning of the year", "$ 75", "$ 2" ], [ "additions for new sales", "33", "23" ], [ "change in estimate", "493", "59" ], [ "utilizations", "-119 ( 119 )", "-9 ( 9 )" ], [ "balance end of the year", "$ 482", "$ 75" ] ]

[ "the total fair value of restricted stock and performance awards vested was $ 33.7 million for the year ended december 31 , 2017 , $ 20.0 million for the 2016 fiscal transition period and $ 17.4 million and $ 15.0 million , respectively , for the years ended may 31 , 2016 and 2015 .", "for restricted stock and performance awards , we recognized compensation expense of $ 35.2 million for the year ended december 31 , 2017 , $ 17.2 million for the 2016 fiscal transition period and $ 28.8 million and $ 19.8 million , respectively , for the years ended may 31 , 2016 and 2015 .", "as of december 31 , 2017 , there was $ 46.1 million of unrecognized compensation expense related to unvested restricted stock and performance awards that we expect to recognize over a weighted-average period of 1.8 years .", "our restricted stock and performance award plans provide for accelerated vesting under certain conditions .", "stock options stock options are granted with an exercise price equal to 100% ( 100 % ) of fair market value of our common stock on the date of grant and have a term of ten years .", "stock options granted before the year ended may 31 , 2015 vest in equal installments on each of the first four anniversaries of the grant date .", "stock options granted during the year ended may 31 , 2015 and thereafter vest in equal installments on each of the first three anniversaries of the grant date .", "our stock option plans provide for accelerated vesting under certain conditions .", "global payments inc .", "| 2017 form 10-k annual report 2013 91 ." ]

[ "leveraged performance units during the year ended may 31 , 2015 , certain executives were granted performance units that we refer to as 201cleveraged performance units , 201d or 201clpus . 201d lpus contain a market condition based on our relative stock price growth over a three-year performance period .", "the lpus contain a minimum threshold performance which , if not met , would result in no payout .", "the lpus also contain a maximum award opportunity set as a fixed dollar and fixed number of shares .", "after the three-year performance period , which concluded in october 2017 , one-third of the earned units converted to unrestricted common stock .", "the remaining two-thirds converted to restricted stock that will vest in equal installments on each of the first two anniversaries of the conversion date .", "we recognize share-based compensation expense based on the grant date fair value of the lpus , as determined by use of a monte carlo model , on a straight-line basis over the requisite service period for each separately vesting portion of the lpu award .", "the following table summarizes the changes in unvested restricted stock and performance awards for the year ended december 31 , 2017 , the 2016 fiscal transition period and for the years ended may 31 , 2016 and 2015 : shares weighted-average grant-date fair value ( in thousands ) ." ]

[ "the total fair value of restricted stock and performance awards vested was $ 33.7 million for the year ended december 31 , 2017 , $ 20.0 million for the 2016 fiscal transition period and $ 17.4 million and $ 15.0 million , respectively , for the years ended may 31 , 2016 and 2015 ." ]

[ [ "", "shares ( in thousands )", "weighted-averagegrant-datefair value" ], [ "unvested at may 31 2014", "1754", "$ 22.72" ], [ "granted", "954", "36.21" ], [ "vested", "-648 ( 648 )", "23.17" ], [ "forfeited", "-212 ( 212 )", "27.03" ], [ "unvested at may 31 2015", "1848", "28.97" ], [ "granted", "461", "57.04" ], [ "vested", "-633 ( 633 )", "27.55" ], [ "forfeited", "-70 ( 70 )", "34.69" ], [ "unvested at may 31 2016", "1606", "37.25" ], [ "granted", "348", "74.26" ], [ "vested", "-639 ( 639 )", "31.38" ], [ "forfeited", "-52 ( 52 )", "45.27" ], [ "unvested at december 31 2016", "1263", "49.55" ], [ "granted", "899", "79.79" ], [ "vested", "-858 ( 858 )", "39.26" ], [ "forfeited", "-78 ( 78 )", "59.56" ], [ "unvested at december 31 2017", "1226", "$ 78.29" ] ]

[ "the preliminary estimated fair value of customer-related intangible assets was determined using the income approach , which is based on projected cash flows discounted to their present value using discount rates that consider the timing and risk of the forecasted cash flows .", "the discount rate used is the average estimated value of a market participant 2019s cost of capital and debt , derived using customary market metrics .", "other significant assumptions include terminal value margin rates , future capital expenditures and future working capital requirements .", "acquired technology was valued using the replacement cost method , which required us to estimate the cost to construct an asset of equivalent utility at prices available at the time of the valuation analysis , with adjustments in value for physical deterioration and functional and economic obsolescence .", "trademarks and trade names were valued using the relief-from-royalty approach .", "this method assumes that trade marks and trade names have value to the extent that their owner is relieved of the obligation to pay royalties for the benefits received from them .", "this method required us to estimate the future revenue for the related brands , the appropriate royalty rate and the weighted-average cost of capital .", "the discount rate used is the average estimated value of a market participant 2019s cost of capital and debt , derived using customary market metrics .", "the weighted-average estimated amortization period for the total estimated acquired intangible assets is approximately 11 years .", "the customer-related intangible assets have an estimated amortization period range of 7-20 years .", "the acquired technology has an estimated amortization period of 5 years .", "the trademarks and trade names have an estimated amortization period of 7 years .", "covenants-not-to-compete have an estimated amortization period range of 1-4 years .", "heartland 2019s revenues and operating income represented approximately 4% ( 4 % ) and less than 0.5% ( 0.5 % ) of our total consolidated revenues and operating income , respectively , for the year ended may 31 , 2016 .", "the following unaudited pro forma information shows the results of our operations for the years ended may 31 , 2016 and may 31 , 2015 as if our merger with heartland had occurred on june 1 , 2014 .", "the unaudited pro forma information reflects the effects of applying our accounting policies and certain pro forma adjustments to the combined historical financial information of global payments and heartland .", "the pro forma adjustments include incremental amortization and depreciation expense , incremental interest expense associated with new long-term debt , a reduction of revenues and operating expenses associated with fair value adjustments made in applying the acquisition-method of accounting and the elimination of nonrecurring transaction costs directly related to the merger .", "global payments inc .", "| 2016 form 10-k annual report 2013 67 ." ]

[ "reach in the united states , adding a 1400-person direct sales force , over 300000 merchants and $ 130 billion in annual payments volume .", "goodwill of $ 3.2 billion arising from the merger , included in the north america segment , was attributable to expected growth opportunities , potential synergies from combining our existing businesses and an assembled workforce , and is not deductible for income tax purposes .", "due to the timing of our merger with heartland , we are still in the process of assigning goodwill to our reporting units .", "during the year ended may 31 , 2016 , we incurred transaction costs in connection with the merger of $ 24.4 million , which are recorded in selling , general and administrative expenses in the consolidated statements of income .", "the following reflects the preliminary estimated fair values of the identified intangible assets ( in thousands ) : ." ]

[ "customer-related intangible assets the acquired technology of $ 977400 is 457000 ;" ]

[ [ "customer-related intangible assets", "$ 977400" ], [ "acquired technology", "457000" ], [ "trademarks and trade names", "176000" ], [ "covenants-not-to-compete", "28640" ], [ "total estimated acquired intangible assets", "$ 1639040" ] ]

[ "." ]

[ "table of contents marketaxess holdings inc .", "notes to consolidated financial statements 2014 ( continued ) of this standard had no material effect on the company 2019s consolidated statements of financial condition and consolidated statements of operations .", "reclassifications certain reclassifications have been made to the prior years 2019 financial statements in order to conform to the current year presentation .", "such reclassifications had no effect on previously reported net income .", "on march 5 , 2008 , the company acquired all of the outstanding capital stock of greenline financial technologies , inc .", "( 201cgreenline 201d ) , an illinois-based provider of integration , testing and management solutions for fix-related products and services designed to optimize electronic trading of fixed-income , equity and other exchange-based products , and approximately ten percent of the outstanding capital stock of tradehelm , inc. , a delaware corporation that was spun-out from greenline immediately prior to the acquisition .", "the acquisition of greenline broadens the range of technology services that the company offers to institutional financial markets , provides an expansion of the company 2019s client base , including global exchanges and hedge funds , and further diversifies the company 2019s revenues beyond the core electronic credit trading products .", "the results of operations of greenline are included in the consolidated financial statements from the date of the acquisition .", "the aggregate consideration for the greenline acquisition was $ 41.1 million , comprised of $ 34.7 million in cash , 725923 shares of common stock valued at $ 5.8 million and $ 0.6 million of acquisition-related costs .", "in addition , the sellers were eligible to receive up to an aggregate of $ 3.0 million in cash , subject to greenline attaining certain earn- out targets in 2008 and 2009 .", "a total of $ 1.4 million was paid to the sellers in 2009 based on the 2008 earn-out target , bringing the aggregate consideration to $ 42.4 million .", "the 2009 earn-out target was not met .", "a total of $ 2.0 million of the purchase price , which had been deposited into escrow accounts to satisfy potential indemnity claims , was distributed to the sellers in march 2009 .", "the shares of common stock issued to each selling shareholder of greenline were released in two equal installments on december 20 , 2008 and december 20 , 2009 , respectively .", "the value ascribed to the shares was discounted from the market value to reflect the non-marketability of such shares during the restriction period .", "the purchase price allocation is as follows ( in thousands ) : the amortizable intangibles include $ 3.2 million of acquired technology , $ 3.3 million of customer relationships , $ 1.3 million of non-competition agreements and $ 0.5 million of tradenames .", "useful lives of ten years and five years have been assigned to the customer relationships intangible and all other amortizable intangibles , respectively .", "the identifiable intangible assets and goodwill are not deductible for tax purposes .", "the following unaudited pro forma consolidated financial information reflects the results of operations of the company for the years ended december 31 , 2008 and 2007 , as if the acquisition of greenline had occurred as of the beginning of the period presented , after giving effect to certain purchase accounting adjustments .", "these pro forma results are not necessarily indicative of what the company 2019s operating results would have been had the acquisition actually taken place as of the beginning of the earliest period presented .", "the pro forma financial information 3 .", "acquisitions ." ]

[ "cash the cash of $ 6406 is $ 6406 ;", "cash the total purchase price of $ 6406 is $ 42418 ;" ]

[ [ "cash", "$ 6406" ], [ "accounts receivable", "2139" ], [ "amortizable intangibles", "8330" ], [ "goodwill", "29405" ], [ "deferred tax assets net", "3410" ], [ "other assets including investment in tradehelm", "1429" ], [ "accounts payable accrued expenses and deferred revenue", "-8701 ( 8701 )" ], [ "total purchase price", "$ 42418" ] ]

[ "1 4 .", "d i v i d e n d r e s t r i c t i o n s a n d s t a t u t o r y f i n a n c i a l i n f o r m a t i o n a .", "d i v i d e n d r e s t r i c t i o n s under bermuda law , group is prohibited from declaring or paying a dividend if such payment would reduce the realizable value of its assets to an amount less than the aggregate value of its liabilities and its issued share capital and share premium ( addi- tional paid-in capital ) accounts .", "group 2019s ability to pay dividends and its operating expenses is dependent upon dividends from its subsidiaries .", "the payment of such dividends by insurer subsidiaries is limited under bermuda law and the laws of the var- ious u.s .", "states in which group 2019s insurance and reinsurance subsidiaries are domiciled or deemed domiciled .", "the limitations are generally based upon net income and compliance with applicable policyholders 2019 surplus or minimum solvency margin and liquidity ratio requirements as determined in accordance with the relevant statutory accounting practices .", "under bermuda law , bermuda re is prohibited from declaring or making payment of a dividend if it fails to meet its minimum solvency margin or minimum liquidity ratio .", "as a long-term insurer , bermuda re is also unable to declare or pay a dividend to anyone who is not a policyholder unless , after payment of the dividend , the value of the assets in its long-term business fund , as certified by its approved actuary , exceeds its liabilities for long-term business by at least the $ 250000 minimum solvency margin .", "prior approval of the bermuda monetary authority is required if bermuda re 2019s dividend payments would reduce its prior year-end total statutory capital by 15.0% ( 15.0 % ) or more .", "delaware law provides that an insurance company which is a member of an insurance holding company system and is domi- ciled in the state shall not pay dividends without giving prior notice to the insurance commissioner of delaware and may not pay dividends without the approval of the insurance commissioner if the value of the proposed dividend , together with all other dividends and distributions made in the preceding twelve months , exceeds the greater of ( 1 ) 10% ( 10 % ) of statutory surplus or ( 2 ) net income , not including realized capital gains , each as reported in the prior year 2019s statutory annual statement .", "in addition , no dividend may be paid in excess of unassigned earned surplus .", "at december 31 , 2006 , everest re had $ 270.4 million available for payment of dividends in 2007 without the need for prior regulatory approval .", "b .", "s t a t u t o r y f i n a n c i a l i n f o r m a t i o n everest re prepares its statutory financial statements in accordance with accounting practices prescribed or permitted by the national association of insurance commissioners ( 201cnaic 201d ) and the delaware insurance department .", "prescribed statutory accounting practices are set forth in the naic accounting practices and procedures manual .", "the capital and statutory surplus of everest re was $ 2704.1 million ( unaudited ) and $ 2327.6 million at december 31 , 2006 and 2005 , respectively .", "the statutory net income of everest re was $ 298.7 million ( unaudited ) for the year ended december 31 , 2006 , the statutory net loss was $ 26.9 million for the year ended december 31 , 2005 and the statutory net income $ 175.8 million for the year ended december 31 , 2004 .", "bermuda re prepares its statutory financial statements in conformity with the accounting principles set forth in bermuda in the insurance act 1978 , amendments thereto and related regulations .", "the statutory capital and surplus of bermuda re was $ 1893.9 million ( unaudited ) and $ 1522.5 million at december 31 , 2006 and 2005 , respectively .", "the statutory net income of bermuda re was $ 409.8 million ( unaudited ) for the year ended december 31 , 2006 , the statutory net loss was $ 220.5 million for the year ended december 31 , 2005 and the statutory net income was $ 248.7 million for the year ended december 31 , 2004 .", "1 5 .", "c o n t i n g e n c i e s in the ordinary course of business , the company is involved in lawsuits , arbitrations and other formal and informal dispute resolution procedures , the outcomes of which will determine the company 2019s rights and obligations under insurance , reinsur- ance and other contractual agreements .", "in some disputes , the company seeks to enforce its rights under an agreement or to collect funds owing to it .", "in other matters , the company is resisting attempts by others to collect funds or enforce alleged rights .", "these disputes arise from time to time and as they arise are addressed , and ultimately resolved , through both informal and formal means , including negotiated resolution , arbitration and litigation .", "in all such matters , the company believes that ." ]

[ "the following table displays the expected benefit payments in the years indicated : ( dollars in thousands ) ." ]

[ "2007 the 2007 of $ 117 is $ 117 ;", "2007 the 2008 of $ 117 is 140 ;", "2007 the 2009 of $ 117 is 203 ;", "2007 the 2010 of $ 117 is 263 ;", "2007 the 2011 of $ 117 is 328 ;" ]

[ [ "2007", "$ 117" ], [ "2008", "140" ], [ "2009", "203" ], [ "2010", "263" ], [ "2011", "328" ], [ "next 5 years", "2731" ] ]

[ "at december 31 , 2009 , there was $ 22 million of total unrecognized compensation expense related to nonvested performance retention awards , which is expected to be recognized over a weighted-average period of 1.3 years .", "a portion of this expense is subject to achievement of the roic levels established for the performance stock unit grants .", "5 .", "retirement plans pension and other postretirement benefits pension plans 2013 we provide defined benefit retirement income to eligible non-union employees through qualified and non-qualified ( supplemental ) pension plans .", "qualified and non-qualified pension benefits are based on years of service and the highest compensation during the latest years of employment , with specific reductions made for early retirements .", "other postretirement benefits ( opeb ) 2013 we provide defined contribution medical and life insurance benefits for eligible retirees .", "these benefits are funded as medical claims and life insurance premiums are plan amendment effective january 1 , 2010 , medicare-eligible retirees who are enrolled in the union pacific retiree medical program will receive a contribution to a health reimbursement account , which can be used to pay eligible out-of-pocket medical expenses .", "the impact of the plan amendment is reflected in the projected benefit obligation ( pbo ) at december 31 , 2009 .", "funded status we are required by gaap to separately recognize the overfunded or underfunded status of our pension and opeb plans as an asset or liability .", "the funded status represents the difference between the pbo and the fair value of the plan assets .", "the pbo is the present value of benefits earned to date by plan participants , including the effect of assumed future salary increases .", "the pbo of the opeb plan is equal to the accumulated benefit obligation , as the present value of the opeb liabilities is not affected by salary increases .", "plan assets are measured at fair value .", "we use a december 31 measurement date for plan assets and obligations for all our retirement plans. ." ]

[ "changes in our performance retention awards during 2009 were as follows : shares ( thous. ) weighted-average grant-date fair value ." ]

[ "the nonvested at december 31 2009 of shares ( thous . ) is 1060 ; the nonvested at december 31 2009 of weighted-averagegrant-date fair value is $ 50.88 ;", "at december 31 , 2009 , there was $ 22 million of total unrecognized compensation expense related to nonvested performance retention awards , which is expected to be recognized over a weighted-average period of 1.3 years ." ]

[ [ "", "shares ( thous. )", "weighted-averagegrant-date fair value" ], [ "nonvested at january 1 2009", "873", "$ 50.70" ], [ "granted", "449", "47.28" ], [ "vested", "-240 ( 240 )", "43.23" ], [ "forfeited", "-22 ( 22 )", "53.86" ], [ "nonvested at december 31 2009", "1060", "$ 50.88" ] ]

[ "included in 2013 is a discrete tax benefit totaling $ 2979 associated with an entity re-organization within the company 2019s market-based operations segment that allowed for the utilization of state net operating loss carryforwards and the release of an associated valuation allowance .", "note 13 : employee benefits pension and other postretirement benefits the company maintains noncontributory defined benefit pension plans covering eligible employees of its regulated utility and shared services operations .", "benefits under the plans are based on the employee 2019s years of service and compensation .", "the pension plans have been closed for all employees .", "the pension plans were closed for most employees hired on or after january 1 , 2006 .", "union employees hired on or after january 1 , 2001 had their accrued benefit frozen and will be able to receive this benefit as a lump sum upon termination or retirement .", "union employees hired on or after january 1 , 2001 and non-union employees hired on or after january 1 , 2006 are provided with a 5.25% ( 5.25 % ) of base pay defined contribution plan .", "the company does not participate in a multiemployer plan .", "the company 2019s pension funding practice is to contribute at least the greater of the minimum amount required by the employee retirement income security act of 1974 or the normal cost .", "further , the company will consider additional contributions if needed to avoid 201cat risk 201d status and benefit restrictions under the pension protection act of 2006 .", "the company may also consider increased contributions , based on other financial requirements and the plans 2019 funded position .", "pension plan assets are invested in a number of actively managed and commingled funds including equity and bond funds , fixed income securities , guaranteed interest contracts with insurance companies , real estate funds and real estate investment trusts ( 201creits 201d ) .", "pension expense in excess of the amount contributed to the pension plans is deferred by certain regulated subsidiaries pending future recovery in rates charged for utility services as contributions are made to the plans .", "( see note 6 ) the company also has unfunded noncontributory supplemental non-qualified pension plans that provide additional retirement benefits to certain employees. ." ]

[ "majority of the increased tax position is attributable to temporary differences .", "the increase in 2014 current period tax positions related primarily to the company 2019s change in tax accounting method filed in 2008 for repair and maintenance costs on its utility plant .", "the company does not anticipate material changes to its unrecognized tax benefits within the next year .", "if the company sustains all of its positions at december 31 , 2014 and 2013 , an unrecognized tax benefit of $ 9444 and $ 7439 , respectively , excluding interest and penalties , would impact the company 2019s effective tax rate .", "the following table summarizes the changes in the company 2019s valuation allowance: ." ]

[ "balance at january 1 2012 the decreases in current period tax positions of $ 21579 is -3176 ( 3176 ) ;", "balance at january 1 2012 the balance at december 31 2014 of $ 21579 is $ 10379 ;" ]

[ [ "balance at january 1 2012", "$ 21579" ], [ "increases in current period tax positions", "2014" ], [ "decreases in current period tax positions", "-2059 ( 2059 )" ], [ "balance at december 31 2012", "$ 19520" ], [ "increases in current period tax positions", "2014" ], [ "decreases in current period tax positions", "-5965 ( 5965 )" ], [ "balance at december 31 2013", "$ 13555" ], [ "increases in current period tax positions", "2014" ], [ "decreases in current period tax positions", "-3176 ( 3176 )" ], [ "balance at december 31 2014", "$ 10379" ] ]

[ "on february 22 , 2007 , the closing price of our class a common stock was $ 40.38 per share as reported on the nyse .", "as of february 22 , 2007 , we had 419988395 outstanding shares of class a common stock and 623 registered holders .", "in february 2004 , all outstanding shares of our class b common stock were converted into shares of our class a common stock on a one-for-one basis pursuant to the occurrence of the 201cdodge conversion event 201d as defined in our charter .", "also in february 2004 , all outstanding shares of class c common stock were converted into shares of class a common stock on a one-for-one basis .", "in august 2005 , we amended and restated our charter to , among other things , eliminate our class b common stock and class c common stock .", "dividends we have never paid a dividend on any class of our common stock .", "we anticipate that we may retain future earnings , if any , to fund the development and growth of our business .", "the indentures governing our 7.50% ( 7.50 % ) senior notes due 2012 ( 7.50% ( 7.50 % ) notes ) and our 7.125% ( 7.125 % ) senior notes due 2012 ( 7.125% ( 7.125 % ) notes ) may prohibit us from paying dividends to our stockholders unless we satisfy certain financial covenants .", "our credit facilities and the indentures governing the terms of our debt securities contain covenants that may restrict the ability of our subsidiaries from making to us any direct or indirect distribution , dividend or other payment on account of their limited liability company interests , partnership interests , capital stock or other equity interests .", "under our credit facilities , the borrower subsidiaries may pay cash dividends or make other distributions to us in accordance with the applicable credit facility only if no default exists or would be created thereby .", "the indenture governing the terms of the ati 7.25% ( 7.25 % ) notes prohibit ati and certain of our other subsidiaries that have guaranteed those notes ( sister guarantors ) from paying dividends and making other payments or distributions to us unless certain financial covenants are satisfied .", "the indentures governing the terms of our 7.50% ( 7.50 % ) notes and 7.125% ( 7.125 % ) notes also contain certain restrictive covenants , which prohibit the restricted subsidiaries under these indentures from paying dividends and making other payments or distributions to us unless certain financial covenants are satisfied .", "for more information about the restrictions under our credit facilities and our notes indentures , see item 7 of this annual report under the caption 201cmanagement 2019s discussion and analysis of financial condition and results of operations 2014liquidity and capital resources 2014factors affecting sources of liquidity 201d and note 7 to our consolidated financial statements included in this annual report. ." ]

[ "part ii item 5 .", "market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities the following table presents reported quarterly high and low per share sale prices of our class a common stock on the new york stock exchange ( nyse ) for the years 2006 and 2005. ." ]

[ "2006 the quarter ended december 31 of high is 38.74 ; the quarter ended december 31 of low is 35.21 ;", "on february 22 , 2007 , the closing price of our class a common stock was $ 40.38 per share as reported on the nyse ." ]

[ [ "2006", "high", "low" ], [ "quarter ended march 31", "$ 32.68", "$ 26.66" ], [ "quarter ended june 30", "35.75", "27.35" ], [ "quarter ended september 30", "36.92", "29.98" ], [ "quarter ended december 31", "38.74", "35.21" ], [ "2005", "high", "low" ], [ "quarter ended march 31", "$ 19.28", "$ 17.30" ], [ "quarter ended june 30", "21.16", "16.28" ], [ "quarter ended september 30", "25.20", "20.70" ], [ "quarter ended december 31", "28.33", "22.73" ] ]

[ "( 1 ) the majority of sites acquired or constructed internationally during 2010 and 2009 were in india and our newly launched operations in chile , colombia and peru .", "network development services segment revenue growth .", "as we continue to focus on growing our rental and management operations , we anticipate that our network development services revenue will continue to represent a small percentage of our total revenues .", "through our network development services segment , we offer tower-related services , including site acquisition , zoning and permitting services and structural analysis services , which primarily support our site leasing business and the addition of new tenants and equipment on our sites .", "rental and management operations expenses .", "our rental and management operations expenses include our direct site level expenses and consist primarily of ground rent , property taxes , repairs and maintenance and utilities .", "these segment level expenses exclude all segment and corporate level selling , general , administrative and development expenses , which are aggregated into one line item entitled selling , general , administrative and development expense .", "in general , our rental and management segment level selling , general and administrative expenses do not significantly increase as a result of adding incremental tenants to our legacy sites and typically increase only modestly year-over-year .", "as a result , leasing additional space to new tenants on our legacy sites provides significant incremental cash flow .", "in geographic areas where we have recently launched operations or are focused on materially expanding our site footprint , we may incur additional segment level selling , general and administrative expenses as we increase our presence in these areas .", "our profit margin growth is therefore positively impacted by the addition of new tenants to our legacy sites and can be temporarily diluted by our development activities .", "reit election .", "as we review our tax strategy and assess the utilization of our federal and state nols , we are actively considering an election to a reit for u.s .", "federal and , where applicable , state income tax purposes .", "we may make the determination to elect reit status for the taxable year beginning january 1 , 2012 , as early as the second half of 2011 , subject to the approval of our board of directors , although there is no certainty as to the timing of a reit election or whether we will make a reit election at all. ." ]

[ "2022 international .", "in general , our international markets are less advanced with respect to the current technologies deployed for wireless services .", "as a result , demand for our communications sites is driven by continued voice network investments , new market entrants and initial 3g data network deployments .", "for example , in india , nationwide voice networks continue to be deployed as wireless service providers are beginning their initial investments in 3g data networks , as a result of recent spectrum auctions .", "in mexico and brazil , where nationwide voice networks have been deployed , some incumbent wireless service providers continue to invest in their 3g data networks , and recent spectrum auctions have enabled other incumbent wireless service providers and new market entrants to begin their initial investments in 3g data networks .", "in markets such as chile and peru , recent spectrum auctions have attracted new market entrants , who are expected to begin their investment in deploying nationwide voice and 3g data networks .", "we believe demand for our tower sites will continue in our international markets as wireless service providers seek to remain competitive by increasing the coverage of their networks while also investing in next generation data networks .", "rental and management operations new site revenue growth .", "during the year ended december 31 , 2010 , we grew our portfolio of communications sites through acquisitions and construction activities , including the acquisition and construction of approximately 7800 sites .", "we continue to evaluate opportunities to acquire larger communications site portfolios , both domestically and internationally , that we believe we can effectively integrate into our existing portfolio. ." ]

[ "new sites ( acquired or constructed ) the domestic of 2010 is 947 ; the domestic of 2009 is 528 ; the domestic of 2008 is 160 ;", "new sites ( acquired or constructed ) the international ( 1 ) of 2010 is 6865 ; the international ( 1 ) of 2009 is 3022 ; the international ( 1 ) of 2008 is 801 ;" ]

[ [ "new sites ( acquired or constructed )", "2010", "2009", "2008" ], [ "domestic", "947", "528", "160" ], [ "international ( 1 )", "6865", "3022", "801" ] ]

[ "we have used interest rate swaps for risk management purposes to manage our exposure to changes in interest rates .", "we did not have any interest rate swaps outstanding as of december 31 , 2017 .", "we had $ 791.0 of cash , cash equivalents and marketable securities as of december 31 , 2017 that we generally invest in conservative , short-term bank deposits or securities .", "the interest income generated from these investments is subject to both domestic and foreign interest rate movements .", "during 2017 and 2016 , we had interest income of $ 19.4 and $ 20.1 , respectively .", "based on our 2017 results , a 100 basis-point increase or decrease in interest rates would affect our interest income by approximately $ 7.9 , assuming that all cash , cash equivalents and marketable securities are impacted in the same manner and balances remain constant from year-end 2017 levels .", "foreign currency rates we are subject to translation and transaction risks related to changes in foreign currency exchange rates .", "since we report revenues and expenses in u.s .", "dollars , changes in exchange rates may either positively or negatively affect our consolidated revenues and expenses ( as expressed in u.s .", "dollars ) from foreign operations .", "the foreign currencies that most impacted our results during 2017 included the british pound sterling and , to a lesser extent , brazilian real and south african rand .", "based on 2017 exchange rates and operating results , if the u.s .", "dollar were to strengthen or weaken by 10% ( 10 % ) , we currently estimate operating income would decrease or increase approximately 4% ( 4 % ) , assuming that all currencies are impacted in the same manner and our international revenue and expenses remain constant at 2017 levels .", "the functional currency of our foreign operations is generally their respective local currency .", "assets and liabilities are translated at the exchange rates in effect at the balance sheet date , and revenues and expenses are translated at the average exchange rates during the period presented .", "the resulting translation adjustments are recorded as a component of accumulated other comprehensive loss , net of tax , in the stockholders 2019 equity section of our consolidated balance sheets .", "our foreign subsidiaries generally collect revenues and pay expenses in their functional currency , mitigating transaction risk .", "however , certain subsidiaries may enter into transactions in currencies other than their functional currency .", "assets and liabilities denominated in currencies other than the functional currency are susceptible to movements in foreign currency until final settlement .", "currency transaction gains or losses primarily arising from transactions in currencies other than the functional currency are included in office and general expenses .", "we regularly review our foreign exchange exposures that may have a material impact on our business and from time to time use foreign currency forward exchange contracts or other derivative financial instruments to hedge the effects of potential adverse fluctuations in foreign currency exchange rates arising from these exposures .", "we do not enter into foreign exchange contracts or other derivatives for speculative purposes. ." ]

[ "item 7a .", "quantitative and qualitative disclosures about market risk ( amounts in millions ) in the normal course of business , we are exposed to market risks related to interest rates , foreign currency rates and certain balance sheet items .", "from time to time , we use derivative instruments , pursuant to established guidelines and policies , to manage some portion of these risks .", "derivative instruments utilized in our hedging activities are viewed as risk management tools and are not used for trading or speculative purposes .", "interest rates our exposure to market risk for changes in interest rates relates primarily to the fair market value and cash flows of our debt obligations .", "the majority of our debt ( approximately 94% ( 94 % ) and 93% ( 93 % ) as of december 31 , 2017 and 2016 , respectively ) bears interest at fixed rates .", "we do have debt with variable interest rates , but a 10% ( 10 % ) increase or decrease in interest rates would not be material to our interest expense or cash flows .", "the fair market value of our debt is sensitive to changes in interest rates , and the impact of a 10% ( 10 % ) change in interest rates is summarized below .", "increase/ ( decrease ) in fair market value as of december 31 , 10% ( 10 % ) increase in interest rates 10% ( 10 % ) decrease in interest rates ." ]

[ "during 2017 and 2016 , we had interest income of $ 19.4 and $ 20.1 , respectively ." ]

[ [ "as of december 31,", "increase/ ( decrease ) in fair market value 10% ( 10 % ) increasein interest rates", "increase/ ( decrease ) in fair market value 10% ( 10 % ) decreasein interest rates" ], [ "2017", "$ -20.2 ( 20.2 )", "$ 20.6" ], [ "2016", "-26.3 ( 26.3 )", "26.9" ] ]

[ "the base revenue variance is primarily due to a formula rate plan increase effective july 2007 .", "the formula rate plan filing is discussed further in \"state and local rate regulation\" below .", "the volume/weather variance is primarily due to increased electricity usage primarily in the residential and commercial sectors , including the effect of more favorable weather on billed electric sales in 2007 compared to 2006 .", "billed electricity usage increased 214 gwh .", "the increase in usage was partially offset by decreased usage in the industrial sector .", "the transmission revenue variance is due to higher rates and the addition of new transmission customers in late 2006 .", "the transmission equalization variance is primarily due to a revision made in 2006 of transmission equalization receipts among entergy companies .", "the reserve equalization variance is primarily due to a revision in 2006 of reserve equalization payments among entergy companies due to a ferc ruling regarding the inclusion of interruptible loads in reserve ." ]

[ "entergy mississippi , inc .", "management's financial discussion and analysis the net wholesale revenue variance is primarily due to lower profit on joint account sales and reduced capacity revenue from the municipal energy agency of mississippi .", "gross operating revenues , fuel and purchased power expenses , and other regulatory charges gross operating revenues increased primarily due to an increase of $ 152.5 million in fuel cost recovery revenues due to higher fuel rates , partially offset by a decrease of $ 43 million in gross wholesale revenues due to a decrease in net generation and purchases in excess of decreased net area demand resulting in less energy available for resale sales coupled with a decrease in system agreement remedy receipts .", "fuel and purchased power expenses increased primarily due to increases in the average market prices of natural gas and purchased power , partially offset by decreased demand and decreased recovery from customers of deferred fuel costs .", "other regulatory charges increased primarily due to increased recovery through the grand gulf rider of grand gulf capacity costs due to higher rates and increased recovery of costs associated with the power management recovery rider .", "there is no material effect on net income due to quarterly adjustments to the power management recovery rider .", "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 ( credits ) .", "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 $ 466.1 ;", "the volume/weather of amount ( in millions ) is 4.5 ;", "the 2007 net revenue of amount ( in millions ) is $ 486.9 ;" ]

[ [ "", "amount ( in millions )" ], [ "2006 net revenue", "$ 466.1" ], [ "base revenue", "7.9" ], [ "volume/weather", "4.5" ], [ "transmission revenue", "4.1" ], [ "transmission equalization", "4.0" ], [ "reserve equalization", "3.8" ], [ "attala costs", "-10.2 ( 10.2 )" ], [ "other", "6.7" ], [ "2007 net revenue", "$ 486.9" ] ]

[ "our losses from future catastrophic events could exceed our projections .", "we use projections of possible losses from future catastrophic events of varying types and magnitudes as a strategic underwriting tool .", "we use these loss projections to estimate our potential catastrophe losses in certain geographic areas and decide on the placement of retrocessional coverage or other actions to limit the extent of potential losses in a given geographic area .", "these loss projections are approximations , reliant on a mix of quantitative and qualitative processes , and actual losses may exceed the projections by a material amount , resulting in a material adverse effect on our financial condition and results of operations. ." ]

[ "item 1a .", "risk factors in addition to the other information provided in this report , the following risk factors should be considered when evaluating an investment in our securities .", "if the circumstances contemplated by the individual risk factors materialize , our business , financial condition and results of operations could be materially and adversely affected and the trading price of our common shares could decline significantly .", "risks relating to our business fluctuations in the financial markets could result in investment losses .", "prolonged and severe disruptions in the overall public debt and equity markets , such as occurred during 2008 , could result in significant realized and unrealized losses in our investment portfolio .", "although financial markets have significantly improved since 2008 , they could deteriorate in the future .", "there could also be disruption in individual market sectors , such as occurred in the energy sector in recent years .", "such declines in the financial markets could result in significant realized and unrealized losses on investments and could have a material adverse impact on our results of operations , equity , business and insurer financial strength and debt ratings .", "our results could be adversely affected by catastrophic events .", "we are exposed to unpredictable catastrophic events , including weather-related and other natural catastrophes , as well as acts of terrorism .", "any material reduction in our operating results caused by the occurrence of one or more catastrophes could inhibit our ability to pay dividends or to meet our interest and principal payment obligations .", "by way of illustration , during the past five calendar years , pre-tax catastrophe losses , net of reinsurance , were as follows: ." ]

[ "calendar year : the 2017 of pre-tax catastrophe losses is $ 1472.6 ;", "calendar year : the 2016 of pre-tax catastrophe losses is 301.2 ;" ]

[ [ "calendar year:", "pre-tax catastrophe losses" ], [ "( dollars in millions )", "" ], [ "2017", "$ 1472.6" ], [ "2016", "301.2" ], [ "2015", "53.8" ], [ "2014", "56.3" ], [ "2013", "194.0" ] ]

[ "the activity related to the restructuring liability for 2004 is as follows ( in thousands ) : non-operating items interest income increased $ 1.7 million to $ 12.0 million in 2005 from $ 10.3 million in 2004 .", "the increase was mainly the result of higher returns on invested funds .", "interest expense decreased $ 1.0 million , or 5% ( 5 % ) , to $ 17.3 million in 2005 from $ 18.3 million in 2004 as a result of the exchange of newly issued stock for a portion of our outstanding convertible debt in the second half of 2005 .", "in addition , as a result of the issuance during 2005 of common stock in exchange for convertible subordinated notes , we recorded a non- cash charge of $ 48.2 million .", "this charge related to the incremental shares issued in the transactions over the number of shares that would have been issued upon the conversion of the notes under their original terms .", "liquidity and capital resources we have incurred operating losses since our inception and historically have financed our operations principally through public and private offerings of our equity and debt securities , strategic collaborative agreements that include research and/or development funding , development milestones and royalties on the sales of products , investment income and proceeds from the issuance of stock under our employee benefit programs .", "at december 31 , 2006 , we had cash , cash equivalents and marketable securities of $ 761.8 million , which was an increase of $ 354.2 million from $ 407.5 million at december 31 , 2005 .", "the increase was primarily a result of : 2022 $ 313.7 million in net proceeds from our september 2006 public offering of common stock ; 2022 $ 165.0 million from an up-front payment we received in connection with signing the janssen agreement ; 2022 $ 52.4 million from the issuance of common stock under our employee benefit plans ; and 2022 $ 30.0 million from the sale of shares of altus pharmaceuticals inc .", "common stock and warrants to purchase altus common stock .", "these cash inflows were partially offset by the significant cash expenditures we made in 2006 related to research and development expenses and sales , general and administrative expenses .", "capital expenditures for property and equipment during 2006 were $ 32.4 million .", "at december 31 , 2006 , we had $ 42.1 million in aggregate principal amount of the 2007 notes and $ 59.6 million in aggregate principal amount of the 2011 notes outstanding .", "the 2007 notes are due in september 2007 and are convertible into common stock at the option of the holder at a price equal to $ 92.26 per share , subject to adjustment under certain circumstances .", "in february 2007 , we announced that we will redeem our 2011 notes on march 5 , 2007 .", "the 2011 notes are convertible into shares of our common stock at the option of the holder at a price equal to $ 14.94 per share .", "we expect the holders of the 2011 notes will elect to convert their notes into stock , in which case we will issue approximately 4.0 million .", "we will be required to repay any 2011 notes that are not converted at the rate of $ 1003.19 per $ 1000 principal amount , which includes principal and interest that will accrue to the redemption date .", "liability as of december 31 , payments in 2004 cash received from sublease , net of operating costs in 2004 additional charge in liability as of december 31 , lease restructuring liability and other operating lease liability $ 69526 $ ( 31550 ) $ 293 $ 17574 $ 55843 ." ]

[ "the activity related to the restructuring liability for 2004 is as follows ( in thousands ) : non-operating items interest income increased $ 1.7 million to $ 12.0 million in 2005 from $ 10.3 million in 2004 .", "the increase was mainly the result of higher returns on invested funds .", "interest expense decreased $ 1.0 million , or 5% ( 5 % ) , to $ 17.3 million in 2005 from $ 18.3 million in 2004 as a result of the exchange of newly issued stock for a portion of our outstanding convertible debt in the second half of 2005 .", "in addition , as a result of the issuance during 2005 of common stock in exchange for convertible subordinated notes , we recorded a non- cash charge of $ 48.2 million .", "this charge related to the incremental shares issued in the transactions over the number of shares that would have been issued upon the conversion of the notes under their original terms .", "liquidity and capital resources we have incurred operating losses since our inception and historically have financed our operations principally through public and private offerings of our equity and debt securities , strategic collaborative agreements that include research and/or development funding , development milestones and royalties on the sales of products , investment income and proceeds from the issuance of stock under our employee benefit programs .", "at december 31 , 2006 , we had cash , cash equivalents and marketable securities of $ 761.8 million , which was an increase of $ 354.2 million from $ 407.5 million at december 31 , 2005 .", "the increase was primarily a result of : 2022 $ 313.7 million in net proceeds from our september 2006 public offering of common stock ; 2022 $ 165.0 million from an up-front payment we received in connection with signing the janssen agreement ; 2022 $ 52.4 million from the issuance of common stock under our employee benefit plans ; and 2022 $ 30.0 million from the sale of shares of altus pharmaceuticals inc .", "common stock and warrants to purchase altus common stock .", "these cash inflows were partially offset by the significant cash expenditures we made in 2006 related to research and development expenses and sales , general and administrative expenses .", "capital expenditures for property and equipment during 2006 were $ 32.4 million .", "at december 31 , 2006 , we had $ 42.1 million in aggregate principal amount of the 2007 notes and $ 59.6 million in aggregate principal amount of the 2011 notes outstanding .", "the 2007 notes are due in september 2007 and are convertible into common stock at the option of the holder at a price equal to $ 92.26 per share , subject to adjustment under certain circumstances .", "in february 2007 , we announced that we will redeem our 2011 notes on march 5 , 2007 .", "the 2011 notes are convertible into shares of our common stock at the option of the holder at a price equal to $ 14.94 per share .", "we expect the holders of the 2011 notes will elect to convert their notes into stock , in which case we will issue approximately 4.0 million .", "we will be required to repay any 2011 notes that are not converted at the rate of $ 1003.19 per $ 1000 principal amount , which includes principal and interest that will accrue to the redemption date .", "liability as of december 31 , payments in 2004 cash received from sublease , net of operating costs in 2004 additional charge in liability as of december 31 , lease restructuring liability and other operating lease liability $ 69526 $ ( 31550 ) $ 293 $ 17574 $ 55843 ." ]

