Table:
|  |  |  | Payments Due by Years |  |  |
| --- | --- | --- | --- | --- | --- |
| (In millions) | Total | 2020 | 2021-2022 | 2023-2024 | Thereafter |
| Contractual Obligations |  |  |  |  |  |
| Short-term borrowings | $ 98.9 | $ 98.9 | $ — | $ — | $ — |
| Current portion of long-term debt(1) | 18.4 | 18.4 | — | — | — |
| Long-term debt(1) | 3,729.2 | — | 938.9 | 1,499.8 | 1,290.5 |
| Total debt | $ 3,846.5 | $ 117.3 | $ 938.9 | $ 1,499.8 | $ 1,290.5 |
| Interest payments due on long-term debt(2) | 1,057.2 | 180.4 | 342.7 | 204.7 | 329.4 |
| Operating leases | 105.4 | 30.6 | 40.0 | 18.7 | 16.1 |
| First quarter 2020 quarterly cash dividend declared | 24.8 | 24.8 | — | — | — |
| Other principal contractual obligations | 86.2 | 35.6 | 31.4 | 19.2 | — |
| Total contractual cash obligations(3) | $ 5,120.1 | $ 388.7 | $ 1,353.0 | $ 1,742.4 | $ 1,636.0 |
Paragraphs:
The following table summarizes our principal contractual obligations and sets forth the amounts of required or contingently required cash outlays in 2020 and future years:
(1) Current portion of long-term debt is exclusive of present value discounting for finance lease obligations of $1.7 million. The long-term debt is exclusive of capitalized lender fees of $22.2 million, present value discounting for finance lease obligations of $6.1 million, and debt discounts of $2.3 million.
(2) Includes interest payments required under our senior notes issuances and Amended Credit Facility only. The interest payments included above for our Term Loan A were calculated using the following assumptions: • interest rates based on stated LIBOR rates as of December 31, 2019; and • all non-US Dollar balances are converted using exchange rates as of December 31, 2019.
(3) Obligations related to defined benefit pension plans and other post-employment benefit plans have been excluded from the table above, due to factors such as the retirement of employees, the performance of plan assets and economic and actuarial assumptions, as it is not reasonably possible to estimate when these obligations will become due. Refer to Note 17, “Profit Sharing, Retirement Savings Plans and Defined Benefit Pension Plans,” and Note 18, “Other Post- Employment Benefits and Other Employee Benefit Plans,” of the Notes to Consolidated Financial Statements for additional information related to these plans.
Short-term Borrowings, Current Portion of Long-Term Debt and Long-Term Debt
Short-term borrowings, current portion of long-term debt and long-term debt represent the principal amount of the debt
required to be repaid in each period.
Operating Leases
The contractual operating lease obligations listed in the table above represent estimated future minimum annual rental commitments primarily under non-cancelable real and personal property leases as of December 31, 2019.
Other Principal Contractual Obligations
Other principal contractual obligations include agreements to purchase an estimated amount of goods, including raw materials, or services, including energy, in the normal course of business. These obligations are enforceable and legally binding and specify all significant terms, including fixed or minimum quantities to be purchased, minimum or variable price provisions and the approximate timing of the purchase. The amounts included in the table above represent estimates of the minimum amounts we are obligated to pay, or reasonably likely to pay under these agreements. We may purchase additional goods or services above the minimum requirements of these obligations and, as a result use additional cash.
Question:
What is the Total contractual cash obligations for year 2020 expressed as a proportion of Total contractual cash obligations for all years?
Answer: 388.7/5120.1 = 0.08