the following table summarizes the short-term borrowing activity for awcc for the years ended december 31: .

Table:
 | 2017 | 2016
average borrowings | $ 779 | $ 850
maximum borrowings outstanding | 1135 | 1016
weighted average interest rates computed on daily basis | 1.24% ( 1.24 % ) | 0.78% ( 0.78 % )
weighted average interest rates as of december 31 | 1.61% ( 1.61 % ) | 0.98% ( 0.98 % )
the credit facility requires the company to maintain a ratio of consolidated debt to consolidated capitalization of not more than 0.70 to 1.00 .
the ratio as of december 31 , 2017 was 0.59 to 1.00 .
none of the company 2019s borrowings are subject to default or prepayment as a result of a downgrading of securities , although such a downgrading could increase fees and interest charges under the company 2019s credit facility .
as part of the normal course of business , the company routinely enters contracts for the purchase and sale of water , energy , fuels and other services .
these contracts either contain express provisions or otherwise permit the company and its counterparties to demand adequate assurance of future performance when there are reasonable grounds for doing so .
in accordance with the contracts and applicable contract law , if the company is downgraded by a credit rating agency , especially if such downgrade is to a level below investment grade , it is possible that a counterparty would attempt to rely on such a downgrade as a basis for making a demand for adequate assurance of future performance .
depending on the company 2019s net position with the counterparty , the demand could be for the posting of collateral .
in the absence of expressly agreed provisions that specify the collateral that must be provided , the obligation to supply the collateral requested will be a function of the facts and circumstances of the company 2019s situation at the time of the demand .
if the company can reasonably claim that it is willing and financially able to perform its obligations , it may be possible that no collateral would need to be posted or that only an amount equal to two or three months of future payments should be sufficient .
the company does not expect to post any collateral which will have a material adverse impact on the company 2019s results of operations , financial position or cash flows .
note 12 : general taxes the following table summarizes the components of general tax expense for the years ended december 31 : 2017 2016 2015 gross receipts and franchise .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
$ 110 $ 106 $ 99 property and capital stock .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
105 106 98 payroll .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
31 32 31 other general .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
13 14 15 total general taxes .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
$ 259 $ 258 $ 243 .

Question: what was the percent growth of borrowings outstanding from 2016 to 2017
Answer: 11.7%
Calculation: subtract(1135, 1016), divide(#0, 1016)