{"pre_text": ["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 ) : ."], "post_text": ["in addition , the company has mexican tax credits of $ 5.2 million which if not utilized would expire in 2017. ."], "table": [["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"]], "table_ori": [["Years ended December 31,", "Federal", "State", "Foreign"], ["2011 to 2015", "$—", "$—", "$503"], ["2016 to 2020", "—", "331,315", "5,509"], ["2021 to 2025", "774,209", "576,780", "—"], ["2026 to 2030", "423,398", "279,908", "92,412"], ["Total", "$1,197,607", "$1,188,003", "$98,424"]]}

Question: what portion of the total net operating loss carryforwards is state related?
Evidence:
table_5: years ended december 31 , the total of federal is $ 1197607 ; the total of state is $ 1188003 ; the total of foreign is $ 98424 ;
Program: add(1197607, 1188003), add(#0, 98424), divide(1188003, #1)
Answer:
str_answer: 47.8%
exe_answer: 0.47826