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201 |
what was the percent of the total operating lease obligations that was due in less than 1 year
|
contractual obligations by less than more than period as of june 30 , 2011 1 year 1-3 years 3-5 years 5 years total .
[['contractual obligations byperiod as of june 30 2011', 'less than1 year', '1-3 years', '3-5 years', 'more than5 years', 'total'], ['operating lease obligations', '$ 7185', '$ 10511', '$ 7004', '$ 1487', '$ 26187'], ['capital lease obligations', '3016', '-', '-', '-', '3016'], ['notes payable includingaccrued interest', '23087', '45431', '82508', '-', '151026'], ['purchase obligations', '10700', '-', '-', '-', '10700'], ['total', '$ 43988', '$ 55942', '$ 89512', '$ 1487', '$ 190929']]
recent accounting pronouncements in october 2009 , the fasb issued accounting standards update ( 201casu 201d ) no .2009-13 , multiple-deliverable revenue arrangements , which is effective for arrangements beginning or changed during fiscal years starting after june 15 , 2010 .this new standard eliminates the use of the residual method of revenue recognition and requires the allocation of consideration to each deliverable using the relative selling price method .this new guidance did not have a material impact on revenue recognition because nearly all of the company 2019s revenue arrangements are subject to accounting standards codification ( 201casc 201d ) topic 985 .such arrangements are considered out of scope for this asu .in october 2009 , the fasb also issued asu no .2009-14 , software : certain revenue arrangements that include software elements , which is also effective for arrangements beginning or changed during fiscal years starting after june 15 , 2010 .this revision to software ( topic 985 ) drops from its scope all tangible products containing both software and non-software components that operate together to deliver the product 2019s functions .the majority of the company 2019s software arrangements are not tangible products with software components ; therefore , this update did not materially impact the company .the fasb issued asu no .2011-04 , fair value measurement in may 2011 , which is effective for the company beginning july 1 , 2012 and is to be applied prospectively .the updated explanatory guidance on measuring fair value will be adopted by the company at that time and is not expected to have a significant impact on our fair value calculations .no additional fair value measurements are required as a result of the update .the fasb also issued asu no .2011-05 , comprehensive income in june 2011 , which is effective for the company beginning january 1 , 2012 and will be applied retrospectively .the updated guidance requires non-owner changes in stockholders 2019 equity to be reported either in a single continuous statement of comprehensive income or in two separate but consecutive statements , rather than as part of the statement of changes in stockholders 2019 equity .no changes in disclosure will be required as a result of the update .critical accounting policies we prepare our consolidated financial statements in accordance with accounting principles generally accepted in the united states ( 201cu.s .gaap 201d ) .the significant accounting policies are discussed in note 1 to the consolidated financial statements .the preparation of consolidated financial statements in accordance with u.s .gaap requires us to make estimates and judgments that affect the reported amounts of assets , liabilities , revenue and expenses , as well as disclosure of contingent assets and liabilities .we base our estimates and judgments upon historical experience and other factors believed to be reasonable under the circumstances .changes in estimates or assumptions could result in a material adjustment to the consolidated financial statements .we have identified several critical accounting estimates .an accounting estimate is considered critical if both : ( a ) the nature of the estimates or assumptions is material due to the levels of subjectivity and judgment involved , and ( b ) the impact of changes in the estimates and assumptions would have a material effect on the consolidated financial statements. .
|
27.4%
| 999 | 201 |
202 |
what portion of the total minimum lease payments is related to interest?
|
entergy corporation and subsidiaries notes to financial statements as of december 31 , 2008 , system energy had future minimum lease payments ( reflecting an implicit rate of 5.13% ( 5.13 % ) ) , which are recorded as long-term debt as follows : amount ( in thousands ) .
[['', 'amount ( in thousands )'], ['2009', '$ 47760'], ['2010', '48569'], ['2011', '49437'], ['2012', '49959'], ['2013', '50546'], ['years thereafter', '103890'], ['total', '350161'], ['less : amount representing interest', '54857'], ['present value of net minimum lease payments', '$ 295304']]
.
|
15.7%
| 216 | 202 |
203 |
what is the net change in the balance of the other unrealized comprehensive income in 2001?
|
a black-scholes option-pricing model was used for purposes of estimating the fair value of state street 2019s employee stock options at the grant date .the following were the weighted average assumptions for the years ended december 31 , 2001 , 2000 and 1999 , respectively : risk-free interest rates of 3.99% ( 3.99 % ) , 5.75% ( 5.75 % ) and 5.90% ( 5.90 % ) ; dividend yields of 1.08% ( 1.08 % ) , .73% ( .73 % ) and .92% ( .92 % ) ; and volatility factors of the expected market price of state street common stock of .30 , .30 and .30 .the estimated weighted average life of the stock options granted was 4.1 years for the years ended december 31 , 2001 , 2000 and 1999 .o t h e r u n r e a l i z e d c o m p r e h e n s i v e i n c o m e ( l o s s ) at december 31 , the components of other unrealized comprehensive income ( loss ) , net of related taxes , were as follows: .
[['( dollars in millions )', '2001', '2000'], ['unrealized gain on available-for-sale securities', '$ 96', '$ 19'], ['foreign currency translation', '-27 ( 27 )', '-20 ( 20 )'], ['other', '1', ''], ['total', '$ 70', '$ -1 ( 1 )']]
note j shareholders 2019 rights plan in 1988 , state street declared a dividend of one preferred share purchase right for each outstanding share of common stock .in 1998 , the rights agreement was amended and restated , and in 2001 , the rights plan was impacted by the 2-for-1 stock split .accordingly , a right may be exercised , under certain conditions , to purchase one eight-hundredths share of a series of participating preferred stock at an exercise price of $ 132.50 , subject to adjustment .the rights become exercisable if a party acquires or obtains the right to acquire 10% ( 10 % ) or more of state street 2019s common stock or after commencement or public announcement of an offer for 10% ( 10 % ) or more of state street 2019s common stock .when exercisable , under certain conditions , each right entitles the holder thereof to purchase shares of common stock , of either state street or of the acquirer , having a market value of two times the then-current exercise price of that right .the rights expire in september 2008 , and may be redeemed at a price of $ .00125 per right , subject to adjustment , at any time prior to expiration or the acquisition of 10% ( 10 % ) of state street 2019s common stock .under certain circumstances , the rights may be redeemed after they become exercisable and may be subject to automatic redemption .note k regulatory matters r e g u l a t o r y c a p i t a l state street is subject to various regulatory capital requirements administered by federal banking agencies .failure to meet minimum capital requirements can initiate certain mandatory and discretionary actions by regulators that , if undertaken , could have a direct material effect on state street 2019s financial condition .under capital adequacy guidelines , state street must meet specific capital guidelines that involve quantitative measures of state street 2019s assets , liabilities and off-balance sheet items as calculated under regulatory accounting practices .state street 2019s capital amounts and classification are subject to qualitative judgments by the regulators about components , risk weightings and other factors .42 state street corporation .
|
71
| 890 | 203 |
204 |
what's the total in millions for subscribers for the largest 2 regional networks?
|
our digital media business consists of our websites and mobile and video-on-demand ( 201cvod 201d ) services .our websites include network branded websites such as discovery.com , tlc.com and animalplanet.com , and other websites such as howstuffworks.com , an online source of explanations of how the world actually works ; treehugger.com , a comprehensive source for 201cgreen 201d news , solutions and product information ; and petfinder.com , a leading pet adoption destination .together , these websites attracted an average of 24 million cumulative unique monthly visitors , according to comscore , inc .in 2011 .international networks our international networks segment principally consists of national and pan-regional television networks .this segment generates revenues primarily from fees charged to operators who distribute our networks , which primarily include cable and dth satellite service providers , and from advertising sold on our television networks and websites .discovery channel , animal planet and tlc lead the international networks 2019 portfolio of television networks , which are distributed in virtually every pay-television market in the world through an infrastructure that includes operational centers in london , singapore and miami .international networks has one of the largest international distribution platforms of networks with one to twelve networks in more than 200 countries and territories around the world .at december 31 , 2011 , international networks operated over 150 unique distribution feeds in over 40 languages with channel feeds customized according to language needs and advertising sales opportunities .our international networks segment owns and operates the following television networks which reached the following number of subscribers as of december 31 , 2011 : education and other our education and other segment primarily includes the sale of curriculum-based product and service offerings and postproduction audio services .this segment generates revenues primarily from subscriptions charged to k-12 schools for access to an online suite of curriculum-based vod tools , professional development services , and to a lesser extent student assessment and publication of hardcopy curriculum-based content .our education business also participates in corporate partnerships , global brand and content licensing business with leading non-profits , foundations and trade associations .other businesses primarily include postproduction audio services that are provided to major motion picture studios , independent producers , broadcast networks , cable channels , advertising agencies , and interactive producers .content development our content development strategy is designed to increase viewership , maintain innovation and quality leadership , and provide value for our network distributors and advertising customers .substantially all content is sourced from a wide range of third-party producers , which includes some of the world 2019s leading nonfiction production companies with which we have developed long-standing relationships , as well as independent producers .our production arrangements fall into three categories : produced , coproduced and licensed .substantially all produced content includes programming which we engage third parties to develop and produce while we retain editorial control and own most or all of the rights in exchange for paying all development and production costs .coproduced content refers to program rights acquired that we have collaborated with third parties to finance and develop .coproduced programs are typically high-cost projects for which neither we nor our coproducers wish to bear the entire cost or productions in which the producer has already taken on an international broadcast partner .licensed content is comprised of films or series that have been previously produced by third parties .global networks international subscribers ( millions ) regional networks international subscribers ( millions ) .
[['global networks discovery channel', 'international subscribers ( millions ) 213', 'regional networks dmax', 'international subscribers ( millions ) 47'], ['animal planet', '166', 'discovery kids', '37'], ['tlc real time and travel & living', '150', 'liv', '29'], ['discovery science', '66', 'quest', '23'], ['discovery home & health', '48', 'discovery history', '13'], ['turbo', '37', 'shed', '12'], ['discovery world', '27', 'discovery en espanol ( u.s. )', '5'], ['investigation discovery', '23', 'discovery famillia ( u.s. )', '4'], ['hd services', '17', '', '']]
.
|
379
| 908 | 204 |
205 |
as of december 312006 what was the expected annual unrecognized compensation to be recognized in the future periods
|
packaging corporation of america notes to consolidated financial statements ( continued ) december 31 , 2006 4 .stock-based compensation ( continued ) as of december 31 , 2006 , there was $ 8330000 of total unrecognized compensation costs related to the restricted stock awards .the company expects to recognize the cost of these stock awards over a weighted-average period of 2.5 years .5 .accrued liabilities the components of accrued liabilities are as follows: .
[['( in thousands )', 'december 31 , 2006', 'december 31 , 2005'], ['bonuses and incentives', '$ 29822', '$ 21895'], ['medical insurance and workers 2019 compensation', '18279', '18339'], ['vacation and holiday pay', '14742', '14159'], ['customer volume discounts and rebates', '13777', '13232'], ['franchise and property taxes', '8432', '8539'], ['payroll and payroll taxes', '5465', '4772'], ['other', '9913', '5889'], ['total', '$ 100430', '$ 86825']]
6 .employee benefit plans and other postretirement benefits in connection with the acquisition from pactiv , pca and pactiv entered into a human resources agreement which , among other items , granted pca employees continued participation in the pactiv pension plan for a period of up to five years following the closing of the acquisition for an agreed upon fee .effective january 1 , 2003 , pca adopted a mirror-image pension plan for eligible hourly employees to succeed the pactiv pension plan in which pca hourly employees had participated though december 31 , 2002 .the pca pension plan for hourly employees recognizes service earned under both the pca plan and the prior pactiv plan .benefits earned under the pca plan are reduced by retirement benefits earned under the pactiv plan through december 31 , 2002 .all assets and liabilities associated with benefits earned through december 31 , 2002 for hourly employees and retirees of pca were retained by the pactiv plan .effective may 1 , 2004 , pca adopted a grandfathered pension plan for certain salaried employees who had previously participated in the pactiv pension plan pursuant to the above mentioned human resource agreement .the benefit formula for the new pca pension plan for salaried employees is comparable to that of the pactiv plan except that the pca plan uses career average base pay in the benefit formula in lieu of final average base pay .the pca pension plan for salaried employees recognizes service earned under both the pca plan and the prior pactiv plan .benefits earned under the pca plan are reduced by retirement benefits earned under the pactiv plan through april 30 , 2004 .all assets and liabilities associated with benefits earned through april 30 , 2004 for salaried employees and retirees of pca were retained by the pactiv plan .pca maintains a supplemental executive retirement plan ( 201cserp 201d ) , which augments pension benefits for eligible executives ( excluding the ceo ) earned under the pca pension plan for salaried employees .benefits are determined using the same formula as the pca pension plan but in addition to counting .
|
3332000
| 782 | 205 |
206 |
without the net new business led by demand for european and japanese equities , what was the value of international shares ? in billion $ ?
|
the second largest closed-end fund manager and a top- ten manager by aum and 2013 net flows of long-term open-end mutual funds1 .in 2013 , we were also the leading manager by net flows for long-dated fixed income mutual funds1 .2022 we have fully integrated our legacy retail and ishares retail distribution teams to create a unified client-facing presence .as retail clients increasingly use blackrock 2019s capabilities in combination 2014 active , alternative and passive 2014 it is a strategic priority for blackrock to coherently deliver these capabilities through one integrated team .2022 international retail long-term net inflows of $ 17.5 billion , representing 15% ( 15 % ) organic growth , were positive across major regions and diversified across asset classes .equity net inflows of $ 6.4 billion were driven by strong demand for our top-performing european equities franchise as investor risk appetite for the sector improved .multi-asset class and fixed income products each generated net inflows of $ 4.8 billion , as investors looked to manage duration and volatility in their portfolios .in 2013 , we were ranked as the third largest cross border fund provider2 .in the united kingdom , we ranked among the five largest fund managers2 .ishares .
[['( in millions )', 'component changes in aum 2014 ishares 12/31/2012', 'component changes in aum 2014 ishares net new business', 'component changes in aum 2014 ishares acquisition ( 1 )', 'component changes in aum 2014 ishares market / fx', 'component changes in aum 2014 ishares 12/31/2013'], ['equity', '$ 534648', '$ 74119', '$ 13021', '$ 96347', '$ 718135'], ['fixed income', '192852', '-7450 ( 7450 )', '1294', '-7861 ( 7861 )', '178835'], ['multi-asset class', '869', '355', '2014', '86', '1310'], ['alternatives ( 2 )', '24337', '-3053 ( 3053 )', '1645', '-6837 ( 6837 )', '16092'], ['total ishares', '$ 752706', '$ 63971', '$ 15960', '$ 81735', '$ 914372']]
alternatives ( 2 ) 24337 ( 3053 ) 1645 ( 6837 ) 16092 total ishares $ 752706 $ 63971 $ 15960 $ 81735 $ 914372 ( 1 ) amounts represent $ 16.0 billion of aum acquired in the credit suisse etf acquisition in july 2013 .( 2 ) amounts include commodity ishares .ishares is the leading etf provider in the world , with $ 914.4 billion of aum at december 31 , 2013 , and was the top asset gatherer globally in 20133 with $ 64.0 billion of net inflows for an organic growth rate of 8% ( 8 % ) .equity net inflows of $ 74.1 billion were driven by flows into funds with broad developed market exposures , partially offset by outflows from emerging markets products .ishares fixed income experienced net outflows of $ 7.5 billion , as the continued low interest rate environment led many liquidity-oriented investors to sell long-duration assets , which made up the majority of the ishares fixed income suite .in 2013 , we launched several funds to meet demand from clients seeking protection in a rising interest rate environment by offering an expanded product set that includes four new u.s .funds , including short-duration versions of our flagship high yield and investment grade credit products , and short maturity and liquidity income funds .ishares alternatives had $ 3.1 billion of net outflows predominantly out of commodities .ishares represented 23% ( 23 % ) of long-term aum at december 31 , 2013 and 35% ( 35 % ) of long-term base fees for ishares offers the most diverse product set in the industry with 703 etfs at year-end 2013 , and serves the broadest client base , covering more than 25 countries on five continents .during 2013 , ishares continued its dual commitment to innovation and responsible product structuring by introducing 42 new etfs , acquiring credit suisse 2019s 58 etfs in europe and entering into a critical new strategic alliance with fidelity investments to deliver fidelity 2019s more than 10 million clients increased access to ishares products , tools and support .our alliance with fidelity investments and a successful full first year for the core series have deeply expanded our presence and offerings among buy-and-hold investors .our broad product range offers investors a precise , transparent and low-cost way to tap market returns and gain access to a full range of asset classes and global markets that have been difficult or expensive for many investors to access until now , as well as the liquidity required to make adjustments to their exposures quickly and cost-efficiently .2022 u.s .ishares aum ended at $ 655.6 billion with $ 41.4 billion of net inflows driven by strong demand for developed markets equities and short-duration fixed income .during the fourth quarter of 2012 , we debuted the core series in the united states , designed to provide the essential building blocks for buy-and-hold investors to use in constructing the core of their portfolio .the core series demonstrated solid results in its first full year , raising $ 20.0 billion in net inflows , primarily in u.s .equities .in the united states , ishares maintained its position as the largest etf provider , with 39% ( 39 % ) share of aum3 .2022 international ishares aum ended at $ 258.8 billion with robust net new business of $ 22.6 billion led by demand for european and japanese equities , as well as a diverse range of fixed income products .at year-end 2013 , ishares was the largest european etf provider with 48% ( 48 % ) of aum3 .1 simfund 2 lipper feri 3 blackrock ; bloomberg .
|
236.2
| 1,568 | 206 |
207 |
what is the anticipated growth rate of the unrecognized tax benefits in 2008
|
ventas , inc .notes to consolidated financial statements 2014 ( continued ) we have a combined nol carryforward of $ 66.5 million at december 31 , 2007 related to the trs entities and an nol carryforward reported by the reit of $ 88.6 million .these amounts can be used to offset future taxable income ( and/or taxable income for prior years if audits of any prior year 2019s return determine that amounts are owed ) , if any .the reit will be entitled to utilize nols and tax credit carryforwards only to the extent that reit taxable income exceeds our deduction for dividends paid .the nol carryforwards begin to expire in 2024 with respect to the trs entities and in 2018 for the reit .as a result of the uncertainties relating to the ultimate utilization of existing reit nols , no net deferred tax benefit has been ascribed to reit nol carryforwards as of december 31 , 2007 and 2006 .the irs may challenge our entitlement to these tax attributes during its review of the tax returns for the previous tax years .we believe we are entitled to these tax attributes , but we cannot assure you as to the outcome of these matters .on january 1 , 2007 , we adopted fin 48 .as a result of applying the provisions of fin 48 , we recognized no change in the liability for unrecognized tax benefits , and no adjustment in accumulated earnings as of january 1 , 2007 .our policy is to recognize interest and penalties related to unrecognized tax benefits in income tax expense .the following table summarizes the activity related to our unrecognized tax benefits ( in thousands ) : .
[['balance as of january 1 2007', '$ 2014'], ['additions to tax positions related to the current year', '9384'], ['balance as of december 31 2007', '$ 9384']]
included in the unrecognized tax benefits of $ 9.4 million at december 31 , 2007 was $ 9.4 million of tax benefits that , if recognized , would reduce our annual effective tax rate .we accrued no potential penalties and interest related to the unrecognized tax benefits during 2007 , and in total , as of december 31 , 2007 , we have recorded no liability for potential penalties and interest .we expect our unrecognized tax benefits to increase by $ 2.7 million during 2008 .note 13 2014commitments and contingencies assumption of certain operating liabilities and litigation as a result of the structure of the sunrise reit acquisition , we may be subject to various liabilities of sunrise reit arising out of the ownership or operation of the sunrise reit properties prior to the acquisition .if the liabilities we have assumed are greater than expected , or if there are obligations relating to the sunrise reit properties of which we were not aware at the time of completion of the sunrise reit acquisition , such liabilities and/or obligations could have a material adverse effect on us .in connection with our spin off of kindred in 1998 , kindred agreed , among other things , to assume all liabilities and to indemnify , defend and hold us harmless from and against certain losses , claims and litigation arising out of the ownership or operation of the healthcare operations or any of the assets transferred to kindred in the spin off , including without limitation all claims arising out of the third-party leases and third-party guarantees assigned to and assumed by kindred at the time of the spin off .under kindred 2019s plan of reorganization , kindred assumed and agreed to fulfill these obligations .the total aggregate remaining minimum rental payments under the third-party leases was approximately $ 16.0 million as of december 31 , 2007 , and we believe that we had no material exposure under the third-party guarantees .similarly , in connection with provident 2019s acquisition of certain brookdale-related and alterra-related entities in 2005 and our subsequent acquisition of provident , brookdale and alterra agreed , among other things .
|
28.7%
| 922 | 207 |
208 |
what is the expected percentage change in rent expense and certain office equipment expense in 2017?
|
future payments that will not be paid because of an early redemption , which is discounted at a fixed spread over a comparable treasury security .the unamortized discount and debt issuance costs are being amortized over the remaining term of the 2022 notes .2021 notes .in may 2011 , the company issued $ 1.5 billion in aggregate principal amount of unsecured unsubordinated obligations .these notes were issued as two separate series of senior debt securities , including $ 750 million of 4.25% ( 4.25 % ) notes maturing in may 2021 and $ 750 million of floating rate notes , which were repaid in may 2013 at maturity .net proceeds of this offering were used to fund the repurchase of blackrock 2019s series b preferred from affiliates of merrill lynch & co. , inc .interest on the 4.25% ( 4.25 % ) notes due in 2021 ( 201c2021 notes 201d ) is payable semi-annually on may 24 and november 24 of each year , which commenced november 24 , 2011 , and is approximately $ 32 million per year .the 2021 notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price .the unamortized discount and debt issuance costs are being amortized over the remaining term of the 2021 notes .2019 notes .in december 2009 , the company issued $ 2.5 billion in aggregate principal amount of unsecured and unsubordinated obligations .these notes were issued as three separate series of senior debt securities including $ 0.5 billion of 2.25% ( 2.25 % ) notes , which were repaid in december 2012 , $ 1.0 billion of 3.50% ( 3.50 % ) notes , which were repaid in december 2014 at maturity , and $ 1.0 billion of 5.0% ( 5.0 % ) notes maturing in december 2019 ( the 201c2019 notes 201d ) .net proceeds of this offering were used to repay borrowings under the cp program , which was used to finance a portion of the acquisition of barclays global investors from barclays on december 1 , 2009 , and for general corporate purposes .interest on the 2019 notes of approximately $ 50 million per year is payable semi-annually in arrears on june 10 and december 10 of each year .these notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price .the unamortized discount and debt issuance costs are being amortized over the remaining term of the 2019 notes .2017 notes .in september 2007 , the company issued $ 700 million in aggregate principal amount of 6.25% ( 6.25 % ) senior unsecured and unsubordinated notes maturing on september 15 , 2017 ( the 201c2017 notes 201d ) .a portion of the net proceeds of the 2017 notes was used to fund the initial cash payment for the acquisition of the fund-of-funds business of quellos and the remainder was used for general corporate purposes .interest is payable semi-annually in arrears on march 15 and september 15 of each year , or approximately $ 44 million per year .the 2017 notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price .the unamortized discount and debt issuance costs are being amortized over the remaining term of the 2017 notes .13 .commitments and contingencies operating lease commitments the company leases its primary office spaces under agreements that expire through 2035 .future minimum commitments under these operating leases are as follows : ( in millions ) .
[['year', 'amount'], ['2017', '142'], ['2018', '135'], ['2019', '125'], ['2020', '120'], ['2021', '112'], ['thereafter', '404'], ['total', '$ 1038']]
rent expense and certain office equipment expense under lease agreements amounted to $ 134 million , $ 136 million and $ 132 million in 2016 , 2015 and 2014 , respectively .investment commitments .at december 31 , 2016 , the company had $ 192 million of various capital commitments to fund sponsored investment funds , including consolidated vies .these funds include private equity funds , real assets funds , and opportunistic funds .this amount excludes additional commitments made by consolidated funds of funds to underlying third-party funds as third-party noncontrolling interest holders have the legal obligation to fund the respective commitments of such funds of funds .in addition to the capital commitments of $ 192 million , the company had approximately $ 12 million of contingent commitments for certain funds which have investment periods that have expired .generally , the timing of the funding of these commitments is unknown and the commitments are callable on demand at any time prior to the expiration of the commitment .these unfunded commitments are not recorded on the consolidated statements of financial condition .these commitments do not include potential future commitments approved by the company that are not yet legally binding .the company intends to make additional capital commitments from time to time to fund additional investment products for , and with , its clients .contingencies contingent payments related to business acquisitions .in connection with certain acquisitions , blackrock is required to make contingent payments , subject to achieving specified performance targets , which may include revenue related to acquired contracts or new capital commitments for certain products .the fair value of the remaining aggregate contingent payments at december 31 , 2016 totaled $ 115 million and is included in other liabilities on the consolidated statement of financial condition .other contingent payments .the company acts as the portfolio manager in a series of derivative transactions and has a maximum potential exposure of $ 17 million between the company and counterparty .see note 7 , derivatives and hedging , for further discussion .legal proceedings .from time to time , blackrock receives subpoenas or other requests for information from various u.s .federal , state governmental and domestic and international regulatory authorities in connection with .
|
6.0%
| 1,520 | 208 |
209 |
in 2004 what was the amount of the total gains on sales of the joint venture and the land
|
management 2019s discussion and analysis of financial condition and results of operations maturity at an effective rate of 6.33% ( 6.33 % ) .in december we issued $ 250 million of unsecured floating rate debt at 26 basis points over libor .the debt matures in two years , but is callable at our option after six months .25cf in august , we paid off $ 15 million of a $ 40 million secured floating rate term loan .we also assumed $ 29.9 million of secured debt in conjunction with a property acquisition in atlanta .25cf the average balance and average borrowing rate of our $ 500 million revolving credit facility were slightly higher in 2004 than in 2003 .at the end of 2004 we were not utilizing our credit facility .depreciation and amortization expense depreciation and amortization expense increased from $ 188.0 million in 2003 to $ 224.6 million in 2004 as a result of increased capital spending associated with increased leasing , the additional basis resulting from acquisitions , development activity and the application of sfas 141 as described below .the points below highlight the significant increase in depreciation and amortization .25cf depreciation expense on tenant improvements increased by $ 14.1 million .25cf depreciation expense on buildings increased by $ 6.0 million .25cf lease commission amortization increased by $ 2.2 million .the amortization expense associated with acquired lease intangible assets increased by approximately $ 10.0 million .the acquisitions were accounted for in accordance with sfas 141 which requires the allocation of a portion of a property 2019s purchase price to intangible assets for leases acquired and in-place at the closing date of the acquisition .these intangible assets are amortized over the remaining life of the leases ( generally 3-5 years ) as compared to the building basis portion of the acquisition , which is depreciated over 40 years .service operations service operations primarily consist of our merchant building sales and the leasing , management , construction and development services for joint venture properties and properties owned by third parties .these operations are heavily influenced by the current state of the economy as leasing and management fees are dependent upon occupancy while construction and development services rely on businesses expanding operations .service operations earnings increased from $ 21.8 million in 2003 to $ 24.4 million in 2004 .the increase reflects higher construction volumes partially offset by increased staffing costs for our new national development and construction group and construction jobs in certain markets .other factors impacting service operations are discussed below .25cf we experienced a 1.6% ( 1.6 % ) decrease in our overall gross profit margin percentage in our general contractor business in 2004 as compared to 2003 , due to continued competitive pricing pressure in many of our markets .we expect margins to increase in 2005 as economic conditions improve .however , despite this decrease , we were able to increase our net general contractor revenues from $ 26.8 million in 2003 to $ 27.6 million in 2004 because of an increase in volume .this volume increase was attributable to continued low financing costs available to businesses , thereby making it more attractive for them to own instead of lease facilities .we have a substantial backlog of $ 183.2 million for third party construction as of december 31 , 2004 , that will carry into 2005 .25cf our merchant building development and sales program , whereby a building is developed by us and then sold , is a significant component of construction and development income .during 2004 , we generated after tax gains of $ 16.5 million from the sale of six properties compared to $ 9.6 million from the sale of four properties in 2003 .profit margins on these types of building sales fluctuate by sale depending on the type of property being sold , the strength of the underlying tenant and nature of the sale , such as a pre-contracted purchase price for a primary tenant versus a sale on the open market .general and administrative expense general and administrative expense increased from $ 22.1 million in 2003 to $ 26.4 million in 2004 .the increase was a result of increased staffing and employee compensation costs to support development of our national development and construction group .we also experienced an increase in marketing to support certain new projects .other income and expenses earnings from sales of land and ownership interests in unconsolidated companies , net of impairment adjustments , is comprised of the following amounts in 2004 and 2003 ( in thousands ) : .
[['', '2004', '2003'], ['gain on sale of joint venture interests', '$ 83', '$ 8617'], ['gain on land sales', '10543', '7695'], ['impairment adjustment', '-424 ( 424 )', '-560 ( 560 )'], ['total', '$ 10202', '$ 15752']]
in the first quarter of 2003 , we sold our 50% ( 50 % ) interest in a joint venture that owned and operated depreciable investment property .the joint venture developed and operated real estate assets ; thus , the gain was not included in operating income. .
|
10626
| 1,213 | 209 |
210 |
what is the net change in entergy texas 2019s receivables from the money pool from 2014 to 2015?
|
entergy texas , inc .and subsidiaries management 2019s financial discussion and analysis in addition to the contractual obligations given above , entergy texas expects to contribute approximately $ 17 million to its qualified pension plans and approximately $ 3.2 million to other postretirement health care and life insurance plans in 2017 , although the 2017 required pension contributions will be known with more certainty when the january 1 , 2017 valuations are completed , which is expected by april 1 , 2017 .see 201ccritical accounting estimates - qualified pension and other postretirement benefits 201d below for a discussion of qualified pension and other postretirement benefits funding .also in addition to the contractual obligations , entergy texas has $ 15.6 million of unrecognized tax benefits and interest net of unused tax attributes and payments for which the timing of payments beyond 12 months cannot be reasonably estimated due to uncertainties in the timing of effective settlement of tax positions .see note 3 to the financial statements for additional information regarding unrecognized tax benefits .in addition to routine capital spending to maintain operations , the planned capital investment estimate for entergy texas includes specific investments such as the montgomery county power station discussed below ; transmission projects to enhance reliability , reduce congestion , and enable economic growth ; distribution spending to enhance reliability and improve service to customers , including initial investment to support advanced metering ; system improvements ; and other investments .estimated capital expenditures are subject to periodic review and modification and may vary based on the ongoing effects of regulatory constraints and requirements , environmental compliance , business opportunities , market volatility , economic trends , business restructuring , changes in project plans , and the ability to access capital .management provides more information on long-term debt in note 5 to the financial statements .as discussed above in 201ccapital structure , 201d entergy texas routinely evaluates its ability to pay dividends to entergy corporation from its earnings .sources of capital entergy texas 2019s sources to meet its capital requirements include : 2022 internally generated funds ; 2022 cash on hand ; 2022 debt or preferred stock issuances ; and 2022 bank financing under new or existing facilities .entergy texas may refinance , redeem , or otherwise retire debt prior to maturity , to the extent market conditions and interest and dividend rates are favorable .all debt and common and preferred stock issuances by entergy texas require prior regulatory approval .debt issuances are also subject to issuance tests set forth in its bond indenture and other agreements .entergy texas has sufficient capacity under these tests to meet its foreseeable capital needs .entergy texas 2019s receivables from or ( payables to ) the money pool were as follows as of december 31 for each of the following years. .
[['2016', '2015', '2014', '2013'], ['( in thousands )', '( in thousands )', '( in thousands )', '( in thousands )'], ['$ 681', '( $ 22068 )', '$ 306', '$ 6287']]
see note 4 to the financial statements for a description of the money pool .entergy texas has a credit facility in the amount of $ 150 million scheduled to expire in august 2021 .the credit facility allows entergy texas to issue letters of credit against 50% ( 50 % ) of the borrowing capacity of the facility .as of december 31 , 2016 , there were no cash borrowings and $ 4.7 million of letters of credit outstanding under the credit facility .in addition , entergy texas is a party to an uncommitted letter of credit facility as a means to post collateral .
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-22374
| 848 | 210 |
211 |
what were operating expenses in 2004?
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year ended december 31 , 2004 compared to year ended december 31 , 2003 the historical results of operations of pca for the years ended december 31 , 2004 and 2003 are set forth below : for the year ended december 31 , ( in millions ) 2004 2003 change .
[['( in millions )', 'for the year ended december 31 , 2004', 'for the year ended december 31 , 2003', 'change'], ['net sales', '$ 1890.1', '$ 1735.5', '$ 154.6'], ['income before interest and taxes', '$ 140.5', '$ 96.9', '$ 43.6'], ['interest expense net', '-29.6 ( 29.6 )', '-121.8 ( 121.8 )', '92.2'], ['income ( loss ) before taxes', '110.9', '-24.9 ( 24.9 )', '135.8'], ['( provision ) benefit for income taxes', '-42.2 ( 42.2 )', '10.5', '-52.7 ( 52.7 )'], ['net income ( loss )', '$ 68.7', '$ -14.4 ( 14.4 )', '$ 83.1']]
net sales net sales increased by $ 154.6 million , or 8.9% ( 8.9 % ) , for the year ended december 31 , 2004 from the year ended december 31 , 2003 .net sales increased due to improved sales volumes and prices of corrugated products and containerboard compared to 2003 .total corrugated products volume sold increased 6.6% ( 6.6 % ) to 29.9 billion square feet in 2004 compared to 28.1 billion square feet in 2003 .on a comparable shipment-per-workday basis , corrugated products sales volume increased 7.0% ( 7.0 % ) in 2004 from 2003 .excluding pca 2019s acquisition of acorn in february 2004 , corrugated products volume was 5.3% ( 5.3 % ) higher in 2004 than 2003 and up 5.8% ( 5.8 % ) compared to 2003 on a shipment-per-workday basis .shipments-per-workday is calculated by dividing our total corrugated products volume during the year by the number of workdays within the year .the larger percentage increase was due to the fact that 2004 had one less workday ( 251 days ) , those days not falling on a weekend or holiday , than 2003 ( 252 days ) .containerboard sales volume to external domestic and export customers increased 6.8% ( 6.8 % ) to 475000 tons for the year ended december 31 , 2004 from 445000 tons in 2003 .income before interest and taxes income before interest and taxes increased by $ 43.6 million , or 45.1% ( 45.1 % ) , for the year ended december 31 , 2004 compared to 2003 .included in income before interest and taxes for the year ended december 31 , 2004 is income of $ 27.8 million , net of expenses , attributable to a dividend paid to pca by stv , the timberlands joint venture in which pca owns a 311 20443% ( 20443 % ) ownership interest .included in income before interest and taxes for the year ended december 31 , 2003 is a $ 3.3 million charge for fees and expenses related to the company 2019s debt refinancing which was completed in july 2003 , and a fourth quarter charge of $ 16.0 million to settle certain benefits related matters with pactiv corporation dating back to april 12 , 1999 when pca became a stand-alone company , as described below .during the fourth quarter of 2003 , pactiv notified pca that we owed pactiv additional amounts for hourly pension benefits and workers 2019 compensation liabilities dating back to april 12 , 1999 .a settlement of $ 16.0 million was negotiated between pactiv and pca in december 2003 .the full amount of the settlement was accrued in the fourth quarter of 2003 .excluding these special items , operating income decreased $ 3.4 million in 2004 compared to 2003 .the $ 3.4 million decrease in income before interest and taxes was primarily attributable to increased energy and transportation costs ( $ 19.2 million ) , higher recycled and wood fiber costs ( $ 16.7 million ) , increased salary expenses related to annual increases and new hires ( $ 5.7 million ) , and increased contractual hourly labor costs ( $ 5.6 million ) , which was partially offset by increased sales volume and sales prices ( $ 44.3 million ) . .
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1749.6
| 1,222 | 211 |
212 |
what is the total combined royalty fees for years ended 2006-2008 , in millions?
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15 .leases in january 1996 , the company entered into a lease agreement with an unrelated third party for a new corporate office facility , which the company occupied in february 1997 .in may 2004 , the company entered into the first amendment to this lease agreement , effective january 1 , 2004 .the lease was extended from an original period of 10 years , with an option for five additional years , to a period of 18 years from the inception date , with an option for five additional years .the company incurred lease rental expense related to this facility of $ 1.3 million in 2008 , 2007 and 2006 .the future minimum lease payments are $ 1.4 million per annum from january 1 , 2009 to december 31 , 2014 .the future minimum lease payments from january 1 , 2015 through december 31 , 2019 will be determined based on prevailing market rental rates at the time of the extension , if elected .the amended lease also provided for the lessor to reimburse the company for up to $ 550000 in building refurbishments completed through march 31 , 2006 .these amounts have been recorded as a reduction of lease expense over the remaining term of the lease .the company has also entered into various noncancellable operating leases for equipment and office space .office space lease expense totaled $ 9.3 million , $ 6.3 million and $ 4.7 million for the years ended december 31 , 2008 , 2007 and 2006 , respectively .future minimum lease payments under noncancellable operating leases for office space in effect at december 31 , 2008 are $ 8.8 million in 2009 , $ 6.6 million in 2010 , $ 3.0 million in 2011 , $ 1.8 million in 2012 and $ 1.1 million in 2013 .16 .royalty agreements the company has entered into various renewable , nonexclusive license agreements under which the company has been granted access to the licensor 2019s technology and the right to sell the technology in the company 2019s product line .royalties are payable to developers of the software at various rates and amounts , which generally are based upon unit sales or revenue .royalty fees are reported in cost of goods sold and were $ 6.3 million , $ 5.2 million and $ 3.9 million for the years ended december 31 , 2008 , 2007 and 2006 , respectively .17 .geographic information revenue to external customers is attributed to individual countries based upon the location of the customer .revenue by geographic area is as follows: .
[['( in thousands )', 'year ended december 31 , 2008', 'year ended december 31 , 2007', 'year ended december 31 , 2006'], ['united states', '$ 151688', '$ 131777', '$ 94282'], ['germany', '68390', '50973', '34567'], ['japan', '66960', '50896', '35391'], ['canada', '8033', '4809', '4255'], ['other european', '127246', '108971', '70184'], ['other international', '56022', '37914', '24961'], ['total revenue', '$ 478339', '$ 385340', '$ 263640']]
.
|
15.4
| 901 | 212 |
213 |
in millions , what is the average operating expenses from 2008-2010?
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operating expenses millions 2010 2009 2008 % ( % ) change 2010 v 2009 % ( % ) change 2009 v 2008 .
[['millions', '2010', '2009', '2008', '% ( % ) change 2010 v 2009', '% ( % ) change2009 v 2008'], ['compensation and benefits', '$ 4314', '$ 4063', '$ 4457', '6% ( 6 % )', '( 9 ) % ( % )'], ['fuel', '2486', '1763', '3983', '41', '-56 ( 56 )'], ['purchased services and materials', '1836', '1644', '1928', '12', '-15 ( 15 )'], ['depreciation', '1487', '1427', '1366', '4', '4'], ['equipment and other rents', '1142', '1180', '1326', '-3 ( 3 )', '-11 ( 11 )'], ['other', '719', '687', '840', '5', '-18 ( 18 )'], ['total', '$ 11984', '$ 10764', '$ 13900', '11% ( 11 % )', '( 23 ) % ( % )']]
operating expenses increased $ 1.2 billion in 2010 versus 2009 .our fuel price per gallon increased 31% ( 31 % ) during the year , accounting for $ 566 million of the increase .wage and benefit inflation , depreciation , volume-related costs , and property taxes also contributed to higher expenses during 2010 compared to 2009 .cost savings from productivity improvements and better resource utilization partially offset these increases .operating expenses decreased $ 3.1 billion in 2009 versus 2008 .our fuel price per gallon declined 44% ( 44 % ) during 2009 , decreasing operating expenses by $ 1.3 billion compared to 2008 .cost savings from lower volume , productivity improvements , and better resource utilization also decreased operating expenses in 2009 .in addition , lower casualty expense resulting primarily from improving trends in safety performance decreased operating expenses in 2009 .conversely , wage and benefit inflation partially offset these reductions .compensation and benefits 2013 compensation and benefits include wages , payroll taxes , health and welfare costs , pension costs , other postretirement benefits , and incentive costs .general wage and benefit inflation increased costs by approximately $ 190 million in 2010 compared to 2009 .volume- related expenses and higher equity and incentive compensation also drove costs up during the year .workforce levels declined 1% ( 1 % ) in 2010 compared to 2009 as network efficiencies and ongoing productivity initiatives enabled us to effectively handle the 13% ( 13 % ) increase in volume levels with fewer employees .lower volume and productivity initiatives led to a 10% ( 10 % ) decline in our workforce in 2009 compared to 2008 , saving $ 516 million during the year .conversely , general wage and benefit inflation increased expenses , partially offsetting these savings .fuel 2013 fuel includes locomotive fuel and gasoline for highway and non-highway vehicles and heavy equipment .higher diesel fuel prices , which averaged $ 2.29 per gallon ( including taxes and transportation costs ) in 2010 compared to $ 1.75 per gallon in 2009 , increased expenses by $ 566 million .volume , as measured by gross ton-miles , increased 10% ( 10 % ) in 2010 versus 2009 , driving fuel expense up by $ 166 million .conversely , the use of newer , more fuel efficient locomotives , our fuel conservation programs and efficient network operations drove a 3% ( 3 % ) improvement in our fuel consumption rate in 2010 , resulting in $ 40 million of cost savings versus 2009 at the 2009 average fuel price .lower diesel fuel prices , which averaged $ 1.75 per gallon ( including taxes and transportation costs ) in 2009 compared to $ 3.15 per gallon in 2008 , reduced expenses by $ 1.3 billion in 2009 .volume , as measured by gross ton-miles , decreased 17% ( 17 % ) in 2009 , lowering expenses by $ 664 million compared to 2008 .our fuel consumption rate improved 4% ( 4 % ) in 2009 , resulting in $ 147 million of cost savings versus 2008 at the 2008 average fuel price .the consumption rate savings versus 2008 using the lower 2009 fuel price was $ 68 million .newer , more fuel efficient locomotives , reflecting locomotive acquisitions in recent years and the impact of a smaller fleet due to storage of some of our older locomotives ; increased use of 2010 operating expenses .
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12216
| 1,262 | 213 |
214 |
based on the table , how much more square feet is owned outside the united states?
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item 2 : properties information concerning applied's properties at october 25 , 2015 is set forth below: .
[['( square feet in thousands )', 'united states', 'other countries', 'total'], ['owned', '3748', '1624', '5372'], ['leased', '556', '1107', '1663'], ['total', '4304', '2731', '7035']]
because of the interrelation of applied's operations , properties within a country may be shared by the segments operating within that country .the company's headquarters offices are in santa clara , california .products in silicon systems are manufactured in austin , texas ; gloucester , massachusetts ; rehovot , israel ; and singapore .remanufactured equipment products in the applied global services segment are produced primarily in austin , texas .products in the display segment are manufactured in tainan , taiwan and santa clara , california .products in the energy and environmental solutions segment are primarily manufactured in alzenau , germany and treviso , italy .applied also owns and leases offices , plants and warehouse locations in many locations throughout the world , including in europe , japan , north america ( principally the united states ) , israel , china , india , korea , southeast asia and taiwan .these facilities are principally used for manufacturing ; research , development and engineering ; and marketing , sales and customer support .applied also owns a total of approximately 139 acres of buildable land in texas , california , israel and italy that could accommodate additional building space .applied considers the properties that it owns or leases as adequate to meet its current and future requirements .applied regularly assesses the size , capability and location of its global infrastructure and periodically makes adjustments based on these assessments. .
