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301 |
assuming an average interest rate of 7% ( 7 % ) , what is the implied composite debt level for 2014 , in millions?
|
related expenses incurred by our logistics subsidiaries for external transportation and increased crew transportation and lodging due to volumes and a slower network .in addition , higher consulting fees and higher contract expenses ( including equipment maintenance ) increased costs compared to 2013 .locomotive and freight car material expenses increased in 2014 compared to 2013 due to additional volumes , including the impact of activating stored equipment to address operational issues caused by demand and a slower network .expenses for purchased services increased 10% ( 10 % ) in 2013 compared to 2012 due to logistics management fees , an increase in locomotive overhauls and repairs on jointly owned property .depreciation 2013 the majority of depreciation relates to road property , including rail , ties , ballast , and other track material .depreciation was up 7% ( 7 % ) compared to 2013 .a higher depreciable asset base , reflecting higher ongoing capital spending drove the increase .depreciation was up 1% ( 1 % ) in 2013 compared to 2012 .recent depreciation studies allowed us to use longer estimated service lives for certain equipment , which partially offset the impact of a higher depreciable asset base resulting from larger capital spending in recent years .equipment and other rents 2013 equipment and other rents expense primarily includes rental expense that the railroad pays for freight cars owned by other railroads or private companies ; freight car , intermodal , and locomotive leases ; and office and other rent expenses .higher intermodal volumes and longer cycle times increased short-term freight car rental expense in 2014 compared to 2013 .lower equipment leases essentially offset the higher freight car rental expense , as we exercised purchase options on some of our leased equipment .additional container costs resulting from the logistics management arrangement , and increased automotive shipments , partially offset by lower cycle times drove a $ 51 million increase in our short-term freight car rental expense in 2013 versus 2012 .conversely , lower locomotive and freight car lease expenses partially offset the higher freight car rental expense .other 2013 other expenses include state and local taxes , freight , equipment and property damage , utilities , insurance , personal injury , environmental , employee travel , telephone and cellular , computer software , bad debt , and other general expenses .higher property taxes , personal injury expense and utilities costs partially offset by lower environmental expense and costs associated with damaged freight drove the increase in other costs in 2014 compared to 2013 .higher property taxes and costs associated with damaged freight and property increased other costs in 2013 compared to 2012 .continued improvement in our safety performance and lower estimated liability for personal injury , which reduced our personal injury expense year-over-year , partially offset increases in other costs .non-operating items millions 2014 2013 2012 % ( % ) change 2014 v 2013 % ( % ) change 2013 v 2012 .
[['millions', '2014', '2013', '2012', '% ( % ) change 2014 v 2013', '% ( % ) change2013 v 2012'], ['other income', '$ 151', '$ 128', '$ 108', '18% ( 18 % )', '19% ( 19 % )'], ['interest expense', '-561 ( 561 )', '-526 ( 526 )', '-535 ( 535 )', '7', '-2 ( 2 )'], ['income taxes', '-3163 ( 3163 )', '-2660 ( 2660 )', '-2375 ( 2375 )', '19% ( 19 % )', '12% ( 12 % )']]
other income 2013 other income increased in 2014 versus 2013 due to higher gains from real estate sales and a sale of a permanent easement .these gains were partially offset by higher environmental costs on non-operating property in 2014 and lower lease income due to the $ 17 million settlement of a land lease contract in 2013 .other income increased in 2013 versus 2012 due to higher gains from real estate sales and increased lease income , including the favorable impact from the $ 17 million settlement of a land lease contract .these increases were partially offset by interest received from a tax refund in 2012. .
|
8-14
| 1,055 | 301 |
302 |
what is the dividend yield of the stock-based compensation cost in 2018?