[ "at december 31 , 2006 , we had cash , cash equivalents and marketable securities of $ 761.8 million , which was an increase of $ 354.2 million from $ 407.5 million at december 31 , 2005 ." ]

[ [ "", "liability as of december 31 2003", "cash payments in 2004", "cash received from sublease net of operating costs in 2004", "additional charge in 2004", "liability as of december 31 2004" ], [ "lease restructuring liability and other operating lease liability", "$ 69526", "$ -31550 ( 31550 )", "$ 293", "$ 17574", "$ 55843" ] ]

[ "average common and common equivalent shares outstanding 2014 assuming dilution 217536 207509 197709 upon closing the acquisition of carefusion corporation ( 201ccarefusion 201d ) on march 17 , 2015 , the company issued approximately 15.9 million of its common shares as part of the purchase consideration .", "additional disclosures regarding this acquisition are provided in note 9 .", "options to purchase shares of common stock are excluded from the calculation of diluted earnings per share when their inclusion would have an anti-dilutive effect on the calculation .", "for the years ended september 30 , 2016 , 2015 and 2014 there were no options to purchase shares of common stock which were excluded from the diluted earnings per share calculation. ." ]

[ "notes to consolidated financial statements 2014 ( continued ) becton , dickinson and company ( b ) these reclassifications were recorded to interest expense and cost of products sold .", "additional details regarding the company's cash flow hedges are provided in note 13 .", "on august 25 , 2016 , in anticipation of proceeds to be received from the divestiture of the respiratory solutions business in the first quarter of fiscal year 2017 , the company entered into an accelerated share repurchase ( \"asr\" ) agreement .", "subsequent to the end of the company's fiscal year 2016 and as per the terms of the asr agreement , the company received approximately 1.3 million shares of its common stock , which was recorded as a $ 220 million increase to common stock in treasury .", "note 4 2014 earnings per share the weighted average common shares used in the computations of basic and diluted earnings per share ( shares in thousands ) for the years ended september 30 were as follows: ." ]

[ "the dilutive share equivalents from share-based plans of 2016 is 4834 ; the dilutive share equivalents from share-based plans of 2015 is 4972 ; the dilutive share equivalents from share-based plans of 2014 is 4410 ;", "the average common and common equivalent shares outstanding 2014 assuming dilution of 2016 is 217536 ; the average common and common equivalent shares outstanding 2014 assuming dilution of 2015 is 207509 ; the average common and common equivalent shares outstanding 2014 assuming dilution of 2014 is 197709 ;" ]

[ [ "", "2016", "2015", "2014" ], [ "average common shares outstanding", "212702", "202537", "193299" ], [ "dilutive share equivalents from share-based plans", "4834", "4972", "4410" ], [ "average common and common equivalent shares outstanding 2014 assuming dilution", "217536", "207509", "197709" ] ]

[ "henry hub natural gas ( dollars per mmbtu ) ( a ) $ 2.79 $ 4.04 $ 4.39 ( a ) settlement date average .", "liquid hydrocarbon 2013 prices of crude oil have been volatile in recent years , but less so when comparing annual averages for 2012 and 2011 .", "in 2011 , crude prices increased over 2010 levels , with increases in brent averages outstripping those in wti .", "the quality , location and composition of our liquid hydrocarbon production mix will cause our u.s .", "liquid hydrocarbon realizations to differ from the wti benchmark .", "in 2012 , 2011 and 2010 , the percentage of our u.s .", "crude oil and condensate production that was sour averaged 37 percent , 58 percent and 68 percent .", "sour crude contains more sulfur and tends to be heavier than light sweet crude oil so that refining it is more costly and produces lower value products ; therefore , sour crude is considered of lower quality and typically sells at a discount to wti .", "the percentage of our u.s .", "crude and condensate production that is sour has been decreasing as onshore production from the eagle ford and bakken shale plays increases and production from the gulf of mexico declines .", "in recent years , crude oil sold along the u.s .", "gulf coast has been priced at a premium to wti because the louisiana light sweet benchmark has been tracking brent , while production from inland areas farther from large refineries has been at a discount to wti .", "ngls were 10 percent , 7 percent and 6 percent of our u.s .", "liquid hydrocarbon sales in 2012 , 2011 and 2010 .", "in 2012 , our sales of ngls increased due to our development of u.s .", "unconventional liquids-rich plays. ." ]

[ "item 7 .", "management 2019s discussion and analysis of financial condition and results of operations we are an international energy company with operations in the u.s. , canada , africa , the middle east and europe .", "our operations are organized into three reportable segments : 2022 e&p which explores for , produces and markets liquid hydrocarbons and natural gas on a worldwide basis .", "2022 osm which mines , extracts and transports bitumen from oil sands deposits in alberta , canada , and upgrades the bitumen to produce and market synthetic crude oil and vacuum gas oil .", "2022 ig which produces and markets products manufactured from natural gas , such as lng and methanol , in e.g .", "certain sections of management 2019s discussion and analysis of financial condition and results of operations include forward- looking statements concerning trends or events potentially affecting our business .", "these statements typically contain words such as \"anticipates\" \"believes\" \"estimates\" \"expects\" \"targets\" \"plans\" \"projects\" \"could\" \"may\" \"should\" \"would\" or similar words indicating that future outcomes are uncertain .", "in accordance with \"safe harbor\" provisions of the private securities litigation reform act of 1995 , these statements are accompanied by cautionary language identifying important factors , though not necessarily all such factors , which could cause future outcomes to differ materially from those set forth in forward-looking statements .", "for additional risk factors affecting our business , see item 1a .", "risk factors in this annual report on form 10-k .", "management 2019s discussion and analysis of financial condition and results of operations should be read in conjunction with the information under item 1 .", "business , item 1a .", "risk factors and item 8 .", "financial statements and supplementary data found in this annual report on form 10-k .", "spin-off downstream business on june 30 , 2011 , the spin-off of marathon 2019s downstream business was completed , creating two independent energy companies : marathon oil and mpc .", "marathon stockholders at the close of business on the record date of june 27 , 2011 received one share of mpc common stock for every two shares of marathon common stock held .", "a private letter tax ruling received in june 2011 from the irs affirmed the tax-free nature of the spin-off .", "activities related to the downstream business have been treated as discontinued operations in 2011 and 2010 ( see item 8 .", "financial statements and supplementary data 2013 note 3 to the consolidated financial statements for additional information ) .", "overview 2013 market conditions exploration and production prevailing prices for the various grades of crude oil and natural gas that we produce significantly impact our revenues and cash flows .", "the following table lists benchmark crude oil and natural gas price annual averages for the past three years. ." ]

[ "benchmark the wti crude oil ( dollars per bbl ) of 2012 is $ 94.15 ; the wti crude oil ( dollars per bbl ) of 2011 is $ 95.11 ; the wti crude oil ( dollars per bbl ) of 2010 is $ 79.61 ;" ]

[ [ "benchmark", "2012", "2011", "2010" ], [ "wti crude oil ( dollars per bbl )", "$ 94.15", "$ 95.11", "$ 79.61" ], [ "brent ( europe ) crude oil ( dollars per bbl )", "$ 111.65", "$ 111.26", "$ 79.51" ], [ "henry hub natural gas ( dollars per mmbtu ) ( a )", "$ 2.79", "$ 4.04", "$ 4.39" ] ]

[ "certain provisions of our long-term debt contain covenants that limit our ability and the ability of certain of our subsidiaries to , among other things : ( i ) incur debt ; ( ii ) make certain dividends , distributions and investments ; ( iii ) enter into certain transactions ; ( iv ) merge , consolidate or transfer certain assets ; and ( v ) sell assets .", "we and certain of our subsidiaries are also required to maintain total unencumbered assets of at least 150% ( 150 % ) of this group 2019s unsecured debt .", "derivatives and hedging in the normal course of business , we are exposed to the effect of interest rate changes .", "we limit these risks by following established risk management policies and procedures including the use of derivatives .", "for interest rate exposures , derivatives are used primarily to fix the rate on debt based on floating-rate indices and to manage the cost of borrowing obligations .", "we currently have an interest rate swap to manage interest rate risk ( the 201cswap 201d ) .", "we prohibit the use of derivative instruments for trading or speculative purposes .", "further , we have a policy of only entering into contracts with major financial institutions based upon their credit ratings and other factors .", "when viewed in conjunction with the underlying and offsetting exposure that the derivative is designed to hedge , we do not anticipate any material adverse effect on our net income or financial position in the future from the use of derivatives. ." ]

[ "ventas , inc .", "notes to consolidated financial statements 2014 ( continued ) if we experience certain kinds of changes of control , the issuers must make an offer to repurchase the senior notes , in whole or in part , at a purchase price in cash equal to 101% ( 101 % ) of the principal amount of the senior notes , plus any accrued and unpaid interest to the date of purchase ; provided , however , that in the event moody 2019s and s&p have confirmed their ratings at ba3 or higher and bb- or higher on the senior notes and certain other conditions are met , this repurchase obligation will not apply .", "mortgages at december 31 , 2006 , we had outstanding 53 mortgage loans that we assumed in connection with various acquisitions .", "outstanding principal balances on these loans ranged from $ 0.4 million to $ 114.4 million as of december 31 , 2006 .", "the loans bear interest at fixed rates ranging from 5.6% ( 5.6 % ) to 8.5% ( 8.5 % ) per annum , except with respect to eight loans with outstanding principal balances ranging from $ 0.4 million to $ 114.4 million , which bear interest at the lender 2019s variable rates , ranging from 3.6% ( 3.6 % ) to 8.5% ( 8.5 % ) per annum at of december 31 , 2006 .", "the fixed rate debt bears interest at a weighted average annual rate of 7.06% ( 7.06 % ) and the variable rate debt bears interest at a weighted average annual rate of 5.61% ( 5.61 % ) as of december 31 , 2006 .", "the loans had a weighted average maturity of eight years as of december 31 , 2006 .", "the $ 114.4 variable mortgage debt was repaid in january 2007 .", "scheduled maturities of borrowing arrangements and other provisions as of december 31 , 2006 , our indebtedness has the following maturities ( in thousands ) : ." ]

[ "2007 the 2010 of $ 130206 is 265915 ;", "2007 the 2009 of $ 130206 is 372725 ;" ]

[ [ "2007", "$ 130206" ], [ "2008", "33117" ], [ "2009", "372725" ], [ "2010", "265915" ], [ "2011", "273761" ], [ "thereafter", "1261265" ], [ "total maturities", "2336989" ], [ "less unamortized commission fees and discounts", "-7936 ( 7936 )" ], [ "senior notes payable and other debt", "$ 2329053" ] ]

[ "the company has begun to assess and formulate a plan to restructure certain of r2 2019s historical activities .", "as of the acquisition date the company recorded a liability of approximately $ 798 in accordance with eitf issue no .", "95-3 , recognition of liabilities in connection with a purchase business combination , related to the termination of certain employees and loss related to the abandonment of certain lease space under this plan of which approximately $ 46 has been paid as of september 30 , 2006 .", "the company believes this plan will be finalized within one year from the acquisition date and will record any additional liabilities at such time resulting in an increase to goodwill .", "the final purchase price allocations will be completed within one year of the acquisition and any adjustments are not expected to have a material impact on the company 2019s financial position or results of operation .", "as part of the purchase price allocation , all intangible assets that were a part of the acquisition were identified and valued .", "it was determined that only customer relationships , trademarks and developed technology had separately identifiable values .", "customer relationships represent r2 2019s strong active customer base , dominant market position and strong partnership with several large companies .", "trademarks represent the r2 product names that the company intends to continue to use .", "developed technology represents currently marketable purchased products that the company continues to resell as well as utilize to enhance and incorporate into the company 2019s existing products .", "the estimated $ 10200 of purchase price allocated to in-process research and development projects primarily related to r2s digital cad products .", "the projects are expected to add direct digital algorithm capabilities as well as a new platform technology to analyze images and breast density measurement .", "the project is approximately 20% ( 20 % ) complete and the company expects to spend approximately $ 3100 over the year to complete .", "the deferred income tax asset relates to the tax effect of acquired net operating loss carry forwards that the company believes are realizable partially offset by acquired identifiable intangible assets , and fair value adjustments to acquired inventory as such amounts are not deductible for tax purposes .", "acquisition of suros surgical systems , inc .", "on july 27 , 2006 , the company completed the acquisition of suros surgical systems , inc. , pursuant to an agreement and plan of merger dated april 17 , 2006 .", "the results of operations for suros have been included in the company 2019s consolidated financial statements from the date of acquisition as part of its mammography business segment .", "suros surgical , located in indianapolis , indiana , develops , manufactures and sells minimally invasive interventional breast biopsy technology and products for biopsy , tissue removal and biopsy site marking. ." ]

[ "hologic , inc .", "notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) determination of the measurement date for the market price of acquirer securities issued in a purchase business combination .", "the components and allocation of the purchase price , consists of the following approximate amounts: ." ]

[ "net tangible assets acquired as of july 13 2006 the goodwill of $ 800 is 145900 ;", "net tangible assets acquired as of july 13 2006 the estimated purchase price of $ 800 is $ 220600 ;" ]

[ [ "net tangible assets acquired as of july 13 2006", "$ 800" ], [ "in-process research and development", "10200" ], [ "developed technology and know how", "39500" ], [ "customer relationship", "15700" ], [ "trade name", "3300" ], [ "order backlog", "800" ], [ "deferred income taxes", "4400" ], [ "goodwill", "145900" ], [ "estimated purchase price", "$ 220600" ] ]

[ "weighted average shares outstanding for basic net earnings per share 227.3 235.5 243.0 effect of dilutive stock options and other equity awards 1.0 2.0 2.4 weighted average shares outstanding for diluted net earnings per share 228.3 237.5 245.4 for the year ended december 31 , 2008 , an average of 11.2 million options to purchase shares of common stock were not included in the computation of diluted earnings per share as the exercise prices of these options were greater than the average market price of the common stock .", "for the years ended december 31 , 2007 and 2006 , an average of 3.1 million and 7.6 million options , respectively , were not included .", "during 2008 , we repurchased approximately 10.8 million shares of our common stock at an average price of $ 68.72 per share for a total cash outlay of $ 737.0 million , including commissions .", "in april 2008 , we announced that our board of directors authorized a $ 1.25 billion share repurchase program which expires december 31 , 2009 .", "approximately $ 1.13 billion remains authorized under this plan .", "14 .", "segment data we design , develop , manufacture and market orthopaedic and dental reconstructive implants , spinal implants , trauma products and related surgical products which include surgical supplies and instruments designed to aid in orthopaedic surgical procedures and post-operation rehabilitation .", "we also provide other healthcare-related services .", "revenue related to these services currently represents less than 1 percent of our total net sales .", "we manage operations through three major geographic segments 2013 the americas , which is comprised principally of the united states and includes other north , central and south american markets ; europe , which is comprised principally of europe and includes the middle east and africa ; and asia pacific , which is comprised primarily of japan and includes other asian and pacific markets .", "this structure is the basis for our reportable segment information discussed below .", "management evaluates operating segment performance based upon segment operating profit exclusive of operating expenses pertaining to global operations and corporate expenses , share-based compensation expense , settlement , certain claims , acquisition , integration and other expenses , inventory step-up , in-process research and development write-offs and intangible asset amortization expense .", "global operations include research , development engineering , medical education , brand management , corporate legal , finance , and human resource functions , and u.s .", "and puerto rico-based manufacturing operations and logistics .", "intercompany transactions have been eliminated from segment operating profit .", "management reviews accounts receivable , inventory , property , plant and equipment , goodwill and intangible assets by reportable segment exclusive of u.s and puerto rico-based manufacturing operations and logistics and corporate assets .", "z i m m e r h o l d i n g s , i n c .", "2 0 0 8 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 ) %%transmsg*** transmitting job : c48761 pcn : 058000000 ***%%pcmsg|58 |00011|yes|no|02/24/2009 19:25|0|0|page is valid , no graphics -- color : d| ." ]

[ "reasonably possible that such matters will be resolved in the next twelve months , but we do not anticipate that the resolution of these matters would result in any material impact on our results of operations or financial position .", "foreign jurisdictions have statutes of limitations generally ranging from 3 to 5 years .", "years still open to examination by foreign tax authorities in major jurisdictions include australia ( 2003 onward ) , canada ( 2002 onward ) , france ( 2006 onward ) , germany ( 2005 onward ) , italy ( 2005 onward ) , japan ( 2002 onward ) , puerto rico ( 2005 onward ) , singapore ( 2003 onward ) , switzerland ( 2006 onward ) and the united kingdom ( 2006 onward ) .", "our tax returns are currently under examination in various foreign jurisdictions .", "the most significant foreign tax jurisdiction under examination is the united kingdom .", "it is reasonably possible that such audits will be resolved in the next twelve months , but we do not anticipate that the resolution of these audits would result in any material impact on our results of operations or financial position .", "13 .", "capital stock and earnings per share we are authorized to issue 250 million shares of preferred stock , none of which were issued or outstanding as of december 31 , 2008 .", "the numerator for both basic and diluted earnings per share is net earnings available to common stockholders .", "the denominator for basic earnings per share is the weighted average number of common shares outstanding during the period .", "the denominator for diluted earnings per share is weighted average shares outstanding adjusted for the effect of dilutive stock options and other equity awards .", "the following is a reconciliation of weighted average shares for the basic and diluted share computations for the years ending december 31 ( in millions ) : ." ]

[ "the weighted average shares outstanding for diluted net earnings per share of 2008 is 228.3 ; the weighted average shares outstanding for diluted net earnings per share of 2007 is 237.5 ; the weighted average shares outstanding for diluted net earnings per share of 2006 is 245.4 ;" ]

[ [ "", "2008", "2007", "2006" ], [ "weighted average shares outstanding for basic net earnings per share", "227.3", "235.5", "243.0" ], [ "effect of dilutive stock options and other equity awards", "1.0", "2.0", "2.4" ], [ "weighted average shares outstanding for diluted net earnings per share", "228.3", "237.5", "245.4" ] ]

[ "compensation expense related to stock options , stock appreciation rights , restricted stock awards , deferred stock awards and performance awards , which we record as a component of salaries and employee benefits expense in our consolidated statement of income , was $ 208 million , $ 110 million and $ 74 million for the years ended december 31 , 2006 , 2005 and 2004 , respectively .", "the related total income tax benefit recorded in our consolidated statement of income was $ 83 million , $ 44 million and $ 30 million for 2006 , 2005 and 2004 , respectively .", "seq 87 copyarea : 38 .", "x 54 .", "trimsize : 8.25 x 10.75 typeset state street corporation serverprocess c:\\\\fc\\\\delivery_1024177\\\\2771-1-do_p.pdf chksum : 0 cycle 1merrill corporation 07-2771-1 thu mar 01 17:11:13 2007 ( v 2.247w--stp1pae18 ) ." ]

[ "for the year ended december 31 , 2005 , we realized net losses of $ 1 million on sales of available-for- sale securities .", "unrealized gains of $ 1 million were included in other comprehensive income at december 31 , 2004 , net of deferred taxes of less than $ 1 million , related to these sales .", "for the year ended december 31 , 2004 , we realized net gains of $ 26 million on sales of available-for- sale securities .", "unrealized gains of $ 11 million were included in other comprehensive income at december 31 , 2003 , net of deferred taxes of $ 7 million , related to these sales .", "note 13 .", "equity-based compensation the 2006 equity incentive plan was approved by shareholders in april 2006 , and 20000000 shares of common stock were approved for issuance for stock and stock-based awards , including stock options , stock appreciation rights , restricted stock , deferred stock and performance awards .", "in addition , up to 8000000 shares from our 1997 equity incentive plan , that were available to issue or become available due to cancellations and forfeitures , may be awarded under the 2006 plan .", "the 1997 plan expired on december 18 , 2006 .", "as of december 31 , 2006 , 1305420 shares from the 1997 plan have been added to and may be awarded from the 2006 plan .", "as of december 31 , 2006 , 106045 awards have been made under the 2006 plan .", "we have stock options outstanding from previous plans , including the 1997 plan , under which no further grants can be made .", "the exercise price of non-qualified and incentive stock options and stock appreciation rights may not be less than the fair value of such shares at the date of grant .", "stock options and stock appreciation rights issued under the 2006 plan and the prior 1997 plan generally vest over four years and expire no later than ten years from the date of grant .", "for restricted stock awards issued under the 2006 plan and the prior 1997 plan , stock certificates are issued at the time of grant and recipients have dividend and voting rights .", "in general , these grants vest over three years .", "for deferred stock awards issued under the 2006 plan and the prior 1997 plan , no stock is issued at the time of grant .", "generally , these grants vest over two- , three- or four-year periods .", "performance awards granted under the 2006 equity incentive plan and the prior 1997 plan are earned over a performance period based on achievement of goals , generally over two- to three- year periods .", "payment for performance awards is made in shares of our common stock or in cash equal to the fair market value of our common stock , based on certain financial ratios after the conclusion of each performance period .", "we record compensation expense , equal to the estimated fair value of the options on the grant date , on a straight-line basis over the options 2019 vesting period .", "we use a black-scholes option-pricing model to estimate the fair value of the options granted .", "the weighted-average assumptions used in connection with the option-pricing model were as follows for the years indicated. ." ]

[ "the risk-free interest rate of 2006 is 4.60 ; the risk-free interest rate of 2005 is 4.19 ; the risk-free interest rate of 2004 is 3.02 ;" ]

[ [ "", "2006", "2005", "2004" ], [ "dividend yield", "1.41% ( 1.41 % )", "1.85% ( 1.85 % )", "1.35% ( 1.35 % )" ], [ "expected volatility", "26.50", "28.70", "27.10" ], [ "risk-free interest rate", "4.60", "4.19", "3.02" ], [ "expected option lives ( in years )", "7.8", "7.8", "5.0" ] ]

[ "the volume/weather variance is primarily due to an increase of 348 gwh , or 7% ( 7 % ) , in billed retail electricity usage primarily due to more favorable weather compared to last year .", "the net gas revenue variance is primarily due to more favorable weather compared to last year , along with the recognition of a gas regulatory asset associated with the settlement of entergy new orleans 2019s electric and gas formula rate plans .", "see note 2 to the financial statements for further discussion of the formula rate plan settlement .", "the effect of 2009 rate case settlement variance results from the april 2009 settlement of entergy new orleans 2019s rate case , and includes the effects of realigning non-fuel costs associated with the operation of grand gulf from the fuel adjustment clause to electric base rates effective june 2009 .", "see note 2 to the financial statements for further discussion of the rate case settlement .", "other income statement variances 2011 compared to 2010 other operation and maintenance expenses decreased primarily due to the deferral in 2011 of $ 13.4 million of 2010 michoud plant maintenance costs pursuant to the settlement of entergy new orleans 2019s 2010 test year formula rate plan filing approved by the city council in september 2011 and a decrease of $ 8.0 million in fossil- fueled generation expenses due to higher plant outage costs in 2010 due to a greater scope of work at the michoud plant .", "see note 2 to the financial statements for more discussion of the 2010 test year formula rate plan filing. ." ]

[ "entergy new orleans , inc .", "management 2019s financial discussion and analysis the volume/weather variance is primarily due to an increase in electricity usage in the residential and commercial sectors due in part to a 4% ( 4 % ) increase in the average number of residential customers and a 3% ( 3 % ) increase in the average number of commercial customers , partially offset by the effect of less favorable weather on residential sales .", "gross operating revenues gross operating revenues decreased primarily due to : a decrease of $ 16.2 million in electric fuel cost recovery revenues due to lower fuel rates ; a decrease of $ 15.4 million in gross gas revenues primarily due to lower fuel cost recovery revenues as a result of lower fuel rates and the effect of milder weather ; and formula rate plan decreases effective october 2010 and october 2011 , as discussed above .", "the decrease was partially offset by an increase in gross wholesale revenue due to increased sales to affiliated customers and more favorable volume/weather , as discussed above .", "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 ) ." ]

[ "gross operating revenues gross operating revenues decreased primarily due to : a decrease of $ 16.2 million in electric fuel cost recovery revenues due to lower fuel rates ; a decrease of $ 15.4 million in gross gas revenues primarily due to lower fuel cost recovery revenues as a result of lower fuel rates and the effect of milder weather ; and formula rate plan decreases effective october 2010 and october 2011 , as discussed above ." ]

[ [ "", "amount ( in millions )" ], [ "2009 net revenue", "$ 243.0" ], [ "volume/weather", "17.0" ], [ "net gas revenue", "14.2" ], [ "effect of 2009 rate case settlement", "-6.6 ( 6.6 )" ], [ "other", "5.3" ], [ "2010 net revenue", "$ 272.9" ] ]

[ "in the chart above , the unit shares and related weighted- average grant-date fair value of the incentive/performance awards exclude the effect of dividends on the underlying shares , as those dividends will be paid in cash .", "at december 31 , 2011 , there was $ 61 million of unrecognized deferred compensation expense related to nonvested share- based compensation arrangements granted under the incentive plans .", "this cost is expected to be recognized as expense over a period of no longer than five years .", "the total fair value of incentive/performance unit share and restricted stock/unit awards vested during 2011 , 2010 and 2009 was approximately $ 52 million , $ 39 million and $ 47 million , respectively .", "liability awards we grant annually cash-payable restricted share units to certain executives .", "the grants were made primarily as part of an annual bonus incentive deferral plan .", "while there are time- based and service-related vesting criteria , there are no market or performance criteria associated with these awards .", "compensation expense recognized related to these awards was recorded in prior periods as part of annual cash bonus criteria .", "as of december 31 , 2011 , there were 753203 of these cash- payable restricted share units outstanding .", "174 the pnc financial services group , inc .", "2013 form 10-k ." ]

[ "there were no options granted in excess of market value in 2011 , 2010 or 2009 .", "shares of common stock available during the next year for the granting of options and other awards under the incentive plans were 33775543 at december 31 , 2011 .", "total shares of pnc common stock authorized for future issuance under equity compensation plans totaled 35304422 shares at december 31 , 2011 , which includes shares available for issuance under the incentive plans and the employee stock purchase plan ( espp ) as described below .", "during 2011 , we issued 731336 shares from treasury stock in connection with stock option exercise activity .", "as with past exercise activity , we currently intend to utilize primarily treasury stock for any future stock option exercises .", "awards granted to non-employee directors in 2011 , 2010 and 2009 include 27090 , 29040 , and 39552 deferred stock units , respectively , awarded under the outside directors deferred stock unit plan .", "a deferred stock unit is a phantom share of our common stock , which requires liability accounting treatment until such awards are paid to the participants as cash .", "as there are no vesting or service requirements on these awards , total compensation expense is recognized in full on awarded deferred stock units on the date of grant .", "incentive/performance unit share awards and restricted stock/unit awards the fair value of nonvested incentive/performance unit share awards and restricted stock/unit awards is initially determined based on prices not less than the market value of our common stock price on the date of grant .", "the value of certain incentive/ performance unit share awards is subsequently remeasured based on the achievement of one or more financial and other performance goals generally over a three-year period .", "the personnel and compensation committee of the board of directors approves the final award payout with respect to incentive/performance unit share awards .", "restricted stock/unit awards have various vesting periods generally ranging from 36 months to 60 months .", "beginning in 2011 , we incorporated two changes to certain awards under our existing long-term incentive compensation programs .", "first , for certain grants of incentive performance units , the future payout amount will be subject to a negative annual adjustment if pnc fails to meet certain risk-related performance metrics .", "this adjustment is in addition to the existing financial performance metrics relative to our peers .", "these grants have a three-year performance period and are payable in either stock or a combination of stock and cash .", "second , performance-based restricted share units ( performance rsus ) were granted in 2011 to certain of our executives in lieu of stock options .", "these performance rsus ( which are payable solely in stock ) have a service condition , an internal risk-related performance condition , and an external market condition .", "satisfaction of the performance condition is based on four independent one-year performance periods .", "the weighted-average grant-date fair value of incentive/ performance unit share awards and restricted stock/unit awards granted in 2011 , 2010 and 2009 was $ 63.25 , $ 54.59 and $ 41.16 per share , respectively .", "we recognize compensation expense for such awards ratably over the corresponding vesting and/or performance periods for each type of program .", "nonvested incentive/performance unit share awards and restricted stock/unit awards 2013 rollforward shares in thousands nonvested incentive/ performance unit shares weighted- average date fair nonvested restricted stock/ shares weighted- average date fair ." ]

[ "there were no options granted in excess of market value in 2011 , 2010 or 2009 .", "during 2011 , we issued 731336 shares from treasury stock in connection with stock option exercise activity .", "shares of common stock available during the next year for the granting of options and other awards under the incentive plans were 33775543 at december 31 , 2011 ." ]

[ [ "shares in thousands december 31 2010", "nonvested incentive/ performance unit shares 363", "weighted- average grant date fair value $ 56.40", "nonvested restricted stock/ unit shares 2250", "weighted- average grant date fair value $ 49.95" ], [ "granted", "623", "64.21", "1059", "62.68" ], [ "vested", "-156 ( 156 )", "59.54", "-706 ( 706 )", "51.27" ], [ "forfeited", "", "", "-91 ( 91 )", "52.24" ], [ "december 31 2011", "830", "$ 61.68", "2512", "$ 54.87" ] ]

[ "the total amount of unrecognized tax benefits that , if recognized , would affect the effective tax rate as of january 1 , 2007 and december 31 , 2007 , respectively , are $ 261 million and $ 334 million .", "the ending net utb results from adjusting the gross balance at december 31 , 2007 for items such as federal , state , and non-u.s .", "deferred items , interest and penalties , and deductible taxes .", "the net utb is included as components of accrued income taxes and other liabilities within the consolidated balance sheet .", "the company recognizes interest and penalties accrued related to unrecognized tax benefits in tax expense .", "at january 1 , 2007 and december 31 , 2007 , accrued interest and penalties on a gross basis were $ 65 million and $ 69 million , respectively .", "included in these interest and penalty amounts is interest and penalties related to tax positions for which the ultimate deductibility is highly certain but for which there is uncertainty about the timing of such deductibility .", "because of the impact of deferred tax accounting , other than interest and penalties , the disallowance of the shorter deductibility period would not affect the annual effective tax rate but would accelerate the payment of cash to the taxing authority to an earlier period .", "in 2007 , the company completed the preparation and filing of its 2006 u.s .", "federal and state income tax returns , which did not result in any material changes to the company 2019s financial position .", "in 2006 , an audit of the company 2019s u.s .", "tax returns for years through 2001 was completed .", "the company and the internal revenue service reached a final settlement for these years , including an agreement on the amount of a refund claim to be filed by the company .", "the company also substantially resolved audits in certain european countries .", "in addition , the company completed the preparation and filing of its 2005 u.s .", "federal income tax return and the corresponding 2005 state income tax returns .", "the adjustments from amounts previously estimated in the u.s .", "federal and state income tax returns ( both positive and negative ) included lower u.s .", "taxes on dividends received from the company's foreign subsidiaries .", "the company also made quarterly adjustments ( both positive and negative ) to its reserves for tax contingencies .", "considering the developments noted above and other factors , including the impact on open audit years of the recent resolution of issues in various audits , these reassessments resulted in a reduction of the reserves in 2006 by $ 149 million , inclusive of the expected amount of certain refund claims .", "in 2005 , the company announced its intent to reinvest $ 1.7 billion of foreign earnings in the united states pursuant to the provisions of the american jobs creation act of 2004 .", "this act provided the company the opportunity to tax- ." ]

[ "the company files income tax returns in the u.s .", "federal jurisdiction , and various states and foreign jurisdictions .", "with few exceptions , the company is no longer subject to u.s .", "federal , state and local , or non-u.s .", "income tax examinations by tax authorities for years before 1999 .", "it is anticipated that its examination for the company 2019s u.s .", "income tax returns for the years 2002 through 2004 will be completed by the end of first quarter 2008 .", "as of december 31 , 2007 , the irs has proposed adjustments to the company 2019s tax positions for which the company is fully reserved .", "payments relating to any proposed assessments arising from the 2002 through 2004 audit may not be made until a final agreement is reached between the company and the irs on such assessments or upon a final resolution resulting from the administrative appeals process or judicial action .", "in addition to the u.s .", "federal examination , there is also limited audit activity in several u.s .", "state and foreign jurisdictions .", "currently , the company expects the liability for unrecognized tax benefits to change by an insignificant amount during the next 12 months .", "the company adopted the provisions of fasb interpretation no .", "48 , 201caccounting for uncertainty in income taxes , 201d on january 1 , 2007 .", "as a result of the implementation of interpretation 48 , the company recognized an immaterial increase in the liability for unrecognized tax benefits , which was accounted for as a reduction to the january 1 , 2007 , balance of retained earnings .", "a reconciliation of the beginning and ending amount of gross unrecognized tax benefits ( 201cutb 201d ) is as follows : ( millions ) federal , state , and foreign tax ." ]

[ "( millions ) the gross utb balance at january 1 2007 of federal state and foreign tax is $ 691 ;", "48 , 201caccounting for uncertainty in income taxes , 201d on january 1 , 2007 .", "at january 1 , 2007 and december 31 , 2007 , accrued interest and penalties on a gross basis were $ 65 million and $ 69 million , respectively ." ]

[ [ "( millions )", "federal state and foreign tax" ], [ "gross utb balance at january 1 2007", "$ 691" ], [ "additions based on tax positions related to the current year", "79" ], [ "additions for tax positions of prior years", "143" ], [ "reductions for tax positions of prior years", "-189 ( 189 )" ], [ "settlements", "-24 ( 24 )" ], [ "reductions due to lapse of applicable statute of limitations", "-20 ( 20 )" ], [ "gross utb balance at december 31 2007", "$ 680" ], [ "net utb impacting the effective tax rate at december 31 2007", "$ 334" ] ]

[ "total future minimum sponsorship and other payments $ 1355605 the amounts listed above are the minimum compensation obligations and guaranteed royalty fees required to be paid under the company 2019s sponsorship and other marketing agreements .", "the amounts listed above do not include additional performance incentives and product supply obligations provided under certain agreements .", "it is not possible to determine how much the company will spend on product supply obligations on an annual basis as contracts generally do not stipulate specific cash amounts to be spent on products .", "the amount of product provided to the sponsorships depends on many factors including general playing conditions , the number of sporting events in which they participate and the company 2019s decisions regarding product and marketing initiatives .", "in addition , the costs to design , develop , source and purchase the products furnished to the endorsers are incurred over a period of time and are not necessarily tracked separately from similar costs incurred for products sold to customers .", "in connection with various contracts and agreements , the company has agreed to indemnify counterparties against certain third party claims relating to the infringement of intellectual property rights and other items .", "generally , such indemnification obligations do not apply in situations in which the counterparties are grossly negligent , engage in willful misconduct , or act in bad faith .", "based on the company 2019s historical experience and the estimated probability of future loss , the company has determined that the fair value of such indemnifications is not material to its consolidated financial position or results of operations .", "from time to time , the company is involved in litigation and other proceedings , including matters related to commercial and intellectual property disputes , as well as trade , regulatory and other claims related to its business .", "other than as described below , the company believes that all current proceedings are routine in nature and incidental to the conduct of its business , and that the ultimate resolution of any such proceedings will not have a material adverse effect on its consolidated financial position , results of operations or cash flows .", "on february 10 , 2017 , a shareholder filed a securities case in the united states district court for the district of maryland ( the 201ccourt 201d ) against the company , the company 2019s chief executive officer and the company 2019s former chief financial officer ( brian breece v .", "under armour , inc. ) .", "on february 16 , 2017 , a second shareholder filed a securities case in the court against the same defendants ( jodie hopkins v .", "under armour , inc. ) .", "the plaintiff in each case purports to represent a class of shareholders for the period between april 21 , 2016 and january 30 , 2017 , inclusive .", "the complaints allege violations of section 10 ( b ) ( and rule 10b-5 ) of the securities exchange act of 1934 , as amended ( the 201cexchange act 201d ) and section 20 ( a ) control person liability under the exchange act against the officers named in the complaints .", "in general , the allegations in each case concern disclosures and statements made by ." ]

[ "2016 , as well as significant sponsorship and other marketing agreements entered into during the period after december 31 , 2016 through the date of this report : ( in thousands ) ." ]

[ "2017 the total future minimum sponsorship and other payments of $ 176138 is $ 1355605 ;" ]

[ [ "2017", "$ 176138" ], [ "2018", "166961" ], [ "2019", "142987" ], [ "2020", "124856" ], [ "2021", "118168" ], [ "2022 and thereafter", "626495" ], [ "total future minimum sponsorship and other payments", "$ 1355605" ] ]

[ "." ]

[ "company stock performance the following graph shows a five-year comparison of cumulative total shareholder return , calculated on a dividend reinvested basis , for the company , the s&p 500 composite index , the s&p computer hardware index , and the dow jones u.s .", "technology index .", "the graph assumes $ 100 was invested in each of the company 2019s common stock , the s&p 500 composite index , the s&p computer hardware index , and the dow jones u.s .", "technology index on september 30 , 2006 .", "data points on the graph are annual .", "note that historic stock price performance is not necessarily indicative of future stock price performance .", "comparison of 5 year cumulative total return* among apple inc. , the s&p 500 index , the s&p computer hardware index and the dow jones us technology index sep-10sep-09sep-08sep-07sep-06 sep-11 apple inc .", "s&p 500 s&p computer hardware dow jones us technology *$ 100 invested on 9/30/06 in stock or index , including reinvestment of dividends .", "fiscal year ending september 30 .", "copyright a9 2011 s&p , a division of the mcgraw-hill companies inc .", "all rights reserved .", "copyright a9 2011 dow jones & co .", "all rights reserved .", "september 30 , september 30 , september 30 , september 30 , september 30 , september 30 ." ]

[ "the apple inc . of september 30 2006 is $ 100 ; the apple inc . of september 30 2007 is $ 199 ; the apple inc . of september 30 2008 is $ 148 ; the apple inc . of september 30 2009 is $ 241 ; the apple inc . of september 30 2010 is $ 369 ; the apple inc . of september 30 2011 is $ 495 ;" ]

[ [ "", "september 30 2006", "september 30 2007", "september 30 2008", "september 30 2009", "september 30 2010", "september 30 2011" ], [ "apple inc .", "$ 100", "$ 199", "$ 148", "$ 241", "$ 369", "$ 495" ], [ "s&p 500", "$ 100", "$ 116", "$ 91", "$ 85", "$ 93", "$ 94" ], [ "s&p computer hardware", "$ 100", "$ 148", "$ 124", "$ 147", "$ 174", "$ 197" ], [ "dow jones us technology", "$ 100", "$ 123", "$ 94", "$ 104", "$ 117", "$ 120" ] ]

[ "( 1 ) the company determines the adjustment for taxes on international operations based on the difference between the statutory tax rate applicable to earnings in each foreign jurisdiction and the enacted rate of 19.0% ( 19.0 % ) , 19.3% ( 19.3 % ) and 20.0% ( 20.0 % ) at december 31 , 2018 , 2017 , and 2016 , respectively .", "the benefit to the company 2019s effective income tax rate from taxes on international operations relates to benefits from lower-taxed global operations , primarily due to the use of global funding structures and the tax holiday in singapore .", "the impact decreased from 2017 to 2018 primarily as a result of the decrease in the u.s .", "federal tax ( 2 ) with the adoption of asu 2016-09 in 2017 , excess tax benefits and deficiencies from share-based payment transactions are recognized as income tax expense or benefit in the company 2019s consolidated statements of income .", "( 3 ) the impact of the tax reform act including the transition tax , the re-measurement of u.s .", "deferred tax assets and liabilities from 35% ( 35 % ) to 21% ( 21 % ) , withholding tax accruals , and the allocation of tax benefit between continuing operations and discontinued operations related to utilization of foreign tax credits. ." ]