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2731 thousand square feet .
| 419 | 214 |
215 |
for 2009 , what was the net reserve allowance on the prime mortgage and option arm pools of loans , in millions?\\n
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notes to consolidated financial statements jpmorgan chase & co./2009 annual report 204 on the amount of interest income recognized in the firm 2019s consolidated statements of income since that date .( b ) other changes in expected cash flows include the net impact of changes in esti- mated prepayments and reclassifications to the nonaccretable difference .on a quarterly basis , the firm updates the amount of loan principal and interest cash flows expected to be collected , incorporating assumptions regarding default rates , loss severities , the amounts and timing of prepayments and other factors that are reflective of current market conditions .probable decreases in expected loan principal cash flows trigger the recognition of impairment , which is then measured as the present value of the expected principal loss plus any related foregone interest cash flows discounted at the pool 2019s effective interest rate .impairments that occur after the acquisition date are recognized through the provision and allow- ance for loan losses .probable and significant increases in expected principal cash flows would first reverse any previously recorded allowance for loan losses ; any remaining increases are recognized prospectively as interest income .the impacts of ( i ) prepayments , ( ii ) changes in variable interest rates , and ( iii ) any other changes in the timing of expected cash flows are recognized prospectively as adjustments to interest income .disposals of loans , which may include sales of loans , receipt of payments in full by the borrower , or foreclosure , result in removal of the loan from the purchased credit-impaired portfolio .if the timing and/or amounts of expected cash flows on these purchased credit-impaired loans were determined not to be rea- sonably estimable , no interest would be accreted and the loans would be reported as nonperforming loans ; however , since the timing and amounts of expected cash flows for these purchased credit-impaired loans are reasonably estimable , interest is being accreted and the loans are being reported as performing loans .charge-offs are not recorded on purchased credit-impaired loans until actual losses exceed the estimated losses that were recorded as purchase accounting adjustments at acquisition date .to date , no charge-offs have been recorded for these loans .purchased credit-impaired loans acquired in the washington mu- tual transaction are reported in loans on the firm 2019s consolidated balance sheets .in 2009 , an allowance for loan losses of $ 1.6 billion was recorded for the prime mortgage and option arm pools of loans .the net aggregate carrying amount of the pools that have an allowance for loan losses was $ 47.2 billion at december 31 , 2009 .this allowance for loan losses is reported as a reduction of the carrying amount of the loans in the table below .the table below provides additional information about these pur- chased credit-impaired consumer loans. .
[['december 31 ( in millions )', '2009', '2008'], ['outstanding balance ( a )', '$ 103369', '$ 118180'], ['carrying amount', '79664', '88813']]
( a ) represents the sum of contractual principal , interest and fees earned at the reporting date .purchased credit-impaired loans are also being modified under the mha programs and the firm 2019s other loss mitigation programs .for these loans , the impact of the modification is incorporated into the firm 2019s quarterly assessment of whether a probable and/or signifi- cant change in estimated future cash flows has occurred , and the loans continue to be accounted for as and reported as purchased credit-impaired loans .foreclosed property the firm acquires property from borrowers through loan restructur- ings , workouts , and foreclosures , which is recorded in other assets on the consolidated balance sheets .property acquired may include real property ( e.g. , land , buildings , and fixtures ) and commercial and personal property ( e.g. , aircraft , railcars , and ships ) .acquired property is valued at fair value less costs to sell at acquisition .each quarter the fair value of the acquired property is reviewed and adjusted , if necessary .any adjustments to fair value in the first 90 days are charged to the allowance for loan losses and thereafter adjustments are charged/credited to noninterest revenue 2013other .operating expense , such as real estate taxes and maintenance , are charged to other expense .note 14 2013 allowance for credit losses the allowance for loan losses includes an asset-specific component , a formula-based component and a component related to purchased credit-impaired loans .the asset-specific component relates to loans considered to be impaired , which includes any loans that have been modified in a troubled debt restructuring as well as risk-rated loans that have been placed on nonaccrual status .an asset-specific allowance for impaired loans is established when the loan 2019s discounted cash flows ( or , when available , the loan 2019s observable market price ) is lower than the recorded investment in the loan .to compute the asset-specific component of the allowance , larger loans are evaluated individually , while smaller loans are evaluated as pools using historical loss experience for the respective class of assets .risk-rated loans ( primarily wholesale loans ) are pooled by risk rating , while scored loans ( i.e. , consumer loans ) are pooled by product type .the firm generally measures the asset-specific allowance as the difference between the recorded investment in the loan and the present value of the cash flows expected to be collected , dis- counted at the loan 2019s original effective interest rate .subsequent changes in measured impairment due to the impact of discounting are reported as an adjustment to the provision for loan losses , not as an adjustment to interest income .an asset-specific allowance for an impaired loan with an observable market price is measured as the difference between the recorded investment in the loan and the loan 2019s fair value .certain impaired loans that are determined to be collateral- dependent are charged-off to the fair value of the collateral less costs to sell .when collateral-dependent commercial real-estate loans are determined to be impaired , updated appraisals are typi- cally obtained and updated every six to twelve months .the firm also considers both borrower- and market-specific factors , which .
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23705
| 1,344 | 215 |
216 |
between 2008 and 2007 , what was the change in net interest income in millions?
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consolidated income statement review our consolidated income statement is presented in item 8 of this report .net income for 2008 was $ 882 million and for 2007 was $ 1.467 billion .total revenue for 2008 increased 7% ( 7 % ) compared with 2007 .we created positive operating leverage in the year-to-date comparison as total noninterest expense increased 3% ( 3 % ) in the comparison .net interest income and net interest margin year ended december 31 dollars in millions 2008 2007 .
[['year ended december 31 dollars in millions', '2008', '2007'], ['net interest income', '$ 3823', '$ 2915'], ['net interest margin', '3.37% ( 3.37 % )', '3.00% ( 3.00 % )']]
changes in net interest income and margin result from the interaction of the volume and composition of interest-earning assets and related yields , interest-bearing liabilities and related rates paid , and noninterest-bearing sources of funding .see statistical information 2013 analysis of year-to-year changes in net interest ( unaudited ) income and average consolidated balance sheet and net interest analysis in item 8 of this report for additional information .the 31% ( 31 % ) increase in net interest income for 2008 compared with 2007 was favorably impacted by the $ 16.5 billion , or 17% ( 17 % ) , increase in average interest-earning assets and a decrease in funding costs .the 2008 net interest margin was positively affected by declining rates paid on deposits and borrowings compared with the prior year .the reasons driving the higher interest-earning assets in these comparisons are further discussed in the balance sheet highlights portion of the executive summary section of this item 7 .the net interest margin was 3.37% ( 3.37 % ) for 2008 and 3.00% ( 3.00 % ) for 2007 .the following factors impacted the comparison : 2022 a decrease in the rate paid on interest-bearing liabilities of 140 basis points .the rate paid on interest-bearing deposits , the single largest component , decreased 123 basis points .2022 these factors were partially offset by a 77 basis point decrease in the yield on interest-earning assets .the yield on loans , the single largest component , decreased 109 basis points .2022 in addition , the impact of noninterest-bearing sources of funding decreased 26 basis points due to lower interest rates and a lower proportion of noninterest- bearing sources of funding to interest-earning assets .for comparing to the broader market , during 2008 the average federal funds rate was 1.94% ( 1.94 % ) compared with 5.03% ( 5.03 % ) for 2007 .we expect our full-year 2009 net interest income to benefit from the impact of interest accretion of discounts resulting from purchase accounting marks and deposit pricing alignment related to our national city acquisition .we also currently expect our 2009 net interest margin to improve on a year-over-year basis .noninterest income summary noninterest income was $ 3.367 billion for 2008 and $ 3.790 billion for 2007 .noninterest income for 2008 included the following : 2022 gains of $ 246 million related to the mark-to-market adjustment on our blackrock ltip shares obligation , 2022 losses related to our commercial mortgage loans held for sale of $ 197 million , net of hedges , 2022 impairment and other losses related to alternative investments of $ 179 million , 2022 income from hilliard lyons totaling $ 164 million , including the first quarter gain of $ 114 million from the sale of this business , 2022 net securities losses of $ 206 million , 2022 a first quarter gain of $ 95 million related to the redemption of a portion of our visa class b common shares related to visa 2019s march 2008 initial public offering , 2022 a third quarter $ 61 million reversal of a legal contingency reserve established in connection with an acquisition due to a settlement , 2022 trading losses of $ 55 million , 2022 a $ 35 million impairment charge on commercial mortgage servicing rights , and 2022 equity management losses of $ 24 million .noninterest income for 2007 included the following : 2022 the impact of $ 82 million gain recognized in connection with our transfer of blackrock shares to satisfy a portion of pnc 2019s ltip obligation and a $ 209 million net loss on our ltip shares obligation , 2022 income from hilliard lyons totaling $ 227 million , 2022 trading income of $ 104 million , 2022 equity management gains of $ 102 million , and 2022 gains related to our commercial mortgage loans held for sale of $ 3 million , net of hedges .apart from the impact of these items , noninterest income increased $ 16 million in 2008 compared with 2007 .additional analysis fund servicing fees increased $ 69 million in 2008 , to $ 904 million , compared with $ 835 million in 2007 .the impact of the december 2007 acquisition of albridge solutions inc .( 201calbridge solutions 201d ) and growth in global investment servicing 2019s offshore operations were the primary drivers of this increase .global investment servicing provided fund accounting/ administration services for $ 839 billion of net fund investment assets and provided custody services for $ 379 billion of fund .
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908
| 1,373 | 216 |
217 |
what was the implied value as of june 2018 for eletropaulo , in millions?
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the aes corporation notes to consolidated financial statements 2014 ( continued ) december 31 , 2018 , 2017 , and 2016 the following is a reconciliation of the beginning and ending amounts of unrecognized tax benefits for the periods indicated ( in millions ) : .
[['', '2018', '2017', '2016'], ['balance at january 1', '$ 348', '$ 352', '$ 364'], ['additions for current year tax positions', '2', '2014', '2'], ['additions for tax positions of prior years', '146', '2', '1'], ['reductions for tax positions of prior years', '( 26 )', '( 5 )', '( 1 )'], ['settlements', '2014', '2014', '( 13 )'], ['lapse of statute of limitations', '( 7 )', '( 1 )', '( 1 )'], ['balance at december 31', '$ 463', '$ 348', '$ 352']]
the company and certain of its subsidiaries are currently under examination by the relevant taxing authorities for various tax years .the company regularly assesses the potential outcome of these examinations in each of the taxing jurisdictions when determining the adequacy of the amount of unrecognized tax benefit recorded .while it is often difficult to predict the final outcome or the timing of resolution of any particular uncertain tax position , we believe we have appropriately accrued for our uncertain tax benefits .however , audit outcomes and the timing of audit settlements and future events that would impact our previously recorded unrecognized tax benefits and the range of anticipated increases or decreases in unrecognized tax benefits are subject to significant uncertainty .it is possible that the ultimate outcome of current or future examinations may exceed our provision for current unrecognized tax benefits in amounts that could be material , but cannot be estimated as of december 31 , 2018 .our effective tax rate and net income in any given future period could therefore be materially impacted .22 .discontinued operations due to a portfolio evaluation in the first half of 2016 , management decided to pursue a strategic shift of its distribution companies in brazil , sul and eletropaulo , to reduce the company's exposure to the brazilian distribution market .the disposals of sul and eletropaulo were completed in october 2016 and june 2018 , respectively .eletropaulo 2014 in november 2017 , eletropaulo converted its preferred shares into ordinary shares and transitioned the listing of those shares to the novo mercado , which is a listing segment of the brazilian stock exchange with the highest standards of corporate governance .upon conversion of the preferred shares into ordinary shares , aes no longer controlled eletropaulo , but maintained significant influence over the business .as a result , the company deconsolidated eletropaulo .after deconsolidation , the company's 17% ( 17 % ) ownership interest was reflected as an equity method investment .the company recorded an after-tax loss on deconsolidation of $ 611 million , which primarily consisted of $ 455 million related to cumulative translation losses and $ 243 million related to pension losses reclassified from aocl .in december 2017 , all the remaining criteria were met for eletropaulo to qualify as a discontinued operation .therefore , its results of operations and financial position were reported as such in the consolidated financial statements for all periods presented .in june 2018 , the company completed the sale of its entire 17% ( 17 % ) ownership interest in eletropaulo through a bidding process hosted by the brazilian securities regulator , cvm .gross proceeds of $ 340 million were received at our subsidiary in brazil , subject to the payment of taxes .upon disposal of eletropaulo , the company recorded a pre-tax gain on sale of $ 243 million ( after-tax $ 199 million ) .excluding the gain on sale , eletropaulo's pre-tax loss attributable to aes was immaterial for the year ended december 31 , 2018 .eletropaulo's pre-tax loss attributable to aes , including the loss on deconsolidation , for the years ended december 31 , 2017 and 2016 was $ 633 million and $ 192 million , respectively .prior to its classification as discontinued operations , eletropaulo was reported in the south america sbu reportable segment .sul 2014 the company executed an agreement for the sale of sul , a wholly-owned subsidiary , in june 2016 .the results of operations and financial position of sul are reported as discontinued operations in the consolidated financial statements for all periods presented .upon meeting the held-for-sale criteria , the company recognized an after-tax loss of $ 382 million comprised of a pre-tax impairment charge of $ 783 million , offset by a tax benefit of $ 266 million related to the impairment of the sul long lived assets and a tax benefit of $ 135 million for deferred taxes related to the investment in sul .prior to the impairment charge , the carrying value of the sul asset group of $ 1.6 billion was greater than its approximate fair value less costs to sell .however , the impairment charge was limited to the carrying value of the long lived assets of the sul disposal group. .
|
2000
| 1,217 | 217 |
218 |
what is the depreciation expense with the production facilities within the electronics and performance materials segment accumulated in 10 years?
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the depreciable lives of production facilities within the merchant gases segment are principally 15 years .customer contracts associated with products produced at these types of facilities typically have a much shorter term .the depreciable lives of production facilities within the electronics and performance materials segment , where there is not an associated long-term supply agreement , range from 10 to 15 years .these depreciable lives have been determined based on historical experience combined with judgment on future assumptions such as technological advances , potential obsolescence , competitors 2019 actions , etc .management monitors its assumptions and may potentially need to adjust depreciable life as circumstances change .a change in the depreciable life by one year for production facilities within the merchant gases and electronics and performance materials segments for which there is not an associated long-term customer supply agreement would impact annual depreciation expense as summarized below : decrease life by 1 year increase life by 1 year .
[['', 'decrease lifeby 1 year', 'increase life by 1 year'], ['merchant gases', '$ 30', '$ -20 ( 20 )'], ['electronics and performance materials', '$ 16', '$ -10 ( 10 )']]
impairment of assets plant and equipment plant and equipment held for use is grouped for impairment testing at the lowest level for which there are identifiable cash flows .impairment testing of the asset group occurs whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable .such circumstances would include a significant decrease in the market value of a long-lived asset grouping , a significant adverse change in the manner in which the asset grouping is being used or in its physical condition , a history of operating or cash flow losses associated with the use of the asset grouping , or changes in the expected useful life of the long-lived assets .if such circumstances are determined to exist , an estimate of undiscounted future cash flows produced by that asset group is compared to the carrying value to determine whether impairment exists .if an asset group is determined to be impaired , the loss is measured based on the difference between the asset group 2019s fair value and its carrying value .an estimate of the asset group 2019s fair value is based on the discounted value of its estimated cash flows .assets to be disposed of by sale are reported at the lower of carrying amount or fair value less cost to sell .the assumptions underlying cash flow projections represent management 2019s best estimates at the time of the impairment review .factors that management must estimate include industry and market conditions , sales volume and prices , costs to produce , inflation , etc .changes in key assumptions or actual conditions that differ from estimates could result in an impairment charge .we use reasonable and supportable assumptions when performing impairment reviews and cannot predict the occurrence of future events and circumstances that could result in impairment charges .goodwill the acquisition method of accounting for business combinations currently requires us to make use of estimates and judgments to allocate the purchase price paid for acquisitions to the fair value of the net tangible and identifiable intangible assets .goodwill represents the excess of the aggregate purchase price over the fair value of net assets of an acquired entity .goodwill , including goodwill associated with equity affiliates of $ 126.4 , was $ 1780.2 as of 30 september 2013 .the majority of our goodwill is assigned to reporting units within the merchant gases and electronics and performance materials segments .goodwill increased in 2013 , primarily as a result of the epco and wcg acquisitions in merchant gases during the third quarter .disclosures related to goodwill are included in note 10 , goodwill , to the consolidated financial statements .we perform an impairment test annually in the fourth quarter of the fiscal year .in addition , goodwill would be tested more frequently if changes in circumstances or the occurrence of events indicated that potential impairment exists .the tests are done at the reporting unit level , which is defined as one level below the operating segment for which discrete financial information is available and whose operating results are reviewed by segment managers regularly .currently , we have four business segments and thirteen reporting units .reporting units are primarily based on products and geographic locations within each business segment .as part of the goodwill impairment testing , and as permitted under the accounting guidance , we have the option to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value .if we choose not to complete a qualitative assessment for a given reporting unit , or if the .
|
100
| 965 | 218 |
219 |
what was the average cash provided by the continuing operations from 2004 to 2006 in billions
|
will no longer be significant contributors to business operating results , while expenses should also decline significantly reflecting the reduced level of operations .operating earnings will primarily consist of retail forestland and real estate sales of remaining acreage .specialty businesses and other the specialty businesses and other segment includes the results of the arizona chemical business and certain divested businesses whose results are included in this segment for periods prior to their sale or closure .this segment 2019s 2006 net sales increased 2% ( 2 % ) from 2005 , but declined 17% ( 17 % ) from 2004 .operating profits in 2006 were up substantially from both 2005 and 2004 .the decline in sales compared with 2004 principally reflects declining contributions from businesses sold or closed .specialty businesses and other in millions 2006 2005 2004 .
[['in millions', '2006', '2005', '2004'], ['sales', '$ 935', '$ 915', '$ 1120'], ['operating profit', '$ 61', '$ 4', '$ 38']]
arizona chemical sales were $ 769 million in 2006 , compared with $ 692 million in 2005 and $ 672 million in 2004 .sales volumes declined in 2006 compared with 2005 , but average sales price realiza- tions in 2006 were higher in both the united states and europe .operating earnings in 2006 were sig- nificantly higher than in 2005 and more than 49% ( 49 % ) higher than in 2004 .the increase over 2005 reflects the impact of the higher average sales price realiza- tions and lower manufacturing costs , partially offset by higher prices for crude tall oil ( cto ) .earnings for 2005 also included a $ 13 million charge related to a plant shutdown in norway .other businesses in this operating segment include operations that have been sold , closed or held for sale , primarily the polyrey business in france and , in prior years , the european distribution business .sales for these businesses were approximately $ 166 million in 2006 , compared with $ 223 million in 2005 and $ 448 million in 2004 .in december 2006 , the company entered into a definitive agreement to sell the arizona chemical business , expected to close in the first quarter of liquidity and capital resources overview a major factor in international paper 2019s liquidity and capital resource planning is its generation of operat- ing cash flow , which is highly sensitive to changes in the pricing and demand for our major products .while changes in key cash operating costs , such as energy and raw material costs , do have an effect on operating cash generation , we believe that our strong focus on cost controls has improved our cash flow generation over an operating cycle .as part of the continuing focus on improving our return on investment , we have focused our capital spending on improving our key paper and packaging businesses both globally and in north america .spending levels have been kept below the level of depreciation and amortization charges for each of the last three years , and we anticipate spending will again be slightly below depreciation and amor- tization in 2007 .financing activities in 2006 have been focused on the transformation plan objective of strengthening the balance sheet through repayment of debt , resulting in a net reduction in 2006 of $ 5.2 billion following a $ 1.7 billion net reduction in 2005 .additionally , we made a $ 1.0 billion voluntary cash contribution to our u.s .qualified pension plan in december 2006 to begin satisfying projected long-term funding requirements and to lower future pension expense .our liquidity position continues to be strong , with approximately $ 3.0 billion of committed liquidity to cover future short-term cash flow requirements not met by operating cash flows .management believes it is important for interna- tional paper to maintain an investment-grade credit rating to facilitate access to capital markets on favorable terms .at december 31 , 2006 , the com- pany held long-term credit ratings of bbb ( stable outlook ) and baa3 ( stable outlook ) from standard & poor 2019s and moody 2019s investor services , respectively .cash provided by operations cash provided by continuing operations totaled $ 1.0 billion for 2006 , compared with $ 1.2 billion for 2005 and $ 1.7 billion in 2004 .the 2006 amount is net of a $ 1.0 billion voluntary cash pension plan contribution made in the fourth quarter of 2006 .the major components of cash provided by continuing oper- ations are earnings from continuing operations .
|
1.3
| 1,113 | 219 |
220 |
considering the weighted average fair value of options , what was the decrease between shares that vested in 2006 and 2005?
|
the fair value for these options was estimated at the date of grant using a black-scholes option pricing model with the following weighted-average assumptions for 2006 , 2005 and 2004: .
[['', '2006', '2005', '2004'], ['weighted average fair value of options granted', '$ 20.01', '$ 9.48', '$ 7.28'], ['expected volatility', '0.3534', '0.3224', '0.3577'], ['distribution yield', '1.00% ( 1.00 % )', '0.98% ( 0.98 % )', '1.30% ( 1.30 % )'], ['expected life of options in years', '6.3', '6.3', '6.3'], ['risk-free interest rate', '5% ( 5 % )', '4% ( 4 % )', '4% ( 4 % )']]
the black-scholes option valuation model was developed for use in estimating the fair value of traded options which have no vesting restrictions and are fully transferable .in addition , option valuation models require the input of highly subjective assumptions , including the expected stock price volatility .because the company 2019s employee stock options have characteristics significantly different from those of traded options , and because changes in the subjective input assumptions can materially affect the fair value estimate , in management 2019s opinion , the existing models do not necessarily provide a reliable single measure of the fair value of its employee stock options .the total fair value of shares vested during 2006 , 2005 , and 2004 was $ 9413 , $ 8249 , and $ 6418 respectively .the aggregate intrinsic values of options outstanding and exercisable at december 30 , 2006 were $ 204.1 million and $ 100.2 million , respectively .the aggregate intrinsic value of options exercised during the year ended december 30 , 2006 was $ 42.8 million .aggregate intrinsic value represents the positive difference between the company 2019s closing stock price on the last trading day of the fiscal period , which was $ 55.66 on december 29 , 2006 , and the exercise price multiplied by the number of options outstanding .as of december 30 , 2006 , there was $ 64.2 million of total unrecognized compensation cost related to unvested share-based compensation awards granted to employees under the option plans .that cost is expected to be recognized over a period of five years .employee stock purchase plan the shareholders also adopted an employee stock purchase plan ( espp ) .up to 2000000 shares of common stock have been reserved for the espp .shares will be offered to employees at a price equal to the lesser of 85% ( 85 % ) of the fair market value of the stock on the date of purchase or 85% ( 85 % ) of the fair market value on the enrollment date .the espp is intended to qualify as an 201cemployee stock purchase plan 201d under section 423 of the internal revenue code .during 2006 , 2005 , and 2004 , 124693 , 112798 , and 117900 shares were purchased under the plan for a total purchase price of $ 3569 , $ 2824 , and $ 2691 , respectively .at december 30 , 2006 , approximately 1116811 shares were available for future issuance. .
|
400
| 872 | 220 |
221 |
what was the total of impairment charges associated with contracts to sell land parcels for the years ended december 31 , 2004 and 2003 , respectively .
|
gain on land sales are derived from sales of undeveloped land owned by us .we pursue opportunities to dispose of land in markets with a high concentration of undeveloped land and in those markets where the land no longer meets our strategic development plans .the increase was partially attributable to a land sale to a current corporate tenant for potential future expansion .we recorded $ 424000 and $ 560000 of impairment charges associated with contracts to sell land parcels for the years ended december 31 , 2004 and 2003 , respectively .as of december 31 , 2004 , only one parcel on which we recorded impairment charges is still owned by us .we anticipate selling this parcel in the first quarter of 2005 .discontinued operations we have classified operations of 86 buildings as discontinued operations as of december 31 , 2004 .these 86 buildings consist of 69 industrial , 12 office and five retail properties .as a result , we classified net income from operations , net of minority interest , of $ 1.6 million , $ 6.3 million and $ 10.7 million as net income from discontinued operations for the years ended december 31 , 2004 , 2003 and 2002 , respectively .in addition , 41 of the properties classified in discontinued operations were sold during 2004 , 42 properties were sold during 2003 , two properties were sold during 2002 and one operating property is classified as held-for-sale at december 31 , 2004 .the gains on disposal of these properties , net of impairment adjustment and minority interest , of $ 23.9 million and $ 11.8 million for the years ended december 31 , 2004 and 2003 , respectively , are also reported in discontinued operations .for the year ended december 31 , 2002 , a $ 4.5 million loss on disposal of properties , net of impairment adjustments and minority interest , is reported in discontinued operations due to impairment charges of $ 7.7 million recorded on three properties in 2002 that were later sold in 2003 and 2004 .comparison of year ended december 31 , 2003 to year ended december 31 , 2002 rental income from continuing operations rental income from continuing operations increased from $ 652.8 million in 2002 to $ 689.3 million in 2003 .the following table reconciles rental income by reportable segment to our total reported rental income from continuing operations for the years ended december 31 , 2003 and 2002 ( in thousands ) : .
[['', '2003', '2002'], ['office', '$ 419962', '$ 393810'], ['industrial', '259762', '250391'], ['retail', '5863', '4733'], ['other', '3756', '3893'], ['total', '$ 689343', '$ 652827']]
although our three reportable segments comprising rental operations ( office , industrial and retail ) are all within the real estate industry , they are not necessarily affected by the same economic and industry conditions .for example , our retail segment experienced high occupancies and strong overall performance during 2003 , while our office and industrial segments reflected the weaker economic environment for those property types .the primary causes of the increase in rental income from continuing operations , with specific references to a particular segment when applicable , are summarized below : 25cf during 2003 , in-service occupancy improved from 87.1% ( 87.1 % ) at the end of 2002 to 89.3% ( 89.3 % ) at the end of 2003 .the second half of 2003 was highlighted by a significant increase in the industrial portfolio occupancy of 2.1% ( 2.1 % ) along with a slight increase in office portfolio occupancy of 0.9% ( 0.9 % ) .25cf lease termination fees totaled $ 27.4 million in 2002 compared to $ 16.2 million in 2003 .most of this decrease was attributable to the office segment , which recognized $ 21.1 million of termination fees in 2002 as compared to $ 11.8 million in 2003 .lease termination fees relate to specific tenants that pay a fee to terminate their lease obligations before the end of the contractual lease term .the high volume of termination fees in 2002 was reflective of the contraction of the business of large office users during that year and their desire to downsize their use of office space .the decrease in termination fees for 2003 was indicative of an improving economy and a more stable financial position of our tenants .25cf during the year ended 2003 , we acquired $ 232 million of properties totaling 2.1 million square feet .the acquisitions were primarily class a office buildings in existing markets with overall occupancy near 90% ( 90 % ) .revenues associated with these acquisitions totaled $ 11.9 million in 2003 .in addition , revenues from 2002 acquisitions totaled $ 15.8 million in 2003 compared to $ 4.8 million in 2002 .this significant increase is primarily due to a large office acquisition that closed at the end of december 2002 .25cf developments placed in-service in 2003 provided revenues of $ 6.6 million , while revenues associated with developments placed in-service in 2002 totaled $ 13.7 million in 2003 compared to $ 4.7 million in 25cf proceeds from dispositions of held for rental properties totaled $ 126.1 million in 2003 , compared to $ 40.9 million in 2002 .these properties generated revenue of $ 12.5 million in 2003 versus $ 19.6 million in 2002 .equity in earnings of unconsolidated companies equity in earnings represents our ownership share of net income from investments in unconsolidated companies .these joint ventures generally own and operate rental properties and hold land for development .these earnings decreased from $ 27.2 million in 2002 to $ 23.7 million in 2003 .this decrease is a result of the following significant activity: .
|
984000
| 1,523 | 221 |
222 |
what was the debt to asset ratio in the eastern echo holding plc acquisition
|
part ii , item 8 fourth quarter of 2007 : 0160 schlumberger sold certain workover rigs for $ 32 million , resulting in a pretax gain of $ 24 million ( $ 17 million after-tax ) which is classified in interest and other income , net in the consolidated statement of income .4 .acquisitions acquisition of eastern echo holding plc on december 10 , 2007 , schlumberger completed the acquisition of eastern echo holding plc ( 201ceastern echo 201d ) for $ 838 million in cash .eastern echo was a dubai-based marine seismic company that did not have any operations at the time of acquisition , but had signed contracts for the construction of six seismic vessels .the purchase price has been allocated to the net assets acquired based upon their estimated fair values as follows : ( stated in millions ) .
[['cash and short-term investments', '$ 266'], ['other current assets', '23'], ['fixed income investments held to maturity', '54'], ['vessels under construction', '694'], ['accounts payable and accrued liabilities', '-17 ( 17 )'], ['long-term debt', '-182 ( 182 )'], ['total purchase price', '$ 838']]
other acquisitions schlumberger has made other acquisitions and minority interest investments , none of which were significant on an individual basis , for cash payments , net of cash acquired , of $ 514 million during 2009 , $ 345 million during 2008 , and $ 281 million during 2007 .pro forma results pertaining to the above acquisitions are not presented as the impact was not significant .5 .drilling fluids joint venture the mi-swaco drilling fluids joint venture is owned 40% ( 40 % ) by schlumberger and 60% ( 60 % ) by smith international , inc .schlumberger records income relating to this venture using the equity method of accounting .the carrying value of schlumberger 2019s investment in the joint venture on december 31 , 2009 and 2008 was $ 1.4 billion and $ 1.3 billion , respectively , and is included within investments in affiliated companies on the consolidated balance sheet .schlumberger 2019s equity income from this joint venture was $ 131 million in 2009 , $ 210 million in 2008 and $ 178 million in 2007 .schlumberger received cash distributions from the joint venture of $ 106 million in 2009 , $ 57 million in 2008 and $ 46 million in 2007 .the joint venture agreement contains a provision under which either party to the joint venture may offer to sell its entire interest in the venture to the other party at a cash purchase price per percentage interest specified in an offer notice .if the offer to sell is not accepted , the offering party will be obligated to purchase the entire interest of the other party at the same price per percentage interest as the prices specified in the offer notice. .
|
0.19
| 711 | 222 |
223 |
in 2009 what was the ratio of the interest to the liability
|
at december 31 , 2009 , aon had domestic federal operating loss carryforwards of $ 7 million that will expire at various dates from 2010 to 2024 , state operating loss carryforwards of $ 513 million that will expire at various dates from 2010 to 2028 , and foreign operating and capital loss carryforwards of $ 453 million and $ 252 million , respectively , nearly all of which are subject to indefinite carryforward .unrecognized tax benefits the following is a reconciliation of the company 2019s beginning and ending amount of unrecognized tax benefits ( in millions ) : .
[['', '2009', '2008'], ['balance at january 1', '$ 86', '$ 70'], ['additions based on tax positions related to the current year', '2', '5'], ['additions for tax positions of prior years', '5', '12'], ['reductions for tax positions of prior years', '-11 ( 11 )', '-11 ( 11 )'], ['settlements', '-10 ( 10 )', '-4 ( 4 )'], ['lapse of statute of limitations', '-3 ( 3 )', '-1 ( 1 )'], ['acquisitions', '6', '21'], ['foreign currency translation', '2', '-6 ( 6 )'], ['balance at december 31', '$ 77', '$ 86']]
as of december 31 , 2009 , $ 61 million of unrecognized tax benefits would impact the effective tax rate if recognized .aon does not expect the unrecognized tax positions to change significantly over the next twelve months .the company recognizes penalties and interest related to unrecognized income tax benefits in its provision for income taxes .aon accrued potential penalties of less than $ 1 million during each of 2009 , 2008 and 2007 .aon accrued interest of $ 2 million during 2009 and less than $ 1 million during both 2008 and 2007 .as of december 31 , 2009 and 2008 , aon has recorded a liability for penalties of $ 5 million and $ 4 million , respectively , and for interest of $ 18 million and $ 14 million , respectively .aon and its subsidiaries file income tax returns in the u.s .federal jurisdiction as well as various state and international jurisdictions .aon has substantially concluded all u.s .federal income tax matters for years through 2006 .material u.s .state and local income tax jurisdiction examinations have been concluded for years through 2002 .aon has concluded income tax examinations in its primary international jurisdictions through 2002. .
|
3.6
| 637 | 223 |
224 |
was the derivatives designated as hedging instruments under gaap greater than the derivatives not designated as hedging instruments under gaap for 2015?
|
in 2011 , we transferred approximately 1.3 million shares of blackrock series c preferred stock to blackrock in connection with our obligation .in 2013 , we transferred an additional .2 million shares to blackrock .at december 31 , 2015 , we held approximately 1.3 million shares of blackrock series c preferred stock which were available to fund our obligation in connection with the blackrock ltip programs .see note 24 subsequent events for information on our february 1 , 2016 transfer of 0.5 million shares of the series c preferred stock to blackrock to satisfy a portion of our ltip obligation .pnc accounts for its blackrock series c preferred stock at fair value , which offsets the impact of marking-to-market the obligation to deliver these shares to blackrock .the fair value of the blackrock series c preferred stock is included on our consolidated balance sheet in the caption other assets .additional information regarding the valuation of the blackrock series c preferred stock is included in note 7 fair value .note 14 financial derivatives we use derivative financial instruments ( derivatives ) primarily to help manage exposure to interest rate , market and credit risk and reduce the effects that changes in interest rates may have on net income , the fair value of assets and liabilities , and cash flows .we also enter into derivatives with customers to facilitate their risk management activities .derivatives represent contracts between parties that usually require little or no initial net investment and result in one party delivering cash or another type of asset to the other party based on a notional amount and an underlying as specified in the contract .derivative transactions are often measured in terms of notional amount , but this amount is generally not exchanged and it is not recorded on the balance sheet .the notional amount is the basis to which the underlying is applied to determine required payments under the derivative contract .the underlying is a referenced interest rate ( commonly libor ) , security price , credit spread or other index .residential and commercial real estate loan commitments associated with loans to be sold also qualify as derivative instruments .the following table presents the notional amounts and gross fair values of all derivative assets and liabilities held by pnc : table 111 : total gross derivatives .
[['in millions', 'december 31 2015 notional/contractamount', 'december 31 2015 assetfairvalue ( a )', 'december 31 2015 liabilityfairvalue ( b )', 'december 31 2015 notional/contractamount', 'december 31 2015 assetfairvalue ( a )', 'liabilityfairvalue ( b )'], ['derivatives designated as hedging instruments under gaap', '$ 52074', '$ 1159', '$ 174', '$ 49061', '$ 1261', '$ 186'], ['derivatives not designated as hedging instruments under gaap', '295902', '3782', '3628', '291256', '3973', '3841'], ['total gross derivatives', '$ 347976', '$ 4941', '$ 3802', '$ 340317', '$ 5234', '$ 4027']]
( a ) included in other assets on our consolidated balance sheet .( b ) included in other liabilities on our consolidated balance sheet .all derivatives are carried on our consolidated balance sheet at fair value .derivative balances are presented on the consolidated balance sheet on a net basis taking into consideration the effects of legally enforceable master netting agreements and , when appropriate , any related cash collateral exchanged with counterparties .further discussion regarding the offsetting rights associated with these legally enforceable master netting agreements is included in the offsetting , counterparty credit risk , and contingent features section below .any nonperformance risk , including credit risk , is included in the determination of the estimated net fair value of the derivatives .further discussion on how derivatives are accounted for is included in note 1 accounting policies .derivatives designated as hedging instruments under gaap certain derivatives used to manage interest rate and foreign exchange risk as part of our asset and liability risk management activities are designated as accounting hedges under gaap .derivatives hedging the risks associated with changes in the fair value of assets or liabilities are considered fair value hedges , derivatives hedging the variability of expected future cash flows are considered cash flow hedges , and derivatives hedging a net investment in a foreign subsidiary are considered net investment hedges .designating derivatives as accounting hedges allows for gains and losses on those derivatives , to the extent effective , to be recognized in the income statement in the same period the hedged items affect earnings .180 the pnc financial services group , inc .2013 form 10-k .
|
no
| 1,074 | 224 |
225 |
how much of the cost of the acquisition was not goodwill and intangible assets?
|
westrock company notes to consolidated financial statements fffd ( continued ) the following table summarizes the weighted average life and the allocation to intangible assets recognized in the mps acquisition , excluding goodwill ( in millions ) : weighted avg .amounts recognized as the acquisition .
[['', 'weighted avg.life', 'amountsrecognized as ofthe acquisitiondate'], ['customer relationships', '14.6', '$ 1008.7'], ['trademarks and tradenames', '3.0', '15.2'], ['photo library', '10.0', '2.5'], ['total', '14.4', '$ 1026.4']]
none of the intangibles has significant residual value .we are amortizing the customer relationship intangibles over estimated useful lives ranging from 13 to 16 years based on a straight-line basis because the amortization pattern was not reliably determinable .star pizza acquisition on march 13 , 2017 , we completed the star pizza acquisition .the transaction provided us with a leadership position in the fast growing small-run pizza box market and increases our vertical integration .the purchase price was $ 34.6 million , net of a $ 0.7 million working capital settlement .we have fully integrated the approximately 22000 tons of containerboard used by star pizza annually .we have included the financial results of the acquired assets since the date of the acquisition in our corrugated packaging segment .the purchase price allocation for the acquisition primarily included $ 24.8 million of customer relationship intangible assets and $ 2.2 million of goodwill .we are amortizing the customer relationship intangibles over 10 years based on a straight-line basis because the amortization pattern was not reliably determinable .the fair value assigned to goodwill is primarily attributable to buyer-specific synergies expected to arise after the acquisition ( e.g. , enhanced reach of the combined organization and other synergies ) , and the assembled work force .the goodwill and intangibles are amortizable for income tax purposes .packaging acquisition on january 19 , 2016 , we completed the packaging acquisition .the entities acquired provide value-added folding carton and litho-laminated display packaging solutions .the purchase price was $ 94.1 million , net of cash received of $ 1.7 million , a working capital settlement and a $ 3.5 million escrow receipt in the first quarter of fiscal 2017 .the transaction is subject to an election under section 338 ( h ) ( 10 ) of the code that increases the u.s .tax basis in the acquired u.s .entities .we believe the transaction has provided us with attractive and complementary customers , markets and facilities .we have included the financial results of the acquired entities since the date of the acquisition in our consumer packaging segment .the purchase price allocation for the acquisition primarily included $ 55.0 million of property , plant and equipment , $ 10.5 million of customer relationship intangible assets , $ 9.3 million of goodwill and $ 25.8 million of liabilities , including $ 1.3 million of debt .we are amortizing the customer relationship intangibles over estimated useful lives ranging from 9 to 15 years based on a straight-line basis because the amortization pattern was not reliably determinable .the fair value assigned to goodwill is primarily attributable to buyer-specific synergies expected to arise after the acquisition ( e.g. , enhanced reach of the combined organization and other synergies ) , and the assembled work force .the goodwill and intangibles of the u.s .entities are amortizable for income tax purposes .sp fiber on october 1 , 2015 , we completed the sp fiber acquisition in a stock purchase .the transaction included the acquisition of mills located in dublin , ga and newberg , or , which produce lightweight recycled containerboard and kraft and bag paper .the newberg mill also produced newsprint .as part of the transaction , we also acquired sp fiber's 48% ( 48 % ) interest in gps .gps is a joint venture providing steam to the dublin mill and electricity to georgia power .the purchase price was $ 278.8 million , net of cash received of $ 9.2 million and a working capital .
|
$ 7.6 million
| 930 | 225 |
226 |
was the impact of a decrease of 1% ( 1 % ) in the discount rate greater than the effect of a decrease of 1% ( 1 % ) in the long-term rate of return on plan assets?
|
the aes corporation notes to consolidated financial statements 2014 ( continued ) december 31 , 2012 , 2011 , and 2010 ( 1 ) a u.s .subsidiary of the company has a defined benefit obligation of $ 764 million and $ 679 million as of december 31 , 2012 and 2011 , respectively , and uses salary bands to determine future benefit costs rather than rates of compensation increases .rates of compensation increases in the table above do not include amounts related to this specific defined benefit plan .( 2 ) includes an inflation factor that is used to calculate future periodic benefit cost , but is not used to calculate the benefit obligation .the company establishes its estimated long-term return on plan assets considering various factors , which include the targeted asset allocation percentages , historic returns and expected future returns .the measurement of pension obligations , costs and liabilities is dependent on a variety of assumptions .these assumptions include estimates of the present value of projected future pension payments to all plan participants , taking into consideration the likelihood of potential future events such as salary increases and demographic experience .these assumptions may have an effect on the amount and timing of future contributions .the assumptions used in developing the required estimates include the following key factors : 2022 discount rates ; 2022 salary growth ; 2022 retirement rates ; 2022 inflation ; 2022 expected return on plan assets ; and 2022 mortality rates .the effects of actual results differing from the company 2019s assumptions are accumulated and amortized over future periods and , therefore , generally affect the company 2019s recognized expense in such future periods .sensitivity of the company 2019s pension funded status to the indicated increase or decrease in the discount rate and long-term rate of return on plan assets assumptions is shown below .note that these sensitivities may be asymmetric and are specific to the base conditions at year-end 2012 .they also may not be additive , so the impact of changing multiple factors simultaneously cannot be calculated by combining the individual sensitivities shown .the funded status as of december 31 , 2012 is affected by the assumptions as of that date .pension expense for 2012 is affected by the december 31 , 2011 assumptions .the impact on pension expense from a one percentage point change in these assumptions is shown in the table below ( in millions ) : .
[['increase of 1% ( 1 % ) in the discount rate', '$ -48 ( 48 )'], ['decrease of 1% ( 1 % ) in the discount rate', '38'], ['increase of 1% ( 1 % ) in the long-term rate of return on plan assets', '-47 ( 47 )'], ['decrease of 1% ( 1 % ) in the long-term rate of return on plan assets', '47']]
.
|
no
| 681 | 226 |
227 |
what is the increase in the dividend in total for the year of 2014?
|
stock performance graph * $ 100 invested on 11/17/11 in our stock or 10/31/11 in the relevant index , including reinvestment of dividends .fiscal year ending december 31 , 2013 .( 1 ) delphi automotive plc ( 2 ) s&p 500 2013 standard & poor 2019s 500 total return index ( 3 ) automotive supplier peer group 2013 russell 3000 auto parts index , including american axle & manufacturing , borgwarner inc. , cooper tire & rubber company , dana holding corp. , delphi automotive plc , dorman products inc. , federal-mogul corp. , ford motor co. , fuel systems solutions inc. , general motors co. , gentex corp. , gentherm inc. , genuine parts co. , johnson controls inc. , lkq corp. , lear corp. , meritor inc. , remy international inc. , standard motor products inc. , stoneridge inc. , superior industries international , trw automotive holdings corp. , tenneco inc. , tesla motors inc. , the goodyear tire & rubber co. , tower international inc. , visteon corp. , and wabco holdings inc .company index november 17 , december 31 , december 31 , december 31 .
