guarantees to third parties .
we have , however , issued guar- antees and comfort letters of $ 171 million for the debt and other obligations of unconsolidated affiliates , primarily for cpw .
in addition , off-balance sheet arrangements are gener- ally limited to the future payments under noncancelable operating leases , which totaled $ 408 million at may 28 , at may 28 , 2006 , we had invested in four variable interest entities ( vies ) .
we are the primary beneficiary ( pb ) of general mills capital , inc .
( gm capital ) , a subsidiary that we consolidate as set forth in note eight to the consoli- dated financial statements appearing on pages 43 and 44 in item eight of this report .
we also have an interest in a contract manufacturer at our former facility in geneva , illi- nois .
even though we are the pb , we have not consolidated this entity because it is not material to our results of oper- ations , financial condition , or liquidity at may 28 , 2006 .
this entity had property and equipment of $ 50 million and long-term debt of $ 50 million at may 28 , 2006 .
we are not the pb of the remaining two vies .
our maximum exposure to loss from these vies is limited to the $ 150 million minority interest in gm capital , the contract manufactur- er 2019s debt and our $ 6 million of equity investments in the two remaining vies .
the following table summarizes our future estimated cash payments under existing contractual obligations , including payments due by period .
the majority of the purchase obligations represent commitments for raw mate- rial and packaging to be utilized in the normal course of business and for consumer-directed marketing commit- ments that support our brands .
the net fair value of our interest rate and equity swaps was $ 159 million at may 28 , 2006 , based on market values as of that date .
future changes in market values will impact the amount of cash ultimately paid or received to settle those instruments in the future .
other long-term obligations primarily consist of income taxes , accrued compensation and benefits , and miscella- neous liabilities .
we are unable to estimate the timing of the payments for these items .
we do not have significant statutory or contractual funding requirements for our defined-benefit retirement and other postretirement benefit plans .
further information on these plans , including our expected contributions for fiscal 2007 , is set forth in note thirteen to the consolidated financial statements appearing on pages 47 through 50 in item eight of this report .
in millions , payments due by fiscal year total 2007 2008-09 2010-11 2012 and thereafter .

In Millions,Payments Dueby Fiscal Year
Total
2007
2008-09
2010-11
2012 andThereafter
Long-term debt
$4,546
$2,131
$971
$55
$1,389
Accrued interest
152
152
–
–
–
Operating leases
408
92
142
89
85
Purchaseobligations
2,351
2,068
144
75
64
Total
$7,457
$4,443
$1,257
$219
$1,538

significant accounting estimates for a complete description of our significant accounting policies , please see note one to the consolidated financial statements appearing on pages 35 through 37 in item eight of this report .
our significant accounting estimates are those that have meaningful impact on the reporting of our financial condition and results of operations .
these poli- cies include our accounting for trade and consumer promotion activities ; goodwill and other intangible asset impairments ; income taxes ; and pension and other postretirement benefits .
trade and consumer promotion activities we report sales net of certain coupon and trade promotion costs .
the consumer coupon costs recorded as a reduction of sales are based on the estimated redemption value of those coupons , as determined by historical patterns of coupon redemption and consideration of current market conditions such as competitive activity in those product categories .
the trade promotion costs include payments to customers to perform merchandising activities on our behalf , such as advertising or in-store displays , discounts to our list prices to lower retail shelf prices , and payments to gain distribution of new products .
the cost of these activi- ties is recognized as the related revenue is recorded , which generally precedes the actual cash expenditure .
the recog- nition of these costs requires estimation of customer participation and performance levels .
these estimates are made based on the quantity of customer sales , the timing and forecasted costs of promotional activities , and other factors .
differences between estimated expenses and actual costs are normally insignificant and are recognized as a change in management estimate in a subsequent period .
our accrued trade and consumer promotion liability was $ 339 million as of may 28 , 2006 , and $ 283 million as of may 29 , 2005 .
our unit volume in the last week of each quarter is consis- tently higher than the average for the preceding weeks of the quarter .
in comparison to the average daily shipments in the first 12 weeks of a quarter , the final week of each quarter has approximately two to four days 2019 worth of incre- mental shipments ( based on a five-day week ) , reflecting increased promotional activity at the end of the quarter .
this increased activity includes promotions to assure that our customers have sufficient inventory on hand to support major marketing events or increased seasonal demand early in the next quarter , as well as promotions intended to help achieve interim unit volume targets .
if , due to quarter-end promotions or other reasons , our customers purchase more product in any reporting period than end-consumer demand will require in future periods , our sales level in future reporting periods could be adversely affected. .

Question: Analyse this data from a financial earnings document. what portion of the total obligations due by fiscal year 2007 are dedicated for repayment of long-term debt?
Choices:
1
0.0027
6574
0.47963
2.08494
Correct choice index: 3