[ "." ]

[ "years ended december 31 the statutory tax rate of 2018 is 19.0% ( 19.0 % ) ; the statutory tax rate of 2017 is 19.3% ( 19.3 % ) ; the statutory tax rate of 2016 is 20.0% ( 20.0 % ) ;", "years ended december 31 the effective tax rate of 2018 is 11.7% ( 11.7 % ) ; the effective tax rate of 2017 is 36.5% ( 36.5 % ) ; the effective tax rate of 2016 is 10.6% ( 10.6 % ) ;" ]

[ [ "years ended december 31", "2018", "2017", "2016" ], [ "statutory tax rate", "19.0% ( 19.0 % )", "19.3% ( 19.3 % )", "20.0% ( 20.0 % )" ], [ "u.s . state income taxes net of u.s . federal benefit", "-0.4 ( 0.4 )", "-1.5 ( 1.5 )", "0.4" ], [ "taxes on international operations ( 1 )", "-7.3 ( 7.3 )", "-30.3 ( 30.3 )", "-12.2 ( 12.2 )" ], [ "nondeductible expenses", "2.7", "3.4", "1.4" ], [ "adjustments to prior year tax requirements", "0.9", "2.0", "-1.2 ( 1.2 )" ], [ "adjustments to valuation allowances", "3.8", "-1.8 ( 1.8 )", "-2.2 ( 2.2 )" ], [ "change in uncertain tax positions", "0.9", "1.6", "3.2" ], [ "excess tax benefits related to shared based compensation ( 2 )", "-3.6 ( 3.6 )", "-8.0 ( 8.0 )", "2014" ], [ "u.s . tax reform impact ( 3 )", "7.1", "51.2", "2014" ], [ "loss on disposition", "-10.2 ( 10.2 )", "2014", "2014" ], [ "other 2014 net", "-1.2 ( 1.2 )", "0.6", "1.2" ], [ "effective tax rate", "11.7% ( 11.7 % )", "36.5% ( 36.5 % )", "10.6% ( 10.6 % )" ] ]

[ "significant customers centene receives the majority of its revenues under contracts or subcontracts with state medicaid managed care programs .", "the contracts , which expire on various dates between june 30 , 2006 and august 31 , 2008 , are expected to be renewed .", "contracts with the states of indiana , kansas , texas and wisconsin each accounted for 18% ( 18 % ) , 12% ( 12 % ) , 22% ( 22 % ) and 23% ( 23 % ) , respectively , of the company 2019s revenues for the year ended december 31 , 2005 .", "reinsurance centene has purchased reinsurance from third parties to cover eligible healthcare services .", "the current reinsurance program covers 90% ( 90 % ) of inpatient healthcare expenses in excess of annual deductibles of $ 300 per member , up to a lifetime maximum of $ 2000 .", "centene 2019s medicaid managed care subsidiaries are respon- sible for inpatient charges in excess of an average daily per diem .", "reinsurance recoveries were $ 4014 , $ 3730 , and $ 5345 , in 2005 , 2004 , and 2003 , respectively .", "reinsurance expenses were approximately $ 4105 , $ 6724 , and $ 6185 in 2005 , 2004 , and 2003 , respectively .", "reinsurance recoveries , net of expenses , are included in medical costs .", "other income ( expense ) other income ( expense ) consists principally of investment income and interest expense .", "investment income is derived from the company 2019s cash , cash equivalents , restricted deposits and investments .", "interest expense relates to borrowings under our credit facility , mortgage interest , interest on capital leases and credit facility fees .", "income taxes deferred tax assets and liabilities are recorded for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases .", "deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled .", "the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date of the tax rate change .", "valuation allowances are provided when it is considered more likely than not that deferred tax assets will not be realized .", "in determining if a deductible temporary difference or net operating loss can be realized , the company considers future reversals of ." ]

[ "goodwill is reviewed annually during the fourth quarter for impairment .", "in addition , the company performs an impairment analysis of other intangible assets based on the occurrence of other factors .", "such factors include , but are not limited to , signifi- cant changes in membership , state funding , medical contracts and provider networks and contracts .", "an impairment loss is rec- ognized if the carrying value of intangible assets exceeds the implied fair value .", "the company did not recognize any impair- ment losses for the periods presented .", "medical claims liabilities medical services costs include claims paid , claims reported but not yet paid ( inventory ) , estimates for claims incurred but not yet received ( ibnr ) and estimates for the costs necessary to process unpaid claims .", "the estimates of medical claims liabilities are developed using standard actuarial methods based upon historical data for payment patterns , cost trends , product mix , seasonality , utiliza- tion of healthcare services and other relevant factors including product changes .", "these estimates are continually reviewed and adjustments , if necessary , are reflected in the period known .", "management did not change actuarial methods during the years presented .", "management believes the amount of medical claims payable is reasonable and adequate to cover the company 2019s liabil- ity for unpaid claims as of december 31 , 2005 ; however , actual claim payments may differ from established estimates .", "revenue recognition the majority of the company 2019s medicaid managed care premi- um revenue is received monthly based on fixed rates per member as determined by state contracts .", "some contracts allow for addi- tional premium related to certain supplemental services provided such as maternity deliveries .", "revenue is recognized as earned over the covered period of services .", "revenues are recorded based on membership and eligibility data provided by the states , which may be adjusted by the states for updates to this membership and eligibility data .", "these adjustments are immaterial in relation to total revenue recorded and are reflected in the period known .", "premiums collected in advance are recorded as unearned revenue .", "the specialty services segment generates revenue under con- tracts with state and local government entities , our health plans and third-party customers .", "revenues for services are recognized when the services are provided or as ratably earned over the cov- ered period of services .", "for performance-based contracts , the company does not recognize revenue subject to refund until data is sufficient to measure performance .", "such amounts are recorded as unearned revenue .", "revenues due to the company are recorded as premium and related receivables and recorded net of an allowance for uncol- lectible accounts based on historical trends and management 2019s judgment on the collectibility of these accounts .", "activity in the allowance for uncollectible accounts for the years ended december 31 is summarized below: ." ]

[ "the allowances end of year of 2005 is $ 343 ; the allowances end of year of 2004 is $ 462 ; the allowances end of year of 2003 is $ 607 ;" ]

[ [ "", "2005", "2004", "2003" ], [ "allowances beginning of year", "$ 462", "$ 607", "$ 219" ], [ "amounts charged to expense", "80", "407", "472" ], [ "write-offs of uncollectible receivables", "-199 ( 199 )", "-552 ( 552 )", "-84 ( 84 )" ], [ "allowances end of year", "$ 343", "$ 462", "$ 607" ] ]

[ "." ]

[ "table of contents notes to consolidated financial statements ( continued ) note 6 2014shareholders 2019 equity preferred stock the company has five million shares of authorized preferred stock , none of which is issued or outstanding .", "under the terms of the company 2019s restated articles of incorporation , the board of directors is authorized to determine or alter the rights , preferences , privileges and restrictions of the company 2019s authorized but unissued shares of preferred stock .", "ceo restricted stock award on march 19 , 2003 , the company 2019s board of directors granted 10 million shares of restricted stock to the company 2019s ceo that vested on march 19 , 2006 .", "the amount of the restricted stock award expensed by the company was based on the closing market price of the company 2019s common stock on the date of grant and was amortized ratably on a straight-line basis over the three-year requisite service period .", "upon vesting during 2006 , the 10 million shares of restricted stock had a fair value of $ 646.6 million and had grant-date fair value of $ 7.48 per share .", "the restricted stock award was net-share settled such that the company withheld shares with value equivalent to the ceo 2019s minimum statutory obligation for the applicable income and other employment taxes , and remitted the cash to the appropriate taxing authorities .", "the total shares withheld of 4.6 million were based on the value of the restricted stock award on the vesting date as determined by the company 2019s closing stock price of $ 64.66 .", "the remaining shares net of those withheld were delivered to the company 2019s ceo .", "total payments for the ceo 2019s tax obligations to the taxing authorities was $ 296 million in 2006 and are reflected as a financing activity within the consolidated statements of cash flows .", "the net-share settlement had the effect of share repurchases by the company as it reduced and retired the number of shares outstanding and did not represent an expense to the company .", "the company 2019s ceo has no remaining shares of restricted stock .", "for the year ended september 30 , 2006 , compensation expense related to restricted stock was $ 4.6 million .", "comprehensive income comprehensive income consists of two components , net income and other comprehensive income .", "other comprehensive income refers to revenue , expenses , gains , and losses that under u.s .", "generally accepted accounting principles are recorded as an element of shareholders 2019 equity but are excluded from net income .", "the company 2019s other comprehensive income consists of foreign currency translation adjustments from those subsidiaries not using the u.s .", "dollar as their functional currency , unrealized gains and losses on marketable securities categorized as available- for-sale , and net deferred gains and losses on certain derivative instruments accounted for as cash flow hedges .", "the following table summarizes the components of accumulated other comprehensive income , net of taxes , as of the three fiscal years ended september 27 , 2008 ( in millions ) : the change in fair value of available-for-sale securities included in other comprehensive income was $ ( 63 ) million , $ ( 7 ) million , and $ 4 million , net of taxes in 2008 , 2007 , and 2006 , respectively .", "the tax effect related to the change in unrealized gain/loss on available-for-sale securities was $ 42 million , $ 4 million , and $ ( 2 ) million for 2008 , 2007 , and 2006 , respectively. ." ]

[ "the cumulative foreign currency translation of 2008 is 59 ; the cumulative foreign currency translation of 2007 is 70 ; the cumulative foreign currency translation of 2006 is 19 ;", "table of contents notes to consolidated financial statements ( continued ) note 6 2014shareholders 2019 equity preferred stock the company has five million shares of authorized preferred stock , none of which is issued or outstanding ." ]

[ [ "", "2008", "2007", "2006" ], [ "unrealized losses on available-for-sale securities", "$ -70 ( 70 )", "$ -7 ( 7 )", "$ 2014" ], [ "unrealized gains on derivative instruments", "19", "2014", "3" ], [ "cumulative foreign currency translation", "59", "70", "19" ], [ "accumulated other comprehensive income", "$ 8", "$ 63", "$ 22" ] ]

[ "distribution 2019s 2009 annual sales decreased 18% ( 18 % ) from 2008 and 11% ( 11 % ) from 2007 while operating profits in 2009 decreased 51% ( 51 % ) compared with 2008 and 54% ( 54 % ) compared with 2007 .", "annual sales of printing papers and graphic arts supplies and equipment totaled $ 4.1 billion in 2009 compared with $ 5.2 billion in 2008 and $ 4.7 billion in 2007 , reflecting weak economic conditions in 2009 .", "trade margins as a percent of sales for printing papers increased from 2008 but decreased from 2007 due to a higher mix of lower margin direct ship- ments from manufacturers .", "revenue from packaging products was $ 1.3 billion in 2009 compared with $ 1.7 billion in 2008 and $ 1.5 billion in 2007 .", "trade margins as a percent of sales for packaging products were higher than in the past two years reflecting an improved product and service mix .", "facility supplies annual revenue was $ 1.1 billion in 2009 , essentially ." ]

[ "higher in the first half of the year , but declined dur- ing the second half of the year reflecting the pass- through to customers of lower resin input costs .", "however , average margins benefitted from a more favorable mix of products sold .", "raw material costs were lower , primarily for resins .", "freight costs were also favorable , while operating costs increased .", "shorewood sales volumes in 2009 declined from 2008 levels reflecting weaker demand in the home entertainment segment and a decrease in tobacco segment orders as customers have shifted pro- duction outside of the united states , partially offset by higher shipments in the consumer products segment .", "average sales margins improved reflecting a more favorable mix of products sold .", "raw material costs were higher , but were partially offset by lower freight costs .", "operating costs were favorable , reflect- ing benefits from business reorganization and cost reduction actions taken in 2008 and 2009 .", "charges to restructure operations totaled $ 7 million in 2009 and $ 30 million in 2008 .", "entering 2010 , coated paperboard sales volumes are expected to increase , while average sales price real- izations should be comparable to 2009 fourth-quarter levels .", "raw material costs are expected to be sig- nificantly higher for wood , energy and chemicals , but planned maintenance downtime costs will decrease .", "foodservice sales volumes are expected to remain about flat , but average sales price realizations should improve slightly .", "input costs for resins should be higher , but will be partially offset by lower costs for bleached board .", "shorewood sales volumes are expected to decline reflecting seasonal decreases in home entertainment segment shipments .", "operating costs are expected to be favorable reflecting the benefits of business reorganization efforts .", "european consumer packaging net sales in 2009 were $ 315 million compared with $ 300 million in 2008 and $ 280 million in 2007 .", "operating earnings in 2009 of $ 66 million increased from $ 22 million in 2008 and $ 30 million in 2007 .", "sales volumes in 2009 were higher than in 2008 reflecting increased ship- ments to export markets .", "average sales margins declined due to increased shipments to lower- margin export markets and lower average sales prices in western europe .", "entering 2010 , sales volumes for the first quarter are expected to remain strong .", "average margins should improve reflecting increased sales price realizations and a more favorable geographic mix of products sold .", "input costs are expected to be higher due to increased wood prices in poland and annual energy tariff increases in russia .", "asian consumer packaging net sales were $ 545 million in 2009 compared with $ 390 million in 2008 and $ 330 million in 2007 .", "operating earnings in 2009 were $ 24 million compared with a loss of $ 13 million in 2008 and earnings of $ 12 million in 2007 .", "the improved operating earnings in 2009 reflect increased sales volumes , higher average sales mar- gins and lower input costs , primarily for chemicals .", "the loss in 2008 was primarily due to a $ 12 million charge to revalue pulp inventories at our shandong international paper and sun coated paperboard co. , ltd .", "joint venture and start-up costs associated with the joint venture 2019s new folding box board paper machine .", "distribution xpedx , our distribution business , markets a diverse array of products and supply chain services to cus- tomers in many business segments .", "customer demand is generally sensitive to changes in general economic conditions , although the commercial printing segment is also dependent on consumer advertising and promotional spending .", "distribution 2019s margins are relatively stable across an economic cycle .", "providing customers with the best choice and value in both products and supply chain services is a key competitive factor .", "additionally , efficient customer service , cost-effective logistics and focused working capital management are key factors in this segment 2019s profitability .", "distribution in millions 2009 2008 2007 ." ]

[ "annual sales of printing papers and graphic arts supplies and equipment totaled $ 4.1 billion in 2009 compared with $ 5.2 billion in 2008 and $ 4.7 billion in 2007 , reflecting weak economic conditions in 2009 ." ]

[ [ "in millions", "2009", "2008", "2007" ], [ "sales", "$ 6525", "$ 7970", "$ 7320" ], [ "operating profit", "50", "103", "108" ] ]

[ "as shown in the table above , net revenue for entergy wholesale commodities decreased by approximately $ 124 million in 2016 primarily due to : 2022 lower realized wholesale energy prices and lower capacity prices , although the average revenue per mwh shown in the table below for the nuclear fleet is slightly higher because it includes revenues from the fitzpatrick reimbursement agreement with exelon , the amortization of the palisades below-market ppa , and vermont yankee capacity revenue .", "the effect of the amortization of the palisades below-market ppa and vermont yankee capacity revenue on the net revenue variance from 2015 to 2016 is minimal ; 2022 the sale of the rhode island state energy center in december 2015 .", "see note 14 to the financial statements for further discussion of the rhode island state energy center sale ; and 2022 lower volume in the entergy wholesale commodities nuclear fleet resulting from more refueling outage days in 2016 as compared to 2015 and larger exercise of resupply options in 2016 as compared to 2015 .", "see 201cnuclear ." ]

[ "entergy corporation and subsidiaries management 2019s financial discussion and analysis combination .", "consistent with the terms of the stipulated settlement in the business combination proceeding , electric customers of entergy louisiana will realize customer credits associated with the business combination ; accordingly , in october 2015 , entergy recorded a regulatory liability of $ 107 million ( $ 66 million net-of-tax ) .", "these costs are being amortized over a nine-year period beginning december 2015 .", "see note 2 to the financial statements for further discussion of the business combination and customer credits .", "the volume/weather variance is primarily due to the effect of more favorable weather during the unbilled period and an increase in industrial usage , partially offset by the effect of less favorable weather on residential sales .", "the increase in industrial usage is primarily due to expansion projects , primarily in the chemicals industry , and increased demand from new customers , primarily in the industrial gases industry .", "the louisiana act 55 financing savings obligation variance results from a regulatory charge for tax savings to be shared with customers per an agreement approved by the lpsc .", "the tax savings results from the 2010-2011 irs audit settlement on the treatment of the louisiana act 55 financing of storm costs for hurricane gustav and hurricane ike .", "see note 3 to the financial statements for additional discussion of the settlement and benefit sharing .", "included in other is a provision of $ 23 million recorded in 2016 related to the settlement of the waterford 3 replacement steam generator prudence review proceeding , offset by a provision of $ 32 million recorded in 2015 related to the uncertainty at that time associated with the resolution of the waterford 3 replacement steam generator prudence review proceeding .", "see note 2 to the financial statements for a discussion of the waterford 3 replacement steam generator prudence review proceeding .", "entergy wholesale commodities 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 $ 1666 ;", "the 2016 net revenue of amount ( in millions ) is $ 1542 ;" ]

[ [ "", "amount ( in millions )" ], [ "2015 net revenue", "$ 1666" ], [ "nuclear realized price changes", "-149 ( 149 )" ], [ "rhode island state energy center", "-44 ( 44 )" ], [ "nuclear volume", "-36 ( 36 )" ], [ "fitzpatrick reimbursement agreement", "41" ], [ "nuclear fuel expenses", "68" ], [ "other", "-4 ( 4 )" ], [ "2016 net revenue", "$ 1542" ] ]

[ "asset retirement obligations as of december 31 ( a ) $ 1102 $ 965 ( a ) includes asset retirement obligation of $ 3 and $ 2 million classified as short-term at december 31 , 2009 , and 2008. ." ]

[ "marathon oil corporation notes to consolidated financial statements ( g ) this obligation relates to a lease of equipment at united states steel 2019s clairton works cokemaking facility in pennsylvania .", "we are the primary obligor under this lease .", "under the financial matters agreement , united states steel has assumed responsibility for all obligations under this lease .", "this lease is an amortizing financing with a final maturity of 2012 .", "( h ) these notes are senior secured notes of marathon oil canada corporation .", "the notes are secured by substantially all of marathon oil canada corporation 2019s assets .", "in january 2008 , we provided a full and unconditional guarantee covering the payment of all principal and interest due under the senior notes .", "( i ) these obligations as of december 31 , 2009 include $ 36 million related to assets under construction at that date for which a capital lease will commence upon completion of construction .", "the amounts currently reported are based upon the percent of construction completed as of december 31 , 2009 and therefore do not reflect future minimum lease obligations of $ 164 million related to the asset .", "( j ) payments of long-term debt for the years 2010 - 2014 are $ 102 million , $ 246 million , $ 1492 million , $ 287 million and $ 802 million .", "united steel is due to pay $ 17 million in 2010 , $ 161 million in 2011 , $ 19 million in 2012 , and $ 11 for year 2014 .", "( k ) in the event of a change in control , as defined in the related agreements , debt obligations totaling $ 662 million at december 31 , 2009 , may be declared immediately due and payable .", "( l ) see note 16 for information on interest rate swaps .", "20 .", "asset retirement obligations the following summarizes the changes in asset retirement obligations : ( in millions ) 2009 2008 ." ]

[ "( in millions ) the asset retirement obligations as of december 31 ( a ) of 2009 is $ 1102 ; the asset retirement obligations as of december 31 ( a ) of 2008 is $ 965 ;" ]

[ [ "( in millions )", "2009", "2008" ], [ "asset retirement obligations as of january 1", "$ 965", "$ 1134" ], [ "liabilities incurred including acquisitions", "14", "30" ], [ "liabilities settled", "-65 ( 65 )", "-94 ( 94 )" ], [ "accretion expense ( included in depreciation depletion and amortization )", "64", "66" ], [ "revisions to previous estimates", "124", "24" ], [ "held for sale", "-", "-195 ( 195 )" ], [ "asset retirement obligations as of december 31 ( a )", "$ 1102", "$ 965" ] ]

[ "we currently estimate a pretax pension benefit of $ 26 million in 2008 compared with a pretax benefit of $ 30 million in ." ]

[ "recent accounting pronouncements see note 1 accounting policies in the notes to consolidated financial statements in item 8 of this report for additional information on the following recent accounting pronouncements that are relevant to our business , including a description of each new pronouncement , the required date of adoption , our planned date of adoption , and the expected impact on our consolidated financial statements .", "all of the following pronouncements were issued by the fasb unless otherwise noted .", "the following were issued in 2007 : 2022 sfas 141 ( r ) , 201cbusiness combinations 201d 2022 sfas 160 , 201caccounting and reporting of noncontrolling interests in consolidated financial statements , an amendment of arb no .", "51 201d 2022 in november 2007 , the sec issued staff accounting bulletin no .", "109 , 2022 in june 2007 , the aicpa issued statement of position 07-1 , 201cclarification of the scope of the audit and accounting guide 201cinvestment companies 201d and accounting by parent companies and equity method investors for investments in investment companies . 201d the fasb issued a final fsp in february 2008 which indefinitely delays the effective date of aicpa sop 07-1 .", "2022 fasb staff position no .", "( 201cfsp 201d ) fin 46 ( r ) 7 , 201capplication of fasb interpretation no .", "46 ( r ) to investment companies 201d 2022 fsp fin 48-1 , 201cdefinition of settlement in fasb interpretation ( 201cfin 201d ) no .", "48 201d 2022 sfas 159 , 201cthe fair value option for financial assets and financial liabilities 2013 including an amendment of fasb statement no .", "115 201d the following were issued during 2006 : 2022 sfas 158 , 201cemployers 2019 accounting for defined benefit pension and other postretirement benefit plans 2013 an amendment of fasb statements no .", "87 , 88 , 106 and 132 ( r ) 201d ( 201csfas 158 201d ) 2022 sfas 157 , 201cfair value measurements 201d 2022 fin 48 , 201caccounting for uncertainty in income taxes 2013 an interpretation of fasb statement no .", "109 201d 2022 fsp fas 13-2 , 201caccounting for a change or projected change in the timing of cash flows relating to income taxes generated by a leveraged lease transaction 201d 2022 sfas 156 , 201caccounting for servicing of financial assets 2013 an amendment of fasb statement no .", "140 201d 2022 sfas 155 , 201caccounting for certain hybrid financial instruments 2013 an amendment of fasb statements no .", "133 and 140 201d 2022 the emerging issues task force ( 201ceitf 201d ) of the fasb issued eitf issue 06-4 , 201caccounting for deferred compensation and postretirement benefit aspects of endorsement split-dollar life insurance arrangements 201d status of defined benefit pension plan we have a noncontributory , qualified defined benefit pension plan ( 201cplan 201d or 201cpension plan 201d ) covering eligible employees .", "benefits are derived from a cash balance formula based on compensation levels , age and length of service .", "pension contributions are based on an actuarially determined amount necessary to fund total benefits payable to plan participants .", "consistent with our investment strategy , plan assets are currently approximately 60% ( 60 % ) invested in equity investments with most of the remainder invested in fixed income instruments .", "plan fiduciaries determine and review the plan 2019s investment policy .", "we calculate the expense associated with the pension plan in accordance with sfas 87 , 201cemployers 2019 accounting for pensions , 201d and we use assumptions and methods that are compatible with the requirements of sfas 87 , including a policy of reflecting trust assets at their fair market value .", "on an annual basis , we review the actuarial assumptions related to the pension plan , including the discount rate , the rate of compensation increase and the expected return on plan assets .", "neither the discount rate nor the compensation increase assumptions significantly affects pension expense .", "the expected long-term return on assets assumption does significantly affect pension expense .", "the expected long-term return on plan assets for determining net periodic pension cost for 2007 was 8.25% ( 8.25 % ) , unchanged from 2006 .", "under current accounting rules , the difference between expected long-term returns and actual returns is accumulated and amortized to pension expense over future periods .", "each one percentage point difference in actual return compared with our expected return causes expense in subsequent years to change by up to $ 4 million as the impact is amortized into results of operations .", "the table below reflects the estimated effects on pension expense of certain changes in assumptions , using 2008 estimated expense as a baseline .", "change in assumption estimated increase to 2008 pension expense ( in millions ) ." ]

[ "change in assumption the .5% ( .5 % ) decrease in discount rate of estimatedincrease to 2008pensionexpense ( in millions ) is $ 1 ;", "change in assumption the .5% ( .5 % ) decrease in expected long-term return on assets of estimatedincrease to 2008pensionexpense ( in millions ) is $ 10 ;" ]

[ [ "change in assumption", "estimatedincrease to 2008pensionexpense ( in millions )" ], [ ".5% ( .5 % ) decrease in discount rate", "$ 1" ], [ ".5% ( .5 % ) decrease in expected long-term return on assets", "$ 10" ], [ ".5% ( .5 % ) increase in compensation rate", "$ 2" ] ]

[ "net operating loss carryforwards of foreign subsidiaries totaling $ 12.4 million and u.s .", "net operating loss carryforwards previously acquired totaling $ 19.8 million at may 31 , 2015 will expire between may 31 , 2017 and may 31 , 2033 if not utilized .", "capital loss carryforwards of u.s .", "subsidiaries totaling $ 4.7 million will expire if not utilized by may 31 , 2017 .", "tax credit carryforwards totaling $ 8.4 million at may 31 , 2015 will expire between may 31 , 2017 and may 31 , 2023 if not utilized .", "we conduct business globally and file income tax returns in the u.s .", "federal jurisdiction and various state and foreign jurisdictions .", "in the normal course of business , we are subject to examination by taxing authorities around the world .", "as a result of events that occurred in the fourth quarter of the year ended may 31 , 2015 , management concluded that it was more likely than not that the tax positions in a foreign jurisdiction , for which we had recorded estimated liabilities of $ 65.6 million in other noncurrent liabilities on our consolidated balance sheet , would be sustained on their technical merits based on information available as of may 31 , 2015 .", "therefore , the liability and corresponding deferred tax assets were eliminated as of may 31 , 2015 .", "the uncertain tax positions have been subject to an ongoing examination in that foreign jurisdiction by the tax authority .", "discussions and correspondence between the tax authority and us during the fourth quarter indicated that the likelihood of the positions being sustained had increased .", "subsequent to may 31 , 2015 , we received a final closure notice regarding the examination resulting in no adjustments to taxable income related to this matter for the tax returns filed for the periods ended may 31 , 2010 through may 31 , 2013 .", "the unrecognized tax benefits were effectively settled with this final closure notice .", "we are no longer subjected to state income tax examinations for years ended on or before may 31 , 2008 , u.s .", "federal income tax examinations for fiscal years prior to 2012 and united kingdom federal income tax examinations for years ended on or before may 31 , 2013 .", "78 2013 global payments inc .", "| 2015 form 10-k annual report ." ]

[ "undistributed earnings of $ 696.9 million from certain foreign subsidiaries are considered to be permanently reinvested abroad and will not be repatriated to the united states in the foreseeable future .", "because those earnings are considered to be indefinitely reinvested , no domestic federal or state deferred income taxes have been provided thereon .", "if we were to make a distribution of any portion of those earnings in the form of dividends or otherwise , we would be subject to both u.s .", "income taxes ( subject to an adjustment for foreign tax credits ) and withholding taxes payable to the various foreign jurisdictions .", "because of the availability of u.s .", "foreign tax credit carryforwards , it is not practicable to determine the domestic federal income tax liability that would be payable if such earnings were no longer considered to be reinvested indefinitely .", "a valuation allowance is provided against deferred tax assets when it is more likely than not that some portion or all of the deferred tax assets will not be realized .", "changes to our valuation allowance during the years ended may 31 , 2015 and 2014 are summarized below ( in thousands ) : ." ]

[ "changes to our valuation allowance during the years ended may 31 , 2015 and 2014 are summarized below ( in thousands ) : .", "balance at may 31 2013 the balance at may 31 2013 of $ -28464 ( 28464 ) is $ -28464 ( 28464 ) ;", "balance at may 31 2013 the balance at may 31 2015 of $ -28464 ( 28464 ) is $ -3823 ( 3823 ) ;" ]

[ [ "balance at may 31 2013", "$ -28464 ( 28464 )" ], [ "utilization of foreign net operating loss carryforwards", "2822" ], [ "allowance for foreign tax credit carryforward", "18061" ], [ "other", "382" ], [ "balance at may 31 2014", "-7199 ( 7199 )" ], [ "utilization of foreign net operating loss carryforwards", "3387" ], [ "other", "-11 ( 11 )" ], [ "balance at may 31 2015", "$ -3823 ( 3823 )" ] ]

[ "( 1 ) increase in valuation allowance related to the generation of tax nols and other deferred tax assets .", "( 2 ) decrease in valuation allowance associated with adjustments to certain deferred tax assets and their related allowance .", "( 3 ) represents dispositions/revisions/foreign exchange rate variances and the effect of statutory income tax rate changes .", "as of december 31 , 2017 , eog had state income tax nols being carried forward of approximately $ 1.7 billion , which , if unused , expire between 2018 and 2036 .", "during 2017 , eog's united kingdom subsidiary incurred a tax nol of approximately $ 72 million which , along with prior years' nols of $ 857 million , will be carried forward indefinitely .", "eog also has united states federal and canadian nols of $ 335 million and $ 158 million , respectively , with varying carryforward periods .", "eog's remaining amt credits total $ 798 million , resulting from amt paid with respect to prior years and an increase of $ 41 million in 2017 .", "as described above , these nols and credits , as well as other less significant future income tax benefits , have been evaluated for the likelihood of utilization , and valuation allowances have been established for the portion of these deferred income tax assets that t do not meet the \"more likely than not\" threshold .", "as further described above , significant changes were made by the tcja to the corporate amt that are favorable to eog , including the refunding of amt credit carryovers .", "due to these legislative changes , eog intends to settle certain uncertain tax positions related to amt credits for taxable years 2011 through 2015 , resulting in a decrease of uncertain tax positions of $ 40 million .", "the amount of unrecognized tax benefits at december 31 , 2017 , was $ 39 million , resulting from the tax treatment of its research and experimental expenditures related to certain innovations in its horizontal drilling and completion projects , which ish not expected to have an earnings impact .", "eog records interest and penalties related to unrecognized tax benefits to its income tax provision .", "eog does not anticipate that the amount of the unrecognized tax benefits will increase during the next twelve months .", "eog and its subsidiaries file income tax returns and are subject to tax audits in the united states and various state , local and foreign jurisdictions .", "eog's earliest open tax years in its principal jurisdictions are as follows : united states federal ( 2011 ) , canada ( 2014 ) , united kingdom ( 2016 ) , trinidad ( 2011 ) and china ( 2008 ) .", "eog's foreign subsidiaries' undistributed earnings are no longer considered to be permanently reinvested outside the u.s .", "and , accordingly , eog has cumulatively recorded $ 20 million of foreign and state deferred income taxes as of december 31 , 2017 .", "7 .", "employee benefit plans stock-based compensation during 2017 , eog maintained various stock-based compensation plans as discussed below .", "eog recognizes compensation expense on grants of stock options , sars , restricted stock and restricted stock units , performance units and grants made under the eog resources , inc .", "employee stock purchase plan ( espp ) .", "stock-based compensation expense is calculated based upon the grant date estimated fair value of the awards , net of forfeitures , based upon eog's historical employee turnover rate .", "compensation expense is amortized over the shorter of the vesting period or the period from date of grant until the date the employee becomes eligible to retire without company approval. ." ]

[ "the principal components of eog's rollforward of valuation allowances for deferred income tax assets were as follows ( in thousands ) : ." ]

[ "the beginning balance of 2017 is $ 383221 ; the beginning balance of 2016 is $ 506127 ; the beginning balance of 2015 is $ 463018 ;" ]

[ [ "", "2017", "2016", "2015" ], [ "beginning balance", "$ 383221", "$ 506127", "$ 463018" ], [ "increase ( 1 )", "67333", "37221", "146602" ], [ "decrease ( 2 )", "-13687 ( 13687 )", "-12667 ( 12667 )", "-4315 ( 4315 )" ], [ "other ( 3 )", "29554", "-147460 ( 147460 )", "-99178 ( 99178 )" ], [ "ending balance", "$ 466421", "$ 383221", "$ 506127" ] ]

[ "the increase in the valuation allowance related to net operating loss carryforwards of $ 10.3 million for the year ended december 31 , 2017 relates primarily to carryforward assets recorded as part of the acquisition of active network .", "the increase in the valuation allowance related to domestic net operating loss carryforwards of $ 1.5 million and $ 4.5 million for the 2016 fiscal transition period and the year ended may 31 , 2016 , respectively , relates to acquired carryforwards from the merger with heartland .", "foreign net operating loss carryforwards of $ 43.2 million and domestic net operating loss carryforwards of $ 28.9 million at december 31 , 2017 will expire between december 31 , 2026 and december 31 , 2037 if not utilized .", "we conduct business globally and file income tax returns in the domestic federal jurisdiction and various state and foreign jurisdictions .", "in the normal course of business , we are subject to examination by taxing authorities around the world .", "we are no longer subjected to state income tax examinations for years ended on or before may 31 , 2008 , u.s .", "federal income tax examinations for years ended on or before december 31 , 2013 and u.k .", "federal income tax examinations for years ended on or before may 31 , 2014 .", "88 2013 global payments inc .", "| 2017 form 10-k annual report ." ]

[ "a valuation allowance is provided against deferred tax assets when it is more likely than not that some portion or all of the deferred tax assets will not be realized .", "changes to our valuation allowance during the year ended december 31 , 2017 , the 2016 fiscal transition period and the years ended may 31 , 2016 and 2015 are summarized below ( in thousands ) : ." ]

[ "balance at may 31 2014 the balance at may 31 2015 of $ -7199 ( 7199 ) is -3823 ( 3823 ) ;" ]

[ [ "balance at may 31 2014", "$ -7199 ( 7199 )" ], [ "utilization of foreign net operating loss carryforwards", "3387" ], [ "other", "-11 ( 11 )" ], [ "balance at may 31 2015", "-3823 ( 3823 )" ], [ "allowance for foreign income tax credit carryforward", "-7140 ( 7140 )" ], [ "allowance for domestic net operating loss carryforwards", "-4474 ( 4474 )" ], [ "allowance for domestic net unrealized capital loss", "-1526 ( 1526 )" ], [ "release of allowance of domestic capital loss carryforward", "1746" ], [ "other", "98" ], [ "balance at may 31 2016", "-15119 ( 15119 )" ], [ "allowance for domestic net operating loss carryforwards", "-1504 ( 1504 )" ], [ "release of allowance of domestic net unrealized capital loss", "12" ], [ "balance at december 31 2016", "-16611 ( 16611 )" ], [ "allowance for foreign net operating loss carryforwards", "-6469 ( 6469 )" ], [ "allowance for domestic net operating loss carryforwards", "-3793 ( 3793 )" ], [ "allowance for state credit carryforwards", "-685 ( 685 )" ], [ "rate change on domestic net operating loss and capital loss carryforwards", "3868" ], [ "utilization of foreign income tax credit carryforward", "7140" ], [ "balance at december 31 2017", "$ -16550 ( 16550 )" ] ]

[ "( 1 ) includes $ 2 million purchase accounting adjustment to assumed debt .", "17 .", "benefit obligations pension obligations .", "pension obligations are established for benefits payable in the form of retirement , disability and surviving dependent pensions .", "the benefits offered vary according to the legal , fiscal and economic conditions of each country .", "the commitments result from participation in defined contribution and defined benefit plans , primarily in the u.s .", "benefits are dependent on years of service and the employee 2019s compensation .", "supplemental retirement benefits provided to certain employees are non-qualified for u.s .", "tax purposes .", "separate trusts have been established for some non-qualified plans .", "defined benefit pension plans exist at certain locations in north america and europe .", "as of december 31 , 2005 , the company 2019s u.s .", "qualified pension plan represented greater than 85% ( 85 % ) and 75% ( 75 % ) of celanese 2019s pension plan assets and liabilities , respectively .", "independent trusts or insurance companies administer the majority of these plans .", "actuarial valuations for these plans are prepared annually .", "the company sponsors various defined contribution plans in europe and north america covering certain employees .", "employees may contribute to these plans and the company will match these contributions in varying amounts .", "contributions to the defined contribution plans are based on specified percentages of employee contributions and they aggregated $ 12 million for the year ended decem- ber 31 , 2005 , $ 8 million for the nine months ended december 31 , 2004 , $ 3 million for the three months ended march 31 , 2004 and $ 11 million for the year ended december 31 , 2003 .", "in connection with the acquisition of cag , the purchaser agreed to pre-fund $ 463 million of certain pension obligations .", "during the nine months ended december 31 , 2004 , $ 409 million was pre-funded to the company 2019s pension plans .", "the company contributed an additional $ 54 million to the non-qualified pension plan 2019s rabbi trusts in february 2005 .", "in connection with the company 2019s acquisition of vinamul and acetex , the company assumed certain assets and obligations related to the acquired pension plans .", "the company recorded liabilities of $ 128 million for these pension plans .", "total pension assets acquired amounted to $ 85 million. ." ]

[ "celanese corporation and subsidiaries notes to consolidated financial statements ( continued ) 2022 amend certain material agreements governing bcp crystal 2019s indebtedness ; 2022 change the business conducted by celanese holdings and its subsidiaries ; and 2022 enter into hedging agreements that restrict dividends from subsidiaries .", "in addition , the senior credit facilities require bcp crystal to maintain the following financial covenants : a maximum total leverage ratio , a maximum bank debt leverage ratio , a minimum interest coverage ratio and maximum capital expenditures limitation .", "the maximum consolidated net bank debt to adjusted ebitda ratio , as defined , previously required under the senior credit facilities , was eliminated when the company amended the facilities in january 2005 .", "as of december 31 , 2005 , the company was in compliance with all of the financial covenants related to its debt agreements .", "the maturation of the company 2019s debt , including short term borrowings , is as follows : ( in $ millions ) ." ]

[ "the total of total ( in$ millions ) is 3437 ;", "the thereafter ( 1 ) of total ( in$ millions ) is 3163 ;" ]

[ [ "", "total ( in$ millions )" ], [ "2006", "155" ], [ "2007", "29" ], [ "2008", "22" ], [ "2009", "40" ], [ "2010", "28" ], [ "thereafter ( 1 )", "3163" ], [ "total", "3437" ] ]

[ "non-cash items ( 1 ) 287 1397 514 ( 1 ) includes depreciation , amortization , share-based compensation , deferred income taxes , and contract investment amortization .", "our ratio of current assets to current liabilities was 0.4 to 1.0 at year-end 2018 and 0.5 to 1.0 at year-end 2017 .", "we minimize working capital through cash management , strict credit-granting policies , and aggressive collection efforts .", "we also have significant borrowing capacity under our credit facility should we need additional working capital .", "investing activities cash flows acquisition of a business , net of cash acquired .", "cash outflows of $ 2392 million in 2016 were due to the starwood combination .", "see footnote 3 .", "dispositions and acquisitions for more information .", "capital expenditures and other investments .", "we made capital expenditures of $ 556 million in 2018 , $ 240 million in 2017 , and $ 199 million in 2016 .", "capital expenditures in 2018 increased by $ 316 million compared to 2017 , primarily reflecting the acquisition of the sheraton grand phoenix , improvements to our worldwide systems , and net higher spending on several owned properties .", "capital expenditures in 2017 increased by $ 41 million compared to 2016 , primarily due to improvements to our worldwide systems and improvements to hotels acquired in the starwood combination .", "we expect spending on capital expenditures and other investments will total approximately $ 500 million to $ 700 million for 2019 , including acquisitions , loan advances , equity and other investments , contract acquisition costs , and various capital expenditures ( including approximately $ 225 million for maintenance capital spending ) .", "over time , we have sold lodging properties , both completed and under development , subject to long-term management agreements .", "the ability of third-party purchasers to raise the debt and equity capital necessary to acquire such properties depends in part on the perceived risks in the lodging industry and other constraints inherent in the capital markets .", "we monitor the status of the capital markets and regularly evaluate the potential impact of changes in capital market conditions on our business operations .", "in the starwood combination , we acquired various hotels and joint venture interests in hotels , most of which we have sold or are seeking to sell , and in 2018 , we acquired the sheraton grand phoenix , which we expect to renovate and sell subject to a long-term management agreement .", "we also expect to continue making selective and opportunistic investments to add units to our lodging business , which may include property acquisitions , new construction , loans , guarantees , and noncontrolling equity investments .", "over time , we seek to minimize capital invested in our business through asset sales subject to long term operating or franchise agreements .", "fluctuations in the values of hotel real estate generally have little impact on our overall business results because : ( 1 ) we own less than one percent of hotels that we operate or franchise ; ( 2 ) management and franchise fees are generally based upon hotel revenues and profits rather than current hotel property values ; and ( 3 ) our management agreements generally do not terminate upon hotel sale or foreclosure .", "dispositions .", "property and asset sales generated $ 479 million cash proceeds in 2018 and $ 1418 million in 2017 .", "see footnote 3 .", "dispositions and acquisitions for more information on dispositions. ." ]