|
bhge 2018 form 10-k | 85 it is expected that the amount of unrecognized tax benefits will change in the next twelve months due to expiring statutes , audit activity , tax payments , and competent authority proceedings related to transfer pricing or final decisions in matters that are the subject of litigation in various taxing jurisdictions in which we operate .at december 31 , 2018 , we had approximately $ 96 million of tax liabilities , net of $ 1 million of tax assets , related to uncertain tax positions , each of which are individually insignificant , and each of which are reasonably possible of being settled within the next twelve months .we conduct business in more than 120 countries and are subject to income taxes in most taxing jurisdictions in which we operate .all internal revenue service examinations have been completed and closed through year end 2015 for the most significant u.s .returns .we believe there are no other jurisdictions in which the outcome of unresolved issues or claims is likely to be material to our results of operations , financial position or cash flows .we further believe that we have made adequate provision for all income tax uncertainties .note 13 .stock-based compensation in july 2017 , we adopted the bhge 2017 long-term incentive plan ( lti plan ) under which we may grant stock options and other equity-based awards to employees and non-employee directors providing services to the company and our subsidiaries .a total of up to 57.4 million shares of class a common stock are authorized for issuance pursuant to awards granted under the lti plan over its term which expires on the date of the annual meeting of the company in 2027 .a total of 46.2 million shares of class a common stock are available for issuance as of december 31 , 2018 .stock-based compensation cost was $ 121 million and $ 37 million in 2018 and 2017 , respectively .stock-based compensation cost is measured at the date of grant based on the calculated fair value of the award and is generally recognized on a straight-line basis over the vesting period of the equity grant .the compensation cost is determined based on awards ultimately expected to vest ; therefore , we have reduced the cost for estimated forfeitures based on historical forfeiture rates .forfeitures are estimated at the time of grant and revised , if necessary , in subsequent periods to reflect actual forfeitures .there were no stock-based compensation costs capitalized as the amounts were not material .stock options we may grant stock options to our officers , directors and key employees .stock options generally vest in equal amounts over a three-year vesting period provided that the employee has remained continuously employed by the company through such vesting date .the fair value of each stock option granted is estimated using the black- scholes option pricing model .the following table presents the weighted average assumptions used in the option pricing model for options granted under the lti plan .the expected life of the options represents the period of time the options are expected to be outstanding .the expected life is based on a simple average of the vesting term and original contractual term of the awards .the expected volatility is based on the historical volatility of our five main competitors over a six year period .the risk-free interest rate is based on the observed u.s .treasury yield curve in effect at the time the options were granted .the dividend yield is based on a five year history of dividend payouts in baker hughes. .
[['', '2018', '2017'], ['expected life ( years )', '6', '6'], ['risk-free interest rate', '2.5% ( 2.5 % )', '2.1% ( 2.1 % )'], ['volatility', '33.7% ( 33.7 % )', '36.4% ( 36.4 % )'], ['dividend yield', '2% ( 2 % )', '1.2% ( 1.2 % )'], ['weighted average fair value per share at grant date', '$ 10.34', '$ 12.32']]
baker hughes , a ge company notes to consolidated and combined financial statements .
|
2.42 million
| 911 | 302 |
303 |
what was the total amount of land owned by the company ? ( 1 acre = 43560 square feet )
|
item 2 : properties information concerning applied 2019s properties at october 30 , 2016 is set forth below: .
[['( square feet in thousands )', 'united states', 'other countries', 'total'], ['owned', '3745', '1629', '5374'], ['leased', '564', '1103', '1667'], ['total', '4309', '2732', '7041']]
because of the interrelation of applied 2019s operations , properties within a country may be shared by the segments operating within that country .the company 2019s headquarters offices are in santa clara , california .products in semiconductor systems are manufactured in austin , texas ; gloucester , massachusetts ; kalispell , montana ; rehovot , israel ; and singapore .remanufactured equipment products in the applied global services segment are produced primarily in austin , texas .products in the display and adjacent markets segment are manufactured in alzenau , germany ; tainan , taiwan ; and santa clara , california .other products are manufactured in 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 280 acres of buildable land in montana , texas , california , massachusetts , 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. .
|
19237800 square feet
| 455 | 303 |
304 |
in millions , what was the average loss from foreign currency translation from 2015-2017?