[['company index', 'november 17 2011', 'december 31 2011', 'december 31 2012', 'december 31 2013'], ['delphi automotive plc ( 1 )', '$ 100.00', '$ 100.98', '$ 179.33', '$ 285.81'], ['s&p 500 ( 2 )', '100.00', '100.80', '116.93', '154.80'], ['automotive supplier peer group ( 3 )', '100.00', '89.27', '110.41', '166.46']]
dividends on february 26 , 2013 , the board of directors approved the initiation of dividend payments on the company's ordinary shares .the board of directors declared a regular quarterly cash dividend of $ 0.17 per ordinary share that was paid in each quarter of 2013 .in addition , in january 2014 , the board of directors declared a regular quarterly cash dividend of $ 0.25 per ordinary share , payable on february 27 , 2014 to shareholders of record at the close of business on february 18 , 2014 .in october 2011 , the board of managers of delphi automotive llp approved a distribution of approximately $ 95 million , which was paid on december 5 , 2011 , principally in respect of taxes , to members of delphi automotive llp who held membership interests as of the close of business on october 31 , 2011. .
|
$ 0.32
| 733 | 227 |
228 |
was the weighted average useful life for trademarks greater than that of acquired rights to use technology?
|
table of contents adobe inc .notes to consolidated financial statements ( continued ) goodwill , purchased intangibles and other long-lived assets goodwill is assigned to one or more reporting segments on the date of acquisition .we review our goodwill for impairment annually during our second quarter of each fiscal year and between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value of any one of our reporting units below its respective carrying amount .in performing our goodwill impairment test , we first perform a qualitative assessment , which requires that we consider events or circumstances including macroeconomic conditions , industry and market considerations , cost factors , overall financial performance , changes in management or key personnel , changes in strategy , changes in customers , changes in the composition or carrying amount of a reporting segment 2019s net assets and changes in our stock price .if , after assessing the totality of events or circumstances , we determine that it is more likely than not that the fair values of our reporting segments are greater than the carrying amounts , then the quantitative goodwill impairment test is not performed .if the qualitative assessment indicates that the quantitative analysis should be performed , we then evaluate goodwill for impairment by comparing the fair value of each of our reporting segments to its carrying value , including the associated goodwill .to determine the fair values , we use the equal weighting of the market approach based on comparable publicly traded companies in similar lines of businesses and the income approach based on estimated discounted future cash flows .our cash flow assumptions consider historical and forecasted revenue , operating costs and other relevant factors .we completed our annual goodwill impairment test in the second quarter of fiscal 2018 .we determined , after performing a qualitative review of each reporting segment , that it is more likely than not that the fair value of each of our reporting segments substantially exceeds the respective carrying amounts .accordingly , there was no indication of impairment and the quantitative goodwill impairment test was not performed .we did not identify any events or changes in circumstances since the performance of our annual goodwill impairment test that would require us to perform another goodwill impairment test during the fiscal year .we amortize intangible assets with finite lives over their estimated useful lives and review them for impairment whenever an impairment indicator exists .we continually monitor events and changes in circumstances that could indicate carrying amounts of our long-lived assets , including our intangible assets may not be recoverable .when such events or changes in circumstances occur , we assess recoverability by determining whether the carrying value of such assets will be recovered through the undiscounted expected future cash flows .if the future undiscounted cash flows are less than the carrying amount of these assets , we recognize an impairment loss based on any excess of the carrying amount over the fair value of the assets .we did not recognize any intangible asset impairment charges in fiscal 2018 , 2017 or 2016 .during fiscal 2018 , our intangible assets were amortized over their estimated useful lives ranging from 1 to 14 years .amortization is based on the pattern in which the economic benefits of the intangible asset will be consumed or on a straight-line basis when the consumption pattern is not apparent .the weighted average useful lives of our intangible assets were as follows : weighted average useful life ( years ) .
[['', 'weighted averageuseful life ( years )'], ['purchased technology', '6'], ['customer contracts and relationships', '9'], ['trademarks', '9'], ['acquired rights to use technology', '10'], ['backlog', '2'], ['other intangibles', '4']]
income taxes we use the asset and liability method of accounting for income taxes .under this method , income tax expense is recognized for the amount of taxes payable or refundable for the current year .in addition , deferred tax assets and liabilities are recognized for expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities , and for operating losses and tax credit carryforwards .we record a valuation allowance to reduce deferred tax assets to an amount for which realization is more likely than not. .
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no
| 852 | 228 |
229 |
based on the table , how much more square feet is owned outside the united states?
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item 2 : properties information concerning applied's properties at october 25 , 2015 is set forth below: .
[['( square feet in thousands )', 'united states', 'other countries', 'total'], ['owned', '3748', '1624', '5372'], ['leased', '556', '1107', '1663'], ['total', '4304', '2731', '7035']]
because of the interrelation of applied's operations , properties within a country may be shared by the segments operating within that country .the company's headquarters offices are in santa clara , california .products in silicon systems are manufactured in austin , texas ; gloucester , massachusetts ; rehovot , israel ; and singapore .remanufactured equipment products in the applied global services segment are produced primarily in austin , texas .products in the display segment are manufactured in tainan , taiwan and santa clara , california .products in the energy and environmental solutions segment are primarily manufactured in alzenau , germany and treviso , italy .applied also owns and leases offices , plants and warehouse locations in many locations throughout the world , including in europe , japan , north america ( principally the united states ) , israel , china , india , korea , southeast asia and taiwan .these facilities are principally used for manufacturing ; research , development and engineering ; and marketing , sales and customer support .applied also owns a total of approximately 139 acres of buildable land in texas , california , israel and italy that could accommodate additional building space .applied considers the properties that it owns or leases as adequate to meet its current and future requirements .applied regularly assesses the size , capability and location of its global infrastructure and periodically makes adjustments based on these assessments. .
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2731 thousand square feet .
| 419 | 229 |
230 |
what was the market cap of common stock as of march 28 , 2005?
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table of contents part ii price range our common stock commenced trading on the nasdaq national market under the symbol 201cmktx 201d on november 5 , 2004 .prior to that date , there was no public market for our common stock .on november 4 , 2004 , the registration statement relating to our initial public offering was declared effective by the sec .the high and low bid information for our common stock , as reported by nasdaq , was as follows : on march 28 , 2005 , the last reported closing price of our common stock on the nasdaq national market was $ 10.26 .holders there were approximately 188 holders of record of our common stock as of march 28 , 2005 .dividend policy we have not declared or paid any cash dividends on our capital stock since our inception .we intend to retain future earnings to finance the operation and expansion of our business and do not anticipate paying any cash dividends in the foreseeable future .in the event we decide to declare dividends on our common stock in the future , such declaration will be subject to the discretion of our board of directors .our board may take into account such matters as general business conditions , our financial results , capital requirements , contractual , legal , and regulatory restrictions on the payment of dividends by us to our stockholders or by our subsidiaries to us and any such other factors as our board may deem relevant .use of proceeds on november 4 , 2004 , the registration statement relating to our initial public offering ( no .333-112718 ) was declared effective .we received net proceeds from the sale of the shares of our common stock in the offering of $ 53.9 million , at an initial public offering price of $ 11.00 per share , after deducting underwriting discounts and commissions and estimated offering expenses .additionally , prior to the closing of the initial public offering , all outstanding shares of convertible preferred stock were converted into 14484493 shares of common stock and 4266310 shares of non-voting common stock .the underwriters for our initial public offering were credit suisse first boston llc , j.p .morgan securities inc. , banc of america securities llc , bear , stearns & co .inc .and ubs securities llc .all of the underwriters are affiliates of some of our broker-dealer clients and affiliates of some our institutional investor clients .in addition , affiliates of all the underwriters are stockholders of ours .except for salaries , and reimbursements for travel expenses and other out-of-pocket costs incurred in the ordinary course of business , none of the proceeds from the offering have been paid by us , directly or indirectly , to any of our directors or officers or any of their associates , or to any persons owning ten percent or more of our outstanding stock or to any of our affiliates .as of december 31 , 2004 , we have not used any of the net proceeds from the initial public offering for product development costs , sales and marketing activities and working capital .we have invested the proceeds from the offering in cash and cash equivalents and short-term marketable securities pending their use for these or other purposes .item 5 .market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities november 5 , 2004 december 31 , 2004 .
[['high', 'low'], ['$ 24.41', '$ 12.75']]
.
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$ 1928.88
| 786 | 230 |
231 |
based on the average sales price listed above , what was the refined product sales total for 2007?
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marketing we are a supplier of gasoline and distillates to resellers and consumers within our market area in the midwest , upper great plains , gulf coast and southeastern regions of the united states .in 2007 , our refined products sales volumes totaled 21.6 billion gallons , or 1.410 mmbpd .the average sales price of our refined products in aggregate was $ 86.53 per barrel for 2007 .the following table sets forth our refined products sales by product group and our average sales price for each of the last three years .refined product sales ( thousands of barrels per day ) 2007 2006 2005 .
[['( thousands of barrels per day )', '2007', '2006', '2005'], ['gasoline', '791', '804', '836'], ['distillates', '377', '375', '385'], ['propane', '23', '23', '22'], ['feedstocks and special products', '103', '106', '96'], ['heavy fuel oil', '29', '26', '29'], ['asphalt', '87', '91', '87'], ['total ( a )', '1410', '1425', '1455'], ['average sales price ( dollars per barrel )', '$ 86.53', '$ 77.76', '$ 66.42']]
total ( a ) 1410 1425 1455 average sales price ( dollars per barrel ) $ 86.53 $ 77.76 $ 66.42 ( a ) includes matching buy/sell volumes of 24 mbpd and 77 mbpd in 2006 and 2005 .on april 1 , 2006 , we changed our accounting for matching buy/sell arrangements as a result of a new accounting standard .this change resulted in lower refined products sales volumes for 2007 and the remainder of 2006 than would have been reported under our previous accounting practices .see note 2 to the consolidated financial statements .the wholesale distribution of petroleum products to private brand marketers and to large commercial and industrial consumers and sales in the spot market accounted for 69 percent of our refined products sales volumes in 2007 .we sold 49 percent of our gasoline volumes and 89 percent of our distillates volumes on a wholesale or spot market basis .half of our propane is sold into the home heating market , with the balance being purchased by industrial consumers .propylene , cumene , aromatics , aliphatics and sulfur are domestically marketed to customers in the chemical industry .base lube oils , maleic anhydride , slack wax , extract and pitch are sold throughout the united states and canada , with pitch products also being exported worldwide .we market asphalt through owned and leased terminals throughout the midwest , upper great plains , gulf coast and southeastern regions of the united states .our customer base includes approximately 750 asphalt-paving contractors , government entities ( states , counties , cities and townships ) and asphalt roofing shingle manufacturers .we have blended ethanol with gasoline for over 15 years and increased our blending program in 2007 , in part due to renewable fuel mandates .we blended 41 mbpd of ethanol into gasoline in 2007 and 35 mbpd in both 2006 and 2005 .the future expansion or contraction of our ethanol blending program will be driven by the economics of the ethanol supply and changes in government regulations .we sell reformulated gasoline in parts of our marketing territory , primarily chicago , illinois ; louisville , kentucky ; northern kentucky ; milwaukee , wisconsin and hartford , illinois , and we sell low-vapor-pressure gasoline in nine states .we also sell biodiesel in minnesota , illinois and kentucky .as of december 31 , 2007 , we supplied petroleum products to about 4400 marathon branded-retail outlets located primarily in ohio , michigan , indiana , kentucky and illinois .branded retail outlets are also located in georgia , florida , minnesota , wisconsin , north carolina , tennessee , west virginia , virginia , south carolina , alabama , pennsylvania , and texas .sales to marathon-brand jobbers and dealers accounted for 16 percent of our refined product sales volumes in 2007 .speedway superamerica llc ( 201cssa 201d ) , our wholly-owned subsidiary , sells gasoline and diesel fuel primarily through retail outlets that we operate .sales of refined products through these ssa retail outlets accounted for 15 percent of our refined products sales volumes in 2007 .as of december 31 , 2007 , ssa had 1636 retail outlets in nine states that sold petroleum products and convenience store merchandise and services , primarily under the brand names 201cspeedway 201d and 201csuperamerica . 201d ssa 2019s revenues from the sale of non-petroleum merchandise totaled $ 2.796 billion in 2007 , compared with $ 2.706 billion in 2006 .profit levels from the sale of such merchandise and services tend to be less volatile than profit levels from the retail sale of gasoline and diesel fuel .ssa also operates 59 valvoline instant oil change retail outlets located in michigan and northwest ohio .pilot travel centers llc ( 201cptc 201d ) , our joint venture with pilot corporation ( 201cpilot 201d ) , is the largest operator of travel centers in the united states with 286 locations in 37 states and canada at december 31 , 2007 .the travel centers offer diesel fuel , gasoline and a variety of other services , including on-premises brand-name restaurants at many locations .pilot and marathon each own a 50 percent interest in ptc. .
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$ 122007.30
| 1,391 | 231 |
232 |
as of the current year , did the firm meet the eventual objective of an estimated basel iii tier i common ratio of 9.5%?
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jpmorgan chase & co./2012 annual report 119 implementing further revisions to the capital accord in the u.s .( such further revisions are commonly referred to as 201cbasel iii 201d ) .basel iii revised basel ii by , among other things , narrowing the definition of capital , and increasing capital requirements for specific exposures .basel iii also includes higher capital ratio requirements and provides that the tier 1 common capital requirement will be increased to 7% ( 7 % ) , comprised of a minimum ratio of 4.5% ( 4.5 % ) plus a 2.5% ( 2.5 % ) capital conservation buffer .implementation of the 7% ( 7 % ) tier 1 common capital requirement is required by january 1 , in addition , global systemically important banks ( 201cgsibs 201d ) will be required to maintain tier 1 common requirements above the 7% ( 7 % ) minimum in amounts ranging from an additional 1% ( 1 % ) to an additional 2.5% ( 2.5 % ) .in november 2012 , the financial stability board ( 201cfsb 201d ) indicated that it would require the firm , as well as three other banks , to hold the additional 2.5% ( 2.5 % ) of tier 1 common ; the requirement will be phased in beginning in 2016 .the basel committee also stated it intended to require certain gsibs to hold an additional 1% ( 1 % ) of tier 1 common under certain circumstances , to act as a disincentive for the gsib from taking actions that would further increase its systemic importance .currently , no gsib ( including the firm ) is required to hold this additional 1% ( 1 % ) of tier 1 common .in addition , pursuant to the requirements of the dodd-frank act , u.s .federal banking agencies have proposed certain permanent basel i floors under basel ii and basel iii capital calculations .the following table presents a comparison of the firm 2019s tier 1 common under basel i rules to its estimated tier 1 common under basel iii rules , along with the firm 2019s estimated risk-weighted assets .tier 1 common under basel iii includes additional adjustments and deductions not included in basel i tier 1 common , such as the inclusion of aoci related to afs securities and defined benefit pension and other postretirement employee benefit ( 201copeb 201d ) plans .the firm estimates that its tier 1 common ratio under basel iii rules would be 8.7% ( 8.7 % ) as of december 31 , 2012 .the tier 1 common ratio under both basel i and basel iii are non- gaap financial measures .however , such measures are used by bank regulators , investors and analysts as a key measure to assess the firm 2019s capital position and to compare the firm 2019s capital to that of other financial services companies .december 31 , 2012 ( in millions , except ratios ) .
[['tier 1 common under basel i rules', '$ 140342'], ['adjustments related to aoci for afs securities and defined benefit pension and opeb plans', '4077'], ['all other adjustments', '-453 ( 453 )'], ['estimated tier 1 common under basel iii rules', '$ 143966'], ['estimated risk-weighted assets under basel iii rules ( a )', '$ 1647903'], ['estimated tier 1 common ratio under basel iii rules ( b )', '8.7% ( 8.7 % )']]
estimated risk-weighted assets under basel iii rules ( a ) $ 1647903 estimated tier 1 common ratio under basel iii rules ( b ) 8.7% ( 8.7 % ) ( a ) key differences in the calculation of risk-weighted assets between basel i and basel iii include : ( 1 ) basel iii credit risk rwa is based on risk-sensitive approaches which largely rely on the use of internal credit models and parameters , whereas basel i rwa is based on fixed supervisory risk weightings which vary only by counterparty type and asset class ; ( 2 ) basel iii market risk rwa reflects the new capital requirements related to trading assets and securitizations , which include incremental capital requirements for stress var , correlation trading , and re-securitization positions ; and ( 3 ) basel iii includes rwa for operational risk , whereas basel i does not .the actual impact on the firm 2019s capital ratios upon implementation could differ depending on final implementation guidance from the regulators , as well as regulatory approval of certain of the firm 2019s internal risk models .( b ) the tier 1 common ratio is tier 1 common divided by rwa .the firm 2019s estimate of its tier 1 common ratio under basel iii reflects its current understanding of the basel iii rules based on information currently published by the basel committee and u.s .federal banking agencies and on the application of such rules to its businesses as currently conducted ; it excludes the impact of any changes the firm may make in the future to its businesses as a result of implementing the basel iii rules , possible enhancements to certain market risk models , and any further implementation guidance from the regulators .the basel iii capital requirements are subject to prolonged transition periods .the transition period for banks to meet the tier 1 common requirement under basel iii was originally scheduled to begin in 2013 , with full implementation on january 1 , 2019 .in november 2012 , the u.s .federal banking agencies announced a delay in the implementation dates for the basel iii capital requirements .the additional capital requirements for gsibs will be phased in starting january 1 , 2016 , with full implementation on january 1 , 2019 .management 2019s current objective is for the firm to reach , by the end of 2013 , an estimated basel iii tier i common ratio of 9.5% ( 9.5 % ) .additional information regarding the firm 2019s capital ratios and the federal regulatory capital standards to which it is subject is presented in supervision and regulation on pages 1 20138 of the 2012 form 10-k , and note 28 on pages 306 2013 308 of this annual report .broker-dealer regulatory capital jpmorgan chase 2019s principal u.s .broker-dealer subsidiaries are j.p .morgan securities llc ( 201cjpmorgan securities 201d ) and j.p .morgan clearing corp .( 201cjpmorgan clearing 201d ) .jpmorgan clearing is a subsidiary of jpmorgan securities and provides clearing and settlement services .jpmorgan securities and jpmorgan clearing are each subject to rule 15c3-1 under the securities exchange act of 1934 ( the 201cnet capital rule 201d ) .jpmorgan securities and jpmorgan clearing are also each registered as futures commission merchants and subject to rule 1.17 of the commodity futures trading commission ( 201ccftc 201d ) .jpmorgan securities and jpmorgan clearing have elected to compute their minimum net capital requirements in accordance with the 201calternative net capital requirements 201d of the net capital rule .at december 31 , 2012 , jpmorgan securities 2019 net capital , as defined by the net capital rule , was $ 13.5 billion , exceeding the minimum requirement by .
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no
| 1,760 | 232 |
233 |
what is the ratio of total cash to total long-term debt?
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note 9 .retirement plan we maintain a defined contribution pension plan covering full-time shoreside employees who have completed the minimum period of continuous service .annual contributions to the plan are based on fixed percentages of participants 2019 salaries and years of service , not to exceed certain maximums .pension cost was $ 13.9 million , $ 12.8 million and $ 12.2 million for the years ended december 31 , 2006 , 2005 and 2004 , respectively .note 10 .income taxes we and the majority of our subsidiaries are currently exempt from united states corporate tax on income from the international opera- tion of ships pursuant to section 883 of the internal revenue code .income tax expense related to our remaining subsidiaries was not significant for the years ended december 31 , 2006 , 2005 and 2004 .final regulations under section 883 were published on august 26 , 2003 , and were effective for the year ended december 31 , 2005 .these regulations confirmed that we qualify for the exemption provid- ed by section 883 , but also narrowed the scope of activities which are considered by the internal revenue service to be incidental to the international operation of ships .the activities listed in the regula- tions as not being incidental to the international operation of ships include income from the sale of air and other transportation such as transfers , shore excursions and pre and post cruise tours .to the extent the income from such activities is earned from sources within the united states , such income will be subject to united states taxa- tion .the application of these new regulations reduced our net income for the years ended december 31 , 2006 and december 31 , 2005 by approximately $ 6.3 million and $ 14.0 million , respectively .note 11 .financial instruments the estimated fair values of our financial instruments are as follows ( in thousands ) : .
[['', '2006', '2005'], ['cash and cash equivalents', '$ 104520', '$ 125385'], ['long-term debt ( including current portion of long-term debt )', '-5474988 ( 5474988 )', '-4368874 ( 4368874 )'], ['foreign currency forward contracts in a net ( loss ) gain position', '104159', '-115415 ( 115415 )'], ['interest rate swap agreements in a net receivable position', '5856', '8456'], ['fuel swap agreements in a net payable position', '-20456 ( 20456 )', '-78 ( 78 )']]
long-term debt ( including current portion of long-term debt ) ( 5474988 ) ( 4368874 ) foreign currency forward contracts in a net ( loss ) gain position 104159 ( 115415 ) interest rate swap agreements in a net receivable position 5856 8456 fuel swap agreements in a net payable position ( 20456 ) ( 78 ) the reported fair values are based on a variety of factors and assumptions .accordingly , the fair values may not represent actual values of the financial instruments that could have been realized as of december 31 , 2006 or 2005 , or that will be realized in the future and do not include expenses that could be incurred in an actual sale or settlement .our financial instruments are not held for trading or speculative purposes .our exposure under foreign currency contracts , interest rate and fuel swap agreements is limited to the cost of replacing the contracts in the event of non-performance by the counterparties to the contracts , all of which are currently our lending banks .to minimize this risk , we select counterparties with credit risks acceptable to us and we limit our exposure to an individual counterparty .furthermore , all foreign currency forward contracts are denominated in primary currencies .cash and cash equivalents the carrying amounts of cash and cash equivalents approximate their fair values due to the short maturity of these instruments .long-term debt the fair values of our senior notes and senior debentures were esti- mated by obtaining quoted market prices .the fair values of all other debt were estimated using discounted cash flow analyses based on market rates available to us for similar debt with the same remaining maturities .foreign currency contracts the fair values of our foreign currency forward contracts were esti- mated using current market prices for similar instruments .our expo- sure to market risk for fluctuations in foreign currency exchange rates relates to six ship construction contracts and forecasted transactions .we use foreign currency forward contracts to mitigate the impact of fluctuations in foreign currency exchange rates .as of december 31 , 2006 , we had foreign currency forward contracts in a notional amount of $ 3.8 billion maturing through 2009 .as of december 31 , 2006 , the fair value of our foreign currency forward contracts related to the six ship construction contracts , which are designated as fair value hedges , was a net unrealized gain of approximately $ 106.3 mil- lion .at december 31 , 2005 , the fair value of our foreign currency for- ward contracts related to three ship construction contracts , designated as fair value hedges , was a net unrealized loss of approx- imately $ 103.4 million .the fair value of our foreign currency forward contracts related to the other ship construction contract at december 31 , 2005 , which was designated as a cash flow hedge , was an unre- alized loss , of approximately $ 7.8 million .at december 31 , 2006 , approximately 11% ( 11 % ) of the aggregate cost of the ships was exposed to fluctuations in the euro exchange rate .r o y a l c a r i b b e a n c r u i s e s l t d .3 5 notes to the consolidated financial statements ( continued ) 51392_financials-v9.qxp 6/7/07 3:40 pm page 35 .
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1:50
| 1,385 | 233 |
234 |
did credit suisse securities ( usa ) account for a greater % ( % ) of our share of annualized cash rent than the largest other property in 2018?
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table of contents sl green realty corp .and sl green operating partnership , l.p .notes to consolidated financial statements ( cont. ) december 31 , 2018 pricing models , replacement cost , and termination cost are used to determine fair value .all methods of assessing fair value result in a general approximation of value , and such value may never actually be realized .in the normal course of business , we are exposed to the effect of interest rate changes and limit these risks by following established risk management policies and procedures including the use of derivatives .to address exposure to interest rates , derivatives are used primarily to fix the rate on debt based on floating-rate indices and manage the cost of borrowing obligations .we use a variety of conventional derivative products .these derivatives typically include interest rate swaps , caps , collars and floors .we expressly prohibit the use of unconventional derivative instruments and using derivative instruments for trading or speculative purposes .further , we have a policy of only entering into contracts with major financial institutions based upon their credit ratings and other factors .we may employ swaps , forwards or purchased options to hedge qualifying forecasted transactions .gains and losses related to these transactions are deferred and recognized in net income as interest expense in the same period or periods that the underlying transaction occurs , expires or is otherwise terminated .hedges that are reported at fair value and presented on the balance sheet could be characterized as cash flow hedges or fair value hedges .interest rate caps and collars are examples of cash flow hedges .cash flow hedges address the risk associated with future cash flows of interest payments .for all hedges held by us and which were deemed to be fully effective in meeting the hedging objectives established by our corporate policy governing interest rate risk management , no net gains or losses were reported in earnings .the changes in fair value of hedge instruments are reflected in accumulated other comprehensive income .for derivative instruments not designated as hedging instruments , the gain or loss , resulting from the change in the estimated fair value of the derivative instruments , is recognized in current earnings during the period of change .earnings per share of the company the company presents both basic and diluted earnings per share , or eps , using the two-class method , which is an earnings allocation formula that determines eps for common stock and any participating securities according to dividends declared ( whether paid or unpaid ) .under the two-class method , basic eps is computed by dividing the income available to common stockholders by the weighted-average number of common stock shares outstanding for the period .basic eps includes participating securities , consisting of unvested restricted stock that receive nonforfeitable dividends similar to shares of common stock .diluted eps reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock , where such exercise or conversion would result in a lower eps amount .diluted eps also includes units of limited partnership interest .the dilutive effect of stock options is reflected in the weighted average diluted outstanding shares calculation by application of the treasury stock method .there was no dilutive effect for the exchangeable senior notes as the conversion premium was to be paid in cash .earnings per unit of the operating partnership the operating partnership presents both basic and diluted earnings per unit , or epu , using the two-class method , which is an earnings allocation formula that determines epu for common units and any participating securities according to dividends declared ( whether paid or unpaid ) .under the two-class method , basic epu is computed by dividing the income available to common unitholders by the weighted-average number of common units outstanding for the period .basic epu includes participating securities , consisting of unvested restricted units that receive nonforfeitable dividends similar to shares of common units .diluted epu reflects the potential dilution that could occur if securities or other contracts to issue common units were exercised or converted into common units , where such exercise or conversion would result in a lower epu amount .the dilutive effect of unit options is reflected in the weighted average diluted outstanding units calculation by application of the treasury stock method .there was no dilutive effect for the exchangeable senior notes as the conversion premium was to be paid in cash .use of estimates the preparation of financial statements in conformity with accounting principles generally accepted in the united states requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes .actual results could differ from those estimates .concentrations of credit risk financial instruments that potentially subject us to concentrations of credit risk consist primarily of cash investments , debt and preferred equity investments and accounts receivable .we place our cash investments with high quality financial institutions .the collateral securing our debt and preferred equity investments is located in the new york metropolitan area .see note 5 , "debt and preferred equity investments." table of contents sl green realty corp .and sl green operating partnership , l.p .notes to consolidated financial statements ( cont. ) december 31 , 2018 we perform ongoing credit evaluations of our tenants and require most tenants to provide security deposits or letters of credit .though these security deposits and letters of credit are insufficient to meet the total value of a tenant's lease obligation , they are a measure of good faith and a source of funds to offset the economic costs associated with lost revenue and the costs associated with re-tenanting a space .the properties in our real estate portfolio are located in the new york metropolitan area .the tenants located in our buildings operate in various industries .other than one tenant , credit suisse securities ( usa ) , inc. , who accounts for 8.2% ( 8.2 % ) of our share of annualized cash rent , no other tenant in our portfolio accounted for more than 5.0% ( 5.0 % ) of our share of annualized cash rent , including our share of joint venture annualized cash rent , at december 31 , 2018 .for the years ended december 31 , 2018 , 2017 , and 2016 , the following properties contributed more than 5.0% ( 5.0 % ) of our annualized cash rent , including our share of joint venture annualized cash rent: .
[['property 11 madison avenue', '2018 7.4% ( 7.4 % )', 'property 11 madison avenue', '2017 7.1% ( 7.1 % )', 'property 1515 broadway', '2016 8.8% ( 8.8 % )'], ['1185 avenue of the americas', '6.7% ( 6.7 % )', '1185 avenue of the americas', '7.1% ( 7.1 % )', '1185 avenue of the americas', '6.9% ( 6.9 % )'], ['420 lexington avenue', '6.5% ( 6.5 % )', '1515 broadway', '7.0% ( 7.0 % )', '11 madison avenue', '6.1% ( 6.1 % )'], ['1515 broadway', '6.0% ( 6.0 % )', '420 lexington avenue', '6.0% ( 6.0 % )', '420 lexington avenue', '5.9% ( 5.9 % )'], ['one madison avenue', '5.8% ( 5.8 % )', 'one madison avenue', '5.6% ( 5.6 % )', 'one madison avenue', '5.6% ( 5.6 % )']]
as of december 31 , 2018 , 68.7% ( 68.7 % ) of our work force is covered by six collective bargaining agreements and 56.0% ( 56.0 % ) of our work force , which services substantially all of our properties , is covered by collective bargaining agreements that expire in december 2019 .see note 19 , "benefits plans." reclassification certain prior year balances have been reclassified to conform to our current year presentation .accounting standards updates in october 2018 , the fasb issued accounting standard update ( asu ) no .2018-17 , consolidation ( topic 810 ) , targeted improvements to related party guidance for variable interest entities .under this amendment reporting entities , when determining if the decision-making fees are variable interests , are to consider indirect interests held through related parties under common control on a proportional basis rather than as a direct interest in its entirety .the guidance is effective for the company for fiscal years beginning after december 15 , 2019 .early adoption is permitted .the company has adopted this guidance and it had no impact on the company 2019s consolidated financial statements .in august 2018 , the securities and exchange commission adopted a final rule that eliminated or amended disclosure requirements that were redundant or outdated in light of changes in its requirements , generally accepted accounting principles , or changes in the business environment .the commission also referred certain disclosure requirements to the financial accounting standards board for potential incorporation into generally accepted accounting principles .the rule is effective for filings after november 5 , 2018 .the company assessed the impact of this rule and determined that the changes resulted in clarification or expansion of existing requirements .the company early adopted the rule upon publication to the federal register on october 5 , 2018 and it did not have a material impact on the company 2019s consolidated financial statements .in august 2018 , the fasb issued accounting standard update ( asu ) no .2018-15 , intangibles - goodwill and other- internal-use software ( topic 350-40 ) , customer 2019s accounting for implementation costs incurred in a cloud computing arrangement that is a service contract .the amendments provide guidance on accounting for fees paid when the arrangement includes a software license and align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing costs to develop or obtain internal-use software .the guidance is effective for the company for fiscal years beginning after december 15 , 2019 .early adoption is permitted .the company has not yet adopted this new guidance and does not expect it to have a material impact on the company 2019s consolidated financial statements when the new standard is implemented .in august 2018 , the fasb issued asu no .2018-13 , fair value measurement ( topic 820 ) , disclosure framework - changes to the disclosure requirements for fair value measurement .this amendment removed , modified and added the disclosure requirements under topic 820 .the changes are effective for the company for fiscal years beginning after december 15 , 2019 .early adoption is permitted for the removed or modified disclosures with adoption of the additional disclosures upon the effective date .the company has not yet adopted this new guidance and does not expect it to have a material impact on the company 2019s consolidated financial statements when the new standard is implemented. .
|
yes
| 2,392 | 234 |
235 |
was the estimated sensitivity to a one basis point increase in credit spreads ( counterparty and our own ) on derivatives greater than the estimated sensitivity to a one basis point increase in our own credit spreads on unsecured borrowings for which the fair value option was elected as of december 2012?
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management 2019s discussion and analysis sensitivity measures certain portfolios and individual positions are not included in var because var is not the most appropriate risk measure .the market risk of these positions is determined by estimating the potential reduction in net revenues of a 10% ( 10 % ) decline in the underlying asset value .the table below presents market risk for positions that are not included in var .these measures do not reflect diversification benefits across asset categories and therefore have not been aggregated .asset categories 10% ( 10 % ) sensitivity amount as of december in millions 2012 2011 .
[['asset categories', 'asset categories', ''], ['in millions', '2012', '2011'], ['icbc', '$ 208', '$ 212'], ['equity ( excluding icbc ) 1', '2263', '2458'], ['debt2', '1676', '1521']]
equity ( excluding icbc ) 1 2263 2458 debt 2 1676 1521 1 .relates to private and restricted public equity securities , including interests in firm-sponsored funds that invest in corporate equities and real estate and interests in firm-sponsored hedge funds .2 .primarily relates to interests in our firm-sponsored funds that invest in corporate mezzanine and senior debt instruments .also includes loans backed by commercial and residential real estate , corporate bank loans and other corporate debt , including acquired portfolios of distressed loans .var excludes the impact of changes in counterparty and our own credit spreads on derivatives as well as changes in our own credit spreads on unsecured borrowings for which the fair value option was elected .the estimated sensitivity to a one basis point increase in credit spreads ( counterparty and our own ) on derivatives was a $ 3 million gain ( including hedges ) as of december 2012 .in addition , the estimated sensitivity to a one basis point increase in our own credit spreads on unsecured borrowings for which the fair value option was elected was a $ 7 million gain ( including hedges ) as of december 2012 .however , the actual net impact of a change in our own credit spreads is also affected by the liquidity , duration and convexity ( as the sensitivity is not linear to changes in yields ) of those unsecured borrowings for which the fair value option was elected , as well as the relative performance of any hedges undertaken .the firm engages in insurance activities where we reinsure and purchase portfolios of insurance risk and pension liabilities .the risks associated with these activities include , but are not limited to : equity price , interest rate , reinvestment and mortality risk .the firm mitigates risks associated with insurance activities through the use of reinsurance and hedging .certain of the assets associated with the firm 2019s insurance activities are included in var .in addition to the positions included in var , we held $ 9.07 billion of securities accounted for as available-for- sale as of december 2012 , which support the firm 2019s reinsurance business .as of december 2012 , our available- for-sale securities primarily consisted of $ 3.63 billion of corporate debt securities with an average yield of 4% ( 4 % ) , the majority of which will mature after five years , $ 3.38 billion of mortgage and other asset-backed loans and securities with an average yield of 6% ( 6 % ) , the majority of which will mature after ten years , and $ 856 million of u.s .government and federal agency obligations with an average yield of 3% ( 3 % ) , the majority of which will mature after five years .as of december 2012 , such assets were classified as held for sale and were included in 201cother assets . 201d see note 12 to the consolidated financial statements for further information about assets held for sale .as of december 2011 , we held $ 4.86 billion of securities accounted for as available-for-sale , primarily consisting of $ 1.81 billion of corporate debt securities with an average yield of 5% ( 5 % ) , the majority of which will mature after five years , $ 1.42 billion of mortgage and other asset-backed loans and securities with an average yield of 10% ( 10 % ) , the majority of which will mature after ten years , and $ 662 million of u.s .government and federal agency obligations with an average yield of 3% ( 3 % ) , the majority of which will mature after ten years .in addition , as of december 2012 and december 2011 , we had commitments and held loans for which we have obtained credit loss protection from sumitomo mitsui financial group , inc .see note 18 to the consolidated financial statements for further information about such lending commitments .as of december 2012 , the firm also had $ 6.50 billion of loans held for investment which were accounted for at amortized cost and included in 201creceivables from customers and counterparties , 201d substantially all of which had floating interest rates .the estimated sensitivity to a 100 basis point increase in interest rates on such loans was $ 62 million of additional interest income over a 12-month period , which does not take into account the potential impact of an increase in costs to fund such loans .see note 8 to the consolidated financial statements for further information about loans held for investment .additionally , we make investments accounted for under the equity method and we also make direct investments in real estate , both of which are included in 201cother assets 201d in the consolidated statements of financial condition .direct investments in real estate are accounted for at cost less accumulated depreciation .see note 12 to the consolidated financial statements for information on 201cother assets . 201d goldman sachs 2012 annual report 93 .
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no
| 1,360 | 235 |
236 |
how many segmented sales did the 5 largest customers account for in 2008?
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products and software , as well as ongoing investment in next-generation technologies , partially offset by savings from cost-reduction initiatives .reorganization of business charges increased due to employee severance costs and expenses related to the exit of a facility .sg&a expenses decreased , primarily due to lower marketing expenses and savings from cost-reduction initiatives , partially offset by increased expenditures on information technology upgrades .as a percentage of net sales in 2007 as compared to 2006 , gross margin and operating margin decreased , and sg&a expenses and r&d expenditures increased .the segment 2019s backlog was $ 647 million at december 31 , 2007 , compared to $ 1.4 billion at december 31 , 2006 .this decrease in backlog was primarily due to a decline in customer demand driven by the segment 2019s limited product portfolio .the segment shipped 159.1 million units in 2007 , a 27% ( 27 % ) decrease compared to shipments of 217.4 million units in 2006 .the overall decrease reflects decreased unit shipments of products for all technologies .for the full year 2007 , unit shipments : ( i ) decreased substantially in asia and emea , ( ii ) decreased in north america , and ( iii ) increased in latin america .although unit shipments by the segment decreased in 2007 , total unit shipments in the worldwide handset market increased by approximately 16% ( 16 % ) .the segment estimates its worldwide market share was approximately 14% ( 14 % ) for the full year 2007 , a decrease of approximately 8 percentage points versus full year 2006 .in 2007 , asp decreased approximately 9% ( 9 % ) compared to 2006 .the overall decrease in asp was driven primarily by changes in the product-tier and geographic mix of sales .by comparison , asp decreased approximately 11% ( 11 % ) in 2006 and 10% ( 10 % ) in 2005 .the segment has several large customers located throughout the world .in 2007 , aggregate net sales to the segment 2019s five largest customers accounted for approximately 42% ( 42 % ) of the segment 2019s net sales .besides selling directly to carriers and operators , the segment also sells products through a variety of third-party distributors and retailers , which account for approximately 33% ( 33 % ) of the segment 2019s net sales .the largest of these distributors was brightstar corporation .although the u.s .market continued to be the segment 2019s largest individual market , many of our customers , and more than 54% ( 54 % ) of our segment 2019s 2007 net sales , were outside the u.s .the largest of these international markets were brazil , china and mexico .home and networks mobility segment the home and networks mobility segment designs , manufactures , sells , installs and services : ( i ) digital video , internet protocol video and broadcast network interactive set-tops , end-to-end video delivery systems , broadband access infrastructure platforms , and associated data and voice customer premise equipment to cable television and telecom service providers ( collectively , referred to as the 201chome business 201d ) , and ( ii ) wireless access systems , including cellular infrastructure systems and wireless broadband systems , to wireless service providers ( collectively , referred to as the 201cnetwork business 201d ) .in 2008 , the segment 2019s net sales represented 33% ( 33 % ) of the company 2019s consolidated net sales , compared to 27% ( 27 % ) in 2007 and 21% ( 21 % ) in 2006 .( dollars in millions ) 2008 2007 2006 2008 20142007 2007 20142006 years ended december 31 percent change .
[['( dollars in millions )', 'years ended december 31 2008', 'years ended december 31 2007', 'years ended december 31 2006', 'years ended december 31 2008 20142007', '2007 20142006'], ['segment net sales', '$ 10086', '$ 10014', '$ 9164', '1% ( 1 % )', '9% ( 9 % )'], ['operating earnings', '918', '709', '787', '29% ( 29 % )', '( 10 ) % ( % )']]
segment results 20142008 compared to 2007 in 2008 , the segment 2019s net sales increased 1% ( 1 % ) to $ 10.1 billion , compared to $ 10.0 billion in 2007 .the 1% ( 1 % ) increase in net sales primarily reflects a 16% ( 16 % ) increase in net sales in the home business , partially offset by an 11% ( 11 % ) decrease in net sales in the networks business .the 16% ( 16 % ) increase in net sales in the home business is primarily driven by a 17% ( 17 % ) increase in net sales of digital entertainment devices , reflecting a 19% ( 19 % ) increase in unit shipments to 18.0 million units , partially offset by lower asp due to product mix shift and pricing pressure .the 11% ( 11 % ) decrease in net sales in the networks business was primarily driven by : ( i ) the absence of net sales by the embedded communication computing group ( 201cecc 201d ) that was divested at the end of 2007 , and ( ii ) lower net sales of iden , gsm and cdma infrastructure equipment , partially offset by higher net sales of umts infrastructure equipment .on a geographic basis , the 1% ( 1 % ) increase in net sales was primarily driven by higher net sales in latin america and asia , partially offset by lower net sales in north america .the increase in net sales in latin america was 63management 2019s discussion and analysis of financial condition and results of operations %%transmsg*** transmitting job : c49054 pcn : 066000000 ***%%pcmsg|63 |00024|yes|no|02/24/2009 12:31|0|0|page is valid , no graphics -- color : n| .
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$ 4236 million
| 1,568 | 236 |
237 |
of the total aus net inflows/ ( outflows ) for 2014 were fixed income asset inflows in connection with our acquisition of deutsche asset & wealth management 2019s stable value business greater than the liquidity products inflows in connection with our acquisition of rbs asset management 2019s money market funds?
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the goldman sachs group , inc .and subsidiaries management 2019s discussion and analysis 2030 total aus net inflows/ ( outflows ) for 2014 includes $ 19 billion of fixed income asset inflows in connection with our acquisition of deutsche asset & wealth management 2019s stable value business and $ 6 billion of liquidity products inflows in connection with our acquisition of rbs asset management 2019s money market funds .the table below presents our average monthly assets under supervision by asset class .average for the year ended december $ in billions 2016 2015 2014 .
[['$ in billions', 'average for theyear ended december 2016', 'average for theyear ended december 2015', 'average for theyear ended december 2014'], ['alternative investments', '$ 149', '$ 145', '$ 145'], ['equity', '256', '247', '225'], ['fixed income', '578', '530', '499'], ['total long-term assets under supervision', '983', '922', '869'], ['liquidity products', '326', '272', '248'], ['total assets under supervision', '$ 1309', '$ 1194', '$ 1117']]
operating environment .following a challenging first quarter of 2016 , market conditions continued to improve with higher asset prices resulting in full year appreciation in our client assets in both equity and fixed income assets .also , our assets under supervision increased during 2016 from net inflows , primarily in fixed income assets , and liquidity products .the mix of our average assets under supervision shifted slightly compared with 2015 from long- term assets under supervision to liquidity products .management fees have been impacted by many factors , including inflows to advisory services and outflows from actively-managed mutual funds .in the future , if asset prices decline , or investors continue the trend of favoring assets that typically generate lower fees or investors withdraw their assets , net revenues in investment management would likely be negatively impacted .during 2015 , investment management operated in an environment generally characterized by strong client net inflows , which more than offset the declines in equity and fixed income asset prices , which resulted in depreciation in the value of client assets , particularly in the third quarter of 2015 .the mix of average assets under supervision shifted slightly from long-term assets under supervision to liquidity products compared with 2014 .2016 versus 2015 .net revenues in investment management were $ 5.79 billion for 2016 , 7% ( 7 % ) lower than 2015 .this decrease primarily reflected significantly lower incentive fees compared with a strong 2015 .in addition , management and other fees were slightly lower , reflecting shifts in the mix of client assets and strategies , partially offset by the impact of higher average assets under supervision .during the year , total assets under supervision increased $ 127 billion to $ 1.38 trillion .long-term assets under supervision increased $ 75 billion , including net inflows of $ 42 billion , primarily in fixed income assets , and net market appreciation of $ 33 billion , primarily in equity and fixed income assets .in addition , liquidity products increased $ 52 billion .operating expenses were $ 4.65 billion for 2016 , 4% ( 4 % ) lower than 2015 , due to decreased compensation and benefits expenses , reflecting lower net revenues .pre-tax earnings were $ 1.13 billion in 2016 , 17% ( 17 % ) lower than 2015 .2015 versus 2014 .net revenues in investment management were $ 6.21 billion for 2015 , 3% ( 3 % ) higher than 2014 , due to slightly higher management and other fees , primarily reflecting higher average assets under supervision , and higher transaction revenues .during 2015 , total assets under supervision increased $ 74 billion to $ 1.25 trillion .long-term assets under supervision increased $ 51 billion , including net inflows of $ 71 billion ( which includes $ 18 billion of asset inflows in connection with our acquisition of pacific global advisors 2019 solutions business ) , and net market depreciation of $ 20 billion , both primarily in fixed income and equity assets .in addition , liquidity products increased $ 23 billion .operating expenses were $ 4.84 billion for 2015 , 4% ( 4 % ) higher than 2014 , due to increased compensation and benefits expenses , reflecting higher net revenues .pre-tax earnings were $ 1.37 billion in 2015 , 2% ( 2 % ) lower than 2014 .geographic data see note 25 to the consolidated financial statements for a summary of our total net revenues , pre-tax earnings and net earnings by geographic region .goldman sachs 2016 form 10-k 65 .