[ "we monitor the status of the capital markets and regularly evaluate the effect that changes in capital market conditions may have on our ability to execute our announced growth plans and fund our liquidity needs .", "we expect to continue meeting part of our financing and liquidity needs primarily through commercial paper borrowings , issuances of senior notes , and access to long-term committed credit facilities .", "if conditions in the lodging industry deteriorate , or if disruptions in the capital markets take place as they did in the immediate aftermath of both the 2008 worldwide financial crisis and the events of september 11 , 2001 , we may be unable to place some or all of our commercial paper on a temporary or extended basis and may have to rely more on borrowings under the credit facility , which we believe will be adequate to fund our liquidity needs , including repayment of debt obligations , but which may carry a higher cost than commercial paper .", "since we continue to have ample flexibility under the credit facility 2019s covenants , we expect that undrawn bank commitments under the credit facility will remain available to us even if business conditions were to deteriorate markedly .", "cash from operations cash from operations and non-cash items for the last three fiscal years are as follows: ." ]

[ "( $ in millions ) the cash from operations of 2018 is $ 2357 ; the cash from operations of 2017 is $ 2227 ; the cash from operations of 2016 is $ 1619 ;", "( $ in millions ) the non-cash items ( 1 ) of 2018 is 287 ; the non-cash items ( 1 ) of 2017 is 1397 ; the non-cash items ( 1 ) of 2016 is 514 ;" ]

[ [ "( $ in millions )", "2018", "2017", "2016" ], [ "cash from operations", "$ 2357", "$ 2227", "$ 1619" ], [ "non-cash items ( 1 )", "287", "1397", "514" ] ]

[ "220 central park south , new york city we own a 90% ( 90 % ) interest in 220 central park south .", "the property contains 122 rental apartments with an aggregate of 133000 square feet and 5700 square feet of commercial space .", "on november 7 , 2006 , we completed a $ 130000000 refinancing of the property .", "the loan has two tranches : the first tranche of $ 95000000 bears interest at libor ( capped at 5.50% ( 5.50 % ) ) plus 2.35% ( 2.35 % ) ( 7.70% ( 7.70 % ) as of december 31 , 2006 ) and the second tranche can be drawn up to $ 35000000 and bears interest at libor ( capped at 5.50% ( 5.50 % ) ) plus 2.45% ( 2.45 % ) ( 7.80% ( 7.80 % ) as of december 31 , 2006 ) .", "as of december 31 , 2006 , approximately $ 27990000 has been drawn on the second tranche .", "40 east 66th street , new york city 40 east 66th street , located at madison avenue and east 66th street , contains 37 rental apartments with an aggregate of 85000 square feet , and 10000 square feet of retail space .", "the rental apartment operations are included in our other segment and the retail operations are included in the retail segment. ." ]

[ "properties 51vornado realty trust industrial properties our dry warehouse/industrial properties consist of seven buildings in new jersey containing approximately 1.5 million square feet .", "the properties are encumbered by two cross-collateralized mortgage loans aggregating $ 47179000 as of december 31 , 2006 .", "average lease terms range from three to five years .", "the following table sets forth the occupancy rate and average annual rent per square foot at the end of each of the past five years .", "average annual occupancy rent per as of december 31 , rate square foot ." ]

[ "as of december 31 , the 2005 of occupancy rate is 100.0% ( 100.0 % ) ; the 2005 of average annual rent per square foot is 4.19 ;", "as of december 31 , the 2004 of occupancy rate is 88.0% ( 88.0 % ) ; the 2004 of average annual rent per square foot is 3.96 ;" ]

[ [ "as of december 31,", "occupancy rate", "average annual rent per square foot" ], [ "2006", "96.9% ( 96.9 % )", "$ 4.17" ], [ "2005", "100.0% ( 100.0 % )", "4.19" ], [ "2004", "88.0% ( 88.0 % )", "3.96" ], [ "2003", "88.0% ( 88.0 % )", "3.86" ], [ "2002", "100.0% ( 100.0 % )", "3.89" ] ]

[ "oil and gas prices we expect our 2011 average prices for the oil and gas production from each of our operating areas to differ from the nymex price as set forth in the following table .", "the expected ranges for prices are exclusive of the anticipated effects of the financial contracts presented in the 201ccommodity price risk management 201d section below .", "the nymex price for oil is determined using the monthly average of settled prices on each trading day for benchmark west texas intermediate crude oil delivered at cushing , oklahoma .", "the nymex price for gas is determined using the first-of-month south louisiana henry hub price index as published monthly in inside ." ]

[ "likely than not that some portion or all of the deferred tax assets will not be realized .", "the accruals for deferred tax assets and liabilities are subject to a significant amount of judgment by management and are reviewed and adjusted routinely based on changes in facts and circumstances .", "material changes in these accruals may occur in the future , based on the progress of ongoing tax audits , changes in legislation and resolution of pending tax matters .", "forward-looking estimates we are providing our 2011 forward-looking estimates in this section .", "these estimates were based on our examination of historical operating trends , the information used to prepare our december 31 , 2010 , reserve reports and other data in our possession or available from third parties .", "the forward-looking estimates in this report were prepared assuming demand , curtailment , producibility and general market conditions for our oil , gas and ngls during 2011 will be similar to 2010 , unless otherwise noted .", "we make reference to the 201cdisclosure regarding forward-looking statements 201d at the beginning of this report .", "amounts related to our canadian operations have been converted to u.s .", "dollars using an estimated average 2011 exchange rate of $ 0.95 dollar to $ 1.00 canadian dollar .", "during 2011 , our operations are substantially comprised of our ongoing north america onshore operations .", "we also have international operations in brazil and angola that we are divesting .", "we have entered into agreements to sell our assets in brazil for $ 3.2 billion and our assets in angola for $ 70 million , plus contingent consideration .", "as a result of these divestitures , all revenues , expenses and capital related to our international operations are reported as discontinued operations in our financial statements .", "additionally , all forward-looking estimates in this document exclude amounts related to our international operations , unless otherwise noted .", "north america onshore operating items the following 2011 estimates relate only to our north america onshore assets .", "oil , gas and ngl production set forth below are our estimates of oil , gas and ngl production for 2011 .", "we estimate that our combined oil , gas and ngl production will total approximately 236 to 240 mmboe .", "( mmbbls ) ( mmbbls ) ( mmboe ) ." ]

[ "the u.s . onshore of oil ( mmbbls ) is 17 ; the u.s . onshore of gas ( bcf ) is 736 ; the u.s . onshore of ngls ( mmbbls ) is 34 ; the u.s . onshore of total ( mmboe ) is 174 ;", "the canada of oil ( mmbbls ) is 28 ; the canada of gas ( bcf ) is 199 ; the canada of ngls ( mmbbls ) is 3 ; the canada of total ( mmboe ) is 64 ;", "the north america onshore of oil ( mmbbls ) is 45 ; the north america onshore of gas ( bcf ) is 935 ; the north america onshore of ngls ( mmbbls ) is 37 ; the north america onshore of total ( mmboe ) is 238 ;", "dollars using an estimated average 2011 exchange rate of $ 0.95 dollar to $ 1.00 canadian dollar ." ]

[ [ "", "oil ( mmbbls )", "gas ( bcf )", "ngls ( mmbbls )", "total ( mmboe )" ], [ "u.s . onshore", "17", "736", "34", "174" ], [ "canada", "28", "199", "3", "64" ], [ "north america onshore", "45", "935", "37", "238" ] ]

[ "environmental costs the company 2019s water and wastewater operations are subject to u.s .", "federal , state , local and foreign requirements relating to environmental protection , and as such , the company periodically becomes subject to environmental claims in the normal course of business .", "environmental expenditures that relate to current operations or provide a future benefit are expensed or capitalized as appropriate .", "remediation costs that relate to an existing condition caused by past operations are accrued , on an undiscounted basis , when it is probable that these costs will be incurred and can be reasonably estimated .", "remediation costs accrued amounted to $ 1 and $ 2 as of december 31 , 2015 and 2014 , respectively .", "the accrual relates entirely to a conservation agreement entered into by a subsidiary of the company with the national oceanic and atmospheric administration ( 201cnoaa 201d ) requiring the company to , among other provisions , implement certain measures to protect the steelhead trout and its habitat in the carmel river watershed in the state of california .", "the company has agreed to pay $ 1 annually from 2010 to 2016 .", "the company 2019s inception-to-date costs related to the noaa agreement were recorded in regulatory assets in the accompanying consolidated balance sheets as of december 31 , 2015 and 2014 and are expected to be fully recovered from customers in future rates .", "derivative financial instruments the company uses derivative financial instruments for purposes of hedging exposures to fluctuations in interest rates .", "these derivative contracts are entered into for periods consistent with the related underlying exposures and do not constitute positions independent of those exposures .", "the company does not enter into derivative contracts for speculative purposes and does not use leveraged instruments .", "all derivatives are recognized on the balance sheet at fair value .", "on the date the derivative contract is entered into , the company may designate the derivative as a hedge of the fair value of a recognized asset or liability ( fair-value hedge ) or a hedge of a forecasted transaction or of the variability of cash flows to be received or paid related to a recognized asset or liability ( cash-flow hedge ) .", "changes in the fair value of a fair-value hedge , along with the gain or loss on the underlying hedged item , are recorded in current-period earnings .", "the effective portion of gains and losses on cash-flow hedges are recorded in other comprehensive income , until earnings are affected by the variability of cash flows .", "any ineffective portion of designated hedges is recognized in current-period earnings .", "cash flows from derivative contracts are included in net cash provided by operating activities in the accompanying consolidated statements of cash flows. ." ]

[ "the company recognizes accrued interest and penalties related to tax positions as a component of income tax expense and accounts for sales tax collected from customers and remitted to taxing authorities on a net basis .", "allowance for funds used during construction afudc is a non-cash credit to income with a corresponding charge to utility plant that represents the cost of borrowed funds or a return on equity funds devoted to plant under construction .", "the regulated utility subsidiaries record afudc to the extent permitted by the pucs .", "the portion of afudc attributable to borrowed funds is shown as a reduction of interest , net in the accompanying consolidated statements of operations .", "any portion of afudc attributable to equity funds would be included in other income ( expenses ) in the accompanying consolidated statements of operations .", "afudc is summarized in the following table for the years ended december 31: ." ]

[ "the allowance for borrowed funds used during construction of 2015 is 8 ; the allowance for borrowed funds used during construction of 2014 is 6 ; the allowance for borrowed funds used during construction of 2013 is 6 ;", "the allowance for other funds used during construction of 2015 is $ 13 ; the allowance for other funds used during construction of 2014 is $ 9 ; the allowance for other funds used during construction of 2013 is $ 13 ;" ]

[ [ "", "2015", "2014", "2013" ], [ "allowance for other funds used during construction", "$ 13", "$ 9", "$ 13" ], [ "allowance for borrowed funds used during construction", "8", "6", "6" ] ]

[ "weighted average common shares outstanding and dilutive potential common shares ( diluted ) 306.7 319.1 315.9 ." ]

[ "table of contents the company receives a foreign tax credit ( 201cftc 201d ) against its u.s .", "tax liability for foreign taxes paid by the company including payments from its separate account assets .", "the separate account ftc is estimated for the current year using information from the most recent filed return , adjusted for the change in the allocation of separate account investments to the international equity markets during the current year .", "the actual current year ftc can vary from the estimates due to actual ftcs passed through by the mutual funds .", "the company recorded benefits of $ 16 , $ 11 and $ 17 related to separate account ftc in the years ended december 31 , 2008 , december 31 , 2007 and december 31 , 2006 , respectively .", "these amounts included benefits related to true- ups of prior years 2019 tax returns of $ 4 , $ 0 and $ 7 in 2008 , 2007 and 2006 respectively .", "the company 2019s unrecognized tax benefits increased by $ 15 during 2008 as a result of tax positions taken on the company 2019s 2007 tax return and expected to be taken on its 2008 tax return , bringing the total unrecognized tax benefits to $ 91 as of december 31 , 2008 .", "this entire amount , if it were recognized , would affect the effective tax rate .", "earnings ( losses ) per common share the following table represents earnings per common share data for the past three years : for additional information on earnings ( losses ) per common share see note 2 of notes to consolidated financial statements .", "outlooks the hartford provides projections and other forward-looking information in the 201coutlook 201d sections within md&a .", "the 201coutlook 201d sections contain many forward-looking statements , particularly relating to the company 2019s future financial performance .", "these forward-looking statements are estimates based on information currently available to the company , are made pursuant to the safe harbor provisions of the private securities litigation reform act of 1995 and are subject to the precautionary statements set forth in the introduction to md&a above .", "actual results are likely to differ , and in the past have differed , materially from those forecast by the company , depending on the outcome of various factors , including , but not limited to , those set forth in each 201coutlook 201d section and in item 1a , risk factors .", "outlook during 2008 , the company has been negatively impacted by conditions in the global financial markets and economic conditions in general .", "as these conditions persist in 2009 , the company would anticipate that it would continue to be negatively impacted , including the effect of rating downgrades that have occurred and those that could occur in the future .", "see risk factors in item 1a .", "retail in the long-term , management continues to believe the market for retirement products will expand as individuals increasingly save and plan for retirement .", "demographic trends suggest that as the 201cbaby boom 201d generation matures , a significant portion of the united states population will allocate a greater percentage of their disposable incomes to saving for their retirement years due to uncertainty surrounding the social security system and increases in average life expectancy .", "near-term , the industry and the company are experiencing lower variable annuity sales as a result of recent market turbulence and uncertainty in the u.s .", "financial system .", "current market pressures are also increasing the expected claim costs , the cost and volatility of hedging programs , and the level of capital needed to support living benefit guarantees .", "some companies have already begun to increase the price of their guaranteed living benefits and change the level of guarantees offered .", "in 2009 , the company intends to adjust pricing levels and take certain actions to reduce the risks in its variable annuity product features in order to address the risks and costs associated with variable annuity benefit features in the current economic environment and explore other risk limiting techniques such as increased hedging or other reinsurance structures .", "competitor reaction , including the extent of competitor risk limiting strategies , is difficult to predict and may result in a decline in retail 2019s market share .", "significant declines in equity markets and increased equity market volatility are also likely to continue to impact the cost and effectiveness of our gmwb hedging program .", "continued equity market volatility could result in material losses in our hedging program .", "for more information on the gmwb hedging program , see the equity risk management section within capital markets risk management .", "during periods of volatile equity markets , policyholders may allocate more of their variable account assets to the fixed account options and fixed annuities may see increased deposits .", "in the fourth quarter of 2008 , the company has seen an increase in fixed ." ]

[ "the basic earnings ( losses ) per share of 2008 is $ -8.99 ( 8.99 ) ; the basic earnings ( losses ) per share of 2007 is $ 9.32 ; the basic earnings ( losses ) per share of 2006 is $ 8.89 ;", "the weighted average common shares outstanding and dilutive potential common shares ( diluted ) of 2008 is 306.7 ; the weighted average common shares outstanding and dilutive potential common shares ( diluted ) of 2007 is 319.1 ; the weighted average common shares outstanding and dilutive potential common shares ( diluted ) of 2006 is 315.9 ;", "actual results are likely to differ , and in the past have differed , materially from those forecast by the company , depending on the outcome of various factors , including , but not limited to , those set forth in each 201coutlook 201d section and in item 1a , risk factors ." ]

[ [ "", "2008", "2007", "2006" ], [ "basic earnings ( losses ) per share", "$ -8.99 ( 8.99 )", "$ 9.32", "$ 8.89" ], [ "diluted earnings ( losses ) per share", "$ -8.99 ( 8.99 )", "$ 9.24", "$ 8.69" ], [ "weighted average common shares outstanding ( basic )", "306.7", "316.3", "308.8" ], [ "weighted average common shares outstanding and dilutive potential common shares ( diluted )", "306.7", "319.1", "315.9" ] ]

[ "we currently own our four containerboard mills and 44 of our corrugated manufacturing operations ( 37 corrugated plants and seven sheet plants ) .", "we also own one warehouse and miscellaneous other property , which includes sales offices and woodlands management offices .", "these sales offices and woodlands management offices generally have one to four employees and serve as administrative offices .", "pca leases the space for four corrugated plants , 23 sheet plants , six regional design centers , and numerous other distribution centers , warehouses and facilities .", "the equipment in these leased facilities is , in virtually all cases , owned by pca , except for forklifts and other rolling stock which are generally leased .", "we lease the cutting rights to approximately 88000 acres of timberland located near our valdosta mill ( 77000 acres ) and our counce mill ( 11000 acres ) .", "on average , these cutting rights agreements have terms with approximately 12 years remaining .", "our corporate headquarters is located in lake forest , illinois .", "the headquarters facility is leased for the next ten years with provisions for two additional five year lease extensions .", "item 3 .", "legal proceedings during september and october 2010 , pca and eight other u.s .", "and canadian containerboard producers were named as defendants in five purported class action lawsuits filed in the united states district court for the northern district of illinois , alleging violations of the sherman act .", "the lawsuits have been consolidated in a single complaint under the caption kleen products llc v packaging corp .", "of america et al .", "the consolidated complaint alleges that the defendants conspired to limit the supply of containerboard , and that the purpose and effect of the alleged conspiracy was to artificially increase prices of containerboard products during the period from august 2005 to the time of filing of the complaints .", "the complaint was filed as a purported class action suit on behalf of all purchasers of containerboard products during such period .", "the complaint seeks treble damages and costs , including attorney 2019s fees .", "the defendants 2019 motions to dismiss the complaint were denied by the court in april 2011 .", "pca believes the allegations are without merit and will defend this lawsuit vigorously .", "however , as the lawsuit is in the early stages of discovery , pca is unable to predict the ultimate outcome or estimate a range of reasonably possible losses .", "pca is a party to various other legal actions arising in the ordinary course of our business .", "these legal actions cover a broad variety of claims spanning our entire business .", "as of the date of this filing , we believe it is not reasonably possible that the resolution of these legal actions will , individually or in the aggregate , have a material adverse effect on our financial condition , results of operations or cash flows. ." ]

[ "item 1b .", "unresolved staff comments item 2 .", "properties the table below provides a summary of our containerboard mills , the principal products produced and each mill 2019s year-end 2011 annual practical maximum capacity based upon all of our paper machines 2019 production capabilities , as reported to the af&pa : location function capacity ( tons ) counce , tn .", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", "kraft linerboard mill 1043000 valdosta , ga .", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", "kraft linerboard mill 556000 tomahawk , wi .", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", "semi-chemical medium mill 538000 filer city , mi .", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", "semi-chemical medium mill 438000 ." ]

[ ".", "we currently own our four containerboard mills and 44 of our corrugated manufacturing operations ( 37 corrugated plants and seven sheet plants ) ." ]

[ [ "location", "function kraft linerboard mill kraft linerboard mill semi-chemical medium mill semi-chemical medium mill", "capacity ( tons ) 1043000 556000 538000 438000" ], [ "counce tn", "valdosta ga", "tomahawk wi" ], [ "filer city mi", "filer city mi", "filer city mi" ], [ "total", "", "2575000" ] ]

[ "( 1 ) in addition to purchases under the 2006 stock repurchase program ( as defined below ) , included in this column are transactions under the company's equity compensation plans involving the delivery to the company of 8445 shares of motorola common stock to satisfy tax withholding obligations in connection with the vesting of restricted stock granted to company employees and the surrender of 1267 shares of motorola common stock to pay the option exercise price in connection with the exercise of employee stock options .", "( 2 ) average price paid per share of stock repurchased under the 2006 stock repurchase program is execution price , excluding commissions paid to brokers .", "( 3 ) on may 18 , 2005 , the company announced that its board of directors authorized the company to repurchase up to $ 4 billion of its outstanding shares of common stock over a period of up to 36 months ending in may 2008 , subject to market conditions ( the \"\"2005 stock repurchase program'' ) .", "on july 24 , 2006 , the company announced that it entered into an agreement to repurchase approximately $ 1.2 billion of its outstanding shares of common stock .", "this repurchase , which was accomplished through an accelerated stock buyback ( \"\"asb'' ) agreement , together with all repurchases made prior to the date thereof , completed the repurchases authorized under the 2005 stock repurchase program .", "under the asb the company immediately paid $ 1.2 billion and received an initial 37.9 million shares in july followed by an additional 11.3 million shares in august .", "in october , the company received an additional 1.3 million shares , as the final adjustment under the asb .", "the total shares repurchased under the asb were 50.5 million .", "( 4 ) the 1.3 million shares delivered under the asb that were delivered in october , but paid for in july , have not been reflected in october purchases .", "( 5 ) the company also announced on july 24 , 2006 that its board of directors authorized the company to repurchase up to an additional $ 4.5 billion of its outstanding shares of common stock over a period of up to 36 months ending in june 2009 , subject to market conditions ( the \"\"2006 stock repurchase program'' ) .", "%%transmsg*** transmitting job : c11830 pcn : 033000000 *** %%pcmsg| |00024|yes|no|02/28/2007 03:55|0|1|page is valid , no graphics -- color : n| ." ]

[ "part ii item 5 : market for registrant's common equity , related stockholder matters and issuer purchases of equity securities motorola's common stock is listed on the new york and chicago stock exchanges .", "the number of stockholders of record of motorola common stock on january 31 , 2007 was 75892 .", "the remainder of the response to this item incorporates by reference note 16 , \"\"quarterly and other financial data ( unaudited ) '' of the notes to consolidated financial statements appearing under \"\"item 8 : financial statements and supplementary data'' .", "the following table provides information with respect to acquisitions by the company of shares of its common stock during the quarter ended december 31 , 2006 .", "issuer purchases of equity securities ( d ) maximum number ( c ) total number ( or approximate dollar of shares purchased value ) of shares that ( a ) total number ( b ) average price as part of publicly may yet be purchased of shares paid per announced plans under the plans or period purchased ( 1 ) ( 4 ) share ( 1 ) ( 2 ) or programs ( 3 ) ( 4 ) programs ( 5 ) ." ]

[ "period the 11/26/06 to 12/31/06 of ( a ) total number of shares purchased ( 1 ) ( 4 ) is 16430030 ; the 11/26/06 to 12/31/06 of ( b ) average price paid per share ( 1 ) ( 2 ) is $ 21.29 ; the 11/26/06 to 12/31/06 of ( c ) total number of shares purchased as part of publicly announced plans or programs ( 3 ) ( 4 ) is 16425602 ; the 11/26/06 to 12/31/06 of ( d ) maximum number ( or approximate dollar value ) of shares that may yet be purchased under the plans or programs ( 5 ) is $ 3800689819 ;", "period the total of ( a ) total number of shares purchased ( 1 ) ( 4 ) is 32048472 ; the total of ( b ) average price paid per share ( 1 ) ( 2 ) is $ 21.83 ; the total of ( c ) total number of shares purchased as part of publicly announced plans or programs ( 3 ) ( 4 ) is 32038760 ; the total of ( d ) maximum number ( or approximate dollar value ) of shares that may yet be purchased under the plans or programs ( 5 ) is ;" ]

[ [ "period", "( a ) total number of shares purchased ( 1 ) ( 4 )", "( b ) average price paid per share ( 1 ) ( 2 )", "( c ) total number of shares purchased as part of publicly announced plans or programs ( 3 ) ( 4 )", "( d ) maximum number ( or approximate dollar value ) of shares that may yet be purchased under the plans or programs ( 5 )" ], [ "10/1/06 to 10/28/06", "5284", "$ 25.82", "0", "$ 4500000000" ], [ "10/29/06 to 11/25/06", "15613158", "$ 22.39", "15613158", "$ 4150401669" ], [ "11/26/06 to 12/31/06", "16430030", "$ 21.29", "16425602", "$ 3800689819" ], [ "total", "32048472", "$ 21.83", "32038760", "" ] ]

[ "overall , company net sales increased $ 98 million to $ 11.5 billion in fiscal 2006 , primarily reflecting favorable results in the food and ingredients and international foods segments .", "price increases driven by higher input costs for potatoes , wheat milling and dehydrated vegetables within the food and ingredients segment , coupled with the strength of foreign currencies within the international foods segment enhanced net sales .", "these increases were partially offset by volume declines in the consumer foods segment , principally related to certain shelf stable brands and declines in the trading and merchandising segment related to decreased volumes and certain divestitures and closures. ." ]

[ "years 2002 , 2003 , 2004 , and the first two quarters of fiscal 2005 .", "the restatement related to tax matters .", "the company provided information to the sec staff relating to the facts and circumstances surrounding the restatement .", "on july 28 , 2006 , the company filed an amendment to its annual report on form 10-k for the fiscal year ended may 29 , 2005 .", "the filing amended item 6 .", "selected financial data and exhibit 12 , computation of ratios of earnings to fixed charges , for fiscal year 2001 , and certain restated financial information for fiscal years 1999 and 2000 , all related to the application of certain of the company 2019s reserves for the three years and fiscal year 1999 income tax expense .", "the company provided information to the sec staff relating to the facts and circumstances surrounding the amended filing .", "the company reached an agreement with the sec staff concerning matters associated with these amended filings .", "that proposed settlement was approved by the securities and exchange commission on july 17 , 2007 .", "on july 24 , 2007 , the sec filed its complaint against the company in the united states district court for the district of colorado , followed by an executed consent , which without the company admitting or denying the allegations of the complaint , reflects the terms of the settlement , including payment by the company of a civil penalty of $ 45 million and the company 2019s agreement to be permanently enjoined from violating certain provisions of the federal securities laws .", "additionally , the company made approximately $ 2 million in indemnity payments on behalf of former employees concluding separate settlements with the sec .", "the company recorded charges of $ 25 million in fiscal 2004 , $ 21.5 million in the third quarter of fiscal 2005 , and $ 1.2 million in the first quarter of fiscal 2007 in connection with the expected settlement of these matters .", "three purported class actions were filed in united states district court for nebraska , rantala v .", "conagra foods , inc. , et .", "al. , case no .", "805cv349 , and bright v .", "conagra foods , inc. , et .", "al. , case no .", "805cv348 on july 18 , 2005 , and boyd v .", "conagra foods , inc. , et .", "al. , case no .", "805cv386 on august 8 , 2005 .", "the lawsuits are against the company , its directors and its employee benefits committee on behalf of participants in the company 2019s employee retirement income savings plans .", "the lawsuits allege violations of the employee retirement income security act ( erisa ) in connection with the events resulting in the company 2019s april 2005 restatement of its financial statements and related matters .", "the company has reached a settlement with the plaintiffs in these actions subject to court approval .", "the settlement includes a $ 4 million payment , most of which will be paid by an insurer .", "the company has also agreed to make certain prospective changes to its benefit plans as part of the settlement .", "2006 vs .", "2005 net sales ( $ in millions ) reporting segment fiscal 2006 net sales fiscal 2005 net sales % ( % ) increase/ ( decrease ) ." ]

[ "reporting segment the food and ingredients of fiscal 2006 net sales is 3189 ; the food and ingredients of fiscal 2005 net sales is 2986 ; the food and ingredients of % ( % ) increase/ ( decrease ) is 7% ( 7 % ) ;", "reporting segment the total of fiscal 2006 net sales is $ 11482 ; the total of fiscal 2005 net sales is $ 11384 ; the total of % ( % ) increase/ ( decrease ) is 1% ( 1 % ) ;" ]

[ [ "reporting segment", "fiscal 2006 net sales", "fiscal 2005 net sales", "% ( % ) increase/ ( decrease )" ], [ "consumer foods", "$ 6504", "$ 6598", "( 1 ) % ( % )" ], [ "food and ingredients", "3189", "2986", "7% ( 7 % )" ], [ "trading and merchandising", "1186", "1224", "( 3 ) % ( % )" ], [ "international foods", "603", "576", "5% ( 5 % )" ], [ "total", "$ 11482", "$ 11384", "1% ( 1 % )" ] ]

[ "compensation expense related to stock options , stock appreciation rights , restricted stock awards , deferred stock awards and performance awards , which we record as a component of salaries and employee benefits expense in our consolidated statement of income , was $ 208 million , $ 110 million and $ 74 million for the years ended december 31 , 2006 , 2005 and 2004 , respectively .", "the related total income tax benefit recorded in our consolidated statement of income was $ 83 million , $ 44 million and $ 30 million for 2006 , 2005 and 2004 , respectively .", "seq 87 copyarea : 38 .", "x 54 .", "trimsize : 8.25 x 10.75 typeset state street corporation serverprocess c:\\\\fc\\\\delivery_1024177\\\\2771-1-do_p.pdf chksum : 0 cycle 1merrill corporation 07-2771-1 thu mar 01 17:11:13 2007 ( v 2.247w--stp1pae18 ) ." ]

[ "for the year ended december 31 , 2005 , we realized net losses of $ 1 million on sales of available-for- sale securities .", "unrealized gains of $ 1 million were included in other comprehensive income at december 31 , 2004 , net of deferred taxes of less than $ 1 million , related to these sales .", "for the year ended december 31 , 2004 , we realized net gains of $ 26 million on sales of available-for- sale securities .", "unrealized gains of $ 11 million were included in other comprehensive income at december 31 , 2003 , net of deferred taxes of $ 7 million , related to these sales .", "note 13 .", "equity-based compensation the 2006 equity incentive plan was approved by shareholders in april 2006 , and 20000000 shares of common stock were approved for issuance for stock and stock-based awards , including stock options , stock appreciation rights , restricted stock , deferred stock and performance awards .", "in addition , up to 8000000 shares from our 1997 equity incentive plan , that were available to issue or become available due to cancellations and forfeitures , may be awarded under the 2006 plan .", "the 1997 plan expired on december 18 , 2006 .", "as of december 31 , 2006 , 1305420 shares from the 1997 plan have been added to and may be awarded from the 2006 plan .", "as of december 31 , 2006 , 106045 awards have been made under the 2006 plan .", "we have stock options outstanding from previous plans , including the 1997 plan , under which no further grants can be made .", "the exercise price of non-qualified and incentive stock options and stock appreciation rights may not be less than the fair value of such shares at the date of grant .", "stock options and stock appreciation rights issued under the 2006 plan and the prior 1997 plan generally vest over four years and expire no later than ten years from the date of grant .", "for restricted stock awards issued under the 2006 plan and the prior 1997 plan , stock certificates are issued at the time of grant and recipients have dividend and voting rights .", "in general , these grants vest over three years .", "for deferred stock awards issued under the 2006 plan and the prior 1997 plan , no stock is issued at the time of grant .", "generally , these grants vest over two- , three- or four-year periods .", "performance awards granted under the 2006 equity incentive plan and the prior 1997 plan are earned over a performance period based on achievement of goals , generally over two- to three- year periods .", "payment for performance awards is made in shares of our common stock or in cash equal to the fair market value of our common stock , based on certain financial ratios after the conclusion of each performance period .", "we record compensation expense , equal to the estimated fair value of the options on the grant date , on a straight-line basis over the options 2019 vesting period .", "we use a black-scholes option-pricing model to estimate the fair value of the options granted .", "the weighted-average assumptions used in connection with the option-pricing model were as follows for the years indicated. ." ]

[ "the risk-free interest rate of 2006 is 4.60 ; the risk-free interest rate of 2005 is 4.19 ; the risk-free interest rate of 2004 is 3.02 ;", "as of december 31 , 2006 , 1305420 shares from the 1997 plan have been added to and may be awarded from the 2006 plan ." ]

[ [ "", "2006", "2005", "2004" ], [ "dividend yield", "1.41% ( 1.41 % )", "1.85% ( 1.85 % )", "1.35% ( 1.35 % )" ], [ "expected volatility", "26.50", "28.70", "27.10" ], [ "risk-free interest rate", "4.60", "4.19", "3.02" ], [ "expected option lives ( in years )", "7.8", "7.8", "5.0" ] ]

[ "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 ) : ." ]

[ "years ended december 31 , the total of federal is $ 1197607 ; the total of state is $ 1188003 ; the total of foreign is $ 98424 ;" ]

[ [ "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" ] ]

[ "( 1 ) represents consolidated noi and excludes our share of investments in unconsolidated entities .", "entities in which we have a joint venture with a minority partner are shown at 100% ( 100 % ) of the joint venture amount .", "see non-gaap financial measures for additional information and reconciliation .", "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/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 obligors/partners experience operating difficulties and become unable to generate sufficient cash to make payments or operating distributions 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 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 manages and monitors the outpatient medical portfolio with a comprehensive process including review of tenant relations ." ]

[ "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 .", "presented in conformity with u.s .", "generally accepted accounting principles ( 201cu.s .", "gaap 201d ) 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:well ) , 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 ( 201cu.s . 201d ) , canada and the united kingdom ( 201cu.k . 201d ) , 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 , 2017 ( dollars in thousands ) : type of property noi ( 1 ) percentage of number of properties ." ]

[ "type of property the triple-net of noi ( 1 ) is $ 967084 ; the triple-net of percentage of noi is 43.3% ( 43.3 % ) ; the triple-net of number of properties is 573 ;", "type of property the seniors housing operating of noi ( 1 ) is 880026 ; the seniors housing operating of percentage of noi is 39.5% ( 39.5 % ) ; the seniors housing operating of number of properties is 443 ;" ]

[ [ "type of property", "noi ( 1 )", "percentage of noi", "number of properties" ], [ "triple-net", "$ 967084", "43.3% ( 43.3 % )", "573" ], [ "seniors housing operating", "880026", "39.5% ( 39.5 % )", "443" ], [ "outpatient medical", "384068", "17.2% ( 17.2 % )", "270" ], [ "totals", "$ 2231178", "100.0% ( 100.0 % )", "1286" ] ]

[ "the volume/weather variance is primarily due to decreased usage during the unbilled sales period .", "see \"critical accounting estimates\" below and note 1 to the financial statements for further discussion of the accounting for unbilled revenues .", "the reserve equalization variance is primarily due to lower reserve equalization revenue related to changes in the entergy system generation mix compared to the same period in 2007 .", "the securitization transition charge variance is primarily due to the issuance of securitization bonds .", "in june 2007 , entergy gulf states reconstruction funding i , 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 .", "see note 5 to the financial statements for additional information regarding the securitization bonds .", "the fuel recovery variance is primarily due to a reserve for potential rate refunds made in the first quarter 2007 as a result of a puct ruling related to the application of past puct rulings addressing transition to competition in texas .", "the other variance is primarily caused by various operational effects of the jurisdictional separation on revenues and fuel and purchased power expenses .", "gross operating revenues , fuel and purchased power expenses , and other regulatory charges gross operating revenues increased $ 229.3 million primarily due to the following reasons : an increase of $ 157 million in fuel cost recovery revenues due to higher fuel rates and increased usage , partially offset by interim fuel refunds to customers for fuel cost recovery over-collections through november 2007 .", "the refund was distributed over a two-month period beginning february 2008 .", "the interim refund and the puct approval is discussed in note 2 to the financial statements ; an increase of $ 37.1 million in affiliated wholesale revenue primarily due to increases in the cost of energy ; an increase in transition charge amounts collected from customers to service the securitization bonds as discussed above .", "see note 5 to the financial statements for additional information regarding the securitization bonds ; and implementation of an interim surcharge to collect $ 10.3 million in under-recovered incremental purchased capacity costs incurred through july 2007 .", "the surcharge was collected over a two-month period beginning february 2008 .", "the incremental capacity recovery rider and puct approval is discussed in note 2 to the financial statements. ." ]

[ "entergy texas , inc .", "management's financial discussion and analysis net revenue 2008 compared to 2007 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 2008 to 2007 .", "amount ( in millions ) ." ]

[ "the 2007 net revenue of amount ( in millions ) is $ 442.3 ;", "the 2008 net revenue of amount ( in millions ) is $ 440.9 ;" ]

[ [ "", "amount ( in millions )" ], [ "2007 net revenue", "$ 442.3" ], [ "volume/weather", "-4.6 ( 4.6 )" ], [ "reserve equalization", "-3.3 ( 3.3 )" ], [ "securitization transition charge", "9.1" ], [ "fuel recovery", "7.5" ], [ "other", "-10.1 ( 10.1 )" ], [ "2008 net revenue", "$ 440.9" ] ]

[ "eog's accrued capital expenditures at december 31 , 2016 , 2015 and 2014 were $ 388 million , $ 416 million and $ 972 million , respectively .", "non-cash investing activities for the year ended december 31 , 2016 , included $ 3834 million in non-cash additions to eog's oil and gas properties related to the yates transaction ( see note 17 ) .", "non-cash investing activities for the year ended december 31 , 2014 included non-cash additions of $ 5 million to eog's oil and gas properties as a result of property exchanges .", "11 .", "business segment information eog's operations are all crude oil and natural gas exploration and production related .", "the segment reporting topic of the asc establishes standards for reporting information about operating segments in annual financial statements .", "operating segments are defined as components of an enterprise about which separate financial information is available and evaluated regularly by the chief operating decision maker , or decision-making group , in deciding how to allocate resources and in assessing performance .", "eog's chief operating decision-making process is informal and involves the chairman of the board and chief executive officer and other key officers .", "this group routinely reviews and makes operating decisions related to significant issues associated with each of eog's major producing areas in the united states , trinidad , the united kingdom and china .", "for segment reporting purposes , the chief operating decision maker considers the major united states producing areas to be one operating segment. ." ]

[ "the diluted earnings per share calculation excludes stock options , sars , restricted stock and units and performance units and stock that were anti-dilutive .", "shares underlying the excluded stock options and sars totaled 10.3 million , 10.2 million and 0.7 million for the years ended december 31 , 2016 , 2015 and 2014 , respectively .", "for the years ended december 31 , 2016 and 2015 , respectively , 4.5 million and 5.3 million shares of restricted stock and restricted stock units and performance units and performance stock were excluded .", "10 .", "supplemental cash flow information net cash paid for interest and income taxes was as follows for the years ended december 31 , 2016 , 2015 and 2014 ( in thousands ) : ." ]

[ "for the years ended december 31 , 2016 and 2015 , respectively , 4.5 million and 5.3 million shares of restricted stock and restricted stock units and performance units and performance stock were excluded ." ]

[ [ "", "2016", "2015", "2014" ], [ "interest net of capitalized interest", "$ 252030", "$ 222088", "$ 197383" ], [ "income taxes net of refunds received", "$ -39293 ( 39293 )", "$ 41108", "$ 342741" ] ]

[ "." ]

