amount of commitment expiration per period other commercial commitments after millions total 2012 2013 2014 2015 2016 2016 .

<i>Amount of Commitment Expiration per Period</i>
<i>Other Commercial Commitments</i><i>Millions</i>
<i>Total</i>
<i>2012</i>
<i>2013</i>
<i>2014</i>
<i>2015</i>
<i>2016</i>
<i>After 2016</i>
Credit facilities [a]
$1,800
$-
$-
$-
$1,800
$-
$-
Receivables securitization facility [b]
600
600
-
-
-
-
-
Guarantees [c]
325
18
8
214
12
13
60
Standby letters of credit [d]
24
24
-
-
-
-
-
Total commercialcommitments
$2,749
$642
$8
$214
$1,812
$13
$60

[a] none of the credit facility was used as of december 31 , 2011 .
[b] $ 100 million of the receivables securitization facility was utilized at december 31 , 2011 , which is accounted for as debt .
the full program matures in august 2012 .
[c] includes guaranteed obligations related to our headquarters building , equipment financings , and affiliated operations .
[d] none of the letters of credit were drawn upon as of december 31 , 2011 .
off-balance sheet arrangements guarantees 2013 at december 31 , 2011 , we were contingently liable for $ 325 million in guarantees .
we have recorded a liability of $ 3 million for the fair value of these obligations as of december 31 , 2011 and 2010 .
we entered into these contingent guarantees in the normal course of business , and they include guaranteed obligations related to our headquarters building , equipment financings , and affiliated operations .
the final guarantee expires in 2022 .
we are not aware of any existing event of default that would require us to satisfy these guarantees .
we do not expect that these guarantees will have a material adverse effect on our consolidated financial condition , results of operations , or liquidity .
other matters labor agreements 2013 in january 2010 , the nation 2019s largest freight railroads began the current round of negotiations with the labor unions .
generally , contract negotiations with the various unions take place over an extended period of time .
this round of negotiations was no exception .
in september 2011 , the rail industry reached agreements with the united transportation union .
on november 5 , 2011 , a presidential emergency board ( peb ) appointed by president obama issued recommendations to resolve the disputes between the u.s .
railroads and 11 unions that had not yet reached agreements .
since then , ten unions reached agreements with the railroads , all of them generally patterned on the recommendations of the peb , and the unions subsequently ratified these agreements .
the railroad industry reached a tentative agreement with the brotherhood of maintenance of way employees ( bmwe ) on february 2 , 2012 , eliminating the immediate threat of a national rail strike .
the bmwe now will commence ratification of this tentative agreement by its members .
inflation 2013 long periods of inflation significantly increase asset replacement costs for capital-intensive companies .
as a result , assuming that we replace all operating assets at current price levels , depreciation charges ( on an inflation-adjusted basis ) would be substantially greater than historically reported amounts .
derivative financial instruments 2013 we may use derivative financial instruments in limited instances to assist in managing our overall exposure to fluctuations in interest rates and fuel prices .
we are not a party to leveraged derivatives and , by policy , do not use derivative financial instruments for speculative purposes .
derivative financial instruments qualifying for hedge accounting must maintain a specified level of effectiveness between the hedging instrument and the item being hedged , both at inception and throughout the hedged period .
we formally document the nature and relationships between the hedging instruments and hedged items at inception , as well as our risk-management objectives , strategies for undertaking the various hedge transactions , and method of assessing hedge effectiveness .
changes in the fair market value of derivative financial instruments that do not qualify for hedge accounting are charged to earnings .
we may use swaps , collars , futures , and/or forward contracts to mitigate the risk of adverse movements in interest rates and fuel prices ; however , the use of these derivative financial instruments may limit future benefits from favorable price movements. .

Question: Analyse this data from a financial earnings document. what percent of total commercial commitments are credit facilities?
Choices:
0.07312
1.52722
1
0.65478
1800
Correct choice index: 3