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yes
| 1,214 | 237 |
238 |
was the total 2016 non-vested incentive/ performance units shares weighted- average grant date fair value greater than the non-vested restricted share/ restricted share units weighted average grant date value?
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at december 31 , 2015 and 2014 , options for 5 million and 6 million shares of common stock were exercisable at a weighted-average price of $ 55.42 and $ 56.21 , respectively .the total intrinsic value of options exercised was approximately $ .1 billion during 2016 , 2015 and 2014 .cash received from option exercises under all incentive plans for 2016 , 2015 and 2014 was approximately $ .1 billion , $ .1 billion and $ .2 billion , respectively .the tax benefit realized from option exercises under all incentive plans was insignificant for 2016 , 2015 and 2014 .shares of common stock available during the next year for the granting of options and other awards under the incentive plans were approximately 39 million shares at december 31 , 2016 .total shares of pnc common stock authorized for future issuance under all equity compensation plans totaled approximately 40 million shares at december 31 , 2016 .during 2016 , we issued approximately 2 million common shares from treasury stock in connection with stock option exercise activity .as with past exercise activity , we currently intend to utilize primarily treasury stock for any future stock option exercises .incentive/performance unit awards and restricted share/restricted share unit awards the fair value of nonvested incentive/performance unit awards and restricted share/restricted share unit awards is initially determined based on prices not less than the market value of our common stock on the date of grant with a reduction for estimated forfeitures .the value of certain incentive/ performance unit awards is subsequently remeasured based on the achievement of one or more financial and other performance goals .additionally , certain incentive/ performance unit awards require subsequent adjustment to their current market value due to certain discretionary risk review triggers .the weighted-average grant date fair value of incentive/ performance unit awards and restricted share/restricted share unit awards granted in 2016 , 2015 and 2014 was $ 78.37 , $ 91.57 and $ 80.79 per share , respectively .the total intrinsic value of incentive/performance unit and restricted share/ restricted share unit awards vested during 2016 , 2015 and 2014 was approximately $ .1 billion , $ .2 billion and $ .1 billion , respectively .we recognize compensation expense for such awards ratably over the corresponding vesting and/or performance periods for each type of program .table 78 : nonvested incentive/performance unit awards and restricted share/restricted share unit awards 2013 rollforward ( a ) shares in millions nonvested incentive/ performance units shares weighted- average date fair nonvested restricted share/ restricted weighted- average grant date fair value .
[['shares in millions december 31 2015', 'nonvested incentive/ performance units shares 2', 'weighted- average grant date fair value $ 79.27', 'nonvested restricted share/ restricted share units 3', 'weighted- average grant date fair value $ 79.26'], ['granted ( b )', '1', '$ 77.77', '1', '$ 78.71'], ['vested/released ( b )', '-1 ( 1 )', '$ 71.59', '-1 ( 1 )', '$ 65.53'], ['december 31 2016', '2', '$ 81.42', '3', '$ 83.27']]
( a ) forfeited awards during 2016 were insignificant .( b ) includes adjustments for achieving specific performance goals for incentive/ performance unit share awards granted in prior periods .in table 78 , the units and related weighted-average grant date fair value of the incentive/performance unit share awards exclude the effect of dividends on the underlying shares , as those dividends will be paid in cash if and when the underlying shares are issued to the participants .blackrock long-term incentive plans ( ltip ) blackrock adopted the 2002 ltip program to help attract and retain qualified professionals .at that time , we agreed to transfer up to four million shares of blackrock common stock to fund a portion of the 2002 ltip program and future ltip programs approved by blackrock 2019s board of directors .in 2009 , our obligation to deliver any remaining blackrock common shares was replaced with an obligation to deliver shares of blackrock 2019s series c preferred stock held by us .in 2016 , we transferred .5 million shares of blackrock series c preferred stock to blackrock in connection with our obligation .at december 31 , 2016 , we held approximately .8 million shares of blackrock series c preferred stock which were available to fund our obligations .see note 23 subsequent events for information on our february 1 , 2017 transfer of .5 million shares of the series c preferred stock to blackrock to satisfy a portion of our ltip obligation .we account for our blackrock series c preferred stock at fair value , which offsets the impact of marking-to-market the obligation to deliver these shares to blackrock .see note 6 fair value for additional information regarding the valuation of the blackrock series c preferred stock .the pnc financial services group , inc .2013 form 10-k 139 .
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no
| 1,234 | 238 |
239 |
was the caribbean segment revenue increase greater than the south american growth ?
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increase .in north america , contract generation segment revenues increased $ 46 million .in the caribbean ( which includes venezuela and colombia ) , contract generation segment revenues increased $ 11 million , and this was due to a full year of operations at merida iii offset by a lower capacity factor at los mina .competitive supply revenues increased $ 300 million or 13% ( 13 % ) to $ 2.7 billion in 2001 from $ 2.4 billion in 2000 .excluding businesses acquired or that commenced commercial operations in 2001 or 2000 , competitive supply revenues increased 3% ( 3 % ) to $ 2.4 billion in 2001 .the most significant increases occurred within north america and the caribbean .slight increases were recorded within south america and asia .europe/africa reported a slight decrease due to lower pool prices in the u.k .offset by the start of commercial operations at fifoots and the acquisition of ottana .in north america , competitive supply segment revenues increased $ 184 million due primarily to an expanded customer base at new energy as well as increased operations at placerita .these increases in north america were offset by lower market prices at our new york businesses .in the caribbean , competitive supply segment revenues increased $ 123 million due primarily to the acquisition of chivor .large utility revenues increased $ 300 million , or 14% ( 14 % ) to $ 2.4 billion in 2001 from $ 2.1 billion in 2000 , principally resulting from the addition of revenues attributable to businesses acquired during 2001 or 2000 .excluding businesses acquired in 2001 and 2000 , large utility revenues increased 1% ( 1 % ) to $ 1.6 billion in 2001 .the majority of the increase occurred within the caribbean , and there was a slight increase in north america .in the caribbean , revenues increased $ 312 million due to a full year of revenues from edc , which was acquired in june 2000 .growth distribution revenues increased $ 400 million , or 31% ( 31 % ) to $ 1.7 billion in 2001 from $ 1.3 billion in 2000 .excluding businesses acquired in 2001 or 2000 , growth distribution revenues increased 20% ( 20 % ) to $ 1.3 billion in 2001 .revenues increased most significantly in the caribbean and to a lesser extent in south america and europe/africa .revenues decreased slightly in asia .in the caribbean , growth distribution segment revenues increased $ 296 million due primarily to a full year of operations at caess , which was acquired in 2000 and improved operations at ede este .in south america , growth distribution segment revenues increased $ 89 million due to the significant revenues at sul from our settlement with the brazilian government offset by declines in revenues at our argentine distribution businesses .the settlement with the brazilian government confirmed the sales price that sul would receive from its sales into the southeast market ( where rationing occurred ) under its itaipu contract .in europe/africa , growth distribution segment revenues increased $ 59 million from the acquisition of sonel .in asia , growth distribution segment revenues decreased $ 33 million mainly due to the change in the way in which we are accounting for our investment in cesco .cesco was previously consolidated but was changed to equity method during 2001 when the company was removed from management and the board of directors .this decline was partially offset by the increase in revenues from the distribution businesses that we acquired in the ukraine .aes is a global power company which operates in 29 countries around the world .the breakdown of aes 2019s revenues for the years ended december 31 , 2001 and 2000 , based on the geographic region in which they were earned , is set forth below .a more detailed breakdown by country can be found in note 16 of the consolidated financial statements. .
[['', '2001', '2000', '% ( % ) change'], ['north america', '$ 3.6 billion', '$ 3.4 billion', '6% ( 6 % )'], ['south america', '$ 1.7 billion', '$ 1.1 billion', '55% ( 55 % )'], ['caribbean*', '$ 1.9 billion', '$ 1.1 billion', '73% ( 73 % )'], ['europe/africa', '$ 1.4 billion', '$ 1.3 billion', '8% ( 8 % )'], ['asia', '$ 693 million', '$ 615 million', '13% ( 13 % )']]
* includes venezuela and colombia. .
|
yes
| 1,094 | 239 |
240 |
how much more was the average wti crude price than the wcs price in 2012?
|
discount to brent was narrower in 2013 than in 2012 and 2011 .as a result of the significant increase in u.s .production of light sweet crude oil , the historical relationship between wti , brent and lls pricing may not be indicative of future periods .composition 2013 the proportion of our liquid hydrocarbon sales volumes that are ngls continues to increase due to our development of united states unconventional liquids-rich plays .ngls were 15 percent of our north america e&p liquid hydrocarbon sales volumes in 2013 compared to 10 percent in 2012 and 7 percent in 2011 .natural gas 2013 a significant portion of our natural gas production in the u.s .is sold at bid-week prices , or first-of-month indices relative to our specific producing areas .average henry hub settlement prices for natural gas were 31 percent higher for 2013 than for 2012 .international e&p liquid hydrocarbons 2013 our international e&p crude oil production is relatively sweet and has historically sold in relation to the brent crude benchmark , which on average was 3 percent lower for 2013 than 2012 .natural gas 2013 our major international e&p natural gas-producing regions are europe and e.g .natural gas prices in europe have been considerably higher than the u.s .in recent years .in the case of e.g. , our natural gas sales are subject to term contracts , making realized prices in these areas less volatile .the natural gas sales from e.g .are at fixed prices ; therefore , our reported average international e&p natural gas realized prices may not fully track market price movements .oil sands mining the oil sands mining segment produces and sells various qualities of synthetic crude oil .output mix can be impacted by operational problems or planned unit outages at the mines or upgrader .sales prices for roughly two-thirds of the normal output mix has historically tracked movements in wti and one-third has historically tracked movements in the canadian heavy crude oil marker , primarily wcs .the wcs discount to wti has been increasing on average in each year presented below .despite a wider wcs discount in 2013 , our average oil sands mining price realizations increased due to a greater proportion of higher value synthetic crude oil sales volumes compared to 2012 .the operating cost structure of the oil sands mining operations is predominantly fixed and therefore many of the costs incurred in times of full operation continue during production downtime .per-unit costs are sensitive to production rates .key variable costs are natural gas and diesel fuel , which track commodity markets such as the aeco natural gas sales index and crude oil prices , respectively .the table below shows average benchmark prices that impact both our revenues and variable costs: .
[['benchmark', '2013', '2012', '2011'], ['wti crude oil ( dollars per bbl )', '$ 98.05', '$ 94.15', '$ 95.11'], ['wcs ( dollars per bbl ) ( a )', '$ 72.77', '$ 73.18', '$ 77.97'], ['aeco natural gas sales index ( dollars per mmbtu ) ( b )', '$ 3.08', '$ 2.39', '$ 3.68']]
wcs ( dollars per bbl ) ( a ) $ 72.77 $ 73.18 $ 77.97 aeco natural gas sales index ( dollars per mmbtu ) ( b ) $ 3.08 $ 2.39 $ 3.68 ( a ) monthly pricing based upon average wti adjusted for differentials unique to western canada .( b ) monthly average day ahead index. .
|
$ 20.97
| 845 | 240 |
241 |
did the volume/weather adjustment have a greater impact on 2015 net revenue than the retail electric price adjustment?
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entergy mississippi , inc .management 2019s financial discussion and analysis the net wholesale revenue variance is primarily due to entergy mississippi 2019s exit from the system agreement in november 2015 .the reserve equalization revenue variance is primarily due to the absence of reserve equalization revenue as compared to the same period in 2015 resulting from entergy mississippi 2019s exit from the system agreement in november 2015 compared to 2014 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges .following is an analysis of the change in net revenue comparing 2015 to 2014 .amount ( in millions ) .
[['', 'amount ( in millions )'], ['2014 net revenue', '$ 701.2'], ['volume/weather', '8.9'], ['retail electric price', '7.3'], ['net wholesale revenue', '-2.7 ( 2.7 )'], ['transmission equalization', '-5.4 ( 5.4 )'], ['reserve equalization', '-5.5 ( 5.5 )'], ['other', '-7.5 ( 7.5 )'], ['2015 net revenue', '$ 696.3']]
the volume/weather variance is primarily due to an increase of 86 gwh , or 1% ( 1 % ) , in billed electricity usage , including the effect of more favorable weather on residential and commercial sales .the retail electric price variance is primarily due to a $ 16 million net annual increase in revenues , effective february 2015 , as a result of the mpsc order in the june 2014 rate case and an increase in revenues collected through the energy efficiency rider , partially offset by a decrease in revenues collected through the storm damage rider .the rate case included the realignment of certain costs from collection in riders to base rates .see note 2 to the financial statements for a discussion of the rate case , the energy efficiency rider , and the storm damage rider .the net wholesale revenue variance is primarily due to a wholesale customer contract termination in october transmission equalization revenue represents amounts received by entergy mississippi from certain other entergy utility operating companies , in accordance with the system agreement , to allocate the costs of collectively planning , constructing , and operating entergy 2019s bulk transmission facilities .the transmission equalization variance is primarily attributable to the realignment , effective february 2015 , of these revenues from the determination of base rates to inclusion in a rider .such revenues had a favorable effect on net revenue in 2014 , but minimal effect in 2015 .entergy mississippi exited the system agreement in november 2015 .see note 2 to the financial statements for a discussion of the system agreement .reserve equalization revenue represents amounts received by entergy mississippi from certain other entergy utility operating companies , in accordance with the system agreement , to allocate the costs of collectively maintaining adequate electric generating capacity across the entergy system .the reserve equalization variance is primarily attributable to the realignment , effective february 2015 , of these revenues from the determination of base rates to inclusion in a rider .such revenues had a favorable effect on net revenue in 2014 , but minimal effect in 2015 .entergy .
|
yes
| 767 | 241 |
242 |
what was the total fair value building that cytyc had finished constructing in 2008 including the fair market value of the land?
|
table of contents hologic , inc .notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) location during fiscal 2009 .the company was responsible for a significant portion of the construction costs and therefore was deemed , for accounting purposes , to be the owner of the building during the construction period , in accordance with asc 840 , leases , subsection 40-15-5 .during the year ended september 27 , 2008 , the company recorded an additional $ 4400 in fair market value of the building , which was completed in fiscal 2008 .this is in addition to the $ 3000 fair market value of the land and the $ 7700 fair market value related to the building constructed that cytyc had recorded as of october 22 , 2007 .the company has recorded such fair market value within property and equipment on its consolidated balance sheets .at september 26 , 2009 , the company has recorded $ 1508 in accrued expenses and $ 16329 in other long-term liabilities related to this obligation in the consolidated balance sheet .the term of the lease is for a period of approximately ten years with the option to extend for two consecutive five-year terms .the lease term commenced in may 2008 , at which time the company began transferring the company 2019s costa rican operations to this facility .it is expected that this process will be complete by february 2009 .at the completion of the construction period , the company reviewed the lease for potential sale-leaseback treatment in accordance with asc 840 , subsection 40 , sale-leaseback transactions ( formerly sfas no .98 ( 201csfas 98 201d ) , accounting for leases : sale-leaseback transactions involving real estate , sales-type leases of real estate , definition of the lease term , and initial direct costs of direct financing leases 2014an amendment of financial accounting standards board ( 201cfasb 201d ) statements no .13 , 66 , and 91 and a rescission of fasb statement no .26 and technical bulletin no .79-11 ) .based on its analysis , the company determined that the lease did not qualify for sale-leaseback treatment .therefore , the building , leasehold improvements and associated liabilities will remain on the company 2019s financial statements throughout the lease term , and the building and leasehold improvements will be depreciated on a straight line basis over their estimated useful lives of 35 years .future minimum lease payments , including principal and interest , under this lease were as follows at september 26 , 2009: .
[['', 'amount'], ['fiscal 2010', '$ 1508'], ['fiscal 2011', '1561'], ['fiscal 2012', '1616'], ['fiscal 2013', '1672'], ['fiscal 2014', '1731'], ['thereafter', '7288'], ['total minimum payments', '15376'], ['less-amount representing interest', '-6094 ( 6094 )'], ['total', '$ 9282']]
in addition , as a result of the merger with cytyc , the company assumed the obligation to a non-cancelable lease agreement for a building with approximately 146000 square feet located in marlborough , massachusetts , to be principally used as an additional manufacturing facility .in 2011 , the company will have an option to lease an additional 30000 square feet .as part of the lease agreement , the lessor agreed to allow the company to make significant renovations to the facility to prepare the facility for the company 2019s manufacturing needs .the company was responsible for a significant amount of the construction costs and therefore was deemed , for accounting purposes , to be the owner of the building during the construction period in accordance with asc 840-40-15-5 .the $ 13200 fair market value of the facility is included within property and equipment , net on the consolidated balance sheet .at september 26 , 2009 , the company has recorded $ 982 in accrued expenses and source : hologic inc , 10-k , november 24 , 2009 powered by morningstar ae document research 2120 the information contained herein may not be copied , adapted or distributed and is not warranted to be accurate , complete or timely .the user assumes all risks for any damages or losses arising from any use of this information , except to the extent such damages or losses cannot be limited or excluded by applicable law .past financial performance is no guarantee of future results. .
|
$ 15100 thousand
| 1,098 | 242 |
243 |
what is the ratio of securities remaining to securities issued?
|
part a0iii item a010 .directors , executive officers and corporate governance for the information required by this item a010 with respect to our executive officers , see part a0i , item 1 .of this report .for the other information required by this item a010 , see 201celection of directors , 201d 201cnominees for election to the board of directors , 201d 201ccorporate governance 201d and 201csection a016 ( a ) beneficial ownership reporting compliance , 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference .the proxy statement for our 2019 annual meeting will be filed within 120 a0days after the end of the fiscal year covered by this annual report on form 10-k .item a011 .executive compensation for the information required by this item a011 , see 201ccompensation discussion and analysis , 201d 201ccompensation committee report , 201d and 201cexecutive compensation 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference .item a012 .security ownership of certain beneficial owners and management and related stockholder matters for the information required by this item a012 with respect to beneficial ownership of our common stock , see 201csecurity ownership of certain beneficial owners and management 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference .the following table sets forth certain information as of december a031 , 2018 regarding our equity plans : plan category number of securities to be issued upon exercise of outstanding options , warrants and rights ( 1 ) weighted-average exercise price of outstanding options , warrants and rights number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ( b ) ( c ) equity compensation plans approved by security holders 1471449 $ 136.62 3578241 ( 1 ) the number of securities in column ( a ) include 22290 shares of common stock underlying performance stock units if maximum performance levels are achieved ; the actual number of shares , if any , to be issued with respect to the performance stock units will be based on performance with respect to specified financial and relative stock price measures .item a013 .certain relationships and related transactions , and director independence for the information required by this item a013 , see 201ccertain transactions 201d and 201ccorporate governance 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference .item a014 .principal accounting fees and services for the information required by this item a014 , see 201caudit and non-audit fees 201d and 201caudit committee pre-approval procedures 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference. .
[['plan category', 'number of securitiesto be issued uponexercise ofoutstanding options warrants and rights ( 1 ) ( a ) ( b )', 'weighted-averageexercise price ofoutstanding options warrants and rights', 'number of securitiesremaining available forfuture issuance underequity compensationplans ( excludingsecurities reflected in column ( a ) ) ( c )'], ['equity compensation plans approved by security holders', '1471449', '$ 136.62', '3578241']]
part a0iii item a010 .directors , executive officers and corporate governance for the information required by this item a010 with respect to our executive officers , see part a0i , item 1 .of this report .for the other information required by this item a010 , see 201celection of directors , 201d 201cnominees for election to the board of directors , 201d 201ccorporate governance 201d and 201csection a016 ( a ) beneficial ownership reporting compliance , 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference .the proxy statement for our 2019 annual meeting will be filed within 120 a0days after the end of the fiscal year covered by this annual report on form 10-k .item a011 .executive compensation for the information required by this item a011 , see 201ccompensation discussion and analysis , 201d 201ccompensation committee report , 201d and 201cexecutive compensation 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference .item a012 .security ownership of certain beneficial owners and management and related stockholder matters for the information required by this item a012 with respect to beneficial ownership of our common stock , see 201csecurity ownership of certain beneficial owners and management 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference .the following table sets forth certain information as of december a031 , 2018 regarding our equity plans : plan category number of securities to be issued upon exercise of outstanding options , warrants and rights ( 1 ) weighted-average exercise price of outstanding options , warrants and rights number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ( b ) ( c ) equity compensation plans approved by security holders 1471449 $ 136.62 3578241 ( 1 ) the number of securities in column ( a ) include 22290 shares of common stock underlying performance stock units if maximum performance levels are achieved ; the actual number of shares , if any , to be issued with respect to the performance stock units will be based on performance with respect to specified financial and relative stock price measures .item a013 .certain relationships and related transactions , and director independence for the information required by this item a013 , see 201ccertain transactions 201d and 201ccorporate governance 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference .item a014 .principal accounting fees and services for the information required by this item a014 , see 201caudit and non-audit fees 201d and 201caudit committee pre-approval procedures 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference. .
|
2.43:1
| 1,554 | 243 |
244 |
is the projected benefit obligation greater than the plan assets at fair value at september 30 1998?
|
the containerboard group ( a division of tenneco packaging inc. ) notes to combined financial statements ( continued ) april 11 , 1999 5 .pension and other benefit plans ( continued ) the funded status of the group 2019s allocation of defined benefit plans , excluding the retirement plan , reconciles with amounts recognized in the 1998 statements of assets and liabilities and interdivision account as follows ( in thousands ) : actuarial present value at september 30 , 1998 2014 .
[['vested benefit obligation', '$ -98512 ( 98512 )'], ['accumulated benefit obligation', '-108716 ( 108716 )'], ['projected benefit obligation', '$ -108716 ( 108716 )'], ['plan assets at fair value at september 30 1998', '146579'], ['unrecognized transition liability', '-1092 ( 1092 )'], ['unrecognized net gain', '-14623 ( 14623 )'], ['unrecognized prior service cost', '13455'], ['prepaid pension cost at december 31 1998', '$ 35603']]
the weighted average discount rate used in determining the actuarial present value of the benefit obligations was 7.00% ( 7.00 % ) for the year ended december 31 , 1998 .the weighted average expected long-term rate of return on plan assets was 10% ( 10 % ) for 1998 .middle management employees participate in a variety of incentive compensation plans .these plans provide for incentive payments based on the achievement of certain targeted operating results and other specific business goals .the targeted operating results are determined each year by senior management of packaging .the amounts charged to expense for these plans were $ 1599000 for the period ended april 11 , 1999 .in june , 1992 , tenneco initiated an employee stock purchase plan ( 2018 2018espp 2019 2019 ) .the plan allows u.s .and canadian employees of the group to purchase tenneco inc .common stock through payroll deductions at a 15% ( 15 % ) discount .each year , an employee in the plan may purchase shares with a discounted value not to exceed $ 21250 .the weighted average fair value of the employee purchase right , which was estimated using the black-scholes option pricing model and the assumptions described below except that the average life of each purchase right was assumed to be 90 days , was $ 6.31 for the period ended december 31 , 1998 .the espp was terminated as of september 30 , 1996 .tenneco adopted a new employee stock purchase plan effective april 1 , 1997 .under the respective espps , tenneco sold 36883 shares to group employees for the period ended april 11 , 1999 .in december , 1996 , tenneco adopted the 1996 stock ownership plan , which permits the granting of a variety of awards , including common stock , restricted stock , performance units , stock appreciation rights , and stock options to officers and employees of tenneco .tenneco can issue up to 17000000 shares of common stock under this plan , which will terminate december 31 , 2001 .the april 11 , 1999 , fair market value of the options granted was calculated using tenneco 2019s stock price at the grant date and multiplying the amount by the historical percentage of past black-scholes pricing values fair value ( approximately 25% ( 25 % ) ) .the fair value of each stock option issued by tenneco to the group in prior periods was estimated on the date of grant using the black-sholes option pricing model using the following ranges of weighted average assumptions for grants during the past three .
|
no
| 937 | 244 |
245 |
did the k series 5 year total return outperform the s&p 500?
|
stock performance graph the following graph sets forth the cumulative total shareholder return on our series a common stock , series b common stock and series c common stock as compared with the cumulative total return of the companies listed in the standard and poor 2019s 500 stock index ( 201cs&p 500 index 201d ) and a peer group of companies comprised of cbs corporation class b common stock , scripps network interactive , inc .( acquired by the company in march 2018 ) , time warner , inc .( acquired by at&t inc .in june 2018 ) , twenty-first century fox , inc .class a common stock ( news corporation class a common stock prior to june 2013 ) , viacom , inc .class b common stock and the walt disney company .the graph assumes $ 100 originally invested on december 31 , 2013 in each of our series a common stock , series b common stock and series c common stock , the s&p 500 index , and the stock of our peer group companies , including reinvestment of dividends , for the years ended december 31 , 2014 , 2015 , 2016 , 2017 and 2018 .two peer companies , scripps networks interactive , inc .and time warner , inc. , were acquired in 2018 .the stock performance chart shows the peer group including scripps networks interactive , inc .and time warner , inc .and excluding both acquired companies for the entire five year period .december 31 , december 31 , december 31 , december 31 , december 31 , december 31 .
[['', 'december 312013', 'december 312014', 'december 312015', 'december 312016', 'december 312017', 'december 312018'], ['disca', '$ 100.00', '$ 74.58', '$ 57.76', '$ 59.34', '$ 48.45', '$ 53.56'], ['discb', '$ 100.00', '$ 80.56', '$ 58.82', '$ 63.44', '$ 53.97', '$ 72.90'], ['disck', '$ 100.00', '$ 80.42', '$ 60.15', '$ 63.87', '$ 50.49', '$ 55.04'], ['s&p 500', '$ 100.00', '$ 111.39', '$ 110.58', '$ 121.13', '$ 144.65', '$ 135.63'], ['peer group incl . acquired companies', '$ 100.00', '$ 116.64', '$ 114.02', '$ 127.96', '$ 132.23', '$ 105.80'], ['peer group ex . acquired companies', '$ 100.00', '$ 113.23', '$ 117.27', '$ 120.58', '$ 127.90', '$ 141.58']]
equity compensation plan information information regarding securities authorized for issuance under equity compensation plans will be set forth in our definitive proxy statement for our 2019 annual meeting of stockholders under the caption 201csecurities authorized for issuance under equity compensation plans , 201d which is incorporated herein by reference. .
|
no
| 878 | 245 |
246 |
how much has the balance changed from 2013 to 2015?
|
undistributed earnings of $ 696.9 million from certain foreign subsidiaries are considered to be permanently reinvested abroad and will not be repatriated to the united states in the foreseeable future .because those earnings are considered to be indefinitely reinvested , no domestic federal or state deferred income taxes have been provided thereon .if we were to make a distribution of any portion of those earnings in the form of dividends or otherwise , we would be subject to both u.s .income taxes ( subject to an adjustment for foreign tax credits ) and withholding taxes payable to the various foreign jurisdictions .because of the availability of u.s .foreign tax credit carryforwards , it is not practicable to determine the domestic federal income tax liability that would be payable if such earnings were no longer considered to be reinvested indefinitely .a valuation allowance is provided against deferred tax assets when it is more likely than not that some portion or all of the deferred tax assets will not be realized .changes to our valuation allowance during the years ended may 31 , 2015 and 2014 are summarized below ( in thousands ) : .
[['balance at may 31 2013', '$ -28464 ( 28464 )'], ['utilization of foreign net operating loss carryforwards', '2822'], ['allowance for foreign tax credit carryforward', '18061'], ['other', '382'], ['balance at may 31 2014', '-7199 ( 7199 )'], ['utilization of foreign net operating loss carryforwards', '3387'], ['other', '-11 ( 11 )'], ['balance at may 31 2015', '$ -3823 ( 3823 )']]
net operating loss carryforwards of foreign subsidiaries totaling $ 12.4 million and u.s .net operating loss carryforwards previously acquired totaling $ 19.8 million at may 31 , 2015 will expire between may 31 , 2017 and may 31 , 2033 if not utilized .capital loss carryforwards of u.s .subsidiaries totaling $ 4.7 million will expire if not utilized by may 31 , 2017 .tax credit carryforwards totaling $ 8.4 million at may 31 , 2015 will expire between may 31 , 2017 and may 31 , 2023 if not utilized .we conduct business globally and file income tax returns in the u.s .federal jurisdiction and various state and foreign jurisdictions .in the normal course of business , we are subject to examination by taxing authorities around the world .as a result of events that occurred in the fourth quarter of the year ended may 31 , 2015 , management concluded that it was more likely than not that the tax positions in a foreign jurisdiction , for which we had recorded estimated liabilities of $ 65.6 million in other noncurrent liabilities on our consolidated balance sheet , would be sustained on their technical merits based on information available as of may 31 , 2015 .therefore , the liability and corresponding deferred tax assets were eliminated as of may 31 , 2015 .the uncertain tax positions have been subject to an ongoing examination in that foreign jurisdiction by the tax authority .discussions and correspondence between the tax authority and us during the fourth quarter indicated that the likelihood of the positions being sustained had increased .subsequent to may 31 , 2015 , we received a final closure notice regarding the examination resulting in no adjustments to taxable income related to this matter for the tax returns filed for the periods ended may 31 , 2010 through may 31 , 2013 .the unrecognized tax benefits were effectively settled with this final closure notice .we are no longer subjected to state income tax examinations for years ended on or before may 31 , 2008 , u.s .federal income tax examinations for fiscal years prior to 2012 and united kingdom federal income tax examinations for years ended on or before may 31 , 2013 .78 2013 global payments inc .| 2015 form 10-k annual report .
|
increased $ 24641 thousand
| 957 | 246 |
247 |
is the long term debt maturing in 2021 greater than 2022?
|
in january 2016 , the company issued $ 800 million of debt securities consisting of a $ 400 million aggregate principal three year fixed rate note with a coupon rate of 2.00% ( 2.00 % ) and a $ 400 million aggregate principal seven year fixed rate note with a coupon rate of 3.25% ( 3.25 % ) .the proceeds were used to repay a portion of the company 2019s outstanding commercial paper , repay the remaining term loan balance , and for general corporate purposes .the company 2019s public notes and 144a notes may be redeemed by the company at its option at redemption prices that include accrued and unpaid interest and a make-whole premium .upon the occurrence of a change of control accompanied by a downgrade of the notes below investment grade rating , within a specified time period , the company would be required to offer to repurchase the public notes and 144a notes at a price equal to 101% ( 101 % ) of the aggregate principal amount thereof , plus any accrued and unpaid interest to the date of repurchase .the public notes and 144a notes are senior unsecured and unsubordinated obligations of the company and rank equally with all other senior and unsubordinated indebtedness of the company .the company entered into a registration rights agreement in connection with the issuance of the 144a notes .subject to certain limitations set forth in the registration rights agreement , the company has agreed to ( i ) file a registration statement ( the 201cexchange offer registration statement 201d ) with respect to registered offers to exchange the 144a notes for exchange notes ( the 201cexchange notes 201d ) , which will have terms identical in all material respects to the new 10-year notes and new 30-year notes , as applicable , except that the exchange notes will not contain transfer restrictions and will not provide for any increase in the interest rate thereon in certain circumstances and ( ii ) use commercially reasonable efforts to cause the exchange offer registration statement to be declared effective within 270 days after the date of issuance of the 144a notes .until such time as the exchange offer registration statement is declared effective , the 144a notes may only be sold in accordance with rule 144a or regulation s of the securities act of 1933 , as amended .private notes the company 2019s private notes may be redeemed by the company at its option at redemption prices that include accrued and unpaid interest and a make-whole premium .upon the occurrence of specified changes of control involving the company , the company would be required to offer to repurchase the private notes at a price equal to 100% ( 100 % ) of the aggregate principal amount thereof , plus any accrued and unpaid interest to the date of repurchase .additionally , the company would be required to make a similar offer to repurchase the private notes upon the occurrence of specified merger events or asset sales involving the company , when accompanied by a downgrade of the private notes below investment grade rating , within a specified time period .the private notes are unsecured senior obligations of the company and rank equal in right of payment with all other senior indebtedness of the company .the private notes shall be unconditionally guaranteed by subsidiaries of the company in certain circumstances , as described in the note purchase agreements as amended .other debt during 2015 , the company acquired the beneficial interest in the trust owning the leased naperville facility resulting in debt assumption of $ 100.2 million and the addition of $ 135.2 million in property , plant and equipment .certain administrative , divisional , and research and development personnel are based at the naperville facility .cash paid as a result of the transaction was $ 19.8 million .the assumption of debt and the majority of the property , plant and equipment addition represented non-cash financing and investing activities , respectively .the remaining balance on the assumed debt was settled in december 2017 and was reflected in the "other" line of the table above at december 31 , 2016 .covenants and future maturities the company is in compliance with all covenants under the company 2019s outstanding indebtedness at december 31 , 2017 .as of december 31 , 2017 , the aggregate annual maturities of long-term debt for the next five years were : ( millions ) .
[['2018', '$ 550'], ['2019', '397'], ['2020', '300'], ['2021', '1017'], ['2022', '497']]
.
|
yes
| 1,049 | 247 |
248 |
did the b series stock's 5 year performance beat the s&p 500?
|
stock performance graph the following graph sets forth the cumulative total shareholder return on our series a common stock , series b common stock and series c common stock as compared with the cumulative total return of the companies listed in the standard and poor 2019s 500 stock index ( 201cs&p 500 index 201d ) and a peer group of companies comprised of cbs corporation class b common stock , scripps network interactive , inc .( acquired by the company in march 2018 ) , time warner , inc .( acquired by at&t inc .in june 2018 ) , twenty-first century fox , inc .class a common stock ( news corporation class a common stock prior to june 2013 ) , viacom , inc .class b common stock and the walt disney company .the graph assumes $ 100 originally invested on december 31 , 2013 in each of our series a common stock , series b common stock and series c common stock , the s&p 500 index , and the stock of our peer group companies , including reinvestment of dividends , for the years ended december 31 , 2014 , 2015 , 2016 , 2017 and 2018 .two peer companies , scripps networks interactive , inc .and time warner , inc. , were acquired in 2018 .the stock performance chart shows the peer group including scripps networks interactive , inc .and time warner , inc .and excluding both acquired companies for the entire five year period .december 31 , december 31 , december 31 , december 31 , december 31 , december 31 .
[['', 'december 312013', 'december 312014', 'december 312015', 'december 312016', 'december 312017', 'december 312018'], ['disca', '$ 100.00', '$ 74.58', '$ 57.76', '$ 59.34', '$ 48.45', '$ 53.56'], ['discb', '$ 100.00', '$ 80.56', '$ 58.82', '$ 63.44', '$ 53.97', '$ 72.90'], ['disck', '$ 100.00', '$ 80.42', '$ 60.15', '$ 63.87', '$ 50.49', '$ 55.04'], ['s&p 500', '$ 100.00', '$ 111.39', '$ 110.58', '$ 121.13', '$ 144.65', '$ 135.63'], ['peer group incl . acquired companies', '$ 100.00', '$ 116.64', '$ 114.02', '$ 127.96', '$ 132.23', '$ 105.80'], ['peer group ex . acquired companies', '$ 100.00', '$ 113.23', '$ 117.27', '$ 120.58', '$ 127.90', '$ 141.58']]
equity compensation plan information information regarding securities authorized for issuance under equity compensation plans will be set forth in our definitive proxy statement for our 2019 annual meeting of stockholders under the caption 201csecurities authorized for issuance under equity compensation plans , 201d which is incorporated herein by reference. .
|
no
| 878 | 248 |
249 |
what would the effect on total of service and interest cost components as a result of a 2 percent point increase?
|
the discount rate assumption was determined for the pension and postretirement benefit plans independently .at year-end 2011 , the company began using an approach that approximates the process of settlement of obligations tailored to the plans 2019 expected cash flows by matching the plans 2019 cash flows to the coupons and expected maturity values of individually selected bonds .the yield curve was developed for a universe containing the majority of u.s.-issued aa-graded corporate bonds , all of which were non callable ( or callable with make-whole provisions ) .historically , for each plan , the discount rate was developed as the level equivalent rate that would produce the same present value as that using spot rates aligned with the projected benefit payments .the expected long-term rate of return on plan assets is based on historical and projected rates of return , prior to administrative and investment management fees , for current and planned asset classes in the plans 2019 investment portfolios .assumed projected rates of return for each of the plans 2019 projected asset classes were selected after analyzing historical experience and future expectations of the returns and volatility of the various asset classes .based on the target asset allocation for each asset class , the overall expected rate of return for the portfolio was developed , adjusted for historical and expected experience of active portfolio management results compared to the benchmark returns and for the effect of expenses paid from plan assets .the company 2019s pension expense increases as the expected return on assets decreases .in the determination of year end 2014 projected benefit plan obligations , the company adopted a new table based on the society of actuaries rp 2014 mortality table including a generational bb-2d projection scale .the adoption resulted in a significant increase to pension and other postretirement benefit plans 2019 projected benefit obligations .assumed health care cost trend rates have a significant effect on the amounts reported for the other postretirement benefit plans .the health care cost trend rate is based on historical rates and expected market conditions .a one-percentage-point change in assumed health care cost trend rates would have the following effects : one-percentage-point increase one-percentage-point decrease effect on total of service and interest cost components ...............$ 5943 $ ( 4887 ) effect on other postretirement benefit obligation ....................$ 105967 $ ( 86179 ) .
[['', 'one-percentage-point increase', 'one-percentage-point decrease'], ['effect on total of service and interest cost components', '$ 5943', '$ -4887 ( 4887 )'], ['effect on other postretirement benefit obligation', '$ 105967', '$ -86179 ( 86179 )']]
the discount rate assumption was determined for the pension and postretirement benefit plans independently .at year-end 2011 , the company began using an approach that approximates the process of settlement of obligations tailored to the plans 2019 expected cash flows by matching the plans 2019 cash flows to the coupons and expected maturity values of individually selected bonds .the yield curve was developed for a universe containing the majority of u.s.-issued aa-graded corporate bonds , all of which were non callable ( or callable with make-whole provisions ) .historically , for each plan , the discount rate was developed as the level equivalent rate that would produce the same present value as that using spot rates aligned with the projected benefit payments .the expected long-term rate of return on plan assets is based on historical and projected rates of return , prior to administrative and investment management fees , for current and planned asset classes in the plans 2019 investment portfolios .assumed projected rates of return for each of the plans 2019 projected asset classes were selected after analyzing historical experience and future expectations of the returns and volatility of the various asset classes .based on the target asset allocation for each asset class , the overall expected rate of return for the portfolio was developed , adjusted for historical and expected experience of active portfolio management results compared to the benchmark returns and for the effect of expenses paid from plan assets .the company 2019s pension expense increases as the expected return on assets decreases .in the determination of year end 2014 projected benefit plan obligations , the company adopted a new table based on the society of actuaries rp 2014 mortality table including a generational bb-2d projection scale .the adoption resulted in a significant increase to pension and other postretirement benefit plans 2019 projected benefit obligations .assumed health care cost trend rates have a significant effect on the amounts reported for the other postretirement benefit plans .the health care cost trend rate is based on historical rates and expected market conditions .a one-percentage-point change in assumed health care cost trend rates would have the following effects : one-percentage-point increase one-percentage-point decrease effect on total of service and interest cost components ...............$ 5943 $ ( 4887 ) effect on other postretirement benefit obligation ....................$ 105967 $ ( 86179 ) .
|
$ 11886
| 1,109 | 249 |
250 |
how much is the goodwill worth in 2016 if the intangible assets are worth $ 31.1 million?
|
note 4 - goodwill and other intangible assets : goodwill the company had approximately $ 93.2 million and $ 94.4 million of goodwill at december 30 , 2017 and december 31 , 2016 , respectively .the changes in the carrying amount of goodwill for the years ended december 30 , 2017 and december 31 , 2016 are as follows ( in thousands ) : .
[['', '2017', '2016'], ['balance beginning of year', '$ 94417', '$ 10258'], ['goodwill acquired as part of acquisition', '2014', '84159'], ['working capital settlement', '-1225 ( 1225 )', '2014'], ['impairment loss', '2014', '2014'], ['balance end of year', '$ 93192', '$ 94417']]
goodwill is allocated to each identified reporting unit , which is defined as an operating segment or one level below the operating segment .goodwill is not amortized , but is evaluated for impairment annually and whenever events or changes in circumstances indicate the carrying value of goodwill may not be recoverable .the company completes its impairment evaluation by performing valuation analyses and considering other publicly available market information , as appropriate .the test used to identify the potential for goodwill impairment compares the fair value of a reporting unit with its carrying value .an impairment charge would be recorded to the company 2019s operations for the amount , if any , in which the carrying value exceeds the fair value .in the fourth quarter of fiscal 2017 , the company completed its annual impairment testing of goodwill and no impairment was identified .the company determined that the fair value of each reporting unit ( including goodwill ) was in excess of the carrying value of the respective reporting unit .in reaching this conclusion , the fair value of each reporting unit was determined based on either a market or an income approach .under the market approach , the fair value is based on observed market data .other intangible assets the company had approximately $ 31.3 million of intangible assets other than goodwill at december 30 , 2017 and december 31 , 2016 .the intangible asset balance represents the estimated fair value of the petsense tradename , which is not subject to amortization as it has an indefinite useful life on the basis that it is expected to contribute cash flows beyond the foreseeable horizon .with respect to intangible assets , we evaluate for impairment annually and whenever events or changes in circumstances indicate that the carrying value may not be recoverable .we recognize an impairment loss only if the carrying amount is not recoverable through its discounted cash flows and measure the impairment loss based on the difference between the carrying value and fair value .in the fourth quarter of fiscal 2017 , the company completed its annual impairment testing of intangible assets and no impairment was identified. .
|
$ 63.1 million
| 672 | 250 |
251 |
what is the company's net valuation allowance at the end of 2013?
|
the following table summarizes the changes in the company 2019s valuation allowance: .