[ "anticipated or possible short-term cash needs , prevailing interest rates , our investment policy and alternative investment choices .", "a majority of our cash and cash equivalents balance is invested in money market mutual funds that invest only in u.s .", "treasury securities or u.s .", "government agency securities .", "our exposure to risk is minimal given the nature of the investments .", "our practice is to have our pension plan 100% ( 100 % ) funded at each year end on a projected benefit obligation basis , while also satisfying any minimum required contribution and obtaining the maximum tax deduction .", "based on our actuarial projections , we estimate that a $ 14.1 million contribution in 2011 will allow us to meet our funding goal .", "however , the amount of the actual contribution is contingent on the actual rate of return on our plan assets during 2011 and the december 31 , 2011 discount rate .", "net current deferred tax assets of $ 18.3 million and $ 23.8 million are included in other current assets at december 31 , 2010 and 2009 , respectively .", "total net current deferred tax assets include unrealized losses , stock- based compensation and accrued expenses .", "net long-term deferred tax liabilities were $ 7.8 billion and $ 7.6 billion at december 31 , 2010 and 2009 , respectively .", "net deferred tax liabilities are principally the result of purchase accounting for intangible assets in our various mergers including cbot holdings and nymex holdings .", "we have a long-term deferred tax asset of $ 145.7 million included within our domestic long-term deferred tax liability .", "this deferred tax asset is for an unrealized capital loss incurred in brazil related to our investment in bm&fbovespa .", "as of december 31 , 2010 , we do not believe that we currently meet the more-likely-than-not threshold that would allow us to fully realize the value of the unrealized capital loss .", "as a result , a partial valuation allowance of $ 64.4 million has been provided for the amount of the unrealized capital loss that exceeds potential capital gains that could be used to offset the capital loss in future periods .", "we also have a long-term deferred tax asset related to brazilian taxes of $ 125.3 million for an unrealized capital loss incurred in brazil related to our investment in bm&fbovespa .", "a full valuation allowance of $ 125.3 million has been provided because we do not believe that we currently meet the more-likely-than-not threshold that would allow us to realize the value of the unrealized capital loss in brazil in the future .", "valuation allowances of $ 49.4 million have also been provided for additional unrealized capital losses on various other investments .", "net long-term deferred tax assets also include a $ 19.3 million deferred tax asset for foreign net operating losses related to swapstream .", "our assessment at december 31 , 2010 was that we did not currently meet the more-likely- than-not threshold that would allow us to realize the value of acquired and accumulated foreign net operating losses in the future .", "as a result , the $ 19.3 million deferred tax assets arising from these net operating losses have been fully reserved .", "each clearing firm is required to deposit and maintain specified performance bond collateral .", "performance bond requirements are determined by parameters established by the risk management department of the clearing house and may fluctuate over time .", "we accept a variety of collateral to satisfy performance bond requirements .", "cash performance bonds and guaranty fund contributions are included in our consolidated balance sheets .", "clearing firm deposits , other than those retained in the form of cash , are not included in our consolidated balance sheets .", "the balances in cash performance bonds and guaranty fund contributions may fluctuate significantly over time .", "cash performance bonds and guaranty fund contributions consisted of the following at december 31: ." ]

[ "( in millions ) the cash performance bonds of 2010 is $ 3717.0 ; the cash performance bonds of 2009 is $ 5834.6 ;", "( in millions ) the cash guaranty fund contributions of 2010 is 231.8 ; the cash guaranty fund contributions of 2009 is 102.6 ;", "( in millions ) the cross-margin arrangements of 2010 is 79.7 ; the cross-margin arrangements of 2009 is 10.6 ;", "( in millions ) the total of 2010 is $ 4038.5 ; the total of 2009 is $ 5981.9 ;" ]

[ [ "( in millions )", "2010", "2009" ], [ "cash performance bonds", "$ 3717.0", "$ 5834.6" ], [ "cash guaranty fund contributions", "231.8", "102.6" ], [ "cross-margin arrangements", "79.7", "10.6" ], [ "performance collateral for delivery", "10.0", "34.1" ], [ "total", "$ 4038.5", "$ 5981.9" ] ]

[ "these estimated benefit payments are based on assumptions about future events .", "actual benefit payments may vary significantly from these estimates. ." ]

[ "the descriptions and fair value methodologies for the u.s .", "and international pension plan assets are as follows : cash and cash equivalents the carrying amounts of cash and cash equivalents approximate fair value due to the short-term maturity .", "equity securities equity securities are valued at the closing market price reported on a u.s .", "or international exchange where the security is actively traded and are therefore classified as level 1 assets .", "equity mutual and pooled funds shares of mutual funds are valued at the nav of the fund and are classified as level 1 assets .", "units of pooled funds are valued at the per unit nav determined by the fund manager based on the value of the underlying traded holdings and are classified as level 2 assets .", "corporate and government bonds corporate and government bonds are classified as level 2 assets , as they are either valued at quoted market prices from observable pricing sources at the reporting date or valued based upon comparable securities with similar yields and credit ratings .", "other pooled funds other pooled funds classified as level 2 assets are valued at the nav of the shares held at year end , which is based on the fair value of the underlying investments .", "securities and interests classified as level 3 assets are carried at the estimated fair value .", "the estimated fair value is based on the fair value of the underlying investment values , which includes estimated bids from brokers or other third-party vendor sources that utilize expected cash flow streams and other uncorroborated data including counterparty credit quality , default risk , discount rates , and the overall capital market liquidity .", "insurance contracts insurance contracts are classified as level 3 assets , as they are carried at contract value , which approximates the estimated fair value .", "the estimated fair value is based on the fair value of the underlying investment of the insurance company and discount rates that require inputs with limited observability .", "contributions and projected benefit payments pension contributions to funded plans and benefit payments for unfunded plans for fiscal year 2019 were $ 40.2 .", "contributions for funded plans resulted primarily from contractual and regulatory requirements .", "benefit payments to unfunded plans were due primarily to the timing of retirements .", "we anticipate contributing $ 30 to $ 40 to the defined benefit pension plans in fiscal year 2020 .", "these contributions are anticipated to be driven primarily by contractual and regulatory requirements for funded plans and benefit payments for unfunded plans , which are dependent upon timing of retirements .", "projected benefit payments , which reflect expected future service , are as follows: ." ]

[ "the 2025-2029 of u.s . is 919.9 ; the 2025-2029 of international is 308.3 ;" ]

[ [ "", "u.s .", "international" ], [ "2020", "$ 166.8", "$ 47.9" ], [ "2021", "160.0", "49.1" ], [ "2022", "166.0", "50.1" ], [ "2023", "170.1", "54.3" ], [ "2024", "174.1", "58.0" ], [ "2025-2029", "919.9", "308.3" ] ]

[ "." ]

[ "table of contents in march 2008 , the fasb issued sfas no .", "161 , disclosures about derivative instruments and hedging activities 2014an amendment of fasb statement no .", "133 , which requires companies to provide additional disclosures about its objectives and strategies for using derivative instruments , how the derivative instruments and related hedged items are accounted for under sfas no .", "133 , accounting for derivative instruments and hedging activities , and related interpretations , and how the derivative instruments and related hedged items affect the company 2019s financial statements .", "sfas no .", "161 also requires companies to disclose information about credit risk-related contingent features in their hedged positions .", "sfas no .", "161 is effective for fiscal years and interim periods beginning after november 15 , 2008 and is required to be adopted by the company beginning in the second quarter of fiscal 2009 .", "although the company will continue to evaluate the application of sfas no .", "161 , management does not currently believe adoption will have a material impact on the company 2019s financial condition or operating results .", "liquidity and capital resources the following table presents selected financial information and statistics as of and for the three fiscal years ended september 27 , 2008 ( in millions ) : as of september 27 , 2008 , the company had $ 24.5 billion in cash , cash equivalents , and short-term investments , an increase of $ 9.1 billion from september 29 , 2007 .", "the principal components of this net increase were cash generated by operating activities of $ 9.6 billion , proceeds from the issuance of common stock under stock plans of $ 483 million and excess tax benefits from stock-based compensation of $ 757 million .", "these increases were partially offset by payments for acquisitions of property , plant , and equipment of $ 1.1 billion , payments made in connection with business acquisitions , net of cash acquired , of $ 220 million and payments for acquisitions of intangible assets of $ 108 million .", "the company 2019s cash generated by operating activities significantly exceeded its net income due primarily to the large increase in deferred revenue , net of deferred costs , associated with subscription accounting for iphone .", "the company 2019s short-term investment portfolio is invested primarily in highly rated securities with a minimum rating of single-a .", "as of september 27 , 2008 and september 29 , 2007 , $ 11.3 billion and $ 6.5 billion , respectively , of the company 2019s cash , cash equivalents , and short- term investments were held by foreign subsidiaries and are generally based in u.s .", "dollar-denominated holdings .", "the company had $ 117 million in net unrealized losses on its investment portfolio , primarily related to investments with stated maturities ranging from one to five years , as of september 27 , 2008 , and net unrealized losses of approximately $ 11 million on its investment portfolio , primarily related to investments with stated maturities from one to five years , as of september 29 , 2007 .", "the company has the intent and ability to hold such investments for a sufficient period of time to allow for recovery of the principal amounts invested .", "accordingly , none of these declines in fair value were recognized in the company 2019s statement of operations .", "the company believes its existing balances of cash , cash equivalents , and short-term investments will be sufficient to satisfy its working capital needs , capital expenditures , outstanding commitments , and other liquidity requirements associated with its existing operations over the next 12 months .", "capital assets the company 2019s cash payments for capital asset purchases were $ 1.1 billion during 2008 , consisting of $ 389 million for retail store facilities and $ 702 million for real estate acquisitions and corporate infrastructure including information systems enhancements .", "the company anticipates utilizing approximately $ 1.5 billion for capital asset purchases during 2009 , including approximately $ 400 million for retail facilities and approximately $ 1.1 billion for corporate facilities and infrastructure. ." ]

[ "the cash cash equivalents and short-term investments of 2008 is $ 24490 ; the cash cash equivalents and short-term investments of 2007 is $ 15386 ; the cash cash equivalents and short-term investments of 2006 is $ 10110 ;" ]

[ [ "", "2008", "2007", "2006" ], [ "cash cash equivalents and short-term investments", "$ 24490", "$ 15386", "$ 10110" ], [ "accounts receivable net", "$ 2422", "$ 1637", "$ 1252" ], [ "inventory", "$ 509", "$ 346", "$ 270" ], [ "working capital", "$ 20598", "$ 12676", "$ 8066" ], [ "annual operating cash flow", "$ 9596", "$ 5470", "$ 2220" ] ]

[ "e&p segment revenues increased $ 1055 million from 2011 to 2012 , primarily due to higher average liquid hydrocarbon sales volumes .", "e&p segment revenues included a net realized gain on crude oil derivative instruments of $ 15 million in 2012 while the impact of derivatives was not significant in 2011 .", "see item 8 .", "financial statements and supplementary data 2013 note 16 to the consolidated financial statement for more information about our crude oil derivative instruments .", "included in our e&p segment are supply optimization activities which include the purchase of commodities from third parties for resale .", "see the cost of revenues discussion as revenues from supply optimization approximate the related costs .", "supply optimization serves to aggregate volumes in order to satisfy transportation commitments and to achieve flexibility within product ." ]

[ "key operating and financial activities significant operating and financial activities during 2012 include : 2022 net proved reserve additions for the e&p and osm segments combined of 389 mmboe , for a 226 percent reserve replacement 2022 increased proved liquid hydrocarbon and synthetic crude oil reserves by 316 mmbbls , for a reserve replacement of 268 percent for these commodities 2022 recorded more than 95 percent average operational availability for operated e&p assets 2022 increased e&p net sales volumes , excluding libya , by 8 percent 2022 eagle ford shale average net sales volumes of 65 mboed for december 2012 , a fourfold increase over december 2011 2022 bakken shale average net sales volumes of 29 mboed , a 71 percent increase over last year 2022 resumed sales from libya and reached pre-conflict production levels 2022 international liquid hydrocarbon sales volumes , for which average realizations have exceeded wti , were 62 percent of net e&p liquid hydrocarbon sales 2022 closed $ 1 billion of acquisitions in the core of the eagle ford shale 2022 assumed operatorship of the vilje field located offshore norway 2022 signed agreements for new exploration positions in e.g. , gabon , kenya and ethiopia 2022 issued $ 1 billion of 3-year senior notes at 0.9 percent interest and $ 1 billion of 10-year senior notes at 2.8 percent interest some significant 2013 activities through february 22 , 2013 include : 2022 closed sale of our alaska assets in january 2013 2022 closed sale of our interest in the neptune gas plant in february 2013 consolidated results of operations : 2012 compared to 2011 consolidated income before income taxes was 38 percent higher in 2012 than consolidated income from continuing operations before income taxes were in 2011 , largely due to higher liquid hydrocarbon sales volumes in our e&p segment , partially offset by lower earnings from our osm and ig segments .", "the 7 percent decrease in income from continuing operations included lower earnings in the u.k .", "and e.g. , partially offset by higher earnings in libya .", "also , in 2011 we were not in an excess foreign tax credit position for the entire year as we were in 2012 .", "the effective income tax rate for continuing operations was 74 percent in 2012 compared to 61 percent in 2011 .", "revenues are summarized in the following table: ." ]

[ "( in millions ) the e&p of 2012 is $ 14084 ; the e&p of 2011 is $ 13029 ;", "( in millions ) the total revenues of 2012 is $ 15688 ; the total revenues of 2011 is $ 14663 ;" ]

[ [ "( in millions )", "2012", "2011" ], [ "e&p", "$ 14084", "$ 13029" ], [ "osm", "1552", "1588" ], [ "ig", "2014", "93" ], [ "segment revenues", "15636", "14710" ], [ "elimination of intersegment revenues", "2014", "-47 ( 47 )" ], [ "unrealized gain on crude oil derivative instruments", "52", "2014" ], [ "total revenues", "$ 15688", "$ 14663" ] ]

[ "we recognized other than temporary impairments of our investments in sponsored mutual funds because of declines in fair value below cost for an extended period .", "the significant declines in fair value below cost that occurred in 2008 were generally attributable to adverse market conditions .", "in addition , income from money market and bond fund holdings was $ 19.3 million lower than in 2007 due to the significantly lower interest rate environment of 2008 .", "lower interest rates also led to substantial capital appreciation on our $ 40 million holding of u.s .", "treasury notes that we sold in december 2008 at a $ 2.6 million gain .", "the 2008 provision for income taxes as a percentage of pretax income is 38.4% ( 38.4 % ) , up from 37.7% ( 37.7 % ) in 2007 , primarily to reflect changes in state income tax rates and regulations and certain adjustments made prospectively based on our annual income tax return filings for 2007 .", "c a p i t a l r e s o u r c e s a n d l i q u i d i t y .", "during 2009 , stockholders 2019 equity increased from $ 2.5 billion to $ 2.9 billion .", "we repurchased nearly 2.3 million common shares for $ 67 million in 2009 .", "tangible book value is $ 2.2 billion at december 31 , 2009 , and our cash and cash equivalents and our mutual fund investment holdings total $ 1.4 billion .", "given the availability of these financial resources , we do not maintain an available external source of liquidity .", "on january 20 , 2010 , we purchased a 26% ( 26 % ) equity interest in uti asset management company and an affiliate for $ 142.4 million .", "we funded the acquisition from our cash holdings .", "in addition to the pending uti acquisition , we had outstanding commitments to fund other investments totaling $ 35.4 million at december 31 , 2009 .", "we presently anticipate funding 2010 property and equipment expenditures of about $ 150 million from our cash balances and operating cash inflows .", "22 t .", "rowe price group annual report 2009 ." ]

[ "administrative fees , which increased $ 5.8 million to $ 353.9 million , are generally offset by related operating expenses that are incurred to provide services to the funds and their investors .", "our largest expense , compensation and related costs , increased $ 18.4 million or 2.3% ( 2.3 % ) from 2007 .", "this increase includes $ 37.2 million in salaries resulting from an 8.4% ( 8.4 % ) increase in our average staff count and an increase of our associates 2019 base salaries at the beginning of the year .", "at december 31 , 2008 , we employed 5385 associates , up 6.0% ( 6.0 % ) from the end of 2007 , primarily to add capabilities and support increased volume-related activities and other growth over the past few years .", "over the course of 2008 , we slowed the growth of our associate base from earlier plans and the prior year .", "we also reduced our annual bonuses $ 27.6 million versus the 2007 year in response to unfavorable financial market conditions that negatively impacted our operating results .", "the balance of the increase is attributable to higher employee benefits and employment-related expenses , including an increase of $ 5.7 million in stock-based compensation .", "after higher spending during the first quarter of 2008 versus 2007 , investor sentiment in the uncertain and volatile market environment caused us to reduce advertising and promotion spending , which for the year was down $ 3.8 million from 2007 .", "occupancy and facility costs together with depreciation expense increased $ 18 million , or 12% ( 12 % ) compared to 2007 .", "we expanded and renovated our facilities in 2008 to accommodate the growth in our associates to meet business demands .", "other operating expenses were up $ 3.3 million from 2007 .", "we increased our spending $ 9.8 million , primarily for professional fees and information and other third-party services .", "reductions in travel and charitable contributions partially offset these increases .", "our non-operating investment activity resulted in a net loss of $ 52.3 million in 2008 as compared to a net gain of $ 80.4 million in 2007 .", "this change of $ 132.7 million is primarily attributable to losses recognized in 2008 on our investments in sponsored mutual funds , which resulted from declines in financial market values during the year. ." ]

[ "the capital gain distributions received of 2007 is $ 22.1 ; the capital gain distributions received of 2008 is $ 5.6 ; the capital gain distributions received of change is $ -16.5 ( 16.5 ) ;" ]

[ [ "", "2007", "2008", "change" ], [ "capital gain distributions received", "$ 22.1", "$ 5.6", "$ -16.5 ( 16.5 )" ], [ "other than temporary impairments recognized", "-.3 ( .3 )", "-91.3 ( 91.3 )", "-91.0 ( 91.0 )" ], [ "net gains ( losses ) realized onfund dispositions", "5.5", "-4.5 ( 4.5 )", "-10.0 ( 10.0 )" ], [ "net gain ( loss ) recognized on fund holdings", "$ 27.3", "$ -90.2 ( 90.2 )", "$ -117.5 ( 117.5 )" ] ]

[ "15 .", "leases future minimum rental commitments under non- cancelable operating leases in effect as of december 31 , 2008 were $ 38.2 million for 2009 , $ 30.1 million for 2010 , $ 20.9 million for 2011 , $ 15.9 million for 2012 , $ 14.3 million for 2013 and $ 29.9 million thereafter .", "total rent expense for the years ended december 31 , 2008 , 2007 and 2006 aggregated $ 41.4 million , $ 37.1 million and $ 31.1 million , respectively .", "16 .", "commitments and contingencies intellectual property and product liability-related litigation in july 2008 , we temporarily suspended marketing and distribution of the durom bb acetabular component ( durom cup ) in the u.s .", "to allow us to update product labeling to provide more detailed surgical technique instructions to surgeons and implement a surgical training program in the u.s .", "following our announcement , product liability lawsuits and other claims have been asserted against us , some of which we have settled .", "there are a number of claims still pending and we expect additional claims will be submitted .", "we recorded a provision of $ 47.5 million in the third quarter of 2008 , representing management 2019s estimate of these durom cup-related claims .", "we increased that provision by $ 21.5 million in the fourth quarter of 2008 .", "the provision is limited to revisions within two years of an original surgery that occurred prior to july 2008 .", "these parameters are consistent with our data which indicates that cup loosenings associated with surgical technique are most likely to occur within that time period .", "any claims received outside of these defined parameters will be managed in the normal course and reflected in our standard product liability accruals .", "on february 15 , 2005 , howmedica osteonics corp .", "filed an action against us and an unrelated party in the united states district court for the district of new jersey alleging infringement of u.s .", "patent nos .", "6174934 ; 6372814 ; 6664308 ; and 6818020 .", "on june 13 , 2007 , the court granted our motion for summary judgment on the invalidity of the asserted claims of u.s .", "patent nos .", "6174934 ; 6372814 ; and 6664308 by ruling that all of the asserted claims are invalid for indefiniteness .", "on august 19 , 2008 , the court granted our motion for summary judgment of non- infringement of certain claims of u.s .", "patent no .", "6818020 , reducing the number of claims at issue in the suit to five .", "we continue to believe that our defenses against infringement of the remaining claims are valid and meritorious , and we intend to defend this lawsuit vigorously .", "in addition to certain claims related to the durom cup discussed above , we are also subject to product liability and other claims and lawsuits arising in the ordinary course of business , for which we maintain insurance , subject to self- insured retention limits .", "we establish accruals for product liability and other claims in conjunction with outside counsel based on current information and historical settlement information for open claims , related fees and claims incurred but not reported .", "while it is not possible to predict with certainty the outcome of these cases , it is the opinion of management that , upon ultimate resolution , liabilities from these cases in excess of those recorded , if any , will not have a material adverse effect on our consolidated financial position , results of operations or cash flows .", "government investigations in march 2005 , the u.s .", "department of justice through the u.s .", "attorney 2019s office in newark , new jersey commenced an investigation of us and four other orthopaedic companies pertaining to consulting contracts , professional service agreements and other agreements by which remuneration is provided to orthopaedic surgeons .", "on september 27 , 2007 , we reached a settlement with the government to resolve all claims related to this investigation .", "as part of the settlement , we entered into a settlement agreement with the u.s .", "through the u.s .", "department of justice and the office of inspector general of the department of health and human services ( the 201coig-hhs 201d ) .", "in addition , we entered into a deferred prosecution agreement ( the 201cdpa 201d ) with the u.s .", "attorney 2019s office for the district of new jersey ( the 201cu.s .", "attorney 201d ) and a corporate integrity agreement ( the 201ccia 201d ) with the oig- hhs .", "we did not admit any wrongdoing , plead guilty to any criminal charges or pay any criminal fines as part of the settlement .", "we settled all civil and administrative claims related to the federal investigation by making a settlement payment to the u.s .", "government of $ 169.5 million .", "under the terms of the dpa , the u.s .", "attorney filed a criminal complaint in the u.s .", "district court for the district of new jersey charging us with conspiracy to commit violations of the anti-kickback statute ( 42 u.s.c .", "a7 1320a-7b ) during the years 2002 through 2006 .", "the court deferred prosecution of the criminal complaint during the 18-month term of the dpa .", "the u.s .", "attorney will seek dismissal of the criminal complaint after the 18-month period if we comply with the provisions of the dpa .", "the dpa provides for oversight by a federally-appointed monitor .", "under the cia , which has a term of five years , we agreed , among other provisions , to continue the operation of our enhanced corporate compliance program , designed to promote compliance with federal healthcare program z i m m e r h o l d i n g s , i n c .", "2 0 0 8 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 ) %%transmsg*** transmitting job : c48761 pcn : 060000000 ***%%pcmsg|60 |00012|yes|no|02/24/2009 06:10|0|0|page is valid , no graphics -- color : d| ." ]

[ "depreciation and amortization included in operating segment profit for the years ended december 31 , 2008 , 2007 and 2006 was as follows ( in millions ) : ." ]

[ "the europe of 2008 is 57.0 ; the europe of 2007 is 60.7 ; the europe of 2006 is 46.5 ;", "the asia pacific of 2008 is 25.6 ; the asia pacific of 2007 is 22.7 ; the asia pacific of 2006 is 18.7 ;" ]

[ [ "", "2008", "2007", "2006" ], [ "americas", "$ 78.5", "$ 66.9", "$ 56.7" ], [ "europe", "57.0", "60.7", "46.5" ], [ "asia pacific", "25.6", "22.7", "18.7" ], [ "global operations and corporate functions", "114.0", "79.7", "75.5" ], [ "total", "$ 275.1", "$ 230.0", "$ 197.4" ] ]

[ "balance at december 31 , 2012 .", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", "$ 1508 $ 20 $ 23426 $ 39912 $ 2932 $ ( 516 ) $ ( 2241 ) $ ( 2932 ) $ 3319 $ 65428 see notes to consolidated financial statements. ." ]

[ "morgan stanley consolidated statements of changes in total equity 2014 ( continued ) ( dollars in millions ) preferred common paid-in capital retained earnings employee accumulated comprehensive income ( loss ) common held in treasury at cost common issued to employee redeemable controlling interests equity balance at december 31 , 2011 .", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", "$ 1508 $ 20 $ 22836 $ 40341 $ 3166 $ ( 157 ) $ ( 2499 ) $ ( 3166 ) $ 8029 $ 70078 net income applicable to morgan stanley .", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", "2014 2014 2014 68 2014 2014 2014 2014 2014 68 net income applicable to nonredeemable noncontrolling interests .", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", "2014 2014 2014 2014 2014 2014 2014 2014 524 524 ." ]

[ "the dividends of preferred stock is 2014 ; the dividends of common stock is 2014 ; the dividends of paid-in capital is 2014 ; the dividends of retained earnings is -497 ( 497 ) ; the dividends of employee stock trust is 2014 ; the dividends of accumulated other comprehensive income ( loss ) is 2014 ; the dividends of common stock held in treasury at cost is 2014 ; the dividends of common stock issued to employee trust is 2014 ; the dividends of non- redeemable non- controlling interests is 2014 ; the dividends of total equity is -497 ( 497 ) ;", "the repurchases of common stock of preferred stock is 2014 ; the repurchases of common stock of common stock is 2014 ; the repurchases of common stock of paid-in capital is 2014 ; the repurchases of common stock of retained earnings is 2014 ; the repurchases of common stock of employee stock trust is 2014 ; the repurchases of common stock of accumulated other comprehensive income ( loss ) is 2014 ; the repurchases of common stock of common stock held in treasury at cost is -227 ( 227 ) ; the repurchases of common stock of common stock issued to employee trust is 2014 ; the repurchases of common stock of non- redeemable non- controlling interests is 2014 ; the repurchases of common stock of total equity is -227 ( 227 ) ;" ]

[ [ "", "preferred stock", "common stock", "paid-in capital", "retained earnings", "employee stock trust", "accumulated other comprehensive income ( loss )", "common stock held in treasury at cost", "common stock issued to employee trust", "non- redeemable non- controlling interests", "total equity" ], [ "balance at december 31 2011", "$ 1508", "$ 20", "$ 22836", "$ 40341", "$ 3166", "$ -157 ( 157 )", "$ -2499 ( 2499 )", "$ -3166 ( 3166 )", "$ 8029", "$ 70078" ], [ "net income applicable to morgan stanley", "2014", "2014", "2014", "68", "2014", "2014", "2014", "2014", "2014", "68" ], [ "net income applicable to nonredeemable noncontrolling interests", "2014", "2014", "2014", "2014", "2014", "2014", "2014", "2014", "524", "524" ], [ "dividends", "2014", "2014", "2014", "-497 ( 497 )", "2014", "2014", "2014", "2014", "2014", "-497 ( 497 )" ], [ "shares issued under employee plans and related tax effects", "2014", "2014", "662", "2014", "-234 ( 234 )", "2014", "485", "234", "2014", "1147" ], [ "repurchases of common stock", "2014", "2014", "2014", "2014", "2014", "2014", "-227 ( 227 )", "2014", "2014", "-227 ( 227 )" ], [ "net change in cash flow hedges", "2014", "2014", "2014", "2014", "2014", "6", "2014", "2014", "2014", "6" ], [ "pension postretirement and other related adjustments", "2014", "2014", "2014", "2014", "2014", "-265 ( 265 )", "2014", "2014", "5", "-260 ( 260 )" ], [ "foreign currency translation adjustments", "2014", "2014", "2014", "2014", "2014", "-128 ( 128 )", "2014", "2014", "-125 ( 125 )", "-253 ( 253 )" ], [ "change in net unrealized gains on securities available for sale", "2014", "2014", "2014", "2014", "2014", "28", "2014", "2014", "2014", "28" ], [ "purchase of additional stake in the wealth management joint venture", "2014", "2014", "-107 ( 107 )", "2014", "2014", "2014", "2014", "2014", "-1718 ( 1718 )", "-1825 ( 1825 )" ], [ "reclassification to redeemable noncontrolling interests", "2014", "2014", "2014", "2014", "2014", "2014", "2014", "2014", "-4288 ( 4288 )", "-4288 ( 4288 )" ], [ "other net increases", "2014", "2014", "35", "2014", "2014", "2014", "2014", "2014", "892", "927" ], [ "balance at december 31 2012", "$ 1508", "$ 20", "$ 23426", "$ 39912", "$ 2932", "$ -516 ( 516 )", "$ -2241 ( 2241 )", "$ -2932 ( 2932 )", "$ 3319", "$ 65428" ] ]

[ "( 1 ) effective price per share calculated using the volume-weighted average price of the company 2019s class a common stock over a pricing period in accordance with the company 2019s current certificate of incorporation .", "class b common stock .", "the class b common stock is not convertible or transferable until the date on which all of the covered litigation has been finally resolved .", "this transfer restriction is subject to limited exceptions , including transfers to other holders of class b common stock .", "after termination of the restrictions , the class b common stock will be convertible into class a common stock if transferred to a person that was not a visa member ( as defined in the current certificate of incorporation ) or similar person or an affiliate of a visa member or similar person .", "upon such transfer , each share of class b common stock will automatically convert into a number of shares of class a common stock based upon the applicable conversion rate in effect at the time of such transfer .", "adjustment of the conversion rate occurs upon : ( i ) the completion of any follow-on offering of class a common stock completed to increase the size of the litigation escrow account ( or any cash deposit by the company in lieu thereof ) resulting in a further corresponding decrease in the conversion rate ; or ( ii ) the final resolution of the covered litigation and the release of funds remaining on deposit in the litigation escrow account to the company resulting in a corresponding increase in the conversion rate. ." ]

[ "visa inc .", "notes to consolidated financial statements 2014 ( continued ) september 30 , 2013 in july 2013 , the company 2019s board of directors authorized a $ 1.5 billion share repurchase program to be in effect through july 2014 .", "as of september 30 , 2013 , the program had remaining authorized funds of $ 251 million .", "all share repurchase programs authorized prior to july 2013 have been completed .", "in october 2013 , the company 2019s board of directors authorized a new $ 5.0 billion share repurchase program .", "under the terms of the retrospective responsibility plan , when the company makes a deposit into the litigation escrow account , the shares of class b common stock are subject to dilution through an adjustment to the conversion rate of the shares of class b common stock to shares of class a common stock .", "these deposits have the same economic effect on earnings per share as repurchasing the company 2019s class a common stock , because they reduce the class b conversion rate and consequently the as-converted class a common stock share count .", "the following table presents as-converted class b common stock after deposits into the litigation escrow account in fiscal 2012 .", "there were no deposits into the litigation escrow account in fiscal 2013. ." ]

[ "( in millions except per share and conversion rate data ) the effective price per share ( 1 ) of fiscal 2012 july 2012 is $ 125.50 ; the effective price per share ( 1 ) of fiscal 2012 december 2011 is $ 101.75 ;" ]

[ [ "( in millions except per share and conversion rate data )", "fiscal 2012 july 2012", "fiscal 2012 december 2011" ], [ "deposits under the retrospective responsibility plan", "$ 150", "$ 1565" ], [ "effective price per share ( 1 )", "$ 125.50", "$ 101.75" ], [ "reduction in equivalent number of shares of class a common stock", "1", "15" ], [ "conversion rate of class b common stock to class a common stock after deposits", "0.4206", "0.4254" ], [ "as-converted class b common stock after deposits", "103", "104" ] ]

[ "( 1 ) the 1.20% ( 1.20 % ) $ 650 million note due december 15 , 2016 was redeemed on november 13 , 2014 .", "the senior notes were classified as short-term debt on devon 2019s consolidated balance sheet as of december 31 , 2013 due to certain redemption features in the event that the geosouthern acquisition was not completed on or prior to june 30 , 2014 .", "on february 28 , 2014 , the geosouthern acquisition closed and thus the senior notes were subsequently classified as long-term debt .", "additionally , during december 2013 , devon entered into a term loan agreement with a group of major financial institutions pursuant to which devon could draw up to $ 2.0 billion to finance , in part , the geosouthern acquisition and to pay transaction costs .", "in february 2014 , devon drew the $ 2.0 billion of term loans for the geosouthern transaction , and the amount was subsequently repaid on june 30 , 2014 with the canadian divestiture proceeds that were repatriated to the u.s .", "in june 2014 , at which point the term loan was terminated. ." ]

[ "devon energy corporation and subsidiaries notes to consolidated financial statements 2013 ( continued ) other debentures and notes following are descriptions of the various other debentures and notes outstanding at december 31 , 2014 and 2013 , as listed in the table presented at the beginning of this note .", "geosouthern debt in december 2013 , in conjunction with the planned geosouthern acquisition , devon issued $ 2.25 billion aggregate principal amount of fixed and floating rate senior notes resulting in cash proceeds of approximately $ 2.2 billion , net of discounts and issuance costs .", "the floating rate senior notes due in 2015 bear interest at a rate equal to three-month libor plus 0.45 percent , which rate will be reset quarterly .", "the floating rate senior notes due in 2016 bears interest at a rate equal to three-month libor plus 0.54 percent , which rate will be reset quarterly .", "the schedule below summarizes the key terms of these notes ( in millions ) . ." ]

[ "floating rate due december 15 2015 the floating rate due december 15 2016 of $ 500 is 350 ;", "floating rate due december 15 2015 the net proceeds of $ 500 is $ 2248 ;", "the schedule below summarizes the key terms of these notes ( in millions ) . ." ]

[ [ "floating rate due december 15 2015", "$ 500" ], [ "floating rate due december 15 2016", "350" ], [ "1.20% ( 1.20 % ) due december 15 2016 ( 1 )", "650" ], [ "2.25% ( 2.25 % ) due december 15 2018", "750" ], [ "discount and issuance costs", "-2 ( 2 )" ], [ "net proceeds", "$ 2248" ] ]

[ "." ]

[ "performance graph comparison of five-year cumulative total return the following graph and table compare the cumulative total return on citi 2019s common stock , which is listed on the nyse under the ticker symbol 201cc 201d and held by 81805 common stockholders of record as of january 31 , 2016 , with the cumulative total return of the s&p 500 index and the s&p financial index over the five-year period through december 31 , 2015 .", "the graph and table assume that $ 100 was invested on december 31 , 2010 in citi 2019s common stock , the s&p 500 index and the s&p financial index , and that all dividends were reinvested .", "comparison of five-year cumulative total return for the years ended date citi s&p 500 financials ." ]

[ "date the 31-dec-2010 of citi is 100.00 ; the 31-dec-2010 of s&p 500 is 100.00 ; the 31-dec-2010 of s&p financials is 100.00 ;", "date the 31-dec-2015 of citi is 110.14 ; the 31-dec-2015 of s&p 500 is 180.75 ; the 31-dec-2015 of s&p financials is 164.39 ;" ]

[ [ "date", "citi", "s&p 500", "s&p financials" ], [ "31-dec-2010", "100.00", "100.00", "100.00" ], [ "30-dec-2011", "55.67", "102.11", "82.94" ], [ "31-dec-2012", "83.81", "118.45", "106.84" ], [ "31-dec-2013", "110.49", "156.82", "144.90" ], [ "31-dec-2014", "114.83", "178.28", "166.93" ], [ "31-dec-2015", "110.14", "180.75", "164.39" ] ]

[ "we have used interest rate swaps for risk management purposes to manage our exposure to changes in interest rates .", "we do not have any interest rate swaps outstanding as of december 31 , 2013 .", "we had $ 1642.1 of cash , cash equivalents and marketable securities as of december 31 , 2013 that we generally invest in conservative , short-term bank deposits or securities .", "the interest income generated from these investments is subject to both domestic and foreign interest rate movements .", "during 2013 and 2012 , we had interest income of $ 24.7 and $ 29.5 , respectively .", "based on our 2013 results , a 100-basis-point increase or decrease in interest rates would affect our interest income by approximately $ 16.4 , assuming that all cash , cash equivalents and marketable securities are impacted in the same manner and balances remain constant from year-end 2013 levels .", "foreign currency rates we are subject to translation and transaction risks related to changes in foreign currency exchange rates .", "since we report revenues and expenses in u.s .", "dollars , changes in exchange rates may either positively or negatively affect our consolidated revenues and expenses ( as expressed in u.s .", "dollars ) from foreign operations .", "the primary foreign currencies that impacted our results during 2013 were the australian dollar , brazilian real , euro , japanese yen and the south african rand .", "based on 2013 exchange rates and operating results , if the u.s .", "dollar were to strengthen or weaken by 10% ( 10 % ) , we currently estimate operating income would decrease or increase between 3% ( 3 % ) and 4% ( 4 % ) , assuming that all currencies are impacted in the same manner and our international revenue and expenses remain constant at 2013 levels .", "the functional currency of our foreign operations is generally their respective local currency .", "assets and liabilities are translated at the exchange rates in effect at the balance sheet date , and revenues and expenses are translated at the average exchange rates during the period presented .", "the resulting translation adjustments are recorded as a component of accumulated other comprehensive loss , net of tax , in the stockholders 2019 equity section of our consolidated balance sheets .", "our foreign subsidiaries generally collect revenues and pay expenses in their functional currency , mitigating transaction risk .", "however , certain subsidiaries may enter into transactions in currencies other than their functional currency .", "assets and liabilities denominated in currencies other than the functional currency are susceptible to movements in foreign currency until final settlement .", "currency transaction gains or losses primarily arising from transactions in currencies other than the functional currency are included in office and general expenses .", "we have not entered into a material amount of foreign currency forward exchange contracts or other derivative financial instruments to hedge the effects of potential adverse fluctuations in foreign currency exchange rates. ." ]

[ "item 7a .", "quantitative and qualitative disclosures about market risk ( amounts in millions ) in the normal course of business , we are exposed to market risks related to interest rates , foreign currency rates and certain balance sheet items .", "from time to time , we use derivative instruments , pursuant to established guidelines and policies , to manage some portion of these risks .", "derivative instruments utilized in our hedging activities are viewed as risk management tools and are not used for trading or speculative purposes .", "interest rates our exposure to market risk for changes in interest rates relates primarily to the fair market value and cash flows of our debt obligations .", "the majority of our debt ( approximately 89% ( 89 % ) and 93% ( 93 % ) as of december 31 , 2013 and 2012 , respectively ) bears interest at fixed rates .", "we do have debt with variable interest rates , but a 10% ( 10 % ) increase or decrease in interest rates would not be material to our interest expense or cash flows .", "the fair market value of our debt is sensitive to changes in interest rates , and the impact of a 10% ( 10 % ) change in interest rates is summarized below .", "increase/ ( decrease ) in fair market value as of december 31 , 10% ( 10 % ) increase in interest rates 10% ( 10 % ) decrease in interest rates ." ]

[ "we had $ 1642.1 of cash , cash equivalents and marketable securities as of december 31 , 2013 that we generally invest in conservative , short-term bank deposits or securities .", "during 2013 and 2012 , we had interest income of $ 24.7 and $ 29.5 , respectively ." ]

[ [ "as of december 31,", "increase/ ( decrease ) in fair market value 10% ( 10 % ) increasein interest rates", "increase/ ( decrease ) in fair market value 10% ( 10 % ) decreasein interest rates" ], [ "2013", "$ -26.9 ( 26.9 )", "$ 27.9" ], [ "2012", "-27.5 ( 27.5 )", "28.4" ] ]

[ "cadence completed its annual goodwill impairment test during the third quarter of fiscal 2016 and determined that the fair value of cadence 2019s single reporting unit substantially exceeded the carrying amount of its net assets and that no impairment existed. ." ]

[ "results of operations and the estimated fair value of acquired assets and assumed liabilities are recorded in the consolidated financial statements from the date of acquisition .", "pro forma results of operations for the business combinations completed during fiscal 2016 have not been presented because the effects of these acquisitions , individually and in the aggregate , would not have been material to cadence 2019s financial results .", "the fair values of acquired intangible assets and assumed liabilities were determined using significant inputs that are not observable in the market .", "for an additional description of these fair value calculations , see note 16 in the notes to the consolidated financial statements .", "a trust for the benefit of the children of lip-bu tan , cadence 2019s president , chief executive officer , or ceo , and director , owned less than 2% ( 2 % ) of rocketick technologies ltd. , one of the acquired companies , and mr .", "tan and his wife serve as co-trustees of the trust and disclaim pecuniary and economic interest in the trust .", "the board of directors of cadence reviewed the transaction and concluded that it was in the best interests of cadence to proceed with the transaction .", "mr .", "tan recused himself from the board of directors 2019 discussion of the valuation of rocketick technologies ltd .", "and on whether to proceed with the transaction .", "a financial advisor provided a fairness opinion to cadence in connection with the transaction .", "2014 acquisitions during fiscal 2014 , cadence acquired jasper design automation , inc. , or jasper , a privately held provider of formal analysis solutions based in mountain view , california .", "the acquired technology complements cadence 2019s existing system design and verification platforms .", "total cash consideration for jasper , after taking into account adjustments for certain costs , and cash held by jasper at closing of $ 28.7 million , was $ 139.4 million .", "cadence will also make payments to certain employees through the third quarter of fiscal 2017 subject to continued employment and other conditions .", "cadence also completed two other business combinations during fiscal 2014 for total cash consideration of $ 27.5 million , after taking into account cash acquired of $ 2.1 million .", "acquisition-related transaction costs transaction costs associated with acquisitions were $ 1.1 million , $ 0.7 million and $ 3.7 million during fiscal 2016 , 2015 and 2014 , respectively .", "these costs consist of professional fees and administrative costs and were expensed as incurred in cadence 2019s consolidated income statements .", "note 8 .", "goodwill and acquired intangibles goodwill the changes in the carrying amount of goodwill during fiscal 2016 and 2015 were as follows : gross carrying amount ( in thousands ) ." ]

