liquidity and capital resources we currently expect to fund all of our cash requirements which are reasonably foreseeable for 2018 , including scheduled debt repayments , new investments in the business , share repurchases , dividend payments , possible business acquisitions and pension contributions , with cash from operating activities , and as needed , additional short-term and/or long-term borrowings .
we continue to expect our operating cash flow to remain strong .
as of december 31 , 2017 , we had $ 211 million of cash and cash equivalents on hand , of which $ 151 million was held outside of the as of december 31 , 2016 , we had $ 327 million of cash and cash equivalents on hand , of which $ 184 million was held outside of the u.s .
as of december 31 , 2015 , we had $ 26 million of deferred tax liabilities for pre-acquisition foreign earnings associated with the legacy nalco entities and legacy champion entities that we intended to repatriate .
these liabilities were recorded as part of the respective purchase price accounting of each transaction .
the remaining foreign earnings were repatriated in 2016 , reducing the deferred tax liabilities to zero at december 31 , 2016 .
as of december 31 , 2017 we had a $ 2.0 billion multi-year credit facility , which expires in november 2022 .
the credit facility has been established with a diverse syndicate of banks .
there were no borrowings under our credit facility as of december 31 , 2017 or 2016 .
the credit facility supports our $ 2.0 billion u.s .
commercial paper program and $ 2.0 billion european commercial paper program .
combined borrowing under these two commercial paper programs may not exceed $ 2.0 billion .
at year-end , we had no amount outstanding under the european commercial paper program and no amount outstanding under the u.s .
commercial paper program .
additionally , we have uncommitted credit lines of $ 660 million with major international banks and financial institutions to support our general global funding needs .
most of these lines are used to support global cash pooling structures .
approximately $ 643 million of these credit lines were available for use as of year-end 2017 .
bank supported letters of credit , surety bonds and guarantees total $ 198 million and represent commercial business transactions .
we do not have any other significant unconditional purchase obligations or commercial commitments .
as of december 31 , 2017 , our short-term borrowing program was rated a-2 by standard & poor 2019s and p-2 by moody 2019s .
as of december 31 , 2017 , standard & poor 2019s and moody 2019s rated our long-term credit at a- ( stable outlook ) and baa1 ( stable outlook ) , respectively .
a reduction in our credit ratings could limit or preclude our ability to issue commercial paper under our current programs , or could also adversely affect our ability to renew existing , or negotiate new , credit facilities in the future and could increase the cost of these facilities .
should this occur , we could seek additional sources of funding , including issuing additional term notes or bonds .
in addition , we have the ability , at our option , to draw upon our $ 2.0 billion of committed credit facility .
we are in compliance with our debt covenants and other requirements of our credit agreements and indentures .
a schedule of our various obligations as of december 31 , 2017 are summarized in the following table: .

Payments Due by Period
(millions)
Total
Less Than 1 Year
2-3 Years
4-5 Years
More Than 5 Years
Notes payable
$ 15
$ 15
$ -
$ -
$ -
One-time transition tax
160
13
26
26
95
Long-term debt
7,303
549
696
1,513
4,545
Capital lease obligations
5
1
1
1
2
Operating leases
617
131
211
160
115
Interest*
2,753
242
436
375
1,700
Total
$ 10,853
$ 951
$ 1,370
$ 2,075
$ 6,457

* interest on variable rate debt was calculated using the interest rate at year-end 2017 .
during the fourth quarter of 2017 , we recorded a one-time transition tax related to enactment of the tax act .
the expense is primarily related to the one-time transition tax , which is payable over eight years .
as discussed further in note 12 , this balance is a provisional amount and is subject to adjustment during the measurement period of up to one year following the enactment of the tax act , as provided by recent sec guidance .
as of december 31 , 2017 , our gross liability for uncertain tax positions was $ 68 million .
we are not able to reasonably estimate the amount by which the liability will increase or decrease over an extended period of time or whether a cash settlement of the liability will be required .
therefore , these amounts have been excluded from the schedule of contractual obligations. .

Question: Analyse this data from a financial earnings document. what percent of the one-time transition tax is due in les than one year?
Choices:
12.96875
0.08125
0.08609
0.09375
0.59375
Correct choice index: 1