|
table of contents cdw corporation and subsidiaries method or straight-line method , as applicable .the company classifies deferred financing costs as a direct deduction from the carrying value of the long-term debt liability on the consolidated balance sheets , except for deferred financing costs associated with revolving credit facilities which are presented as an asset , within other assets on the consolidated balance sheets .derivative instruments the company has interest rate cap agreements for the purpose of hedging its exposure to fluctuations in interest rates .the interest rate cap agreements are designated as cash flow hedges of interest rate risk and recorded at fair value in other assets on the consolidated balance sheets .the gain or loss on the derivative instruments is reported as a component of accumulated other comprehensive loss until reclassified to interest expense in the same period the hedge transaction affects earnings .fair value measurements fair value is defined under gaap as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date .a fair value hierarchy has been established for valuation inputs to prioritize the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market .each fair value measurement is reported in one of the three levels which is determined by the lowest level input that is significant to the fair value measurement in its entirety .these levels are : level 1 2013 observable inputs such as quoted prices for identical instruments traded in active markets .level 2 2013 inputs are based on quoted prices for similar instruments in active markets , quoted prices for identical or similar instruments in markets that are not active and model-based valuation techniques for which all significant assumptions are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities .level 3 2013 inputs are generally unobservable and typically reflect management 2019s estimates of assumptions that market participants would use in pricing the asset or liability .the fair values are therefore determined using model-based techniques that include option pricing models , discounted cash flow models and similar techniques .accumulated other comprehensive loss the components of accumulated other comprehensive loss included in stockholders 2019 equity are as follows: .
[['( in millions )', 'years ended december 31 , 2017', 'years ended december 31 , 2016', 'years ended december 31 , 2015'], ['foreign currency translation', '$ -96.1 ( 96.1 )', '$ -139.6 ( 139.6 )', '$ -61.1 ( 61.1 )'], ['unrealized gain from hedge accounting', '0.2', '2014', '2014'], ['accumulated other comprehensive loss', '$ -95.9 ( 95.9 )', '$ -139.6 ( 139.6 )', '$ -61.1 ( 61.1 )']]
revenue recognition the company is a primary distribution channel for a large group of vendors and suppliers , including original equipment manufacturers ( 201coems 201d ) , software publishers , wholesale distributors and cloud providers .the company records revenue from sales transactions when title and risk of loss are passed to the customer , there is persuasive evidence of an arrangement for sale , delivery has occurred and/or services have been rendered , the sales price is fixed or determinable , and collectability is reasonably assured .the company 2019s shipping terms typically specify f.o.b .destination , at which time title and risk of loss have passed to the customer .revenues from the sales of hardware products and software licenses are generally recognized on a gross basis with the selling price to the customer recorded as sales and the acquisition cost of the product recorded as cost of sales .these items can be delivered to customers in a variety of ways , including ( i ) as physical product shipped from the company 2019s warehouse , ( ii ) via drop-shipment by the vendor or supplier , or ( iii ) via electronic delivery for software licenses .at the time of sale , the company records an estimate for sales returns and allowances based on historical experience .the company 2019s vendor partners warrant most of the products the company sells .the company leverages drop-shipment arrangements with many of its vendors and suppliers to deliver products to its customers without having to physically hold the inventory at its warehouses , thereby increasing efficiency and reducing .
|
( 98.9 )
| 961 | 304 |
305 |
what is the ratio of issued units to outstanding units?
|
part iii item 10 .directors , executive officers and corporate governance for the information required by this item 10 , other than information with respect to our executive officers contained at the end of item 1 of this report , see 201celection of directors , 201d 201cnominees for election to the board of directors , 201d 201ccorporate governance 201d and 201csection 16 ( a ) beneficial ownership reporting compliance , 201d in the proxy statement for our 2015 annual meeting , which information is incorporated herein by reference .the proxy statement for our 2015 annual meeting will be filed within 120 days of the close of our fiscal year .for the information required by this item 10 with respect to our executive officers , see part i of this report on pages 11 - 12 .item 11 .executive compensation for the information required by this item 11 , see 201cexecutive compensation , 201d 201ccompensation committee report on executive compensation 201d and 201ccompensation committee interlocks and insider participation 201d in the proxy statement for our 2015 annual meeting , which information is incorporated herein by reference .item 12 .security ownership of certain beneficial owners and management and related stockholder matters for the information required by this item 12 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 2015 annual meeting , which information is incorporated herein by reference .the following table sets forth certain information as of december 31 , 2014 regarding our equity plans : plan category number of securities to be issued upon exercise of outstanding options , warrants and rights 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 1233672 $ 75.93 4903018 item 13 .certain relationships and related transactions , and director independence for the information required by this item 13 , see 201ccertain transactions 201d and 201ccorporate governance 201d in the proxy statement for our 2015 annual meeting , which information is incorporated herein by reference .item 14 .principal accounting fees and services for the information required by this item 14 , see 201caudit and non-audit fees 201d and 201cpolicy on audit committee pre- approval of audit and non-audit services of independent registered public accounting firm 201d in the proxy statement for our 2015 annual meeting , which information is incorporated herein by reference. .
