57management's discussion and analysis of financial condition and results of operations facility include covenants relating to net interest coverage and total debt-to-book capitalization ratios . the company was in compliance with the terms of the 3-year credit facility at december 31 , 2005 . the company has never borrowed under its domestic revolving credit facilities . utilization of the non-u.s . credit facilities may also be dependent on the company's ability to meet certain conditions at the time a borrowing is requested . contractual obligations , guarantees , and other purchase commitments contractual obligations summarized in the table below are the company's obligations and commitments to make future payments under debt obligations ( assuming earliest possible exercise of put rights by holders ) , lease payment obligations , and purchase obligations as of december 31 , 2005 . payments due by period ( 1 ) ( in millions ) total 2006 2007 2008 2009 2010 thereafter .

Table:
( in millions ) | payments due by period ( 1 ) total | payments due by period ( 1 ) 2006 | payments due by period ( 1 ) 2007 | payments due by period ( 1 ) 2008 | payments due by period ( 1 ) 2009 | payments due by period ( 1 ) 2010 | payments due by period ( 1 ) thereafter
long-term debt obligations | $ 4033 | $ 119 | $ 1222 | $ 200 | $ 2 | $ 529 | $ 1961
lease obligations | 1150 | 438 | 190 | 134 | 109 | 84 | 195
purchase obligations | 992 | 418 | 28 | 3 | 2 | 2 | 539
total contractual obligations | $ 6175 | $ 975 | $ 1440 | $ 337 | $ 113 | $ 615 | $ 2695
( 1 ) amounts included represent firm , non-cancelable commitments .
debt obligations : at december 31 , 2005 , the company's long-term debt obligations , including current maturities and unamortized discount and issue costs , totaled $ 4.0 billion , as compared to $ 5.0 billion at december 31 , 2004 .
a table of all outstanding long-term debt securities can be found in note 4 , ""debt and credit facilities'' to the company's consolidated financial statements .
as previously discussed , the decrease in the long- term debt obligations as compared to december 31 , 2004 , was due to the redemptions and repurchases of $ 1.0 billion principal amount of outstanding securities during 2005 .
also , as previously discussed , the remaining $ 118 million of 7.6% ( 7.6 % ) notes due january 1 , 2007 were reclassified to current maturities of long-term debt .
lease obligations : the company owns most of its major facilities , but does lease certain office , factory and warehouse space , land , and information technology and other equipment under principally non-cancelable operating leases .
at december 31 , 2005 , future minimum lease obligations , net of minimum sublease rentals , totaled $ 1.2 billion .
rental expense , net of sublease income , was $ 254 million in 2005 , $ 217 million in 2004 and $ 223 million in 2003 .
purchase obligations : the company has entered into agreements for the purchase of inventory , license of software , promotional agreements , and research and development agreements which are firm commitments and are not cancelable .
the longest of these agreements extends through 2015 .
total payments expected to be made under these agreements total $ 992 million .
commitments under other long-term agreements : the company has entered into certain long-term agreements to purchase software , components , supplies and materials from suppliers .
most of the agreements extend for periods of one to three years ( three to five years for software ) .
however , generally these agreements do not obligate the company to make any purchases , and many permit the company to terminate the agreement with advance notice ( usually ranging from 60 to 180 days ) .
if the company were to terminate these agreements , it generally would be liable for certain termination charges , typically based on work performed and supplier on-hand inventory and raw materials attributable to canceled orders .
the company's liability would only arise in the event it terminates the agreements for reasons other than ""cause.'' in 2003 , the company entered into outsourcing contracts for certain corporate functions , such as benefit administration and information technology related services .
these contracts generally extend for 10 years and are expected to expire in 2013 .
the total payments under these contracts are approximately $ 3 billion over 10 years ; however , these contracts can be terminated .
termination would result in a penalty substantially less than the annual contract payments .
the company would also be required to find another source for these services , including the possibility of performing them in-house .
as is customary in bidding for and completing network infrastructure projects and pursuant to a practice the company has followed for many years , the company has a number of performance/bid bonds and standby letters of credit outstanding , primarily relating to projects of government and enterprise mobility solutions segment and the networks segment .
these instruments normally have maturities of up to three years and are standard in the .

Question: what percent of the total contractual obligations in 2006 were long-term debt obligations?
Answer: 12%
Calculation: divide(119, 975)