our initial estimate of fraud losses , fines and other charges on our understanding of the rules and operating regulations published by the networks and preliminary communications with the networks . we have now reached resolution with and made payments to the networks , resulting in charges that were less than our initial estimates . the primary difference between our initial estimates and the final charges relates to lower fraud related costs attributed to this event than previously expected . the following table reflects the activity in our accrual for fraud losses , fines and other charges for the twelve months ended may 31 , 2013 ( in thousands ) : .

Table:
balance at may 31 2012 | $ 67436
adjustments | -31781 ( 31781 )
subtotal | 35655
payments | -35655 ( 35655 )
balance at may 31 2013 | $ 2014
we were insured under policies that provided coverage of certain costs associated with this event .
the policies provided a total of $ 30.0 million in policy limits and contained various sub-limits of liability and other terms , conditions and limitations , including a $ 1.0 million deductible per claim .
as of fiscal year 2013 , we received assessments from certain networks and submitted additional claims to the insurers and recorded $ 20.0 million in additional insurance recoveries based on our negotiations with our insurers .
we will record receivables for any additional recoveries in the periods in which we determine such recovery is probable and the amount can be reasonably estimated .
a class action arising out of the processing system intrusion was filed against us on april 4 , 2012 by natalie willingham ( individually and on behalf of a putative nationwide class ) ( the 201cplaintiff 201d ) .
specifically , ms .
willingham alleged that we failed to maintain reasonable and adequate procedures to protect her personally identifiable information ( 201cpii 201d ) which she claims resulted in two fraudulent charges on her credit card in march 2012 .
further , ms .
willingham asserted that we failed to timely notify the public of the data breach .
based on these allegations , ms .
willingham asserted claims for negligence , violation of the federal stored communications act , willful violation of the fair credit reporting act , negligent violation of the fair credit reporting act , violation of georgia 2019s unfair and deceptive trade practices act , negligence per se , breach of third-party beneficiary contract , and breach of implied contract .
ms .
willingham sought an unspecified amount of damages and injunctive relief .
the lawsuit was filed in the united states district court for the northern district of georgia .
on may 14 , 2012 , we filed a motion to dismiss .
on july 11 , 2012 , plaintiff filed a motion for leave to amend her complaint , and on july 16 , 2012 , the court granted that motion .
she then filed an amended complaint on july 16 , 2012 .
the amended complaint did not add any new causes of action .
instead , it added two new named plaintiffs ( nadine and robert hielscher ) ( together with plaintiff , the 201cplaintiffs 201d ) and dropped plaintiff 2019s claim for negligence per se .
on august 16 , 2012 , we filed a motion to dismiss the plaintiffs 2019 amended complaint .
the plaintiffs filed their response in opposition to our motion to dismiss on october 5 , 2012 , and we subsequently filed our reply brief on october 22 , 2012 .
the magistrate judge issued a report and recommendation recommending dismissal of all of plaintiffs 2019 claims with prejudice .
the plaintiffs subsequently agreed to voluntarily dismiss the lawsuit with prejudice , with each party bearing its own fees and costs .
this was the only consideration exchanged by the parties in connection with plaintiffs 2019 voluntary dismissal with prejudice of the lawsuit .
the lawsuit was dismissed with prejudice on march 6 , 2013 .
note 3 2014settlement processing assets and obligations we are designated as a merchant service provider by mastercard and an independent sales organization by visa .
these designations are dependent upon member clearing banks ( 201cmember 201d ) sponsoring us and our adherence to the standards of the networks .
we have primary financial institution sponsors in the various markets where we facilitate payment transactions with whom we have sponsorship or depository and clearing agreements .
these agreements allow us to route transactions under the member banks 2019 control and identification numbers to clear credit card transactions through mastercard and visa .
in certain markets , we are members in various payment networks , allowing us to process and fund transactions without third-party sponsorship. .

Question: what portion of the beginning balance of accrual for fraud losses is regulated through adjustments?
Answer: 47.1%
Calculation: divide(31781, 67436)