[['balance at january 1 2011', '$ 23788'], ['increases in current period tax positions', '1525'], ['decreases in current period tax positions', '-3734 ( 3734 )'], ['balance at december 31 2011', '$ 21579'], ['increases in current period tax positions', '0'], ['decreases in current period tax positions', '-2059 ( 2059 )'], ['balance at december 31 2012', '$ 19520'], ['increases in current period tax positions', '0'], ['decreases in current period tax positions', '-5965 ( 5965 )'], ['balance at december 31 2013', '$ 13555']]
included in 2013 is a discrete tax benefit totaling $ 2979 associated with an entity re-organization within the company 2019s market-based segment that allowed for the utilization of state net operating loss carryforwards and the release of an associated valuation allowance .note 14 : employee benefits pension and other postretirement benefits the company maintains noncontributory defined benefit pension plans covering eligible employees of its regulated utility and shared services operations .benefits under the plans are based on the employee 2019s years of service and compensation .the pension plans have been closed for all employees .the pension plans were closed for most employees hired on or after january 1 , 2006 .union employees hired on or after january 1 , 2001 had their accrued benefit frozen and will be able to receive this benefit as a lump sum upon termination or retirement .union employees hired on or after january 1 , 2001 and non-union employees hired on or after january 1 , 2006 are provided with a 5.25% ( 5.25 % ) of base pay defined contribution plan .the company does not participate in a multiemployer plan .the company 2019s pension funding practice is to contribute at least the greater of the minimum amount required by the employee retirement income security act of 1974 or the normal cost .further , the company will consider additional contributions if needed to avoid 201cat risk 201d status and benefit restrictions under the pension protection act of 2006 .the company may also consider increased contributions , based on other financial requirements and the plans 2019 funded position .pension plan assets are invested in a number of actively managed and indexed investments including equity and bond mutual funds , fixed income securities , guaranteed interest contracts with insurance companies and real estate investment trusts ( 201creits 201d ) .pension expense in excess of the amount contributed to the pension plans is deferred by certain regulated subsidiaries pending future recovery in rates charged for utility services as contributions are made to the plans .( see note 6 ) the company also has unfunded noncontributory supplemental non-qualified pension plans that provide additional retirement benefits to certain employees .the company maintains other postretirement benefit plans providing varying levels of medical and life insurance to eligible retirees .the retiree welfare plans are closed for union employees hired on or after january 1 , 2006 .the plans had previously closed for non-union employees hired on or after january 1 , 2002 .the company 2019s policy is to fund other postretirement benefit costs for rate-making purposes .assets of the plans are invested in equity mutual funds , bond mutual funds and fixed income securities. .
|
$ 10576
| 832 | 251 |
252 |
were total revisions of estimates greater than accretion of discounts?
|
supplementary information on oil and gas producing activities ( unaudited ) changes in the standardized measure of discounted future net cash flows .
[['( in millions )', '2009', '2008', '2007'], ['sales and transfers of oil and gas produced net of production andadministrative costs', '$ -4876 ( 4876 )', '$ -6863 ( 6863 )', '$ -4613 ( 4613 )'], ['net changes in prices and production and administrative costs related tofuture production', '4840', '-18683 ( 18683 )', '12344'], ['extensions discoveries and improved recovery less related costs', '1399', '663', '1816'], ['development costs incurred during the period', '2786', '1774', '1569'], ['changes in estimated future development costs', '-3641 ( 3641 )', '-1436 ( 1436 )', '-1706 ( 1706 )'], ['revisions of previous quantity estimates', '5110', '85', '166'], ['net changes in purchases and sales of minerals in place', '-159 ( 159 )', '-13 ( 13 )', '23'], ['accretion of discount', '787', '2724', '1696'], ['net change in income taxes', '-4441 ( 4441 )', '12633', '-6647 ( 6647 )'], ['timing and other', '-149 ( 149 )', '184', '-31 ( 31 )'], ['net change for the year', '1656', '-8932 ( 8932 )', '4617'], ['beginning of the year', '4035', '12967', '8350'], ['end of year', '$ 5691', '$ 4035', '$ 12967'], ['net change for the year from discontinued operations', '$ -', '$ 284', '$ 528']]
.
|
yes
| 529 | 252 |
253 |
what was the total decrease of cost of sales due to the adoption of the lifo method
|
advance auto parts , inc .and subsidiaries notes to consolidated financial statements 2013 ( continued ) december 30 , 2006 , december 31 , 2005 and january 1 , 2005 ( in thousands , except per share data ) 8 .inventories , net inventories are stated at the lower of cost or market , cost being determined using the last-in , first-out ( "lifo" ) method for approximately 93% ( 93 % ) of inventories at both december 30 , 2006 and december 31 , 2005 .under the lifo method , the company 2019s cost of sales reflects the costs of the most currently purchased inventories while the inventory carrying balance represents the costs relating to prices paid in prior years .the company 2019s costs to acquire inventory have been generally decreasing in recent years as a result of its significant growth .accordingly , the cost to replace inventory is less than the lifo balances carried for similar product .as a result of the lifo method and the ability to obtain lower product costs , the company recorded a reduction to cost of sales of $ 9978 for fiscal year ended 2006 , an increase in cost of sales of $ 526 for fiscal year ended 2005 and a reduction to cost of sales of $ 11212 for fiscal year ended 2004 .the remaining inventories are comprised of product cores , which consist of the non-consumable portion of certain parts and batteries and are valued under the first-in , first-out ( "fifo" ) method .core values are included as part of our merchandise costs and are either passed on to the customer or returned to the vendor .additionally , these products are not subject to the frequent cost changes like our other merchandise inventory , thus , there is no material difference from applying either the lifo or fifo valuation methods .the company capitalizes certain purchasing and warehousing costs into inventory .purchasing and warehousing costs included in inventory , at fifo , at december 30 , 2006 and december 31 , 2005 , were $ 95576 and $ 92833 , respectively .inventories consist of the following : december 30 , december 31 , 2006 2005 .
[['', 'december 30 2006', 'december 31 2005'], ['inventories at fifo net', '$ 1380573', '$ 1294310'], ['adjustments to state inventories at lifo', '82767', '72789'], ['inventories at lifo net', '$ 1463340', '$ 1367099']]
replacement cost approximated fifo cost at december 30 , 2006 and december 31 , 2005 .inventory quantities are tracked through a perpetual inventory system .the company uses a cycle counting program in all distribution centers , parts delivered quickly warehouses , or pdqs , local area warehouses , or laws , and retail stores to ensure the accuracy of the perpetual inventory quantities of both merchandise and core inventory .the company establishes reserves for estimated shrink based on historical accuracy and effectiveness of the cycle counting program .the company also establishes reserves for potentially excess and obsolete inventories based on current inventory levels and the historical analysis of product sales and current market conditions .the nature of the company 2019s inventory is such that the risk of obsolescence is minimal and excess inventory has historically been returned to the company 2019s vendors for credit .the company provides reserves when less than full credit is expected from a vendor or when liquidating product will result in retail prices below recorded costs .the company 2019s reserves against inventory for these matters were $ 31376 and $ 22825 at december 30 , 2006 and december 31 , 2005 , respectively .9 .property and equipment : property and equipment are stated at cost , less accumulated depreciation .expenditures for maintenance and repairs are charged directly to expense when incurred ; major improvements are capitalized .when items are sold or retired , the related cost and accumulated depreciation are removed from the accounts , with any gain or loss reflected in the consolidated statements of operations .depreciation of land improvements , buildings , furniture , fixtures and equipment , and vehicles is provided over the estimated useful lives , which range from 2 to 40 years , of the respective assets using the straight-line method. .
|
$ 20630 decrease in cost of sales
| 1,032 | 253 |
254 |
were significant additions to proved undeveloped reserves during 2013 in the eagle ford greater than the bakken?
|
changes in proved undeveloped reserves as of december 31 , 2013 , 627 mmboe of proved undeveloped reserves were reported , an increase of 56 mmboe from december 31 , 2012 .the following table shows changes in total proved undeveloped reserves for 2013 : ( mmboe ) .
[['beginning of year', '571'], ['revisions of previous estimates', '4'], ['improved recovery', '7'], ['purchases of reserves in place', '16'], ['extensions discoveries and other additions', '142'], ['dispositions', '-4 ( 4 )'], ['transfer to proved developed', '-109 ( 109 )'], ['end of year', '627']]
significant additions to proved undeveloped reserves during 2013 included 72 mmboe in the eagle ford and 49 mmboe in the bakken shale plays due to development drilling .transfers from proved undeveloped to proved developed reserves included 57 mmboe in the eagle ford , 18 mmboe in the bakken and 7 mmboe in the oklahoma resource basins due to producing wells .costs incurred in 2013 , 2012 and 2011 relating to the development of proved undeveloped reserves , were $ 2536 million , $ 1995 million and $ 1107 million .a total of 59 mmboe was booked as a result of reliable technology .technologies included statistical analysis of production performance , decline curve analysis , rate transient analysis , reservoir simulation and volumetric analysis .the statistical nature of production performance coupled with highly certain reservoir continuity or quality within the reliable technology areas and sufficient proved undeveloped locations establish the reasonable certainty criteria required for booking reserves .projects can remain in proved undeveloped reserves for extended periods in certain situations such as large development projects which take more than five years to complete , or the timing of when additional gas compression is needed .of the 627 mmboe of proved undeveloped reserves at december 31 , 2013 , 24 percent of the volume is associated with projects that have been included in proved reserves for more than five years .the majority of this volume is related to a compression project in e.g .that was sanctioned by our board of directors in 2004 .the timing of the installation of compression is being driven by the reservoir performance with this project intended to maintain maximum production levels .performance of this field since the board sanctioned the project has far exceeded expectations .estimates of initial dry gas in place increased by roughly 10 percent between 2004 and 2010 .during 2012 , the compression project received the approval of the e.g .government , allowing design and planning work to progress towards implementation , with completion expected by mid-2016 .the other component of alba proved undeveloped reserves is an infill well approved in 2013 and to be drilled late 2014 .proved undeveloped reserves for the north gialo development , located in the libyan sahara desert , were booked for the first time as proved undeveloped reserves in 2010 .this development , which is anticipated to take more than five years to be developed , is being executed by the operator and encompasses a continuous drilling program including the design , fabrication and installation of extensive liquid handling and gas recycling facilities .anecdotal evidence from similar development projects in the region led to an expected project execution of more than five years from the time the reserves were initially booked .interruptions associated with the civil unrest in 2011 and third-party labor strikes in 2013 have extended the project duration .there are no other significant undeveloped reserves expected to be developed more than five years after their original booking .as of december 31 , 2013 , future development costs estimated to be required for the development of proved undeveloped liquid hydrocarbon , natural gas and synthetic crude oil reserves related to continuing operations for the years 2014 through 2018 are projected to be $ 2894 million , $ 2567 million , $ 2020 million , $ 1452 million and $ 575 million .the timing of future projects and estimated future development costs relating to the development of proved undeveloped liquid hydrocarbon , natural gas and synthetic crude oil reserves are forward-looking statements and are based on a number of assumptions , including ( among others ) commodity prices , presently known physical data concerning size and character of the reservoirs , economic recoverability , technology developments , future drilling success , industry economic conditions , levels of cash flow from operations , production experience and other operating considerations .to the extent these assumptions prove inaccurate , actual recoveries , timing and development costs could be different than current estimates. .
|
yes
| 1,079 | 254 |
255 |
based on the total holders of common stock as of february 16 , 2012 , what was the market share of mktx common stock?
|
table of contents index to financial statements item 3 .legal proceedings .item 4 .mine safety disclosures .not applicable .part ii price range our common stock trades on the nasdaq global select market under the symbol 201cmktx 201d .the range of closing price information for our common stock , as reported by nasdaq , was as follows : on february 16 , 2012 , the last reported closing price of our common stock on the nasdaq global select market was $ 32.65 .holders there were 41 holders of record of our common stock as of february 16 , 2012 .dividend policy we initiated a regular quarterly dividend in the fourth quarter of 2009 .during 2010 and 2011 , we paid quarterly cash dividends of $ 0.07 per share and $ 0.09 per share , respectively .in january 2012 , our board of directors approved a quarterly cash dividend of $ 0.11 per share payable on march 1 , 2012 to stockholders of record as of the close of business on february 16 , 2012 .any future declaration and payment of dividends will be at the sole discretion of the company 2019s board of directors .the board of directors may take into account such matters as general business conditions , the company 2019s financial results , capital requirements , contractual , legal , and regulatory restrictions on the payment of dividends to the company 2019s stockholders or by the company 2019s subsidiaries to the parent and any such other factors as the board of directors may deem relevant .recent sales of unregistered securities item 5 .market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities. .
[['2011:', 'high', 'low'], ['january 1 2011 to march 31 2011', '$ 24.19', '$ 19.78'], ['april 1 2011 to june 30 2011', '$ 25.22', '$ 21.00'], ['july 1 2011 to september 30 2011', '$ 30.75', '$ 23.41'], ['october 1 2011 to december 31 2011', '$ 31.16', '$ 24.57'], ['2010:', 'high', 'low'], ['january 1 2010 to march 31 2010', '$ 16.20', '$ 13.25'], ['april 1 2010 to june 30 2010', '$ 17.40', '$ 13.45'], ['july 1 2010 to september 30 2010', '$ 17.30', '$ 12.39'], ['october 1 2010 to december 31 2010', '$ 20.93', '$ 16.93']]
.
|
$ 1338.65
| 769 | 255 |
256 |
was the ultimate trend rate greater in 2017 than in 2016?
|
marathon oil corporation notes to consolidated financial statements expected long-term return on plan assets 2013 the expected long-term return on plan assets assumption for our u.s .funded plan is determined based on an asset rate-of-return modeling tool developed by a third-party investment group which utilizes underlying assumptions based on actual returns by asset category and inflation and takes into account our u.s .pension plan 2019s asset allocation .to determine the expected long-term return on plan assets assumption for our international plans , we consider the current level of expected returns on risk-free investments ( primarily government bonds ) , the historical levels of the risk premiums associated with the other applicable asset categories and the expectations for future returns of each asset class .the expected return for each asset category is then weighted based on the actual asset allocation to develop the overall expected long-term return on plan assets assumption .assumed weighted average health care cost trend rates .
[['', '2018', '2017', '2016'], ['initial health care trend rate', 'n/a', '8.00% ( 8.00 % )', '8.25% ( 8.25 % )'], ['ultimate trend rate', 'n/a', '4.70% ( 4.70 % )', '4.50% ( 4.50 % )'], ['year ultimate trend rate is reached', 'n/a', '2025', '2025']]
n/a all retiree medical subsidies are frozen as of january 1 , 2019 .employer provided subsidies for post-65 retiree health care coverage were frozen effective january 1 , 2017 at january 1 , 2016 established amount levels .company contributions are funded to a health reimbursement account on the retiree 2019s behalf to subsidize the retiree 2019s cost of obtaining health care benefits through a private exchange ( the 201cpost-65 retiree health benefits 201d ) .therefore , a 1% ( 1 % ) change in health care cost trend rates would not have a material impact on either the service and interest cost components and the postretirement benefit obligations .in the fourth quarter of 2018 , we terminated the post-65 retiree health benefits effective as of december 31 , 2020 .the post-65 retiree health benefits will no longer be provided after that date .in addition , the pre-65 retiree medical coverage subsidy has been frozen as of january 1 , 2019 , and the ability for retirees to opt in and out of this coverage , as well as pre-65 retiree dental and vision coverage , has also been eliminated .retirees must enroll in connection with retirement for such coverage , or they lose eligibility .these plan changes reduced our retiree medical benefit obligation by approximately $ 99 million .plan investment policies and strategies 2013 the investment policies for our u.s .and international pension plan assets reflect the funded status of the plans and expectations regarding our future ability to make further contributions .long-term investment goals are to : ( 1 ) manage the assets in accordance with applicable legal requirements ; ( 2 ) produce investment returns which meet or exceed the rates of return achievable in the capital markets while maintaining the risk parameters set by the plan's investment committees and protecting the assets from any erosion of purchasing power ; and ( 3 ) position the portfolios with a long-term risk/ return orientation .investment performance and risk is measured and monitored on an ongoing basis through quarterly investment meetings and periodic asset and liability studies .u.s .plan 2013 the plan 2019s current targeted asset allocation is comprised of 55% ( 55 % ) equity securities and 45% ( 45 % ) other fixed income securities .over time , as the plan 2019s funded ratio ( as defined by the investment policy ) improves , in order to reduce volatility in returns and to better match the plan 2019s liabilities , the allocation to equity securities will decrease while the amount allocated to fixed income securities will increase .the plan's assets are managed by a third-party investment manager .international plan 2013 our international plan's target asset allocation is comprised of 55% ( 55 % ) equity securities and 45% ( 45 % ) fixed income securities .the plan assets are invested in ten separate portfolios , mainly pooled fund vehicles , managed by several professional investment managers whose performance is measured independently by a third-party asset servicing consulting fair value measurements 2013 plan assets are measured at fair value .the following provides a description of the valuation techniques employed for each major plan asset class at december 31 , 2018 and 2017 .cash and cash equivalents 2013 cash and cash equivalents are valued using a market approach and are considered level 1 .equity securities 2013 investments in common stock are valued using a market approach at the closing price reported in an active market and are therefore considered level 1 .private equity investments include interests in limited partnerships which are valued based on the sum of the estimated fair values of the investments held by each partnership , determined using a combination of market , income and cost approaches , plus working capital , adjusted for liabilities , currency translation and estimated performance incentives .these private equity investments are considered level 3 .investments in pooled funds are valued using a market approach , these various funds consist of equity with underlying investments held in u.s .and non-u.s .securities .the pooled funds are benchmarked against a relative public index and are considered level 2. .
|
yes
| 1,231 | 256 |
257 |
what is the total amount of principle payment paid from 2008 to 2011?
|
notes to consolidated financial statements 2014 ( continued ) merchant acquiring business in the united kingdom to the partnership .in addition , hsbc uk entered into a ten-year marketing alliance with the partnership in which hsbc uk will refer customers to the partnership for payment processing services in the united kingdom .on june 23 , 2008 , we entered into a new five year , $ 200 million term loan to fund a portion of the acquisition .we funded the remaining purchase price with excess cash and our existing credit facilities .the term loan bears interest , at our election , at the prime rate or london interbank offered rate plus a margin based on our leverage position .as of july 1 , 2008 , the interest rate on the term loan was 3.605% ( 3.605 % ) .the term loan calls for quarterly principal payments of $ 5 million beginning with the quarter ending august 31 , 2008 and increasing to $ 10 million beginning with the quarter ending august 31 , 2010 and $ 15 million beginning with the quarter ending august 31 , 2011 .the partnership agreement includes provisions pursuant to which hsbc uk may compel us to purchase , at fair value , additional membership units from hsbc uk ( the 201cput option 201d ) .hsbc uk may exercise the put option on the fifth anniversary of the closing of the acquisition and on each anniversary thereafter .by exercising the put option , hsbc uk can require us to purchase , on an annual basis , up to 15% ( 15 % ) of the total membership units .additionally , on the tenth anniversary of closing and each tenth anniversary thereafter , hsbc uk may compel us to purchase all of their membership units at fair value .while not redeemable until june 2013 , we estimate the maximum total redemption amount of the minority interest under the put option would be $ 421.4 million , as of may 31 , 2008 .the purpose of this acquisition was to establish a presence in the united kingdom .the key factors that contributed to the decision to make this acquisition include historical and prospective financial statement analysis and hsbc uk 2019s market share and retail presence in the united kingdom .the purchase price was determined by analyzing the historical and prospective financial statements and applying relevant purchase price multiples .the purchase price totaled $ 441.1 million , consisting of $ 438.6 million cash consideration plus $ 2.5 million of direct out of pocket costs .the acquisition has been recorded using the purchase method of accounting , and , accordingly , the purchase price has been allocated to the assets acquired and liabilities assumed based on their estimated fair values at the date of acquisition .the following table summarizes the preliminary purchase price allocation: .
[['', 'total'], ['goodwill', '$ 294741'], ['customer-related intangible assets', '116920'], ['contract-based intangible assets', '13437'], ['trademark', '2204'], ['property and equipment', '26955'], ['other current assets', '100'], ['total assets acquired', '454357'], ['minority interest in equity of subsidiary ( at historical cost )', '-13257 ( 13257 )'], ['net assets acquired', '$ 441100']]
due to the recent timing of the transaction , the allocation of the purchase price is preliminary .all of the goodwill associated with the acquisition is expected to be deductible for tax purposes .the customer-related intangible assets have amortization periods of up to 13 years .the contract-based intangible assets have amortization periods of 7 years .the trademark has an amortization period of 5 years. .
|
$ 30 million
| 850 | 257 |
258 |
what was the total expense related to contribution plans from 2008 to 2010
|
the following is a schedule of future minimum rental payments required under long-term operating leases at october 30 , 2010 : fiscal years operating leases .
[['fiscal years', 'operating leases'], ['2011', '$ 21871'], ['2012', '12322'], ['2013', '9078'], ['2014', '6381'], ['2015', '5422'], ['later years', '30655'], ['total', '$ 85729']]
12 .commitments and contingencies from time to time in the ordinary course of the company 2019s business , various claims , charges and litigation are asserted or commenced against the company arising from , or related to , contractual matters , patents , trademarks , personal injury , environmental matters , product liability , insurance coverage and personnel and employment disputes .as to such claims and litigation , the company can give no assurance that it will prevail .the company does not believe that any current legal matters will have a material adverse effect on the company 2019s financial position , results of operations or cash flows .13 .retirement plans the company and its subsidiaries have various savings and retirement plans covering substantially all employees .the company maintains a defined contribution plan for the benefit of its eligible u.s .employees .this plan provides for company contributions of up to 5% ( 5 % ) of each participant 2019s total eligible compensation .in addition , the company contributes an amount equal to each participant 2019s pre-tax contribution , if any , up to a maximum of 3% ( 3 % ) of each participant 2019s total eligible compensation .the total expense related to the defined contribution plan for u.s .employees was $ 20.5 million in fiscal 2010 , $ 21.5 million in fiscal 2009 and $ 22.6 million in fiscal 2008 .the company also has various defined benefit pension and other retirement plans for certain non-u.s .employees that are consistent with local statutory requirements and practices .the total expense related to the various defined benefit pension and other retirement plans for certain non-u.s .employees was $ 11.7 million in fiscal 2010 , $ 10.9 million in fiscal 2009 and $ 13.9 million in fiscal 2008 .during fiscal 2009 , the measurement date of the plan 2019s funded status was changed from september 30 to the company 2019s fiscal year end .non-u.s .plan disclosures the company 2019s funding policy for its foreign defined benefit pension plans is consistent with the local requirements of each country .the plans 2019 assets consist primarily of u.s .and non-u.s .equity securities , bonds , property and cash .the benefit obligations and related assets under these plans have been measured at october 30 , 2010 and october 31 , 2009 .analog devices , inc .notes to consolidated financial statements 2014 ( continued ) .
|
$ 101.1 million
| 720 | 258 |
259 |
what was the total reduction to cost of sales from 2011 to 2013?
|
advance auto parts , inc .and subsidiaries notes to the consolidated financial statements december 28 , 2013 , december 29 , 2012 and december 31 , 2011 ( in thousands , except per share data ) in july 2012 , the fasb issued asu no .2012-02 201cintangible-goodwill and other 2013 testing indefinite-lived intangible assets for impairment . 201d asu 2012-02 modifies the requirement to test intangible assets that are not subject to amortization based on events or changes in circumstances that might indicate that the asset is impaired now requiring the test only if it is more likely than not that the asset is impaired .furthermore , asu 2012-02 provides entities the option of performing a qualitative assessment to determine if it is more likely than not that the fair value of an intangible asset is less than the carrying amount as a basis for determining whether it is necessary to perform a quantitative impairment test .asu 2012-02 is effective for fiscal years beginning after september 15 , 2012 and early adoption is permitted .the adoption of asu 2012-02 had no impact on the company 2019s consolidated financial condition , results of operations or cash flows .3 .inventories , net : merchandise inventory the company used the lifo method of accounting for approximately 95% ( 95 % ) of inventories at both december 28 , 2013 and december 29 , 2012 .under lifo , the company 2019s cost of sales reflects the costs of the most recently purchased inventories , while the inventory carrying balance represents the costs for inventories purchased in fiscal 2013 and prior years .the company recorded a reduction to cost of sales of $ 5572 and $ 24087 in fiscal 2013 and fiscal 2012 , respectively .the company 2019s overall costs to acquire inventory for the same or similar products have generally decreased historically as the company has been able to leverage its continued growth , execution of merchandise strategies and realization of supply chain efficiencies .in fiscal 2011 , the company recorded an increase to cost of sales of $ 24708 due to an increase in supply chain costs and inflationary pressures affecting certain product categories .product cores the remaining inventories are comprised of product cores , the non-consumable portion of certain parts and batteries , which are valued under the first-in , first-out ( 201cfifo 201d ) method .product cores are included as part of the company 2019s merchandise costs and are either passed on to the customer or returned to the vendor .because product cores are not subject to frequent cost changes like the company 2019s other merchandise inventory , there is no material difference when applying either the lifo or fifo valuation method .inventory overhead costs purchasing and warehousing costs included in inventory as of december 28 , 2013 and december 29 , 2012 , were $ 161519 and $ 134258 , respectively .inventory balance and inventory reserves inventory balances at the end of fiscal 2013 and 2012 were as follows : december 28 , december 29 .
[['', 'december 282013', 'december 292012'], ['inventories at fifo net', '$ 2424795', '$ 2182419'], ['adjustments to state inventories at lifo', '131762', '126190'], ['inventories at lifo net', '$ 2556557', '$ 2308609']]
inventory quantities are tracked through a perpetual inventory system .the company completes physical inventories and other targeted inventory counts in its store locations to ensure the accuracy of the perpetual inventory quantities of both merchandise and core inventory in these locations .in its distribution centers and pdq aes , the company uses a cycle counting program to ensure the accuracy of the perpetual inventory quantities of both merchandise and product core inventory .reserves for estimated shrink are established based on the results of physical inventories conducted by the company with the assistance of an independent third party in substantially all of the company 2019s stores over the course of the year , other targeted inventory counts in its stores , results from recent cycle counts in its distribution facilities and historical and current loss trends. .
|
the total reduction to cost of sales would be $ 4951
| 1,040 | 259 |
260 |
what is an employees total annual compensation?
|
notes to consolidated financial statements 2014 ( continued ) the following table summarizes the changes in non-vested restricted stock awards for the year ended may 31 , 2009 ( share awards in thousands ) : share awards weighted average grant-date fair value .
[['', 'share awards', 'weighted average grant-date fair value'], ['non-vested at may 31 2007', '278', '$ 37'], ['granted', '400', '38'], ['vested', '-136 ( 136 )', '30'], ['forfeited', '-24 ( 24 )', '40'], ['non-vested at may 31 2008', '518', '39'], ['granted', '430', '43'], ['vested', '-159 ( 159 )', '39'], ['forfeited', '-27 ( 27 )', '41'], ['non-vested at may 31 2009', '762', '42']]
the weighted average grant-date fair value of share awards granted in the years ended may 31 , 2008 and 2007 was $ 38 and $ 45 , respectively .the total fair value of share awards vested during the years ended may 31 , 2009 , 2008 and 2007 was $ 6.2 million , $ 4.1 million and $ 1.7 million , respectively .we recognized compensation expense for restricted stock of $ 9.0 million , $ 5.7 million , and $ 2.7 million in the years ended may 31 , 2009 , 2008 and 2007 .as of may 31 , 2009 , there was $ 23.5 million of total unrecognized compensation cost related to unvested restricted stock awards that is expected to be recognized over a weighted average period of 2.9 years .employee stock purchase plan we have an employee stock purchase plan under which the sale of 2.4 million shares of our common stock has been authorized .employees may designate up to the lesser of $ 25000 or 20% ( 20 % ) of their annual compensation for the purchase of stock .the price for shares purchased under the plan is 85% ( 85 % ) of the market value on the last day of the quarterly purchase period .as of may 31 , 2009 , 0.8 million shares had been issued under this plan , with 1.6 million shares reserved for future issuance .the weighted average grant-date fair value of each designated share purchased under this plan was $ 6 , $ 6 and $ 8 in the years ended may 31 , 2009 , 2008 and 2007 , respectively .these values represent the fair value of the 15% ( 15 % ) discount .note 12 2014segment information general information during fiscal 2009 , we began assessing our operating performance using a new segment structure .we made this change as a result of our june 30 , 2008 acquisition of 51% ( 51 % ) of hsbc merchant services llp in the united kingdom , in addition to anticipated future international expansion .beginning with the quarter ended august 31 , 2008 , the reportable segments are defined as north america merchant services , international merchant services , and money transfer .the following tables reflect these changes and such reportable segments for fiscal years 2009 , 2008 , and 2007. .
|
$ 125000
| 843 | 260 |
261 |
what was the market cap of common stock as of march 28 , 2005?
|
table of contents part ii price range our common stock commenced trading on the nasdaq national market under the symbol 201cmktx 201d on november 5 , 2004 .prior to that date , there was no public market for our common stock .on november 4 , 2004 , the registration statement relating to our initial public offering was declared effective by the sec .the high and low bid information for our common stock , as reported by nasdaq , was as follows : on march 28 , 2005 , the last reported closing price of our common stock on the nasdaq national market was $ 10.26 .holders there were approximately 188 holders of record of our common stock as of march 28 , 2005 .dividend policy we have not declared or paid any cash dividends on our capital stock since our inception .we intend to retain future earnings to finance the operation and expansion of our business and do not anticipate paying any cash dividends in the foreseeable future .in the event we decide to declare dividends on our common stock in the future , such declaration will be subject to the discretion of our board of directors .our board may take into account such matters as general business conditions , our financial results , capital requirements , contractual , legal , and regulatory restrictions on the payment of dividends by us to our stockholders or by our subsidiaries to us and any such other factors as our board may deem relevant .use of proceeds on november 4 , 2004 , the registration statement relating to our initial public offering ( no .333-112718 ) was declared effective .we received net proceeds from the sale of the shares of our common stock in the offering of $ 53.9 million , at an initial public offering price of $ 11.00 per share , after deducting underwriting discounts and commissions and estimated offering expenses .additionally , prior to the closing of the initial public offering , all outstanding shares of convertible preferred stock were converted into 14484493 shares of common stock and 4266310 shares of non-voting common stock .the underwriters for our initial public offering were credit suisse first boston llc , j.p .morgan securities inc. , banc of america securities llc , bear , stearns & co .inc .and ubs securities llc .all of the underwriters are affiliates of some of our broker-dealer clients and affiliates of some our institutional investor clients .in addition , affiliates of all the underwriters are stockholders of ours .except for salaries , and reimbursements for travel expenses and other out-of-pocket costs incurred in the ordinary course of business , none of the proceeds from the offering have been paid by us , directly or indirectly , to any of our directors or officers or any of their associates , or to any persons owning ten percent or more of our outstanding stock or to any of our affiliates .as of december 31 , 2004 , we have not used any of the net proceeds from the initial public offering for product development costs , sales and marketing activities and working capital .we have invested the proceeds from the offering in cash and cash equivalents and short-term marketable securities pending their use for these or other purposes .item 5 .market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities november 5 , 2004 december 31 , 2004 .
[['high', 'low'], ['$ 24.41', '$ 12.75']]
.
|
$ 1928.88
| 786 | 261 |
262 |
did 2015 adjusted ebitda increase more than 2015 actual ebitda?
|
table of contents ( 2 ) includes capitalized lease obligations of $ 3.2 million and $ 0.1 million as of december 31 , 2015 and 2014 , respectively , which are included in other liabilities on the consolidated balance sheet .( 3 ) ebitda is defined as consolidated net income before interest expense , income tax expense , depreciation and amortization .adjusted ebitda , which is a measure defined in our credit agreements , means ebitda adjusted for certain items which are described in the table below .we have included a reconciliation of ebitda and adjusted ebitda in the table below .both ebitda and adjusted ebitda are considered non-gaap financial measures .generally , a non-gaap financial measure is a numerical measure of a company 2019s performance , financial position or cash flows that either excludes or includes amounts that are not normally included or excluded in the most directly comparable measure calculated and presented in accordance with gaap .non-gaap measures used by us may differ from similar measures used by other companies , even when similar terms are used to identify such measures .we believe that ebitda and adjusted ebitda provide helpful information with respect to our operating performance and cash flows including our ability to meet our future debt service , capital expenditures and working capital requirements .adjusted ebitda is also the primary measure used in certain key covenants and definitions contained in the credit agreement governing our senior secured term loan facility ( 201cterm loan 201d ) , including the excess cash flow payment provision , the restricted payment covenant and the net leverage ratio .these covenants and definitions are material components of the term loan as they are used in determining the interest rate applicable to the term loan , our ability to make certain investments , incur additional debt , and make restricted payments , such as dividends and share repurchases , as well as whether we are required to make additional principal prepayments on the term loan beyond the quarterly amortization payments .for further details regarding the term loan , see note 8 ( long-term debt ) to the accompanying consolidated financial statements .the following unaudited table sets forth reconciliations of net income to ebitda and ebitda to adjusted ebitda for the periods presented: .
[['( in millions )', 'years ended december 31 , 2015', 'years ended december 31 , 2014', 'years ended december 31 , 2013', 'years ended december 31 , 2012', 'years ended december 31 , 2011'], ['net income', '$ 403.1', '$ 244.9', '$ 132.8', '$ 119.0', '$ 17.1'], ['depreciation and amortization', '227.4', '207.9', '208.2', '210.2', '204.9'], ['income tax expense', '243.9', '142.8', '62.7', '67.1', '11.2'], ['interest expense net', '159.5', '197.3', '250.1', '307.4', '324.2'], ['ebitda', '1033.9', '792.9', '653.8', '703.7', '557.4'], ['non-cash equity-based compensation', '31.2', '16.4', '8.6', '22.1', '19.5'], ['net loss on extinguishment of long-term debt ( a )', '24.3', '90.7', '64.0', '17.2', '118.9'], ['loss ( income ) from equity investments ( b )', '10.1', '-2.2 ( 2.2 )', '-0.6 ( 0.6 )', '-0.3 ( 0.3 )', '-0.1 ( 0.1 )'], ['acquisition and integration expenses ( c )', '10.2', '2014', '2014', '2014', '2014'], ['gain on remeasurement of equity investment ( d )', '-98.1 ( 98.1 )', '2014', '2014', '2014', '2014'], ['other adjustments ( e )', '6.9', '9.2', '82.7', '23.9', '21.6'], ['adjusted ebitda ( f )', '$ 1018.5', '$ 907.0', '$ 808.5', '$ 766.6', '$ 717.3']]
net loss on extinguishment of long-term debt ( a ) 24.3 90.7 64.0 17.2 118.9 loss ( income ) from equity investments ( b ) 10.1 ( 2.2 ) ( 0.6 ) ( 0.3 ) ( 0.1 ) acquisition and integration expenses ( c ) 10.2 2014 2014 2014 2014 gain on remeasurement of equity investment ( d ) ( 98.1 ) 2014 2014 2014 2014 other adjustments ( e ) 6.9 9.2 82.7 23.9 21.6 adjusted ebitda ( f ) $ 1018.5 $ 907.0 $ 808.5 $ 766.6 $ 717.3 ( a ) during the years ended december 31 , 2015 , 2014 , 2013 , 2012 , and 2011 , we recorded net losses on extinguishments of long-term debt .the losses represented the difference between the amount paid upon extinguishment , including call premiums and expenses paid to the debt holders and agents , and the net carrying amount of the extinguished debt , adjusted for a portion of the unamortized deferred financing costs .( b ) represents our share of net income/loss from our equity investments .our 35% ( 35 % ) share of kelway 2019s net loss includes our 35% ( 35 % ) share of an expense related to certain equity awards granted by one of the sellers to kelway coworkers in july 2015 prior to the acquisition .( c ) primarily includes expenses related to the acquisition of kelway .( d ) represents the gain resulting from the remeasurement of our previously held 35% ( 35 % ) equity investment to fair value upon the completion of the acquisition of kelway. .
|
no
| 1,561 | 262 |
263 |
what is the statistical interval for 2017's interest income using 2016's interest income as a midpoint?
|
item 7a .quantitative and qualitative disclosures about market risk ( amounts in millions ) in the normal course of business , we are exposed to market risks related to interest rates , foreign currency rates and certain balance sheet items .from time to time , we use derivative instruments , pursuant to established guidelines and policies , to manage some portion of these risks .derivative instruments utilized in our hedging activities are viewed as risk management tools and are not used for trading or speculative purposes .interest rates our exposure to market risk for changes in interest rates relates primarily to the fair market value and cash flows of our debt obligations .the majority of our debt ( approximately 93% ( 93 % ) and 89% ( 89 % ) as of december 31 , 2016 and 2015 , respectively ) bears interest at fixed rates .we do have debt with variable interest rates , but a 10% ( 10 % ) increase or decrease in interest rates would not be material to our interest expense or cash flows .the fair market value of our debt is sensitive to changes in interest rates , and the impact of a 10% ( 10 % ) change in interest rates is summarized below .increase/ ( decrease ) in fair market value as of december 31 , 10% ( 10 % ) increase in interest rates 10% ( 10 % ) decrease in interest rates .
[['as of december 31,', 'increase/ ( decrease ) in fair market value 10% ( 10 % ) increasein interest rates', 'increase/ ( decrease ) in fair market value 10% ( 10 % ) decreasein interest rates'], ['2016', '$ -26.3 ( 26.3 )', '$ 26.9'], ['2015', '-33.7 ( 33.7 )', '34.7']]
we have used interest rate swaps for risk management purposes to manage our exposure to changes in interest rates .we do not have any interest rate swaps outstanding as of december 31 , 2016 .we had $ 1100.6 of cash , cash equivalents and marketable securities as of december 31 , 2016 that we generally invest in conservative , short-term bank deposits or securities .the interest income generated from these investments is subject to both domestic and foreign interest rate movements .during 2016 and 2015 , we had interest income of $ 20.1 and $ 22.8 , respectively .based on our 2016 results , a 100 basis-point increase or decrease in interest rates would affect our interest income by approximately $ 11.0 , assuming that all cash , cash equivalents and marketable securities are impacted in the same manner and balances remain constant from year-end 2016 levels .foreign currency rates we are subject to translation and transaction risks related to changes in foreign currency exchange rates .since we report revenues and expenses in u.s .dollars , changes in exchange rates may either positively or negatively affect our consolidated revenues and expenses ( as expressed in u.s .dollars ) from foreign operations .the foreign currencies that most impacted our results during 2016 included the british pound sterling and , to a lesser extent , the argentine peso , brazilian real and japanese yen .based on 2016 exchange rates and operating results , if the u.s .dollar were to strengthen or weaken by 10% ( 10 % ) , we currently estimate operating income would decrease or increase approximately 4% ( 4 % ) , assuming that all currencies are impacted in the same manner and our international revenue and expenses remain constant at 2016 levels .the functional currency of our foreign operations is generally their respective local currency .assets and liabilities are translated at the exchange rates in effect at the balance sheet date , and revenues and expenses are translated at the average exchange rates during the period presented .the resulting translation adjustments are recorded as a component of accumulated other comprehensive loss , net of tax , in the stockholders 2019 equity section of our consolidated balance sheets .our foreign subsidiaries generally collect revenues and pay expenses in their functional currency , mitigating transaction risk .however , certain subsidiaries may enter into transactions in currencies other than their functional currency .assets and liabilities denominated in currencies other than the functional currency are susceptible to movements in foreign currency until final settlement .currency transaction gains or losses primarily arising from transactions in currencies other than the functional currency are included in office and general expenses .we regularly review our foreign exchange exposures that may have a material impact on our business and from time to time use foreign currency forward exchange contracts or other derivative financial instruments to hedge the effects of potential adverse fluctuations in foreign currency exchange rates arising from these exposures .we do not enter into foreign exchange contracts or other derivatives for speculative purposes. .
|
9.1 < interest income < 31.1 or the interest income has an interval between 9.1 and 31.1
| 1,086 | 263 |
264 |
was the average exercise price ( dollars per barrel ) of put options expiring in 2009 greater than that of call options?
|
underlying physical transaction occurs .we have not qualified commodity derivative instruments used in our osm or rm&t segments for hedge accounting .as a result , we recognize in net income all changes in the fair value of derivative instruments used in those operations .open commodity derivative positions as of december 31 , 2008 and sensitivity analysis at december 31 , 2008 , our e&p segment held open derivative contracts to mitigate the price risk on natural gas held in storage or purchased to be marketed with our own natural gas production in amounts that were in line with normal levels of activity .at december 31 , 2008 , we had no significant open derivative contracts related to our future sales of liquid hydrocarbons and natural gas and therefore remained substantially exposed to market prices of these commodities .the osm segment holds crude oil options which were purchased by western for a three year period ( january 2007 to december 2009 ) .the premiums for the purchased put options had been partially offset through the sale of call options for the same three-year period , resulting in a net premium liability .payment of the net premium liability is deferred until the settlement of the option contracts .as of december 31 , 2008 , the following put and call options were outstanding: .
[['option expiration date', '2009'], ['option contract volumes ( barrels per day ) :', ''], ['put options purchased', '20000'], ['call options sold', '15000'], ['average exercise price ( dollars per barrel ) :', ''], ['put options', '$ 50.50'], ['call options', '$ 90.50']]
in the first quarter of 2009 , we sold derivative instruments at an average exercise price of $ 50.50 which effectively offset the open put options for the remainder of 2009 .at december 31 , 2008 , the number of open derivative contracts held by our rm&t segment was lower than in previous periods .starting in the second quarter of 2008 , we decreased our use of derivatives to mitigate crude oil price risk between the time that domestic spot crude oil purchases are priced and when they are actually refined into salable petroleum products .instead , we are addressing this price risk through other means , including changes in contractual terms and crude oil acquisition practices .additionally , in previous periods , certain contracts in our rm&t segment for the purchase or sale of commodities were not qualified or designated as normal purchase or normal sales under generally accepted accounting principles and therefore were accounted for as derivative instruments .during the second quarter of 2008 , as we decreased our use of derivatives , we began to designate such contracts for the normal purchase and normal sale exclusion. .
|
no
| 612 | 264 |
265 |
in december 2016 the nclc issued senior unsecured notes due december 2021 , what is the payment they will receive on december 2021?
|
new term loan a facility , with the remaining unpaid principal amount of loans under the new term loan a facility due and payable in full at maturity on june 6 , 2021 .principal amounts outstanding under the new revolving loan facility are due and payable in full at maturity on june 6 , 2021 , subject to earlier repayment pursuant to the springing maturity date described above .in addition to paying interest on outstanding principal under the borrowings , we are obligated to pay a quarterly commitment fee at a rate determined by reference to a total leverage ratio , with a maximum commitment fee of 40% ( 40 % ) of the applicable margin for eurocurrency loans .in july 2016 , breakaway four , ltd. , as borrower , and nclc , as guarantor , entered into a supplemental agreement , which amended the breakaway four loan to , among other things , increase the aggregate principal amount of commitments under the multi-draw term loan credit facility from 20ac590.5 million to 20ac729.9 million .in june 2016 , we took delivery of seven seas explorer .to finance the payment due upon delivery , we had export credit financing in place for 80% ( 80 % ) of the contract price .the associated $ 373.6 million term loan bears interest at 3.43% ( 3.43 % ) with a maturity date of june 30 , 2028 .principal and interest payments shall be paid semiannually .in december 2016 , nclc issued $ 700.0 million aggregate principal amount of 4.750% ( 4.750 % ) senior unsecured notes due december 2021 ( the 201cnotes 201d ) in a private offering ( the 201coffering 201d ) at par .nclc used the net proceeds from the offering , after deducting the initial purchasers 2019 discount and estimated fees and expenses , together with cash on hand , to purchase its outstanding 5.25% ( 5.25 % ) senior notes due 2019 having an aggregate outstanding principal amount of $ 680 million .the redemption of the 5.25% ( 5.25 % ) senior notes due 2019 was completed in january 2017 .nclc will pay interest on the notes at 4.750% ( 4.750 % ) per annum , semiannually on june 15 and december 15 of each year , commencing on june 15 , 2017 , to holders of record at the close of business on the immediately preceding june 1 and december 1 , respectively .nclc may redeem the notes , in whole or part , at any time prior to december 15 , 2018 , at a price equal to 100% ( 100 % ) of the principal amount of the notes redeemed plus accrued and unpaid interest to , but not including , the redemption date and a 201cmake-whole premium . 201d nclc may redeem the notes , in whole or in part , on or after december 15 , 2018 , at the redemption prices set forth in the indenture governing the notes .at any time ( which may be more than once ) on or prior to december 15 , 2018 , nclc may choose to redeem up to 40% ( 40 % ) of the aggregate principal amount of the notes at a redemption price equal to 104.750% ( 104.750 % ) of the face amount thereof with an amount equal to the net proceeds of one or more equity offerings , so long as at least 60% ( 60 % ) of the aggregate principal amount of the notes issued remains outstanding following such redemption .the indenture governing the notes contains covenants that limit nclc 2019s ability ( and its restricted subsidiaries 2019 ability ) to , among other things : ( i ) incur or guarantee additional indebtedness or issue certain preferred shares ; ( ii ) pay dividends and make certain other restricted payments ; ( iii ) create restrictions on the payment of dividends or other distributions to nclc from its restricted subsidiaries ; ( iv ) create liens on certain assets to secure debt ; ( v ) make certain investments ; ( vi ) engage in transactions with affiliates ; ( vii ) engage in sales of assets and subsidiary stock ; and ( viii ) transfer all or substantially all of its assets or enter into merger or consolidation transactions .the indenture governing the notes also provides for events of default , which , if any of them occurs , would permit or require the principal , premium ( if any ) , interest and other monetary obligations on all of the then-outstanding notes to become due and payable immediately .interest expense , net for the year ended december 31 , 2016 was $ 276.9 million which included $ 34.7 million of amortization of deferred financing fees and a $ 27.7 million loss on extinguishment of debt .interest expense , net for the year ended december 31 , 2015 was $ 221.9 million which included $ 36.7 million of amortization of deferred financing fees and a $ 12.7 million loss on extinguishment of debt .interest expense , net for the year ended december 31 , 2014 was $ 151.8 million which included $ 32.3 million of amortization of deferred financing fees and $ 15.4 million of expenses related to financing transactions in connection with the acquisition of prestige .certain of our debt agreements contain covenants that , among other things , require us to maintain a minimum level of liquidity , as well as limit our net funded debt-to-capital ratio , maintain certain other ratios and restrict our ability to pay dividends .substantially all of our ships and other property and equipment are pledged as collateral for certain of our debt .we believe we were in compliance with these covenants as of december 31 , 2016 .the following are scheduled principal repayments on long-term debt including capital lease obligations as of december 31 , 2016 for each of the next five years ( in thousands ) : .