[ "the balance as of january 3 2015 of gross carryingamount ( in thousands ) is $ 553767 ;", "the balance as of december 31 2016 of gross carryingamount ( in thousands ) is $ 572764 ;" ]

[ [ "", "gross carryingamount ( in thousands )" ], [ "balance as of january 3 2015", "$ 553767" ], [ "effect of foreign currency translation", "-1995 ( 1995 )" ], [ "balance as of january 2 2016", "551772" ], [ "goodwill resulting from acquisitions", "23579" ], [ "effect of foreign currency translation", "-2587 ( 2587 )" ], [ "balance as of december 31 2016", "$ 572764" ] ]

[ "in 2002 , 2001 and 2000 , the results of operations and the financial position of cemig were negatively impacted by the devaluation of the brazilian real and the impairment charge recorded in 2002 .", "the brazilian real devalued 32% ( 32 % ) , 19% ( 19 % ) and 8% ( 8 % ) for the years ended december 31 , 2002 , 2001 and 2000 , respectively .", "the company recorded $ 83 million , $ 210 million , and $ 64 million of pre-tax non-cash foreign currency transaction losses on its investments in brazilian equity method affiliates during 2002 , 2001 and 2000 , respectively. ." ]

[ "affiliated company .", "the loss recorded on the sale was approximately $ 14 million and is recorded as a loss on sale of assets and asset impairment expenses in the accompanying consolidated statements of operations .", "in the second quarter of 2002 , the company recorded an impairment charge of approximately $ 40 million , after income taxes , on an equity method investment in a telecommunications company in latin america held by edc .", "the impairment charge resulted from sustained poor operating performance coupled with recent funding problems at the invested company .", "during 2001 , the company lost operational control of central electricity supply corporation ( 2018 2018cesco 2019 2019 ) , a distribution company located in the state of orissa , india .", "cesco is accounted for as a cost method investment .", "in may 2000 , the company completed the acquisition of 100% ( 100 % ) of tractebel power ltd ( 2018 2018tpl 2019 2019 ) for approximately $ 67 million and assumed liabilities of approximately $ 200 million .", "tpl owned 46% ( 46 % ) of nigen .", "the company also acquired an additional 6% ( 6 % ) interest in nigen from minority stockholders during the year ended december 31 , 2000 through the issuance of approximately 99000 common shares of aes stock valued at approximately $ 4.9 million .", "with the completion of these transactions , the company owns approximately 98% ( 98 % ) of nigen 2019s common stock and began consolidating its financial results beginning may 12 , 2000 .", "approximately $ 100 million of the purchase price was allocated to excess of costs over net assets acquired and was amortized through january 1 , 2002 at which time the company adopted sfas no .", "142 and ceased amortization of goodwill .", "in august 2000 , a subsidiary of the company acquired a 49% ( 49 % ) interest in songas limited ( 2018 2018songas 2019 2019 ) for approximately $ 40 million .", "the company acquired an additional 16.79% ( 16.79 % ) of songas for approximately $ 12.5 million , and the company began consolidating this entity in 2002 .", "songas owns the songo songo gas-to-electricity project in tanzania .", "in december 2002 , the company signed a sales purchase agreement to sell songas .", "the sale is expected to close in early 2003 .", "see note 4 for further discussion of the transaction .", "the following table presents summarized comparative financial information ( in millions ) for the company 2019s investments in 50% ( 50 % ) or less owned investments accounted for using the equity method. ." ]

[ "as of and for the years ended december 31 , the revenues of 2002 is $ 2832 ; the revenues of 2001 is $ 6147 ; the revenues of 2000 is $ 6241 ;" ]

[ [ "as of and for the years ended december 31,", "2002", "2001", "2000" ], [ "revenues", "$ 2832", "$ 6147", "$ 6241" ], [ "operating income", "695", "1717", "1989" ], [ "net income", "229", "650", "859" ], [ "current assets", "1097", "3700", "2423" ], [ "noncurrent assets", "6751", "14942", "13080" ], [ "current liabilities", "1418", "3510", "3370" ], [ "noncurrent liabilities", "3349", "8297", "5927" ], [ "stockholder's equity", "3081", "6835", "6206" ] ]

[ "balances as of december 31 , 2017 ( 1 ) $ 1074.1 $ 185.9 $ 929.6 $ 290.0 $ 2479.6 ( 1 ) goodwill is net of accumulated impairment losses of $ 1571 million , $ 354 million and $ 28 million related to the corporate , public and other segments , respectively .", "( 2 ) amounts have been recast to present small business as its own operating and reportable segment .", "( 3 ) effective january 1 , 2016 , the cdw advanced services business is included in the company's corporate and public segments .", "( 4 ) other is comprised of canada and cdw uk operating segments .", "with the establishment of small business as its own reporting unit , the company performed a quantitative analysis in order to allocate goodwill between corporate and small business .", "based on the results of the quantitative analysis performed as of january 1 , 2017 , the company determined that the fair values of corporate and small business reporting units exceeded their carrying values by 227% ( 227 % ) and 308% ( 308 % ) , respectively , and no impairment existed .", "december 1 , 2017 impairment analysis the company completed its annual impairment analysis as of december 1 , 2017 .", "for the corporate , small business and uk reporting units , the company performed a qualitative analysis .", "the company determined that it was more-likely- than-not that the individual fair values of the corporate , small business and uk reporting units exceeded the respective carrying values and therefore a quantitative impairment analysis was deemed unnecessary .", "although uncertainty regarding the impact of the referendum on the uk 2019s membership of the european union ( 201ceu 201d ) , advising for the exit of the uk from the eu ( referred to as 201cbrexit 201d ) still exists in the current year , the company does not believe there to be any additional risk that would indicate the quantitative analysis performed in the prior year would have a different result .", "therefore , a qualitative analysis was deemed appropriate for the uk reporting unit .", "the company performed a quantitative analysis of the public and canada reporting units .", "based on the results of the quantitative analysis , the company determined that the fair value of the public and canada reporting units exceeded their carrying values by 179% ( 179 % ) and 153% ( 153 % ) , respectively , and no impairment existed .", "december 1 , 2016 impairment analysis the company completed its annual impairment analysis as of december 1 , 2016 .", "for the corporate ( which , as of december 1 , 2016 , included small business ) , public and canada reporting units , the company performed a qualitative analysis .", "the company determined that it was more-likely-than-not that the individual fair values of the corporate , public and canada reporting units exceeded the respective carrying values .", "as a result of this determination , the quantitative impairment analysis was deemed unnecessary .", "due to the substantial uncertainty regarding the impact of brexit , the company performed a quantitative analysis of the cdw uk reporting unit .", "based on the results of the quantitative analysis , the company determined that the fair value of the cdw uk reporting unit exceeded its carrying value and no impairment existed. ." ]

[ "table of contents cdw corporation and subsidiaries 6 .", "goodwill and other intangible assets goodwill the changes in goodwill by reportable segment are as follows : ( in millions ) corporate business ( 2 ) public other ( 4 ) consolidated balance at december 31 , 2014 ( 1 ) $ 1045.9 $ 185.9 $ 911.3 $ 74.5 $ 2217.6 ." ]

[ "( in millions ) the balance at december 31 2014 ( 1 ) of corporate is $ 1045.9 ; the balance at december 31 2014 ( 1 ) of small business ( 2 ) is $ 185.9 ; the balance at december 31 2014 ( 1 ) of public is $ 911.3 ; the balance at december 31 2014 ( 1 ) of other ( 4 ) is $ 74.5 ; the balance at december 31 2014 ( 1 ) of consolidated is $ 2217.6 ;" ]

[ [ "( in millions )", "corporate", "small business ( 2 )", "public", "other ( 4 )", "consolidated" ], [ "balance at december 31 2014 ( 1 )", "$ 1045.9", "$ 185.9", "$ 911.3", "$ 74.5", "$ 2217.6" ], [ "foreign currency translation", "2014", "2014", "2014", "-22.4 ( 22.4 )", "-22.4 ( 22.4 )" ], [ "acquisition", "2014", "2014", "2014", "305.2", "305.2" ], [ "balance at december 31 2015 ( 1 )", "1045.9", "185.9", "911.3", "357.3", "2500.4" ], [ "foreign currency translation", "2014", "2014", "2014", "-45.4 ( 45.4 )", "-45.4 ( 45.4 )" ], [ "cdw advanced services allocation ( 3 )", "28.2", "2014", "18.3", "-46.5 ( 46.5 )", "2014" ], [ "balance at december 31 2016 ( 1 )", "1074.1", "185.9", "929.6", "265.4", "2455.0" ], [ "foreign currency translation", "2014", "2014", "2014", "24.6", "24.6" ], [ "balances as of december 31 2017 ( 1 )", "$ 1074.1", "$ 185.9", "$ 929.6", "$ 290.0", "$ 2479.6" ] ]

[ "( a ) represents 201ccombined 201d financial data , which includes the financial results of american and us airways group each on a standalone basis .", "total combined fuel expenses for our wholly-owned and third-party regional carriers operating under capacity purchase agreements of american and us airways group , each on a standalone basis , were $ 2.0 billion , $ 2.1 billion and $ 2.1 billion for the years ended december 31 , 2014 , 2013 and 2012 , respectively. ." ]

[ "table of contents respect to the mainline american and the mainline us airways dispatchers , flight simulator engineers and flight crew training instructors , all of whom are now represented by the twu , a rival organization , the national association of airline professionals ( naap ) , filed single carrier applications seeking to represent those employees .", "the nmb will have to determine that a single transportation system exists and will certify a post-merger representative of the combined employee groups before the process for negotiating new jcbas can begin .", "the merger had no impact on the cbas that cover the employees of our wholly-owned subsidiary airlines which are not being merged ( envoy , piedmont and psa ) .", "for those employees , the rla provides that cbas do not expire , but instead become amendable as of a stated date .", "in 2014 , envoy pilots ratified a new 10 year collective bargaining agreement , piedmont pilots ratified a new 10 year collective bargaining agreement and piedmont flight attendants ratified a new five-year collective bargaining agreement .", "with the exception of the passenger service employees who are now engaged in traditional rla negotiations that are expected to result in a jcba and the us airways flight simulator engineers and flight crew training instructors , other union-represented american mainline employees are covered by agreements that are not currently amendable .", "until those agreements become amendable , negotiations for jcbas will be conducted outside the traditional rla bargaining process described above , and , in the meantime , no self-help will be permissible .", "the piedmont mechanics and stock clerks and the psa and piedmont dispatchers also have agreements that are now amendable and are engaged in traditional rla negotiations .", "none of the unions representing our employees presently may lawfully engage in concerted refusals to work , such as strikes , slow-downs , sick-outs or other similar activity , against us .", "nonetheless , there is a risk that disgruntled employees , either with or without union involvement , could engage in one or more concerted refusals to work that could individually or collectively harm the operation of our airline and impair our financial performance .", "for more discussion , see part i , item 1a .", "risk factors 2013 201cunion disputes , employee strikes and other labor-related disruptions may adversely affect our operations . 201d aircraft fuel our operations and financial results are significantly affected by the availability and price of jet fuel .", "based on our 2015 forecasted mainline and regional fuel consumption , we estimate that , as of december 31 , 2014 , a one cent per gallon increase in aviation fuel price would increase our 2015 annual fuel expense by $ 43 million .", "the following table shows annual aircraft fuel consumption and costs , including taxes , for our mainline operations for 2012 through 2014 ( gallons and aircraft fuel expense in millions ) .", "year gallons average price per gallon aircraft fuel expense percent of total mainline operating expenses ." ]

[ "year the 2013 ( a ) of gallons is 3608 ; the 2013 ( a ) of average price per gallon is 3.08 ; the 2013 ( a ) of aircraft fuel expense is 11109 ; the 2013 ( a ) of percent of total mainline operating expenses is 35.4 ;" ]

[ [ "year", "gallons", "average price per gallon", "aircraft fuel expense", "percent of total mainline operating expenses" ], [ "2014", "3644", "$ 2.91", "$ 10592", "33.2% ( 33.2 % )" ], [ "2013 ( a )", "3608", "3.08", "11109", "35.4" ], [ "2012 ( a )", "3512", "3.19", "11194", "35.8" ] ]

[ "periodically , revisions are made to the categorization of the components comprising our strategic merchandise units .", "when revisions are made , the previous periods' presentation is adjusted to maintain comparability .", "operations .", "many supercenters , discount stores and neighborhood markets are open 24 hours each day .", "a variety of payment methods are accepted at our stores and through our ecommerce websites and mobile commerce applications .", "seasonal aspects of operations .", "walmart u.s.'s business is seasonal to a certain extent due to calendar events and national and religious holidays , as well as different weather patterns .", "historically , its highest sales volume and segment operating income have occurred in the fiscal quarter ending january a031 .", "competition .", "walmart u.s .", "competes with both physical retailers operating discount , department , retail and wholesale grocers , drug , dollar , variety and specialty stores , supermarkets , hypermarkets and supercenter-type stores , and digital retailers , as well as catalog businesses .", "we also compete with others for desirable sites for new or relocated retail units .", "our ability to develop , open and operate units at the right locations and to deliver a customer-centric omni-channel experience largely determines our competitive position within the retail industry .", "we employ many programs designed to meet competitive pressures within our industry .", "these programs include the following : 2022 edlp : our pricing philosophy under which we price items at a low price every day so our customers trust that our prices will not change under frequent promotional activity ; 2022 edlc : everyday low cost is our commitment to control expenses so our cost savings can be passed along to our customers; ." ]

[ "services like \"walmart pickup\" \"pickup today\" and in over 1100 \"online grocery\" pickup locations to provide an omni- channel offering to our customers .", "walmart u.s .", "also offers access to digital content and services including vudu .", "merchandise .", "walmart u.s .", "does business in three strategic merchandise units , listed below , across several store formats including supercenters , discount stores , neighborhood markets and other small store formats , as well as on our ecommerce websites .", "2022 grocery consists of a full line of grocery items , including meat , produce , natural & organics , deli & bakery , dairy , frozen foods , alcoholic and nonalcoholic beverages , floral and dry grocery , as well as consumables such as health and beauty aids , baby products , household chemicals , paper goods and pet supplies ; 2022 health and wellness includes pharmacy , optical services , clinical services , and over-the-counter drugs and other medical products ; 2022 general merchandise includes : 25e6 entertainment ( e.g. , electronics , cameras and supplies , photo processing services , wireless , movies , music , video games and books ) ; 25e6 hardlines ( e.g. , stationery , automotive , hardware and paint , sporting goods , outdoor living and horticulture ) ; 25e6 apparel ( e.g. , apparel for women , girls , men , boys and infants , as well as shoes , jewelry and accessories ) ; and 25e6 home/seasonal ( e.g. , home furnishings , housewares and small appliances , bedding , home decor , toys , fabrics and crafts and seasonal merchandise ) .", "walmart u.s .", "also offers fuel and financial services and related products , including money orders , prepaid cards , wire transfers , money transfers , check cashing and bill payment .", "these services total less than 1% ( 1 % ) of annual net sales .", "brand name merchandise represents a significant portion of the merchandise sold in walmart u.s .", "we also market lines of merchandise under our private-label store brands , including : \"adventure force\" \"autodrive\" \"blackweb\" \"equate\" \"everstart\" \"faded glory\" \"george\" \"great value\" \"holiday time\" \"hyper tough\" \"kid connection\" \"mainstays\" \"marketside\" \"my life as\" \"no boundaries\" \"ol' roy\" \"onn\" \"ozark trail\" \"parent's choice\" \"prima della\" \"pure balance\" \"sam's choice\" \"special kitty\" \"spring valley\" \"terra & sky\" \"time and tru\" \"way to celebrate\" and \"wonder nation.\" the company also markets lines of merchandise under licensed brands , some of which include : \"better homes a0& gardens\" \"farberware\" \"russell\" and \"swisstech.\" the percentage of strategic merchandise unit net sales for walmart u.s. , including online sales , was as follows for fiscal 2018 , 2017 and 2016: ." ]

[ "strategic merchandise units the grocery of fiscal years ended january 31 , 2018 is 56% ( 56 % ) ; the grocery of fiscal years ended january 31 , 2017 is 56% ( 56 % ) ; the grocery of fiscal years ended january 31 , 2016 is 56% ( 56 % ) ;", "strategic merchandise units the health and wellness of fiscal years ended january 31 , 2018 is 11% ( 11 % ) ; the health and wellness of fiscal years ended january 31 , 2017 is 11% ( 11 % ) ; the health and wellness of fiscal years ended january 31 , 2016 is 11% ( 11 % ) ;" ]

[ [ "strategic merchandise units", "fiscal years ended january 31 , 2018", "fiscal years ended january 31 , 2017", "fiscal years ended january 31 , 2016" ], [ "grocery", "56% ( 56 % )", "56% ( 56 % )", "56% ( 56 % )" ], [ "health and wellness", "11% ( 11 % )", "11% ( 11 % )", "11% ( 11 % )" ], [ "general merchandise", "33% ( 33 % )", "33% ( 33 % )", "33% ( 33 % )" ], [ "total", "100% ( 100 % )", "100% ( 100 % )", "100% ( 100 % )" ] ]

[ "56 goldman sachs 2012 annual report ." ]

[ "management 2019s discussion and analysis 2011 versus 2010 .", "net revenues in investing & lending were $ 2.14 billion and $ 7.54 billion for 2011 and 2010 , respectively .", "during 2011 , investing & lending results reflected an operating environment characterized by a significant decline in equity markets in europe and asia , and unfavorable credit markets that were negatively impacted by increased concerns regarding the weakened state of global economies , including heightened european sovereign debt risk .", "results for 2011 included a loss of $ 517 million from our investment in the ordinary shares of icbc and net gains of $ 1.12 billion from other investments in equities , primarily in private equities , partially offset by losses from public equities .", "in addition , investing & lending included net revenues of $ 96 million from debt securities and loans .", "this amount includes approximately $ 1 billion of unrealized losses related to relationship lending activities , including the effect of hedges , offset by net interest income and net gains from other debt securities and loans .", "results for 2011 also included other net revenues of $ 1.44 billion , principally related to our consolidated investment entities .", "results for 2010 included a gain of $ 747 million from our investment in the ordinary shares of icbc , a net gain of $ 2.69 billion from other investments in equities , a net gain of $ 2.60 billion from debt securities and loans and other net revenues of $ 1.51 billion , principally related to our consolidated investment entities .", "the net gain from other investments in equities was primarily driven by an increase in global equity markets , which resulted in appreciation of both our public and private equity positions and provided favorable conditions for initial public offerings .", "the net gains and net interest from debt securities and loans primarily reflected the impact of tighter credit spreads and favorable credit markets during the year , which provided favorable conditions for borrowers to refinance .", "operating expenses were $ 2.67 billion for 2011 , 20% ( 20 % ) lower than 2010 , due to decreased compensation and benefits expenses , primarily resulting from lower net revenues .", "this decrease was partially offset by the impact of impairment charges related to consolidated investments during 2011 .", "pre-tax loss was $ 531 million in 2011 , compared with pre-tax earnings of $ 4.18 billion in 2010 .", "investment management investment management provides investment management services and offers investment products ( primarily through separately managed accounts and commingled vehicles , such as mutual funds and private investment funds ) across all major asset classes to a diverse set of institutional and individual clients .", "investment management also offers wealth advisory services , including portfolio management and financial counseling , and brokerage and other transaction services to high-net-worth individuals and families .", "assets under supervision include assets under management and other client assets .", "assets under management include client assets where we earn a fee for managing assets on a discretionary basis .", "this includes net assets in our mutual funds , hedge funds , credit funds and private equity funds ( including real estate funds ) , and separately managed accounts for institutional and individual investors .", "other client assets include client assets invested with third-party managers , private bank deposits and assets related to advisory relationships where we earn a fee for advisory and other services , but do not have discretion over the assets .", "assets under supervision do not include the self-directed brokerage accounts of our clients .", "assets under management and other client assets typically generate fees as a percentage of net asset value , which vary by asset class and are affected by investment performance as well as asset inflows and redemptions .", "in certain circumstances , we are also entitled to receive incentive fees based on a percentage of a fund 2019s return or when the return exceeds a specified benchmark or other performance targets .", "incentive fees are recognized only when all material contingencies are resolved .", "the table below presents the operating results of our investment management segment. ." ]

[ "in millions the transaction revenues of year ended december 2012 is 416 ; the transaction revenues of year ended december 2011 is 523 ; the transaction revenues of year ended december 2010 is 531 ;", "in millions the total net revenues of year ended december 2012 is 5222 ; the total net revenues of year ended december 2011 is 5034 ; the total net revenues of year ended december 2010 is 5014 ;" ]

[ [ "in millions", "year ended december 2012", "year ended december 2011", "year ended december 2010" ], [ "management and other fees", "$ 4105", "$ 4188", "$ 3956" ], [ "incentive fees", "701", "323", "527" ], [ "transaction revenues", "416", "523", "531" ], [ "total net revenues", "5222", "5034", "5014" ], [ "operating expenses", "4294", "4020", "4082" ], [ "pre-tax earnings", "$ 928", "$ 1014", "$ 932" ] ]

[ "interest incurred increased $ .5 as interest expense associated with financing the lu'an joint venture was mostly offset by favorable impacts from currency , a lower average interest rate on the debt portfolio , and a lower average debt balance .", "capitalized interest decreased 31% ( 31 % ) , or $ 6.0 , due to a decrease in the carrying value of projects under construction , primarily driven by the lu'an project in asia .", "other non-operating income ( expense ) , net other non-operating income ( expense ) , net of $ 66.7 increased $ 61.6 , primarily due to lower pension settlement losses , higher non-service pension income , and higher interest income on cash and cash items .", "the prior year included pension settlement losses of $ 43.7 ( $ 33.2 after-tax , or $ .15 per share ) primarily in connection with the transfer of certain pension assets and payment obligations to an insurer for our u.s .", "salaried and hourly plans .", "in fiscal year 2019 , we recognized a pension settlement loss of $ 5.0 ( $ 3.8 after-tax , or $ .02 per share ) associated with the u.s .", "supplementary pension plan during the second quarter .", "net income and net income margin net income of $ 1809.4 increased 18% ( 18 % ) , or $ 276.5 , primarily due to impacts from the u.s .", "tax cuts and jobs act , positive pricing , and favorable volumes .", "net income margin of 20.3% ( 20.3 % ) increased 310 bp .", "adjusted ebitda and adjusted ebitda margin adjusted ebitda of $ 3468.0 increased 11% ( 11 % ) , or $ 352.5 , primarily due to positive pricing and higher volumes , partially offset by unfavorable currency .", "adjusted ebitda margin of 38.9% ( 38.9 % ) increased 400 bp , primarily due to higher volumes , positive pricing , and the india contract modification .", "the india contract modification contributed 80 bp .", "effective tax rate the effective tax rate equals the income tax provision divided by income from continuing operations before taxes .", "the effective tax rate was 21.0% ( 21.0 % ) and 26.0% ( 26.0 % ) in fiscal years 2019 and 2018 , respectively .", "the current year rate was lower primarily due to impacts related to the enactment of the u.s .", "tax cuts and jobs act ( the 201ctax act\" ) in 2018 , which significantly changed existing u.s .", "tax laws , including a reduction in the federal corporate income tax rate from 35% ( 35 % ) to 21% ( 21 % ) , a deemed repatriation tax on unremitted foreign earnings , as well as other changes .", "as a result of the tax act , our income tax provision reflects discrete net income tax costs of $ 43.8 and $ 180.6 in fiscal years 2019 and 2018 , respectively .", "the current year included a cost of $ 56.2 ( $ .26 per share ) for the reversal of a benefit recorded in 2018 related to the u.s .", "taxation of deemed foreign dividends .", "we recorded this reversal based on regulations issued in 2019 .", "the 2019 reversal was partially offset by a favorable adjustment of $ 12.4 ( $ .06 per share ) that was recorded as we completed our estimates of the impacts of the tax act .", "this adjustment is primarily related to foreign tax items , including the deemed repatriation tax for foreign tax redeterminations .", "in addition , the current year rate included a net gain on the exchange of two equity affiliates of $ 29.1 , which was not a taxable transaction .", "the higher 2018 expense resulting from the tax act was partially offset by a $ 35.7 tax benefit from the restructuring of foreign subsidiaries , a $ 9.1 benefit from a foreign audit settlement agreement , and higher excess tax benefits on share-based compensation .", "the adjusted effective tax rate was 19.4% ( 19.4 % ) and 18.6% ( 18.6 % ) in fiscal years 2019 and 2018 , respectively .", "the lower prior year rate was primarily due to the $ 9.1 benefit from a foreign audit settlement agreement and higher excess tax benefits on share-based compensation. ." ]

[ "interest expense ." ]

[ "the adjusted effective tax rate was 19.4% ( 19.4 % ) and 18.6% ( 18.6 % ) in fiscal years 2019 and 2018 , respectively ." ]

[ [ "", "2019", "2018" ], [ "interest incurred", "$ 150.5", "$ 150.0" ], [ "less : capitalized interest", "13.5", "19.5" ], [ "interest expense", "$ 137.0", "$ 130.5" ] ]

[ "the risk-free interest rate is based on the yield of a zero coupon united states treasury security with a maturity equal to the expected life of the option from the date of the grant .", "our assumption on expected volatility is based on our historical volatility .", "the dividend yield assumption is calculated using our average stock price over the preceding year and the annualized amount of our current quarterly dividend .", "since the purchase price for shares under the plan is based on the market value on the first day or last day of the quarterly purchase period , we use an expected life of three months to determine the fair value of each designated share. ." ]

[ "notes to consolidated financial statements 2014 ( continued ) the weighted average grant-date fair value of share awards granted in the years ended may 31 , 2007 and 2006 was $ 45 and $ 36 , respectively .", "the total fair value of share awards vested during the years ended may 31 , 2008 , 2007 and 2006 was $ 4.1 million , $ 1.7 million and $ 1.4 million , respectively .", "we recognized compensation expenses for restricted stock of $ 5.7 million , $ 2.7 million , and $ 1.6 million in the years ended may 31 , 2008 , 2007 and 2006 .", "as of may 31 , 2008 , there was $ 15.2 million of total unrecognized compensation cost related to unvested restricted stock awards that is expected to be recognized over a weighted average period of 2.9 years .", "employee stock purchase plan we have an employee stock purchase plan under which the sale of 2.4 million shares of our common stock has been authorized .", "employees may designate up to the lesser of $ 25 thousand or 20% ( 20 % ) of their annual compensation for the purchase of stock .", "for periods prior to october 1 , 2006 , the price for shares purchased under the plan was the lower of 85% ( 85 % ) of the market value on the first day or the last day of the quarterly purchase period .", "with the quarterly purchase period beginning on october 1 , 2006 , the price for shares purchased under the plan is 85% ( 85 % ) of the market value on the last day of the quarterly purchase period ( the 201cpurchase date 201d ) .", "at may 31 , 2008 , 0.7 million shares had been issued under this plan , with 1.7 million shares reserved for future issuance .", "the weighted average grant-date fair value of each designated share purchased under this plan was $ 6 , $ 8 and $ 8 in the years ended may 31 , 2008 , 2007 and 2006 , respectively .", "for the quarterly purchases after october 1 , 2006 , the fair value of each designated share purchased under the employee stock purchase plan is based on the 15% ( 15 % ) discount on the purchase date .", "for purchases prior to october 1 , 2006 , the fair value of each designated share purchased under the employee stock purchase plan was estimated on the date of grant using the black-scholes valuation model using the following weighted average assumptions: ." ]

[ "notes to consolidated financial statements 2014 ( continued ) the weighted average grant-date fair value of share awards granted in the years ended may 31 , 2007 and 2006 was $ 45 and $ 36 , respectively ." ]

[ [ "", "2007", "2006" ], [ "risk-free interest rates", "4.93% ( 4.93 % )", "3.72% ( 3.72 % )" ], [ "expected volatility", "37.02% ( 37.02 % )", "26.06% ( 26.06 % )" ], [ "dividend yields", "0.19% ( 0.19 % )", "0.34% ( 0.34 % )" ], [ "expected lives", "3 months", "3 months" ] ]

[ "approximately 4900 employees are represented by the international brotherhood of electrical workers union , the utility workers union of america , and the international brotherhood of teamsters union. ." ]

[ "part i item 1 entergy corporation , domestic utility companies , and system energy employment litigation ( entergy corporation , entergy arkansas , entergy gulf states , entergy louisiana , entergy mississippi , entergy new orleans , and system energy ) entergy corporation and the domestic utility companies are defendants in numerous lawsuits that have been filed by former employees alleging that they were wrongfully terminated and/or discriminated against on the basis of age , race , sex , and/or other protected characteristics .", "entergy corporation and the domestic utility companies are vigorously defending these suits and deny any liability to the plaintiffs .", "however , no assurance can be given as to the outcome of these cases , and at this time management cannot estimate the total amount of damages sought .", "included in the employment litigation are two cases filed in state court in claiborne county , mississippi in december 2002 .", "the two cases were filed by former employees of entergy operations who were based at grand gulf .", "entergy operations and entergy employees are named as defendants .", "the cases make employment-related claims , and seek in total $ 53 million in alleged actual damages and $ 168 million in punitive damages .", "entergy subsequently removed both proceedings to the federal district in jackson , mississippi .", "entergy cannot predict the ultimate outcome of this proceeding .", "research spending entergy is a member of the electric power research institute ( epri ) .", "epri conducts a broad range of research in major technical fields related to the electric utility industry .", "entergy participates in various epri projects based on entergy's needs and available resources .", "the domestic utility companies contributed $ 1.6 million in 2004 , $ 1.5 million in 2003 , and $ 2.1 million in 2002 to epri .", "the non-utility nuclear business contributed $ 3.2 million in 2004 and $ 3 million in both 2003 and 2002 to epri .", "employees employees are an integral part of entergy's commitment to serving its customers .", "as of december 31 , 2004 , entergy employed 14425 people .", "u.s .", "utility: ." ]

[ "entergy arkansas the entergy gulf states of 1494 is 1641 ;", "entergy arkansas the total full-time of 1494 is 14235 ;" ]

[ [ "entergy arkansas", "1494" ], [ "entergy gulf states", "1641" ], [ "entergy louisiana", "943" ], [ "entergy mississippi", "793" ], [ "entergy new orleans", "403" ], [ "system energy", "-" ], [ "entergy operations", "2735" ], [ "entergy services", "2704" ], [ "entergy nuclear operations", "3245" ], [ "other subsidiaries", "277" ], [ "total full-time", "14235" ], [ "part-time", "190" ], [ "total entergy", "14425" ] ]

[ "goodwill of $ 316.3 million , which is not deductible for tax purposes , primarily resulted from the company 2019s expectation of sales growth and cost synergies from the integration of magma 2019s technology and operations with the company 2019s technology and operations .", "identifiable intangible assets , consisting primarily of technology , customer relationships , backlog and trademarks , were valued using the income method , and are being amortized over three to ten years .", "acquisition-related costs directly attributable to the business combination totaling $ 33.5 million for fiscal 2012 were expensed as incurred in the consolidated statements of operations and consist primarily of employee separation costs , contract terminations , professional services , and facilities closure costs .", "fair value of equity awards assumed .", "the company assumed unvested restricted stock units ( rsus ) and stock options with a fair value of $ 22.2 million .", "the black-scholes option-pricing model was used to determine the fair value of these stock options , whereas the fair value of the rsus was based on the market price on the grant date of the instruments .", "the black-scholes option-pricing model incorporates various subjective assumptions including expected volatility , expected term and risk-free interest rates .", "the expected volatility was estimated by a combination of implied and historical stock price volatility of the options .", "of the total fair value of the equity awards assumed , $ 6.8 million was allocated to the purchase consideration and $ 15.4 million was allocated to future services to be expensed over their remaining service periods on a straight-line basis .", "supplemental pro forma information ( unaudited ) .", "the financial information in the table below summarizes the combined results of operations of the company and magma , on a pro forma basis , as though the companies had been combined as of the beginning of fiscal 2011. ." ]

[ "synopsys , inc .", "notes to consolidated financial statements 2014continued acquisition of magma design automation , inc .", "( magma ) on february 22 , 2012 , the company acquired all outstanding shares of magma , a chip design software provider , at a per-share price of $ 7.35 .", "additionally , the company assumed unvested restricted stock units ( rsus ) and stock options , collectively called 201cequity awards . 201d the aggregate purchase price was approximately $ 550.2 million .", "this acquisition enables the company to more rapidly meet the needs of leading-edge semiconductor designers for more sophisticated design tools .", "as of october 31 , 2012 , the total purchase consideration and the preliminary purchase price allocation were as follows: ." ]

[ "the identifiable intangibles assets acquired of ( in thousands ) is 184300 ;", "the total purchase allocation of ( in thousands ) is $ 550234 ;" ]

[ [ "", "( in thousands )" ], [ "cash paid", "$ 543437" ], [ "fair value of assumed equity awards allocated to purchase consideration", "6797" ], [ "total purchase consideration", "$ 550234" ], [ "goodwill", "316263" ], [ "identifiable intangibles assets acquired", "184300" ], [ "cash and other assets acquired", "116265" ], [ "debt and liabilities assumed", "-66594 ( 66594 )" ], [ "total purchase allocation", "$ 550234" ] ]

[ "." ]

[ "apple inc .", "| 2018 form 10-k | 20 company stock performance the following graph shows a comparison of cumulative total shareholder return , calculated on a dividend-reinvested basis , for the company , the s&p 500 index , the s&p information technology index and the dow jones u.s .", "technology supersector index for the five years ended september 29 , 2018 .", "the graph assumes $ 100 was invested in each of the company 2019s common stock , the s&p 500 index , the s&p information technology index and the dow jones u.s .", "technology supersector index as of the market close on september 27 , 2013 .", "note that historic stock price performance is not necessarily indicative of future stock price performance .", "* $ 100 invested on september 27 , 2013 in stock or index , including reinvestment of dividends .", "data points are the last day of each fiscal year for the company 2019s common stock and september 30th for indexes .", "copyright a9 2018 standard & poor 2019s , a division of s&p global .", "all rights reserved .", "copyright a9 2018 s&p dow jones indices llc , a division of s&p global .", "all rights reserved .", "september september september september september september ." ]

[ "the apple inc . of september2013 is $ 100 ; the apple inc . of september2014 is $ 149 ; the apple inc . of september2015 is $ 173 ; the apple inc . of september2016 is $ 174 ; the apple inc . of september2017 is $ 242 ; the apple inc . of september2018 is $ 359 ;", "the s&p information technology index of september2013 is $ 100 ; the s&p information technology index of september2014 is $ 129 ; the s&p information technology index of september2015 is $ 132 ; the s&p information technology index of september2016 is $ 162 ; the s&p information technology index of september2017 is $ 209 ; the s&p information technology index of september2018 is $ 275 ;" ]

[ [ "", "september2013", "september2014", "september2015", "september2016", "september2017", "september2018" ], [ "apple inc .", "$ 100", "$ 149", "$ 173", "$ 174", "$ 242", "$ 359" ], [ "s&p 500 index", "$ 100", "$ 120", "$ 119", "$ 137", "$ 163", "$ 192" ], [ "s&p information technology index", "$ 100", "$ 129", "$ 132", "$ 162", "$ 209", "$ 275" ], [ "dow jones u.s . technology supersector index", "$ 100", "$ 130", "$ 130", "$ 159", "$ 203", "$ 266" ] ]

[ "transportation and storage costs incurred under these agreements totaled $ 140.5 million , $ 135.1 million and $ 137.7 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively .", "these amounts do not include contractual commitments under our long-term transportation agreements with hep , as all transactions with hep are eliminated in these consolidated financial statements .", "we have a crude oil supply contract that requires the supplier to deliver a specified volume of crude oil or pay a shortfall fee for the difference in the actual barrels delivered to us less the specified barrels per the supply contract .", "for the contract year ended august 31 , 2017 , the actual number of barrels delivered to us was substantially less than the specified barrels , and we recorded a reduction to cost of goods sold and accumulated a shortfall fee receivable of $ 26.0 million during this period .", "in september 2017 , the supplier notified us they are disputing the shortfall fee owed and in october 2017 notified us of their demand for arbitration .", "we offset the receivable with payments of invoices for deliveries of crude oil received subsequent to august 31 , 2017 , which is permitted under the supply contract .", "we believe the disputes and claims made by the supplier are without merit .", "in march , 2006 , a subsidiary of ours sold the assets of montana refining company under an asset purchase agreement ( 201capa 201d ) .", "calumet montana refining llc , the current owner of the assets , has submitted requests for reimbursement of approximately $ 20.0 million pursuant to contractual indemnity provisions under the apa for various costs incurred , as well as additional claims related to environmental matters .", "we have rejected most of the claims for payment , and this matter is scheduled for arbitration beginning in july 2018 .", "we have accrued the costs we believe are owed pursuant to the apa , and we estimate that any reasonably possible losses beyond the amounts accrued are not material .", "note 20 : segment information effective fourth quarter of 2017 , we revised our reportable segments to align with certain changes in how our chief operating decision maker manages and allocates resources to our business .", "accordingly , our tulsa refineries 2019 lubricants operations , previously reported in the refining segment , are now combined with the operations of our petro-canada lubricants business ( acquired february 1 , 2017 ) and reported in the lubricants and specialty products segment .", "our prior period segment information has been retrospectively adjusted to reflect our current segment presentation .", "our operations are organized into three reportable segments , refining , lubricants and specialty products and hep .", "our operations that are not included in the refining , lubricants and specialty products and hep segments are included in corporate and other .", "intersegment transactions are eliminated in our consolidated financial statements and are included in eliminations .", "corporate and other and eliminations are aggregated and presented under corporate , other and eliminations column .", "the refining segment represents the operations of the el dorado , tulsa , navajo , cheyenne and woods cross refineries and hfc asphalt ( aggregated as a reportable segment ) .", "refining activities involve the purchase and refining of crude oil and wholesale and branded marketing of refined products , such as gasoline , diesel fuel and jet fuel .", "these petroleum products are primarily marketed in the mid-continent , southwest and rocky mountain regions of the united states .", "hfc asphalt operates various asphalt terminals in arizona , new mexico and oklahoma. ." ]

[ "hollyfrontier corporation notes to consolidated financial statements continued ." ]

[ "the thereafter of ( in thousands ) is 857454 ;", "the total of ( in thousands ) is $ 1468640 ;", "hollyfrontier corporation notes to consolidated financial statements continued ." ]

[ [ "", "( in thousands )" ], [ "2018", "$ 148716" ], [ "2019", "132547" ], [ "2020", "119639" ], [ "2021", "107400" ], [ "2022", "102884" ], [ "thereafter", "857454" ], [ "total", "$ 1468640" ] ]

[ "balance as of january 1 , 2017 .", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", "$ 140 actual return on assets .", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", "2 purchases , issuances and settlements , net .", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", "136 balance as of december 31 , 2017 .", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", "$ 278 the company 2019s postretirement benefit plans have different levels of funded status and the assets are held under various trusts .", "the investments and risk mitigation strategies for the plans are tailored specifically for each trust .", "in setting new strategic asset mixes , consideration is given to the likelihood that the selected asset allocation will effectively fund the projected plan liabilities and meet the risk tolerance criteria of the company .", "the company periodically updates the long-term , strategic asset allocations for these plans through asset liability studies and uses various analytics to determine the optimal asset allocation .", "considerations include plan liability characteristics , liquidity needs , funding requirements , expected rates of return and the distribution of returns .", "in 2012 , the company implemented a de-risking strategy for the american water pension plan after conducting an asset-liability study to reduce the volatility of the funded status of the plan .", "as part of the de-risking strategy , the company revised the asset allocations to increase the matching characteristics of fixed- income assets relative to liabilities .", "the fixed income portion of the portfolio was designed to match the bond- ." ]

[ "asset category target allocation total quoted prices in active markets for identical assets ( level 1 ) significant observable inputs ( level 2 ) significant unobservable inputs ." ]

[ "the balance as of december 31 2018 of level 3 is $ 230 ;", "the balance as of january 1 2018 of level 3 is $ 278 ;" ]

