on the credit rating of the company and a $ 200 million term loan with an interest rate of libor plus a margin of 175 basis points , both with maturity dates in 2017 .
the proceeds from these borrowings were used , along with available cash , to fund the acquisition of temple- inland .
during 2012 , international paper fully repaid the $ 1.2 billion term loan .
international paper utilizes interest rate swaps to change the mix of fixed and variable rate debt and manage interest expense .
at december 31 , 2012 , international paper had interest rate swaps with a total notional amount of $ 150 million and maturities in 2013 ( see note 14 derivatives and hedging activities on pages 70 through 74 of item 8 .
financial statements and supplementary data ) .
during 2012 , existing swaps and the amortization of deferred gains on previously terminated swaps decreased the weighted average cost of debt from 6.8% ( 6.8 % ) to an effective rate of 6.6% ( 6.6 % ) .
the inclusion of the offsetting interest income from short- term investments reduced this effective rate to 6.2% ( 6.2 % ) .
other financing activities during 2012 included the issuance of approximately 1.9 million shares of treasury stock , net of restricted stock withholding , and 1.0 million shares of common stock for various incentive plans , including stock options exercises that generated approximately $ 108 million of cash .
payment of restricted stock withholding taxes totaled $ 35 million .
off-balance sheet variable interest entities information concerning off-balance sheet variable interest entities is set forth in note 12 variable interest entities and preferred securities of subsidiaries on pages 67 through 69 of item 8 .
financial statements and supplementary data for discussion .
liquidity and capital resources outlook for 2015 capital expenditures and long-term debt international paper expects to be able to meet projected capital expenditures , service existing debt and meet working capital and dividend requirements during 2015 through current cash balances and cash from operations .
additionally , the company has existing credit facilities totaling $ 2.0 billion of which nothing has been used .
the company was in compliance with all its debt covenants at december 31 , 2014 .
the company 2019s financial covenants require the maintenance of a minimum net worth of $ 9 billion and a total debt-to- capital ratio of less than 60% ( 60 % ) .
net worth is defined as the sum of common stock , paid-in capital and retained earnings , less treasury stock plus any cumulative goodwill impairment charges .
the calculation also excludes accumulated other comprehensive income/ loss and nonrecourse financial liabilities of special purpose entities .
the total debt-to-capital ratio is defined as total debt divided by the sum of total debt plus net worth .
at december 31 , 2014 , international paper 2019s net worth was $ 14.0 billion , and the total-debt- to-capital ratio was 40% ( 40 % ) .
the company will continue to rely upon debt and capital markets for the majority of any necessary long-term funding not provided by operating cash flows .
funding decisions will be guided by our capital structure planning objectives .
the primary goals of the company 2019s capital structure planning are to maximize financial flexibility and preserve liquidity while reducing interest expense .
the majority of international paper 2019s debt is accessed through global public capital markets where we have a wide base of investors .
maintaining an investment grade credit rating is an important element of international paper 2019s financing strategy .
at december 31 , 2014 , the company held long-term credit ratings of bbb ( stable outlook ) and baa2 ( stable outlook ) by s&p and moody 2019s , respectively .
contractual obligations for future payments under existing debt and lease commitments and purchase obligations at december 31 , 2014 , were as follows: .

In millions
2015
2016
2017
2018
2019
Thereafter
Maturities of long-term debt (a)
$742
$543
$71
$1,229
$605
$6,184
Debt obligations with right of offset (b)
—
5,202
—
—
—
—
Lease obligations
142
106
84
63
45
91
Purchase obligations (c)
3,266
761
583
463
422
1,690
Total (d)
$4,150
$6,612
$738
$1,755
$1,072
$7,965

( a ) total debt includes scheduled principal payments only .
( b ) represents debt obligations borrowed from non-consolidated variable interest entities for which international paper has , and intends to effect , a legal right to offset these obligations with investments held in the entities .
accordingly , in its consolidated balance sheet at december 31 , 2014 , international paper has offset approximately $ 5.2 billion of interests in the entities against this $ 5.3 billion of debt obligations held by the entities ( see note 12 variable interest entities and preferred securities of subsidiaries on pages 67 through 69 in item 8 .
financial statements and supplementary data ) .
( c ) includes $ 2.3 billion relating to fiber supply agreements entered into at the time of the 2006 transformation plan forestland sales and in conjunction with the 2008 acquisition of weyerhaeuser company 2019s containerboard , packaging and recycling business .
( d ) not included in the above table due to the uncertainty as to the amount and timing of the payment are unrecognized tax benefits of approximately $ 119 million .
as discussed in note 12 variable interest entities and preferred securities of subsidiaries on pages 67 through 69 in item 8 .
financial statements and supplementary data , in connection with the 2006 international paper installment sale of forestlands , we received $ 4.8 billion of installment notes ( or timber notes ) , which we contributed to certain non- consolidated borrower entities .
the installment notes mature in august 2016 ( unless extended ) .
the deferred .

Question: Analyse this data from a financial earnings document. in 2016 what was the percent of the maturities of long-term debt to the total contractual obligations for future payments under existing debt and lease commitments
Choices:
1
0.08212
0.3213
87.58065
0.08817
Correct choice index: 1