mastercard incorporated notes to consolidated financial statements 2014 ( continued ) ( in thousands , except percent and per share data ) the company does not make any contributions to its postretirement plan other than funding benefits payments . the following table summarizes expected net benefit payments from the company 2019s general assets through 2019 : benefit payments expected subsidy receipts benefit payments .

benefit payments: 2010: 2714
2011: 3028
2012: 3369
2013: 3660
2014: 4019
2015 2013 2019: 22686
expected subsidy receipts: 2010: 71
2011: 91
2012: 111
2013: 134
2014: 151
2015 2013 2019: 1071
net benefit payments: 2010: 2643
2011: 2937
2012: 3258
2013: 3526
2014: 3868
2015 2013 2019: 21615

the company provides limited postemployment benefits to eligible former u.s . employees , primarily severance under a formal severance plan ( the 201cseverance plan 201d ) . the company accounts for severance expense by accruing the expected cost of the severance benefits expected to be provided to former employees after employment over their relevant service periods . the company updates the assumptions in determining the severance accrual by evaluating the actual severance activity and long-term trends underlying the assumptions . as a result of updating the assumptions , the company recorded incremental severance expense ( benefit ) related to the severance plan of $ 3471 , $ 2643 and $ ( 3418 ) , respectively , during the years 2009 , 2008 and 2007 . these amounts were part of total severance expenses of $ 135113 , $ 32997 and $ 21284 in 2009 , 2008 and 2007 , respectively , included in general and administrative expenses in the accompanying consolidated statements of operations . note 14 . debt on april 28 , 2008 , the company extended its committed unsecured revolving credit facility , dated as of april 28 , 2006 ( the 201ccredit facility 201d ) , for an additional year . the new expiration date of the credit facility is april 26 , 2011 . the available funding under the credit facility will remain at $ 2500000 through april 27 , 2010 and then decrease to $ 2000000 during the final year of the credit facility agreement . other terms and conditions in the credit facility remain unchanged . the company 2019s option to request that each lender under the credit facility extend its commitment was provided pursuant to the original terms of the credit facility agreement . borrowings under the facility are available to provide liquidity in the event of one or more settlement failures by mastercard international customers and , subject to a limit of $ 500000 , for general corporate purposes . the facility fee and borrowing cost are contingent upon the company 2019s credit rating . at december 31 , 2009 , the facility fee was 7 basis points on the total commitment , or approximately $ 1774 annually . interest on borrowings under the credit facility would be charged at the london interbank offered rate ( libor ) plus an applicable margin of 28 basis points or an alternative base rate , and a utilization fee of 10 basis points would be charged if outstanding borrowings under the facility exceed 50% ( 50 % ) of commitments . at the inception of the credit facility , the company also agreed to pay upfront fees of $ 1250 and administrative fees of $ 325 , which are being amortized over five years . facility and other fees associated with the credit facility totaled $ 2222 , $ 2353 and $ 2477 for each of the years ended december 31 , 2009 , 2008 and 2007 , respectively . mastercard was in compliance with the covenants of the credit facility and had no borrowings under the credit facility at december 31 , 2009 or december 31 , 2008 . the majority of credit facility lenders are members or affiliates of members of mastercard international . in june 1998 , mastercard international issued ten-year unsecured , subordinated notes ( the 201cnotes 201d ) paying a fixed interest rate of 6.67% ( 6.67 % ) per annum . mastercard repaid the entire principal amount of $ 80000 on june 30 , 2008 pursuant to the terms of the notes . the interest expense on the notes was $ 2668 and $ 5336 for each of the years ended december 31 , 2008 and 2007 , respectively. .

Questions:
what is the benefit payment value in 2012?
what was the benefit payment value in 2011?
what is the ratio of 2012 to 2011?
what is that ratio less 1?

Answers:
3369
3028
1.1126
11.26%