z i m m e r h o l d i n g s , i n c . a n d s u b s i d i a r i e s 2 0 0 3 f o r m 1 0 - k contractual obligations the company has entered into contracts with various third parties in the normal course of business which will require future payments . the following table illustrates the company 2019s contractual obligations : than 1 - 3 4 - 5 after contractual obligations total 1 year years years 5 years .

Table:
contractual obligations | total | less than 1 year | 1 - 3 years | 4 - 5 years | after 5 years
long-term debt | $ 1103.0 | $ 100.0 | $ 655.3 | $ 347.7 | $ 2013
capital leases | 6.1 | 1.3 | 3.7 | 1.1 | 2013
operating leases | 77.2 | 23.0 | 32.3 | 9.2 | 12.7
purchase obligations | 13.3 | 13.3 | 2013 | 2013 | 2013
other long-term liabilities | 352.6 | 2013 | 139.9 | 42.0 | 170.7
total contractual obligations | $ 1552.2 | $ 137.6 | $ 831.2 | $ 400.0 | $ 183.4
critical accounting estimates the financial results of the company are affected by the income taxes 2013 the company estimates income selection and application of accounting policies and methods .
tax expense and income tax liabilities and assets by taxable significant accounting policies which require management 2019s jurisdiction .
realization of deferred tax assets in each taxable judgment are discussed below .
jurisdiction is dependent on the company 2019s ability to generate future taxable income sufficient to realize the excess inventory and instruments 2013 the company benefits .
the company evaluates deferred tax assets on must determine as of each balance sheet date how much , if an ongoing basis and provides valuation allowances if it is any , of its inventory may ultimately prove to be unsaleable or determined to be 2018 2018more likely than not 2019 2019 that the deferred unsaleable at its carrying cost .
similarly , the company must tax benefit will not be realized .
federal income taxes are also determine if instruments on hand will be put to provided on the portion of the income of foreign subsidiaries productive use or remain undeployed as a result of excess that is expected to be remitted to the u.s .
the company supply .
reserves are established to effectively adjust operates within numerous taxing jurisdictions .
the company inventory and instruments to net realizable value .
to is subject to regulatory review or audit in virtually all of determine the appropriate level of reserves , the company those jurisdictions and those reviews and audits may require evaluates current stock levels in relation to historical and extended periods of time to resolve .
the company makes use expected patterns of demand for all of its products and of all available information and makes reasoned judgments instrument systems and components .
the basis for the regarding matters requiring interpretation in establishing determination is generally the same for all inventory and tax expense , liabilities and reserves .
the company believes instrument items and categories except for work-in-progress adequate provisions exist for income taxes for all periods inventory , which is recorded at cost .
obsolete or and jurisdictions subject to review or audit .
discontinued items are generally destroyed and completely written off .
management evaluates the need for changes to commitments and contingencies 2013 accruals for valuation reserves based on market conditions , competitive product liability and other claims are established with offerings and other factors on a regular basis .
centerpulse internal and external counsel based on current information historically applied a similar conceptual framework in and historical settlement information for claims , related fees estimating market value of excess inventory and instruments and for claims incurred but not reported .
an actuarial model under international financial reporting standards and is used by the company to assist management in determining u.s .
generally accepted accounting principles .
within that an appropriate level of accruals for product liability claims .
framework , zimmer and centerpulse differed however , in historical patterns of claim loss development over time are certain respects , to their approaches to such estimation .
statistically analyzed to arrive at factors which are then following the acquisition , the company determined that a applied to loss estimates in the actuarial model .
the amounts consistent approach is necessary to maintaining effective established represent management 2019s best estimate of the control over financial reporting .
consideration was given to ultimate costs that it will incur under the various both approaches and the company established a common contingencies .
estimation technique taking both prior approaches into account .
this change in estimate resulted in a charge to earnings of $ 3.0 million after tax in the fourth quarter .
such change is not considered material to the company 2019s financial position , results of operations or cash flows. .

Question: what percent of total contractual obligations is comprised of operating leases?
Answer: 5%
Calculation: divide(77.2, 1552.2)