[['plan category', 'number of securitiesto be issued uponexercise ofoutstanding options warrants and rights ( 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', '1233672', '$ 75.93', '4903018']]
part iii item 10 .directors , executive officers and corporate governance for the information required by this item 10 , other than information with respect to our executive officers contained at the end of item 1 of this report , see 201celection of directors , 201d 201cnominees for election to the board of directors , 201d 201ccorporate governance 201d and 201csection 16 ( a ) beneficial ownership reporting compliance , 201d in the proxy statement for our 2015 annual meeting , which information is incorporated herein by reference .the proxy statement for our 2015 annual meeting will be filed within 120 days of the close of our fiscal year .for the information required by this item 10 with respect to our executive officers , see part i of this report on pages 11 - 12 .item 11 .executive compensation for the information required by this item 11 , see 201cexecutive compensation , 201d 201ccompensation committee report on executive compensation 201d and 201ccompensation committee interlocks and insider participation 201d in the proxy statement for our 2015 annual meeting , which information is incorporated herein by reference .item 12 .security ownership of certain beneficial owners and management and related stockholder matters for the information required by this item 12 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 2015 annual meeting , which information is incorporated herein by reference .the following table sets forth certain information as of december 31 , 2014 regarding our equity plans : plan category number of securities to be issued upon exercise of outstanding options , warrants and rights 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 1233672 $ 75.93 4903018 item 13 .certain relationships and related transactions , and director independence for the information required by this item 13 , see 201ccertain transactions 201d and 201ccorporate governance 201d in the proxy statement for our 2015 annual meeting , which information is incorporated herein by reference .item 14 .principal accounting fees and services for the information required by this item 14 , see 201caudit and non-audit fees 201d and 201cpolicy on audit committee pre- approval of audit and non-audit services of independent registered public accounting firm 201d in the proxy statement for our 2015 annual meeting , which information is incorporated herein by reference. .
|
0.252:1
| 1,426 | 305 |
306 |
what is the ratio of short physical contracts to long futures notional contracts?
|
table of contents valero energy corporation and subsidiaries notes to consolidated financial statements ( continued ) cash flow hedges cash flow hedges are used to hedge price volatility in certain forecasted feedstock and refined product purchases , refined product sales , and natural gas purchases .the objective of our cash flow hedges is to lock in the price of forecasted feedstock , product or natural gas purchases or refined product sales at existing market prices that we deem favorable .as of december 31 , 2011 , we had the following outstanding commodity derivative instruments that were entered into to hedge forecasted purchases or sales of crude oil and refined products .the information presents the notional volume of outstanding contracts by type of instrument and year of maturity ( volumes in thousands of barrels ) .notional contract volumes by year of maturity derivative instrument 2012 .
[['derivative instrument', 'notional contract volumes by year of maturity 2012'], ['crude oil and refined products:', ''], ['swaps 2013 long', '5961'], ['swaps 2013 short', '5961'], ['futures 2013 long', '38201'], ['futures 2013 short', '36637'], ['physical contracts 2013 short', '1564']]
.
|
0.041:1
| 305 | 306 |
307 |
if the company were to buy the remaining securities at the average price of $ 34.92 , what would be the total payments from the company?