[['year', 'amount'], ['2017', '$ 560193'], ['2018', '554846'], ['2019', '561687'], ['2020', '1153733'], ['2021', '2193823'], ['thereafter', '1490322'], ['total', '$ 6514604']]
we had an accrued interest liability of $ 32.5 million and $ 34.2 million as of december 31 , 2016 and 2015 , respectively. .
|
$ 733.35 million
| 1,586 | 265 |
266 |
for net cash provided by operating activities in 2013 , how much was lost due to the decrease in net income?
|
management 2019s discussion and analysis of financial condition and results of operations 2013 ( continued ) ( amounts in millions , except per share amounts ) corporate and other expenses decreased slightly during 2012 by $ 4.7 to $ 137.3 compared to 2011 , primarily due to lower office and general expenses , partially offset by an increase in temporary help to support our information-technology system-upgrade initiatives .liquidity and capital resources cash flow overview the following tables summarize key financial data relating to our liquidity , capital resources and uses of capital. .
[['cash flow data', 'years ended december 31 , 2013', 'years ended december 31 , 2012', 'years ended december 31 , 2011'], ['net income adjusted to reconcile net income to net cashprovided by operating activities1', '$ 598.4', '$ 697.2', '$ 735.7'], ['net cash used in working capital b2', '-9.6 ( 9.6 )', '-293.2 ( 293.2 )', '-359.4 ( 359.4 )'], ['changes in other non-current assets and liabilities using cash', '4.1', '-46.8 ( 46.8 )', '-102.8 ( 102.8 )'], ['net cash provided by operating activities', '$ 592.9', '$ 357.2', '$ 273.5'], ['net cash used in investing activities', '-224.5 ( 224.5 )', '-210.2 ( 210.2 )', '-58.8 ( 58.8 )'], ['net cash ( used in ) provided by financing activities', '-1212.3 ( 1212.3 )', '131.3', '-541.0 ( 541.0 )']]
1 reflects net income adjusted primarily for depreciation and amortization of fixed assets and intangible assets , amortization of restricted stock and other non-cash compensation , non-cash loss related to early extinguishment of debt , and deferred income taxes .2 reflects changes in accounts receivable , expenditures billable to clients , other current assets , accounts payable and accrued liabilities .operating activities net cash provided by operating activities during 2013 was $ 592.9 , which was an increase of $ 235.7 as compared to 2012 , primarily as a result of an improvement in working capital usage of $ 283.6 , offset by a decrease in net income .due to the seasonality of our business , we typically generate cash from working capital in the second half of a year and use cash from working capital in the first half of a year , with the largest impacts in the first and fourth quarters .the improvement in working capital in 2013 was impacted by our media businesses and an ongoing focus on working capital management at our agencies .net cash provided by operating activities during 2012 was $ 357.2 , which was an increase of $ 83.7 as compared to 2011 , primarily as a result of a decrease in working capital usage of $ 66.2 .the net working capital usage in 2012 was primarily impacted by our media businesses .the timing of media buying on behalf of our clients affects our working capital and operating cash flow .in most of our businesses , our agencies enter into commitments to pay production and media costs on behalf of clients .to the extent possible we pay production and media charges after we have received funds from our clients .the amounts involved substantially exceed our revenues , and primarily affect the level of accounts receivable , expenditures billable to clients , accounts payable and accrued liabilities .our assets include both cash received and accounts receivable from clients for these pass-through arrangements , while our liabilities include amounts owed on behalf of clients to media and production suppliers .our accrued liabilities are also affected by the timing of certain other payments .for example , while annual cash incentive awards are accrued throughout the year , they are generally paid during the first quarter of the subsequent year .investing activities net cash used in investing activities during 2013 primarily relates to payments for capital expenditures and acquisitions .capital expenditures of $ 173.0 relate primarily to computer hardware and software and leasehold improvements .we made payments of $ 61.5 related to acquisitions completed during 2013. .
|
$ 47.9 million
| 1,011 | 266 |
267 |
what would be the total amount of long-term debt if they were to include fair value of debt step-up?
|
contractual obligations we summarize our enforceable and legally binding contractual obligations at september 30 , 2018 , and the effect these obligations are expected to have on our liquidity and cash flow in future periods in the following table .certain amounts in this table are based on management fffds estimates and assumptions about these obligations , including their duration , the possibility of renewal , anticipated actions by third parties and other factors , including estimated minimum pension plan contributions and estimated benefit payments related to postretirement obligations , supplemental retirement plans and deferred compensation plans .because these estimates and assumptions are subjective , the enforceable and legally binding obligations we actually pay in future periods may vary from those presented in the table. .
[['( in millions )', 'payments due by period total', 'payments due by period fiscal 2019', 'payments due by period fiscal 2020and 2021', 'payments due by period fiscal 2022and 2023', 'payments due by period thereafter'], ['long-term debt including current portionexcluding capital lease obligations ( 1 )', '$ 6039.0', '$ 726.6', '$ 824.8', '$ 1351.0', '$ 3136.6'], ['operating lease obligations ( 2 )', '615.8', '132.1', '199.9', '118.4', '165.4'], ['capital lease obligations ( 3 )', '152.5', '5.0', '6.7', '2.7', '138.1'], ['purchase obligations and other ( 4 ) ( 5 ) ( 6 )', '2210.5', '1676.6', '224.1', '114.9', '194.9'], ['total', '$ 9017.8', '$ 2540.3', '$ 1255.5', '$ 1587.0', '$ 3635.0']]
( 1 ) includes only principal payments owed on our debt assuming that all of our long-term debt will be held to maturity , excluding scheduled payments .we have excluded $ 205.2 million of fair value of debt step-up , deferred financing costs and unamortized bond discounts from the table to arrive at actual debt obligations .see fffdnote 13 .debt fffd fffd of the notes to consolidated financial statements for information on the interest rates that apply to our various debt instruments .( 2 ) see fffdnote 14 .operating leases fffd of the notes to consolidated financial statements for additional information .( 3 ) the fair value step-up of $ 18.5 million is excluded .see fffdnote 13 .debt fffd fffd capital lease and other indebtednesstt fffd of the notes to consolidated financial statements for additional information .( 4 ) purchase obligations include agreements to purchase goods or services that are enforceable and legally binding and that specify all significant terms , including : fixed or minimum quantities to be purchased ; fixed , minimum or variable price provision ; and the approximate timing of the transaction .purchase obligations exclude agreements that are cancelable without penalty .( 5 ) we have included in the table future estimated minimum pension plan contributions and estimated benefit payments related to postretirement obligations , supplemental retirement plans and deferred compensation plans .our estimates are based on factors , such as discount rates and expected returns on plan assets .future contributions are subject to changes in our underfunded status based on factors such as investment performance , discount rates , returns on plan assets and changes in legislation .it is possible that our assumptions may change , actual market performance may vary or we may decide to contribute different amounts .we have excluded $ 247.8 million of multiemployer pension plan withdrawal liabilities recorded as of september 30 , 2018 due to lack of definite payout terms for certain of the obligations .see fffdnote 4 .retirement plans fffd multiemployer plans fffd of the notes to consolidated financial statements for additional information .( 6 ) we have not included the following items in the table : fffd an item labeled fffdother long-term liabilities fffd reflected on our consolidated balance sheet because these liabilities do not have a definite pay-out scheme .fffd $ 158.4 million from the line item fffdpurchase obligations and other fffd for certain provisions of the financial accounting standards board fffds ( fffdfasb fffd ) accounting standards codification ( fffdasc fffd ) 740 , fffdincome taxes fffd associated with liabilities for uncertain tax positions due to the uncertainty as to the amount and timing of payment , if any .in addition to the enforceable and legally binding obligations presented in the table above , we have other obligations for goods and services and raw materials entered into in the normal course of business .these contracts , however , are subject to change based on our business decisions .expenditures for environmental compliance see item 1 .fffdbusiness fffd fffd governmental regulation fffd environmental and other matters fffd , fffdbusiness fffd fffd governmental regulation fffd cercla and other remediation costs fffd , and fffd fffdbusiness fffd fffd governmental regulation fffd climate change fffd for a discussion of our expenditures for environmental compliance. .
|
$ 12283.2 million
| 1,185 | 267 |
268 |
about how many towers were leased or subleased in 2004?
|
we have experienced disputes with customers and suppliers 2014such disputes may lead to increased tensions , damaged relationships or litigation which may result in the loss of a key customer or supplier .we have experienced certain conflicts or disputes with some of our customers and service providers .most of these disputes relate to the interpretation of terms in our contracts .while we seek to resolve such conflicts amicably and have generally resolved customer and supplier disputes on commercially reasonable terms , such disputes may lead to increased tensions and damaged relationships between ourselves and these entities , some of whom are key customers or suppliers of ours .in addition , if we are unable to resolve these differences amicably , we may be forced to litigate these disputes in order to enforce or defend our rights .there can be no assurances as to the outcome of these disputes .damaged relationships or litigation with our key customers or suppliers may lead to decreased revenues ( including as a result of losing a customer ) or increased costs , which could have a material adverse effect on us .our operations in australia expose us to changes in foreign currency exchange rates 2014we may suffer losses as a result of changes in such currency exchange rates .we conduct business in the u.s .and australia , which exposes us to fluctuations in foreign currency exchange rates .for the year ended december 31 , 2004 , approximately 7.5% ( 7.5 % ) of our consolidated revenues originated outside the u.s. , all of which were denominated in currencies other than u.s .dollars , principally australian dollars .we have not historically engaged in significant hedging activities relating to our non-u.s .dollar operations , and we may suffer future losses as a result of changes in currency exchange rates .internet access to reports we maintain an internet website at www.crowncastle.com .our annual reports on form 10-k , quarterly reports on form 10-q , and current reports on form 8-k ( and any amendments to those reports filed or furnished pursuant to section 13 ( a ) or 15 ( d ) of the securities exchange act of 1934 ) are made available , free of charge , through the investor relations section of our internet website at http://investor.crowncastle.com/edgar.cfm as soon as reasonably practicable after we electronically file such material with , or furnish it to , the securities and exchange commission .in addition , our corporate governance guidelines , business practices and ethics policy and the charters of our audit committee , compensation committee and nominating & corporate governance committees are available through the investor relations section of our internet website at http://investor.crowncastle.com/edgar.cfm , and such information is also available in print to any shareholder who requests it .item 2 .properties our principal corporate offices are located in houston , texas ; canonsburg , pennsylvania ; and sydney , australia .location property interest ( sq .ft. ) use .
[['location', 'property interest', 'size ( sq . ft. )', 'use'], ['canonsburg pa', 'owned', '124000', 'corporate office'], ['houston tx', 'leased', '24300', 'corporate office'], ['sydney australia', 'leased', '15527', 'corporate office']]
in the u.s. , we also lease and maintain five additional regional offices ( called 201carea offices 201d ) located in ( 1 ) albany , new york , ( 2 ) alpharetta , georgia , ( 3 ) charlotte , north carolina , ( 4 ) louisville , kentucky and ( 5 ) phoenix , arizona .the principal responsibilities of these offices are to manage the leasing of tower space on a local basis , maintain the towers already located in the region and service our customers in the area .as of december 31 , 2004 , 8816 of the sites on which our u.s .towers are located , or approximately 83% ( 83 % ) of our u.s .portfolio , were leased , subleased or licensed , while 1796 or approximately 17% ( 17 % ) were owned in fee or through .
|
7317 towers were leased or subleased in 2004
| 925 | 268 |
269 |
in 2004 , did retail financial services have a greater roe than card services?
|
jpmorgan chase & co ./ 2004 annual report 29 firms were aligned to provide consistency across the business segments .in addition , expenses related to certain corporate functions , technology and operations ceased to be allocated to the business segments and are retained in corporate .these retained expenses include parent company costs that would not be incurred if the segments were stand-alone businesses ; adjustments to align certain corporate staff , technology and operations allocations with market prices ; and other one-time items not aligned with the business segments .capital allocation each business segment is allocated capital by taking into consideration stand- alone peer comparisons , economic risk measures and regulatory capital requirements .the amount of capital assigned to each business is referred to as equity .effective with the third quarter of 2004 , new methodologies were implemented to calculate the amount of capital allocated to each segment .as part of the new methodology , goodwill , as well as the associated capital , is allocated solely to corporate .although u.s .gaap requires the allocation of goodwill to the business segments for impairment testing ( see note 15 on page 109 of this annual report ) , the firm has elected not to include goodwill or the related capital in each of the business segments for management reporting purposes .see the capital management section on page 50 of this annual report for a discussion of the equity framework .credit reimbursement tss reimburses the ib for credit portfolio exposures the ib manages on behalf of clients the segments share .at the time of the merger , the reimbursement methodology was revised to be based on pre-tax earnings , net of the cost of capital related to those exposures .prior to the merger , the credit reimburse- ment was based on pre-tax earnings , plus the allocated capital associated with the shared clients .tax-equivalent adjustments segment results reflect revenues on a tax-equivalent basis for segment reporting purposes .refer to page 25 of this annual report for additional details .description of business segment reporting methodology results of the business segments are intended to reflect each segment as if it were essentially a stand-alone business .the management reporting process that derives these results allocates income and expense using market-based methodologies .at the time of the merger , several of the allocation method- ologies were revised , as noted below .the changes became effective july 1 , 2004 .as prior periods have not been revised to reflect these new methodologies , they are not comparable to the presentation of periods begin- ning with the third quarter of 2004 .further , the firm intends to continue to assess the assumptions , methodologies and reporting reclassifications used for segment reporting , and it is anticipated that further refinements may be implemented in future periods .revenue sharing when business segments join efforts to sell products and services to the firm 2019s clients , the participating business segments agree to share revenues from those transactions .these revenue sharing agreements were revised on the merger date to provide consistency across the lines of businesses .funds transfer pricing funds transfer pricing ( 201cftp 201d ) is used to allocate interest income and interest expense to each line of business and also serves to transfer interest rate risk to corporate .while business segments may periodically retain interest rate exposures related to customer pricing or other business-specific risks , the bal- ance of the firm 2019s overall interest rate risk exposure is included and managed in corporate .in the third quarter of 2004 , ftp was revised to conform the policies of the combined firms .expense allocation where business segments use services provided by support units within the firm , the costs of those support units are allocated to the business segments .those expenses are allocated based on their actual cost , or the lower of actual cost or market cost , as well as upon usage of the services provided .effective with the third quarter of 2004 , the cost allocation methodologies of the heritage segment results 2013 operating basis ( a ) ( b ) ( table continued from previous page ) year ended december 31 , operating earnings return on common equity 2013 goodwill ( c ) .
[['year ended december 31 , ( in millions except ratios )', 'year ended december 31 , 2004', 'year ended december 31 , 2003', 'year ended december 31 , change', '2004', '2003'], ['investment bank', '$ 2948', '$ 2805', '5% ( 5 % )', '17% ( 17 % )', '15% ( 15 % )'], ['retail financial services', '2199', '1547', '42', '24', '37'], ['card services', '1274', '683', '87', '17', '20'], ['commercial banking', '608', '307', '98', '29', '29'], ['treasury & securities services', '440', '422', '4', '17', '15'], ['asset & wealth management', '681', '287', '137', '17', '5'], ['corporate', '61', '668', '-91 ( 91 )', 'nm', 'nm'], ['total', '$ 8211', '$ 6719', '22% ( 22 % )', '16% ( 16 % )', '19% ( 19 % )']]
.
|
yes
| 1,186 | 269 |
270 |
did freight revenue in the agricultural group increase at a faster pace in 2012 than in the automotive business?
|
notes to the consolidated financial statements union pacific corporation and subsidiary companies for purposes of this report , unless the context otherwise requires , all references herein to the 201ccorporation 201d , 201cupc 201d , 201cwe 201d , 201cus 201d , and 201cour 201d mean union pacific corporation and its subsidiaries , including union pacific railroad company , which will be separately referred to herein as 201cuprr 201d or the 201crailroad 201d .1 .nature of operations operations and segmentation 2013 we are a class i railroad operating in the u.s .our network includes 31868 route miles , linking pacific coast and gulf coast ports with the midwest and eastern u.s .gateways and providing several corridors to key mexican gateways .we own 26020 miles and operate on the remainder pursuant to trackage rights or leases .we serve the western two-thirds of the country and maintain coordinated schedules with other rail carriers for the handling of freight to and from the atlantic coast , the pacific coast , the southeast , the southwest , canada , and mexico .export and import traffic is moved through gulf coast and pacific coast ports and across the mexican and canadian borders .the railroad , along with its subsidiaries and rail affiliates , is our one reportable operating segment .although we provide and review revenue by commodity group , we analyze the net financial results of the railroad as one segment due to the integrated nature of our rail network .the following table provides freight revenue by commodity group : millions 2012 2011 2010 .
[['millions', '2012', '2011', '2010'], ['agricultural', '$ 3280', '$ 3324', '$ 3018'], ['automotive', '1807', '1510', '1271'], ['chemicals', '3238', '2815', '2425'], ['coal', '3912', '4084', '3489'], ['industrial products', '3494', '3166', '2639'], ['intermodal', '3955', '3609', '3227'], ['total freight revenues', '$ 19686', '$ 18508', '$ 16069'], ['other revenues', '1240', '1049', '896'], ['total operatingrevenues', '$ 20926', '$ 19557', '$ 16965']]
although our revenues are principally derived from customers domiciled in the u.s. , the ultimate points of origination or destination for some products transported by us are outside the u.s .each of our commodity groups includes revenue from shipments to and from mexico .included in the above table are revenues from our mexico business which amounted to $ 1.9 billion in 2012 , $ 1.8 billion in 2011 , and $ 1.6 billion in 2010 .basis of presentation 2013 the consolidated financial statements are presented in accordance with accounting principles generally accepted in the u.s .( gaap ) as codified in the financial accounting standards board ( fasb ) accounting standards codification ( asc ) .2 .significant accounting policies principles of consolidation 2013 the consolidated financial statements include the accounts of union pacific corporation and all of its subsidiaries .investments in affiliated companies ( 20% ( 20 % ) to 50% ( 50 % ) owned ) are accounted for using the equity method of accounting .all intercompany transactions are eliminated .we currently have no less than majority-owned investments that require consolidation under variable interest entity requirements .cash and cash equivalents 2013 cash equivalents consist of investments with original maturities of three months or less .accounts receivable 2013 accounts receivable includes receivables reduced by an allowance for doubtful accounts .the allowance is based upon historical losses , credit worthiness of customers , and current economic conditions .receivables not expected to be collected in one year and the associated allowances are classified as other assets in our consolidated statements of financial position. .
|
no
| 986 | 270 |
271 |
was the 2012 ending balance under the receivables securitization facility sufficient to fund the 2013 payments due for operating leases?
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credit rating fall below investment grade , the value of the outstanding undivided interest held by investors would be reduced , and , in certain cases , the investors would have the right to discontinue the facility .the railroad collected approximately $ 20.1 billion and $ 18.8 billion of receivables during the years ended december 31 , 2012 and 2011 , respectively .upri used certain of these proceeds to purchase new receivables under the facility .the costs of the receivables securitization facility include interest , which will vary based on prevailing commercial paper rates , program fees paid to banks , commercial paper issuing costs , and fees for unused commitment availability .the costs of the receivables securitization facility are included in interest expense and were $ 3 million , $ 4 million and $ 6 million for 2012 , 2011 and 2010 , respectively .the investors have no recourse to the railroad 2019s other assets , except for customary warranty and indemnity claims .creditors of the railroad do not have recourse to the assets of upri .in july 2012 , the receivables securitization facility was renewed for an additional 364-day period at comparable terms and conditions .subsequent event 2013 on january 2 , 2013 , we transferred an additional $ 300 million in undivided interest to investors under the receivables securitization facility , increasing the value of the outstanding undivided interest held by investors from $ 100 million to $ 400 million .contractual obligations and commercial commitments as described in the notes to the consolidated financial statements and as referenced in the tables below , we have contractual obligations and commercial commitments that may affect our financial condition .based on our assessment of the underlying provisions and circumstances of our contractual obligations and commercial commitments , including material sources of off-balance sheet and structured finance arrangements , other than the risks that we and other similarly situated companies face with respect to the condition of the capital markets ( as described in item 1a of part ii of this report ) , there is no known trend , demand , commitment , event , or uncertainty that is reasonably likely to occur that would have a material adverse effect on our consolidated results of operations , financial condition , or liquidity .in addition , our commercial obligations , financings , and commitments are customary transactions that are similar to those of other comparable corporations , particularly within the transportation industry .the following tables identify material obligations and commitments as of december 31 , 2012 : payments due by december 31 , contractual obligations after millions total 2013 2014 2015 2016 2017 2017 other .
[['contractual obligationsmillions', 'total', 'payments due by december 31 2013', 'payments due by december 31 2014', 'payments due by december 31 2015', 'payments due by december 31 2016', 'payments due by december 31 2017', 'payments due by december 31 after2017', 'payments due by december 31 other'], ['debt [a]', '$ 12637', '$ 507', '$ 904', '$ 632', '$ 769', '$ 900', '$ 8925', '$ -'], ['operating leases [b]', '4241', '525', '466', '410', '375', '339', '2126', '-'], ['capital lease obligations [c]', '2441', '282', '265', '253', '232', '243', '1166', '-'], ['purchase obligations [d]', '5877', '3004', '1238', '372', '334', '213', '684', '32'], ['other post retirement benefits [e]', '452', '43', '44', '45', '45', '46', '229', '-'], ['income tax contingencies [f]', '115', '-', '-', '-', '-', '-', '-', '115'], ['total contractualobligations', '$ 25763', '$ 4361', '$ 2917', '$ 1712', '$ 1755', '$ 1741', '$ 13130', '$ 147']]
[a] excludes capital lease obligations of $ 1848 million and unamortized discount of $ ( 365 ) million .includes an interest component of $ 5123 million .[b] includes leases for locomotives , freight cars , other equipment , and real estate .[c] represents total obligations , including interest component of $ 593 million .[d] purchase obligations include locomotive maintenance contracts ; purchase commitments for fuel purchases , locomotives , ties , ballast , and rail ; and agreements to purchase other goods and services .for amounts where we cannot reasonably estimate the year of settlement , they are reflected in the other column .[e] includes estimated other post retirement , medical , and life insurance payments , payments made under the unfunded pension plan for the next ten years .[f] future cash flows for income tax contingencies reflect the recorded liabilities and assets for unrecognized tax benefits , including interest and penalties , as of december 31 , 2012 .for amounts where the year of settlement is uncertain , they are reflected in the other column. .
|
no
| 1,286 | 271 |
272 |
assuming the same level of cash from financing activities in 2009 as during the year ended march 31 , 2008 , would this be sufficient to cover the project capital expenditures for fiscal 2009?
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97% ( 97 % ) of its carrying value .the columbia fund is being liquidated with distributions to us occurring and expected to be fully liquidated during calendar 2008 .since december 2007 , we have received disbursements of approximately $ 20.7 million from the columbia fund .our operating activities during the year ended march 31 , 2008 used cash of $ 28.9 million as compared to $ 19.8 million during the same period in the prior year .our fiscal 2008 net loss of $ 40.9 million was the primary cause of our cash use from operations , attributed to increased investments in our global distribution as we continue to drive initiatives to increase recovery awareness as well as our investments in research and development to broaden our circulatory care product portfolio .in addition , our inventories used cash of $ 11.1 million during fiscal 2008 , reflecting our inventory build-up to support anticipated increases in global demand for our products and our accounts receivable also increased as a result of higher sales volume resulting in a use of cash of $ 2.8 million in fiscal 2008 .these decreases in cash were partially offset by an increase in accounts payable and accrued expenses of $ 5.6 million , non-cash adjustments of $ 5.4 million related to stock-based compensation expense , $ 6.1 million of depreciation and amortization and $ 5.0 million for the change in fair value of worldheart note receivable and warrant .our investing activities during the year ended march 31 , 2008 used cash of $ 40.9 million as compared to cash provided by investing activities of $ 15.1 million during the year ended march 31 , 2007 .cash used by investment activities for fiscal 2008 consisted primarily of $ 49.3 million for the recharacterization of the columbia fund to short-term marketable securities , $ 17.1 million for the purchase of short-term marketable securities , $ 3.8 million related to expenditures for property and equipment and $ 5.0 million for note receivable advanced to worldheart .these amounts were offset by $ 34.5 million of proceeds from short-term marketable securities .in june 2008 , we received 510 ( k ) clearance of our impella 2.5 , triggering an obligation to pay $ 5.6 million of contingent payments in accordance with the may 2005 acquisition of impella .these contingent payments may be made , at our option , with cash , or stock or by a combination of cash or stock under circumstances described in the purchase agreement .it is our intent to satisfy this contingent payment through the issuance of shares of our common stock .our financing activities during the year ended march 31 , 2008 provided cash of $ 2.1 million as compared to cash provided by financing activities of $ 66.6 million during the same period in the prior year .cash provided by financing activities for fiscal 2008 is comprised primarily of $ 2.8 million attributable to the exercise of stock options , $ 0.9 million related to the proceeds from the issuance of common stock , $ 0.3 million related to proceeds from the employee stock purchase plan , partially offset by $ 1.9 million related to the repurchase of warrants .the $ 64.5 million decrease compared to the prior year is primarily due to $ 63.6 million raised from the public offering in fiscal 2007 .we disbursed approximately $ 2.2 million of cash for the warrant repurchase and settlement of certain litigation .capital expenditures for fiscal 2009 are estimated to be approximately $ 3.0 to $ 6.0 million .contractual obligations and commercial commitments the following table summarizes our contractual obligations at march 31 , 2008 and the effects such obligations are expected to have on our liquidity and cash flows in future periods .payments due by fiscal year ( in $ 000 2019s ) contractual obligations total than 1 than 5 .
[['contractual obligations', 'payments due by fiscal year ( in $ 000 2019s ) total', 'payments due by fiscal year ( in $ 000 2019s ) less than 1 year', 'payments due by fiscal year ( in $ 000 2019s ) 1-3 years', 'payments due by fiscal year ( in $ 000 2019s ) 3-5 years', 'payments due by fiscal year ( in $ 000 2019s ) more than 5 years'], ['operating lease commitments', '$ 7754', '$ 2544', '$ 3507', '$ 1703', '$ 2014'], ['contractual obligations', '9309', '7473', '1836', '2014', '2014'], ['total obligations', '$ 17063', '$ 10017', '$ 5343', '$ 1703', '$ 2014']]
we have no long-term debt , capital leases or other material commitments , for open purchase orders and clinical trial agreements at march 31 , 2008 other than those shown in the table above .in may 2005 , we acquired all the shares of outstanding capital stock of impella cardiosystems ag , a company headquartered in aachen , germany .the aggregate purchase price excluding a contingent payment in the amount of $ 5.6 million made on january 30 , 2007 in the form of common stock , was approximately $ 45.1 million , which consisted of $ 42.2 million of our common stock , $ 1.6 million of cash paid to certain former shareholders of impella and $ 1.3 million of transaction costs , consisting primarily of fees paid for financial advisory and legal services .we may make additional contingent payments to impella 2019s former shareholders based on additional milestone payments related to fda approvals in the amount of up to $ 11.2 million .in june 2008 we received 510 ( k ) clearance of our impella 2.5 , triggering an obligation to pay $ 5.6 million of contingent payments .these contingent payments may be made , at our option , with cash , or stock or by a combination of cash or stock under circumstances described in the purchase agreement , except that approximately $ 1.8 million of these contingent payments must be made in cash .the payment of any contingent payments will result in an increase to the carrying value of goodwill .we apply the disclosure provisions of fin no .45 , guarantor 2019s accounting and disclosure requirements for guarantees , including guarantees of indebtedness of others , and interpretation of fasb statements no .5 , 57 and 107 and rescission of fasb interpretation .
|
no
| 1,582 | 272 |
273 |
why is the information relative to 2012 costs incorrect and what would the correct information be?
|
table of contents rent expense under all operating leases , including both cancelable and noncancelable leases , was $ 645 million , $ 488 million and $ 338 million in 2013 , 2012 and 2011 , respectively .future minimum lease payments under noncancelable operating leases having remaining terms in excess of one year as of september 28 , 2013 , are as follows ( in millions ) : other commitments as of september 28 , 2013 , the company had outstanding off-balance sheet third-party manufacturing commitments and component purchase commitments of $ 18.6 billion .in addition to the off-balance sheet commitments mentioned above , the company had outstanding obligations of $ 1.3 billion as of september 28 , 2013 , which consisted mainly of commitments to acquire capital assets , including product tooling and manufacturing process equipment , and commitments related to advertising , research and development , internet and telecommunications services and other obligations .contingencies the company is subject to various legal proceedings and claims that have arisen in the ordinary course of business and that have not been fully adjudicated .in the opinion of management , there was not at least a reasonable possibility the company may have incurred a material loss , or a material loss in excess of a recorded accrual , with respect to loss contingencies .however , the outcome of litigation is inherently uncertain .therefore , although management considers the likelihood of such an outcome to be remote , if one or more of these legal matters were resolved against the company in a reporting period for amounts in excess of management 2019s expectations , the company 2019s consolidated financial statements for that reporting period could be materially adversely affected .apple inc .v .samsung electronics co. , ltd , et al .on august 24 , 2012 , a jury returned a verdict awarding the company $ 1.05 billion in its lawsuit against samsung electronics co. , ltd and affiliated parties in the united states district court , northern district of california , san jose division .on march 1 , 2013 , the district court upheld $ 599 million of the jury 2019s award and ordered a new trial as to the remainder .because the award is subject to entry of final judgment , partial re-trial and appeal , the company has not recognized the award in its results of operations .virnetx , inc .v .apple inc .et al .on august 11 , 2010 , virnetx , inc .filed an action against the company alleging that certain of its products infringed on four patents relating to network communications technology .on november 6 , 2012 , a jury returned a verdict against the company , and awarded damages of $ 368 million .the company is challenging the verdict , believes it has valid defenses and has not recorded a loss accrual at this time. .
[['2014', '$ 610'], ['2015', '613'], ['2016', '587'], ['2017', '551'], ['2018', '505'], ['thereafter', '1855'], ['total minimum lease payments', '$ 4721']]
.
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in 2012 , apple lost a lawsuit against virnetx , inc . which they believe it has no valid defenses and has not recorded a loss accrual at this time . therefore they never accounted the losses in 2012 and their total for 2012 should be 856 million
| 790 | 273 |
274 |
what was the total amount of money set aside from the market cap for restricted stock in 2014?
|
analog devices , inc .notes to consolidated financial statements 2014 ( continued ) a summary of the company 2019s restricted stock unit award activity as of october 31 , 2015 and changes during the fiscal year then ended is presented below : restricted stock units outstanding ( in thousands ) weighted- average grant- date fair value per share .
[['', 'restrictedstock unitsoutstanding ( in thousands )', 'weighted-average grant-date fair valueper share'], ['restricted stock units outstanding at november 1 2014', '3188', '$ 43.46'], ['units granted', '818', '$ 52.25'], ['restrictions lapsed', '-1151 ( 1151 )', '$ 39.72'], ['forfeited', '-157 ( 157 )', '$ 45.80'], ['restricted stock units outstanding at october 31 2015', '2698', '$ 47.59']]
as of october 31 , 2015 , there was $ 108.8 million of total unrecognized compensation cost related to unvested share- based awards comprised of stock options and restricted stock units .that cost is expected to be recognized over a weighted- average period of 1.3 years .the total grant-date fair value of shares that vested during fiscal 2015 , 2014 and 2013 was approximately $ 65.6 million , $ 57.4 million and $ 63.9 million , respectively .common stock repurchase program the company 2019s common stock repurchase program has been in place since august 2004 .in the aggregate , the board of directors have authorized the company to repurchase $ 5.6 billion of the company 2019s common stock under the program .under the program , the company may repurchase outstanding shares of its common stock from time to time in the open market and through privately negotiated transactions .unless terminated earlier by resolution of the company 2019s board of directors , the repurchase program will expire when the company has repurchased all shares authorized under the program .as of october 31 , 2015 , the company had repurchased a total of approximately 140.7 million shares of its common stock for approximately $ 5.0 billion under this program .an additional $ 544.5 million remains available for repurchase of shares under the current authorized program .the repurchased shares are held as authorized but unissued shares of common stock .the company also , from time to time , repurchases shares in settlement of employee minimum tax withholding obligations due upon the vesting of restricted stock units or the exercise of stock options .the withholding amount is based on the employees minimum statutory withholding requirement .any future common stock repurchases will be dependent upon several factors , including the company's financial performance , outlook , liquidity and the amount of cash the company has available in the united states .preferred stock the company has 471934 authorized shares of $ 1.00 par value preferred stock , none of which is issued or outstanding .the board of directors is authorized to fix designations , relative rights , preferences and limitations on the preferred stock at the time of issuance .4 .industry , segment and geographic information the company operates and tracks its results in one reportable segment based on the aggregation of six operating segments .the company designs , develops , manufactures and markets a broad range of integrated circuits ( ics ) .the chief executive officer has been identified as the company's chief operating decision maker .the company has determined that all of the company's operating segments share the following similar economic characteristics , and therefore meet the criteria established for operating segments to be aggregated into one reportable segment , namely : 2022 the primary source of revenue for each operating segment is the sale of integrated circuits .2022 the integrated circuits sold by each of the company's operating segments are manufactured using similar semiconductor manufacturing processes and raw materials in either the company 2019s own production facilities or by third-party wafer fabricators using proprietary processes .2022 the company sells its products to tens of thousands of customers worldwide .many of these customers use products spanning all operating segments in a wide range of applications .2022 the integrated circuits marketed by each of the company's operating segments are sold globally through a direct sales force , third-party distributors , independent sales representatives and via our website to the same types of customers .all of the company's operating segments share a similar long-term financial model as they have similar economic characteristics .the causes for variation in operating and financial performance are the same among the company's operating segments and include factors such as ( i ) life cycle and price and cost fluctuations , ( ii ) number of competitors , ( iii ) product .
|
$ 138559.5 thousand
| 1,073 | 274 |
275 |
what was the total expense for the company contribution plan from 2013 to 2015?
|
analog devices , inc .notes to consolidated financial statements 2014 ( continued ) the following is a schedule of future minimum rental payments required under long-term operating leases at october 31 , operating fiscal years leases .
[['fiscal years', 'operating leases'], ['2016', '$ 21780'], ['2017', '16305'], ['2018', '8670'], ['2019', '4172'], ['2020', '3298'], ['later years', '5263'], ['total', '$ 59488']]
12 .commitments and contingencies from time to time , in the ordinary course of the company 2019s business , various claims , charges and litigation are asserted or commenced against the company arising from , or related to , contractual matters , patents , trademarks , personal injury , environmental matters , product liability , insurance coverage and personnel and employment disputes .as to such claims and litigation , the company can give no assurance that it will prevail .the company does not believe that any current legal matters will have a material adverse effect on the company 2019s financial position , results of operations or cash flows .13 .retirement plans the company and its subsidiaries have various savings and retirement plans covering substantially all employees .the company maintains a defined contribution plan for the benefit of its eligible u.s .employees .this plan provides for company contributions of up to 5% ( 5 % ) of each participant 2019s total eligible compensation .in addition , the company contributes an amount equal to each participant 2019s pre-tax contribution , if any , up to a maximum of 3% ( 3 % ) of each participant 2019s total eligible compensation .the total expense related to the defined contribution plan for u.s .employees was $ 26.3 million in fiscal 2015 , $ 24.1 million in fiscal 2014 and $ 23.1 million in fiscal 2013 .the company also has various defined benefit pension and other retirement plans for certain non-u.s .employees that are consistent with local statutory requirements and practices .the total expense related to the various defined benefit pension and other retirement plans for certain non-u.s .employees , excluding settlement charges related to the company's irish defined benefit plan , was $ 33.3 million in fiscal 2015 , $ 29.8 million in fiscal 2014 and $ 26.5 million in fiscal 2013 .non-u.s .plan disclosures during fiscal 2015 , the company converted the benefits provided to participants in the company 2019s irish defined benefits pension plan ( the db plan ) to benefits provided under the company 2019s irish defined contribution plan .as a result , in fiscal 2015 the company recorded expenses of $ 223.7 million , including settlement charges , legal , accounting and other professional fees to settle the pension obligation .the assets related to the db plan were liquidated and used to purchase annuities for retirees and distributed to active and deferred members' accounts in the company's irish defined contribution plan in connection with the plan conversion .accordingly , plan assets for the db plan were zero as of the end of fiscal 2015 .the company 2019s funding policy for its foreign defined benefit pension plans is consistent with the local requirements of each country .the plans 2019 assets consist primarily of u.s .and non-u.s .equity securities , bonds , property and cash .the benefit obligations and related assets under these plans have been measured at october 31 , 2015 and november 1 , 2014 .components of net periodic benefit cost net annual periodic pension cost of non-u.s .plans is presented in the following table: .
|
$ 163.1 million
| 874 | 275 |
276 |
if mr . fadell's gave his unvested restricted stock units to a girlfriend , would his wife have more than his girlfriend?
|
security ownership of 5% ( 5 % ) holders , directors , nominees and executive officers shares of common stock percent of common stock name of beneficial owner beneficially owned ( 1 ) outstanding .
[['name of beneficial owner', 'shares of common stock beneficially owned ( 1 )', '', 'percent of common stock outstanding'], ['fidelity investments', '56583870', '-2 ( 2 )', '6.49% ( 6.49 % )'], ['steven p . jobs', '5546451', '', '*'], ['william v . campbell', '112900', '-3 ( 3 )', '*'], ['timothy d . cook', '13327', '-4 ( 4 )', '*'], ['millard s . drexler', '230000', '-5 ( 5 )', '*'], ['tony fadell', '288702', '-6 ( 6 )', '*'], ['albert a . gore jr .', '70000', '-7 ( 7 )', '*'], ['ronald b . johnson', '1450620', '-8 ( 8 )', '*'], ['arthur d . levinson', '365015', '-9 ( 9 )', '*'], ['peter oppenheimer', '14873', '-10 ( 10 )', '*'], ['eric e . schmidt', '12284', '-11 ( 11 )', '*'], ['jerome b . york', '90000', '-12 ( 12 )', '*'], ['all current executive officers and directors as a group ( 14 persons )', '8352396', '-13 ( 13 )', '1.00% ( 1.00 % )']]
all current executive officers and directors as a group ( 14 persons ) 8352396 ( 13 ) 1.00% ( 1.00 % ) ( 1 ) represents shares of the company 2019s common stock held and options held by such individuals that were exercisable at the table date or within 60 days thereafter .this does not include options or restricted stock units that vest more than 60 days after the table date .( 2 ) based on a form 13g/a filed february 14 , 2007 by fmr corp .fmr corp .lists its address as 82 devonshire street , boston , ma 02109 , in such filing .( 3 ) includes 110000 shares of the company 2019s common stock that mr .campbell has the right to acquire by exercise of stock options .( 4 ) excludes 600000 unvested restricted stock units .( 5 ) includes 40000 shares of the company 2019s common stock that mr .drexler holds indirectly and 190000 shares of the company 2019s common stock that mr .drexler has the right to acquire by exercise of stock options .( 6 ) includes 275 shares of the company 2019s common stock that mr .fadell holds indirectly , 165875 shares of the company 2019s common stock that mr .fadell has the right to acquire by exercise of stock options within 60 days after the table date , 1157 shares of the company 2019s common stock held by mr .fadell 2019s spouse , and 117375 shares of the company 2019s common stock that mr .fadell 2019s spouse has the right to acquire by exercise of stock options within 60 days after the table date .excludes 210000 unvested restricted stock units held by mr .fadell and 40000 unvested restricted stock units held by mr .fadell 2019s spouse .( 7 ) consists of 70000 shares of the company 2019s common stock that mr .gore has the right to acquire by exercise of stock options .( 8 ) includes 1300000 shares of the company 2019s common stock that mr .johnson has the right to acquire by exercise of stock options and excludes 450000 unvested restricted stock units .( 9 ) includes 2000 shares of the company 2019s common stock held by dr .levinson 2019s spouse and 110000 shares of the company 2019s common stock that dr .levinson has the right to acquire by exercise of stock options .( 10 ) excludes 450000 unvested restricted stock units. .
|
no
| 1,136 | 276 |
277 |
using the above listed average exercise price , what were the value of the put options purchased?
|
underlying physical transaction occurs .we have not qualified commodity derivative instruments used in our osm or rm&t segments for hedge accounting .as a result , we recognize in net income all changes in the fair value of derivative instruments used in those operations .open commodity derivative positions as of december 31 , 2008 and sensitivity analysis at december 31 , 2008 , our e&p segment held open derivative contracts to mitigate the price risk on natural gas held in storage or purchased to be marketed with our own natural gas production in amounts that were in line with normal levels of activity .at december 31 , 2008 , we had no significant open derivative contracts related to our future sales of liquid hydrocarbons and natural gas and therefore remained substantially exposed to market prices of these commodities .the osm segment holds crude oil options which were purchased by western for a three year period ( january 2007 to december 2009 ) .the premiums for the purchased put options had been partially offset through the sale of call options for the same three-year period , resulting in a net premium liability .payment of the net premium liability is deferred until the settlement of the option contracts .as of december 31 , 2008 , the following put and call options were outstanding: .
