Table:
|  |  |  | Future Estimated Cash Payments Due by Period |  |  |
| --- | --- | --- | --- | --- | --- |
|  | Less than | 1 - 3 | 3 - 5 |  |  |
| Contractual Obligations | 1 year | years | years | > 5 years | Total |
| Convertible senior notes principal | $- | $122,527 | $- | $230,000 | $352,527 |
| Convertible senior notes stated interest | 6,591 | 10,196 | 9,200 | 6,900 | 32,887 |
| Operating leases | 7,565 | 12,628 | 12,325 | 7,659 | 40,177 |
| Purchase obligations | 39,390 | - | - | - | 39,390 |
| Total contractual obligations | $53,546 | $145,351 | $21,525 | $244,559 | $464,981 |
Paragraphs:
Contractual Obligations
Following is a summary of our contractual cash obligations as of February 28, 2019 (in thousands):
Purchase obligations consist primarily of inventory purchase commitments.
Question:
What are the Operating Leases as a percentage of the total contractual obligations? 
Answer: (40177/464981) = 8.64