|
item 11 2014executive compensation we incorporate by reference in this item 11 the information relating to executive and director compensation contained under the headings 201cother information about the board and its committees , 201d 201ccompensation and other benefits 201d and 201creport of the compensation committee 201d from our proxy statement to be delivered in connection with our 2013 annual meeting of shareholders to be held on november 20 , 2013 .item 12 2014security ownership of certain beneficial owners and management and related stockholder matters we incorporate by reference in this item 12 the information relating to ownership of our common stock by certain persons contained under the headings 201ccommon stock ownership of management 201d and 201ccommon stock ownership by certain other persons 201d from our proxy statement to be delivered in connection with our 2013 annual meeting of shareholders to be held on november 20 , 2013 .the following table provides certain information as of may 31 , 2013 concerning the shares of the company 2019s common stock that may be issued under existing equity compensation plans .for more information on these plans , see note 11 to notes to consolidated financial statements .plan category number of securities to be issued upon exercise of outstanding options , warrants and rights 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 ) ) equity compensation plans approved by security holders : 1765510 $ 34.92 7927210 ( 1 ) equity compensation plans not approved by security holders : 2014 2014 2014 .
[['plan category', 'number of securities to be issued upon exercise of outstanding options warrants and rights ( a )', 'weighted-average exerciseprice of outstanding options warrants and rights ( b )', 'number of securitiesremaining available forfuture issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) ( c )', ''], ['equity compensation plans approved by security holders:', '1765510', '$ 34.92', '7927210', '-1 ( 1 )'], ['equity compensation plans not approved by security holders:', '2014', '2014', '2014', ''], ['total', '1765510', '$ 34.92', '7927210', '-1 ( 1 )']]
( 1 ) also includes shares of common stock available for issuance other than upon the exercise of an option , warrant or right under the global payments inc .2000 long-term incentive plan , as amended and restated , the global payments inc .amended and restated 2005 incentive plan , amended and restated 2000 non- employee director stock option plan , global payments employee stock purchase plan and the global payments inc .2011 incentive plan .item 13 2014certain relationships and related transactions , and director independence we incorporate by reference in this item 13 the information regarding certain relationships and related transactions between us and some of our affiliates and the independence of our board of directors contained under the headings 201ccertain relationships and related transactions 201d and 201cother information about the board and its committees 201d from our proxy statement to be delivered in connection with our 2013 annual meeting of shareholders to be held on november 20 , 2013 .item 14 2014principal accounting fees and services we incorporate by reference in this item 14 the information regarding principal accounting fees and services contained under the section ratification of the reappointment of auditors from our proxy statement to be delivered in connection with our 2013 annual meeting of shareholders to be held on november 20 , 2013. .
|
$ 276818173 or $ 276.82 million
| 945 | 307 |
308 |
how much square feet could the company use to build properies ? ( 1 acre = 43560 square feet )
|
item 2 : properties information concerning applied 2019s properties is set forth below: .
[['( square feet in thousands )', 'united states', 'other countries', 'total'], ['owned', '3964', '1652', '5616'], ['leased', '845', '1153', '1998'], ['total', '4809', '2805', '7614']]
because of the interrelation of applied 2019s operations , properties within a country may be shared by the segments operating within that country .the company 2019s headquarters offices are in santa clara , california .products in semiconductor systems are manufactured in santa clara , california ; austin , texas ; gloucester , massachusetts ; kalispell , montana ; rehovot , israel ; and singapore .remanufactured equipment products in the applied global services segment are produced primarily in austin , texas .products in the display and adjacent markets segment are manufactured in alzenau , germany ; and tainan , taiwan .other products are manufactured in 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 269 acres of buildable land in montana , 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. .
|
1.1 million square feet
| 437 | 308 |
309 |
what was the annual average number of liquid securities and other cash considerations?