[['option expiration date', '2009'], ['option contract volumes ( barrels per day ) :', ''], ['put options purchased', '20000'], ['call options sold', '15000'], ['average exercise price ( dollars per barrel ) :', ''], ['put options', '$ 50.50'], ['call options', '$ 90.50']]
in the first quarter of 2009 , we sold derivative instruments at an average exercise price of $ 50.50 which effectively offset the open put options for the remainder of 2009 .at december 31 , 2008 , the number of open derivative contracts held by our rm&t segment was lower than in previous periods .starting in the second quarter of 2008 , we decreased our use of derivatives to mitigate crude oil price risk between the time that domestic spot crude oil purchases are priced and when they are actually refined into salable petroleum products .instead , we are addressing this price risk through other means , including changes in contractual terms and crude oil acquisition practices .additionally , in previous periods , certain contracts in our rm&t segment for the purchase or sale of commodities were not qualified or designated as normal purchase or normal sales under generally accepted accounting principles and therefore were accounted for as derivative instruments .during the second quarter of 2008 , as we decreased our use of derivatives , we began to designate such contracts for the normal purchase and normal sale exclusion. .
|
$ 1010000.00
| 613 | 277 |
278 |
as of december 2012 , in years , was the hong kong exam opened earlier than the korea exam?
|
notes to consolidated financial statements regulatory tax examinations the firm is subject to examination by the u.s .internal revenue service ( irs ) and other taxing authorities in jurisdictions where the firm has significant business operations , such as the united kingdom , japan , hong kong , korea and various states , such as new york .the tax years under examination vary by jurisdiction .the firm believes that during 2013 , certain audits have a reasonable possibility of being completed .the firm does not expect completion of these audits to have a material impact on the firm 2019s financial condition but it may be material to operating results for a particular period , depending , in part , on the operating results for that period .the table below presents the earliest tax years that remain subject to examination by major jurisdiction .jurisdiction december 2012 u.s .federal 1 2005 new york state and city 2 2004 .
[['jurisdiction', 'as of december 2012'], ['u.s . federal1', '2005'], ['new york state and city2', '2004'], ['united kingdom', '2007'], ['japan3', '2008'], ['hong kong', '2005'], ['korea', '2008']]
1 .irs examination of fiscal 2008 through calendar 2010 began during 2011 .irs examination of fiscal 2005 , 2006 and 2007 began during 2008 .irs examination of fiscal 2003 and 2004 has been completed , but the liabilities for those years are not yet final .the firm anticipates that the audits of fiscal 2005 through calendar 2010 should be completed during 2013 , and the audits of 2011 through 2012 should begin in 2013 .2 .new york state and city examination of fiscal 2004 , 2005 and 2006 began in 2008 .3 .japan national tax agency examination of fiscal 2005 through 2009 began in 2010 .the examinations have been completed , but the liabilities for 2008 and 2009 are not yet final .all years subsequent to the above remain open to examination by the taxing authorities .the firm believes that the liability for unrecognized tax benefits it has established is adequate in relation to the potential for additional assessments .in january 2013 , the firm was accepted into the compliance assurance process program by the irs .this program will allow the firm to work with the irs to identify and resolve potential u.s .federal tax issues before the filing of tax returns .the 2013 tax year will be the first year examined under the program .note 25 .business segments the firm reports its activities in the following four business segments : investment banking , institutional client services , investing & lending and investment management .basis of presentation in reporting segments , certain of the firm 2019s business lines have been aggregated where they have similar economic characteristics and are similar in each of the following areas : ( i ) the nature of the services they provide , ( ii ) their methods of distribution , ( iii ) the types of clients they serve and ( iv ) the regulatory environments in which they operate .the cost drivers of the firm taken as a whole 2014 compensation , headcount and levels of business activity 2014 are broadly similar in each of the firm 2019s business segments .compensation and benefits expenses in the firm 2019s segments reflect , among other factors , the overall performance of the firm as well as the performance of individual businesses .consequently , pre-tax margins in one segment of the firm 2019s business may be significantly affected by the performance of the firm 2019s other business segments .the firm allocates assets ( including allocations of excess liquidity and cash , secured client financing and other assets ) , revenues and expenses among the four reportable business segments .due to the integrated nature of these segments , estimates and judgments are made in allocating certain assets , revenues and expenses .transactions between segments are based on specific criteria or approximate third-party rates .total operating expenses include corporate items that have not been allocated to individual business segments .the allocation process is based on the manner in which management currently views the performance of the segments .goldman sachs 2012 annual report 195 .
|
no
| 1,003 | 278 |
279 |
which five year span , 2019-2023 or 2024-2028 , has a larger combined domestic pension plan?
|
notes to consolidated financial statements 2013 ( continued ) ( amounts in millions , except per share amounts ) the estimated future benefit payments expected to be paid are presented below .domestic pension plan foreign pension plans domestic postretirement benefit plan .
[['years', 'domesticpension plan', 'foreignpension plans', 'domestic postretirementbenefit plan'], ['2019', '$ 14.5', '$ 21.7', '$ 3.0'], ['2020', '8.8', '18.7', '2.8'], ['2021', '8.0', '19.8', '2.6'], ['2022', '8.3', '20.9', '2.4'], ['2023', '7.8', '21.8', '2.2'], ['2024 - 2028', '36.7', '117.2', '9.8']]
the estimated future payments for our domestic postretirement benefit plan are net of any estimated u.s .federal subsidies expected to be received under the medicare prescription drug , improvement and modernization act of 2003 , which total no more than $ 0.3 in any individual year .savings plans we sponsor defined contribution plans ( the 201csavings plans 201d ) that cover substantially all domestic employees .the savings plans permit participants to make contributions on a pre-tax and/or after-tax basis and allow participants to choose among various investment alternatives .we match a portion of participant contributions based upon their years of service .amounts expensed for the savings plans for 2018 , 2017 and 2016 were $ 52.6 , $ 47.2 and $ 47.0 , respectively .expenses include a discretionary company contribution of $ 6.7 , $ 3.6 and $ 6.1 offset by participant forfeitures of $ 5.8 , $ 4.6 and $ 4.4 in 2018 , 2017 and 2016 , respectively .in addition , we maintain defined contribution plans in various foreign countries and contributed $ 51.3 , $ 47.4 and $ 44.5 to these plans in 2018 , 2017 and 2016 , respectively .deferred compensation and benefit arrangements we have deferred compensation and benefit arrangements which ( i ) permit certain of our key officers and employees to defer a portion of their salary or incentive compensation or ( ii ) require us to contribute an amount to the participant 2019s account .these arrangements may provide participants with the amounts deferred plus interest upon attaining certain conditions , such as completing a certain number of years of service , attaining a certain age or upon retirement or termination .as of december 31 , 2018 and 2017 , the deferred compensation and deferred benefit liability balance was $ 196.2 and $ 213.2 , respectively .amounts expensed for deferred compensation and benefit arrangements in 2018 , 2017 and 2016 were $ 10.0 , $ 18.5 and $ 18.5 , respectively .we have purchased life insurance policies on participants 2019 lives to assist in the funding of the related deferred compensation and deferred benefit liabilities .as of december 31 , 2018 and 2017 , the cash surrender value of these policies was $ 177.3 and $ 177.4 , respectively .long-term disability plan we have a long-term disability plan which provides income replacement benefits to eligible participants who are unable to perform their job duties or any job related to his or her education , training or experience .as all income replacement benefits are fully insured , no related obligation is required as of december 31 , 2018 and 2017 .in addition to income replacement benefits , plan participants may remain covered for certain health and life insurance benefits up to normal retirement age , and accordingly , we have recorded an obligation of $ 5.9 and $ 8.4 as of december 31 , 2018 and 2017 , respectively. .
|
2019-2023
| 980 | 279 |
280 |
about how many more shares will the company still buy back in their repurchase plan if they paid $ 16.91 a share?
|
transfer agent and registrar for common stock the transfer agent and registrar for our common stock is : computershare shareowner services llc 480 washington boulevard 29th floor jersey city , new jersey 07310 telephone : ( 877 ) 363-6398 sales of unregistered securities not applicable .repurchase of equity securities the following table provides information regarding our purchases of our equity securities during the period from october 1 , 2013 to december 31 , 2013 .total number of shares ( or units ) purchased 1 average price paid per share ( or unit ) 2 total number of shares ( or units ) purchased as part of publicly announced plans or programs 3 maximum number ( or approximate dollar value ) of shares ( or units ) that may yet be purchased under the plans or programs 3 .
[['', 'total number ofshares ( or units ) purchased1', 'average price paidper share ( or unit ) 2', 'total number ofshares ( or units ) purchased as part ofpublicly announcedplans or programs3', 'maximum number ( or approximate dollar value ) of shares ( or units ) that mayyet be purchased under theplans or programs3'], ['october 1 - 31', '3351759', '$ 16.63', '3350692', '$ 263702132'], ['november 1 - 30', '5202219', '$ 17.00', '5202219', '$ 175284073'], ['december 1 - 31', '3323728', '$ 17.07', '3323728', '$ 118560581'], ['total', '11877706', '$ 16.91', '11876639', '']]
1 includes shares of our common stock , par value $ 0.10 per share , withheld under the terms of grants under employee stock-based compensation plans to offset tax withholding obligations that occurred upon vesting and release of restricted shares ( the 201cwithheld shares 201d ) .we repurchased 1067 withheld shares in october 2013 .no withheld shares were purchased in november or december of 2013 .2 the average price per share for each of the months in the fiscal quarter and for the three-month period was calculated by dividing the sum of the applicable period of the aggregate value of the tax withholding obligations and the aggregate amount we paid for shares acquired under our stock repurchase program , described in note 6 to the consolidated financial statements , by the sum of the number of withheld shares and the number of shares acquired in our stock repurchase program .3 in february 2013 , the board authorized a new share repurchase program to repurchase from time to time up to $ 300.0 million , excluding fees , of our common stock ( the 201c2013 share repurchase program 201d ) .in march 2013 , the board authorized an increase in the amount available under our 2013 share repurchase program up to $ 500.0 million , excluding fees , of our common stock .on february 14 , 2014 , we announced that our board had approved a new share repurchase program to repurchase from time to time up to $ 300.0 million , excluding fees , of our common stock .the new authorization is in addition to any amounts remaining available for repurchase under the 2013 share repurchase program .there is no expiration date associated with the share repurchase programs. .
|
7011270 or about 7 million shares
| 870 | 280 |
281 |
what was the change in pro forma net earnings ( loss ) per common share between 2007 and 2008?
|
the following unaudited pro forma information for the years ended december 31 , 2008 and 2007 pres- ents the results of operations of international paper as if the cbpr and central lewmar acquisitions , and the luiz antonio asset exchange , had occurred on january 1 , 2007 .this pro forma information does not purport to represent international paper 2019s actual results of operations if the transactions described above would have occurred on january 1 , 2007 , nor is it necessarily indicative of future results .in millions , except per share amounts 2008 2007 .
[['in millions except per share amounts', '2008', '2007'], ['net sales', '$ 27920', '$ 27489'], ['earnings ( loss ) from continuingoperations', '-1348 ( 1348 )', '1083'], ['net earnings ( loss ) ( 1 )', '-1361 ( 1361 )', '1052'], ['earnings ( loss ) from continuingoperations per common share', '-3.20 ( 3.20 )', '2.50'], ['net earnings ( loss ) per common share ( 1 )', '-3.23 ( 3.23 )', '2.43']]
earnings ( loss ) from continuing operations per common share ( 3.20 ) 2.50 net earnings ( loss ) per common share ( 1 ) ( 3.23 ) 2.43 ( 1 ) attributable to international paper company common share- holders .joint ventures in october 2007 , international paper and ilim holding s.a .announced the completion of the formation of a 50:50 joint venture to operate in russia as ilim group .to form the joint venture , international paper purchased 50% ( 50 % ) of ilim holding s.a .( ilim ) for approx- imately $ 620 million , including $ 545 million in cash and $ 75 million of notes payable , and contributed an additional $ 21 million in 2008 .the company 2019s investment in ilim totaled approximately $ 465 mil- lion at december 31 , 2009 , which is approximately $ 190 million higher than the company 2019s share of the underlying net assets of ilim .this basis difference primarily consists of the estimated fair value write-up of ilim plant , property and equipment of $ 150 million that is being amortized as a reduction of reported net income over the estimated remaining useful lives of the related assets , goodwill of $ 90 million and other basis differences of $ 50 million , including deferred taxes .a key element of the proposed joint venture strategy is a long-term investment program in which the joint venture will invest , through cash from operations and additional borrowings by the joint venture , approximately $ 1.5 billion in ilim 2019s three mills over approximately five years .this planned investment in the russian pulp and paper industry will be used to upgrade equipment , increase production capacity and allow for new high-value uncoated paper , pulp and corrugated packaging product development .this capital expansion strategy is expected to be ini- tiated in the second half of 2010 , subject to ilim obtaining financing sufficient to fund the project .note 7 businesses held for sale , divestitures and impairments discontinued operations 2008 : during the fourth quarter of 2008 , the com- pany recorded pre-tax gains of $ 9 million ( $ 5 million after taxes ) for adjustments to reserves associated with the sale of discontinued operations .during the first quarter of 2008 , the company recorded a pre-tax charge of $ 25 million ( $ 16 million after taxes ) related to the final settlement of a post- closing adjustment to the purchase price received by the company for the sale of its beverage packaging business , and a $ 3 million charge before taxes ( $ 2 million after taxes ) for 2008 operating losses related to certain wood products facilities .2007 : during the fourth quarter of 2007 , the com- pany recorded a pre-tax charge of $ 9 million ( $ 6 mil- lion after taxes ) and a pre-tax credit of $ 4 million ( $ 3 million after taxes ) relating to adjustments to esti- mated losses on the sales of its beverage packaging and wood products businesses , respectively .addi- tionally , during the fourth quarter , a $ 4 million pre-tax charge ( $ 3 million after taxes ) was recorded for additional taxes associated with the sale of the company 2019s former weldwood of canada limited business .during the third quarter of 2007 , the company com- pleted the sale of the remainder of its non-u.s .beverage packaging business .during the second quarter of 2007 , the company recorded pre-tax charges of $ 6 million ( $ 4 million after taxes ) and $ 5 million ( $ 3 million after taxes ) relating to adjustments to estimated losses on the sales of its wood products and beverage packaging businesses , respectively .during the first quarter of 2007 , the company recorded pre-tax credits of $ 21 million ( $ 9 million after taxes ) and $ 6 million ( $ 4 million after taxes ) relating to the sales of its wood products and kraft papers businesses , respectively .in addition , a $ 15 million pre-tax charge ( $ 39 million after taxes ) was recorded for adjustments to the loss on the com- pletion of the sale of most of the beverage packaging business .finally , a pre-tax credit of approximately $ 10 million ( $ 6 million after taxes ) was recorded for refunds received from the canadian government of .
|
( $ 5.66 )
| 1,325 | 281 |
282 |
what was the total cash dividend paid to holders of common stock as of february 12 , 2012?
|
table of contents index to financial statements item 3 .legal proceedings .item 4 .mine safety disclosures .not applicable .part ii price range our common stock trades on the nasdaq global select market under the symbol 201cmktx 201d .the range of closing price information for our common stock , as reported by nasdaq , was as follows : on february 16 , 2012 , the last reported closing price of our common stock on the nasdaq global select market was $ 32.65 .holders there were 41 holders of record of our common stock as of february 16 , 2012 .dividend policy we initiated a regular quarterly dividend in the fourth quarter of 2009 .during 2010 and 2011 , we paid quarterly cash dividends of $ 0.07 per share and $ 0.09 per share , respectively .in january 2012 , our board of directors approved a quarterly cash dividend of $ 0.11 per share payable on march 1 , 2012 to stockholders of record as of the close of business on february 16 , 2012 .any future declaration and payment of dividends will be at the sole discretion of the company 2019s board of directors .the board of directors may take into account such matters as general business conditions , the company 2019s financial results , capital requirements , contractual , legal , and regulatory restrictions on the payment of dividends to the company 2019s stockholders or by the company 2019s subsidiaries to the parent and any such other factors as the board of directors may deem relevant .recent sales of unregistered securities item 5 .market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities. .
[['2011:', 'high', 'low'], ['january 1 2011 to march 31 2011', '$ 24.19', '$ 19.78'], ['april 1 2011 to june 30 2011', '$ 25.22', '$ 21.00'], ['july 1 2011 to september 30 2011', '$ 30.75', '$ 23.41'], ['october 1 2011 to december 31 2011', '$ 31.16', '$ 24.57'], ['2010:', 'high', 'low'], ['january 1 2010 to march 31 2010', '$ 16.20', '$ 13.25'], ['april 1 2010 to june 30 2010', '$ 17.40', '$ 13.45'], ['july 1 2010 to september 30 2010', '$ 17.30', '$ 12.39'], ['october 1 2010 to december 31 2010', '$ 20.93', '$ 16.93']]
.
|
$ 4.51
| 759 | 282 |
283 |
were government insured or guaranteed residential real estate mortgages greater on 12/31/ 2014 than on12/31/ 2013?
|
consumer lending asset classes home equity and residential real estate loan classes we use several credit quality indicators , including delinquency information , nonperforming loan information , updated credit scores , originated and updated ltv ratios , and geography , to monitor and manage credit risk within the home equity and residential real estate loan classes .we evaluate mortgage loan performance by source originators and loan servicers .a summary of asset quality indicators follows : delinquency/delinquency rates : we monitor trending of delinquency/delinquency rates for home equity and residential real estate loans .see the asset quality section of this note 3 for additional information .nonperforming loans : we monitor trending of nonperforming loans for home equity and residential real estate loans .see the asset quality section of this note 3 for additional information .credit scores : we use a national third-party provider to update fico credit scores for home equity loans and lines of credit and residential real estate loans at least quarterly .the updated scores are incorporated into a series of credit management reports , which are utilized to monitor the risk in the loan classes .ltv ( inclusive of combined loan-to-value ( cltv ) for first and subordinate lien positions ) : at least annually , we update the property values of real estate collateral and calculate an updated ltv ratio .for open-end credit lines secured by real estate in regions experiencing significant declines in property values , more frequent valuations may occur .we examine ltv migration and stratify ltv into categories to monitor the risk in the loan classes .historically , we used , and we continue to use , a combination of original ltv and updated ltv for internal risk management and reporting purposes ( e.g. , line management , loss mitigation strategies ) .in addition to the fact that estimated property values by their nature are estimates , given certain data limitations it is important to note that updated ltvs may be based upon management 2019s assumptions ( e.g. , if an updated ltv is not provided by the third-party service provider , home price index ( hpi ) changes will be incorporated in arriving at management 2019s estimate of updated ltv ) .geography : geographic concentrations are monitored to evaluate and manage exposures .loan purchase programs are sensitive to , and focused within , certain regions to manage geographic exposures and associated risks .a combination of updated fico scores , originated and updated ltv ratios and geographic location assigned to home equity loans and lines of credit and residential real estate loans is used to monitor the risk in the loan classes .loans with higher fico scores and lower ltvs tend to have a lower level of risk .conversely , loans with lower fico scores , higher ltvs , and in certain geographic locations tend to have a higher level of risk .consumer purchased impaired loan class estimates of the expected cash flows primarily determine the valuation of consumer purchased impaired loans .consumer cash flow estimates are influenced by a number of credit related items , which include , but are not limited to : estimated real estate values , payment patterns , updated fico scores , the current economic environment , updated ltv ratios and the date of origination .these key factors are monitored to help ensure that concentrations of risk are managed and cash flows are maximized .see note 4 purchased loans for additional information .table 63 : home equity and residential real estate balances in millions december 31 december 31 .
[['in millions', 'december 312014', 'december 31 2013'], ['home equity and residential real estate loans 2013 excluding purchased impaired loans ( a )', '$ 43348', '$ 44376'], ['home equity and residential real estate loans 2013 purchased impaired loans ( b )', '4541', '5548'], ['government insured or guaranteed residential real estate mortgages ( a )', '1188', '1704'], ['purchase accounting adjustments 2013 purchased impaired loans', '7', '-116 ( 116 )'], ['total home equity and residential real estate loans ( a )', '$ 49084', '$ 51512']]
( a ) represents recorded investment .( b ) represents outstanding balance .the pnc financial services group , inc .2013 form 10-k 133 .
|
no
| 944 | 283 |
284 |
what was the firm's average sum of contractual principal , interest and fees in 2008 and 2009?
|
notes to consolidated financial statements jpmorgan chase & co./2009 annual report 204 on the amount of interest income recognized in the firm 2019s consolidated statements of income since that date .( b ) other changes in expected cash flows include the net impact of changes in esti- mated prepayments and reclassifications to the nonaccretable difference .on a quarterly basis , the firm updates the amount of loan principal and interest cash flows expected to be collected , incorporating assumptions regarding default rates , loss severities , the amounts and timing of prepayments and other factors that are reflective of current market conditions .probable decreases in expected loan principal cash flows trigger the recognition of impairment , which is then measured as the present value of the expected principal loss plus any related foregone interest cash flows discounted at the pool 2019s effective interest rate .impairments that occur after the acquisition date are recognized through the provision and allow- ance for loan losses .probable and significant increases in expected principal cash flows would first reverse any previously recorded allowance for loan losses ; any remaining increases are recognized prospectively as interest income .the impacts of ( i ) prepayments , ( ii ) changes in variable interest rates , and ( iii ) any other changes in the timing of expected cash flows are recognized prospectively as adjustments to interest income .disposals of loans , which may include sales of loans , receipt of payments in full by the borrower , or foreclosure , result in removal of the loan from the purchased credit-impaired portfolio .if the timing and/or amounts of expected cash flows on these purchased credit-impaired loans were determined not to be rea- sonably estimable , no interest would be accreted and the loans would be reported as nonperforming loans ; however , since the timing and amounts of expected cash flows for these purchased credit-impaired loans are reasonably estimable , interest is being accreted and the loans are being reported as performing loans .charge-offs are not recorded on purchased credit-impaired loans until actual losses exceed the estimated losses that were recorded as purchase accounting adjustments at acquisition date .to date , no charge-offs have been recorded for these loans .purchased credit-impaired loans acquired in the washington mu- tual transaction are reported in loans on the firm 2019s consolidated balance sheets .in 2009 , an allowance for loan losses of $ 1.6 billion was recorded for the prime mortgage and option arm pools of loans .the net aggregate carrying amount of the pools that have an allowance for loan losses was $ 47.2 billion at december 31 , 2009 .this allowance for loan losses is reported as a reduction of the carrying amount of the loans in the table below .the table below provides additional information about these pur- chased credit-impaired consumer loans. .
[['december 31 ( in millions )', '2009', '2008'], ['outstanding balance ( a )', '$ 103369', '$ 118180'], ['carrying amount', '79664', '88813']]
( a ) represents the sum of contractual principal , interest and fees earned at the reporting date .purchased credit-impaired loans are also being modified under the mha programs and the firm 2019s other loss mitigation programs .for these loans , the impact of the modification is incorporated into the firm 2019s quarterly assessment of whether a probable and/or signifi- cant change in estimated future cash flows has occurred , and the loans continue to be accounted for as and reported as purchased credit-impaired loans .foreclosed property the firm acquires property from borrowers through loan restructur- ings , workouts , and foreclosures , which is recorded in other assets on the consolidated balance sheets .property acquired may include real property ( e.g. , land , buildings , and fixtures ) and commercial and personal property ( e.g. , aircraft , railcars , and ships ) .acquired property is valued at fair value less costs to sell at acquisition .each quarter the fair value of the acquired property is reviewed and adjusted , if necessary .any adjustments to fair value in the first 90 days are charged to the allowance for loan losses and thereafter adjustments are charged/credited to noninterest revenue 2013other .operating expense , such as real estate taxes and maintenance , are charged to other expense .note 14 2013 allowance for credit losses the allowance for loan losses includes an asset-specific component , a formula-based component and a component related to purchased credit-impaired loans .the asset-specific component relates to loans considered to be impaired , which includes any loans that have been modified in a troubled debt restructuring as well as risk-rated loans that have been placed on nonaccrual status .an asset-specific allowance for impaired loans is established when the loan 2019s discounted cash flows ( or , when available , the loan 2019s observable market price ) is lower than the recorded investment in the loan .to compute the asset-specific component of the allowance , larger loans are evaluated individually , while smaller loans are evaluated as pools using historical loss experience for the respective class of assets .risk-rated loans ( primarily wholesale loans ) are pooled by risk rating , while scored loans ( i.e. , consumer loans ) are pooled by product type .the firm generally measures the asset-specific allowance as the difference between the recorded investment in the loan and the present value of the cash flows expected to be collected , dis- counted at the loan 2019s original effective interest rate .subsequent changes in measured impairment due to the impact of discounting are reported as an adjustment to the provision for loan losses , not as an adjustment to interest income .an asset-specific allowance for an impaired loan with an observable market price is measured as the difference between the recorded investment in the loan and the loan 2019s fair value .certain impaired loans that are determined to be collateral- dependent are charged-off to the fair value of the collateral less costs to sell .when collateral-dependent commercial real-estate loans are determined to be impaired , updated appraisals are typi- cally obtained and updated every six to twelve months .the firm also considers both borrower- and market-specific factors , which .
|
$ 110774.5 million
| 1,348 | 284 |
285 |
for 2011 , was the impact of foreign currency translation adjustments greater than the income tax effect relating to translation adjustments for undistributed foreign earnings?
|
the following table sets forth the components of foreign currency translation adjustments for fiscal 2011 , 2010 and 2009 ( in thousands ) : beginning balance foreign currency translation adjustments income tax effect relating to translation adjustments for undistributed foreign earnings ending balance $ 7632 ( 2208 ) $ 10580 $ 10640 ( 4144 ) $ 7632 $ ( 431 ) 17343 ( 6272 ) $ 10640 stock repurchase program to facilitate our stock repurchase program , designed to return value to our stockholders and minimize dilution from stock issuances , we repurchase shares in the open market and also enter into structured repurchase agreements with third-parties .authorization to repurchase shares to cover on-going dilution was not subject to expiration .however , this repurchase program was limited to covering net dilution from stock issuances and was subject to business conditions and cash flow requirements as determined by our board of directors from time to time .during the third quarter of fiscal 2010 , our board of directors approved an amendment to our stock repurchase program authorized in april 2007 from a non-expiring share-based authority to a time-constrained dollar-based authority .as part of this amendment , the board of directors granted authority to repurchase up to $ 1.6 billion in common stock through the end of fiscal 2012 .this amended program did not affect the $ 250.0 million structured stock repurchase agreement entered into during march 2010 .as of december 3 , 2010 , no prepayments remain under that agreement .during fiscal 2011 , 2010 and 2009 , we entered into several structured repurchase agreements with large financial institutions , whereupon we provided the financial institutions with prepayments totaling $ 695.0 million , $ 850.0 million and $ 350.0 million , respectively .of the $ 850.0 million of prepayments during fiscal 2010 , $ 250.0 million was under the stock repurchase program prior to the program amendment and the remaining $ 600.0 million was under the amended $ 1.6 billion time-constrained dollar- based authority .we enter into these agreements in order to take advantage of repurchasing shares at a guaranteed discount to the volume weighted average price ( 201cvwap 201d ) of our common stock over a specified period of time .we only enter into such transactions when the discount that we receive is higher than the foregone return on our cash prepayments to the financial institutions .there were no explicit commissions or fees on these structured repurchases .under the terms of the agreements , there is no requirement for the financial institutions to return any portion of the prepayment to us .the financial institutions agree to deliver shares to us at monthly intervals during the contract term .the parameters used to calculate the number of shares deliverable are : the total notional amount of the contract , the number of trading days in the contract , the number of trading days in the interval and the average vwap of our stock during the interval less the agreed upon discount .during fiscal 2011 , we repurchased approximately 21.8 million shares at an average price of $ 31.81 through structured repurchase agreements entered into during fiscal 2011 .during fiscal 2010 , we repurchased approximately 31.2 million shares at an average price of $ 29.19 through structured repurchase agreements entered into during fiscal 2009 and fiscal 2010 .during fiscal 2009 , we repurchased approximately 15.2 million shares at an average price per share of $ 27.89 through structured repurchase agreements entered into during fiscal 2008 and fiscal 2009 .for fiscal 2011 , 2010 and 2009 , the prepayments were classified as treasury stock on our consolidated balance sheets at the payment date , though only shares physically delivered to us by december 2 , 2011 , december 3 , 2010 and november 27 , 2009 were excluded from the computation of earnings per share .as of december 2 , 2011 and december 3 , 2010 , no prepayments remained under these agreements .as of november 27 , 2009 , approximately $ 59.9 million of prepayments remained under these agreements .subsequent to december 2 , 2011 , as part of our $ 1.6 billion stock repurchase program , we entered into a structured stock repurchase agreement with a large financial institution whereupon we provided them with a prepayment of $ 80.0 million .this amount will be classified as treasury stock on our consolidated balance sheets .upon completion of the $ 80.0 million stock table of contents adobe systems incorporated notes to consolidated financial statements ( continued ) jarcamo typewritten text .
[['', '2011', '2010', '2009'], ['beginning balance', '$ 7632', '$ 10640', '$ -431 ( 431 )'], ['foreign currency translation adjustments', '5156', '-4144 ( 4144 )', '17343'], ['income tax effect relating to translation adjustments forundistributed foreign earnings', '-2208 ( 2208 )', '1136', '-6272 ( 6272 )'], ['ending balance', '$ 10580', '$ 7632', '$ 10640']]
the following table sets forth the components of foreign currency translation adjustments for fiscal 2011 , 2010 and 2009 ( in thousands ) : beginning balance foreign currency translation adjustments income tax effect relating to translation adjustments for undistributed foreign earnings ending balance $ 7632 ( 2208 ) $ 10580 $ 10640 ( 4144 ) $ 7632 $ ( 431 ) 17343 ( 6272 ) $ 10640 stock repurchase program to facilitate our stock repurchase program , designed to return value to our stockholders and minimize dilution from stock issuances , we repurchase shares in the open market and also enter into structured repurchase agreements with third-parties .authorization to repurchase shares to cover on-going dilution was not subject to expiration .however , this repurchase program was limited to covering net dilution from stock issuances and was subject to business conditions and cash flow requirements as determined by our board of directors from time to time .during the third quarter of fiscal 2010 , our board of directors approved an amendment to our stock repurchase program authorized in april 2007 from a non-expiring share-based authority to a time-constrained dollar-based authority .as part of this amendment , the board of directors granted authority to repurchase up to $ 1.6 billion in common stock through the end of fiscal 2012 .this amended program did not affect the $ 250.0 million structured stock repurchase agreement entered into during march 2010 .as of december 3 , 2010 , no prepayments remain under that agreement .during fiscal 2011 , 2010 and 2009 , we entered into several structured repurchase agreements with large financial institutions , whereupon we provided the financial institutions with prepayments totaling $ 695.0 million , $ 850.0 million and $ 350.0 million , respectively .of the $ 850.0 million of prepayments during fiscal 2010 , $ 250.0 million was under the stock repurchase program prior to the program amendment and the remaining $ 600.0 million was under the amended $ 1.6 billion time-constrained dollar- based authority .we enter into these agreements in order to take advantage of repurchasing shares at a guaranteed discount to the volume weighted average price ( 201cvwap 201d ) of our common stock over a specified period of time .we only enter into such transactions when the discount that we receive is higher than the foregone return on our cash prepayments to the financial institutions .there were no explicit commissions or fees on these structured repurchases .under the terms of the agreements , there is no requirement for the financial institutions to return any portion of the prepayment to us .the financial institutions agree to deliver shares to us at monthly intervals during the contract term .the parameters used to calculate the number of shares deliverable are : the total notional amount of the contract , the number of trading days in the contract , the number of trading days in the interval and the average vwap of our stock during the interval less the agreed upon discount .during fiscal 2011 , we repurchased approximately 21.8 million shares at an average price of $ 31.81 through structured repurchase agreements entered into during fiscal 2011 .during fiscal 2010 , we repurchased approximately 31.2 million shares at an average price of $ 29.19 through structured repurchase agreements entered into during fiscal 2009 and fiscal 2010 .during fiscal 2009 , we repurchased approximately 15.2 million shares at an average price per share of $ 27.89 through structured repurchase agreements entered into during fiscal 2008 and fiscal 2009 .for fiscal 2011 , 2010 and 2009 , the prepayments were classified as treasury stock on our consolidated balance sheets at the payment date , though only shares physically delivered to us by december 2 , 2011 , december 3 , 2010 and november 27 , 2009 were excluded from the computation of earnings per share .as of december 2 , 2011 and december 3 , 2010 , no prepayments remained under these agreements .as of november 27 , 2009 , approximately $ 59.9 million of prepayments remained under these agreements .subsequent to december 2 , 2011 , as part of our $ 1.6 billion stock repurchase program , we entered into a structured stock repurchase agreement with a large financial institution whereupon we provided them with a prepayment of $ 80.0 million .this amount will be classified as treasury stock on our consolidated balance sheets .upon completion of the $ 80.0 million stock table of contents adobe systems incorporated notes to consolidated financial statements ( continued ) jarcamo typewritten text .
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yes
| 2,403 | 285 |
286 |
did the company increase it's quarterly dividend rate from 2007 to 2008?
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derivative instruments see quantitative and qualitative disclosures about market risk for a discussion of derivative instruments and associated market risk .dividends to stockholders dividends of $ 0.92 per common share or $ 637 million were paid during 2007 .on january 27 , 2008 , our board of directors declared a dividend of $ 0.24 cents per share on our common stock , payable march 10 , 2008 , to stockholders of record at the close of business on february 20 , 2008 .liquidity and capital resources our main sources of liquidity and capital resources are internally generated cash flow from operations , committed credit facilities and access to both the debt and equity capital markets .our ability to access the debt capital market is supported by our investment grade credit ratings .our senior unsecured debt is currently rated investment grade by standard and poor 2019s corporation , moody 2019s investor services , inc .and fitch ratings with ratings of bbb+ , baa1 , and bbb+ .these ratings were reaffirmed in july 2007 after the western acquisition was announced .because of the alternatives available to us , including internally generated cash flow and potential asset sales , we believe that our short-term and long-term liquidity is adequate to fund operations , including our capital spending programs , stock repurchase program , repayment of debt maturities and any amounts that ultimately may be paid in connection with contingencies .we have a committed $ 3.0 billion revolving credit facility with third-party financial institutions terminating in may 2012 .at december 31 , 2007 , there were no borrowings against this facility and we had no commercial paper outstanding under our u.s .commercial paper program that is backed by this revolving credit facility .on july 26 , 2007 , we filed a universal shelf registration statement with the securities and exchange commission , under which we , as a well-known seasoned issuer , have the ability to issue and sell an indeterminate amount of various types of debt and equity securities .our cash-adjusted debt-to-capital ratio ( total debt-minus-cash to total debt-plus-equity-minus-cash ) was 22 percent at december 31 , 2007 , compared to six percent at year-end 2006 as shown below .this includes $ 498 million of debt that is serviced by united states steel .( dollars in millions ) 2007 2006 .
[['( dollars in millions )', '2007', '2006'], ['long-term debt due within one year', '$ 1131', '$ 471'], ['long-term debt', '6084', '3061'], ['total debt', '$ 7215', '$ 3532'], ['cash', '$ 1199', '$ 2585'], ['trusteed funds from revenue bonds ( a )', '$ 744', '$ 2013'], ['equity', '$ 19223', '$ 14607'], ['calculation:', '', ''], ['total debt', '$ 7215', '$ 3532'], ['minus cash', '1199', '2585'], ['minus trusteed funds from revenue bonds', '744', '2013'], ['total debt minus cash', '5272', '947'], ['total debt', '7215', '3532'], ['plus equity', '19223', '14607'], ['minus cash', '1199', '2585'], ['minus trusteed funds from revenue bonds', '744', '2013'], ['total debt plus equity minus cash', '$ 24495', '$ 15554'], ['cash-adjusted debt-to-capital ratio', '22% ( 22 % )', '6% ( 6 % )']]
( a ) following the issuance of the $ 1.0 billion of revenue bonds by the parish of st .john the baptist , the proceeds were trusteed and will be disbursed to us upon our request for reimbursement of expenditures related to the garyville refinery expansion .the trusteed funds are reflected as other noncurrent assets in the accompanying consolidated balance sheet as of december 31 , 2007. .
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yes
| 985 | 286 |
287 |
did the vesting date fair value of restricted stock awards which vested increase between 2008 and 2009?
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marathon oil corporation notes to consolidated financial statements restricted stock awards the following is a summary of restricted stock award activity .awards weighted-average grant date fair value .
[['', 'awards', 'weighted-averagegrant datefair value'], ['unvested at december 31 2008', '2049255', '$ 47.72'], ['granted', '251335', '24.74'], ['vested', '-762466 ( 762466 )', '46.03'], ['forfeited', '-96625 ( 96625 )', '43.56'], ['unvested at december 31 2009', '1441499', '44.89']]
the vesting date fair value of restricted stock awards which vested during 2009 , 2008 and 2007 was $ 24 million , $ 38 million and $ 29 million .the weighted average grant date fair value of restricted stock awards was $ 44.89 , $ 47.72 , and $ 39.87 for awards unvested at december 31 , 2009 , 2008 and 2007 .as of december 31 , 2009 , there was $ 43 million of unrecognized compensation cost related to restricted stock awards which is expected to be recognized over a weighted average period of 1.6 years .stock-based performance awards all stock-based performance awards have either vested or been forfeited .the vesting date fair value of stock- based performance awards which vested during 2007 was $ 38 .24 .stockholders 2019 equity in each year , 2009 and 2008 , we issued 2 million in common stock upon the redemption of the exchangeable shares described below in addition to treasury shares issued for employee stock-based awards .the board of directors has authorized the repurchase of up to $ 5 billion of marathon common stock .purchases under the program may be in either open market transactions , including block purchases , or in privately negotiated transactions .we will use cash on hand , cash generated from operations , proceeds from potential asset sales or cash from available borrowings to acquire shares .this program may be changed based upon our financial condition or changes in market conditions and is subject to termination prior to completion .the repurchase program does not include specific price targets or timetables .as of december 31 , 2009 , we have acquired 66 million common shares at a cost of $ 2922 million under the program .no shares have been acquired since august 2008 .securities exchangeable into marathon common stock 2013 as discussed in note 6 , we acquired all of the outstanding shares of western on october 18 , 2007 .the western shareholders who were canadian residents received , at their election , cash , marathon common stock , securities exchangeable into marathon common stock ( the 201cexchangeable shares 201d ) or a combination thereof .the western shareholders elected to receive 5 million exchangeable shares as part of the acquisition consideration .the exchangeable shares are shares of an indirect canadian subsidiary of marathon and , at the acquisition date , were exchangeable on a one-for-one basis into marathon common stock .subsequent to the acquisition , the exchange ratio is adjusted to reflect cash dividends , if any , paid on marathon common stock and cash dividends , if any , paid on the exchangeable shares .the exchange ratio at december 31 , 2009 , was 1.06109 common shares for each exchangeable share .the exchangeable shares are exchangeable at the option of the holder at any time and are automatically redeemable on october 18 , 2011 .holders of exchangeable shares are entitled to instruct a trustee to vote ( or obtain a proxy from the trustee to vote directly ) on all matters submitted to the holders of marathon common stock .the number of votes to which each holder is entitled is equal to the whole number of shares of marathon common stock into which such holder 2019s exchangeable shares would be exchangeable based on the exchange ratio in effect on the record date for the vote .the voting right is attached to voting preferred shares of marathon that were issued to a trustee in an amount .
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no
| 990 | 287 |
288 |
did the five year return on o 2019reilly automotive inc . outperform the s&p 500 retail index?
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stock performance graph : the graph below shows the cumulative total shareholder return assuming the investment of $ 100 , on december 31 , 2013 , and the reinvestment of dividends thereafter , if any , in the company 2019s common stock versus the standard and poor 2019s s&p 500 retail index ( 201cs&p 500 retail index 201d ) and the standard and poor 2019s s&p 500 index ( 201cs&p 500 201d ) . .
[['company/index', 'december 31 , 2013', 'december 31 , 2014', 'december 31 , 2015', 'december 31 , 2016', 'december 31 , 2017', 'december 31 , 2018'], ['o 2019reilly automotive inc .', '$ 100', '$ 150', '$ 197', '$ 216', '$ 187', '$ 268'], ['s&p 500 retail index', '100', '110', '137', '143', '184', '208'], ['s&p 500', '$ 100', '$ 111', '$ 111', '$ 121', '$ 145', '$ 136']]
.
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yes
| 378 | 288 |
289 |
what was the difference in the average price of wti crude and wcs in 2012?
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our international crude oil production is relatively sweet and is generally sold in relation to the brent crude benchmark .the differential between wti and brent average prices widened significantly in 2011 and remained in 2012 in comparison to almost no differential in 2010 .natural gas 2013 a significant portion of our natural gas production in the lower 48 states of the u.s .is sold at bid-week prices or first-of-month indices relative to our specific producing areas .average henry hub settlement prices for natural gas were lower in 2012 than in recent years .a decline in average settlement date henry hub natural gas prices began in september 2011 and continued into 2012 .although prices stabilized in late 2012 , they have not increased appreciably .our other major natural gas-producing regions are e.g .and europe .in the case of e.g .our natural gas sales are subject to term contracts , making realizations less volatile .because natural gas sales from e.g .are at fixed prices , our worldwide reported average natural gas realizations may not fully track market price movements .natural gas prices in europe have been significantly higher than in the u.s .oil sands mining the osm segment produces and sells various qualities of synthetic crude oil .output mix can be impacted by operational problems or planned unit outages at the mines or upgrader .sales prices for roughly two-thirds of the normal output mix will track movements in wti and one-third will track movements in the canadian heavy sour crude oil marker , primarily wcs .in 2012 , the wcs discount from wti had increased , putting downward pressure on our average realizations .the operating cost structure of the osm operations is predominantly fixed and therefore many of the costs incurred in times of full operation continue during production downtime .per-unit costs are sensitive to production rates .key variable costs are natural gas and diesel fuel , which track commodity markets such as the canadian alberta energy company ( "aeco" ) natural gas sales index and crude oil prices , respectively .the table below shows average benchmark prices that impact both our revenues and variable costs. .
[['benchmark', '2012', '2011', '2010'], ['wti crude oil ( dollars per bbl )', '$ 94.15', '$ 95.11', '$ 79.61'], ['wcs ( dollars per bbl ) ( a )', '$ 73.18', '$ 77.97', '$ 65.31'], ['aeco natural gas sales index ( dollars per mmbtu ) ( b )', '$ 2.39', '$ 3.68', '$ 3.89']]
wcs ( dollars per bbl ) ( a ) $ 73.18 $ 77.97 $ 65.31 aeco natural gas sales index ( dollars per mmbtu ) ( b ) $ 2.39 $ 3.68 $ 3.89 ( a ) monthly pricing based upon average wti adjusted for differentials unique to western canada .( b ) monthly average day ahead index .integrated gas our ig operations include production and marketing of products manufactured from natural gas , such as lng and methanol , in e.g .world lng trade in 2012 has been estimated to be 240 mmt .long-term , lng continues to be in demand as markets seek the benefits of clean burning natural gas .market prices for lng are not reported or posted .in general , lng delivered to the u.s .is tied to henry hub prices and will track with changes in u.s .natural gas prices , while lng sold in europe and asia is indexed to crude oil prices and will track the movement of those prices .we have a 60 percent ownership in an lng production facility in e.g. , which sells lng under a long-term contract at prices tied to henry hub natural gas prices .gross sales from the plant were 3.8 mmt , 4.1 mmt and 3.7 mmt in 2012 , 2011 and 2010 .we own a 45 percent interest in a methanol plant located in e.g .through our investment in ampco .gross sales of methanol from the plant totaled 1.1 mmt , 1.0 mmt and 0.9 mmt in 2012 , 2011 and 2010 .methanol demand has a direct impact on ampco 2019s earnings .because global demand for methanol is rather limited , changes in the supply-demand balance can have a significant impact on sales prices .world demand for methanol in 2012 has been estimated to be 49 mmt .our plant capacity of 1.1 mmt is about 2 percent of world demand. .
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$ 20.97
| 1,073 | 289 |
290 |
was interest income greater than stock-based compensation cost in 2010?
