Datasets:

TheFinAI

/

flare-convfinqa

like 1

Follow

The Fin AI 51

convfinqa1100

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: the aeronautics segment generally includes fewer programs that have much larger sales and operating results than programs included in the other segments . due to the large number of comparatively smaller programs in the remaining segments , the discussion of the results of operations of those business segments focuses on lines of business within the segment rather than on specific programs . the following tables of financial information and related discussion of the results of operations of our business segments are consistent with the presentation of segment information in note 5 to the financial statements . we have a number of programs that are classified by the u.s . government and cannot be specifically described . the operating results of these classified programs are included in our consolidated and business segment results , and are subjected to the same oversight and internal controls as our other programs . aeronautics our aeronautics business segment is engaged in the research , design , development , manufacture , integration , sustainment , support , and upgrade of advanced military aircraft , including combat and air mobility aircraft , unmanned air vehicles , and related technologies . key combat aircraft programs include the f-35 lightning ii , f-16 fighting falcon , and f-22 raptor fighter aircraft . key air mobility programs include the c-130j super hercules and the c-5m super galaxy . aeronautics provides logistics support , sustainment , and upgrade modification services for its aircraft . aeronautics 2019 operating results included the following : ( in millions ) 2010 2009 2008 . <table class='wikitable'><tr><td>1</td><td>( in millions )</td><td>2010</td><td>2009</td><td>2008</td></tr><tr><td>2</td><td>net sales</td><td>$ 13235</td><td>$ 12201</td><td>$ 11473</td></tr><tr><td>3</td><td>operating profit</td><td>1502</td><td>1577</td><td>1433</td></tr><tr><td>4</td><td>operating margin</td><td>11.3% ( 11.3 % )</td><td>12.9% ( 12.9 % )</td><td>12.5% ( 12.5 % )</td></tr><tr><td>5</td><td>backlog at year-end</td><td>27500</td><td>26700</td><td>27200</td></tr></table> net sales for aeronautics increased by 8% ( 8 % ) in 2010 compared to 2009 . sales increased in all three lines of business during the year . the $ 800 million increase in air mobility primarily was attributable to higher volume on c-130 programs , including deliveries and support activities , as well as higher volume on the c-5 reliability enhancement and re-engining program ( rerp ) . there were 25 c-130j deliveries in 2010 compared to 16 in 2009 . the $ 179 million increase in combat aircraft principally was due to higher volume on f-35 production contracts , which partially was offset by lower volume on the f-35 sdd contract and a decline in volume on f-16 , f-22 and other combat aircraft programs . there were 20 f-16 deliveries in 2010 compared to 31 in 2009 . the $ 55 million increase in other aeronautics programs mainly was due to higher volume on p-3 and advanced development programs , which partially were offset by a decline in volume on sustainment activities . net sales for aeronautics increased by 6% ( 6 % ) in 2009 compared to 2008 . during the year , sales increased in all three lines of business . the increase of $ 296 million in air mobility 2019s sales primarily was attributable to higher volume on the c-130 programs , including deliveries and support activities . there were 16 c-130j deliveries in 2009 and 12 in 2008 . combat aircraft sales increased $ 316 million principally due to higher volume on the f-35 program and increases in f-16 deliveries , which partially were offset by lower volume on f-22 and other combat aircraft programs . there were 31 f-16 deliveries in 2009 compared to 28 in 2008 . the $ 116 million increase in other aeronautics programs mainly was due to higher volume on p-3 programs and advanced development programs , which partially were offset by declines in sustainment activities . operating profit for the segment decreased by 5% ( 5 % ) in 2010 compared to 2009 . a decline in operating profit in combat aircraft partially was offset by increases in other aeronautics programs and air mobility . the $ 149 million decrease in combat aircraft 2019s operating profit primarily was due to lower volume and a decrease in the level of favorable performance adjustments on the f-22 program , the f-35 sdd contract and f-16 and other combat aircraft programs in 2010 . these decreases more than offset increased operating profit resulting from higher volume and improved performance on f-35 production contracts in 2010 . the $ 35 million increase in other aeronautics programs mainly was attributable to higher volume and improved performance on p-3 and advanced development programs as well as an increase in the level of favorable performance adjustments on sustainment activities in 2010 . the $ 19 million increase in air mobility operating profit primarily was due to higher volume and improved performance in 2010 on c-130j support activities , which more than offset a decrease in operating profit due to a lower level of favorable performance adjustments on c-130j deliveries in 2010 . the remaining change in operating profit is attributable to an increase in other income , net between the comparable periods . aeronautics 2019 2010 operating margins have decreased when compared to 2009 . the operating margin decrease reflects the life cycles of our significant programs . specifically , aeronautics is performing more development and initial production work on the f-35 program and is performing less work on more mature programs such as the f-22 and f-16 . development and initial production contracts yield lower profits than mature full rate programs . accordingly , while net sales increased in 2010 relative to 2009 , operating profit decreased and consequently operating margins have declined. . Conversations: q0: what what the net change in operating income from 2009 to 2010? -75.0 q1: what was the value in 2009? 1577.0 Question: what is the percent change? Answer:

-0.04756

convfinqa1101

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: supplemental pro forma financial information ( unaudited ) the following table presents summarized unaudited pro forma financial information as if sikorsky had been included in our financial results for the entire year in 2015 ( in millions ) : . <table class='wikitable'><tr><td>1</td><td>net sales</td><td>$ 45366</td></tr><tr><td>2</td><td>net earnings</td><td>3534</td></tr><tr><td>3</td><td>basic earnings per common share</td><td>11.39</td></tr><tr><td>4</td><td>diluted earnings per common share</td><td>11.23</td></tr></table> the unaudited supplemental pro forma financial data above has been calculated after applying our accounting policies and adjusting the historical results of sikorskywith pro forma adjustments , net of tax , that assume the acquisition occurred on january 1 , 2015 . significant pro forma adjustments include the recognition of additional amortization expense related to acquired intangible assets and additional interest expense related to the short-term debt used to finance the acquisition . these adjustments assume the application of fair value adjustments to intangibles and the debt issuance occurred on january 1 , 2015 and are approximated as follows : amortization expense of $ 125million and interest expense of $ 40million . in addition , significant nonrecurring adjustments include the elimination of a $ 72million pension curtailment loss , net of tax , recognized in 2015 and the elimination of a $ 58 million income tax charge related to historic earnings of foreign subsidiaries recognized by sikorsky in 2015 . the unaudited supplemental pro forma financial information also reflects an increase in interest expense , net of tax , of approximately $ 110 million in 2015 . the increase in interest expense is the result of assuming the november 2015 notes were issued on january 1 , 2015 . proceeds of the november 2015 notes were used to repay all outstanding borrowings under the 364- day facility used to finance a portion of the purchase price of sikorsky , as contemplated at the date of acquisition . the unaudited supplemental pro forma financial information does not reflect the realization of any expected ongoing cost or revenue synergies relating to the integration of the two companies . further , the pro forma data should not be considered indicative of the results that would have occurred if the acquisition , related financing and associated notes issuance and repayment of the 364-day facility had been consummated on january 1 , 2015 , nor are they indicative of future results . consolidation of awemanagement limited on august 24 , 2016 , we increased our ownership interest in the awe joint venture , which operates the united kingdom 2019s nuclear deterrent program , from 33% ( 33 % ) to 51% ( 51 % ) . at which time , we began consolidating awe . consequently , our operating results include 100% ( 100 % ) of awe 2019s sales and 51% ( 51 % ) of its operating profit . prior to increasing our ownership interest , we accounted for our investment inawe using the equity method of accounting . under the equity method , we recognized only 33% ( 33 % ) ofawe 2019s earnings or losses and no sales.accordingly , prior toaugust 24 , 2016 , the date we obtained control , we recorded 33%ofawe 2019s net earnings in our operating results and subsequent to august 24 , 2016 , we recognized 100% ( 100 % ) of awe 2019s sales and 51% ( 51 % ) of its operating profit . we accounted for this transaction as a 201cstep acquisition 201d ( as defined by u.s . gaap ) , which requires us to consolidate and record the assets and liabilities ofawe at fair value.accordingly , we recorded intangible assets of $ 243million related to customer relationships , $ 32 million of net liabilities , and noncontrolling interests of $ 107 million . the intangible assets are being amortized over a period of eight years in accordance with the underlying pattern of economic benefit reflected by the future net cash flows . in 2016we recognized a non-cash net gain of $ 104million associatedwith obtaining a controlling interest inawewhich consisted of a $ 127 million pretax gain recognized in the operating results of our space business segment and $ 23 million of tax-related items at our corporate office . the gain represents the fair value of our 51% ( 51 % ) interest inawe , less the carrying value of our previously held investment inawe and deferred taxes . the gainwas recorded in other income , net on our consolidated statements of earnings . the fair value ofawe ( including the intangible assets ) , our controlling interest , and the noncontrolling interests were determined using the income approach . divestiture of the information systems & global solutions business onaugust 16 , 2016wedivested our former is&gsbusinesswhichmergedwithleidos , in areversemorristrust transactionrr ( the 201ctransaction 201d ) . the transaction was completed in a multi-step process pursuant to which we initially contributed the is&gs business to abacus innovations corporation ( abacus ) , a wholly owned subsidiary of lockheed martin created to facilitate the transaction , and the common stock ofabacus was distributed to participating lockheedmartin stockholders through an exchange offer . under the terms of the exchange offer , lockheedmartin stockholders had the option to exchange shares of lockheedmartin common stock for shares of abacus common stock . at the conclusion of the exchange offer , all shares of abacus common stock were exchanged for 9369694 shares of lockheed martin common stock held by lockheed martin stockholders that elected to participate in the exchange.the shares of lockheedmartin common stock thatwere exchanged and acceptedwere retired , reducing the number of shares of our common stock outstanding by approximately 3% ( 3 % ) . following the exchange offer , abacus merged with . Conversations: Question: what is the net earnings in 2015? Answer:

3534.0

convfinqa1102

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: supplemental pro forma financial information ( unaudited ) the following table presents summarized unaudited pro forma financial information as if sikorsky had been included in our financial results for the entire year in 2015 ( in millions ) : . <table class='wikitable'><tr><td>1</td><td>net sales</td><td>$ 45366</td></tr><tr><td>2</td><td>net earnings</td><td>3534</td></tr><tr><td>3</td><td>basic earnings per common share</td><td>11.39</td></tr><tr><td>4</td><td>diluted earnings per common share</td><td>11.23</td></tr></table> the unaudited supplemental pro forma financial data above has been calculated after applying our accounting policies and adjusting the historical results of sikorskywith pro forma adjustments , net of tax , that assume the acquisition occurred on january 1 , 2015 . significant pro forma adjustments include the recognition of additional amortization expense related to acquired intangible assets and additional interest expense related to the short-term debt used to finance the acquisition . these adjustments assume the application of fair value adjustments to intangibles and the debt issuance occurred on january 1 , 2015 and are approximated as follows : amortization expense of $ 125million and interest expense of $ 40million . in addition , significant nonrecurring adjustments include the elimination of a $ 72million pension curtailment loss , net of tax , recognized in 2015 and the elimination of a $ 58 million income tax charge related to historic earnings of foreign subsidiaries recognized by sikorsky in 2015 . the unaudited supplemental pro forma financial information also reflects an increase in interest expense , net of tax , of approximately $ 110 million in 2015 . the increase in interest expense is the result of assuming the november 2015 notes were issued on january 1 , 2015 . proceeds of the november 2015 notes were used to repay all outstanding borrowings under the 364- day facility used to finance a portion of the purchase price of sikorsky , as contemplated at the date of acquisition . the unaudited supplemental pro forma financial information does not reflect the realization of any expected ongoing cost or revenue synergies relating to the integration of the two companies . further , the pro forma data should not be considered indicative of the results that would have occurred if the acquisition , related financing and associated notes issuance and repayment of the 364-day facility had been consummated on january 1 , 2015 , nor are they indicative of future results . consolidation of awemanagement limited on august 24 , 2016 , we increased our ownership interest in the awe joint venture , which operates the united kingdom 2019s nuclear deterrent program , from 33% ( 33 % ) to 51% ( 51 % ) . at which time , we began consolidating awe . consequently , our operating results include 100% ( 100 % ) of awe 2019s sales and 51% ( 51 % ) of its operating profit . prior to increasing our ownership interest , we accounted for our investment inawe using the equity method of accounting . under the equity method , we recognized only 33% ( 33 % ) ofawe 2019s earnings or losses and no sales.accordingly , prior toaugust 24 , 2016 , the date we obtained control , we recorded 33%ofawe 2019s net earnings in our operating results and subsequent to august 24 , 2016 , we recognized 100% ( 100 % ) of awe 2019s sales and 51% ( 51 % ) of its operating profit . we accounted for this transaction as a 201cstep acquisition 201d ( as defined by u.s . gaap ) , which requires us to consolidate and record the assets and liabilities ofawe at fair value.accordingly , we recorded intangible assets of $ 243million related to customer relationships , $ 32 million of net liabilities , and noncontrolling interests of $ 107 million . the intangible assets are being amortized over a period of eight years in accordance with the underlying pattern of economic benefit reflected by the future net cash flows . in 2016we recognized a non-cash net gain of $ 104million associatedwith obtaining a controlling interest inawewhich consisted of a $ 127 million pretax gain recognized in the operating results of our space business segment and $ 23 million of tax-related items at our corporate office . the gain represents the fair value of our 51% ( 51 % ) interest inawe , less the carrying value of our previously held investment inawe and deferred taxes . the gainwas recorded in other income , net on our consolidated statements of earnings . the fair value ofawe ( including the intangible assets ) , our controlling interest , and the noncontrolling interests were determined using the income approach . divestiture of the information systems & global solutions business onaugust 16 , 2016wedivested our former is&gsbusinesswhichmergedwithleidos , in areversemorristrust transactionrr ( the 201ctransaction 201d ) . the transaction was completed in a multi-step process pursuant to which we initially contributed the is&gs business to abacus innovations corporation ( abacus ) , a wholly owned subsidiary of lockheed martin created to facilitate the transaction , and the common stock ofabacus was distributed to participating lockheedmartin stockholders through an exchange offer . under the terms of the exchange offer , lockheedmartin stockholders had the option to exchange shares of lockheedmartin common stock for shares of abacus common stock . at the conclusion of the exchange offer , all shares of abacus common stock were exchanged for 9369694 shares of lockheed martin common stock held by lockheed martin stockholders that elected to participate in the exchange.the shares of lockheedmartin common stock thatwere exchanged and acceptedwere retired , reducing the number of shares of our common stock outstanding by approximately 3% ( 3 % ) . following the exchange offer , abacus merged with . Conversations: q0: what is the net earnings in 2015? 3534.0 Question: what about the total sales? Answer:

45366.0

convfinqa1103

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: supplemental pro forma financial information ( unaudited ) the following table presents summarized unaudited pro forma financial information as if sikorsky had been included in our financial results for the entire year in 2015 ( in millions ) : . <table class='wikitable'><tr><td>1</td><td>net sales</td><td>$ 45366</td></tr><tr><td>2</td><td>net earnings</td><td>3534</td></tr><tr><td>3</td><td>basic earnings per common share</td><td>11.39</td></tr><tr><td>4</td><td>diluted earnings per common share</td><td>11.23</td></tr></table> the unaudited supplemental pro forma financial data above has been calculated after applying our accounting policies and adjusting the historical results of sikorskywith pro forma adjustments , net of tax , that assume the acquisition occurred on january 1 , 2015 . significant pro forma adjustments include the recognition of additional amortization expense related to acquired intangible assets and additional interest expense related to the short-term debt used to finance the acquisition . these adjustments assume the application of fair value adjustments to intangibles and the debt issuance occurred on january 1 , 2015 and are approximated as follows : amortization expense of $ 125million and interest expense of $ 40million . in addition , significant nonrecurring adjustments include the elimination of a $ 72million pension curtailment loss , net of tax , recognized in 2015 and the elimination of a $ 58 million income tax charge related to historic earnings of foreign subsidiaries recognized by sikorsky in 2015 . the unaudited supplemental pro forma financial information also reflects an increase in interest expense , net of tax , of approximately $ 110 million in 2015 . the increase in interest expense is the result of assuming the november 2015 notes were issued on january 1 , 2015 . proceeds of the november 2015 notes were used to repay all outstanding borrowings under the 364- day facility used to finance a portion of the purchase price of sikorsky , as contemplated at the date of acquisition . the unaudited supplemental pro forma financial information does not reflect the realization of any expected ongoing cost or revenue synergies relating to the integration of the two companies . further , the pro forma data should not be considered indicative of the results that would have occurred if the acquisition , related financing and associated notes issuance and repayment of the 364-day facility had been consummated on january 1 , 2015 , nor are they indicative of future results . consolidation of awemanagement limited on august 24 , 2016 , we increased our ownership interest in the awe joint venture , which operates the united kingdom 2019s nuclear deterrent program , from 33% ( 33 % ) to 51% ( 51 % ) . at which time , we began consolidating awe . consequently , our operating results include 100% ( 100 % ) of awe 2019s sales and 51% ( 51 % ) of its operating profit . prior to increasing our ownership interest , we accounted for our investment inawe using the equity method of accounting . under the equity method , we recognized only 33% ( 33 % ) ofawe 2019s earnings or losses and no sales.accordingly , prior toaugust 24 , 2016 , the date we obtained control , we recorded 33%ofawe 2019s net earnings in our operating results and subsequent to august 24 , 2016 , we recognized 100% ( 100 % ) of awe 2019s sales and 51% ( 51 % ) of its operating profit . we accounted for this transaction as a 201cstep acquisition 201d ( as defined by u.s . gaap ) , which requires us to consolidate and record the assets and liabilities ofawe at fair value.accordingly , we recorded intangible assets of $ 243million related to customer relationships , $ 32 million of net liabilities , and noncontrolling interests of $ 107 million . the intangible assets are being amortized over a period of eight years in accordance with the underlying pattern of economic benefit reflected by the future net cash flows . in 2016we recognized a non-cash net gain of $ 104million associatedwith obtaining a controlling interest inawewhich consisted of a $ 127 million pretax gain recognized in the operating results of our space business segment and $ 23 million of tax-related items at our corporate office . the gain represents the fair value of our 51% ( 51 % ) interest inawe , less the carrying value of our previously held investment inawe and deferred taxes . the gainwas recorded in other income , net on our consolidated statements of earnings . the fair value ofawe ( including the intangible assets ) , our controlling interest , and the noncontrolling interests were determined using the income approach . divestiture of the information systems & global solutions business onaugust 16 , 2016wedivested our former is&gsbusinesswhichmergedwithleidos , in areversemorristrust transactionrr ( the 201ctransaction 201d ) . the transaction was completed in a multi-step process pursuant to which we initially contributed the is&gs business to abacus innovations corporation ( abacus ) , a wholly owned subsidiary of lockheed martin created to facilitate the transaction , and the common stock ofabacus was distributed to participating lockheedmartin stockholders through an exchange offer . under the terms of the exchange offer , lockheedmartin stockholders had the option to exchange shares of lockheedmartin common stock for shares of abacus common stock . at the conclusion of the exchange offer , all shares of abacus common stock were exchanged for 9369694 shares of lockheed martin common stock held by lockheed martin stockholders that elected to participate in the exchange.the shares of lockheedmartin common stock thatwere exchanged and acceptedwere retired , reducing the number of shares of our common stock outstanding by approximately 3% ( 3 % ) . following the exchange offer , abacus merged with . Conversations: q0: what is the net earnings in 2015? 3534.0 q1: what about the total sales? 45366.0 Question: what net margin does this represent? Answer:

0.0779

convfinqa1104

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: supplemental pro forma financial information ( unaudited ) the following table presents summarized unaudited pro forma financial information as if sikorsky had been included in our financial results for the entire year in 2015 ( in millions ) : . <table class='wikitable'><tr><td>1</td><td>net sales</td><td>$ 45366</td></tr><tr><td>2</td><td>net earnings</td><td>3534</td></tr><tr><td>3</td><td>basic earnings per common share</td><td>11.39</td></tr><tr><td>4</td><td>diluted earnings per common share</td><td>11.23</td></tr></table> the unaudited supplemental pro forma financial data above has been calculated after applying our accounting policies and adjusting the historical results of sikorskywith pro forma adjustments , net of tax , that assume the acquisition occurred on january 1 , 2015 . significant pro forma adjustments include the recognition of additional amortization expense related to acquired intangible assets and additional interest expense related to the short-term debt used to finance the acquisition . these adjustments assume the application of fair value adjustments to intangibles and the debt issuance occurred on january 1 , 2015 and are approximated as follows : amortization expense of $ 125million and interest expense of $ 40million . in addition , significant nonrecurring adjustments include the elimination of a $ 72million pension curtailment loss , net of tax , recognized in 2015 and the elimination of a $ 58 million income tax charge related to historic earnings of foreign subsidiaries recognized by sikorsky in 2015 . the unaudited supplemental pro forma financial information also reflects an increase in interest expense , net of tax , of approximately $ 110 million in 2015 . the increase in interest expense is the result of assuming the november 2015 notes were issued on january 1 , 2015 . proceeds of the november 2015 notes were used to repay all outstanding borrowings under the 364- day facility used to finance a portion of the purchase price of sikorsky , as contemplated at the date of acquisition . the unaudited supplemental pro forma financial information does not reflect the realization of any expected ongoing cost or revenue synergies relating to the integration of the two companies . further , the pro forma data should not be considered indicative of the results that would have occurred if the acquisition , related financing and associated notes issuance and repayment of the 364-day facility had been consummated on january 1 , 2015 , nor are they indicative of future results . consolidation of awemanagement limited on august 24 , 2016 , we increased our ownership interest in the awe joint venture , which operates the united kingdom 2019s nuclear deterrent program , from 33% ( 33 % ) to 51% ( 51 % ) . at which time , we began consolidating awe . consequently , our operating results include 100% ( 100 % ) of awe 2019s sales and 51% ( 51 % ) of its operating profit . prior to increasing our ownership interest , we accounted for our investment inawe using the equity method of accounting . under the equity method , we recognized only 33% ( 33 % ) ofawe 2019s earnings or losses and no sales.accordingly , prior toaugust 24 , 2016 , the date we obtained control , we recorded 33%ofawe 2019s net earnings in our operating results and subsequent to august 24 , 2016 , we recognized 100% ( 100 % ) of awe 2019s sales and 51% ( 51 % ) of its operating profit . we accounted for this transaction as a 201cstep acquisition 201d ( as defined by u.s . gaap ) , which requires us to consolidate and record the assets and liabilities ofawe at fair value.accordingly , we recorded intangible assets of $ 243million related to customer relationships , $ 32 million of net liabilities , and noncontrolling interests of $ 107 million . the intangible assets are being amortized over a period of eight years in accordance with the underlying pattern of economic benefit reflected by the future net cash flows . in 2016we recognized a non-cash net gain of $ 104million associatedwith obtaining a controlling interest inawewhich consisted of a $ 127 million pretax gain recognized in the operating results of our space business segment and $ 23 million of tax-related items at our corporate office . the gain represents the fair value of our 51% ( 51 % ) interest inawe , less the carrying value of our previously held investment inawe and deferred taxes . the gainwas recorded in other income , net on our consolidated statements of earnings . the fair value ofawe ( including the intangible assets ) , our controlling interest , and the noncontrolling interests were determined using the income approach . divestiture of the information systems & global solutions business onaugust 16 , 2016wedivested our former is&gsbusinesswhichmergedwithleidos , in areversemorristrust transactionrr ( the 201ctransaction 201d ) . the transaction was completed in a multi-step process pursuant to which we initially contributed the is&gs business to abacus innovations corporation ( abacus ) , a wholly owned subsidiary of lockheed martin created to facilitate the transaction , and the common stock ofabacus was distributed to participating lockheedmartin stockholders through an exchange offer . under the terms of the exchange offer , lockheedmartin stockholders had the option to exchange shares of lockheedmartin common stock for shares of abacus common stock . at the conclusion of the exchange offer , all shares of abacus common stock were exchanged for 9369694 shares of lockheed martin common stock held by lockheed martin stockholders that elected to participate in the exchange.the shares of lockheedmartin common stock thatwere exchanged and acceptedwere retired , reducing the number of shares of our common stock outstanding by approximately 3% ( 3 % ) . following the exchange offer , abacus merged with . Conversations: q0: what is the net earnings in 2015? 3534.0 q1: what about the total sales? 45366.0 q2: what net margin does this represent? 0.0779 Question: what is the effective tax rate related to the recognized a non-cash net gain from obtaining a controlling interest in awe? Answer:

0.1811

convfinqa1105

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: interest-earning assets including unearned income in the accretion of fair value adjustments on discounts recognized on acquired or purchased loans is recognized based on the constant effective yield of the financial instrument . the timing and amount of revenue that we recognize in any period is dependent on estimates , judgments , assumptions , and interpretation of contractual terms . changes in these factors can have a significant impact on revenue recognized in any period due to changes in products , market conditions or industry norms . residential and commercial mortgage servicing rights we elect to measure our residential mortgage servicing rights ( msrs ) at fair value . this election was made to be consistent with our risk management strategy to hedge changes in the fair value of these assets as described below . the fair value of residential msrs is estimated by using a cash flow valuation model which calculates the present value of estimated future net servicing cash flows , taking into consideration actual and expected mortgage loan prepayment rates , discount rates , servicing costs , and other economic factors which are determined based on current market conditions . assumptions incorporated into the residential msrs valuation model reflect management 2019s best estimate of factors that a market participant would use in valuing the residential msrs . although sales of residential msrs do occur , residential msrs do not trade in an active market with readily observable prices so the precise terms and conditions of sales are not available . as a benchmark for the reasonableness of its residential msrs fair value , pnc obtains opinions of value from independent parties ( 201cbrokers 201d ) . these brokers provided a range ( +/- 10 bps ) based upon their own discounted cash flow calculations of our portfolio that reflected conditions in the secondary market , and any recently executed servicing transactions . pnc compares its internally-developed residential msrs value to the ranges of values received from the brokers . if our residential msrs fair value falls outside of the brokers 2019 ranges , management will assess whether a valuation adjustment is warranted . for 2011 and 2010 , pnc 2019s residential msrs value has not fallen outside of the brokers 2019 ranges . we consider our residential msrs value to represent a reasonable estimate of fair value . commercial msrs are purchased or originated when loans are sold with servicing retained . commercial msrs do not trade in an active market with readily observable prices so the precise terms and conditions of sales are not available . commercial msrs are initially recorded at fair value and are subsequently accounted for at the lower of amortized cost or fair value . commercial msrs are periodically evaluated for impairment . for purposes of impairment , the commercial mortgage servicing rights are stratified based on asset type , which characterizes the predominant risk of the underlying financial asset . the fair value of commercial msrs is estimated by using an internal valuation model . the model calculates the present value of estimated future net servicing cash flows considering estimates of servicing revenue and costs , discount rates and prepayment speeds . pnc employs risk management strategies designed to protect the value of msrs from changes in interest rates and related market factors . residential msrs values are economically hedged with securities and derivatives , including interest-rate swaps , options , and forward mortgage-backed and futures contracts . as interest rates change , these financial instruments are expected to have changes in fair value negatively correlated to the change in fair value of the hedged residential msrs portfolio . the hedge relationships are actively managed in response to changing market conditions over the life of the residential msrs assets . commercial msrs are economically hedged at a macro level or with specific derivatives to protect against a significant decline in interest rates . selecting appropriate financial instruments to economically hedge residential or commercial msrs requires significant management judgment to assess how mortgage rates and prepayment speeds could affect the future values of msrs . hedging results can frequently be less predictable in the short term , but over longer periods of time are expected to protect the economic value of the msrs . the fair value of residential and commercial msrs and significant inputs to the valuation model as of december 31 , 2011 are shown in the tables below . the expected and actual rates of mortgage loan prepayments are significant factors driving the fair value . management uses a third-party model to estimate future residential loan prepayments and internal proprietary models to estimate future commercial loan prepayments . these models have been refined based on current market conditions . future interest rates are another important factor in the valuation of msrs . management utilizes market implied forward interest rates to estimate the future direction of mortgage and discount rates . the forward rates utilized are derived from the current yield curve for u.s . dollar interest rate swaps and are consistent with pricing of capital markets instruments . changes in the shape and slope of the forward curve in future periods may result in volatility in the fair value estimate . residential mortgage servicing rights dollars in millions december 31 december 31 . <table class='wikitable'><tr><td>1</td><td>dollars in millions</td><td>december 31 2011</td><td>december 312010</td></tr><tr><td>2</td><td>fair value</td><td>$ 647</td><td>$ 1033</td></tr><tr><td>3</td><td>weighted-average life ( in years ) ( a )</td><td>3.6</td><td>5.8</td></tr><tr><td>4</td><td>weighted-average constant prepayment rate ( a )</td><td>22.10% ( 22.10 % )</td><td>12.61% ( 12.61 % )</td></tr><tr><td>5</td><td>weighted-average option adjusted spread</td><td>11.77% ( 11.77 % )</td><td>12.18% ( 12.18 % )</td></tr></table> weighted-average constant prepayment rate ( a ) 22.10% ( 22.10 % ) 12.61% ( 12.61 % ) weighted-average option adjusted spread 11.77% ( 11.77 % ) 12.18% ( 12.18 % ) ( a ) changes in weighted-average life and weighted-average constant prepayment rate reflect the cumulative impact of changes in rates , prepayment expectations and model changes . the pnc financial services group , inc . 2013 form 10-k 65 . Conversations: Question: what was the fair value of residual mortgage rates in 2010? Answer:

1033.0

convfinqa1106

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: interest-earning assets including unearned income in the accretion of fair value adjustments on discounts recognized on acquired or purchased loans is recognized based on the constant effective yield of the financial instrument . the timing and amount of revenue that we recognize in any period is dependent on estimates , judgments , assumptions , and interpretation of contractual terms . changes in these factors can have a significant impact on revenue recognized in any period due to changes in products , market conditions or industry norms . residential and commercial mortgage servicing rights we elect to measure our residential mortgage servicing rights ( msrs ) at fair value . this election was made to be consistent with our risk management strategy to hedge changes in the fair value of these assets as described below . the fair value of residential msrs is estimated by using a cash flow valuation model which calculates the present value of estimated future net servicing cash flows , taking into consideration actual and expected mortgage loan prepayment rates , discount rates , servicing costs , and other economic factors which are determined based on current market conditions . assumptions incorporated into the residential msrs valuation model reflect management 2019s best estimate of factors that a market participant would use in valuing the residential msrs . although sales of residential msrs do occur , residential msrs do not trade in an active market with readily observable prices so the precise terms and conditions of sales are not available . as a benchmark for the reasonableness of its residential msrs fair value , pnc obtains opinions of value from independent parties ( 201cbrokers 201d ) . these brokers provided a range ( +/- 10 bps ) based upon their own discounted cash flow calculations of our portfolio that reflected conditions in the secondary market , and any recently executed servicing transactions . pnc compares its internally-developed residential msrs value to the ranges of values received from the brokers . if our residential msrs fair value falls outside of the brokers 2019 ranges , management will assess whether a valuation adjustment is warranted . for 2011 and 2010 , pnc 2019s residential msrs value has not fallen outside of the brokers 2019 ranges . we consider our residential msrs value to represent a reasonable estimate of fair value . commercial msrs are purchased or originated when loans are sold with servicing retained . commercial msrs do not trade in an active market with readily observable prices so the precise terms and conditions of sales are not available . commercial msrs are initially recorded at fair value and are subsequently accounted for at the lower of amortized cost or fair value . commercial msrs are periodically evaluated for impairment . for purposes of impairment , the commercial mortgage servicing rights are stratified based on asset type , which characterizes the predominant risk of the underlying financial asset . the fair value of commercial msrs is estimated by using an internal valuation model . the model calculates the present value of estimated future net servicing cash flows considering estimates of servicing revenue and costs , discount rates and prepayment speeds . pnc employs risk management strategies designed to protect the value of msrs from changes in interest rates and related market factors . residential msrs values are economically hedged with securities and derivatives , including interest-rate swaps , options , and forward mortgage-backed and futures contracts . as interest rates change , these financial instruments are expected to have changes in fair value negatively correlated to the change in fair value of the hedged residential msrs portfolio . the hedge relationships are actively managed in response to changing market conditions over the life of the residential msrs assets . commercial msrs are economically hedged at a macro level or with specific derivatives to protect against a significant decline in interest rates . selecting appropriate financial instruments to economically hedge residential or commercial msrs requires significant management judgment to assess how mortgage rates and prepayment speeds could affect the future values of msrs . hedging results can frequently be less predictable in the short term , but over longer periods of time are expected to protect the economic value of the msrs . the fair value of residential and commercial msrs and significant inputs to the valuation model as of december 31 , 2011 are shown in the tables below . the expected and actual rates of mortgage loan prepayments are significant factors driving the fair value . management uses a third-party model to estimate future residential loan prepayments and internal proprietary models to estimate future commercial loan prepayments . these models have been refined based on current market conditions . future interest rates are another important factor in the valuation of msrs . management utilizes market implied forward interest rates to estimate the future direction of mortgage and discount rates . the forward rates utilized are derived from the current yield curve for u.s . dollar interest rate swaps and are consistent with pricing of capital markets instruments . changes in the shape and slope of the forward curve in future periods may result in volatility in the fair value estimate . residential mortgage servicing rights dollars in millions december 31 december 31 . <table class='wikitable'><tr><td>1</td><td>dollars in millions</td><td>december 31 2011</td><td>december 312010</td></tr><tr><td>2</td><td>fair value</td><td>$ 647</td><td>$ 1033</td></tr><tr><td>3</td><td>weighted-average life ( in years ) ( a )</td><td>3.6</td><td>5.8</td></tr><tr><td>4</td><td>weighted-average constant prepayment rate ( a )</td><td>22.10% ( 22.10 % )</td><td>12.61% ( 12.61 % )</td></tr><tr><td>5</td><td>weighted-average option adjusted spread</td><td>11.77% ( 11.77 % )</td><td>12.18% ( 12.18 % )</td></tr></table> weighted-average constant prepayment rate ( a ) 22.10% ( 22.10 % ) 12.61% ( 12.61 % ) weighted-average option adjusted spread 11.77% ( 11.77 % ) 12.18% ( 12.18 % ) ( a ) changes in weighted-average life and weighted-average constant prepayment rate reflect the cumulative impact of changes in rates , prepayment expectations and model changes . the pnc financial services group , inc . 2013 form 10-k 65 . Conversations: q0: what was the fair value of residual mortgage rates in 2010? 1033.0 Question: what was the value in 2011? Answer:

647.0

convfinqa1107

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: interest-earning assets including unearned income in the accretion of fair value adjustments on discounts recognized on acquired or purchased loans is recognized based on the constant effective yield of the financial instrument . the timing and amount of revenue that we recognize in any period is dependent on estimates , judgments , assumptions , and interpretation of contractual terms . changes in these factors can have a significant impact on revenue recognized in any period due to changes in products , market conditions or industry norms . residential and commercial mortgage servicing rights we elect to measure our residential mortgage servicing rights ( msrs ) at fair value . this election was made to be consistent with our risk management strategy to hedge changes in the fair value of these assets as described below . the fair value of residential msrs is estimated by using a cash flow valuation model which calculates the present value of estimated future net servicing cash flows , taking into consideration actual and expected mortgage loan prepayment rates , discount rates , servicing costs , and other economic factors which are determined based on current market conditions . assumptions incorporated into the residential msrs valuation model reflect management 2019s best estimate of factors that a market participant would use in valuing the residential msrs . although sales of residential msrs do occur , residential msrs do not trade in an active market with readily observable prices so the precise terms and conditions of sales are not available . as a benchmark for the reasonableness of its residential msrs fair value , pnc obtains opinions of value from independent parties ( 201cbrokers 201d ) . these brokers provided a range ( +/- 10 bps ) based upon their own discounted cash flow calculations of our portfolio that reflected conditions in the secondary market , and any recently executed servicing transactions . pnc compares its internally-developed residential msrs value to the ranges of values received from the brokers . if our residential msrs fair value falls outside of the brokers 2019 ranges , management will assess whether a valuation adjustment is warranted . for 2011 and 2010 , pnc 2019s residential msrs value has not fallen outside of the brokers 2019 ranges . we consider our residential msrs value to represent a reasonable estimate of fair value . commercial msrs are purchased or originated when loans are sold with servicing retained . commercial msrs do not trade in an active market with readily observable prices so the precise terms and conditions of sales are not available . commercial msrs are initially recorded at fair value and are subsequently accounted for at the lower of amortized cost or fair value . commercial msrs are periodically evaluated for impairment . for purposes of impairment , the commercial mortgage servicing rights are stratified based on asset type , which characterizes the predominant risk of the underlying financial asset . the fair value of commercial msrs is estimated by using an internal valuation model . the model calculates the present value of estimated future net servicing cash flows considering estimates of servicing revenue and costs , discount rates and prepayment speeds . pnc employs risk management strategies designed to protect the value of msrs from changes in interest rates and related market factors . residential msrs values are economically hedged with securities and derivatives , including interest-rate swaps , options , and forward mortgage-backed and futures contracts . as interest rates change , these financial instruments are expected to have changes in fair value negatively correlated to the change in fair value of the hedged residential msrs portfolio . the hedge relationships are actively managed in response to changing market conditions over the life of the residential msrs assets . commercial msrs are economically hedged at a macro level or with specific derivatives to protect against a significant decline in interest rates . selecting appropriate financial instruments to economically hedge residential or commercial msrs requires significant management judgment to assess how mortgage rates and prepayment speeds could affect the future values of msrs . hedging results can frequently be less predictable in the short term , but over longer periods of time are expected to protect the economic value of the msrs . the fair value of residential and commercial msrs and significant inputs to the valuation model as of december 31 , 2011 are shown in the tables below . the expected and actual rates of mortgage loan prepayments are significant factors driving the fair value . management uses a third-party model to estimate future residential loan prepayments and internal proprietary models to estimate future commercial loan prepayments . these models have been refined based on current market conditions . future interest rates are another important factor in the valuation of msrs . management utilizes market implied forward interest rates to estimate the future direction of mortgage and discount rates . the forward rates utilized are derived from the current yield curve for u.s . dollar interest rate swaps and are consistent with pricing of capital markets instruments . changes in the shape and slope of the forward curve in future periods may result in volatility in the fair value estimate . residential mortgage servicing rights dollars in millions december 31 december 31 . <table class='wikitable'><tr><td>1</td><td>dollars in millions</td><td>december 31 2011</td><td>december 312010</td></tr><tr><td>2</td><td>fair value</td><td>$ 647</td><td>$ 1033</td></tr><tr><td>3</td><td>weighted-average life ( in years ) ( a )</td><td>3.6</td><td>5.8</td></tr><tr><td>4</td><td>weighted-average constant prepayment rate ( a )</td><td>22.10% ( 22.10 % )</td><td>12.61% ( 12.61 % )</td></tr><tr><td>5</td><td>weighted-average option adjusted spread</td><td>11.77% ( 11.77 % )</td><td>12.18% ( 12.18 % )</td></tr></table> weighted-average constant prepayment rate ( a ) 22.10% ( 22.10 % ) 12.61% ( 12.61 % ) weighted-average option adjusted spread 11.77% ( 11.77 % ) 12.18% ( 12.18 % ) ( a ) changes in weighted-average life and weighted-average constant prepayment rate reflect the cumulative impact of changes in rates , prepayment expectations and model changes . the pnc financial services group , inc . 2013 form 10-k 65 . Conversations: q0: what was the fair value of residual mortgage rates in 2010? 1033.0 q1: what was the value in 2011? 647.0 Question: what is the sum? Answer:

1680.0

convfinqa1108

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: interest-earning assets including unearned income in the accretion of fair value adjustments on discounts recognized on acquired or purchased loans is recognized based on the constant effective yield of the financial instrument . the timing and amount of revenue that we recognize in any period is dependent on estimates , judgments , assumptions , and interpretation of contractual terms . changes in these factors can have a significant impact on revenue recognized in any period due to changes in products , market conditions or industry norms . residential and commercial mortgage servicing rights we elect to measure our residential mortgage servicing rights ( msrs ) at fair value . this election was made to be consistent with our risk management strategy to hedge changes in the fair value of these assets as described below . the fair value of residential msrs is estimated by using a cash flow valuation model which calculates the present value of estimated future net servicing cash flows , taking into consideration actual and expected mortgage loan prepayment rates , discount rates , servicing costs , and other economic factors which are determined based on current market conditions . assumptions incorporated into the residential msrs valuation model reflect management 2019s best estimate of factors that a market participant would use in valuing the residential msrs . although sales of residential msrs do occur , residential msrs do not trade in an active market with readily observable prices so the precise terms and conditions of sales are not available . as a benchmark for the reasonableness of its residential msrs fair value , pnc obtains opinions of value from independent parties ( 201cbrokers 201d ) . these brokers provided a range ( +/- 10 bps ) based upon their own discounted cash flow calculations of our portfolio that reflected conditions in the secondary market , and any recently executed servicing transactions . pnc compares its internally-developed residential msrs value to the ranges of values received from the brokers . if our residential msrs fair value falls outside of the brokers 2019 ranges , management will assess whether a valuation adjustment is warranted . for 2011 and 2010 , pnc 2019s residential msrs value has not fallen outside of the brokers 2019 ranges . we consider our residential msrs value to represent a reasonable estimate of fair value . commercial msrs are purchased or originated when loans are sold with servicing retained . commercial msrs do not trade in an active market with readily observable prices so the precise terms and conditions of sales are not available . commercial msrs are initially recorded at fair value and are subsequently accounted for at the lower of amortized cost or fair value . commercial msrs are periodically evaluated for impairment . for purposes of impairment , the commercial mortgage servicing rights are stratified based on asset type , which characterizes the predominant risk of the underlying financial asset . the fair value of commercial msrs is estimated by using an internal valuation model . the model calculates the present value of estimated future net servicing cash flows considering estimates of servicing revenue and costs , discount rates and prepayment speeds . pnc employs risk management strategies designed to protect the value of msrs from changes in interest rates and related market factors . residential msrs values are economically hedged with securities and derivatives , including interest-rate swaps , options , and forward mortgage-backed and futures contracts . as interest rates change , these financial instruments are expected to have changes in fair value negatively correlated to the change in fair value of the hedged residential msrs portfolio . the hedge relationships are actively managed in response to changing market conditions over the life of the residential msrs assets . commercial msrs are economically hedged at a macro level or with specific derivatives to protect against a significant decline in interest rates . selecting appropriate financial instruments to economically hedge residential or commercial msrs requires significant management judgment to assess how mortgage rates and prepayment speeds could affect the future values of msrs . hedging results can frequently be less predictable in the short term , but over longer periods of time are expected to protect the economic value of the msrs . the fair value of residential and commercial msrs and significant inputs to the valuation model as of december 31 , 2011 are shown in the tables below . the expected and actual rates of mortgage loan prepayments are significant factors driving the fair value . management uses a third-party model to estimate future residential loan prepayments and internal proprietary models to estimate future commercial loan prepayments . these models have been refined based on current market conditions . future interest rates are another important factor in the valuation of msrs . management utilizes market implied forward interest rates to estimate the future direction of mortgage and discount rates . the forward rates utilized are derived from the current yield curve for u.s . dollar interest rate swaps and are consistent with pricing of capital markets instruments . changes in the shape and slope of the forward curve in future periods may result in volatility in the fair value estimate . residential mortgage servicing rights dollars in millions december 31 december 31 . <table class='wikitable'><tr><td>1</td><td>dollars in millions</td><td>december 31 2011</td><td>december 312010</td></tr><tr><td>2</td><td>fair value</td><td>$ 647</td><td>$ 1033</td></tr><tr><td>3</td><td>weighted-average life ( in years ) ( a )</td><td>3.6</td><td>5.8</td></tr><tr><td>4</td><td>weighted-average constant prepayment rate ( a )</td><td>22.10% ( 22.10 % )</td><td>12.61% ( 12.61 % )</td></tr><tr><td>5</td><td>weighted-average option adjusted spread</td><td>11.77% ( 11.77 % )</td><td>12.18% ( 12.18 % )</td></tr></table> weighted-average constant prepayment rate ( a ) 22.10% ( 22.10 % ) 12.61% ( 12.61 % ) weighted-average option adjusted spread 11.77% ( 11.77 % ) 12.18% ( 12.18 % ) ( a ) changes in weighted-average life and weighted-average constant prepayment rate reflect the cumulative impact of changes in rates , prepayment expectations and model changes . the pnc financial services group , inc . 2013 form 10-k 65 . Conversations: q0: what was the fair value of residual mortgage rates in 2010? 1033.0 q1: what was the value in 2011? 647.0 q2: what is the sum? 1680.0 Question: what is the average value per year? Answer:

840.0

convfinqa1109

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: management 2019s discussion and analysis the table below presents the operating results of our institutional client services segment. . <table class='wikitable'><tr><td>1</td><td>in millions</td><td>year ended december 2012</td><td>year ended december 2011</td><td>year ended december 2010</td></tr><tr><td>2</td><td>fixed income currency and commodities client execution</td><td>$ 9914</td><td>$ 9018</td><td>$ 13707</td></tr><tr><td>3</td><td>equities client execution1</td><td>3171</td><td>3031</td><td>3231</td></tr><tr><td>4</td><td>commissions and fees</td><td>3053</td><td>3633</td><td>3426</td></tr><tr><td>5</td><td>securities services</td><td>1986</td><td>1598</td><td>1432</td></tr><tr><td>6</td><td>total equities</td><td>8210</td><td>8262</td><td>8089</td></tr><tr><td>7</td><td>total net revenues</td><td>18124</td><td>17280</td><td>21796</td></tr><tr><td>8</td><td>operating expenses</td><td>12480</td><td>12837</td><td>14994</td></tr><tr><td>9</td><td>pre-tax earnings</td><td>$ 5644</td><td>$ 4443</td><td>$ 6802</td></tr></table> 1 . includes net revenues related to reinsurance of $ 1.08 billion , $ 880 million and $ 827 million for the years ended december 2012 , december 2011 and december 2010 , respectively . 2012 versus 2011 . net revenues in institutional client services were $ 18.12 billion for 2012 , 5% ( 5 % ) higher than 2011 . net revenues in fixed income , currency and commodities client execution were $ 9.91 billion for 2012 , 10% ( 10 % ) higher than 2011 . these results reflected strong net revenues in mortgages , which were significantly higher compared with 2011 . in addition , net revenues in credit products and interest rate products were solid and higher compared with 2011 . these increases were partially offset by significantly lower net revenues in commodities and slightly lower net revenues in currencies . although broad market concerns persisted during 2012 , fixed income , currency and commodities client execution operated in a generally improved environment characterized by tighter credit spreads and less challenging market-making conditions compared with 2011 . net revenues in equities were $ 8.21 billion for 2012 , essentially unchanged compared with 2011 . net revenues in securities services were significantly higher compared with 2011 , reflecting a gain of approximately $ 500 million on the sale of our hedge fund administration business . in addition , equities client execution net revenues were higher than 2011 , primarily reflecting significantly higher results in cash products , principally due to increased levels of client activity . these increases were offset by lower commissions and fees , reflecting lower market volumes . during 2012 , equities operated in an environment generally characterized by an increase in global equity prices and lower volatility levels . the net loss attributable to the impact of changes in our own credit spreads on borrowings for which the fair value option was elected was $ 714 million ( $ 433 million and $ 281 million related to fixed income , currency and commodities client execution and equities client execution , respectively ) for 2012 , compared with a net gain of $ 596 million ( $ 399 million and $ 197 million related to fixed income , currency and commodities client execution and equities client execution , respectively ) for 2011 . during 2012 , institutional client services operated in an environment generally characterized by continued broad market concerns and uncertainties , although positive developments helped to improve market conditions . these developments included certain central bank actions to ease monetary policy and address funding risks for european financial institutions . in addition , the u.s . economy posted stable to improving economic data , including favorable developments in unemployment and housing . these improvements resulted in tighter credit spreads , higher global equity prices and lower levels of volatility . however , concerns about the outlook for the global economy and continued political uncertainty , particularly the political debate in the united states surrounding the fiscal cliff , generally resulted in client risk aversion and lower activity levels . also , uncertainty over financial regulatory reform persisted . if these concerns and uncertainties continue over the long term , net revenues in fixed income , currency and commodities client execution and equities would likely be negatively impacted . operating expenses were $ 12.48 billion for 2012 , 3% ( 3 % ) lower than 2011 , primarily due to lower brokerage , clearing , exchange and distribution fees , and lower impairment charges , partially offset by higher net provisions for litigation and regulatory proceedings . pre-tax earnings were $ 5.64 billion in 2012 , 27% ( 27 % ) higher than 2011 . 2011 versus 2010 . net revenues in institutional client services were $ 17.28 billion for 2011 , 21% ( 21 % ) lower than 2010 . net revenues in fixed income , currency and commodities client execution were $ 9.02 billion for 2011 , 34% ( 34 % ) lower than 2010 . although activity levels during 2011 were generally consistent with 2010 levels , and results were solid during the first quarter of 2011 , the environment during the remainder of 2011 was characterized by broad market concerns and uncertainty , resulting in volatile markets and significantly wider credit spreads , which contributed to difficult market-making conditions and led to reductions in risk by us and our clients . as a result of these conditions , net revenues across the franchise were lower , including significant declines in mortgages and credit products , compared with 2010 . 54 goldman sachs 2012 annual report . Conversations: Question: what was the total of net revenues related to reinsurance in 2012, in billions of dollars? Answer:

1.08

convfinqa1110

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: management 2019s discussion and analysis the table below presents the operating results of our institutional client services segment. . <table class='wikitable'><tr><td>1</td><td>in millions</td><td>year ended december 2012</td><td>year ended december 2011</td><td>year ended december 2010</td></tr><tr><td>2</td><td>fixed income currency and commodities client execution</td><td>$ 9914</td><td>$ 9018</td><td>$ 13707</td></tr><tr><td>3</td><td>equities client execution1</td><td>3171</td><td>3031</td><td>3231</td></tr><tr><td>4</td><td>commissions and fees</td><td>3053</td><td>3633</td><td>3426</td></tr><tr><td>5</td><td>securities services</td><td>1986</td><td>1598</td><td>1432</td></tr><tr><td>6</td><td>total equities</td><td>8210</td><td>8262</td><td>8089</td></tr><tr><td>7</td><td>total net revenues</td><td>18124</td><td>17280</td><td>21796</td></tr><tr><td>8</td><td>operating expenses</td><td>12480</td><td>12837</td><td>14994</td></tr><tr><td>9</td><td>pre-tax earnings</td><td>$ 5644</td><td>$ 4443</td><td>$ 6802</td></tr></table> 1 . includes net revenues related to reinsurance of $ 1.08 billion , $ 880 million and $ 827 million for the years ended december 2012 , december 2011 and december 2010 , respectively . 2012 versus 2011 . net revenues in institutional client services were $ 18.12 billion for 2012 , 5% ( 5 % ) higher than 2011 . net revenues in fixed income , currency and commodities client execution were $ 9.91 billion for 2012 , 10% ( 10 % ) higher than 2011 . these results reflected strong net revenues in mortgages , which were significantly higher compared with 2011 . in addition , net revenues in credit products and interest rate products were solid and higher compared with 2011 . these increases were partially offset by significantly lower net revenues in commodities and slightly lower net revenues in currencies . although broad market concerns persisted during 2012 , fixed income , currency and commodities client execution operated in a generally improved environment characterized by tighter credit spreads and less challenging market-making conditions compared with 2011 . net revenues in equities were $ 8.21 billion for 2012 , essentially unchanged compared with 2011 . net revenues in securities services were significantly higher compared with 2011 , reflecting a gain of approximately $ 500 million on the sale of our hedge fund administration business . in addition , equities client execution net revenues were higher than 2011 , primarily reflecting significantly higher results in cash products , principally due to increased levels of client activity . these increases were offset by lower commissions and fees , reflecting lower market volumes . during 2012 , equities operated in an environment generally characterized by an increase in global equity prices and lower volatility levels . the net loss attributable to the impact of changes in our own credit spreads on borrowings for which the fair value option was elected was $ 714 million ( $ 433 million and $ 281 million related to fixed income , currency and commodities client execution and equities client execution , respectively ) for 2012 , compared with a net gain of $ 596 million ( $ 399 million and $ 197 million related to fixed income , currency and commodities client execution and equities client execution , respectively ) for 2011 . during 2012 , institutional client services operated in an environment generally characterized by continued broad market concerns and uncertainties , although positive developments helped to improve market conditions . these developments included certain central bank actions to ease monetary policy and address funding risks for european financial institutions . in addition , the u.s . economy posted stable to improving economic data , including favorable developments in unemployment and housing . these improvements resulted in tighter credit spreads , higher global equity prices and lower levels of volatility . however , concerns about the outlook for the global economy and continued political uncertainty , particularly the political debate in the united states surrounding the fiscal cliff , generally resulted in client risk aversion and lower activity levels . also , uncertainty over financial regulatory reform persisted . if these concerns and uncertainties continue over the long term , net revenues in fixed income , currency and commodities client execution and equities would likely be negatively impacted . operating expenses were $ 12.48 billion for 2012 , 3% ( 3 % ) lower than 2011 , primarily due to lower brokerage , clearing , exchange and distribution fees , and lower impairment charges , partially offset by higher net provisions for litigation and regulatory proceedings . pre-tax earnings were $ 5.64 billion in 2012 , 27% ( 27 % ) higher than 2011 . 2011 versus 2010 . net revenues in institutional client services were $ 17.28 billion for 2011 , 21% ( 21 % ) lower than 2010 . net revenues in fixed income , currency and commodities client execution were $ 9.02 billion for 2011 , 34% ( 34 % ) lower than 2010 . although activity levels during 2011 were generally consistent with 2010 levels , and results were solid during the first quarter of 2011 , the environment during the remainder of 2011 was characterized by broad market concerns and uncertainty , resulting in volatile markets and significantly wider credit spreads , which contributed to difficult market-making conditions and led to reductions in risk by us and our clients . as a result of these conditions , net revenues across the franchise were lower , including significant declines in mortgages and credit products , compared with 2010 . 54 goldman sachs 2012 annual report . Conversations: q0: what was the total of net revenues related to reinsurance in 2012, in billions of dollars? 1.08 Question: and what is that in millions? Answer:

1080.0

convfinqa1111

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: management 2019s discussion and analysis the table below presents the operating results of our institutional client services segment. . <table class='wikitable'><tr><td>1</td><td>in millions</td><td>year ended december 2012</td><td>year ended december 2011</td><td>year ended december 2010</td></tr><tr><td>2</td><td>fixed income currency and commodities client execution</td><td>$ 9914</td><td>$ 9018</td><td>$ 13707</td></tr><tr><td>3</td><td>equities client execution1</td><td>3171</td><td>3031</td><td>3231</td></tr><tr><td>4</td><td>commissions and fees</td><td>3053</td><td>3633</td><td>3426</td></tr><tr><td>5</td><td>securities services</td><td>1986</td><td>1598</td><td>1432</td></tr><tr><td>6</td><td>total equities</td><td>8210</td><td>8262</td><td>8089</td></tr><tr><td>7</td><td>total net revenues</td><td>18124</td><td>17280</td><td>21796</td></tr><tr><td>8</td><td>operating expenses</td><td>12480</td><td>12837</td><td>14994</td></tr><tr><td>9</td><td>pre-tax earnings</td><td>$ 5644</td><td>$ 4443</td><td>$ 6802</td></tr></table> 1 . includes net revenues related to reinsurance of $ 1.08 billion , $ 880 million and $ 827 million for the years ended december 2012 , december 2011 and december 2010 , respectively . 2012 versus 2011 . net revenues in institutional client services were $ 18.12 billion for 2012 , 5% ( 5 % ) higher than 2011 . net revenues in fixed income , currency and commodities client execution were $ 9.91 billion for 2012 , 10% ( 10 % ) higher than 2011 . these results reflected strong net revenues in mortgages , which were significantly higher compared with 2011 . in addition , net revenues in credit products and interest rate products were solid and higher compared with 2011 . these increases were partially offset by significantly lower net revenues in commodities and slightly lower net revenues in currencies . although broad market concerns persisted during 2012 , fixed income , currency and commodities client execution operated in a generally improved environment characterized by tighter credit spreads and less challenging market-making conditions compared with 2011 . net revenues in equities were $ 8.21 billion for 2012 , essentially unchanged compared with 2011 . net revenues in securities services were significantly higher compared with 2011 , reflecting a gain of approximately $ 500 million on the sale of our hedge fund administration business . in addition , equities client execution net revenues were higher than 2011 , primarily reflecting significantly higher results in cash products , principally due to increased levels of client activity . these increases were offset by lower commissions and fees , reflecting lower market volumes . during 2012 , equities operated in an environment generally characterized by an increase in global equity prices and lower volatility levels . the net loss attributable to the impact of changes in our own credit spreads on borrowings for which the fair value option was elected was $ 714 million ( $ 433 million and $ 281 million related to fixed income , currency and commodities client execution and equities client execution , respectively ) for 2012 , compared with a net gain of $ 596 million ( $ 399 million and $ 197 million related to fixed income , currency and commodities client execution and equities client execution , respectively ) for 2011 . during 2012 , institutional client services operated in an environment generally characterized by continued broad market concerns and uncertainties , although positive developments helped to improve market conditions . these developments included certain central bank actions to ease monetary policy and address funding risks for european financial institutions . in addition , the u.s . economy posted stable to improving economic data , including favorable developments in unemployment and housing . these improvements resulted in tighter credit spreads , higher global equity prices and lower levels of volatility . however , concerns about the outlook for the global economy and continued political uncertainty , particularly the political debate in the united states surrounding the fiscal cliff , generally resulted in client risk aversion and lower activity levels . also , uncertainty over financial regulatory reform persisted . if these concerns and uncertainties continue over the long term , net revenues in fixed income , currency and commodities client execution and equities would likely be negatively impacted . operating expenses were $ 12.48 billion for 2012 , 3% ( 3 % ) lower than 2011 , primarily due to lower brokerage , clearing , exchange and distribution fees , and lower impairment charges , partially offset by higher net provisions for litigation and regulatory proceedings . pre-tax earnings were $ 5.64 billion in 2012 , 27% ( 27 % ) higher than 2011 . 2011 versus 2010 . net revenues in institutional client services were $ 17.28 billion for 2011 , 21% ( 21 % ) lower than 2010 . net revenues in fixed income , currency and commodities client execution were $ 9.02 billion for 2011 , 34% ( 34 % ) lower than 2010 . although activity levels during 2011 were generally consistent with 2010 levels , and results were solid during the first quarter of 2011 , the environment during the remainder of 2011 was characterized by broad market concerns and uncertainty , resulting in volatile markets and significantly wider credit spreads , which contributed to difficult market-making conditions and led to reductions in risk by us and our clients . as a result of these conditions , net revenues across the franchise were lower , including significant declines in mortgages and credit products , compared with 2010 . 54 goldman sachs 2012 annual report . Conversations: q0: what was the total of net revenues related to reinsurance in 2012, in billions of dollars? 1.08 q1: and what is that in millions? 1080.0 Question: and between the two previous years, what was the change in that total for all revenues? Answer:

-4516.0

convfinqa1112

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: management 2019s discussion and analysis the table below presents the operating results of our institutional client services segment. . <table class='wikitable'><tr><td>1</td><td>in millions</td><td>year ended december 2012</td><td>year ended december 2011</td><td>year ended december 2010</td></tr><tr><td>2</td><td>fixed income currency and commodities client execution</td><td>$ 9914</td><td>$ 9018</td><td>$ 13707</td></tr><tr><td>3</td><td>equities client execution1</td><td>3171</td><td>3031</td><td>3231</td></tr><tr><td>4</td><td>commissions and fees</td><td>3053</td><td>3633</td><td>3426</td></tr><tr><td>5</td><td>securities services</td><td>1986</td><td>1598</td><td>1432</td></tr><tr><td>6</td><td>total equities</td><td>8210</td><td>8262</td><td>8089</td></tr><tr><td>7</td><td>total net revenues</td><td>18124</td><td>17280</td><td>21796</td></tr><tr><td>8</td><td>operating expenses</td><td>12480</td><td>12837</td><td>14994</td></tr><tr><td>9</td><td>pre-tax earnings</td><td>$ 5644</td><td>$ 4443</td><td>$ 6802</td></tr></table> 1 . includes net revenues related to reinsurance of $ 1.08 billion , $ 880 million and $ 827 million for the years ended december 2012 , december 2011 and december 2010 , respectively . 2012 versus 2011 . net revenues in institutional client services were $ 18.12 billion for 2012 , 5% ( 5 % ) higher than 2011 . net revenues in fixed income , currency and commodities client execution were $ 9.91 billion for 2012 , 10% ( 10 % ) higher than 2011 . these results reflected strong net revenues in mortgages , which were significantly higher compared with 2011 . in addition , net revenues in credit products and interest rate products were solid and higher compared with 2011 . these increases were partially offset by significantly lower net revenues in commodities and slightly lower net revenues in currencies . although broad market concerns persisted during 2012 , fixed income , currency and commodities client execution operated in a generally improved environment characterized by tighter credit spreads and less challenging market-making conditions compared with 2011 . net revenues in equities were $ 8.21 billion for 2012 , essentially unchanged compared with 2011 . net revenues in securities services were significantly higher compared with 2011 , reflecting a gain of approximately $ 500 million on the sale of our hedge fund administration business . in addition , equities client execution net revenues were higher than 2011 , primarily reflecting significantly higher results in cash products , principally due to increased levels of client activity . these increases were offset by lower commissions and fees , reflecting lower market volumes . during 2012 , equities operated in an environment generally characterized by an increase in global equity prices and lower volatility levels . the net loss attributable to the impact of changes in our own credit spreads on borrowings for which the fair value option was elected was $ 714 million ( $ 433 million and $ 281 million related to fixed income , currency and commodities client execution and equities client execution , respectively ) for 2012 , compared with a net gain of $ 596 million ( $ 399 million and $ 197 million related to fixed income , currency and commodities client execution and equities client execution , respectively ) for 2011 . during 2012 , institutional client services operated in an environment generally characterized by continued broad market concerns and uncertainties , although positive developments helped to improve market conditions . these developments included certain central bank actions to ease monetary policy and address funding risks for european financial institutions . in addition , the u.s . economy posted stable to improving economic data , including favorable developments in unemployment and housing . these improvements resulted in tighter credit spreads , higher global equity prices and lower levels of volatility . however , concerns about the outlook for the global economy and continued political uncertainty , particularly the political debate in the united states surrounding the fiscal cliff , generally resulted in client risk aversion and lower activity levels . also , uncertainty over financial regulatory reform persisted . if these concerns and uncertainties continue over the long term , net revenues in fixed income , currency and commodities client execution and equities would likely be negatively impacted . operating expenses were $ 12.48 billion for 2012 , 3% ( 3 % ) lower than 2011 , primarily due to lower brokerage , clearing , exchange and distribution fees , and lower impairment charges , partially offset by higher net provisions for litigation and regulatory proceedings . pre-tax earnings were $ 5.64 billion in 2012 , 27% ( 27 % ) higher than 2011 . 2011 versus 2010 . net revenues in institutional client services were $ 17.28 billion for 2011 , 21% ( 21 % ) lower than 2010 . net revenues in fixed income , currency and commodities client execution were $ 9.02 billion for 2011 , 34% ( 34 % ) lower than 2010 . although activity levels during 2011 were generally consistent with 2010 levels , and results were solid during the first quarter of 2011 , the environment during the remainder of 2011 was characterized by broad market concerns and uncertainty , resulting in volatile markets and significantly wider credit spreads , which contributed to difficult market-making conditions and led to reductions in risk by us and our clients . as a result of these conditions , net revenues across the franchise were lower , including significant declines in mortgages and credit products , compared with 2010 . 54 goldman sachs 2012 annual report . Conversations: q0: what was the total of net revenues related to reinsurance in 2012, in billions of dollars? 1.08 q1: and what is that in millions? 1080.0 q2: and between the two previous years, what was the change in that total for all revenues? -4516.0 Question: what is this change as a percentage of those net revenues in 2010? Answer:

-0.20719

convfinqa1113

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: development of prior year incurred losses was $ 135.6 million unfavorable in 2006 , $ 26.4 million favorable in 2005 and $ 249.4 million unfavorable in 2004 . such losses were the result of the reserve development noted above , as well as inher- ent uncertainty in establishing loss and lae reserves . reserves for asbestos and environmental losses and loss adjustment expenses as of year end 2006 , 7.4% ( 7.4 % ) of reserves reflect an estimate for the company 2019s ultimate liability for a&e claims for which ulti- mate value cannot be estimated using traditional reserving techniques . the company 2019s a&e liabilities stem from mt . mckinley 2019s direct insurance business and everest re 2019s assumed reinsurance business . there are significant uncertainties in estimating the amount of the company 2019s potential losses from a&e claims . see item 7 , 201cmanagement 2019s discussion and analysis of financial condition and results of operations 2014asbestos and environmental exposures 201d and note 3 of notes to consolidated financial statements . mt . mckinley 2019s book of direct a&e exposed insurance is relatively small and homogenous . it also arises from a limited period , effective 1978 to 1984 . the book is based principally on excess liability policies , thereby limiting exposure analysis to a lim- ited number of policies and forms . as a result of this focused structure , the company believes that it is able to comprehen- sively analyze its exposures , allowing it to identify , analyze and actively monitor those claims which have unusual exposure , including policies in which it may be exposed to pay expenses in addition to policy limits or non-products asbestos claims . the company endeavors to be actively engaged with every insured account posing significant potential asbestos exposure to mt . mckinley . such engagement can take the form of pursuing a final settlement , negotiation , litigation , or the monitoring of claim activity under settlement in place ( 201csip 201d ) agreements . sip agreements generally condition an insurer 2019s payment upon the actual claim experience of the insured and may have annual payment caps or other measures to control the insurer 2019s payments . the company 2019s mt . mckinley operation is currently managing eight sip agreements , three of which were executed prior to the acquisition of mt . mckinley in 2000 . the company 2019s preference with respect to coverage settlements is to exe- cute settlements that call for a fixed schedule of payments , because such settlements eliminate future uncertainty . the company has significantly enhanced its classification of insureds by exposure characteristics over time , as well as its analysis by insured for those it considers to be more exposed or active . those insureds identified as relatively less exposed or active are subject to less rigorous , but still active management , with an emphasis on monitoring those characteristics , which may indicate an increasing exposure or levels of activity . the company continually focuses on further enhancement of the detailed estimation processes used to evaluate potential exposure of policyholders , including those that may not have reported significant a&e losses . everest re 2019s book of assumed reinsurance is relatively concentrated within a modest number of a&e exposed relationships . it also arises from a limited period , effectively 1977 to 1984 . because the book of business is relatively concentrated and the company has been managing the a&e exposures for many years , its claim staff is familiar with the ceding companies that have generated most of these liabilities in the past and which are therefore most likely to generate future liabilities . the company 2019s claim staff has developed familiarity both with the nature of the business written by its ceding companies and the claims handling and reserving practices of those companies . this level of familiarity enhances the quality of the company 2019s analysis of its exposure through those companies . as a result , the company believes that it can identify those claims on which it has unusual exposure , such as non-products asbestos claims , for concentrated attention . however , in setting reserves for its reinsurance liabilities , the company relies on claims data supplied , both formally and informally by its ceding companies and brokers . this furnished information is not always timely or accurate and can impact the accuracy and timeli- ness of the company 2019s ultimate loss projections . the following table summarizes the composition of the company 2019s total reserves for a&e losses , gross and net of reinsurance , for the years ended december 31: . <table class='wikitable'><tr><td>1</td><td>( dollars in millions )</td><td>2006</td><td>2005</td><td>2004</td></tr><tr><td>2</td><td>case reserves reported by ceding companies</td><td>$ 135.6</td><td>$ 125.2</td><td>$ 148.5</td></tr><tr><td>3</td><td>additional case reserves established by the company ( assumed reinsurance ) ( 1 )</td><td>152.1</td><td>157.6</td><td>151.3</td></tr><tr><td>4</td><td>case reserves established by the company ( direct insurance )</td><td>213.7</td><td>243.5</td><td>272.1</td></tr><tr><td>5</td><td>incurred but not reported reserves</td><td>148.7</td><td>123.3</td><td>156.4</td></tr><tr><td>6</td><td>gross reserves</td><td>650.1</td><td>649.6</td><td>728.3</td></tr><tr><td>7</td><td>reinsurance receivable</td><td>-138.7 ( 138.7 )</td><td>-199.1 ( 199.1 )</td><td>-221.6 ( 221.6 )</td></tr><tr><td>8</td><td>net reserves</td><td>$ 511.4</td><td>$ 450.5</td><td>$ 506.7</td></tr></table> ( 1 ) additional reserves are case specific reserves determined by the company to be needed over and above those reported by the ceding company . 81790fin_a 4/13/07 11:08 am page 15 . Conversations: Question: what was the value of net reserves in 2006? Answer:

511.4

convfinqa1114

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: development of prior year incurred losses was $ 135.6 million unfavorable in 2006 , $ 26.4 million favorable in 2005 and $ 249.4 million unfavorable in 2004 . such losses were the result of the reserve development noted above , as well as inher- ent uncertainty in establishing loss and lae reserves . reserves for asbestos and environmental losses and loss adjustment expenses as of year end 2006 , 7.4% ( 7.4 % ) of reserves reflect an estimate for the company 2019s ultimate liability for a&e claims for which ulti- mate value cannot be estimated using traditional reserving techniques . the company 2019s a&e liabilities stem from mt . mckinley 2019s direct insurance business and everest re 2019s assumed reinsurance business . there are significant uncertainties in estimating the amount of the company 2019s potential losses from a&e claims . see item 7 , 201cmanagement 2019s discussion and analysis of financial condition and results of operations 2014asbestos and environmental exposures 201d and note 3 of notes to consolidated financial statements . mt . mckinley 2019s book of direct a&e exposed insurance is relatively small and homogenous . it also arises from a limited period , effective 1978 to 1984 . the book is based principally on excess liability policies , thereby limiting exposure analysis to a lim- ited number of policies and forms . as a result of this focused structure , the company believes that it is able to comprehen- sively analyze its exposures , allowing it to identify , analyze and actively monitor those claims which have unusual exposure , including policies in which it may be exposed to pay expenses in addition to policy limits or non-products asbestos claims . the company endeavors to be actively engaged with every insured account posing significant potential asbestos exposure to mt . mckinley . such engagement can take the form of pursuing a final settlement , negotiation , litigation , or the monitoring of claim activity under settlement in place ( 201csip 201d ) agreements . sip agreements generally condition an insurer 2019s payment upon the actual claim experience of the insured and may have annual payment caps or other measures to control the insurer 2019s payments . the company 2019s mt . mckinley operation is currently managing eight sip agreements , three of which were executed prior to the acquisition of mt . mckinley in 2000 . the company 2019s preference with respect to coverage settlements is to exe- cute settlements that call for a fixed schedule of payments , because such settlements eliminate future uncertainty . the company has significantly enhanced its classification of insureds by exposure characteristics over time , as well as its analysis by insured for those it considers to be more exposed or active . those insureds identified as relatively less exposed or active are subject to less rigorous , but still active management , with an emphasis on monitoring those characteristics , which may indicate an increasing exposure or levels of activity . the company continually focuses on further enhancement of the detailed estimation processes used to evaluate potential exposure of policyholders , including those that may not have reported significant a&e losses . everest re 2019s book of assumed reinsurance is relatively concentrated within a modest number of a&e exposed relationships . it also arises from a limited period , effectively 1977 to 1984 . because the book of business is relatively concentrated and the company has been managing the a&e exposures for many years , its claim staff is familiar with the ceding companies that have generated most of these liabilities in the past and which are therefore most likely to generate future liabilities . the company 2019s claim staff has developed familiarity both with the nature of the business written by its ceding companies and the claims handling and reserving practices of those companies . this level of familiarity enhances the quality of the company 2019s analysis of its exposure through those companies . as a result , the company believes that it can identify those claims on which it has unusual exposure , such as non-products asbestos claims , for concentrated attention . however , in setting reserves for its reinsurance liabilities , the company relies on claims data supplied , both formally and informally by its ceding companies and brokers . this furnished information is not always timely or accurate and can impact the accuracy and timeli- ness of the company 2019s ultimate loss projections . the following table summarizes the composition of the company 2019s total reserves for a&e losses , gross and net of reinsurance , for the years ended december 31: . <table class='wikitable'><tr><td>1</td><td>( dollars in millions )</td><td>2006</td><td>2005</td><td>2004</td></tr><tr><td>2</td><td>case reserves reported by ceding companies</td><td>$ 135.6</td><td>$ 125.2</td><td>$ 148.5</td></tr><tr><td>3</td><td>additional case reserves established by the company ( assumed reinsurance ) ( 1 )</td><td>152.1</td><td>157.6</td><td>151.3</td></tr><tr><td>4</td><td>case reserves established by the company ( direct insurance )</td><td>213.7</td><td>243.5</td><td>272.1</td></tr><tr><td>5</td><td>incurred but not reported reserves</td><td>148.7</td><td>123.3</td><td>156.4</td></tr><tr><td>6</td><td>gross reserves</td><td>650.1</td><td>649.6</td><td>728.3</td></tr><tr><td>7</td><td>reinsurance receivable</td><td>-138.7 ( 138.7 )</td><td>-199.1 ( 199.1 )</td><td>-221.6 ( 221.6 )</td></tr><tr><td>8</td><td>net reserves</td><td>$ 511.4</td><td>$ 450.5</td><td>$ 506.7</td></tr></table> ( 1 ) additional reserves are case specific reserves determined by the company to be needed over and above those reported by the ceding company . 81790fin_a 4/13/07 11:08 am page 15 . Conversations: q0: what was the value of net reserves in 2006? 511.4 Question: what was the value in 2005? Answer:

450.5

convfinqa1115

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: development of prior year incurred losses was $ 135.6 million unfavorable in 2006 , $ 26.4 million favorable in 2005 and $ 249.4 million unfavorable in 2004 . such losses were the result of the reserve development noted above , as well as inher- ent uncertainty in establishing loss and lae reserves . reserves for asbestos and environmental losses and loss adjustment expenses as of year end 2006 , 7.4% ( 7.4 % ) of reserves reflect an estimate for the company 2019s ultimate liability for a&e claims for which ulti- mate value cannot be estimated using traditional reserving techniques . the company 2019s a&e liabilities stem from mt . mckinley 2019s direct insurance business and everest re 2019s assumed reinsurance business . there are significant uncertainties in estimating the amount of the company 2019s potential losses from a&e claims . see item 7 , 201cmanagement 2019s discussion and analysis of financial condition and results of operations 2014asbestos and environmental exposures 201d and note 3 of notes to consolidated financial statements . mt . mckinley 2019s book of direct a&e exposed insurance is relatively small and homogenous . it also arises from a limited period , effective 1978 to 1984 . the book is based principally on excess liability policies , thereby limiting exposure analysis to a lim- ited number of policies and forms . as a result of this focused structure , the company believes that it is able to comprehen- sively analyze its exposures , allowing it to identify , analyze and actively monitor those claims which have unusual exposure , including policies in which it may be exposed to pay expenses in addition to policy limits or non-products asbestos claims . the company endeavors to be actively engaged with every insured account posing significant potential asbestos exposure to mt . mckinley . such engagement can take the form of pursuing a final settlement , negotiation , litigation , or the monitoring of claim activity under settlement in place ( 201csip 201d ) agreements . sip agreements generally condition an insurer 2019s payment upon the actual claim experience of the insured and may have annual payment caps or other measures to control the insurer 2019s payments . the company 2019s mt . mckinley operation is currently managing eight sip agreements , three of which were executed prior to the acquisition of mt . mckinley in 2000 . the company 2019s preference with respect to coverage settlements is to exe- cute settlements that call for a fixed schedule of payments , because such settlements eliminate future uncertainty . the company has significantly enhanced its classification of insureds by exposure characteristics over time , as well as its analysis by insured for those it considers to be more exposed or active . those insureds identified as relatively less exposed or active are subject to less rigorous , but still active management , with an emphasis on monitoring those characteristics , which may indicate an increasing exposure or levels of activity . the company continually focuses on further enhancement of the detailed estimation processes used to evaluate potential exposure of policyholders , including those that may not have reported significant a&e losses . everest re 2019s book of assumed reinsurance is relatively concentrated within a modest number of a&e exposed relationships . it also arises from a limited period , effectively 1977 to 1984 . because the book of business is relatively concentrated and the company has been managing the a&e exposures for many years , its claim staff is familiar with the ceding companies that have generated most of these liabilities in the past and which are therefore most likely to generate future liabilities . the company 2019s claim staff has developed familiarity both with the nature of the business written by its ceding companies and the claims handling and reserving practices of those companies . this level of familiarity enhances the quality of the company 2019s analysis of its exposure through those companies . as a result , the company believes that it can identify those claims on which it has unusual exposure , such as non-products asbestos claims , for concentrated attention . however , in setting reserves for its reinsurance liabilities , the company relies on claims data supplied , both formally and informally by its ceding companies and brokers . this furnished information is not always timely or accurate and can impact the accuracy and timeli- ness of the company 2019s ultimate loss projections . the following table summarizes the composition of the company 2019s total reserves for a&e losses , gross and net of reinsurance , for the years ended december 31: . <table class='wikitable'><tr><td>1</td><td>( dollars in millions )</td><td>2006</td><td>2005</td><td>2004</td></tr><tr><td>2</td><td>case reserves reported by ceding companies</td><td>$ 135.6</td><td>$ 125.2</td><td>$ 148.5</td></tr><tr><td>3</td><td>additional case reserves established by the company ( assumed reinsurance ) ( 1 )</td><td>152.1</td><td>157.6</td><td>151.3</td></tr><tr><td>4</td><td>case reserves established by the company ( direct insurance )</td><td>213.7</td><td>243.5</td><td>272.1</td></tr><tr><td>5</td><td>incurred but not reported reserves</td><td>148.7</td><td>123.3</td><td>156.4</td></tr><tr><td>6</td><td>gross reserves</td><td>650.1</td><td>649.6</td><td>728.3</td></tr><tr><td>7</td><td>reinsurance receivable</td><td>-138.7 ( 138.7 )</td><td>-199.1 ( 199.1 )</td><td>-221.6 ( 221.6 )</td></tr><tr><td>8</td><td>net reserves</td><td>$ 511.4</td><td>$ 450.5</td><td>$ 506.7</td></tr></table> ( 1 ) additional reserves are case specific reserves determined by the company to be needed over and above those reported by the ceding company . 81790fin_a 4/13/07 11:08 am page 15 . Conversations: q0: what was the value of net reserves in 2006? 511.4 q1: what was the value in 2005? 450.5 Question: what is the net change in value? Answer:

60.9

convfinqa1116

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: development of prior year incurred losses was $ 135.6 million unfavorable in 2006 , $ 26.4 million favorable in 2005 and $ 249.4 million unfavorable in 2004 . such losses were the result of the reserve development noted above , as well as inher- ent uncertainty in establishing loss and lae reserves . reserves for asbestos and environmental losses and loss adjustment expenses as of year end 2006 , 7.4% ( 7.4 % ) of reserves reflect an estimate for the company 2019s ultimate liability for a&e claims for which ulti- mate value cannot be estimated using traditional reserving techniques . the company 2019s a&e liabilities stem from mt . mckinley 2019s direct insurance business and everest re 2019s assumed reinsurance business . there are significant uncertainties in estimating the amount of the company 2019s potential losses from a&e claims . see item 7 , 201cmanagement 2019s discussion and analysis of financial condition and results of operations 2014asbestos and environmental exposures 201d and note 3 of notes to consolidated financial statements . mt . mckinley 2019s book of direct a&e exposed insurance is relatively small and homogenous . it also arises from a limited period , effective 1978 to 1984 . the book is based principally on excess liability policies , thereby limiting exposure analysis to a lim- ited number of policies and forms . as a result of this focused structure , the company believes that it is able to comprehen- sively analyze its exposures , allowing it to identify , analyze and actively monitor those claims which have unusual exposure , including policies in which it may be exposed to pay expenses in addition to policy limits or non-products asbestos claims . the company endeavors to be actively engaged with every insured account posing significant potential asbestos exposure to mt . mckinley . such engagement can take the form of pursuing a final settlement , negotiation , litigation , or the monitoring of claim activity under settlement in place ( 201csip 201d ) agreements . sip agreements generally condition an insurer 2019s payment upon the actual claim experience of the insured and may have annual payment caps or other measures to control the insurer 2019s payments . the company 2019s mt . mckinley operation is currently managing eight sip agreements , three of which were executed prior to the acquisition of mt . mckinley in 2000 . the company 2019s preference with respect to coverage settlements is to exe- cute settlements that call for a fixed schedule of payments , because such settlements eliminate future uncertainty . the company has significantly enhanced its classification of insureds by exposure characteristics over time , as well as its analysis by insured for those it considers to be more exposed or active . those insureds identified as relatively less exposed or active are subject to less rigorous , but still active management , with an emphasis on monitoring those characteristics , which may indicate an increasing exposure or levels of activity . the company continually focuses on further enhancement of the detailed estimation processes used to evaluate potential exposure of policyholders , including those that may not have reported significant a&e losses . everest re 2019s book of assumed reinsurance is relatively concentrated within a modest number of a&e exposed relationships . it also arises from a limited period , effectively 1977 to 1984 . because the book of business is relatively concentrated and the company has been managing the a&e exposures for many years , its claim staff is familiar with the ceding companies that have generated most of these liabilities in the past and which are therefore most likely to generate future liabilities . the company 2019s claim staff has developed familiarity both with the nature of the business written by its ceding companies and the claims handling and reserving practices of those companies . this level of familiarity enhances the quality of the company 2019s analysis of its exposure through those companies . as a result , the company believes that it can identify those claims on which it has unusual exposure , such as non-products asbestos claims , for concentrated attention . however , in setting reserves for its reinsurance liabilities , the company relies on claims data supplied , both formally and informally by its ceding companies and brokers . this furnished information is not always timely or accurate and can impact the accuracy and timeli- ness of the company 2019s ultimate loss projections . the following table summarizes the composition of the company 2019s total reserves for a&e losses , gross and net of reinsurance , for the years ended december 31: . <table class='wikitable'><tr><td>1</td><td>( dollars in millions )</td><td>2006</td><td>2005</td><td>2004</td></tr><tr><td>2</td><td>case reserves reported by ceding companies</td><td>$ 135.6</td><td>$ 125.2</td><td>$ 148.5</td></tr><tr><td>3</td><td>additional case reserves established by the company ( assumed reinsurance ) ( 1 )</td><td>152.1</td><td>157.6</td><td>151.3</td></tr><tr><td>4</td><td>case reserves established by the company ( direct insurance )</td><td>213.7</td><td>243.5</td><td>272.1</td></tr><tr><td>5</td><td>incurred but not reported reserves</td><td>148.7</td><td>123.3</td><td>156.4</td></tr><tr><td>6</td><td>gross reserves</td><td>650.1</td><td>649.6</td><td>728.3</td></tr><tr><td>7</td><td>reinsurance receivable</td><td>-138.7 ( 138.7 )</td><td>-199.1 ( 199.1 )</td><td>-221.6 ( 221.6 )</td></tr><tr><td>8</td><td>net reserves</td><td>$ 511.4</td><td>$ 450.5</td><td>$ 506.7</td></tr></table> ( 1 ) additional reserves are case specific reserves determined by the company to be needed over and above those reported by the ceding company . 81790fin_a 4/13/07 11:08 am page 15 . Conversations: q0: what was the value of net reserves in 2006? 511.4 q1: what was the value in 2005? 450.5 q2: what is the net change in value? 60.9 Question: what is the net change divided by the 2005 amount? Answer:

0.13518

convfinqa1117

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: table of contents extinguishment costs incurred as a result of the repayment of certain aircraft secured indebtedness , including cash interest charges and non-cash write offs of unamortized debt issuance costs . as a result of the 2013 refinancing activities and the early extinguishment of american 2019s 7.50% ( 7.50 % ) senior secured notes in 2014 , we recognized $ 100 million less interest expense in 2014 as compared to the 2013 period . other nonoperating expense , net in 2014 consisted principally of net foreign currency losses of $ 114 million and early debt extinguishment charges of $ 56 million . other nonoperating expense , net in 2013 consisted principally of net foreign currency losses of $ 56 million and early debt extinguishment charges of $ 29 million . other nonoperating expense , net increased $ 64 million , or 73.1% ( 73.1 % ) , during 2014 primarily due to special charges recognized as a result of early debt extinguishment and an increase in foreign currency losses driven by the strengthening of the u.s . dollar in foreign currency transactions , principally in latin american markets . we recorded a $ 43 million special charge for venezuelan foreign currency losses in 2014 . see part ii , item 7a . quantitative and qualitative disclosures about market risk for further discussion of our cash held in venezuelan bolivars . in addition , our 2014 nonoperating special items included $ 56 million primarily related to the early extinguishment of american 2019s 7.50% ( 7.50 % ) senior secured notes and other indebtedness . reorganization items , net reorganization items refer to revenues , expenses ( including professional fees ) , realized gains and losses and provisions for losses that are realized or incurred as a direct result of the chapter 11 cases . the following table summarizes the components included in reorganization items , net on aag 2019s consolidated statement of operations for the year ended december 31 , 2013 ( in millions ) : . <table class='wikitable'><tr><td>1</td><td></td><td>2013</td></tr><tr><td>2</td><td>labor-related deemed claim ( 1 )</td><td>$ 1733</td></tr><tr><td>3</td><td>aircraft and facility financing renegotiations and rejections ( 2 ) ( 3 )</td><td>325</td></tr><tr><td>4</td><td>fair value of conversion discount ( 4 )</td><td>218</td></tr><tr><td>5</td><td>professional fees</td><td>199</td></tr><tr><td>6</td><td>other</td><td>180</td></tr><tr><td>7</td><td>total reorganization items net</td><td>$ 2655</td></tr></table> ( 1 ) in exchange for employees 2019 contributions to the successful reorganization , including agreeing to reductions in pay and benefits , we agreed in the plan to provide each employee group a deemed claim , which was used to provide a distribution of a portion of the equity of the reorganized entity to those employees . each employee group received a deemed claim amount based upon a portion of the value of cost savings provided by that group through reductions to pay and benefits as well as through certain work rule changes . the total value of this deemed claim was approximately $ 1.7 billion . ( 2 ) amounts include allowed claims ( claims approved by the bankruptcy court ) and estimated allowed claims relating to ( i ) the rejection or modification of financings related to aircraft and ( ii ) entry of orders treated as unsecured claims with respect to facility agreements supporting certain issuances of special facility revenue bonds . the debtors recorded an estimated claim associated with the rejection or modification of a financing or facility agreement when the applicable motion was filed with the bankruptcy court to reject or modify such financing or facility agreement and the debtors believed that it was probable the motion would be approved , and there was sufficient information to estimate the claim . see note 2 to aag 2019s consolidated financial statements in part ii , item 8a for further information . ( 3 ) pursuant to the plan , the debtors agreed to allow certain post-petition unsecured claims on obligations . as a result , during the year ended december 31 , 2013 , we recorded reorganization charges to adjust estimated allowed claim amounts previously recorded on rejected special facility revenue bonds of $ 180 million , allowed general unsecured claims related to the 1990 and 1994 series of special facility revenue bonds that financed certain improvements at jfk , and rejected bonds that financed certain improvements at ord , which are included in the table above. . Conversations: Question: in the year of 2013, what percentage did the labor-related deemed claim represent in relation to the total re-organization costs? Answer:

0.65273

convfinqa1118

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: table of contents extinguishment costs incurred as a result of the repayment of certain aircraft secured indebtedness , including cash interest charges and non-cash write offs of unamortized debt issuance costs . as a result of the 2013 refinancing activities and the early extinguishment of american 2019s 7.50% ( 7.50 % ) senior secured notes in 2014 , we recognized $ 100 million less interest expense in 2014 as compared to the 2013 period . other nonoperating expense , net in 2014 consisted principally of net foreign currency losses of $ 114 million and early debt extinguishment charges of $ 56 million . other nonoperating expense , net in 2013 consisted principally of net foreign currency losses of $ 56 million and early debt extinguishment charges of $ 29 million . other nonoperating expense , net increased $ 64 million , or 73.1% ( 73.1 % ) , during 2014 primarily due to special charges recognized as a result of early debt extinguishment and an increase in foreign currency losses driven by the strengthening of the u.s . dollar in foreign currency transactions , principally in latin american markets . we recorded a $ 43 million special charge for venezuelan foreign currency losses in 2014 . see part ii , item 7a . quantitative and qualitative disclosures about market risk for further discussion of our cash held in venezuelan bolivars . in addition , our 2014 nonoperating special items included $ 56 million primarily related to the early extinguishment of american 2019s 7.50% ( 7.50 % ) senior secured notes and other indebtedness . reorganization items , net reorganization items refer to revenues , expenses ( including professional fees ) , realized gains and losses and provisions for losses that are realized or incurred as a direct result of the chapter 11 cases . the following table summarizes the components included in reorganization items , net on aag 2019s consolidated statement of operations for the year ended december 31 , 2013 ( in millions ) : . <table class='wikitable'><tr><td>1</td><td></td><td>2013</td></tr><tr><td>2</td><td>labor-related deemed claim ( 1 )</td><td>$ 1733</td></tr><tr><td>3</td><td>aircraft and facility financing renegotiations and rejections ( 2 ) ( 3 )</td><td>325</td></tr><tr><td>4</td><td>fair value of conversion discount ( 4 )</td><td>218</td></tr><tr><td>5</td><td>professional fees</td><td>199</td></tr><tr><td>6</td><td>other</td><td>180</td></tr><tr><td>7</td><td>total reorganization items net</td><td>$ 2655</td></tr></table> ( 1 ) in exchange for employees 2019 contributions to the successful reorganization , including agreeing to reductions in pay and benefits , we agreed in the plan to provide each employee group a deemed claim , which was used to provide a distribution of a portion of the equity of the reorganized entity to those employees . each employee group received a deemed claim amount based upon a portion of the value of cost savings provided by that group through reductions to pay and benefits as well as through certain work rule changes . the total value of this deemed claim was approximately $ 1.7 billion . ( 2 ) amounts include allowed claims ( claims approved by the bankruptcy court ) and estimated allowed claims relating to ( i ) the rejection or modification of financings related to aircraft and ( ii ) entry of orders treated as unsecured claims with respect to facility agreements supporting certain issuances of special facility revenue bonds . the debtors recorded an estimated claim associated with the rejection or modification of a financing or facility agreement when the applicable motion was filed with the bankruptcy court to reject or modify such financing or facility agreement and the debtors believed that it was probable the motion would be approved , and there was sufficient information to estimate the claim . see note 2 to aag 2019s consolidated financial statements in part ii , item 8a for further information . ( 3 ) pursuant to the plan , the debtors agreed to allow certain post-petition unsecured claims on obligations . as a result , during the year ended december 31 , 2013 , we recorded reorganization charges to adjust estimated allowed claim amounts previously recorded on rejected special facility revenue bonds of $ 180 million , allowed general unsecured claims related to the 1990 and 1994 series of special facility revenue bonds that financed certain improvements at jfk , and rejected bonds that financed certain improvements at ord , which are included in the table above. . Conversations: q0: in the year of 2013, what percentage did the labor-related deemed claim represent in relation to the total re-organization costs? 0.65273 Question: and how much did it represent in relation to the professional fees? Answer:

0.87085

convfinqa1119

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: subscription cost of subscription revenue consists of third-party royalties and expenses related to operating our network infrastructure , including depreciation expenses and operating lease payments associated with computer equipment , data center costs , salaries and related expenses of network operations , implementation , account management and technical support personnel , amortization of intangible assets and allocated overhead . we enter into contracts with third-parties for the use of their data center facilities and our data center costs largely consist of the amounts we pay to these third parties for rack space , power and similar items . cost of subscription revenue increased due to the following : % ( % ) change 2014-2013 % ( % ) change 2013-2012 . <table class='wikitable'><tr><td>1</td><td></td><td>% ( % ) change2014-2013</td><td>% ( % ) change2013-2012</td></tr><tr><td>2</td><td>data center cost</td><td>10% ( 10 % )</td><td>11% ( 11 % )</td></tr><tr><td>3</td><td>compensation cost and related benefits associated with headcount</td><td>4</td><td>5</td></tr><tr><td>4</td><td>depreciation expense</td><td>3</td><td>3</td></tr><tr><td>5</td><td>royalty cost</td><td>3</td><td>4</td></tr><tr><td>6</td><td>amortization of purchased intangibles</td><td>2014</td><td>4</td></tr><tr><td>7</td><td>various individually insignificant items</td><td>1</td><td>2014</td></tr><tr><td>8</td><td>total change</td><td>21% ( 21 % )</td><td>27% ( 27 % )</td></tr></table> cost of subscription revenue increased during fiscal 2014 as compared to fiscal 2013 primarily due to data center costs , compensation cost and related benefits , deprecation expense , and royalty cost . data center costs increased as compared with the year-ago period primarily due to higher transaction volumes in our adobe marketing cloud and creative cloud services . compensation cost and related benefits increased as compared to the year-ago period primarily due to additional headcount in fiscal 2014 , including from our acquisition of neolane in the third quarter of fiscal 2013 . depreciation expense increased as compared to the year-ago period primarily due to higher capital expenditures in recent periods as we continue to invest in our network and data center infrastructure to support the growth of our business . royalty cost increased primarily due to increases in subscriptions and downloads of our saas offerings . cost of subscription revenue increased during fiscal 2013 as compared to fiscal 2012 primarily due to increased hosted server costs and amortization of purchased intangibles . hosted server costs increased primarily due to increases in data center costs related to higher transaction volumes in our adobe marketing cloud and creative cloud services , depreciation expense from higher capital expenditures in prior years and compensation and related benefits driven by additional headcount . amortization of purchased intangibles increased primarily due to increased amortization of intangible assets purchased associated with our acquisitions of behance and neolane in fiscal 2013 . services and support cost of services and support revenue is primarily comprised of employee-related costs and associated costs incurred to provide consulting services , training and product support . cost of services and support revenue increased during fiscal 2014 as compared to fiscal 2013 primarily due to increases in compensation and related benefits driven by additional headcount and third-party fees related to training and consulting services provided to our customers . cost of services and support revenue increased during fiscal 2013 as compared to fiscal 2012 primarily due to increases in third-party fees related to training and consulting services provided to our customers and compensation and related benefits driven by additional headcount , including headcount from our acquisition of neolane in fiscal 2013. . Conversations: Question: what was the change in percentage points of data center cost between the years of 2014-13 and 2013-12? Answer:

-1.0

convfinqa1120

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: subscription cost of subscription revenue consists of third-party royalties and expenses related to operating our network infrastructure , including depreciation expenses and operating lease payments associated with computer equipment , data center costs , salaries and related expenses of network operations , implementation , account management and technical support personnel , amortization of intangible assets and allocated overhead . we enter into contracts with third-parties for the use of their data center facilities and our data center costs largely consist of the amounts we pay to these third parties for rack space , power and similar items . cost of subscription revenue increased due to the following : % ( % ) change 2014-2013 % ( % ) change 2013-2012 . <table class='wikitable'><tr><td>1</td><td></td><td>% ( % ) change2014-2013</td><td>% ( % ) change2013-2012</td></tr><tr><td>2</td><td>data center cost</td><td>10% ( 10 % )</td><td>11% ( 11 % )</td></tr><tr><td>3</td><td>compensation cost and related benefits associated with headcount</td><td>4</td><td>5</td></tr><tr><td>4</td><td>depreciation expense</td><td>3</td><td>3</td></tr><tr><td>5</td><td>royalty cost</td><td>3</td><td>4</td></tr><tr><td>6</td><td>amortization of purchased intangibles</td><td>2014</td><td>4</td></tr><tr><td>7</td><td>various individually insignificant items</td><td>1</td><td>2014</td></tr><tr><td>8</td><td>total change</td><td>21% ( 21 % )</td><td>27% ( 27 % )</td></tr></table> cost of subscription revenue increased during fiscal 2014 as compared to fiscal 2013 primarily due to data center costs , compensation cost and related benefits , deprecation expense , and royalty cost . data center costs increased as compared with the year-ago period primarily due to higher transaction volumes in our adobe marketing cloud and creative cloud services . compensation cost and related benefits increased as compared to the year-ago period primarily due to additional headcount in fiscal 2014 , including from our acquisition of neolane in the third quarter of fiscal 2013 . depreciation expense increased as compared to the year-ago period primarily due to higher capital expenditures in recent periods as we continue to invest in our network and data center infrastructure to support the growth of our business . royalty cost increased primarily due to increases in subscriptions and downloads of our saas offerings . cost of subscription revenue increased during fiscal 2013 as compared to fiscal 2012 primarily due to increased hosted server costs and amortization of purchased intangibles . hosted server costs increased primarily due to increases in data center costs related to higher transaction volumes in our adobe marketing cloud and creative cloud services , depreciation expense from higher capital expenditures in prior years and compensation and related benefits driven by additional headcount . amortization of purchased intangibles increased primarily due to increased amortization of intangible assets purchased associated with our acquisitions of behance and neolane in fiscal 2013 . services and support cost of services and support revenue is primarily comprised of employee-related costs and associated costs incurred to provide consulting services , training and product support . cost of services and support revenue increased during fiscal 2014 as compared to fiscal 2013 primarily due to increases in compensation and related benefits driven by additional headcount and third-party fees related to training and consulting services provided to our customers . cost of services and support revenue increased during fiscal 2013 as compared to fiscal 2012 primarily due to increases in third-party fees related to training and consulting services provided to our customers and compensation and related benefits driven by additional headcount , including headcount from our acquisition of neolane in fiscal 2013. . Conversations: q0: what was the change in percentage points of data center cost between the years of 2014-13 and 2013-12? -1.0 Question: for the same years, what was the change in percentage points of depreciation expense? Answer:

0.0

convfinqa1121

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: note 6 : allowance for uncollectible accounts the following table provides the changes in the allowances for uncollectible accounts for the years ended december 31: . <table class='wikitable'><tr><td>1</td><td></td><td>2018</td><td>2017</td><td>2016</td></tr><tr><td>2</td><td>balance as of january 1</td><td>$ -42 ( 42 )</td><td>$ -40 ( 40 )</td><td>$ -39 ( 39 )</td></tr><tr><td>3</td><td>amounts charged to expense</td><td>-33 ( 33 )</td><td>-29 ( 29 )</td><td>-27 ( 27 )</td></tr><tr><td>4</td><td>amounts written off</td><td>34</td><td>30</td><td>29</td></tr><tr><td>5</td><td>recoveries of amounts written off</td><td>-4 ( 4 )</td><td>-3 ( 3 )</td><td>-3 ( 3 )</td></tr><tr><td>6</td><td>balance as of december 31</td><td>$ -45 ( 45 )</td><td>$ -42 ( 42 )</td><td>$ -40 ( 40 )</td></tr></table> note 7 : regulatory assets and liabilities regulatory assets regulatory assets represent costs that are probable of recovery from customers in future rates . the majority of the regulatory assets earn a return . the following table provides the composition of regulatory assets as of december 31 : 2018 2017 deferred pension expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 362 $ 285 removal costs recoverable through rates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 292 269 regulatory balancing accounts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 110 113 san clemente dam project costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 85 89 debt expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 70 67 purchase premium recoverable through rates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56 57 deferred tank painting costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42 42 make-whole premium on early extinguishment of debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33 27 other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 106 112 total regulatory assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1156 $ 1061 the company 2019s deferred pension expense includes a portion of the underfunded status that is probable of recovery through rates in future periods of $ 352 million and $ 270 million as of december 31 , 2018 and 2017 , respectively . the remaining portion is the pension expense in excess of the amount contributed to the pension plans which is deferred by certain subsidiaries and will be recovered in future service rates as contributions are made to the pension plan . removal costs recoverable through rates represent costs incurred for removal of property , plant and equipment or other retirement costs . regulatory balancing accounts accumulate differences between revenues recognized and authorized revenue requirements until they are collected from customers or are refunded . regulatory balancing accounts include low income programs and purchased power and water accounts . san clemente dam project costs represent costs incurred and deferred by the company 2019s utility subsidiary in california pursuant to its efforts to investigate alternatives and remove the dam due to potential earthquake and flood safety concerns . in june 2012 , the california public utilities commission ( 201ccpuc 201d ) issued a decision authorizing implementation of a project to reroute the carmel river and remove the san clemente dam . the project includes the company 2019s utility subsidiary in california , the california state conservancy and the national marine fisheries services . under the order 2019s terms , the cpuc has authorized recovery for . Conversations: Question: what was the balance of noncollectable accounts? Answer:

42.0

convfinqa1122

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: note 6 : allowance for uncollectible accounts the following table provides the changes in the allowances for uncollectible accounts for the years ended december 31: . <table class='wikitable'><tr><td>1</td><td></td><td>2018</td><td>2017</td><td>2016</td></tr><tr><td>2</td><td>balance as of january 1</td><td>$ -42 ( 42 )</td><td>$ -40 ( 40 )</td><td>$ -39 ( 39 )</td></tr><tr><td>3</td><td>amounts charged to expense</td><td>-33 ( 33 )</td><td>-29 ( 29 )</td><td>-27 ( 27 )</td></tr><tr><td>4</td><td>amounts written off</td><td>34</td><td>30</td><td>29</td></tr><tr><td>5</td><td>recoveries of amounts written off</td><td>-4 ( 4 )</td><td>-3 ( 3 )</td><td>-3 ( 3 )</td></tr><tr><td>6</td><td>balance as of december 31</td><td>$ -45 ( 45 )</td><td>$ -42 ( 42 )</td><td>$ -40 ( 40 )</td></tr></table> note 7 : regulatory assets and liabilities regulatory assets regulatory assets represent costs that are probable of recovery from customers in future rates . the majority of the regulatory assets earn a return . the following table provides the composition of regulatory assets as of december 31 : 2018 2017 deferred pension expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 362 $ 285 removal costs recoverable through rates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 292 269 regulatory balancing accounts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 110 113 san clemente dam project costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 85 89 debt expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 70 67 purchase premium recoverable through rates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56 57 deferred tank painting costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42 42 make-whole premium on early extinguishment of debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33 27 other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 106 112 total regulatory assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1156 $ 1061 the company 2019s deferred pension expense includes a portion of the underfunded status that is probable of recovery through rates in future periods of $ 352 million and $ 270 million as of december 31 , 2018 and 2017 , respectively . the remaining portion is the pension expense in excess of the amount contributed to the pension plans which is deferred by certain subsidiaries and will be recovered in future service rates as contributions are made to the pension plan . removal costs recoverable through rates represent costs incurred for removal of property , plant and equipment or other retirement costs . regulatory balancing accounts accumulate differences between revenues recognized and authorized revenue requirements until they are collected from customers or are refunded . regulatory balancing accounts include low income programs and purchased power and water accounts . san clemente dam project costs represent costs incurred and deferred by the company 2019s utility subsidiary in california pursuant to its efforts to investigate alternatives and remove the dam due to potential earthquake and flood safety concerns . in june 2012 , the california public utilities commission ( 201ccpuc 201d ) issued a decision authorizing implementation of a project to reroute the carmel river and remove the san clemente dam . the project includes the company 2019s utility subsidiary in california , the california state conservancy and the national marine fisheries services . under the order 2019s terms , the cpuc has authorized recovery for . Conversations: q0: what was the balance of noncollectable accounts? 42.0 Question: what is that balance times itself? Answer:

-42.0

convfinqa1123

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: note 6 : allowance for uncollectible accounts the following table provides the changes in the allowances for uncollectible accounts for the years ended december 31: . <table class='wikitable'><tr><td>1</td><td></td><td>2018</td><td>2017</td><td>2016</td></tr><tr><td>2</td><td>balance as of january 1</td><td>$ -42 ( 42 )</td><td>$ -40 ( 40 )</td><td>$ -39 ( 39 )</td></tr><tr><td>3</td><td>amounts charged to expense</td><td>-33 ( 33 )</td><td>-29 ( 29 )</td><td>-27 ( 27 )</td></tr><tr><td>4</td><td>amounts written off</td><td>34</td><td>30</td><td>29</td></tr><tr><td>5</td><td>recoveries of amounts written off</td><td>-4 ( 4 )</td><td>-3 ( 3 )</td><td>-3 ( 3 )</td></tr><tr><td>6</td><td>balance as of december 31</td><td>$ -45 ( 45 )</td><td>$ -42 ( 42 )</td><td>$ -40 ( 40 )</td></tr></table> note 7 : regulatory assets and liabilities regulatory assets regulatory assets represent costs that are probable of recovery from customers in future rates . the majority of the regulatory assets earn a return . the following table provides the composition of regulatory assets as of december 31 : 2018 2017 deferred pension expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 362 $ 285 removal costs recoverable through rates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 292 269 regulatory balancing accounts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 110 113 san clemente dam project costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 85 89 debt expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 70 67 purchase premium recoverable through rates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56 57 deferred tank painting costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42 42 make-whole premium on early extinguishment of debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33 27 other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 106 112 total regulatory assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1156 $ 1061 the company 2019s deferred pension expense includes a portion of the underfunded status that is probable of recovery through rates in future periods of $ 352 million and $ 270 million as of december 31 , 2018 and 2017 , respectively . the remaining portion is the pension expense in excess of the amount contributed to the pension plans which is deferred by certain subsidiaries and will be recovered in future service rates as contributions are made to the pension plan . removal costs recoverable through rates represent costs incurred for removal of property , plant and equipment or other retirement costs . regulatory balancing accounts accumulate differences between revenues recognized and authorized revenue requirements until they are collected from customers or are refunded . regulatory balancing accounts include low income programs and purchased power and water accounts . san clemente dam project costs represent costs incurred and deferred by the company 2019s utility subsidiary in california pursuant to its efforts to investigate alternatives and remove the dam due to potential earthquake and flood safety concerns . in june 2012 , the california public utilities commission ( 201ccpuc 201d ) issued a decision authorizing implementation of a project to reroute the carmel river and remove the san clemente dam . the project includes the company 2019s utility subsidiary in california , the california state conservancy and the national marine fisheries services . under the order 2019s terms , the cpuc has authorized recovery for . Conversations: q0: what was the balance of noncollectable accounts? 42.0 q1: what is that balance times itself? -42.0 Question: what is the product less the december 31 balance? Answer:

3.0

convfinqa1124

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: other expense , net increased $ 0.8 million to $ 7.2 million in 2015 from $ 6.4 million in 2014 . this increase was due to higher net losses on the combined foreign currency exchange rate changes on transactions denominated in foreign currencies and our foreign currency derivative financial instruments in 2015 . provision for income taxes increased $ 19.9 million to $ 154.1 million in 2015 from $ 134.2 million in 2014 . our effective tax rate was 39.9% ( 39.9 % ) in 2015 compared to 39.2% ( 39.2 % ) in 2014 . our effective tax rate for 2015 was higher than the effective tax rate for 2014 primarily due to increased non-deductible costs incurred in connection with our connected fitness acquisitions in 2015 . year ended december 31 , 2014 compared to year ended december 31 , 2013 net revenues increased $ 752.3 million , or 32.3% ( 32.3 % ) , to $ 3084.4 million in 2014 from $ 2332.1 million in 2013 . net revenues by product category are summarized below: . <table class='wikitable'><tr><td>1</td><td>( in thousands )</td><td>year ended december 31 , 2014</td><td>year ended december 31 , 2013</td><td>year ended december 31 , $ change</td><td>year ended december 31 , % ( % ) change</td></tr><tr><td>2</td><td>apparel</td><td>$ 2291520</td><td>$ 1762150</td><td>$ 529370</td><td>30.0% ( 30.0 % )</td></tr><tr><td>3</td><td>footwear</td><td>430987</td><td>298825</td><td>132162</td><td>44.2</td></tr><tr><td>4</td><td>accessories</td><td>275409</td><td>216098</td><td>59311</td><td>27.4</td></tr><tr><td>5</td><td>total net sales</td><td>2997916</td><td>2277073</td><td>720843</td><td>31.7</td></tr><tr><td>6</td><td>license revenues</td><td>67229</td><td>53910</td><td>13319</td><td>24.7</td></tr><tr><td>7</td><td>connected fitness</td><td>19225</td><td>1068</td><td>18157</td><td>1700.1</td></tr><tr><td>8</td><td>total net revenues</td><td>$ 3084370</td><td>$ 2332051</td><td>$ 752319</td><td>32.3% ( 32.3 % )</td></tr></table> the increase in net sales were driven primarily by : 2022 apparel unit sales growth and new offerings in multiple lines led by training , hunt and golf ; and 2022 footwear unit sales growth , led by running and basketball . license revenues increased $ 13.3 million , or 24.7% ( 24.7 % ) , to $ 67.2 million in 2014 from $ 53.9 million in 2013 . this increase in license revenues was primarily a result of increased distribution and continued unit volume growth by our licensees . connected fitness revenue increased $ 18.1 million to $ 19.2 million in 2014 from $ 1.1 million in 2013 primarily due to a full year of revenue from our connected fitness business in 2014 compared to one month in gross profit increased $ 375.5 million to $ 1512.2 million in 2014 from $ 1136.7 million in 2013 . gross profit as a percentage of net revenues , or gross margin , increased 30 basis points to 49.0% ( 49.0 % ) in 2014 compared to 48.7% ( 48.7 % ) in 2013 . the increase in gross margin percentage was primarily driven by the following : 2022 approximate 20 basis point increase driven primarily by decreased sales mix of excess inventory through our factory house outlet stores ; and 2022 approximate 20 basis point increase as a result of higher duty costs recorded during the prior year on certain products imported in previous years . the above increases were partially offset by : 2022 approximate 10 basis point decrease by unfavorable foreign currency exchange rate fluctuations. . Conversations: Question: what was the net change in the value of sales revenues of apparel from 2013 to 2014? Answer:

529370.0

convfinqa1125

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: other expense , net increased $ 0.8 million to $ 7.2 million in 2015 from $ 6.4 million in 2014 . this increase was due to higher net losses on the combined foreign currency exchange rate changes on transactions denominated in foreign currencies and our foreign currency derivative financial instruments in 2015 . provision for income taxes increased $ 19.9 million to $ 154.1 million in 2015 from $ 134.2 million in 2014 . our effective tax rate was 39.9% ( 39.9 % ) in 2015 compared to 39.2% ( 39.2 % ) in 2014 . our effective tax rate for 2015 was higher than the effective tax rate for 2014 primarily due to increased non-deductible costs incurred in connection with our connected fitness acquisitions in 2015 . year ended december 31 , 2014 compared to year ended december 31 , 2013 net revenues increased $ 752.3 million , or 32.3% ( 32.3 % ) , to $ 3084.4 million in 2014 from $ 2332.1 million in 2013 . net revenues by product category are summarized below: . <table class='wikitable'><tr><td>1</td><td>( in thousands )</td><td>year ended december 31 , 2014</td><td>year ended december 31 , 2013</td><td>year ended december 31 , $ change</td><td>year ended december 31 , % ( % ) change</td></tr><tr><td>2</td><td>apparel</td><td>$ 2291520</td><td>$ 1762150</td><td>$ 529370</td><td>30.0% ( 30.0 % )</td></tr><tr><td>3</td><td>footwear</td><td>430987</td><td>298825</td><td>132162</td><td>44.2</td></tr><tr><td>4</td><td>accessories</td><td>275409</td><td>216098</td><td>59311</td><td>27.4</td></tr><tr><td>5</td><td>total net sales</td><td>2997916</td><td>2277073</td><td>720843</td><td>31.7</td></tr><tr><td>6</td><td>license revenues</td><td>67229</td><td>53910</td><td>13319</td><td>24.7</td></tr><tr><td>7</td><td>connected fitness</td><td>19225</td><td>1068</td><td>18157</td><td>1700.1</td></tr><tr><td>8</td><td>total net revenues</td><td>$ 3084370</td><td>$ 2332051</td><td>$ 752319</td><td>32.3% ( 32.3 % )</td></tr></table> the increase in net sales were driven primarily by : 2022 apparel unit sales growth and new offerings in multiple lines led by training , hunt and golf ; and 2022 footwear unit sales growth , led by running and basketball . license revenues increased $ 13.3 million , or 24.7% ( 24.7 % ) , to $ 67.2 million in 2014 from $ 53.9 million in 2013 . this increase in license revenues was primarily a result of increased distribution and continued unit volume growth by our licensees . connected fitness revenue increased $ 18.1 million to $ 19.2 million in 2014 from $ 1.1 million in 2013 primarily due to a full year of revenue from our connected fitness business in 2014 compared to one month in gross profit increased $ 375.5 million to $ 1512.2 million in 2014 from $ 1136.7 million in 2013 . gross profit as a percentage of net revenues , or gross margin , increased 30 basis points to 49.0% ( 49.0 % ) in 2014 compared to 48.7% ( 48.7 % ) in 2013 . the increase in gross margin percentage was primarily driven by the following : 2022 approximate 20 basis point increase driven primarily by decreased sales mix of excess inventory through our factory house outlet stores ; and 2022 approximate 20 basis point increase as a result of higher duty costs recorded during the prior year on certain products imported in previous years . the above increases were partially offset by : 2022 approximate 10 basis point decrease by unfavorable foreign currency exchange rate fluctuations. . Conversations: q0: what was the net change in the value of sales revenues of apparel from 2013 to 2014? 529370.0 Question: what is that divided by the 2013 value? Answer:

0.30041

convfinqa1126

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: part i item 1 . business . general development of business general : altria group , inc . is a holding company incorporated in the commonwealth of virginia in 1985 . at december 31 , 2014 , altria group , inc . 2019s wholly-owned subsidiaries included philip morris usa inc . ( 201cpm usa 201d ) , which is engaged predominantly in the manufacture and sale of cigarettes in the united states ; john middleton co . ( 201cmiddleton 201d ) , which is engaged in the manufacture and sale of machine-made large cigars and pipe tobacco , and is a wholly- owned subsidiary of pm usa ; and ust llc ( 201cust 201d ) , which through its wholly-owned subsidiaries , including u.s . smokeless tobacco company llc ( 201cusstc 201d ) and ste . michelle wine estates ltd . ( 201cste . michelle 201d ) , is engaged in the manufacture and sale of smokeless tobacco products and wine . altria group , inc . 2019s other operating companies included nu mark llc ( 201cnu mark 201d ) , a wholly-owned subsidiary that is engaged in the manufacture and sale of innovative tobacco products , and philip morris capital corporation ( 201cpmcc 201d ) , a wholly-owned subsidiary that maintains a portfolio of finance assets , substantially all of which are leveraged leases . other altria group , inc . wholly-owned subsidiaries included altria group distribution company , which provides sales , distribution and consumer engagement services to certain altria group , inc . operating subsidiaries , and altria client services inc. , which provides various support services , such as legal , regulatory , finance , human resources and external affairs , to altria group , inc . and its subsidiaries . at december 31 , 2014 , altria group , inc . also held approximately 27% ( 27 % ) of the economic and voting interest of sabmiller plc ( 201csabmiller 201d ) , which altria group , inc . accounts for under the equity method of accounting . source of funds : because altria group , inc . is a holding company , its access to the operating cash flows of its wholly- owned subsidiaries consists of cash received from the payment of dividends and distributions , and the payment of interest on intercompany loans by its subsidiaries . at december 31 , 2014 , altria group , inc . 2019s principal wholly-owned subsidiaries were not limited by long-term debt or other agreements in their ability to pay cash dividends or make other distributions with respect to their equity interests . in addition , altria group , inc . receives cash dividends on its interest in sabmiller if and when sabmiller pays such dividends . financial information about segments altria group , inc . 2019s reportable segments are smokeable products , smokeless products and wine . the financial services and the innovative tobacco products businesses are included in an all other category due to the continued reduction of the lease portfolio of pmcc and the relative financial contribution of altria group , inc . 2019s innovative tobacco products businesses to altria group , inc . 2019s consolidated results . altria group , inc . 2019s chief operating decision maker reviews operating companies income to evaluate the performance of , and allocate resources to , the segments . operating companies income for the segments is defined as operating income before amortization of intangibles and general corporate expenses . interest and other debt expense , net , and provision for income taxes are centrally managed at the corporate level and , accordingly , such items are not presented by segment since they are excluded from the measure of segment profitability reviewed by altria group , inc . 2019s chief operating decision maker . net revenues and operating companies income ( together with a reconciliation to earnings before income taxes ) attributable to each such segment for each of the last three years are set forth in note 15 . segment reporting to the consolidated financial statements in item 8 . financial statements and supplementary data of this annual report on form 10-k ( 201citem 8 201d ) . information about total assets by segment is not disclosed because such information is not reported to or used by altria group , inc . 2019s chief operating decision maker . segment goodwill and other intangible assets , net , are disclosed in note 4 . goodwill and other intangible assets , net to the consolidated financial statements in item 8 ( 201cnote 4 201d ) . the accounting policies of the segments are the same as those described in note 2 . summary of significant accounting policies to the consolidated financial statements in item 8 ( 201cnote 2 201d ) . the relative percentages of operating companies income ( loss ) attributable to each reportable segment and the all other category were as follows: . <table class='wikitable'><tr><td>1</td><td></td><td>2014</td><td>2013</td><td>2012</td></tr><tr><td>2</td><td>smokeable products</td><td>87.2% ( 87.2 % )</td><td>84.5% ( 84.5 % )</td><td>83.7% ( 83.7 % )</td></tr><tr><td>3</td><td>smokeless products</td><td>13.4</td><td>12.2</td><td>12.5</td></tr><tr><td>4</td><td>wine</td><td>1.7</td><td>1.4</td><td>1.4</td></tr><tr><td>5</td><td>all other</td><td>-2.3 ( 2.3 )</td><td>1.9</td><td>2.4</td></tr><tr><td>6</td><td>total</td><td>100.0% ( 100.0 % )</td><td>100.0% ( 100.0 % )</td><td>100.0% ( 100.0 % )</td></tr></table> for items affecting the comparability of the relative percentages of operating companies income ( loss ) attributable to each reportable segment , see note 15 . segment reporting to the consolidated financial statements in item 8 ( 201cnote 15 201d ) . narrative description of business portions of the information called for by this item are included in item 7 . management 2019s discussion and analysis of financial condition and results of operations - operating results by business segment of this annual report on form 10-k . tobacco space altria group , inc . 2019s tobacco operating companies include pm usa , usstc and other subsidiaries of ust , middleton and nu mark . altria group distribution company provides sales , distribution and consumer engagement services to altria group , inc . 2019s tobacco operating companies . the products of altria group , inc . 2019s tobacco subsidiaries include smokeable tobacco products comprised of cigarettes manufactured and sold by pm usa and machine-made large altria_mdc_2014form10k_nolinks_crops.pdf 3 2/25/15 5:56 pm . Conversations: Question: what was operating income related to smokeless products in 2014? Answer:

13.4

convfinqa1127

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: part i item 1 . business . general development of business general : altria group , inc . is a holding company incorporated in the commonwealth of virginia in 1985 . at december 31 , 2014 , altria group , inc . 2019s wholly-owned subsidiaries included philip morris usa inc . ( 201cpm usa 201d ) , which is engaged predominantly in the manufacture and sale of cigarettes in the united states ; john middleton co . ( 201cmiddleton 201d ) , which is engaged in the manufacture and sale of machine-made large cigars and pipe tobacco , and is a wholly- owned subsidiary of pm usa ; and ust llc ( 201cust 201d ) , which through its wholly-owned subsidiaries , including u.s . smokeless tobacco company llc ( 201cusstc 201d ) and ste . michelle wine estates ltd . ( 201cste . michelle 201d ) , is engaged in the manufacture and sale of smokeless tobacco products and wine . altria group , inc . 2019s other operating companies included nu mark llc ( 201cnu mark 201d ) , a wholly-owned subsidiary that is engaged in the manufacture and sale of innovative tobacco products , and philip morris capital corporation ( 201cpmcc 201d ) , a wholly-owned subsidiary that maintains a portfolio of finance assets , substantially all of which are leveraged leases . other altria group , inc . wholly-owned subsidiaries included altria group distribution company , which provides sales , distribution and consumer engagement services to certain altria group , inc . operating subsidiaries , and altria client services inc. , which provides various support services , such as legal , regulatory , finance , human resources and external affairs , to altria group , inc . and its subsidiaries . at december 31 , 2014 , altria group , inc . also held approximately 27% ( 27 % ) of the economic and voting interest of sabmiller plc ( 201csabmiller 201d ) , which altria group , inc . accounts for under the equity method of accounting . source of funds : because altria group , inc . is a holding company , its access to the operating cash flows of its wholly- owned subsidiaries consists of cash received from the payment of dividends and distributions , and the payment of interest on intercompany loans by its subsidiaries . at december 31 , 2014 , altria group , inc . 2019s principal wholly-owned subsidiaries were not limited by long-term debt or other agreements in their ability to pay cash dividends or make other distributions with respect to their equity interests . in addition , altria group , inc . receives cash dividends on its interest in sabmiller if and when sabmiller pays such dividends . financial information about segments altria group , inc . 2019s reportable segments are smokeable products , smokeless products and wine . the financial services and the innovative tobacco products businesses are included in an all other category due to the continued reduction of the lease portfolio of pmcc and the relative financial contribution of altria group , inc . 2019s innovative tobacco products businesses to altria group , inc . 2019s consolidated results . altria group , inc . 2019s chief operating decision maker reviews operating companies income to evaluate the performance of , and allocate resources to , the segments . operating companies income for the segments is defined as operating income before amortization of intangibles and general corporate expenses . interest and other debt expense , net , and provision for income taxes are centrally managed at the corporate level and , accordingly , such items are not presented by segment since they are excluded from the measure of segment profitability reviewed by altria group , inc . 2019s chief operating decision maker . net revenues and operating companies income ( together with a reconciliation to earnings before income taxes ) attributable to each such segment for each of the last three years are set forth in note 15 . segment reporting to the consolidated financial statements in item 8 . financial statements and supplementary data of this annual report on form 10-k ( 201citem 8 201d ) . information about total assets by segment is not disclosed because such information is not reported to or used by altria group , inc . 2019s chief operating decision maker . segment goodwill and other intangible assets , net , are disclosed in note 4 . goodwill and other intangible assets , net to the consolidated financial statements in item 8 ( 201cnote 4 201d ) . the accounting policies of the segments are the same as those described in note 2 . summary of significant accounting policies to the consolidated financial statements in item 8 ( 201cnote 2 201d ) . the relative percentages of operating companies income ( loss ) attributable to each reportable segment and the all other category were as follows: . <table class='wikitable'><tr><td>1</td><td></td><td>2014</td><td>2013</td><td>2012</td></tr><tr><td>2</td><td>smokeable products</td><td>87.2% ( 87.2 % )</td><td>84.5% ( 84.5 % )</td><td>83.7% ( 83.7 % )</td></tr><tr><td>3</td><td>smokeless products</td><td>13.4</td><td>12.2</td><td>12.5</td></tr><tr><td>4</td><td>wine</td><td>1.7</td><td>1.4</td><td>1.4</td></tr><tr><td>5</td><td>all other</td><td>-2.3 ( 2.3 )</td><td>1.9</td><td>2.4</td></tr><tr><td>6</td><td>total</td><td>100.0% ( 100.0 % )</td><td>100.0% ( 100.0 % )</td><td>100.0% ( 100.0 % )</td></tr></table> for items affecting the comparability of the relative percentages of operating companies income ( loss ) attributable to each reportable segment , see note 15 . segment reporting to the consolidated financial statements in item 8 ( 201cnote 15 201d ) . narrative description of business portions of the information called for by this item are included in item 7 . management 2019s discussion and analysis of financial condition and results of operations - operating results by business segment of this annual report on form 10-k . tobacco space altria group , inc . 2019s tobacco operating companies include pm usa , usstc and other subsidiaries of ust , middleton and nu mark . altria group distribution company provides sales , distribution and consumer engagement services to altria group , inc . 2019s tobacco operating companies . the products of altria group , inc . 2019s tobacco subsidiaries include smokeable tobacco products comprised of cigarettes manufactured and sold by pm usa and machine-made large altria_mdc_2014form10k_nolinks_crops.pdf 3 2/25/15 5:56 pm . Conversations: q0: what was operating income related to smokeless products in 2014? 13.4 Question: what was the value in 2013? Answer:

12.2

convfinqa1128

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: part i item 1 . business . general development of business general : altria group , inc . is a holding company incorporated in the commonwealth of virginia in 1985 . at december 31 , 2014 , altria group , inc . 2019s wholly-owned subsidiaries included philip morris usa inc . ( 201cpm usa 201d ) , which is engaged predominantly in the manufacture and sale of cigarettes in the united states ; john middleton co . ( 201cmiddleton 201d ) , which is engaged in the manufacture and sale of machine-made large cigars and pipe tobacco , and is a wholly- owned subsidiary of pm usa ; and ust llc ( 201cust 201d ) , which through its wholly-owned subsidiaries , including u.s . smokeless tobacco company llc ( 201cusstc 201d ) and ste . michelle wine estates ltd . ( 201cste . michelle 201d ) , is engaged in the manufacture and sale of smokeless tobacco products and wine . altria group , inc . 2019s other operating companies included nu mark llc ( 201cnu mark 201d ) , a wholly-owned subsidiary that is engaged in the manufacture and sale of innovative tobacco products , and philip morris capital corporation ( 201cpmcc 201d ) , a wholly-owned subsidiary that maintains a portfolio of finance assets , substantially all of which are leveraged leases . other altria group , inc . wholly-owned subsidiaries included altria group distribution company , which provides sales , distribution and consumer engagement services to certain altria group , inc . operating subsidiaries , and altria client services inc. , which provides various support services , such as legal , regulatory , finance , human resources and external affairs , to altria group , inc . and its subsidiaries . at december 31 , 2014 , altria group , inc . also held approximately 27% ( 27 % ) of the economic and voting interest of sabmiller plc ( 201csabmiller 201d ) , which altria group , inc . accounts for under the equity method of accounting . source of funds : because altria group , inc . is a holding company , its access to the operating cash flows of its wholly- owned subsidiaries consists of cash received from the payment of dividends and distributions , and the payment of interest on intercompany loans by its subsidiaries . at december 31 , 2014 , altria group , inc . 2019s principal wholly-owned subsidiaries were not limited by long-term debt or other agreements in their ability to pay cash dividends or make other distributions with respect to their equity interests . in addition , altria group , inc . receives cash dividends on its interest in sabmiller if and when sabmiller pays such dividends . financial information about segments altria group , inc . 2019s reportable segments are smokeable products , smokeless products and wine . the financial services and the innovative tobacco products businesses are included in an all other category due to the continued reduction of the lease portfolio of pmcc and the relative financial contribution of altria group , inc . 2019s innovative tobacco products businesses to altria group , inc . 2019s consolidated results . altria group , inc . 2019s chief operating decision maker reviews operating companies income to evaluate the performance of , and allocate resources to , the segments . operating companies income for the segments is defined as operating income before amortization of intangibles and general corporate expenses . interest and other debt expense , net , and provision for income taxes are centrally managed at the corporate level and , accordingly , such items are not presented by segment since they are excluded from the measure of segment profitability reviewed by altria group , inc . 2019s chief operating decision maker . net revenues and operating companies income ( together with a reconciliation to earnings before income taxes ) attributable to each such segment for each of the last three years are set forth in note 15 . segment reporting to the consolidated financial statements in item 8 . financial statements and supplementary data of this annual report on form 10-k ( 201citem 8 201d ) . information about total assets by segment is not disclosed because such information is not reported to or used by altria group , inc . 2019s chief operating decision maker . segment goodwill and other intangible assets , net , are disclosed in note 4 . goodwill and other intangible assets , net to the consolidated financial statements in item 8 ( 201cnote 4 201d ) . the accounting policies of the segments are the same as those described in note 2 . summary of significant accounting policies to the consolidated financial statements in item 8 ( 201cnote 2 201d ) . the relative percentages of operating companies income ( loss ) attributable to each reportable segment and the all other category were as follows: . <table class='wikitable'><tr><td>1</td><td></td><td>2014</td><td>2013</td><td>2012</td></tr><tr><td>2</td><td>smokeable products</td><td>87.2% ( 87.2 % )</td><td>84.5% ( 84.5 % )</td><td>83.7% ( 83.7 % )</td></tr><tr><td>3</td><td>smokeless products</td><td>13.4</td><td>12.2</td><td>12.5</td></tr><tr><td>4</td><td>wine</td><td>1.7</td><td>1.4</td><td>1.4</td></tr><tr><td>5</td><td>all other</td><td>-2.3 ( 2.3 )</td><td>1.9</td><td>2.4</td></tr><tr><td>6</td><td>total</td><td>100.0% ( 100.0 % )</td><td>100.0% ( 100.0 % )</td><td>100.0% ( 100.0 % )</td></tr></table> for items affecting the comparability of the relative percentages of operating companies income ( loss ) attributable to each reportable segment , see note 15 . segment reporting to the consolidated financial statements in item 8 ( 201cnote 15 201d ) . narrative description of business portions of the information called for by this item are included in item 7 . management 2019s discussion and analysis of financial condition and results of operations - operating results by business segment of this annual report on form 10-k . tobacco space altria group , inc . 2019s tobacco operating companies include pm usa , usstc and other subsidiaries of ust , middleton and nu mark . altria group distribution company provides sales , distribution and consumer engagement services to altria group , inc . 2019s tobacco operating companies . the products of altria group , inc . 2019s tobacco subsidiaries include smokeable tobacco products comprised of cigarettes manufactured and sold by pm usa and machine-made large altria_mdc_2014form10k_nolinks_crops.pdf 3 2/25/15 5:56 pm . Conversations: q0: what was operating income related to smokeless products in 2014? 13.4 q1: what was the value in 2013? 12.2 Question: what is the net change in value? Answer:

1.2

convfinqa1129

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: part i item 1 . business . general development of business general : altria group , inc . is a holding company incorporated in the commonwealth of virginia in 1985 . at december 31 , 2014 , altria group , inc . 2019s wholly-owned subsidiaries included philip morris usa inc . ( 201cpm usa 201d ) , which is engaged predominantly in the manufacture and sale of cigarettes in the united states ; john middleton co . ( 201cmiddleton 201d ) , which is engaged in the manufacture and sale of machine-made large cigars and pipe tobacco , and is a wholly- owned subsidiary of pm usa ; and ust llc ( 201cust 201d ) , which through its wholly-owned subsidiaries , including u.s . smokeless tobacco company llc ( 201cusstc 201d ) and ste . michelle wine estates ltd . ( 201cste . michelle 201d ) , is engaged in the manufacture and sale of smokeless tobacco products and wine . altria group , inc . 2019s other operating companies included nu mark llc ( 201cnu mark 201d ) , a wholly-owned subsidiary that is engaged in the manufacture and sale of innovative tobacco products , and philip morris capital corporation ( 201cpmcc 201d ) , a wholly-owned subsidiary that maintains a portfolio of finance assets , substantially all of which are leveraged leases . other altria group , inc . wholly-owned subsidiaries included altria group distribution company , which provides sales , distribution and consumer engagement services to certain altria group , inc . operating subsidiaries , and altria client services inc. , which provides various support services , such as legal , regulatory , finance , human resources and external affairs , to altria group , inc . and its subsidiaries . at december 31 , 2014 , altria group , inc . also held approximately 27% ( 27 % ) of the economic and voting interest of sabmiller plc ( 201csabmiller 201d ) , which altria group , inc . accounts for under the equity method of accounting . source of funds : because altria group , inc . is a holding company , its access to the operating cash flows of its wholly- owned subsidiaries consists of cash received from the payment of dividends and distributions , and the payment of interest on intercompany loans by its subsidiaries . at december 31 , 2014 , altria group , inc . 2019s principal wholly-owned subsidiaries were not limited by long-term debt or other agreements in their ability to pay cash dividends or make other distributions with respect to their equity interests . in addition , altria group , inc . receives cash dividends on its interest in sabmiller if and when sabmiller pays such dividends . financial information about segments altria group , inc . 2019s reportable segments are smokeable products , smokeless products and wine . the financial services and the innovative tobacco products businesses are included in an all other category due to the continued reduction of the lease portfolio of pmcc and the relative financial contribution of altria group , inc . 2019s innovative tobacco products businesses to altria group , inc . 2019s consolidated results . altria group , inc . 2019s chief operating decision maker reviews operating companies income to evaluate the performance of , and allocate resources to , the segments . operating companies income for the segments is defined as operating income before amortization of intangibles and general corporate expenses . interest and other debt expense , net , and provision for income taxes are centrally managed at the corporate level and , accordingly , such items are not presented by segment since they are excluded from the measure of segment profitability reviewed by altria group , inc . 2019s chief operating decision maker . net revenues and operating companies income ( together with a reconciliation to earnings before income taxes ) attributable to each such segment for each of the last three years are set forth in note 15 . segment reporting to the consolidated financial statements in item 8 . financial statements and supplementary data of this annual report on form 10-k ( 201citem 8 201d ) . information about total assets by segment is not disclosed because such information is not reported to or used by altria group , inc . 2019s chief operating decision maker . segment goodwill and other intangible assets , net , are disclosed in note 4 . goodwill and other intangible assets , net to the consolidated financial statements in item 8 ( 201cnote 4 201d ) . the accounting policies of the segments are the same as those described in note 2 . summary of significant accounting policies to the consolidated financial statements in item 8 ( 201cnote 2 201d ) . the relative percentages of operating companies income ( loss ) attributable to each reportable segment and the all other category were as follows: . <table class='wikitable'><tr><td>1</td><td></td><td>2014</td><td>2013</td><td>2012</td></tr><tr><td>2</td><td>smokeable products</td><td>87.2% ( 87.2 % )</td><td>84.5% ( 84.5 % )</td><td>83.7% ( 83.7 % )</td></tr><tr><td>3</td><td>smokeless products</td><td>13.4</td><td>12.2</td><td>12.5</td></tr><tr><td>4</td><td>wine</td><td>1.7</td><td>1.4</td><td>1.4</td></tr><tr><td>5</td><td>all other</td><td>-2.3 ( 2.3 )</td><td>1.9</td><td>2.4</td></tr><tr><td>6</td><td>total</td><td>100.0% ( 100.0 % )</td><td>100.0% ( 100.0 % )</td><td>100.0% ( 100.0 % )</td></tr></table> for items affecting the comparability of the relative percentages of operating companies income ( loss ) attributable to each reportable segment , see note 15 . segment reporting to the consolidated financial statements in item 8 ( 201cnote 15 201d ) . narrative description of business portions of the information called for by this item are included in item 7 . management 2019s discussion and analysis of financial condition and results of operations - operating results by business segment of this annual report on form 10-k . tobacco space altria group , inc . 2019s tobacco operating companies include pm usa , usstc and other subsidiaries of ust , middleton and nu mark . altria group distribution company provides sales , distribution and consumer engagement services to altria group , inc . 2019s tobacco operating companies . the products of altria group , inc . 2019s tobacco subsidiaries include smokeable tobacco products comprised of cigarettes manufactured and sold by pm usa and machine-made large altria_mdc_2014form10k_nolinks_crops.pdf 3 2/25/15 5:56 pm . Conversations: q0: what was operating income related to smokeless products in 2014? 13.4 q1: what was the value in 2013? 12.2 q2: what is the net change in value? 1.2 Question: what is the percent change? Answer:

0.09836

convfinqa1130

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: the analysis of our depreciation studies . changes in the estimated service lives of our assets and their related depreciation rates are implemented prospectively . under group depreciation , the historical cost ( net of salvage ) of depreciable property that is retired or replaced in the ordinary course of business is charged to accumulated depreciation and no gain or loss is recognized . the historical cost of certain track assets is estimated using ( i ) inflation indices published by the bureau of labor statistics and ( ii ) the estimated useful lives of the assets as determined by our depreciation studies . the indices were selected because they closely correlate with the major costs of the properties comprising the applicable track asset classes . because of the number of estimates inherent in the depreciation and retirement processes and because it is impossible to precisely estimate each of these variables until a group of property is completely retired , we continually monitor the estimated service lives of our assets and the accumulated depreciation associated with each asset class to ensure our depreciation rates are appropriate . in addition , we determine if the recorded amount of accumulated depreciation is deficient ( or in excess ) of the amount indicated by our depreciation studies . any deficiency ( or excess ) is amortized as a component of depreciation expense over the remaining service lives of the applicable classes of assets . for retirements of depreciable railroad properties that do not occur in the normal course of business , a gain or loss may be recognized if the retirement meets each of the following three conditions : ( i ) is unusual , ( ii ) is material in amount , and ( iii ) varies significantly from the retirement profile identified through our depreciation studies . a gain or loss is recognized in other income when we sell land or dispose of assets that are not part of our railroad operations . when we purchase an asset , we capitalize all costs necessary to make the asset ready for its intended use . however , many of our assets are self-constructed . a large portion of our capital expenditures is for replacement of existing track assets and other road properties , which is typically performed by our employees , and for track line expansion and other capacity projects . costs that are directly attributable to capital projects ( including overhead costs ) are capitalized . direct costs that are capitalized as part of self- constructed assets include material , labor , and work equipment . indirect costs are capitalized if they clearly relate to the construction of the asset . general and administrative expenditures are expensed as incurred . normal repairs and maintenance are also expensed as incurred , while costs incurred that extend the useful life of an asset , improve the safety of our operations or improve operating efficiency are capitalized . these costs are allocated using appropriate statistical bases . total expense for repairs and maintenance incurred was $ 2.3 billion for 2013 , $ 2.1 billion for 2012 , and $ 2.2 billion for 2011 . assets held under capital leases are recorded at the lower of the net present value of the minimum lease payments or the fair value of the leased asset at the inception of the lease . amortization expense is computed using the straight-line method over the shorter of the estimated useful lives of the assets or the period of the related lease . 12 . accounts payable and other current liabilities dec . 31 , dec . 31 , millions 2013 2012 . <table class='wikitable'><tr><td>1</td><td>millions</td><td>dec . 31 2013</td><td>dec . 312012</td></tr><tr><td>2</td><td>accounts payable</td><td>$ 803</td><td>$ 825</td></tr><tr><td>3</td><td>income and other taxes payable</td><td>491</td><td>368</td></tr><tr><td>4</td><td>accrued wages and vacation</td><td>385</td><td>376</td></tr><tr><td>5</td><td>dividends payable</td><td>356</td><td>318</td></tr><tr><td>6</td><td>accrued casualty costs</td><td>207</td><td>213</td></tr><tr><td>7</td><td>interest payable</td><td>169</td><td>172</td></tr><tr><td>8</td><td>equipment rents payable</td><td>96</td><td>95</td></tr><tr><td>9</td><td>other</td><td>579</td><td>556</td></tr><tr><td>10</td><td>total accounts payable and othercurrent liabilities</td><td>$ 3086</td><td>$ 2923</td></tr></table> . Conversations: Question: what was the net change in value of total expenses for repairs and maintenance from 2012 to 2013? Answer:

0.2

convfinqa1131

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: the analysis of our depreciation studies . changes in the estimated service lives of our assets and their related depreciation rates are implemented prospectively . under group depreciation , the historical cost ( net of salvage ) of depreciable property that is retired or replaced in the ordinary course of business is charged to accumulated depreciation and no gain or loss is recognized . the historical cost of certain track assets is estimated using ( i ) inflation indices published by the bureau of labor statistics and ( ii ) the estimated useful lives of the assets as determined by our depreciation studies . the indices were selected because they closely correlate with the major costs of the properties comprising the applicable track asset classes . because of the number of estimates inherent in the depreciation and retirement processes and because it is impossible to precisely estimate each of these variables until a group of property is completely retired , we continually monitor the estimated service lives of our assets and the accumulated depreciation associated with each asset class to ensure our depreciation rates are appropriate . in addition , we determine if the recorded amount of accumulated depreciation is deficient ( or in excess ) of the amount indicated by our depreciation studies . any deficiency ( or excess ) is amortized as a component of depreciation expense over the remaining service lives of the applicable classes of assets . for retirements of depreciable railroad properties that do not occur in the normal course of business , a gain or loss may be recognized if the retirement meets each of the following three conditions : ( i ) is unusual , ( ii ) is material in amount , and ( iii ) varies significantly from the retirement profile identified through our depreciation studies . a gain or loss is recognized in other income when we sell land or dispose of assets that are not part of our railroad operations . when we purchase an asset , we capitalize all costs necessary to make the asset ready for its intended use . however , many of our assets are self-constructed . a large portion of our capital expenditures is for replacement of existing track assets and other road properties , which is typically performed by our employees , and for track line expansion and other capacity projects . costs that are directly attributable to capital projects ( including overhead costs ) are capitalized . direct costs that are capitalized as part of self- constructed assets include material , labor , and work equipment . indirect costs are capitalized if they clearly relate to the construction of the asset . general and administrative expenditures are expensed as incurred . normal repairs and maintenance are also expensed as incurred , while costs incurred that extend the useful life of an asset , improve the safety of our operations or improve operating efficiency are capitalized . these costs are allocated using appropriate statistical bases . total expense for repairs and maintenance incurred was $ 2.3 billion for 2013 , $ 2.1 billion for 2012 , and $ 2.2 billion for 2011 . assets held under capital leases are recorded at the lower of the net present value of the minimum lease payments or the fair value of the leased asset at the inception of the lease . amortization expense is computed using the straight-line method over the shorter of the estimated useful lives of the assets or the period of the related lease . 12 . accounts payable and other current liabilities dec . 31 , dec . 31 , millions 2013 2012 . <table class='wikitable'><tr><td>1</td><td>millions</td><td>dec . 31 2013</td><td>dec . 312012</td></tr><tr><td>2</td><td>accounts payable</td><td>$ 803</td><td>$ 825</td></tr><tr><td>3</td><td>income and other taxes payable</td><td>491</td><td>368</td></tr><tr><td>4</td><td>accrued wages and vacation</td><td>385</td><td>376</td></tr><tr><td>5</td><td>dividends payable</td><td>356</td><td>318</td></tr><tr><td>6</td><td>accrued casualty costs</td><td>207</td><td>213</td></tr><tr><td>7</td><td>interest payable</td><td>169</td><td>172</td></tr><tr><td>8</td><td>equipment rents payable</td><td>96</td><td>95</td></tr><tr><td>9</td><td>other</td><td>579</td><td>556</td></tr><tr><td>10</td><td>total accounts payable and othercurrent liabilities</td><td>$ 3086</td><td>$ 2923</td></tr></table> . Conversations: q0: what was the net change in value of total expenses for repairs and maintenance from 2012 to 2013? 0.2 Question: what was the value in 2012? Answer:

2.1

convfinqa1132

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: the analysis of our depreciation studies . changes in the estimated service lives of our assets and their related depreciation rates are implemented prospectively . under group depreciation , the historical cost ( net of salvage ) of depreciable property that is retired or replaced in the ordinary course of business is charged to accumulated depreciation and no gain or loss is recognized . the historical cost of certain track assets is estimated using ( i ) inflation indices published by the bureau of labor statistics and ( ii ) the estimated useful lives of the assets as determined by our depreciation studies . the indices were selected because they closely correlate with the major costs of the properties comprising the applicable track asset classes . because of the number of estimates inherent in the depreciation and retirement processes and because it is impossible to precisely estimate each of these variables until a group of property is completely retired , we continually monitor the estimated service lives of our assets and the accumulated depreciation associated with each asset class to ensure our depreciation rates are appropriate . in addition , we determine if the recorded amount of accumulated depreciation is deficient ( or in excess ) of the amount indicated by our depreciation studies . any deficiency ( or excess ) is amortized as a component of depreciation expense over the remaining service lives of the applicable classes of assets . for retirements of depreciable railroad properties that do not occur in the normal course of business , a gain or loss may be recognized if the retirement meets each of the following three conditions : ( i ) is unusual , ( ii ) is material in amount , and ( iii ) varies significantly from the retirement profile identified through our depreciation studies . a gain or loss is recognized in other income when we sell land or dispose of assets that are not part of our railroad operations . when we purchase an asset , we capitalize all costs necessary to make the asset ready for its intended use . however , many of our assets are self-constructed . a large portion of our capital expenditures is for replacement of existing track assets and other road properties , which is typically performed by our employees , and for track line expansion and other capacity projects . costs that are directly attributable to capital projects ( including overhead costs ) are capitalized . direct costs that are capitalized as part of self- constructed assets include material , labor , and work equipment . indirect costs are capitalized if they clearly relate to the construction of the asset . general and administrative expenditures are expensed as incurred . normal repairs and maintenance are also expensed as incurred , while costs incurred that extend the useful life of an asset , improve the safety of our operations or improve operating efficiency are capitalized . these costs are allocated using appropriate statistical bases . total expense for repairs and maintenance incurred was $ 2.3 billion for 2013 , $ 2.1 billion for 2012 , and $ 2.2 billion for 2011 . assets held under capital leases are recorded at the lower of the net present value of the minimum lease payments or the fair value of the leased asset at the inception of the lease . amortization expense is computed using the straight-line method over the shorter of the estimated useful lives of the assets or the period of the related lease . 12 . accounts payable and other current liabilities dec . 31 , dec . 31 , millions 2013 2012 . <table class='wikitable'><tr><td>1</td><td>millions</td><td>dec . 31 2013</td><td>dec . 312012</td></tr><tr><td>2</td><td>accounts payable</td><td>$ 803</td><td>$ 825</td></tr><tr><td>3</td><td>income and other taxes payable</td><td>491</td><td>368</td></tr><tr><td>4</td><td>accrued wages and vacation</td><td>385</td><td>376</td></tr><tr><td>5</td><td>dividends payable</td><td>356</td><td>318</td></tr><tr><td>6</td><td>accrued casualty costs</td><td>207</td><td>213</td></tr><tr><td>7</td><td>interest payable</td><td>169</td><td>172</td></tr><tr><td>8</td><td>equipment rents payable</td><td>96</td><td>95</td></tr><tr><td>9</td><td>other</td><td>579</td><td>556</td></tr><tr><td>10</td><td>total accounts payable and othercurrent liabilities</td><td>$ 3086</td><td>$ 2923</td></tr></table> . Conversations: q0: what was the net change in value of total expenses for repairs and maintenance from 2012 to 2013? 0.2 q1: what was the value in 2012? 2.1 Question: what is the net change over the 2012 value? Answer:

0.09524

convfinqa1133

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: december 31 , december 31 , december 31 , december 31 , december 31 , december 31 . <table class='wikitable'><tr><td>1</td><td></td><td>december 312011</td><td>december 312012</td><td>december 312013</td><td>december 312014</td><td>december 312015</td><td>december 312016</td></tr><tr><td>2</td><td>disca</td><td>$ 100.00</td><td>$ 154.94</td><td>$ 220.70</td><td>$ 168.17</td><td>$ 130.24</td><td>$ 133.81</td></tr><tr><td>3</td><td>discb</td><td>$ 100.00</td><td>$ 150.40</td><td>$ 217.35</td><td>$ 175.04</td><td>$ 127.80</td><td>$ 137.83</td></tr><tr><td>4</td><td>disck</td><td>$ 100.00</td><td>$ 155.17</td><td>$ 222.44</td><td>$ 178.89</td><td>$ 133.79</td><td>$ 142.07</td></tr><tr><td>5</td><td>s&p 500</td><td>$ 100.00</td><td>$ 113.41</td><td>$ 146.98</td><td>$ 163.72</td><td>$ 162.53</td><td>$ 178.02</td></tr><tr><td>6</td><td>peer group</td><td>$ 100.00</td><td>$ 134.98</td><td>$ 220.77</td><td>$ 253.19</td><td>$ 243.93</td><td>$ 271.11</td></tr></table> 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 2017 annual meeting of stockholders under the caption 201csecurities authorized for issuance under equity compensation plans , 201d which is incorporated herein by reference . item 6 . selected financial data . the table set forth below presents our selected financial information for each of the past five years ( in millions , except per share amounts ) . the selected statement of operations information for each of the three years ended december 31 , 2016 and the selected balance sheet information as of december 31 , 2016 and 2015 have been derived from and should be read in conjunction with the information in item 7 , 201cmanagement 2019s discussion and analysis of financial condition and results of operations , 201d the audited consolidated financial statements included in item 8 , 201cfinancial statements and supplementary data , 201d and other financial information included elsewhere in this annual report on form 10-k . the selected statement of operations information for each of the two years ended december 31 , 2013 and 2012 and the selected balance sheet information as of december 31 , 2014 , 2013 and 2012 have been derived from financial statements not included in this annual report on form 10-k . 2016 2015 2014 2013 2012 selected statement of operations information : revenues $ 6497 $ 6394 $ 6265 $ 5535 $ 4487 operating income 2058 1985 2061 1975 1859 income from continuing operations , net of taxes 1218 1048 1137 1077 956 loss from discontinued operations , net of taxes 2014 2014 2014 2014 ( 11 ) net income 1218 1048 1137 1077 945 net income available to discovery communications , inc . 1194 1034 1139 1075 943 basic earnings per share available to discovery communications , inc . series a , b and c common stockholders : continuing operations $ 1.97 $ 1.59 $ 1.67 $ 1.50 $ 1.27 discontinued operations 2014 2014 2014 2014 ( 0.01 ) net income 1.97 1.59 1.67 1.50 1.25 diluted earnings per share available to discovery communications , inc . series a , b and c common stockholders : continuing operations $ 1.96 $ 1.58 $ 1.66 $ 1.49 $ 1.26 discontinued operations 2014 2014 2014 2014 ( 0.01 ) net income 1.96 1.58 1.66 1.49 1.24 weighted average shares outstanding : basic 401 432 454 484 498 diluted 610 656 687 722 759 selected balance sheet information : cash and cash equivalents $ 300 $ 390 $ 367 $ 408 $ 1201 total assets 15758 15864 15970 14934 12892 long-term debt : current portion 82 119 1107 17 31 long-term portion 7841 7616 6002 6437 5174 total liabilities 10348 10172 9619 8701 6599 redeemable noncontrolling interests 243 241 747 36 2014 equity attributable to discovery communications , inc . 5167 5451 5602 6196 6291 total equity $ 5167 $ 5451 $ 5604 $ 6197 $ 6293 2022 income per share amounts may not sum since each is calculated independently . 2022 on september 30 , 2016 , the company recorded an other-than-temporary impairment of $ 62 million related to its investment in lionsgate . on december 2 , 2016 , the company acquired a 39% ( 39 % ) minority interest in group nine media , a newly formed media holding company , in exchange for contributions of $ 100 million and the company's digital network businesses seeker and sourcefed , resulting in a gain of $ 50 million upon deconsolidation of the businesses . ( see note 4 to the accompanying consolidated financial statements. ) . Conversations: Question: what is the impairment charge related to the investment in lionsgate in 2016? Answer:

62.0

convfinqa1134

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: december 31 , december 31 , december 31 , december 31 , december 31 , december 31 . <table class='wikitable'><tr><td>1</td><td></td><td>december 312011</td><td>december 312012</td><td>december 312013</td><td>december 312014</td><td>december 312015</td><td>december 312016</td></tr><tr><td>2</td><td>disca</td><td>$ 100.00</td><td>$ 154.94</td><td>$ 220.70</td><td>$ 168.17</td><td>$ 130.24</td><td>$ 133.81</td></tr><tr><td>3</td><td>discb</td><td>$ 100.00</td><td>$ 150.40</td><td>$ 217.35</td><td>$ 175.04</td><td>$ 127.80</td><td>$ 137.83</td></tr><tr><td>4</td><td>disck</td><td>$ 100.00</td><td>$ 155.17</td><td>$ 222.44</td><td>$ 178.89</td><td>$ 133.79</td><td>$ 142.07</td></tr><tr><td>5</td><td>s&p 500</td><td>$ 100.00</td><td>$ 113.41</td><td>$ 146.98</td><td>$ 163.72</td><td>$ 162.53</td><td>$ 178.02</td></tr><tr><td>6</td><td>peer group</td><td>$ 100.00</td><td>$ 134.98</td><td>$ 220.77</td><td>$ 253.19</td><td>$ 243.93</td><td>$ 271.11</td></tr></table> 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 2017 annual meeting of stockholders under the caption 201csecurities authorized for issuance under equity compensation plans , 201d which is incorporated herein by reference . item 6 . selected financial data . the table set forth below presents our selected financial information for each of the past five years ( in millions , except per share amounts ) . the selected statement of operations information for each of the three years ended december 31 , 2016 and the selected balance sheet information as of december 31 , 2016 and 2015 have been derived from and should be read in conjunction with the information in item 7 , 201cmanagement 2019s discussion and analysis of financial condition and results of operations , 201d the audited consolidated financial statements included in item 8 , 201cfinancial statements and supplementary data , 201d and other financial information included elsewhere in this annual report on form 10-k . the selected statement of operations information for each of the two years ended december 31 , 2013 and 2012 and the selected balance sheet information as of december 31 , 2014 , 2013 and 2012 have been derived from financial statements not included in this annual report on form 10-k . 2016 2015 2014 2013 2012 selected statement of operations information : revenues $ 6497 $ 6394 $ 6265 $ 5535 $ 4487 operating income 2058 1985 2061 1975 1859 income from continuing operations , net of taxes 1218 1048 1137 1077 956 loss from discontinued operations , net of taxes 2014 2014 2014 2014 ( 11 ) net income 1218 1048 1137 1077 945 net income available to discovery communications , inc . 1194 1034 1139 1075 943 basic earnings per share available to discovery communications , inc . series a , b and c common stockholders : continuing operations $ 1.97 $ 1.59 $ 1.67 $ 1.50 $ 1.27 discontinued operations 2014 2014 2014 2014 ( 0.01 ) net income 1.97 1.59 1.67 1.50 1.25 diluted earnings per share available to discovery communications , inc . series a , b and c common stockholders : continuing operations $ 1.96 $ 1.58 $ 1.66 $ 1.49 $ 1.26 discontinued operations 2014 2014 2014 2014 ( 0.01 ) net income 1.96 1.58 1.66 1.49 1.24 weighted average shares outstanding : basic 401 432 454 484 498 diluted 610 656 687 722 759 selected balance sheet information : cash and cash equivalents $ 300 $ 390 $ 367 $ 408 $ 1201 total assets 15758 15864 15970 14934 12892 long-term debt : current portion 82 119 1107 17 31 long-term portion 7841 7616 6002 6437 5174 total liabilities 10348 10172 9619 8701 6599 redeemable noncontrolling interests 243 241 747 36 2014 equity attributable to discovery communications , inc . 5167 5451 5602 6196 6291 total equity $ 5167 $ 5451 $ 5604 $ 6197 $ 6293 2022 income per share amounts may not sum since each is calculated independently . 2022 on september 30 , 2016 , the company recorded an other-than-temporary impairment of $ 62 million related to its investment in lionsgate . on december 2 , 2016 , the company acquired a 39% ( 39 % ) minority interest in group nine media , a newly formed media holding company , in exchange for contributions of $ 100 million and the company's digital network businesses seeker and sourcefed , resulting in a gain of $ 50 million upon deconsolidation of the businesses . ( see note 4 to the accompanying consolidated financial statements. ) . Conversations: q0: what is the impairment charge related to the investment in lionsgate in 2016? 62.0 Question: what about the total net income? Answer:

1218.0

convfinqa1135

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: december 31 , december 31 , december 31 , december 31 , december 31 , december 31 . <table class='wikitable'><tr><td>1</td><td></td><td>december 312011</td><td>december 312012</td><td>december 312013</td><td>december 312014</td><td>december 312015</td><td>december 312016</td></tr><tr><td>2</td><td>disca</td><td>$ 100.00</td><td>$ 154.94</td><td>$ 220.70</td><td>$ 168.17</td><td>$ 130.24</td><td>$ 133.81</td></tr><tr><td>3</td><td>discb</td><td>$ 100.00</td><td>$ 150.40</td><td>$ 217.35</td><td>$ 175.04</td><td>$ 127.80</td><td>$ 137.83</td></tr><tr><td>4</td><td>disck</td><td>$ 100.00</td><td>$ 155.17</td><td>$ 222.44</td><td>$ 178.89</td><td>$ 133.79</td><td>$ 142.07</td></tr><tr><td>5</td><td>s&p 500</td><td>$ 100.00</td><td>$ 113.41</td><td>$ 146.98</td><td>$ 163.72</td><td>$ 162.53</td><td>$ 178.02</td></tr><tr><td>6</td><td>peer group</td><td>$ 100.00</td><td>$ 134.98</td><td>$ 220.77</td><td>$ 253.19</td><td>$ 243.93</td><td>$ 271.11</td></tr></table> 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 2017 annual meeting of stockholders under the caption 201csecurities authorized for issuance under equity compensation plans , 201d which is incorporated herein by reference . item 6 . selected financial data . the table set forth below presents our selected financial information for each of the past five years ( in millions , except per share amounts ) . the selected statement of operations information for each of the three years ended december 31 , 2016 and the selected balance sheet information as of december 31 , 2016 and 2015 have been derived from and should be read in conjunction with the information in item 7 , 201cmanagement 2019s discussion and analysis of financial condition and results of operations , 201d the audited consolidated financial statements included in item 8 , 201cfinancial statements and supplementary data , 201d and other financial information included elsewhere in this annual report on form 10-k . the selected statement of operations information for each of the two years ended december 31 , 2013 and 2012 and the selected balance sheet information as of december 31 , 2014 , 2013 and 2012 have been derived from financial statements not included in this annual report on form 10-k . 2016 2015 2014 2013 2012 selected statement of operations information : revenues $ 6497 $ 6394 $ 6265 $ 5535 $ 4487 operating income 2058 1985 2061 1975 1859 income from continuing operations , net of taxes 1218 1048 1137 1077 956 loss from discontinued operations , net of taxes 2014 2014 2014 2014 ( 11 ) net income 1218 1048 1137 1077 945 net income available to discovery communications , inc . 1194 1034 1139 1075 943 basic earnings per share available to discovery communications , inc . series a , b and c common stockholders : continuing operations $ 1.97 $ 1.59 $ 1.67 $ 1.50 $ 1.27 discontinued operations 2014 2014 2014 2014 ( 0.01 ) net income 1.97 1.59 1.67 1.50 1.25 diluted earnings per share available to discovery communications , inc . series a , b and c common stockholders : continuing operations $ 1.96 $ 1.58 $ 1.66 $ 1.49 $ 1.26 discontinued operations 2014 2014 2014 2014 ( 0.01 ) net income 1.96 1.58 1.66 1.49 1.24 weighted average shares outstanding : basic 401 432 454 484 498 diluted 610 656 687 722 759 selected balance sheet information : cash and cash equivalents $ 300 $ 390 $ 367 $ 408 $ 1201 total assets 15758 15864 15970 14934 12892 long-term debt : current portion 82 119 1107 17 31 long-term portion 7841 7616 6002 6437 5174 total liabilities 10348 10172 9619 8701 6599 redeemable noncontrolling interests 243 241 747 36 2014 equity attributable to discovery communications , inc . 5167 5451 5602 6196 6291 total equity $ 5167 $ 5451 $ 5604 $ 6197 $ 6293 2022 income per share amounts may not sum since each is calculated independently . 2022 on september 30 , 2016 , the company recorded an other-than-temporary impairment of $ 62 million related to its investment in lionsgate . on december 2 , 2016 , the company acquired a 39% ( 39 % ) minority interest in group nine media , a newly formed media holding company , in exchange for contributions of $ 100 million and the company's digital network businesses seeker and sourcefed , resulting in a gain of $ 50 million upon deconsolidation of the businesses . ( see note 4 to the accompanying consolidated financial statements. ) . Conversations: q0: what is the impairment charge related to the investment in lionsgate in 2016? 62.0 q1: what about the total net income? 1218.0 Question: what would be the total income of the impairment charges were not inlcuded? Answer:

1280.0

convfinqa1136

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: december 31 , december 31 , december 31 , december 31 , december 31 , december 31 . <table class='wikitable'><tr><td>1</td><td></td><td>december 312011</td><td>december 312012</td><td>december 312013</td><td>december 312014</td><td>december 312015</td><td>december 312016</td></tr><tr><td>2</td><td>disca</td><td>$ 100.00</td><td>$ 154.94</td><td>$ 220.70</td><td>$ 168.17</td><td>$ 130.24</td><td>$ 133.81</td></tr><tr><td>3</td><td>discb</td><td>$ 100.00</td><td>$ 150.40</td><td>$ 217.35</td><td>$ 175.04</td><td>$ 127.80</td><td>$ 137.83</td></tr><tr><td>4</td><td>disck</td><td>$ 100.00</td><td>$ 155.17</td><td>$ 222.44</td><td>$ 178.89</td><td>$ 133.79</td><td>$ 142.07</td></tr><tr><td>5</td><td>s&p 500</td><td>$ 100.00</td><td>$ 113.41</td><td>$ 146.98</td><td>$ 163.72</td><td>$ 162.53</td><td>$ 178.02</td></tr><tr><td>6</td><td>peer group</td><td>$ 100.00</td><td>$ 134.98</td><td>$ 220.77</td><td>$ 253.19</td><td>$ 243.93</td><td>$ 271.11</td></tr></table> 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 2017 annual meeting of stockholders under the caption 201csecurities authorized for issuance under equity compensation plans , 201d which is incorporated herein by reference . item 6 . selected financial data . the table set forth below presents our selected financial information for each of the past five years ( in millions , except per share amounts ) . the selected statement of operations information for each of the three years ended december 31 , 2016 and the selected balance sheet information as of december 31 , 2016 and 2015 have been derived from and should be read in conjunction with the information in item 7 , 201cmanagement 2019s discussion and analysis of financial condition and results of operations , 201d the audited consolidated financial statements included in item 8 , 201cfinancial statements and supplementary data , 201d and other financial information included elsewhere in this annual report on form 10-k . the selected statement of operations information for each of the two years ended december 31 , 2013 and 2012 and the selected balance sheet information as of december 31 , 2014 , 2013 and 2012 have been derived from financial statements not included in this annual report on form 10-k . 2016 2015 2014 2013 2012 selected statement of operations information : revenues $ 6497 $ 6394 $ 6265 $ 5535 $ 4487 operating income 2058 1985 2061 1975 1859 income from continuing operations , net of taxes 1218 1048 1137 1077 956 loss from discontinued operations , net of taxes 2014 2014 2014 2014 ( 11 ) net income 1218 1048 1137 1077 945 net income available to discovery communications , inc . 1194 1034 1139 1075 943 basic earnings per share available to discovery communications , inc . series a , b and c common stockholders : continuing operations $ 1.97 $ 1.59 $ 1.67 $ 1.50 $ 1.27 discontinued operations 2014 2014 2014 2014 ( 0.01 ) net income 1.97 1.59 1.67 1.50 1.25 diluted earnings per share available to discovery communications , inc . series a , b and c common stockholders : continuing operations $ 1.96 $ 1.58 $ 1.66 $ 1.49 $ 1.26 discontinued operations 2014 2014 2014 2014 ( 0.01 ) net income 1.96 1.58 1.66 1.49 1.24 weighted average shares outstanding : basic 401 432 454 484 498 diluted 610 656 687 722 759 selected balance sheet information : cash and cash equivalents $ 300 $ 390 $ 367 $ 408 $ 1201 total assets 15758 15864 15970 14934 12892 long-term debt : current portion 82 119 1107 17 31 long-term portion 7841 7616 6002 6437 5174 total liabilities 10348 10172 9619 8701 6599 redeemable noncontrolling interests 243 241 747 36 2014 equity attributable to discovery communications , inc . 5167 5451 5602 6196 6291 total equity $ 5167 $ 5451 $ 5604 $ 6197 $ 6293 2022 income per share amounts may not sum since each is calculated independently . 2022 on september 30 , 2016 , the company recorded an other-than-temporary impairment of $ 62 million related to its investment in lionsgate . on december 2 , 2016 , the company acquired a 39% ( 39 % ) minority interest in group nine media , a newly formed media holding company , in exchange for contributions of $ 100 million and the company's digital network businesses seeker and sourcefed , resulting in a gain of $ 50 million upon deconsolidation of the businesses . ( see note 4 to the accompanying consolidated financial statements. ) . Conversations: q0: what is the impairment charge related to the investment in lionsgate in 2016? 62.0 q1: what about the total net income? 1218.0 q2: what would be the total income of the impairment charges were not inlcuded? 1280.0 Question: what is the value of an investment in discb in 2016? Answer:

137.83

convfinqa1137

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: december 31 , december 31 , december 31 , december 31 , december 31 , december 31 . <table class='wikitable'><tr><td>1</td><td></td><td>december 312011</td><td>december 312012</td><td>december 312013</td><td>december 312014</td><td>december 312015</td><td>december 312016</td></tr><tr><td>2</td><td>disca</td><td>$ 100.00</td><td>$ 154.94</td><td>$ 220.70</td><td>$ 168.17</td><td>$ 130.24</td><td>$ 133.81</td></tr><tr><td>3</td><td>discb</td><td>$ 100.00</td><td>$ 150.40</td><td>$ 217.35</td><td>$ 175.04</td><td>$ 127.80</td><td>$ 137.83</td></tr><tr><td>4</td><td>disck</td><td>$ 100.00</td><td>$ 155.17</td><td>$ 222.44</td><td>$ 178.89</td><td>$ 133.79</td><td>$ 142.07</td></tr><tr><td>5</td><td>s&p 500</td><td>$ 100.00</td><td>$ 113.41</td><td>$ 146.98</td><td>$ 163.72</td><td>$ 162.53</td><td>$ 178.02</td></tr><tr><td>6</td><td>peer group</td><td>$ 100.00</td><td>$ 134.98</td><td>$ 220.77</td><td>$ 253.19</td><td>$ 243.93</td><td>$ 271.11</td></tr></table> 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 2017 annual meeting of stockholders under the caption 201csecurities authorized for issuance under equity compensation plans , 201d which is incorporated herein by reference . item 6 . selected financial data . the table set forth below presents our selected financial information for each of the past five years ( in millions , except per share amounts ) . the selected statement of operations information for each of the three years ended december 31 , 2016 and the selected balance sheet information as of december 31 , 2016 and 2015 have been derived from and should be read in conjunction with the information in item 7 , 201cmanagement 2019s discussion and analysis of financial condition and results of operations , 201d the audited consolidated financial statements included in item 8 , 201cfinancial statements and supplementary data , 201d and other financial information included elsewhere in this annual report on form 10-k . the selected statement of operations information for each of the two years ended december 31 , 2013 and 2012 and the selected balance sheet information as of december 31 , 2014 , 2013 and 2012 have been derived from financial statements not included in this annual report on form 10-k . 2016 2015 2014 2013 2012 selected statement of operations information : revenues $ 6497 $ 6394 $ 6265 $ 5535 $ 4487 operating income 2058 1985 2061 1975 1859 income from continuing operations , net of taxes 1218 1048 1137 1077 956 loss from discontinued operations , net of taxes 2014 2014 2014 2014 ( 11 ) net income 1218 1048 1137 1077 945 net income available to discovery communications , inc . 1194 1034 1139 1075 943 basic earnings per share available to discovery communications , inc . series a , b and c common stockholders : continuing operations $ 1.97 $ 1.59 $ 1.67 $ 1.50 $ 1.27 discontinued operations 2014 2014 2014 2014 ( 0.01 ) net income 1.97 1.59 1.67 1.50 1.25 diluted earnings per share available to discovery communications , inc . series a , b and c common stockholders : continuing operations $ 1.96 $ 1.58 $ 1.66 $ 1.49 $ 1.26 discontinued operations 2014 2014 2014 2014 ( 0.01 ) net income 1.96 1.58 1.66 1.49 1.24 weighted average shares outstanding : basic 401 432 454 484 498 diluted 610 656 687 722 759 selected balance sheet information : cash and cash equivalents $ 300 $ 390 $ 367 $ 408 $ 1201 total assets 15758 15864 15970 14934 12892 long-term debt : current portion 82 119 1107 17 31 long-term portion 7841 7616 6002 6437 5174 total liabilities 10348 10172 9619 8701 6599 redeemable noncontrolling interests 243 241 747 36 2014 equity attributable to discovery communications , inc . 5167 5451 5602 6196 6291 total equity $ 5167 $ 5451 $ 5604 $ 6197 $ 6293 2022 income per share amounts may not sum since each is calculated independently . 2022 on september 30 , 2016 , the company recorded an other-than-temporary impairment of $ 62 million related to its investment in lionsgate . on december 2 , 2016 , the company acquired a 39% ( 39 % ) minority interest in group nine media , a newly formed media holding company , in exchange for contributions of $ 100 million and the company's digital network businesses seeker and sourcefed , resulting in a gain of $ 50 million upon deconsolidation of the businesses . ( see note 4 to the accompanying consolidated financial statements. ) . Conversations: q0: what is the impairment charge related to the investment in lionsgate in 2016? 62.0 q1: what about the total net income? 1218.0 q2: what would be the total income of the impairment charges were not inlcuded? 1280.0 q3: what is the value of an investment in discb in 2016? 137.83 Question: what about the value of the initial investment? Answer:

100.0

convfinqa1138

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: december 31 , december 31 , december 31 , december 31 , december 31 , december 31 . <table class='wikitable'><tr><td>1</td><td></td><td>december 312011</td><td>december 312012</td><td>december 312013</td><td>december 312014</td><td>december 312015</td><td>december 312016</td></tr><tr><td>2</td><td>disca</td><td>$ 100.00</td><td>$ 154.94</td><td>$ 220.70</td><td>$ 168.17</td><td>$ 130.24</td><td>$ 133.81</td></tr><tr><td>3</td><td>discb</td><td>$ 100.00</td><td>$ 150.40</td><td>$ 217.35</td><td>$ 175.04</td><td>$ 127.80</td><td>$ 137.83</td></tr><tr><td>4</td><td>disck</td><td>$ 100.00</td><td>$ 155.17</td><td>$ 222.44</td><td>$ 178.89</td><td>$ 133.79</td><td>$ 142.07</td></tr><tr><td>5</td><td>s&p 500</td><td>$ 100.00</td><td>$ 113.41</td><td>$ 146.98</td><td>$ 163.72</td><td>$ 162.53</td><td>$ 178.02</td></tr><tr><td>6</td><td>peer group</td><td>$ 100.00</td><td>$ 134.98</td><td>$ 220.77</td><td>$ 253.19</td><td>$ 243.93</td><td>$ 271.11</td></tr></table> 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 2017 annual meeting of stockholders under the caption 201csecurities authorized for issuance under equity compensation plans , 201d which is incorporated herein by reference . item 6 . selected financial data . the table set forth below presents our selected financial information for each of the past five years ( in millions , except per share amounts ) . the selected statement of operations information for each of the three years ended december 31 , 2016 and the selected balance sheet information as of december 31 , 2016 and 2015 have been derived from and should be read in conjunction with the information in item 7 , 201cmanagement 2019s discussion and analysis of financial condition and results of operations , 201d the audited consolidated financial statements included in item 8 , 201cfinancial statements and supplementary data , 201d and other financial information included elsewhere in this annual report on form 10-k . the selected statement of operations information for each of the two years ended december 31 , 2013 and 2012 and the selected balance sheet information as of december 31 , 2014 , 2013 and 2012 have been derived from financial statements not included in this annual report on form 10-k . 2016 2015 2014 2013 2012 selected statement of operations information : revenues $ 6497 $ 6394 $ 6265 $ 5535 $ 4487 operating income 2058 1985 2061 1975 1859 income from continuing operations , net of taxes 1218 1048 1137 1077 956 loss from discontinued operations , net of taxes 2014 2014 2014 2014 ( 11 ) net income 1218 1048 1137 1077 945 net income available to discovery communications , inc . 1194 1034 1139 1075 943 basic earnings per share available to discovery communications , inc . series a , b and c common stockholders : continuing operations $ 1.97 $ 1.59 $ 1.67 $ 1.50 $ 1.27 discontinued operations 2014 2014 2014 2014 ( 0.01 ) net income 1.97 1.59 1.67 1.50 1.25 diluted earnings per share available to discovery communications , inc . series a , b and c common stockholders : continuing operations $ 1.96 $ 1.58 $ 1.66 $ 1.49 $ 1.26 discontinued operations 2014 2014 2014 2014 ( 0.01 ) net income 1.96 1.58 1.66 1.49 1.24 weighted average shares outstanding : basic 401 432 454 484 498 diluted 610 656 687 722 759 selected balance sheet information : cash and cash equivalents $ 300 $ 390 $ 367 $ 408 $ 1201 total assets 15758 15864 15970 14934 12892 long-term debt : current portion 82 119 1107 17 31 long-term portion 7841 7616 6002 6437 5174 total liabilities 10348 10172 9619 8701 6599 redeemable noncontrolling interests 243 241 747 36 2014 equity attributable to discovery communications , inc . 5167 5451 5602 6196 6291 total equity $ 5167 $ 5451 $ 5604 $ 6197 $ 6293 2022 income per share amounts may not sum since each is calculated independently . 2022 on september 30 , 2016 , the company recorded an other-than-temporary impairment of $ 62 million related to its investment in lionsgate . on december 2 , 2016 , the company acquired a 39% ( 39 % ) minority interest in group nine media , a newly formed media holding company , in exchange for contributions of $ 100 million and the company's digital network businesses seeker and sourcefed , resulting in a gain of $ 50 million upon deconsolidation of the businesses . ( see note 4 to the accompanying consolidated financial statements. ) . Conversations: q0: what is the impairment charge related to the investment in lionsgate in 2016? 62.0 q1: what about the total net income? 1218.0 q2: what would be the total income of the impairment charges were not inlcuded? 1280.0 q3: what is the value of an investment in discb in 2016? 137.83 q4: what about the value of the initial investment? 100.0 Question: what is the net change in this investment? Answer:

37.83

convfinqa1139

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: a lump sum buyout cost of approximately $ 1.1 million . total rent expense under these leases , included in the accompanying consolidated statements of operations , was approximately $ 893000 , $ 856000 and $ 823000 for the fiscal years ended march 31 , 2001 , 2002 and 2003 , respectively . during the fiscal year ended march 31 , 2000 , the company entered into 36-month operating leases totaling approximately $ 644000 for the lease of office furniture . these leases ended in fiscal year 2003 and at the company 2019s option the furniture was purchased at its fair market value . rental expense recorded for these leases during the fiscal years ended march 31 , 2001 , 2002 and 2003 was approximately $ 215000 , $ 215000 and $ 127000 respectively . during fiscal 2000 , the company entered into a 36-month capital lease for computer equipment and software for approximately $ 221000 . this lease ended in fiscal year 2003 and at the company 2019s option these assets were purchased at the stipulated buyout price . future minimum lease payments under all non-cancelable operating leases as of march 31 , 2003 are approximately as follows ( in thousands ) : . <table class='wikitable'><tr><td>1</td><td>year ending march 31,</td><td>operating leases</td></tr><tr><td>2</td><td>2004</td><td>$ 781</td></tr><tr><td>3</td><td>2005</td><td>776</td></tr><tr><td>4</td><td>2006</td><td>776</td></tr><tr><td>5</td><td>2007</td><td>769</td></tr><tr><td>6</td><td>2008</td><td>772</td></tr><tr><td>7</td><td>thereafter</td><td>1480</td></tr><tr><td>8</td><td>total future minimum lease payments</td><td>$ 5354</td></tr></table> from time to time , the company is involved in legal and administrative proceedings and claims of various types . while any litigation contains an element of uncertainty , management , in consultation with the company 2019s general counsel , presently believes that the outcome of each such other proceedings or claims which are pending or known to be threatened , or all of them combined , will not have a material adverse effect on the company . 7 . stock option and purchase plans all stock options granted by the company under the below-described plans were granted at the fair value of the underlying common stock at the date of grant . outstanding stock options , if not exercised , expire 10 years from the date of grant . the 1992 combination stock option plan ( the combination plan ) , as amended , was adopted in september 1992 as a combination and restatement of the company 2019s then outstanding incentive stock option plan and nonqualified plan . a total of 2670859 options were awarded from the combination plan during its ten-year restatement term that ended on may 1 , 2002 . as of march 31 , 2003 , 1286042 of these options remain outstanding and eligible for future exercise . these options are held by company employees and generally become exercisable ratably over five years . the 1998 equity incentive plan , ( the equity incentive plan ) , was adopted by the company in august 1998 . the equity incentive plan provides for grants of options to key employees , directors , advisors and consultants as either incentive stock options or nonqualified stock options as determined by the company 2019s board of directors . a maximum of 1000000 shares of common stock may be awarded under this plan . options granted under the equity incentive plan are exercisable at such times and subject to such terms as the board of directors may specify at the time of each stock option grant . options outstanding under the equity incentive plan have vesting periods of 3 to 5 years from the date of grant . the 2000 stock incentive plan , ( the 2000 plan ) , was adopted by the company in august 2000 . the 2000 plan provides for grants of options to key employees , directors , advisors and consultants to the company or its subsidiaries as either incentive or nonqualified stock options as determined by the company 2019s board of directors . up to 1400000 shares of common stock may be awarded under the 2000 plan and are exercisable at such times and subject to such terms as the board of directors may specify at the time of each stock option grant . options outstanding under the 2000 plan generally vested 4 years from the date of grant . the company has a nonqualified stock option plan for non-employee directors ( the directors 2019 plan ) . the directors 2019 plan , as amended , was adopted in july 1989 and provides for grants of options to purchase shares of the company 2019s common stock to non-employee directors of the company . up to 400000 shares of common stock may be awarded under the directors 2019 plan . options outstanding under the directors 2019 plan have vesting periods of 1 to 5 years from the date of grant . notes to consolidated financial statements ( continued ) march 31 , 2003 page 25 . Conversations: Question: what is the minimum future lease payments due in 2004? Answer:

781.0

convfinqa1140

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: a lump sum buyout cost of approximately $ 1.1 million . total rent expense under these leases , included in the accompanying consolidated statements of operations , was approximately $ 893000 , $ 856000 and $ 823000 for the fiscal years ended march 31 , 2001 , 2002 and 2003 , respectively . during the fiscal year ended march 31 , 2000 , the company entered into 36-month operating leases totaling approximately $ 644000 for the lease of office furniture . these leases ended in fiscal year 2003 and at the company 2019s option the furniture was purchased at its fair market value . rental expense recorded for these leases during the fiscal years ended march 31 , 2001 , 2002 and 2003 was approximately $ 215000 , $ 215000 and $ 127000 respectively . during fiscal 2000 , the company entered into a 36-month capital lease for computer equipment and software for approximately $ 221000 . this lease ended in fiscal year 2003 and at the company 2019s option these assets were purchased at the stipulated buyout price . future minimum lease payments under all non-cancelable operating leases as of march 31 , 2003 are approximately as follows ( in thousands ) : . <table class='wikitable'><tr><td>1</td><td>year ending march 31,</td><td>operating leases</td></tr><tr><td>2</td><td>2004</td><td>$ 781</td></tr><tr><td>3</td><td>2005</td><td>776</td></tr><tr><td>4</td><td>2006</td><td>776</td></tr><tr><td>5</td><td>2007</td><td>769</td></tr><tr><td>6</td><td>2008</td><td>772</td></tr><tr><td>7</td><td>thereafter</td><td>1480</td></tr><tr><td>8</td><td>total future minimum lease payments</td><td>$ 5354</td></tr></table> from time to time , the company is involved in legal and administrative proceedings and claims of various types . while any litigation contains an element of uncertainty , management , in consultation with the company 2019s general counsel , presently believes that the outcome of each such other proceedings or claims which are pending or known to be threatened , or all of them combined , will not have a material adverse effect on the company . 7 . stock option and purchase plans all stock options granted by the company under the below-described plans were granted at the fair value of the underlying common stock at the date of grant . outstanding stock options , if not exercised , expire 10 years from the date of grant . the 1992 combination stock option plan ( the combination plan ) , as amended , was adopted in september 1992 as a combination and restatement of the company 2019s then outstanding incentive stock option plan and nonqualified plan . a total of 2670859 options were awarded from the combination plan during its ten-year restatement term that ended on may 1 , 2002 . as of march 31 , 2003 , 1286042 of these options remain outstanding and eligible for future exercise . these options are held by company employees and generally become exercisable ratably over five years . the 1998 equity incentive plan , ( the equity incentive plan ) , was adopted by the company in august 1998 . the equity incentive plan provides for grants of options to key employees , directors , advisors and consultants as either incentive stock options or nonqualified stock options as determined by the company 2019s board of directors . a maximum of 1000000 shares of common stock may be awarded under this plan . options granted under the equity incentive plan are exercisable at such times and subject to such terms as the board of directors may specify at the time of each stock option grant . options outstanding under the equity incentive plan have vesting periods of 3 to 5 years from the date of grant . the 2000 stock incentive plan , ( the 2000 plan ) , was adopted by the company in august 2000 . the 2000 plan provides for grants of options to key employees , directors , advisors and consultants to the company or its subsidiaries as either incentive or nonqualified stock options as determined by the company 2019s board of directors . up to 1400000 shares of common stock may be awarded under the 2000 plan and are exercisable at such times and subject to such terms as the board of directors may specify at the time of each stock option grant . options outstanding under the 2000 plan generally vested 4 years from the date of grant . the company has a nonqualified stock option plan for non-employee directors ( the directors 2019 plan ) . the directors 2019 plan , as amended , was adopted in july 1989 and provides for grants of options to purchase shares of the company 2019s common stock to non-employee directors of the company . up to 400000 shares of common stock may be awarded under the directors 2019 plan . options outstanding under the directors 2019 plan have vesting periods of 1 to 5 years from the date of grant . notes to consolidated financial statements ( continued ) march 31 , 2003 page 25 . Conversations: q0: what is the minimum future lease payments due in 2004? 781.0 Question: what is the value for those due in 2005? Answer:

776.0

convfinqa1141

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: a lump sum buyout cost of approximately $ 1.1 million . total rent expense under these leases , included in the accompanying consolidated statements of operations , was approximately $ 893000 , $ 856000 and $ 823000 for the fiscal years ended march 31 , 2001 , 2002 and 2003 , respectively . during the fiscal year ended march 31 , 2000 , the company entered into 36-month operating leases totaling approximately $ 644000 for the lease of office furniture . these leases ended in fiscal year 2003 and at the company 2019s option the furniture was purchased at its fair market value . rental expense recorded for these leases during the fiscal years ended march 31 , 2001 , 2002 and 2003 was approximately $ 215000 , $ 215000 and $ 127000 respectively . during fiscal 2000 , the company entered into a 36-month capital lease for computer equipment and software for approximately $ 221000 . this lease ended in fiscal year 2003 and at the company 2019s option these assets were purchased at the stipulated buyout price . future minimum lease payments under all non-cancelable operating leases as of march 31 , 2003 are approximately as follows ( in thousands ) : . <table class='wikitable'><tr><td>1</td><td>year ending march 31,</td><td>operating leases</td></tr><tr><td>2</td><td>2004</td><td>$ 781</td></tr><tr><td>3</td><td>2005</td><td>776</td></tr><tr><td>4</td><td>2006</td><td>776</td></tr><tr><td>5</td><td>2007</td><td>769</td></tr><tr><td>6</td><td>2008</td><td>772</td></tr><tr><td>7</td><td>thereafter</td><td>1480</td></tr><tr><td>8</td><td>total future minimum lease payments</td><td>$ 5354</td></tr></table> from time to time , the company is involved in legal and administrative proceedings and claims of various types . while any litigation contains an element of uncertainty , management , in consultation with the company 2019s general counsel , presently believes that the outcome of each such other proceedings or claims which are pending or known to be threatened , or all of them combined , will not have a material adverse effect on the company . 7 . stock option and purchase plans all stock options granted by the company under the below-described plans were granted at the fair value of the underlying common stock at the date of grant . outstanding stock options , if not exercised , expire 10 years from the date of grant . the 1992 combination stock option plan ( the combination plan ) , as amended , was adopted in september 1992 as a combination and restatement of the company 2019s then outstanding incentive stock option plan and nonqualified plan . a total of 2670859 options were awarded from the combination plan during its ten-year restatement term that ended on may 1 , 2002 . as of march 31 , 2003 , 1286042 of these options remain outstanding and eligible for future exercise . these options are held by company employees and generally become exercisable ratably over five years . the 1998 equity incentive plan , ( the equity incentive plan ) , was adopted by the company in august 1998 . the equity incentive plan provides for grants of options to key employees , directors , advisors and consultants as either incentive stock options or nonqualified stock options as determined by the company 2019s board of directors . a maximum of 1000000 shares of common stock may be awarded under this plan . options granted under the equity incentive plan are exercisable at such times and subject to such terms as the board of directors may specify at the time of each stock option grant . options outstanding under the equity incentive plan have vesting periods of 3 to 5 years from the date of grant . the 2000 stock incentive plan , ( the 2000 plan ) , was adopted by the company in august 2000 . the 2000 plan provides for grants of options to key employees , directors , advisors and consultants to the company or its subsidiaries as either incentive or nonqualified stock options as determined by the company 2019s board of directors . up to 1400000 shares of common stock may be awarded under the 2000 plan and are exercisable at such times and subject to such terms as the board of directors may specify at the time of each stock option grant . options outstanding under the 2000 plan generally vested 4 years from the date of grant . the company has a nonqualified stock option plan for non-employee directors ( the directors 2019 plan ) . the directors 2019 plan , as amended , was adopted in july 1989 and provides for grants of options to purchase shares of the company 2019s common stock to non-employee directors of the company . up to 400000 shares of common stock may be awarded under the directors 2019 plan . options outstanding under the directors 2019 plan have vesting periods of 1 to 5 years from the date of grant . notes to consolidated financial statements ( continued ) march 31 , 2003 page 25 . Conversations: q0: what is the minimum future lease payments due in 2004? 781.0 q1: what is the value for those due in 2005? 776.0 Question: what is the sum? Answer:

1557.0

convfinqa1142

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: a lump sum buyout cost of approximately $ 1.1 million . total rent expense under these leases , included in the accompanying consolidated statements of operations , was approximately $ 893000 , $ 856000 and $ 823000 for the fiscal years ended march 31 , 2001 , 2002 and 2003 , respectively . during the fiscal year ended march 31 , 2000 , the company entered into 36-month operating leases totaling approximately $ 644000 for the lease of office furniture . these leases ended in fiscal year 2003 and at the company 2019s option the furniture was purchased at its fair market value . rental expense recorded for these leases during the fiscal years ended march 31 , 2001 , 2002 and 2003 was approximately $ 215000 , $ 215000 and $ 127000 respectively . during fiscal 2000 , the company entered into a 36-month capital lease for computer equipment and software for approximately $ 221000 . this lease ended in fiscal year 2003 and at the company 2019s option these assets were purchased at the stipulated buyout price . future minimum lease payments under all non-cancelable operating leases as of march 31 , 2003 are approximately as follows ( in thousands ) : . <table class='wikitable'><tr><td>1</td><td>year ending march 31,</td><td>operating leases</td></tr><tr><td>2</td><td>2004</td><td>$ 781</td></tr><tr><td>3</td><td>2005</td><td>776</td></tr><tr><td>4</td><td>2006</td><td>776</td></tr><tr><td>5</td><td>2007</td><td>769</td></tr><tr><td>6</td><td>2008</td><td>772</td></tr><tr><td>7</td><td>thereafter</td><td>1480</td></tr><tr><td>8</td><td>total future minimum lease payments</td><td>$ 5354</td></tr></table> from time to time , the company is involved in legal and administrative proceedings and claims of various types . while any litigation contains an element of uncertainty , management , in consultation with the company 2019s general counsel , presently believes that the outcome of each such other proceedings or claims which are pending or known to be threatened , or all of them combined , will not have a material adverse effect on the company . 7 . stock option and purchase plans all stock options granted by the company under the below-described plans were granted at the fair value of the underlying common stock at the date of grant . outstanding stock options , if not exercised , expire 10 years from the date of grant . the 1992 combination stock option plan ( the combination plan ) , as amended , was adopted in september 1992 as a combination and restatement of the company 2019s then outstanding incentive stock option plan and nonqualified plan . a total of 2670859 options were awarded from the combination plan during its ten-year restatement term that ended on may 1 , 2002 . as of march 31 , 2003 , 1286042 of these options remain outstanding and eligible for future exercise . these options are held by company employees and generally become exercisable ratably over five years . the 1998 equity incentive plan , ( the equity incentive plan ) , was adopted by the company in august 1998 . the equity incentive plan provides for grants of options to key employees , directors , advisors and consultants as either incentive stock options or nonqualified stock options as determined by the company 2019s board of directors . a maximum of 1000000 shares of common stock may be awarded under this plan . options granted under the equity incentive plan are exercisable at such times and subject to such terms as the board of directors may specify at the time of each stock option grant . options outstanding under the equity incentive plan have vesting periods of 3 to 5 years from the date of grant . the 2000 stock incentive plan , ( the 2000 plan ) , was adopted by the company in august 2000 . the 2000 plan provides for grants of options to key employees , directors , advisors and consultants to the company or its subsidiaries as either incentive or nonqualified stock options as determined by the company 2019s board of directors . up to 1400000 shares of common stock may be awarded under the 2000 plan and are exercisable at such times and subject to such terms as the board of directors may specify at the time of each stock option grant . options outstanding under the 2000 plan generally vested 4 years from the date of grant . the company has a nonqualified stock option plan for non-employee directors ( the directors 2019 plan ) . the directors 2019 plan , as amended , was adopted in july 1989 and provides for grants of options to purchase shares of the company 2019s common stock to non-employee directors of the company . up to 400000 shares of common stock may be awarded under the directors 2019 plan . options outstanding under the directors 2019 plan have vesting periods of 1 to 5 years from the date of grant . notes to consolidated financial statements ( continued ) march 31 , 2003 page 25 . Conversations: q0: what is the minimum future lease payments due in 2004? 781.0 q1: what is the value for those due in 2005? 776.0 q2: what is the sum? 1557.0 Question: what is the total future minimum lease payments? Answer:

5354.0

convfinqa1143

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: a lump sum buyout cost of approximately $ 1.1 million . total rent expense under these leases , included in the accompanying consolidated statements of operations , was approximately $ 893000 , $ 856000 and $ 823000 for the fiscal years ended march 31 , 2001 , 2002 and 2003 , respectively . during the fiscal year ended march 31 , 2000 , the company entered into 36-month operating leases totaling approximately $ 644000 for the lease of office furniture . these leases ended in fiscal year 2003 and at the company 2019s option the furniture was purchased at its fair market value . rental expense recorded for these leases during the fiscal years ended march 31 , 2001 , 2002 and 2003 was approximately $ 215000 , $ 215000 and $ 127000 respectively . during fiscal 2000 , the company entered into a 36-month capital lease for computer equipment and software for approximately $ 221000 . this lease ended in fiscal year 2003 and at the company 2019s option these assets were purchased at the stipulated buyout price . future minimum lease payments under all non-cancelable operating leases as of march 31 , 2003 are approximately as follows ( in thousands ) : . <table class='wikitable'><tr><td>1</td><td>year ending march 31,</td><td>operating leases</td></tr><tr><td>2</td><td>2004</td><td>$ 781</td></tr><tr><td>3</td><td>2005</td><td>776</td></tr><tr><td>4</td><td>2006</td><td>776</td></tr><tr><td>5</td><td>2007</td><td>769</td></tr><tr><td>6</td><td>2008</td><td>772</td></tr><tr><td>7</td><td>thereafter</td><td>1480</td></tr><tr><td>8</td><td>total future minimum lease payments</td><td>$ 5354</td></tr></table> from time to time , the company is involved in legal and administrative proceedings and claims of various types . while any litigation contains an element of uncertainty , management , in consultation with the company 2019s general counsel , presently believes that the outcome of each such other proceedings or claims which are pending or known to be threatened , or all of them combined , will not have a material adverse effect on the company . 7 . stock option and purchase plans all stock options granted by the company under the below-described plans were granted at the fair value of the underlying common stock at the date of grant . outstanding stock options , if not exercised , expire 10 years from the date of grant . the 1992 combination stock option plan ( the combination plan ) , as amended , was adopted in september 1992 as a combination and restatement of the company 2019s then outstanding incentive stock option plan and nonqualified plan . a total of 2670859 options were awarded from the combination plan during its ten-year restatement term that ended on may 1 , 2002 . as of march 31 , 2003 , 1286042 of these options remain outstanding and eligible for future exercise . these options are held by company employees and generally become exercisable ratably over five years . the 1998 equity incentive plan , ( the equity incentive plan ) , was adopted by the company in august 1998 . the equity incentive plan provides for grants of options to key employees , directors , advisors and consultants as either incentive stock options or nonqualified stock options as determined by the company 2019s board of directors . a maximum of 1000000 shares of common stock may be awarded under this plan . options granted under the equity incentive plan are exercisable at such times and subject to such terms as the board of directors may specify at the time of each stock option grant . options outstanding under the equity incentive plan have vesting periods of 3 to 5 years from the date of grant . the 2000 stock incentive plan , ( the 2000 plan ) , was adopted by the company in august 2000 . the 2000 plan provides for grants of options to key employees , directors , advisors and consultants to the company or its subsidiaries as either incentive or nonqualified stock options as determined by the company 2019s board of directors . up to 1400000 shares of common stock may be awarded under the 2000 plan and are exercisable at such times and subject to such terms as the board of directors may specify at the time of each stock option grant . options outstanding under the 2000 plan generally vested 4 years from the date of grant . the company has a nonqualified stock option plan for non-employee directors ( the directors 2019 plan ) . the directors 2019 plan , as amended , was adopted in july 1989 and provides for grants of options to purchase shares of the company 2019s common stock to non-employee directors of the company . up to 400000 shares of common stock may be awarded under the directors 2019 plan . options outstanding under the directors 2019 plan have vesting periods of 1 to 5 years from the date of grant . notes to consolidated financial statements ( continued ) march 31 , 2003 page 25 . Conversations: q0: what is the minimum future lease payments due in 2004? 781.0 q1: what is the value for those due in 2005? 776.0 q2: what is the sum? 1557.0 q3: what is the total future minimum lease payments? 5354.0 Question: what is the sum over the total future minimum lease payments? Answer:

0.29081

convfinqa1144

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: 17 . leases we lease certain locomotives , freight cars , and other property . the consolidated statements of financial position as of december 31 , 2016 , and 2015 included $ 1997 million , net of $ 1121 million of accumulated depreciation , and $ 2273 million , net of $ 1189 million of accumulated depreciation , respectively , for properties held under capital leases . a charge to income resulting from the depreciation for assets held under capital leases is included within depreciation expense in our consolidated statements of income . future minimum lease payments for operating and capital leases with initial or remaining non-cancelable lease terms in excess of one year as of december 31 , 2016 , were as follows : millions operating leases capital leases . <table class='wikitable'><tr><td>1</td><td>millions</td><td>operatingleases</td><td>capitalleases</td></tr><tr><td>2</td><td>2017</td><td>$ 461</td><td>$ 221</td></tr><tr><td>3</td><td>2018</td><td>390</td><td>193</td></tr><tr><td>4</td><td>2019</td><td>348</td><td>179</td></tr><tr><td>5</td><td>2020</td><td>285</td><td>187</td></tr><tr><td>6</td><td>2021</td><td>245</td><td>158</td></tr><tr><td>7</td><td>later years</td><td>1314</td><td>417</td></tr><tr><td>8</td><td>total minimum lease payments</td><td>$ 3043</td><td>$ 1355</td></tr><tr><td>9</td><td>amount representing interest</td><td>n/a</td><td>-250 ( 250 )</td></tr><tr><td>10</td><td>present value of minimum lease payments</td><td>n/a</td><td>$ 1105</td></tr></table> approximately 96% ( 96 % ) of capital lease payments relate to locomotives . rent expense for operating leases with terms exceeding one month was $ 535 million in 2016 , $ 590 million in 2015 , and $ 593 million in 2014 . when cash rental payments are not made on a straight-line basis , we recognize variable rental expense on a straight-line basis over the lease term . contingent rentals and sub-rentals are not significant . 18 . commitments and contingencies asserted and unasserted claims 2013 various claims and lawsuits are pending against us and certain of our subsidiaries . we cannot fully determine the effect of all asserted and unasserted claims on our consolidated results of operations , financial condition , or liquidity . to the extent possible , we have recorded a liability where asserted and unasserted claims are considered probable and where such claims can be reasonably estimated . we do not expect that any known lawsuits , claims , environmental costs , commitments , contingent liabilities , or guarantees will have a material adverse effect on our consolidated results of operations , financial condition , or liquidity after taking into account liabilities and insurance recoveries previously recorded for these matters . personal injury 2013 the cost of personal injuries to employees and others related to our activities is charged to expense based on estimates of the ultimate cost and number of incidents each year . we use an actuarial analysis to measure the expense and liability , including unasserted claims . the federal employers 2019 liability act ( fela ) governs compensation for work-related accidents . under fela , damages are assessed based on a finding of fault through litigation or out-of-court settlements . we offer a comprehensive variety of services and rehabilitation programs for employees who are injured at work . our personal injury liability is not discounted to present value due to the uncertainty surrounding the timing of future payments . approximately 94% ( 94 % ) of the recorded liability is related to asserted claims and approximately 6% ( 6 % ) is related to unasserted claims at december 31 , 2016 . because of the uncertainty surrounding the ultimate outcome of personal injury claims , it is reasonably possible that future costs to settle these claims may range from approximately $ 290 million to $ 317 million . we record an accrual at the low end of the range as no amount of loss within the range is more probable than any other . estimates can vary over time due to evolving trends in litigation. . Conversations: Question: what is the net difference in the maximum and minimum value of personal injury claims? Answer:

27.0

convfinqa1145

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: 17 . leases we lease certain locomotives , freight cars , and other property . the consolidated statements of financial position as of december 31 , 2016 , and 2015 included $ 1997 million , net of $ 1121 million of accumulated depreciation , and $ 2273 million , net of $ 1189 million of accumulated depreciation , respectively , for properties held under capital leases . a charge to income resulting from the depreciation for assets held under capital leases is included within depreciation expense in our consolidated statements of income . future minimum lease payments for operating and capital leases with initial or remaining non-cancelable lease terms in excess of one year as of december 31 , 2016 , were as follows : millions operating leases capital leases . <table class='wikitable'><tr><td>1</td><td>millions</td><td>operatingleases</td><td>capitalleases</td></tr><tr><td>2</td><td>2017</td><td>$ 461</td><td>$ 221</td></tr><tr><td>3</td><td>2018</td><td>390</td><td>193</td></tr><tr><td>4</td><td>2019</td><td>348</td><td>179</td></tr><tr><td>5</td><td>2020</td><td>285</td><td>187</td></tr><tr><td>6</td><td>2021</td><td>245</td><td>158</td></tr><tr><td>7</td><td>later years</td><td>1314</td><td>417</td></tr><tr><td>8</td><td>total minimum lease payments</td><td>$ 3043</td><td>$ 1355</td></tr><tr><td>9</td><td>amount representing interest</td><td>n/a</td><td>-250 ( 250 )</td></tr><tr><td>10</td><td>present value of minimum lease payments</td><td>n/a</td><td>$ 1105</td></tr></table> approximately 96% ( 96 % ) of capital lease payments relate to locomotives . rent expense for operating leases with terms exceeding one month was $ 535 million in 2016 , $ 590 million in 2015 , and $ 593 million in 2014 . when cash rental payments are not made on a straight-line basis , we recognize variable rental expense on a straight-line basis over the lease term . contingent rentals and sub-rentals are not significant . 18 . commitments and contingencies asserted and unasserted claims 2013 various claims and lawsuits are pending against us and certain of our subsidiaries . we cannot fully determine the effect of all asserted and unasserted claims on our consolidated results of operations , financial condition , or liquidity . to the extent possible , we have recorded a liability where asserted and unasserted claims are considered probable and where such claims can be reasonably estimated . we do not expect that any known lawsuits , claims , environmental costs , commitments , contingent liabilities , or guarantees will have a material adverse effect on our consolidated results of operations , financial condition , or liquidity after taking into account liabilities and insurance recoveries previously recorded for these matters . personal injury 2013 the cost of personal injuries to employees and others related to our activities is charged to expense based on estimates of the ultimate cost and number of incidents each year . we use an actuarial analysis to measure the expense and liability , including unasserted claims . the federal employers 2019 liability act ( fela ) governs compensation for work-related accidents . under fela , damages are assessed based on a finding of fault through litigation or out-of-court settlements . we offer a comprehensive variety of services and rehabilitation programs for employees who are injured at work . our personal injury liability is not discounted to present value due to the uncertainty surrounding the timing of future payments . approximately 94% ( 94 % ) of the recorded liability is related to asserted claims and approximately 6% ( 6 % ) is related to unasserted claims at december 31 , 2016 . because of the uncertainty surrounding the ultimate outcome of personal injury claims , it is reasonably possible that future costs to settle these claims may range from approximately $ 290 million to $ 317 million . we record an accrual at the low end of the range as no amount of loss within the range is more probable than any other . estimates can vary over time due to evolving trends in litigation. . Conversations: q0: what is the net difference in the maximum and minimum value of personal injury claims? 27.0 Question: what is that over the minimum value? Answer:

0.08517

convfinqa1146

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: 17 . leases we lease certain locomotives , freight cars , and other property . the consolidated statements of financial position as of december 31 , 2016 , and 2015 included $ 1997 million , net of $ 1121 million of accumulated depreciation , and $ 2273 million , net of $ 1189 million of accumulated depreciation , respectively , for properties held under capital leases . a charge to income resulting from the depreciation for assets held under capital leases is included within depreciation expense in our consolidated statements of income . future minimum lease payments for operating and capital leases with initial or remaining non-cancelable lease terms in excess of one year as of december 31 , 2016 , were as follows : millions operating leases capital leases . <table class='wikitable'><tr><td>1</td><td>millions</td><td>operatingleases</td><td>capitalleases</td></tr><tr><td>2</td><td>2017</td><td>$ 461</td><td>$ 221</td></tr><tr><td>3</td><td>2018</td><td>390</td><td>193</td></tr><tr><td>4</td><td>2019</td><td>348</td><td>179</td></tr><tr><td>5</td><td>2020</td><td>285</td><td>187</td></tr><tr><td>6</td><td>2021</td><td>245</td><td>158</td></tr><tr><td>7</td><td>later years</td><td>1314</td><td>417</td></tr><tr><td>8</td><td>total minimum lease payments</td><td>$ 3043</td><td>$ 1355</td></tr><tr><td>9</td><td>amount representing interest</td><td>n/a</td><td>-250 ( 250 )</td></tr><tr><td>10</td><td>present value of minimum lease payments</td><td>n/a</td><td>$ 1105</td></tr></table> approximately 96% ( 96 % ) of capital lease payments relate to locomotives . rent expense for operating leases with terms exceeding one month was $ 535 million in 2016 , $ 590 million in 2015 , and $ 593 million in 2014 . when cash rental payments are not made on a straight-line basis , we recognize variable rental expense on a straight-line basis over the lease term . contingent rentals and sub-rentals are not significant . 18 . commitments and contingencies asserted and unasserted claims 2013 various claims and lawsuits are pending against us and certain of our subsidiaries . we cannot fully determine the effect of all asserted and unasserted claims on our consolidated results of operations , financial condition , or liquidity . to the extent possible , we have recorded a liability where asserted and unasserted claims are considered probable and where such claims can be reasonably estimated . we do not expect that any known lawsuits , claims , environmental costs , commitments , contingent liabilities , or guarantees will have a material adverse effect on our consolidated results of operations , financial condition , or liquidity after taking into account liabilities and insurance recoveries previously recorded for these matters . personal injury 2013 the cost of personal injuries to employees and others related to our activities is charged to expense based on estimates of the ultimate cost and number of incidents each year . we use an actuarial analysis to measure the expense and liability , including unasserted claims . the federal employers 2019 liability act ( fela ) governs compensation for work-related accidents . under fela , damages are assessed based on a finding of fault through litigation or out-of-court settlements . we offer a comprehensive variety of services and rehabilitation programs for employees who are injured at work . our personal injury liability is not discounted to present value due to the uncertainty surrounding the timing of future payments . approximately 94% ( 94 % ) of the recorded liability is related to asserted claims and approximately 6% ( 6 % ) is related to unasserted claims at december 31 , 2016 . because of the uncertainty surrounding the ultimate outcome of personal injury claims , it is reasonably possible that future costs to settle these claims may range from approximately $ 290 million to $ 317 million . we record an accrual at the low end of the range as no amount of loss within the range is more probable than any other . estimates can vary over time due to evolving trends in litigation. . Conversations: q0: what is the net difference in the maximum and minimum value of personal injury claims? 27.0 q1: what is that over the minimum value? 0.08517 Question: what is that displayed as a percent? Answer:

8.51735

convfinqa1147

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: the goldman sachs group , inc . and subsidiaries management 2019s discussion and analysis net revenues in equities were $ 6.60 billion , 4% ( 4 % ) lower than 2016 , primarily due to lower commissions and fees , reflecting a decline in our listed cash equity volumes in the u.s . market volumes in the u.s . also declined . in addition , net revenues in equities client execution were lower , reflecting lower net revenues in derivatives , partially offset by higher net revenues in cash products . net revenues in securities services were essentially unchanged . operating expenses were $ 9.69 billion for 2017 , essentially unchanged compared with 2016 , due to decreased compensation and benefits expenses , reflecting lower net revenues , largely offset by increased technology expenses , reflecting higher expenses related to cloud-based services and software depreciation , and increased consulting costs . pre-tax earnings were $ 2.21 billion in 2017 , 54% ( 54 % ) lower than 2016 . investing & lending investing & lending includes our investing activities and the origination of loans , including our relationship lending activities , to provide financing to clients . these investments and loans are typically longer-term in nature . we make investments , some of which are consolidated , including through our merchant banking business and our special situations group , in debt securities and loans , public and private equity securities , infrastructure and real estate entities . some of these investments are made indirectly through funds that we manage . we also make unsecured loans through our digital platform , marcus : by goldman sachs and secured loans through our digital platform , goldman sachs private bank select . the table below presents the operating results of our investing & lending segment. . <table class='wikitable'><tr><td>1</td><td>$ in millions</td><td>year ended december 2018</td><td>year ended december 2017</td><td>year ended december 2016</td></tr><tr><td>2</td><td>equity securities</td><td>$ 4455</td><td>$ 4578</td><td>$ 2573</td></tr><tr><td>3</td><td>debt securities and loans</td><td>3795</td><td>2660</td><td>1689</td></tr><tr><td>4</td><td>total net revenues</td><td>8250</td><td>7238</td><td>4262</td></tr><tr><td>5</td><td>provision for credit losses</td><td>674</td><td>657</td><td>182</td></tr><tr><td>6</td><td>operating expenses</td><td>3365</td><td>2796</td><td>2386</td></tr><tr><td>7</td><td>pre-taxearnings</td><td>$ 4211</td><td>$ 3785</td><td>$ 1694</td></tr></table> operating environment . during 2018 , our investments in private equities benefited from company-specific events , including sales , and strong corporate performance , while investments in public equities reflected losses , as global equity prices generally decreased . results for our investments in debt securities and loans reflected continued growth in loans receivables , resulting in higher net interest income . if macroeconomic concerns negatively affect corporate performance or the origination of loans , or if global equity prices continue to decline , net revenues in investing & lending would likely be negatively impacted . during 2017 , generally higher global equity prices and tighter credit spreads contributed to a favorable environment for our equity and debt investments . results also reflected net gains from company-specific events , including sales , and corporate performance . 2018 versus 2017 . net revenues in investing & lending were $ 8.25 billion for 2018 , 14% ( 14 % ) higher than 2017 . net revenues in equity securities were $ 4.46 billion , 3% ( 3 % ) lower than 2017 , reflecting net losses from investments in public equities ( 2018 included $ 183 million of net losses ) compared with net gains in the prior year , partially offset by significantly higher net gains from investments in private equities ( 2018 included $ 4.64 billion of net gains ) , driven by company-specific events , including sales , and corporate performance . for 2018 , 60% ( 60 % ) of the net revenues in equity securities were generated from corporate investments and 40% ( 40 % ) were generated from real estate . net revenues in debt securities and loans were $ 3.80 billion , 43% ( 43 % ) higher than 2017 , primarily driven by significantly higher net interest income . 2018 included net interest income of approximately $ 2.70 billion compared with approximately $ 1.80 billion in 2017 . provision for credit losses was $ 674 million for 2018 , compared with $ 657 million for 2017 , as the higher provision for credit losses primarily related to consumer loan growth in 2018 was partially offset by an impairment of approximately $ 130 million on a secured loan in 2017 . operating expenses were $ 3.37 billion for 2018 , 20% ( 20 % ) higher than 2017 , primarily due to increased expenses related to consolidated investments and our digital lending and deposit platform , and increased compensation and benefits expenses , reflecting higher net revenues . pre-tax earnings were $ 4.21 billion in 2018 , 11% ( 11 % ) higher than 2017 versus 2016 . net revenues in investing & lending were $ 7.24 billion for 2017 , 70% ( 70 % ) higher than 2016 . net revenues in equity securities were $ 4.58 billion , 78% ( 78 % ) higher than 2016 , primarily reflecting a significant increase in net gains from private equities ( 2017 included $ 3.82 billion of net gains ) , which were positively impacted by company-specific events and corporate performance . in addition , net gains from public equities ( 2017 included $ 762 million of net gains ) were significantly higher , as global equity prices increased during the year . for 2017 , 64% ( 64 % ) of the net revenues in equity securities were generated from corporate investments and 36% ( 36 % ) were generated from real estate . net revenues in debt securities and loans were $ 2.66 billion , 57% ( 57 % ) higher than 2016 , reflecting significantly higher net interest income ( 2017 included approximately $ 1.80 billion of net interest income ) . 60 goldman sachs 2018 form 10-k . Conversations: Question: what was the net change in pre-tax earnings from 2017 to 2018? Answer:

426.0

convfinqa1148

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: the goldman sachs group , inc . and subsidiaries management 2019s discussion and analysis net revenues in equities were $ 6.60 billion , 4% ( 4 % ) lower than 2016 , primarily due to lower commissions and fees , reflecting a decline in our listed cash equity volumes in the u.s . market volumes in the u.s . also declined . in addition , net revenues in equities client execution were lower , reflecting lower net revenues in derivatives , partially offset by higher net revenues in cash products . net revenues in securities services were essentially unchanged . operating expenses were $ 9.69 billion for 2017 , essentially unchanged compared with 2016 , due to decreased compensation and benefits expenses , reflecting lower net revenues , largely offset by increased technology expenses , reflecting higher expenses related to cloud-based services and software depreciation , and increased consulting costs . pre-tax earnings were $ 2.21 billion in 2017 , 54% ( 54 % ) lower than 2016 . investing & lending investing & lending includes our investing activities and the origination of loans , including our relationship lending activities , to provide financing to clients . these investments and loans are typically longer-term in nature . we make investments , some of which are consolidated , including through our merchant banking business and our special situations group , in debt securities and loans , public and private equity securities , infrastructure and real estate entities . some of these investments are made indirectly through funds that we manage . we also make unsecured loans through our digital platform , marcus : by goldman sachs and secured loans through our digital platform , goldman sachs private bank select . the table below presents the operating results of our investing & lending segment. . <table class='wikitable'><tr><td>1</td><td>$ in millions</td><td>year ended december 2018</td><td>year ended december 2017</td><td>year ended december 2016</td></tr><tr><td>2</td><td>equity securities</td><td>$ 4455</td><td>$ 4578</td><td>$ 2573</td></tr><tr><td>3</td><td>debt securities and loans</td><td>3795</td><td>2660</td><td>1689</td></tr><tr><td>4</td><td>total net revenues</td><td>8250</td><td>7238</td><td>4262</td></tr><tr><td>5</td><td>provision for credit losses</td><td>674</td><td>657</td><td>182</td></tr><tr><td>6</td><td>operating expenses</td><td>3365</td><td>2796</td><td>2386</td></tr><tr><td>7</td><td>pre-taxearnings</td><td>$ 4211</td><td>$ 3785</td><td>$ 1694</td></tr></table> operating environment . during 2018 , our investments in private equities benefited from company-specific events , including sales , and strong corporate performance , while investments in public equities reflected losses , as global equity prices generally decreased . results for our investments in debt securities and loans reflected continued growth in loans receivables , resulting in higher net interest income . if macroeconomic concerns negatively affect corporate performance or the origination of loans , or if global equity prices continue to decline , net revenues in investing & lending would likely be negatively impacted . during 2017 , generally higher global equity prices and tighter credit spreads contributed to a favorable environment for our equity and debt investments . results also reflected net gains from company-specific events , including sales , and corporate performance . 2018 versus 2017 . net revenues in investing & lending were $ 8.25 billion for 2018 , 14% ( 14 % ) higher than 2017 . net revenues in equity securities were $ 4.46 billion , 3% ( 3 % ) lower than 2017 , reflecting net losses from investments in public equities ( 2018 included $ 183 million of net losses ) compared with net gains in the prior year , partially offset by significantly higher net gains from investments in private equities ( 2018 included $ 4.64 billion of net gains ) , driven by company-specific events , including sales , and corporate performance . for 2018 , 60% ( 60 % ) of the net revenues in equity securities were generated from corporate investments and 40% ( 40 % ) were generated from real estate . net revenues in debt securities and loans were $ 3.80 billion , 43% ( 43 % ) higher than 2017 , primarily driven by significantly higher net interest income . 2018 included net interest income of approximately $ 2.70 billion compared with approximately $ 1.80 billion in 2017 . provision for credit losses was $ 674 million for 2018 , compared with $ 657 million for 2017 , as the higher provision for credit losses primarily related to consumer loan growth in 2018 was partially offset by an impairment of approximately $ 130 million on a secured loan in 2017 . operating expenses were $ 3.37 billion for 2018 , 20% ( 20 % ) higher than 2017 , primarily due to increased expenses related to consolidated investments and our digital lending and deposit platform , and increased compensation and benefits expenses , reflecting higher net revenues . pre-tax earnings were $ 4.21 billion in 2018 , 11% ( 11 % ) higher than 2017 versus 2016 . net revenues in investing & lending were $ 7.24 billion for 2017 , 70% ( 70 % ) higher than 2016 . net revenues in equity securities were $ 4.58 billion , 78% ( 78 % ) higher than 2016 , primarily reflecting a significant increase in net gains from private equities ( 2017 included $ 3.82 billion of net gains ) , which were positively impacted by company-specific events and corporate performance . in addition , net gains from public equities ( 2017 included $ 762 million of net gains ) were significantly higher , as global equity prices increased during the year . for 2017 , 64% ( 64 % ) of the net revenues in equity securities were generated from corporate investments and 36% ( 36 % ) were generated from real estate . net revenues in debt securities and loans were $ 2.66 billion , 57% ( 57 % ) higher than 2016 , reflecting significantly higher net interest income ( 2017 included approximately $ 1.80 billion of net interest income ) . 60 goldman sachs 2018 form 10-k . Conversations: q0: what was the net change in pre-tax earnings from 2017 to 2018? 426.0 Question: what is the percent change? Answer:

0.11255

convfinqa1149

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: 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 . <table class='wikitable'><tr><td>1</td><td>( millions )</td><td>2010</td><td>2009</td><td>2008</td></tr><tr><td>2</td><td>interest income</td><td>$ 34</td><td>$ 28</td><td>$ 26</td></tr><tr><td>3</td><td>royalty income</td><td>58</td><td>45</td><td>52</td></tr><tr><td>4</td><td>share of net earnings ( loss ) of equity affiliates ( see note 6 )</td><td>45</td><td>-5 ( 5 )</td><td>3</td></tr><tr><td>5</td><td>gain on sale of assets</td><td>8</td><td>36</td><td>23</td></tr><tr><td>6</td><td>other</td><td>69</td><td>74</td><td>61</td></tr><tr><td>7</td><td>total</td><td>$ 214</td><td>$ 178</td><td>$ 165</td></tr></table> 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 . Conversations: Question: in 2010, what percentage of other income was due to interest income? Answer:

0.15888

convfinqa1150

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: 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 . <table class='wikitable'><tr><td>1</td><td>( millions )</td><td>2010</td><td>2009</td><td>2008</td></tr><tr><td>2</td><td>interest income</td><td>$ 34</td><td>$ 28</td><td>$ 26</td></tr><tr><td>3</td><td>royalty income</td><td>58</td><td>45</td><td>52</td></tr><tr><td>4</td><td>share of net earnings ( loss ) of equity affiliates ( see note 6 )</td><td>45</td><td>-5 ( 5 )</td><td>3</td></tr><tr><td>5</td><td>gain on sale of assets</td><td>8</td><td>36</td><td>23</td></tr><tr><td>6</td><td>other</td><td>69</td><td>74</td><td>61</td></tr><tr><td>7</td><td>total</td><td>$ 214</td><td>$ 178</td><td>$ 165</td></tr></table> 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 . Conversations: q0: in 2010, what percentage of other income was due to interest income? 0.15888 Question: and was this interest income higher that the stock-based compensation cost for that year? Answer:

no

convfinqa1151

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: management 2019s discussion and analysis we believe our credit ratings are primarily based on the credit rating agencies 2019 assessment of : 2030 our liquidity , market , credit and operational risk management practices ; 2030 the level and variability of our earnings ; 2030 our capital base ; 2030 our franchise , reputation and management ; 2030 our corporate governance ; and 2030 the external operating environment , including , in some cases , the assumed level of government or other systemic support . certain of our derivatives have been transacted under bilateral agreements with counterparties who may require us to post collateral or terminate the transactions based on changes in our credit ratings . we assess the impact of these bilateral agreements by determining the collateral or termination payments that would occur assuming a downgrade by all rating agencies . a downgrade by any one rating agency , depending on the agency 2019s relative ratings of us at the time of the downgrade , may have an impact which is comparable to the impact of a downgrade by all rating agencies . we allocate a portion of our gcla to ensure we would be able to make the additional collateral or termination payments that may be required in the event of a two-notch reduction in our long-term credit ratings , as well as collateral that has not been called by counterparties , but is available to them . the table below presents the additional collateral or termination payments related to our net derivative liabilities under bilateral agreements that could have been called at the reporting date by counterparties in the event of a one-notch and two-notch downgrade in our credit ratings. . <table class='wikitable'><tr><td>1</td><td>$ in millions</td><td>as of december 2014</td><td>as of december 2013</td></tr><tr><td>2</td><td>additional collateral or termination payments for a one-notch downgrade</td><td>$ 1072</td><td>$ 911</td></tr><tr><td>3</td><td>additional collateral or termination payments for a two-notch downgrade</td><td>2815</td><td>2989</td></tr></table> $ in millions 2014 2013 additional collateral or termination payments for a one-notch downgrade $ 1072 $ 911 additional collateral or termination payments for a two-notch downgrade 2815 2989 cash flows as a global financial institution , our cash flows are complex and bear little relation to our net earnings and net assets . consequently , we believe that traditional cash flow analysis is less meaningful in evaluating our liquidity position than the liquidity and asset-liability management policies described above . cash flow analysis may , however , be helpful in highlighting certain macro trends and strategic initiatives in our businesses . year ended december 2014 . our cash and cash equivalents decreased by $ 3.53 billion to $ 57.60 billion at the end of 2014 . we used $ 22.53 billion in net cash for operating and investing activities , which reflects an initiative to reduce our balance sheet , and the funding of loans receivable . we generated $ 19.00 billion in net cash from financing activities from an increase in bank deposits and net proceeds from issuances of unsecured long-term borrowings , partially offset by repurchases of common stock . year ended december 2013 . our cash and cash equivalents decreased by $ 11.54 billion to $ 61.13 billion at the end of 2013 . we generated $ 4.54 billion in net cash from operating activities . we used net cash of $ 16.08 billion for investing and financing activities , primarily to fund loans receivable and repurchases of common stock . year ended december 2012 . our cash and cash equivalents increased by $ 16.66 billion to $ 72.67 billion at the end of 2012 . we generated $ 9.14 billion in net cash from operating and investing activities . we generated $ 7.52 billion in net cash from financing activities from an increase in bank deposits , partially offset by net repayments of unsecured and secured long-term borrowings . 78 goldman sachs 2014 annual report . Conversations: Question: what was the change in the required additional collateral or termination payments for a two-notch downgrade and additional collateral or termination payments for a one-notch downgrade in millions in 2014? Answer:

1743.0

convfinqa1152

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: management 2019s discussion and analysis we believe our credit ratings are primarily based on the credit rating agencies 2019 assessment of : 2030 our liquidity , market , credit and operational risk management practices ; 2030 the level and variability of our earnings ; 2030 our capital base ; 2030 our franchise , reputation and management ; 2030 our corporate governance ; and 2030 the external operating environment , including , in some cases , the assumed level of government or other systemic support . certain of our derivatives have been transacted under bilateral agreements with counterparties who may require us to post collateral or terminate the transactions based on changes in our credit ratings . we assess the impact of these bilateral agreements by determining the collateral or termination payments that would occur assuming a downgrade by all rating agencies . a downgrade by any one rating agency , depending on the agency 2019s relative ratings of us at the time of the downgrade , may have an impact which is comparable to the impact of a downgrade by all rating agencies . we allocate a portion of our gcla to ensure we would be able to make the additional collateral or termination payments that may be required in the event of a two-notch reduction in our long-term credit ratings , as well as collateral that has not been called by counterparties , but is available to them . the table below presents the additional collateral or termination payments related to our net derivative liabilities under bilateral agreements that could have been called at the reporting date by counterparties in the event of a one-notch and two-notch downgrade in our credit ratings. . <table class='wikitable'><tr><td>1</td><td>$ in millions</td><td>as of december 2014</td><td>as of december 2013</td></tr><tr><td>2</td><td>additional collateral or termination payments for a one-notch downgrade</td><td>$ 1072</td><td>$ 911</td></tr><tr><td>3</td><td>additional collateral or termination payments for a two-notch downgrade</td><td>2815</td><td>2989</td></tr></table> $ in millions 2014 2013 additional collateral or termination payments for a one-notch downgrade $ 1072 $ 911 additional collateral or termination payments for a two-notch downgrade 2815 2989 cash flows as a global financial institution , our cash flows are complex and bear little relation to our net earnings and net assets . consequently , we believe that traditional cash flow analysis is less meaningful in evaluating our liquidity position than the liquidity and asset-liability management policies described above . cash flow analysis may , however , be helpful in highlighting certain macro trends and strategic initiatives in our businesses . year ended december 2014 . our cash and cash equivalents decreased by $ 3.53 billion to $ 57.60 billion at the end of 2014 . we used $ 22.53 billion in net cash for operating and investing activities , which reflects an initiative to reduce our balance sheet , and the funding of loans receivable . we generated $ 19.00 billion in net cash from financing activities from an increase in bank deposits and net proceeds from issuances of unsecured long-term borrowings , partially offset by repurchases of common stock . year ended december 2013 . our cash and cash equivalents decreased by $ 11.54 billion to $ 61.13 billion at the end of 2013 . we generated $ 4.54 billion in net cash from operating activities . we used net cash of $ 16.08 billion for investing and financing activities , primarily to fund loans receivable and repurchases of common stock . year ended december 2012 . our cash and cash equivalents increased by $ 16.66 billion to $ 72.67 billion at the end of 2012 . we generated $ 9.14 billion in net cash from operating and investing activities . we generated $ 7.52 billion in net cash from financing activities from an increase in bank deposits , partially offset by net repayments of unsecured and secured long-term borrowings . 78 goldman sachs 2014 annual report . Conversations: q0: what was the change in the required additional collateral or termination payments for a two-notch downgrade and additional collateral or termination payments for a one-notch downgrade in millions in 2014? 1743.0 Question: and in 2013? Answer:

2078.0

convfinqa1153

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: part ii item 5 : market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities motorola 2019s common stock is listed on the new york and chicago stock exchanges . the number of stockholders of record of motorola common stock on january 31 , 2008 was 79907 . information regarding securities authorized for issuance under equity compensation plans is incorporated by reference to the information under the caption 201cequity compensation plan information 201d of motorola 2019s proxy statement for the 2008 annual meeting of stockholders . the remainder of the response to this item incorporates by reference note 16 , 201cquarterly and other financial data ( unaudited ) 201d of the notes to consolidated financial statements appearing under 201citem 8 : financial statements and supplementary data 201d . the following table provides information with respect to acquisitions by the company of shares of its common stock during the quarter ended december 31 , 2007 . issuer purchases of equity securities period ( a ) total number of shares purchased ( 1 ) ( 2 ) ( b ) average price paid per share ( 1 ) ( 3 ) ( c ) total number of shares purchased as part of publicly announced plans or programs ( 2 ) ( d ) maximum number ( or approximate dollar value ) of shares that may yet be purchased under the plans or programs ( 2 ) . <table class='wikitable'><tr><td>1</td><td>period</td><td>( a ) total number of shares purchased ( 1 ) ( 2 )</td><td>( b ) average price paid per share ( 1 ) ( 3 )</td><td>( c ) total number of shares purchased as part of publicly announced plans or programs ( 2 )</td><td>( d ) maximum number ( or approximate dollar value ) of shares that may yet be purchased under the plans or programs ( 2 )</td></tr><tr><td>2</td><td>9/30/07 to 10/26/07</td><td>2972951</td><td>$ 18.84</td><td>2964225</td><td>$ 4267375081</td></tr><tr><td>3</td><td>10/27/07 to 11/23/07</td><td>5709917</td><td>$ 17.23</td><td>5706600</td><td>$ 4169061854</td></tr><tr><td>4</td><td>11/24/07 to 12/31/07</td><td>25064045</td><td>$ 16.04</td><td>25064045</td><td>$ 3767061887</td></tr><tr><td>5</td><td>total</td><td>33746913</td><td>$ 16.49</td><td>33734870</td><td></td></tr></table> ( 1 ) in addition to purchases under the 2006 stock repurchase program ( as defined below ) , included in this column are transactions under the company 2019s equity compensation plans involving the delivery to the company of 12043 shares of motorola common stock to satisfy tax withholding obligations in connection with the vesting of restricted stock granted to company employees . ( 2 ) through actions taken on july 24 , 2006 and march 21 , 2007 , the board of directors has authorized the company to repurchase an aggregate amount of up to $ 7.5 billion of its outstanding shares of common stock over a period ending in june 2009 , subject to market conditions ( the 201c2006 stock repurchase program 201d ) . ( 3 ) average price paid per share of common stock repurchased under the 2006 stock repurchase program is execution price , excluding commissions paid to brokers. . Conversations: Question: in 2007, what was the number of shares purchased after november 24? Answer:

25064045.0

convfinqa1154

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: part ii item 5 : market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities motorola 2019s common stock is listed on the new york and chicago stock exchanges . the number of stockholders of record of motorola common stock on january 31 , 2008 was 79907 . information regarding securities authorized for issuance under equity compensation plans is incorporated by reference to the information under the caption 201cequity compensation plan information 201d of motorola 2019s proxy statement for the 2008 annual meeting of stockholders . the remainder of the response to this item incorporates by reference note 16 , 201cquarterly and other financial data ( unaudited ) 201d of the notes to consolidated financial statements appearing under 201citem 8 : financial statements and supplementary data 201d . the following table provides information with respect to acquisitions by the company of shares of its common stock during the quarter ended december 31 , 2007 . issuer purchases of equity securities period ( a ) total number of shares purchased ( 1 ) ( 2 ) ( b ) average price paid per share ( 1 ) ( 3 ) ( c ) total number of shares purchased as part of publicly announced plans or programs ( 2 ) ( d ) maximum number ( or approximate dollar value ) of shares that may yet be purchased under the plans or programs ( 2 ) . <table class='wikitable'><tr><td>1</td><td>period</td><td>( a ) total number of shares purchased ( 1 ) ( 2 )</td><td>( b ) average price paid per share ( 1 ) ( 3 )</td><td>( c ) total number of shares purchased as part of publicly announced plans or programs ( 2 )</td><td>( d ) maximum number ( or approximate dollar value ) of shares that may yet be purchased under the plans or programs ( 2 )</td></tr><tr><td>2</td><td>9/30/07 to 10/26/07</td><td>2972951</td><td>$ 18.84</td><td>2964225</td><td>$ 4267375081</td></tr><tr><td>3</td><td>10/27/07 to 11/23/07</td><td>5709917</td><td>$ 17.23</td><td>5706600</td><td>$ 4169061854</td></tr><tr><td>4</td><td>11/24/07 to 12/31/07</td><td>25064045</td><td>$ 16.04</td><td>25064045</td><td>$ 3767061887</td></tr><tr><td>5</td><td>total</td><td>33746913</td><td>$ 16.49</td><td>33734870</td><td></td></tr></table> ( 1 ) in addition to purchases under the 2006 stock repurchase program ( as defined below ) , included in this column are transactions under the company 2019s equity compensation plans involving the delivery to the company of 12043 shares of motorola common stock to satisfy tax withholding obligations in connection with the vesting of restricted stock granted to company employees . ( 2 ) through actions taken on july 24 , 2006 and march 21 , 2007 , the board of directors has authorized the company to repurchase an aggregate amount of up to $ 7.5 billion of its outstanding shares of common stock over a period ending in june 2009 , subject to market conditions ( the 201c2006 stock repurchase program 201d ) . ( 3 ) average price paid per share of common stock repurchased under the 2006 stock repurchase program is execution price , excluding commissions paid to brokers. . Conversations: q0: in 2007, what was the number of shares purchased after november 24? 25064045.0 Question: and what was the total number of shares purchased between september 30 and december 31 of that year? Answer:

33746913.0

convfinqa1155

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: part ii item 5 : market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities motorola 2019s common stock is listed on the new york and chicago stock exchanges . the number of stockholders of record of motorola common stock on january 31 , 2008 was 79907 . information regarding securities authorized for issuance under equity compensation plans is incorporated by reference to the information under the caption 201cequity compensation plan information 201d of motorola 2019s proxy statement for the 2008 annual meeting of stockholders . the remainder of the response to this item incorporates by reference note 16 , 201cquarterly and other financial data ( unaudited ) 201d of the notes to consolidated financial statements appearing under 201citem 8 : financial statements and supplementary data 201d . the following table provides information with respect to acquisitions by the company of shares of its common stock during the quarter ended december 31 , 2007 . issuer purchases of equity securities period ( a ) total number of shares purchased ( 1 ) ( 2 ) ( b ) average price paid per share ( 1 ) ( 3 ) ( c ) total number of shares purchased as part of publicly announced plans or programs ( 2 ) ( d ) maximum number ( or approximate dollar value ) of shares that may yet be purchased under the plans or programs ( 2 ) . <table class='wikitable'><tr><td>1</td><td>period</td><td>( a ) total number of shares purchased ( 1 ) ( 2 )</td><td>( b ) average price paid per share ( 1 ) ( 3 )</td><td>( c ) total number of shares purchased as part of publicly announced plans or programs ( 2 )</td><td>( d ) maximum number ( or approximate dollar value ) of shares that may yet be purchased under the plans or programs ( 2 )</td></tr><tr><td>2</td><td>9/30/07 to 10/26/07</td><td>2972951</td><td>$ 18.84</td><td>2964225</td><td>$ 4267375081</td></tr><tr><td>3</td><td>10/27/07 to 11/23/07</td><td>5709917</td><td>$ 17.23</td><td>5706600</td><td>$ 4169061854</td></tr><tr><td>4</td><td>11/24/07 to 12/31/07</td><td>25064045</td><td>$ 16.04</td><td>25064045</td><td>$ 3767061887</td></tr><tr><td>5</td><td>total</td><td>33746913</td><td>$ 16.49</td><td>33734870</td><td></td></tr></table> ( 1 ) in addition to purchases under the 2006 stock repurchase program ( as defined below ) , included in this column are transactions under the company 2019s equity compensation plans involving the delivery to the company of 12043 shares of motorola common stock to satisfy tax withholding obligations in connection with the vesting of restricted stock granted to company employees . ( 2 ) through actions taken on july 24 , 2006 and march 21 , 2007 , the board of directors has authorized the company to repurchase an aggregate amount of up to $ 7.5 billion of its outstanding shares of common stock over a period ending in june 2009 , subject to market conditions ( the 201c2006 stock repurchase program 201d ) . ( 3 ) average price paid per share of common stock repurchased under the 2006 stock repurchase program is execution price , excluding commissions paid to brokers. . Conversations: q0: in 2007, what was the number of shares purchased after november 24? 25064045.0 q1: and what was the total number of shares purchased between september 30 and december 31 of that year? 33746913.0 Question: what percentage, then, of this total did that november number represent? Answer:

0.74271

convfinqa1156

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: part ii item 5 : market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities motorola 2019s common stock is listed on the new york and chicago stock exchanges . the number of stockholders of record of motorola common stock on january 31 , 2008 was 79907 . information regarding securities authorized for issuance under equity compensation plans is incorporated by reference to the information under the caption 201cequity compensation plan information 201d of motorola 2019s proxy statement for the 2008 annual meeting of stockholders . the remainder of the response to this item incorporates by reference note 16 , 201cquarterly and other financial data ( unaudited ) 201d of the notes to consolidated financial statements appearing under 201citem 8 : financial statements and supplementary data 201d . the following table provides information with respect to acquisitions by the company of shares of its common stock during the quarter ended december 31 , 2007 . issuer purchases of equity securities period ( a ) total number of shares purchased ( 1 ) ( 2 ) ( b ) average price paid per share ( 1 ) ( 3 ) ( c ) total number of shares purchased as part of publicly announced plans or programs ( 2 ) ( d ) maximum number ( or approximate dollar value ) of shares that may yet be purchased under the plans or programs ( 2 ) . <table class='wikitable'><tr><td>1</td><td>period</td><td>( a ) total number of shares purchased ( 1 ) ( 2 )</td><td>( b ) average price paid per share ( 1 ) ( 3 )</td><td>( c ) total number of shares purchased as part of publicly announced plans or programs ( 2 )</td><td>( d ) maximum number ( or approximate dollar value ) of shares that may yet be purchased under the plans or programs ( 2 )</td></tr><tr><td>2</td><td>9/30/07 to 10/26/07</td><td>2972951</td><td>$ 18.84</td><td>2964225</td><td>$ 4267375081</td></tr><tr><td>3</td><td>10/27/07 to 11/23/07</td><td>5709917</td><td>$ 17.23</td><td>5706600</td><td>$ 4169061854</td></tr><tr><td>4</td><td>11/24/07 to 12/31/07</td><td>25064045</td><td>$ 16.04</td><td>25064045</td><td>$ 3767061887</td></tr><tr><td>5</td><td>total</td><td>33746913</td><td>$ 16.49</td><td>33734870</td><td></td></tr></table> ( 1 ) in addition to purchases under the 2006 stock repurchase program ( as defined below ) , included in this column are transactions under the company 2019s equity compensation plans involving the delivery to the company of 12043 shares of motorola common stock to satisfy tax withholding obligations in connection with the vesting of restricted stock granted to company employees . ( 2 ) through actions taken on july 24 , 2006 and march 21 , 2007 , the board of directors has authorized the company to repurchase an aggregate amount of up to $ 7.5 billion of its outstanding shares of common stock over a period ending in june 2009 , subject to market conditions ( the 201c2006 stock repurchase program 201d ) . ( 3 ) average price paid per share of common stock repurchased under the 2006 stock repurchase program is execution price , excluding commissions paid to brokers. . Conversations: q0: in 2007, what was the number of shares purchased after november 24? 25064045.0 q1: and what was the total number of shares purchased between september 30 and december 31 of that year? 33746913.0 q2: what percentage, then, of this total did that november number represent? 0.74271 Question: and concerning only the period between september 30 and october 26, how many shares could still be bought under the plans or programs, considering the average price? Answer:

226506108.33333

convfinqa1157

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: 58| | duke realty corporation annual report 2009 we recognized a loss of $ 1.1 million upon acquisition , which represents the difference between the fair value of the recognized assets and the carrying value of our pre-existing equity interest . the acquisition date fair value of the net recognized assets as compared to the acquisition date carrying value of our outstanding advances and accrued interest , as well as the acquisition date carrying value of our pre-existing equity interests , is shown as follows ( in thousands ) : . <table class='wikitable'><tr><td>1</td><td>net fair value of acquired assets and liabilities</td><td>$ 206852</td></tr><tr><td>2</td><td>less advances to acquired entities eliminated upon consolidation</td><td>-173006 ( 173006 )</td></tr><tr><td>3</td><td>less acquisition date carrying value of equity in acquired entities</td><td>-34908 ( 34908 )</td></tr><tr><td>4</td><td>loss on business combination</td><td>$ -1062 ( 1062 )</td></tr></table> since april 1 , 2009 , the results of operations for both acquired entities have been included in continuing operations in our consolidated financial statements . due to our significant pre-existing ownership and financing positions in the two acquired entities , the inclusion of their results of operations did not have a material effect on our operating income . acquisitions we acquired income producing real estate related assets of $ 32.1 million , $ 60.5 million and $ 219.9 million in 2009 , 2008 and 2007 , respectively . in december 2007 , in order to further establish our property positions around strategic port locations , we purchased a portfolio of five industrial buildings in seattle , virginia and houston , as well as approximately 161 acres of undeveloped land and a 12-acre container storage facility in houston . the total price was $ 89.7 million and was financed in part through assumption of secured debt that had a fair value of $ 34.3 million . of the total purchase price , $ 64.1 million was allocated to in-service real estate assets , $ 20.0 million was allocated to undeveloped land and the container storage facility , $ 5.4 million was allocated to lease related intangible assets , and the remaining amount was allocated to acquired working capital related assets and liabilities . the results of operations for the acquired properties since the date of acquisition have been included in continuing rental operations in our consolidated financial statements . all other acquisitions were not individually material . dispositions we disposed of income producing real estate related assets with gross proceeds of $ 267.0 million , $ 426.2 million and $ 590.4 million in 2009 , 2008 and 2007 , respectively . we sold five properties in 2009 and seven properties in 2008 to an unconsolidated joint venture . the gross proceeds totaled $ 84.3 million and $ 226.2 million for the years ended december 31 , 2009 and 2008 , respectively . in march 2007 , as part of our capital recycling program , we sold a portfolio of eight suburban office properties totaling 894000 square feet in the cleveland market . the sales price totaled $ 140.4 million , of which we received net proceeds of $ 139.3 million . we also sold a portfolio of twelve flex and light industrial properties in july 2007 , totaling 865000 square feet in the st . louis market , for a sales price of $ 65.0 million , of which we received net proceeds of $ 64.2 million . all other dispositions were not individually material . ( 4 ) related party transactions we provide property management , leasing , construction and other tenant related services to unconsolidated companies in which we have equity interests . for the years ended december 31 , 2009 , 2008 and 2007 , respectively , we earned management fees of $ 8.4 million , $ 7.8 million and $ 7.1 million , leasing fees of $ 4.2 million , $ 2.8 million and $ 4.2 million and construction and development fees of $ 10.2 million , $ 12.7 million and $ 13.1 million from these companies . we recorded these fees based on contractual terms that approximate market rates for these types of . Conversations: Question: what was the value of advances to acquired entities eliminated upon consolidation? Answer:

173006.0

convfinqa1158

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: 58| | duke realty corporation annual report 2009 we recognized a loss of $ 1.1 million upon acquisition , which represents the difference between the fair value of the recognized assets and the carrying value of our pre-existing equity interest . the acquisition date fair value of the net recognized assets as compared to the acquisition date carrying value of our outstanding advances and accrued interest , as well as the acquisition date carrying value of our pre-existing equity interests , is shown as follows ( in thousands ) : . <table class='wikitable'><tr><td>1</td><td>net fair value of acquired assets and liabilities</td><td>$ 206852</td></tr><tr><td>2</td><td>less advances to acquired entities eliminated upon consolidation</td><td>-173006 ( 173006 )</td></tr><tr><td>3</td><td>less acquisition date carrying value of equity in acquired entities</td><td>-34908 ( 34908 )</td></tr><tr><td>4</td><td>loss on business combination</td><td>$ -1062 ( 1062 )</td></tr></table> since april 1 , 2009 , the results of operations for both acquired entities have been included in continuing operations in our consolidated financial statements . due to our significant pre-existing ownership and financing positions in the two acquired entities , the inclusion of their results of operations did not have a material effect on our operating income . acquisitions we acquired income producing real estate related assets of $ 32.1 million , $ 60.5 million and $ 219.9 million in 2009 , 2008 and 2007 , respectively . in december 2007 , in order to further establish our property positions around strategic port locations , we purchased a portfolio of five industrial buildings in seattle , virginia and houston , as well as approximately 161 acres of undeveloped land and a 12-acre container storage facility in houston . the total price was $ 89.7 million and was financed in part through assumption of secured debt that had a fair value of $ 34.3 million . of the total purchase price , $ 64.1 million was allocated to in-service real estate assets , $ 20.0 million was allocated to undeveloped land and the container storage facility , $ 5.4 million was allocated to lease related intangible assets , and the remaining amount was allocated to acquired working capital related assets and liabilities . the results of operations for the acquired properties since the date of acquisition have been included in continuing rental operations in our consolidated financial statements . all other acquisitions were not individually material . dispositions we disposed of income producing real estate related assets with gross proceeds of $ 267.0 million , $ 426.2 million and $ 590.4 million in 2009 , 2008 and 2007 , respectively . we sold five properties in 2009 and seven properties in 2008 to an unconsolidated joint venture . the gross proceeds totaled $ 84.3 million and $ 226.2 million for the years ended december 31 , 2009 and 2008 , respectively . in march 2007 , as part of our capital recycling program , we sold a portfolio of eight suburban office properties totaling 894000 square feet in the cleveland market . the sales price totaled $ 140.4 million , of which we received net proceeds of $ 139.3 million . we also sold a portfolio of twelve flex and light industrial properties in july 2007 , totaling 865000 square feet in the st . louis market , for a sales price of $ 65.0 million , of which we received net proceeds of $ 64.2 million . all other dispositions were not individually material . ( 4 ) related party transactions we provide property management , leasing , construction and other tenant related services to unconsolidated companies in which we have equity interests . for the years ended december 31 , 2009 , 2008 and 2007 , respectively , we earned management fees of $ 8.4 million , $ 7.8 million and $ 7.1 million , leasing fees of $ 4.2 million , $ 2.8 million and $ 4.2 million and construction and development fees of $ 10.2 million , $ 12.7 million and $ 13.1 million from these companies . we recorded these fees based on contractual terms that approximate market rates for these types of . Conversations: q0: what was the value of advances to acquired entities eliminated upon consolidation? 173006.0 Question: what was the value of acquisition date carrying value of equity in acquired entities? Answer:

34908.0

convfinqa1159

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: 58| | duke realty corporation annual report 2009 we recognized a loss of $ 1.1 million upon acquisition , which represents the difference between the fair value of the recognized assets and the carrying value of our pre-existing equity interest . the acquisition date fair value of the net recognized assets as compared to the acquisition date carrying value of our outstanding advances and accrued interest , as well as the acquisition date carrying value of our pre-existing equity interests , is shown as follows ( in thousands ) : . <table class='wikitable'><tr><td>1</td><td>net fair value of acquired assets and liabilities</td><td>$ 206852</td></tr><tr><td>2</td><td>less advances to acquired entities eliminated upon consolidation</td><td>-173006 ( 173006 )</td></tr><tr><td>3</td><td>less acquisition date carrying value of equity in acquired entities</td><td>-34908 ( 34908 )</td></tr><tr><td>4</td><td>loss on business combination</td><td>$ -1062 ( 1062 )</td></tr></table> since april 1 , 2009 , the results of operations for both acquired entities have been included in continuing operations in our consolidated financial statements . due to our significant pre-existing ownership and financing positions in the two acquired entities , the inclusion of their results of operations did not have a material effect on our operating income . acquisitions we acquired income producing real estate related assets of $ 32.1 million , $ 60.5 million and $ 219.9 million in 2009 , 2008 and 2007 , respectively . in december 2007 , in order to further establish our property positions around strategic port locations , we purchased a portfolio of five industrial buildings in seattle , virginia and houston , as well as approximately 161 acres of undeveloped land and a 12-acre container storage facility in houston . the total price was $ 89.7 million and was financed in part through assumption of secured debt that had a fair value of $ 34.3 million . of the total purchase price , $ 64.1 million was allocated to in-service real estate assets , $ 20.0 million was allocated to undeveloped land and the container storage facility , $ 5.4 million was allocated to lease related intangible assets , and the remaining amount was allocated to acquired working capital related assets and liabilities . the results of operations for the acquired properties since the date of acquisition have been included in continuing rental operations in our consolidated financial statements . all other acquisitions were not individually material . dispositions we disposed of income producing real estate related assets with gross proceeds of $ 267.0 million , $ 426.2 million and $ 590.4 million in 2009 , 2008 and 2007 , respectively . we sold five properties in 2009 and seven properties in 2008 to an unconsolidated joint venture . the gross proceeds totaled $ 84.3 million and $ 226.2 million for the years ended december 31 , 2009 and 2008 , respectively . in march 2007 , as part of our capital recycling program , we sold a portfolio of eight suburban office properties totaling 894000 square feet in the cleveland market . the sales price totaled $ 140.4 million , of which we received net proceeds of $ 139.3 million . we also sold a portfolio of twelve flex and light industrial properties in july 2007 , totaling 865000 square feet in the st . louis market , for a sales price of $ 65.0 million , of which we received net proceeds of $ 64.2 million . all other dispositions were not individually material . ( 4 ) related party transactions we provide property management , leasing , construction and other tenant related services to unconsolidated companies in which we have equity interests . for the years ended december 31 , 2009 , 2008 and 2007 , respectively , we earned management fees of $ 8.4 million , $ 7.8 million and $ 7.1 million , leasing fees of $ 4.2 million , $ 2.8 million and $ 4.2 million and construction and development fees of $ 10.2 million , $ 12.7 million and $ 13.1 million from these companies . we recorded these fees based on contractual terms that approximate market rates for these types of . Conversations: q0: what was the value of advances to acquired entities eliminated upon consolidation? 173006.0 q1: what was the value of acquisition date carrying value of equity in acquired entities? 34908.0 Question: what is the sum? Answer:

207914.0

convfinqa1160

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: 58| | duke realty corporation annual report 2009 we recognized a loss of $ 1.1 million upon acquisition , which represents the difference between the fair value of the recognized assets and the carrying value of our pre-existing equity interest . the acquisition date fair value of the net recognized assets as compared to the acquisition date carrying value of our outstanding advances and accrued interest , as well as the acquisition date carrying value of our pre-existing equity interests , is shown as follows ( in thousands ) : . <table class='wikitable'><tr><td>1</td><td>net fair value of acquired assets and liabilities</td><td>$ 206852</td></tr><tr><td>2</td><td>less advances to acquired entities eliminated upon consolidation</td><td>-173006 ( 173006 )</td></tr><tr><td>3</td><td>less acquisition date carrying value of equity in acquired entities</td><td>-34908 ( 34908 )</td></tr><tr><td>4</td><td>loss on business combination</td><td>$ -1062 ( 1062 )</td></tr></table> since april 1 , 2009 , the results of operations for both acquired entities have been included in continuing operations in our consolidated financial statements . due to our significant pre-existing ownership and financing positions in the two acquired entities , the inclusion of their results of operations did not have a material effect on our operating income . acquisitions we acquired income producing real estate related assets of $ 32.1 million , $ 60.5 million and $ 219.9 million in 2009 , 2008 and 2007 , respectively . in december 2007 , in order to further establish our property positions around strategic port locations , we purchased a portfolio of five industrial buildings in seattle , virginia and houston , as well as approximately 161 acres of undeveloped land and a 12-acre container storage facility in houston . the total price was $ 89.7 million and was financed in part through assumption of secured debt that had a fair value of $ 34.3 million . of the total purchase price , $ 64.1 million was allocated to in-service real estate assets , $ 20.0 million was allocated to undeveloped land and the container storage facility , $ 5.4 million was allocated to lease related intangible assets , and the remaining amount was allocated to acquired working capital related assets and liabilities . the results of operations for the acquired properties since the date of acquisition have been included in continuing rental operations in our consolidated financial statements . all other acquisitions were not individually material . dispositions we disposed of income producing real estate related assets with gross proceeds of $ 267.0 million , $ 426.2 million and $ 590.4 million in 2009 , 2008 and 2007 , respectively . we sold five properties in 2009 and seven properties in 2008 to an unconsolidated joint venture . the gross proceeds totaled $ 84.3 million and $ 226.2 million for the years ended december 31 , 2009 and 2008 , respectively . in march 2007 , as part of our capital recycling program , we sold a portfolio of eight suburban office properties totaling 894000 square feet in the cleveland market . the sales price totaled $ 140.4 million , of which we received net proceeds of $ 139.3 million . we also sold a portfolio of twelve flex and light industrial properties in july 2007 , totaling 865000 square feet in the st . louis market , for a sales price of $ 65.0 million , of which we received net proceeds of $ 64.2 million . all other dispositions were not individually material . ( 4 ) related party transactions we provide property management , leasing , construction and other tenant related services to unconsolidated companies in which we have equity interests . for the years ended december 31 , 2009 , 2008 and 2007 , respectively , we earned management fees of $ 8.4 million , $ 7.8 million and $ 7.1 million , leasing fees of $ 4.2 million , $ 2.8 million and $ 4.2 million and construction and development fees of $ 10.2 million , $ 12.7 million and $ 13.1 million from these companies . we recorded these fees based on contractual terms that approximate market rates for these types of . Conversations: q0: what was the value of advances to acquired entities eliminated upon consolidation? 173006.0 q1: what was the value of acquisition date carrying value of equity in acquired entities? 34908.0 q2: what is the sum? 207914.0 Question: what is that sum divided by the net fair value of acquired assets and liabilities? Answer:

1.00513

convfinqa1161

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: stock performance graph the following performance graph compares the cumulative total return ( including dividends ) to the holders of our common stock from december 31 , 2002 through december 31 , 2007 , with the cumulative total returns of the nyse composite index , the ftse nareit composite reit index ( the 201call reit index 201d ) , the ftse nareit healthcare equity reit index ( the 201chealthcare reit index 201d ) and the russell 1000 index over the same period . the comparison assumes $ 100 was invested on december 31 , 2002 in our common stock and in each of the foregoing indices and assumes reinvestment of dividends , as applicable . we have included the nyse composite index in the performance graph because our common stock is listed on the nyse . we have included the other indices because we believe that they are either most representative of the industry in which we compete , or otherwise provide a fair basis for comparison with ventas , and are therefore particularly relevant to an assessment of our performance . the figures in the table below are rounded to the nearest dollar. . <table class='wikitable'><tr><td>1</td><td></td><td>12/31/2002</td><td>12/31/2003</td><td>12/31/2004</td><td>12/31/2005</td><td>12/31/2006</td><td>12/31/2007</td></tr><tr><td>2</td><td>ventas</td><td>$ 100</td><td>$ 206</td><td>$ 270</td><td>$ 331</td><td>$ 457</td><td>$ 512</td></tr><tr><td>3</td><td>nyse composite index</td><td>$ 100</td><td>$ 132</td><td>$ 151</td><td>$ 166</td><td>$ 200</td><td>$ 217</td></tr><tr><td>4</td><td>all reit index</td><td>$ 100</td><td>$ 138</td><td>$ 181</td><td>$ 196</td><td>$ 262</td><td>$ 215</td></tr><tr><td>5</td><td>healthcare reit index</td><td>$ 100</td><td>$ 154</td><td>$ 186</td><td>$ 189</td><td>$ 273</td><td>$ 279</td></tr><tr><td>6</td><td>russell 1000 index</td><td>$ 100</td><td>$ 130</td><td>$ 145</td><td>$ 154</td><td>$ 178</td><td>$ 188</td></tr></table> ventas nyse composite index all reit index healthcare reit index russell 1000 index . Conversations: Question: what was the difference between the share price of ventas between 12/31/02 and 12/31/03? Answer:

106.0

convfinqa1162

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: stock performance graph the following performance graph compares the cumulative total return ( including dividends ) to the holders of our common stock from december 31 , 2002 through december 31 , 2007 , with the cumulative total returns of the nyse composite index , the ftse nareit composite reit index ( the 201call reit index 201d ) , the ftse nareit healthcare equity reit index ( the 201chealthcare reit index 201d ) and the russell 1000 index over the same period . the comparison assumes $ 100 was invested on december 31 , 2002 in our common stock and in each of the foregoing indices and assumes reinvestment of dividends , as applicable . we have included the nyse composite index in the performance graph because our common stock is listed on the nyse . we have included the other indices because we believe that they are either most representative of the industry in which we compete , or otherwise provide a fair basis for comparison with ventas , and are therefore particularly relevant to an assessment of our performance . the figures in the table below are rounded to the nearest dollar. . <table class='wikitable'><tr><td>1</td><td></td><td>12/31/2002</td><td>12/31/2003</td><td>12/31/2004</td><td>12/31/2005</td><td>12/31/2006</td><td>12/31/2007</td></tr><tr><td>2</td><td>ventas</td><td>$ 100</td><td>$ 206</td><td>$ 270</td><td>$ 331</td><td>$ 457</td><td>$ 512</td></tr><tr><td>3</td><td>nyse composite index</td><td>$ 100</td><td>$ 132</td><td>$ 151</td><td>$ 166</td><td>$ 200</td><td>$ 217</td></tr><tr><td>4</td><td>all reit index</td><td>$ 100</td><td>$ 138</td><td>$ 181</td><td>$ 196</td><td>$ 262</td><td>$ 215</td></tr><tr><td>5</td><td>healthcare reit index</td><td>$ 100</td><td>$ 154</td><td>$ 186</td><td>$ 189</td><td>$ 273</td><td>$ 279</td></tr><tr><td>6</td><td>russell 1000 index</td><td>$ 100</td><td>$ 130</td><td>$ 145</td><td>$ 154</td><td>$ 178</td><td>$ 188</td></tr></table> ventas nyse composite index all reit index healthcare reit index russell 1000 index . Conversations: q0: what was the difference between the share price of ventas between 12/31/02 and 12/31/03? 106.0 Question: and the growth rate during this time? Answer:

1.06

convfinqa1163

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: measurement point december 31 booking holdings nasdaq composite index s&p 500 rdg internet composite . <table class='wikitable'><tr><td>1</td><td>measurement pointdecember 31</td><td>booking holdings inc .</td><td>nasdaqcomposite index</td><td>s&p 500index</td><td>rdg internetcomposite</td></tr><tr><td>2</td><td>2012</td><td>100.00</td><td>100.00</td><td>100.00</td><td>100.00</td></tr><tr><td>3</td><td>2013</td><td>187.37</td><td>141.63</td><td>132.39</td><td>163.02</td></tr><tr><td>4</td><td>2014</td><td>183.79</td><td>162.09</td><td>150.51</td><td>158.81</td></tr><tr><td>5</td><td>2015</td><td>205.51</td><td>173.33</td><td>152.59</td><td>224.05</td></tr><tr><td>6</td><td>2016</td><td>236.31</td><td>187.19</td><td>170.84</td><td>235.33</td></tr><tr><td>7</td><td>2017</td><td>280.10</td><td>242.29</td><td>208.14</td><td>338.52</td></tr></table> sales of unregistered securities between october 1 , 2017 and december 31 , 2017 , we issued 103343 shares of our common stock in connection with the conversion of $ 196.1 million principal amount of our 1.0% ( 1.0 % ) convertible senior notes due 2018 . the conversions were effected in accordance with the indenture , which provides that the principal amount of converted notes be paid in cash and the conversion premium be paid in cash and/or shares of common stock at our election . in each case , we chose to pay the conversion premium in shares of common stock ( fractional shares are paid in cash ) . the issuances of the shares were not registered under the securities act of 1933 , as amended ( the "act" ) pursuant to section 3 ( a ) ( 9 ) of the act. . Conversations: Question: what was the price of booking holdings inc. in 2017? Answer:

280.1

convfinqa1164

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: measurement point december 31 booking holdings nasdaq composite index s&p 500 rdg internet composite . <table class='wikitable'><tr><td>1</td><td>measurement pointdecember 31</td><td>booking holdings inc .</td><td>nasdaqcomposite index</td><td>s&p 500index</td><td>rdg internetcomposite</td></tr><tr><td>2</td><td>2012</td><td>100.00</td><td>100.00</td><td>100.00</td><td>100.00</td></tr><tr><td>3</td><td>2013</td><td>187.37</td><td>141.63</td><td>132.39</td><td>163.02</td></tr><tr><td>4</td><td>2014</td><td>183.79</td><td>162.09</td><td>150.51</td><td>158.81</td></tr><tr><td>5</td><td>2015</td><td>205.51</td><td>173.33</td><td>152.59</td><td>224.05</td></tr><tr><td>6</td><td>2016</td><td>236.31</td><td>187.19</td><td>170.84</td><td>235.33</td></tr><tr><td>7</td><td>2017</td><td>280.10</td><td>242.29</td><td>208.14</td><td>338.52</td></tr></table> sales of unregistered securities between october 1 , 2017 and december 31 , 2017 , we issued 103343 shares of our common stock in connection with the conversion of $ 196.1 million principal amount of our 1.0% ( 1.0 % ) convertible senior notes due 2018 . the conversions were effected in accordance with the indenture , which provides that the principal amount of converted notes be paid in cash and the conversion premium be paid in cash and/or shares of common stock at our election . in each case , we chose to pay the conversion premium in shares of common stock ( fractional shares are paid in cash ) . the issuances of the shares were not registered under the securities act of 1933 , as amended ( the "act" ) pursuant to section 3 ( a ) ( 9 ) of the act. . Conversations: q0: what was the price of booking holdings inc. in 2017? 280.1 Question: and the change in price between this time and the original investment? Answer:

180.1

convfinqa1165

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: measurement point december 31 booking holdings nasdaq composite index s&p 500 rdg internet composite . <table class='wikitable'><tr><td>1</td><td>measurement pointdecember 31</td><td>booking holdings inc .</td><td>nasdaqcomposite index</td><td>s&p 500index</td><td>rdg internetcomposite</td></tr><tr><td>2</td><td>2012</td><td>100.00</td><td>100.00</td><td>100.00</td><td>100.00</td></tr><tr><td>3</td><td>2013</td><td>187.37</td><td>141.63</td><td>132.39</td><td>163.02</td></tr><tr><td>4</td><td>2014</td><td>183.79</td><td>162.09</td><td>150.51</td><td>158.81</td></tr><tr><td>5</td><td>2015</td><td>205.51</td><td>173.33</td><td>152.59</td><td>224.05</td></tr><tr><td>6</td><td>2016</td><td>236.31</td><td>187.19</td><td>170.84</td><td>235.33</td></tr><tr><td>7</td><td>2017</td><td>280.10</td><td>242.29</td><td>208.14</td><td>338.52</td></tr></table> sales of unregistered securities between october 1 , 2017 and december 31 , 2017 , we issued 103343 shares of our common stock in connection with the conversion of $ 196.1 million principal amount of our 1.0% ( 1.0 % ) convertible senior notes due 2018 . the conversions were effected in accordance with the indenture , which provides that the principal amount of converted notes be paid in cash and the conversion premium be paid in cash and/or shares of common stock at our election . in each case , we chose to pay the conversion premium in shares of common stock ( fractional shares are paid in cash ) . the issuances of the shares were not registered under the securities act of 1933 , as amended ( the "act" ) pursuant to section 3 ( a ) ( 9 ) of the act. . Conversations: q0: what was the price of booking holdings inc. in 2017? 280.1 q1: and the change in price between this time and the original investment? 180.1 Question: and the percentage change during this time? Answer:

1.801

convfinqa1166

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: when the likelihood of clawback is considered mathematically improbable . the company records a deferred carried interest liability to the extent it receives cash or capital allocations related to carried interest prior to meeting the revenue recognition criteria . at december 31 , 2017 and 2016 , the company had $ 219 million and $ 152 million , respectively , of deferred carried interest recorded in other liabilities/other liabilities of consolidated vies on the consolidated statements of financial condition . a portion of the deferred carried interest liability will be paid to certain employees . the ultimate timing of the recognition of performance fee revenue , if any , for these products is unknown . the following table presents changes in the deferred carried interest liability ( including the portion related to consolidated vies ) for 2017 and 2016: . <table class='wikitable'><tr><td>1</td><td>( in millions )</td><td>2017</td><td>2016</td></tr><tr><td>2</td><td>beginning balance</td><td>$ 152</td><td>$ 143</td></tr><tr><td>3</td><td>net increase ( decrease ) in unrealized allocations</td><td>75</td><td>37</td></tr><tr><td>4</td><td>performance fee revenue recognized</td><td>-21 ( 21 )</td><td>-28 ( 28 )</td></tr><tr><td>5</td><td>acquisition</td><td>13</td><td>2014</td></tr><tr><td>6</td><td>ending balance</td><td>$ 219</td><td>$ 152</td></tr></table> for 2017 , 2016 and 2015 , performance fee revenue ( which included recognized carried interest ) totaled $ 594 million , $ 295 million and $ 621 million , respectively . fees earned for technology and risk management revenue are recorded as services are performed and are generally determined using the value of positions on the aladdin platform or on a fixed-rate basis . for 2017 , 2016 and 2016 , technology and risk management revenue totaled $ 677 million , $ 595 million and $ 528 million , respectively . adjustments to revenue arising from initial estimates recorded historically have been immaterial since the majority of blackrock 2019s investment advisory and administration revenue is calculated based on aum and since the company does not record performance fee revenue until performance thresholds have been exceeded and the likelihood of clawback is mathematically improbable . accounting developments recent accounting pronouncements not yet adopted . revenue from contracts with customers . in may 2014 , the financial accounting standards board ( 201cfasb 201d ) issued accounting standards update ( 201casu 201d ) 2014-09 , revenue from contracts with customers ( 201casu 2014-09 201d ) . asu 2014-09 outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance , including industry-specific guidance . the guidance also changes the accounting for certain contract costs and revises the criteria for determining if an entity is acting as a principal or agent in certain arrangements . the key changes in the standard that impact the company 2019s revenue recognition relate to the presentation of certain revenue contracts and associated contract costs . the most significant of these changes relates to the presentation of certain distribution costs , which are currently presented net against revenues ( contra-revenue ) and will be presented as an expense on a gross basis . the company adopted asu 2014-09 effective january 1 , 2018 on a full retrospective basis , which will require 2016 and 2017 to be restated in future filings . the cumulative effect adjustment to the 2016 opening retained earnings was not material . the company currently expects the net gross up to revenue to be approximately $ 1 billion with a corresponding gross up to expense for both 2016 and 2017 . consequently , the company expects its gaap operating margin to decline upon adoption due to the gross up of revenue . however , no material impact is expected on the company 2019s as adjusted operating margin . for accounting pronouncements that the company adopted during the year ended december 31 , 2017 and for additional recent accounting pronouncements not yet adopted , see note 2 , significant accounting policies , in the consolidated financial statements contained in part ii , item 8 of this filing . item 7a . quantitative and qualitative disclosures about market risk aum market price risk . blackrock 2019s investment advisory and administration fees are primarily comprised of fees based on a percentage of the value of aum and , in some cases , performance fees expressed as a percentage of the returns realized on aum . at december 31 , 2017 , the majority of the company 2019s investment advisory and administration fees were based on average or period end aum of the applicable investment funds or separate accounts . movements in equity market prices , interest rates/credit spreads , foreign exchange rates or all three could cause the value of aum to decline , which would result in lower investment advisory and administration fees . corporate investments portfolio risks . as a leading investment management firm , blackrock devotes significant resources across all of its operations to identifying , measuring , monitoring , managing and analyzing market and operating risks , including the management and oversight of its own investment portfolio . the board of directors of the company has adopted guidelines for the review of investments to be made by the company , requiring , among other things , that investments be reviewed by certain senior officers of the company , and that certain investments may be referred to the audit committee or the board of directors , depending on the circumstances , for approval . in the normal course of its business , blackrock is exposed to equity market price risk , interest rate/credit spread risk and foreign exchange rate risk associated with its corporate investments . blackrock has investments primarily in sponsored investment products that invest in a variety of asset classes , including real assets , private equity and hedge funds . investments generally are made for co-investment purposes , to establish a performance track record , to hedge exposure to certain deferred compensation plans or for regulatory purposes . currently , the company has a seed capital hedging program in which it enters into swaps to hedge market and interest rate exposure to certain investments . at december 31 , 2017 , the company had outstanding total return swaps with an aggregate notional value of approximately $ 587 million . at december 31 , 2017 , there were no outstanding interest rate swaps. . Conversations: Question: what is the revenue related technology and risk management in 2016? Answer:

595.0

convfinqa1167

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: when the likelihood of clawback is considered mathematically improbable . the company records a deferred carried interest liability to the extent it receives cash or capital allocations related to carried interest prior to meeting the revenue recognition criteria . at december 31 , 2017 and 2016 , the company had $ 219 million and $ 152 million , respectively , of deferred carried interest recorded in other liabilities/other liabilities of consolidated vies on the consolidated statements of financial condition . a portion of the deferred carried interest liability will be paid to certain employees . the ultimate timing of the recognition of performance fee revenue , if any , for these products is unknown . the following table presents changes in the deferred carried interest liability ( including the portion related to consolidated vies ) for 2017 and 2016: . <table class='wikitable'><tr><td>1</td><td>( in millions )</td><td>2017</td><td>2016</td></tr><tr><td>2</td><td>beginning balance</td><td>$ 152</td><td>$ 143</td></tr><tr><td>3</td><td>net increase ( decrease ) in unrealized allocations</td><td>75</td><td>37</td></tr><tr><td>4</td><td>performance fee revenue recognized</td><td>-21 ( 21 )</td><td>-28 ( 28 )</td></tr><tr><td>5</td><td>acquisition</td><td>13</td><td>2014</td></tr><tr><td>6</td><td>ending balance</td><td>$ 219</td><td>$ 152</td></tr></table> for 2017 , 2016 and 2015 , performance fee revenue ( which included recognized carried interest ) totaled $ 594 million , $ 295 million and $ 621 million , respectively . fees earned for technology and risk management revenue are recorded as services are performed and are generally determined using the value of positions on the aladdin platform or on a fixed-rate basis . for 2017 , 2016 and 2016 , technology and risk management revenue totaled $ 677 million , $ 595 million and $ 528 million , respectively . adjustments to revenue arising from initial estimates recorded historically have been immaterial since the majority of blackrock 2019s investment advisory and administration revenue is calculated based on aum and since the company does not record performance fee revenue until performance thresholds have been exceeded and the likelihood of clawback is mathematically improbable . accounting developments recent accounting pronouncements not yet adopted . revenue from contracts with customers . in may 2014 , the financial accounting standards board ( 201cfasb 201d ) issued accounting standards update ( 201casu 201d ) 2014-09 , revenue from contracts with customers ( 201casu 2014-09 201d ) . asu 2014-09 outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance , including industry-specific guidance . the guidance also changes the accounting for certain contract costs and revises the criteria for determining if an entity is acting as a principal or agent in certain arrangements . the key changes in the standard that impact the company 2019s revenue recognition relate to the presentation of certain revenue contracts and associated contract costs . the most significant of these changes relates to the presentation of certain distribution costs , which are currently presented net against revenues ( contra-revenue ) and will be presented as an expense on a gross basis . the company adopted asu 2014-09 effective january 1 , 2018 on a full retrospective basis , which will require 2016 and 2017 to be restated in future filings . the cumulative effect adjustment to the 2016 opening retained earnings was not material . the company currently expects the net gross up to revenue to be approximately $ 1 billion with a corresponding gross up to expense for both 2016 and 2017 . consequently , the company expects its gaap operating margin to decline upon adoption due to the gross up of revenue . however , no material impact is expected on the company 2019s as adjusted operating margin . for accounting pronouncements that the company adopted during the year ended december 31 , 2017 and for additional recent accounting pronouncements not yet adopted , see note 2 , significant accounting policies , in the consolidated financial statements contained in part ii , item 8 of this filing . item 7a . quantitative and qualitative disclosures about market risk aum market price risk . blackrock 2019s investment advisory and administration fees are primarily comprised of fees based on a percentage of the value of aum and , in some cases , performance fees expressed as a percentage of the returns realized on aum . at december 31 , 2017 , the majority of the company 2019s investment advisory and administration fees were based on average or period end aum of the applicable investment funds or separate accounts . movements in equity market prices , interest rates/credit spreads , foreign exchange rates or all three could cause the value of aum to decline , which would result in lower investment advisory and administration fees . corporate investments portfolio risks . as a leading investment management firm , blackrock devotes significant resources across all of its operations to identifying , measuring , monitoring , managing and analyzing market and operating risks , including the management and oversight of its own investment portfolio . the board of directors of the company has adopted guidelines for the review of investments to be made by the company , requiring , among other things , that investments be reviewed by certain senior officers of the company , and that certain investments may be referred to the audit committee or the board of directors , depending on the circumstances , for approval . in the normal course of its business , blackrock is exposed to equity market price risk , interest rate/credit spread risk and foreign exchange rate risk associated with its corporate investments . blackrock has investments primarily in sponsored investment products that invest in a variety of asset classes , including real assets , private equity and hedge funds . investments generally are made for co-investment purposes , to establish a performance track record , to hedge exposure to certain deferred compensation plans or for regulatory purposes . currently , the company has a seed capital hedging program in which it enters into swaps to hedge market and interest rate exposure to certain investments . at december 31 , 2017 , the company had outstanding total return swaps with an aggregate notional value of approximately $ 587 million . at december 31 , 2017 , there were no outstanding interest rate swaps. . Conversations: q0: what is the revenue related technology and risk management in 2016? 595.0 Question: what was the revenues in 2015? Answer:

528.0

convfinqa1168

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: when the likelihood of clawback is considered mathematically improbable . the company records a deferred carried interest liability to the extent it receives cash or capital allocations related to carried interest prior to meeting the revenue recognition criteria . at december 31 , 2017 and 2016 , the company had $ 219 million and $ 152 million , respectively , of deferred carried interest recorded in other liabilities/other liabilities of consolidated vies on the consolidated statements of financial condition . a portion of the deferred carried interest liability will be paid to certain employees . the ultimate timing of the recognition of performance fee revenue , if any , for these products is unknown . the following table presents changes in the deferred carried interest liability ( including the portion related to consolidated vies ) for 2017 and 2016: . <table class='wikitable'><tr><td>1</td><td>( in millions )</td><td>2017</td><td>2016</td></tr><tr><td>2</td><td>beginning balance</td><td>$ 152</td><td>$ 143</td></tr><tr><td>3</td><td>net increase ( decrease ) in unrealized allocations</td><td>75</td><td>37</td></tr><tr><td>4</td><td>performance fee revenue recognized</td><td>-21 ( 21 )</td><td>-28 ( 28 )</td></tr><tr><td>5</td><td>acquisition</td><td>13</td><td>2014</td></tr><tr><td>6</td><td>ending balance</td><td>$ 219</td><td>$ 152</td></tr></table> for 2017 , 2016 and 2015 , performance fee revenue ( which included recognized carried interest ) totaled $ 594 million , $ 295 million and $ 621 million , respectively . fees earned for technology and risk management revenue are recorded as services are performed and are generally determined using the value of positions on the aladdin platform or on a fixed-rate basis . for 2017 , 2016 and 2016 , technology and risk management revenue totaled $ 677 million , $ 595 million and $ 528 million , respectively . adjustments to revenue arising from initial estimates recorded historically have been immaterial since the majority of blackrock 2019s investment advisory and administration revenue is calculated based on aum and since the company does not record performance fee revenue until performance thresholds have been exceeded and the likelihood of clawback is mathematically improbable . accounting developments recent accounting pronouncements not yet adopted . revenue from contracts with customers . in may 2014 , the financial accounting standards board ( 201cfasb 201d ) issued accounting standards update ( 201casu 201d ) 2014-09 , revenue from contracts with customers ( 201casu 2014-09 201d ) . asu 2014-09 outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance , including industry-specific guidance . the guidance also changes the accounting for certain contract costs and revises the criteria for determining if an entity is acting as a principal or agent in certain arrangements . the key changes in the standard that impact the company 2019s revenue recognition relate to the presentation of certain revenue contracts and associated contract costs . the most significant of these changes relates to the presentation of certain distribution costs , which are currently presented net against revenues ( contra-revenue ) and will be presented as an expense on a gross basis . the company adopted asu 2014-09 effective january 1 , 2018 on a full retrospective basis , which will require 2016 and 2017 to be restated in future filings . the cumulative effect adjustment to the 2016 opening retained earnings was not material . the company currently expects the net gross up to revenue to be approximately $ 1 billion with a corresponding gross up to expense for both 2016 and 2017 . consequently , the company expects its gaap operating margin to decline upon adoption due to the gross up of revenue . however , no material impact is expected on the company 2019s as adjusted operating margin . for accounting pronouncements that the company adopted during the year ended december 31 , 2017 and for additional recent accounting pronouncements not yet adopted , see note 2 , significant accounting policies , in the consolidated financial statements contained in part ii , item 8 of this filing . item 7a . quantitative and qualitative disclosures about market risk aum market price risk . blackrock 2019s investment advisory and administration fees are primarily comprised of fees based on a percentage of the value of aum and , in some cases , performance fees expressed as a percentage of the returns realized on aum . at december 31 , 2017 , the majority of the company 2019s investment advisory and administration fees were based on average or period end aum of the applicable investment funds or separate accounts . movements in equity market prices , interest rates/credit spreads , foreign exchange rates or all three could cause the value of aum to decline , which would result in lower investment advisory and administration fees . corporate investments portfolio risks . as a leading investment management firm , blackrock devotes significant resources across all of its operations to identifying , measuring , monitoring , managing and analyzing market and operating risks , including the management and oversight of its own investment portfolio . the board of directors of the company has adopted guidelines for the review of investments to be made by the company , requiring , among other things , that investments be reviewed by certain senior officers of the company , and that certain investments may be referred to the audit committee or the board of directors , depending on the circumstances , for approval . in the normal course of its business , blackrock is exposed to equity market price risk , interest rate/credit spread risk and foreign exchange rate risk associated with its corporate investments . blackrock has investments primarily in sponsored investment products that invest in a variety of asset classes , including real assets , private equity and hedge funds . investments generally are made for co-investment purposes , to establish a performance track record , to hedge exposure to certain deferred compensation plans or for regulatory purposes . currently , the company has a seed capital hedging program in which it enters into swaps to hedge market and interest rate exposure to certain investments . at december 31 , 2017 , the company had outstanding total return swaps with an aggregate notional value of approximately $ 587 million . at december 31 , 2017 , there were no outstanding interest rate swaps. . Conversations: q0: what is the revenue related technology and risk management in 2016? 595.0 q1: what was the revenues in 2015? 528.0 Question: what is the net change? Answer:

67.0

convfinqa1169

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: when the likelihood of clawback is considered mathematically improbable . the company records a deferred carried interest liability to the extent it receives cash or capital allocations related to carried interest prior to meeting the revenue recognition criteria . at december 31 , 2017 and 2016 , the company had $ 219 million and $ 152 million , respectively , of deferred carried interest recorded in other liabilities/other liabilities of consolidated vies on the consolidated statements of financial condition . a portion of the deferred carried interest liability will be paid to certain employees . the ultimate timing of the recognition of performance fee revenue , if any , for these products is unknown . the following table presents changes in the deferred carried interest liability ( including the portion related to consolidated vies ) for 2017 and 2016: . <table class='wikitable'><tr><td>1</td><td>( in millions )</td><td>2017</td><td>2016</td></tr><tr><td>2</td><td>beginning balance</td><td>$ 152</td><td>$ 143</td></tr><tr><td>3</td><td>net increase ( decrease ) in unrealized allocations</td><td>75</td><td>37</td></tr><tr><td>4</td><td>performance fee revenue recognized</td><td>-21 ( 21 )</td><td>-28 ( 28 )</td></tr><tr><td>5</td><td>acquisition</td><td>13</td><td>2014</td></tr><tr><td>6</td><td>ending balance</td><td>$ 219</td><td>$ 152</td></tr></table> for 2017 , 2016 and 2015 , performance fee revenue ( which included recognized carried interest ) totaled $ 594 million , $ 295 million and $ 621 million , respectively . fees earned for technology and risk management revenue are recorded as services are performed and are generally determined using the value of positions on the aladdin platform or on a fixed-rate basis . for 2017 , 2016 and 2016 , technology and risk management revenue totaled $ 677 million , $ 595 million and $ 528 million , respectively . adjustments to revenue arising from initial estimates recorded historically have been immaterial since the majority of blackrock 2019s investment advisory and administration revenue is calculated based on aum and since the company does not record performance fee revenue until performance thresholds have been exceeded and the likelihood of clawback is mathematically improbable . accounting developments recent accounting pronouncements not yet adopted . revenue from contracts with customers . in may 2014 , the financial accounting standards board ( 201cfasb 201d ) issued accounting standards update ( 201casu 201d ) 2014-09 , revenue from contracts with customers ( 201casu 2014-09 201d ) . asu 2014-09 outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance , including industry-specific guidance . the guidance also changes the accounting for certain contract costs and revises the criteria for determining if an entity is acting as a principal or agent in certain arrangements . the key changes in the standard that impact the company 2019s revenue recognition relate to the presentation of certain revenue contracts and associated contract costs . the most significant of these changes relates to the presentation of certain distribution costs , which are currently presented net against revenues ( contra-revenue ) and will be presented as an expense on a gross basis . the company adopted asu 2014-09 effective january 1 , 2018 on a full retrospective basis , which will require 2016 and 2017 to be restated in future filings . the cumulative effect adjustment to the 2016 opening retained earnings was not material . the company currently expects the net gross up to revenue to be approximately $ 1 billion with a corresponding gross up to expense for both 2016 and 2017 . consequently , the company expects its gaap operating margin to decline upon adoption due to the gross up of revenue . however , no material impact is expected on the company 2019s as adjusted operating margin . for accounting pronouncements that the company adopted during the year ended december 31 , 2017 and for additional recent accounting pronouncements not yet adopted , see note 2 , significant accounting policies , in the consolidated financial statements contained in part ii , item 8 of this filing . item 7a . quantitative and qualitative disclosures about market risk aum market price risk . blackrock 2019s investment advisory and administration fees are primarily comprised of fees based on a percentage of the value of aum and , in some cases , performance fees expressed as a percentage of the returns realized on aum . at december 31 , 2017 , the majority of the company 2019s investment advisory and administration fees were based on average or period end aum of the applicable investment funds or separate accounts . movements in equity market prices , interest rates/credit spreads , foreign exchange rates or all three could cause the value of aum to decline , which would result in lower investment advisory and administration fees . corporate investments portfolio risks . as a leading investment management firm , blackrock devotes significant resources across all of its operations to identifying , measuring , monitoring , managing and analyzing market and operating risks , including the management and oversight of its own investment portfolio . the board of directors of the company has adopted guidelines for the review of investments to be made by the company , requiring , among other things , that investments be reviewed by certain senior officers of the company , and that certain investments may be referred to the audit committee or the board of directors , depending on the circumstances , for approval . in the normal course of its business , blackrock is exposed to equity market price risk , interest rate/credit spread risk and foreign exchange rate risk associated with its corporate investments . blackrock has investments primarily in sponsored investment products that invest in a variety of asset classes , including real assets , private equity and hedge funds . investments generally are made for co-investment purposes , to establish a performance track record , to hedge exposure to certain deferred compensation plans or for regulatory purposes . currently , the company has a seed capital hedging program in which it enters into swaps to hedge market and interest rate exposure to certain investments . at december 31 , 2017 , the company had outstanding total return swaps with an aggregate notional value of approximately $ 587 million . at december 31 , 2017 , there were no outstanding interest rate swaps. . Conversations: q0: what is the revenue related technology and risk management in 2016? 595.0 q1: what was the revenues in 2015? 528.0 q2: what is the net change? 67.0 Question: what is that change over the 2015 value? Answer:

0.12689

convfinqa1170

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: international networks international networks generated revenues of $ 3.0 billion and adjusted oibda of $ 848 million during 2016 , which represented 47% ( 47 % ) and 35% ( 35 % ) of our total consolidated revenues and adjusted oibda , respectively . our international networks segment principally consists of national and pan-regional television networks and brands that are delivered across multiple distribution platforms . this segment generates revenue from operations in virtually every pay-tv market in the world through an infrastructure that includes operational centers in london , warsaw , milan , singapore and miami . global brands include discovery channel , animal planet , tlc , id , science channel and turbo ( known as velocity in the u.s. ) , along with brands exclusive to international networks , including eurosport , real time , dmax and discovery kids . as of december 31 , 2016 , international networks operated over 400 unique distribution feeds in over 40 languages with channel feeds customized according to language needs and advertising sales opportunities . international networks also has fta and broadcast networks in europe and the middle east and broadcast networks in germany , norway and sweden , and continues to pursue further international expansion . fta networks generate a significant portion of international networks' revenue . the penetration and growth rates of television services vary across countries and territories depending on numerous factors including the dominance of different television platforms in local markets . while pay-tv services have greater penetration in certain markets , fta or broadcast television is dominant in others . international networks has a large international distribution platform for its 37 networks , with as many as 13 networks distributed in any particular country or territory across the more than 220 countries and territories around the world . international networks pursues distribution across all television platforms based on the specific dynamics of local markets and relevant commercial agreements . in addition to the global networks described in the overview section above , we operate networks internationally that utilize the following brands : 2022 eurosport is the leading sports entertainment provider across europe with the following tv brands : eurosport , eurosport 2 and eurosportnews , reaching viewers across europe and asia , as well as eurosport digital , which includes eurosport player and eurosport.com . 2022 viewing subscribers reached by each brand as of december 31 , 2016 were as follows : eurosport : 133 million ; eurosport 2 : 65 million ; and eurosportnews : 9 million . 2022 eurosport telecasts live sporting events with both local and pan-regional appeal and its events focus on winter sports , cycling and tennis , including the tour de france and it is the home of grand slam tennis with all four tournaments . important local sports rights include bundesliga and motogp . in addition , eurosport has increasingly invested in more exclusive and localized rights to drive local audience and commercial relevance . 2022 we have acquired the exclusive broadcast rights across all media platforms throughout europe for the four olympic games between 2018 and 2024 for 20ac1.3 billion ( $ 1.5 billion as of december 31 , 2016 ) . the broadcast rights exclude france for the olympic games in 2018 and 2020 , and exclude russia . in addition to fta broadcasts for the olympic games , many of these events are set to air on eurosport's pay-tv and digital platforms . 2022 on november 2 , 2016 , we announced a long-term agreement and joint venture partnership with bamtech ( "mlbam" ) a technology services and video streaming company , and subsidiary of major league baseball's digital business , that includes the formation of bamtech europe , a joint venture that will provide digital technology services to a broad set of both sports and entertainment clients across europe . 2022 as of december 31 , 2016 , dmax reached approximately 103 million viewers through fta networks , according to internal estimates . 2022 dmax is a men 2019s factual entertainment channel in asia and europe . 2022 discovery kids reached approximately 121 million viewers , according to internal estimates , as of december 31 , 2016 . 2022 discovery kids is a leading children's network in latin america and asia . our international networks segment also owns and operates the following regional television networks , which reached the following number of subscribers and viewers via pay and fta or broadcast networks , respectively , as of december 31 , 2016 : television service international subscribers/viewers ( millions ) . <table class='wikitable'><tr><td>1</td><td></td><td>television service</td><td>internationalsubscribers/viewers ( millions )</td></tr><tr><td>2</td><td>quest</td><td>fta</td><td>77</td></tr><tr><td>3</td><td>nordic broadcast networks ( a )</td><td>broadcast</td><td>35</td></tr><tr><td>4</td><td>giallo</td><td>fta</td><td>25</td></tr><tr><td>5</td><td>frisbee</td><td>fta</td><td>25</td></tr><tr><td>6</td><td>focus</td><td>fta</td><td>25</td></tr><tr><td>7</td><td>k2</td><td>fta</td><td>25</td></tr><tr><td>8</td><td>deejay tv</td><td>fta</td><td>25</td></tr><tr><td>9</td><td>discovery hd world</td><td>pay</td><td>24</td></tr><tr><td>10</td><td>shed</td><td>pay</td><td>12</td></tr><tr><td>11</td><td>discovery history</td><td>pay</td><td>10</td></tr><tr><td>12</td><td>discovery world</td><td>pay</td><td>6</td></tr><tr><td>13</td><td>discovery en espanol ( u.s. )</td><td>pay</td><td>6</td></tr><tr><td>14</td><td>discovery familia ( u.s. )</td><td>pay</td><td>6</td></tr></table> ( a ) number of subscribers corresponds to the sum of the subscribers to each of the nordic broadcast networks in sweden , norway , finland and denmark subject to retransmission agreements with pay-tv providers . the nordic broadcast networks include kanal 5 , kanal 9 , and kanal 11 in sweden , tv norge , max , fem and vox in norway , tv 5 , kutonen , and frii in finland , and kanal 4 , kanal 5 , 6'eren , and canal 9 in denmark . similar to u.s . networks , a significant source of revenue for international networks relates to fees charged to operators who distribute our linear networks . such operators primarily include cable and dth satellite service providers . international television markets vary in their stages of development . some markets , such as the u.k. , are more advanced digital television markets , while others remain in the analog environment with varying degrees of investment from operators to expand channel capacity or convert to digital technologies . common practice in some markets results in long-term contractual distribution relationships , while customers in other markets renew contracts annually . distribution revenue for our international networks segment is largely dependent on the number of subscribers that receive our networks or content , the rates negotiated in the distributor agreements , and the market demand for the content that we provide . the other significant source of revenue for international networks relates to advertising sold on our television networks and across distribution platforms , similar to u.s . networks . advertising revenue is dependent upon a number of factors , including the development of pay and fta television markets , the number of subscribers to and viewers of our channels , viewership demographics , the popularity of our programming , and our ability to sell commercial time over a portfolio of channels on multiple platforms . in certain markets , our advertising sales business operates with in-house sales teams , while we rely on external sales representation services in other markets . in developing television markets , advertising revenue growth results from continued subscriber growth , our localization strategy , and the shift of advertising spending from traditional broadcast networks to channels . Conversations: Question: combined, what was the total number of subscribers for eurosport and eurosport 2? Answer:

198.0

convfinqa1171

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: international networks international networks generated revenues of $ 3.0 billion and adjusted oibda of $ 848 million during 2016 , which represented 47% ( 47 % ) and 35% ( 35 % ) of our total consolidated revenues and adjusted oibda , respectively . our international networks segment principally consists of national and pan-regional television networks and brands that are delivered across multiple distribution platforms . this segment generates revenue from operations in virtually every pay-tv market in the world through an infrastructure that includes operational centers in london , warsaw , milan , singapore and miami . global brands include discovery channel , animal planet , tlc , id , science channel and turbo ( known as velocity in the u.s. ) , along with brands exclusive to international networks , including eurosport , real time , dmax and discovery kids . as of december 31 , 2016 , international networks operated over 400 unique distribution feeds in over 40 languages with channel feeds customized according to language needs and advertising sales opportunities . international networks also has fta and broadcast networks in europe and the middle east and broadcast networks in germany , norway and sweden , and continues to pursue further international expansion . fta networks generate a significant portion of international networks' revenue . the penetration and growth rates of television services vary across countries and territories depending on numerous factors including the dominance of different television platforms in local markets . while pay-tv services have greater penetration in certain markets , fta or broadcast television is dominant in others . international networks has a large international distribution platform for its 37 networks , with as many as 13 networks distributed in any particular country or territory across the more than 220 countries and territories around the world . international networks pursues distribution across all television platforms based on the specific dynamics of local markets and relevant commercial agreements . in addition to the global networks described in the overview section above , we operate networks internationally that utilize the following brands : 2022 eurosport is the leading sports entertainment provider across europe with the following tv brands : eurosport , eurosport 2 and eurosportnews , reaching viewers across europe and asia , as well as eurosport digital , which includes eurosport player and eurosport.com . 2022 viewing subscribers reached by each brand as of december 31 , 2016 were as follows : eurosport : 133 million ; eurosport 2 : 65 million ; and eurosportnews : 9 million . 2022 eurosport telecasts live sporting events with both local and pan-regional appeal and its events focus on winter sports , cycling and tennis , including the tour de france and it is the home of grand slam tennis with all four tournaments . important local sports rights include bundesliga and motogp . in addition , eurosport has increasingly invested in more exclusive and localized rights to drive local audience and commercial relevance . 2022 we have acquired the exclusive broadcast rights across all media platforms throughout europe for the four olympic games between 2018 and 2024 for 20ac1.3 billion ( $ 1.5 billion as of december 31 , 2016 ) . the broadcast rights exclude france for the olympic games in 2018 and 2020 , and exclude russia . in addition to fta broadcasts for the olympic games , many of these events are set to air on eurosport's pay-tv and digital platforms . 2022 on november 2 , 2016 , we announced a long-term agreement and joint venture partnership with bamtech ( "mlbam" ) a technology services and video streaming company , and subsidiary of major league baseball's digital business , that includes the formation of bamtech europe , a joint venture that will provide digital technology services to a broad set of both sports and entertainment clients across europe . 2022 as of december 31 , 2016 , dmax reached approximately 103 million viewers through fta networks , according to internal estimates . 2022 dmax is a men 2019s factual entertainment channel in asia and europe . 2022 discovery kids reached approximately 121 million viewers , according to internal estimates , as of december 31 , 2016 . 2022 discovery kids is a leading children's network in latin america and asia . our international networks segment also owns and operates the following regional television networks , which reached the following number of subscribers and viewers via pay and fta or broadcast networks , respectively , as of december 31 , 2016 : television service international subscribers/viewers ( millions ) . <table class='wikitable'><tr><td>1</td><td></td><td>television service</td><td>internationalsubscribers/viewers ( millions )</td></tr><tr><td>2</td><td>quest</td><td>fta</td><td>77</td></tr><tr><td>3</td><td>nordic broadcast networks ( a )</td><td>broadcast</td><td>35</td></tr><tr><td>4</td><td>giallo</td><td>fta</td><td>25</td></tr><tr><td>5</td><td>frisbee</td><td>fta</td><td>25</td></tr><tr><td>6</td><td>focus</td><td>fta</td><td>25</td></tr><tr><td>7</td><td>k2</td><td>fta</td><td>25</td></tr><tr><td>8</td><td>deejay tv</td><td>fta</td><td>25</td></tr><tr><td>9</td><td>discovery hd world</td><td>pay</td><td>24</td></tr><tr><td>10</td><td>shed</td><td>pay</td><td>12</td></tr><tr><td>11</td><td>discovery history</td><td>pay</td><td>10</td></tr><tr><td>12</td><td>discovery world</td><td>pay</td><td>6</td></tr><tr><td>13</td><td>discovery en espanol ( u.s. )</td><td>pay</td><td>6</td></tr><tr><td>14</td><td>discovery familia ( u.s. )</td><td>pay</td><td>6</td></tr></table> ( a ) number of subscribers corresponds to the sum of the subscribers to each of the nordic broadcast networks in sweden , norway , finland and denmark subject to retransmission agreements with pay-tv providers . the nordic broadcast networks include kanal 5 , kanal 9 , and kanal 11 in sweden , tv norge , max , fem and vox in norway , tv 5 , kutonen , and frii in finland , and kanal 4 , kanal 5 , 6'eren , and canal 9 in denmark . similar to u.s . networks , a significant source of revenue for international networks relates to fees charged to operators who distribute our linear networks . such operators primarily include cable and dth satellite service providers . international television markets vary in their stages of development . some markets , such as the u.k. , are more advanced digital television markets , while others remain in the analog environment with varying degrees of investment from operators to expand channel capacity or convert to digital technologies . common practice in some markets results in long-term contractual distribution relationships , while customers in other markets renew contracts annually . distribution revenue for our international networks segment is largely dependent on the number of subscribers that receive our networks or content , the rates negotiated in the distributor agreements , and the market demand for the content that we provide . the other significant source of revenue for international networks relates to advertising sold on our television networks and across distribution platforms , similar to u.s . networks . advertising revenue is dependent upon a number of factors , including the development of pay and fta television markets , the number of subscribers to and viewers of our channels , viewership demographics , the popularity of our programming , and our ability to sell commercial time over a portfolio of channels on multiple platforms . in certain markets , our advertising sales business operates with in-house sales teams , while we rely on external sales representation services in other markets . in developing television markets , advertising revenue growth results from continued subscriber growth , our localization strategy , and the shift of advertising spending from traditional broadcast networks to channels . Conversations: q0: combined, what was the total number of subscribers for eurosport and eurosport 2? 198.0 Question: and including eurosportnews? Answer:

207.0

convfinqa1172

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: international networks international networks generated revenues of $ 3.0 billion and adjusted oibda of $ 848 million during 2016 , which represented 47% ( 47 % ) and 35% ( 35 % ) of our total consolidated revenues and adjusted oibda , respectively . our international networks segment principally consists of national and pan-regional television networks and brands that are delivered across multiple distribution platforms . this segment generates revenue from operations in virtually every pay-tv market in the world through an infrastructure that includes operational centers in london , warsaw , milan , singapore and miami . global brands include discovery channel , animal planet , tlc , id , science channel and turbo ( known as velocity in the u.s. ) , along with brands exclusive to international networks , including eurosport , real time , dmax and discovery kids . as of december 31 , 2016 , international networks operated over 400 unique distribution feeds in over 40 languages with channel feeds customized according to language needs and advertising sales opportunities . international networks also has fta and broadcast networks in europe and the middle east and broadcast networks in germany , norway and sweden , and continues to pursue further international expansion . fta networks generate a significant portion of international networks' revenue . the penetration and growth rates of television services vary across countries and territories depending on numerous factors including the dominance of different television platforms in local markets . while pay-tv services have greater penetration in certain markets , fta or broadcast television is dominant in others . international networks has a large international distribution platform for its 37 networks , with as many as 13 networks distributed in any particular country or territory across the more than 220 countries and territories around the world . international networks pursues distribution across all television platforms based on the specific dynamics of local markets and relevant commercial agreements . in addition to the global networks described in the overview section above , we operate networks internationally that utilize the following brands : 2022 eurosport is the leading sports entertainment provider across europe with the following tv brands : eurosport , eurosport 2 and eurosportnews , reaching viewers across europe and asia , as well as eurosport digital , which includes eurosport player and eurosport.com . 2022 viewing subscribers reached by each brand as of december 31 , 2016 were as follows : eurosport : 133 million ; eurosport 2 : 65 million ; and eurosportnews : 9 million . 2022 eurosport telecasts live sporting events with both local and pan-regional appeal and its events focus on winter sports , cycling and tennis , including the tour de france and it is the home of grand slam tennis with all four tournaments . important local sports rights include bundesliga and motogp . in addition , eurosport has increasingly invested in more exclusive and localized rights to drive local audience and commercial relevance . 2022 we have acquired the exclusive broadcast rights across all media platforms throughout europe for the four olympic games between 2018 and 2024 for 20ac1.3 billion ( $ 1.5 billion as of december 31 , 2016 ) . the broadcast rights exclude france for the olympic games in 2018 and 2020 , and exclude russia . in addition to fta broadcasts for the olympic games , many of these events are set to air on eurosport's pay-tv and digital platforms . 2022 on november 2 , 2016 , we announced a long-term agreement and joint venture partnership with bamtech ( "mlbam" ) a technology services and video streaming company , and subsidiary of major league baseball's digital business , that includes the formation of bamtech europe , a joint venture that will provide digital technology services to a broad set of both sports and entertainment clients across europe . 2022 as of december 31 , 2016 , dmax reached approximately 103 million viewers through fta networks , according to internal estimates . 2022 dmax is a men 2019s factual entertainment channel in asia and europe . 2022 discovery kids reached approximately 121 million viewers , according to internal estimates , as of december 31 , 2016 . 2022 discovery kids is a leading children's network in latin america and asia . our international networks segment also owns and operates the following regional television networks , which reached the following number of subscribers and viewers via pay and fta or broadcast networks , respectively , as of december 31 , 2016 : television service international subscribers/viewers ( millions ) . <table class='wikitable'><tr><td>1</td><td></td><td>television service</td><td>internationalsubscribers/viewers ( millions )</td></tr><tr><td>2</td><td>quest</td><td>fta</td><td>77</td></tr><tr><td>3</td><td>nordic broadcast networks ( a )</td><td>broadcast</td><td>35</td></tr><tr><td>4</td><td>giallo</td><td>fta</td><td>25</td></tr><tr><td>5</td><td>frisbee</td><td>fta</td><td>25</td></tr><tr><td>6</td><td>focus</td><td>fta</td><td>25</td></tr><tr><td>7</td><td>k2</td><td>fta</td><td>25</td></tr><tr><td>8</td><td>deejay tv</td><td>fta</td><td>25</td></tr><tr><td>9</td><td>discovery hd world</td><td>pay</td><td>24</td></tr><tr><td>10</td><td>shed</td><td>pay</td><td>12</td></tr><tr><td>11</td><td>discovery history</td><td>pay</td><td>10</td></tr><tr><td>12</td><td>discovery world</td><td>pay</td><td>6</td></tr><tr><td>13</td><td>discovery en espanol ( u.s. )</td><td>pay</td><td>6</td></tr><tr><td>14</td><td>discovery familia ( u.s. )</td><td>pay</td><td>6</td></tr></table> ( a ) number of subscribers corresponds to the sum of the subscribers to each of the nordic broadcast networks in sweden , norway , finland and denmark subject to retransmission agreements with pay-tv providers . the nordic broadcast networks include kanal 5 , kanal 9 , and kanal 11 in sweden , tv norge , max , fem and vox in norway , tv 5 , kutonen , and frii in finland , and kanal 4 , kanal 5 , 6'eren , and canal 9 in denmark . similar to u.s . networks , a significant source of revenue for international networks relates to fees charged to operators who distribute our linear networks . such operators primarily include cable and dth satellite service providers . international television markets vary in their stages of development . some markets , such as the u.k. , are more advanced digital television markets , while others remain in the analog environment with varying degrees of investment from operators to expand channel capacity or convert to digital technologies . common practice in some markets results in long-term contractual distribution relationships , while customers in other markets renew contracts annually . distribution revenue for our international networks segment is largely dependent on the number of subscribers that receive our networks or content , the rates negotiated in the distributor agreements , and the market demand for the content that we provide . the other significant source of revenue for international networks relates to advertising sold on our television networks and across distribution platforms , similar to u.s . networks . advertising revenue is dependent upon a number of factors , including the development of pay and fta television markets , the number of subscribers to and viewers of our channels , viewership demographics , the popularity of our programming , and our ability to sell commercial time over a portfolio of channels on multiple platforms . in certain markets , our advertising sales business operates with in-house sales teams , while we rely on external sales representation services in other markets . in developing television markets , advertising revenue growth results from continued subscriber growth , our localization strategy , and the shift of advertising spending from traditional broadcast networks to channels . Conversations: q0: combined, what was the total number of subscribers for eurosport and eurosport 2? 198.0 q1: and including eurosportnews? 207.0 Question: so what percentage of subscribers were for eurosport? Answer:

0.64251

convfinqa1173

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: amount of commitment expiration per period other commercial commitments after millions total 2013 2014 2015 2016 2017 2017 . <table class='wikitable'><tr><td>1</td><td>other commercial commitmentsmillions</td><td>total</td><td>amount of commitment expiration per period 2013</td><td>amount of commitment expiration per period 2014</td><td>amount of commitment expiration per period 2015</td><td>amount of commitment expiration per period 2016</td><td>amount of commitment expiration per period 2017</td><td>amount of commitment expiration per period after 2017</td></tr><tr><td>2</td><td>credit facilities [a]</td><td>$ 1800</td><td>$ -</td><td>$ -</td><td>$ 1800</td><td>$ -</td><td>$ -</td><td>$ -</td></tr><tr><td>3</td><td>receivables securitization facility [b]</td><td>600</td><td>600</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>4</td><td>guarantees [c]</td><td>307</td><td>8</td><td>214</td><td>12</td><td>30</td><td>10</td><td>33</td></tr><tr><td>5</td><td>standby letters of credit [d]</td><td>25</td><td>24</td><td>1</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>6</td><td>total commercialcommitments</td><td>$ 2732</td><td>$ 632</td><td>$ 215</td><td>$ 1812</td><td>$ 30</td><td>$ 10</td><td>$ 33</td></tr></table> [a] none of the credit facility was used as of december 31 , 2012 . [b] $ 100 million of the receivables securitization facility was utilized at december 31 , 2012 , which is accounted for as debt . the full program matures in july 2013 . [c] includes guaranteed obligations related to our headquarters building , equipment financings , and affiliated operations . [d] none of the letters of credit were drawn upon as of december 31 , 2012 . off-balance sheet arrangements guarantees 2013 at december 31 , 2012 , we were contingently liable for $ 307 million in guarantees . we have recorded a liability of $ 2 million for the fair value of these obligations as of december 31 , 2012 and 2011 . we entered into these contingent guarantees in the normal course of business , and they include guaranteed obligations related to our headquarters building , equipment financings , and affiliated operations . the final guarantee expires in 2022 . we are not aware of any existing event of default that would require us to satisfy these guarantees . we do not expect that these guarantees will have a material adverse effect on our consolidated financial condition , results of operations , or liquidity . other matters labor agreements 2013 approximately 86% ( 86 % ) of our 45928 full-time-equivalent employees are represented by 14 major rail unions . during the year , we concluded the most recent round of negotiations , which began in 2010 , with the ratification of new agreements by several unions that continued negotiating into 2012 . all of the unions executed similar multi-year agreements that provide for higher employee cost sharing of employee health and welfare benefits and higher wages . the current agreements will remain in effect until renegotiated under provisions of the railway labor act . the next round of negotiations will begin in early 2015 . inflation 2013 long periods of inflation significantly increase asset replacement costs for capital-intensive companies . as a result , assuming that we replace all operating assets at current price levels , depreciation charges ( on an inflation-adjusted basis ) would be substantially greater than historically reported amounts . derivative financial instruments 2013 we may use derivative financial instruments in limited instances to assist in managing our overall exposure to fluctuations in interest rates and fuel prices . we are not a party to leveraged derivatives and , by policy , do not use derivative financial instruments for speculative purposes . derivative financial instruments qualifying for hedge accounting must maintain a specified level of effectiveness between the hedging instrument and the item being hedged , both at inception and throughout the hedged period . we formally document the nature and relationships between the hedging instruments and hedged items at inception , as well as our risk-management objectives , strategies for undertaking the various hedge transactions , and method of assessing hedge effectiveness . changes in the fair market value of derivative financial instruments that do not qualify for hedge accounting are charged to earnings . we may use swaps , collars , futures , and/or forward contracts to mitigate the risk of adverse movements in interest rates and fuel prices ; however , the use of these derivative financial instruments may limit future benefits from favorable price movements . market and credit risk 2013 we address market risk related to derivative financial instruments by selecting instruments with value fluctuations that highly correlate with the underlying hedged item . we manage credit risk related to derivative financial instruments , which is minimal , by requiring high credit standards for counterparties and periodic settlements . at december 31 , 2012 and 2011 , we were not required to provide collateral , nor had we received collateral , relating to our hedging activities. . Conversations: Question: what is the value of total commercial commitments? Answer:

2732.0

convfinqa1174

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: amount of commitment expiration per period other commercial commitments after millions total 2013 2014 2015 2016 2017 2017 . <table class='wikitable'><tr><td>1</td><td>other commercial commitmentsmillions</td><td>total</td><td>amount of commitment expiration per period 2013</td><td>amount of commitment expiration per period 2014</td><td>amount of commitment expiration per period 2015</td><td>amount of commitment expiration per period 2016</td><td>amount of commitment expiration per period 2017</td><td>amount of commitment expiration per period after 2017</td></tr><tr><td>2</td><td>credit facilities [a]</td><td>$ 1800</td><td>$ -</td><td>$ -</td><td>$ 1800</td><td>$ -</td><td>$ -</td><td>$ -</td></tr><tr><td>3</td><td>receivables securitization facility [b]</td><td>600</td><td>600</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>4</td><td>guarantees [c]</td><td>307</td><td>8</td><td>214</td><td>12</td><td>30</td><td>10</td><td>33</td></tr><tr><td>5</td><td>standby letters of credit [d]</td><td>25</td><td>24</td><td>1</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>6</td><td>total commercialcommitments</td><td>$ 2732</td><td>$ 632</td><td>$ 215</td><td>$ 1812</td><td>$ 30</td><td>$ 10</td><td>$ 33</td></tr></table> [a] none of the credit facility was used as of december 31 , 2012 . [b] $ 100 million of the receivables securitization facility was utilized at december 31 , 2012 , which is accounted for as debt . the full program matures in july 2013 . [c] includes guaranteed obligations related to our headquarters building , equipment financings , and affiliated operations . [d] none of the letters of credit were drawn upon as of december 31 , 2012 . off-balance sheet arrangements guarantees 2013 at december 31 , 2012 , we were contingently liable for $ 307 million in guarantees . we have recorded a liability of $ 2 million for the fair value of these obligations as of december 31 , 2012 and 2011 . we entered into these contingent guarantees in the normal course of business , and they include guaranteed obligations related to our headquarters building , equipment financings , and affiliated operations . the final guarantee expires in 2022 . we are not aware of any existing event of default that would require us to satisfy these guarantees . we do not expect that these guarantees will have a material adverse effect on our consolidated financial condition , results of operations , or liquidity . other matters labor agreements 2013 approximately 86% ( 86 % ) of our 45928 full-time-equivalent employees are represented by 14 major rail unions . during the year , we concluded the most recent round of negotiations , which began in 2010 , with the ratification of new agreements by several unions that continued negotiating into 2012 . all of the unions executed similar multi-year agreements that provide for higher employee cost sharing of employee health and welfare benefits and higher wages . the current agreements will remain in effect until renegotiated under provisions of the railway labor act . the next round of negotiations will begin in early 2015 . inflation 2013 long periods of inflation significantly increase asset replacement costs for capital-intensive companies . as a result , assuming that we replace all operating assets at current price levels , depreciation charges ( on an inflation-adjusted basis ) would be substantially greater than historically reported amounts . derivative financial instruments 2013 we may use derivative financial instruments in limited instances to assist in managing our overall exposure to fluctuations in interest rates and fuel prices . we are not a party to leveraged derivatives and , by policy , do not use derivative financial instruments for speculative purposes . derivative financial instruments qualifying for hedge accounting must maintain a specified level of effectiveness between the hedging instrument and the item being hedged , both at inception and throughout the hedged period . we formally document the nature and relationships between the hedging instruments and hedged items at inception , as well as our risk-management objectives , strategies for undertaking the various hedge transactions , and method of assessing hedge effectiveness . changes in the fair market value of derivative financial instruments that do not qualify for hedge accounting are charged to earnings . we may use swaps , collars , futures , and/or forward contracts to mitigate the risk of adverse movements in interest rates and fuel prices ; however , the use of these derivative financial instruments may limit future benefits from favorable price movements . market and credit risk 2013 we address market risk related to derivative financial instruments by selecting instruments with value fluctuations that highly correlate with the underlying hedged item . we manage credit risk related to derivative financial instruments , which is minimal , by requiring high credit standards for counterparties and periodic settlements . at december 31 , 2012 and 2011 , we were not required to provide collateral , nor had we received collateral , relating to our hedging activities. . Conversations: q0: what is the value of total commercial commitments? 2732.0 Question: what about the value of utilizes receivables securitization facility during 2012? Answer:

100.0

convfinqa1175

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: amount of commitment expiration per period other commercial commitments after millions total 2013 2014 2015 2016 2017 2017 . <table class='wikitable'><tr><td>1</td><td>other commercial commitmentsmillions</td><td>total</td><td>amount of commitment expiration per period 2013</td><td>amount of commitment expiration per period 2014</td><td>amount of commitment expiration per period 2015</td><td>amount of commitment expiration per period 2016</td><td>amount of commitment expiration per period 2017</td><td>amount of commitment expiration per period after 2017</td></tr><tr><td>2</td><td>credit facilities [a]</td><td>$ 1800</td><td>$ -</td><td>$ -</td><td>$ 1800</td><td>$ -</td><td>$ -</td><td>$ -</td></tr><tr><td>3</td><td>receivables securitization facility [b]</td><td>600</td><td>600</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>4</td><td>guarantees [c]</td><td>307</td><td>8</td><td>214</td><td>12</td><td>30</td><td>10</td><td>33</td></tr><tr><td>5</td><td>standby letters of credit [d]</td><td>25</td><td>24</td><td>1</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>6</td><td>total commercialcommitments</td><td>$ 2732</td><td>$ 632</td><td>$ 215</td><td>$ 1812</td><td>$ 30</td><td>$ 10</td><td>$ 33</td></tr></table> [a] none of the credit facility was used as of december 31 , 2012 . [b] $ 100 million of the receivables securitization facility was utilized at december 31 , 2012 , which is accounted for as debt . the full program matures in july 2013 . [c] includes guaranteed obligations related to our headquarters building , equipment financings , and affiliated operations . [d] none of the letters of credit were drawn upon as of december 31 , 2012 . off-balance sheet arrangements guarantees 2013 at december 31 , 2012 , we were contingently liable for $ 307 million in guarantees . we have recorded a liability of $ 2 million for the fair value of these obligations as of december 31 , 2012 and 2011 . we entered into these contingent guarantees in the normal course of business , and they include guaranteed obligations related to our headquarters building , equipment financings , and affiliated operations . the final guarantee expires in 2022 . we are not aware of any existing event of default that would require us to satisfy these guarantees . we do not expect that these guarantees will have a material adverse effect on our consolidated financial condition , results of operations , or liquidity . other matters labor agreements 2013 approximately 86% ( 86 % ) of our 45928 full-time-equivalent employees are represented by 14 major rail unions . during the year , we concluded the most recent round of negotiations , which began in 2010 , with the ratification of new agreements by several unions that continued negotiating into 2012 . all of the unions executed similar multi-year agreements that provide for higher employee cost sharing of employee health and welfare benefits and higher wages . the current agreements will remain in effect until renegotiated under provisions of the railway labor act . the next round of negotiations will begin in early 2015 . inflation 2013 long periods of inflation significantly increase asset replacement costs for capital-intensive companies . as a result , assuming that we replace all operating assets at current price levels , depreciation charges ( on an inflation-adjusted basis ) would be substantially greater than historically reported amounts . derivative financial instruments 2013 we may use derivative financial instruments in limited instances to assist in managing our overall exposure to fluctuations in interest rates and fuel prices . we are not a party to leveraged derivatives and , by policy , do not use derivative financial instruments for speculative purposes . derivative financial instruments qualifying for hedge accounting must maintain a specified level of effectiveness between the hedging instrument and the item being hedged , both at inception and throughout the hedged period . we formally document the nature and relationships between the hedging instruments and hedged items at inception , as well as our risk-management objectives , strategies for undertaking the various hedge transactions , and method of assessing hedge effectiveness . changes in the fair market value of derivative financial instruments that do not qualify for hedge accounting are charged to earnings . we may use swaps , collars , futures , and/or forward contracts to mitigate the risk of adverse movements in interest rates and fuel prices ; however , the use of these derivative financial instruments may limit future benefits from favorable price movements . market and credit risk 2013 we address market risk related to derivative financial instruments by selecting instruments with value fluctuations that highly correlate with the underlying hedged item . we manage credit risk related to derivative financial instruments , which is minimal , by requiring high credit standards for counterparties and periodic settlements . at december 31 , 2012 and 2011 , we were not required to provide collateral , nor had we received collateral , relating to our hedging activities. . Conversations: q0: what is the value of total commercial commitments? 2732.0 q1: what about the value of utilizes receivables securitization facility during 2012? 100.0 Question: if receivables securitization facility is excluded what would be the total commercial commitments? Answer:

2632.0

convfinqa1176

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: amount of commitment expiration per period other commercial commitments after millions total 2013 2014 2015 2016 2017 2017 . <table class='wikitable'><tr><td>1</td><td>other commercial commitmentsmillions</td><td>total</td><td>amount of commitment expiration per period 2013</td><td>amount of commitment expiration per period 2014</td><td>amount of commitment expiration per period 2015</td><td>amount of commitment expiration per period 2016</td><td>amount of commitment expiration per period 2017</td><td>amount of commitment expiration per period after 2017</td></tr><tr><td>2</td><td>credit facilities [a]</td><td>$ 1800</td><td>$ -</td><td>$ -</td><td>$ 1800</td><td>$ -</td><td>$ -</td><td>$ -</td></tr><tr><td>3</td><td>receivables securitization facility [b]</td><td>600</td><td>600</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>4</td><td>guarantees [c]</td><td>307</td><td>8</td><td>214</td><td>12</td><td>30</td><td>10</td><td>33</td></tr><tr><td>5</td><td>standby letters of credit [d]</td><td>25</td><td>24</td><td>1</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>6</td><td>total commercialcommitments</td><td>$ 2732</td><td>$ 632</td><td>$ 215</td><td>$ 1812</td><td>$ 30</td><td>$ 10</td><td>$ 33</td></tr></table> [a] none of the credit facility was used as of december 31 , 2012 . [b] $ 100 million of the receivables securitization facility was utilized at december 31 , 2012 , which is accounted for as debt . the full program matures in july 2013 . [c] includes guaranteed obligations related to our headquarters building , equipment financings , and affiliated operations . [d] none of the letters of credit were drawn upon as of december 31 , 2012 . off-balance sheet arrangements guarantees 2013 at december 31 , 2012 , we were contingently liable for $ 307 million in guarantees . we have recorded a liability of $ 2 million for the fair value of these obligations as of december 31 , 2012 and 2011 . we entered into these contingent guarantees in the normal course of business , and they include guaranteed obligations related to our headquarters building , equipment financings , and affiliated operations . the final guarantee expires in 2022 . we are not aware of any existing event of default that would require us to satisfy these guarantees . we do not expect that these guarantees will have a material adverse effect on our consolidated financial condition , results of operations , or liquidity . other matters labor agreements 2013 approximately 86% ( 86 % ) of our 45928 full-time-equivalent employees are represented by 14 major rail unions . during the year , we concluded the most recent round of negotiations , which began in 2010 , with the ratification of new agreements by several unions that continued negotiating into 2012 . all of the unions executed similar multi-year agreements that provide for higher employee cost sharing of employee health and welfare benefits and higher wages . the current agreements will remain in effect until renegotiated under provisions of the railway labor act . the next round of negotiations will begin in early 2015 . inflation 2013 long periods of inflation significantly increase asset replacement costs for capital-intensive companies . as a result , assuming that we replace all operating assets at current price levels , depreciation charges ( on an inflation-adjusted basis ) would be substantially greater than historically reported amounts . derivative financial instruments 2013 we may use derivative financial instruments in limited instances to assist in managing our overall exposure to fluctuations in interest rates and fuel prices . we are not a party to leveraged derivatives and , by policy , do not use derivative financial instruments for speculative purposes . derivative financial instruments qualifying for hedge accounting must maintain a specified level of effectiveness between the hedging instrument and the item being hedged , both at inception and throughout the hedged period . we formally document the nature and relationships between the hedging instruments and hedged items at inception , as well as our risk-management objectives , strategies for undertaking the various hedge transactions , and method of assessing hedge effectiveness . changes in the fair market value of derivative financial instruments that do not qualify for hedge accounting are charged to earnings . we may use swaps , collars , futures , and/or forward contracts to mitigate the risk of adverse movements in interest rates and fuel prices ; however , the use of these derivative financial instruments may limit future benefits from favorable price movements . market and credit risk 2013 we address market risk related to derivative financial instruments by selecting instruments with value fluctuations that highly correlate with the underlying hedged item . we manage credit risk related to derivative financial instruments , which is minimal , by requiring high credit standards for counterparties and periodic settlements . at december 31 , 2012 and 2011 , we were not required to provide collateral , nor had we received collateral , relating to our hedging activities. . Conversations: q0: what is the value of total commercial commitments? 2732.0 q1: what about the value of utilizes receivables securitization facility during 2012? 100.0 q2: if receivables securitization facility is excluded what would be the total commercial commitments? 2632.0 Question: what is the value of standby letter of credit commitments expiring in 12 months? Answer:

24.0

convfinqa1177

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: amount of commitment expiration per period other commercial commitments after millions total 2013 2014 2015 2016 2017 2017 . <table class='wikitable'><tr><td>1</td><td>other commercial commitmentsmillions</td><td>total</td><td>amount of commitment expiration per period 2013</td><td>amount of commitment expiration per period 2014</td><td>amount of commitment expiration per period 2015</td><td>amount of commitment expiration per period 2016</td><td>amount of commitment expiration per period 2017</td><td>amount of commitment expiration per period after 2017</td></tr><tr><td>2</td><td>credit facilities [a]</td><td>$ 1800</td><td>$ -</td><td>$ -</td><td>$ 1800</td><td>$ -</td><td>$ -</td><td>$ -</td></tr><tr><td>3</td><td>receivables securitization facility [b]</td><td>600</td><td>600</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>4</td><td>guarantees [c]</td><td>307</td><td>8</td><td>214</td><td>12</td><td>30</td><td>10</td><td>33</td></tr><tr><td>5</td><td>standby letters of credit [d]</td><td>25</td><td>24</td><td>1</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>6</td><td>total commercialcommitments</td><td>$ 2732</td><td>$ 632</td><td>$ 215</td><td>$ 1812</td><td>$ 30</td><td>$ 10</td><td>$ 33</td></tr></table> [a] none of the credit facility was used as of december 31 , 2012 . [b] $ 100 million of the receivables securitization facility was utilized at december 31 , 2012 , which is accounted for as debt . the full program matures in july 2013 . [c] includes guaranteed obligations related to our headquarters building , equipment financings , and affiliated operations . [d] none of the letters of credit were drawn upon as of december 31 , 2012 . off-balance sheet arrangements guarantees 2013 at december 31 , 2012 , we were contingently liable for $ 307 million in guarantees . we have recorded a liability of $ 2 million for the fair value of these obligations as of december 31 , 2012 and 2011 . we entered into these contingent guarantees in the normal course of business , and they include guaranteed obligations related to our headquarters building , equipment financings , and affiliated operations . the final guarantee expires in 2022 . we are not aware of any existing event of default that would require us to satisfy these guarantees . we do not expect that these guarantees will have a material adverse effect on our consolidated financial condition , results of operations , or liquidity . other matters labor agreements 2013 approximately 86% ( 86 % ) of our 45928 full-time-equivalent employees are represented by 14 major rail unions . during the year , we concluded the most recent round of negotiations , which began in 2010 , with the ratification of new agreements by several unions that continued negotiating into 2012 . all of the unions executed similar multi-year agreements that provide for higher employee cost sharing of employee health and welfare benefits and higher wages . the current agreements will remain in effect until renegotiated under provisions of the railway labor act . the next round of negotiations will begin in early 2015 . inflation 2013 long periods of inflation significantly increase asset replacement costs for capital-intensive companies . as a result , assuming that we replace all operating assets at current price levels , depreciation charges ( on an inflation-adjusted basis ) would be substantially greater than historically reported amounts . derivative financial instruments 2013 we may use derivative financial instruments in limited instances to assist in managing our overall exposure to fluctuations in interest rates and fuel prices . we are not a party to leveraged derivatives and , by policy , do not use derivative financial instruments for speculative purposes . derivative financial instruments qualifying for hedge accounting must maintain a specified level of effectiveness between the hedging instrument and the item being hedged , both at inception and throughout the hedged period . we formally document the nature and relationships between the hedging instruments and hedged items at inception , as well as our risk-management objectives , strategies for undertaking the various hedge transactions , and method of assessing hedge effectiveness . changes in the fair market value of derivative financial instruments that do not qualify for hedge accounting are charged to earnings . we may use swaps , collars , futures , and/or forward contracts to mitigate the risk of adverse movements in interest rates and fuel prices ; however , the use of these derivative financial instruments may limit future benefits from favorable price movements . market and credit risk 2013 we address market risk related to derivative financial instruments by selecting instruments with value fluctuations that highly correlate with the underlying hedged item . we manage credit risk related to derivative financial instruments , which is minimal , by requiring high credit standards for counterparties and periodic settlements . at december 31 , 2012 and 2011 , we were not required to provide collateral , nor had we received collateral , relating to our hedging activities. . Conversations: q0: what is the value of total commercial commitments? 2732.0 q1: what about the value of utilizes receivables securitization facility during 2012? 100.0 q2: if receivables securitization facility is excluded what would be the total commercial commitments? 2632.0 q3: what is the value of standby letter of credit commitments expiring in 12 months? 24.0 Question: what about the total value of standby letters of credit? Answer:

25.0

convfinqa1178

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: amount of commitment expiration per period other commercial commitments after millions total 2013 2014 2015 2016 2017 2017 . <table class='wikitable'><tr><td>1</td><td>other commercial commitmentsmillions</td><td>total</td><td>amount of commitment expiration per period 2013</td><td>amount of commitment expiration per period 2014</td><td>amount of commitment expiration per period 2015</td><td>amount of commitment expiration per period 2016</td><td>amount of commitment expiration per period 2017</td><td>amount of commitment expiration per period after 2017</td></tr><tr><td>2</td><td>credit facilities [a]</td><td>$ 1800</td><td>$ -</td><td>$ -</td><td>$ 1800</td><td>$ -</td><td>$ -</td><td>$ -</td></tr><tr><td>3</td><td>receivables securitization facility [b]</td><td>600</td><td>600</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>4</td><td>guarantees [c]</td><td>307</td><td>8</td><td>214</td><td>12</td><td>30</td><td>10</td><td>33</td></tr><tr><td>5</td><td>standby letters of credit [d]</td><td>25</td><td>24</td><td>1</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>6</td><td>total commercialcommitments</td><td>$ 2732</td><td>$ 632</td><td>$ 215</td><td>$ 1812</td><td>$ 30</td><td>$ 10</td><td>$ 33</td></tr></table> [a] none of the credit facility was used as of december 31 , 2012 . [b] $ 100 million of the receivables securitization facility was utilized at december 31 , 2012 , which is accounted for as debt . the full program matures in july 2013 . [c] includes guaranteed obligations related to our headquarters building , equipment financings , and affiliated operations . [d] none of the letters of credit were drawn upon as of december 31 , 2012 . off-balance sheet arrangements guarantees 2013 at december 31 , 2012 , we were contingently liable for $ 307 million in guarantees . we have recorded a liability of $ 2 million for the fair value of these obligations as of december 31 , 2012 and 2011 . we entered into these contingent guarantees in the normal course of business , and they include guaranteed obligations related to our headquarters building , equipment financings , and affiliated operations . the final guarantee expires in 2022 . we are not aware of any existing event of default that would require us to satisfy these guarantees . we do not expect that these guarantees will have a material adverse effect on our consolidated financial condition , results of operations , or liquidity . other matters labor agreements 2013 approximately 86% ( 86 % ) of our 45928 full-time-equivalent employees are represented by 14 major rail unions . during the year , we concluded the most recent round of negotiations , which began in 2010 , with the ratification of new agreements by several unions that continued negotiating into 2012 . all of the unions executed similar multi-year agreements that provide for higher employee cost sharing of employee health and welfare benefits and higher wages . the current agreements will remain in effect until renegotiated under provisions of the railway labor act . the next round of negotiations will begin in early 2015 . inflation 2013 long periods of inflation significantly increase asset replacement costs for capital-intensive companies . as a result , assuming that we replace all operating assets at current price levels , depreciation charges ( on an inflation-adjusted basis ) would be substantially greater than historically reported amounts . derivative financial instruments 2013 we may use derivative financial instruments in limited instances to assist in managing our overall exposure to fluctuations in interest rates and fuel prices . we are not a party to leveraged derivatives and , by policy , do not use derivative financial instruments for speculative purposes . derivative financial instruments qualifying for hedge accounting must maintain a specified level of effectiveness between the hedging instrument and the item being hedged , both at inception and throughout the hedged period . we formally document the nature and relationships between the hedging instruments and hedged items at inception , as well as our risk-management objectives , strategies for undertaking the various hedge transactions , and method of assessing hedge effectiveness . changes in the fair market value of derivative financial instruments that do not qualify for hedge accounting are charged to earnings . we may use swaps , collars , futures , and/or forward contracts to mitigate the risk of adverse movements in interest rates and fuel prices ; however , the use of these derivative financial instruments may limit future benefits from favorable price movements . market and credit risk 2013 we address market risk related to derivative financial instruments by selecting instruments with value fluctuations that highly correlate with the underlying hedged item . we manage credit risk related to derivative financial instruments , which is minimal , by requiring high credit standards for counterparties and periodic settlements . at december 31 , 2012 and 2011 , we were not required to provide collateral , nor had we received collateral , relating to our hedging activities. . Conversations: q0: what is the value of total commercial commitments? 2732.0 q1: what about the value of utilizes receivables securitization facility during 2012? 100.0 q2: if receivables securitization facility is excluded what would be the total commercial commitments? 2632.0 q3: what is the value of standby letter of credit commitments expiring in 12 months? 24.0 q4: what about the total value of standby letters of credit? 25.0 Question: what portion is classified under current portion? Answer:

0.96

convfinqa1179

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: for the valuation of the 4199466 performance-based options granted in 2005 : the risk free interest rate was 4.2% ( 4.2 % ) , the volatility factor for the expected market price of the common stock was 44% ( 44 % ) , the expected dividend yield was zero and the objective time to exercise was 4.7 years with an objective in the money assumption of 2.95 years . it was also expected that the initial public offering assumption would occur within a 9 month period from grant date . the fair value of the performance-based options was calculated to be $ 5.85 . the fair value for fis options granted in 2006 was estimated at the date of grant using a black-scholes option- pricing model with the following weighted average assumptions . the risk free interest rates used in the calculation are the rate that corresponds to the weighted average expected life of an option . the risk free interest rate used for options granted during 2006 was 4.9% ( 4.9 % ) . a volatility factor for the expected market price of the common stock of 30% ( 30 % ) was used for options granted in 2006 . the expected dividend yield used for 2006 was 0.5% ( 0.5 % ) . a weighted average expected life of 6.4 years was used for 2006 . the weighted average fair value of each option granted during 2006 was $ 15.52 . at december 31 , 2006 , the total unrecognized compensation cost related to non-vested stock option grants is $ 86.1 million , which is expected to be recognized in pre-tax income over a weighted average period of 1.9 years . the company intends to limit dilution caused by option exercises , including anticipated exercises , by repurchasing shares on the open market or in privately negotiated transactions . during 2006 , the company repurchased 4261200 shares at an average price of $ 37.60 . on october 25 , 2006 , the company 2019s board of directors approved a plan authorizing the repurchase of up to an additional $ 200 million worth of the company 2019s common stock . defined benefit plans certegy pension plan in connection with the certegy merger , the company announced that it will terminate and settle the certegy u.s . retirement income plan ( usrip ) . the estimated impact of this settlement was reflected in the purchase price allocation as an increase in the pension liability , less the fair value of the pension plan assets , based on estimates of the total cost to settle the liability through the purchase of annuity contracts or lump sum settlements to the beneficiaries . the final settlement will not occur until after an irs determination has been obtained , which is expected to be received in 2007 . in addition to the net pension plan obligation of $ 21.6 million , the company assumed liabilities of $ 8.0 million for certegy 2019s supplemental executive retirement plan ( 201cserp 201d ) and $ 3.0 mil- lion for a postretirement benefit plan . a reconciliation of the changes in the fair value of plan assets of the usrip for the period from february 1 , 2006 through december 31 , 2006 is as follows ( in thousands ) : . <table class='wikitable'><tr><td>1</td><td></td><td>2006</td></tr><tr><td>2</td><td>fair value of plan assets at acquisition date</td><td>$ 57369</td></tr><tr><td>3</td><td>actual return on plan assets</td><td>8200</td></tr><tr><td>4</td><td>benefits paid</td><td>-797 ( 797 )</td></tr><tr><td>5</td><td>fair value of plan assets at end of year</td><td>$ 64772</td></tr></table> benefits paid in the above table include only those amounts paid directly from plan assets . as of december 31 , 2006 and for 2007 through the pay out of the pension liability , the assets are being invested in u.s . treasury bonds due to the short duration until final payment . fidelity national information services , inc . and subsidiaries and affiliates consolidated and combined financial statements notes to consolidated and combined financial statements 2014 ( continued ) . Conversations: Question: what was the total cash spent for the repurchase of shares during 2006? Answer:

160221120.0

convfinqa1180

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: for the valuation of the 4199466 performance-based options granted in 2005 : the risk free interest rate was 4.2% ( 4.2 % ) , the volatility factor for the expected market price of the common stock was 44% ( 44 % ) , the expected dividend yield was zero and the objective time to exercise was 4.7 years with an objective in the money assumption of 2.95 years . it was also expected that the initial public offering assumption would occur within a 9 month period from grant date . the fair value of the performance-based options was calculated to be $ 5.85 . the fair value for fis options granted in 2006 was estimated at the date of grant using a black-scholes option- pricing model with the following weighted average assumptions . the risk free interest rates used in the calculation are the rate that corresponds to the weighted average expected life of an option . the risk free interest rate used for options granted during 2006 was 4.9% ( 4.9 % ) . a volatility factor for the expected market price of the common stock of 30% ( 30 % ) was used for options granted in 2006 . the expected dividend yield used for 2006 was 0.5% ( 0.5 % ) . a weighted average expected life of 6.4 years was used for 2006 . the weighted average fair value of each option granted during 2006 was $ 15.52 . at december 31 , 2006 , the total unrecognized compensation cost related to non-vested stock option grants is $ 86.1 million , which is expected to be recognized in pre-tax income over a weighted average period of 1.9 years . the company intends to limit dilution caused by option exercises , including anticipated exercises , by repurchasing shares on the open market or in privately negotiated transactions . during 2006 , the company repurchased 4261200 shares at an average price of $ 37.60 . on october 25 , 2006 , the company 2019s board of directors approved a plan authorizing the repurchase of up to an additional $ 200 million worth of the company 2019s common stock . defined benefit plans certegy pension plan in connection with the certegy merger , the company announced that it will terminate and settle the certegy u.s . retirement income plan ( usrip ) . the estimated impact of this settlement was reflected in the purchase price allocation as an increase in the pension liability , less the fair value of the pension plan assets , based on estimates of the total cost to settle the liability through the purchase of annuity contracts or lump sum settlements to the beneficiaries . the final settlement will not occur until after an irs determination has been obtained , which is expected to be received in 2007 . in addition to the net pension plan obligation of $ 21.6 million , the company assumed liabilities of $ 8.0 million for certegy 2019s supplemental executive retirement plan ( 201cserp 201d ) and $ 3.0 mil- lion for a postretirement benefit plan . a reconciliation of the changes in the fair value of plan assets of the usrip for the period from february 1 , 2006 through december 31 , 2006 is as follows ( in thousands ) : . <table class='wikitable'><tr><td>1</td><td></td><td>2006</td></tr><tr><td>2</td><td>fair value of plan assets at acquisition date</td><td>$ 57369</td></tr><tr><td>3</td><td>actual return on plan assets</td><td>8200</td></tr><tr><td>4</td><td>benefits paid</td><td>-797 ( 797 )</td></tr><tr><td>5</td><td>fair value of plan assets at end of year</td><td>$ 64772</td></tr></table> benefits paid in the above table include only those amounts paid directly from plan assets . as of december 31 , 2006 and for 2007 through the pay out of the pension liability , the assets are being invested in u.s . treasury bonds due to the short duration until final payment . fidelity national information services , inc . and subsidiaries and affiliates consolidated and combined financial statements notes to consolidated and combined financial statements 2014 ( continued ) . Conversations: q0: what was the total cash spent for the repurchase of shares during 2006? 160221120.0 Question: and how much is that in millions? Answer:

160.22112

convfinqa1181

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: 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: . <table class='wikitable'><tr><td>1</td><td>( in thousands )</td><td>year ended december 31 , 2008</td><td>year ended december 31 , 2007</td><td>year ended december 31 , 2006</td></tr><tr><td>2</td><td>united states</td><td>$ 151688</td><td>$ 131777</td><td>$ 94282</td></tr><tr><td>3</td><td>germany</td><td>68390</td><td>50973</td><td>34567</td></tr><tr><td>4</td><td>japan</td><td>66960</td><td>50896</td><td>35391</td></tr><tr><td>5</td><td>canada</td><td>8033</td><td>4809</td><td>4255</td></tr><tr><td>6</td><td>other european</td><td>127246</td><td>108971</td><td>70184</td></tr><tr><td>7</td><td>other international</td><td>56022</td><td>37914</td><td>24961</td></tr><tr><td>8</td><td>total revenue</td><td>$ 478339</td><td>$ 385340</td><td>$ 263640</td></tr></table> . Conversations: Question: what is the total future minimum lease payments under noncancellable operating leases for office space for 2009 and 2010? Answer:

15.4

convfinqa1182

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: 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: . <table class='wikitable'><tr><td>1</td><td>( in thousands )</td><td>year ended december 31 , 2008</td><td>year ended december 31 , 2007</td><td>year ended december 31 , 2006</td></tr><tr><td>2</td><td>united states</td><td>$ 151688</td><td>$ 131777</td><td>$ 94282</td></tr><tr><td>3</td><td>germany</td><td>68390</td><td>50973</td><td>34567</td></tr><tr><td>4</td><td>japan</td><td>66960</td><td>50896</td><td>35391</td></tr><tr><td>5</td><td>canada</td><td>8033</td><td>4809</td><td>4255</td></tr><tr><td>6</td><td>other european</td><td>127246</td><td>108971</td><td>70184</td></tr><tr><td>7</td><td>other international</td><td>56022</td><td>37914</td><td>24961</td></tr><tr><td>8</td><td>total revenue</td><td>$ 478339</td><td>$ 385340</td><td>$ 263640</td></tr></table> . Conversations: q0: what is the total future minimum lease payments under noncancellable operating leases for office space for 2009 and 2010? 15.4 Question: what about if 2011 is added? Answer:

18.4

convfinqa1183

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: 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: . <table class='wikitable'><tr><td>1</td><td>( in thousands )</td><td>year ended december 31 , 2008</td><td>year ended december 31 , 2007</td><td>year ended december 31 , 2006</td></tr><tr><td>2</td><td>united states</td><td>$ 151688</td><td>$ 131777</td><td>$ 94282</td></tr><tr><td>3</td><td>germany</td><td>68390</td><td>50973</td><td>34567</td></tr><tr><td>4</td><td>japan</td><td>66960</td><td>50896</td><td>35391</td></tr><tr><td>5</td><td>canada</td><td>8033</td><td>4809</td><td>4255</td></tr><tr><td>6</td><td>other european</td><td>127246</td><td>108971</td><td>70184</td></tr><tr><td>7</td><td>other international</td><td>56022</td><td>37914</td><td>24961</td></tr><tr><td>8</td><td>total revenue</td><td>$ 478339</td><td>$ 385340</td><td>$ 263640</td></tr></table> . Conversations: q0: what is the total future minimum lease payments under noncancellable operating leases for office space for 2009 and 2010? 15.4 q1: what about if 2011 is added? 18.4 Question: and if 2012 is added? Answer:

20.2

convfinqa1184

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: 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: . <table class='wikitable'><tr><td>1</td><td>( in thousands )</td><td>year ended december 31 , 2008</td><td>year ended december 31 , 2007</td><td>year ended december 31 , 2006</td></tr><tr><td>2</td><td>united states</td><td>$ 151688</td><td>$ 131777</td><td>$ 94282</td></tr><tr><td>3</td><td>germany</td><td>68390</td><td>50973</td><td>34567</td></tr><tr><td>4</td><td>japan</td><td>66960</td><td>50896</td><td>35391</td></tr><tr><td>5</td><td>canada</td><td>8033</td><td>4809</td><td>4255</td></tr><tr><td>6</td><td>other european</td><td>127246</td><td>108971</td><td>70184</td></tr><tr><td>7</td><td>other international</td><td>56022</td><td>37914</td><td>24961</td></tr><tr><td>8</td><td>total revenue</td><td>$ 478339</td><td>$ 385340</td><td>$ 263640</td></tr></table> . Conversations: q0: what is the total future minimum lease payments under noncancellable operating leases for office space for 2009 and 2010? 15.4 q1: what about if 2011 is added? 18.4 q2: and if 2012 is added? 20.2 Question: what about if 2013 is added Answer:

21.3

convfinqa1185

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: 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: . <table class='wikitable'><tr><td>1</td><td>( in thousands )</td><td>year ended december 31 , 2008</td><td>year ended december 31 , 2007</td><td>year ended december 31 , 2006</td></tr><tr><td>2</td><td>united states</td><td>$ 151688</td><td>$ 131777</td><td>$ 94282</td></tr><tr><td>3</td><td>germany</td><td>68390</td><td>50973</td><td>34567</td></tr><tr><td>4</td><td>japan</td><td>66960</td><td>50896</td><td>35391</td></tr><tr><td>5</td><td>canada</td><td>8033</td><td>4809</td><td>4255</td></tr><tr><td>6</td><td>other european</td><td>127246</td><td>108971</td><td>70184</td></tr><tr><td>7</td><td>other international</td><td>56022</td><td>37914</td><td>24961</td></tr><tr><td>8</td><td>total revenue</td><td>$ 478339</td><td>$ 385340</td><td>$ 263640</td></tr></table> . Conversations: q0: what is the total future minimum lease payments under noncancellable operating leases for office space for 2009 and 2010? 15.4 q1: what about if 2011 is added? 18.4 q2: and if 2012 is added? 20.2 q3: what about if 2013 is added 21.3 Question: what is the average for these four years? Answer:

5.325

convfinqa1186

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: 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: . <table class='wikitable'><tr><td>1</td><td>( in thousands )</td><td>year ended december 31 , 2008</td><td>year ended december 31 , 2007</td><td>year ended december 31 , 2006</td></tr><tr><td>2</td><td>united states</td><td>$ 151688</td><td>$ 131777</td><td>$ 94282</td></tr><tr><td>3</td><td>germany</td><td>68390</td><td>50973</td><td>34567</td></tr><tr><td>4</td><td>japan</td><td>66960</td><td>50896</td><td>35391</td></tr><tr><td>5</td><td>canada</td><td>8033</td><td>4809</td><td>4255</td></tr><tr><td>6</td><td>other european</td><td>127246</td><td>108971</td><td>70184</td></tr><tr><td>7</td><td>other international</td><td>56022</td><td>37914</td><td>24961</td></tr><tr><td>8</td><td>total revenue</td><td>$ 478339</td><td>$ 385340</td><td>$ 263640</td></tr></table> . Conversations: q0: what is the total future minimum lease payments under noncancellable operating leases for office space for 2009 and 2010? 15.4 q1: what about if 2011 is added? 18.4 q2: and if 2012 is added? 20.2 q3: what about if 2013 is added 21.3 q4: what is the average for these four years? 5.325 Question: what is the revenue generated in united states in 2008? Answer:

151688.0

convfinqa1187

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: 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: . <table class='wikitable'><tr><td>1</td><td>( in thousands )</td><td>year ended december 31 , 2008</td><td>year ended december 31 , 2007</td><td>year ended december 31 , 2006</td></tr><tr><td>2</td><td>united states</td><td>$ 151688</td><td>$ 131777</td><td>$ 94282</td></tr><tr><td>3</td><td>germany</td><td>68390</td><td>50973</td><td>34567</td></tr><tr><td>4</td><td>japan</td><td>66960</td><td>50896</td><td>35391</td></tr><tr><td>5</td><td>canada</td><td>8033</td><td>4809</td><td>4255</td></tr><tr><td>6</td><td>other european</td><td>127246</td><td>108971</td><td>70184</td></tr><tr><td>7</td><td>other international</td><td>56022</td><td>37914</td><td>24961</td></tr><tr><td>8</td><td>total revenue</td><td>$ 478339</td><td>$ 385340</td><td>$ 263640</td></tr></table> . Conversations: q0: what is the total future minimum lease payments under noncancellable operating leases for office space for 2009 and 2010? 15.4 q1: what about if 2011 is added? 18.4 q2: and if 2012 is added? 20.2 q3: what about if 2013 is added 21.3 q4: what is the average for these four years? 5.325 q5: what is the revenue generated in united states in 2008? 151688.0 Question: what about the total revenue in 2008? Answer:

478339.0

convfinqa1188

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: 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: . <table class='wikitable'><tr><td>1</td><td>( in thousands )</td><td>year ended december 31 , 2008</td><td>year ended december 31 , 2007</td><td>year ended december 31 , 2006</td></tr><tr><td>2</td><td>united states</td><td>$ 151688</td><td>$ 131777</td><td>$ 94282</td></tr><tr><td>3</td><td>germany</td><td>68390</td><td>50973</td><td>34567</td></tr><tr><td>4</td><td>japan</td><td>66960</td><td>50896</td><td>35391</td></tr><tr><td>5</td><td>canada</td><td>8033</td><td>4809</td><td>4255</td></tr><tr><td>6</td><td>other european</td><td>127246</td><td>108971</td><td>70184</td></tr><tr><td>7</td><td>other international</td><td>56022</td><td>37914</td><td>24961</td></tr><tr><td>8</td><td>total revenue</td><td>$ 478339</td><td>$ 385340</td><td>$ 263640</td></tr></table> . Conversations: q0: what is the total future minimum lease payments under noncancellable operating leases for office space for 2009 and 2010? 15.4 q1: what about if 2011 is added? 18.4 q2: and if 2012 is added? 20.2 q3: what about if 2013 is added 21.3 q4: what is the average for these four years? 5.325 q5: what is the revenue generated in united states in 2008? 151688.0 q6: what about the total revenue in 2008? 478339.0 Question: what portion of revenue is generated in united states? Answer:

0.31711

convfinqa1189

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: issuer purchases of equity securities during the three months ended december 31 , 2007 , we repurchased 8895570 shares of our class a common stock for an aggregate of $ 385.1 million pursuant to the $ 1.5 billion stock repurchase program publicly announced in february 2007 , as follows : period total number of shares purchased ( 1 ) average price paid per share total number of shares purchased as part of publicly announced plans or programs approximate dollar value of shares that may yet be purchased under the plans or programs ( in millions ) . <table class='wikitable'><tr><td>1</td><td>period</td><td>total number of shares purchased ( 1 )</td><td>average price paid per share</td><td>total number of shares purchased as part of publicly announced plans or programs</td><td>approximate dollar value of shares that may yet be purchased under the plans or programs ( in millions )</td></tr><tr><td>2</td><td>october 2007</td><td>3493426</td><td>$ 43.30</td><td>3493426</td><td>$ 449.9</td></tr><tr><td>3</td><td>november 2007</td><td>2891719</td><td>$ 44.16</td><td>2891719</td><td>$ 322.2</td></tr><tr><td>4</td><td>december 2007</td><td>2510425</td><td>$ 44.20</td><td>2510425</td><td>$ 216.2</td></tr><tr><td>5</td><td>total fourth quarter</td><td>8895570</td><td>$ 43.27</td><td>8895570</td><td>$ 216.2</td></tr></table> ( 1 ) issuer repurchases pursuant to the $ 1.5 billion stock repurchase program publicly announced in february 2007 . under this program , our management was authorized through february 2008 to purchase shares from time to time through open market purchases or privately negotiated transactions at prevailing prices as permitted by securities laws and other legal requirements , and subject to market conditions and other factors . to facilitate repurchases , we typically made purchases pursuant to trading plans under rule 10b5-1 of the exchange act , which allow us to repurchase shares during periods when we otherwise might be prevented from doing so under insider trading laws or because of self-imposed trading blackout periods . subsequent to december 31 , 2007 , we repurchased 4.3 million shares of our class a common stock for an aggregate of $ 163.7 million pursuant to this program . in february 2008 , our board of directors approved a new stock repurchase program , pursuant to which we are authorized to purchase up to an additional $ 1.5 billion of our class a common stock . purchases under this stock repurchase program are subject to us having available cash to fund repurchases , as further described in item 1a of this annual report under the caption 201crisk factors 2014we anticipate that we may need additional financing to fund our stock repurchase programs , to refinance our existing indebtedness and to fund future growth and expansion initiatives 201d and item 7 of this annual report under the caption 201cmanagement 2019s discussion and analysis of financial condition and results of operations 2014liquidity and capital resources . 201d . Conversations: Question: what is the aggregate value of shares repurchased, in millions? Answer:

163700000.0

convfinqa1190

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: issuer purchases of equity securities during the three months ended december 31 , 2007 , we repurchased 8895570 shares of our class a common stock for an aggregate of $ 385.1 million pursuant to the $ 1.5 billion stock repurchase program publicly announced in february 2007 , as follows : period total number of shares purchased ( 1 ) average price paid per share total number of shares purchased as part of publicly announced plans or programs approximate dollar value of shares that may yet be purchased under the plans or programs ( in millions ) . <table class='wikitable'><tr><td>1</td><td>period</td><td>total number of shares purchased ( 1 )</td><td>average price paid per share</td><td>total number of shares purchased as part of publicly announced plans or programs</td><td>approximate dollar value of shares that may yet be purchased under the plans or programs ( in millions )</td></tr><tr><td>2</td><td>october 2007</td><td>3493426</td><td>$ 43.30</td><td>3493426</td><td>$ 449.9</td></tr><tr><td>3</td><td>november 2007</td><td>2891719</td><td>$ 44.16</td><td>2891719</td><td>$ 322.2</td></tr><tr><td>4</td><td>december 2007</td><td>2510425</td><td>$ 44.20</td><td>2510425</td><td>$ 216.2</td></tr><tr><td>5</td><td>total fourth quarter</td><td>8895570</td><td>$ 43.27</td><td>8895570</td><td>$ 216.2</td></tr></table> ( 1 ) issuer repurchases pursuant to the $ 1.5 billion stock repurchase program publicly announced in february 2007 . under this program , our management was authorized through february 2008 to purchase shares from time to time through open market purchases or privately negotiated transactions at prevailing prices as permitted by securities laws and other legal requirements , and subject to market conditions and other factors . to facilitate repurchases , we typically made purchases pursuant to trading plans under rule 10b5-1 of the exchange act , which allow us to repurchase shares during periods when we otherwise might be prevented from doing so under insider trading laws or because of self-imposed trading blackout periods . subsequent to december 31 , 2007 , we repurchased 4.3 million shares of our class a common stock for an aggregate of $ 163.7 million pursuant to this program . in february 2008 , our board of directors approved a new stock repurchase program , pursuant to which we are authorized to purchase up to an additional $ 1.5 billion of our class a common stock . purchases under this stock repurchase program are subject to us having available cash to fund repurchases , as further described in item 1a of this annual report under the caption 201crisk factors 2014we anticipate that we may need additional financing to fund our stock repurchase programs , to refinance our existing indebtedness and to fund future growth and expansion initiatives 201d and item 7 of this annual report under the caption 201cmanagement 2019s discussion and analysis of financial condition and results of operations 2014liquidity and capital resources . 201d . Conversations: q0: what is the aggregate value of shares repurchased, in millions? 163700000.0 Question: what is the amount of shares repurchased that quarter, in millions? Answer:

4300000.0

convfinqa1191

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: issuer purchases of equity securities during the three months ended december 31 , 2007 , we repurchased 8895570 shares of our class a common stock for an aggregate of $ 385.1 million pursuant to the $ 1.5 billion stock repurchase program publicly announced in february 2007 , as follows : period total number of shares purchased ( 1 ) average price paid per share total number of shares purchased as part of publicly announced plans or programs approximate dollar value of shares that may yet be purchased under the plans or programs ( in millions ) . <table class='wikitable'><tr><td>1</td><td>period</td><td>total number of shares purchased ( 1 )</td><td>average price paid per share</td><td>total number of shares purchased as part of publicly announced plans or programs</td><td>approximate dollar value of shares that may yet be purchased under the plans or programs ( in millions )</td></tr><tr><td>2</td><td>october 2007</td><td>3493426</td><td>$ 43.30</td><td>3493426</td><td>$ 449.9</td></tr><tr><td>3</td><td>november 2007</td><td>2891719</td><td>$ 44.16</td><td>2891719</td><td>$ 322.2</td></tr><tr><td>4</td><td>december 2007</td><td>2510425</td><td>$ 44.20</td><td>2510425</td><td>$ 216.2</td></tr><tr><td>5</td><td>total fourth quarter</td><td>8895570</td><td>$ 43.27</td><td>8895570</td><td>$ 216.2</td></tr></table> ( 1 ) issuer repurchases pursuant to the $ 1.5 billion stock repurchase program publicly announced in february 2007 . under this program , our management was authorized through february 2008 to purchase shares from time to time through open market purchases or privately negotiated transactions at prevailing prices as permitted by securities laws and other legal requirements , and subject to market conditions and other factors . to facilitate repurchases , we typically made purchases pursuant to trading plans under rule 10b5-1 of the exchange act , which allow us to repurchase shares during periods when we otherwise might be prevented from doing so under insider trading laws or because of self-imposed trading blackout periods . subsequent to december 31 , 2007 , we repurchased 4.3 million shares of our class a common stock for an aggregate of $ 163.7 million pursuant to this program . in february 2008 , our board of directors approved a new stock repurchase program , pursuant to which we are authorized to purchase up to an additional $ 1.5 billion of our class a common stock . purchases under this stock repurchase program are subject to us having available cash to fund repurchases , as further described in item 1a of this annual report under the caption 201crisk factors 2014we anticipate that we may need additional financing to fund our stock repurchase programs , to refinance our existing indebtedness and to fund future growth and expansion initiatives 201d and item 7 of this annual report under the caption 201cmanagement 2019s discussion and analysis of financial condition and results of operations 2014liquidity and capital resources . 201d . Conversations: q0: what is the aggregate value of shares repurchased, in millions? 163700000.0 q1: what is the amount of shares repurchased that quarter, in millions? 4300000.0 Question: what is the price per share? Answer:

38.06977

convfinqa1192

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: consolidated income statement review our consolidated income statement is presented in item 8 of this report . net income for 2012 was $ 3.0 billion compared with $ 3.1 billion for 2011 . revenue growth of 8 percent and a decline in the provision for credit losses were more than offset by a 16 percent increase in noninterest expense in 2012 compared to 2011 . further detail is included in the net interest income , noninterest income , provision for credit losses and noninterest expense portions of this consolidated income statement review . net interest income table 2 : net interest income and net interest margin year ended december 31 dollars in millions 2012 2011 . <table class='wikitable'><tr><td>1</td><td>year ended december 31dollars in millions</td><td>2012</td><td>2011</td></tr><tr><td>2</td><td>net interest income</td><td>$ 9640</td><td>$ 8700</td></tr><tr><td>3</td><td>net interest margin</td><td>3.94% ( 3.94 % )</td><td>3.92% ( 3.92 % )</td></tr></table> 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 the statistical information ( unaudited ) 2013 average consolidated balance sheet and net interest analysis and analysis of year-to-year changes in net interest income in item 8 of this report and the discussion of purchase accounting accretion of purchased impaired loans in the consolidated balance sheet review in this item 7 for additional information . the increase in net interest income in 2012 compared with 2011 was primarily due to the impact of the rbc bank ( usa ) acquisition , organic loan growth and lower funding costs . purchase accounting accretion remained stable at $ 1.1 billion in both periods . the net interest margin was 3.94% ( 3.94 % ) for 2012 and 3.92% ( 3.92 % ) for 2011 . the increase in the comparison was primarily due to a decrease in the weighted-average rate accrued on total interest- bearing liabilities of 29 basis points , largely offset by a 21 basis point decrease on the yield on total interest-earning assets . the decrease in the rate on interest-bearing liabilities was primarily due to the runoff of maturing retail certificates of deposit and the redemption of additional trust preferred and hybrid capital securities during 2012 , in addition to an increase in fhlb borrowings and commercial paper as lower-cost funding sources . the decrease in the yield on interest-earning assets was primarily due to lower rates on new loan volume and lower yields on new securities in the current low rate environment . with respect to the first quarter of 2013 , we expect net interest income to decline by two to three percent compared to fourth quarter 2012 net interest income of $ 2.4 billion , due to a decrease in purchase accounting accretion of up to $ 50 to $ 60 million , including lower expected cash recoveries . for the full year 2013 , we expect net interest income to decrease compared with 2012 , assuming an expected decline in purchase accounting accretion of approximately $ 400 million , while core net interest income is expected to increase in the year-over-year comparison . we believe our net interest margin will come under pressure in 2013 , due to the expected decline in purchase accounting accretion and assuming that the current low rate environment continues . noninterest income noninterest income totaled $ 5.9 billion for 2012 and $ 5.6 billion for 2011 . the overall increase in the comparison was primarily due to an increase in residential mortgage loan sales revenue driven by higher loan origination volume , gains on sales of visa class b common shares and higher corporate service fees , largely offset by higher provision for residential mortgage repurchase obligations . asset management revenue , including blackrock , totaled $ 1.2 billion in 2012 compared with $ 1.1 billion in 2011 . this increase was primarily due to higher earnings from our blackrock investment . discretionary assets under management increased to $ 112 billion at december 31 , 2012 compared with $ 107 billion at december 31 , 2011 driven by stronger average equity markets , positive net flows and strong sales performance . for 2012 , consumer services fees were $ 1.1 billion compared with $ 1.2 billion in 2011 . the decline reflected the regulatory impact of lower interchange fees on debit card transactions partially offset by customer growth . as further discussed in the retail banking portion of the business segments review section of this item 7 , the dodd-frank limits on interchange rates were effective october 1 , 2011 and had a negative impact on revenue of approximately $ 314 million in 2012 and $ 75 million in 2011 . this impact was partially offset by higher volumes of merchant , customer credit card and debit card transactions and the impact of the rbc bank ( usa ) acquisition . corporate services revenue increased by $ .3 billion , or 30 percent , to $ 1.2 billion in 2012 compared with $ .9 billion in 2011 due to higher commercial mortgage servicing revenue and higher merger and acquisition advisory fees in 2012 . the major components of corporate services revenue are treasury management revenue , corporate finance fees , including revenue from capital markets-related products and services , and commercial mortgage servicing revenue , including commercial mortgage banking activities . see the product revenue portion of this consolidated income statement review for further detail . the pnc financial services group , inc . 2013 form 10-k 39 . Conversations: Question: what was the total net interest income for the years of 2011 and 2012, combined? Answer:

18340.0

convfinqa1193

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: consolidated income statement review our consolidated income statement is presented in item 8 of this report . net income for 2012 was $ 3.0 billion compared with $ 3.1 billion for 2011 . revenue growth of 8 percent and a decline in the provision for credit losses were more than offset by a 16 percent increase in noninterest expense in 2012 compared to 2011 . further detail is included in the net interest income , noninterest income , provision for credit losses and noninterest expense portions of this consolidated income statement review . net interest income table 2 : net interest income and net interest margin year ended december 31 dollars in millions 2012 2011 . <table class='wikitable'><tr><td>1</td><td>year ended december 31dollars in millions</td><td>2012</td><td>2011</td></tr><tr><td>2</td><td>net interest income</td><td>$ 9640</td><td>$ 8700</td></tr><tr><td>3</td><td>net interest margin</td><td>3.94% ( 3.94 % )</td><td>3.92% ( 3.92 % )</td></tr></table> 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 the statistical information ( unaudited ) 2013 average consolidated balance sheet and net interest analysis and analysis of year-to-year changes in net interest income in item 8 of this report and the discussion of purchase accounting accretion of purchased impaired loans in the consolidated balance sheet review in this item 7 for additional information . the increase in net interest income in 2012 compared with 2011 was primarily due to the impact of the rbc bank ( usa ) acquisition , organic loan growth and lower funding costs . purchase accounting accretion remained stable at $ 1.1 billion in both periods . the net interest margin was 3.94% ( 3.94 % ) for 2012 and 3.92% ( 3.92 % ) for 2011 . the increase in the comparison was primarily due to a decrease in the weighted-average rate accrued on total interest- bearing liabilities of 29 basis points , largely offset by a 21 basis point decrease on the yield on total interest-earning assets . the decrease in the rate on interest-bearing liabilities was primarily due to the runoff of maturing retail certificates of deposit and the redemption of additional trust preferred and hybrid capital securities during 2012 , in addition to an increase in fhlb borrowings and commercial paper as lower-cost funding sources . the decrease in the yield on interest-earning assets was primarily due to lower rates on new loan volume and lower yields on new securities in the current low rate environment . with respect to the first quarter of 2013 , we expect net interest income to decline by two to three percent compared to fourth quarter 2012 net interest income of $ 2.4 billion , due to a decrease in purchase accounting accretion of up to $ 50 to $ 60 million , including lower expected cash recoveries . for the full year 2013 , we expect net interest income to decrease compared with 2012 , assuming an expected decline in purchase accounting accretion of approximately $ 400 million , while core net interest income is expected to increase in the year-over-year comparison . we believe our net interest margin will come under pressure in 2013 , due to the expected decline in purchase accounting accretion and assuming that the current low rate environment continues . noninterest income noninterest income totaled $ 5.9 billion for 2012 and $ 5.6 billion for 2011 . the overall increase in the comparison was primarily due to an increase in residential mortgage loan sales revenue driven by higher loan origination volume , gains on sales of visa class b common shares and higher corporate service fees , largely offset by higher provision for residential mortgage repurchase obligations . asset management revenue , including blackrock , totaled $ 1.2 billion in 2012 compared with $ 1.1 billion in 2011 . this increase was primarily due to higher earnings from our blackrock investment . discretionary assets under management increased to $ 112 billion at december 31 , 2012 compared with $ 107 billion at december 31 , 2011 driven by stronger average equity markets , positive net flows and strong sales performance . for 2012 , consumer services fees were $ 1.1 billion compared with $ 1.2 billion in 2011 . the decline reflected the regulatory impact of lower interchange fees on debit card transactions partially offset by customer growth . as further discussed in the retail banking portion of the business segments review section of this item 7 , the dodd-frank limits on interchange rates were effective october 1 , 2011 and had a negative impact on revenue of approximately $ 314 million in 2012 and $ 75 million in 2011 . this impact was partially offset by higher volumes of merchant , customer credit card and debit card transactions and the impact of the rbc bank ( usa ) acquisition . corporate services revenue increased by $ .3 billion , or 30 percent , to $ 1.2 billion in 2012 compared with $ .9 billion in 2011 due to higher commercial mortgage servicing revenue and higher merger and acquisition advisory fees in 2012 . the major components of corporate services revenue are treasury management revenue , corporate finance fees , including revenue from capital markets-related products and services , and commercial mortgage servicing revenue , including commercial mortgage banking activities . see the product revenue portion of this consolidated income statement review for further detail . the pnc financial services group , inc . 2013 form 10-k 39 . Conversations: q0: what was the total net interest income for the years of 2011 and 2012, combined? 18340.0 Question: and how many years are those? Answer:

2.0

convfinqa1194

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: consolidated income statement review our consolidated income statement is presented in item 8 of this report . net income for 2012 was $ 3.0 billion compared with $ 3.1 billion for 2011 . revenue growth of 8 percent and a decline in the provision for credit losses were more than offset by a 16 percent increase in noninterest expense in 2012 compared to 2011 . further detail is included in the net interest income , noninterest income , provision for credit losses and noninterest expense portions of this consolidated income statement review . net interest income table 2 : net interest income and net interest margin year ended december 31 dollars in millions 2012 2011 . <table class='wikitable'><tr><td>1</td><td>year ended december 31dollars in millions</td><td>2012</td><td>2011</td></tr><tr><td>2</td><td>net interest income</td><td>$ 9640</td><td>$ 8700</td></tr><tr><td>3</td><td>net interest margin</td><td>3.94% ( 3.94 % )</td><td>3.92% ( 3.92 % )</td></tr></table> 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 the statistical information ( unaudited ) 2013 average consolidated balance sheet and net interest analysis and analysis of year-to-year changes in net interest income in item 8 of this report and the discussion of purchase accounting accretion of purchased impaired loans in the consolidated balance sheet review in this item 7 for additional information . the increase in net interest income in 2012 compared with 2011 was primarily due to the impact of the rbc bank ( usa ) acquisition , organic loan growth and lower funding costs . purchase accounting accretion remained stable at $ 1.1 billion in both periods . the net interest margin was 3.94% ( 3.94 % ) for 2012 and 3.92% ( 3.92 % ) for 2011 . the increase in the comparison was primarily due to a decrease in the weighted-average rate accrued on total interest- bearing liabilities of 29 basis points , largely offset by a 21 basis point decrease on the yield on total interest-earning assets . the decrease in the rate on interest-bearing liabilities was primarily due to the runoff of maturing retail certificates of deposit and the redemption of additional trust preferred and hybrid capital securities during 2012 , in addition to an increase in fhlb borrowings and commercial paper as lower-cost funding sources . the decrease in the yield on interest-earning assets was primarily due to lower rates on new loan volume and lower yields on new securities in the current low rate environment . with respect to the first quarter of 2013 , we expect net interest income to decline by two to three percent compared to fourth quarter 2012 net interest income of $ 2.4 billion , due to a decrease in purchase accounting accretion of up to $ 50 to $ 60 million , including lower expected cash recoveries . for the full year 2013 , we expect net interest income to decrease compared with 2012 , assuming an expected decline in purchase accounting accretion of approximately $ 400 million , while core net interest income is expected to increase in the year-over-year comparison . we believe our net interest margin will come under pressure in 2013 , due to the expected decline in purchase accounting accretion and assuming that the current low rate environment continues . noninterest income noninterest income totaled $ 5.9 billion for 2012 and $ 5.6 billion for 2011 . the overall increase in the comparison was primarily due to an increase in residential mortgage loan sales revenue driven by higher loan origination volume , gains on sales of visa class b common shares and higher corporate service fees , largely offset by higher provision for residential mortgage repurchase obligations . asset management revenue , including blackrock , totaled $ 1.2 billion in 2012 compared with $ 1.1 billion in 2011 . this increase was primarily due to higher earnings from our blackrock investment . discretionary assets under management increased to $ 112 billion at december 31 , 2012 compared with $ 107 billion at december 31 , 2011 driven by stronger average equity markets , positive net flows and strong sales performance . for 2012 , consumer services fees were $ 1.1 billion compared with $ 1.2 billion in 2011 . the decline reflected the regulatory impact of lower interchange fees on debit card transactions partially offset by customer growth . as further discussed in the retail banking portion of the business segments review section of this item 7 , the dodd-frank limits on interchange rates were effective october 1 , 2011 and had a negative impact on revenue of approximately $ 314 million in 2012 and $ 75 million in 2011 . this impact was partially offset by higher volumes of merchant , customer credit card and debit card transactions and the impact of the rbc bank ( usa ) acquisition . corporate services revenue increased by $ .3 billion , or 30 percent , to $ 1.2 billion in 2012 compared with $ .9 billion in 2011 due to higher commercial mortgage servicing revenue and higher merger and acquisition advisory fees in 2012 . the major components of corporate services revenue are treasury management revenue , corporate finance fees , including revenue from capital markets-related products and services , and commercial mortgage servicing revenue , including commercial mortgage banking activities . see the product revenue portion of this consolidated income statement review for further detail . the pnc financial services group , inc . 2013 form 10-k 39 . Conversations: q0: what was the total net interest income for the years of 2011 and 2012, combined? 18340.0 q1: and how many years are those? 2.0 Question: what was, then, the average net interest income between those years? Answer:

9170.0

convfinqa1195

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: synopsys , inc . notes to consolidated financial statements 2014continued the aggregate purchase price consideration was approximately us$ 417.0 million . as of october 31 , 2012 , the total purchase consideration and the preliminary purchase price allocation were as follows: . <table class='wikitable'><tr><td>1</td><td></td><td>( in thousands )</td></tr><tr><td>2</td><td>cash paid</td><td>$ 373519</td></tr><tr><td>3</td><td>fair value of shares to be acquired through a follow-on merger</td><td>34054</td></tr><tr><td>4</td><td>fair value of equity awards allocated to purchase consideration</td><td>9383</td></tr><tr><td>5</td><td>total purchase consideration</td><td>$ 416956</td></tr><tr><td>6</td><td>goodwill</td><td>247482</td></tr><tr><td>7</td><td>identifiable intangibles assets acquired</td><td>108867</td></tr><tr><td>8</td><td>cash and other assets acquired</td><td>137222</td></tr><tr><td>9</td><td>liabilities assumed</td><td>-76615 ( 76615 )</td></tr><tr><td>10</td><td>total purchase allocation</td><td>$ 416956</td></tr></table> goodwill of $ 247.5 million , which is generally not deductible for tax purposes , primarily resulted from the company 2019s expectation of sales growth and cost synergies from the integration of springsoft 2019s technology and operations with the company 2019s technology and operations . identifiable intangible assets , consisting primarily of technology , customer relationships , backlog and trademarks , were valued using the income method , and are being amortized over three to eight years . acquisition-related costs directly attributable to the business combination were $ 6.6 million for fiscal 2012 and were expensed as incurred in the consolidated statements of operations . these costs consisted primarily of employee separation costs and professional services . fair value of equity awards : pursuant to the merger agreement , the company assumed all the unvested outstanding stock options of springsoft upon the completion of the merger and the vested options were exchanged for cash in the merger . on october 1 , 2012 , the date of the completion of the tender offer , the fair value of the awards to be assumed and exchanged was $ 9.9 million , calculated using the black-scholes option pricing model . the black-scholes option-pricing model incorporates various subjective assumptions including expected volatility , expected term and risk-free interest rates . the expected volatility was estimated by a combination of implied and historical stock price volatility of the options . non-controlling interest : non-controlling interest represents the fair value of the 8.4% ( 8.4 % ) of outstanding springsoft shares that were not acquired during the tender offer process completed on october 1 , 2012 and the fair value of the option awards that were to be assumed or exchanged for cash upon the follow-on merger . the fair value of the non-controlling interest included as part of the aggregate purchase consideration was $ 42.8 million and is disclosed as a separate line in the october 31 , 2012 consolidated statements of stockholders 2019 equity . during the period between the completion of the tender offer and the end of the company 2019s fiscal year on october 31 , 2012 , the non-controlling interest was adjusted by $ 0.5 million to reflect the non-controlling interest 2019s share of the operating loss of springsoft in that period . as the amount is not significant , it has been included as part of other income ( expense ) , net , in the consolidated statements of operations. . Conversations: Question: what is the value of cash and other assets acquired after liabilities are assumed? Answer:

60607.0

convfinqa1196

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: synopsys , inc . notes to consolidated financial statements 2014continued the aggregate purchase price consideration was approximately us$ 417.0 million . as of october 31 , 2012 , the total purchase consideration and the preliminary purchase price allocation were as follows: . <table class='wikitable'><tr><td>1</td><td></td><td>( in thousands )</td></tr><tr><td>2</td><td>cash paid</td><td>$ 373519</td></tr><tr><td>3</td><td>fair value of shares to be acquired through a follow-on merger</td><td>34054</td></tr><tr><td>4</td><td>fair value of equity awards allocated to purchase consideration</td><td>9383</td></tr><tr><td>5</td><td>total purchase consideration</td><td>$ 416956</td></tr><tr><td>6</td><td>goodwill</td><td>247482</td></tr><tr><td>7</td><td>identifiable intangibles assets acquired</td><td>108867</td></tr><tr><td>8</td><td>cash and other assets acquired</td><td>137222</td></tr><tr><td>9</td><td>liabilities assumed</td><td>-76615 ( 76615 )</td></tr><tr><td>10</td><td>total purchase allocation</td><td>$ 416956</td></tr></table> goodwill of $ 247.5 million , which is generally not deductible for tax purposes , primarily resulted from the company 2019s expectation of sales growth and cost synergies from the integration of springsoft 2019s technology and operations with the company 2019s technology and operations . identifiable intangible assets , consisting primarily of technology , customer relationships , backlog and trademarks , were valued using the income method , and are being amortized over three to eight years . acquisition-related costs directly attributable to the business combination were $ 6.6 million for fiscal 2012 and were expensed as incurred in the consolidated statements of operations . these costs consisted primarily of employee separation costs and professional services . fair value of equity awards : pursuant to the merger agreement , the company assumed all the unvested outstanding stock options of springsoft upon the completion of the merger and the vested options were exchanged for cash in the merger . on october 1 , 2012 , the date of the completion of the tender offer , the fair value of the awards to be assumed and exchanged was $ 9.9 million , calculated using the black-scholes option pricing model . the black-scholes option-pricing model incorporates various subjective assumptions including expected volatility , expected term and risk-free interest rates . the expected volatility was estimated by a combination of implied and historical stock price volatility of the options . non-controlling interest : non-controlling interest represents the fair value of the 8.4% ( 8.4 % ) of outstanding springsoft shares that were not acquired during the tender offer process completed on october 1 , 2012 and the fair value of the option awards that were to be assumed or exchanged for cash upon the follow-on merger . the fair value of the non-controlling interest included as part of the aggregate purchase consideration was $ 42.8 million and is disclosed as a separate line in the october 31 , 2012 consolidated statements of stockholders 2019 equity . during the period between the completion of the tender offer and the end of the company 2019s fiscal year on october 31 , 2012 , the non-controlling interest was adjusted by $ 0.5 million to reflect the non-controlling interest 2019s share of the operating loss of springsoft in that period . as the amount is not significant , it has been included as part of other income ( expense ) , net , in the consolidated statements of operations. . Conversations: q0: what is the value of cash and other assets acquired after liabilities are assumed? 60607.0 Question: what is the total value of goodwill and identifiable intangibles assets acquired? Answer:

356349.0

convfinqa1197

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: synopsys , inc . notes to consolidated financial statements 2014continued the aggregate purchase price consideration was approximately us$ 417.0 million . as of october 31 , 2012 , the total purchase consideration and the preliminary purchase price allocation were as follows: . <table class='wikitable'><tr><td>1</td><td></td><td>( in thousands )</td></tr><tr><td>2</td><td>cash paid</td><td>$ 373519</td></tr><tr><td>3</td><td>fair value of shares to be acquired through a follow-on merger</td><td>34054</td></tr><tr><td>4</td><td>fair value of equity awards allocated to purchase consideration</td><td>9383</td></tr><tr><td>5</td><td>total purchase consideration</td><td>$ 416956</td></tr><tr><td>6</td><td>goodwill</td><td>247482</td></tr><tr><td>7</td><td>identifiable intangibles assets acquired</td><td>108867</td></tr><tr><td>8</td><td>cash and other assets acquired</td><td>137222</td></tr><tr><td>9</td><td>liabilities assumed</td><td>-76615 ( 76615 )</td></tr><tr><td>10</td><td>total purchase allocation</td><td>$ 416956</td></tr></table> goodwill of $ 247.5 million , which is generally not deductible for tax purposes , primarily resulted from the company 2019s expectation of sales growth and cost synergies from the integration of springsoft 2019s technology and operations with the company 2019s technology and operations . identifiable intangible assets , consisting primarily of technology , customer relationships , backlog and trademarks , were valued using the income method , and are being amortized over three to eight years . acquisition-related costs directly attributable to the business combination were $ 6.6 million for fiscal 2012 and were expensed as incurred in the consolidated statements of operations . these costs consisted primarily of employee separation costs and professional services . fair value of equity awards : pursuant to the merger agreement , the company assumed all the unvested outstanding stock options of springsoft upon the completion of the merger and the vested options were exchanged for cash in the merger . on october 1 , 2012 , the date of the completion of the tender offer , the fair value of the awards to be assumed and exchanged was $ 9.9 million , calculated using the black-scholes option pricing model . the black-scholes option-pricing model incorporates various subjective assumptions including expected volatility , expected term and risk-free interest rates . the expected volatility was estimated by a combination of implied and historical stock price volatility of the options . non-controlling interest : non-controlling interest represents the fair value of the 8.4% ( 8.4 % ) of outstanding springsoft shares that were not acquired during the tender offer process completed on october 1 , 2012 and the fair value of the option awards that were to be assumed or exchanged for cash upon the follow-on merger . the fair value of the non-controlling interest included as part of the aggregate purchase consideration was $ 42.8 million and is disclosed as a separate line in the october 31 , 2012 consolidated statements of stockholders 2019 equity . during the period between the completion of the tender offer and the end of the company 2019s fiscal year on october 31 , 2012 , the non-controlling interest was adjusted by $ 0.5 million to reflect the non-controlling interest 2019s share of the operating loss of springsoft in that period . as the amount is not significant , it has been included as part of other income ( expense ) , net , in the consolidated statements of operations. . Conversations: q0: what is the value of cash and other assets acquired after liabilities are assumed? 60607.0 q1: what is the total value of goodwill and identifiable intangibles assets acquired? 356349.0 Question: what about the total purchase consideration? Answer:

416956.0

convfinqa1198

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: synopsys , inc . notes to consolidated financial statements 2014continued the aggregate purchase price consideration was approximately us$ 417.0 million . as of october 31 , 2012 , the total purchase consideration and the preliminary purchase price allocation were as follows: . <table class='wikitable'><tr><td>1</td><td></td><td>( in thousands )</td></tr><tr><td>2</td><td>cash paid</td><td>$ 373519</td></tr><tr><td>3</td><td>fair value of shares to be acquired through a follow-on merger</td><td>34054</td></tr><tr><td>4</td><td>fair value of equity awards allocated to purchase consideration</td><td>9383</td></tr><tr><td>5</td><td>total purchase consideration</td><td>$ 416956</td></tr><tr><td>6</td><td>goodwill</td><td>247482</td></tr><tr><td>7</td><td>identifiable intangibles assets acquired</td><td>108867</td></tr><tr><td>8</td><td>cash and other assets acquired</td><td>137222</td></tr><tr><td>9</td><td>liabilities assumed</td><td>-76615 ( 76615 )</td></tr><tr><td>10</td><td>total purchase allocation</td><td>$ 416956</td></tr></table> goodwill of $ 247.5 million , which is generally not deductible for tax purposes , primarily resulted from the company 2019s expectation of sales growth and cost synergies from the integration of springsoft 2019s technology and operations with the company 2019s technology and operations . identifiable intangible assets , consisting primarily of technology , customer relationships , backlog and trademarks , were valued using the income method , and are being amortized over three to eight years . acquisition-related costs directly attributable to the business combination were $ 6.6 million for fiscal 2012 and were expensed as incurred in the consolidated statements of operations . these costs consisted primarily of employee separation costs and professional services . fair value of equity awards : pursuant to the merger agreement , the company assumed all the unvested outstanding stock options of springsoft upon the completion of the merger and the vested options were exchanged for cash in the merger . on october 1 , 2012 , the date of the completion of the tender offer , the fair value of the awards to be assumed and exchanged was $ 9.9 million , calculated using the black-scholes option pricing model . the black-scholes option-pricing model incorporates various subjective assumptions including expected volatility , expected term and risk-free interest rates . the expected volatility was estimated by a combination of implied and historical stock price volatility of the options . non-controlling interest : non-controlling interest represents the fair value of the 8.4% ( 8.4 % ) of outstanding springsoft shares that were not acquired during the tender offer process completed on october 1 , 2012 and the fair value of the option awards that were to be assumed or exchanged for cash upon the follow-on merger . the fair value of the non-controlling interest included as part of the aggregate purchase consideration was $ 42.8 million and is disclosed as a separate line in the october 31 , 2012 consolidated statements of stockholders 2019 equity . during the period between the completion of the tender offer and the end of the company 2019s fiscal year on october 31 , 2012 , the non-controlling interest was adjusted by $ 0.5 million to reflect the non-controlling interest 2019s share of the operating loss of springsoft in that period . as the amount is not significant , it has been included as part of other income ( expense ) , net , in the consolidated statements of operations. . Conversations: q0: what is the value of cash and other assets acquired after liabilities are assumed? 60607.0 q1: what is the total value of goodwill and identifiable intangibles assets acquired? 356349.0 q2: what about the total purchase consideration? 416956.0 Question: what percentage does this represent? Answer:

0.85464

convfinqa1199

In the context of this series of interconnected finance-related queries and the additional information provided by the pretext, table data, and posttext from a company's financial filings, please provide a response to the final question. This may require extracting information from the context and performing mathematical calculations. Please take into account the information provided in the preceding questions and their answers when formulating your response: Context: do so , cme invests such contributions in assets that mirror the assumed investment choices . the balances in these plans are subject to the claims of general creditors of the exchange and totaled $ 38.7 million and $ 31.8 million at december 31 , 2012 and 2011 respectively . although the value of the plans is recorded as an asset in marketable securities in the consolidated balance sheets , there is an equal and offsetting liability . the investment results of these plans have no impact on net income as the investment results are recorded in equal amounts to both investment income and compensation and benefits expense . supplemental savings plan . cme maintains a supplemental plan to provide benefits for employees who have been impacted by statutory limits under the provisions of the qualified pension and savings plan . employees in this plan are subject to the vesting requirements of the underlying qualified plans . deferred compensation plan . a deferred compensation plan is maintained by cme , under which eligible officers and members of the board of directors may contribute a percentage of their compensation and defer income taxes thereon until the time of distribution . comex members 2019 retirement plan and benefits . comex maintains a retirement and benefit plan under the comex members 2019 recognition and retention plan ( mrrp ) . this plan provides benefits to certain members of the comex division based on long-term membership , and participation is limited to individuals who were comex division members prior to nymex 2019s acquisition of comex in 1994 . no new participants were permitted into the plan after the date of this acquisition . under the terms of the mrrp , the company is required to fund the plan with a minimum annual contribution of $ 0.8 million until it is fully funded . all benefits to be paid under the mrrp are based on reasonable actuarial assumptions which are based upon the amounts that are available and are expected to be available to pay benefits . total contributions to the plan were $ 0.8 million for each of 2010 through 2012 . at december 31 , 2012 and 2011 , the obligation for the mrrp totaled $ 22.7 million and $ 21.6 million , respectively . assets with a fair value of $ 18.4 million and $ 17.7 million have been allocated to this plan at december 31 , 2012 and 2011 , respectively , and are included in marketable securities and cash and cash equivalents in the consolidated balance sheets . the balances in these plans are subject to the claims of general creditors of comex . 13 . commitments operating leases . cme group has entered into various non-cancellable operating lease agreements , with the most significant being as follows : 2022 in april 2012 , the company sold two buildings in chicago at 141 w . jackson and leased back a portion of the property . the operating lease , which has an initial lease term ending on april 30 , 2027 , contains four consecutive renewal options for five years . 2022 in january 2011 , the company entered into an operating lease for office space in london . the initial lease term , which became effective on january 20 , 2011 , terminates on march 24 , 2026 , with an option to terminate without penalty in january 2021 . 2022 in july 2008 , the company renegotiated the operating lease for its headquarters at 20 south wacker drive in chicago . the lease , which has an initial term ending on november 30 , 2022 , contains two consecutive renewal options for seven and ten years and a contraction option which allows the company to reduce its occupied space after november 30 , 2018 . in addition , the company may exercise a lease expansion option in december 2017 . 2022 in august 2006 , the company entered into an operating lease for additional office space in chicago . the initial lease term , which became effective on august 10 , 2006 , terminates on november 30 , 2023 . the lease contains two 5-year renewal options beginning in 2023 . at december 31 , 2012 , future minimum payments under non-cancellable operating leases were payable as follows ( in millions ) : . <table class='wikitable'><tr><td>1</td><td>2013</td><td>$ 28.7</td></tr><tr><td>2</td><td>2014</td><td>29.1</td></tr><tr><td>3</td><td>2015</td><td>28.9</td></tr><tr><td>4</td><td>2016</td><td>28.9</td></tr><tr><td>5</td><td>2017</td><td>29.3</td></tr><tr><td>6</td><td>thereafter</td><td>152.9</td></tr><tr><td>7</td><td>total</td><td>$ 297.8</td></tr></table> . Conversations: Question: what portion of the future minimum payments as of december 31, 2012 are due in 2013? Answer:

0.09637