Table:
| Fee Category | 2019 ($) | 2018 ($) |
| --- | --- | --- |
| Audit fees (1) | 1,196,000 | 1,257,000 |
| Audit-related fees (2) | 0 | 15,000 |
| Tax fees (3) | 0 | 0 |
| All other fees (4) | 2,000 | 2,000 |
| Total | 1,198,000 | 1,274,000 |
Paragraphs:
Fees Paid to our Independent Auditor
The following table sets forth the fees billed to us by Ernst & Young LLP for services in fiscal 2019 and 2018, all of which
were pre-approved by the Audit Committee.
(1) In accordance with the SEC’s definitions and rules, “audit fees” are fees that were billed to Systemax by Ernst & Young LLP for
the audit of our annual financial statements, to be included in the Form 10-K, and review of financial statements included in the
Form 10-Qs; for the audit of our internal control over financial reporting with the objective of obtaining reasonable assurance about
whether effective internal control over financial reporting was maintained in all material respects; for the attestation of management’s
report on the effectiveness of internal control over financial reporting; and for services that are normally provided by the auditor
in connection with statutory and regulatory filings or engagements.
(2) “Audit-related fees” are fees for assurance and related services that are reasonably related to the performance of the audit or
review of our financial statements and internal control over financial reporting, including services in connection with assisting
Systemax in our compliance with our obligations under Section 404 of the Sarbanes-Oxley Act and related regulations.
(3) Ernst & Young LLP did not provide any professional services for tax compliance, planning or advice in 2019 or 2018.
(4) Consists of fees billed for other professional services rendered to Systemax.
Question:
What is the value of the audit-related fees as a percentage of the total fees paid to the auditor in 2018?
Answer: 15000/1274000  = 1.18