|
jpmorgan chase & co./2014 annual report 125 lending-related commitments the firm uses lending-related financial instruments , such as commitments ( including revolving credit facilities ) and guarantees , to meet the financing needs of its customers .the contractual amounts of these financial instruments represent the maximum possible credit risk should the counterparties draw down on these commitments or the firm fulfills its obligations under these guarantees , and the counterparties subsequently fail to perform according to the terms of these contracts .in the firm 2019s view , the total contractual amount of these wholesale lending-related commitments is not representative of the firm 2019s actual future credit exposure or funding requirements .in determining the amount of credit risk exposure the firm has to wholesale lending-related commitments , which is used as the basis for allocating credit risk capital to these commitments , the firm has established a 201cloan-equivalent 201d amount for each commitment ; this amount represents the portion of the unused commitment or other contingent exposure that is expected , based on average portfolio historical experience , to become drawn upon in an event of a default by an obligor .the loan-equivalent amount of the firm 2019s lending- related commitments was $ 229.6 billion and $ 218.9 billion as of december 31 , 2014 and 2013 , respectively .clearing services the firm provides clearing services for clients entering into securities and derivative transactions .through the provision of these services the firm is exposed to the risk of non-performance by its clients and may be required to share in losses incurred by central counterparties ( 201cccps 201d ) .where possible , the firm seeks to mitigate its credit risk to its clients through the collection of adequate margin at inception and throughout the life of the transactions and can also cease provision of clearing services if clients do not adhere to their obligations under the clearing agreement .for further discussion of clearing services , see note 29 .derivative contracts in the normal course of business , the firm uses derivative instruments predominantly for market-making activities .derivatives enable customers to manage exposures to fluctuations in interest rates , currencies and other markets .the firm also uses derivative instruments to manage its own credit exposure .the nature of the counterparty and the settlement mechanism of the derivative affect the credit risk to which the firm is exposed .for otc derivatives the firm is exposed to the credit risk of the derivative counterparty .for exchange-traded derivatives ( 201cetd 201d ) such as futures and options , and 201ccleared 201d over-the-counter ( 201cotc-cleared 201d ) derivatives , the firm is generally exposed to the credit risk of the relevant ccp .where possible , the firm seeks to mitigate its credit risk exposures arising from derivative transactions through the use of legally enforceable master netting arrangements and collateral agreements .for further discussion of derivative contracts , counterparties and settlement types , see note 6 .the following table summarizes the net derivative receivables for the periods presented .derivative receivables .
[['december 31 ( in millions )', '2014', '2013'], ['interest rate', '$ 33725', '$ 25782'], ['credit derivatives', '1838', '1516'], ['foreign exchange', '21253', '16790'], ['equity', '8177', '12227'], ['commodity', '13982', '9444'], ['total net of cash collateral', '78975', '65759'], ['liquid securities and other cash collateral held against derivative receivables', '-19604 ( 19604 )', '-14435 ( 14435 )'], ['total net of all collateral', '$ 59371', '$ 51324']]
derivative receivables reported on the consolidated balance sheets were $ 79.0 billion and $ 65.8 billion at december 31 , 2014 and 2013 , respectively .these amounts represent the fair value of the derivative contracts , after giving effect to legally enforceable master netting agreements and cash collateral held by the firm .however , in management 2019s view , the appropriate measure of current credit risk should also take into consideration additional liquid securities ( primarily u.s .government and agency securities and other g7 government bonds ) and other cash collateral held by the firm aggregating $ 19.6 billion and $ 14.4 billion at december 31 , 2014 and 2013 , respectively , that may be used as security when the fair value of the client 2019s exposure is in the firm 2019s favor .in addition to the collateral described in the preceding paragraph , the firm also holds additional collateral ( primarily : cash ; g7 government securities ; other liquid government-agency and guaranteed securities ; and corporate debt and equity securities ) delivered by clients at the initiation of transactions , as well as collateral related to contracts that have a non-daily call frequency and collateral that the firm has agreed to return but has not yet settled as of the reporting date .although this collateral does not reduce the balances and is not included in the table above , it is available as security against potential exposure that could arise should the fair value of the client 2019s derivative transactions move in the firm 2019s favor .as of december 31 , 2014 and 2013 , the firm held $ 48.6 billion and $ 50.8 billion , respectively , of this additional collateral .the prior period amount has been revised to conform with the current period presentation .the derivative receivables fair value , net of all collateral , also does not include other credit enhancements , such as letters of credit .for additional information on the firm 2019s use of collateral agreements , see note 6. .
|
17019.5 million
| 1,321 | 309 |
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