[ [ "", "level 3" ], [ "balance as of january 1 2018", "$ 278" ], [ "actual return on assets", "-23 ( 23 )" ], [ "purchases issuances and settlements net", "-25 ( 25 )" ], [ "balance as of december 31 2018", "$ 230" ] ]

[ "as of december 31 , 2018 , we did not have any fuel hedging contracts outstanding to hedge our fuel consumption .", "as such , and assuming we do not enter into any future transactions to hedge our fuel consumption , we will continue to be fully exposed to fluctuations in fuel prices .", "our current policy is not to enter into transactions to hedge our fuel consumption , although we review that policy from time to time based on market conditions and other factors .", "fuel prices have fluctuated substantially over the past several years .", "we cannot predict the future availability , price volatility or cost of aircraft fuel .", "natural disasters ( including hurricanes or similar events in the u.s .", "southeast and on the gulf coast where a significant portion of domestic refining capacity is located ) , political disruptions or wars involving oil-producing countries , economic sanctions imposed against oil-producing countries or specific industry participants , changes in fuel-related governmental policy , the strength of the u.s .", "dollar against foreign currencies , changes in the cost to transport or store petroleum products , changes in access to petroleum product pipelines and terminals , speculation in the energy futures markets , changes in aircraft fuel production capacity , environmental concerns and other unpredictable events may result in fuel supply shortages , distribution challenges , additional fuel price volatility and cost increases in the future .", "see part i , item 1a .", "risk factors 2013 201cour business is very dependent on the price and availability of aircraft fuel .", "continued periods of high volatility in fuel costs , increased fuel prices or significant disruptions in the supply of aircraft fuel could have a significant negative impact on our operating results and liquidity . 201d seasonality and other factors due to the greater demand for air travel during the summer months , revenues in the airline industry in the second and third quarters of the year tend to be greater than revenues in the first and fourth quarters of the year .", "general economic conditions , fears of terrorism or war , fare initiatives , fluctuations in fuel prices , labor actions , weather , natural disasters , outbreaks of disease and other factors could impact this seasonal pattern .", "therefore , our quarterly results of operations are not necessarily indicative of operating results for the entire year , and historical operating results in a quarterly or annual period are not necessarily indicative of future operating results .", "domestic and global regulatory landscape general airlines are subject to extensive domestic and international regulatory requirements .", "domestically , the dot and the federal aviation administration ( faa ) exercise significant regulatory authority over air carriers .", "the dot , among other things , oversees domestic and international codeshare agreements , international route authorities , competition and consumer protection matters such as advertising , denied boarding compensation and baggage liability .", "the antitrust division of the department of justice ( doj ) , along with the dot in certain instances , have jurisdiction over airline antitrust matters. ." ]

[ "the following table shows annual aircraft fuel consumption and costs , including taxes , for our mainline and regional operations for 2018 , 2017 and 2016 ( gallons and aircraft fuel expense in millions ) .", "year gallons average price per gallon aircraft fuel expense percent of total operating expenses ." ]

[ "year the 2018 of gallons is 4447 ; the 2018 of average priceper gallon is $ 2.23 ; the 2018 of aircraft fuelexpense is $ 9896 ; the 2018 of percent of totaloperating expenses is 23.6% ( 23.6 % ) ;" ]

[ [ "year", "gallons", "average priceper gallon", "aircraft fuelexpense", "percent of totaloperating expenses" ], [ "2018", "4447", "$ 2.23", "$ 9896", "23.6% ( 23.6 % )" ], [ "2017", "4352", "1.73", "7510", "19.6% ( 19.6 % )" ], [ "2016", "4347", "1.42", "6180", "17.6% ( 17.6 % )" ] ]

[ "these products are often offered to employer groups as 201cbundles 201d , where the subscribers are offered various hmo and ppo options , with various employer contribution strategies as determined by the employer .", "paramount to our product strategy , we have developed a group of innovative consumer products , styled as 201csmart 201d products , that we believe will be a long-term solution for employers .", "we believe this new generation of products provides more ( 1 ) choices for the individual consumer , ( 2 ) transparency of provider costs , and ( 3 ) benefit designs that engage consumers in the costs and effectiveness of health care choices .", "innovative tools and technology are available to assist consumers with these decisions , including the trade-offs between higher premiums and point-of-service costs at the time consumers choose their plans , and to suggest ways in which the consumers can maximize their individual benefits at the point they use their plans .", "we believe that when consumers can make informed choices about the cost and effectiveness of their health care , a sustainable long term solution for employers can be realized .", "smart products , which accounted for approximately 55% ( 55 % ) of enrollment in all of our consumer-choice plans as of december 31 , 2007 , are only sold to employers who use humana as their sole health insurance carrier .", "some employers have selected other types of consumer-choice products , such as , ( 1 ) a product with a high deductible , ( 2 ) a catastrophic coverage plan , or ( 3 ) ones that offer a spending account option in conjunction with more traditional medical coverage or as a stand alone plan .", "unlike our smart products , these products , while valuable in helping employers deal with near-term cost increases by shifting costs to employees , are not considered by us to be long-term comprehensive solutions to the employers 2019 cost dilemma , although we view them as an important interim step .", "our commercial hmo products provide prepaid health insurance coverage to our members through a network of independent primary care physicians , specialty physicians , and other health care providers who ." ]

[ "we participate in a medicare health support pilot program through green ribbon health , or grh , a joint- venture company with pfizer health solutions inc .", "grh is designed to support medicare beneficiaries living with diabetes and/or congestive heart failure in central florida .", "grh uses disease management initiatives including evidence-based clinical guidelines , personal self-directed change strategies , and personal nurses to help participants navigate the health system .", "revenues under the contract with cms , which expires october 31 , 2008 unless terminated earlier , are subject to refund unless a savings target is met .", "to date , all revenues have been deferred until reliable estimates are determinable .", "our products marketed to commercial segment employers and members smart plans and other consumer products over the last several years , we have developed and offered various commercial products designed to provide options and choices to employers that are annually facing substantial premium increases driven by double-digit medical cost inflation .", "these smart plans , discussed more fully below , and other consumer offerings , which can be offered on either a fully-insured or aso basis , provided coverage to approximately 564700 members at december 31 , 2007 , representing approximately 16.4% ( 16.4 % ) of our total commercial medical membership as detailed below .", "smart plans and other consumer membership other commercial membership commercial medical membership ." ]

[ "the fully-insured of smart plans and other consumer membership is 327900 ; the fully-insured of other commercial membership is 1480700 ; the fully-insured of commercial medical membership is 1808600 ;", "the total commercial medical of smart plans and other consumer membership is 564700 ; the total commercial medical of other commercial membership is 2886900 ; the total commercial medical of commercial medical membership is 3451600 ;" ]

[ [ "", "smart plans and other consumer membership", "other commercial membership", "commercial medical membership" ], [ "fully-insured", "327900", "1480700", "1808600" ], [ "aso", "236800", "1406200", "1643000" ], [ "total commercial medical", "564700", "2886900", "3451600" ] ]

[ "the total cross-border outstandings presented in the table represented 12% ( 12 % ) , 9% ( 9 % ) and 11% ( 11 % ) of our consolidated total assets as of december 31 , 2007 , 2006 and 2005 , respectively .", "there were no cross- border outstandings to countries which totaled between .75% ( .75 % ) and 1% ( 1 % ) of our consolidated total assets as of december 31 , 2007 .", "aggregate cross-border outstandings to countries which totaled between .75% ( .75 % ) and 1% ( 1 % ) of our consolidated total assets at december 31 , 2006 , amounted to $ 1.05 billion ( canada ) and at december 31 , 2005 , amounted to $ 1.86 billion ( belgium and japan ) .", "capital regulatory and economic capital management both use key metrics evaluated by management to ensure that our actual level of capital is commensurate with our risk profile , is in compliance with all regulatory requirements , and is sufficient to provide us with the financial flexibility to undertake future strategic business initiatives .", "regulatory capital our objective with respect to regulatory capital management is to maintain a strong capital base in order to provide financial flexibility for our business needs , including funding corporate growth and supporting customers 2019 cash management needs , and to provide protection against loss to depositors and creditors .", "we strive to maintain an optimal level of capital , commensurate with our risk profile , on which an attractive return to shareholders will be realized over both the short and long term , while protecting our obligations to depositors and creditors and satisfying regulatory requirements .", "our capital management process focuses on our risk exposures , our capital position relative to our peers , regulatory capital requirements and the evaluations of the major independent credit rating agencies that assign ratings to our public debt .", "the capital committee , working in conjunction with the asset and liability committee , referred to as 2018 2018alco , 2019 2019 oversees the management of regulatory capital , and is responsible for ensuring capital adequacy with respect to regulatory requirements , internal targets and the expectations of the major independent credit rating agencies .", "the primary regulator of both state street and state street bank for regulatory capital purposes is the federal reserve board .", "both state street and state street bank are subject to the minimum capital requirements established by the federal reserve board and defined in the federal deposit insurance corporation improvement act of 1991 .", "state street bank must meet the regulatory capital thresholds for 2018 2018well capitalized 2019 2019 in order for the parent company to maintain its status as a financial holding company. ." ]

[ "cross-border outstandings to countries in which we do business which amounted to at least 1% ( 1 % ) of our consolidated total assets were as follows as of december 31 : 2007 2006 2005 ( in millions ) ." ]

[ "( in millions ) the total cross-border outstandings of 2007 is $ 17027 ; the total cross-border outstandings of 2006 is $ 9746 ; the total cross-border outstandings of 2005 is $ 10809 ;", "the total cross-border outstandings presented in the table represented 12% ( 12 % ) , 9% ( 9 % ) and 11% ( 11 % ) of our consolidated total assets as of december 31 , 2007 , 2006 and 2005 , respectively ." ]

[ [ "( in millions )", "2007", "2006", "2005" ], [ "united kingdom", "$ 5951", "$ 5531", "$ 2696" ], [ "canada", "4565", "2014", "1463" ], [ "australia", "3567", "1519", "1441" ], [ "netherlands", "2014", "2014", "992" ], [ "germany", "2944", "2696", "4217" ], [ "total cross-border outstandings", "$ 17027", "$ 9746", "$ 10809" ] ]

[ "segment results 20142009 compared to 2008 in 2009 , the segment 2019s net sales were $ 7.0 billion , a decrease of 13% ( 13 % ) compared to net sales of $ 8.1 billion in 2008 .", "the 13% ( 13 % ) decrease in net sales reflects a 21% ( 21 % ) decrease in net sales to the commercial enterprise market and a 10% ( 10 % ) decrease in net sales to the government and public safety market .", "the decrease in net sales to the commercial enterprise market reflects decreased net sales in all regions .", "the decrease in net sales to the government and public safety market was primarily driven by decreased net sales in emea , north america and latin america , partially offset by higher net sales in asia .", "the segment 2019s overall net sales were lower in north america , emea and latin america and higher in asia the segment had operating earnings of $ 1.1 billion in 2009 , a decrease of 29% ( 29 % ) compared to operating earnings of $ 1.5 billion in 2008 .", "the decrease in operating earnings was primarily due to a decrease in gross margin , driven by the 13% ( 13 % ) decrease in net sales and an unfavorable product mix .", "also contributing to the decrease in operating earnings was an increase in reorganization of business charges , relating primarily to higher employee severance costs .", "these factors were partially offset by decreased sg&a expenses and r&d expenditures , primarily related to savings from cost-reduction initiatives .", "as a percentage of net sales in 2009 as compared 2008 , gross margin decreased and r&d expenditures and sg&a expenses increased .", "net sales in north america continued to comprise a significant portion of the segment 2019s business , accounting for approximately 58% ( 58 % ) of the segment 2019s net sales in 2009 , compared to approximately 57% ( 57 % ) in 2008 .", "the regional shift in 2009 as compared to 2008 reflects a 16% ( 16 % ) decline in net sales outside of north america and a 12% ( 12 % ) decline in net sales in north america .", "the segment 2019s backlog was $ 2.4 billion at both december 31 , 2009 and december 31 , 2008 .", "in our government and public safety market , we see a continued emphasis on mission-critical communication and homeland security solutions .", "in 2009 , we led market innovation through the continued success of our mototrbo line and the delivery of the apx fffd family of products .", "while spending by end customers in the segment 2019s government and public safety market is affected by government budgets at the national , state and local levels , we continue to see demand for large-scale mission critical communications systems .", "in 2009 , we had significant wins across the globe , including several city and statewide communications systems in the united states , and continued success winning competitive projects with our tetra systems in europe , the middle east ." ]

[ "management 2019s discussion and analysis of financial condition and results of operations in 2008 , sales to the segment 2019s top five customers represented approximately 45% ( 45 % ) of the segment 2019s net sales .", "the segment 2019s backlog was $ 2.3 billion at december 31 , 2008 , compared to $ 2.6 billion at december 31 , 2007 .", "in 2008 , our digital video customers significantly increased their purchases of the segment 2019s products and services , primarily due to increased demand for digital entertainment devices , particularly ip and hd/dvr devices .", "in february 2008 , the segment acquired the assets related to digital cable set-top products of zhejiang dahua digital technology co. , ltd and hangzhou image silicon ( known collectively as dahua digital ) , a developer , manufacturer and marketer of cable set-tops and related low-cost integrated circuits for the emerging chinese cable business .", "the acquisition helped the segment strengthen its position in the rapidly growing cable market in china .", "enterprise mobility solutions segment the enterprise mobility solutions segment designs , manufactures , sells , installs and services analog and digital two-way radios , wireless lan and security products , voice and data communications products and systems for private networks , wireless broadband systems and end-to-end enterprise mobility solutions to a wide range of customers , including government and public safety agencies ( which , together with all sales to distributors of two-way communication products , are referred to as the 2018 2018government and public safety market 2019 2019 ) , as well as retail , energy and utilities , transportation , manufacturing , healthcare and other commercial customers ( which , collectively , are referred to as the 2018 2018commercial enterprise market 2019 2019 ) .", "in 2009 , the segment 2019s net sales represented 32% ( 32 % ) of the company 2019s consolidated net sales , compared to 27% ( 27 % ) in 2008 and 21% ( 21 % ) in 2007 .", "years ended december 31 percent change ( dollars in millions ) 2009 2008 2007 2009 20142008 2008 20142007 ." ]

[ "( dollars in millions ) the segment net sales of years ended december 31 2009 is $ 7008 ; the segment net sales of years ended december 31 2008 is $ 8093 ; the segment net sales of years ended december 31 2007 is $ 7729 ; the segment net sales of years ended december 31 2009 20142008 is ( 13 ) % ( % ) ; the segment net sales of 2008 20142007 is 5% ( 5 % ) ;", "in 2009 , the segment 2019s net sales represented 32% ( 32 % ) of the company 2019s consolidated net sales , compared to 27% ( 27 % ) in 2008 and 21% ( 21 % ) in 2007 ." ]

[ [ "( dollars in millions )", "years ended december 31 2009", "years ended december 31 2008", "years ended december 31 2007", "years ended december 31 2009 20142008", "2008 20142007" ], [ "segment net sales", "$ 7008", "$ 8093", "$ 7729", "( 13 ) % ( % )", "5% ( 5 % )" ], [ "operating earnings", "1057", "1496", "1213", "( 29 ) % ( % )", "23% ( 23 % )" ] ]

[ "." ]

[ "federal realty investment trust schedule iii summary of real estate and accumulated depreciation 2014continued three years ended december 31 , 2010 reconciliation of accumulated depreciation and amortization ( in thousands ) ." ]

[ "balance december 31 2007 the additions during period 2014depreciation and amortization expense of $ 756703 is 103698 ;", "balance december 31 2007 the deductions during period 2014disposition and retirements of property of $ 756703 is -11869 ( 11869 ) ;" ]

[ [ "balance december 31 2007", "$ 756703" ], [ "additions during period 2014depreciation and amortization expense", "101321" ], [ "deductions during period 2014disposition and retirements of property", "-11766 ( 11766 )" ], [ "balance december 31 2008", "846258" ], [ "additions during period 2014depreciation and amortization expense", "103698" ], [ "deductions during period 2014disposition and retirements of property", "-11869 ( 11869 )" ], [ "balance december 31 2009", "938087" ], [ "additions during period 2014depreciation and amortization expense", "108261" ], [ "deductions during period 2014disposition and retirements of property", "-11144 ( 11144 )" ], [ "balance december 31 2010", "$ 1035204" ] ]

[ "______________________________ ( 1 ) goodwill consists of expected revenue and operating synergies resulting from the acquisition .", "none of the goodwill is deductible for income tax purposes .", "( 2 ) includes a $ 23 million indemnity receivable for uncertain tax positions related to the acquisition .", "transaction related costs of $ 3 million were expensed as incurred to selling , general and administrative expenses in the consolidated statements of operations .", "the amount of pro forma net earnings ( loss ) of softer included in the company's consolidated statement of operations was approximately 2% ( 2 % ) ( unaudited ) of its consolidated net earnings ( loss ) had the acquisition occurred as of the beginning of 2016 .", "the amount of softer net earnings ( loss ) consolidated by the company since the acquisition date was not material. ." ]

[ "table of contents 4 .", "acquisitions , dispositions and plant closures acquisitions 2022 so.f.ter .", "s.p.a .", "on december 1 , 2016 , the company acquired 100% ( 100 % ) of the stock of the forli , italy based so.f.ter .", "s.p.a .", "( \"softer\" ) , a leading thermoplastic compounder .", "the acquisition of softer increases the company's global engineered materials product platforms , extends the operational model , technical and industry solutions capabilities and expands project pipelines .", "the acquisition was accounted for as a business combination and the acquired operations are included in the advanced engineered materials segment .", "pro forma financial information since the respective acquisition date has not been provided as the acquisition did not have a material impact on the company's financial information .", "the company allocated the purchase price of the acquisition to identifiable assets acquired and liabilities assumed based on their estimated fair values as of the acquisition date .", "the excess of the purchase price over the aggregate fair values was recorded as goodwill ( note 2 and note 11 ) .", "the company calculated the fair value of the assets acquired using the income , market , or cost approach ( or a combination thereof ) .", "fair values were determined based on level 3 inputs ( note 2 ) including estimated future cash flows , discount rates , royalty rates , growth rates , sales projections , retention rates and terminal values , all of which require significant management judgment and are susceptible to change .", "the purchase price allocation is based upon preliminary information and is subject to change if additional information about the facts and circumstances that existed at the acquisition date becomes available .", "the final fair value of the net assets acquired may result in adjustments to the assets and liabilities , including goodwill .", "however , any subsequent measurement period adjustments are not expected to have a material impact on the company's results of operations .", "the preliminary purchase price allocation for the softer acquisition is as follows : december 1 , 2016 ( in $ millions ) ." ]

[ "the property plant and equipment net of as ofdecember 1 2016 ( in $ millions ) is 68 ;", "the total fair value of assets acquired of as ofdecember 1 2016 ( in $ millions ) is 408 ;" ]

[ [ "", "as ofdecember 1 2016 ( in $ millions )" ], [ "cash and cash equivalents", "11" ], [ "trade receivables - third party and affiliates", "53" ], [ "inventories", "58" ], [ "property plant and equipment net", "68" ], [ "intangible assets ( note 11 )", "79" ], [ "goodwill ( note 11 ) ( 1 )", "106" ], [ "other assets ( 2 )", "33" ], [ "total fair value of assets acquired", "408" ], [ "trade payables - third party and affiliates", "-41 ( 41 )" ], [ "total debt ( note 14 )", "-103 ( 103 )" ], [ "deferred income taxes", "-30 ( 30 )" ], [ "other liabilities", "-45 ( 45 )" ], [ "total fair value of liabilities assumed", "-219 ( 219 )" ], [ "net assets acquired", "189" ] ]

[ "the amounts listed above are the minimum obligations required to be paid under the company 2019s sponsorship and other marketing agreements .", "the amounts listed above do not include additional performance incentives and product supply obligations provided under certain agreements .", "it is not possible to determine how much the company will spend on product supply obligations on an annual basis as contracts generally do not stipulate specific cash amounts to be spent on products .", "the amount of product provided to the sponsorships depends on many factors including general playing conditions , the number of sporting events in which they participate and the company 2019s decisions regarding product and marketing initiatives .", "in addition , the costs to design , develop , source and purchase the products furnished to the endorsers are incurred over a period of time and are not necessarily tracked separately from similar costs incurred for products sold to customers .", "the company is , from time to time , involved in routine legal matters incidental to its business .", "the company believes that the ultimate resolution of any such current proceedings and claims will not have a material adverse effect on its consolidated financial position , results of operations or cash flows .", "in connection with various contracts and agreements , the company has agreed to indemnify counterparties against certain third party claims relating to the infringement of intellectual property rights and other items .", "generally , such indemnification obligations do not apply in situations in which the counterparties are grossly negligent , engage in willful misconduct , or act in bad faith .", "based on the company 2019s historical experience and the estimated probability of future loss , the company has determined that the fair value of such indemnifications is not material to its consolidated financial position or results of operations .", "9 .", "stockholders 2019 equity the company 2019s class a common stock and class b convertible common stock have an authorized number of shares of 100.0 million shares and 11.3 million shares , respectively , and each have a par value of $ 0.0003 1/3 per share .", "holders of class a common stock and class b convertible common stock have identical rights , including liquidation preferences , except that the holders of class a common stock are entitled to one vote per share and holders of class b convertible common stock are entitled to 10 votes per share on all matters submitted to a stockholder vote .", "class b convertible common stock may only be held by kevin plank ." ]

[ "operating lease agreements .", "included in these amounts was contingent rent expense of $ 3.6 million , $ 2.0 million and $ 0.6 million for the years ended december 31 , 2011 , 2010 and 2009 , respectively .", "the operating lease obligations included above do not include any contingent rent .", "sponsorships and other marketing commitments within the normal course of business , the company enters into contractual commitments in order to promote the company 2019s brand and products .", "these commitments include sponsorship agreements with teams and athletes on the collegiate and professional levels , official supplier agreements , athletic event sponsorships and other marketing commitments .", "the following is a schedule of the company 2019s future minimum payments under its sponsorship and other marketing agreements as of december 31 , 2011 : ( in thousands ) ." ]

[ "included in these amounts was contingent rent expense of $ 3.6 million , $ 2.0 million and $ 0.6 million for the years ended december 31 , 2011 , 2010 and 2009 , respectively ." ]

[ [ "2012", "$ 52855" ], [ "2013", "46910" ], [ "2014", "42514" ], [ "2015", "22689" ], [ "2016", "3580" ], [ "2017 and thereafter", "966" ], [ "total future minimum sponsorship and other marketing payments", "$ 169514" ] ]

[ "as part of the purchase price allocation , all intangible assets that were a part of the acquisition were identified and valued .", "it was determined that only customer relationship , trade name and developed technology and know-how had separately identifiable values .", "the fair value of these intangible assets was determined through the application of the income approach .", "customer relationship represents a large customer base that is expected to purchase the disposable mammopad product on a regular basis .", "trade name represents the ." ]

[ "hologic , inc .", "notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) fiscal 2007 acquisition : acquisition of biolucent , inc .", "on september 18 , 2007 the company completed the acquisition of biolucent , inc .", "( 201cbiolucent 201d ) pursuant to a definitive agreement dated june 20 , 2007 .", "the results of operations for biolucent have been included in the company 2019s consolidated financial statements from the date of acquisition as part of its mammography/breast care business segment .", "the company has concluded that the acquisition of biolucent does not represent a material business combination and therefore no pro forma financial information has been provided herein .", "biolucent , previously located in aliso viejo , california , develops , markets and sells mammopad breast cushions to decrease the discomfort associated with mammography .", "prior to the acquisition , biolucent 2019s primary research and development efforts were directed at its brachytherapy business which was focused on breast cancer therapy .", "prior to the acquisition , biolucent spun-off its brachytherapy technology and business to the holders of biolucent 2019s outstanding shares of capital stock .", "as a result , the company only acquired biolucent 2019s mammopad cushion business and related assets .", "the company invested $ 1000 directly in the spun-off brachytherapy business in exchange for shares of preferred stock issued by the new business .", "the aggregate purchase price for biolucent was approximately $ 73200 , consisting of approximately $ 6800 in cash and 2314 shares of hologic common stock valued at approximately $ 63200 , debt assumed and paid off of approximately $ 1600 and approximately $ 1600 for acquisition related fees and expenses .", "the company determined the fair value of the shares issued in connection with the acquisition in accordance with eitf issue no .", "99-12 , determination of the measurement date for the market price of acquirer securities issued in a purchase business combination .", "the acquisition also provides for up to two annual earn-out payments not to exceed $ 15000 in the aggregate based on biolucent 2019s achievement of certain revenue targets .", "the company has considered the provision of eitf issue no .", "95-8 , accounting for contingent consideration paid to the shareholders of an acquired enterprise in a purchase business combination , and concluded that this contingent consideration will represent additional purchase price .", "as a result , goodwill will be increased by the amount of the additional consideration , if any , when it becomes due and payable .", "as of september 27 , 2008 , the company has not recorded any amounts for these potential earn-outs .", "the allocation of the purchase price is based upon estimates of the fair value of assets acquired and liabilities assumed as of september 18 , 2007 .", "the components and allocation of the purchase price consists of the following approximate amounts: ." ]

[ "the aggregate purchase price for biolucent was approximately $ 73200 , consisting of approximately $ 6800 in cash and 2314 shares of hologic common stock valued at approximately $ 63200 , debt assumed and paid off of approximately $ 1600 and approximately $ 1600 for acquisition related fees and expenses ." ]

[ [ "net tangible assets acquired as of september 18 2007", "$ 2800" ], [ "developed technology and know how", "12300" ], [ "customer relationship", "17000" ], [ "trade name", "2800" ], [ "deferred income tax liabilities net", "-9500 ( 9500 )" ], [ "goodwill", "47800" ], [ "final purchase price", "$ 73200" ] ]

[ "." ]

[ "edwards lifesciences corporation notes to consolidated financial statements ( continued ) 12 .", "common stock ( continued ) the company also maintains the nonemployee directors stock incentive compensation program ( the 2018 2018nonemployee directors program 2019 2019 ) .", "under the nonemployee directors program , each nonemployee director may receive annually up to 10000 stock options or 4000 restricted stock units of the company 2019s common stock , or a combination thereof , provided that in no event may the total value of the combined annual award exceed $ 0.2 million .", "additionally , each nonemployee director may elect to receive all or a portion of the annual cash retainer to which the director is otherwise entitled through the issuance of stock options or restricted stock units .", "each option and restricted stock unit award granted in 2011 or prior generally vests in three equal annual installments .", "each option and restricted stock unit award granted after 2011 generally vests after one year .", "upon a director 2019s initial election to the board , the director receives an initial grant of restricted stock units equal to a fair market value on grant date of $ 0.2 million , not to exceed 10000 shares .", "these grants vest over three years from the date of grant .", "under the nonemployee directors program , an aggregate of 1.4 million shares of the company 2019s common stock has been authorized for issuance .", "the company has an employee stock purchase plan for united states employees and a plan for international employees ( collectively 2018 2018espp 2019 2019 ) .", "under the espp , eligible employees may purchase shares of the company 2019s common stock at 85% ( 85 % ) of the lower of the fair market value of edwards lifesciences common stock on the effective date of subscription or the date of purchase .", "under the espp , employees can authorize the company to withhold up to 12% ( 12 % ) of their compensation for common stock purchases , subject to certain limitations .", "the espp is available to all active employees of the company paid from the united states payroll and to eligible employees of the company outside the united states to the extent permitted by local law .", "the espp for united states employees is qualified under section 423 of the internal revenue code .", "the number of shares of common stock authorized for issuance under the espp was 6.6 million shares .", "the fair value of each option award and employee stock purchase subscription is estimated on the date of grant using the black-scholes option valuation model that uses the assumptions noted in the following tables .", "the risk-free interest rate is estimated using the u.s .", "treasury yield curve and is based on the expected term of the award .", "expected volatility is estimated based on a blend of the weighted-average of the historical volatility of edwards 2019 stock and the implied volatility from traded options on edwards 2019 stock .", "the expected term of awards granted is estimated from the vesting period of the award , as well as historical exercise behavior , and represents the period of time that awards granted are expected to be outstanding .", "the company uses historical data to estimate forfeitures and has estimated an annual forfeiture rate of 5.1% ( 5.1 % ) .", "the black-scholes option pricing model was used with the following weighted-average assumptions for options granted during the following periods : option awards ." ]

[ "the fair value per share of 2013 is $ 19.47 ; the fair value per share of 2012 is $ 23.93 ; the fair value per share of 2011 is $ 22.78 ;" ]

[ [ "", "2013", "2012", "2011" ], [ "average risk-free interest rate", "0.8% ( 0.8 % )", "0.7% ( 0.7 % )", "1.7% ( 1.7 % )" ], [ "expected dividend yield", "none", "none", "none" ], [ "expected volatility", "31% ( 31 % )", "31% ( 31 % )", "27% ( 27 % )" ], [ "expected life ( years )", "4.6", "4.6", "4.5" ], [ "fair value per share", "$ 19.47", "$ 23.93", "$ 22.78" ] ]

[ "see note 4 to the financial statements for a description of the money pool .", "the system energy nuclear fuel company variable interest entity has a credit facility in the amount of $ 120 million scheduled to expire in may 2019 .", "as of december 31 , 2016 , $ 66.9 million in letters of credit were outstanding under the credit facility to support a like amount of commercial paper issued by the system energy nuclear fuel company variable interest entity .", "see note 4 to the financial statements for additional discussion of the variable interest entity credit facility .", "system energy obtained authorizations from the ferc through october 2017 for the following : 2022 short-term borrowings not to exceed an aggregate amount of $ 200 million at any time outstanding ; 2022 long-term borrowings and security issuances ; and 2022 long-term borrowings by its nuclear fuel company variable interest entity .", "see note 4 to the financial statements for further discussion of system energy 2019s short-term borrowing limits. ." ]

[ "system energy resources , inc .", "management 2019s financial discussion and analysis also in addition to the contractual obligations , system energy has $ 382.3 million of unrecognized tax benefits and interest net of unused tax attributes and payments for which the timing of payments beyond 12 months cannot be reasonably estimated due to uncertainties in the timing of effective settlement of tax positions .", "see note 3 to the financial statements for additional information regarding unrecognized tax benefits .", "in addition to routine spending to maintain operations , the planned capital investment estimate includes specific investments and initiatives such as the nuclear fleet operational excellence initiative , as discussed below in 201cnuclear matters , 201d and plant improvements .", "as a wholly-owned subsidiary , system energy dividends its earnings to entergy corporation at a percentage determined monthly .", "sources of capital system energy 2019s sources to meet its capital requirements include : 2022 internally generated funds ; 2022 cash on hand ; 2022 debt issuances ; and 2022 bank financing under new or existing facilities .", "system energy may refinance , redeem , or otherwise retire debt prior to maturity , to the extent market conditions and interest and dividend rates are favorable .", "all debt and common stock issuances by system energy require prior regulatory approval .", "debt issuances are also subject to issuance tests set forth in its bond indentures and other agreements .", "system energy has sufficient capacity under these tests to meet its foreseeable capital needs .", "system energy 2019s receivables from the money pool were as follows as of december 31 for each of the following years. ." ]

[ "2016 the $ 33809 of 2015 is $ 39926 ; the $ 33809 of 2014 is $ 2373 ; the $ 33809 of 2013 is $ 9223 ;" ]

[ [ "2016", "2015", "2014", "2013" ], [ "( in thousands )", "( in thousands )", "( in thousands )", "( in thousands )" ], [ "$ 33809", "$ 39926", "$ 2373", "$ 9223" ] ]

[ "total fuel expenses for our wholly-owned and third-party regional carriers operating under capacity purchase agreements of american were $ 1.2 billion and $ 2.0 billion for the years ended december 31 , 2015 and 2014 , respectively .", "as of december 31 , 2015 , we did not have any fuel hedging contracts outstanding to hedge our fuel consumption .", "as such , and assuming we do not enter into any future transactions to hedge our fuel consumption , we will continue to be fully exposed to fluctuations in fuel prices .", "our current policy is not to enter into transactions to hedge our fuel consumption , although we review that policy from time to time based on market conditions and other factors .", "fuel prices have fluctuated substantially over the past several years .", "we cannot predict the future availability , price volatility or cost of aircraft fuel .", "natural disasters , political disruptions or wars involving oil-producing countries , changes in fuel-related governmental policy , the strength of the u.s .", "dollar against foreign currencies , changes in access to petroleum product pipelines and terminals , speculation in the energy futures markets , changes in aircraft fuel production capacity , environmental concerns and other unpredictable events may result in fuel supply shortages , additional fuel price volatility and cost increases in the future .", "see part i , item 1a .", "risk factors 2013 201cour business is dependent on the price and availability of aircraft fuel .", "continued periods of high volatility in fuel costs , increased fuel prices and significant disruptions in the supply of aircraft fuel could have a significant negative impact on our operating results and liquidity . 201d insurance we maintain insurance of the types that we believe are customary in the airline industry , including insurance for public liability , passenger liability , property damage , and all-risk coverage for damage to our aircraft .", "principal coverage includes liability for injury to members of the public , including passengers , damage to ." ]

[ "table of contents certain union-represented american mainline employees are covered by agreements that are not currently amendable .", "until those agreements become amendable , negotiations for jcbas will be conducted outside the traditional rla bargaining process described above , and , in the meantime , no self-help will be permissible .", "the piedmont mechanics and stock clerks and the psa dispatchers have agreements that are now amendable and are engaged in traditional rla negotiations .", "none of the unions representing our employees presently may lawfully engage in concerted refusals to work , such as strikes , slow-downs , sick-outs or other similar activity , against us .", "nonetheless , there is a risk that disgruntled employees , either with or without union involvement , could engage in one or more concerted refusals to work that could individually or collectively harm the operation of our airline and impair our financial performance .", "for more discussion , see part i , item 1a .", "risk factors 2013 201cunion disputes , employee strikes and other labor-related disruptions may adversely affect our operations . 201d aircraft fuel our operations and financial results are significantly affected by the availability and price of jet fuel .", "based on our 2016 forecasted mainline and regional fuel consumption , we estimate that , as of december 31 , 2015 , a one cent per gallon increase in aviation fuel price would increase our 2016 annual fuel expense by $ 44 million .", "the following table shows annual aircraft fuel consumption and costs , including taxes , for our mainline operations for 2015 and 2014 ( gallons and aircraft fuel expense in millions ) .", "year gallons average price per gallon aircraft fuel expense percent of total mainline operating expenses ." ]

[ "based on our 2016 forecasted mainline and regional fuel consumption , we estimate that , as of december 31 , 2015 , a one cent per gallon increase in aviation fuel price would increase our 2016 annual fuel expense by $ 44 million .", "year the 2015 of gallons is 3611 ; the 2015 of average price pergallon is $ 1.72 ; the 2015 of aircraft fuel expense is $ 6226 ; the 2015 of percent of total mainline operating expenses is 21.6% ( 21.6 % ) ;" ]

[ [ "year", "gallons", "average price pergallon", "aircraft fuel expense", "percent of total mainline operating expenses" ], [ "2015", "3611", "$ 1.72", "$ 6226", "21.6% ( 21.6 % )" ], [ "2014", "3644", "2.91", "10592", "33.2% ( 33.2 % )" ] ]

[ "as of december 31 , 2018 , we considered these balances to be provisional because we were still in the process of determining the final purchase consideration , which is subject to adjustment pursuant to the purchase agreement , and gathering and reviewing information to support the valuations of the assets acquired and liabilities assumed .", "goodwill arising from the acquisition of $ 264.8 million , included in the north america segment , was attributable to expected growth opportunities , an assembled workforce and potential synergies from combining our existing businesses .", "we expect that approximately $ 50 million of the goodwill from this acquisition will be deductible for income tax purposes .", "74 2013 global payments inc .", "| 2018 form 10-k annual report ." ]

[ "assets ( including trade receivables ) that are in the scope of the update .", "asu 2016-13 also made amendments to the current impairment model for held-to-maturity and available-for-sale debt securities and certain guarantees .", "the guidance will become effective for us on january 1 , 2020 .", "early adoption is permitted for periods beginning on or after january 1 , 2019 .", "we are evaluating the effect of asu 2016-13 on our consolidated financial statements .", "note 2 2014 acquisitions the transactions described below were accounted for as business combinations , which requires that we record the assets acquired and liabilities assumed at fair value as of the acquisition date .", "on october 17 , 2018 , we acquired sicom systems , inc .", "( 201csicom 201d ) for total purchase consideration of $ 409.2 million , which we funded with cash on hand and by drawing on our revolving credit facility ( described in 201cnote 8 2014 long-term debt and lines of credit 201d ) .", "sicom is a provider of end-to-end enterprise , cloud-based software solutions and other technologies to quick service restaurants and food service management companies .", "sicom 2019s technologies are complementary to our existing xenial solutions , and we believe this acquisition will expand our software-driven payments strategy by enabling us to increase our capabilities and expand on our existing presence in the restaurant vertical market .", "prior to the acquisition , sicom was indirectly owned by a private equity investment firm where one of our board members is a partner and investor .", "his direct interest in the transaction was approximately $ 1.1 million , the amount distributed to him based on his investment interest in the fund of the private equity firm that sold sicom to us .", "based on consideration of all relevant information , the audit committee of our board of directors recommended that the board approve the acquisition of sicom , which it did .", "the provisional estimated acquisition-date fair values of major classes of assets acquired and liabilities assumed as of december 31 , 2018 , including a reconciliation to the total purchase consideration , were as follows ( in thousands ) : ." ]

[ "cash and cash equivalents the identified intangible assets of $ 7540 is 188294 ;", "cash and cash equivalents the total identifiable net assets of $ 7540 is 144357 ;", "cash and cash equivalents the goodwill of $ 7540 is 264844 ;", "as of december 31 , 2018 , we considered these balances to be provisional because we were still in the process of determining the final purchase consideration , which is subject to adjustment pursuant to the purchase agreement , and gathering and reviewing information to support the valuations of the assets acquired and liabilities assumed .", "goodwill arising from the acquisition of $ 264.8 million , included in the north america segment , was attributable to expected growth opportunities , an assembled workforce and potential synergies from combining our existing businesses ." ]

[ [ "cash and cash equivalents", "$ 7540" ], [ "property and equipment", "5943" ], [ "identified intangible assets", "188294" ], [ "other assets", "22278" ], [ "deferred income taxes", "-48448 ( 48448 )" ], [ "other liabilities", "-31250 ( 31250 )" ], [ "total identifiable net assets", "144357" ], [ "goodwill", "264844" ], [ "total purchase consideration", "$ 409201" ] ]

[ "( 1 ) see description of the true-up of purchase consideration below .", "see note 4 2014visa europe for more information related to the visa europe put option and the liability under framework agreement .", "visa inc .", "common stock issued in exchange for the acquired regions the value of the purchase consideration conveyed to each of the member groups of the acquired regions was determined by valuing the underlying businesses contributed by each , after giving effect to negotiated adjustments .", "the value of the purchase consideration , consisting of all outstanding shares of class canada , class ap , class lac and class cemea common stock , was measured at june 15 , 2007 ( the 201cmeasurement date 201d ) , the date on which all parties entered into the global restructuring agreement , and was determined to have a fair value of approximately $ 12.6 billion .", "the company primarily relied upon the analysis of comparable companies with similar industry , business model and financial profiles .", "this analysis considered a range of metrics including the forward multiples of revenue ; earnings before interest , depreciation and amortization ; and net income of comparable companies .", "ultimately , the company determined that the forward net income multiple was the most appropriate measure to value the acquired regions and reflect anticipated changes in the company 2019s financial profile prospectively .", "this multiple was applied to the corresponding forward net income of the acquired regions to calculate their value .", "the most comparable company identified was mastercard inc .", "therefore , the most significant input into this analysis was mastercard 2019s forward net income multiple of 27 times net income at the measurement date .", "the company additionally performed discounted cash flow analyses for each region .", "these analyses considered the company 2019s forecast by region and incorporated market participant assumptions for growth and profitability .", "the cash flows were discounted using rates ranging from 12-16% ( 12-16 % ) , reflecting returns for investments times earnings before interest , tax , depreciation and amortization ( 201cebitda 201d ) to ascribe value to periods beyond the company 2019s forecast , consistent with recent payment processing , financial exchange and credit card precedent transactions. ." ]

