Table:
|  |  |  | Payments Due by Period |  |  |
| --- | --- | --- | --- | --- | --- |
|  | Total | Less Than 1 Year | 2-3 Years | 4-5 Years | More Than 5 Years |
| Operating lease obligations | $23,673 | $9,008 | $10,907 | $2,827 | $931 |
| Purchase obligations | 20,520 | 16,748 | 3,669 | 103 | — |
| Total | $44,193 | $25,756 | $14,576 | $2,930 | $931 |
Paragraphs:
Summary Disclosures about Contractual Obligations and Commercial Commitments
Our material capital commitments consist of obligations under facilities and operating leases. Some of these leases have free or escalating rent payment provisions. We recognize rent expense under leases on a straight-line basis. We anticipate that we will experience an increase in our capital expenditures and lease commitments as a result of our anticipated growth in operations, infrastructure, personnel and resources devoted to building our brand name.
The following table summarizes our obligations as of March 31, 2019 (dollars in thousands):
We generally do not enter into binding purchase obligations. The purchase obligations above relate primarily to marketing and IT services. The contractual obligations table above excludes unrecognized tax benefits, plus related interest and penalties totaling $1.1 million because we cannot reasonably estimate in which future periods these amounts will ultimately be settled.
We have certain software royalty commitments associated with the shipment and licensing of certain products. Royalty expense is generally based on a fixed cost per unit shipped or a fixed fee for unlimited units shipped over a designated period. Royalty expense, included in cost of software and products revenues was $12.3 million in fiscal 2019 and $4.5 million million in fiscal 2018.
We offer a 90-day limited product warranty for our software. To date, costs relating to this product warranty have not been material.
Question:
What percentage of operating lease obligations are due in more than 4 years?
Answer: (931+2827)/23673 = 0.16