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notes to the consolidated financial statements related to the change in the unrealized gain ( loss ) on derivatives for the years ended december 31 , 2010 , 2009 and 2008 was $ 1 million , $ ( 16 ) million and $ 30 million , respectively .19 .employee savings plan ppg 2019s employee savings plan ( 201csavings plan 201d ) covers substantially all u.s .employees .the company makes matching contributions to the savings plan based upon participants 2019 savings , subject to certain limitations .for most participants not covered by a collective bargaining agreement , company-matching contributions are established each year at the discretion of the company and are applied to a maximum of 6% ( 6 % ) of eligible participant compensation .for those participants whose employment is covered by a collective bargaining agreement , the level of company- matching contribution , if any , is determined by the collective bargaining agreement .the company-matching contribution was 100% ( 100 % ) for 2008 and for the first two months of 2009 .the company- matching contribution was suspended from march 2009 through june 2010 as a cost savings measure in recognition of the adverse impact of the global recession .effective july 1 , 2010 , the company match was reinstated at 50% ( 50 % ) on the first 6% ( 6 % ) contributed for most employees eligible for the company-matching contribution feature .this would have included the bargained employees in accordance with their collective bargaining agreements .on january 1 , 2011 , the company match was increased to 75% ( 75 % ) on the first 6% ( 6 % ) contributed by these eligible employees .compensation expense and cash contributions related to the company match of participant contributions to the savings plan for 2010 , 2009 and 2008 totaled $ 9 million , $ 7 million and $ 42 million , respectively .a portion of the savings plan qualifies under the internal revenue code as an employee stock ownership plan .as a result , the tax deductible dividends on ppg shares held by the savings plan were $ 24 million , $ 28 million and $ 29 million for 2010 , 2009 and 2008 , respectively .20 .other earnings ( millions ) 2010 2009 2008 .
[['( millions )', '2010', '2009', '2008'], ['interest income', '$ 34', '$ 28', '$ 26'], ['royalty income', '58', '45', '52'], ['share of net earnings ( loss ) of equity affiliates ( see note 6 )', '45', '-5 ( 5 )', '3'], ['gain on sale of assets', '8', '36', '23'], ['other', '69', '74', '61'], ['total', '$ 214', '$ 178', '$ 165']]
total $ 214 $ 178 $ 165 21 .stock-based compensation the company 2019s stock-based compensation includes stock options , restricted stock units ( 201crsus 201d ) and grants of contingent shares that are earned based on achieving targeted levels of total shareholder return .all current grants of stock options , rsus and contingent shares are made under the ppg industries , inc .omnibus incentive plan ( 201cppg omnibus plan 201d ) .shares available for future grants under the ppg omnibus plan were 4.1 million as of december 31 , 2010 .total stock-based compensation cost was $ 52 million , $ 34 million and $ 33 million in 2010 , 2009 and 2008 , respectively .the total income tax benefit recognized in the accompanying consolidated statement of income related to the stock-based compensation was $ 18 million , $ 12 million and $ 12 million in 2010 , 2009 and 2008 , respectively .stock options ppg has outstanding stock option awards that have been granted under two stock option plans : the ppg industries , inc .stock plan ( 201cppg stock plan 201d ) and the ppg omnibus plan .under the ppg omnibus plan and the ppg stock plan , certain employees of the company have been granted options to purchase shares of common stock at prices equal to the fair market value of the shares on the date the options were granted .the options are generally exercisable beginning from six to 48 months after being granted and have a maximum term of 10 years .upon exercise of a stock option , shares of company stock are issued from treasury stock .the ppg stock plan includes a restored option provision for options originally granted prior to january 1 , 2003 that allows an optionee to exercise options and satisfy the option price by certifying ownership of mature shares of ppg common stock with equivalent market value .the fair value of stock options issued to employees is measured on the date of grant and is recognized as expense over the requisite service period .ppg estimates the fair value of stock options using the black-scholes option pricing model .the risk-free interest rate is determined by using the u.s .treasury yield curve at the date of the grant and using a maturity equal to the expected life of the option .the expected life of options is calculated using the average of the vesting term and the maximum term , as prescribed by accounting guidance on the use of the simplified method for determining the expected term of an employee share option .this method is used as the vesting term of stock options was changed to three years in 2004 and , as a result , the historical exercise data does not provide a reasonable basis upon which to estimate the expected life of options .the expected dividend yield and volatility are based on historical stock prices and dividend amounts over past time periods equal in length to the expected life of the options .66 2010 ppg annual report and form 10-k .
|
no
| 1,384 | 290 |
291 |
about how many towers were leased or subleased in 2004?
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we have experienced disputes with customers and suppliers 2014such disputes may lead to increased tensions , damaged relationships or litigation which may result in the loss of a key customer or supplier .we have experienced certain conflicts or disputes with some of our customers and service providers .most of these disputes relate to the interpretation of terms in our contracts .while we seek to resolve such conflicts amicably and have generally resolved customer and supplier disputes on commercially reasonable terms , such disputes may lead to increased tensions and damaged relationships between ourselves and these entities , some of whom are key customers or suppliers of ours .in addition , if we are unable to resolve these differences amicably , we may be forced to litigate these disputes in order to enforce or defend our rights .there can be no assurances as to the outcome of these disputes .damaged relationships or litigation with our key customers or suppliers may lead to decreased revenues ( including as a result of losing a customer ) or increased costs , which could have a material adverse effect on us .our operations in australia expose us to changes in foreign currency exchange rates 2014we may suffer losses as a result of changes in such currency exchange rates .we conduct business in the u.s .and australia , which exposes us to fluctuations in foreign currency exchange rates .for the year ended december 31 , 2004 , approximately 7.5% ( 7.5 % ) of our consolidated revenues originated outside the u.s. , all of which were denominated in currencies other than u.s .dollars , principally australian dollars .we have not historically engaged in significant hedging activities relating to our non-u.s .dollar operations , and we may suffer future losses as a result of changes in currency exchange rates .internet access to reports we maintain an internet website at www.crowncastle.com .our annual reports on form 10-k , quarterly reports on form 10-q , and current reports on form 8-k ( and any amendments to those reports filed or furnished pursuant to section 13 ( a ) or 15 ( d ) of the securities exchange act of 1934 ) are made available , free of charge , through the investor relations section of our internet website at http://investor.crowncastle.com/edgar.cfm as soon as reasonably practicable after we electronically file such material with , or furnish it to , the securities and exchange commission .in addition , our corporate governance guidelines , business practices and ethics policy and the charters of our audit committee , compensation committee and nominating & corporate governance committees are available through the investor relations section of our internet website at http://investor.crowncastle.com/edgar.cfm , and such information is also available in print to any shareholder who requests it .item 2 .properties our principal corporate offices are located in houston , texas ; canonsburg , pennsylvania ; and sydney , australia .location property interest ( sq .ft. ) use .
[['location', 'property interest', 'size ( sq . ft. )', 'use'], ['canonsburg pa', 'owned', '124000', 'corporate office'], ['houston tx', 'leased', '24300', 'corporate office'], ['sydney australia', 'leased', '15527', 'corporate office']]
in the u.s. , we also lease and maintain five additional regional offices ( called 201carea offices 201d ) located in ( 1 ) albany , new york , ( 2 ) alpharetta , georgia , ( 3 ) charlotte , north carolina , ( 4 ) louisville , kentucky and ( 5 ) phoenix , arizona .the principal responsibilities of these offices are to manage the leasing of tower space on a local basis , maintain the towers already located in the region and service our customers in the area .as of december 31 , 2004 , 8816 of the sites on which our u.s .towers are located , or approximately 83% ( 83 % ) of our u.s .portfolio , were leased , subleased or licensed , while 1796 or approximately 17% ( 17 % ) were owned in fee or through .
|
7317 towers were leased or subleased in 2004
| 925 | 291 |
292 |
what was the total income tax benefit that came from buying back their common stock from 2013 to 2015?
|
during fiscal 2013 , we entered into an asr with a financial institution to repurchase an aggregate of $ 125 million of our common stock .in exchange for an up-front payment of $ 125 million , the financial institution committed to deliver a number of shares during the asr 2019s purchase period , which ended on march 30 , 2013 .the total number of shares delivered under this asr was 2.5 million at an average price of $ 49.13 per share .during fiscal 2013 , in addition to shares repurchased under the asr , we repurchased and retired 1.1 million shares of our common stock at a cost of $ 50.3 million , or an average of $ 44.55 per share , including commissions .note 10 2014share-based awards and options non-qualified stock options and restricted stock have been granted to officers , key employees and directors under the global payments inc .2000 long-term incentive plan , as amended and restated ( the 201c2000 plan 201d ) , the global payments inc .amended and restated 2005 incentive plan ( the 201c2005 plan 201d ) , the amended and restated 2000 non-employee director stock option plan ( the 201cdirector stock option plan 201d ) , and the global payments inc .2011 incentive plan ( the 201c2011 plan 201d ) ( collectively , the 201cplans 201d ) .there were no further grants made under the 2000 plan after the 2005 plan was effective , and the director stock option plan expired by its terms on february 1 , 2011 .there will be no future grants under the 2000 plan , the 2005 plan or the director stock option the 2011 plan permits grants of equity to employees , officers , directors and consultants .a total of 7.0 million shares of our common stock was reserved and made available for issuance pursuant to awards granted under the 2011 plan .the following table summarizes share-based compensation expense and the related income tax benefit recognized for stock options , restricted stock , performance units , tsr units , and shares issued under our employee stock purchase plan ( each as described below ) .2015 2014 2013 ( in millions ) .
[['', '2015', '2014 ( in millions )', '2013'], ['share-based compensation expense', '$ 21.1', '$ 29.8', '$ 18.4'], ['income tax benefit', '$ -6.9 ( 6.9 )', '$ -7.1 ( 7.1 )', '$ -5.6 ( 5.6 )']]
we grant various share-based awards pursuant to the plans under what we refer to as our 201clong-term incentive plan . 201d the awards are held in escrow and released upon the grantee 2019s satisfaction of conditions of the award certificate .restricted stock and restricted stock units we grant restricted stock and restricted stock units .restricted stock awards vest over a period of time , provided , however , that if the grantee is not employed by us on the vesting date , the shares are forfeited .restricted shares cannot be sold or transferred until they have vested .restricted stock granted before fiscal 2015 vests in equal installments on each of the first four anniversaries of the grant date .restricted stock granted during fiscal 2015 will either vest in equal installments on each of the first three anniversaries of the grant date or cliff vest at the end of a three-year service period .the grant date fair value of restricted stock , which is based on the quoted market value of our common stock at the closing of the award date , is recognized as share-based compensation expense on a straight-line basis over the vesting period .performance units certain of our executives have been granted up to three types of performance units under our long-term incentive plan .performance units are performance-based restricted stock units that , after a performance period , convert into common shares , which may be restricted .the number of shares is dependent upon the achievement of certain performance measures during the performance period .the target number of performance units and any market-based performance measures ( 201cat threshold , 201d 201ctarget , 201d and 201cmaximum 201d ) are set by the compensation committee of our board of directors .performance units are converted only after the compensation committee certifies performance based on pre-established goals .80 2013 global payments inc .| 2015 form 10-k annual report .
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$ 19.6 million
| 1,100 | 292 |
293 |
how much segmented net sales was earned in the north america in 2007?
|
unit shipments increased 49% ( 49 % ) to 217.4 million units in 2006 , compared to 146.0 million units in 2005 .the overall increase was driven by increased unit shipments of products for gsm , cdma and 3g technologies , partially offset by decreased unit shipments of products for iden technology .for the full year 2006 , unit shipments by the segment increased in all regions .due to the segment 2019s increase in unit shipments outpacing overall growth in the worldwide handset market , which grew approximately 20% ( 20 % ) in 2006 , the segment believes that it expanded its global handset market share to an estimated 22% ( 22 % ) for the full year 2006 .in 2006 , asp decreased approximately 11% ( 11 % ) compared to 2005 .the overall decrease in asp was driven primarily by changes in the geographic and product-tier mix of sales .by comparison , asp decreased approximately 10% ( 10 % ) in 2005 and increased approximately 15% ( 15 % ) in 2004 .asp is impacted by numerous factors , including product mix , market conditions and competitive product offerings , and asp trends often vary over time .in 2006 , the largest of the segment 2019s end customers ( including sales through distributors ) were china mobile , verizon , sprint nextel , cingular , and t-mobile .these five largest customers accounted for approximately 39% ( 39 % ) of the segment 2019s net sales in 2006 .besides selling directly to carriers and operators , the segment also sold products through a variety of third-party distributors and retailers , which accounted for approximately 38% ( 38 % ) of the segment 2019s net sales .the largest of these distributors was brightstar corporation .although the u.s .market continued to be the segment 2019s largest individual market , many of our customers , and more than 65% ( 65 % ) of the segment 2019s 2006 net sales , were outside the u.s .the largest of these international markets were china , brazil , the united kingdom and mexico .home and networks mobility segment the home and networks mobility segment designs , manufactures , sells , installs and services : ( i ) digital video , internet protocol ( 201cip 201d ) video and broadcast network interactive set-tops ( 201cdigital entertainment devices 201d ) , end-to- end video delivery solutions , broadband access infrastructure systems , and associated data and voice customer premise equipment ( 201cbroadband gateways 201d ) to cable television and telecom service providers ( collectively , referred to as the 201chome business 201d ) , and ( ii ) wireless access systems ( 201cwireless networks 201d ) , including cellular infrastructure systems and wireless broadband systems , to wireless service providers .in 2007 , the segment 2019s net sales represented 27% ( 27 % ) of the company 2019s consolidated net sales , compared to 21% ( 21 % ) in 2006 and 26% ( 26 % ) in 2005 .( dollars in millions ) 2007 2006 2005 2007 20142006 2006 20142005 years ended december 31 percent change .
[['( dollars in millions )', 'years ended december 31 2007', 'years ended december 31 2006', 'years ended december 31 2005', 'years ended december 31 2007 20142006', '2006 20142005'], ['segment net sales', '$ 10014', '$ 9164', '$ 9037', '9% ( 9 % )', '1% ( 1 % )'], ['operating earnings', '709', '787', '1232', '( 10 ) % ( % )', '( 36 ) % ( % )']]
segment results 20142007 compared to 2006 in 2007 , the segment 2019s net sales increased 9% ( 9 % ) to $ 10.0 billion , compared to $ 9.2 billion in 2006 .the 9% ( 9 % ) increase in net sales reflects a 27% ( 27 % ) increase in net sales in the home business , partially offset by a 1% ( 1 % ) decrease in net sales of wireless networks .net sales of digital entertainment devices increased approximately 43% ( 43 % ) , reflecting increased demand for digital set-tops , including hd/dvr set-tops and ip set-tops , partially offset by a decline in asp due to a product mix shift towards all-digital set-tops .unit shipments of digital entertainment devices increased 51% ( 51 % ) to 15.2 million units .net sales of broadband gateways increased approximately 6% ( 6 % ) , primarily due to higher net sales of data modems , driven by net sales from the netopia business acquired in february 2007 .net sales of wireless networks decreased 1% ( 1 % ) , primarily driven by lower net sales of iden and cdma infrastructure equipment , partially offset by higher net sales of gsm infrastructure equipment , despite competitive pricing pressure .on a geographic basis , the 9% ( 9 % ) increase in net sales reflects higher net sales in all geographic regions .the increase in net sales in north america was driven primarily by higher sales of digital entertainment devices , partially offset by lower net sales of iden and cdma infrastructure equipment .the increase in net sales in asia was primarily due to higher net sales of gsm infrastructure equipment , partially offset by lower net sales of cdma infrastructure equipment .the increase in net sales in emea was , primarily due to higher net sales of gsm infrastructure equipment , partially offset by lower demand for iden and cdma infrastructure equipment .net sales in north america continue to comprise a significant portion of the segment 2019s business , accounting for 52% ( 52 % ) of the segment 2019s total net sales in 2007 , compared to 56% ( 56 % ) of the segment 2019s total net sales in 2006 .60 management 2019s discussion and analysis of financial condition and results of operations .
|
$ 5207
| 1,553 | 293 |
294 |
what was the ratio of the debt issue in 2004 to the debt payment in 2005
|
liquidity and capital resources as of december 31 , 2006 , our principal sources of liquidity included cash , cash equivalents , the sale of receivables , and our revolving credit facilities , as well as the availability of commercial paper and other sources of financing through the capital markets .we had $ 2 billion of committed credit facilities available , of which there were no borrowings outstanding as of december 31 , 2006 , and we did not make any short-term borrowings under these facilities during the year .the value of the outstanding undivided interest held by investors under the sale of receivables program was $ 600 million as of december 31 , 2006 .the sale of receivables program is subject to certain requirements , including the maintenance of an investment grade bond rating .if our bond rating were to deteriorate , it could have an adverse impact on our liquidity .access to commercial paper is dependent on market conditions .deterioration of our operating results or financial condition due to internal or external factors could negatively impact our ability to utilize commercial paper as a source of liquidity .liquidity through the capital markets is also dependent on our financial stability .at both december 31 , 2006 and 2005 , we had a working capital deficit of approximately $ 1.1 billion .a working capital deficit is common in our industry and does not indicate a lack of liquidity .we maintain adequate resources to meet our daily cash requirements , and we have sufficient financial capacity to satisfy our current liabilities .financial condition cash flows millions of dollars 2006 2005 2004 .
[['cash flowsmillions of dollars', '2006', '2005', '2004'], ['cash provided by operating activities', '$ 2880', '$ 2595', '$ 2257'], ['cash used in investing activities', '-2042 ( 2042 )', '-2047 ( 2047 )', '-1732 ( 1732 )'], ['cash used in financing activities', '-784 ( 784 )', '-752 ( 752 )', '-75 ( 75 )'], ['net change in cash and cash equivalents', '$ 54', '$ -204 ( 204 )', '$ 450']]
cash provided by operating activities 2013 higher income in 2006 generated the increased cash provided by operating activities , which was partially offset by higher income tax payments , $ 150 million in voluntary pension contributions , higher material and supply inventories , and higher management incentive payments in 2006 .higher income , lower management incentive payments in 2005 ( executive bonuses , which would have been paid to individuals in 2005 , were not awarded based on company performance in 2004 and bonuses for the professional workforce that were paid out in 2005 were significantly reduced ) , and working capital performance generated higher cash from operating activities in 2005 .a voluntary pension contribution of $ 100 million in 2004 also augmented the positive year-over-year variance in 2005 as no pension contribution was made in 2005 .this improvement was partially offset by cash received in 2004 for income tax refunds .cash used in investing activities 2013 an insurance settlement for the 2005 january west coast storm and lower balances for work in process decreased the amount of cash used in investing activities in 2006 .higher capital investments and lower proceeds from asset sales partially offset this decrease .increased capital spending , partially offset by higher proceeds from asset sales , increased the amount of cash used in investing activities in 2005 compared to 2004 .cash used in financing activities 2013 the increase in cash used in financing activities primarily resulted from lower net proceeds from equity compensation plans ( $ 189 million in 2006 compared to $ 262 million in 2005 ) .the increase in 2005 results from debt issuances in 2004 and higher debt repayments in 2005 .we did not issue debt in 2005 versus $ 745 million of debt issuances in 2004 , and we repaid $ 699 million of debt in 2005 compared to $ 588 million in 2004 .the higher outflows in 2005 were partially offset by higher net proceeds from equity compensation plans ( $ 262 million in 2005 compared to $ 80 million in 2004 ) . .
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[22] : we did not issue debt in 2005 versus $ 745 million of debt issuances in 2004 , and we repaid $ 699 million of debt in 2005 compared to $ 588 million in 2004.
| 1,118 | 294 |
295 |
what was the net change in diluted earnings ( loss ) per common share from continuing operations between 2008 and 2009?
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in april 2009 , the fasb issued additional guidance under asc 820 which provides guidance on estimat- ing the fair value of an asset or liability ( financial or nonfinancial ) when the volume and level of activity for the asset or liability have significantly decreased , and on identifying transactions that are not orderly .the application of the requirements of this guidance did not have a material effect on the accompanying consolidated financial statements .in august 2009 , the fasb issued asu 2009-05 , 201cmeasuring liabilities at fair value , 201d which further amends asc 820 by providing clarification for cir- cumstances in which a quoted price in an active market for the identical liability is not available .the company included the disclosures required by this guidance in the accompanying consolidated financial statements .accounting for uncertainty in income taxes in june 2006 , the fasb issued guidance under asc 740 , 201cincome taxes 201d ( formerly fin 48 ) .this guid- ance prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in tax returns .specifically , the financial statement effects of a tax position may be recognized only when it is determined that it is 201cmore likely than not 201d that , based on its technical merits , the tax position will be sustained upon examination by the relevant tax authority .the amount recognized shall be measured as the largest amount of tax benefits that exceed a 50% ( 50 % ) probability of being recognized .this guidance also expands income tax disclosure requirements .international paper applied the provisions of this guidance begin- ning in the first quarter of 2007 .the adoption of this guidance resulted in a charge to the beginning bal- ance of retained earnings of $ 94 million at the date of adoption .note 3 industry segment information financial information by industry segment and geo- graphic area for 2009 , 2008 and 2007 is presented on pages 47 and 48 .effective january 1 , 2008 , the company changed its method of allocating corpo- rate overhead expenses to its business segments to increase the expense amounts allocated to these businesses in reports reviewed by its chief executive officer to facilitate performance comparisons with other companies .accordingly , the company has revised its presentation of industry segment operat- ing profit to reflect this change in allocation method , and has adjusted all comparative prior period information on this basis .note 4 earnings per share attributable to international paper company common shareholders basic earnings per common share from continuing operations are computed by dividing earnings from continuing operations by the weighted average number of common shares outstanding .diluted earnings per common share from continuing oper- ations are computed assuming that all potentially dilutive securities , including 201cin-the-money 201d stock options , were converted into common shares at the beginning of each year .in addition , the computation of diluted earnings per share reflects the inclusion of contingently convertible securities in periods when dilutive .a reconciliation of the amounts included in the computation of basic earnings per common share from continuing operations , and diluted earnings per common share from continuing operations is as fol- in millions except per share amounts 2009 2008 2007 .
[['in millions except per share amounts', '2009', '2008', '2007'], ['earnings ( loss ) from continuing operations', '$ 663', '$ -1269 ( 1269 )', '$ 1215'], ['effect of dilutive securities ( a )', '2013', '2013', '2013'], ['earnings ( loss ) from continuing operations 2013 assumingdilution', '$ 663', '$ -1269 ( 1269 )', '$ 1215'], ['average common shares outstanding', '425.3', '421.0', '428.9'], ['effect of dilutive securities restricted performance share plan ( a )', '2.7', '2013', '3.7'], ['stock options ( b )', '2013', '2013', '0.4'], ['average common shares outstanding 2013 assuming dilution', '428.0', '421.0', '433.0'], ['basic earnings ( loss ) per common share from continuing operations', '$ 1.56', '$ -3.02 ( 3.02 )', '$ 2.83'], ['diluted earnings ( loss ) per common share from continuing operations', '$ 1.55', '$ -3.02 ( 3.02 )', '$ 2.81']]
average common shares outstanding 2013 assuming dilution 428.0 421.0 433.0 basic earnings ( loss ) per common share from continuing operations $ 1.56 $ ( 3.02 ) $ 2.83 diluted earnings ( loss ) per common share from continuing operations $ 1.55 $ ( 3.02 ) $ 2.81 ( a ) securities are not included in the table in periods when anti- dilutive .( b ) options to purchase 22.2 million , 25.1 million and 17.5 million shares for the years ended december 31 , 2009 , 2008 and 2007 , respectively , were not included in the computation of diluted common shares outstanding because their exercise price exceeded the average market price of the company 2019s common stock for each respective reporting date .note 5 restructuring and other charges this footnote discusses restructuring and other charges recorded for each of the three years included in the period ended december 31 , 2009 .it .
|
$ 4.57
| 1,328 | 295 |
296 |
what was the average annual store closure from 2007 to 2011?
|
the following table sets forth information concerning increases in the total number of our aap stores during the past five years : beginning stores new stores ( 1 ) stores closed ending stores ( 1 ) does not include stores that opened as relocations of previously existing stores within the same general market area or substantial renovations of stores .our store-based information systems , which are designed to improve the efficiency of our operations and enhance customer service , are comprised of a proprietary pos system and electronic parts catalog , or epc , system .information maintained by our pos system is used to formulate pricing , marketing and merchandising strategies and to replenish inventory accurately and rapidly .our pos system is fully integrated with our epc system and enables our store team members to assist our customers in their parts selection and ordering based on the year , make , model and engine type of their vehicles .our centrally-based epc data management system enables us to reduce the time needed to ( i ) exchange data with our vendors and ( ii ) catalog and deliver updated , accurate parts information .our epc system also contains enhanced search engines and user-friendly navigation tools that enhance our team members' ability to look up any needed parts as well as additional products the customer needs to complete an automotive repair project .if a hard-to-find part or accessory is not available at one of our stores , the epc system can determine whether the part is carried and in-stock through our hub or pdq ae networks or can be ordered directly from one of our vendors .available parts and accessories are then ordered electronically from another store , hub , pdq ae or directly from the vendor with immediate confirmation of price , availability and estimated delivery time .we also support our store operations with additional proprietary systems and customer driven labor scheduling capabilities .our store-level inventory management system provides real-time inventory tracking at the store level .with the store-level system , store team members can check the quantity of on-hand inventory for any sku , adjust stock levels for select items for store specific events , automatically process returns and defective merchandise , designate skus for cycle counts and track merchandise transfers .our stores use radio frequency hand-held devices to help ensure the accuracy of our inventory .our standard operating procedure , or sop , system is a web-based , electronic data management system that provides our team members with instant access to any of our standard operating procedures through a comprehensive on-line search function .all of these systems are tightly integrated and provide real-time , comprehensive information to store personnel , resulting in improved customer service levels , team member productivity and in-stock availability .purchasing for virtually all of the merchandise for our stores is handled by our merchandise teams located in three primary locations : 2022 store support center in roanoke , virginia ; 2022 regional office in minneapolis , minnesota ; and 2022 global sourcing office in taipei , taiwan .our roanoke team is primarily responsible for the parts categories and our minnesota team is primarily responsible for accessories , oil and chemicals .our global sourcing team works closely with both teams .in fiscal 2011 , we purchased merchandise from approximately 500 vendors , with no single vendor accounting for more than 9% ( 9 % ) of purchases .our purchasing strategy involves negotiating agreements with most of our vendors to purchase merchandise over a specified period of time along with other terms , including pricing , payment terms and volume .the merchandising team has developed strong vendor relationships in the industry and , in a collaborative effort with our vendor partners , utilizes a category management process where we manage the mix of our product offerings to meet customer demand .we believe this process , which develops a customer-focused business plan for each merchandise category , and our global sourcing operation are critical to improving comparable store sales , gross margin and inventory productivity. .
[['', '2011', '2010', '2009', '2008', '2007'], ['beginning stores', '3369', '3264', '3243', '3153', '2995'], ['new stores ( 1 )', '95', '110', '75', '109', '175'], ['stores closed', '-4 ( 4 )', '-5 ( 5 )', '-54 ( 54 )', '-19 ( 19 )', '-17 ( 17 )'], ['ending stores', '3460', '3369', '3264', '3243', '3153']]
the following table sets forth information concerning increases in the total number of our aap stores during the past five years : beginning stores new stores ( 1 ) stores closed ending stores ( 1 ) does not include stores that opened as relocations of previously existing stores within the same general market area or substantial renovations of stores .our store-based information systems , which are designed to improve the efficiency of our operations and enhance customer service , are comprised of a proprietary pos system and electronic parts catalog , or epc , system .information maintained by our pos system is used to formulate pricing , marketing and merchandising strategies and to replenish inventory accurately and rapidly .our pos system is fully integrated with our epc system and enables our store team members to assist our customers in their parts selection and ordering based on the year , make , model and engine type of their vehicles .our centrally-based epc data management system enables us to reduce the time needed to ( i ) exchange data with our vendors and ( ii ) catalog and deliver updated , accurate parts information .our epc system also contains enhanced search engines and user-friendly navigation tools that enhance our team members' ability to look up any needed parts as well as additional products the customer needs to complete an automotive repair project .if a hard-to-find part or accessory is not available at one of our stores , the epc system can determine whether the part is carried and in-stock through our hub or pdq ae networks or can be ordered directly from one of our vendors .available parts and accessories are then ordered electronically from another store , hub , pdq ae or directly from the vendor with immediate confirmation of price , availability and estimated delivery time .we also support our store operations with additional proprietary systems and customer driven labor scheduling capabilities .our store-level inventory management system provides real-time inventory tracking at the store level .with the store-level system , store team members can check the quantity of on-hand inventory for any sku , adjust stock levels for select items for store specific events , automatically process returns and defective merchandise , designate skus for cycle counts and track merchandise transfers .our stores use radio frequency hand-held devices to help ensure the accuracy of our inventory .our standard operating procedure , or sop , system is a web-based , electronic data management system that provides our team members with instant access to any of our standard operating procedures through a comprehensive on-line search function .all of these systems are tightly integrated and provide real-time , comprehensive information to store personnel , resulting in improved customer service levels , team member productivity and in-stock availability .purchasing for virtually all of the merchandise for our stores is handled by our merchandise teams located in three primary locations : 2022 store support center in roanoke , virginia ; 2022 regional office in minneapolis , minnesota ; and 2022 global sourcing office in taipei , taiwan .our roanoke team is primarily responsible for the parts categories and our minnesota team is primarily responsible for accessories , oil and chemicals .our global sourcing team works closely with both teams .in fiscal 2011 , we purchased merchandise from approximately 500 vendors , with no single vendor accounting for more than 9% ( 9 % ) of purchases .our purchasing strategy involves negotiating agreements with most of our vendors to purchase merchandise over a specified period of time along with other terms , including pricing , payment terms and volume .the merchandising team has developed strong vendor relationships in the industry and , in a collaborative effort with our vendor partners , utilizes a category management process where we manage the mix of our product offerings to meet customer demand .we believe this process , which develops a customer-focused business plan for each merchandise category , and our global sourcing operation are critical to improving comparable store sales , gross margin and inventory productivity. .
|
19.8 stores per year
| 1,738 | 296 |
297 |
what is the proportion of dollars at the beginning of both combined years to dollars at end of both combined years?
|
kimco realty corporation and subsidiaries notes to consolidated financial statements , continued uncertain tax positions : the company is subject to income tax in certain jurisdictions outside the u.s. , principally canada and mexico .the statute of limitations on assessment of tax varies from three to seven years depending on the jurisdiction and tax issue .tax returns filed in each jurisdiction are subject to examination by local tax authorities .the company is currently under audit by the canadian revenue agency , mexican tax authority and the u.s .internal revenue service ( 201cirs 201d ) .in october 2011 , the irs issued a notice of proposed adjustment , which proposes pursuant to section 482 of the code , to disallow a capital loss claimed by krs on the disposition of common shares of valad property ltd. , an australian publicly listed company .because the adjustment is being made pursuant to section 482 of the code , the irs believes it can assert a 100 percent 201cpenalty 201d tax pursuant to section 857 ( b ) ( 7 ) of the code and disallow the capital loss deduction .the notice of proposed adjustment indicates the irs 2019 intention to impose the 100 percent 201cpenalty 201d tax on the company in the amount of $ 40.9 million and disallowing the capital loss claimed by krs .the company and its outside counsel have considered the irs 2019 assessment and believe that there is sufficient documentation establishing a valid business purpose for the transfer , including recent case history showing support for similar positions .accordingly , the company strongly disagrees with the irs 2019 position on the application of section 482 of the code to the disposition of the shares , the imposition of the 100 percent penalty tax and the simultaneous assertion of the penalty tax and disallowance of the capital loss deduction .the company received a notice of proposed assessment and filed a written protest and requested an irs appeals office conference .an appeals hearing was attended by management and its attorneys , the irs compliance group and an irs appeals officer in november , 2014 , at which time irs compliance presented arguments in support of their position , as noted herein .management and its attorneys presented rebuttal arguments in support of its position .the matter is currently under consideration by the appeals officer .the company intends to vigorously defend its position in this matter and believes it will prevail .resolutions of these audits are not expected to have a material effect on the company 2019s financial statements .during 2013 , the company early adopted asu 2013-11 prospectively and reclassified a portion of its reserve for uncertain tax positions .the reserve for uncertain tax positions included amounts related to the company 2019s canadian operations .the company has unrecognized tax benefits reported as deferred tax assets and are available to settle adjustments made with respect to the company 2019s uncertain tax positions in canada .the company reduced its reserve for uncertain tax positions by $ 12.3 million associated with its canadian operations and reduced its deferred tax assets in accordance with asu 2013-11 .the company does not believe that the total amount of unrecognized tax benefits as of december 31 , 2014 , will significantly increase or decrease within the next 12 months .as of december 31 , 2014 , the company 2019s canadian uncertain tax positions , which reduce its deferred tax assets , aggregated $ 10.4 million .the liability for uncertain tax benefits principally consists of estimated foreign , federal and state income tax liabilities in years for which the statute of limitations is open .open years range from 2008 through 2014 and vary by jurisdiction and issue .the aggregate changes in the balance of unrecognized tax benefits for the years ended december 31 , 2014 and 2013 were as follows ( in thousands ) : .
[['', '201 4', '2013'], ['balance beginning of year', '$ 4590', '$ 16890'], ['increases for tax positions related to current year', '59', '15'], ['reduction due to adoption of asu 2013-11 ( a )', '-', '-12315 ( 12315 )'], ['balance end of year', '$ 4649', '$ 4590']]
( a ) this amount was reclassified against the related deferred tax asset relating to the company 2019s early adoption of asu 2013-11 as discussed above. .
|
1.33:1
| 1,039 | 297 |
298 |
what is a rough estimate of the ratio of securities given to securities received?
|
contracts as of december 31 , 2006 , which all mature in 2007 .forward contract notional amounts presented below are expressed in the stated currencies ( in thousands ) .forward currency contracts: .
[['', '( pay ) /receive'], ['u.s . dollars', '-114000 ( 114000 )'], ['euros', '-4472 ( 4472 )'], ['singapore dollars', '37180'], ['canadian dollars', '81234'], ['malaysian ringgits', '85963']]
a movement of 10% ( 10 % ) in the value of the u.s .dollar against foreign currencies would impact our expected net earnings by approximately $ 0.1 million .item 8 .financial statements and supplementary data the financial statements and supplementary data required by this item are included herein , commencing on page f-1 .item 9 .changes in and disagreements with accountants on accounting and financial disclosure item 9a .controls and procedures ( a ) evaluation of disclosure controls and procedures our management , with the participation of our chief executive officer and chief financial officer , evaluated the effectiveness of our disclosure controls and procedures as of the end of the period covered by this report .based on that evaluation , the chief executive officer and chief financial officer concluded that our disclosure controls and procedures as of the end of the period covered by this report are functioning effectively to provide reasonable assurance that the information required to be disclosed by us in reports filed under the securities exchange act of 1934 is ( i ) recorded , processed , summarized and reported within the time periods specified in the sec 2019s rules and forms and ( ii ) accumulated and communicated to our management , including the chief executive officer and chief financial officer , as appropriate to allow timely decisions regarding disclosure .a controls system cannot provide absolute assurance , however , that the objectives of the controls system are met , and no evaluation of controls can provide absolute assurance that all control issues and instances of fraud , if any , within a company have been detected .( b ) management 2019s report on internal control over financial reporting our management 2019s report on internal control over financial reporting is set forth on page f-2 of this annual report on form 10-k and is incorporated by reference herein .( c ) change in internal control over financial reporting no change in our internal control over financial reporting occurred during our most recent fiscal quarter that has materially affected , or is reasonably likely to materially affect , our internal control over financial reporting .item 9b .other information .
|
3/5
| 572 | 298 |
299 |
what is the statistical interval that interest income can be affected during the next year based on the data from 2013?
|
item 7a .quantitative and qualitative disclosures about market risk ( amounts in millions ) in the normal course of business , we are exposed to market risks related to interest rates , foreign currency rates and certain balance sheet items .from time to time , we use derivative instruments , pursuant to established guidelines and policies , to manage some portion of these risks .derivative instruments utilized in our hedging activities are viewed as risk management tools and are not used for trading or speculative purposes .interest rates our exposure to market risk for changes in interest rates relates primarily to the fair market value and cash flows of our debt obligations .the majority of our debt ( approximately 89% ( 89 % ) and 93% ( 93 % ) as of december 31 , 2013 and 2012 , respectively ) bears interest at fixed rates .we do have debt with variable interest rates , but a 10% ( 10 % ) increase or decrease in interest rates would not be material to our interest expense or cash flows .the fair market value of our debt is sensitive to changes in interest rates , and the impact of a 10% ( 10 % ) change in interest rates is summarized below .increase/ ( decrease ) in fair market value as of december 31 , 10% ( 10 % ) increase in interest rates 10% ( 10 % ) decrease in interest rates .
[['as of december 31,', 'increase/ ( decrease ) in fair market value 10% ( 10 % ) increasein interest rates', 'increase/ ( decrease ) in fair market value 10% ( 10 % ) decreasein interest rates'], ['2013', '$ -26.9 ( 26.9 )', '$ 27.9'], ['2012', '-27.5 ( 27.5 )', '28.4']]
we have used interest rate swaps for risk management purposes to manage our exposure to changes in interest rates .we do not have any interest rate swaps outstanding as of december 31 , 2013 .we had $ 1642.1 of cash , cash equivalents and marketable securities as of december 31 , 2013 that we generally invest in conservative , short-term bank deposits or securities .the interest income generated from these investments is subject to both domestic and foreign interest rate movements .during 2013 and 2012 , we had interest income of $ 24.7 and $ 29.5 , respectively .based on our 2013 results , a 100-basis-point increase or decrease in interest rates would affect our interest income by approximately $ 16.4 , assuming that all cash , cash equivalents and marketable securities are impacted in the same manner and balances remain constant from year-end 2013 levels .foreign currency rates we are subject to translation and transaction risks related to changes in foreign currency exchange rates .since we report revenues and expenses in u.s .dollars , changes in exchange rates may either positively or negatively affect our consolidated revenues and expenses ( as expressed in u.s .dollars ) from foreign operations .the primary foreign currencies that impacted our results during 2013 were the australian dollar , brazilian real , euro , japanese yen and the south african rand .based on 2013 exchange rates and operating results , if the u.s .dollar were to strengthen or weaken by 10% ( 10 % ) , we currently estimate operating income would decrease or increase between 3% ( 3 % ) and 4% ( 4 % ) , assuming that all currencies are impacted in the same manner and our international revenue and expenses remain constant at 2013 levels .the functional currency of our foreign operations is generally their respective local currency .assets and liabilities are translated at the exchange rates in effect at the balance sheet date , and revenues and expenses are translated at the average exchange rates during the period presented .the resulting translation adjustments are recorded as a component of accumulated other comprehensive loss , net of tax , in the stockholders 2019 equity section of our consolidated balance sheets .our foreign subsidiaries generally collect revenues and pay expenses in their functional currency , mitigating transaction risk .however , certain subsidiaries may enter into transactions in currencies other than their functional currency .assets and liabilities denominated in currencies other than the functional currency are susceptible to movements in foreign currency until final settlement .currency transaction gains or losses primarily arising from transactions in currencies other than the functional currency are included in office and general expenses .we have not entered into a material amount of foreign currency forward exchange contracts or other derivative financial instruments to hedge the effects of potential adverse fluctuations in foreign currency exchange rates. .
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$ 8.3 < interest income < $ 41.1 . or the interest income would be between $ 8.3 million and $ 41.1 million
| 1,066 | 299 |
300 |
how much more operational risk , in billions , did the firm take on in 2010 and 2011 combined than in 2012?
|
management 2019s discussion and analysis 120 jpmorgan chase & co./2012 annual report $ 12.0 billion , and jpmorgan clearing 2019s net capital was $ 6.6 billion , exceeding the minimum requirement by $ 5.0 billion .in addition to its minimum net capital requirement , jpmorgan securities is required to hold tentative net capital in excess of $ 1.0 billion and is also required to notify the sec in the event that tentative net capital is less than $ 5.0 billion , in accordance with the market and credit risk standards of appendix e of the net capital rule .as of december 31 , 2012 , jpmorgan securities had tentative net capital in excess of the minimum and notification requirements .j.p .morgan securities plc ( formerly j.p .morgan securities ltd. ) is a wholly-owned subsidiary of jpmorgan chase bank , n.a .and is the firm 2019s principal operating subsidiary in the u.k .it has authority to engage in banking , investment banking and broker-dealer activities .j.p .morgan securities plc is regulated by the u.k .financial services authority ( 201cfsa 201d ) .at december 31 , 2012 , it had total capital of $ 20.8 billion , or a total capital ratio of 15.5% ( 15.5 % ) which exceeded the 8% ( 8 % ) well-capitalized standard applicable to it under basel 2.5 .economic risk capital jpmorgan chase assesses its capital adequacy relative to the risks underlying its business activities using internal risk-assessment methodologies .the firm measures economic capital primarily based on four risk factors : credit , market , operational and private equity risk. .
[['year ended december 31 ( in billions )', 'yearly average 2012', 'yearly average 2011', 'yearly average 2010'], ['credit risk', '$ 46.6', '$ 48.2', '$ 49.7'], ['market risk', '17.5', '14.5', '15.1'], ['operational risk', '15.9', '8.5', '7.4'], ['private equity risk', '6.0', '6.9', '6.2'], ['economic risk capital', '86.0', '78.1', '78.4'], ['goodwill', '48.2', '48.6', '48.6'], ['other ( a )', '50.2', '46.6', '34.5'], ['total common stockholders 2019equity', '$ 184.4', '$ 173.3', '$ 161.5']]
( a ) reflects additional capital required , in the firm 2019s view , to meet its regulatory and debt rating objectives .credit risk capital credit risk capital is estimated separately for the wholesale businesses ( cib , cb and am ) and consumer business ( ccb ) .credit risk capital for the wholesale credit portfolio is defined in terms of unexpected credit losses , both from defaults and from declines in the value of the portfolio due to credit deterioration , measured over a one-year period at a confidence level consistent with an 201caa 201d credit rating standard .unexpected losses are losses in excess of those for which the allowance for credit losses is maintained .the capital methodology is based on several principal drivers of credit risk : exposure at default ( or loan-equivalent amount ) , default likelihood , credit spreads , loss severity and portfolio correlation .credit risk capital for the consumer portfolio is based on product and other relevant risk segmentation .actual segment-level default and severity experience are used to estimate unexpected losses for a one-year horizon at a confidence level consistent with an 201caa 201d credit rating standard .the decrease in credit risk capital in 2012 was driven by consumer portfolio runoff and continued model enhancements to better estimate future stress credit losses in the consumer portfolio .see credit risk management on pages 134 2013135 of this annual report for more information about these credit risk measures .market risk capital the firm calculates market risk capital guided by the principle that capital should reflect the risk of loss in the value of the portfolios and financial instruments caused by adverse movements in market variables , such as interest and foreign exchange rates , credit spreads , and securities and commodities prices , taking into account the liquidity of the financial instruments .results from daily var , weekly stress tests , issuer credit spreads and default risk calculations , as well as other factors , are used to determine appropriate capital levels .market risk capital is allocated to each business segment based on its risk assessment .the increase in market risk capital in 2012 was driven by increased risk in the synthetic credit portfolio .see market risk management on pages 163 2013169 of this annual report for more information about these market risk measures .operational risk capital operational risk is the risk of loss resulting from inadequate or failed processes or systems , human factors or external events .the operational risk capital model is based on actual losses and potential scenario-based losses , with adjustments to the capital calculation to reflect changes in the quality of the control environment .the increase in operational risk capital in 2012 was primarily due to continued model enhancements to better capture large historical loss events , including mortgage-related litigation costs .the increases that occurred during 2012 will be fully reflected in average operational risk capital in 2013 .see operational risk management on pages 175 2013176 of this annual report for more information about operational risk .private equity risk capital capital is allocated to privately- and publicly-held securities , third-party fund investments , and commitments in the private equity portfolio , within the corporate/private equity segment , to cover the potential loss associated with a decline in equity markets and related asset devaluations .in addition to negative market fluctuations , potential losses in private equity investment portfolios can be magnified by liquidity risk. .
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