[ "visa inc .", "notes to consolidated financial statements 2014 ( continued ) september 30 , 2008 ( in millions , except as noted ) purchase consideration total purchase consideration of approximately $ 17.3 billion was exchanged in october 2007 for the acquired interests .", "the consideration was comprised of the following: ." ]

[ "the total purchase consideration of in millions is $ 18413 ;", "the visa inc . shares issued as additional purchase consideration at the time of the true-up ( 1 ) of in millions is 1150 ;" ]

[ [ "", "in millions" ], [ "visa inc . common stock", "$ 16785" ], [ "visa europe put option", "346" ], [ "liability under framework agreement", "132" ], [ "total purchase consideration issued at reorganization date", "17263" ], [ "visa inc . shares issued as additional purchase consideration at the time of the true-up ( 1 )", "1150" ], [ "total purchase consideration", "$ 18413" ] ]

[ "estimated basel iii transitional tier 1 common capital ( with 2014 phase-ins ) $ 28886 basel i risk-weighted assets calculated as applicable for 2014 272321 pro forma basel iii transitional tier 1 common capital ratio ( with 2014 phase-ins ) 10.6% ( 10.6 % ) ( a ) represents net adjustments related to accumulated other comprehensive income for available for sale securities and pension and other postretirement benefit plans .", "pnc utilizes these fully implemented and transitional basel iii capital ratios to assess its capital position , including comparison to similar estimates made by other financial institutions .", "these basel iii capital estimates are likely to be impacted by any additional regulatory guidance , continued analysis by pnc as to the application of the rules to pnc , and in the case of ratios calculated using the advanced approaches , the ongoing evolution , validation and regulatory approval of pnc 2019s models integral to the calculation of advanced approaches risk-weighted assets .", "the access to and cost of funding for new business initiatives , the ability to undertake new business initiatives including acquisitions , the ability to engage in expanded business activities , the ability to pay dividends or repurchase shares or other capital instruments , the level of deposit insurance costs , and the level and nature of regulatory oversight depend , in large part , on a financial institution 2019s capital strength .", "we provide additional information regarding enhanced capital requirements and some of their potential impacts on pnc in item 1 business 2013 supervision and regulation , item 1a risk factors and note 22 regulatory matters in the notes to consolidated financial statements in item 8 of this report .", "off-balance sheet arrangements and variable interest entities we engage in a variety of activities that involve unconsolidated entities or that are otherwise not reflected in our consolidated balance sheet that are generally referred to as 201coff-balance sheet arrangements . 201d additional information on these types of activities is included in the following sections of this report : 2022 commitments , including contractual obligations and other commitments , included within the risk management section of this item 7 , 2022 note 3 loan sale and servicing activities and variable interest entities in the notes to consolidated financial statements included in item 8 of this report , 2022 note 14 capital securities of subsidiary trusts and perpetual trust securities in the notes to consolidated financial statements included in item 8 of this report , and 2022 note 24 commitments and guarantees in the notes to consolidated financial statements included in item 8 of this report .", "pnc consolidates variable interest entities ( vies ) when we are deemed to be the primary beneficiary .", "the primary beneficiary of a vie is determined to be the party that meets both of the following criteria : ( i ) has the power to make decisions that most significantly affect the economic performance of the vie ; and ( ii ) has the obligation to absorb losses or the right to receive benefits that in either case could potentially be significant to the vie .", "a summary of vies , including those that we have consolidated and those in which we hold variable interests but have not consolidated into our financial statements , as of december 31 , 2013 and december 31 , 2012 is included in note 3 in the notes to consolidated financial statements included in item 8 of this report .", "trust preferred securities and reit preferred securities we are subject to certain restrictions , including restrictions on dividend payments , in connection with $ 206 million in principal amount of an outstanding junior subordinated debenture associated with $ 200 million of trust preferred securities ( both amounts as of december 31 , 2013 ) that were issued by pnc capital trust c , a subsidiary statutory trust .", "generally , if there is ( i ) an event of default under the debenture , ( ii ) pnc elects to defer interest on the debenture , ( iii ) pnc exercises its right to defer payments on the related trust preferred security issued by the statutory trust , or ( iv ) there is a default under pnc 2019s guarantee of such payment obligations , as specified in the applicable governing documents , then pnc would be subject during the period of such default or deferral to restrictions on dividends and other provisions protecting the status of the debenture holders similar to or in some ways more restrictive than those potentially imposed under the exchange agreement with pnc preferred funding trust ii .", "see note 14 capital securities of subsidiary trusts and perpetual trust securities in the notes to consolidated financial statements in item 8 of this report for additional information on contractual limitations on dividend payments resulting from securities issued by pnc preferred funding trust i and pnc preferred funding trust ii .", "see the liquidity risk management portion of the risk management section of this item 7 for additional information regarding our first quarter 2013 redemption of the reit preferred securities issued by pnc preferred funding trust iii and additional discussion of redemptions of trust preferred securities .", "48 the pnc financial services group , inc .", "2013 form 10-k ." ]

[ "table 20 : pro forma transitional basel iii tier 1 common capital ratio dollars in millions december 31 ." ]

[ "dollars in millions the basel i tier 1 common capital of december 31 2013 is $ 28484 ;", "dollars in millions the estimated basel iii transitional tier 1 common capital ( with 2014 phase-ins ) of december 31 2013 is $ 28886 ;" ]

[ [ "dollars in millions", "december 31 2013" ], [ "basel i tier 1 common capital", "$ 28484" ], [ "less phased-in regulatory capital adjustments:", "" ], [ "basel iii quantitative limits", "-228 ( 228 )" ], [ "accumulated other comprehensive income ( a )", "39" ], [ "other intangibles", "381" ], [ "all other adjustments", "210" ], [ "estimated basel iii transitional tier 1 common capital ( with 2014 phase-ins )", "$ 28886" ], [ "basel i risk-weighted assets calculated as applicable for 2014", "272321" ], [ "pro forma basel iii transitional tier 1 common capital ratio ( with 2014phase-ins )", "10.6% ( 10.6 % )" ] ]

[ "." ]

[ "corporate income taxes other than withholding taxes on certain investment income and premium excise taxes .", "if group or its bermuda subsidiaries were to become subject to u.s .", "income tax , there could be a material adverse effect on the company 2019s financial condition , results of operations and cash flows .", "united kingdom .", "bermuda re 2019s uk branch conducts business in the uk and is subject to taxation in the uk .", "bermuda re believes that it has operated and will continue to operate its bermuda operation in a manner which will not cause them to be subject to uk taxation .", "if bermuda re 2019s bermuda operations were to become subject to uk income tax , there could be a material adverse impact on the company 2019s financial condition , results of operations and cash flow .", "ireland .", "holdings ireland and ireland re conduct business in ireland and are subject to taxation in ireland .", "available information .", "the company 2019s annual reports on form 10-k , quarterly reports on form 10-q , current reports on form 8- k , proxy statements and amendments to those reports are available free of charge through the company 2019s internet website at http://www.everestregroup.com as soon as reasonably practicable after such reports are electronically filed with the securities and exchange commission ( the 201csec 201d ) .", "item 1a .", "risk factors in addition to the other information provided in this report , the following risk factors should be considered when evaluating an investment in our securities .", "if the circumstances contemplated by the individual risk factors materialize , our business , financial condition and results of operations could be materially and adversely affected and the trading price of our common shares could decline significantly .", "risks relating to our business fluctuations in the financial markets could result in investment losses .", "prolonged and severe disruptions in the public debt and equity markets , such as occurred during 2008 , could result in significant realized and unrealized losses in our investment portfolio .", "although financial markets have significantly improved since 2008 , they could deteriorate in the future .", "such declines in the financial markets could result in significant realized and unrealized losses on investments and could have a material adverse impact on our results of operations , equity , business and insurer financial strength and debt ratings .", "our results could be adversely affected by catastrophic events .", "we are exposed to unpredictable catastrophic events , including weather-related and other natural catastrophes , as well as acts of terrorism .", "any material reduction in our operating results caused by the occurrence of one or more catastrophes could inhibit our ability to pay dividends or to meet our interest and principal payment obligations .", "subsequent to april 1 , 2010 , we define a catastrophe as an event that causes a loss on property exposures before reinsurance of at least $ 10.0 million , before corporate level reinsurance and taxes .", "prior to april 1 , 2010 , we used a threshold of $ 5.0 million .", "by way of illustration , during the past five calendar years , pre-tax catastrophe losses , net of contract specific reinsurance but before cessions under corporate reinsurance programs , were as follows: ." ]

[ "calendar year : the 2011 of pre-tax catastrophe losses is 1300.4 ;", "calendar year : the 2010 of pre-tax catastrophe losses is 571.1 ;" ]

[ [ "calendar year:", "pre-tax catastrophe losses" ], [ "( dollars in millions )", "" ], [ "2013", "$ 195.0" ], [ "2012", "410.0" ], [ "2011", "1300.4" ], [ "2010", "571.1" ], [ "2009", "67.4" ] ]

[ "segment results 20142009 compared to 2008 in 2009 , the segment 2019s net sales were $ 8.0 billion , a decrease of 21% ( 21 % ) compared to net sales of $ 10.1 billion in 2008 .", "the 21% ( 21 % ) decrease in net sales reflects a 22% ( 22 % ) decrease in net sales in the networks business and a 21% ( 21 % ) decrease in net sales in the home business .", "the 22% ( 22 % ) decrease in net sales in the networks business was primarily driven by lower net sales of gsm , cdma , umts and iden infrastructure equipment , partially offset by higher net sales of wimax products .", "the 21% ( 21 % ) decrease in net sales in the home business was primarily driven by a 24% ( 24 % ) decrease in net sales of digital entertainment devices , reflecting : ( i ) an 18% ( 18 % ) decrease in shipments of digital entertainment devices , primarily due to lower shipments to large cable and telecommunications operators in north america as a result of macroeconomic conditions , and ( ii ) a lower asp due to an unfavorable shift in product mix .", "the segment shipped 14.7 million digital entertainment devices in 2009 , compared to 18.0 million shipped in 2008 .", "on a geographic basis , the 21% ( 21 % ) decrease in net sales was driven by lower net sales in all regions .", "the decrease in net sales in north america was primarily due to : ( i ) lower net sales in the home business , and ( ii ) lower net sales of cdma and iden infrastructure equipment , partially offset by higher net sales of wimax products .", "the decrease in net sales in emea was primarily due to lower net sales of gsm infrastructure equipment , partially offset by higher net sales of wimax products and higher net sales in the home business .", "the decrease in net sales in asia was primarily driven by lower net sales of gsm , umts and cdma infrastructure equipment , partially offset by higher net sales in the home business .", "the decrease in net sales in latin america was primarily due to : ( i ) lower net sales in the home business , and ( ii ) lower net sales of iden infrastructure equipment , partially offset by higher net sales of wimax products .", "net sales in north america accounted for approximately 51% ( 51 % ) of the segment 2019s total net sales in 2009 , compared to approximately 50% ( 50 % ) of the segment 2019s total net sales in 2008. ." ]

[ "management 2019s discussion and analysis of financial condition and results of operations in 2008 , asp was flat compared to 2007 .", "by comparison , asp decreased approximately 9% ( 9 % ) in 2007 and decreased approximately 11% ( 11 % ) in 2006 .", "the segment has several large customers located throughout the world .", "in 2008 , aggregate net sales to the segment 2019s five largest customers accounted for approximately 41% ( 41 % ) of the segment 2019s net sales .", "besides selling directly to carriers and operators , the segment also sells products through a variety of third-party distributors and retailers , which accounted for approximately 24% ( 24 % ) of the segment 2019s net sales in 2008 .", "although the u.s .", "market continued to be the segment 2019s largest individual market , many of our customers , and 56% ( 56 % ) of the segment 2019s 2008 net sales , were outside the u.s .", "in 2008 , the largest of these international markets were brazil , china and mexico .", "as the segment 2019s revenue transactions are largely denominated in local currencies , we are impacted by the weakening in the value of these local currencies against the u.s .", "dollar .", "a number of our more significant international markets , particularly in latin america , were impacted by this trend in late 2008 .", "home and networks mobility segment the home and networks mobility segment designs , manufactures , sells , installs and services : ( i ) digital video , internet protocol video and broadcast network interactive set-tops , end-to-end video distribution systems , broadband access infrastructure platforms , and associated data and voice customer premise equipment to cable television and telecom service providers ( collectively , referred to as the 2018 2018home business 2019 2019 ) , and ( ii ) wireless access systems , including cellular infrastructure systems and wireless broadband systems , to wireless service providers ( collectively , referred to as the 2018 2018network business 2019 2019 ) .", "in 2009 , the segment 2019s net sales represented 36% ( 36 % ) of the company 2019s consolidated net sales , compared to 33% ( 33 % ) in 2008 and 27% ( 27 % ) in 2007 .", "years ended december 31 percent change ( dollars in millions ) 2009 2008 2007 2009 20142008 2008 20142007 ." ]

[ "( dollars in millions ) the segment net sales of years ended december 31 2009 is $ 7963 ; the segment net sales of years ended december 31 2008 is $ 10086 ; the segment net sales of years ended december 31 2007 is $ 10014 ; the segment net sales of years ended december 31 2009 20142008 is ( 21 ) % ( % ) ; the segment net sales of 2008 20142007 is 1% ( 1 % ) ;", "in 2008 , aggregate net sales to the segment 2019s five largest customers accounted for approximately 41% ( 41 % ) of the segment 2019s net sales ." ]

[ [ "( dollars in millions )", "years ended december 31 2009", "years ended december 31 2008", "years ended december 31 2007", "years ended december 31 2009 20142008", "2008 20142007" ], [ "segment net sales", "$ 7963", "$ 10086", "$ 10014", "( 21 ) % ( % )", "1% ( 1 % )" ], [ "operating earnings", "558", "918", "709", "( 39 ) % ( % )", "29% ( 29 % )" ] ]

[ "the company purchased a total of $ 299.6 million , $ 265.9 million , and $ 61.7 million during the years ended december 31 , 2015 , 2014 , and 2013 , respectively , under these purchase agreements .", "the increase in purchases the increase in purchases under these agreements in 2014 , compared with 2013 , relates to the acquisition of boise in fourth quarter 2013 .", "environmental liabilities the potential costs for various environmental matters are uncertain due to such factors as the unknown magnitude of possible cleanup costs , the complexity and evolving nature of governmental laws and regulations and their interpretations , and the timing , varying costs and effectiveness of alternative cleanup technologies .", "from 2006 through 2015 , there were no significant environmental remediation costs at pca 2019s mills and corrugated plants .", "at december 31 , 2015 , the company had $ 24.3 million of environmental-related reserves recorded on its consolidated balance sheet .", "of the $ 24.3 million , approximately $ 15.8 million related to environmental-related asset retirement obligations discussed in note 12 , asset retirement obligations , and $ 8.5 million related to our estimate of other environmental contingencies .", "the company recorded $ 7.9 million in 201caccrued liabilities 201d and $ 16.4 million in 201cother long-term liabilities 201d on the consolidated balance sheet .", "liabilities recorded for environmental contingencies are estimates of the probable costs based upon available information and assumptions .", "because of these uncertainties , pca 2019s estimates may change .", "the company believes that it is not reasonably possible that future environmental expenditures for remediation costs and asset retirement obligations above the $ 24.3 million accrued as of december 31 , 2015 , will have a material impact on its financial condition , results of operations , or cash flows .", "guarantees and indemnifications we provide guarantees , indemnifications , and other assurances to third parties in the normal course of our business .", "these include tort indemnifications , environmental assurances , and representations and warranties in commercial agreements .", "at december 31 , 2015 , we are not aware of any material liabilities arising from any guarantee , indemnification , or financial assurance we have provided .", "if we determined such a liability was probable and subject to reasonable determination , we would accrue for it at that time. ." ]

[ "interest expense related to capital lease obligations was $ 1.6 million during the year ended december 31 , 2015 , and $ 1.6 million during both the years ended december 31 , 2014 and 2013 .", "purchase commitments in the table below , we set forth our enforceable and legally binding purchase obligations as of december 31 , 2015 .", "some of the amounts are based on management 2019s estimates and assumptions about these obligations , including their duration , the possibility of renewal , anticipated actions by third parties , and other factors .", "because these estimates and assumptions are necessarily subjective , our actual payments may vary from those reflected in the table .", "purchase orders made in the ordinary course of business are excluded below .", "any amounts for which we are liable under purchase orders are reflected on the consolidated balance sheets as accounts payable and accrued liabilities .", "these obligations relate to various purchase agreements for items such as minimum amounts of fiber and energy purchases over periods ranging from one year to 20 years .", "total purchase commitments were as follows ( dollars in millions ) : ." ]

[ "2016 the total of $ 95.3 is $ 312.0 ;" ]

[ [ "2016", "$ 95.3" ], [ "2017", "60.3" ], [ "2018", "28.0" ], [ "2019", "28.0" ], [ "2020", "23.4" ], [ "thereafter", "77.0" ], [ "total", "$ 312.0" ] ]

[ "during the fourth quarter of 2012 , we performed the annual impairment review of our trademarks and trade names using a discounted cash flow model and the relief-from-royalty method .", "the royalty rate used is based on comparable royalty agreements in the tourism and hospitality industry .", "these trademarks and trade names relate to pullmantur and we have used a discount rate comparable to the rate used in valuing the pullmantur reporting unit in our goodwill impairment test .", "as described in note 3 .", "goodwill , the continued deterioration of the spanish economy caused us to negatively adjust our cash flow projections for the pullmantur reporting unit , especially our closer-in net yield assumptions and the timing of future capacity growth for the brand .", "based on our updated cash flow projections , we determined that the fair value of pullmantur 2019s trademarks and trade names no longer exceeded their carrying value .", "accordingly , we recog- nized an impairment charge of approximately $ 17.4 million to write down trademarks and trade names to their fair value of $ 204.9 million .", "this impairment charge was recognized in earnings during the fourth quarter of 2012 and is reported within impairment of pullmantur related assets within our consolidated statements of comprehensive income ( loss ) .", "see note 13 .", "fair value measurements and derivative instruments for further discussion .", "if the spanish economy weakens further or recovers more slowly than contemplated or if the economies of other markets ( e.g .", "france , brazil , latin america ) 0494.indd 76 3/27/13 12:53 pm ." ]

[ "notes to the consolidated financial statements competitive environment and general economic and business conditions , among other factors .", "pullmantur is a brand targeted primarily at the spanish , portu- guese and latin american markets and although pullmantur has diversified its passenger sourcing over the past few years , spain still represents pullmantur 2019s largest market .", "as previously disclosed , during 2012 european economies continued to demonstrate insta- bility in light of heightened concerns over sovereign debt issues as well as the impact of proposed auster- ity measures on certain markets .", "the spanish econ- omy was more severely impacted than many other economies and there is significant uncertainty as to when it will recover .", "in addition , the impact of the costa concordia incident has had a more lingering effect than expected and the impact in future years is uncertain .", "these factors were identified in the past as significant risks which could lead to the impairment of pullmantur 2019s goodwill .", "more recently , the spanish economy has progressively worsened and forecasts suggest the challenging operating environment will continue for an extended period of time .", "the unemployment rate in spain reached 26% ( 26 % ) during the fourth quarter of 2012 and is expected to rise further in 2013 .", "the international monetary fund , which had projected gdp growth of 1.8% ( 1.8 % ) a year ago , revised its 2013 gdp projections downward for spain to a contraction of 1.3% ( 1.3 % ) during the fourth quarter of 2012 and further reduced it to a contraction of 1.5% ( 1.5 % ) in january of 2013 .", "during the latter half of 2012 new austerity measures , such as increases to the value added tax , cuts to benefits , the phasing out of exemptions and the suspension of government bonuses , were implemented by the spanish government .", "we believe these austerity measures are having a larger impact on consumer confidence and discretionary spending than previously anticipated .", "as a result , there has been a significant deterioration in bookings from guests sourced from spain during the 2013 wave season .", "the combination of all of these factors has caused us to negatively adjust our cash flow projections , especially our closer-in net yield assumptions and the expectations regarding future capacity growth for the brand .", "based on our updated cash flow projections , we determined the implied fair value of goodwill for the pullmantur reporting unit was $ 145.5 million and rec- ognized an impairment charge of $ 319.2 million .", "this impairment charge was recognized in earnings during the fourth quarter of 2012 and is reported within impairment of pullmantur related assets within our consolidated statements of comprehensive income ( loss ) .", "there have been no goodwill impairment charges related to the pullmantur reporting unit in prior periods .", "see note 13 .", "fair value measurements and derivative instruments for further discussion .", "if the spanish economy weakens further or recovers more slowly than contemplated or if the economies of other markets ( e.g .", "france , brazil , latin america ) perform worse than contemplated in our discounted cash flow model , or if there are material changes to the projected future cash flows used in the impair- ment analyses , especially in net yields , an additional impairment charge of the pullmantur reporting unit 2019s goodwill may be required .", "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 total of 2012 is $ 204866 ; the total of 2011 is $ 218883 ;", "intangible assets intangible assets are reported in other assets in our consolidated balance sheets and consist of the follow- ing ( in thousands ) : ." ]

[ [ "", "2012", "2011" ], [ "indefinite-life intangible asset 2014pullmantur trademarks and trade names", "$ 218883", "$ 225679" ], [ "impairment charge", "-17356 ( 17356 )", "2014" ], [ "foreign currency translation adjustment", "3339", "-6796 ( 6796 )" ], [ "total", "$ 204866", "$ 218883" ] ]

[ "inventory quantities are tracked through a perpetual inventory system .", "the company completes physical inventories and other targeted inventory counts in its store locations to ensure the accuracy of the perpetual inventory quantities of merchandise and core inventory .", "in its distribution centers and branches , the company uses a cycle counting program to ensure the accuracy of the perpetual inventory quantities of merchandise and product core inventory .", "reserves for estimated shrink are established based on the results of physical inventories conducted by the company and other targeted inventory counts in its stores , results from recent cycle counts in its distribution facilities and historical and current loss trends .", "the company also establishes reserves for potentially excess and obsolete inventories based on ( i ) current inventory levels , ( ii ) the historical analysis of product sales and ( iii ) current market conditions .", "the company has return rights with many of its vendors and the majority of excess inventory is returned to its vendors for full credit .", "in certain situations , the company establishes reserves when less than full credit is expected from a vendor or when liquidating product will result in retail prices below recorded costs. ." ]

[ "advance auto parts , inc .", "and subsidiaries notes to the consolidated financial statements december 31 , 2016 , january 2 , 2016 and january 3 , 2015 ( in thousands , except per share data ) 2 .", "inventories , net : merchandise inventory the company used the lifo method of accounting for approximately 89% ( 89 % ) of inventories at both december 31 , 2016 and january 2 , 2016 .", "under lifo , the company 2019s cost of sales reflects the costs of the most recently purchased inventories , while the inventory carrying balance represents the costs for inventories purchased in 2016 and prior years .", "as a result of utilizing lifo , the company recorded a reduction to cost of sales of $ 40711 and $ 42295 in 2016 and 2015 , respectively , and an increase to cost of sales of $ 8930 in 2014 .", "historically , the company 2019s overall costs to acquire inventory for the same or similar products have generally decreased as the company has been able to leverage its continued growth and execution of merchandise strategies .", "the increase in cost of sales for 2014 was the result of an increase in supply chain costs .", "product cores the remaining inventories are comprised of product cores , the non-consumable portion of certain parts and batteries and the inventory of certain subsidiaries , which are valued under the first-in , first-out ( 201cfifo 201d ) method .", "product cores are included as part of the company 2019s merchandise costs and are either passed on to the customer or returned to the vendor .", "because product cores are not subject to frequent cost changes like the company 2019s other merchandise inventory , there is no material difference when applying either the lifo or fifo valuation method .", "inventory overhead costs purchasing and warehousing costs included in inventory as of december 31 , 2016 and january 2 , 2016 , were $ 395240 and $ 359829 , respectively .", "inventory balance and inventory reserves inventory balances at the end of 2016 and 2015 were as follows : december 31 , january 2 ." ]

[ "the inventories at lifo net of december 312016 is $ 4325868 ; the inventories at lifo net of january 22016 is $ 4174768 ;" ]

[ [ "", "december 312016", "january 22016" ], [ "inventories at fifo net", "$ 4120030", "$ 4009641" ], [ "adjustments to state inventories at lifo", "205838", "165127" ], [ "inventories at lifo net", "$ 4325868", "$ 4174768" ] ]

[ "for a discussion of the changes in the components of free cash flow , you should read our discussion regarding cash flows provided by operating activities and cash flows used in investing activities contained elsewhere in this management 2019s discussion and analysis of financial condition and results of operations. ." ]

[ "financial assurance we must provide financial assurance to governmental agencies and a variety of other entities under applicable environmental regulations relating to our landfill operations for capping , closure and post-closure costs , and related to our performance under certain collection , landfill and transfer station contracts .", "we satisfy these financial assurance requirements by providing surety bonds , letters of credit , or insurance policies ( financial assurance instruments ) , or trust deposits , which are included in restricted cash and marketable securities and other assets in our consolidated balance sheets .", "the amount of the financial assurance requirements for capping , closure and post-closure costs is determined by applicable state environmental regulations .", "the financial assurance requirements for capping , closure and post-closure costs may be associated with a portion of the landfill or the entire landfill .", "generally , states require a third-party engineering specialist to determine the estimated capping , closure and post-closure costs that are used to determine the required amount of financial assurance for a landfill .", "the amount of financial assurance required can , and generally will , differ from the obligation determined and recorded under u.s .", "gaap .", "the amount of the financial assurance requirements related to contract performance varies by contract .", "additionally , we must provide financial assurance for our insurance program and collateral for certain performance obligations .", "we do not expect a material increase in financial assurance requirements during 2015 , although the mix of financial assurance instruments may change .", "these financial assurance instruments are issued in the normal course of business and are not considered indebtedness .", "because we currently have no liability for the financial assurance instruments , they are not reflected in our consolidated balance sheets ; however , we record capping , closure and post-closure liabilities and insurance liabilities as they are incurred .", "the underlying obligations of the financial assurance instruments , in excess of those already reflected in our consolidated balance sheets , would be recorded if it is probable that we would be unable to fulfill our related obligations .", "we do not expect this to occur .", "off-balance sheet arrangements we have no off-balance sheet debt or similar obligations , other than operating leases and financial assurances , which are not classified as debt .", "we have no transactions or obligations with related parties that are not disclosed , consolidated into or reflected in our reported financial position or results of operations .", "we have not guaranteed any third-party debt .", "free cash flow we define free cash flow , which is not a measure determined in accordance with u.s .", "gaap , as cash provided by operating activities less purchases of property and equipment , plus proceeds from sales of property and equipment , as presented in our consolidated statements of cash flows .", "the following table calculates our free cash flow for the years ended december 31 , 2014 , 2013 and 2012 ( in millions of dollars ) : ." ]

[ "the cash provided by operating activities of 2014 is $ 1529.8 ; the cash provided by operating activities of 2013 is $ 1548.2 ; the cash provided by operating activities of 2012 is $ 1513.8 ;", "the free cash flow of 2014 is $ 703.0 ; the free cash flow of 2013 is $ 691.3 ; the free cash flow of 2012 is $ 639.0 ;" ]

[ [ "", "2014", "2013", "2012" ], [ "cash provided by operating activities", "$ 1529.8", "$ 1548.2", "$ 1513.8" ], [ "purchases of property and equipment", "-862.5 ( 862.5 )", "-880.8 ( 880.8 )", "-903.5 ( 903.5 )" ], [ "proceeds from sales of property and equipment", "35.7", "23.9", "28.7" ], [ "free cash flow", "$ 703.0", "$ 691.3", "$ 639.0" ] ]

[ "." ]

[ "\"distribution date\" ) .", "until the distribution date ( or earlier redemption or expiration of the rights ) , the rights will be traded with , and only with , the common stock .", "until a right is exercised , the right will not entitle the holder thereof to any rights as a stockholder .", "if any person or group becomes an acquiring person , each holder of a right , other than rights beneficially owned by the acquiring person , will thereafter have the right to receive upon exercise and payment of the purchase price that number of shares of common stock having a market value of two times the purchase price and , if the company is acquired in a business combination transaction or 50% ( 50 % ) or more of its assets are sold , each holder of a right will thereafter have the right to receive upon exercise and payment of the purchase price that number of shares of common stock of the acquiring company which at the time of the transaction will have a market value of two times the purchase price .", "at any time after any person becomes an acquiring person and prior to the acquisition by such person or group of 50% ( 50 % ) or more of the outstanding common stock , the board of directors of the company may cause the rights ( other than rights owned by such person or group ) to be exchanged , in whole or in part , for common stock or junior preferred shares , at an exchange rate of one share of common stock per right or one half of one-hundredth of a junior preferred share per right .", "at any time prior to the acquisition by a person or group of beneficial ownership of 15% ( 15 % ) or more of the outstanding common stock , the board of directors of the company may redeem the rights at a price of $ 0.01 per right .", "the rights have certain anti-takeover effects , in that they will cause substantial dilution to a person or group that attempts to acquire a significant interest in vertex on terms not approved by the board of directors .", "common stock reserved for future issuance at december 31 , 2005 , the company has reserved shares of common stock for future issuance under all equity compensation plans as follows ( shares in thousands ) : o .", "significant revenue arrangements the company has formed strategic collaborations with pharmaceutical companies and other organizations in the areas of drug discovery , development , and commercialization .", "research , development and commercialization agreements provide the company with financial support and other valuable resources for its research programs and for the development of clinical drug candidates , and the marketing and sales of products .", "collaborative research , development and commercialization agreements in the company's collaborative research , development and commercialization programs the company seeks to discover , develop and commercialize pharmaceutical products in conjunction with and supported by the company's collaborators .", "collaborative research and development arrangements may provide research funding over an initial contract period with renewal and termination options that ." ]

[ "common stock under stock and option plans the common stock under the vertex 401 ( k ) plan of 17739 is 270 ;", "common stock under stock and option plans the total of 17739 is 18851 ;" ]

[ [ "common stock under stock and option plans", "17739" ], [ "common stock under the vertex purchase plan", "842" ], [ "common stock under the vertex 401 ( k ) plan", "270" ], [ "total", "18851" ] ]

[ "in november 2000 , entergy's non-utility nuclear business purchased the fitzpatrick and indian point 3 power plants in a seller-financed transaction .", "entergy issued notes to nypa with seven annual installments of approximately $ 108 million commencing one year from the date of the closing , and eight annual installments of $ 20 million commencing eight years from the date of the closing .", "these notes do not have a stated interest rate , but have an implicit interest rate of 4.8% ( 4.8 % ) .", "in accordance with the purchase agreement with nypa , the purchase of indian point 2 in 2001 resulted in entergy's non-utility nuclear business becoming liable to nypa for an additional $ 10 million per year for 10 years , beginning in september 2003 .", "this liability was recorded upon the purchase of indian point 2 in september 2001 , and is included in the note payable to nypa balance above .", "in july 2003 , a payment of $ 102 million was made prior to maturity on the note payable to nypa .", "under a provision in a letter of credit supporting these notes , if certain of the utility operating companies or system energy were to default on other indebtedness , entergy could be required to post collateral to support the letter of credit .", "covenants in the entergy corporation notes require it to maintain a consolidated debt ratio of 65% ( 65 % ) or less of its total capitalization .", "if entergy's debt ratio exceeds this limit , or if entergy or certain of the utility operating companies default on other indebtedness or are in bankruptcy or insolvency proceedings , an acceleration of the notes' maturity dates may occur .", "entergy gulf states louisiana , entergy louisiana , entergy mississippi , entergy texas , and system energy have received ferc long-term financing orders authorizing long-term securities issuances .", "entergy arkansas has ." ]

[ "entergy corporation and subsidiaries notes to financial statements ( a ) consists of pollution control revenue bonds and environmental revenue bonds .", "( b ) the bonds are secured by a series of collateral first mortgage bonds .", "( c ) in december 2005 , entergy corporation sold 10 million equity units with a stated amount of $ 50 each .", "an equity unit consisted of ( 1 ) a note , initially due february 2011 and initially bearing interest at an annual rate of 5.75% ( 5.75 % ) , and ( 2 ) a purchase contract that obligated the holder of the equity unit to purchase for $ 50 between 0.5705 and 0.7074 shares of entergy corporation common stock on or before february 17 , 2009 .", "entergy paid the holders quarterly contract adjustment payments of 1.875% ( 1.875 % ) per year on the stated amount of $ 50 per equity unit .", "under the terms of the purchase contracts , entergy attempted to remarket the notes in february 2009 but was unsuccessful , the note holders put the notes to entergy , entergy retired the notes , and entergy issued 6598000 shares of common stock in the settlement of the purchase contracts .", "( d ) pursuant to the nuclear waste policy act of 1982 , entergy's nuclear owner/licensee subsidiaries have contracts with the doe for spent nuclear fuel disposal service .", "the contracts include a one-time fee for generation prior to april 7 , 1983 .", "entergy arkansas is the only entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee , plus accrued interest , in long-term ( e ) the fair value excludes lease obligations , long-term doe obligations , and the note payable to nypa , and includes debt due within one year .", "it is determined using bid prices reported by dealer markets and by nationally recognized investment banking firms .", "( f ) entergy gulf states louisiana remains primarily liable for all of the long-term debt issued by entergy gulf states , inc .", "that was outstanding on december 31 , 2008 and 2007 .", "under a debt assumption agreement with entergy gulf states louisiana , entergy texas assumed approximately 46% ( 46 % ) of this long-term debt .", "the annual long-term debt maturities ( excluding lease obligations ) for debt outstanding as of december 31 , 2008 , for the next five years are as follows : amount ( in thousands ) ." ]

[ "the 2011 of amount ( in thousands ) is $ 897367 ;", "the 2012 of amount ( in thousands ) is $ 3625459 ;", "( d ) pursuant to the nuclear waste policy act of 1982 , entergy's nuclear owner/licensee subsidiaries have contracts with the doe for spent nuclear fuel disposal service ." ]

[ [ "", "amount ( in thousands )" ], [ "2009", "$ 516019" ], [ "2010", "$ 763036" ], [ "2011", "$ 897367" ], [ "2012", "$ 3625459" ], [ "2013", "$ 579461" ] ]

[ "there were no significant stock-based compensation costs capitalized during the years ended december 31 , 2015 , 2014 and 2013 .", "the cost of services received from employees in exchange for the issuance of stock options and restricted stock awards is measured based on the grant date fair value of the awards issued .", "the value of stock options and rsus awards at the date of the grant is amortized through expense over the three-year service period .", "all awards granted in 2015 , 2014 and 2013 are classified as equity .", "the company receives a tax deduction based on the intrinsic value of the award at the exercise date for stock options and the distribution date for rsus .", "for each award , throughout the requisite service period , the company recognizes the tax benefits , which have been included in deferred income tax assets , related to compensation costs .", "the tax deductions in excess of the benefits recorded throughout the requisite service period are recorded to common stockholders 2019 equity or the statement of operations and are presented in the financing section of the consolidated statements of cash flows .", "the company stratified its grant populations and used historic employee turnover rates to estimate employee forfeitures .", "the estimated rate is compared to the actual forfeitures at the end of the reporting period and adjusted as necessary .", "stock options in 2015 , 2014 and 2013 , the company granted non-qualified stock options to certain employees under the 2007 plan .", "the stock options vest ratably over the three-year service period beginning on january 1 of the year of the grant .", "these awards have no performance vesting conditions and the grant date fair value is amortized through expense over the requisite service period using the straight-line method and is included in operations and maintenance expense in the accompanying consolidated statements of operations. ." ]

[ "note 9 : stock based compensation the company has granted stock option and restricted stock unit ( 201crsus 201d ) awards to non-employee directors , officers and other key employees of the company pursuant to the terms of its 2007 omnibus equity compensation plan ( the 201c2007 plan 201d ) .", "the total aggregate number of shares of common stock that may be issued under the 2007 plan is 15.5 .", "as of december 31 , 2015 , 8.4 shares were available for grant under the 2007 plan .", "shares issued under the 2007 plan may be authorized-but-unissued shares of company stock or reacquired shares of company stock , including shares purchased by the company on the open market .", "the company recognizes compensation expense for stock awards over the vesting period of the award .", "the following table presents stock-based compensation expense recorded in operation and maintenance expense in the accompanying consolidated statements of operations for the years ended december 31: ." ]

[ "the stock-based compensation of 2015 is 11 ; the stock-based compensation of 2014 is 13 ; the stock-based compensation of 2013 is 13 ;" ]

[ [ "", "2015", "2014", "2013" ], [ "stock options", "$ 2", "$ 2", "$ 3" ], [ "rsus", "8", "10", "9" ], [ "espp", "1", "1", "1" ], [ "stock-based compensation", "11", "13", "13" ], [ "income tax benefit", "-4 ( 4 )", "-5 ( 5 )", "-5 ( 5 )" ], [ "stock-based compensation expense net of tax", "$ 7", "$ 8", "$ 8" ] ]

[ "." ]

[ "ventas , inc .", "notes to consolidated financial statements 2014 ( continued ) applicable indenture .", "the issuers may also redeem the 2015 senior notes , in whole at any time or in part from time to time , on or after june 1 , 2010 at varying redemption prices set forth in the applicable indenture , plus accrued and unpaid interest thereon to the redemption date .", "in addition , at any time prior to june 1 , 2008 , the issuers may redeem up to 35% ( 35 % ) of the aggregate principal amount of either or both of the 2010 senior notes and 2015 senior notes with the net cash proceeds from certain equity offerings at redemption prices equal to 106.750% ( 106.750 % ) and 107.125% ( 107.125 % ) , respectively , of the principal amount thereof , plus , in each case , accrued and unpaid interest thereon to the redemption date .", "the issuers may redeem the 2014 senior notes , in whole at any time or in part from time to time , ( i ) prior to october 15 , 2009 at a redemption price equal to 100% ( 100 % ) of the principal amount thereof , plus a make-whole premium as described in the applicable indenture and ( ii ) on or after october 15 , 2009 at varying redemption prices set forth in the applicable indenture , plus , in each case , accrued and unpaid interest thereon to the redemption date .", "the issuers may redeem the 2009 senior notes and the 2012 senior notes , in whole at any time or in part from time to time , at a redemption price equal to 100% ( 100 % ) of the principal amount thereof , plus accrued and unpaid interest thereon to the redemption date and a make-whole premium as described in the applicable indenture .", "if we experience certain kinds of changes of control , the issuers must make an offer to repurchase the senior notes , in whole or in part , at a purchase price in cash equal to 101% ( 101 % ) of the principal amount of the senior notes , plus any accrued and unpaid interest to the date of purchase ; provided , however , that in the event moody 2019s and s&p have confirmed their ratings at ba3 or higher and bb- or higher on the senior notes and certain other conditions are met , this repurchase obligation will not apply .", "mortgages at december 31 , 2007 , we had outstanding 121 mortgage loans totaling $ 1.57 billion that are collateralized by the underlying assets of the properties .", "outstanding principal balances on these loans ranged from $ 0.4 million to $ 59.4 million as of december 31 , 2007 .", "the loans generally bear interest at fixed rates ranging from 5.4% ( 5.4 % ) to 8.5% ( 8.5 % ) per annum , except for 15 loans with outstanding principal balances ranging from $ 0.4 million to $ 32.0 million , which bear interest at the lender 2019s variable rates ranging from 3.4% ( 3.4 % ) to 7.3% ( 7.3 % ) per annum as of december 31 , 2007 .", "at december 31 , 2007 , the weighted average annual rate on fixed rate debt was 6.5% ( 6.5 % ) and the weighted average annual rate on the variable rate debt was 6.1% ( 6.1 % ) .", "the loans had a weighted average maturity of 7.0 years as of december 31 , 2007 .", "sunrise 2019s portion of total debt was $ 157.1 million as of december 31 , scheduled maturities of borrowing arrangements and other provisions as of december 31 , 2007 , our indebtedness had the following maturities ( in thousands ) : ." ]

[ "2008 the total maturities of $ 193101 is 3347676 ;", "2008 the senior notes payable and other debt of $ 193101 is $ 3360499 ;" ]

[ [ "2008", "$ 193101" ], [ "2009", "605762" ], [ "2010", "282138" ], [ "2011", "303191" ], [ "2012", "527221" ], [ "thereafter", "1436263" ], [ "total maturities", "3347676" ], [ "unamortized fair value adjustment", "19669" ], [ "unamortized commission fees and discounts", "-6846 ( 6846 )" ], [ "senior notes payable and other debt", "$ 3360499" ] ]